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☆ Moscow banned 2 major Swiss banks from selling shares in its subsidiaries after a Russian bank said it would lose money from their exit
▼ + stars: | 2023-08-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A Moscow court has banned UBS and Credit Suisse from disposing of shares in their Russian subsidiaries. Russia witnessed an exodus of Western companies after it invaded Ukraine. A Moscow court has banned two major Swiss banks — UBS and Credit Suisse — from trying to wriggle their way out of their Russian subsidiaries, Reuters reported on Tuesday, citing court documents. Moscow-based Zenit Bank requested the ban, citing concerns about losing money should the two Swiss banks exit, per the news agency. Zenit also requested the court to seize funds belonging to UBS and Credit Suisse, but the application was not granted, per Reuters.

Persons: UBS —, Vladimir Putin, Jeffrey Sonnenfeld Organizations: UBS, Credit Suisse, Zenit Bank ., Service, Credit Suisse —, Reuters, Zenit Bank, Zenit, Carlsberg, Danone, Yale School of Management Locations: Moscow, Zenit Bank . Russia, Ukraine, Wall, Silicon, Russia, Intergrain, Luxembourg, Russian

A lawsuit claims Rudy Giuliani was paid $300,000 while pitching investors on an anti-Biden film. Giuliani allegedly said it would be a "kill shot" that would sink Joe Biden's campaign. By then, Giuliani was hard at work trying to dig up election-year dirt on Joe Biden in his capacity as President Trump's personal attorney. Giuliani, the lawsuit alleges, asked for the farmers' help finance efforts to make sure Trump was elected to a second term. The aborted Giuliani film project also forms part of a whistleblower disclosure from Johnathan Buma, an FBI special agent whose allegations were first reported by Insider.

Persons: Rudy Giuliani, Biden, Giuliani, Joe Biden's, Joe Biden, Hunter, Baldev, Kewel Munger, Tim Yale, Trump, George Dickson III, Hunter Biden, Dickson, Michael Moore's, Noelle Dunphy, John Doe, Mother Jones, Munger, Johnathan Buma, Bob Hawk Organizations: Service, Republican, Yale, Republicans, FBI, Munger Bros Locations: Wall, Silicon, Ukraine, California, New York City, Munger, Georgia, Washington

☆ A biotech hedge fund that counts Yale’s endowment among its clients bought a new stake in this genetic testing company
▼ + stars: | 2023-08-16 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Founded by brothers Julian and Felix Baker in 2000, the health care hedge fund focuses on biotech and life sciences investing. The biotech stock with a focus on neuroscience has surged more than 84% this year. Baker Bros. doubled down on its bet in Kymera Therapeutics , which it raised by more than 51%. The hedge fund also took new stakes in ImmunoGen , which has more than tripled this year, soaring 216%, and Day One Biopharmaceuticals , which is down by 34%. The hedge fund lowered its exposure to the biotech company, which develops treatments for cancer, by 5%.

Persons: Baker, Tisch, Julian, Felix Baker, Seagen, Yun Li Organizations: Baker Bros, Advisors, Yale, Acadia Pharmaceuticals, Kymera Therapeutics Locations: InVitae, Invitae, Acadia, ImmunoGen

☆ Addiction Treatment Eludes More Than Half of Americans in Need
▼ + stars: | 2023-08-15 | by ( Noah Weiland | More About Noah Weiland | ) www.nytimes.com time to read: +4 min

Why It Matters: Opioid addiction affects every part of American society. Rural and white Americans were the likeliest to report personal or family opioid addiction, but significant percentages of Black, Hispanic, urban and suburban families did, as well. Overdose fatality rates among Black Americans have climbed substantially in recent years, the Centers for Disease Control and Prevention found in a study last year. A third of Americans fear that someone in their family will die of an opioid overdose, researchers discovered. Methadone, another opioid addiction medication that alleviates cravings, is heavily regulated and often difficult for drug users to access and use continuously, prompting repeated calls from addiction physicians and public health experts for easing restrictions.

