NYT > Business

    Sears Won’t Close Yet as Its Chairman, Edward Lampert, Fends Off Creditors

    Sears Won’t Close Yet as Its Chairman, Edward Lampert, Fends Off Creditors


    A closed Sears store in Mentor, Ohio. If a deal to save the company is approved by a judge, Sears will emerge from bankruptcy with less debt but it will still face steep odds in winning back...

    Mr. Lampert, a hedge fund manager, was the only bidder in a closed-door auction this week who sought to keep Sears operating as a “going concern.”

    Veterans of the News Business Are Now Fighting Fakes


    After raising $6 million, the start-up NewsGuard, co-founded by Steve Brill, has signed Microsoft as its first major client. The main goal: to combat the spread of false stories on the...

    After raising $6 million, the start-up NewsGuard, co-founded by Steve Brill, has signed Microsoft as its first major client. The main goal: to combat the spread of false stories on the internet.
    Commuter Knits a ‘Rail Delay Scarf.’ It Fetches $8,650 on eBay.

    Commuter Knits a ‘Rail Delay Scarf.’ It Fetches $8,650 on eBay.


    A section of the scarf that Claudia Weber knitted to record her train trips last year. Gray is within five minutes of timetable, pink within half an hour; red means a severe...

    Claudia Weber, 55, takes the train into Munich, Germany, each day, and turned her frustrations with a year of spotty service into a four-foot striped scarf.
    Square Feet: The Next Frontier in Office Space? The Outdoors

    Square Feet: The Next Frontier in Office Space? The Outdoors


    Hines’s 609 Main, a 48-story office tower in downtown Houston, has landscaped outdoor space off the 12th...

    To lure workers, developers and owners of office buildings in dense urban areas are adding terraces and transforming once-barren rooftops into parklike settings.

    Carlos Ghosn, Former Nissan Chairman, Is Denied Bail in Japan


    Mr. Ghosn, detained since November on allegations of financial misconduct, now faces months of additional jail time as his case heads to...

    Mr. Ghosn, detained since November on allegations of financial misconduct, now faces months of additional jail time as his case heads to court.
    White House Considering Indra Nooyi to Head World Bank

    White House Considering Indra Nooyi to Head World Bank


    Indra K. Nooyi, the former chief executive officer of PepsiCo, is among those being considered to head the World...

    The former PepsiCo chief executive has been courted by Ivanka Trump, who is helping lead the search for a new World Bank president.
    Sacklers Directed Efforts to Mislead Public About OxyContin, New Documents Indicate

    Sacklers Directed Efforts to Mislead Public About OxyContin, New Documents Indicate


    Purdue Pharma’s headquarters in Stamford, Conn. The Sacklers, who own Purdue Pharma, became one of the wealthiest families in the United States in part because of sales of...

    A filing in a Massachusetts lawsuit contains dozens of internal Purdue Pharma documents suggesting the family was far more involved than the company has long contended.

    Slow Gains for Women and Minorities on Boards of Big U.S. Firms, Study Says


    The percentage of minorities and women serving as directors of America’s largest public companies has risen since 2016, but white men still dominate, the Alliance for Board Diversity...

    The percentage of minorities and women serving as directors of America’s largest public companies has risen since 2016, but white men still dominate, the Alliance for Board Diversity found.
    Expecting a Huge Payout, Investment Banker Loses His New Job Instead

    Expecting a Huge Payout, Investment Banker Loses His New Job Instead


    Banco Santander said on Tuesday that it would no longer hire Andrea Orcel as its chief executive after it refused to pay him more than $50 million in deferred compensation he was owed by his previous employer,...

    Andrea Orcel, Europe’s most famous investment banker, was poised to become the new chief executive of Santander. But the bank refused to pay him compensation earned at his previous post.
    Goodbye, New York. Adam Moss Is Leaving the Magazine He Has Edited for 15 Years.

    Goodbye, New York. Adam Moss Is Leaving the Magazine He Has Edited for 15 Years.


    “I just want to do something new,” Adam Moss, 61, said. He worked at The New York Times, 7 Days and Esquire before settling in at New York, which he plans to leave in...

