The New Jersey Department of Labor and Workforce Development has fined Uber $649 million over unpaid employment taxes for the company's drivers. Uber maintains that gig workers are "independent contractors in New Jersey and elsewhere," spokeswoman Alix Anfang said.
The economy remains strong, and feelings of global uncertainty are commonplace but don't cause economic disruption, argues JPMorgan Chase CEO Jamie Dimon, with the 1970s oil crisis being a notable exception. He also discusses in this interview the aftermath of the financial crisis and the feeling that some bad actors went unpunished. "But also at the same time, because we were strong, we bought Bear Stearns, we saved 15 [thousand] or 20,000 jobs," he says.
PayPal CEO Dan Schulman believes every country presents its own business challenges, so entering China isn't particularly unusual for the company. He also talks about the future of payments, which he believes will be entirely digital, and PayPal's renewed focus on being present in physical stores. "What I'm beginning to see right now is so that you can do different things now by tapping a phone. ... And as a result, you'll see PayPal increasingly become a part of the physical world as well as the digital world," he says.
Leaders have a responsibility to help employees grow but often want to do the work for them instead of asking good questions and implementing a flexible development plan, writes Julie Winkle Giulioni. Good leaders, she writes, "understand that they are the spark that helps ignite insights in others."
Why it matters: As noted above, Evan will be driving the WYWW bus next week, but I am gonna try to check in with a few updates from CME Group's Global Financial Leadership Conference. This year's agenda is full of topics we discuss often in WYWW (space exploration, the opioid crisis, the data economy, etc.) If you have any questions you want asked of any of the speakers on the agenda, send them my way. I can't make any promises, but I'll do my best to ask them.
Team members who fear their leaders are less creative, less thoughtful and less compliant, writes Harrison Monarth. "A leader who can inspire her staff with her vision can get their full commitment without resorting to scare tactics," Monarth writes.
McDonald's and other restaurants and retailers may need to rethink their cashless kiosks as franchisees and customers balk. Cashless stores have many advantages, including convenience and lower labor costs, writes Kayla Matthews, but could put low-income shoppers at a disadvantage.
Employees who hide or hoard their knowledge generally feel unsafe at work and are often cynical about their employer, according to studies conducted by Flinders University professor Zhou Jiang. He suggests using anonymous surveys and communication campaigns to increase psychological safety and identify employee feelings about their jobs.
Professional speakers can build a personal brand by getting clear on the image they wish to project and deciding what they want to create, build or do, writes Amy Boone. "Today's speakers have to be masters of our multi-media world, shaping and creating perceptions that will lead to greater audiences and opportunities," she writes.
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