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☆ OpenAI strikes deals with more major news publishers, posing a threat to Google's dominance
▼ + stars: | 2024-03-16 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

The ChatGPT maker announced this week it had struck partnerships with two major European media organizations: France's Le Monde and Spain's Prisa Media. This story is available exclusively to Business Insider subscribers. This is a "threat" to GooglePublishers who've signed agreements with OpenAI say they hope the partnerships will bring new life to their business. By wooing users with a better interface, OpenAI could threaten Google's dominance over online search, Zaman said. OpenAI did not immediately respond to a request for comment from Business Insider.

Persons: —, OpenAI, Brad Lightcap, Axel Springer, Roger Lynch, Condé Nast, Google Publishers who've, Le Monde, Tauhid Zaman, Zaman, Hugh Martin Organizations: Service, Prisa, Business, Politico, CNN, Fox Corp, Bloomberg, ChatGPT, Yorker, Wired, The New York Times, Microsoft, Google Publishers, Google, Facebook, Media, Yale School of Management, Publishers, Scripps School of Journalism, Ohio University Locations: OpenAI

☆ A growing number of colleges are rolling out 'no-loan' policies. ‘They are giving them out like candy,’ Yale professor says
▼ + stars: | 2024-02-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Roughly two dozen schools have introduced "no-loan" policies, which means they are eliminating student loans altogether from their financial aid packages. "They are giving them out like candy now," said Menaka Hampole, an assistant professor of finance at Yale School of Management, of the growing number of no-loan policies. "Post-Covid more schools are rolling out no-loan policies mostly on the back of Princeton, which had the money in its endowment to do something," Hampole said. Even if a school has a no-loan policy, that also does not prevent a student or family from borrowing money to help cover their contribution. "No loan doesn't mean free," said Robert Franek, The Princeton Review's editor in chief and author of "The Best 389 Colleges."

Persons: Menaka Hampole, Hampole, Colin Hatton, Hatton, Robert Franek, Nicole Hurd, Hurd, Biden, Terra Gallo, Gallo, Colby, Jackie Hardwick, Hardwick, Randi Maloney, Franek Organizations: Yale School of Management, Princeton, Nationwide, Lafayette College, Finance, Colby College, Colby, The Princeton Locations: Easton , Pennsylvania, Lafayette, Waterville , Maine, Jacksonville , Florida

☆ Tackling the tax gap: IRS cracks down on wealthy
▼ + stars: | 2024-02-22 | 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 EmailTackling the tax gap: IRS cracks down on wealthyNatasha Sarin, Yale Law School and Yale School of Management professor and former Treasury Department official, and Alex Brill, American Enterprise Institute senior fellow and former House Ways and Means Committee policy director and chief economist, join 'Squawk Box' to discuss the IRS' plans for 'dozens of new audits' of corporate jet usage as part of its increased scrutiny of large corporations, complex partnerships and top earners, the best ways to tackle the tax gap, and more.

Persons: Natasha, Alex Brill Organizations: Yale Law School, Yale School of Management, Treasury Department, American Enterprise Institute senior

☆ Here are some strategies to maximize your financial aid for college
▼ + stars: | 2024-02-22 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Apply for financial aidIn ordinary years, high school graduates miss out on billions in federal grants because they don't apply for financial aid. Because this year's award letters are likely to look a lot different, that also opens the door for families to ask for more college aid. In that case, you may be able to appeal to the college financial aid office, according to Menaka Hampole, assistant professor of finance at the Yale School of Management. Alternatively, if the financial aid packages from other, comparable schools were better, that is also worth bringing to the school's attention in an appeal. "It's very important for students and families to know that financial aid offices tend to be very approachable," Greenberg said.

Persons: haven't, Rick Castellano, Sallie Mae, Greenberg, Menaka Hampole Organizations: U.S . Department of Education, National College, College, Network, Yale School of Management

☆ Steep rate cuts are coming as the job market looks poised to weaken, Wells Fargo strategist says
▼ + stars: | 2024-02-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewSteep rate cuts from the Federal Reserve could be coming later this year thanks to weakening in the job market, which likely isn't as robust as some of the latest data has made it out to be, according to Wells Fargo strategist Erik Nelson. Advertisement"We need a catalyst, we need some data that shows these recent, strong data were just a blip. But much of that strength may be seasonal and no longer reflected in upcoming job reports, Nelson said. Other market commentators have warned that hiring activity could weaken in 2024 as tighter financial conditions take a toll on businesses. Though the jobless rate is low, continuing unemployment claims are hovering around 1.9 million, according to Fed data.

