Five Things You Should Read

August 14, 2019

Steinhoff's recovery plan, 9 ways to keep learning alive, and the $30B reunion merger.

FTC Chief Says Breaking Up Big Tech is 'Very Messy'

Gizmodo

“If you have to, you do it,” Federal Trade Commission Chairman Joe Simons said yesterday. “It’s not ideal because it’s very messy. But if you have to you have to.” As the Verge noted, the growing backlash to tech consolidation follows a long time period in which competition and antitrust watchdogs did basically nothing to stop it—and the pendulum is only slowly swinging back in the other direction.

The $30B Reunion Merger 

Engadget

CBS and Viacom announced yesterday that they will reunite as ViacomCBS. Executives hope the range of assets will help the firm compete with Netflix and Disney. The media giants originally split in 2006, but rumors that the companies might reunite began circulating by 2016, and they've continued over the years. While the agreement is significant, it's too soon to say for sure if the deal will go through.

The Magic Retirement Number

CNBC

On average, Americans believe they need $1.7 million to retire, according to a recent survey from Charles Schwab. However, “the bulk of folks do not get there,” Nathan Voris, a managing director at Schwab Retirement Plan Services, said. More than half of those polled are contributing 10% or less of their salary to their 401(k) — their largest source of retirement savings — with an average annual contribution of $8,788.

Steinhoff's Recovery Plan

Yahoo Finance

In its first presentation to investors since the fallout of a $7 billion accounting fraud, Steinhoff's CEO Louis du Preez said its "only way to survive" was to slim down into a pure investment holding company focused on retail. To achieve that Steinhoff is looking to sell off its non-retail assets and cut jobs at its French retail chain Conforma.

These 9 Skills Keep Learning Alive

Quartz

The act of learning is every bit as important as what you learn and studies show that believing that you can improve yourself improves performance. Skills such as emotional intelligence (EQ), time management, listening, saying no, asking for help, getting high-quality sleep, knowing when to shut up, taking initiative and staying positive will deliver the biggest payoff.