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Sales agility – the key to succeeding in the new disruptive landscape

Sales agility – the key to succeeding in the new disruptive landscape

Agility in business has become something of a buzz word in recent years. Increased disruption, spurred on by technology, stronger competition and cost cutting, is driving the need for organisations to become agile in all areas to succeed in this changing landscape. Against this backdrop agility in sales may seem like a new and trendy concept. It’s not the case.

In reality, effective sales professionals have always been more agile than their less successful peers, especially when it comes to winning complex sales. The correlation between sales success and sales agility has been around for decades.

Why? Fundamentally because no two customers are alike. Customers’ needs are wide and varied, influenced by their own goals and those of their department, as well as their contemporaries within the decision-making unit (DMU) and the organisation at large. And the product or service requirements a customer started out with can morph and change as they journey through the Buying Cycle.

To be persuasive and engaging from customer to customer, to be able to create and articulate value – not just for the person in front of you but for everyone involved in the DMU – while all the time keeping tabs on shifting ground, needs skill. And that skill is agility.

Tony Hughes, CEO at sales and negotiation specialists Huthwaite International, sheds light on the crucial attributes of agile selling.

1)  Active listening
Every customer’s perception of what agile looks like can be different.
Finding out what this means in each case is essential if the salesperson is to respond effectively. It’s not something that can be asked. And it’s not something most customers would think about in depth either, so may find hard to explain. The sales person has to work it out. The first essential skill in sales agility is therefore listening. That means really digesting the words the customer uses and how they choose to communicate their thoughts.

Years ago a not-for-profit organisation had problems with their fund-raising team. When asked by a specialist at Huthwaite to describe their organisation they talked about having poor performers, average performers and prima-donnas. They used a pejorative term to describe the high performers but not the other two groups. When this was pointed out it started to become clear that the charity had no culture of working with commercially successful people, so had difficulty communicating with their own high performers. That one piece of active listening and the insight it gave was all it took to find the right solution.

2)  Flexible verbal behaviour
As well as deeply understanding how the customer is using language, skilled salespeople are equally careful when choosing the words they use.
It’s often unconscious. Many effective salespeople can’t tell you what it is that makes them successful or they ascribe their success to something that, on closer inspection, isn’t actually what they do. It’s what we call the perception gap or unconscious competence and it’s the reason why Huthwaite’s models are based on observational research – not just the consultative approach taken by many of our contemporaries. Research shows us that perception gaps are much narrower for skilled sales people as they are fully aware of the language they use.

The good news is you can train people to become more aware of their language and narrow that gap themselves. Even better, as people become more self-aware, they can make choices and adapt their verbal behaviours to become more effective. We call that flexible verbal behaviour and it’s the key to success in every verbal business interaction.

3) Questioning skills
Salespeople cannot be agile in meeting their customer’s precise needs, priorities, concerns and desired outcomes without an in-depth and complete understanding of what they are. Gaining that understanding needs rigour. When it comes to questioning a seller must develop a systematic, consistent, structured approach. Huthwaite’s SPIN® Selling model is one of the best examples of a questioning methodology; and that’s why it’s used by sales teams around the world including many of the Fortune 100.

Value and risk are important considerations in the decision to buy but they are perceptions first and foremost. The customer’s perception is what counts. They have to work it out and know it for themselves but the seller can help them reach a conclusion by asking insightful questions about the problems they face, the consequences of not solving them, and the benefits of using your solution. That enables the customer to communicate the value of the product or service to the rest of the DMU in a much more compelling way. There’s a huge difference between “the sales person told me we’ll save…” and “I’ve worked out we’ll save…”

4) Knowledge
Before a sales professional starts asking more questions it’s crucial to know what questions to ask. No matter how well developed their listening and questioning skills are, if they bombard the customer with questions that are irrelevant nothing will move forward.
Knowing the right background information on the customer will help. Information such as the problems the customer may be experiencing that your product can solve, and particularly where you know you can solve it better than the competition, is useful. As are any industry developments or general trends that may be driving the purchase decision.

5) Confidence
One of the most powerful tools in the sales person’s repertoire is their confidence. There is little that impresses potential customers more than the calm, assured demeanour of a genuinely confident sales person.

A confident seller develops trust, provides reassurance and enhances their and their company’s reputation as well as the customer’s experience. Confidence enables the sales person to explore the customer’s needs and offer ideas in the most persuasive manner possible. Confidence cannot be learned, it has to be gained, and there is no better way of gaining it than by being fluent in a sales methodology that works. Investing in high quality sales training can be a wise move for any organisation.

