• Tue, December 10, 2024

by: The Globe and Mail

Business Brief: A growing backlash to DEI

Good morning. Walmart Inc. made waves last month when the retailer announced it was rolling back many of its diversity, equity and inclusion initiatives. As a backlash against DEI programs grows in the United States, signs of tumult are emerging in Canada. More on that below, but first:

by: Business Standard

Mintifi raises $180 mn in Series E from TVG, Prosus, and Premji Invest

The company works with over 300 brands in India, including Asian Paints, Varun Beverages, Parle Products, Honda, and Shree Cement, among others

by: legit

UK pledges to cut government spending waste

UK government departments must find efficiency savings of five percent, finance minister Rachel Reeves insisted Tuesday, vowing to take an "iron fist" to public-spending waste. "I have no doubt that we can find efficiency savings within government spending of five percent and I'm determined to do so,

by: CoinDesk

Keone Hon: Bridging DeFi and TradFi

Jump Trading quant raised $225 million in 2024 to build Monad, a high-performance blockchain trying to bring Wall Street's trading efficiency to crypto.

by: CNN

Macy's is in deep trouble. It could be sitting on a goldmine

Macy's would be more valuable if it just shut down its business and sold everything off for parts. That's the argument activist investment firm Barington Capital and private equity firm Thor Equities said in a proposal Monday that called on the company to make drastic changes to boost its stock price.

by: ARLnow.com

CMIT Solutions: Understanding penetration testing and its importance for SMBs

In today's digital age, cybersecurity threats are a significant concern for businesses of all sizes. Small and medium-sized businesses (SMBs) are particularly vulnerable due to limited resources and expertise in cybersecurity.

by: MoneyWeek

The top stocks in the FTSE 100

After a year of strong returns for the UK's flagship index, which FTSE 100 stocks have posted the best performance in 2024?

by: thenewhumanitarian

The loss and damage fund should open for business in 2025. Will it be fit for purpose?

2025 could see funds disbursed for the first time, but how will it work, who will benefit, and why is there so little money in its coffers?

by: The Australian Financial Review

How Shanghai's ambition to be the 'future of finance' fell apart

The port city was meant to be China's answer to New York, but trade tensions and changing domestic priorities have taken a toll.

by: The Motley Fool

Designer Brands (DBI) Q3 2024 Earnings Call Transcript

Good morning and welcome to the Designer Brands third quarter 2024 results conference call. All participants will be in a listen-only mode. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. [Operator instructions] Please also note, today's event is being recorded.

by: Business Insider

I left a career at Amazon and Microsoft to start a hedge fund. After raising almost $10M in my first year, I'm never going back to Big Tech.

A former Amazon and Microsoft engineer shared how he transitioned from Big Tech to finance and raised almost $10 million in his first year.

by: Reuters

UBS plans wealth business shake-up in the US, memo shows

UBS plans to overhaul its wealth management business in the United States, splitting the operation into six divisions and focusing more on clients that are not super wealthy, according to an internal memo and a media report on Tuesday.

by: Kiplinger

Tax Pros: Is Someone Fraudulently Using Your Expired PTIN?

A PTIN is an 8-digit number assigned to tax preparers by the IRS. It serves as an official identifier, starting with the letter P, that allows the tax agency to track and regulate tax preparation activities. Those who prepare their own taxes, file joint returns, or prepare taxes for friends and family without compensation don't need a PTIN

by: The University of Chicago Chronicle

COP29 provides UChicago students with unique perspective on climate change and policy

More than two dozen University of Chicago students recently attended the 2024 United Nations Climate Change Conference—better known as COP29—which they described as an "eye-opening" yet "humbling" opportunity to learn about the inner-workings of policy and politics at a global scale.

by: AOL

General Motors to stop funding its Cruise robotaxi business

General Motors will stop funding its Cruise robotaxi business and focus on developing self-driving technology for personal vehicles, the automaker said in a statement on Tuesday.

by: The Daily Pennsylvanian

Samra Lulseged | The Wharton factory

Columnist Samra Lulseged identifies how Wharton's narrow professional culture suppresses student individuality, limits career exploration, and prioritizes efficiency over personal and intellectual development.

by: Seeking Alpha

Buy 1 December Aristocrat Of 67 From 38 With 'Safer' Dividends

Aristocrats span all sectors, with BEN topping yields. Read why its strong dividend history and low price make it a December buy, despite analyst concerns.

by: Yahoo

Half of Mayor Eric Adams' latest matching campaign fund claims deemed 'invalid'

