Finance
Here are your top tips for a financially healthy 2025
Everything you need to know about a financial CD before investing
What is a financial CD and how can they be beneficial investments?
The economy enters 2025 in reasonably good shape, with a low unemployment rate, modest inflation, a trend toward declining interest rates and strong corporate profit growth that has been giving the stock market a lift.
It’s thus not a bad backdrop for getting a fresh start on improving your finances. Here are some trends, issues and tips to mind in coming weeks:
Choose a savings resolution, and stick to it
New Year’s resolutions can provide the motivation to improve your financial situation in many ways, such as building up your retirement plan, reviewing your insurance policies or getting started (or updating) an estate plan.
However, the resolution most Americans are focusing on heading into 2025 is more basic: Sock more money into emergency savings. You can hold money in various forms from a money-market mutual fund to laddered bank certificates of deposit (those coming due in intervals such as every three months).
The idea is to have enough liquid cash to meet big unexpected expenses while earning at least a modest yield in the meantime.
In a Fidelity Investments survey, 72% of respondents said they suffered a notable financial setback this year, with nearly half having to dip into their emergency funds to pay for it. It’s thus no surprise that 79% of respondents hope to build up their cash reserves, 38% worry about unexpected expenses and 20% say another surprise could set them back in 2025. Women, more than men, said they didn’t have an emergency fund to dip into, but 80% of them resolved to build one in 2025.
Get relief from a consumer-friendly banking rule
A new rule that could help some of the most hard-pressed consumers is one that mandates lower overdraft fees at banks.
The federal Consumer Financial Protection Bureau in December issued a final rule that it said will cut typical overdraft fees from $35 per transaction to $5, saving an average of $225 annually for the 23 million or so households that pay such charges.
Bank critics contend the charges hit lower-income people hard.
Overdraft fees are “a form of predatory lending that exacerbates wealth disparities and racial inequalities,” said Carla Sanchez-Adams, senior attorney at the National Consumer Law Center, in a statement.
Some banks including Capital One, Citibank and Ally Bank already have eliminated these fees.
Consumer advocates hail the new rule but caution that it faces the risk of being overturned by Congress. That, they say, could come with simple majority votes in the Senate and House, with limited debate.
Get a jump on tax season, and use free filing services
The IRS is suggesting several steps that can be taken soon for people hoping to get a jump on the filing season for 2024 tax returns. These include gathering and organizing tax records, making an estimated fourth-quarter quarterly payment (if required) by Jan. 15, 2025, and opening an IRS Online Account. Income brackets, deductions and other tax aspects have changed a bit owing to inflation adjustments.
The IRS last year piloted a no-cost, easy-to-use Direct File system in 12 states.
It’s designed for taxpayers with relatively simple situations. The IRS plans to expand access this filing season to 12 more states including Pennsylvania, New Jersey, Connecticut, North Carolina and Oregon.
That sets up a potentially confusing situation where residents of roughly half the country will be eligible, while the other half won’t have access.
Keep an eye on the favorable corporate-profit trend
Baring a last-second collapse, the stock market will finish 2024 with its second consecutive annual gain of more than 20%.
Rising corporate profits or earnings have been the key catalyst, and the picture might improve in the coming year. If you’re an investor, that’s a favorable sign.
Earnings for stocks in the Standard & Poor’s 500 index likely will finish up 7.4% for the fourth quarter of 2024, compared to the fourth quarter of 2023. That’s according to Sheraz Mian, who as research director at Zacks Investment Research tracks what investment analysts forecast for the companies they follow. Earnings growth could accelerate to 10.9% in the first quarter of 2025, 12.5% in the second and 11.3% in the third, he said.
Tech stocks account for a big chunk of the profit gains, led by the “Magnificent 7” of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, and supported by trends including artificial intelligence, advanced computing and robotics.
Will 2025 witness a slowdown here? Not necessarily, as tech is “among the few sectors whose earnings outlook is steadily improving,” Mian said.
Give yourself a financial de-clutter check
Inflation was a big story this year and will continue to make headlines in 2025. If you’re feeling the pinch, it might be time to conduct a thorough review of your spending habits. Take a close look at the many monthly or quarterly expenses that you routinely pay without thinking much about them.
“Audit your spending habits,” suggested John Pharr, a certified public accountant in Florida. “So often we spend money mindlessly with little planning or on things that don’t serve us well.”
