Executive Leadership Briefing

Stock futures edged higher Wednesday following Federal Reserve Chairman Jerome Powell’s statement that the U.S. economic recovery still hasn’t progressed enough to begin scaling back the central bank’s massive monthly asset purchases. Stocks have recently maintained record highs on expectations of a strong economic rebound, however, investors remain wary of potential hurdles, including how long the higher inflation will last as well as the prominence of COVID-19 variants.

Inflation worries ruffle stocks, underpin dollar - Reuters

How Economists Gather Data To Calculate Inflation - NPR

Bank of America stock drops after profit beats expectations but revenue falls short - MarketWatch

@BenEisen: A big earnings beat for Bank of America. Under the hood, net interest income is still getting hit by low rates, pressuring revenue, and expenses are up

Delta Air Lines reported second-quarter revenue that topped Wall Street’s estimates, snapping a five-quarter streak of losses. American Airlines shares rose after the carrier forecast better revenue and a narrower loss than previously estimated for the second quarter. Air travel has increased sharply since the distribution of COVID-19 vaccines in the U.S. – American said it flew 44 million passengers in the second quarter, marking an 82% increase from the first three months of 2021.

Don't Let The Optimistic Talk Fool You: US Airlines Still Have A Long Way To Go To Reach Full Recovery - Forbes

Passport Renewal Wait Times Could Delay Your Trip - The New York Times

Business Trips Are Coming Back Faster Than Expected in the U.S. - Bloomberg

A rise in cyberattacks is prompting financial firms to bolster their defenses as more employees work from home. Cyber activities, like phishing, malware and ransomware grew from fewer than 5,000 per week in February 2020 to more than 200,000 per week in late April. Microsoft announced it is buying cybersecurity firm RiskIQ to help companies better protect themselves as ransomware becomes increasingly disruptive.

Chip Shortage Has Spawned a Surplus of Fraudsters and Fake Parts - The Wall Street Journal

How Cloudflare is reengineering its offices for a post-Covid world - Cloudflare

Your Company Needs a Digital Nomad Policy - Harvard Business Review

@dralissajay: It's now estimated there is a @ransomware attack somewhere in the world every 11 seconds, according to Cybersecurity Ventures @CybersecuritySF. At least $20 billion was stolen worldwide last year, up more than 50-fold since 2015.

General Motors plans to expand its offices in Southern California, betting on a return to the office. A GM executive said working in person is critical to the team’s work. The move comes as some businesses shrink their real estate footprints to generate savings and others implement hybrid-work models.

What working from home means for women - Vox

How Flexible are Big Tech’s Hybrid Work Models? - MarketScale

Why You Need A Flexibility-Forward Return-To-Work Strategy - Forbes

Smaller cities are attracting workers, capitalizing on remote work and boasting a lower cost of living. Oklahoma, Alabama and Arkansas have all seen relocation initiatives increase. A nonprofit that aims to bring tech talent to Chicago said it's important that “we move quickly and tap into this moment of reconsideration.” About 30% of remote workers plan on moving, according to recent surveys.

Unused community spaces should be part of the hybrid office - Fast Company

Why Remote Work Might Not Revolutionize Where We Work - NPR

@kimmaicutler: "Relocation buyers will... fundamentally change the housing landscape across the country. The agglomeration of higher-income individuals is likely to be accompanied by a permanent shift to more expensive housing, a problem that will be exacerbated as mortgage rates rise."

"It’s time for leaders to get real about hybrid" - McKinsey and Company / Source: McKinsey Reimagine Work Survey

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U.S. stock futures were mixed in anticipation of June inflation data, which rose by 5.4.%, the largest jump since 2008. A new survey released by the National Federation of Independent Business showed optimism among small businesses rose slightly in June, despite worries surrounding inflation and a labor shortage.

As consumers fret about near-term inflation, the Fed is watching closely. - The New York Times

Inflation Is Still High. Used Car Prices Could Help Explain What Happens Next - NPR

Popular short-video app TikTok told employees that some will be able to work remotely up to two days a week after they return to the office. The company is currently fully remote and has not set a return-to-office date. Gen Z workers expressed concern about missing valuable opportunities with fully remote work in a recent survey. Nearly three quarters of young people said they would miss the office community and 41% said they would miss mentoring opportunities in a remote future.

