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☆ A New Jersey homebuilder who pays his workers over $100,000 wants young people to know construction can be a lucrative career that doesn't require college — and businesses are desperate to hire
▼ + stars: | 2024-05-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Bodei's family has been in the construction business for generations, so he'd seen how lucrative it could be to build and renovate upscale single-family homes in affluent suburbs. This story is available exclusively to Business Insider subscribers. Fewer construction workers means less — and slower — residential construction, which in turn leads to higher home prices. Mayra Beltran/Getty ImagesA labor shortage years in the makingThe US has faced a severe shortage of construction workers of all sorts for years. When the financial crisis crushed the housing market in 2008, the construction industry took a massive hit.

Persons: —, Michael Bodei, Bodei, he'd, it's, Sam Laureto, Mayra Beltran, haven't, Ken Simonson, Simonson Organizations: Service, Bodei, Business, Oaks, US, Associated Builders and Contractors, Associated, Contractors of America Locations: Morristown , New Jersey, Houston , Texas, South Florida

☆ China needs Apple even as it tries to push foreign firms out, economist says
▼ + stars: | 2024-03-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China is unlikely to push Apple out of the country, Shehzad Qazi of China Beige Book told CNBC. "In sectors where they think reliance on American firms — software, hardware, anything talked about — is going to become a national security threat, they want American companies out. "In essence Apple needs China and China needs Apple despite all the noise," he said. "With 90% of the supply chain cemented in China Apple will over time move some manufacturing to India, Vietnam, and other regions. However, the vast majority of its iPhone production and suppliers will remain in China and this trip was Apple essentially doubling down on China."

Persons: Shehzad Qazi, Wedbush's Dan Ives, —, Qazi, disinvestment, Dan Ives, Tim Cook, Ives Organizations: CNBC, Apple, Service, Micron, Intel, AMD, Wedbush Securities, China Development, China Apple Locations: China, Beijing, That's, India, Vietnam, Shanghai

☆ Pennsylvania Governor Proposes to Overhaul the State University System
▼ + stars: | 2024-01-26 | by ( Stephanie Saul | More About Stephanie Saul | ) www.nytimes.com time to read: 1 min

Josh Shapiro of Pennsylvania, who has complained that his state’s higher education “isn’t working,” proposed on Friday a sweeping overhaul of the state’s sprawling system that would reduce tuition for many students and determine funding for schools based in part on their performance. The plan would consolidate 10 of Pennsylvania’s state universities and all 15 of its community colleges under one governance umbrella, boost state funding for public higher education, and require students with low to middle incomes to pay only $1,000 a semester in tuition. Most of the plan does not affect Pennsylvania’s best-known public universities, including Penn State, Pittsburgh and Temple. “After 30 years of disinvestment, too many of our colleges and universities are running on empty and not enough students have affordable pathways into good jobs,” Mr. Shapiro said in a statement.

Persons: Josh Shapiro, “, ”, Mr, Shapiro Organizations: Pennsylvania, Penn State Locations: Pittsburgh, Temple

WASHINGTON (AP) — The Federal Communications Commission has enacted new rules intended to eliminate discrimination in access to internet services, a move which regulators are calling the first major U.S. digital civil rights policy. FCC Chairwoman Jessica Rosenworcel said that Congress required the agency to adopt rules addressing digital discrimination, through bipartisan infrastructure legislation passed at the start of the Biden administration. Poorer, less white neighborhoods were found to have received lower investment in broadband infrastructure and offered worse deals for internet service than comparatively whiter and higher-income areas. It is simply not plausible that we could prevent and eliminate digital discrimination by solely, solely addressing intentional discrimination,” said fellow commissioner Geoffrey Starks. President Joe Biden has said the investments in the bipartisan infrastructure law are meant to connect every U.S. household to quality internet service by 2030 regardless of income or identity.

