Business News from The New York Times

In the latest business news from the New York Times on May 1, several significant developments have taken place in the corporate world.

– Tesla (TSLA.O) made headlines by dismissing approximately 500 employees from its Supercharger team, responsible for building electric vehicle charging stations. This move comes as a surprise and raises questions about the company’s future plans.

– Changpeng Zhao, the former CEO of Binance, received a four-month prison sentence after pleading guilty to a money-laundering violation last year. This development sheds light on the legal challenges faced by cryptocurrency exchanges.

– Retail giant Walmart (WMT.N) announced the closure of 51 health care centers, a network it had previously planned to expand. This decision reflects the company’s strategic shift in focus.

– U.S. Treasury Secretary Janet Yellen defended a global corporate tax deal against criticism from Republicans, who argue that it could harm U.S. revenues. Yellen emphasized the importance of including allowances for the U.S. research and development tax credit.

These stories highlight the dynamic nature of the business world and the challenges faced by companies in various industries. Stay tuned for more updates on these developments and their impact on the market.