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2 warnings and an advisory in effect for 14 regions in the area

See the complete list

WEATHER ALERT

2 warnings and an advisory in effect for 14 regions in the area

GINNI ROMETTY


Paths to avoid crippling student debt

43 million Americans now carry more than $1.7 trillion in student debt. With some questioning the value of a college degree, efforts are being made to eliminate college from many corporations' job requirements, while promoting skills training for "new-collar jobs."

cbsnews.com

Female CEOs saw ranks dwindle in 2020; median pay fell 2%

Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses.

Top CEOs vow to hire 1 million Black Americans

A group including some of the biggest U.S. companies is launching a nationwide campaign to hire 1 million Black Americans over the next decade, with a goal of economically uplifting communities of color. One million family-sustaining careers for Black Americans. OneTen is targeting Black workers first, Rometty said, but the plan is to eventually seek out other racial groups. The November unemployment rate for Black Americans was 10.3%, compared to 8.3% for Hispanics, 6.7% for Asian Americans and 5.7% for White Americans, according to labor data. Narrowing the widening wealth gapHistorically higher Black unemployment and lower annual income, exacerbated by structural racism, have widened the wealth gap between Black and White households.

cbsnews.com

Ken Frazier, Ginni Rometty and other CEOs pledge to train and hire 1 million Black workers in 10 years

Merck chairman and CEO Ken Frazier, as well as executive chairman and former IBM CEO Ginni Rometty, are joining forces with other top CEOs and organizations to close the economic opportunity gap for Black Americans. "Many times, companies require four-year degrees for the kinds of jobs that really do not require a four-year degree," Frazier tells CBS's Gayle King, while explaining that this criteria hurts many Americans, particularly Black Americans, who are unable to afford college. Roughly 36% of all Americans and just 26% of Black Americans had a four-year college degree in 2019, according to the Census Bureau. He adds that when looking at the data, "you can see that there is a huge disparity between opportunities and wealth" for Black families and White families. In 2019, White families had the highest median household wealth of any racial group at $188,200; Black Americans had the lowest median household wealth at $24,100, according to the Federal Reserve.

cnbc.com

Executives announce OneTen coalition to promote meaningful employment for 1 million Black Americans

Executives announce OneTen coalition to promote meaningful employment for 1 million Black Americans Executives Ken Frazier of Merck and Ginni Rometty of IBM join "CBS This Morning" to discuss a new coalition, OneTen. The group seeks to train, hire and promote 1 million Black Americans over the next 10 years.

cbsnews.com

New IBM CEO sent President-elect Biden a letter. Here's why he wrote it

Apple CEO Tim Cook received kudos for a rapport with Trump that averted the worst potential outcomes of a China trade war. Former IBM CEO Ginni Rometty, as well as Cook, joined a White House advisory board on AI and jobs. Same for former Intel CEO Brian Krzanich, who was among the CEOs that quit a Trump council after the Charlottesville race controversy. The IBM CEO sent Biden a letter on Monday outlining technology priorities for the new administration to consider, including the creation of a new technology talent force for national security purposes. But the networks and the various states, as they called for President-Elect Biden, IBM has historically worked with administrations of both parties in order to further our country's economic agenda.

cnbc.com

Remote work is 'here to stay' โ€” even with a vaccine, says former IBM CEO

Technology trends driven by the coronavirus pandemic โ€” such as the shift to remote working โ€” will continue after a vaccine becomes available, according to the former boss of IBM. Her comments came on the heels of an announcement from drug maker Pfizer that its coronavirus vaccine is more than 90% effective in preventing Covid-19 infections. "I actually don't think these technology trends are going to reverse themselves," Rometty told CNBC anchor Karen Tso in an interview for CNBC's East Tech West conference. She added that remote work is "here to stay" and will become part of a "hybrid" model of working that sees some people working in offices, while others stay at home. Aside from IBM, cloud services are sold by rivals including Amazon, Microsoft, Alphabet and Alibaba.

cnbc.com

IBM reports third straight quarter of revenue declines

Here's how the company did:Earnings: $2.58 per share, adjusted, vs. $2.58 per share as expected by analysts, according to Refinitiv. $2.58 per share, adjusted, vs. $2.58 per share as expected by analysts, according to Refinitiv. Revenue: $17.56 billion, vs. $17.54 billion as expected by analysts, according to Refinitiv. At that time IBM issued preliminary results, saying it expected $2.58 in adjusted earnings per share on $17.6 billion in revenue. In the third quarter IBM announced the acquisition of WDG Automation, a Brazilian software company.

cnbc.com

Work to end racial injustice may be โ€˜greatest mobilizationโ€™ of corporate America to better society

