UK: MANSION TAX @REAL CONSTABLE @BATCHELORSHOW

 By SIMON CONSTABLE

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English: NPS staff, Public domain, via Wikimedia Commons

FRANCE: HEAT WAVE LIFTS @REALCONSTABLE @BATCHELORSHOW

 By SIMON CONSTABLE

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H. de Sarrepont, Hennebert Eugène (1826-1896)., Public domain, via Wikimedia Commons

WSJ: FINANCIAL FLASHBACK Decimal Stock Pricing

A look back at Wall Street Journal headlines from this month in history

• 25 YEARS AGO: Decimal Stock Pricing

A quarter-century ago, in August 2000, the New York Stock Exchange and the old American Stock Exchange began shifting their pricing systems to “decimals” from fractions. At the time, it was a big deal, promising benefits by lowering costs and other innovations.

“It was a watershed moment for U.S. equity markets,” says Daryl Jones, director of research at investment analysis company Hedgeye.

Shortly before the switch, The Wall Street Journal started converting its stock listings to decimal form—starting with its Nasdaq list. (It would take several months until Nasdaq itself went decimal for trading, and the NYSE and Amex fully converted for all stocks.)

The longstanding method of U.S. stock pricing—tracing to the 17th century, in fact—used fractions such as 1/8 of 1/16. For instance, a stock priced at $10 1/16 could move up to $10 1/8. But starting in August 2000, stocks began to be priced in increments of 1 cent, which could allow a price of $10.01 or $10.02, etc. READ more here.

 

Briefings Magazine: ‘We need massive amounts of electricity.’ Nuclear Power’s Sudden Comeback

By SIMON CONSTABLE

More than three-quarters of a century ago, nuclear-powered electricity was born in Chicago. A team of scientists led by Enrico Fermi created the first sustained nuclear reaction. It lit up four light bulbs, a relatively small amount of energy, but it led the way for much more. Indeed, the heyday of building atomic power plants had begun. In 1951, Russia started building a grid-connected reactor, the only one that year. And by 1979, the peak year, 234 plants were under construction globally.

But heydays don’t last forever. While nuclear energy was presented as cheap and clean, its reputation quickly got soiled after some epic disasters. The first, in 1957, was in northwest England at Sellafield nuclear reactor. In 1979, there was a partial nuclear meltdown at US-based Three Mile Island. In 1986, the Chernobyl, Ukraine, plant exploded, immediately killing 31 people. In 2011, a tsunami disabled the cooling system of a nuclear plant in Fukushima, Japan. “Everyone thought nuclear power was safe, then something happened and got everybody concerned,” says Rob Thummel, senior portfolio manager at Tortoise Capital. “That’s kept nuclear on the sidelines; people wanted to shut it down.”

So what is happening now? Read more here.

UK: POTUS ASKS PM AFTER NORTH SEA. @REALCOSTABLE @BATCHELORSHOW

 By SIMON CONSTABLE

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British official photographer, Public domain, via Wikimedia Commons

FRANCE : PLUMS AND BLACKBERRIES, @REALCONSTABLE, OCCITANIE. @BATCHELORSHOW

 By SIMON CONSTABLE

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Bibliothèque nationale de France , Public domain, via Wikimedia Commons

Korn Ferry: AI Job Applications Spur… In-Person Interviews?

By SIMON CONSTABLE

The candidate’s application looked great, and the firm was ready to hire her. Then came a question from one HR rep: Did the candidate actually write the résumé and cover letter, or had AI written them for her?

A new study shows that half of UK-based graduates seeking jobs are using AI to write their applications, up from 38% in 2024. And many HR pros believe the number is even higher, creating a thorny issue as firms try to figure out whether it was the candidate who wrote the great cover letter and list of suggestions—or AI. “Individuals are very cautious about revealing they are using AI, because some employers don’t respond well,” says Bryan Ackermann, Korn Ferry’s head of AI strategy and transformation.

The advantages of applying with AI are well-known. It can increase the number of job applications a person can pump out. More importantly, it may be able to defeat the automated hiring filters companies use—and that applicants need to get through. “The candidate can use AI to get data and shape their application,” says Tim Manasseh, Korn Ferry’s senior partner, EMEA, for global consumer products. READ MORE HERE.