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America's falling population isn't necessarily bad for the economy, Fisher Investments said. The US birth rate just fell to its lowest level in over 40 years, according to provisional CDC data. AdvertisementAmericans aren't having nearly as many kids as they used to, but that won't be the blow to the US economy that many have feared, according to Fisher Investments. Related storiesBut fewer babies being born isn't necessarily a bad thing for the economy, the firm said. "Yes, falling birth rates could have negative long-run ramifications if a true reduction in human capital and other factors don't offset this.
Persons: , Goldman Sachs, Fisher, Ken Fisher Organizations: Fisher Investments, Service, Centers for Disease, Bank
Fewer construction workers means less — and slower — residential construction, which in turn leads to higher home prices, according to a 2023 report from researchers at the University of Utah and the University of Wisconsin-Madison. Builders and infrastructure projects are in desperate need of all kinds of construction workers, but especially skilled tradespeople. Simonson said that allowing more immigrants into the country to fill construction jobs is crucial. Making the industry more appealing to womenBoushey pointed out that the share of women in the overall construction industry has climbed. The construction industry is also at a disadvantage because most workers can't do manual labor until they retire.
Persons: , Ken Simonson, Kit Dickinson, Dickinson, Ben Brubeck, Maja Rosenquist, Mortenson, we've, Simonson, Brubeck, Rosenquist, Joe Biden, Franklin D, Roosevelt, Heather Boushey, Biden, Boushey, she's Organizations: Service, Associated Builders and Contractors, Business, Associated, Contractors of America, University of Utah, University of Wisconsin - Madison, ADP, , Builders, Infrastructure Investment, Jobs, Economic Advisers Locations: president's, America
Within hedge funds in particular, there has been a war for talent — or a talent bubble, depending on who you talk to — as the biggest funds grow ever larger. Banks, hedge funds, consulting — it's all on the table for Monnier in a chaotic recruiting environment that is unlike the ones he has experienced before. Pros and cons of the buy-sideThe best job market Monnier has experienced was, naturally, before the global financial crisis. Now, the job market isn't as hot, but the number of players interested in his skillset has grown. Average pay at hedge funds was nearly $500,000.
Persons: , Jeremy Monnier doesn't, Goldman Sachs, Joe Leung, Leung, Monnier, Banks, Goldman, Zar Amrolia, Amrolia, he's, eFinancialCareers, they'd, doesn't Organizations: Service, Michelin, Business, Barclays, Deutsche Bank, Monnier, Deutsche, XTX, Barclays — Locations: London, German, Normandy, France, Paris, United Kingdom
Artificial intelligence is on everyone's lips, and that's expected to translate into big bucks for Goldman Sachs, according to CEO David Solomon. He said the bank has been "advising clients on these topics and how to think about potential use cases in their operations." AI's impact on jobsSolomon also explained how, internally, AI could impact its own workforce. "We see enormous opportunities for productivity gains and also opportunities for efficiency," Solomon said, describing how the AI revolution could impact Goldman's human capital. Some firms like Deutsche Bank have been piloting test cases to evaluate the impact AI could have on junior bankers' workflows.
Persons: Goldman Sachs, David Solomon, Solomon, PwC, — Goldman, Goldman, JPMorgan Chase, Reed Alexander Organizations: Business, P Global, Intelligence, Deutsche Bank, Goldman, New York Times, JPMorgan, Global Locations: ralexander@businessinsider.com
Read previewUkraine's ammunition shortages are allowing Russia to be the "alpha predator on the battlefield," a US veteran fighting in Ukraine said. Jackie said that because Ukraine doesn't have enough artillery, Russia has "free reign." Jackie said Ukraine's troops fighting against Russia's invasion are used to fighting with less artillery than the Russians. "We need only suppress Russian artillery and armor," he said. He said that they kept a corridor open for Ukraine's troops to retreat down.
Persons: , Jackie, bloodying, it's, Vlada, Ukraine's pullout, We're Organizations: Service, 3rd Assault Brigade, Business, Ukraine, Getty, White, , Republicans Locations: Russia, Ukraine, Russia's, Russian, Avdiivka, Czech Republic, Europe
Read previewUkraine's ammunition shortages are allowing Russia to be the "alpha predator on the battlefield," a US veteran fighting in Ukraine said. Jackie said that because Ukraine doesn't have enough artillery, Russia has "free reign." Jackie said Ukraine's troops fighting against Russia's invasion are used to fighting with less artillery than the Russians. "We need only suppress Russian artillery and armor," he said. He said that they kept a corridor open for Ukraine's troops to retreat down.
