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Mark Gongloff
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Mark Gongloff is managing editor for business and technology at The Huffington Post. He was previously a reporter, editor and blogger at The Wall Street Journal and CNN/Money. He can be reached at Mark.Gongloff@huffingtonpost.com. Follow him on Twitter at @markgongloff

Entries by Mark Gongloff

Sony Hack A Reminder To Stop Saying Stupid Things In Email

(22) Comments | Posted December 18, 2014 | 3:47 PM

One of the most shocking revelations to come out of the Sony hack is that people are still saying stupid things in email.

For the zillionth time: You have to assume that everything you write in an email, instant message, or text -- any written communication, really -- will be...

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Cuban Cigars About To Become Legal Again

(178) Comments | Posted December 17, 2014 | 12:22 PM

It’s the end of an era: Cuban cigars are about to become legal again in the U.S.

President Barack Obama’s loosening of trade and diplomatic relations with Cuba, announced on Wednesday, includes a provision that lets American travelers to Cuba bring back $400 worth of Cuban goods, $100...

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ルーブル暴落、1998年のロシア金融危機よりも危機的な事態になる可能性

(2) Comments | Posted December 17, 2014 | 1:06 AM

原油価格の急落と経済制裁によって、ロシア経済が崩壊の危機に瀕している。「ウラジーミル・プーチンのような独裁者には自業自得だ」と思う人もいるかもしれないが、この影響は世界中に波及するおそれがある。

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Why You Should Care About The Collapsing Russian Ruble

(713) Comments | Posted December 16, 2014 | 8:50 AM

Plunging oil prices and economic sanctions have pushed Russia's economy to the brink of collapse. "Couldn't happen to a nicer dictator than Vladimir Putin," you might be thinking, but it could have repercussions for all of us.

Russia's currency, the ruble, crashed to record lows against the U.S. dollar on...

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Bank Analyst Actually Uses 'I Can't Breathe' As Title Of Research Note

(3) Comments | Posted December 10, 2014 | 11:22 AM

There are appropriate occasions to knowingly use the now-loaded phrase "I can't breathe," and there are less-appropriate occasions.

An appropriate occasion: during a march to protest the failure to indict the Staten Island policeman responsible for the death of Eric Garner, whose last words, repeated again and again...

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Uber's Value Just Doubled To $40 Billion In 6 Months (Sorry, Haters)

(41) Comments | Posted December 4, 2014 | 2:06 PM

While many of us have spent the past six months getting mad at Uber, Uber has spent the past six months making $22 billion magically appear.

The ride-sharing app maker, a lightning rod for controversy, announced on Thursday that it has raised $1.2 billion in new funding, bringing...

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社会的格差は800年以上前からずっと続いていることが判明(研究結果)

(8) Comments | Posted November 26, 2014 | 2:32 AM

最新の経済学研究によると、われわれの社会的地位には「流動性」が無い。しかもそれは、1世代の問題ではなく、複数の世代にわたって長く引き継がれているという。多くの人にとっては気の滅入るような話だ。

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You're More Likely To Inherit Your Dad's Social Status Than His Height

(12) Comments | Posted November 24, 2014 | 12:04 PM

Social mobility is a myth.

That is the depressing conclusion -- or, if you're already part of the social elite, the great news -- of a new study by economists Gregory Clark of the University of California, Davis, and Neil Cummins of the London School of Economics. The...

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Everybody's Quitting Their Jobs Now

(77) Comments | Posted November 13, 2014 | 11:51 AM

Quit your job, help the economy.

More than 2.7 million Americans, or 2 percent of all workers, quit their jobs in September, the Bureau of Labor Statistics reported on Thursday. That's the highest "quit rate" since April 2008, when the Great Recession was still a toddler:

This is usually a good sign for the economy. People usually don't tend to tell their bosses to kiss off unless they either a) are trapped in an hypnotic state, Office-Space-style, b) have another job lined up, or c) at least feel pretty confident they can get another job.

Quitting one job for another can also be a good way to get a raise, so a higher quit rate could be a sign that wages are finally going to stop being so stagnant and terrible.

On the other hand, some of the highest quit rates were in low-wage industries like hotels, restaurants and retail. Hopefully those people are getting better-paying jobs, but the raises might not be all that large.

This is basically America now

And the BLS also reported that there are still two unemployed people for every one job opening in America -- much better odds than at the worst of the recession, when nearly 7 people were fighting for 1 job, but still not exactly a sign of the kind of super-tight labor market that could push wages higher.

