Creditors, especially banks and credit card issuers, are unbelievably sensitive to whether you pay your bills on time. So is your credit score. One slip-up could cost you dearly if that means you lose your low- or no-interest rate, or a late payment results in a big late fee. Late payments when reported to the…
More Than 40% of Farm Operators to Retire by 2033: Report
A new report says more than 40 per cent of farm operators will retire over the next decade, leaving Canada with a shortage. The report from the Royal Bank of Canada, Boston Consulting Group Centre for Canada’s Future and Arrell Food Institute at the University of Guelph says the country will be short 24,000 general…
Walmart Sees Sustained Pressure From Inflation as It Begins Automation Push
Walmart said on Wednesday that inflation would continue to pressure its business this year, and that it would slow its pace of hiring as it builds out automation technology. “We believe, over time, the number of associates will grow, but at a slower pace than in the past as we complement people growth with technology…
Walmart Aims for Automation in 65 Percent of Its Stores by 2026
Walmart Inc. said in a press release on Tuesday that it aims for 65 percent of its stores to be served by automation by 2026. The letter said that an “omnichannel” network will be used, which includes greater use of data, more intelligent software, and automation. “Walmart showcased its supply-chain innovation Tuesday at its Brooksville,…
Raising the Minimum Wage Leads to Job Cuts, Accelerates Automation
Commentary Proponents of a higher minimum wage believe it would reduce poverty, while economists believe it would reduce employment. Meanwhile, rising labor costs are driving automation to make workers redundant. On Aug. 16, President Joe Biden signed the $700 billion-plus Inflation Reduction Act. Some experts believe it will not help curb inflation, whereas others believe it will…
Reshoring, Robotics, and Roller Disco
August 24, 2022
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Commentary In the 1970s, with America’s market opening to China engineered by those peerless (not) ethicists and strategists, Richard Nixon and Henry Kissinger, China became the “world’s factory” because many of America’s own factories moved there for the cheap and compliant workforce. Now folks are starting to realize—in part due to the pandemic, evidence of…
UK Train Strike Comes Amid Push for More Automated Workforce
Network Rail says “trade union intransigence” is blocking the modernisation of the railways and says the 1,850 job losses it is proposing could be managed through early retirements. A three-day national train strike by the National Union of Rail, Maritime, and Transport Workers (RMT) trade union is causing chaos for commuters, and much of the country…
Tufin Shares Soar After It Agrees for Takeover at 44 Percent Premium
Software-focused investment firm Turn/River Capital agreed to acquire Tufin Software Technologies Ltd in an all-cash transaction that values Tufin at $570 million. Tufin is a company pioneering a policy-centric approach to security and IT operations. Tufin shareholders will receive $13.00 per share in cash, representing a premium of 44 percent over Tufin’s closing share price on April…
From Automation to Retention: How Businesses Are Adjusting to Labor Shortages
As labor shortages intensify amid The Great Resignation, companies are making several adjustments to current market conditions. In December, job openings totaled 10.925 million, topping the market estimate of 10.3 million, according to the U.S. Bureau of Labor Statistics (BLS). The number of employment quits eased from the record high in November, coming in at…
Do Robots Create or Kill Jobs?
News Analysis Despite a decades-long drumbeat among some fields of thought that robotics will steal jobs from workers, a 2021 study from Management Science points to the opposite—to a certain extent. Investments in robotics predicts improved performance at companies, according to the researchers. This can lead to an increase in demand for the firm’s products…
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