Societe General reportedly plans to cut thousands of jobs at investment bank

French bank Societe General is planning to cut thousands of jobs at its global banking and investor solutions unit, as it looks to offset cost pressure from regulation, Bloomberg reported.
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Hickey Freeman to Add Jobs at Rochester, N.Y., Factory

Hickey Freeman is staffing up in Rochester, N.Y.
New York Gov. Andrew M. Cuomo said Wednesday that Luxury Men’s Apparel Group, the parent of Hickey Freeman, has committed to creating up to 80 jobs over the next three years at its factory in the upstate city. LMAG has also said it would retain the current 420 positions in the factory. 
“Hickey Freeman has been a fixture of Rochester’s business and manufacturing community for generations, and this investment will ensure it remains part of the city’s economic fabric for decades to come,” Cuomo said. “We are proud to support the expansion of this iconic Rochester company, creating quality jobs for hardworking residents and moving the Finger Lakes forward.”
The announcement was made in Rochester by Lt. Gov. Kathy Hochul. In exchange for the investment, New York State will provide $ 4 million through a Finger Lakes Forward Upstate Revitalization Initiative convertible loan. The factory is in the process of upgrading its facility, a project that is expected to be completed by the end of this year and cost $ 8.2 million. 
Stephen Granovsky, chairman and chief executive officer of LMAG, said, “This year Hickey Freeman turns 120…we intend to re-engineer this factory enabling our clothing to be manufactured for

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Artificial intelligence is coming for these types of jobs

Robots aren’t replacing everyone, but a quarter of US jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. Thursday’s report from the Washington think tank says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least 70 percent…
Technology News & Reviews | New York Post

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These are the jobs that get the most swipes right on dating sites

Apparently.

relationship challenge, she's all that

Dating isn’t exactly a walk in the park these days. We’re getting all too used to cushioning, ghosting, stashing and sneating, and the dating trends of 2019 don’t exactly offer a glimmer of hope, either.

And if you’re using an app to find the cherry to your bakewell, you’ll know how quickly you make your mind up about someone. Based on a bunch of pictures and a bio, we make assumptions and judgements in a matter of seconds. Enjoys brunches, lazy Sundays, and has a cute dog? Instant swipe right.

But there’s another thing we’re judging when flicking through the books for a potential partner. Apparently, their job plays an important role. When separating the wheat from the chaff so to speak, we’re reportedly drawn to some careers more than others.

According to a new survey from Badoo, the most attractive job for men is a chef and for women, a hairdresser. Participants were aged between 18 and 30, and appear to prefer more hands-on professions.

Most desirable jobs for men:

  1. Chef
  2. Engineer
  3. Entrepreneur
  4. Marketing
  5. Artist

Most desirable jobs for women:

  1. Hairdresser
  2. Nurse
  3. Lawyer
  4. Entrepreneur
  5. Teacher

It’s a different story if you talk to the masterminds over at Tinder, however. Their recent study showed that the top job for men was a pilot, and the top job for women was a physical therapist.

Just to confuse you even more, data collected from Match.com also doesn’t quite relate to its competitors, with the website claiming that the most desirable men are doctors, and women are freelancers.

So there you go.

The post These are the jobs that get the most swipes right on dating sites appeared first on Marie Claire.

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Strong Jobs Data, Powell Comments Lead To Rally On Wall Street – U.S. Commentary

Stocks showed a substantial move to the upside over the course of the trading day on Friday, more than offsetting the sharp pullback seen in the previous session. The major averages all moved significantly higher, with the tech-heavy Nasdaq leading the way.
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Dow surges 600 points on Fed chairman’s remarks, jobs report

Wall Street got a welcome reprieve Friday, courtesy of Federal Reserve Chairman Jay Powell and the Labor Department. Powell — publicly pilloried by President Trump over his recent moves to hike interest rates — on Friday signaled he’s willing to back off plans to hike rates twice this year after raising them last month. Separately,…
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Insured But Still In Debt: 5 Jobs Pulling In $100K A Year No Match For Medical Bills

Robert and Tiffany Cano of San Tan Valley, Ariz., have a new marriage, a new house and a 10-month-old son, Brody, who is delighted by his ability to blow raspberries.

They also have a stack of medical bills that threatens to undermine it all.

In the months since their sturdy, brown-eyed boy was born, the Canos have acquired more than $ 12,000 in medical debt — so much that they need a spreadsheet to track what they owe to hospitals and doctors.

“I’m on these payment arrangements that are killing us,” said Tiffany Cano, 37, who has spent her lunch hours on the phone negotiating payoff plans that now total $ 700 a month. “My husband is working four jobs. I work full time. We’re a hardworking family doing our best and not getting anywhere.”

