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...Higher Education Price Index—a gauge of inflation calculated by Commonfund, an investment firm in Wilton, Conn. that serves schools and other nonprofit organizations—has increased by an average annual rate of 3.4 percent over the past five years. The index measures movements in the prices of goods and services purchased by colleges and universities...
...Harvard Corporation announced today that it would sell its shares in the oil firm Sinopec, a Beijing-based company with close ties to the Sudanese government...
...divestiture from Sinopec comes almost exactly one year after Harvard relinquished its stake in another Beijing-based firm, PetroChina, that also played an extensive role in Sudan’s oil export industry. “Oil is a critical source of revenue and an asset of paramount strategic importance to the Sudanese government,” the Harvard Corporation said in a statement at the time...
...Harvard still has not announced a divestiture from the Russian oil firm Tatneft, despite that fact that other schools—including Amherst, Stanford, and the University of California—have cut ties to Tatneft to protest that company’s links to the Khartoum regime. In its most recent filing with federal regulators on Feb. 9, Harvard revealed that it owned 134,050 shares in Sinopec, also known as the China Petroleum and Chemical Corporation. Those shares were worth a total of $8.3 million on the New York Stock Exchange at noon today. Since Sept...
...Initially, de Villepin stood firm, vowing earlier this week not to "revoke", "suspend" or "water-down" the measure, nor "capitulate before the logic of ultimatums." But with polls showing nearly 70% of voters opposing the law, and his own approval ratings nearing 30%, de Villepin is now voicing a willingness to negotiate with unions. The reversal seeks to defuse a crisis threatening not only de Villepin's government, but his 2007 presidential ambitions as well. Indeed, his new willingness to negotiate came just hours after Interior Minister and fellow presidential aspirant Nicolas Sarkozy moved to carefully distance himself from...