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Brexit: UK services are losing out to EU rivals – but Asia could be big winner

"Seven months after Britain’s exit from the EU, the chilly effects on UK trade are being felt. Total exports of UK goods and services were down by 13% (£36 billion) and imports down 22% (£66 billion) for January to May 2021 compared to the same period in 2019." Professor Jun Du, Aston Business School Singapore looks like one of the big winners from Brexit. joyfull In a separate new ONS report into UK services, exports and imports fell 12% and 24% in the first quarter of 2021 compared to the same period in 2019. To some extent this is due to the pandemic, but the decline with EU countries was more severe (exports down 15% and imports by 39%), which suggests Brexit was relevant too. The difference between services exports to EU and non-EU countries was particularly marked in sectors like construction (-43% vs +24%), maintenance and repair (-62% vs +11%), and manufacturing services (-40% vs -12%). It seems to confirm that the UK’s services offering has been made less competitive by the EU-UK Trade and Cooperation Agreement hardly covering such business. This has left EU members free to decide whether to allow different UK providers into their markets. But as we shall see, other services exporting countries outside the EU may also benefit as a result. In our recent paper, Ireland looked like the big winner. It has probably benefited from firms relocating and business being re-routed from the UK, not to mention low corporation tax and a young well-educated workforce. Between 2016 and 2019, Ireland’s services exports rose 24% (that’s €144 billion or £123 billion), driven by financial services, IT and transport. Speculation still abounds about which other EU cities will benefit in the medium term. Amsterdam surpassed London as Europe’s largest share-trading centre in January by absorbing much trade in euro-denominated assets, though London has been back on top recently. Other potential winners include Frankfurt (banking), Luxembourg (banking and asset management) and Paris (financial, professional and business services). Even a less serious contender like Berlin can attract tech talents thanks to its culture clusters and affordability. On the other hand, most financial traders have so far remained in London. The city is still strong in hosting stock market flotations and other forms of capital raising. And the flow of financial jobs out of London has been a fraction of what remainers predicted. A four-year regulatory transition period for areas like data protection and electronic trade will undoubtedly be helping. London vs EU rivals is only half the story. James Padolsey/Unsplash, CC BY-SA Yet all this misses a bigger picture, namely that Europe’s ability to provide services may have been weakened overall. Imagine a group of US investors wants to invest £1 billion in European shares and other financial assets. In the past it might have set up a fund in London, making use of the city’s network of lawyers, accountants, bankers and other finance professionals, while filtering some of the work to specialists in, say, Paris and Frankfurt for issues related to France and Germany. But now Brexit means the fund can’t invest in certain EU securities from London. The investors would have to set up a second fund in, say, Dublin to get exposure to all the EU assets they want. The additional expense and time involved makes them decide it will be more lucrative to set up an Asia-focused fund in Singapore instead. When you multiply this effect across every sector, it is potentially huge. Certainly some investors will decide to either switch attention from the UK to EU countries, or to live with the extra cost of doing business across both the UK and EU. But others are deciding that an opportunity somewhere else in the world now looks more attractive. The danger is that this adds up to a global shift in economic weight over time. In fact, we could be seeing signs of this already. Winners and losers In follow-on research that we have yet to publish, we have been analysing the services exports of the major service providers in Europe and globally, using trade data jointly collected by the World Trade Organization (WTO) and the Organisation for Economic Cooperation and Development (OECD). The data shows the UK was and is the biggest services exporter in Europe and second only to the US worldwide, but appears to have been losing ground since Brexit. Ireland and the Netherlands are the major growth stories in Europe, while China, India and Singapore are leading the way elsewhere. Services exports by country, 2019 vs 2015 Trends in services exports. Left: 2015 data in solid coloured bars; 2019 change in yellow markers. Right: Green bars represent accelerating service growth; red bars represent decelerating growth. BaTIS The UK’s services growth trend fell 11% in the 2016-2019 period compared to 2010-15. This backs up our recent published research finding that the UK’s global share of exported services fell from 8.9% in 2005 to 7% in 2019. Meanwhile, France, Spain, Italy and Belgium’s growth has also been declining, while Germany, the Netherlands, Switzerland, Luxembourg, Austria and also the US were static. Ireland was the fastest growing services exporter among all, but Singapore and India gained momentum too. Strikingly, we see increasing growth in Asia between 2016 and 2019 in sectors like travel, financial, IT and creative services. This includes extraordinary growth in Singapore in finance, business, insurance and pension provision, and also in China in numerous segments. It looks like nothing short of a boom. Shanghai has been on the up and up. Krzystsztof Kotkowicz, CC BY-SA This may partly reflect the industrial transformation taking place in the Asian developing world from manufacturing to services. It may also capture a long-term shift of services centres from the west to the east – a reshuffle on a truly global scale. But at the same time, it’s evidence that Brexit has weakened the UK as the European centre for services. Yes, business shifted to Ireland (and Luxembourg) to some extent, but that could be hiding a wider collective setback. The question for the years ahead, for the UK and its European services peers, is whether they can come up with arrangements that help maintain their collective strengths – and to what extent they can exploit opportunities elsewhere, particularly on developing countries, where US services providers have traditionally been far ahead. This article was co-written by Professor Jun Du and Dr Oleksandr Shepotylo.

