Author: NY TIMES

JPMorgan Chase plays a part in trillions of dollars of financial market trading around the world every day, but federal regulators said the bank’s systems for sharing details of that activity with them were not working properly for about a decade. Those lapses are costing it more than $348 million in fines — and more could follow.On Thursday, the bank’s main federal regulator, the Office of the Comptroller of the Currency, fined the JPMorgan $250 million over the omissions. The action followed a $98.2 million penalty from the Federal Reserve on March 8. The bank recently told investors in a…

I was really rooting for TikTok.In 2020, when the Trump administration first tried to force TikTok’s Chinese owner, ByteDance, to sell the app or risk having it shut down, I argued that banning TikTok in the United States would do more harm than good.Why? Partly because TikTok seemed like a convenient scapegoat for problems — invasive data collection, opaque content policies, addictive recommendation algorithms — that plagued all the big social media apps, and partly because I never bought the argument that the app was a Chinese spying tool hiding in plain sight.I’m still skeptical of that argument. If the…

The murder conviction of the dancehall artist Vybz Kartel and three co-defendants was overturned on Thursday by the highest court of appeal for Jamaica and other Commonwealth countries.Vybz Kartel, born Adidja Palmer, had previously been convicted and given a life sentence for the 2011 murder of Clive Williams, known as Lizard. The sentence was later reduced to 32 and a half years.On Thursday, the Judicial Committee of the Privy Council in London overturned the conviction because of allegations of jury misconduct in the 2014 trial. A juror, described in court documents as “Juror X,” was allowed to remain seated after…

Israel’s military on Thursday said it supported new initiatives to get humanitarian assistance into Gaza by land, air and sea, just hours after the military’s chief spokesman said it was trying to “flood” the enclave with sorely needed aid.Israel has endorsed three new aid efforts over the past week — a ship carrying food approaching the coast off Gaza; airdrops by foreign countries; and an initial convoy of six trucks crossing directly from Israel into northern Gaza, where aid agencies say hunger is severest, for the first time since Oct. 7.The public signaling from Israeli officials follows increasingly urgent calls…

Prime Minister Viktor Orban is jeopardizing Hungary’s position as a trusted NATO ally, the U.S. ambassador to Budapest warned on Thursday, with “its close and expanding relationship with Russia,” and with “dangerously unhinged anti-American messaging” in state-controlled media.The ambassador, David Pressman, has for months criticized Mr. Orban for effectively siding with President Vladimir V. Putin of Russa over the war in Ukraine, but his latest remarks sharply ratcheted up tensions and indicated that trust in Hungary among NATO allies had collapsed.Hungary is “an ally that behaves unlike any other” and is “alone on the defining issue of European security of…

Ed Begley Jr. could be described as Hollywood royalty: The actor is a son of another actor, Ed Begley, who won a best supporting actor Oscar in 1963.But the younger Mr. Begley, a longtime member of the Academy of Motion Picture Arts and Sciences, the organization behind the Oscars, commuted to this year’s ceremony like a plebeian by taking the Los Angeles Metro. His trip was filmed by his daughter Hayden Begley, who later shared the video on TikTok, where it has since received more than six million views.The video opens with Ms. Begley, 24, asking her mother, Rachelle Carson,…

The Energy Department is moving forward on a deal to provide a $2.3 billion loan to Lithium Americas Corp. in an effort to shore up domestic supplies of a mineral vital for the production of electric vehicles.If finalized, the loan would help finance the construction of a lithium carbonate processing plant at Thacker Pass in Nevada. The plant would be next to a mine site that contains the largest known lithium deposit in North America.Demand for lithium, which is used in the rechargeable batteries that power electric vehicles, has surged as more consumers shift away from gas-burning cars and automakers…

In Taiwan, the government is racing to do what no country or even company has been able to: build an alternative to Starlink, the satellite internet service operated by Elon Musk’s rocket company, SpaceX.Starlink has allowed militaries, power plants and medical workers to maintain crucial online connections when primary infrastructure has failed in emergencies, such as an earthquake in Tonga and Russia’s invasion of Ukraine.Officials in Taiwan face constant reminders that its communication infrastructure must be able to withstand a crisis. The island democracy sits 80 miles from China, where leaders have vowed to use force if needed to assert…

Teen pregnancy increases the chances that a young woman will drop out of school and struggle with poverty, research has shown. Teenagers are also more likely to develop serious medical complications during pregnancy.Now a large study in Canada reports another disturbing finding: Women who were pregnant as teenagers are more likely to die before their 31st birthday. The trend was observed among women who had carried teen pregnancies to term, as well as among those who had miscarried.“The younger the person was when they became pregnant, the greater their risk was of premature death,” said Dr. Joel G. Ray, an…

Esa-Pekka Salonen, the music director of the San Francisco Symphony since 2020, announced on Thursday that he would step down when his contract expires next year, citing differences with the orchestra’s board.Salonen, 65, a groundbreaking conductor who has promoted new music and experimented with virtual reality and artificial intelligence, said he no longer saw a path forward.“I have decided not to continue as music director of the San Francisco Symphony because I do not share the same goals for the future of the institution as the Board of Governors does,” he said in a statement. “I am sincerely looking forward…