Persons: KFF, “, —, ”, naloxone, David Fiellin, Biden Organizations: Centers for Disease Control, Yale School of Medicine, AIDS Locations: ”, Georgia, South Carolina

☆ Many young unmarried couples don’t split costs equally. Experts weigh in on what's 'fair'
▼ + stars: | 2023-08-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Millennial couples are more likely to live together, with 65%, versus 37% of Gen Z couples. More than half of couples, 54%, said finances were part of their decision to move in together. Half of couples don't split the mortgage or rent equally, and 39% do not split pet costs equally, the survey found. Experts say the survey results underscore that when it comes to sharing expenses, equal isn't always equitable, or fair. "I think it's almost not fair to split finances 50-50 without taking into account your partner's financial situation," said Daigle, who is also a member of the CNBC Financial Advisor Council.

Persons: Gen Z, Michael Kraus, Cathy Curtis, Curtis, Sophia Bera Daigle, Daigle, Carli Blau, Blau, Kraus, Couples Organizations: Istock, Getty, of Psychology, Finance, Yale University, Curtis Financial, CNBC, Society Locations: U.S, Oakland , California, Austin , Texas, New York

[1/2] William McGlashan Jr., a former Executive at TPG private equity firm facing charges in a nationwide college admissions cheating scheme, leaves the federal courthouse in Boston, Massachusetts, U.S., March 29, 2019. REUTERS/Brian SnyderCompanies TPG Capital Management LP FollowBOSTON, Aug 14 (Reuters) - A U.S. appeals court on Monday upheld the conviction of a former senior executive at the private equity firm TPG Capital for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son's college entrance exam results. Carter Phillips, McGlashan's lawyer, said his "deeply disappointed" client was evaluating next steps, adding it was clear that ACT test scores were not "property," a necessary element of the fraud statute. More than 50 people pleaded guilty, including the actors Lori Loughlin and Felicity Huffman, who were among Singer's clients. Reporting by Jonathan Stempel in New York and Nate Raymond in Boston Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: William McGlashan Jr, Brian Snyder, William McGlashan's, McGlashan, Jeffrey Howard, William, Rick, Singer, Carter Phillips, McGlashan's, Lori Loughlin, Felicity Huffman, John Wilson, Gamal Aziz, Wilson, Jonathan Stempel, Nate Raymond, Matthew Lewis Organizations: TPG, REUTERS, Brian Snyder Companies TPG Capital Management, BOSTON, TPG Capital, U.S, Circuit, ACT, Yale, University of Southern, University of Southern California . Singer, Varsity, Thomson Locations: Boston , Massachusetts, U.S, Boston, Georgetown, University of Southern California, California, New York

☆ University of Chicago agrees to pay $13.5 million to students after being accused of participating in a 'price-fixing cartel' with other prestigious schools to limit financial aid
▼ + stars: | 2023-08-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

University of Chicago agreed to a $13.5 million settlement over claims it conspired with top colleges over financial aid. Five former students accused 16 top schools in 2022 of working together to limit financial aid packages. In January 2022, five former undergraduate students who attended Duke, Northwestern, and Vanderbilt filed a lawsuit against 16 schools including UChicago, Brown, Yale, and Northwestern. The suit targeted a group called the 568 Presidents Group, which allowed schools to work together to determine common standards for disbursing financial aid. The plaintiffs said the schools favored wealthy applicants and "conspired" to reduce financial aid packages, and that they "overcharged over 170,000 financial-aid recipients by at least hundreds of millions of dollars."

Persons: Brown, UChicago, Johns Hopkins Organizations: Chicago, Service, University of Chicago, Duke, Vanderbilt, Yale, Group, Higher, Court, Northern, Northern District of Illinois, Cornell, MIT, Northwestern, Notre Dame, Dartmouth, Caltech Locations: Wall, Silicon, Northwestern, UChicago, Northern District, Columbia, Georgetown, Notre, Penn, Rice, Emory

☆ Make these 9 top investments in a 'stock-picker's market' as economic growth continues, according to a bear-turned-bull whose hedge fund is up 155% in the last 5 years
▼ + stars: | 2023-08-12 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Standout hedge fund manager Charles Lemonides came into the year careful but is now more optimistic. Heading into 2023, hedge fund manager Charles Lemonides was preparing for the worst. His hedge fund is down 8% in 2023 through May, though it's still up 155% in the past five years. The hedge fund manager said the economy can take another rate hike or two, even though investors may groan about it. The hedge fund manager is currently bullish on energy stocks broadly — particularly those in the oil and gas industry.

