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Shareholders have gotten better at getting anti-ESG proposals into company proxy statements for a vote but they remain widely unpopular, two analyses of the 2024 proxy season show.
Between January 1 and June 30, shareholders filed 108 proposals that in some way reject environmental, social and governance goals in the boardroom, an analysis by The Conference Board shows. READ MORE
In November 2022, OpenAI launched ChatGPT, marking a new era in artificial intelligence. Since then, corporate investment in AI has soared, with businesses aiming to boost productivity. According to Gallup’s latest study on AI adoption, 93% of Fortune 500 CHROs say their organization has begun using AI tools and technologies to improve business practices.
However, most workers remain unaware of these efforts. Only a third (33%) of all U.S. employees say their organization has begun integrating AI into their business practices, with the highest percentage in white-collar industries (44%). READ MORE
The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity.
X no longer trades publicly after Musk shelled out $44 billion to take it private in October 2022.
However, Fidelity discloses what it believes is the value of its shares of X, and those estimates serve as a closely watched barometer for the overall health of the company. READ MORE
Following the death of 60-year-old Wells Fargo employee Denise Prudhomme, who was found dead days after clocking into her Arizona office in August, one union didn't mince words when it came to the company.
In the statement, obtained by The Arizona Republic and NBC affiliate KPNX, a union that represents Wells Fargo workers said, "We are saddened and outraged by the devastating tragedy and loss of our coworker, Denise Prudhomme, who worked as a Business Execution Consultant in Corporate Banking in Tempe, Arizona." READ MORE
Chief executives are leaving their posts at a higher rate than last year, when CEO departures hit an all-time high.
The latest CEO Turnover Report from coaching firm Challenger, Gray & Christmas found that 1,450 CEOs had announced their exits as of the end of August, marking the highest-year-to-date total on record. That is up 15% from the 1,261 departures recorded by the same time period last year, which was the previous year-to-date record. READ MORE
The modern workplace is getting harder and harder to navigate. Between mass layoffs, return-to-office mandates, long hours, and the constant barrage of Slack pings and emails, it’s no wonder workers love to hate their jobs.
But if you’ve survived the latest org “restructuring,” with its “realigning,” “redefining,” and “downsizing,” you’ll probably agree that one of the most annoying things about working today is all the corporate jargon. Simply put, telling your boss you’ll “circle back” or “put a pin in it” is cringe. READ MORE
Sometimes, diversity, equity and inclusion work is a matter of compliance. Sometimes, it’s a matter of building a culture of inclusion and belonging. Four years out from the summer of anti-racism and unconscious bias trainings, employers are still grappling with the best approach to DEI.
The Society for Human Resource Management eliminated “equity” from its acronym — although a SHRM staffer previously told HR Dive that conversations about the program name are a “distraction” from inclusion work. READ MORE
New York City released its first wall of shame for employers in the Big Apple that includes the likes of Chipotle, Uber, Amazon, alongside plenty of other big names.
New York City Comptroller Brad Lander released the list in early September, along with a dashboard that compiles employers within New York City that have violated some type of labor law. This encompasses everything from harassment and wage theft to union busting efforts and offering unsafe working conditions. READ MORE
There's bad news for some remote workers who have gotten comfortable with their work from home arrangements: The end might be near.
More than two-thirds of professional companies in America said their new job ads will no longer have the option of fully remote work this year, according to a survey of 700 companies by international recruitment consultancy Robert Walters. READ MORE
OpenAI has unveiled a new artificial intelligence model that it says can “reason” and solve harder problems in science, coding and math than its predecessors.
The model, the first in a series called OpenAI o1, was released Thursday as a preview, with the firm saying it expects regular updates and improvements. It will gradually become available to most ChatGPT users. READ MORE
Job-hunting in the current labor market can be a daunting prospect, especially as other candidates pursue the same openings.
Competition has ramped up this year as LinkedIn job listings in all 50 states have seen increases in the number of candidates seeking consideration for roles, Resume.io reported in a new study.
