Yale Signals That Private Equity May Have Peaked
Four years on, Yale is reportedly preparing to sell up to $6 billion in private equity holdings. ('The university is exploring a sale of private equity fund interests,' a university spokesperson told the Yale Daily News.) That represents almost 15% of the fund's $41.4 billion of assets, and around 30% of its private equity investments, based on data in Private Equity International 's 2024 rankings.
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Yahoo
15 hours ago
- Yahoo
What is the best college in Connecticut? Niche ranks 7 best universities for 2025
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Boston Globe
a day ago
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American businesses in ‘survival mode' as Trump tariffs pile up
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up May, 78, said he went into 'survival mode.' He laid off staff and cut expenses drastically. His team worked 12 hours a day trying to find new customers. He made it through the shock, but the business is facing big challenges. Advertisement 'We're hanging on by a thread,' he said. 'We've been doing everything possible. We're working harder just to stay in business.' Just over six months into Trump's campaign to rebalance global trade, some American small businesses are already on the brink. Others have chosen to throw in the towel. Last week, the United States and China agreed to extend, by another 90 days, a pause on tariffs that would have soared to a catastrophic 145%, averting a worst-case scenario -- a complete halt of trade between the world's two largest economies. Advertisement But the pause has done nothing for many American small-business owners paying the tariffs it left in place, such as a minimum 30% duty for goods from China or a 50% import tax on products made from foreign steel and aluminum. The average effective U.S. tariff rate soared to 18.6% in early August, the highest level in more than 90 years, from 2.5% when Trump took office in January, according to the Budget Lab at Yale, a research center. Many businesses stockpiled key supplies and components before the tariffs took effect, but the full effect of the import taxes is becoming more apparent as those reserves dwindle, dealing a final blow to some companies already struggling with other challenges. Howard Miller, a family-owned manufacturer of handcrafted clocks and home furniture based in Zeeland, Michigan, said last month that it planned to shut down operations next year after 99 years in business. The company, which employs nearly 200 people at factories in Michigan and North Carolina, said in a statement that it was already grappling with a soft housing market when tariffs hit supply chains and 'sparked recession fears.' 'Our business has been directly impacted by tariffs that have increased the cost of essential components unavailable domestically and driven specialty suppliers out of business, making it unsustainable for us to continue our operations,' said Howard J. Miller, the company's CEO and grandson of its founder. In July, Jennifer Bergman, 58, closed West Side Kids, a toy store in New York City founded by her mother 44 years ago. She said that operating a toy shop in the age of Amazon was already difficult, but that the tariffs made it impossible to go on. The prices for everything from her bestselling scooters to inexpensive knickknacks went up, and she spent most of her days dealing with price increases. She also said she found that people were more hesitant to spend because they feared the effect of tariffs on the economy. Advertisement As Bergman looked at her finances in June, she realized that she would struggle to make rent in July. She said sales representatives from toy brands had told her that other shops were struggling, too. 'They think I'm the first to fall, but that others are going to follow,' Bergman said. Sari Wiaz, owner of Baby Paper, which makes paper-like toys, said the tariffs on her products imported from China had been 'devastating.' Her costs are up 25%, and the uncertainty is making it hard to plan for the future. Wiaz, 67, noted a stark contrast to the support that communities and the government had provided to small businesses during the COVID-19 pandemic, a period that also caused local business to collapse. In a networking group for small manufacturers, she said, she noticed that many otherwise scrappy business owners were 'starting to give up.' This article originally appeared in
Yahoo
2 days ago
- Yahoo
Ex-White House crypto lead Bo Hines joins Tether as $167bn stablecoin giant eyes US entrance
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