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☆ How Greenwood Grew a Thriving Black Economy
▼ + stars: | 2023-05-26 | by ( Victor Luckerson | ) www.nytimes.com time to read: +2 min

They soon transformed the space into the Dreamland Theatre. It was the first Black-owned theater in Tulsa and one of the few owned by a Black woman. Du Bois believed that enterprises like the Dreamland held the key to Black prosperity in a segregated world. Though primarily heralded as a sociologist and activist, Du Bois studied economics in graduate school in Berlin. When Du Bois strolled the streets of Greenwood in the spring of 1921, there was hardly any competition.

☆ Anheuser-Busch loses LGBTQ+ equality rating from Human Rights Campaign for handling of Bud Light backlash
▼ + stars: | 2023-05-22 | by ( Grace Mayer | ) www.businessinsider.com time to read: +5 min

The Human Rights Campaign removed Anheuser-Busch's equality score and "Best Places to Work Title." The group has since removed this designation in response to the company's handling of backlash from a Bud Light promotion that featured transgender influencer Dylan Mulvaney, USA Today reported. In April, Mulvaney posted a promotion on her Instagram that featured custom Bud Light beer cans with prints of her face. In a statement provided to Insider, Jay Brown, senior vice president of programs, research, and training at Human Rights Campaign, said the group decided to suspend Anheuser-Busch's equality score after several attempts to contact the company's executive team. Last year, the Human Rights Campaign gave Anheuser-Busch its highest equality rating: a 100 on its 2022 Corporate Equality Index score, a tool that weighs a company's corporate policies, practices, and benefits for its LGBTQ employees.

☆ Isolating China will be 'impossible and dangerous,' analyst says, as the G-7 gets tough on Beijing
▼ + stars: | 2023-05-22 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The G-7 issued its strongest ever message to China over the weekend, but an analyst warned that isolating Beijing is "impossible" and "dangerous." The coronavirus pandemic shed light on the intricacies of critical supply chains, but the ongoing war in Ukraine has further exacerbated this reality. In the wake of the G-7 announcement, China summoned the Japanese ambassador and ordered companies to stop buying from American chipmaker Micron. Giuliano Noci, vice-rector for China for Politecnico di Milano, on Monday told CNBC's "Squawk Box Europe" that the G-7 showed a "unitarian" perspective against China. "It should be clear that isolating China will be not only, on the one hand, impossible but also, on the other hand, dangerous," Noci said.

☆ UK's Sunak says China poses world's biggest security challenge
▼ + stars: | 2023-05-21 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

"China poses the biggest challenge of our age to global security and prosperity. They are increasingly authoritarian at home and assertive abroad," Sunak told reporters after the G7 summit in the Japanese city of Hiroshima. Sunak said Britain and other G7 countries would pursue a common approach to reduce the challenges posed by China. Sunak also said Britain would start training Ukrainian pilots this summer to support its air force in its war with Russia. At the three-day summit the G7 signalled to Russia their readiness to stand by Ukraine for the long term.

☆ Chinese embassy in Britain asks London to stop slandering China to avoid damage
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: 1 min

May 21 (Reuters) - The Chinese embassy in Britain in a statement on Sunday asked London to stop slandering and smearing China to avoid further damage to China-UK relations. This comes after British Prime Minister Rishi Sunak said China represents the world's greatest challenge to security and prosperity but that other leading economies should not decouple from it after a summit of the Group of Seven (G7) nations. "The relevant remarks by the British side are simply parroting words from others and constitute malicious slanders in disregard of the facts. China firmly opposes and strongly condemns this," the embassy statement said. Reporting by Urvi Dugar in Bengaluru; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Russia and China hit back at a G7 that saw them as a threat
▼ + stars: | 2023-05-21 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

CNN —Moscow and Beijing lashed out against the Group of Seven (G7) summit in Hiroshima, where leaders of major democracies pledged new measures targeting Russia and spoke in one voice on their growing concerns over China. Russian Foreign Minister Sergey Lavrov on Saturday slammed the G7 for indulging in their “own greatness” with an agenda that aimed to “deter” Russia and China. G7 member countries are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Concern about such incidents was reflected in the G7 statement on ensuring economic security and countering economic coercion, which did not explicitly mention China. “The bottom line is that the G7 has shown it will increasingly focus on China and will try to maintain a coordinated policy approach.

