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Showing posts from September, 2023

How China’s Property Crisis Is Testing Its Too-Big-to-Fail Banks

Banks hold enormous amounts of real estate debt, and regulators are nervous. But a fast-moving crisis is unlikely because the government has extensive control of the system. source https://www.nytimes.com/2023/09/30/business/china-evergrande-banks-property.html

I.R.S. Contractor Charged With Leaking Tax Returns

The federal charges are said to involve disclosure of tax information from Donald Trump and other wealthy taxpayers. source https://www.nytimes.com/2023/09/29/us/politics/irs-contractor-charged-with-leaking-tax-returns.html

Robert Day, Financier and Philanthropist, Dies at 79

An heir to an oil fortune, he built his own empire with TCW Group and was an influential California donor, including to his alma mater, Claremont McKenna College. source https://www.nytimes.com/2023/09/29/business/dealbook/robert-day-dead.html

Legal Arrangement in ‘Blind Side’ Case Is Terminated

A judge ended a nearly 20-year-old conservatorship that had given a couple broad authority over the affairs of the former N.F.L. player Michael Oher. source https://www.nytimes.com/2023/09/29/business/michael-oher-conservatorship.html

Transactions Between Bernard Arnault and Russian Businessman Face Scrutiny

French prosecutors are looking at a 2018 real estate deal between the head of the LVMH luxury empire and Nikolai Sarkisov, a Russian insurance magnate. source https://www.nytimes.com/2023/09/29/business/lvmh-bernard-arnault-nikolai-sarkisov-money-laundering.html

Viewership Fell Sharply for Second G.O.P. Debate

Fewer than 10 million people watched the Republican presidential candidates on Wednesday, according to preliminary data from Nielsen. source https://www.nytimes.com/2023/09/28/business/media/republican-debate-ratings.html

European Central Bank Is Studying A.I. as a New Tool

Artificial intelligence may help policymakers understand inflation and regulate big lenders, the central bank said. source https://www.nytimes.com/2023/09/28/business/european-central-bank-artificial-intelligence.html

China Evergrande Suspends Trading as New Trouble Roils Property Market

The real estate firm halted critical work to settle its debts and investors dumped their stock amid news executives were under suspicion by the authorities. source https://www.nytimes.com/2023/09/28/business/china-evergrande-trading-halted.html

What the U.S.-China Chip War Means for a Critical American Ally

South Korea’s vital semiconductor sector depends on China. A deadline looms for how it could be affected by U.S. efforts to control China’s tech advance. source https://www.nytimes.com/2023/09/27/business/samsung-hynix-south-korea.html

What the U.S.-China Chip War Means for a Critical American Ally

South Korea’s vital semiconductor sector depends on China. A deadline looms for how it could be affected by U.S. efforts to control China’s tech advance. source https://www.nytimes.com/zh-hans/2023/09/27/business/samsung-hynix-south-korea.html

Studios and Striking Actors Will Resume Talks on Monday

The two sides announced the step a day after the leadership of the Hollywood writers’ union approved a tentative deal that ended its monthslong strike. source https://www.nytimes.com/2023/09/27/business/media/sag-aftra-actors-strike-talks.html

U.A.W. Says It Could Expand Auto Strikes on Friday

The United Automobile Workers union said the strikes against General Motors, Ford and Stellantis could grow on Friday if negotiators don’t make enough progress. source https://www.nytimes.com/2023/09/27/business/economy/uaw-strikes-gm-ford-stellantis.html

TV and Movie Writers to Begin Returning to Work on Wednesday

The leadership of the Writers Guild of America voted to end a 148-day strike. Members will start voting on the deal’s ratification next week. source https://www.nytimes.com/2023/09/26/business/hollywood-writers-return.html

Biden Administration Plans to Bring Back ‘Net Neutrality’ Rules

The head of the Federal Communications Commission said the government needed to protect open access to the “essential infrastructure of modern life.” source https://www.nytimes.com/2023/09/26/technology/net-neutrality-rules-broadband-internet-biden.html

Biden Administration Plans to Bring Back ‘Net Neutrality’ Rules

The head of the Federal Communications Commission said the government needed to protect open access to the “essential infrastructure of modern life.” source https://www.nytimes.com/2023/09/26/business/net-neutrality-rules-broadband-internet-biden.html

Overlooked No More: Alice Anderson, Who Ran Australia’s First All-Woman Garage

Her car repair business was described as having a staff “capable of doing the jobs any male member of the automobile industry would undertake.” source https://www.nytimes.com/2023/09/26/obituaries/alice-anderson-overlooked.html

Biden Joins UAW Picket Line in Michigan

The president’s trip came a day before former President Donald J. Trump was scheduled to arrive in Michigan, as the two offer dueling messages in a key swing state. source https://www.nytimes.com/2023/09/26/us/politics/biden-uaw-strike-picket-michigan.html

Top Apple Executive Defends Favoring Google on iPhones

Eddy Cue, a longtime executive at the company, said Apple’s multibillion-dollar deals with Google were driven by quality, not money. source https://www.nytimes.com/2023/09/26/technology/apple-executive-google-trial-iphones.html

Target, Citing Theft, to Close Nine Stores

The retailer will close locations in New York, San Francisco, Seattle and Portland, saying its business had been hurt and the safety of employees and customers was at risk. source https://www.nytimes.com/2023/09/26/business/target-store-closures-theft.html

Can the U.S. Make Solar Panels? This Company Thinks So.

First Solar kept producing them in Ohio after most of the industry moved to China. President Biden wants many more domestic manufacturers. source https://www.nytimes.com/2023/09/26/business/energy-environment/first-solar-panels-biden-ira.html

Slowing, Graying and in Debt, Can China’s Industrial Heartland Be Revived?

