Knowledge Workers WILL Lose Jobs to AI, But Here’s What You Can Do…
Financial Highlights from the Recent Week You Should Know About:
Knowledge Workers WILL Lose Jobs to AI, But Here’s What You Can Do… Read More »
Financial Highlights from the Recent Week You Should Know About:
Knowledge Workers WILL Lose Jobs to AI, But Here’s What You Can Do… Read More »
CONSULTING PwC Scales Back Operations in More Than a Dozen Countries to Avoid Scandals PwC has closed operations in over a dozen countries, including nine in Africa, as part of a strategic move to minimize exposure to financial and reputational risks. This decision follows significant regulatory penalties, such as a $62 million fine and a
PwC Scales Back Operations in More Than a Dozen Countries to Avoid Scandals Read More »
CONSULTING Pentagon cancels $5.1 billion in consulting contracts with Accenture, Deloitte, etc The Pentagon is cancelling IT consulting contracts worth $5.1 billion with Accenture, Deloitte and Booz Allen Hamilton among others. US Defense Secretary, Pete Hegseth, believes the Pentagon can do this work themselves instead of paying external companies. Everyone things they’re an IT expert
Pentagon cancels $5.1 billion in consulting contracts with Accenture, Deloitte, etc Read More »
MARKETS Are You Tired of Hearing the Word “Tariffs” Now? The global trade war of 2025 got very ugly this past week. All major stock indices were feeling the pain as the US slapped tariffs on almost the entire world (including places where the main inhabitants are only penguins, talk about getting caught in the
Are You Tired of Hearing the Word “Tariffs” Now? Read More »
QUANTUM FINANCE JP Morgan’s Quantum Experiment JP Morgan announced the results of an experiment they’ve been conducting using a quantum computer, the experiment yielded “truly random” numbers generated by a quantum computer. The result is first-of-its kind breakthrough and could lead to advancements in market trading and cybersecurity applications. MARKETS CFO’s Are Pessimistic About 2025
JP Morgan’s Quantum Experiment Read More »
COMPLIANCE KPMG Launches Law Firm in US KPMG has been given permission by the Arizona Supreme Court to start its own law firm in the U.S., called KPMG Law. This makes KPMG the first of the “Big Four” accounting firms allowed to practice law in the country, following a change in Arizona’s rules that lets
KPMG Launches Law Firm in US Read More »
CAPITAL MARKETS JPMorgan Re-Classifies Qatar and Kuwait as Developed Markets JPMorgan has re-classifed Qatar and Kuwait as developed markets instead of emerging markets in their Emeging-Markets Bond Index. The re-classification process will take six-months beginning March 31. This change means new bonds from these countries won’t be added to the index, The United Arab Emirates
European and Asian Firms Flocking to US for Listings Read More »
CONSULTING Is This the Beginning of the End of the Consulting Model? KPMG UK partners saw record profits and pay, yet slashed 1266 jobs. However, revenue barely grew 1%. Is this the beginning of the end of the business consulting model as we know it? Read on to find out. COMPLIANCE & RISK MANAGEMENT Canadian
Is This the Beginning of the End of the Consulting Model? Read More »
AI Your Next In-House Legal Assistant Could Be an AI Agent LexisNexis, the legal information provider, introduced Protégé, a new AI-powered legal assistant designed to help lawyers with tasks like drafting documents and managing workflows. Protégé is an AI-agent that can work independently to create various legal documents and suggest next steps, while also reviewing
Your Next In-House Legal Assistant Could Be an AI Agent Read More »
MARKETS Earnings Winners & Losers Both Mastercard and Visa were earnings winners beating earnings forecasts due to a robust holiday spending season. While Deutsche Bank was the loser who saw profits plummet 92%(!) in Q4. MARKETS Trump Tariffs Come into Effect US President Trump held to his threat to slap a 25% tariff on imports
Earnings Winners & Losers Read More »
LEADERSHIP TD Bank Expedites Leadership Change After being hit with a massive money laundering penalty, TD Bank’s new incoming CEO, Raymond Chun will take over the reins at TD Bank on February 1, two months earlier than originally planned. Accelerating the move looks like it’s due to external pressures to accelerate change get things back
Goldman Sachs Unleashes New AI Assistant Read More »
The Finance & Money Edge Virtual Summit A Look at Key Trends & the Future in Banking & Finance Summit Agenda The summit agenda is currently being planned but the main theme is: A Look at Key Trends & the Future in Banking & Finance Who Should Attend This Summit Pre-Registration Get on the early
