Homepage / Currency / A welcome upgrade to apprenticeships
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election


A welcome upgrade to apprenticeships

THE Advanced Manufacturing Research Centre (AMRC) in South Yorkshire, England, looks like the very model of a modern industrial site—bright, shiny, airy and clean. In June 1984 it was the site of a traumatic moment in British history—the Battle of Orgreave, when picketing miners clashed with police as they tried to stop lorries collecting supplies from a coking plant. The incident symbolised Britain’s post-war record of industrial decline and bitter strikes.

The old coking plant is long gone. In its place is a promising attempt to create jobs for a new generation of workers, and to tackle an ancient and ridiculous British class divide. An important part of this divide is that universities have long been seen as a place for academic subjects, calling for essays and equations. People who got their hands dirty making stuff did not go to college. But as of last autumn apprentices at the AMRC have been able to study for degree courses. When they graduate they will have an engineering degree from Sheffield University in mechanical manufacture, maintenance engineering or manufacturing technology.

  • Why Japan is going to accept more foreign workers

  • Arab states are losing the race for technological development

  • Why art exhibitions are returning to domestic settings

  • Transcript: Interview with General Mark Hicks

  • Trans-inclusive feminist voices are being ignored

  • A British traveller’s travelogue

The centre is one element of an attempt by the British government to overhaul the apprenticeship system by mimicking German success. More than half of young Germans take an apprenticeship qualification. The youth-unemployment rate in Germany is much lower than in other European countries; its manufacturing prowess is widely envied.

The results of the British effort have been mixed so far. The number of Britons taking apprenticeships has dropped by 28% in the year since a complex new levy on businesses was introduced. But turning apprenticeships into degrees has been a success: around 100 colleges and universities are now offering the option.

The idea of manufacturing research centres is copied from Germany’s Fraunhofer institutes. As well as the AMRC in Sheffield, Britain has a range of high-value-added manufacturing centres, part-funded by the government, including sites at Coventry in the Midlands and Strathclyde in Scotland. American policymakers are also intrigued: they adopted the idea in 2012.

The Sheffield centre was established in 2001 with Boeing as the founding partner. Leading manufacturing firms such as Rolls-Royce and Airbus are also involved. The centre is not just a pipeline for young talent; it also acts as a problem-solving institute for member companies. One item on display in Sheffield is a Trent fan disc for a Rolls-Royce engine; the centre reduced the component’s production time by 50%. The AMRC has over 100 member companies, with those in the top tier paying £300,000 ($397,000) a year and getting a seat on the board.

Nikki Jones, who runs the apprentice programme, says that the centre works with employers to make sure the apprenticeships meet their needs. To take one example, employers said trainees needed to be taught both hydraulics and pneumatics. Over 300 firms send apprentices to be trained at the site, with 195 on a course at any given time. Around 1,000 have passed through the site; the first 14 degree apprentices will qualify in 2021.

The draw for the youngsters is clear, too. They go back to their employers regularly to hone their skills. When they finish the course, 98% of trainees stay in their jobs. Ms Jones works hard to find a diverse bunch of recruits. Teams visit local schools to tell the children about apprenticeships, and over 30% of trainees come from disadvantaged areas.

A focus on sophisticated apprenticeship programmes is a long-overdue change in Britain. The question is whether it is enough. Ms Jones says she would happily double the number of trainees at the site, but that would still be a drop in the bucket when half a million children leave school each year.

Perhaps more important than the numbers is the change in attitude that the degree apprenticeships represent. The British enthusiasm for “academic” subjects has always smacked of the Victorian era, when young gentlemen were expected to get a well-rounded education so they could keep up a conversation in polite society. To the extent that vocational education was promoted, it was in professions like law and medicine. Work in manufacturing was something for the lower classes.

In the long run, that attitude has produced too many graduates in subjects such as PPE (politics, philosophy and economics) and not enough engineers. That may help explain a lot, from Britain’s poor productivity record to the Brexit mess. Too much theory, not enough practice.

Source: economist
A welcome upgrade to apprenticeships

Comments are closed.