China, facing an economic slump, wants to make its industrial northeast more productive, turning to policies that some economists say have outlived their time. source https://www.nytimes.com/2023/09/26/business/china-economy-factories-liaoning.html

Ford Halts Work on E.V. Battery Plant in Michigan

The company cited concerns about operating the factory competitively. It’s not clear if the pause is linked to its dispute with the United Auto Workers. source https://www.nytimes.com/2023/09/25/business/energy-environment/ford-battery-plant-michigan.html

New York’s Best (Fake) Steak House Opens Up

Mehran’s Steak House was just a name, created as an in-joke. But when its waiting list drew hundreds, the pranksters decided to stage dinner — for one night only. source https://www.nytimes.com/2023/09/25/dining/nyc-best-fake-steakhouse.html

A Government Shutdown Looms. What Services and Benefits Could Be Affected?

Many federal agencies have plans in place to weather a shutdown, but a disruption would still affect critical government services. source https://www.nytimes.com/2023/09/25/us/politics/government-shutdown.html

Amazon to Invest Up to $4 Billion in A.I. Start-Up Anthropic

With its investment of up to $4 billion, Amazon is seeking a bigger footprint in A.I. development, one already established by rivals like Microsoft and Google. source https://www.nytimes.com/2023/09/25/technology/amazon-anthropic-ai-deal.html

Amazon to Invest Up to $4 Billion in A.I. Start-up Anthropic

Tech giants have been partnering with up-and-coming A.I. start-ups, like Microsoft backing OpenAI, but Amazon has not been as active as rivals until now. source https://www.nytimes.com/2023/09/25/business/amazon-anthropic-ai-deal.html

Writers’ Strike Ends With Tentative Deal: What Happens Next

Before Hollywood gets fully back to work, writers need to vote on the tentative agreement, and talks between companies and striking actors must restart. source https://www.nytimes.com/2023/09/25/business/wga-writers-strike-deal-explained.html

Meet the Climate-Defying Fruits and Vegetables in Your Future

Hot-weather cherries, drought-resistant melons and six other crops in the works that could change how we eat in a fast-warming world. source https://www.nytimes.com/2023/09/25/dining/climate-change-fruits-vegetables.html

Writers Guild and Studios Reach Deal to End Their Strike

The Writers Guild of America got most of what it wanted. With actors still on picket lines, however, much of Hollywood will remain shut down. source https://www.nytimes.com/2023/09/25/business/media/hollywood-writers-strike-deal.html

Greece, Battered a Decade Ago, Is Booming

It is one of Europe’s fastest-growing economies, and while investors and tourists are flocking to the country, memories of austerity measures are still fresh for Greeks. source https://www.nytimes.com/2023/09/25/business/greece-economy-eurozone.html

Actors in Hollywood Remain on Strike Despite Deal With Writers

The writers’ agreement could expedite negotiations, as some of SAG-AFTRA’s concerns are similar to ones raised by the Writers Guild. source https://www.nytimes.com/2023/09/24/business/media/actors-strike-hollywood-sag-aftra.html

Canadian Labor Union Votes to Ratify Contract With Ford

The deal with Unifor was a relief for the Detroit automaker, whose U.S. union has begun a limited strike over better pay and benefits. source https://www.nytimes.com/2023/09/24/business/canada-union-unifor-ford.html

How Dana Perino, G.O.P. Debate Moderator, Walks a Fine Line at Fox News

The former press secretary in the Bush White House will moderate the next Republican debate. She’s managed to rise at Fox without being a Trump supplicant. source https://www.nytimes.com/2023/09/24/business/dana-perino-fox-news.html

How Japan’s Salarymen Embraced Short Sleeves Through ‘Cool Biz’

Under “Cool Biz,” salarymen and government workers don short-sleeved shirts in the summer as offices are kept above 82 degrees Fahrenheit to save energy. source https://www.nytimes.com/2023/09/24/business/japan-cool-biz.html

UAW Deal With Ford Could Put Pressure on G.M. and Stellantis

Talks continued on Saturday with all three companies, a day after the U.A.W. expanded its strike at G.M. and Stellantis. source https://www.nytimes.com/2023/09/23/business/uaw-strike-ford-general-motors-stellantis.html

Netflix Prepares to Send Its Final Red Envelope

The company’s DVD subscription service is ending this month, bringing to a close an origin story that ultimately upended the entertainment industry. source https://www.nytimes.com/2023/09/23/business/media/netflix-dvds.html

Progress in Hollywood Writers’ Strike Negotiations, but No Deal Yet

A third straight day of bargaining between the studios and the union ended without an agreement. Talks will continue on Saturday. source https://www.nytimes.com/2023/09/23/business/media/hollywood-writers-strike-negotiations.html

How Qantas Sullied Its Once-Mighty Brand in Australia

A string of scandals has left Qantas Airways, which calls itself “the spirit of Australia,” near the bottom of public opinion at home. source https://www.nytimes.com/2023/09/23/business/australia-qantas-scandals-reputation.html

U.S. Issues Final Rules to Keep Chip Funds Out of China

The rules, which aim to prevent chip makers from using new U.S. subsidies to benefit China, take into account the industry’s perspective. source https://www.nytimes.com/2023/09/22/us/politics/us-final-rules-chip-makers-china.html

Rupert Murdoch’s Retirement Raises the Curtain on His Last Act

The media mogul has stepped back from the forefront of his empire, but there’s likely more to come — like a step to cement power for his son Lachlan. source https://www.nytimes.com/2023/09/22/business/media/rupert-murdoch-lachlan-murdoch-fox-news-corp.html

