Major Companies Scrap Diversity Programs Amid Conservative Pressure

businessinclusiondiversityequityconservatives

Share:

Major Companies Scrap Diversity Programs Amid Conservative Pressure
Meta, Walmart, and McDonald's have joined a growing list of companies abandoning their diversity initiatives amid conservative pressure and a changing legal landscape. The Supreme Court ruling and the term "DEI" becoming "charged" have led these companies to reconsider their diversity efforts.

  • Meta is axing its diversity programmes, including hiring, supplier, and training efforts.
  • Walmart and McDonald's have also made similar decisions regarding diversity efforts.
  • Companies are now focusing on small and medium-sized businesses and offering programmes that "mitigate bias for all, no matter your background."
business
inclusion
diversity
equity
conservatives

Related articles:

Misty Copeland's Final Bow: A Legendary Career in Ballet

retirementballetdanceinclusiondiversityMisty Copeland

Misty Copeland's Legacy

Misty Copeland, a trailblazing ballerina, has retired from American Ballet Theatre after 25 years.
She was the first Black female principal dancer in the company's history
Copeland's career has been marked by her advocacy for diversity and inclusion in ballet

What's Next?

Copeland will continue to promote diversity in the dance world through her foundation and by joining ABT's board of trustees.

Autistic Man Finds New Job After Being Let Go by Waitrose

inclusionautismemploymentWaitroseAsdadisability

What Happened?

An autistic man, Tom Boyd, was let go as an unpaid shelf stacker at Waitrose after volunteering for years.

The Turn of Events

He was offered a paid job by Asda after his story went viral
Asda has a Supported Internship Programme for people with autism or learning disabilities

The Outcome

Tom will work at Asda with flexible hours and support. Waitrose apologized and offered him his job back, but he declined.

Global Economic Outlook: Challenges and Opportunities

global newsbusinesseconomy

Introduction to Economic Updates

You're probably wondering what's happening with the global economy.

Recent Developments

The UK government is addressing business leaders and mayors at a regional investment summit, with announcements on cutting administration for businesses and promoting growth.
The US and Australia have signed a multi-billion dollar agreement for critical minerals, amidst a deepening trade war with China.

Economic Challenges

What are the implications of these developments for the global economy?

Trump's Executive Orders: Bringing Back Service Members, Banning DEI Policies

militarytrumpdiversityexecutive orderscovid-19 vaccine

In a series of executive orders, former President Trump has made some major changes to the military's policies. Here's what you need to know:_ Reinstating Service Members: Trump has signed an order to bring back service members who were booted from the military for refusing to get the COVID-19 vaccine._ Returning to Prior Rank: Those reinstated will be returned to their prior rank, and be provided back pay and benefits._ Banning DEI Policies: Another order bans the use of race- or sex-based preferences in the military, the Defense Department, and the Homeland Security Department.

Trump Ends Federal Diversity Programs, Puts Staffers on Paid Leave

trumpinclusiondiversityequityfederal government

In a bold move, former President Trump has ordered the shutdown of all diversity, equity, and inclusion (DEI) programs across the federal government. A memo from the U.S. Office of Personnel Management instructed department and agency heads to place all DEI staffers on paid administrative leave, effective immediately. This decision comes after Trump repealed numerous executive orders promoting LGBTQ equality and demonized DEI policies during his presidential campaign.

U.S. Steel and Nippon Steel Sue Biden Administration Over Blocked Deal

politicsbusinessUSAJapansteel

U.S. Steel and Nippon Steel Sue Biden Administration
U.S. Steel and Nippon Steel have filed a lawsuit against the Biden administration over the decision to block Nippon Steel's proposed takeover of U.S. Steel. The companies argue that the decision was made for political reasons, violating their due process. Biden halted the acquisition after federal regulators deadlocked, citing national security concerns.

Biden blocked the deal for strategic reasons
Companies allege political motivations
U.S. Steel needs urgent capital investment
Nippon Steel paid a premium for the purchase

Kroger-Albertsons Merger Blocked by Federal Judge

businessFTCgrocerymergersantitrust

In a major blow to Kroger and Albertsons, a federal judge has blocked their $24.6 billion merger. The ruling, in favor of the Federal Trade Commission (FTC), found that the proposed union would lessen competition for grocery shoppers. The FTC had argued that the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers and reduced bargaining leverage for unionized workers. Kroger and Albertsons had tried to convince the judge that selling off 579 of the stores would preserve competition, but the effort was unsuccessful. The ruling essentially scuttles the merger, which would have seen Kroger own approximately 5,000 stores across the US.