    At 61, an editor known for his obsessive style steps away from a publication that told New Yorkers where to eat and what to think. “I don’t wake up obsessed every morning, and I used to,” he said.
    ‘He’s the Best, He’s the Best, He’s the Best’

    ‘He’s the Best, He’s the Best, He’s the Best’


    Writers and editors talk about Adam Moss, the editor of New York magazine, who announced on Tuesday that he is stepping down after leading the publication for 15...

    Writers and editors talk about Adam Moss, the editor of New York magazine, who announced on Tuesday that he is stepping down after leading the publication for 15 years.

    U.S. Charges 2 With Hacking Into S.E.C. System in Stock-Trading Scheme


    Federal prosecutors in New Jersey said the men had breached a Securities and Exchange Commission database to obtain information about companies that was not yet...

    Federal prosecutors in New Jersey said the men had breached a Securities and Exchange Commission database to obtain information about companies that was not yet public.
    Ford and VW Team Up, With Talk of Driverless and Electric Cars

    Ford and VW Team Up, With Talk of Driverless and Electric Cars


    Ford Rangers at an auto show in Los Angeles in November. As part of an alliance, Ford will make a compact pickup, based on the Ranger, that it and Volkswagen may sell under their own names in South America, Africa and...

    The automakers will develop and build pickup trucks and vans for various markets while pursuing wider cooperation on advanced technologies.

    In the Bond Market, the Economy Is Still Something to Worry About


    The volatility that defined stocks late last year has receded, but the concerns of bond investors can be seen in the narrowing of the so-called yield...

    The volatility that defined stocks late last year has receded, but the concerns of bond investors can be seen in the narrowing of the so-called yield curve.
    The Race to Create the Coolest Smart Home Devices Is Hotter Than Ever

    The Race to Create the Coolest Smart Home Devices Is Hotter Than Ever


    Chris Petrock at home in Norwalk, Conn., where he adjusted the settings of his kitchen’s smart devices via his...

    When refrigerators can order food, washers and dryers can supply your detergent and robots can give you a massage — how much better can life be?
    Netflix Is Raising Prices. Here’s Why.

    Netflix Is Raising Prices. Here’s Why.


    Yalitza Aparicio as Cleo and Daniela Demesa as Sofi in “Roma,” written and directed by Alfonso Cuarón and produced by...

    The company said it would increase rates for its 58 million subscribers in the United States 13 to 18 percent, its biggest increase since it started its streaming service 12 years ago.
    Huawei’s Reclusive Founder Rejects Spying and Praises Trump

    Huawei’s Reclusive Founder Rejects Spying and Praises Trump


    Ren Zhengfei, the 74-year-old founder and chief executive of Huawei, speaking to a group of reporters on Tuesday. “I will never do anything to harm any country in the world,” he...

    Ren Zhengfei, C.E.O. of the Chinese tech giant, said he would wait to see if President Trump intervened in the case of his daughter, who is accused of fraud.

    Gillette Ad With a #MeToo Edge Attracts Support and Outrage


    Rewriting its slogan as “Is this the best a man can get?”, the razor brand presented examples of toxic masculinity, earning itself both celebrity praise and calls for a...

    Rewriting its slogan as “Is this the best a man can get?”, the razor brand presented examples of toxic masculinity, earning itself both celebrity praise and calls for a boycott.
    Alan R. Pearlman, Synthesizer Pioneer, Dies at 93

    Alan R. Pearlman, Synthesizer Pioneer, Dies at 93


    Alan R. Pearlman with an ARP 2600 synthesizer in 2013. He founded ARP Instruments in 1969, and within a few years it became the leading synthesizer...

    Mr. Pearlman’s ARP synthesizers were once ubiquitous in pop and electronic music. By the mid-1970s, they commanded 40 percent of the market.
    In Portland, Scooter Start-Ups Played Nice. Regulators Took Note.

    In Portland, Scooter Start-Ups Played Nice. Regulators Took Note.


    Lime was one of three electric-scooter start-ups that participated in a pilot project in Portland, Ore. Over the four-month program, Portlanders took 700,369 scooter...

