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Inflation talks are far from over, according to the Organization for Economic Cooperation and Development. The organization anticipates the pickup in global inflation rates will be sharper and longer-lasting than previously anticipated, with a risk that the world grows accustomed to quick price increases. Federal Reserve Chair Jerome Powell signaled that as the central bank grows wary of high inflation, it could speed up its plan to withdraw financial support from the economy. Omicron threatens to intensify supply shortages and inflation, OECD warns - Financial Times As Omicron, Supply-Chain Problems Loom, Eurozone Inflation Hits Record - The Wall Street Journal Time To Ready Yourself For Inflation - Forbes @elerianm: Notable US yield curve flattening as the Fed Chair’s belated inflation U-turn coincides with Omicron growth concerns. Illustrates why it would have been so much better policy to correct the mischaraterization of inflation months ago. There certainly were certainly enough indicators U.S. consumer confidence in November fell to a nine-month low as rising prices and coronavirus concerns fueled economic uncertainty. The confidence index dropped to a reading of 109.5, a 2.1 point drop from October and the lowest reading since the index reached 95.2 in February. The survey predicted consumers will continue to be less enthusiastic about buying a house and big-ticket items in the coming months. U.S. Consumer Spending Powers Ahead Despite Inflation Pickup - Bloomberg @jbartash: Americans are saying one thing but doing another. They say they worry about inflation and Covid, but they're spending and buying lots of stuff. That's why consumer confidence can fall to a 9-month low, as it did in November, but the economy keeps growing. A labor group is accusing Amazon of reporting “misleading or grossly incomplete” data about the number of coronavirus infections spread at its U.S. facilities. Amazon had at least 20,000 employees test positive for COVID-19 last year, but said only 27 of those cases were contracted while the employees were at work, representing a “hidden pandemic,” according to a coalition of four unions. Amazon to pay California $500,000 for 'concealing' COVID cases among workers - Los Angeles Times Amazon touts record post-Thanksgiving sales amid lackluster Black Friday, Cyber Monday for retailers - CNBC Amazon warehouse workers get to re-do their union vote in Alabama - NPR For the first time dating back to when the Ronald Reagan Presidential Foundation and Institute began surveying Americans about national security, Americans listed China as the nation’s top national security threat and reported their trust in the U.S. military dropped to its lowest levels in three years. Just over 50% of Americans named China as the greatest threat to the U.S., a 21% increase from four years ago, while Russia received 14% of the votes. GOP lawmakers fear China could hack U.S. government computing clouds - The Washington Post MI6 boss warns of China 'debt traps and data traps' - BBC News U.S. home prices rose significantly in September, signaling that the housing market is booming following last year’s coronavirus recession. Home prices rose 19.5% in September year over year, down from a 19.8% annual gain in August, according to the S&P CoreLogic Case-Shiller National Home Price Index. Phoenix reported the nation’s hottest market with a 33.1% price increase. Additionally, nearly 27% of U.S. consumers said they applied for a credit card in the past year. Where the housing market is going in 2022 as told by 7 leading forecast models - Fortune Mortgage refinance demand plunged 15% last week, but could now reverse - CNBC @Jkylebass: One doesn’t need to be a highly-paid Fed Economist to realize that injecting 40% more broad money into the US monetary system results in a concomitant 40% surge in rents and asset prices. @federalreserve @usatoday #inflation #rent "Denver metro's "true" unemployment is much...
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Stock futures dropped and investors took to government bonds after Regeneron Pharmaceuticals and other drugmakers raised concerns that vaccines and antibody-drug cocktails will not work as well against the Omicron variant. Economists said the global economy could suffer from the variant, potentially undermining policy plans to focus on inflation rather than weak demand. Many countries have already imposed travel restrictions, shaking consumer and corporate confidence and likely limiting holiday economic activity. Fragmented Reactions Hinder Global Fight Against Omicron Variant - The New York Times Omicron lockdown not needed for now, Biden says - BBC News NYC Issues Mask Advisory Due To New Omicron Variant - Forbes @jeannasmialek: Jerome Powell: "The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation. The Biden administration announced Monday that it would delay issuing suspensions or other serious penalties in accordance with the federal vaccine mandate until 2022. The American Federation of Government Employees said that for now, agencies will continue offering counseling and education to the roughly 3.5% of workers who have yet to receive a vaccination or request an exemption. Most employers will require workers to get COVID shots, survey shows - USA Today Judge temporarily blocks Biden administration vaccine mandate for health-care workers in 10 states - The Washington Post Rising inflation is leading to price increases across the supply chain as gas prices continue to rise, but the surge in oil prices is just getting started, according to JPMorgan Chase. A report warned clients that Brent crude oil will hit $125 a barrel next year and $150 in 2023, more than double today's Brent price of $73.50. The increase can partially be attributed to more people driving, but oil-exporting countries have chosen to increase production slowly instead of opening the traps, in part due to pressure to limit environmental damage. America’s Power Plants Are Low on Coal - The Wall Street Journal Oil firms face workforce crunch as renewables beckon -survey - Reuters Putting gasoline prices in perspective - Axios @RuhleOnMSNBC: As Americans hit the road to travel this Thanksgiving weekend, gas prices were a top talker at the dinner table. @SRuhle explains what you need to know about the cost of gas. #ForFactsSake The Federal Trade Commission asked Amazon.com, Procter & Gamble, Walmart and others for information about how they are handling the supply chain shortages as part of a study into whether the problems have led to anticompetitive behavior and higher prices. The FTC hopes the request helps them understand the reasons behind the widespread supply-chain problems hindering economic growth. The Biden administration, under fire for supply chain woes, says stores will be fully stocked for the holidays. - The New York Times Amazon illegally interfered with failed union vote, federal official says - CNET FTC orders Walmart, Amazon, Kroger and more to turn over information on empty shelves, high prices - USA Ttoday The pandemic continues to promote entrepreneurship and self-employment. The number of unincorporated self-employed workers has risen by 500,000 to 9.44 million since the start of the pandemic, according to Labor Department data, the highest total since the 2008 financial crisis. Entrepreneurs are taking to online marketplaces like Etsy which has increased its active sellers by 2.6 million since 2019. How to leverage the Great Resignation if you actually like your job and want to stay - CNBC Remote work has a downside. Here’s why I want to go back to the office - Fast Company @AndrewCrow: We need to change the narrative around "remote work". In a future where many people can work anywhere, everyone is remote – including those in an office. Striving for equity in collaboration experience is the
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A new coronavirus variant, dubbed the omicron variant, sent the world into high alert over the holiday weekend, driving a sharp increase in COVID-19 hospitalizations across South Africa. Governments around the world announced travel restrictions that target African regions, triggering resentment among Africans who believed that the continent was again being the target of Western countries' panicked policies. The World Health Organization believes the omicron variant poses a "very high" risk as it may be more transmissible than other strains of the virus. How Omicron Variant Rattled the World in One Week - The Wall Street Journal How vaccine makers plan to address the new COVID-19 omicron variant - NPR @SeanDefoe: Ten possible cases of the Omicron variant in Ireland have been sent for full genome sequencing. They were selected from positive Covid tests as they show a thing called 'S-gene dropout' which is linked with variants, not all of which are Omicron Inflation rose at its fastest pace in October since the early 1990s, according to the Commerce Department. Consumer spending rose 1.3% for the month. Minutes from the Fed’s November meeting showed worries about inflation dominated the monthly policy meeting, with officials saying they would be willing to raise interest rates if prices keep rising. Additionally, jobless claims plummeted to the lowest level in more than half a century at 199,000, another sign of a post-pandemic economic rebound. High inflation? Low polling? White House blames the pandemic - Associated Press Millennials Confront High Inflation for the First Time - The New York Times @RBReich: We need to talk about the deeper structural reason for inflation, one that appears to be growing worse: the concentration of the American economy in the hands of a few corporate giants with the power to raise prices. The Biden administration on Tuesday asked a federal appeals court to lift the court-ordered stay on stay on the sweeping workplace COVID-19 vaccination mandate, urging the 6th U.S. Circuit Court of Appeals to at least alternatively allow a masking-and-testing requirement. One day after the Biden administration’s deadline for compliance, 92% of the 3.5 million federal workers covered by the mandate reported they are at least partially vaccinated. A flood of covid patients causes ‘almost unmanageable’ strain in Michigan as cases rise nationwide - The Washington Post Some Hospitals Prepare to Lose Staff Over Covid-19 Vaccination Mandate - The Wall Street Journal According to ADP’s People at Work 2021 poll, 64% of the global workforce reported being negatively impacted by COVID-19, with 28% saying they lost a job, were furloughed or were temporarily laid off. Additionally, 75% of the global workforce made changes or planned to change how or where they live. Gallup research suggests that one of the ways to combat the Great Resignation is to have a best friend at work as it links directly to how much employees put into their roles. How the Covid-19 Pandemic Changed Employee Training - The Wall Street Journal The benefits of not joining the Great Resignation - BBC @mkobach: There’s a rare opportunity for most cities/states/counties to reinvent themselves by optimizing for remote work. The economic spoils will go to the places that figure this out the fastest. Air travel in the U.S. soared over Thanksgiving, as more than 2.3 million Americans flew for the holiday, setting a pandemic record close to 2019 numbers. Airport passenger daily volumes exceeded two million people for seven straight days through Wednesday, Nov. 24, with very few flight cancelations, signaling a shift from the problems that have plagued air travel in recent months. The Holiday Travel Crush Has Begun. Are the Airlines Up to It? - The New York Times @StackhouseJohn: US holiday air travel 2x last year. Road traffic will be similar. How will we fuel this demand next year and beyond? #economy #ChartoftheDay "Millennials Confront...
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Zoom Video Communications sales growth slowed last quarter as the demand for remote work and video conferencing eased. Zoom has been unable to maintain the heady growth it experienced at the pandemic’s start when organizations leaned heavily into remote work and now faces increased competition, like Microsoft’s Teams application. Will Zoom be able to withstand workers returning to the office? - MarketWatch Pandemic Stocks Have Become Passé - The New York Times @danielnewmanUV: Big day for @Zoom. Market seems to be skeptical of its results. Last quarter 54% revenue growth was met with disdain. I would like to see that level this quarter to show strength despite reopening & increased mobility. Likely very volatile on results. $ZM #Collaboration #Earnings With COVID-19 cases climbing, more companies are considering fees and surcharges for unvaccinated workers. The grocery chain Harmons and JP Morgan Chase are two companies telling unvaccinated employees they will pay more for health insurance if they remain unvaccinated. A September survey found nearly 20% of large companies were considering raising insurance premiums for those evading the shot. What kind of costs can unvaccinated workers ring up for a business? - Marketplace Vaccine-or-test work rules are proving costly for governments - USA Today @KUOW: "This surcharge will be necessary to address the financial risk the decision to not vaccinate is creating for our company." Restrictions related to voice-only telehealth loosened when state and federal governments temporarily eased privacy and security restrictions early in the pandemic, largely benefiting elderly and rural residents. Today, these rules are rapidly shifting with nearly 1,000 proposals pending before state and federal legislatures that address extending telehealth, while Medicare, for example, says it will cover audio-only visits through 2023. Harris announces $1.5B to fight shortage of doctors in underserved communities - The Hill Employers Beefed Up Telemedicine Benefits During Pandemic as Family Premiums Climbed - Inc. Telehealth Rollbacks Leave Patients Stranded, Some Doctors Say - The Wall Street Journal Thousands of people at more than 25 companies went on strike this fall as workers leveraged the national labor shortage and the Great Resignation to demand changes. A 35-day worker strike at Deere & Co. ended last week, days before the construction and equipment manufacturer reports quarterly earnings and its profit outlook for next year. Low wage, essential workers demand better protections in California - PBS NewsHour Strikes Sweep Labor Market as Workers Flex New Leverage - The Wall Street Journal Labor Shortage? Depends on Who You Ask. - Entrepreneur The online, U.K.-based bank Atom Bank introduced a four-day work week for its 430 employees without cutting their pay in an effort to improve wellbeing and retain staff. Two studies between 2015 and 2019 trailing a four-day work week at the same rate of pay found no corresponding drop in productivity among participants and a dramatic increase in employee wellbeing. Is the Four-Day Workweek Finally Within Our Grasp? - The New York Times What do employees say would reduce burnout? Less work - CIO Dive "Zoom Has Some Unhappy Hours Remaining" - The Wall Street Journal / Source: Zoom; Visible Alpha CONTENT FACTS Turbine Labs has tracked 16,129 media articles and blogs and 17,920 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, November 29, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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The Congressional Budget Office declared on Thursday that President Joe Biden’s social spending bill would heighten the budget deficit by $160 billion over the next ten years if signed into law. Despite the announcement, and a filibuster from House Minority Leader Kevin McCarthy that delayed the vote Thursday evening, House Democrats are expected to approve the estimated $2 trillion bill Friday morning. 'Crazy' or 'much ado about nothing'? How Joe Biden's Build Back Better plan could impact inflation. - USA Today CBO score on Biden spending bill would be 'pretty hard' to ignore, former director says - FOX Business @paulkrugman: Seeing some news stories leading with "CBO says BBB will raise deficit" then acknowledging that it's bc CBO is probably underestimating revenue gains from a stronger IRS. Which is true but kind of misses the bigger point: $160 billion is tiny Apple’s return to office date for employees was delayed to February 1 of next year with a plan to initiate a hybrid work model, according to a memo from Apple CEO Tim Cook. The plan will allow employees up to four weeks of remote work per year to allow workers time to travel, see loved ones or “shake up” employee routines. As workers return to offices, hybrid schedules take root - The Buffalo News Report: 98% of IT leaders concerned about security challenges due to hybrid workforce - VentureBeat Some employers opting for geo-specific pay as remote work becomes norm - TNW The Austrian government announced a nationwide lockdown Friday morning along with a vaccine mandate, marking the first nationwide vaccine mandate for a European country. The announcement follows Germany’s rollout of restrictions for unvaccinated citizens Thursday as Europe has continued to struggle with rising COVID-19 infections and low vaccination numbers. Greece, like some other E.U. nations facing case surges, adds restrictions for the unvaccinated. - The New York Times FDA clears Moderna and Pfizer’s Covid vaccine booster shots for all U.S. adults - CNBC Europe Returns to Work-From-Home to Stem Soaring Covid Cases - Bloomberg Workers in the United States are expecting wage increases in the coming year due to employee shortages and inflation pressures according to survey data from the University of Michigan. The news comes as 88% of Americans have expressed concern over inflation and said they plan to reduce spending where possible to deal with rising prices. Inflation Spreads to Online Retail, Once a Haven of Discounts - Bloomberg Take Five: Gas, inflation and time to hit the shops - Reuters Democrats urge Biden to do more about inflation - Axios Retail pharmacy giant CVS said it will close up to 900 storefronts over the next three years as it pivots its business model more toward health services. The announcement follows competitor Walgreens Boots Alliance’s similar shift away from a retail focus and is meant to expand CVS’s health service offerings for customers by providing treatments for diabetes and chronic care among other services. Macy’s plans to shut 10 department stores in January while delaying other closures - CNBC @Mikey_Tay1or: CVS closing 10% of their retail due to consumers increasing demand of buying medicine online. They’re expecting to lose $1B - $1.2B Our deal flow of vacant retail increased significantly post Covid… so I’m actually not surprised by this. "Inflation Gives U.S. Workers Ammunition in Year-End Pay Reviews" - Bloomberg / Source: University of Michigan survey CONTENT FACTS Turbine Labs has tracked 18,617 media articles and blogs and 21,046 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, November 22, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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The Centers for Disease Control and Prevention expanded eligibility for COVID-19 vaccine booster shots to all adults ages 18 and up. The decision followed a unanimous vote by the CDC’s outside panels of advisers. The former Commissioner of the U.S. Food and Drug Administration said that U.S. officials might eventually consider people “fully vaccinated” for COVID-19 only if they’ve had their additional booster dose of the vaccine. You’re getting a COVID-19 booster. How about 2022 and beyond? - Fast Company Fauci hopes COVID-19 booster increases durability to not need it regularly - The Hill Traditional Thanksgiving meals with all the trimmings are facing grocery prices that are up 14% compared with the 2020 holiday. Inflationary factors driving up food costs include supply chain disruptions and changes in how people eat. During the pandemic, more consumers cooked and ate meals at home, which led to increased supermarket demand and higher retail food prices. Thanksgiving Will Cost More This Year. That Could Cost Democrats, Too. - The New York Times Holiday season poses major test for Biden economy - The Hill Thanksgiving Will Be Pricey This Year … Unless You Wait - Bloomberg @GannettAlbany: Food banks were prepared for inflation around the holidays, thanks to federal aid and strong state program Supply-chain shortages once thought to be transitory are now expected to persist until next year. While consumer demand may wane after the holidays, future trouble spots include the labor contract representing around 15,000 West Coast port workers expiring next summer, new rules by the International Maritime Organization requiring ships to reduce their carbon footprints and a potential reverse logjam in Asia next year. Cargo ship queues have been pushed 150 miles off the coast of Southern California - Insider Today’s Shortages Could Soon Become Tomorrow's Gluts - The Wall Street Journal @RobertGarcia: Important thread on the progress being made on supply chain congestion at ports. We are seeing significant improvements thanks to the Biden-Harris Administration and our state partners. We have a ways to go but the data headed in right direction. A rise in COVID-19 cases has once again prompted employers to question their return to work approaches, reflecting the continued uncertainty about the pandemic’s trajectory. Though many office spaces remain empty, offices in the 10 major U.S. cities were on average 39% occupied in the week ended Nov. 10 – a pandemic-era high. Workers are resisting being called back to the office — and some employers are scrapping their plans - The Boston Globe 'Out of Office' considers 'why' companies want to bring back remote employees - NPR Stubborn Covid surges signal bleak winter - Politico A resurgence of COVID-19 restrictions in a number of countries has resulted in protests across Europe – most recently in the Netherlands – with some demonstrations turning violent and leading to dozens of arrests. The protests have come in response to a three-week partial lockdown announced last weekend following a spike in coronavirus cases. France deploys police to Guadeloupe to quell violent Covid protests - The Guardian Protests against Italy’s health pass fizzle. - The New York Times @PamelaFalk: Tens of thousands of people demonstrated through central Brussels on Sunday to protest reinforced COVID-19 restrictions imposed by the Belgian government to counter the latest spike in coronavirus cases. "Thanksgiving inflation: Cost of turkey feast up 14%" - Axios / Source: American Farm Bureau Federation; Sarah Grillo and Will Chase/Axios CONTENT FACTS Turbine Labs has tracked 8,220 media articles and blogs and 11,793 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, November 22, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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For the sixth straight week, initial jobless claims remained below 300,000, falling to 268,000 — the lowest number since the pandemic hit. The continued decrease in claims towards pre-pandemic levels is a sign employers are avoiding layoffs as many workers quit. The quits rate was measured at a record high of 3% in September, Labor Department figures show. Retirees are ‘unretiring’ — and that’s good for the labor market - CNBC @profwolff: Not a worker "shortage;" rather a shortage of decent wages, job conditions for decades. So now workers say "take this job and shove it" and quit or strike or unionize. Finally! Florida Republicans approved a bill Wednesday that aims to hinder vaccine mandates in businesses and rejected claims that businesses refusing mandates sacrifice public health. After Gov. Ron DeSantis signs the bill in the coming days, Florida will become the first state with a law imposing fines on companies that require a COVID-19 vaccination for employment. As G.O.P. Fights Mask and Vaccine Mandates, Florida Takes the Lead - The New York Times @jayobtv: NEW: Florida legislature passes Republican-led bill meant to thwart Biden Administration vaccine mandate. Doesn’t ban workplaces from requiring the shot, but does force those employers to allow for broad opt-outs. Bill is awaiting @GovRonDeSantis’ signature. President Joe Biden asked the Federal Trade Commission to investigate potential “illegal conduct” from energy companies as gas prices hover around a seven-year high. Fuel prices for a gallon of gasoline are averaging $3.41, according to data from the American Automotive Association. In August, the Biden administration called on OPEC to increase production and asked the FTC to monitor and address any illegal conduct. Biden faces pressure to tap strategic oil supply as gas prices soar - Fox Business Gas price relief on the horizon as global oil supply picks up, says IEA - CNN @SenWarren: .@ExxonMobil & @Chevron have doubled their net profit. Meanwhile, consumers are being crushed at the pump even as fuel costs have dropped. I’m glad @POTUS asked @LinakhanFTC to investigate whether greedy oil & gas giants are cheating and driving inflation. The Occupational Safety and Health Administration suspended the enforcement of Biden’s COVID-19 vaccine mandate for private businesses after a federal appeals court opposed it last week. The agency said it is confident in its authority “to protect workers in emergencies.” OSHA originally gave employers with more than 100 employees a Jan. 4 deadline to comply with the vaccine mandate and threatened thousands of dollars in fines if businesses do not comply. Conservative-leaning appeals court to hear challenges to Biden's vaccine mandate after ping-pong ball lottery - CNN @RepRussFulcher: Alongside my Republican colleagues in the Education and Labor Committee, I am leading the effort to introduce a Congressional Review Act (CRA) to nullify OSHA’s emergency temporary standard mandating vaccines for private sector employers. CEO turnover spiked in the first half of 2021 as many companies restructured with hopes to navigate the aftermath of the pandemic, according to a study from recruiting firm Heidrick & Struggles. Survey findings show that stressed CEOs are not immune to the worker exhaustion and lifestyle change that has been dubbed the Great Resignation. Following resignations, the report found that women are most likely to be promoted to executive roles. What the CEOs of Walgreens, Hilton and Progressive think about the Great Resignation - Fortune One solution to the labor shortage: teenagers - CNBC @malas_n: As US workers keep quitting their jobs at a record-setting rate, "employers are forced to do things that they haven’t had to do before." @smasunaga reports on the wild variety of ways companies are fending off the Great Resignation. "The Great Resignation: Why millions of workers are leaving their jobs and what to consider before...
