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☆ Russia economy: Former CIA chief David Petraeus says US needs to 'tighten the screws'
▼ + stars: | 2023-07-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

‘An economy that is hemorrhaging’Western sanctions have not delivered a deathblow to the Russian economy. Some, including economist Larry Summers, argue that economic penalties on Russia haven’t bitten as hard as anticipated because not enough countries have imposed sanctions. Others, like Yale professor Jeffrey Sonnenfeld, say sanctions are “working tremendously” well against Russia. Petraeus praised the Treasury Department’s “very impressive” sanctions campaign, led by Deputy Treasury Secretary Wally Adeyemo. But the former CIA chief noted the complexity involved in modern sanctions, where target countries often find ways to evade restrictions.

Persons: Vladimir Putin, David Petraeus, “ Putin, ” Petraeus, month’s Wagner, Petraeus, Putin, ”, “ They’ve, Larry Summers, Russia haven’t, Jeffrey Sonnenfeld, ” Sonnenfeld, Wally Adeyemo, “, Biden, Washington hasn’t, ’, you’re Organizations: New, New York CNN, CNN, KKR Global Institute, Reuters, US Central Command, CIA, Yale, KKR Locations: New York, Washington, Moscow, Russian, Europe, Russia, “ Russia, Ukraine, Kyiv

☆ ‘Out of Sight,’ 25 Years Later
▼ + stars: | 2023-06-27 | by ( Jason Bailey | ) www.nytimes.com time to read: +2 min

“I said sure, I’d read it right away, and I did,” Soderbergh wrote. In other hands, “Out of Sight” might not have proved to be such a game changer for Clooney, who was having a rough time making the transition from “E.R.” heartthrob to movie star. And another director might not have cast Jennifer Lopez, whose movie-star stock also rose considerably after her tough, sexy turn in the film. “Out of Sight” (streaming on Peacock) was part of a mini-bonanza of Leonard adaptations, following the success of “Get Shorty” (1995). (Tarantino told him that “Jackie Brown” was “nothing like ‘Out of Sight,’” Soderbergh wrote in March.

Persons: Steven Soderbergh, Casey Silver, “, Elmore Leonard, George Clooney, ” Soderbergh, Casey, ”, Soderbergh, Clooney, ” heartthrob, Jennifer Lopez, Leonard, Shorty ”, “ Shorty, Barry Sonnenfeld, Scott Frank, Frank, Cameron Crowe, Mike Newell, Quentin Tarantino’s, “ Jackie Brown, Tarantino, Jackie Brown ” Organizations: ”, ” Jersey Films, New York Times Locations: ” Jersey, Black

☆ Why chaos in Russia could spell trouble for the global economy
▼ + stars: | 2023-06-25 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

On Saturday, a fellow global energy power, Qatar, expressed “great concern” about the situation in Russia. Any meaningful loss of Russian energy would force China and India to compete with Western nations for supplies from other producers. Libya and Venezuela provide cautionary tales of how civil war and internal political strife can savage energy exports. At just under 10 million barrels per day, it produces about 10% of global crude oil demand. It took a long time for the Russian oil industry to recover from that.

Persons: Vladimir Putin, “ Putin, ”, Jeffrey Sonnenfeld, Richard Bronze, Matt Smith, Kpler, —, Stern, Agustin Carstens, Brent, Moscow, “, Sonnenfeld, — Sarah Diab, Sharon Braithwaite, Alexandra Peers, Ramishah Organizations: London CNN —, ” Yale, CNN, Western, Energy, Bank for International, BIS, US Energy Information Agency, Council, Foreign Relations Locations: Ukraine, Russian, Moscow, Russia, China, India, Qatar, Americas, Europe, United States, Basel, Asia, Venezuela, Libya, Saudi Arabia, OPEC, Soviet Union, London, New York

☆ Bad news for the Fed: American workers are becoming less productive
▼ + stars: | 2023-06-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But what does the Fed mean when it talks about labor markets and their impact on inflation? What’s happening: At its most basic level, labor productivity is a measure of the value of the goods and services produced by a company compared with the amount of labor used to produce that output. Labor productivity decreased 2.1% in the first quarter of 2023, the US Bureau of Labor Statistics reported earlier this month. The silver lining: The good news is technological innovations typically drive upturns in productivity and AI could be such an innovation. Absolutely not,” Yellen said, echoing the joint statement leaders from the Group of Seven made at last month’s summit in Japan.

