Business and Finance
Synchrony Commits $100 Million to Grow Minority-Owned Businesses
Invests in Ariel Alternatives’ Project Black Fund to Scale Minority Businesses
Investment Builds on Synchrony’s Efforts to Advance Equity Among Diverse Businesses
STAMFORD, Conn., Feb. 2, 2023 /PRNewswire/ — Synchrony (NYSE: SYF), a premier consumer financial services company, today announced a $100 million commitment in Ariel Alternatives’ Project Black, which aims to scale sustainable minority-owned businesses and position them as leading suppliers to Fortune 500 companies. Project Black is a strategic initiative of Ariel Alternatives, the private equity subsidiary of Ariel Investments, LLC.
“Building a more equitable, inclusive economy is a business imperative.” – Brian Doubles, President and CEO of SynchronyTweet
“Building a more equitable, inclusive economy is a business imperative,” said Brian Doubles, President and CEO, Synchrony. “Our investment in Ariel and Project Black will help give Black, Hispanic and women entrepreneurs the support they need to grow long-term. Synchrony is committed to providing the resources and expertise to advance equity for diverse businesses and communities.”
Project Black invests in middle-market companies that are not currently minority owned, as well as existing Black- and Hispanic-owned businesses, providing capital, resources and minority executive talent. Under Project Black’s ownership, these companies are expected to be transformed into certified minority business enterprises (“MBEs”) of scale to fuel Fortune 500 vendor and supply chain diversity. Synchrony, along with other investors, plans to explore collaboration opportunities with portfolio company management teams to pursue growth strategies.
“Synchrony’s partnership will help fuel widespread corporate vendor and supply chain diversity. With their support, we look forward to creating consequential middle-market businesses, changing the perception of what it means to be a minority-owned enterprise in the United States,” said Leslie A. Brun, Chairman and CEO of Ariel Alternatives. “We are delighted and honored to have Synchrony as an investor in Project Black.”
According to CEO Action for Racial Equity, in 2020, Fortune 500 companies directed an average of two percent ($125 billion) of their total spend to minority-owned businesses, yet many have pledged to dramatically increase their spend. With 95 percent of minority businesses having less than $5 million in revenue, few have the scale to tap into this $1 trillion opportunity.
Advancing equity, diversity and inclusion
These efforts build upon Synchrony’s ongoing commitment to treat equity, diversity and inclusion as a strategic business imperative and drive long term progress. The company’s holistic approach includes advancing financial opportunities and growth among diverse businesses and communities.
- Synchrony and Synchrony Ventures have pledged $20 million to date in venture capital funds led by Black, Hispanic and female investing partners. The funds selected include Company Capital, Chingona Ventures, Seae Ventures, Trail Mix Ventures and Zeal Capital Partners. The company also signed the National Venture Capital Association’s (NVCA) human capital pledge in 2020 to advance a more diverse and inclusive venture ecosystem.
- Since 2021, the company has strengthened its supplier diversity program by expanding internal initiatives and external outreach. As a result, in 2022, Synchrony achieved a 180 percent increase in the number of proposal submissions by diverse suppliers and nearly 70 percent of those were selected to do business with Synchrony. As a member of the National Minority Supplier Development Council and the Women’s Business Enterprise National Council, the company continues to identify and use diverse suppliers whenever possible.
- Synchrony and the Synchrony Foundation’s $50 million, five-year initiative, Education as an Equalizer, increases access to higher education, skills training in high-growth fields, and financial empowerment for underserved communities and its own workforce.
- In 2020, the Synchrony Foundation committed $5 million to support funding of small business grants through community organizations such as the Local Initiatives Support Corporation (LISC) that provides emergency grants to minority- and women- owned businesses and Operation Hope which offers technical support and financial counseling. To date, more than 620 small business owners have received grants and support.
- Synchrony has been highly successful in its effort to hire, develop and advance diverse talent within its own organization through a data-driven approach. The company has included diversity improvements among the metrics used to determine bonus funding for Synchrony leaders. Synchrony has also redesigned its leadership development programs so diverse employees can gain executive coaching, sponsorship and mentorships with senior leaders.
- The company has committed to hire, upskill, advance and improve retention for Black talent without four-year degrees into middle skill and family-sustaining wage jobs. Synchrony has joined OneTen, a coalition of leading companies that is committed to creating a more inclusive corporate America by hiring and promoting one million Black individuals into family-sustaining jobs over the next decade.
- Synchrony hosts an annual Global Diversity Experience for all employees, leaders and members of its Board of Directors to deepen understanding while advancing a culture of belonging and well-being for all.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our “partners.” We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice.
For more information, visit www.synchrony.com and Twitter: @Synchrony.
SOURCE Synchrony Financial
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Tech
When ‘Head in the Clouds’ Means Staying Ahead
Head in the Clouds: Cloud is no longer just storage—it’s the intelligent core of modern business. Explore how “cognitive cloud” blends AI and cloud infrastructure to enable real-time, self-optimizing operations, improve customer experiences, and accelerate enterprise modernization.
