Executive Leadership Briefing

The Congressional Budget Office declared on Thursday that President Joe Biden’s social spending bill would heighten the budget deficit by $160 billion over the next ten years if signed into law. Despite the announcement, and a filibuster from House Minority Leader Kevin McCarthy that delayed the vote Thursday evening, House Democrats are expected to approve the estimated $2 trillion bill Friday morning.

'Crazy' or 'much ado about nothing'? How Joe Biden's Build Back Better plan could impact inflation. - USA Today

CBO score on Biden spending bill would be 'pretty hard' to ignore, former director says - FOX Business

@paulkrugman: Seeing some news stories leading with "CBO says BBB will raise deficit" then acknowledging that it's bc CBO is probably underestimating revenue gains from a stronger IRS. Which is true but kind of misses the bigger point: $160 billion is tiny

Apple’s return to office date for employees was delayed to February 1 of next year with a plan to initiate a hybrid work model, according to a memo from Apple CEO Tim Cook. The plan will allow employees up to four weeks of remote work per year to allow workers time to travel, see loved ones or “shake up” employee routines.

As workers return to offices, hybrid schedules take root - The Buffalo News

Report: 98% of IT leaders concerned about security challenges due to hybrid workforce - VentureBeat

Some employers opting for geo-specific pay as remote work becomes norm - TNW

The Austrian government announced a nationwide lockdown Friday morning along with a vaccine mandate, marking the first nationwide vaccine mandate for a European country. The announcement follows Germany’s rollout of restrictions for unvaccinated citizens Thursday as Europe has continued to struggle with rising COVID-19 infections and low vaccination numbers.

Greece, like some other E.U. nations facing case surges, adds restrictions for the unvaccinated. - The New York Times

FDA clears Moderna and Pfizer’s Covid vaccine booster shots for all U.S. adults - CNBC

Europe Returns to Work-From-Home to Stem Soaring Covid Cases - Bloomberg

Workers in the United States are expecting wage increases in the coming year due to employee shortages and inflation pressures according to survey data from the University of Michigan. The news comes as 88% of Americans have expressed concern over inflation and said they plan to reduce spending where possible to deal with rising prices.

Inflation Spreads to Online Retail, Once a Haven of Discounts - Bloomberg

Take Five: Gas, inflation and time to hit the shops - Reuters

Democrats urge Biden to do more about inflation - Axios

Retail pharmacy giant CVS said it will close up to 900 storefronts over the next three years as it pivots its business model more toward health services. The announcement follows competitor Walgreens Boots Alliance’s similar shift away from a retail focus and is meant to expand CVS’s health service offerings for customers by providing treatments for diabetes and chronic care among other services.

Macy’s plans to shut 10 department stores in January while delaying other closures - CNBC

@Mikey_Tay1or: CVS closing 10% of their retail due to consumers increasing demand of buying medicine online. They’re expecting to lose $1B - $1.2B Our deal flow of vacant retail increased significantly post Covid… so I’m actually not surprised by this.

"Inflation Gives U.S. Workers Ammunition in Year-End Pay Reviews" - Bloomberg / Source: University of Michigan survey

CONTENT FACTS

Turbine Labs has tracked 18,617 media articles and blogs and 21,046 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Monday, November 22, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.

The Centers for Disease Control and Prevention expanded eligibility for COVID-19 vaccine booster shots to all adults ages 18 and up. The decision followed a unanimous vote by the CDC’s outside panels of advisers. The former Commissioner of the U.S. Food and Drug Administration said that U.S. officials might eventually consider people “fully vaccinated” for COVID-19 only if they’ve had their additional booster dose of the vaccine.

You’re getting a COVID-19 booster. How about 2022 and beyond? - Fast Company

Fauci hopes COVID-19 booster increases durability to not need it regularly - The Hill

Traditional Thanksgiving meals with all the trimmings are facing grocery prices that are up 14% compared with the 2020 holiday. Inflationary factors driving up food costs include supply chain disruptions and changes in how people eat. During the pandemic, more consumers cooked and ate meals at home, which led to increased supermarket demand and higher retail food prices.

