Disney and ad-tech firms agree to privacy changes for children’s apps.

In legal settlements that could reshape the children’s app market, Disney, Viacom and 10 advertising technology firms have agreed to remove certain advertising software from children’s apps to address accusations that they violated the privacy of millions of youngsters.

The agreements resolve three related class-action cases involving some of the largest ad-tech companies — including Twitter’s MoPub — and some of the most popular children’s apps — including “Subway Surfers,” an animated game from Denmark that users worldwide have installed more than 1.5 billion times, according to Sensor Tower, an app research firm.

The lawsuits accused the companies of placing tracking software in popular children’s gaming apps without parents’ knowledge or consent, in violation of state privacy and fair business practice laws. Such trackers can be used to profile children across apps and devices, target them with ads and push them to make in-app purchases, according to legal filings in the case.

Now, under the settlements approved on Monday by a judge in the U.S. District Court for the Northern District of California, the companies have agreed to remove or disable tracking software that could be used to target children with ads. Developers will still be able to show contextual ads based on an app’s content.

cases against individual developers and ad-tech firms. But children’s advocates said the class-action cases, which involved a much larger swath of the app and ad tech marketplace, could prompt industrywide changes for apps and ads aimed at young people.

Viacom, whose settlement covers one of its children’s apps, called “Llama Spit Spit,” Kiloo, a Danish company that codeveloped “Subway Surfers,” and Twitter declined to comment. Disney, whose settlement agreement covers its children’s apps in the United States, did not immediately response to emails seeking comment.

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Baseball Card Maker Topps Is Going Public via a SPAC

Topps, known for its trading cards and Bazooka gum, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion, the DealBook newsletter was the first to report.

The transaction includes an investment of $250 million led by Mudrick Capital, the sponsor of the special purpose acquisition company, or SPAC, along with investors including Gamco and Wells Capital. Michael Eisner, the chairman of Topps and former chief executive of the Walt Disney Company, will roll his entire stake into the new company and stay on.

“Everybody has a story about Topps,” Mr. Eisner said. That’s what initially attracted him to the trading card company, which he acquired in 2007 via his investment firm, Tornante, and Madison Dearborn for $385 million. Buying Topps was a bet on a brand that elicits an “emotional connection” as strong as Disney, the company Mr. Eisner ran for 21 years.

In the years since Mr. Eisner’s initial purchase, Topps has focused on a shift to digital, starting online apps for users to trade collectibles and play games. It also created “Topps Now,” which makes of-the-moment cards to capture a defining play or a pop culture meme. (It sold nearly 100,000 cards featuring Senator Bernie Sanders at the presidential inauguration in his mittens.) And it has moved into blockchain, too, via the craze for nonfungible tokens, or NFTs.

especially trading cards. Topps generated record sales of $567 million in 2020, a 23 percent jump over the previous year.

The secondhand market is particularly hot, with a Mickey Mantle card recently selling for more than $5 million. “Topps probably made something like a nickel on it, 70 years ago,” said Jason Mudrick, the founder of Mudrick Capital. NFT mania will allow Topps to take advantage of the secondhand market by linking collectibles to digital tokens. Topps is also growing beyond sports, like its partnerships with Marvel and “Star Wars.”

It continues to see value in its core baseball-card business, as athletes come up from the minor leagues more quickly. “The trading card business has been growing for the last several years,” Michael Brandstaedter, the chief executive of Topps, said. “While it definitely grew through the pandemic — and perhaps accelerated — it did not arrive with the pandemic.”

That resilience is part of the bet that Mudrick Capital is making on the 80-year old Topps. It’s a surer gamble, Mr. Mudrick said, than buying one of the many unprofitable start-ups currently courting SPAC deals. “Our core business is value investing,” he said.

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Global Economy Expected to Grow 6% This Year, I.M.F. Says: Live Updates

World Economic Outlook report.

The emergence from the crisis is being led by the wealthiest countries, particularly the United States, where the economy is now projected to expand by 6.4 percent this year. The euro area is expected to expand by 4.4 percent and Japan is forecast to expand by 3.3 percent, according to the I.M.F.

Among the emerging market and developing economies, China and India are expected to lead the way. China’s economy is projected to expand by 8.4 percent and India’s is expected to expand by 12.5 percent.

Ms. Gopinath credited the robust fiscal support that the largest economies have provided for the improved outlook and pointed to the relief effort enacted by the United States. The I.M.F. estimates that the economic fallout from the pandemic could have been three times worse if not for the $16 trillion of worldwide fiscal support.

Despite the rosier outlook, Ms. Gopinath said that the global economy still faced “daunting” challenges.

Low-income countries are facing bigger losses in economic output than advanced economies, reversing gains in poverty reduction. And within advanced economies, low-skilled workers have been hit the hardest and those who lost jobs could find it difficult to replace them.

“Because the crisis has accelerated the transformative forces of digitalization and automation, many of the jobs lost are unlikely to return, requiring worker reallocation across sectors — which often comes with severe earnings penalties,” Ms. Gopinath said.

The I.M.F. cautioned that its projections hinged on the deployment of vaccines and the spread of variants of the virus, which could pose both a public health and economic threat. The fund is also keeping a close eye on interest rates in the United States, which remain at rock-bottom levels but could pose financial risks if the Federal Reserve raises them unexpectedly.

The global economy is on firmer ground one year into the pandemic thanks to the rollout of vaccines, the International Monetary Fund said on Tuesday. But the recovery will be uneven around the world because of persistent inequality and income gaps.

