Black Enterprise - Money

Stimulus Check Scams Are on the Ris...

Stimulus Check Scams Are on the Rise Amid COVID-19

stimulus check scams
The $2 trillion stimulus bill put in place for the economic relief of those impacted by COVID-19 set off a nation-wide alarm for scammers.
Americans Already Need Another Coro...

Americans Already Need Another Coronavirus Relief Payment

coronavirus U.S. economy
Thirty-one percent of Americans believe their share of the stimulus money will last them less than a month or won't help them through the coronavirus outbreak at all.
Blacks Will Face More Repercussions...

Blacks Will Face More Repercussions From COVID-19 Than Other Ethnic Groups: Report

coronavirus covid-19 black americans
Black Americans will likely face a more devastating aftermath due to the coronavirus, including greater joblessness, bankruptcy, and other adverse outcomes.
Chase Institute Study: African Amer...

Chase Institute Study: African American and Hispanic Families Struggle to Overcome Economic Turmoil

Chase study
A study by the JPMorgan Chase Institute shows African American and Hispanic families have fewer resources available to weather income volatility.
Florida Father Surprises His Four K...

Florida Father Surprises His Four Kids With ATM Business

William Moxey with his children
Florida entrepreneur surprises his four children with an ATM business so they can learn how to run their own business.
Coronavirus Eliminates 10 Years Of ...

Coronavirus Eliminates 10 Years Of Job Growth In One Month

job growth
It took 10 years for the U.S. to create 20 million jobs after the housing crisis and recession. It took just one month for coronavirus to destroy that.

Nassau Guardian

IMF projects 1.75% growth in 2017, ...

IMF projects 1.75% growth in 2017, 2.5% in 2018

The Executive Board of the International Monetary Fund (IMF) projected in its Article IV consultation with The Bahamas that this country's real GDP (gross domestic product) growth will pick up to 1.75 percent in 2017 and to 2.5 percent in 2018, driven in part by a strong U.S. economy, the phased opening of Baha Mar and related construction activity.

The IMF added that post-hurricane reconstruction following Hurricane Matthew last year and an uptick in foreign direct investment-financed projects, should also support The Bahamas' economic recovery. "However, medium-term growth would remain low, reflecting significant structural bottlenecks," the IMF executive board's opinion stated.

"Economic activity remained weak in 2016. Hurricane Matthew, which hit The Bahamas in October last year, significantly impacted tourism activity in 2016 and early 2017. However, completion of the mega-resort, Baha Mar, and post-hurricane reconstruction activity provided a boost to job creation, with the unemployment rate declining to 9.9 percent in May 2017 (down from 11.6 percent in November 2016).

"The opening of Baha Mar in April increased employment further by creating 2,000 new jobs in the three months to July. Inflation remains low and stable.

"Executive directors welcomed the expected pick-up in near?term growth, driven by a stronger U.S. economy and the phased opening of Baha Mar.

"However, they noted that the economy continues to face significant challenges, including from structural bottlenecks and rising public debt."

The IMF directors, however, were receptive to the government's promise of, and strong commitment to, fiscal discipline.

"Continued strong fiscal consolidation and monetary and financial sector policies, as well as deeper structural reforms are necessary to generate stronger growth, improve competitiveness, tackle unemployment and enhance resilience to natural disasters," the directors' consultation statement said.

The IMF, in the statement, "expressed solidarity" with The Bahamas and other countries that are grappling with the impacts of Hurricane Irma.

The IMF also warned against the Bank of The Bahamas (BOB) debacle getting out of hand. The IMF underscored that "finding a permanent solution for Bank of The Bahamas is necessary to reduce fiscal contingencies".

The bank recently shed some bad loans from its portfolio in an effort to improve its position on paper. The bank sold $166 million of toxic loans to a special purpose vehicle that will attempt to liquidate the assets.

Meantime, IMF directors "called for a faster resolution of nonperforming loans to strengthen financial stability and support economic recovery".

Building code one of the most ?stru...

Building code one of the most ?structurally sound and robust? in region, says Sands

President of the Bahamian Contractors? Association (BCA) Leonard Sands asserted that The Bahamas? building code is one of the most ?structurally sound and robust? codes in the Caribbean.

His comments came after Prime Minister Dr. Hubert Minnis asked Minister of Public Works Desmond Bannister to fully review The Bahamas? building code, lamenting that many homes as well as government buildings have not been built to code.

Minnis, in the wake of widespread destruction by Hurricane Irma in the southern Bahamas, has decided to tighten the country?s building code if need be, in order to ensure buildings will be able to withstand the destructive forces of Category 5 hurricanes.

Speaking with Guardian Business recently, Sands insisted that the country?s building code is ?rigid? and also set the standard for construction in other countries.

