The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against the Los Pochos Drug Trafficking Organization (DTO) based in Guatemala. The DTO, primarily engaged in cocaine trafficking from Guatemala through Mexico to the United States, has been a target of sanctions since 2019. According to Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson, the Los Pochos DTO has continued to facilitate the flow of illicit drugs using corrupt officials.The Los Pochos DTO, associated with Mexico's Sinaloa...

The Federal Reserve Bank of New York has recently published a case study shedding light on pension fund investments in affordable apartments. Titled “Alternative Investments in Community Development: A Case Study of Pension Fund Investments in Multifamily Affordable Housing,” the study examined the investment patterns of seven pension funds over a five and a half-year period, ending in June 2023. The findings indicate a preference for preserving existing affordable housing over constructing new developments.According to Jonathan Kivell, director of community investments...

Three emerging leaders have been selected as recipients of the 2024-25 Luce Scholars Program, with three Yale students among the 18 individuals chosen for this prestigious opportunity.Awa Cisse, Adriana Golden, and Anna Lenaker have been named as the recipients of the Luce Scholarships, offering them a 13-month fellowship that includes stipends, language training, and immersive professional placements in Asia tailored to their interests and career aspirations.Awa Cisse, currently pursuing a Bachelor of Science in molecular biology and a Bachelor of Arts in French...

Washington – Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), has announced significant changes to the Surety Bond Guarantee Program (SBG) that are set to benefit small businesses across the country. The SBA will now be increasing the statutory contract limits for the program, allowing for greater revenue opportunities and supporting job creation and economic growth.Effective March 18, the SBA will begin guaranteeing bid, performance, payment, and ancillary bonds up to $9 million for all projects and up to $14 million on federal...

Carlyle has appointed Jeff Currie as Chief Strategy Officer of Energy Pathways, effective immediately. Currie, a seasoned economist and former Global Head of Commodities Research at Goldman Sachs, brings his expertise to Carlyle's energy division. In his new role, Currie will analyze commodity market trends and evaluate new investment opportunities in energy markets and the commodity supply chain crucial to the energy transition.Carlyle's CEO, Harvey Schwartz, emphasized the importance of the global economy's decarbonization as a significant investment opportunity....

Experimental computer memories and processors built from magnetic materials have shown promise in using significantly less energy compared to traditional silicon-based devices. Researchers at MIT have made a significant breakthrough in this area by demonstrating precise control of a van der Waals magnet at room temperature.Deblina Sarkar, the AT&T Career Development Assistant Professor in the MIT Media Lab and Center for Neurobiological Engineering, explained, "The heterostructure device we have developed requires an order of magnitude lower electrical current to switch...

Pollsters and physicists are now turning to a new optimization technique that speeds up Bayesian inference without requiring additional work from scientists. This new method, called deterministic ADVI (DADVI), offers faster and more accurate results compared to traditional approaches."When you actually dig into what people are doing in the social sciences, physics, chemistry, or biology, they are often using a lot of the same tools under the hood. There are so many Bayesian analyses out there. If we can build a really great tool that makes these researchers lives easier,...

CUNY Chancellor Félix V. Matos Rodríguez expressed gratitude for the ratification of a new contract with over 10,000 employees at The City University of New York. The agreement, approved by the CUNY Board of Trustees, includes a retroactive wage increase of 14.9% over the contract's duration, a minimum wage raise to $18, and a $3,000 ratification bonus.In a statement, Chancellor Rodríguez highlighted the importance of the university's employees, stating, "We often hear that it takes a village. CUNY’s village includes the public safety officers who keep us safe, the nurses...

The Federal Reserve Bank of Philadelphia has appointed new members to its Economic and Community Advisory Council (ECAC). Among the appointees are Laura Ducceschi, Ken Kaiser, Jesse McCree, and Leslie Smallwood-Lewis, who bring a wealth of experience and expertise to the council.Dennis Pullin, president and CEO of Virtua Health, has been named chair of the ECAC, while Loree Jones Brown, chief executive officer of Philabundance, has been named vice chair.The ECAC, established in 2008, is comprised of leaders from various sectors including businesses, nonprofit...

WASHINGTON– The U.S. Small Business Administration (SBA) announced significant milestones in expanding access to private equity and debt capital for American small businesses and startups through the Small Business Investment Company (SBIC) Program. This announcement was made by Administrator Isabel Casillas Guzman during a White House convening with National Economic Council Director Lael Brainard.The event, attended by over 60 leaders from private investment firms and industry associations, highlighted the progress made in regulatory reforms to the SBIC Program. Among...

The U.S. Small Business Administration (SBA) recently embarked on its America’s Seed Fund Road Tour, a national outreach effort aimed at connecting entrepreneurs working on advanced and innovative technology with funding opportunities. The Road Tour, which visited Orlando, Florida, on February 7 and Puerto Rico on February 9, seeks to engage startups and small businesses and help them access the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs."America relies on ingenuity to develop critical technologies and create the...

Last year, a survey conducted by the Pew Research Center showed that only 37 percent of Americans considered addressing climate change a top priority for the president and Congress. Climate change ranked 17th out of 21 national issues in the survey. However, according to renowned climate scientist and communicator MIT Professor Katharine Hayhoe, it's not that Americans don't care about climate change, but rather that they don't realize they already do.During the Connecting with Americans on Climate Change webinar last fall, Hayhoe emphasized the importance of guiding...

The National Credit Union Administration (NCUA) has announced that its four funds have received unmodified, or "clean," audit opinions for the year 2023. This information was revealed in the audited financial statements released by the agency's Office of Inspector General.The financial statements were audited by the independent auditor KPMG LLP and cover the National Credit Union Share Insurance Fund, the agency's Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. These funds play a crucial role in protecting the deposits...

The Federal Reserve Bank of Richmond has recently announced new officer appointments to key positions within the organization. These appointments highlight the bank's commitment to fulfilling its mission of fostering economic stability and strength.One of the notable appointments is that of Christin Patel as senior vice president with responsibility for the National Procurement Office. In this role, Patel will oversee the management of procurement activities for the Federal Reserve System. Patel has been with the Richmond Fed since 2008, starting as a strategic management...

Yale researchers have made a breakthrough in understanding how pit vipers are able to detect prey in the dark using their infrared sensors. In a study published in the Proceedings of the National Academy of Sciences, physicists Isabella Graf and Benjamin Machta created a mathematical model to explain the snakes' remarkable thermosensitivity.Pit vipers, found in a range of habitats from jungles to deserts, use their infrared sensors to detect even the smallest changes in temperature. These sensors are only as sensitive as those of humans, so the question arises: how are...

Nearly every Fortune 500 company now uses AI screening tools in hiring and 40 percent of all companies are expected to use AI interviews in choosing candidates this year. While employers have turned to these tools as a way to enhance efficiency in filling openings, some have raised concerns that using algorithms in hiring can introduce bias into the search and hiring process.Hilke Schellmann, a professor in NYU’s Arthur L. Carter Journalism Institute and the author of "The Algorithm: How AI Decides Who Gets Hired, Monitored, Promoted, and Fired, And Why We Need To Fight...

Kailani Acosta, a PhD student in Earth and Environmental Sciences at Columbia University, has traveled the world to study nutrient cycles in the ocean. Her research explores the interconnectivity of geology, race, agriculture, and marine biology. Acosta's work will be showcased in an exhibition she curated, which will open for one night only at Persona Studio in Brooklyn.Acosta's journey in research began after graduating from Brown University, where she worked in environmental consulting in New York City. She discovered her passion for conducting research, being out in...