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....

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...

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...

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...

According to a recent report by economists Pinghui Wu and Lucy McMillan from the Federal Reserve Bank of Boston, working college students who experience job loss are more likely to drop out of school. The study, titled "Credit Access and the College-persistence Decision of Working Students: Policy Implications for New England," reveals that when a working undergraduate aged 18 to 24 faces involuntary job loss, their chances of not returning to school the following academic year increase by 17%.Although only 2% of the students in the study sample were affected by job loss,...

Pine Gate Renewables, LLC, a developer and owner-operator of utility-scale solar and energy storage projects in the United States, has announced the closing of a $150 million credit facility with global investment firm Carlyle (NASDAQ: CG). The credit facility was finalized in the fourth quarter of 2023 and will be used to accelerate construction activities for Pine Gate's growing development pipeline and support a subset of its 2.2 GW operating portfolio.This partnership with Carlyle will provide Pine Gate with access to additional capital and diversify its financing...

Casper Labs, the enterprise blockchain software and services provider, has announced a partnership with IBM Consulting to develop a blockchain-powered solution that aims to improve transparency and auditability in AI systems. By leveraging Casper Labs' blockchain technology and IBM's watsonx.governance, the solution will establish an additional layer for governing AI training data, allowing organizations to track and audit changes made to generative AI models.The collaboration between Casper Labs and IBM Consulting comes in response to the challenges faced by...

A Paris opera house, a quaint forest town in Czechia, a Dublin beach that seemed to never end — these are some of the scenes that took first place in the Center for Undergraduate Global Engagement’s 2023 photo contest. The annual contest asks students to share images from their study abroad experiences in a range of categories. We recently caught up with some of the CC winners to get the story behind their images.One of the winners, Linnea Hopkins-Ekdahl CC’24, captured a stunning photo in Karlštejn, Czechia, on her Nikon 35mm film camera. She described the town as...

Columbia Community Service (CCS) recently concluded its 25th Annual Toy Drive and Winter Coat Drive, and the results are impressive. The community came together during the busy holiday season to support these beloved traditions, and the generosity shown was overwhelming.A total of 988 toys were donated to CCS grantees organizing toy distribution. This represents a significant increase of 112% compared to the previous year. The toys will be distributed to organizations such as Advancing the Community of Tomorrow, Association to Benefit the Children, Cathedral Community...

Cash is piling up at Euroclear Bank as a result of sanctions imposed on Russia by various governments, including the United States, the European Union, and Japan. These sanctions have immobilized the Bank of Russia's reserve assets, meaning that the assets remain under the bank's ownership but cannot be moved. Euroclear, the Brussels-based international central securities depository, is holding the majority of these immobilized assets.The balance sheet of Euroclear Bank has grown more than fivefold since early 2022, indicating the significant accumulation of cash. While...

GE Vernova's Onshore Wind business has announced a new equipment and long-term services deal with Pattern Energy to provide 2.4 gigawatts (GW) of power at the SunZia Wind project in New Mexico. The project is expected to be the largest wind project in the Western Hemisphere at over 3.5 GW total project size. This order is the largest single onshore wind turbine order ever received by GE Vernova.Scott Strazik, CEO of GE Vernova, expressed his pleasure in supporting Pattern Energy on this monumental project, highlighting the key role wind power plays in delivering renewable...

Halil Beqaj, a medical student at Columbia’s Vagelos College of Physicians & Surgeons, is set to graduate this spring with both a medical degree and a Master of Science in Biomedical Sciences. Beqaj's journey at Columbia has been marked by his passion for science and his desire to make a difference in the field of medicine.From a young age, Beqaj was inspired by his father, a pathologist, who introduced him to the world of science. "My father helped me discover my passion for science at the earliest birthday I can remember," Beqaj recalls. "He got me a microscope for my...

CUNY Chancellor Félix V. Matos Rodríguez has issued a statement expressing his support for Governor Hochul's 2024 State of the State address. The Chancellor commended the Governor for outlining a transformative agenda that addresses persistent health and economic inequalities through critical investments in academic and research opportunities.In his statement, Chancellor Matos Rodríguez highlighted the alignment between Governor Hochul's agenda and the values shared by the City University of New York (CUNY). He specifically mentioned CUNY's pride in joining the newly...

The U.S. Small Business Administration (SBA) is celebrating the one-year anniversary of the Veteran Small Business Certification (VetCert) program. This program has been instrumental in expanding federal contracting opportunities for Veteran-Owned Small Businesses (VOSBs) and Service-Disabled Veteran-Owned Small Businesses (SDVOSBs). Under the Biden-Harris Administration's commitment to supporting veterans and underserved populations, the VetCert program has approved over 10,400 applications from VOSBs and SDVOSBs with an impressive average processing time of just 15 days....