CBX Daily 10/9/2024

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CultureBanx Team
October 09, 2024

Today, the supplier diversity plan at Intel is moving forward steadily, but let’s start with how credit ratings are affecting African economies harshly…

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African Nations Are Losing $75 Billion To Biased Credit Ratings

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African nations face disproportionately high borrowing costs due to low credit ratings, which are often based on subjective assessments by global rating agencies. Only two countries, Botswana and Mauritius, hold investment-grade ratings, leaving the rest of the continent with limited access to affordable credit. For example, Kenya spends more than 60% of its revenue servicing debts, severely constraining its ability to invest in critical development areas like infrastructure, education, and healthcare.

Unpacking The Corporate Billion Dollar Diversity Supply Chain Bait & Switch

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Intel's (INTC +5.84%) commitment to a diverse supply chain was supposed to leverage the purchasing power of the small business owner and address social gaps in pursuit of fair and equitable business practices. The company claims that its $2.2 billion in diverse supplier spending represents nearly 15 times the annual total from when the program launched in 2015. Are diverse organizations within the supply chain link actually benefiting from these programs?

Economic Gains From African & Caribbean Oils Are On The Horizon

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The global demand for natural oils is experiencing a surge due to their versatility in food, cosmetics, and pharmaceuticals. Today, Indonesia and Malaysia dominate the global palm oil market, producing around 85% of the world’s supply. This presents a unique economic opportunity for regions such as Africa and the Caribbean, particularly with red palm and coconut oil. Both areas are historically rich in the natural resources necessary for oil production. At the same time, African countries struggle to compete due to a lack of investment, outdated infrastructure, and economic barriers.

Tune-in Tuesdays!

Mars’ acquisition of Kellogg, the maker of Pringles and Pop-Tarts, for $36 billion has ignited a conversation about healthier snacking options in a market often dominated by indulgent treats. In an age where food choices reflect broader lifestyle values, should major corporate decisions prioritize health-conscious consumers, or is it simply business as usual?

A. “What a Time To Be Alive” by Fall Out Boy – Are we on the brink of a significant shift in consumer demand, where health and wellness take precedence over traditional snack foods, prompting companies to adapt or risk losing relevance?
B. “Complicated” by Nivea – Is this a genuine call for healthier options in the marketplace or merely a reaction to shifting trends that companies will capitalize on for profit without real commitment to change?
C. “Ain’t No Mountain High Enough” by Diana Ross – There’s nothing brands won’t do to stay on top of the game and this includes stepping into uncharted waters.

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like each one of us is an ‘American Idiot.’ The Netflix donation has nothing to do with morals. It’s just not our preferred candidate.

Why Music Artists Like Eve Are Selling Their Music Catalogs

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It was once believed that rap and hip-hop would be a passing fad, yet those genres along with R&B have dominated the last decade of music, with people betting big on the future worth of nostalgia listening. Now hip-hop icon Eve is parting ways with her music catalog for an eight-figure deal, in the ballpark between $25 million and $50 million, according to Music Business Worldwide. As the value of music catalogs soars, artists like Eve are weighing the pros and cons of parting with their intellectual property, a decision that can have lasting impacts on their careers and legacies.

Home Goods Sales Plummet Amid Economic Woes

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It may appear that consumers are skeptical about spending on home goods if the last Wayfair (Wayfair Inc. +4.80%) sales are anything to go by. In the period between April and June, the company has made a $42 million loss in sales having laid off about 13% of their workforce at the beginning of the year. This severe downturn can only be likened to the 2008 financial crisis. Not even the pandemic slowed down the home goods market like this so what's happening and why is there such a significant decrease in demand?

Vibes of the Week

Credit bias "So Bad" for African nations makes Skilla Baby and 4batz spit bars in our CBX Vibes!