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Here is a (highly) abbreviated rundown of how US society settled (so far anyway) on an eight-hour workday. The strike failed … but four years later US Steel reduced its workday from twelve to eight hours.”Pioneering employers — and a six-hour workday — make wavesIn 1926, the Ford Motor Company, under the leadership of Henry Ford, famously instituted an eight-hour-a-day, five-day workweek. Kellogg decided in 1930 to institute six-hour shifts in place of eight-hour shifts, with some reduction in workers’ pay. Kellogg’s move attracted national attention, and soon there was a push to federally legislate a six-hour workday. Hunnicutt interviewed several Kellogg workers about why they returned to a longer workday.
Persons: Dolly Parton, ” It’s, wasn’t, Benjamin Hunnicutt, Robert Whaples, Whaples, , Henry Ford, , , Kellogg, Hunnicutt, Kellogg’s, Franklin Delano Roosevelt, FDR, didn’t, ” Hunnicutt, Gen, It’s Organizations: New, New York CNN, University of Iowa, Wake Forest University, Economic, US Steel, , Ford Motor Company, Senate, Industrial, Labor, Fair Labor, Act, Kellogg Locations: New York, United States
Since the dollar index hit a 15-month low and embarked on its current upswing on July 14, Goldman Sachs' U.S. financial conditions index has risen 52 basis points. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsIt is a small sample size, but the exchange rate is becoming an increasingly important factor tightening U.S. financial conditions. But continued dollar appreciation could tighten financial conditions further without the Fed having to raise rates again. The last time they held a net long dollar position was November. Fed economists in June launched a financial conditions index called "FCI-G" - Financial Conditions Impulse on Growth - aimed at measuring the impact of conditions on activity and growth.
Persons: Kim Hong, Goldman Sachs, Jerome Powell, Jamie McGeever, Andrea Ricci Organizations: REUTERS, Rights, Federal Reserve, U.S, HSBC, BULLS, Futures, Reuters, Goldman's FC, Open Market, Thomson Locations: Seoul, Rights ORLANDO , Florida, U.S, Goldman's
For Miyazaki, who painstakingly crafts thousands of hand drawings for a film, it's a long and laborious process. Several of Miyazaki's films rank among the biggest box-office hits ever in Japan; there are few other filmmakers today as revered — and fiercely beloved — as Miyazaki. “I am making this movie because I do not have the answer," Miyazaki told The New York Times in 2021. We are again, invited into a dizzyingly colorful otherworldly fantasy of Miyazaki's making. If this is to be the last Miyazaki movie (it would be unwise to ever really count him out), it's a tremendously moving goodbye.
Persons: Miyazaki's, Miyazaki, , , , Mozart, Guillermo del Toro, Mahito Maki, Soma Santoki, It's, Mahito's mother's, Yoshino Kimura, Mahito's, Masaki Suda, Mei, Mahito, Jake Coyle Organizations: TORONTO, Toronto, New York Times, Twitter Locations: Japan, Miyazaki, Toronto, Tokyo
In July, a federal judge ruled business owners cannot say their race is a disadvantage to receive funding. It challenged the SBA's 8(a) program, which awards money to socially disadvantaged businesses each year. Now, business owners have to write an essay proving why their identity has been the basis of discrimination. The judge's decision struck down a key provision of that program, saying that business owners could no longer say their race is the reason they have faced disadvantage in America. This ruling prompted the SBA to change the process for small business owners to receive funds though the 8(a) program.
Persons: Edward Blum, Joe Biden's, Isabella Guzman, Harris Organizations: Service, SBA, Biden, Harris Administration Locations: Wall, Silicon, Tennessee, America
Rep. John James wants to bar anyone over the age of 75 from serving in Congress or the White House. But James has endorsed Trump, who's currently 77, despite once saying he's "not fit to lead." The second is that James has endorsed former President Donald Trump — who is currently 77 years old and would be 82 by the end of a second term — for president in 2024. AdvertisementAdvertisementAsk by Fox News about how the age limits proposal would pertain to Trump, James reportedly dodged the question, pointing out that the proposal would take years to enact. "You can't watch a video of Feinstein or McConnell or Biden and tell me that everything's OK," James told Fox News.
Persons: John James, James, Trump, who's, John James of Michigan, Joe Biden, Donald Trump —, Mitch McConnell, Democratic Sen, Dianne Feinstein, Feinstein, McConnell, Biden, It's Organizations: Service, Senate, Fox News, Democratic, California Locations: Wall, Silicon, United States, Michigan, America
American economic power is potent but unstable
  + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com   time to read: +8 min
LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.
Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, , Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe
My grandfather, Reizo, is 95 years old and starts every day with a walk around Osaka. I wanted to spend more time with him and learn about the activities that keep him so healthy and happy. Here are his eight non-negotiables for a long and happy life:1. He takes an early morning walk. Since 2014, he has spent a few minutes almost every day writing his thoughts, experiences and insights on his blog.
Persons: He's, they've, Mika Cribbs, It's, Mika Cribbs It's Organizations: Facebook Locations: Osaka, Japan, U.S
Former Speaker Nancy Pelosi defended Senator Dianne Feinstein for remaining in office after a series of health issues, dismissing concerns about Ms. Feinstein’s continued ability to serve as a sexist double standard. Speaking to Politico for an article published Thursday, Ms. Pelosi stressed that the California senator, a longtime colleague and neighbor, was “doing OK” and minimized Ms. Feinstein’s recent fall, for which she was briefly hospitalized, as a “very little fall, it was like nothing.”She suggested that the criticisms of Ms. Feinstein, 90, and questions related to her eventual retirement were gendered. “It’s OK, you know, they can vote, and it’s all they need to do,” Ms. Pelosi, 83, said of the rationalizations offered for male elected officials who have faced age-related health concerns. “And then Dianne comes along and then they’re making such a fuss? It’s a guy thing, but that’s the way the world is.”
Persons: Nancy Pelosi, Dianne Feinstein, Feinstein’s, Ms, Pelosi, Feinstein, Dianne, Organizations: Politico Locations: California
The world’s second-largest economy is grappling with growing financial distress, which means big problems for the nation’s nearly $3 trillion shadow banking industry. What’s happening: Shadow lenders, including trust firms, operate outside of the formal banking system. That’s because shadow banks are not just a problem in China. The key concern, said Towes, is whether Western organizations have loaned to shadow banks and are now vulnerable. Production cuts by OPEC+, which produces 40% of the world’s crude oil, have helped send oil prices higher in recent months, a development that could have repercussions for inflation and interest rates.
Persons: they’ve, , Phillip Toews, “ we’ve, Toews, that’s, Goldman Sachs, Matt Egan, That’s, It’s, , Jan Hatzius, ” Hatzius, , CNN’s Hanna Ziady, Brent, ” Stephen Innes Organizations: CNN Business, Bell, New York CNN, Asset Management, US, IMF, Global, Federal Reserve, West Texas, Organization of, Petroleum, Saudi Ministry of Energy Locations: New York, China, Beijing, Europe, Saudi Arabia, Russia, OPEC
A lot,” Osaka, who won two of her four major championships at Flushing Meadows, said with a chuckle in the Grand Slam tournament’s main interview room. Osaka is a 25-year-old who was born in Japan and moved to the United States with her parents when she was 3. 1-ranked player has said she intends to return to action at the Australian Open next January. I just remember watching the Australian Open and being very devastated, because I’ve never missed an Australian Open,” said Osaka, who won that major twice, too. I might do that.’”Osaka revealed her issues with depression and anxiety when she withdrew from the French Open in 2021.
Persons: — Naomi Osaka, haven’t, Michael Phelps, Vivek Murthy, hasn’t, I’ve, , , Serena, Williams, , ” Osaka, I’m, Phelps, ” Phelps Organizations: U.S, U.S ., Australian, Locations: Osaka, Flushing Meadows, Japan, United States, Tokyo, ” Osaka
5 Minutes That Will Make You Love Max Roach
  + stars: | 2023-09-06 | by ( Marcus J. Moore | ) www.nytimes.com   time to read: +6 min
Listen on YouTube◆ ◆ ◆Joseph Patel, producer of ‘Summer of Soul’Max Roach, “Drums Unlimited”I discovered and fell in love with jazz while in college. From this study, I could put my finger on the records, musicians and lineups at the forefront of change in the genre — and at every step of the way, there was Max Roach. On “Freedom Day,” Max’s drum playing represents a heart dealing with the emotions of becoming a free human being. Listen on YouTube◆ ◆ ◆Brandi Waller-Pace, musician, educator and scholar-activistClifford Brown and Max Roach, “Joy Spring”Few drummers have reached the level of innovation and influence Max Roach did throughout his long and prolific career. “Joy Spring,” recorded with the legendary and tragically short-lived Clifford Brown and Max Roach Quintet, is a jazz classic and a personal favorite.
