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☆ Kevin Hart Receives the Mark Twain Prize for American Humor
▼ + stars: | 2024-03-25 | by ( Aishvarya Kavi | ) www.nytimes.com time to read: +1 min

Kevin Hart stepped into the spotlight on Sunday night with his usual swagger to accept the Mark Twain Prize for American Humor, occupying a stage lit up with his signature pyrotechnics. “Can I pee?” Mr. Hart said after a heartfelt tribute from his friend the comedian Dave Chappelle, before waddling offstage at the John Kennedy F. Center for the Performing Arts in Washington. He then reappeared to accept a bust of Mark Twain from David M. Rubenstein, the retiring chairman of the Kennedy Center. Mr. Hart, 44, is the 25th comic to receive the prize from the Kennedy Center, an honor given annually to the greatest humorists in American comedy. Mr. Hart was joined by his wife and four children, and grinned broadly even as he teared up at bitingly funny roasts and emotional tributes from friends and colleagues in the industry.

Persons: Kevin Hart, Twain, Mr, Hart, Dave Chappelle, John Kennedy F, Mark Twain, David M, Rubenstein, “, Chris Rock, ” Mr, Chappelle, ” Organizations: Performing Arts, Kennedy, Mr, Kennedy Center Locations: Washington, Philadelphia

☆ Peter G. Angelos, Owner of the Baltimore Orioles, Dies at 94
▼ + stars: | 2024-03-23 | by ( Emmett Lindner | ) www.nytimes.com time to read: 1 min

Peter G. Angelos, the longtime owner of the Baltimore Orioles who built a fortune as a class-action lawyer, died on Saturday. His death was confirmed in a statement from his family that was posted on the team’s social media account, which said that Mr. Angelos had “passed away quietly.” No cause was given, though the statement acknowledged that he had been ill for several years. Mr. Angelos’s death came as his family awaited approval by Major League Baseball owners to sell the team — valued, along with its assets, at $1.725 billion, according to The Baltimore Sun — to David Rubenstein, the president of Inner Harbor Sports. The sale was approved on March 20 by the Maryland Stadium Authority board, which was required under the terms of the team’s lease for ownership to be transferred.

Persons: Peter G, Angelos, Mr, “, Angelos’s, Baltimore Sun —, David Rubenstein Organizations: Baltimore Orioles, Major League Baseball, Baltimore Sun, Inner Harbor Sports, Maryland Stadium Authority

☆ Carlyle billionaire David Rubenstein is buying MLB's Baltimore Orioles: reports
▼ + stars: | 2024-01-31 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Carlyle Group cofounder David Rubenstein is fronting a group buying the Baltimore Orioles, reports say. Fellow private equity billionaire Michael Arougheti is also expected to be involved in the deal. AdvertisementFamed private equity investor David Rubenstein is reportedly planning to buy the Baltimore Orioles. Puck broke the news Tuesday that the Carlyle Group cofounder and Baltimore native is fronting a group expected to take a 40% stake in the Major League Baseball franchise. AdvertisementThe Orioles are owned by the Angelos family, who bought the MLB franchise in 1993.

Persons: David Rubenstein, Angelos, Puck, Michael Arougheti, —, Cal Ripken, Jr, Rubenstein, he'll, Peter Angelos, John, Carlyle, Josh Harris Organizations: Carlyle, Baltimore Orioles, Major League Baseball, Service, Carlyle Group, Baltimore, Ares Management, Orioles, MLB, Financial, National Basketball Association, Apollo Global, National Football League's

Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, according to a person with knowledge of the deal. The person spoke to The Associated Press on condition of anonymity Tuesday night because the agreement had not been announced. Rubenstein, a Baltimore native, will take over as the team's controlling owner, and he's assembled an investment team that includes Ares co-founder Michael Arougheti. The Angelos family has been in control of the Orioles since 1993, when Peter Angelos purchased the team for $173 million. The team recently reached a deal on a new lease extension at Camden Yards.