“Emerging market and developing economies are expected to suffer more scarring than advanced economies,” the I.M.F. said in its World Economic Outlook report, which projected 6 percent global growth in 2021. Here are projections for the growth of some individual countries:

  • The United States economy will expand 6.4 percent this year, after contracting 3.5 percent the year before, while Britain will grow 5.3 percent this year, after shrinking 9.9 percent in 2020.

  • China, the world’s second-largest economy after the United States, is expected to grow 8.4 percent this year, after expanding 2.3 percent in 2020.

  • India’s economy is expected to see the biggest jump among major economies and climb 12.5 percent this year, after contracting 8 percent last year.

Mickey Mantle’s 1952 Topps rookie card is one of the most sought-after cards. While a Mantle with a rating of SGC 7 like this one is valuable, a version of the same card rated PSA Mint 9 recently sold for $5.2 million.
Credit…Jeenah Moon for The New York Times

Topps, known for its trading cards and Bazooka gum, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion, the DealBook newsletter was the first to report.

The transaction includes an investment of $250 million led by Mudrick Capital, the sponsor of the special purpose acquisition company, or SPAC, along with investors including Gamco and Wells Capital. Michael Eisner, the chairman of Topps and former chief executive of the Walt Disney Company, will roll his entire stake into the new company and stay on.

“Everybody has a story about Topps,” Mr. Eisner said. That’s what initially attracted him to the trading card company, which he acquired in 2007 via his investment firm, Tornante, and Madison Dearborn for $385 million. Buying Topps was a bet on a brand that elicits an “emotional connection” as strong as Disney, the company Mr. Eisner ran for 21 years.

In the years since Mr. Eisner’s initial purchase, Topps has focused on a shift to digital, starting online apps for users to trade collectibles and play games. It also created “Topps Now,” which makes of-the-moment cards to capture a defining play or a pop culture meme. (It sold nearly 100,000 cards featuring Bernie Sanders at the presidential inauguration in his mittens.) And it has moved into blockchain, too, via the craze for nonfungible tokens, or NFTs.

The pandemic has driven new interest in memorabilia, especially trading cards. Topps generated record sales of $567 million in 2020, a 23 percent jump over the previous year.

The secondhand market is particularly hot, with a Mickey Mantle card recently selling for more than $5 million. “Topps probably made something like a nickel on it, 70 years ago,” said Jason Mudrick, the founder of Mudrick Capital. NFT mania will allow Topps to take advantage of the secondhand market by linking collectibles to digital tokens. Topps is also growing beyond sports, like its partnerships with Marvel and “Star Wars.”

It continues to see value in its core baseball-card business, as athletes come up from the minor leagues more quickly. “The trading card business has been growing for the last several years,” Michael Brandstaedter, the chief executive of Topps, said. “While it definitely grew through the pandemic — and perhaps accelerated — it did not arrive with the pandemic.”

That resilience is part of the bet that Mudrick Capital is making on the 80-year old Topps. It’s a surer gamble, Mr. Mudrick said, than buying one of the many unprofitable start-ups currently courting SPAC deals. “Our core business is value investing,” he said.

United Airlines is the first major U.S. carrier to run its own pilot academy.
Credit…Chris Helgren/Reuters

United Airlines said on Tuesday that it had started accepting applications to its new pilot school, promising to use scholarships, loans and partnerships to help diversify a profession that is overwhelmingly white and male.

The airline said it planned to train 5,000 pilots at the school by 2030, with a goal of half of those students being women or people of color. The school, United Aviate Academy in Phoenix, expects to enroll 100 students this year, and United and its credit card partner, JPMorgan Chase, are each committing $1.2 million in scholarships.

About 94 percent of aircraft pilots and flight engineers are white and about as many are male, according to federal data. United said 7 percent of its pilots were women and 13 percent were not white.

Airlines have had more employees than they needed during the pandemic, when demand for tickets fell sharply, and they have encouraged thousands, including many pilots, to retire early or take voluntary leaves. Since September, nearly 1,000 United pilots had retired or taken leave. Last week, the airline said it would start hiring pilots again after stopping last year.

But the industry is facing a long-term shortage of pilots because many are nearing retirement age and many potential candidates are daunted by the cost of training, which can reach almost $100,000 after accounting for the cost of flight lessons.

United is the first major U.S. carrier to run its own pilot academy, although many foreign airlines have run such programs for years. The company said it hoped the guarantee of a job after graduation would be a draw. In addition to the 5,000 pilots it plans to train, United said it would hire just as many who learned to fly elsewhere.

United Aviate is meant for people with a wide range of experience, from novices who have never flown to pilots who are already flying for one of United’s regional partners. A student with no flying experience could become a licensed pilot within two months and be flying planes for a living after receiving a commercial pilot license within a year, the airline said. Within five years, that person could fly for United after a stint at a smaller airline affiliate to gain experience.

The airline said it was also working with three historically Black colleges and universities — Delaware State University, Elizabeth City State University and Hampton University — for recruitment. The first class of 20 students is expected to start this summer.

Air France is considered too big to fail in its home country, but the company’s debt has ballooned during the pandemic.
Credit…Christian Hartmann/Reuters

Air France on Tuesday said it would receive a new bailout from the French government worth 4 billion euros ($4.7 billion) to help the beleaguered airline cope with mounting debts as a third wave of pandemic lockdowns around Europe prolong a slump in continental air travel.

The support comes on top of €10.4 billion ($12.3 billion) in loans and guarantees that Air France and its partner, the Netherlands-based KLM, received from the French and Dutch governments last year.

