WHAT YOU NEED TO KNOW
- Stock futures indicated a flat opening Tuesday following the announcement from U.S. banks to return tens of billions of dollars to shareholders over the next year in the form of dividends and stock buybacks after being recently freed from regulators’ coronavirus restrictions. President Joe Biden refocused on the bipartisan infrastructure deal , highlighting its expected economic benefits, including the creation of millions of jobs.
- Banks’ Next Act Gets Tougher – The Wall Street Journal
- Steel Going Into Biden’s Infrastructure Plan Reaches Record – Bloomberg
- Why do roads, rail, and infrastructure cost so much to build in the US? – Vox
- Only about two in 10 people are leaving unemployment for work despite the economic recovery providing a record number of job openings. Economists said most of the factors holding back transitions from unemployment are probably temporary , including the pandemic unemployment benefits. At least 20 states have already ceased payments and the rest are slated to end in July.
- Is it a sluggish labor market — or workers positioning themselves for better opportunities? – NBC News
- When Employers Are Finally On The Losing Side Of Negotiations – Forbes
- 10 Industries Set to Raise Pay, and 10 That Won’t: Morgan Stanley – Business Insider
- Millions of jobs and a shortage of applicants. Welcome to the new economy – CNN
- Synchrony Financial began to test reopening plans in recent weeks by bringing some employees back, but under orders that they can not come back to the office five days a week. The Swiss bank UBS Group also boasted its commitment to flexible working by allowing around two-thirds of its staff to mix working from home and the office after determining it will not hurt productivity. These announcements mark a departure from other major banks that are pressuring employees to return to the office.
- 4 Imperatives for Managing in a Hybrid World – Harvard Business Review
- Factors that will help make remote and hybrid work for parents – Fast Company
- “Employers across U.S, from Fortune 500 companies to boutique firms + nonprofits, are continuing pandemic benefits–increased PTO, child-care benefits + embracing flexible work schedules–in recognition that returning workforce is at high risk of burnout.” – @bylenasun
- Several key products whose prices soared in the spring have grown less expensive, including lumber, corn, copper and a variety of other economically important commodities. But not all markets are immune – many restaurants are dealing with shortages of key ingredients as companies deal with end-of-lockdown distortions in supply chains.
- United Airlines is betting on a return to travel after purchasing 270 new planes from Boeing and Airbus, making it the biggest jet purchase placed by a U.S. airline in the last decade. The order will create 25,000 new unionized United jobs. The July 4th weekend is expected to be the busiest travel period since the beginning of the pandemic, with AAA forecasting 43 million Americans will hit the roads over the holiday and the demand for fuel is pushing gas prices up – almost 5 cents higher than a month ago and 92 cents higher than this time last year.
- Travel shares hit by summer ‘washout’ fears from tighter restrictions – as it happened – The Guardian
- It’s Not Too Late for a Fourth of July Travel Deal – The New York Times “‘We’re down about 60% now. Literally 10 weeks we were down about 90%. That tells you something about the acceleration,’ says $UAL CEO Scott Kirby on business travel. ‘I don’t think business travel comes back 100% probably until 2023.’” – @SquawkCNBC
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