Persons: David Rubenstein, Rubenstein, he's, Michael Arougheti, Angelos, Peter Angelos, John, Carlyle, Jimmy Carter Organizations: Group Inc, Baltimore Orioles, Associated Press, Orioles, Camden, Duke, University of Chicago Law School Locations: Baltimore, Camden Yards . Maryland, Washington

☆ Baltimore Orioles agree to be sold to a group led by David Rubenstein for $1.7 billion
▼ + stars: | 2024-01-30 | by ( Matt Egan | David Goldman | ) edition.cnn.com time to read: +2 min

The Orioles have been mediocre — or straight-up awful — throughout most of Angelos’ ownership. The new owner, Rubenstein, is a Baltimore native and co-founder of The Carlyle Group, a Washington, DC-based private equity giant. If the sale is approved, Rubenstein will become the controlling partner in the ownership group, the key decision-maker. After the 94-year-old Angelos dies, the Rubenstein group will own all 100% of the club. The Orioles’ $1.7 billion valuation is nearly triple what the team was worth in 2014, according to Forbes.

Persons: Peter Angelos, David Rubenstein, Angelos, Hall, Cal Ripken, Jr, Rubenstein, Angelos ’, Michael Arougheti Organizations: CNN, Baltimore Orioles, Orioles, Major League Baseball, Baltimore, Hall of Famer, American League East, AL, The Carlyle Group, longtime Orioles, Ripken, Ares Management, Forbes, Milwaukee Brewers, Colorado Rockies Locations: Baltimore, Washington, DC

☆ Africa's richest person just opened a $19 billion oil refinery to help Nigeria reduce fuel imports
▼ + stars: | 2024-01-21 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Read previewAfrica's richest person has opened one of the world's largest oil refineries in Nigeria. Aliko Dangote, the billionaire founder and chairman of the multinational conglomerate the Dangote Group, opened the Dangote Petroleum Refinery in a bid to help make Nigeria self-sufficient in fuel. This story is available exclusively to Business Insider subscribers. The $19 billion refinery, in the coastal city of Lekki, near Lagos, has suffered years of delays and setbacks, but it finally began production last week. This is something that the new Dangote refinery aims to change by eventually producing up to 650,000 barrels a day.

Persons: —, Aliko Dangote, Pius Utomi Ekpei, David Rubenstein, Dangote, Rafiq Raji, Raji, John Moore, Alhassan, Forbes, Rubenstein, Bill Gates, Gates, Aliko, Melinda Gates Organizations: Service, Dangote, Petroleum Refinery, Business, Dangote Petroleum, Center for Strategic, Studies, Africa, Bloomberg Global Business, West Africa's, Al, Azhar University, Dangote Cement, Bloomberg, Melinda Gates Foundation, English Premier League soccer, Arsenal Locations: Nigeria, Lekki, Lagos, AFP, New York, Nigerian, West, Egypt, Africa

☆ Falling Domestic Fares and an A.I. Arms Race: What Travelers Can Expect in 2024
▼ + stars: | 2024-01-18 | by ( Christine Chung | ) www.nytimes.com time to read: +21 min

Arms Race: What Travelers Can Expect in 2024 At the start of what promises to be a very busy year, we look ahead at what you’re likely to encounter. With 2023 in the rearview mirror, we look ahead at what travelers will face in 2024. At United Airlines, for example, smarter software can offer rebooking options and issue food and lodging vouchers when a flight is canceled, rather than just rebooking a flight. United Airlines has suspended its flights indefinitely, said Josh Freed, a United spokesman. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies.