Persons: Jessica Rosenworcel, Biden, ” Rosenworcel, ”, Nicol Turner Lee, Brendan Carr, “ It’s, Carr, Geoffrey Starks, “, Trump, Joe Biden, Christopher Ali, “ That’s, Ali, ” Ali, ” ___ Matt Brown Organizations: WASHINGTON, Federal Communications Commission, FCC, Associated Press, Center for Technology Innovation, Brookings Institution, National Cable and Telecommunications Association, Free Press, Pennsylvania State University Locations: U.S, “

☆ Drought Leaves Midwest Towns ‘Drier Than the Dust Bowl’
▼ + stars: | 2023-11-14 | by ( Shannon Najmabadi | ) www.wsj.com time to read: 1 min

As the nation’s pipes and treatment plants age, water-main breaks and boil-water advisories are becoming increasingly common. WSJ explains how decades of disinvestment brought the country’s water infrastructure to a tipping point. Photo illustration: Ryan TrefesTowns in Mid-America are facing water shortages as they grapple with a multiyear drought. The southeast Kansas city of Caney will run out of water by March 1 without rain, officials said. Four wells in Belle Plaine, Iowa, are producing 40% as much water as usual.

Persons: disinvestment, Ryan Organizations: Ryan Trefes Towns Locations: Ryan Trefes, Mid, America, Kansas, Caney, Belle Plaine , Iowa, Osceola, Des Moines

BALTIMORE (AP) — Three teenagers were wounded in a shooting outside a west Baltimore high school around the time classes were starting Friday morning, officials said. The shooting adds to a recent uptick in youth violence plaguing the city this year, including several instances of Baltimore public school students being shot on or near high school campuses. In the aftermath of the shooting, which was reported just before 8 a.m., frantic parents gathered outside the school. Baltimore City Schools spokesperson Sherry Christian said officials had made contact with parents of the wounded students earlier that morning. The vocational school is located in a west Baltimore neighborhood that has long suffered from cycles of poverty, disinvestment and violence.

Persons: Kevin Jones, ” Jones, ”, Shameka White, “, ” White, Sherry Christian, Carver Organizations: BALTIMORE, Carver Vocational Technical High School, Baltimore, Police, Baltimore City Schools Locations: Baltimore

☆ The Midwest is getting left behind as the rest of America sees big raises
▼ + stars: | 2023-10-24 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Median wage growth for the Midwest was just 0.4% from 2019 to 2022, compared to 5.7% in the Northeast. Declines in unionization and a lack of minimum wage raises have kept wage growth low. This is in contrast to the nation's 3.1% median wage growth during the same period. Workers in the Northeast saw a median wage growth increase of 5.7% during the three-year period, while the West rose 4.7%. Only half of Midwestern states experienced median wage growth since 2019, EPI found.

Persons: —, EPI, Nina Mast, Mast Organizations: Service, Economic, Institute, Workers, American, Union, Midwest, Pacific Locations: Midwest, Northeast, Louis, Indianapolis, Minneapolis, Minnesota, Illinois, South Dakota , Missouri , Ohio, Iowa, , Kansas, Nebraska, Black, American

BALTIMORE (AP) — A medical waste processing company has pleaded guilty to dozens of environment-related charges and agreed to pay $1.75 million in fines after state prosecutors in Maryland accused a south Baltimore incineration plant owned by the firm of exposing the public to biohazardous material. It’s supposed to be burned into ash before being transported to landfills, a process that prevents disease transmission, state officials said Tuesday at a news conference announcing the settlement agreement involving the nation’s largest medical waste incinerator. The fine incurred by Curtis Bay Energy is among the highest environmental penalties imposed in Maryland’s history. Witnesses provided photographs from the site showing substantial amounts of unburned medical waste, including surgical gloves, medical supplies and bedding, according to court documents. In addition to evidence of unburned medical waste, investigators found the company had knowingly installed an illegal pump that was discharging wastewater onto an adjacent property.