Thanksgiving Will Cost More This Year. That Could Cost Democrats, Too. - The New York Times

Holiday season poses major test for Biden economy - The Hill

Thanksgiving Will Be Pricey This Year … Unless You Wait - Bloomberg

@GannettAlbany: Food banks were prepared for inflation around the holidays, thanks to federal aid and strong state program

Supply-chain shortages once thought to be transitory are now expected to persist until next year. While consumer demand may wane after the holidays, future trouble spots include the labor contract representing around 15,000 West Coast port workers expiring next summer, new rules by the International Maritime Organization requiring ships to reduce their carbon footprints and a potential reverse logjam in Asia next year.

Cargo ship queues have been pushed 150 miles off the coast of Southern California - Insider

Today’s Shortages Could Soon Become Tomorrow's Gluts - The Wall Street Journal

@RobertGarcia: Important thread on the progress being made on supply chain congestion at ports. We are seeing significant improvements thanks to the Biden-Harris Administration and our state partners. We have a ways to go but the data headed in right direction.

A rise in COVID-19 cases has once again prompted employers to question their return to work approaches, reflecting the continued uncertainty about the pandemic’s trajectory. Though many office spaces remain empty, offices in the 10 major U.S. cities were on average 39% occupied in the week ended Nov. 10 – a pandemic-era high.

Workers are resisting being called back to the office — and some employers are scrapping their plans - The Boston Globe

'Out of Office' considers 'why' companies want to bring back remote employees - NPR

Stubborn Covid surges signal bleak winter - Politico

A resurgence of COVID-19 restrictions in a number of countries has resulted in protests across Europe – most recently in the Netherlands – with some demonstrations turning violent and leading to dozens of arrests. The protests have come in response to a three-week partial lockdown announced last weekend following a spike in coronavirus cases.

France deploys police to Guadeloupe to quell violent Covid protests - The Guardian

Protests against Italy’s health pass fizzle. - The New York Times

@PamelaFalk: Tens of thousands of people demonstrated through central Brussels on Sunday to protest reinforced COVID-19 restrictions imposed by the Belgian government to counter the latest spike in coronavirus cases.

"Thanksgiving inflation: Cost of turkey feast up 14%" - Axios / Source: American Farm Bureau Federation; Sarah Grillo and Will Chase/Axios

CONTENT FACTS

Turbine Labs has tracked 8,220 media articles and blogs and 11,793 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Tuesday, November 22, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.

For the sixth straight week, initial jobless claims remained below 300,000, falling to 268,000 — the lowest number since the pandemic hit. The continued decrease in claims towards pre-pandemic levels is a sign employers are avoiding layoffs as many workers quit. The quits rate was measured at a record high of 3% in September, Labor Department figures show.

Retirees are ‘unretiring’ — and that’s good for the labor market - CNBC

@profwolff: Not a worker "shortage;" rather a shortage of decent wages, job conditions for decades. So now workers say "take this job and shove it" and quit or strike or unionize. Finally!

Florida Republicans approved a bill Wednesday that aims to hinder vaccine mandates in businesses and rejected claims that businesses refusing mandates sacrifice public health. After Gov. Ron DeSantis signs the bill in the coming days, Florida will become the first state with a law imposing fines on companies that require a COVID-19 vaccination for employment.

As G.O.P. Fights Mask and Vaccine Mandates, Florida Takes the Lead - The New York Times

@jayobtv: NEW: Florida legislature passes Republican-led bill meant to thwart Biden Administration vaccine mandate. Doesn’t ban workplaces from requiring the shot, but does force those employers to allow for broad opt-outs. Bill is awaiting @GovRonDeSantis’ signature.

President Joe Biden asked the Federal Trade Commission to investigate potential “illegal conduct” from energy companies as gas prices hover around a seven-year high. Fuel prices for a gallon of gasoline are averaging $3.41, according to data from the American Automotive Association. In August, the Biden administration called on OPEC to increase production and asked the FTC to monitor and address any illegal conduct.

Biden faces pressure to tap strategic oil supply as gas prices soar - Fox Business

Gas price relief on the horizon as global oil supply picks up, says IEA ​​- CNN

@SenWarren: .@ExxonMobil and @Chevron have doubled their net profit. Meanwhile, consumers are being crushed at the pump even as fuel costs have dropped. I’m glad @POTUS asked @LinakhanFTC to investigate whether greedy oil and gas giants are cheating and driving inflation.