Air France-KLM chief executive, Benjamin Smith, citing an “exceptionally challenging period,” said the funds would “provide Air France-KLM with greater stability to move forward when recovery starts, as large-scale vaccination progresses around the world and borders reopen.”

Bruno Le Maire, France’s finance minister, said Tuesday that the new aid is taking the form of a state-backed recapitalization, which involves converting €3 billion in loans the government granted the airline last year into bonds with no maturity, as well as €1 billion in fresh capital through the issuance of new shares.

The French government is the airline’s largest shareholder, at 14.3 percent. The agreement could allow the government to raise its stake as high as 30 percent, Mr. Le Maire and Air France said, by buying some of the new shares. China Eastern Airlines, also a large shareholder, will also participate, Air France said.

Air France-KLM lost two-thirds of its customers last year, and its debt has nearly doubled to €11 billion. It expects an operating loss of €1.3 billion in the first quarter.

As vaccinations speed ahead in the United States, air travel has started to recover, fueling a return of ticket sales. Delta Air Lines announced it would add more passengers and start selling middle seats for flights starting May 1.

By contrast, Europe’s vaccine rollout has faltered and variants of the virus have gained ground, prompting renewed travel restrictions. That has left major flagship air carriers, including Air France-KLM, Lufthansa of Germany, and Alitalia of Italy, struggling.

The French government recently cut its economic growth forecast for 2021 to 5 percent, down from 6 percent.

Air France’s board approved the deal on Tuesday after the French government and European regulators agreed on the terms.

The Dutch government is holding separate talks with European regulators over converting a €1 billion loan to KLM into hybrid debt in return for slot concessions at the Schiphol Airport in Amsterdam.

Air France employs tens of thousands of workers in France and is considered too big to fail. Still, Mr. Le Maire said the aid was not a “blank check,” adding that the company would have to “make efforts on competitiveness” in exchange for the support and must continue to reduce its carbon emissions.

To conform to European competition rules, Air France was forced to relinquish 18 slots per day, representing nine round-trips, to competing airlines at Orly, Paris’ second-largest airport after Charles de Gaulle.

Credit Suisse’s offices in Zurich. The bank said it would hire outside experts to investigate what led to losses tied to its involvement with Archegos Capital Management and Greensill Capital.
Credit…Arnd Wiegmann/Reuters

Credit Suisse said Tuesday it would replace the head of its investment bank and the chief of risk and compliance after losses from its involvement with Archegos Capital Management, the collapsed hedge fund, totaled nearly $5 billion.

The bank, which is based in Zurich, is in turmoil after a series of disasters that have battered its reputation and are likely to diminish its global clout. Credit Suisse also serves as a warning of the risks that may lurk in the financial system, as bankers and investors try to earn returns when interest rates are at rock bottom and stock values are already frothy.

Credit Suisse detailed the financial impact of its dealings with Archegos for the first time on Tuesday, saying it would report a loss for the first quarter of 900 million Swiss francs after booking a charge of 4.4 billion francs, or $4.7 billion, related to the hedge fund. The losses were higher than some estimates.

Brian Chin, the chief executive of Credit Suisse’s investment bank, will leave on April 30. Lara Warner, the chief risk and compliance officer, will step down immediately, the bank said.

Members of Credit Suisse’s executive board will forgo their bonuses for 2020 and 2021, the bank said. Credit Suisse will also cancel plans to buy back its own shares, a way of pushing up the stock price. But the bank, seeking to dispel any questions about its overall health, said its capital was still at levels considered acceptable.

Credit Suisse shares were down more than 2 percent in Zurich trading early Tuesday. They have lost one-quarter of their value since the beginning of March.

Thomas Gottstein, the chief executive of Credit Suisse since last year, said the bank would hire outside experts to investigate what led to the “unacceptable” loss from Archegos as well as the bank’s involvement with Greensill Capital, which collapsed last month.

Credit Suisse’s asset management unit oversaw $10 billion in funds that Greensill packaged based on financing it provided to companies, many of which had low credit ratings.

“Serious lessons will be learned,” Mr. Gottstein said.

Tucson is building on a five-year growth plan that predated the pandemic. “We’re working together as a region,” Mayor Regina Romero said.
Credit…Rebecca Noble for The New York Times

Some midsize cities — like Austin, Texas; Boise, Idaho; and Portland, Ore. — may be poised to rebound faster than others because they have developed strong relationships with their local economic development groups.

These partnerships have established comeback plans that incorporate a number of common goals, like access to affordable loans, relief for small businesses and a focus on downtown areas, Keith Schneider reports for The New York Times.

In Tucson, the revitalization plan, which goes into effect this month, calls for assessing the effect of the pandemic on important business sectors, including biotech and logistics. Other provisions advocate recruiting talented workers and preparing so-called shovel-ready building sites of 50 acres or more.

City leaders are building on a five-year, $23 billion growth plan in industrial and logistics development in the Tucson region that resulted in 16,000 new jobs before the pandemic, according to Sun Corridor, the regional economic development agency that sponsored the recovery plan. Caterpillar and Amazon moved into the region, while Raytheon, Bombardier and GEICO were among the many prominent companies that expanded operations there.

Other cities are struggling to recover after pandemic restrictions emptied their central business districts. The question is how much these downtowns will bounce back when the pandemic ends.

“The number of square feet per worker has declined really dramatically since 1990,” said Tracy Hadden Loh, a fellow at the Brookings Institution. Couple that with recent announcements from companies like Google, Microsoft, Target and Twitter about remote work, and some cities could see less office construction activity.

A Starbucks cafe in Seoul.
Credit…Ed Jones/Agence France-Presse — Getty Images

Starbucks says it plans to eliminate all single-use cups from its South Korean stores by 2025, the chain’s first move of this sort as it seeks to reduce its carbon footprint.

