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Tag: power

Companies appear to be gaining market power

Companies appear to be gaining market power

Finance
COMPETITION forces companies to keep prices low to attract customers. But if a few firms become powerful enough, they can see off competitors and charge more. A new working paper by Jan De Loecker of the University of Leuven and Jan Eeckhout of University College London presents evidence that this is happening across the rich world.The researchers examine markups—selling prices divided by production costs. At 1, products are sold at cost; above 1, there is a gross profit. Using the financial statements of 70,000 firms in 134 countries, the authors find average markups rose from 1.1 in 1980 to 1.6 in 2016.America and Europe saw the biggest increases (see chart). But in many emerging markets markups barely rose. In China they fell. That suggests rich-world firms may have been able to i...
The power of more than one woman on a board

The power of more than one woman on a board

Finance
The number of female Fortune 500 CEOs is shrinking Three is a powerful number, especially when it comes to putting women in positions of power. Within a boardroom, one woman — or even two — isn't enough to shift a culture, research shows. Although a majority of companies in the S&P 500 have at least one woman on their boards, only 25% have more than two, according to a recent study from PwC. But that's still not enough, according to Vicki W. Kramer, lead author of "Critical Mass on Corporate Boards." "The power of three" is the tipping point that brings change to the company culture, she says. Related: The key to more female CEOs: more female board members "Three really makes a difference," she says. "Women said they felt more comfortable and they cou...
Amazon recalls fire-risk power packs in UK, Europe and US

Amazon recalls fire-risk power packs in UK, Europe and US

Technology
Owners of Amazon's own-brand power bank chargers have been contacted by the firm telling them to stop using them.A recall covering six models of the AmazonBasics-branded product was announced in the US and Canada on Tuesday.A notice posted by the US Consumer Product Safety Commission (CPSC) warned the packs could "overheat and ignite, posing fire and burn hazards".The BBC understands UK and other European countries are also affected.Amazon had received more than 50 complaints of overheated power banks in North America ahead of the move. These included one report of a user suffering chemical burns after coming into contact with battery acid.According to the CPSC, the devices had been manufactured by the Guoguang Electric Company. The watchdog added that about 260,000 units had been sold in ...
Atlanta Hartsfield-Jackson airport power cut strands thousands

Atlanta Hartsfield-Jackson airport power cut strands thousands

World
A power cut at Atlanta's Hartsfield-Jackson international airport on Sunday led to a partial shut-down, affecting tens of thousands of people.The airport is the world's busiest, handling more than 250,000 passengers and almost 2,500 flights every day. Passengers were left in darkened terminals or on board planes.Power is now restored at the airport, but there have been more than 1,000 flight cancellations, with hundreds more scheduled for Monday.Many flights scheduled to arrive from other airports were being diverted elsewhere or held at their departure airport.In a statement, the airport confirmed they had suffered a power cut shortly after 13:00 (18:00 GMT) on Sunday. Flights are expected to resume at 06:00 on Monday (11:00 GMT).Georgia Power, which supplies the airport's electricity, sa...
Avatar therapy 'reduces power of schizophrenia voices'

Avatar therapy 'reduces power of schizophrenia voices'

Science
Media playback is unsupported on your deviceConfronting an avatar on a computer screen helped patients hearing voices to cope better with hallucinations, a UK trial has found.Patients who received this therapy became less distressed and heard voices less often compared with those who had counselling instead.Experts said the therapy could add an important new approach to treating schizophrenia hallucinations.The trial, on 150 people, is published in The Lancet Psychiatry journal.It follows a much smaller pilot study in 2013.Hallucinations are common in people with schizophrenia and can be threatening and insulting.One in four patients continues to experience voices despite being treated with drugs and cognitive behavioural therapy.In this study, run by King's College London and University C...