Business - Page 11

Trump Admin Pulls $8M CPS Grant Over Equity, Trans Policies

Written By Lexx Thornton The Trump administration told Chicago Public Schools on Tuesday that it will cancel a grant after the school district failed to abolish the Black Student Success Plan, as the U.S. Department of Education’s Office of Civil Rights demanded.  CPS also refused to comply with the federal government’s second demand, that it issue a statement barring transgender students from using bathrooms or competing in sports that coincide with their gender identity.  Craig Trainor, the education department’s acting assistant secretary for civil rights, emailed CPS that “the school district fails to address the harms befalling CPS students while

Starbucks to Cut Jobs, Close 500 Stores in $1B Restructure

Written By Lexx Thornton Starbucks announced a $1 billion restructuring plan Thursday that involves closing some of its North American coffeehouses and laying off more workers as it moves ahead with its “Back to Starbucks” transformation under CEO Brian Niccol.  The number of company-operated stores in North America will decline by about 1% in fiscal 2025, accounting for both openings and closures, the company said in a Securities and Exchange Commission filing. That figure translates to roughly 500 gross closures, according to TD Cowen estimates.  Approximately 900 nonretail employees will be laid off on Friday, Starbucks said. Starbucks estimates that

Trump Seeks Billions in Fees from TikTok U.S. Deal

By Bobby Allyn, David Folkenflik The Trump administration recently approached a coalition of U.S. investors set to take over TikTok’s U.S. operations with an ask: Will the group make a payment to the federal government “in the low billions,” according to a person with direct knowledge of the talks. The response from the investors, which includes tech mogul Larry Ellison, the Murdochs and venture capital heavyweight Andreessen Horowitz, was an unequivocal yes. “Not a single member balked,” said the person, who was not authorized to speak publicly. “They see it as something of a finders’ fee.” Welcome to President Trump’s new business

New Home Sales Surge 20.5% in August Despite High Rates

Written by Lexx Thornton Sales of newly built homes rose a much larger-than-expected 20.5% in August compared with July to the highest level since January 2022, according to the U.S. Census. It is also the largest one-month gain since August 2022. Sales were 15.4% higher than in August 2024.  This count is based on people out shopping in August and signing deals, when the average rate on the 30-year fixed mortgage was higher than it is today. That rate started in August at 6.63%, according to Mortgage News Daily, and didn’t really move much during the month.  The sharp decline

Morehouse Alumni Raise Funds for Real Estate Institute

Executives from the commercial real estate industry—many of them Morehouse College alumni— gathered with friends and colleagues at MetLife Stadium for the third consecutive year to raise funds for the Morehouse Real Estate Institute (MREI), an academic initiative launching this fall. The fundraiser took place during the HBCU NY Classic, where Morehouse faced off against Howard University in a celebration of Black excellence, tradition, and leadership. This year’s event brought the group’s total fundraising to approximately $75,000 since the inaugural gathering in 2022. These contributions, alongside anchor investments from Prologis and Dominium, will help endow the Institute and support its mission to

TransUnion Data Breach Exposes 4.4M U.S. Consumers’ Info

Written By Lexx Thornton One of the three major credit bureaus fell prey to a cyberattack that exposed personal data from more than 4.4 million U.S. consumers.  TransUnion confirmed the breach, which involved a third-party application, on Aug. 28. According to the agency, the attack occurred on July 28 and was discovered two days later.  In a statement, TransUnion said it had “quickly contained the issue, which did not involve our core credit database or include credit reports.”  It’s offering affected customers two years of free access to its myTrueIdentity credit monitoring service. The name of the application was not

Target Boycott Deepens as Foot Traffic Declines Nationwide

Written By Lexx Thornton Foot traffic at retailer Target continued to decline through late summer, reports Fortune, dashing hopes of a back-to-school season turnaround. The new CEO, a longtime company insider, has his work cut out for him.  In August, foot traffic fell 3.3% year over year for Target, with the week beginning August 25 (which included the long Labor Day weekend) dropping 4.6%, marking its worst weekly decline in seven weeks, according to data from Placer.ai. At Target rival Costco, foot traffic was up 5.2% YoY for August, while Walmart was slightly down 0.6%.  Target downplayed the impact of

Disney Faces $3.8B Loss Amid Jimmy Kimmel Suspension

Written By Lexx Thornton According to Culture Base, the company’s market value reportedly dropped by $3.87 billion overnight. While Disney has not officially confirmed the figures, multiple outlets have noted a decline in stock prices. The controversy stems from ABC’s decision to suspend Jimmy Kimmel Live! following the remarks Kimmel made about conservative commentator Charlie Kirk’s assassination.   The decision has fueled an intense online debate, with hashtags such as #BoycottDisney trending on X (formerly Twitter). Many social media users argue the suspension reflects an attack on free speech and comedy. Some subscribers have announced cancellations of Disney+, Hulu, and ABC,

US Dollar Inches Up Ahead of Fed Meet After Hitting 4-Year Low

Written By Lexx Thornton After witnessing a steep decline and falling to a four-year low against the Euro on Tuesday, the US Dollar rose marginally on Wednesday ahead of the US Federal Reserve Meeting.  The dollar index, which tracks the US currency against six major peers, rose 0.20 per cent to 96.84 after touching 96.554 on Tuesday. Despite this uptick, the index has dropped nearly 11 per cent so far this year, and investors anticipate further declines following its recent pause.  On the contrary, the Euro rose 0.5 percent to reach $1.827 on Tuesday, marking its strongest level since September

Federal Reserve cuts rates, signals two more by year-end

Written By Lexx Thornton The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market.  In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4.00%-4.25%.  Newly-installed Governor Stephen Miran was the only policymaker voting against the quarter-point move, instead advocating for a half-point cut.  Governors Michelle Bowman

1 … 9 10 11 12 13 … 44

Covering HBCUs and the African American Community

Facebook Instagram Linkedin

Quick Link

Home
About Us
Sports
Entertainment

Never miss a story!

Error: Contact form not found.

© 2025 HBCU News Corporation – ALL RIGHTS RESERVED.