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☆ The number of low-wage U.S. workers is dropping—but 23% still make less than $17/hr
▼ + stars: | 2024-07-23 | by ( Gili Malinsky | ) www.cnbc.com time to read: +6 min

"As they continue to annually increase their minimum wages, the number of low-wage workers does go down," says Henderson. Similarly, many states hiked their tipped minimum wages — or did away with a tipped minimum altogether. 53% of tipped wage workers earn less than $17 per hourAll that said, there are still nearly 40 million workers making less than $17 per hour. Nationwide, more than half, 53% of tipped wage workers earn less than $17 per hour, according to the report. A third, 33% of Latin or Hispanic workers and 32% of Black workers earn less than $17 per hour, compared to 21% of white workers, according to the report.

Persons: Kaitlyn Henderson, Henderson, Workers aren't, Judy Conti Organizations: Federal, Health, Education, Labor, Pensions, " Workers, Oxfam, Workers, Institute, National Employment Law, Bureau, National Women's Law, BLS, Agriculture, National Center, Farmworker Health, Census Bureau Locations: New York City, Washington, Maine, Oregon, EPI, Mississippi, Oklahoma, Louisiana, Kentucky, Texas, North Carolina, Mexico, West Virginia

☆ The cofounder of MoviePass is raising $20 million from Amazon and Alphabet for a longevity-focused venture studio
▼ + stars: | 2024-07-23 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

MoviePass ousted Watt, along with its other cofounder Stacy Spikes, from the company two years before filing for bankruptcy. Since then, Watt has been building Share Ventures, a venture studio that's now closed on nearly $20 million of funding from backers including Amazon and Alphabet. Share Ventures has quietly been spinning up those startups and plans to start announcing them in the coming months. Oral health company Feno, one of Share Ventures' portfolio companies, is working on a smart toothbrush powered by AI. Share VenturesAI is supercharging the venture studio modelThreats to the venture capital industry, from high interest rates to the explosion of AI, aren't letting up.

Persons: —, Watt, MoviePass, Stacy Spikes, Spikes, he'd, It's, Smart, that's, they're Organizations: Service, HBO, Business, Share Ventures, Ventures, Oral

☆ How Venezuela’s election could upend the geopolitics of the Americas
▼ + stars: | 2024-07-23 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +6 min

Caracas CNN —It would be easy to dismiss this Sunday’s presidential election in Venezuela as a fait accompli. The opposition campaign has re-energized its bases, and the candidature of Edmundo González has attracted widespread support in Venezuela and abroad. A chance to rebuild Venezuela’s economic power“On the ballot is how long it’ll take to fix Venezuela’s economy,” said Asdrubal Oliveros, founder of Caracas firm Ecoanalitica, in his weekly podcast on July 8. Once the fifth-largest economy in Latin America, today Venezuela’s economy has shrunk to the equivalent of a medium-sized city, smaller than say, Milwaukee, according to data from the IMF. As Venezuela’s economy has crumbled, around eight million Venezuelans have already fled their country, many of them scattered across South America.

Persons: Nicolas Maduro, ”, –, Laboratorio de Paz, Edmundo González, Asdrubal Oliveros, Andres, Maduro, Edmundo Gonzalez, Maria Corina Machado, Gabriela Oraa, Gonzalez, Consultores, Putin, Xi Jinping, who’s, “, Donald Trump Organizations: Caracas CNN —, Laboratorio, IMF, Andres Bello Catholic University, Central University of Venezuela, of American, World Bank, Inter, American Development Bank, Supreme, CNN Locations: Caracas, Venezuela, Ecoanalitica, Latin America, Milwaukee, AFP, United States, Americas, South America, Venezuelan, America, China, Iran, Russia, Miami, Cuba, Maduro, of American States, Mercosur, Algiers, Brussels, Buenos Aires, Spanish, Washington, Brexit, neofascism, Europe, India, Turkey, Philippines

☆ U.S., Japan to hold high-level security talks on nuclear deterrence
▼ + stars: | 2024-07-23 | by ( ) www.cnbc.com time to read: +3 min

Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence", a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies. Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence," a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies. U.S. Defense Secretary Lloyd Austin will also hold three-way talks with his counterparts from Japan and South Korea. The security talks with Japan will also include efforts to deepen cooperation between defense industries and upgrade command structures to improve coordination between their militaries . "These historic 2+2 talks will cement our shift from a focus on Alliance protection to one of Alliance projection," U.S. ambassador to Japan Rahm Emanuel said.

