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Bloomberg Billionaire founder of Public Storage, B Wayne Hughes Sr, donated almost $400 million to the University of Southern California (USC), most of which was given anonymously, according to the Los Angeles Times. The son of a sharecropper, Hughes fled from dust storms in Oklahoma to Los Angeles, where he graduated from USC in 1957. The newspaper identified him as ...

Bloomberg Subsidies paid to UK farmers could be replaced after Brexit by cash from selling carbon credits, inducing more landowners to plant trees and protect marshlands that sequester greenhouse gases. Carbon farming has gained traction alongside markets that put a price on pollution. It’s an agricultural technique that stores carbon dioxide emissions by regenerating soil and vegetation. Farmers can potentially ...

“To the barricades.” That’s one way of characterising Bill Dudley’s recent proposal that the Federal Reserve fight back against President Trump’s unrelenting attacks. Although it’s a phenomenally bad idea, it has the curious and paradoxical effect of revealing the primary defects of Trump’s economic policies. First, some background. Dudley — a former chief US economist for Goldman Sachs — was ...

Giuseppe Conte looks set to form a new government in Italy, after activists from the Five Star Movement backed an alliance with the Democratic Party. The speedy resolution of Italy’s political crisis offers a striking contrast with the enduring chaos in Britain. But the basis of the new coalition, including the program and the likely ministerial team, appear extremely shaky ...

How often does it happen that a public pension fund chooses someone to manage its money — and then sticks with that person for 43 years? Only one streak I know of has lasted this long. The Atlanta-based investment counseling firm Bowen, Hanes and Company Inc., run by Jay Bowen, has received national acclaim for its long tenure overseeing the ...

After just 43 days in office, UK Prime Minister Boris Johnson has gotten himself into a dire fix. Unfortunately, there’s no easy way out — for him or for the country he nominally leads. Thanks to a series of miscalculations, Johnson’s party is cracking up, his government is collapsing, and his political strategy is backfiring. This week, he ejected 21 ...

Relations between Japan and South Korea are currently strained due to a dispute over former civilian workers from the Korean Peninsula during World War II. The heart of the problem is whether the promises made between our two sovereign states when they decided to normalise their relations in 1965 will be kept or not. In some people’s view, Japan’s recent ...

Back in the day, PCs were hip and investors chased computer stocks to sky-high valuations. Everyone was buying a desktop, and then a laptop, and the companies that supplied them could do no wrong. Then came the smartphone. We all know to blame Apple Inc. for the end of the PC era. Though Steve Jobs didn’t invent the “phone + ...

India’s far northeast is beautiful, friendly and one of the most ethnically, religiously and linguistically diverse places on earth. Multiple distinct ethnic groups share the hills, dales and great valley of the Brahmaputra River with indigenous tribes, tea garden workers originally from central India, ethnic Nepalese, and Bengalis — both Hindu and Muslim — from the Gangetic delta. As in ...

Bloomberg Federal Reserve Chairman Jerome Powell pushed back against perceptions that the US economy was tilting into a recession, while leaving the door open to further interest-rate cuts to keep the country’s record economic expansion on track. Speaking in Zurich, Powell said consumer spending and support from monetary policy should help deliver economic growth between 2 percent and 2.5 percent ...