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☆ Why Paid Sabbaticals Are Good for Business: Better Employees, Less Burnout
▼ + stars: | 2023-01-09 | by ( Crissie Hoskins | ) www.businessinsider.com time to read: +10 min

And through it all, I didn't get fired, there was no formal reprimand, and I got paid the entire time. Sabbaticals provide a proactive hedge against employee burnout, an antidote for attrition, and a protection from career wanderlust. Some employers argue that offering paid time off won't help keep employees around, but my sabbatical made me more passionate about my work — and my workplace — than ever. I love my job and want to be sure my team and clients get the best of me. Sabbaticals are good for businessMy sabbatical wasn't an anomaly — research shows that sabbaticals help employees fight burnout and improve their well-being.

☆ Factbox: China to reopen borders, including with Hong Kong, after 3 years
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +4 min

Jan 6 (Reuters) - China will reopen its borders on Sunday, including with its special administrative region of Hong Kong, after nearly three years of COVID-19 closures and restrictions. Travellers from both Hong Kong and China must obtain a negative COVID test result and log it online within 48 hours of departure. Hong Kong and the neighbouring Chinese city of Shenzhen have launched an online booking system for travellers to reserve a slot. China will from Sunday resume issuing tourist and business visas for mainland residents to travel to Hong Kong and Macau. Reporting by Farah Master in Hong Kong, Bernard Orr and the Beijing newsroom; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Although international travel may not return immediately to pre-pandemic levels, companies, industries and countries that rely on Chinese tourists will get a boost in 2023, according to analysts. Elsewhere in the world, Cambodia, Mauritius, Malaysia, Taiwan, Myanmar, Sri Lanka, South Korea and Philippines are also likely to benefit from the return of Chinese tourists, according to research by Capital Economics. Saxon said he expected China’s outbound international travel to fully recover by the year end. “Generally, individuals are pragmatic and countries will welcome Chinese tourists due to their spending power,” he said, adding that countries may remove restrictions quickly when the Covid situation improves in China. “It will take time for international tourism to get going, but it will come rushing back, when it happens.”

☆ Mercedes to launch vehicle-charging network, starting in North America
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Mercedes-Benz sign is seen on Mercedes-Benz EQE, an all-electric sedan, during International Motor Show Auto 2022 in Riga, Latvia April 30, 2022. REUTERS/Ints KalninsBERLIN, Jan 5 (Reuters) - Mercedes-Benz (MBGn.DE) is poised to invest billions of euros to build 10,000 fast-charging points in North America, Europe and China by 2030, the luxury carmaker said on Thursday. The carmaker will commence construction in North America this year, targeting 2,500 charging points at 400 locations across most U.S. states and Canada by 2027, it said at the CES car show in Las Vegas which runs from Jan. 5-8. The United States has around 140,000 public EV chargers, according to July 2022 data from the National Renewable Energy Laboratory. Still, the region requires at least 3.4 million charging points by 2030 to meet an expected rise in demand, the study said.

☆ The labor shortage is bringing job seekers all kinds of new perks: Pick-your-pay, student-loan benefits, bonuses, and flexible work
▼ + stars: | 2023-01-05 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

A greater number are also offering remote work options, educational benefits, and fertility services. It's not just about remote work, though that remains one of the most important benefits for many workers. "What we're also seeing is that there are different approaches to hybrid work that people are exploring." This comes as more companies are outsourcing talent from lower cost-of-living countries after the pandemic made remote work more feasible. Some of these companies are also giving staffers the option of shorter workweeks and remote work.

☆ It's official: Remote work is going to make it easier to buy a home
▼ + stars: | 2023-01-04 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

Remote work pushed housing trends into warp speedIn some ways, the pandemic's housing shifts were a long time coming. The shift to remote work also hastened many people's desire for more space. Across the country, remote workers chose to part ways with roommates or seek out larger homes. Elon Musk asserted his authority at Twitter by putting an end to remote work. On the other hand, as my colleague Aki Ito previously argued, a recession could further ingrain remote work as employers look to cut spending on real estate.