The coffeehouse chain plans to introduce a “cup circularity program” in some stores beginning this summer, in which customers would pay a deposit for reusable cups that would be refunded when the containers are returned and scanned at contactless kiosks, the company said in a statement on Monday. The arrangement will be expanded to cafes across the country over the next four years.

“Starbucks Coffee Korea is a leader in sustainability for the company globally, and we are excited to leverage the learnings from this initiative to drive meaningful change in our stores and inform future innovation on a regional and global scale,” Sara Trilling, the president of Starbucks Asia Pacific, said in the statement.

South Korea has in recent years tried to cut back on disposable waste in cafes, banning the use of plastic cups for dine-in customers in 2018. Legislation introduced last year would require fast food and coffee chains to charge refundable deposits for disposable cups to encourage returns and recycling. Last year, the environmental ministry said it planned to reduce the country’s plastic waste by one-fifth by 2025.

The increased use of plastic packaging and containers amid the coronavirus pandemic has been a setback for initiatives aimed at reducing single-use plastic waste. In March 2020, Starbucks and other chains said they would no longer offer drinks in washable mugs or customer-owned cups to help prevent the spread of the virus.

Investors have been focused on the Biden administration’s infrastructure spending plan, which includes money to encourage investment in renewable energy, including wind turbines.
Credit…Mike Blake/Reuters

U.S. stocks dipped on Tuesday, a day after Wall Street’s major benchmarks climbed to records.

The S&P 500 climbed above 4,000 points last week for the first time amid signs that the economic recovery was strengthening, with manufacturing activity quickening and the biggest jump in jobs since the summer. The United States is administering three million vaccines per day on average, but the number of coronavirus cases has started to tick up again because of the spread of new variants.

That said, many investors have focused on the vaccine rollout and the potential impact of the Biden administration’s large spending plans, including the $2 trillion American Jobs Plan, intended to upgrade the nation’s infrastructure and speed up the shift to a green economy.

“Investors should not fear entering the market at all-time highs,” strategists at UBS Global Wealth Management said in a note on Tuesday, recommending stocks in the financial, industrial and energy sectors. The reopening of economies because of the vaccine rollout also favored small and medium-size companies, they wrote.

The Stoxx Europe 600 index rose 0.7 percent to a record in its first day of trading since Thursday because of the long Easter weekend. In Britain, mining companies led the FTSE 100 higher, which was up 1.2 percent. The DAX in Germany rose 0.9 percent

Asian stock indexes were mixed. The Hang Seng in Hong Kong rose 2 percent and the Nikkei 225 fell 1.3 percent.

The yield on 10-year Treasury notes slipped to about 1.69 percent.

Oil prices rose. West Texas Intermediate, the U.S. crude benchmark, rose 2 percent to just below $60 a barrel.

  • Disney Cruise Line will suspend departures through June after reviewing guidance from the Centers for Disease Control and Prevention, the company said Tuesday on its website. The C.D.C. recommends that people avoid travel on cruises worldwide because of the high risk of contracting the coronavirus aboard ship. The cruise line also canceled sailings in Europe through Sept. 18. Guests who have paid their reservations in full can choose either a credit with Disney Cruise Line for a future sailing or a full refund.

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The Lawyer Behind the Throne at Fox

LOS ANGELES — In early 2019, as the Murdoch family completed the $71 billion sale of 21st Century Fox to Disney, executives at the movie studio learned that someone was reading all their emails.

And not just anyone: Viet Dinh, the Fox Corporation’s chief legal officer and close friend of Fox’s chief executive, Lachlan Murdoch, had brought on a team of lawyers to investigatethe potential improper use of Fox data” by top 21st Century Fox executives he suspected of leaking to Disney while the terms were still being hammered out, a Fox spokeswoman said. The studio’s president, Peter Rice, and the company’s general counsel, Gerson Zweifach, protested that they were merely conducting normal transition planning — and that Mr. Dinh was being so paranoid he might blow up the transaction.

The episode didn’t scuttle the deal. But the previously unreported conflict between the studio executives and Mr. Dinh, a sociable and relentless Republican lawyer who was the chief architect in 2001 of the antiterrorism legislation known as the Patriot Act, offers a rare glimpse into the opaque power structure of Rupert Murdoch’s world. The nonagenarian mogul exercises immense power, through News Corp and the Fox Corporation, in driving a global wave of right-wing populism. But basic elements of how his media companies run remain shrouded in mystery.

In the case of the Fox Corporation, the questions of who is in charge and what the future holds are particularly hazy. The company, minus its studio, is now a midsize TV company adrift in a landscape of giants like Disney and AT&T that control everything from cellular phone networks to streaming platforms, film and television. Fox’s profits are dominated by Fox News. Lachlan Murdoch’s more liberal brother, James, who no longer holds an operational role in the family businesses, has made clear he’d like to see a change.

complained to The Financial Times about “outlets that propagate lies to their audience.”

Last month, Lachlan Murdoch moved his family to Sydney, Australia, an unlikely base for a company whose main assets are American. The move has intensified the perception — heightened when he stood by as Fox News hosts misinformed their audience about Covid-19 last year — that Mr. Murdoch does not have a tight grip on the reins. The company takes pains to rebut that perception: The Fox spokeswoman told me that Mr. Murdoch is so committed that he has adopted a nocturnal lifestyle, working midnight to 10 a.m. Sydney time. (She also said it would be “false and malicious” to suggest that Mr. Dinh is exercising operational control over Fox’s business units.) It’s such a disorienting situation that one senior Fox employee went so far as to call me last week to ask if I knew anything about succession plans. I promised I’d tell him if I figured it out.