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U.S. stock futures remained flat Wednesday amid announcements of strong earnings from Target and Lowe’s. Target said comparable sales rose 12.7% and e-commerce sales rose 29% in the most recent quarter as holiday sales launched early. Lowe’s beat analysts’ expectations for the third quarter, anticipating $95 billion in sales as the company got a bump in business from remote workers. Black Friday is early again this year, and maybe forever - Retail Dive Walmart ad revenue surge helps keep prices low as sales soar - Ad Age @jimsciutto: New: Retail sales for the month of October rose 1.7%, more than economists had expected and significantly more than the previous month. In September, retail sales grew 0.7% from the month earlier, beating economists' forecast for a 0.2% decline. The White House is prepared to invest billions of dollars towards expanding U.S. vaccine manufacturing capacity to at least one billion doses a year starting in 2022. The Biden administration has faced mounting pressure to increase the vaccine supply in poorer nations. The move comes as the Food and Drug Administration pushes to authorize booster doses of Pfizer’s coronavirus vaccine for all adults this week. COVID vaccine can be bundled with a child's routine shots, doctors say - ABC News Nurse Salaries Rise as Demand for Their Services Soars During Covid-19 Pandemic - The Wall Street Journal @DataDrivenMD: Pfizer/BioNTech expect $60 billion in revenue from COVID-19 vaccine sales in 2021 & 2022. In 2023, “analysts have forecast revenue of over $6.6 billion […] mostly from booster sales.” 2/n A federal judicial panel assigned the GOP-majority appeals court in Cincinnati to handle at least 34 lawsuits challenging the Biden administration’s vaccine and testing requirements for private businesses. The assignment casts further doubt on the survival of the vaccine mandate the White House says is central to the fight against the coronavirus. Utah’s workplace COVID vaccine exemption bill becomes law - ABC4 Utah Biden’s and Fauci’s supposed hypocrisy on vaccine mandates, examined - The Washington Post Resignation rates reached record highs of 4.4 million in September, with quitting rates especially high for in-person roles in traditionally lower-paying industries such as entertainment, hospitality, trade, transportation and retail, according to the Bureau of Labor Statistics. The Great Resignation also targeted U.S. tech workers with 72% thinking about leaving their current employer in the next year, according to TalentLMS. Executives have voiced feelings that we are far from the end of the shift in worker habits. Is The 'Great Resignation' Actually A Mass Retirement? - Forbes The Worst of Both Worlds: Zooming From the Office - The New York Times The CEO of the world’s biggest job portal says he has a solution to the labor shortage: getting rid of the resume - Fortune @axios: Some 60% of firms are re-designing their offices for the post-pandemic era, according to a new report that surveyed large companies around the world. Of those, a quarter are eliminating private offices entirely. Supply chain constraints paired with climate change are leading to a shortage of both real and artificial Christmas trees, prompting vendors to urge consumers to buy before Thanksgiving. Some businesses said that this year consumers will potentially see a 25% price increase due to the hike in transportation costs. Additionally, holiday dinners will cost more this year. Last month, the price of meat, poultry, fish and eggs rose 12% from a year ago, pork prices rose 14.1%, and beef prices surged 20.1%. How climate change and extreme weather are crimping America’s pie supply - The Washington Post From turkey to festive fizz: how will shortages affect UK Christmas dinner? - The Guardian @AnnaHoffmanTV: Grocery Store workers recommend getting your Thanksgiving turkeys early to avoid impacts of a turkey shortage. Thankfully our local stores are prepared for...
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President Joe Biden signed the $1 trillion infrastructure bill Monday afternoon. The bill, cut down from its original price tag of $2.3 trillion after months of debate, includes funding for broadband expansion, environmental projects and improvements for transportation infrastructure among other initiatives. Biden’s reliance on I.R.S. enforcement to pay for $1.85 trillion bill hits a snag. - The New York Times Students are still struggling to get internet. The infrastructure law could help - NPR Biden’s infrastructure bill includes $50 billion to fight climate change disasters - CNBC October retail surged 1.7% compared to September’s 0.7% due to early holiday shopping and high gas prices. October’s rise in retail sales signaled the third month of growth in a row. Economist Michael Gapen with Barclay argued that strong retail sales represent a positive sign that the U.S. economy is “back on track.” After rally in U.S. retailers, investors eye upcoming reports - Reuters Consumers rushing to complete holiday shopping due to supply chain concerns - WHSV Supply Chain Challenges Won’t Ruin the Holidays—but They Will Change the Retail Industry - Adweek Recent survey data highlighted a reduction in working hours as the preferred solution to employee burnout with 83% of survey participants saying a reduced workweek would help them tackle burnout in their jobs. Advocates of the 4-day workweek have argued a reduction in work hours may help employers deal with the effects of the Great Resignation, particularly when it comes to attracting new talent. U.S. Faces Crisis of Burned-Out Health Care Workers - U.S. News & World Report 6 Strategies to Boost Retention Through the Great Resignation - Harvard Business Review Robots Filling Vacant Jobs Amid Ongoing 'Great Resignation' - International Business Times Senate Banking Chairman Sherrod Brown said the Biden administration is expected to announce its selection for the chair of the Federal Reserve soon, with a choice forecasted for before the Thanksgiving holiday. The two finalist candidates are incumbent Federal Reserve chair Jerome Powell and Federal Reserve governor Lael Brainard, both of whom were interviewed by the President earlier this month. Inflation Prompts Growing Chorus to Call on Fed to Speed Taper - Bloomberg Fed should hike interest rates immediately to cut stagflation risks, economist Stephen Roach suggests - CNBC @CGasparino: BREAKING— Wall Street sets odds of a Powell reappointment to @federalreserve at just 50 50 after what was seen as a layup not long ago. We discuss why and possible impact on markets if Lael Brainard gets the nod now @FoxBusiness @TeamCavuto Pharmaceutical giant Pfizer announced its antiviral COVID-19 pill can be produced by generic manufacturers for 95 low- and middle-income countries through a licensing agreement with Medicines Patent Pool. The clinical trial of the company’s pill showed a reduction in mortality and hospitalization rates of 89% for adults at risk of severe disease. Despite progress on the company’s antiviral drug, Pfizer CEO Albert Bourla has maintained opposition to the waiving of intellectual property rights for COVID-19 vaccines. Pfizer to conduct trials of antiviral COVID-19 pill in Russia - Reuters 8 lingering questions about the new Covid pills from Merck and Pfizer - STAT WHO chief calls booster distribution 'scandal' as poorer countries wait for doses - The Hill @BogochIsaac: Pfizer signs a deal allowing their #COVID19 pill (Paxlovid) to be more accessible & "widely available in 95 low- & middle-income countries covering 53% of the world's population". Good news if those who need this can actually access it. "The Great Resignation" - Statista / Source: U.S. Bureau of Labor Statistics CONTENT FACTS Turbine Labs has tracked 26,845 media articles and blogs and 20,817 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Wednesday,...
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Florida Governor Ron DeSantis called for a special session of the state’s congress to discuss rules around vaccine mandates. The week-long session beginning Monday will debate four bills designed to deter local governments and businesses from instituting vaccine requirements. The news comes as Austria, where the vaccination rate is one of the lowest in Europe, has mandated a lockdown for unvaccinated residents. U.S. weekly COVID-19 vaccinations hit highest in nearly six months - Reuters Vaccine mandate poses tough legal questions on employer involvement in workers’ lives - MLive Intel to require U.S. workforce to get vaccinated for COVID-19 - KATU @thejamesmax: A further wave of Covid is on the way. Austria has now imposed lockdown conditions on the unvaccinated. What restrictions should unvaccinated people in the UK face? @talkRADIO #earlyBreakfast Some companies have begun designing products using lower-tech solutions as the global microchip shortage continues to drag on. Companies that manufacture snowmobiles and other automobiles said they are redesigning their vehicles without GPS screens and other microchip-enabled features. The CEO of Nvidia has predicted demand will outstrip supply through next year. Making Acquisitions to Control the Supply Chain - Bloomberg Supermarkets Alter Layouts, Use Decoys to Fill Gaps Left by Shortages - The Wall Street Journal Microchip Shortage Adds to Stress for Law Enforcement Agencies - Officer President Joe Biden’s national economic advisor Brian Deese blamed inflation woes on the coronavirus Sunday in an interview with CNN. Deese’s comments echoed those of Treasury Secretary Janet Yellen who said the end of inflation depends on a successful response to the pandemic. Deese highlighted the President’s $1.75 trillion economic bill as a solution as it is expected to lower housing, child care and health care costs for Americans. What Does Inflation Mean for American Businesses? For Some, Bigger Profits - The Wall Street Journal Inflation Is Killing the Dollar Carry Trade in Emerging Markets - Bloomberg Inflation raises focus on Biden Fed pick - The Hill A hack of the FBI’s email servers over the weekend caused thousands of fake emails to be sent out alerting recipients that they had been victims of a “chain attack.” While the agency said no network data was compromised, the incident occurred just before the United States and Israel announced a cybersecurity cooperation agreement between the two countries. Dedicated State and Local Cyber Grants Are Finally Arriving - Government Technology As shoppers cash in on early deals, cybersecurity experts warn everyone that scammers are watching - FOX43 How to fend off cybersecurity burnout - VentureBeat California gas prices broke the state’s previous record Monday morning, leaving the U.S’s most populous state with the highest gas prices in the nation. Senate majority leader Charles Schumer called on federal authorities Sunday to reduce gas prices in anticipation of holiday travel by tapping into the Strategic Petroleum Reserve. South Carolina gas prices slip slightly for 2nd consecutive week - WPDE Biden Plans to Bar New Drilling Around a Major Native American Cultural Site - The New York Times @AdamKinzinger: The @Potus needs to, immediately, release some of the strategic petroleum reserve. People are being taxed with high gas prices, this is real world…. Not time to debate the merits of fossil fuel. We can focus long term on green energy while helping people now. "Inflation emerges as defining economic challenge of Biden presidency, with no obvious solution at hand" - The Washington Post / Source: Labor Department CONTENT FACTS Turbine Labs has tracked 14,294 media articles and blogs and 15,025 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, November 16, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Healthcare giant Johnson & Johnson plans to break into two companies, a move that splits up the multi-billion dollar consumer products division that sells Band-Aids, Tylenol and Johnson’s Baby Powders from the pharmaceutical business. The move follows suit of other multinational companies trying to simplify their structure as the healthcare industry changes. Toshiba Corp and General Electric announced similar plans this week. GE closes a defining chapter in US corporate history - Financial Times Biden administration announces deal to provide J&J Covid-19 vaccine to people in conflict zones and humanitarian settings - CNN The U.S. signed an international agreement on cybersecurity with 80 countries and hundreds of companies like Microsoft and Google. The agreement aims to foster an open internet and strive for better internet security through common laws and goals. The White House said the support reflects the Biden administration’s “priority to renew and strengthen America's engagement with the international community on cyber issues.” Ransomware takes center stage in U.S. official's Middle East trip - Reuters Bill proposes large financial institutions to report ransomware attacks, cap payments - SC Magazine @VP: Yesterday, I announced several initiatives related to space and cybersecurity that we will undertake alongside France and other countries. This is about taking on the challenges of the 21st Century. Learn more: The U.S. has had upwards of 10 million open jobs since June as the labor shortage persists. Last week, there were a projected 11.2 million U.S. job openings, well above their pre-pandemic peak of about 7.5 million. With many of the open jobs in warehousing, shipping and consumer-facing retail, companies are ordering a record number of robots to battle the labor shortage. North American companies ordered 29,000 robots in the first nine months of 2021, a 37% increase in orders than for the same period of 2020. Job listings offering less than $15 an hour are starting to disappear in today's tight labor market - MarketWatch Why Companies Are Struggling To Find Good Talent During The Great Resignation - Forbes A new recruitment tool for employers — paying workers every day - CBS News @libbycathey: As the holiday season approaches and employers complain of a worker shortage, President Joe Biden's COVID-19 mandates are now at the forefront of a nationwide debate on whether the government is going too far. Via @AnneKFlaherty @LukeLBarr @AmandaMaileABC Hospitals across states from Arizona to the Great Plains and Minnesota are seeing an autumn wave of COVID-19 infections that is putting serious pressure on hospitals as intensive-care unit beds fill. Experts anticipate that with more Americans vaccinated, this year's Holiday surge is not likely to linger as long or do as much damage because there’s a higher level of protection. Behind California's new tune on COVID boosters: fear of waning immunity and a winter surge - San Francisco Chronicle @DrLeanaWen: After weeks of declines, #covid19 cases have plateaued. The problem is, this is far too high an infection rate: Over 70,000 new daily cases. There are still areas of overwhelmed hospitals. Deaths still top 1,000 a day. And winter is coming. Supply chain issues have hit the North Pole. Santa bookers are overwhelmed as events and organizations hope to bring Saint Nick back to their holiday functions this year after taking last year off, but virus concerns remain high among a group of workers that skews toward older, heavier-set men. HireSanta.com reported 15% fewer Santas this year, yet the demand is 120% higher than pre-pandemic levels. Labor Shortages Reach the North Pole - The Wall Street Journal Tree shortage on the horizon as holiday season approaches, farmers urge customers to act quickly - 47 ABC Holidays and supply chain shortages: These items may be difficult to find this year - WDTN 2 News "Employers Strengthen Paid Leave Benefits...