Persons: Pacific Affairs Daniel Kritenbrink, we're, Antony Blinken, Lloyd Austin, Rahm Emanuel Organizations: U.S ., U.S, State, East, Pacific Affairs, U.S . Defense, Japan, United States, Alliance, East Asia, Self Defense Forces Locations: Japan, United States, Washington, Tokyo, U.S, China, Russia, North Korea, East Asia, South Korea, Pacific, Asia

☆ Barbara Corcoran shares her No. 1 strategy for stopping unhealthy competition at work: I put it ‘before anything’
▼ + stars: | 2024-07-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Picture Wall Street stockbrokers frantically trying to beat sales quotas — or sales representatives fighting for commissions. For real estate mogul Barbara Corcoran, the trick to strengthening relationships amongst her employees is being the fun boss. "In sales, you like who you're working with, but you don't really, totally like them because they're going after your market. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Barbara Corcoran as a panelist. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: stockbrokers, —, Barbara Corcoran, it's, Tom Gimbel, Gimbel, Bob Nelson, Nelson, Corcoran Organizations: Employees, Taiwan's National Central University, Harvard Business, CNBC

☆ CrowdStrike shares tumble as fallout from global tech outage continues
▼ + stars: | 2024-07-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

CrowdStrike shares slipped as much as 13% on Monday morning, as the cybersecurity software company continued to help clients across industries recover from an outage that took millions of Microsoft Windows devices offline last week. The incident ensnared 8.5 million Windows devices, less than 1% of the global total, Microsoft said. CrowdStrike shares fell 11% on Friday, but the fallout was not over yet. Guggenheim Securities downgraded its rating on CrowdStrike shares to neutral from buy on Sunday. Goldman Sachs maintained their buy rating on CrowdStrike shares in a note issued early Monday.

Persons: George Kurtz, CrowdStrike, CNBC's Jim Cramer, John DiFucci, Goldman Sachs, Gabriela Borges, Dave DeWalt Organizations: Microsoft, Guggenheim Securities, McAfee, Intel Locations: Laguna Beach , California, U.S, CrowdStrike

☆ CrowdStrike outage: What we know 4 days after a software update brought down computer systems around the world
▼ + stars: | 2024-07-22 | by ( Zoe Sottile | ) edition.cnn.com time to read: +7 min

CNN —Four days after a faulty software update from a cybersecurity company unexpectedly brought down computers and technical systems across the world, airlines and some other companies are still experiencing delays and other technical problems. The outage was related to a software update rolled out by CrowdStrike, a major US cybersecurity firm. The issue is specific to Falcon, one of CrowdStrike’s main software products, and is not impacting Mac or Linux operating systems, according to the advisory. US-based carriers American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, SunCountry and Frontier Airlines all reported issues on Friday. More than 1,200 Delta flights were canceled on Sunday, after the carrier canceled 1,208 flights on Saturday, according to FlightAware.

Persons: ” –, Patrick Anderson, —, CrowdStrike, “, George Kurtz, Kurtz, Crowdstrike, United, Delta, Pete Buttigieg, Ed Bastian, ” Buttigieg, Bastian, it’s, David Kennedy, “ It’s, ” Kennedy, “ There’s, Buttigieg, Brigham, Dana Organizations: CNN, Microsoft, Anderson Economic Group, Fortune, Travelers, Marriott International, American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, Frontier Airlines, Delta Airlines, Delta, Delta Air, Department, Turkish Airlines, Jetstar, Hong Kong Express, Cebu Pacific, Binary Defense, Mass, Penn Medicine, Mount, Mount Sinai Health, Emory Healthcare, Farber Cancer Institute, New, Memorial Sloan Kettering Cancer Center, Government, Social Security, Department of Motor Vehicles, UPS, FedEx Locations: Delta, FlightAware, Jetstar Japan, Hong, Massachusetts, Pennsylvania, Mount Sinai, New York, Atlanta, Boston, Arizona, Alaska, Washington ,

☆ Gen Zers can be weird in interviews. A recruiter explained how it sets them back.
▼ + stars: | 2024-07-22 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

But a senior recruiter said they may be making mistakes early on that set them back. The other half is that Gen Zers have a bad reputation among hiring managers. Red flagsWhen companies started filling roles again as global COVID-19 lockdowns started to lift, employers were "throwing money at candidates," Levine said. "And there's a lot of people who are just more old-school and maybe turned off by the rumors of Gen Z." They should tailor their resumes and applications to specific roles rather than sending the same version to multiple job postings.

