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Strategy News
Global Fintech Series
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Fiserv Announces the Appointment of Stephanie Cohen to Board of Directors
- Fiserv, Inc. appoints Stephanie Cohen to its Board of Directors.
- Cohen is the Chief Strategy Officer at Cloudflare.
- She brings expertise in strategy, innovation, and technology.
- Her appointment enhances Fiserv's global leadership and commitment to growth.
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HRKatha
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Why Indian woman in London refused to return to office
- A 25-year-old Indian woman living in London has refused to return to the office five days a week, citing high commuting costs and stagnant salaries.
- Spending a significant portion of her salary on commuting made little sense, especially when most office work still involves virtual meetings.
- Financial stability is a concern for the woman, as rising costs and low pay have made it difficult for Gen Z employees to save money and own homes.
- Her post on LinkedIn has gone viral, resonating with many young professionals struggling with the financial realities of city life and workplace expectations.
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Rockpapershotgun
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Total War: Warhammer 3's next updates will tackle "anti-player bias" and self-destructive AI
- The Total War: Warhammer III team is addressing 'anti-player bias' and self-destructive behavior of AI in upcoming updates.
- The 6.1 patch won't include changes to faction aggression and potential, after unintended consequences were observed in the beta test.
- The next beta will focus on toning down 'anti-player bias', aiming to improve the campaign experience.
- Patch 6.1 is expected to bring reworks for the Kislev faction, Kairos Fateweaver, along with new units for Cathay and the Ogre Kingdoms.
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Forbes
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Money Market Interest Rates Today: March 17, 2025 – Earn Up To 4.89%
- The highest money market rate as of today is 4.89% compared to the national average rate of 0.54%.
- Money market accounts (MMAs) are interest-bearing deposit accounts that can be opened at a bank or credit union.
- MMAs are insured up to $250,000 per depositor by the FDIC at banks or the NCUA at credit unions.
- MMAs offer higher interest rates than typical savings accounts, but often require higher minimum deposits and balances.
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Forbes
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Latest HELOC & Home Equity Loan Rates: March 17, 2025
- Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.
- A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments. A home equity line of credit is a variable-rate second mortgage that draws on your home’s value as a revolving line of credit.
- Both options use your property as collateral for your payments, which means your lender can seize your property if you can’t repay what you borrow.
- Home equity lines of credit, or HELOCs, are loans that allow you to borrow against your home's equity - the current market value of your home minus your remaining mortgage balance.
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Forbes
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Mortgage Refinance Rates Today: March 17, 2025 – No Movement On Rates
- Mortgage refinance rates remained unchanged at 6.83%.
- Rates averaged 5.71% for a 15-year financed mortgage and 6.56% for a 20-year financed mortgage.
- The average rate for a 30-year fixed-rate mortgage refinance is 6.83%, up 0.11 point from last week.
- Refinancing your mortgage can be worth it for multiple reasons, including lower interest rates, monthly payments, and more repayment flexibility.
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Forbes
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CD Rates Today: March 17, 2025 – Forbes Advisor
- Current top CD rates can reach up to 5.06%, varying by term length.
- CDs offer fixed interest rates and require a maturity period, outperforming high-yield savings accounts in terms of yields.
- Different CD terms come with varying early withdrawal penalties, often resulting in losing a year's worth of interest if cashed out prematurely.
- Various CD terms, like three-month, six-month, 12-month, 24-month, and five-year, offer different interest rates up to 4.94% to 5.02%.
- Jumbo CDs, requiring significant deposits like $100,000 or more, also provide competitive rates.
- CDs are a straightforward savings tool with fixed terms and compounding interest, but they typically restrict additional deposits once the term starts.
- While CDs offer stable interest rates, investing in stocks or bonds may yield higher returns but with increased volatility.
- CDs provide a secure savings option with FDIC or NCUA insurance coverage up to $250,000 in case of bank failure.
- When searching for the best CD rates, it's advised to explore offerings from various financial institutions, including banks, credit unions, and digital firms.
- Considerations like early withdrawal penalties, minimum deposit requirements, and types of CDs should be reviewed before investing in a certificate of deposit.
- The average rates for CDs are determined by focusing on specific types while excluding others like promotional offers, relationship-based rates, and various special CD types.
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Forbes
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High-Yield Savings Account Rates Today: March 17, 2025 – Rates Are Steady
- Rates on savings accounts are stable compared to one week ago at an average APY of 0.22% for traditional savings accounts.
- High-yield savings accounts offer considerably higher interest rates, averaging at 0.23% APY for accounts requiring a minimum deposit of $10,000.
