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☆ Moscow banned 2 major Swiss banks from selling shares in its subsidiaries after a Russian bank said it would lose money from their exit
▼ + stars: | 2023-08-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A Moscow court has banned UBS and Credit Suisse from disposing of shares in their Russian subsidiaries. Russia witnessed an exodus of Western companies after it invaded Ukraine. A Moscow court has banned two major Swiss banks — UBS and Credit Suisse — from trying to wriggle their way out of their Russian subsidiaries, Reuters reported on Tuesday, citing court documents. Moscow-based Zenit Bank requested the ban, citing concerns about losing money should the two Swiss banks exit, per the news agency. Zenit also requested the court to seize funds belonging to UBS and Credit Suisse, but the application was not granted, per Reuters.

Persons: UBS —, Vladimir Putin, Jeffrey Sonnenfeld Organizations: UBS, Credit Suisse, Zenit Bank ., Service, Credit Suisse —, Reuters, Zenit Bank, Zenit, Carlsberg, Danone, Yale School of Management Locations: Moscow, Zenit Bank . Russia, Ukraine, Wall, Silicon, Russia, Intergrain, Luxembourg, Russian

☆ Disney CEO Bob Iger facing criticism from striking actors and writers
▼ + stars: | 2023-07-25 | 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 EmailDisney CEO Bob Iger facing criticism from striking actors and writersJeff Sonnenfeld, Yale School of Management, and Kim Masters, The Hollywood Reporter editor-at-large, join 'Last Call' to talk criticism being leveled at Disney CEO Bob Iger by striking actors and writers.

Persons: Bob Iger, Jeff Sonnenfeld, Kim Masters Organizations: Yale School of Management, Hollywood, Disney

☆ Ukraine seeks to lure global firms from Moscow as Danone and Carlsberg assets seized
▼ + stars: | 2023-07-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Alexander Demianchuk | RussiaUkraine is urging global companies to divest from Russia and relocate to its war-stricken neighbor, as Moscow continues to seize the assets of foreign companies. Sergiy Tsivkach is the CEO of UkraineInvest, a government agency tasked with attracting foreign direct investment to Ukraine and promoting the country as a secure long-term investment option for international business. "It is important to show that the aggressor cannot receive any investments or any operations from international companies." 28, 2022 that it would seek a full disposal of its business in Russia, and signed an agreement on Jun. 'Your war investment could be wiped out'Ukraine's allies pledged nearly $60 billion toward the country's recovery and reconstruction at the Ukraine Recovery Conference in London in June.

Persons: Alexander Demianchuk, Vladimir Putin, Danone, Tsivkach, Carlsberg, UkraineInvest, David Roche Organizations: Carlsberg, CNBC, videolink, Yale School of Management, Danone, Baltika Breweries, Danone Russia, Russian Federal Agency, Rosimushchestvo, Mar, Initiative, Conference, Independent, NATO Locations: Carlsberg, St . Petersburg, Russia, Russia Ukraine, Moscow, Russian, Ukraine, Uniper, Kyiv, London

☆ Yale's Jeff Sonnenfeld: BlackRock CEO Larry Fink 'is swinging like a pendulum' with Aramco news
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYale's Jeff Sonnenfeld: BlackRock CEO Larry Fink 'is swinging like a pendulum' with Aramco newsJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Squawk Box' to discuss news of BlackRock naming Saudi Aramco CEO Amin Nasser to its board, a move the company says will give it 'a unique perspective' on key issues.

Persons: Jeff Sonnenfeld, Larry Fink, Amin Nasser Organizations: BlackRock, Aramco, Yale School of Management Locations: BlackRock

☆ BlackRock made a climate pledge. Then it appointed a Saudi oil executive to its board
▼ + stars: | 2023-07-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —BlackRock, the world’s biggest asset manager, said Monday it has appointed Amin Nasser, chief executive of oil giant Saudi Aramco, to its board of directors — despite the New York-based firm’s pledge to accelerate investment in climate-friendly companies. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising up the ranks to become CEO in 2015. Saudi Aramco is the world’s largest oil producer, with a market capitalization of 7.8 trillion Saudi riyal ($2.1 trillion). But, like other fossil fuel companies, pressure has built on Saudi Aramco to take more drastic action to curb its greenhouse gas emissions. President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023.

