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☆ Layoffs are still historically low, so why does it feel like everyone's losing their job?
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The layoffs and discharges rate in January was 1.1%, which remains historically low. While BLS data may show a low US layoff rate overall, tech layoff announcements are important, given Pollak said that tech and finance are "synonymous with Americans' aspirations generally." "Those markets are very exposed to tech layoffs, and tech plays a disproportionate role in the economy," Terrazas added. Pollak told Insider that the layoffs at tech companies are "relatively small" and that "many companies also are not pursuing layoffs across the board." Despite the layoff rate being very low, job seekers may still be concerned about these headlines.

☆ U.S. Senate panel to vote to subpoena Starbucks CEO to testify
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, March 1 (Reuters) - A U.S. Senate committee will vote next week on whether to issue a subpoena for Starbucks (SBUX.O) Chief Executive Howard Schultz to testify at a hearing on the company's compliance with federal labor law. Senate Health, Education, Labor, and Pensions Committee chair Bernie Sanders said the committee will also vote to authorize a committee investigation into major corporations’ labor law violations. Schultz last month declined an invitation from 11 senators to testify on March 9. Reporting by David Shepardson; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Bernie Sanders is holding a vote to subpoena Howard Schultz for fighting Starbucks unionization
▼ + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Sen. Bernie Sanders announced he's holding a vote on issuing a subpoena for Starbucks CEO Howard Schultz. The Senate HELP chairman wants Schultz to testify on his company's fight against unionization. Sanders, the new chairman of the Senate Health, Education, Labor and Pensions Committee, also wants the committee to authorize an investigation into major corporations' labor law violations. Schultz rejoined Starbucks as interim CEO in April 2022 and will transition out of the role this month, the company wrote to Sanders in February. "A multi-billion dollar corporation like Starbucks cannot continue to break federal labor law with impunity," Sanders said.

☆ Treasury yields hold steady as investors digest Fed rate decision
▼ + stars: | 2023-02-02 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%. ET, yield on the 10-year Treasury was trading at 3.4055% after rising by less than a basis point. The 2-year Treasury yield fell by less than a basis point and was last trading at 4.1125%. U.S. Treasury yields were little changed on Thursday as investors digested the Federal Reserve's interest rate decision and assessed the outlook for monetary policy. On Wednesday, the Fed concluded its first meeting of the year with a 25 basis point rate hike.

☆ How the slang term 'rizz' became an internet obsession that stumped boomers (and even zoomers)
▼ + stars: | 2023-01-27 | by ( Kieran Press-Reynolds | ) www.businessinsider.com time to read: +4 min

The word 'rizz' originated with streamers Kai Cenat, Silky, and Duke Dennis. If you're chronically online or under the age of 25, you might know what "rizz" means. But it's a term so niche and siloed in certain streaming circles that even some zoomers are confused why it's suddenly everywhere. People have also invented an antonym of the phrase, negative rizz (or "L rizz"), to refer to someone so clumsy or awkward that they push people away. While Google Trends data still shows swaths of people searching and using the term, the official death of "rizz" may come when major corporations appropriate it.

Musk's comments add to a long-running debate over whether such advisers have too much sway over corporate decision-making. Academic reviews have found mixed evidence about the proxy advisers’ impact. U.S. Republican state officials have also weighed in, writing to the two advisory firms asking if their recommendations met their obligations to investors. Contrary to Musk, however, Republicans at the state and national level have also charged top passive fund managers themselves have grown too aggressive with their proxy votes, a claim fund managers deny. Tesla has faced its own disagreements with the proxy advisers.

☆ Debt ceiling fight threatens to deepen divide between GOP and corporate America
▼ + stars: | 2023-01-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +6 min

WASHINGTON — Corporate America’s warnings of a financial catastrophe if Congress fails to raise the debt ceiling are falling on deaf ears among key congressional Republicans who find themselves increasingly at odds with the party's longtime allies. Republicans, who for decades closely aligned with the business community, have largely downplayed the alarm bells sounded by business groups, corporate CEOs and Wall Street investors over the economic consequences of missing an early June deadline for action on Capitol Hill. Instead, many GOP lawmakers vow to seek spending cuts in exchange for passing legislation that would let the U.S. government keep paying its bills. “The business groups and the major economic agents in this country are still going to be very influential by once again reminding Congress about the severe consequences the U.S. will face if the debt ceiling is not raised,” said the political consultant with corporate clients involved in the debt ceiling debate. “I think a lot of Republicans in the House, in the Senate, will understand that.

