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Corporate America pulls the plug on President Trump

January 11, 2021. Summarized by summa-bot.

Compression ratio: 20.4%. 1 min read.

Corporate America has long had a complex relationship with President Donald Trump. Many executives have been critical of his unpredictability, restrictions on immigration and ready use of tariffs — all while benefiting from his 2017 tax cuts and deregulation agenda.

My CNN Business colleague Matt Egan points out that the Business Roundtable cheered on the CEO president after his election in 2016, applauding his tax plans and appointment of Treasury Secretary Steven Mnuchin, a former Goldman Sachs banker.

After years of hesitating to moderate Trump's social media accounts — arguing that the president should be given more slack as a powerful public official — Twitter has barred the president from its platform for good, while Facebook has blocked Trump from posting for the remainder of his term.

A deeper look at the data also reveals a shocking gender gap: Women accounted for all the job losses, losing 156,000 jobs, while men gained 16,000, my CNN Business colleague Annalyn Kurtz reports.

Many men, of course, lost their jobs in December, too — but when taken together as a group, they came out ahead, whereas women fell behind.

But December's job losses capped off an already awful year for working women.

"Those sectors are less likely to have flexibility, so when employers are inflexible or women can't come to work because of caregiving responsibilities — they have to exit the workforce," said C.

In a statement Monday, Britain's Financial Conduct Authority said that investing in cryptocurrencies or related assets "generally involves taking very high risks with investors' money. "

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