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   DealBook: Tariff turmoil 2.0
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   Also, has China gotten the upper hand?
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             February 23, 2026
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          Good morning. Andrew here.
         </span>
         <span>
          We’re continuing to examine the fallout from the Supreme Court’s decision overturning many of President Trump’s tariffs.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          For the moment, the prevailing view — including among several C.E.O.s I spoke with who are assessing the ruling’s impact — appears to be that many tariffs will remain in place, not just the 150-day levies that Trump has imposed with Section 122 of the Trade Act of 1974, but through other legal avenues as well. Still, the Supreme Court decision is likely to scramble, or at least slow down, some corporate investment plans. That may include commitments to reshore supply chains in the U.S.
         </span>
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         <span>
          A major question mark now hangs over big commitments that other countries have made to spend money in the U.S., many of which remain unfulfilled. We go deep into all of it below; I also discuss these issues on
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          today’s episode of “The Daily.”
         </a>
         <span>
          And if you’re in the Northeast hunkering down amid the storm, please stay safe and warm. (Was this newsletter forwarded to you?
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Sign up here.
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          )
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            <span style="color:#666;font:normal 14px georgia,serif">
             President Trump said the Supreme Court’s decision overturning many of his tariffs wouldn’t derail his trade policy — but potential hurdles are emerging.
            </span>
            <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
             Eric Lee for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Disruption déjà vu
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Tariff anxiety is back. European stocks are trading lower this morning, and the S&amp;P 500 looks set to reverse its gains from Friday. (One bright spot is Hong Kong’s Hang Seng Index — more on that below.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The administration has argued that the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Supreme Court’s ruling
         </a>
         <span>
          on Friday against many of President Trump’s sweeping tariffs won’t derail his combative trade policy. But how that plays out is unclear.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The latest:
         </span>
         <span>
          The Trump administration warned U.S. trading partners that their trade deals weren’t affected by the court’s ruling. “We expect our partners to stand by them,”
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Jamieson Greer
         </a>
         <span>
          , the United States trade representative, told “Face the Nation” yesterday.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Trump has also set a global tariff rate
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          at 15 percent
         </a>
         <span>
          , up from a recently declared 10 percent.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          But countries aren’t sitting still:
         </span>
        </p>
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Indian negotiators reportedly postponed talks to finalize an interim deal the country struck with the U.S. this month as they “
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                study the implications
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ” of the Supreme Court ruling, according to the BBC.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Lawmakers in the European Parliament said
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                they would stop work
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                on approving the E.U.’s trade deal with the U.S. “We have no other option,” a top European negotiator told Bloomberg.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Other nations that raced last year to get a deal done,
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                including Britain
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , have big questions.
               </span>
              </li>
             </ul>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          How long would the new 15 percent levies last?
         </span>
         <span>
          Though Greer called them “very durable,” they are based on a provision of a 1974 trade law known as Section 122 and expire after 150 days — unless Congress extends them.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Given the upcoming U.S. midterm elections, and tariffs being
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          deeply unpopular
         </a>
         <span>
          , lawmaker approval is uncertain at best.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Businesses have questions, too.
         </span>
         <span>
          A big issue is the state of
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          potential tariff refunds
         </a>
         <span>
          . Companies like Costco, Toyota, Goodyear and Alcoa have sought to reclaim levies they have paid, as have smaller importers.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “Our firm’s phone, emails, et cetera have blown up” with clients seeking refund advice, Lenny Feldman, a managing partner of Sandler, Travis &amp; Rosenberg, a law firm specializing in international trade, told DealBook on Friday after the court’s decision. He recommended that companies file for refunds.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The refund question is expected to be
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          resolved by the courts
         </a>
         <span>
          , Treasury Secretary Scott Bessent said yesterday. (Quinn Emanuel announced today that it had created a tariff refund litigation task force, a sign that Big Law sees a wave of such claims from their clients.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          A refund windfall would be the equivalent of a huge economic stimulus
         </span>
         <span>
          , economists reckon. But “with new tariffs coming in, it seems unlikely anyone will rush to lower prices to their customers,” Paul Donovan, the chief economist for UBS Global Wealth Management, wrote in a research note today.
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Novo Nordisk’s shares sink after its latest setback.
         </span>
         <span>
          The Danish drugmaker today reported that its next generation obesity injection
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          achieved less weight loss
         </a>
         <span>
          than an existing drug made by its rival Eli Lilly. Novo Nordisk is a pioneer in marketing semaglutide-based weight loss drugs, but has since
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          lost ground to Eli Lilly
         </a>
         <span>
          as it has struggled with production and other issues. Novo said it expected better results from higher-dose trials.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          A winter storm intensifies along the East Coast.