The Occupational Safety and Health Administration suspended the enforcement of Biden’s COVID-19 vaccine mandate for private businesses after a federal appeals court opposed it last week. The agency said it is confident in its authority “to protect workers in emergencies.” OSHA originally gave employers with more than 100 employees a Jan. 4 deadline to comply with the vaccine mandate and threatened thousands of dollars in fines if businesses do not comply.

Conservative-leaning appeals court to hear challenges to Biden's vaccine mandate after ping-pong ball lottery - ​​CNN

@RepRussFulcher: Alongside my Republican colleagues in the Education and Labor Committee, I am leading the effort to introduce a Congressional Review Act (CRA) to nullify OSHA’s emergency temporary standard mandating vaccines for private sector employers.

CEO turnover spiked in the first half of 2021 as many companies restructured with hopes to navigate the aftermath of the pandemic, according to a study from recruiting firm Heidrick and Struggles. Survey findings show that stressed CEOs are not immune to the worker exhaustion and lifestyle change that has been dubbed the Great Resignation. Following resignations, the report found that women are most likely to be promoted to executive roles.

What the CEOs of Walgreens, Hilton and Progressive think about the Great Resignation - Fortune

One solution to the labor shortage: teenagers - CNBC

@malas_n: As US workers keep quitting their jobs at a record-setting rate, "employers are forced to do things that they haven’t had to do before." @smasunaga reports on the wild variety of ways companies are fending off the Great Resignation.

"The Great Resignation: Why millions of workers are leaving their jobs and what to consider before...

U.S. stock futures remained flat Wednesday amid announcements of strong earnings from Target and Lowe’s. Target said comparable sales rose 12.7% and e-commerce sales rose 29% in the most recent quarter as holiday sales launched early. Lowe’s beat analysts’ expectations for the third quarter, anticipating $95 billion in sales as the company got a bump in business from remote workers.

Black Friday is early again this year, and maybe forever - Retail Dive

Walmart ad revenue surge helps keep prices low as sales soar - Ad Age

@jimsciutto: New: Retail sales for the month of October rose 1.7%, more than economists had expected and significantly more than the previous month. In September, retail sales grew 0.7% from the month earlier, beating economists' forecast for a 0.2% decline.

The White House is prepared to invest billions of dollars towards expanding U.S. vaccine manufacturing capacity to at least one billion doses a year starting in 2022. The Biden administration has faced mounting pressure to increase the vaccine supply in poorer nations. The move comes as the Food and Drug Administration pushes to authorize booster doses of Pfizer’s coronavirus vaccine for all adults this week.

COVID vaccine can be bundled with a child's routine shots, doctors say - ABC News

Nurse Salaries Rise as Demand for Their Services Soars During Covid-19 Pandemic - The Wall Street Journal

@DataDrivenMD: Pfizer/BioNTech expect $60 billion in revenue from COVID-19 vaccine sales in 2021 and 2022. In 2023, “analysts have forecast revenue of over $6.6 billion […] mostly from booster sales.” 2/n

A federal judicial panel assigned the GOP-majority appeals court in Cincinnati to handle at least 34 lawsuits challenging the Biden administration’s vaccine and testing requirements for private businesses. The assignment casts further doubt on the survival of the vaccine mandate the White House says is central to the fight against the coronavirus.

Utah’s workplace COVID vaccine exemption bill becomes law - ABC4 Utah

Biden’s and Fauci’s supposed hypocrisy on vaccine mandates, examined - The Washington Post

Resignation rates reached record highs of 4.4 million in September, with quitting rates especially high for in-person roles in traditionally lower-paying industries such as entertainment, hospitality, trade, transportation and retail, according to the Bureau of Labor Statistics. The Great Resignation also targeted U.S. tech workers with 72% thinking about leaving their current employer in the next year, according to TalentLMS. Executives have voiced feelings that we are far from the end of the shift in worker habits.