Persons: , , Abstrutions ”, Stanley Cowell’s, ◆ Joseph Patel, ’ Max Roach, Max Roach, Roach, Abbey Lincoln, ◆ Nicole Sweeney, Lincoln’s, Max, Booker Little, ◆ Brandi Waller, Clifford Brown, Kenny Clarke, Roach’s, Harold Land’s, I’m, ◆ Elena Bergeron, Charles Mingus, Duke Ellington, Mingus, Ellington Organizations: YouTube, Calif, Harlem Cultural, Pace Locations: Davis, Harlem
British Bees Face a Deadly Invasion
  + stars: | 2023-09-06 | by ( Jenny Gross | More About Jenny Gross | ) www.nytimes.com   time to read: +1 min
A sharp increase in the number of an invasive species of hornets in Britain is raising concerns that they could threaten native bee populations. There have been 22 sightings of the so-called Asian hornet, or Vespa velutina, this year, more than in the past six years combined, according to British officials. Smaller than Britain’s native hornet, most Asian hornets are about an inch long and have brown thoraxes, yellow legs and black heads with orange faces. Since arriving in France, the population of Asian hornets has grown rapidly. As of last year, the hornets have been seen in European countries including Germany, Spain, Portugal and Italy, according to the National Bee Unit, a British agency.
Organizations: Secretariat, hornets, National Bee Unit Locations: Britain, Asia, Pacific Northwest, United States, France, China, British, Germany, Spain, Portugal, Italy
Federal Trade Commission (FTC) Chair Lina Khan testifies before a House Judiciary Committee hearing on "Oversight of the Federal Trade Commission," on Capitol Hill in Washington, July 13, 2023. In Lina Khan's two years helming the Federal Trade Commission, her name has been most associated with one company: Amazon . So far, that's largely been because of her viral Yale Law Journal article from 2017, titled "Amazon's Antitrust Paradox." The article made Khan's name ubiquitous in antitrust circles and helped launch her on a path to becoming the youngest-ever FTC chair. That lawsuit is now expected to come as soon as this month, The Wall Street Journal and Bloomberg reported this week.
Persons: Lina Khan, Lina Khan's, Meta, Khan Organizations: Federal Trade Commission, Yale, FTC, Amazon's, Street Journal, Bloomberg, Amazon, CNBC, Journal, YouTube Locations: Washington, Arlington , Virginia
DUBAI, United Arab Emirates (AP) — A Greek shipper has pleaded guilty to a charge over it smuggling sanctioned Iranian crude oil and agreed to pay a $2.4 million fine, U.S. federal court papers seen Thursday by The Associated Press show. In July, the top commander of the Revolutionary Guard’s naval arm threatened further action against anyone offloading the Suez Rajan, with state media linking the recent seizures to the cargo’s fate. In its 2015 nuclear deal with world powers, Iran regained the ability to sell oil openly on the international market. It also began a cat-and-mouse hunt for Iranian oil cargo — as well as series of escalating attacks attributed to Iran since 2019. China is believed to be a major buyer of Iranian oil, likely at a significant discount.
Persons: shipper, Tourkantonis, Mark Wallace, George W, Bush, , ” Wallace, Biden, Suez Rajan, Donald Trump Organizations: United Arab Emirates, Associated Press, Navigation, U.S, Nuclear, Empire, United Nations, Nuclear Iran, AP, Suez, Chevron Corp, Revolutionary, Embassy, U.S . Navy, Iranian, Locations: DUBAI, United Arab, Suez, Islamic Republic, Tehran, Washington, South Korea, Iran, U.S, Nuclear Iran, Persian, South, Singapore, Mexico, Houston , Texas, Athens, Greece, Gulf of Mexico, America, Hormuz, Swiss, Switzerland, Bataan, Strait, Gulf of Oman, China
New York CNN —Goldman Sachs is increasingly confident that the US economy will stick the soft landing that many thought was nearly impossible to pull off. In a research report published Monday night, Goldman Sachs lowered its estimated chance of a US recession over the next 12 months to just 15%. Goldman Sachs pointed to “solid” job growth and rising real (inflation-adjusted) wages that should allow real disposable income to “reaccelerate” next year. The August jobs report, released late last week, showed that hiring remains solid, though it has slowed from the blockbuster pace of earlier in the post-pandemic recovery. “The August jobs report couldn’t be much better,” Moody’s Analytics chief economist Mark Zandi wrote Friday on X, formerly known as Twitter.