Will Remote Work Affect Our Chances at a Promotion? - Morning Brew

Why Remote Work Might Not Revolutionize Where We Work - NPR

@erica_pandey: A whopping 40% of college students and recent graduates prefer fully in-person work, according to a new @Generation_Lab poll. That's starkly different from the rest of the workforce: Just 12% of all office workers want to go back full time

Financial firms may need to boost their defenses as cyber attacks skyrocketed amid remote work, according to the Financial Stability Board. In the first report of its kind on the pandemic’s impact on financial stability, the FSB warned that “most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors.”

'CFOs naturally understand risk' making them key cybersecurity advocates - Fortune

5 things cybersecurity leaders need to know to make hybrid work safe - VentureBeat

Work from home is more than just digital business – it's business evolution - Verdict

An Indiana Court of Appeals ordered the state to continue paying unemployment benefits, which would require state officials to continue to pay the benefits as the challenge to the governor’s decision to end the benefits moves through the courts. The payments, which have not gone out since June 19, will restart on Friday. Later today, a Baltimore judge will announce whether Maryland can end its participation in the federal unemployment benefits program. Funding for the federal program is set to expire nationwide Sept. 6.

Federal unemployment benefits to continue in Maryland until at least mid-August - The Washington Post

Decision on unemployment lawsuit expected Tuesday, but federal benefits will continue until at least mid-August - The Baltimore Sun

@Hicks_JustinM: Just about an hour after this decision, @USDOL issued a memo to states saying they can, in fact, create new agreements with the federal government to pay those benefits. This effectively kills Indiana's legal argument that the contract ended and there's nothing they can do now.

French consumers who want to enter a restaurant, shopping center, hospital or taking a long-distance train will need to show a COVID-19 health pass starting in August as France works to contain the surging Delta variant. Bookings for vaccine appointments surged in the country after the announcement, which included mandatory vaccinations for healthcare staff, retirement home workers and others who work with vulnerable populations.

Everything you need to know about traveling to France this summer - The Washington Post

Europe struggles to break free of Covid restrictions as delta variant surges - CNBC

@drdavidsamadi: Emmanuel Macron has decided that vaccines will be mandatory for all healthcare workers in France and soon it will be nearly impossible to do anything without a vaccine passport. He is debating mandating the vaccine for the populace, but will limit what non-vaccinated can do.

"Consumers Expect...

President Joe Biden issued a sweeping order Friday to promote competition in the U.S. economy amid the post-pandemic recovery. The order aims to "reduce the trend of corporate consolidation, increase competition, and deliver concrete benefits to America’s consumers, workers, farmers, and small businesses," the White House said.

Why Biden’s new noncompete policy could amplify the ‘Great Resignation’ - Fortune

How New Biden Rules Could Make It Easier To Buy Hearing Aids Or Fix Your Phone - NPR

@WhiteHouse: President Biden knows that capitalism without competition isn’t capitalism—it’s exploitation. That's why he signed an executive order to maintain and increase competition across critical sectors including health care, wages, and the internet. Learn more

According to a recent Monster survey, 95% of workers are considering changing jobs and 92% are willing to change industries to get a new job. Burnout has led many employees to conclude that "life is too short" to work for a company that doesn't show compassion for its employees, driving "The Great Resignation" post-pandemic.

Should You Leave Your Job? 8 Ways To Know If The Grass Will Be Greener Somewhere Else - Forbes

The post-pandemic office: how to prevent burnout - Information Age

@McKinsey: Are fears of the “Great Resignation” overblown? Perhaps—but it’s undeniable that change is afoot as many workers return from remote and reevaluate their employers. For leaders, this is a once-in-a-generation opportunity to reimagine how work gets done

More workers are requesting sick notes as they return to the office, with the main illnesses cited including stress, anxiety and depression. Nearly half of surveyed adults continue to report negative mental health issues related to the pandemic, including worry and stress due to public health and economic factors. Employers can help ease their employees' transition back to the office by offering flexibility in coming back to the office and offering resources to seek professional help.

How Covid Affected Employee Perks And What They Will Look Like Post-Pandemic - Forbes

Employee wellbeing is a necessity, not a luxury - BenefitsPro

A recent Canva study found that over three-quarters of surveyed workers felt that participation and inclusion between onsite and remote workers was a challenge in returning to the office, highlighting the need for new technologies and processes to make hybrid work successful. Just over 40% of workers will be shifting back to working completely onsite, while 21% will work completely remote and 38% expect to work in a hybrid environment.

