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Harvard and Trump administration are nearing settlement including a $500 million payment

Harvard and Trump administration are nearing settlement including a $500 million payment

WASHINGTON: Harvard University and the Trump administration are getting close to an agreement that would require the Ivy League university to pay $500 million to regain access to federal funding and to end investigations, according to a person familiar with the matter.
The framework is still being sorted out with significant gaps to close, but both sides have agreed on the financial figure and a settlement could be finalized in coming weeks, according to the person who spoke to The Associated Press on the condition of anonymity to discuss internal deliberations. Harvard declined to comment.
The agreement would end a monthslong battle that has tested the boundaries of the government's authority over America's universities.
What began as an investigation into campus antisemitism escalated into an all-out feud as the Trump administration slashed more than $2.6 billion in research funding, ended federal contracts and attempted to block Harvard from hosting international students.
The university responded with a pair of lawsuits alleging illegal retaliation by the administration after Harvard rejected a set of demands that campus leaders viewed as a threat to academic freedom. Details of the proposed framework were first reported by The New York Times.
A $500 million payment would be the largest sum yet as the administration pushes for financial penalties in its settlements with elite universities.
Columbia University agreed to pay the government $200 million as part of an agreement restoring access to federal funding, while Brown University separately agreed to pay $50 million to Rhode Island workforce development organizations.
Details have not been finalized on where Harvard's potential payment would go, the person said.
The Republican president has been pushing to reform prestigious universities that he decries as bastions of liberal ideology. His administration has cut funding to several Ivy League schools while pressing demands in line with his political campaign.
None has been targeted as frequently or as heavily as Harvard, the richest US university with an endowment valued at $53 billion.
More than a dozen Democrats in Congress who attended Harvard cautioned against a settlement on Aug. 1, warning the university it may warrant 'rigorous Congressional oversight and inquiry.'
Capitulating to political demands, they said, would set a dangerous precedent across all of higher education.
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Three Republican-led states to deploy National Guard troops to US capital
Three Republican-led states to deploy National Guard troops to US capital

Indian Express

time12 minutes ago

  • Indian Express

Three Republican-led states to deploy National Guard troops to US capital

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The Trump administration wants to end the UN peacekeeping in Lebanon; Europe is pushing back
The Trump administration wants to end the UN peacekeeping in Lebanon; Europe is pushing back

Time of India

time26 minutes ago

  • Time of India

The Trump administration wants to end the UN peacekeeping in Lebanon; Europe is pushing back

