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The hybrid car-aircraft, AirCar, is equipped with a BMW engine and runs on regular petrol-pump fuel.
Its creator, Prof Stefan Klein, said it could fly about 1,000km (600 miles), at a height of 8,200ft (2,500m), and had clocked up 40 hours in the air so far.
It takes two minutes and 15 seconds to transform from car into aircraft. READ MORE
Back in November, the Planet Money newsletter reported that — despite a deadly pandemic and an ugly recession — America was seeing a boom in the creation of new startups. We spoke with University of Maryland economist John Haltiwanger, one of the leading scholars of business formation. Now Haltiwanger has a new study out, and the trend is clear: "The surge continues," Haltiwanger says. "We're now convinced this wasn't just a blip." READ MORE
Some companies can't wait to get to get their employees back to the office full-time. Synchrony Financial is not one of them.
Synchrony (SYF), America's largest store credit card company, is not allowing employees to return to the office five days a week even as the pandemic winds down. READ MORE
B2B tech sales in 2021 has seen some big changes. The biggest by far? The emergence of buyers in the sales process.
The days of tech sales teams controlling the entry points to the sales funnel are over. The days of sales teams leading potential customers through their own process regardless of customer desires are over. READ MORE
There's a problem at James Hook's chicken farms, and it has nothing to do with poultry.
P.D. Hook, a hatchery that supplies one third of the chickens sold in the United Kingdom, should be humming along as the economy roars back to life. But the company is short about 40 farm workers, double the usual number of vacancies. READ MORE
There's never been a better time for companies to raise funding from hot markets or make moves to scoop up their competitors.
That's been a huge boon to investment bankers, who are gearing up for another summer of juggling dealmaking with vacations. READ MORE
The era of virtual work isn't ending at UBS.
The Swiss bank will allow up to two-thirds of its employees around the world to permanently adopt a hybrid schedule that includes a mix of working from home and from the office, a person familiar with the matter told CNN Business. READ MORE
Stephen Normandin spent almost four years racing around Phoenix delivering packages as a contract driver for Amazon.com Inc. Then one day, he received an automated email. The algorithms tracking him had decided he wasn’t doing his job properly. The 63-year-old Army veteran was stunned. He’d been fired by a machine. READ MORE
Employers considering bringing their employees back into the office might want to reconsider.
A whopping 58% of workers say they would “absolutely” look for a new job if they weren’t allowed to continue working remotely in their current position, new data finds. According to FlexJobs, which surveyed more than 2,100 people who have been working remotely during the pandemic, 31% aren’t sure what they would do and only 11% say not being able to continue working remotely is not a big deal to them. READ MORE
Morgan Stanley's staff and clients will not be allowed to enter the bank's New York offices if they are not fully vaccinated, according to a source familiar with the matter.
Employees, clients, and visitors will be required to attest to being fully vaccinated in order to access the bank's offices in New York and Westchester, a source familiar with the matter told Reuters late Tuesday. READ MORE
The economy would be booming, if only businesses could find all the workers they need. Employers report 9.3 million unfilled jobs, the most on record. But millions of workers remain on the sidelines, holding back growth and delaying the return to a normal, pre-pandemic economy.
Republicans argue that generous jobless benefits are more appealing than a paycheck, and 25 states with Republican governors have cut off those payments ahead of schedule. But this argument is overblown and there are other important reasons some workers are hesitant to return. Understanding the factors slowing the return of jobs and workers helps determine when the mismatch is likely to end, and what comes next. READ MORE
It's been 15 long months since millions of workers left their offices and set up makeshift desks at home.
But as Covid-19 cases decline and more Americans get vaccinated, companies are beginning to establish protocols about how, and whether, office life will resume. READ MORE
Frank McCourt, the billionaire real estate mogul and former owner of the Los Angeles Dodgers, is pouring $100 million into an attempt to rebuild the foundations of social media. The effort, which he has loftily named Project Liberty, centers on the construction of a publicly accessible database of people’s social connections, allowing users to move records of their relationships between social media services instead of being locked into a few dominant apps. READ MORE
In the first season of the TV series Halt and Catch Fire, the young, rebellious developer Cameron has impressed with her coding abilities, but she is tired of her rigid superior and wants to prove she can lead the entire software team more efficiently: faster delivery, half the cost. She installs the text-based adventure cult game Colossal Cave Adventure on her colleagues' computers and organizes an old-fashioned LAN party for the developer team. The next day, she gathers the team and asks who completed the game by breaking the code. Some raise their hands. She nods and says that the developers who cheated can stay. The rest can leave. READ MORE
Startup investors make their names by identifying the potential for wild growth. Garry Tan also has the ability to spot the precise way a company is likely to die.
Tan is known for his investments in Coinbase and Instacart--and before co-founding and managing his early-stage venture capital fund, Initialized Capital, he was a partner at Y Combinator, where he advised more than 700 startups. READ MORE
Uber has reached a deal to become the sole owner of Latin American delivery startup Cornershop, just one year after acquiring a majority stake in the company. The ride-hailing giant said in a regulatory filing Monday that it will purchase the remaining 47% interest in Cornershop in exchange for 29 million shares. The transaction is expected to close in July.
Uber announced in 2019 plans to take a majority ownership in Cornershop. That transaction wasn’t completed until the third quarter of 2020 other than in Mexico, which closed in January 2021. This latest agreement, which was reached June 18 and reported Monday, will make Cornershop a wholly owned subsidiary of Uber. The deal is a logical next-step in the Uber-Cornershop relationship, a source familiar with the matter told TechCrunch. READ MORE
‘Stability’ and ‘certainty’ are terms that are unheard of these days: organisations are battling with a runaway list of challenges: from agile working, artificial intelligence, Brexit trade rules, Covid lockdowns, to cybersecurity, hybrid work models and online business. All these are reshaping the fundamentals.
In stark contrast, performance management systems have often stood still, assuming that objectives once set are good until the next annual review. Yet today’s goals must rapidly respond to ever-changing needs: this has revealed many dysfunctions in traditional performance management systems. READ MORE
Quitting your job is hot this summer. More Americans quit in May than any other month on record going back to the beginning of the century, according to the Bureau of Labor Statistics. For every 100 workers in hotels, restaurants, bars, and retailers, about five of them quit last month.
Low-wage workers aren’t the only ones eying the door. In May, more than 700,000 workers in the bureau’s mostly white-collar category of “professional and business services” left their job—the highest monthly number ever. Across all sectors and occupations, four in 10 employees now say they’ve considered peacing out of their current place of work. READ MORE
Desperate to deliver their goods, New York Food suppliers are hiring mercenary truckers from Alabama — and they’re putting them up in hotels in the Bronx because they can’t find local drivers.
It’s just the latest example of dire measures companies are being forced to take in response to a nationwide worker shortage that is plaguing the food industry. In addition to hiring workers from out of state and boarding them, businesses say they’re turning to middlemen to recruit them — a costly measure that’s also helping drive up prices for consumers, sources told The Post. READ MORE
The student loan debt crisis continues to plague millions of Americans, with the average borrower holding a balance of $38,792. By and large, this means that many college graduates enter the workforce with a negative net worth while facing immense hurdles when it comes to buying a home, building wealth or achieving other financial goals.
But some Americans have taken a bigger hit when it comes to student loan debt. In fact, a recent analysis from the American Association of University Women (AAUW) shows that women hold approximately two-thirds of all student loan debt in the United States. Not only that, but Black women in particular graduate with more undergraduate debt than other women. READ MORE
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