Persons: —, Emily Levine, Levine, Zers, lockdowns, Gen, she's, they're, She's, I've, Zoomers, Levins Organizations: Service, Group, Business, Companies, Jobs

☆ M&A environment is improving, says Honeywell Aerospace CEO
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailM&A environment is improving, says Honeywell Aerospace CEOJim Currier, Honeywell Aerospace CEO, discusses M&A and how the firm is developing technology in the defense and aerospace industries.

Persons: Jim Currier Organizations: Honeywell, Honeywell Aerospace

You can get down payment assistance through CHFA's Down Payment Assistance Program or the Time To Own program. VermontThe Vermont Housing Finance Agency offers mortgages, down payment assistance, a first generation homebuyer program, and a mortgage credit certificate. NebraskaThe Nebraska Investment Finance Authority is another state housing finance agency that offers programs for first-time and repeat buyers alike. State first-time homebuyer programs FAQsHow do first-time homebuyer programs differ by state? You may be able to combine multiple forms of state-backed first-time homebuyer assistance, or get state assistance in addition to other, unrelated programs.

Persons: you'll, CHFA, DSHA, MaineHousing, NJHMFA, MHDC, UHC Organizations: Connecticut Housing Finance Authority, FHA, Housing Authority, Maine MaineHousing, Loan, Massachusetts MassHousing, New Hampshire New Hampshire Housing, New Jersey Housing, Mortgage Finance Agency, New Jersey Police, New York Mortgage Agency, Pennsylvania Housing Finance Authority, Vermont Housing Finance Agency, Alabama Housing Finance Association, Arkansas, Finance Authority, of Columbia Homebuyers, DC Housing Finance Agency, D.C, Florida Housing Finance Corporation, Georgia Department of Community Affairs, Georgia, Plus, Kentucky Housing Corporation, Louisiana Housing Corporation, Maryland Department of Housing, Community Development, Mississippi The Mississippi Home Corporation, North Carolina Housing Finance Agency, Carolina South, Carolina South Carolina Housing, Palmetto, SC, South Carolina National Guard, Tennessee Housing Development Agency, Virginia Virginia Housing, Virginia Department of Housing, West, West Virginia The West, West Virginia The West Virginia Housing Development Fund, Illinois Housing, Authority, Indiana, Indiana Housing, Community Authority ., Iowa Finance Authority, IFA, Kansas Housing, Assistance, Michigan, Housing Development Authority, Minnesota Housing Finance Agency, Missouri Housing, Commission, Nebraska, Nebraska Investment Finance Authority, North, North Dakota Housing Finance Agency, Ohio Housing Finance Agency, South Dakota Housing Development Authority, Economic Development Authority, Arizona The, Arizona The Arizona Industrial Development Authority, New Mexico Mortgage Finance Authority, Oklahoma, Oklahoma Housing Finance Agency, Texas The, Affordable Housing Corporation, Texas, Homes, Texas Heroes, Alaska Housing Finance Corporation, California Housing Finance Agency, Colorado, Colorado Housing, Hawaii Housing Finance, Development Corporation . Idaho, Idaho Housing, Finance Association, Montana, Montana Montana Housing, Nevada Housing Division, Oregon Oregon Housing, Community Services, Utah Housing Corporation, Washington, Washington State Housing Finance Commission, Wyoming Community Development Authority Locations: Connecticut, Delaware, New Hampshire New Hampshire, New Jersey, York The State, Pennsylvania, Rhode, Vermont, Alabama, Arkansas, Washington ,, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, Carolina, Carolina South Carolina, Tennessee, Virginia Virginia, West Virginia, West Virginia The West Virginia, Illinois, Indiana Indiana, Community Authority . Iowa, Iowa, Kansas, Michigan, Minnesota, Missouri, NIFA, North Dakota, North, Ohio, OHFA . South Dakota, Wisconsin, WHEDA . Southwest, Arizona, Arizona The Arizona, Mexico, Oklahoma, Texas, Texas The Texas, TSAHC ., Alaska, California, Colorado, Hawaii, Idaho, Montana Montana, Nevada, Oregon Oregon, Utah, Washington, Wyoming, Chevron

Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond. How low demand can cause a housing market crashA sudden drop in homebuying demand can lead to a housing market crash. What a housing market crash would mean for homebuyersAnything is possible, and nobody has a crystal ball to see for certain what will happen in the housing market in the coming months and years. Preparing for a potential housing market crashRight now, you probably don't need to be preparing for the housing market to crash. Housing market crash FAQsWhat are the key signs of an impending housing market crash?

Persons: homebuyers, Fannie Mae's, Lawrence Yun, Yun, isn't Organizations: Housing Survey, National Association of Realtors, Housing Locations: exurbs, Chevron

☆ Trade partners remain important to U.S. rail industry, says Greenbrier CEO Lorie Tekorius
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade partners remain important to U.S. rail industry, says Greenbrier CEO Lorie TekoriusLorie Tekorius, CEO of The Greenbrier Companies, joins CNBC's 'The Exchange' to discuss how a new administration might impact the freight and railway industries, infrastructure, and more.

Persons: Lorie Tekorius Lorie Tekorius Organizations: Email Trade, Greenbrier, The Greenbrier Companies Locations: U.S

☆ Global markets rise after Biden exit
▼ + stars: | 2024-07-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Global markets made solid gains after President Joe Biden dropped out of the 2024 presidential election Sunday and endorsed Vice President Kamala Harris as the Democratic nominee. European markets were higher, and Asian markets closed mostly lower. But “the fact that Biden endorsed Kamala Harris reduces uncertainty,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “Markets are increasingly focused on the US presidential election in November,” wrote Deutsche Bank’s Henry Allen in a research note on Monday. Stocks tumbled toward the end of last week as a turbulent election cycle and a global tech outage rocked technology stocks in particular.

Persons: Joe Biden, Kamala Harris, Donald Trump, unwind, Harris, Biden, ”, Jay Hatfield, Trump, ” Hatfield, Deutsche Bank’s Henry Allen, Lyndon Johnson, Stocks Organizations: New, New York CNN — Global, Democratic, Dow, Nasdaq, Trump, Infrastructure Capital Advisors, Deutsche Bank, “, Deutsche Locations: New York

☆ Oil prices rise as investors look for signs U.S. rate cuts to begin
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +1 min

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States. Oil prices rose in early trade on Monday as investors keep a lookout for signs of a rate-cut cycle expected to begin as soon as September. "Since the June FOMC meeting, inflation and labor market data have signaled that disinflation and labor market rebalancing are in place, which we expect will allow the Fed to begin its interest rate cutting cycle in September," ANZ Research said in a note. Slower-than-expected economic growth of 4.7% for China in the second quarter sparked concerns last week over the country's demand for oil and continues to weigh on prices. The 60-point document's publication follows last week's closed-door meeting of the Communist Party's Central Committee that takes place roughly every five years.

Persons: Phillips, Joe Biden, Kamala Harris, Republican Donald Trump Organizations: Brent, U.S . West Texas, Fed, ANZ Research, U.S . Federal Reserve, Market, Republican, Communist Party's Central Committee Locations: Linden , New Jersey, United States, U.S, China

☆ Startups that aren't using AI are already obsolete, says the man known as the 'father of modern entrepreneurship'
▼ + stars: | 2024-07-22 | by ( Polly Thompson | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. "If you're not playing with all the tools and trying to build apps on top of them, you're already obsolete," Blank told BI. "The pieces of the lean startup are just so obvious to me to be automated and then strung together. But then a lot of it won't tell you when it's not working," Blank told BI. From Blank's perspective, one side of entrepreneurship that is safe in the emerging AI world is the role of the visionary founder.

