Author: News Room

President Trump has ordered federal agencies to abandon the use of a longstanding legal tool used to root out discrimination against minorities, a move that could defang the nation’s bedrock civil rights law.In an expansive executive order, Mr. Trump directed the federal government to curtail the use of “disparate-impact liability,” a core tenet used for decades to enforce the Civil Rights Act of 1964 by determining whether policies disproportionately disadvantage certain groups.The little-noticed order, issued last month with a spate of others targeting equity policies, was the latest effort in Mr. Trump’s aggressive push to purge the consideration of diversity,…

At least 44 of the government contracts canceled on the orders of Elon Musk’s cost-cutting initiative have been resurrected by federal agencies, wiping out more than $220 million of his group’s purported savings, according to a New York Times analysis of federal spending data.But Mr. Musk’s group continues to list 43 of those contracts as “terminations” on its website, which it calls the “Wall of Receipts.” The group even added some of them days or weeks after they had been resurrected. The result was another in a series of data errors on the website that made the group seem more…

President Trump on Friday suggested that he was open to sharply reducing the tariffs that the United States has imposed on China, as American and Chinese negotiators prepare to meet in Switzerland this weekend for high-stakes trade talks.Trade tensions between the U.S. and China have roiled international markets and the global economy. The negotiations on Saturday and Sunday are intended to de-escalate the situation and set the stage for a broader trade pact between the two economic superpowers.In a post on social media, Mr. Trump said that an 80 percent tariff on China “seems right,” adding that it would be…

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…