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☆ The 1% has to empower the 99% in capitalism, says Operation Hope's John Hope Bryant
▼ + stars: | 2024-04-22 | 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 EmailThe 1% has to empower the 99% in capitalism, says Operation Hope's John Hope BryantJohn Hope Bryant, Operation Hope founder, chairman and CEO, joins 'Squawk Box' to discuss how Gen Z's view capitalism, equality vs. meritocracy, corporate America's DEI push and subsequent backlash, and more.

Persons: Hope's John Hope Bryant John Hope Bryant Organizations: Operation Hope, DEI

☆ The Gen Z generation has been educated 'to have resentment and a sense of denial', says Frank Luntz
▼ + stars: | 2024-04-22 | 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 EmailThe Gen Z generation has been educated 'to have resentment and a sense of denial', says Frank LuntzFrank Luntz, FIL Inc. pollster and political strategist, joins 'Squawk Box' to discuss his focus group results with Gen Z voters, their view on capitalism vs. socialism, equality vs. meritocracy, their view on democracy, and more.

Persons: Frank Luntz Frank Luntz, Gen Organizations: Inc

☆ Should the SAT still matter after all these years? Why some colleges are bringing it back
▼ + stars: | 2024-04-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +15 min

The longest-enduring standardized college admissions test in the nation, the SAT has faced decades of controversy over bias and criticism for reducing aspiring college students to a test score. Discrepancies with standardized testing appear to be symptomatic of the inequality endemic to the education system. In 2005, the College Board added an 800-point writing section to the exam alongside its math and verbal reasoning sections. In this Jan. 17, 2016 file photo, a sign is seen at the entrance to a hall for a college test preparation class in Bethesda, Md. Alex Brandon/APThe College Board told CNN it has also done away with its esoteric vocabulary in the past decade.

Persons: ”, Carl Brigham, Brigham, classism —, Daaiyah Bilal, Harry Feder, Barnes, Noble, Mario Tama, haven’t, Daniel Koretz, Koretz, Scott Eisen, Brown, ” Dartmouth, Ethan Hutt, Horace Mann, Warren K, Leffler, Alex Brandon, It’s, Rachel Rubin, Jack Schneider, ” Schneider, David Coleman, “, ” Coleman, it’s Organizations: New, New York CNN, National Center for Fair, Princeton, College Board, CNN, National Education Association, ACT, Ivy League, Harvard’s Graduate School of Education, Harvard’s, Dartmouth College, Yale, Dartmouth, Harvard, University of Florida, University of Texas, ” UT Austin, College Board's, University of North, Chapel Hill’s School of Education, Massachusetts, of, Phillips Exeter Academy, of Congress, Census, Board, UMass Amherst’s Center for Education, Holton Arms, The College Board, Khan Academy, The Locations: New York, New York City, United States, Guatemala, Hanover , New Hampshire, Georgetown, Austin, Dartmouth, University of North Carolina, Hutt, “, Boston, Harvard, Bethesda, Md, Iowa, Northeast

☆ The House Republican Going After Universities on Antisemitism
▼ + stars: | 2024-04-16 | by ( Anemona Hartocollis | ) www.nytimes.com time to read: 1 min

Virginia Foxx, the Republican congresswoman from North Carolina, has spent the last few months giving elite schools a hard time. As the chairwoman of the House committee on education, she oversaw a tense hearing in December that spurred the resignations of the presidents of University of Pennsylvania and Harvard. She has led an investigation of a half-dozen institutions for their handling of antisemitism claims. On Wednesday, she will preside over another hearing, this time with officials at Columbia University. The drubbing is part of a campaign by Republicans against what they view as double standards within elite education establishments — practices that they say favor some groups over others, and equity over meritocracy.

Persons: Virginia Foxx Organizations: University of Pennsylvania, Harvard, Columbia University, Republicans, meritocracy Locations: North Carolina

☆ Smucker's fifth-generation CEO said he's no nepo baby and won't let his kids be, either
▼ + stars: | 2024-04-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Mark Smucker, the CEO of J. M. Smucker Company, said the company is a meritocracy. Smucker, a fifth-generation leader, worked outside the company and got a graduate degree before joining. Family members must work outside the company and preferably hold a graduate degree. AdvertisementThe CEO said he was not always keen to join the family business as a child. "One is that you've got to work outside the company no matter what.

