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Inaugural Essence HBCU Classic football game to kick off Saturday in Boston
FILE PHOTO: A general view of the field during the Yale Bulldogs vs Harvard Crimson football game at Harvard Stadium in Boston, Massachusetts.
Adam Glanzman | Getty Images
A new tradition for HBCU football could be starting at one of the nation’s oldest football stadiums on the campus of Harvard University.
“It’s really a cultural event,” said Derek Brown, co-founder of the Essence HBCU Classic, an NCAA football game between teams of historically Black colleges and universities. This year’s inaugural match-up is between with the Morehouse College Maroon Tigers and the Johnson C. Smith University Golden Bulls on Saturday during Labor Day Weekend.
“Football is definitely a part of the weekend. But I would say it’s the appetizer, and everything that comes with it is the entrée,” Brown said.
The four-day event co-founded by Campus Rise, which also created the HBCU NY Classic, will feature a pep rally, tailgate, battle of the bands and a step show with the goal of creating at atmosphere similar to an HBCU homecoming.
“We are trying to amplify HBCUs and the amazing folks that go to those schools,” said Michele Ghee, chief content officer of title sponsor Essence. “What an amazing opportunity to say, ‘Yes, HBCUs are producing great students just like Harvard.'”
The event’s organizers said they chose Boston because of the large number of HBCU alumni in the area and chose Harvard Stadium for its historical significance.
In 1971, Howard University and University of Maryland Eastern Shore played a game at the stadium organized by the Urban League of Eastern Massachusetts.
“Boston is actively working to shape a new narrative,” said John Borders IV, a Morehouse graduate and head of the Boston Office of Sports, Tourism and Entertainment, noting Mayor Michelle Wu is actively trying to distance the city from its history of racial tensions. “Boston has a rich Black history. While people may have one perception about Boston historically, there is a different dimension.”
The presidents of Morehouse and Johnson C. Smith say the game will likewise give both HBCUs an opportunity to inform people of their rich history and to build their national presence.
“It’s really an opportunity to have that broader exposure and to bring the product of Morehouse, the product of the pride of HBCUs on the road to showcase,” said F. Dubois Bowman, president of Morehouse.
“I think there are lots of questions we have to ask ourselves about representation, about the role that people of color, particularly Black people, play in this country,” said Valerie Kinloch, president of Johnson C. Smith. “When we talk about traversing different types of spaces, we have to understand how historically Black colleges and universities have a wide impact, and that also includes an impact on spaces that we usually would not be represented in.”
In addition to Essence, the game is being sponsored by betting giant DraftKings and Cash App, a subsidiary of Block.
“This partnership reflects who we are and what we stand for,” said Zack Ashley, global head of brand partnerships at Cash App, in a statement. “We’re honored to help bring the ESSENCE HBCU Classic to Boston and to celebrate the excellence, pride, and history of these institutions while providing real-world benefits to the communities they serve.”
Brown said the sponsorships are a clear acknowledgment of the value of HBCUs and their alumni during a time when many companies are ending their diversity, equity and inclusion programs.
“It’s a new tradition, but it’s not a new consumer,” Brown said. “I think all of our partners recognize that this a consumer that they wanted to target. They are not doing charity, they are sponsoring this event because it gives them great access to a consumer that is very important to their business.”
The firm was unable to cope during high demand, Ofwat says, leading to “immense stress” for customers.
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Middle East heat may ripple across India’s energy supply chain, flags Goldman Sachs – The Times of India
As tensions continue to heat up in the Middle East, concerns are raising about disruptions to one of the world’s most critical energy shipping routes, the Strait of Hormuz. Any disruption could significantly affect major oil-importing countries such as India, as the narrow Strait of Hormuz is central to global energy trade. The strait sees almost 20 million barrels of oil passing through each day, or about a fifth of the world’s consumption, pass through the route. The waterway also carries roughly 19% of global liquefied natural gas (LNG) shipments, making it a crucial corridor for energy-importing economies.A recent report by Goldman Sachs has flagged early signs of stress in the region. The report warned that tanker traffic through the Strait of Hormuz has already begun showing signs of disruption, with shipping firms, oil producers and insurers adopting a cautious approach following reports of damaged vessels in nearby waters.According to the firm, financial markets have already begun factoring in the geopolitical risk. Oil prices currently carry an estimated risk premium of $18-per-barrel, reflecting the potential market impact if energy flows through the Strait of Hormuz were disrupted for about a month.
Even is the oil facilities are not directly damaged, a shutdown of the shipping route could expose a significant portion of global supply. The report estimates that in an event of full closure, about 16 million barrels per day of oil flows could be affected, despite the availability of some pipeline routes designed to bypass the strait.And the risks are not limited to crude oil shipments with almost 80 million tonnes of LNG exports annually, much of it from Qatar, moving through the passage. Any prolonged disruption could tighten gas supply globally and potentially drive European benchmark gas prices back to levels seen during the 2022 energy crisis.
Asian economies stand among the most exposed to such disruptions. Major importers such as China, India, Japan and South Korea depend heavily on oil and LNG shipments that transit through the strategic corridor.While global oil inventories and spare production capacity could help cushion short-term shocks, the report warned that sustained disruption to Gulf shipping routes could trigger sharp volatility in global energy markets and push prices higher across oil, gas and refined fuel products.Market participants and governments are closely watching tanker traffic in the Strait of Hormuz, along with diplomatic and military developments involving the United States, Iran and Gulf nations, to assess whether the current disruptions remain temporary or escalate into a broader energy supply shock.
KARACHI: The Pakistan Stock Exchange rallied on Thursday after Saudi Arabia assured Pakistan of facilitating crude oil shipments through the Red Sea port of Yanbu Port, easing concerns over potential fuel supply disruptions.
The benchmark KSE-100 Index climbed sharply during the trading session, rising 4,439.93 points (2.85%) to reach an intraday high of 160,217.14 points.
Market Recovery
Analysts attributed the market rebound to renewed institutional buying and improving investor sentiment after Saudi assurances on oil supplies.
Market expert Ahsan Mehanti, CEO of Arif Habib Commodities, said easing fuel supply concerns played a key role in the recovery.
He added that rising global crude prices, expectations of a new International Monetary Fund loan tranche for Pakistan, and positive economic indicators also boosted investor confidence.
Alternative Oil Route
Pakistan sought an alternative supply route after Iran announced the closure of the Strait of Hormuz, a crucial global oil transit corridor.
Federal Petroleum Minister Ali Pervaiz Malik held talks with Nawaf bin Said Al-Malki, requesting Saudi support for uninterrupted energy supplies.
Saudi authorities reportedly assured Pakistan that oil shipments could be routed through Yanbu, and one crude vessel has already been prepared for dispatch.
Global Oil Market Impact
Oil prices continued to rise amid tensions in the Middle East conflict involving Iran, Israel and the United States.
Brent crude: up 3.26% to $83.99 per barrel
West Texas Intermediate (WTI): up 3.70% to $77.42 per barrel
Energy markets remain volatile as shipping disruptions threaten supply through the Strait of Hormuz, a route that handles nearly 20% of global oil trade.
Analysts say the Saudi assurance helped calm fears about Pakistan’s energy supply chain, contributing to the strong recovery at the PSX.
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