But Mr. Dinh, 53, was ready to step in, and indeed has been seen internally as the company’s power center since before Mr. Murdoch headed across the globe. Mr. Dinh’s ascent caps an unlikely turn in his career that began when he met Lachlan Murdoch at an Aspen Institute event in 2003. The Murdoch heir later asked him to both fill a seat on the company’s board and to be godfather to his son. (“He couldn’t find any other Catholics,” Mr. Dinh joked to The New York Observer in 2006.)

Two former Fox employees and one current and one former Fox News employee familiar with his role painted him as the omnipresent and decisive right hand of a chief executive who is not particularly hands-on. (They spoke only on the condition they not be named because Fox keeps a tight grip on its public relations.) While Mr. Dinh is not running day-to-day programming, he manages the political operation of a company that is the central pillar of Republican politics, and he’s a key voice on corporate strategy who has played a role in Fox’s drive to acquire and partner its way into the global online gambling industry.

In a recent interview with the legal writer David Lat — headlined “Is Viet Dinh the Most Powerful Lawyer in America?” — Mr. Dinh called suggestions in this column and in The Financial Times that he’s more than a humble in-house counsel “flat-out false.”

once told VietLife magazine that he worked jobs including “cleaning toilets, busing tables, pumping gas, picking berries, fixing cars” to help his family make ends meet. He attended Harvard and Harvard Law School. As a student, he wrote a powerful Times Op-Ed about Vietnamese refugees — including his sister and nephew — stranded in Hong Kong. The piece helped win them refugee status, and eventually allowed them to immigrate to the United States.

Mr. Dinh arrived with the conservative politics of many refugees from Communism, and followed a pipeline from a Supreme Court clerkship with Sandra Day O’Connor to a role in the congressional investigations of Bill Clinton in the 1990s.

He was assistant attorney general for legal policy on 9/11, and he was “the fifth likeliest person” to wind up quarterbacking what would become the Patriot Act, said his old friend and colleague Paul Clement, who currently represents Fox in defamation lawsuits brought by two election technology companies. Mr. Dinh “led the effort to pull it all together, package it, present it to the Hill and get it passed,” said a former Bush White House homeland security adviser, Ken Wainstein. The package of legislation transformed the American security state, vastly expanding domestic surveillance and law enforcement powers. It allowed the F.B.I. to conduct secret and intrusive investigations of people and groups swept in by an expanded definition of terrorism.

Mr. Dinh was often mentioned at the time as a brilliant young lawyer who could easily wind up the first Asian-American on the Supreme Court. He was also notably image-conscious, and “worked the media like crazy,” recalled Jill Abramson, a former Times Washington bureau chief and later executive editor. He’s also a master Washington networker whose relationships cross party lines. His best college friend is a Democratic former U.S. attorney, Preet Bharara. Through the pandemic, Mr. Dinh left chipper comments on other lawyers’ job announcements on LinkedIn.

hiring a top Republican opposition researcher, Raj Shah, to monitor online criticism of the company and develop strategies for countering it.

Now, Mr. Dinh finds himself in the strange position of many of Rupert Murdoch’s top lieutenants: He is paid like a chief executive, and fills much of the larger strategic role that comes with that job. He also has the sort of leverage you need in a family business, a personal relationship with Lachlan Murdoch that allowed him to take on Mr. Rice, who is himself the son of a close Rupert Murdoch ally. But Mr. Dinh is still working for a business dominated by the need to follow Mr. Trump and Fox’s audience wherever they lead, lest they be overtaken by networks further to the right, like Newsmax. And the family ultimately retains control.

And Mr. Dinh’s own agenda can be hard to divine. In the interview with Mr. Lat, he largely repeated Fox News talking points about the quality and fairness of the network’s coverage. He did also express pride at Fox’s fleeting willingness to cross the president last fall, even though the network subsequently fired the political analysts who most angered Mr. Trump.

“There is no better historical record of Fox News’s excellent journalism than to see how the former president tweeted against Fox,” Mr. Dinh said.

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Corporations, Vocal About Racial Justice, Go Quiet on Voting Rights

As Black Lives Matter protesters filled the streets last summer, many of the country’s largest corporations expressed solidarity and pledged support for racial justice. But now, with lawmakers around the country advancing restrictive voting rights bills that would have a disproportionate impact on Black voters, corporate America has gone quiet.

Last week, as Georgia Republicans rushed to pass a sweeping law restricting voter access, Atlanta’s biggest corporations, including Delta, Coca-Cola and Home Depot, declined to weigh in, offering only broad support for voting rights. The muted response — coming from companies that last year promised to support social justice — infuriated activists, who are now calling for boycotts.

“We are all frustrated with these companies that claim that they are standing with the Black community around racial justice and racial equality,” said LaTosha Brown, a co-founder of Black Voters Matter. “This shows that they lack a real commitment to racial equity. They are complicit in their silence.”

On Thursday, hours after the Georgia voting restrictions were signed into law, Ms. Brown joined protesters at the Atlanta airport calling for a boycott of Delta, Georgia’s largest employer. In front of the Delta terminal, they lobbied for employees to pressure their employer and urged the airline’s chief executive, Ed Bastian, to use his clout to sway the debate.

said the company would “invest our resources to advance social justice causes” and “use the voices of our brands to weigh in on important social conversations.”

