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☆ Time Names Jessica Sibley as CEO
▼ + stars: | 2022-11-08 | by ( Joseph De Avila | Alexandra Bruell | ) www.wsj.com time to read: 1 min

Time, the publisher of Time magazine, has named Jessica Sibley as chief executive of the media company. Ms. Sibley is taking over Time’s business operations from current chief executive Edward Felsenthal , who will retain his role as editor in chief of the publication, the company said Monday. Mr. Felsenthal will also become executive chairman of the company, Time said.

☆ Covid’s Drag on the Workforce Proves Persistent. ‘It Sets Us Back.’
▼ + stars: | 2022-11-07 | by ( Gwynn Guilford | Lauren Weber | ) www.wsj.com time to read: 1 min

Two-and-a-half years after Covid-19 emerged, reported infections are way down, pandemic restrictions are practically gone and life in many respects is approaching normal. The labor force, however, is not. Researchers say the virus is having a persistent effect, keeping millions out of work and reducing the productivity and hours of millions more, disrupting business operations and raising costs.

☆ Australia's top health insurer reels after data breach
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Medibank Private Ltd (MPL.AX), Australia's biggest health insurer, reported a massive data breach in October that compromised personal and medical information of its current and former customers, and slashed its stock value by almost a fifth. read moreOct. 17: Normal business operations resume. read moreOct. 19: Medibank says an unnamed hacker group contacted it to negotiate about customer data it claimed to have retrieved from the company's IT systems. read moreOct. 21: Medibank suspends trading amid the likelihood that the hack may impact more customers. read moreNov. 7: Medibank says no ransom will be paid to the criminal responsible for the data theft and that data of around 9.7 million current and former customers was compromised.

☆ Medibank says hacker accessed data of 9.7 mln customers, refuses to pay ransom
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Medibank Private Ltd (MPL.AX), Australia's biggest health insurer, on Monday said no ransom payment will be made to the criminal responsible for a recent data theft, wherein around 9.7 million current and former customers' data was compromised. Highlighting findings of the firm's investigation to date, Medibank confirmed that name, date of birth, address, phone number, and email addresses for around 9.7 million current and former customers were accessed in the data theft. Koczkar added that paying a ransom could encourage the hacker to extort customers directly, hurting more people. The insurer reiterated that business operations remained normal during the time of the cyberattack, with customers continuing to access health services. Medibank warned its customers must be vigilant as the criminal may leak the data online or attempt to contact customers directly.

☆ Medibank says hacker accessed data of 9.7 million customers, refuses to pay ransom
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

☆ U.S. economy added 261,000 jobs in October, better than expected as hiring remains strong
▼ + stars: | 2022-11-04 | by ( Jeff Cox | ) www.nbcnews.com time to read: +2 min

Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a strong labor market. Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs but worse than the 3.5% estimate for the unemployment rate. Average hourly earnings grew 4.7% from a year ago and 0.4% for the month, indicating that wage growth is still likely to pressure inflation. Those hikes are aimed in part at cooling a labor market where there are still nearly two jobs for every available unemployed worker.

☆ CNN CEO Chris Licht is facing an increasingly angry newsroom as more layoffs loom, plans are murky, and staff have lost confidence after 'horrible programming decisions'
▼ + stars: | 2022-11-04 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

CNN CEO Chris Licht has been faulted by the newsroom for too many changes and not enough communication. Chris Licht needs a hit. "People are starting to believe there is no plan," said one executive familiar with the workings of CNN. "Is Chris Licht going to be there for them and push back on government officials? Many on the ad sales team that was formerly dedicated to CNN have either been pink-slipped or joined the broader ad sales group under WBD ad honcho Jon Steinlauf.

☆ U.S. payrolls surged by 261,000 in October, better than expected as hiring remains strong
▼ + stars: | 2022-11-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Although the number was better than expected, it still marked the slowest pace of job gains since December 2020. Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs, but worse than the 3.5% estimate for the unemployment rate. Traders expect the Fed to enact another .5 percentage point increase in February. The unemployment rate rose 0.2 percentage point even though the labor force participation rate declined by one-tenth of a point to 62.2%.