?It is no secret that after Hurricane Andrew, what happened in Miami-Dade County and other counties in Florida is they looked at The Bahamas? building code and adopted much of their residential and commercial wind load impact on what we already had in place,? he said.

However, Sands did acknowledge that the building code has room for improvement.

?The way that it could be improved is in the dynamics of how we use planning to direct not only our homeowners, but persons who have buildings,? he explained.

?For what is going to be built, I have full confidence in the structure and integrity of The Bahamas? building code, and engineers in this country (local/foreign) would agree we have a very fine building code to withstand hurricanes.

?I think, rather, the challenge we have is? how well thought-out the approach is to properly police and enforce the building code standards.

?You have to imagine, we are a centralized country; all of our resources really are in New Providence.

?It is almost impossible, without an army of inspectors or a regimented strict program, to ensure that every structure that is built adheres to this robust and firm building code.?

Sands agreed that Family Islands ?absolutely? do not get as much attention as New Providence or Grand Bahama in terms of inspecting adherence to the building code.

IMF recommends lower wage bill, sel...

IMF recommends lower wage bill, self-sustaining public corporations

The International Monetary Fund (IMF) Executive Board, in its consultation with The Bahamas, recommended the country, as a top priority, restore fiscal sustainability by cutting current expenditures. The government's wage bill was a top focus for the organization, as well as making public corporations self-sustaining, which has been a continuing issue for the government of The Bahamas.

The IMF, in a summary paper released last week, lauded the government's move to tighten up on government spending and waste. In its latest executive board paper, the IMF encouraged the government to ?adhere to their fiscal consolidation plan to reduce the public debt burden and strengthen external buffers".

It also underscored that ?reforming the National Insurance Board and the civil servants? pension system should support fiscal adjustment and reduce long?term fiscal risks?.

The statement added, "Directors commended the authorities? efforts to strengthen fiscal revenues."

The IMF continued with its suggestion that The Bahamas introduce a low rate income tax over the medium?term. The organization insists this would "help make the system more progressive and protect the needed infrastructure and social spending".

However, Minister of Finance and Deputy Prime Minister Peter Turnquest said the government had no plan to introduce a new tax in The Bahamas, but would look at the IMF's suggestion. He said the government was under no obligation to adhere to the IMF?s suggestions.

IMF directors cautioned the government against introducing exemptions from value-added tax (VAT) and "instead recommended taking advantage of the planned expenditure review to create space for better targeted tools to protect vulnerable households".

Since coming to power in May, the government has taken a strong stance for the improved collection of taxes with a focus on efficiency and reform. It is likely the government will continue to place its focus on VAT collection.

"Directors noted that adopting a fiscal rule, as part of a medium?term fiscal framework, should enhance fiscal discipline," the IMF Executive Board stated.

"To further strengthen fiscal and economic resilience, directors also recommended integrating into the fiscal framework a well?designed savings arrangement as an additional buffer against recurring natural disaster shocks."

Moree: Need to rationalize current...

Moree: Need to rationalize current tax regime before new tax

Senior Partner at McKinney Bancroft & Hughes Brian Moree indicated that there is still a lot of work to be done with The Bahamas? current tax regime before considering a new tax such as an income tax.

Moree?s comments were in response to the International Monetary Fund?s (IMF) suggestion that The Bahamas implement a low rate income tax in an effort to ?strengthen revenue?. The IMF suggested that The Bahamas implement the system while reducing import duties.

Speaking with Guardian Business yesterday, Moree said he thinks it would be ?premature? for the government to contemplate the introduction of a new major tax ?on the backs of the Bahamian people?.

Moree pointed out that value-added tax (VAT) was introduced in 2015, and there is still a significant regime of import duties and other indirect methods of taxation, such as business license tax.

?Before we introduce any new form of tax, it seems to me that we need to rationalize the current tax regime in The Bahamas,? he explained.

?We need to avoid duplication, and we need to ensure that the burden of taxation is not so great as to drive people out of The Bahamas or make it extremely difficult for business to survive.

?I think a major part of any review of our tax structure does have to include looking at a greater reference to existing collection of taxes and introducing creating transparency in terms of how our tax dollars are spent and where our tax dollars are going.

?If you are going to ask Bahamians to pay more taxes, then you are going to have to deliver services, and you have to deliver them in a more efficient way, and you have to be more transparent about how the tax dollars are being used.

?I think there is a long way to go before we start looking at introducing new forms of taxation, whether it be an income tax or any form of tax.?

Moree also insisted that a careful study should be given to the competitive advantages that The Bahamas has to offer as a financial jurisdiction.

?We don?t have three kinds of taxation which exist in many other countries, and those three are income tax, capital gains tax and inheritance tax,? he continued.

?As we try to expand and develop our financial services industry and we try to bring FDI (foreign direct investment) into our country, the government will have to be very confident that by substantially revamping the tax landscape and doing something as major as income tax, that it would not compromise our business model as a jurisdiction and thereby diminish the major competitive advantage in what is a very competitive marketplace.?