Persons: Mark Smucker, —, Smucker's, Orville, Smucker, Fortune, William & Mary, you've, Richard, Richard Smucker, Thomas Kirk Organizations: Smucker, Service, William &, Arizona State, Brightstar Capital Partners, New York Magazine Locations: Orville , Ohio, Alabama, Argentina, South America, Danish

☆ Read Ken Griffin's letter to Citadel investors. He gives his 2024 outlook and talks about building a 'formidable team.'
▼ + stars: | 2024-04-01 | by ( Hayley Cuccinello | Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Griffin noted that 2023 was a difficult year for the hedge fund industry and expected the medium-term to "remain challenging." Citadel and Griffin's market maker, Citadel Securities, received over 100,000 applications for full-time jobs and internships this year, Griffin said. "We take pride in having built one of the most formidable teams in hedge fund history," he said. The remarkable achievements of our portfolio managers are a testament to the constructive and empowering culture at Citadel. Assembling the Premier Team in Hedge Fund HistoryWe take pride in having built one of the most formidable teams in hedge fund history.

Persons: Griffin, Kenneth C Organizations: Business, Disney World, Citadel, Citadel Securities, Citadel Wellington LLC, Team, Congressional, U.S, LCH Investments Locations: United States

☆ DEI Programs Are Under Attack. Here Is How to Fix Them, Chief Diversity Officer.
▼ + stars: | 2024-02-27 | by ( Steve Pemberton | ) www.businessinsider.com time to read: +13 min

In 2007, I became Monster.com's first chief diversity officer, then Walgreens' in 2012. Most recently I served as chief human-resources officer at Workhuman. When done right, DEI programs not only give companies a competitive edge but also can be the very means of mending a broken America. Unsurprisingly, the role of chief diversity officer became more popular during this time as CEOs and boards recognized that they needed a dedicated team with resources to prevent similar class-action settlements and public-relations disasters. Prior to serving as chief people officer for Workhuman, he was chief diversity officer for Walgreens and Monster.com.

Persons: unschooled, Monster.com's, meritocracy, Kennedy, Johnson, Nixon, ERGs, Charles Walgreen, Jim Crow, Rep, Robert B, Elliott of, Steve Pemberton Organizations: Walgreens, Revelio Labs, America, Commission, Texaco, Denny's, Nextel, Harvard, The Lighthouse Academy Locations: America, Elliott of South Carolina

☆ Sarkozy’s Prison Sentence Halved to 6 Months
▼ + stars: | 2024-02-14 | by ( Roger Cohen | More About Roger Cohen | ) www.nytimes.com time to read: +1 min

A Paris appeals court upheld on Wednesday the 2021 conviction of former President Nicolas Sarkozy for illegal financing an election campaign but cut his sentence from one year to six months with a further six months suspended. Mr. Sarkozy’s lawyer, Vincent Desry, immediately said that Mr. Sarkozy would appeal to France’s highest court. Nicolas Sarkozy is fully innocent,” he said. “He has taken note of this decision and decided to appeal to the Court of Cassation.”The appeal could take years to be resolved, ensuring that Mr. Sarkozy remains free for the foreseeable future. The former president, known for his irrepressible energy and blunt style, hurried out of court and did not take questions.

Persons: Nicolas Sarkozy, Sarkozy’s, Vincent Desry, Mr, Sarkozy, “ Mr, ”, “ Organizations: Cassation Locations: Paris, France

Scores of people turned out Tuesday to testify well into the night on bills being considered by Nebraska lawmakers that target diversity initiatives and higher education programs, mirroring proposals by Republicans across the country. The bills before the state Legislature’s Education Committee included one that would ban diversity, equity and inclusion — known as DEI — programs and offices at state colleges and universities. Similar bills have been introduced in Republican-led legislatures across the country as the 2024 election year heats up. Already this year, Republican lawmakers have proposed about 50 bills in 20 states that would restrict DEI initiatives or require their public disclosure. Among them were several young people of color who grew up in the state or Nebraska college students who told lawmakers of the discrimination they've faced.

