The Federal Reserve Bank of Dallas’s Texas Manufacturing Outlook survey for June fell for the fifth straight month. Texas manufacturing output growth plunged 3 percent, to -4.2 percent in June, indicating a slight contraction in output, according to the Dallas Fed survey, published on June 26. Survey officials asked 85 regional manufacturers a series of…
Texas Manufacturing Survey Falls for Fifth Straight Month
June 28, 2023
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Costco Clamps Down on Membership Card Sharing at Self-Checkout
Costco has begun clamping down on non-member shoppers using other people’s membership cards, the company confirmed in a statement on June 27. As part of the crackdown, the retailer has started requesting that shoppers now show their membership cards with a photo when they head to self-checkout registers. Those who do not have a photo…
Study Accuses Google of Violating Promised Advertising Standards and Misleading Businesses
Google allegedly misled numerous companies by violating its promised quality standards while placing video ads on third-party websites and apps, thus potentially costing these firms billions of dollars, according to a recent report. Google’s TrueView delivers advertisements on YouTube as well as millions of third-party apps and websites. Google charges a premium from customers promising…
Russian Court Fines Google an Additional $47 Million
A Russian court has fined Alphabet’s Google 4 billion roubles ($47 million) for failing to pay an earlier fine over alleged abuse of its dominant position in the video hosting market, the country’s anti-monopoly watchdog said on Tuesday. Google was fined 2 billion roubles in February 2022. The Federal Antimonopoly Service (FAS) at the time…
Google Lays Off Staff at Its Mapping App Waze
Alphabet-owned Google on Tuesday said it is cutting jobs at mapping app Waze as it merges the app’s advertising system with Google Ads technology, without giving details on the number of layoffs. “In order to create a better, more seamless long-term experience for Waze advertisers, we’ve begun transitioning Waze’s existing advertising system to Google Ads…
European Shares Climb, Yen Stumbles and Euro Shines
June 28, 2023
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LONDON/SYDNEY—European shares climbed on Wednesday as surprisingly upbeat U.S. economic news eased global growth concerns, while the embattled yen hit a 15-year low against the euro and Japan hinted at intervention to prevent further losses. Treasury yields inched higher on the strength of U.S. data, combined with hawkish commentary emerging from Portugal at a gathering…
Tesla Charging Technology Put on Fast Track to Become US Standard
Tesla’s electric-vehicle charging technology is being put on a fast track to become a North American standard, giving a further boost to the automaker’s plan to expand access to its once-exclusive chargers. Tesla’s charging technology has been gathering momentum for weeks. Volvo Car on Tuesday joined General Motors, Ford and Rivian in embracing Tesla’s charging…
ANALYSIS: Supreme Court Affirmative Action Case Could Undermine Corporate Racial Agenda
June 27, 2023
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1964 Civil Rights ActBusiness & MarketsCompaniesESGHarvardPolicies & ImpactsStarbucksSupreme CourtUniversity of North CarolinaUS
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As Harvard and the University of North Carolina (UNC) await a landmark Supreme Court decision, expected this week, on their racial admissions policies, companies are also watching nervously, fearing that the decision could expose their race-based hiring and training programs to civil rights lawsuits. According to a Harvard Business Review 2022 survey, more than 60…
BlackRock CEO Says He’ll No Longer Use ‘ESG’ Term
BlackRock CEO Larry Fink, one of the most powerful figures on Wall Street and an outspoken champion of progressive causes, appeared to be backpedaling this week on his support for the environmental, social, and governance (ESG) movement, saying he would no longer use the term. “I’m not going to use the word ESG because it’s…
IN-DEPTH: BlackRock CEO Says He’ll No Longer Use ‘ESG’ Term
BlackRock CEO Larry Fink, one of the most powerful figures on Wall Street and an outspoken champion of progressive causes, appeared to be backpedaling this week on his support for the environmental, social, and governance (ESG) movement, saying he would no longer use the term. “I’m not going to use the word ESG because it’s…
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