The pair, who earn nearly $ 100,000 a year, are insured and have had no major illnesses or injuries. Still, the Canos are among the 1 in 4 Americans who report in multiple polls that the high cost of health care is the biggest concern facing their families. And they’re at risk of joining the 62 percent of people who file for bankruptcy tied to medical bills.

“Oh, yes, that worry is always in the back of my mind,” Tiffany said.

The family is part of a struggling group: middle-class folks who have followed the rules and paid for employer-based medical insurance, only to find that soaring health care costs — combined with high deductibles, high copayments and surprise medical bills — leave them vulnerable.

“I thought we’d be covered, and it’s just not enough coverage at all,” she said.

Robert Cano, also 37, had family health insurance for 2018 through his job as a manager at a large-chain retail store, for which he pays nearly $ 500 per month. The plan’s $ 3,000 annual deductible and 40 percent coinsurance fees have added up faster than the Canos anticipated.

First came the nearly $ 4,000 bill from the in-network hospital where Brody was born Jan. 2, followed by separate fees from the anesthesiologist and the doctor who performed the routine delivery. Then, at 2 months, Brody was hospitalized with breathing problems doctors said could be related to allergies or asthma. In May, Tiffany came down with a stomach virus that sent her to the emergency room for drugs to treat nausea and dehydration. In October, the baby developed a bad case of bacterial conjunctivitis, or pinkeye.

“It’s been, like, $ 300 here, $ 700 there,” said Tiffany. “We had a hospital bill for him being sick of, like, $ 1,800.” Unable initially to find a pediatrician she liked, Tiffany has agonized over whether to use the ER when Brody gets sick. When he had pinkeye, she debated whether to take him in, hoping it would get better on its own.

Then he got worse, she said, pulling up a photo on her phone of her son with half-moons of red, puffy flesh under his dark eyes.

“I let him suffer for a day like that,” she said.

The Canos lost their first child, a girl, midway through her pregnancy in 2016. Tiffany acknowledges that experience has left her more anxious than the average first-time mom.

“It gave me so much fear that something would happen to him,” she said.

As for their own health care needs, the couple put themselves lower on the priority list. Tiffany has used a prosthetic limb since childhood, when her lower left leg was amputated because of a birth defect.

She needs a new prosthesis because her body changed during pregnancy, but she can’t see how to afford it.

Tiffany Cano with her son, Brody. Cano was born with birth defects that left her with only three fingers on her right hand and a left leg that had to be amputated below the knee during childhood. Because of physical changes during pregnancy, her five-year-old prosthetic leg no longer fits, but she can’t afford her share of the cost of the new limb.

A model suitable for the busy life of a working mom would easily cost $ 10,000 to $ 15,000, according to Tom Fise, executive director of the American Orthotic & Prosthetic Association.

“I try to push through,” Tiffany said. “I put on that brave face of just walking, but it’s so painful to walk. I have bruises all over my leg. I get blisters all the time.” Lately, she’s been wearing an old prosthesis, one she used in high school, because it’s more comfortable.

The Canos don’t know how exactly they fell into such debt, since they tried hard to make responsible decisions. After meeting three years ago, they knew quickly that they wanted to marry and have a family.

“I waited until I found the right guy,” said Tiffany, who was thrilled when, in 2016, they were able to afford a 2,500-square-foot, two-story home in one of the stucco-and-tile neighborhoods an hour outside Phoenix.

But, taken together, the medical payment plans and premiums are almost as much as their $ 1,300 monthly mortgage. All told, the Canos spend about 15 percent of their annual income on health care, almost three times the average for non-Medicare households in the U.S.

That leaves too little for day care, car payments, gas, food and dozens of other domestic expenses, Tiffany said.

For 17 years, Robert Cano had comprehensive health insurance through his job as a soldier in the Army Reserve and paid little or nothing for medical care. He left the Army in 2017, however, after he learned he would be deployed for an extended time away from his wife and new son.

“I told them, ‘I have to be at home,’” he recalled. The Army insurance ended on Dec. 31, 2017, two days before Brody was born.

That meant moving to his employer’s insurance plan. Like more than 40 percent of 152 million Americans who get health insurance through work, the Canos are enrolled in a plan that demands thousands of dollars before any coverage kicks in.

The couple discovered that they earn too much to qualify for financial assistance from medical providers, or for subsidies if they shifted their insurance to a plan under the federal health insurance exchange. She is a full-time bank compliance officer. He is a full-time store manager.

