How do you get a loan when your business is in the ‘wrong’ part of town?

A study has found that businesses in lower-income and minority areas received surprise a smaller share of bank loans than those in richer, whiter areas Want to improve your relationship with your banker? The answers easy: just move your business to a nicer part of town. Unfortunately, thats the very real problem faced by many small businesses around the country who are located in lower-income or minority areas. This conclusion was reached in a told the Woodstock Institute. Beard cannot obtain a traditional bank loan so her new business, Marys Master Cleaning Service, can bid on contracts and hire formerly incarcerated people who need jobs. Shes certainly not alone. Ive been my own bank. No one should have to do …

Capitalism gone wrong: how big pharma created America’s opioid carnage

A web of firms ramped up narcotic painkiller sales, creating the biggest drug epidemic in American history as profits surged As Oklahomas attorney general, Mike Hunter laid out his indictment against one of the biggest corporations in America, he made a point of saying that he was not hostile to big business. The fact that I am a Republican, a conservative and a believer in capitalism and the marketplace does not require me to turn a blind eye when corporations hurt people, Hunter told a state court. When a politician who once worked for the banking industrys lobby arm, and who sided with oil companies against environmental regulations, is not only suing a multinational for $17bn but accusing it of …

Russia Targets Tinder as a Warning to Facebook and Twitter

Russia has millions of internet users. But if you want them to use your search engine, network on your social media platform, or use your messenger to share their favorite memes, then Russia wants you to know one thing: You have to play by its data-sharing rules. Tinder is the most recent platform to get the message. Last week, the Russian communications censor Roskomnadzor added the popular dating site to a list of 175 companies that it says have agreed to store user data and messages in Russia and to share that data with Russian government and intelligence agencies. Apple is not on the list, but reportedly already stores some of its data in the country. Other non-Russian companies on …

Socialism for the rich: the evils of bad economics

The long read: The economic arguments adopted by Britain and the US in the 1980s led to vastly increased inequality and gave the false impression that this outcome was not only inevitable, but good In most rich countries, inequality is rising, and has been rising for some time. Many people believe this is a problem, but, equally, many think theres not much we can do about it. After all, the argument goes, globalisation and new technology have created an economy in which those with highly valued skills or talents can earn huge rewards. Economics Corrupted Us by Jonathan Aldred, published by Allen Lane and available at guardianbookshop.co.uk Follow the Long Read on Twitter at @gdnlongread, and sign up to the …

Cryptocurrency Firms Renew Push to Break Free From SEC Rules

Many cryptocurrency startups and investors are unhappy with the Securities and Exchange Commission’s uncertain approach to the sector, saying the agency is killing innovation and driving companies from the US. Now the Canadian social media company Kik—backed by prominent voices in the crypto world—is stepping up its effort to use the courts to force the SEC’s hand. On Tuesday, Kik announced a crowdfunding effort to help it fight the SEC over the company’s 2017 initial coin offering, in which it sold nearly $100 million worth of a token it called kin. The company says it sold a currency that could be used across a network of apps, whether to get paid for taking surveys or to buy new stickers and …

Big Tech: Breaking Us Up Will Only Help China

Over the past week, both Facebook chief operating officer Sheryl Sandberg and former Google CEO Eric Schmidt made the same appeal to American nationalism, with differing degrees of subtlety: Breaking up Big Tech will only help China. It’s a politically expedient plea as calls for regulating tech intensify amid growing concern about China’s tech prowess and an escalating US-China trade war. But the argument rests on the idea that what’s good for Facebook and Google is good for America. It also ignores how Silicon Valley is simultaneously seeking growth through partnerships with some of those same Chinese competitors, such as Google’s investment in JD.com and reported talks with Tencent to bring Google Cloud to China. Sandberg made her case against …

Melinda Gates Wants Tech to Wake Up to Women’s Empowerment

For almost 20 years, Melinda Gates has been on a mission to make the world better. When she and her husband launched the Bill and Melinda Gates Foundation in 2000, they knew only that they wanted to use their Microsoft wealth to stop children born in poverty from needlessly dying of ailments that were easily cured in developed nations. Since then, their mandate has evolved to include curing disease, developing and delivering new medications, lifting communities out of poverty, and increasing access to opportunity and education. A few years ago, Gates realized one thing unified all those goals: empowering women. She is not alone. Experts working on the world’s biggest problems agree that by helping women, you help everyone. Want …

Women are raking in the money for Hollywood at the box office

BOB AL-GREENE/MASHABLE The female-only networks that women use to share job openings, pass on interview tips, or even just complain about that time their boss interrupted them in a meeting are integral to their success. That’s what new research published in the The study proves that gossip, cliques, and inner circles aren’t bad. For most women, the idea that a tight group of friends can give you a leg up is very relatable. When looking for a new job, for example, a woman may use her secondary connections — or her friends of friends — to find out about open positions that she might not have direct access to, and then talk to her inner circle of friends to understand …