KABUL, Afghanistan — Ten days after the chaotic evacuation of Afghanistan came to an end, a lone jetliner lifted off from Kabul’s airport on Thursday, the first international passenger flight since American forces ended their 20-year presence in the country.
The departure of the chartered Qatar Airways Boeing 777, with scores of Americans, Canadians and Britons on board, was hailed by some as a sign that Taliban-ruled Afghanistan might be poised to re-engage with the world, even as reports emerged that the group was intensifying its crackdown on dissent.
“Kabul Airport is now operational,” Mutlaq bin Majed Al-Qahtani, a special envoy from Qatar’s Ministry of Foreign Affairs, said at a news conference on the tarmac.
In recent days, Qatari and Turkish personnel worked with the Taliban to repair damage and make the airport basically functional again. But just more than a week ago, the facility was a scene of frantic desperation as people jockeyed to find seats on the last commercial and military planes out.
a suicide bombing attack at the gates of the airport killed scores of Afghans and 13 U.S. service members.
Zabihullah Mujahid, a spokesman for the Taliban who joined the Qatari envoy at the news conference, said that the resumption of international flights would be critical to ensuring that much-needed aid continued to flow into the country.
China, making cautious overtures to its unstable neighbor, has pledged to give $30 million in food and other aid to the new government. But China’s foreign minister, Wang Yi, also urged the Taliban to work to contain terrorist groups.
The United Nations warned on Thursday that the freezing of billions of dollars in Afghan assets to keep it out of Taliban hands would inevitably have devastating economic consequences.
Deborah Lyons, the U.N. special envoy on Afghanistan, told the U.N. Security Council that the international community needed to find way to make these funds available to the country, with safeguards to prevent misuse by the Taliban, “to prevent a total breakdown of the economy and social order.”
a statement. “Afghans who have taken to the streets, understandably fearful about the future, are being met with intimidation, harassment and violence — particularly directed at women.”
U.S. officials said that the Americans on board the flight from Kabul on Thursday were considered the “most interested” in getting out, but said other Americans in Afghanistan would have other opportunities to leave.
Senator Angus King of Maine, an independent who sits on the Senate Intelligence and Armed Services Committees, was cautiously optimistic on Thursday morning about Americans elsewhere in Afghanistan being able to depart from the Kabul airport, although he noted the journey could be “treacherous and difficult.” But he said it was still unclear how many who wanted to leave remained in Afghanistan, or how they would get to the capital.
“I don’t want to sound like I have a great deal of confidence in the Taliban,” Mr. King said, adding, “All I can say is that it appears that, thus far, the Taliban has honored their commitment to allow Americans to leave.”
While the flight Thursday appeared to be a step toward resolving a diplomatic impasse that has left scores of Americans and other international workers stranded in Afghanistan, it was not clear if the Taliban would allow the tens of thousands of Afghans who once helped the U.S. government and now qualify for emergency U.S. visas to leave.
Taliban and foreign officials have said that Afghans with dual citizenship would be allowed to leave, but it was unclear whether any were on the first flight.
It also remained unclear whether charter flights from the airport in the northern city of Mazar-i-Sharif, where dozens of Americans and hundreds of Afghans were waiting to leave the country, would be allowed to fly.
In recent days, Secretary of State Antony J. Blinken has said that the Taliban are to blame for the grounded flights, and that they claim some passengers on the manifesto do not have the proper documentation.
Mr. Price, the State Department spokesman, said the United States had “pulled every lever” to persuade the Taliban to allow flights to depart from Mazar-i-Sharif carrying not only American citizens and legal residents but also Afghans considered to be at high risk.
“It continues to be our contention that these individuals should be allowed to depart,” he said. “At the first possible opportunity.”
Paul Mozur and Marc Santora contributed reporting.
SAN FRANCISCO — President Biden and many lawmakers in Washington are worried these days about computer chips and China’s ambitions with the foundational technology.
But a massive machine sold by a Dutch company has emerged as a key lever for policymakers — and illustrates how any country’s hopes of building a completely self-sufficient supply chain in semiconductor technology are unrealistic.
The machine is made by ASML Holding, based in Veldhoven. Its system uses a different kind of light to define ultrasmall circuitry on chips, packing more performance into the small slices of silicon. The tool, which took decades to develop and was introduced for high-volume manufacturing in 2017, costs more than $150 million. Shipping it to customers requires 40 shipping containers, 20 trucks and three Boeing 747s.