Rethink on Rates Caps Bad Week on Wall Street

The Federal Reserve’s message of higher rates for a longer period of time has led investors to question their assumptions. source https://www.nytimes.com/2023/09/22/business/stocks-bonds-rates.html

Real Estate Crisis Triggers New Alarms Over China’s Shadow Banks

A financially troubled firm has stopped paying investors, risking panic and testing the Chinese government’s resolve to take on debts from its property crisis. source https://www.nytimes.com/2023/09/22/business/china-economy-trusts-zhongrong-zhongzhi.html

Hollywood Writers’ Strike: A Full Day of Negotiations But No Deal

After two straight days of talks, the studios and the writers still remained apart on several points. source https://www.nytimes.com/2023/09/21/business/media/writers-strike-negotiations.html

U.S. Judge Denies States’ Bid to Block Biden Rule on E.S.G.

Republican-led states accused the Labor Department of violating a federal law covering retirement plans, part of a battle that goes back several years. source https://www.nytimes.com/2023/09/21/business/texas-judge-esg-biden.html

FTC Sues Anesthesia Group Backed by Private Equity, Claiming Antitrust

The federal agency claims the company’s practices amount to antitrust activity, a new salvo in the government’s scrutiny of health care consolidation that has led to higher prices. source https://www.nytimes.com/2023/09/21/health/ftc-antitrust-healthcare.html

FTC Sues Anesthesia Group Backed by Private Equity, Claiming Antitrust

The federal agency claims the company’s practices amount to antitrust activity, a new salvo in the government’s scrutiny of health care consolidation that has led to higher prices. source https://www.nytimes.com/2023/09/21/health/policy/ftc-antitrust-healthcare.html

Victor R. Fuchs, ‘Dean’ of American Health Care Economists, Dies at 99

He was among the first to offer a comprehensive explanation, and a possible solution, for the country’s rising health care costs. source https://www.nytimes.com/2023/09/21/business/victor-r-fuchs-dead.html

How Rupert Murdoch Built His Media Empire

Over seven decades, the Australian-born magnate compiled an array of news outlets, book publishers, and film and television properties into a global behemoth. source https://www.nytimes.com/2023/09/21/business/rupert-murdoch-media-empire.html

Family of Man Who Drove Off Collapsed Bridge Says Google Maps Sent Him There

Philip Paxson’s family said in a lawsuit that he was following Google Maps directions last year when he drove off a collapsed bridge in Hickory, N.C., plunged into a creek and drowned. source https://www.nytimes.com/2023/09/21/us/google-maps-lawsuit-collapsed-bridge.html

How to Claim Your Fortnite Refund

Epic Games, the maker of Fortnite, agreed to pay $245 million to refund customers over accusations that it tricked players into making unwanted purchases. source https://www.nytimes.com/2023/09/21/business/fortnite-refund-ftc-settlement.html

The Lawyers Sam Bankman-Fried Once Trusted Are Drawing Criticism

Mr. Bankman-Fried and his allies have blasted Sullivan & Cromwell, the New York law firm managing FTX’s bankruptcy, for its tangled relationship with the crypto exchange. source https://www.nytimes.com/2023/09/21/technology/ftx-sam-bankman-fried-lawyers.html

Hong Kong Says It Calls the Shots, Not Beijing. Investors Are Wary.

Its close ties to Beijing are putting the city, still an international financial hub, in a bind as it lures Western investors to revive its economy. source https://www.nytimes.com/2023/09/21/business/hong-kong-stocks-financial-hub.html

Top Studio Executives Join Writers’ Strike Negotiations

The stalemate is in its fifth month, and talks between the union and the Hollywood studios resumed for the first time since August. source https://www.nytimes.com/2023/09/20/business/media/writers-strike-talks-executives.html

Ford Averts Auto Strike in Canada as UAW Talks in U.S. Inch Along

The United Auto Workers union is threatening to expand strikes on Friday if it does not make significant progress in talks with General Motors, Ford and Stellantis. source https://www.nytimes.com/2023/09/20/business/economy/ford-canada-labor-deal-unifor.html

How to Get the Best Foreign Exchange Rate

How to avoid foreign transaction and bank fees, and where to get the best rate when you travel abroad. source https://www.nytimes.com/2023/09/20/travel/foreign-exchange-how-to-get-the-best-rate.html

Unions Fight in the States to Make Biden’s Climate Agenda Work for Workers

Labor leaders worry that some federal incentives for renewable energy do not come with strict standards on pay. In Maine, they added their own. source https://www.nytimes.com/2023/09/20/business/unions-jobs-maine-biden-climate-agenda.html

U.K. Inflation Rate Slips Lower for Third Straight Month

Prices rose at an annual rate of 6.7 percent in August. A rise in energy costs was offset by a slower increase in food prices. source https://www.nytimes.com/2023/09/20/business/uk-inflation.html

SEC Charges Concord, the Money Manager Tied to Roman Abramovich

The Securities and Exchange Commission charged Concord, which managed billions of dollars for Roman Abramovich, with failing to register as an investment adviser. source https://www.nytimes.com/2023/09/19/business/sec-concord-abramovich.html

Supply of Clorox Wipes Could Be Affected After Cyberattack

The company said a cyberattack discovered in August caused “wide-scale disruption” to its operations. source https://www.nytimes.com/2023/09/19/business/clorox-cyberattack-shortage.html

Britain Passes Sweeping New Online Safety Law

The far-reaching bill had set off debates about balancing free speech and privacy rights against efforts to halt the spread of harmful content online. source https://www.nytimes.com/2023/09/19/technology/britain-online-safety-law.html