Persons: ”, General Anthony Brown, ” Kelly Love, “, ” “, Baltimore Mayor Brandon Scott, Curtis Organizations: BALTIMORE, Curtis, Curtis Bay Energy, Maryland Attorney General’s, ” “ Curtis, ” “ Curtis Bay Energy, Water Fund, Prosecutors, Baltimore Mayor Locations: Maryland, Baltimore, Curtis Bay, Baltimore’s Curtis Bay, Patapsco, Virginia, ” “ Curtis Bay, Curtis

BALTIMORE (AP) — The Baltimore City Council on Monday confirmed Richard Worley as the city’s new police commissioner, a leadership change that comes amid an ongoing push for reform of the embattled agency that began after Freddie Gray’s 2015 death. Harrison led the New Orleans Police Department through a similar reform process before moving to Baltimore. While Harrison brought an outsider’s perspective to the job, Worley is a Baltimore native and a longtime department veteran. Political Cartoons View All 1193 Images“I’ve dedicated my life to serving the Baltimore City Police Department,” he said during a confirmation hearing last month. During the hearing last month, council members once again criticized the department’s lackluster response.

Persons: Richard Worley, Freddie Gray’s, Brandon Scott, Worley, Michael Harrison, Harrison, ”, “ I’ve, I’ve, Pava, Jason Billingsley, Billingsley Organizations: BALTIMORE, Baltimore City Council, New Orleans Police Department, Baltimore City Police Department, Department, Brooklyn Homes, Police Locations: Baltimore, Brooklyn

☆ ‘Friends’ and ‘Seinfeld’ knew the cure for loneliness
▼ + stars: | 2023-09-06 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Racial and class segregation have also long shaped and limited access to public places. "The fundamental rule of public space is that what attracts people most is other people." So it's counterproductive to stop responsible drinkers from enjoying themselves in parks, at street fairs, and in other public places. There are an average of eight public toilets for every 100,000 people in the US, but access to facilities varies widely. By contrast, countries like the UK and Switzerland have many more public toilets per capita.

Persons: Sara Hoy, Hoy, she'd, I've, Erin Boyd, Culdesac, We're, —, Severance, Vivek Murthy, millennials, Sen, Chris Murphy, Murphy, Tina Smith, Smith, Leslie Kern, Kern, Mitchell Reardon, Reardon, Eid, Kristen Ghodsee, who's, Ghodsee Organizations: Central Pennsylvania, Peace Corps, today's, Seneca Village, Dodger, Connecticut Democrat, Minnesota Democrat, Soho House, Social, Centers for Disease Control, East European Studies, University of Pennsylvania, National Association of Realtors Locations: Central, Moldova, Korea, Sweden, Phoenix, Arizona, New York, Seneca, Washington, Rock Creek, Los Angeles, Connecticut, America's, Wethersfield , Connecticut, Minnesota, Soho, America, Seattle, York City, Rochester , Minnesota, Europe, Germany, It's, Switzerland, Homebuyers, Houston, Austin

☆ Bidenomics is reversing decades of disinvestment in key sectors, says CEA chair Jared Bernstein
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBidenomics is reversing decades of disinvestment in key sectors, says CEA chair Jared BernsteinJared Bernstein, chairman of President Biden’s Council of Economic Advisers, joins 'Squawk Box' to discuss President Biden's economic agenda, Bidenomics in the polls, the Fed's inflation fight, and more.

Persons: Jared Bernstein Jared Bernstein Organizations: Biden’s, Economic Advisers

☆ The Tulsa Race Massacre Survivors Still Can’t Get Reparations - The New York Times
▼ + stars: | 2023-07-28 | by ( Victor Luckerson | ) www.nytimes.com time to read: +3 min

More than 100 massacre survivors and their descendants filed a federal civil rights lawsuit against the City of Tulsa, the State of Oklahoma and others. A federal judge ultimately agreed, citing the lawsuits filed by Mr. Franklin and others as evidence that Greenwood residents had already had their shot at restitution. The duty of deciding whether to approve any kind of reparations package will fall to the California Legislature. In Tulsa, Judge Wall recommended that the Greenwood survivors follow a similar route, pursuing justice through the legislative or executive branches. But Oklahoma lawmakers have declined to support reparations bills advocated by state legislators in the past.