☆ The Optimist’s Guide to Artificial Intelligence and Work
▼ + stars: | 2023-05-20 | by ( Sarah Kessler | Ephrat Livni | ) www.nytimes.com time to read: +2 min

Brynjolfsson and his co-authors of a study compared the call center employees who used the tool to those who didn’t. Customer sentiment was also higher and employee turnover lower in the group that used the tool. “That offers an opportunity to enable more workers to do valuable work that relies on some of that expertise,” he said. tool for some tasks may free up workers to expand their work on tasks that can’t be automated. Of course, there’s no guarantee that workers will be qualified for new jobs, or that they’ll be good jobs.

☆ Turkey economy: Erdogan vows to keep cutting rates to bring inflation down
▼ + stars: | 2023-05-19 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —Turkey’s President Recep Tayyip Erdoğan has promised to continue with his unorthodox policy of cutting interest rates to reduce sky-high inflation if he is re-elected on May 28. “I have a thesis that interest rates and inflation, they are directly correlated. The lower the interest rates, the lower the inflation will be,” Erdoğan told CNN. “In this country, the inflation rate will come down along with the interest rates, so that we will come to a point where people will be relieved. This is not an illusion.”Soaring pricesIn late 2021, as price rises started to accelerate around the world, Erdoğan ordered Turkey’s central bank to slash interest rates.

☆ G7 leaders gather on China's doorstep to seek unified response to Beijing
▼ + stars: | 2023-05-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

‘Economic coercion’Another important theme of the summit will be economic security, including how to counter China’s economic pressure tactics. As the G7 summit gets underway, Chinese officials will be closely watching from Beijing and will not hide their displeasure, experts say. In the lead-up to the summit, Beijing has already berated a statement by G7 foreign ministers. Similarly, Beijing also lashed out at accusations of its “economic coercion,” claiming it is the “victim of US economic coercion” rather than a perpetrator. And while China is not invited to Hiroshima, it is hosting its own summit with Central Asia countries, experts noted.

☆ Column: World can't afford US-style home energy consumption habits
▼ + stars: | 2023-05-19 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

HOMES RULEA key driver behind America's outsized electricity consumption is the preference for single family homes over all other types of residences. For many in the United States, owning your own home is a key part of the so-called American Dream. According to the EIA's latest Residential Energy Consumption Survey 57% of electricity used by detached households is used for space heating, and 64% for air conditioning. OTHER WAYS OF LIVINGThe United States is not alone in facing rising living costs while trying to improve the efficiencies of buildings. Similarly, a vast majority of China's population lives in apartments, and apartments are more popular than individual houses in the cities of India, Japan and Southeast Asia.

☆ The ESG Proxy Vote Ranking
▼ + stars: | 2023-05-16 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

Photo: Getty Images/iStockphotoIf Americans want to make investment decisions using environmental, social and governance factors, that’s fair enough. It’s a free country. The problem is having a hidden agenda that applies to everybody else. A new analysis says that, even in non-ESG investment vehicles, many asset managers proxy vote in favor of woke shareholder proposals to do racial audits or strangle fossil fuels. The table nearby shows the score.

☆ Here are Tuesday's biggest analyst calls: Netflix, Carvana, Walmart, Western Alliance, Deere & more
▼ + stars: | 2023-05-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: JPMorgan reiterates Netflix as overweight JPMorgan said paid password sharing should be a financial tailwind for Netflix. Mizuho reiterates SoFi as buy Mizuho said it's standing by shares of SoFi. Citi reiterates Deere as buy Citi said it's standing by its buy rating on shares of Deere. Citi upgrades Williams Companies to buy from neutral Citi said the petroleum stock is oversold. Citi reiterates FedEx as buy Citi said it's standing by its buy rating FedEx shares.

☆ Bat lands worldwide are besieged, seeding risk of a new pandemic
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +16 min

This collision – bats and humans competing for resources on territory long the domain of the bats – could trigger the next pandemic. As people destroy bat habitats worldwide, they are unwittingly helping bat-borne viruses mutate, multiply, and infect other species, including homo sapiens. For millennia, bat viruses lurked across the forests of West Africa and in other undisturbed parts of the world but posed little threat to humanity. They’re potent proliferators: Some roost tightly together and in close quarters with other bat species. Each of the bat viruses analyzed by Reuters has epidemic potential, according to the World Health Organization.

