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She also says healthcare, driving, and working in the UK are some things that shocked her the most. Driving in the UK is not for the faint of heart and the driving test is taken very seriously. Working in the UKThirty-five hours of work per week or more is considered full time. Coming from the US, part-time worker's rights and generous paid family-leave was a real culture shock for me. AdvertisementAdvertisementI work fewer hours and have a better quality of life than I did living in Chicago.
Persons: Regina Beach, I'd, I've, There's, Organizations: US, Service, Healthcare, National Health Service Locations: Regina, Wales, Wall, Silicon, Laos, Southeast Asia, Chicago, United Kingdom, Bristol, England, Great Britain, America, British, South Wales
“But in terms of the logic of North Korea, they make sense." Worrisome possible outcomes include Russia helping North Korea beef up “its pretty antiquated ... museum-ready” conventional forces or its weapons of mass destruction, Seiler said. “North Korea was clearly developing capabilities that would enhance its position vis-à-vis South Korea. ‘I WAS BROUGHT TO TEARS'Among his experiences in North Korea that stood out, Seiler pointed to watching a landmark 1983 Korean television show. Unscripted, the show turned into an emotional, marathon, 453-hour live broadcast that reunited Korean families divided under Japanese colonization or during World War II and the Korean War.
Persons: Kim Il Sung, Syd Seiler, Seiler, Kim, Don’t, , Kim Jong, , Nicolae Ceausescu, Kim Jong Un, Vladimir Putin, Kim “, ” Seiler, , Putin, China's, , it's Organizations: WASHINGTON, Associated Press, U.S, Korean, KOREA Locations: U.S, North Korea, South Korea, Romanian, Korea, RUSSIA, Russia, Ukraine, United States, Taiwan, Korean
An IT manager was asked to delete surveillance footage at Mar-a-Lago, the Justice Department alleged. That footage was alleged to show Donald Trump's aide moving boxes of classified documents. The IT manager struck a cooperation deal and testified before a federal grand jury. A cooperation agreement generally requires an individual to assist a criminal investigation in exchange for not being prosecuted. The indictment alleges that De Oliveira, Mar-a-Lago's property manager, told Taveras — identified in court papers as "Trump Employee 4" — that "the boss" wanted surveillance footage deleted.
Persons: Donald Trump's, Lago, Stanley Woodward, Trump, Walt Nauta, Taveras, Carlos De Oliveira, De Oliveira, Taveras —, Jack Smith's, Woodward Organizations: Justice Department, WASHINGTON, Mar, Service, Department, CNN, Trump, District of Columbia Locations: Florida, Wall, Silicon, Mar, District
Qantas' CEO is stepping down from his role two months early and will receive a $24 million bonus. AdvertisementAdvertisementAlan Joyce, CEO of Australian national airline Qantas, is facing criticism for the $24 million golden goodbye he will receive after announcing that he is stepping down from his role early on Monday. "If the Board allows Mr Joyce to walk away with $24 million after illegally sacking 1,700 people, gouging customers and while subject to an ACCC prosecution, it will be the swindle of the century," Sheldon said. If Mr Joyce walks away with his $24 million, he will make their annual salary in less than 6 hours." AdvertisementAdvertisementJoyce earned $125 million over the 15 years he spent as Qantas' CEO and was even ranked the highest-paid CEO in Australia in 2018, Sky News Australia reported.
Persons: Alan Joyce, Joyce, Vanessa Hudson, Joyce's, Tony Sheldon, Mr Joyce, Sheldon, Michael Kaine Organizations: Qantas, Australian, Australian Competition, Consumer Commission, Australian Labor Party, Transport Worker's Union of Australia, Australian Aviation, Sky News Australia, Transport Workers Union, ABC, Australia's Federal Locations: Australia
Vinod Kalathil and his wife recently opened the restaurant Thattu in Chicago. The restaurant doesn't take tips but instead pays servers a competitive wage. My wife and I opened our restaurant, Thattu, about four months ago on the Northwest side of Chicago. Before we opened, we talked to other restaurant owners about plans for opening a "no-tip" restaurant. We actually opened the first iteration of Thattu back in 2019 in a food hall in Politan Row.
