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The world watched in shock as Credit Suisse, one of the most established global banking and financial services institutions, collapsed and was eventually acquired by UBS. I believe a significant factor in Credit Suisse’s downfall was its rigid stance on forcing staff to return to the office. This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce’s needs and preferences. The Iron Fist: Credit Suisse’s return to office policy In stark contrast to the growing trend of many companies embracing a flexible hybrid work approach, Credit Suisse took a more traditional approach, mandating that staff return to the office three days a week. According to one banker there, “they’re removing our flexibility, and it doesn’t feel great.” In May 2022, the bank’s leadership originally supported flexibility and hybrid work as evidenced by then-CEO Thomas Gottstein professing that a return to office was “not … [Read more...] about POV: How work arrangements played a part in the collapse of Credit Suisse and SVB

One of my favorite lines in a song comes from—wait for it—Katy Perry’s Roar : “I stood for nothing, so I fell for everything,” which is a cue for my youngest daughter to sprint to her costume pile, and the rest of my family to start dancing like crazy around our house. Anytime I am in a situation where I feel like keeping my hand down instead of raising it or swallowing a comment because I felt like my voice wasn’t the most important one in the room, I remember that line. If you don’t stand up for yourself, you are allowing someone else to choose your path. It’s only when you find your voice and stand your ground that you realize you always had the ability to do it, you just had to stand up for yourself. As often happens in my life, I learned this lesson the hard way, as a charity auctioneer. Tell me if this sounds familiar. You walk into a meeting filled with people of all ages and genders. This scenario doesn’t have to be in an office, it could be a classroom, a … [Read more...] about The mindset shift you need in order to stop your inner voice from sabotaging you

As children, most of us were raised to not talk to strangers. The rule is meant to keep us safe, but carrying the idea into adulthood can cause us to miss out on enriching conversations. A new study published in the Psychological and Cognitive Sciences journal reveals that people actually enjoy talking to strangers more than they expect and the exchange can provide benefits. “We already know from previous research that people think they’ll enjoy spending their commute in silence, but it turns out that talking to a fellow passenger is more pleasant,” says Stav Atir, assistant professor of management at the Wisconsin School of Business at the University of Wisconsin-Madison and lead author of the study. “People underestimate the informational value of conversations. Yet, it’s an asset we are underutilizing.” Atir teamed up with University of Chicago’s Booth School of Business colleagues Nicholas Epley, who is a professor of behavioral science, and graduate student … [Read more...] about How (and why) you should get better at talking to strangers

A monk, a composer, and an industrial designer walk into a bar. No, I’m not making a joke. I’m simply imagining a hypothetical scenario where the cofounders of Headspace, Pandora, and Airbnb decide to meet up for drinks. You may think these figures represent a lonely cohort within tech entrepreneurship. We’re often confronted with the tired (and, as the data shows, largely inaccurate) stereotype of the algorithm-crunching, code-wrangling, Patagonia-wearing startup founder. These characters —who undeniably exist, but are more marginal than perhaps realized—effortlessly straddle the worlds of engineering and business. They’re the full package. Admittedly, these characters also tend to be the most visible. Elon Musk, Bill Gates, Mark Zuckerberg, and Mark Andreessen all have storied engineering careers—and often complex personal and professional lives that inevitably work their way into popular culture. But when we examine the data, we see a different picture. Rather than … [Read more...] about POV: Tomorrow’s founders can’t code—and that’s OK

TAIPEI  -Taiwan’s central bank raised its policy rate on Thursday in a surprise move reflecting concerns about inflation despite recent market turmoil caused by U.S. and European bank failures, which could play into further rate decisions this year. The central bank, in a unanimous decision, raised the benchmark discount rate by 12.5 basis points (bps) to 1.875 percent – the fifth hike since it began the current round of tightening in March last year. Governor Yang Chin-long told a news conference after the meeting that the rate hike was mainly because of inflation concerns and that their monetary policy goal was to maintain the stability of domestic prices. Taiwan’s rate hikes are mild and gradual, and while this move was not what the market expected, the central bank cannot be called hawkish, he added. Asked if this would be the last rate rise this year, Yang said: “The uncertainty is very big, particularly the confidence and contagion effect on the public from the U.S. … [Read more...] about Taiwan central bank unexpectedly raises rates on inflation concerns

