Harvard University’s endowment fell to $30.7 billion in the latest fiscal year after experiencing a 0.05 percent loss in investments. The slight decline of the largest endowment in higher education is a substantial reversal from fiscal year 2011, when the school reported a 21.4 percent return on investments. Equities in emerging markets were hit particularly »
The University of Pennsylvania became the first Ivy League institution to report the performance of its endowment in fiscal year 2012 today, posting a 1.6 percent return on investments. The slight gain, which brought the value of Penn’s endowment to $6.8 billion as of June 30, is significantly weaker than the 18.6 percent return the »
The Board of Aldermen unanimously approved New Haven’s $486.4 million budget in a 40-minute special meeting Tuesday night. The budget — the product of almost three months of public hearings and negotiations between Mayor John DeStefano Jr.’s administration and the labor-backed majority on the Board — was largely unchanged from DeStefano’s original proposal in March. »
John Mazzuto ’70 — the former CEO of automotive chemical company Industrial Enterprises of America, Inc. and a Yale donor — was sentenced to between 1.5 and 4.5 years in prison Tuesday. The former CEO was part of a $60 million stock fraud scheme, a portion of which was used to make a $1.7 million »
Next time they’re in New Haven, certain economists might consider stopping by Stephen Roach’s “Next China” class. Roach, the former chairman of Morgan Stanley Asia, said at a conference in Shanghai last week that speculation that the Chinese economy will enter a hard landing are “vastly overblown,” according to a report from Bloomberg. China has »