Economy & Business

Business news

Productivity is anemic, so are wages

16 hours ago

The Department of Labor reported on February 4 that labor productivity rose at a 0.3 percent rate year-over-year in 2015. Productivity fell 3.0 percent in the fourth quarter of 2015, compared to the previous quarter.

“You’re seeing productivity growth rates less than 1-fourth of what we were seeing in the 70 years before the Great Recession,” said economist Patrick Newport at IHS Global Insight.

On Thursday, Shell released its full year report that showed an 80 percent drop in earnings from 2014 to 2015. The company's earnings fell steeply from $19 billion in 2014 to $3.84 billion in 2015.

Members of Congress at a Thursday hearing wrestled with questions about why the prices of some old drugs are rising so fast.

Much of the session held by the House Oversight and Government Reform Committee was dominated by Martin Shkreli, the bad-boy former CEO of Turing Pharmaceuticals who earned notoriety by raising the price 5,000 percent for the drug Daraprim, a treatment for toxoplasmosis.

For the first few minutes of his appearance on Capitol Hill Thursday morning, pharma bad boy Martin Shkreli was the soul of decorum.

He sat placidly, hands clasped, a polite smile fixed upon his face, as members of the House Oversight and Government Reform Committee fired questions at him.

And to every question he gave the same answer:

Morocco has officially turned on a massive solar power plant in the Sahara Desert, kicking off the first phase of a planned project to provide renewable energy to more than a million Moroccans.

The Noor I power plant is located near the town of Ouarzazate, on the edge of the Sahara. It's capable of generating up to 160 megawatts of power and covers thousands of acres of desert, making the first stage alone one of the world's biggest solar thermal power plants.

The British car show Top Gear will have a fresh central cast when its 23rd season airs in May – but many TV fans will see a familiar face on the show, which announced Thursday that it has hired Matt LeBlanc, the former Friends star, as a new co-host.

So, you know that presidential election you've been hearing so much about?

Well, you're not alone.

A new survey conducted last month found there's a lot of interest in the presidential campaign; nine in 10 American adults had learned something about the election in the past week.

The rise of the do-it-all 'hybrid' job

Feb 4, 2016
redo%20.jpg
Sally Herships

It used to be graphic designers designed graphics, copy writers wrote copy, and that was that. But the times, they are a’changing. An analysis from Bentley University calls 2016 the year of the “hybrid job” — when skills get cross-pollinated between industries and workers are expected to do more.

3026431936_33cb334dcc_o.jpg
Mark Garrison

Nils Boese is about to describe in breathtaking detail the drink in his hand, a European liqueur. His face tense with concentration, he slowly sniffs, sips and then launches a long and lyrical description of its complexities, offering tasting notes full of herbs, spices, sugar and fruit. He goes on for several minutes without pausing. It's a bit much, but not totally surprising, as he is a very serious German bartender visiting a very serious New York bar.

If you're a fan of trivia, you might want to remember the name Dree Hemingway. She's the first Playboy Playmate to be featured in the magazine's new life without full-frontal nudity.

Hemingway — Miss March 2016 — is the great-granddaughter of Ernest Hemingway. According to her bio sheet on Playboy's website, she's 28, drinks only tequila and is a fan of the band alt-J. Her mother, Mariel Hemingway, was on the cover of Playboy in 1982.

Pages