This chart from the Economic Policy Institute, a think tank focused on labor issues, shows how the job-seekers-to-jobs ratio has risen and fallen in recent years:

not enough jobs

Back in the good old days of 2000, there was roughly one job for every one unemployed person. That's just about job-market nirvana. We're not quite there yet.
...

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Top FT Editor Lambasts Piketty's Book Just Before FT Names It Book Of The Year

(32) Comments | Posted November 12, 2014 | 9:32 AM

The Financial Times has declared that Thomas Piketty's Capital In The Twenty-First Century is the best business book of the year, which kinda-sorta makes up for that time it declared the book was riddled with errors.

In fact, the FT editor who criticized the French economist's blockbuster, 700-page...

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Why Obama And The Democrats Can't Get Any Love For The Economy

(342) Comments | Posted November 4, 2014 | 7:42 AM

The U.S. economy is growing, unemployment is tumbling and stocks are at record highs. So why aren't President Barack Obama and the Democrats getting enough credit for that to avoid a big loss in Tuesday's midterm elections?

Maybe because, for way too many Americans, the economy might as well still...

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Tim Cook Just Changed America In A Way Steve Jobs Never Could

(38) Comments | Posted October 30, 2014 | 11:32 AM

Maybe someday we'll complain about Corporate America's shortage of LGBT executives, just as we complain now about the number of women and minorities at the top. And that will be an improvement -- because once Corporate America barely acknowledged that LGBT executives existed.

That changed abruptly on Thursday, when Apple...

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Fed Ends Stimulus Program With Economy Still On Shaky Ground

(264) Comments | Posted October 29, 2014 | 2:36 PM

Janet Yellen and the Federal Reserve just declared the U.S. economy well enough to leave intensive care, though it is not yet the picture of health.

The Fed announced on Wednesday that it was ending a two-year stimulus program designed to keep interest rates low and boost the...

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All The Wealth The Middle Class Accumulated After 1940 Is Gone

(242) Comments | Posted October 20, 2014 | 11:36 AM

Here's more proof the middle class is dying.

The middle-class share of American wealth has been shrinking for the better part of three decades and recently fell to its lowest level since 1940, according to a new study by economists Emmanuel Saez of the University of California, Berkeley,...

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Janet Yellen: Rising Income Inequality Could Seriously Harm The U.S. Economy

(132) Comments | Posted October 17, 2014 | 10:14 AM

The Federal Reserve is sounding increasingly alarmed about income inequality.

"The extent of and continuing increase in inequality in the United States greatly concern me," Fed Chair Janet Yellen said in a speech at an inequality conference in Boston on Friday. Her comments come just days after Swiss...

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Dow Has Its Worst Day In Years Amid Global Market Freakout

(180) Comments | Posted October 15, 2014 | 10:57 AM

Markets just had an unusually scary day in a famously scary month.

The Dow Jones Industrial Average fell as much as 460 points, or nearly 3 percent, in early afternoon trading on Wednesday, its worst such swoon since September 2011. That was just part of a broad global piñata-whacking that...

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Key Inequality Measure The Highest Since The Great Depression

(622) Comments | Posted October 14, 2014 | 11:20 AM

You know inequality is getting bad when it's making a Swiss bank uncomfortable.

The ratio of wealth to household income in the U.S., a measure of inequality, is the highest it has been since just before the Great Depression, Credit Suisse noted in a 64-page report on global...

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Germany's Austerity Obsession Could Take Down The Global Economy

(110) Comments | Posted October 13, 2014 | 12:40 PM

Austerity is the opposite of the gift that keeps on giving: It just keeps taking and taking.

Germany, the world's homeland for austerity obsession, is learning this firsthand. Its economy has hit a rough patch lately, likely worsened by its adamant refusal to spend just a little bit more money...

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Carl Icahn Asks Apple To Give Shareholders More Money

(15) Comments | Posted October 9, 2014 | 10:16 AM

Billionaire activist shareholder Carl Icahn wants Apple to give away some of its mountain of cash to shareholders.

In a letter to Apple CEO Tim Cook, Icahn said Apple's stock price was still way too cheap at roughly $100 a share. He thinks it's really worth more than...

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China's Economy Just Overtook The U.S. In One Key Measure

(454) Comments | Posted October 8, 2014 | 9:42 AM

This was inevitable, but it still feels momentous: By one important measure, China's economy is now the biggest in the world, topping the United States.

China's gross domestic product is worth $17.6 trillion, adjusted for China's relatively low cost of living, compared with $17.4 trillion for the U.S., the International...

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