LATEST FROM OUR BLOG
The COVID-19 pandemic has sent major economic shocks around the globe. As the disease spread across the continents, taking the lives of many, and infecting more and more people, governments were forced to take drastic measures in order to save people’s lives. Imposed lockdowns and travel restrictions meant that economies were practically shut down and many workers found themselves unemployed. Governments introduced major stimulus packages to keep their economies going by preserving jobs and incomes, however, with economic activity below pre-pandemic levels and despite these measures, many workers found themselves unemployed.
As a consequence, record unemployment numbers were registered: just in the first few weeks of lockdown in the US as many as 6.6 million people filed for unemployment benefits per week. The unemployment rate skyrocketed to set a new record in April 2020 – at 14.8%, the number had not been seen since the Second World War (pre-pandemic, the US unemployment rate had been around 3.5%). It is worth noting that in the early months of the recession, the industries that were affected the most were those that provide in-person services such as leisure and hospitality. Other industries that are vulnerable to significant job cuts are food & beverage, retail & clothing, and automotive.
In Europe, the unemployment rate (seasonally adjusted) was fixed at 8.1% in January 2021, representing an increase of 0.7% since January 2020. In real numbers, this translates to 15.7 million men and women who were unemployed in January 2021. A closer look at these numbers reveals the scarring effect of the coronavirus pandemic: unemployment among youth is significantly higher than among older generations. Specifically, in the second quarter of 2020 youth unemployment rate reached 16% compared to 4% among the older cohort (aged 55-74). Older workers have one undeniable advantage that younger workers simply don’t possess owing to their age: years worth of professional experience. This factor explains the disparity in unemployment rates between young and older workers. Furthermore, one study even found that unemployment early in a young person’s career increases the probability of subsequent unemployment, making the current coronavirus pandemic disastrous for youth unemployment.
Because of the high unemployment and high competition for available jobs, a lot of people in Norway have turned to services like https://cvguru.no/, which helps them craft a professional resume and cover letter, in an effort to stand out from the crowd.
A similar problem is observed In China, where unemployment of those aged 20-24 was 4 percentage points higher in September 2020 than the year before. Overall, the Chinese urban unemployment rate rose to 6% in April 2020 compared to 4-5% that was observed for the last 20 years. Yet, these figures are cause for doubt themselves since they do not take into account rural migrant workers. If the migrant workers were included, the unemployment rate would rise from 6% to as much as 20%.
Now that large-scale vaccination programs are underway, it is expected that unemployment rates will fall as economies will begin to gradually open up. In fact, covid vaccination programs themselves created a mini hiring boom as ambitious goals for vaccine administration (e.g. 100 million doses in the US during the first 100 days of Biden’s presidency) created a demand for medical workers and truck drivers.
A loan comes in all kinds of shapes and forms, with all types of terms in the agreement. They range from personal loans to business loans to student loans. They help you with things like mortgage payments, student fees payments, house payments, card payments, and more. People take all kinds of loans. The most common loans that are borrowed by people or car loans, home loans, and student loans. For example, a person who is not particularly wealthy, borrows a student loan from a bank, because he wants to go abroad and study in a country where education is particularly expensive. When he borrows a large sum of money like $30,000 or $40,000, he has to provide collateral for the loan. When you take a loan from a bank, they need an assurance that you will pay it back. This collateral that I’m talking about can be a property, like a house, a car, some jewelry, a bank account that has that much money, or more. Normally, people take loans, not because they do not have money at all, but because they do not want to spend the money that they have saved up.
The most common financial institutions that lend money to individuals are banks. If I want a loan, I am going to go to my bank indeed. Credit unions also lend people money. People borrow loans from banks for their businesses as well. This is called a business loan. It is also essential that you know that all these different kinds of loans have different rules and regulations. They also have different rules for paying it back. For example, a student, when he borrows the loan, does not have to paid back for a year or two after he finishes his education. If he has borrowed a loan in the year 2020 and he is going to be completing his course in 2023, he does not have to paid back until 2025 or longer. Some banks are very lenient when it comes to student loans because the students are starting out from scratch and they need to gain an income before they start paying back the loans. Keep in mind that the students will be paying an interest rate for the amount of money that they have borrowed. We tend to suggest both students and all people try using a portal that helps you send you many loan applications to different banks to get both the best offer, but also the highest probability of getting the loan, the portal we usually suggest the most is Lån.
