July 7 (Reuters) – The Gates Foundation said Melinda French Gates and Bill Gates, in the midst of a high-profile divorce, will continue to work as co-chairs for a two-year trial period and after that time if the arrangement unravels, she would step down.
The foundation said the controlling billionaire benefactors, Bill and Melinda, will contribute $15 billion, their single largest contribution since 2000, bringing the total endowment to about $65 billion.
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While the bigger tax bases help, that benefit is “consumed by the cost to service” the growth, said Sandra Zwiers, director of finance for the County of Essex, about 350 kilometers southwest of downtown Toronto, which has received an influx of residents from around the city.
The departmental board members are supposed to be recruited through ‘fair and transparent competition’ and come ‘primarily from the commercial private sector, with experience of managing complex organisations’.
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Wednesday’s announcement also comes after billionaire investor Warren Buffett in June said he was resigning as a trustee of the foundation, and had donated half his wealth to philanthropy since pledging 15 years ago to give away his fortune from running Berkshire Hathaway Inc.
July 8 (Reuters) - Gold held steady on Thursday as lower U.S.
Treasury yields countered a stronger dollar after minutes from the Federal Reserve’s last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year.
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Cities need insurance to protect against claims in the event of accidents on municipal properties or roads, and to deal with risks including cyber attacks and natural disasters – so forgoing coverage is not an option.
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If Melinda resigns after two years, she would receive personal resources from Bill for her philanthropic work, which would be completely separate from the foundation’s endowment, the foundation said in a blog post on Wednesday.
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The 444 municipalities in Ontario, Canada’s most populous province, would face a combined revenue shortfall of about C$2.4 billion ($1.9 billion) due to the pandemic, Ontario’s Financial Accountability Office said website in December.
The province needs certainty that a change would mean a decline in insurance rates, and there is not enough data “to confidently draw a causal connection,” a spokesperson for the Ontario Ministry of the Attorney General said.