How to find a job in Canada and position yourself as an ideal candidate

Whether you’ve just received your Confirmation of Permanent Residence (CoPR) or have recently moved to Canada, finding employment and getting back in your field of work is always top of mind for many. As you begin your job search in Canada, there are a few things that are must-haves: A Social Insurance Number (SIN) – A nine-digit number that you need to work in Canada or to have access to government programs and benefits. Credential assessment for occupations such as teachers, accountants, medical professionals, engineers, social workers, etc. Credential assessment is a process through which you can get certified, registered, or licensed to practice your occupation in Canada. A Canadian-style resume and cover letter. Remember to customize your resume for each job application. Tip: To learn about the scope of your role in Canada and get deeper insights into specific job markets such as Information Technology (IT), Finance, Sales and Marketing, Project Management, Healthcare, Human Resources (HR), and others, download Arrive’s free guide for the Canadian job market. Once you’re equipped with these basic tools and resources, you’re ready to start looking for relevant opportunities. Here are a few ways you can get started with your job search in Canada. 8 ways to find a job in Canada 1. Browse job search websites Most job seekers use job search websites as the starting point while looking for opportunities. In Canada, many locally-popular sites provide more than just job listings. You can get access to employment trends, salary trends, career-planning tools, and industry information. The Canadian government’s Job Bank website is one such exhaustive resource. It is a job-listing aggregator so it pulls listings from multiple job sites which makes it convenient to browse opportunities. You can also check the provincial and territorial websites for more newcomer employment resources. What are the best job sites in Canada? Some popular job search websites are: LinkedIn Jobs, Indeed, Monster, Glassdoor, Workopolis, CareerBuilder, and SimplyHired. If you’re looking for freelancing opportunities or remote work, sites like UpWork, Fiverr, Jobboom, Jobillico, and Jobspresso are good options. 2. Network and volunteer One of the things to know as a job seeker is that Canada has a hidden job market. The hidden job market refers to positions that are filled without the employer advertising for it publicly. It is said that as much as 65-85 per cent of the jobs are not posted online. This is why networking is crucial to finding relevant opportunities – and LinkedIn is an excellent tool to get you started. You can use websites like Eventbrite and Meetup to locate industry-specific networking events near you. These events are excellent forums to find people from your field of work and strengthen your professional network. Giving back to the community (or volunteering) is usually well-regarded and valued in Canadian society. It can help you gain Canadian experience and learn the local culture and serves as a good way to meet other people and build your network. Tip: Volunteering can help you build your network and earn Canadian experience. To discover the importance of volunteering in Canada and learn how to find volunteering opportunities, read The benefits of volunteering as a newcomer in Canada. 3. Enrol with immigrant-serving organizations In Canada, there are various government-funded organizations such as ACCES Employment and COSTI that help newcomers find employment. Some are province and city-specific, so you can look up the government website to find one closest to you. These organizations help newcomers with a wide range of online and in-person career services such as resume building, interview preparation, language assessment, and finding a job. 4. Attend job fairs Many immigrant-serving organizations also organize job fairs. Some of these fairs are virtual and span a couple of days, while others are in-person events. Prepare for Canada, and JVS Toronto are organizations that do online job fairs periodically. One of the benefits of enrolling with a government-funded settlement organization is getting alerts for these job fairs. Following the social media channels for these organizations and browsing sites like Eventbrite and Meetup are also good ways to find upcoming job fairs. 5. Reach out to employment agencies and recruiters There are many employment agencies and specialized recruiters that can help you find a job in your field in Canada. These agencies and recruiters match jobseekers to employer positions. You can search for recruiters from your industry on sites like LinkedIn. Recruitment agencies in Canada may be nationally and/or internationally licensed. Those with a national license are only authorized to assist job seekers within Canada, while those with an international license can recruit overseas employees wanting to work in Canada. Who are the top recruitment agencies in Canada? Some popular employment agencies in Canada are Robert Half, Randstad Canada, and Hays Canada. Employment/recruitment/placement/staffing agencies cannot demand a fee from a jobseeker to help them find work. However, they can charge for additional services such as resume preparation, interview preparation, and job skills training. Tip: Beware of any employment agencies or recruiters asking you to pay a fee in exchange for a job offer, especially if you haven’t moved to Canada yet. Learn more about employment scams in Canada in the article, Common scams that newcomers to Canada should know about. 6. Browse career sections on company websites A good way to go about your job search is to make a list of organizations you would like to work at and then check the career sections on their respective websites. Most websites will let you send a job application for open positions directly through their site. Reach out to current or past employees through LinkedIn for a coffee chat to better understand the organizational structure and learn more about your desired role – this will also help you prepare for your interview. These conversations are also a great way to know about future job openings at the organization. Tip: Check out the list of top 100 employers in Canada and find organizations from your industry. 7. Enrol in bridging programs Bridging programs are designed for internationally-trained professionals and tradespeople who want to work in their field in Canada. They can help you get a licence or certification and integrate into the Canadian workplace. Some of the bridging programs’ services include courses, education and skills assessment, practical or workplace experience, exam preparation for licenses or certificates, language training, and action and learning plans to help you identify the training you may need. These programs may be virtual, or in-person or a combination of both. Usually, classroom training or work experience is part of the program. Depending on the bridging program you choose, there may be a fee associated with it. Contact a newcomer settlement agency near you or check local university or college websites to learn more about enrolment processes and eligibility criteria for specific bridging programs. 8. Look for a mentor Many Canadian professionals and industry leaders provide free advice and coaching to newcomers settling in Canada. This is a good way to learn how to adapt your skills and experience for the local job market and find relevant opportunities. You can look for a mentor through organizations like: Immigrant Services Association of Nova Scotia (ISANS) Calgary Region Immigrant Employment Council (CRIEC) Toronto Region Immigrant Employment Council (TRIEC) Edmonton Region Immigrant Employment Council (ERIEC) Ottawa Community Immigrant Services Organization (OCISO) How to position yourself as an ideal candidate and get a job offer The job market in Canada is competitive. Once you’ve identified a job position that’s a good fit for your skills and experience, it’s time to stand out from the crowd and market yourself as the ideal candidate. Positioning yourself as a strong candidate to an employer begins with building your personal brand. Here are a few other aspects to keep in mind as you prepare for a job application. Be confident and tell your story Practise responses to basic interview questions and have an elevator pitch so you’ll be more confident during the interview. Elevator pitches are a good way to introduce yourself and make an impression at the start of an interview. They can also serve as an answer to the “tell me about yourself” question. Think of your achievements and use specific examples or stories to demonstrate how you are a good fit for the role. Job interview resources: How to prepare for a job interview 10 common job interview questions and how to answer them The interview process in Canada may seem nerve-wracking. Prepped is an excellent resource for you to practise your interview skills and confidently prepare for the interview process. 6 Tips for improving your job search in the Canadian market 1. Customize your resume and add a cover letter A generic resume and cover letter sent to multiple employers may not yield much success in your job search journey. Be sure to customize your resume to each position that you’re applying for by tailoring your work experience, skills, and any additional information to the role. The cover letter is a good way to justify any gaps in your resume or provide any additional info that your resume can’t. Adding a custom, well-written cover letter to your resume can make you stand out from the competition, thus improving your chances of being approached for an interview. 2.Research the company and the role Be sure to research the company you are interviewing with – this will help you have more meaningful conversations with the employer and ask relevant questions. Look up the company mission, vision, some of its history, and market standing. Align your responses to the organization’s goals. Candid reviews on sites like Glassdoor can help you get insight into the operations and culture of the company. Get the names and titles of people who will be interviewing you and learn a bit about their background – this information can come in handy while making small talk with interviewers. Network with current or past employees through LinkedIn to learn more about the company and identify their needs – it will help you suggest potential solutions during the interview. 3. Polish your LinkedIn profile In Canada, it is common for employers and recruiters to search your name online. Brush up and polish your LinkedIn profile so that it’s up-to-date with your experience and qualifications. Also, ensure your social media or blogs don’t raise any red flags about you or portray you in a negative light. 4.For virtual interviews: Check your connectivity and surrounding environment With the coronavirus pandemic, many organizations have their employees working remotely. There is also a growing trend of candidates being interviewed virtually or over the phone. With this new setup, it is essential to showcase soft skills such as self-motivation and communication and demonstrate your comfort level using technology to connect. Be sure to check your phone reception, internet bandwidth and hardware or software requirements to ensure a smooth audio/video call for your interview. Avoid taking such calls from a coffee shop or a place where background noise levels may be high. 5.Be punctual and dress for the job you want Whether it’s a virtual or an in-person interview, make sure you’re punctual and dress for the job you want. For in-person interviews, plan your journey beforehand and consider the traffic and weather conditions. With the dress code, you can never go wrong with formals – this applies to in-person as well as virtual interviews. 6.Follow-up after the interview After the interview, take the time to send a thank you note to each of your interviewers. While this reflects your enthusiasm for the position, it also ensures the interviewer remembers you while deciding whom to hire. Finding meaningful employment in Canada can take anywhere from a few weeks to a few months. Preparation, persistence, determination, a positive attitude, and access to the right resources will help you find relevant opportunities. Original article located here, published by Arrive.

