Business

In January 2025, Donald Trump delivered a death knell, ending DEI within the federal government with executive orders and threatening to target companies that still supported it. Companies including Google, Goldman Sachs, McDonald’s and Walmart that had embraced DEI years earlier fell into line and announced an end to their policies.

But new research published on Friday and shared exclusively with the Guardian found that companies that resisted the pressure and kept their DEI practices, including Costco, Apple and Delta Air Lines, performed just as well as their competitors who pulled back.

For the research, Jacob Grumbach, an associate professor at at the University of California at Berkeley’s Goldman School of Public Policy, analyzed how S&P 500 companies fared after Trump’s January executive order. He used what economists define as “abnormal returns” – the difference between how a stock was expected to perform versus how it actually performed – to isolate the impact of a company’s DEI decision.

What he found was the firms that kept their DEI policies or voted down anti-DEI shareholder resolutions did just as well financially, even after Trump’s executive order, as firms that didn’t. In the days after the executive orders were signed, companies that kept their DEI policies actually performed better on the stock market than those that didn’t.

In June, the Trump administration abandoned an effort to try to halt all wind projects and leases across the US, giving up a challenge in court to a judge tossing Trump’s executive order to freeze all permitting and leasing for wind projects.

Standing in front of the most powerful and well-known people in the television news business on Wednesday night, in a glitzy New York City ballroom, 18-year-old high school student Santiago Campos shocked – but also delighted – many in attendance when he called out the network that funded the scholarship he received: CBS News.

Campos, a graduating senior at the District of Columbia international school who had traveled to New York for the 47th annual news and documentary Emmy awards with his mother and teacher, was awarded the Mike Wallace memorial scholarship, honoring the legendary television interviewer. Campos was given the award by veteran 60 Minutes correspondent Scott Pelley, who said: “Mike would see something of himself in this year’s recipient.”

While Campos thanked CBS News for funding the $10,000 grant, he launched into a critique of the network’s direction under editor-in-chief Bari Weiss and owner David Ellison. “I want to also acknowledge how the recent direction of the outlet stains the legacy of Mike Wallace, the namesake of this scholarship,” he told the crowd.

“As corporate elites take hold over the very pipes through which our information flows, journalism that serves the people becomes increasingly harder to come by, yet ever more crucial. And what the people want is the truth. So if at any time you hesitate to utter the word ‘genocide’, or remain silent in the face of blatant lies, remember to ask yourself: ‘Who is this for?’ I hope you choose us.”

Congressional Democrats are strongly opposing a US Department of Labor proposal that would allow 401(k) investments to include cryptocurrency, private credit and private equity assets, arguing the change will expose workers to riskier and more complex investments.

In a letter shared exclusively with the Guardian, Senator Bernie Sanders, Senator Elizabeth Warren and House education and workforce committee ranking member Bobby Scott of Virginia, argued the rule would expose an estimated $14.2tn of 401(k) retirement savings to volatile assets and would probably not withstand a challenge in court.

“This would strip long-held investor protections from retirement savers and encourage the use of more risky, complex, and expensive investments,” said the letter. “The proposed rule is harmful to American workers.”

States are also stepping up. California’s attorney general has a case against Amazon that alleges the giant retailer is coercing other companies to raise prices. Amazon denies the charges. New York City’s new government and a bipartisan bill hope to revive the “click to cancel” rule that bans cumbersome subscription cancellations.