The European Union announced it has set up an “International Contact Group,” including members of the EU as well as four Latin American countries, to help find solutions to the ongoing political crisis in Venezuela. The group, set to meet in Uruguay on Thursday, will pressure Venezuela’s current president to set a date for new elections. Lourdes Casanova, academic director of Cornell University’s Emerging Markets Institute, says that on top of the uncertain political situation, Venezuela’s economic realities also do not leave much room for easy solutions.

International

Cornell SC Johnson College of Business

Johnson Graduate School of Management

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On Wednesday, the Federal Reserve announced that it was leaving interest rates unchanged and cautioned that the bank will be “patient” in future action on interest rates. Cornell University economist Steven C. Kyle, an expert in macroeconomics and government policy, says that signs of a slowdown in the current economic climate are behind the Fed’s recent change of approach.  

Economics and Business

Cornell SC Johnson College of Business

Dyson School of Applied Economics & Management

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On Friday, the Bureau of Labor Statistics (BLS) will release unemployment figures for the month of May. The report will shed light on a crucial period of coronavirus-related lockdowns, mid-April to mid-May, and the devastating economic consequences for workers across the country. Daniel Alpert, senior fellow and adjunct professor of macroeconomics at Cornell Law School, and Erica Groshen, senior extension faculty member at the Cornell University School of Industrial and Labor Relations, offer their analysis. 

Economics and Business

Industrial and Labor Relations

Law School

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Glen Dowell is a leading corporate sustainability researcher and associate professor of management and organizations at Cornell SC Johnson College of Business. He says GM’s renewable energy commitment can have significant impact.

Industrial and Labor Relations

Cornell SC Johnson College of Business

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Heeyon Kim, assistant professor of strategy and management and organization at Cornell University, studies how social status, reputation and market identity affect the behavior of people in creative industries. In her research, Kim found that the Hollywood myth of the Oscar curse – that careers of actors or their personal lives can be negatively impacted by winning the Oscar – actually existed, but just for men.

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Karl Lagerfeld, fashion designer and creative director of the House of Chanel – among other luxury brands – died in Paris on Tuesday. Mukti Khaire, studies the business of creative industries, including fashion at Cornell University’s SC Johnson College of Business and Cornell Tech. Her book Culture and Commerce: The Value of Entrepreneurship in Creative Industries” details the ways artistic worth is converted to economic value. Khaire, who interviewed Karl Lagerfeld as background for a case study titled: “Coco Chanel: Creating Fashion for the Modern Woman,” says Lagerfeld was wildly creative but also understood business.

Economics and Business

International

Cornell SC Johnson College of Business

Cornell Tech

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Next week, the Commerce Department will release GDP figures for the third quarter. Analysts expect the number to reflect a considerable growth in the U.S. economy overall, with projections putting the increase at about 30%. But Cornell University experts, Daniel Alpert and Steven Kyle, explain why that number fails to provide a true picture of what the country is experiencing.   

Economics and Business

Cornell SC Johnson College of Business

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Spangler Candy Company announced recently they are not producing Sweethearts candies for Valentine’s Day this year. Kathryn LaTour, says stopping production could be positive for the brand but is risky since young consumers will not have the candies to create memories this Valentine’s Day.

Economics and Business

School of Hotel Administration

Cornell SC Johnson College of Business

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On Thursday, the U.S. Bureau of Labor Statistics will release figures for unemployment in the month of June. Cornell experts Erica Groshen and Murillo Campello are available for interviews about the report and the challenges facing the U.S. job market.

Economics and Business

Industrial and Labor Relations

Cornell SC Johnson College of Business

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Thomas Jungbauer, professor of strategy and business economics, and Joseph Halpern, professor of computer science, comment on European Union plans to compete with the growth of tech conglomerates in the United States and Asia, and address ethical concerns in artificial intelligence.

Computing & Information Sciences

Cornell SC Johnson College of Business

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