Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day.
The economy and markets are “under surveillance”. Bloomberg Surveillance, covering the latest news in finance, economics and investments.
If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway.
New Hedge Fund Soars 163% Betting Everything Is Going Down
Foreign Investors Dump UK Gilts at Record Rate Despite Austerity
Europe Past Peak Inflation Won’t Throw ECB Off Rate-Hike Path
Dubai Rolls Out $8.7 Trillion Economic Plan for Next Decade
Sierra Leone Becomes First in Africa to Hike Rate This Year
China’s CATL Extends Lead as World’s Top EV Battery Maker
Tesla’s Share Turnover Beats Big Tech Peers in New Year Selloff
India Court Refuses Immediate Relief to Google on $162 Million Penalty
Salesforce Plans to Cut 10% of Jobs After Customers Pull Back
Apple’s Stock Is Losing Its Shine After an Ugly Month of December
UK Set to Withdraw Plan to Privatize State-Owned Channel 4
Liz Truss Warns Rishi Sunak Not to Shelve Childcare Reform Plans
Manhattan Home Prices Slip 5.5% in First Decline Since Mid-2020
Hedge Fund Debuts in Biggest Launch Led by a Woman
Novak Djokovic to Miss Indian Wells and Miami Open Over US Vaccine Requirement
UFC President Dana White Seen on Video Slapping His Wife
Want to Succeed on Wall Street? Learn Poker, Not Economics
Gradually Then Suddenly, New Questions Confront China
Five Steps to Stop the Nosedive at Credit Suisse
Building With Sustainable Wood Is Key to Greener Cities
How McDonald’s Won Russia—and Then Lost It All
There Has Never Been a Better Time for Billionaire Schadenfreude
Union Boss Says UK Rail Strike Talks to Resume Next Week
Abortion Pill Access to Ease With First FDA-Certified Pharmacy
Green Lending Tops Fossil Fuel as Big Oil Gets Cash Elsewhere
France Prepares Green Industry Bill Echoing US Climate Law
The Cities Keeping Their Car-Free Spaces
Why Child Care Centers in New York City Are Shutting Their Doors
How Jersey City Got to Zero Traffic Deaths on Its Streets
What’s to Become of Miami’s “Crypto Hub” Status? (Podcast)
Indonesia to Start Crypto Exchange Ahead of Regulatory Shift
FTX’s Collapse Blurs the Future of Blockchain Gaming (Podcast)
Companies try to figure out fair pay amid an uptick in relocations and a tight labor market.
Matthew Boyle and
Olivia Rockeman
Subscriber Benefit
Subscribe
Sign In
The pandemic untethered millions of people from their big-city offices, allowing them to move to smaller communities where they could work from home. But the mass migration has become a nightmare for companies, which are struggling to find equitable ways to compensate employees who have the upper hand as remote-friendly roles proliferate in a tight labor market. “It’s one of the hardest business problems to solve right now,” says Daniel Yanisse, co-founder and chief executive officer of Checkr Inc., a provider of background checks for hiring based in the Bay Area. About 40% of Checkr’s staff live 50 miles or more from one of its six offices. “We’ve fully embraced remote work, but how do you adapt to all these locations?”
Traditionally, big companies based pay on a set of common guidelines including the cost of hiring skilled labor in a particular region. They then lowered salaries as much as 25% for workers who relocated from, say, San Francisco to Boise, Idaho. That made sense until March 2020, when coronavirus-fearing employees fled hither and yon and came to enjoy their remote-work lifestyle.