Persons: Greenwood, Franklin, George Floyd’s, Damario Solomon, Simmons, Solomon, Wall Organizations: City, State of, Mr, Klan, Tulsa, Black, Oklahoma Locations: Tulsa, State, State of Oklahoma, California

☆ Public pools are disappearing across America
▼ + stars: | 2023-07-22 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

Yet just as public pools become more important than ever, they’re disappearing from sight. Today, the city has five public pools for a population of around 640,000, ranking 89 out of the largest 100 cities in swimming pools per person, according to Trust for Public Land, an advocacy organization for public parks and land. Private pools, like these in Southern California, have replaced public pools in recent decades. When America built poolsWhile public pools are a rarer sight today, governments built enormous pools during the twentieth century. Hannah Beier/ReutersBut the loss of public pools cannot be picked up fully by private pools or non-profit groups.

Persons: Gerome Sutton, ”, Sutton, ” Sutton, Matt Stone, won’t, Tammy Hawkins, We’ve, Andrew Kahrl, “ We’ve, ” Kahrl, Mario Tama, Jeff Wiltse, Robert Moses, ” Wiltse, Victoria Wolcott, Louis, Walcott, Whites, Martin Luther King Jr, ’, Funtown, suburbanites, John Cornell, Wolcott, Kahrl, Kevin Roth, It’s, Hannah Beier, LaShandra Logan, “, ” Logan Organizations: New, New York CNN, National Weather Service, YMCA, Public, Courier, USA, Aqua, Louisville, University of Virginia, National Recreation and Park Association, University of Montana, ”, Hulton, York, federal, Project Administration, San, University at Buffalo, ” Police, D.C, Kerner Commission, The Old, The Old Westbury Country Club, Newsday, Getty, Whites, Recreation and Park Association, Reuters Locations: New York, Louisville , Kentucky, Algonquin, Louisville, West Louisville, Cypress St, America, Southern California, America —, “, New York City, San Francisco, St, Louis, Baltimore, Washington, Los Angeles, Cincinnati, Augustine , Florida, White suburbs, The, The Old Westbury, Mississippi, Cleveland, California, Parks

CNN —A number of high-profile Jewish groups are denouncing Democratic presidential contender Robert F. Kennedy Jr.’s false remarks that “Ashkenazi Jews and Chinese” people are “most immune” to Covid-19. “Covid-19 is targeted to attack Caucasians and Black people. While there are disproportionate rates of Covid-19 illness and death across different demographics, this has been attributed to racial disparities, not genetics. Black and Hispanic people also faced a higher risk of coronavirus infection and were more than twice as likely to be hospitalized. He also railed against the coronavirus vaccine and vaccine mandates.

Persons: Robert F, Kennedy Jr, ’, “, Kennedy, ” Kennedy, it’s, Covid, Kennedy’s, ” Rather, Doug Dechert, ” Dr, Marcella Nunez, Smith, Anthony Fauci, CNN’s KFile Organizations: CNN, Democratic, New York, American Jewish Committee, RFK Jr, Defamation League, New York Post, Centers for Disease Control, Equity, Force Locations: Covid, New York City, Central, Eastern Europe, United States

Then, a deep dive into MrBeast and what his YouTube empire says about the future of the internet. Reddit came along and said, oh, we need to protect Reddit from the rise of these large language models. So I don’t think they’re totally out of the woods. But I don’t think people would say it was a golden age for how safe the platforms fell to use. But I want to challenge you on this, because I don’t necessarily think that it’s a bad thing if we have past peak trust and safety.

