Economy

Related media - Connected media “While we should act together and in a considered way, I believe there is a strong international law, economic, and moral case for moving forward,” Ms. Yellen said. But Mr. LeMaire, who spoke just a few hours ahead of a private meeting with Ms. Yellen, pushed back on that assertion. “We don’t have the legal basis to seize the Russian assets and we should never act if we don’t obey by the international law and by the rule of law,” Mr. Le Maire said, according to a recording of his remarks. Western officials have been…

Related media - Related media WilmerHale, a prominent U.S. law firm, is close to wrapping up a detailed review of OpenAI’s chief executive, Sam Altman, and his ouster from the artificial intelligence start-up late last year, two people with knowledge of the proceedings said. The investigation, when complete, could give insight into what went on behind the scenes with Mr. Altman and OpenAI’s former board of directors, which fired him on Nov. 17 before reinstating him five days later. OpenAI, which is valued at more than $80 billion, has led a frenzy over A.I. and could help determine the direction…

Connected media - Connected media When Ye and Ty Dolla Sign asked last month for permission to sample Donna Summer’s 1977 song “I Feel Love,” the disco singer’s estate firmly told them no. Yet when their joint LP, “Vultures 1,” was released weeks ago, a song with strong similarities to Summer’s famous tune was there on the track list. A copyright infringement lawsuit detailing that timeline was filed against Ye, the rapper once known as Kanye West, and Ty Dolla Sign on Tuesday by Summer’s husband and executor, Bruce Sudano. Summer, known as the “Queen of Disco,” had three consecutive…

Connected media - Linked media The Biden administration announced on Thursday that it was proposing new regulations for how airlines must treat passengers in wheelchairs, an effort aimed at improving air travel for people with disabilities. Under the proposed rule, damaging or delaying the return of a wheelchair would be an automatic violation of an existing federal law that bars airlines from discriminating against people with disabilities. The Transportation Department said that change would make it easier for the agency to penalize airlines for mishandling wheelchairs. The proposed regulations would also require more robust training for workers who physically assist…

Associated media - Related media The Treasury Department has already proposed rules meant to limit China’s ability to supply materials for cars and trucks that qualify for a $7,500 electric vehicle tax credit included in Mr. Biden’s signature climate bill. The Commerce Department investigation announced on Thursday grew from a series of conversations that administration officials had with automakers last fall, after the settlement of a United Automobile Workers strike during which Mr. Biden stood with the union and joined a picket line. The carmakers told administration officials about the restrictions they faced selling in China, including on software. Biden…

Linked media - Related media Cutbacks were just announced at Law360, The Intercept and the youth-oriented video site NowThis, which laid off half its staff. The tech news site Engadget, which comprehensively tracks tech layoffs, laid off its top editors and other staff members. Condé Nast and Time are shedding employees. The continued existence of Vice Media, once valued at $5.7 billion, and Sports Illustrated, in another era the most influential sports publication, is uncertain. The Los Angeles Times and The Washington Post eliminated hundreds of journalists between them. One out of four newspapers that existed in 2005 no longer…

Linked media - Connected media More than 50 Chinese property developers have defaulted on debts since 2021. They have refused to repay overseas creditors while still making arrangements with Chinese banks for possible eventual repayment. Many of these developers have shares listed on the Hong Kong stock market or have borrowed there, or both. But creditors face formidable obstacles in seeking to recover loans from Chinese real estate developers through petitions to the court system in Hong Kong, said Zerlina Zeng, the head of East Asia corporate credits at CreditSights, a global credit research firm. Most of the assets of…

Associated media - Related media Since Hamas’s brutal Oct. 7 attack on Israel, the Israeli government has been withholding tax revenues that it collects on behalf of Palestinians. Traditionally, that money has been distributed back to the Palestinian Authority, which used it to fund its operating budget. Israel has previously frozen and then released that tax revenue during periods of conflict with the Palestinians. The White House national security communications adviser, John Kirby, said last month that President Biden had discussed with Mr. Netanyahu the need to ensure that the tax revenues were available to pay salaries for Palestinian security…

Associated media - Related media “The products are being recalled due to lack of sterility assurance at the facility noted during an inspection conducted by the Food and Drug Administration,” the announcement said. It added that, as of Feb. 16, the company had not received any reports of adverse reactions related to these products. The products are intended to be sterile, the administrator said, because drugs applied to the eyes bypass some of the body’s natural defense systems. Other eye products have been recalled in recent months. In October, the F.D.A. advised consumers to stop using more than two dozen…