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Workers at the magazine-publishing division of Hearst, which runs outlets like Cosmopolitan and Men’s Health, have filed an unfair labor practices charge against their employer after the company mandated employees return to the office. More companies are in the process of recalling workers back to their offices – the Department of Labor noted 11.6% of employed persons teleworked due to the pandemic last month, down from 13.2% in September. Only 28% of New York office workers are back in the office - CNBC As companies look to bring remote workers back to the office, a writer asks: Why? - NPR @margotroosevelt: 300+employees at Hearst’s magazine division signed petition objecting to company’s plan to have them return to the office starting next week. Their union has filed a complaint with the National Labor Relations Board. The Biden administration urged the court not to block its vaccine mandate on employers after an appeals court temporarily halted the mandate with a nationwide stay last week. Data regarding vaccine mandates suggest they’re working, with some organizations seeing their employee vaccination rates jump from less than half to over 90%. The Vaccine Mandate Kicks In at 100 Employees. What If You’re at 98? - The New York Times How Employee Unrest Over Biden's Vaccine Mandate Is Spilling Over to the Smallest Businesses - Inc. The lawsuits attacking Biden’s workplace vaccine mandate, explained - Vox The U.S. and China announced a joint agreement Wednesday to “enhance ambition” on climate change, saying they will work together to cut emissions this decade. A draft agreement being circulated at the United Nations climate summit calls on countries to phase-out coal power and flesh out deeper cuts in carbon emissions by next year. U.S. airlines and Amazon join push to reduce aircraft emissions - Reuters Public Transit Use Must Double to Meet Climate Targets, City Leaders Warn - Bloomberg The threshold for the top federal income-tax bracket in 2022 will climb by $20,000 for married couples and apply to income over $647,850. Due to increases in consumer prices, all of the tax bracket thresholds and other key tax-code parameters are rising faster than usual. This would mark the largest increase in four years. IRS releases new standard deductions and tax brackets as inflation soars - MarketWatch Inflation is wiping out wage increases for many workers - The Washington Post @NHendersonWSJ: Rising consumer inflation this year is leading to a larger standard deduction, higher tax bracket thresholds for 2022, the IRS said. British fashion chain Ted Baker said its sales are rebounding as office and party wear become popular again and COVID-19 restrictions ease. The company continues to navigate its recovery from the pandemic, with revenues still down compared to pre-pandemic levels. Apparel shortages to drive bumper holiday sales for secondhand retailers - Reuters Sweatpants And Sweatshirts You Can Wear For Work, And No One Will Know - HuffPost @Captivate: 53% of business professionals said their work attire has become more relaxed in their office compared to what they wore pre-pandemic, a new Office Pulse study of 501 white-collar workers found. "Where Inflation Is Highest in U.S." - The Washington Post / Source: Labor Department CONTENT FACTS Turbine Labs has tracked 19,079 media articles and blogs and 19,308 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Friday, November 12, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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U.S. inflation hit a three-decade high of 6.2% last month, fueled by supply shortages and strong consumer demand. Inflation at the wholesale level rose 8.6% in October from a year earlier, matching September’s record annual gain and offering more evidence that inflationary pressures are not yet easing. Futures extend losses after strong inflation data - Reuters ‘Meatflation’ Worsens As Beef Prices Hit Steepest Rise In 30 Years - Forbes @byHeatherLong: Where Americans are seeing the most inflation: Fuel oil 59% (y/y) Gas 50% Utility 28% Used cars 26% Hotels 26% Steaks 24% Bacon 20% Pork chops 16% Wash machines 15% Furniture 12% Eggs 12% Fish 11% TVs 10% New cars 10% Chicken 9% Milk 6% Coffee 6% Flour 5% Rent (OER) 3.1% Holiday travel volume is expected to reach pre-pandemic levels over Thanksgiving, a new AAA report estimates. AAA said that more than 53 million Americans are expected to travel by both car and plane. Just over half of TSA workers received at least one COVID-19 vaccine dose as of last month, prompting concern over potential shortages as the Nov. 22 deadline approaches. Gas prices have also risen by more than $1 a gallon since last year. Labor union representing TSA and other federal workers urges White House to postpone vaccine deadline until 2022 - CNN Gas prices rise to a seven-year high. Here's a look at states where drivers pay the most - USA Today Pandemic holiday travel 2.0: How to navigate Thanksgiving this year - CNN Airbnb plans to roll out new features, including verified internet speeds and options to search for listings up to a year in advance, as the vacation-rental company bets remote work and flexible travel is here to stay. The features were announced a day after the U.S. borders reopened to foreign tourists. Airbnb Posts Record Results After Busy Summer Travel Season - The Wall Street Journal U.S. Travelers Plan to Spend More Amid Remote-Work Flexibility - Bloomberg Malta: The island welcoming digital nomads - BBC @JoePompliano: This is a wild stat from Airbnb: Over the last six months, between 20% to 25% of all Airbnb bookings have been for one month or longer. As workforces continue to become more decentralized, Airbnb no longer competes with hotels. Warehouse logistics face challenges as Christmas goods that came early pile up alongside spring items that arrived late. Port delays have caused warehouse vacancies to plunge and rents to soar as global trade finds its footing amid the pandemic. Every $1 billion increase in online sales equates to a need for an additional 1 million square feet of warehouse space, one group estimates. In the supply chain battle of 2021, small businesses are losing out to Walmart and Amazon - The Washington Post Shipping is broken. Here’s how to fix it. - VOX Nearly 70% of full-time remote employees say they have a second job, a new survey found. Younger professionals were more likely to be working two jobs, and half of all respondents say they do it to earn extra money either for personal reasons or to pay off a debt. Working two jobs may increase productivity, with 49% of those surveyed believing they are more productive. Remote Work and Moonlighting - HR Daily Advisor How a Side Hustle Can Boost Performance at Your Regular Job - The Wall Street Journal "7 in 10 Remote Workers have Multiple Jobs" - Resume Builder / Source: ResumeBuilder.com CONTENT FACTS Turbine Labs has tracked 22,427 media articles and blogs and 16,683 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Thursday, November 11, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
Trading platform Robinhood announced the personal information of 7 million customers — about one-third of its customer base — was exposed last week as the hacker demanded payment. The culprit obtained email addresses for about 5 million people and full names for a separate group of 2 million people, while a smaller group of about 320 people had additional personal information exposed. Robinhood gained notoriety in January after freezing trades on GameStop after a Reddit user-led run on trading. $6 million in ransom payments seized in cybersecurity crackdown - WRAL TechWire White House Highlights Cybersecurity Benefit in Infrastructure Package - NextGov @campuscodi: Breaking: Robinhood discloses security breach and extortion attempt -Entry point: Hacker social engineered a customer support employee -Hacker then collected the data of at least 5mil users -When discovered, hacker asked for a ransom payment The Mexico-U.S. border reopened to non-essential travel after 20 months Monday with fewer crossings than predicted as many residents stayed home to avoid potential chaos. The travel restrictions not only kept families apart but also hammered local businesses along the border for nearly two years. Historic division of ‘the two Laredos’ ends with border reopening - Al-Jazeera Nonprofit Warns Puppy Smuggling Increase as U.S.-Mexico Border Reopens - NBC San Diego @MayorToddGloria: Today, we're celebrating the safe and responsible reopening of our border with Mexico. We are a binational region with border communities that are sustained by the free flow of cross-border commerce. This will revitalize the regional economy and reunite our families. #ForAllofUs Long hours and uncomfortable working conditions during the pandemic worsened an already-existing trucker shortage and caused supply chain issues as warehouses overflowed while waiting for transport. While recent retirements of many drivers added to the shortage, drug tests have also driven the shortage as more than 72,000 truck drivers have failed required drug tests since January 2020. Mass. towns paying snowplow drivers up to $310 an hour amid shortage - Boston Truckers may be exempt from federal vaccine mandates - Fortune @jeannasmialek: Factory production should eventually meet demand. Ports ought to clear. But will there ever be enough truckers? Great read by @maddiengo @AnaSwanson U.S. Federal Reserve officials shifted their focus to a debate over how much longer high inflation can be tolerated by consumers and businesses. Vice-Chairman Richard Clarida said Monday that although current price pressures are “transitory,” if inflation continues at its current level it will signal a policy failure. Central bankers take sharply different readings of inflation threat - Financial Times Consumer inflation expectations reach new high: New York Fed survey - The Hill New York Gov. Kathy Hochul proposed a $450 million package to boost the state’s struggling tourism industry, including $2,750 payments to up to 36,000 workers who lost their jobs because of the pandemic. The package also includes $100 million in incentives for employers in the hospitality industry to hire back workers quickly, with employers receiving a $5,000 bonus for retaining workings for six months. New York City’s Tourist Industry Is Poised To Rebound - Forbes New York’s cultural institutions have a lot at stake as international visitors return. - The New York Times International tourists land and industry watches for comeback indicators - Crain’s New York Business "‘Team Transitory’ Joined by Citi Strategists in Inflation Debate" - Bloomberg / Source: Bureau of Labor Statistics CONTENT FACTS Turbine Labs has tracked 19,340 media articles and blogs and 15,577 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Wednesday, November 10, at 9:30AM ET. Questions or feedback?...
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A federal appeals court stayed President Joe Biden’s vaccine requirement for private companies as the court assesses the mandate more in-depth, delivering a significant blow to the administration’s attempts to increase vaccination rates. The court cited “grave statutory and constitutional issues” in its ruling to review. The order came a day after the Occupational Safety and Health Administration officially published its vaccinate-or-test regulation, which was met with its own set of lawsuits. Lawsuits over workplace vaccine rule focus on states' rights - Associated Press 84 million workers now have until January 4 to get a Covid vaccine — but these 6 myths are holding many back - CNBC Survey: Majority of Federal Employees Disagree With Biden’s Vaccine Mandate - Government Executive The House passed the long-delayed $1 trillion Build Back Better Act Friday in a bipartisan victory. Biden is expected to quickly sign the bill into law after months of debate. The bill will rebuild the country’s public works system, fund new climate initiatives and expand access to high-speed internet. Democrats will likely shift their focus to the social spending package now that the infrastructure bill is behind them. Cedric Richmond, top Biden aide, "very confident" infrastructure projects will begin by spring - Face the Nation How Biden’s infrastructure win falls short in one big area - Politico Biden's infrastructure win gives him some momentum. Here's why he needs that - NPR @POTUS: My Bipartisan Infrastructure Deal will build a national network of charging stations for electric vehicles and thousands of miles of new, resilient transmission lines for a clean energy grid. Together with the Build Back Better Framework, it will help tackle the climate crisis. Stagnation in the job market poses a serious challenge for the Federal Reserve as policymakers work to assess how close the U.S. economy is to reaching its full employment goal. The labor force participation rate has held steady at 61.6% for months, down nearly 2 percentage points from the February 2020 level. Americans Are Flush With Cash and Jobs. They Also Think the Economy Is Awful. - The New York Times @BChappatta: Treasury yields are tumbling across the curve after the jobs report. Move in the front end seems a bit much. Long end makes more sense: strong jobs report means "maximum employment" could be reached mid-2022, modest tightening begins, inflation cools off, Fed stops tightening. Amid the Great Resignation, employers are tapping into a previously overlooked group of workers: people with disabilities. With more people working from home and a tight labor market, disability advocacy groups see the current moment as a turning point for people living with a physical or developmental disability to enter or return to the workforce. Even with this shift, people with disabilities face an unemployment rate that is nearly double that of those without — 9% compared to 4.4% as of September. A vicious job market feedback loop is making the Great Resignation even worse — for employers - CNBC Benefits may be the answer to the great resignation - Benefits News The Great Resignation calls for a Great Re-engagement - Raconteur First Lady Jill Biden kicked off a pediatric vaccination tour Monday to push for more COVID-19 vaccination sites to support efforts to vaccinate children nationwide. Incentive programs around the country offered money, gift cards and tickets to attractions to incentivize children to get vaccinated. Sesame Street tweeted their support of child vaccination campaigns, prompting conservatives to label the tweets “government propaganda.” Child Vaccine Demand Underscores Deep Divisions in U.S. - Bloomberg Ted Cruz files bill to block COVID vaccine mandates for kids - Houston Chronicle @BigBird: I got the COVID-19 vaccine today! My wing is feeling a little sore, but it'll give my body an extra...
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A federal agency has issued COVID-19 vaccine mandates or weekly testing for workers at U.S. companies with 100 or more employees, giving workers until Jan. 4 to get fully inoculated. States, companies, trade groups and other organizations are preparing a rush of arguments in the nation’s courts to oppose the measure from the Occupational Safety and Health Administration. Ford will require its 32,000 salaried employees in the U.S. to get vaccinated by Dec. 8 or face unpaid leave, aligning with mandates for federal contractors. Vaccine mandates are surging in job listings - CNBC Health systems' trouble with vaccine mandates - Axios @JerryMoran: The choice to be vaccinated or not is a matter of personal freedom. I joined @SenatorBraun in introducing a resolution of disapproval under the Congressional Review Act to overturn President Biden’s intrusive vaccine mandate on private businesses. Jobless claims in the last week dipped to a new pandemic low, reaching 269,000 as the nationwide labor shortage continues. Some companies such as UPS, which pays its unionized drivers the highest wages in the industry, are still predicting a robust fourth quarter thanks to a stable workforce. Amazon is focusing its recruitment efforts on parents who left the workforce during the pandemic, debuting a program that offers more flexible scheduling for families. Why the labor shortage may go on for much longer - Marketplace Deere warns employees not to expect more as strike continues - Associated Press When Bonuses and Raises Aren’t Enough, Try Manicures and Free Clothes - The Wall Street Journal More than 40 countries pledged to shift away from coal at the COP26 climate summit, excluding some of the world’s largest coal consumers including the U.S., China, Australia and India. While global demand for renewable energy is on the rise, overall energy demand is growing faster, underscoring a problematic gap in clean energy supply as economic markets recover. Globe bounces back to nearly 2019 carbon pollution levels - Associated Press Tariffs to Tackle Climate Change Gain Momentum. The Idea Could Reshape Industries. - The Wall Street Journal Research shows COVID-19 did not stop clean energy jobs from rising - World Economic Forum A novel way to reduce emissions? China tries confiscating coal from households. - The Washington Post Coronavirus outbreaks are now “rippling” across China, marking the country’s most widespread outbreak since the first wave of infections that began in Wuhan in 2019. As the world’s top exporter of COVID-19 vaccines, China has begun leveraging its vaccine diplomacy to protect from other diseases such as pneumonia and hepatitis. World Economic Forum postpones China event due to COVID-19 - Reuters Quarantine-free Thailand faces tourism hurdle: China's COVID rules - Nikkei Asia @Robert__Rennie:Chinese authorities are ring-fencing Beijing against growing Covid-19 outbreaks now permeating in more than half nation’s provinces, seeking to protect capital gearing up for a meeting of top political leaders and Winter Olympic games in less than 100 days Ahead of a looming supply chain crunch this holiday season, alternative retailers such as the crafts-focused online marketplace Etsy could be poised for a more profitable season. The marketplace saw a 17.9% gross increase in sales over the last year. At the same time, experts are warning consumers that counterfeit products will likely pose an even greater threat. U.S. airline disruptions cast a pall over holiday travel - Reuters @deniseonKOMO: Black Friday returns-for real! No Turkey-Day shopping at Walmart, Target, Home Goods or Best Buy, all staying dark leading up to the biggest shopping weekend of the year. After feasting on #Thanksgiving dinner, shoppers can find #BlackFriday deals online. #komonews "Highly Paid Union Workers Give UPS a Surprise Win in Delivery Wars" - Bloomberg / Source: Bloomberg CONTENT FACTS Turbine Labs has tracked 19,065 media...
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The Centers for Disease Control and Prevention formally endorsed the Pfizer coronavirus vaccine for children ages 5-11, supporting the Food and Drug Administration’s authorization of the vaccine and paving the way for children to get vaccinated as early as this week. A hospital in Texas is preparing for a rush of 30,000 pediatric vaccine appointments made since the FDA’s authorization Friday, underscoring high demand for children to get the shot ahead of the Thanksgiving holiday. The Big Question This Thanksgiving: Are You Vaccinated? - The New York Times Country by country, scientists eye beginning of an end to the COVID-19 pandemic - Reuters Texas voters passed a pair of constitutional amendments on Tuesday aimed at curbing some issues that arose during lockdowns last year. One measure prohibits governments from limiting religious services and another allows residents in nursing homes and long-term facilities to have an “essential caregiver” who cannot be barred from visiting. Local elections also resulted in a win for Republican Glenn Youngkin for governor of Virginia, signaling a threat to Democrats in House and Senate races next year. Takeaways from Tuesday's elections: Bad omens for Democrats - Associated Press In New Jersey, GOP candidate’s small lead keeps Democrats anxious - The Washington Post The Federal Reserve is expected to announce on Wednesday its plans to reduce its bond-buying program, marking the biggest step yet in reversing pandemic-era stimulus. Policymakers must now shift their focus towards how to handle surging inflation that is lasting longer than anticipated. Biden Says He’ll Announce Pick ‘Fairly Quickly’ for Fed Chair - Bloomberg @thehill: .@SenSchumer: "Build Back Better will be fully paid for and will ultimately relieve our nation's inflationary pressures. Don't take my word for it. Many leading economists have made clear that this legislation would improve, not worsen inflation." Digital real estate company Zillow will phase out its home-buying unit, citing the inability to forecast home prices due to the volatility of the market. The company said in its earnings release that with the elimination of the unit it will also cut 25% of its workforce. Waiting for a big drop in home prices? It could be a while - HousingWire @darrenrovell: A reminder to stick to your core business. Zillow’s core business wasn’t real estate. It was real estate DATA. Suicides in the U.S. fell for the second year in a row in 2020, even as pandemic-related stressors took a toll on Americans’ mental health. The number of suicides dropped 3% last year after cases soared 35% from 1999 to 2018, according to the CDC. However, the preliminary data showed increases in the number of suicides among young adults as well as some people of color. Why Won’t Employees Use Their Companies’ Mental Health Benefits? - The Wall Street Journal @Girlguiding: Children and young people face significant gaps in mental health support despite rise in demand, warn @CYPMentalHealth. Our #GirlsAttitudesSurvey showed alarming decline in girls’ wellbeing. We want young people's wellbeing prioritised in the recovery. https://bit.ly/2ZHYaML "The new faces of Covid deaths" - NBC News / Source: NBC News CONTENT FACTS Turbine Labs has tracked 18,946 media articles and blogs and 22,678 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Thursday, November 4, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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About 9,000 municipal workers in New York City were put on paid leave for refusing to comply with the city’s vaccine mandate, which took effect Monday. Officials voiced concerns over the danger of unfilled public safety roles, including 18 out of 350 firehouses that were forced to go out of service. The clock is ticking for federal contractors to get their employees fully vaccinated under a federal executive order, even as heightened opposition to mandates has increased worker shortages across the country. Military weighs penalties for those who refuse COVID vaccine - Associated Press Alabama AG files suit to block federal contractor vaccine mandate- Fox News Federal contractors get broad flexibility to enforce Covid vaccine rules for millions of workers - CNBC Stretched supply chains and high prices slowed manufacturing activity in October, adding more doubt to inflation forecasts. New Bloomberg Economics supply indexes show shortages at near a 20-year high in the U.S. with similarly elevated levels in Europe. The risk is most apparent in industries such as the automotive sector, where shortages could threaten growth in the broader economy because of its ripple effects on employment. Clogged U.S. supply chains lead to cargo theft - CBS News Bixby Schools Closed Wednesday Due To Bus Driver Shortage - News on 6 @SenDuckworth: If we’re serious about reshoring manufacturing and building resiliency in our supply chain, we must raise the bar on our Buy American policies to help ensure taxpayer dollars go back into the U.S. economy. Tuesday marks Election Day in local communities across the U.S., with voters set to determine governor’s races in Virginia and New Jersey. After the death of George Floyd, Minneapolis voters will decide whether to disband the city’s police department for a public safety agency. This year's race has the interest of political watchers across the country who are gauging the environment for the 2022 midterm elections. Election 2021: Virginia's in the spotlight, but here are the other races to watch - Fox News As Election Day nears, most U.S. adults say future of democracy is under threat - PBS News Officials on alert for cyber threats ahead of election day - The Hill Leaders from more than 100 countries pledged to end deforestation by 2030 during the first full day of the United Nations climate conference, committing nearly $20 billion of public and private funds to protect and restore forests. President Joe Biden called for more action to close the climate divides between nations during his speech, while global philanthropies including the Rockefeller and Ikea foundations pledged billions to help the energy transition in poorer nations. Methane regulation: EPA proposes new rules to limit planet-warming gas - CNN Corporate Climate Pledges Often Ignore a Key Component: Supply Chains - The New York Times @AdamSchiff: The planet is on fire. We must act. Now. Our heads have been stuck in the sand, and our politics at loggerheads. The G20 conference won't change that. We need action. Let's start by passing what's in this reconciliation bill and then fight for more. It's long overdue. About half of the flights to and from Beijing were canceled Tuesday as China tightened coronavirus restrictions ahead of the Winter Olympics. The strict “zero tolerance” policy for COVID-19 made headlines over the weekend when one positive case of the virus prompted officials to close down Shanghai Disneyland and test nearly 34,000 people who had attended the park. Yahoo pulls out of China amid ‘challenging’ environment - Associated Press @BonnieGlaser: At the G-20, the US & Canada are objecting to a reference to the 2022 Beijing Winter Olympics and Paralympics — requested by Beijing — “as a symbol of humanity’s resilience and global unity in overcoming Covid-19,” according to a diplomat. https://politi.co/3By9Y1g via @politico "Supply Chain Crisis Risks Taking the Global Economy Down With It" -...
