CBX Daily 5/8/2024

Today J&J’s talc woes has Black women feeling the financial squeeze, but let’s start with how Black people can build wealth and move from lease to keys…

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Can Lease-To-Own Housing Programs Increase Black Wealth?

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Homeownership is an important step to bridging the racial wealth divide. If Black homeownership matched white homeownership, Black wealth would increase by almost $40,000, bridging racial wealth inequality by about 30%. With current mortgage rates the highest they have been since 2008, and the number of homes for sale nationally plummeting, an alternative path to homeownership may be leasing to own your future home.

How Johnson & Johnson's $6.475 Billion Talc Settlement Impacts Black Women

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Pharmaceutical giant Johnson & Johnson (JNJ -0.44%) is set to pay $6.475 billion to settle lawsuits alleging its talc-based products, often associated with health concerns, caused cancer. This unprecedented agreement covers around 60,000 cases, marking a significant moment in the intersections of public health and corporate accountability. For Black women, who were selected by J&J as “the right place” to sell more baby powder to, specifically targeting  “under-developed geographical areas,” this is perhaps an opportunity for financial reciprocity.

Artists Unite Against A.I's Exploitation In New Musical Takeover

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The intersection of technology and creativity has always been a defining characteristic of the music industry. However, with the advancements in artificial intelligence (AI), the line between innovation and exploitation is becoming increasingly blurry, raising concerns about the industry's future. In response to the potential misuse of AI, a coalition of more than 200 artists, including superstars Nicki Minaj and Billie Eilish, is demanding safeguards to protect their voices and identities from being commercially used without their consent, highlighting their vulnerability in this digital age.

Despair-Driven Mortalities Surge Among Blacks In New Shift

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A meticulous analysis of data reveals that despite a long-standing perception of suicidal deaths being predominantly prevalent in the White community, recent trends have seen a significant surge in Black communities. A decade ago, despair-driven deaths among Whites was approximately double that of Blacks, at 72.15 per 100,000 population compared to 36.24 per 100,000. Fast forward to 2022 and the rate for Blacks has tripled to a staggering 103.81 for every 100,000.

The UAE Is Capitalizing On Its Strategic Affair With Africa

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The UNCTAD's World Investment Report 2023 revealed a significant decline in Foreign Direct Investment (FDI) for Africa, dropping to $45 billion in 2022 from $80 billion in 2021, representing 3.5% of the global FDI. Despite this decrease, greenfield project announcements increased by 39%. Greenfield investments are often seen as a way for companies to enter new markets, gain access to local resources, or diversify operations and Africa saw substantial investment in megaprojects. With six of the top 15 projects worldwide valued at over $10 billion each.

Vibes of the Week

Maybe we “Lost Time” tryna buy houses when we could’ve leased to own. Bump into Tiwa Savage’s enchanting vocals in our CBX Vibes!