The complex machine is widely acknowledged as necessary for making the most advanced chips, an ability with geopolitical implications. The Trump administration successfully lobbied the Dutch government to block shipments of such a machine to China in 2019, and the Biden administration has shown no signs of reversing that stance.
Congress is debating plans to spend more than $50 billion to reduce reliance on foreign chip manufacturers. Many branches of the federal government, particularly the Pentagon, have been worried about the U.S. dependence on Taiwan’s leading chip manufacturer and the island’s proximity to China.
A study this spring by Boston Consulting Group and the Semiconductor Industry Association estimated that creating a self-sufficient chip supply chain would take at least $1 trillion and sharply increase prices for chips and products made with them.
Moore’s Law, named after Gordon Moore, a co-founder of the chip giant Intel.
In 1997, ASML began studying a shift to usingextreme ultraviolet, or EUV, light. Such light has ultrasmall wavelengths that can create much tinier circuitry than is possible with conventional lithography. The company later decided to make machines based on the technology, an effort that has cost $8 billion since the late 1990s.
The development process quickly went global. ASML now assembles the advanced machines using mirrors from Germany and hardware developed in San Diego that generates light by blasting tin droplets with a laser. Key chemicals and components come from Japan.
a final report to Congress and Mr. Biden in March, the National Security Commission on Artificial Intelligence proposed extending export controls to some other advanced ASMLmachines as well. The group, funded by Congress, seeks to limit artificial intelligence advances with military applications.
Mr. Hunt and other policy experts argued that since China was already using those machines, blocking additional sales would hurt ASML without much strategic benefit. So does the company.
“I hope common sense will prevail,” Mr. van den Brink said.
Australians will have some of the best views of the “super blood moon” this week, but passengers on a one-time flight departing from Sydney will have an even better one.
The Australian airline Qantas will operate a three-hour flight on Wednesday (Tuesday evening in the United States) for about 100 passengers to see the moon enter the Earth’s shadow and turn a blood red color during a total lunar eclipse.
An astronomer from the Commonwealth Scientific and Industrial Research Organisation, Australia’s national science and research agency, worked with the flight’s pilots to “design the optimal flight path,” a statement from the airline said. The astronomer, Vanessa Moss, will also be aboard the plane to educate passengers on the lunar event.
The flight will climb to a cruising altitude of 43,000 feet, “above any potential cloud cover and atmosphere pollution,” the statement said — the maximum altitude for the plane, a Boeing 787 Dreamliner. “Cosmic cocktails and supermoon cakes” will be served.
sold out in less than half an hour.
The flight will depart from and return to Sydney Airport, beginning with a scenic route over Sydney Harbour. Australia’s travel restrictions have been among the world’s harshest, with the government largely prohibiting international travel into or out of the country, even for its own citizens.
Other “flights to nowhere” have departed throughout the pandemic as airlines scrambled to manage the sharp decline in travel. In October, a Qantas flight flew over Australia’s Northern Territory, Queensland and New South Wales, departing from and landing in Sydney. Tickets for the flight sold out in 10 minutes.
Climate activists have criticized the flights as unnecessary and harmful to the environment. Qantas noted that it would offset carbon emissions for its supermoon flight to a net zero.
For those who won’t be on the supermoon flight, the lunar event will be visible mostly from Australia, East Asia, islands in the Pacific and the Western Americas.
The moon will be closest to Earth at 11:50 a.m. Australian Eastern Standard Time, but on the West Coast of the United States, the views will start at 1:47 a.m. Pacific time on Wednesday.
MOSCOW — The tray tables were being raised and the seat backs returned to their upright positions as passengers on Ryanair Flight 4978 prepared for the scheduled landing in the Lithuanian capital, Vilnius. Then the plane made an abrupt U-turn.
For many passengers, it initially seemed like one of those unexpected delays in airline travel. But after the pilot announced the plane had been diverted to Minsk, the capital of Belarus, one passenger — Roman Protasevich, a prominent Belarusian opposition journalist who had been living in exile since 2019 — grew terrified, certain that he faced arrest.