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U.S. consumer spending increased slightly in September by 0.6%, a tell-tale sign that the economy remains in the grip of a pandemic prolonged by high inflation, higher prices and supply chain shortages. Annual inflation has remained far above the modest annual rates of 2% or less for months, but falling COVID-19 infections and recovering consumer confidence might signal a pickup in economic activity throughout the end of the year. Global stocks fall, U.S. dollar climbs on inflation worries - Reuters U.S. Prices, Wages Rise at Fastest Pace in Decades - The Wall Street Journal @carlquintanilla: "The market conversation will soon shift away from supply chain strains & inflation toward double-ordering, product gluts, and disinflation .." - @knowledge_vital @Reuters American Airlines canceled hundreds of flights Sunday due to weather and staffing shortages. The airline has canceled more than 1,500 flights since Friday, highlighting the months-long struggle airlines have been facing as travel has picked up in the pandemic. With demand steadily rebounding, staff cuts from over a year ago have hampered the industry. Australia eases international border restrictions for first time in pandemic - Reuters @hblodget: Excellent charts from @calculatedrisk showing real-time state of US economy. Some stats: - Air travel now 82% of normal (2019) - Restaurants, hotels, gas ~90% of normal - Movies now 75% of normal - NYC subway use now 40% of normal A Gallup Poll found 36% of U.S. employees say their employer requires all workers without a medical exception to receive a COVID-19 vaccination, a 9% increase from the same poll taken in July. Many are challenging vaccine mandates, with the Supreme Court on Friday denying a request to block a Maine rule requiring certain health care employees to be fully vaccinated. Covid-19 Vaccine Mandates Turn Into Religious Tests at GE, Disney—Some Longer Than Others - The Wall Street Journal NYC's employee vaccine mandate is now in effect. Here's what it could mean for first responders - CNN @toadmeister: One in six New York City public servants remain unvaccinated and are expected to be put on unpaid leave from tomorrow as the city's vaccine mandate comes into force. Microsoft said it plans to partner with community colleges across the country to help fill 250,000 cybersecurity jobs over the next four years. Microsoft believes it can reduce the country’s workforce shortage by 50% by 2025. Microsoft and Sega exploring strategic alliance for Azure, next-gen game development - Windows Central Microsoft Becomes World’s Most Valuable Stock as Apple Drops - Bloomberg The U.S. cyber workforce gap is getting bigger - The Washington Post American’s opinions regarding the U.S. economy have become increasingly negative in the past months, with nearly half expecting economic conditions to continue to worsen in the next year, according to a new poll. Just 35% of Americans call the economy good and 65% call it poor, compared to September when 45% of Americans called the economy good. Labor shortage, supply constraints and inflation hold back economy trying to emerge from pandemic - CNBC Forget Q3, U.S. Economy Likely to Regain Pace in Q4: 5 Picks - Zacks Investment Research "New data show Fed's inflation debate still unresolved" - Reuters / Source: Bureau of Economic Analysis, St. Louis Federal Reserve CONTENT FACTS Turbine Labs has tracked 10,228 media articles and blogs and 9,880 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, November 2, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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The U.S. economy grew at a 2% annualized pace during the third quarter of 2021, the slowest pace in more than a year, likely caused by supply chain constraints creating shortages of goods that stifled consumer spending. Gross domestic product grew 0.5%, down from 1.6% in the second quarter and the weakest growth since pandemic recovery began in the spring. As the year comes to a close, the pandemic’s grip seems to be easing but supply-chain issues are not. Consumer Spending Likely Grew More Slowly in September - The Wall Street Journal The market is starting to price in more interest rate hikes than the Fed is indicating - CNBC @byHeatherLong: US economy grew just 2% in Q3 -- the weakest by far in this recovery as Delta took its toll. Big declines in Federal gov't spending as stimulus starts to fade. Also big drops in biz investment, esp. weak buying of equipment & residential investment likely due to supply chain woes Facebook Inc. has changed its name to Meta Platforms Inc., demonstrating the company’s shift from a global social network to an emerging computing platform focused on virtual reality. The change highlights Mark Zuckerberg’s desire to transition the Silicon Valley company’s focus to the next digital frontier: the unification of disparate digital worlds into the metaverse. The Facebook app that is used by almost 3 billion people around the world each month will keep its name. Enter the metaverse: the digital future Mark Zuckerberg is steering us toward - The Guardian Microsoft announces plan to cut cybersecurity workforce shortage in half by 2025 - CNBC @evan_greer: I took a dive into the "Metaverse" and went on the BBC to talk about Facebook's rebranding and how we need to fight tooth and nail to ensure that the Mark Zuckerbergs of the world don't define and control the next generation of the Internet. A Kaiser Family Foundation survey found 37% of unvaccinated workers say they will quit their jobs if their employers mandate vaccines or force weekly coronavirus tests, with 72% of unvaccinated workers saying they will quit if their employer does not offer the testing option. So far, 5% of unvaccinated adults have left a job due to a vaccine mandate. The Biden administration’s vaccine mandate rule for private-sector employers allows businesses to force workers who refuse to get the COVID-19 vaccine to pay for required weekly tests and masks. Pandemic to endemic: How the world can learn to live with COVID-19 - McKinsey & Company Iowa lawmakers pass vaccine mandate exemption bill - Associated Press Air Force is first to face troops’ rejection of vaccine mandate as thousands avoid shots - The Washington Post Migration to rich countries plunged last year as the pandemic closed borders and businesses, but industries that rely heavily on migrant labor are reopening, signaling a rebound from worker shortages. The number of migrants arriving in its “mostly rich-country members” in 2020 fell by almost a third to 3.7 million, the largest drop since 2003, according to the Organization for Economic Cooperation and Development’s annual report. Immigrants could fix the US labor shortage - Vox Why is Amazon stock crashing? Blame supply-chain issues and labor shortages - Fast Company @RepLouCorrea: The immigrant story is the American story. This #NationalImmigrantsDay, we honor the enormous contributions immigrants have made and continue to make to our country. We also must take action. That’s why we need to include an immigration reform in the reconciliation package. The White House’s Build Back Better plan announced Thursday contains a $555 billion package of tax credits, grants and policies aimed to reduce greenhouse gas emissions, the largest clean-energy investment in U.S. history. The investment is part of President Joe Biden’s $1.75 trillion spending bill and if passed, environmental experts said the legislation could create momentum to slash pollution levels and address climate change on a...
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WHAT YOU NEED TO KNOWStock futures http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaCA1UD5F_eAbLrQX0Oszu4xoRPBXEUf5uT-7ZulMhc1BYuIfpWXGfdvCgBOyiKFGnXXmklz_BDSHb-N7hZBcwSlMBmJv0e1P3OCZvX6he9iC/3gj/2Ut1rrYrT0umouetV6l4HA/h7/T7XA7wBBgAIRReNv8KaRF44h30xfCAIOixA6sLi6qt4 (edged) slightly higher Thursday as jobless claims http://url3158.turbinelabs.com/ss/c/Mu91vZHQbC7rXgwWVsd1eLrfERdpecIiqrfAX_pr2JxOWXOIWGOqn0GId1ZPxtVDNkXQlpTZoDQsyw3nr1bgtADbb4wVDn2DUjgswyhPvfTVltvFIcre7qFFy6pYNmpyxwSYmIsxdiqplak7_GVgjTe-UYOfADKbbkdD_aLoMKw/3gj/2Ut1rrYrT0umouetV6l4HA/h8/FrH7RmnqC29J_Z1tusPjl6adH8r_l8fJHRfZ2Tz-qeU (dropped) to 281,000 to another pandemic low last week after a Wednesday http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaCA1UD5F_eAbLrQX0Oszu4xoRPBXEUf5uT-7ZulMhc1BYuIfpWXGfdvCgBOyiKFGnd0On8fUk5NnnW4iCJlhiutHNrqJtu33BPUQmYKj61c7/3gj/2Ut1rrYrT0umouetV6l4HA/h9/EdDrR1Qa4dBpY2vsn5XpKZg48ChkN25bcUTUtr067dU (filled) with choppy trading. Despite nearly http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaKCd6_2WtonU8ozRR1kPSVhFjU1RyF_D-JMuuOGCEubfD1TnG6Nn4S_7yAYVGAQ-EKW5jgM-dvIALjCPrgSrbb0/3gj/2Ut1rrYrT0umouetV6l4HA/h10/FW3_tPj30WU5fxHGG3SGMbIdutu7SQIJMt_0hRmlQUE (doubling) Wall Street’s earnings expectations and slightly beating revenue projections for the third quarter, Ford Motor’s net income of $1.83 billion still fell 23% when compared to a year ago. General Motors’ profit http://url3158.turbinelabs.com/ss/c/Mu91vZHQbC7rXgwWVsd1eLrfERdpecIiqrfAX_pr2JyhaIquxsjSFEjqxuzQ9J1mAQKoQiPy_rqMPv8Caogz6GgFq4hWrHhYFFoT1KbFA-8aAJ6g-DhB09HuTr1ldYIJ/3gj/2Ut1rrYrT0umouetV6l4HA/h11/sURoEjMYPlx-i3dBLwXs1nNxfb1SH4KmGwcifIsmrK4 (dropped) 40% to $2.4 billion, signaling the toll the global computer chip shortage had on third-quarter profits. http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaP959FCxFmeGR5niGi9igTgwo3c7MG09Zg0rRQt6bUoBCxRgAkG3bINPWBKyLIyg3t2RUUcgy4gRe987UscUsTdVkMWh9C7OOkOR7OpbLbZuhDbQN14CXobmvasgxXUeND-uh3BAs7fClKS8SpcWy_g/3gj/2Ut1rrYrT0umouetV6l4HA/h12/LDSOPmpOGqqM-dzABwKQ1zS0HIoMJbcNaAuj1TFy-Zs (Volkswagen and Stellantis take financial hit amid chip shortage) - The Guardian http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaKCd6_2WtonU8ozRR1kPSVgem37c5vRHM32Cz8afmamWaDyZsS_szGyx-43Fb_VFB9IcGeyueNvf4jrMcNdb-v6y_eAz6EJHIduBonfv3wUm/3gj/2Ut1rrYrT0umouetV6l4HA/h13/-FvYlCLZq4RmqywBi6TO84nc29dsWdZFAfaaAzNVnGI (The picture won’t be pretty for third-quarter economic growth, but it should get better) - CNBC http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaCA1UD5F_eAbLrQX0Oszu4zK4FT8ORDeBbQLVQ2e2Tmy1UMdMd4V3wMAaESCw1kCHl9ZyiA6LNSd_MZVeAKrbIeugrpjjA1y7dPrtpp3P9YB/3gj/2Ut1rrYrT0umouetV6l4HA/h14/m6f0UOTrLEro2-jBlpccZcn3vUpLz68T_dogLb-2WvA (U.S. Economy Slowed in Third Quarter on Delta Surge, Supply Crunch) - The Wall Street Journal The affordable, easily accessible antidepressant drug fluvoxamine might be the next http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaPIyajerpZ9WL0qr8TPOALsVAfouPcx072JdgszBSt2_qzrQcNq4JYf1AQjHHQgvJ_IRPe8s094nfnQp57-xH5E7v41AuKbMutqxIQi_4Pca/3gj/2Ut1rrYrT0umouetV6l4HA/h15/76LapKJVcRDCtaT6vyPleLtV84GP6sVrxJs2tsf1wZI (weapon) in the fight against COVID-19. Just under 11% of patients http://url3158.turbinelabs.com/ss/c/v25LA9c_hMaywdG17KBjaC-ik_AoAw1UQHds8JLSV9RuMLPTPoNFiev-keUxbTjP0u3h-xCBXHWPcyPNyMpxf5oIg8DD3PZZgcyYwchahOVjyRk_Cml_IYYMq1gGae3XhRY6oihtSsTD-jpZ6RXhmKN_jluaBwQVEotp_NdNk3CshRlE46zsmPJXUXJ9ZFD5/3gj/2Ut1rrYrT0umouetV6l4HA/h16/50FW6cVe6tH6ly5aTG94YplD9hJlxQeD94KSTsuT0X8 (given) the antidepressant twice a day for 10 days were hospitalized or needed emergency medical care when compared to almost 16% of those given a placebo in a trial of about 1,500 patients, according to a Brazilian study. The results...
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Emergency rooms across the country are filling with patients even as COVID-19 cases continue to fall, underscoring the large number of patients who delayed treatment during the delta surge and now face worsened symptoms from other illnesses. The number of new daily coronavirus cases has plunged 57% since peaking on Sept. 1, but many people who come to the ER are being treated by ER doctors for long-term care roles they weren't trained to do. FDA Panel Recommends Vaccine for Children 5 to 11 - The New York Times It Turns Out Paying People to Take the Covid-19 Vaccine Doesn’t Really Work - The Wall Street Journal @lindy2350: Starting exposure therapy at home with my 7yo today to get ready for the Covid shot. Step one of her fear hierarchy: Smelling rubbing alcohol. A “red hot ad market” has boosted quarterly earnings for Google and other technology companies, with digital ads skyrocketing as consumers shifted their purchases online. Spotify expects to have over 400 million users by the end of the year, with ad revenue up 75% due to the platform’s growing number of podcasts. Futures Struggle Amid Mixed Earnings; Bonds Gain: Markets Wrap - Bloomberg GM beats Wall Street’s third-quarter estimates, guides toward ‘high end’ of 2021 earnings forecast - CNBC McDonald's Q3 earnings jump as bigger orders, menu deals boost sales - Yahoo Finance The Federal Trade Commission is investigating whether Facebook engaged in deceptive conduct after company research identified the ill effects of the social media platform on its users. The scrutiny follows a series of leaked company documents, now dubbed the Facebook Papers, that have driven reports in the news media on their contents. Fresh media investigations suggest that Facebook chose to shelve suggestions in March over how to quell vaccine misinformation. TikTok and Snap want to prove they’re not Facebook - The Verge There’s a Better Way to Use Instagram (and Even Facebook) - Slate Beijing is racing to control coronavirus outbreaks with 100 days until the Winter Olympics, compounding obstacles that China faces with growing calls for a boycott over its crackdown on Xinjiang, Tibet and Hong Kong. While the current outbreak is considered small by international standards, just one case represents a challenge to the country's zero tolerance approach for the virus. China Covid Spike Wipes $4 Billion Off Hot Pot Firm This Week - Bloomberg U.S. drug company Merck to share license for experimental covid-19 treatment with non-profit - The Washington Post Australia officially allows vaccinated residents to travel outside the country - CNN @SchreiberEvan: If you thought the Tokyo rules were strict......BEIJING (@AP) — Chinese organizers confirmed participants in the @Beijing2022 Olympics will be strictly isolated and could face expulsion for violating COVID-19 restrictions. @KATUNews #LiveDesk Cigarette sales rose in 2020 for the first time in 20 years, most likely fueled by the pandemic. COVID-19 increased rates of anxiety and depression across the country, while less money spent on travel, gas and entertainment last year led to more “tobacco-use occasions.” Vaccine eligibility for mood disorders underscores elevated covid risk - The Washington Post People Are Using Marijuana to Treat Anxiety and Depression, but the Science Is Murky - The Wall Street Journal @APA: For many Americans, the prolonged uncertainty of the #COVID19 pandemic is a significant source of stress and anxiety. Research from @kate_sweeny's Life Events Lab at @UCRiverside helps us understand the best ways to cope. "Covid Cases Keep Falling" - The New York Times / Source: New York Times database CONTENT FACTS Turbine Labs has tracked 22,946 media articles and blogs and 15,687 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Thursday, October 28, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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The largest police union in New York City is suing to challenge the city’s COVID-19 vaccine mandate for all city workers. The Police Benevolent Association of New York said it opposes the mandate because it does not allow the option of being tested weekly instead of vaccination. The union also claimed the mandate does not contain sufficient protections for religious belief exemptions. Ron DeSantis wants to pay anti-vaccine police $5,000 to relocate to Florida - The Guardian Business groups ask White House to delay Biden Covid vaccine mandate until after the holidays - CNBC @Rita_Katz: Emergency workers marched against NYC vaccine mandate today. Mandate will apply "to roughly 160,000 employees who have not yet been required to get a shot...As of last Tuesday, the overall NYPD vaccination rate was 71 percent...city workers are even lower" Experts advising the Food and Drug Administration are set to meet Tuesday to consider whether a pediatric dose of the Pfizer coronavirus vaccine should be offered to 5- to 11-year-olds. A positive recommendation would likely lead to a string of decisions that will expand vaccinations in the U.S. to millions of young children. Last week, the FDA confirmed the shot was found to be safe and 90.7% effective at preventing symptomatic COVID-19 in the age group. Moderna says its COVID-19 vaccine protective, safe in young children - Reuters We asked a pediatrician about the COVID-19 vaccine for kids. Here's what he said - CBS News @GovPritzker: As a father myself, I know this day is a long time coming for many.Thanks to scientists and doctors who’ve worked tirelessly for the last year, we are likely just days away from having the COVID-19 vaccine available for 1.1 million more Illinois children ages 5 to 11. President Joe Biden signed an order Monday imposing new vaccine requirements for most foreign national air travelers while also lifting some travel restrictions on China, India and parts of Europe starting Nov. 8. The White House also said both unvaccinated and vaccinated Americans must obtain a negative COVID-19 test before re-entering the country. Under the restrictions, unvaccinated foreign nationals will be able to enter only in limited circumstances. Unvaccinated Americans to face tighter COVID testing requirements in new US travel system - USA Today Unvaccinated children and some people from countries with low rates will be exempted from new U.S. travel rules. - The New York Times @poloconghaile: Travellers from Ireland, Britain and most of Europe can fly to the US again from November 8, provided they are fully vaccinated, show a negative Covid-19 test result and sign an attestation. Here's all we know about the new rules... Democrats are wrapping up negotiations over their social-spending and climate bill, a first-of-its-kind proposal that taxes billionaires on the assets they own. According to tax experts and investors, the bill is expected to face challenges as it would require roughly 700 U.S. billionaires to pay taxes annually when their assets, like stocks, increase in value. Senate Majority Leader Chuck Schumer (D-N.Y.) said Monday there were up to four open issues that remain unresolved. The bill was initially drafted at $3.5 trillion and is now expected to cost between $1.5 trillion and $2 trillion. Democrats quietly scramble to include immigration provision in social spending bill - The Washington Post Proposed Tax on Billionaires Raises Question: What’s Income? - The New York Times Labor shortages and persistent inflation remain unpredictable, with 58% of U.S. companies reporting wage raises during the third quarter to combat resignations, an increase from 51% during the prior three months. The portion of companies reporting a worker shortage rose to 47% during the quarter as the cost of materials rose, according to a survey by the National Association for Business Economics. Investors are paying close attention to third-quarter results as COVID-19 continues to...