The Uneven Odds for Promotions With Hybrid Work - The Wall Street Journal

Struggling to Keep Remote Teams Connected? This Startup Turns Bonding Into a Game - PCMag

How to Achieve Sustainable Remote Work - The New Yorker

German banks are cutting back on office space as more workers continued to work from home, putting them at the forefront of a potentially permanent shift in how bankers work. While many industries were crippled by the pandemic, news agencies adjusted to remote work without much difficulty, leaving publishers and producers to experiment on whether long-term flexible work arrangements can work for the industry.

Top office landlord calls on big bank CEOs to ‘find a backbone’, bring staff back - The Globe and Mail

Work-from-anywhere firms are here to stay - Financial Express

Remote work flexibility key for employee retention - Tech Target

"Hybrid Workplace Needs New Technology To Boost Collaboration and Participation: Canva Study" Toolbox HR, Juy 9, 2021 / Source: Canva Study

CONTENT FACTS

Turbine Labs has tracked 9,180 media articles and blogs and 16,649 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Tuesday, July 13, at 9:30AM EST.

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

Pfizer and BioNTech plan to ask U.S. and European regulators to authorize a booster shot for their coronavirus vaccine, citing evidence of a higher risk of infection six months after inoculation. COVID-19 cases in the U.S. are up by 11% over the last week, almost entirely among people who have not been vaccinated. Preliminary data from the Centers for Disease Control and Prevention suggest that 99.5% of coronavirus deaths in recent months were unvaccinated people.

Los Angeles County sees exponential growth in Covid-19 cases as Delta variant becomes dominant, worrying officials - CNN

@USATODAY: "If you're vaccinated there is a light at the end of a tunnel. If you're unvaccinated that's probably a train," tweeted Erik Frederick, a hospital administrator in Springfield, Missouri. The city reported that hospitalizations tripled in the last month.

The U.S. Chamber of Commerce warned that the labor shortage is likely the greatest threat to the U.S. economy this summer, citing a new report that estimates about 1.2 available workers per job opening. More than nine million Americans said in May that they wanted jobs that they couldn’t find, indicating a massive and complicated mismatch as people leave cities and industries where workers are most needed.

“People Get Upset”: A Mass Labor Shortage Is Leaving Hamptonites to Fend for Themselves - Vanity Fair

What Does A Worker Want? What The Labor Shortage Really Tells Us - Forbes

Consumer borrowing has made a strong resurgence this spring, with demand for auto loans, credit cards and personal loans up 39% in April over the same period last year. Lenders extended a record number of auto loans and leases in March as consumer appetites grew for vacations and dining out.

Wells Fargo is shutting down all personal line of credit accounts - CNBC

@federalreserve: May consumer credit up 10%; revolving credit up 11.4%; nonrevolving credit up 9.5% (SAAR):

The world’s top economic leaders will convene on Friday for G20 negotiations, kicking off a three-month process that includes a significant overhaul of the international tax system. More than 100 economists are petitioning for a tax on financial transactions that would raise up to $100 billion a year to sustain the costs of the pandemic, tackle climate change and boost job creation.

Higher food prices help fuel 40% jump in global hunger - UN agency - Reuters

A rate rise in the U.S. might trigger big problems in the developing world - Washington Post

IMF Board Backs $650 Billion Aid Plan to Help Poor Countries - The New York Times

The rise of ecommerce is fueling a surge in trademark filings in the U.S., creating a backlog of nearly 1 million trademark applications and delaying even routine office operations. Digital transformation is driving an estimated 17.4% increase in spending on “future of work” technologies such as cloud, AI, and SaaS.

Change by design: The new role of digital and software in organizational transformation - CIO

Best Buy will be the only top US retailer to see ecommerce sales drop in 2021 - emarketer

@briansolis: Don't settle for the 'new normal'—it’s time to reimagine the role of digital transformation in the future of work.💡💭

"Diaper Inflation Wrecks Already-Strained Family Budgets in U.S." - Bloomberg / Source: Nielsen

CONTENT FACTS

Turbine Labs has tracked 17,998 media articles and blogs and 18,690 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Monday, July 12 at 9:30AM EST.

