Inboxes

Create an inbox to save and track emails. It's free!

+New inbox

<!DOCTYPE html>
<html xmlns="//www.w3.org/1999/xhtml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:v="urn:schemas-microsoft-com:vml">
 <head>
  <title>
   DealBook: Big Tech takes Texas to the Supreme Court
  </title>
  <!--[if !mso]><!-- -->
  <meta content="IE=edge" http-equiv="X-UA-Compatible"/>
  <!--<![endif]-->
  <meta content="text/html; charset=utf-8" http-equiv="Content-Type"/>
  <meta content="width=device-width,initial-scale=1" name="viewport"/>
  <style type="text/css">
   #outlook a{padding:0}body{margin:0;padding:0;-webkit-text-size-adjust:100%;-ms-text-size-adjust:100%}table,td{border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0}img{border:0;height:auto;line-height:100%;outline:0;text-decoration:none;-ms-interpolation-mode:bicubic}p{display:block;margin:13px 0}p,ul{margin-top:0}@media (max-width:600px){body{padding:0 15px!important}}
  </style>
  <!--[if mso]>
        <xml>
        <o:OfficeDocumentSettings>
          <o:AllowPNG/>
          <o:PixelsPerInch>96</o:PixelsPerInch>
        </o:OfficeDocumentSettings>
        </xml>
        <![endif]-->
  <style type="text/css">
   @media (max-width:480px){.css-9djnv9{padding:20px 0 0!important}}@media (max-width:480px){.css-1nu1ipb img{width:100%!important}}.css-5nb5nb:hover{-webkit-text-decoration:none!important;text-decoration:none!important}@media (max-width:600px){.css-13ktpoc{height:auto!important;padding-top:5px!important}}@media (max-width:480px){.css-1ukdnh3{padding-top:6px!important;padding-bottom:15px!important;line-height:12px!important}}@media (max-width:480px){.css-atnqj9{font-size:normal 12px!important}}@media (max-width:480px){.css-hpkdsj{font-size:normal 11px!important}}@media (max-width:480px){.css-fd883z{height:10px!important}}@media (max-width:480px){.css-12n1aic{font-size:25px!important;line-height:30px!important}}@media (max-width:480px){.css-1ptb5x6{padding:10px 0 26px!important}}@media (max-width:480px){.css-1uqm1ol{margin:0 0 20px!important}}@media (max-width:480px){.css-1expd9{vertical-align:top!important;display:block!important;width:100%!important;padding:0 14px!important}}@media (max-width:480px){.css-1q4lnbl{margin-bottom:5px!important;letter-spacing:.5px!important}}@media (max-width:600px){.css-132hdgt{font-size:17px!important;line-height:25px!important}}@media (max-width:480px){.css-27qc8p{padding-left:30px!important}}@media (max-width:480px){.css-11scvta{line-height:25px!important}}.css-1iyjcs6:hover{border-bottom:none!important}.css-14cwm9a:hover{border-bottom:none!important}.css-1vpmr0r:hover{-webkit-text-decoration:none!important;text-decoration:none!important}@media (max-width:480px){.css-ge16ha{display:inline-block}}@media (max-width:480px){.css-g1j07a{border-right:1px solid #dcdcdc!important;padding-right:10px!important;margin-right:10px!important}}@media (max-width:480px){.css-5zpqw8{display:inline-block!important}}
  </style>
 </head>
 <body>
  <div style="color:transparent;visibility:hidden;opacity:0;font-size:0px;border:0;max-height:1px;width:1px;margin:0px;padding:0px;border-width:0px!important;display:none!important;line-height:0px!important;">
   <img alt="" border="0" height="1" src="https://inboxflows.com/_/image/https%253A%252F%252Fnl.nytimes.com%252Fq%252FJas8Cv3VDInYRos3eckkcQ~~%252FAAAAAQA~%252FRgRkZ2XmPVcDbnl0QgpigubghGKHxpHdUhNhZThiODM5YkB1aWZlZWQuY29tWAQAAAAA/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZubC5ueXRpbWVzLiJ9:1nrIR0:U0HYnzzt40uuyjs78rBaTkT3r5CMuVJe9ZefyaZOJCM" width="1"/>
  </div>
  <div style="display:none;font-size:1px;color:#fff;line-height:1px;max-height:0;max-width:0;opacity:0;overflow:hidden">
   Social networks want to block a Texas law that restricts content moderation.