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U.S. stock futures edged slightly higher Monday as the five largest U.S. tech companies plan to report earnings this week, starting Monday with Facebook. Energy stocks have also continued to surge, challenging climate-conscious money managers who are now missing out on the world’s hottest stocks. Top Wall Street analysts see upside in these stocks as earnings season continues - CNBC From doom to boom, energy stocks power out of COVID shock - Reuters @DaisyMaxey: U.S. stock futures creep lower; S&P 500 on course to break seven-day winning streak; American Express and Honeywell International among the companies set to report earnings ahead of open #stocks #stockstowatch #investing Microsoft said Nobelium, the Russian-based agency behind the SolarWinds cyberattack, targeted hundreds more “resellers and other technology service providers” in its latest wave of attacks on U.S.-based computer systems. In a blog post, Microsoft said the attacks were part of a broader campaign over the summer that affected hundreds of Microsoft customers. The attacks come only months after President Joe Biden imposed sanctions on Moscow in response to a series of spy operations, hoping to limit cyberattacks. Russian SolarWinds hackers have a new target: the global tech supply chain - Fortune @carlquintanilla: “While we are clear-eyed that nation-states, including Russia, will not stop attacks like these overnight, we believe steps like the cybersecurity executive order in the U.S., .. have put us all in a much better position to defend against them.” $MSFT Corporate giants including Nestlé, Verizon and Procter & Gamble are betting consumers will continue to pay more for their products if they keep raising prices into 2022, offsetting fast-growing costs amid the supply-chain crisis. So far, price increases have paid off for makers of household staples, but some analysts question whether shoppers will start to seek cheaper, off-brand alternatives. A key measure of investors’ inflation expectations suggested the consumer-price index will rise by an annual average of 2.64% over the next decade, adding to concerns about rising consumer prices. Changing the inflation conversation - Axios There's No 'Supply-Chain Shortage,' Or Inflation. There's Just Central Planning - Forbes @MichaelRStrain: Consumer spending on goods was 15 percent higher in August than February 2020 (the month before the lockdowns began), and has been as much as 20 percent higher. The shortage of child-care workers continues to disrupt the U.S. workforce, sidelining the careers of women who would otherwise remain in the labor force. Household survey data showed more than seven million adults made personal adjustments within the past month when their children under 5 were unable to attend daycare due to safety concerns. Nearly one-third of parents with safety-related daycare interruptions used paid leave to care for their kids. House passes biz-backed bill adding protections for nursing moms - Reuters 3 ways to fix the vicious cycle that's disrupting childcare and making the labor shortage worse - Insider @POTUS: Under my Build Back Better Agenda, parents will not have to pay more than 7% of their income in childcare. Think of the difference this is going to make in the lives of families across the country. The build-up of greenhouse gas concentrations in the atmosphere rose to record levels in 2020, proving the world is “way off track” on climate goals despite pandemic-related lockdowns that were thought would curb emissions, according to the World Meteorological Organization. The amount of CO2 is now 50% higher than before the Industrial Revolution sparked widespread fossil fuel burning, driving up temperatures in excess of the goals of the Paris agreement and complicating the task for governments to avert dangerous levels of warming. Why 25 Previous Conferences Have Failed to Stop Climate Change - The Washington Post Yes, There Has Been Progress on Climate.
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Apple’s privacy change rolled out in April is beginning to disrupt the online ad market, hurting e-commerce players and creating challenges for tech companies. Snap cited Apple’s change as one reason it expects growth to slow in the current quarter. Snap shares fell 20% in after-hours trading after it made that disclosure in its earnings report. Facebook, Twitter and digital ad stocks drop sharply after Snap earnings - CNBC Snap tumbles, drags social media giants on Apple privacy tweak worries - Reuters @ericgarland: Facebook and Snapchat having trouble since Apple made it difficult for them to surveille you without a legal warrant. Well. GOOD. The Centers for Disease Control and Prevention officially endorsed booster shots for both the Moderna and Johnson & Johnson COVID-19 vaccines, approving the “mix and match” approach to the inoculations that means people do not need to match the vaccine they received for their initial vaccinations. The recommendations greatly expand access to the nearly 190 million people in the U.S. who are already fully vaccinated. Pfizer-BioNTech Booster Shot Restores Full Covid Protection - Bloomberg Beijing offering booster shots ahead of Winter Olympics - The Hill Poland to make COVID booster shots available to all adults - Reuters Real estate software and data firm VTS agreed to acquire an app company that aims to simplify office life by aiding in the booking of conference rooms, ordering food and getting through security. Though the majority of workers still haven’t returned to in-person work, the rate of workers returning to the office has been gradually increasing. Remote Work Can Be Better for Innovation Than In-Person Meetings - Scientific American To Get Ahead at Work, Lawyers Find It Helps to Actually Be at Work - The New York Times Want to Move to a New State But Keep Your Job? - Harvard Business Review Facebook is planning to change its company name next week to reflect its focus on building the metaverse and to pivot from being known primarily as a social media platform. The rebrand would likely position the blue Facebook app as one of many products under a parent company overseeing groups like Instagram and WhatsApp. Changing Facebook's name will not deter lawmaker or regulatory scrutiny, experts say - Reuters Facebook plans to hire 10,000 in Europe to build 'metaverse' - Associated Press Late Night Suggests a Few New Names for Facebook - The New York Times On top of ornaments, wreaths and items for presents caught up in America’s supply chain snarls, Christmas lights are in short supply this year. Americans are ordering an unprecedented amount of physical goods, partly due to stimulus checks, combined with clogged shipping ports and issues stemming from Asia. Supply chain bottlenecks have also increased shipping costs, forcing retailers to rethink the price of the Christmas lights they are able to get. Santa Claus Is Coming—But He’ll Skip Some Stores - The Wall Street Journal Christmas trees, sweaters, gifts in shipping mess: How supply chain issues will affect holiday shopping - USA Today @jdlahart: The Grinch didn't steal Christmas, and neither will retailers' supply-chain and labor woes. "CDC signs off on Moderna and Johnson & Johnson boosters and says people can get a shot different from their original one" - The Washington Post / Source: CDC CONTENT FACTS Turbine Labs has tracked 18,221 media articles and blogs and 17,219 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, October 25, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Weekly jobless claims hit a pandemic-era low last week with first-time filings for unemployment insurance totaling 290,000 for the week ended Oct. 16, down 6,000 from the previous period. Economists had estimated an even 300,000. The tight labor market has employers reluctant to lay off workers, encouraging unemployment claims to trend near their lowest levels since the pandemic hit in the spring of 2020. Labor shortage, inflation pose political obstacles for Biden - The Hill Yellen on US labor shortage: Businesses may have to pay more, but it's 'good for workers' - Fox Business @MarkCavitt: UNEMPLOYMENT: A total of 14,256 Michiganders filed first-time jobless claims last week, a decrease of 4,457 claims from the previous week. Only Texas and California had more residents file first-time unemployment claims last week (15,657 and 80,707). Investing became an opportunity that attracted new entrants amid the financial crisis spurred by the pandemic, many of whom were women. Female customers at Fidelity Investments increased by almost 10% between February 2020 and February 2021, and the stock trading app Robinhood saw women on its platform quadruple. You may have always known women are good with money --- now research confirms it - MarketWatch Women investors are still outperforming men, study finds - CNBC America’s COVID-19 outbreak is improving, averaging a 22% drop over the past two weeks nationwide. Experts in the U.S. are cautiously optimistic, but a newly-discovered mutation of the delta variant is under investigation in the U.K. Russia also reported COVID-19 infections with a new coronavirus variant believed to be more contagious than the delta one. The UK has more new Covid-19 cases than France, Germany, Italy and Spain combined - CNN What Colin Powell's death can and can't tell us about COVID breakthrough cases - NPR The pandemic reset the residential choices and aspirations of millions of Americans, prompting influencers to declare an “urban exodus”’ while others countered the name for the phenomenon as more of an “urban shuffle.” Populations in large cities fluctuated, with some urban areas gaining residents during COVID-19 and others losing residents. Experts conclude the pandemic reinforced and accelerated trends that were already underway, rather than creating new ones. How Working From Home Could Change Where Innovation Happens - The Wall Street Journal What I learned after running my startup while traveling for a year - TechCrunch Employee Perk: Work From a Company-Provided RV - PYMNTS Researchers discovered that those who viewed memes reported “higher levels of humor” and more positive feelings. Those who viewed memes that specifically referenced the pandemic also felt less stress than those who viewed non-pandemic-related memes. While experts say the pandemic is no laughing matter, they note that humor can be a powerful coping mechanism. Laughing through the pandemic: Seniors do comedy in Greenwich Village - AMNY Depression rates have tripled during the pandemic — how to recognize the signs and respond to them - CNBC @Clay_Masters: Was it really the memes we made along the way? "Covid means remote workers can live anywhere. So where’s 'anywhere'?" - Politico / Source: Census Bureau CONTENT FACTS Turbine Labs has tracked 20,064 media articles and blogs and 18,914 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Friday, October 22, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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The Food and Drug Administration is planning to allow Americans to receive a different COVID-19 vaccine as a booster from the one they initially received. A recent federally-funded study found that recipients of Johnson & Johnson’s single-dose shot who received a Moderna booster saw their antibody levels rise 76-fold in 15 days, compared with only a fourfold increase after an extra dose of Johnson & Johnson. Booster shots could soon be recommended for people as young as 40, source says - CNN Will Giving COVID Booster Shots Make It Harder to Vaccinate the Rest of the World? - Scientific American @KizzyPhD: I remember when @oldmanebro asked me which vaccine I recommended very early on, & I replied “That’s like asking me to pick between Prada and Gucci.” Re: “mix and match” of boosters…If approved, and you are in the recommended groups…don’t get picky with your protection. New York City will require all city workers to be vaccinated against COVID-19 or risk losing their jobs, Mayor Bill de Blasio announced. More than 65% of New York City’s residents are fully vaccinated, well above the national average of 57%. Thousands of unvaccinated workers across the U.S. are facing potential job losses as more states, cities and private companies enforce mandates for inoculation. Nearly 1,900 Washington state workers quit or are fired over COVID vaccine mandate - The Seattle Times Southwest Airlines will keep workers on the jobs who apply for vaccination exemptions - NPR Supreme Court won’t block vaccine mandate for Maine’s health care workers - Politico The federal government is planning to announce a partnership with the Children’s Hospital Association as part of the Biden administration’s push to offer COVID-19 vaccines to children. Millions of kids ages 5 to 11 will be eligible for inoculation following federal authorization ahead of the holiday season. Small Needles, Short Lines and Few Tears: Biden’s Plan to Vaccinate Young Children - The New York Times @jkwan_md: Vaccine Consult Service by @sickkids provides a "safe, judgement-free space to have an open conversation" with a pediatric Registered Nurse about the COVID-19 vaccine for children & youth (available in multiple languages) There are currently five million fewer people working than before the pandemic began, and three million fewer even looking for jobs. These numbers have resulted in workers up and down the income ladder wielding the most leverage they’ve had in decades and using it to demand higher pay, flexible hours, more generous benefits and better working conditions. There are millions of jobs, but a shortage of workers: Economists explain why that’s worrying - CNBC Local employers adapt to worker shortage with pay, hours, perks - The Atlanta Journal-Constitution America's factories were hurt by shortages of workers and supplies last month - CNN Supply chain disruptions are prompting panicked retailers and manufacturers to overorder or place orders too early, which experts say could result in distorted demand forecasts and unfulfilled orders. Supply chains have been impacted by container shortages, weather, COVID-19 infections and, most recently, China’s energy crisis. Procter & Gamble Uses Its Size to Lessen Impact of Supply-Chain Mess - The Wall Street Journal White House has weighed tapping National Guard to address mounting supply chain backlog - The Washington Post Double-Digit Price Hikes on China Exports Add to Inflation Risk - Bloomberg "Number of unemployed persons per job opening, seasonally adjusted" - U.S. Bureau of Labor Statistics / Source: U.S. Bureau of Labor Statistics CONTENT FACTS Turbine Labs has tracked 21,708 media articles and blogs and 16,122 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Thursday, October 21, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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American billionaires added $2.1 trillion to their fortunes during the pandemic, a new report found. The Institute for Policy Studies and Americans for Tax Fairness tracked billionaires' gains since March 2020, noting their wealth grew by 70%. Tesla CEO Elon Musk saw the biggest gains, surpassing former Amazon CEO Jeff Bezos as the richest person in the world. The wealthiest 10% of Americans own a record 89% of all US stocks - CNBC Everyone Feels Like They’re Being Left Out of the Global Pandemic Recovery - Bloomberg America's Cash Glut - The New York Times American Express will allow employees to work anywhere they want for up to four weeks a year, the credit card giant’s CEO announced in a memo to staff Monday. The effort comes as part of the company’s push to offer greater flexibility. A survey conducted earlier this year found that roughly a fifth of AmEx staff voted to work completely remote. Revisiting location-based pay in this era of remote work - MarketPlace @blsuth: AmEx will let employees work from wherever they want for at least four weeks a year. Worth noting that this is a trend that airline CEOs have flagged as a possible boon to business travel. Is working from wherever the new conference? Washington State University fired its head football coach following his refusal to get vaccinated against COVID-19, the school announced. Coach Nick Rolovich, whose salary of $3.1 million made him the highest-paid public employee in Washington, was dismissed as a state vaccine mandate was set to go into effect. Longtime ESPN reporter Allison Williams left the network after ESPN denied her request for accommodation to not get the vaccine. 'Eye-opening moment': City leaders, police departments push back over impending COVID vaccine mandates - USA Today Police in Chicago, Seattle, LA, oppose vaccine mandates for public employees - NPR @ColeHarvey: From this morning’s @SportsCenter , a recap of the vaccination decision that led to Washington St coach Nick Rolovich losing his job Monday. AD Pat Chun: “To be at this juncture is unacceptable on so many levels and antithetical to the WSU experience our athletes richly deserve.” Former Secretary of State Colin Powell died Monday due to complications from COVID-19 amid an ongoing battle with cancer. Powell was the first Black secretary of state and the former chairman of the Joint Chiefs of Staff. Powell suffered from multiple myeloma, a blood cancer that studies show can make the shots less effective. One study found that only 45% of patients with active multiple myeloma developed an “adequate” immune response after being vaccinated. The Threat, in Perspective - The New York Times Why vaccinated people dying from Covid-19 doesn't mean the vaccines are ineffective - CNN Colin Powell Is Proof We Need To Do Better For Immunocompromised People - HuffPost Gyms and fitness studios are seeing a rise in check-ins, according to the International Health, Racquet, and Sportsclub Association. Check-ins were 13% lower than the number recorded pre-pandemic, but the IHRSA noted these numbers will likely increase as nearly half of those who canceled their gym or fitness passes say they plan to rejoin in the next six to 12 months. About 22% of gyms permanently closed their doors during the pandemic. The Transformation of the Fitness Industry - The New York Times Mindbody acquires workout subscription platform ClassPass as fitness industry rebounds - CNBC "Remote Work Persisting and Trending Permanent" - Gallup / Source: Gallup panel CONTENT FACTS Turbine Labs has tracked 21,106 media articles and blogs and 13,659 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Wednesday, October 20, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Retail sales increased by 0.7% in September, defying expectations for a pullback amid supply chain issues, the Census Bureau reported. Compared with a year ago, sales were up 13.9% on the headline number. Experts attribute the uptick to students heading back to school and workers returning to the office. Facebook on Track for Holiday Ad Surge Despite Supply Chain Woes - Bloomberg Why Levi's is opening 100 new stores even as pandemic online sales boom keeps growing - CNBC Grocery store shelves bare? These products may be hard to find due to supply chain issues - USA Today China’s gross domestic product growth slowed to 4.9% in the third quarter after industrial activity in the country increased by a smaller-than-expected margin last month. Power shortages and wobbles in the property sector contributed to the Chinese economy’s slowest pace of growth in a year. Global stocks and U.S. futures wobble on China growth fears - Fortune China Faces Slower Growth Path as It Pursues Longer-Term Reforms - The Wall Street Journal @dlacalle_IA: China GDP disappoints. Grew 4.9% in the third quarter from a year ago. That missed expectations for a 5.2% expansion, according to Reuters. Industrial production rose by 3.1% in September, below the 4.5% expected by Reuters. Countries are rushing to place orders for the twice-daily antiviral pill called molnupiravir that has been shown to reduce the risk of hospitalization and death among those infected with COVID-19, but obstacles remain for broad access to poorer nations. Pharmaceutical giant Merck, which recently submitted data to the Food and Drug Administration, was criticized two decades ago for selling its H.I.V. drugs at prices unaffordable to Africa. Fact check: Merck's molnupiravir and ivermectin are not the same drug - USA Today The success of Merck's antiviral — and other COVID-19 pills in development — may depend on how quickly people start taking them - MarketWatch @daniel_kraft: #Molnupiravir in trial of 775 high-risk, unvaccinated people cut the risk of hospitalization & death in half. Also accelerates the clearance of infectious virus from the nose and throat, indicating that it may also help reduce the spread of the virus.\ Thousands of workers remain on strike across the U.S. demanding higher pay and better conditions. There have been strikes against 178 employers this year according to one tracker – a trend economists attribute to the Great Resignation. While large-scale strikes have garnered attention, not all work stoppages have been successful. More than 1,000 Alabama miners have been on strike since April and out of 14 oil workers who staged a walkout in New York, eight have been fired. A two-tier wage system roiled the auto industry. Workers today say no way - NPR Hollywood Strike Averted As IATSE & AMPTP Reach Deal On New Film & TV Contract - Deadline Great Resignation Causing 'Structural Changes' to the Workforce: BofA - Insider Furniture designer Herman Miller said office spaces are trying to remain relevant by making the barriers between the office and other places more permeable. One coworking space in Virginia weathered the pandemic by taking its desks outside. This trend has prompted office architects to experiment with landscaped terraces and open-air conference rooms. The big idea: Is the era of the skyscraper over? - The Guardian Meet Me in My Office, in Men’s Underwear on 5 - The New York Times Resimercial: The Terrible Word for Today’s Trendy Office Aesthetic - The Atlantic "U.S. retail sales beat expectations for second month in a row" - Axios / Source: FRED, Axios Visuals CONTENT FACTS Turbine Labs has tracked 6,112 media articles and blogs and 10,068 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, October 19, 2021, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
More than 10,000 workers at 14 John Deere plants went on strike Thursday after members of the United Auto Workers union said the company’s proposed contract failed to meet wage and retirement expectations. Union representatives said the circumstances are in the striking workers’ favor given the labor shortage. Workers for Kellog’s have been striking since Oct. 5 while the International Alliance of Theatrical Stage Employees said workers will strike at the beginning of next week if no deal is reached in their negotiations. The Strike Wave Is a Big Flashing Sign That We Need More New Union Organizing - In These Times State Senators show support of Kellogg’s employees on strike - KLKN @lyzl: Workers across Iowa today are on strike at the Deere plant and at the Curlys/Smithfield plant. Their demands are fair pay, to retire with dignity, and fair work rules. And so far, Iowa's senators and governor are completely silent US wholesale inflation rose 8.6% last month compared to the previous year as demand for a number of goods has outstripped supply and bumped prices up for consumer goods across multiple sectors. Logistic and economic experts said President Joe Biden’s attempts to ease supply chain constraints and rising prices in time for the holiday season are unlikely to be effective given the extent of labor shortages and supply chain congestion. In struggle to fix supply chain, small businesses fear losing out to larger companies with more spending power - NBC News As congestion threatens economy, Port of Baltimore is adding more ships and running smoothly - Fox Business Over 100 workers at the Los Alamos nuclear weapons laboratory in New Mexico have sued over the vaccine mandate, claiming the contractor who runs the lab for the U.S. Department of Energy violated their constitutional rights by unfairly denying exemption requests. Employees have said the lab may lose up to 10% of its employees due to the vaccine mandate. Chicago police union head urges cops to defy vaccine mandate - Associated Press U.S. pastors, advocacy groups mobilize against COVID-19 vaccine mandates - Reuters Covid-19 Vaccine-Mandate Bans Tread on Uncertain Legal Ground - The Wall Street Journal The Biden administration announced an investment of $100 million in the National Health Service Corps to address the U.S. healthcare worker shortage. The news comes as labor shortages in the healthcare industry have driven labor costs up for medical facilities. Some economists have said worker participation may not return to pre-pandemic levels as 2.7 million people remained long-term unemployed in September. The Great Resignation Is Accelerating - The Atlantic No unemployment checks for health workers who refuse vaccine - Associated Press The National Hockey League announced that all but four of its players have been vaccinated against COVID-19, showcasing a 99% vaccination rate as the hockey season begins. Vaccination policies in major league sports have varied across leagues as the NFL instituted a mandate for players and staff while the NBA put in place a number of restrictions for players unwilling to get vaccinated. The Brooklyn Nets’ Kyrie Irving defends his decision not to get vaccinated. - The New York Times ‘I will play under the conditions that have been set’: Tsitsipas backs Australian Open COVID measures - The Sydney Morning Herald @charlottecrrll: The WNBA has led the way when it comes to vaccines in sports leagues. Learn a little more on how their efforts stack up against other leagues "Amid 'Great Resignation,' banks see lowest turnover in years" - Consulting.us / Source: Crowe’s 2021 Bank Compensation and Benefits Survey CONTENT FACTS Turbine Labs has tracked 21,749 media articles and blogs and 19,730 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, October 18, 2021 at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Boeing said it will require nearly 125,000 U.S. employees to receive a COVID-19 vaccination by Dec. 8 under President Joe Biden’s executive order requiring federal employees and contractors to receive the shots. Boeing said its U.S. employees will either need to show proof of vaccination or have an approved medical or religious exemption. Boeing Deals With New Dreamliner Defect Amid Production Problems - The Wall Street Journal Biden employer vaccine mandate could be finalized as early as next week - NBC News Delta Air Lines CEO says 90% of employees are vaccinated against Covid without company mandate - CNBC Stock futures rose Thursday as major banks reported earnings. Bank of America’s third-quarter profit increased 58%, suggesting banks’ lending businesses are improving from a pandemic slump. The second-largest U.S. bank earned $7.69 billion, a $4.88 billion a year increase when compared to a year earlier. Stocks rise as Wall Street wades into bank earnings blizzard - Reuters Economic challenges piling up for the Biden administration - The Washington Post Those who received a Johnson & Johnson coronavirus vaccine are better off getting a booster shot from Pfizer or Moderna, according to preliminary data from a federal clinical trial mixing and matching COVID-19 vaccinations. Although all the vaccine combinations lifted antibody levels, Pfizer's and Moderna’s boosters appeared to have a higher increase in their antibody responses more often than those who received an extra dose of J&J. Johnson & Johnson Covid-19 Booster Shot Bolsters Immune Defense, FDA Staff Say - The Wall Street Journal U.S. FDA staff says Moderna did not meet all criteria for COVID-19 boosters - Reuters What to expect from FDA panel on boosters for Moderna, Johnson & Johnson vaccines - ABC News @Yamiche: A key federal advisory committee is set to begin two days of meetings that are expected to strongly influence decisions on whether at least some recipients of the Moderna and Johnson & Johnson coronavirus vaccines will soon be eligible for booster shots. Soaring natural gas and coal prices are putting pressure on power-generation companies to switch to oil, a trend that could add half a million barrels a day to global demand, the International Energy Agency said. Roughly half of U.S. households that use natural gas heat can expect to spend 30% more on their bills, according to the Energy Information Administration. The IEA increased its global oil demand forecasts for this year and the next by 170,000 and 210,000 barrels a day, respectively. From cars to gasoline, surging prices match a 13-year high - Associated Press Biden team asks oil industry for help to tame gas prices - Politico @ChuckGrassley: energy prices on rise incl crude oil up 64% + natural gas almost doubled in 6 mos + heating oil up 68% + coal prices at record high +Americans are paying $1 more at the pump than last yr + inflation =b4 winter weather causes prices to spike further energy independence in jeopardy Six in seven COVID-19 infections remain undetected in Africa, according to the World Health Organization, proving the pandemic’s impact on the continent with the fewest vaccinated individuals could be underestimated. Roughly 90,000 Americans likely died from June through September for failing to get vaccinated against COVID-19, according to Kaiser Family Foundation analysis. The study found the disease was the country's second-leading cause of death last month. Most African countries missed a target to vaccinate 10 percent of their people. - The New York Times Vaccines may have prevented a quarter-million Covid-19 cases and 39,000 deaths among seniors - CNN @thehowie: Quietly (without much notice by most), Russia is at a new record for cases and deaths today. They are one of least vaccinated countries in the world (31% fully vaccinated). "U.S. Consumer Prices Outpace Forecast as Inflation Dogs Economy" - Bloomberg / Source: Bureau of Labor...
