• Many of the contract and temp candidates who had agreed to work at Google before the pandemic took hold in the United States were let go without any severance or financial compensation. Link
    NYT Business Sat 30 May 2020 11:29

    OAKLAND, Calif. — Google, facing an advertising slump caused by the pandemic, has rescinded offers to several thousand people who had agreed to work at the company as temporary and contract workers.

  • Renault plans to cut 8 percent of its workforce, cut production by one-fifth, and pull out of China. Link
    NYT Business Sat 30 May 2020 11:04

    FRANKFURT — About eight million people around the world earn their living making cars and trucks. It’s becoming clearer that not all of them will come out of the pandemic with jobs.

  • “Dealers are discovering they can sell cars online,” said president of Haig Partners, an automotive retail consultant. “They are learning how to interact with customers outside the showroom.” Link
    NYT Business Sat 30 May 2020 07:14

    After more than a decade of getting around New York City almost exclusively by subway and bus, Nicole Avallone decided to buy a car in April after watching the rapid spread of the coronavirus.

  • Arrested live on television while covering the protests in Minneapolis, a CNN crew led by the correspondent Omar Jimenez, was released by the police in Minneapolis after spending about an hour in custody. Link
    NYT Business Sat 30 May 2020 05:39

    The CNN crew, led by the correspondent Omar Jimenez, was released by the police in Minneapolis after spending about an hour in custody. In the moments before the 5 a.m. arrest, Mr. Jimenez could be heard calmly identifying himself as a reporter and offering to move to wherever he and his team were directed.

  • Around eight million people earn their livelihoods working for car companies. Renault made it clear Friday that not all of them will come out of the pandemic with jobs. Link
    NYT Business Sat 30 May 2020 05:14

    FRANKFURT — About eight million people around the world earn their living making cars and trucks. It’s becoming clearer that not all of them will come out of the pandemic with jobs.

  • The big debate among economists is whether a rebound from coronavirus lockdowns will resemble a V, a W, an L or a Nike Swoosh. Increasingly, economists and analysts are penciling in another glyph: a question mark. Link
    NYT Business Sat 30 May 2020 04:29

    WASHINGTON — There is widespread agreement that the United States economy will soon begin to recover from coronavirus lockdowns. The big debate is whether that rebound will resemble a V, a W, an L or a Nike Swoosh.

  • Auto shoppers typically use the internet to browse and arm themselves with information, but they go to dealers for most transactions. With the coronavirus and stay-at-home orders, that is changing. Link
    NYT Business Sat 30 May 2020 02:49

    After more than a decade of getting around New York City almost exclusively by subway and bus, Nicole Avallone decided to buy a car in April after watching the rapid spread of the coronavirus.

  • Social Security benefits are immensely valuable. Low interest rates have made them even more so, our @jeffsommer says. Link
    NYT Business Sat 30 May 2020 02:04

    It hasn’t merely been a solid support for millions of people in a difficult time. While the income-producing power of so many other assets has been sapped by economic weakness and low interest rates, Social Security payments have held steady. And thanks to those rock-bottom interest rates, the market value of the Social Security income stream has soared in a measurable way.

  • Facing an advertising slump caused by the coronavirus pandemic, Google has rescinded offers to several thousand people who had agreed to work at the company as temporary and contract workers. Link
    NYT Business Sat 30 May 2020 01:34

    OAKLAND, Calif. — Google, facing an advertising slump caused by the pandemic, has rescinded offers to several thousand people who had agreed to work at the company as temporary and contract workers.

  • "The numbers were wild." Government assistance, mainly stimulus checks, caused overall income to rise in April. But there was little to spend it on. Link
    NYT Business Sat 30 May 2020 01:04

    Personal income rose 10.5 percent, lifted by nearly $3 trillion in government transfer payments, mostly in the form of $1,200 checks that millions of households received from the federal government. But with stores closed and most Americans under stay-at-home orders, there wasn’t much opportunity to put that money to work, causing consumption to fall by 13.6 percent.

  • A compensation fund for women who said Jeffrey Epstein victimized them has taken a step closer to becoming reality. Link
    NYT Business Sat 30 May 2020 00:44

    A plan by the estate of Jeffrey Epstein to establish a compensation fund for dozens of women who say they were sexually abused by the financier as teenagers is on the verge of becoming a reality.

  • Unlike Twitter, Mark Zuckerberg has made it clear he doesn't want Facebook to weigh in on President Trump's posts. His stance is popular with conservatives, but could rile critics. Link
    NYT Business Sat 30 May 2020 00:19
    Twitter’s Jack Dorsey and Facebook’s Mark Zuckerberg have taken very different approaches to some of President Trump’s posts this week.Credit...From left: Eric Thayer for The New York Times; Tom Brenner/The New York Times
  • Cost cutting by automakers will feed political dissent in Europe. Workers at Nissan and Renault have already taken to the barricades. Link
    NYT Business Fri 29 May 2020 23:44

    FRANKFURT — About eight million people around the world earn their living making cars and trucks. It’s becoming clearer that not all of them will come out of the pandemic with jobs.