Tiffany wrote to KHN after seeing stories about sky-high medical bills on TV. Dr. Merrit Quarum, the chief executive of WellRithms, a health care consulting firm, reviewed the family’s medical bills and the responses from their health care providers.

Though Quarum had questions about some of the fees in the itemized bills — $ 4 for a 600-milligram ibuprofen tablet? $ 3,125 to place an epidural? — he found the charges were legitimate under the terms of the contract between the hospital and the Canos’ insurer. Tiffany’s only recourse was to set up the five payment plans she navigates each month.

“I wish I could say it wasn’t so, but it is,” Quarum said.

Robert Cano plays with his 10-month-old son, Brody, before leaving for work on a recent Saturday morning.(Heidi de Marco/KHN)

Robert Cano of San Tan Valley, Ariz., gets ready for work on Oct. 20, 2018. He estimates he works up to 120 hours a week, mostly to cover the extra costs of his family’s health care. In addition to his retail job, he is a substitute teacher and a nighttime security guard, and delivers sandwiches for a fast-food chain.(Heidi de Marco/KHN)

Tiffany Cano feeds 10-month-old Brody on Oct. 20, 2018. She works 40 hours a week at a local bank as a compliance officer, commuting more than 90 minutes each way, while Brody attends a local day care center. Because her husband works so much, she says, she often feels as if she’s raising their son alone.(Heidi de Marco/KHN)

Mostly to pay off that health care debt, Robert has taken several part-time gigs this year — he works as a substitute teacher and a nighttime security guard and delivers sandwiches for a fast-food chain in Scottsdale, 40 miles away, where tips are better. He said he sometimes works up to 120 hours in a week.

“I’m not ashamed or embarrassed, even as old as I am, to deliver sandwiches,” he said, pulling on his retail chain polo shirt before rushing to a Saturday morning shift.

He continued: “I know people, they’d rather get food stamps and feel sorry for themselves. But I’m a fighter. I will not give up. … If I can bring in an extra $ 400 a week or $ 800 a month, she can get what she needs for the baby.”

Often getting home after midnight, he keeps shampoo and shaving cream in his car and naps in parking lots between jobs, relying on Red Bull and aspirin to stay alert.

That means on many nights, when Tiffany picks up Brody from day care after her 90-minute commute, she handles most of the chores at home.

“Sometimes I feel like a single mom because my husband is never around,” she said.

She carefully tracks the family’s medical expenses, trying to juggle them with ordinary outlays that can’t wait — like $ 500 for the brakes that went out on her car this month.

At the rate they’re going, the bills won’t be paid until Brody is 3, Tiffany said. The Canos are getting older and they’d like to have another baby before it’s too late, but, for now, that seems impossible.

For 2019, the couple have decided to switch to a different plan offered through the regional bank where Tiffany works. The premium is higher — $ 650 a month — but the deductible is $ 1,500 with just 10 percent coinsurance.

“It is going to be a lot more per paycheck, which is going to hurt us,” Tiffany said. “But after what just happened, I want to make sure we are prepared in case anything does occur.”

How to fix a health care system that burdens middle-class families so heavily is beyond her, she said.

“The only thing we can do is just keep working,” Tiffany said. “I always wonder: How does everybody else do it?”


KHN’s coverage of children’s health care issues is supported in part by the Heising-Simons Foundation.

Kaiser Health News

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Shutdown won’t stop key jobs report or CPI, but other data could be impacted

The partial government shutdown will have some impact on the release of market-moving economic data, though the biggest reports likely won't be affected.
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The Dark Side of Steve Jobs, As Seen By His Daughter

This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here.

In the final pages of her heartbreaking memoir about her childhood, Small Fry, Lisa Brennan-Jobs addresses head on one of the central unanswered questions about her accomplished, famous and appallingly cruel father, Steve Jobs. “When people speak and write about my father’s meanness, they sometimes assume that meanness is linked to genius,” she writes. It’s a variation of the “asshole” hypothesis so many in Silicon Valley posit all the time: Is it necessary to be an asshole, like Steve Jobs was, to achieve greatness?

Brennan-Jobs, who devotes perhaps one page out of nearly 400 to her father’s business affairs, has come to her own conclusion. “Maybe the meanness protected the part that created–so that acting mean to approximate genius is as foolish as trying to be successful by copying his lisp or his walk” or other Jobsian mannerisms.

