Federal Reserve Board Chairman Jerome Powell, left, and Treasury Secretary Stephen Mnuchin, bump elbows at the conclusion of a House Committee on Financial Services hearing on oversight of the Treasury Department and Federal Reserve pandemic response, Tuesday, June 30, 2020 on Capitol Hill in Washington. (Bill O'Leary/The Washington Post via AP, Pool)
WASHINGTON (AP) --
President Donald Trump on Saturday signed into law a temporary extension of a subsidy program for small businesses battered by the coronavirus,
The legislation extends the June 30 deadline for applying for the program to Aug. 8. Lawmakers created the program in March and have modified it twice since, adding money on one occasion and more recently permitting more flexible use of the funding despite some grumbling among GOP conservatives.
About $130 billion of $660 billion approved for the program remains eligible for businesses to seek direct federal subsidies for payroll and other costs such as rent, though demand for the Paycheck Protection Program has pretty much dried up in recent weeks.
The Democratic-controlled House voted on Wednesday to approve the extension of the program after the Republican-controlled Senate did the same.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion … could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
