Columbia University agrees to pay $220M in deal with Trump administration
Columbia University has reached a deal with the Trump administration to pay more than $220 million to the federal government to restore federal research money that was cancelled in the name of combating antisemitism on campus, the university announced Wednesday.
Under the agreement, the Ivy League school will pay a $200 million US settlement over three years, the university said. It will also pay $21 million US to settle investigations brought by the U.S. Equal Employment Opportunity Commission.
"This agreement marks an important step forward after a period of sustained federal scrutiny and institutional uncertainty," acting university president Claire Shipman said.
The Trump administration pulled the funding because of what it described as the university's failure to squelch antisemitism on campus during the Israel-Hamas war that began in October 2023.
Columbia then agreed to a series of demands laid out by the Republican administration, including overhauling the university's student disciplinary process and adopting a new definition of antisemitism.
Agreement contains no admission of wrongdoing
Wednesday's agreement — which does not include an admission of wrongdoing — codifies those reforms while preserving the university's autonomy, Shipman said.
The school had been threatened with the potential loss of billions of dollars in government support, including more than $400 million US in grants cancelled earlier this year.
"The settlement was carefully crafted to protect the values that define us and allow our essential research partnership with the federal government to get back on track," Shipman said. "Importantly, it safeguards our independence, a critical condition for academic excellence and scholarly exploration, work that is vital to the public interest."
As part of the deal, Columbia agreed to a series of changes previously announced in March, including reviewing its Middle East curriculum to make sure it was "comprehensive and balanced" and appointing new faculty to its Institute for Israel and Jewish Studies. It also promised to end programs "that promote unlawful efforts to achieve race-based outcomes, quotas, diversity targets or similar efforts."
The university will also have to issue a report to a monitor assuring that its programs "do not promote unlawful DEI goals."
The pact comes after months of uncertainty and fraught negotiations at the more than 270-year-old university. It was among the first targets of U.S. President Donald Trump's crackdown on pro-Palestinian campus protests and on colleges that he asserts have allowed Jewish students be threatened and harassed.
Columbia's own antisemitism task force found last summer that Jewish students had faced verbal abuse, ostracism and classroom humiliation during the spring 2024 demonstrations.
Other Jewish students took part in the protests, however, and protest leaders maintain they aren't targeting Jews but rather criticizing the Israeli government and its war in Gaza.
WATCH | Protesters clash with police at U.S. university campuses:
U.S. campuses see clashes, arrests as Canadian encampments grow
1 year ago
Disciplinary action against student protesters
Columbia's leadership — a revolving door of three interim presidents in the last year — has declared that the campus climate needs to change.
Yesterday, the university announced disciplinary action against students who participated in a pro-Palestinian demonstration inside the school's main library before final exams in May and an encampment during alumni weekend last year.
A student activist group said nearly 80 students were told they have been suspended for one to three years or expelled. The sanctions issued by a university judicial board also include probation and degree revocations, Columbia said in a statement.
Wednesday's settlement also contains an agreement by Columbia to ask prospective international students "questions designed to elicit their reasons for wishing to study in the United States," and establishes processes to make sure all students are committed to "civil discourse."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
8 minutes ago
- Globe and Mail
Investors in Rocket Pharmaceuticals, Inc. (RCKT): Protect Your Rights - Contact Levi & Korsinsky Before August 11, 2025
New York, New York--(Newsfile Corp. - July 30, 2025) - If you suffered a loss on your Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: or contact Joseph E. Levi, Esq. via email at jlevi@ or call (212) 363-7500 to speak to our team of experienced shareholder advocates. Cannot view this video? Visit: THE LAWSUIT: A class action securities lawsuit was filed against Rocket Pharmaceuticals, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between September 17, 2024 and May 26, 2025. CASE DETAILS: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of RP-A501's safety and clinical trial protocol; notably, that Rocket knew Serious Adverse Events (SAEs), including death of participants enrolled in the study, were a risk. In particular, Rocket amended the trial's protocol to introduce a novel immunomodulatory agent to the pretreatment regimen without providing this critical update to shareholders. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Rocket's securities at artificially inflated prices. On May 27, 2025, Rocket announced that the FDA placed a clinical hold on the RP-A501 Phase 2 pivotal study after at least one patient suffered a Serious Adverse Event (SAE), ultimately, death, while enrolled in the study following a substantive amendment to the protocol that the Company failed to disclose to investors at the time management made the revision. In fact, Rocket stated that, while the patient was dosed in May, the decision to amend the protocol was made "several months" earlier. Despite this, Rocket made no attempt to alert investors or the public to the change until after the SAE occurred. Following this news, the price of Rocket's common stock declined dramatically. From a closing market price of $6.27 per share on May 23, 2025, Rocket's stock price fell to $2.33 per share on May 27, 2025, a decline of about 37% in the span of just a single trading day. WHAT'S NEXT? If you suffered a loss in Rocket stock during the relevant time frame - even if you still hold your shares - go to to learn about your rights to seek a recovery. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