Persons: , Jackie, bloodying, it's, Vlada, Ukraine's pullout, We're Organizations: Service, 3rd Assault Brigade, Business, Ukraine, Getty, White, , Republicans Locations: Russia, Ukraine, Russia's, Russian, Avdiivka, Czech Republic, Europe
Interest in universal basic income has grown due to the pandemic, Elon Musk, Sam Altman, and economic pain. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYet a common question and concern about UBI remains how people spend the money. Related storiesThe Guaranteed Income Pilots Dashboard , a joint project from the Stanford Basic Income Lab and the Center for Guaranteed Income Research, pulls together data from more than 30 pilot programs in the US involving nearly 8,300 participants. GiveDirectly, a nonprofit, is providing universal basic income to 20,000 people across 200-odd royal villages in Kenya over 12 years.
Persons: Elon Musk, Sam Altman, , It's, Karl Widerquist, Fabian Wendt, Rebecca Hasdell, UpTogether, Monique Gonzalez, Stephanie Hendon, Widerqist, Matt Bruenig, Douglas MacKay, Chapel Hill, MacKay Organizations: Service, Georgetown University, Qatar, Stanford, Income, Center, Research, UNC, Chapel Locations: Virginia, Kenya, San Antonio , Texas
Read previewLivongo veteran Glen Tullman's latest venture, healthcare startup Trascarent, is raising a Series D round, Business Insider has learned. The sources said the round values Transcarent at about $2.1 billion. Related storiesIt's been a difficult fundraising environment for growth-stage healthcare startups — and that's reflected in Transcarent's latest fundraising push. Transcarent has raised $298 million to date, last grabbing $200 million in a January 2022 Series C round that boosted its valuation to $1.6 billion. Transcarent also acquired 98point6's virtual care platform in March 2023 to offer on-demand telehealth care.
Persons: , Glen Tullman's, General Catalyst, Leslie Krigstein, Transcarent, Tullman, Teladoc, 98point6 Organizations: Service, General, Business, Catalyst, Human, Ally, Group, Alta Partners, Merck Global Health Innovation Fund, Jove Equity, Ventures, GreatPoint Ventures, Intermountain Healthcare, Rush University Medical, Soda Health Locations: Transcarent
In a job interview, your body language can make or break your chances of landing an offer. This means that, in a job interview, how you speak is just as important as what you say, says Bert Bean, CEO of the staffing firm Insight Global. Bean has interviewed hundreds of job applicants in his 19-year career as a recruiter-turned-CEO. Showing that you are energized and enthusiastic about a role is the top "green flag" hiring managers look for in a job interview, Shekhinah Bass, an executive at Goldman Sachs, told CNBC Make It in August. It's important to note, however, that body language isn't the only way to show your enthusiasm or engagement during a job interview.
Persons: Bert Bean, Bean, He's, it's, Shekhinah, Goldman Sachs, Bass Organizations: Research, Insight, CNBC
The coalition is pushing to replace three current Starbucks board members with its own nominees. The SOC proxy presentation claims the company's board has backed what it calls an "unnecessarily confrontational" strategy with the union. Starbucks said it has not only a new CEO, but with these additions, it has added five new board members in the past year. The proxy presentation targets three current Starbucks board members: Ritch Allison, Andy Campion and Jørgen Vig Knudstorp. Allison, Campion and Knudstorp, specifically, provide "continuity and highly-valuable unique perspectives," the Starbucks presentation said.
Persons: Baristas, Nielsen, Maria Echaveste, Joshua Gotbaum, Wilma Liebman, Daniel Servitje, Neal Mohan, Mike Sievert, Ritch Allison, Andy Campion, Jørgen Vig Knudstorp, Allison, Campion, Knudstorp, Wendy's, Narasimhan Organizations: Starbucks, CNBC, Organizing Center, U.S . Securities, Exchange Commission, National Labor Relations Board, NLRB, Starbucks Corporation, Siren Retail, Service Employees International Union, Starbucks Workers United, Communications Workers of America, United Farm Workers of America, Chipotle, Darden, Restaurant Brands, Yum Brands, White House, Hawaiian Airlines, White, Grupo Bimbo, YouTube, Mobile, SEC Locations: Buffalo, Arlington , Virginia, China, U.S
Russia's economic decline is still in the early stages, according to a London-based think tank. But talk of Russia's economic resilience is misguided, and there are deep-rooted issues that will continue to plague its economy, the think tank said. AdvertisementRussia's robust military spending has been a key factor in propping up its economic growth so far. "Significantly greater isolation and economic degradation is baked into the cake for the Russian economy and people." Russian inflation grew 7.2% year-per-year in January, well above the nation's 4% inflation target.