- For high-yield savings accounts with a minimum opening deposit of $25,000, the highest available interest rate is 4.4%.
- Consider factors such as minimum deposit requirements, fees associated with the account, and the reputation of the financial institution before choosing a savings account.
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Forbes
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Mortgage Rates Today: March 17, 2025 – 30-Year Mortgage Rates Increase, 15-Year Rates Steady
- The average interest rate on a 30-year fixed mortgage increased to 6.72% from 6.6% last week.
- The average rate on a 15-year fixed mortgage remained steady at 5.73%.
- Borrowers should compare their existing mortgage rate with current market rates before refinancing.
- The APR on a 30-year fixed-rate mortgage is 6.75% and for a 15-year fixed-rate mortgage is 5.78%.
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HRKatha
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Former Meta employee fired for sharing public information with his wife
- A former Meta employee was terminated for sharing an internal company update with his wife, despite the information being publicly available.
- The employee claims that he was not responsible for the original leak and questions why forwarding the same content resulted in severe consequences.
- The employee suggests that his dismissal may have been financially motivated, as it occurred just before he was supposed to receive a performance-based bonus.
- Several other employees at Meta have allegedly been fired for similar reasons, including copying internal posts into personal notes apps.
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HRKatha
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Employee denied Holi leave as company enforces strict festival rules
- An employee's request for Holi leave was denied by their company.
- The company imposed strict rules discouraging any form of Holi celebration.
- Employees who took unapproved leave faced financial penalties.
- This incident raises debates about workplace culture and the balance between business priorities and cultural inclusivity.
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HRKatha
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‘Can’t work from home on a Friday and following Monday’: UBS tells staff
- UBS has instructed its employees to work from the office on either a Friday or a Monday, prohibiting working from home on consecutive days.
- The requirement applies to all 115,000 UBS employees and is intended to maintain productivity, innovation, and collaboration.
- Earlier this year, JP Morgan mandated a full-time return to the office for its employees, while UBS is opting for a more flexible approach.
- The Swiss investment bank's decision aligns with the trend of balancing remote work and office presence in the financial industry.
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HRKatha
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Employees are overwhelmed by the deluge of data & info
- Professionals often struggle with overwhelming amounts of data, emails, calls, and presentations on a typical workday.
- Difficulty in finding relevant and updated information quickly hinders fast decision-making and progress.
- Teams lack a centralized system for transforming scattered information into actionable insights.
- AI could help teams streamline data retrieval, but many executives are concerned about underutilizing AI capabilities.
- Communication gaps and inefficient information sharing lead to wasted time and overlapping work in organizations.
- Majority of knowledge workers feel disconnected from organizational goals due to lack of clarity and relevant information.
- Teams are urged to leverage AI for better information management and decision-making processes.
- A centralized platform for tracking team activities and sharing insights can lead to more impactful work and innovation.
- Connecting and organizing information through AI can provide valuable insights and enhance workforce engagement.
- Efforts towards creating a collaborative and informed work environment can lead to achieving organizational goals effectively.
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HRKatha
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7.6k
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Citigroup to lay off 30% IT contractors
- Citigroup plans to lay off 30% of its IT contractors and hire more staff for its internal tech team.
- The bank aims to reduce its reliance on third-party workers from 50% to 20%.
- Citigroup seeks to strengthen risk management and data governance through expanding its internal technology team.
- The decision may be influenced by regulatory costs, penalties, and fraud incidents involving contract workers.
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HRKatha
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Catfishing in hiring: Who is to blame?
- Catfishing in hiring has become a common occurrence, with both job seekers and employers engaging in misrepresentation.
- Generation Z candidates often feel compelled to exaggerate qualifications due to economic pressures and unrealistic job requirements.
- Employers also contribute to the issue by crafting unrealistic job descriptions and misrepresenting positions.
- Organizations should adopt forward-looking recruitment strategies to anticipate how roles may evolve over time.
- Candidates resort to 'resume inflation' to stand out in a competitive job market driven by social media narratives.
- The recruitment process has become depersonalized due to technological advancements, leading to a focus on buzzwords and automated screening.
- Both parties face consequences of misrepresentation, including productivity losses, cultural dissonance, and eroded trust.
- The solution lies in fostering transparency and authenticity in recruitment practices on both sides.
- Employers should prioritize potential and adaptability over rigid credentials, while candidates should present genuine capabilities.
- Humanizing the recruitment process through conversational interviews and mentorship initiatives can lead to better understanding and talent identification.
- The future of recruitment calls for a shared commitment to authenticity over perfection, valuing potential above performative credentials.
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