Is The 'Great Resignation' Actually A Mass Retirement? - Forbes

The Worst of Both Worlds: Zooming From the Office - The New York Times

The CEO of the world’s biggest job portal says he has a solution to the labor shortage: getting rid of the resume - Fortune

@axios: Some 60% of firms are re-designing their offices for the post-pandemic era, according to a new report that surveyed large companies around the world. Of those, a quarter are eliminating private offices entirely.

Supply chain constraints paired with climate change are leading to a shortage of both real and artificial Christmas trees, prompting vendors to urge consumers to buy before Thanksgiving. Some businesses said that this year consumers will potentially see a 25% price increase due to the hike in transportation costs. Additionally, holiday dinners will cost more this year. Last month, the price of meat, poultry, fish and eggs rose 12% from a year ago, pork prices rose 14.1%, and beef prices surged 20.1%.

How climate change and extreme weather are crimping America’s pie supply - The Washington Post

From turkey to festive fizz: how will shortages affect UK Christmas dinner? - The Guardian

@AnnaHoffmanTV: Grocery Store workers recommend getting your Thanksgiving turkeys early to avoid impacts of a turkey shortage. Thankfully our local stores are prepared for...

President Joe Biden signed the $1 trillion infrastructure bill Monday afternoon. The bill, cut down from its original price tag of $2.3 trillion after months of debate, includes funding for broadband expansion, environmental projects and improvements for transportation infrastructure among other initiatives.

Biden’s reliance on I.R.S. enforcement to pay for $1.85 trillion bill hits a snag. - The New York Times

Students are still struggling to get internet. The infrastructure law could help - NPR

Biden’s infrastructure bill includes $50 billion to fight climate change disasters - CNBC

October retail surged 1.7% compared to September’s 0.7% due to early holiday shopping and high gas prices. October’s rise in retail sales signaled the third month of growth in a row. Economist Michael Gapen with Barclay argued that strong retail sales represent a positive sign that the U.S. economy is “back on track.”

After rally in U.S. retailers, investors eye upcoming reports - Reuters

Consumers rushing to complete holiday shopping due to supply chain concerns - WHSV

Supply Chain Challenges Won’t Ruin the Holidays—but They Will Change the Retail Industry - Adweek

Recent survey data highlighted a reduction in working hours as the preferred solution to employee burnout with 83% of survey participants saying a reduced workweek would help them tackle burnout in their jobs. Advocates of the 4-day workweek have argued a reduction in work hours may help employers deal with the effects of the Great Resignation, particularly when it comes to attracting new talent.

U.S. Faces Crisis of Burned-Out Health Care Workers - U.S. News and World Report

6 Strategies to Boost Retention Through the Great Resignation - Harvard Business Review

Robots Filling Vacant Jobs Amid Ongoing 'Great Resignation' - International Business Times

Senate Banking Chairman Sherrod Brown said the Biden administration is expected to announce its selection for the chair of the Federal Reserve soon, with a choice forecasted for before the Thanksgiving holiday. The two finalist candidates are incumbent Federal Reserve chair Jerome Powell and Federal Reserve governor Lael Brainard, both of whom were interviewed by the President earlier this month.

Inflation Prompts Growing Chorus to Call on Fed to Speed Taper - Bloomberg

Fed should hike interest rates immediately to cut stagflation risks, economist Stephen Roach suggests - CNBC

@CGasparino: BREAKING— Wall Street sets odds of a Powell reappointment to @federalreserve at just 50 50 after what was seen as a layup not long ago. We discuss why and possible impact on markets if Lael Brainard gets the nod now @FoxBusiness @TeamCavuto

Pharmaceutical giant Pfizer announced its antiviral COVID-19 pill can be produced by generic manufacturers for 95 low- and middle-income countries through a licensing agreement with Medicines Patent Pool. The clinical trial of the company’s pill showed a reduction in mortality and hospitalization rates of 89% for adults at risk of severe disease. Despite progress on the company’s antiviral drug, Pfizer CEO Albert Bourla has maintained opposition to the waiving of intellectual property rights for COVID-19 vaccines.

Pfizer to conduct trials of antiviral COVID-19 pill in Russia - Reuters

8 lingering questions about the new Covid pills from Merck and Pfizer - STAT

WHO chief calls booster distribution 'scandal' as poorer countries wait for doses - The Hill

@BogochIsaac: Pfizer signs a deal allowing their #COVID19 pill (Paxlovid) to be more accessible and "widely available in 95 low- and middle-income countries covering 53% of the world's population". Good news if those who need this can actually access it.