IBM Executive Chairman Ginni Rometty told CNBC on Thursday that corporate America has the potential to create long-lasting societal change by advancing the cause of racial equality. "The private sector has the ability to create a movement, and actually, I think, this could be the greatest mobilization of the private sector for a benefit of society," Rometty said on "Squawk on the Street." Last month, IBM unveiled a new quantum education and research initiative for historically black colleges and universities that includes a $100 million investment. Rometty, who was IBM's first female CEO, on Thursday also touted the work of IBM's Pathways to Technology initiative, a six-year program for high school students that focuses on the STEM fields โ€” science, technology, engineering and mathematics. Students complete high school requirements while also earing an associate degree and job opportunities through the program, which was founded in 2011.

cnbc.com

Trump wants federal hiring to focus on skills over degrees

WASHINGTON President Donald Trump is preparing to direct the federal government to overhaul its hiring to prioritize a job applicants skills over a college degree, administration and industry officials say. The federal government is the nations largest employer with 2.1 million civilian workers, excluding postal service employees. Ivanka Trump predicted the change in federal government hiring would create a more inclusive and talented workforce. We are modernizing federal hiring to find candidates with the relevant competencies and knowledge, rather than simply recruiting based on degree requirements, she told The Associated Press in a statement. The White House isnt eliminating degree requirements altogether but instead will stress skills in jobs where having a degree is less important.

Trump wants federal hiring to focus on skills over degrees

WASHINGTON President Donald Trump is preparing to direct the federal government to overhaul its hiring to prioritize a job applicants skills over a college degree, administration and industry officials say. The federal government is the nations largest employer with 2.1 million civilian workers, excluding postal service employees. Ivanka Trump predicted the change in federal government hiring would create a more inclusive and talented workforce. We are modernizing federal hiring to find candidates with the relevant competencies and knowledge, rather than simply recruiting based on degree requirements, she told The Associated Press in a statement. The White House isnt eliminating degree requirements altogether but instead will stress skills in jobs where having a degree is less important.

AMDS Su, Discoverys Zaslav among highest paid CEOs

Change from last year: 338%Her pay vs typical company worker: 604 times, up from 165Overall ranking: No. Virginia M. RomettyIBM$19.1 millionChange from last year: 9%Her pay vs typical company worker: 354 times, up from 319Overall ranking: 57___5. David ZaslavDiscovery$45.8 millionChange from last year: -65%His pay vs typical company worker: 578 times, down from 1,511Overall ranking: No. Shantanu NarayenAdobe Inc.$39.1 millionChange from last year: 38%His pay vs typical company worker: 266 times, up from 200Overall ranking: No. Larry J. MerloCVS Health$36.5 millionChange from last year: 66%His pay vs typical company worker: 790 times, up from 618Overall ranking: No.

The number of women running Fortune 500 companies hits a new high

The number of women running Fortune 500 companies has hit a new record, according to this year's Fortune 500 list. Currently, there are 37 women leading Fortune 500 firms, an increase from last year's 33 women, which at the time, was a record high. Even with a record high of 37 female CEOs, women make up just 7.4% of the leaders on the Fortune 500 list. Mary Winston, who was the interim CEO of Bed, Bath and Beyond, was the only black woman leading a Fortune 500 company last year. And Geisha Williams, who was the first and only Latina woman heading a Fortune 500 company, stepped down from her role last year; now there are zero Latina women in charge of a Fortune 500 firm.

cnbc.com

New IBM CEO Arvind Krishna says coronavirus crisis will speed up customers' cloud adoption

IBM's new CEO, Arvind Krishna, said on Monday that the spread of coronavirus could push companies to speed up their adoption of modern technologies like artificial intelligence and cloud. Unlike predecessor Ginni Rometty, Krishna has experience running IBM's cloud organization, and in an interview with CNBC's Jon Fortt he said he doesn't wish to dwell on the past. The world is just 20% in to cloud, Krishna said, and it has taken advantage of just 4% of the potential for productivity in AI, said Krishna, who joined IBM in 1990. Monday is Krishna's first day as the chief of IBM, where he replaced Ginni Rometty. WATCH: IBM CEO Ginni Rometty on how the company is assisting in coronavirus fallout

cnbc.com

5 things to know before the stock market opens Friday

Dow to drop on coronavirus concernsTraders work on the floor of the New York Stock Exchange, January 27, 2020. Wall Street bounced off the lows after the World Health Organization declared the coronavirus outbreak a global health emergency but at the same time, did not recommend restricted travel to China. Dow stock Exxon Mobil also issued mixed quarterly results. Amazon is set to open above a $1 trillion market cap. Amazon first hit a $1 trillion market cap in September 2018 but went below that level after the stock market at the time tanked.

