Author: News Room

Forever 21’s operator in the United States filed for bankruptcy on Sunday, as the apparel company, which helped popularize fast fashion in the United States, struggles to compete with online retailers.F21 OpCo, the operator, as well as some U.S. subsidiaries, filed for Chapter 11 bankruptcy in the Bankruptcy Court of Delaware, court documents show. The company listed its estimated assets as between $100 million and $500 million, and liabilities of $1 billion to $5 billion. The company also filed for bankruptcy in 2019.Forever 21 found success in the early 2000s selling cheaply produced fashion that appealed to young women seeking…

For more than 80 years, Voice of America transmitted the news into countries, many of them authoritarian, where reliable sources of information about the outside world were often hard to come by.Now those broadcasts — long viewed as an important part of U.S. efforts to promote democracy and transparency overseas — are flickering out.Hours after President Trump signed an executive order on Friday calling for the dismantling of the federal agency that oversees Voice of America, hundreds of journalists, executives and other employees at the organization’s headquarters in Washington were informed that they were being put on paid leave. Employees…

The Chinese government and the Communist Party jointly issued a lengthy list of planned initiatives on Sunday to get people to spend more, in yet another move by Beijing to offset potential harm from its escalating economic warfare with Washington.The road map for economic stimulus included larger pensions, better medical benefits and higher wages — measures that could bolster China’s lagging domestic consumption. But it assigned many of these tasks to the country’s local governments, many of which are struggling under enormous debts and plummeting revenues from the sale of state land.The action comes as China’s leaders are searching for…

After the dot-com bubble burst in the early 2000s, Lars Staack decided to play it safe and invest his retirement savings in S&P 500 index funds, which are diversified and carry lower risk than owning individual stocks.It was a strategy that brought him peace of mind for more than two decades — until President Trump was elected in November. As he reviewed Mr. Trump’s comments in support of sweeping tariffs, Mr. Staack, 62, who retired two years ago, became increasingly uneasy about the savings he planned to use for the rest of his retirement.Those nerves about how Mr. Trump’s economic…

After climbing into a Tesla Model S last week, President Trump pledged to buy one. The next day, the Fox News host Sean Hannity said he had bought a Model S Plaid to support the embattled company, saying a Tesla “has more American parts in it than any other car made in our country.”In a backlash to the backlash against the tactics of Elon Musk’s Department of Government Efficiency, prominent conservatives are rallying to the side of the electric car company led by Mr. Musk. They are hoping to swing enough like-minded consumers to offset a boycott of the electric…

President Trump has promised to create an age of American exceptionalism with policies that put the United States first, and ahead of other nations.But Mr. Trump’s moves in the early days of his administration have had the opposite outcome for the American stock market.The S&P 500, which for years had been soaring above the stock indexes of other countries, is now trailing major markets in Europe and China, as investors have started to pull money from the United States and reallocate it around the world.Since Mr. Trump’s inauguration, the S&P 500 has fallen 6 percent, while the Dax index in…

Junior Bridgeman, who followed a strong N.B.A. career with a remarkable run as an entrepreneur, acquiring hundreds of fast-food restaurants, a Coca-Cola bottling business and a minority stake in the Milwaukee Bucks, his team for a decade, died on Tuesday in Louisville, Ky. He was 71.The cause was a cardiac event, a family spokesman said. Mr. Bridgeman had been talking to a reporter for a local television station during a charity event at the Galt House Hotel when he said he felt that he was having a heart attack, the spokesman said, and he was taken to a hospital, where…

French Champagne producers do nearly a billion dollars’ worth of business with the United States every year. But on Friday in Épernay, the world capital of sparkling wine, the only number on anybody’s lips was 200.That was the percent tariff that President Trump has threatened to impose on Champagne and other European wines and spirits exported to the United States, in a trade war that exploded this past week after the European Union countered Mr. Trump’s penalties on steel and aluminum with its own duties on American products.The triple-digit menace landed like a thunderbolt in Épernay, rattling workers in nearby…

As a young pastry cook at Eleven Madison Park, Genie Kwon grew accustomed to a kitchen tradition: Every time the chef shouted out an order, the other cooks responded in unison, “Oui, chef!”Or as you may have heard it on the FX show “The Bear”: “Yes, chef!”For a long time, Ms. Kwon, who co-owns the Filipino restaurant Kasama in Chicago, associated the phrase with the unyielding hierarchy of the kitchen at Eleven Madison Park, known for its exacting vision of fine dining.How it’s pronounced/yĕs shĕf/That was until a few years ago, when she started hearing friends outside the industry using…

The hottest play on Broadway was written more than 400 years ago. Demand to see Denzel Washington and Jake Gyllenhaal face off in Shakespeare’s “Othello” is so strong that many center orchestra seats are selling for $921, helping the show break box office records.During its first week of previews, its average ticket price was $361.90, more than double that at the next highest-average-price show (“The Outsiders,” at $155.02). And last week “Othello” grossed $2.8 million, more than any nonmusical has ever made in a single week on Broadway.The huge numbers, for a show that has not yet been reviewed and…