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Kamis, 11 Juli 2019

Amazon plans to retrain 100,000 employees - CNN

The training, which will be voluntary, expands upon Amazon's existing programs and initiatives. The idea is to help Amazon (AMZN) employees progress into more advanced jobs or even new positions outside of the company. It will be available to 100,000 workers by 2025.

Amazon is calling the plan "Upskilling 2025." Workers could use the training to transfer between positions that, without the training, they might not have been qualified for.

For example, warehouse workers in fulfillment centers could be trained for technical roles in IT and nontechnical workers could be retrained as software engineers, even if they have limited technical background.

Another training initiative, Amazon Apprenticeship, offers paid intensive classroom training and on-the-job apprenticeships within the company. Amazon is also emphasizing its growing cloud business with a training program that helps employees operate in the booming tech business.

"While many of our employees want to build their careers here, for others it might be a stepping stone to different aspirations," said Beth Galetti, Amazon's head of HR, in a prepared statement. "We think it's important to invest in our employees, and to help them gain new skills and create more professional options for themselves."

Amazon's initiative comes as robots and artificial intelligence are advancing and more capable of replacing human jobs.

Machines are expected to displace about 20 million manufacturing jobs across the world over the next decade, according to a recent report from Oxford Economics, a global forecasting and quantitative analysis firm. That amounts to 8.5% of the global manufacturing workforce being displaced by robots.

Amazon is also fighting for employees during one of the tightest labor markets. Upskilling 2025 could help attract more employees because of future opportunities they might not have been previously qualified for. The training also helps Amazon retain workers.

Some of the fastest-growing jobs are in skilled areas Amazon is training for, including software developers, according to the US Bureau of Labor Statistics.

"Through its Upskilling 2025 pledge, Amazon is focused on creating pathways to careers in areas that will continue growing in years to come, including healthcare, machine learning, manufacturing, robotics, computer science, cloud computing, and more," the company said in a statement.

The company is also dealing growing internal displeasure among from some fulfillment workers.

The Wall Street Journal first reported the news Thursday.

Recently, the company's plan to spend $800 million to speed up deliveries for Prime members sparked tension between the company and the leader of a major workers' union. They said the new shipping initiative could be dangers for workers and are struggling to keep up with demand.

Amazon was also criticized last April after it revealed the median pay for its global workforce, including part-timers, was $28,446 in 2017. The company said in October that it would raise its minimum wage to $15 per hour for US employees.

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https://www.cnn.com/2019/07/11/tech/amazon-retraining-workers/index.html

2019-07-11 14:16:00Z
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Dow tops 27,000 as Wall Street surges after Powell signals rate cut - Fox Business

The Dow Jones Industrial Average topped 27,000 for the first time on Thursday as the top three equity benchmarks traded higher on Wall Street after Federal Reserve Chairman Jerome Powell signaled the central bank was still moving towards an interest rate cut due to trade uncertainties.

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Following several days of uneven trading activity over concerns that the Federal Reserve would withhold moving forward on the expected cuts, investors were optimistic after Powell’s remarks that the central bank’s outlook for the U.S. economy is weighed down by trade tensions.

Many Federal Open Markets Committee participants “saw that the case for a somewhat more accommodative monetary policy had strengthened," he said in prepared testimony for the House Financial Services Committee.

Powell is back on Capitol Hill for a second round of testimony, this time before the Senate.

Ticker	Security	Last	Change	%Chg
I:DJI	DOW JONES AVERAGES	26956.74	+96.54	+0.36%
SP500	S&P 500	2996.66	+3.59	+0.12%
I:COMP	NASDAQ COMPOSITE INDEX	8206.503664	+3.97	+0.05%

Powell also said a strong June jobs report did not change the central bank's economic outlook or policy on interest rates. He is scheduled to testify in front of a Senate panel on Thursday.

In economic news, initial claims for state unemployment benefits declined 13,000 to a seasonally adjusted 209,000 for the week ended July 6, the lowest level since April, the Labor Department said.

Shares of technology companies will be active after the French government on Thursday approved a new tax on those firms amid a probe into the measure by the U.S. government. The 3 percent tax on companies with roughly $845 million in global revenue and $281 million in digital sales in France will take effect retroactively to the start of 2019.

