Category Archives: BUSINESS

Massive United States-Saudi Infrastructure Fund Struggles to Get Going

Supported by Business Day Massive United States-Saudi Infrastructure Fund Struggles to Get Going Photo Saudi Arabia’s Crown Prince Mohammed bin Salman at the United Nations in New York City last month. Credit Amir Levy/Reuters Last May, the private equity firm Blackstone announced that it was creating a $40 billion fund that would invest in infrastructure projects in the United States. The fund’s largest backer was the government of Saudi Arabia, which agreed to kick in half the cash.
Ten months later, the highly anticipated fund has yet to complete an initial round of fund-raising, much less start investing in infrastructure.
Although the Saudis promised to contribute up to $20 billion, Blackstone is required to raise a dollar from other investors for every dollar the kingdom’s Public Investment Fund puts in. So far, only two other investors have publicly committed to the fund, with their contributions totaling $575 million, according to data provider Preqin, which tracks such in..

How Bill O’Reilly Silenced His Accusers

Supported by Media How Bill O’Reilly Silenced His Accusers Photo The former Fox News host Bill O’Reilly had hoped to keep settlement agreements with women who accused him of harassment sealed. A judge made them public on Wednesday. Credit Brendan Mcdermid/Reuters Settlement agreements between Bill O’Reilly and two of his accusers — made public for the first time on Wednesday — filled in previously unknown details about tactics employed by the former Fox News host to silence women who came forward with sexual harassment allegations against him.
The documents show that two women who reached settlements, Andrea Mackris and Rebecca Gomez Diamond, were required to turn over all evidence, including audio recordings and diaries, to Mr. O’Reilly. In addition, Ms. Mackris was required to disclaim the materials “as counterfeit and forgeries” if they ever became public.
The settlement with Ms. Mackris confirms a New York Times investigation that found a private investigator had been used to ..

Cyberattack Shows Vulnerability of Gas Pipeline Network

Supported by Energy & Environment Cyberattack Shows Vulnerability of Gas Pipeline Network Photo A natural-gas plant in North Dakota operated by Oneok, one of the companies affected by a cyberattack on a data network connecting gas-pipeline operators and their customers. The companies said the attack did not lead to any service interruptions. Credit Jim Wilson/The New York Times HOUSTON — A cyberattack on a shared data network forced four of the nation’s natural-gas pipeline operators to temporarily shut down computer communications with their customers over the past week.
No gas service was interrupted, the companies said, and the interruption of customer transactions was merely a precaution. It was unclear whether any customer data was stolen.
The attack highlighted the potential vulnerability of the nation’s energy system, cyberexperts say. Beyond consumer and business data — energy companies possess much proprietary information about their holdings, trading strategies and explo..

‘Roseanne’ Mania Cools Slightly in Show’s Second Week

Supported by Media ‘Roseanne’ Mania Cools Slightly in Show’s Second Week Photo From left, Whitney Cummings, the executive producer of “Roseanne,” at the series premiere with cast members Michael Fishman, John Goodman, Jayden Rey, Roseanne Barr, Sara Gilbert, Sarah Chalke and Emma Kenney. Credit Valerie Macon/Agence France-Presse — Getty Images “Roseanne” mania has cooled slightly, but the ratings numbers for the show’s second night suggest that it is indeed a bona fide hit for ABC.
The first two episodes of the revived sitcom, which aired back-to-back on March 27, scored huge ratings, surprising television executives and making the case that traditional networks are not about to cede their audiences to Netflix and other streaming services.
In its return on Tuesday, the show notched 15.1 million viewers, according to preliminary figures from Nielsen, a sturdy performance after last week’s blockbuster debut. The numbers were expected to increase once delayed viewing is factored in l..

The Latest on the U.S.-China Trade Conflict: Exchanging Tariffs

Supported by Business Day The Latest on the U.S.-China Trade Conflict: Exchanging Tariffs Photo Loading imported soybeans at a port in the Chinese city of Nantong. China struck back Wednesday at American tariffs placed on its goods with tariffs of its own. Credit CHINATOPIX, via Associated Press It looks a lot like a trade war.
The Trump administration took a direct hit at China on Tuesday for its trade practices, detailing more than 1,300 imported goods from the country that would face a 25 percent tariff. About $50 billion worth of imported Chinese goods will be subject to tariffs, including flat-screen televisions, medical devices and aircraft parts.
China then struck back at the United States with its own tariffs, also worth $50 billion. Those tariffs, on 106 types of American goods, take direct aim at the farm belt and manufacturing hubs, both big bases for President Trump.
[READ MORE: How the administration imposed tariffs and how China retaliated.]
The Trump administration ..

William Prochnau, Journalist and Author, Is Dead at 80

Supported by Obituaries William Prochnau, Journalist and Author, Is Dead at 80 Photo William Prochnau in an undated photograph. His article “Adventures in the Ransom Trade” was the basis for the movie “Proof of Life,” a kidnapping thriller starring Meg Ryan and Russell Crowe. Credit Laura Parker William Prochnau, a journalist and author who wrote a critically acclaimed book, “Once Upon a Distant War,” about a handful of skeptical reporters whose early warnings that the United States wasn’t winning in Vietnam went unheeded, died on March 28 in his home in Washington. He was 80.
The cause was coronary artery disease, said his wife and frequent collaborator, Laura Parker, a staff writer for National Geographic magazine.
Mr. Prochnau was a reporter for The Washington Post and a contributing editor of Vanity Fair, where his article “Adventures in the Ransom Trade” was the basis for the movie “Proof of Life” (2000), a kidnapping thriller starring Meg Ryan and Russell Crowe. (Ms. Parker ..

The United States Is Starting a Trade War with China. Now What?

Supported by Business Day The United States is Starting a Trade War with China. Now What? Photo The products targeted by the White House are part of an effort to go after China’s dominance in cutting-edge technologies like semiconductors, electric vehicles and advanced medical products — industries that China is pursuing dominance in as part of an industrial plan known as “Made in China 2025.” Credit Gilles Sabrié/Bloomberg The Trump administration is on the cusp of a trade war with China, one that threatens broad swaths of the United States economy, from soybean farmers to pork producers to automobile and drug makers.
On Wednesday, China threatened to retaliate against many of the American products and industries that President Trump has vowed to protect, hitting back against the administration, which detailed a list of $50 billion in Chinese imports that it plans to tax. China, in response, outlined tariffs on $50 billion worth of American soybeans, cars, chemicals and other goo..