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DealBook: Citigroup Acted. Now, Two New Ideas on How Banks Can Limit Gun Sales.

Supported by Business Day Citigroup Acted. Now, Two New Ideas on How Banks Can Limit Gun Sales. Photo A gun shop in Virginia. Asked about the response to Citibank’s new restrictions on gun sales by its retail clients, the chief executive, Michael Corbat, said, “The positives have significantly outweighed the negatives.” Credit Erin Schaff for The New York Times On Saturday afternoon, as hundreds of thousands of people joined the March for Our Lives around the nation, I was on the phone with Michael Corbat, chief executive of Citigroup.
Mr. Corbat had taken the remarkable step on Thursday of authorizing a new set of rules to restrict gun sales by Citi’s clients, the first time a Wall Street bank had used its position to influence the gun control debate.
Five weeks earlier, a gunman’s attack at a high school in Parkland, Fla., had left 17 dead. Soon afterward, I wrote a column challenging the business world to “effectively set new rules for the sales of guns in America,” given Washi..

Behind the Rise of China’s HNA: The Chairman’s Brother

Supported by Business Day Behind the Rise of China’s HNA: The Chairman’s Brother 查看简体中文版 查看繁體中文版 Photo Credit Jun Cen When a former Microsoft executive decided to sell his collection of eight golf properties in Washington State, a small Chinese company started quietly negotiating for them.
The company, West Coast Golf, said it was working on behalf of wealthy Chinese investors, including a Hong Kong company. Then the talks stalled.
A year later, a big Chinese conglomerate, HNA Group, suddenly swooped in and agreed to pay $137 million to buy the properties from the former tech executive’s company, Oki Golf.
The two Chinese companies had an important connection: The head of West Coast Golf, Wang Wei, is the younger brother of HNA’s longtime co-chairman, Wang Jian.
Continue reading the main story The activities of Wang Wei have been central to HNA’s transformation from a small regional airline to a vast global conglomerate, one with nearly $100 billion in revenue and stakes in Deuts..

Amazon shares fall wiping more than $30bn off value after reports Trump wants to 'go after' tech giant

President Trump wants to change Amazon's tax treatment and has talked about using antitrust laws to 'go after the company', according to reports
Amazon shares fell almost 5 per cent on Wednesday, wiping more than $30bn (£21.4bn) off its market value, after news website Axios reported that US President Donald Trump is obsessed with the world’s largest online retailer and wants to rein in its growing power.
President Trump has talked about using antitrust law to “go after” the company because he is worried about mum-and-pop retailers being put out of business by Amazon, Axios reported, citing five sources it said had discussed the issue with him.
President Trump also wants to change Amazon’s tax treatment, the Axios report said, an issue the president raised publicly last year when he called for an internet tax for online retailers, even though Amazon already collects sales tax on items it sells direct to customers.
Read more Amazon to drop $1bn on adaptation of one..

Letter 51: Getting to Know (and Appreciate) Rural Australia

Getting to Know (and Appreciate) Rural Australia Damien Cave, our Australia bureau chief, shares insights on Australia, news of the world and reader feedback in this weekly newsletter. Want it by email? Sign up.
I’m in rural Victoria this week reporting on immigration — part of our effort to explore Australia’s multicultural present and future — and I have to say, now I get why so many of you urged me to get out of the cities and into the country.
This isn’t my first trip to regional Australia, and let’s put aside the “real Australia” argument; in my book, cities and towns are both reflections of national character.
But just as dinner parties are different with six guests rather than 60, towns with a few hundred people do have a lot to teach about human interaction and how a country really works.
Continue reading the main story In my experience, towns of the singular — one market, one intersection — tend to produce a few things in abundance. Questions are among t..

Dropbox Shares Leap in I.P.O., and Silicon Valley Smiles

Dropbox Shares Leap in I.P.O., and Silicon Valley Smiles Photo A contingent from Dropbox, including co-founders Drew Houston and Arash Ferdowsi, celebrate while ringing the opening bell at the Nasdaq stock exchange Friday. Shares of Dropbox soared to nearly $30 shortly after trading started. Credit Lucas Jackson/Reuters Dropbox, the file-sharing company and Silicon Valley darling, had a strong market debut Friday, a reassuring sign for the technology industry and for the investors who have billions locked up in other highly valued but privately held start-ups.
Shares of San Francisco-based Dropbox, which had sold 36 million shares at $21 each on Thursday night, rose 36 percent in the first day of trading. That pushed Dropbox’s market value to $11.2 billion, above where it had been valued in the private markets.
The initial public offering arrived at a dicey time. Stock markets have been on a roller coaster, with investors anxious about the threat of inflation, possible trade wars and g..

Missed Connections: Craigslist Drops Personal Ads Because of Sex Trafficking Bill

Missed Connections: Craigslist Drops Personal Ads Because of Sex Trafficking Bill Photo Senator Rob Portman of Ohio was a co-author of the sex trafficking bill, which has raised concerns among some tech companies and rights groups, including the A.C.L.U. and the Electronic Frontier Foundation. Credit Jonathan Ernst/Reuters Looking for love or a “casual encounter”? You’ll have to find it someplace other than Craigslist.
The venerable online classifieds site removed its “personals” section this week, after Congress sent a bill to President Trump aimed at curtailing sex trafficking.
Craigslist, little changed since it unveiled its spare text design in 1995 and began to crush the paid print classifieds business, will no longer offer a way for anonymous people to connect for romance or sex.
While many people used the site to find relationships — one of the discontinued categories is “strictly platonic” — it was no secret that some postings were thinly veiled solicitations for prostitution, ..