Persons: —, Wells, Erik Nelson, Nelson, Paul Dietrich Organizations: Service, Federal, Bloomberg, Business, Fed, New York Fed, Yale School of Management

☆ Russia's economic decline is in only in the early stages, and the country is masking significant 'degradation,' think tank says
▼ + stars: | 2024-02-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's economic decline is still in the early stages, according to a London-based think tank. But talk of Russia's economic resilience is misguided, and there are deep-rooted issues that will continue to plague its economy, the think tank said. AdvertisementRussia's robust military spending has been a key factor in propping up its economic growth so far. "Significantly greater isolation and economic degradation is baked into the cake for the Russian economy and people." Russian inflation grew 7.2% year-per-year in January, well above the nation's 4% inflation target.

Persons: —, Mark Sobel, Sobel, Brent, that's Organizations: Service, Official Monetary, Financial, International Monetary Fund, Bloomberg, Yale School of Management . Companies Locations: London, Ukraine, Russia, Oilprice.com, Moscow

☆ Boeing CEO Dave Calhoun needs to reorient the company culture to what it once was: Gautam Mukunda
▼ + stars: | 2024-02-01 | 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 EmailBoeing CEO Dave Calhoun needs to reorient the company culture to what it once was: Gautam MukundaGautam Mukunda, lecturer in the practice of management at the Yale School of Management, joins 'Squawk Box' to discuss Boeing's quality control issues, Boeing CEO Dave Calhoun's leadership in navigating the current crisis, Elon Musk's pay package at Tesla, and more.

Persons: Dave Calhoun, Gautam Mukunda Gautam Mukunda, Dave Calhoun's, Elon Organizations: Yale School of Management, Boeing, Tesla

☆ A change to this one clause could be the most important part of the Fed meeting
▼ + stars: | 2024-01-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"We heard at the December meeting that no official expected to raise rates further as a baseline outcome. And we've heard that Fed officials are beginning the discussions around rate cuts," Matthew Luzzetti, Deutsche Bank's chief U.S. economist, said in an interview. Now, there's considerably more uncertainty as multiple statements from Fed officials point to a more cautious approach about declaring victory over inflation. The inflation rate judged by core personal consumption expenditures prices, a U.S. Department of Commerce measure that the Fed favors, indicates the real funds rate to be around 2.4%. Fed officials figure the long-run real rate to be closer to 0.5%.

Persons: Jerome Powell, Liu Jie, we've, Matthew Luzzetti, Luzzetti, He'll, Bill English Organizations: Federal, Washington , D.C, Xinhua News Agency, Getty, Federal Reserve, Deutsche Bank, Bank's, Fed, U.S . Department of Commerce, Yale School of Management Locations: Washington ,

☆ Wall Street opposition to Trump collapses, as 'pipe dream' of primary defeat ends
▼ + stars: | 2024-01-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +8 min

"A lot of people on Wall Street have been living in this pipe dream of Trump not getting the nomination. "It's painful for me to admit this, but Wall Street is basically nonchalant to this election," longtime Wall Street executive and former Trump communications director Anthony Scaramucci said in a recent interview with The Hill. An outside effort "will not work against Trump," one of DeSantis' Wall Street fundraisers said. "The next question is, 'will Wall Street work to stop him in the general by supporting Biden?'" In 2020, Wall Street executives combined to donate over $74 million to helping Biden defeat Trump.

