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☆ How Melinda French Gates became one of the world’s wealthiest and most important philanthropists
▼ + stars: | 2024-05-14 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

CNN —On Monday, Melinda French Gates announced her resignation from the Bill and Melinda Gates Foundation, officially ending one of the world’s leading philanthropic partnerships. In French Gates’ 2008 Fortune profile, Buffett said French Gates helped focus the foundation’s mission. In addition to French Gates, Gates and Buffett, The Giving Pledge counts billionaires like Mark Zuckerberg, Elon Musk and MacKenzie Scott as signatories. French Gates has a net worth of $13.3 billion, according to the Bloomberg Billionaires Index, while Bill Gates’ net worth is $153 billion. French Gates’ departure from the Bill and Melinda Gates Foundation has been hinted at since the couple announced their divorce in May 2021.

Persons: Melinda French Gates, Melinda Gates, Gates, Bill Gates, Melinda Gates ’, Warren Buffett, Buffett, ” Buffett, Mark Zuckerberg, Elon Musk, MacKenzie Scott, “, French Gates Organizations: CNN, Melinda Gates Foundation, Microsoft, Duke University, Fortune Magazine, Gates Library Foundation, Berkshire Hathaway, Bloomberg, Rutgers ’ Center, American Women Locations: United States, Fortune, “, Gates, French, Politics

☆ Money or talent? What's actually driving hedge funds to Abu Dhabi and Dubai
▼ + stars: | 2024-05-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.

Persons: —, Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi

☆ This Old, Old House: Would You Buy a 1702 Fixer-Upper?
▼ + stars: | 2024-05-12 | by ( Steven Kurutz | ) www.nytimes.com time to read: 1 min

Lee McColgan’s career in finance was probably doomed as soon as he started visiting historic house museums. The first one he toured was the Fairbanks House, in Dedham, Mass., the oldest surviving timber-frame home in America, built in 1637. It was 2014, and Mr. McColgan was living in Omaha, where he worked as a sales representative for a large investment company. Despite a rural childhood in Vermont and an interest in visual arts and building, he had spent much of his adulthood working in a cubicle: five years of “jacking in” at a call center outside Boston, followed by several more as a Midwestern “external wholesaler” pitching mutual funds to financial advisers.

Persons: Lee McColgan’s, McColgan, “ Organizations: Fairbanks Locations: Dedham, Mass, America, Omaha, Vermont, ”, Boston

☆ Jim Simons, legendary hedge fund manager who cracked the market, dead at 86
▼ + stars: | 2024-05-10 | by ( Paul Squire | ) www.businessinsider.com time to read: 1 min

Jim Simons, the legendary hedge fund manager who founded the prolific Renaissance Technologies, died on Friday, according to the foundation he started. AdvertisementThe MIT math professor and former NSA codebreaker was 86 years old. "Jim was an exceptional leader who did transformative work in mathematics and developed a world-leading investment company," Simons Foundation president David Spergel said in a statement. This is a developing story. Please check back for updates.

Persons: Jim Simons, NSA codebreaker, Jim, David Spergel Organizations: Renaissance Technologies, NSA

☆ How Warren Buffett, set to turn 94 this year, is thinking about his age and his business
▼ + stars: | 2024-05-05 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Warren Buffett made several jokes about his age during Saturday's annual shareholder meeting. Buffett will be turning 94 this year and has already made plans for a successor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett is very aware that he won't be at the helm of Berkshire Hathaway forever.

Persons: Warren Buffett, Buffett, —, Berkshire Hathaway Organizations: CNBC, Service, Berkshire Hathaway, Berkshire, Business Locations: Berkshire

☆ A VC and former student-athlete who played with Aaron Rodgers breaks down 7 big opportunities in the burgeoning NIL startup scene
▼ + stars: | 2024-04-29 | by ( Tiara White | ) www.businessinsider.com time to read: +3 min