Persons: Lisa Shalett, ”, Lisa Cook, Joseph Brusuelas, Sundar Pichai, aren’t, Jeffrey Sonnenfeld, Richard Blumenthal, “, Doug McMillon, Roger McNamee, Steven Spielberg, Vito Corleone, Janet Yellen, ” Yellen, Elisabeth Buchwald, Yellen, Biden Organizations: CNN Business, Bell, New York CNN — Federal Reserve, Morgan Stanley Wealth Management, Fed, Labor, US Bureau of Labor Statistics, BLS, McKinsey Global Institute, Federal, RSM US, of America, Google, Yale School, Management’s, Leadership Institute, Walmart, Technology, Financial, International Monetary Fund, Inter, American Development Bank group’s, African Development Fund, IMF Locations: New York, United States, Michigan, Connecticut, China, Japan

☆ 42% of CEOs say AI could destroy humanity in five to ten years
▼ + stars: | 2023-06-14 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Many top business leaders are seriously worried that artificial intelligence could pose an existential threat to humanity in the not-too-distant future. Forty-two percent of CEOs surveyed at the Yale CEO Summit this week say AI has the potential to destroy humanity five to ten years from now, according to survey results shared exclusively with CNN. The business leaders displayed a sharp divide over just how dangerous AI is to civilization. While 34% of CEOs said AI could potentially destroy humanity in ten years and 8% said that could happen in five years, 58% said that could never happen and they are “not worried.”In a separate question, Yale found that 42% of the CEOs surveyed say the potential catastrophe of AI is overstated, while 58% say it is not overstated. The CEOs indicated AI will have the most transformative impact in three key industries: healthcare (48%), professional services/IT (35%) and media/digital (11%).

Persons: “, ”, Jeffrey Sonnenfeld, Sonnenfeld, Doug McMillion, James Quincy, Yale, Sam Altman, Geoffrey Hinton, Hinton, “ I’m, ” Hinton, Jake Tapper, Robert Oppenheimer, ” Sonnenfeld Organizations: New York CNN Business, Yale, Summit, CNN, Sonnenfeld’s, Leadership Institute, Walmart, Xerox, Google, Microsoft

☆ Watch CNBC's full interview with Jeffrey Sonnenfeld and Kyle Bass
▼ + stars: | 2023-05-30 | 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 EmailWatch CNBC's full interview with Jeffrey Sonnenfeld and Kyle BassKyle Bass, Hayman Capital Management founder, and Jeffrey Sonnenfeld, Yale School of Management, joins 'Last Call to discuss the Chinese economy, U.S. business relations with China, and more.

Persons: Jeffrey Sonnenfeld, Kyle Bass Kyle Bass Organizations: Hayman Capital Management, Yale School of Management Locations: China

☆ Corporate executives need to start realizing risk in relation to China, says Hayman's Kyle Bass
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorporate executives need to start realizing risk in relation to China, says Hayman's Kyle BassKyle Bass, Hayman Capital Management founder, and Jeffrey Sonnenfeld, Yale School of Management, joins 'Last Call to discuss the Chinese economy, U.S. business relations with China, and more.

Persons: Hayman's Kyle Bass Kyle Bass, Jeffrey Sonnenfeld Organizations: Hayman Capital Management, Yale School of Management Locations: China

☆ Bob Iger strikes back: Disney sues DeSantis over control of its Florida resort
▼ + stars: | 2023-04-26 | 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 EmailBob Iger strikes back: Disney sues DeSantis over control of its Florida resortHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Jeffrey Sonnenfeld, Yale School of Management, and Kenneth Cuccinelli, Never Back Down founder, join the show to discuss the legal battle between Disney and Gov. Ron DeSantis.

☆ On the hot seat: How will the new 737 Max woes affect Boeing CEO's future
▼ + stars: | 2023-04-14 | 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 EmailOn the hot seat: How will the new 737 Max woes affect Boeing CEO's futureHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Jeffrey Sonnenfeld, Yale School of Management, and Kyle Bailey, aviation analyst, join the show to discuss Boeing’s production halt.

☆ Premarket stocks: CEOs are tired of being held responsible for gun regulation
▼ + stars: | 2023-04-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Dick’s Sporting Goods stopped selling semi-automatic, assault-style rifles at stores and Citigroup put new restrictions on gun sales by business customers after the mass shooting at a high school in Parkland, Florida, in 2018. But Yale professor Jeffrey Sonnenfeld, a vocal advocate of corporate social responsibility who has a direct line to major CEOs around the globe, said that top executives are forlorn. Before the Bell: CEOs have been quiet about gun reform since the latest mass school shooting in Nashville, have you heard anything about plans to speak out? Enough already on saying ‘what are the CEOs doing?’ Social capital is as valuable as financial capital. But don’t these CEOs hold the purse strings in terms of donating to powerful politicians?