Persons: Vinod Kalathil, Thattu, what's Organizations: Service, Labor, City, Block Club Chicago, Block Locations: Chicago, Wall, Silicon, Kerala, India, Politan, Thattu, City of Chicago
Jay is one of many workers contending with shifting rules around in-person and remote work. For some, those arrangements just don't work — and, like Jay, some workers would take a pay cut to be able to stay remote. The research on whether remote work is less productive is mixed, though, and for some, it may be a better fit than for others. Jay said his previous managers, for instance, "were completely in favor of remote work" but told him "this decision is out of their hands." Already, there's an "office apocalypse" raging in some cities, with McKinsey predicting remote work will slash the value of office buildings to the tune of $800 billion by 2030.
Persons: Jay, Kathleen Hall, It's, doesn't, that's, Bill de Blasio Organizations: Service, Jay, trumpeted, McKinsey Locations: Wall, Silicon, New York City
North Korea stages 'tactical nuclear attack' drill
  + stars: | 2023-09-03 | by ( ) www.cnbc.com   time to read: +2 min
People watch a television broadcast showing a file image of a North Korean rocket launch at the Seoul Railway Station on August 24, 2023 in Seoul, South Korea. North Korea conducted a simulated "tactical nuclear attack" drill on Saturday that included two long-range cruise missiles, state media reported on Sunday, as leader Kim Jong Un inspected shipbuilding and munitions factories. The two cruise missiles carrying mock nuclear warheads were fired towards the West Sea of the peninsula and flew 1,500 kilometers (930 miles) at a preset altitude of 150 meters. A separate statement said Kim visited Pukjung Machine Complex, which produces marine engines, and a major munitions factory to stress the importance of strengthening Pyongyang's naval forces. North Korea has been stepping up its military deterrence against Washington and Seoul and has criticized last month's summit agreement between the two on improving military cooperations.
Persons: Kim Jong Un, Kim Organizations: Korean, Seoul Railway Station, Washington, Central Committee, Worker's Party of Locations: Seoul, South Korea, North Korea, Pyongyang, Worker's Party of Korea, U.S, Korea
Experts say a reassignment is often a good sign and may mean a company wants to keep you. Challenger told Insider that over the past few years, companies focused on reassigning workers internally because it was hard to find replacements amid the labor shortage. AdvertisementAdvertisement"It's usually a company saying, 'Hey, we don't have this role anymore, but we want to keep you,'" Challenger told Insider. "Just the act of reassignment does not signal that a company wants you gone," Julia Pollak, the chief economist at ZipRecruiter, told Insider. Yolanda M. Owens, a career coach who works with platforms like the Muse, told Insider by email that companies can also use reassignments to keep the power dynamics in their favor.
Persons: Andy Challenger, they've, Julia Pollak, Pollak, Yolanda M, Owens, Challenger, " Pollak Organizations: Service, Street Journal, Challenger, Research Locations: Wall, Silicon
Fully remote jobs may be more vulnerable to new AI tech, one expert says. Stanford's Nicholas Bloom said AI was likely to impact "low-level, fully remote workers," per Fortune. Jobs that rely in some part on in-person work have less to fear from AI automation. "If I were fully remote, you could replicate me with AI," he said during the panel, which was reported by Fortune. "I think we're going to see a lot of impact [among] low-level, fully remote workers," he added.
Persons: Stanford's Nicholas Bloom, Jobs, Nicholas Bloom, Bloom, Alexis Ohanian Organizations: Service, Stanford University Locations: Wall, Silicon
A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsSYDNEY, Aug 25 (Reuters) - Australia's second-largest pension fund plans to open its first overseas office by mid-2024, its chief investment officer said on Friday, the latest retirement manager to look overseas as the country's pension sector outgrows the home market. The team will "almost certainly" be based in London and only be small because ART relies mostly on external managers, Patrick said, adding the office would likely open between now and mid-2024. A decision on a second overseas office would be made 12 to 24 months after the first opens. ART invests roughly two-thirds of all new money funds overseas.