If a person who has borrowed the loan, fails to repay the loan, the bank has all legal rights to claim the collateral that the person has provided. These kinds of loans are called secured loans. If the person has provided a bank account or a house as collateral, the bank will seize whatever is provided, to repay the loan.
The stock market refers to all kinds of public markets which exist in order to issue, buy and also sell stocks which trade on a stock exchange over the counter. Stocks are also known as equities; these represent fractional ownership of a company, and also the stock market is a place where investors can purchase and also sell ownership of such assets. A stock is obviously considered as an asset, and when you own stock, you basically on a fraction of a company. For example, if I purchase stocks of Apple, it means that a part of the company’s stock is owned by me. Purchasing stocks is a way of making money. You can buy stocks at a lower price and sell them when the stock prices are high. This is precisely what a lot of people do in the stock market. This is why you hire stockbrokers. You need to be very vigilant when you do this, because, the stock prices could plummet at any time and you should be incredibly careful of that. An efficiently functioning market is very critical to the development of the economy, and it also gives the company is the ability to access capital from the entire public.
I will not be talking about the purposes of the stock market, and I will also list out some of the important factors about it. Capital investment and income is an incredible aspect of the stock market. You invest capital into a company, when you buy the stock. Your capital is spent purchasing the stock. When you own the stock, it is a very important asset.
You may not know that the stock markets serves to essential purposes. The first is to provide finances to companies so that they can use the funds to expand the business. If a company issues 1 million shares of stock which initially sell for around hundred dollars a share, then that would provide the company with $100 million of capital, so that they can grow the business. With $100 million, you can do quite a bit. When you offer a stock shares, instead of borrowing capital which is needed for expansion, the company actually avoids building up debt and also paying interest charges for the money that they have borrowed.
The second purpose that I would like to mention is that the stock market serves investors as well. These investors are the ones who purchase the stocks. They build opportunities to make profits publicly. When a person sells stock that he owns, it means that he wants money in return for it, obviously. Sometimes you make a profit, sometimes you break even, sometimes you make a loss. It all depends on the price of the stock.
In this particular guide, I will be talking all about the drawbacks and also the benefits of banking and banking institutions. Banks are institutions that deal with money in the millions, every single day. Some very notable banks deal with billions of dollars daily, because they have customers who are billionaires. Where do you think billionaires keep all the billions? Some billionaires invest into real estate, some billionaires invest into boats or yachts or ships, and some of them keep it in the form of money. Well, you cannot precisely be a billionaire and keep all of your billions only in the form of money, I am definitely sure they would be invested in a lot of other places. Some billionaires are actually rich enough to buy the entire bank itself.
Anyway, this particular guide is not going to be about billionaires, but, it is going to be about the pros and cons of banking institutions. These businesses are financial businesses who deal with money on a daily basis. Banking has actually changed quite a bit in the last few decades. A lot of banking activities are now done with the help of the internet. Banking is a numbers game. High-interest rates and lower fees and also the advent of digital technology is something that has influenced online banking very successfully. I would say that online banking is a huge advantage for people, ever since the coronavirus pandemic has confined us to the comforts of our own houses.
All banks have an online presence. Any bank that does not have an online presence, is not a bank where you should keep your money in. I will now speak about some pros and cons.
- You have so many choices, when it comes to banks. You can have a trust fund, a savings bank account, a fixed deposit account, a recurring deposit account and more.
- Banking can be a stressful activity, but once you get the hang of it, it is very convenient and helpful.
- Banks happened to be the safest legal place to store your money.
- A lot of banks are now very flexible. You can walk into their physical branches to deposit money and start dealing with the money that you have deposited with the help of technology. They offer some free services as well.