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CAREERS Back Office Workers Are On Notice If you work in the back or middle-office, you’d better start looking over your shoulder as AI is coming for a job near you. As Banks around the world have officially announced they will be cutting close to 200K jobs over the coming three to five years most
Back Office Workers Are On Notice Read More »
MARKETS Germany’s Economy Struggling While still the largest economy in the EU, Germany’s GDP has been shrinking over the past couple of years. German manufacturing has been struggling and their energy sector is trying to navigate away from relying on Russian natural gas. ON THE MOVE HSBC Promotes Lisa McGeough Amidst continuing restructuring, HSBC has
Germany’s Economy Struggling Read More »
COMPLIANCE Macy’s Accountant Hid $154M in Delivery Expenses If you’re an accountant and you ask your boss for raise next time, bring up this case study and tell your boss be glad you didn’t do this: an accountant at department store Macy’s managed to hide $154M erroneously reported as “delivery expenses”. Investigation is on-going… M&A
Macy’s Accountant Hid $154M in Delivery Expenses Read More »
COMPLIANCE US Court Rejects SEC’s Proposed Rule for Treasury Dealers A federal judge in Texas invalidated a U.S. Securities and Exchange Commission (SEC) rule that required certain traders in the Treasury market to register as broker-dealers, stating the rule exceeded the SEC’s authority. This decision, marked the third SEC regulation overturned in a year. The
US Court Rejects SEC’s Proposed Rule for Treasury Dealers Read More »
DEBT MARKETS Banks Sell the Most Bonds Since 2016 Banks went berserk issuing bonds, raising a whopping US$23.5 billion in ONE day last week. This was the most sold since 2016. I guess the Bull market for equities is over? MARKETS Fintech Klarna Files for IPO The buy-now-pay-later fintech, Klarna, has filed for an IPO
Banks Sell the Most Bonds Since 2016 Read More »
COMPLIANCE More Details on TD Bank’s Fraud Indictment Additional details of TD Bank’s recent fraud indictment have emerged: A former TD Bank employee, Daria Sewell, caught in the middle of this fraud case is now being indicted by Manhattan’s District Attorney. The alleged fraud case accuses the former employee of sharing and leaking customer data
More Details on TD Bank’s Fraud Indictment Read More »
COMPLIANCE Canada Lobbies for Overhaul in Crime Reporting Canadian banks have not had a good time when it comes to anti-money laundering. The Canadian Bankers Association is lobbying the Canadian Government to overhaul and get rid of the current system that banks use to report suspicious activity like money laundering and follow the system used
Canadian Fintechs Face More Regulation Read More »
MARKETS Canada Makes Largest Rate Cuts As the Bank of Canada (BOC) continues to rein in inflation, the BOC made its largest interest rate cut last week, lowering rates by 50 basis points to 3.75%. COMPLIANCE Goldman Sachs & Apple Get Fined Tech giant Apple and Goldman Sachs were fined $89 million by the Consumer
HSBC Names First Female CFO Read More »
AI IN FINANCE AI Helped US Treasury Stop $4b Worth of Fraud Wondering what the big hoopla is about with AI? Well, the US Treasury department has leveraged the use of AI to stop a whopping $4 billion worth of financial fraud in 2024 alone! Let’s talk metrics, that’s a 6 times improvement over the
AI Helped US Treasury Stop $4b Worth of Fraud Read More »
COMPLIANCE TD Bank Smacked with Penalties for Money Laundering Failures The Canadian banking giant is facing massive penalties in the US for failures in its money laundering compliance. TD Bank faces fines of $3 billion, growth limits to their US operations in the form of asset caps within the U.S. market. The penalties are similar
TD Bank Smacked with Penalties for Money Laundering Failures Read More »
AI IN BANKING BMO Appoints Chief AI & Data Officer As AI dominates everything we see right now, Canadian bank, BMO has appointed Kristin Milchanowski, as its Chief AI & Data Officer. The role will focus on plans for the bank to adopt AI, including applications in data, robotics and analytics. CRYPTOCURRENCIES Visa to Launch
Visa to Launch Digital Token Platform Read More »
COMPLIANCE CIBC Slapped with Fine from US Regulators The Canadian bank is facing a total fine of US$42M due to poor record-keeping and using inappropriate communication methods (e.g. text messaging). The fines are imposed by U.S. regulators: Securities and Exchange Commission (SEC) and The Commodity Futures Trading Commission (CFTC). COMPLIANCE DOJ Cracks Down on Visa
CIBC Slapped with Fine from US Regulators Read More »
BANKING New TD Bank CEO Canada’s 2nd largest bank, TD Bank, will have a new CEO come April 2025, Raymond Chun. Chun will take over from current CEO, Bharat Masrani retires next year. Chun could be considered a “TD Bank Lifer”, having joined the bank back in 1992 with their internal management training program. COMPLIANCE
