Aflac (AFL) Adds Mental Health Coverage to Up Insurance Product

Insurance

By

Richard Meier

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September 10, 2022

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Aflac (AFL) Adds Mental Health Coverage to Up Insurance Product

Aflac Incorporated AFL recently introduced an enhanced version of its income protection insurance product, Individual Short-Term Disability Insurance. The upgrade came in the form of including mental health coverage in the product.

Shares of Aflac have lost 1.3% on Aug 19, replicating declines in the broader markets.

It’s worth mentioning that Aflac’s product offers a vital workplace perk packaged as a monthly earning to an employer’s workforce. The income will provide a cushion to an employee while absent from work due to a disability from a mental health condition or any other injury included in the coverage.

The coverage assured by the improved Individual Short-Term Disability Insurance to policyholders now includes disabilities arising from common mental health conditions like schizophrenia, bipolar disorders, depressive disorders, anxiety disorders, eating disorders, etc.

Raising further optimism for policyholders, the product assures to exclude rate increases from the expanded coverage offered by the enriched product.

Additionally, the newly-advanced product will comprise optional riders to help boost policyholders’ income protection coverage in the days ahead. As a result, employees can customize their coverage per distinctive individual needs and budgets, and subsequently, receive treatment, recover quickly and resume work.

Lack of such products can induce out-of-pocket expenses to exert pressure on the finances of employees unable to work due to a disability. Equipped to handle such headwinds, the Individual Short-Term Disability product of Aflac tends to ease employees’ physical, financial and mental stress.

The recent product enhancement bears testament to Aflac’s consistent efforts to boost offerings in the mental health space. This apart, the move will likely bolster its reputation of being one of the leading providers of short-term and long-term disability benefits throughout the United States.

The product upgrade seems aptly timed since Americans have been grappling with rising mental health issues for quite some time. The COVID-19 pandemic only aggravated the scenario further, necessitating the need for accessible and better mental health services. This clearly indicates solid demand for behavioral healthcare services, which gives Aflac a perfect opportunity to capitalize on. In February 2022, AFL collaborated with the digital health platform NeuroFlow to integrate a mental health solution into its Group Long-Term Disability offering.

Shares of Aflac have gained 9% year to date compared with the industry’s rally of 7.7%. AFL currently carries a Zacks Rank #3 (Hold).

Zacks Investment Research

Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks from the insurance space are MGIC Investment Corporation MTG, The Hartford Financial Services Group, Inc. HIG and Radian Group Inc. RDN. While Radian Group sports a Zacks Rank #1 (Strong Buy), MGIC Investment and Hartford Financial carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The bottom line of MGIC Investment outpaced estimates in three of the last four quarters and met the mark once, the average surprise being 22.25%. The Zacks Consensus Estimate for MTG’s 2022 earnings suggests an improvement of 27.2%, while the same for revenues indicates growth of 3.8% from the corresponding year-ago reported figures. The consensus mark for MTG’s 2022 earnings has moved 6.1% north in the past 30 days.

Hartford Financial’s bottom line outpaced estimates in each of the trailing four quarters, the average being 34.08%. The Zacks Consensus Estimate for HIG’s 2022 earnings indicates a 17.2% rise, while the same for revenues suggests 4.2% growth from the respective prior-year reported figures. The consensus mark for HIG’s 2022 earnings has moved 6.8% north in the past 30 days.

The bottom line of Radian Group outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 29.51%. The Zacks Consensus Estimate for RDN’s 2022 earnings suggests a 32.7% improvement from the prior-year reported figure. The consensus mark for RDN’s 2022 earnings has moved 16.1% north in the past 30 days.

Shares of MGIC Investment and Radian Group have gained 5% and 6.9%, respectively, year to date. The Hartford Financial stock has lost 2.2% in the same time frame.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Hartford Financial Services Group, Inc. (HIG) : Free Stock Analysis Report

MGIC Investment Corporation (MTG) : Free Stock Analysis Report

Aflac Incorporated (AFL) : Free Stock Analysis Report

Radian Group Inc. (RDN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

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https://finance.yahoo.com/news/aflac-afl-adds-mental-health-190107888.html

G7 ministers forge ahead with Russian oil price cap, details thin

Finance

By

Richard Meier

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September 10, 2022

0

G7 ministers forge ahead with Russian oil price cap, details thin

By David Lawder and Christian Kraemer

(Reuters) -Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow’s war in Ukraine while keeping oil flowing to avoid price spikes, but Russia vowed to halt sales to countries imposing it.

The ministers confirmed their commitment https://www.bundesfinanzministerium.de/Content/EN/Downloads/G7-G20/2022-09-02-g7-ministers-statement.pdf?__blob=publicationFile&v=7 to forming a buyer’s cartel after meeting virtually. They said, however, that key details, including the per-barrel level of the cap would be determined later “based on a range of technical inputs” to be agreed by the coalition of countries implementing it.

“Today we confirm our joint political intention to finalise and implement a comprehensive prohibition of services which enable maritime transportation of Russian-origin crude oil and petroleum products globally,” the ministers said.

The provision of Western-dominated maritime transportation services, including insurance and finance, would be allowed only if the Russian oil cargoes are purchased at or below the price level “determined by the broad coalition of countries adhering to and implementing the price cap.”

Oleg Ustenko, a senior economic adviser to Ukrainian President Volodymyr Zelenskiy, welcomed the development, and said he expected the price range to be between $40 and $60.

“This is fantastic. It’s exactly what we needed” to reduce the revenues that Russia was collecting, he told Reuters. Brent crude futures rose 66 cents to $93.02 a barrel on Friday.

Zelenskiy himself, in a video address, said a cap should also be imposed on Russian natural gas exports.