☆ New York Judge Imposes Monitoring Requirements on Trump Business Operations
▼ + stars: | 2022-11-03 | by ( Laura Kusisto | Corinne Ramey | ) www.wsj.com time to read: 1 min

A judge said Thursday that New York’s attorney general had presented abundant evidence to support her contention that Trump’s family business had engaged in fraud. A New York judge on Thursday required that Donald Trump’s family business be subject to monitoring requirements while it is facing a civil-fraud lawsuit from New York Attorney General Letitia James . State Supreme Court Justice Arthur Engoron said that given what he called “persistent misrepresentations” by the Trump family’s business in its financial statements over the last decade, “the appointment of an independent monitor is the most prudent and narrowly tailored mechanism to ensure there is no further fraud or illegality.”

☆ Washington state sues to block Albertsons' $4 bln payout to shareholders
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Washington State Attorney General Bob Ferguson filed a lawsuit on Tuesday to block grocery chain Albertsons Cos Inc (ACI.N) from paying dividends to shareholders before closure of its proposed merger with supermarket operator Kroger Co (KR.N). The $4 billion payout to shareholders "risks severely undercutting the grocery giant's ability to compete during the lengthy time period government regulators — including Washington — will be scrutinizing the merger," according to a statement posted to the Washington Attorney General's website. "Paying out $4 billion before regulators can do their job and review the proposed merger will weaken Albertsons' ability to continue business operations and compete," Ferguson said. Kroger and Albertsons did not immediately respond to a request for comment on the AG's lawsuit. Late in October, District of Columbia Attorney General Karl Racine said that half-a-dozen state attorneys general are digging into Kroger planned acquisition of Albertsons.

☆ U.S. automaker Ford opens $260 million campus in Mexico
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 31 (Reuters) - U.S. automaker Ford Motor Co (F.N) opened its new global technology and business center on the outskirts of Mexico's capital on Monday after a $260 million investment. The new campus will host business operations, global transformation activities and the largest engineering center in Mexico, according to a video shared by the company's Twitter account. loadingThe campus, located in the municipality of Naucalpan, is set to host 9,000 employees working in a hybrid manner, splitting time between home and the campus, Ford Motor said in a statement. Several foreign auto companies have expanded operations and announced new investments in Mexico this year. Reporting by Carolina Pulice and Valentine Hilaire; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

To see how much jobs in the creator economy pay, Insider analyzed salary data from 142 work-visa applications filed with the US government and decided on between October 2020 and June 2022. The pay data includes salaries ranging from a data scientist position that offers $170,000 per year at Discord to a staff engineer role that earns $250,000 or more at Patreon. At Cameo, a principal software engineer would make $230,000Steven Galanis, CEO of Cameo. Senior Manager, DevOps : $140,000: $140,000 Statistician: $116,979 to $170,000 (Spotter said it internally calls this position "Data Analyst.") At Teachable, a senior software engineer would make $150,000Teachable is a platform where creators can build and sell online courses and coaching programs.

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☆ 2 Chinese agents tried to bribe an undercover FBI agent with $61,000 in Bitcoin in an attempt to steal classified information: DOJ
▼ + stars: | 2022-10-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Federal prosecutors say two Chinese agents tried to bribe a government worker to steal information. The duo wanted to obtain secrets about an investigation into a Chinese telecommunications firm. The person they tried to bribe was an undercover FBI agent. He Guochun and Wang Zheng offered an unnamed government employee $61,000 in Bitcoin for secret information regarding the prosecution of a big Chinese telecommunications firm, prosecutors said. He is also charged with two counts of money laundering because of the $61,000 bribe, the complaint said.