Sam Bankman-Fried’s Parents Sued by FTX

The lawyers overseeing the bankrupt cryptocurrency exchange accused Joe Bankman and Barbara Fried of enriching themselves with money their son stole from customers. source https://www.nytimes.com/2023/09/19/business/ftx-sam-bankman-fried-parents-sued.html

How Hudson River Park Helped Revitalize Manhattan’s West Side

Developers have poured billions of dollars into transforming neighborhoods in a former industrial area, attracting companies like IAC and Google, and legions of residents. source https://www.nytimes.com/2023/09/19/business/hudson-river-park-development-manhattan.html

Strike Is a High-Stakes Gamble for Autoworkers and the Labor Movement

Experts on unions and the industry said the U.A.W. strike could accelerate a wave of worker actions, or stifle labor’s recent momentum source https://www.nytimes.com/2023/09/19/business/economy/strike-autoworkers-labor.html

Hollywood Strikes Send a Chill Through Britain’s Film Industry

Many U.S. studios’ blockbusters are filmed in Britain, so the walkouts by actors and screenwriters have caused thousands of U.K. film crews to lose work. source https://www.nytimes.com/2023/09/19/business/hollywood-strikes-uk-filmmaking-industry.html

Instacart Prices I.P.O. at $30 a Share, Raising $660 Million

The grocery delivery company priced its offering at the high end of expectations, in a potentially upbeat sign for tech public offerings. source https://www.nytimes.com/2023/09/18/technology/instacart-ipo-share-price.html

U.S. National Debt Tops $33 Trillion for First Time

The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming. source https://www.nytimes.com/2023/09/18/us/politics/us-national-debt.html

I.R.S. Changes Audit Practice That Discriminated Against Black Taxpayers

The agency will overhaul how it scrutinizes returns that claim the earned-income tax credit, which is aimed at alleviating poverty. source https://www.nytimes.com/2023/09/18/us/politics/irs-audits-black-taxpayers.html

Bill Maher Reverses Decision to Restart Show

Mr. Maher said he changed his mind about resuming his weekly HBO show because negotiations in the screenwriters’ strike were set to continue this week. source https://www.nytimes.com/2023/09/18/business/bill-maher-hollywood-strike.html

Can Ghana’s Debt Trap of Crisis and Bailouts Be Stopped?

The government of Ghana is essentially bankrupt, and has turned to the International Monetary Fund for its 17th financial rescue since 1957. source https://www.nytimes.com/2023/09/18/business/economy/ghana-debt-imf.html

Unions Stick With Hardball Tactics Like Strikes

In contract disputes from Detroit to Hollywood, organized labor leaders are holding firm in their efforts to gain more pay and job security for members. source https://www.nytimes.com/2023/09/18/business/dealbook/unions-strikes-uaw.html

TikTok Cookbook Authors

A growing number of video stars are using their online clout to break into the publishing world. And they’re changing the shape of the American cookbook. source https://www.nytimes.com/2023/09/18/dining/tiktok-cookbook-authors.html

Some Businesses Make ‘Woke Free’ a Selling Point

A number of companies — from clothing to pet care — are trying to appeal to customers who think corporate America is pushing a liberal agenda. source https://www.nytimes.com/2023/09/18/business/companies-conservative.html

Little Progress in Talks to End Strike Against 3 Detroit Automakers

The U.A.W. returned to the bargaining table on Sunday after its president warned, “We’re going to amp this thing up” if the car companies don’t improve their offers. source https://www.nytimes.com/2023/09/17/business/uaw-strike-ford-stellantis-gm.html

Jules Melancon, Oyster Farmer Who Tried Something New, Dies at 65

In the wake of hurricanes and the BP oil spill, he revolutionized his industry by turning from wild catches to cage farming his precious bivalves. source https://www.nytimes.com/2023/09/17/us/jules-melancon-dead.html

China’s Import Curbs on Cosmetics Face Pushback in Europe

Cosmetics sales in China are soaring, but a group of exporting nations led by France are pushing Beijing to lift restrictions they say are blocking them unfairly. source https://www.nytimes.com/2023/09/17/business/china-cosmetic-imports.html

UAW Union and Ford, General Motors and Stellantis Resume Talks

The United Auto Workers said it had “reasonably productive conversations with Ford” but did not mention G.M. or Stellantis. source https://www.nytimes.com/2023/09/16/business/uaw-strike-ford-stellantis-gm.html

California Sues Oil Giants, Claiming Decades of Deception

Launching one of the most prominent climate lawsuits in the nation, the state claims Exxon, Shell, BP and others misled the public and seeks creation of a special fund to pay for recovery. source https://www.nytimes.com/2023/09/15/business/california-oil-lawsuit-newsom.html

Bernie Sanders Condemns Corporate Greed at U.A.W. Detroit Rally

The senator from Vermont spoke of the growing gap between C.E.O. and worker pay, urging the leaders of the Big Three automakers to understand “the sacrifices your workers have made over the years.” source https://www.nytimes.com/2023/09/15/business/economy/bernie-sanders-uaw-detroit-rally.html

The Strike Could Mean a Rise in Car Prices for Consumers

If the U.A.W. strike lasts long enough, it could cut the supply of vehicles and push prices even higher. source https://www.nytimes.com/2023/09/15/business/economy/car-prices-uaw-strike.html

U.A.W. Holds Strike at GM, Ford and Stellantis. Here’s What to Know

The strike began on Friday morning at three plants, but could expand if contract talks remain bogged down. source https://www.nytimes.com/2023/09/15/business/economy/uaw-strike-explained-ford-stellantis-gm.html

