"We believe Jane is the right person to build on Mike’s record and take Citi to the next level. She has deep experience across our lines of business and regions and we are highly confident in her. Jane’s ability to think strategically and also operate a business are a unique combination that will serve our company well," John Dugan, the Chair of Citi's board, said in a statement. … [Read more...] about Here’s all you need to know about Citi’s new CEO Jane Fraser
At stake is New York’s financial health and its status as the world’s corporate headquarters. There is more square feet of workspace in the city than in London and San Francisco combined, according to Cushman & Wakefield, a real estate brokerage firm. Office work makes up the cornerstone of New York’s economy and property taxes from office buildings account for nearly 10% of the city’s total annual tax revenue. … [Read more...] about COVID-19 | Manhattan’s office buildings are empty. But for how long?
In the journal Nature Climate Change , the economists Francisco Estrada, W.J. Wouter Botzen, and Richard S.J. Tol write that this “local” form of climate change will deeply depress the urban economy– and dramatically “amplify” global climate change overall. “Any hard-won victories over climate change on a global scale could be wiped out by the effects of uncontrolled urban heat islands,” Tol said in a University of Sussex statement. The impact is so dramatic, the economic losses from climate change are almost three times worse when the urban heat island effect is included in the model, as opposed to conventional models that don’t consider the effect. … [Read more...] about The Big, Hot, Expensive Problem Facing Cities Now
The supply of T cells that haven’t already been assigned a pathogen dwindles over the decades. Those that remain may not be as good at copying themselves. And they may have trouble making the transition to patrolling the body against future attacks, said Dr. Shabnam Salimi, a professor of epidemiology and public health at the University of Maryland School of Medicine who wrote a recent paper about the interaction between aging and COVID-19. … [Read more...] about How the aging immune system makes older people vulnerable to COVID-19
Aside from consumer internet, business-to-business and software startups have also seen a speedy recovery in some cases. “B2B and SaaS have actually held up pretty well. I thought business and recovery would be slow, but for many startups, both existing and new clients are coming in, payment cycles are on schedule and people are closing sales effectively on Zoom,” Doshi said. … [Read more...] about Excitement is back in startup world as venture capitalists return