Today, the venture capitalist is looking to invest in startups in the name, image, and likeness space transforming college sports. NIL, as it's called for short, has become big business since 2021, when student-athletes gained the right to make money from it. Some college athletes are making millions from brand and sponsorship deals, and a cottage industry has cropped up to support the rapidly changing industry. He and his partners also raised $25 million in 2021 for a venture-capital firm, Fiat Ventures, which invests in early-stage companies in the fintech space, per its website. After months of researching and talking to startups, Glover broke down the seven biggest opportunities he sees in the NIL industry:

Persons: Drew Glover, Aaron Rodgers, Cameron Jordan, Marshawn Lynch, Glover, couldn't, Jonathan Ferrey, Vint, he's, He's Organizations: University of California, Business, California, Fiat Growth, Fiat Ventures, LinkedIn Locations: Berkeley, Berkeley , California

☆ I left my corporate banking job after I got reality TV-famous on 'The Bachelorette.' Now, I'm worth $4 million.
▼ + stars: | 2024-04-25 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +10 min

I was working as a senior corporate banker right before I applied to be on "The Bachelorette." Throughout my career in corporate banking, I executed over $150 million in lending transactions. AdvertisementFive years after leaving the corporate world, I'm now worth between $4 and $5 millionTartick in 2023. Charles Sykes/Bravo via Getty ImagesWe just came off a massive book launch for "Talk Money to Me," where we went to eight cities. Jason Tartick's new book "Talk Money to Me" is in stores now.

Persons: —, Jason Tartick, podcaster, It's, I'd, guardrails, Tartick, Craig Sjodin, You've, I'm, Becca wasn't, Becca Kufrin, Paul Hebert, — it's, Kaitlyn Bristowe, didn't, Jason, I've, that'll, Charles Sykes, Bravo, we've, Jason Tartick's Organizations: Service, Business, Disney, Entertainment, Getty, Rewire Talent Management Locations: KeyBank, America

☆ Saudi Arabia is becoming a hot spot for global technology manufacturing with sustainable practices in mind. Here's how.
▼ + stars: | 2024-04-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +5 min

AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. Alat has already partnered with several global leaders in advanced manufacturing to work together on these challenges. Alongside advanced technology, another critical element of Alat is the use of clean energy and sustainable practices to become a leader in sustainable manufacturing. Alat will also implement sustainability best practices into every facet of its processes, which integrate the most up-to-date industry 4.0 thinking to enable sustainable manufacturing. Through the combination of advanced technology, best practices, and commitment to sustainability, Alat is reimagining manufacturing, for a better tomorrow.

Persons: Alat Organizations: Saudi Arabia's Public Investment Fund, Alat, SoftBank Group, Saudi, Sustainable Technology, Insider Locations: Saudi, Saudi Arabia

☆ Everton Is Back on Market as Deal With 777 Partners Falters
▼ + stars: | 2024-04-22 | by ( Tariq Panja | ) www.nytimes.com time to read: +1 min

Everton announced in September that it had signed an agreement to sell the club to an American investment firm, 777 Partners. But seven months later, the Premier League has still not granted more than conditional approval of the deal amid questions about 777’s financials. At the same time, the club continues to struggle on and off the field. Of perhaps more concern is the state of the 146-year-old club’s finances. Everton has now borrowed about £160 million (almost $200 million) from 777 Partners, a privately held investment company — cash infusions that have been required to help the team stave off bankruptcy.

Organizations: Everton, Premier League, Premier, Partners

The World Food Programme (WFP) will support distribution of aid from the pier following weeks of diplomatic wrangling, the organization said Saturday. The US role in the effort has been complex, with the military carrying out a high-stakes construction mission in a warzone and diplomats helping to organize a dangerous and highly politicized aid distribution operation. US military and commercial ships will be able to transport aid to the US military pier, a defense official said, but only the US military will be allowed access to the causeway. “Everyone is wary of being too close to the IDF” for both security and political reasons, one humanitarian official told CNN. Fogbow is willing to use the US military pier to get aid onto shore, the sources said, but also won’t need to use it in order to carry out its operations.