BTC launches national text-to-donat...

BTC launches national text-to-donate campaign

Bahamas Telecommunications Company (BTC) will launch a national text-to-donate campaign drive, allowing all Bahamians to participate in fundraising efforts to assist those most affected by Hurricane Irma.

The campaign, themed ?Each One, Reach One?, will allow customers to make a donation to the relief efforts. The process is simple, and customers can give $1.00 by texting the word ?DONATE? to the number ?5115?. Customers can donate as many times as they wish.

Proceeds will go to the National Emergency Management Agency (NEMA). Interim CEO Dexter Cartwright said, ?BTC is known to be a big brother in the community, and we are always willing to help wherever we can. Starting tomorrow, our entire customer base will be able to make a donation to assist those in need. BTC will match every dollar donated and all proceeds will go to NEMA to assist our fellow Bahamians most impacted by Hurricane Irma.?

In BTC?s last text-to-donate drive in 2015, the public contributed nearly $10,000. In turn, BTC, along with its partners, tripled the amount, donating $30,000 to disaster recovery efforts following Hurricane Joaquin. In addition to this initiative, BTC is also working with community partners throughout the country to organize other relief efforts and initiatives.

The Each One Reach One donation drive will end on September 30.

 

IMF: Commercial banks capitalized, ...

IMF: Commercial banks capitalized, still reluctant to lend

Commercial banks in The Bahamas are ?reluctant? to lend, given The Bahamas? low growth environment, despite those banks being well capitalized, the International Monetary Fund (IMF) pointed out Wednesday.

In its ?Staff Concluding Statement of the 2017 Article IV Mission?, the IMF states that The Bahamas has struggled with a stagnant economy since 2012.

However, under these conditions, commercial banks are still able to remain liquid. But with no economic growth, banks have tightened their lending policies.

?As of March 2017, the average capital adequacy ratio stood at 27.8 percent, well above the regulatory requirement of 17 percent, and liquid assets represented 25.6 percent of total assets,? said the IMF.

?Non performing loans (NPLs) declined to 11.1 percent of total private sector loans, down from 14.2 percent in 2015, due mainly to a large disposal of distressed mortgage debt by one institution.

?However, Bank of The Bahamas, a majority state-owned commercial bank, continued to face losses, triggering a new recapitalization by the government in late 2016.

?Despite ample capital and liquidity for the sector as a whole, the stock of commercial bank credit to the private sector has remained flat.

?The loss of correspondent banking relationships (CBR) has not resulted in major disruptions so far.?

IMF noted that strong compliance with anti-money laundering and combating the financing of terrorism (AML/CFT) and tax transparency standards ?should help stem the withdrawal of CBR?.

?It is critical to work closely with the Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force (FATF) to swiftly address the deficiencies in the AML/CFT regime identified in the recent Mutual Evaluation Report (MER),? the IMF added.

?Heightened global focus on tax transparency also calls for efforts to promptly comply with international standards (such as the OECD?s Common Reporting Standard).?

The IMF also asserted the need for banks to ?step-up? loan restructuring efforts in an effort to improve financial stability and ?support economic recovery?.

?An intensification of the restructuring of distressed mortgage debt, including through increased enrollment in the government?s mortgage relief program, should free up additional balance sheet space to support the economic recovery,? the IMF explained.

?Restructuring Bank of The Bahamas is necessary to strengthen its profitability, enhance financial stability and reduce fiscal contingencies.?

Afribiz

There are no news from this channel.

NY Times

Want More Diversity? Some Experts S...

Want More Diversity? Some Experts Say Reward C.E.O.s for It

Only a small number of large companies have tied executive compensation to goals for hiring and promotion of workers from underrepresented groups.
Banks Stockpile Billions as They Pr...

Banks Stockpile Billions as They Prepare for Things to Get Worse

JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.
U.K. Bars Huawei for 5G as Tech Bat...

U.K. Bars Huawei for 5G as Tech Battle Between China and the West Escalates

Banning the use of the Chinese tech giant?s equipment in high-speed wireless infrastructure is a major reversal by Prime Minister Boris Johnson ? and a big victory for the Trump administration.
?Hero? Pay Raises Disappear for Man...

?Hero? Pay Raises Disappear for Many Essential Workers

Several retailers have ended the pay raises and bonuses they gave to employees as an appreciation for their courage and commitment in showing up to work during the pandemic.
Automakers Are Making Cars, but Vir...

Automakers Are Making Cars, but Virus Surge Puts That at Risk

Some workers are calling on the industry to shut down plants in states where virus cases have increased sharply in recent weeks.
Going ?Deep Green,? Office Building...

Going ?Deep Green,? Office Buildings Give Back to the Planet

As technology costs have declined, more developers are creating buildings that can benefit the Earth by tackling pollution and save money by producing their own power.