Persons: kevin roose, you’ve, casey newton, casey newton Yes, I’ve, there’s, kevin roose I’m, Kevin Roose, ” casey newton, Casey Newton, Casey, Reddit, casey newton Right, roose, Steve Huffman, you’re, Kevin, It’s, They’re, casey newton Well, they’ve, we’re, Huffman, “, Redditors, We’ve, Everyone’s, we’ve, I’m, let’s, Sam Walton, Max, kevin roose Hey, kevin roose Oh, kevin roose Max Read, MrBeast, it’s, Jimmy Donaldson, He’s, Willy Wonka, he’s, somethings, haven’t, kevin roose We’ll, We’ll, kevin roose She’s, she’s, kevin roose MrBeast, Jeremiah, jeremiah howard, Jeremiah Howard who’s, Jimmy, Burger, You’re, Stefan Molyneux, PewDiePie, Paul, Let’s, Raman, kevin roose It’s, MrBeast financials, doesn’t, Logan Paul, they’re, Vincent Miller, Jon Hamm’s, Matthew Weiner’s, kevin roose Max, Will, Max Read, ” kevin roose, casey newton Max, Robert F Kennedy, COVID, Kennedy, Instagram, Connor Roy, Marjorie Taylor Greene, Robert F Kennedy Jr, Elon, Donald Trump, We’re, Jim Jordan, kevin roose Totally, Alex Jones, casey newton Totally, Kate Kalanick, Trump, Tucker Carlson, aren’t, — casey newton, hasn’t, Rachel Cohn, Jen Poyante, Caitlin Love, Alyssa Moxley, Dan Powell, Elisheba Ittoop, Marion Lozano, Sofia Lanman, Rowan Niemisto, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresi, Jeffrey Miranda Organizations: The New York Times, Twitter, YouTube, Lamborghini, Netflix, Walmart, News, Producers, Meta, Instagram, COVID, Democratic, Washington Post, Apple, Republicans, Facebook, 4chan, Republican Party, Trump, Fox News, Stanford, Davis Locations: Hawaii, Reddit, Greenville , North Carolina, hysterics, New Jersey, New York, Greenville, North Carolina, Central, United States, Bay, San Francisco, Stanford

Foreign holdings of Italian government paper increased in February after 10 consecutive monthly declines, according to Bank of Italy data. "This is a magic moment for Italian bonds," he told Reuters. The share of Italian government debt held by foreign investors fell to below 20% at the end of 2022 from around 50% before the 2008 financial crisis, Bank of Italy data shows. The Italian Treasury has already taken steps to shore up demand for its bonds as the ECB retreats, by boosting purchases among domestic households and companies. Together, Italian families and firms now hold around 215 billion euros, or 9%, of Rome's debt, UniCredit's Cazzulani said, the highest level since mid-2015.

☆ Embattled St. Louis Prosecutor to Resign Amid Effort to Disqualify Her
▼ + stars: | 2023-05-04 | by ( Mitch Smith | ) www.nytimes.com time to read: +1 min

The chief prosecutor in St. Louis, who made history as the first Black woman to hold the post but faced widespread criticism for her handling of violent crime, said on Thursday that she would resign on June 1. The prosecutor, Circuit Attorney Kimberly Gardner, a Democrat, was facing an effort by Missouri’s attorney general, a Republican, to remove her from office. Her resignation means the governor, also a Republican, can appoint a replacement to serve as the lead prosecutor in an overwhelmingly Democratic city that has long struggled with high crime rates and disinvestment. In recent months, Attorney General Andrew Bailey accused Ms. Gardner of overseeing an office that failed at its most basic tasks, with warrant applications that went unreviewed for months and overburdened assistant prosecutors who sometimes failed to show up for court. Mr. Bailey said on Thursday that there was no reason for Ms. Gardner to stay until June, and that his office was “undeterred with our legal quest to forcibly remove her from office.”“Every day she remains puts the city of St. Louis in more danger,” said Mr. Bailey, who has asked a judge to remove her.

