Companies scraping for staff ahead of holidays
Companies that typically hire thousands of seasonal workers are heading into the holidays during one of the tightest job markets in decades, making it unlikely they’ll find all the workers they need. For shoppers, it might mean a less than jolly holiday shopping experience, with bare store shelves and online orders that take longer than usual to fill.
Employers are so desperate to find holiday workers they’re raising pay above $15 an hour, offering four-figure sign-on bonuses and promising to pay their schooling. If they can’t find the workers they need, employers will likely rely on existing staff to work more overtime, which can become costly for businesses and lead to burnout for workers.
IMF board confident about leader despite claims
The International Monetary Fund has expressed “full confidence” in its managing director. The statement came in response to allegations that while Kristalina Georgieva was a World Bank official, she and others pressured staffers to change business rankings in an effort to placate China.
The IMF’s 24-member executive board says its review did not conclusively demonstrate that Georgieva played an improper role. But it says a probe into possible misconduct by World Bank staff is continuing. Georgieva has denied any wrongdoing in response to an investigative report by the WilmerHale law firm.
Stocks edge lower ahead of company earnings
Stocks ended an up-and-down day mostly lower on Wall Street as traders wait for more data on inflation and corporate earnings this week. The S&P 500 fell 0.2% Tuesday and the Dow Jones Industrial Average fell 0.3%.
The Nasdaq slipped 0.1%, but small-company stocks ended higher. A mix of retailers and other companies that rely on direct consumer spending gained ground, but those gains were offset by falling technology and communications stocks. U.S. crude oil prices held steady at just above $80 a barrel. The yield on the 10-year Treasury note fell to 1.57%.
Hasbro CEO, Chairman Brian Goldner dies at 58
Toy and entertainment company Hasbro has announced that its CEO and chairman Brian D. Goldner has died. He was 58. The announcement Tuesday comes two days after the Pawtucket, Rhode Island, company said Goldner was taking a medical leave of absence from his CEO role, effective immediately.
It was also announce at that time that Rich Stoddart, most recently the lead independent director of Hasbro’s board, has been appointed as interim CEO. The company did not give a cause of death, but Goldner disclosed in August 2020 that he had been undergoing treatment for cancer since 2014. Goldner served as the CEO of Hasbro Inc. since 2008, and served as the chairman since May 2015.
Slain reporter’s father takes on Facebook
The family of a slain journalist is asking the Federal Trade Commission to take action against Facebook for failing to remove online footage of her shooting death. Andy Parker says the company is violating its own terms of service in hosting videos on Facebook and its sibling service Instagram that glorify violence.
His daughter, TV news reporter Alison Parker, and cameraman Adam Ward, were killed by a former co-worker while reporting for Roanoke, Virginia’s WDBJ-TV in August 2015. A complaint filed Tuesday with the FTC says Facebook is engaging in deceptive trade practices by violating its own terms of service and misrepresenting the safety of the platform.