Half-Past Four Is the New Five O'Clock in More Efficient Workday
The average American workday now concludes at 4:39 p.m., a notable 36 minutes earlier than it did just two years ago when the clock-out time hovered around 5:21 p.m, according to the latest data from the workforce analytics and productivity software company ActivTrak.
The new report tracked the workplace behaviors of over 200,000 employees across 777 companies. Despite the shorter workday, the data suggests that overall productivity has increased by about 2%. Per ActivTrak, employees now engage in focused, 24-minute spurts of productivity.
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Boston Globe
3 hours ago
- Boston Globe
The best that Bezos' money can buy: A wedding for the ages in timeless Venice
Local flavor? You bet. Beyond that, the team of the world's fourth-richest man has kept details under wraps. Still, whispers point to events spread across the lagoon city, adding complexity to what would have been a massive logistical undertaking even on dry land. On Thursday, dozens of private jets touched down at Venice's airport as yachts pulled into the city's famed waterways. Aboard were athletes, celebrities, influencers and business leaders, converging to revel in extravagance that is as much a testament to the couple's love as to their extraordinary wealth. The heady hoopla recalled the 2014 wedding in Venice of actor George Clooney to human rights lawyer Amal Alamuddin, when adoring crowds lined the canals and hundreds of well-wishers gathered outside City Hall. Advertisement Not so for these nuptials, which have become a lightning rod for protests. Still, any desire to dampen the prevailing fever pitch has yet to materialize. Instead, the glitterati were set to party, and the paparazzi jostling for glimpses of the gilded gala. Whatever happens, it will be a wedding for the ages. Logistics and costs Venice is famed for its network of canals, where gondoliers croon for lovestruck couples and even ambulances are aquatic. But water transport of everything from bouquets to guests makes Venice among the world's most challenging cities for a party, according to Jack Ezon, CEO of luxury travel advisory and event planner Embark Beyond. Advertisement 'It's a very tight-knit community; everyone there knows everyone, and you need to work with the right people,' said Ezon, whose company has put on a dozen high-end events in Venice. 'There's very tight control, especially on movement there with boats.' It at least triples the cost versus staging the same soiree in Rome or Florence, he said. Veneto Gov. Luca Zaia was first to give an estimated tally for the Bezos/Sánchez bash: He told reporters this week the most recent total he saw was between 40 and 48 million euros (up to $56 million). It's an eye-popping, jaw-dropping figure that's over 1,000 times the $36,000 average cost of American couples' weddings in 2025, according to wedding planning website Zola's annual report. Bezos' team has been tight-lipped about where these millions are going. When the youngest son of Asia's richest man married last July, performances by pop stars Rihanna and Justin Bieber pushed up the pricetag. 'How do you spend $40 million on a three- or four-day event?' Ezon said. 'You could bring headliners, A-list performers, great DJs from anywhere in the world. You could spend $2 million on an incredible glass tent that's only there for 10 hours, but it takes a month to build," or expand the celebration to local landmarks. There's no sign Sánchez and Bezos, the former CEO of Amazon, intend to take over any of Venice's tourist-thronged hotspots. Still, intense hand-wringing about the prospect prompted their wedding coordinator, Lanza & Baucina, to issue a rare statement calling those rumors false. Advertisement On Thursday, a string of water taxis cut through the lagoon to bring Bezos, Sánchez and guests to the Madonna dell'Orto cloister as some onlookers cheered. Paparazzi followed in their own boats, trying to capture guests on camera — Oprah Winfrey, Kim Kardashian, Ivanka Trump, Tom Brady, Orlando Bloom — as police on jet skis patrolled. Local media have reported the couple will hold a ceremony Friday on San Giorgio island, across the lagoon basin from St. Mark's Square. Associated Press journalists circling the island Thursday saw workers assembling tents and private security personnel stationed at every pier, including a newly built one. Media have also reported a reception Saturday in the Arsenale, a former navy base best known as a primary venue for the Venice Bienalle. 