Trinidad Guardian

There are no news from this channel.

IMF

Structural Forces Weigh on Future U...

Structural Forces Weigh on Future U.S. Growth

While the U.S. economy is doing well, continued solid growth hinges on addressing long-term issues of falling labor force participation, weak productivity, rising income polarization, and high poverty rates, the IMF said in its annual review on the state of the U.S. economy.
Euro Area At The Crossroads: No Tim...

Euro Area At The Crossroads: No Time For Complacency

Recovery in the euro area has strengthened, but the medium-term outlook remains weak and is endangered by lack of collective action, says the IMF in its latest review of the currency union.
South Africa: Latest Outlook Shows ...

South Africa: Latest Outlook Shows Urgent Need for Policy Reforms

South Africa faces significant challenges and needs decisive action to revive growth, the IMF said in its latest annual assessment of the country?s economy.
Poland: Strong Institutions a Must ...

Poland: Strong Institutions a Must For Steady Growth

Poland has been growing steadily over the past years. However, some policies of the new government have dented investor sentiment and could slow down growth, according to the IMF.
Globally Important German Financial...

Globally Important German Financial System is Resilient

The financial system of Germany, home to systemically important financial institutions, has been bolstered by EU-wide and global reforms in the financial sector. At the same time, low interest rates and the ongoing transition to new supervisory and resolution mechanisms may pose risks, according to the IMF.
A Blueprint for Portugal?s Future G...

A Blueprint for Portugal?s Future Growth

Portugal has bounced back from the global economic crisis, but to keep up momentum it will need to carry out additional reforms aimed at boosting growth, generating jobs, and improving competitiveness, according to a new IMF publication on the country?s economy.

Black America Web - Business

The things they saved, 10 years aft...

The things they saved, 10 years after the Virginia Tech shooting

In the decade that has passed since 32 people were fatally shot at Virginia Tech, much has changed for those who were on campus that day or were pulled there by the bloodshed. But the emotional keepsakes from that April morning remain to serve as reminders of sorrow, generosity and heroism.
People across the U.S. demanded to ...

People across the U.S. demanded to see Trump?s tax returns. A day later, he wants to know why.

?I did what was an almost an impossible thing to do for a Republican ? easily won the Electoral College! Now Tax Returns are brought up again?? the president tweeted. He also called for someone to ?look into? the rally organizers: ?The election is over!?
After Trump solicits advice, busine...

After Trump solicits advice, businesses target EPA, Labor Dept. regulations

The president invited American manufacturers to recommend ways the government could cut regulations and make it easier for companies to get their projects approved. Industry leaders responded with scores of suggestions to remove more than 150 regulations that paint the clearest picture yet of the dramatic series of steps that Trump officials are likely to take in overhauling federal policies.
Turkey leader declares victory in v...

Turkey leader declares victory in vote to expand his powers, but results are contested

If the referendum vote stands, President Recep Tayyip Erdogan would gain vast new authority as the unrivaled head of state. Opposition parties quickly demanded recounts of hundreds of thousands of ballots.
As tensions with North Korea flare,...

As tensions with North Korea flare, Trump spends a quiet weekend at Mar-a-Lago

The president was uncharacteristically quiet after North Korea?s latest failed missile launch, leaving it to his team of deputies, as well as Vice President Pence to articulate the administration?s policy toward the totalitarian regime.
Aide: Pence will discuss ?belligere...

Aide: Pence will discuss ?belligerency of North Korea? at every stop of Asia tour

BBC

Clothing and games push up UK shop ...

Clothing and games push up UK shop prices

Consumer price inflation rises slightly to 0.6% in June, although food prices fell.
Asos to repay furlough cash as lock...

Asos to repay furlough cash as lockdown sales rise

The fashion retailer saw group sales increase by 10% as shoppers shifted to online during lockdown.
Firms start price cuts as £4bn VAT ...

Firms start price cuts as £4bn VAT boost begins

Starbucks and McDonald's are the latest firms to cut some prices, but not all businesses can afford to do so.
OnlyFans: 'I started selling sexy p...

OnlyFans: 'I started selling sexy photos online after losing my job'

The number of people signing up to sell adult content online has spiked during coronavirus.
Tesco starts online refillable cont...

Tesco starts online refillable container trial

The supermarket giant is joining forces with Loop in a refillable container scheme.
Should US firms be worried about Ho...

Should US firms be worried about Hong Kong sanctions?

As US President Donald Trump targets China over Hong Kong, firms are being advised to "wait and see".

Diversity Inc.

Mastercard Expands ShopOpenings.com...

Mastercard Expands ShopOpenings.com to the U.S. & Canada, Delivering a Search Tool That Identifies What Stores Near You Are Open for Business

Originally published on mastercardcontentexchange.com. Search solution complements new Digital Acceleration for Small Business global initiative which helps small businesses advance digitally and drive online commerce As businesses seek to draw customers back both in store and online, Mastercard is introducing new tools to support them. Today, Mastercard announced the geographic...

