The global economic rebound is starting to show signs of vulnerability as trade tensions increase, says the International Monetary Fund's Global Economic Outlook. The IMF did not change its global forecast, but it cited the declining influence of US tax cuts and weak growth in Japan and Europe as threats to future growth.
Performance reviews can be nerve-wracking for leaders, especially when constructive criticism is required, Gerry Valentine writes. It's best to offer examples of specific, recent situations when making corrective feedback, he argues.
Out-of-pocket health care costs in retirement can total about $4,300 a year for the average retiree, according to the Center for Retirement Research at Boston College. These expenses may include Medicare and Medigap premiums, and health care costs are expected to rise.
Bank of America saw a 6.6% increase in consumer lending in the second quarter compared with the year-earlier period. Consumer lending rose about 2.5% at Citigroup and JPMorgan Chase, while Wells Fargo and PNC Financial saw declines.
Twenty-five Senate Democrats have sent a letter to Consumer Financial Protection Bureau acting Director Mick Mulvaney asking him to reinstate the Consumer Advisory Board, saying the board is a requirement of the Dodd-Frank Act. The board was dismantled by Mulvaney last month.
Bank of America customers now make more deposits using mobile devices than in branches, the bank says. The number of mobile users has also increased, while the number of branches has decreased.
Citi is debuting a service that will give corporate customers real-time information about their transactions. The service, Citi Payment Insights, is launching in 50 markets.
Federal Reserve Chairman Jerome Powell will likely field questions about trade issues and financial regulations when he appears before the Senate banking committee and the House Financial Services Committee this week. Other issues include unemployment numbers and inflation.
The harder a problem is to solve, the more it helps to take an experimental approach to solving it, writes Adam Kahane. Leaders need to allow teams to run tests without expecting to find solutions on the first try, he writes.
More consumers are using mobile banking since the financial crisis, and criminals are still targeting bank accounts. Methods include tricking consumers into revealing personal information and installing keyloggers on mobile phones.
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