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☆ Edgar Bronfman, Jr., slams UPenn leaders for ‘morally bankrupt’ response to Hamas terror attack on Israel
▼ + stars: | 2023-11-13 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Private equity executive Edgar Bronfman, Jr., whose family includes well-known supporters of Israel, is calling for the leaders the University of Pennsylvania to step down due to their response to the Hamas terror attacks against Israel, CNN has learned. College campuses have experienced a surge in tensions since the October 7 terror attack by Hamas and as the Israel-Hamas war continues. Last week, UPenn said it alerted the FBI to a series of threatening antisemitic emails sent to university staff. UPenn declined to comment on the Bronfman email. “This blurring of Hate speech as free speech is exactly what the University has enabled – even encouraged,” Bronfman wrote.

Persons: Edgar Bronfman , Jr, Bronfman, Liz Magill, Scott Bok “, “, ”, ” Bronfman, Magill, Marc Rowan, Dick Wolf, Jon Huntsman, Cliff Asness, Bok, UPenn, ” Magill, –, Edgar Bronfman Sr Organizations: New, New York CNN, University of Pennsylvania, CNN, Ivy League, “, Penn, Wharton , New York University, Bard, Harvard, Georgetown . College, FBI, University of Virginia, Waverly Capital, University, Warner Music Group, Seagram, Lauder Institute, Wharton, World Jewish Congress Locations: New York, Israel, Wharton ,, Palestine

☆ Civil rights complaints allege UPenn and Wellesley allowed antisemitism to ‘run rampant’
▼ + stars: | 2023-11-10 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —A Jewish legal rights advocacy group has alleged that the University of Pennsylvania and Wellesley College have violated federal civil rights law by allowing for discrimination against Jews. The Brandeis Center, a Jewish civil rights legal organization, filed civil rights complaints with the US Department of Education on Thursday, alleging both schools failed to adequately respond to harassment of Jews. “These colleges and universities have failed to keep Jewish students safe and are in clear violation of well-established federal civil rights law,” Kenneth Marcus, founder and chairman of the Brandeis Center, said in a statement. The complaints argue both schools have violated Title VI of the Civil Rights Act of 1964, which protects people from discrimination in programs or activities that receive federal financial assistance. The 27-page complaint alleges “Penn’s nurturing of a hostile environment toward Jewish students is a patent violation of” Title VI.

Persons: ” Kenneth Marcus, “ There’s, ” Marcus, ”, UPenn, Wellesley, “ Penn, Brandeis, Liz Magill, Magill, ” Magill, Paula Johnson, ” Johnson, “, RAs, Wellesley’s, CNN’s Rene Marsh, Miguel Cardona, wouldn’t, Cardona, ” Cardona, Henry Swieca, Swieca Organizations: New, New York CNN, University of Pennsylvania, Wellesley, Brandeis Center, US Department of Education, Civil, College, FBI, Ivy League school’s, of Pennsylvania, Penn, CNN, of Education, Ivy League, Columbia Business School, Wall Street, Board, School, ” Locations: New York, Israel, UPenn, Palestine, Wellesley, Gaza, Columbia

☆ GOP lawmakers call for VA to slash reliance on China for medical supplies
▼ + stars: | 2023-11-08 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —A pair of Republicans leading powerful House committees are calling for the Department of Veterans Affairs to speed up efforts to decrease the agency’s reliance on China for medical supplies, CNN has learned. The Covid-19 pandemic laid bare a dangerous vulnerability in America’s medical supply chains that resulted in shortages of masks, respirators and other life-saving gear. “The COVID-19 pandemic exposed the national security and public health risks of failing to guarantee adequate medical supplies. As the biggest buyer of medical supplies among federal agencies, it has considerable influence. Congress has attempted to take steps to boost the resilience of the nation’s medical supply chain by easing dependence on goods from less friendly nations like China.

