According to the recent book by Frank Cespedes, a Harvard Business School professor, much of the conventional wisdom for sales is misleading and not supported by empirical data. In part 1 of our discussion, hear the insights Frank writes about that could help your sales team develop a better strategy for winning in the marketplace.
Historically, bank branches have been an integral component of the retail-banking distribution model. However, given the rapid adoption of new technology in the financial services industry and changing customer preferences, many institutions are transitioning from the traditional physical branch model to more digitally focused channels. As a result of this shift, institutions are now forced to reexamine their physical presence within the communities they serve. There are many factors that need to be considered when evaluating whether to close or consolidate a branch. In addition to the economic and financial impact of closing a branch, it is vital that institutions also consider the legal and compliance risks related to Community Reinvestment Act (CRA) ratings and fair lending as part of a branch evaluation.
Institutions should evaluate the impact of closing a branch office in the communities it serves, particularly to low- and moderate-income geographies or...
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Massive hog culling in the Dominican Republic after the outbreak of a deadly swine disease has led the country to stock up on U.S. pork.
Exporters last week sold a record amount of the meat to the island nation, U.S. Department of Agriculture data showed Thursday. That’s after African swine fever was detected in hogs there in late July, in the first outbreak in the Americas in four decades.
- Lilium’s sale to a blank-check company this week generated a 29-fold return on early investor Atomico’s initial investment, an extraordinary outcome for its bet on the German air-taxi startup that hasn’t had a commercial launch yet.
Atomico Chief Executive Officer Niklas Zennstrom had reservations about the startup and whether it made sense for the venture capital firm, which specializes in early-stage European tech companies. “We don’t really invest in airplanes,” he recalled thinking at the time.
Innovation has brought us to an inflection point; the coming decade will be decisive
When we gathered in Paris in 2015 to hammer out the historic climate deal, few of us dared hope that by 2021 more than 60 countries—representing over half of global emissions—would have committed to net zero emissions by mid-century. In addition, 4,500 non-state actors, such as companies, cities, regions, and other institutions, have embraced a net zero target. Asset owners and managers are also now stepping up, with over $40 trillion of assets under management committed to net zero portfolios by 2050.
What has brought us to this inflection point of hope edging out despair?
Innovation—in institutions, understanding, technology, and leadership. The Paris deal itself was hugely innovative. Politics ruled out a legally binding treaty, so a new approach had to be forged. Fiercely criticized by some for its voluntary nature and non-binding...
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LONDON, Sept 16 (Reuters) - The European Union should allow clearing houses in Britain to continue serving customers in the bloc to avoid a significant risk of market disruption, nine financial industry bodies said on Thursday.
Britain fully left the EU last December and the London Stock Exchange, whose LCH SwapClear arm clears the bulk of swaps denominated in euros, has temporary permission to continue serving customers from the EU until June 30 next year.
Brussels is putting pressure on banks to shift activity worth trillions of euros to Deutsche Boerse's Eurex arm in Frankfurt where it could be directly supervised for any threats to financial stability.
In a letter on Thursday to EU financial services chief Mairead McGuinness, the industry associations call on her to provide certainty to the market by either extending the current temporary permission or granting open-ended permission to allow a "natural" shift in business from London to Frankfurt already...
Short-seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial News in a Barron's Live event earlier this month. The influential investor discussed the wild ride in markets this year, and how he approaches conditions he says are hard for short-sellers.
Below is an excerpt from the interview. It has been edited for length and clarity.
My mother has stated that when she and my father pass away, they’d like for my three siblings and I to split any inheritance four equal ways. She has also stated that she would want the grandchildren to get something too. I am single and childless, as I intend to continue to be.
At this point, all of my siblings have offspring totaling seven grandchildren, with more planned on the way. To me, it seems more fair to split the inheritance four ways, and then to state in the will that each parent/sibling give an amount my mother and father want each grandchild to receive.
The link can carry up to 2GW of power, and had been importing electricity from France in recent days, after UK prices hit a record high of £540 per MWh on the wholesale energy market.
- Vectura Group Plc is set to go ahead after the tobacco giant obtained control of most of the U.K. asthma drug maker’s shares.
Despite concerns raised from a range of health charities, Philip Morris has taken control of 74.8% of Vectura’s shares and its offer is now unconditional, the company said in a
China’s campaign against the cryptocurrency industry is now targeting miners who tried to disguise themselves as data researchers and storage facilities to stay in business, according to people with knowledge of the situation.
Inspections intensified this month in several Chinese provinces, targeting illegal mining activities in colleges, research institutions and data centers, said the people who asked not to be named due to the sensitivity of the matter. Concern over the country’s power supplies for the upcoming winter season is one reason for the urgency, they said.
- Bank of Montreal wealth-management head Joanna Rotenberg is leaving the bank to pursue another opportunity.
The lender will announce her successor “in the near future,” and the unit’s senior leadership team will report directly to Chief Executive Officer Darryl White in the interim, according to an internal memo. Rotenberg will provide “full transition support” in the coming weeks, according to the memo, which didn’t specify her new position.
KUALA LUMPUR, Sept 16 (Reuters) - Malaysia said on Thursday audit firm KPMG has agreed to pay a 333 million ringgit ($80.11 million) settlement to resolve all claims related to their fiduciary duties on auditing of 1Malaysia Development Berhad (1MDB) accounts from 2010 to 2012.
The finance ministry said in a statement that the settlement will conclude a lawsuit filed against the auditor in July, and that KPMG will expedite the payment.
KPMG confirmed to Reuters in an email that a settlement has been reached in the claim filed against a number of defendants including some partners of the audit firm.
"This settlement represents a collective agreement by all the parties, including the Malaysian government," it said.
The outcome, it said, will enable all involved to "move forward and focus on other important business, health and economic issues", and for the firm to focus on building public trust.
The finance ministry said the settlement was valued at...
Sept 16 (Reuters) - Iran’s new government has approved use of U.S. firm Johnson & Johnson's (JNJ.N) COVID-19 vaccine, a senior official said on Thursday, as the Islamic Republic fights a fifth wave of infections.
The announcement came eight months after Supreme Leader Ayatollah Ali Khamenei banned imports of vaccines made by the United States and Britain - though Iran has since accepted vaccines developed by Western firms but manufactured elsewhere.
President Ebrahim Raisi’s administration is under public pressure to broaden its sources of vaccines as infections mount in its deadliest wave yet.
“The Johnson & Johnson single-dose corona vaccine has been approved,” the head of Iran's Food and Drug Administration, Mohammad Reza Shanehsaz, was quoted as saying by Iranian media.
He did not say where the vaccine would be produced or refer to the ban.
In January, Khamenei banned the government from importing COVID-19 vaccines from United States...
DUBLIN, Sept 16 (Reuters) - Ryanair (RYA.I) lifted its five-year passenger forecast on Thursday, saying the delivery of an existing Boeing (BA.N) order and increased use of older aircraft would allow it to grow faster without the need for an additional large plane deal.
Europe's largest low cost carrier last week abruptly ended talks with the U.S. planemaker over a new order of the larger 737 MAX 10 jets, worth tens of billions of dollars, due to differences over price.
Shares of the airline jumped 7% on Thursday after it raised its passenger growth forecast.
"If we don't do another order until 2025, frankly we couldn't care less. The one great thing about the airline industry is we know there's going to be another crisis in five years' time (to drive down jet prices)," Chief Executive Michael O'Leary told an analyst call after Ryanair's annual general meeting.
The Irish airline, one of Boeing's biggest customers, will keep talking to the planemaker,...
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