South Korea Finance Minister Sees Third Extra Budget as Last

(Bloomberg) — South Korean Finance Minister Hong Nam-ki sees a third extra budget pending approval in parliament as the last for this year and said the economic shock from the coronavirus pandemic may have bottomed.

South Korea’s economy can still avoid its first annual contraction in more than two decades if stimulus measures including the latest supplementary budget get carried out quickly enough to build on the momentum of improving exports and consumer confidence, Hong said in an interview with Bloomberg on Friday.

“We are seeing signs of consumption and exports recovering from May,” said Hong, who also serves as deputy prime minister. “What’s more important than pouring out more measures and money is ensuring that the third extra budget and the series of measures taken in the first half feed through.”

The government has so far pledged more than 270 trillion won ($225 billion), or roughly 14% of its

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Brett Conti left his unfulfilling finance job and started a skateboard empire

When Brett Conti started his internship at a finance firm, he knew almost immediately that this was not the career path he wanted. 

“I didn’t just want to be a robot,” Conti told In The Know. “I wanted to do something much bigger.”

A big part of his life up to that point had been skateboarding, but he did it for fun and had no intention of turning that hobby into a full-time job.

But when he was injured and had to take a break for six months, he turned to another creative passion of his: Clothing. Bored and feeling stuck in his college dorm, he started making pocket t-shirts and hats with his grandmother’s sewing machine.

Conti’s grandfather owned a textile company and Conti grew up learning about different fabrics and the fundamentals of creating clothes. Again, this was another interest of his that he never planned on turning

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Trump is no longer the best candidate for business

For most of the last three years, investors and business owners have backed President Trump’s handling of the economy, even if they disapproved of his disruptive leadership style. Trump cut taxes and slashed regulation, gifts to corporate America that boosted business income and stock valuations.

There’s almost no chance Trump could be so generous to business if he wins a second term, since the federal debt is soaring amid the severe coronavirus recession and trillions in new stimulus dollars. “At the beginning of the Trump administration, the agenda was squarely focused on market positives,” Ed Mills, Washington policy analyst for Raymond James, says in the latest episode of the Yahoo Finance Electionomics podcast. “That to-do list is done. Much of what could have been done is completed.”

Trump hasn’t outlined a thorough economic agenda for a second term, but he has indicated his trade fight with China could continue

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Britain’s finance sector too slow to hire women to top jobs

LONDON (Reuters) – Britain’s finance ministry wants more ambitious diversity targets at financial firms as the pace of hiring women to top jobs is too slow, a review said on Tuesday.

A Women in Finance charter was launched in 2016 by the finance ministry in a bid to improve diversity in the financial sector where just 14% of executive committee members were women in 2015.

More than 370 firms with over 900,000 employees in total have signed up to the charter and commit themselves to voluntary diversity targets.

A review by New Financial think tank of 187 of the firms found that only a third have met or exceeded their own targets.

Women make up 32% of senior management on average, still short of the 33% minimum target the finance ministry would like to see for all signatories, the review said.

“I am determined to see the financial services sector

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