Business Briefs: Yale University receives record gift

Business Briefs: Yale University receives record gift

October 1st, 2013 by Wire Service in Business Around the Region

Yale receives record gift

Yale University announced a $250 million gift from a 1954 graduate Monday, saying it's the largest in its history and will help pay for the Ivy League school's largest expansion in decades, including a 15 percent increase in enrollment.

Charles B. Johnson, who retired last year as chairman of the board of Franklin Resources, parent company of Franklin Templeton Investments, made the donation.

"This is an extraordinary commitment from one of Yale's most loyal alumni," Yale President Peter Salovey said. The expansion at the exclusive New Haven university is the biggest since it began admitting women in 1969.

Shutdown delays jobless reports

The latest report on job creation and the unemployment rate, set to be released Friday, could be delayed if the federal government shuts down this week, the Labor Department said Monday.

"All survey and other program operations will cease and the public website will not be updated," Erica L. Groshen, commissioner of the Bureau of Labor Statistics, said in a Sept. 10 memo that is part of the department's contingency plan for a shutdown.

But Groshen said timing is important in determining whether economic data would be released during a shutdown, which would begin Tuesday if Congress and the White House cannot strike a last-minute spending deal.