She was left traumatized and with chronic pain, but still continued to attend classes. By August, when Taliban soldiers entered Kabul, she was only months away from receiving her degree. But now the Taliban decree appears to have rendered her dream impossible.

“All the hard work I have done so far looks like it is gone,” she said. “I find myself wishing I had died in that attack with my classmates instead of living to see this.”

Wali Arian and Lara Jakes contributed reporting.

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Federal Reserve Signals a Shift Away From Pandemic Support

Federal Reserve officials indicated on Wednesday that they expect to soon slow the asset purchases they have been using to support the economy and predicted they might raise interest rates next year, sending a clear signal that policymakers are preparing to curtail full-blast monetary help as the business environment snaps back from the pandemic shock.

Jerome H. Powell, the Fed’s chair, said during a news conference that the central bank’s bond purchases, which have propped up the economy since the depths of the pandemic downturn, “still have a use, but it’s time for us to begin to taper them.”

That unusual candor came for a reason: Fed officials have been trying to fully prepare markets for their first move away from enormous economic support. Policymakers could announce a slowdown to their monthly government-backed securities purchases as soon as November, the Fed’s next meeting, and the program may come to a complete end by the middle of next year, Mr. Powell later said. He added that there was “very broad support” on the policy-setting Federal Open Market Committee for such a plan.

Nearly 20 months after the coronavirus pandemic first shook America, the Fed is trying to guide an economy in which business has rebounded as consumers spend strongly, helped along by repeated government stimulus checks and other benefits.

markets on edge. In the United States, partisan wrangling could imperil future government spending plans or even cause a destabilizing delay to a needed debt ceiling increase.

Mr. Powell and his colleagues are navigating those crosscurrents at a time when inflation is high and the labor market, while healing, remains far from full strength. They are weighing when and how to reduce their monetary policy support, hoping to prevent economic or financial market overheating while keeping the recovery on track.

“They want to start the exit,” said Priya Misra, global head of rates strategy at T.D. Securities. “They’re putting the markets on notice.”

Investors took the latest update in stride. The S&P 500 ended up 1 percent for the day, slightly higher than it was before the Fed’s policy statement was released, and yields on government bonds ticked lower, suggesting that investors didn’t see a reason to radically change their expectations for interest rates.

The Fed has been holding its policy rate at rock bottom since March 2020 and is buying $120 billion in government-backed bonds each month, policies that work together to keep many types of borrowing cheap. The combination has fueled lending and spending and helped to foster stronger economic growth, while also contributing to record highs in the stock market.

fresh set of economic projections on Wednesday, laying out their predictions for growth, inflation and the funds rate through the end of 2024. Those included the “dot plot” — a set of anonymous individual estimates showing where each of the Fed’s 18 policymakers expect their interest rate to fall at the end of each year.

last released in June. This was the first time the Fed has released 2024 projections, and officials expected rates to stand at 1.8 percent at the end of that year.

sharply higher in recent months, elevated by supply-chain disruptions and other quirks tied to the pandemic. The Fed’s preferred metric, the personal consumption expenditures index, climbed 4.2 percent in July from a year earlier.

Fed officials expected inflation to average 4.2 percent in the final quarter of 2021 before falling to 2.2 percent in 2022, the new forecasts showed.

Central bankers are trying to predict how inflation will evolve in the coming months and years. Some officials worry that it will remain elevated, fueled by strong consumption and newfound corporate pricing power as consumers come to expect and accept higher costs.

Others fret that the same factors pushing prices higher today will lead to uncomfortably low inflation down the road — for instance, used car prices have contributed heavily to the 2021 increase and could fall as demand wanes. Tepid price increases prevailed before the pandemic started, and the same global trends that had been weighing inflation down could once again dominate.

“Inflation expectations are terribly important, we spend a lot of time watching them, and if we did see them moving up in a troubling way” then “we would certainly react to that,” Mr. Powell said. “We don’t really see that now.”

The Fed’s second goal — full employment — also remains elusive. Millions of jobs remain missing compared with before the pandemic, even after months of historically rapid employment gains. Officials want to avoid lifting interest rates to cool off the economy before the labor market has fully healed. It’s difficult to know when that might be, because the economy has never recovered from pandemic-induced lockdowns before.

“The process of reopening the economy is unprecedented, as was the shutdown at the onset of the pandemic,” Mr. Powell said on Wednesday.