6) Understanding the customer’s business strategy
Customer organisations can be complicated things, with any number of challenges that need addressing and almost certainly not enough resources to do it all. Prioritisation is crucial. Doing the important before the urgent is sometimes hard, but it’s an ability all great leaders have.

Whatever is closest to the customer’s strategic direction is what matters most. If the client company has a defined and universally accepted business strategy that lies at the heart of every decision they make – and all good companies do – it’s vital sellers understand it too. They must have the skills and knowledge to uncover and understand their customer’s business strategy. By aligning solutions to strategy, sellers will maximise the chances of their project being prioritised and being allocated the resources to close the deal.

7) Consider the whole customer DMU
It’s a fact of life that corporate buying decisions are rarely made by one single individual. It always involves a team. It may be through a formal buying committee or simply asking for a second opinion over the coffee machine. But be aware that somewhere there is someone influencing the buying decision who you will probably never meet and may never hear of.

Current research suggests, on average, there are 6.8 individuals involved in a B2B buying decision. That’s at least six people, all with different needs, alternate, and possibly conflicting decision criteria and varying degrees of enthusiasm (or apathy) about the project, as well as each of the potential suppliers. How does the sales person manage that? In theory, they just get all the key players to the decision point at the same time and with all of them favouring their solution. In practice it requires a deep understanding of the role each person has in making the decision (which incidentally may have nothing to do with their job title) and a clear strategy to address each one.

8) Negotiation
So, you invest in sales training, develop your team’s skills, strategies and confidence and give them the knowledge they need to do an outstanding job. And they do; they accurately assess the customer’s view of agility, build both value and clear competitive differentiation, present a persuasive case for your solution and effectively manage the complexities of the buying organisation. You’ve ticked all the boxes – the users love your proposal and your company has signed it off. So that’s it, the deal’s yours, right?

Wrong. Now you have to go and see Procurement – the professional buyer. It’s time to negotiate. It’s Procurement’s job to tell you they like your proposal but they can get the same thing 20% cheaper elsewhere, and what can you do. Of course, what they’ve told you isn’t always true. If they can really get it 20% cheaper, and it really is the same thing, they’d have bought it from someone else. They want to do a deal with you but they want better terms. They claim it’s a buyer’s market and they have all the power but that’s not true either. Unless it’s an entirely frivolous purchase they have to buy from someone. (The clue is in their job title.) But that won’t stop them doing everything they can even to the point of undermining your confidence and devaluing your proposition.

There’s one thing you can be sure of. They are experienced negotiators. Are your sellers equally familiar with the process? If not, they should be. Negotiation skills are the last piece of the jigsaw, the final weapon in the ultimate sales person’s armoury. And don’t think you can cut corners by just training the sales managers to negotiate and sending in the ‘big guns’ at the close. Buyers love it – because the only thing a manager can do that a sales person can’t, is give more concessions.

When used in combination, these attributes unlock a deeper customer intelligence and a clearer understanding of what’s needed to win the business without compromising margin, or undermining the integrity of the product or business behind it.

Business

The UnRefundables: Shoppers left out of pocket post-pandemic

The UnRefundables: Shoppers left out of pocket post-pandemic 1
  • One in ten shoppers (11%) left out of pocket or without refunds since pandemic
  • One in three shoppers (36%) actively avoiding purchasing due to refund worries
  • Clothes, hotel bookings, flights and electronics top list of UnRefundable items

New consumer research[1] commissioned by Visa has revealed a sharp increase in people unable to access returns or refunds for items bought during lockdown, with one in ten (11%) of those who requested money back still waiting for, or denied access, to a refund or voucher – a 215% increase from pre-pandemic times[2].

These items, coined “UnRefundables”, have left millions of concerned shoppers out of pocket. Of those that were able to access refunds for their items, one in five (20%) only received partial refunds, through cash or vouchers.

The consumer survey of 2,000 UK respondents and conducted by Opinium, revealed returns and refund requests have increased by 16% since the start of the pandemic, as more than two fifths (41%) of shoppers tried to return and refund items, services or events. Almost half (49%) of people who experienced refund issues didn’t get to use their purchase – receiving faulty or incorrect goods, items not arriving, products not being as advertised, being charged multiple times or billed the incorrect amount, or a purchase that wasn’t authorized.

UnRefundable fear putting pause on consumer spending

The research revealed that frustrations regarding refunds could have knock-on effects for British businesses, with over a third (36%) saying they have avoided making big purchases due to fears their money would not be returned and a quarter (28%) are more worried about securing a refund since the pandemic started.