How to rent an apartment with no credit history or job letter in Canada

For the first few months or even a couple of years, most newcomers moving to Canada consider renting accommodation versus buying property. As an essential and high priority task, this often turns out to be challenging as in addition to the rent deposit, landlords usually ask for an employment letter, a credit report, and references. And with just having moved to Canada, newcomers often aren’t able to meet these additional requirements. So, as a newcomer, how can you find permanent accommodation in Canada with no credit history and no job offer letter? In this article, we will share a few tips and workarounds on how to position yourself as a reliable tenant so you can find a suitable place for you and your family. Moving to Canada soon and looking for more tips on renting a place? See How to rent your first home as a newcomer in Canada. To build a stronger case as a reliable tenant, you can try combining as many tips as you can from the ones outlined below 8 tips to find a rental unit without credit history and job letter in Canada 1. Provide proof of savings from a bank account You can demonstrate your reliability as a tenant by showing proof of savings to cover a few months of rent. To do this, you don’t need to provide a detailed bank statement. Speak with your banking advisor to know your options; it may be possible to obtain a letter indicating that you are in possession of the funds to pay the rent. Moving to a new country comes with many challenges. Book an appointment with an RBC Advisor or call 1-800-769-2511 to find answers to any financial questions you may have. RBC’s phone services are available in up to 200 languages. Once you have your appointment booked, an advisor will reach out to check whether you’d like to meet via phone, video or in-branch. 2. Provide a local guarantor or co-signer A guarantor or a co-signer is someone who agrees to pay rent on your behalf if you are not able to. Being a guarantor or co-signer is legally-binding, and usually, only close friends or relatives will agree to act as a guarantor for you. You should also consider the impact on your relationship with them should you fail to hold up your end of the bargain. 3. Look for house-share or apartment-share arrangements You can try to find a shared accommodation by – Subleasing from an existing tenant; or Co-signing the lease agreement with a roommate who has a good credit history; or Leasing from a landlord who lives in the same apartment or house. What is a sublease? A sublease allows you to rent a room from the original tenant of an apartment. Rent payments are made to the existing tenant who, in turn, pays the landlord. Generally, rooms that are subleased by tenants don’t require you to provide a credit report or employment letter. This may differ from place to place and depends on the urgency of the tenant who is subletting. In Canada, many people seek out roommates for their living arrangements. Instead of signing a sublease with the existing tenant, you could explore the option of co-signing the lease with a roommate who has a good credit history, to meet the credit history requirement. Landlords renting out a room in their own house or apartment may be willing to overlook the requirement for credit history and/or employment letter. You can start your search by looking for shared accommodation listings on sites like Kijiji, Craigslist, and some provincially popular options like Home Zone on Facebook (for Toronto and GTA listings). Tip: Sites like Kijiji and Craigslist tend to have many scammers. If a listing seems too good to be true, it’s probably a scam. Do not make any payments until you verify the place in-person and sign the appropriate paperwork. 4. If you can, offer more than expected deposit Each province in Canada has legal guidelines on rent deposit payments to be made by tenants before moving in. For example, in Ontario, renters are required to pay first and last month rent; there’s no security deposit. But in British Columbia, you will be required to pay a security deposit equivalent to half the monthly rent. In the absence of a credit report and employment letter, you can offer the landlord a few more months of rent upfront – this can be a huge incentive for the landlord to accept your application over another. Remember, the landlord cannot legally ask you for any additional amount beyond the specified norms. So be sure to check the guidelines for the province you are moving to and accordingly present your offer to the landlord. 5. Explore condos rented out by individual owners It can be relatively easier to find a condo or apartment that’s owned by individual landlords versus those that are owned by property management firms or large institutional investors. The application process for apartments located in rental buildings is usually very strict and offers little to no flexibility in terms of credit and employment verification. However, in a condo setting, most landlords are individuals and might be open to accepting you as a tenant, subject to your reliability. 6. Consider neighborhoods that are away from prime locations Finding a place in the heart of the city or the city centre is usually challenging even for those who have credit history and employment records to show. Broadening your search and considering the suburbs or neighbourhoods that are on the radius of the city may prove helpful in finding a suitable place. While you do this, if you don’t have a car, keep a close eye on public transportation and commute time to the city centre. 7. Book temporary accommodation for the first couple of months If you have friends or family already residing in Canada and they’re open to hosting you, it may be a good idea to plan your stay with them for the first few months. For those who cannot leverage this option, you can try booking long-term stays at an Airbnb, a hotel, or a hostel. Hostels in Canada are clean, secure, and extremely budget-friendly; some even provide free breakfast. Often, you’ll be able to choose between staying in a mixed dorm or a male or female-only dorm. Some hostels also provide private rooms at a higher cost. Try exploring sites like HostelWorld, HI Hostels, Booking.com, or Kayak to find good deals. If you are moving to Toronto as a single young professional, you can now skip the temporary accommodation part entirely and book a SoulRoom. Get a fully furnished room in one of the great locations in the city, at an affordable price. All rooms at SoulRooms come at a minimum six-month lease and are ready to live, equipped with high-speed internet, cable and utilities with shared living spaces. Just unpack your bags and be at home! Some landlords are willing to rent to tenants with a two or three-month credit history. Booking or arranging temporary accommodation for the first few months will give you a couple of months of time to build your credit. For a deeper understanding of how to build your credit, download Arrive’s guide onCredit and credit scores in Canada. How to obtain a credit report It takes at least a few weeks to a month for newcomers to receive their first Canadian credit card and a few additional months of credit transactions to generate a credit history. EQUIFAX and TransUnion are the two major credit rating organizations in Canada, and you can choose either one to get your credit report. Detailed instructions to obtain the report are available on the respective websites. 8. Take up a survival job and/or volunteer Survival jobs are lower-skilled jobs where significant education or extensive professional experience is usually not required. For example, working as a driver with a ride-sharing service, warehouse or factory worker, cashier at a grocery store, barista at a coffee shop, food delivery person, sales associate, telemarketing associate, cleaner, or a server at a restaurant. Volunteering is an integral part of Canadian culture, and giving back to the community is usually well-regarded and valued in Canadian society. It involves giving personal time freely for the benefit of another person, group, or cause. Both survival jobs and volunteering are good ways to earn Canadian experience, practice your language skills, build your network locally, and gather references for your rental application. Survival jobs will also provide you with an employment letter and cover basic living expenses while still allowing you to continue looking for your desired role. Helpful articles: Taking up survival jobs as a newcomer in Canada: All you need to know The benefits of volunteering as a newcomer in Canada Finding your first long-term permanent accommodation in Canada can be stressful and challenging. Following the tips outlined in this article will ensure you have a place to stay while you build your credit history and find employment. And over time, you will be well-positioned to find a place you can call home! Original article located here, published by Arrive.

