Jan 16, 2020

Gap Inc. will no longer spin out Old Navy

Photo: Justin Sullivan/Getty Images

Gap Inc. is scrapping its plan to spin out Old Navy into a standalone public company, it announced on Thursday.

Why it matters: Gap had initially decided to split up the businesses after struggling to balance the successful Old Navy retailer with the rest of its brands.

What they're saying:

“While the objectives of the separation remain relevant, our board of directors has concluded that the cost and complexity of splitting into two companies, combined with softer business performance, limited our ability to create appropriate value from separation.”
— Robert Fisher, interim Gap Inc. CEO and president

What to watch:

  • Neil Fiske, CEO and president of the Gap retailer, will leave the company.
  • Gap Inc.'s stock price shot up to $20.60 after the company announced the news.

Go deeper: Gap will split into two companies, leaving Old Navy to stand alone

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Gender pay gap among physicians is still a mystery

The gender pay gap among physicians is widening, and researchers are struggling to understand why the difference in the average starting pay is more than $36,000.

The data published in Health Affairs Wednesday was compiled from 1999-2017, showing the average starting compensation at $235,044 for men and $198,426 for women, with a larger gap in more recent years.

  • Still, about 60% of the unadjusted gap in starting salary could be from "differences in specialty and hours spent in patient care."

Go deeper: Add-on expenses for medical students pile up

Keep ReadingArrowJan 23, 2020

The global parental leave paradox

Reproduced from World Policy Center; Map: Axios Visuals

Parental leave is steadily becoming ubiquitous around the world, but workplace cultures in many countries continue to prevent employees — especially fathers — from taking time off.

Why it matters: Paid leave not only benefits families but also makes people more likely to re-enter the workforce, experts say. And in the U.S., as the labor market tightens, robust time off policies for new parents is emerging as one way to attract talent.

Go deeperArrowJan 18, 2020

Trump's former Navy secretary endorses Mike Bloomberg

Former Navy Secretary Richard Spencer and Mike Bloomberg. Photos: Chip Somodevilla/Getty Images; Mark Wilson/Getty Images

President Trump's former Navy Secretary Richard Spencer, who was fired for his handling of the Eddie Gallagher case, announced Friday that he would endorse Mike Bloomberg for president in 2020.

Why it matters: Spencer is the first Trump political appointee to break with the president and support one of his challengers in the forthcoming presidential election.