TRENTON, N.J. (AP) — Google CEO Eric Schmidt and his wife have given $25 million to start an endowment fund at Princeton University.
The Ivy League school said Tuesday that the money will support the invention and development of technology in natural sciences and engineering. The Eric and Wendy Schmidt Transformative Technology Fund will be awarded through a campus-wide peer-reviewed competition.
Schmidt graduated from Princeton in 1976 with a degree in electrical engineering.
Stocks plummet
Traders fearful of a rupture in Europe's financial system retreated Wednesday from risky investments.
Health care costs
Health care spending increased at twice the rate of inflation as hospitals and other providers raised prices, according to a recent study by Health Care Cost Institute.
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