Unilever South Africa apologises for “racist” ad; to set up diversity committee

THE South African unit of Unilever will set up an advisory board and a diversity committee after apologising for a hair care advert which it admitted was “racist”, the consumer group said. The advert by its TRESemmé brand, was posted on drugstore Clicks Group’s website on September 4, and described images of African black hair […]

Jane Fraser becomes the first woman to head a Wall Street bank

CITIGROUP Inc on Thursday(10) named consumer banking head Jane Fraser to succeed Michael Corbat next year as the bank’s chief executive officer, making her the first woman to lead a major Wall Street bank. Globally, female leaders are still a rarity in banking. Alison Rose became the first woman to head a British bank when […]

Google abandons Dublin office plan for up to 2,000 staff

GOOGLE says it is dropping talks to rent office space for up to 2,000 staff in Dublin, after most of the US tech giant’s employees were told to work from home until 2021 amid the global pandemic. A spokeswoman said that “after much deliberation” Google “has decided not to proceed with leasing” the Sorting Office […]

Walmart unveils subscription programme to challenge Amazon

WALMART said Tuesday (1) it will soon launch a long-discussed membership programme to provide free delivery and compete directly with Amazon’s popular “prime” service. The world’s biggest retailer will offer Walmart+ starting September 15, charging $98 annually or $12.95 a month to provide free delivery as soon as the same day along with discounts on […]

New CEO renames Hinduja Bank as S P Hinduja Banque Privée

THE newly appointed CEO of Hinduja Bank Karam Hinduja has renamed the Geneva-based institution as S.P. Hinduja Banque Privée. The name change was approved by the Swiss Financial Market Supervisory Authority on Thursday (16). Hinduja was appointed as the CEO of the bank on 15 June 2020. Since then, the bank has expanded its private […]

Gokada CEO found ‘decapitated and dismembered’ in luxury New York apartment

A technology entrepreneur who founded Nigeria’s Gokada ride-hailing app was found decapitated and dismembered in a luxury New York apartment with a power saw plugged in nearby, New York police said. Police on Wednesday (15) confirmed the death of Fahim Saleh in a statement and deemed it a homicide. Detectives found Saleh’s torso near a […]

India’s Bank of Baroda sues NMC Health founder BR Shetty over bad loans

INDIA’S Bank of Baroda has sued UAE-headquartered NMC Health group’s owner Bavaguthu Raghuram Shetty for allegedly breaching an agreement to provide 16 assets as collateral for debts, a news report has revealed. As financial turbulence rocked his empire, the Abu Dhabi-based Indian entrepreneur had a meeting with Bank of Baroda officials in March discuss his […]

Amazon mistakenly tells workers to take TikTok app off phones

AMAZON mistakenly sent workers an email telling them to dump the TikTok mobile application from their cell phones because of security concerns on Friday (10). The internal message told workers they could still access the popular video-snippet sharing platform using laptop web browsers, but would lose access to company email on smartphones that have TikTok. […]

Covid-19 crisis to sink global economy in 2020; India’s GDP to shrink 4.5 per cent, says IMF

KEY emerging market economies are taking a severe hit to GDP amid the coronavirus pandemic, with India seeing the first contraction in decades, the IMF said. The updated World Economic Outlook shows India’s GDP will fall 4.5 per cent this year, far worse than expected in April just after the pandemic first took hold outside […]

Amazon pledges $2 billion to projects fighting climate change

AMAZON on Tuesday (23) pledged to invest $2 billion in projects aimed at combatting climate change, stepping up efforts to reduce the carbon footprint of the tech giant and others. The Climate Pledge Fund will back efforts by startups and other firms in multiple sectors to “facilitate the transition to a zero carbon economy,” Amazon […]

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