Business

It rained on Burning Man this week, delaying the start of the experimental, utopian festival in the Nevada desert attended by many technology entrepreneurs and venture capitalists. Burning Man’s usual meteorological challenge is dust storms, so it made a change for the desert to imitate Glastonbury by turning to mud.

Emma Jacobs

Fabrizio Rongione and Marion Cotillard in 'Two Days, One Night'

Fabrizio Rongione and Marion Cotillard in 'Two Days, One Night'

Two Days, One Night, which stars Marion Cotillard as Sandra, a depressed employee in a small solar-panel factory, is a modest and gentle film. Written and directed by Jean-Pierre and Luc Dardenne, Belgian brothers who have won two Palmes d’Or at Cannes, the new release is a modern parable about the impact of management decisions on employees’ lives. Read more

Andrew Hill

Most chief executives think of themselves as rational. Certainly, in the world of closely scrutinised listed companies, it would be unwise for corporate leaders to project any other image.

But, as Manfred Kets de Vries of Insead business school puts it in a new working paper, written with colleague Alicia Cheak, “our everyday lives consist of webs of constantly shifting and irrational forces that underlie seemingly ‘rational’ behaviours and choices – and life in organisations is no exception”. To lead successfully, he suggests, requires a “psychodynamic approach” that seeks to understand the hidden factors motivating teams. Read more

As this month’s centenary of the outbreak of the first world war drew nearer, historians jousted over what the world would have looked like if the bullet Gavrilo Princip aimed at Archduke Franz Ferdinand had missed, or if Britain had not leapt to Belgium’s defence.

Ben McLannahan

The denial from Chugai Pharmaceutical could hardly have been more emphatic.

No, Japan’s number three drugmaker by market capitalisation had nothing to do with news reports that Roche, its 59.89 per cent shareholder, was weighing a buyout of minorities, it announced on Saturday. Then it went on: “Chugai is in no way in the process of reviewing any plan to become a wholly-owned subsidiary of Roche, nor discussing with Roche about such a transaction.” Read more

Emma Jacobs

Max Schireson says no one ever asked him how he balanced work and parenthood

Last week, Max Schireson announced his decision to step down from his post as chief executive of MongoDB, an open source database developer. The reason? To spend more time with his family. It was no euphemism. He really meant it. Read more

Emma Jacobs

Justin Timberlake, pop star and actor, is not typically seen as shedding light on societal divisions. Yet the character he played in a film, In Time, a few years ago, was on to something. Set in a dystopian future, where time is currency, the US has been split into “time zones” based on personal wealth. Timberlake’s character, Will Salas, handsome yet poor, tries to bring down the system.
A new study by the University of California, Berkeley, has found that although time is objectively identical for everyone, time perception is subjective. The authors’ key message is that the more powerful you are, the more time you feel you have. In fact, the authors write, “powerful individuals believe they have control over outcomes that they could not possibly control, such as the outcome of a die roll”.

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In the 1970s you could buy a hippy-ish poster of a bird flying towards a lurid sunset, with the maxim: “If you love something, set it free: if it comes back to you, it’s yours; if it doesn’t, it was never meant to be.” I assumed the slogan had expired along with a taste for joss sticks and tie-dye T-shirts. I am amazed to find it has instead become a formal human resources policy.

Shortly after Philip Clarke made his surprising – and, it turns out, prescient –admission at a conference in March that his days as Tesco chief executive were probably numbered, the boss of another blue-chip British company asked me, worriedly: “Does it sometimes take two CEOs to turn a company round?”

The longest line at the Farnborough International Airshow this week was for a model aircraft. In the absence of the F-35 Lightning, the colossally expensive and accident-prone stealth fighter that was scheduled to be the show’s highlight before an engine failed on a test aircraft, Lockheed Martin brought a replica.

John Gapper

Rupert Murdoch is not exactly putting his money where his mouth is with 21st Century Fox’s unsolicited $80bn offer for Time Warner. By offering non-voting Fox shares as part of the cash-and-stock bid he has made clear that he will not risk his voting grip on his family-controlled company. Read more

Andrew Hill

Madeleine Albright, former US secretary of state, famously said there was “a special place in hell” for women who don’t help other women. But new research suggests that women leaders – and managers from ethnic minorities – will also be damned if they go out of their way to advance people who look like them.

A paper to be presented at next month’s Academy of Management annual meeting says women and non-white leaders who value diversity – and show it through their actions – are “systematically penalised with lower performance ratings” by their bosses. By contrast, valuing diversity earns white men higher ratings for both warmth and performance. The net effect, however, is that the “glass ceiling” is reinforced. Read more

John Gapper

It always pays to scrutinise the small print in grand pronouncements about the future, especially those about the BBC. So I listened intently this morning to Tony Hall, the BBC’s director general, as he set out his plans for more competition in UK television and radio production.

Lord Hall was at City University in London to explain the BBC’s offer to allow independent producers and commercial companies to produce more of its output, in return for letting the BBC’s production arm make programmes for others. Read more

Andrew Hill

The FCA: not to blame for social media caution (Chris Ratcliffe/Bloomberg)

Some British banks have a long way to go with social media. At a conference on Wednesday morning, one institution admitted its tweets were vetted by no fewer than eight different departments before they were sent.

The financial sector’s attitude to social media regulation seems to be a mix of fear and loathing. On a show of hands, only a couple of delegates at the Social Media Leadership Forum, where I was a speaker, revealed they were not scared about using social media, even though most believe it is a great opportunity. In part, this is because companies are waiting for guidance from the Financial Conduct Authority, first promised for early 2014, that the FCA says is now due later this summer. Even after this extended wait, the proposals will be subject to consultation before they are finalised. Meanwhile, other sectors’ social media strategies are evolving at web-speed. Read more

John Gapper

The problems erupting over Google’s implementation of the EU’s new “right to be forgotten” rule were predictable. And I say that because I, among many others, predicted them in May after the European Court of Justice delivered its ruling:

A line will soon form to knock out revealing photographs, bits of tawdry gossip, legal orders, past convictions and anything that anyone finds an embarrassment. Before long, people’s search results will start to resemble official biographies, recording only the facts that they want other people to know, and not the remainder of reality . . . Read more