Persons: Chanelle, Hayley Berg, ” Ms, Berg, “, Robert W, Mann Jr, ”, Chad Burt, Oren Etzioni, Gilbert Ott, Hopper, Greg Forbes, Delta’s, Neville Pattinson, Mr, Pattinson, biometrics, Laura Lindsay, Joshua Smith, Smith, Laurel Brunvoll, Michael Zeiler, Airbnb, We’ve, Jamie Lane, ‘, ’ ”, Jan Freitag, “ We’ve, David Whiteside, Brian Kelly, Guy, Leigh Rowan, “ There’s, Kelly, Rowan, ” Mr, James Thornton, Sharm el Sheikh, Khaled Ibrahim, Harry Rubenstein, Rubenstein, Eyal Carlin, Josh Freed, Jack Ezon, Tom Marchant, Beth McGroarty Organizations: World Tourism Organization, International Air Transport Association, Analysts, Express Global, ”, airfare, University of Washington, United Airlines, Transportation, Administration, Salt Lake, International Airport, Denver International Airport, Delta Air Lines, U.S . Customs, Border Protection, La Guardia Airport, Los Angeles International Airport, biometrics, Thales, Air, American Airlines, Global, “, —, MidX Studios, LivSmart Studios, Hilton, Hyatt Studios, Accor Hotels, Boston University, Visa, Mastercard, Walmart, Target, Savanti, Chase, Intrepid Travel, Amisol Travel, East Travel Alliance, United, Consumers, Ki’ama, Wellness, Global Wellness Institute Locations: United States, Point.me, Salt, North America, London, Rome, Tokyo, Cancún, Las Vegas, Cayman Islands, Polynesia, Europe, Norway, Denmark, Air Canada, Bergen, Flam, Scandinavia, Italy, France, Malta, Slovenia, Maryland, Spain, Portugal, Britain, Egypt, India, Mexico ; Cape Girardeau, Mo, Niagara Falls, N.Y . Texas, Burnet, Sulphur Springs, New York, Vienna, Marriott, Israel, Jordan, Oman, Oman —, Tunisia, Northern Africa, Sharm, Cairo, Amisol Travel Egypt, Jerusalem, Tel Aviv, Ramle, Kimberley, Western Australia, Mitre, Patagonia, Ki’ama Bahamas, Bahamas, South Africa, Hudson, Tuxedo Park, N.Y, Malibu , Calif, Mexico

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

☆ 16 VCs that are funding the future of entertainment by backing generative AI and other disruptive tech
▼ + stars: | 2024-01-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +17 min

AdvertisementAfter a period of "wild west" investing in AI, Blank believes activity will favor AI companies that respect artists' consent and compensation. It recently co-led a $1 million seed round in Conduiit, which centralizes entertainment companies' production finance operations. Endeavor Venture InvestmentsEndeavor Venture Investments is the venture arm of entertainment and sports behemoth Endeavor. SWaN & LegendThe Virginia-based VC firm has a broad consumer portfolio that includes a number of entertainment investments. With Hollywood in contraction, SWaN has largely hit pause on new entertainment investments to get its portfolio companies on a strong footing.

Persons: Michael Blank, Blank, Jon Miller, Miller, Slack, Garnet Heraman, BDMI, Urs Cete, Michael, TMRW, Tiger Woods, Rory McIlroy, Elysian Park Ventures Jay Adya, Grant Lamos, Tom Brady, Gotham Chopra, Michael Strahan, Jay Adya, Morgan, Kushaan Ahuja, Drew Glover, Glover, Alex Harris, they've, Noah Doyle, Payback India, Jed Katz, Rich Greenfield, Rich, Ilya Pozin, Jamie Seltzer, LightShed, Steve Cohen's, it's, Sri Chandrasekar, Tripp Shriner, Ishan Sinha, That's, Wondery, Ian Doody, Raine, Gordon Rubenstein, Joe Ravitch, Jeff Sine, ‐, Fred Schaufeld, SWaN, that's, Oscar, Jose, Schaufeld, Sam Wick, Alex J, Investcorp, Paul Yoo, Edgar Bronfman Jr, Daniel Leff, Waverley, Leff Organizations: Service, Creative Artists, Connect Ventures, Business, Hollywood, Veteran, TPG, Integrated Media Co, Advancit, CAA, Bertelsmann, Waverley, Octopus Ventures, Accel, Facebook, Venture, Aperture Venture, Bertelsmann Digital Media Investments, Fremantle, Connect, CAA Connect Ventures, New Enterprises Associates, TMRW Sports, Disney, Universal, Elysian Park Ventures, Elysian, Sports, Endeavor Venture, Endeavor Venture Investments, behemoth Endeavor, Dapper Labs, Fiat Ventures, Fiat Ventures Fiat Ventures, Fiat, Payback, Rent, LightShed, Rich Greenfield Influential, LightShed Ventures, Pluto, Apple, Octopus Ventures Octopus Ventures, Investments, Corp, Etsy, Re, Point72 Ventures New York Mets, Range Media Partners, Point72 Ventures, Sri, Powerhouse, Athletic, The New York Times Co, Evolution Media, Creative Artists Agency, Astro, Rave Digital Media, Accel Entertainment, Jose Andrés Media, Berliner, UTA Talent, UTA, UTA Ventures, Ventures, VR, Amazon, PFL Locations: blockchain, —, Conduiit, fintech, London, Australia, Papercup, Los Angeles, Virginia, UTA.VC

