Finance

Americas

What Jeffrey Epstein Did to Earn $158 Million From Leon Black

Mr. Epstein specialized in aggressively pitching ways to minimize paying taxes. And not just to Mr. Black, the private equity chief executive who was his main benefactor in his later years.He styled himself as a math whiz and “financial doctor” to the rich — even though he was a college dropout who had only a brief tenure at a traditional Wall...

Executive Director, Gilliam Center of Entrepreneurship – James Madison University

James Madison University (JMU) seeks an innovative, forward-thinking and visionary leader to serve as its next Executive Director of the Gilliam Center for Entrepreneurship (GCFE). Located in Virginia’s beautiful Shenandoah Valley, James Madison University is a highly selective, diverse, comprehensive, student-oriented institution with an approximate...

Washington Post Editor Marty Baron to Retire

The Post’s executive editor, 66, said he would depart on Feb. 28.Martin Baron, the executive editor of The Washington Post, will retire at the end of February, the publication announced Tuesday.Mr. Baron said in a note to The Post’s newsroom that he had committed to staying at the Post through the presidential election and would retire on Feb. 28.“At...

Watch Biden Commerce Nominee Gina Raimondo Testify: Live Updates

On Tuesday, Gov. Gina Raimondo, President Biden’s pick for commerce secretary, will appear before the Senate Commerce Committee for a confirmation hearing.Kriston Jae Bethel for The New York TimesGov. Gina M. Raimondo, the Biden administration’s nominee to be the next Commerce secretary, told lawmakers on Tuesday that she plans to help American...

Company Earnings Could Show How Detached Stocks Are From Reality: Live Updates

Tesla is among the giants reporting earnings this week.An Rong Xu for The New York TimesEvery three months, corporate America gives investors a look at its books — offering updates on how sales and profits fared in the latest quarter, and usually providing a sense of what to expect from the rest of the year.It can be an important period for the...

Europe

20VC: Evernote & mmhmm Founder Phil Libin on Why We are Beginning a Multi-Trillion Dollar Restructuring of the World, Why Shortcuts are the Biggest Mistakes Startups Make & The Future of Video and The Unbundling of Zoom

Phil Libin is the Founder and CEO @ mmhmm, the app that allows you to level up your remote presentations, making high-quality video content in minutes. To date, Phil has raised over $30M for the company from an incredible investor base including Sequoia, Kevin & Julia Hartz, Tony Fadell, Instagram’s Kevin Systrom and Mike Krieger and Brianne...

20VC: Hims Founder Andrew Dudum on Hims Going Public, The Reasoning and Benefits of SPACs, The Biggest Misconceptions of Successful Company Building & Wall St’s Changing Perceptions Towards Growth and Profitability

Andrew Dudum is the Founder & CEO @ Hims & Hers, offering a modern approach to health and wellness and one of the fastest-growing companies to reach $1Bn. Prior to their going public on Tuesday this week, Hims raised over $158M from some of the best including Thrive, Forerunner, Founders Fund, IVP, Redpoint and more. As for Andrew, alongside...

20VC: Etsy CEO, Josh Silverman on 2 Defining Traits of Great Leadership, The Danger of Attaching Happiness To Milestones, How To Structure Teams To Optimise for Experimentation and Agility &Whether You Learn More From Success Than Failure

Josh Silverman is the CEO @ Etsy, leading the company as it builds a platform that empowers creative entrepreneurs around the world. Prior to their IPO, Etsy raised funding from some of the best in the business including Danny Rimer @ Index, Albert Wenger @ USV and Jim Breyer @ Accel to name a few. Prior to Etsy, Josh served The post 20VC: Etsy CEO,...

20VC: Databricks CEO, Ali Ghodsi on The 3 Phases of Startup Growth, How to Evaluate Risk and Downside Scenario Planning & Who, What and When To Hire When Scaling Your Go-To-Market

Ali Ghodsi is the Founder & CEO @ Databricks, bringing together data engineering, science and analytics on an open, unified platform so data teams can collaborate and innovate faster. To date, Ali has raised over $897M for the company including from the likes of a16z, NEA, Microsoft, Battery, Coatue, Greenbay and more. Prior to Databricks, Ali was...