“He panicked because we were about to land in Minsk,” Marius Rutkauskas, who was sitting one row ahead of Mr. Protasevich, told the Lithuanian broadcaster LRT upon arrival in Vilnius.
Sunday’s ordeal — described by many European officials as an extraordinary, state-sponsored hijacking by Belarus to seize Mr. Protasevich — quickly led to one of the most severe East-West flare-ups in recent years.
report rejecting the idea there were K.G.B. agents on the plane, instead showing three people who said on camera that they had decided to stay in Minsk by their own choosing. They included a Greek man who said he had been traveling to Vilnius on his way to visit his wife in Minsk.
In Lithuania, the police launched an investigation on suspicion of hijacking and kidnapping, and interviewed passengers and crew. They were told that the fighter jet dispatched by Mr. Lukashenko to escort the flight had not forced the Ryanair plane to land, according to people with knowledge of the investigation who were not authorized to speak publicly.
Instead, these people said, the pilot had decided to land the plane in Minsk after Belarusian air traffic control had requested that he do so because of a bomb threat on board.
other confessional videos that critics of Mr. Lukashenko have been forced to record while in jail.
an urgent meeting for Thursday to discuss it.
In recent years, Mr. Lukashenko had profited by playing the interests of Russia and the West off against one another. But amid last summer’s popular uprising against him over his disputed re-election, Mr. Lukashenko threw in his lot with Mr. Putin — and has relied on his support ever since.
Last year, the European Union sanctioned Belarus officials — including Mr. Lukashenko — over human rights abuses, to little apparent effect. The flight bans could have a greater impact, at least on regular people; the summer 2021 timetable of Belavia, Belarus’s national carrier, includes flights to 20 E.U. cities.
And some analysts said the restrictions could require costly rerouting for European airlines, which are already avoiding parts of Ukraine, Belarus’s southern neighbor, because of conflict with Russia.
The flight bans could cause new problems for Mr. Lukashenko inside his country, where the ease of travel to the neighboring European Union had long softened the strictures of living inside an authoritarian state. Ukraine, which is not a member of the E.U., also said it would ban flights to and from Belarus. The growing isolation means that Belarusians will increasingly need to travel east to Russia in order to get out of the country.
Yevgeny Lipkovich, a popular Minsk-based blogger and commentator critical of Mr. Lukashenko, said that his own travels abroad had allowed him to “remain an optimist, despite the regime’s best efforts to force me into depression.”
“If they close down the air loophole, there’s no question that the pressure inside the country will increase,” Mr. Lipkovich said. “And it’s disgusting to live in a pariah state.”
Reporting was contributed by Ivan Nechepurenko from Moscow; Tomas Dapkus from Vilnius, Lithuania; Stanley Reed from London; and Matina Stevis-Gridneff and Monika Pronczuk from Brussels.
MOSCOW — The strongman president of Belarus sent a fighter jet to intercept a European airliner traveling through the country’s airspace on Sunday and ordered the plane to land in the capital, Minsk, where a prominent opposition journalist aboard was then seized, provoking international outrage.
The stunning gambit by Aleksandr G. Lukashenko, a brutal and erratic leader who has clung to power despite huge protests against his government last year, drew disbelief among European leaders. But it also underscored that with the support of President Vladimir V. Putin of Russia, Mr. Lukashenko is prepared to go to extraordinary lengths to repress dissent.
The Ryanair flight from Athens to Vilnius, Lithuania, carrying some 170 passengers — among them the journalist, Roman Protasevich, 26 — was flying over Belarus when Belarusian air traffic controllers notified its pilots of “a potential security threat on board” and directed the plane to divert to Minsk, the Ireland-based airline said in a statement.
Mr. Lukashenko, often referred to as “Europe’s last dictator,” personally ordered a MiG-29 fighter jet to escort the Ryanair plane to the Minsk airport, his press service said. According to the statement, Mr. Lukashenko gave an “unequivocal order” to “make the plane do a U-turn and land.”
NEXTA Telegram channel, one of the most popular opposition outlets in Belarus, where most independent media organizations were forced to shut down following large-scale protests that convulsed the nation following a disputed presidential election in 2020.
Over the past few years, Mr. Protasevich has been living in Lithuania in exile, fearing imprisonment in Belarus, his home country, where he is accused of inciting hatred and mass disorder and faces more than 12 years in prison if convicted. In November, the country’s main security service, still called the K.G.B., put Mr. Protasevich on its list of terrorists.