Major U.S. University Abolishes Diversity Statements for Faculty Hiring and Promotion

educationinclusionuniversitydiversityequity

University of Michigan Drops Diversity Statements:** The University of Michigan has decided to discontinue the requirement of diversity statements for faculty hiring, promotion, and tenure. This move comes after an eight-member faculty working group recommended the end of the use of diversity statements, citing their potential to limit freedom of expression and diversity of thought on campus. The university board is also considering dismantling the bureaucracy associated with DEI initiatives. This decision follows a nationwide trend of universities rolling back their DEI requirements.

Vietnamese Real Estate Tycoon Faces Death Sentence for Fraud

Truong My Lan to Raise $9 Billion or Face Execution

businessreal estateVietnamfrauddeath sentence

A Vietnamese court has upheld a death sentence for real estate tycoon Truong My Lan.**

Why?
For her role in a $12 billion financial fraud - the biggest on record in Vietnam.

What happens next?
Lan can request a review of the case and commute her sentence to life imprisonment if she raises 75% of the sums she embezzled, which totals $9 billion.

Stay tuned for updates.

California Minimum Wage Hike Narrowly Rejected: What It Means

politicsbusinessminimum wagecalifornialabor unions

California voters have rejected a proposal to raise the minimum wage to $18 an hour by 2026.** The current minimum wage in California is $16 for most workers and $20 in the fast-food sector. The healthcare sector will eventually see its minimum wage reach $25 an hour. The proposal, known as Proposition 32, was supported by 49.2% of voters, but failed to pass. Opponents had argued that it would increase costs, lead to higher taxes, and push businesses to cut jobs. **The rejection of Proposition 32 is a setback for labor unions and workers who were hoping for a higher minimum wage.

Labour Warned Over Potential National Insurance Hike

businesstaxesnational insurancelabourhospitality

A potential rise in employer national insurance contributions could hurt businesses and limit pay rises, experts warn.

  • British employers are concerned about a possible increase in employer national insurance contributions.
  • The potential hike is part of Labour's plans to fill a £22bn hole in the public finances.
  • The hospitality sector, where staffing costs are the biggest business expense, would be particularly affected.
  • Labour's manifesto promised not to raise taxes on working people.
  • The Institute for Fiscal Studies says such a move would breach the manifesto.
  • The Confederation of British Industry and the British Chambers of Commerce also oppose the potential increase.

P&O Ferries: Government Eases Row Over 'Rogue' Operator Claim

ukgovernmentbusinessinvestmentferries

Government Eases Row Over 'Rogue' Operator Claim

  • Business Secretary Jonathan Reynolds clarifies that P&O Ferries is not a 'rogue operator'
  • Louise Haigh's comments about the company did not reflect the official government position
  • DP World to attend UK investment summit and announce £1bn investment
  • Expansion of London Gateway port to create hundreds of jobs in Thurrock

Jamie Dimon's African Visit and Trump's False Endorsement Claim

TrumpbusinessfinanceAfricaJPMorgan

JPMorgan Chase CEO Jamie Dimon to Visit Africa:** In a push for growth, JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October, visiting Kenya, Nigeria, South Africa, and Ivory Coast. Trump's False Endorsement Claim: Donald Trump falsely claimed that Jamie Dimon had endorsed him for president on his social media platform. Dimon has not endorsed Trump or made any endorsements in the 2024 presidential race. Market Impact: Overseas markets, including Africa, have been a key focus area for JPMorgan to generate growth. Tags: #business #finance #JPMorgan #Africa #Trump Category: news

Dockworkers Strike Suspended: A Tentative Agreement Reached!

businessstriketransportationdockworkersUSMX

Great news for American commerce! The historic port strike that clogged dozens of ports along the East and Gulf coasts has been suspended. After tens of thousands of U.S. dockworkers walked off the job, the International Longshoremen's Association and the U.S. Maritime Alliance reached a tentative agreement on wages and agreed to extend the master contract until Jan 15. They will return to the bargaining table to negotiate all outstanding issues. This is a win-win situation for both parties and American commerce!

Global Markets Tumble Amid Fears of US Economic Slowdown

businessfinanceeconomyUSglobal markets

Markets Plunge Worldwide Amid US Economic Fears

  • *US stocks drop sharply
  • Dow Jones sheds 1.9%
  • S&P 500 down by 2.9%
  • Nasdaq composite falls 3.4%
  • *Global sell-offs
  • Japan’s Nikkei 225 plunges 12.4%
  • South Korea’s Kospi loses 8%
  • Europe’s FTSE 100 down 2%
  • *Tech stocks suffer
  • Nvidia, Apple, Microsoft see significant losses
  • *Labor Department report triggers panic
  • Hiring in July slower than expected
  • Jobless rate rises to 4.3%
  • *Economic concerns gain prominence in presidential campaign
  • Biden, Harris silent on market chaos
  • Trump, Republican allies blame Harris and Democrats

Read full original articles:

SourceLink