Take care with US job advertisements

Hard to believe, but a US recruitment firm has been accused of racism after posting a job advertisement stating that it would prefer to hear from white candidates.

The US Equal Employment Opportunity Commission (EEOC) is responsible for enforcing federal anti-discrimination laws. According to the EEOC, it is “illegal to discriminate against a job applicant or an employee because of the person’s race, colour, religion, sex… national origin, age, disability or genetic information.”

Seems everyone is listing their shares

WeWork, a US Shared office provider, has filed paperwork to list its shares on the US stock market as it seeks further funds for expansion. The company has yet to make a profit, with 2018 losses doubling to $1.9bn. Ratings agencies have given it a “junk” or risky credit score because it has borrowed heavily to fund its expansion.

The company has said it filed its registration for the public stock market listing confidentially in December. The confidential filing allows firms to commence the listing process before providing key information about their finances.

SoftBank invested $2 billion in WeWork in January 2019 at a time the company was reportedly seeking $16 billion.

Stock market valuations in excess of $1 trillion

Three US public firms to have exceeded stock market valuations in excess of hit $1 trillion mark: Apple, Amazon, and now Microsoft.

The company continues to be best known for its Windows operating system, but it makes more money from its Azure cloud services and Office software package. In 2018, Windows brought in about 18 percent of Microsoft’s revenue, while Office accounted for 25 percent. The Xbox division brought in about nine percent while hardware including the Surface tablets accounted for about five percent. The Bing search engine is surprisingly profitable as its data is to be found in a number of the latest smart speakers including Amazon’s Alexa.

Diversification is helping United Technologies

United Technologies (UTC) is experiencing robust demand for aircraft parts and is seen as one of the manufacturers better placed to ride out the fallout of the Boeing 737 MAX groundings. The acquisition of Rockwell Collins, an aero parts maker, has helped to cushion the impact from Boeing’s reduction of production rates for its best-selling jet. UTC also makes Otis elevators and Carrier air conditioners.

More US drones on their way

Wing Aviation (a unit of Alphabet) has received approval from the Federal Aviation Administration (FAA) to commence to delivering goods by drone later this year. This means Wing can begin a commercial service delivering goods from local businesses to homes, which includes flights beyond visual line of site and over people. The FAA has said certification is good for two years. One pilot can operate up to five drones at once and only during the day. Drones cannot carry hazardous materials or hover over people.

In January 2019, the FAA proposed rules that would allow drones to operate over populated areas and end a requirement for special permits for night use. The FAA is also reported to be considering additional rules in response to public safety and national security concerns as it works to integrate drones with airplane traffic.