wage gap

Theranos Charged with Massive Fraud, Toys 'R' Us Plans to Close Its Doors

  • BIOTECH BOMBSHELL: Theranos executives Elizabeth Holmes and Ramesh “Sunny” Balwani have been charged with "massive fraud" by the SEC,Institutional Investor reports. This is after the two claimed for years that their purportedly revolutionary blood testing device actually worked. Spoiler alert: it didn't.
  • THE END: Toys 'R' Us will soon close its doors, but Amazon isn't to blame, CNNreports. Instead, blame the private equity firms that saddled the toy retailer with debt through a leveraged buyout
  • THE TIPPING EQUATION: The New York Times released an investigative report this week on the ways servers have to endure sexual harassment to ensure they are well-tipped. 
  • THE MEDICAL WAGE GAP: Female doctors are paid far less than male doctors, according to Bloomberg. Related: The wage gap starts when we're teens, according to the Guardian
  • 21 SAVAGE ON MONEY: Rapper 21 Savage has announced that he's launching a financial literacy program for kids, according to All Black Media
  • TESLA EXODUS: Another Tesla executive has left the company, Markets Insiderreports. This is the second finance executive to leave the tech company in the past week. 
  • SNAP BETTER HAVE RIH'S MONEY: Snapchat's stock fell nearly 5% on  Thursday after the app ran a problematic af ad about Rihanna's abuse by Chris Brown, Reuters reports. This isn't the first time the app's stock has fallen on celebrity input. In February, Kylie Jenner tweeted about Snapchat's updates and the app's stock lost $1.3 billion in value, according to Time
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Barclays Pays Women Significantly Less Money than Men, Victoria's Secret's Parent Company Struggles to Stay Afloat

  • BARCLAYS PAY GAP: Barclays PLC, a UK-based bank, revealed that it pays female investment bankers 48% of what it pays their male counterparts. The gap grows to 79% for discretionary bonuses, according to Bloomberg
  • VICTORIA'S SECRET STRUGGLE: The parent company of Victoria's Secret, L Brands, is floundering, according to Markets Insider. Panty prices have dropped and the brand may have focused too much on its PINK offerings. Hate to say we told ya so, but we told ya so 
  • BEAUTY NEWS: Glossier has snagged a third round of venture capital funding worth $52 million, according to Recode. Meanwhile, its cheaper counterpart, Deciem (The Ordinary's parent company), is struggling as its founder has fired the beauty brand's co-CEO rather publicly, Racked reports. And ClassPass is adding wellness and beauty treatments to its offerings, Byrdiesays. 
  • BLACK VENTURE CAPITALISTS: We love this list of 25 black venture capitalists to watch in 2018 from Pitchbook. Want to know what it's like to raise VC money as a black woman in 2018? Check out this Refinery29 piece. 
  • HEDGE STRUGGLES: A major reason hedge funds are struggling to keep pace with other investment firms? Its their lack of diversity, according to Business Insider.
  • MEDICAL #METOO: Women working at hospitals and in the medical field struggle with sexual harassment and assault too, NBC reports. 

- Alicia McElhaney / She Spends Issue #42

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