Latest news with #NeilShapiro
a day ago
- Business
Confusion at NIH as administration halts, then releases, billions of dollars for scientific research
Billions of dollars of National Institutes of Health research were stuck in limbo for hours, causing confusion after a memo from the Office of Management and Budget appeared to direct a halt to its funding. The funding halt at NIH came after an OMB memo's footnote was interpreted to mean the release of money for research grants was prohibited, according to an email sent to NIH staff Tuesday afternoon by its associate director for budget, Neil Shapiro. "We are working to make this limitation short-term and temporary," Shapiro wrote in the email. This back-and-forth comes after a string of large-scale cuts at the Health and Human Services Department, led by Secretary Robert F. Kennedy Jr., that has cast agencies such as NIH, the Food and Drug Administration and the Centers for Disease Control and Prevention into confusion as they execute directives from the top. Following reporting by several outlets, OMB reversed the decision publicly, with a spokesperson saying on Tuesday evening the money was "undergoing a programmatic review" but "is being released." Confusion remained at NIH, however. At almost the same time OMB publicly said the funding halt wasn't happening, NIH leadership emailed staff that it was still "only authorized to obligate funds" for limited purposes such as salaries and clinical expenses, but that "NIH leadership is diligently working to resolve this issue and hopes to provide further updates soon." And on Wednesday morning, regular processes were gummed up briefly by the confusion, including credit card purchase approvals. An email sent to a group of agency employees who approve credit card purchases indicated the halt was still in effect, saying "a pause on the obligation of funds pertaining to the conduct of research and development," with a promise to keep the group updated with any changes to the new requirements. Two hours later, those same employees were informed the halt had been lifted. The funding freeze would've impacted approximately $15 billion in funding that would be given to research institutions around the country between now and Sept. 30, according to an estimate from Democratic Sen. Patty Murray of Washington, a high-ranking official on the Senate Appropriations Committee. "What is stunning to me is that OMB is saying that these funds are being released, while HHS is saying exactly the opposite—the chaos and dysfunction of the Trump administration is staggering. These people should not be managing a lemonade stand, much less all federal cancer research," Murray said in a statement. Since taking office in February, Kennedy has overseen massive overhauls of the health system. Beginning in April, nearly 10,000 people were estimated to be laid off, including entire offices at the Food and Drug Administration, Centers for Disease Control and Prevention and NIH. Hundreds of employees were later hired back after public outcry or internal agency discussions over the impact, leaving the full scope of the layoffs unclear. Research cuts have also been a consistent tenet of Kennedy's HHS. Despite the secretary's repeated claims that scientific research was not hit by the cuts, the NIH had released $1.6 billion less in funding by April of this year compared to last year -- a reduction of one-fifth -- according to a New York Times analysis. Other grants have been cut completely because the administration has deemed them ideologically at odds with the president's agenda.
Time of India
a day ago
- Health
- Time of India
US health research faces disruption as Trump administration pauses NIH grants, then restores them
US health research disrupted as Trump administration halts NIH funding temporarily The Trump administration temporarily halted billions of dollars in research funding from the National Institutes of Health (NIH), affecting scientific projects across the United States. The funds were later restored on the same day following intervention from senior White House officials, according to multiple federal sources and internal emails reviewed by The Washington Post and The Wall Street Journal. The pause stemmed from a budgetary directive issued by the Office of Management and Budget (OMB), which included a footnote limiting how the NIH could use its congressionally approved funding. The directive initially restricted the NIH to spend its budget solely on salaries and operating expenses, preventing it from issuing or renewing research grants. Budget footnote triggers temporary funding freeze According to an email obtained by The Washington Post, Neil Shapiro, associate director for budget at the NIH, informed staff that the OMB had given the agency its "full-year apportionment" but included a footnote that narrowed the scope of allowable expenditures. The document stated that funding for the rest of the fiscal year could only be allocated to "personnel compensation and benefits," halting financial support to external scientific researchers. As reported by The Wall Street Journal, this pause in funding impacted billions of dollars used to support research on major health issues such as cancer and diabetes. Most NIH-funded research is conducted by external scientists working at universities and laboratories across the country. Funding restored after White House intervention The temporary freeze was reversed later in the day, following intervention from senior officials within the Trump administration. People familiar with the matter told The Wall Street Journal that the original restriction was withdrawn and the funding was allowed to proceed. Although no official explanation was provided publicly by the White House at the time of the reversal, federal officials confirmed that NIH's research grants could resume as planned. Widespread impact on US research institutions The funding pause caused concern within the US scientific community, particularly because the NIH distributes the majority of its budget—amounting to tens of billions of dollars annually—to external researchers. These grants are crucial for advancing research into pressing public health challenges. NIH officials have not commented further on whether similar restrictions may be applied again. The agency continues to operate under guidance from the OMB, which oversees the allocation of federal spending across US agencies. TOI Education is on WhatsApp now. Follow us here . Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Business Upturn
14-06-2025
- Business
- Business Upturn
KBW Announces Index Rebalancing for Second-Quarter 2025
NEW YORK, June 13, 2025 (GLOBE NEWSWIRE) — Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the second quarter of 2025. This quarter, there are constituent changes within one of our indexes: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). These changes will be effective prior to the opening of business on Monday, June 23, 2025. As part of this rebalancing, below are the component-level changes across impacted indices: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY) Drop (1) : SITE Centers Corp. (NYSE: SITC) Several of the KBW Nasdaq indexes have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index. About KBW KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies. Media Contact Neil Shapiro, (212) 271-3447 [email protected]
Yahoo
14-06-2025
- Business
- Yahoo
KBW Announces Index Rebalancing for Second-Quarter 2025
NEW YORK, June 13, 2025 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the second quarter of 2025. This quarter, there are constituent changes within one of our indexes: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). These changes will be effective prior to the opening of business on Monday, June 23, 2025. As part of this rebalancing, below are the component-level changes across impacted indices: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY) Drop (1): SITE Centers Corp. (NYSE: SITC) Several of the KBW Nasdaq indexes have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index. About KBW KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies. Media Contact Neil Shapiro, (212) 271-3447shapiron@
Yahoo
14-06-2025
- Business
- Yahoo
KBW Announces Index Rebalancing for Second-Quarter 2025
NEW YORK, June 13, 2025 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the second quarter of 2025. This quarter, there are constituent changes within one of our indexes: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). These changes will be effective prior to the opening of business on Monday, June 23, 2025. As part of this rebalancing, below are the component-level changes across impacted indices: KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY) Drop (1): SITE Centers Corp. (NYSE: SITC) Several of the KBW Nasdaq indexes have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index. About KBW KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies. Media Contact Neil Shapiro, (212) 271-3447shapiron@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