Studios Say Talks With Striking Writers May Resume Next Week

The Alliance of Motion Picture and Television Producers said the union had asked for a meeting, which would be the first in nearly a month. source https://www.nytimes.com/2023/09/14/business/hollywood-strike-studios-writers.html

‘One of the Most Hated People in the World’: Sam Bankman-Fried’s 250 Pages of Justifications

The FTX founder wrote hundreds of pages of reflections and self-justifications while under house arrest, shedding light on how he may defend himself at his criminal trial next month. source https://www.nytimes.com/2023/09/14/technology/sam-bankman-fried-ftx-twitter-thread.html

‘One of the Most Hated People in the World’: Sam Bankman-Fried’s 250 Pages of Justifications

The FTX founder wrote hundreds of pages of reflections and self-justifications while under house arrest, shedding light on how he may defend himself at his criminal trial next month. source https://www.nytimes.com/2023/09/14/technology/sam-bankman-fried-writings-during-house-arrest.html

Biden Accuses Republicans of Undercutting Working-Class Americans

President Biden trained his criticism on House Republicans who are threatening to shut down the federal government if their budget cuts are not enacted. source https://www.nytimes.com/2023/09/14/us/politics/biden-republicans-economy.html

Senate Committee Backs Bill to Deepen U.S. Economic Ties With Taiwan

Legislation to end double taxation between Taiwan and the United States is intended to spur semiconductor investment but is likely to rankle U.S. relations with China. source https://www.nytimes.com/2023/09/14/us/politics/senate-committee-taiwan-double-taxation.html

Biden Taps Penny Pritzker to Drive Ukraine’s Economic Revival

The appointment of the former commerce secretary and Democratic Party fund-raiser reflects a growing focus on Ukraine’s postwar economic survival. source https://www.nytimes.com/2023/09/14/us/politics/biden-ukraine-penny-pritzker-economy.html

Tiny Homes Are a Social Media Hit. But Do We Want to Live in Them?

Social media platforms are awash with videos of microapartments and tiny homes, amassing tens of millions of views. But do clicks translate into new occupants? source https://www.nytimes.com/2023/09/14/realestate/tiny-house-apartment-uk-nyc.html

In Antitrust Trial, Former Google Employee Details History of Search Deals

In the first full day of testimony in the U.S. monopoly trial against Google, the Justice Department sought to show that the company had long tried to cut out search competitors. source https://www.nytimes.com/2023/09/13/technology/google-search-antitrust.html

U.A.W. Prepares for Partial Strike Against Detroit Automakers on Friday

The union’s president, Shawn Fain, said negotiators were nowhere near an agreement and ruled out a contract extension while talks continued. source https://www.nytimes.com/2023/09/13/business/uaw-strike-shawn-fain.html

Defying Industry, California Lawmakers Vote for Employer-Paid Food Training

The legislation would require state employers — not workers — to pay for mandatory safety instruction. It awaits the governor’s decision. source https://www.nytimes.com/2023/09/13/business/economy/california-legislature-food-training.html

Birkenstock, German Maker of Iconic Sandals, Files for I.P.O. in New York

By going public on the N.Y.S.E., the brand is seeking to build on its reputation as a family-owned German business equally at home as on the fashion catwalks. source https://www.nytimes.com/2023/09/13/business/birkenstock-ipo-new-york-stock-exchange.html

What to Know About the Potential Autoworkers Strike

U.A.W. workers could strike as soon as Friday. The union and the carmakers remain far apart on wages. source https://www.nytimes.com/2023/09/13/business/uaw-automakers-strike-explained.html

BP’s Chief, Bernard Looney, Resigns Over Relationships

Mr. Looney, a longtime BP employee who was named chief executive in 2020, agreed to step down immediately, the board said. source https://www.nytimes.com/2023/09/12/business/energy-environment/bp-bernard-looney-resign.html

Apple Unveils iPhone 15 With Changes to Its USB-C Charger

European regulators passed a rule requiring USB-C charging across electronic devices, forcing the change in Apple’s newest iPhones. source https://www.nytimes.com/2023/09/12/technology/apple-iphone-15-usb-c.html

Apple Unveils iPhone 15 With Changes to Its USB-C Charger

European regulators passed a rule requiring USB-C charging across electronic devices, forcing the change in Apple’s newest iPhones. source https://www.nytimes.com/2023/09/12/business/apple-iphone-15-usb-c.html

Restaurants Agree to Raise Pay to $20 an Hour in California

The deal will avoid a ballot fight over a law passed last year that could have resulted in higher pay and other changes opposed by restaurant companies and franchisees. source https://www.nytimes.com/2023/09/11/business/economy/california-restaurant-union-deal.html

Arm, a British Chip Designer, Juggles Challenges Before 2023’s Biggest I.P.O.

The SoftBank-owned company, which for decades has defined how mobile phones operate, is grappling with geopolitical and commercial complexities as it prepares to go public this week. source https://www.nytimes.com/2023/09/12/technology/arm-ipo-chips-softbank.html

SoftBank Needs a Hit, and It’s Betting on Arm

Softbank’s chief executive, Masayoshi Son, believes the chip design company he bought in 2016 is poised to reap the fruits of the A.I. revolution. source https://www.nytimes.com/2023/09/12/business/softbank-arm-ipo-chips.html

TikTok Shop Aims to Turn Trendsetting Power Into Sales

The company is beginning to introduce TikTok Shop to all of the app’s users in the U.S., hoping to add a major new revenue stream. source https://www.nytimes.com/2023/09/12/business/tiktok-shop-e-commerce.html