Given those uncertainties, the Fed is likely to move cautiously on raising interest rates. And while Mr. Powell teed up a possible November announcement that the Fed would start slowing its bond-buying, even that is subject to change if the economy does not shape up as expected — or if major risks on the horizon materialize.

“The start of tapering would be delayed if the debt ceiling standoff is unresolved and markets are in turmoil,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note following the meeting.

Yet Mr. Powell made clear that the Fed was not equipped to ride to the rescue if lawmakers could not resolve their differences.

“It’s just very important that the debt ceiling be raised in a timely fashion,” Mr. Powell said, adding that “no one should assume the Fed or anyone else can protect markets and the economy in the event of a failure” to “make sure that we do pay those, when they’re due.”

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Pentair Announces Quarterly Cash Dividend

LONDON–(BUSINESS WIRE)–Pentair plc (NYSE: PNR) announced today that it will pay a regular quarterly cash dividend of $0.20 per share on November 5, 2021 to shareholders of record at the close of business on October 22, 2021. 2021 marks the 45th consecutive year that Pentair has increased its dividend.

ABOUT PENTAIR PLC

Pentair makes the most of life’s essential resources. From our residential and business solutions that help people move, improve and enjoy their water, to our sustainable innovations and applications, we deliver smart, sustainable solutions for life.

Pentair had revenue in 2020 of $3 billion, and trades under the ticker symbol PNR. With approximately 9,750 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit Pentair.com.

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Why Our Monsters Talk to Michael Wolff

I couldn’t write about these kind of blurred journalistic lines, of course, without disclosing my largely friendly relationship with Mr. Wolff. I first encountered him in 2009, when he profiled my then-employer, Politico, and wrote in passing that I was a “total dweeb” who was “the only one as interested in what his sources are doing as they themselves are.” I felt both insulted and pretty much seen.

After that, I sought him out for occasional career advice, which he gave generously. In 2014, he invited me to a dinner with executives at Uber, and neglected to ask me to agree that it was off the record. When I published one executive’s explosive suggestion to me that the company dig up dirt on the journalists who had been covering the company, Mr. Wolff, then a columnist for USA Today, blasted me in print as “a gotcha political blogger” who had grown “censorious and moralistic.” (Fair.) A couple of weeks later, he took further revenge by publishing an indiscreet comment I had made to him in private. I was furious. I also figured we were even. And when I was thinking last year about writing a book, I asked him how to do it. He told me, You start with a blank piece of paper, and on the top, you write the amount of money you want.

Mr. Wolff seems to be following his own advice as he cashes in on the success of “Fire and Fury” with his third book in four years. But he offers a scarce commodity in a media market that has moved away from his kind of journalism. A hot political environment has taught many reporters to see their work in moral, even didactic, terms. Magazine writers are out looking for heroes, not villains, and they appear to have little interest in understanding why our bad men do the things they do.

But monsters are fascinating. And Mr. Wolff “doesn’t have that sort of natural recoil to some of the more odious people in the world,” said Janice Min, his former editor at The Hollywood Reporter.

After we parted, he emailed me that he would prefer that his beat not be described as “elderly sex abusers.” It has simply turned out that the class of media moguls he covers “has turned out to, disproportionately, include many sex abusers,” he said.

That generation may, at last, be aging out, meaning Mr. Wolff risks running out of subjects. When I asked who will hold his interest in the years to come, he said he was “scouting the next generation” of powerful media figures.

“Too Famous” includes a few of them — Jared Kushner, Tucker Carlson and Ronan Farrow. And Mr. Carlson, for one, was happy to sit down with Mr. Wolff. “He is one of the last interesting people in American media,” Mr. Carlson texted me. “Anyone who doubts that should have lunch with him.”

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Reporters in Afghanistan Face an Intolerant Regime: ‘Everything Changed Overnight’

Beloved shows removed from the airwaves. A television station cutting from a news report a story about a pregnant police officer who was reportedly fatally shot by the Taliban. A radio editor telling his colleagues to edit out anti-Taliban cheers from coverage of demonstrations in the capital.

Afghanistan’s vibrant free press and media industry, once celebrated as a success story and labeled one of the country’s most important achievements of the past two decades, has abruptly been transformed after the Taliban takeover of the country. Now, its survival is threatened by physical assaults, self-censorship and a dwindling journalist population less than a month after the Taliban seized control of Kabul, the capital, and began enforcing their hard-line Islamist policies.