☆ With Washington Capitals, Wizards move to Virginia, owner Ted Leonsis pursues his vision of a $10 billion sports empire around Washington, D.C.
▼ + stars: | 2023-12-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +8 min

Glenn Youngkin (L) looks on during the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, on December 13, 2023 Virginia. Win Mcnamee | Getty Images News | Getty ImagesTed Leonsis, the owner of the NBA's Washington Wizards and the NHL's Washington Capitals, has a grand vision for growing a regional sports empire. Glenn Youngkin announced that the Capitals and Wizards have agreed to move to a new arena in Alexandria, Virginia, as part of a $2 billion entertainment complex in 2028. How will they compete with big market teams? "We could have a billion-and-a-half-dollar revenue run rate and a $10 billion to $15 billion trend of valuation," Leonsis said.

Persons: Ted Leonsis, Glenn Youngkin, Win Mcnamee, Leonsis, we'll, aren't, I'm, it's, It's, David Rubenstein, David Blitzer, Blackstone, James Dolan, Stan Kroenke, Kroenke, I've Organizations: Monumental Sports, Entertainment, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Washington Wizards, NHL's Washington Capitals, CNBC, Summit, Washington , D.C, AOL, Capitals, Wizards, Washington Mystics, Capital, D.C, Sports, Mystics, NHL, Baltimore Orioles, Washington Nationals, MLB, Carlyle Group, Bloomberg, Orioles, Red Sox, Fenway Sports Group, Boston Red Sox, Pittsburgh Penguins, Premier League's Liverpool, Philadelphia 76ers, New, New Jersey Devils, Washington, Cleveland Guardians, MSG, Sphere Entertainment, Madison Square Garden Entertainment, New York Knicks, Rangers, MSG Networks, Atlanta Braves Holdings, Liberty Media, Sports & Entertainment, Nuggets, Avalanche, Los Angeles Rams, Premier League's Arsenal FC, Qatar Investment Authority, MSG Sports, NHL's Rangers, NBA's Knicks, Phoenix Suns, NBA, Ottawa Senators, Braves Locations: Virginia, Alexandria , Virginia, Washington ,, Washington, London, Richmond, Delaware, New Jersey, Real Salt Lake, Denver, MLS's Rapids, Colorado, Monumental

☆ Here's what it would take for the Fed to start slashing interest rates in 2024
▼ + stars: | 2023-11-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"In a different cycle, when inflation hadn't spiked so much, I think the Fed would have been cutting rates already. "If the real fed funds rate continues to go higher as I expect it will, then you'd want to offset that through rate cuts. And the amount of rate cuts I think they're going to have to do is a relatively large amount." "I think there's a real risk of a hard landing if the Fed doesn't start cutting rates pretty soon," the head of Pershing Square Capital Management added. However, even some of the historically more dovish Fed officials aren't showing their hands on when they think cuts will come.

Persons: Valerie Plesch, Kathy Jones, Charles Schwab, Christopher Waller, Michelle Bowman, Waller, Bowman, Joseph LaVorgna, Donald Trump, Chris Marangi, Bill Ackman, Ackman, David Rubenstein, Raphael Bostic, Thomas Barkin Organizations: Eccles Federal, Bloomberg, Getty, Federal Reserve, Fed, Nikko Securities America, National Economic Council, CME Group, Stocks, Gabelli, Market, Pershing, Capital Management, Atlanta Federal Reserve, Richmond Locations: Washington , DC, Atlanta

☆ Bill Ackman says the US economy faces a real risk of a 'hard landing' if the Fed doesn't cut interest rates soon
▼ + stars: | 2023-11-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Bill Ackman said in a Bloomberg podcast he expects the US Federal Reserve to cut rates soon. He said the US economy risks a sharp downturn if the Fed doesn't cut interest rates soon. AdvertisementBill Ackman expects the US Federal Reserve to cut rates as early as the first quarter of next year. The Fed needs to cut interest rates soon to avoid a sharp downturn in the US economy, the billionaire investor said on Bloomberg's "The David Rubenstein Show: Peer-to-Peer Conversations." The Fed has raised interest rates 11 times since March 2022 in an effort to cool soaring inflation.

