A group representing more than 100 of the biggest corporations in the U.S. has released a statement updating its definition of the purpose of American corporations.
JOHANNES EISELE / Contributor
- The new statement says corporations shouldn't only be concerned about maximizing shareholder profits.
- Instead, corporations should focus on all of its stakeholders.
- The idea that corporations need only focus on maximizing shareholder profit took hold in the 1970s and has since remained, more or less, the dominant viewpoint on Wall Street.
The writing is on the wall for the oil industry, according to a new report from BNP Paribas.
- The report claims that oil companies will need to produce oil at significantly lower prices if they want to stay competitive with renewables.
- Continuing to invest in oil production represents a multi-trillion-dollar opportunity cost to global society, the report states.
- As renewable energies are becoming cheaper, so are electric cars, thanks mainly to cheaper and more efficient batteries.
North America and Europe peripheral on China's 'vertical world map'
- Europe has dominated cartography for so long that its central place on the world map seems normal
- However, as the economic centre of gravity shifts east and the climate warms up, tomorrow's map may be very different
- Focusing on both China and Arctic shipping lanes, this vertical representation could be the world map of the future
A new study finds that factors influencing where you're born continue to affect your earnings throughout life.
- Children born, raised, and working in big cities tend to be more successful.
- A mountain of British demographic data reveals the correlation.
- Are more successful families created by cities, or are they more likely to move there?
Why Silicon Valley wants to automate 3.5 million blue-collar truck drivers out of existence.
- There are 3.5 million truck drivers in the U.S.; it's the most common job in 29 states. Yet there is a $168 billion financial incentive for Silicon Valley to automate truck drivers.
- The pros? Automation will lower the 4,000-person annual death toll caused by truck collisions, and it will save companies and consumers money.
- The cons? Truck drivers with families to support and loans to pay will soon have to compete with a robot truck that doesn't need to sleep. That kind of economic hardship doesn't exist in a vacuum; it will ripple outward in unexpected ways.