Canadian finances 101: What you should know as a newcomer

Canada’s financial ecosystem is made up of banks, credit unions, trusts, and other financial and insurance companies and it is considered to be one of the most sound and safest in the world. According to the Global Competitiveness Report 2019, published by the World Economic Forum, Canada ranked 9th globally for its financial system, showcasing stability and reliability. As you plan your move, familiarizing yourself with the Canadian banking and financial landscape can help provide context to key tasks like opening bank accounts, building credit history, borrowing money, and filing taxes. In this article: Types of financial institutions in Canada Getting started with taxes: The Canada Revenue Agency (CRA) Canada: A credit-based economy Banking, investments, and money transfers What are the types of financial institutions in Canada? Financial institutions in Canada can be classified into three main categories: 1. Banking institutions These are places where you can deposit, withdraw and borrow money. Examples of such institutions include banks, online-only banks, credit unions, trust companies, mortgage companies, etc. Banks A bank is licensed to receive deposits and make loans. Most banks are managed by the national government. The five largest banks in Canada are often referred to as the “big five” in banking. They are: Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC). Sometimes, you may hear the term “big six,” including the National Bank of Canada – although, note that its operations are primarily focused in the provinces of Quebec and New Brunswick. Digital-only banks In addition to these banks, there are a few digital-only banks, such as Tangerine (a subsidiary of Scotiabank), Simplii Financial (a subsidiary of CIBC), and EQ Bank. They provide all services online only and do not have any physical branches. Credit unions A credit union is a smaller financial institution that is owned by its members, who are also typically account holders. They operate under provincial legislation and regulations and provide similar services as banks. The main difference between a credit union and a bank is their structure; credit unions are owned by anyone with money in the credit union. The operations are supervised by a democratically elected board of directors made up of local community members. Due to their scale of operations, note that credit unions may have fewer branches and ATMs than a big bank would. Tip: As a newcomer to Canada, you can choose any financial institution of your choice. However, it is helpful to know that the big five banks (like RBC) have newcomer banking packages that specifically cater to permanent residents and international students and are thus better positioned to assist you in your unique situation. Trust companies Trust companies are legal entities similar to banks that act as an agent (on behalf of a person or business) for the purpose of administration, management and the eventual transfer of assets to a party. Mortgage companies Money lending entities such as mortgage finance companies (MFCs) and mortgage investment corporations (MICs) provide real estate financing. MFCs are non-depository financial institutions that underwrite and administer mortgages sourced through brokers. Their lending is funded mainly through securitization or direct sales to third parties, primarily the big six banks. MICs and other private investors typically deal in uninsured, customized mortgage products that are not available through traditional channels. These products include non-prime loans, second mortgages and very short-term mortgages. Key financial authority: The Bank of Canada The Bank of Canada is the nation’s central bank. Its principal role is to promote the economic and financial welfare of Canada. The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable. It promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives. Additionally, the Bank of Canada also designs, issues and distributes Canada’s bank notes and acts as the “fiscal agent” for the government of Canada, managing its public debt programs and foreign exchange reserves. It also sets the interest rates in Canada. 2. Insurance companies These are entities that sell insurance to cover the risk of loss in various situations, caused due to a variety of factors. They include homeowner or renter’s insurance, health insurance, car insurance, life insurance, and more. They compensate you for any loss that’s covered by your insurance policy. Once you purchase a specific type of insurance, you are required to make periodic payments, called premiums, to the insurance company to avail of the agreed-upon coverage. 3. Investment companies These are organizations that focus on investing, administering or managing funds or money on behalf of other persons. Examples of such companies are investment banks, hedge funds, underwriters, and brokerage firms. Note: There might be an overlap in the services provided by financial institutions. For instance, a leading bank like RBC offers banking services, mortgages, a wide variety of insurance options, investment solutions, and more. Tip: Beware of predatory lenders offering payday, instalment, and other types of loans with very high interest rates. These lenders often prey upon people who need cash quickly and who have run out of all other options. They usually have exorbitant interest rates, confusing and misleading representations, and a lack of transparency and documentation. Therefore, always double-check money lending claims that seem too good to be true. Note that payday loans are provincially regulated while instalment loans are unregulated. What this means is – while interest rates cannot exceed 60 per cent, lenders are effectively free to change terms and add fees and other charges almost at will. Getting started with taxes: The Canada Revenue Agency (CRA) The CRA administers tax laws for the Government of Canada and for most provinces and territories. It administers various social and economic benefit and incentive programs delivered through the tax system. The CRA website is the go-to place for everything related to your taxes: filing annual tax returns, checking receipt of Government benefits and subsidies, viewing tax documents, etc. Important: To register for CRA’s “My Account,” you