JPMorgan Appoints Junior Banker Well-Being “Leader” Read More »
AI IN FINANCE Oracle’s Netsuite Adds New AI Tools for Financial Security Oracle’s Netsuite, its cloud-based management system, announced some fancy new AI tools, including the ability to detect anomalies in your financial data to alert you to potential problems before it escalates to something bigger. Also added is the ability to interact with our
Oracle’s Netsuite Adds New AI Tools for Financial Security Read More »
MARKETS Goldman Sachs Sees Economic Boon with a Harris Win As the battle between Trump and Harris nears in November, Goldman Sachs predicts better economic growth from a Kamala Harris win. MARKETS Foreign Investors Exit Asian Tech Equities August saw large outflow from Asian Tech equities from overseas investors as investors finding valuations too rich
Goldman Sachs Sees Economic Boon with a Harris Win Read More »
COMMODITIES Central Banks on Gold Buying Spree Wondering why gold has been doing well this year? It’s because Central Banks in emerging markets are on a gold buying spree. The buying spree has setup gold as the second best performing asset (just behind crypto). Forget Dogecoin, go get those gold coins! AI in BANKING Banks
Banks Adopting Llamas (AI) Read More »
BANKING TD Bank Licking Its Wounds One of Canada’s banking giants, TD Bank, suffered its first quarterly loss in over two decades and is dealing with a $2.6 billion fine from U.S. regulators for failing in its anti-money laundering controls. TD Bank CEO, Bharat Masrani, assures everyone that this is only a temporary setback and
TD Bank Licking Its Wounds Read More »
We Show You Everything You Need to Know About ESG: Environmental, Social and Governance ESG Essentials for Bank Executives Training Course This course gives you an introduction to ESG factors and explores how bank & financial institution executives can use them to make informed and impactful investment and business strategy decisions. Regular course fee: USD
ESG Essentials for Bank Executives Training Course Read More »
AI in FINANCE How Mastercard Is Incorporating AI This is a great dive into how Mastercard is incorporating AI to combat fraudulent transactions across billions of transactions and how the company handles massive amounts of data. BANKING Scotiabank Expands Network in the US One of Canada’s Big Six banks, Scotiabank, is acquiring a 14.9% stake
How Mastercard Is Incorporating AI Read More »
We Bring Together Business Executives Who Are Passionate About Personal Development So You Can Perform Your Best The Luminary Leader Assembly by Ethan Hathaway™ For the business executive who is passionate about personal & self-improvement who wants to put your best foot forward to show why you deserved your promotion (and more!). Share The Luminary
The Luminary Leader Assembly by Ethan Hathaway™ Read More »
M&A Chevron-Hess Deal Hits Delay Chevron’s planned acquisition of Hess has hit another snag, due to the international arbitration panel that is handling Exxon’s right-of-first-refusal dispute regarding Hess’ stake in an oil project in Guyana. The panel is slated to make a decision three months after the schedule hearing in May 2025. The deal is also
Chevron-Hess Deal Hits Delay Read More »
FINANCE Finance Pro’s Could Automate More In a recent Mckinsey survey, they found that only 1% of CFO’s have automated more than 76% of their financial processes. While technological advancement has been available at a breakneck speed, the balance of evaluating the effectiveness, safety and practicalness has been slow to catch up. FINTECH Revolut Gets
Finance Pro’s Could Automate More Read More »
FINTECH Revolut See Record Profits British fintech darling, Revolut, saw record profits in 2023 mainly due to a surge in users and interest income. While the fintech startup has seen a range of problems with their reporting compliance in recent years, they’re hoping those days are behind them. The positive performance comes at a good
Revolut See Record Profits Read More »
AI in BANKING Goldman Sachs Rolls Out AI Assistant The investment bank has rolled out their own internal AI coding assistant for internal developers. The AI assistant is run off their own internal platform. This internal platform allows Goldman Sachs to fine-tune the models with its own internal data in a safe way and that
Goldman Sachs Rolls Out AI Assistant Read More »
PRIVATE BANKING Deutsche Private Bank Cuts External Consultants Spending The German bank is cutting its spending on external consultants by 70%(!). The private bank’s head, Claudio de Sanctis, says: “We need to bring our expert knowledge . . . to fix our recurring problems ourselves”. Adding that the lower budget for spending on consultants will be here to stay.