The Taliban’s crackdown on the free press was even more evident on Wednesday after two Afghan journalists were detained and violently assaulted for covering a protest in Kabul. Photos showed the backsides of both reporters covered with bruises and gashes from being whipped repeatedly with cables, sparking an international outcry.

“The situation of free media is very critical,” said Neda, an anchor for a local television station in Kabul, identified by her nickname to protect her identity. “No one dares to ask the Taliban about their past wrongdoings and the atrocities they have committed.”

the Taliban rounded up scores of demonstrators around Kabul and journalists covering the protests, subjecting them to abuse in overcrowded jails, according to journalists who were present. The crackdown on the demonstrations and the ensuing coverage followed a Taliban announcement Tuesday that protests would not be allowed without government approval. At least 19 journalists were detained on Tuesday and Wednesday, the United Nations said.

“You’re lucky you have not been beheaded,” Taliban guards told one detained journalist as they kicked him in the head, Ravina Shamdasdani, a spokeswoman for the United Nations human rights office in Geneva, told reporters.

Reporters with Etilaat e Roz described being detained at the protests, then brought to a nearby police station where they were tied up and beaten with cables.

Taqi Daryabi, one of the reporters, said about a half-dozen Taliban members handcuffed him behind his back when he was on the ground on his stomach, then began kicking and hitting him until he lost consciousness.

“They beat so much that I couldn’t resist or move,” he said. “They forced me to the ground on my stomach, flogging me on my buttocks and back, and the ones who were in the front were kicking me in the face.”

Reporters working for Tolo News, Ariana News, Pajhwok News Agency and several freelance journalists have also been detained and beaten by the Taliban in the past three weeks, according to local media reports.

“The Taliban is quickly proving that earlier promises to allow Afghanistan’s independent media to continue operating freely and safely are worthless,” Steven Butler, Asia program coordinator for the Committee to Protect Journalists, said in a statement Wednesday. “We urge the Taliban to live up to those earlier promises, to stop beating and detaining reporters doing their job.”

On top of the dangerous environment, the flow of information from the government has slowed and become very limited. There used to be dozens of government spokesmen; now there are only a handful speaking for the new Taliban government, and they are less responsive than during the group’s insurgency.

In the late 1990s, the Taliban imposed strict restrictions on the media, banning television and using the state-owned radio and newspapers as propaganda platforms. But the group promised greater openness toward freedom of expression once it seized power last month.

“We will respect freedom of the press, because media reporting will be useful to society and will be able to help correct the leaders’ errors,” Zabihullah Mujahid, the acting deputy information and culture minister, told Reporters Without Borders last week. “We declare to the world that we recognize the importance of the role of the media.”

Many Afghan journalists said those promises are just “words” by Taliban’s leaders, citing recent assaults on reporters in Kabul and elsewhere.

“Press freedom is dead in Afghanistan,” said Mr. Quraishi, the media advocate. “And the society without a free press dies.”

Jim Huylebroek contributed reporting from Kabul, Afghanistan. Nick Bruce contributed from Geneva.

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Alibaba Faces Reckoning Over Harassment

At an employee dinner, women were told to rank the attractiveness of the men at the table. During a team-building exercise, a woman was pressured to straddle her male co-worker in front of colleagues. Top executives traded lewd comments about male virility at company events and online.

The e-commerce giant Alibaba, one of China’s most globalized internet companies, has often celebrated the number of women in its senior ranks. In 2018, the company’s billionaire co-founder, Jack Ma, told a conference in Geneva that one secret to Alibaba’s success was that 49 percent of employees were women.

But that message of female empowerment is now being called into question after an Alibaba employee accused her boss of raping her after an alcohol-fueled business dinner. The woman, who has been identified by the police and her lawyers only by her surname, Zhou, said bosses and human resources had shrugged off her complaints. She eventually resorted to screaming about the assault in a company cafeteria last month.

“An Ali male executive raped a female subordinate, and no one in the company has pursued this,” Ms. Zhou yelled, according to a video that was posted on the internet.

fired the man accused of rape, said it would establish an anti-sexual-harassment policy and declared itself “staunchly opposed to the ugly forced drinking culture.” Yet former Alibaba employees say the problems run much deeper than the company has acknowledged.