Mr. Protasevich’s arrest demonstrated the lengths to which Mr. Lukashenko is ready to go in order to pursue his political opponents. Many of them have sought safe heaven in exile in Lithuania and Poland, but Sunday’s events showed that Mr. Lukashenko can reach them even in the air.
called it “abhorrent” in his Twitter account and demanded that the Belarusian authorities release Mr. Protasevich.
The Belarusian authorities said they took the action after receiving information about the bomb threat and did so even though Vilnius, the plane’s destination, was much closer than Minsk when it was forced down. Mr. Lukashenko and his government are known to use ruses to pursue their political opponents.
The country’s Defense Ministry said in another statement that the country’s air defense forces were put on high alert.
violence, Mr. Lukashenko managed to successfully crack down on protesters, with the country’s security apparatus remaining loyal to him.
Svetlana Tikhanovskaya, Mr. Lukashenko’s main opponent during the last presidential election in August, which was widely regarded as rigged, called the episode with the Ryanair flight “an operation by the special services to hijack an aircraft in order to detain activist and blogger Roman Protasevich.”
“Not a single person who flies over Belarus can be sure of his safety,” she said.
Matina Stevis-Gridneff contributed reporting from Brussels, and Niki Kitsantonis from Athens.
Boeing says it has received approval from U.S. aviation authorities for proposed fixes to an electrical problem that grounded a portion of its troubled 737 Max fleet for more than a month. The approval is welcome news for the handful of affected airlines in the United States, where the industry is preparing for a busy summer.
The 737 Max plane was initially grounded in March 2019 after a pair of crashes, separated by months, in Indonesia and Ethiopia. Last November, the Federal Aviation Administration cleared the fleet to fly again provided that Boeing and airlines updated the Max’s flight control software and rerouted some electrical wiring, among other changes.
In December, the plane carried paying passengers in the United States for the first time since the crashes. But last month, Boeing said it had notified 16 airlines and other customers of a potential electrical problem with the Max and recommended that they temporarily stop flying some planes.
Boeing and the F.A.A. said last month that the latest electrical issue was unrelated to the 2019 grounding directive.
said in a notice that the electrical power systems on a new 737 Max 8 airplane “did not perform as expected” during routine tests before it was delivered to an airline. It said the same issue affected certain models of the 737 Max 8 and the 737 Max 9.
Specifically, the notice, known as an airworthiness directive, said design changes to support panels in the Max’s flight deck, or cockpit, had resulted in “insufficient electrical grounding of installed equipment.”
The problem could have resulted in loss of critical functions and other problems on the flight deck, the notice said. It directed Boeing to send comments about proposed modifications by mid-June.
Boeing said in a brief statement on Wednesday that it had received final approval from the regulator for the proposed modifications and issued “service bulletins for the affected fleet.” Airline manufacturers typically issue service bulletins to notify a plane’s owner about a change or improvement in a component.
Boeing also said that airlines were preparing to return the affected jets to service and that it planned to resume deliveries of the plane. The company did not provide a timeline or further details.
reported earlier by The Wall Street Journal.
Boeing also appeared to make progress this week on another issue affecting a different model of plane, the 777. Dozens of 777 planes equipped with a Pratt & Whitney engine were grounded worldwide in February after one suffered an engine failure over Colorado. Video of the episode was startling, though the pilots landed the plane safely and no injuries were reported.
After that engine failure, the F.A.A. required that all fan blades in that type of engine be inspected. On Wednesday, the agency’s administrator, Steve Dickson, said the agency was also requiring that manufacturers strengthen the engine cowling, or housing. The “exact timing and requirements” of such a fix had not been determined, the agency said in a statement.
The 2019 crashes aboard the 737 Max killed 346 people and deeply damaged Boeing’s once-sterling reputation. The company later fired its chief executive and paid billions of dollars in fines, settlements and lost orders.
In January, Boeing agreed to pay more than $2.5 billion in a legal settlement with the Justice Department stemming from the 737 Max debacle. The agreement resolved a criminal charge that had centered on the actions of two employees who withheld information from the F.A.A. about changes made to software that was later implicated in both crashes.