The future of U.N. peacekeepers in Lebanon has split the United States and its European allies, raising implications for security in the Middle East and becoming the latest snag to vex relations between the U.S. and key partners like France, Britain and Italy. At issue is the peacekeeping operation known as UNIFIL , whose mandate expires at the end of August and will need to be renewed by the U.N. Security Council to continue. It was created to oversee the withdrawal of Israeli troops from southern Lebanon after Israel's 1978 invasion, and its mission was expanded following the monthlong 2006 war between Israel and the militant group Hezbollah. The multinational force has played a significant role in monitoring the security situation in southern Lebanon for decades, including during the Israel-Hezbollah war last year, but has drawn criticism from both sides and numerous U.S. lawmakers, some of whom now hold prominent roles in President Donald Trump's administration or wield new influence with the White House. Trump administration political appointees came into office this year with the aim of shutting down UNIFIL as soon as possible. They regard the operation as an ineffectual waste of money that is merely delaying the goal of eliminating Hezbollah's influence and restoring full security control to the Lebanese Armed Forces that the government says it is not yet capable of doing. After securing major cuts in U.S. funding to the peacekeeping force, Secretary of State Marco Rubio signed off early last week on a plan that would wind down and end UNIFIL in the next six months, according to Trump administration officials and congressional aides familiar with the discussions. Live Events It's another step as the Trump administration drastically pares back its foreign affairs priorities and budget, including expressing skepticism of international alliances and cutting funding to U.N. agencies and missions. The transatlantic divide also has been apparent on issues ranging from Israel's war against Hamas in Gaza and the Russia-Ukraine conflict to trade, technology and free speech issues. Europeans push back against a quick end to UN peacekeeping in Lebanon Israel has for years sought an end to UNIFIL's mandate, and renewal votes have often come after weeks of political wrangling. Now, the stakes are particularly high after last year's war and more vigorous opposition in Washington. European nations, notably France and Italy, have objected to winding down UNIFIL. With the support of Tom Barrack, U.S. ambassador to Turkey and envoy to Lebanon, they successfully lobbied Rubio and others to support a one-year extension of the peacekeeping mandate followed by a time-certain wind-down period of six months, according to the administration officials and congressional aides, who spoke on condition of anonymity to discuss private diplomatic negotiations. Israel also reluctantly agreed to an extension, they said. The European argument was that prematurely ending UNIFIL before the Lebanese army is able to fully secure the border area would create a vacuum that Hezbollah could easily exploit. The French noted that when a U.N. peacekeeping mission in Mali was terminated before government troops were ready to deal with security threats, Islamic extremists moved in. With the U.S. easing off, the issue ahead of the U.N. vote expected at the end of August now appears to be resistance by France and others to setting a firm deadline for the operation to end after the one-year extension, according to the officials and congressional aides. French officials did not respond to requests for comment. The final French draft resolution, obtained by The Associated Press, does not include a date for UNIFIL's withdrawal, which U.S. officials say is required for their support. Instead, it would extend the peacekeeping mission for one year and indicates the U.N. Security Council's "intention to work on a withdrawal." But even if the mandate is renewed, the peacekeeping mission might be scaled down for financial reasons, with the U.N. system likely facing drastic budget cuts, said a U.N. official, who was not authorized to comment to the media and spoke on condition of anonymity. One of the U.S. officials said an option being considered was reducing UNIFIL's numbers while boosting its technological means to monitor the situation on the ground. The peacekeeping force has faced criticism There are about 10,000 peacekeepers in southern Lebanon, while the Lebanese army has around 6,000 soldiers, a number that is supposed to increase to 10,000. Hezbollah supporters in Lebanon have frequently accused the U.N. mission of collusion with Israel and sometimes attacked peacekeepers on patrol. Israel, meanwhile, has accused the peacekeepers of turning a blind eye to Hezbollah's military activities in southern Lebanon and lobbied for its mandate to end. Sarit Zehavi, a former Israeli military intelligence analyst and founder of the Israeli think tank Alma Research and Education Center, said UNIFIL has played a "damaging role with regard to the mission of disarming Hezbollah in south Lebanon." She pointed to the discovery of Hezbollah tunnels and weapons caches close to UNIFIL facilities during and after last year's Israel-Hezbollah war, when much of the militant group's senior leadership was killed and much of its arsenal destroyed. Hezbollah is now under increasing pressure to give up the rest of its weapons. U.N. spokesman Stephane Dujarric said UNIFIL continues to discover unauthorized weapons, including rocket launchers, mortar rounds and bomb fuses, this week, which it reported to the Lebanese army. Under the U.S.- and France-brokered ceasefire, Israel and Hezbollah were to withdraw from southern Lebanon, with the Lebanese army taking control in conjunction with UNIFIL. Israel has continued to occupy five strategic points on the Lebanese side and carry out near-daily airstrikes that it says aim to stop Hezbollah from regrouping. Lebanon supports keeping UN peacekeepers Lebanese officials have called for UNIFIL to remain, saying the country's cash-strapped and overstretched army is not yet able to patrol the full area on its own until it. Retired Lebanese Army Gen. Khalil Helou said that if UNIFIL's mandate were to abruptly end, soldiers would need to be pulled away from the porous border with Syria, where smuggling is rife, or from other areas inside of Lebanon - "and this could have consequences for the stability" of the country. UNIFIL "is maybe not fulfilling 100% what the Western powers or Israel desire. But for Lebanon, their presence is important," he said. The United Nations also calls the peacekeepers critical to regional stability, Dujarric said. UNIFIL spokesperson Andrea Tenenti said deciding on the renewal of the mandate is the prerogative of the U.N. Security Council. "We are here to assist the parties in implementation of the mission's mandate and we're waiting for the final decision," he said.

Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week
Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week