Persons: Bill Ackman, —, David Rubenstein, That's, Ackman, Rubenstein, There's Organizations: Bloomberg, US Federal Reserve, Service, Carlyle Group, Deutsche Bank, European Central Bank, UBS Locations: Israel, Swiss

(AP) — It wasn’t all work and no play for President Joe Biden on Friday on this picturesque Massachusetts island. Because of the remarks on hostages, the traditional family lunch happened later than usual. Finally, the Bidens ended up at Nantucket’s annual Christmas tree lighting ceremony, clapping as the town crier led the countdown and the tree was illuminated with colored lights. Leaning against metal barricades and waving banners that said “Free Palestine,” the protesters chanted: “Biden, Biden, you can’t hide. A local official urged the protesters to stop, noting that the community event was not a political one.

Persons: Joe Biden, Biden, it’s, Jill Biden, Ashley, Can’t, “ We’ve, Heather Cox Richardson, “, crier, “ Biden, –, Joe, Jill, Beau, Hunter, they’ve, David Rubenstein Organizations: Biden, Nantucket, of, Nantucket Books, White, Palestine Locations: NANTUCKET, Massachusetts, Gaza, Craftmasters, Nantucket, Palestine

☆ Biden shares pies for Thanksgiving, expresses hope about hostage release
▼ + stars: | 2023-11-23 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

[1/3] U.S. President Joe Biden greets Nantucket Fire Department Chief Cranson alongside First Lady Jill Biden, at the Nantucket Fire Department in Nantucket, Massachusetts, U.S, November 23, 2023. REUTERS/Tom Brenner Acquire Licensing RightsNANTUCKET, Mass., Nov 23 (Reuters) - President Joe Biden delivered pumpkin pies to firefighters on Thursday to celebrate the U.S. Thanksgiving holiday and expressed hope about a pending hostage release in the war between Israel and the Palestinian Islamist group Hamas. Biden, who is vacationing with his family on the Massachusetts island of Nantucket, has spent part of his time here speaking to foreign leaders about the war. Biden has a decades-long family tradition of coming to Nantucket for the Thanksgiving holiday. In earlier remarks on NBC, Biden urged people to focus on solving problems together and stopping rancor in U.S. society.

Persons: Joe Biden, Cranson, Lady Jill Biden, Tom Brenner, Biden, Jill Biden, David Rubenstein, ", Donald Trump, Evan Gershkovich, Paul Whelan, Jeff Mason, Jonathan Oatis Organizations: Nantucket Fire Department, REUTERS, Rights, U.S, Hamas, NBC, Democrat, Republican, Thomson Locations: Nantucket, Nantucket , Massachusetts, U.S, Rights NANTUCKET, Israel, Palestinian, Massachusetts, Qatar, Russia

☆ A Biden Thanksgiving: Sweeping Views of Nantucket Harbor, Calls About Israel
▼ + stars: | 2023-11-22 | by ( Lisa Friedman | ) www.nytimes.com time to read: +1 min

Mr. Biden and Jill Biden, the first lady, arrived on the exclusive island off the coast of Massachusetts late Tuesday for their traditional Thanksgiving week visit. The home of Mr. Rubenstein, a co-founder of the Carlyle Group, a private equity firm, is on 13 acres of beachfront property with sweeping views of Nantucket Harbor. Many locals also pointed out that Mr. Biden has been coming to the island for some 40 years, and that this is his third visit as president. OK, cool,’” said Suzanne Bennett, who manages Nantucket Bookworks, a local bookshop where Mr. Biden has popped in on previous walks in town. Ms. Bennett said she hadn’t done much of anything to prepare for this year’s likely Biden family visit, and described the morning routine as business as usual.