Senator Grace Poe MANILA, Philippines — The executive order from President Ferdinand “Bongbong” Marcos Jr. on the creation of Water Resource Management Office (WRMO) is a “timely intervention” that will boost action to address the rising water stress in the country, said Senator Grace Poe. Marcos earlier said that his directive for the establishment of WRMO had already been signed and would soon be released for implementation. Poe, chair of the upper chamber’s panel on public services, welcomed the move on Thursday as she noted that bills seeking a more integrated water policy in the country are still being deliberated upon in Congress. “This is a timely intervention from the executive branch which will hopefully alleviate the creeping water crisis in the country,” she said in a statement. The legislator lamented the irony of the Philippines being plagued by a water crisis despite being an archipelago – all because of “fragmented resource management.” “We expect that this … [Read more...] about Poe: Marcos order creating water management office a ‘timely intervention’

COMPOSITE IMAGE: DANIELLA MARIE AGACER (INQ STOCK PHOTOS) MANILA, Philippines—A recent Supreme Court (SC) decision strengthened a 2004 law, which seeks to address the prevalence of violence against women and their children (VAWC) by their intimate partners. Looking back, no less than former presidents Rodrigo Duterte and Joseph Estrada had flaunted their philandering ways. Sometimes, they even appear to be trivializing what they’re doing, making it less complex than it really is. But as Psych Central said, “infidelity can have lasting impacts on partners and children the couple may have,” stressing that “grief, brain changes, behaviors down the road, and mental health conditions such as anxiety, chronic stress, and depression can result.” Now, almost 20 years since Republic Act (RA) No. 9262, or the Anti-Violence Against Women and their Children Act, was enacted into law, the SC held that marital infidelity is one of the forms of psychological violence, which can be penalized … [Read more...] about Violence vs women, kids: Why SC tagged marital infidelity as a crime

INQUIRER.net FILE PHOTO TAGUM CITY — A former top executive of the National Electrification Administration (NEA) has urged member-consumers of the Northern Davao Electric Cooperative (Nordeco) to continue raising their voice against the planned entry of the Aboitiz-owned Davao Light and Power Company (DLPC) into its franchise area or else they would fall into the supposed ‘profit motive’ of the firm. Edgrado Masongsong, secretary general of the National Center of Electric Consumers Cooperative (NCECCO), warned Nordeco member consumers that if they allow DLPC to take over several areas of its franchise, the members would turn into “mere rental payers” of the power distribution company. Unlike private power companies, which are allowed to raise power rates in the era of deregulation, power coops still continue to consult with their members and even report to them the cooperative’s financial status every end of the year. Masongsong, a former NEA administrator, cited their … [Read more...] about Ex-NEA exec warns vs ‘profit motive’ of Aboitiz firm in taking over Davao electric coop franchise

INQUIRER FILE PHOTO MANILA, Philippines — The police’s efforts to strengthen its anti-criminality campaign and its series of simultaneous manhunt and buy-bust operations led to arresting eight wanted persons and 16 drug suspects in Quezon City. The Quezon City Police District (QCPD) reported on Thursday that 24 individuals were collared by personnel from various police stations. The police arrested all eight wanted persons in multiple areas on March 22, while the 16 drug suspects were collared in different locations recently. Wanted persons Among the wanted persons was Bobby Ortega, who was arrested in Barangay Bahay Toro for acts of lasciviousness. The personnel of Masambong Police Station identified Ortega. On the other hand, Janella Dela Cruz and France Talino were apprehended for resistance and disobedience to persons in authority. The personnel of Makati City Jail Female Dormitory and Talipapa Police Station, respectively, identified them. According to QCPD, the … [Read more...] about 8 wanted persons, 16 drug suspects nabbed in Quezon City – police

The Bantay Dagat (Sea Patrol) reported on Thursday, March 23, 2023, to the Calapan Fishery Management Office (FMO) sighting of oil slick in the Harka Piloto sanctuary in Calapan City, Oriental Mindoro. Photo courtesy of Bantay Dagat thru FMO CITY OF CALAPAN — The oil slick from the sunken MT Princess Empress reached on Thursday afternoon the Harka Piloto fish sanctuary in Barangay Lazareto in this city, according to reports received by the Calapan Fishery and Management Office (FMO). Photos of the oil slick taken by Bantay Dagat (sea patrol) were given to FMO when it was seen around 1 p.m. Harka Piloto is along the Verde Island Passage, where the world’s most critical marine biodiversity center is found, said Marius Panahon, aquaculturist at Calapan FMO, in an interview. As a marine-protected area, the Harka Piloto Fish Sanctuary is being protected actively by the community and the local government. A cleanup was immediately launched to remove the oil from its waters and … [Read more...] about Oil slick from sunken vessel reaches fish sanctuary in Calapan City