Author: News Room

Instead, the Rutherford leaned heavily on Charlotte Kullen. Her six-hour deposition, taken in September 2022, is difficult to read, in part because it captures her distress and in part because that distress is, legally speaking, beside the point. The judge overseeing the case signaled that she wanted a mediator to help the sides come to a settlement, and on Aug. 16, 2024, the U.S. attorney for the Southern District of New York issued a press release with the result.The Rutherford would have to pay Ms. Lesser a total of $750,000 — $585,000, for the shares in her apartment plus $165,000…

The world economy was already grappling with a perplexing assortment of variables, from geopolitical conflicts and a slowdown in China to the evolving complexities of climate change. Then, President Trump unleashed a plan to uproot decades of trade policy.In starting a process to impose so-called reciprocal tariffs on American trading partners, Mr. Trump increased volatility for international businesses. He broadened the scope of his unfolding trade war.In basic concept, the argument for reciprocal tariffs is straightforward: Whatever levies American companies face in exporting their wares to another country should apply to imports from that same country. Mr. Trump has long…

At the height of the superhero boom a few years ago, Disney pushed its Marvel assembly lines to run faster and faster. After awhile, quality suffered and ticket sales declined.So Disney slowed the pace. Last year, Marvel released one movie (the megasuccessful “Deadpool & Wolverine”) and two Disney+ series. To compare, in 2021 Marvel churned out four movies (with mixed results) and five Disney+ series.Factory problem fixed?Maybe: Marvel’s “Captain America: Brave New World” was a runaway No. 1 at the global box office over the weekend. The movie, which cost at least $300 million to make and market worldwide, was…

President Volodymyr Zelensky of Ukraine, during a closed-door meeting on Wednesday, rejected an offer by the Trump administration to relinquish half of the country’s mineral resources in exchange for U.S. support, according to five people briefed on the proposal or with direct knowledge of the talks.The unusual deal would have granted the United States a 50 percent interest in all of Ukraine’s mineral resources, including graphite, lithium and uranium, as compensation for past and future support in Kyiv’s war effort against Russian invaders, according to two European officials. A Ukrainian official and an energy expert briefed on the proposal said…

Amazon workers voted overwhelmingly against a bid to unionize their North Carolina warehouse, the National Labor Relations Board said on Saturday, the latest setback in labor organizing efforts at the e-commerce giant.Workers at the RDU1 fulfillment center in Garner, outside of Raleigh, voted 2,447 to 829 against unionizing with Carolina Amazonians United for Solidarity and Empowerment, or CAUSE, an upstart union founded by warehouse workers in 2022.Organizers at the warehouse, which employs more than 4,000 people, sought starting wages of $30 an hour. The current pay range is about $18 to $24, Amazon said. The union also demanded longer lunch…

President Trump has long argued that a law barring companies from bribing officials of foreign governments stifles deal-making abroad and puts American companies at a disadvantage.But when he effectively put the Foreign Corrupt Practices Act out of commission this week, the order did not elicit the cheers from corporate America that you might have expected. Lawyers who specialize in corporate corruption cases told DealBook that moves to potentially weaken the law could backfire on multinationals by actually raising the cost of doing business overseas.The F.C.P.A. has ensnared the likes of McKinsey, Petrobras and Goldman Sachs in some of the biggest…

Medicare can cover most of your health care needs when you turn 65, but it doesn’t pay for everything. And one of the most significant financial challenges to watch out for are the out-of-pocket costs you can face aside from monthly premiums — including deductibles and other types of cost sharing.Just how much you’ll pay, and when, depends on the type of Medicare enrollment that you choose: traditional Medicare, which is operated by the government and provides care on a fee-for-service basis, or Medicare Advantage, which is run by private insurance companies and operates on a managed care model.There is…

It is an axiom heard countless times in business school lecture halls and on corporate earnings calls: Uncertainty is bad for business.The U.S. economy is about to test that proposition like never before.The first weeks of the second Trump administration have been a dizzying whirlwind of economic policy moves: A spending freeze was declared, then rescinded. Federal programs, and even entire agencies, have been suspended or shut down. Tariffs have been threatened, announced, canceled, delayed or enacted — sometimes in a matter of days or even hours. Measures of economic policy uncertainty have soared to levels normally associated with recessions…

Some people binge-watched shows during the Covid pandemic. Others picked up pickleball. But according to federal prosecutors, one Las Vegas woman prepared and filed false tax returns for her business and others at a busy average rate of nearly 80 per month.Over a 16-month period beginning in June 2022, the Justice Department said Friday, the woman, Candies Goode-McCoy, filed more than 1,200 returns in order to fraudulently claim Covid-19 tax credits of nearly $100 million.Ms. Goode-McCoy, 34, who pleaded guilty under a plea agreement on Thursday in U.S. District Court in Las Vegas to charges of conspiracy to defraud the…

A Senate committee is investigating whether a prominent cryptocurrency investor violated federal tax law to save hundreds of millions of dollars after he moved to Puerto Rico, a popular offshore tax haven, according to a letter reviewed by The New York Times.Senator Ron Wyden, an Oregon Democrat, sent the letter on Jan. 9 to Dan Morehead, the founder of Pantera Capital, one the largest crypto investment firms.The letter said the Senate Finance Committee was investigating tax compliance by wealthy Americans who had moved to Puerto Rico to take advantage of a special tax break for the island’s residents that can…