Persons: Hollie Adams, Ian Patrick, Patrick, HarbourVest, Neuberger Berman, Lewis Jackson, Praveen Menon, Jacqueline Wong Organizations: REUTERS, Rights, Reuters, Stepstone, AustralianSuper, Nikkei, Thomson Locations: City, London, Britain, New York, China
A 23-year-old construction worker died in March when an overloaded crane collapsed. Its 15 violations included failing to create or employ an accident prevention program. AdvertisementAdvertisementOSHA cited S&D Erectors with a total of 15 violations, including operating a mobile crane in excess of its rated capacity. The federal agency also said that S&D Erectors did not create and employ an accident prevention program, or perform frequent and regular inspections of the site. S&D Erectors could not be reached for comment.
Persons: DOL, Erectors, Timothy Minor Organizations: OSHA, Service, Department of Labor, Wednesday, Occupational Safety, Health Administration Locations: Wall, Silicon, Texas
Fox News featured the "Rich Men North of Richmond" song at the GOP presidential debate on Wednesday. The singer-songwriter behind the song said he found that decision "funny" and "aggravating""I wrote that song about those people," Oliver Anthony said. The song was quickly adopted by Republicans on the presidential campaign trail, ultimately leading to it being featured in the very first question at the GOP presidential debate on Wednesday. "Those rich men north of Richmond have put us in this situation." But in a video published to YouTube on Friday, Anthony said the song's inclusion at the presidential debate was "aggravating," because it was written about the very people on stage "and a lot more too."
Persons: Oliver Anthony, Anthony, Joe Biden, I've, he's Organizations: Fox News, North, Service, Republicans, YouTube Locations: Richmond, Wall, Silicon
A select group of our Club holdings have recently demonstrated durable pricing power to protect profits during what continues to be a high inflation environment. For companies, elevated inflation means higher input costs — higher costs on the goods and services required to run their businesses. In a recent note, UBS acknowledged, "Inflation may trend back toward the Fed's target sooner than expected reducing the relative advantage of companies with pricing power." In fact, UBS believes that "companies with pricing power have the potential to outperform the broader market in the months ahead." Microsoft's pricing power comes down to the simple fact that they have positioned themselves as a core backbone of global productivity.
Persons: Andrew Bonfield, Jim Umpleby, we'll, Gamble, Gillette, Jon Moeller, Linde, Matthew White, White, Salesforce, Jim Cramer's, Jim Cramer, Jim, Procter & Gamble, Justin Sullivan Organizations: Federal Reserve, UBS, Caterpillar, Procter, Gamble, Linde, LIN, Microsoft, Construction Industries, Resource Industries, Energy, Transportation, Procter & Gamble, Health, Care, Investment, Management, Services Cloud, Cloud, Industries, CNBC, Procter & Locations: U.S, Australia, Canada, New Zealand, Greenbrae , California
Tesla workers described what it was like to work through "production hell" in a new podcast. The ex-Tesla workers told The Verge that they worked long hours and faced high pressure to deliver. Tesla workers shared their experience working at the automaker during Elon Musk's stretches of "hardcore" production in a recent podcast from The Verge. He also said he recalled a raw sewage leak that some Tesla workers were told to continue working through. At the time, a spokesperson for Tesla told Insider that the company was not aware of any instances in which managers told workers to walk through sewage.
Persons: Carlos Gabriel, Musk, Gabriel, he'd, Tesla, Huibert Mees, Denis Duran —, , Duran, we've, Elon Musk, Mason Trinca, Melvin Berry, Elon, Berry, Mees Organizations: Morning, Giants, Tesla, Fremont, Washington Post, Apple, Bloomberg, Union, The Washington, Getty, Wired, Twitter, EV Locations: Elon Musk's
Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoCHICAGO, Aug 14 (Reuters) - The United Steelworkers (USW) international president said on Monday that the union supports North American steel producer Cleveland-Cliffs' bid to acquire rival, United States Steel Corp (X.N), adding that the company is the best strategic buyer. "Cliffs is committed to the blast furnace segment of the steel market and U.S. Steel is not," the union's international president, Thomas Conway told Reuters in an interview. The United Steelworker's collective bargaining agreement with U.S. Steel outlines that the company has to take union leadership voices into account for acquisition bids. U.S. Steel has said that it received "multiple unsolicited proposals."