☆ Russia detains WSJ journalist: White House condemns actions as 'unacceptable'
▼ + stars: | 2023-03-31 | 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 EmailRussia detains WSJ journalist: White House condemns actions as 'unacceptable'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Jeffrey Sonnenfeld, Yale School of Management, joins the show to discuss the Russia detaining an American journalist who wrote for the Wall Street Journal.

☆ Russia is forcing Western companies exiting its market to make a donation to the country — and it's making it harder for them to leave
▼ + stars: | 2023-03-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Foreign investors exiting Russia must donate at least 10% of the sale proceeds of their assets to the state. Russia witnessed an exodus of companies it invaded Ukraine, but some have remained — either voluntarily or due to challenges in leaving the Russian market. About 550 foreign companies are still actively operating in the country, according to Yale's list. These options are not available to every company — especially since there would be fewer potential buyers in the first place due to sweeping sanctions against Russia, according to Estrin and Meyer. Over 2,000 companies are seeking approval to exit the Russian market, the Financial Times reported on Tuesday, citing a person involved in an exit negotiation.

☆ Yale's Jeffrey Sonnenfeld explains why the Fed is responsible for the bank debacle
▼ + stars: | 2023-03-20 | 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 EmailYale's Jeffrey Sonnenfeld explains why the Fed is responsible for the bank debacleJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Power Lunch' to discuss the current bank debacle, whether this chaos is another black eye for corporate America and for capitalism.

☆ Watch CNBC's full interview with Yale’s Jeffrey Sonnenfeld
▼ + stars: | 2023-03-20 | 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 EmailWatch CNBC's full interview with Yale’s Jeffrey SonnenfeldJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Power Lunch' to discuss the current bank debacle, and whether this chaos is another black eye for corporate America and for capitalism.

☆ 'Shark Tank' star Kevin O'Leary is blaming Silicon Valley Bank's implosion on a 'negligent board of directors' with 'idiot management'
▼ + stars: | 2023-03-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Kevin O'Leary has blamed Silicon Valley Bank's management for the bank's implosion. Silicon Valley Bank collapsed after a bank run, and there are differing opinions on why that happened. The Federal Deposit Insurance Corporation took control of Silicon Valley Bank on Friday after a catastrophic bank run. There has been mud-slinging in all directions over the factors that may have contributed to Silicon Valley Bank's failure. Representatives for Silicon Valley Bank did not immediately respond to Insider's request for comment outside regular business hours.

☆ Wharton professor Jeremy Siegel blames the Fed for SVB's collapse - and warns of more failures and a painful recession
▼ + stars: | 2023-03-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The Fed's inflation fight was a key factor in Silicon Valley Bank's collapse, Jeremy Siegel said. Siegel flagged the growing risk of recession if the Fed keeps raising rates. Higher rates increase borrowing costs and encourage saving over spending, which typically pulls down asset prices, saps demand, and increases the risk of a recession. One of SVB's key mistakes was investing its deposits in long-duration bonds, which plunged in price as interest rates rose. They warned that if the US central bank hikes rates by 50 basis points in March, that would increase the risk of more SVB-type implosions.

☆ ‘Absolutely idiotic’. SVB insider says employees are angry with CEO
▼ + stars: | 2023-03-13 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

“That was absolutely idiotic,” the employee, who works on the asset management side of Silicon Valley Bank, told CNN in an interview. By the close of business that day, Silicon Valley Bank had a negative cash balance of about $958 million. “People are just shocked at how stupid the CEO is,” the Silicon Valley Bank insider said. “There should be no mistaking that Silicon Valley Bank’s collapse was a direct result of the Fed’s persistent and excessive interest rate hikes,” they wrote. Of course, Silicon Valley Bank had more than a year to prepare for both of those issues.

