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☆ Chinese coach fined, banned for eight months for slapping referee
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 2 (Reuters) - A Chinese soccer coach who slapped a referee on the side of his head during a second tier match last month has been handed an eight-month match ban and fined 150,000 yuan ($20,905), the Chinese football association (CFA) said on Wednesday. For this he is "prohibited from entering the sports stadium for matches for a period of eight months" and fined 150,000 RMB, it added. "The Chinese Football Association will strictly and resolutely handle all kinds of violations of rules and discipline in accordance with the provisions of the Disciplinary Code of the Chinese Football Association, in order to purify the atmosphere of the game. "We hope that all parties involved will work together to maintain order on the field and preserve the hard-earned development environment of football." ($1 = 7.1754 Chinese yuan renminbi)Reporting by Martin Quin Pollard Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Duan Xin, Martin Quin Pollard, Christian Radnedge Organizations: Liaoning, Chinese Football Association, CFA, Thomson Locations: BEIJING, Chinese, Nanjing

It has yet to disburse a $131.5 million loan to Niger that was approved on July 5, it added. The interior minister, transport minister, and a deputy had already been detained, it added. The arrests confirm the "repressive and dictatorial" nature of the coup leaders, the party said in a statement, calling on citizens to come together to protect democracy. The arrests were announced a day after Chadian President Mahamat Idriss Deby arrived in Niger to try to mediate between the coup leaders and the ousted government. Yevgeny Prigozhin, the head of Russia's Wagner mercenary group, last week welcomed the coup in Niger, and said his forces were available to restore order.

Persons: Niger's, Mohamed Bazoum, Mahamane Sani Mahamadou, Issoufou Mahamadou, Mahamat Idriss Deby, Deby, Bazoum, Ursula von der Leyen, Emmanuel Macron, Abdourahamane Tiani, Yevgeny Prigozhin, Russia's Wagner, Antonio Tajani, Boureima Balima, Abdel, Kader Mazou, Anait Miridzhanian, Bate Felix, Nellie Peyton, Sofia Christensen, Alexander Winning, Bernadette Baum, Andrew Heavens, Nick Macfie Organizations: International Monetary Fund, IMF, CFA, West, African Union, European Union, Islamic, Junta, Nigerien Party for Democracy and, Chadian, ECOWAS, EU, REUTERS, Twitter, French Foreign Ministry, Paris, White, Thomson Locations: NIAMEY, Niger, West, Central Africa, United States, France, Islamic State, al Qaeda, EU, U.S, Nigerien, Niamey, Mali, Burkina Faso, Russia, Niger's

DAKAR, July 31 (Reuters) - Niger's regional and Western partners have announced a series of sanctions against the country following last week's coup. Another 978.47 billion francs was supposed to come from project grants and loans from external partners. These sanctions have been imposed on Niger since the coup:WEST AFRICA REGIONAL BLOCThe Economic Community of West African States and the West African Monetary and Economic Union have imposed some of the most stringent sanctions on Niger so far since the coup. Niger had planned to raise 490 billion CFA francs ($834 million) from the regional debt market in 2023. FRANCEFrance, another major partner of its former colony, suspended development aid and budget support with immediate effect, demanding a prompt return to constitutional order.

Persons: Daphne Psaledakis, Gabriela Baczynska, Juliette Jabkhiro, Nick Macfie Organizations: WEST AFRICA REGIONAL BLOC, Economic, West, Monetary and Economic Union, European Union, UNITED STATES, ., Thomson Locations: DAKAR, Niger, West African States, FRANCE France, France, Mali, Burkina Faso, United States, Washington, Brussels, Paris

☆ Limited support for central bank digital currencies in global investment industry survey
▼ + stars: | 2023-07-26 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

LONDON, July 26 (Reuters) - The most comprehensive survey of the global investment industry on central bank digital currencies to date has shown both limited support and a lack of understanding of how a digital dollar, euro, yen or pound would work. The survey carried out by the CFA Institute, a worldwide association for bankers, investors and finance chiefs, found that only 42% of the more than 4,150 respondents who took part believed that central bank digital currencies, or CBDCs, should be launched. Only 37% of respondents from developed markets said they favoured a CBDC versus 61% from emerging markets. Data privacy was also a major concern for 64% of respondents in developed markets and 57% in developing economies. Less than a quarter of respondents under 30 opposed them, the survey found, compared with 37% among those over 55.