☆ Reef quietly exits Houston as the SoftBank-backed ghost kitchen continues to face operational issues and loses partnerships
▼ + stars: | 2022-10-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Houston officials say Reef is no longer operating in the city, where it once had 29 trailers. The ghost-kitchen startup Reef Technology is no longer operating kitchen vessels in Houston, Insider has learned. But in January this year, Reef temporarily closed about one-third of its food trailers as it focused on large chains that generate more revenue than independent restaurants. A year ago, Reef operated at least 29 food trailers in Houston, according to the city's health department, which inspects the food trailers. The startup has been cited for operating trailers without permits in several US cities.

☆ Education Secretary Miguel Cardona says the department is 'moving full speed ahead' to implement student debt relief despite an appeals court temporarily blocking the plan
▼ + stars: | 2022-10-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Miguel Cardona says student debt relief is "moving full speed" despite a temporary hold on the plan. The Eighth Circuit Court of Appeals on Friday issued an administrative stay for the relief plan. "Already, 22 million people have provided the department with the necessary information we need to review their eligibility for student debt relief." In framing the debt relief plan as one that would benefit working and middle-class families, Cardona criticized efforts by several Republican attorneys general to invalidate Biden's student-loan forgiveness plan. The Biden administration also faces legal challenges from Arizona GOP Attorney General Mark Brnovich, the Job Creators Network Foundation, and the Cato Institute over its debt relief plan.

☆ A federal judge just temporarily paused Biden's student-loan forgiveness plan
▼ + stars: | 2022-10-21 | by ( Ayelet Sheffey | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

A federal judge just temporarily paused Biden's student-loan forgiveness plan. "Today, a judge ordered a stay on President Biden's student debt cancellation plan stemming from a lawsuit filed by a greedy student loan company. While the loan forgiveness still awaits a final judgment, this temporary pause means that the status quo of no relief will be preserved until then. The pause came on the same day Biden announced that about 22 million student loan borrowers applied for the program. That figure represents a little more than half of the 43 million borrowers who would be eligible for the program.

☆ Biden's student-loan forgiveness can move forward for now after a federal judge just threw out one of the most serious GOP lawsuits against the debt relief
▼ + stars: | 2022-10-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It was regarded as one of the most serious challenges to the loan forgiveness plan. The GOP-led states could still appeal the case, but for now, Biden's debt relief can move forward. The suit was regarded as one of the most serious cases challenging the debt relief plan. Autrey said that the plaintiffs failed to show concrete harm the debt relief would cause them and will no longer consider the case. "It is unconscionable that your company — as one of the largest student loan companies in the world—would be involved in overtly political efforts to rob millions of their right to student loan debt relief," Bush wrote.

☆ It is 'unconscionable' that a major student-loan company would be involved in lawsuits that would 'rob millions' of borrowers of Biden's debt cancellation, a Democratic lawmaker says. She wants answer
▼ + stars: | 2022-10-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Rep. Cori Bush requested information from student-loan company MOHELA on its involvement in a lawsuit. Six GOP-led states recently argued Biden's debt relief would hurt the business operations of MOHELA. "It is unconscionable that your company—as one of the largest student loan companies in the world—would be involved in overtly political efforts to rob millions of their right to student loan debt relief," Bush wrote. "To date, your company has remained silent about the legal efforts filed on your behalf to halt President Biden's student debt cancellation program. Does MOHELA support efforts to block debt relief in an effort to preserve its own profits?

