- A + A SINGAPORE/TOKYO (June 24): Global stocks and bonds headed for their first weekly gain in a month on Friday (June 24), with growth concerns tempered by hopes that sliding commodity prices can help brake runaway inflation. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.4% on Friday, helped by short sellers bailing out of Alibaba — which rose nearly 7% — amid hints that China's technology crackdown is abating. Japan's Nikkei rose 1.2% for a 2% weekly gain, while S&P 500 futures extended overnight gains by 0.76%. EuroSTOXX 50 futures rose 1% and FTSE futures rose 0.6%. The week has been marked by steep declines for commodities on worries that the world economy is looking shaky and that interest rate hikes will hurt growth — which in turn is also prompting traders to pare back some bets on the size of rate hikes. Copper, a bellwether of economic output with its wide range of industrial and construction uses, is heading for its steepest … [Read more...] about Bruised stocks find support as growth fears dent commodities
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Most of the knowledge and skills you need to do well at work are things that you were not taught in school—even if you have a college degree or advanced degrees. For one thing, each organization has its own processes and procedures, so the knowledge and skills you got during your education will need to be adapted. For another, the pace of change in business is so fast that much of what you learned is probably outdated less than a decade after the last time you set foot in a classroom. advertisement advertisement So, when you’re hiring someone who does not yet have a lot of experience in your industry, knowing what they studied (and even how well they did in school) isn’t going to tell you much about whether they will grow into their job. Instead, there are a few other things you need to be looking for in new hires: Ownership of mistakes and resilience One reason why good grades in school don’t necessarily predict success at work is that getting good … [Read more...] about How to tell if an inexperienced job candidate has growth potential
Back in January, Chobani founder Hamdi Ulukaya made a show of his obsession with product quality. "It has to be the same all the way around," he told a Bloomberg Businessweek reporter, running his finger around the circle design on the foil lid of one of his yogurt containers. When he peeled back the foil, a little dollop of yogurt was stuck to the top. "It shouldn't be like that," he said. He threw it in the trash, uneaten. As the company has grown at breakneck speed, Ulukaya's standards haven't kept pace. On September 5, Chobani announced that it was voluntarily recalling certain yogurts after customers complained of "swelling and bloating" containers--and the company found mold contamination in its Idaho facility. The company said less than 5 percent of production was affected. Still, for a company that now ships over 1.5 million cases a week, that's a lot of yogurt to throw out. Chobani should remain "overly cautious," says Aimee Drolet Rossi, a professor at UCLA's … [Read more...] about Should $1 Billion Chobani Slow Down?
The Office of the National Economic and Social Development Council expects the Thai economy to grow by 3% next year, even if there is more tension between Ukraine and Russia. The council’s permanent secretary, Danucha Pitchayanan, says by coordinating with every country Thailand can grow despite the current choppy economical waters the world has to navigate. The 51 year old yesterday joined a special discourse, Stronger Thailand, held by a Thai-language newspaper Matichon. During the event, Danucha talked about the economic situation in Thailand, acknowledging the country has suffered from a complicated economic crisis since the pandemic breakout 2 years ago. He added that the situation outside of Thailand is also more complicated because of the war between Ukraine and Russia. But Dancha says Thailand can come through this difficult period if takes the right position and is willing to coordinate with every country on the international stage. The council’s permanent … [Read more...] about Thailand expects economy to grow 3% next year
“The time is appropriate to go for a further increase in the policy rate to effectively deal with inflation and inflation expectations,” RBI governor Shakitkanta Das, who heads the six-member panel, said. "As our policy in recent months has been unambiguously focussed on withdrawal of accommodation, both in terms of liquidity and rates, the change in the wording of stance should be seen as a continuation and fine-tuning of our recent approach," Das added. "The withdrawal of accommodation, as I see it, would be non-disruptive to the process of recovery and would strengthen our ongoing efforts to combat inflation and anchor inflation expectations." The MPC raised the repo rate by 50 basis points on June 8 , almost a month after it had gone for 40 basis point hike in an off-cycle policy meeting to combat rising price pressure. One basis point is one-hundredth of a percentage point. Retail inflation came in at 7.04 percent in May , easing from a near-eight-year high of 7.79 … [Read more...] about RBI committed to bringing inflation within target, MPC meeting minutes show