Bake sales on Instagram. Online fund-raisers involving Hollywood celebrities. Pledges of aid from companies like Mastercard and Google. A middle-of-the-night flight by a FedExcargo plane transporting thousands of oxygen concentrators and masks.
India’s devastating surge in Covid-19 cases has galvanized corporations, nonprofit organizations and individuals in the United States into raising millions of dollars and sending medical supplies to the nation of 1.4 billion.
But a sweeping change to India’s decades-old law governing foreign donations is choking off foreign aid just when the country needs it desperately. The amendment, passed by the government of Prime Minister Narendra Modi in September with little warning, limits international charities that donate to local nonprofits.
The effect is far-reaching. Almost overnight, the amendment gutted a reliable source of funding for tens of thousands of nongovernmental organizations, or N.G.O.s, that were already stretched thin by the pandemic. It prompted international charities to cut back giving that supported local efforts — and supplemented the government’s work — in fields such as health, education and gender.
more than 22 million infections and over 236,000 deaths, but experts say the toll is severely undercounted. Medical oxygen is in short supply. Hospitals are turning away patients. Only a tiny fraction of the population has been vaccinated. Mr. Modi’s government has come under increasing criticism inside and outside the country over its handling of the second wave.
Nongovernmental organizations help provide basic health services in India, picking up the slack in a country where government spending in that area totals 1.2 percent of gross domestic product. The United States spends close to 18 percent on health care. When the pandemic first surged in India, in March 2020, Mr. Modi asked NGOs to help provide supplies and protective gear and to spread the message on social distancing.
At the same time, India’s relationship with NGOs — a catchall term for the roughly three million nonprofits working across the country, including religious, educational and advocacy groups — has occasionally been fraught.
about a quarter of India’s NGO funding — roughly $2.2 billion — came from foreign donors, according to Bain & Co., the consulting firm. The September amendment, which was met with a backlash from India’s vocal community of activists, changed the landscape drastically.
Understand the Covid Crisis in India
“It came into existence so quickly that there was not the kind of public input or eyes on it that could tell you why it came into existence,” said Ted Hart, the chief executive of Charities Aid Foundation of America, an Alexandria, Va., nonprofit. “It was a shock.”
transport supplies to India free of cost.
The Indian diaspora of about four million people in the United States has swung into action. Some have given money to online platforms such as GiveIndia that route money to Indian nonprofits set up to receive foreign contributions.
It took just a few days for Indiaspora, a nonprofit community of mainly Indian-American donors, to raised around $5 million, including $1.6 million through an online fund-raiser in Hollywood.
“The approach we’ve taken is that the house is burning,” said Indiaspora’s founder, M.R. Rangaswami, a Silicon Valley investor and entrepreneur who lost his sister to Covid-19 in India. But his group is stepping carefully in giving that money away. It decided to stick with a small group of well-established nonprofits to which to direct its funding.
“The way we’re handling our giving is that we’re making sure that the organizations are F.C.R.A. compliant,” Mr. Rangaswami said.
Nicholas Kulish and Karan Deep Singh contributed reporting.
The gap between executive compensation and average worker pay has been growing for decades. Chief executives of big companies now make, on average, 320 times as much as their typical worker, according to the Economic Policy Institute. In 1989, that ratio was 61 to 1.
The pandemic compounded these disparities, as hundreds of companies awarded their leaders pay packages worth significantly more than most Americans will make in their entire lives, David Gelles reports for The New York Times.
In the course of his reporting, corporate public relations teams employed various tactics to justify their bosses’ big paydays:
A Hilton spokesman stressed that the figure in its latest proxy filing did not represent take-home pay for Chris Nassetta, because the company restructured several stock awards. “Said directly, Chris did not take home $55.9 million in 2020,” the spokesman said. “Chris’s actual pay was closer to $20.1 million.” Hilton lost $720 million last year.
Boeing wanted to make clear how much money Dave Calhoun “voluntarily elected to forgo to support the company through the Covid-19 pandemic” — some $3.6 million, according to a spokesman. Nonetheless, Mr. Calhoun was awarded $21.1 million last year, while Boeing lost $12 billion.
Starbucks, which awarded Kevin Johnson $14.7 million, was among many companies making the case that their chief executive was essential to future success. “Continuity in Kevin’s role is particularly vital to Starbucks at this time,” said Mary Dillon, a member of the compensation committee. The company made a $930 million profit in its latest fiscal year, down three-quarters from the previous year.
