A recent survey showed 80% of construction companies are having a tough time filling hourly craft positions. Some firms are looking to technology to help ease labor shortages. Among technological innovations being used are building information modeling, drones, GPS and 3D printing, the survey found.
Only 5% of millennials are interested in an insurance career, and many of them are turned off by the industry's clunky and outdated technology, writes Brian Berns. Insurers must understand employees' needs and update technology to meet those needs, he explains.
Current conditions bode well for the outlook for lodging and resorts. Corporate profits, one of the main drivers of business travel, increased 5.5 percent last year while household budgets are benefitting from low unemployment and rising wages. Get the full sector spotlight here.
Nareit's annual conference brings together 1,500+ REIT executives, investors and industry professionals for a mix of private meetings, educational sessions and networking events. REITworld will take place Nov. 7-9 at the San Francisco Marriott Marquis. Register today.
Roughly two-thirds of Amazon Prime members surveyed said they would be interested in a free online bank account from Amazon if one were available, and 43% of the company's regular customers said the same. Amazon reportedly is in discussion with banks about offering a product similar to a checking account.
Companies that rely too much on singular executives rather than collective leadership struggle to retain leaders and respond to competitive changes, according to a report by EY, DDI and The Conference Board that surveyed more than 25,000 people. Consider using team-based bonuses, hire and promote people known to collaborate and be able to explain the organization's purpose, write Richard Wellins and Evan Sinar of DDI.
The debt of companies, governments and households worldwide exceeds levels before the collapse of Lehman Brothers, says Hyun Song Shin, research chief at the Bank for International Settlements. Asset managers have responded to low interest rates by pursuing higher returns from leveraged loans to businesses already carrying substantial debt, he says.
European Central Bank policymaker and Bank of France Governor Francois Villeroy de Galhau urges agreement on a backstop for a proposed bank-resolution fund by year-end. The EU agreed in June to let the fund lend to ailing banks, but Villeroy de Galhau says that details are unresolved and that swift decision-making is necessary so the fund acts effectively.
HNA Group, Deutsche Bank's biggest investor, is expected to dispose of its stake, prompting speculation of how the divestment would go. The indebted Chinese conglomerate reportedly is under government orders to cut debt and to focus on core activities.