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In the midst of a nationwide coin shortage, some retailers are asking for exact change, or even better, use a credit or debit card for payment....
(Bloomberg) -- During a series of Cisco Systems Inc. online all-hands meetings on race in early June, some workers posted comments in message channels that other staff and company management said were demeaning to Black people, exposing racial divisions at the Silicon Valley tech giant and leading to the dismissal of a number of people.During the first videoconference on June 1, following the killing of George Floyd by Minneapolis police, Chief Executive Officer Chuck Robbins spoke with Ford Foundation President Darren Walker, who is Black, and Bryan Stevenson, a Black lawyer and author who founded the Equal Justice Initiative, in front of 30,000 employees. The conversations about race continued in subsequent online global staff meetings.“Black lives don’t matter. All lives matter,” one worker wrote in the comments during one of the virtual all-hands meetings, according to screen shots obtained by Bloomberg. Another said the phrase Black Lives Matter “reinforces racism” because...
New York Rep. Gregory Meeks (D) joins Yahoo Finance to discuss the outlook on additional coronavirus stimulus in Congress and the changes coming to the Consumer Financial Protection Bureau....
(Bloomberg) -- SoftBank Group Corp. quietly sold an additional $2.2 billion of its stake in Alibaba Group Holding Ltd. as part of the Japanese conglomerate’s fund-raising effort to pay down debt and buy back its own shares.The deal, which includes a collar contract and call spread, is expected to be settled between May 2024 and June 2024. The details were disclosed on page 276 of SoftBank’s year-end financial filing released on June 25, but have not been previously reported. A SoftBank Group spokesman confirmed the details of the sale.This step is the latest in an unwinding of a relationship between the two companies that spans two decades. SoftBank founder Masayoshi Son was an early backer of Jack Ma’s Alibaba and the Chinese e-commerce giant remains his most successful investment by far. In early 2000, Son invested $20 million into the then-unknown web portal connecting Chinese manufacturers with overseas buyers, a stake...
(Bloomberg) -- Oil fell on signs that the recovery in oil consumption may be starting to slow.Futures in New York fell below $41 a barrel after struggling to surpass their highs from June in recent days. Indian road fuel sales fell in the first half of July as localized virus lockdowns occurred in several cites, and the Chinese city of Urumqi locked down some areas amid fears of another outbreak in the country. American unemployment figures barely dropped last week, highlighting the risks to a broader economic recovery.Though demand concerns are returning in some of the world’s largest consuming regions, it remains a far from uniform picture. Japan’s fuel demand is just 4% lower than a year earlier, and there have been steady recoveries in nationwide consumption in the U.K. and the U.S.After rebounding rapidly from its nadir in April on supply cuts and returning demand, crude has traded in a...
China's financial regulators seized control of several insurers, trust firms and stock brokers linked to one of the country's most powerful oligarchs, in a devastating blow against corporate malfeasance and freewheeling capitalism while the stock market is in the midst of a runaway rally.Huaxia Life Insurance, Tian'an Property Insurance, Tian'an Life, Yi'an Property Insurance, New Times Trust and New China Trust were placed under state ward to "protect the rights of policy holders, customers and serve the public's interest," the China Banking and Regulatory Commission (CBIRC) said in a statement. Separately, New Times Securities, Guosheng Securities and Guosheng Futures were placed under the government's management for a year, the China Securities Regulatory Commission (CSRC) said.The coordinated seizures extend the break-up of Xiao Jianhua's Tomorrow Group, a sprawling empire with stakes in hundreds of publicly listed companies held through a labyrinthian network of entities, that began three years ago. The crackdown of...
China's financial regulators seized control of several insurers, trust firms and stock brokers linked to one of the country's most powerful oligarchs, in a devastating blow against corporate malfeasance and freewheeling capitalism while the stock market is in the midst of a runaway rally.Huaxia Life Insurance, Tian'an Property Insurance, Tian'an Life, Yi'an Property Insurance, New Times Trust and New China Trust were placed under state ward to "protect the rights of policy holders, customers and serve the public's interest," the China Banking and Regulatory Commission (CBIRC) said in a statement. Separately, New Times Securities, Guosheng Securities and Guosheng Futures were placed under the government's management for a year, the China Securities Regulatory Commission (CSRC) said.The coordinated seizures extend the break-up of Xiao Jianhua's Tomorrow Group, a sprawling empire with stakes in hundreds of publicly listed companies held through a labyrinthian network of entities, that began three years ago. The crackdown of...