☆ The $360 billion electric car battery market will determine the fate of electric vehicles
▼ + stars: | 2023-01-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +14 min

There's also money to be made: The EV battery market could hit $360 billion by 2030, according to McKinsey. At Insider, we've looked at white-hot EV battery technologies that give automakers the EV performance they need at the price their customers want. We've investigated how automakers are securing enough battery supply, especially amid the call for domestic sourcing brought on by requirements in President Joe Biden's climate bill. It just led a $400 million investment into the little-known EV battery startup that could make it work. The soon-to-be $339 billion battery industry is on a hiring tear to power the shift to electric cars.

☆ Some bosses are using the threat of a possible recession this year to give workers an ultimatum: Come back to the office or be fired
▼ + stars: | 2023-01-03 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

Some companies have been threatening to fire workers who don't return to the office, The Wall Street Journal reported. Bosses are gaining leverage over employees due to recession anxiety. But most people will likely keep their jobs in the event of a recession, experts say. That's because the recession that could hit this year is giving employers a leg to stand on in their pandemic-long fight to get workers back in the office. A survey from Insight Global last summer found that 78% of US workers are worried about losing their jobs during the next recession.

☆ The race to make electric cars cheaper is making electric cars more expensive
▼ + stars: | 2023-01-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Electric cars aren't exactly the most affordable right now. The world of batteries influences your EV's price tagAutomakers are pouring more than $515 billion into all-electric lineups over the next several years. Mercedes is only making newly launched cars electric starting in 2025. Scaling up will inherently make electric cars less expensive over time. But, driving costs back down, he says: "The lithium prices will trigger more supply to enter the market."

☆ How managers can help make their workers happier in 2023
▼ + stars: | 2023-01-01 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +4 min

This matters for companies, in part because more engaged workers are linked to things businesses want — things like productivity and profitability. Employees who feel supported by their bosses are also more likely to feel happier and less likely to have chronic health conditions. The takeaway for managers is clear: Connect each employee's work to the company's larger purpose. Empathy also plays a big role in making workers feel more engaged at work. Business-leadership researchers at McKinsey & Co. said in a 2021 report that more managers needed to prioritize mental health.

[1/2] A Hainan Airlines aircraft is seen at Beijing Capital International Airport, amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 27, 2022. About 62% of tickets to and from China were sold by Chinese carriers and 38% by foreign carriers in 2019, ForwardKeys data shows, reflecting the strong outbound market dominating traffic flows. "Foreign airlines don't have that flexibility and it will be hard for them to forecast and project how fast demand returns on their China routes," he added. Many foreign carriers also retired large numbers of widebody planes during the pandemic and have struggled to add capacity even before China opened. TIMING OF REBOUNDThe Chinese travel industry had expected a border opening around March and was not prepared for the Jan. 8 date, according to a research note from Tianfeng Securities.

☆ Princeton University student who went missing on campus died by suicide, prosecutors say
▼ + stars: | 2022-12-29 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

The Princeton University student who went missing on campus and was found dead in October died by suicide, local prosecutors announced Wednesday. The cause of death of Misrach Ewunetie, 20, was “bupropion, escitalopram and hydroxyzine toxicity,” the Mercer County Prosecutor’s Office said Wednesday, unveiling the autopsy results. Princeton University said in a statement Wednesday: "Our hearts go to Misrach’s family and friends, and to the wider campus community that has been shaken by this tragedy." Her brother, Universe Ewunetie, previously told NBC News their family is originally from Ethiopia and his sister grew up in Euclid, Ohio. You can also call the National Suicide Prevention Lifeline at 800-273-8255, text HOME to 741741 or visit SpeakingOfSuicide.com/resources for additional resources.

