To work from home or not work from home? That is the question. Industry leaders are carefully considering whether to establish more permanent work-from-home arrangements for their employees. Jamie Dimon, CEO of JPMorgan Chase & Co., is leaning toward having staff in the office. He told analysts his firm has seen a drop in productivity in response to employees working from home, and a lack of in-person interaction is hard to replace.
Big tech companies appear to be going in the opposite direction, with a caveat. Some tech companies will allow a permanent work-from-home policy, but salary will be adjusted depending on where the employee lives. As far as employees are concerned, a recent Wells Fargo survey found approximately 66% of respondents would prefer to work from home.
The Fed held its key interest rate steady at 0.25%: Fed holds rates steady near zero and indicates it will stay there for years
Canada’s inflation rate 0.1% in August: August inflation rate holds steady at 0.1%, Statistics Canada reports
What a second wave could mean for the economy: Could a second wave mean a second shutdown?
Amazon is on a hiring spree: Amazon is hiring a further 100,000 people to keep up with pandemic-induced demand
A look at the largest wealth managers around the world: World’s top 20 biggest wealth managers
Reasons for hope
The U.S. could get a vaccine before the end of 2020: Pfizer CEO says Americans could get COVID shot before year-end
Cases of COVID-19 trending downward in the U.S.: Positive COVID-19 trends emerge in August across much of the U.S., and elsewhere
Focused on helping entrepreneurs: Marlo Richardson helping people create businesses
Adapting your business
Entrepreneur pivots his business amid the pandemic: How this 24-year-old entrepreneur pulled off a coronavirus pivot before his company even launched
Getting the most out of your IT team: Whether you know it or not, this team in your business needs your attention
Lesson learned; be prepared for any scenario: A new definition of being prepared
Tips to build a successful financial services practice: 5 ways to build a financial services practice
Think like an entrepreneur in times of crisis: We need entrepreneurial leaders now more than ever
Chart of the week: Cineplex’s not-so-excellent adventure
S&P Dow Jones Indices announced Cineplex Inc. will be removed from the S&P/TSX Composite Index on September 21. This adds to a challenging year faced by the theatre operator. COVID-19-induced lockdowns forced Cineplex to close its theatres. Then its planned takeover by Cineworld PLC unraveled. Now, theatres must operate at restricted capacity, while studios are delaying the release of big-budget movies or taking them online via a streaming service. Cineplex’s revenue dropped 95% year-over-year during the second quarter of 2020. Since the beginning of the year, its stock price has dropped 76%. Can the theatre business regain its footing? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Hedge funds post a positive return in August: Hedge fund industry up 2.42 per cent in August, says Backstop BarclayHedge
Large banks could start new VC or direct lending vehicles: An influx of VC funds could be coming from banks
Turning to hedge funds for protection: Morgan Stanley’s rich clients shift to hedge funds for defense
A look at the new Bloomberg GSAM Risk Premia Indices: Bloomberg and Goldman Sachs Asset Management launch alternative risk premia indices
News and notes (Canada)
BMO launches four new ESG portfolios: BMO launches new line of ESG portfolios
Evolve launches Evolve Future Leadership Fund: New evolve ETF invests in sector leaders
The U.S. removed tariffs on Canadian aluminum: U.S. lifts tariffs on Canadian aluminum
Still hunting for deals: He’s 91 and worth billions. Now Jimmy Pattison is hunting deals