☆ NAACP sues Mississippi over its expanded control of law enforcement in the state's capital, which the organization says will create 'separate and unequal policing'
▼ + stars: | 2023-04-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

The NAACP sued Mississippi over two new laws created to combat crime in the capital city of Jackson. The civil rights organization said the laws signed by Gov. The House bill establishes a new court system while the Senate bill expands an enforcement area. Tate Reeves after he signed into law two bills that would give state officials more control over law enforcement in Jackson, the state's majority-Black capital city. "Lawmakers and Jackson residents have opposed both bills throughout the legislative session, citing outside attempts to increase policing without adequate training, silence dissent from Jackson residents, and strip residents of their voting power to elect judges and district attorneys who serve their interests," the organization said in a statement.

☆ Chicago Gets What It Voted For
▼ + stars: | 2023-04-08 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Chicago Mayor-elect Brandon Johnson is off to a running start. The hyper-progressive is fulfilling every expectation that he’ll drive even more people and businesses out of the Windy City. Two days after narrowly winning the election, Mr. Johnson thought it a good moment to blame the city’s crime wave on business. “Seventy percent of large corporations in the state of Illinois did not pay a corporate tax,” Mr. Johnson told CBS . “And it’s that kind of restraint on our budget that has caused the type of disinvestment that has led to poverty of course that has led to violence.”

☆ How Modi can grab India’s geopolitical “moment”
▼ + stars: | 2023-04-03 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

India is in a geopolitical sweet spot because of growing tension between the United States and China. The hard-nosed realpolitik view is that this doesn’t matter as India and the United States have a common threat. This matters for India’s economic future, as geopolitical considerations are increasingly driving global commerce. The United States is encouraging this process through what it calls “friendshoring”. Modi can do a lot to make the most of India’s geopolitical opportunity.

☆ Office Doom Loop: Landlords Face a Reckoning As Companies Move to Fancy Offices
▼ + stars: | 2023-03-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +14 min

The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.

☆ Florida Great Displacement: Climate Change Forces Residents to Leave State
▼ + stars: | 2023-02-21 | by ( Jake Bittle | ) www.businessinsider.com time to read: +14 min

The Keys are also the first flock of canaries in the coal mine of climate change. The hurricane made undeniable what previous floods had only suggested: that climate change will someday make life in the archipelago impossible to sustain. The decision to leave, on the other hand, which once signified surrender, now looks more like acceptance of the inevitable. It's this messiness that is reflected in the word "displacement": the migratory shifts caused by climate change are as chaotic as the weather events that cause them. This is an excerpt adapted from THE GREAT DISPLACEMENT: Climate Change and the Next American Migration by Jake Bittle.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

☆ Analysis: Fall in India nominal GDP growth in FY24 to challenge fiscal math
▼ + stars: | 2023-01-09 | by ( Ira Dugal | ) www.reuters.com time to read: +4 min

At least four leading economists expect nominal GDP growth to come in between 8% and 11% as inflation slows and real GDP growth eases from an estimated 7% this year, when pandemic-related distortions and pent-up demand pushed up growth rates. Das said he expects nominal GDP growth of 8%-9% in FY24, with inflation and real GDP growth seen declining. A growth of 8-9% would bring that number close to the 7.6% nominal growth seen in 2019/20, before the Covid crisis hit. State Bank of India and rating agency ICRA estimate the nominal GDP growth at around 10% for next financial year. "Higher-than-budgeted nominal GDP growth,(will help) to keep fiscal deficit as a percentage of GDP at 6.4%, with downside risks," it said.

☆ Analysis: Russian gold removed from some Western funds after Ukraine
▼ + stars: | 2022-12-21 | by ( Peter Hobson | ) www.reuters.com time to read: +6 min

But the data, compiled by Reuters, shows Russian gold being removed at a significantly faster pace than that from other countries. One said he had asked the bank paid to store his fund's gold to allocate as little Russian metal as possible to it. Russian gold removed from such funds was often reassigned to other owners in the same location, the bankers said. JP Morgan, which stored around 1,050 tonnes of gold for the funds, trimmed Russian gold by 13% and non-Russian gold by 9%. However, the two largest funds, BlackRock's (BLK.N) iShares Gold Trust and the World Gold Council's SPDR Gold Shares, actually increased their proportion of Russian gold.

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