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Michael Bloomberg, billionaire and former mayor of New York City. Photo: Bill Pugliano/Getty Images)

Former New York City Mayor Michael Bloomberg on Sunday said he’s giving $1.8 billion to his alma mater Johns Hopkins University to provide financial aid to students from low- and middle-income families. This is said to be the largest private gift to a single academic institution.

The details: Bloomberg wrote in an online op-ed for the New York Times that his gift will enable the private university in Baltimore to make its admissions process “forever need-blind; finances will never again factor into decisions. The school will be able to offer more generous levels of financial aid, replacing loans for many students with scholarship grants.” According to a May 2018 report by the Congressional Research Service, Johns Hopkins’ endowment was $3.8 billion.

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  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
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Dan Primack, author of Pro Rata
Updated 7 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
9 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.