Morgan Stanley analyst warned of potentially big swings for some of the regional banks it covers as the fallout for the crisis continues. Analyst Manan Gosalia downgraded Commerce Bancshares and Prosperity Bancshares to underweight from equal weight. Commerce Bancshares' new price target of $48 implies shares declining 3.5% from Monday's close. Meanwhile, the analysts' new price target of $60 per share for Prosperity Bancshares implies a 1% loss from where shares closed on Monday. To be sure, the analyst said that in the case deposit outflows do accelerate, Commerce Bancshares and Prosperity Bancshares would end up outperforming their peers due to their "generally more resilient funding profiles."

☆ Gas is almost $1 cheaper than a year ago
▼ + stars: | 2023-05-15 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

But gas prices are miles away from last summer’s nightmare. At this point last year, gas prices were racing toward $5 a gallon, angering Americans, alarming central bankers and threatening the entire economy. Gas is not cheapTo be sure, gas prices are not nearly as cheap as back in 2020 when the national average crashed below $2 a gallon. Looking ahead, gas prices will probably remain far away from last summer’s peak. “If we return to economic prosperity, we’re going to return to the same gas price explosion as last year.”

☆ Rich world has three ways to win over global South
▼ + stars: | 2023-05-15 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

Another reason to care about developing countries is that their actions will help determine whether the planet fries. Even rich democracies in temperate regions will feel the consequences, mainly in the form of mass migration unlike anything they have yet experienced. THREE P’SThe rich democracies’ goal should not be to pull the global South into their camp in advance of a possible clash with China. When it comes to promoting prosperity, rich democracies are similarly vulnerable to accusations of double standards. As one developing world observer told former U.S. Treasury Secretary Lawrence Summers: “When we’re engaged with the Chinese, we get an airport.

☆ Turkey votes in pivotal elections that could end Erdogan's 20-year rule
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +4 min

The election takes place three months after earthquakes in southeast Turkey killed more than 50,000 people. The pro-Kurdish Peoples' Democratic Party (HDP) is not part of the main opposition alliance but fiercely opposes Erdogan after a crackdown on its members in recent years. Kilicdaroglu, a 74-year-old former civil servant, promises that if he wins he will return to orthodox economic policies from Erdogan's heavy management. Human Rights Watch, in its World Report 2022, said Erdogan's government has set back Turkey's human rights record by decades. If he wins, Kilicdaroglu faces challenges keeping united an opposition alliance that includes nationalists, Islamists, secularists and liberals.

☆ Old rivalries, new battle as Thailand goes to the polls
▼ + stars: | 2023-05-13 | by ( Chayut Setboonsarng | ) www.reuters.com time to read: +4 min

[1/6] Electoral workers prepare ahead of the upcoming general election, in Bangkok, Thailand, May 13, 2023. The election again pits Pheu Thai's driving force, the billionaire Shinawatra family, against a nexus of old money, military and conservatives with influence over key institutions that have toppled three of the populist movement's four governments. We will change from a dictatorship to a democratically elected government," Paetongtarn told cheering crowds on Friday at Pheu Thai's final rally. The United Thai Nation of Prime Minister Prayuth Chan-ocha, who led the coup against Pheu Thai's last government, has pledged debt relief, cheaper electricity for low-income groups and subsidies for transport and crop harvesting. ($1 = 33.8500 baht)Reporting by Chayut Setboonsarng; Writing by Martin Petty; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Sunak to seek more Ukraine support in summits next week
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 13 (Reuters) - British Prime Minister Rishi Sunak will push other global leaders to pledge more support for Ukraine in its defence against the Russian invasion when he attends international summits next week, his office said on Saturday. Sunak, looking to bounce back after heavy losses for his Conservative Party in local elections last week, will travel to Iceland on Tuesday to meet other European leaders attending a Council of Europe summit. In addition to the war in Ukraine, efforts to strengthen Europe's borders will also form part of Sunak's discussions in Reykjavik. At the G7 summit, Sunak will again push for more assistance for Ukraine as it prepares for escalating military action against Russia, Downing Street said. Sunak will also press allies to counter hostile states using "economic coercion" - an oblique reference to China.