Persons: Olivier Fines, Andrew Bailey, Marc Jones, Leslie Adler Organizations: CFA Institute, CFA, European Union, People's Bank of, Bank of England, CBDCs, Thomson Locations: Bahamas, Nigeria, United States, Canada, United Kingdom, China, People's Bank of China, India, Central

☆ Analysis: Caught between riots and debt crises, African countries cut fuel subsidies
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +6 min

Senegal, like Nigeria and Angola, is removing costly fossil fuel subsidies – a move once considered politically unthinkable but which has become a necessity due to crushing debt, a spike in borrowing costs and high fuel prices. SHEER FISCAL NECESSITYNearly every country on earth has some fossil fuel subsidies, according to the Organisation for Economic Co-operation and Development (OECD). Now, high costs have effectively locked many out of international bond markets. According to the World Bank, almost half of the countries in sub-Saharan Africa are in or at high risk of debt distress. The World Bank estimates that subsidy removal, and scrapping foreign exchange controls, would save Nigeria some 21 trillion naira ($27.49 billion) from 2023 to 2025.

Persons: Abdoulaye Diallo, Diallo, Stanley Achonu, Goolam Ballim, Angola's, David Amaglobeli, Amaglobeli, Gregoire Garsous, Achonu, Karin Strohecker, Ngouda Dione, Hugh Lawson Organizations: ONE, LONDON, CFA, Global, International Energy Agency, Reuters Graphics, Organisation for Economic Co, Development, Standard Bank, World Bank, OECD, Bank, Christian, Thomson Locations: Africa, Nigeria, Senegal's, Dakar, Senegal, Angola, Ukraine, Russia, Johannesburg, China, Saharan Africa, Zambia, London, Brazzaville

☆ Gen Z is seeing the appeal of finance jobs, as cost-of-living concerns rise, a new survey finds
▼ + stars: | 2023-07-03 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

A new study reveals that Gen Z thinks finance is the best industry for future career prospects. 1 industry for career prospects — up from No. Part of the reason may be the money: Graduates' top career fear is low pay. More than half of the respondents to the CFA survey said they have reassessed their career options in light of cost-of-living increases. This could be one reason interest in finance surged, as respondents voted it the most stable industry.

Persons: Z, —, Gen Zers, Zers Organizations: Morning, CFA Institute, CFA Locations: millenials

☆ Your 401(k) plan may be worsening climate change, expert says
▼ + stars: | 2023-06-28 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Increasingly, employees are automatically enrolled in their 401(k) plan without weighing in on their investments. watch nowMeanwhile, some employers may be worried that their workers won't get high enough profits from ESG funds, Dyer said. A Trump administration-era rule discouraged retirement plan sponsors from offering ESG funds, experts say. How to examine your ESG 401(k) optionsIf you're in the small pool of employees who do have access to an ESG fund in your retirement plan, your research may end there. Employers have a fiduciary duty to administer retirement plans in the best interest of plan participants.

Persons: Dyer, Morgan Stanley, Trump, Joe Biden, Biden, Bradford Campbell, Campbell, Behar, Andrew Behar, Sow Organizations: CFA Institute, CFA, Department of Labor, House Republicans, Employers Locations: ESG, Texas, GreenFin

☆ Finance is the No. 1 industry Gen Z wants to work in, says new research—more than tech or health care
▼ + stars: | 2023-06-28 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

Recent and soon-to-be college graduates have different visions of the "perfect job": Some want to work in New York, while others might aspire to be their own bosses. But many Gen Zers are dreaming of a career in finance. Close to 10,000 current college students and recent graduates in 13 countries including the U.S., Canada and Mexico were polled for the report. What has set finance apart from its competitors, and made it the career path du jour among Gen Z, is how finance companies have responded to these challenges. As other industries pause hiring, college career advisors and industry professionals say financial firms are upping their recruiting efforts on college campuses to attract Gen Z.

Persons: overhiring, Gen Organizations: Finance, CFA Institute Locations: New York, U.S, Canada, Mexico

☆ An epic fight over how real-estate agents get paid could transform the housing market forever
▼ + stars: | 2023-06-26 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Trying to find a buyer and sifting through offers sounds like a nightmare, so you hire a real-estate agent. The seller might no longer pay out both agents' commissions after the sale closes. Despite the potentially earthshaking consequences, most local real-estate agents — who, to be fair, have more pressing short-term concerns — have largely ignored the cases. "They not only have to pay a buyer's agent commission, but they can't negotiate that commission," Brobeck said of sellers. "It just doesn't make any sense for the seller to have to pay the buyer's agent," Brobeck told me.