Persons: CNN —, Biden, CNN –, ”, Joe Biden, “, Bashar al Masri, Masri, Scott Paul, ” Paul, Kerem Shalom, ” Fogbow, Cameron Hume, Fogbow, Paul Organizations: CNN, UN, Food Programme, US, Israel Defense Forces, WFP, United Nations, Food, Palestinian, Palestine Development, Investment Company, IDF, Oxfam, Maritime Humanitarian Aid Foundation, Qatari, Fogbow Locations: Gaza, American, Israel, Cyprus, Israel’s, Palestinian, Rafah, Kerem, Geneva, Algeria, South Africa, Indonesia, Qatar, Gaza’s

☆ With interest rates expected to be higher for longer, here's what to do with your cash
▼ + stars: | 2024-04-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

That means those saving cash in money market funds and Treasury bills can expect to see their rates stay higher for longer. The annualized seven-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.13%. The appetite for money market funds is evident in the record amount of cash pouring into the products. Last week, there was $6.11 trillion sitting in money market funds, according to the Investment Company Institute , up from $5.87 trillion in mid-December. Then there are moderate risk investors with longer time horizons, which Vanguard surveys show are the majority of investors, he said.

Persons: They've, Peter Crane, Shelly Antoniewicz, Marguerita Cheng, you'll, Cheng, Roth, Barry Glassman, Glassman, he's, Roger Aliaga, Diaz, Vanguard's, Cash, Aliaga Organizations: Federal, Crane, Investment Company Institute, Blue, Global, CNBC, Wealth, Treasury, Vanguard

☆ BlackRock says this is the 'last best opportunity' to buy these bonds
▼ + stars: | 2024-04-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

"We believe the recent back up in rates is probably the last best opportunity to extend duration," wrote Gargi Pal Chaudhuri, chief investment and portfolio strategist, Americas, at BlackRock. Generally speaking, the value of a bond goes up as interest rates go down, with longer-dated bonds seeing the biggest gains. While bond funds have been seeing inflows this year, there are still plenty of investors with excess cash in short-term accounts. Different funds that offer that type of exposure include the iShares 3-7 Year Treasury Bond ETF (IEI) , the SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and the Vanguard Intermediate-Term Treasury ETF (VGIT) . Investors shouldn't go overboard with adding duration, because the long-term bonds on the market carry extra risk, Akullian said.

Persons: BlackRock's, Gargi Pal Chaudhuri, Kristy Akullian, It's, Akullian, Investors shouldn't Organizations: Treasury, Federal, Investment Company Institute, BlackRock, CNBC, Treasury Bond ETF, Research, Investors Locations: Americas, BlackRock, US10Y

☆ SEC Chair Gary Gensler signals that disclosure will be a key issue in the year ahead
▼ + stars: | 2024-04-02 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The event allows the SEC to get its main messages across, and this year a key issue is "disclosure." Besides Gensler, all the SEC division heads and senior staff will be speaking. and then monitors Corporate America (investment advisers, investment companies, broker-dealers, etc.) This is all governed by the Investment Company Act of 1940 and the Investment Advisers Act of 1940. There's a division of investment management that monitors all the investment companies (that includes mutual funds, money market funds, closed-end funds, and ETFs) and investment advisers.

Persons: Gary Gensler, Drew Angerer, Gensler, There's, We'll Organizations: . Securities, Exchange, Capitol, SEC, Securities and Exchange Commission, Practicing Law Institute, Gensler, Securities, Investment, America, Corporate America, Mutual Locations: Washington ,, United States, There's, U.S

☆ Meet the billionaire 'king of subprime car loans' whose company underwrote Trump's $175 million civil fraud bond
▼ + stars: | 2024-04-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Billionaire Don Hankey's company underwrote a $175 million appeal bond for Donald Trump. The 80-year-old oversees Hankey Group, which employs over 3,400 people and whose assets are worth around $22.5 billion, per Forbes. Axos Bank CEO Greg Garrabrants has previously donated around $50,000 to Republican campaigns since 2012, with $9,600 in support of Trump, according to Federal elections records. Related storiesHankey's net worth is estimated at $7.4 billion, according to Forbes — and it's nearly doubled within the last three years. The mansion ended up auctioning for less than half of its expected $500 million worth.