☆ The Turkey candidates for president and other key figures
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +6 min

Only three candidates remain in the race for president after Muharrem Ince, representing a small party, withdrew. CHP LEADER KEMAL KILICDAROGLUKilicdaroglu, 74, head of the main opposition Republican People's Party (CHP), was named the six-party opposition alliance's presidential candidate in March. Previously a staunch opponent of Erdogan, Bahceli's Nationalist Movement Party (MHP) began to work with the president and his AKP after a 2016 attempted coup. OPPOSITION FIGURES:IYI PARTY LEADER MERAL AKSENERFormer interior minister Meral Aksener, 66, leads the second-largest party in the opposition alliance, the centrist and nationalist IYI Party. ANKARA MAYOR MANSUR YAVASNationalist politician and lawyer Mansur Yavas, 67, defeated the AKP's Ankara mayoral candidate 2019 as the CHP candidate backed by an opposition alliance.

☆ With writers' strike already underway, film and TV studios start labor talks with directors
▼ + stars: | 2023-05-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Television and film studios, already dealing with a strike by the Writers Guild of America, started contract negotiations Wednesday with the Directors Guild of America. If those talks break down, they could lead to even broader work stoppages on film and television sets nationwide. Writers Guild of America members and supporters picket outside Sunset Bronson Studios and Netflix Studios, after union negotiators called a strike for film and television writers, in Los Angeles, California, U.S., May 3, 2023. There’s a good chance the Writers Guild could still be on strike at that point. Late night television shows were the first to be halted by the writers strike, and some other popular shows now in production, including Stranger Things, have been postponed as well.

☆ Factbox: Key players in Turkey's election campaign
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +6 min

Turkey's longest-serving leader logged more than a dozen election victories and survived an attempted coup in 2016. CHP LEADER KEMAL KILICDAROGLUKilicdaroglu, 74, head of the main opposition Republican People's Party (CHP), was named the six-party opposition alliance's presidential candidate in March. HOMELAND PARTY LEADER MUHARREM INCEFormer physics teacher and headmaster Muharrem Ince, 58, is seen as having little chance of becoming president. OPPOSITION FIGURES:IYI PARTY LEADER MERAL AKSENERFormer interior minister Meral Aksener, 66, leads the second-largest party in the opposition alliance, the centrist and nationalist IYI Party. ANKARA MAYOR MANSUR YAVASNationalist politician and lawyer Mansur Yavas, 67, defeated the AKP's Ankara mayoral candidate 2019 as the CHP candidate backed by an opposition alliance.

☆ ThredUp to list on alternative stock exchange: 'We're here to make a difference,' CEO says
▼ + stars: | 2023-05-09 | by ( Natasha Piñon | ) www.cnbc.com time to read: +4 min

ThredUp , the clothing-consignment company, announced Tuesday that it's dual listing its stock on the Long Term Stock Exchange, or LTSE, a national securities exchange designed to promote sustainable principles and a long-term focus among investors and businesses. Reinhart says he first read about the market a few years ago and started talks to list on the exchange over the past two years. The new stock exchange wants to "reverse the epidemic of short-term thinking," Ries told CNBC. There are more than a dozen stock exchanges in the U.S., but the majority of all trading occurs on the New York Stock Exchange and the Nasdaq Stock Market, making it difficult for alternatives to gain traction. One other company, the communication platform Twilio , did list on LTSE but it delisted in 2022, citing cost concerns.

☆ Melania Trump says she stands behind her husband's 2024 presidential bid and believes he can lead the country 'with love and strength'
▼ + stars: | 2023-05-09 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Melania Trump on Tuesday said she stood behind her husband's 2024 presidential campaign. The ex-first lady told Fox News Digital that former President Trump had her "support" in his race. Melania Trump said that if her husband were to win she would again focus on children's issues. "He has my support, and we look forward to restoring hope for the future and leading America with love and strength." The former first lady attended her husband's 2024 campaign launch last November, but by and large has not been a significant presence on the trail thus far.

☆ The ‘Gilded Age’ Myth, Then and Now
▼ + stars: | 2023-05-08 | by ( Phil Gramm | Amity Shlaes | ) www.wsj.com time to read: +1 min

Today the roles have reversed, with Democrats refusing to negotiate, preferring to smear the 'MAGA Republican' opposition as 'extreme.' Images: Zuma Press/AFP via Getty Images Composite: Mark KellyEverything old is new again, and blaming the rich for America’s woes is no exception. That era has been damned with a pejorative label: the Gilded Age. That thinking has re-emerged in the Democratic Party today, though this time it has its sights set on our economy’s tech giants. The wealth created by industrialization, modern finance and communication has reduced poverty, elevated material well-being and promoted general prosperity.

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