Employment

Silicon Valley’s XX factor

17 May 2018

Only one out of three employees at Google, Facebook and Apple is a woman. How long before these tech companies hit gender parity in the workforce?

Closing tech’s gender gap will take decades

17 May 2018

One in three employees at Google, Facebook and Apple is a woman. Even if just over half of new hires were female, it would take up to 15 years to achieve a balanced workforce, a Breakingviews calculator shows. If Silicon Valley is serious about parity, a bolder target is needed.

Review: Get used to your bullsh*t job

11 May 2018

Two in five people find their employment meaningless. A new book by David Graeber finds plenty of culprits for the proliferation of “bullshit jobs”, from Puritans and machines to the liberal elites and the financial sector. Graeber’s taxonomy is inspired; his solution less so.

Computers come for debt capital markets jobs

1 May 2018

Citi, JPMorgan and Bank of America will later this year roll out an online platform that will streamline the way in which companies issue bonds and help investors to compare credits. A successful launch could over time help these banks to shrink their sales and syndicate teams.

Viewsroom: America puts ZTE in the sin bin

25 Apr 2018

The Trump administration’s decision to ban U.S. companies from selling to the Chinese telecom giant is seriously hurting the company's business. And there’s no easy plan B for ZTE. Also: China has a new way to measure unemployment. Should investors take it seriously?

Ericsson rebirth as much made in China as Sweden

20 Apr 2018

The Swedish telecom-kit maker’s shares soared 15 pct after quicker-than-expected cost cuts. That adds credibility to boss Borje Ekholm’s previously unimpressive rescue effort. An even bigger boost could come from anti-Chinese sentiment harming rivals like Huawei and ZTE.

China’s new unemployment measure has big job ahead

18 Apr 2018

In the first regular monthly numbers using surveys, Beijing reported a 5.1 pct jobless rate. It's far better than relying on claims of work-seekers. The question is whether officials will trust the gauge enough to scrap GDP growth targets – and if others trust it in a downturn.

Rail strikes will test French appetite for Europe

9 Apr 2018

President Emmanuel Macron’s plans to overhaul the state-run train company have sparked mass walkouts. He’s not the only one with much to lose. If voters turn against rail reforms, they may also blame EU laws that are forcing the pace of change and grow more critical of Brussels.

Trade and immigration loom over U.S. jobs outlook

6 Apr 2018

Payroll gains in March were disappointing, but the monthly average for the first quarter was a strong 202,000. Corporate tax cuts are supposed to boost economic growth from last year’s 2.3 pct. Saber-rattling on tariffs is a headwind, though – and fewer immigrants could be, too.

Hadas: Monopsony money

5 Apr 2018

In theory, single-buyer markets can squeeze suppliers as much as single-seller monopolies hurt buyers. But enhanced employer power doesn’t always hurt workers, and labour monopsonies are only one of many reasons for slow U.S. pay gains. Oligopolies should be a bigger worry.

Blowout U.S. jobs set Fed hunting for wage growth

9 Mar 2018

The U.S. economy added more than 300,000 jobs in February, smashing economists’ expectations, even as wage growth fell back to a ho-hum 2.6 pct. It's likely to keep the Fed searching for the elusive Phillips curve and why a tight labor market means only tepid pay rises.

Viewsroom: Trump slaps tariff fear on markets

8 Mar 2018

Imposing levies on steel and aluminum has lost the president his economic adviser, ex-Goldman No. 2 Gary Cohn. That has shocked investors out of complacency. Also: Italy’s elections leave fringe parties in charge. And big deals may be back on the agenda for the mining industry.

Whistleblowers lose a shield, but so do employers

22 Feb 2018

Those who suspect U.S. securities breaches must tell regulators or lose some protection from vengeful employers, the Supreme Court says. Major misconduct should still get reported. But small stuff might fall through the cracks – depriving companies of a chance to tackle it early.

Bad things may come in threes for stock investors

2 Feb 2018

U.S. wage growth and 10-year Treasury yields are both nearing 3 percent. The former may hasten rate rises and erode companies’ profits. The latter will boost borrowing costs and make it less attractive to hold stocks. That could spook an equity market priced for near perfection.

U.S. factories add jobs but could use more robots

2 Feb 2018

The economy added 200,000 jobs last month, including 15,000 in manufacturing. Donald Trump often talks of boosting the now smallish sector, but productivity has been near-stagnant and wage growth is weak. For all the fears of machines taking jobs, having more of them would help.

City’s #MeToo moment is tipping point and catalyst

25 Jan 2018

The charity behind a men-only London dinner where female hostesses were groped has closed down. The scale of justified public censure means such events have no future. But the furore may also give new impetus to appoint more women to boards and redress gender pay inequality.

Insurance M&A benefits from thin U.S. safety net

19 Jan 2018

Lincoln National is paying $1.4 bln for Liberty Mutual’s employer-based insurance business. It gives the buyer added heft in a growing field as more Americans top up life, health and disability coverage through the workplace. Cost cuts give this deal an added bit of assurance.

Amazon HQ2 choices disappointingly undisruptive

18 Jan 2018

The e-commerce giant has cut the field for its second headquarters to 20 prime locations including Dallas, Atlanta and New York. Hundreds of cities hoped Amazon would think outside the box, but a desire for talent and a welcoming environment led it to the usual hot spots.

Tight U.S. labor market may finally move Fed

5 Jan 2018

December’s relatively weak jobs and wage growth gives policymakers a breather. But with 2.1 mln positions created in 2017 and unemployment historically low, long-awaited pay increases - along with new tax cuts - could soon start stoking inflation. That would force the Fed’s hand.

Tax cuts crystallize haves, wants, can’ts, won’ts

21 Dec 2017

AT&T, Comcast, Boeing and Wells Fargo are among companies sharing the wealth from lower levies with workers. Most have reason to curry favor with the White House. So such deals may be less than they seem – while others will struggle to hold on to any benefits at all.