Power Couple: Goldman Sachs and Apple have formed the ultimate power couple with their joint credit card venture, which could breath new life into Apple Pay, according to Forbes writer Jeff Kauflin. The card will first be released to the companies’ employees for a trial run before being brought to market. In true Apple form, the card will integrate with the iPhone, Apple Watch, and, of course, Apple Pay and eventually boast features to help consumers set spending goals and provide tips on debt repayment.
Winning Streak: Industrial, financial and energy stocks–cyclical in nature and generally indicative of the overall health of the U.S. economy–are on a winning streak. According to the Wall Street Journal, Boeing Co., Goldman Sachs Group Inc. and Exxon Mobil Corp. have caused the blue-chip stock index to rise for its ninth consecutive week–“the longest such winning streak since 1995,” writes Amrith Ramkumar.
It’s a far cry from last October when the 30-stock index tumbled 19 percent through Christmas. And yet, since December the once bull-market run bounced back 16 percent thanks to the Fed’s pause on raising interest rates and a strong labor market. “Some investors are now wagering the slow but sturdy economic expansion will also continue into the second half of this year and exceed the record from the 1990s,” according to the Journal.
The Future Was Female: Women’s rise in corporate America was strong and steady from the 1970s into the ‘90s — but something changed. That progress has since stalled, writes the New York Times, especially when it comes to women at the very top. During a time where women seem arguably more empowered than ever, it begs the question: what happened? The Times sat down with two Ivy-league professors and researchers for answers.
Democracy Tweets: Cuba is no stranger to putting its people in a choke-hold, so don’t let its recent embrace of Twitter let you think otherwise. Government officials are now being encouraged to use the social platform as a way to communicate their messages–which, in turn, creates a seemingly two-way conversation between “the ruled and the rulers,” writes The Economist.
But after the rise of the viral hashtag #IVoteNo, used by citizens to take a stand against a proposition that no longer covered the recognition of gay marriage, the Cuban government has retaliated with their incredibly innovative counter-hashtag: #IVoteYes. It has quickly turned into a country-wide, government-led campaign that, if opposed, has resulted in detainment and rough-housing by police.
“Cuba’s rulers have learned how to tweet, but they have not forgotten how to shut people up.”
Changing Role of the CFO: Chief Financial Officers are moving from accountants to action-based strategists, according to Wendy Wang for CFO Innovation. The positions that once focused heavily on book-keeping and looking back at a company’s financial progress and transactions are now being passed onto less senior employees. This allows CFOs to focus on innovative technology to automate much of their work.
“It is not enough to know that technology is changing business; CFOs must seek to actively champion technology within their organizations and ensure that it is tracking the most valuable metrics. Adapting to change is rarely easy but being left behind is harder still.”