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...screaming for European Central Bank (ECB) authorities to intervene with measures to bring exchange rates back into balance. French President Nicolas Sarkozy in particular has been scathing in his demands that the ECB drop its obsession with controlling inflation and, instead, introduce measures that would allow European economies to expand faster. As part of that, the French are calling on the ECB to reduce its benchmark lending rate of 4% in much the way the U.S. Federal Reserve has in the past months. That move would not only make it easier for companies and consumers to access credit, but also...
These two schools are the last of the so-called “Ivy-Plus” colleges, comprised of the eight Ivy League schools plus Stanford and MIT, to substantially expand financial aid after Harvard announced in November that it would limit parental contribution for educational expenses to 10 percent of income for families who earn below $180,000 a year...
InnoCentive was looking to expand beyond industrial research into philanthropy; Bent needed a better light for the developing world. With funding from the Rockefeller Foundation and the New York venture capital firm Spencer Trask - launched over a century ago by the man who helped finance Thomas Edison's first light bulb - Bent put up a challenge on InnoCentive's network to improve on his BOGO light. It was answered in short order by a engineer in New Zealand named Russell McMahon, who came up with a new design that makes better use of both the solar battery and the LEDs...
Innovation on the wikinomics model has already made a difference for Bent and the tens of thousands of African families using his solar-powered light. The company recently passed $1 million in sales, and Bent expects to expand his line, adding a solar-powered UV water-filtration system. "I know that somewhere some kid is using my light, and that's a cool feeling," says Bent. "I want to take it all the way." In the new wikiworld, he can count on lots of help...
Despite the increasing ties at Harvard’s professional schools, student organizations with programs in China said they hope that University initiatives continue to expand because Harvard has a long way to go to establish a strong presence in China...