A senior U.S. Treasury official said the coalition would set a dollar price limit for Russian crude and two others for petroleum products — not discounts to global market prices. The cap would be revisited as needed.

The G7 ministers said they would work to finalize the details in time to launch by Dec. 5, when new European Union sanctions initiate a ban on Russian oil imports.

German Finance Minister Christian Lindner, the current G7 finance chair, said the price cap on Russian oil exports was designed to reduce President Vladimir Putin’s revenues.

“At the same time, we want to curb rising global energy prices. This will minimize inflation globally,” he said.

OIL CUTOFF THREAT

The Kremlin responded by saying it would stop selling oil to countries implementing the price cap, saying it would destabilize global oil markets.

“We simply will not cooperate with them on non-market principles,” spokesman Dmitry Peskov told reporters.

Nonetheless, U.S. Treasury Secretary Janet Yellen said Russia would still have an economic incentive to sell oil at or near the cap, because otherwise it would have to shut down production that would be difficult to restart. China and India also would seek to buy oil at the capped price, she added.

French Finance Minister Bruno Le Maire injected a dose of reality, telling his G7 counterparts that more work was needed to work out technical details, persuade a critical mass of importers to join the plan and preserve European unity on the subject, his office said in a statement.

“We got positive signals from other countries, but no firm commitments yet,” a senior G7 source said of efforts to recruit other countries. “We wanted to send a signal of unity towards Russia and also countries like China.”

The G7 announcement had little effect on benchmark crude prices, which rose in anticipation of an OPEC+ discussion of output cuts on Monday amid weaker demand

Enforcing the cap would rely heavily on denying London-brokered shipping insurance, which covers about 95% of the world’s tanker fleet, and finance to cargoes priced above the cap. But some analysts say alternatives could be found to circumvent it.

The G7 ministers said they would seek to limit circumvention through “a record-keeping and attestation model covering all relevant types of contracts” that aims for consistent enforcement across jurisdictions.

Despite Russia’s falling oil export volumes, its June export revenue increased by $700 million from May due to prices pushed higher by its war in Ukraine, the International Energy Agency said last month.

PRICING CONCERNS

The U.S. Treasury has raised concerns the EU embargo could set off a scramble for alternative supplies, spiking global crude prices to as much as $140 a barrel, and it has been promoting the price cap as a way to keep Russian crude flowing.

Russian oil prices have risen in anticipation of the EU embargo, with Urals crude trading at an $18-to-$25 per barrel discount to benchmark Brent crude, down from a $30-to-$40 discount earlier this year.

(Additional reporting by Jan Strupczewski, Matthias Williams, Steve Scherer, William James, Leigh Thomas, Timothy Gardner, Daphne Psaledakis, Andrea Shalal, David Ljunggren and Rami Ayyub; Editing by Raju Gopalakrishnan, Chizu Nomiyama, Jonathan Oatis and Andrea Ricci)

https://www.yahoo.com/finance/news/g7-finance-chiefs-seen-advancing-053840130.html

Why energy companies need digital marketing more than ever

Digital Marketing

By

Richard Meier

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September 10, 2022

0

Why energy companies need digital marketing more than ever

Digital Marketing can be extremely difficult for energy companies. Whether they don’t have the (internal) resources to effectively manage a digital marketing strategy, they don’t have the expertise, or if they don’t see marketing having a direct impact on their sales can all lead to these companies abandoning their goals. But none of the above excuses should be a reason to neglect a strategy since digital marketing is more important than ever for energy and industrial companies. This is especially key for principal-led companies who are ‘do or sell’ roles as the principals seldom have time to sell before because they are busy doing. Digital tools can accommodate this, especially for those who have options to use those tools cost effectively with ‘fractional’ expert marketing personnel.

The traditional sales and marketing landscape has been steadily evolving over the last ten years, but since Covid-19 B2B businesses who have adopted digital technologies have seen their business grow as compared to their peers. While the world is more open than before Covid, the impact and the companies that embraced technologies have remained such as Zoom meetings and buying products online. There has been tremendous growth in the value of the B2B Marketplace, which has more than doubled from last year’s $65 Billion valuation to $140 Billion and continues to grow.

Digital marketing needs to have a strategy in place prior to anything else. The first step in determining your strategy is to understand your target market, determine who are they, where they come from, and how they buy; the more information you can gather on your target audience (or by creating ideal customer profiles) the better you can serve your customers, and the more conversions you will generate. Being able to adequately serve your target audience will create a strong product/market fit and make sales that much easier for your team. Once your team knows how to reach someone who is looking to buy, all they need to do is present and close the deal. Even if a target customer is not ready to buy your product, you will still be able to nurture them from the top of the funnel into a sales-ready position later on. Sales can then be much like engineering, rather than a random event.

Software has plenty of benefits that help to reach out to contacts at the right time, such as if they recently revisited your website to download information, re-opened an old sales email, or clicked on one of your ads or content. Effective digital marketing and advertising then allows your salespeople to focus on making sales instead of looking for sales. But before you depend on software and technology, keep in mind that expertise in digital marketing is foremost. Did you know that the Canada Digital Adoption Program (CDAP) can help your small and medium-sized business to adopt new digital tools to help improve e-commerce or digitalize your business’s operations? CDAP provides funding and support to businesses because the government knows that to be competitive, businesses have to purchase digital expertise.

ActiveConversion is home to leading digital marketing experts who have helped hundreds of energy and industrial companies reach their goals. Find out more here: http://activeconversion.com/managed-services/

Why energy companies need digital marketing more than ever

Amazon Has No Plan Requiring Workers to Return to Office

Business

By

Richard Meier

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September 9, 2022

0

Amazon Has No Plan Requiring Workers to Return to Office

Amazon CEO Andy Jassy has said the online retail juggernaut has no plan requiring its workers to come back into the office following the remote work model adopted during the COVID-19 pandemic.