This is a haunting book. Apologists for Steve Jobs tend to talk about his charisma, his great charm, his uncanny ability to be right. They tend to dismiss or change the subject from his dark side. His eldest child, whose paternity he denied before being compelled in court to accept, sees the good in him, too. But her patient, beautifully written account of how he treated her from a young age almost to the day he died is blot on his reputation. No parent or sibling or child can read this book and not come away empathizing with its author and reviling the character around whom her story revolves.

If your goal in reading books is to be a better manager or spot future trends or to understand Apple’s secrets, this is the wrong book for you. If, on the other hand, you want to gain insight into the man whose company revolutionized industries even as he played the ogre to a defenseless child, I highly recommend it.

***

Speaking of Apple, The Wall Street Journal had a good piece of insight over the weekend, explaining how Apple’s


aapl



geographic expansion last week neatly informs its ongoing strategy of offering services, higher-priced phones, and original content. The paper wrote: “Culver City gives Apple a Hollywood home base as it pushes into video programming. Seattle is a machine-learning hub where it can develop algorithms that personalize streaming-music playlists and improve Siri. San Diego and Austin offer semiconductor engineers who can advance the customized-chip efforts that help Apple wring more money out of its iPhones, iPads, and Macs.”

***

I also recommend The Journal‘s tour de force explanation of GE’s demise under Jeff Immelt. The article nicely builds out the angle Fortune‘s Geoff Colvin explored recently in his piece about the travails of activist investor Nelson Peltz in owning GE’s stock. The reading public will get even more on this subject. Financial journalist, and sometimes Fortune contributor, William Cohan, recently signed a deal to write a book on the rise and fall of GE


ge



.

Fortune

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This Couple Made Enough Dough Baking Biscuits to Quit Their Teaching Jobs

Sometimes when an opportunity arises, you just gotta roll with it.

Jesse Thompson and Lee Valenti were school teachers who dreamed of opening a learning center they’d call Hey Giant Robot, but they needed a way to fund it.

They decided to raise money by baking biscuits to sell at a pop-up market within the learning center.

“We were thinking we could sell them and make a couple hundred bucks on the weekend,” says Thompson, 39, who recalls they’d bake 500 biscuits and sell them for $ 3 to $ 4 a pair. “But then every weekend, we were selling out, and people were lining up.”

Within three months, the couple realized they didn’t have a side hustle baking biscuits to support their learning center.

They had a biscuit-baking business.

“We decided to flip our model,” Thompson says.

Instead of selling biscuits out of the learning center, they housed the learning center inside a bakery.

The couple found a location in Tampa, Florida, that could handle both the baking and the learning. They retained a bit of their original idea for the establishment’s name: Hey Giant! Little Biscuits.

A year and a half later, the biscuit shop employs six to seven part-time workers and costs an average of $ 15,000 per month to operate — “right now our profits range somewhere in $ 3,000 to $ 5,000 a month,” Thompson adds.

Valenti, 41, quit her teaching job last year when the couple realized that she could match her $ 45,000 annual salary by running the shop.

“Starting out, it was the goal to make almost the same or, if not, just a little bit less than what I was making teaching,” says Valenti, who attributes much of the business’s growth to catering events. “We did that fairly quickly.”

This year, Thompson quit his job so they could open a second location.

The pair aren’t alone in trying their hands at baking — here’s another baker who turned her passion into a sweet gig. There are 7,757 retail bakeries in the U.S. as of the first quarter in 2018, according to the Bureau of Labor Statistics. That’s a 14.6% increase since 2008.

But that doesn’t mean the baking business was everything Thompson and Valenti dreamed of.

Our vision of what we thought running a biscuit shop would be like was completely different than what it actually is,” Thompson says. “You think, oh, this is going to be cool — make a couple biscuits, hang out all day and when it’s slow, just sit and read some books.

“No, there’s none of that — we’re constantly making food.”

And although the path was unexpected, Thompson and Valenti say that starting over with new careers isn’t as much of a pie-in-the-sky idea as you might think.

Recognizing an Opportunity

Details of a person preparing biscuits and baked biscuits

From the beginning, the couple set themselves up for the possibility of expansion — just in case.

“When we tested the waters with our pop-up, we said, ‘Let’s rent a space and get the licensing,’” Thompson says. “‘Because if this works out, we can keep going forward. And if it doesn’t, then we’re not out too much — it’s going to be a meager Christmas, but that’s it.’”

Investing time and money turned out to be the incentive the couple needed to make some big decisions early on.

It was too much work to be half in,” Valenti says, and Thompson adds, “If you don’t find some level of commitment, you’re less motivated to keep driving forward.”

Transferable Skills

A man greets a customers at a biscuit shop

Although neither had previous experience in the food-service industry, Thompson and Valenti did bring translatable skills from their previous careers.

