Ripple effect

When Russia invaded Ukraine last year, the Black Sea seemed unlikely to become much of a battleground. The Uk­rainian navy, after all, had only one war­ship.But now, both countries are threatening to intensify the war at sea. Over the past month, Ukrainian mis­siles and drones have repeatedly hit targets across Crimea, culminating in the destruc­tion of the headquarters of Russia’s Black Sea eet in Sevastopol. Russia, meanwhile, with­drew from a pact overseen by the UN whereby it allowed Ukrainian grain ex­ports to pass safely across the sea. It has threatened to sink any cargo ships call­ing at Ukrainian ports in an eort to throttle Ukraine’s maritime trade. The stakes for both countries are high. If the Black Sea truly becomes a war zone, the world will feel the reper­cussions as the grain and oil markets may get rattled again.

(Adapted from “The War In Ukraine Is Threatening To Wash Across The Black Sea,” by The Economist, published on October 5, 2023, by The Economist)

Lying in interviews

At some point, you may have wondered: Can I exaggerate the truth during a job interview? The truth is that persuasive storytelling is a skill, and there is a fine line between crafting a great answer and being dishonest. Here are three tough job interview questions and how to answer them: 1) What’s your current salary? Emphasise your interest in the position and your willingness to negotiate after you’ve both decided that it’s a good fit. If the hiring manager won’t budge, provide a salary range based on the market value of the role. 2) Why did you leave your last role? If you were laid off or fired, be honest about it — but focus on the positives, like why you’re excited about this new opportunity. 3) Are you familiar with [skill] or [programme]? If you don’t know it, acknowledge your willingness to learn and then shift the conversation to your other skills.

(Adapted from “Why You Shouldn’t Lie in a Job Interview,” by Sho Dewan, published by HBR Ascend)

Spending like no tomorrow

Consumers in the US should be spending less by now. Interest rates are up. Inflation remains high. Pandemic savings have shrunk. And the labour market is cooling. Yet household spending, the primary driver of the nation’s economic growth, remains robust. Americans spent 5.8pc more in August than a year earlier, well outstripping less than 4pc inflation. And the experience economy boomed this summer, with Delta Air Lines reporting record revenue in the second quarter and Ticketmaster selling over 295 million event tickets in the first six months of 2023, up nearly 18pc year-over-year. A tough housing market has more consumers writing off something they’d historically save for, while the pandemic showed the instability of any long-term plans related to health, work or day-to-day life. So, they are spending on once-in-a-lifetime experiences because they worry they may not be able to do them later.

(Adapted from “Americans Are Still Spending Like There’s No Tomorrow,” by Rachel Wolfe, published on October 1, 2023, by The Wall Street Journal)

A pink Halloween

Hi Barbie! The classic black-and-orange Halloween palette is turning hot pink this season. Costumes inspired by the movie are selling out and social media is rife with advice on how to channel America’s most famous doll. Barbie is set to be the third-most-popular Halloween costume for adults, after witches and vampires, and among the top 10 for kids. Licensed costumes, off-brand duplicates and do-it-yourself fits will feature heavily in the $4.1 billion Americans will shell out this year on their part of the record $12.2 billion they’ll spend on the holiday. The Halloween takeover, dubbed “Barbieween” by influencers, builds on the economic boost from the Barbie movie’s theatrical run, and consumers are living in it.

(Adapted from “Everyone Wants To Be Barbie for Halloween This Year,” by Ella Ceron, published on September 29, 2023, by Bloomberg)

Published in Dawn, The Business and Finance Weekly, October 9th, 2023