SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Amazon Inc. will be conducting an independent racial equity audit, and this will be led by former US attorney general Loretta Lynch. She will be probing the “disparate racial impacts” in the company’s workforce.
As per CNBC, Amazon is carrying out this probe as it faces strong pressure from its shareholders. The e-commerce giant officially joins other American companies such as Tyson Foods and Citigroup Inc. with its agreement to the said audit.
It was explained that this type of audit is an examination of companies to determine if their businesses caused and allowed discrimination in the workplace to continue. Former attorney general Lynch who is also a partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP law firm, will be handling the investigation, as announced by Amazon late last week.
The racial equity audit at Amazon will be done on hourly workers. The decision for the probe comes after the company’s stakeholders urged the management to be more transparent on how its policies affect equity, diversity, and workplace inclusion in the office.
Moreover, in the recent securities filing, Amazon stated that its independent probe will assess “any disparate racial impacts on our nearly one million U.S. hourly employees resulting from our policies, programs, and practices.”
Jeff Bezos’ company also promised to share the results of the audit with the public. However, it did not mention any expected date for the completion of the probe. The shareholders have been urging Amazon to launch a racial inequities review for a while now and finally, the management has granted the request.
“Amazon has taken some measures to address racial justice and equity, including committing financial resources and publishing workforce diversity data,” part of the shareholder proposal for the audit reads. “However, Amazon faces controversies, some significant, that pose various risks and raise questions related to the company’s overall strategy and the company’s alignment with its public statements.”
The Financial Times reported that Amazon’s audit will not include its subsidiaries such as Whole Foods. Finally, the racial equity probe stemmed from the call for major companies to act on the issues regarding civil rights in the wake of George Floyd’s murder in 2020.
