News week

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German Population Drop Spells Skills Shortage in Europe's Powerhouse

German bathroom fittings maker Hansgrohe is a successful firm with a track record of global exports and an attractive profit-sharing scheme. But it’s struggling to hire highly-qualified engineers – and many more “Mittelstand” companies are too. The raft of firms named after their small-to-medium size kept Germany afloat throughout a global economic downturn and still have…

Who to Thank for the New Texas Oil Boom

The Energy Information Administration (EIA) released new state crude oil production data last week for the month of September, and one of the highlights of that monthly report is that oil output in America’s No. 1 oil-producing state—Texas—continues its phenomenal, eye-popping rise. Here are some details of oil output in “Saudi Texas” for the month of…

U.S. and China to Eliminate Tariffs on $1 Trillion Worth of Tech Products

The U.S. and China reached a breakthrough in trade negotiations late on Monday, agreeing to drop tariffs on a slew of tech products amounting to $1 trillion in global sales, President Barack Obama announced Tuesday. After more than a year of stalled talks amid strained relations, the countries were able to reach an agreement to eliminate…

ISIS Introduces New Currency

The Islamic State (ISIS) announced plans to begin minting its own currency on Thursday. The terrorist organization gave specifics to SITE Intelligence Group, an organization that monitors the jihadist threat. ISIS told SITE the new currency, minted in gold, silver and copper, will remove Muslims from the “satanic usury-based global economic system.” The currency was created…

Wall Street Bonuses Show Growing Divide

When it comes to bonuses on Wall Street, a distinct pattern has begun to develop since the financial crisis: Traders are not getting the gravy anymore. And it’s not just bank traders who are feeling a little less wealthy. It’s hedge fund traders, too. By contrast, dealmakers at Wall Street’s top banks—along with those working for…

UBS Tax Evasion Case Sheds Light on Swiss Secrets

In the hush-hush world of Swiss private banking, some secrets are meant to be kept. With the dramatic collapse of the U.S. government’s showpiece criminal case against a former top Swiss banker on charges of conspiracy to help wealthy Americans conceal $20 billion offshore, the full story of how Swiss bank giant UBS, the world’s largest…

GOP Senate Wins Boost Odds For Keystone XL

The odds of the Keystone XL pipeline being built increased Tuesday night after Republicans clinched control of the U.S. Senate. The GOP now has enough votes in Congress to force a decision by President Barack Obama on the long-delayed Canada-to-Texas oil project, and proponents could potentially gather enough support to override a presidential veto. Republicans will…

The Wealth Gap Preoccupies Wall Street

Bill Gates, the founder and chairman of Microsoft, is the richest man in the world, with an $81.7 billion fortune that places him atop the staggeringly rich 1 percent of human beings who own nearly half the wealth on planet Earth. Got a problem with that? You probably do if you’re a 1960s-inspired proponent of social…

How Far Up Switzerland’s Biggest Bank Did U.S. Tax Evasion Scam Reach?

The secret binder lay wedged in a hidden drawer inside a filing cabinet in his office on the Bahnhofstrasse in Zurich, the heart of the world of Swiss private banking. Martin Liechti, a former top private banker at Swiss bank giant UBS, privately called the binder his “CYA file,” a person briefed on the matter tells…

Giant Penalties Are Giant Tax Write-Offs for Wall Street

At the Justice Department, senior officials like to congratulate themselves on the headline-making, big bucks settlements they have imposed upon banks and lenders for their part in causing the 2008 mortgage meltdown that sparked the biggest American financial crisis since the Great Depression. But wait a moment. Those settlement figures are not quite what they seem.…

25 Banks Fail European Central Bank’s ‘Stress Test’

Roughly one in five of the euro zone’s top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the European Central Bank said on Sunday. Painting a brighter picture than had been expected, the ECB found the biggest problems in Italy, Cyprus and Greece but concluded that…

Over Half of Europe’s Bankers Bypass the EU Bonus Cap

“This is an attempt to knock London off its perch,” declared the colourful Conservative mayor, Boris Johnson. “We’re not going to let it happen.” And that, in effect, is how the political game over the European Union’s cap on bankers’ bonuses has played out so far, after 18 months of rhetoric, legal argument and financial ingenuity.…

Health Care Worker in New York City Tests Positive for Ebola

Updated | A health care worker who recently returned from Guinea, one of the three countries most affected by the Ebola virus in West Africa, tested positive for the Ebola virus after he was taken to Bellevue Hospital in Manhattan on Thursday, according to The New York Times. The 33-year-old was transported to Bellevue Hospital by…

How to Answer “What’s Your Management Style?”

If you’re interviewing for a position that requires supervising others, any sensible hiring manager will ask you, “What’s your management style?” And for some reason, this question always seems a little awkward to answer. How can you respond in a way that shows you can be an effective leader who’s right for the team while not…

Turning the Tables: 3 Easy Steps for Interviewing Prospective Employers

Interviewing can be a confusing mix of elation and terror. Most of us are trained to believe that employers are the ones choosing us, but that’s not entirely true. In fact, you have the opportunity—and responsibility—to interview your prospective employers, too. I know what you’re thinking. This probably sounds great on paper, but really, who does…

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