A star-studded production – The New York Times
Fed officials take early retirement amid trade controversy Dallas Fed Chairman Robert Kaplan and Boston Fed Chairman Eric Rosengren Both announced yesterday that they would abandon their positions. They became embroiled in controversy for trading securities that could have benefited from the Fed’s emergency market interventions over the past year.
China is suffering from major power outages. Environmental regulations, the rising price of coal and other factors have led to this extensive power shortage. This has forced some factories to close, affecting global supply chains and leading economists cut their forecasts for China’s growth.
The fundraising that gets everyone talking
DealBook’s phone kept ringing Ozy media. This is the buoyant digital media company that tried to raise $40 million from Goldman Sachs in February until its co-founder and chief operating officer, Samir Rao, was caught speaking out on a conference call with Goldman investors about the Output video reach of the outlet as a YouTube manager. “We stand behind our numbers and performance,” said Carlos Watson, CEO of Ozy. said in a statement Answering the call and point of sale audience numbers.
Here are a few more things to keep us busy the day after The Times’ Ben Smith broke the news about the conference call gone awry:
Being part of the “in club” is a powerful draw. Goldman Sachs may have passed, but the bank’s co-chief information officer, George Lee, has invested in Ozy, as has its former co-head of investment banking, Gregg Lemkau, DealBook hears. 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 multiple rounds about her Emerson Collective; and LionTree, whose founder Aryeh Bourkoff is recognized as one of the most involved media investors.
A few weeks ago, Ozy appointed Lasry as chairman of the company. watson said Axius at that time Lasry, who was already a member of the board, was “very hands-on and helpful”. Speaking on the Goldman conference call, Lasry told The Times, “The incident has been brought to the attention of the board and we fully support the manner in which it was handled.”
Powell Jobs is distancing himself from Ozy, and Emerson did not participate in Ozy’s recent investment round. LionTree’s investment in 2019 was small and the company has no ongoing business relationship with the company.