Friday, April 4, 2025, marked the second consecutive day major U.S. stock indexes fell sharply, a downtrend that follows President Donald Trump’s recent tariffs announcement and China’s Friday morning declaration to impose a 34% duty on U.S. goods in retaliation. According to NBC News, significant market losses included Tesla , Elon Musk’s electric vehicle company, which fell by approximately 10%; agricultural equipment leader Caterpillar, down about 6%; and top AI chip manufacturer Nvidia, which declined by approximately 7%. The S&P 500 index, which tracks 500 leading U.S. companies, dropped more than 4%, down more than 16% from its peak. The Russell 2000 index, which follows stocks of smaller U.S. companies, plummeted by 5.3%. Global markets also experienced significant sell-offs, with European stocks declining 10% from recent highs and Asian markets facing sharp drops. After the market had closed on Wednesday, April 2, 2025, Trump announced from the White House’s Rose Garden that...

While fans are focused on new music, Cardi B is focused on creating generational wealth. Cardi B has aligned herself with various endorsement deals over the years from Pepsi, Reebok, NYX Professional Makeup, and Fashion Nova, which she worked with earlier on in her career. As AFROTECH previously told you, Fashion Nova paid the rapper $200 for every post back in 2016, two years before the release of her successful debut album “Invasion of Privacy.” That number went as high as $20,000 per month, according to Vox. In April 2024, she revealed she was earning over $5 million from brand deals. Cardi B has proven she is able to bring in the dough for companies, and over the past couple of years she is now doing the same on her own terms. In 2021, Cardi B launched Whipshots in partnership with Starco Brands, which sold 5 million cans within three years, a press release mentions. View this post on Instagram A post shared by Whipshots ™ (@whip_shots) Launching Apparel And Beauty Brands Cardi...

The global economy is not just shaped by technology or innovation — it’s governed by decisions made behind closed doors, often under the guise of economic strategy. One such decision, the imposition of tariffs, is anything but neutral. It is an instrument of pressure, a marker of priority, and increasingly, a reflection of geopolitical posture. Tariffs have reemerged as a centerpiece of American economic policy, not as quiet fiscal levers but as loud, disruptive statements. The Trump administration’s recent directive — a flat 10% base tariff on all imports and a sweeping set of reciprocal tariffs targeting nearly 90 countries — represents a radical reorientation of U.S. trade policy. In an interconnected world already strained by inflation, global supply chain challenges, and diplomatic fragility, these decisions matter deeply — and immediately. What Are Tariffs? At their core, tariffs are taxes on imported goods, imposed by governments to influence the cost and flow of trade. By...

Cost of Doing Business (CODB), the holding company co-founded by Topicals CEO Olamide Olowe and President Sochi Mbadugha, has acquired premium haircare brand Bread Beauty Supply. According to a news release, the acquisition is CODB’s first step in building brands that connect culture, community, and commerce — especially as many companies scale back their diversity, equity, and inclusion (DEI) efforts . “At a time when DEI commitments are being rolled back, it’s critical that Black-owned businesses not only survive — we have to win,” Olowe said. “Maeva Heim, BREAD’s Founder, is one of the most talented creatives in the space and has led BREAD to have a major impact in the hair care industry, and with CODB’s resources and expertise, we’re ensuring that it continues to grow while remaining deeply rooted in its mission and creative ethos.” Photo Credit: Gold Owolabi With Bread now under CODB, the brand is set for growth while preserving its commitment to textured hair care. The...

Tariffs on imported goods imposed by President Donald Trump will impact small business owners. AP News reports that the Trump administration has announced new tariff policies, including a 34% tax on imports from China, a 20% tax on imports from the European Union, and a 10% baseline tax on most imports. According to a press release from the White House, the 10% baseline will take effect at 12:01 a.m. EDT on April 5, 2025, while the countries with higher tariff rates will have to comply by at 12:01 a.m. EDT on April 9, 2025. Trump hopes to restore balance to global trade and believes imposing these tariffs will lead to billions in revenue for the U.S., AP News notes. “I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means they do it to us and we do it to them… This is one of the most important days in my opinion in American history,” Trump said during a “Make America Wealthy Again” event on April 2, according to...

