Alibaba fires manager over sexual assault, Jefferies raises salaries, vaccine passports on Norwegian Cruises
Julie Hyman breaks down Monday’s business headlines, including: Alibaba firing a manager over allegations of sexual assault, Jefferies raising junior banker salaries to $110K, and a federal judge ruling in favor of Norwegian Cruise Line to require vaccination proof Florida.
Video Transcript
JULIE HYMAN: Alibaba has fired a manager who was accused by another employee of sexual assault. The woman described the alleged incident in an 11-page account on Alibaba's intranet, which was then shared via social media platform, Weibo. The company has come under fire in China for acting only after the accusations became public.
The battle for workers isn't limited to hospitality, restaurants, according to the Wall Street Journal, Jefferies, who will join Goldman Sachs, in offering starting pay of $110,000 to first year analysts that matches the top of the pay scale for junior bankers. JP Morgan, Citigroup, and Morgan Stanley earlier this year raised their first year pay to $100,000 from $85,000.
Jefferies has turned up its fight for talent as it has climbed to eighth highest on the league tables of total investment banking revenue. And Norwegian cruise line will be permitted to require passengers provide COVID vaccination documents, that follows a federal judge's ruling yesterday. The company had sued the State of Florida, which passed a law prohibiting businesses from requiring vaccination proof. Norwegian's first trip from Florida scheduled to depart Miami on August 15.
Meanwhile, Florida's coronavirus case count is rising at nearly the fastest rate in the nation. It's up 84% over the past two weeks to a daily average case count of more than 19,000.