Persons: —, Steve Blank, Blank, It's, it's Organizations: Service, United States Census Bureau, Business, Harvard, Modern Entrepreneurship, Stanford, Silicon, Founders

☆ The hottest new job in AI: chief ethics officer
▼ + stars: | 2024-07-21 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

The buzzy bot's technology — generative AI — could write emails, produce code, and materialize graphics in minutes. Generative AI can hallucinate, spread misinformation, and reinforce biases against marginalized groups if it's not managed properly. That's where a chief ethics officer comes in. AdvertisementRight now, though, companies aren't hiring people into these roles fast enough, according to Steve Mills, the chief AI ethics officer at Boston Consulting Group. She also engages with government leaders and other chief ethics officers.

Persons: —, ChatGPT, it's, Steve Mills, Mills, Shankar, Christina Montgomery Organizations: Service, . Companies, Mckinsey & Company, Business, Boston Consulting, Fortune, International Association of Privacy Professionals, Intelligence Locations: Var, Science

☆ China Shows Few Signs of Tilting Economy Toward Consumers in New Plan
▼ + stars: | 2024-07-21 | by ( Keith Bradsher | Chris Buckley | ) www.nytimes.com time to read: +1 min

China engaged in a monthslong drumbeat of anticipation that a Communist Party leaders’ meeting would show the way to a new era of growth for the slowing economy. The outcome was a plan released on Sunday offering more than 300 steps on everything from taxes to religion. Many economists had called for a comprehensive effort to rebalance the Chinese economy away from investment and toward consumer spending. The party promised to “promote the development of strategic industries” in eight sectors, from renewable energy to aerospace. Those were essentially the same industries as in the country’s decade-old Made in China 2025 plan to replace imports of high-tech goods with locally produced products, as part of a national push for self-reliance.

Persons: ’, — Organizations: Communist Party, Communist Party’s Central Committee Locations: China

☆ China is doubling down on homegrown tech. Goldman Sachs shares its chip plays
▼ + stars: | 2024-07-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

From an investment perspective, Goldman Sachs analysts on July 15 pointed out there are notable catalysts for certain semiconductor and artificial intelligence China stock plays from August to December. Officials told reporters about plans to speed up "emerging and future industries," and expand the development of tech talent in China. Ways to play the space The bank has buy ratings on at least two Chinese companies in the industry. The Goldman analysts are also optimistic about growth for Chinese fabless companies, the businesses which design chips but outsource the manufacturing process. Montage generates nearly all of its revenue from servers, while Will Semiconductor draws about half of its revenue from smartphones, and one-third from automobiles, according to the Goldman report.

Persons: Goldman Sachs, Biden, Goldman, 3Q24E Organizations: Officials, Microsoft, Nvidia, Taiwan Semiconductor, ACM Research, Goldman, Will Semiconductor Locations: Beijing, China, TSMC, U.S, Shanghai, Friday's

☆ The manager behind a pair of top-3% growth funds shares a proven strategy for playing the AI boom — and 6 of her favorite stocks to buy now
▼ + stars: | 2024-07-21 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Ankur Crawford, who co-manages the top-1% Alger Capital Appreciation Fund (ACAAX) and top-3% Alger Spectra Fund (SPECX), has done just that. But many in markets believe that AI stocks' feverish rally is running out of steam as investors rotate away from technology companies. But both funds target two types of growth stocks, Crawford said: high-unit-volume powerhouses that control their industries, and established firms in the midst of a significant makeover. "They're usually market-dominant players; they're changing their markets," Crawford said of the former group. 6 top growth stocks to buy nowAfter outlining the strategy that her funds follow, Crawford named six stocks she's bullish on that are in both funds.

Persons: —, Ankur Crawford, Crawford Organizations: Service, Business

☆ Trump says he loves Elon Musk even though he never heard of the $45 million-a-month donation plan from the billionaire
▼ + stars: | 2024-07-21 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Read previewDuring a rally in Michigan on Saturday, Donald Trump had high praise for Elon Musk, calling the Tesla CEO a "great" and "brilliant guy." Musk came out with an endorsement of Trump on July 13, the day of the assassination attempt. "I read — I didn't even know this, he didn't even tell me about it, but he gives me $45 million a month," Trump said. Related storiesDuring the Saturday rally, Trump said he thinks electric cars are "incredible, but they're not for everybody." It will only help Tesla," Musk said on X on July 16.