cnbc.com

Stocks making the biggest moves premarket: Caterpillar, Exxon, IBM, Amazon & more

Honeywell The industrial conglomerate beat estimates by 2 cents with adjusted quarterly profit of $2.06 per share, but revenue was shy of forecasts. Colgate-Palmolive The consumer products company matched Street forecasts with adjusted quarterly earnings of 73 cents per share, with revenue beating estimates. Amgen Amgen reported adjusted quarterly profit of $3.64 per share, 17 cents above consensus forecasts, with the biotech company's revenue also beating estimates. Electronic Arts Electronic Arts reported adjusted quarterly profit of $2.52 per share, a penny above estimates, with revenue essentially in line. Visa Visa matched Street forecasts with quarterly earnings of $1.46 per share, but the payment network operator's revenue came in below estimates.

cnbc.com

Stocks making the biggest moves midday: Amazon, IBM, Delta, Luckin & more

Amazon Amazon jumped nearly 9% in midday trading after the e-commerce giant reported fourth-quarter earnings well ahead of Wall Street consensus expectations. The company's revenues grew 21% to $87.44 billion for the quarter as its investments in quick shipping lead to more orders. IBM Shares of IBM jumped more than 4% after the computer software company announced CEO Ginni Rometty will step down in April. Chevron Shares of the oil giant slid more than 2% after the company reported a $6.6 billion loss for the fourth quarter. Delta said it will halt China service starting Feb. 6 and last through April 20.

cnbc.com

IBM's Ginni Rometty is stepping down, leaving the Fortune 500 with one fewer female CEO

With Rometty's departure on the horizon, Fortune reports that the number of women leading Fortune 500 companies will dwindle from 35 to 34. Though this number is slightly higher than the record 33 women who were listed in the annual Fortune 500 issue last May , the fact still remains that women hold less than 7% of Fortune 500 CEO seats, while women of color hold even less. Rometty, who became IBM's first female CEO in 2012, will be replaced by executive Arvind Krishna, who currently serves as the company's senior vice president for cloud and cognitive software. Ginni Rometty, Chair, President and CEO of IBM, speaking at the @Work event in New York City, on April 2, 2019. Don't miss: Geisha Williams' departure from PG&E means there are now no Latina Fortune 500 CEOs

cnbc.com

IBM chief calls for 'precision regulation' on AI that weighs privacy against benefits to society

There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday. Rometty called on lawmakers to regulate "how the technology is used," but not necessarily the technology itself. She pointed to facial recognition systems as an example of how such regulation could work. "When you go through an airport to get through safely, to find a criminal, those are good uses of facial recognition," she said. Rometty's comments follow remarks earlier this week from Alphabet CEO Sundar Pichai, who told European regulators to take a "proportionate approach" in its A.I.

cnbc.com

IBM stock falls on revenue miss

Revenue in the third quarter fell about 4% on an annualized basis, IBM said in a statement , even with contributions from Red Hat, an acquisition that closed in the third quarter. Red Hat revenue grew 19% in the quarter on a normalized basis, up from the 14.8% growth in Red Hat's last quarter as an independent company. IBM's biggest segment, Global Technology Services, which includes technology support services as well as infrastructure and cloud services, came up with $6.70 billion in revenue. Systems revenue came out to $1.48 billion, which is shy of the $1.52 billion mean FactSet estimate and down 14.7%. IBM said cloud revenue, at $5 billion, was up 11% in the quarter.

cnbc.com

IBM reports better-than-expected earnings, maintains full-year guidance

IBM reported better-than-expected second-quarter earnings on Wednesday, but the stock bounced around after hours as the company's guidance for the year held steady. In the second quarter, IBM announced a partnership with Cloudera and the sale of commerce and marketing software properties to funds advised by affiliates of Centerbridge Partners. "Even with the Red Hat acquisition, we remain concerned that IBM may have lost momentum in its strategic transformation." IBM reiterated full-year guidance of at least $13.90 in earnings per share, excluding certain items like Red Hat. The company said it will provide updated guidance on Aug. 2, to reflect the impact of Red Hat.

cnbc.com

IBM closes its $34 billion acquisition of Red Hat

IBM closed its $34 billion acquisition of Red Hat, the companies announced Tuesday. Shares of IBM were flat during premarket trading, while Red Hat shares were halted. The acquisition of Red Hat, an open source, enterprise software maker, marks the close of IBM's largest deal ever. Goldman Sachs, J.P. Morgan and Lazard advised IBM on the Red Hat deal. Watch: Red Hat deal will grow cash flow, gross margins in first year: IBM CEO

cnbc.com
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