RBI Governor Shaktikanta Das (File image) The Reserve Bank of India (RBI) is “well on track” to bringing down inflation and inflation expectations in the economy against the backdrop of supply side disruptions, the governor said. “Until December, CPI (Consumer Price Index) inflation is expected to remain higher than the upper tolerance level; thereafter it is expected to go below 6 percent as per our current projections,” Shaktikanta Das said in an interview to The Times of India. "There will be inflationary pressures, and only in the fourth quarter, we have projected it to go below 6 percent.” The governor acknowledged that high inflation hurts people the most, especially the lower segment of society which is hit the hardest. Hence, it is desirable that the country has a framework for inflation and that monetary policy operates within that, Das said. The RBI’s analysis shows that when consumer inflation exceeds 6 percent, it is negative for growth, he said, adding … [Read more...] about RBI well on track to bringing down inflation, says Governor Shaktikanta Das
Share to Twitter Share to Linkedin Looking at the Disability Economy in its current incarnation, we can see it as a natural extension of the social and political advocacy movements for Disability Civil Rights that were critical in pushing for greater inclusion and active participation. Yet, it is important to understand that the Disability Economy both in the abstract and practical forms is fluid, and we must be able to ascertain not only what this means, but how to think about envisioning a future reality where disability is central to improving the human experience. Presently, as we further examine this new economic reality, we are finding key themes that are making their way to the forefront of the conversation. Ideas from accessibility, diversity, and inclusion to ESG investing are the basis for the present thinking of how business is redefining a new paradigm of disability. The maxim “Nothing About Us Without Us” is evolving into something beyond its … [Read more...] about Mindset Matters: Transforming The Philosophy Of The Disability Economy For Present And Future (Part IV)
Share to Twitter Share to Linkedin The growing costs of higher education have made it considerably more difficult for kids to “pay their way” through school. After all, College Board figures peg the annual cost of tuition and fees at four-year, public in-state schools at $10,230 for the 2018-2019 school year, and the yearly price tag balloons to $21,370 when you add in room and board. That means we’re at nearly six figures for four years at a public, four-year institution, and of course prices go up considerably from there for private institutions and elite universities. With these depressing figures in mind, it’s no wonder more and more parents are looking for ways to help and stumbling upon the benefits of 529 plans. With a 529 plan, parents can contribute money that can grow tax-free until their children are ready to use the account funds for higher education. And when money is withdrawn to pay for qualified higher education expenses such as tuition, … [Read more...] about Should You Superfund Your Child’s 529 Plan?
(Representative image: Reuters) A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention to the severe economic turbulence looming over the coming months as the full impact of Russia's war sinks in and the threat of recession rises. The EU's 27 leaders gathered in Brussels to grapple with surging inflation, energy shocks, dwindling business and consumer confidence, and growing budget pressures. The leaders also will have to contend with higher borrowing costs as the European Central Bank prepares to raise interest rates for the first time in 11 years to counter runaway price increases. ECB President, Christine Lagarde, who plans to raise rates next month and again in September, joined the EU summit to discuss the darkening economic outlook. Swedish Prime Minister Magdalena Andersson said, "We are in a difficult situation, its very important that we have this discussion." The EU has spent the previous decade battling … [Read more...] about EU leaders tackle inflation, energy shocks from Russia’s war
- A + A (June 24): China asked foreign business chambers in Hong Kong how to revive the isolated financial hub’s economy in unprecedented listening sessions weeks before new leader John Lee takes office, according to multiple people familiar with the matter. The Liaison Office, Beijing’s main body overseeing Hong Kong, sent invitations to commerce heads across the city in early June to seek their opinions on the challenges of operating in Hong Kong and mainland China, the people said. They said the chambers responded with one overriding message: End quarantine altogether as soon as possible. The people, who represent different chambers, said the meetings marked a major shift from previous exchanges in which officials spoke through translators, with the Chinese side appearing to show genuine interest in understanding the pain points of foreign businesses. The mainland officials present mainly listened while other staff took notes, the people said, making it unclear … [Read more...] about China said to have asked foreign business leaders how to revive HK in rare move