Business

William H. Donaldson, the Lion of Wall Street who led the SEC, dies at 93
Business

William H. Donaldson, the Lion of Wall Street who led the SEC, dies at 93

Related media - News 24 hours William H. Donaldson, who made an early fortune as co-founder of the innovative securities firm Donaldson, Lufkin & Jenrette and later pushed for tougher financial regulation as chairman of the Securities and Exchange Commission in the wake of the Enron and WorldCom accounting scandals , died Wednesday at his home in Westchester County, New York, at the age of 93. The cause was leukemia, his son Adam said. Mr. Donaldson also briefly served as undersecretary of state under Henry A. Kissinger, ran the New York Stock Exchange and was chief executive of the insurance company Aetna Inc. In 1975, he was named the founding dean of Yale University's School of Organization and Management, now known as the School of Management, whose mission to train leaders for ...
TikTok’s Future in U.S. Depends on Bet on First Amendment
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TikTok’s Future in U.S. Depends on Bet on First Amendment

Linked media - Related media TikTok takes its fight to court TikTok fired the latest broadside in its battle with Washington, suing to block a law that could force the company to split from ByteDance, its Chinese owner, or face a ban in the U.S. The company argues that the law violates the First Amendment by effectively killing an app in the U.S. that millions of Americans use to share their views. Another problem: a divestiture within 270 days is practically impossible, Sapna Maheshwari and David McCabe report for The Times. DealBook spoke with Maheshwari about the lawsuit filed yesterday and what happens next. Do legal experts think TikTok has a chance at winning? It could go either way. Alan Rozenshtein, an associate professor at the University of Minnesota Law School, says that ...
In a Surprise, Disney+ Becomes Profitable
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In a Surprise, Disney+ Becomes Profitable

Linked media - Linked media When Disney reported robust earnings in February, the activist investors then circling the company essentially called it a stunt — a temporary, heat-of-battle effort to fend them off and not, as Robert A. Iger maintained, proof that a struggling Disney had finally “turned the corner.” The Disney chief’s argument just got a lot stronger. Disney blew past Wall Street’s expectations for a second consecutive quarter on Tuesday, in part because its flagship streaming service made money — a first. Disney+ had been expected to lose more than $100 million in the most recent quarter, widening losses since its 2019 arrival to roughly $12 billion. Instead, it swung to a $47 million profit. “Two quarters earlier than expected,” Hugh Johnston, Disney’s chief financial...
How a Pirate-Clad Pastor Helped Ignite Trump Media’s Market Frenzy
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How a Pirate-Clad Pastor Helped Ignite Trump Media’s Market Frenzy

Linked media - Associated media Mr. Nedohin raised his arms in celebration. A few minutes later, he cut to a video of a rocket blasting into the sky, with Mr. Trump photoshopped onto it. “We are holding Trump stocks,” he declared. “We are now financial investors in him.” Mr. Nedohin is one of hundreds of thousands of amateur investors who own shares of Trump Media, convinced that its sole platform, Truth Social, will become one of the world’s most popular and profitable social media sites. In recent months, tens of thousands of Trump fans have tuned into Mr. Nedohin’s webcasts, where he exhorts viewers to invest in the company, arguing that “Trump always wins in the long run.” The enthusiasm from Mr. Nedohin and other Trump supporters has turned Trump Media into the latest “meme stoc...
Ohtani’s Former Interpreter Is Said to Be Negotiating a Guilty Plea
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Ohtani’s Former Interpreter Is Said to Be Negotiating a Guilty Plea

Linked media - Connected media A spokesman for the U.S. attorney’s office declined to comment. Matthew Hiltzik, a spokesman for Ohtani, referred to the player’s detailed explanation he gave to the media two weeks ago, when Ohtani said Mizuhara had stolen from him and he promised to cooperate fully with the federal and Major League Baseball investigations. “I never bet on baseball or any other sports or never have asked somebody to do that on my behalf,” Ohtani said. “And I have never went through a bookmaker to bet on sports. Up until a couple days ago, I didn’t know this was happening.” The allegations about the theft surfaced when the Dodgers were in Seoul to open the season with games against the San Diego Padres. Interest in the team has been intense since it signed Ohtani to a 1...
Richard Leibner, Agent for Top Broadcast Journalists, Dies at 85
Business

Richard Leibner, Agent for Top Broadcast Journalists, Dies at 85

Linked media - Linked media A trained accountant, Mr. Leibner was described in a 1989 profile by Ben Yagoda in The New York Times Magazine as an idiosyncratic character with a “remarkable emotional range.” “He can be plaintive, cajoling, jocular, terse, profane, sentimental, jovial, respectful, dismissive, analytical or expansive: The one constant is the strain of his native Brooklyn in his voice,” Mr. Yagoda wrote. He was also known for telling incredibly dirty jokes. Andrew Heyward, a former president of CBS News, said in a phone interview: “It would have been easy to dismiss him as a Damon Runyonesque showman, but when it came to actual negotiations, he’d come in, sit on the couch with a legal pad and pen, and we’d go through the details together. He was scrupulously detailed and ...