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arrows May 12, 2017
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Owning about 1.9M businesses in the U.S. today, Black companies have increased by over 60% since 2002. According to the personal finance website, NerdWallet, there are certain cities that definitely stand out above the rest. Using the county’s most populated cities, the website ranked the best places for Black entrepreneurs to consider. It is no surprise that cities like Atlanta, Miami and Washington, D.C. are at top of the list. (Rollingout)
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Ready to approach your employer about a pay raise? "Keep in mind that it’s not just about what you think you’re worth, but also about what your employer thinks your contributions are worth paying for, says Rachel Kim, SoFi career strategist and coach. So if you’re ready to take a seat at the negotiating table, come prepared and negotiate with confidence. Kim provided Black Enterprise with a few do’s and don’ts on how to pitch your boss on a pay increase. (Black Enterprise)
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Entrepreneurs are no strangers to the odd bout of existential terror. Usually, these period of stress and fear flair up only to die down rather quickly. Sometimes, however, these stresses persist and can make you feel totally overwhelmed. (Forbes)
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Career
While feedback is intended to improve your performance, that doesn’t mean you’ll always agree with or even understand it. The greatest of managers are still occasionally going to tear apart a project you were proud of, make you change something you thought was perfect as is, or issue instructions you think are a fundamentally bad idea. (Fast Company)
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Supportive leadership, a cool culture, and awesome perks. Ideally, they’re all things you’d like to find in your next employer. But, what’s another thing you’d love to have? Meaning. You don’t want to just roll into the office every day, check off your to-do list, and then head home. You’re looking for work that fulfills you, and you want to know that you’re not only making a difference at your company—but in the world. (The Muse)
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Northwestern Mutual
International
Macronomics — it's the new French president's proposed cure for a decade's worth of relative economic gloom. Emmanuel Macron's victory in Sunday's election puts him in place to pursue his economic agenda, from cutting taxes on companies and labor, to investing more in technology and promoting freer trade and integration in the European Union.(ABC News)
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Like 178 other schools across the island, Luis Santaella School is set to close after the last day of the school term this week, in part to help Puerto Rico battle debt and pension obligations of $123 billion. The school, perched alongside a winding two-lane road 1,400 feet above sea level, will join the many casualties of a fiscal crisis that forced Puerto Rico to declare a form of bankruptcy last week and sent hundreds of thousands of people packing in the past decade. (The New York Times)
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OPEC has asked a favor of other major producers: Please stop pumping so much and help us balance the market. The unusual plea was issued Thursday in the cartel's closely-watched monthly report, which found that global markets are still suffering from too much supply. (CNN Money)
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Education
With the price tag of a top-flight business degree increasing, business school applicants increasingly are considering carefully their expected return on investment. PayScale, the world’s leading provider of on-demand compensation data, has released a ranking of the best-value business schools in the U.S. (Business Because)
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When President Trump signed a $1.1 trillion spending bill on Friday, he zeroed in on a tiny sliver of it, suggesting that he might disregard $20 million in funding for loan subsidies and other aid to historically black universities. Two nights later, after a storm of criticism, the White House walked back the threat in a statement that declared the president’s "unwavering support" for such schools.(The New York Times)
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NBMBAA
Join us in Philadelphia this September for the nation's premier diversity career, education and networking event. Register now for the 2017 Annual Conference and Expo, presented by NBMBAA and Prospanica, and take advantage of early pricing discounts and best hotel locations.
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TIAA-CREF
Technology
A couple of months ago, Nucleus cofounder Morley Ivers believed his smart intercom startup was enjoying a "real partnership" with Amazon. . . . . Everything changed for Nucleus on Tuesday, when Amazon announced the Echo Show, a $230 smart-home device with a touchscreen, premium speakers, and a front-facing camera. Its headline feature is the ability to make video calls to other Echo Show users, just like Nucleus does with its own intercom. Now, Ivers is wondering how his startup and its 29 employees will survive. (Fast Company)
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From Xerox copiers to secret tapes to missing emails, machines are still at the center of modern political scandals. (The Atlantic)
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Entrepreneurship
The U.S. Black Chambers is collaborating with select African American Chambers of Commerce to bring together Black Business Leaders and Black Chambers of Commerce for an intensive business training with the goal of producing more Black-owned businesses. (Politics 365)
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Ten years ago, when Dr. Anastasia Gentles worked at Texas Children’s Hospital's emergency room, she spent many hours seeing children with fevers and ear infections who wound up in the ER for lack of other options. The pediatrician, now 49, came up with the idea of an urgent-care center just for kids, and asked a friend from church, Zawadi Bryant, 43, who had business experience, what she thought. The women – along with a third partner, Connie Cazares, 41 – founded NightLight Pediatric Urgent Care with a single location in Sugarland, Tex. Today, the chainlet of pediatric urgent-care centers spans five Texas locations (with two more in the works) and expects to produce $8.5 million in revenue this year. (Forbes)
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The Economy
Shoppers plan to spend more on Mom than they have in over a dozen years. But that likely won’t do much to reverse the fortunes of a troubled retail sector. According to an annual survey of 7,406 consumers by the National Retail Federation, shoppers will shell out more for Mother’s Day this month than in any other year in the survey’s 14-year history, with experiential gifts like spa days and restaurant meals gaining present appeal.(Forbes)
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Trade protectionism is a "dead end" used for political capital but ultimately dangerous for the U.S. economy, New York Federal Reserve President William Dudley said Thursday in India, according to a report on Reuters. Dudley did not mention President Donald Trump by name in a speech at the Bombay Stock Exchange, but used the address to approach territory sometimes avoided by Fed members: fiscal policy. (MarketWatch)
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Personal Finance
By many measures the job market is in its best shape since before the Great Recession. The unemployment rate is just 4.4%, its lowest level in a decade. Employers have added a solid average of 186,000 jobs a month over the past year. (USA TODAY)
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Corporate America
BET Networks, the country’s largest cable network for African American audiences, is moving its headquarters from Washington to New York, ending a nearly 40-year relationship with its home town.The move — part of a years-long transition into the Manhattan offices of its parent company, Viacom — comes as major cable networks struggle to stay relevant. ESPN earlier this year announced widespread layoffs to make up for millions of lost subscribers, and many others have been facing similar battles as customers cancel their cable in favor of streaming video services such as Hulu and Netflix.(The Washington Post)
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