logo
Plus   Neg
Share
Email

PayPal Commits $530 Mln To Support Black And Minority-owned Businesses In U.S.

PayPal Holdings Inc. (PYPL) commits $530 million to support Black and minority-owned businesses and communities in the U.S., especially those hardest hit by the pandemic, to help address economic inequality.

The commitment comes amid the intensified protests in the killing of African American George Floyd and the campaign #BlackLivesMatter that arose with the protests seeking racial justice.

PayPal is committing $15 million to strengthen its internal diversity and inclusion programs to foster greater awareness, build equity, and support recruiting, hiring and career advancement of Black and minority employees.

The company commits $500 million to create an economic opportunity fund to support and strengthen Black and underrepresented minority businesses and communities over the long term, and designed to help drive financial health, access and generational wealth creation.

The company said the initiative will include bolstering its relationships with community banks and credit unions serving underrepresented minority communities, as well as investing directly into Black and minority-led startups and minority-focused investment funds.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering paid time off as vaccine benefit to all its employees amid the ongoing vaccinations against coronavirus. The company also announced bonuses to its hourly employees as a gratitude for the resilience shown by them as frontline workers during the crisis. The electronics retailer said it is offering paid time off for any employee who gets a COVID-19 vaccination. Entertainment company Walt Disney Co.'s exclusive streaming service Disney+ has added more content with the addition of the Star brand which launched today on the platform across Australia, New Zealand, Canada, and Europe. Disney+ with Star also launched today in Singapore, the first market to launch with the new general entertainment brand. Off-price retailer TJX Companies, Inc. (TJX) reported Wednesday that profit for the fourth quarter plunged from last year. Both earnings per share and sales for the quarter also missed analysts' expectations. TJX's net income for the quarter plunged to $325.52 million or $0.27 per share from $984.79...
RELATED NEWS
Follow RTT