Archive for July, 2017

Sirius XM Holdings Inc-Noreena-Hertz

Please click here to view article from CISION online.

NEW YORKJuly 31, 2017 /PRNewswire/ — Today SiriusXM, a U.S.-based radio company with more than 32 million subscribers, announced the debut of MegaHertz: London Calling hosted by one of the United Kingdom’s most noted and dynamic intellectuals, Noreena Hertz. The program will broadcast live from London starting Monday, August 28 at 1:00 p.m. ET on SiriusXM Insight channel 121.

With her new Insight program, Hertz will become SiriusXM’s first foreign-based host for news and talk programming and will serve as Chief Europe Correspondent across all talk radio channels. Her show, MegaHertz: London Calling, will invite listeners into Hertz’s salon, bringing a powerful variety of voices and opinions from the across the Atlantic.

Each episode will transport listeners into Hertz’s inner circle, an eclectic mix of writers, thinkers, political players, artists, business leaders, comedians, celebrities, and more. During the one-hour live show, Hertz and her guests will discuss and debate topics ranging from news and current events, to pop culture, business, the arts and beyond, as well as provide a unique opportunity to hear European-based perspectives on stories dominating headlines in the United States.

“I’m hugely excited to be launching MegaHertz: London Calling on SiriusXM and beginning a relationship with its listeners,” said Hertz. “The world has never been more vibrant, complex and controversial. I have plenty to say about the big topics affecting us all and will be inviting an eclectic and energetic mix of guests to debate them with me here in the UK and our listeners across America.”

“Designer Vivienne Westwood has said of Noreena’s writings, ‘That is what punk is all about,’ and that is the exact type of energy and attitude SiriusXM subscribers can expect from Noreena,” said Scott Greenstein, President and Chief Content Officer of SiriusXM. “Beyond her reputation as one of Britain’s foremost intellectuals, Noreena will also deliver an irreverent European flair and offer SiriusXM listeners nationwide a fresh perspective from across the pond.”

A respected economist who has graced the cover of Newsweek magazine and was named “one of the world’s leading thinkers” by The Observer, Hertz rose to prominence in the U.K. shortly after graduating college at 19-years-old. Hertz has a PhD from Cambridge University, an MBA from the Wharton School at the University of Pennsylvania, and is currently a Visiting Professor at University College London. She has advised some of the world’s leading business and political figures, regularly chairs sessions at The World Economic Forum in Davos, and has delivered Keynote Speeches at TED conferences and Google Zeitgeist events.

Hertz’s best-selling books The Silent Takeover, IOU: The Debt Threat, and Eyes Wide Open are published in 22 countries. She has written for The New York Times, The Wall Street Journal, The Washington Post, The Financial Times, The Guardian, The Times of London and Wired, and has appeared on flagship television shows on CBS, CNBC, PBS, the BBC, and ITV.

MegaHertz: London Calling will join Insight’s powerful lineup, which includes programs from Pete DominickJohn Fugelsang, and Neil De Grasse Tyson, and features WNYC’s Here’s The Thing with Alec Baldwin and Freakonomics Radio.

SiriusXM recently announced that its 200+ channels – including SiriusXM Insight – are now also available for streaming to SiriusXM subscribers nationwide with Amazon Alexa. Go to to learn more.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world’s largest radio company measured by revenue and has more than 32.0 million subscribers. SiriusXM creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment, and a wide-range of Latin music, sports and talk programming. SiriusXM is available in vehicles from every major car company and on smartphones and other connected devices as well as online at SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM. SiriusXM also provides premium traffic, weather, data and information services for subscribers through SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™. SiriusXM delivers weather, data and information services to aircraft and boats through SiriusXM Aviation™ and SiriusXM Marine™. In addition, SiriusXM Music for Business provides commercial-free music to a variety of businesses. SiriusXM holds a minority interest in SiriusXM Canada which has approximately 2.8 million subscribers. SiriusXM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.

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The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our substantial competition, which is likely to increase over time; our ability to attract and retain subscribers, which is uncertain; interference to our service from wireless operations; consumer protection laws and their enforcement; unfavorable outcomes of pending or future litigation; the market for music rights, which is changing and subject to uncertainties; our dependence upon the auto industry; general economic conditions; the security of the personal information about our customers; existing or future government laws and regulations could harm our business; failure of our satellites would significantly damage our business; the interruption or failure of our information technology and communications systems; our failure to realize benefits of acquisitions or other strategic initiatives; rapid technological and industry changes; failure of third parties to perform; our failure to comply with FCC requirements; modifications to our business plan; our indebtedness; our principal stockholder has significant influence over our affairs and over actions requiring stockholder approval and its interests may differ from interests of other holders of our common stock; impairment of our business by third-party intellectual property rights; and changes to our dividend policies which could occur at any time. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2016, which is filed with the Securities and Exchange Commission (the “SEC”) and available at the SEC’s Internet site ( The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.


low unemployment


Please click here to view article on Noreena’s ITV blog.