Persons: Sen, Dave Murman, cosigners, ”, ” Jess Lammers, Mia Perales, Ricki Barber, ” Barber, ” Sen, Loren Lippincott, —, ” Lippincott, Chris Kabourek, “, ” It's Organizations: Nebraska, Republican, Education, “, University of Nebraska, Lincoln, NAACP, Big Locations: Nebraska, Holdrege, Lincoln, Iowa, Florida, North Dakota, Texas

Some bills would bar financial institutions from discriminating against those who refuse to participate in DEI programs. Meanwhile, Democrats have filed about two dozen bills in 11 states that would require or promote DEI initiatives. The Supreme Court’s June decision ending affirmative action at universities has created a new legal landscape around diversity programs in the workplace and civil society. Rob Standridge, who has authored four bills aiming to hollow out DEI programs in the state, said it has become a salient campaign theme. In a 2023 report, White said Mississippi’s public universities are spending millions on DEI programs instead of student scholarships.

Persons: JACKSON, Republican Oklahoma Sen, Rob Standridge, Standridge, “, Trump, ” Mike Gonzalez, Josiah Magnuson, ” Magnuson, Kevin Stitt, it’s, Sen, Marko Liias, Liias, Ron DeSantis, ”, Shad, White, Becky Currie, Currie, Spencer Cox, Cox, Robin Vos, Jonathan Butcher, ” Butcher, Fentrice, ” Driskell, Trisha Ahmed, David Lieb, Hannah Schoenbaum, Todd Richmond, ___ Michael Goldberg Organizations: Republican, Associated, Democratic, Republican Oklahoma, Heritage Foundation, Rep, Republican Gov, Oklahoma State Regents, Higher Education, ”, Washington, Utah Gov, The Heritage Foundation, Democratic House, Associated Press, America Statehouse News Initiative, America Locations: Miss, Washington, South Carolina, Oklahoma, Florida, Texas, Mississippi, Wisconsin, Minneapolis, Jefferson City , Missouri, Salt Lake City, Madison , Wisconsin

☆ Utah Bans D.E.I. Programs, Joining Other States
▼ + stars: | 2024-02-01 | by ( Vimal Patel | ) www.nytimes.com time to read: +2 min

Eight have become law, including in North Dakota, Texas and North Carolina. A law in Texas, which went into effect in January, outlaws D.E.I. The University of Texas at Austin closed its Multicultural Engagement Center last month because of the law. The law in North Dakota, which took effect in August, prohibits mandatory diversity training at the state’s public colleges. bill represented a somewhat surprising shift, said Michael Lyons, a political science professor at Utah State University.

Persons: Spencer Cox, Governor Cox, Michael Lyons, Cox Organizations: Higher Education, University of Texas, Utah State University Locations: Utah, North Dakota , Texas, North Carolina, Texas, Austin, North Dakota, Tennessee

☆ Neuralink exec Shivon Zilis defends Elon Musk's $55 billion Tesla pay package
▼ + stars: | 2024-01-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Read previewNeuralink director Shivon Zilis is coming to Elon Musk's defense after his Tesla pay package was voided. A Delaware judge on Tuesday swatted down Musk's $55 billion Tesla pay package, siding with a shareholder who argued that Musk's pay as CEO was excessive. She stood by his Tesla compensation package in a social media post on Wednesday. "There are so many anti-meritocratic situations where people take money off the table while destroying shareholder value," Zilis wrote. "Never incorporate your company in the state of Delaware," Musk wrote .

Persons: —, Shivon Zilis, Elon, Kathaleen St, J, McCormick, Musk, Zilis, it's, Tesla Organizations: Service, Tesla's, Business, Bloomberg Locations: Delaware

☆ Men in medieval China were able to move up the social ladder as easily as male Baby Boomers in the US, study suggests
▼ + stars: | 2024-01-24 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Obtaining high status was likely as easy for men in the Tang Dynasty as for men in the modern US, a study suggests. It found that social mobility for men at the time could be compared to that of the 1960s in the US. AdvertisementMen in medieval China could gain high status in society as easily as male Baby Boomers in the US, according to a new study released on Thursday. Women, however, were unlikely to be part of the Chinese bureaucracy, and few would have taken the imperial exam, Hout said. But I wouldn't see a farmer's kid being able to pass the exam," Hout said.