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The House of Representatives approved a short-term extension of the debt ceiling by $480 billion on Tuesday, temporarily avoiding a fiscal crisis and putting off the risk of a first-ever default until December. The bill now travels to President Joe Biden’s desk for approval, allowing the Treasury Department to pay the nation’s bills until early December. Sen. McConnell warns Biden the GOP won't help with debt ceiling again - MSNBC What a U.S. debt ceiling extension means for bond markets - Reuters @RepDLamborn: This city has a spending problem. Instead of raising the debt ceiling, we should immediately work to reduce our ballooning federal deficit. Workers quit their jobs at a record-setting pace in August, with employment vacancies falling to 10.4 million during the month, a drop of 659,000 from July numbers. The Labor Department’s report showed quits, which are measured against total employment, hit a new series high dating back to December 2000. The quit rate is evidence of the considerable leverage workers have in today's economy. More Americans are quitting their jobs. Here is how to do it - Reuters 'The great reimagination of work': Why 50% of workers want to make a career change - CNBC Americans are quitting jobs at record rates, while job openings tick down - CBS News @byHeatherLong: Serious Q: When did manufacturing jobs become so unwanted? Is it covid exposure? Vaccine mandates? Lack of flexibility? In 2021, Americans are quitting manufacturing jobs at the highest rate we've ever seen. 306,000 workers quit manufacturing in August. 300,000 quit in July. U.S. stock futures remained mostly flat Wednesday as investors awaited the start of earnings season and a new inflation reading. A key measure of inflation expectations showed continued U.S. inflation growth in September as pandemic-related shortages of labor and materials raised prices. The Biden administration’s scramble to tame inflation - CNN Social Security Payments Could Increase the Most in 40 Years - The Wall Street Journal Cargo traffic jams are hitting glass bottles too. Your pantry staples could cost more - NPR @LizAnnSonders: Inflation surprises continue to look much worse than economic surprises … spread between @Citi Inflation Surprise and Economic Surprise Indexes has bounced off recent lows but still deeply negative The White House is expected to announce a pledge from the Port of Los Angeles, one of the country’s busiest ports, to operate around the clock Wednesday. By operating 24/7, the Port of Los Angeles will join the neighboring Port of Long Beach, California, and major Asian and European ports that operate continually. The White House is also set to announce that Walmart, FedEx and UPS will expand their hours of operation in an effort to address supply chain shortages. The global supply chain nightmare is about to get worse - CNN Apple may cut iPhone 13 production by millions as US warns of Christmas shortages - The Guardian Container ships stuck at sea as supply chain backlog hits U.S. ports - CBS News @joncoopertweets: "As the global economic recovery continues to gather steam, what is increasingly apparent is how it will be stymied by supply-chain disruptions that are now showing up at every corner," Moody's wrote in a Monday report. The U.S. announced it will lift restrictions at its land borders with Canada and Mexico for fully vaccinated foreign travelers in November, relaxing bans that have been in place for more than 18 months. The first phase, starting in early November, will allow fully vaccinated visitors traveling for nonessential reasons to cross land borders. The second phase, starting in early January, will apply the vaccination requirement to all inbound foreign travelers. As International Travel Returns, Confusion Over Vaccines Reigns - The New York Times @RepDelBene: This announcement is long overdue. After many months of hardship, reopening the northern border to our Canadian neighbors will begin to...
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Amazon announced its office employees can continue to work remotely if department leaders decide not to call workers back to the office. The decision is another adjustment to the company’s return-to-office plans amid a surge of delta variant cases. Amazon’s embrace of remote work comes as U.S.workers return to the office at a rate higher than any point during the pandemic. Anxious And Stressed Returning Office Workers Create Challenges For Companies - Forbes Remote work is causing anxiety levels to spike: Here’s what creative bosses are doing about it - Digiday Texas Gov. Greg Abbott issued an executive order Monday barring private companies from implementing vaccine mandates. The governor has asked state lawmakers to sign similar legislation into law, but urged Texans able and willing to get the vaccine to do so. Large companies with a presence in the state such as Facebook said they are reviewing the order and have not yet announced changes to their vaccine policy. As Biden's vaccinate-or-test mandate approaches, questions arise over enforcement - NBC News Nearly 90% of Washington state employees have complied with COVID-19 vaccination mandate - The Seattle Times Practical Strategies for Manufacturers Managing COVID-19 Testing, Vaccine Mandates - The National Law Review Drug manufacturer Merck applied for emergency use authorization of its antiviral COVID-19 pill Molnupiravir on Monday which, if approved, will be the first oral antiviral treatment for the disease. Observers have praised the medication and said it would be a “huge deal” if approved, although health experts warned that the drug is not a substitute for vaccination. The drug is expected to be available for U.S. residents later this year if approved by the Federal Drug Administration. Moderna has no plans to share its COVID-19 vaccine recipe - Associated Press AstraZeneca antibody cocktail study shows success treating COVID-19 - Reuters @DrLeanaWen: We need antiviral treatments because #covid19 is here for the foreseeable future. An oral, outpatient medication (like molnupiravir from Merck, if authorized) is an important tool to reducing the harm caused by the virus. Importantly, it does not replace the need for vaccination. Kraft Heinz CEO Miguel Patricio warned consumers to prepare for rising food prices as costs have increased with “inflation across the board.” Patricio cited heightened logistics costs and labor shortages in the U.S. as primary reasons for rising prices in the country. Economist Nouriel Roubini has said inflation is likely to continue ticking up while economic growth stagnates and predicted that the Federal Reserve is unlikely to raise interest rates. Stocks and bonds struggle under stagflation threat - Reuters There Is Shadow Inflation Taking Place All Around Us - The New York Times @PeterSchiff: This is the type of nonsense peddled by the mainstream media as being expert economic analysis. Higher #inflation isn't good for the economy, and it's particularly harmful to average Americans. Unfortunately it's not transitory and it will get much worse. Southwest Airlines canceled more than 2,000 flights over the weekend due to a number of factors ranging from weather challenges to air traffic control issues. The airline noted that because it has been operating fewer flights than before the pandemic rescheduling passengers was a challenge. While the airline’s stock shares slipped on Monday the company predicted flights will normalize this week. Pent-up travel demand could lead to holiday headaches - Axios Southwest Airlines, union insist pilots didn’t walk out to protest vaccine mandates - The Dallas Morning News Fauci says vaccine mandate for domestic air travel is not expected ‘immediately’ - The Washington Post "Will this holiday sparkle? Consumers are ready to bring the shine" - PricewaterhouseCoopers / Source: PwC Holiday Outlook 2021 CONTENT FACTS Turbine Labs has tracked 22,115 media articles and blogs and 21,727...
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The Arkansas state Senate passed a bill protecting an employee’s right to privacy regarding their vaccination status Thursday, and both the House and Senate sent identical bills to Gov. Asa Hutchinson to exempt employees from federal or employer vaccine mandates. Although Hutchinson has said he does not support a federal vaccination mandate, he expressed concern over placing a state mandate on employers and “defining the employer-employee relationship.” Employer Asks Workers Seeking Religious Exemption from Vaccine Mandate to Swear Off Tylenol and Tums - JD Supra Fired for refusing a Covid vaccine? You likely can't get unemployment benefits - CNBC @JournoChrisATL: Arkansas legislation would let employees opt out of workplace Covid vaccine mandates by testing negative weekly or showing immunity through antibody tests twice annually. Similar bills are pending in Ohio and Texas President Joe Biden encouraged more U.S. businesses to obligate workers to get COVID-19 vaccinations Thursday, saying it is vital to ending the pandemic and boosting the economy. The White House also released a report showing that vaccine mandates increased employee vaccination by more than 20 percentage points as more than 25% of businesses and 40% of hospitals have put vaccine requirements in place. Nearly 80% of eligible adults have received at least their first dose. As Covid fears in C-suite stay high, most big companies ‘totally support’ Biden vaccine mandate: CNBC survey - CNBC Mandating vaccines? How tracking tech can help with the next step - HR Executive With COVID-19 mandates rolling out, what to know about religious exemptions - ABC News @kylegriffin1: President Biden: "Here's the deal: These requirements are already proven that they work … The Department of Defense has gone from 67% of active duty force vaccinated to 97% ... Just six weeks into this vaccination requirement. That's how quickly it's moved." U.S. employment increased less than anticipated in September as government payrolls declined, but hiring could pick up in the coming months as a wave of summer infections subside. Non-farm payrolls increased by 194,000 as the unemployment rate fell to 4.8%. Federal Reserve officials continued a balancing act between fostering a return to full employment while managing inflation. Inflation has already cleared hurdle for rate hike, but employment criteria not met yet: Fed’s Mester - MarketWatch Survey: Increasing Number of Top Economists Now Expecting Fed Rate Hike Over Coming Year - Bankrate Jim Cramer says the key to taming inflation is beating Covid, not higher interest rates - CNBC Demand for new office space reached a 15-month high in August, hitting just 13% below pre-pandemic levels. Shared office space company WeWork reached $228 million in revenue in September and reached 60% occupancy, signaling an increased demand as more employers bring workers back to shared spaces. Portland Office Space Declines as Business Resumes - Willamette Week Reports: Boston, Texas and Florida at forefront of office space recovery - Connected Real Estate Magazine Toronto, Valparaiso, Berlin, Honolulu top list of best places for remote work - ZDNet Halloween stores are urging customers to buy costumes now as a nationwide truck shortage and fewer lockdowns put pressure on costume supply. Extreme weather impacted pumpkin growth nationwide amid pandemic-related shipping delays, creating another shortage for the fall season. Costco and other retailers will likely see constraints on Christmas trees this winter following droughts and global supply chain issues impacting the entire industry. Supply chain havoc is getting worse — just in time for holiday shopping - Vox Oh my gourd! Pumpkin shortage could impact Halloween - WCNC Toymakers race to get products on shelves amid supply clogs - Sentinel-Tribune @gutavsaraiva:On today's episode of "the supply-chain chaos that might ruin Christmas," @gerryfsmith and I write about how booksellers
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Los Angeles approved one of the nation’s strictest vaccine mandates Wednesday – a measure that would require the shots for everyone entering locations like bars, restaurants, nail salons and gyms. Employers are seeing success with vaccine mandates, with United Airlines, Tyson Foods, New York City schools and the NBA reporting vaccination rates that top 90%. Biden to Speak About Vaccine Mandates in Chicago - The New York Times Workers face mounting pressure to get their shots — or get fired - CBS News A Mississippi news anchor is off the air after refusing a coronavirus vaccine - The Washington Post @KayleeHartung: Get your vaccine cards ready LA Republicans offered a short-term debt-limit extension, helping stave off immediate concerns about a possible government default and pushing U.S. stock future higher Thursday morning. Concerns over whether the Treasury would be able to raise money to pay its bills have weighed on investors this week. What the Debt Ceiling Means for Social Security and More - The New York Times How The Debt Ceiling Debate Impacts The Average American - Forbes @WSJecon: Negotiations on the details of a debt-limit extension went late into the night Wednesday, but a deal wasn't finalized. “We’re making good progress...I hope we can come to an agreement tomorrow [Thursday] morning,” Senate Majority Leader Chuck Schumer said. Pfizer asked federal regulators Thursday to authorize emergency use of their coronavirus vaccine for children ages 5 to 11 – a move that could help protect more than 28 million people in the U.S. Studies published Wednesday confirm that the immune protection offered by two doses of Pfizer’s COVID-19 vaccine decreases after about two months, although protection against severe disease, hospitalization and death remains strong. Heart risks rare after Pfizer Covid vaccination, study finds - NBC News Pfizer study to vaccinate whole Brazilian town against COVID-19 - Reuters Allowing people to mix COVID-19 vaccines could cut into Pfizer and Moderna’s revenue next year - MarketWatch Complaints regarding job scams climbed during the pandemic, the Better Business Bureau warned. About 32% of complaints noted they did the work but were never paid, reporting a median financial loss of $1,000. The BBB said to verify employment offers to avoid becoming a victim of identity theft and losing money. Who scams the scammers? Meet the scambaiters - The Guardian Why today’s cybersecurity threats are more dangerous - CSO Online Recent investments in electric vehicle production are boosting jobs at some factory locations as more automakers gear up to make battery-powered versions of popular vehicles. Michigan is slipping from its position as America’s automotive epicenter, exacerbated by Ford Motor Co.’s $11.4 billion investment in new electric vehicle factories that will be located in Kentucky and Tennessee. The project will employ almost 11,000 workers. Whitmer: Michigan Wasn't Given Shot At New Ford EV Plants - CBS Detroit GM may double revenues as it pivots to increased capacity for EV assembly at factories - Detroit Free Press "Littler COVID-19 Vaccine Employer Survey Report – Delta Variant Update" - Littler / Source: Littler CONTENT FACTS Turbine Labs has tracked 16,673 media articles and blogs and 15,206 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Friday, October 8, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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ADP’s Employment Report for September beat expectations, showing 568,000 private-sector jobs added last month. The number of people receiving unemployment benefits fell by 55% to 5 million, cut from the 11.3 million who’d been collecting benefits the week prior. Pandemic-era programs that offered income support to the unemployed lapsed on Labor Day, with Congress opting not to extend them again. Here's Why Up To 6 Million Americans Who Lost Covid Unemployment Benefits Likely Won't Return To Work This Year - Forbes Newsom approves laws to revamp California's unemployment benefits system - The Los Angeles Times @charliebilello: ADP Private Payroll Report: 568k new jobs were added in September vs. 428k estimate. 19.6 million jobs were lost in March-April 2020. 14.1 million jobs have since been added back. Still 5.5 million to go. Good news: there are 10.9 million job openings. Stock futures tumbled amid investor concern about rising energy prices after oil prices climbed to their highest level in nearly seven years when OPEC and its allies declined to significantly ramp up production. An offshore oil spill in Southern California threatened some of the area’s most popular beaches and renewed calls for a drilling ban. Global Energy Crisis Is the First of Many in the Clean-Power Era - Bloomberg Oil spill causes problems for OC businesses that rely on beach tourism - The Orange County Register California oil spill: Pipeline wasn't shut down for more than 3 hours after pressure failure alert, feds say - USA Today Monday’s six-hour Facebook outage that also took down Instagram and WhatsApp prompted companies that rely on the network to reconsider using these platforms as their primary tool. Many small businesses use Facebook and Instagram to advertise, connect with customers and sell products and services. Facebook – the U.S.’s second-largest online advertiser – issued an apology to the business community and said advertisers were not billed for ads during the outage. Facebook’s outage frustrates advertisers heading into the holiday season. - The New York Times Facebook, WhatsApp outage an annoyance for US, but a big deal in rest of the world - NBC News @leticia: Facebook had a 101% spike in 2nd quarter profit led by a big increase in ad purchases and prices. Turns out, small- and medium-sized businesses (the same ones who had most to lose with the outage yesterday) made up a big part of that ad growth Food trucks, like many other businesses, re-evaluated operation during the pandemic without the reliance of a lunch hour rush fueled by office workers and the weekend bar crowd. Many adapted by selling in residential neighborhoods and embracing food delivery apps. As more restaurants turn to delivery apps, cities are moving toward enacting fee caps and addressing the working conditions for delivery couriers. Tortoise expands remote operated robotic delivery to convenience stores across the US - TechCrunch How much should you tip the delivery person during COVID-19? This woman was dragged on Reddit for tipping 10% - MarketWatch ‘Tired of being stepped on’: Instacart workers urge customers to delete app - The Guardian The four-day workweek is growing in popularity as studies indicate greater productivity, less burnout and a decrease in carbon emissions. The five-day, 40-hour workweek, which has been a staple in the U.S. since the Fair Labor Standards Act set new standards in 1938, is becoming less relevant as society shifts away from the male breadwinner model that has been around since the start of industrialism. How employers can experiment with the 4-day work week - Fortune Is the 4 Day Work Week a Good Idea? - Gallup @GreaterBoston: New England-based outdoor travel tech company The Wanderlust Group decided to cut Mondays from their workweek to help address pandemic burnout. “Productivity increased, happiness increased and our results speak for themselves,” CEO Mike Melillo said.” "U.S. Companies...