“I don’t really believe that we’re going to end up coming back to the office,” Jassy said Wednesday at the Code 2022 conference in Los Angeles with host Kara Swisher.

While Jassy acknowledged that some things are more difficult while on video calls rather than in person, such as bonding as a team, he said most departments are continuing to work hybrid or remotely.

“At the end of the day, we have to deliver the right results for customers, and people understand whether they work remotely or in an office that that has to be the No. 1 priority. And so we’re trying lots of experiments, and we’ll see over the next year.”

By contrast, tech giants Apple, Google and Twitter earlier this year began requiring their workers to go back into offices at least several days a week.

Jassy also shared his thoughts on the health care industry and union efforts at Amazon warehouses on Wednesday.

About the company’s recent decision to shutter Amazon Care, Jassy reiterated Amazon’s stance that offering phone and in-home appointments wasn’t going to scale well as a business. Jassy added that said he thinks there’s still an opportunity for a service that provides home visits, but that the right business model still needs to be identified.

Amazon is shifting to a model that streamlines primary care services along with its Amazon Pharmacy service. The company recently agreed to buy One Medical, which offers brick-and-mortar as well as telehealth appointments. Jassy said the company’s model of allowing patients to book 30- or 60-minute appointments will prompt better care.

“I think if there’s ever a customer experience that needs reinvention, particularly in the US, it’s health care,” Jassy said.

After the interview, an audience member asked about Amazon’s efforts to convince workers not to unionize. Jassy noted Amazon has taken issue with the election process that led to the first union victory at a US Amazon warehouse in April.

The National Labor Relations Board appears poised to reject Amazon’s objections and certify the union, but Amazon could still refuse to bargain with the union and appeal through the federal court system. On Wednesday, Jassy indicated the company is ready to keep pushing its objections through the legal process.

“I think that’s going to take a long time to play out,” Jassy said Wednesday.

https://www.cnet.com/tech/amazon-has-no-plan-requiring-workers-to-return-to-office/

New shared banking hubs to open in 13 more places

Banking

By

Richard Meier

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September 9, 2022

0

New shared banking hubs to open in 13 more places

A trial bank hub, run by the Post Office and shared by five mainstream banks, opened in Essex last year

Another 13 locations have been earmarked for shared banking hubs in areas where the last branch has closed.

A swathe of branch closures have raised concerns about access to cash for those who need it, and difficulties for small businesses trying to deposit takings.

Ten other areas were previously identified, but the doors have yet to open on any of their new hubs.

Ministers have prepared legislation to ensure people can access cash locally, while experts say hubs are not enough.

“Cash is disappearing at a frightening rate, and so are ATMs and branches and it is not acceptable to leave communities without access to cash,” John Howells, chief executive of Link – which is the biggest interbank network in the UK – told BBC Radio 4’s Today programme.

“There is real investment and effort going in by the banks now…But now that pace needs to be picked up,” he added.

At these hubs, customers of any bank can access their accounts, deposit cash and cheques, and withdraw money at any time. Trickier enquiries are dealt with by a representative from one of each of the major banks who each visit once a week.

Among the 13 new proposed banking hub sites, four are in Scotland and, for the first time, one is in Northern Ireland, in Kilkeel.

They will be in Brechin in Angus, Forres in Moray, Carluke in Lanarkshire, Kirkcudbright in Dumfries and Galloway, Axminster in Devon, Barton-upon-Humber in Lincolnshire, Lutterworth in Leicestershire, Royal Wootton Bassett in Wiltshire, Cheadle in Staffordshire, Belper in Derbyshire, Maryport in Cumbria, Hornsea in Yorkshire, and also in Kilkeel.

The BBC visited a prototype shared banking hub in Rochford, Essex, and was told it had been “a lifeline” for many people living in the area after the last branch in town closed.

Running costs are the same as a small branch, but are shared between different banking groups that use it.

Natalie Ceeney, who chairs the Cash Action Group which is overseeing the project, said: “Cash still matters hugely to millions of people across the UK and with the cost-of-living crisis biting, more and more people are turning to cash as a way of budgeting effectively. Banking Hubs are an important part of the solution.”

Wait to open

Each time a core banking service such as a cash machine or bank branch is closed, an assessment is carried out by Link – the organisation which currently oversees the UK’s ATM network.

The review studies the cash needs of the community, such as how easy it is to travel to the nearest alternative service, as well as the demographics and vulnerability of local residents. The criteria are set by a group of banks and consumer representatives.

The latest locations have been identified as part of that work.

However, it can take months for these new hubs to open. As well as finding a suitable premise, often changes are needed to ensure it is fully accessible and secure enough for banking services.

There has been some criticism that services have not yet started in any of the previously-announced locations for banking hubs, apart from the two trial premises in Rochford and Cambuslang, in Scotland.

Ron Delnevo, a business consultant with years of experience in the ATM industry, said that “the promised hubs don’t even scratch the surface in terms of satisfying the banking needs of the UK”.

Mark Aldred, of banking technology company Auriga, said: “As we go into a cost of living crisis that’s hitting households and businesses alike, these shared hubs are good on paper but could go further and faster.”

A Financial Conduct Authority spokesperson said: “Firms need to pick up the pace and deliver more banking hubs. We expect this to be done as a priority.

“Banks and building societies must treat their customers fairly and provide alternatives to branches where needed. Banking hubs are one of a range of tools they can use to ensure communities have easy access to bank services and cash.”

In addition to the hubs, withdrawal and deposit machines – which are unstaffed but can allow businesses to cash in their takings – will be placed in libraries and community centres and available during their opening hours.

