Aurelia Butler

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    Is Russia Open for Business — and at What Cost?

    Investors seem open to the prospect of peace talks, but Western companies face a dilemma just three years after many retreated from the country.The return of Western businesses would be an enormous lift to President Vladimir Putin of Russia. But would they dare risk it?Pool photo by Mikhail MetzelWe’re taking a look at President Trump’s plans to consolidate control over many of the agencies that oversee business, including the S.E.C., the Federal Trade Commission, the Federal Communications Commission and the National Labor Relations Board.For years, industry has complained about the alphabet soup of agencies, which often compete with one another. Some officials argue that is a feature, not a bug, while others have called for a complete rethinking of the regulatory apparatus in the country. What do you think?Meanwhile, President Trump is expected to speak on Wednesday at the Saudi-hosted FII Priority conference in Miami Beach, the event that’s increasingly a gathering of power players including Ken Griffin of Citadel, Dara Khosrowshahi of Uber and Masa Son of SoftBank. DealBook’s Lauren Hirsch will be reporting on the ground there and we’ll bring you the latest Thursday morning.“Incredible opportunities” Frozen out of potential Russia-Ukraine peace talks, European leaders are either feeling dazed or are fuming. But investors are feeling increasingly optimistic about the prospects of the nearly three-year war ending, especially as President Trump indicates he may meet with President Vladimir Putin of Russia this month.One big question is how corporate leaders feel about U.S. and Russian officials signaling that Russia may reopen to Western businesses. Concerns like the future of Western sanctions on Moscow remain unresolved, while companies may still feel burned by their hasty and costly exodus from the country.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Nikola, Electric Truck Maker, Files for Bankruptcy

    The company, which once enjoyed a surging stock price, struggled to turn its plans for electric and hydrogen trucks into a viable business.Nikola, an electric vehicle start-up that had once hoped to become the Tesla of heavy trucks, filed for bankruptcy protection on Wednesday.Founded in 2015, Nikola promised to develop long-haul semi trucks powered by hydrogen and electricity, and listed itself on the stock exchange in 2020 before it had sold a single vehicle. Its share price surged briefly as individual investors and some Wall Street firms clamored to bet on companies that they thought could replicate Tesla’s success and its soaring stock price.Investors’ short-lived enthusiasm for Nikola made its founder, Trevor Milton, and other early investors wealthy. But before long, significant doubts emerged about Mr. Milton’s claims about the company’s technology and orders from customers. He was soon ousted, and later convicted on fraud charges.In recent quarters, Nikola had begun delivering small numbers of electric trucks but far too few to make money. Late last year, the company said it had $200 million in cash and $270 million in long-term debt. Its stock plunged in early February on reports that the company was nearing a bankruptcy filing.The company said in a release it had about $47 million in cash on hand, and intended to continue “limited” service and support for trucks out on the road. The bankruptcy filing listed liabilities of between $1 billion and $10 billion, and put the number of creditors it owes at between 1,000 and 5,000.Nikola is one of several fledgling electric vehicle companies that have struggled to turn their ideas into actual cars and trucks.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    South Korean Officials Convicted Over Forcibly Sending North Koreans Home

    The case of two North Korean fishermen, who murdered 16 compatriots before they sought asylum, has become a political minefield in the South.In 2019, two North Korean fishermen confessed to murdering 16 shipmates ​before they fled to South Korea by boat​ and sought asylum.​ The then-progressive government in ​the South denied them refugee status ​or a trial there and, in an unprecedented move, sent them back to the North​.​That decision triggered ​not only a political firestorm at the time​ but also criminal charges against four senior officials prosecuted after the current conservative government, with a more hard-line stance against North Korea, took power in Seoul in 2022.On Tuesday, a three-judge panel in the Seoul Central District Court found the four top national security aides to former President Moon Jae-in guilty of abusing their official power when they sent the fleeing North Korean fishermen back. The court announced prison sentences but decided not to impose them immediately, indicating in its verdict that it considered the criminal charges against the​ officials to be politically motivated under Mr. Moon’s successor, President Yoon Suk Yeol.The four former officials — Mr. Moon’s national security adviser, Chung Eui-yong; his director of national intelligence, Suh Hoon; his presidential chief of staff, Noh Young-min; and his unification minister, Kim Yeon-chul — were sentenced to six to 10 months in prison. But the sentences were suspended for two years, after which they will be removed.The criminal charges the four faced were the first of their kind in South Korea and reflect the polarization between the country’s two main political parties when it comes to dealing with its decades-old foe North Korea.​When South Korea captured the two North Korean fishermen, then ages 22 and 23, in its waters in 2019​, they were no ordinary defectors. They confessed that they fled after killing the captain and 15 other crewmen on their boat with ​hammers, dumping​ their bodies into the sea.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Ukraine’s Equation

