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Fired Google Engineer Files Complaint With Federal Labor Officials
Capital Markets
The Google engineer who was fired on Monday after penning a diatribe on diversity has now filed a complaint with the National Labor Relations Board, Business Insider reports. There is not much known right now about the complaint filed by James Damore, but a spokesperson for Paul Hastings LLP confirmed that the law firm is representing Google in the case. Damore, who had worked
Google Fires Employee Who Wrote Gender Equality Screed
Capital Markets
James Damore, after penning an incendiary internal memo at Google criticizing the company’s diversity policies, has been fired, reports Bloomberg. The former employee confirmed his sacking in an email, mentioning both that he was fired for “perpetuating gender stereotypes” and is “currently exploring all possible legal remedies.” The memo itself is a 10-page document entitled “Google’s Ideological Echo Chamber,” and
Japanese Politics: Caution Warranted
Capital Markets
Japanese Politics: Caution WarrantedAfter Japan’s Prime Minister Shinzo Abe reshuffled his Cabinet on 3 August, the big question is whether his administration can regain public support. In just the last two months, Abe's public approval ratings have plunged to around 30% – low enough to raise red flags.Financial markets have been calm despite the rapid rise in political uncertainty. Are
Uber Co-Founder: Travis Kalanick Will Not Return as CEO
Capital Markets
After a report over the weekend from The Information indicated that former Uber chief executive Travis Kalanick was exploring a possible shareholder battle to regain some operational control of the ride-sharing company, the person who co-founded Uber with Kalanick has shot down the possibility of a comeback. Garrett Camp, who sits on Uber's board, told Uber employees in an email that
U.S. Tech Giants Founded by Immigrants Now Worth $3 Trillion
Capital Markets
Last week, NexChange published a piece on former Twitter CEO Dick Costolo’s disapproval of a new immigration policy backed by Trump. This week, we offer a look into the statistics behind immigrants’ impact in the tech world, provided by Recode. Today, 13 out of the 25 biggest tech companies in the country include a founder that is a first- or
Report: Travis Kalanick Has Explored Waging a Shareholder Battle at Uber
Capital Markets
About six months after he was ousted as chief executive of Uber, Travis Kalanick has sought the support of some former colleagues - including early employees of the ride-sharing company he co-founded - in a possible shareholder battle, The Information reports. (Subscription required). Although The Information notes that Kalanick is not actively pursuing a shareholder battle at the moment, he
Rant Against Diversity By Google Software Engineer Goes Viral; Company Pushes Back
Capital Markets
A 10-page rant against Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s moves toward diversity has gone viral at a time when Silicon Valley is under fire for its treatment of women and minorities. The memo by an unnamed male software engineer at the company, which prompted a pointed rebuke from Google, comes at a time when the search giant is under federal investigation for alleged wage
A Dim Outlook for Trumponomics
Capital Markets
NEW YORK – Now that US President Donald Trump has been in office for six months, we can more confidently assess the prospects for the US economy and economic policymaking under his administration. And, like Trump’s presidency more generally, paradoxes abound. The main puzzle is the disconnect between the performance of financial markets and the real. While stock markets continue
The Coming Financial Volatility
Capital Markets
Bond investors are from Mars, and central bankers are from Venus – or so suggests the bond market’s negative reaction to signals that the exceptional monetary policy accommodation of the last decade is winding down. Risk-asset markets, however, are ignoring the red flags that the bond markets are waving. Are they right? Today, inflation remains low in much of the
JPMorgan Develops Learning Algorithm Could Turn Tables on HFT
Capital Markets
A recent technical development touted by JPMorgan could provide institutional investors an advantage in today’s algorithmically-driven markets. The world’s largest bank based on revenue is rolling out an automated stock execution platform that uses machine learning techniques to route orders along the most cost effective path, the Financial Times first reported. The technical mechanism for trading large blocks of stock