Persons: —, Michael Hout, Hout, Du Zhong Liang, Wu Zetian, It's, they're Organizations: Service, Boomers, National Academy of Sciences, New York University, Business, National Library of China Locations: China, Tang, Europe

Thoughts and prayers for the players who only kept full PGA Tour cards without guaranteed access to the signature events. And now the signature events will have $20 million purses (same as LIV) with $4 million to the winner (same as LIV). “How many golf fans actually know what the PIP on the PGA Tour is?” he wrote on Instagram, posting the results for all to see. “There’s 150-200 members of the PGA Tour and they just spent $100 million on 20 players. Lashley wasn’t criticizing the PGA Tour on behalf of everyone, but he’s not a lone voice.

Persons: won’t, Jay Monahan, LIV Golf, LIV, Barbara Nicklaus, Nate Lashley, Rory McIlroy, Tiger Woods, pipping, Woods, McIlroy, Jon Rahm, Jordan Spieth, Scottie Scheffler, “, ”, Wyndham Clark, Clark, Lashley, Scheffler, Cameron Smith, Lashley wasn’t, he’s, Emiliano Grillo, ” Grillo, you’re, We’ve, Lanto Griffin, ” Griffin, Golfweek, I’ve, It’s, it's, ___ Organizations: Players, FedEx, Saudi, Sports Business, Lashley, PGA, PGA Tour, Wells, U.S ., Ryder, He's, Colonial, Torrey Pines Locations: Rome, Bahamas

☆ Reading List: Scams and Scammers
▼ + stars: | 2023-11-08 | by ( Amanda Taub | ) www.nytimes.com time to read: +2 min

In financial frauds, the core promise is always essentially the same: profit without risk. But the details of how that promise gets packaged are telling. Madoff and Holmes profited by promising wealth and validation to elites who feared that not having enough of one meant they couldn’t really have the other. Bankman-Fried, by contrast, seems to have invented himself as the fulfillment of a very different desire: success outside the bounds of powerful institutions. In retrospect it was a perfect pitch for cryptocurrency speculators who wanted to believe that they, too, could make a fortune without any traditional financial background or connections.

Persons: Bernie Madoff’s, Elizabeth Holmes, John Carreyrou, meritocracy, Madoff, Holmes, Zeke Faux Organizations: Apple Locations: Silicon, America, cryptocurrency

Political Cartoons View All 1234 ImagesHaley and Ramaswamy exemplify the diversity of views among Indian Americans. They both are out of sync with the broader community of Indian Americans, who overwhelmingly support Democrats. A recent survey by the Pew Research Center found that 68% of Indian American registered voters identified as Democrats and 29% identified as Republicans. But for most Indian Americans, issues stateside matter more, said Maina Chawla Singh, a scholar-in-residence at American University's School of International Service. He said Trump’s election in 2016 also motivated more progressive Indian Americans to get involved in local city council and school district races.

Persons: Nikki Haley, Vivek Ramaswamy, ” Haley, Ramaswamy, “, we’re, ”, Haley, Donald Trump, Milan Vaishnav, ” Vaishnav, Maina Chawla Singh, ” Sangay Mishra, Mishra, Barack Obama, America's, Kamala Harris, Rohan Pakianathan, Vivek, Pakianathan, ” Henry Olsen, Olsen, Holly Ramer Organizations: Republican Party, GOP, South Asia, Carnegie Endowment, International Peace, Trump, Ukraine, Pew Research Center, Indian American, Republican, American University's School of International Service, Indian, Drew University, Republicans, Rutgers University, Public Policy Center, Press, Lilly Endowment Inc, AP Locations: South Carolina, Russia, Ukraine, Indian, America, New Jersey, U.S, United States, India, Washington, Concord , New Hampshire

☆ Opinion | The World Series Didn’t Match the Very Best
▼ + stars: | 2023-11-03 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

The real world falls far short of a meritocracy, of course. In the wider world, I think, it would be good to squeeze more of the randomness out of who succeeds, getting closer to true meritocracy. The team owners want to expand the playoffs to 14 teams, but the players’ union has resisted. An inferior team can win a playoff series, or even more than one series, if the “game of inches” breaks its way. The Diamondbacks being a case in point, at least until they bombed out in the World Series, losing the best-of-seven competition after five games.