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KPMG Names Management Team to Lead ...

KPMG Names Management Team to Lead Firm Forward

Originally published on home.kpmg. KPMG today announced the leaders of the U.S. firm?s Audit, Tax and Advisory businesses, as well as the new heads of Growth & Strategy and Operations and other key appointments to the leadership team formed by U.S. Chair and CEO Paul Knopp and Deputy Chair and...

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TIAA Launches Programs to Raise Awa...

TIAA Launches Programs to Raise Awareness of Racial Injustice and Support Communities in Need through the ?Be The Change? Initiative

On June 30, TIAA announced new virtual programs designed to raise awareness of racial injustice and support communities in need as a part of the company?s recently launched ?Be the Change? initiative. One is TIAA?s ?Race Against Racism,? an effort in support of The Innocence Project which included more than...

The post TIAA Launches Programs to Raise Awareness of Racial Injustice and Support Communities in Need through the ?Be The Change? Initiative appeared first on DiversityInc.

TIAA Announces New Policy on Transg...

TIAA Announces New Policy on Transgender and Gender Non-Conforming Workplace Standards

1.4 million Americans identify as transgender, and the number is rapidly growing due to an increase in visibility and social acceptance.  As we celebrated Pride Month ? and the recent SCOTUS decision ? TIAA is unveiling a new company policy for transgender and gender non-conforming workplace standards designed to provide associates who...

The post TIAA Announces New Policy on Transgender and Gender Non-Conforming Workplace Standards appeared first on DiversityInc.

Stop TB Partnership and Johnson & J...

Stop TB Partnership and Johnson & Johnson, with support from USAID and The Global Fund, Announce Price Reduction for SIRTURO® (bedaquiline) for Treatment of Drug-Resistant Tuberculosis in Low- and Middle-Income Countries

Originally published on jnj.com. Joint efforts aim to accelerate scale-up of WHO-recommended all-oral treatment regimens ? a transition urgently needed to help protect the health of people with drug resistant-tuberculosis who are particularly vulnerable during COVID-19 pandemic In 2020, the initiative aims to reach at least 125,000 patients and could...

The post Stop TB Partnership and Johnson & Johnson, with support from USAID and The Global Fund, Announce Price Reduction for SIRTURO® (bedaquiline) for Treatment of Drug-Resistant Tuberculosis in Low- and Middle-Income Countries appeared first on DiversityInc.

A Message From Southern Company CEO...

A Message From Southern Company CEO Tom Fanning on Racial Tensions Across the Country

Originally published on southerncompany.com. I want to follow-up on the public statement the Southern Company Management Council issued one week ago regarding our struggle for racial equality across this nation. I want to be very clear about what this company stands for and what our short- and long-term response will be. Racism,...

The post A Message From Southern Company CEO Tom Fanning on Racial Tensions Across the Country appeared first on DiversityInc.

Trinidad Express

There are no news from this channel.

Reuters - Economy

There are no news from this channel.

Jamaica Observer

Red Stripe makes quick and effectiv...

Red Stripe makes quick and effective COVID-19 initiatives

RED Stripe has responded to the outbreak of COVID-19 by taking quick and decisive measures to deal with their team members and by keeping production going during the pandemic.Luis Prata, managing director (MD) of Red Stripe in an interview on Monday with the Business Observer , said the health decisions were guided by the protocols issued by the Government and also from guidelines from Red Stripe's parent company, Heineken.
Jamaica Broilers profits impaired b...

Jamaica Broilers profits impaired by COVID-19

The Jamaica Broilers Group (JBG) recorded a massive 41 per cent decline in net profits ending its 2019 financial year in May, recording $1.4 billion in net profit attributable to shareholders.The poultry processor, which operates in Jamaica, the United States, Haiti, and other Caribbean territories, had a minuscule increase in revenue, which totalled $55.7 billion.
New medical facility opens today in...

New medical facility opens today in Kingston

There is a new family medical facility in Jamaica, Health Renew Medical Center, which is the culmination of determination, financial risk, patriotism and defying the odds.
ATL Automotive and HEART/Trust NTA ...

ATL Automotive and HEART/Trust NTA welcome new apprentices for internship programme

To further develop local talent, ATL Automotive Group through its training department, ATL Academy, in partnership with HEART Trust/NTA, welcomed six students and graduates of local institutions to its internship programme.
HOT TECH NEWS

HOT TECH NEWS

Drone competitionIn another sign that the US does not want to rely on Chinese technology comes news that the US Government and private investors are pushing for more production of drones hardware and software. It follows concerns about the deployment in the US of 5G technology from the Chinese company Huawei.
You're not too old to log on

You're not too old to log on

It is nearly 50 years since the Internet was launched for general use and a whole generation has grown up knowing of nothing else. Yet many of those who lived long before the Internet revolution have embraced the possibilities which surprise many of a far younger generation.