"The Great Resignation" - Statista / Source: U.S. Bureau of Labor Statistics

CONTENT FACTS

Turbine Labs has tracked 26,845 media articles and blogs and 20,817 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Wednesday,...

Florida Governor Ron DeSantis called for a special session of the state’s congress to discuss rules around vaccine mandates. The week-long session beginning Monday will debate four bills designed to deter local governments and businesses from instituting vaccine requirements. The news comes as Austria, where the vaccination rate is one of the lowest in Europe, has mandated a lockdown for unvaccinated residents.

U.S. weekly COVID-19 vaccinations hit highest in nearly six months - Reuters

Vaccine mandate poses tough legal questions on employer involvement in workers’ lives - MLive

Intel to require U.S. workforce to get vaccinated for COVID-19 - KATU

@thejamesmax: A further wave of Covid is on the way. Austria has now imposed lockdown conditions on the unvaccinated. What restrictions should unvaccinated people in the UK face? @talkRADIO #earlyBreakfast

Some companies have begun designing products using lower-tech solutions as the global microchip shortage continues to drag on. Companies that manufacture snowmobiles and other automobiles said they are redesigning their vehicles without GPS screens and other microchip-enabled features. The CEO of Nvidia has predicted demand will outstrip supply through next year.

Making Acquisitions to Control the Supply Chain - Bloomberg

Supermarkets Alter Layouts, Use Decoys to Fill Gaps Left by Shortages - The Wall Street Journal

Microchip Shortage Adds to Stress for Law Enforcement Agencies - Officer

President Joe Biden’s national economic advisor Brian Deese blamed inflation woes on the coronavirus Sunday in an interview with CNN. Deese’s comments echoed those of Treasury Secretary Janet Yellen who said the end of inflation depends on a successful response to the pandemic. Deese highlighted the President’s $1.75 trillion economic bill as a solution as it is expected to lower housing, child care and health care costs for Americans.

What Does Inflation Mean for American Businesses? For Some, Bigger Profits - The Wall Street Journal

Inflation Is Killing the Dollar Carry Trade in Emerging Markets - Bloomberg

Inflation raises focus on Biden Fed pick - The Hill

A hack of the FBI’s email servers over the weekend caused thousands of fake emails to be sent out alerting recipients that they had been victims of a “chain attack.” While the agency said no network data was compromised, the incident occurred just before the United States and Israel announced a cybersecurity cooperation agreement between the two countries.

Dedicated State and Local Cyber Grants Are Finally Arriving - Government Technology

As shoppers cash in on early deals, cybersecurity experts warn everyone that scammers are watching - FOX43

How to fend off cybersecurity burnout - VentureBeat

California gas prices broke the state’s previous record Monday morning, leaving the U.S’s most populous state with the highest gas prices in the nation. Senate majority leader Charles Schumer called on federal authorities Sunday to reduce gas prices in anticipation of holiday travel by tapping into the Strategic Petroleum Reserve.

South Carolina gas prices slip slightly for 2nd consecutive week - WPDE

Biden Plans to Bar New Drilling Around a Major Native American Cultural Site - The New York Times

@AdamKinzinger: The @Potus needs to, immediately, release some of the strategic petroleum reserve. People are being taxed with high gas prices, this is real world…. Not time to debate the merits of fossil fuel. We can focus long term on green energy while helping people now.

"Inflation emerges as defining economic challenge of Biden presidency, with no obvious solution at hand" - The Washington Post / Source: Labor Department

CONTENT FACTS

Turbine Labs has tracked 14,294 media articles and blogs and 15,025 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Tuesday, November 16, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.

Healthcare giant Johnson and Johnson plans to break into two companies, a move that splits up the multi-billion dollar consumer products division that sells Band-Aids, Tylenol and Johnson’s Baby Powders from the pharmaceutical business. The move follows suit of other multinational companies trying to simplify their structure as the healthcare industry changes. Toshiba Corp and General Electric announced similar plans this week.