Interviews with nine former employees suggest that casual sexism is common at Alibaba. They describe a work environment in which women are made to feel embarrassed and belittled during team-building and other activities that the company has incorporated in its culture, a striking departure from the image of inclusion Alibaba has tried to project.

The police investigation into Ms. Zhou’s case is continuing. Alibaba appears to be trying to keep a lid on discussions of the matter. The company recently fired 10 employees for leaking information about the episode, according to two people familiar with the matter. Most former employees who spoke with The New York Times asked to remain anonymous because they feared retaliation.

immediate changes to the way it handles workplace culture and misconduct matters after Ms. Zhou’s case came to light, the statement said. Upon examining its policies and reporting processes, the company found “certain areas that did not meet our standards,” the statement said.

The statement did not address any of the specific allegations made by the former employees who spoke to The Times.

Many Alibaba departments use games and other ice-breaking activities to make co-workers feel at ease with one another. Kiki Qian joined the company in 2017. Her team welcomed her with a game of charades. When she lost, she said, she was punished by being made to “fly the plane,” as her co-workers called it. The stunt involved straddling a male colleague as he sat in an office chair. The colleague then lay back in the chair, causing Ms. Qian to fall on top of him, face first.

“I realized while carrying out the punishment that it could be a little perverted,” Ms. Qian, 28, said in a telephone interview.

On a separate occasion, Ms. Qian said, she saw a woman burst into tears after being pressured to jump into the arms of a male colleague during a team game.

Other former Alibaba employees said ice-breaking rituals included uncomfortable questions about their sexual histories. One former employee said she and other women at a team dinner had been asked to rank their male colleagues by attractiveness. Another said she had felt humiliated during a game in which employees were required to touch each other on the shoulders, back and thighs.

Mr. Ma joked onstage about how Alibaba’s grueling work hours affected employees’ sex lives.

went further with the riff at the next year’s ceremony.

“At work, we emphasize the 996 spirit,” he said, referring to the practice, common at Chinese internet companies, of working 9 a.m. to 9 p.m., six days a week.

“In life, we need 669,” Mr. Ma said. “Six days, six times.” The Mandarin word for “nine” sounds the same as the word for “long-lasting.” The crowd hooted and clapped.

Alibaba shared the remarks, with a winking emoji, on its official account on Weibo, the Chinese social media platform. Wang Shuai, the company’s public relations chief, wrote on Weibo that Mr. Ma’s comments had reminded him of how good it was to be young. His post included vulgar references to his anatomy.

Alibaba also gives employees a handbook of morale-boosting “Alibaba slang.” Several entries are laced with sexual innuendo. One urges employees to be “fierce and able to last a long time.”

Feng Yuan, a prominent feminist in China, said the kind of behavior described at Alibaba could create the conditions under which bullying and harassment were quietly tolerated and promoted.

“In companies where men dominate, hierarchical power structures and toxic masculinity become strengthened over time,” Ms. Feng said. “They become hotbeds for sexual harassment and violence.”

Last month, Ms. Zhou shared her rape accusation on Alibaba’s internal website. According to her account of the events, her boss told a male client who was also at the alcohol-fueled business dinner, “Look how good I am to you; I brought you a beauty,” referring to Ms. Zhou.

Boozy meals have long been widespread in corporate China, where it can be seen as offensive to refuse to drink with a superior. Three days after Ms. Zhou reported the assault to Alibaba, her boss still had not been fired, she wrote in her account. She was told that this was out of consideration for her reputation.

“This ridiculous logic,” she wrote. “Just who are they protecting?”

Elsie Chen contributed reporting. Albee Zhang and Claire Fu contributed research.

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Companies Begin to Mandate Covid Vaccines for Employees

Some of the nation’s largest employers, for months reluctant to wade into the fraught issue of whether Covid-19 vaccinations should be mandatory for workers, have in recent days been compelled to act as infections have surged again.

On Tuesday, Tyson Foods told its 120,000 workers in offices, slaughterhouses and poultry plants across the country that they would need to be vaccinated by Nov. 1 as a “condition of employment.” And Microsoft, which employs roughly 100,000 people in the United States, said it would require proof of vaccination for all employees, vendors and guests to gain access to its offices.

Last week, Google said it would require employees who returned to the company’s offices to be vaccinated, while Disney announced a mandate for all salaried and nonunion hourly workers who work on site.