Globe and Mail
8 minutes ago
- Globe and Mail
Most US stocks fall as hopes weaken for a September cut to interest rates
NEW YORK (AP) — Most U.S. stocks slipped on Wednesday after doubts rose on Wall Street about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September. The S&P 500 edged down by 0.1%, coming off its first loss after setting all-time highs for six successive days. The Dow Jones Industrial Average dropped 171 points, or 0.4%, and the Nasdaq composite rose 0.1%. Stocks felt pressure from rising Treasury yields in the bond market after the Federal Reserve voted to hold its main interest rate steady. The move may upset President Donald Trump, who has been angrily lobbying for lower interest rates, but it was widely expected on Wall Street. What may have surprised investors more was Fed Chair Jerome Powell's pushing back on expectations that the Fed could cut rates at its next meeting in September. Besides Trump, two members of the Fed's committee have also been calling for lower rates to ease the pressure on the economy, and they dissented in Wednesday's vote. But Powell would not commit to a September cut in rates, pointing to how inflation remains above the Fed's 2% target, while the job market still looks to be 'in balance.' A cut in rates would give the job market and overall economy a boost, but it could also risk fueling inflation when Trump's tariffs may be set to raise prices for U.S. consumers. The Fed's job is to keep both the job market and inflation in a good place. Trump on Wednesday announced a 25% tariff on imports coming from India, along with an additional tax because of India's purchases of Russian oil, beginning on Aug. 1. That's when stiff tariffs Trump has proposed for many other countries are also scheduled to kick in, unless they reach trade deals that lower the rates. 'The economy is in good shape, but it's in an unusual situation,' Powell said. He also said that the Fed will receive two months' worth of data on inflation, the job market and other economic indicators before it meets again to vote on rates in September. That could give the Fed more confidence that the risk of high inflation is no longer bigger than the risk of a weak job market, a combination that would prod officials toward lowering rates. Powell's comments drove traders to pare back bets on a cut in September. They now see just a 45% chance of that, down from a nearly 65% probability a day earlier, according to data from CME Group. The yield on the two-year U.S. Treasury note rose to 3.93% from 3.86% late Tuesday. It tends to closely follow expectations for what the Fed will do with its overnight interest rate. The 10-year Treasury, which also takes into account longer-term expectations for the economy and inflation, rose to 4.36% from 4.34%. A report earlier in the morning suggested the U.S. economy's growth was much stronger during the spring than economists expected. But underlying trends beneath the surface may be more discouraging. 'Cutting through the noise of the swings in imports, the economy is still chugging along, but it is showing signs of sputtering,' said Brian Jacobsen, chief economist at Annex Wealth Management. On Wall Street, Humana rose 12.4% after the insurer and health care giant reported stronger results for the spring than expected. It also raised its forecasts for profit and revenue over the full year. Video-game maker Electronic Arts climbed 5.7% after likewise topping Wall Street's expectations. Companies are under pressure to deliver solid profit growth. They need to in order to justify the big jumps in their stock prices during recent months, which has caused some critics to say the broad U.S. stock market looks too expensive. Trane Technologies, whose stock came into the day with a 27.5% gain for the year so far, tumbled even though it reported a stronger-than-expected profit for the latest quarter. The heating, ventilation and air conditioning company's revenue came up short of analysts' estimates, as did its forecast for profit in the current quarter. It dropped 8.4%. Freeport-McMoRan, a copper producer with mines around the world, tumbled 9.5% after Trump signed an executive order to tax imports of copper at 50%. Starbucks slipped 0.2% after reporting a weaker profit than analysts expected as it tries to turn around its operations. The company is hoping to boost its performance through improved store operations and new products, including a cold foam protein drink. All told, the S&P 500 slipped 7.96 points to 6,362.90. The Dow Jones Industrial Average dropped 171.71 to 44,461.28, and the Nasdaq composite rose 31.38 to 21,129.67. In stock markets abroad, indexes were mixed across Europe and Asia. Hong Kong's Hang Seng fell 1.4%, and South Korea's Kospi rose 0.7% for two of the bigger moves.
Globe and Mail
8 minutes ago
- Globe and Mail
StoneX Group Inc. to Announce 2025 Fiscal Third Quarter Earnings on August 5, 2025
NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX) today announced that it will release its fiscal 2025 third quarter results after the market close on Tuesday, August 5, 2025. Management will host a conference call on Wednesday, August 6, 2025 at 9:00 a.m. Eastern Time to review the Company's 2025 fiscal third quarter results. A live web cast of the conference call as well as additional information to review during the call will be made available in PDF form at Participants can also access the call via approximately ten minutes prior to the start time. Participants may preregister for the conference call here. For those who cannot access the live broadcast, a replay of the call will be available at About StoneX Group Inc. StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents. Further information on the Company is available at CONTACT: StoneX Group Inc. Investor Inquiries:
