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Business English News 58 – HR: Hiring Trends

Business English, Business English Vocabulary, Business News, Human Resources / October 20, 2024

In this Business English News lesson on recent hiring trends, we look at business English vocabulary related to human resources and recruitment.

The world of HR is radically different than it was just five years ago. Today, we’re seeing unprecedented movement in the workforce. And as companies compete to recruit and retain talent, several key trends have emerged. One relates to how we evaluate potential recruits, as Forbes explains:

Skill-based hiring is all the rage these days. Companies are moving away from relying solely on degrees and traditional qualifications, instead zeroing in on the specific skills candidates bring to the table. It makes sense, especially in industries where the pace of change is relentless. Skills are easier to match with job requirements, and with AI playing a bigger role in recruitment, it’s more efficient to identify those who can hit the ground running.

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BEN 57 – Robots: Back to the Future

Business English, Business English Vocabulary, Business News, IT and Tech / July 28, 2024

In this Business English News lesson on the resurgence of robots, we look at business English vocabulary related to robotics and technology.

While generative AI has been grabbing the headlines lately, the world of robotics has been developing at a rapid clip. The robot industry has been expanding exponentially, albeit mainly outside the spotlight of the mass media. And, as MSN explains, business is booming:

According to an announcement by the International Federation of Robotics, the stock of operational robots around the world has now reached 3.5 million units, and the value of installations has reached an estimated $16 billion. According to the Federation, robotics now plays a fundamental role in the changing demands of manufacturers around the world.

Of course, talk of robots will immediately call to mind automotive manufacturing, and car-makers were certainly one of the earliest adopters. But it’s not just the automotive industry anymore. Robots are being deployed on smaller scales, alongside humans, outside of assembly-line manufacturing. Robots have found applications throughout the economy, for companies big and small.

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Business English News 56 – Deglobalization

Business English, Business English Vocabulary, Business News / April 1, 2024

In this Business English News lesson on the trend toward deglobalization, we look at business English vocabulary related to economics and global trade.

The past few years have been a very interesting time for the world economy. A pandemic has exposed the vulnerabilities of global supply chains. Geopolitical tensions around the world have intensified, stoking inflation. In response to these disruptive forces, we are seeing a new international dynamic emerge, as Shroders reports:

A decades-long process of globalization is coming to an end as the world becomes more protectionist, favoring opportunities closer to home. Multinational corporations are diversifying where they produce goods and relocating closer to home. This trend represents backtracking from the globalized model of extended supply chains that have defined international trade in the past few decades.

Many saw globalization as an unassailable model for economic development, one that brought universal benefits. And there are many who see deglobalization, as it’s being called, as either regressive or bad for business. But the cracks in the globalized economy are evident.

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Business English News 55 – 2024 Global Economic Outlook

Business English, Business English Vocabulary, Business News, Finance and Accounting / January 7, 2024

In this Business English News lesson on the economic outlook for 2024, we look at business English vocabulary related to the global economy and finance.

At the start of every year, economists love to make predictions. But in such a volatile world, predictions are tough to make accurately. For 2023, many economists forecasted rising inflation and a “hard landing” for the global economy. But that didn’t happen. So, what’s in store for 2024? Will the challenges of 2023 snowball into a recession? Not according to MSN.com:

Although growth is estimated to be even slower in 2024, the worst is perhaps over and headwinds are expected to ease, analysts say. For next year, the IMF expects global gross domestic product to expand by 2.9 per cent, while the World Bank forecasts 2.4 per cent growth. “Looking at 2024, we anticipate uncertainty to persist, with sub-trend growth projected across the world’s economies,” State Street Global Advisor said in its 2024 Outlook report.

All of this amounts to what many people are anticipating as a “soft landing” for the U.S. economy. The fight against inflation isn’t over, and consumers are still taking it on the chin. But turning the inflationary tide didn’t require high unemployment, as is often the case.

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Business English News 54 – Tech Takeovers

Business English, Business English Vocabulary, Business News, IT and Tech / August 1, 2023

In this Business English News lesson we look at business English vocabulary related to tech takeovers or mergers and acquisitions.

Takeovers are a huge part of the tech business, and they’re not always hostile. In fact, many young entrepreneurs build niche companies hoping to be acquired. And for the giants of tech, mergers and acquisitions are a critical growth strategy. With the personalities and egos involved, takeovers keep the news cycle buzzing, as the drama at Twitter has shown. According to the Guardian:

Elon Musk’s $44 billion acquisition of Twitter in 2022 promised the biggest shake-up since the company was founded. The former world’s richest man was keen to take on the project after becoming disillusioned by the site’s perceived biases and content moderation policy. But Twitter’s revolution became a bloodbath in the process, cutting staff by 80% to hone in on the new direction. Then they lost users and advertisers as a lean team struggled to manage disinformation, trolling and impersonation online.

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