TOP NEWS
Stocks Bounce Back
After logging the largest drops since the start of the year earlier this week, gains across global markets this morning were due to unexpectedly strong economic indicators: Chinese export numbers showed a 3.3% gain in July from a year earlier, and French economic data showed the country was growing. Amid a stormy economic picture, one analyst said the figures were "arguably as upbeat as might have been hoped." WSJ
Rate Cuts Abound
As stocks markets show signs of recovery, there are plenty of indicators of the pain the U.S.-China trade war is expected to inflict globally—now in the form of rate cuts by central banks in India, New Zealand and Thailand. A cut by Australia's central bank is expected next. Those are all part of a move an analyst called "defensive action" against slumping growth and worries the trade war could morph into an all-out currency war. New York Times
Another Blow for Huawei
The Trump administration has pushed its penalties against Huawei one step further, with a congressional measure to stop any U.S. government agency from buying Huawei equipment. The measure also covers several other companies: ZTE, Hikvision, Dahua, and Hytera. Huawei is already on a trade-related blacklist, though some restrictions against the company had been pulled back in June. FT
Ride-Hailing Earnings
Uber is due to report its quarterly earnings after market close on Thursday, after Lyft, its main rival, reported on Wednesday. Lyft registered rising losses, but also strengthening revenue (by 72% from the same period last year), and an upbeat forecast for the rest of the year—enough to make its shares jump initially. Despite the earnings loss, the CEO said it was a "milestone quarter on our path to profitability." Fortune
Rethinking Recognition
Most people want to be recognized for their good work, but it may not be in the ways leaders think. The Practical Magic of Thank You, a new study by Deloitte, outlines how employees want to be recognized and for what.
Read more
AROUND THE WATER COOLER
Koch's Safety Crisis
For years, the accident and death rate at Georgia-Pacific, a pulp and paper company owned by Koch Industries, kept rising and rising—largely without interruption. A collaboration between Fortune and ProPublica investigates what went wrong. Fortune
Rosneft in Venezuela
Venezuela needs gasoline, and it has only one option left: Russian state-owned Rosneft. The company has become the last supplier to the country under President Nicholás Maduro, and that has given Russia leverage over the country as U.S. sanctions deepen. Rosneft is already under some U.S. sanctions after Russia's annexation of Crimea, but still has enough room to continue trading. FT
Ireland's Housing Crisis
Ireland may have recovered from the financial crisis, partly by drawing multinational companies—especially tech companies—to the Emerald Isle. But now another property crisis is looming, as Dublin has become one of the top 10 most expensive places in the world to rent, ahead of even Tokyo and Singapore. That makes renting—never mind stable homeownership—precarious for many, especially young people. New York Times
Was E-Mail a Mistake?
The expansion of big offices gave rise to the need for "asynchronous messaging"—messaging where the receivers are not all participating at the same time—and so, e-mail was born. But in the earliest days, it was not a given that this was actually good for work or productivity. Now, researchers say e-mail can be useful—for delivering this newsletter, for example—but for collaboration and reaching conclusions, it's largely a bust. New Yorker
This edition of CEO Daily was edited by Katherine Dunn. Find previous editions here, and sign up for other Fortune newsletters here.
No comments:
Post a Comment