Persons: —, Donald Trump, Elon Musk, Musk, Trump, Elon, DJT, they're, Biden, Tesla Organizations: Service, Trump, Street, Business, Environmental Protection Agency, Twitter Locations: Michigan

☆ CrowdStrike imposters are luring victims into scams after global tech outage
▼ + stars: | 2024-07-20 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Fake tech support scams have emerged after the CrowdStrike outage disrupted systems worldwide. The outage was caused by a defective software update from CrowdStrike, not a cyberattack. CrowdStrike warned about phishing and fake websites and shared a list of impersonators. AdvertisementTech support scams are popping up after Friday's CrowdStrike debacle, which disrupted computer systems worldwide and across industries. The meltdown was triggered by a faulty software update CrowdStrike released in the morning, leaving businesses and others scrambling for solutions.

Persons: CrowdStrike, —, Friday's Organizations: Service, Business

☆ This is the 2nd time CrowdStrike CEO George Kurtz has been at the center of a global tech failure
▼ + stars: | 2024-07-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

A faulty update from CrowdStrike caused a global tech outage on Friday. CrowdStrike CEO George Kurtz has been down this road before. As CTO of McAfee in 2010, Kurtz was at the center of another similar tech debacle. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: CrowdStrike, George Kurtz, Kurtz, — Organizations: McAfee, Service, Microsoft, Business

☆ China economy and employment: People who used to work for major tech giants are now doing manual labor
▼ + stars: | 2024-07-20 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +8 min

Li, 27, is part of a growing base of Chinese workers swapping high-pressure office jobs for flexible blue-collar work. But these firms are slowly losing their appeal as China’s economy faces headwinds including a property crisis, declining foreign investment and slumping consumption. The trend to move from professional to manual jobs comes amid surging demand for blue-collar workers, according to Chinese recruitment platform Zhaopin. And blue-collar workers’ pay has also gone up, attracting more people to jobs they might have previously avoided. Pressure of another kindBut some wonder if blue-collar work is truly the stress-free refuge people like Li and Wang imagine it to be.

Persons: Hong Kong CNN — Leon Li, ”, Li, “, Alice Wang, Wang, –, Larry Hu, Zhang Yuxiao, David Goodman, commenter Organizations: Hong Kong CNN, CNN, National Bureau of Statistics, Workers, NBS, University of Sydney’s China Studies Centre Locations: China, Hong Kong, Hangzhou, Chengdu, –, Macquarie, Shanghai

☆ The CrowdStrike fail and next global IT meltdown already in the making
▼ + stars: | 2024-07-20 | by ( Kevin Williams | ) www.cnbc.com time to read: +3 min

The reality, however, was much more mundane: a botched software update from the cybersecurity company CrowdStrike. "In this case, it was a content update," said Nick Hyatt, director of threat intelligence at security firm Blackpoint Cyber. And because CrowdStrike has such a broad base of customers, it was the content update felt around the world. In this case, the content update was tied to the CrowdStrike Falcon monitoring software. Software updates should be rolled out incrementally One lesson from the global IT outage, O'Neill said, is that CrowdStrike's update should have been rolled out incrementally.

Persons: Nick Hyatt, CrowdStrike, Hyatt, Harun Ozalp, Eric O'Neill, O'Neill, Peter Avery, Avery Organizations: Microsoft, Anadolu, Getty, FBI, Visual Edge Locations: Ankara, Turkey

☆ Flight cancellations ease after IT outage but some disruptions linger
▼ + stars: | 2024-07-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Flight cancellations and delays eased on Saturday as airlines worked to recover from a global IT outage sparked chaos at airports and for other industries a day earlier. More than 1,200 flights were canceled on Saturday, with over 900 of them in the United States, according to flight-tracking site FlightAware. On Friday, more than 5,000 flights were canceled worldwide, with about 3,400 in the U.S. Over 12,000 U.S. flights were delayed. A software update from CrowdStrike that went awry led to a major outage of Microsoft systems for businesses around the world. About 7% of United's mainline flights were canceled on Saturday, down from 22% on Friday, according to FlightAware data.

Persons: Toby Enqvist Organizations: Microsoft, United, Delta Air Lines, Airlines Locations: United States, U.S

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