Sequestration Takes Effect, but Impact Is Not Immediate

WASHINGTON — University officials, city managers, day care providers and others spent Saturday assessing how they would absorb their part of the across-the-board cuts in federal spending that began taking effect over the weekend. But even as the institutions that depend on federal money nervously took stock, most Americans were largely unaffected by the cuts, at least for now. At Los Angeles...

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Hasbro Expands Transformers Brand Into New Media

Marcus Yam for The New York TimesRyan Yzquierdo, who has been a Transformers fan since he was 7, is introducing his daughter to the franchise. To Hasbro, no one is too young or too old to play with a Transformers robot, watch a Transformers television show or play a Transformers video game. The toy maker started the Transformers franchise with a Japanese partner in 1984. The concept — robots...

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DealBook: Breuer Reflects on Prosecutions That Were, and Weren’t

After spending four years under the microscope as he led investigations of some of the world’s biggest banks, Lanny A. Breuer hasn’t lost his swagger.The 54-year-old prosecutor, with a Rolodex as thick as his Queens dialect, will leave the Justice Department on Friday, emboldened after mounting recent cases against banking giants. But Mr. Breuer, the department’s criminal division chief, also leaves...

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Advertising: Paper Finds a Fit in a Wi-Fi Society

AN effort by a giant paper maker to promote the value of using paper is turning to everyday situations after spending more than two years at the office. The switch in subject matter began last week, when the Domtar Corporation and its agency, the Charlotte, N.C., office of Eric Mower & Associates, added four video clips-cum-commercials to a campaign that carries the theme “Paper because.”...

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DealBook: Nominee for S.E.C. Tries to Allay Skepticism

Mary Jo White’s path to the Securities and Exchange Commission has reached a crucial juncture: the Congressional charm campaign.Lawmakers are scrutinizing Ms. White ahead of her Senate confirmation hearing, raising questions about the former prosecutor’s lack of regulatory experience and the challenge of policing Wall Street firms she recently defended in private practice. But Ms. White is seeking...

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DealBook: Confirmation Hearing for Mary Jo White Said to Be Scheduled for March

Mary Jo White appears poised to face a Senate confirmation hearing next month, a crucial step for the former federal prosecutor on her path to becoming the top Wall Street regulator.Ms. White, whose nomination to lead the Securities and Exchange Commission has lingered for over a month, plans to testify in March before the Senate Banking Committee, three Congressional officials briefed on the matter...

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DealBook: J. Crew Chief and American Express Invest in Warby Parker

Warby Parker, the hip purveyor of retro-style glasses, has solidified ties with two of its most prominent fans.Now the three-year-old start-up can count Millard S. Drexler, the chief executive of J. Crew, and American Express as participants in its latest round of financing, which closed last month at $41.5 million.The two join an already expansive group of investors that includes General Catalyst...

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Major Banks Aid in Payday Loans Banned by States

Major banks have quickly become behind-the-scenes allies of Internet-based payday lenders that offer short-term loans with interest rates sometimes exceeding 500 percent. With 15 states banning payday loans, a growing number of the lenders have set up online operations in more hospitable states or far-flung locales like Belize, Malta and the West Indies to more easily evade statewide...

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Fed Officials Debate Bank’s Losses Once Economy Mends

The Federal Reserve’s plans for the eventual wind-down of its economic stimulus campaign could provoke a political reaction that will make it more difficult to control inflation, a current Fed official and a former Fed governor said Friday. Peter Newcomb/ReutersJames Bullard, president of the St. Louis Fed, sees political fallout from coming losses. Pat...

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Media Decoder: CNBC Buys ‘Nightly Business Report’ From Atalaya

“Nightly Business Report,” the pioneer public television series that has struggled in recent years, is getting a new, deep-pocketed commercial owner, the 24-hour business cable channel CNBC, a unit of Comcast’s NBCUniversal.CNBC announced on Thursday that it would buy the rights to the show, available in 96 percent of television homes in the United States, from the investment firm Atalaya Capital...

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Hacking Victims Edge Into Light

Steve Ruark for The New York TimesAlan Paller of the SANS Institute said recently hacked companies were seeking safety in numbers. SAN FRANCISCO — Hackers have hit thousands of American corporations in the last few years, but few companies ever publicly admit it. Most treat online attacks as a dirty secret best kept from customers, shareholders and competitors, lest the disclosure sink their stock...

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A Digital Shift on Health Data Swells Profits

Jeff Swensen for The New York TimesDr. Vivek Reddy, a neurologist at the University of Pittsburgh Medical Center, also works on its digital records effort. It was a tantalizing pitch: come get a piece of a $19 billion government “giveaway.” The approach came in 2009, in a presentation to doctors by Allscripts Healthcare Solutions of Chicago, a well-connected player in the lucrative business...

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DealBook: Prosecutors, Shifting Strategy, Build New Wall Street Cases

Criticized for letting Wall Street off the hook after the financial crisis, the Justice Department is building a new model for prosecuting big banks.In a recent round of actions that shook the financial industry, the government pushed for guilty pleas, rather than just the usual fines and reforms. Prosecutors now aim to apply the approach broadly to financial fraud cases, according to officials involved...

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The Education Revolution: In China, Families Bet It All on a Child in College

Chang W. Lee/The New York TimesWu Caoying studied English under her father’s watchful eye in 2006. She is now a sophomore in college. More Photos »HANJING, China — Wu Yiebing has been going down coal shafts practically every workday of his life, wrestling an electric drill for $500 a month in the choking dust of claustrophobic tunnels, with one goal in mind: paying for his daughter’s education. ...

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Robo-Signing Fraud Case Is Settled

The mortgage servicing company Lender Processing Services agreed to pay $35 million to resolve a federal criminal investigation into foreclosure fraud, the Justice Department said on Friday. The settlement resolves allegations over the company’s involvement in what the government called a six-year scheme to prepare and file more than 1 million fraudulently signed and notarized mortgage...

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DealBook: Confidence on Upswing, Mergers Make Comeback

The mega-merger is back.For the corporate takeover business, the last half-decade was a fallow period. Wall Street deal makers and chief executives, brought low by the global financial crisis, lacked the confidence to strike the audacious multibillion-dollar acquisitions that had defined previous market booms.Cycles, however, turn, and in the opening weeks of 2013, merger activity has suddenly roared...

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Japanese Economy Contracts and Remains in Recession

TOKYO (AP) — Japan’s economy remained mired in recession late last year, shrinking 0.4 percent in annualized terms for the third straight quarter of contraction on feeble demand at home and overseas. The government reported Thursday that growth for all of 2012 was 1.9 percent, after a 0.6 percent contraction in 2011 and a 4.7 percent increase in 2010 and a 5.5 percent contraction in 2009....

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