    Three companies agreed to a pilot program with city. The results showed environmental benefits but left unanswered what tight controls mean for profits.
    Passenger Took Loaded Gun by Accident on Delta Flight to Tokyo, T.S.A. Says

    Passenger Took Loaded Gun by Accident on Delta Flight to Tokyo, T.S.A. Says


    A Transportation Security Administration agent at Hartsfield-Jackson International Airport in Atlanta this month. On Jan. 2, a passenger took a loaded gun through a checkpoint at the airport and on a Delta Air Lines flight to Japan, the T.S.A....

    The passenger carried the gun through a security checkpoint in Atlanta on Jan. 2, but T.S.A. officials said the government shutdown did not play a role in the security breach.
    Lester Wunderman, Father of Direct Marketing, Dies at 98

    Lester Wunderman, Father of Direct Marketing, Dies at 98


    Lester Wunderman, left, reviewed graphics production at his Madison Avenue agency in 1978. Long before anyone had ever heard of internet sales or interactive communications, Mr. Wunderman was pioneering direct...

    He was even credited with coining the term as a co-founder of the world’s largest direct-marketing ad agency, long before there were internet cookies.
    PG&E Bankruptcy Tests Who Will Pay for California Wildfires

    PG&E Bankruptcy Tests Who Will Pay for California Wildfires


    Pacific Gas and Electric workers in Paradise, Calif., on Monday. The company, facing billions of dollars in liability claims from two years of wildfires, sees bankruptcy protection as “the only viable...

    The utility faces $30 billion in potential liability over deadly fires linked to its equipment. Critics say it is pressuring the state to shield it.
    Executive Shuffle at NBC Hints at C.E.O. Succession

    Executive Shuffle at NBC Hints at C.E.O. Succession


    NBCUniversal announced on Monday that it planned to make an advertising-supported streaming service available in...

    Stephen B. Burke, the chief executive of NBCUniversal, put Jeff Shell in charge of the company’s Hollywood operations, while Mark Lazarus will oversee its TV assets.
    How Fiat Chrysler Sped From Laggard to Leader in Detroit

    How Fiat Chrysler Sped From Laggard to Leader in Detroit


    “We went from survival mode in 2009 to a level of stability with a balance sheet and resources that we have never enjoyed in the past,” Mike Manley, chief executive of Fiat Chrysler, told reporters on Monday at the North American International Auto...

    The company’s chief says the automaker no longer needs a merger or alliance to remain competitive, thanks to strong sales of its S.U.V.s and trucks.
    Elias M. Stein, Mathematician of Fluctuations, Is Dead at 87

    Elias M. Stein, Mathematician of Fluctuations, Is Dead at 87


    Elias M. Stein in his office at Princeton University in 2017. After fleeing war-torn Europe, he seized on mathematics in high school in New York. “He had this great vision of where mathematics should go,” a colleague...

    Arriving from Europe with diamonds in his shoes (hidden there), he found renown in his field with real-world applications, like charting a stock market.
    New York Empire of Illegal Airbnb Rentals Booked 75,000 Guests, Suit Says

    New York Empire of Illegal Airbnb Rentals Booked 75,000 Guests, Suit Says


    Metropolitan Property Group, a real estate brokerage firm, is accused of using a complex web of 18 corporate entities and fake identities on Airbnb to convert 130 apartments into de facto hotel...

    New York City filed a lawsuit against a ring of real estate brokers for using Airbnb to illegally rent out apartments in five Manhattan buildings.
    Best Credit Card for Travelers? Probably Not One From an Airline

    Best Credit Card for Travelers? Probably Not One From an Airline


    Airline cards offer free checked bags and priority boarding. But general-use cards with travel perks are often a better choice, an analysis...

    Airline cards offer free checked bags and priority boarding. But general-use cards with travel perks are often a better choice, an analysis found.
    Market Turmoil Hurt Citi’s Revenue as ’18 Ended, Signaling Possible Trouble

    Market Turmoil Hurt Citi’s Revenue as ’18 Ended, Signaling Possible Trouble


    “Right now, we see the biggest risk in the global economy as one of talking ourselves into a recession,” Citgroupi’s chief executive, Michael Corbat, told analysts on...