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Louisiana-based nonprofit Ochsner Health announced it will charge workers an additional $200 per month to insure their unvaccinated spouses or partners covered by the hospital group’s insurance policies due to the high costs of treating COVID-19 patients. If adult dependents wish to remain unvaccinated and avoid the fee, they can seek insurance elsewhere, Oschner said in a statement. Oschner already requires all 32,000 of its employees to be vaccinated unless they qualify for a religious or medical exemption. Judging 'sincerely held' religious belief is tricky for employers mandating vaccines - NPR Dept. of Health Addresses HIPAA Applicability to COVID-19 Vaccination Information - The National Law Review DraftKings is adding its second-largest office space in the U.S. with the plan to house more than 1,000 employees. The Las Vegas space will occupy 90,000 square feet in early 2022. DraftKings co-founder Matt Kalish said the move “further exemplifies DraftKings’ investment in its employees and the future of the company, as well as the local community.” Office space still a compelling investment — with risks - Advisor The Great Disconnect: Many More Employers Than Workers Want To Return To Offices - Forbes Remote work policies have enabled a mass exodus from Silicon Valley, leaving many former tech offices in San Francisco sitting empty. With the ability to work from anywhere, employees are escaping the San Francisco area, which is the most expensive real estate market in the country. However, Google employees could see a significant pay cut — anywhere from 5% to 25% — if they move from a more expensive hub like San Francisco or New York City. 39% of businesses increased productivity with remote work during covid restrictions - Acrofan 'We will never go back': These execs made big calls on remote work and are sticking to them - Dallas Business Journal Military personnel in the UK started driving fuel tankers Monday to combat a shortage of truck drivers that has closed some gas stations and caused panic buying and long lines at others. The country also issued temporary work visas for 5,000 foreign truck drivers to address the fuel crisis. With the crisis in its second week, some consumers fear that disruptions could continue into the holiday season. UK Braces for a Difficult Holiday Season Due to Shortages - The New York Times U.K. Services Prices Jump at Record Pace on Supply-Chain Woes - Bloomberg @pmdfoster: Downing St “infuriated” that only 27 of 300 immediate 3 month tanker-driver visas taken up…now the reason there are fuel shortages. (Fwiw plenty in industry suspected the scheme was set up to show immigration wasn’t solution). QED. X2. #brexit A recent Berkeley Institute of Governmental Studies poll found that minority-owned small businesses were negatively impacted more significantly by the pandemic than their white counterparts. The study also found that minority business owners were also significantly less likely to have applied for and received PPP loans. LGBTQ workers were 30% more likely to have lost their jobs in the pandemic, with nearly 80% of LGBTQ people of color reporting losing their jobs, according to a study by the Human Rights Campaign. Minority-owned businesses grapple with uneven pandemic recovery - Columbus Business First In Clearwater, Latino business owners feel effects of pandemic - Tampa Bay Times "The Graphic Truth: 50 years of US inflation vs interest rates" - GZero / Source: U.S. Bureau of Labor Statistics, Federal Reserve CONTENT FACTS Turbine Labs has tracked 16,274 media articles and blogs and 18,651 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Wednesday, October 6, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Accounting and consulting giant PricewaterhouseCoopers announced it will allow all 40,000 U.S.-based service employees — nearly three-quarters of its U.S. employees — to work from home. PwC employees may see a pay cut if they relocate to a lower-cost city to match current compensation levels in their new area. The announcement is the first of its kind from a professional services firm in the U.S. Remote work is popular, but ‘moments that matter’ happen onsite, say top executives - Fortune Hybrid Work Environments Require New Communication Strategies - Forbes @growingwisdom: Change with the times or make room for those who do. #WFH The Office of Personnel Management issued a memo Friday noting that President Joe Biden’s vaccine mandate for federal employees can be enforced starting Nov. 9. The memo advised agencies to begin enforcement with a five-day period of counseling and education and give employees a chance to show they started the vaccination process or request an exception. With a federal vaccine mandate coming, OSHA prepares for enforcement - NPR Biden urges public to get vaccinated after acknowledging 700K COVID-19 deaths - The Hill U.S. car sales dropped about 26% in September as the continued chip shortage and other supply disruptions cut into vehicle availability and fueled rising prices. Supply chain shortages will likely linger as cargo ships anchored off the West Coast could face a month-long delay to dock amid port staff shortages. Consumer prices hit a 30-year high in August as the PCE price index rose 4.3%. Audi CEO sees chip shortage as 'perfect storm' but will get through it - Reuters Global chip shortage hitting Samsung worse than Apple - Tom’s Guide @ianbremmer: The last time the US & Western Europe experienced sky-high inflation was in the 1970s, @adam_tooze reminds #GZEROWorld. We're still "working off the hangover" and panicking over inflation. "We need to update our economic vision." @gzeromedia The White House National Security Council will host a 30-country meeting to address ransomware and cybercrime, Biden said Friday. The session will also cover the illegal use of cryptocurrency. The Transportation Security Administration issued emergency regulations following a cyberattack on the Colonial Pipeline shut down earlier this year to prevent further attacks, although some critics say the regulations could impact pipeline reliability. Risky business: walking the tightrope between cybersecurity and business productivity - Teiss Companies are using a growing number of tracking services as employees work from home - NPR Three Tips For Equitable Digital Transformation - Forbes More airlines announced vaccine requirements for employees last week following United Airlines’ announcement that it will terminate 600 employees who refuse to get vaccinated. American Airlines, JetBlue and Alaska Airlines will require all U.S.-based staff members and some international crews to be vaccinated. Delta Airlines is currently evaluating Biden’s mandatory vaccine order. United CEO: Employee Vaccine Mandate Was “The Right Decision” - TravelPulse @warrenleightTV: I'm glad American Airlines is mandating the vaccine, but they should have taken action earlier. Like many fear-based corporations, they waited to see how it would work out elsewhere. United Airlines showed true leadership here, American Airlines hedged while people died. "Economists are optimistic about U.S. consumer spending. One reason why: lower-income households account for a significant proportion of excess savings and are more likely to spend it. An interesting chart from the Morgan Stanley team led by Ellen Zentner:" - Lisa Abramowicz on Twitter / Source: Federal Reserve Board, Morgan Stanley Research CONTENT FACTS Turbine Labs has tracked 8,014 media articles and blogs and 12,114 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, October 5, at 9:30AM ET....
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Drugmaker Merck said its experimental COVID-19 pill cuts the risk of hospitalization and death by half, a major advance in the fight against the virus if cleared by health authorities. Merk plans to immediately seek emergency authorization for the oral antiviral, called molnupiravir, marking the first pill to treat COVID-19. School boards across the country are seeking help from the federal government to protect them from an influx of threats stemming from coronavirus safety restrictions. The National School Boards Association said in a letter to President Joe Biden on Thursday that board members, students and staff members had experienced at least 20 instances of threats, harassment and acts of intimidation, mostly in response to mask mandates as well as critical race theory. More school districts, including California's second-largest in San Diego, are also mandating the vaccine for staff and students. Eurozone inflation climbed to its highest level in 13 years in September, driven by the reopening of economies after shutdowns. The rise was also driven by surging energy prices, deepening concern among policymakers in the area. European officials echoed those in the U.S., saying the current spikes appear to be “largely transitory,” but some have voiced concerns that official price forecasts are too low. Australian officials announced they will reopen the country’s borders to international travelers in November, signaling some resolve to accept the coronavirus in daily life. Travel restrictions will be dropped for fully vaccinated Australian citizens and permanent residents, with plans for restrictions on tourists, immigrants and students to be eased later. Portugal’s vaccination campaign has nearly reached its end, with about 85% of the country’s population and about 98% of those over 12 fully protected. The high rate offers a look to other nations at what the next steps could be to contain the virus. While the country’s health officials say they have achieved a good result, many are still worried about a winter wave and a rise in hospitalizations. CONTENT FACTS. Turbine Labs has tracked 19,297 media articles and blogs and 15,665 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, October 4, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Weekly jobless claims climbed again in the last week to 362,000, indicating sluggish hiring in the labor market. While many employers are desperate to hire more workers and hang onto the ones they still have, some fear that vaccine mandates could worsen the worker crunch. Oil executives say they are bracing for even more rapid turnover in field-level employees who are skeptical of vaccination. While up to half of unvaccinated workers have said in some surveys that they would leave their jobs if forced to get vaccinated, new research found that a much smaller fraction of workers follow through with leaving their jobs when mandates are in place. The rate of COVID-19 deaths is projected to decrease over the next four weeks, marking a reversal in the number of cases for the first time since June. About 55% of the entire U.S. population is now fully vaccinated, with health officials employing multiple strategies to boost protection. Los Angeles officials indicated they plan to vote next week on one of the most strict measures in the country that would require proof of vaccination to enter most businesses. The U.S. Senate reached a funding deal on Wednesday that will avoid a government shutdown, but pressure to increase the federal debt limit and avoid a government default are intensifying . Republicans said they will reject legislation in the Senate to increase or suspend the debt limit, which they hope to tie to Democrats’ massive social spending legislation. Paint is the latest material to be added to the list of shortages across the U.S., driven by raw material constraints and price inflations. Companies continue to warn of the dual challenge ahead this holiday season, in which a shortage of labor workers could compound supply constraints. Aladdin on Broadway was canceled on Thursday just one day after reopening due to breakthrough coronavirus cases, underscoring the struggles of the performing arts amid outbreaks. While Aladdin was the first and only confirmed cancelation for a reopened Broadway production since June, singers and other performing artists have announced a string of cancellations due to coronavirus detections. CONTENT FACTS. Turbine Labs has tracked 23,074 media articles and blogs and 14,712 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Friday, October 1, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Some mandates have successfully motivated workers to get vaccinated, but those holding out now face terminations. Several hospital networks in New York have begun to fire healthcare workers who did not get a coronavirus shot in time for the state’s vaccine mandate, while United Airlines said it will begin terminating nearly 600 employees who refused to comply. As mandates continue, the Centers for Disease Control and Prevention released a new study showing that the COVID-19 booster shot will likely cause side effects similar to the second shot. Coronavirus-related shutdowns at Vietnamese factories are causing the latest supply-chain headache for retailers, who say they were already expecting delays and shortages ahead of the holiday season. Outbreaks across the globe have caused lingering supply issues and higher prices for labor and shipping costs, although many economists are forecasting that U.S. recovery will regain momentum following a delay in spending driven by the delta variant outbreaks. U.S. Senators introduced legislation on Tuesday that would require critical infrastructure entities to report data breaches to the U.S. government. The legislation, which would mark the first requirement of its kind, comes after several high-profile cybersecurity incidents this year including attacks on Colonial Pipeline and JBS USA. Frustrated by logjams in Congress, the Federal Trade Commission is considering its own rule changes that would strengthen privacy protections for consumer data. State lawmakers in Alabama are weighing whether to use up to $400 million in pandemic relief funds to finance the construction of more prison space, underscoring the debate over how to address high coronavirus outbreaks in prisons. Opponents are urging lawmakers to consider sentencing reform instead of building more space. The U.S. justice department sued the state of Alabama in December over conditions in state prisons that put inmates at risk of peer violence and excessive force. U.S. officials have declared the ivory-billed woodpecker and 22 other species as officially extinct, highlighting the severity of extinction worldwide due to climate change and habitat loss. Scientists say the rise in the number of pandemics coincides with tropical deforestation, urging governments worldwide to do more to prevent the destruction of nature.
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President Joe Biden received his COVID-19 vaccine booster shot Monday afternoon at the White House following approval by federal health officials. Pfizer recently announced it is testing a pill that could help people ward off COVID-19 if a close contact gets the virus. The drugmaker also submitted data to the Food and Drug Administration to clear its COVID-19 vaccine for use in children ages 5 to 11. Orders placed within U.S. manufacturers for business equipment strengthened in August, extending to six months a solid run of robust capital investment that’s helping aid economic growth. The strong demand for computers and electronic products kept the spending on track – core capital goods orders increased 0.5% and shipment rose 0.7%. For the first time in his presidency, Biden faces a trust deficit among Americans when it comes to COVID-19. Business groups are growing increasingly frustrated as Labor Department officials move forward with Biden’s vaccine requirement, criticizing the administration’s refusal to engage in dialogue with the business community. After an initial dip in the beginning of the pandemic, advertising has soared. Digital advertising in particular is driving the boom, increasing from 48% of media spend in 2019 to 52% in 2020. As coronavirus fatigue sets in, advertisers have begun turning away from overt references to the virus. Grocery delivery service Instacart is expanding its advertising business, confident that consumers will continue to use the platform even as pandemic-related restrictions ease. Health experts expect the upcoming flu season to be worse than last year, which experienced an unprecedented lull due largely in part to coronavirus-related precautions. The flu’s absence spared healthcare workers, hospitals and the general population a second swell of sickness atop the pandemic, but some experts say the previous season left our immune cells without an “important annual reminder.” CONTENT FACTS. Turbine Labs has tracked 20,961 media articles and blogs and 19,985 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Wednesday, September 29, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly at turbinelabs.com
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New York state officials are mulling whether to use members of the National Guard to help with an anticipated shortage of healthcare workers as the state’s vaccine mandate for those workers takes effect Monday. Gov. Kathy Hochul outlined the National Guard option and other steps the state may take in a plan to increase the workforce if too many hospital and nursing home employees miss the deadline. A U.S. appeals court temporarily blocked New York City schools from imposing a vaccine mandate for teachers and staff over the weekend, authorizing a temporary injunction until a hearing on Wednesday to settle the challenge from a small group of public school teachers. Lawmakers face a showdown this week over President Joe Biden’s economic agenda as the Oct. 1 deadline for a possible government shutdown looms. An expected vote on the $1 trillion infrastructure package, slated for Monday, was postponed until Thursday, underscoring the fight ahead for Democrats’ $3.5 trillion social-spending package that could be the largest overhaul of the nation’s tax and spending priorities in decades. Providers in markets such as fossil fuels, metals and agriculture are facing an unexpected downside to booming demand during the pandemic. While last year’s demand was historic for many commodities, rising prices forced traders to borrow more money, a change that has particularly impacted smaller players. Some banks have scaled back their lending to commodities firms, while others are entering agreements more cautiously. Soaring power and gas prices in Europe threaten to squeeze the industry and force large increases in consumer electricity bills in coming months. As exporters such as Russia move to keep more natural gas home, countries are outbidding one another, prompting experts to predict a worsening crunch when temperatures drop this winter. Chancellor Angela Merkel’s conservatives were defeated in Germany’s election over the weekend, setting off the beginning of what could be months of negotiation to determine the next leader of Europe’s biggest economy. Olaf Scholz of the center-left Social Democrats took the highest portion of votes on Sunday. CONTENT FACTS. Turbine Labs has tracked 10,370 media articles and blogs and 10,762 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Tuesday, September 28, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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U.S. household wealth increased to a high of $141.7 trillion at the end of June, fueled by soaring equity markets that added over $3.5 trillion to household assets and the pandemic real estate boom. A White House economic analysis showed the wealthiest Americans pay much less in taxes than others. The analysis comes as President Joe Biden pushes to increase taxes on the rich to fund his economic agenda as part of his $3.5 trillion domestic policy plan. Why Reparations Are Needed to Close the Racial Wealth Gap - The New York Times Democratic Leaders Scramble to Find Areas of Agreement on $3.5 Trillion Spending Bill - The Wall Street Journal U.S. debt default could wipe out 6 million jobs and $15 trillion in wealth, Moody's says - CBS News First-time jobless claims jumped to 351,000 last week, the highest level in a month and well above the 320,000 Dow Jones estimate. Continuing claims data also increased by 181,000 to 2.84 million as the number of people receiving benefits fell sharply with federal programs slowing. Stock Futures wavered Friday despite the uptick in jobless claims and worries surrounding the Evergrande debt crisis in China. Labor shortages in US: Most, least impacted areas in the country - Fox Business The Delta variant is keeping the US economy from getting back to normal - CNN @carlquintanilla: JPMORGAN: “Since mid-June .. we have failed to find large effects in those states that ended benefits early in terms of regular jobless claims, alt-data indicators such as OpenTable dining and Google searches for ‘jobs’ .. state-level jobs and earnings growth ..” New York City became the first U.S. city to take aggressive steps towards improving food delivery employees’ working conditions by approving legislation that will set minimum pay and address the dangerous conditions for app-based food delivery workers. Pandemic lockdowns exploded the use of the food delivery industry, with the number of delivery workers rising to over 80,000. DoorDash now lets customers order alcohol - CNBC DoorDash Said to Lead Round in Flink at $2.1 Billion Value - Bloomberg @DanPriceSeattle: New York passed nation-leading protections for app delivery drivers: *Can use bathroom at restaurants *They get to keep tips *Minimum pay for trips. And that's the BEST in the nation. The gig economy really is like working in the year 1921 California Gov. Gavin Newson signed legislation addressing the working conditions for warehouse workers like Amazon by establishing new standards for companies to disclose productivity quotas. The legislation promises workers cannot be retaliated against for failing to meet an unsafe quota. It also bars the use of algorithms preventing workers from taking breaks, endangering their health and safety. E-commerce popularity skyrocketed throughout the pandemic with Amazon profits increasing nearly 200% since early 2020. New demographic data shows continued divide at Amazon - Reuters E-commerce fulfillment trends evolve in wake of pandemic - Talk Business & Politics As kids return to school and workers return back to the office, the childcare industry is unable to accommodate a continuing spike in demand. The pandemic pushed upwards of 2.1 million women aged 25 to 54 out of the labor force with only half returning, but the rebound is driven by women with a college education. The child-care crisis has become a global economic debacle. ‘Can’t Compete’: Why Hiring for Child Care Is a Huge Struggle - The New York Times Female MBA Grads Earn $11,000 Less Than Male Peers, Study Finds - Bloomberg Australia, Germany, Canada offer blueprints for easing US childcare crisis - Fortune @RepSylviaGarcia: Child care facilities are struggling, and that hurts both working families and child care providers. These are vital industries, and they need support. That's why we need to pass the #BuildBackBetter Act and build the #CareEconomy that works for everyone "Ordering in: The rapid evolution of food delivery" -
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The Food and Drug Administration authorized a booster shot after weeks of deliberation for some Pfizer COVID-19 vaccine recipients. People over 65 and those who are at risk of facing serious complications due to frequent virus exposure at their jobs were recommended a booster at least six months after a second injection. The booster aims to curb the pandemic and the dangerous Delta variant. World Health Organization officials reiterated opposition to the widespread rollout of booster shots for the general public. Annual peak Covid seasons are here to stay. The world of work will pay a big price - CNBC Most Americans will get booster shots soon, doctor predicts - TODAY Doctors Encouraging Flu Vaccinations, Warn Of Double-Punch With COVID-19 - KPBS @PrisonPlanet: The CEO of pharmaceutical giant Moderna says that even younger people will have to get vaccine booster shots at least once every three years, meaning that a two-tier society which punishes the unvaccinated could remain in place indefinitely. The Fed’s rate-setting committee indicated they expect to slow the asset purchases used to support the economy, predicting a raise in interest rates next year and sending a clear signal that policymakers are preparing to taper the $120 billion in monthly asset purchases as soon as November. Federal Reserve policymakers predicted an annual inflation rate of 4.2% by year's end, a 3.4% increase over what they were forecasting in June. US Stocks Rise as Fed Signals Possible 2022 Interest-Rate Hike - The Wall Street Journal Fed Officials See ‘Transitory’ Inflation Lasting Quite a While - The Wall Street Journal @johnauthers: This. The most sensible reading of what Powell just said is that the Fed starts tapering at $15billion per meeting, starting in November. That would get the job finished next June - and it's a more aggressive taper than most seem to be expecting. #FOMC United Airlines is the latest company to face criticism as the number of religious exemptions associated with an increase in COVID-19 vaccine mandates continues to grow. Six United employees filed a class-action lawsuit in Texas federal court, alleging the airline denied religious and medical exemptions from its coronavirus vaccine requirement and made the exemptions difficult to apply for. The suit alleges that if an employee secures a religious exemption, the company effectively terminates them. United was one of the first large U.S. companies to announce a vaccine mandate for its employees back in August. Vaccine mandates for travel are legal in the U.S. — and more are probably coming - CNBC Nurses Are In Short Supply. Employers Worry Vaccine Mandate Could Make It Worse - NPR Judge says NYC can move ahead with DOE vaccine mandate - New York Post @briantylercohen: After Maine implemented a statewide vaccine mandate, of the more than 33,000 healthcare workers employed at the 2 largest healthcare providers in the state, only 65 people quit over the mandate. That's 0.19%. Vaccine mandates work. U.S. home sales fell in August as near-record asking prices made buyers think twice, easing the frenzy the turbocharged housing market felt just a few months ago. August's existing-home sales declined 2% from July, the biggest monthly decline since April. Housing inventory declined 13.4%, but median house prices increased 14.9% in the same time frame compared to a year ago. Most overpriced housing markets: Idaho, Utah cities top US list - Deseret News This is how much it could cost to buy a house in the U.S. by 2030—and tips on how to start saving now - CNBC Robotic process automation, or software bots, became a critical tool during pandemic lockdowns and office closures, with up to 40% of companies worldwide turning to bots and other forms of automation to control everyday office tasks. The adoption of bots helped ease routine office work and offered more complex help like proofreading legal contracts at much higher speeds than remote workers alone. As more...
