Business - Page 43

Ngozi Okonjo-Iweala to Lead WTO as First Woman, African

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By Hanna Ziady and Charles Riley, CNN Business The path has been cleared for Nigeria’s Ngozi Okonjo-Iweala to become the first woman and the first African to lead the World Trade Organization after South Korea’s candidate pulled out of the race for the job. Yoo Myung-hee, the South Korean trade minister, announced her decision to withdraw in a televised briefing on Friday. Okonjo-Iweala, an economist and former finance minister of Nigeria, already enjoyed broad support from WTO members, including the European Union, China, Japan and Australia. However, the United States, under the Trump administration, had favored Yoo, complicating the decision-making

Merck CEO Kenneth Frazier Retires After Decade of Leadership

By Jordan Valinsky, CNN Business Merck CEO Kenneth Frazier, who is currently one of the few Black CEOs of a Fortune 500 company, is retiring in June, ending a nearly 30-year run with the company. The pharmaceutical giant announced the change Thursday, naming Chief Financial Officer Robert Davis as its new leader effective July 1. Frazier has served as Merck’s CEO since 2011 and had made headlines in recent years for his statements on racial justice and his public tussles with former President Donald Trump. “On behalf of the entire Merck board, I thank Ken for his strong and highly

LAIKA, Bowie State Partner to Launch HBCU Stop-Motion Studio

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The Oscar-nominated and BAFTA and Golden Globe Award-winning feature film animation studio LAIKA is best known for animated films like Coraline, Kubo, and the Two Strings, Missing Link. They are partnering up with Bowie State University to fund the first in the nation a stop-motion animation studio at Historically Black College and University (HBCU).This partnership is meant to improve the university’s animation program and provide a clear goal of creating a path to the industry. LAIKA’s contribution would finance renovations to Bowie State’s green screen studio to enable stop-motion animation development. “Laika is thrilled to be partnering with as prestigious

Google Expands HBCU Career Program to 20 Colleges

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Sixteen new colleges and universities have joined Google’s “Grow with Google HBCU Career Readiness Program” — an initiative tailored to prepare Black students for the workforce. Announced in October 2020, the program aims to reach 20,000 students during the current academic year. The program will be available to all Historically Black Colleges and Universities (HBCUs) by fall 2021. The program is the result of Google’s partnership with the Thurgood Marshall College Fund (TMCF)  — the nation’s largest non-profit exclusively representing HBCUs. It will provide digital skills workshops to Black students at HBCU career centers to better prepare them for future

Closing Racial Gaps: Boosting Black-Owned Businesses

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Opinion by Rick C. Wade for CNN Business Perspectives Editor’s note: Rick C. Wade is senior vice president of strategic alliances and outreach at the U.S. Chamber of Commerce, where he leads the Chamber’s Equality of Opportunity Initiative. The opinions expressed in this commentary are his own. Far too often, the opportunity to obtain an education, secure a job, access quality health care or provide for your family is still determined by the color of your skin. While the work to close the racial divide is not easy, it must be done. This is more than a moral mandate —

Google CEO to Meet HBCU Presidents Amid Bias Allegations

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Google CEO Sundar Pichai will meet with five presidents of historically Black colleges and universities next week after two former Google employees accused the company of racial discrimination, CNN Business reported. Last month, two Black former Google employees — April Curley, a diversity recruiter, and Timnit Gebru, an artificial intelligence researcher — tweeted that they were fired from the tech giant after voicing concerns about how few Black people worked at Google and how those employees were treated. Curley oversaw HBCU recruitment and said several of her superiors believed HBCU computer science graduates didn’t have the technical skills to work

TikTok Donates $10M to Support Scholarships at 10 Schools

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The video social network website made the announcement Wednesday, saying that each school would receive $1 million to support both undergraduate and graduate scholarships for students pursuing careers in medicine, public health or other health-related fields.The ten schools benefiting are Xavier University of Louisiana, Tougaloo College, North Carolina Central University, North Carolina A&T University, South Carolina State University, Laredo College, University of South Dakota, Florida A&M University, Delaware State University and Virginia Union University. In a statement, TikTok said the gifts would help “ensure the success of future Black, Latinx, and Indigenous health heroes.” “We believe investing in the next generation

MacKenzie Scott Donates $4.2B, Boosts HBCU Endowments

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MacKenzie Scott announced on Tuesday her second major charitable contribution of the year, giving away nearly $4.2 billion to 384 organizations as part of a plan to donate a majority of her fortune. The announcement comes just four months after Scott donated $1.7 billion to 116 organizations, including four historically Black colleges and universities (HBCUs), in July. The latest round of philanthropic gifts total more than $4.16 billion donated by Scott to organizations nationwide in the past four months. “The pandemic has been a wrecking ball in the lives of Americans already struggling,” Scott wrote in a Medium post. “Economic

Fifth Third Bank HBCU Recruitment & Leadership Programs

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In 2017, Fifth Third Bank, National Association, implemented a multicultural college and university recruitment program that establishes relationships with multiple colleges to recruit, hire and retain the best and brightest students.As part of the strategy, the Bank has deepened its relationships with traditional colleges as well as Historically Black Colleges and Universities (HBCUs) as a way to strengthen the pipeline of diverse talent. The strategy also emphasizes internships and long-term employment through leadership programs. Moreover, it strengthens the Bank by developing an employee base that reflects the communities we serve, and it enhances the lives of tomorrow’s leaders.Since the program’s

Virgil Abloh Joins FSF Board, Expands Black Talent Fund

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Fashion Designer Virgil Abloh Joins Fashion Scholarship Fund Governing Board Shares Information on Scholarships and Opportunities Offered through the Virgil Abloh “Post-Modern” Scholarship Fund Supporting Next Generation of Black Fashion Industry Leaders   The Fashion Scholarship Fund (FSF) announced today that designer Virgil Abloh will be joining its Board of Governors. In this role, Abloh will join fellow Board members in providing scholarships and internship, mentoring, and professional development opportunities for the organization’s scholars who are just starting out in the fashion industry. “We are so honored to have Virgil join the FSF Board. His efforts to promote equity and

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