ECB’s Lagarde says business needs more women leaders

European Central Bank President Christine Lagarde said Friday that there are still too few women in top jobs, and that the coronavirus pandemic has exacerbated the problem.

“There are still too few women in management worldwide, particularly in the economic and financial spheres, including central banks,” she said in an interview with French economics weekly Challenges.

Lagarde, the first female chief in the ECB’s history, lamented that the 19 eurozone central banks are all run by men, and that she and her German colleague Isabel Schnabel were the only women on the ECB’s 25-member governing council. 

“That’s not how it should be!” she said.

Arguing for changes in the workplace, Lagarde said men should be encouraged to take paternity leave, and it should be granted to them for “longer periods than their current entitlement of a few days or weeks.”

Noting that the gender wage gap was still 13 percent

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How mass incarceration became ‘a business opportunity’ in America

This is part 1 of Yahoo Finance’s Illegal Tender podcast about the for-profit prison industry. Listen to the series here. 

Mass incarceration in the U.S. grew over decades as more politicians with tough-on-crime stances became elected to office and laws changed surrounding sentencing. 

In that environment, the private prison industry became a place to generate a lot of revenue.

“A lot of these criminal laws were changed with the political support of individuals who supported the private prison corporation because they saw a business opportunity,” Amy Fettig, executive director at The Sentencing Project, told Yahoo Finance’s Illegal Tender podcast. “They saw the incarceration, the denial of freedom of our fellow Americans, people in our community as a business opportunity.”

A boy carries cash to visit his mother at California Institute for Women state prison in Chino, California May 5, 2012. (REUTERS/Lucy Nicholson)

The U.S. has the most private prisons

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NYC business leaders urge ‘immediate action’ from de Blasio to fix Big Apple’s rot

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7 Nasdaq Stocks You Need To Buy Before They Bounce Back Up

Well, that was quite the exciting turn of events. After months of steady gains, stocks have finally gone down. Last Thursday and Friday, the markets saw considerable profit-taking. The Nasdaq Composite in particular got whacked, with that tech-heavy index falling as much as 9% from peak to bottom last week.For all we know, the selling will continue in the days to come. In any case, this is the time for traders to start loading up their watchlists with Nasdaq stocks to buy.Why focus on Nasdaq stocks? Because that’s where the action has been ever since the novel coronavirus outbreak began shutting down the world. With people stuck at home, created an unprecedented move to put many things onto the internet. Healthcare, education and other essential services that remained largely in-person until now are rapidly migrating to virtual

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Saudi Arabia Pitches Blockchain-Based Business Passport to Boost Trade Finance

Saudi Arabian business leaders think they have a solution to trade finance woes caused by COVID-19: a blockchain-based business passport to cut through red tape.

  • This “Global Value Chain” (GVC) passport would allow firms already following their host country’s financial rulebook to tout their credentials elsewhere, easing trade and increasing financial access globally, according to the Saudis’ Wednesday proposal before a group of G20 business leaders, developed in partnership with the OECD.
  • Blockchain technology would provide the GVC Passport a distributed, trusted, real-time source for global regulators to verify business’ accreditation claims, according to the Saudis’ accompanying white paper.
  • The result: a more efficient financial system with firms – especially small and midsize ones that normally lack a global presence –  cut free from repetitive, redundant, cross-border regulatory burdens, the Saudis said.
  • “SMEs represent 90% of businesses and 50% of employment worldwide, and therefore hugely impacted by the events
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