must have filed a tax return for the current or a previous year. Download Arrive’s free tax guide for newcomers for insights on how to file your taxes and to make sure you’re prepared to manage the expectations that come with paying taxes in Canada. Note: Beware of a long-running CRA scam with callers posing as representatives of the CRA. The CRA will never use threatening language nor ask for information about your passport, health card, driver’s license, or demand immediate payment by Interac e-transfer, bitcoin, prepaid credit cards or gift cards from retailers such as iTunes, Amazon. Canada: A credit-based economy North American countries such as the U.S. and Canada are known to be credit-based economies. This essentially means that most people use their credit cards (instead of debit cards or using cash) to make purchases and then repay the entire amount owed either at the end of their credit card billing cycle or in installments. You will need to build your own credit history, since this is essential to many aspects of life in Canada. Once you receive your first credit card, start by making payments for small expenses such as phone bills or groceries, and be sure you pay the balance in full by the end of the billing cycle. Tip: Keep in mind that credit cards have limits and do not offer free money. They can carry very high-interest rates, so your balance should be managed and paid down promptly – this will help you maintain a good credit rating. A credit score is a way for financial institutions to measure your ability to repay loans. Some scenarios where you may be asked for a credit report are while renting accommodation, applying to certain jobs, and obtaining mortgages or other loans from the bank. Additional resources Download Arrive’s free Credit guide to learn more about credit cards, credit scores, and credit ratings in Canada. For tips on staying debt-free and building your credit history in Canada, read How to build a good credit score from scratch as a newcomer. Banking, investments, and money transfers in Canada Banking Like many other countries, in Canada, you can conduct all your banking and money transfer transactions by walking into a branch or online, through internet banking. See How to open a bank account in Canada as a newcomer to know the process of opening a newcomer account. The article will also provide tips and resources to help you learn more about credit and direct deposits. Investments There are many financial products available to save and invest your money in Canada. They can be broadly classified into savings accounts, registered savings plans and investment products. Depending on your goals and your appetite for risk, you can choose one or a combination of several of these. Read Savings and investments for newcomers in Canada for deeper insights into all available investment products. Money transfers For domestic peer-to-peer payments (think: sending money to a friend, relative, co-worker, or acquaintance in Canada), there are a couple of ways to send and receive money online: Interac and Paypal. Interac is a bank-based tool, while Paypal is a non-bank, third party service. Among these, Interac e-transfers are the most popular and widely used form of peer-to-peer payments in Canada. You can send money overseas through online or mobile banking, by telephone, by email, or in-person. Banks like RBC have a simplified, affordable, and convenient process for international money transfer through online banking. If you have the recipient’s banking information handy, all it takes is a few clicks! Some popular options for international remittances are: Banks Credit unions Money transfer operators like Western Union, MoneyGram, WorldRemit, etc. Peer-to-peer transfer providers such as Transferwise (now, Wise), CurrencyFair, Paypal, etc. Currency exchange businesses When sending money overseas, the Canadian federal government tracks large sums (over $10,000 CAD) through Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to prevent money-laundering, terrorism funding, and related crimes. Understanding financial products and regulatory agencies in Canada can make you feel overwhelmed. Start with the basics so you can build awareness and a strong foundation to manage your finances in Canada. Original article located here, published by Arrive.

Ask the Expert: How to make agriculture more sustainable

MSU’s Bruno Basso outlines key steps the grain industry can take — with public support — to reduce its greenhouse gas emissions by more than 70% over the next decade Michigan State University Foundation Professor Bruno Basso has long been a believer in the power of digital agriculture. For years, he’s worked to show how emerging digital tools and technologies — things like drones, robotics, satellite imagery and computer models of soil and plant growth — can help farmers promote sustainability without sacrificing profits. Now, in addition to belief, he also has concrete numbers. Basso, an ecosystems scientist in the College of Natural Science and the W.K. Kellogg Biological Station, has helped outline how America’s grain industry can shrink its carbon footprint by 71% by 2030. The team — which included researchers at Duke University, the U.S. Department of Energy’s Argonne National Laboratory and Benson Hill, a sustainable food technology company — published its findings online on June 21 in the journal the Proceedings of the National Academy of Sciences. Basso, who recently won a $250,000 award for sustainability innovations, sat down with MSUToday to talk about how farmers can achieve those reductions and how the public can help. The full article is attached and well worth the read.  Basso tackles tough questions such as: How big is this problem? How much of our greenhouse gas emissions come from agriculture? Your new paper focuses on grains in particular. How big of an emitter is grain production, especially compared to other ag sectors such as livestock, which tends to get more attention? You talked about getting a 23% reduction by better management of fertilizer. How do we get to a 70% reduction by 2030? What are the obstacles that we need to overcome by 2030? Are you a journalist looking to cover this topic - then let us help. Bruno Basso is available to speak with media, simply click on his icon now to arrange an interview today.