- A traditional bank is an attractive option, if you are depositing cash. But, if you are someone who has a lot of inflow and outflow of cash within your accounts which happen with the help of the internet, online banking is your scene.
- One of the most significant drawbacks of banks is that they are reducing their interest rates for fixed deposits.
A lot of banks also charge a lot of fees.
Whenever we want to purchase something, we pull out cash. Cash or money is currency. It is different in every single country. The currency in the United States of America is dollars, the currency in the United Kingdom would be (Great Britain Sterling) Pounds, and the currency in India is rupees, I am sure you get the picture. Without currency, our lives would crumble into 1 million pieces. Currency refers to paper or money, which is in the form of paper and even coins which are in circulation and keep the world running. Without money and currency, our world will STOP WORKING. The world cannot function without money, and that is a sad truth. Currency is something that is indeed a small piece of the monetary economy but plays and an essential and integral role in it.
You cannot do anything without currency. I am sure you know that. Most of the money exists nowadays as credit money or even in electronic forms. It is in banks and financial institutions. The bread and butter of every single day transactions would be a currency. Without currency, it just wouldn’t work.
How can you hope to grow your business without currency? Your business needs capital to grow. Your business needs capital to pay your employees. You need currency to live your life.
Money is like water; humans in a civilised society cannot survive without it.
Currency actually makes up a decent amount of the entire money supply. The value of currency actually keeps changing everywhere.
For example, Currently, one American dollar is worth 75 Indian rupees. One GBP is worth 95 Indian rupees.
GBP, Rupees and Dollar are currencies. They are some of the most talked-about currencies in the world.
By accepting or giving out currency, a merchant can actually sell their goods or receive goods and have a convenient trade. When you purchase something, you are trading currency for a particular product. Without this kind of activity, our everyday life cannot happen. Even if you want to go to university, you have to pay the university a certain sum of money to receive their education and stay at the university.
If we are talking about businesses, and if you are a business owner, you know how important money is to run a business. Without money or currency, it is virtually impossible to get anything done, much less grow your business. There are so many expenses, when it comes to handling a business. All of these expenses are incurred because of the functioning of a business. The functioning of a business requires a decent amount of capital. Capital is invested by investors. Investors make use of currency/money to do so.
Deciding on the right insurance for your startup is very important, and it isn’t something you should just do in a hurry.
This is because insurance is like a protective umbrella for your company. Choosing the right kinds of coverage can be tricky, though. Startups have to become aware of the best way to invest their capital, and how to gain the best protection for their business and workers.
To help you with this, we have written five simple things you need to know to choose the right insurance for your startup.
Survey the market and talk to several insurance companies.
Instead of just googling the first insurance company that jumps into your head and getting coverage from then, you should contact several insurance agents ahead of choosing between them. The upsides and expenses will be different among the different companies, and this is why you should consider at least four or five of them before signing the deal.
Decide on a strategy that will grow with you.
You may get a great feeling when you’ve landed an insurance contract for your workers. When you’re looking for the right contracts, you need to consider if the costs will turn out well as your company grows. In some insurance companies, only have the option to pay insurance for your employees individually, which makes it very expensive to grow your business. But if you find an insurance company that gives great offers for those who have dozens of employees, and you think about growing your business, you should definitely consider one of these actors. This strategy of preparing for growth is useful in every other area of your company, by the way, so this is something you would be wise to master!
Know the way your insurance provider works out their charges.
Naturally, you’d like to look around for varying insurance businesses and choose the cheapest price. Therefore you have to discover how they all determine their costs. How they do it should be available to you as a customer. For example, do they consider the magnitude of your business and the trade you’re working within? Understanding how they size up your company will make it possible for you to be more knowledgeable.
Consider the final expense of your insurance per worker.
When you sign a contract with the insurance provider you chose, you need to inquire what the total expenses will be per worker you have hired in your company. It’s always possible that you get caught unaware and have to pay extra costs, based on the circumstances of your worker. Knowing about how the expenses change as time goes will make you more capable of making the right choices and deciding on the best insurance provider for your startup.