  </div>
  <div>
   <!--[if mso | IE]>
      <table border="0" cellpadding="0" cellspacing="0" style="margin-right: auto; margin-left: auto" width="600" align="center">
        <tr>
          <td>
    <![endif]-->
   <table align="left" bgcolor="#FFFFFF" border="0" style="margin:0" width="100%">
    <tbody>
     <tr>
      <td align="left" id="EMAIL_CONTAINER" width="100%">
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr style="width:100%">
           <td style="padding:15px 0 5px;border-bottom:1px solid #dcdcdc;text-align:center;width:100%">
            <div style="font-family:arial,sans-serif;font-size:12px;text-align:center;width:100%;padding-bottom:10px">
             <a alt="View in browser" style="color:#666;-webkit-text-decoration:none;text-decoration:none;line-height:18px">
              View in browser
             </a>
             <span style="color:#dcdcdc;margin:0 10px">
              |
             </span>
             <a alt="The New York Times" style="color:#666;-webkit-text-decoration:none;text-decoration:none;line-height:18px">
              nytimes.com
             </a>
            </div>
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
            <span style="width:100%;text-align:center">
             <table align="center" border="0" cellpadding="0" cellspacing="0">
              <tr>
               <td align="center" colspan="2">
                <a rel="nofollow">
                 <img border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D269024%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" style="width: 100%; max-width: 600px !important;" width="600"/>
                </a>
               </td>
              </tr>
              <tr>
               <td height="10px">
               </td>
              </tr>
             </table>
            </span>
           </td>
          </tr>
          <tr id="_a11y-skip-ad-marquee" style="width:100%">
           <td align="center" class="css-9djnv9 e2w5h5p0" style="border-bottom:1px solid #dcdcdc;padding:19px 0 0;width:100%;text-align:center" width="100%">
            <div class="css-1nu1ipb e2w5h5p2" style="margin-bottom:15px">
             <a alt="DealBook">
              <img alt="DealBook" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nytimes.com%252Femail-images%252FNew_Headers%252FNYT-Headers-F-DealBook%25402x.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSJ9:1nrIR0:Tu1r--7o1OhzmPFQcEV__r5F-Yqz_zvQVqHDWdLWrYk" style="width:300px" width="300"/>
             </a>
            </div>
            <p style="width:100%;margin-bottom:31px;font:12px/12px georgia,serif">
             May 18, 2022
            </p>
            <div>
             <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
              Continue reading the main story
             </a>
             <div style="margin:0 auto;max-width:600px;width:100%">
              <table cellpadding="0" width="100%">
               <tbody>
                <tr>
                 <td style="padding-top:18px;padding-bottom:23px;border-top:1px solid #dcdcdc">
                  <table align="center" style="margin:0 auto;text-align:center;color:#8b8b8b;font:400 11px/12px arial,sans-serif;letter-spacing:.8px">
                   <tbody>
                    <tr>
                     <td>
                      <span>
                       SUPPORTED BY
                      </span>
                     </td>
                     <td>
                      <a style="line-height:20px;display:inline-block;padding-left:5px">
                       <img alt="SUPPORTED BY logo" height="15" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nytimes.com%252Fads%252Femail_logo%252Fdealbook%252FDeloittelogov2.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSJ9:1nrIR0:Tu1r--7o1OhzmPFQcEV__r5F-Yqz_zvQVqHDWdLWrYk" style="display:block;height:15px;max-height:15px;max-width:150px;font-size:0"/>
                      </a>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
            </div>
           </td>
          </tr>
          <tr>
           <td height="20" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-ad-supported-by" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-style:italic;font-size:inherit">
              Good morning. (Was this newsletter forwarded to you?
             </span>
             <span style="font-style:italic;font-size:inherit">
              <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               Sign up here.
              </a>
             </span>
             <span style="font-style:italic;font-size:inherit">
              )
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td bgcolor="#000000" height="8" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td height="25" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <a style="-webkit-text-decoration:none;text-decoration:none">
            </a>
            <table cellpadding="0" cellspacing="0" style="border-spacing:0;font-family:arial,sans-serif;color:#333;padding:0;background:#fff" width="100%">
             <tbody>
              <tr>
               <td style="width:100%;padding:0;line-height:1" width="100%">
                <img class="css-13ktpoc e1e3sevz0" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2022%252F05%252F18%252Fmultimedia%252F18db-scotus%252F18db-scotus-articleLarge.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSJ9:1nrIR0:Tu1r--7o1OhzmPFQcEV__r5F-Yqz_zvQVqHDWdLWrYk" style="display:block;width:100%;height:auto;padding-top:5px"/>
               </td>
              </tr>
              <tr>
               <td align="left" class="css-1ukdnh3 esd8w5v1" style="text-align:left;width:100%;padding-top:8px;padding-bottom:15px;line-height:14px" width="100%">
                <span>
                 <span class="css-atnqj9 esd8w5v2" style="margin:0;font:normal 14px georgia,serif;color:#666">
                  The ultimate moderators.
