Author: News Room
The law firm Jenner & Block sued the Trump administration on Friday, seeking to stop an executive order leveled against the firm this week that could cripple its ability to represent clients.The suit is the second time that a law firm targeted by President Trump has decided to fight back in court and will open a new front in the month-old battle Mr. Trump has waged on law firms.“Today, Jenner & Block filed a lawsuit to stop an unconstitutional executive order that has already been declared unlawful by a federal court. We expect to prevail quickly,” the law firm said…
The canary in the coal mineCoreWeave just pulled off the first big initial public offering this year — and the results were far from heartening.The company, which rents computing power to the artificial intelligence industry, shrank its I.P.O. far below initial expectations before Friday’s anticipated trading debut. That’s even after Nvidia, which owns a stake in the company, committed to buy more shares as part of the offering.The big question is whether CoreWeave’s troubles speak to only one company — or to broader economic conditions, which would portend trouble for the embattled I.P.O. landscape as a whole.How far short did…
At a backyard barbecue in San Pedro, Argentina, last May, Rafael Flaiman spotted a friend wearing a light blue blazer that looked a little too snazzy for the occasion. He needled the guy a bit. What’s with the jacket? Mr. Flaiman asked.“La China pays,” the friend replied, with a triumphant smile.La China? Mr. Flaiman grew up in San Pedro, a struggling riverside town of 70,000, and for 16 years he’s been a reporter at La Opinión, the local newspaper. But he’d never heard of someone named La China — Spanish for the Chinese woman — and had no idea why…
Years before President Trump returned to the White House, his budget chief, Russell T. Vought, began mapping out a plan to shrink the federal government.In Mr. Vought’s design, spending would be slashed by about $9 trillion over the next decade. Entire federal programs — from housing vouchers to student loans — would be eliminated. The government would fire thousands of civil workers, including those who investigated tax fraud. And Washington would restrict aid to the poor, requiring Americans to work in exchange for benefits.The ideas formed the bedrock of Mr. Vought’s plan to end the “woke and weaponized” bureaucracy, a…
Automakers can respond to President Trump’s new 25 percent tariffs on imported cars and parts in several ways. But all of them cost money and will lead to higher car prices, analysts say.Manufacturers can try to move production from countries like Mexico to the United States. They can try to increase the number of cars they already make here. They can stop selling imported models, especially ones that are less profitable.But whatever carmakers decide, car buyers can expect to pay more for new and used vehicles. Estimates vary widely and depend on the model, but the increase could range from…
The Sundance Film Festival is venturing to a new ski town.After a year of deliberations, copious site visits and scores of plane rides, the board of the Sundance Institute has chosen Boulder, Colo., to host its film festival beginning January 2027.“Boulder is a tech town, a college town, it’s a really creative town,” Eugene Hernandez, the festival’s director, said. “It’s just a really creative place. And that integration of the artsy community with the university side of it all is really dynamic.”It’s also 10 times the size of Park City, Utah, where the festival has been held since the actor…
Xi Jinping, China’s top leader, met with executives of Saudi Aramco, BMW, Toyota Motor, FedEx and dozens of other foreign companies at the Great Hall of the People in Beijing on Friday as China seeks to boost foreign investment amid worsening trade relations between China and the United States.It was the third time that Mr. Xi has met with executives of multinationals in the past 17 months, courting investment as sluggish growth and tightening national security laws have made global companies wary of making big bets in China.Fresh foreign investment in China has dropped substantially over the past several years.…
In December 1967, when he arrived at a snowy farm on China’s northeastern border with the Soviet Union, Xu Chenggang carried with him an electron tube to help him assemble a radio.Mr. Xu, a 17-year-old Beijing native, would spend the next 10 years there, living in a horse stable and subjected to re-education and persecution for his anti-revolutionary thinking. One thing that got him through the cold, dark decade was the tube radio that brought him Voice of America programs.He learned about the Prague Spring, the Watergate scandal and President Richard Nixon’s resignation, as well as criticisms of Chairman Mao…
The restaurant that Tesla is building in Los Angeles — an old-fashioned drive-in retooled for the electric-car era — now has a chef, according to a post on X by an account that shares Tesla news.“The diner will feature a ‘1950s retro charm, dazzling neon lights, the unmistakable scent of freshly grilled burgers & hand-spun milkshakes,’” said the post, written by Sawyer Merritt on Wednesday night. It reported that the menu will be in the hands of the chef Eric Greenspan, a Los Angeles entrepreneur who has a virtual-restaurant company and a boutique brand of American cheese.“It will be cool,”…
The long-running battle over whether to allow Pacific Ocean seabed mining took an unexpected turn Thursday when a company disclosed it had been confidentially negotiating a plan with the Trump administration to circumvent a United Nations treaty and perhaps obtain authorization from the United States to start mining in international waters.The proposal, which drew immediate protests from environmental groups and diplomats from some countries, represents a radical shift in the contentious debate over accessing deposits on the sea floor that contain copper, cobalt, manganese and other metals that are needed for electric-car batteries.The International Seabed Authority, established 30 years ago…