We’ve relied on and applied our teaching methods and our classroom management,” Thompson says. “You have to deal with different types of learners, and that flexibility on the management side has helped.”

Serving up biscuits behind the counter during a mid-morning rush, the pair calls out to customers by name — looking a lot like teachers at the head of a classroom.

After spending most of their professional careers in teaching, Thompson admits the couple misses certain elements of their old life — particularly when they attended an open house at their children’s school and realized they wouldn’t be setting up their own classrooms.

“If you do a career for 15 to 20 years, like we have with teaching and education, you’re going to miss it,” Thompson says. “There are certain routines and certain ways of life that you’re just used to.”

But the biscuit business has also offered the creative control that was sometimes missing from teaching, Valenti points out.

“Teaching is creative, but for us, we needed another outlet of something we ran,” Valenti says. “The biscuit shop is cooking, but it’s also a creative outlet for us — where we design the place, we make the menu, we make the recipes.

“It really feeds something that both of us are always looking for.”

Not Losing Sight of the Goal

The couple may have discovered a great way to make some dough, but what about their original idea, the learning center?

Thompson describes their vision for the first location as a junky robot repair shop that kids could explore before entering the learning center hidden in the back.

“None of that was realistic,” he says with a laugh.

The learning center is instead housed in a room off the main bakery, hidden behind a sliding chalkboard door that announces Biscuit Specials like Mississippi Maple and Nutter Butter Fluffer Nutter.

Staffed by volunteers, the center offers free tutoring, writing workshops and art classes after the bakery closes for the evening and on weekends.

Thompson notes that, although they enjoy baking, he and Valenti still consider the shop a way to fund their learning center.

“Being part of the learning community and sparking creativity is kind of our ultimate goal,” Thompson says. “We love making biscuits, but if we could [operate the center] full time, we would.”

Taking a Chance on New Careers

A couple pose for a portrait

The couple agrees that, despite the risks of leaving steady teaching jobs for the uncertainty of the culinary world, they have no regrets.

“You have those conversations of, ‘Wouldn’t it be great if one day,’” Thompson says. “We decided this has to be that ‘one day,’ because if we don’t, three years from now, we’ll get back to ‘what if.’”

Valenti notes that by challenging themselves to learn something new and by being flexible about their options, they’ve had an opportunity they thought they could only dream of.

Thompson’s advice to others fantasizing about a new career? You’ll never know if you don’t try.

“You have to take that plunge,” Thompson says. “Just be open to where it takes you.”

Tiffany Wendeln Connors is a staff writer with The Penny Hoarder. Data journalist Alex Mahadevan contributed to this article.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Companies struggling to fill jobs ‘should try paying more,’ Fed’s Kashkari says

Companies should try digging in their pockets if they're looking to find workers for unfilled jobs, Minneapolis Fed President Neel Kashkari said Tuesday.
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WATCH: World News 11/05/18: Trump Talks Up Jobs, Economy At Urging Of GOP Leaders

Abrams makes last pitch to become first black female governor in the US; Tallahassee mayor hopes to become Florida’s first black governor
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The big number from the October jobs report could be bad news for the market

October's nonfarm payrolls report Friday could bring some good news for the jobs market, which might be bad news for the stock market.
Economy

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The fuzzy math of October’s ‘new jobs’ data

I think the employment report Friday will be stronger than the “experts” expect. I always put the word “expert” in quotes when it comes to the jobs report because nobody is an expert. Everyone is a guess-pert. Me too. Only I think I know a secret regarding this job report, which is crucial because it…
Business | New York Post

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Exclusive: Defense firms see only hundreds of new U.S. jobs from Saudi mega deal

Every time President Donald Trump mentions the $ 110 billion arms deal he negotiated with Saudi Arabia last year, he quickly follows up, saying “It’s 500,000 jobs.”


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Here’s where the jobs are — in one chart

The professional and business services industry led job gains for the month of September, besting laggards like the leisure and hospitality sector, according to the latest government jobs report.
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The five most important numbers from today’s jobs report

These are the five most important numbers from the September nonfarm payrolls report released Friday.
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‘Rip-roaring hot’ jobs market sees private payrolls surge by 230,000, highest since February

Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody's Analytics.
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Trump administration says trade pact will bring auto jobs back to U.S.

U.S. Commerce Secretary Wilbur
Ross sees tens of thousands of jobs flowing back into the U.S.
auto sector, especially among suppliers, thanks to the Trump
administration’s new trade deal with Mexico and Canada, while
industry executives and analysts are less upbeat as higher costs
could hurt sales.


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