Hiring cooled off in July, China threatens new tariffs, and more top news
The news professionals are talking about now, curated by LinkedIn’s editors. Join the conversation on today's stories in the comments.
The U.S. added fewer jobs than expected in July, but “the labor market remains firmly in expansion mode.” The nation added 157,000 jobs last month — the smallest increase since March and below an anticipated 190,000 — but the unemployment rate dropped to back to 3.9%. Despite the slight slowdown, the data supports this week’s decision by the Federal Reserve to upgrade its view of the economy to “strong.” ? Here’s what people are saying.
China is prepared to hit the U.S. with new tariffs on $60 billion in goods. The duties would range from 5% to 25%, Beijing’s Commerce Ministry said in a statement, and would be imposed if the U.S. decides to up the tax on $200 billion in Chinese goods from 10% to 25%. “The implementation date of the taxation measures will be subject to the actions of the US,” according to China’s release. ? Here’s what people are saying.
Apple became America’s first publicly traded company to be valued at $1 trillion. Analysts had been waiting for Apple to cross the threshold since it beat Wall Street earnings expectations earlier this week. CEO Tim Cook has overseen a near-quadrupling in value of the company’s shares since he took the helm in August 2011, when they traded at a split-adjusted $54 a share. ? Here’s what people are saying.
Brookstone filed for bankruptcy protection and said it would close its 101 mall-based stores. The specialty retailer, known for selling massage-chairs and a variety of goods, said that it would sell its 35 airport stores but keep them open during proceedings with a $30 million loan. Brookstone also filed for bankruptcy protection in 2014, when it was sold to a group of Chinese buyers.? Here’s what people are saying.
Sonos celebrated its IPO by giving the Nasdaq’s bell a new ring. The speaker company teamed up with the exchange to engineer a new sound; the resulting ring is made of roughly 100 sounds from various instruments, including chains, wrenches, drumsticks and Tibetan singing bowls. Sonos stock surged after an initial slump, but the firm faces ongoing challenges as heavyweight rivals (such as Amazon and Google) push into the smart-speaker space. ? Here’s what people are saying.
Idea of the Day: If your current role doesn’t involve at least a few things you love, then you should look at ways to “sculpt your job” so that you’re satisfying your passions, says leadership expert Chester Elton.
“The simple but profound truth is that when our jobs give us the opportunity to do more of the kinds of things that satisfy our key motivations, we are going to be happier and more engaged in our work.”
What's your take on today’s stories? Share your thoughts in the comments.
— Carmel Melouney & Katie Carroll
From earlier: U.S. wants to roll back fuel standards / TSA mulls small airport security rule
Student at Ghanshyam patel
6 年Mare US
Communication and Coordination
6 年Not to discredit the effects of some (not all) tariffs.? However, it is difficult to determine that an increase in tariff actually directly affected a business to lose so much. Not to be negative or cruel, but looking at it rationally, this gives us a wake up call on management philosophy. For some it may have been a good reason to downsize. In terms of business management, especially using imports, it is imperative that one keeps multiple sources for quality assurance, competitive pricing, logistic disruption, etc.? Should a tariff become a problem with one source, then there could have been another source. Or there could have been a heart to heart negotiation with the supplier, even for an interim period. In business terms, one or two month's advance notice could have initiated such preemptive action. It also illustrates the "narrow" scope of management perspective and reliance on past and current trend without foresight to plan for options in the ever changing market place. It may also reflect the "shallow" relationship with their customers. It may reflect the lack foresight to keep proper reserves for disasters and emergencies. Instead of placing blame and complaining, I would like to see more offers of meaningful ideas in dealing with tariffs and other issues forced upon us and are beyond our immediate control.