Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
Monday's solar eclipse is a big deal because total solar eclipses are rare. The last time people in the U.S. have been able to see one was in the 1970s.
Much less rare: Press releases from HR firm Challenger Gray, announcing that an event many people in the U.S. are interested in will cost U.S. employers lots of money.
Here's one they sent last week, announcing that Monday's eclipse will cost $694 million in diminished productivity — "much to many employers' dismay" — because people will spend time talking about the solar eclipse, reading about the solar eclipse, or even leaving their desks and venturing outside and attempting to see the solar eclipse.
More from Recode:
Flying-car company Lilium has hired ex-Gett and Airbus execs to help make its on-demand air taxis a reality by 2025
Everything you need to know about Uber's turbulent 2017
Jeff Immelt has emerged as the front-runner to become Uber's CEO
If you don't keep track of press releases from Challenger Gray, you might think this is a Very Big Deal: All that productivity! Kaput!
Don't worry. Turns out Americans piss away their productivity all the time. And we're still here.
In March, we frittered away $2.1 billion in productivity watching college basketball. Last fall, we burnt $17 billion in productivity by playing fantasy football. Christmas shopping from the offices costs another $450 million. Etc.
At this point you may wonder why more people aren't alarmed about the frequent, epic, Productivity Losses Affecting America. Or, you may be thinking that Challenger Gray may not be that serious about the way it estimates Productivity Losses.
I'm going with the latter.
For starters, that's because Challenger Gray's methodology for this stuff doesn't change: It guesstimates how much time Americans Spend Doing Something, then uses data from the Bureau of Labor Statistics to guesstimate what that amounts to in hourly wages. That's it.
Equally important: As Jack Shafer wrote for Slate, all the way back in 2006 (Challenger Gray has been at this for a long time!) Challenger Gray's methodology assumes that workers are working every minute that they're at work. And that diversions like March Madness and eclipses are the only time they lift their gaze from their workstations.
Much more likely: Time Americans spend watching buzzer beaters and eclipses is time they would have spent screwing around on Facebook, or whatever.
Speaking of Facebook:
But give it up to Challenger Gray: Attaching a Big Number to an Event Many People Are Interested In is an excellent way to get people to write about you. Can't hate the player. Especially when you're playing the game.
CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.