GE closes a defining chapter in US corporate history - Financial Times

Biden administration announces deal to provide JandJ Covid-19 vaccine to people in conflict zones and humanitarian settings - CNN

The U.S. signed an international agreement on cybersecurity with 80 countries and hundreds of companies like Microsoft and Google. The agreement aims to foster an open internet and strive for better internet security through common laws and goals. The White House said the support reflects the Biden administration’s “priority to renew and strengthen America's engagement with the international community on cyber issues.”

Ransomware takes center stage in U.S. official's Middle East trip - Reuters

Bill proposes large financial institutions to report ransomware attacks, cap payments - SC Magazine

@VP: Yesterday, I announced several initiatives related to space and cybersecurity that we will undertake alongside France and other countries. This is about taking on the challenges of the 21st Century. Learn more:

The U.S. has had upwards of 10 million open jobs since June as the labor shortage persists. Last week, there were a projected 11.2 million U.S. job openings, well above their pre-pandemic peak of about 7.5 million. With many of the open jobs in warehousing, shipping and consumer-facing retail, companies are ordering a record number of robots to battle the labor shortage. North American companies ordered 29,000 robots in the first nine months of 2021, a 37% increase in orders than for the same period of 2020.

Job listings offering less than $15 an hour are starting to disappear in today's tight labor market - MarketWatch

Why Companies Are Struggling To Find Good Talent During The Great Resignation - Forbes

A new recruitment tool for employers — paying workers every day - CBS News

@libbycathey: As the holiday season approaches and employers complain of a worker shortage, President Joe Biden's COVID-19 mandates are now at the forefront of a nationwide debate on whether the government is going too far. Via @AnneKFlaherty @LukeLBarr @AmandaMaileABC

Hospitals across states from Arizona to the Great Plains and Minnesota are seeing an autumn wave of COVID-19 infections that is putting serious pressure on hospitals as intensive-care unit beds fill. Experts anticipate that with more Americans vaccinated, this year's Holiday surge is not likely to linger as long or do as much damage because there’s a higher level of protection.

Behind California's new tune on COVID boosters: fear of waning immunity and a winter surge - San Francisco Chronicle

@DrLeanaWen: After weeks of declines, #covid19 cases have plateaued. The problem is, this is far too high an infection rate: Over 70,000 new daily cases. There are still areas of overwhelmed hospitals. Deaths still top 1,000 a day. And winter is coming.

Supply chain issues have hit the North Pole. Santa bookers are overwhelmed as events and organizations hope to bring Saint Nick back to their holiday functions this year after taking last year off, but virus concerns remain high among a group of workers that skews toward older, heavier-set men. HireSanta.com reported 15% fewer Santas this year, yet the demand is 120% higher than pre-pandemic levels.

Labor Shortages Reach the North Pole - The Wall Street Journal

Tree shortage on the horizon as holiday season approaches, farmers urge customers to act quickly - 47 ABC

Holidays and supply chain shortages: These items may be difficult to find this year - WDTN 2 News

"Employers Strengthen Paid Leave Benefits...

Workers at the magazine-publishing division of Hearst, which runs outlets like Cosmopolitan and Men’s Health, have filed an unfair labor practices charge against their employer after the company mandated employees return to the office. More companies are in the process of recalling workers back to their offices – the Department of Labor noted 11.6% of employed persons teleworked due to the pandemic last month, down from 13.2% in September.

Only 28% of New York office workers are back in the office - CNBC

As companies look to bring remote workers back to the office, a writer asks: Why? - NPR

@margotroosevelt: 300+employees at Hearst’s magazine division signed petition objecting to company’s plan to have them return to the office starting next week. Their union has filed a complaint with the National Labor Relations Board.

The Biden administration urged the court not to block its vaccine mandate on employers after an appeals court temporarily halted the mandate with a nationwide stay last week. Data regarding vaccine mandates suggest they’re working, with some organizations seeing their employee vaccination rates jump from less than half to over 90%.

The Vaccine Mandate Kicks In at 100 Employees. What If You’re at 98? - The New York Times

How Employee Unrest Over Biden's Vaccine Mandate Is Spilling Over to the Smallest Businesses - Inc.

