Thursday morning news drop
Companies Pay New Workers Higher Wages, and Current Employees Ask, ‘What About Us?’ As companies like Chipotle and Sodexo increase the pay floor for entry-level employees, they are also rethinking wages of long-time staffers and managers. U.S. wage growth among job switchers increased 5.8 percent since June 2020 according to the latest ADP Research Report while overall wage growth decelerated to 2.3 percent. (Wall Street Journal)
'Some just say I've had enough': Labour shortage holding back hospitality industry There’s a shortage of housekeeping staff across the industry, with many flocking to health care and seniors’ homes for more stable employment. And that means only 80% of hotel rooms will be available on weekends, and about 50% during the week. (Times Colonist)
Yes, bonds still belong in your portfolio, and this is why There has been a large distaste among investors for maintaining Treasury bond exposure in the asset mix. The argument typically points out the low level of yields, or how stretched valuations are (not that it’s stopped equity investors), or how much more money they can make in the stock market. Is investing really that simple? And are concentrated, non-diversifying strategies really the most efficient way to build returns? The answer is no. (Globe and Mail)
Canadian companies are issuing new bonds at a record pace Canadian companies are on track to sell a record volume of bonds in their own currency this year, taking advantage of low rates to refinance and fund post-pandemic investments. (Bloomberg)
Where’s All That Green Bond Money Really Going? Overall issuance is skyrocketing, but transparency is hard to come by. (Bloomberg)
Big investors are divesting from fossil fuels – should you? (Morningstar)
Europe Unveils Plan to Shift From Fossil Fuels, Setting Up Potential Trade Spats Europe Unveils Plan to Shift From Fossil Fuels, Setting Up Potential Trade Spats (New York Times)(New York Times)
“This Is Going to Change the World” As the new millennium dawned, a mysterious invention from a charismatic millionaire became a viral sensation—then went down in flames. Ever since, I’ve wondered: Was it all my fault? (Slate)
Feds are seizing cryptocurrency from criminals. Now they have to figure out what to do with it. The US government has hired a cryptocurrency company to store all the bitcoin it’s seizing. (Vox)
The cardboard real estate boom is here The packaging industry is growing—and so are the buildings needed to house it. (Fast Company)
China Century Missing In World’s Most-Valued Equity The dearth of Chinese enterprises at the top of the market capitalization rankings is a referendum on the world’s second-largest economy. (Bloomberg)
Yesterday’s Wars Didn’t Prepare the Pentagon for Tomorrow’s China The U.S. military’s long-sought pivot to Asia is slow, uneven, and beset by difficulties. (Businessweek)
Where There’s Smoke, There’s a Fire Lookout Trina Moyles’s new memoir documents gruelling summers scanning for wildfires in northern Alberta. An excerpt. (Tyee)