Last Updated on February 7, 2026 by Daily News Staff
When ‘Head in the Clouds’ Means Staying Ahead
(Family Features) You approve a mortgage in minutes, your medical claim is processed without a phone call and an order that left the warehouse this morning lands at your door by dinner. These moments define the rhythm of an economy powered by intelligent cloud infrastructure. Once seen as remote storage, the cloud has become the operational core where data, AI models and autonomous systems converge to make business faster, safer and more human. In this new reality, the smartest companies aren’t looking up to the cloud; they’re operating within it. Public cloud spending is projected to reach $723 billion in 2025, according to Gartner research, reflecting a 21% increase year over year. At the same time, 90% of organizations are expected to adopt hybrid cloud by 2027. As cloud becomes the universal infrastructure for enterprise operations, the systems being built today aren’t just hosted in the cloud, they’re learning from it and adapting to it. Any cloud strategy that doesn’t account for AI workloads as native risks falling behind, holding the business back from delivering the experiences consumers rely on every day. After more than a decade of experimentation, most enterprises are still only partway up the curve. Based on Cognizant’s experience, roughly 1 in 5 enterprise workloads has moved to the cloud, while many of the most critical, including core banking, health care claims and enterprise resource planning, remain tied to legacy systems. These older environments were never designed for the scale or intelligence the modern economy demands. The next wave of progress – AI-driven products, predictive operations and autonomous decision-making – depends on cloud architectures designed to support intelligence natively. This means cloud and AI will advance together or not at all.The Cognitive Cloud: Cloud and AI as One System
For years, many organizations treated migration as a finish line. Applications were lifted and shifted into the cloud with little redesign, trading one set of constraints for another. The result, in many cases, has been higher costs, fragmented data and limited room for innovation. “Cognitive cloud” represents a new phase of evolution. Imagine every process, from customer service to supply-chain management, powered by AI models that learn, reason and act within secure cloud environments. These systems store and interpret data, detect patterns, anticipate demand and automate decisions at a scale humans simply cannot match. In this architecture, AI and cloud operate in concert. The cloud provides computing power, scale and governance while AI adds autonomy, context and insight. Together, they form an integrated platform where cloud foundations and AI intelligence combine to enable collaboration between people and systems. This marks the rise of the responsive enterprise; one that senses change, adjusts instantly and builds trust through reliability. Cognitive cloud platforms combine data fabric, observability, FinOps and SecOps into an intelligent core that regulates itself in real time. The result is invisible to consumers but felt in every interaction: fewer errors, faster responses and consistent experiences.Consumer Impact is Growing
The impact of cognitive cloud is already visible. In health care, 65% of U.S. insurance claims run through modernized, cloud-enabled platforms designed to reduce errors and speed up reimbursement. In the life sciences industry, a pharmaceuticals and diagnostics firm used cloud-native automation to increase clinical trial investigations by 20%, helping get treatments to patients sooner. In food service, intelligent cloud systems have reduced peak staffing needs by 35%, in part through real-time demand forecasting and automated kitchen operation. In insurance, modernization has produced multi-million-dollar savings and faster policy issuance, improving both customer experience and financial performance. Beneath these outcomes is the same principle: architecture that learns and responds in real time. AI-driven cloud systems process vast volumes of data, identify patterns as they emerge and automate routines so people can focus on innovation, care and service. For businesses, this means fewer bottlenecks and more predictive operations. For consumers, it means smarter, faster, more reliable services, quietly shaping everyday life. While cloud engineering and AI disciplines remain distinct, their outcomes are increasingly intertwined. The most advanced architectures now treat intelligence and infrastructure as complementary forces, each amplifying the other.Looking Ahead
This transformation is already underway. Self-correcting systems predict disruptions before they happen, AI models adapt to market shifts in real time and operations learn from every transaction. The organizations mastering this convergence are quietly redefining themselves and the competitive landscape. Cloud and AI have become interdependent priorities within a shared ecosystem that moves data, decisions and experiences at the speed customers expect. Companies that modernize around this reality and treat intelligence as infrastructure will likely be empowered to reinvent continuously. Those that don’t may spend more time maintaining the systems of yesterday than building the businesses of tomorrow. Learn more at cognizant.com. Photo courtesy of ShutterstockCulver’s Thank You Farmers® Project Hits $8 Million Donation MilestoneLink: https://stmdailynews.com/culvers-thank-you-farmers-project-hits-8-million-donation-milestone/
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expo
DEWALT Doubles Down on Cordless Concrete Power at World of Concrete 2026
DEWALT will showcase its latest innovations at World of Concrete 2026, emphasizing that cordless tools are now the industry standard. Highlights include the powerful DEWALT POWERSHIFT™ 12 in. Cut-Off Saw and a demolition hammer designed for heavy-duty tasks. Additional tools for concrete applications, including a chemical sprayer, will also be introduced.