Persons: Biden, Mr, Jill Biden, David Rubenstein, Rubenstein, They’re, ”, Suzanne Bennett, Bennett Organizations: Carlyle Group, Secret Service, White House Locations: blustery, Nantucket, Massachusetts, Nantucket Harbor

There's a history of Christmas pudding charms, to be hidden within the holiday treat. And there's an angel made of beads by an artisan in the Woza Moya collective of South Africa. The photographer behind the Instagram account Brown Girls Do Ballet has put together a celebratory essay in images of just that. More than 1,100 color images included in this broad overview, Glaser’s wit ever-present. Includes rarely seen images and recollections from Salt-N-Pepa, Public Enemy, Run-D.M.C., Mary J. Blige and more.

Persons: Slim Aarons, Shawn Waldron, Abrams, “, David Trigg, Sam Bilton, Dolph Gotelli, Moya, “ Lena Horne, Donald Bogle, Bogle, TaKiyah Wallace, McMillian, Kailyn Scales, Leventhal, Dutton, Chef Gabriel “, Kim Laidlaw, Guilbeau, Taylor Sheridan, John, Kayce, Beth, Hal Rubenstein, Mary Tyler Moore's, Laura Petrie, Dick Van Dyke, ” Moore, Rubenstein, Dawn Wells, Mary Ann, Molly Adams, Sydney Golden Anderson, Adams, Golden Anderson, “ Thom Browne, ”, Thom Browne, Andrew Bolton, Johnny Dufort, Browne's, Karida L, Brown, Charly Palmer, W.E.B, Du Bois, They've, Langston Hughes, Jenni Nuttall, Mark Seliger, Seliger, Joe Jonas, Sophie Turner, Chadwick, Will Smith, Jada Pinkett Smith, Robert De Niro, ” Abrams, Lindsey Taylor, Taylor, “ Milton Glaser, Steven Heller, Mirko Ilić, Beth Kleber, Glaser, Glaser busied, “ LL, LL Cool, Vikki Tobak, Alec Banks, Mary J, Blige, Peep Ludacris Organizations: Hollywood, Getty Images, Phaidon, Running Press, CBS, HarperCollins, Sydney, Feminist Bird, National Wildlife Federation, Princeton Architectural Press, Families, Chronicle, Exeter College, “, Wall, Rizzoli New Locations: Palm Beach, Rome, tailgaters, Aiken , South Carolina, South Africa, Brooklyn, Louisiana, Bolton, New York, Rizzoli New York

☆ Citigroup begins layoffs as part of CEO Jane Fraser’s corporate overhaul
▼ + stars: | 2023-11-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup will soon begin layoffs in CEO Jane Fraser's corporate overhaul, CNBC has learned. Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives. Fraser is under pressure to improve Citigroup, which has been mired in a stock slump as headcount and expenses have ballooned in recent years.

Persons: Jane Fraser, David Rubenstein, Jane, Fraser, We've Organizations: Citigroup Inc, Economic, of Washington, Washington , D.C, Citigroup, CNBC, Employees, Workers, CNBC PRO Locations: Washington ,

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

☆ Israeli billionaire blasts Harvard leadership and quits board in protest
▼ + stars: | 2023-10-13 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Israeli billionaire Idan Ofer and his wife Batia are quitting a Harvard executive board in protest of how university leaders have responded to Hamas’ terror attacks on Israel. Idan Ofer has amassed a fortune valued at nearly $20 billion, according to Bloomberg’s billionaire index, where the Israeli ranks No. Instead, the resignation was driven by how Harvard leaders responded to the attacks on Israel, the source said. Idan Ofer is a son of shipping billionaire Sammy Ofer, who was once Israel’s richest man and died in 2011, according to Forbes. President of Harvard University Claudine Gay Brian Snyder/ReutersHarvard did not comment on the resignation and criticism from the Ofers.