Despite now being able to travel abroad and within the UK, there is increased concern amongst consumers making travel related purchases. In fact, one in three (34%) respondents say they are worried about a travel booking being refunded due to a local lockdown or “second peak” of the virus.

This follows a big increase in people trying to get refunds on flights and hotel bookings, with a fifth (22%) saying they have had more difficulties trying to get money back on cancelled holidays and events.

Why can’t Brits access refunds?

Over two fifths (43%) have been deterred from requesting a refund for an item, service or event at all – citing confusion about the returns process (15%), lack of time for the process (10%), the return window (also 10%), as well as no access to a printer for return labels (8%) as key pain points. Worryingly, one in 10 (10%) were not able to contact the company to pursue a refund.

The refund wait time has also increased notably during lockdown, with 12% saying it took over a month to get their money back compared to 7% who got a refund beforehand. Older people (aged 55+) are experiencing the biggest wait for refunds, with 5% waiting over a month before the pandemic, compared to 17% who have experienced this wait time since.

Visa has teamed up with personal finance expert Jasmine Birtles to allay consumers’ fears of being left out-of-pocket over the summer.

Jasmine Birtles commented: “If you bought something online that’s not up to scratch or hasn’t turned up, but the seller won’t budge or they’ve gone out of business, it can be tempting to chalk it up to a poor purchase decision or simply bad luck. With money a particular worry for many households currently, it’s important to research your refund options – you don’t always have to accept rescheduled dates or vouchers for equal or lesser amounts that leave you out of pocket and inconvenienced.

“If, after speaking to the retailer, you are still unable to get a refund, there are alternatives available to claw back those costs. You should contact your bank that issued your Visa card and ask them to pursue a chargeback claim, where they may be able to submit a claim to the retailer’s bank to request your money back. You can pursue a chargeback claim if you received only a partial refund, goods that weren’t as described, or have been offered alternative refund methods, including vouchers, points and rebooking. Your bank has 120 days from when the payment was made to make a chargeback claim, which is great news for people who might have missed the returns window. However, it’s worth noting that banks’ timeframes may vary and it’s best to file a dispute as early as possible to allow plenty of time. For travel, concert tickets or future-dated items, this time limit begins on the day of the event or holiday booking – providing extra reassurance to those worried about making holiday purchases.”

Jeni Mundy, UK & Ireland Managing Director, Visa, commented: “With consumer spending crucial to Britain’s economic recovery, it’s concerning to see that people are worried about securing refunds should they need to, and that in some cases this is even preventing them from making purchases. It’s important that people understand the many options open to them to get their money back should something go wrong. A good place to start is to get familiar with a seller’s cancellation, refund and exchange policy before you buy – this can often be easily found on their website. Another good way to put yourself in the driving seat when it comes to getting your money back is to pay using a Visa debit or credit card – this opens you up to the option of making a chargeback claim or provides credit card protection to ensure you aren’t left out of pocket.”

Visa’s UnRefundables: Top items being returned

  1. Clothes, shoes and accessories (31%)
  2. Hotel bookings (21%)
  3. Flights (20%)
  4. Theatre tickets (14%)
  5. Electronics (14%)
  6. Food and drink (10%)
  7. Home appliances (10%)
  8. Concerts (9%)
  9. Furniture & home furnishings (9%)
  10. Sporting goods (8%)
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Business

New Moneypenny Survey Shows How Office Life has Transformed in Post-lockdown Return to Work 

New Moneypenny Survey Shows How Office Life has Transformed in Post-lockdown Return to Work  2

A new survey by leading outsourced communications provider, Moneypenny, into the return to work post-Covid lockdown, shows that almost half (45%) of office workers surveyed are returning to work immediately, with a further 31% due back in the next one to four months, however 48% admit to having some concerns about COVID risks and a further 15% are not at all comfortable about going back to the office.

For some workers the return to work has been further delayed, with 5% not required to return to work until January 2021 at the earliest, and 18% having no specific date to return.

The North East and East Midlands have the most workers already back at work among those surveyed (53% in both regions) compared to the East of England which has the lowest proportion (41%).

New Moneypenny Survey Shows How Office Life has Transformed in Post-lockdown Return to Work  3

Navigating the new commute 

A reluctance to use public transport is shown in the fact that only 16% of those surveyed will use it to commute, while 66% will use their car. The East Midlands had the highest percentage of workers choosing to drive to work, with 81% saying they’ll commute by car, compared to 53% of those in London. Manchester had the lowest percentage of workers stating they’d be using public transport, with only 7% claiming it to be their commuting method of choice, while London had the most (29%).