They will be in Swanley and Faversham, both in Kent, Holywood in County Down, Shanklin on the Isle of Wight, Atherstone in Warwickshire, Billericay and Dunmow, both in Essex, Bourne in Lincolnshire, Holyhead on Anglesey, llfracombe in Devon, Swanage in Dorset, and Wallingford in Oxfordshire.

The government has been planning to bring in new laws to ensure people only have to travel a relatively short distance to access cash withdrawal and deposit services.

This is seen as vital to the future of cash, and particularly for its acceptance by businesses in rural communities who currently find they are shutting and travelling miles for their nearest banking services.

https://ca.sports.yahoo.com/news/locations-revealed-shared-banking-hubs-230109270.html

Mystery hours before Sydney woman died

Accounting

By

Richard Meier

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September 9, 2022

0

Warning: Contains distressing content.

The death of an Ernst and Young (EY) employee in New South Wales, Sydney, has triggered conflicting accounts as to exactly what occurred in the hours before the tragedy.

In the early hours of Saturday morning, the body of a 27-year-old woman (previously reported to be 33) was found at the financial service firm’s Sydney CBD offices. Police are not investigating her death as suspicious and believe self-harm was involved.

However, the events of the night and the hours before the incident are still murky and inconsistent between investigations conducted by NSW Police and the financial services firm.

Five-hour missing window

On Wednesday, communication from EY stated that “initial investigations indicate she left the EY building at around 7.30pm and returned after midnight”.

However, news.com.au understands these comments were made separate from the official police investigation.

According to The Australian, police are “unequivocal” that the woman returned to the office between 7pm and 7.30pm, with CCTV and witnesses confirming her attendance. At 8pm she was on a call with her husband who flew into Sydney from Singapore later that night, when he learned of her death.

The publication also reports she left the office about noon on Friday before attending a function organised by EY’s social committee held at The Ivy.

Where both accounts converge is the fact that emergency services were called to EY’s Sydney CBD’s offices about 12.20am early Saturday morning following a concern for welfare report. There, they found the body of the 27-year-old.

News.com.au has contacted EY for comment, however they did not respond at the time of publishing.

The woman attended a work social function at The Ivy before returning to the offices.

EY ‘aren’t addressing it at all’, staff say

Since Saturday morning, staff at EY have complained of being left in the lurch.

News.com.au understands that since Saturday morning’s tragedy, staff have only received one email which stated that a team member had died at the Sydney building over the weekend.

During a pre-scheduled firmwide meeting on Wednesday, employees say the woman’s death was not addressed.

“They brushed over the incident at the start of the call and then went on to talk about the EY demerger for the remaining 50 minutes,” one employee told the anonymous social media page, Aussie Corporate.

Another current staffer said: “There’s a black cloud looming over us at EY and it has been so odd because people are skirting around the event. They’re either saying ‘it’s so sad’, or just aren’t addressing it at all.”

News.com.au understands that even financial auditors at the Sydney office are unaware of the identity of the woman.

On Reddit, one Sydney employee said they were shocked no flowers had been left at the building.

“I do care deeply that I walked into the office this week and not even a single bunch of flowers acknowledged the deeply tragic events of the weekend,” wrote one Reddit user.

In a statement to news.com.au, CEO and regional managing partner David Larocca confirmed that a 24/7 Employment Assistance Programme has been offered to all staff and families, with onsite counselling services also available.

Inside dark work culture where 27-year-old died

Since the employee’s death, current and former employees have told news.com.au of the culture of overwork which occurs in major financial services businesses, particularly among financial auditors. Ex-staff cited 70 to 80-hour work weeks, especially during peak periods from July to September.

These claims were consistent with those made by employees from other Big 4 accounting firms which include PricewaterhouseCoopers (PwC), KPMG and Deloitte.

One former auditor who’s worked at PwC and EY described the culture at the Big 4 firms as an “iron man contest”.

“You survive or leave,” he told news.com.au, on the basis of anonymity.

News.com.au is not suggesting the work culture at EY contributed to the employee’s death and the employee’s identity and role within the company has not been disclosed.

– Jessica Wang, news.com.au

HELPLINES
SUICIDE AND DEPRESSION

Where to get help:
• Lifeline: 0800 543 354 (available 24/7)
• Suicide Crisis Helpline: 0508 828 865 (0508 TAUTOKO) (available 24/7)
• Youthline: 0800 376 633 or text 234 (available 24/7)
• Kidsline: 0800 543 754 (available 24/7)
• Whatsup: 0800 942 8787 (12pm to 11pm)
• Depression helpline: 0800 111 757 or text 4202 (available 24/7)
• Anxiety helpline: 0800 269 4389 (0800 ANXIETY) (available 24/7)
• Rainbow Youth: (09) 376 4155
If it is an emergency and you feel like you or someone else is at risk, call 111.

https://www.newstalkzb.co.nz/news/world/accounting-firm-death-contested-timeline-between-police-and-business/

E-scooter collision creates insurance headache for Lethbridge SUV owner – Lethbridge

Insurance

By

Richard Meier

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September 9, 2022

0

E-scooter collision creates insurance headache for Lethbridge SUV owner – Lethbridge

Hans Schulz’s vehicle was parked on the street outside a downtown Lethbridge nightspot on Apr. 16, while he enjoyed some live music inside. Schulz was standing on the sidewalk between acts when his crossover SUV was hit by an e-scooter.

“I was talking to some people. I had my back to the van and all of a sudden I just hear a big bang,” Schulz said.

According to police, the e-scooter driver was issued an immediate roadside sanction fail, meaning there were grounds to believe she was operating the e-scooter while under the influence of alcohol or drugs, or over the federal legal limit for alcohol or drugs.