  • "I don’t think any of us knows what will happen with our economy and how comfortable people will feel spending any extra money they have on something like a book." -- Emily Powell, the chief executive of @powells Link
    NYT Business Fri 29 May 2020 23:19

    Powell’s Books was selling books online before Amazon.com existed. Over the years, its flagship store grew to occupy a full city block in Portland, Ore. And the company, which until recently employed some 500 people, is still family owned.

  • The Great Depression of the 1930s was an economic downturn that became a prolonged malaise. The economist Robert Shiller asks whether that pattern might be repeated. Link
    NYT Business Fri 29 May 2020 22:34

    Big events like a pandemic have the potential to leave behind a trail of disruption. They can create social discord, reduce people’s willingness to spend and take risks, destroy business momentum and shake confidence in the value of investments.

  • Social Security benefits are immensely valuable. Low interest rates have made them even more so, our columnist says.  Link
    NYT Business Fri 29 May 2020 22:04

    It hasn’t merely been a solid support for millions of people in a difficult time. While the income-producing power of so many other assets has been sapped by economic weakness and low interest rates, Social Security payments have held steady. And thanks to those rock-bottom interest rates, the market value of the Social Security income stream has soared in a measurable way.

  • "If I went back in time to describe this week on the internet to the 2015 version of myself, I wouldn’t have believed it," writes @shiraovide in today's On Tech Link
    NYT Business Fri 29 May 2020 21:49

    As a teen in the early 2000s, I spent a lot of time on online message boards. They were funny, chaotic places where my fellow nerds and I spent hours arguing about everything under the sun: sports, music, video games, the latest episode of “Buffy the Vampire Slayer.”

  • Gen-X realness comes to Work Friend, as we welcome @rgay to the column for the next 6 months. In her first installment, she offers the right answer to the wrong question. Link
    NYT Business Fri 29 May 2020 21:04

    These days, I am largely unemployed. Normally, I am on the road, speaking at colleges and universities and other organizations — but during a pandemic, proximity is a problem. Like a great many others, I am home all the time, writing (or pretending to write), attending meetings via Zoom, and making judgments about the glimpses of other people’s homes I see in the fuzzy little windows on my computer screen. It’s surreal that this is what work has become for nonessential workers, but whether people are in cubicles or sitting at home in jorts, they are going to have work problems for which they need solutions.

  • Google has 2 kinds of workers: Full-timers who received improved benefits to deal with the pandemic; and temps and contractors, some of whom had job offers rescinded as the company looked to cut costs. Link
    NYT Business Fri 29 May 2020 20:04

    OAKLAND, Calif. — Google, facing an advertising slump caused by the pandemic, has rescinded offers to several thousand people who had agreed to work at the company as temporary and contract workers.

  • The Great Depression of the 1930s was an economic downturn that became a prolonged malaise. A Nobel laureate asks whether that pattern might be repeated. Link
    NYT Business Fri 29 May 2020 19:34

    Big events like a pandemic have the potential to leave behind a trail of disruption. They can create social discord, reduce people’s willingness to spend and take risks, destroy business momentum and shake confidence in the value of investments.

  • Low interest rates have made Social Security even more valuable. But the coronavirus crisis is likely to its long-term shortfall worse. Link
    NYT Business Fri 29 May 2020 19:04

    It hasn’t merely been a solid support for millions of people in a difficult time. While the income-producing power of so many other assets has been sapped by economic weakness and low interest rates, Social Security payments have held steady. And thanks to those rock-bottom interest rates, the market value of the Social Security income stream has soared in a measurable way.

  • Powell's Books became an unlikely tourist attraction in Portland, Oregon. But the store is shuttered, and chief executive Emily Powell is having to rethink the books business altogether. Link
    NYT Business Fri 29 May 2020 18:34

    Powell’s Books was selling books online before Amazon.com existed. Over the years, its flagship store grew to occupy a full city block in Portland, Ore. And the company, which until recently employed some 500 people, is still family owned.

  • Roxane Gay is your new Work Friend. "I'm eager to hear about your professional nemeses, incompetent bosses, moral dilemmas and desires for a raise — with the understanding that sometimes, the right answer and the realistic answer are 2 different things." Link
    NYT Business Fri 29 May 2020 18:04

    These days, I am largely unemployed. Normally, I am on the road, speaking at colleges and universities and other organizations — but during a pandemic, proximity is a problem. Like a great many others, I am home all the time, writing (or pretending to write), attending meetings via Zoom, and making judgments about the glimpses of other people’s homes I see in the fuzzy little windows on my computer screen. It’s surreal that this is what work has become for nonessential workers, but whether people are in cubicles or sitting at home in jorts, they are going to have work problems for which they need solutions.

  • We’re in the middle of a pandemic, and the American president and Twitter are battling it out. In today's On Tech, @shiraovide looks at this week on the internet Link
    NYT Business Fri 29 May 2020 17:39

    As a teen in the early 2000s, I spent a lot of time on online message boards. They were funny, chaotic places where my fellow nerds and I spent hours arguing about everything under the sun: sports, music, video games, the latest episode of “Buffy the Vampire Slayer.”

  • RT @rgay: I am the new work friend for the New York Times, and here is my first column, where I answer the wrong question about the safety…
    NYT Business Fri 29 May 2020 17:29
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