Costco’s consumer base is on the rise. According to Retail Brew, the retailer has continued seeing an increase in its foot traffic, having reached its 13th consecutive week during the week of March 17. Costco’s influx of customers is in part due to its decision to uphold diversity, equity, and inclusion (DEI). It sparked a “buy in” led by Civil Rights activist Rev. Al Sharpton in January 2025 at Costco Wholesale, 1055 Hudson St., in Union, NJ. “We are planning to release a boycott list in the coming days,” Sharpton told TMZ at the time. “But in the interim, we are going to do a ‘buy-cott,’ which means we are going to support those who support diversity.” As AFROTECH™ previously told you, Costco’s board of directors requested for its shareholders to vote against a proposal from the National Center for Public Policy Research (NCPPR) that would dismantle its DEI programs. “Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and...

Target’s foot traffic has taken another decline amid a 40-day boycott. As AFROTECH™ previously reported, the retailer reversed its three-year diversity, equity, and inclusion (DEI) commitments, dismantling a program that helped Black and minority-owned businesses secure shelf space. Additionally, the company is no longer required to submit reports to external diversity-focused groups. “Many years of data, insights, listening, and learning have been shaping this next chapter in our strategy,” said Kiera Fernandez, chief community impact and equity officer at Target, according to NBC News. “And as a retailer that serves millions of consumers every day, we understand the importance of staying in step with the evolving external landscape, now and in the future — all in service of driving Target’s growth and winning together.” This comes as other major companies , like Walmart , have removed race and gender as factors for granting supplier contracts. McDonald’s also discontinued its...

In a political landscape where economic promises often shift with the news cycle, one topic has managed to grab headlines and public curiosity alike: DOGE checks. Tied to the Department of Government Efficiency (DOGE) — an initiative linked to Elon Musk and President Donald Trump’s administration — the proposed stimulus would direct billions in alleged government savings back to American taxpayers. But is this an actual policy shift or a high-profile thought experiment? Here’s what we know. What Are DOGE Checks? DOGE checks are a proposed stimulus payout drawn from cost-cutting measures implemented by DOGE. Since its launch in January, DOGE claims to have saved the federal government $130 billion by downsizing federal agencies and eliminating redundancies. According to Newsweek, the Trump administration has set a $2 trillion savings goal, with the potential for Americans to receive direct financial benefits from these efforts. The term “DOGE checks” gained traction following a...

Success comes with its moments, and Pinky Cole Hayes knows this firsthand. Cole Hayes is the mastermind behind Slutty Vegan restaurant, with seven locations, primarily in Georgia. As AFROTECH™ previously reported, the company’s market value was estimated at nearly $100 million by 2022, which included $25 million from a Series A funding round. Over the years, the company’s triumphs included expanding to Hartsfield-Jackson Atlanta International Airport and Spelman College, although the location at the HBCU has since closed. Cole Hayes has experienced roadblocks with the venture in 2024, and those challenges led to her losing the business, she told People. “Right now, in this moment, I’ve really been in a place of peace, but I had a really rocky 2024. Our corporate overhead was about $10 million,” Cole Hayes mentioned to People. “I was chasing something that I couldn’t catch for so many reasons.” Cole Hayes also acknowledged that she had not been “the operational person,” which has led...

LeBron James paid it forward to his mother when he signed a lucrative contract with Nike. The Akron, OH , athlete was drafted to the NBA in 2003 as a No. 1 overall pick, according to Basketball Reference. In his rookie year with the Cleveland Cavaliers, he caught the attention of Nike, Adidas, and even Reebok, which would have amounted to a $10 million shoe deal. As AFROTECH™ previously reported, James ultimately rejected the Reebok deal since it came with the condition of being unable to speak with other companies. “Me and my mom were living in an apartment—section 8 housing in Akron. I’m going back. I don’t have sh-t, whatever, and my mom looked at me. She said, ‘Son, trust your gut. If they’re offering you this, then who knows what the other companies may offer you.’ She’s super composed. She’s like, ‘We ain’t got sh-t already, so it’s not like it changes our life in this moment. Maybe in the future, but I want you to trust your gut and do what you think is right,’” James said on...