But last week, rather than take a position on the then-pending legislation, Coca-Cola said it was aligned with local chambers of commerce, which were diplomatically calling on legislators to maximize voter participation while avoiding any pointed criticisms.

said. “Now, when they try to pass this racist legislation, we can’t get him to say anything. And our position is, if you can’t stand with us now, you don’t need our money, you don’t need our support.”

Senator Raphael Warnock of Georgia, a Black pastor who was elected in January, called out companies for their muted responses in an interview with CNN on Sunday.

“I’ve seen these corporations falling over themselves every year around the time of the King holiday, celebrating Dr. King,” Senator Warnock said. “The way to celebrate Dr. King is to stand up for what he represented: voting rights.”

Corporate America’s guarded approach to the partisan issue of voting rights stands in stark contrast to its engagement with other social and political issues in recent years. When legislatures advanced “bathroom bills” that would have discriminated against people who are transgender, many big companies threatened to pull out of states like Indiana, Georgia and Texas.

And over the past four years, many big companies spoke out against President Donald J. Trump on issues including climate change, immigration and white supremacy.

“It’s not as though corporations are unwilling to speak powerfully about social justice issues,” said Sherrilyn Ifill, the president and director-counsel of the NAACP Legal Defense and Educational Fund Inc. “It seems to me perfectly legitimate for Black voters in Georgia to expect them to speak just as powerfully and directly about what is an unwarranted attack on the ability of Black voters to participate in the political process.”

on Twitter. Criticizing an early version of the Georgia bill, it added: “Georgia H.B. 531 would limit trustworthy, safe & equal access to voting by restricting early voting & eliminating provisional ballots. That’s why Salesforce opposes H.B. 531 as it stands.”

Patagonia, which has worked to increase voter participation, condemned the new bills and called on other companies to get more involved.

“Our democracy is under attack by a new wave of Jim Crow bills that seek to restrict the right to vote,” Ryan Gellert, the chief executive of Patagonia, said in a statement. “It is urgent that businesses across the country take a stand — and use their brands as a force for good in support of our democracy.”

Those were the exceptions. For the most part, big companies declined to comment on the Georgia legislation as it came together. Even chief executives who have made names for themselves by championing diversity chose not to get involved. Tim Ryan, the senior partner at PwC and a founder of CEO Action for Diversity & Inclusion, declined to comment for this article.

“The voice of individual leaders is oddly muted,” said Jeffrey Sonnenfeld, a professor at the Yale School of Management who regularly gathers chief executives to talk about controversial issues. “For the most part, they are not yet taking the same courageous stands they have taken on election ballot counting and the election results this fall, let alone on immigration, gun safety and the infamous bathroom bills.”

After four years of responding to the often extreme policies of the Trump administration, many companies are seeking to stay out of political fights.

And the voting bills are being driven by mainstream Republican lawmakers, rather than lesser-known right-wing figures. Companies that take a stand might have a harder time currying favor with those lawmakers on other issues down the line.

“This is not the fringe members trying to push bathroom bills,” said Lauren Groh-Wargo, the chief executive of Fair Fight, a voter-rights group founded by Stacey Abrams. “This is a priority for the party at the national level. For companies to speak out and work against these bills is very different.”

Ms. Ifill of the NAACP Legal Defense and Educational Fund said there was another factor at play as well: race. “Why is it that corporations that could speak so powerfully and unequivocally in opposition to discrimination against the L.G.B.T.Q. community and immigrants are not speaking as clearly about the disenfranchisement of Black people?” she said. “It’s the same thing. This is a race issue.”

Companies have effectively squashed bills at the state level before. In 2016, when lawmakers were advancing the bathroom bills, major corporations said they would move jobs out of states that adopted such measures. Responding to one such bill in Georgia in 2016, the Walt Disney Company said, “We will plan to take our business elsewhere should any legislation allowing discriminatory practices be signed into state law.”

The tactic was effective. Many of those bills were tabled as lawmakers responded to the threats of lost business.

This time around, however, the entertainment industry has taken a more guarded approach.

When asked for comment, Disney, Netflix, NBCUniversal, Sony Pictures Entertainment and ViacomCBS either said they had no public comment or did not respond to queries. The Motion Picture Association, Hollywood’s lobbying organization, declined to comment, as did Amazon Studios, which six months ago released “All In: The Fight for Democracy,” a documentary about efforts by Ms. Abrams and other activists to tear down voting barriers in Georgia and elsewhere.

The fight in Georgia is likely a preview of things to come. Lawmakers in dozens of states have proposed similar voting bills, and activists are planning to ramp up the pressure on corporate America as the battle over voting rights goes national.

Companies, meanwhile, are trying to maintain a delicate balancing act. Though the Georgia law passed Thursday was less stringent than initially proposed, it introduced more rigid voter identification requirements for absentee balloting, limited drop boxes and expanded the state legislature’s power over elections.

After its passage, Delta and Coca-Cola appeared to take some credit for helping soften the bill’s restrictions. Delta said it had “engaged extensively with state elected officials” in recent weeks and that “the legislation signed this week improved considerably during the legislative process.”

Coca-Cola issued a similar statement, saying it had “sought improvements” to the law and that it would “continue to identify opportunities for engagement and strive for improvements aimed at promoting and protecting the right to vote in our home state and elsewhere.”

Those words were cold comfort to activists who had worked against the efforts to curb voter rights.

“They have made soft statements rather than stepping out,” Ms. Groh-Wargo of Fair Fight said. “It’s ridiculous.”

Brooks Barnes and Nicole Craine contributed reporting.

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‘Black Widow’ Release Date Pushed Back Including Six Disney Films

In a blow to cinemas, which have been desperate for Hollywood to release blockbuster films again, Walt Disney Studios on Tuesday pushed back the release dates of six movies, including the hotly anticipated Marvel superhero film “Black Widow.”

