Tuesday's economy stories

There's a fake TIME Magazine cover hanging in Trump's country clubs
There's a framed TIME Magazine cover from March 2009 featuring Donald Trump and the headline, "Trump is hitting on all fronts... even TV!" hanging in at least four of his golf clubs — but it's a fake, WashPost uncovered. Trump wasn't on the cover of TIME at all in 2009.

Companies gripe about employee skills, do little about it
There are about 5.7 million unfilled jobs in the U.S., many requiring specific skills, but two thirds of companies complaining of the absence of trained workers— everyone from welders to data engineers — are doing little or nothing about it, according to a new study.
In a report earlier this month, the U.S. Business Roundtable, an association of American corporate CEOs, called the "skills gap" a "national crisis affecting our national future," one likely to stretch ahead a decade or more. Companies like IBM and JP Morgan are running education and training programs. But a study by CompTIA, an association of technologists, says more than half of the companies it surveyed said they struggle even to holistically assess added skills they require.
Bottom line: "The outlook for progress is bleak," the study says, when those in need of skilled workers not only are doing nothing about it, but don't fully understand what ails them.

Anatomy of a presidential attack on CNN
The President of the United States, his media allies and the most fiery right-winger in the Trump clan — Donald Trump Jr. — are going after a major media institution using tactics we've never seen before in presidential politics.
Trump tweeted Tuesday morning: "Fake News CNN is looking at big management changes now that they got caught falsely pushing their phony Russian stories." The President also retweeted a random guy on Twitter named Jeff who published a refashioned CNN logo — "FNN, Fake News Network."
Why these tweets matter: They follow four days of relentless and escalating attacks on CNN, bolstered by legitimate reporting:

Trump mocks CNN for retracting Russia-related story
President Trump went on a Twitter rant Tuesday morning targeting "FAKE NEWS!" CNN who recently had three reporters resign after the network retracted one of their Russia-related articles:
His third tweet, which was deleted then reposted once a typo was corrected: "So they caught Fake News CNN cold, but what about NBC, CBS & ABC? What about the failing @nytimes & @washingtonpost? They are all Fake News!
CNN's reply to POTUS: "@realDonaldTrump CNN just posted it's most-watched second quarter in history. Those are the facts."

Unilever is using algorithms to make key hiring decisions
Unilever is handing over an important part of its hiring process to a computer program in an attempt to increase diversity, The Wall Street Journal reports.
Why it matters: Research shows that humans possess biases that both make us pretty poor judges of a job applicant's capabilities, and also reinforce workplace diversity problems. Companies like Unilever are betting that by removing human judgement from part of the hiring process, they can both attract better and more diverse workers.

Study: Seattle's $13 wage law cost poor workers $125 a month
Last week, Berkeley economists published research showing that Seattle's aggressive minimum wage increases in recent years didn't lead to job losses. On Monday, the anti-minimum wage movement has a study of its own showing the opposite: new research from University of Washington saying that the 2016 minimum-wage hike from $11 to $13 caused employers to shed jobs and cut back on hours, the cumulative effect of which reduced the income of poor workers by $125 per month.
Why such different results? The two studies relied on different methodologies.

Comcast, Charter and Sprint discuss potential deal
Comcast and Charter are talking about partnering with, or potentially buying, Sprint, the Wall Street Journal reports. Each cable giant already said it wouldn't go ahead with wireless deals for a year without permission from the other one — which could also mean a joint agreement of some kind. Two possibilities:
- Charter and Comcast could work with Sprint to provide wireless service. They'd provide funding to Sprint but not buy the company outright, the Journal reports.
- The companies could buy Sprint together.
Worth noting: The talks are reportedly blocking merger discussions for now between Sprint and T-Mobile, a long-watched possible combination that would better allow the companies to compete with Verizon and AT&T.
Why it matters: Communications companies are increasingly seen as needing to do more to compete. Sometimes, as in the case of AT&T, that means a broadband and video company buying content producers. But it could also mean the combination of cable companies and wireless providers. Charter and Sprint declined to comment, and Comcast did not immediately respond to a request for comment.

Smiles and hugs as Trump meets Modi
President Trump and Indian Prime Minister Narendra Modi delivered warm statements in the Rose Garden Monday evening, with Trump saying the U.S.-India relationship had "never been stronger." Trump gave a special shoutout to their social media skills — each has more than 30 million followers on Twitter.
- They took no questions.
- Modi invited Trump and his family to India, and asked Ivanka Trump to lead the U.S. delegation to a global entrepreneurship summit in India.
- Trump said he hoped the Indian-U.S. trading relationship would become "fair and reciprocal." In that vein, Trump said the U.S. looked forward to exporting natural gas to India but wanted to "get the price up a little bit." Earlier in the day, Trump thanked Modi for purchasing American military equipment.
National Enquirer backed Trump. Now it eyes mainstream pubs
The New Yorker's Jeffrey Toobin digs into "The National Enquirer's Fervor for Trump: The tabloid is defined by its predatory spirit. Why has it embraced the President with such sycophantic zeal?"
- Trump has been friends for decades with "David Pecker, the longtime chief executive of American Media, Inc., which owns most of the nation's supermarket tabloids and gossip magazines."
- The Enquirer "made its first political endorsement ever, of Trump, last spring. Cover headlines promised, "Donald Trump's Revenge on Hillary & Her Puppets' and 'Top Secret Plan Inside: How Trump Will Win Debate!'"
- Why it matters: "Pecker is now considering expanding his business: he may bid to take over the financially strapped magazines of Time, Inc., which include Time, People, and Fortune. ... Pecker would almost certainly direct those magazines, and the journalists who work for them, to advance the interests of the President and to damage those of his opponents."