Tisha Thompson is among the 2% of female founders who have successfully secured funding. Thompson launched LYS Beauty in 2021, a clean color cosmetics brand designed to serve a diverse range of skin tones and types, according to its website. Her journey in the beauty industry began during college when she worked as a makeup artist to support her education while studying accounting, Fortune reports. After earning her degree, she secured an accounting role at PÜR Cosmetics, where she quickly advanced through the ranks, eventually becoming VP of Marketing and Innovation. “During my tenure there, I wore a lot of hats, similar to what I do now as a startup founder. I helped to innovate clean beauty product development, supported brand management and marketing, and also oversaw finance and operations,” she told the outlet. Now, Thompson is successfully leading her own business and has stacked on wins since. This includes making history as the first Black-owned clean makeup brand to launch...

The Walt Disney Company and its ABC television network have joined the list of media companies the Federal Communications Commission (FCC) is investigating for their diversity, equity, and inclusion (DEI) practices. On Thursday, March 27, 2025, FCC Chair Brendan Carr announced concerns that Disney and ABC might be “promoting invidious forms of DEI discrimination” and said the agency’s Enforcement Bureau would examine whether any of their past or current policies violated any equal employment opportunity regulations, according to NPR. “Numerous reports indicate that Disney’s leadership went all in on invidious forms of DEI discrimination a few years ago and apparently did so in a manner that infected many aspects of your company’s decisions,” Carr wrote in a letter to Disney CEO Robert Iger. The inquiry follows Disney’s reduction of diversity efforts , including the termination of some initiatives and changes in the language used to describe DEI. “We are reviewing the Federal...

Let’s be honest—when it comes to beauty, Black women have always been the standard, even if the industry has been slow to give credit where it’s due. But while some are still playing catch-up, Danessa Myricks Beauty has already rewritten the rules—and ensured we’re front and center in the narrative. From melting down drugstore makeup in her kitchen to landing on Sephora shelves across the globe, Danessa Myricks didn’t wait for anyone’s permission. She built her own table—and now the world’s pulling up a seat. From “Accidental Artist” to Beauty Powerhouse Myricks didn’t come from a legacy of wealth or beauty school credentials. She came with hustle, vision, and a deep belief that makeup should be for everyone. According to her Closers 2025 Time Magazine feature, after getting laid off from a publishing gig, she took a chance on creativity and started doing makeup—teaching herself through trial, error, and audacity. Her early kits? Straight-up DIY magic. Melting down products to...

Ice-T has officially opened a cannabis dispensary in his home state. As AFROTECH™ previously told you, the Jersey City Cannabis Control Board (CCB) approved his adult-use cannabis dispensary application in partnership with The Medicine Woman —  owned by married couple Charis Burrett and her husband, Luke Burrett — in 2022. “We want everyone to have access to safe cannabis. You are the first application who have said something about the price point. I commend you on that,” CCB member Stacey Flanagan stated . Fast-forward to 2025, and the dispensary has officially touched down in Jersey City, NJ. The Medicine Woman Jersey City held its official soft opening on Thursday, March 27. It will host its grand opening on Saturday, April 19th, and Sunday, April 20th, 2025, according to a press release shared with AFROTECH™. This also marks its first location outside of California. View this post on Instagram A post shared by ICEMFT (@icet) “We’re thrilled to be officially opening the doors of...

Black Economic Alliance Entrepreneurs Fund has reached the halfway point of its funding goal. The fund was launched by the Black Economic Alliance Foundation, which is led by Executive Vice President Alaina Beverly, to create generational wealth for the Black community, working alongside public, private, and social sectors to accomplish this goal, its website notes. Samantha Tweedy is CEO of the coalition behind this effort, Black Economic Alliance, which is made up of “business leaders and aligned advocates.” In 2021, the Washington, DC-based foundation established the Black Economic Alliance Entrepreneurs Fund LP to further its mission and has since onboarded venture capitalist Melissa Bradley, to lead its investment strategy, according to The Business Journals. Bradley was previously recognized as a AFROTECH™ Future 50 Dynamic Investor and founded 1863 Ventures, which provided business development programs, coaching, mentorship, and access to capital primarily for new...