☆ FanDuel's Amy Howe tries to balance pragmatism, humility, and profitability — all while being a trailblazer in a male-dominated industry
▼ + stars: | 2022-12-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

As the CEO of FanDuel, Amy Howe accomplished a feat this year that so far no other US sports-betting platform has been able to achieve: profitability. Seeking constant innovationThis year Howe launched FanDuel TV, a 24-hour television network, which features a mix of studio programming and live sports. She also sealed deals with the WNBA and the New York Yankees, making FanDuel the official sportsbook partner and official daily fantasy partner for the league and team. At the SBC Summit North America trade show and conference this year, she described the female market as an "untapped opportunity" and detailed a number of FanDuel's initiatives to bring more women bettors into the fold. "We're always a little bit paranoid about making sure that we can continue to maintain that position," Howe told Insider last year.

☆ 2022 was the year automakers figured out how to make electric cars really work
▼ + stars: | 2022-12-28 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

It was the year the industry (and other stakeholders) figured out how to make electric cars actually work. Here's a look at what made 2022 so important for the EV space — and why 2023 and beyond will likely be even more significant. Momentum this year showed the EV space just what it needed in terms of charging. But in 2022, EVs accounted for 5% of US new-car sales — what some called a tipping point. But the legacy auto companies weren't exempt from some of these challenges, and some of those problems trickled down to customers.

LONDON, Dec 27 (Reuters Breakingviews) - One of China’s biggest exports in 2023 will be its social e-commerce phenomenon. There’s early evidence that selling goods over live social networking works beyond the People’s Republic. Live online shopping revenue will help offset shrinking marketing budgets. By contrast, consultancy McKinsey projects U.S. social media e-commerce sales will increase 20% annually over the same span, to $80 billion. Such anecdotes are what will make e-commerce go viral on Western social media.

News of the loosening lifted stock markets worldwide, with luxury shares in particular benefiting. Shares in LVMH (LVMH.PA), the world's biggest luxury group and Europe's number 1 company by market capitalisation, were up 2.7% while Cartier-owner Richemont (CFR.S) rose almost 4%. Before the current slowdown, it had for years been the fastest growing region, with young, urban, middle class professionals powering the luxury market by splashing out on Hermes' 10,000 euro-plus ($10,633) Birkin handbags and Gucci's 1,000 euro fur-lined loafers. According to a recent report by the McKinsey consultancy, while non-luxury fashion sales are expected to rise between 2% and 7% in 2023, luxury sales should climb 9% to 14% over the same period. ($1 = 0.9405 euros)Reporting by Silvia Aloisi; Editing by Louise Heavens Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Meet 3 remote workers who negotiated for better pay, workplace flexibility, or the right to quiet quit — and won
▼ + stars: | 2022-12-27 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +7 min

Remote work has become increasingly popular, and make-or-break for many Americans when choosing jobs. Workers are using their current bargaining power to ask for better pay, flexibility, and work-life balance. Insider talked to three remote workers about how they did so. That's because remote work has changed his life for the better, he said. "Work was definitely a thorn in my side that really affected my entire life," she told Insider.

☆ Eyeliner Out of Stock? Blame TikTok
▼ + stars: | 2022-12-22 | by ( Liz Young | ) www.wsj.com time to read: +7 min

Sonya Dube went to buy more of one of her favorite makeup products, a Charlotte Tilbury highlighter, this summer only to find it was out of stock—again. So, it was only natural that Ms. Dube turned to TikTok to document her exasperation at not being able to find another bottle. Viewers often can click a link to buy an item right away, making the shopping experience nearly seamless—if the product is in stock. Charlotte Tilbury has sought to adapt its supply chain to respond to customer demand as products go viral, a company spokesperson said. “We do our best to hold enough stock to get us through moments like these,” Ms. Schakler said.

☆ Fast-Fashion Brands Like Zara, Shein Create Mountains of Waste From Holiday Shopping, Returns
▼ + stars: | 2022-12-22 | by ( Gad Allon | ) www.businessinsider.com time to read: +12 min

A report by the Ellen MacArthur Foundation found that, globally, less than 1% of used clothing is actually recycled into new clothes. Recycling clothes is expensive, and the existing technology isn't adequate to handle the volume needed to make a difference for the planet. While recycling clothing can be expensive, there are some companies that have figured out a way to limit waste by recycling. Time to be honestIn order to fix fast fashion, companies need to start being more transparent about their sustainability practices. It also ensures that the waste companies produce is out in the open.