☆ Google parent Alphabet is cutting 12,000 jobs
▼ + stars: | 2023-01-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —Google parent Alphabet is eliminating about 12,000 jobs, or 6% of its workforce, the company said Friday, in the latest cuts to shake the technology sector. “Over the past two years we’ve seen periods of dramatic growth,” Pichai said in the email. Google’s job cuts are just the latest in a bruising wave of tech layoffs, as inflation weighs on consumer spending and rising interest rates squeeze funding. “While layoffs from high-profile firms make the headlines, plenty of firms are desperate for more workers, especially tech workers. “The labor market is still so tight that many tech workers, and workers with other skills, are snapped up well before they need to collect an unemployment check.

☆ What the job market could look like in 2023, based on a surprisingly strong end to 2022
▼ + stars: | 2023-01-05 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

It could be a sign the 2023 job market will launch on strong footing, economists say, even with fresh staffing cuts announced this week. Meanwhile, there were 10.5 million job openings, or roughly 1.7 vacancies per available worker. "In aggregate, layoffs are still way lower than pre-pandemic," Pollak says. As of November, job openings ticked up for professional and business services, as well as manufacturing, and hiring shot up in health care and social assistance. Even finance openings and information openings are up compared with February 2020.

☆ Joe Biden's biggest successes and failures in his second year in office
▼ + stars: | 2022-12-31 | by ( Nicole Gaudiano | Brent D. Griffiths | ) www.businessinsider.com time to read: +15 min

His second year in office was marked by historic legislative achievements despite Democrats' razor-thin majority in Congress. Here are some of the highs and lows from Biden's second year:Success: UkrainePresident Joe Biden talks with Ukrainian President Volodymyr Zelenskyy outside the White House. Conservative New York Times columnist Bret Stephens in September called the "staggering gains" by Ukrainian forces "a victory for Joe Biden, too." Universal pre-K was included in a sweeping spending plan passed by House Democrats until their Senate colleagues cut that out too. Failure: InflationPresident Joe Biden arrives for an event focused on inflation and the supply chain at the Port of Los Angeles in June.

Several Latinos whose lives and work left a profound imprint on American institutions — from arts and entertainment to legal and civil rights — passed away in 2022. Cavazos began his education in a two-room schoolhouse on the King Ranch in Texas, where his father was a foreman. President Reagan named Cavazos Secretary of Education in 1988, making him the first Hispanic ever to serve in the U.S. Together, “Luis” and Maria” showed young audiences that Latinos were people who worked, fell in love and were part of their community. Her goals were to give Latinos a presence in the dance world, and to instill pride in Hispanic culture.

☆ Elizabeth Warren slams the Fed's Jerome Powell for 'pushing hard to get more people fired' as he continues to aggressively fight inflation
▼ + stars: | 2022-12-14 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve hiked interest rates again today, but not at the same fast pace as past months. On Wednesday, the Federal Reserve announced it would be increasing interest rates yet again, raising them 0.5 percentage points. "He's pushing hard to get more people fired because he thinks that is one way to help bring down inflation," Warren told HuffPost's Arthur Delaney, referencing Federal Reserve Chair Jay Powell. This isn't the first time Warren has sounded the alarm on continued interest rate hikes. The Federal Reserve isn't the only body that could take action: Congress could step in with legislation aimed at lowering prices.

☆ How to earn more money and increase your income through side hustles, according to 5 early retirees and entrepreneurs who have done it
▼ + stars: | 2022-12-10 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Insider spoke with entrepreneurs and early retirees about the lucrative side hustles they started. Below, Insider rounded up various side-hustle ideas from entrepreneurs and early retirees who found ways to diversify their income. Shan Shan Fu started selling face masks on Amazon and turned it into a robust e-commerce businessShan Shan Fu sells socks and tights (including the ones pictured) online. Courtesy of Shan Shan FuWhen the Covid-19 pandemic sent the US under lockdown in the spring of 2020, Shan Shan Fu had a lot of free time after work. She launched her e-commerce company, Millennials In Motion, in April 2020 and immediately started making money.