Half of the claims for public matching funds that Mayor Eric Adams' reelection campaign submitted in the most recent reporting period were deemed "invalid" by the city's Campaign Finance Board, the highest rejection rate the mayor's team has faced to date,

by: Yahoo Finance

GM to exit Cruise robotaxi business

General Motors said on Tuesday it will stop funding and exit robotaxi development at its majority-owned Cruise business, a blow to the automaker that had made the advanced technology unit a top priority.

by: AOL

Debanking hurts everyone. It's time to end it once and for all

Yes, as in any industry, there are bad actors. But choosing to shape crypto banking policy purely through the lens of these actors is akin to debanking the asset management industry over Bernie Madoff, or debanking energy companies because of Enron.

by: WTOP News

Alaska Airlines will spread its wings by flying to Tokyo and Seoul beginning next year

NEW YORK (AP) — Alaska Airlines said Tuesday it will start new service to Tokyo and Seoul next year as part of a plan to boost international flights over the next several years. Alaska announced the new routes Tuesday as it raised its fourth-quarter ...

by: Business Line

RBI New Governor Live News: Sanjay Malhotra to be new RBI Governor, will replace Shaktikanta Das

by: Reuters

Barclays plans hiring spree to drive private banking and wealth management

Barclays aims to hire up to 100 more advisers to drive growth in its private banking and wealth management business, but has ruled out a push into the United States because of heavy competition and high costs of entry.

by: Business Today

LIC Bima Sakhi Yojana: Check how women can apply and earn a min. salary of Rs 7,000 per month

LIC plans to enroll 100,000 Bima Sakhi within the next 12 months and 200,000 over a span of three years as part of its women empowerment drive.

by: Insider Monkey

ClearBridge Investments Mid Cap Growth Strategy's Q3 2024 Investor Letter

ClearBridge Investments, an investment management company, released its "ClearBridge Mid Cap Growth Strategy" third quarter 2024 investor letter.

by: Insider Monkey

Seven Corners Capital's Q3 2024 Investor Letter

Seven Corners Capital, an investment management company, released its Q3 2024 investor letter. Seven Corners Capital's composite portfolio finished Q3 2024 increasing around 14%, while the S&P 500 increased by approximately 21%.

by: AOL

Inflection's CEO talks about rebuilding a startup, AI 'in dialogue with the planet,' and working with Trump

Sean White was tapped by Reid Hoffman earlier this year to take over as CEO of Inflection, after co-founders and most of the staff were hired by Microsoft.

by: Reuters

Goldman Sachs sees more larger-scale strategic deals in 2025

Goldman Sachs expects "strategic" deals by companies to accelerate in 2025 including large-scale mergers and acquisitions, its finance chief said on Tuesday.

by: Forbes

Trump's Cabinet And Key Jobs: Harmeet Dhillon, Mark Paoletta, Alina Habba Tapped For Legal Roles

Dhillon will serve as Justice Department attorney general for civil rights and Paoletta as general counsel for the Office of Management and Budget.

by: Yahoo Finance

GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit

General Motors said Tuesday it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit. Instead the Detroit automaker will focus on development of partially automated driver-assist systems like its Super Cruise,

by: MSN

Nissan reassigns CFO Ma to China head in management reshuffle, Nikkei reports

Nissan Motor's board has decided to reassign Chief Financial Officer Stephen Ma to head its China business, the Nikkei newspaper reported, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs.

by: MSN

China ramps up Wall Street meetings as Trump inauguration looms

Chinese Vice Premier He Lifeng has met with several U.S. finance executives as Beijing seeks to build relationships in the face of rising bilateral tensions.

by: Yahoo Finance

Oracle cloud business is growing, while other units decline: Analyst

Oracle (ORCL) shares continue to slide Tuesday morning after reporting a slight miss on its fiscal second quarter revenue — $14.06 billion vs. expectations of $14.12 billion — and adjusted earnings estimates — $1.

by: Forbes

5 Steps To Turn Risk Management Into A Strategic Edge

Here is how to transform risk management into a strategic advantage through five steps. Objective: Shift risk management from a transactional oversight role to a core values-driven function focusing on accountability, transparency and customer-centricity.

by: AOL

Top Black professional organizations: Empowering careers and building community

The Black professional class has supported its members from the end of slavery to modern times by developing institutions parallel to their […]

by: Reuters

Mauritius prime minister: previous government misstated GDP and public debt

Mauritius' previous government falsified the country's gross domestic product (GDP), budget deficit and public debt figures for years, its new prime minister said on Tuesday, accusing the former administration of practicing "voodoo economics".

