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Zelensky Asks Businesses to Join a ‘Marshall Plan’ for Ukraine

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Ukrainian President Volodymyr Zelensky this month announced by the country was assembling a team of bankers and researchers to solicit investment from private companies and help pay for Ukraine’s reconstruction. According to Zelensky, the team effectively Ukrainian Marshall Plana US program that provided aid to Western Europe after World War II.

Yesterday, DealBook spoke with Ukrainian Prime Minister Denis Shmykhal about what it takes to rebuild Russia’s war-torn country.

Ukraine estimates it will cost $750 billion. Shmyhal said the country hopes to develop a fund to invest the money raised for post-war reconstruction. The original rationale was to confiscate Russian assets, but Ukraine is also seeking help from private companies, he said. Zelensky met virtually with BlackRock’s Larry Fink last week, and Shmichal said Ukrainian officials will meet with other U.S. business executives this week.

Guaranteeing your investment can be an option fundraising during the war. “All private companies understand that losses can occur the moment a rocket missile flies in and destroys it.”

Transparency and anti-corruption efforts are keyAnti-corruption watchdog Transparency International ranked Ukraine 122nd out of 180 countries in last year’s Corruption Index. Schmichal said the country’s bid to join the European Union had strict anti-corruption requirements and was taking steps to protect investments in its recovery. He said he reported on how Ukraine is spending global aid to the World Bank. You will be invited to participate on a report basis.”

No matter how much money Ukraine raises, geography will be a challenge. Unlike the 16 countries that received Marshall Plan aid, Ukraine keep neighbors — Russia — hoping to take over (and other neighbors, such as Belarus, who sympathize with Moscow’s views.) Also complicating Ukraine’s aid pitch is the war Tired. Inflation, especially food and energy prices, has skyrocketed since the start of the war, and some in the West have lost their resolve to engage in further relief efforts.

The dollar is expanding its dominance over other currencies. The British pound, euro and Swiss franc have all fallen against the dollar, hitting multi-year lows in the first two years as investors seek safe haven. Risky assets, including stocks, continue to fall after recent moves by several countries’ central banks to raise interest rates to fight inflation.

Boeing has paid a $200 million settlement for securities fraud charges. The fine settles an SEC investigation into whether the aircraft maker misled investors about the 737 Max problem. Former Boeing CEO Dennis Muilenberg will pay a $1 million fine.

World Bank president moves to soften criticism of climate change. Donald Trump’s nominee David Malpass has said he believes human activity is warming the planet, days after he publicly refused to say so. It accuses us of not doing enough to help countries affected by climate disasters.

The SEC reportedly won’t ban payment for order flow. Upcoming Stock Trading Rules by Regulators stop short Bloomberg says it prevents market makers from paying retail intermediaries to execute trades for their customers.The SEC could introduce provisions that would make the practice less profitable.

Apple sponsors the Super Bowl halftime show. The NFL announced yesterday that the iPhone maker will replace Pepsi as a backer of the event. However, Apple and the league are still negotiating a much larger deal. That’s the streaming rights for the Sunday Ticket game the NFL wants for his $2.5 billion.

Yesterday, 1,400 current and former Goldman Sachs executives and employees released unsealed records, suing the company for gender bias. This has shed new light on their claim that an illegal “boys club” culture permeates there. A lawsuit alleging compensation and performance discrimination was filed in his 2010 Trial scheduled for June in New York federal court.

Kelly Dermody, partner at Lieff Cabraser, who is co-leading the plaintiffs’ litigation with Outten & Golden, told DealBook: Goldman did not respond to a request for comment.

Determine corporate culture. In court documents, one woman said it was “widely known” that the unnamed managing director was “unsuitable for young women.” “I’m scared to be with him” left her. Altogether, 133 Goldman investment banking, investment management and securities staff members reported incidents of discrimination, sexual harassment, assault and retaliation. The lawsuit covers discrimination allegations that began in 2002. A male manager said he organized trips to strip clubs and golf gatherings to deliberately exclude women. Furthermore, it alleges that managers are “engaging in gender stereotypes, sexual harassment, and/or gender bias,” including performance reviews.

