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China Says Anbang’s Founder Defrauded Investors of $10 Billion

Supported by Business Day China Says Anbang’s Founder Defrauded Investors of $10 Billion 查看简体中文版 查看繁體中文版 Photo Wu Xiaohui, founder of Anbang Insurance Group, could face life imprisonment if convicted. Credit Thomas Peter/Reuters BEIJING — China accused the deal maker who bought the Waldorf Astoria hotel in New York of bilking investors of more than $10 billion.
The vast amount of money that officials said the deal maker, Wu Xiaohui, had obtained illegally raised the stakes in a prosecution meant to show Beijing’s resolve to crack down on the titanic borrowing binge of recent years. The Chinese government last month seized Mr. Wu’s company, Anbang Insurance Group, in a move seen as making an example of a firm that piled on too much debt too fast and added risks to the country’s already creaky financial system.
The $10.3 billion that prosecutors allege that Mr. Wu and Anbang raised illegally would make the case one of China’s biggest financial crimes trials.
Mr. Wu pleaded guilty to..

The Pro Football Hall of Fame Expansion Project Hits the Skids

Supported by Sports The Pro Football Hall of Fame Expansion Project Hits the Skids The Pro Football Hall of Fame in Canton, Ohio, is supposed to become a Disney-esque, multiple-day destination with a four-star hotel, a state-of-the-art stadium, a water park, a youth sports complex, a retail promenade, a convention space, a 143-bed assisted living facility for retired Hall of Famers and a small hospital.
At the moment, however, it is a project with a skyrocketing budget, stalled progress, a developer with a checkered performance history in the region who has been accused of misusing $25 million in funds from a federal program, and contractors who recently went months without being paid. Financing problems have necessitated an emergency bank loan, and elected officials in Stark County have discussed a special ballot measure for a sales tax increase to subsidize the project known as Hall of Fame Village.
“You have to watch the warning signs when you are working with any developer,” s..

John Cacioppo, Who Studied Effects of Loneliness, Is Dead at 66

Supported by Obituaries John Cacioppo, Who Studied Effects of Loneliness, Is Dead at 66 Photo John and Stephanie Cacioppo, partners in marriage and neuroscience, at the University of Chicago in 2017. Credit Whitten Sabbatini for The New York Times She was a brain researcher and an authority on the scientific basis of love. He, too, was a neuroscientist, but with an expertise in loneliness. She was in her mid-30s, he in his late 50s.
Both were wedded to careers in separate hemispheres — until they happened to be seated beside each other, serendipitously, at dinner on the last night of a neuroscience research symposium in Shanghai.
Before going their separate ways, they left the restaurant together. A romantic full moon was rising over the East China Sea. He snapped a photograph. A few weeks later, she emailed him to request a copy (which she later admitted was just a pretext to resume their brief acquaintance).
She, Stephanie Ortigue, was conducting research at the University of Ge..

Poison Was Left on Russian Spy’s Front Door, the British Police Say

Poison Was Left on Russian Spy’s Front Door, the British Police Say Photo Police officers outside the home of Sergei V. Skripal, a former Russian double agent who was poisoned by a nerve agent, in Salisbury, England. Credit Frank Augstein/Associated Press LONDON — The British authorities said on Wednesday that Sergei V. Skripal and his daughter, Yulia, the poison victims at the epicenter of a diplomatic crisis between Russia and the West, had been sickened with a nerve agent on the front door of Mr. Skripal’s house.
The announcement narrows the many possibilities of how the Skripals came into contact with the poison.
Detectives will focus their efforts now on Mr. Skripal’s house in the cathedral town of Salisbury, England, said Dean Haydon, senior national coordinator for counterterrorism policing, in a news release.
They will also, presumably, search for a person who could have delivered the poison.
Mr. Skripal, a former Russian double agent, and his daughter, who had been visiting hi..

Budget Deal in Congress Includes Help for Affordable Housing

Budget Deal in Congress Includes Help for Affordable Housing Photo An affordable-housing complex under construction in the Tenderloin neighborhood of San Francisco in January. The low-income housing tax credit has been a major lever in financing residential construction for the poor. Credit Jim Wilson/The New York Times When Congress voted last year to sharply reduce corporate income taxes, it undermined the nation’s largest subsidized housing program. This week’s federal spending compromise may help shore it up.
The program, called the low-income housing tax credit, enables corporations to lower their taxes by helping to finance low-cost housing. Lower corporate tax rates made the credit less useful, alarming developers and agencies that provide housing for the poor in rural America and large cities.
Senator Maria Cantwell, Democrat of Washington, negotiated a provision in the spending bill to increase the number of affordable-housing credits for the first time in a decade. Developers..

F.C.C. Joins Push to Limit China’s Telecom Reach

F.C.C. Joins Push to Limit China’s Telecom Reach Photo A target of a national security rule proposed by the Federal Communications Commission is the Chinese giant Huawei, which promoted its telecommunications equipment at the CES trade show in January in Las Vegas. Credit David Becker/Getty Images The Federal Communications Commission is joining the Trump administration, Congress and other government agencies that have targeted Huawei, China’s giant telecommunications equipment maker, as a national security risk.
Ajit Pai, chairman of the commission, on Monday proposed a rule to tighten restrictions on companies building internet infrastructure in the United States. Part of the rule’s impact may be to further crimp Huawei’s meager sales in America by potentially affecting some deals with small and rural carriers, analysts said.
The proposed F.C.C. rule would prohibit carriers from using money from the Universal Service Fund to buy gear from companies deemed to pose national security ri..