    The West has fractured, and Putin knows it.For Ukraine, a peace deal with Russia is not just about stopping the war. A deal should also prevent the next one — by convincing Russia that its invasion was a costly failure.In that context, the past week brought a lot of bad news for Ukraine. American officials conceded that Ukraine would not reclaim all of its territory or join NATO. They also said that U.S. troops would not help protect Ukraine’s borders after the war.Maybe a truce would have eventually included those conditions. But by granting them now, the concessions push a peace deal in Russia’s favor — and may get Vladimir Putin to think that, after all of this, the war was worth the costs. “The United States is intent on ending this war,” said my colleague Julian Barnes, who covers international security. “And ending it quickly likely means trying to end it on Russia’s terms.”Today’s newsletter looks at why Ukraine is increasingly concerned about a future Russian invasion.Imposing costsSince the beginning of the war, Ukraine has worried that an eventual cease-fire will simply give Russia time to rebuild and come back. So Ukraine and its allies have tried to prevent this scenario through two approaches.First, they have tried to make the war as costly as possible for Russia. On the diplomatic front, Ukraine’s allies have imposed economic sanctions on Russia. On the battlefield, Russia has lost hundreds of thousands of soldiers to death and injuries. At the same time, Ukraine has tried to retake as much territory as possible. If Russia ended the war with an economy in ruins, a colossal death toll and little new territory, it would likely look at the invasion as a mistake.Sources: The Institute for the Study of War | Map is as of Feb. 18. | By The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Wisconsin Superintendent of Public Education Primary Election Results 2025

    Source: Election results and race calls are from The Associated Press.By The New York Times election results team: Michael Andre, Emma Baker, Neil Berg, Andrew Chavez, Michael Beswetherick, Matthew Bloch, Lily Boyce, Irineo Cabreros, Nico Chilla, Nate Cohn, Alastair Coote, Annie Daniel, Saurabh Datar, Leo Dominguez, Tiff Fehr, Andrew Fischer, Martín González Gómez, Joyce Ho, Will Houp, Jon Huang, Junghye Kim, K.K. Rebecca Lai, Jasmine C. Lee, Joey K. Lee, Vivian Li, Alex Lemonides, Ilana Marcus, Alicia Parlapiano, Jaymin Patel, Dan Simmons-Ritchie, Charlie Smart, Jonah Smith, Urvashi Uberoy, Isaac White and Christine Zhang
    Source: Election results and race calls are from The Associated Press. More

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    HP to Buy Humane, Maker of the Ai Pin, for $116 Million

