Author Archives: Eduardo Porter

Investment heavyweights have warned that international investors will continue to shun the U.K. until the dual threat of a hard Brexit and a Labour government led by Jeremy Corbyn can be completely discounted. Investors have avoided the U.K. amid uncertainty over the country’s future relationship with the European Union. Net outflows since the referendum vote in June 2016 from funds which invest specifically in U.K. companies reached $29.8bn, according to data from EPFR. Lucy Macdonald, chief investment officer for global equities at Allianz Global Investors, said in addition to uncertainty surrounding the Brexit outcome, the policy proposals of the opposition Labour Party under leader Jeremy Corbyn have also affected sentiment. “Another reason why global investors have been nervous about the U.K. has been the threat of an extreme left-wing government. Although that looks a lower risk because of where the polls are, it is still a risk,” said Macdonald. According…

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Thousands of UK political ads went missing from Facebook Inc’s searchable advertising database on Tuesday, hampering researchers’ ability to track ads two days before Britain’s general election. Facebook’s ad library, which it launched in the UK in 2018, is a public tool for users to view political advertising on the platform. The problem, first reported by Sky News, affected ads from the ruling Conservative Party, the Brexit Party and the Liberal Democrats. It was not immediately clear if any Labour Party ads were affected. “We have fixed the bug and all of the impacted ads in the UK are now back in the ads library,” Facebook said in a statement. A spokesman also confirmed that some ads in the United States were affected, but declined to answer questions on the scale of the issue there. Facebook’s ad library has been a cornerstone of the social media giant’s efforts to be…

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Almost $1.5bn (£1.1bn) has been wiped off the value of the exercise bike firm Peloton after a backlash against a Christmas advert widely derided as “sexist and dystopian”. The advert, which has been viewed almost 2m times on YouTube, shows a woman receiving an exercise bike from her partner on Christmas morning. The gift inspires her to record a video diary of her exercise sessions, in which she proudly says: “A year ago I didn’t realise how much this would change me.” The 30-second advert – titled “The gift that gives back” – was first released in mid-November, but this week a storm of criticism gathered pace online, and even inspired a series of spoof video remakes. Critics called it “offensive” and “dumb”, pointing out that the woman was already slim at the start and the implication that her partner thinks she needs to get fitter and lose weight was…

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You dropped out of college, or decided straight out of high school that college was not your thing. Here’s some advice if you are looking for a job: Stay out of Washington. Don’t go to New York. Forget about San Francisco. If you want to make anything near a decent wage, head for Toledo, Des Moines or Birmingham. Most of the 140 million Americans over 25 who lack a bachelor’s degree face pretty dim job prospects. The median wage for workers with some college education but no four-year degree is $835 per week, about 10 percent less than it was at the turn of the century, after inflation. Workers with a bachelor’s degree typically make one-third more. Underneath the grim average, however, the truth is that there are better-paid jobs available to workers without the requisite college credential. The trick is finding them. They are not always in the most…

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