The lawsuits attacking Biden’s workplace vaccine mandate, explained - Vox

The U.S. and China announced a joint agreement Wednesday to “enhance ambition” on climate change, saying they will work together to cut emissions this decade. A draft agreement being circulated at the United Nations climate summit calls on countries to phase-out coal power and flesh out deeper cuts in carbon emissions by next year.

U.S. airlines and Amazon join push to reduce aircraft emissions - Reuters

Public Transit Use Must Double to Meet Climate Targets, City Leaders Warn - Bloomberg

The threshold for the top federal income-tax bracket in 2022 will climb by $20,000 for married couples and apply to income over $647,850. Due to increases in consumer prices, all of the tax bracket thresholds and other key tax-code parameters are rising faster than usual. This would mark the largest increase in four years.

IRS releases new standard deductions and tax brackets as inflation soars - MarketWatch

Inflation is wiping out wage increases for many workers - The Washington Post

@NHendersonWSJ: Rising consumer inflation this year is leading to a larger standard deduction, higher tax bracket thresholds for 2022, the IRS said.

British fashion chain Ted Baker said its sales are rebounding as office and party wear become popular again and COVID-19 restrictions ease. The company continues to navigate its recovery from the pandemic, with revenues still down compared to pre-pandemic levels.

Apparel shortages to drive bumper holiday sales for secondhand retailers - Reuters

Sweatpants And Sweatshirts You Can Wear For Work, And No One Will Know - HuffPost

@Captivate: 53% of business professionals said their work attire has become more relaxed in their office compared to what they wore pre-pandemic, a new Office Pulse study of 501 white-collar workers found.

"Where Inflation Is Highest in U.S." - The Washington Post / Source: Labor Department

CONTENT FACTS

Turbine Labs has tracked 19,079 media articles and blogs and 19,308 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Friday, November 12, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.

U.S. inflation hit a three-decade high of 6.2% last month, fueled by supply shortages and strong consumer demand. Inflation at the wholesale level rose 8.6% in October from a year earlier, matching September’s record annual gain and offering more evidence that inflationary pressures are not yet easing.

Futures extend losses after strong inflation data - Reuters

‘Meatflation’ Worsens As Beef Prices Hit Steepest Rise In 30 Years - Forbes

@byHeatherLong: Where Americans are seeing the most inflation: Fuel oil 59% (y/y) Gas 50% Utility 28% Used cars 26% Hotels 26% Steaks 24% Bacon 20% Pork chops 16% Wash machines 15% Furniture 12% Eggs 12% Fish 11% TVs 10% New cars 10% Chicken 9% Milk 6% Coffee 6% Flour 5% Rent (OER) 3.1%

Holiday travel volume is expected to reach pre-pandemic levels over Thanksgiving, a new AAA report estimates. AAA said that more than 53 million Americans are expected to travel by both car and plane. Just over half of TSA workers received at least one COVID-19 vaccine dose as of last month, prompting concern over potential shortages as the Nov. 22 deadline approaches. Gas prices have also risen by more than $1 a gallon since last year.

Labor union representing TSA and other federal workers urges White House to postpone vaccine deadline until 2022 - CNN ​​

Gas prices rise to a seven-year high. Here's a look at states where drivers pay the most - USA Today

Pandemic holiday travel 2.0: How to navigate Thanksgiving this year - CNN

Airbnb plans to roll out new features, including verified internet speeds and options to search for listings up to a year in advance, as the vacation-rental company bets remote work and flexible travel is here to stay. The features were announced a day after the U.S. borders reopened to foreign tourists.

Airbnb Posts Record Results After Busy Summer Travel Season - The Wall Street Journal

U.S. Travelers Plan to Spend More Amid Remote-Work Flexibility - Bloomberg

Malta: The island welcoming digital nomads - BBC

@JoePompliano: This is a wild stat from Airbnb: Over the last six months, between 20% to 25% of all Airbnb bookings have been for one month or longer. As workforces continue to become more decentralized, Airbnb no longer competes with hotels.

Warehouse logistics face challenges as Christmas goods that came early pile up alongside spring items that arrived late. Port delays have caused warehouse vacancies to plunge and rents to soar as global trade finds its footing amid the pandemic. Every $1 billion increase in online sales equates to a need for an additional 1 million square feet of warehouse space, one group estimates.

