Business - Page 29

US Nears Debt Default as October 18 Deadline Looms

By Matt Egan, The United States could be just weeks away from defaulting on its debt for the first time ever. The $28.4 trillion debt limit was reinstated August 1. Since then, Treasury Secretary Janet Yellen has been keeping the nation’s finances afloat by using emergency accounting maneuvers. Known as “extraordinary measures,” these steps allow the government to borrow additional funds without breaching the debt ceiling. But Yellen warned lawmakers this week that if Congress fails to raise, or suspend, the debt ceiling, the federal government will exhaust those extraordinary measures by October 18. “At that point, we expect Treasury would be left with

Howard MBA Ranks Top 25, No. 3 for Diversity Nationwide

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Written by Misha Cornelius The Howard University School of Business received its highest rankings yet on Bloomberg Businessweek’s list of best business schools. The 2021-22 list published in September ranked Howard University’s Master of Business Administration (MBA) program the No. 23 top business school in the U.S. The school also received the No. 3 ranking on the list’s new diversity index. “It is an honor to be recognized and consistently ranked among the top business schools by Bloomberg Businessweek,” said Howard University School of Business Dean Anthony Wilbon, Ph.D. “This year, we received our highest ranking yet, and it is a reflection of the hard work

Kamala Harris Interview Disrupted by False Covid Scare

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By Oliver Darcy, The office of Vice President Kamala Harris is vexed with “The View” after the false Covid-19 positive tests revealed just before Harris was to appear on the show last week sent the program into chaos, people familiar with the matter told CNN on Tuesday. One of the people explained that Harris’ office required the hosts of “The View” to take a PCR test within 24 hours of the interview. That person said that a representative of the ABC talk show suggested the night before Harris’ appearance that the tests had come back negative. Harris and her staff didn’t learn

Walmart Reports Growth in Diversity and Black Leadership

By Chauncey Alcorn, People of color made up more than 55% of new hires at Walmart between February and July of this year and now occupy more than 25% of the retailer’s officer positions, according to the company’s website and its latest diversity, equity and inclusion report released Friday. That includes at least two African-American officers who joined the company this summer, the company confirmed on Saturday. Chief medical officer Dr. John Wigneswaran in July became one of the latest Black senior or executive level manager to be hired by Walmart. In June, Walmart also hired Capitol One Canada president Jennifer R. Jackson who

Howard, Karat Tackle Interview Access Gap for Black Engineers

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By Howard Newsroom Staff WASHINGTON –  Researchers from Howard University and Karat, the world’s leader in technical interviewing, today released new research exploring key factors that can help more Black software engineers enter the tech industry and excel in their careers. According to the U.S. Bureau of Labor Statistics, Black engineers comprised just 6 percent of all computer programmers in the U.S. in 2020, and this research shines a light on the challenges and opportunities that exist to improve representation. The Interview Access Gap for Black Engineers identifies a number of socioeconomic and systemic barriers young Black talent face to get jobs in tech. The

Many Workers Exempt from Biden’s COVID Vaccine Mandate

By Chris Isidore, Some 80 million private sector employees will be required to get a Covid vaccine or weekly Covid test under the federal rules announced by President Joe Biden last week. But don’t assume that the workers you come in contact with every day will be covered by the mandate, which only applies to businesses with 100 or more employees. In addition to those 80 million workers, there are another 43 million employees who work at companies that employ fewer than 100 people — and who are not covered by that federal mandate. For example, most fast food restaurants are independently-owned franchises,

How America’s Workforce Has Changed Over 40 Years

By Alicia Wallace, America’s workforce is considerably older and more diverse than it was 40-some years ago. Federal labor economists recently analyzed federal labor data to see just how much the nation’s labor force has changed in recent decades, according to a Sept. 1 blog post on the US Bureau of Labor Statistics site. In examining the Consumer Population Survey data, the economists looked “peak to peak,” zeroing in on 1979 and 2019 — two high points of employment and economic activity. Here’s a quick look at how the American labor force has changed and some of the reasons behind the

Millions Lose Pandemic Unemployment Aid as Benefits Expire

By Tami Luhby April Stokes wants to go back to work. An optician by trade, Stokes was employed at Henry Ford OptimEyes until the coronavirus struck and school closed for her two young children. The family has been able to ride out the pandemic thanks to expanded federal unemployment benefits, which provided them with $1,152 every two weeks — much less than Stokes was making before, but enough to survive. Now, however, that vital lifeline has ended. Stokes isn’t worried about her ability to find a new job, but finding one that can accommodate her children’s schedules will be “next to impossible,”

US Jobs Report Faces Uncertainty Amid Delta Variant Surge

By Anneken Tappe, The US jobs recovery is about to get a reality check. It was a strong summer, with nearly 2.5 million jobs added back between May and July even as the Delta variant started to increase Covid-19 infections — but economists are now growing cautious that August may not have been as strong. Economists polled by Refinitiv still predict 728,000 jobs were added last month. But that forecast was revised down from 750,000 early Wednesday after a disappointing reading from ADP Employment Reports, which looks at private sector payrolls. It was the second time in a row that the ADP report was significantly below expectations: 374,000 jobs were added in August,

E4 Launches Girls in STEM Program to Empower Young Women

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  By Simon Osuji   E4, a fintech specialist, has launched a Girls in STEM program to help girls in underserved areas pursue careers in science, technology, engineering, and mathematics (STEM) after high school. The program aims to bring much-needed resources to society’s most vulnerable and marginalized group – young, previously disadvantaged females – in line with e4’s commitment to improving the living standards of previously marginalized communities and upskilling South Africa’s youth for the digital age. Ntombi Mphokane, e4’s HR and Transformation Executive, is passionate about encouraging women to pursue careers in technology. “With the rise of technology in

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