After receiving a quote for $4,121.31 to repair the damage, Schulz notified Allstate — his insurance provider — and he says roughly a month later, his claim was originally approved.

Read more:

Neuron e-scooters and e-bikes launch in Lethbridge

Story continues below advertisement

“(Allstate) phoned the repair shop and said that everything was OK,” Schulz said. “Twenty minutes later, they phone back: ‘Oh, we’ve got bad news. Our supervisor disallowed the claim.’”

“I had insurance, so why can’t I get (anything) done? It wasn’t my fault.”

Global News contacted Allstate on Monday. On Tuesday, exactly four months after the crash, Allstate approved the claim.

“(The Allstate representative) apologized and she says everything is a go and that everything is her fault,” Schulz said. “That’s why I can go and get my vehicle fixed now.”

Allstate Insurance Company of Canada provided a statement, telling Global News Schulz has been given the full repair value for his vehicle, which is now being repaired.

Read more:

1 person taken to hospital after vehicle, e-bike collide in Brampton: police

“Given the rise in popularity of e-bikes, e-scooters, hoverboards, etc., Allstate would like to remind Canadians to review their policies to ensure that they have the appropriate coverage in place to cover any losses arising from these new modes of transportation,” the statement reads.

But the company did not provide any explanation as to why it took four months and an e-mail from Global News for that to happen.

Story continues below advertisement

“I couldn’t sleep, I tossed and turned,” Schulz said of his experience. “I was very angry.”

2:03
Kelowna’s top orthopedic surgeon continues to warn people about E-scooter safety

Kelowna’s top orthopedic surgeon continues to warn people about E-scooter safety – Jun 16, 2021

Global News also contacted Neuron Mobility, the company operating e-scooters in Lethbridge.

According to its website, Neuron has insurance that provides personal accident coverage for riders at no cost.

Read more:

Electric scooters remain illegal on Quebec roads despite growing in popularity

The company also prohibits riding while under the influence of any substance that may impair the operator’s ability to ride safely.

“We are actively looking into this situation. At Neuron, safety is at the heart of everything we do and we continuously advocate for responsible riding practices through ongoing education efforts,” a statement from Neuron head of market, Ankush Karwal, to Global News reads in part.

Story continues below advertisement

“The vast majority of our riders follow the local riding rule and ride respectfully. The city’s shared e-scooter program has been very well received with significant uptake.”

The company did not allow any follow-up questions, including whether the e-scooter driver followed Neuron’s insurance procedures or if Neuron took any action for her immediate roadside sanction fail.

Click to play video: 'The rules and regulations around e-bikes & e-scooters'

5:29
The rules and regulations around e-bikes & e-scooters

The rules and regulations around e-bikes & e-scooters – Jun 27, 2022

https://globalnews.ca/news/9070659/e-scooter-collision-insurance-lethbridge-car/

Finance experts on the money lessons they wish they could tell their younger selves

Finance

By

Richard Meier

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September 9, 2022

0

Finance experts on the money lessons they wish they could tell their younger selves

Money lessons we wish we could tell our younger selves (Alamy/PA)

Experience builds as the years go by – and even the experts say they’ve learned a lot about money matters along the way.

So if you’re a young adult preparing to head off for university and get your first taste of financial freedom, or simply looking to get a better grip on your finances, these are the money lessons experts would give to their younger selves…

1. Budgeting is key

“When I received my first student loan, it was, at the time, the most money I’d ever had sitting in a bank account in my life,” says Alice Haine, personal finance analyst at investment platform Bestinvest. “But rather than plan carefully how to use it, I booked a summer holiday to Spain with my new university friends – a great way to create lasting memories, but not a great way to pay the regular bills.

“A budget is particularly key for students starting their studies in 2022, as many will be managing their money for the first time and during the worst cost-of-living crisis in several decades. The harsh reality of inflation is that it eats into purchasing power, meaning any cash you have simply does not go as far as it might have done in the past.

“The best strategy is to compile a list of regular payments, such as rent, food, household bills, books and going out, and then work out exactly how much income – either from parents, student loans, grants or a part-time job – there is to cover those expenses.”

2. Save a little and often

Elle McAtamney, PR manager at website TopCashback says: “I worked during university, which was a good idea for several reasons, not least for the fact I was able to subsidise my student loan with a few extra pounds.

“It made my living a bit more comfortable – and sure, I treated myself to ‘timeless’ fashion pieces such as Ugg boots, which was a nice-to-have, but not particularly useful for my future self.

“I would advise 18-year-old me to start squirrelling some of those earnings away every payday, learning good money-saving habits, to put me in better stead for my 20s and beyond.”

3. Investing isn’t just for an elite few

Louise Hill, co-founder of kids’ prepaid debit card and financial education app GoHenry, says: “It’s only in my 50s that I’ve started investing, and I wish I had done it much earlier. I’d encourage young people to give it a go and start by investing small amounts in stocks and shares, using one of the many mobile apps that have helped demystify it.

“Before, it always sounded like something old men did in stuffy clubrooms, but now it’s accessible for everyone, so take advantage of that! Remember that the value of your investment can go down as well as up though.”

4. Set savings goals

Graham Binns, head of the branch network at Leeds Building Society, says: “Focusing on why you are saving helps, because it gives you an ambition to reach – whether it’s a holiday, money towards a car, or just having a bit of spare cash for a rainy day.

“It’s natural for initial enthusiasm to wear off over time, so it’s also important to not feel guilty.”

6. Grocery money really is grocery money

Essentials will need to be paid for (Alamy/PA)

“Something I wish I’d been better at was setting aside a realistic amount of money for my food shopping, so I always knew I was covered. This means some budgeting,” says Ban Mahsoub, head of money services at Tesco Bank. “I’d suggest giving yourself a few weeks or months to work out how much you need to spend on your food and other essentials. Then start to put that money aside when you get your student loan or grant.”

