Protect your future finances as layoffs spike nationwide

Published

2 months ago

September 7, 2024

Protect your future finances as layoffs spike nationwide

CHICAGO (WLS) — Job losses in the U.S. spiked in August to a five-month high of jut over 75,000 cuts a month, according to a new report from Challenger, Gray & Christmas.

And as employers sweat the budget crunch, financial experts at the website “MarketWatch” have tips in case you are ever laid-off.

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First, make sure to connect with your Human Resource manager to get a clear understanding of severance pay details.

Reconfigure your budget and trim unnecessary items.

You should also line up healthcare coverage through COBRA and utilize your HSA for medical expenses and for unemployment benefits.

Update your resume. And if you can, expand your skills through training or new certifications.

It’s also a good idea to prepare for the unexpected by setting up a high-yield savings account or any other cash savings account, in case of emergencies.

Here’s a link to the study for more information.

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New Blueprint for Financing Community Development (SSIR)

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5 hours ago

November 19, 2024

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New Blueprint for Financing Community Development (SSIR)

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Top bankers stress resilience and wisdom key to navigating uncertainty

Published

13 hours ago

November 19, 2024

Press Room

Top bankers stress resilience and wisdom key to navigating uncertainty

The leaders of some of the world’s biggest financial companies firmly believe “resiliency and wisdom” hold the key to a global economy facing geopolitical tensions, financial market jitters and uncertainty about the coming transition in Washington.

Market participants should handle the challenges coming from all directions step by step while keeping faith that the issues can be resolved, they said at the Global Financial Leaders’ Investment Summit in Hong Kong on Tuesday. The event, organised by the Hong Kong Monetary Authority, is in its third year and this year’s theme is “Sailing through changes.”

“We’re seeing everyone recognise we’ve got to build up resiliency,” said Jane Fraser, CEO of Citigroup. “It’s easy to say globalisation is dead. It’s not. It’s just changing tremendously.”

BNP Paribas chairman Jean Lemierre said trade is a matter of negotiation. “The end result will be an agreement because otherwise it would be terrible for each of us.”

Lemierre said that wisdom should lead to solutions for trade tensions, which is all about “tariff, quota, reciprocity and timing”.

“We know the parameters of the discussion, so wisdom should lead to this type of approach,” he said.

Finance

COP29: Carbon Finance Summit – Session 2

Published

21 hours ago

November 18, 2024

Press Room

Greening and scaling up public finance is critical, but it is not enough. Significantly scaling up private sector finance, including through greening value chains, green financial products (e.g. funds and loans) and carbon finance is needed to channel more resources toward activities with a positive impact on the environment and society.