Persons: Donald Trump, Jamie Dimon, Andrew Harrer, Joe Biden, Trump, Biden, Anthony Scaramucci, Jeffrey Sonnenfeld, Sonnenfeld, Wall, Ron DeSantis, Nikki Haley, DeSantis, Donald Trump , Jr, Woody Johnson, Haley, Trump's, Ken Langone, Langone, Marco Bello, Jeffrey Yass, Charles Myers, Dimon Organizations: JPMorgan Chase &, White, Bloomberg, Getty, Republican, Wall Street, Democratic, Trump, Yale School of Management, Florida Gov, U.N, Street, Jets, Biden, New, Granite State, Big Apple, CNBC, Financial Times, U.S, United, Reuters, Republicans, Susquehanna International Group, JPMorgan, NATO, Economic Locations: Washington, Wall, New Hampshire, South Carolina, Iowa, New York, Granite, West Des Moines , Iowa, U.S, Yass, China

☆ The major companies still advertising on X despite Elon Musk’s antisemitic endorsement
▼ + stars: | 2023-11-22 | by ( Oliver Darcy | Liam Reilly | ) edition.cnn.com time to read: +5 min

But those assurances have rung hollow as advertisements have continued to be placed on accounts posting hate speech and conspiracy theories. “Elon introduced unique risks,” marketing industry veteran Lou Paskalis, the founder and chief executive of marketing consultancy AJL Advisory, told CNN. “It’s self-destructive for any advertiser to be associated with him,” Sonnenfeld told CNN. His endorsement of the post came as the progressive watchdog Media Matters issued a report that indicated advertisements for major brands appeared next to neo-Nazi hate speech on X. Legal experts have told CNN that the lawsuit is deeply flawed and could open the billionaire up to embarrassing revelations during the discovery process.

Persons: Elon Musk’s, Brian McCarthy, Musk, George Soros —, X, “ Elon, Lou Paskalis, ” Jeffrey Sonnenfeld, ” Sonnenfeld, ”, Ted Boutrous, Boutrous, ” CNN’s Clare Duffy Organizations: CNN, NFL, Walmart, State, The New York Times, Washington Post, The, Mondelēz International, Ritz Crackers, Twitter, Defamation League, Apple, Disney, IBM, Paramount, Fox Sports, Paris, Warner Bros ., AJL, Yale School of Management, Media, Media Matters, Ted Boutrous CNN Locations: Wendy’s, White

☆ Sam Altman inspired a mass defection at OpenAI — something Steve Jobs never did at Apple
▼ + stars: | 2023-11-21 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Sam Altman's ouster has been so unpopular that most OpenAI workers have threatened to quit. The chaotic ouster of Sam Altman from OpenAI offers lessons around corporate stewardship and about seizing opportunity . It's a remarkable and uncommon show of support for a top dog at a company, leadership experts told Business Insider. Young, leadership expert and author of "Kissinger's Betrayal: How America Lost the Vietnam War" told BI. "Emotions and personalities play a much greater role in the small company," he said.

Persons: Sam Altman's, —, didn't, Sam Altman, It's, Satya Nadella, Altman, Jamie Dimon, Warren, Jeff Bezos, Jerry McGuire, Jeffrey Sonnenfeld, Sonnenfeld, who's, Steve Jobs, it's, Ken Frazier, Merck, Indra Nooyi, Marc Benioff, Benioff, Stephen B . Young, Young Organizations: Service, OpenAI, JPMorgan, Yale School of Management, Yale's, Leadership, Apple, PepsiCo Locations: Salesforce, Vietnam

☆ It’s ‘pathological’ for brands to advertise on Elon Musk’s X, Yale professor says
▼ + stars: | 2023-11-21 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

CNN —Brands are being “irresponsible” by continuing to advertise on Elon Musk’s X after the billionaire endorsed antisemitic views, according to Yale professor Jeffrey Sonnenfeld. It’s pathological,” Sonnenfeld, dean for leadership studies at the Yale School of Management, told CNN in a phone interview. Yaccarino under pressureThe advertiser backlash is piling even more financial pressure on X at a time when the social media platform has been struggling. “This is a perfect opportunity for the market to do what the market does best,” Minow said. Tim Calkins, a marketing professor at Northwestern University’s Kellogg School of Management, said brands don’t need to “completely agree” with a media property and its policies to advertise there.