Mahsoub also suggests keeping an eye out for student deals, adding: “Signing up is often free and you can get some good discounts on everyday purchases.”

7. It’s never too early to think about a pension

Emma-Lou Montgomery, associate director for personal investing at Fidelity International, says: “If I’d known the potential for money to build over time, I would have started pension saving when I was 18.

“If you are working at university and earn over £10,000 or £192 a week, your employer will pay into a pension for you as part of auto-enrolment, and this is a real opportunity. You’re in a prime position to reap the rewards of all that juicy compounding. That’s when the interest you earn on your money starts to make money for you.

“If you are doing your own thing, pop a few pounds or the cost of a drink into a Sipp (self invested personal pension). Starting small and starting early is a good step in the right direction.”

8. Finally, don’t get carried away

Montgomery adds: “When you open your student account, you are often presented with a shiny new credit card and an overdraft from the bank.”

While these can be a useful buffer, she warns they can make people feel like they have more money than they actually do – so it’s important to take care.

https://finance.yahoo.com/news/finance-experts-money-lessons-wish-070036266.html

How To Leverage Measured Digital Marketing In An Economic Downturn

Digital Marketing

By

Richard Meier

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September 9, 2022

0

How To Leverage Measured Digital Marketing In An Economic Downturn

Asad Kausar is CEO at Dabaran, a premier Chicago-based SEO firm helping businesses grow their online presence and expand their audience.

getty

Between the 9% inflation of consumer prices across the board and the possibility of the next recession on everyone’s mind, many businesses are looking to cut costs wherever they can to survive the next potential economic downturn.

Marketing efforts are often the first thing on the chopping block when budgets get tight, but that might not always be the best strategy. It’s all about cutting ineffective marketing efforts and maintaining (or even increasing) spending on proven strategies. With that being said, is digital marketing “recession-proof”? Here are four reasons why I think digital marketing is a solid investment, even during an economic downturn, and how to leverage it.

Digital marketing can be inexpensive.

Whenever buzz of a recession starts floating around, everyone wants to talk about money—and that makes sense. The first reason digital marketing can pay off is because it’s often easy on the wallet.

While some digital marketing strategies can be quite comprehensive and expensive, there are several, such as SEO (search engine optimization), that can give you more bang for your buck.

Email marketing also brings an incredible 3,600% return on investment (ROI), according to Litmus data (via HubSpot). That means that when done correctly, for every one dollar you spend, you could get $36 back. That’s a worthwhile investment.

You can get started with email marketing by signing up for a platform like MailChimp, HubSpot or Constant Contact. Subscription costs are typically based on how many sends you need per month, so you can scale it to your budget.

Once you have your email marketing platform set up, work on growing your contact list and send emails regularly. One of the best ways to ensure email marketing success is to provide an offer. Think about what would make someone want to open your email. Whether it’s information about your industry or services, a discount on their next purchase, or even something entertaining, there should be something of value that entices users to open your email and follow through with the call to action.

Both of these digital marketing strategies cost little to nothing to get started. You can implement SEO best practices (a topic I discuss on my website) and create content for your website without additional software or purchases, and how much money does it take to send a few emails? Even if you have to pull back on some forms of digital marketing, there are several ways to continue your digital strategy without straining your wallet.

Digital marketing can be flexible.

You never know what’s going to happen in an economic downturn. Customers might change the way they shop, browse, search or make purchases—all of which can impact the effectiveness of your marketing strategies. Luckily, you can adapt your digital marketing strategy and change directions quickly with the market.

Traditional marketing efforts like signage and advertisements are more difficult to change. Once you spend the money, they’re typically going to run for a predetermined amount of time. With digital marketing, you can change gears in an instant.

If you decide to run a pay-per-click (PPC) campaign and all of a sudden buyers shy away from the product or service you’re pushing, you can swap the look and message of the ads immediately. Use analytics to stay on top of trends as they happen in real time, even during times of economic uncertainty.

You should measure your digital marketing.

Remember what I said at the top of the page? Surviving isn’t about cutting costs; it’s about cutting the right costs. You should absolutely cut marketing efforts that don’t work. However, make sure to maintain and even reinforce proven marketing strategies. And how do you know a marketing effort is working?

Digital marketing is highly measurable. With all the analytics and background data you have available from your campaigns, you should analyze which campaigns are working and which aren’t. Then, adjust your spending accordingly to get the most bang for your inflated buck.

Some of the most important key performance indicators (KPIs) to determine campaign success include:

• Cost per conversion.

• Spend rate.

• Audience and targeting metrics.

• Engagement.

If you see a campaign’s KPIs start dipping, you should readjust or completely change the campaign immediately to maintain your marketing’s effectiveness. (See the section above.)

It takes time to build authority.

Some forms of digital marketing, like SEO, take time to grow organically. If you take a break because of economic hardship, you might lose some of the domain authority you’ve accumulated with your previous marketing campaigns.

Times might be tough now, but they likely won’t always be. When things turn around for you, you should make sure your digital marketing efforts are ready and waiting to attract customers the minute they have some extra spending money again.

Conclusion

So, is digital marketing recession-proof? The answer, in my opinion, is yes. If you choose strategies with budget-friendly price tags, higher returns on investment, and high levels of measurability and flexibility, it could be the perfect marketing strategy for your business during an economic turndown. Plus, when the economy improves, you’ll likely have increased your domain authority and will be ready to attract even more customers than ever before.

Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?

https://www.forbes.com/sites/forbescommunicationscouncil/2022/09/07/how-to-leverage-measured-digital-marketing-in-an-economic-downturn/

Liz Truss gathers new-look top team as she outlines plan for fresh era | Politics | News

Business

By

Richard Meier

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September 8, 2022

0

Liz Truss gathers new-look top team as she outlines plan for fresh era | Politics | News

Members of the Cabinet met inside No10 at 8.30am this morning, just 12 hours after they were announced. The newly appointed ministers all beamed as they walk up the pavement of Downing Street to get started in their new briefs.

The new Prime Minister yesterday set out three areas her Government would immediately seek to tackle.

She has promised to focus her attention on getting a grip on the energy crisis, reducing taxes, and dealing with the backlog in the NHS as a matter of urgency.

Gathered around the Cabinet table, Ms Truss told her ministers they would need to deliver for the British people and help them through the economic turmoil ahead.

She was surrounded by a team of loyalists with senior MPs who had backed former leadership contender Rishi Sunak culled.

READ MORE: Rattled Putin makes dig at Truss as he breaks silence on new PM

In a historic moment, none of the MPs holding the four great offices of state are white men.

Ms Truss appointed Kwasi Kwarteng as Chancellor, Suella Braverman as Home Secretary, and James Cleverly to the role of overseeing the Foreign Office.

She also gave senior roles to five of her former leadership rivals, with Penny Mordaunt, Tom Tugendhat, Suella Braverman, Kemi Badenoch and Nadhim Zahawi all in the Cabinet.

Rishi Sunak was offered a job as part of the top team but declined to serve.

A plan on how to fix skyrocketing energy bills is set to be announced as soon as tomorrow as Ms Truss wastes no time in dealing with the nation’s priorities.

The Prime Minister is expected to announce a plan to freeze domestic bills in England, Scotland and Wales at around £2,500.

READ MORE: ‘Not a major departure’ Duncan Smith dismisses Truss revolt fears

She added the new Cabinet “will continue to make sure that we do strain every sinew, put everything that we can in order to get our economy growing again”.

Speaking on the steps of Downing Street yesterday, Ms Truss promised “to tackle the issues holding Britain back”.

Addressing the public, she said: “Firstly, I will get Britain working again. I have a bold plan to grow the economy through tax cuts and reform.

“I will cut taxes to reward hard work and boost business-led growth and investment.

“I will drive reform in my mission to get the United Kingdom working, building and growing.

“We will get spades in the ground to make sure people are not facing unaffordable energy bills and we will also make sure that we are building hospitals, schools, roads and broadband.”

She added: “As strong as the storm may be, I know that the British people are stronger.

“Our country was built by people who get things done. We have huge reserves of talent, of energy, and of determination.

“I’m confident that together we can ride out the storm, we can rebuild our economy and we can become the modern brilliant Britain that I know we can be.”

New Environment Secretary Ranil Jayawardena described the first Cabinet meeting as “very positive” as he spoke to journalists while leaving No10.

https://www.express.co.uk/news/politics/1665796/liz-truss-first-cabinet-meeting-pictures-latest

Pros & Cons of Online Banking

Banking

By

Richard Meier

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September 6, 2022

0

what is an online savings account

Online banks, which offer online checking and savings accounts, have become increasingly popular among many consumers. As their name suggests, these are bank accounts that you access and operate entirely online, often making the banking process easier. The bank has no physical branches and you can’t access your account in person. Because of their reduced overhead, some can offer better interest rates than a traditional account, but they otherwise have the same rules and products as in-person banking. If you have money you need to save or invest, consider working with a financial advisor who can help you create an asset allocation plan.

What Is an Online Savings Account?

An online savings account is a savings account that you access and manage entirely online. There are no physical banks that you can visit. Instead, you conduct all of your transactions via the bank’s website and apps. You cannot conduct business in person, but online banks typically offer access to cash through an ATM in the same way as any other institution. Some traditional banks offer online services or banking options, which is different than banking with an online bank.

Many consumers also use traditional bank accounts as de facto online accounts. If your bank has no branches near you, or if you never visit it, you usually have all the tools you need to manage your account entirely online. A large and growing number of consumers prefer to bank this way, doing all of their business through their bank’s online tools.

The popularity of this form of banking is what gave rise to online-only banks in the first place. As customers increasingly did all their business through websites and apps, some entrepreneurs realized that they could offer banking without the expensive retail footprint at all. They created online banks and online savings accounts in response.

Pros and Cons of Online Banking

Since online banks have fewer costs than brick-and-mortar institutions, they typically offer lower fees and better interest rates, and the difference can be substantial. At the time of writing the average savings account offered an interest rate of 0.13%, according to the FDIC’s monthly report. By contrast, many online savings accounts offer interest rates between 1.5% and 2.1%. If you have $100 on deposit, this is the difference between getting $2 of interest or 13 cents.

The tradeoff for using an online bank is access to services. You cannot seek in-person customer service, which for some customers can be a significant pain point. You may end up paying higher ATM fees if your bank does not have the same network as a retail institution, although this is a risk with all smaller banks, not just online institutions. Finally, you may not have access to the same range of products. For example, many online banks don’t offer lending and mortgage services, money orders or financial management.

Finally, handling cash can become more difficult. While most consumers can deposit checks relatively easily through their cameraphone, depositing cash will require a trip to the ATM and can be a challenging process. If you work in high-cash industries, like service or retail, this may be a very real issue.

How big of a problem all this is depends entirely on your banking needs. Some consumers seek a best-of-both-worlds solution by opening accounts with both a traditional bank and an online bank, moving their money in between the two. This is not necessarily a bad choice, but be careful that you don’t erode all of your gains through potentially high wire transfer fees between institutions as you move your money between checking and savings.

Are Online Banks Legitimate?

