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Weinstein Company to file for bankruptcy

Harvey Weinstein at Cannes Film Festival. Photo: YANN COATSALIOU / AFP via Getty Images

The Weinstein Company has announced that it plans to file for bankruptcy after a last effort to sell the company fell through, according to a statement provided to the LA Times.

Why it matters: The company's co-founder and namesake, Harvey Weinstein, was slammed with a myriad of sexual assault and harassment claims in the fall of last year. Weinstein was subsequently forced out of his company, removed from the academies, and the L.A. Police Department opened a criminal investigation into the allegations of misconduct and rape.

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Axios
7 mins ago - World

NYT: Biden won't immediately remove U.S. tariffs on China

President-elect Joe Biden during an event in Wilmington, Delaware, on Tuesday. Photo: Alex Wong/Getty Images

President Trump's 25% tariffs imposed on China under the phase one trade deal will remain in place at the start of the new administration, President-elect Biden said in an interview with the New York Times published early Wednesday.

Details: "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. He plans to conduct a full review of the current U.S. policy on China and speak with key allies in Asia and Europe to "develop a coherent strategy," he said.

Go deeper (1 min. read)Arrow
Axios
3 hours ago - Politics & Policy

Trump threatens to veto Defense spending bill over social media shield

Photo: Erin Schaff - Pool/Getty Images

President Trump tweeted Tuesday a threat to veto a must-pass end-of-year $740 billion bill defense-spending authorization bill unless Congress repeals a federal law that protects social media sites from legal liability.

Why it matters: Trump's attempt to get Congress to end the tech industry protections under Section 230 of the Communications Decency Act is the latest escalation in his war on tech giants over what he and some other Republicans perceive as bias against conservatives.

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Margaret Talev, Kadia Goba
3 hours ago - Politics & Policy

The walls close in on Trump

Photo: Tasos Katopodis/Getty Images

With Bill Barr's "Et tu, Brute!" interview with AP, President Trump is watching the walls close in on his claims of fraud, hoaxes and conspiracies.

Why it matters: Trump and his legal team continue to claim election fraud. But the Republican governors of Arizona and Georgia have certified their elections, a loyalist like Barr has weighed in, and lower-ranking officials have taken potshots.

Go deeper (1 min. read)Arrow