Persons: Idan Ofer, Batia, “, Israel, ”, David Rubenstein, Sammy Ofer, Harvard University Claudine Gay Brian Snyder, Claudine Gay, ” Gay, Gay, Harvard “, Bill Ackman, That’s Organizations: New, New York CNN, Harvard, CNN, Harvard’s Kennedy School of Government, Kennedy, Forbes, Israel Corp, Kenon Holdings, Harvard University, Reuters Harvard, University, “ Locations: New York, Israel, Harvard’s

☆ The inflation threat isn't over yet – and the Fed won't ease up in fighting it overnight, the co-chief investor of the world's largest hedge fund says
▼ + stars: | 2023-09-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The inflation threat isn't over and interest rates won't sink overnight, Bridgewater's co-CIO says. Karen Karniol-Tambour sees little reason for rate cuts with a strong economy and sticky inflation. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Indeed, the Fed may realize that inflation isn't fading, and markets are pricing in rate cuts that it's uncomfortable making, Karniol-Tambour said. Even so, bond investors are pricing in a "pretty good number of rate cuts" starting next year, Karniol-Tambour said.

Persons: Bridgewater's, Karen Karniol, Tambour, David Rubenstein, Jerome Powell, Ray Dalio, Nir Bar Dea, CIOs, Greg Jensen, Bob Prince Organizations: Service, Bridgewater Associates, Bloomberg Locations: Wall, Silicon

☆ Citigroup CEO Jane Fraser pushes biggest overhaul in almost two decades
▼ + stars: | 2023-09-13 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +3 min

Citigroup CEO Jane Fraser testifies during a U.S. House Financial Services Committee hearing titled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks” on Capitol Hill in Washington, U.S., September 21, 2022. The bank is also planning to list its Mexican consumer unit, known as Banamex, after a sale process fell through. Scottish-born Fraser is the first woman to lead a Wall Street bank. She spoke in March about her life and career in a wide-ranging interview with Carlyle Group (CG.O) Co-Founder David Rubenstein. Reporting by Tatiana Bautzer; writing by Michelle Price; editing by Lananh Nguyen and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jane Fraser, Elizabeth Frantz, Jane Fraser's, we've, Fraser, Michael Corbat's, Sandy Weill, David Rubenstein, Goldman Sachs, Smith Barney, Tatiana Bautzer, Michelle Price, Lananh Nguyen, Josie Kao Organizations: Citigroup, . House Financial, REUTERS, Citi, JPMorgan Chase &, Bank of America, Banks, Carlyle Group, Cambridge University, Harvard Business School, McKinsey, Thomson Locations: Washington , U.S, U.S, New York, Scottish, Mexico

☆ Fed isn't itching to lower interest rates right now, says Carlyle's David Rubenstein
▼ + stars: | 2023-09-12 | 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 EmailFed isn't itching to lower interest rates right now, says Carlyle's David RubensteinDavid Rubenstein, Carlyle Group co-founder, joins 'Squawk on the Street' to discuss his expectations on the Fed rate cuts and his economic outlook.

Persons: Carlyle's David Rubenstein David Rubenstein Organizations: Carlyle Group

☆ Why Does Duke Have So Few Low-Income Students?
▼ + stars: | 2023-09-07 | by ( David Leonhardt | Graphics Ashley Wu | ) www.nytimes.com time to read: +31 min

Duke students, she thought, seemed more well rounded than students on some other campuses. I think it was me being a little bit naïve.” Other Duke students who identify as F.G.L.I. At Duke — as well as elite colleges that admit more low-income students — their graduation rate tends to be similar to the overall graduation rate. Over the past decade, as other elite colleges paid more attention to low-income students, they wooed some who once might have attended Duke. “Duke students are really oriented to the world,” she said.

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☆ Bosses are tracking how long you're working — and using it to judge your performance. It's a terrible way to get the best out of workers.
▼ + stars: | 2023-09-07 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Many companies with remote or hybrid workforces use tracking software to monitor their workers. An MIT lecturer said tracking hours wasn't a good productivity measure. As office attendance and productivity tracking become increasingly common, more companies are using it to evaluate, discipline, and even fire employees. About three-quarters of respondents in the ResumeBuilder.com survey said they had fired employees based on findings from their tracking software. But if US companies are truly concerned about maximizing their employees' productivity, some of them may be doing it all wrong.

Persons: —, they're, Slack, Aaron Terrazas, Terrazas, Robert C, Pozen, Paul Rubenstein, Rubenstein, Stacie Haller Organizations: MIT, Service, Tech, Meta, Employees, MIT Sloan School of Management Locations: Wall, Silicon

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