In an effort to promote racial equality, Harvard Business School said it would boost its enrollment of Black students in future classes, hire a chief diversity officer and recruit more Black faculty and staff. The school plans to build more issues of race and diversity into its case-study method of teaching and make conversations about race a higher priority in its curriculum, it said last week.

KEY TAKEAWAYS
1. The school recently acknowledged past missteps involving race.

In June, following the national outcry stemming from George Floyd’s death while in police custody, Nitin Nohria, dean of the school, wrote a letter that said past efforts to recruit Black students to Harvard were insufficient. “I apologize that we have not fought racism as effectively as we could have,” he wrote.

2. The number of Black M.B.A. students at the school has stagnated.

For three decades the number of Black students on

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By Michelle Nichols and Stephanie Nebehay

NEW YORK/GENEVA (Reuters) – U.N. chief Antonio Guterres said on Wednesday it is time for countries to start using money from their national COVID-19 response to help fund a global vaccine plan as the World Bank warned that “broad, rapid and affordable access” to those doses will be at the core of a resilient global economic recovery.

The Access to COVID-19 Tools (ACT) Accelerator and its COVAX facility – led by the World Health Organization and GAVI vaccine alliance – has received $3 billion, but needs another $35 billion. It aims to deliver 2 billion vaccine doses by the end of 2021, 245 million treatments and 500 million tests.

At a high-level virtual U.N. event on the program, WHO chief Tedros Adhanom Ghebreyesus said the financing gap was less than 1% of what the world’s 20 largest economies (G20) had committed to domestic stimulus

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Investment Conclusion

Jack in the Box (JACK) has a simple story. It is a regional hamburger chain that has carved out a distinctive identity based on its innovative indulgent side items, its all day: breakfast, lunch, dinner, and late night menu, its 18/7 and 24/7 hours of operation, and its heavy focus on the drive through experience.

The company that never really evidenced the accelerated growth experienced by its peers except for brief periods in the 1970’s and 1990’s, decided to combat moderating retail sales and shrinking margins by launching a refranchising strategy in 2004. The initiative was completed in 2019 and although margins have expanded significantly over the course of the 15 years it took to enforce the refranchising effort, the effect on gross profits, operating earnings, and net income has been marginal.

To mitigate the sluggish increase in profits and accelerate growth, JACK has implemented wide ranging initiatives

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Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy.

Shell, which had 83,000 employees at the end of 2019, said that the reorganisation will lead to additional annual savings of around $2 billion to $2.5 billion by 2022 beyond cost cuts of $3 to $4 billion announced earlier this year.

Shell’s London-traded shares were down over 1% in early trade.

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Last month it launched a broad review of its business aimed at cutting costs as it prepares to restructure its operations as part of the shift to low-carbon energy.

The Anglo-Dutch company said it expected to cut 7,000 to

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Managing a small business is difficult as it is already during this pandemic-affected economic climate. Having to manage connectivity and IT and pay for both is just another added layer of complexity for many business owners. To address two of those challenges at once, T-Mobile offers a new set of small business rate plans. Besides adding these plans, T-Mobile is also getting more serious about supporting business users by doubling the team dedicated to helping SMBs and has updated its more than 7,000 retail locations to serve small and medium businesses better. T-Mobile is increasing its focus on small business users after the Sprint merger, which admittedly had more business experience. T-Mobile is now announcing a partnership with Microsoft to broaden its small business rate plan offerings to include Microsoft 365.

T-Mobile is taking Small Business seriously with these two new Magenta Business plans;

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(RTTNews) – Shares of Novus Capital Corp. (NOVS) are gaining nearly 30% on Tuesday morning after AppHarvest, a developer and operator of indoor farms, announced it would go public through a merger with Novus Capital, a special purpose acquisition company.

NOVS is currently trading at $12.95, up $2.85 or 28.25%, on the Nasdaq.