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

New jobless claims edged up in the last week, even as impediments to returning to work are easing. Minutes from the Federal Reserve’s June meeting, released on Wednesday, indicate that some members have grown wary of rapidly rising inflation, dividing board members over how to move forward.

Euro-Area Outlook Raised by EU With Warning on Inflation - Bloomberg

Higher inflation is no longer hypothetical—and it has Americans worried - Fortune

@SchwabResearch: Sector Views: How changes in interest rates and style leadership affect stock market sectors.

The rapid growth of the U.S. economy continues to strain supplies for even more goods. In addition to the semiconductor chip shortage that has plagued the automotive and electronic sectors, shortages abound among those selling patio furniture, chicken wings, and other food items such as flavored syrup, canned beer and sodas. Blood centers across the U.S. continue to plead with the public to donate blood, which is in such short supply that many hospitals have been forced to postpone their surgeries.

Everything You Need to Know About the Great Lumber Crisis of 2021 - Vice

How to buffer against an urban food shortage - Nature

@TIME: From cars to toasters, America's semiconductor shortage is wreaking havoc on our lives. Can we fix it?

Japan’s prime minister has declared a state of emergency aimed at containing rising infections in Tokyo, meaning that all fans will likely be banned from viewing the Olympics from any venue. A ban on serving alcohol will likely tone down Olympic-related festivities, while Tokyo residents are expected to face stay-home requests.

Australia's slow vaccination, locked borders eclipse early virus success - Reuters

Phuket draws tourists despite rising Thailand virus cases - Associated Press

The post-pandemic return-to-work has provided a fresh opportunity for proponents of the four-day workweek to make their case. New York-based crowdfunding platform Kickstarter will implement the shorter workweek as a way to provide workplace flexibility outside of offering remote work. Researchers dubbed trials of a shorter workweek in Iceland an “overwhelming success.”

Is Thursday the new Monday? Flexible working is in flux - Star-Tribune

@k8em0: We have a 4 day work week and 2 company-wide paid 2 week shutdowns per year, in addition to other holidays and PTO. It takes discipline and I’ve had to defend the sanctity of email-free weekends (from excited employees or contractors) but it really does help enhance focus.

Consumers are splurging on products that highlight a move away from quarantine routines. Eye makeup, teeth whitener kits, false eyelashes and lipstick were up at least 20% over a year ago, while online resale sites and donation centers across the country say their inventory is growing even more as consumers purge their wardrobes of sweatpants and loungewear.

Moths ate the clothes you stashed away during the pandemic, so this Boston weaver is busier than ever - Boston Globe

Record Everything in U.S. Stock Market, Including Retail Froth - Bloomberg

The pandemic has changed the clothes we shop for - Marketplace

"It’s unclear whether state cuts to unemployment benefits got people back to work in June" - CNBC / Source: State announcements and websites

CONTENT FACTS

Turbine Labs has tracked 17,177 media articles and blogs and 21,329 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Friday, July 9 at 9:30AM EST.

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

The cost of renting a home is rapidly rising across the U.S., underscoring fears that pandemic inflation may not fade as quickly as authorities planned. The median national rent climbed 9.2% in the first half of 2021, leaving rents at a higher level than they would have been if they stayed on their pre-pandemic trajectory. The International Monetary Fund warned of sustained inflation in the U.S., advising that federal authorities may need to raise interest rates earlier than expected.

Beware Of 'Shrinkflation,' Inflation's Devious Cousin - NPR

OPEC+ squabble sends oil prices to 6-year high, threatening recovery and fanning inflation fears - Fortune

@Heritage: America’s rising consumer price index and weak job growth have caused talk of 1970s-style “stagflation,” an economy that exhibits both high unemployment and inflation. Join us tomorrow morning for a 30-minute Policy Pulse discussion

Some retirees are voicing concern about the rising cost of necessities on a fixed income, while working Americans say the pandemic moved them to save more money overall. More than one-third of people said in a survey that they plan to increase their 401(k) contributions and increase their investments outside of their 401(k)s, and more than 30% said they plan to pay off debt.

