Business and Economy
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Carolyn Jean Cheeks Kilpatrick, a long-time advocate for Detroit and Black-owned businesses, has died in Atlanta. She was 80 years old. Kilpatrick served in the U.S. Congress from 1996 to 2011. Early Life and Education Carolyn Jean Cheeks was born on June 25, 1945. She was raised within the African Methodist Episcopal Church and demonstrated […]
February is Black History Month, which raises awareness of the contributions of Black Americans and the inequalities they face. These disparities extend into the business world, where Black entrepreneurs encounter significant barriers, including underrepresentation. As of 2023 — the latest available data — only 3.4% of U.S. businesses are Black-owned. This study examines where Black-owned […]
US stock futures increased Thursday as investors anticipated upcoming earnings reports and an inflation update. This follows a stronger-than-expected January jobs report. Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) rose approximately 0.3%, while those on the tech-heavy Nasdaq 100 (NQ=F) added 0.2%. The major stock indexes ended little changed in Wednesday’s […]
The Fifteen Percent Pledge Gala took place Feb. 7 at Paramount Studios in Los Angeles, celebrating Black excellence and community while supporting Black-owned businesses. The annual event honored businesswoman and designer Tina Knowles, mother of Beyoncé and Solange Knowles. The Fifteen Percent Pledge Founded in 2020 by fashion designer, activist, and entrepreneur Aurora James, the […]
The January jobs report is scheduled for release Wednesday at 8:30 a.m. ET and is anticipated to reveal a potentially stagnant or very slow-growing labor market. Annual revisions to previous data are also expected to significantly alter the picture of job creation in early 2024. Expected Payroll Growth Economists are forecasting minimal job growth for […]
The dollar weakened against other currencies early Tuesday, with both the euro and the British pound extending gains from earlier in the week. Currency movements were largely attributed to a softer dollar rather than significant strength in the euro or pound. Euro Performance The euro held steady near $1.19 on Tuesday, following a 0.9% increase […]
A new policy from the US Small Business Administration (SBA) will restrict green card holders from receiving business loans backed by the agency, effective March 1. The change impacts both existing and new borrowers and applies broadly to businesses with any ownership stake held by a green card holder. The policy reverses previous flexibility and […]
Supporting Black-owned businesses is increasingly recognized as a way to promote racial equality. Financial support, beyond mere acknowledgment, is considered crucial for fostering a more just and equitable society. Many California destinations and media outlets have compiled lists of Black-owned shops and restaurants to encourage patronage. Resources are available throughout the state, including Los Angeles, […]
Pizza Hut plans to close approximately 250 underperforming restaurants across the United States during the first half of 2026. This decision comes as parent company Yum! Brands Inc. (NYSE: YUM) continues a strategic review of the pizza chain. Yum! Brands disclosed the planned closures during its fiscal 2025 fourth-quarter earnings call, framing the move as […]
A recent LendingTree analysis highlights persistent disparities in small business financing. Black-owned businesses experienced the highest rejection rates for loans, lines of credit, and merchant cash advances in 2024, while Hispanic-owned businesses also faced significantly higher denial rates compared to white-owned businesses. Financing Rejection Rates by Business Ownership The LendingTree analysis found that 39% of […]