Finance sector regains lost ground
For the first time since the 2008 credit crisis, banks and other financial companies are close to regaining their position as the stock market’s biggest industry. The finance sector now makes up 16.8 percent of the S&P 500—double its share in 2009, and just behind the tech industry’s 17.6 percent.
Bloomberg.com
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U.S. workweek shrinks
The average U.S. workweek has shrunk by nearly 12 percent since 1964, from more than 38 hours a week to fewer than 34 in 2013. The decline is largely due to the growth in part-time employment, spurred by the surge of women into the workforce and the proliferation of restaurants and retail establishments.
CNN.com
Compact digital cameras lose to smartphones
Sales of compact digital cameras have plummeted 42 percent in the first five months of this year, as smartphones become the clear preference for taking and sharing photos.
The Wall Street Journal
Job growth in July exceeds predictions
Businesses added 200,000 jobs in July, according to payroll firm ADP. That exceeded economists’ predictions of 180,000 additional jobs. Most of the new jobs were in small businesses and professional and business services. But manufacturers slashed 5,000 jobs thanks to a euro zone recession and federal budget cuts.
USA Today
Beware of bouncing a check
More than a million low-income Americans have been denied bank accounts by the nation’s largest institutions as a result of internal databases that track and blacklist customers who have “relatively small mistakes”—like bounced checks and overdrafts—on their record.
The New York Times
