Society

Hadas: U.S. slavery reparations might just work

24 Jul 2019

In terms of race, American society remains stubbornly separate and unequal 155 years after abolition. Much of the economy still works as if racial attitudes had not changed. One way to reduce the black-white social gap is a womb-to-tomb campaign of well-targeted incentives.

Weak Facebook penalty mirrors weak U.S. watchdog

23 Jul 2019

The social network will pay a $5 bln fine and must form a privacy oversight panel after accusations it mishandled user data. The Federal Trade Commission doesn’t have enough powers or staff to punch harder. Unless Congress acts, Big Tech can expect more slaps on the wrist.

Amazon’s data deal invites D.C. scrutiny

16 Jul 2019

As its executives appeared at an antitrust hearing in Congress, the e-commerce giant offered customers $10 to track their web browsing. It’s a smart way to grab business from rivals, and the price low-balls the value of user data. It’s also a demonstration of how dominance works.

Uber adds useful numbers to solve gender equation

15 Jul 2019

The ride-hailing app is tying executive compensation to targets for increasing the share of women and minorities in its ranks. Linking pay to worthy diversity goals is one concrete way for Uber to rehabilitate its toxic image. It also paves the road for others to follow.

Facebook sets diversity goals for others to follow

10 Jul 2019

The $570 bln social network wants at least half its staff to be women or from minorities in the next five years. Aside from being more representative, a more inclusive staff can help the bottom line. Facebook is not aiming for the stars, but it’s doing more than many companies.

U.S. soccer’s unsporting pay is an own goal

8 Jul 2019

The American women’s team that clinched the World Cup title on Sunday is fighting for equal wages. As with similar battles playing out in the corporate world, arguments about metrics and comparability cloud a simple point: closing the pay gap is good for long-term profit.

San Francisco vaping ban shows warped agenda

28 Jun 2019

Juul Labs’ home is the first U.S. city to block its sales. Local agencies can’t use facial-recognition software. Meanwhile the area has a property-crime problem and human feces on its streets. The place boasting the highest density of billionaires is neglecting basic services.

Viewsroom: What makes companies proud of Pride?

27 Jun 2019

Neither profit nor investor pressure explain U.S. firms lining up to mark 50 years of the LGBT-rights movement. They may simply be doing the right thing. But the nation still has a long way to go. Plus: how the UK prime minister race affects the Bank of England’s next boss.

Pride brings out best in self-serving companies

25 Jun 2019

Big brands are flaunting their support for the LGBT community, including some who once did the opposite. It’s easy to be cynical, but if only short-term profit mattered, such gestures wouldn’t happen. With so much still to do, the support matters more than the motivation.

Review: Counting the poor can miss the point

21 Jun 2019

A posthumous book by poverty expert Anthony Atkinson recounts the many complications of measuring deprivation. The efforts have been valiant and valuable. Still, numerous assumptions and estimates often hide the scandal of hardship, and the gains in the fight for human dignity.

Schwarzman’s Oxford gift widens UK university gulf

19 Jun 2019

The Blackstone founder is giving 150 mln pounds to the 900-year-old institution for a humanities centre bearing his name. Oxford and other top universities already outspend less prestigious peers. Weaker players will have to borrow more to keep up, increasing their vulnerability.

Tech can help uncover the basics of basic income

10 Jun 2019

Seed-capital guru Y Combinator is the latest to study the pros and cons of giving people a guaranteed monthly stipend. Its project is bigger, longer and less restrictive than the Finnish state’s or the U.S. city of Stockton’s. The higher standard should yield more useful results.

The Exchange: Dick’s sticks to its guns

10 Jun 2019

Dick’s Sporting Goods lost sales, customers and suppliers when it banned assault-style weapons from its stores last year. Over a year later, boss Ed Stack tells Breakingviews what he learned from taking a stand on gun violence, and addresses his newer challenge of China tariffs.

Review: Rockonomics nicely reflects the real world

7 Jun 2019

Alan Krueger’s posthumous work on the finances of rock and roll functions in equal parts as a basic industry primer, a textbook on broader economic concepts and a guidebook for musicians wanting to start a band. It’s also a window, if an imperfect one, into the author’s soul.

China’s censors expose a truth about corporate JVs

4 Jun 2019

Reuters’ 30th anniversary coverage of Tiananmen was blocked by Blackstone-backed partner Refinitiv in China amid pressure from Beijing. The $20 bln data provider’s priorities deviate from those of the news publisher. It’s a prime example of how partnerships can be strained.

As impact investing grows, its purpose strays

30 May 2019

Investing for social or environmental good, once a niche for foundations and development banks, now attracts the likes of Blackstone and KKR. There’s plenty of demand for the sector’s $500 bln of capital. For the biggest players, though, it’s still all about market-rate returns.

Dick’s assault on gun violence goes click not bang

29 May 2019

Over a year after it banned assault-style weapons, the U.S. sporting goods retailer’s sales and profit have held up. Chain stores sell only a fraction of America’s guns, limiting the impact. But Dick’s example suggests companies don’t have to pay a price for being principled.

For U.S. patients, knowledge isn’t power

28 May 2019

Forcing hospitals and doctors to disclose net prices to consumers, as President Trump is proposing, is a good idea. Patients can only shop around if they know what they will pay. Even so, healthcare still fails many other tests of being a competitive market.

Breakdown: ESG investing faces sustainability test

28 May 2019

Assessing environmental, social and governance risks is the hot topic in asset management. Support from politicians, millennials and fund houses, along with high-profile votes like those at Amazon and BP, should boost the $1 trln asset class. But success could create problems.

Hadas: “Zero privacy” is both blessing and curse

22 May 2019

Back in 1999 a computer executive told people worried about disclosing personal data to “get over it”. They mostly have. Shared information is now too useful for regulation to restore lost innocence. For oppressive governments, meanwhile, individualised media is also valuable.