Using Office 365 for your financial models? There’s a bug you need to address NOW Read More »
INVESTMENT BANKING Investment Banking is Back Baby! JP Morgan raised its investment banking revenue forecasts for Q2 by 25% to 30%. The bank is bullish on investment banking business surging on capital markets. BANKING National Bank of Canada Acquires Canada Western Bank The National Bank of Canada has agreed to acquire Canada Western Bank in
Investment Banking is Back Baby! Read More »
US bank, Wells Fargo, recently disclosed that they fired more than a dozen employees for faking keyboard activity to make it appear they were “working” (assuming they were working remotely). While we don’t really know if there were any other details missing for the firings, taken at face value, this clearly showed many companies and
Wells Fargo Fired Workers for “Faking” Work, The Real Problem Is This… Read More »
Enterprise risk management (ERM) gives organizations a comprehensive framework for identifying, assessing, and mitigating risks across your entire business. A properly implemented ERM program helps leadership make informed decisions and improve overall strategic decision making. At its core, ERM consists of five key components that work together to manage risk on an enterprise-wide level. Internal
What are the 5 components of enterprise risk management? Read More »
MARKETS Texas Wants Your IPO Listing Financial firms BlackRock and Citadel are leading a group to setup a stock exchange in Dallas, Texas that is less “woke” and has less barriers than their counterparts in New York. While “wokeism” is not something one usually associates with a stock exchange (we’re politicising stock exchanges now???), the
Hedge Funds: 1, SEC: 0 Read More »
Everyone experiences nerves and anxiety if you need to speak in public and/or make presentations. When that happens, there’s tendency to start saying “um” and “ah”. If you want to tighten up your speaking and presentations to stop saying these filler words, try this.
How to stop saying “ums” & “ahs” in presentations Read More »
FINANCE Saudi Aramco Files New Shares Sale Saudi Arabia is set to sell new shares for the oil giant Saudi Aramco. The offering is set to bring in approximately $12 billion for the kingdom in order to fund the Crown Prince’s economic diversification goal away from purely oil. BANKING Canada’s Big Five Banks Report Q2
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Slack messages and notifications. Email pings. Social media messages and notifications. The world we currently live in is out to suck our attention. How do you stay focused and do any kind of deep-thinking then? Here’s some tips summarized by “A Book a Week”, from the book, Stolen Focus: Why you can’t pay attention and
How to Stay Focused in a Distracted World Read More »
MARKETS The Bond King Has Spoken, He Forecasts… Jeff Gundlach, the CEO of investment management company DoubleLine Capital, aka the Bond King, forecasts a recession for the U.S. this year. BANKING TD Bank Beats Earnings Forecast Amidst Money Laundering Turmoil Canada’s second-largest lender, TD Bank, beat earnings forecasts last quarter despite being mired in a
TD Bank Beats Earnings Forecast Amidst Money Laundering Turmoil Read More »
…then do this one thing.
Want Better Negotiation Outcomes? Read More »
BANKING Digitisation of Banking is Worrying Regulators Cloud computing, AI, Fintech, open banking and more are creating new risks in banking are starting to catch the attention of banking regulators. The Basel Committee is pondering new regulations to help mitigate all the new found risks with the adoption of technology in finance. Maybe they need
Digitisation of Banking is Worrying Regulators Read More »
If you run one-to-one meetings, it might be disheartening to know that around half of one-to-one meetings fail. Here’s some tips for running better one-to-one meetings: How often should you have one-on-one meetings? What’s the purpose of one-on-one meetings? Benefits of one-on-one meetings Tips for a great first one-on-one Leading effective one-on-one meetings One-on-one meeting
How to Run Successful One-to-One Meetings Read More »
CRYPTO FTX Customers Exhale a Sigh of Relief The FTX saga continues, but this is a somewhat happy ending for former customers of the sunk crypto firm: It looks like most of FTX’s customers will get their money back (with interest!). That’s good news. MARKETS Sweden Blinks, Cuts Rates Switzerland was the first to rich
FTX Customers Exhale a Sigh of Relief Read More »
You can no longer ignore that we’re living in a remote & hybrid working environment and it’s not going back 100% to the old ways. Here’s ten mistakes new AND established leaders are making, especially in the new work environment of remote and hybrid work: Your Mindset Sending Mixed Messages Thinking Only You Can Do
9 Mistakes New & Established Leaders Are Making Today Read More »