AppHarvest and Novus Capital have entered a definitive agreement for a business combination that would result in AppHarvest becoming a public company. Upon closing of the transaction, the combined company will be named AppHarvest and is expected to remain listed on Nasdaq under a new ticker symbol.

The combined company will be led by Jonathan Webb, AppHarvest’s Founder and Chief Executive Officer.

The transaction will provide $475 million in gross proceeds to the company, including $375 million fully committed common stock PIPE at $10.00 per share. The deal would give AppHarvest a market value of around $1

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a hand holding a cellphone: Eduardo Munoz/Reuters


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Eduardo Munoz/Reuters

  • Google announced in a blog post on Monday that it’s closing a loophole which allows some developers to side-step its 30% tax on in-app payments.
  • Developers will have until September 31 2021 to integrate Google’s billing system.
  • Google also said it will make it easier for users to install alternative app stores to its own.
  • The change may mean apps such as Netflix, Spotify, and Tinder which have avoided the 30% fee put up their prices on the Play Store.
  • Visit Business Insider’s homepage for more stories.

Google said it will clamp down on a loophole that allows big developers like Netflix and Spotify avoid paying 30% commission on in-app payments.

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Until now, developers have been able to side-step the 30% commission that comes with using Google’s in-app payment system by getting users to enter their card details directly.

Google’s vice

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TOKYO (Reuters) – Toshiba Corp on Tuesday said it will exit the money-losing system LSI chip business as the Japanese conglomerate aims to boost the group’s profit margins.

The chip business includes image recognition processors supplied to Toyota Motor Corp, although Toshiba said it would continue sales and support operations for existing customers.

Toshiba plans to relocate or offer early retirement options to 770 employees at its system LSI business, a step that will cost the Japanese company 11.8 billion yen ($111.77 million) but has already been factored in its earnings outlook. However, its power management chip business will be retained.

The company said in a statement it decided to withdraw and “establish a solid business structure not easily affected by market fluctuations; one that is sustainable even during the continuing U.S.-China trade conflict.”

Toshiba sold its prized flash memory business, now Kioxia Holdings Corp, to a consortium led by

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MITO, Japan (AP) – Shares in Japanese telecoms giant Nippon Telegraph & Telephone, or NTT, fell Tuesday on news it is preparing for a takeover of its mobile phone carrier NTT DoCoMo.

The Nihon Keizai Shimbun and other media reported that DoCoMo’s board would meet later in the day to vote on the plan. DoCoMo said in a release it had no news to report ahead of the board meeting.

It said, “once a decision is made, our company will make an announcement promptly.”

The reports said NTT Corp. plans to delist NTT DoCoMo, taking it private to enable the mobile carrier to offer cheaper rates in competition with rivals such as SoftBank and KDDI.

The company’s shares fell 2.4%. DoCoMo’s shares were suspended from trading.

NTT’s reported plan dovetails with newly installed Prime Minister Yoshihide Suga’s push for lower telecoms rates.

NTT DoCoMo is Japan’s largest mobile carrier and

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(Bloomberg) — China’s top leaders will meet Oct. 26-29 to draft economic and social policies for the next five years, as President Xi Jinping prioritizes domestic consumption and innovation to counter the threat of decoupling from the U.S.



a person standing in front of a building: People pass a gate in front of Huaneng Power International Inc.'s Gaobeidian thermal power station in Beijing, China.


© Bloomberg
People pass a gate in front of Huaneng Power International Inc.’s Gaobeidian thermal power station in Beijing, China.

The Communist Party’s Politburo set the dates Monday for a gathering of the larger Central Committee, the official Xinhua News Agency said, without elaborating. The ruling party plans to discuss proposals for the country’s development plan for the 2021-25 period, Xinhua said in July, as well as draw up a long-term blueprint that runs through 2035.

The five-year plan covers almost everything in China’s economic and social life, from growth targets and pollution control to education and national defense. The document, which is being drafted as Xi’s government works to blunt

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