Author: News Room

Japanese tech giant Panasonic is planning to pare troubled business lines and its work force by thousands as it aims to reorient itself for a technological era no longer dominated by its traditional electronics.In a statement on Friday, Panasonic said that it would cut about 10,000 jobs globally, or about 4 percent of employees, primarily within the fiscal year that started in April. The cuts include 5,000 jobs in Japan and 5,000 overseas. As part of its effort to bolster profitability, the company said it would “promote the termination of loss-making businesses with no prospect of improving profit.”Founded in Osaka…

Have you found yourself dabbling with the idea of spending your next vacation at the White Lotus, a luxury resort famous for its obnoxious guests and regular murders?Welcome to the world of “set-jetting,” in which the settings of popular movies and TVs shows like “The White Lotus” become pilgrimage sites for fans.The White Lotus resorts are, of course, fictional. But the Four Seasons properties where the HBO series films are real. And after Seasons 1 and 2, which were set in Maui and Sicily, travelers flocked to those properties, and both reported a tenfold increase in bookings, according to Marc…

At a pharmaceutical factory in Chengdu, China, an order that Thomas Leung placed from Manhattan in January is sitting on hold.The shipment includes a variety of concentrated herbal granules used in traditional Chinese medicine. There’s dang gui, also known as angelica root, which is used to treat gynecological ailments; chai hu, or bupleurum root, an herb that is often used to calm nerves; and huang qi, or astragalus root, a tonic herb that promotes immune strength.It is not clear when the shipment will land at Kamwo Meridian Herbs, a New York City staple for more than half a century that…

Chinese government data released on Friday offered a peek into how the trade war is already reordering the flow of goods around the world.Exports from China jumped last month, driven by trade to other countries in Southeast Asia, even as President Trump’s tariffs on Chinese goods forced a sharp slowdown in shipments to the United States.Inside China, imports fell as demand continued to weaken.The trade numbers released on Friday capture activity in April, when tensions between the United States and China escalated more rapidly than expected. In a series of measures, President Trump raised tariffs on Chinese goods to 145…

In the sprawling flatlands of Denmark’s Jutland peninsula, near the small town of Give, a family-owned company called Welcon has been gearing up to build giant, cylindrical wind turbine towers for a multibillion-dollar project.The project, a wind farm called Empire Wind, is being built by the Norwegian energy giant Equinor in the waters off Long Island, N.Y. But those plans were thrown into disarray last month when the Trump administration, which is skeptical about offshore wind power, ordered an indefinite halt to construction.The pause shocked Carsten Pedersen, who owns Welcon with his brother Jens, and the wind industry.“It’s, in my…

Beneath the grand chandeliers of the International Ballroom at the Beverly Hilton Hotel, at rooftop bars and at private parties at billionaires’ mansions, there was a mix of emotions among the financial titans gathered in Los Angeles this week.Many of the thousands of attendees at the Milken Institute Global Conference — a who’s who of finance and corporate America — remained anxious amid volatile markets, continuing trade tensions and deep cuts to the federal government.“I’m a C.E.O., I talk to a lot of C.E.O.s, and there is nervousness there,” Kamal Bhatia, president and chief executive of Principal Asset Management, said…

1 291. As a consequence of the conduct by BAM LLC (in consultation and collaboration 2 with BAM and BN), Raffaelli has suffered and will suffer harm, including lost past and future 3 wages, bonuses, LTIP awards (including “carried interest”), retirement and other benefits, and 4 additional amounts of money Raffaelli would have received had he not been wrongfully 5 terminated. As a result of such wrongful termination and its consequences, Raffaelli has suffered 6 additional economic harm and damages, to be stated according to proof at trial. 7 292. The…

Kenneth Walker, an Emmy Award-winning journalist whose reporting for the ABC News program “Nightline” helped bring the brutality of South Africa’s racist apartheid system to the attention of the American public, propelling it onto the agenda of U.S. policymakers, died on April 11 in Washington. He was 73.His cousin and executor, Jeff Brown, said his death, in a hospital, was caused by a heart attack. It was not widely reported at the time.Mr. Walker’s weeklong coverage of South Africa’s often brutal policy of racial segregation — produced for “Nightline” with Ted Koppel, the program’s anchor, and a team of reporters…

A prominent Silicon Valley investor is in a bitter dispute with his former employer, one of the world’s largest asset managers, accusing it of fraud and attempted bribery.In a lawsuit filed on Thursday in California, Josh Raffaelli, who until late last year was a fund manager at Brookfield Asset Management, said the company had mistreated investors in his funds as it sought to make up for losses in other parts of its business.The 100-page complaint is notable in part because Mr. Raffaelli has close ties to Elon Musk, the world’s richest man. That relationship enabled Mr. Raffaelli’s funds to put…

President Trump announced on Thursday that the United States intended to sign a trade deal with Britain that would bring the two nations closer and roll back some of the punishing tariffs he issued on that country’s products.Both sides consider a trade pact deeply beneficial, and a deal has been under discussion since Mr. Trump’s first term. But the announcement on Thursday was still short on details, reflecting the haste of the Trump administration’s efforts to negotiate with more than dozen nations and rework the global trading system in a matter of months.The agreement, which Mr. Trump said would be…