Restaurants and Unions Agree to Raise Pay to $20 an Hour in California

The deal will avoid a ballot fight over a law passed last year that could have resulted in higher pay and other changes opposed by restaurant companies and franchisees. source https://www.nytimes.com/2023/09/11/business/california-restaurant-union-deal.html

Sarah Burton to Leave Alexander McQueen

The British designer and successor to Mr. McQueen will leave the label she has led for 13 years after one last show at Paris Fashion Week. source https://www.nytimes.com/2023/09/11/style/sarah-burton-alexander-mcqueen.html

Federal Court Says Consumer Watchdog Can’t Check Banks for Discrimination

A Texas judge’s sweeping ruling says the Consumer Financial Protection Bureau exceeded its authority in trying to examine banks for uneven treatment. source https://www.nytimes.com/2023/09/11/business/consumer-financial-protection-bureau-banks-discrimination.html

Chinese Warnings on iPhones Tap Deep Strain of Security Concerns

For years, officials in China have been told to shun foreign devices. Now reports of renewed curbs have unnerved Apple’s investors, heightening geopolitical tensions. source https://www.nytimes.com/2023/09/11/business/apple-china-iphones.html

Covid Vaccines May Roll Out Within Days

The F.D.A. is expected to approve a new round of shots by Pfizer and Moderna as early as Monday to prepare Americans for the fall and winter season when infections usually tick upward. source https://www.nytimes.com/2023/09/11/health/covid-vaccines-may-roll-out-within-days.html

Who’s Who in the Google Monopoly Trial

The federal government’s first monopoly trial this century will feature top tech executives, experienced litigators and an Obama-appointed judge. source https://www.nytimes.com/2023/09/11/technology/google-trial-judge-plaintiffs.html

How Child Care in New York City Became Unaffordable for Nearly Everyone

Even upper-middle-class New Yorkers are struggling with the soaring costs of child care. So are the workers they pay. source https://www.nytimes.com/2023/09/11/nyregion/child-care-nyc.html

China May Ban Clothes That Hurt People’s Feelings. People Are Outraged.

A proposal evokes memories of 1980s China, when opening up to the world set off a debate over flared pants and men with long hair, what the party called “weird attire.” source https://www.nytimes.com/2023/09/11/business/china-fashion-proposal-hurt-feelings.html

Walter Isaacson on Elon Musk’s Competing Identities

Walter Isaacson said he wrestled with the competing identities of a brilliant but “mercurial” entrepreneur. source https://www.nytimes.com/2023/09/10/business/dealbook/walter-isaacson-elon-musk-biography.html

Daniel Zhang Steps Down From Alibaba

Daniel Zhang, who had been expected to give up his chief executive and chairman roles this month, is also leaving as head of the company’s cloud division. source https://www.nytimes.com/2023/09/10/business/media/alibaba-daniel-zhang.html

An A.I. Leader Urges Regulation and a Rethink

The entrepreneur Mustafa Suleyman’s new book calls for lawmakers to seize the opportunities and mitigate the potentially catastrophic risks of artificial intelligence. source https://www.nytimes.com/2023/09/10/business/dealbook/an-ai-leader-urges-regulation-and-a-rethink.html

To Test the A.I. Learning Hype, I Visited Classrooms

Some tech proponents say generative artificial intelligence will revolutionize education. Yet, some schools are blocking it. Here was a chance for reporting. source https://www.nytimes.com/2023/09/10/business/ai-learning-classrooms.html

Saudi Arabia Is Pouring Money in Sports. Is Tennis Next?

Despite the popularity of tennis, its business has struggled. source https://www.nytimes.com/2023/09/09/business/dealbook/tennis-business-saudi-arabia.html

Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses

Federal law generally protects retirement savings when a company files for bankruptcy. But that’s not always the case. source https://www.nytimes.com/2023/09/09/your-money/bed-bath-beyond-employees-401k.html

States’ Paid Leave Plans Could Help Protect Caregivers’ Savings

It’s not unusual for people caring for family members to tap their retirement accounts or go into debt to pay bills. Some states are trying to help them avoid that. source https://www.nytimes.com/2023/09/09/business/retirement-paid-leave-caregiving.html

Appeals Court Rules White House Overstepped 1st Amendment on Social Media

A Fifth Circuit panel partly upheld restrictions on the Biden administration’s communications with online platforms about their content. source https://www.nytimes.com/2023/09/08/business/appeals-court-first-amendment-social-media.html

Automakers and U.A.W. Remain Far Apart as Contract Deadline Nears

The United Auto Workers has said it is prepared to strike at General Motors, Ford and Stellantis if a deal is not reached before current contracts end on Thursday. source https://www.nytimes.com/2023/09/08/business/economy/uaw-autos-gm-stellantis-ford.html

Jimmy Fallon Apologizes to Staff After Article on Workplace Environment

The article, which appeared in Rolling Stone, described the set as a “toxic workplace.” source https://www.nytimes.com/2023/09/08/business/media/jimmy-fallon-workplace-tonight-show.html

SpaceX Needs to Make 63 Fixes Before Next Starship Launch, FAA Orders

The agency closed an investigation into what went wrong during an April flight of the massive spacecraft that NASA will rely on to land astronauts on the moon. source https://www.nytimes.com/2023/09/08/science/spacex-starship-faa-launch.html

I.R.S. Deploys Artificial Intelligence to Target Rich Partnerships

The tax agency is opening examinations into large hedge funds, private equity groups, real estate investors and law firms. source https://www.nytimes.com/2023/09/08/us/politics/irs-deploys-artificial-intelligence-to-target-rich-partnerships.html