    The first of the largest United States banks to report earnings for last year’s fourth quarter warned that Fed policy and the trade war between the United States and China were creating new risks.
    ‘Cut the Wire,’ a Toy Bomb Game, Is Discontinued After Criticism

    ‘Cut the Wire,’ a Toy Bomb Game, Is Discontinued After Criticism


    In the game Cut the Wire, the goal is to defuse a toy bomb. Department stores in North America have stopped selling it after complaints from...

    Players had to defuse a toy bomb before time ran out. The manufacturer thought children would see themselves as heroes but critics did not see it that way.
    China Investigates Latest Vaccine Scandal After Violent Protests

    China Investigates Latest Vaccine Scandal After Violent Protests


    Manufacturing polio vaccines in China in 2015. Local officials in eastern China said last week that at least 145 children had received expired oral polio...

    The inquiry comes after hundreds of Chinese parents demonstrated outside a local government office, angered that their children had received expired polio vaccines.
    Malaysia Blames Goldman Sachs for Stolen Billions

    Malaysia Blames Goldman Sachs for Stolen Billions


    The Goldman Sachs headquarters in New York. The Malaysian government is seeking $7.5 billion in compensation from the...

    “Don’t tell me you don’t know where the money went,” the country’s finance minister said.
    Mediator: Fake News as ‘Moral Imperative’? Democrats’ Alabama Move Hints at Ugly 2020

    Mediator: Fake News as ‘Moral Imperative’? Democrats’ Alabama Move Hints at Ugly 2020


    Roy Moore, the Republican candidate for Senate in Alabama at a campaign stop in 2017. According to new reports, a group of Democrats used online disinformation against Mr....

    Reports about the use of homegrown disinformation online in a 2017 Senate race suggest foreign operatives may be just one thing threatening the integrity of the next presidential election.
    Gin’s Journey in Britain, From ‘Mother’s Ruin’ to a Hipster Drink

    Gin’s Journey in Britain, From ‘Mother’s Ruin’ to a Hipster Drink


    After surging for a decade, gin sales in Britain reached nearly 2 billion pounds, or about $2.6 billion, through last fall, compared with £1.26 billion for the same period in...

    Sales of the British standby have soared so much that the country added it back to the basket of goods it uses to measure inflation. Now, distillers are looking to reach a global cocktail crowd.

    PG&E Chief Is Out as Utility Faces California Fire Liability


    The utility faces an estimated $30 billion exposure to liability for damages from the 2017 and 2018 wildfires that killed scores in Northern...

    The utility faces an estimated $30 billion exposure to liability for damages from the 2017 and 2018 wildfires that killed scores in Northern California.
    DealBook Briefing: A Rival Makes a Bid for Gannett

    DealBook Briefing: A Rival Makes a Bid for Gannett


    President Vladimir Putin of Russia and President Trump at a summit meeting in Buenos Aires in...

    MNG Enterprises, the owner of one of the largest newspaper businesses in the country, made a takeover offer for Gannett. But it has been rebuffed before.
    Electric Vehicles Are in the Spotlight at Detroit’s 2019 Auto Show

    Electric Vehicles Are in the Spotlight at Detroit’s 2019 Auto Show


    Ken Westerman and his new Toyota Prius hybrid in his driveway in Ann Arbor, Mich. He considered buying a Tesla Model 3 instead, but the challenges of recharging dissuaded...

    Automakers are rolling out models meant to widen the appeal of electric cars. But making it easier and faster to charge them is a crucial challenge.
    SpaceX, Elon Musk’s Rocket Company, Cuts 10 Percent of Its Work Force

    SpaceX, Elon Musk’s Rocket Company, Cuts 10 Percent of Its Work Force


    A SpaceX Falcon 9 rocket launch in Cape Canaveral, Fla. The private rocket company said layoffs were a strategic step in anticipation of the “extraordinarily difficult challenges...

    The private company, which aims to send humans to Mars, will have about 6,000 employees remaining after the companywide layoffs.