Category: Business

India is giving more than a dozen companies new incentives to invest in the country’s smartphone industry, bolstering an ambitious campaign from Prime Minister Narendra Modi to rebrand the country as the world’s next manufacturing hub. The program includes 16 companies involved in making smartphones and components, including Samsung (SSNLF), Austria’s AT&S and several Indian […]

PMorgan Chase (JPM) is committing $30 billion over the next five years to promote racial equality. “Systemic racism is a tragic part of America’s history,” said JPMorgan Chase Chairman and CEO Jamie Dimon in a news release. “We can do more and do better to break down systems that have propagated racism and widespread economic […]

Hundreds of thousands of women — nearly eight times more than the number of men — dropped out of the US labor force last month, as the pandemic continues to exacerbate inequalities in America’s economy. About 617,000 women left the workforce in September alone, compared with only 78,000 men, according to government data released Friday. […]

Federal banking regulators will fine Citibank $400 million for shortcomings in its risk management and other internal controls processes. The Office of the Comptroller of the Currency, an agency within the Treasury Department, cited “serious and longstanding deficiencies and unsafe or unsound practices” in Citibank’s risk management and data governance.“The OCC took these actions based […]

Disney’s 2020 has been dreadful with one after another of its businesses getting slammed because of the coronavirus pandemic. The only real bright spot for the company this year has been its new and growing streaming service, Disney+. Now, an activist investor is urging Disney to pump more money into its streaming service by shifting […]

President Trump or Joe Biden will need to make an incredibly important decision sometime in 2021 that will help determine whether the economy can continue to recover from the Covid-19 pandemic. They need to decide whether or not to renominate Federal Reserve chairman Jerome Powell. Trump’s decision to halt stimulus talks Tuesday — before backtracking […]

President Donald Trump has dashed hopes for a large, bipartisan stimulus deal before the election. That will ensure a longer, more painful recovery from the deep recession triggered by the coronavirus. What’s happening: “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major […]