         </span>
         <span>
          More than
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          5,300 scheduled flights
         </a>
         <span>
          have been canceled, including nearly 90 percent of arrivals and departures at major New York area and Boston airports, and 40 million people remained under a blizzard warning from what could be a powerful
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          “super bomb” cyclone
         </a>
         <span>
          . Public transportation in and around New York City has been delayed or halted.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          State of the Union and earnings take center stage.
         </span>
         <span>
          President Trump is set to deliver his annual address tomorrow, with the future of his tariffs a major discussion point. Elsewhere, Workday, whose shares have been battered by artificial intelligence competition worries, and Home Depot report quarterly results tomorrow; Lowe’s, Nvidia and Salesforce go on Wednesday; and CoreWeave on Thursday.
         </span>
        </p>
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           </td>
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         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Beijing’s stronger hand?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          President Trump is scheduled to fly to Beijing in a matter of weeks for high-stakes talks, The Times
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          reported over the weekend
         </a>
         <span>
          . He is expected to push President Xi Jinping of China to increase purchases of American agricultural and industrial goods, while Beijing will most likely seek a détente on trade and the topic of Taiwan.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But the Supreme Court’s tariff ruling on Friday may have blunted a potent Trump negotiating tool, Grady McGregor reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The latest:
         </span>
         <span>
          The court decision removed a power he had used to impose stiff measures on a host of countries,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          including a 20 percent rate on China
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That ruling could give Beijing more leverage in upcoming talks, Joe Mazur, an analyst at Trivium China, a policy research firm, told DealBook. “Any decision that removes a tactical weapon from the Trump administration’s hand is welcome news in Beijing,” he said.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          China’s Commerce Ministry said today that it was making a “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          full assessment
         </a>
         <span>
          ” of the court’s decision.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Trump has other options.
         </span>
         <span>
          The ruling may play only a limited role in negotiations, other analysts say, especially given the president’s willingness to pivot to other legal justifications for tariffs. Trump invoked another legal measure to impose new levies, a move that Beijing officials appeared to criticize.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “From Beijing’s perspective, the legal vehicle matters less than the strategic direction,” said Henry Gao, a law professor at Singapore Management University.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          More aggressive measures remain on the table.
         </span>
         <span>
          They include ratcheting up export controls to further limit China’s access to advanced U.S. technology.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Trump had appeared focused on building a “good relationship” with Beijing rather than continuing tit-for-tat measures, Mazur said. Will the Supreme Court ruling force the president to get more aggressive now?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Beijing may see the ruling as supporting its long-term trade strategy.
         </span>
         <span>
          China
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          leveraged rare earth exports
         </a>
         <span>
          to ultimately win concessions from Trump, including a temporary reprieve from tariffs.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In recent weeks, it also
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          rolled out the red carpet
         </a>
         <span>
          to U.S. allies, including the Canadian and British prime ministers, Mark Carney and Keir Starmer, whose countries have also faced tariffs.
         </span>
        </p>
        <table width="100%">
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           </td>
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        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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            <img alt="Susan Rice, a former top official in the Biden and Obama administrations, is seen seated a table wearing a brightly checkered blouse." class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F02%252F23%252Fmultimedia%252F23db-rice-mkgb%252F23db-rice-mkgb-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzE4NTM1MzkuMjk3MTY0fQ:1vuW2t:Sz8aV8AoFBxnsWSdutYZ1HJZPfxBAL_0jNhO2n511io" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              President Trump has demanded that Susan Rice, a former top official in the Biden and Obama administrations, be fired from Netflix’s board.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Doug Mills/The New York Times
             </span>
            </span>
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         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Netflix and a new Trump threat
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Today is the deadline for Paramount to make its best-and-final takeover offer to Warner Bros. Discovery and persuade its fellow media company to walk away from Netflix.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          A big question is whether Paramount would increase its price. (Variety just reported that it may
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          bump its bid to $32 a share
         </a>
         <span>
          .) But a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          new demand by President Trump
         </a>
         <span>
          raises the question of whether another Paramount argument — that its bid is more likely to win regulatory approval — is worth factoring in, too.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Trump unexpectedly demanded that Netflix fire Susan Rice from its board.