Persons: Amin Nasser, —, Bader Alsaad, Larry Fink, Nasser, Hasnoor Hussain, ” Nasser, BlackRock’s, Jeff Sonnenfeld, Nasser “ Organizations: London CNN — BlackRock, Saudi Aramco, New, BlackRock, Arab Fund for Economic, Social, Saudi, —, Energy Asia, World Petroleum Congress, Yale School of Management, CNBC, Aramco, CNN Locations: Saudi, New York, ”, Ukraine, Kuala Lumpur, Malaysia, decarbonize, United States, BlackRock

☆ EU's competition chief Margrethe Vestager under fire for hiring a U.S. economist
▼ + stars: | 2023-07-18 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Executive Vice President Margrethe Vestager is answering questions from lawmakers on considering giving a top job in her cabinet to a U.S. citizen. Europe's powerful competition chief, Margrethe Vestager, is under fire for hiring an American citizen for one of her team's top jobs. Vestager, who's been leading investigations into Big Tech for almost 10 years, is due to answer questions from European lawmakers Tuesday after appointing Fiona Scott Morton, a professor at the Yale School of Management, as chief competition economist at the European Commission, the EU's executive arm. Laurence Boone, France's secretary for Europe, said on Twitter that she had spoken with Vestager about this nomination, adding that "Europe has many talented economists." "I invite the European Commission to reconsider its choice," he added.

Persons: Margrethe Vestager, who's, Fiona Scott Morton, Laurence Boone, Jean, Noël Organizations: Big Tech, Yale School of Management, European Commission, Twitter, Commission, CNBC Locations: Europe, Brussels

☆ AT&T was late to the party with 5G because they were distracted with content, says Yale's Sonnenfeld
▼ + stars: | 2023-07-17 | 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 EmailAT&T was late to the party with 5G because they were distracted with content, says Yale's SonnenfeldJeff Sonnenfeld, Yale School of Management, joins 'Last Call' to talk AT&T depleting stock price, the recent toxic lead report impacting its stock price and more.

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

☆ Russia ramps up its economic war with the West as it seizes local operations of 2 corporate giants
▼ + stars: | 2023-07-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia escalated its economic war with the West by seizing local operations of Carlsberg and Danone. They marked the second seizures of Western assets since the Kremlin unveiled a decree in April. To slow the exodus of Western firms out of Russia, the Kremlin previously mandated a steep discount for any firms trying to sell their local operations as well as an exit tax. But the recent seizures of Western assets signal a continued escalation in Russia's economic war with the West, which imposed punishing sanctions on Moscow in 2022 for its war on Ukraine. Meanwhile, 523 of the major firms in the study have permanently withdrawn from Russia, while 503 firms have temporarily suspended operations.

Persons: Vladimir Putin, Germany's Uniper, Danone Organizations: Carlsberg, Danone, Kremlin, Service, Russian, Carlsberg Group, Danone Russia, Yale School of Management Locations: Russia, Wall, Silicon, Danish, Moscow, Ukraine

☆ Watch CNBC's full interview with Yale's Jeff Sonnenfeld and RSE's Matt Higgins
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Yale's Jeff Sonnenfeld and RSE's Matt HigginsJeff Sonnenfeld, Yale School of Management, and Matt Higgins, RSE Ventures co-founder and CEO, join 'Last Call' with reaction to Disney CEO Bob Iger's comments about the future of Disney's TV assets.

Persons: Yale's Jeff Sonnenfeld, RSE's Matt Higgins Jeff Sonnenfeld, Matt Higgins, Bob Iger's Organizations: Yale School of Management, RSE Ventures, Disney, Disney's

☆ Bob Iger basically kicked off an auction today, says RSE's Matt Higgins
▼ + stars: | 2023-07-13 | 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 EmailBob Iger basically kicked off an auction today, says RSE's Matt HigginsJeff Sonnenfeld, Yale School of Management, and Matt Higgins, RSE Ventures co-founder and CEO, join 'Last Call' with reaction to Disney CEO Bob Iger's comments about the future of Disney's TV assets.

Persons: Bob Iger, RSE's Matt Higgins Jeff Sonnenfeld, Matt Higgins, Bob Iger's Organizations: Yale School of Management, RSE Ventures, Disney, Disney's

☆ The cult of Emily Oster
▼ + stars: | 2023-06-22 | by ( Sarah Todd | ) www.businessinsider.com time to read: +30 min

Emily Oster is sitting in the back of a car, checking her Garmin watch as we lurch through rush-hour traffic toward the Holland Tunnel. A self-described expert in data, Oster uses her economics training to dig into studies on things like circumcision and screen time and translate them for popular consumption. There doesn't seem to be much of a gap between the way Oster presents herself in her books and newsletters and the way she conducts her life. Unsurprisingly, economics informs every aspect of the way Oster sees the world. When Oster was a toddler, her mother told a Yale colleague that Oster often talked to herself before falling asleep.