20VC: Annie Duke on Reversible vs Irreversible Decisions, How To Evaluate Risk, The Theory of Sunk Cost in Venture & How to Optimise Both the Discussion and Quality of Investment Decisions

Annie Duke is a former professional poker player and the author of National Bestseller, “Thinking in Bets” & “How To Decide”. During her poker playing days, Annie was a World Series of Poker bracelet winner, the winner of the 2004 Tournament of Champions and the only woman to win the NBC National Poker Heads Up Championship....

Mena

Khalifa Haftar is losing ground and lashing out in Libya

KHALIFA HAFTAR’S self-styled Libyan National Army (LNA) says it will cease fire for what remains of the holy month of Ramadan. But friends of General Haftar say he is doubling down on the civil war he started six years ago. His year-long siege of Tripoli, seat of the UN-backed Government of National Accord (GNA), has intensified of late. Groups loyal...

Saudi Arabia stops flogging

“THE FORNICATRESS and the fornicator—flog each of them with a hundred stripes; and do not let pity for them hold you back from carrying out God’s law.” So says the Koran, which dates back to the seventh century. Prince Muhammad bin Salman, the de facto ruler of Saudi Arabia, is trying to drag the kingdom into the 21st. So on April 25th the government...

Zambia was already a case study in how not to run an economy

“I FEEL YOUR PAIN,” said Edgar Lungu in a televised address on April 24th. The president of Zambia claimed that covid-19 had “thrown into disarray” the country’s finances. He mused about whether the government could afford to pay for pensions, civil-service salaries and medicine. “Where will the money come from?” It is a good question....

How Sudan’s warlords buy their gun trucks

THE TOYOTA HILUX is a sturdy vehicle. That makes it especially popular in Africa. It outsells all other pickup trucks, or “bakkies”, in South Africa. In Mali and Niger smugglers transporting people and goods across the Sahara will accept no alternative, since they can cram 30 people onto one and can still climb a sand dune. It is also a familiar...

Some African politicians risk spreading covid through quackery

Editor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For our coronavirus tracker and more coverage, see our hub MANY AFRICAN politicians are fighting covid-19 with tools prescribed by science. South...

International

Italy: “Solidarity Contribution” Reducing Pensions for Five Years Ruled Unconstitutional

(Jan. 8, 2021) On November 9, 2020, Italy’s Constitutional Court declared unconstitutional a provision in the country’s budget act for the years 2019 to 2021 that reduces certain pensions for a period of five years. (Decision No. 234 of November 9, 2020  (in Italian).) Pensions Reduced Under Budget Law’s “Solidarity Contribution”...

Qatar: New Cabinet Resolution Regulating Real Estate Ownership by Foreign Nationals

(Jan. 5, 2021) On October 6, 2020, Qatar’s Ministry of Justice announced the establishment of the Office for Non-Qatari Real Estate Ownership. The main objective of this office is to provide foreign nationals who want to reside or invest in the state of Qatar with all the necessary requirements for the purchase and sale of […]Read More

Italy: Government Decrees Further Measures to Fight the Covid-19 Pandemic

(Dec. 30, 2020) On November 30, 2020, Italy’s government issued Decree-Law No. 157, which includes further measures to tackle the Covid-19 pandemic. Extension of Terms for the Payment of Certain Taxes The new legislation extends, until December 10, 2020, the term for the payment of income taxes and IRAP (a regional tax for productive activities)...

Algeria: National Bank Officially Launches Islamic Banking

(Nov. 23, 2020) On August 4, 2020, Algeria’s National Bank officially launched Islamic banking as the first state-owned bank to practice Islamic banking services in Algeria. The launching of Islamic banking on the level of state-owned banks is in accordance with the government’s efforts to establish a more effective and diversified national...

Ecuador: Humanitarian Support Law Enacted to Address COVID-19 Economic Emergency

(Sept. 21, 2020) The Organic Law on Humanitarian Support, enacted on June 22, 2020, declares COVID-19 an economic emergency in Ecuador and seeks to mitigate the health, economic, and social crises it has caused. The Law includes a provision on the termination of employment relationships due to unforeseeable circumstances or a force majeure. Other key...