'No Space' There are some who say these two should not be wed in this city. They characterize the wedding as a decadent display of wealth in a world with growing inequality, and argue it's a shining example of tourism taking precedence over residents' needs, particularly affordable housing and essential services. Venice is also one of the cities most vulnerable to rising sea levels from climate change. About a dozen Venetian organizations — including housing advocates, anti-cruise ship campaigners and university groups — are protesting under the banner 'No Space for Bezos,' a play on words referring to his space exploration company Blue Origin and the bride's recent space flight. Greenpeace unfurled a banner in St. Mark's Square denouncing Bezos for paying insufficient taxes. Activists floated a bald-headed Bezos-inspired mannequin down a Venice canal atop an Amazon delivery box, its hands clenching fake cash. Advertisement Authorities — from Venice's mayor to the nation's tourism minister — have dismissed the outcry, saying it ignores the visibility and economic boost the wedding brings. 'There will be photos everywhere, social media will go wild over the bride's dress, over the ceremony,' Italy's tourism minister, Daniela Santanchè, told the AP. 'All of this translates into a massive free publicity campaign. In fact, because they will spend a lot of money, they will enrich Venice — our shopkeepers, artisans, restauranteurs, hotels. So it's a great opportunity both for spending and for promoting Italy in the world.' Philanthropy As Amazon's CEO, Bezos usually avoided the limelight, frequently delegating announcements and business updates to his executives. Today he has a net worth of $231 billion, according to Forbes. In 2019, he announced he was divorcing his first wife, MacKenzie Scott, just before the National Enquirer published a story about an affair with Sánchez, a former TV news anchor. Sánchez filed for divorce the day after Bezos' divorce was finalized. He stepped down as CEO in 2021, saying he wished to spend more time on side projects, including Blue Origin, The Washington Post, which he owns, and his philanthropic initiatives. Sitting beside Sánchez during an interview with CNN in 2022, he announced plans to give away the majority of his wealth during his lifetime. Last week, a Venetian environmental research association issued a statement saying Bezos' Earth Fund was supporting its work with an 'important donation.' CORILA, which seeks protection of the Venetian lagoon system, said contact began in April, well before any protests. Biller reported from Rome. AP reporter Barbara Ortutay in San Francisco contributed to this report.
Yahoo
5 hours ago
- Yahoo
New study warns that one type of US home foreclosures could surge by staggering 380%: 'Hidden risks'
Weather-related foreclosures across the United States could jump 380% over the next 10 years, reported CBS MoneyWatch. By 2035, weather-driven events could account for up to 30% of all foreclosures, compared with roughly 7% today. The research from First Street, a climate impact analysis firm, shows how rising repair costs and insurance premiums are creating a perfect storm for American homeowners. Weather-driven foreclosures happen when extreme conditions damage homes so badly that owners can't afford the repairs or insurance costs. Unlike traditional foreclosures caused by job loss or financial hardship, these stem directly from floods, hurricanes, wildfires, and other weather disasters. The problem hits families with low and moderate incomes the hardest since most of their wealth is tied up in their homes. When a storm destroys your house and insurance doesn't cover the full cost, foreclosure often becomes the only option. These foreclosures are a concealed financial risk that most lenders don't consider when approving mortgages, per the report. Banks typically look at your income, debt, and credit score but not whether your future home sits in a flood zone or wildfire path. First Street projects lenders will lose $1.2 billion this year alone, with losses climbing to $5.4 billion annually by 2035. For every 1% increase in insurance costs, it estimates foreclosure rates jump by roughly 1% nationwide. "Such losses represent the 'hidden risks' of climate change that lenders often fail to account for in their underwriting practices," CBS MoneyWatch wrote while paraphrasing Jeremy Porter, head of climate implications at First Street. This oversight leaves both homeowners and banks vulnerable when disaster strikes. Florida faces the biggest risk, with eight of the top 10 counties for the highest projected credit losses. Duval County alone could experience $60 million in losses from 900 foreclosures in a severe weather year. Do you think America is in a housing crisis? Definitely Not sure No way Only in some cities Click your choice to see