Persons: —, Sitzer, that's, Max, Keller Williams, Sellers, Brokerages, Stephen Brobeck, Brobeck, Moehrl, Wager, Katie Johnson, you'll, Johnson, Buyers, Nicholas Economides, homebuyers, Trump, Everyone's, Rob Hahn, Steve Marcus, David Eisenstadt, Eisenstadt, Hahn, James Rodriguez Organizations: National Association of Realtors, NAR, Realtors, MLS, Consumer Federation of America, New York University, CFA, Realtor.com, REUTERS, Berkeley Research Group, Justice Department's Antitrust Locations: America, Missouri, Illinois, MLSs, Houston , Texas, Australia, Netherlands, United Kingdom

☆ As Nigeria scraps fuel subsidy, a vibrant black market collapses
▼ + stars: | 2023-06-26 | by ( Desire Danga Essigue | ) www.reuters.com time to read: +4 min

Since Nigeria scrapped a state fuel subsidy on May 31, black market fuel vendors and commercial drivers in Cameroon, Benin and Togo who were heavily reliant on petrol smuggled from Nigeria have seen their businesses collapse. With supplies dwindling, queues have been forming at official petrol stations, where fuel is now competitively priced. "Supply has become scarce and customers think we're ripping them off with this high price, yet it's from Nigeria that prices have soared," said Perevet Dieudonne, a black market seller. The trade in black market fuel is so central to the local economy that authorities either turn a blind eye or are complicit. At Hilacondji, a border crossing between Togo and Benin, some black market fuel stalls were shut, while at others vendors waited among rows of empty plastic jerricans for potential deliveries.

Persons: Danga, turvy, Perevet Dieudonne, Ousmanou Mal Djoulde, Ayi Hilla, Alice Lawson, Pulcherie, Amindeh Blaise Atabong, Elisha Bala, MacDonald Dzirutwe, Estelle Shirbon, Bate Felix, Elaine Hardcastle Organizations: REUTERS, CFA, Reuters, Dangote Petroleum, United Nations, Thomson Locations: Garoua, Cameroon, GAROUA, West, Nigeria, Benin, Togo, Nigerian, West Africa, Dangote, Hilacondji, Africa, Cotonou, Pulcherie Adjoha

So how can the estimated 4% to 5% of the population in the US who identify as being polyamorous approach their finances and money management in their relationships? There are many different poly relationship arrangementsAs Waymire explains, there are infinite poly relationship configurations. These are just a few examples of poly relationship configurations. Challenges in the transfer of generational wealthWaymire has seen clients disowned by parents for their polyamorous relationship structures, which can affect transfer of generational wealth. Have money conversations oftenSchedule money check-ins as often as needed.

Persons: —, Jackson Kendall, Michelle Waymire, Kendall, Waymire, aren't, Jackson, Polycules, Chaneé Jackson, Chaneé Jackson Kendall, polycule, it's, we've Organizations: Service, Young, Jackson Locations: Atlanta , Georgia, Jackson

☆ Crypto is Gen Z’s most common investment. That may be risky, experts said
▼ + stars: | 2023-06-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

But while young people can afford to take more investment risk relative to older generations, using crypto as the linchpin of an investment portfolio is nonetheless a risky bet due to its volatility, experts said. Crypto zeal a concern if investors don't diversifyFifty-five percent of adult Gen Z investors currently invest in crypto, according to the joint Finra-CFA Institute report. Gen Z is a cohort born in the late 1990s and into the 21st century, meaning its oldest members are in their mid-20s. The joint Finra-CFA Institute report doesn't specify the average share of Gen Z investors' portfolios allocated to cryptocurrency. Gen Z investors in the U.S. view themselves as risk-takers.

Persons: Gen, Coinbase, Binance, Crypto, —, Gerri Walsh, Walsh, Ted Jenkin, cryptocurrency, They've, Jenkin, bitcoin, It's, There's, they've Organizations: CFA Institute, Financial Industry, Investor Education, Securities and Exchange Commission, SEC, Finance, Finra Investor Education Foundation, Meta, cryptocurrency Locations: Atlanta, cryptocurrency, U.S

☆ Over 40% of Gen Z are investing because they're driven by FOMO, survey finds
▼ + stars: | 2023-06-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Over 40% of Gen Z are investing because they're driven by FOMO, a new survey shows. In trying to meet financial goals, over 80% of American Gen Z started investing before the age of 21. That climbs to 60% of Gen Z in China who started investing because of FOMO. Over 80% of Gen Zers in the US and UK began investing before the age of 21 as well as 79% of Canadians and 63% of Chinese Gen Z investors. Only 7% of Gen Z in China started investing before they were 18 years old.