Persons: Elon Musk’s, Jeffrey Sonnenfeld, “, Sonnenfeld, Musk, ” Musk, ”, Joe Benarroch, “ Jeffrey Sonnenfeld, Linda Yaccarino, “ Linda Yaccarino, ” Sonnenfeld, he’s, Yaccarino, Lou Paskalis, Nell Minow, ” Minow, Minow, Tim Calkins, Calkins, it’s, ” Calkins Organizations: CNN, Brands, Elon, Yale School of Management, Whites, Disney, Warner Bros . Discovery, Media, Twitter, Media Matters, Marketing, ValueEdge Advisors, Time Magazine, Northwestern University’s Kellogg School of Management

☆ The affection for Sam Altman is 'remarkable', says Yale's Jeffrey Sonnenfeld
▼ + stars: | 2023-11-21 | 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 EmailThe affection for Sam Altman is 'remarkable', says Yale's Jeffrey SonnenfeldJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Power Lunch' to discuss the latest headlines in tech.

Persons: Sam Altman, Yale's Jeffrey Sonnenfeld Jeff Sonnenfeld Organizations: Yale School of Management

☆ Sam Altman's ousting seems to have been a 'temper tantrum' by the board: Yale's Jeffrey Sonnenfeld
▼ + stars: | 2023-11-20 | 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 EmailSam Altman's ousting seems to have been a 'temper tantrum' by the board: Yale's Jeffrey SonnenfeldJeffrey Sonnenfeld, Yale School of Management, joins CNBC's Jon Fortt for a Special Report surrounding the leadership turmoil at OpenAI, Microsoft's reaction, and more.

Persons: Sam Altman's, Yale's Jeffrey Sonnenfeld Jeffrey Sonnenfeld, Jon Fortt Organizations: Yale School of Management Locations: OpenAI

In business, that meant building a fortune by hyping a drug that ultimately failed. In politics, it means arguing he can return Trump's “America First” vision to the White House without the baggage. Ramaswamy majored in biology and participated in the campus Republican club, standing out even there as a libertarian. “I believe Donald Trump was an excellent president,” Ramaswamy said while campaigning in Atlanta. While many conservatives dislike foreign aid, Republican voters align heavily with Israel.

Persons: Vivek Ramaswamy, ”, “, Ramaswamy, Ramaswamy skewered Nikki Haley, Ron DeSantis, Dick Cheney, Haley, Donald Trump, Ann Trimble Ray, Ramaswamy “, he’s, you’ve, Ray, “ Da, ” Ramaswamy, Goldman Sachs, Dan Gold, —, Intepirdine, Axovant, divesting, Jeffrey Sonnenfeld, Ramaswamy sidesteps, Trump’s, He's, Israel’s, ” Ramaswamy jousted, Tucker Carlson, Sean Hannity, Carlson, Hannity, denigrating, Trump, Putin, Xi, ” Haley, Linley Sanders, Thomas Beaumont Organizations: ATLANTA, Republican, Florida Gov, DeSantis, Harvard, Crimson, Goldman, Wall Street, QVT, GlaxoSmithKline, New York Times, Forbes, Yale School of Management, Disney, Republicans, Israel, Associated Press, NORC, for Public Research, Fox News, GOP Locations: United States, Israel, Ukraine, Ohio, , Iowa, Atlanta, American, U.S, Gaza, Iraq, Afghanistan, Washington, Des Moines , Iowa

☆ Does the Boss Need to Weigh In on the War in the Middle East?
▼ + stars: | 2023-11-08 | by ( Emma Goldberg | More About Emma Goldberg | ) www.nytimes.com time to read: +5 min

But as an American business leader condemning Hamas’s attacks, he said, he felt surprisingly lonely. “I was disappointed that fewer leaders than I anticipated spoke out emphatically, clearly and with moral clarity on this issue,” Mr. Karp said. Some business leaders made donations to humanitarian organizations and pointed their employees to company-sponsored mental health resources. “No company does business in Gaza — as opposed to, say, in Russia, where there are 1,500 major companies doing business,” he said, comparing this war with the Russian invasion of Ukraine. “The dynamics in the Middle East have always been difficult and complex,” he wrote.

