Brown University Endowment Surges to $7.2 Billion with 11.3% Return
Brown University’s endowment experienced a strong return of 11.3% for the year ending in June, increasing its total value to $7.2 billion.
Articles for category: Business
Chicago Board of Education Members Resign Amid School District Budget Crisis
All seven Chicago Board of Education members will resign later this month, following months of rising tensions between the city and the school district, which are grappling with significant budget deficits.
STG Logistics Secures Financing Deal to Prioritize Debt Repayment Strategy
Private Equity-backed STG Logistics has secured a deal with a group of lenders to restructure its debt. This agreement allows STG to move ahead of its competitors in the repayment priority line, according to sources familiar with the situation.
Default Cycle Expected to Extend As Idiosyncratic Risks Rise
Michael Best, Barings High Yield Portfolio Manager, predicts that the default cycle may extend over the next one to two years. Meanwhile, Maureen O'Connor, Wells Fargo's Global Head of High Grade Debt Syndicate, notes an increase in idiosyncratic risk. They shared these insights during a discussion with Sonali Basak on "Bloomberg Real Yield."
EU Imposes Tariffs on China’s Electric Vehicles, Heightening Economic Tensions
The European Union has imposed tariffs on electric vehicles from China, a significant economic action that could lead to retaliation from Beijing. This decision raises concerns about its impact on European consumers and companies. Kevin Whitelaw reports.
FTSE Russell Sees Positive India Bond Market Talks Ahead of Index Decision
FTSE Russell reported successful meetings with India’s securities regulator regarding access to the country's bond market. This comes as the firm prepares to decide on including Indian debt in its index, according to a Bloomberg document.
El-Erian Urges Fed to Renew Inflation Focus After Hot Jobs Report
In a recent statement, economist Mohamed El-Erian emphasized that the Federal Reserve must refocus on combating inflation. This comes after September's surprising jobs report, which highlighted that inflation remains a pressing issue. El-Erian warns that the data serves as a reminder that inflation "is not dead," indicating the need for continued efforts to stabilize prices.
Supreme Court Decides on Mexican Lawsuit Against Gunmakers Over Cartel Links
The US Supreme Court is set to review a lawsuit filed by the Mexican government against Smith & Wesson and other gun manufacturers. The lawsuit claims these companies have contributed to the illegal sale of firearms to individuals linked to violent drug cartels in Mexico.
Israel Strikes Hezbollah Amid Rising Tensions and Biden’s Uncertain Support
Israel bombed over a dozen Hezbollah targets in Beirut Thursday, as G7 nations urged against escalating tensions in the Middle East. President Biden's comments raised doubts about U.S. support for Israeli strikes on Iranian oil facilities, leading to a surge in oil prices. Meanwhile, Robinhood CEO Vlad Tenev announced plans to introduce retirement products in the UK as the trading platform expands its services.
Traders Revise Fed Rate Cut Bets After Strong September Jobs Data
Traders have reduced their expectations for future Federal Reserve interest-rate cuts after the September US employment data exceeded estimates, indicating strong hiring trends. This suggests confidence in the economy and may influence the Fed's policy decisions moving forward.