☆ Vanguard's decision to leave the world's biggest climate-finance group could impede Biden's plan to protect Americans' savings from the climate crisis
▼ + stars: | 2022-12-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Vanguard announced on Wednesday it's pulling out of an initiative to fight climate change. Biden previously proposed a plan to involve the financial sector in reaching net zero carbon emissions. As Insider previously reported, Biden last year released a report that focused on mitigating the financial risks climate change puts on people's retirements, pensions, savings, and more. However, Republicans have plans to increase oversight over Wall Street firms that are assessing climate change and prioritizing environmental, social and governance causes, known as ESG. Still, the world is making some progress toward fighting the financial risks of climate crisis.

☆ Most Japanese firms don't support PM Kishida, citing leadership, prices: Reuters poll
▼ + stars: | 2022-12-07 | by ( Rocky Swift | ) www.reuters.com time to read: +3 min

Dissatisfaction among major corporations mirrors public opinion polls showing dwindling support for Kishida amid scandals that have taken down three of his ministers. Among 400 companies polled, 63% of respondents said they did not support the administration. Almost 90% of companies polled said continuing inflation was the biggest risk they faced in 2023, and 68% said it should be a policy focus for the Kishida government. Still, that shows Japanese companies have got used to depreciation of the yen. The Reuters Corporate Survey, conducted for Reuters by Nikkei Research between Nov. 22 and Dec. 2, canvassed 495 big, non-financial Japanese firms on condition of anonymity, allowing them to speak more freely.

☆ Ford and GM are going head-to-head for the fastest-growing electric vehicle market: delivery vans
▼ + stars: | 2022-12-06 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Ford has pursued the commercial EV space through Ford Pro, while GM has tackled it with BrightDrop. This week's news mirrors the past several years of the two automakers one-upping each other with major EV investments. The commercial EV space has long been hindered by cost, a lack of viable products, and infrastructure questions. Monday, it announced it would produce its delivery vans at its factory in Canada and named DHL Express Canada as its first international customer. Ford Pro, the automaker's electric last-mile delivery unit, meanwhile, announced an order for 2,000 E-Transit vans from DHL this week.

☆ Parking lots are becoming as important as cars in climate change efforts
▼ + stars: | 2022-12-03 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +3 min

The parking lots where EVs recharge are a growing focus of construction efforts linked to climate change and carbon reduction. A law approved in France last month requires that parking lots with 80 or more spaces be covered by solar panels within the next five years. For the biggest parking lots, those with more than 400 spaces, three years has been granted to have at least half of the parking lot's surface area covered by solar. Similar renewable energy design ideas are expected to gain more market share in the U.S. if not necessarily through a federal mandate. The cost to install solar has dropped by more than 60% over the past decade, according to the Solar Energy Industries Association.

☆ An Ohio real-estate investor who boasted about his home-flipping portfolio on TikTok is projecting a $30,000 loss on one deal — and issued a somber warning to anyone trying to best the housing market
▼ + stars: | 2022-11-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Austin Rutherford told his 700,000 followers he will likely take a loss on a recent flip in Ohio. Real estate investor Austin Rutherford, who has over 700,000 followers on TikTok, has talked at length about the opportunities for wealth in real estate investing since the start of the pandemic. But, in a recent video, he breaks down how his latest deal will likely result in a $30,000 loss. The iBuyer firm OpenDoor has been losing money on homes in pandemic real estate hotspots Austin, Atlanta, and Phoenix. Flippers see home values slidingA Pickerington, Ohio house that Rutherford predicts will take a loss in this tough market.

☆ The world's biggest ad buyer says advertising on Twitter is 'high-risk' amid surging fake accounts and hate speech
▼ + stars: | 2022-11-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

GroupM, an advertising giant, has dubbed Twitter "high-risk" for advertisers since Elon Musk's takeover. It cited resignations among key staff, the day after head of trust and safety Yoel Roth quit. Yoel Roth, Twitter's head of trust and safety, quit his job on Thursday after Musk's first meeting with staff. It was Yoel Roth who explained this was a small group of users repeatedly posting the slur, and easing some concerns — further suggesting his resignation was a turning point for advertisers. Twitter and GroupM did not immediately respond to a request for comment, sent outside normal working hours.