Auto, home and other types of insurance are a case in point. Review your coverage with an eye on making sure you have an appropriate amount of coverage and suitable deductibles. It might be time to shop around for better deals.
Other expenses that we sometimes view as “needs” really are “wants” that could be trimmed. Pharr cites subscriptions for streaming platforms, gym memberships, meal deliveries and cell phone and cable-TV services. “Sometimes rates keep rising and we just keep paying without checking into other options,” he said.
Reach the writer at russ.wiles@arizonarepublic.com.
Finance
Bérangère Michel announced as BBC Group Chief Financial Officer
The BBC has announced that Bérangère Michel has been appointed to the role of Group Chief Financial Officer.
Bérangère brings extensive experience from her 16-year career at the John Lewis Partnership, where she held senior roles including Chief Financial Officer, Customer Service Executive Director, Operations Director and Finance & Strategy Director.
Prior to joining the John Lewis Partnership, Bérangère spent 11 years at the Royal Mail Group in a number of finance, change and strategy roles, including as Finance Director of the property division.
In an expanded role as BBC Group Chief Financial Officer, Bérangère will be responsible for the overall BBC Group financial strategy, with a remit across BBC Public Service, BBC Studios and the BBC’s commercial subsidiaries. She will play a leadership role and will sit on both the Executive Committee and, for the first time, the Board.
This position will strengthen the BBC’s financial leadership, support its transformation, and make the best use of the licence fee and commercial opportunities. Bérangère will report to the Director-General and will take up the role in early January.
Director-General Tim Davie says: “Bérangère brings a wealth of experience from her time at the John Lewis Partnership and will play a critical role in shaping our new financial strategy. I’m pleased to welcome her to the BBC, and to both the Executive Committee and Board.
“Bérangère’s appointment to this expanded role comes at an important time for the BBC, as we look ahead to Charter renewal and continue to accelerate our transformation to deliver outstanding value for our audiences.”
BBC Chair Samir Shah says: “The role of Group Chief Financial Officer will be hugely important as we build a BBC for the future, and I look forward to welcoming Bérangère to the Board.”
Bérangère Michel says: “I am delighted to be joining the BBC, an institution whose purpose and mission I have always admired. It’s a privilege to be part of shaping its exciting future at such a crucial moment and I cannot wait to get started.”
BBC Press Office
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Finance
ATI Promotes Longtime Leader to CFO and SVP of Finance
Rob Foster, incoming CFO of ATI Inc., effective Jan. 1, 2026 [Photo: ATI}
ATI Inc., a Dallas-based manufacturer of high-performance materials for the aerospace and defense industries, announced that James Robert “Rob” Foster will be promoted to senior vice president of finance and chief financial officer, effective January 1, 2026.
Foster succeeds Don Newman, who will serve as strategic advisor to the CEO beginning January 1. As previously announced, Newman will retire on March 1, 2026, and serve in an advisory capacity in that time to allow for a smooth transition.
“Rob is a proven P&L leader with enterprise-wide experience in the areas that matter most to ATI’s continued growth,” Kim Fields, president and CEO, said in a statement. “He brings deep expertise not only in finance but also as an operational leader. Rob played a pivotal role in the successful Specialty Rolled Products transformation, consistently helping ATI to deliver strong returns and shareholder value. I look forward to partnering with him as we enter our next phase of profitable growth.”
Foster, a longtime ATI leader, brings both operational expertise and financial discipline to the CFO role, the company said. He most recently served as president of ATI’s specialty alloys & components business, where he improved efficiency, grew capacity, and advanced the company’s role as a global leader in exotic alloys. Foster previously served as vice president of Finance, Supply Chain, and Capital Projects, overseeing ATI’s global finance organization, capital deployment processes, and enterprise supply chain performance. Earlier in his career, he led Finance for both ATI operating segments and the Forged Products business.
“I’m honored to become ATI’s next CFO,” said Foster. “ATI is well-positioned with a strong balance sheet, focused strategy, and significant opportunities ahead. I look forward to working with our team to drive disciplined investment, operational excellence, and long-term value creation for our shareholders.”
Newman added, “Rob is an exceptional leader who understands ATI’s strategy, operations, and financial drivers. He has delivered transformative results across the organization. I look forward to supporting a seamless transition as we pursue this next step in our succession planning.”
Before joining ATI in 2012, Foster held senior finance roles at API Technologies Corp. and Spectrum Control Inc., where he led ERP implementations, acquisition integrations, and internal control enhancements. He began his career as an auditor at Ernst & Young (EY).