Persons: Charles Lemonides, Lemonides, hasn't, it's, We've, he's, Goldman Sachs Organizations: Investors, Federal Reserve, Netflix, Energy, P Oil & Gas Exploration, Production, Unit Corp, United Natural Foods, Yale Materials, Foods Locations: financials

☆ These environmental laws are making it harder to fight climate change
▼ + stars: | 2023-08-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

New Jersey has sued to block New York City's congestion price law using environmental review. The environmental review process has “metastasized well beyond what anyone intended it to be,” Dourado said. “To me, it’s clearly dysfunctional.”Reform effortsThe need to reform the environmental review process has become a bipartisan issue in recent years. Some environmental groups believe these reforms are needed to advance clean energy progress and other goals. While the Environmental Defense Fund supports the Biden administration’s reforms to NEPA, it’s against a draconian rollback of environmental review, he said.

Persons: Michael Nagle, ”, Howard Slatkin, Richard Nixon, Paul Sabin, ” Sabin, Eli Dourado, “, ” Dourado, Elgie Holstein, Bill Clinton, Barack Obama, Donald Trump’s, Joe Biden’s, ” Holstein Organizations: New, New York CNN, Environmental, Bloomberg, Getty Images, Federal, Administration, NEPA, Congress, Democrats, Citizens Housing, Planning, Reform, University of California, Magna Carta, Act, Yale University, “ Public, Big Government, Richard Nixon Presidential Library & Museum, Center for Growth, Utah State University, “, Environmental Defense Fund, Biden Locations: New York, Manhattan, New Jersey, York, Jersey, London, Stockholm, United States, New York City, Berkeley, Minneapolis

Just as important will be persuading people like Mr. Marohn that electric cars, renewable energy and electric heaters and stoves are practical, economical and exciting. Many, conservatives in particular, chafe at the prospect of the government forcing them to buy electric cars or ditch their natural gas appliances, polls show. By The New York TimesA clean energy future will require painstaking and individually tailored persuasion campaigns. “Even if some of them deny the science of climate change, they can’t deny good-paying jobs,” he said. “I just want to change the perception that electric cars are not as good as big, noisy muscle cars,” Mr. Lawson said.

Persons: Mikey Marohn, “, ”, Marohn, Alicia Cox, Cox, , chafe, Jesus, Ms, ” “, Jae Landreth, “ That’s, “ Nobody’s, Mr, Landreth, Phil Collins, Rob Leach, Leach, ‘, “ I’ve, Jack Conness, Biden, Jennifer Granholm, Granholm, Vladimir V, Putin, Sue Burns, Burns, Marjorie Taylor Greene, William Turner, didn’t “, Jason Walsh, Walsh, Tia Williams, Ms . Granholm, ” Ms, Williams, Joe Wilson, ” “ Didn’t, Roy Cooper of, Cooper, Patrick Lawson, Ford, Lawson, Lawson’s, Susan Lawson, Cheryl, Tesla, They’re, Kent Wheeler, “ It’s, ’, Josh Hermes, Paul Rosenzweig, Rosenzweig, Mary T, Barra, ” Kenneth Boswell, Quinton Lucas, Lucas, ” Mr Organizations: Clean, Biden, General Motors, nonbelievers, Republican, Pew, The New York Times, Pew Research Center, Toyota, Clean Energy Manufacturing, Energy Innovation, Trump, Trump Biden, Savings, Yale, Pontiac, BlueGreen Alliance, Democratic, Georgia Institute of Technology, Mr, Republicans, Flex, Gov, Northern Arapaho Tribe, Tesla, Rocky Mountain Rebels, Elks, Wild West EV, Polaris, Northern Arapaho, Chevy Silverado, Mercedes, Benz, Alabama Department of Economic and Community Affairs, Kansas City, Fire Department Locations: Teton, Wyoming, Yellowstone, Baldwin City, Kan, Kansas City, G.O.P, Counties, Russia, Memphis, South Carolina, Georgia, Tennessee, Murfreesboro, Tenn, Dalton, Ga, Roy Cooper of North Carolina, Riverton, Jackson, Minnesota, Louisiana, Alabama, Missouri, Quinton Lucas , Kansas, Kansas