CAA Deal Sees François-Henri Pinault Shopping for Star Power

The French billionaire François-Henri Pinault’s deal for the talent agency CAA is driven by the belief that fashion increasingly needs celebrities. source https://www.nytimes.com/2023/09/08/business/pinault-caa-deal.html

‘Dumb Money’ Lampoons Wall Street Titans With a Knowing Eye

The film tells the story about the stock market frenzy over the video game retailer GameStop. It was financed and produced by the son of a Wall Street superpower. source https://www.nytimes.com/2023/09/08/business/dumb-money-wall-street-game-stop.html

Australian Workers at Three Energy Plants Halt Work

The labor action at liquefied natural gas plants, responsible for about 6 percent of the world’s supply of the fuel, came as talks over pay and work conditions stalled. source https://www.nytimes.com/2023/09/08/business/energy-environment/chevron-lng-strike.html

2 Senators Propose Bipartisan Framework for A.I. Laws

The effort by Senators Richard Blumenthal and Josh Hawley is the latest move by lawmakers to catch up with the rapidly evolving technology. source https://www.nytimes.com/2023/09/07/technology/artificial-intelligence-framework-senate.html

Spicy Paqui ‘One Chip Challenge’ to Be Pulled From Shelves After Death

A subsidiary of the Hershey Company said it was pulling the extraordinarily spicy chip “out of an abundance of caution” following the death of a teenager whose family said he had died after eating one. source https://www.nytimes.com/2023/09/07/us/paqui-one-chip-challenge-removed.html

Philanthropies Pledge $500 Million to Address Crisis in Local News

The effort, spearheaded by the MacArthur Foundation, will give grants to support newsrooms and start-ups as concern grows over the rapid disappearance of local news outlets. source https://www.nytimes.com/2023/09/07/business/media/macarthur-foundation-grants-to-local-news.html

Apple’s Stock Falls on Reports of a Chinese Government iPhone Ban

Shares in the tech giant fell on Wednesday following reports that Beijing would bar government workers from using the device. source https://www.nytimes.com/2023/09/07/business/iphone-ban-apple-china.html

Bali Elevator Plunges Into Ravine, Killing 5

The five victims of the accident in Bali, an island that drives Indonesia’s tourism economy, were young housekeepers. Only one had a full-time contract. source https://www.nytimes.com/2023/09/07/world/asia/bali-elevator-crash-ubud-ravine.html

China Is Flooding the World With Car Exports

Even as China’s other exports falter, its carmakers are seeing big increases in overseas sales, mainly for gasoline-powered models. source https://www.nytimes.com/2023/09/06/business/china-car-exports.html

China’s Exports Fall for Fourth Straight Month

New data on trade showed continuing declines in both overseas sales and imports, signs of China’s economic struggles. source https://www.nytimes.com/2023/09/06/business/china-exports-august.html

Dependence on Tech Caused ‘Staggering’ Education Inequality, U.N. Agency Says

Heavy reliance on online remote learning during the pandemic drew attention away from more equitable ways of teaching children at home, a UNESCO report says. source https://www.nytimes.com/2023/09/06/technology/unesco-report-remote-learning-inequity.html

UK Air Traffic Control Disruptions Blamed on ‘1 in 15 Million’ Event

Air traffic computer systems shut down after receiving duplicate data, a report found, forcing plans to be processed manually. source https://www.nytimes.com/2023/09/06/world/europe/uk-flights-air-traffic-control-chaos.html

Powered by A.I., Company Aims to Make Selling Easier for Retailers

Lily AI matches online shoppers to the merchandise they’re looking for based on colloquial search terms, a welcome change for companies like Bloomingdale’s. source https://www.nytimes.com/2023/09/06/business/lily-ai-retail-shopping.html

John Lansing, NPR’s CEO, to Retire at Year’s End

John Lansing, who has run the broadcaster for four years, said it was now in the early stages of a national search for his successor. source https://www.nytimes.com/2023/09/05/business/media/npr-ceo-retire-john-lansing.html

Bread, Water and Peanut Butter: Sam Bankman-Fried’s Life in Jail

Mr. Bankman-Fried, founder of the failed cryptocurrency exchange FTX, has protested his conditions at Brooklyn’s Metropolitan Detention Center as he awaits trial on fraud charges. source https://www.nytimes.com/2023/09/05/technology/sam-bankman-fried-jail-peanut-butter-vegan.html

NHTSA Seeks to Recall 52 Million Airbag Inflaters by ARC and Delphi

The action covers airbags made by two companies and used by 12 automakers from 2000 to 2018. The parts were linked to seven injuries and one death. source https://www.nytimes.com/2023/09/05/business/airbag-arc-nhtsa-recall.html

NPR C.E.O. to Retire at Year’s End

John Lansing, who has run the broadcaster for four years, said it was now in the early stages of a national search for his successor. source https://www.nytimes.com/2023/09/05/business/media/npr-ceo-to-retire-at-years-end.html

An Evolving Salt Lake City Hopes to Be ‘Just Like Austin’

Shedding its stodgy image, the city has become a destination for start-ups looking for cheaper space and younger workers on the hunt for roomier housing. source https://www.nytimes.com/2023/09/05/business/salt-lake-city-real-estate-jobs.html

Investors Feel Anxious Despite Falling Odds of a Recession

Some economists are playing down the chances of an economic downturn. But investors and voters aren’t feeling nearly as optimistic. source https://www.nytimes.com/2023/09/05/business/dealbook/markets-falling-recession-odds.html

A $700 Million Bonanza for the Winners of Crypto’s Collapse: Lawyers

Bankruptcy lawyers and other corporate turnaround specialists have reaped major fees from the bankruptcies of five cryptocurrency companies, including FTX. source https://www.nytimes.com/2023/09/05/technology/crypto-collapse-lawyers-turnaround-specialists.html