Persons: Mike Gallagher, Mike Bost, Denis McDonough, Bost, Gallagher, “, ” Terrence Hayes, Joe Biden, Health Richard Stone, ” Bost, McDonough, Democratic Sen, Tom Carper, Republican Sen, Thom Tillis, ” Organizations: New, New York CNN, Department of Veterans Affairs, CNN, Veterans ’, Chinese Communist Party, CCP, Department of Veteran Affairs, Defense Department, Department of Homeland Security, Department of Health, Human Services, Republicans, Health, World Trade Organization, Congress, Democratic, Republican Locations: New York, China, United States, America, Covid, Mexico, Malaysia

☆ Citibank fined $26 million for ‘treating Armenian Americans like criminals,’ US agency says
▼ + stars: | 2023-11-08 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Citibank illegally discriminated against Armenian Americans for years by singling them out on credit card applications based on their surnames, a federal regulator alleged on Wednesday. “Citi treated Armenian Americans as criminals who were likely to commit fraud,” the CFPB alleged. Citi applied more stringent criteria to suspected Armenian Americans’ applications, including “denying them outright,” placing blocks on the accounts and requiring additional information, according to the regulator. To punish Citi for the alleged discrimination, the CFPB ordered the bank to pay $25.9 million in fines and consumer redress. “Regrettably, in trying to thwart a well-documented Armenian fraud ring operating in certain parts of California, a few employees took impermissible actions,” Citi spokesperson Karen Kearns said in a statement to CNN.

Persons: “, “ Regrettably, ”, Karen Kearns Organizations: New, New York CNN, Citibank, Armenian, Consumer Financial, Bureau, Citi “, Citi, ” Citi, CNN Locations: New York, California

☆ More Americans are yanking money from their 401(k) plans to pay the bills
▼ + stars: | 2023-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

The growing reliance on 401(k) plans as a source of urgent cash is further evidence of consumer financial stress heading into the 2024 election year. Despite high GDP and low unemployment, some Americans are clearly facing a cash crunch and struggling to pay the bills. Bank of America said the number of 401(k) participants taking hardship distributions increased by 27% from the first quarter of this year. Bank of America found 401(k) contribution rates were steady during the third quarter at 6.5%. Just under 3% of those age groups are cutting back on their retirement savings.

Persons: Lisa Margeson, America’s Margeson, “, Gen Organizations: New, New York CNN, Bank of America, Bank of, New York Federal, ” Bank, America’s Locations: New York

☆ This is the least affordable housing market since 1984. It’s getting worse
▼ + stars: | 2023-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Wannabe homebuyers are getting hammered by a painful combination of high mortgage rates and high home prices. For the first time, monthly payments are above $2,500 – and that doesn’t even include taxes, insurance or other fees. Turmoil in the bond market and the Federal Reserve’s war on inflation have driven up mortgage rates to levels unseen since 2000. Aided by emergency action from the Fed, mortgage rates briefly tumbled below 2.7% in late 2020 and early 2021. At today’s rates, monthly payments on a $500,000 home would stand at roughly $3,265 after putting 20% down.

Persons: Ronald Reagan, Andy Walden, They’ve, Freddie Mac Organizations: New, New York CNN, Intercontinental Exchange, ICE, New York Stock Exchange Locations: New York, homeownership

☆ Deposit delays: Fed tells banks to get customers help
▼ + stars: | 2023-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Federal Reserve officials are urging banks to work with customers hurt by ongoing deposit delays that have prevented some people from accessing their paychecks and other funds. The deposit delays are linked to a problem that emerged on Friday with the Automated Clearing House (ACH) payments system, causing headaches for consumers and employers. “The Federal Reserve encourages banks to work quickly to resolve issues for customers experiencing delays in receiving direct deposit payments as a result of operational issues at a private sector payments provider,” a Fed spokesman told CNN in a statement. Fed officials signaled they want banks to help customers by waiving overdraft or late fees. The Consumer Financial Protection Bureau similarly told CNN on Monday that consumers “should not be penalized” by fees and penalties.