Uber announced Friday it is expanding its partnership with Alphabet’s Waymo to offer robotaxi rides in Austin, Texas, and Atlanta beginning in early 2025. Shares of Uber jumped 5% on the news while Alphabet rose about 1%.
Uber riders in those cities can be matched with a driverless Waymo car for some trips, according to the companies. The rides will only be available through Uber’s app, unlike in San Francisco and Los Angeles where riders book through the Waymo app. A Waymo spokesperson said it had no plans to partner with Uber in San Francisco and Los Angeles. READ MORE
Elon Musk is nearly as inescapable as Donald Trump. The owner of SpaceX and Tesla and the world’s richest man, Musk makes headlines weekly. But these days, it’s more for X, where he stirs up controversy by seemingly amplifying right-wing views and reposting comments suggesting that women should not have the right to vote (only “high status males” and some others should). Musk also recently hosted an interview with Trump that was filled with falsehoods. Last week, Trump proposed a government efficiency commission headed by Musk. READ MORE
At around 9:00 a.m. on October 27, 2022, Parag Agrawal, the CEO of Twitter, summoned his leadership team into one of the large glass-doored conference rooms that lined the suite of offices on the seventh floor of Twitter’s San Francisco headquarters. After months of tension and worry, there was a grim clarity in the air—Musk was finally completing the acquisition.
Twitter’s top-ranking employees crammed into the room. Agrawal’s deputies were there, as well as vice presidents from finance, product, human resources, and sales. Even more executives dialed in on video conference from New York and around the globe, their faces tiling the screen at the end of the room. READ MORE
Apple and Google were both handed separate defeats Tuesday in their defenses against the European Union's efforts to rein in the dominance of major tech firms.
The EU's top court, the European Court of Justice, sided with the bloc's executive arm, the European Commission (EC), in a case that requires Apple to pay some $14 billion in back taxes to Ireland. The high court also upheld a $2.7 billion fine against Google for alleged antitrust violations. READ MORE
Tesla has been working on its Optimus robots for years, infamously, debuting its project in 2021 with a person dancing in a costume. Musk has said the humanoid robots will enter limited production for internal usage next year.
By the end of 2024, he expects more than 1,000 robots will be working at Tesla. Two robots are already on the factory floor, although Tesla has not said what duties they perform. READ MORE
The home of the Golden State Warriors was packed on Tuesday evening this week, but it wasn’t to watch Steph Curry. Thousands of fans gathered at the Chase Center in downtown San Francisco to watch one of Silicon Valley’s biggest ballers, Meta CEO Mark Zuckerberg, sit down for a conversation with the hosts of the Acquired podcast, David Rosenthal and Ben Gilbert.
Shortly after hopping onstage, Zuckerberg joked that he might need to schedule his next appearance in order to apologize for whatever he was about to say. After a beat, he added that he was just kidding and that, in fact, his days of apologizing are over. READ MORE
Tax policy has taken on an outsized role in this year’s presidential campaign and was mentioned repeatedly in the recent presidential debate. The prominence of tax policy makes sense. In the first year of the next administration, lawmakers will have to address the automatic expiration of almost all of the 2017 Tax Cuts and Jobs Act.
In addition to addressing existing policy expirations, both presidential candidates have proposed trillions of dollars of new and expanded special interest tax breaks that undermine the simplifications made in 2017 and make the 2025 fiscal cliff even more daunting. READ MORE
In his first week on the job, 50-year-old star CEO Brian Niccol pledged to restore Starbucks to its former glory when the ubiquitous coffee haunt served as a second living room for many of its patrons.
The turnaround wizard who revived the fortunes of Chipotle during his more than six-year stint at the fast-casual Tex-Mex chain said the 39,000-plus Starbucks stores around the world needed to return to their roots, offering tailor-made, high-quality coffee that consumers can enjoy on the premises. READ MORE
In poll after poll, Americans have indicated the economy is their top concern as they prepare to cast votes this election.
Dealing with high inflation for years will do that to you. Although inflation has cooled significantly since it peaked at a 40-year high in 2022, Americans are paying around 20% more for goods and services now compared to before the pandemic, according to Consumer Price Index data. READ MORE