When “Black Widow” does arrive — on July 9 instead of May 7 — Disney said the film would roll out simultaneously in theaters and as a premium Disney+ offering, which means that watching it will cost $30 on top of the $8 monthly subscription to the streaming service. “Cruella,” starring Emma Stone as Cruella de Vil, will arrive in theaters on its previously announced date of May 28. Like “Black Widow,” however, it will also be available in homes at the same time, as a premium Disney+ offering.

Disney pulled “Luca,” the next Pixar film, from theatrical release entirely, saying that it would debut exclusively on Disney+ on June 18.

The other movies that were delayed were “Free Guy,” a comedy starring Ryan Reynolds; “Shang-Chi and the Legend of the Ten Rings,” a Marvel entry; the next “King’s Man” installment; and the dramas “Deep Water” and “Death on the Nile.”

“Today’s announcement reflects our focus on providing consumer choice and serving the evolving preferences of audiences,” Kareem Daniel, chairman of Disney Media & Entertainment Distribution, said in a statement. He added that the company was “leveraging a flexible distribution strategy in a dynamic marketplace that is beginning to recover from the global pandemic.”

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The Week in Business: Go Ahead, Put Off Your Taxes

Good morning and happy spring. Here’s hoping you can enjoy another Sunday spent ignoring your tax returns (or, if you’ve already done them, feeling smug about it). But first, here’s what you need to know in business and tech news for the week ahead. — Charlotte Cowles

Credit…Giacomo Bagnara

Good news for procrastinators like me, or anyone whose taxes were complicated by the pandemic: The Internal Revenue Service has extended the deadline to file taxes by one month, to May 17. The extra time will help people navigate new tax rules that took effect with the passage of the American Rescue Plan. The law made the first $10,200 of unemployment benefits tax-free for people who earned less than $150,000 last year, a significant benefit for many people whose jobs were disrupted. But if you’ve already filed, don’t worry — the I.R.S. said it would automatically send those refunds to people who qualify.

Relations between China and the Biden administration got off to a rocky start last week at the first face-to-face meeting between diplomats. The United States set a confrontational tone on the eve of the talks by imposing sanctions on 24 Chinese officials for undermining democracy in Hong Kong. In turn, China’s top diplomat accused his American counterparts of being “condescending,” among other claims. The purpose of the three-day meeting, according to President Biden’s team, was to find common ground on climate change and on controlling the pandemic, and to address U.S. concerns about Chinese trade and military encroachments. The tension does not bode well for making headway in future negotiations.

suing the Walt Disney Company for what they call “rampant gender pay discrimination” have added another accusation to their list: that Disney “maintains a strict policy of pay secrecy.” A new section of the lawsuit refers to an episode in which one female Disney employee was “disciplined for disclosing her pay to co-workers.” Pay transparency is considered an important part of closing racial and gender wage gaps, and retaliation for discussing your own salary violates California law as well as the National Labor Relations Act. Disney has denied the claims and vowed to defend itself.

Credit…Giacomo Bagnara

Walmart is jumping on the vaccine passport bandwagon, saying it will provide standardized digital vaccination credentials to anyone who gets vaccinated at one of its stores or at Sam’s Club. The retailer will develop a health passport app that people can use to verify their status at airports, schools, sports arenas and other potentially crowded places. Walmart joins an existing push by major health centers and tech companies, including Microsoft, Oracle, Salesforce and the Mayo Clinic, as well as a proposal from the European Union, which would require vaccine verification for travel in certain areas.

How Has the Pandemic Changed Your Taxes?

Nope. The so-called economic impact payments are not treated as income. In fact, they’re technically an advance on a tax credit, known as the Recovery Rebate Credit. The payments could indirectly affect what you pay in state income taxes in a handful of states, where federal tax is deductible against state taxable income, as our colleague Ann Carrns wrote. Read more.

Mostly.  Unemployment insurance is generally subject to federal as well as state income tax, though there are exceptions (Nine states don’t impose their own income taxes, and another six exempt unemployment payments from taxation, according to the Tax Foundation). But you won’t owe so-called payroll taxes, which pay for Social Security and Medicare. The new relief bill will make the first $10,200 of benefits tax-free if your income is less than $150,000. This applies to 2020 only. (If you’ve already filed your taxes, watch for I.R.S. guidance.) Unlike paychecks from an employer, taxes for unemployment aren’t automatically withheld. Recipients must opt in — and even when they do, federal taxes are withheld only at a flat rate of 10 percent of benefits. While the new tax break will provide a cushion, some people could still owe the I.R.S. or certain states money. Read more.

Probably not, unless you’re self-employed, an independent contractor or a gig worker. The tax law overhaul of late 2019 eliminated the home office deduction for employees from 2018 through 2025. “Employees who receive a paycheck or a W-2 exclusively from an employer are not eligible for the deduction, even if they are currently working from home,” the I.R.S. said. Read more.

Self-employed people can take paid caregiving leave if their child’s school is closed or their usual child care provider is unavailable because of the outbreak. This works similarly to the smaller sick leave credit — 67 percent of average daily earnings (for either 2020 or 2019), up to $200 a day. But the caregiving leave can be taken for 50 days. Read more.