Allergies and Special Dietary Restrictions Put College Dining Halls to the Test

A surge of students with allergies and special diets is challenging meal services and changing the shape of the campus cafeteria. source https://www.nytimes.com/2023/09/05/dining/college-dining-halls-allergies-restrictions.html

Country Garden, China’s Indebted Developer, Meets Payment Deadline

The embattled Chinese property giant is said to have avoided default by meeting a deadline to pay interest on small loans. But it must repay billions within the next year. source https://www.nytimes.com/2023/09/05/business/china-country-garden-debt.html

Telluride Film Festival Goes On, Despite Anxiety Over Strikes

The festival opened this weekend with fewer stars, who were wary of breaking union rules about promoting films while two strikes have shut down much of Hollywood. source https://www.nytimes.com/2023/09/04/business/media/sag-aftra-strike-telluride.html

Occupational Segregation Drives Persistent Inequality, Study Says

New research points to the limits of education as a path to upward mobility for Black workers. source https://www.nytimes.com/2023/09/04/business/black-workers-education-segregation.html

Facing Threats, U.S. Navy Struggles to Modernize Its Ships

A new generation of cheaper and more flexible vessels could be vital in any conflict with China, but the Navy remains lashed to big shipbuilding programs driven by tradition, political influence and jobs. source https://www.nytimes.com/2023/09/04/us/politics/us-navy-ships.html

In Spain, Illegal Pot Farms Are Being Blamed for Blackouts

Spain’s largest electricity company says daily power outages are caused by indoor marijuana farms that overload the grid. “Easy excuse,” residents reply. source https://www.nytimes.com/2023/09/04/world/europe/spain-blackouts-illegal-marijuana-farms.html

China’s Biggest Homebuilder Fights to Survive as Economic Crisis Deepens

Once considered a survivor of China’s real estate turmoil, Country Garden is now at the center of the crisis and threatens the broader economy. source https://www.nytimes.com/2023/09/04/business/china-country-garden-debt-crisis.html

South African Inquiry Rebuts U.S. Charge on Russian Arms

A government investigation about a Russian ship contradicts U.S. accusations that South Africa provided arms to fight Ukraine, President Cyril Ramaphosa said. But a government report won’t be released, he added. source https://www.nytimes.com/2023/09/03/world/africa/south-african-inquiry-russia-ship.html

85,000 Highchairs Recalled After Reports of Two Dozen Falls

The company that makes the chairs has received reports of falls resulting in nearly a dozen injuries, such as bruises or scratches. source https://www.nytimes.com/2023/09/03/business/highchair-recall-tomy.html

Auto Strike Looms, Threatening to Shut Detroit’s Big 3

With their contract expiring Sept. 14, the United Auto Workers and the companies are far apart in talks. A walkout could take a big economic toll. source https://www.nytimes.com/2023/09/03/business/economy/uaw-autoworkers-strike.html

Judge Vacates Convictions in Bribery Case Over Soccer Broadcast Deals

Hernán López, a former Fox employee, and an Argentine sports marketing company had been convicted of participating in a bribery scheme to secure rights to widely viewed tournaments. source https://www.nytimes.com/2023/09/02/nyregion/fox-employee-soccer-deal-bribes.html

Driverless Taxis Blocked Ambulance and Patient Later Died, San Francisco Fire Dept. Says

Two Cruise taxis delayed an ambulance carrying a car accident victim to a hospital, a department report said. The company said it was not at fault. source https://www.nytimes.com/2023/09/02/technology/driverless-cars-cruise-san-francisco.html

Ah, the Lazy Life

Loafers and idlers, including the heads of the Lazy Butt Club, extol the virtues of the not-so-busy life, even as many big companies start cracking down on return-to-office policies. source https://www.nytimes.com/2023/09/02/style/summer-lazy.html

How Montana’s Attorney General Made Banning TikTok a Top Priority

How one of Montana’s top elected officials made banning the app a top priority, putting the state at the center of a geopolitical storm. source https://www.nytimes.com/2023/09/02/business/media/montana-tiktok-ban.html

U.S. Added 187,000 Jobs in August and Unemployment Rose to 3.8%

Employers added 187,000 jobs in August and unemployment rose to 3.8 percent as the economy continued to lose momentum built up after pandemic lockdowns. source https://www.nytimes.com/2023/09/01/business/economy/jobs-report-august.html

Disney Changes Gears in Suits Against DeSantis and Allies

Disney and Florida Gov. Ron DeSantis, who is running for president, have been sparring for more than a year over a special tax district that encompasses Disney World. source https://www.nytimes.com/2023/09/01/business/disney-desantis-lawsuit.html

August Jobs Report: U.S. Job Growth Remains Steady

The labor market continued to moderate, reflecting efforts by the Federal Reserve to cool the economy. source https://www.nytimes.com/live/2023/09/01/business/jobs-report-august-economy

What May Happen to Mike Bloomberg’s Company After He Leaves

A leadership reshuffle at the financial data giant has rekindled questions about a future sale or a move to take the company public. source https://www.nytimes.com/2023/09/01/business/dealbook/mike-bloomberg-lp-future.html

Fed Officials Will Parse Jobs Numbers to Assess Economy’s Momentum

The employment report could be an important factor as central bankers contemplate the future of interest rate policy. source https://www.nytimes.com/2023/09/01/business/economy/fed-jobs-economy-interest-rates.html

All That Empty Office Space Belongs to Someone

If the nearly 100 million square feet of office real estate stays empty, who loses? source https://www.nytimes.com/2023/09/01/business/office-vacancies-gural-gfp.html