                 </span>
                 <span class="css-hpkdsj esd8w5v3" style="margin:0;font:normal 11px georgia,serif;padding-left:5px;color:#888;letter-spacing:.01em">
                  Kenny Holston for The New York Times
                 </span>
                </span>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td class="css-fd883z eagip7l0" height="20" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic el2acgh0" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             Who decides who can speak on social media?
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Violent videos like the livestream of last weekend’s mass shooting in Buffalo, N.Y., have long been a problem for social media sites. Such atrocities always stir up national debate about the responsibilities of social media companies to block harmful material. This time, the debate is happening amid a messy fight about free speech that the companies are taking to the Supreme Court.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The tech industry is challenging a
             </span>
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               Texas law
              </a>
             </span>
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              aimed at stopping social media “censorship.”
             </span>
             The law, HB 20, which was prompted by complaints from conservatives, requires platforms with at least 50 million users to refrain from removing user posts because they convey a certain viewpoint. It was passed last year but was blocked by a lower court before an appeals court
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              reinstated it last week
             </a>
             , allowing it to go into effect immediately. NetChoice, an industry group that includes Facebook, Twitter and TikTok, along with the Computer &amp; Communications Industry Association, is asking the Supreme Court to block the law again while legal challenges are pending. They
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              filed an emergency petition
             </a>
             to the high court’s so-called shadow docket, where decisions are made quickly, typically without oral arguments.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="center" style="padding:0">
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div class="css-1ptb5x6 e5441wg0" style="margin:0 auto;max-width:600px;width:100%;padding:10px 0 27px">
        <table bgcolor="#f8f8f8" cellpadding="0" style="background-color:#f8f8f8" width="100%">
         <tbody>
          <tr>
           <td colspan="1" height="16" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td colspan="1">
            <h3 class="css-1uqm1ol e1qijxl60" style="font:10px/10px arial,sans-serif;letter-spacing:.1em;color:#5a5a5a;text-align:center;text-transform:uppercase;margin:0 0 14px">
             A MESSAGE FROM
             <!-- -->
             Deloitte
            </h3>
           </td>
          </tr>
          <tr>
           <td class="css-1expd9 e1d3q5wz0" style="vertical-align:middle;width:50%;padding:8px 16px 1px;box-sizing:border-box" valign="middle" width="50%">
            <a style="-webkit-text-decoration:none;text-decoration:none;display:block">
             <p style="font:700 20px/28px georgia,serif;color:#121212;margin:0 0 4px">
              The future of quantum computing: Are you prepared?
             </p>
             <p style="font:16px/22px georgia,serif;color:#121212;margin:0 0 19px">
              VCs invested over $1 billion into the quantum computing sector in 2021. Looking ahead: As with other emerging tech, businesses should start paying attention to applications of quantum computing. Learn more about quantum’s increasing potential.
             </p>
             <p style="font:700 10px/10px arial,sans-serif;text-transform:uppercase;-webkit-text-decoration:underline;text-decoration:underline;color:#5a5a5a;margin:0 0 20px">
              Read now
             </p>
             <img alt="Deloitte Logo" height="15" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nytimes.com%252Fads%252Femail_logo%252Fdealbook%252FDeloittelogov2.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSJ9:1nrIR0:Tu1r--7o1OhzmPFQcEV__r5F-Yqz_zvQVqHDWdLWrYk" style="height:15px;max-width:150px"/>
            </a>
           </td>
          </tr>
          <tr>
           <td colspan="1" height="16" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-0" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The law is so broad that it could prevent platforms from removing the most extreme posts
             </span>
             , including the video of the shooting and the suspect’s racist manifesto, said Chris Marchese, policy counsel for NetChoice. Such restrictions violate the companies’ free speech rights, Marchese told DealBook: “The First Amendment is clear.” But some constitutional law experts are a little less certain. Genevieve Lakier, a free speech specialist at the University of Chicago law school, told DealBook that what seemed “patently unconstitutional” just two weeks ago isn’t so clear now.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             “Under First Amendment law as it has existed so far, it’s pretty clear that the government can’t ban private platforms from viewpoint discriminating,” she said. This is traditionally a position embraced by conservative justices. But Lakier said that Justice Clarence Thomas has been arguing otherwise, and the appeals court decision to lift the stay on the Texas law suggests that some judges have picked up on the justice’s arguments. “If so, that’s a significant change,” Lakier said.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              If the Supreme Court refuses to act, it might signal a sea change in free speech law.