Persons: , Mark Sobel, Sobel, Brent, that's Organizations: Service, Official Monetary, Financial, International Monetary Fund, Bloomberg, Yale School of Management . Companies Locations: London, Ukraine, Russia, Oilprice.com, Moscow
Read previewWhen it comes to settling down and having children, 26-year-old Bihan Chen views the choice in simple terms: It's a bad investment. Falling birth rates saw China's population shrank in 2022 for the first time since the early 1960s. "When it comes to having children, I don't have a shred of desire, only fear. AdvertisementOthers cited the loss of personal freedom as a key obstacle to having children. Having children remains a deeply personal decision that can't be evaluated by finances alone.
Persons: , Chen, Emily Huang, Huang, Xi Jinping, Xi, Zhu Zheng, haven't, Dudley L, Poston Jr, Rich, we've, Lanjie Wang, Wang, Collin Meisel, might've, Yi Organizations: Service, Business, Women's Congress, Getty, Texas, M University, Weibo, University of Denver's, Center for International Futures, Publishing, University of Wisconsin, Project Syndicate Locations: China, Beijing, Weibo, Xinhua, Japan, Korea, America, Madison
New York CNN —Tesla CEO Elon Musk has a new social media target: Diversity, Equity and Inclusion. Following Musk’s recent critical posts about DEI policies and racial discrimination lawsuits against Tesla, the electric car company has omitted all language regarding minority workers and outreach to minority communities in its 10-K filing with the SEC made January 29. In Musk’s eyes, DEI is “just as morally wrong as any other racism and sexism,” he tweeted in December. And as recently as 2020, Tesla had been publishing its own corporate DEI reports, reaffirming its commitment to the mission. CNN has reached out to Tesla for comment, though the company does not usually respond to press requests.
Persons: Elon Musk, Tesla, , It’s, George Floyd’s, Harvard’s, Claudine Gay, Gonzalo Fuentes, Bill Ackman, Musk, ” Musk, Owen Diaz, Mark Cuban, , Catherine Thorbecke, Nicquel Terry Ellis Organizations: New, New York CNN, Equity, SEC, Bloomberg, Tesla, Black Colleges, Universities, , Asian Pacific Islanders, Minneapolis, CNN, SpaceX, Twitter, Viva Technology, Reuters Billionaire, Harvard, DEI, California Department of Fair, Housing, Fremont, Dallas Mavericks Locations: New York, America, Paris, France, Fremont , California, Fremont, United States, ” Cuban
Asset manager Impax has debuted a new socially responsible investing strategy, allowing investors to support companies with a track record of employee satisfaction. "The market typically ignores culture," said Fairbanks, who worked in sustainable investing for more than a decade before joining Impax. This strategy has evolved into the Impax Global Social Leaders Fund (IGSLX) launched late last year. To rank companies, Impax found relevant data from third-party sources before diving into fundamental research. A look inside the fund There are some stocks in the fund that Fairbanks sees as particularly exemplary of the broader strategy.
Persons: Impax, Amber Fairbanks, Fairbanks, it's Organizations: Impax, Social Leaders Fund, It's, Harbor Capital Advisors, Fairbanks, Nvidia Locations: MSCI
That's according to a new paper that looks at how RTO mandates impact productivity and performance. If RTO mandates are hard to enforce, they probably don't make sense for that workplace. RTO mandates were more common for firms with "male and powerful CEOs." The authors found no significant impact of RTO mandates on stock returns or firm profitability. RTO mandates have divided many offices nationwide, including at leading tech and financial companies.