☆ Twitter impersonators ran amok. But has Musk really learned anything?
▼ + stars: | 2022-11-14 | by ( Kara Alaimo | Ph.D. | Is An Associate Professor At The Lawrence Herbert School Of Communication At Hofstra University | ) www.nbcnews.com time to read: +7 min

The only problem was the company wasn’t accurately verifying the people behind the accounts or ensuring that verified accounts hadn’t changed their names. Many people appeared to be creating obviously fake accounts to make fun of Musk and make a point about why Twitter Blue’s new system wouldn’t work. With Musk at the helm of the social media platform, it’s certainly possible for the subscription-based Twitter Blue to come back just as flawed. Given Musk’s flip-flopping nature so far, it’s safe to assume that the dangers that can come from verified spoof accounts on Twitter are still present. Not only have many verified accounts impersonated other people, but disinformation may be worsening.

Take big law firms and Twitter. “Lawyers and law firms must struggle to stay visible, posting regularly, getting followers, and tweeting regularly. Consider, for example, Quinn Emanuel Urquhart & Sullivan, which has 1,587 Twitter followers – among the fewest of Am Law 100 firms. “To date, the firm’s social media efforts have focused on platforms that are most aligned with recruiting — LinkedIn and Instagram,” the spokesman said via email. Will law firms pony up $8 a month for the blue check now?

Originally reported Sunday by The Verge, a plan to charge verified users to get or keep their blue checks was expected to cost $20 a month. By Tuesday afternoon, Musk had posted a thread on the platform outlining his plan to charge $8 a month instead — part of an overhaul of Twitter’s existing Blue service. Along with the coveted blue check, Twitter Blue subscribers will be able to post longer video and audio clips. Right now, Twitter’s verification system has no cost and is designed to ensure users can identify legitimate accounts and know they’re trustworthy. The blue check makes it harder for verified users to be impersonated and provides them with some additional tools to manage their notifications since many have a lot of followers.

☆ Executives from Google, NBCUniversal, Uber, and others have poured $7 million into a new fund to turn 15 women-led companies into billion dollar businesses
▼ + stars: | 2022-10-19 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Princeton classmates Lynda Clarizio and Joy Marcus are aiming to create a new ecosystem for funding women-led businesses. The $7 million fund is still raising money to help 15 women-led businesses have a chance at success. Clarizio and Marcus hope to fund women-led companies around media, advertising, and content — areas that they both know well. The98 also hopes to create even more proof in the market that women-run businesses can be billion dollar companies, said Marcus. In the first half of 2022 start-ups with female founders raised $20.8 billion of venture funding, according to Pitchbook.

☆ In the new thriller 'Emily the Criminal,' director John Patton Ford takes on the student loan crisis
▼ + stars: | 2022-10-16 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Emily the Criminal Courtesy: John Patton FordIn the new film "Emily the Criminal," the title character, played by actress Aubrey Plaza, is almost always in a state of fear. "I think fear is the great motivator of human beings," said John Patton Ford, 40, the film's screenwriter and director. Even if the plan survives Republican challenges, outstanding student loan debt will still exceed $1 trillion, and every year an additional 5 million Americans borrow for their education. Annie Nova: From the start of the film, Emily is in a really desperate financial situation. 'No other country would tolerate this'AN: Did you research the student loan crisis for the film?

☆ Stocks week ahead: Intel is the Dow's biggest loser
▼ + stars: | 2022-09-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of Intel (INTC) are down more than 45% this year, making it the biggest dog of the Dow. Intel (INTC) is struggling despite well-publicized plans to build more plants in the United States and hire more at home. To be fair, Intel is not the only chip company that’s having a tough time this year. But longer-term, I think Intel will right the ship,” said Jeff Travis, portfolio manager of Oak Associates Funds. Travis does think that semiconductor stocks are still a good “secular growth industry” and that valuations are now attractive given how sharply the stocks have fallen.

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