☆ Australia's Medibank drops after ransomware attack in IT network
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Shares of Medibank Private Ltd (MPL.AX) dived nearly 5% on Monday even after the Australian health insurer assured clients that normal business operations have resumed following an attempted ransomware attack on its network. Shares of Medibank fell as much as 4.8% to A$3.350, their lowest level since July 19. read more read moreRegister now for FREE unlimited access to Reuters.com RegisterMedibank said last Thursday it would isolate and remove access to some customer-facing systems after it detected unusual activity on its network. read moreThe company said its investigation indicated that its cyber security systems had detected activity "consistent with the precursor to a ransomware event" but that its systems were not encrypted by ransomware. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shashwat Awasthi and Roushni Nair; editing by Diane Craft, Will Dunham and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Student-loan borrowers can now apply for debt cancellation, but the relief is still in limbo with lawsuits in the mix
▼ + stars: | 2022-10-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan borrowers can apply for debt relief now during a beta testing period. Borrowers are awaiting a decision from a federal judge who heard arguments for a lawsuit last week. It's clear Biden's administration is moving forward with the process for relief and doesn't appear to be deterred by the lingering lawsuits attempting to block debt cancellation from coming to fruition. It could also mean borrowers will have to resume payments in January 2023 without any relief applied to their accounts. They should receive a confirmation email once the application is submitted, and their student-loan company will notify them once the relief is processed.

☆ Australia's Medibank says normal operations resume after ransomware attack
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Australian health insurer Medibank Private Ltd (MPL.AX) said on Monday normal business operations had resumed after an attempted ransomware attack and reaffirmed that there was no evidence that customer data had been removed from the network. Medibank said last Thursday it would isolate and remove access to some customer-facing systems after it detected unusual activity on its network. There was no indication that the incident was caused by a "state-based threat actor", the company said, adding that an investigation into the incident would continue. It said its business was tracking in line with its fiscal 2023 forecast and would be unaffected by the incident. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shashwat Awasthi; editing by Diane Craft and Will DunhamOur Standards: The Thomson Reuters Trust Principles.

☆ China is no longer just any emerging market — it has become its own beast
▼ + stars: | 2022-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China is no longer just another emerging market play. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. So far, she said, the number of clients excluding China isn't "overwhelming," and by metrics such as per capita GDP the country remains an emerging market. An internal party committee, or office, gathers together a company's employees who are members of the Communist Party of China.

☆ German car industry baulks at supplier demands over energy hikes
▼ + stars: | 2022-10-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +6 min

More and more suppliers are calling on the industry to renegotiate contracts to include energy clauses so they can cover the cost of rising bills. "We're asking for help with raw material costs, for clauses incorporating inflation - but the red line is energy costs. 'NO GOOD OPTIONS'While contracts in the automotive supply chain in Germany often include clauses that adapt prices according to the cost of raw materials, energy clauses are much less common. They can be problematic because they are complicated to calculate and require suppliers to share details on their margins, the production process and their energy contracts. "At a car manufacturer it's a lot of effort," he said, adding that his company only had energy clauses with a few important suppliers.

☆ Landing cut roughly a third of its Alabama staff — but first the real estate startup had the laid-off workers train their cheaper, Mexico City-based replacements
▼ + stars: | 2022-10-13 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

The furnished-apartment rental company Landing laid off 110 employees last week. According to the company, it launched its Mexico operation in 2020, which has grown to include at least 100 employees. The two laid-off employees described training the Mexico City-based colleagues over Slack, Zoom, and the business-messaging application Intercom. However, two laid-off employees disagreed with this assessment and told Insider that while some employees had been moved into markets earlier this summer, they still required the help of a centralized operations team. "One of Bill's 10 business principles is to execute relentlessly," the laid-off employee said.

☆ Rapidly-growing productivity startup ClickUp poached new executives from ServiceNow and Zscaler as it looks to an eventual IPO
▼ + stars: | 2022-10-12 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

ClickUp has brought on new executives as it looks to grow and prepare for an eventual IPO. Productivity and collaboration startup ClickUp has brought on new executives from competitors like ServiceNow to help it grow and prepare for an eventual IPO. From ServiceNow comes two execs: Jim Bartolomea, now ClickUp's new senior VP of people, and Marshall Tyler, ClickUp's newly-minted chief strategy officer. ClickUp's new leadership bench will be focused on "creating a predictable, scalable, and efficient revenue engine," Tommy Wang, ClickUp's chief business officer, told Insider. Jim Bartolomea is ClickUp's new senior VP of People ClickUpThat's where Bartolomea, the new senior VP of people, comes in.

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