Persons: Brad Karp, Paul, Weiss, Roe, Wade, George Floyd, ” Mr, Karp, ’ ”, Iliya Rybchin, Jeffrey Sonnenfeld, Sonnenfeld, “, ”, Joelle Emerson, Andrew Ward, Gabe Zichermann, Bud Light, David Solomon, Goldman Sachs, David Zaslav, ” David Barrett, We’re, Barrett Organizations: ” Company, Hamas, Fortune, Yale School of Management, Lehigh University’s College of Business, Warner Bros, ” JPMorgan Locations: Israel, American, Gaza, Russia, Ukraine, Tel Aviv

☆ ESG investing is dying on Wall Street. Here’s why
▼ + stars: | 2023-10-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —The market for environmental, social and corporate governance, or ESG, investing is fundamentally broken. “ESG investing … entering the final quarter of 2023 continues to be a story of declining flows and assets under management,” said Robert Jenkins, head of global research at Lipper. Before the Bell spoke with Jenkins about the future of ESG investing in the US and globally. What trends did you see regarding ESG investing last quarter? Before the pandemic, we had kind of a nice, natural looking growth line to ESG products.

Persons: “, ”, Robert Jenkins, Jenkins, he’ll, it’s, Bell, ESG, I’ve, we’ve, Elliott Gotkine, Jeffrey Sonnenfeld, Satya Nadella, ” Sundar Pichai, Sonnenfeld, , Susan, ” Susan, ” Richard Griffiths, Citigate Dewe Rogerson, Shawn Fain, “ We’ve, Chris Isidore, Vanessa Yurkevich Organizations: CNN Business, Bell, New York CNN, CNN, Lipper, Netflix, Yale School of Management, ”, Microsoft, Google, ” Disney, Reuters, Tottenham Hotspur Football Club, Eclipse, “, London, United Auto Workers, ’ United Auto Workers, GM, UAW Locations: New York, Ukraine, Israel, America, United States, United Kingdom, Gaza

☆ After a robust third quarter, US economic growth will likely slow. That's good for the prospect of rate cuts next year.
▼ + stars: | 2023-10-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The central bank also doesn’t have any incentive to restrict the economy through elevated interest rates if inflation is already under control. The US central bank has raised interest rates 11 times since March 2022 to their highest level in 22 years. The US Commerce Department reports new home sales in September. The US Commerce Department reports third-quarter gross domestic product along with September figures on new durable-goods orders. The US Labor Department reports the number of new applications for jobless benefits in the week ended October 21.

Persons: Jerome Powell, ” Gregory Daco, ” Diane Swonk, Donald Trump, Colin Kaepernick’s, Bud Light’s, Elliott Gotkine, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, , Sherwin, Williams, Clark, General, Hess, Rowe Price Organizations: CNN Business, Bell, DC CNN, The Commerce Department, Federal Reserve, Treasury, KPMG, BlackRock, America, Nike, Yale School of Management, Microsoft, ” Disney, Sonnenfeld, Tottenham Hotspur, Whirlpool, Verizon, General Electric, Barclays, 3M, General Motors, Spotify, Quest Diagnostics, Mobile, Boeing, General Dynamics, Old Dominion, Hilton, Meta, IBM, US Commerce Department, Mastercard, Merck, Comcast, UPS, Myers Squibb, Northrop Grumman, Valero, The Hershey Company, Amazon, Intel, European Central Bank, US Labor Department, National Association of Realtors, Exxon Mobil, Chevron, Colgate, Palmolive, Phillips, University of Michigan Locations: Washington, EY, Israel, United States, United Kingdom, London, Gaza, Kimberly, Haliburton, Old, Bristol, AbbVie

☆ Why corporate America can't stay silent on Hamas's October 7 attacks on Israel
▼ + stars: | 2023-10-20 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +4 min

London CNN —From ESG investing (Blackrock), to gay rights (Disney), to Donald Trump after the Capitol riots (mainstream corporate America), companies routinely take a stand. But when the barbarous scale of Hamas’s October 7 attacks on Israel became clear, staying silent ceased to be an option. “Saying nothing speaks to cowardice,” said Jeffrey Sonnenfeld, a professor at the Yale School of Management who focuses on corporate leadership among other issues. All in, around 80 household-name companies in America have condemned the Hamas attacks, as tracked by Sonnenfeld who maintains a list. “Not taking a stand is taking a stand,” Susan, who served in the Israeli special forces, told CNN.

