You start off expecting to be amused by the ridiculously overburdened bike, but end up saddened by that overburdened mum.
A migrant worker’s daily circus-like balancing act is a surreal reflection of China’s economy
As China shifted from a small-farm economy to an industrial powerhouse over the past generation, there’s been an enormous demographic shift, with some 282 million migrant labourers splitting their time between cities and their rural homes. For Wo Guo Jie, who makes her living in Shanghai collecting styrofoam boxes from markets and reselling them to a seafood wholesale market, this transformation has meant spending as many as three years at a time away from her family farm, where her children sometimes barely recognise her when she returns.
Here’s one of several articles about Capita’s profit warning announced today:
Capita shares plunge 35% after outsourcing giant announces shock profit warning and rights issue
New chief executive Jonathan Lewis, who took up the role on 1 December, said “significant change” was needed to get Capita back on track. He said an “immediate priority” was to strengthen the group’s balance sheet, with plans to raise as much as £700m in a rights issue, as well as slashing costs after finding “significant scope” for savings and aims to sell off unprofitable businesses.
Some have the shares dropping by as much as 45%, but this headline caught my eye:
Capita collapse could create bigger headache than Carillion’s demise
A potential collapse of Capita could create an even more of a headache for the public sector than Carillion since it is the biggest supplier of local government services in the UK, according to Tussell data. “If Capita were to fail the ensuing political fallout would make Carillion look like a tea party,” said Michael Hewson, chief market analyst at CMC Markets.
Too big to fail, surely?
I tried to explain to my better half what Bitcoin and the blockchain were all about. My explanation was muddled, to say the least. Here are some articles that I need to re-read, if any of it’s going to sink in.
Bitcoin and cryptocurrencies – what digital money really means for our future
[T]his speculative bubble could end with a crash so severe that it destroys faith in the entire sector, driving the investors out, bankrupting the miners who’ve spent thousands or millions on single-purpose hardware that requires a high bitcoin price to turn a profit, and leaving cryptocurrencies as a technological dead-end alongside cold fusion and jetpacks. But maybe things will continue as they have done for the past five years. Cryptocurrencies’ actual use stays stable, mostly illegal, largely underground, and completely disconnected from a market price that fluctuates wildly based on the whims of a class of financial speculators with little link to the ground truth. Instability, it turns out, is an oddly stable and predictable state of affairs.
Kodak, the blockchain and cryptocurrency: how Kodak is tapping into technology
Kodak’s platform takes the whole photography and imaging industry to a new level with the features of distributed ledger technology like encryption, decentralization, immutability, transparency, and security being utilized to create a digital ledger of ‘ownership rights’ for photographers. The digital ledger will secure the work of photographers by registering work and then allowing them to license the same for use (buy/sell) within the platform. KODAKCoin will be the currency to operate on the platform and will allow participating photographers, both professional and amateur, to receive payment for licensed work almost instantly via Smart Contracts.
economics technology photography
Bitcoin’s energy usage is huge – we can’t afford to ignore it
The economic outcome of all of this is laid bare in a Credit Suisse briefing note published on Tuesday: the network as a whole will reinvest almost all the bitcoin paid out as mining rewards back into its electricity consumption. (Credit Suisse’s ballpark figure assumes that 80% of the expenses of bitcoin miners are spent on electricity).
Blockchain’s broken promises
Boosters of blockchain technology compare its early days to the early days of the Internet. But whereas the Internet quickly gave rise to email, the World Wide Web, and millions of commercial ventures, blockchain’s only application – cryptocurrencies such as Bitcoin – does not even fulfill its stated purpose.
Steps from the government, as well as research from the Co-op Group.
May appoints minister to tackle loneliness issues raised by Jo Cox
“I want to confront this challenge for our society and for all of us to take action to address the loneliness endured by the elderly, by carers, by those who have lost loved ones – people who have no one to talk to or share their thoughts and experiences with.” May paid tribute to Cox’s work, saying she hoped the initiative would aim “to see that, in Jo’s memory, we bring an end to the acceptance of loneliness for good”.
Loneliness is harming our society. Your kindness is the best cure
The commission will be outlining its thinking at the end of the year with requests for government and business. But we’ll also be explaining how we all have a role to play. Jo knew this. She said that tackling loneliness is “something many of us could easily help with – whether looking in on a neighbour, visiting an elderly relative or making that call or visit we’ve been promising to a friend”.
What loneliness costs UK employers
Our latest research shows 4 key ways that loneliness is a financial cost to employers. 1. Sickness absence associated with ill health effects of loneliness costs £20 million. 2. Lost working days caring for someone suffering from the ill health effects of loneliness costs £220 million. 3. Reduced productivity costs related to lower wellbeing from loneliness are £665 million. 4. Costs associated with increased voluntary staff ‘turnover’ are £1.62 billion.
A thought-provoking read, in the style of Freakonomics, about pay structures and working conditions within higher education. The similarities to drug gangs catches the eye, of course, but it’s interesting to read how this compares across countries.
How Academia resembles a drug gang
Academic systems rely on the existence of a supply of “outsiders” ready to forgo wages and employment security in exchange for the prospect of uncertain security, prestige, freedom and reasonably high salaries that tenured positions entail. Drawing on data from the US, Germany and the UK, Alexandre Afonso looks at how the academic job market is structured in many respects like a drug gang, with an expanding mass of outsiders and a shrinking core of insiders.