Meanwhile, investors are eagerly awaiting a July 31 policy meeting to see if the Federal Reserve moves forward with the rate cuts.

In company earnings news, shares of Delta Air Lines surged on better-than-expected results for the second quarter. Profits at the Atlanta-based carrier rose 32 percent to $2.35 per share, as revenue grew to $12.5 billion.

Ticker	Security	Last	Change	%Chg
DAL	DELTA AIR LINES INC.	60.37	+0.90	+1.51%

Last month, President Trump and Chinese President Xi Jinping agreed to relaunch trade talks after negotiations fell apart in May.

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Top White House officials had “constructive” talks with Chinese Vice Premier Liu He and Minister Zhong Shan earlier this week and a face-to-face meeting is possible.

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https://www.foxbusiness.com/markets/us-stocks-wall-street-july-11-2019

2019-07-11 14:03:54Z
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Wall Street adds to gains after Powell signals rate cut - Fox Business

MORE FROM FOXBUSINESS.COM...

Powell is back on Capitol Hill for a second round of testimony, this time before the Senate.

Ticker	Security	Last	Change	%Chg
I:DJI	DOW JONES AVERAGES	27004.91	+144.71	+0.54%
SP500	S&P 500	3000.02	+6.95	+0.23%
I:COMP	NASDAQ COMPOSITE INDEX	8215.427629	+12.90	+0.16%

Powell also said a strong June jobs report did not change the central bank's economic outlook or policy on interest rates. He is scheduled to testify in front of a Senate panel on Thursday.

In economic news, initial claims for state unemployment benefits declined 13,000 to a seasonally adjusted 209,000 for the week ended July 6, the lowest level since April, the Labor Department said.

Meanwhile, investors are eagerly awaiting a July 31 policy meeting to see if the Federal Reserve moves forward with the rate cuts.

Ticker	Security	Last	Change	%Chg
DAL	DELTA AIR LINES INC.	60.08	+0.61	+1.03%

Last month, President Trump and Chinese President Xi Jinping agreed to relaunch trade talks after negotiations fell apart in May.

CLICK HERE TO GET THE FOX BUSINESS APP

Top White House officials had “constructive” talks with Chinese Vice Premier Liu He and Minister Zhong Shan earlier this week and a face-to-face meeting is possible.

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https://www.foxbusiness.com/markets/us-stocks-wall-street-july-11-2019

2019-07-11 13:48:26Z
52780328813959

US core inflation posts biggest gain in nearly 1 1/2 years - CNBC

U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June amid solid gains in the costs of a range of goods and services, but will probably not change expectations the Federal Reserve will cut interest rates this month.

The Labor Department said on Thursday its consumer price index excluding the volatile food and energy components rose 0.3% last month. That as the largest increase since January 2018 and followed four straight monthly gains of 0.1%. The so-called core CPI was boosted by strong increases in the prices for apparel, used cars and trucks, as well as household furnishings.

There were also increases in the cost of healthcare and rents. In the 12 months through June, the core CPI climbed 2.1% after advancing 2.0% in May.

The overall CPI edged up 0.1% last month, held back by cheaper gasoline and food prices. The CPI rose 0.1% in May. It increased 1.6% year-on-year in June after rising 1.8% in May.

Economists polled by Reuters had forecast the CPI unchanged in June and rising 1.6% year-on-year.

The Fed, which has a 2% inflation target, tracks the core personal consumption expenditures (PCE) price index for monetary policy. The core PCE price index increased 1.5 percent year-on-year in May and has undershot its target this year.

Fed Chairman Jerome Powell on Wednesday told lawmakers the U.S. central bank would "act as appropriate" to protect the economy from rising risks such as trade tensions and slowing global growth. Powell also said "there is a risk that weak inflation will be even more persistent than we currently anticipate."

Policymakers from the U.S. central bank are scheduled to meet on July 30-31. The Fed last month downgraded its inflation projection for 2019 to 1.5% from the 1.8% projected in March.