☆ Brice Marden, painter revered for his distinctive approach to abstraction, dies at 84
▼ + stars: | 2023-08-11 | by ( Wallace Ludel | ) edition.cnn.com time to read: +6 min

CNN —Brice Marden, the abstract painter known most widely for his long, winding calligraphic mark-making that stood out against monochromatic backgrounds, has died aged 84. His death was confirmed to CNN by Gagosian, the New York gallery that represented him, via email on Thursday. "Uphill with Center" (2012-15) by Brice Marden. It’s just been an extra thing to think about.”Marden was born October 15, 1938 in Westchester County, just north of New York City. "Cold Mountain 6 (Bridge)" (1989-91) by Brice Marden.

Persons: CNN — Brice Marden, Larry Gagosian, “ Brice Marden, Marden’s, Helen —, —, Brice Marden, Marden, “, ”, ” Marden, Alex Katz, Jon Schueler, Richard Serra, Chuck Close, Celmins, Nancy Graves, Pauline Baez, Joan Baez, Jasper Johns, Johns ’, Édouard Manet, Francisco Goya, Francisco de Zurbarán, Johns, Bob Dylan, Pete Seeger, Nicholas, Helen Marden, Dorothea Rockburne, Robert Rauschenberg, Matthew Marks, Rosetta Stone Organizations: The Art, CNN, Gagosian, New York Times, Memorial Sloan Kettering, Boston University, Yale, Fine Arts, Rauschenberg Foundation, Jewish Museum, New Locations: New York, Tivoli , New York, Gagosian, Westchester County, New York City, American, Kansas City, Midtown Manhattan, Greece, Maryland

☆ Live updates: Maui wildfires death toll rises, Lahaina 80% destroyed
▼ + stars: | 2023-08-11 | by ( Aditi Sangal | ) edition.cnn.com time to read: +3 min

Tiffany Kidder Winn via APThe wind-whipped fires in Maui spread swiftly and created a deadly tinderbox, overwhelming residents and local officials in one of the nation’s deadliest wildfires. Fueled by a combination of strong winds and dry conditions – and complicated by the island’s geography – the fires have killed at least 36 people. Severe level drought conditions in Maui County ticked up to 16% from 5% last week, while statewide moderate drought levels jumped to 14% from 6%. Dried-out land and vegetation can fuel wildfires, which can swiftly turn deadly if strong winds help fan the flames toward communities. These winds coupled with low humidity levels produced "dangerous fire weather conditions” through Wednesday afternoon, the weather service said.

Persons: Tiffany Kidder Winn, ” Jennifer Marlon, Dora wasn't, Clay Trauernicht, –, ” Trauernicht, Trauernicht Organizations: Yale School of, CNN, US Drought, National Weather Service, University of Hawaii, of Forestry, Wildlife Locations: Lahaina , Hawaii, Hawaii, Lahaina, Maui, County, Manoa . Hawaii, West Maui

☆ A Timeline of Hunter Biden’s Life and Legal Troubles
▼ + stars: | 2023-08-11 | by ( Michael Levenson | More About Michael Levenson | ) www.nytimes.com time to read: 1 min

With the news that the Justice Department has named a special counsel to investigate a wide range of conduct by President Biden’s son Hunter Biden, his life is bound to come under even more intense scrutiny. A father of four with a law degree from Yale, Mr. Biden, 53, has acknowledged a decades-long addiction to alcohol and crack cocaine, and his foreign business dealings have led to questions about President Biden’s influence. Here’s a look at key dates in the life of the president’s son. Feb. 4, 1970Hunter Biden is born, the second child of Joseph R. Biden Jr. and his first wife, Neilia Hunter Biden. Hunter’s older brother, Beau, was born in 1969, and his sister, Naomi, was born in 1971.

