What we’re reading (8/31)
“Fed Expects To Launch Long-Awaited Faster Payments System By 2023” (forkast). “The new payments system will allow faster payments of bills, paychecks and other transfers around-the-clock instead of days. The U.S. Federal Reserve expects to launch the payments system between May and July of 2023, after a testing phase beginning next month.”
“Oil Posts Third Straight Month Of Declines” (Wall Street Journal). “Benchmark U.S. oil futures ended Wednesday at $89.55 a barrel, down from Monday’s closing price of $97.01. Brent crude, the main international price, fell 12% in August to $96.49 a barrel.”
“How Quitting a Job Changed My Relationships” (New York Times). “Faced with choosing between their careers and their loved ones, many opted to put their professional dreams on hold after enduring the stresses brought on by the pandemic.”
“How Unions Are Winning Again, In 4 Charts” (Vox). “Workers are organizing at some of the most well-known companies in America and in industries previously thought un-unionizable. They’re also doing so against the tide of a decades-long decline in union membership, which led to eviscerated benefits and wages that haven’t kept pace with the cost of living. Lately, the news has been filled with stories of everyone from baristas to warehouse workers voting for unions and bargaining for contracts — a trend that makes it look like unions are at last on the rise again.”
“Meet The Newest Member Of Morgan Stanley’s Block-Trading Desk” (Dealbreaker). “It must have been a rude surprise for those manning Morgan Stanley’s block-trading desk (and, of course, their customers) to learn that their conversations were being monitored, retrospectively, by the Justice Department and Securities and Exchange Commission. (Although exactly when that surprise came is open to interpretation.) Seems the Feds had gotten it into their heads that block-trading, as much a cornerstone of what investment banks do as anything, is just a big old square fig leaf for a whole lot of insider-trading.”