Persons: , Nick Bloom, RTO, Bloom, Danielle Organizations: Service, Katz Graduate School of Business, University of Pittsburgh, Amazon, Federal Reserve Bank of San Francisco, Stanford, The Conference Board Locations: Glassdoor
According to a McKinsey report from 2022 based on a decade of data, role transitions are inherent in labor markets. The generative AI platform dubs itself a "tutor for learners" and an "assistant for teachers." Meanwhile, nonprofit organization All Star Code had a scholar visualize themselves progressing in their tech career over the next decade by creating a 30-second video using generative AI platform Runway. There lies the ultimate caveat in AI-enabled career transitions. Panetta feels like the human role in hiring — regardless of the qualifications of candidates — will play a potentially bigger role in career transitions.
Persons: Yee, Lareina Yee, Karen Panetta, That's, Panetta, Sal Khan, Bill Gates, Khan, , Bias, doesn't Organizations: McKinsey, Strategic, Institute of Electrical, Electronics Engineering, Tufts School of Engineering, Khan Academy, OpenAI Locations: America
In fact, "data centers are taking a disproportionate amount of incremental capacity being added by electrical equipment manufacturers." Much of the energy data centers consume is used to train AI models as well as to run them. Natural resources, power supply, funding — the necessities that allow for the existence of the data centers — aren't exactly infinite. The company's business took off last year as data centers began to need more electrical equipment capacity and generated more heat. JPMorgan has a neutral rating on GE with a $124 price target, 5.5% below the stock's Monday close.
Persons: Andrew Obin, Stephen Tusa, Obin, It's, TD Cowen, Michael Elias, Tusa, Eaton, hasn't, Elias, I've, Hubbell, repurposing, Martyn Briggs Organizations: Nvidia, Bank of America, JPMorgan, General Electric, Hubbell Power Systems, U.S . Department of Energy, Google, Oracle, Microsoft, Power, Bloomberg, Energy, GE, Dominion Energy, Dominion Locations: Eaton, BofA, U.S, Northern Virginia, FactSet
Technology stocks had a banner year in 2023, but Deutsche Bank thinks there could be even more upside ahead. Although these gains may seem hard to match, Deutsche Bank analyst Brad Zelnick and his team expect software stocks to outperform in the new year. In particular, the analyst listed buy-rated Salesforce and Oracle as his two top picks for 2024. Oracle stock has climbed 3.1% in 2024 , and shares popped 29% last year. ORCL YTD mountain ORCL YTD chart "We see the multiple recovering and the stock steadily making its way out of the penalty box in 2024," the analyst wrote.
Persons: Brad Zelnick, Zelnick, prem Organizations: Deutsche Bank, Software, Oracle Locations: Thursday's
AdvertisementThe annual World Economic Forum just wrapped up in Davos, Switzerland, and talk of artificial intelligence was just about everywhere. AdvertisementPlenty of companies touted their AI wares at the World Economic Forum in Davos this year. Related storiesAt Automation Anywhere, which, as its name suggests, works on automating work, the customer-service team shrank when AI was implemented. Others I spoke to agreed: Many businesses have small-scale AI experiments running, often with promising results so far. These AI projects are expensive, and not every company has the financial or human capital to pursue an ambitious AI strategy.
Persons: Matt Turner, , Sam Altman, Rob Goldstein, copilots, Jason Girzadas, he'd, Oliver Wyman, Deb Cupp, Mihir Shukla, Ana Kreacic, Shukla, Becky Frankiewicz, Lareina Yee, WEF, Satish H.C, Mustafa Suleyman, DeepMind, Kapilashram, Azeem Azhar, Dan Vahdat Organizations: Economic, Service, Tech, Infosys, IBM, Builder.ai, Cisco, Qualcomm, Salesforce, BlackRock, Deloitte, Microsoft, Oliver Wyman Group, Standard Chartered, McKinsey, Huma Therapeutics Locations: Davos, Switzerland
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Pushing back against Google leadersIn response to the most recent wave of cuts this week, Google software engineer Diane Hirsh Theriault took to LinkedIn to vent about Google's leadership. "We're continuing to support any impacted employees as they look for new roles here at Google and beyond," Google said. Though he acknowledged one director followed up with him after the news, he has "harbored a lot of anger and frustration at Google's leadership" over the way layoffs have been handled since January 2023. AdvertisementThat's probably a pretty tough thing to accept for Google workers aggrieved by the layoffs.
