Business - Page 8

The shipping crisis is getting worse. Here’s what that means for holiday shopping

By Hanna Ziady The vast network of ports, container vessels and trucking companies that moves goods around the world is badly tangled, and the cost of shipping is skyrocketing. That’s troubling news for retailers and holiday shoppers. More than 18 months into the pandemic, the disruption to global supply chains is getting worse, spurring shortages of consumer products and making it more expensive for companies to ship goods where they’re needed. Unresolved snags, and the emergence of new problems including the Delta variant, mean shoppers are likely to face higher prices and fewer choices this holiday season. Companies such as Adidas, Crocs and Hasbro are already warning

FAA proposes more than $500,000 in new fines against unruly airline passengers

By Pete Muntean and Gregory Wallace, Federal authorities are proposing more than a half-million dollars in new fines against commercial airline passengers they say refused to wear masks, hit flight attendants and even threw luggage across the cabin. The Federal Aviation Administration’s announcement Thursday of $531,545 in fines against 34 passengers accused of being unruly on board is the single largest announcement of federal fines since the start of a nationwide crackdown earlier this year, bringing this year’s total to more than $1 million. Of the incidents detailed by federal investigators for the first time, nearly two-thirds involve passengers accused of

Restaurant owners sue New York City over vaccine mandate

By Danielle Wiener-Bronner A group of restaurant owners and five small businesses are suing New York City Mayor Bill de Blasio and the city over its vaccine mandate in the hopes of blocking the new requirement. Earlier this month, the city announced a new rule requiring people to show proof of vaccination against Covid-19 before dining indoors, visiting a fitness center or going to an indoor entertainment venue. Anyone who works in the impacted businesses must also be vaccinated. The rule went into effect this week, and the city plans to start enforcing it on September 13. “This vaccine mandate is arbitrary and capricious due to the

Serena Williams and Nike unveil shoe and apparel collection

By Chauncey Alcorn Serena Williams is pairing up with Nike to try to bring more people of color into the world of fashion design. On Tuesday, the 39-year-old tennis legend joined Nike in unveiling a collection of women’s athleisure wear and accessories, created by a group of 10 up-and-coming designers known as the Serena Williams Design Crew, or SWDC. Nike selected the group two years ago as part of its “diversity in design” apprenticeship program, which seeks to elevate designers of color who are underrepresented in the fashion design world. The clothes, a mix of SWDC athletic gear and streetwear, will be available

Newsroom leadership has never been this diverse, but that’s not enough

By Kerry Flynn A new class of media executives who have taken top jobs at major publications in the US in the last year is much different than any that came before it. Notably, the class is not made up of predominantly White men. In fact, the cohort includes many firsts. For the first time, there is a Black executive running a major American broadcast news network. The new leaders of ABC News and MSNBC are not only the first Black people in the top roles, but also the first women. The new CEO of The Associated Press is the

3 ways companies can help advance racial equity

Opinion by Dan Schulman, Robert F. Smith and Rich Lesser Amid the national reckoning over racial inequality, corporations and foundations across the country have pledged roughly $11 billion to support causes that promote racial equity. Yet to date, only about half of that promised amount — roughly $5.8 billion — appears to have translated into real investments in the many organizations that are working day in and day out to create lasting change in communities of color. This slow pace of investment must be addressed if we are to successfully tackle the urgent and pervasive challenges before us. The reasons

Why minority business leaders are celebrating the infrastructure bill

By Chauncey Alcorn The heads of some of the largest minority business advocacy groups on Capitol Hill are praising key elements of the latest infrastructure bill, which is currently being debated in the House after passing with bipartisan support in the Senate on Tuesday. “This was a win for us in a big way that may not necessarily be known by most people,” US Black Chambers of Commerce president and CEO Ron Busby Sr. told CNN Business. Busby’s organization advocates on behalf of 143 Black chambers of commerce in the United States and a total of 380,000 Black business owners

Major companies are recruiting more HBCU grads than ever before, administrators say

By Chauncey Alcorn Administrators and career service leaders at some of the nation’s top historically Black colleges and universities, also known as HBCUs, say recruitment of their students and graduates by major corporations has dramatically increased since the police murder of George Floyd more than a year ago. Public outrage spread globally after the widely viewed video of Floyd’s death at the hands of former officers in Minneapolis circulated in May 2020. That motivated many Fortune 500 companies to do more to improve racial equity in the United States, including bolstering the ranks of Black Americans working in Corporate America.

Nasdaq’s plan to boost diversity on corporate boards gets SEC approval

By Jazmin Goodwin The Securities and Exchange Commission approved Nasdaq’s proposal to increase diversity on the boards of companies listed on its exchange. The rule requires all Nasdaq-listed companies to have at least two diverse directors, including one woman and one member of an “underrepresented” minority group, including Black people, Latinos or members of the LGBTQ+ community. Companies that don’t have at least two diverse directors, will be required to provide in writing a reason for why they do not. Smaller companies and foreign companies on the exchange could comply with two female directors. Companies will also be required to publicly disclose

Target will cover 100% of college tuition for its workers

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By Alaa Elassar Target has announced that it will begin paying the college tuition and textbook expenses for its US-based part-time and full-time employees who attend select schools. The retail giant is following the lead of other large US companies offering more benefits to attract and retain talent in a tight job market. Starting as early as their first day on the job, more than 340,000 employees at Target stores and distribution centers will now be able to choose from 250 programs at over 40 schools and universities across the country, and they won’t have to pay a dollar, Target said in

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