             </span>
             That would be “a pretty profound indication” that at least some of the justices believe the government can have much more say in telling private companies what to do, Lakier said. What’s more likely to happen, she believes, is that the Supreme Court will stay the Texas law for now, giving the companies what they want without indicating what could happen later.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             A decision on the petition should come quickly, Marchese said, and tech and legal experts are already asking the court for
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              permission to chime in
             </a>
             with amicus briefs.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="center" style="padding:0">
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:15px 0;border-top:1px solid #dcdcdc;border-bottom:1px solid #dcdcdc;text-align:center;background-color:#fff">
            <h3 class="css-1q4lnbl e1vokjcl1" color="#666666" style="font:10px/13px arial,sans-serif;color:#666;letter-spacing:.7px;margin-bottom:5px;margin-top:0;text-align:center">
             ADVERTISEMENT
            </h3>
            <span style="width:100%;text-align:center">
             <table border="0" cellpadding="0" cellspacing="0" style="margin: 0 auto;">
              <tr>
               <td colspan="2">
                <a rel="nofollow">
                 <img border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D269018%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" style="width: 100%; max-width: 600px !important;" width="600"/>
                </a>
               </td>
              </tr>
             </table>
            </span>
           </td>
          </tr>
          <tr>
           <td height="20px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-1" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="25" style="padding:0;font-size:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:0;font-size:0;border-top:8px solid #000">
            <h3 class="css-132hdgt e8bxl341" style="color:#000;font:700 16px/24px arial,sans-serif;margin:8px 0 25px 0;letter-spacing:.2px">
             HERE’S WHAT’S HAPPENING
            </h3>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Jerome Powell says the Fed is watching for signs that inflation’s easing.
             </span>
             The Fed chair said the central bank was
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              prepared to raise rates more quickly
             </a>
             if price pressures persist. If it looks to be abating, then “we can consider moving to a slower pace,” Powell said, speaking on a Wall Street Journal livestream.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Target’s profit falls short of Wall Street expectations.
             </span>
             The company said higher freight costs, inventory shortages and lower-than-expected sales had
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              hurt its results
             </a>
             . Its shares were down 22 percent in premarket trading. Yesterday, Walmart reported a
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              25 percent drop
             </a>
             in first-quarter profit.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              JP Morgan shareholders reject Jamie Dimon’s $52.6 million bonus.
             </span>
             The vote, which is not binding, was
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              an unusual signal of disapproval
             </a>
             for the C.E.O., and for the stock option award that directors gave him last year to encourage him to stay.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The Justice Department sues Steve Wynn.
             </span>
             The government accused the former casino mogul of acting as a foreign agent by serving as a middleman for the Chinese government and lobbying President Trump,
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              without registering as one
             </a>
             .
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="center" style="padding:0">
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:15px 0;border-top:1px solid #dcdcdc;border-bottom:1px solid #dcdcdc;text-align:center;background-color:#fff">
            <h3 class="css-1q4lnbl e1vokjcl1" color="#666666" style="font:10px/13px arial,sans-serif;color:#666;letter-spacing:.7px;margin-bottom:5px;margin-top:0;text-align:center">
             ADVERTISEMENT
            </h3>
            <span style="width:100%;text-align:center">
             <table border="0" cellpadding="0" cellspacing="0" style="margin: 0 auto;">
              <tr>
               <td colspan="2">
                <a rel="nofollow">
                 <img border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D791919%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" style="width: 100%; max-width: 600px !important;" width="600"/>
                </a>
               </td>
              </tr>
             </table>
            </span>
           </td>
          </tr>
          <tr>
           <td height="20px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-2" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Japan’s economy shrinks.