         </span>
         <span>
          His anger appeared to arise from comments that Rice, a former top official in the Obama and Biden administrations, had made
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          on the “Stay Tuned With Preet” podcast
         </a>
         <span>
          . She advised that Democrats, if they regain power, shouldn’t “forgive or forget” companies that “bent the knee” to Trump:
         </span>
        </p>
        <p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
         <span>
          Whether you’re a law firm, whether you’re a university, whether you’re a media entity, whether you’re a big corporation, whether you’re Big Tech, you need to play a long game, not this short game that has been so detrimental.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:20px 0 15px">
         <span>
          After Laura Loomer, a right-wing agitator, flagged Rice’s comments,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Trump wrote on social media
         </a>
         <span>
          , “Netflix should fire racist, Trump Deranged Susan Rice, IMMEDIATELY, or pay the consequences.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Does this meaningfully change the equation?
         </span>
         <span>
          It’s unclear — though few investors probably believed that Trump would stay out of the government’s review of the Netflix deal. (As
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Peter Kafka of Business Insider notes
         </a>
         <span>
          , the president said in December that he would be involved, and then later reversed course.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Many on Wall Street and Hollywood have questioned whether Trump would put pressure on the Justice Department, which is
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          reviewing the Netflix deal
         </a>
         <span>
          on antitrust grounds. Netflix has insisted all along that its deal can
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          pass antitrust muster
         </a>
         <span>
          and that Paramount’s offer carries its own competitive issues.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Stay tuned for:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
           <tr>
            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Whether Netflix does anything with Rice. Ted Sarandos, a Netflix C.E.O. said of Trump’s post, “
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                He likes to do a lot of things
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                on social media.”
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Whether Paramount in fact raises its offer.
               </span>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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           <td height="10">
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A lawsuit over Wall St. working hours ends
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          A court battle that had Wall Street riveted is over before the fireworks really started.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Centerview Partners, the prominent boutique investment bank,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          settled a lawsuit
         </a>
         <span>
          by a former analyst over its demands for
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          long working hours
         </a>
         <span>
          . The case had threatened to take a longstanding issue in the banking world to perhaps its most public venue yet.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The context:
         </span>
         <span>
          Kathryn Shiber said she had been fired just 10 weeks into a three-year analyst program. According to the lawsuit, which she filed in 2021, she had informed the firm that she had a medical condition that required her to sleep at least eight to nine hours a night consistently.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Centerview initially gave her a work-free window from midnight to 9 a.m., according to the lawsuit, but then it told her that wasn’t working — and then that she should have known the contours of a junior M.&amp;A. banker’s arduous schedule. The bank added that Shiber’s arrangement put more stress on other associates.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Firms have moved to limit young workers’ round-the-clock schedules in recent decades.
         </span>
         <span>
          The issue returned to the fore in 2024, after a Bank of America junior banker and former Green Beret
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          died of a blood clot
         </a>
         <span>
          after pulling several 100-hour work weeks in a month, though there’s no evidence that the workload led to his death. That year, The Wall Street Journal reported that Bank of America associates were told to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          ignore restrictions on their hours
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          After the death of the Bank of America associate, JPMorgan Chase and Bank of America
         </span>
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          introduced new measures
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          Shiber’s lawsuit could have exposed financial details about Centerview,
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          including revenues and profits. (The bank is privately held.) Top executives, including a president, Tony Kim, were set to testify, though the presiding judge rejected Shiber’s bid to put the Centerview co-founder Robert Pruzan on the stand.
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          Centerview didn’t disclose terms of the settlement.
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          But a spokesperson for the bank said in a statement that Shiber’s legal claims “have no merit” and that the firm was “confident we would have prevailed at trial.”
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            <span>
             THE SPEED READ
            </span>
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          Deals
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        <div style="margin:0 auto;max-width:600px;width:100%">
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Latham &amp; Watkins hired
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                two more partners
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                from a rival, Wachtell, Lipton, Rosen &amp; Katz, as corporate law firms battle for top rainmakers in a busy deal market. (FT)
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              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                “The Fund-Raising Tactic
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                A.I. Start-Ups Are Using to Juice Valuations
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ” (WSJ)
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          Politics, policy and regulation
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                “RFK Jr.’s days of
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                going wild on health
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                may be over” (Politico)
               </span>
              </li>
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                JPMorgan Chase
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                admitted that it had closed
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                President Trump’s personal and business bank accounts shortly after his first term ended. (NYT)
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          Best of the rest
         </span>
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                NBC’s viewership numbers for the Winter Olympics
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                were nearly double
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                those of the 2022 Games in Beijing — before the U.S. men’s hockey team
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                beat Canada in a 2-1 overtime thriller
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                . (Front Office Sports, The Athletic)
               </span>
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Critics say training A.I. consumes a lot of resources. Sam Altman of OpenAI argues that
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                raising humans does, too
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                . (TechCrunch)
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