Time of India

time27 minutes ago

  • Time of India

Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week

Indian benchmark indices finally ended their six-week losing spree to end 1% higher every week. A host of important domestic and global events scheduled for the week are likely to impact stock markets when they resume trading on Monday. On Thursday, Nifty closed 11.95 points or 0.05% higher to end the day at 24,631.30. The markets were closed on Friday on account of Independence Day. Commenting on the current trends Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking said that markets staged a strong rebound as the Nifty index ended its six-week losing streak and formed a bullish candle on the weekly chart. The index reclaimed its 100-DMA at 24,560, which will now serve as an immediate support, he said. "Over the past month, the Nifty has struggled to cross its short-term 21-DMA at 24,770. A decisive move above this level is crucial to unlock further upside towards 25,000. The RSI has turned higher to 44, indicating improving momentum, while the MACD remains below the zero line. Although sentiment has improved, a clear confirmation of a trend reversal is still awaited." Factors that are likely to impact movement when markets reopen this week: 1. Trump-Putin talk The understanding reached between US President Donald Trump and Russian President Vladimir Putin on the Ukraine issue on Friday is expected to lift market sentiment when trading resumes on Monday. Although the two leaders stopped short of striking a deal to end the war, Putin said they had arrived at an 'understanding.' Their nearly three-hour meeting in Alaska did not produce a ceasefire, but Trump described it as a 'very good meeting,' while cautioning that 'there's no deal until there is a deal. Read more – Explained: How Nifty, Sensex may react to Trump-Putin talks and Modi's GST tax reform on Monday? 2. GST reform Prime Minister Narendra Modi's Independence Day announcement of major Goods and Services Tax (GST) reforms this Diwali could boost investor sentiment, opine experts. Speaking from the Red Fort on Independence Day, Modi on Friday announced rate cuts to be rolled out by Diwali in the GST 2.0. The PM said GST rates will be lowered on everyday-use goods as part of reforms to the eight-year-old tax regime. 3. US markets The action on Wall Street will give cues to the global markets including India. Wall Street's two major indices finished with declines while the Dow managed to remain afloat in the green. A mixed US economic data led to the souring in sentiments. While the US retail sales climbed 0.5% in July from June, the Federal Reserve's index for industrial production edged down The Dow 30 ended the session at 44,946.10, gaining 34.86 points or 0.08% while S&P 500 settled at 6,449.80, down by 18.74 points or 0.29%. The Nasdaq Composite closed at 21,623, falling by 87.69 points 0.40%. 4. Corporate Action Just about 100 companies have corporate actions lined-up this week with record dates for dividends, rights issue, stock split and bonus shares for more than 100 companies over the five-day trading week. The companies which will have record dates for the purpose of dividend are JK Paper, Jammu & Kashmir Bank, Natco Pharma, Power Grid Corporation of India, Senco Gold, Coal India, Hindustan Aeronautics (HAL), Rail Vikas Nigam (RVNL), Federal Bank, Godfrey Phillips India and Indian Railway Catering and Tourism Corporation (IRCTC). Algoquant Fintech's record date will be for the purpose of stock split, Josts Engineering Company for rights issue and Bemco Hydraulics for bonus issue. 5. IPO watch It will be an IPO heavy week as 5 mainboard issues and one SME issue will hit the Indian primary markets. In the mainboard category, Patel Retail, Vikram Solar, Gem Aromatics, Shreeji Shipping Global and Mangal Electrical Industries will launch their public issues. In the SME segment, Studio LSD will launch its IPO and the stock will get listed on the NSE Emerge platform. Also Read: Vikram Solar, 5 other IPOs to open next week. Here's what GMPs suggest 6. FII / DII Action Market actions will rely on how foreign institutional investors (FIIs) behave. Foreign Institutional Investors (FIIs) sold shares worth Rs 10,173 crore last week. On Friday, FIIs outflows stood at Rs 1,926.8 while the domestic institutional investors were net buyers at Rs 3,896 crore. In 2025 so far, FIIs have sold shares worth Rs 1,16,617 crore. lso Read: FIIs sell Indian equities worth Rs 20,975 crore in August so far. Can Trump-Putin's Ukraine 'understanding' reverse trends? 7. Technical Factors Santosh Meena, Head of Research at Swastika Investmart said that the extreme oversold conditions and supportive global cues lifted investor sentiment though momentum remained muted due to persistent foreign outflows. Broader markets staged a recovery across sectors, led by pharma and auto stocks, though FMCG lagged, he added. From a technical standpoint, the Nifty has established a strong base at the 24,350 level, forming a bullish engulfing candlestick pattern on the weekly chart, Meena said. "The immediate resistance lies at the 20 and 50-day moving averages (DMAs) clustered around 24,700-24,800. A decisive break above this level could trigger a short-covering rally towards 24,950, 25,080, and 25,225. Immediate support is at the 100-DMA of 24,575, with the crucial support level remaining at 24,350," he added. 8. Rupee Vs Dollar The rupee closed at 87.5500 against the U.S. dollar, softer than Wednesday's close of 87.4400, navigating a choppy session that saw it swing between 87.39 and 87.67. The currency unit touched 87.8850 last week after Trump's tariffs salvo, with the Reserve Bank of India stepping in to prevent the rupee from breaching the all-time low of 87.95 - a level bankers believe the central bank will continue to defend. "In the shorter term, we may see some relief on the ratings upgrade, but the rupee is still not out of the woods as trade uncertainties persist and broad economic indicators are still weak," said Dilip Parmar, currency analyst at HDFC Securities. 9. Crude Oil Crude oil prices cooled on Friday in light of the Trump-Putin meeting. Moreover, quoting analysts Reuters reported that premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends. The US WTI oil contracts ended at $63.14, down by $0.82 or 1.28% while Brent oil futures were hovering near $65.85, higher by $0.71 or 1.06%. (Inputs from agencies)

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