Black Enterprise - Small Business

Sundial CEO: 3 Steps to Taking Your...

Sundial CEO: 3 Steps to Taking Your Business from Mom-and-Pop to the Big Leagues

In an exclusive interview with Black Enterprise, the Sundial CEO shares three vital steps for…
50 Emerging Leaders in Innovation H...

50 Emerging Leaders in Innovation Head to China

Young, diverse American leaders in the innovation economy will meet with 50 of their Chinese…
Will Generation Z Be the Most Entre...

Will Generation Z Be the Most Entrepreneurial Generation Yet?

A new study on millennials and Generation Z shows they have the mindset of an…
Small Business Owners Plan to Hire ...

Small Business Owners Plan to Hire More and Add New Products in 2018

Business PracticesSome 90% of small businesses intend to hire one to two people in 2018, a…
Houston Mayor, Others, Help Provide...

Houston Mayor, Others, Help Provide Additional $28.9 Million to Hurricane Harvey Victims

Continuing efforts to help victims hit hard by the massive storm, the Hurricane Harvey Relief…
Founder of Jamaican Black Castor Oi...

Founder of Jamaican Black Castor Oil Talks Success and Loss

Castor OilLois Hines, the founder of Tropic Isle Living Jamaican Black Castor Oil, opens up about…

NY Times - Small Business

In the Twin Cities? Robust Dining S...

In the Twin Cities? Robust Dining Scene, Few Black-Owned Businesses

In the wake of George Floyd?s killing, chefs and restaurateurs are looking for ways to fix the racial imbalance.
A Black-Owned Distillery in Minneap...

A Black-Owned Distillery in Minneapolis Pushes Forward

From the pandemic to protests to arson, Du Nord Craft Spirits has dealt with repeated turmoil and emerged with a new purpose.
Two Chefs Moved to Rural Minnesota ...

Two Chefs Moved to Rural Minnesota to Expand on Their Mission of Racial Justice

Mateo Mackbee and Erin Lucas left Minneapolis for a small central Minnesota community, where they are using their restaurant, bakery and farm to promote diversity and teach children about food.
Meet the Gleaners, Combing Farm Fie...

Meet the Gleaners, Combing Farm Fields to Feed the Newly Hungry

An age-old tradition suddenly has fresh urgency in the pandemic, delivering surplus produce to Americans who can?t feed their families.
New York Changes Outdoor Dining Rul...

New York Changes Outdoor Dining Rule, Leaving Restaurants Scrambling

Owners who built outdoor seating, following official guidelines, say the city has changed a key rule and cost them money.
The Long, Unhappy History of Workin...

The Long, Unhappy History of Working From Home

As the coronavirus keeps spreading, employers are convinced remote work has a bright future. Decades of setbacks suggest otherwise.

Black Enterprise - Career

Unstoppable: Carla Harris? Leadersh...

Unstoppable: Carla Harris? Leadership Tools for Unprecedented Times

leadership
Morgan Stanley's Carla Harris notes that crisis creates openings for everyone to tap into their inner leadership potential
Black Women Are Taking the Lead at ...

Black Women Are Taking the Lead at Pfizer to Improve Health Disparities in Our Communities

Ann-Marie La Ronde-Richard of Pfizer
Black women at Pfizer are making significant contributions to the company?s innovation and advancing the health of communities of color
What You Need to Know About Filing ...

What You Need to Know About Filing for Unemployment

unemployment
More Americans are qualified for unemployment benefits during the COVID-19 pandemic than people think. Here is what you need to know when applying.
Surviving COVID-19: How To Be Seen ...

Surviving COVID-19: How To Be Seen As An Essential Worker By Your Employer

Be seen as an essential worker
There is no way to become "lay-off proof." However, if you are fortunate to be among those who are still employed, increasing your visibility and showcasing your contributions to the success of your organization may be critical to surviving COVID-19, and thriving professionally and financially once the crisis is past.
Unemployed by COVID-19: Key Strateg...

Unemployed by COVID-19: Key Strategies To Jump-Start Your Career

Unemployed by COVID-19
Unemployed by COVID-19. That is the consequence being faced today by more Americans than ever in the nation's history, with unemployment claims filed to date reaching more than 22 million and counting. If you are in that number, you need to act now to jump-start your career and quickly gain reentry into a job market that will be markedly different than it was just a few months ago, before the coronavirus crisis.
How to Negotiate Fearlessly?Even In...

How to Negotiate Fearlessly?Even In Tough Times

negotiate
New book from Wharton School of Business professor Mori Taheripour tells you how to negotiate fearlessly in times of crisis and win

NY Times

Want More Diversity? Some Experts S...