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The House passed a bill suspending the debt limit and preventing a government shutdown in an effort to prevent economic loss and distress. The legislation is likely to fall in the Senate as many GOP members have voiced their opposition to raising the debt ceiling. If the Senate rejects the plan, the government would run out of authorization to keep paying U.S. obligations sometime in October. Debt-Limit Suspension Passes House, Faces Standoff in Senate - The Wall Street Journal Congress's failure to lift debt ceiling would devastate US economy, study finds - The Washington Post @vermontgmg: The unseriousness of the GOP in governing over the last decade is the greatest modern threat the US faces. The debt ceiling is an insane self-destruct button in the US Gov that the GOP continues to play chicken with. Google announced plans to buy a $2.1 billion sprawling Manhattan office building on the Hudson River waterfront, one of the highest prices spent for an office building in the U.S. in recent years. Despite recently delaying plans to return to the office until January, the search engine giant joins other tech companies investing in prime real estate, signaling a jolt of optimism in the industry. Los Angeles firm spends $490 million on Seattle office building leased by Amazon - The Seattle Times Hines, Korean Pension Fund Bet Big on San Francisco Comeback - The Wall Street Journal They Never Could Work From Home. These Are Their Stories. - The New York Times Ready your organization for a hybrid work model - Fast Company @JimmySpencer: There’s a lot of good points about remote work in 2021. Work-life balance being chief among them. But when I look at my career, if it consisted of just remote and no work-social life, there’s no way I could have grown, learned and enjoyed work the same. It’s not all or nothing. President Joe Biden outlined a U.S. foreign-policy vision rooted in global alliances during his address to the UN, saying big issues facing the world, like climate change and the pandemic, can only be solved with countries with varying national interests working together. Biden is expected to announce Wednesday that the U.S. will purchase 500 million doses of the COVID-19 vaccine developed by Pfizer to donate to developing countries. The announcement comes as pressure grows on U.S. drug companies like Moderna to share its COVID-19 vaccine technology with nations in desperate need of more shots. Biden Tells The U.N. The U.S. Is Embarking On An Era Of 'Relentless' Diplomacy - NPR Biden to Push Global Plan to Battle Covid as National Gaps Widen - The New York Times More and more businesses are enforcing vaccine mandates as the coronavirus continues to spread in the U.S. Amtrak will require nearly all of its 18,000 employees to be fully vaccinated by Nov. 22. The San Francisco International Airport also said each tenant and on-site contractor must immediately require all on-site personnel to be fully vaccinated by Dec. 1. COVID-19 and the U.S. courts: challenges to vaccine requirements - Reuters School vaccine mandates aren't new: A history of requirements - CNET The House approved a bill Tuesday that would protect banks servicing state-legal marijuana businesses from facing penalization. The SAFE Banking Act would benefit marijuana companies that have been long hindered by the need to deal in cash due to federal restrictions. As the cannabis industry has continued to boom throughout the pandemic, businesses like Amazon urged the U.S. government to legalize marijuana to catch up with the growing number of states that have decriminalized cannabis use. Why The Feds Love Marijuana Legalization - Forbes Denver pandemic cannabis sales smashed records, according to new report - Denver Business Journal - Denver Business Journal Cannabis e-commerce startup Jane Technologies raises $100M after stellar growth - TechCrunch @RepLouCorrea: I support the Safe Banking Act. Let’s begin to decriminalize cannabis federally....
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Stock futures rose Tuesday after worries surrounding China’s property market caused a streak of calm in stock indexes, sending the S&P 500 to its worst day since May on Monday. The Tuesday morning increase was fueled by Asian markets stabilizing overnight, helping U.S. sentiment after concerns surfaced of potentially devastating default debt for Chinese property developer Evergrande. Cramer says U.S. economy unlikely to face major damage from struggling Chinese developer Evergrande - CNBC Evergrande: Asia stocks mixed as investors weigh China concerns - BBC @PeterSchiff: Many are now worried that real estate representing 20% of the Chinese economy threatens to destabilize its economic model. Yet few are raising similar concerns about consumer spending representing 70% of the U.S. economy representing a destabilizing threat to our economic model! The Biden administration plans to ease travel restrictions starting in November for foreign travelers who are fully vaccinated against COVID-19 in an effort to lessen tensions with Europe and reunite families. Non-citizens visiting the U.S. will still be required to show proof of vaccination and a negative COVID-19 test result. The travel restrictions have been active for over 18-months and cover travel from 33 countries, including members of the EU, China, Iran and South Africa. The announcement aims to add new life to the U.S. tourism industry which suffered a $500 billion loss in travel expenditures in 2020. US extends land border restrictions with Canada, Mexico through Oct. 21 - USA Today White House debates vaccines for air travel - The Hill Easing restrictions will boost U.S. airlines but business travel still unclear - Reuters @MayorToddGloria: The extension of nonessential travel restrictions at the US/Mexico border run contrary to the revised measures for air travel, further highlighting the inequity of these policies. It's time to restart travel across the border and end the harm impacting our region. #ForAllofUs Newly released studies continue to show a desire for more remote work with 26% of HealthEquity survey respondents saying they had no plan to return to onsite work again. 77% of respondents said they did not want to return to working onsite full-time, citing time and commute costs and saying they are more productive and mentally healthier in a remote environment. Another “Return To Work Study” by Medallia found 96% of U.S. employees surveyed preferred to work on a hybrid basis. Why workers might eventually reject hybrid work - BBC Apple Is Working on iPhone Features to Help Detect Depression, Cognitive Decline - The Wall Street Journal @ByronTau: In August, only about 13% of Americans were still teleworking. Even at the pandemic peak, only 35% of Americans were teleworking. The "conversation" about the future of work affects only a very narrow set of upper-income jobs requiring advanced degrees. Vaccine developer Johnson & Johnson said a booster dose of its COVID-19 vaccine administered two months after the first shot is 94% effective and boosted protection against symptomatic illness among late-stage clinical trial participants in the U.S. Data from the trial showed a booster dose given six months after the first shot was increasingly more protective against the coronavirus. The discovery comes after an FDA panel recommended against Pfizer boosters for those 16 and older, but booster shots remain a debate in the public health community. New Study of Covid Booster Shots Fans Debate Over Benefits - The New York Times Fauci: FDA vote against Covid booster shots ‘not the end of the story’ - The Guardian States bracing for confusion about coronavirus booster rollout - The Washington Post COVID-19 Has Now Killed About As Many Americans As The 1918-19 Flu - NPR @angie_rasmussen: J&J recipients have often felt left behind by the dominance of discussion and recommendations about mRNA vaccines, but this is mostly because there’s much less...
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Results from the highly anticipated trial from Pfizer and BioNTech found their COVID-19 vaccine was safe and effective for children aged 5 to 11. The trial used a smaller vaccine dosage of 10 μg instead of the regular 30 μg dose that is used for people 12 and up. News of the study comes as pediatric COVID-19 cases are surging nationwide. Pfizer plans to seek emergency use authorization in the U.S. for children 5 to 11 as soon as possible. CVS Health to hire 25,000 ahead of flu season, COVID-19 boosters - Reuters Cuba vaccinates children as young as 2 in strategy to reopen schools, economy - CNN A New Covid Testing Model Aims to Spare Students From Quarantine - The New York Times @ashishkjha: Good news many parents (including me!!) have been waiting for Pfizer data shows vaccine safe, effective for 5-11 year-olds If the full data bears this out As I've been saying for a while My 9-year will get a shot by Halloween And that'll be a treat! A Food and Drug Administration advisory panel overwhelmingly rejected the proposal to approve Pfizer’s COVID-19 booster shots for the general population on Friday, agreeing only to recommend injections for people ages 65 and older and for those at high risk of severe illness. The FDA cited concerns over a lack of evidence, saying it is too soon to justify booster shots for everyone and that it is more important to get more people vaccinated the first time around. Covid-19 Vaccinations Boost the Global Economy, but May Not Cure It Alone - The Wall Street Journal Vaccine mandate backlash sparks concerns of other health crises - The Hill NIH director believes widespread coronavirus vaccine boosters will be recommended despite FDA opinion - Fox News @DrEricDing: 💡Hopeful—“preliminary data suggesting that mixing different vaccines could offer an even stronger immune boost”. Scientists hope 3 vaccine doses gets us enough protection—hybrid antibodies appear to be more versatile and recognize more #COVID19 variants. Treasury Secretary Janet Yellen called on Congress to raise or suspend the U.S. debt ceiling, saying the government will otherwise run out of money sometime in October. House Speaker Nancy Pelosi issued a "dear colleague" statement calling on Congress to act in a bipartisan manner to avoid a widespread government shutdown, but the GOP said it will not budge on its vow not to help Democrats raise the ceiling before the crucial October deadline. U.S. Default Date Is Estimate Congress Wants, Yellen Can’t Give - Bloomberg Fed to reveal new projections with investors on alert for rate liftoff timing - Reuters After years of being 'squeaky clean,' the Federal Reserve is surrounded by controversy - CNBC @mattyglesias: You need layered mitigation strategies for the debt ceiling: — Republicans should vote to raise it — But it’s also unconstitutional and all bills will be paid whether or not it’s raised — And we should mint some platinum coins to put on Yellen’s to clarify she’s good for it Natural-gas prices surged to nearly double what they were six months ago on Friday, a 17% jump just this month, prompting winter shortage worries. Rock-bottom gas prices have long been a reliable feature of the U.S. economy. Across Europe, sky-high natural gas prices and low stockpiles caused by maintenance issues at energy plants are pushing broad inflation, hurting consumers and threatening pandemic recovery. Oil Companies to Be Sidelined at U.N.’s Climate Conference - The Wall Street Journal Natural gas has only done this twice in the last decade, and it could mean more pain ahead, charts suggest - CNBC Gas price rise: 'UK not seeing risks to supplies right now' - BBC @JohnCornyn: Biden Says He’s Exploring Why Gas Prices Are High @BGOV Here's some ideas: 1) supply and demand 2) inflation 3) labor shortages 4) increased transportation costs especially for imports from OPEC 5) restrictions on domestic production 6) threat of higher taxes and regulations To limit screen time for younger...
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Italy became the first European country to make a COVID-19 certificate mandatory for all workers. Any Italian workers that fail to present a valid certificate will face suspension and could have pay stopped. The document will detail whether a person has been vaccinated, recently recovered from the virus or tested negative. Currently, nearly two-thirds of Italians are vaccinated. Will Biden's mandates work? Macron's vaccine pass gamble may hold some clues - CNN Which countries are enforcing mandatory Covid jabs – and how? - The Guardian @ClareinItaly: Yes, Italy's new Covid green pass extension really does apply to all workplaces and no, your anti-vax colleague won't be left with a great deal of options. Here are all the details about the new rules coming in next month Once used sparingly around the country, religious exemptions are growing in popularity as more COVID-19 vaccine mandates are implemented. An estimated 2,600 Los Angeles Police Department employees are citing religious objections to try to get out of the required vaccination, and thousands of state workers in Washington are seeking similar exemptions. No major denomination opposes the vaccine, even the Christian Science Church whose adherents largely rely on prayer rather than medicine. This pastor will sign a religious exemption for vaccines if you donate to his church - The Washington Post Vaccine Resisters Seek Religious Exemptions. But What Counts as Religious? - The New York Times Transportation costs emerged as another supply-chain hurdle, overwhelming many businesses already confronting higher wages and raw material prices. Some CEOs said they expect elevated freight costs to stretch in 2023. The COVID-19 pandemic has led to port lockdowns and container ships being taken out of service, resulting in an overall reduction capacity. The cost of shipping containers across the ocean is now higher, truck drivers are in short supply and gasoline is more expensive. How the pandemic turned humble shipping containers into the hottest items on the planet - CNN Get Ready for an Expensive Revenge Christmas - Bloomberg @SahilBloom: The chart of the number of container ships stuck at anchor outside the LA and Long Beach ports is insane… It crossed 60 today—a figure that shatters all previous records—and most industry experts say there is no end in sight. Holiday shopping season could get very interesting. Millennials were the first generation to disrupt the traditional ways of working and introduce a more purposeful approach, but now Gen Z is the largest demographic in the workplace. Unlike any cohort before them, Gen Z is a digital native generation whose formative years have been defined by the pandemic. 42% of Gen Z Prioritize Work-Life Balance Over Other Job Perks, Survey Says - GOBankingRates What Students Are Saying About What It’s Like to Be Back in School - The New York Times More than 30% of vaccinated Americans have in some way stopped socializing with friends, family members or acquaintances because they’re unvaccinated against COVID-19. A further 27% said they haven’t “cut ties” but that it “upsets them.” Gen Z respondents were the largest group to be vaccinated but have family members that aren’t. Delta variant vaccinated vs. unvaccinated: This new CDC chart shows how well COVID-19 vaccines work - Fast Company ‘My Parents Wouldn’t Get Vaxxed to Attend My Wedding’ - The Cut You’re Not the Mean Lady at Work - The New York Times "Monitoring Incidence of COVID-19 Cases, Hospitalizations, and Deaths, by Vaccination Status" - Centers for Disease Control and Prevention / Source: CDC CONTENT FACTS Turbine Labs has tracked 18,394 media articles and blogs and 51,908 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Monday, September 20, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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Retail sales posted an unexpected gain in August despite fears stemming from escalating COVID-19 cases. Sales increased 0.7% for the month against a Dow Jones estimate of a decline of 0.8%. Applications for U.S. state unemployment benefits rose last week, led by a jump in Southern states following Hurricane Ida. America’s Grand Reopening, Postponed - The New York Times China’s Economy Weakens on Delta Outbreak and Wary Consumers - Bloomberg @JamesVGrimaldi: Resilience is the word of the day with retail sales report: U.S. retail sales rose 0.7% last month, a sign the economic recovery has staying power despite the Delta variant. State and local governments have shed more than 400,000 jobs since the beginning of 2020, and those jobs have been far slower to return than the private sector positions that rebounded. Despite more Americans’ incomes falling last year, fewer people were living in poverty. The economic toll was balanced by the trillions of dollars in federal aid offered to the millions of people who were laid off. Long-Term Impacts of the COVID-19 K-Shaped Recovery - Investopedia How the U.S. Nailed the Economic Response to Covid-19 - The Wall Street Journal President Joe Biden called a meeting of top business leaders Wednesday to build for a sweeping vaccine mandate that will impact most of America’s workers. The message centered on vaccine efficacy and how the stalled uptake is holding back the economy. Biden invoked commentary by Wall Street firms, which have said vaccinations have a positive impact on jobs and the economy. EEOC Files First Lawsuit Against Employer for Failing to Accommodate Work Request due to COVID-19 - JD Supra @LaurenSHirsch: President Biden is meeting w/ top execs from Microsoft, Disney, Walgreens & others to discuss the federal effort to require employees of large companies to be vaccinated or regularly tested. Alaska’s worsening COVID-19 situation prompted the state’s largest hospital to implement a “crisis standard of care” in an effort to ration resources. The state reported new virus infections that were 13% higher than last week. The delta variant is affecting other states’ care as well – Idaho and Nevada both announced they would limit care amid higher-than-average hospitalization rates. Overfilled ICUs put non-COVID patients' health at risk: "These are people suffering unnecessarily" - CBS News Analysis: Hospital strain to test UK's vaccine-based winter COVID plan - Reuters @AnthonyAdragna: Truly grim and tragic situation in Alaska, where hospital rooms are overflowing with Covid-19 patients. Gov. Gavin Newsom will remain in office after California’s historical recall election, and a closer look at county-level results revealed a strong relationship between the governor’s support of COVID-19 vaccination rates. The data found a clear divide by geography along the two measures – residents in smaller, more rural places were less likely to support Newsom and get vaccinated. California Democrats voted along broader political lines to save Newsom, CNN exit poll shows - CNN Gov. Gavin Newsom beat California recall election effort with COVID-19, vaccine policies - MSNBC Newsom’s Anti-Trump Recall Strategy Offers Republicans a Warning for 2022 - The New York Times @ronlin: California counties with higher COVID-19 vaccination rates were more likely to support Gov. Gavin Newsom "Counties with the lowest vaccination rates were most eager to oust Newsom...inoculation status has became a new indicator" for votes "Covid-19 Pandemic Aid Kept Millions of Americans Out of Poverty in 2020" - The Wall Street Journal / Source: Census Bureau CONTENT FACTS Turbine Labs has tracked 21,823 media articles and blogs and 118,145 social media posts over the last 24 hours. The next Turbine Labs Leadership briefing will be delivered on Friday, September 17, at 9:30AM ET. Questions or feedback? Don't hesitate to reach out to us directly.
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