Persons: haven’t, waiving overdraft, JPMorgan Chase, Banks, Chase Organizations: New, New York CNN — Federal Reserve, Federal Reserve, CNN, Consumer Financial, JPMorgan, Fed, ACH Network, Bank of America, US Bank Locations: New York, United States, Wells Fargo

☆ More than 20 members of Congress send letter to UPenn over alleged failure to address antisemitism on campus
▼ + stars: | 2023-11-07 | by ( Manav Tanneeru | Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The letter, dated November 1, comes after the college was accused by wealthy donors and alumni of alleged failure to condemn antisemitism and hate following the attack. A similar letter from Norman was sent the same day to other universities such as Yale, Columbia and Harvard. Controversy began when a multiday event took place in September on campus at UPenn called the Palestine Writes Literature Festival. “This is an incredibly challenging moment in the world, and we are feeling its reverberations on our campus,” Magill wrote. “We can and will do better to combat antisemitism and to reject hate in all its forms.”UPenn didn’t immediately respond for comment about the letter.

Persons: Liz Magill, –, Ralph Norman of, Nancy Mace, Nicole Malliotakis, Michael McCaul, Norman, “, ” Norman, UPenn, Marc Rowan, ” Rowan, Magill’s, ” Magill, UPenn didn’t, – CNN’s Matt Egan Organizations: New, New York CNN, University of Pennsylvania, Harvard, Apollo Global Management Locations: New York, Israel, Ralph Norman of South Carolina, South Carolina, Michael McCaul of Texas, Yale, Columbia, UPenn, ”

☆ Banking industry direct deposit delays: Customers of Bank of America, Chase, and more have reported payment issues
▼ + stars: | 2023-11-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Some customers still haven’t received their direct deposit paychecks following a “human error” last week deep in the plumbing of America’s banking system. The deposit delays are linked to a problem that emerged on Friday with the Automated Clearing House (ACH) payments system, causing headaches for consumers and employers. An industry source confirmed to CNN on Monday that it’s likely some customers haven’t received their deposits yet. Clearing house says it was a ‘manual error’Asked for comment, multiple banks referred inquiries to The Clearing House, which is owned by the largest commercial banks including Bank of America, JPMorgan Chase, CitiBank and Wells Fargo. The Clearing House did not provide an updated comment on Monday or any timetable for when the problem will be fully resolved.

Persons: haven’t, Banks, Chase, ”, Downdetector, Wells, “ Wells, Wells Fargo, Jim Seitz, ” Chase, Greg MacSweeney, MacSweeney, Dennis Kelleher, ” Kelleher Organizations: New, New York CNN, CNN, Consumer Financial, Bureau, Bank of America, US Bank, Twitter, “, ” Bank of America, JPMorgan Chase, CitiBank, House, Federal Reserve, Fed, ACH Network, Better Locations: New York, Wells Fargo, ACH, United States

☆ Three things you can do if your bank deposits were delayed
▼ + stars: | 2023-11-06 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

The situation is not yet fully resolved, and it’s unclear just how many banks were affected, although Bank of America, Chase and US Bank have confirmed they are among them. That would include an overdraft fee from your bank if a payment was made from your account before an expected deposit showed up. But if it’s not, contact your bank and let them know the situation needs to be corrected. You also want to avoid a late fee or penalty interest from a creditor if your payment got delayed. “The key is providing verifiable documentation that the delay was not your fault.”At the moment it’s not clear whether or how every affected bank is notifying their customers.

Persons: ”, Bruce McClary, ” McClary, Thomas Kelly, it’s, McClary, you’re, — CNN’s Matt Egan Organizations: New, New York CNN, Bank of America, Chase, US Bank, National Foundation, Credit, JPMorgan Chase, Consumer Financial Protection Bureau Locations: New York, —

☆ Bank of America warns of banking industry deposit delays
▼ + stars: | 2023-11-03 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Bank of America alerted customers on Friday that their deposits may be delayed due to a problem impacting multiple banks. Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo have complained of issues on Friday morning, according to Downdetector. An industry source tells CNN that the issue appears to be related to the Automated Clearing House (ACH), which is a network for processing transactions. The source said the problem does not appear to be a bank-specific issue. In a message to customers on Friday, Bank of America said “some deposits may be temporarily delayed.”The message said the deposits from Friday may be delayed due to an “issue impacting multiple financial institutions.”“Your accounts remain secure, and your balance will be updated as soon as the deposit is received,” the Bank of America message read.