From Amazon to Starbucks, What Companies Paid Workers in the Pandemic - Wall Street Journal

As employers struggle to fill jobs, teens come to the rescue - Associated Press

Leidos, a Virginia-based IT company, will offer employees the chance to win a full year’s salary if they get vaccinated. The company will divide $1 million to reward 10 randomly selected workers through a vaccine lottery. The incentives are announced as health officials in states such as Ohio and Arkansas say that vaccine lotteries did not result in an increase in vaccinations.

Workplace COVID jabs on the agenda as business is brought into vaccination effort - The Conversation

Britain-based workspace company IWG is shifting its offerings away from large offices in favor of shared spaces, adding three times as many shared spaces this year compared to 2020 in anticipation of lasting changes. Local authorities say the reduction of foot traffic and lower density in downtown cores could cost billions in lost revenue for downtown districts.

Survey: Nearly Half of Business Owners Say Remote Work Is Hurting Productivity - Inc.com

We Need Remote Work for Everyone - The New York Times

@HarvardBiz: In New York City, office vacancy rates have risen 11.3% in the last year, and now stand at the highest level in 27 years.

Home Depot and Lowe’s are zeroing in on home professionals and contractors as consumers shift away from DIY projects. Executives at both companies said they are seeing pent-up demand for professional projects as consumers feel comfortable inviting contractors back into their homes.

Consumer Spending Shifts to More At-Home Activities Post-Pandemic - CSNews

@BarclaysIB: The #futureofwork will be built around more #flexibleworking. But which sectors will benefit? Home improvement businesses, carmakers, and more. Read the latest from our Research analysts on the wider effects of #hybridwork.

"‘Inflation is the silent killer,’ as many retirees are feeling the sting" - CNBC / Source: U.S. Bureau of Labor Statistics

CONTENT FACTS

Turbine Labs has tracked 19,948 media articles and blogs and 18,900 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Thursday, July 8 at 9:30AM EST.

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

The economies of U.S. tourist destinations such as Las Vegas are bouncing back, but the rise of the Delta variant in Nevada and at least four other states has public health officials pleading with the public to get vaccinated. Israel is reporting a rise in infections, even among those protected with the Pfizer vaccine, as the highly transmissible variant spreads across the country.

Boris Johnson gives green light for return to workplaces from 19 July - The Guardian

As Delta variant sweeps U.S., COVID vaccinations rise in Arkansas : "They see the risk increasing" - CBS News

New Mexico will begin offering cash payments to people who return to the workforce this summer in an effort to shore up the labor shortage sweeping the country. In Connecticut, residents claiming unemployment must now report their work searches to the state’s labor department or face a denial of benefits.

Businesses banking on a summer boom face foreign worker shortage - Politico

Skilled labor shortage is triggering wage gains - Quartz

How small business is claiming billions in cash refunds from IRS - CNBC

@MaryKayHenry: "There is a shortage of workers who want to work at what you’re offering." #FightFor15 #UnionsForAll

Up to 1,500 businesses were affected by a “colossal” ransomware attack that appears to be affiliated with a major Russian-speaking ransomware syndicate. Cybercriminals targeted a software supplier called Kaseya, paralyzing company networks as conversations continue about cybersecurity in remote work.

Elastic Clarifies How Cloud 'Cleaned-Up' The Work From Home Directive - Forbes

Work at Home or the Office? Either Way, There’s a Start-Up for That. - The New York Times

Amazon begins new chapter as Bezos hands over CEO role - Associated Press

The divide between Wall Street companies that will allow remote work and those requiring employees to return to the office continues to grow, underscoring debates about company culture and its importance in the modern workplace. Credit Suisse announced a “maximum flexibility” remote work model, a move that some say will offer the company a recruiting edge.

At Sweetgreen, Seeing the Future of Work in a Desk Salad - The New York Times

New Qualcomm CEO on the future of work and his company - Axios

@AdamMGrant: The future of work is hybrid. 32% never want to go back (esp women w/young kids) 21% never want to be remote (esp singles, empty nesters) To prevent disparities and promote collaboration, where possible, have teams coordinate days onsite vs. remote.

The self-storage market is booming, thanks to more people who are moving, those who chose to free up space in their homes for remote work, and those who are using it as a transition tool as they navigate an unprecedented housing market that continues to drive up home prices.