    Humane, which marketed its Ai Pin as the next big thing after smartphones, had raised $240 million from investors, including OpenAI’s Sam Altman. The pin will be discontinued.Humane, the ambitious start-up behind the Ai Pin device that aimed to one day replace smartphones, agreed to sell parts of its business to HP for $116 million, the companies said on Tuesday.HP said it planned to acquire Humane’s “A.I. capabilities,” including its software platform, intellectual property, patents and some employees. The Ai Pin will be shut down, Humane said in a message to customers.The deal caps a downfall for the high-flying start-up, which heavily promoted the $699 pin with ads, a TED Talk and at Paris Fashion Week with supermodels. Humane raised $240 million in funding from high-profile investors, including Marc Benioff, the chief executive of Salesforce, and his counterpart at OpenAI, Sam Altman, valuing the company at $850 million before it released a product.Humane was created by Imran Chaudhri and Bethany Bongiorno, husband-and-wife founders who previously worked at Apple. The pair envisioned a wearable device that people would clip to their clothes and interact with using voice commands and a laser display projected onto their hand. The idea was to cut down on time spent staring at smartphone screens.Bethany Bongiorno and Imran Chaudhri at Humane’s office in San Francisco in 2023.Kelsey McClellan for The New York TimesBut the Ai Pin, which began shipping to customers last spring, was a flop.Reviewers criticized the product, with the A.I. software often giving wrong answers or taking a long time to respond, while the pin’s batteries sometimes overheated. Humane had hoped to sell 100,000 pins in its first year but got only around 10,000 orders. At one point, the company told customers to stop using their charging cases because of the fire risk.Last year, Humane hired an investment bank to sell itself, while also seeking new funding. The start-up sought a sale price of more than $1 billion.On Tuesday, a letter posted to Humane’s website said that the pins would no longer work at the end of this month and that customer data would be deleted. “Our business priorities have shifted,” the letter said.HP, which sells an estimated 53 million PCs a year, has said it wants to add A.I. capabilities to its laptops to make them more useful. Last year, HP worked with Microsoft to develop a line of A.I. computers called Copilot+ PCs.In its announcement, HP said it would use Humane’s technology to become a more “experience-led company.” Humane’s workers will be part of a new innovation lab called HP IQ, which will focus on “building an intelligent ecosystem across HP’s products and services.” Mr. Chaudhri and Ms. Bongiorno will join the company, as will the majority of the start-up’s employees, an HP spokeswoman said.“We are investing and innovating aggressively in new A.I.-powered capabilities and software,” said Enrique Lores, president and chief executive of HP, during a call with analysts in November. “We will focus on delivering a cutting-edge A.I.-powered tech.” More

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    NYT Crossword Answers for Feb. 19, 2025

    Joe Deeney leaves us in stitches.Jump to: Today’s Theme | Tricky CluesWEDNESDAY PUZZLE — We all have different gifts. Some of us are naturally athletic; others seem to have a green thumb. I have been blessed (cursed, really) with the ability to pun on cue. The theme of Joe Deeney’s crossword celebrates yet another area of expertise: handicraft.If you have a special skill beyond those listed above, I’d love to hear about it in the comments section. Maybe we can collectively confer our weird and wonderful talents onto one another.Today’s ThemeJust as there are spelling bees, there is a [Social sewing event] called a QUILTING BEE (59A), but I’m told it’s noncompetitive. The participants are in a room just working on their own quilting projects. What a lovely idea for a gathering. More bees, please!The revealer at 59-Across tells us that QUILTING BEE is a [hint to the starts of 17-, 29-, 34- and 44-Across]. In this case, “starts” refers to the first words of each entry. Each themed entry begins with a bit of quilting jargon (except for 29A, which starts with the fairly obvious “blanket”).A [Film megahit] is a BLOCKBUSTER (17A), as in quilt blocks. The name of a [Small British hunting dog] begins with a word for what surrounds the quilt pattern: BORDER TERRIER (34A). And a [Slugger’s pregame warm-up] is referred to as BATTING PRACTICE; the first word refers to the stuff that makes your quilt nice and puffy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Hochul May Deploy National Guard as Wildcat Strikes Hit 25 N.Y. Prisons

    Corrections officers, without their union’s approval, refused to show up for work to protest what they say are hazardous conditions and severe staff shortages.Gov. Kathy Hochul threatened on Tuesday to use the National Guard to ensure the safety of New York’s prisons after wildcat strikes by corrections officers spread to more than half of the state’s 42 penitentiaries.The threat was a response to labor actions that began on Monday with officers assigned to two upstate prisons refusing to come to work to protest staff shortages and other conditions. By Tuesday, strikes had emerged at 25 prisons, state officials said.The officers’ union said it had not authorized the job actions, and Ms. Hochul, calling them “illegal and unlawful,” said she was considering forcing the officers back to work by invoking a state law that prohibits most public employees in New York from going out on strike.“We will not allow these individuals to jeopardize the safety of their colleagues, incarcerated people and the residents of communities surrounding our correctional facilities,” the governor said in a statement.The strikes, the first widespread work stoppage in New York’s prisons since a 16-day walkout by officers in 1979, come as the state correctional system faces close scrutiny stemming from the fatal beating of a 43-year-old inmate by officers in December.Criminal charges are likely to be announced on Thursday against at least some of the officers and other corrections department employees whom state officials have implicated in the killing of the man, Robert Brooks, at Marcy Correctional Facility near Utica.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More