Local Office Economy

In a blow to those hoping returning workers will boost the local economy, the survey showed more than 35% said that they won’t be visiting any local amenities when they go back to work.  There is a clear difference between the age groups however, as 51% of those aged 18-24 and 41% of those age 25-34 said they’d visit a nearby sandwich bar, compared with 21% of 45-54 and 11% of 55-64s who would do this.

Wearing masks in the office

The survey showed that 61% said their company has made masks compulsory, of which 28% require them to be worn at all times, in all areas, while 33% require them to be worn only in communal areas. A further 26% said their company has made masks voluntary and they plan to wear one, while 13% said they are voluntary but they won’t wear one.

When asked whether they minded having to wear a mask at work, 37% said they had no problems with the new rule, however, a further 36% said they would find it too much to do a whole day of work wearing a mask and 13% said they don’t mind wearing a mask at work short-term, but would be less happy if the policy was for the long-term. A disgruntled 9% don’t like having to wear a mask at work at all, as they feel it inhibits their freedom and human rights and they don’t like being told what to wear. A further 2% said they’ll refuse to return to work so long as masks are compulsory.

New Moneypenny Survey Shows How Office Life has Transformed in Post-lockdown Return to Work  4

In larger cities, masks are more likely to be compulsory at work, with 40% of those in London stating that their companies have already made them compulsory for all areas of the office, compared to just 14% of those surveyed in Yorkshire.

Co-workers and social distancing

Social distancing at work is clearly a concern, as 16% of those surveyed said that they don’t trust their colleagues to social distance in the office, while 37% trust some, but not all colleagues.  Scotland’s workers seem to be the least trusting, with 23% of workers stating they distrust team members.

Death of the tea round?

Some offices have banned the sharing of equipment completely (cited by 31% of those surveyed) while even without a ban, a further 35% said they won’t be sharing stationery and equipment with colleagues.

Even the tea rounds have been called into question. While 47% said they will make teas and coffees for their colleagues, 38% will only make tea for themselves and 14% said their companies have banned tea rounds.

Office workers in the East of England are most likely to only make drinks for themselves (51%), in contrast with London, where 25% will make drinks for themselves.

New Moneypenny Survey Shows How Office Life has Transformed in Post-lockdown Return to Work  5

 Commenting on the survey, Joanna Swash, CEO of Moneypenny said: ‘We were interested to see how many office workers are either already back at work or will be going back in the next few months.  While there is inevitably nervousness about Covid risks, it is positive to see the large proportion of people who are happy to work with their company in following the new health and safety rules and we’ve certainly been impressed by how innovative and agile our own clients have been in adapting to the new normal at work.’

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Business

Honest services wire fraud and the need for caution on multilateral development bank projects

Honest services wire fraud and the need for caution on multilateral development bank projects 6

By Joshua Ray, Legal Director, Rahman Ravelli www.rahmanravelli.co.uk

A recent court case extended US prosecutors’ extraterritorial reach for tackling corruption. Joshua Ray explains the implications for those accused of wrongdoing on multilateral development bank (MDB) projects

Imagine the following scenario: You are an executive for a Paraguayan construction firm that has just secured a contract with the Paraguayan government to build a hospital in that country.  The scale of the project means you will need to hire a number of subcontractors and, as you are in charge of choosing those subcontractors, you decide to seek bribes from those wanting the work. Such action is ill-advised and morally problematic. But as commercial bribery of this sort is not illegal in Paraguay, you may have breached your company’s code of conduct but you have not committed a crime under Paraguayan law.

Yet, unfortunately for you, the funds for the hospital were loaned to the Paraguayan government by the World Bank via a wire transfer from its Washington DC headquarters.  And under a recent decision from the US Second Circuit Court of Appeals, United States v. Napout, you may have just committed “honest services” wire fraud under US law—even though you never stepped foot out of Paraguay and did not break your home country’s laws. The Napout decision is important as it expands the extraterritorial reach of US prosecutors’ anti-corruption efforts.  For the reasons that I detail below, it has significant implications for foreign businesses, especially those engaged in projects sponsored by multilateral development banks (MDBs), whose financing comes from the US.

As they did after the 2008-2009 financial crisis, the World Bank and other MDBs are counteracting the current virus-induced global economic downturn with plans to deploy hundreds of billions of dollars in loans, primarily to governments in the developing world.  Much of this will be parcelled out to private sector entities to construct hospitals, testing facilities, sanitation systems and other important infrastructure. Such projects carry the risk of corrupt local officials and business leaders siphoning off such funds for themselves. MDBs are mandated by their charters to take all reasonable steps to combat fraud and corruption on MDB-financed projects.  They do not have law enforcement powers but they satisfy their mandate by building provisions into their contracts with direct borrowers (e.g. governments) that compel the borrowers to adhere to the highest ethical standards during the execution of MDB-financed projects.  MDB contracts require borrowers to give the banks freedom to audit any of their books and records that relate to MDB funds.