How did the housing market turn white-hot? It wasn't just the pandemic. - NBC News

Vacation home sales soared during pandemic, report finds - Washington Post

@latimes: The shortage in the housing supply has caused a “crisis” for many of Boeger's friends who can’t afford to wade into the housing market, she said. “I’m in that boat,” said Boeger, who lives in an 800-square-foot apartment with her son and daughter.

"Employers are paying up to address labor shortages" - Axios / Source: U.S. Department of Labor and Wells Fargo Securities

CONTENT FACTS

Turbine Labs has tracked 16,074 media articles and blogs and 19,107 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Wednesday, July 7, at 9:30AM EST.

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

Despite the labor market heating up – the U.S. added 850,000 jobs in June – economic disruption related to the pandemic has driven many out of the workforce prematurely. The trend is largely forcing lower-income workers into early retirement. Among people with incomes at or below the national median, 55% of retirements were recently involuntary. By contrast, among the top 10% of earners, only 10% of exits were involuntary. Since retired workers tend to spend more cautiously, the trend could slow down economic recovery.

IMF projects US economy to grow 7% due to robust vaccinations, but warns of inflation - PBS

House of Representatives passes bill to protect older Americans in the workplace - CNBC

Cost of Inequity: Age Discrimination Could Cost the Economy Trillions - Insider

Big tech companies said Thursday’s breakthrough in negotiations over a global tax overhaul was a step toward avoiding a patchwork of overlapping national taxes, but executives and trade bodies remain hesitant to call it a win until those tax regimes disappear. Over 130 countries met virtually to agree that the U.S. will secure international backing for a global minimum rate of tax, marking the most sweeping change in international taxation in a century.

President Biden wins global support for massive tax overhaul - CNN

New FTC Chair Lina Khan Wants To Redefine Monopoly Power For The Age Of Big Tech - NPR

“ICYMI — The world just agreed to the first major overhaul of how companies pay tax in decades. Some low-tax regimes refused to sign up, paving the way for ongoing bickering.” - @markscott82

Apple will pilot a hybrid in-store and work-from-home arrangement for retail employees, acknowledging a rising trend in online shopping, even as the pandemic eases and more economies reopen. The pilot will last at least six months and participating employees will be paid the same salary, plus some extra for internet and office equipment.

What online shopping is doing to retail profit margins - Quartz

Gap to close all stores in UK and Ireland - CNN

Shogun, a front-end e-commerce page builder, nabs $67.5M as retailers look for alternatives to marketplaces - TechCrunch

Venmo announced a feature that gives people with personal accounts the ability to toggle between transaction types and the company will take a 1.9% cut of commercial transactions – a fee previously reserved only for registered businesses. Venmo says the new system is meant to protect buyers and sellers, but small businesses say the change is making it more expensive for them to operate on the platform.

Will emojis on Venmo really save sellers money? - Slate

Will The Future Of Payments Include Cash? - Forbes

“Venmo is getting more serious about the famously blurry line between personal and business transactions on the app (because it takes a cut of the latter).” - @zseward

Burnout among the American workforce is on the rise, exacerbating a widespread problem that existed even before the pandemic. “Hustle culture,” toxic stress and poor access to affordable health care have all compounded to make Americans among the least healthy populations in wealthy countries. Burnout is defined as the mental and physical fallout from accumulated stress in any sphere of life, including work, parenting, caregiving or managing chronic illness.

Pandemic burnout is taking a toll on Americans, says doctor - MSNBC

To avoid burnout, Mozilla, Fidelity, Marriott and other companies offer workers more time off - The Washington Post

“Here’s how to tell if your urge to leave is the result of temporary burnout and restlessness, or a real desire for change.” - @FastCompany

"U.S. added 850,000 jobs in June" - The Wall Street Journal / Source: U.S. Labor Department

CONTENT FACTS

Turbine Labs has tracked 13,687 media articles and blogs and 17,306 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Tuesday, July 6, 2021, at 9:30AM EST....

Worker filings for jobless claims fell to 364,000 last week, reaching a new pandemic low as layoffs continue to recede. Jobless claims are down by more than 40% since the first week of April, but remain elevated compared to pre-pandemic levels. Global shares retreated Wednesday evening as investors’ fear worsened over a sudden rise in inflation and the Delta variant of COVID-19.

