Business - Page 13

The Fortune 500 now has two Black women CEOs. That’s actually an improvement

By Chauncey Alcorn Thasunda Brown Duckett officially took the helm as the new CEO of TIAA on Saturday, becoming the fourth Black woman ever to head a Fortune 500 company. Her new position is noteworthy for a number of reasons. Duckett and Walgreens’ new CEO Rosalind Brewer, who left Starbucks in March, are the only two Black women currently heading major US corporations. Duckett is the third African American to serve as CEO of TIAA. The 103-year-old money management firm provides retirement account and other financial services for educators and health care professionals as well as government and non-profit employees.

Companies that thrived during Covid hope customers stick around post-pandemic

By Clare Duffy Although 2020 was rough for most companies — to say the least — some bucked the trend. The pandemic forced consumers to learn, workout, socialize and more in new ways. That boosted businesses using technology to improve remote access to their services, and condensed years’ worth of digital adoption into several months. Those business models could have staying power when the pandemic ends. “I think the habits that we have all formed over the past 12 months … are not going to go away,” said Jake Matthews, a senior intelligence analyst at CB Insights covering fitness technology.

Kobe Bryant’s estate ends nearly two-decade deal with Nike

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By Jordan Valinsky The nearly two-decade relationship late basketball player Kobe Bryant and Nike has ended. Bryant was “an important part of Nike’s deep connection to consumers,” Nike said in a statement. “Though our contractual relationship has ended, he remains a deeply loved member of the Nike family,” the company added. Bryant, along with eight other people, including his 13-year-old daughter, died last year in a helicopter crash in California. He was 41 years old. Nike signed Bryant in 2003, which led to one of the most successful sponsorships in history. He was one of an elite group of NBA

Goldman Sachs employs just 49 Black people in top US jobs

By Hanna Ziady Goldman Sachs has just 49 Black executives and senior managers in its US workforce, accounting for about 3% of the total. In a sustainability report published Tuesday, the investment bank revealed data on the racial and gender composition of its US workforce for the first time. The numbers reflect a very low rate of Black employment across almost all roles in the organization. Of 1,548 US executives and senior managers, just 24 are Black men and 25 are Black women, or about 3.2% of the total, according to Goldman Sachs. Black people make up a similar percentage

Target and UNCF launch new Target Scholars Program for HBCU students

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Target is making higher education more affordable this fall for 1,000 African American students at more than a dozen HBCUs by providing scholarships of up to $5,000.  Target has been a longstanding donor and partner of United Negro College Fund (UNCF) for more than two decades. The new Target Scholars Program will provide scholarships to first-year students who are pursuing careers in the areas of technology, leadership or design. The program will also provide four years of academic support that includes mentoring students throughout their college careers as well as internship and networking opportunities.  “For more than 20 years, Target

Spelman College announces first cohort of students chosen for HBCU Scholars Program

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Financial firm Morgan Stanley recently announced it is partnering with HBCUs, offering $12 million to support a total of 60 full scholarships for students enrolled in Howard University, Spelman College and Morehouse College. Morgan Stanley and Spelman College announced the first cohort of students selected for the HBCU Scholars Program.  Five first-year students have been selected to receive four-year scholarships to Spelman. The scholarship is all-inclusive and will cover tuition, room and board in an effort to remove financial barriers to higher education. The goal of the program is to prepare students to be college-educated and financially independent. In addition

Urban League of Middle Tennessee to host virtual event with Marc Morial

The Urban League of Middle Tennessee (ULMT) announced a virtual event it will be hosting featuring Marc Morial, President & CEO, National Urban League.  President Clifton Harris and the ULMT Board of Directors will be a part of this virtual meet and greet on Friday, April 30. This event is a membership fundraiser, so donating to the event will guarantee membership for the year.  The mission of ULMT is to advocate for African Americans and other minorities and disenfranchised groups, helping them secure economic self-reliance.  To register for the event, go to www.ulmt.org/events.

Delaware State University partners with United Airlines

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Delaware State University (DSU) has partnered with United Airlines to offer aviation graduates streamlined job opportunities with the airline.  The partnership reflects United Airlines’ renewed commitment to diversity, equity and inclusion. As the only major airline in the U.S. to have an aviation school, United Airlines’ Aviate Academy plans to train 5,000 new pilots by 2030 with the intent that at least 50% of trainees will be women and/or minorities. “We have a tremendous opportunity to build our commitment to diversity, equity and inclusion in 2021 and beyond,” said Brett Hart, President of United Airlines. “Inspired by the Aviate motto

Apple’s $200 million fund aims to fight climate change and boost business

By Clare Duffy Apple has announced a $200 million investment fund designed to remove carbon emissions from the atmosphere and support sustainable forestry — and to generate financial returns for the company. Called the Restore Fund, the effort aims to remove 1 million metric tons of carbon dioxide from the atmosphere each year, equivalent to the fuel used by more than 200,000 passenger cars annually. The project could also act as an important model for other corporations by demonstrating the ability to profit from investments in the environment. “The idea of having a return is important for the planet,” Apple’s

‘Insecure’ star Issa Rae is helping PepsiCo’s LIFEWTR brand find the next Issa Rae

By Chauncey Alcorn “Insecure” star Jo-Issa Rae Diop, better known as Issa Rae, is a big believer in amplifying creative voices and paying her blessings forward. Less than a month after signing an eight-figure production deal with HBO’s parent company WarnerMedia, the 36-year-old actress and producer is partnering with PepsiCo’s bottled water brand LIFEWTR on its new “Life Unseen” campaign to find and give a platform to the next generation of diverse creatives. The initiative, which launched on Wednesday, includes a contest that will give five artists from the worlds of fashion, film, music and visual arts a chance to

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