3 economists who study poverty win Nobel Prize
Two researchers from the Massachusetts Institute of Technology and a third from Harvard University have won the 2019 Nobel Prize in economics for groundbreaking research into what works and what doesn’t in the fight to reduce global poverty.
The $918,000 cash award went to MIT’s Abhijit Banerjee and Esther Duflo and Harvard’s Michael Kremer. The 46-year-old Duflo is the youngest person ever to win the prize and only the second woman, after Elinor Ostrom in 2009.
‘US-China truce leaves big issues for later
President Donald Trump has heralded a breakthrough in U.S.-China trade talks, and markets rallied in relief over a de-escalation in tensions between the world’s two biggest economies.
But closer inspection suggests there isn’t much substance, at least not yet, to the temporary truce Trump announced Friday at the White House after the U.S. and China wrapped up their 13th round of trade talks.
Experts: Effectiveness of power shutoffs unknown
Millions of Californians lost electricity last week in an unprecedented effort by utilities to prevent their equipment from starting another devastating wildfire.
It was the fifth time Pacific Gas & Electric has preemptively cut the power but by far the largest in order to stave off fires. Experts said it’s difficult to know what might have happened had the power stayed on, or if the utility’s proactive shutoffs are helping California experience a mild wildfire season.
Uber lays off employees from several teams
Uber is laying off 350 employees from its food delivery, autonomous vehicles, safety, insurance and other teams.
The move is the latest in a string of staff reductions at the ride-hailing giant since its ill-fated initial public offering.
Warren fights Facebook, targets Zuckerberg with ad
Democratic presidential candidate Elizabeth Warren has escalated her tiff with Facebook by running an ad — on Facebook — taking aim at CEO Mark Zuckerberg.
It’s the latest example of growing resentment of Big Tech by Republicans and Democrats alike.
Bosses must step in if politics disrupts workplace
With the presidential election a little over a year away, business owners will likely start seeing staffers spending more time discussing politics. That can be a problem if the chats cut into productivity.
Other bosses find that passions can run high when staffers disagree about candidates and where they stand on issues. But owners have the right to tell staffers that political discussions are banned during work hours — there’s no right to freedom of speech in a private workplace.
Pomp in UK, Brexit talks progress as deadline looms
Britain and the European Union said Brexit talks are making progress but not yet enough to ensure a deal by the end of the month. As the talks were taking place in Brussels, the U.K. government tried to look beyond the country’s stalled EU exit with a pomp-filled policy speech read to Parliament by the queen.
Both Ireland and Spain said the Brexit negotiations could well spill beyond this week and go right down to the wire at the end of the month.