Persons: Z, —, Zers, Gen Xers, Gen, Gen Z, Gen Zers Organizations: Service, CFA Institute, Financial Industry, Authority Investor Education Foundation, Deloitte Locations: Canada, China

☆ Slump in global cashew demand pushes Ivory Coast industry to verge of collapse
▼ + stars: | 2023-06-05 | by ( Ange Aboa | ) www.reuters.com time to read: +3 min

Global demand for cashew nuts, eaten as snacks or used for cooking and desserts, has tumbled since the end of the coronavirus pandemic, driven by multiple factors, including consumer inflation and increased production. "No one wants to buy cashew, even if I ask for 150 CFA francs per kilogram ($0.24) instead of the farmgate price of 315 CFA francs. Dembele lost 20 million CFA francs ($33,000) during the 2022 season after buying nuts he could not resell to wholesale processors. Output rose from 400,000 tonnes in 2011 to 1 million tonnes in 2022, and is expected at the same level in 2023. In Bouake, the heart of the country's cashew processing industry, work has come to a near standstill as employers struggle to pay salaries.

Persons: Ange Aboa, Dembele, Ibrahim Coulibaly, Ivory Coast, Ganesh, Rajaraman, It's, Alessandra Prentice, Bate Felix, Ed Osmond Organizations: REUTERS, Ivory, Farmers, Global, CFA, Factories, Thomson Locations: Katiola, Ivory Coast, Korhogo, Bouake, Dakar

☆ Chinese quants redouble AI bets amid ChatGPT frenzy
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File PhotoSHANGHAI/SINGAPORE, June 5 (Reuters) - Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot. His hedge fund already uses ChatGPT to better understand a company's fundamentals and avoid value traps, project earnings power, and identify investment opportunities and risks. A ChatGPT-like tool boosts quants' ability to process text-related data, said Feng Ji, chairman of Baiont Capital. Feng's hedge fund, backed by former Google China chief and AI veteran Kai-Fu Lee, has invested heavily in hardware to enhance computing power required for model-training. Regulators are looking for ways to tackle the impact of generative AI technology.

Persons: Thomas White, Steve Chen, Feng Ji, ChatGPT, Feng, Kai, Fu Lee, Feng's, Larry Cao, Cao, it's, Samuel Shen, Tom Westbrook, Himani Sarkar Organizations: Microsoft, Baiont, Google China, Flyer, Zhishan Investment, Wall, Regulators, HK, Baidu, CFA Institute, Thomson Locations: SHANGHAI, SINGAPORE, Shanghai, Beijing, Feng's Nanjing, China

CNN —South Korean soccer star Son Jun-ho has been arrested in China for allegedly accepting bribes as Beijing clamps down on alleged corruption in the upper ranks of Chinese football. A South Korean Foreign Ministry spokesperson said Tuesday the ministry was aware of Son’s situation and that local Korean diplomatic missions were providing consular assistance. Wang said China would provide South Korean officials with the “necessary facilitation” to perform their consular duties. The Korea Football Association (KFA) said it had written to the Chinese Football Association and the Asian Football Confederation regarding the player on Tuesday but had not yet heard back. Vice President Kim Jeong-bae was checking on Son’s condition with the South Korean Foreign and Sports Ministries, a KFA official told CNN.

☆ A CFA says you could cost yourself six figures by investing in the wrong type of retirement fund — and explains how to maximize your returns
▼ + stars: | 2023-05-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

While most investors focus on finding the right asset allocation for their retirement fund, Baker believes that asset location, or the type of fund you're using, is just as important. Fund fees can eat into your retirement savingsAnother key detail many investors miss is the fees associated with certain retirement funds. "Unless you want to read a 60-page prospectus, it's very difficult to find out what all of these mutual funds cost," Baker said. While you're still too young to adjust how you're allocating to your retirement fund, you may need to consider where you're allocating. If you needed to withdraw your income from your retirement fund last year, you took a loss on those withdrawals, Baker noted.

