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Latest news

  • A peer-reviewed study indicated that preliminary testing of the new Covid-19 vaccine generated strong immune responses in all participants without “serious adverse effects”

    Half of British workers returned to work in the last week of August, the highest number since lockdowns were introduced by the government

  • Italy reported its biggest single-day increase in coronavirus cases since early May, casting a cloud over a recent drop in daily infections

The future of work

It’s not working at home, it’s more about living at work.

For those who aspire to a separation between personal and professional life but who feel unable to return to work, a new option is emerging: the “hyperlocal” workspace.

Instead of the downtown locations operated by companies like WeWork, reports Janina Conboye of our Work & Careers team, informal suburban spaces are emerging, located everywhere from hotel lobbies to vacant stores.

Of course, it’s not just where we work that has been turned upside down during the pandemic, but the way we work. Editor-in-Chief Andrew Hill’s Great read examines how companies are using lessons learned from foreclosure to introduce new ways to organize and supervise their workforce.

© Getty Images

Some see remote work as a great leveler. “When everyone is working remotely, it feels like everyone has a fair chance,” says an executive at a US insurer. The flip side, Andrew writes, is that “presenteeism is being revamped with an ominous touch of telecommuting” as concerns arise over the oversight of staff working outside the office, through monitoring screen time or keystrokes. Another risk is that companies do not take into account the “second order effects” of widespread remote working, including how to integrate new hires and foster a shared corporate culture.

For some groups, such as stock traders, working individually through screens may never equate to working with colleagues in an office, writes the American editor (and anthropologist). Gillian tett.

Isolated individuals are missing out on a crucial “incidental information exchange” between teams, one banker told him. “What’s very difficult to replicate is the information you didn’t know you needed. . . where you hear noise coming from a desk in a hallway, or you hear a word that triggers a thought. If you work from home, you might not know you need this information.

Read more in our series: Return to the office

Andrew Hill is one of the panelists for today’s session on “The Death of the Office and Our Future of Working from Home” at FT Weekend Digital Festival which runs until Sunday. The festival features many seasoned FT journalists in conversation with leading figures in politics, business and the arts, from former UK Prime Minister Tony Blair to Snap CEO Evan Spiegel and actress Annette Bening.

Markets

US leaders took advantage of the record streak of equity markets through throw away their stocks and “to reap a unique windfall in a millennium”. “If you think your future is bleak but your stocks are skyrocketing, it makes sense to sell,” says an advisor.

Billion dollar * column chart showing insiders offloading stocks as market hits new high

The decision of companies to hold annual general meetings online leaves private investors in the dark and their questions unanswered, says new investigation. According to one business expert: “Whether in person or virtually, there will be companies that are inclined to be shareholder friendly and transparent. . . and there will be companies that basically try to remove the voices that they don’t like, and the virtual makes it easier for them to do that. “

The heads of the European Central Bank, who are meeting next week to discuss policy, fear that the appreciation of the euro hurt exports, lower prices and increase the pressure for more monetary stimulus. Several members of the ECB’s Governing Council told the FT that the rise of the euro against the US dollar and many other currencies could hamper the eurozone’s recovery.

Business

Actions in CaixaBank and Bankia rose sharply after both Spanish lenders confirmed they were talking about a possible fusion to become what would be the country’s largest national bank with assets of over 650 billion euros. The talks come amid mounting pressure on retail banks as they struggle to set aside expensive provisions for failed loans caused by the pandemic.

Virgin atlantic said he would cut 1,000 more jobs as he finalizes a £ 1.2bn private sector bailout agreement. Ryanair investors denounced the airline for paying a bonus of € 450,000 to the CEO Michael o’leary despite staff on leave and government support in the event of a pandemic.

The English Premier League faces coronavirus miss to win over half a billion pounds next season, the FT has revealed, just as it is negotiating with the government to allow fans to return to stadiums. The soccer league also abruptly ended a £ 700million television deal with a consecutive Chinese broadcaster for payments withheld due to the pandemic.

Mondial economy

The unemployment rate in the United States fell to 8.4 percent in August, as employers added 1.4 million jobs. About 11 million of the 22.5 million jobs lost in March and April have been recovered in recent months, but the rebound has been hampered by further increases in infection in many states, as well as mitigating effects fiscal stimulus measures.

France launched a 100 billion euro stimulus plan with big investments in green energy and transport. Unlike Germany’s € 130 billion plan, which included a cut in value-added tax, France’s goal is primarily to boost investment rather than boost demand. disappointing German factory orders The data this morning followed Wednesday’s unequal consumer confidence report highlighting the still fragile nature of The recovery of Europe.

British Chancellor Rishi Sunak is about to reject calls from the financial sector for a new public body to refinance tens of billions of pounds coronavirus loans issued to UK companies. Ministers fear that such a decision will tip the balance of risk from banks to taxpayers. Mr. Sunak “eats to help” restaurant discounts were used for over 100 million meals at an interim cost to the taxpayer of £ 522 million.

Readers respond

TheGreenMachine comments I’m ready to do my patriotic duty – and buy my BLT Loan

As a millennial, I miss the interaction, ideas, collaboration and friendship of my colleagues very much.

Zoom and Microsoft Teams calls have been a vital infrastructure throughout this pandemic and have proven to be a very good stopgap, but I feel really stuck with who I interact with now. Conversations only take place out of necessity with close colleagues, which means that I can quite easily go half a day without speaking to anyone in the lonely confines of an uncomfortable kitchen. I can see a long term situation of working from home having an extremely detrimental impact on mental health, waistline and social skills. Plus, city centers are vibrant and exciting places to relax, especially for us young people who don’t feel like living sitting in our slippers within the same four walls 24/7.

I am desperate to return to the office, but ideally with a three-day and two-day separation from the WFH. Long live the office, IMHO.

Get in touch

How is your workplace dealing with the pandemic? And what do you think businesses and markets – and our daily lives – will look like after the lockdown? Please tell us by e-mail [email protected]. We can publish your contribution in a future newsletter. Thank you

The essentials

UK Transport Secretary Grant Shapps admitted differences quarantine rules between England and the United Kingdom decentralized nations were “confusing”. Scotland and Wales have imposed restrictions on travelers returning from Portugal and Greece, but not England.

Track the rate of UK and international economic recovery through our range of graphics and data.

A series of charts showing data on Indeed.com's job vacancies, comparing the trend gap between 2020 and 2019. In all countries shown - US, France, Germany, Italy, Spain, UK, Australia, Brazil, India and Japan, offers remain well below 2019 levels, showing only modest signs of recovery from the bottom of the tendency.

Final thought

“If anything were to find a way for technology to reopen, it would surely be a segment of the entertainment industry whose entire 50-year-old business model has been about piling up ever more alluring layers of digitization ( voice assist, calorie counters, competitive hit gauges) on what is essentially a singing campfire. Tokyo correspondent Leo Lewis report how karaoke adapts to the era of the coronavirus.

© Pâté

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