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Tag: Financial

Nomura had a ‘stellar financial year’ before it warned of potential $2 billion losses, analyst says

Finance
In this articleVIACPDISCA9888-HK700-HK8604.T-JPCSG.N-CHThe warning by Japanese investment bank Nomura that it could incur billions of dollars in losses at a U.S. subsidiary was "pretty unfortunate," an analyst said on Tuesday.Nomura on Monday flagged a potential $ 2 billion loss resulting from transactions with a client stateside. The bank's shares in Japan plunged following that announcement, declining more than 16% on Monday. Those losses extended into Tuesday, with shares declining 0.66% on the day."It's pretty unfortunate for Nomura," Pramod Shenoi, head of Asia-Pacific financials research at research firm CreditSights, told CNBC's "Street Signs Asia."Shenoi said "$ 2 billion dollars ... is a lot of money and what that does is pretty much wipe out any kind of earnings for the second ...
Financial services space set for disruption over next 10 yrs: K V Kamath

Financial services space set for disruption over next 10 yrs: K V Kamath

Finance
Not just banking but the entire financial services space is set for disruption over the next 10 years, which will lead to reduction in transaction costs, veteran banker K V Kamath said on Friday. He said technology is transforming the way banking is done and bankers need to internalise this. Citing the first wave of change brought about in the banking space 20 years ago, Kamath said it changed the sector in a positive way. "Unless you internalise it's going to be a digital world...we will see a very quick evolution of this space in the next 10 years. It's not just bank but entire financial services space is set for disruption, not necessarily a negative way, it can be also in a positive way," the former president of New Development Bank said. Speaking at the Times Network India Economic Co...

Op-ed: There’s an increased demand for financial advice. Are advisors up to the challenge?

Finance
Jamie Grill | The Image Bank | Getty ImagesThe financial uncertainty created by the global pandemic has made an impact on Americans of all generations and income levels.Even as the economy starts to show signs of recovery, too many Americans are still unemployed, and the uncertainty over the shape of economic recovery lingers. For some, that is translating to concerns around whether a secure retirement will be possible. For others, it is causing anxiety about the attainability of basic financial goals, such as buying a new home or sending a child to college.And for many younger Americans, it is raising questions about the impact of the pandemic on their lifetime earnings potential and what that means for their longer-term financial security.More from FA Playbook:Here's a look at other stor...

Op-ed: The movie ‘I Care A Lot’ can teach us how to prevent elder financial abuse

Finance
Rosamund Pike accepts the Best Actress in a Motion Picture, Musical/Comedy, award for "I Care a Lot" via video from Ben Stiller at the 78th Annual Golden Globe Awards on Feb. 28, 2021 in New York.Peter Kramer/NBC | NBCUniversal | Getty ImagesThe Netflix movie "I Care A Lot" provides insight on how to protect the elderly from being targeted by financial scammers.The movie stars actress Rosamund Pike, who plays devious and conniving businesswoman Marla Grayson. She makes a living by convincing the legal system to grant her guardianship over seniors, and she pretends they cannot take care of themselves.With this new legal power over her clients' finances, Grayson drains their bank accounts and pockets any valuables for herself. Up against her quick-witted legal jargon, no one can come cl...

Op-ed: Families should plan to negotiate with colleges for more financial aid due to pandemic

Finance
recep-bg | E+ | Getty ImagesSpring typically represents a new beginning, a fresh start and a bright outlook for the future. This also indicates that the time is approaching for hundreds of thousands of high school seniors to decide on what college they will be attending.As a wealth advisor and parent of one of those upcoming high school graduates, this is on my list personally and something we have been planning for a long time. These plans have been complicated by the pandemic and all its impact. However, at the same time, they may present a unique opportunity for the class of 2021.Right now, colleges have been impacted financially due to the pandemic and are focused on maintaining their enrollments with the upcoming class.Many people do not even realize that negotiation is a possibility....