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The Biden administration says colleges can consider race and admissions within limits.

And a Wall Street Journal analysis finds that homelessness in the US is up about 11% from last year.

Plus, why more startups are dying and venture capitalists are less willing to save them.

There are hundreds of these startups that probably shouldn't have gotten funding in the first place

that we're getting funded during the boom times. And so you'll see a lot more of those

companies die off in the coming years as they struggle to raise more cash.

It's Monday, August 14th. I'm Ann Marie for Tolly for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

The Biden administration offered guidance today for colleges navigating new restrictions

on how they consider race in their admissions decisions.

A joint release by the Departments of Education and Justice includes examples like what types

of personal essays would be allowed from applicants.

Administration officials also emphasized that schools can use targeted outreach and recruiting

initiatives. Colleges and applicants have been struggling to interpret the Supreme Court's

ruling in June that schools cannot consider race on its own when making admission decisions.

The ruling did leave room to take into account how race has affected an applicant's life.

Swiss Bank UBS has agreed to pay $1.44 billion to settle a case from the US Justice Department

over its alleged role in the 2008 financial crisis. Federal prosecutors say the settlement

resolves allegations that UBS lied to investors about the quality of residential mortgage-backed

...