Persons: Donald Trump, Colin Kaepernick, Bud Light’s, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, Sonnenfeld, , Paddy Cosgrove, Israel, Sundar Pichai, Israel Jose Luis Magana, Susan, ” Susan, ” Richard Griffiths, Citigate Dewe Rogerson, ” Griffiths Organizations: London CNN, Blackrock, America, Nike, Yale School of Management, Microsoft, Google, ” Disney, Tottenham Hotspur Football Club, Web, Eclipse, CNN, “, London Locations: Israel, America, United States, United Kingdom, Gaza, Ukraine, ”, Russia

☆ DJ D-Sol out! Goldman Sachs CEO David Solomon steps away from controversial spinning gig
▼ + stars: | 2023-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Goldman Sachs chief executive (and noted party DJ) David Solomon will no longer perform at high-profile events, picking Wall Street over South Beach, a representative from the second-largest investment bank confirmed to CNN. Solomon, who performed under the alias DJ D-Sol, began spinning tracks at festivals and in night clubs a few years ago. “David [Solomon] doesn’t work to play diplomat,” Jeffrey Sonnenfeld, who runs Yale School of Management’s Chief Executive Leadership Institute, recently told CNN. And while shares of Goldman Sachs (GS) may be down by more than 8.4% this year, they’re still up by about 40% since he took over in 2018. Goldman Sachs announced third-quarter results on Tuesday morning, reporting earnings of $5.47 per share, which beat the $5.31 expected by analysts.

Persons: Goldman Sachs, David Solomon, “ David, ”, Goldman, Tony Fratto, Solomon, DJ, ” Solomon, Doja, Andrew Cuomo, it’s, Marcus, ” Jeffrey Sonnenfeld, they’re, “ Organizations: New, New York CNN, CNN, New York State Department of Health, Financial, Yale School of Management’s, Leadership Institute, Revenue Locations: New York, South Beach, Dua Lipa

As a result, they’re almost sure to leave their key interest rate unchanged when their meeting ends Wednesday. Claudia Sahm, a former Fed economist, said she thinks a “soft landing,” in which the Fed manages to curb inflation without causing a recession, remains possible. But she cautioned that inflation might stay higher for longer than the central bank expects. Or, she suggested, the cumulative effects of the Fed's 11 rate hikes could ultimately tip the economy into recession. “I expect we’ll need to hold rates at restrictive levels for some time,” said Susan Collins, president of the Federal Reserve Bank of Boston.

Persons: they’re, Jerome Powell, Claudia Sahm, ” Sahm, “ They’re, ”, Christopher Waller, Powell, “, They're, Jose Torres, Susan Collins, Lorie Logan, William English Organizations: WASHINGTON, Federal, Wall Street, Fed, Fed's, Governors, CNBC, Interactive, Federal Reserve Bank of Boston, Dallas Fed, European Central Bank, Bank of England, Bank of Japan, “, Yale School of Management Locations: Jackson Hole , Wyoming, Ukraine, U.S

The U.S. economy has avoided a threatened banking crisis and financial markets have not only aligned with the Federal Reserve's tight-credit policies but of late even helped the process by bidding up market interest rates. "I think Powell’s main effort is going to be explaining to what degree you want to hold (interest rates) higher for longer in the current outlook." Investors in contracts tied to the Fed's benchmark interest rate currently expect the Fed to begin reducing the policy rate next year from the current level set between 5.25% and 5.5%. Fed officials in fact have begun discussing the possibility of rate cuts down the road, at least in the context of steadily falling inflation. If inflation does decline as expected, Fed officials including Powell have suggested rate reductions might be appropriate to maintain a roughly constant inflation-adjusted "real rate."

Persons: Jerome Powell, Jackson, Jim Urquhart, JACKSON, Antulio Bomfim, Powell, who've, isn't, Adam Posen, William English, Donald Kohn, Howard Schneider, Andrea Ricci Organizations: REUTERS, Federal, Kansas, Fed, Northern Trust, Bank of England's, Committee, Peterson Institute for International Economics, Yale School of Management, Brookings Institution, Thomson Locations: Teton, Jackson , Wyoming, U.S, , Wyoming, Washington

☆ Goldman Sachs: Is David Solomon on his way out? The CEO whisperer weighs in
▼ + stars: | 2023-08-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —David Solomon, CEO and president of Goldman Sachs, is getting bad press — a lot of bad press. And while shares of Goldman Sachs (GS) may be down by more than 5% this year, they’re still up by about 40% since he took over in 2018. Goldman Sachs did not respond to requests for comment for this article. Before the Bell: What is going on at Goldman Sachs? There have been articles purporting that former Goldman CEO Lloyd Blankfein isn’t happy with the job David Solomon has done and that he has offered to step in to help.