The Times’s David Gelles gives DealBook the backstory to his recent front-page article about rising C.E.O. pay during the pandemic.
Companies battered by the pandemic are handing out enormous pay packages to their C.E.O.s, highlighting the sharp divides in a nation on the precipice of an economic boom, but still wracked by steep income inequality.
Executive compensation has, of course, been soaring for decades now. Chief executives of big companies in the U.S. now make, on average, 320 times as much as the typical worker. In 1989, that ratio was 61 to 1.
Read the full story here.
HERE’S WHAT’S HAPPENING
A deep split in pandemic fortunes highlights an uneven global recovery. On one hand: The E.U. could let vaccinated Americans visit this summer, bringing much-needed tourism revenue to the region. (One potential hangup is a rising number of people who aren’t getting their second doses.) On the other: India will receive emergency medical supplies from the U.S. as it reports half of all new Covid-19 cases worldwide.
Netflix had a big night at the Oscars. The streaming company won seven Academy Awards last night, the most of any studio, but again fell short in its quest to win Best Picture. (That went to Disney, whose Searchlight Pictures’ “Nomadland” won the big prize; Disney won five awards over all.) AT&T’s Warner Bros. won three Oscars, while Amazon took home two.
An activist investor steps up its challenge at Exxon Mobil. Engine No. 1 argues in a new presentation that the oil giant faces an “existential business risk” because it is not taking bolder steps to move away from fossil fuels, The Financial Times reports. (Exxon and other major producers are set to report earnings this week.)
Second Chance Business Coalition, which was announced today.
Elon Musk is hosting “S.N.L.” Yes, really. The Tesla chief is scheduled to host “Saturday Night Live” on May 8. (We bet S.E.C. officials will be watching.) John Authers of Bloomberg Opinion has an interesting take on it: The Tesla chief’s antics are doing more to encourage adoption of green technology than any amount of environmentalist scolding.
The ‘massive threat’ in a ‘measly’ Supreme Court case
Today the Supreme Court will hear a case that could upend American politics. It has largely escaped attention because it’s not obviously political at all. “Americans for Prosperity Foundation v. Rodriquez” involves a fight over California’s donor disclosure requirements for charities and “may seem like a measly spat over state nonprofit rules,” Senator Sheldon Whitehouse, Democrat of Rhode Island, told DealBook. “But a massive threat lurks within.”
Today in Business
Nonprofits want more donor anonymity. Americans for Prosperity Foundation is a “social welfare” nonprofit arguing that the right to anonymous assembly guaranteed by the First Amendment extends to donor data. Critics say that a ruling in favor of the Koch-funded charity would allow more untraceable money to flow through groups designed to mask the outsize role that a few wealthy players have in American politics. If A.F.P.F. wins, “special interests will have a free pass to rig our democracy from behind a veil of secrecy,” Whitehouse said.
Companies secretly influence politics with “dark money” donations that are deliberately opaque. Basically, some “social welfare” groups are quasi-political yet don’t have the same reporting requirements as explicitly political groups. Similarly, trade groups take corporate donations and pass them on, obscuring the sources.
“The importance of dark money in society, the scope of it, is something people don’t really grasp, but it impacts everyday life,” said Anna Massoglia, a researcher at the Center for Responsive Politics.
A decision is expected around late June. Notably, the court took the case on Jan. 8, two days after the Capitol riot prompted a reckoning over corporate political donations. Both the Chamber of Commerce and the National Association of Manufacturers filed briefs supporting A.F.P.F.’s case for anonymity, and Allen Dickerson of the Federal Election Commission argued the same in a Wall Street Journal op-ed yesterday.
cottage industry of scammers.
Bain is buying $1 billion worth of desserts
Bain Capital Private Equity is buying Dessert Holdings in a deal that DealBook hears values the company at about $1 billion.
Dessert Holdings makes “Insta-worthy” cheesecakes and other desserts through three brands: The Original Cakerie, Lawler’s Desserts and Atlanta Cheesecake. The company, which sells to retailers and restaurants, was created through acquisitions led by its prior owner, Gryphon Investors. The dessert conglomerate emphasizes the “wow factor” of products like tuxedo truffle mousse cake that are made to look good on social media.
