Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company. According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year. In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited
Four-time GRAMMY® Award-winning producer Timbaland has joined Suno, a leading AI music creation platform, as a strategic advisor. This collaboration comes after months of Timbaland actively using Suno. Love Again Remix Contest To mark the beginning of this partnership, Timbaland previewed his latest single, “Love Again,” exclusively on Suno, inviting artists from around the world to participate in a remix contest. The contest, launching 24 hours after the announcement, will offer over $100,000 in prizes, with Timbaland himself providing feedback on submissions. The top two remixes will then be released on major streaming platforms,
Issa Rae has announced a new collaboration between ColorCreative, her management company, and the streaming platform Tubi. Together, they’ve launched “Stubios,” an initiative aimed at supporting up-and-coming creators by providing a direct path into the entertainment industry. This partnership offers five creative teams the chance to develop their debut projects, which will premiere on Tubi, with full funding provided by the platform. A Platform for Emerging Talent ColorCreative, co-founded by Issa Rae and led by CEO Talitha Watkins, is committed to amplifying underrepresented voices, according to their website. Through the
SoLo Funds, a Los Angeles-based fintech startup, is facing a class action lawsuit filed on October 16, accusing the company of “unlawful and deceptive” lending practices. As first reported by Bloomberg, the lawsuit alleges that SoLo misled users by disguising hidden fees as “tips” to lenders and “donations” to the company. While these fees are technically optional, the suit claims they are difficult to avoid, making loans more expensive than advertised. Deceptive Lending Practices Alleged in Lawsuit SoLo Funds allows users to request small loans, up to $575, which are
Forbes’ real-time billionaire rankings, these are the wealthiest Black individuals globally. Their investments span various industries, including telecommunications, technology, cement, media, and oil. While they have gained significant wealth, these billionaires also hold influence in sectors that are critical to economic growth, particularly in Africa and the diaspora. Here’s a roundup the world’s richest Black people as of October 2024. Read: The Top 10 Richest Black People In The World 2025 David Steward Net Worth: $11.4 billion Country: USA Industry: Information TechnologyDavid Steward co-founded World Wide Technology (WWT), a provider
Octavia Carbon, a Kenyan startup in Direct Air Carbon Capture (DACC) technology, has raised $3.9 million in seed funding. This funding, co-led by Lateral Frontiers and E4E Africa, will allow the startup to scale its efforts to remove carbon dioxide from the atmosphere, aiding the global fight against climate change. Pioneering Carbon Capture Technology in Africa Founded in 2022 by Martin Freimüller, Duncan Kariuki, and Mike Bwondera, Octavia Carbon is Kenya’s first DACC company. Its machines capture carbon dioxide (CO2) from the air and store it underground to help reduce
Meta is reintroducing facial recognition technology across Facebook and Instagram to fight against scammers who use celebrity images in fraudulent ads. This move comes after the company abandoned facial recognition in 2021 amid to privacy, accuracy, and racial bias concerns. A Return to Controversial Technology In its latest effort to combat fraudulent ads, Meta’s facial recognition system will compare flagged images with the profile pictures of celebrities on Facebook and Instagram. If a match is found, the ad will be automatically removed. Meta’s initial rollout focuses on 50,000 high-profile public
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Black Girl Vitamins (BGV) has announced a $100,000 scholarship fund dedicated to Black women pursuing medical careers at Historically Black Colleges and Universities (HBCUs). This two-year initiative, part of their broader mission to support health equity, aims to increase representation in healthcare by easing the financial burden for aspiring medical professionals. Investing in Future Healthcare Leaders BGV’s scholarship program aligns with their mission to create a new generation of Black women in medicine, nursing, pharmacy, and public health. The scholarship is open to Black women enrolled in accredited medical programs
HSBC Holdings Plc has appointed Pam Kaur as its first female Chief Financial Officer (CFO), marking a historic shift for the global bank, which was founded over 150 years ago. Kaur, who has been with HSBC since 2013, will step into the role amid sweeping restructures under the bank’s newly appointed CEO and a challenging global financial climate. A Long Career in Risk and Compliance Pam Kaur, formerly HSBC’s chief risk and compliance officer, brings nearly 40 years of global finance expertise, specializing in risk management, compliance, and auditing. She