Persons: , Larry Page, Sundar Pichai, Googlers, Diane Hirsh Theriault, RSVP, hiZPDomas5, Stephen McMurtry, Kenneth Smith, Gergely Orosz, Smith, Orosz Organizations: Service, Google, Business, Big Tech, LinkedIn, Alphabet Workers, Alphabet Workers Union Locations: Mountain View, New York
CEOs are letting up on the battle to get employees to return to the office full-time, five days a week, according to a CEO survey from The Conference Board. Just 4% of US CEOs and 4% of CEOs worldwide say they will prioritize bringing workers back to the office full time, the survey found. Toward the latter half of 2023, major companies announced they were getting stricter on office work — but notably didn’t announce a full return. An EY US survey of C-suite corporate leaders found that full-time remote work plummeted from 34% in 2022 to just 1% in 2023. The study also noted that hybrid work is “firmly established.”CEOs will have to approach hybrid work at an industry-by-industry level, Scott said.
Persons: isn’t, ” Diana Scott, it’s, Scott, , It’s, Andy Jassy, , Jeanne Sahadi, Jordan Valinsky Organizations: New, New York CNN, Conference Board, UPS, CNN, Amazon, Meta, Labor Locations: New York, United States, Latin America, Japan, Europe
The software-as-a-service provider is "aggressively pursuing our ambition to absolutely be an AI-first company," Chris Bedi, the chief digital-information officer at ServiceNow, told Business Insider. "We know we're early innings, especially with gen AI, but we are pushing on it hard." AdvertisementThe challenge that ServiceNow and all companies face is around fast innovation, "but also we take care of governance, safety, and ethics" around AI, Bedi said. We started experimenting and doing stuff with gen AI super early. I would say underestimating how quickly gen AI would progress.
Persons: , Chris Bedi, Bedi, ServiceNow, they've, It's Organizations: Service, Business Locations: America
And while Wall Street is no stranger to AI and machine learning, recent advances in generative AI have opened up new possibilities. It's still early days, but hedge funds are investing in AI research, human capital, and technology to harness AI's potential and find an investing edge. Millennium Management and ExodusPoint recently hired AI leaders from Bloomberg and Balyasny Asset Management. The executives have worked on Wall Street, in Silicon Valley, and the upper echelons of academia. Here are 11 AI experts to know at some of Wall Street's biggest hedge funds
Persons: It's, ExodusPoint, aren't Organizations: Business, Millennium Management, Bloomberg, Balyasny, Management, Man Locations: Silicon Valley, Wall
Executives don't need to worry about Irrational misrepresenting their company, and participation can open them up to potential inclusion in products such as an ETF, van Adelsberg said. In total, the ETF recently held nearly 150 equities and is benchmarked to the CIBC Human Capital Index. Still, the team noted some challenges in building broader awareness of what human capital is or why it matters. "In this market, what we're seeing is that those companies who have strong human capital ratings are outperforming," van Adelsberg said. "The role that human capital plays in driving future equity performance isn't going down.
Persons: doesn't, Kristof Gleich, , it's, Gleich, , Morningstar, HAPI, David van Adelsberg, van Adelsberg, Eli Lilly, Johnson, Berkshire Hathaway, JPMorgan Chase, they've, It's Organizations: Capital Factor, Capital Advisors, Irrational, ETF, Microsoft, Apple, Nvidia, Meta, Morningstar, Mastercard, Berkshire, CIBC Human, JPMorgan, Securities, Exchange
A sustainability veteran with more than 24 years’ experience, Stangis has built sustainability teams at both Intel and Campbell Soup . WSJ Pro: Do you have a favorite sustainable product or service, that isn’t an Apollo company? In terms of our regulatory reporting, we made some great progress, but it’s also helping and building the tools for our portfolio companies. Stangis: We’ve got data from all of our portfolio companies from surveys of 100-plus questions every year. So our portfolio companies, they’re literally doing sustainability reporting to us, we’re compiling it and then making that public.
Persons: Dave Stangis, Stangis, Campbell, it’s, we’ve, I’ve, , We’ve, they’re, we’re, Rochelle Toplensky Organizations: Apollo Global Management, Intel, Pro, Business, Campbell Soup Company, WSJ, Private Equity, Flagship Fund, Apollo, Rochelle, rochelle.toplensky@wsj.com Locations: Europe, Asia, Paris, Detroit, U.S, Russia, Ukraine, decarbonize, we’ve
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