Persons: Don Hankey's, Donald Trump, Hankey, —, Don Hankey swooped, It's, that's, Trump, refinanced, Greg Garrabrants, Forbes —, Ford, Westlake, Niami, David Sucsy, Niami's, Allen J, Schaben, Getty Hankey, Debbie Hankey Organizations: Bel, Service, Hankey Group, Forbes, Hankey's, Specialty Insurance, Bloomberg, Axos Bank, Axos, Trump, Westlake Financial Services, Hankey Investment, Bel Air, Los Angeles Business Journal, University of Southern Locations: Southern California, Bel Air Los, Bel, University of Southern California, Malibu

☆ Mandarin Shipping on shipping outlook after Baltimore bridge collapse
▼ + stars: | 2024-04-02 | 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 EmailShipping will be more volatile, but has a 'remarkable ability' to bounce back: Mandarin Shipping CEOTim Huxley, CEO of the shipping investment company, discusses the outlook for global supply chains in the wake of the Baltimore bridge collapse.

Persons: Tim Huxley Organizations: Email Shipping, Mandarin Shipping Locations: Baltimore

☆ The 4% mortgage rate and other sweet offers from lenders hoping to stave off commercial real estate doom
▼ + stars: | 2024-03-27 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Instead a deal is now being negotiated to trim the size of the property's $240 million mortgage and potentially extend the loan at below-market interest rates in an attempt to revive the property's fortunes. The negotiations show that as hundreds of billions of dollars of commercial real estate debts come due or have already tumbled into default, deals are being arranged behind the scenes to try to stave off financial catastrophe. More borrowers and lenders have sought to buy timeThere is mounting evidence that such negotiations are taking place more widely. There have been concerns that trillions of dollars of upcoming commercial property debt maturities could inflict heavy losses that could weigh on investors and lenders across the property market and even cause systemic issues in the banking sector. The deal is part of a growing number of sales by some lenders to cut down their exposure to commercial real estate.

Persons: Realty, Michael Maturo, we'd, Maturo, Jack Terzi, Terzi, Jamie Woodwell, Stephen Buschbom, Trepp, Alan Todd, David Blumberg, Raymond Boyd, Blumberg, Robert Ivanhoe, Greenberg Traurig, Ivanhoe Organizations: New, Aareal Bank, Business, JTRE Holdings, Mortgage Bankers Association, Treasury Department, Bank of America, 601W Companies, Aon, Aon Center, Federal Reserve Locations: New York, Lower Manhattan, Manhattan, New York City, Chicago

☆ A 'Dragon Ball' theme park is Saudi Arabia's latest attempt to become the world's playground. Some fans aren't happy.
▼ + stars: | 2024-03-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

A huge new "Dragon Ball" theme park is coming to Saudi Arabia, the franchise owner said. AdvertisementA massive theme park devoted to "Dragon Ball" is due to be built in Saudi Arabia. The owners of the Dragon Ball franchise announced Friday that Saudi Arabia's Qiddiya Investment Company would begin building the only theme park in the world devoted to "Dragon Ball," the hugely popular manga series. On one "Dragon Ball" fan subreddit, the news was greeted with comments like: "I'd prefer not to give the Saudis my money." AdvertisementThe news of the theme park came only weeks after the death of "Dragon Ball" creator Akira Toriyama, who died on March 8 aged 68.

Persons: —, Goku, Mohammed bin Salman's, Dragon, Prince Mohammed, Jamal Khashoggi, Akira Toriyama Organizations: Service, Ball, Saudi, Qiddiya Investment Company, Human Rights Watch, Business Locations: Saudi Arabia, Saudi, Qiddiya City, Riyadh, Turkey

☆ Middle East Crisis Israeli’s Military Turns Back Convoy Trying to Get Food Into Gaza, U.N. Agency Says
▼ + stars: | 2024-03-06 | by ( Anushka Patil | ) www.nytimes.com time to read: +3 min

Starbucks franchise operators across the Middle East and Southeast Asia are losing significant business amid boycotts linked to the Israel-Hamas war, and at least one has started laying off employees. “I think all those who are boycotting Starbucks Malaysia should know that it is a Malaysia-owned company,” he said. A similar post was published on the site for Starbucks in the Middle East. In January, Starbucks cut its global annual sales forecast as the Israel-Hamas war hurt the business of its licensees in the Middle East. Starbucks said it would continue to grow its business in the Middle East, including working with Alshaya Group in developing plans for the region.