There is nothing inherently suspect about online banks or online savings accounts. However, it’s important to do your homework before trusting anyone with your money. Because an online bank has no physical presence, it’s easier for scammers to operate in this sector so it’s important to verify banks through the FDIC before opening an account.

You can check on this through the FDIC’s BankFind service. Do not put funds on deposit with any bank that is not registered on BankFind. Even if they are simply foreign institutions, banks do go out of business. If your bank goes under and it is insured by the FDIC, you probably won’t even notice it. If it is not, you can easily lose everything on the deposit.

The Bottom Line

Online savings accounts are bank accounts that you manage and access entirely online. While some traditional banks offer online services such as an online savings account, most of the time they are offered by online-only banks, which have no physical locations at all. These accounts can offer higher APY, making you more off of the money you’re saving. However, if you handle a lot of cash that needs to be deposited then this might not be the best option for you.

Tips for Saving

Don’t worry if you’re unclear on how much you should be saving or where you need to put your money. You can enlist the help of a financial advisor who can provide you with the necessary information and tools to be successful. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Online savings accounts are, mostly, a feature of online banks. These institutions can offer you better interest rates, but at the cost of some features and products. Traditional banks also have their benefits and actually might offer more stability if you have larger amounts of cash to put away. Find out which one is right for you.

The post What Is an Online Savings Account? appeared first on SmartAsset Blog.

https://news.yahoo.com/pros-cons-online-banking-130020084.html

U.S. House committee reaches deal to get Trump financial records from accounting firm

Accounting

By

Richard Meier

-

September 6, 2022

0

U.S. House committee reaches deal to get Trump financial records from accounting firm

A U.S. House committee seeking financial records from former president Donald Trump has reached an agreement that ends litigation on the matter and requires an accounting firm to turn over some of the material, the panel’s leader announced Thursday.

The long-running case began in April 2019, when the House Committee on Oversight and Reform first subpoenaed a wealth of records from Trump’s then-accounting firm, Mazars USA. The committee cited testimony from Trump’s former attorney, Michael Cohen, that it said raised questions about the president’s representation of his financial affairs when it came to seeking loans and paying taxes.

Under the agreement, Trump has agreed to end his legal challenges to the subpoena and Mazars USA has agreed to produce responsive documents to the committee as expeditiously as possible, said Democratic Rep. Carolyn Maloney, who heads the committee.

“After numerous court victories, I am pleased that my committee has now reached an agreement to obtain key financial documents that former president Trump fought for years to hide from Congress,” Maloney said.

Trump is facing investigations on several fronts, including the storage of top-secret government information discovered at his Mar-a-Lago home and whether the former president’s team criminally obstructed the inquiry. In Georgia, prosecutors are investigating whether he and allies illegally tried to interfere in the 2020 presidential election. Meanwhile, congressional committees are following through on investigations that began when he was president.

WATCH | Classified documents part of DOJ court filing against Trump:

Documents at Trump’s home likely hidden from investigators, DOJ says

The U.S. Justice Department says classified documents were ‘likely concealed and removed’ from investigators searching former president Donald Trump’s Mar-a-Lago estate. The details are part of a new court filing.

Settlement follows federal appeals court ruling

The settlement over Mazars follows a July decision by a federal appeals court in Washington that narrowed what records Congress is entitled to obtain. The court said the committee should be given records pertinent to financial ties between foreign countries and Trump or any of his businesses for 2017-18.

The appeals court also ordered Mazars to turn over documents between November 2016 and 2018 relating to the Trump company that held the lease granted by the federal government for the former Trump International Hotel, located between the White House and the Capitol.

In the decision, the court said Trump’s financial records would “advance the Committee’s consideration of ethics reform legislation across all three of its investigative tracks,” including on presidential ethics and conflicts of interest, presidential financial disclosures and presidential adherence to Constitutional safeguards against foreign interference and undue influence.

A person walks by a building with the word Trump written across it. — The appeals court ruling ordered Mazars to turn over documents relating to the Trump company that held the lease granted by the federal government for the former Trump International Hotel. (Mark Lennihan/The Associated Press)

The House investigation dates to February 2019, when Trump’s former personal attorney, Cohen, testified to the committee that Trump had a history of misrepresenting the value of assets to gain favourable loan terms and tax benefits.

Cohen served time in federal prison after pleading guilty in 2018 to tax crimes, lying to Congress and campaign finance violations, some of which involved his role in orchestrating payments to two women to keep them from talking about alleged affairs with Trump.

But his testimony prompted the committee to seek key financial documents from Mazars, and in April 2019, the committee issued a subpoena to Mazars seeking four targeted categories of documents.

The following month, Trump sued to prevent Mazars from complying with the subpoena. The case has been winding its way through the court system since.

Mazars earlier this year said it had cut ties with Trump and warned that financial statements the firm had prepared for Trump “should no longer be relied upon” by anyone doing business with him.

Under the settlement, Trump’s former accounting firm, Mazars, will turn over some financial documents. (Charles Platiau/Reuters)

Another House committee, the House Ways and Means Committee, has been seeking Trump’s tax returns and waging its own litigation. In that case, a three-judge appellate court panel agreed last month with a lower court’s decision in favour of Congress and that the Treasury Department should provide the tax returns to the committee.

The Justice Department, under the Trump administration, had defended a decision by then-U.S. treasury secretary Steven Mnuchin to withhold the tax returns from Congress. Mnuchin argued that he could withhold the documents because he concluded they were being sought by Democrats for partisan reasons. A lawsuit ensued.

After Joe Biden took office, the committee renewed the request, seeking Trump’s tax returns and additional information from 2015-2020. The White House took the position that the request was a valid one and that the Treasury Department had no choice but to comply. Trump then attempted to halt the handover in court.

https://www.cbc.ca/news/world/trump-financial-records-legal-challenges-ended-1.6569830