Want More Diversity? Some Experts Say Reward C.E.O.s for It

Only a small number of large companies have tied executive compensation to goals for hiring and promotion of workers from underrepresented groups.
Banks Stockpile Billions as They Pr...

Banks Stockpile Billions as They Prepare for Things to Get Worse

JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.
U.K. Bars Huawei for 5G as Tech Bat...

U.K. Bars Huawei for 5G as Tech Battle Between China and the West Escalates

Banning the use of the Chinese tech giant?s equipment in high-speed wireless infrastructure is a major reversal by Prime Minister Boris Johnson ? and a big victory for the Trump administration.
?Hero? Pay Raises Disappear for Man...

?Hero? Pay Raises Disappear for Many Essential Workers

Several retailers have ended the pay raises and bonuses they gave to employees as an appreciation for their courage and commitment in showing up to work during the pandemic.
Automakers Are Making Cars, but Vir...

Automakers Are Making Cars, but Virus Surge Puts That at Risk

Some workers are calling on the industry to shut down plants in states where virus cases have increased sharply in recent weeks.
Going ?Deep Green,? Office Building...

Going ?Deep Green,? Office Buildings Give Back to the Planet

As technology costs have declined, more developers are creating buildings that can benefit the Earth by tackling pollution and save money by producing their own power.

BBC - Video

How video is challenging the tradit...

How video is challenging the traditional CV

Personal videos are increasingly being used in the job application process.
'Lockdown brought out the workaholi...

'Lockdown brought out the workaholic in me'

A personal trainer, an advertising agency worker and a musician share their experiences of burnout.
Amazon's Jeff Bezos: The richest pe...

Amazon's Jeff Bezos: The richest person in the world

His wealth is now estimated to be $171bn (£137bn), having made billions during the pandemic.
Coronavirus: Yo! Sushi adapts conve...

Coronavirus: Yo! Sushi adapts conveyor belt system

As Yo! Sushi prepares to reopen some restaurants in England, it has had to adapt its conveyor belt system.
Coronavirus: Lake District reports ...

Coronavirus: Lake District reports surge in holiday bookings

With travel restrictions and tight budgets many British people are choosing to holiday at home this year.
Is Facebook losing the boycott batt...

Is Facebook losing the boycott battle?

An advertising boycott wants Facebook to do more about hate speech and misinformation.

CNN

7 things to know before the bell

7 things to know before the bell

Read full story for latest details.
SoftBank and Toyota want driverless...

SoftBank and Toyota want driverless cars to change the world

Softbank and Toyota are partnering on an effort to use autonomous vehicles and other technologies to change the world of transportation.
Aston Martin falls 5% in its London...

Aston Martin falls 5% in its London IPO

Aston Martin is joining the ranks of listed automakers with an IPO that values the British company at more than $5 billion.
Barnes & Noble stock soars 20% as i...

Barnes & Noble stock soars 20% as it explores a sale

Barnes & Noble jumped more than 20% after it said it would review a sale of the troubled company.
Why it's time for investors to go o...

Why it's time for investors to go on the defense

Howard Marks, co-chairman of Oaktree Capital, explains why investors should start treading lightly.
The Toys 'R' Us brand may be brough...

The Toys 'R' Us brand may be brought back to life

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands.

Reuters

Exclusive: Massive spying on users ...

Exclusive: Massive spying on users of Google's Chrome shows new security weakness

A newly discovered spyware effort attacked users through 32 million downloads of extensions to Google's market-leading Chrome web browser, researchers at Awake Security told Reuters, highlighting the tech industry's failure to protect browsers as they are used more for email, payroll and other sensitive functions.
Wirecard scrambles to find missing ...

Wirecard scrambles to find missing $2.1 billion as loan crunch looms

Wirecard's auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm said the delay could cause billions in loans to be called in as soon as Friday.
Trump to nominate lawyer Crenshaw t...

Trump to nominate lawyer Crenshaw to serve as Democratic SEC commissioner

The White House announced on Thursday that President Donald Trump intends to nominate Caroline Crenshaw to fill a Democratic vacancy at the U.S. Securities and Exchange Commission (SEC).
Kroger says demand easing after cor...

Kroger says demand easing after coronavirus stockpiling

U.S. supermarket chain Kroger Co stopped short of raising its annual forecasts on Thursday, saying a coronavirus-driven surge in demand for essential goods was fading as American households reconsider what they have on their shelves.
Coronavirus raises stakes as auto u...

Coronavirus raises stakes as auto unions ready for a fight

The coronavirus crisis has forced carmakers to speed up layoffs that must be matched with hefty payouts and deft negotiation to retain the support of powerful trade unions vital if Europe's auto industry is to manage a shift to low-emission vehicles.
Wirecard investor DWS says has sold...