Unemployment figures out today reveal that the unemployment rate has fallen to 4.5% – a 42 year low .

This is good news for workers who in such a jobs market can be choosier.

Although they won’t necessarily be paid more. Historically lower unemployment has meant that wages have increased – basic supply and demand.

But despite the record low level of unemployment, today’s data revealed that real wages have continued to fall – the three month average rate of wage growth fell to 1.8% in May from 2.1% in April. Wage growth hasn’t been this low since October 2014.

For many employers, today’s story presents a real challenge – how to keep recruiting the right people when so many are already in work?

And many are worried that their task is about to get a lot harder. This is because low unemployment coupled with the end of free movement of labour that Brexit implies presents a double whammy which is likely to make recruitment significantly harder in the future.

This is especially true for those sectors which rely on the services of low and middle skilled workers.

Such sectors as food manufacturing, hospitality and social care have relatively high percentages of European workers – the hospitality sector employs over 500,000 Europeans.

Should Brexit mean that they could no longer hire Europeans, this would imply significant potential labour shortages in the future.

Premier Inn is a growing UK business. According to its management it is opening on average a new hotel every ten days. 20% of its staff come from outside of the UK, predominantly from Europe.

But despite this Chief Operating Officer Simon Ewins tells me, that he is “not concerned at this moment in time”.

He believes this is because they pay better than the industry norm, provide considerable training and development opportunities to employees, and also because they have in the past few years implemented a policy of looking outside of traditional employment pools within the UK – they have schemes to attract employees straight from school, from amongst the ex military and also ex offenders.

“People can build careers here, both in Premier Inn and in the industry more widely and therefore we think we can attract and retain talent even in a tighter labour market.”

Simon Ewin’s lack of concern bucks the general trend amongst employers (Premier Inn’s relative size and success helps to explain this). In an extensive piece of research conducted by the National Institute of Economic and Social Research and CIPD which surveyed and interviewed over a thousand employers across the country in industries that rely on low and middle skilled employees, researchers Dr Heather Rolfe and Gerwyn Davies found that the majority of such employers are worried about how they will meet their staffing needs in the future and see the hiring of local British workers as a significant challenge.

Premier Inn is a growing UK business Credit: PA

Premier Inn is a growing UK business Credit: PA

With a third of those they interviewed saying that they recruit EU nationals because they simply cannot fill their positions with UK born applicants. Whilst they found that some employers were being proactive.

Dr Rolfe told me: “We have [some] employers saying they’re working much more closely with Job Centres, they’re working with their industry organisations to try to think of ways in which they might attract young people. They’re reviewing their pay and benefits packages as well. So they’re looking at ways in which they might attract more British workers.”

However, what surprised the researchers was that despite this, and despite being aware that Brexit might severely restrict their ability to employ EU nationals, many of those they interviewed were still in ‘wait and see’ mode. In a competitive domestic labour market such as ours and with Brexit looming, ‘wait and see’ may prove a very dangerous strategy.

Please click here to view article on Noreena’s ITV blog.


Cambridge University

The Vice-Chancellor of Cambridge University has intervened over the government’s offer to EU Nationals living and working in Britain. Simply put, he doesn’t think it went anywhere near far enough. And he fears for its impact on the 808-year-old institution.

During my interview with Sir Leszek Borysiewicz, he didn’t mince his words. “We may be fiddling while Rome’s burning”, he cautioned “We have to be very very careful that Brexit doesn’t become Brexodus.”

It comes in the week the prime minister laid out plans to offer ‘settled status’ to EU citizens who had lived in the UK for five years or more.

Although they could stay indefinitely, for Professor Borysiewicz it doesn’t go quite far enough.

Nor did he feel that there was sufficient clarity when it came to what Theresa May had offered. The government needs to recognise the devil is in the detail,” he said.

Brexodus – the Vice-Chancellors phrase for a Brexit exodus – would be a disaster for Cambridge University. Almost a quarter of staff are non-UK EU nationals.

When it comes to Post-Docs, (the young researchers who are the engine of Research & Development) it is even higher. They are typically offered contracts that are far shorter than five years. But the best are often willing to pick from the world’s best universities.

If Cambridge is to continue to stay in the top tier of universities globally it needs to be able to continue to retain and attract the best academics from anywhere in the world.

That’s why Sir Leszek (“call me Boris”) is so concerned. “What is going to be the status of their partners? Of their children?”

He has other concerns too. In the past 10 years Cambridge has received 600 million Euros in EU funding. Although the government has promised to meet any immediate shortfall after March 2019, the whole process is yet to be agreed. Alongside that funding comes collaborations.

It is the lifeblood of universities; 60% of Cambridge’s research comes in the form of collaborative projects with other EU institutions. It can’t allow those ties to be severed. As my interview drew to a close, he raised a wry smile, “that’s before we’ve even touched immigration.”

So is the government listening to this sector’s needs? Well, the Vice-Chancellor told me “It is very difficult to tell”.