             </span>
             The world’s third-largest economy
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              contracted at an annualized rate of 1 percent
             </a>
             in the first quarter, set back by coronavirus restrictions, higher energy prices and supply chain issues. Analysts say growth is likely to bounce back in the second quarter.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td bgcolor="#000000" height="8" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td height="25" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic el2acgh0" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             Exclusive: Iger invests in a delivery start-up
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Gopuff, a quick-delivery company that was a pandemic darling, is now navigating a trickier environment, one that has forced it to delay an I.P.O. and cut jobs. It’s about to get some guidance from an important new friend.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="center" style="padding:0">
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:15px 0;border-top:1px solid #dcdcdc;border-bottom:1px solid #dcdcdc;text-align:center;background-color:#fff">
            <h3 class="css-1q4lnbl e1vokjcl1" color="#666666" style="font:10px/13px arial,sans-serif;color:#666;letter-spacing:.7px;margin-bottom:5px;margin-top:0;text-align:center">
             ADVERTISEMENT
            </h3>
            <span style="width:100%;text-align:center">
             <table border="0" cellpadding="0" cellspacing="0" style="margin: 0 auto;">
              <tr>
               <td colspan="2">
                <a rel="nofollow">
                 <img border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D269021%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" style="width: 100%; max-width: 600px !important;" width="600"/>
                </a>
               </td>
              </tr>
             </table>
            </span>
           </td>
          </tr>
          <tr>
           <td height="20px" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-3" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Bob Iger, the former Disney C.E.O., is investing in Gopuff
             </span>
             ,
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
             </span>
             and will advise its founders, DealBook is first to report. Iger told DealBook that he’s always been interested in using technology to serve consumers. “Gopuff is a great example of this, and I am impressed with its product, strategy and its founders,” he said. “I look forward to advising them as they continue to grow, and I am confident they have the scale and the capital to do so.” Iger and Gopuff did not disclose the size of his investment.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Gopuff, which promises deliveries of food, drinks and other products in 30 minutes or less, soared to a $15 billion valuation last year and operates in 1,200 cities. This year it put off an I.P.O. and, as of last month, was seeking to raise
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              $1 billion in debt that could potentially be turned into stock
             </a>
             . It also lowered its
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              drivers’ minimum-pay guarantees in California
             </a>
             , and in March it laid off about 450 people, or 3 percent of its workers. Headquartered in Philadelphia, the company was founded in 2013 by Yakir Gola and Rafael Ilishayev, two sophomores at Drexel University who are now its co-C.E.O.s. Gopuff’s investors include Accel, Blackstone, D1 Capital Partners and SoftBank’s Vision Fund, according to Bloomberg.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              The rapid-delivery business is a tough one
             </span>
             , with
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              intense competition
             </a>
             . Getir, one of the largest companies in the industry, aims to deliver groceries in 10 minutes. There is also the question of which business model will prevail for on-demand shopping: Gopuff’s, in which it owns its inventory and keeps it in neighborhood fulfillment centers, or DoorDash’s third-party delivery model, which has less overhead. And consolidation seems inevitable: Just this week, the German grocery delivery start-up Flink
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              bought a French competitor, Cajoo
             </a>
             .
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom:15px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic el2acgh0" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             “No country controls the wind and the sun. Let’s make sure that this is the last time that the global economy is held hostage to the hostile actions of those who produce fossil fuels.”
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-style:italic;font-size:inherit">
              — Janet Yellen, in a speech to the Brussels Economic Forum yesterday, making the case that Russia’s actions are a reminder that
             </span>
             <span style="font-style:italic;font-size:inherit">
              <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               countries should not trade security for cheap energy
              </a>
             </span>
             <span style="font-style:italic;font-size:inherit">
              .
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom:15px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <h2 class="css-12n1aic el2acgh0" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
             Learning from Luna’s collapse
            </h2>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Luna, a cryptocurrency launched by Terraform Labs and its combative 30-year-old founder Do Kwon, traded for $116 in early April. Last week it collapsed. It’s now valued at just under two-hundredths of a cent, meaning it takes more than 50 Lunas to add up to a single penny.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Luna offers a prime view of who gets hurt when cryptocurrencies collapse, and who’s to blame
             </span>
             ,
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              report The Times’s David Yaffe-Bellany and Erin Griffith
             </a>
             . Investors have lost as much as $300 billion in the recent crypto sell-off, which was accelerated by Luna’s failure. “You’ve seen a bunch of people trying to trade in their reputations to make quick bucks,” said Kathleen Breitman, a founder of the crypto platform Tezos. Now, she said, “They’re trying to console people who are seeing their life savings slip out from underneath them. There’s no defense for that.”
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             Here’s where investors and observers have placed the most blame for Luna’s costly demise:
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
                Do Kwon:
               </span>
               He trumpeted Luna’s world-changing potential, rallying a band of investors and supporters he proudly called “Lunatics.” He answered criticism of Luna and its sister currency, TerraUSD, with trash talk, once
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                quipping
               </a>
               , “I don’t debate the poor.”