Yes. This year, you can deduct up to $300 for charitable contributions, even if you use the standard deduction. Previously, only people who itemized could claim these deductions. Donations must be made in cash (for these purposes, this includes check, credit card or debit card), and can’t include securities, household items or other property. For 2021, the deduction limit will double to $600 for joint filers. Rules for itemizers became more generous as well. The limit on charitable donations has been suspended, so individuals can contribute up to 100 percent of their adjusted gross income, up from 60 percent. But these donations must be made to public charities in cash; the old rules apply to contributions made to donor-advised funds, for example. Both provisions are available through 2021. Read more.

Chief executives from Facebook, Google and Twitter will be grilled in Congress this Thursday, this time over their failure to crack down on the spread of misinformation. Tech executives were last summoned by lawmakers in November 2020, when Mark Zuckerberg of Facebook and Jack Dorsey of Twitter faced a firestorm of questioning about content moderation, mostly regarding their attempts to prevent a wave of falsehoods about the presidential election. This time, they will be asked about coronavirus vaccine misinformation and about the election fraud conspiracy theories that continue to spread on their platforms.

The two biggest names in economic policy — the Federal Reserve chair, Jerome Powell, and Treasury Secretary Janet Yellen — will make their first joint appearance this week when they testify before the House Financial Services Committee on the progress of pandemic relief efforts. The hearing comes one week after the Fed revised its economic outlook to project stronger growth and offered more reassurances that it would keep interest rates near zero for the coming years.

jettisoned a Trump-era policy that limited debt relief for students who were defrauded by for-profit educational institutions. The newly hired Teen Vogue editor, Alexi McCammond, resigned over racist and homophobic tweets that she posted a decade ago. And retail sales dropped 3 percent in February as consumers grappled with declining stimulus effects and devastating winter storms.

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Pay Discrimination Suit Against Disney Adds Pay Secrecy Claim

The case against Disney remains in the discovery phase, where both sides exchange information about the witnesses and evidence they plan to use. There have been early victories and defeats for both sides.

Judge Daniel J. Buckley, for instance, granted a plaintiff request to widen the case to include claims under California’s Fair Employment and Housing Act. A more recent ruling, however, went in Disney’s favor: Citing attorney-client privilege, the judge rebuffed an attempt by Ms. Andrus to obtain access to an analysis that Disney lawyers commissioned in 2017 on pay equity at the company.

Still to be decided is the crucial matter of class action. Certifying the case as such would allow the plaintiffs to represent women employed by Disney in California in full-time positions (excluding those represented by a union) from April 1, 2015, onward — tens of thousands of women.

Felicia A. Davis, the lawyer leading Disney’s defense, has argued that the plaintiffs’ “anecdotal” claims cannot form the basis of a class action, in part because it would unfairly lump together women who work (or worked) in “markedly different jobs, requiring markedly different skills, effort and responsibility,” across “markedly different lines of business.”

In a previous statement, Disney said, “We look forward to presenting our response to the individual claims in court at the appropriate time.”

The 10 women are suing for back pay, lost benefits and other compensation. They also want a judge to force Disney to create internal programs to “remedy the effects of Disney’s past and present unlawful employment policies,” including adjusting salaries and benefits for other women and creating a task force that reports on the progress.

In addition to Ms. Rasmussen, Ms. Moore and Ms. Hanke, the women are Ginia Eady-Marshall, a senior manager at Disney Music Publishing; Enny Joo, a marketing executive at Hollywood Records; Becky Train, a media producer at Disney Imagineering; Amy Hutchins, a former production supervisor in a division that is now Direct-to-Consumer & International; Anabel Pareja Sinn, a former art designer at Hollywood Records; Dawn Wisner-Johnson, a former music coordinator at ABC; and Nancy Dolan, a senior manager of creative music marketing.

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Disneyland will reopen in late April, Disney’s chief executive says.

Disneyland, which has been closed for a year, will reopen in late April.

Bob Chapek, the chief executive of the Walt Disney Company, announced the time frame on Tuesday at the company’s annual shareholder meeting but did not give a specific date.

California officials announced on Friday that theme parks in the state could reopen on a limited basis as soon as April 1. Eligibility, however, will depend on coronavirus transmission statistics in individual counties.

For instance, theme parks in counties where the virus threat remains the most severe (in the purple tier under the state’s system) must remain closed. But parks in areas where the threat of infection has eased somewhat (red tier) will be allowed to reopen at 15 percent capacity. Even less threat (orange tier) will allow for 25 percent capacity, ultimately rising to 35 percent for the lowest threat (yellow).

California will restrict attendance to in-state visitors. Regulators will also restrict indoor dining. Some indoor rides may be required to remain closed.

Disneyland is in Orange County, which is in the purple tier. But if coronavirus cases continue to decline in Southern California at the current pace, the county could fall within the orange tier by late April. The Walt Disney Company said last year that reopening a park at less than 25 percent capacity would not make economic sense.

Before the pandemic, roughly 32,000 people worked at the 486-acre Disneyland Resort, which includes two separately ticketed theme parks, three Disney-owned hotels and an outdoor shopping mall. Some furloughed employees have already returned; the Downtown Disney retail district, for instance, reopened over the summer. Mr. Chapek said that roughly 10,000 additional furloughed employees would be called back for the April limited reopening of rides and hotels.

By the time Disneyland reopens, it will be the last of the company’s six theme park resorts to come back online. (The others are in Orlando, Fla.; Paris; Hong Kong; Tokyo; and Shanghai.) Mr. Chapek said the still-closed Disney Cruise Line may have “limited” sailings by the fall.

In other shareholder meeting news, Disney disclosed that its streaming service, Disney+, now has more than 100 million paying subscribers worldwide. And Robert A. Iger, who passed the chief executive baton to Mr. Chapek last year and transitioned to an executive chairman role, reiterated his intention to leave the company at the end of December.

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