☆ IMF chief: Ukraine war will have ‘devastating’ consequences for Russia’s economy
▼ + stars: | 2023-03-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

In January, the IMF projected that Russia’s economy would expand by 0.3% this year and 2.1% the next. Georgieva told CNN that Russia’s economy would suffer over time as workers emigrated and access to technology was cut off, and as sanctions on its vast energy industry took a toll. Yet according to Georgieva, it’s essential policymakers don’t ease up on interest rate hikes prematurely, lest prices soar again. The Fed slowed the pace of rate hikes last month, but Powell indicated in testimony to Congress Tuesday that the central bank may need to turn hawkish again. The Fed “would be prepared to increase the pace of rate hikes” if necessary, he added.

☆ Paul Ryan grilled for remaining on Fox board of directors amid election fraud revelations
▼ + stars: | 2023-03-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

New York CNN —Former House Speaker Paul Ryan was grilled Tuesday over his decision to remain on the board of directors of Fox News’ parent company after damning court documents showed that the right-wing network knowingly peddled election lies to its audience. I have a responsibility to offer my opinion and perspective and I do that, but I don’t go on TV and do it, right. So I offer my perspective, my opinion, often,” Ryan replied. Instead, Ryan said, “I want to see the conservative movement get through this moment. And I think Fox is a big part of the constellation of the conservative movement.”“Is it the solution or the problem?” Sykes asked.

☆ Fox executives should be fired for ‘proven misconduct’ exposed in Dominion lawsuit, renowned Yale professor says
▼ + stars: | 2023-03-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The Fox Corporation board has a huge mess on its hands — and it needs to work quickly to clean it up. That’s according to Jeffrey A Sonnenfeld, the renowned professor and senior associate dean for leadership studies at the Yale School of Management. The former House speaker said that Fox News should “move on from Donald Trump” and “stop spouting election lies.”But Sonnenfeld said Ryan’s actions were not enough. In fact, he said Ryan’s “quiet dissent” was “cowardly, ineffective, and immoral,” and pointed out that board members have certain responsibilities under corporate governance law in Delaware, where Fox is incorporated. Fox News has previously said it was “proud” of its 2020 election coverage, which is a statement that only grows more remarkable by the day.

☆ Continuing Sanctions Against Russia Mark ‘Tectonic’ Shift
▼ + stars: | 2023-02-24 | by ( Richard Vanderford | ) www.wsj.com time to read: +7 min

Hundreds of companies, though, decamped, calculating that the looming threat of sanctions ratcheting up and reputational risk warranted an exit. Prof. Sonnenfeld and Mr. Tannebaum both have been personally sanctioned by Russia, which has accused critics of engaging in a “Russophobic” campaign. “Countries continue to rely on those tools for foreign policy. The Russia sanctions have functioned as a “wake-up call” to the C-suite, Mr. Smith said. The use of coordinated sanctions, both in Russia and as a broader foreign policy tool, doesn’t seem to be going away, experts agreed.

☆ A Year After Russia’s Invasion of Ukraine, Tough Sanctions Linger
▼ + stars: | 2023-02-24 | by ( Richard Vanderford | ) www.wsj.com time to read: +7 min

Russia’s invasion of Ukraine a year ago prompted a volley of tough sanctions from the U.S. and its allies, a historic use of economic measures that will likely have lasting implications for businesses. Hundreds of companies, though, decamped, calculating that the looming threat of sanctions ratcheting up and reputational risk warranted an exit. “Countries continue to rely on those tools for foreign policy. The Russia sanctions have functioned as a “wake-up call” to the C-suite, Mr. Smith said. The use of coordinated sanctions, both in Russia and as a broader foreign policy tool, doesn’t seem to be going away, experts agreed.

☆ Russia says its economy did better than expected, one year into the Ukraine war. But experts say there's a red flag behind the announcement.
▼ + stars: | 2023-02-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

According to Russia's federal statistics service, the country's GDP contracted by 2.1% in 2022. However, Russia stopped publishing some key economic data last year, throwing up a red flag. While this contraction reversed a 5.6% GDP growth in 2021, it did far better than an 8.8% to 12.4% contraction that Russia's economy ministry projected in April 2022. The war in Ukraine triggered heightened concerns over issues related to energy security, particularly about natural gas exports — which Europe was reliant on. The EU's ban on Russian oil imports from December sent countries rushing to load up before the embargo kicked in, which helped prop up Russia's energy coffers.

☆ China knows it doesn't need Putin: Yale's Jeffrey Sonnenfeld
▼ + stars: | 2023-02-21 | 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 EmailChina knows it doesn't need Putin: Yale's Jeffrey SonnenfeldJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Squawk Box' to discuss the list of companies who pulled business operations out of Russia, what the same companies would do with China, and more.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

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