ATI produces high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical, and specialty energy.
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Finance
Abu Dhabi seeks to build bridge between new media & finance – The Times of India
ABU DHABI: Instead of waiting for the future of media, Abu Dhabi is building it. The city played host this week to leading names from media and entertainment industries at the Bridge Summit, aptly named for seeking to position the emirate at the intersection between new-age media, innovation and investment.The three-day event at Abu Dhabi National Exhibition Centre from Dec 8 to 10 buzzed with energy, new ideas, collaborations and MoU deals as thousands of content creators, media brands, communicators, tech developers, AI innovators, investors and academics — who have been working in isolation — converged to brainstorm ideas, analyse future trends in the media industry and discuss ways to monetise them. How to get around the associated risks of privacy violation, fake news and narratives, defamatory content and online harassment were a natural corollary to the discussions.The idea of Bridge Summit originated at a lunch meeting in Abu Dhabi earlier this year between Sheikh Abdulla Bin Mohammed Bin Butti Al Hamed, chairman of UAE National Media Office, and Richard Attias, the Moroccan events producer associated with the Clinton Global Initiative, Nobel Laureates Conference and Davos Forum. The two discussed how UAE could give media, creators, tech innovators, social media outlets and investors a platform to connect and build the future of media. Eight months later, that dream turned into reality with Bridge Summit.Al Hamed, in his opening address, outlined Bridge Summit’s mission to unite media, technology, finance, and culture in building a more trusted, inclusive, and resilient information order.Speaking to TOI on the sidelines of the summit, Jamal Mohammed Obaid Al Kaabi, DG, UAE National Media Office and Bridge Alliance vice-chairman, said the forum seeks to secure a win-win situation for all, be it govts, media, content creators, social media platforms, gamers, investors and technology providers. “We are trying to help everyone — those who have a story to reach production, a company to reach a customer and govts to understand what’s happening in the market”.He added: “We believe that Bridge can be the brand that people will trust and look at in the future. We can connect it with media initiatives around the world. We believe that positive narrative can be supported through Bridge”.The global media and entertainment industry generated over $2.8 trillion last year, with gaming alone rivaling film and television at nearly $200 billion. Streaming continues to reshape consumption, while nearly 70% of content creators are already using AI tools.Rubbing shoulders at the summit were former heads of state, journalists, representatives of social media platforms, AI innovators, gaming developers, entrepreneurs and media influencers from across the globe; actors Priyanka Chopra Jonas and Idris Elba and footballer Gerard Pique lent it star power.Over three days of fireside chats, panel discussions, workshops and MoU signing, content creators and influencers took lessons from experts and peers on how to tell their stories better and hold their audience’s attention till the last frame.With artificial intelligence (AI) tools revolutionising the media space and content creation industry, engagements delved into how to maintain a judicious balance between human intelligence and artificial intelligence while tailoring content to suit users’ preferences and attention span.Sessions reflected on how the traditional print and TV journalism is being rapidly taken over by digital news content. Justin Smith, CEO of independent global news company Semafor, predicted that human journalist will continue to be relevant as the primary resource for original information, but must learn to harness the power of AI to add value. Richard Attias, who is on the Bridge board of directors, had a word of caution: “Human intelligence needs to always challenge artificial intelligence. We should not be losing the control of AI, which is like a robot”.According to UK journalist and broadcaster Emily Maitlis, agenda-based journalism is inevitable in the age of social media as one with a louder voice and reach, who can put out his version of the story more convincingly, tends to control the narrative. Adeline Hulin, chief of media and information literacy unit at Unesco, revealed that a global survey had found that 62% users don’t do any fact-checking before forwarding information online; most content creators are unaware of the international standards of freedom of expression; and just 20% users report hate speech. “Unesco has developed a global curriculum for media information literacy. We are working to integrate it with formal education and getting local partners to organise hackathons,” she said.Former deputy PM of UK Oliver Dowden advocated industry-led responsibility over sweeping regulation, saying there should be “clear guardrails” as creator content becomes the primary source of information for young audiences.Al Kaabi said Bridge Summit is just the beginning and “pop up” events will be held each coming quarter across America, Asia, Europe and Africa. “We want to hold a mini-Bridge in India. Also, there shall be more of Bollywood, not just Priyanka, at the next edition of the summit here,” he said.(The writer was in Abu Dhabi at the invitation of Bridge Alliance)
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