Persons: Biden’s son Hunter Biden, Biden, Biden’s, Hunter Biden, Joseph R, Neilia Hunter Biden, Beau, Naomi Organizations: Justice Department, Yale

☆ These factors are making it hard to combat the deadly Maui wildfires
▼ + stars: | 2023-08-10 | by ( Ray Sanchez | ) edition.cnn.com time to read: +7 min

CNN —The wildfires in Maui spread swiftly and turned deadly, stunning local officials who were quickly overwhelmed. Fueled by a combination of strong winds and dry conditions – and complicated by the island’s geography – the fires have killed at least 36 people. Moderate drought covers more than one-third of Maui, with some areas experiencing severe drought, according to the US Drought Monitor. Dried-out land and vegetation can provide fuel for wildfires, which then can swiftly turn deadly if strong winds help fan the flames toward communities. “These strong winds coupled with low humidity levels are producing dangerous fire weather conditions” through Wednesday afternoon, the weather service said.

Persons: ” Jennifer Marlon, ”, Clay Trauernicht, ” Marlon, Derek Van Dam, Abby Frazier, ” Frazier, Hurricane Dora, Niño, Frazier, Trauernicht, ” Trauernicht, –, we’ve Organizations: CNN, Yale School of, University of Hawaii, US Drought Monitor, Fourth, National Weather Service, Clark University in, El Nino, Pacific Fire Exchange, of Forestry, Wildlife Locations: Maui, Hawaii, Manoa, Santa Ana, Southern California, Oahu, Clark University in Massachusetts, “, Hurricane, Pacific, ” Hawaii, West Maui

☆ Brice Marden, Who Rejuvenated Painting in the 1960s, Dies at 84
▼ + stars: | 2023-08-10 | by ( William Grimes | ) www.nytimes.com time to read: +2 min

While in Boston, he became immersed in the city’s folk music scene and married Pauline Baez, the older sister of the singer Joan Baez. In addition to Helen Marden, his second wife, he is survived by a son from his first marriage, Nicholas; two daughters from his second marriage, Mirabelle and Melia Marden; a younger sister, Mary Carroll Marden; and two grandchildren. After receiving a master’s degree in fine arts in 1963, Mr. Marden moved to New York. His first monochromatic panels were exhibited in 1964 at Swarthmore College and, soon after that, at the Bykert Gallery. And this was my way of thinking, well, there are things that haven’t been done,” he told Mr. Cooper of the National Gallery.

Persons: Pauline Baez, Joan Baez, Helen Marden, Nicholas, Mirabelle, Melia Marden, Mary Carroll Marden, Michael, Marden, Nancy Graves, Chuck Close, Richard Serra, Frank Stella, “, ”, Harry Cooper, Robert Indiana, Jasper Johns, Robert Rauschenberg, Cooper Organizations: Yale, Yale University School of Art, National Gallery of Art, Mr, Chiron Press, Jewish Museum, Swarthmore College, “ Locations: Boston, Norfolk, Conn, Washington, New York

☆ An Ivy League law degree can earn you over $200,000 a year—grads from this school make the most
▼ + stars: | 2023-08-10 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Ivy League law schools like Harvard and Yale have produced presidents, Supreme Court justices, senators and more. But even if you're not looking to go the political route, earning a graduate-level law degree from an Ivy can pay off big time. Those schools are Columbia University, Cornell University, Harvard University, the University of Pennsylvania and Yale University. Brown University, Dartmouth College and Princeton University do not have law schools. Here's how much graduates from each Ivy League law school earn.

Organizations: Ivy League, Harvard, Yale, Ivy, Higher Education, Columbia University, Cornell University, Harvard University, University of Pennsylvania, Yale University . Brown University, Dartmouth College, Princeton University

☆ The 2024 Election Will Break New Ground
▼ + stars: | 2023-08-09 | by ( William A. Galston | ) www.wsj.com time to read: +1 min

William A. Galston writes the weekly Politics & Ideas column in the Wall Street Journal. He holds the Ezra K. Zilkha Chair in the Brookings Institution’s Governance Studies Program, where he serves as a senior fellow. A participant in six presidential campaigns, he served from 1993 to 1995 as Deputy Assistant to President Clinton for Domestic Policy. Mr. Galston is the author of 10 books and more than 100 articles in the fields of political theory, public policy, and American politics. A winner of the American Political Science Association’s Hubert H. Humphrey Award, he was elected a Fellow of the American Academy of Arts and Sciences in 2004.