Persons: ” Robert Frank, Fortune, ”, ” Rob Manfred Organizations: Cornell University, Major League Baseball, National League, Diamondbacks, MLB Network Radio

☆ Opinion | Why We Should Fear China More Than Middle Eastern War
▼ + stars: | 2023-10-21 | by ( Ross Douthat | ) www.nytimes.com time to read: +5 min

And since we don’t actually want to be at war with China, it makes a certain sense to avoid lumping Beijing in with Moscow and Tehran. It makes sense to talk about China, Iran and Russia as a loose alliance trying to undermine American power, but it is not a trio of equals. But the threat China poses to Taiwan, in particular, has different implications for American power from the threat Russia poses to Ukraine or Hamas poses to Israel. Whatever misery Iran and its proxies may inflict upon the Middle East, they are not going to conquer Israel or drive American power out of the Levant. But we have no experience being defeated in straightforward combat, not guerrilla war, by a great-power rival and ideological competitor.

Persons: Joe Biden, don’t, ”, “, Biden, Putin, pseudodemocracy, Xi, Vladimir Putin Organizations: NATO Locations: Israel, Ukraine, America, United States, China, Russia, Iran, Beijing, Moscow, Tehran, Taiwan, East Asia, Crimea, —, Vietnam, Afghanistan

☆ College jocks earn as much as $220,000 more than their less sporty peers over their career, study shows
▼ + stars: | 2023-10-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

College jocks actually become more successful and wealthy than their nerdy peers, a new study finds. Turns out, sporty students earn 3.4% more in their lifetimes and bring home $220,000 more in wages. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The study found that college athletes earned 3.4% more over their careers than non-athletic students and are likely to bring home $220,000 more in cumulative wages, the report said. College athletes were even more likely to be endorsed for management, leadership, and strategic planning skills on LinkedIn, per the study.

Persons: —, NBER, –, They're, Walter Robb, Brian Moynihan, Meg Whitman, Andy Jassy, Jassy, There's, there's Organizations: National Bureau of Economic Research, Ivy League, Service, College, LinkedIn, Stanford University's, Bank of America, Brown University, Hewlett, Packard, Princeton University

☆ 'Loyalty alone is not enough': Kremlin reveals the qualities Russia's Vladimir Putin values the most
▼ + stars: | 2023-10-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin chairs a Security Council meeting via a video link in Saint Petersburg on October 10, 2022. "But for Vladimir Putin, loyalty alone is not enough. Russia's president Vladimir Putin (R) and his spokesman Dmitry Peskov (L) attend the Supreme Eurasian Economic Council meeting at the Congress Hall in Bishkek on December 9, 2022. Contributor | Getty ImagesDuring Russia's "special military operation" in Ukraine, as it calls its invasion, questions have been raised about the strategy and competency of Russia's military leadership. FILE - Businessman Yevgeny Prigozhin, left, shows Russian President Vladimir Putin, around his factory which produces school meals, outside St. Petersburg, Russia on Monday, Sept. 20, 2010.

Persons: Vladimir Putin, Gavriil Grigorov, Putin, Andrei Kondrashov, it's, Dmitry Peskov, Vyacheslav Oseledko, —, Sergey Lavrov, Sergei Shoigu, Sergei Lavrov, Nikolay Patrushev, Mikhail Mishustin, Sergei Sobyanin, There's, Vladimir Solovyov, Nikolai Patrushev, Dmitry Medvedev, Medvedev, Sergei Medvedev, Dmitry, Yevgeny Prigozhin's, Alexander Ermochenko, Sergey Shoigu, Shoigu, Prigozhin, Wagner, Kirill Shamiev, Prigozhin Prigozhin, Yevgeny Prigozhin, Alexei Druzhinin Organizations: Afp, Getty, CNBC, Economic, Kremlin, Security, Moscow, SVR, Russian Security Council, Ukraine, West ., Kyiv, Russian, Luhansk People's, Reuters, Wagner Group, European Council, Foreign Relations Locations: Saint Petersburg, Bishkek, Russian, Yerevan, Armenia, Russia, Ukraine, Kyiv, Luhansk, Luhansk People's Republic, Crimea, Moscow, Belarus, Prigozhin, St . Petersburg

☆ The Racial Achievement Gap and the War on Meritocracy
▼ + stars: | 2023-09-06 | by ( Jason L. Riley | ) www.wsj.com time to read: +1 min

He is also a senior fellow at the Manhattan Institute and provides television commentary for various news outlets. Mr. Riley joined the paper in 1994 as a copy reader on the national news desk in New York. He moved to the editorial page in 1995, was named a senior editorial page writer in 2000, and became a member of the Editorial Board in 2005. He joined the Manhattan Institute in 2015. Born in Buffalo, New York, Mr. Riley earned a bachelor's degree in English from the State University of New York at Buffalo.

