A staggering number of Brits either cannot work for health reasons or aren’t working hard enough compared with their peers elsewhere in Europe and America. The rise of worklessness among youth, coupled with trailing productivity, promises to be among the biggest challenges facing the U.K. workforce. Productivity growth in the U.K. has flatlined since the Global Financial Crisis and has now been reset to levels of growth not seen since the 1850s, a new report published by the Institute for Fiscal Studies (IFS) and Citi highlighted. That also puts the country far behind its counterparts in Europe and America, which have advanced faster despite setbacks such as COVID-19. Read more: https://lnkd.in/eXGKfubE
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Fortune reposted this
I had an energizing conversation this week at the #FortuneImpact Initiative conference with Exelon CEO Calvin Butler, moderated by Indrani Sen. Together, we discussed strategies for balancing sustainability with affordability in the food industry. Cost-effective, climate-smart agriculture is possible, and it’s crucial — both for the planet and for future generations.
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Brian Moynihan, who turned 65 this week, has shown no indication that he will be slowing down in the near future. The Bank of America veteran has been at the helm of the company for nearly 14 years, a tenure that’s seen him steer the second-largest bank by total assets in the U.S through the tail end of the 2008 financial crisis, COVID-19, and a post-pandemic inflation surge. “You learn the most from tough times,” Moynihan told Bloomberg in 2016. “You learn how to really motivate people, keep people on task, and support people when they feel beaten up at every turn.” Read more: https://lnkd.in/etVAj7WT
Bank of America CEO says endless curiosity is key to leadership success
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“I’m happy to share that I’m starting a new position as Inmate at FCI Cumberland!” Ever since a federal judge sentenced Ryan Salame to 7.5 years in prison in May for his role in the collapse of the failed crypto exchange FTX, the former executive has assumed a defiant tone, sparring with critics, prosecutors, and even his own lawyers. But Thursday, on the eve of his departure to a federal correction center, Salame poked fun at his bleak position. Read more: https://lnkd.in/e3gUR3wJ
Former FTX lieutenant Ryan Salame updated his LinkedIn for his new role—federal inmate
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Only a handful of scientists on earth ever earn the distinction of winning a Nobel Prize, a once-in-a-lifetime achievement forever etched into the annals of history. trib.al/2KqtcnA This made it that much more extraordinary that Geoffrey Hinton spoke for barely more than a minute before trashing the CEO of OpenAI during an ad hoc press briefing convened in honor of his award. Hinton went on to acknowledge the role his students at the University of Toronto have played over the years helping realize his life’s work. “They’ve gone on to do great things,” he said on Tuesday. “I’m particularly proud of the fact that one of my students fired Sam Altman. And I think I better leave it there.” Read more here: trib.al/2KqtcnA
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“There are no steering wheels or pedals in the car. So I hope this goes well; we’ll find out." Tesla CEO Elon Musk unveiled his new robotaxi, and, in true Tesla fashion, the much anticipated autonomous vehicle rolled in nearly an hour late—right on schedule for a product that’s been delayed time and time again. But fans didn’t mind, as Musk delivered not just the long-awaited vehicle but also an AI robot named Optimus that can bartend for you and a driverless robovan that can shuttle sports teams to games. Musk rolled up in the new Cybercab model, with an astronaut ushering him into the vehicle and aerial footage capturing his autonomous trip through the movie studio back lot and to the event stage. Read more: https://lnkd.in/ekkC9dFq
Elon Musk unveils Tesla’s Cybercab—no steering wheel, no pedals
fortune.com
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How does Atlanta's mayor prepare for increasingly strong storms spurred on by warmer waters in the Gulf of Mexico? Mayor Andre Dickens' playbook includes cleaning out city storm drains, building a good communication network, and spreading awareness among residents to prepare themselves as best they can. “Don’t have your birth certificate or Social Security card in your basement,” he told #FortuneImpact. “You have to tell people these things.” Read more: https://lnkd.in/e-pA2erS
'Don’t take any storm for granted': Atlanta’s mayor reveals how he helps prepare the city for an era of superstorms
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The pushback against DEI initiatives reached a boiling point in the U.S. this year, and programs meant to foster equity and inclusion in the workforce have been caught in an ongoing political backlash. They still have a place in corporate America, some business leaders and government officials say—they just may need to go by a different name. Less important are the exact letters used than the intention behind them, said Debbie Dyson, CEO of OneTen, a coalition of more than 60 employers that aims to create one million careers for Black workers and others without four-year degrees, at #FortuneImpact. “The letters have sort of changed around, whether you take out an E, you change it to a B, you add an A. It’s like alphabet soup,” said Dyson. “I would really rather us have a conversation about what we are trying to do around opening up opportunities in a more balanced matter.” Read more: https://lnkd.in/eytyHtbJ
Has DEI become 'alphabet soup'? Business and government leaders debate how corporate America should move forward
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Tennis superstar Rafael Nadal, who announced his retirement on Thursday, will leave the sport as its second-highest earner of career prize money with more than $130 million. The 22-time Grand Slam champion only trails Novak Djokovic, who has so far amassed $184 million in his career, according to the ATP Tour’s official website. Read more: https://lnkd.in/ebij7Gkv
Rafael Nadal ends tennis career as second highest earner in ATP
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“The act of combining imagination with action.” trib.al/IKgGDHt We asked the following business leaders at the Fortune Impact Initiative conference in Atlanta, Georgia, to define the word "impact": ➡ Whole Foods Market CEO Jason Buechel ➡ Held v. State of Montana Youth Plaintiff Grace S. ➡ Pacific Gas and Electric Company Executive Vice President of Corporate Affairs and Chief Sustainability Officer Carla Peterman ➡ Exelon President and CEO Calvin Butler ➡ Rewiring America Senior Counsel Stacey Abrams ➡ Slutty Vegan Founder and CEO Pinky Cole ➡ Our Children's Trust General Counsel and Managing Attorney Mat dos Santos ➡ U.S. State Department Chief Diversity and Inclusion Officer Zakiya Carr Johnson Learn more about #FortuneImpact here: trib.al/IKgGDHt