Money

Twitter is testing new ways to fight misinformation. Is an open-sourced method the answer?

Since its launch in 2006, Twitter has taken small steps to fight false information, from uprooting bot accounts to banning political ads. In 2020, the microblogging service is making moves like never before—not only to crack down on false information, but to correct it. But exactly how they plan to do so remains on the …

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Lowe’s anemic e-commerce growth is helping Home Depot deepen its lead

In the era of the so-called retail apocalypse, reporting even modest in-store sales growth should seem close to miraculous. But that’s not the case for Lowe’s. On Wednesday, the $72 billion-a-year home improvement giant reported a 2.6% increase in comparable sales for the fourth fiscal quarter of 2019. Up against its biggest competition, Home Depot, …

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Trump administration budget cuts could become a major problem as coronavirus spreads

The Trump administration recently requested $2.5 billion in emergency funds to prepare the U.S. for a possible widespread outbreak of coronavirus. Critics, though, are pointing out that money might not be necessary if the administration hadn’t spent the past two years largely dismantling government units that were designed to protect against pandemics. The cuts started …

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Oil demand was set to rise in 2020, then the coronavirus outbreak hit

At an oil industry event this week, as a waiter circled a ballroom only half-full of analysts and executives, an attendee presented with a tray of finger-food dumplings greeted the offer with a yelp of dismay. “Really?” she said. “Coronavirus!” The waiter quickly located forks, but the mood had been set: At this year’s International …

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The Democratic Presidential hopefuls face off in South Carolina

This is the web version of raceAhead, Fortune’s daily newsletter on race, culture, and inclusive leadership. To get it delivered daily to your inbox, sign up here. In last night’s Democratic debate, we entered the “I care about Black people” part of the presidential campaign. To be fair, the Democratic candidates this cycle have been, generally …

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Credit Karma was acquired rather than pursuing an IPO—and more companies may follow suit in 2020

The mega fintech acquisitions continue. Intuit will pay about $7.1 billion, about half in cash and half in stock to acquire Credit Karma, with the deal expected to close in the second half of 2020, the companies announced Monday. While the plan is to keep the two companies separate and have Credit Karma CEO Kenneth …

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Two iconic CEOs step down

Good morning. Two iconic CEOs stepped down yesterday. Disney’s Bob Iger left the job he has held for 14 years. And Mastercard‘s Ajay Banga, who has held the job for a decade, said he will step down at the end of the year. Iger will remain chairman until the end of 2021; Banga will become …

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