This right of an MDB being able to audit the books extends to any indirect beneficiaries of MDB funds for a project, such as suppliers, consultants and contractors. Such third parties must also agree to submit to the MDB’s jurisdiction to investigate and sanction them for corruption, fraud or other misconduct. Punishments imposed by MDBs can be harsh, and can include debarment; where a company is prevented from bidding on MDB-financed projects for a number of years or even indefinitely.  When an MDB uncovers misconduct through its own investigations it can – and often will – refer its findings to national law enforcement agencies; which can mean even more serious problems for those investigated.

The significance of the Napout decision regarding such situations is that it enables US prosecutors to pursue MDB-related bribery even when the purported wrongdoer is not subject to the US Foreign Corrupt Practices Act. Prosecutors can now pursue suspects for such bribery even if that suspect is not a US company, issuer or agent and has no other connection to the US.

The Second Circuit’s Decision

The appellants in Napout, Juan Angel Napout and Jose Maria Marin, were two former executives at football’s world governing body, FIFA. They had been convicted of using their positions to obtain millions of dollars in bribes relating to the sale of marketing and broadcasting rights. Napout had been president of Paraguay’s national football federation and Marin held the same post in the Brazilian football federation.

They both appealed on the basis that their convictions were the result of impermissible extraterritorial applications of the US honest services fraud wire statute.  The crux of their argument was summed up by Napout’s counsel, who argued that the US had no authority to police the relationship between a Paraguayan employee and his Paraguayan employer and an alleged scheme involving South Americans that took place almost entirely in South America.

The issue of whether the honest services fraud wire statute had been improperly extended to extraterritorial conduct was then reviewed by the Second Circuit. It concluded that as long as a wire fraud scheme involves a wire transmission from, into or through the US that is “essential” or more than “merely incidental” to the overall crime, the extraterritorial application of US law was permissible.

The appellants argued that honest services wire fraud was a materially different crime than regular wire fraud, as the focus of honest services wire fraud was not the use of the wires but the bad-faith breach of a fiduciary duty owed to the scheme’s victim. They argued that as the actual conduct underlying an honest services fraud scheme occurred abroad, it could not be prosecuted in the US solely because it used US wires.  But the Second Circuit disagreed: all that was required to uphold Napout’s and Marin’s convictions were facts showing that the use of US wires in their case (transfers of bribes in and out of US banks) was “essential” to their scheme. On that issue, the Court easily determined that the wires were essential: at least $2.4M of Marin’s payments were sent to his New York bank account and $2.5M of Napout’s were paid in US dollars generated by wire transfers originating in the US.

Implications for Participants in MDB-Financed Projects

The decision in Napout is relevant to MDB-financed projects as it clarifies the breadth of the honest services wire fraud statute and shows the ease with which US prosecutors can use it to target conduct that occurs almost entirely abroad.

The “honest services” variant of wire fraud is somewhat unique to US law and it is not universally recognised: a main piece of Napout’s defence, for instance, was that honest services bribery in a commercial context was not illegal where his conduct took place.  But in the Second Circuit’s view, this fact was largely irrelevant.  The Court ruled that the men had violated the statute by knowingly violating their duties to FIFA under the organisation’s code of ethics.

So, what does this mean in practice?  The Napout decision confirms that the reach of US anti-corruption efforts extends far beyond the bounds of the FCPA; which applies only to bribes paid to “foreign officials” by US issuers, domestic concerns or their agents.  Using an approach based on honest services fraud, all that US prosecutors need in order to have jurisdiction is for an “essential” US wire to be used in the scheme.  As several of the main MDBs are based in the US – including the World Bank and Inter-American Development Bank – a fraud or corruption scheme involving MDB money could easily make “essential” use of a US wire transmission; thus rendering the offenders subject to possible US prosecution.

This is an important point for companies and individuals participating in MDB-financed projects to keep in mind: even if commercial bribery is legal (or at least widely accepted) in the country where the project takes place, if the ultimate funding is flowing from the US then extreme caution must be taken to ensure that US wire fraud statutes are not violated.  This is particularly critical for projects taking place in developing countries where accepted business practices have not yet caught up with norms elsewhere.

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