results and speak your mind. However, the impact goes beyond coastal areas. Heavy rainfall and river flooding threaten inland communities too, especially where flood insurance coverage remains spotty. The real problem lies in insurance gaps. The Federal Emergency Management Agency's flood maps cover just under 8 million properties, but First Street estimates nearly 18 million homes face flood risk. That leaves millions of homeowners without proper coverage. "About half the people with significant flood risk aren't mapped into [FEMA's] Special Flood Hazard Area," Porter explained. "So it leads to a state where we have a lot of underinsurance across the country." Properties outside official flood zones saw foreclosure rates 52% higher than those inside protected areas when flooding occurred from 2002 to 2019. "If you don't protect yourselves, then when the event does occur it's completely on you. You end up having to pay out of pocket and you may go into foreclosure," Porter said. When buying a home, ask about flood risk even if you're not in an official flood zone. Consider flood insurance regardless of requirements, and factor potential weather-related costs into your budget. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
New York Post
6 hours ago
- New York Post
Treasury Secretary Scott Bessent asks Congress to strip ‘revenge tax' from Big Beautiful Bill
Treasury Secretary Scott Bessent asked Republicans in Congress on Thursday to remove the so-called 'revenge tax' from President Trump's 'big, beautiful' bill. The provision would grant Trump the authority to tax foreign holdings of US investments as a way to retaliate against countries imposing new taxes on US companies operating overseas. Bessent argued that the provision, known as Section 899, was no longer necessary after the Trump administration reached a deal with G7 nations at last week's summit to exempt US companies from a 15% global corporate minimum tax championed by the Biden administration. Advertisement 'After months of productive dialogue with other countries on the OECD Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests,' the Treasury secretary wrote on X. 'President Trump paved the way for this historic achievement.' Tax writers on Capitol Hill welcomed Bessent's announcement and said the tax would be taken out of the bill. REUTERS 'OECD Pillar 2 taxes will not apply to U.S. companies, and we will work cooperatively to implement this agreement across the OECD-G20 Inclusive Framework in coming weeks and months,' Bessent added. 'I want to thank my G7 counterparts for their partnership and collaboration towards achieving this historic outcome.' Advertisement 'Based on this progress and understanding, I have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill.' The massive piece of legislation is currently working its way through the Senate. Sen. Mike Crapo (R-Idaho), the top Republican on the Senate Finance Committee, said the revenge tax provision would be stricken from the bill. 'At the request of @SecScottBessent and in light of this joint understanding to preserve US tax sovereignty and allow US tax laws to co-exist with the Pillar 2 regime, we will remove proposed tax code Section 899 from the One Big Beautiful Bill Act, and we look forward to active engagement with Treasury on these important issues,' Crapo wrote on X. Advertisement House Ways and Means Committee Chairman Jason Smith (R-Mo.) called the deal a 'major victory for American workers.' Some on Wall Street feared that the provision would discourage global investment in the US. The Senate's version of the revenge tax had been projected to raise more than $50 billion in revenues over 10 years, which would've helped defray the cost of other spending in the bill. Trump has urged Congress to pass the bill by July 4. Advertisement Trump wants Congress to pass his 'big, beautiful' bill by July 4. AP Bessent said the agreement struck with G7 partners ' provides greater certainty and stability for the global economy and will enhance growth and investment in the United States and beyond.' 'By reversing the Biden Administration's unwise commitments, we are now protecting our Nation's authority to enact tax policies that serve the interests of American businesses and workers,' he added. 'We are also preserving our tax base, preventing the loss of over $100 billion in American taxpayer dollars according to Treasury estimates and the non-partisan Joint Committee on Taxation.' 'The Trump Administration remains vigilant against all discriminatory and extraterritorial foreign taxes applied against Americans. We will defend our tax sovereignty and resist efforts to create an unlevel playing field for our citizens and companies.'
