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Toronto Star
06-05-2025
- Business
- Toronto Star
Toronto Star nominated for seven SABEW Canada Best in Business awards
The Toronto Star has earned seven nominations across six categories for this year's Best in Business Awards. Every year, the Society for Advancing Business Editing and Writing (SABEW) nominates journalists for their 'outstanding Canadian business reporting.' SABEW received more than 202 entries for its awards this year, narrowing it down to three nominees for all 13 categories.
Miami Herald
05-04-2025
- Business
- Miami Herald
Suze Orman warns Americans about 401(k)s, tariffs, recession fear
Stock values have cratered in the two days since President Donald Trump unveiled his global tariff plan after the close of trading on April 2 - and millions of Americans have watched helplessly as their 401(k)s and other investments quickly crumbled. The damage to markets was "significantly larger than expected," Federal Reserve Chair Jerome Powell said April 4 at a Society for Advancing Business Editing and Writing (SABEW) conference. Don't miss the move: Subscribe to TheStreet's free daily newsletter Personal finance author and media personality Suze Orman issued a warning for readers and offered some financial recommendations about how to handle the pressure-packed situation. If the tariffs proceed as announced and affect trade, Orman explained, the economy could be headed for difficult times and the question of whether a recession is imminent looms. Related: Jean Chatzky sends strong message on Medicare Americans are understandably concerned about the short-term and long-term ramifications of financial hardship - including about the value of their 401(k)s and other retirement savings. Orman discussed those worries, how they affect people and suggested some important ways Americans can react. Getty Regarding recession concerns, Orman acknowledged that workers, in addition to retirement savings worries, are also nervous about potential layoffs. "I won't tell you not to be fearful of the financial road ahead," Orman wrote in a newsletter. "But I need you to listen to me: Don't make financial decisions out of fear." More on retirement: Dave Ramsey bluntly warns Americans about Social SecurityTony Robbins sends strong message on Social Security, 401(k)sScott Galloway shares bold words on Social Security controversy Orman mentioned her belief that fear can be a big "destroyer of wealth." "When we are fearful, we tend to follow our emotions rather than use our brains to focus on what we need to do - and not do! - to reach our long-term goals," she wrote. Focusing on the future, Orman explained her view that people should stick to their diversified investment strategies. "And don't stop contributing more to your retirement accounts," she wrote, referring to 401(k)s and IRAs (Individual Retirement Accounts). "When markets are down, your money buys more shares. More shares that history has shown us eventually rebound." People about five years away from retirement should try to have three years of living expenses tucked away in cash. And those worried about a recession, Orman wrote, ought to have at least eight months of cash in an emergency fund. "That gives you time to ride out corrections and bear markets without having to touch your stocks," she wrote. Related: Dave Ramsey bluntly warns Americans about Social Security Employer-sponsored 401(k) plans frequently offer company matches, which Orman advises workers to take advantage of and contribute the full matching amount. She advises contributing 10% to 15% of a person's income, depending on how old one is and their financial capacity. Many companies offer a Roth 401(k) option, which Orman suggests choosing, because taxes on those are paid before contributions are made. This allows for tax-free withdrawals in retirement. Orman has similar advice about IRAs. For the same tax purposes, she recommends investing in Roth IRAs rather than traditional IRAs. Beginning to invest as early as possible in one's career is important because it gives one more time to leverage compounding growth. This is key because it allows a person to make the most out of their investments and possibly exceed their retirement savings goals. During uncertain economic times, Orman explains, it is even more important to stay away from taking on any new debt. "It's also a great time to work hard on reducing any high-rate debt you have," Orman wrote. "The less debt you have is always good for your financial security, but it becomes even more important when you are worried about job security if a recession materializes sooner than later." "I hope you will take this seriously and give your finances a thorough review to separate your 'needs' spending from your 'wants' spending," she added. "Be brutally honest with yourself. If you are fearful about anything, cutting out 'wants' spending will give you money to put toward dealing with fears." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Washington Post
17-03-2025
- Business
- Washington Post
The Post is recognized with five Society for Advancing Business Editing and Writing awards
Washington Post journalists on the Business and Technology desk were recognized with five awards as part of the 2024 Best in Business competition by SABEW, the nation's largest association of business journalists. Michelle Singletary won the top award in the Commentary/Opinion division, Large Market, for her multimedia series 'Scammed,' about a Maryland woman cheated out of her life savings by a con artist posing as an FBI agent. The judges called the seven-part series 'a 'wow' story that puts the reader deep inside a sophisticated financial scam operation,' praised Michelle for going the extra mile in her reporting and applauded how the videos, illustrations and other visual elements 'further humanize the story, vividly demonstrating how scam victims are manipulated.' Koen De Gussem illustrated the project, with animation by Charlotte Dua, Karolien Raeymaekers and Bavo Croes. The project was edited by Robbie DiMesio, and included contributions from Kathleen Rudell-Brooks, Audrey Valbuena, Josh Carroll, Amber Ferguson, Tom LeGro, Haley Hamblin, Junne Alcantara, KC Schaper, Rivan Stinson, Sophie Yarbrough, Maite Fernandez Simon, Megan Bridgeman and Kathleen Floyd. Michelle and Charla Freeland also won in the podcast/audio category for their Post Reports podcast episode on the project, which the judges said 'leaps off the page, or in this case, out of the speakers.' These are Michelle's third and fourth SABEW honors: In 2022, she won for a series of columns about how the Internal Revenue Service is failing low-income citizens. And in 2019 she became the first woman of color to be presented with SABEW's Distinguished Achievement Award. The Post also won in the retail category, where Lauren Kaori Gurley, Emmanuel Martinez and Julia Mata were honored for a selection of investigative stories about child labor in the fast-food industry. 'The investigation had a big impact, pushing powerful investment managers and public treasurers to demand McDonald's take tougher steps to address child labor violations at its franchises,' the judges wrote. The judges also praised a gorgeously rendered comic about a high school senior illegally scheduled to work late and long hours at a Los Angeles McDonald's. The project was edited by Jen Liberto. In addition, SABEW judges recognized Post journalists with two honorable mentions: The winners will be recognized at SABEW's annual conference April 3-5 in Washington, D.C. Please join us in congratulating these remarkable journalists!