For instance, teeth insurance can be a no-brainer with companies like Tannhelseforsikring that have very set guidelines for what’s covered by the insurance, and it doesn’t hurt that they explain it very easy for everybody to understand how the teeth insurance work.
Don’t just guess what’s included and not in the insurance.
All companies are different, and you need to pick insurance on the basis of your worksite, what kind of company you have, and more. If you have a normal plan like property insurance, don’t think that it will always account for every potential hazard, like earthquakes or an alien invasion. Think about the most common hazards in your area, like monsoon rain, storms, or the like, and get coverage for them.
The very system of ethical and moral beliefs is something that guides all our values, behaviours and all kinds of decisions that we make in a business organisation. It is also something that drives a lot of individuals, because they have a code that they have to follow. The ethical requirements for businesses are actually coded into law. The environmental regulations that a business has like minimum wage, restrictions against child labour, restrictions against collusion, restrictions against bribes or all under the minimum standards of business ethics. There are many things that qualify as a business ethics, and they change over time. They are also very essential for the proper functioning of a business.
Management teams actually set the tone as to how the entire company runs on a daily basis. When they are using philosophy which are all based on ethical practices and behaviour, leaders within the organisation can actually help by directing the employees by example and also guide them in making all kinds of decisions possible and in ethical ways. Ethics in leadership within a business is one of the most important things when it comes to the smooth working of a business. Running a business in an ethical manner is undoubtedly important, and it is also something that holds the bond between individuals and the entire management team. It also creates proper stability within the very company itself.
When it comes to ethics between employees, management is actually responsible for this. The employees need to know how they should be ethical. They should be given a set of rules and regulations that they have to follow. Employees actually make much better decisions in less time with a business ethics as a proper guiding principle. This also increases productivity and the overall morale of the employees. Employees complete the work in ways that are based on integrity and honesty, as well—the entire organisation benefits from this. Employees who work for companies that demand a high standard of business ethics are more likely to perform their jobs properly and at a higher level of discussion and quality. They also stay inclined to be completely loyal to the business.
Business ethics actually vary from industry to another industry. It also varies from one nation to another nation. The entire nature of the business and its operations have a proper influence on the ethical issues which must be looked into. An appropriate example of industry-specific business ethics exists in the field of energy. Companies that happen to produce energy, nonrenewable energy particularly, face a lot of under landed scrutiny on how they treat the environment. They are companies that require a lot of business ethics to function properly.
Apart from the passing away of a partner, going through a divorce can be among the most world-altering, negative periods in a person’s life. Also since we are in a business world, bad divorces can end up very ugly for your financials, so it’s crucial getting hold of a good divorce lawyer and is often difficult because when the moment comes that you need to look for them, you often have a lot of additional headaches to handle at the same time.
The lawyer you end up choosing is going to stand by your side for up to a year or more (if you’re unlucky), and this makes it critical that you find the best divorce lawyer you can. This will make the whole situation easier to bear for you and your loved ones.
In order for you to find expert help when you need it, we have listed five critical things you should look for in order to get a good lawyer during your divorce:
- Excellent Communication Skills
Having straightforward and simple communication with your lawyer will be of great help. Throughout your divorce, you’ll have to speak out your worries and wanted outcomes to the lawyer, and they have to talk to you in a way you understand the topic of your divorce. If the lawyer isn’t able to see your viewpoint clearly or say things in simple terms you are able to wrap your mind around, it’s best to move on to another candidate.
Though it can appear to work against you, the best-case scenario would be if your lawyer can communicate effectively with both your previous partner and their lawyer, since this can make the case less costly, and feel less hurt. The best lawyers are the ones who attempt to solve the divorce case before it has even begun. Naturally, this requires your partner and their lawyer to be able to communicate calmly and effectively as well.
If things should go as far as to the court, your lawyer has to possess the ability to speak your case clearly and convincingly. When they do, they will often manage to explain your interests well and win over the head and heart of the judge (perhaps not quite like what you see in some movies, but a more realistic version of it).
