Almost 5,000 Bangladeshi garment factory workers who sew clothes for global retail giants such as H&M and Walmart have been fired for participating in strikes over low wages, AFP reports. The strikes turned violence earlier this month, and police used rubber bullets and tear gas.
The backstory: Bangladesh is the world’s second-biggest garment exporter behind China, and 4.1 million Bangladeshis are employed in clothing factories. The government said last September that the minimum wage would increase by up to 51% to around $95 per month — the first increase since 2013. But union leaders are demanding $215 due to rising costs of living.
Sen. Kamala Harris’ town hall with CNN’s Jake Tapper Monday night — the first of the 2020 election cycle — was the most-watched single candidate cable news town hall on record, CNN said in a statement.
By the numbers: There was an average of 712,000 adults between the ages of 25-54 tuned into CNN between 10-11 p.m. In total, Harris’ discussion with Tapper — during which she voiced support for Bernie Sanders' "Medicare for All" proposal, among other things — performed at least 75% better than the previous four town halls hosted by CNN.
The future of publishing belongs to those that focus on niche areas partly because the internet has reduced distribution costs to zero, according to Ben Thompson, author of the daily tech and media analysis note, The Stratechery.
Why it matters: We're seeing examples of that play out in real time, with niche publications touting success stories based on the loyalty of hyper-fans.
Ahead of this week's now-delayed report on U.S. GDP, think tank Prosperity Now produced an economic report it says shows how Americans are reacting to the economy.
The big picture: The situation for American families is improving, with increased levels of savings, higher wages and fewer people in dire financial straits. However, the organization argues the data shows many Americans are still hurting in a time of strong economic growth.
BuzzFeed CEO Jonah Peretti said Monday that all laid off workers in the U.S. will receive their unused paid time off and comp days as a part of their severance.
Why it matters: Buzzfeed said last week that 15% of its workforce, roughly 250 employees, would be laid off in an effort to achieve profitability. The layoffs caught employees and the media community by surprise, prompting debate over whether the company has a duty to better compensate its outgoing employees.
The Trump administration's tax cuts, which kicked in at the start of 2018, did not seem to have a major effect on companies' plans for capital investment or hiring, according to a poll conducted by the National Association of Business Economics, reports Reuters.
Why it matters: The Trump administration predicted the tax cuts, which reduced the corporate tax rate to 21% from 35%, would stimulate business spending and job growth. Instead, 84% of corporate respondents said they had not changed their business plans due to the tax overhaul, compared to 81% in the organization's previous survey in October.