Other companies, including Walmart, the largest private employer in the United States, and Lyft and Uber, have taken a less forceful approach, mandating vaccines for white-collar workers but not for millions of frontline workers. Those moves essentially set up a divide between the employees who work in offices and employees who deal directly with the public and, collectively, have been more reluctant to get the shots.

different set of reasons that are not primarily political. They say many of their members are worried about potential health side effects or bristle at the idea of an employer’s interfering in what they regard as a personal health decision.

Marc Perrone, the president of the United Food and Commercial Workers union, representing 1.3 million employees in grocery chains such as Kroger and at large meatpacking plants, said he would not support employer mandates until the Food and Drug Administration gave full approval to the vaccine, which is being administered on an emergency basis.

“You can’t just say, ‘Accept the mandate or hit the door,’” Mr. Perrone said in an interview on Monday.

After Tyson announced its vaccine mandate on Tuesday, Mr. Perrone issued a statement that the union “will be meeting with Tyson in the coming weeks to discuss this vaccine mandate and to ensure that the rights of these workers are protected and this policy is fairly implemented.”

several meat plants became virus hot spots. Now, it is requiring its leadership team to be vaccinated by Sept. 24 and the rest of its office workers by Oct. 1. Frontline employees have until Nov. 1 to be fully inoculated, extra time the company is providing because there are “significantly more frontline team members than office workers who still need to be vaccinated,” a Tyson spokesman said.

Throughout the pandemic, companies have treaded carefully in carrying out public health measures while trying to avoid harm to their businesses.

Last year, when major retailers began requiring customers to wear masks, they quietly told their employees not to enforce the rule if a customer was adamant about not wearing one.

Companies like Walmart have tried a similarly tentative approach with vaccine requirements.

Walmart announced last week that it was requiring the roughly 17,000 workers in its Arkansas headquarters to be vaccinated but not those in stores and distribution centers, who make up the bulk of its 1.6 million U.S. employees.

In a statement, the retailer said the limited mandate would send a message to all workers that they should get vaccinated.

“We’re asking our leaders, which already have a higher vaccination rate, to make their example clear,” the company said. “We’re hoping that will influence even more of our frontline associates to become vaccinated.”

Lyft told their corporate employees last week that they would need to show proof they had been inoculated before returning to company offices.

Requiring vaccinations “is the most effective way to create a safe environment and give our team members peace of mind as we return to the office,” said Ashley Adams, a spokeswoman for Lyft.

But those mandates did not extend to the workers the companies contract with to drive millions of customers to and from their destinations. The drivers are being encouraged to be vaccinated, but neither Lyft or Uber has plans to require them.

Public health experts warn that limited mandates may reinforce the gaping divide between the nation’s high- and low-wage workers without furthering the public health goal of substantially increasing vaccination rates.

They also say it’s naïve to think that workers who resisted vaccines for ideological reasons would suddenly change their mind after seeing a company’s higher-paid executives receive the shots.

“Ultimately we want to ensure that they really have the broadest reach,” Dr. Kirsten Bibbins-Domingo, the vice dean for population health and health equity at the University of California, San Francisco, said of company directives. “Failing to do that, I think, will only cause others to be more suspicious of these types of mandates.”

Legally, companies are likely to be on solid ground if they mandate vaccines. Last year, the Equal Employment Opportunity Commission said employers could require immunization, though companies that do could still face lawsuits.

George W. Ingham, a partner at the law firm Hogan Lovells, said companies with mandates would potentially have to make difficult decisions.

“They are going to have to fire high performers and low performers who refuse vaccines,” he said. “They have to be consistent.” Reasons an employee could be exempted include religious beliefs or a disability, though the process of sorting those out on an individual basis promises to be an arduous one.

Companies may also have to contend with pushback from state governments. Ten states have passed legislation limiting the ability to require vaccines for students, employees or the public, according to the National Conference of State Legislatures.

Disney is among the few big companies pursuing a broad vaccine mandate for their work forces, even in the face of pushback from some employees.

In addition to mandating vaccines for nonunion workers who are on-site, Disney said all new hires — union and nonunion — would be required to be fully vaccinated before starting their jobs. Nonunion hourly workers include theme park guest-relations staff, in-park photographers, executive assistants and some seasonal theme park employees.