Persons: Vincent Tan, ”, Laxman Narasimhan, Howard Schultz Organizations: Starbucks, Alshaya, Hamas, Food Berhad, Starbucks Malaysia, Alshaya Group Locations: East, Southeast Asia, Israel, Kuwait, North Africa, United States, Malaysia

☆ Etihad Airways signals possible IPO after 2023 revenue rebound
▼ + stars: | 2024-03-06 | by ( Dan Murphy | ) www.cnbc.com time to read: +2 min

Abu Dhabi's Etihad Airways is gearing up for a potential initial public offering after increasing revenue in 2023 on the back of a 40% boost in passenger numbers. Asked about a possible listing, Etihad Airways Group CEO Antonoaldo Neves told CNBC on Tuesday, "I'm working to be ready, whenever it's the time." Talk of an IPO has been swirling after it was reported that ADQ, the Abu Dhabi-based investment company that owns Etihad Airways, was in discussions with banks about going public as soon as this year. "It's not for me to confirm the shareholder decisions," Neves said, while also signaling efforts to prepare the airline. If it materializes, an IPO would enable Etihad to tap capital markets to fund future growth and expansion plans.

Persons: Abu, Antonoaldo Neves, Neves, ADQ, Raffael Quintas Organizations: Abu Dhabi's Etihad Airways, Etihad Airways Group, CNBC, Etihad Airways, Etihad, Emirates, Portuguese, TAP, Azul Airlines Locations: Abu Dhabi, Dubai, New York, Azul

☆ Money market funds saw record inflows even as stocks continued their climb to fresh highs
▼ + stars: | 2024-03-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Total assets in money market funds have hit a new record high, according to the latest data from the Investment Company Institute. The funds, which still have yields above 5%, saw total assets hit $6.06 trillion for the week ended Feb. 28, the firm said . While some on Wall Street think some of the cash in money markets will move into stocks, Crane has said there is no correlation between the two. Instead, money markets are competing with bank deposits, he believes. The annualized seven-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.14%.

Persons: Peter Crane, January's, Moody's, Crane, Teresa Ho Organizations: Investment Company Institute, New York Community Bancorp, Crane, New, New York Community, Fitch, JPMorgan, CNBC Locations: New, New York

☆ Inside Smashmallow, Silicon Valley's Failed Marshmallow Startup
▼ + stars: | 2024-03-03 | by ( Adam Rogers | ) www.businessinsider.com time to read: +20 min

"We wanted a marshmallow to have a little bite to it, not just be a foamy air," he says. Jon Sebastiani, Smashmallow founderSmashmallow had a killer brand — but the product was still basically being made one batch at a time, on kitchen counters. If Smashmallow couldn't produce enough marshmallows, Tanis wouldn't get its dough. The thing is, even though Smashmallow failed, Sebastiani didn't. "In that industry, a snackable marshmallow is a Smashmallow, like a copy machine is a Xerox," says Kwasniewski.

Persons: Jon Sebastiani, Sebastiani, Krave, jonesing, marshmallows, Liam Eisenberg, aerated, Cook, Jens Hoj, Hoj, Smashmallow, he'd, It's, Theranos, wasn't, Elizabeth Holmes, Tanis, Wolfgang Confectioners, Smashmallow Smashmallow, Wolfgang, Tanis wouldn't, Smashmallow couldn't, Richard Hartel, Sebastiani didn't, David Kwasniewski, Kwasniewski, Smashmallows, it's, Adam Rogers Organizations: Hershey, Michelin, BI, Kraft, Target, Walmart, Doumak, Workers, University of Wisconsin, Area, Xerox, marshmallows, Business Locations: Paris, California, Sonoma, Hershey, Silicon Valley, Los Angeles, Hobart, Chicago, Las Vegas, Netherlands, Tanis, Pennsylvania, America, Sonoma Capital, Smashmallow, Santa Rosa, San Francisco, Colorado, North America

New York CNN —Donald Trump is facing a cash crunch as deadlines are quickly approaching to find over half a billion dollars he owes in judgments. The scramble over the past week reveals challenges Trump is facing in raising the combined judgments totaling $537 million. It’s unclear how much cash Trump has on hand. Trump offered to post a $100 million bond to cover the New York attorney general’s case, but the appeals court judge rejected it. The sheer size of the judgments raises practical questions about how the Trump could feasibly come up with the cash.