Persons: Jason Riley, Riley, ”, “, Thomas Sowell ” Organizations: Wall Street, Mobility, Manhattan Institute, Borders, Blacks, Editorial, State University of New, USA, Buffalo News Locations: New York, Buffalo , New York, State University of New York, Buffalo

☆ Opinion | A Progressive James Bond Is Proof of American Cultural Imperialism
▼ + stars: | 2023-09-06 | by ( Ross Douthat | ) www.nytimes.com time to read: +3 min

(The cruelty and neglect at these schools was real but the specific claims about graves at the B.C. school have outrun the so-far scanty evidence.) The first is a general tendency of provincial leaders to go overboard in establishing their solidarity and identification with the elites of the imperial core. The second point is the role of secularization and de-Christianization, which are further advanced in the British Isles and Canada than in the United States. Then the third point is that smaller countries with smaller elites can find it easier to enforce ideological conformity than countries that are more sprawling and diverse.

Persons: Ed West, it’s, tastemakers, Aris Roussinos, ” Organizations: Canadian, “, British Isles, Christianity’s, Republican, Laurentian Locations: Canada, British Columbia, British, Ottawa, London, Rome, Europe, United States, Britain, America, Westminster

☆ Vivek Ramaswamy says racism is often 'manufactured,' calls on nation to 'restore colorblind equality'
▼ + stars: | 2023-08-27 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Vivek Ramaswamy has recently made a series of controversial comments about race. He said white supremacy is rare, racism is "manufactured," and compared Ayanna Pressley to the KKK. AdvertisementAdvertisementNBC host Chuck Todd asked about the Jacksonville shooting and how Ramaswamy would address racially motivated violence as president. At a campaign stop in Iowa on Friday, Ramaswamy suggested white supremacy is as realistic as unicorns. Maybe I will meet a — maybe I will meet a unicorn sooner.

Persons: Vivek Ramaswamy, Ayanna Pressley, Ramaswamy, Ramaswamy's, Martin Luther King Jr, Chuck Todd, colorblind Organizations: Service, GOP, Klux Klan, NBC, Jacksonville, FBI, Department of Homeland Security, CNN Locations: Florida, Wall, Silicon, America, United States, Jacksonville , Florida, Washington, Iowa

☆ Malaysia eyes more investments to enlarge EV footprint after landmark Tesla deal
▼ + stars: | 2023-08-23 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Tesla's groundbreaking move with Malaysia is a boost to Southeast Asia's place in the EV supply chain and the first deal under the country's Battery Electric Vehicle Global Leaders initiative. There are also plans for Tesla to embark on EV battery manufacturing in Malaysia. Anwar said Malaysia is open to more EV investments, including from Chinese automakers. Tesla Inc. signage during a launch of company's Model Y electric vehicle in Kuala Lumpur, Malaysia, on Thursday, July 20, 2023. Building readinessStill, Anwar was hesitant to say a full electric vehicle assembly line is in the pipeline.

Persons: Tesla, Anwar Ibrahim, CNBC's Martin Soong, Anwar, Elon Organizations: country's, Vehicle Global, U.S, EV, Bumiputeras, CNBC, Tesla Inc, Bloomberg, Getty, IT, Zhejiang, Infineon Technologies, Proton Locations: Malaysia, Southeast Asia, Putrajaya, Kuala Lumpur, China, Shanghai, Selangor, Malay, Tanjong Malim, Perak, Kedah, Geely

☆ Malaysia PM vows to recover Goldman Sachs 1MDB settlement, warns of possible lawsuits
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.

Persons: Malaysia's, Anwar Ibrahim, Malaysia's King, hasn't, Goldman Sachs, Anwar, CNBC's Martin Soong, Goldman, Muhyiddin Yassin, I've, —, Mahathir Mohamad, Anwar Malaysia's, Anwar's Pakatan, Najib Razak, Muhyiddin, Islam that's Organizations: Nurphoto, Getty, Malaysia's, 1Malaysia, Malaysia, CNBC, of, Malaysian, Barisan Nasional, Barisan, Perikatan Nasional coalition, Islamic, Malay Locations: Kuala Lumpur, Putrajaya, Malaysia, Malaysian, Anwar Ibrahim Malaysia, U.S, of Malaysia, United States, Malay, Federal

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