Persons: New York CNN — Goldman Sachs, Goldman Sachs, That’s, It’s, , , Jan Hatzius, ” Hatzius, Hatzius, reaccelerate ”, Mark Zandi Organizations: New, New York CNN, Federal Reserve, Wall Street, Bloomberg, Atlanta Locations: New York
Kent Sepkowitz CNNThere are several plausible reasons why this latest bump is occurring now after months and months of calm. To sort it out, I decided to perform an at-home rapid antigen test. One negative test on the first day of symptoms, especially with the rapid antigen test, is not determinative. The virus that causes Covid-19 infection is a simple scrap of RNA that cannot survive without a living cell to support it. This won’t be the last alarm, real or false, for me (and others) in the months ahead.
Persons: Kent Sepkowitz, Covid, , overconfidence Organizations: Memorial Sloan Kettering Cancer Center, CNN, Kent Sepkowitz CNN, US, Twitter Locations: New York, United States, XBB
CNN —No athlete attracts an A-list crowd quite like Lionel Messi, as demonstrated by Sunday’s Major League Soccer game between Inter Miami and Los Angeles FC. Ticket demand for Miami games has soared since the Argentinian’s arrival, with the average prices around $690 for Sunday’s match – the most expensive MLS game ever, according to online marketplace TickPick. Since moving from Paris Saint-Germain, Messi is having a huge impact on the pitch, as well as off it. Messi spoke with actor Owen Wilson after the game between LAFC and Inter Miami. It next faces Sporting Kansas City on September 9, while LAFC, currently third in the West Conference standings, plays the Portland Timbers.
Persons: Lionel Messi, Prince Harry, Leonardo DiCaprio, Owen Wilson, Edward Norton, Will Ferrell –, LAFC, Selena Gomez, Tyga, Germain, Messi, Harry, Sergio Busquets, Jordi Alba, Facundo Farías, Alba, John McCarthy, Aaron Long, Leonardo Campana, Ryan Hollingshead, Bouanga, Gary A, Vasquez, McCarthy, Gomez, , ” Messi, “ Zoolander, ” Selena Gomez, Mark J, Terrill, We’ve Organizations: CNN, Sunday’s Major League Soccer, Inter Miami, Los Angeles FC, Miami, MLS, Paris Saint, LAFC, Sunday, Reuters, BMO, , Eastern Conference, Sporting Kansas City, West Conference, Portland Timbers Locations: California, Paris, Miami, Barcelona
"They are the smallest country in the world," he said of the global community of billionaire superyacht owners. FlickrThe level of wealth of superyacht owners vastly exceeds that of even the sports stars and celebrities occasionally pictured on board. Superyacht owners can be intolerant of even the tiniest error or delay, the source said, and staff operate to precise schedules. Bruce Bennett/Getty ImagesSpy drones and bugging devicesAnd embarrassing guests are far from the only problem superyacht owners face. The privacy of the vessels, and the wealth, fame, and power of their owners and passengers inevitably draw unwelcome attention.
Persons: superyachts, David Geffen, you've, VALERY HACHE, you'd, they're, they've, Bruce Bennett, Simon Rowland, Rowlands, Spies Organizations: Service, Staff, Flickr, International Monaco, Getty, titans, UK Royal Marines, Veritas, superyachts Locations: Wall, Silicon, Yachtharbor.com, Hercules, Monaco, AFP
Ex-GIC bond manager to launch hedge fund -BNP Paribas
  + stars: | 2023-09-04 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +1 min
LONDON, Sept 4 (Reuters) - Reuben Abrams, a former portfolio manager at Singapore sovereign wealth fund GIC, is set to launch a hedge fund by year-end in London, according to a note to clients from BNP Paribas (BNPP.PA). Adira Investment Management will open its doors in the fourth quarter to take long and short bets on corporate credit, according to the note, which was dated September 1. Abrams spent over 17 years working at GIC, finally as its lead credit portfolio manager in Europe, according to LinkedIn. They outperformed the wider industry which saw performances rise 3.4% in the first half of 2023. Reporting by Nell Mackenzie; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Reuben Abrams, Abrams, Nell Mackenzie, Jason Neely Organizations: BNP Paribas, Adira Investment Management, LinkedIn, HSBC, Thomson Locations: Singapore, London, GIC, Europe, United States
Anton Wormann, a 30-year-old Swedish model, moved to Tokyo in 2019 after visiting for work. Advertisement Advertisement Watch: Inside a $12,000-a-night Airbnb in HollywoodMoving to Japan was the 'best decision'Wormann, a Swedish model, working on renovations in his Japanese house. After settling in the hip Shibuya and Sangenjaya districts of west Tokyo, Wormann told Insider he began buying cheap, neglected properties in the area and flipping them to rent for extra income. Wormann told Insider he was passing by the house and saw the owners at the site. The Sangenjaya house was completed in March, and Wormann told Insider he had his first Airbnb guests within a month.