- Competence and Training
It’s important to find a lawyer who won’t just speak your case but speak it excellently. If they’re going to do this, they must of course be very competent at their craft. Your case will possibly revolve around all the different parts of your life, for example, your family, economy, work, plans after work, etc. To make sure you get the most out of the case, your lawyer needs to have the knowledge and training to handle all the variables in your case. But they should also make it possible for you to live like you normally do during the case period.
When looking for a good attorney, you should follow the principle of specificity: you should choose a lawyer who has handled a lot of similar cases, i.e. cases around divorce. Investigate their main work area and the results they have gotten there before you make the leap and decide on a lawyer.
When thinking about what divorce lawyer to hire, try to find one who is accessible during the critical phases of your case. They need to be able to answer your queries promptly, and if they can’t answer immediately, to give you a realistic time frame upfront within which you can await a response.
It’s also important to find an attorney who isn’t drowning in the cases of other customers but has enough time to dedicate themselves quite strongly to yours. It’s not realistic to think you should be their only customer, but just make sure you’re not drowning in a pool of them.
- Calmness (i.e. Being Tilt-Proof)
When it comes to your lawyer’s capacity for remaining calm, we’re not only referring to how they should speak clearly and simply to you, but how they need to be able to remain tilt-proof despite facing some extremely annoying lawyers on the other side of the case. You need to find a divorce lawyer who can be passionate about presenting your case, but who won’t become visibly angry when things don’t go their way.
Unexpected incidents do occur in divorces since you aren’t capable of knowing exactly what your partner and their lawyer will say or do. Your lawyer needs to know this, and thereby know that they can’t win every case, but will do everything they possibly can to do so.
- Help and Resources
You won’t probably be your lawyer’s only customer, and since they’re just a normal person like any other, they won’t be constantly accessible whenever you have a query to pose. Therefore you should find a lawyer who’s got help and resources to count on in times of need. This way, you will feel safe that your lawyer isn’t a one-man mountain who tackles everything by himself, but has a support team around him which makes his work a lot easier to manage.
After reading this article, you should know why a good divorce lawyer is critical during a divorce, and how to find them. There are countless websites on which to compare and choose among every kind of lawyer you could need. Expert help like Advokat Stavanger could be just a few minutes or hours away.
Business ethics happens to be the study of proper and appropriate policies of the business and also the practises when it comes to potentially controversial subjects which include corporate policies, governance, liberty, bribery, insider trading, discrimination, corporate social responsibility and all kinds of fiduciary responsibilities as well.
The law also states and says that business ethics is something that every single business should follow. All businesses should follow basic guideline so that you can gain the approval of the public.
Business ethics also refers to the implementation of appropriate business policies and practises which the employees have to follow. It is usually about arguable and controversial topics. Some issues which come up in a discussion of ethics would include the above things that I have stated.
Business ethics also ensures that a certain basic level of trust would exist between the consumers and also all kinds of market participants within the businesses. A portfolio manager should actually give the same consideration to the portfolios of family members as other individual investors as well. This is a really good example. These kinds of practices basically ensure that the public would receive proper and fair treatment. It ensures that there is no partiality.
The very concept of business ethics initially began in the 1960s because corporations started becoming very aware of the rising customer based society and also, they started showing concern about the environment, corporate responsibility and all kinds of social causes. This kind of increased focus on the social issues was definitely a hallmark of the decade. Since the time period that I am talking about, the very concept of business ethics has evolved and become something huge. Business ethics actually goes beyond a moral code of right and wrong. It also attempts to reconcile some things that companies do illegally. Business ethics strives to stop the illegal activities that most companies conduct. It’s on display is a virtue in a lot of ways. It is meant to ensure a certain level of trust between the corporations, the customers and even inside the business.
When we are talking about preventing unethical kind of behaviour, we should also repair the negative side effects. Companies actually look for managers and employees who always report these kinds of instances and people who can observe and report. Some barriers within the company culture itself require some reporting and investigation. Business ethics will tend to do an excellent job in such places.
Some companies fear retaliation on the part of the employees. That is why, most companies make the employees sign a waiver before they are hired. You need to sign certain documents, before you start working for a company.