Persons: Wells Fargo Organizations: New, New York CNN — Bank of America, Bank of America, US Bank, CNN, Reserve, US Treasury Department Locations: New York, Truist, Wells

☆ ‘It all feels like a nightmare.’ This mom and former Israeli tank commander is leading her tech startup from a war zone
▼ + stars: | 2023-11-03 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Cohen, a former tank commander in the Israeli Army, had no doubt she should immediately return to Tel Aviv. Now she is leading Hello Heart from Tel Aviv, where the company employs about 80 people. Other Hello Heart employees are Palestinians, including some who have family in Gaza. After the terror attack, Hello Heart consulted a trauma expert to help address the mental health stress. “I told our board we’re going to win the war against Hamas,” Cohen said.

Persons: New York CNN — Maayan Cohen, Cohen, ” Cohen, ”, ” ‘, ’ Cohen, I’ve, Maayan Cohen, Micha, you’re, Heart, “, “ We’re Organizations: New, New York CNN, Israeli Army, CNN, CVS, Delta Air Lines, Heart’s Tel, Hamas Locations: New York, Tel Aviv, Las Vegas, Israel, Vegas, American, Silicon Valley, California, Gaza, Heart’s, Heart’s Tel Aviv

☆ Top law firms call out antisemitism on college campuses
▼ + stars: | 2023-11-02 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Some of the nation’s most powerful law firms are warning America’s elite universities to crack down on antisemitism on campus – or the schools and their students will face real consequences. “Over the last several weeks, we have been alarmed at reports of anti-Semitic harassment, vandalism and assaults on college campuses, including rallies calling for the death of Jews and the elimination of the State of Israel,” more than two dozen law firms wrote in a letter obtained by CNN. The letter campaign was spearheaded by Joe Shenker, senior chair of Sullivan & Cromwell, according to the New York-based law firm. “One would hope that by the twenty-first century, antisemitism would have been relegated to the dustbin of history,” Columbia University leaders said in a statement. Last month, a Columbia student hanging up posters on campus in support of Israel was assaulted.

Persons: Moore, Ellis, Paul, Weiss, Wachtell, Lipton, Katz, Joe Shenker, Sullivan, Cromwell, Ryna Workman, Israel “, ”, Strawn, Workman, “, ” Workman, they’ve, Liz Magill, ” Magill, ” Gillian Lester Organizations: New, New York CNN, CNN, Debevoise, Plimpton, Kirkland, Garrison, Rosen, Yale, Harvard, University of Virginia, University of Pennsylvania, Cornell, University of Michigan, University of Michigan , New York University, Stanford, NYU Student Bar Association, Winston, NYU, Columbia University, ” Columbia University, Columbia Law School, Cornell University Locations: New York, Israel, ”, Rifkind, Wharton, Slate, Columbia, Georgetown, University of Michigan , New, Penn, New York City

☆ UPenn president Liz Magill launches plan to fight antisemitism after facing donor backlash
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —University of Pennsylvania President Liz Magill, facing a backlash from donors calling for her to resign, launched a new effort on Wednesday to fight antisemitism at the Ivy League school. “This is an incredibly challenging moment in the world, and we are feeling its reverberations on our campus,” Magill wrote in a letter to the Penn community on Wednesday. “The engagement of Jewish faculty, students, staff and alumni has been an important part of the success of Penn as a leading University,” Magill said. Magill condemned antisemitism broadly before that festival and noted that some speakers had a history of making antisemitic remarks. Organizers of the three-day-long Palestine Writes festival denied that it embraced antisemitism, according to UPenn student newspaper The Daily Pennsylvanian.

