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Others are calling for larger foundations to help grantees if they are sued or are offering legal assistance themselves. The Council on Foundations, which supports philanthropic foundations and provides legal resources to its members to help them consider potential legal risks, submitted an amicus brief in the case supporting the Fearless Fund's First Amendment argument. “If you’re committed to DEI or race-conscious or race-based giving, you should not back down on your priorities. We’re funding homelessness or employment or the wealth gap,” she said as examples of changes in wording funders have made. The Black Freedom Fund, which was founded in 2021 to fund Black community organizations in California, has started a legal defense fund for its grantees for precisely that reason.

Persons: aren't, Fearless, Edward Blum, Blum, —, Searle, Sarah Scaife, Kathleen Enright, you’re, ”, John Palfrey, John D, Catherine T, Claudine Gay, Christopher Rufo, Bill Ackman, Gay, MacArthur, “, Mae Hong, Carmen Rojas, Marguerite Casey, Rojas, can’t, ” Rojas, Marc Philpart, ” Philpart, Hong, they’re, ” Hong Organizations: —, American Alliance for Equal Rights, Fair, Searle Freedom Trust, Sarah Scaife Foundation, Fidelity Investments, Donors Trust, National Philanthropic Trust, Foundations, MacArthur Foundation, Harvard University, Manhattan Institute, Harvard, Rockefeller Philanthropy Advisors, Blacks, Marguerite Casey Foundation, Freedom Fund, “, Lilly Endowment Inc, AP Locations: Black, California

Along with ramping up its domestic arms production, Moscow is turning to an old ally with a vast arsenal — North Korea. That would be a remarkable reversal from the 1950-53 Korean War, when the Soviet Union provided the communist North with weapons and ammunition. Shoigu became the first Russian defense chief to visit North Korea since the 1991 collapse of the Soviet Union. “Russia is hoping that North Korea could swiftly establish support channels to provide it with war materials like ammunition, bombs and other supplies,” Hong said. U.S. officials have cast Moscow’s reach for North Korean weapons as a reflection of Russian military problems.

Persons: Kim Jong, Vladimir Putin, Sergei Shoigu, Putin, Kim Jong Un, ”, Alexander Gabuev, Shoigu, Kim, Dmitry Peskov, ” Kim, Hong Min, Hong, Wagner, Jake Sullivan, ” Sullivan, embolden Kim, Dmitry Medvedev, “, Emma Burrows, Kim Tong Organizations: United, North, Soviet Union, Russian Defense, Carnegie Russia Eurasia Center, Kremlin, Moscow, Korean People’s Army, Seoul’s Korea Institute for National Unification, House, Washington, Strategic, International Studies, Ukrainian, Russian, Royal United Services Institute, Russia’s Security, Associated Press Locations: Ukraine, Russia, Moscow, North Korea, United States, Soviet, Soviet Union, Pyongyang, Korea, Russian, Hong, U.S, United Nations, ” Washington, Iran, Ukrainian, Tallinn, Estonia, Seoul

CNN —Pope Francis urged Chinese Catholics to be “good citizens” and “good Christians,” a rare instance of the Holy Father publicly addressing the issue of religion in China. Mongolia is sandwiched between Russia, whose invasion of Ukraine Francis has publicly criticized, and China, an atheist state where religious practice is heavily curtailed by the government. And to the Chinese Catholics, I ask you to be good Christians and good citizens.”Pope Francis leads Mass at the Steppe Arena in Ulaanbaatar on Sunday. Pedro Pardo/AFP/Getty ImagesChina may be officially an atheist state, but religious practice is legal in the country – albeit under tight government supervision and surveillance. Francis landed in Mongolia Friday for a trip that has lacked the usual fanfare of a Papal visit.

Persons: Pope Francis, Francis ’, Pope, Ukraine Francis, Stephen Chow, Cardinal John Tong, ”, Francis, Hong, “, ” Pope Francis, Mass, Pedro Pardo, Pontiff Organizations: CNN, Hong Kong’s, Getty, Vatican News, Mongolian, Sunday Locations: China, Mongolian, Ulaanbaatar, Mongolia, Russia, Ukraine, Hong Kong, Vatican, Beijing, AFP, Russian

☆ Why Hong Kong can’t cut loose from the US dollar just yet
▼ + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar. The Hong Kong Monetary Authority (HKMA) is committed to keeping the Hong Kong dollar between 7.75 and 7.85 per greenback. People walk past the Hong Kong Monetary Authority (HKMA) on May 4, 2023, in Hong Kong, China. “Pegging the Hong Kong dollar to the US dollar encourages such transactions to be carried out in Hong Kong and under Hong Kong law, even if neither party is based in Hong Kong.”This helps to create jobs and prosperity in Hong Kong, while also benefiting mainland China.

Persons: Hong, hasn’t, Andy Xie, ” Logan Wright, Bill Ackman’s, Ackman, Wright, Peter Parks, Kong, Deng Xiaoping, Margaret Thatcher, outflows, Chi Lo, Chen Yongnuo, Hong Kong’s, ”, Richard Cookson ,, Boaz Weinstein, Daniel Fung, Rhodium’s Wright, Xie, Eddie Yue, Banks, John Greenwood, “, Greenwood, ” Greenwood Organizations: Hong Kong CNN, British, Hong, Traders, Hong Kong, Bill Ackman’s Pershing, Capital Management, Getty, Lehman Brothers, Hong Kong Monetary Authority, US Federal Reserve, Asia Pacific, BNP, Asset Management, Fed, China News Service, Rubicon Fund Management, Bloomberg, Saba Capital Management, National Security Law, CNN Locations: Hong Kong, United States, China, Hong, Beijing, AFP, Britain, “, ”, Riding

☆ Alibaba’s restructuring and Jack Ma’s homecoming are all part of China’s plan
▼ + stars: | 2023-03-29 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Ma is seen as a symbol of China’s tech industry and a barometer of the Chinese government’s support for private business. Alibaba’s restructuring is “part of [Beijing’s] strategy to shore up confidence in the private sector,” said Hong Hao, chief economist for Grow Investment Group. “[Alibaba’s restructuring plan] offers a way to limit monopoly power and platform sway,” Hong said. Unlocking valueInvestors and analysts have cheered Alibaba’s restructuring. Alibaba’s business will be split into six units: domestic e-commerce, international e-commerce, cloud computing, local services, logistics, and media and entertainment.

☆ Hong Kong Covid: Airlines race to add flights to the city, reviving hopes for its recovery as an aviation hub
▼ + stars: | 2022-09-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN Business —International airlines are scrambling to add more flights to Hong Kong as the city ends two and a half years of quarantine measures, leading to a surge in demand for travel. “As Hong Kong’s home airline, we are fully committed to rebuilding the connectivity of the Hong Kong aviation hub,” it said in a statement. This will absolutely increase the demand for travel to and from Hong Kong,” Christoph Meyer, Lufthansa’s general manager of sales for Hong Kong, Macao and South China, said in a statement. International Air Transport Association Director General Willie Walsh said last week that China’s zero-Covid policy had “devastated” Hong Kong. Friday’s news puts Hong Kong back on “the right track,” said Dr. Kam Hung Ng, assistant professor of aviation engineering at the Hong Kong Polytechnic University.

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