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+9 +2
Mass layoffs and hiring freezes: Just 9% of tech workers feel secure about their jobs right now
Just months ago, 80% of tech workers were confident enough in the job market to consider switching roles.
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+19 +6
Five countries owe €6 trillion in climate reparations, new study shows
There is now a scientific basis for countries to claim money for climate damage.
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+19 +2
Why American Cities Are Broke - The Growth Ponzi Scheme [ST03]
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+14 +1
Just keep your returns: Stores weigh paying you not to bring back unwanted items
The chaotic mix of record fuel prices and an unending supply chain crisis have retailers considering the unthinkable: Instead of returning your unwanted items, just keep them.
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+20 +2
Monthly car payments have crossed a record $700. What that means
The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.
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+2 +1
Hackers crash internet as 'Russian Davos' adjusts to new reality
Hackers on Friday delayed the start of President Vladimir Putin's speech to Russia's flagship economic forum, shorn of strong Western participation as Russia adjusts to the "new reality" of life under Western sanctions.
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+15 +4
CEOs are enjoying huge paydays while their workers struggle to pay bills
Despite all the buzz about the “Great Resignation” and a renaissance for the working classes in America, a new report finds the gap between executive and worker pay is only widening. The typical low-wage worker’s pay didn’t keep pace with inflation last year at more than a third of the companies reviewed by the Institute for Policy Studies, a progressive think tank. IPS’ survey included the 300 publicly traded companies with the lowest median pay for workers.
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+18 +3
How Davos became the anti-establishment's punching bag
Nearly 2,500 global leaders from business, politics and civil society are expected to convene this week in Switzerland’s luxury Alpine ski resort of Davos. On the agenda will be issues including Covid-19, Russia’s war in Ukraine and the climate crisis.
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+3 +1
A low income has less of an effect on well-being in underdeveloped nations — and religiosity might explain why
Poverty has a weaker impact on well-being in developing countries, and a new study suggests that national religiosity can explain this effect. The findings, published in the Proceedings of the National Academy of Sciences, suggest that religion helps alleviate the mental toll of poverty.
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+18 +2
IMF approves $1.4bn emergency support for Ukraine
The International Monetary Fund has approved $1.4bn in emergency financing for Ukraine to help meet urgent spending needs and mitigate the economic impact of Russia’s military invasion. The global lender said Ukrainian authorities had cancelled an existing standby lending arrangement with the IMF but they would work together to design an appropriate economic programme focused on rehabilitation and growth when conditions permitted.
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+3 +1
Russia's economic reality has changed, Kremlin says
The Kremlin on Monday said Russia's economic reality had changed but saw no reason to doubt the effectiveness and reliability of the central bank, which hiked interest rates to 20% as it sought to shield the economy from unprecedented Western sanctions.
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+11 +1
Disasters can wipe out affordable housing for years unless communities plan ahead – the loss hurts the entire local economy
The most affordable homes face the highest risks from disasters for three key reasons.
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+18 +6
Unions don’t call the shots any more – but we’d all be better off if they did
For those versed in trade union folklore, the battle of Saltley Gate holds a special place. In 1972, workers from Birmingham factories downed tools to support striking miners, blockading a gasworks in the city where there was a huge stockpile of coking coal. Orchestrated by a young Arthur Scargill, the blockade successfully prevented lorries from collecting the coal.
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+12 +3
What happened after these unhoused people got monthly $500 checks? Two-thirds have homes
Just $3,000 over six months was enough to fundamentally reshape people’s lives.
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+14 +4
A huge study of 20 years of global wealth demolishes the myth of 'trickle-down' and shows the rich are taking most of the gains for themselves
The globe's richest people own far more wealth than the bottom half — including Elon Musk, the world's richest man.Picture Alliance/Getty Images
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+27 +6
China has a big inflation problem and it's pushing up prices worldwide
China's inflation headache is getting worse.
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+2 +1
Unilever warns of more price hikes as inflation worsens
Unilever warned inflation was likely to accelerate next year and its prices would have to rise further as consumer goods companies battle to offset surging energy and other costs.
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+15 +4
Baby boomers are snatching houses out of the hands of millennials
Baby boomers and millennials are in a housing war. A Zillow report lays out how boomers are winning, and it's really not even close.
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+4 +1
Nations agree to 15% minimum corporate tax rate
The historic deal is designed to make big corporations pay a fairer share of tax around the world.
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+22 +4
Study: As cities grow in size, the poor 'get nothing at all'
On average, people in larger cities are better off economically. But a new study published in the Royal Society Interface builds on previous research that says, that’s not necessarily true for the individual city-dweller. It turns out, bigger cities also produce more income inequality.
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