Yale admissions dean says ‘standardized tests are imperfect and incomplete alone,’ but he’s still bringing back SAT and ACT requirements

Yale University is bringing back the SAT and ACT as requirements for undergraduate admission after years of not asking students to submit standardized exams.   The school will begin the change in the fall and will also accept scores from Advanced Placement or International Baccalaureate exams as an alternative to …

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‘Markets are brutal’: China’s hedge funds flail in pre-Lunar New Year ‘quant quake’ as authorities promise more regulation

China’s quantitative hedge funds are admitting to unprecedented failures by their stock-trading models during one of the wildest two-week stretches in the market’s history. One manager described it as the industry’s “biggest black swan event.” Another said its models “switched from doing it right to getting it wrong repeatedly.” While …

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StanChart clocks 22% jump in 2023 profit, announces $1 bln buyback

© Reuters. Investing.com– Asia-focused lender Standard Chartered PLC (HK:) (LON:) clocked a stronger profit for 2023 as it benefited from higher interest rates, with the bank also announcing a $1 billion buyback. Still, the bank downgraded its income outlook for 2024 and forecast mild increases in its net interest income, …

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China’s new home prices extend declines despite policy support

© Reuters. FILE PHOTO: A person works at a residential building construction site in Beijing, China September 6, 2023. REUTERS/Tingshu Wang/File Photo By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s new home prices slowed their month-on-month declines in January, with the biggest cities seeing some stabilisation, but the nationwide …

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Bill Ackman divulged details about the time a fellow activist tried to force him to liquidate—only to be saved by a ‘handshake’ deal with Jamie Dimon’s bank

Elliott Investment Management targeted Pershing Square Holdings in 2017, when Paul Singer’s firm privately tried to force fellow activist Bill Ackman to liquidate his listed company.  Ackman disclosed the details of the battle around the fund publicly for the first time during a three-hour interview on the Lex Fridman Podcast. The billionaire posted the …

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Kraken moves to dismiss SEC lawsuit, which the crypto firm says is retaliation from ‘a politically compromised agency’

On Thursday, the crypto exchange Kraken filed a motion to dismiss a November lawsuit from the Securities and Exchange Commission that accuses the U.S.-based firm of failing to register with the agency and commingling customer funds. In Kraken’s response, and an accompanying blog post, the exchange echoes the legal arguments …

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The two biggest AI companies in the world are taking vastly different approaches—and they’re both wildly successful

The flashy artificial intelligence startup OpenAI and the semiconductor giant Nvidia are two of the most talked about companies in the world these days amid the rise of generative AI—and the skyrocketing price of Nvidia’s stock. But the average American might not recognize just how different these two AI darlings …

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