Latest news with #HBS
CNBC
15-07-2025
- Business
- CNBC
CNBC Exclusive: Excerpts: BlackRock Chairman & CEO Larry Fink Speaks with CNBC's Brian Sullivan on 'Money Movers' Today
WHEN: Today, Tuesday, July 15, 2025 WHERE: CNBC's "Money Movers" Following are excerpts from the unofficial transcript of a CNBC exclusive interview with BlackRock Chairman & CEO Larry Fink on CNBC's "Money Movers" (M-F, 11AM-12PM ET) today, Tuesday, July 15. Following is a link to video on All references must be sourced to CNBC. FINK ON INFRASTRUCTURE AT THE BEGINNING OF A GOLDEN AGE LARRY FINK: We believe infrastructure is just at the beginning of a golden age. And I'll get into that. We believe private credit will continue to grow and evolve. We did HBS BRIAN SULLIVAN: That's HBS. FINK: But also we believe that if you're going to be, if you believe there's going to be a melding between public and private markets, which we believe that's going to happen. FINK ON INFRASTRUCTURE INVESTMENT FINK: We believe that there's a need for trillions of dollars investing in infrastructure related to our power grids, AI, the whole digitization of an economy. We are still going to be investing in decarbonization. So all these different investments. SULLIVAN: They go together, don't they? FINK: They all go together. Plus making sure that we have adequate, you know, dispatchable energy. So all of this is all part of a plan. And we only had one target when we determined we needed to get even larger in infrastructure. And that was GIP. FINK ON PUBLIC AND PRIVATE INVESTING FINK: We're going to have to do more and more public and private investing. I do believe deficits have consequences. And I've been discussing with this administration and many other governments that we need growth to reduce the dependency of our deficits. If we don't have economic growth around 3%, our deficits, our federal deficits are going to overwhelm the economy in the future. So the only way to get out of it is growth. FINK ON PRIVATE CAPITAL FINK: I think there's enough private capital to put the put the money to work working with state and local governments, working with the hyperscalers. And we need to make sure we do this because the US has to win and lead in AI and infrastructure. It is imperative. And so, you know, we need to find these solutions and we need to rapidly find the solutions. The money is there. The opportunity is there. BlackRock is going to be integral in this process.
BBC News
15-07-2025
- Business
- BBC News
Merger of Scottish farming co-operative approved
Two Scottish farming co-operatives have merged their operations after the plan was approved by its Ringlink Scotland Ltd and Highland Business Services Ltd (HBS) now have a combined membership of more than 4,000 farmers and crofters, and an annual turnover of £ the name Ringlink (Scotland) Ltd, HBS will continue to manage local services from Tore, near new company also said all Ringlink offices - including Laurencekirk, Cupar, Coupar Angus, Oldmeldrum and Elgin - would remain open. In the farming industry, "rings" enable farmers to pool resources such as machinery and workers, and first started taking off in Scotland about 50 years Machinery Ring was the UK's first when it was set up in 1987, and Ringlink Scotland became the second when it was established a year later. Ringlink (Scotland) Ltd involves about 450 workers in total, and the new business will operate in the Highlands, Moray, Argyll, Angus and members voted on the merger last week.
