Don't be afraid to be ambitious, whatever that looks like for you
1. People often undervalue what they are capable of. Don't be afraid to be ambitious, whatever that looks like for you. If the worst outcome is that you tried and learnt a lot, then that ambition has paid off.
2. Don't let perfection stop progress. Plans are important but don't be too rigid. Trying to devise a 'perfect plan' can sometimes stop you getting started. Moving forward allows you to learn, which will lead to better outcomes.
3. Community is essential. Strong support networks are so important for wellbeing. Creating a culture where staff feel supported and part of a community with shared values creates environments where people can learn from each other and develop ideas.
4. Everybody eats — find a connection. Discovering those points of commonality with people allows you to build open relationships, sparking ideas and challenging your own assumptions.
5. Have a laugh, it's not all about work. Try to inject humour where you can and remember smiles are infectious. Allow employees to balance their own personal and professional responsibilities. It shows that you recognise life outside of work is important, which builds trust and loyalty.
6. Listening is underrated. You'll get the best insight into your operations by listening to people you interact with, whether that's colleagues, beneficiaries or stakeholders.
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BBC News
5 minutes ago
- BBC News
Car finance payouts limited, but lenders aren't off the hook
There may well be a few sighs of relief from senior finance company and banking executives following the Supreme Court's ruling, but it is unlikely you will hear the champagne corks verdict does almost certainly reduce the potential compensation bill significantly. Lenders no longer face the prospect of having to pay £30bn to £40bn to aggrieved car buyers. The likelihood of the government stepping in also appears to have receded the industry is not off the hook. The Financial Conduct Authority may still open a redress scheme for cases where dealers had a financial incentive from lenders to ramp up interest rates on loans as much as possible. The Supreme Court's ruling also upheld one consumer claim, in which the commission payments were deemed unfair – and that could provide a template for others to follow. All of this means the compensation bill could still be in the Supreme Court's intervention has been eagerly awaited since October, when the Appeal Court issued a verdict in three test cases which could have triggered an avalanche of compensation each case, people who had bought cars on finance claimed they were partially unaware that the deal had involved a commission payment being made by the lender to the car dealer. They claimed that in law the commissions amounted to bribes, or secret Appeal Court judges agreed, essentially saying that commission payments made by a finance company to a dealer for arranging a car loan were illegal if the car buyer had not given his or her "informed consent".They also concluded that a car dealer had a "fiduciary duty" towards the car buyer when it came to arranging a car loan. In other words, the dealer should set his or her own interests aside, and act purely on the customer's meant that millions of car buyers could potentially claim compensation – if they could show that the dealer had not specified what commission payments they were receiving for lining up a finance deal. It was not enough for the details to be buried in small had feared that this would lead to an avalanche of claims against them – and that the same arguments could be used to challenge other kinds of consumer finance agreements as well, potentially increasing the compensation bill still the Supreme Court threw very cold water over those arguments. The President of the Court, Lord Reed, dismissed the idea that car dealers had a "single minded duty of loyalty" to their customers, and insisted they "plainly and properly" had personal interests in the finance agreements they were involved ruling clearly blocks off what could have been a very wide avenue for compensation claims. However, the court did side with one of the claimants. In the case of Marcus Johnson, a factory worker, it decided that the finance agreement was "unfair" under the terms of the Consumer Credit Act. This was because the size of the commission payment was very large, and because Mr Johnson had been misled about the relationship between the dealer and the lender. He was, they said, entitled to say this could open the doors for other cases in which the commission payments are seen to be is also a key question the Supreme Court ruling does not answer. This is what should happen in cases involving so-called Discretionary Commission Agreements (DCAs). These were finance deals in which the car dealer could set the interest rate of a loan, within a set scale. The higher the rate, the more commission they would be paid – and the customer would be unaware of the Financial Conduct Authority banned such deals in 2021. It is now considering whether to launch a redress scheme for consumers who were affected by them. If it goes ahead, millions of car buyers could still have a claim, though it is not clear how much compensation they would to Richard Barnwell, a financial services advisory partner at accountancy firm BDO, the bill could still be substantial."We believe there is still a potential for redress, for example, if discretionary commission arrangements are deemed to be an unfair relationship, redress could still be from to £5bn to £13bn or more," he analysts agree. According to Martin Lewis, who runs the MoneySavingExpert website, "the Supreme Court has certainly narrowed the number of people who will be able to reclaim car finance. I think you're probably talking the lower end of £10bn, as opposed to £40bn."That £10bn would still be a significant figure. But the finance industry appears to have avoided the potential free-for-all rush to claim compensation the earlier verdict had threatened to spark while the Treasury says it will "work with regulators and industry to understand the impact for both firms and consumers", the BBC understands that the likelihood of the government intervening with retrospective legislation to protect financial firms has now diminished law of bribery only applies to persons who owe a single-minded duty of loyalty and are therefore bound to have no personal interest in the matter that they are dealing the present case the car dealers plainly and properly have a personal interest in the dealings between the customers and the finance companies.