Fed Unity Cracks as Inflation Rises and Officials Debate Future - The New York Times

Wall Street powers through the first half of 2021 with U.S. stocks at record highs - The Washington Post

Key Economic Questions for the Second Half of 2021 - Bloomberg

“Private equity companies have struck deals worth more than $500bn in the first half of 2021, the highest amount since records began in 1980” - @FinancialTimes

Team communication app maker Slack launched a new feature that allows casual audio calls that colleagues can jump in and out of while working. Slack Huddles is an attempt to better accommodate companies that have not directed employees to return to the office. Salesforce expects to complete its proposed $28 billion acquisition of Slack near the end of the quarter that ends on July 31.

How Slack Is Preparing for the Future of Work - Bloomberg

AWS has acquired encrypted messaging service Wickr - TechCrunch

If you’re burned out on Zoom calls, try Slack’s new feature - Fast Company

“Slack’s version of Clubhouse, Huddles, is here and it’s basically how I have been using Slack for months: Quick and easy voice chats.” - @JoannaStern

Rulings dismissing federal and state antitrust lawsuits against Facebook renewed pressure on lawmakers to push through proposed legislation that would rewrite key aspects of monopoly laws that would make some of the tech giants’ business practices illegal. Following the dismal, Facebook shares rose, putting its market capitalization over $1 trillion for the first time. Experts warn the decision may serve to harden the resolve of lawmakers as well as encourage regulators outside the U.S. who are pursuing their own antitrust investigations.

How Washington and Big Tech won the global tax fight - Politico

Dismissal of FTC's Facebook antitrust lawsuit may spur rewrite of law - The Washington Post

Tech industry urges Congress to slow down new antitrust bills - CNBC

Apple refused to back down from its hybrid work model that will require most employees to return to the office three days a week starting in early September. Fully remote positions will also be extremely limited. In early June, some Apple employees protested the new policy, expressing their displeasure in an open letter to CEO Tim Cook.

Apple Won't Back Down, Demands Employees Return to Office in September - Insider

We’re Fumbling the Return to Physical Offices - The Scientific American

“Apple will expect employees to be in the workplace on Mondays, Tuesdays and Thursdays and work from home on Wednesdays and Fridays.” - @ITPro

With Americans gradually returning to the office, data shows rush-hour traffic remains more spread out. Rush hour mellowed in many places as the pandemic shifted schedules and allowed more people to work from home. Traffic is still expected to increase as many employees are expected to return to the office after Labor Day, but experts remain confident that more flexible work arrangements will keep overall traffic volume lower than pre-pandemic levels.

A new city has been found to have the worst traffic in the US, unseating Los Angeles - The Hill

Commuting Has Surprising Mental-Health Benefits - The Atlantic

How To Create A ‘Commute’ To Improve Working From Home - WPR

"5 Findings From A New NPR/PBS NewsHour/Marist Poll On COVID-19 And The Economy" - NPR / Source: NPR/PBS NewsHour/Marist poll

CONTENT FACTS

Turbine Labs has tracked 15,944 media articles and blogs and 16,919 social media posts over the last 24 hours.

The next Turbine Labs Leadership briefing will be delivered on Friday, July 2,...

Uber became the latest tech company to tell employees it will roll out a hybrid return-to-work model this fall. The company is asking employees to be in the office 50% of the time and is also allowing the option for workers at its global office to apply to become fully remote. Other tech companies, like Facebook and Twitter, have also made permanent remote work a significant part of their reopening strategy.

The U.S. Supreme Court rejected a New Hampshire challenge to Massachusetts’ practice of taxing people who once worked in that state but started telecommuting from elsewhere during the pandemic. Had it gone forward, the case could have determined the fate of similar, permanent tax laws in various other states.

U.S. consumer confidence soared in June as Americans became more upbeat about the economy and job market and economists predict consumer spending will continue to support economic growth in the short term. The White House remains confident that the recent price gains will fade, but central bankers remain divided over how to think about and respond to emerging risks.

Heat waves that rolled across the Pacific Northwest this week impacted the region’s economy as some restaurants closed to protect kitchen staff, public transit was disrupted and one utility company instituted rolling blackouts as surging electricity demands strained power grids. Power and gas prices climbed across the U.S. earlier in the week and natural gas futures rose.

In more than two-thirds of U.S. cities, apartments under construction are larger on average than those built over the previous five years as more people look for additional space while spending more time working from home. Real estate executives suggest the trend will continue as the health crisis puts a new premium on space.