What we’re reading (6/13)
“Inflation Rose At A 4% Annual Rate In May, The Lowest In 2 Years” (CNBC). “The inflation rate cooled in May to its lowest annual rate in more than two years, likely taking pressure off the Federal Reserve to continue raising interest rates, the Labor Department reported Tuesday.”
“Goldman Sachs Is At War With Itself” (Wall Street Journal). “Blankfein, holding court at the hotel bar before a gathering of Goldman partners, groused about his successor, according to people familiar with the matter. David Solomon, Blankfein said, was spending too much time away from his day job, jetting around on Goldman’s private planes and DJing at nightclubs and festivals.”
“Google’s Return-To-Office Crackdown Gets Backlash From Some Employees: ‘Check My Work, Not My Badge’” (CNBC). “Based on CNBC’s discussions with some employees and posts to an internal site called Memegen, Google faces growing concern among staffers that management is overreaching in its oversight of physical attendance. Staffers say they’re being treated like schoolchildren. There’s also increased uncertainty about what the future holds for people who moved to different cities and states after they were cleared to work from remote locations.”
“Record Number Of Media Job Cuts So Far In 2023” (Axios). “The media industry has announced at least 17,436 job cuts so far this year, marking the highest year-to-date level of cuts on record, according to a new report from Challenger, Gray & Christmas.”
“Their Crypto Company Collapsed. They Went to Bali.” (New York Times). “Not long after his cryptocurrency hedge fund collapsed last year, spawning a market meltdown that devastated the industry, Kyle Davies got on a plane and left his troubles behind. He flew to Bali. As his company was liquidated and law enforcement authorities opened investigations on two continents, Mr. Davies spent his days painting in cafes and reading Hemingway on the beach.”
