Regulators fine British firm ICAP $87 mil in Libor scandal
LONDON — U.S. and British authorities moved a step further Wednesday in their investigation into the manipulation of the benchmark interest rate known as Libor, fining the British financial firm ICAP a combined $87 million for its role.
Google alters search engine to handle complex queries
Google on Thursday announced one of the biggest changes ever to its search engine, a rewriting of its algorithm to handle more complex queries that affects 90 percent of all searches.
Innovation Initiative
President L. Rafael Reif announced Friday a new Innovation Initiative at MIT for research and education focused on the role of manufacturing in “accelerating” innovation, which he called the “signature competitive advantage” of the United States.
MIT Medical administered 13,492 flu vaccines in 2012
In addition to changing leaves and cooler temperatures, October brings with it the official start to flu season. According to the Centers for Disease Control and Prevention (CDC), the flu season can last until May. In response, MIT Medical will once again hold free flu vaccination clinics.
Slight increase in bids given in sorority recruitment
The MIT Panhellenic Association held sorority recruitment for five of MIT’s six sororities beginning Aug. 31 with an afternoon kickoff on Kresge Oval and ending with bid night on Sept. 4. The “4-day process [is] designed to introduce [women] to MIT sorority life,” according to the association’s online FAQ page.
Experimental treatment for muscular dystrophy
Terri Ellsworth is convinced that her 12-year-old son Billy, who has Duchenne muscular dystrophy, is being helped by an experimental drug that counteracts the genetic mutation causing his disease.
FYRE results reveal disparity in dorm demand
This was the second year of the First Year Residence Exchange (FYRE), the process allowing freshmen to switch their dorm assignment. Participation dropped from 159 to 124 students. As of this year, students could no longer move into Maseeh Hall during FYRE, but the total number of moves increased from 96 to 107.
Regulatory issues
NEW YORK — In a 50th-floor conference room overlooking Central Park, JPMorgan’s board members had a pressing question about regulatory problems that have dogged the bank for more than a year: Are we done yet?
The expense of career fair
Fall Career Fair 2013 will see a skewed distribution of industries: Course 6 again dominates the population, and almost all of the participating companies are for-profit corporate organizations.
New restrictions on FSILG roof deck use
On Thursday afternoon, Fraternity, Sorority, and Independent Living Group presidents received an email from Assistant Dean of FSILGs Marlena Martinez-Love, Senior Associate Dean for Students Henry J. Humphreys, and Chair of the Association of Independent Living Groups Steve Baker ’84 stating that, effective immediately, the use of all roof decks should cease pending inspections by the presiding city. In addition, all FSILG events may not host no more than three times the legal occupancy listed on their dormitory license until an agreement is reached with the cities on assembly occupancy. These restrictions come on the heels of an MIT freshman falling four stories through a skylight of Phi Sigma Kappa, which was accessible from an uninspected roof deck. (The freshman sustained no life-threatening injuries.)
Pope calls for church as ‘home for all’
Six months into his papacy, Pope Francis sent shock waves through the Roman Catholic Church on Thursday with the publication of his remarks that the church had grown “obsessed” with abortion, gay marriage and contraception, and that he had chosen not to talk about those issues despite recriminations from critics.
Vice President for Human Resources plans to retire
MIT’s Vice President for Human Resources Alison Alden has announced her plans to retire in the spring of 2014. Alden began working at MIT in 2007 and has made substantial contributions to MIT’s HR department. Israel Ruiz, Executive Vice President and Treasurer, is “grateful to Alison for her seven years of exceptional service to MIT.”
VP for RD Newton to retire
MIT Vice President for Resource Development Jeffrey L. Newton has decided to retire after seven years in the role, president L. Rafael Reif announced in an email to the MIT community yesterday morning. Newton will continue to serve in an advisory role through January 2014. Kirk Kolenbrander, Vice President and Secretary of the Corporation, will “oversee the day-to-day management and strategic direction of our fundraising operations” while MIT searches for a Newton’s successor.
House Republicans pass bill with deep cuts in food stamps
WASHINGTON — House Republicans narrowly pushed through a bill Thursday that slashes billions of dollars from the food stamp program, over the objections of Democrats and a veto threat from President Barack Obama.
3.091 experiments with new online learning this semester
At first glance, an MIT class without p-sets, exams, or essays sounds almost too good to be true. For 3.091 Professor Michael J. Cima, it is his semester-long experiment to test whether students learn better when residence-based instruction is combined with online instruction.
Demolition of building next to Random will start within a week
Work is now underway for Random Hall’s future neighbor. The building, to be developed by Forest City Enterprises, will serve as research and office space for Millennium Pharmaceuticals and will include more than 15,000 square feet of retail space facing the street on Massachusetts Avenue.
Kaiser steps down as provost of MIT
Chris A. Kaiser PhD ’87 will step down as MIT’s provost at the end of October, President L. Rafael Reif announced yesterday in an email to the MIT community. Kaiser will return to teaching and research as an MIT faculty member.