by: Yahoo Finance

FTSE 100 lower and US stocks mixed as attention turns to consumer inflation data

The FTSE 100 and European markets opened lower on Tuesday in London, following a dip for US markets, as traders look to a key US consumer inflation print on Wednesday. UK chancellor Rachel Reeves pledged an "iron fist against waste" on Tuesday morning, saying government budgets will be asked to identify efficiency savings of 5%.

by: Forbes

The Future Of TechOps With GenAI

Modern TechOps, with the help of GenAI, ensures that technology organizations strategically support the growth of businesses in an AI-driven market.

by: MSN

Some of Trump's nominees have drawn fierce criticism. Why his treasury pick has a smoother path.

In picking Bessent, Trump - despite his anti-establishment rhetoric - chose a less ideological, more conventional financier for the post.

by: Yahoo Finance

PALISADES GOLDCORP & RADIO FUELS ANNOUNCE BUSINESS COMBINATION TO CREATE LEADING RESOURCE FOCUSED INVESTMENT ISSUER

Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades") and Radio Fuels Energy Corp. ("Radio Fuels") (CSE: CAKE) (OTCQB: CKEFF) are pleased to announce that they have entered into a definitive arrangement agreement dated December 9,

by: MSN

How Are Legal Department Professionals Spending Their Time?

How are legal departments performing when it comes to getting high-level legal and business guidance from their in-house attorneys? Are your lawyers buried in administrative chaos, or are they operating at peak efficiency?

by: MSN

Sagittarius Daily Horoscope Today (Nov 22 - Dec 21), December 11, 2024: Your emotional side will strengthen!

Sagittarius Money Horoscope Today You will create a priority list and continue to improve your performance. You will focus on conveniences. Sagittarius Career Horoscope Today You will impress everyone with your personal performance in business.

by: Yahoo Finance

Chevron Upgrades Pasadena Refinery to Increase Capacity, Feedstock and Product Flexibility

Chevron U.S.A., Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), has completed a retrofit of its refinery in Pasadena, Texas, which is expected to increase product flexibility and expand the processing capacity of lighter crudes by nearly 15 percent to 125,

by: MSN

Charter consolidates Spectrum business service units, promotes two

by: MSN

US Small Business Optimism Hits 3-Year High As Election Results 'Signal A Major Shift'

Small businesses across the U.S. are heading into the holiday season with newfound confidence and momentum. The Small Business Optimism Index surged to 101.7 in November 2024, marking a a significant rebound from October's 93.

by: MSN

Genesco Inc. (NYSE:GCO) Q3 2025 Earnings Call Transcript

Q3 2025 Earnings Call Transcript December 6, 2024 Operator: Good day everyone and welcome to Genesco's Third Quarter Fiscal 2025 Conference Call. Just a reminder, today's call is being recorded. Genesco management included in the conference call will be Mimi Vaughn,

by: MSN

America is addicted to PowerPoint. Now it's trying to kick the habit.

It's late afternoon, late in the week, and someone is presenting a deck. Geez, here we go. The presenter reads words that you can also read from a bulleted list on a lightly decorated page projected before you.

by: MSN

The Era of Nation-State Bitcoin Adoption: Governments and Corporations Embracing Digital Gold

Business Brief: A growing backlash to DEI

Good morning. Walmart Inc. made waves last month when the retailer announced it was rolling back many of its diversity, equity and inclusion initiatives. As a backlash against DEI programs grows in the United States, signs of tumult are emerging in Canada. More on that below, but first:
The article from The Globe and Mail discusses a growing backlash against Diversity, Equity, and Inclusion (DEI) initiatives in the corporate world. It highlights how some companies are facing resistance or reevaluating their DEI programs due to various pressures, including legal challenges, political pushback, and internal skepticism about the effectiveness of these initiatives. Critics argue that DEI efforts can lead to reverse discrimination, foster division rather than unity, and sometimes prioritize appearance over actual change. There's also mention of a lawsuit against a major company for allegedly discriminating against white male employees in favor of promoting diversity. Despite these challenges, supporters of DEI maintain that these programs are essential for addressing systemic inequalities and fostering a more inclusive workplace, although they acknowledge the need for better implementation and clearer metrics to measure success.

Read the Full The Globe and Mail Article at:
https://www.theglobeandmail.com/business/article-business-brief-a-growing-backlash-to-dei/

Like: 👍