Tag: Regulation and Deregulation of Industry

TikTok, Trump and an Impulse to Act as C.E.O. to Corporate America

WASHINGTON — President Trump campaigned on a promise to run the economy like his business empire. And for almost four years, he has unabashedly wielded the power of the presidency to insert himself into corporate affairs, helping some companies and punishing others in line with his instincts and inclinations. The latest target of his attention […]

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‘I Am Scared’: Italian Sex Workers Face Poverty and Illness In the Pandemic

MILAN — When the mayor of Modica, a Sicilian town known for its chocolates and churches, learned that a sex worker in the area had tested positive for the coronavirus, he immediately started to worry about an outbreak. He made a frantic public appeal for clients to get tested, assuring them that their wives wouldn’t […]

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Italy Draws a Line Under Genoa Tragedy, Shunting Aside the Benettons

ROME — Less than two years after the collapse of the Morandi Bridge in Genoa killed 43 people, Italy will draw a line under the tragedy on Monday when it inaugurates a replacement. But that public celebration has been accompanied by a behind-the-scenes deal that will reshape the running of Italy’s highways as it exacts […]

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Grilled by Lawmakers, Big Tech Turns Up the Gaslight

When Mark Zuckerberg appeared in front of Congress two years ago, the Facebook chief executive’s memorable retort to a clueless questioner was “Senator, we run ads.” After Wednesday’s marathon appearance by Mr. Zuckerberg and three other tech titans at a House hearing on competition in the tech industry, a more fitting quote might be “Congresswoman, […]

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‘This Is a New Phase’: Europe Shifts Tactics to Limit Tech’s Power

LONDON — In Brussels, European Union leaders are pursuing a new law that could make it illegal for Amazon and Apple to give their own products preferential treatment over those of rivals that are selling on their online stores. In Britain, officials are drawing up a law to force Facebook to make its services work […]

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One in Three Children Have Unacceptably High Lead Levels, Study Says

Lead contamination has long been recognized as a health hazard, particularly for the young. But a new study asserts that the extent of the problem is far bigger than previously thought, with one in three children worldwide — about 800 million in all — threatened by unacceptably high lead levels in their blood. The ubiquity […]

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E.P.A. Inspector General to Investigate Trump’s Biggest Climate Rollback

WASHINGTON — The Environmental Protection Agency’s internal watchdog said Monday it had opened an investigation into the agency’s weakening of Obama-era regulations that would have limited automobile emissions by significantly raising fuel economy standards. The inspector general demanded that top E.P.A. officials turn over briefing materials and other documents pertaining to the regulation, which was […]

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Slowly, Italy Is Waking From the Coronavirus Nightmare

ROME — Streets are quiet, squares are empty, you can hear the gurgling of the city’s ubiquitous fountains in the daytime. The platoons of Chinese tourists are nowhere to be seen; the American travelers — their hats, their sandals, their holiday shorts — have disappeared. Only a few German families with young children brave the […]

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Don’t Ban TikTok. Make an Example of It.

For a while, it seemed that TikTok might dodge the techlash. After all, what could be problematic about a short-form video app featuring a bunch of teenagers and 20-somethings doing choreographed dances, roller skating, hanging out in influencer mansions and cutting into photorealistic cakes? The answer turns out to be: Plenty. In the past year, […]

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Big Tech Funds a Think Tank Pushing for Fewer Rules. For Big Tech.

HUNTINGTON BEACH, Calif. — A year ago, antitrust officials from Australia, Brazil, China, Japan and eight other countries enjoyed $110-a-plate steak dinners and unlimited pours from $70 bottles of wine at a beachfront hotel surrounded by panoramic views of the sun setting over the Pacific Ocean. The opulent meal was the culmination of a weeklong […]

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A Hedge Fund Bailout Highlights How Regulators Ignored Big Risks

WASHINGTON — As the coronavirus began shuttering the global economy in March, critical parts of U.S. financial markets edged toward collapse. The shock was huge and unexpected, but the vulnerabilities were well known, the legacy of risk-taking outside of regulatory reach. To head off a devastating downward spiral, the Federal Reserve came to Wall Street’s […]

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E.P.A. Proposes Airplane Emission Standards That Airlines Already Meet

