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He already serves on several boards, including Alphabet’s.
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What kind of work was - or is - Ferguson doing with TIAA that would conflict with a role at Apollo? As vice chairman at Apollo, he was set to advise senior leaders and bring in new business. (TIAA and Ferguson declined to comment.)ĭealBook has a bunch of questions, which we are trying to answer: “We think very highly of Roger and wish him all the best.” Ferguson retired from TIAA in May, amid speculation that President Biden would appoint him to a role in the administration. “Roger recently informed us that he has certain ongoing commitments with his prior employer and they are preventing him from working with us at this time,” a spokeswoman for Apollo told DealBook, confirming a report by Bloomberg. Only weeks after Apollo announced that Roger Ferguson was joining the firm, the former TIAA chief won’t be joining after all. We have questions about Roger Ferguson and Apollo
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Members of the IATSE union voted to accept new agreements with movie studios, aimed at avoiding excessively long working hours, by a narrow majority. Hollywood workers narrowly approve new labor contracts. And WeWork, in its first earnings as a public company, disclosed a rise in new customer leases, though it still lost $802 million in the third quarter. This morning, Walmart and Home Depot beat expectations for profit and revenue in their latest quarters. oil supplies by tapping the Strategic Petroleum Reserve.Įarnings reports reflect upticks in the pandemic economy. Market analysts believe he may increase U.S. The president blocked oil exploration and production within a 10-mile radius of Chaco Canyon in New Mexico, aiming to address climate change and protect Native American sites. JPMorgan is seeking at least $162 million Tesla has disputed the bank’s accusations.īiden restricts drilling around a major Native American cultural site. The lawsuit is tied to Musk’s 2018 tweets about taking the carmaker private and relates to a warrant transaction between the two. JPMorgan Chase sues Tesla over Elon Musk’s tweets. enforcement - a crucial source of funding for Biden’s proposed $1.8 trillion social spending bill - would bring in less than predicted. While he signed the $1.2 trillion bipartisan infrastructure bill into law yesterday, the head of the Congressional Budget Office said that increased I.R.S. Mixed news for President Biden’s economic agenda. “It’s important we act now, not when the crisis comes, to prevent natural competition from turning into terrible conflict.” But history is replete with horrifying examples of how they stumbled into it,” Paulson will say. “Great powers rarely desire to go to war. The consequences of escalating tensions could be dire. “Let’s not kid ourselves that one leaders’ meeting can resolve the very real strategic and competitive tensions between our countries,” Paulson will say of the meeting. President Biden and President Xi Jinping of China met for more than three hours in a virtual summit last night, expressing a willingness to manage their differences but offering no specific breakthroughs (or even a joint post-meeting statement). “The acute challenges facing the globe - pandemics, economic growth, climate change, cybercrimes - will be virtually impossible to meet.” companies don’t operate in China, “it will be difficult to maintain their global leadership when British, European and Japanese firms do.” “Wholesale financial decoupling is impossible,” he will say, and even a partial split between the countries’ financial systems “is likely to make the United States, China and the world more susceptible to financial crises.” In his speech, Paulson outlines some of the biggest problems that a growing rift between the world’s two biggest economies could cause: “The world is heading for a very dangerous place” if Washington and Beijing can’t find ways to cooperate, Paulson plans to say at the Bloomberg New Economy Forum in Singapore, an event that was moved from China earlier this year. But in a speech he will deliver today, shared with DealBook, Paulson is sounding the alarm louder than ever. Since Donald Trump’s election, Paulson has warned that U.S.-China relations are deteriorating. have as much expertise on China as Hank Paulson, the former Treasury secretary and Goldman Sachs C.E.O. and Beijing to tone down the rhetoricįew financial leaders in the U.S.