Aston University cyber security experts shape government policy around resilience of supply chains

"Cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management" Professor Vladlena Benson, Aston University Researchers from Aston University’s Cyber Security Innovation (CSI) Research Centre have been invited to respond to the call for evidence by the Department for Culture, Media and Sport (DCMS) The centre works with businesses to help improve resilience to cyber attacks It comes after a series of high-profile attacks on managed service providers affecting thousands of firms and compromising government agencies. Experts from the Cyber Security Innovation (CSI) Research Centre at Aston University have responded to a call for evidence by the Department for Culture, Media and Sport (DCMS) on cyber security in supply chains and managed service providers. The CSI centre works with businesses to help improve their security posture and develops state-of-the-art solutions for supply chain resilience and business continuity. Recent research1 from the centre explored organisational approaches to supply chain management in the West Midlands, specifically in the times of remote arrangements and when traditional business continuity practices in supply chain management have been challenged. It comes as two high profile attacks (SolarWinds and Kesya) on managed service providers threatened the world and brought to a standstill credit card processing for major retail chains in Sweden, while US government officials' personal data was compromised. The €6.9m TRACE project, an EU-funded scheme of which Aston University is a key partner, addresses these issues and kicked off on Friday 9 July 2021. Professor Vladlena Benson, director of the CSI at Aston Business School, recently attended a round table by the Minister of Digital Infrastructure. She said: “Based on the conclusions of our research, we make a recommendation that cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management. “The identification and promotion of synergies between cyber security, profitability and productivity is a strong driver to ensure that, at a senior level, organisations take responsibility and accountability for effective cyber risk management. Dr Donato Masi, from the CSI Centre at Aston University, said: “Profitability or productivity are close to the competitive advantage of the firm and security of the supply chain of any organisation underpins its longevity on the market it operates in. “Investment in cyber security measures, including supply chain risk assessment and counter-threat controls, should be viewed as a ‘cost of doing business’ and business success and/or longevity.” 1Find out more about the research of the CSI Centre here

Social Class At Work

Social class has a significant role to play in career success in the United States. A growing body of research is shedding disquieting light on the extent to which working class Americans face discrimination in recruitment, pay and promotion – despite having a college degree. This demographic is up to four times less likely to get hired, 34% less likely to accede to leadership roles, and earns around 17% less on average than counterparts from middle or upper-class backgrounds. But while research is starting to document how class can impede or accelerate professional success, it remains unclear why these discrepancies exist. What are the mechanisms or dynamics at play that make it so much tougher for working class people to succeed than others? Goizueta Business School Assistant Professor of Organization & Management Andrea Dittmann has an interesting hypothesis. She believes that employees from different backgrounds can bring inherently different strengths and weaknesses to the workplace; advantages and disadvantages that speak to certain norms governing how we think about work and leadership. And it boils down, she says, to the way we work with others. “People from working-class backgrounds—those with blue-collar parents, who might be the first in their family to get a college degree—typically relate a certain way to other people. They are better connected to others, more team-like in their approach, than their middle-class counterparts who see themselves as more independent or unique,” says Dittmann. This team spirit could be working against lower-class employees, she says, in the sense that they see themselves or are perceived by bosses as being less adept at working autonomously or as individuals within organizations; and are therefore viewed by others as less poised to advance into roles of greater responsibility. On the flip side, this very capacity to work well with other people could actually give working class employees an advantage in team-based activities or cultures; an advantage that might translate into concrete benefits for organizations. To put this to the test, Dittmann conducted a series of studies aimed at unpacking how individuals perceive themselves within the context of work, and at the interactions that occur between employees and the workplace. Among these studies were qualitative interviews with MBA students from different social class backgrounds about their experiences navigating white-collar workplaces after graduating from college. She also ran a number of experiments to assess how well working-class people performed in teams and individually, and how environments that prioritize collaborative dynamics or interdependence might produce better experiences and outcomes for employees than environments geared to working individually or independently. A full article detailing Dittmann’s work is attached here and offers very compelling research showing how social class plays out in the workplace. It covers important aspects such as: The Catch-22 of Working Well with Others “It’s a kind of catch-22. Working class kids don’t make it into the gateway settings of school or college as much as middle-class kids in the U.S. They are significantly underrepresented in leading business schools like Goizueta, at roughly 15% of the student population,” she notes. “So, the higher-educational context—the talent pool for corporate America—is very much geared to a different social demographic and dynamic; one that inherently favors independent work ethics and approaches and sees them as the norm. Other ways of working, collaborating, and contributing risk are being undervalued as much as they are underrepresented.” When Considering Diversity, Companies Stand to Benefit “We know that companies that are more diverse perform better than others, and diversity needs to extend to social class. What my research and others are showing is that people from a working-class background tend towards behaviors that are more relational, that they are better at working together. If they fail to make it into the workforce in a more representative fashion, companies are basically missing out on opportunities to form better teams.” Faculty research like Dittmann’s is a critical element in Goizueta Business School’s drive to develop principled leaders who are better prepared to engage in the business of tomorrow. If you are interested in learning more, then let us help. Andrea G. Dittmann is an Assistant Professor of Organization & Management at the Goizueta Business School. She is an expert in the areas of diversity and inequality, particularly employees' social class backgrounds, aiming to promote equity and inclusion at work. Dr. Dittmann is available to speak with media about this research – simply click on her icon now to arrange an interview today.