Persons: Lawrence Bryant, Thomas Conway, Conway, Bianca Flowers, Tomasz Janowski Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United Steelworkers, United States Steel Corp, Steel, U.S, Reuters, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, Chicago
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRemote work expands job opportunity for both workers and employers, says Stanford's Steven DavisCNBC’s Steve Liesman and Stanford's Steven Davis, join 'The Exchange' to discuss remote worker's impact on the economy.
Persons: Stanford's Steven Davis, Steve Liesman
SYDNEY, Aug 1 (Reuters) - Australia's largest pension fund, AustralianSuper, has appointed senior executives to its London office as part of the rapidly growing fund's push to expand its presence overseas. The A$300 billion ($201.39 billion) fund on Tuesday appointed six executives to investment, risk and corporate affairs roles, including Carl Astorri to Head of Investments, Europe; and John Normand, formerly head of cross-asset strategy at J.P. Morgan, to Head of Investment Strategy. Deputy chief investment officer Damian Moloney, who is based in London, said the office was an "important investment engine" for AustralianSuper. AustralianSuper expects to grow to A$500 billion in member assets within five years and will deploy roughly 70% of its inflows to global markets. The fund plans to triple its global team to 300 within three years, spread across its London and New York offices plus a small contingent in Beijing.
Persons: Carl Astorri, John Normand, Morgan, Damian Moloney, Lewis Jackson, Gerry Doyle Organizations: SYDNEY, Investments, Investment Strategy, Thomson Locations: Europe, London, Australia, New York, Beijing
Amazon announced its plans to double its same-day delivery sites in the coming years. The plans come months after Amazon said it ramped up the pace of some deliveries to "within hours." Amazon is planning to double its number of same-day delivery facilities "in the coming years," the company said in a press release. But more same-day delivery sites could also increase in the number of packages and stops for drivers, which in turn, could lead to harsher working conditions. Rising temperatures could also make the work of delivery drivers harder.
Persons: Amazon, Doug Herrington Organizations: Amazon Locations: Los Angeles, Phoenix, San Francisco
Nearly 12 million US workers may need to switch jobs by 2030, a McKinsey study found. But between now and 2030, the McKinsey researchers projected that 11.8 million workers will have to change jobs not because they want to, but because they have to. Roughly nine million of them might have to find new jobs in new industries altogether, the study found. The study found that Americans in lower-wage jobs are up to 14 times more likely to need to change occupations by 2030. Chui said this could lead to less demand for some jobs and increased demand for others — like healthcare workers.
Persons: Michael Chui, Chui, Chu, we're Organizations: McKinsey, Service, McKinsey Global Institute, America Locations: Wall, Silicon, United States
A Burger King worker has been charged with malicious tampering with human food, per Fox Carolina. A representative for Burger King told Insider the employee had been terminated. Citing police statements, Fox Carolina reported that the worker took fries from the trash and moved them to a container where freshly cooked fries were placed on top. A representative for Burger King told Insider the employee had been terminated and the franchisee was cooperating with local authorities. Fox Carolina reported that Burger King's headquarters called the department two days later to report accusations about the dumped fries being served to customers.
Persons: Burger, South Carolina Burger King, Fox, Burger King Organizations: Burger, Burger King, Service, South, South Carolina Burger, State, Union Police Department, Fox Carolina, Burger King Deutschland Locations: Fox Carolina, Wall, Silicon, South Carolina, Germany
A new report from the Consumer Financial Protection Bureau looks at employer-driven debt. The report finds that employers are saddling workers with thousands in debt for training and supplies. On Thursday, the Consumer Financial Protection Bureau released a report detailing the impact of training repayment agreement provisions, or TRAPs. The watchdog said it will continue to evaluate how companies are using TRAPs to determine whether they are violating consumer financial laws. "TRAPs impose significant financial burdens on workers and foster monopsony in labor markets by reducing worker mobility and bargaining power.