DEWALT is heading into World of Concrete 2026 (Jan. 20–22 in Las Vegas) with a clear message for jobsite pros: cordless isn’t a compromise anymore—it’s the new benchmark. In a new announcement, the Stanley Black & Decker brand says it will debut expanded “total concrete solutions,” anchored by two major additions to its DEWALT POWERSHIFT™ lineup and fresh 20V MAX* XR® tool releases aimed at concrete workflows from cutting and demolition to forming and chemical application.
The headline: a cordless cut-off saw that claims the top spot—period
The most attention-grabbing reveal is the DEWALT POWERSHIFT™ 12 in. Cut-Off Saw (DCPS612AG2), which DEWALT calls “the most powerful cordless cut-off saw in the industry” across power source (battery or gas) and blade size (12 or 14 in.). The company says the saw can cut up to 4-3/4 inches deep through concrete, rebar, ductile iron, and more—while avoiding the noise and fumes associated with gas.
On performance, DEWALT highlights runtime metrics like cutting up to eight linear feet of concrete at 4-3/4 inches deep or making up to 156 cuts in #5 rebar on a single charge. Safety and control get a nod too, with an electric brake designed to stop the blade in as little as three seconds after the trigger is released. The saw is expected to be available in fall 2026, kitted with two POWERSHIFT™ batteries and a charger.
A demolition hammer built for the “most demanding applications”
Also joining the POWERSHIFT™ system is the 1-1/8 in. Hex Demolition Hammer (DCPS966AG2), delivering up to 45 joules of impact energy (per EPTA-Procedure 05-2009). DEWALT positions it for heavy-duty demolition work, pairing an all-metal housing with SHOCKS Active Vibration Control® to reduce fatigue.
The tool also includes WIRELESS TOOL CONTROL, allowing users to sync and remotely activate compatible dust extractors (sold separately). Availability is slated for spring 2026, either as a bare tool or as a kit with two POWERSHIFT™ batteries and a charger.
20V MAX* XR® updates: faster forming + concrete spraying support
Beyond POWERSHIFT™, DEWALT is expanding its 20V MAX* XR® lineup with tools that target common concrete job tasks:
- Brushless 21° Plastic Collated Duplex Nailer (DCN910B): Built for concrete forming, temporary bracing, and scaffolding. DEWALT says it delivers up to 3X productivity versus manual nailing (based on its stated test conditions). Available now (tool only), with matching collated duplex nails sold separately.
- Brushless Concrete Chemical Sprayer (DCCS1100B): Designed for concrete spraying applications, with up to 150 PSI, a 10-speed adjustable flow rate up to 0.8 GPM, backpack straps for mobility, and six changeable nozzles. Expected early 2026 (tool only or kitted).
Where to see it
DEWALT says attendees can find the brand in the Silver Lot at Booth #O31324, with interactive demos, giveaways, and events during the show.
For more details, DEWALT points readers to: https://edge.prnewswire.com/c/link/?t=0&l=en&o=4594464-1&h=2600186824&u=http%3A%2F%2Fdewalt.com%2Fworld-of-concrete-2026&a=dewalt.com%2Fworld-of-concrete-2026
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
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Lifestyle
5 Tips to Upgrade Your Home Office
Consider these ideas to blend function, comfort and style, and create a home office that inspires creativity and makes you want to sit down and get things done.
Last Updated on January 26, 2026 by Daily News Staff
5 Tips to Upgrade Your Home Office
(Family Features) Hybrid schedules and remote work have become the norm for many people, which means a functional and inspiring workspace is more necessity than luxury. With the right setup – be it a dedicated room or a cozy corner – your space can boost productivity, spark creativity and make your workday more enjoyable. Consider these ideas to blend function, comfort and style, and create a home office that inspires creativity and makes you want to sit down and get things done. Focus on Comfort The desk and chair are the foundation of any home office. Be sure to build a setup that matches your work style by picking the right height desk (with the proper amount of storage and workspace to complete your tasks) and an adjustable chair with good lumbar support. If you’re at your computer most of the time during the day, an ergonomic keyboard and monitor stand can also make a comfortable difference. Create a Clutter-Free Work Zone Incorporating smart storage solutions like shelves, filing cabinets or baskets can help keep your workspace tidy and free of distracting clutter. Desk trays can keep small office supplies organized and within easy reach while maintaining a clean aesthetic. Add Personality with Decor Much like the rest of your home, your workspace should reflect your personality and style. Add artwork, decorative accents, plants or a photo wall to bring inspiration and freshness to your office and choose a color palette that promotes positivity and focus, such as soft blues, greens or neutrals. Layer Functional Lighting For optimal productivity, combine natural light with task and ambient lighting. If possible, position your desk near a window to capture natural light then supplement your space with a desk lamp for focused illumination and floor lamps, under-shelf lighting or wall sconces to add warmth and depth. Don’t Forget Acoustics Distracting noises can negatively impact focus. To absorb sound, use soft furnishings like rugs, upholstered chairs or curtains and consider a white noise machine if you need a more soothing work environment. Find more ideas to update every room in your house at eLivingtoday.com. Photo courtesy of ShutterstockDiscover more from Daily News
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