A sweet deal? In-store bakeries have held up well during the pandemic, while restaurants are expected to rebound post-Covid. There could be more consolidation in the industry, with George Weston announcing in March it plans to put its bakery business — which includes Wonder Bread in Canada — up for sale. Over the years, Bain has invested in a number of food service and restaurant brands, like Dunkin’ and Domino’s Pizza. It plans to develop “new and innovative products” as well as pursue more acquisitions after the Dessert Holdings deal, said Adam Nebesar, a managing director at the private equity firm.
Trevor Lawrence is getting paid in Bitcoin
As cryptocurrency goes more mainstream — thanks in part to the recent public listing of Coinbase — blockchain businesses are hustling for brand recognition. “We’re really trying to get our name out a lot,” said Sam Bankman-Fried, the C.E.O. of FTX, a crypto exchange that competes with Coinbase. One of FTX’s companies, the investment app Blockfolio, has signed an endorsement deal with Trevor Lawrence, the former Clemson quarterback and presumptive number-one pick in this week’s N.F.L. draft, DealBook is first to report.
29-year-old billionaire founded FTX in 2019, and said he regrets spending his early years “playing video games.” Now, he’s trying to make up for lost time and the “low name recognition” of his crypto brands by hitching their wagon to bigger brands. FTX recently agreed to pay $135 million for the naming rights to the N.B.A.’s Miami Heat arena for 19 years.
THE SPEED READ
ByteDance, the Chinese parent of TikTok, has reportedly delayed plans to go public because it hasn’t devised a corporate structure that would win approval from Washington and Beijing. (South China Morning Post)
A close look at the efforts by the Carlyle Group’s C.E.O., Kewsong Lee, to catch up to his private equity rivals. (WSJ)
Politics and policy
The law firm Jones Day has rehired at least seven lawyers who worked in the Trump administration, cementing its status as a top outpost for Republican legal experts. (FT)
Advisers to wealthy Americans are studying various strategies to minimize the hit from the Biden administration’s proposed tax hikes. (Bloomberg)
Ant Group, the Chinese fintech giant, reportedly plans to offer employees zero-interest loans backed by their stock options to bolster morale. (Bloomberg)
The culture of Travis Kalanick’s food-delivery start-up, CloudKitchens, is said to closely resemble the “bro-y” early days of Uber — and it’s losing workers as a result. (Insider)
Best of the rest
Honda said it expects all cars it sells will be electric by 2040. (Bloomberg)
One of the men who created the “Yale model” of endowment investing says the strategy is past its prime. (FT)
An eye-opening look inside the “slander industry.” (NYT)
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With those words, the four members of the Crew-2 Dragon Endeavour began floating one by one into the International Space Station on Saturday morning, about 24 hours after their capsule lifted off from the Kennedy Space Center in Florida.
The Dragon Endeavour docked onto the space station shortly after 5 a.m., according to Space X, the company run by Elon Musk that built the spacecraft.
Waiting to greet the crew were seven astronauts who beamed and hugged each of the new arrivals as they slowly made their way through a hatch and into the station.
“Their arrival means there are now 11 humans aboard our orbiting laboratory, a number not seen since the space shuttle era,” NASA said on Twitter.
according to NASA.
The journey to the station was relatively smooth, though at one point the crew was warned that a piece of space debris was going to whiz past the capsule at about 1:43 p.m. Eastern time on Friday.
The astronauts were told to put on their spacesuits, get back in their seats and lower their protective visors. The debris was not immediately identified. NASA said the debris ended up passing about 28 miles from the capsule, a safe distance, and that the spacecraft was not at risk.
The crew will remain with three other astronauts: Mark Vande Hei of NASA, and two Russians, Oleg Novitskiy and Pyotr Dubrov, all of whom arrived at the station on April 9.
The four members of Crew-1, who arrived in November on the Dragon Resilience, will spend five days with Crew-2 before returning to Earth.
Douglas G. Hurley and Robert L. Behnken, who is married to Ms. McArthur — to the space station for a test flight to work out any remaining glitches in the systems.
Earlier this month, NASA awarded SpaceX a $2.9 billion contract to develop a giant rocket called Starship, which the company said will one day take people to Mars. Its first mission, however, will be to drop off NASA astronauts on the moon.