Daily Mail
5 minutes ago
- Daily Mail
Euronext eyes Stock Exchange bid amid deals frenzy
Euronext would consider buying London's stock market if it is put up for sale. Chief executive Stephane Boujnah said London Stock Exchange's parent had shifted towards data and analytics services. His comments come amid a crisis in the City amid a takeover frenzy. New York has been the primary destination for defectors, with fintech darling Wise its most recent scalp. Delivery giant Just Eat and travel operator Tui have both chosen European capitals in recent years. Euronext operates across Europe and recently offered to buy Athens Stock Exchange for £360m. Boujnah described Euronext as 'home sweet home' for firms bridging domestic industries and international markets. He noted that the London Stock Exchange Group (LSEG), which owns the UK stock market, has increasingly shifted towards data and analytics following its acquisition of Refinitiv in 2021. But LSEG boss David Schwimmer said 'it gets a lot of focus, a lot of attention, a lot of capital and a lot of support'. LSEG's 'broader scale' allows it to work on the exchange's behalf in dealings with companies, ministers and regulators, he added.
Daily Mail
5 minutes ago
- Daily Mail
Donald Trump hits out at Federal Reserve as US jobs fall
Donald Trump launched a fresh attack on the chair of the Federal Reserve after the US jobs market suffered a sharp slowdown over the summer. The world's largest economy added just 73,000 jobs in July – fewer than the 110,000 expected – reviving hopes of a September interest rate cut. And figures for May and June were lowered by 258,000 in an unusually large revision by the US Bureau of Labor Statistics (BLS). In retaliation, Trump last night said he would sack BLS head Erika McEntarfer. It came as US stocks tumbled after Trump slapped tariffs on trading partners. The Dow Jones Industrial Average fell 1 per cent yesterday afternoon, while the S&P 500 dropped 1.2 per cent. The tech-focused Nasdaq was down 1.7 per cent. European stocks were also rocked by Trump's trade war, with Germany's Dax losing 2.7 per cent and Paris's Cac index dropping 2.9 per cent. The UK got off lightly as the FTSE 100 fell 0.7 per cent, or 64.23 points, to 9068.58. Pharmaceutical firms were among the biggest fallers in London after Trump demanded lower prices. AstraZeneca fell 1.9 per cent and GSK dropped 1.5 per cent. The retreat came as revised figures showed the US economy added just 14,000 jobs in June, a figure revised from a previously reported 147,000. Payrolls for May were slashed by 125,000 to a gain of 19,000 jobs. The BLS described revisions as 'larger than normal'. Atakan Bakiskan, US economist at Berenberg, said: 'The July report provided ammunition for those expecting a Fed rate cut in September.' 'This data has led to a rapid recalibration of US interest rate expectations,' Kathleen Brooks, research director at XTB, said. On his social media platform Truth Social, Trump wrote: 'Too little, too late. Jerome 'Too Late' Powell is a disaster. DROP THE RATE! .. Tariffs are bringing billions of dollars into the USA!' The President has branded the central bank chair a 'stubborn moron', saying he 'must lower interest rates now'. 'If he continues to refuse, the board should assume control and do what everyone knows has to be done,' he added. Reports last month suggested Powell's future could be in doubt after Trump met congressional Republicans to discuss sacking him. But the President later insisted he would only fire the central bank boss if he were guilty of fraud.
