Elman owns 18 per cent of the firm with having given his nod to a $3.5 Billion debt-to-equity swap, after being offered a seat on the board. With its glorious past long gone, Noble Group has been limping trying to pull its strings together with countless cost-cutting measures. The final vote on restructuring, however, is scheduled for August 26
Facing a labour crisis, Japanese firms have welcomed the opportunity to open national shores to foreign labour, only condition applied being, they are skilled. Industries with the greatest vacuum of labour are farming, car manufacturing & FMCG. Popular for advocating its regionalism vociferously, the government will allow five-year work permits extendible to an indefinite period, for efficient workers.
Seems like the Volkswagen workers were able to strong-arm the company and avoid a deadly strike. The chips of the bargain include a 5.5 per cent hike which would be followed with a savings fund increase of yet another per cent, which is in addition to indexed food allowance vouchers. The deal was brokered following two weeks of back and forth.
Karl Hansen, part of Tesla’s internal investigation team has a lot to say on the company’s employee oversight practices. In his complaint filed with the U.S SEC, he alleges the company of spying on people apart from negligence to an intel of cartel dealings at its Gigafactory. In an explosive filing, Hansen’s lawyer accused Tesla of violating safety protocols to project inflated production numbers. The company in its reply stated “Some of his claims are … false. Others could not be corroborated.”
Human rights groups fear the search engine may give in to the demands of censorship by the Chinese government to launch its mobile search app. The furtive project named Dragonfly gives Google its much-awaited access to a potential largest user database, provided it fulfils few pre-conditions. Company employees have, however, begun to urge representatives for an equal say in formulating service level agreements with their Chinese counterparts, sensing ambiguity as in the case of Project Maven.
The anomalous conclusion is inferred provided we notice the dissimilarities in worker compensation for the top 100 FTSE firms. The financial year ending 2017, saw the Chiefs raise a toast to a 23% pay hike against a laughable 2.5% for their subordinates. It needs to be noted, the executive pay appears bloated due to gargantuan incentives handed by two firms namely Persimmon & Melrose Industries respectively. Yet, even marginal expectations to close the salary gap now appear a dystopian reality.
As many primary school teachers stepped on the road to express their discontent with the Labour Government’s fiscal policies. NZEI, the teachers’ union argues that worker wages have failed to match the growth in housing prices. The roundtable battle has to be settled between the central-left Government, pleading for relaxation on a 16% demanded hike by the teachers. Prime Minister Jacinda Ardern promised a workable solution suggesting the same would demand prolonged discussions.
Air France is set for serious commotion in the next few months as the carrier seeks its next CEO, letting go of Jean-Marc Janaillac who failed to placate the unions. The bookies have placed their bets on the current Air Canada CEO Benjamin Smith. The point of contention, however, is his American ethnicity and his rumoured salary ($3.74 million). Industry analysts, however, do favour his crisis management pedigree having bagged a 10-year settlement with Air Canada flying crew in 2015.
Workers in Escondida, Chile, the world’s largest copper mine, set an example in workplace negotiations for workers in the mining industry across the world when they stood their ground and got employer BHP to extend workplace negotiations while calling off a planned strike in the nick of time.
The biggest concerns in negotiations seem to be the signing bonus and pay increase for every worker in the mine, and has raised national concerns, going so far as to warrant the involvement of Chilean President Sebastian Pinera.
David Wells, the man at the helm of finances in the world’s fastest growing independent media streaming service, will step down from his role as the CFO of the media giant. Netflix, which has seen scorching growth under the current leadership, in which Wells played a crucial role. Wells has maintained that he will remain at Netflix until he transfers his duties to a suitable successor, while the company said that it is actively looking for candidates, both internal and external, for the role. He would like to be a philanthropist in the next stage of his life, Wells said.
Investment Banking has always been considered a man’s game. A cliché that has held sway over multiple generations in most countries across the world. But an unlikely candidate has finally broken the mold. Malaysia, with a majority muslim population, has more number of women chiefs in its national investment banks than men, it was recently reported. Besides, these also include women heads in major financial corporations operating in the country including Credit Suisse and Rothschild. This is the biggest breakthrough in an industry that has a staggering 95% male population in top positions worldwide.
David Marcus, who’s predilection with the payment technology has engraved his name as a successful entrepreneur, PayPal President, & a high-ranking official of the Facebook’s Messenger Team, has left his seat on the Coinbase board. His decision to avoid “conflicting” priorities has got blockchain aficionados to speculate on Facebook’s entry into the cryptocurrency space. If true, it could prove devastating for still fledgling startups in the industry.
For women, portfolio management is best practiced anywhere but on Wall Street. This as per a Morningstar Inc. report. Firms that have employed the maximum women as fund managers are headquartered in San Francisco, San Mateo & Boston. With proven studies showing the correlation between women participation and asset management profitability, Wall Street might need to bull-doze its lackluster recruitment mechanisms which only worsen the non-existence of mentoring avenues.
The investment bank will be dogged in its attempt to lure talented, young professionals bearing the cost of training, even if that shapes up to become a $10.8 billion tech budget. Standing in face of a war for talent against Silicon Valley, the financial giant will lower its cut-off age for entry-level recruits and be open to offering challenging hands-on projects. J.P hires 1,000 (approx.) first time engineers annually.
Christopher Rollins, an ex-high profile executive of Goldman, is blowing the whistle on the company’s alleged shady dealings with the businessman Jim Esposito. The case involves the company dealing a blind-hand of $2 Billion under the noses of its own AML units. The case, lodged in the US District Court of New York, would be contested ‘heavily’ by Goldman.
An appeasing stance by the Confederations of British Industry (CBI) to sound more nationalist reflects the populist Brexit opinion of voters. The director-general of CBI, Josh Hardie, affirmed that a controlled immigrant inflow would be best for the UK. His emphasis lay on prioritizing the British ilk for jobs over European in-comers. The present day workforce distribution is heavily weighed against the natives in many sectors, to keep it politely.
The country’s last quarter job openings hit a milestone of 6.7 million, a 17-year high, with the maximum demand for staffing outpouring from the transportation sector. The consumers have an increased capacity to spend but it seems the search for better pay is making employees jump ship between sectors. Spring saw 750,000 more vacancies than last year with employers now focusing on staffing ‘hustling’ recruiters to meet front-line demands in manufacturing & warehousing.
Hearing what the Brazilian lawyers had to say about GE’s Chief Co. Daurio Speranzini Jr., you might actually start smelling something fishy. GE hired Speranzini on being fired from Philips on account of blacking medical supplies, promoted him through the ranks overtime and is now washing their hands off the act when questioned over moral grounds. Whereas the company has promised cooperation, the question arises – why pick someone with unscrupulous affiliations when there’s no dearth of top talent ready to serve!
Marred by the political climate of the country due to controversial executive representation, the company has decided to expand on its business offerings. Sanctioning heavy investments in automation and cellular disruptions, the tech giant would create 40,000 new jobs through 2020. If not for the obvious brand positioning objectives, the company was expected to step-up its game for entry into the aforementioned spaces, sooner than later.
Her legacy shall involve a list of accomplishments that established PepsiCo as a household name in the FMCG market. Following Indra’s departure, the total women CEOs in Fortune500 companies snow stands at 23 (5%). Ramon Laguarta, Nooyi’s successor will take the wheel as PepsiCo seeks new direction considering shifting consumer preferences. Lagurarta was voted president last year thanks to his impeccable track record in leading global operations
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