Fed Official Resigns In Trading Scandal | Gaming’s Blockbuster Deal | Ivy League Antitrust Lawsuit

Plus: 50 Over 50 Asia 2022

Good morning.

Richard Clarida, vice chairman of the Federal Reserve, announced he’ll resign from his position 17 days before his term is due to end—the latest Fed official to step down amid questions about his trading activities at the start of the Covid-19 pandemic. We’re also covering a proposed acquisition that would be one of the biggest ever in the video game industry and a lawsuit rocking some of America’s most elite universities. Finally, meet the women who made the inaugural 50 Over 50 Asia list.

In The News Today

Australian authorities are reportedly examining Novak Djokovic’s travel form for alleged discrepancies that may lead to the tennis star’s visa being canceled again.

U.S. prosecutors are offering to dismiss two perjury charges against Ghislaine Maxwell if her legal team gives up pursuit of a retrial.

Top Take-Aways

Federal Reserve Board’s vice chairman Richard Clarida became the latest and most high-profile Fed official to resign following scrutiny of his trading activities in the early days of the pandemic.

Video game publisher Take-Two Interactive, known for Grand Theft Auto, NBA 2K and Red Dead Redemption, announced a $12.7 billion deal to buy Zynga, the mobile gaming company behind FarmVille and Words With Friends, in one of the industry’s largest acquisitions to date.

Tweets from tech entrepreneur and investor Joe Lonsdale, cofounder of software firm Palantir Technologies and managing partner at 8VC, reopened a conversation about racism in venture capital, and who carries the burden of correcting ignorant views.

Panasonic Japan is following Microsoft Japan’s 2019 four-day workweek experiment, giving employees the option of working one day less a week as part of the company’s efforts to offer a more flexible workplace environment.

A federal lawsuit accused some of the U.S.’ most prestigious universities of violating antitrust laws by colluding to unfairly limit student financial aid.

Tech billionaire Romesh Wadhwani, the 74-year-old CEO of an enterprise AI group  SymphonyAI, is stepping down in favor of Sanjay Dhawan, former CEO of automotive AI firm Cerence, as the company considers a potential future public offering.

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