Persons: Liz Magill, Magill, ” Magill, “, Mark Wolff, UPenn, University of Pennsylvania Liz Magill Shutterstock “, I’ve, Marc Rowan, Rowan, Dick Wolf, Jon Huntsman, Cliff Asness, Penn, ” Rowan, Ronald Lauder, ” Wolf, ”, Vahan Gureghian, Gureghian, Scott Bok, ” Gureghian Organizations: New, New York CNN — University of Pennsylvania, Ivy League, Penn, University of Pennsylvania, Private, “, University, Apollo Global Management, CNN, Israel, Wolf Humanities Center, Daily, Magill Locations: New York, ”, Penn, Palestine, Israel

☆ Chuck Schumer and Elizabeth Warren want FTC to probe blockbuster Exxon, Chevron mergers
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and nearly two dozen other Democrats are demanding federal regulators probe the mega takeovers inked last month by ExxonMobil and Chevron. Exxon, already America’s biggest oil company, reached a deal in October to buy rival Pioneer Natural Resources for $60 billion. In the letter, the Senate Democrats argue past mergers that helped create Exxon and Chevron “enabled anticompetitive coordination” that hurt consumers by limiting supply of oil. “The oil-and-gas industry is still dominated by a handful of corporate giants, led by the top-two players Exxon and Chevron. The Senate Democrats note that Pioneer owns more drilling acreage than any other Permian producer and Exxon is also a top producer there.

Persons: Chuck Schumer, Sen, Elizabeth Warren, Hess, Schumer, Sens, Bernie Sanders, Amy Klobuchar, Exxon, White, Michael Kikukawa, ” Organizations: New, New York CNN, ExxonMobil, Chevron, Federal Trade Commission, Oil, Exxon, Natural Resources, FTC, Democrats, CNN Locations: New York, Chevron, Warren

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.

Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru

☆ Hedge fund billionaire Leon Cooperman, in rare public rebuke of a Republican candidate, says Trump ‘belongs in jail’
▼ + stars: | 2023-10-30 | by ( Lisa Emmanuel | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Leon Cooperman, the hedge fund billionaire who has famously clashed with Sen. Elizabeth Warren over her proposed wealth tax, is cautioning voters against returning Donald Trump to the White House. “It would be terrible for the country if Donald Trump were reelected,” Cooperman told CNN in a phone interview late last week. “He’s a divisive human being who belongs in jail.”It’s rare for a Wall Street figure to make such critical comments about Trump, at least publicly. The Biden campaign did not respond to a request for comment. Given the ongoing risks, Cooperman argued the stock market is overvalued relative to corporate profits.

Persons: New York CNN — Leon Cooperman, Sen, Elizabeth Warren, Donald Trump, ” Cooperman, “, Warren, Joe Biden, CNN he’s, Trump, Biden, Cooperman, ”, Republican Chris Christie’s, Steven Cheung, he’s, ” Cheung Organizations: New, New York CNN, CNN, Trump, Biden, Republican, Omega Advisors, Bank Locations: New York, Washington

☆ Janet Yellen to deliver major speech detailing US economic strategy toward Indo-Pacific
▼ + stars: | 2023-10-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —At a moment of elevated geopolitical danger, Treasury Secretary Janet Yellen plans to deliver a major speech on Thursday mapping out the Biden administration’s economic gameplan toward the increasingly volatile Indo-Pacific region, CNN has learned. The speech will mark the first time the Biden administration has outlined its economic approach toward the region in such detail. Recently, China and the Philippines accused each other of causing collisions in a disputed area of the South China Sea. Beyond the high-profile trip to China, Yellen has visited the Indo-Pacific multiple times during the Biden administration, including four trips to India, two trips each to Japan and Indonesia and visits to Vietnam and Korea. On Friday, the White House announced Biden will travel to San Francisco on November 14 to host representatives from the 21 APEC member economies for APEC Economic Leaders’ Week.

Persons: Janet Yellen, Biden, Joe Biden, Xi Jinping, Yellen, “ That’s, ” Biden, Antony Blinken, Xi Organizations: New, New York CNN, Biden, CNN, Economic Cooperation, Treasury, Asia Society, APEC, Investors, Democratic, White House Locations: New York, Asia, San Francisco, Beijing, China, Philippines, South China, Japan, South Korea, India, Vietnam, Indonesia, Korea, Washington, United States, Bali .