Persons: William A, Galston, Ezra K, Saul Stern, Dean, Clinton, Association’s Hubert H, Humphrey Organizations: Street, Zilkha, Brookings Institution’s, Brookings, School of Public Policy, University of Maryland, Institute for Philosophy, Center for Information, Research, Civic, National Commission, Domestic, Liberal Pluralism, Public, Rowman & Littlefield, Liberal Democracy, Yale, American, American Academy of Arts and Sciences Locations: Brookings

☆ Yale and Oxford-trained neuroscientist: These 3 questions can help you get better at embracing change
▼ + stars: | 2023-08-09 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

"Change is scary," Shankar said in a recent TED Talk. And when we experience a change that we wouldn't have chosen for ourselves, it's easy to feel that our lives are contracting, that we're more limited than before." If you struggle with rigidity when faced with uncertain circumstances, ask yourself these three questions, Shankar suggested:How might this change improve what you're capable of? Focusing on the opportunities you might gain — rather than what you could lose — can help you better adapt to unexpected challenges. But adapting to change can be a crucial life and professional skill — and practicing self-reflection can help you become more open to uncertainty, said Shankar.

Persons: Maya Shankar, Shankar, Carla Marie Manly, Manly, Warren Buffett Organizations: Yale University, University of Oxford

☆ Retailers are blaming organized theft for lower profits — but it's hard to tell if it's really rising
▼ + stars: | 2023-08-09 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

Lindsey Nicholson | Universal Images Group | Getty ImagesRetailers have zeroed in on organized retail theft as a top priority, as more and more companies blame crime for lower profits. Those mentions could flare up again as a flurry of retail companies will report financial results starting next week. Many of them described organized theft as an industrywide problem that's largely out of their control. While organized theft is a real concern, it is nearly impossible to verify the claims retailers make about it. Target has repeatedly said organized retail theft is fueling its inventory losses.

Persons: Lindsey Nicholson, Foot, Raphael Duguay, Duguay, Mark Cohen, Cohen, Bradlees Organizations: Universal, Getty, Retailers, U.S . Securities, Exchange Commission, Yale University School of Management, Columbia Business School, Sears Canada, Lazarus Department, National Retail Federation, Walgreens, Ucg, . Census, FBI, CNBC, Target Locations: Queens , New York

☆ New Covid variant: EG.5 is on the rise as coronavirus cases and hospitalizations go up
▼ + stars: | 2023-08-09 | by ( Brenda Goodman | ) edition.cnn.com time to read: +6 min

CNN —There’s a new coronavirus variant topping the leaderboard in the United States: EG.5. And it represents another incremental tweak to the virus rather than a major evolutionary leap like the original Omicron strain. This mutation has appeared in other coronavirus variants before. EG.5 also now has its own offshoot, EG.5.1, that adds a second mutation to the spike. Topol says the US can’t afford to delay its Covid-19 vaccine rollout.

Persons: CNN —, it’s, David Ho, ” Ho, ”, Eric Topol, Anne Hahn, Dan Barouch, virologist, ” Topol, Mandy Cohen, Topol, Dr, Sanjay Gupta Organizations: CNN, EG, US Centers for Disease Control, Columbia University, Scripps, Research, World Health Organization, Yale School of Public Health, Harvard University, US Food and Drug Administration, CDC, CNN Health, FDA Locations: United States, Northeast, FL, Ireland, France, Japan, China, Boston

☆ Newly Hired Consultants Are Getting Paid $175K to Do Nothing
▼ + stars: | 2023-08-09 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

New hires at some top consulting firms don't have enough work, The Wall Street Journal reported. MBA grads recruited into top consulting firms often earn sizable six figure salaries. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Those hired into consulting firms out of business school generally take home hefty six figure salaries. The impasse that new hires face comes as consulting firms have laid off swaths of their workforces over the past year.

Persons: grads, —, they're, Bain, Lakshmi Organizations: Street Journal, Service, Bain, Boston Consulting Group, McKinsey, Wall Street, Yale, Dartmouth, University of Virginia, — Bain Locations: Wall, Silicon, United States, Lakshmi Varanasi, lvaranasi

☆ The ruble has plunged to its lowest level against the dollar since war in Ukraine began as Putin's economy sputters
▼ + stars: | 2023-08-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's currency in recent days has plunged to its lowest level against the greenback since the war in Ukraine began. The ruble traded around 96 against the US dollar on Tuesday, a 30% decline from January. Russia's economy is struggling in the face of western sanctions and war in Ukraine, experts say. Russian officials have put up a show of defiance amid war and sanctions, and Putin has claimed Russia's economy could actually grow this year with GDP surpassing 2%. But those estimates are largely drawn from "cherry-picked" economic figures, according to Yale researchers, who say that under-the-radar statistics paint a far bleaker picture of Russia's economy.