WASHINGTON — The Trump administration on Wednesday made public the federal government’s first proposal to control planet-warming pollution from airplanes, but the draft regulation would not push the airlines beyond emissions limits they have set for themselves. President Trump is still pressing forward on his three-and-a-half-year rollback of environmental standards, and the proposed airline rule […]

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Slack Accuses Microsoft of Illegally Crushing Competition

Microsoft is undeniably one of the Big Tech elite, given its size, wealth and stock market value. But the software giant has stood apart from Google, Facebook, Amazon and Apple in one important respect: Microsoft, once the bully of the tech world, has escaped antitrust scrutiny so far. Now Slack Technologies, whose popular chat and […]

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Froth Returns to China’s Stock Market, Echoing the 2015 Crisis

HONG KONG — When Beijing signaled this month that it was time to buy China, investors did not hesitate. But it did not take long for some to get cold feet as officials warned that the market was overheating. In the first four days of trading in July, investors from outside China poured a record […]

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Climate Change Poses ‘Systemic Threat’ to the Economy, Big Investors Warn

WASHINGTON — Climate change threatens to create turmoil in the financial markets, and the Federal Reserve and other regulators must act to avoid an economic disaster, according to a letter sent on Tuesday by a group of large investors. “The climate crisis poses a systemic threat to financial markets and the real economy, with significant […]

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New Emails Show How Energy Industry Moved Fast to Undo Curbs

WASHINGTON — Not long after President Trump’s inauguration, the head of a fossil fuels industry group requested a call with the president’s transition team. The subject: Barack Obama’s requirement that oil and gas companies begin collecting data on their releases of methane. That outreach, by Kathleen Sgamma, president of the Western Energy Alliance, appeared to […]

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Democrats Eye Trump’s Game Plan to Reverse Late Rule Changes

WASHINGTON — At the dawn of the Trump era, Republicans in the White House and Congress turned an old law into a potent new weapon. An obscure 1996 statute was harnessed to wipe out 14 Obama-era regulations in 16 weeks, before President Trump set out to enact the most significant deregulatory agenda in the modern […]

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Financial Brokers Must Now Act in Your ‘Best Interest.’ What Does That Mean?

The next time you shop around for financial advice, more investment professionals will be able to assure you that they’re acting in your “best interest.” But what’s really in your best interest is understanding precisely what that means. A Securities and Exchange Commission rule that took effect on June 30 created a new standard for […]

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Apple Scores Legal Victory Against $14.9 Billion E.U. Tax Demand

LONDON — Apple won a major legal victory on Wednesday against European antitrust regulators as a European court overruled a 2016 decision that ordered the company to pay $14.9 billion in unpaid taxes to Ireland. The decision, which can be appealed to the European Union’s top court, is a setback for the region’s efforts to […]

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Trump to Weaken Environmental Rules to Speed Infrastructure Permits

WASHINGTON — President Trump on Wednesday is set to unilaterally weaken one of the nation’s bedrock conservation laws, the National Environmental Protection Act, limiting public review of federal infrastructure projects to speed up the permitting of freeways, power plants and pipelines. In doing so, the Trump administration will claim hundreds of millions of dollars of […]

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G.A.O.: Trump Boosts Deregulation by Undervaluing Cost of Climate Change

WASHINGTON — A federal report expected to be released Tuesday found the Trump administration set a rock-bottom price on the damages done by greenhouse gas emissions, enabling the government to justify the costs of repealing or weakening dozens of climate change regulations. The report by the Government Accountability Office, Congress’s nonpartisan investigative arm, said the […]

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These Are the Deutsche Bank Executives Responsible for Serving Jeffrey Epstein

Jeffrey Epstein, the sex criminal and financier, didn’t act alone. Now we know in vivid detail who some of his financial enablers were: executives and bankers at Deutsche Bank. Last week the New York Department of Financial Services laid bare at least some of the financial underpinnings of Mr. Epstein’s sophisticated enterprise. Deutsche Bank agreed […]

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How May Google Fight an Antitrust Case? Look at This Little-Noticed Paper

WASHINGTON — Google has largely stayed quiet about its conversations with federal investigators as the Justice Department has looked into whether the company abused its dominance of the online advertising market. But a little-noticed 67-page document sent to Australian regulators in May by Google’s advisers may provide clues to how the Silicon Valley titan intends […]

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