A Michelin-starred production - The New York Times

Fed officials are retiring early amid trade controversy. Robert Kaplan, boss of the Dallas Fed, and Eric Rosengren, chairman of the Bosto...

Fed officials are retiring early amid trade controversy. Robert Kaplan, boss of the Dallas Fed, and Eric Rosengren, chairman of the Boston Fed, both announced yesterday that they would leave their posts. They found themselves embroiled in a controversy over trading in securities that could have benefited from the Fed’s emergency interventions in the market last year.

China suffers from major blackouts. Environmental restrictions, rising coal prices and other factors have led to vast electricity shortages. This has forced some factories to close, scolding global supply chains and leading economists to cut their forecasts for China’s growth.

DealBook’s phone rang about Ozy Media. It’s the digital media company that was trying to raise $ 40 million from Goldman Sachs in February, until its co-founder and COO, Samir Rao, was caught posing as a YouTube executive on a conference call with Goldman bankers about point-of-sale video reach. . “We fully support our figures and our performance”, Carlos Watson, CEO of Ozy, said in a press release respond to the call and the audience measurements of the point of sale.

Here are a few other things on our minds the day after Ben Smith from The Times broke the news on the conference call that went awry:

Being part of the “in club” is a powerful attraction. Goldman Sachs may have died, but the bank’s co-chief information officer George Lee has invested in Ozy, as has his former co-head of the investment bank, Gregg Lemkau, according to DealBook. Other big names who have invested in Ozy since its inception in 2013 include Marc Lasry, the billionaire co-owner of the Milwaukee Bucks; Laurene Powell Jobs, in several rounds via her Emerson Collective; and LionTree, whose founder Aryeh Bourkoff is considered one of the most connected investors in the media.

A few weeks ago, Ozy named Lasry president of the company. Watson says Axios back in the days when Lasry, who was already on the board of directors, was “very practical and helpful.” Of Goldman’s conference call, Lasry told The Times, “The board has been made aware of the incident and we fully support the way it has been handled. “

Powell Jobs distances himself from Ozy and Emerson did not participate in Ozy’s last investment round. LionTree’s investment in 2019 was small and the company does not have an ongoing relationship with the company.

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Newsrust - US Top News: A Michelin-starred production - The New York Times
A Michelin-starred production - The New York Times
Newsrust - US Top News
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