Fed Reports Urgency – The New York Times

The stakes are high. In September, John Gibson, chief executive officer of Tripwire Interactive, a Georgia-based gaming company, tweeted who was “proud” of the Supreme Court for “affirming Texas law banning abortion for babies with a heartbeat.” He was replaced in a few days. The push-back goes both ways: in Florida, Disney clashes with the governorRon DeSantis, points out the backlash companies can face for publicly criticizing state legislation.

The labor market is a factor. Some executives say restrictive laws negatively impacted recruiting.

  • Vivek Bhaskaran, CEO of QuestionPro, a technology services firm that has moved its headquarters to Austin, Texas in recent years, said restrictive state laws have hindered the company’s ability to recruit talent. “I’ve done tons of interviews and in almost all of these conversations we end up talking about abortion law in one way, shape or form,” she said. “One lady said, ‘My personal values ​​aren’t really tied to Texas, are you going to force me to move to Texas?’”

  • solutiona Houston-based chemical company said it will open a second office in Boston to accommodate recruits who don’t want to move to Texas.

– Nirmala Sitharaman, Indian Finance Minister. India found substantially discounted Russian oil to be an irresistible bargainno matter the diplomatic pressure.

The annual Milken Institute World Conference conducted yesterday by financier Michael Milken. This week attracted some 3,500 academics, businessmen, politicians and celebrities to the Beverly Hilton and ended with a Beach Boys concert that included the 1964 band hit “Don’t Worry Baby”. Few, however, seemed to follow the advice. The conference, where billionaires usually come to exchange perspectives for their portfolios and the economy, had a more pessimistic tone than usual.

Goldman Sachs CEO David Solomon, he said he was concerned about what Fed rate hikes would do to markets and the economy. “Facebook broke democracy” Daniela Allen, a Harvard political theorist, he said during a panel discussion on how to close the political divide in America.

Separately, according to a new report released this morning by Johnson Associates, a compensation consulting firm, most Year-end bonuses on Wall Street are likely to drop because the volume of operations so far this year has significantly decreased compared to 2021. The company also expects a slowdown in hiring as asset managers seek to curb spending. Last year, the average bonus paid to employees of New York City’s stock companies jumped to $ 257,500, up 20% from a 2020 record. according to estimates published in March by the State of New York.