Wirecard investor DWS says has sold down position, considering legal action

Asset manager DWS, the fund management arm of Deutsche Bank, said it has further sold down its position in embattled German technology company Wirecard and was considering legal action.

NY Times - Economy

A Resurgence of the Virus, and Lock...

A Resurgence of the Virus, and Lockdowns, Threatens Economic Recovery

Hopes for a rebound are endangered by prolonged closures of schools, renewed state restrictions on business and fears of a difficult autumn and winter.
?Hero? Pay Raises Disappear for Man...

?Hero? Pay Raises Disappear for Many Essential Workers

Several retailers have ended the pay raises and bonuses they gave to employees as an appreciation for their courage and commitment in showing up to work during the pandemic.
Automakers Are Making Cars, but Vir...

Automakers Are Making Cars, but Virus Surge Puts That at Risk

Some workers are calling on the industry to shut down plants in states where virus cases have increased sharply in recent weeks.
Want More Diversity? Some Experts S...

Want More Diversity? Some Experts Say Reward C.E.O.s for It

Only a small number of large companies have tied executive compensation to goals for hiring and promotion of workers from underrepresented groups.
Millions Have Lost Health Insurance...

Millions Have Lost Health Insurance in Pandemic-Driven Recession

A new study estimates that more than five million American workers lost their insurance this spring, a number higher than those in any full year of insurance losses.
Are Uber and Lyft Drivers Well Paid...

Are Uber and Lyft Drivers Well Paid? It Depends on the Study

Uber and Lyft hailed a Cornell paper?s conclusion that their drivers make solid wages. But others have questioned the researchers? approach.

Wall Stree Journal

Trump Tells GM to Open Ohio Plant a...

Trump Tells GM to Open Ohio Plant and Stop Output in China

General Motors plans to cut up to 14,800 jobs and end production at certain plants, marking the auto maker?s first significant downsizing since bankruptcy as it tries to adjust to lower demand for passenger cars. President Trump said GM should stop making cars in China and make them in the U.S. instead, in an exclusive WSJ interview.
United Tech to Break Itself Into Th...

United Tech to Break Itself Into Three Companies

The industrial conglomerate has decided to separate itself into three independent companies, breaking apart one of America?s last industrial conglomerates.
Carlos Ghosn Was Too Powerful, Niss...

Carlos Ghosn Was Too Powerful, Nissan's CEO Says

Nissan Motor?s chief executive told employees Carlos Ghosn had too much power as chairman, highlighting the tension welling up between the two men before Mr. Ghosn?s arrest a week ago. The fallout spread Monday as Mr. Ghosn was ousted as chairman of Nissan partner Mitsubishi Motors.
UPS's Holiday Wish: Handling the De...

UPS's Holiday Wish: Handling the Delivery Surge

UPS is hoping that billions of dollars in system improvements this year will help it avoid shipping problems during the online shopping surge of the holiday season.
Oil's Fall Threatens U.S. Shale Dri...

Oil's Fall Threatens U.S. Shale Drillers

Plunging oil prices once again threaten to force American shale drillers to pull back on production, just as they were preparing to unleash a flood of crude.
The U.S. Housing Boom Is Coming to ...

The U.S. Housing Boom Is Coming to an End, Starting in Dallas

Dallas is housing?s ?canary in the mine shaft.? Homes are taking longer to sell, bidding wars are rarer and price cuts are more common as buyers absorb the impact of higher mortgage rates.

NY Times - Money

At a Time of Financial Stress, 401(...

At a Time of Financial Stress, 401(k) Fees Matter More Than Ever

These expenses always eat away at savings balances, but as the pandemic drags on, savers should be especially aware of how to keep them down.
10 Steps to Take to Try to Prevent ...

10 Steps to Take to Try to Prevent Your Own Eviction

Some federal relief is about to expire. Local assistance is spotty. Congress may not act quickly. Here?s how to get help, or help yourself.
Auctions Are Crimped as the Pandemi...

Auctions Are Crimped as the Pandemic Forces Them Online

As sellers look to shed valuable items and buyers look to collect them on the cheap, auction houses are learning to adapt with virtual events.
Tax Day Deadline 2020: Questions an...

Tax Day Deadline 2020: Questions and Answers for July 15 Extension

?It?s just like April 15, but in July.? Here?s what you need to know. And if you?re owed a refund, be prepared to wait: The I.R.S. has a huge backlog.
Help! I?m Owed a Refund, But the Ho...

Help! I?m Owed a Refund, But the Hotel Owner Refuses to Budge

Here we are, wondering aloud about the oversight capabilities of hotel franchises, and what powers they can exert over their thousands of individual owners. Thanks Covid-19.
Why College Students May Qualify fo...

Why College Students May Qualify for Special Covid Pandemic Aid

While traditional unemployment insurance usually leaves out students, they may be eligible for federal pandemic aid. But some states don?t make it easy to get.
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