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
                Institutional investors:
               </span>
               Terraform touted investments from such high-profile crypto investors as
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Mike Novogratz
               </a>
               . Critics are now accusing those Wall Street veterans of profiting from a cryptocurrency that had raised questions from the beginning. Paul Veradittakit, a partner at Pantera Capital, said in July 2021 that his firm had “long been a supporter” of Kwon, and that it would “continue to support” Terra as it grew. Less than nine months later, Pantera had dumped nearly 80 percent of its stake in Luna, booking a 10,000 percent return on its initial $1.7 million investment. (Veradittakit says his firm sold when Luna’s price spiked above what he thought the currency was worth. Pantera, like other crypto investors, says it sold assets recently to avoid a downturn.)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
                “Financial innovation”:
               </span>
               Part of crypto’s investment appeal is the prospect of owning a new kind of money. Kwon claimed he was creating a “modern financial system” in which users could conduct complicated transactions without relying on banks or other middlemen. TerraUSD was a stablecoin, designed to remain at a value of $1 — but unlike earlier stablecoins, it was backed not by dollars or other traditional assets, but rather a formula linking it to Luna. It didn’t work: The price of a Terra has dropped to $0.13. Nonetheless, investors have put $5 billion into stablecoins that are not backed by actual assets, according to figures from Coinmarketcap.com.
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             “It’s the cult of personality — the bombastic, arrogant, Do Kwon attitude — that sucks people in,” said Brad Nickel, who hosts “Mission: DeFi,” a cryptocurrency podcast.
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom:15px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Subscribe Today
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             We hope you’ve enjoyed this newsletter, which is made possible through subscriber support.
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              Subscribe to The New York Times with this special offer.
             </a>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="25" style="padding:0;font-size:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:0;font-size:0;border-top:8px solid #000">
            <h3 class="css-132hdgt e8bxl341" style="color:#000;font:700 16px/24px arial,sans-serif;margin:8px 0 25px 0;letter-spacing:.2px">
             THE SPEED READ
            </h3>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Deals
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Saudi Aramco is said to be
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                considering an I.P.O. of its trading unit
               </a>
               , which would be one of the biggest offerings of the year. (Bloomberg)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The European banks
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Commerzbank and UniCredit
               </a>
               reportedly planned merger talks, but were derailed by the invasion of Ukraine. (FT)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Policy
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               In primaries in five states yesterday, Republican voters mostly rewarded candidates who dispute the 2020 election results.
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Here are five takeaways
               </a>
               . (NYT)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The U.S. is set to
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                ease some economic sanctions on Venezuela
               </a>
               to encourage political negotiations there. (Axios)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Russia-Ukraine war
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The war is likely to force Russia to retreat
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                across energy markets
               </a>
               for years to come. (NYT)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The U.S. is expected to begin blocking Russia from paying American bondholders, raising the prospect of
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                a Russian default
               </a>
               . (NYT)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               The war in Ukraine and a global tightening of credit
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                have sown misery
               </a>
               in low- and middle-income countries. (NYT)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Best of the rest
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td style="padding:0 0 5px">
            <ul class="css-27qc8p e1darl2c0" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               “Crashing Crypto:
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Is This Time Different?
               </a>
               ” (Times Opinion)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               “All Those
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                Celebrities Pushing Crypto
               </a>
               Are Not So Vocal Now” (NYT)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Apple
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                changed its return-to-office plans
               </a>
               because of a rise in Covid cases. (NYT)
              </span>
             </li>
             <li class="css-11scvta e1y8brq21" style="line-height:27.5px;margin:0 0 10px 0">
              <span style="font-size:17px;line-height:25px">
               Grubhub offered New Yorkers a free lunch yesterday. It was
               <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
                kind of a disaster
               </a>
               . (BuzzFeed)
              </span>
             </li>
            </ul>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="10" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td bgcolor="#000000" height="8" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td height="25" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-style:italic;font-size:inherit">
              <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               David Gallagher
              </a>
             </span>
             <span style="font-style:italic;font-size:inherit">
              and
             </span>
             <span style="font-style:italic;font-size:inherit">
              <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
               Anna Schaverien
              </a>
             </span>
             <span style="font-style:italic;font-size:inherit">
              contributed to today’s DealBook.
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             <span style="font-weight:700;font-size:inherit;font-family:arial,sans-serif">
              Thanks for reading! We’ll see you tomorrow.
             </span>
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="left">
            <p style="color:#000;font:normal 17px/25px georgia,serif;margin:0 0 15px">
             We’d like your feedback. Please email thoughts and suggestions to
             <a class="css-5nb5nb et1n85g0" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-family:inherit;font-size:inherit">
              dealbook@nytimes.com
             </a>
             .
