Money

New York Times’ unions want to block return-to-work mandates

Published

2 years ago

August 30, 2023

The New York Times’ unions are attempting to halt the implementation of a stringent policy that would monitor employees’ compliance with the return-to-office mandate.

The New York Times Guild, representing the majority of newsroom workers, and the Times Tech Guild, consisting of over 600 Times tech employees, reportedly sent cease-and-desist letters to management last week, as per Axios’ report on Tuesday.

The publication had announced its intention to increase the requirement from three days per week to an additional fourth day, effective September 3, 2024.

Under the new policy, newsroom leaders would periodically monitor badge swipe data to analyze attendance trends and potentially flag individuals with notably low attendance, according to Semafor.

A representative from The Times stated, “We believe that allowing people the flexibility to work together in the office at times and remotely at other times benefits everyone by ensuring that we maintain the strong, collaborative environment that has come to define our culture and drive our success.”

Hybrid employees

The spokesperson did not provide further details on badge monitoring but mentioned that The Times’ policy stipulates that hybrid employees should be in the office two to three days a week, with each department head determining the exact number of days.

At the time of the report, The Times’ unions had not responded to requests for comment.

The New York Times Guild argued that monitoring badge swipes to surveil office attendance violates their new contract, which was finalized in May after more than two years of contentious negotiations.

In response, a Times representative pointed out that the contract does acknowledge the company’s right to enforce its return-to-office policies. The representative also noted that the changes made due to the pandemic were always intended to be temporary.

A contract has not yet been agreed upon with the tech workers’ union, which was ratified in 2022.

The Times Tech Guild contended that monitoring badge swipes “violates their status quo, or the terms and conditions set at the time that were union ratified in 2022.”

The status quo remains in place until the Tech Guild negotiates a contract with management, but a Times representative informed Axios that the publication’s return-to-office policies were introduced before the Tech Guild was officially recognized.

Money

Markets ignore Israeli-Iranian conflict but risks remain high

Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

Published

2 days ago

June 17, 2025

Ahron Young

Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

In Short:
Market analysts warn that global investors are underestimating the conflict between Israel and Iran, despite resilient stock market gains. Analysts highlight the potential for prolonged conflict and significant impacts on energy markets, cautioning against complacency.

Global investors are currently underestimating the potential impact of the ongoing conflict between Israel and Iran, according to market analysts.

Despite four days of escalating fighting, which has resulted in significant casualties, global stock markets have shown resilience. Stocks in Europe, Asia-Pacific, and the U.S. have all seen gains, indicating a disconnect between market performance and geopolitical developments.

Investment director Russ Mould highlighted the risk of a broader conflict affecting energy markets. He noted that the situation is complex and the ramifications could extend beyond financial concerns.

Heightened risks

Strategist David Roche suggested the conflict may last longer than typical Israeli responses, posing heightened risks. Torbjorn Soltvedt from Verisk Maplecroft expressed that the current situation resembles an open-ended war, with severe implications for the region and global energy markets.

Energy prices have already reacted to the unrest, with crude oil experiencing significant price fluctuations. Analysts caution that a period of calm might lead markets to mistakenly believe in lasting peace, potentially creating buying opportunities in energy assets.

Conversely, some analysts, like Deutsche Bank’s Jim Reid, maintain a more cautious outlook, noting that retaliatory actions between Iran and Israel have yet to escalate dramatically. He indicated that historical patterns suggest a typical market recovery from such shocks.

Money

Australia’s stalled economy forces businesses to innovate or die

Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.

Published

1 week ago

June 11, 2025

Ahron Young

Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.

Australia’s economy is slowing fast, with GDP growth at just 0.2% and output per person in decline. Experts are now predicting steep interest rate cuts to avoid recession.

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Money

World Bank predicts U.S. growth cut by tariffs

World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

Published

1 week ago

June 11, 2025

Ahron Young

World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

In Short:
The World Bank has downgraded U.S. growth projections to 1.4% for 2025 due to President Trump’s tariff policies, warning that increased tariffs could worsen the global economic slowdown. The report highlights a decline in growth for multiple economies, with a particular emphasis on the negative impact on living standards and the need for negotiated trade barriers.

The World Bank has downgraded its growth projections for the U.S. economy, forecasting an increase of just 1.4% in 2025, down from the previous year’s 2.8%. This reduction is attributed to President Trump’s tariff policies, which are anticipated to hamper both U.S. and global growth.

The World Bank’s latest report highlights an expected slowdown in multiple economies, including the eurozone, Japan, and India. Mexico is projected to experience the most significant impact, with growth dropping to 0.2% from 1.5%.

Exacerbate the slowdown

Amid these forecasts, the World Bank warned that a further rise in tariffs could exacerbate the slowdown. If tariffs were raised by an additional 10 percentage points, global growth could plummet to 1.8% this year and 2% in 2026. Such an escalation would lead to reduced trade, declining confidence, and increased market turmoil.

Indermit Gill, the World Bank’s chief economist, noted that if a course correction is not made, the negative effects on living standards could be severe. The Organisation for Economic Cooperation and Development has also voiced concerns about the implications of tariffs, predicting a U.S. growth rate of 1.6% with inflation approaching 4%.