Persons: onboarding, hasn't, Nurse E, E, , Persis Yu Organizations: Consumer Financial, Service, Biden, Federal Trade Commission, FTC, Protection Locations: Wall, Silicon, America
Kate_sept2004 | E+ | Getty Images17% of employers offer some kind of student loan aidFew employers offer student loan benefits, which can take many forms. Seventeen percent offer some type of student loan assistance, according to a 2021 survey by the Employee Benefit Research Institute. The most popular workplace programs don't offer direct relief for student loan payments. The expanded tax break for student loan payments is temporary, however. Starting in 2024, employers will also be allowed to pay a 401(k) match to borrowers making student loan payments, a provision enacted by a 2022 law known as Secure 2.0.
Persons: Will Hansen, We're, Derrick Johnson, Johnson, Luis Alvarez, SHRM, We've, Randi Weingarten, " Hansen Organizations: Research, of America, NAACP, Digitalvision, Getty, American Federation of Teachers Locations: Albuquerque , New Mexico, Washington, Orange County , Florida
Here's the inflation breakdown for June, in one chart
  + stars: | 2023-07-12 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +7 min
The CPI is a key barometer of inflation, measuring prices of anything from fruits and vegetables to haircuts and concert tickets. Hourly earnings increased 0.2%, on average, from May to June after accounting for inflation, according to BLS data. 'Encouraging' inflation signals moving forwardThe inflation slowdown has been broad-based, Zandi said. watch nowGrocery price inflation is also down significantly from its peak around 14% last summer, which had been the highest rate since 1979. Economists say it's a near certainty that housing prices will continue to fall through the second half of the year.
Persons: Michael M, Mark Zandi, Zandi, we're, Mark Hamrick, Andrew Hunter, Ben Bernanke, Olivier Blanchard, Stephanie Roth, Roth Organizations: Lincoln Market, Santiago, Getty, U.S . Bureau of Labor Statistics, Moody's, BLS, Capital Economics, Finance, U.S . Federal Reserve, Peterson Institute for International Economics, Morgan Private Bank Locations: Brooklyn , New York, U.S, Ukraine
Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. Much of the increase in pay has been driven by the private sector, with annual wage growth increasing to 7.6% in the three months to April. However, Bank of England Governor Bailey noted in his Mansion House speech on Monday that the British economy has proven unexpectedly resilient. Last summer saw a slew of strikes and protests as real wages, which reflect the power of a worker's pay after accounting for inflation, declined at a record rate. "No question about it, current nominal wage growth remains far too high relative to the sustainable rate of probably around 3.5-4.0% yoy.
Persons: Mark Kerrison, Andrew Bailey, Jeremy Hunt, Stuart Cole, BoE, Rishi Sunak, Danni Hewson, AJ Bell, Bank of England Governor Bailey, Sanjay Raja, Raja, Equiti's Cole, Bailey, Kallum Pickering, Pickering Organizations: National Education Union, Department for Education, Getty, LONDON, Bank of England, National Statistics, . Finance, City of, Equiti, Monetary, Deutsche Bank, MPC, Treasury, Bank, The, England's Locations: London, United Kingdom, City, City of London, Ukraine
Global financial markets have been closely watching Japan's wage data, as Bank of Japan Governor Kazuo Ueda regards pay growth as a key gauge to consider in deliberations about a shift in policy. Regular wages rose 1.8% in May from a year before, labour ministry data showed, the biggest gain since February 1995. The strong base pay growth boosted worker's total cash earnings, or nominal wages, by 2.5% in May, after a revised 0.8% increase logged in April. Still, real wages contracted 1.2% in May, the 14th consecutive month of year-on-year declines, as relentless consumer inflation outstrips nominal pay growth and squeezes households' buying power. On a seasonally adjusted month-on-month basis, household spending was down 1.1%, versus an estimated 0.5% gain to mark a fourth month of decline.
Persons: Kazuo Ueda, Kuroda, Hisashi Yamada, Rengo, Takumi Tsunoda, Shinichi Uchida, Taro Saito, Satoshi Sugiyama, Kantaro, Tetsushi Kajimoto, Sam Holmes Organizations: Global, Bank of Japan, Hosei University, Shinkin Central Bank Research, Nikkei, BOJ's, NLI Research, Thomson Locations: TOKYO
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