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- Congressional Black Caucus pressures corporations to oppose GOP redistricting ef...
The Congressional Black Caucus is pressuring major corporations across the country to publicly oppose Republican-led congressional redistricting efforts that critics say could weaken Black political representation following a recent Supreme Court ruling on the Voting Rights Act.According to a letter obtained by The Associated Press, the caucus urged more than 250 companies to condemn ongoing redistricting efforts in several GOP-led states and disclose political donations tied to lawmakers backing the efforts.The broader redistricting battle intensified after President Donald Trump encouraged Republican-led states to revisit congressional maps in hopes of expanding the GOP’s narrow House majority. BERNIE SANDERS WARNS OF ‘THE MOST TRANSFORMATIVE ECONOMIC REVOLUTION IN THE HISTORY OF THIS COUNTRY’Some Republicans have argued the effort could help create additional GOP-leaning districts and strengthen the party’s position heading into the midterms, though other GOP strategists have warned aggressive map redrawing could also make some previously safe Republican districts more competitive.The CBC’s push comes amid an escalating mid-decade redistricting fight after a recent Supreme Court ruling weakened key Voting Rights Act protections governing congressional maps. Republican-led legislatures in several states have since moved to redraw district boundaries, arguing the maps should reflect updated legal standards and population shifts.Democrats and voting-rights advocates, however, argue the new maps could dilute Black voting power and reshape the political battlefield ahead of the midterm elections."Corporations that have profited from Black consumers, relied on Black workers, and amassed wealth in part from Black communities cannot look away while Black political power is dismantled in plain sight," Congressional Black Caucus Chair Rep. Yvette Clarke, D-N.Y., said in a statement.The outreach campaign places renewed pressure on corporate America to weigh in on politically divisive voting-rights battles after many major companies scaled back public engagement on racial justice and diversity issues in recent years.Among the companies contacted were firms that previously supported federal voting-rights legislation following the 2020 racial justice protests and the Jan. 6 Capitol riot, including major technology, retail and financial firms.The caucus is asking companies to publicly oppose the redistricting efforts, meet with CBC members to discuss voting-rights concerns and disclose political contributions connected to state-level redistricting campaigns.CLICK HERE TO GET FOX BUSINESS ON THE GOThe effort also reflects growing frustration among some Black lawmakers toward corporations that made public commitments to racial equity following the murder of George Floyd but have since retreated from diversity, equity and inclusion initiatives amid political backlash and legal scrutiny.Fox News' Paul… [TheTopNews] Read More.57 mins ago - BP ousts chairman over ‘serious’ governance concerns as shares tumbleBP abruptly removed Chairman Albert Manifold on Tuesday, citing "serious concerns" tied to governance, oversight and conduct issues, sending shares lower and deepening uncertainty at the oil giant.The company said Manifold, who had served as chairman for just eight months, was removed effective immediately after the board unanimously concluded he should no longer remain in the role."This follows serious concerns raised to the board related to important governance standards, oversight and conduct," BP said in a statement, without providing additional details.The surprise ouster rattled investors. BP shares plunged nearly 10% in London trading and were briefly halted before recovering some losses. The broader European energy sector was down less than 1%.HIGH ENERGY PRICES RISK KEEPING INFLATION ABOVE 2% TARGET, CONCERNING FED POLICYMAKERSThe shakeup lands at a critical moment for BP, which has struggled with investor confidence, lagging stock performance and questions about its long-term strategy.Manifold was brought in last October to help oversee BP’s pivot back toward oil and gas production after years of aggressive climate-focused messaging and renewable energy investments that frustrated some shareholders.The former CRH chief executive, who had no prior energy industry experience, had support from activist hedge fund Elliott Management, which has built a roughly 5% stake in BP and pushed for stronger financial performance.Manifold also helped install current CEO Meg O’Neill, the former Woodside Energy chief, as BP’s fifth CEO since 2020.BP has been plagued by executive instability in recent years. Former CEO Bernard Looney was fired in 2023 after admitting he misled the board about relationships with colleagues. His successor, Murray Auchincloss, exited abruptly in December.The repeated management upheaval has fueled persistent speculation that BP could eventually become a takeover target or face pressure to break itself apart.CLICK HERE TO GET FOX BUSINESS ON THE GOThe latest boardroom drama also comes as major oil companies increasingly prioritize shareholder returns and fossil fuel production over costly green-energy expansion plans amid pressure from investors demanding higher profits and stronger stock performance.Reuters contributed to this report. [TheTopNews] Read More.59 mins ago
- SpaceX IPO Filing Reveals Favorable Terms for Elon Musk
The ways it set up its board and Mr. Musk’s pay appear to benefit him at the expense of other shareholders, corporate governance experts said. [TheTopNews] Read More.1 hour ago - American Airlines picks SpaceX’s Starlink for in-flight Wi-Fi on more than...
American Airlines said it will install SpaceX's Starlink for inflight Wi-Fi on more than 500 of its airplanes. [TheTopNews] Read More.1 hour ago - G.D.P. Is a Flawed Measure of Prosperity. Alternatives Are On the Way.The United Nations has a new plan for weighing economic gains alongside health and environmental progress. But consensus is elusive. [TheTopNews] Read More.2 hours ago
- Ferrari reveals first fully electric car with eye-popping price tagFerrari, the iconic Italian sports car brand, has unveiled its first fully electric vehicle, but the car is going to be out of most people's price range.The Wall Street Journal reported that the starting price would be 550,000 euros in Italy, which amounts to around $640,000.Fox News Digital reached out to the auto company on Tuesday.FERRARI BRINGS BACK LEGENDARY TESTAROSSA NAME WITH 1,050-HORSEPOWER PLUG-IN HYBRID BEAST"The Ferrari Luce is the first electric Ferrari from the Maranello marque," a press release declares.The vehicle can go from 0-100 kilometers per hour, which is about 62 miles per hour, in just 2.5 seconds, and from 0-200 kilometers per hour, which is about 124 miles per hour, in 6.8 seconds, according to the car company.AMERICANS DITCH EVS FOR BIGGER VEHICLES AS AUTO TRENDS REVERSEFerrari places the estimated range at 530 kilometers, with the release saying "in excess of 530 km," which equates to around 329 miles."The electric power source enables a radically new architecture that generously accommodates four doors and five seats. This is the second four-door Ferrari, and the first with five seats," the company noted.HYUNDAI RECALLS OVER 421,000 VEHICLES TO FIX SOFTWARE BUG CAUSING UNEXPECTED BRAKINGGET FOX BUSINESS ON THE GO BY CLICKING HERE"With Ferrari Luce, we are once again redefining the limits of what is possible. Today, we are not simply unveiling a new car, we are inaugurating a chapter that turns our vision into reality, strengthening Ferrari’s tradition of anticipating and shaping the future," Ferrari President John Elkann said, according to the May 25 release. [TheTopNews] Read More.4 hours ago
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