In June, gasoline prices dropped 3.6% after falling 0.5% in May. Food prices were unchanged last month after rebounding 0.3% in May. Food consumed at home fell 0.2%.

Owners' equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, rose 0.3% in June, matching May's gain. Healthcare costs increased 0.3%, after a similar advance in May.

Apparel prices surged 1.1% after being unchanged in May. Prices for these goods tumbled in March and April after the government introduced a new method and data to calculate their cost. Used motor vehicles and trucks prices jumped 1.6% in June after declining for four straight months.

The price of household furnishings and operations rose 0.8%, the biggest gain since 1991, driven by rising costs for gardening and lawncare services.

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https://www.cnbc.com/2019/07/11/consumer-price-index-june-2019.html

2019-07-11 13:05:12Z
CAIiEAFq30OwOuKQSuvqF2xFfbMqGQgEKhAIACoHCAow2Nb3CjDivdcCMIvwngY

Amazon plans to retrain 100,000 employees - CNN

The Wall Street Journal first reported the news Thursday.

Under the plan, workers could use the training to transfer between positions they might not have been qualified for. For example, warehouse workers in fulfillment centers could be trained for technical roles in IT and nontechnical workers could be retrained as software engineers.

Amazon's initiative comes as robots and artificial intelligence are advancing and more capable of replacing human jobs.

The company is also dealing growing internal displeasure among from some fulfillment workers.

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https://www.cnn.com/2019/07/11/tech/amazon-retraining-workers/index.html

2019-07-11 12:04:00Z
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Chip, Healthcare Stocks Lead Futures Higher; Delta Stock Gets 737 Max Boost - Investor's Business Daily

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Chip, Healthcare Stocks Lead Futures Higher; Delta Stock Gets 737 Max Boost Investor's Business Daily
U.S. Futures Pare Gain, Dollar Trims Dip on Prices: Markets Wrap Yahoo Finance
Dow rises 100 points at the open as market adds to gains following Powell's rate-cut signal CNBC
The S&P 500 at 3,000 Is No Reason to Celebrate Bloomberg
Jerome Powell Just Locked in a July Rate Cut Bloomberg
View full coverage on Google News

https://www.investors.com/market-trend/stock-market-today/healthcare-stocks-lead-dow-jones-futures-higher-delta-stock-jumps/

2019-07-11 12:31:53Z
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Amazon plans to spend $700 million to retrain a third of its US workforce in new skills - CNBC

Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, June 19, 2019.

Katherine Taylor | Reuters

Amazon.com on Thursday unveiled plans to retrain a third of its U.S. workforce — or 100,000 workers — by 2025 to help its employees move into more advanced jobs or find new careers.

The retail and tech giant intends to expand its existing training programs and introduce new ones. The training will be voluntary, and most of the programs are free.

Programs will help workers "access training to move into highly skilled technical and non- technical roles across the company's corporate offices, tech hubs, fulfillment centers, retail stores, and transportation network, or pursue career paths outside of Amazon," the company said in a statement.

Amazon's retraining programs will include:

Amazon Technical Academy, which equips non-technical employees with the skills to transition into software engineering careers;

Associate2Tech, which trains fulfillment center associates to move into technical roles;

Machine Learning University, which offers employees with tech backgrounds the opportunity to access machine learning skills;
Amazon Career Choice, a pre-paid tuition program designed to train fulfillment center associates in high-demand occupations of their choice;
Amazon Apprenticeship, a Department of Labor certified program that offers paid intensive classroom training and on-the-job apprenticeships with Amazon; and
AWS Training and Certification, which provide employees with courses to build practical AWS Cloud knowledge.

The planned program is among the biggest corporate retraining initiatives ever announced, at a cost of roughly $7,000 per worker, or $700 million, the Journal said.

Amazon shares are up 34% this year and are among the top performers in the 5-year run by the S&P 500 to 3,000 from 2,000.

The Wall Street Journal first reported on the company's retraining program.

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https://www.cnbc.com/2019/07/11/amazon-plans-to-spend-700-million-to-retrain-a-third-of-its-workforce-in-new-skills-wsj.html

2019-07-11 11:39:43Z
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