Persons: Donald Trump, Trump’s, Jean Carroll, Trump, hawking, Chip Somodevilla, ”, Adam Kaufmann, Carroll, —, general’s, feasibly, –, CNN’s, Greg Garrabrants, ” Kaufmann, Jeremy Saland, “, Barbara Jones, Jones, David Shick, Shick Organizations: New, New York CNN, Trump, White House, Vornado, Deutsche Bank, Signature Bank, Capitol, Axos Bank, Lawyers, Trump Organization, Fidelity Association of America, ProSure, Underwriters Locations: New York, York, California

☆ America's first Black billionaire got rich from founding BET. He shares the moment he knew he'd made it.
▼ + stars: | 2024-02-29 | by ( Manseen Logan | ) www.businessinsider.com time to read: +8 min

Johnson, who created the first Black-owned company to be traded on the New York Stock Exchange, is the founder of Black Entertainment Television (BET). AdvertisementThe acquisition made Johnson and his former wife, Sheila Johnson, who is the cofounder of BET, billionaires. What is the best advice you've ever received, and how did it impact your business or career? The best advice I've ever received actually came from John Malone. Early on, some people wanted me to call BET "Urban Television" because "urban" was, I'd argue, considered a softer way of saying Black.

Persons: —, Robert L, Johnson, It's, hasn't, Sheila Johnson, John Malone, he's, — Michael Jordan, Tom Baltimore, you've, I've, I'd, BET should've Organizations: Service, Business, New York Stock Exchange, Black Entertainment Television, BET, Viacom, NYSE, Lodging Trust, Black Educational Television, Black Locations: America

☆ Bronx medical student who suddenly got free tuition after a $1B donation says the school will be a nightmare to get into now
▼ + stars: | 2024-02-28 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Albert Einstein College of Medicine received a record-breaking $1 billion donation for free tuition. The donation means all current and future students will receive free tuition. AdvertisementA student at a Bronx medical school that received a $1 billion tuition fee donation said he was elated, but he wouldn't want to be in the shoes of future applicants. "I still have to pinch myself and remind myself that this actually happened," Kohanzadeh told Business Insider. AdvertisementNonetheless, he said he would still encourage future students to apply as it isn't "out of reach for anyone who is extremely passionate."

Persons: Albert, —, Ruth Gottesman, Gottesman, David, Sandy, Brent N, Clarke, Warren Buffett, XOy9HZLbfD, 1ijv02jHFk —, Avraham, Avi, Kohanzadeh, would've, there's Organizations: Albert Einstein College of Medicine, Service, New York Times, Forbes, Manhattan Co, Times, Pediatrics, Health, Business Locations: Bronx, Berkshire Hathaway, @EinsteinMed

☆ Hong Kong property stocks jump after city scraps cooling measures
▼ + stars: | 2024-02-28 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

An urban view of high-rise buildings at dusk as seen from Hong Kong's Victoria Peak. Stocks of Hong Kong developers rose after Financial Secretary Paul Chan scrapped property cooling measures in a bid to bolster the sector, which has been weighed down by high borrowing costs and weak economic sentiment. Churchouse added that this could "be a bit of a positive flip" for the wider Hong Kong stock market as it is highly correlated with the residential property market. Hong Kong's stock markets have plunged around 40% from its highs a couple of years ago. Hong Kong's government is also rolling out over 1 billion Hong Kong dollars ($127 million) to support its tourism industry.

Persons: Chan, Paul Chan, Peter Churchouse, Churchouse, Hong Organizations: Hong, Portwood, Kong's Monetary, Hong Kong Locations: Hong, Victoria, Hong Kong

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