☆ A Friendship Forged in Wartime Casts a Long Shadow
▼ + stars: | 2023-10-27 | by ( Jennifer Egan | ) www.nytimes.com time to read: +2 min

ABSOLUTION, by Alice McDermottAlice McDermott is rightly celebrated for her granular, nuanced portraits of mid-20th-century life, with a particular focus on Irish Americans. Her fans may be startled, then, to find themselves plunged into 1963 Saigon at the start of her enveloping new novel, “Absolution,” whose lofty title belies its sensory, gritty humanity. McDermott’s contextual leap is not as great as it might seem. A bossy insider and mother of three, Charlene masterminds a “cabal” of charitable military-industrial wives bent on helping poor and ailing Vietnamese. Their work consists of channeling black-market profits into buying trinkets and candy to distribute to hospitalized children (some of whom may be recovering from war wounds) and their impoverished families.

Persons: Alice McDermott Alice McDermott, ” Patricia Kelly, Peter, Billy Lynch, “ Charming Billy ”, Marie, Peter Kelly’s, Kennedy, Ngo Dinh Diem, ” Graham Greene’s, McDermott, ”, Patricia, Charlene, Charlene masterminds Organizations: Americans, Catholic, Central Intelligence Agency, “ Catholic Intelligence Agency, WASP Locations: Saigon, American, McDermott’s, “, Vietnam, South Vietnam

☆ Hedge fund billionaire Leon Cooperman: Students protesting Israel have ‘sh*t for brains’
▼ + stars: | 2023-10-27 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Hedge fund billionaire Leon Cooperman is blasting college students for protesting against Israel, joining a growing list of powerful university donors to speak out on the issue. “These kids in college have sh*t for brains,” Cooperman told CNN in a phone interview. Earlier this month, a Columbia University student who was hanging up posters in support of Israel was assaulted. Samantha Slater, a Columbia University spokesperson, declined to comment on whether the university plans to take disciplinary action against Massad. “Columbia is grateful to Mr. Cooperman for his years of generosity and service to Columbia Business School,” Slater said in a statement to CNN.

Persons: Leon Cooperman, ” Cooperman, “, “ It’s, I’m, ”, Cooperman, Israel, he’s, ” Joseph Massad, Samantha Slater, ” Slater, It’s, ’ they’re, CNN’s Reid Champlin Organizations: New, New York CNN —, Israel, CNN, Hamas, Fox Business, Columbia University, Ivy League, Columbia, Massad, Columbia Business School Locations: New York, Israel, United States, Bronx, Columbia, “, ”

☆ Employees ‘didn’t work as hard’ when remote during Covid, billionaire CEO says
▼ + stars: | 2023-10-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Private-equity billionaire Stephen Schwarzman doesn’t think office workers worked hard enough during Covid-19. “It was actually more profitable for them to stay home because one, they didn’t work as hard, regardless of what they told you. For example, about 58% of Manhattan office workers were at their workplace on an average weekday in late August and September, according to a survey from the Partnership for New York City. Just 12% of Manhattan office workers are in the office full time, according to that survey. Schwarzman, the Blackstone CEO, estimated that 20% of US office buildings are vacant and another 20% are leased but empty.

Persons: Stephen Schwarzman doesn’t, they, Slack, Blackstone, ” Schwarzman, Jamie Dimon, ” DImon, ” Dimon, “ Organizations: New, New York CNN —, Blackstone, “ Davos, Commonwealth Fund, Future Investment, JPMorgan, Partnership Locations: New York, Saudi Arabia, Manhattan, New York City

☆ L.L. Bean closes headquarters, stores and factories in Maine after mass shooting
▼ + stars: | 2023-10-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Bean spokesperson Amanda Hannah said the company’s large campus of four stores in Freeport as well as its corporate headquarters in that town will be closed on Thursday. Bean,” the company spokesperson said. Camden National Bank and Bangor Savings Bank posted notices on their websites Thursday morning announcing multiple bank branches will be shut on Thursday. “We are shocked and deeply saddened by the horrific mass shooting in Lewiston, Maine. We mourn the loss of loved ones, friends and neighbors in Lewiston,” the bank spokesperson said.