Experts explore the gap between research and practice in disaster management

The COVID-19 pandemic has attracted public attention to crisis management globally, writes Aston University's Oscar Rodriguez-Espindola. Although authorities and international organisations are still actively and diligently trying to mitigate the impact of the pandemic, some of the attention is shifting towards understanding the decisions made and learning from our experience. Indeed, this experience has inadvertently shown different areas for improvement for emergency management systems. The experience gained during the pandemic should lead governments and organisations to refine crisis management processes to prepare for challenges ahead. Leveraging research and specialist groups have been essential to support and inform decisions, as these can provide key insights guiding policy decisions. However, the integration of research and practice should not take place at the response stage only, but as part of the core crisis management system at every stage. It is crucial to maintain and strengthen the relationships between research and practice forged during the pandemic for different emergencies in the future. With the increasing number of different disasters happening and the threats stemming from climate change, it is not surprising that between 1994 and 2013 around 1.35 million lives have been claimed annually by natural disasters. Therefore, the value of partnerships between research and practice needs to be strengthened and implemented globally. Academics from Aston University in the UK and the Universidad Autónoma de Occidente in Mexico have investigated the current status of the integration of research and practice for crisis management. A systematic literature review of decision models for humanitarian logistics has been used to understand the way these models have reflected the real conditions experienced by decision-makers and catered to their priorities. Afterwards, interviews with two civil protection authorities of the state of Sinaloa, Mexico, have been undertaken to understand the conditions faced by them for crisis management, their processes and their view of decision models to support crisis management in the country. Next, a multicriteria decision analysis was used to capture their preferences regarding the objectives set for humanitarian operations to develop an analysis of their priorities. Practice needs to be informed by research, but for that guidance to be impactful, research needs to have a thorough understanding of the conditions and challenges faced by practice. The literature focused on models for humanitarian logistics has shown that the engagement of academics with practitioners in the design of solutions to support decision-making has been declared in less than a quarter of the contributions, as shown in Table 1. That means the design of solutions is based on prior secondary information or founded on a theoretical basis, which is not necessarily reflecting the current reality faced by authorities. It is noteworthy that there is an increasing trend in the number of articles involving practitioners in recent years, with more than half of them published in the previous three years. Despite that growth, however, the relative percentage of contributions incorporating practitioners has never been beyond 40% of all the models published in any year, which highlights that there is still a long way to go to support research development. Table 1: Involvement of practitioners in the design of models for humanitarian logistics Our interviews highlighted that authorities perceive the potential of systems to improve information management forecasting and decision-making, but they also unveiled the concerns about these systems providing unrealistic or unfeasible solutions. Optimisation models are formulations in which a metric is maximised or minimised subject to a series of constraints. If the objective does not reflect the objectives and priorities of decision-makers, then results can be less relevant for decision-makers. For instance, models solely aiming to minimise cost would struggle to give useful solutions to authorities focused primarily on providing support to all the victims equally. Therefore, the lack of involvement from decision-makers can lead practitioners to be cautious about using decision-making models. To examine the link between contributions in the literature and the objectives and priorities of authorities, data about them was gathered and analysed using a technique known as Fuzzy-TOPSIS. The purpose was to identify the importance given to different objectives by authorities for different activities in order to rank them based on importance as shown in Table 2. Although humanitarian logistics are characterised by a focus on the overarching ideas of saving lives and reducing suffering, it is still surprising to note that cost was the least important objective for authorities. Conversely, more than three-quarters of the models surveyed are using cost as the main objective function, which makes it the most prominent objective in humanitarian logistics. As preferences from authorities seem considerably more focused on maintaining a reliable flow of support, with high levels of service and ensuring to reach the most affected population, our findings suggest a misalignment between research and practice. Hence, neglecting to incorporate practitioners in decision-making models for humanitarian logistics can lead to omitting their needs and priorities, rendering the models less effective to provide workable solutions. Table 2: Ranking of objectives from civil protection authorities Additionally, it is important that research guides and influences practice in relevant aspects for further development. For instance, understandably, the chaotic and urgent conditions faced by authorities in humanitarian logistics force them to prioritise response over any other considerations. Our interviews confirmed this, as they mentioned that even though sustainability is becoming a crucial element in regular times, it is undermined by the urgency of the response and only included in recovery activities. This is an aspect worth looking into because research has shown that sustainability can be integrated into crisis management, even with the potential to provide improvements in terms of efficiency. Hence, a more thorough integration between research and practice would allow to positively influence activities on the field based on findings and results proposed and tested by cutting-edge investigations. Overall, our findings suggest that despite the increasing remarks about the intention of joining research and practice, there is still a significant divide between them. Reducing that divide can be beneficial for both sides. More practice-informed research can allow to development of feasible solutions that can enhance the support provided to disaster victims in practice, whereas more research-informed practice can provide stronger foundations for effective decision-making and guide research to focus on key aspects to make it more impactful. Therefore, it is essential to put more emphasis on integrating research and practice from the roots, to make their interaction more fruitful. Current trends seem to be going towards that direction, especially with the current focus on the impact on research, but further efforts are required to motivate researchers and practitioners to work together to improve crisis management. This article was co-written by Oscar Rodriguez-Espindola, Pavel Albores, Hossein Ahmadi, Soumyadeb Chowdhury, Prasanta Dey from Aston University and Diego Chavira and Omar Ahumanda from the Universidad Autónoma de Occidente. This work was supported by an Institutional Links grant, ID 527666998, under the Newton UK-Mexico partnership. The grant is funded by the UK Department for Business, Energy and Industrial Strategy and delivered by the British Council. For further information, please visit www.newtonfund.ac.uk

ADHD in adults: what it’s like living with the condition – and why many still struggle to get diagnosed