☆ The White House wants to entice Americans back to work by giving them more benefits
▼ + stars: | 2022-12-22 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

A top Biden economist said the president is looking to fix the labor shortage by making it easier to get back to work. That includes giving people childcare options and lowering "costs for consumers." Deese is also referencing the high inflation that the Federal Reserve is fighting to curb, and that Americans are struggling to keep up with, adding that the White House will potentially take administrative actions to reduce the price of housing. Deese was not specific about what White House economists' plans would be beyond that, but he suggested childcare was key to making sure that parents would be able to work. Such provisions may be hard for Biden to pull off after losing control of the House to Republicans this year.

☆ Climate change will become a CEO dealbreaker
▼ + stars: | 2022-12-22 | by ( John Foley | ) www.reuters.com time to read: +6 min

While StarMark Financial again delivered record earnings in 2022, my own views on climate change are no longer compatible with my duties as the CEO of a global financial firm. A Pew Research survey last year showed that respondents in nine countries including the United Kingdom, France and Spain ranked climate change as the most pressing of five threats to the country. While we believe that supporting measures that advance climate change mitigation creates value, it is clear that some large public-sector clients disagree. At the same time, some Democrat-led local governments have threatened to take business away from us if we take too mild a stance on climate risk. I believe we face the risk that climate change will prove catastrophic within our lifetimes.

☆ Rolex watches have outperformed gold, real estate, and stocks over the past 10 years, and sellers believe their future value will continue to deliver
▼ + stars: | 2022-12-21 | by ( Dominick Reuter | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Prices for luxury watches like Rolex, Patek Philippe, and Audemars Piguet skyrocketed in 2022. Demand for second-hand luxury watches will likely stay high next year, according to Chrono24 founder Tim Stracke. Around 14% of the platform's sales come from Rolex watches, and 80% of those are pre-owned. "The new programme makes it possible to purchase pre-owned watches that the brand itself has certified and guaranteed. Its aim is to bring added value to the existing supply of pre-owned Rolex watches.

☆ 2022 in gender equality: Share of female Fortune 500 CEOs hits all-time high, but other progress stalls
▼ + stars: | 2022-12-20 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Women continue to face a significant wage gap that has hardly budged over the last 15 years, with women of color bearing the brunt of the disparity. The year "2022 really is a mixed bag when it comes to gender equality," says Melissa Boteach, the vice president for income security and child care/early learning at the National Women's Law Center. Aside from that victory, there has been little progress in closing the gender wage gap over the past decade. This year, the wage gap narrowed by one penny. The wage gap Black women face narrowed by about four cents in one year, while Latinas' wage gap didn't budge at all.

☆ Black women are worn out from discrimination in corporate America. They're leaving to launch their own businesses, creating a hole for talent across industries.
▼ + stars: | 2022-12-19 | by ( Alexandra York | Marguerite Ward | ) www.businessinsider.com time to read: +8 min

Black women are being pushed out of corporate America by microaggressions, belittling, and burnout. Their departures are likely to hurt innovation and profits in corporate America. For Black women facing disrespect on the job, those pledges of a more equitable workplace can seem hollow. Insider spoke with Stewart and two other Black women who've left the corporate world since 2020 to start their own businesses. They're among those making Black women the nation's fastest-growing group of entrepreneurs.

☆ Analysis-Bumper green aluminium output is good news for carmakers, and climate
▼ + stars: | 2022-12-17 | by ( Eric Onstad | ) www.reuters.com time to read: +6 min

Next year’s forecast increase in “green aluminium” output would reduce that by 13 million tonnes, or about 1.2%. Polestar said it pays slightly more for green aluminium, partly due to the administrative costs of changing suppliers, but did not say how much more. Producers, however, are still managing to sell some of their low-carbon output at higher prices under quarterly and annual contracts. Rising output of both will keep green premiums relatively low in the coming years, said Marcelo Azevedo at the McKinsey consultancy. GRAPHIC: Abundant Supplies of Green Aluminium - here

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