☆ Senegalese entrepreneur creates first locally made surfboards
▼ + stars: | 2023-05-01 | by ( Ngouda Dione | ) www.reuters.com time to read: +2 min

The surf scene is dominated by locals, many of whom surf on old boards donated or passed down from older surfers. But Diouf, who is also a surfing instructor, aims to change that by increasing the availability of locally made boards. Although he also repairs boards, making them is now his focus. "Board making really needs to pick up," said surfer Aita Diop, who competes with a board made by Diouf. "Tomorrow, I hope we will see Sunugal surfboards all over the world."

☆ Chick-fil-A fans are so extreme that the chain can't even take a side salad off its menu without fans freaking out
▼ + stars: | 2023-04-10 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Chick-fil-A is keeping its side salad on the menu "at participating locations," the chain said. Fans said the salad was a key reason they kept visiting the fried chicken restaurant. The fast-food chain is reversing course and keeping the salad on its menu, the restaurant chain said on Friday. In March, Chick-fil-A said that it planned to stop serving the side salad in an effort to streamline its menu. One Chick-fil-A restaurant in Georgia posted about the salad's ouster on Facebook, which attracted commenters who were unhappy with the move.

☆ Earning numbers coming down will make markets more expensive, says Truist's Keith Lerner
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarning numbers coming down will make markets more expensive, says Truist's Keith LernerKeith Lerner, CFA at Truist, joins 'Closing Bell' to an S&P earnings rebound, the employment report, and the Fed pivoting on its rate plan.

☆ Chick-fil-A can't even try to get rid of a side salad without fans freaking out
▼ + stars: | 2023-04-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Chick-fil-A is keeping its side salad on the menu "at participating locations," the chain said. Fans said the salad was a key reason they kept visiting the fried chicken restaurant. The fast-food chain is reversing course and keeping the salad on its menu, the restaurant chain said on Friday. But fans made their appreciation for the salad clear on social media after Chick-fil-A announced that it would be discontinued. One Chick-fil-A restaurant in Georgia posted about the salad's ouster on Facebook, which attracted commenters who were unhappy with the move.

Nestle (NESN.S) and Hershey (HSY.N) said they paid the LID premium. But when the COVID pandemic cratered demand, global cocoa prices plunged before they built up a cushion. Ivory Coast and Ghana say companies should pay both premiums. Industry data from the International Cocoa Organisation (ICCO) shows cocoa output in Ivory Coast rose to record levels in the 2020/21 season. Of the roughly 2 million tonnes of cocoa Ivory Coast produces each year, between 20-30% is grown illegally in protected forests by an estimated 1.3 million people, many of them children.

No-penalty CD vs. savings account: At a glanceIf you're deciding between a no-penalty CD and a savings account, there are two distinctions you'll want to pay close attention to: the interest rate and when you can deposit or withdraw money. Savings accounts generally offer more flexibility for deposits and withdrawals than a no-penalty CD. If you decide to open a no-penalty CD, you'll also want to pay attention to the CD maturity date. Savings accounts allow more accessibility to your money than a no-penalty CD since you can deposit money into a savings account at any time. You'll likely prefer a savings account over a no-penalty CD if you want more accessibility to your money.

☆ How to Pick a Financial Advisor
▼ + stars: | 2023-03-17 | by ( ) www.wsj.com time to read: +12 min

Read on to get started:Types of financial advisorsMany financial professionals, including financial planners, securities brokers, investment managers, and insurance brokers call themselves financial advisors so it’s important to know exactly what services an advisor provides before hiring one. Financial advisor designationsThere are myriad designations for financial advisors but only a handful that indicate the expertise most consumers need. CPAs, or Certified Public Accountants, can be certified with a Personal Financial Specialist credential, which combines their tax expertise with personal financial planning knowledge. How to find a financial advisorFinding a financial advisor is not so different from finding any other specialized service you’re in the market for. The right financial advisor can help navigate your financial life, from budgeting everyday spending to fulfilling long-term financial goals over a lifetime including the purchase of a home and a comfortable retirement.

However, if you open an add-on CD, you'll be able to make deposits at any time. The main perk of an add-on CD is that it's the only type of CD that lets you add money while the account is open. Add-on CD vs. regular CDYou can use the chart below to understand the similarities and differences between add-on CDs and regular bank CDs. Add-on CDs allow you to add money at any time. Add-On CDs: Frequently asked questionsCan you add money to a CD?

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