News

Corporate Strategy

Reuters | Equities.com |

Visa Inc said on Tuesday its political action committee had temporarily suspended all donations last week as it reviews its candidate contribution guidelines.

A host of businesses have said they would cut off campaign contributions to those who voted last week to challenge President-elect Joe Biden’s victory.

“Visa does not tolerate the use of our network and products for illegal activity. We are vigilant in our efforts to deter illegal act...


AP News | Equities.com |

Airbnb said Monday that it’s reviewing reservations in the Washington, D.C., area ahead of next week’s presidential inauguration and will bar any guests associated with hate groups or violent activity.

The move comes as some city officials ask Airbnb, VRBO and other rental hosts to take down their listings until the Jan. 20 inauguration is over.

“There’s no way to guarantee that your guests are not coming to incite violence,” Janeese Lewis George, a Washington city council member, said in a post on Twitter. “Please protect your neighbors and the District from more attacks.”


Reuters | Equities.com |

Republicans in the U.S. Congress faced growing blowback on Monday from businesses that said they would cut off campaign contributions to those who voted last week to challenge President-elect Joe Biden’s victory.

The announcements by Dow Inc, AT&T Inc, Comcast Corp, Verizon Communications Inc, American Express Co, Airbnb Inc, Best Buy Co Inc, and Mastercard Inc, among others, threaten to throttle fundraising resources for Republicans who will soon be out of power in the White House and both chambers of Congress. AT&T and Comcast, for example, are among the biggest corporate donors in Washington.

Greeting-card giant Hallmark Company Ltd said it had asked senators Josh Hawley and Roger Marshall to return its contributions. Representatives for the two Republicans, who both objected to Biden’s certification, did not immediately respond to requests for comment.


Reuters | Equities.com |

Tesla Inc launched a cheaper variant of the Model Y, bringing its sports utility vehicle’s price closer to that of its Model 3 sedan, the electric-car maker’s least expensive car.

The new standard range Model Y is priced at $41,990, only $4,000 more than the entry level Model 3, according to the company’s website.

Shares of the carmaker, which have surged more than 700% in 2020, were up 7.8% to $879.72 at 11:45am ET on Friday.

Tesla’s stratospheric rally has helped Chief Executive Officer Elon Musk surpass Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.


Reuters | Equities.com |

Amazon.com Inc said on Wednesday it would spend $2 billion to create affordable homes in regions where three of its major U.S. employment hubs are located.

The company said it intends to create at least 20,000 affordable housing units in Puget Sound area of Washington State, Virginia’s Arlington and Nashville in Tennessee.

Amazon and other tech companies have faced criticism for driving up home prices in places such as the San Francisco Bay Area due to an influx of workers over the past decade, prompting Alphabet Inc and Facebook Inc to invest in affordable housing.


Reuters | Equities.com |

McDonald’s Corp is hoping 2021 is the year it cracks the crispy chicken sandwich by rolling out three different versions in the United States, as it takes on chains such as Restaurant Brands International’s Popeyes for a share of the growing market.

The world’s biggest burger chain confirmed to Reuters it plans to launch its crispy chicken sandwich in “classic”, “deluxe” and “spicy” versions on Feb. 24. All will contain a new crispy white meat chicken fillet served with crinkle-cut pickles on a toasted, buttered potato roll.


Reuters | Equities.com |

The Russian subsidiary of Japan’s Honda Motor Co said on Wednesday it would stop supplying new cars to official dealers in Russia in 2022 as part of the company’s efforts to restructure its operations.

The company said it would keep its presence on the Russian market with motorcycle and power equipment sales, and retain its activities related to the after-sales service of its vehicles.


Reuters | Equities.com |

Samsung Electronics said on Tuesday it will extend production of liquid crystal display (LCD) panels for TVs and monitors, as stay-at-home trends of the coronavirus pandemic created an uptick in demand.

Samsung Display’s decision to extend LCD production in South Korea for an unspecified period of time overrides its announcement in March that it would end all production by the end of the year to focus on more advanced technology.


Reuters | Equities.com |

Survey-software seller Qualtrics International Inc, owned by business software group SAP, filed for a U.S. initial public offering of up to $100 million on Monday, with tech stocks largely outperforming the broader market this year.

Qualtrics, which SAP bought for $8 billion two years ago, will have two classes of common stock upon completion of the offering, with SAP America Inc set to own all 423.2 million Class B shares and remain the controlling shareholder, according to a regulatory filing bit.ly/3hovgWM.


Reuters | Equities.com |

Alphabet Inc’s Google this year moved to tighten control over its scientists’ papers by launching a “sensitive topics” review, and in at least three cases requested authors refrain from casting its technology in a negative light, according to internal communications and interviews with researchers involved in the work.

Google’s new review procedure asks that researchers consult with legal, policy and public relations teams before pursuing topics such as face and sentiment analysis and categorizations of race, gender or political affiliation, according to internal webpages explaining the policy.