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td align="center" style="padding:0">
            <a style="display:block;width:1px;height:1px;max-height:1px;overflow:hidden;color:transparent">
             Continue reading the main story
            </a>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="overflow:hidden;height:0;width:100%;max-width:600px;margin:0 auto">
        <table border="0" cellpadding="0" cellspacing="0" height="6" width="40">
         <tbody>
          <tr>
           <td>
            <img border="0" height="6" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D124967600%2526sz%253D2x1%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518%2526li%253DDK/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" width="2"/>
           </td>
           <td>
            <img border="0" height="6" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D124967601%2526sz%253D2x1%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518%2526li%253DDK/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" width="2"/>
           </td>
           <td>
            <img border="0" height="6" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D124967602%2526sz%253D2x1%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518%2526li%253DDK/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" width="2"/>
           </td>
           <td>
            <img border="0" height="6" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D124967603%2526sz%253D2x1%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518%2526li%253DDK/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" width="2"/>
           </td>
           <td>
            <img border="0" height="6" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D124967604%2526sz%253D2x1%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20220518%2526li%253DDK/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiJ9:1nrIR0:GaStWqRiarez48dLgLTGMKtqu5hfcs2cGbXwiVJ58uM" width="2"/>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div id="_a11y-skip-4" style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="15" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom:22px;border-top:1px solid #dcdcdc">
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Andrew Ross Sorkin
            </a>
            <span style="color:#000">
             , Founder/Editor-at-Large,
             <!-- -->
             New York
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @andrewrsorkin
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Jason Karaian
            </a>
            <span style="color:#000">
             , Editor,
             <!-- -->
             London
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @jkaraian
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Vivian Giang
            </a>
            <span style="color:#000">
             , Deputy Editor (interim),
             <!-- -->
             New York
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @vivian_giang
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Sarah Kessler
            </a>
            <span style="color:#000">
             , Deputy Editor (on leave),
             <!-- -->
             Chicago
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @sarahfkessler
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Stephen Gandel
            </a>
            <span style="color:#000">
             , News Editor,
             <!-- -->
             New York
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @stephengandel
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Michael J. de la Merced
            </a>
            <span style="color:#000">
             , Reporter (on leave),
             <!-- -->
             London
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @m_delamerced
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Jenny Gross
            </a>
            <span style="color:#000">
             , Reporter (interim),
             <!-- -->
             London
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @jggross
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif;padding-bottom:7px">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Lauren Hirsch
            </a>
            <span style="color:#000">
             , Reporter,
             <!-- -->
             New York
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @LaurenSHirsch
            </a>
           </td>
          </tr>
          <tr>
           <td style="font:13px/18px arial,sans-serif">
            <a class="css-1iyjcs6 e13692dx4" style="font-weight:600;color:#000;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc">
             Ephrat Livni
            </a>
            <span style="color:#000">
             , Reporter,
             <!-- -->
             Washington D.C.
            </span>
            <a class="css-14cwm9a e13692dx5" style="-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-bottom:1px solid #286ed0">
             @el72champs
            </a>
           </td>
          </tr>
          <tr>
           <td height="9" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
         </tbody>
        </table>
       </div>
       <div style="margin:0 auto;max-width:600px;width:100%">
        <table cellpadding="0" width="100%">
         <tbody>
          <tr>
           <td height="15" style="font-size:0;line-height:0" width="100%">
           </td>
          </tr>
          <tr>
           <td style="padding:12px 0;border-top:1px solid #000">
            <p display="block" font-size="12px" style="display:block;font:12px/15px arial,sans-serif;color:#666;text-align:left;margin-bottom:7px">
             Need help? Review our
             <!-- -->
             <a class="css-1vpmr0r et1n85g0" style="color:#286ed0;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;font-size:inherit">
              newsletter help page
             </a>
             <!-- -->
             or
             <!-- -->
             <a class="css-1vpmr0r et1n85g0" style="color:#286ed0;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;font-size:inherit">
              contact us
             </a>
             <!-- -->
             for assistance.
            </p>
            <p display="block" font-size="12px" style="display:block;font:12px/15px arial,sans-serif;color:#666;text-align:left;margin-bottom:7px">
             <span>
              You received this email because you signed up for DealBook from The New York Times.
             </span>
            </p>
            <p display="block" font-size="12px" style="display:block;font:12px/15px arial,sans-serif;color:#666;text-align:left;margin-bottom:0">
             To stop receiving these emails,
             <!-- -->
             <a class="css-1vpmr0r et1n85g0" style="color:#286ed0;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;font-size:inherit">
              unsubscribe
             </a>
             <!-- -->
             or
             <!-- -->
             <a class="css-1vpmr0r et1n85g0" style="color:#286ed0;-webkit-text-decoration:none;text-decoration:none;font-family:inherit;font-size:inherit">
              manage
              <span class="css-ge16ha e28ago31">
               your email preferences
              </span>
             </a>
             .