Persons: Emily Oster, doesn't, Oster, Taylor Swift, Spock, —, Mandy Moore, Emily DiDonato, Amy Schumer, " Oster, Emily, Aisha McAdams, Claudia Goldin, who's, Lori Feldman, " Feldman, Winter, It's, reopenings, Timothy Caulfield, Oster's Brown, OSTER, She's, Sheryl Sandberg's, Brown, Denis Tangney Jr, graham, Eminem, Sharon Oster, Ray Fair, Jesse Shapiro, Katherine Nelson, Carl, Choate Rosemary Hall, John F, Kennedy, Glenn Close, Ivanka Trump, Goldin, Steven Levitt —, Oster —, Paul Farmer, Steven Levitt, Oster's, Levitt, Robert Barro, demographer Monica Das Gupta, Joseph Delaney, she'd, I've, Matt Notowidigdo, Chicago Booth, hadn't, Udo Salters, Patrick McMullan, Shapiro, Jessica Calarco, Dr, Anthony Fauci, Donald Trump, Calarco, Rochelle Walensky, Delaney, University of Manitoba epidemiologist, Abigail Cartus, Justin Feldman, Delivette Castor, they're, COVID, Castor, Notowidigdo, Carter, you'd, she's, there's Organizations: Garmin, Brown University, New York Times, American Academy of Pediatrics, Yorker, Yale School of Management, Yale, Harvard, Connecticut, Choate, University of Chicago, Forbes, Wall, Publicly, University of Manitoba, Getty, Oster, Centers for Disease Control, Columbia University, Harvard Business School Locations: Holland, Montclair , New Jersey, Montclair, Harvard, Providence , Rhode Island, New Haven , Connecticut, China, Canada, Chicago, Ohio, New Jersey

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

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

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

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

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

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

☆ Watch CNBC's full interview with Jeffrey Sonnenfeld and Kyle Bass
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Jeffrey Sonnenfeld and Kyle BassKyle Bass, Hayman Capital Management founder, and Jeffrey Sonnenfeld, Yale School of Management, joins 'Last Call to discuss the Chinese economy, U.S. business relations with China, and more.

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

☆ Explainer: How the Fed might act in a U.S. default
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +6 min

Despite Powell's protestations, the Fed would have a role in trying to limit the harm to financial stability. In past debt-ceiling standoffs - in 2011 and 2013 - Fed staff and policymakers developed a playbook that would likely provide a starting point. English, however, had envisioned the bonds being accepted by the Fed at a market price that would likely be impaired by their defaulted status. But, following the bank failures in March, the Fed has a new bank lending facility - one that allows securities with impaired prices to be pledged at face value. Ben Bernanke, Fed chair at the time, quipped: "So you are willing to accept 'loathsome' under some certain circumstances," drawing laughter from others on the call.

☆ Bob Iger strikes back: Disney sues DeSantis over control of its Florida resort
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

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

☆ On the hot seat: How will the new 737 Max woes affect Boeing CEO's future
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: 1 min

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

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

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

☆ Russia detains WSJ journalist: White House condemns actions as 'unacceptable'
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: 1 min

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

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

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

☆ Watch CNBC's full interview with Yale’s Jeffrey Sonnenfeld
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Yale’s Jeffrey SonnenfeldJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Power Lunch' to discuss the current bank debacle, and whether this chaos is another black eye for corporate America and for capitalism.

☆ Yale's Jeffrey Sonnenfeld explains why the Fed is responsible for the bank debacle
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYale's Jeffrey Sonnenfeld explains why the Fed is responsible for the bank debacleJeff Sonnenfeld, Yale School of Management senior associate dean for leadership studies, joins 'Power Lunch' to discuss the current bank debacle, whether this chaos is another black eye for corporate America and for capitalism.

☆ Small-businesses owners who had money in SVB can prepare for a financial crisis by doing these 3 things
▼ + stars: | 2023-03-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

Entrepreneurs who had money tied up in the Silicon Valley Bank fallout are rethinking finances. Diversify your bank accountsIf there's one takeaway from SVB's collapse, it's the importance of diversifying where you keep your money, Ma said. "For small businesses, it is possible to hedge that risk by diversifying their bank accounts," he said. Most small businesses operate historically, waiting to reconcile their books at the end of every month, before making decisions, Clark said. If your non-VC-backed small business has been affected by the Silicon Valley Bank crash, please contact this reporter at jortakales@insider.com.

☆ SVB collapse was driven by ‘the first Twitter fueled bank run’
▼ + stars: | 2023-03-14 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

New York CNN —The massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary industry the bank served: much of it unfolded online. Customers withdrew $42 billion in a single day last week from Silicon Valley Bank, leaving the bank with $1 billion in negative cash balance, the company said in a regulatory filing. “It was the speed, fueled by zero distribution costs for both rumors and withdrawals, that was so destabilizing.”Silicon Valley Bank was arguably uniquely susceptible to those factors given its tech-focused customer base. The next day, the US Federal Deposit Insurance Corporation stepped in and took control of the bank, which only added to the viral panic on Twitter. “THAT IS THE PROPER REACTION.”Hours later, the Biden administration stepped in and guaranteed the bank’s customers would have access to all their money starting Monday.

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

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

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