It was the furthest that Disney could go without a sign-off from the dozen unions that represent the bulk of its employees. Walt Disney World in Florida, for instance, has more than 65,000 workers; roughly 38,000 are union members.

Disney is now seeking union approval for the mandate both in Florida and in California, where tens of thousands of workers at the Disneyland Resort in Anaheim are unionized. Most of the leaders of Disney’s unions appear to be in favor of a mandate — as long as accommodations can be worked out for those refusing the vaccine for medical, religious or other acceptable reasons.

“Vaccinations are safe and effective and the best line of defense to protect workers, frontline or otherwise,” Eric Clinton, the president of UNITE HERE Local 362, which represents roughly 8,000 attraction workers and custodians at Disney World, said in a phone interview.

Mr. Clinton declined to comment on any pushback from his membership, but another union leader at Disney World, speaking on the condition of anonymity so he could speak candidly, said “a fair number” of his members were up in arms over Disney-mandated vaccinations, citing personal choice and fear of the vaccine.

“The company has probably done a calculation and decided that some people will unfortunately quit rather than protect themselves, and so be it,” the person said.

Lananh Nguyen contributed reporting.

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To Fight Vaccine Lies, Authorities Recruit an ‘Influencer Army’

In March, the White House also orchestrated an Instagram Live chat between Dr. Fauci and Eugenio Derbez, a Mexican actor with over 16.6 million Instagram followers who had been openly doubtful of the vaccines. During their 37-minute discussion, Mr. Derbez was upfront about his concerns.

“What if I get the vaccine, but it doesn’t protect me against the new variant?” he asked. Dr. Fauci acknowledged that the vaccines might not completely shield people from variants, but said, “It’s very, very good at protecting you from getting seriously ill.”

Mr. Flaherty said the whole point of the campaign was to be “a positive information effort.”

State and local governments have taken the same approach, though on a smaller scale and sometimes with financial incentives.

In February, Colorado awarded a contract worth up to $16.4 million to the Denver-based Idea Marketing, which includes a program to pay creators in the state $400 to $1,000 a month to promote the vaccines.

Jessica Bralish, the communications director at Colorado’s public health department, said influencers were being paid because “all too often, diverse communities are asked to reach out to their communities for free. And to be equitable, we know we must compensate people for their work.”

As part of the effort, influencers have showed off where on their arms they were injected, using emojis and selfies to punctuate the achievement. “I joined the Pfizer club,” Ashley Cummins, a fashion and style influencer in Boulder, Colo., recently announced in a smiling selfie while holding her vaccine card. She added a mask emoji and an applause emoji.

“Woohoo! This is so exciting!” one fan commented.

Posts by creators in the campaign carry a disclosure that reads “paid partnership with Colorado Dept. of Public Health and Environment.”

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American Campus Communities Leads Student Housing Industry with Four Innovator Awards at Annual InterFace Conference

AUSTIN, Texas–(BUSINESS WIRE)–American Campus Communities (NYSE: ACC), the nation’s largest student housing company, has once again been recognized in multiple award categories of Student Housing Business Magazine’s InterFace Conference Innovator Awards.

The Innovator Awards are given to student housing owners, developers, operators, architecture firms and universities for excellence in student housing development, marketing and operations. More than 100 industry experts judged on more than 140 entries in this year’s contest. This was the largest number of submissions to date.

ACC has been honored with the following on-campus awards for 2021:

“It’s an honor to be recognized alongside our innovative university partners for two communities, Manzanita Square and the UIC Academic and Residential Complex, that go above and beyond to create environments conducive to academic success and personal well-being for our students,” said Bill Bayless, CEO at ACC. “Our ACC team members across the country have remained focused on fulfilling our mission of putting students first and creating a place where they love living.”

Bayless gave the keynote address at the conference on Wednesday, July 14th at the JW Marriott in Austin, Texas. In total, ACC has been awarded 43 SHB Innovator Awards since 2013.

About American Campus Communities

American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. As of March 31, 2021, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACC’s total managed portfolio consisted of 207 properties with approximately 142,400 beds. Visit www.americancampus.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. These statements are based on management’s current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the “company”) operates, operational strategies, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward looking-statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact, and those discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 under the heading “Risk Factors” and under the heading “Business – Forward-looking Statements” and subsequent quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statements, including our preleasing activity or expected full year 2021 operating results, whether as a result of new information, future events, or otherwise.

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