IOL News
05-06-2025
- Business
- IOL News
Court ruling secures baggage screening units for passengers at OR Tambo and King Shaka
Airline passengers can thank the courts for the replacement of four critical Hold Baggage Screening (HBS) units at OR Tambo and King Shaka International Airports. Image: Supplied Airline passengers can thank the courts for the replacement of four critical Hold Baggage Screening (HBS) units at OR Tambo and King Shaka International Airports. This is as a protracted legal dispute continues involving - the Aviation Co-ordination Services (ACS), Airports Company South Africa (Acsa) and the South African Civil Aviation Authority (Sacaa) - over who holds the mandate to provide check-in hold baggage screening (HBS) services at South African airports. The ACS said it had launched the legal action given the risk of service breakdown due to ageing screening infrastructure and manufacturer support withdrawal, which compelled it to seek urgent court relief in 2024 to allow it to replace four back-up Level 3 HBS units at OR Tambo and King Shaka. ACS in November obtained an order barring Acsa from implementing its insourcing decision or awarding any contracts under its tender that directed Acsa to allow ACS to replace the equipment; and ordered Sacaa to approve the replacement within five days. ACS CEO Duke Phahla said, 'We commend Sacaa's recognition of the urgency in replacing aged HBS equipment to ensure uninterrupted security operations at airports. We have always maintained that passenger safety and continuity must come first, and this step reflects that shared concern.' The matter stems from May 2023 when Acsa announced its intention to terminate ACS's long-standing role as the provider of HBS services and to insource the function and subsequently issued a R3.15 billion tender for the procurement of new baggage screening equipment opening the floodgate of legal suits amongst the parties. Following the Gauteng High Court granting for the replacement, Acsa said it contested the ACS's handling of baggage as it was in contravention of the Constitution (which states that all organs of state must engage in procurement that is fair and transparent), the ACSA Act, the Public Finance Management Act, which requires that all airport charges levied to passengers must be approved by a Regulating Committee. Acsa's manager for Communications, Sisa Majola, said in response to enquiries, "The charges currently being levied by ACS are not regulated. The next development in the proceedings will be the hearing of the appeal against the court's order to interdict Acsa from implementing its insourcing of Hold Baggage Screening and the procurement of the screening." Majola said it was crucial that the ACS has challenged Acsa's decision to insource/perform Hold Baggage Screening Services, and a court of law has not heard this matter, nor has ACS been confirmed as the entity entitled to render Hold Baggage Screening Services. Acsa confirmed it would comply with the back-up replacement court order and continue with the appeal, as it was granted leave to appeal by the High Court and would continue to defend the review proceedings. ACS's Phala said, 'While the legal process runs its course, our focus remains on ensuring uninterrupted, world-class baggage screening services for passengers and airlines. We remain committed to working co-operatively with Acsa, Sacaa and all stakeholders to safeguard operational integrity and uphold aviation security standards." In its response, Sacaa said there are no ongoing discussions between the Sacaa and ACS and that further determinations would have to be from court pronouncements.
The Citizen
05-06-2025
- Business
- The Citizen
Creecy intervenes in Acsa baggage screening services dispute
The dispute has resulted in multiple review applications, interdictory proceedings, and related appeal proceedings in the High Court. ACS provides baggage services on behalf of airlines operating at Acsa-managed airports. Picture: iStock Transport Minister Barbara Creecy has directed the Airports Company South Africa (Acsa) board to enter mediation with the firm responsible for baggage handling services at its airports. This comes after Acsa and the South African Civil Aviation Authority (SACAA) suffered a legal blow last month in their battle with Aviation Co-ordination Services (ACS) to take control of hold baggage control screening (HBS). Legal battles The Gauteng High Court dismissed the urgent appeal by Acsa and SACAA, which barred it from bidding for or purchasing baggage screening equipment. The court judgment upholds the High Court's order of 5 November 2024, requiring Acsa and SACAA to allow ACS to replace the relevant equipment at OR Tambo and King Shaka International Airports while a main review case is still before the courts. It confirmed that the critical replacement of old hold baggage screening (HBS) equipment may proceed at the international airports, which is needed to ensure public safety and airport efficiency. The dispute has resulted in multiple review applications, interdictory proceedings, and related appeal proceedings in the High Court. Creecy's ministerial orders issued on Thursday empower the minister to take necessary steps to safeguard national security where a risk to critical infrastructure, public safety, or the national interest has been identified. ALSO READ: Acsa loses appeal for control of baggage screening services at major airports 'Negative impact' The minister said she is concerned about the 'negative impact' the protracted litigation could have on the integrity and reliability of HBS as the first line of defence against threats in the aviation system at Acsa's airports. 'In this regard, I am satisfied that intervention is necessary to prevent potential disruption, compromise of national security, and reputational harm. 