Persons: CNN —, Bean, L.L, Amanda Hannah, . Bean, Hannaford, ” Hannaford, Allagash, ” Allagash Organizations: CNN, Hannaford, Facebook, Lewiston ., Lewiston . Camden National Bank, Bangor Savings Bank, . Camden National, Bangor Savings, ”, Bank Locations: Maine, Freeport, Lewiston, Brunswick, Lewiston . Camden, Bangor, Lewiston , Auburn, Topsham, Richmond, Bath, ”, Lewiston , Maine, Maine’s, Portland, ” “ Maine

☆ Mobile billboard at Columbia University shows names and faces of students allegedly linked to anti-Israel statement
▼ + stars: | 2023-10-25 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —A mobile billboard truck drove outside the entrance of Columbia University on Wednesday displaying the names and faces of students that a conservative nonprofit responsible for the truck says were linked to a statement blaming Israel for the Hamas terror attack. Photos viewed by CNN showed Columbia students following the truck and blocking it with balloons and posters. The truck was sent by the same group that sent a billboard truck earlier this month near Harvard displaying the names and faces of Harvard students linked to an anti-Israel letter. The group said the students whose names and faces were displayed on the Columbia truck were linked to a statement published earlier this month by Palestinian solidarity groups. Multiple Columbia students told CNN on Wednesday they were alarmed by the “doxxing truck.”“I was at once heartbroken and infuriated.

Persons: Israel, ”, Lily, ” Lily, Minouche, ” Shafik Organizations: New, New York CNN, Columbia University, CNN, Columbia, Harvard, U.S ., ” University Locations: New York, Columbia, Israel, Harvard, Gaza

☆ Columbia University postpones major fundraiser amid tensions over Israel-Hamas war
▼ + stars: | 2023-10-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Columbia University has postponed its massive Giving Day fundraising event scheduled for Wednesday amid simmering tensions on campus over the Israel-Hamas war. At Columbia, school officials took the rare step earlier this month of shutting the campus down to the public as two simultaneous rallies were held on school grounds. That decision came after the assault of a Columbia student who was hanging up posters on campus in support of Israel. In a statement on Tuesday, the alumni club of Israel said it is now “formally disengaged” from UPenn. We are reviewing this incident and will take any appropriate steps with respect to the individuals involved in accordance with university policies,” the university said.

Persons: “, Samantha Slater, ”, Minouche Shafik, Shai Davidai, Shafik, it’s, ” Davidai, “ Ben Franklin, Doc Hoch, Dalia Hope Levine, Liz Magill, Dick Wolf, Jon Huntsman, Cliff Asness, Marc Rowan, Rowan, Emil Woods, Magill, “ Penn, Penn, ” Woods, Rowan . Woods Organizations: New, New York CNN — Columbia University, Columbia, University, Columbia Business School, University of Pennsylvania, Penn Alumni Club of Israel, Ivy League, Palestine, CNN, “, George Washington University Locations: New York, Israel, Columbia, Gaza, America, UPenn, New Jerusalem, Jerusalem, Palestine, Washington , DC

☆ Americans ran up $105 billion in credit card interest last year alone
▼ + stars: | 2023-10-25 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Danielle Foskie is among a growing number of Americans who have stumbled into a credit card doom loop. She turrned to credit cards to get by, eventually racking up $60,000 in credit card debt. Americans were hit with $105 billion in credit card interest last year alone, according to the CFPB’s biennial consumer credit card report. As signs of consumer stress emerge, the credit card industry continues to perform well financially. The report also warned of an “apparent lack of competition” on credit card rates.

Persons: Danielle Foskie, I’ve, ” Foskie, She’s, Renee Barrett, ” Barrett, Barrett, “, ”, Rohit Chopra Organizations: New, New York CNN, CNN, Financial, “, New York Fed Locations: New York, Cleveland , Ohio, United States, Bronx, Covid

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