Persons: Anton Wormann, Wormann, hadn't, Anton Wormann Wormann, shoji, Anton, Japan Wormann Organizations: Service, YouTube Locations: Tokyo, Wall, Silicon, Stockholm, Japan, New York, Milan, London, Paris, Hollywood, Swedish, Sweden
As Hankwitz was looking for yields, he came across the NEOS S&P 500 High Income ETF (SPYI). It's also attractive to those who may want to supplement their regular income, Hankwitz said. "Normally, you'll see anywhere between 2 to 4% for most of these dividend stocks," Hankwitz said. "But for a long-term investor like myself, I do want to have that deep exposure to the S&P 500. Global X S&P 500 Covered Call ETF (XYLD) is a similar fund that holds the S&P 500 stocks.
Persons: Austin Hankwitz, Hankwitz, It's, Troy Cates, Cates, it's, XYLD, SPYI, We've Organizations: Medicis, Broadcom, MasterCard, SPYI, JPMorgan, Internal Revenue Service, hasn't, Treasury Locations: SPYI
A shark was found in the Caribbean — thousands of miles away from its usual habitat in the Arctic. The Greenland shark, which has a lifespan of 250 – 500 years, surprised researchers in Belize. When they retrieved their scientific catch, they were astonished to find the ancient Greenland shark. Greenland sharks are primarily scavengers, eating everything (dead or alive), including fish, seals, polar bears, and whales. AdvertisementAdvertisementAccording to a 2016 study, Greenland sharks don't reach sexual maturity until they are at least 134 years old.
Persons: Hector Daniel Martinez, Demian Chapman, they're, Julius Nielsen Organizations: Service, Florida, Mashable, National Ocean Service, Caribbean, Sharks, Rays Conservation Research, Mote Marine Laboratory, Aquarium, New Locations: Caribbean, Belize, Wall, Silicon, Greenland, Baffin, Nova Scotia, Svalbard, Norway
A modified R-360 Neptune anti-ship cruise missile may be Ukraine's new long-range missile. The new weapon reportedly destroyed a Russian S-400 "Triumf" missile system in Crimea. Ukraine developed the weapon after Western states were reluctant to supply long-range missiles. Ukraine claimed that the new, domestically designed missile system destroyed Putin's highly-prized Russian S-400 "Triumf" missile system in Crimea last month. The report said the cheap cost and large supply of the bombs meant they could be used extensively in the conflict.
Persons: Danilov, Zelenskyy, Sukhoi Su, Denis Sinyakov Organizations: Service, Kyiv Post, Russia flaunts, National Security and Defense, Directorate of Intelligence, Ministry of Defence, Luch, UK Ministry of Defence, NATO, Sukhoi, Zhukovsky REUTERS, Kyiv Independent Locations: Russian, Crimea, Ukraine, Wall, Silicon, Kyiv, Russia, Ukrainian, Screengrab, US, Moscow, Soviet, Zhukovsky
Summer’s Not Over Yet
  + stars: | 2023-09-02 | by ( Melissa Kirsch | More About Melissa Kirsch | ) www.nytimes.com   time to read: +1 min
This weekend, while you’re working the grill or attending a parade or sitting in traffic, conversation will turn, inevitably, to the end of summer. Labor Day, nominally a holiday celebrating the industriousness of the American worker, also serves to remind the worker that they haven’t been quite as industrious as they might have been these past three months. In his eulogy for summer’s lazy days in The Times today, my colleague Stephen Kurutz mourns the vestiges of truly unmonitored working from home that this fall seems to augur: “Will we forget the small pleasure of sitting on a porch and looking at the yard?” he writes. Of trading the daily commute for an aimless drive?”Why must there be such an austere demarcation between before Labor Day and after, between summer and not-summer, between enjoying our lives and enduring them? Why have we so internalized the back-to-school dread of childhood that it’s become a permanent feature of adulthood?
Persons: You’ll, Stephen Kurutz, it’s Organizations: Labor, The Times Locations: The
Would-be Tesla Cybertruck buyers still don't know how much they're spending. Apart from the few remaining details listed and the occasional cryptic tweet from Musk, there isn't much information to tell Cybertruck buyers what they're getting into. Tesla Cybertruck. That makes it even more important to give loyal truck buyers some details to work with. "If you're looking to convert average pickup truck buyers to something different, that's a little harder," Fiorani said.
Persons: Tesla, Elon, Musk, It's, Cybertruck, William Huston, he's, Ed Kim, AutoPacific, Sam Fiorani, Fiorani Organizations: Morning, Ford, Chevrolet, Toyota, AutoForecast Locations: San Francisco
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