'As such, my engagements with the Acsa board have, in the main, related to finding a solution to resolve the dispute amicably and timeously to obviate any destabilisation of an essential national security function,' said Creecy. ALSO READ: Acsa interdicted from adjudicating and awarding R3bn tender Terms of reference Creecy ordered the board to finalise and execute a mediation agreement which contains the following terms of reference: The implementation of interim measures relating to the maintenance regime and whether ACS / ACSA can or should install any HBS maintenance-related equipment, including the back-up HBS units. The dispute pertaining to ACS, which is responsible for the provision of the HBS and interrelated services, will be addressed at the mediation. The provision of service of HBS and its maintenance, compliance with the applicable regulatory frameworks, budgetary and fiscal constraints, the safety of passengers who use ACSA's airports, potential revision of agreements, and the commercial relations between the parties. Negotiate, during the mediation proceedings, must be in good faith as the legal prescripts require that parties to the mediation act in the best interests of national security. Prepare and submit a comprehensive report within two weeks, setting out the total costs incurred in relation to the dispute to date. This report must include a detailed breakdown of all the legal fees, disbursements, and any other associated expenses borne by the State. Mediation ACS CEO Duke Phahla welcomed the ministerial order announced by Creecy 'We strongly believe that the current challenges can be resolved without further delay or public expenditure through the courts. Our priority is, and always has been, the safe, secure, and compliant screening of baggage on behalf of our airline clients and their passengers. 'We enter this process in the spirit of collaboration and transparency. We look forward to engaging with Acsa and the Department of Transport to find an outcome that protects the integrity of South Africa's aviation security systems,' said Phahla. ACS was established by the airline industry to provide HBS services on behalf of airlines operating at ACSA-managed airports. NOW READ: Acsa wants a look over in fight over baggage screening services
Newsweek
27-05-2025
- Business
- Newsweek
Who Is Francesca Gino? Professor's Harvard Fraud Dispute Explained
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Harvard Business School (HBS) professor Francesca Gino has become the first tenured professor to be fired from the institution since the university created its tenure policies in the 1940s. Gino, who was placed on academic leave in 2023, has been accused of falsifying data for her research on honesty and ethical behavior. She has denied the claims on her website, saying: "I absolutely did not commit academic fraud." Gino is now suing the university after being banned from campus and from teaching, saying that the allegations and investigation against her were not made in good faith. She also claims that the "Interim Policy" which was created specifically to address her accusations was a breach of her contract as a tenured professor. In 2024, Judge Myong J. Joun dismissed her initial defamation claims against the university but allowed her to continue with her accusations that the university breached her contract through their disciplinary actions, as reported in the Harvard Crimson. A lawyer for Gino has been contacted via email for comment. An academic building is seen on the Harvard University campus in Cambridge, Massachusetts, the United States on May 24, 2025. An academic building is seen on the Harvard University campus in Cambridge, Massachusetts, the United States on May 24, 2025. Ziyu Julian Zhu/Xinhua/VCG via AP Images Who Is Francesca Gino? Francesca Gino worked as a professor at HBS between 2010 and 2023, and in 2018 was the fifth highest-paid professor at the university. Originally from Italy, Gino was known in academia as a pioneer in the field of ethics and decision-making. She produced more than 140 academic articles and two books on leadership, as well as being featured in several HBS books. She also worked as a leadership coach for people in several sectors including the Boston Celtics. Her 2018 book Rebel Talent focused on the idea of "positive deviance" at work, researching how people who rebel via curiosity and drive can have a beneficial impact on their workforces and partnerships. What Are the Fraud Allegations? Gino was first accused of falsifying data in 2021 by a website called Data Colada which analyses studies. Data Colada accused Gino and a team of researchers of misstating findings in a 2012 study on honesty. The paper was then retracted. According to Gino's filings against Harvard, Data Colada pointed to four studies authored by Gino in total that they claim created "concerns about perceived anomalies and "fraud" in the data." In 2023, Gino was placed on leave by the university following an internal investigation into the claims against her. Data Colada's collection of evidence against Gino was compiled in a September 2023 blog post on their site. She has denied all allegations of fraud and has said her inability to access data and information from Harvard is making it difficult for her to prove her case. Her firing comes after former Harvard President Claudine Gay resigned from her position in 2024 following accusations of academic plagiarism. And, amid the ongoing lawsuits and debates between Harvard and the Trump Administration. What Has Francesca Gino said Gino has filed suit against the university and has also posted to her website detailing her stance on the accusations against her. "There is one thing I know for sure: I did not commit academic fraud. I did not manipulate data to produce a particular result. I did not falsify data to bolster any result. I did not commit the offense I am accused of. Period," said Gino. She has not spoken out yet on being formally fired from her tenure position.