Many of us think of ADHD (attention deficit hyperactivity disorder) as a childhood condition – which is typically when it’s diagnosed. But a growing number of people are sharing their experiences of being diagnosed with ADHD in adulthood. Social media has even played a role in this, with reports of people going to see their doctor after first learning about symptoms on TikTok. In fact, around 2.5% of adults are thought to live with ADHD – including us. Yet despite this growing awareness, many adults continue to struggle to get a diagnosis. ADHD is a genetic neurodevelopmental disorder, in which the brain grows differently, lacking action from specific chemicals involved in pleasure and reward. This means ADHD brains often search for ways to stimulate these chemicals, which is why people can experience inattentiveness, hyperactivity and impulsivity. Common traits of ADHD include: Not following through on longer tasks (or not starting them) Getting distracted by other tasks or thoughts Seeking out risk or activities that provide immediate reward Restlessness (either outwardly or internally) Interrupting other people (without wanting to) Symptoms are similar for both adults and children, although elements of them differ or change as we age. For example, inattention is the most persistent symptom in adults. ADHD can be debilitating and is associated with higher likelihood of lower quality of life, substance use issues, unemployment, accidental injuries, suicide and premature death. In addition, ADHD can cost adults around £18,000 per year because of things like medical care or paying for social support. It’s also commonly associated with a wide range of co-existing conditions in adults. For example, depression is almost three times more prevalent in adults with ADHD. And nearly half of all adults with ADHD also have bipolar spectrum disorder. Around 70% of adults with ADHD also experience emotional dysregulation, which can make it more difficult to control emotional responses. It’s also thought that almost all adults with ADHD have rejection sensitive dysphoria, a condition where perceived rejection or criticism can cause extreme emotional sensitivity or pain. On top of this, adults with ADHD may have poor working memory – such as being unable to remember a simple shopping list – and “time blindness” (the inability to perceive time). Some may also have oppositional defiant disorder, which means they often react poorly to perceived orders or rules. While none of these co-existing conditions are used to diagnose ADHD, they can make ADHD feel all the more difficult to live with. Being diagnosed Getting an ADHD diagnosis as an adult in the UK is notoriously difficult – with reports of some people waiting up to five years. Waiting for a diagnosis is common for adults with ADHD. Roman Kosolapov/ Shutterstock This is because you can only be diagnosed by a specialist psychiatrist. But even with a referral to a specialist, a person has to show clear evidence of almost all ADHD traits, having had these traits since childhood, and that they’re having a serious affect on their life – such as causing issues with work, education, or maintaining relationships. For us, our experiences of being diagnosed with ADHD aren’t all that different from what other adults have gone through. Like many people I (Alex) was only diagnosed with ADHD “by accident” after being referred to an NHS psychiatrist to get help with (what I now know to be) alcohol self-medication. Because of my ADHD, my brain demands quite extreme inputs most of the time. Ironically, I’ve published scientific papers on ADHD and – probably due to a classic ADHD lack of self-awareness – it didn’t cross my mind that I could have it. The “label” has since helped me move away from feeling broken toward an understanding of my behaviour. My main challenges remain prioritising tasks based on importance (instead of excitement) and quite extreme anti-authority behaviour (sometimes called oppositional defiance). I am also a terrible spectator, struggling to attend conference talks or sit still at the theatre – it can feel like physical pain. On the other hand, I (James) was diagnosed pretty quickly because I used a private clinic – though there was still a long wait for medication. Yet I’d known for five years before this that I probably had ADHD, but coped with it well until the pandemic. The added pressure of isolation and increased workload impacted my mental health, so I sought a diagnosis. Now diagnosed and medicated, life is getting easier to cope with – although there are still many challenges every day. I frequently get anxiety about the silliest things, like talking to a friend, but appearing on television is fine. On a daily basis I forget many simple things, such as where I left my keys, or that I am running a bath. I struggle immensely with controlling my emotions and with rejection especially. For example, when no one responded to a joke I made about my ADHD on a senior management messaging group I was tempted to quit my job. I am utterly unable to pay full attention in meetings or seminars and cannot control my impulse purchasing. While there’s a growing recognition of ADHD in adults, many people still live with it undiagnosed for any number of reasons – sometimes even because they’re unaware that what they experience is actually different from other people. Understanding the condition in adults, taking it more seriously as a disorder, raising awareness of it, and investing in services to improve diagnosis times are key. Diagnosis opens the door to treatment, which can have a marked impact on living with the disorder – such as improving self-esteem, productivity and quality of life. This article was co-written by Dr James Brown (Aston University) and Dr Alex Connor (University of Birmingham)

Aston University cybersecurity experts hold key to vaccine passport rollout

Vaccine passports are certificates to establish proof of vaccination linked to the identity of the holder Renowned expert, Koji Fusa, visiting professor at the Cyber Security Innovation Research Centre (CSI), on the project to develop a global database for citizens to use in real-time. The CSI Centre at Aston University say creating a clear framework of rules for digital identities is achievable Leading cybersecurity industry expert, Koji Fusa, has made progress towards developing a framework for the world’s citizens to store their digital identities and access them in real-time. Koji is a Visiting Professor at the Cyber Security Innovation Research Centre (CSI) at Aston University. The idea would see a platform that has the capability to distribute over 200 individual keys to each of the world’s eight billion people. Each key could be assigned to personal information such as vaccine passports. It will work by vaccine administrators sending the vaccination details of each individual to a dedicated server. That server will issue a QR code which will be passed to the vaccinated person as the digital key for access. The passport holder will keep the QR code which enables access to the server to check their own record at any time. The framework would segment private data in a separate database, which can only be accessed with the individual key along with fingerprint, face and voice recognition technology, making it extremely hard for cyber attackers and scammers to hack. Koji Fusa, a visiting professor at the CSI Centre, said: “The current EU Green Pass initiative and World Health Organisation's initiative have struggled to find the solution for private data protection and counterfeit prevention. This proposed system would solve these two challenges. We have a solution that is secure, something that others have failed to achieve so far. “By having a cloud security server which gives unique reference numbers to all devices, technology issues pointed out by The Royal Society* have been solved. “This will be a huge step forwards for digital identification globally. Not only for vaccine passports, but for people’s personal information too. The framework would make everyday life more secure and simpler. Professor Vladlena Benson, an industry-recognised expert in cybersecurity risk management and director of CSI Centre at Aston Business School, said: “I am delighted to be working on this project with Koji Fusa. With his experience, I’m confident this could become the first such system where the authenticity of the vaccine certification instantly can be checked globally, something that can’t be done currently. "This work is aligned to the trusted identities framework proposed by the UK Government and addresses the issues of data sovereignty and individual information privacy."