Shareholders want answers. last yearan investor group believes that a bank’s mandatory arbitration policy, intended to help protect bank confidentiality, allows it not to address harassment or discrimination, limits legal remedies, and ensures that employees are not guilty of recidivism. We expressed concern that it might interfere with learning. reported by the bank A review of dispute resolution policies found them to be sound and largely uncoordinated.

About 700 of the putative plaintiffs were originally excluded from the class action due to the bank’s arbitration process. Hundreds have opted in since.


This morning, UK Finance Minister Kwasi Kwarten introduced a long-awaited set of new policies, including sweeping deregulation and a series of tax cuts. The plan was intended to recall the policies of the Thatcher era, but came at a difficult time for Britain’s finances.

Here’s what to expect:

  • Tax reduction: In a surprise move, Kwarteng plans to abolish the UK’s top income tax rate of 45% for those earning over £150,000 (about $169,000) a year and lower the basic tax rate for low-income earners. Kwarteng also said the government would abandon corporate tax hikes and national insurance premium hikes and lower taxes on home purchases.

  • Deregulation: The government will remove the cap on bankers’ bonuses. This is a move made possible by Brexit, which aims to strengthen London’s competitiveness as a global financial center. It will also end the ban on fracking and streamline construction planning laws.

Kwarteng pitched the move as a way to revitalize the UK economy. The goal is to return to annual growth of 2.5%, a level not seen since the 2008 financial crisis. Since being elected prime minister, Liz Truss has pledged to return to the small-government, business-oriented ethos of Margaret Thatcher, Margaret Thatcher’s political idol and touchstone of the ruling Conservative Party.

This strategy is a high-level financial act. Truss already plans to subsidize rising energy costs for consumers and businesses, which will take advantage of a wave of government borrowing. After Kwarteng’s announcement, British government bonds plummeted, as did the stock price of his FTSE 100 index in London. The pound fell to his 37-year low of $1.10. “The pound is in danger of falling further,” George Saravelos, global head of foreign exchange research at Deutsche Bank, warned in a note to clients this morning.

Economists and investors are concerned about the dire economic outlook for the UK due to rising inflation and higher interest rates. An independent report this week said that the widely telegraphed budget proposal would “make Britain’s financesunsustainable road

There are also political risks. Polls suggest Britons prefer tax increase Increased government spending on areas such as health care and education.And the salary limit for bankers is terribly unpopularTruss and Kwarteng hope to see moves toward economic recovery ahead of the 2024 general election.


— Marc Porter, chairman of Christie’s Americas, compared Microsoft co-founder Paul Allen, who died in 2018, to two historically important collectors. Auction in November The 150 paintings from Allen’s estate are expected to be worth more than $1 billion.


A four-day work week has long been a workplace dream. In 1956, then-Vice President Richard Nixon said he foresaw it “in the not too distant future”.

In June, more than 70 UK companies decided to test the idea in a pilot program that would allow workers to take an extra day off per week. Attended by more than 3,300 of his workers in banking, marketing, healthcare, financial services, retail, hospitality and other industries.

productivity test. Halfway through the six-month trial, 46% of responding companies Investigation Jenny Gross of The Times says they haven’t seen a drop in productivity, with 15% saying they’ve even seen a significant improvement. She also said that 86% of her in companies are “likely” or “very likely” to consider continuing the four-day week after the trial.

But can the economy sustain a reduction in the workweek? Proponents say a four-day work week improves employee health and makes them more present and effective. Critics were concerned about increased costs and reduced competitiveness. And it may be too early to say what effect shorter working hours will have on corporate earnings.

bargain

  • Activist investor Ancora buys retailer Kohl’s Succeeds Michel Gas as CEO Peter Vornperth becomes chairman. (CNBC)

  • Activist investor Jana Partners is said to have bought about a 10% stake. Pet food company “Fresh Pet”, plans to change strategy or drive sales. (WSJ)

  • Humana and CVS He is one of the bidders for KanoHealth, a primary care provider that could reportedly sell for more than $4 billion. (WSJ)

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