Sky-high prices for luxury rooms

And more of the week's best financial insight

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The smartest insight and analysis, from all perspectives, rounded up from around the web:

Sky-high prices for luxury rooms

Gen Z's wandering ways

Should young workers be more worried about how often they switch jobs? asked Eilene Zimmerman in The New York Times. According to the Employee Benefit Research Institute, "22.3% of workers ages 20 and older spent a year or less at their jobs in 2022, the highest percentage with a tenure that short since 2006." About one-third switched employers within two years. Gen Z's apparent willingness to load up entry points on the résumé "may be a response to what younger employees perceive as corporations' unyielding focus on the bottom line." But recruiters say many employers still regard itinerant candidates with suspicion. In a survey of hiring managers by Robert Half, "77% named job hopping" as their "top concern when evaluating a candidate's resume."

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S&P drops ESG scores in bond ratings

S&P Global said last week it will stop handing out scores to corporate borrowers based on ESG criteria, said Patrick Temple-West in the Financial Times. "The debt rating agency has since 2021 published scores from 1 to 5 for a company's exposure to each element of environmental, social and governance risks." Visa, for example, had received a 3 for its governance performance and 2s for its work in the other departments. "The move comes amid skepticism over ESG ratings" and pressure from conservatives over the use of ESG as an investment criterion. S&P's debt ratings are used by bond buyers, and any negative marks can have a major effect on a company's borrowing costs.

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