Persons: David Solomon, Goldman Sachs, Marcus, Solomon, they’re, Bell, Jeffrey Sonnenfeld, Lloyd Blankfein isn’t, that’s, Lloyd, he’s, That’s, David, ‘, Juliana Liu, Michelle Toh, ” Julian Evans, Pritchard, Zichun Huang, Hang, Lehman, Hillary, Eva Rothenberg, Harry Reid, Hilary Organizations: CNN Business, Bell, New York CNN, Financial Times, Yale School of Management’s, Leadership Institute, Nokia, BlackBerry, Microsoft, Goldman, People’s Bank of China, Reuters, Capital Economics, Hang Seng, The Bank of Korea, Bank Indonesia, country’s National Bureau of Statistics, Harry, Harry Reid International, San Diego International Locations: New York, Lloyd, China, Hong Kong, Shanghai, Asia, Las Vegas, California, Nevada, Southern California, Idaho

☆ Alleged Russian crime boss sanctioned by Ukraine owns a major stake in US biotech firm
▼ + stars: | 2023-08-21 | by ( Matt Egan | ) edition.cnn.com time to read: +13 min

Buried in corporate filings is another relationship that is central to Humacyte: Russian billionaire Gavril Yushvaev is the company’s second-largest individual shareholder. Humacyte: Russian billionaire has no ‘control’ over firmYushvaev has not been sanctioned by the US government. “There are patients walking today on their own limbs who would not be doing so without access to the HAV to repair their damaged arteries,” a Humacyte spokesperson said. ‘It shows poor judgment’Yushvaev was brought in as an accredited private investor by Credit Suisse’s capital markets advisory group, a Humacyte spokesperson told CNN. Dougan does not personally know Yushvaev, a Humacyte spokesperson told CNN.

Persons: — Weeks, Kathleen Sebelius, Gavril Yushvaev, Yushvaev –, ”, Yushvaev, ” Forbes, Dann, Charles Whitehead, That’s, Steven Tian, Putin, Vladimir Putin, Trump, Sebelius, Humacyte, Obama, ” Yushvaev, Yale’s Tian, Whitehead, “, ” It’s, Brady Dougan, Dougan, Laura Niklason, ’ Yushvaev, Jeff Sonnenfeld, Sonnenfeld, ” Humacyte, Lawrence Ward, Ward, Eleanor Bloxham, ” Bloxham, ’, Lyft, Mother Jones Organizations: New York CNN, Pentagon, Nasdaq, US Department of Defense, CNN, Securities and Exchange Commission, Ukraine, Pepsico, Cornell Law School, BlackRock, Vanguard, Yale School of Management’s, Institute, Treasury Department, Kremlin, Credit, Ayabudge, Credit Suisse, Humacyte, PTC, Yale, Yushvaev, SEC, “, Soviet, US Treasury, Dorsey, Whitney’s, Value Alliance, The Department of Defense, DOD, Cornell, Russia Locations: Ukraine, North Carolina, Humacyte, Russian, Russia, Crimea, Cypriot, Yale, Bloxham, Lyft

☆ The resilience of Russia's stock market and its economy is a complete mirage masking deeper pain, Yale researchers say
▼ + stars: | 2023-08-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The functioning of Russia's stock market is an illusion, two Yale researchers told Insider. That apparently stellar performance of the Russian stock market this year is ultimately an illusion meant to mask deepening pain in the country's economy. It's a move that was intended to prop up Russia's stock market, the researchers said. "The Russian stock market performance is very misleading, It is a Roach Motel of assets," Sonnenfeld told Insider. Other experts have warned of more pain for Russia's economy as its costly war in Ukraine drags on.

Persons: Vladimir Putin, Jeffrey Sonnenfeld, Steven Tian, Ukraine haven't, that's, Tian, Sonnenfeld, Putin Organizations: Yale, Investments, Service, Yale School of Management, Putin, Levada Locations: Wall, Silicon, Moscow, Russia, Ukraine, Poland, Baltic, Russian, Armenia, Georgia, Kyrgyzstan

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