In the supply chain battle of 2021, small businesses are losing out to Walmart and Amazon - The Washington Post

Shipping is broken. Here’s how to fix it. - VOX

Nearly 70% of full-time remote employees say they have a second job, a new survey found. Younger professionals were more likely to be working two jobs, and half of all respondents say they do it to earn extra money either for personal reasons or to pay off a debt. Working two jobs may increase productivity, with 49% of those surveyed believing they are more productive.

Remote Work and Moonlighting - HR Daily Advisor

How a Side Hustle Can Boost Performance at Your Regular Job - The Wall Street Journal

"7 in 10 Remote Workers have Multiple Jobs" - Resume Builder / Source: ResumeBuilder.com

CONTENT FACTS

Turbine Labs has tracked 22,427 media articles and blogs and 16,683 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Thursday, November 11, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.

Trading platform Robinhood announced the personal information of 7 million customers — about one-third of its customer base — was exposed last week as the hacker demanded payment. The culprit obtained email addresses for about 5 million people and full names for a separate group of 2 million people, while a smaller group of about 320 people had additional personal information exposed. Robinhood gained notoriety in January after freezing trades on GameStop after a Reddit user-led run on trading.

$6 million in ransom payments seized in cybersecurity crackdown - WRAL TechWire

White House Highlights Cybersecurity Benefit in Infrastructure Package - NextGov

@campuscodi: Breaking: Robinhood discloses security breach and extortion attempt -Entry point: Hacker social engineered a customer support employee -Hacker then collected the data of at least 5mil users -When discovered, hacker asked for a ransom payment

The Mexico-U.S. border reopened to non-essential travel after 20 months Monday with fewer crossings than predicted as many residents stayed home to avoid potential chaos. The travel restrictions not only kept families apart but also hammered local businesses along the border for nearly two years.

Historic division of ‘the two Laredos’ ends with border reopening - Al-Jazeera

Nonprofit Warns Puppy Smuggling Increase as U.S.-Mexico Border Reopens - NBC San Diego

@MayorToddGloria: Today, we're celebrating the safe and responsible reopening of our border with Mexico. We are a binational region with border communities that are sustained by the free flow of cross-border commerce. This will revitalize the regional economy and reunite our families. #ForAllofUs

Long hours and uncomfortable working conditions during the pandemic worsened an already-existing trucker shortage and caused supply chain issues as warehouses overflowed while waiting for transport. While recent retirements of many drivers added to the shortage, drug tests have also driven the shortage as more than 72,000 truck drivers have failed required drug tests since January 2020.

Mass. towns paying snowplow drivers up to $310 an hour amid shortage - Boston

Truckers may be exempt from federal vaccine mandates - Fortune

@jeannasmialek: Factory production should eventually meet demand. Ports ought to clear. But will there ever be enough truckers? Great read by @maddiengo @AnaSwanson

U.S. Federal Reserve officials shifted their focus to a debate over how much longer high inflation can be tolerated by consumers and businesses. Vice-Chairman Richard Clarida said Monday that although current price pressures are “transitory,” if inflation continues at its current level it will signal a policy failure.

Central bankers take sharply different readings of inflation threat - Financial Times

Consumer inflation expectations reach new high: New York Fed survey - The Hill

New York Gov. Kathy Hochul proposed a $450 million package to boost the state’s struggling tourism industry, including $2,750 payments to up to 36,000 workers who lost their jobs because of the pandemic. The package also includes $100 million in incentives for employers in the hospitality industry to hire back workers quickly, with employers receiving a $5,000 bonus for retaining workings for six months.

New York City’s Tourist Industry Is Poised To Rebound - Forbes

New York’s cultural institutions have a lot at stake as international visitors return. - The New York Times

International tourists land and industry watches for comeback indicators - Crain’s New York Business

"‘Team Transitory’ Joined by Citi Strategists in Inflation Debate" - Bloomberg / Source: Bureau of Labor Statistics

CONTENT FACTS

Turbine Labs has tracked 19,340 media articles and blogs and 15,577 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Wednesday, November 10, at 9:30AM ET.

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