Persons: Putin, Wagner, Vladimir Putin Organizations: greenback, Service, Kremlin, Yale Locations: Ukraine, Russia's, Wall, Silicon, Russia

☆ Educational TikTok teaches history you might not learn in school
▼ + stars: | 2023-08-08 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +9 min

Scholars and educators are increasingly using TikTok to share history that’s seldom found in textbooks — and their content is finding an audience. TikTok can fill in educational gapsKahlil Greene, known as Gen Z Historian on TikTok, is one of several educators on the platform who have built up a following around sharing little-known history. While some lawmakers and officials try to limit such instruction, that knowledge can be vital for students, said Ernest Crim III, a former high school history teacher who now makes educational content for TikTok. In fact, his educational content has resonated so widely that he left classroom teaching to make social media content full-time. TikTok educational content can empower communitiesEducational content on TikTok can also provide avenues for exploring one’s identity.

Persons: weren’t, Kahlil Greene, Greene, Martin Luther King Jr, “, ” Greene, Ernest Crim III, Crim, Ernest Crim III “, ”, TikTok, Carter G, Woodson, Henry Box Brown, Bill Darden, Viola Liuzzo, Selma, Moses Fleetwood Walker, Jackie Robinson, —, Ava DuVernay, ” Crim, Aslan Pahari, he’s, Pahari, — Pahari’s, “ I’m, they’re, “ They’re Organizations: CNN, Yale University, New York Times, University of California, Los Angeles School of Law, Facebook, Major League Baseball, MLB, Australian National University Locations: TikTok, —, White, California, Texas, Chicago, Black, Montgomery, Hughley, Sydney, South Asia, Central Asia, India, Afghanistan, Australia, Khyber Pakhtunkhwa, Punjab, Pakistan, West

☆ Analysis: No decoupling, but West and China drift apart
▼ + stars: | 2023-08-08 | by ( Mark John | ) www.reuters.com time to read: +5 min

Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. But underlying trade and investment trends point to an unmistakable long-term drift in commercial ties with the West. Take foreign direct investment - the more forward-looking clue as to where commercial ties between countries are heading. WATCH GERMANYSome, meanwhile, point to the fact that U.S.-China trade - exports and imports of goods combined - hit a record $690 billion last year as evidence that the reality does not match the frosty political rhetoric. Last month's China strategy document unveiled by Chancellor Olaf Scholz's three-way coalition left open exactly how far Berlin would ultimately go in reining in commercial ties.

Persons: Aly, China's, Louise Loo, Stephen Roach, Yale Law School's Paul Tsai, Angela Merkel, Chancellor Olaf Scholz's, Mark Leonard, –, Joe Biden, Loo, Mark John, Christina Fincher Organizations: REUTERS, West, Oxford Economics, Yale Law, Yale Law School's Paul Tsai China Center, Reuters, European Council, Foreign Relations, – Mercedes, Benz, BMW, Volkswagen, BASF –, Oxford, Thomson Locations: Port, Shanghai, China, United States, Europe, GERMANY, Germany, Berlin, reining, Taiwan, U.S

☆ Europe's biggest companies reported a combined €100 billion loss from leaving Russia, report says
▼ + stars: | 2023-08-07 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Since the invasion of Ukraine last year, companies have been scrambling to cut ties with Russia. An FT survey found that companies lost €100 billion attempting to leave the state. European companies have lost more than €100 billion in Russia since its invasion of Ukraine, according to the Financial Times. If energy and utilities were excluded from the survey, the largest writedowns come from Germany's chemical and automotive industries. In December 2022, Russia started forcing those companies selling their assets to dispose of them at a 50% discount, leading to a scramble among domestic businessmen for bargain-bin assets.

Persons: Putin, TotalEnergies –, Yale, Nabi Abdullaev, Vladimir Putin Organizations: Kremlin, Morning, Financial, BP, Shell, Danone Locations: Ukraine, Russia, Danone's

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