JPMorgan Chase Commits $30 Billion to Advance Racial Equity
NNPA NEWSWIRE — JPMorgan Chase announced new long-term commitments to advance racial equity. The firm will harness its expertise in business, policy and philanthropy and commit an additional $30 billion over the next five years to provide economic opportunity to underserved communities, especially the Black and Latinx communities. Structural barriers in the U.S. have created profound racial inequalities that have been exacerbated by the COVID-19 pandemic. The existing racial wealth gap puts a strain on families’ economic mobility and restricts the U.S. economy. Building on the firm’s existing
Comcast and Revolt Reach New Deal Expanding to 30 New Markets
Comcast and REVOLT, the unapologetically Hip Hop content platform from Sean “Diddy” Combs, have reached an agreement to significantly expand its availability to Xfinity TV customers across the country in new and existing markets. As of September 29, REVOLT has been added in HD to the Xfinity Digital Starter package in Philadelphia, Northern New Jersey, Orlando, West Palm Beach, Ft. Myers, Jacksonville, Tampa, Knoxville, Indianapolis, Charleston, and Augusta, making the network available to millions more Xfinity customers. Additionally, in markets where REVOLT has been available in standard definition
Jesse Collins Set to be First Black Producer of Super Bowl Halftime Show
For the first time in history, the Super Bowl Halftime Show will be headed by a Black producer. Emmy-nominated Jesse Collins will produce the 2021 show. Collins, founder and CEO of Jesse Collins Entertainment, has previously worked on the BET Awards and Grammys. “It is an honor to be part of such an iconic show at such an important time in our history,” Collins said in a statement, via Sports Business. “I am grateful to Jay-Z, [Roc Nation chief operating officer] Desiree Perez, the entire Roc Nation family,
Distribution deals bring Black-owned whiskey brand ‘Guidance’ to store shelves in 5 states
NASHVILLE—Black-owned brands are suddenly in demand, and serial entrepreneur Jason Ridgel is in high spirits after sales of Guidance, a whiskey brand he owns, skyrocketed in recent months. Guidance is making a name for itself as one of the few black-owned premium craft small-batch whiskey brands available for purchase online and in stores in Tennessee, Kentucky, Florida, Georgia and California. It’s part of a growing black-owned spirits movement. Since launching in 2018, Guidance Whiskey has made its product available for purchase online in 43 states. The company recently inked a
Fifth Third Foundation Empowers Program Black, Women-Owned Entrepreneurs with New Program
Fifth Third announced an exciting new $1.2 million program called Innovation meets Main Street: Boosting Black Women-Owned Businesses, a partnership between AEO and LISC powered by Fifth Third Bank. The program is made possible by grants from the Fifth Third Foundation to Local Initiatives Support Corporation (LISC) and the Association of Enterprise Opportunity’s (AEO) MainStreet RISE program. The funds are part of the $8.75 million Fifth Third pledged to support small businesses and the community during the COVID-19 pandemic. Fifth Third’s Senior Vice President and Chief Enterprise Responsibility Officer Byna Elliott said,
Detroit-Native & Former Record Exec Launches New Music Streaming & Analytics App Deepr
Detroit-native and former Motown Records Business and Legal Affairs Executive Darrell Thompson is shaking up the music tech industry as co-founder & COO of the music data company, Deepr®. It is a Black-owned tech start-up that has developed a music discovery app for consumers and a data insights platform for creators, the music industry, and the film and television industry. Like Shazam, the Deepr® app utilizes audio recognition and manual search inputs to provide everything you could know about who was involved in making the songs you enjoy.
Black fashion designers win big at Council of Fashion Designers Awards
The Council of Fashion Designers Awards, often called the “Oscars of Fashion” celebrated a number of prominent Black fashion designers at an online ceremony Monday night. Black fashion designers took home of three of the six coveted awards, including Haitian-American Kerby Jean-Raymond, who took home the prestigious American Menswear Designer of the Year. The Council of Fashion Designers of America, Inc. (CFDA) is a not-for-profit trade association founded in 1962, whose membership consists of 477 of America’s foremost womenswear, menswear, jewelry and accessory designers. Other figures recognized by the
Accenture Introduces Black Founders Development Program
Accenture has created the Black Founders Development Program to aid Black entrepreneurs, especially Black tech startups. According to a statement released by Accenture, the program is designed to "advance and grow technology businesses through greater, more direct access to venture capital, corporate mentorship, and strategic connections with Accenture’s business partners, clients, and people." They are aiming to increase Black access to wealth and fuel the next great innovators. "Black entrepreneurs continue to innovate but face bias and lack access to capital and opportunity in the venture capital community,
Black households earned 61 cents for every dollar of White median incomes
Nationally in 2018, Black households earned 61 cents for every $1 of White household median income. Further, the Black/White median household income gaps ranged from 87 cents per dollar in Maine and Hawaii, down to 32 cents per dollar in the District of Columbia. The disparity in median translates into 22% of all Black Americans living in poverty, a gap of 13% compared to Whites who are poor. Wisconsin’s gap is 23%. “In noting the socioeconomic indicators of median income, poverty rates and health insurance rates, I found
Pinterest Names Tyi McCray as Global Head of Inclusion and Diversity
Pinterest has appointed Tyi McCray its Global Head of Inclusion and Diversity. McCray, who has worked with Airbnb, Twitter, and the New York Times, comes on board to lead programming promoting diverse culture. She will report directly to co-founder and Pinterest CEO Ben Silbermann. "We’re very excited to welcome Tyi to Pinterest. She is a proven and compassionate leader who will be a huge asset in advancing the significant work ahead of us," said Silbermann. "I look forward to working with her to build a culture where all