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding:10px 0">
            <p style="display:inline-block;font:12px/15px arial,sans-serif;color:#666;text-align:left;margin-bottom:0">
             <a class="css-g1j07a e28ago33" style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0">
              Subscribe to The Times
             </a>
             <span class="css-5zpqw8 e28ago34" style="display:none">
              <a style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0">
               Get The New York Times app
              </a>
             </span>
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding:9px 0 8px">
            <table>
             <tbody>
              <tr>
               <td style="padding-right:15px">
                <p style="display:inline-block;font:12px/15px arial,sans-serif;color:#666;text-align:left;margin-bottom:0">
                 Connect with us on:
                </p>
               </td>
               <td style="padding-right:15px">
                <a>
                 <img alt="twitter" height="25" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic.nytimes.com%252Femail-images%252Fdesign-system%252Fsocial-icons%252Ftwitter.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMubnl0aSJ9:1nrIR0:AvgeJw27MWrxmjDt19taRBmp7Y9Sz_6Hgc6lzCcc-aw" style="vertical-align:middle" width="25"/>
                </a>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding:8px 0">
            <p style="display:inline-block;font:12px/20px arial,sans-serif;color:#666;text-align:left;margin-bottom:0">
             <a style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-right:1px solid #dcdcdc;padding-right:10px;margin-right:10px">
              Change Your Email
             </a>
             <a style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-right:1px solid #dcdcdc;padding-right:10px;margin-right:10px">
              Privacy Policy
             </a>
             <a style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0;border-right:1px solid #dcdcdc;padding-right:10px;margin-right:10px">
              Contact Us
             </a>
             <a style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#286ed0">
              California Notices
             </a>
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding:5px 0 7px">
            <a color="#666666" style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#666;border-right:1px solid #dcdcdc;padding-right:10px;margin-right:10px;line-height:0">
             <img alt="LiveIntent Logo" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic.nytimes.com%252Femail-images%252Fdesign-system%252Fads%252Fliveintentads.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMubnl0aSJ9:1nrIR0:AvgeJw27MWrxmjDt19taRBmp7Y9Sz_6Hgc6lzCcc-aw" style="vertical-align:middle" width="150"/>
            </a>
            <a color="#666666" style="display:inline-block;-webkit-text-decoration:none;text-decoration:none;color:#666;line-height:0">
             <img alt="AdChoices Logo" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic.nytimes.com%252Femail-images%252Fdesign-system%252Fads%252Fadchoices.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMubnl0aSJ9:1nrIR0:AvgeJw27MWrxmjDt19taRBmp7Y9Sz_6Hgc6lzCcc-aw" style="vertical-align:middle" width="70"/>
            </a>
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding:10px 0 30px">
            <p color="#999999" style="display:inline-block;font:12px/15px arial,sans-serif;color:#999;text-align:left;margin-bottom:0">
             The New York Times Company. 620 Eighth Avenue New York, NY 10018
            </p>
           </td>
          </tr>
         </tbody>
        </table>
       </div>
      </td>
     </tr>
    </tbody>
   </table>
   <!--[if mso | IE]>
      </td>
    </tr>
  </table>
  <![endif]-->
  </div>
  <script>
   window&&window.parent.window!==window&&function(){const e=document;for(var t=e.querySelectorAll("a"),r=0;r<t.length;r++)t[r].onclick=function(e){e.preventDefault()},t[r].style.cursor="default";(e.referrer.match(new RegExp("https://(.*?).nytimes.com"))||e.referrer.match("https://nytimes.com"))&&window.parent.postMessage({tableHeight:e.querySelector("table").scrollHeight},e.referrer)}()
  </script>
  <img alt="" border="0" height="1" src="https://inboxflows.com/_/image/https%253A%252F%252Fnl.nytimes.com%252Fq%252FsVRT-beS30DglgikGTb7OQ~~%252FAAAAAQA~%252FRgRkZ2XmPlcDbnl0QgpigubghGKHxpHdUhNhZThiODM5YkB1aWZlZWQuY29tWAQAAAAA/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZubC5ueXRpbWVzLiJ9:1nrIR0:U0HYnzzt40uuyjs78rBaTkT3r5CMuVJe9ZefyaZOJCM" width="1"/>
 </body>
</html>