IBM agreed to pay $17 million to the U.S. Department of Justice to settle allegations that its diversity, equity, and inclusion (DEI) programs were discriminatory and violated federal law. The settlement is the first under the Trump administration's Civil Rights Fraud Initiative, which uses a Civil War-era law to challenge DEI practices it views as unlawful. The government claimed IBM favored candidates based on race or sex in promotions, bonuses, and training, allegations IBM denied. IBM cooperated with the investigation and modified or ended the contested programs. This case highlights ongoing federal efforts to restrict DEI initiatives, with the Trump administration pushing companies and agencies to eliminate such programs.
IBM's business model remains strong despite a 7% decline in mainframe infrastructure revenue, supported by loyal legacy customers and solid free cash flow. Software growth, especially an 11% increase in Red Hat revenue, helps offset mainframe challen...
Energy prices cooled in June, easing inflation pressures despite ongoing tensions between the U.S. and Iran near the Strait of Hormuz. Morgan Stanley reported record quarterly revenue and profit, boosted by a surge in equities trading fueled by the A...
IBM reported earnings and revenue below expectations due to enterprises reducing spending on traditional IT systems to invest in their own AI infrastructure. This shift indicates companies prefer developing on-premises AI solutions with cheaper open-...
US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflatio...
IBM introduced Power Autonomous Operations, an AI agent that autonomously monitors and resolves issues in Power systems up to 15 times faster than manual methods, enhancing system uptime and efficiency. Alongside, IBM launched the Power S1112, a comp...
