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The Trump Organization is convicted of tax fraud, China lifts 'zero-COVID' testing and isolation restrictions, and more [What makes a subscription to The Week so valuable now? Click here.]( [The Week Logo]( [Subscribe to The Week magazine]( [Subscribe to The Week magazine]( Daily business briefing 1. [Trump Organization found guilty of tax fraud]( A Manhattan jury on Tuesday found [former President Donald Trump's family real estate business guilty of criminal tax fraud]( and other financial crimes in a 15-year scheme to dodge taxes by compensating top executives with luxury apartments and automobiles, private school tuition for their relatives, and other fancy perks. Prosecutors said the case demonstrated a "culture of fraud and deception" at two Trump Organization entities — Trump Corp. and Trump Payroll Corp. The Manhattan district attorney's office got the Trumps' long-serving chief financial officer, Allen Weisselberg, to plead guilty and testify about the scheme, which he orchestrated. Trump and his eldest sons, who run the company, were not directly implicated. Trump said he was "disappointed with the verdict" and would appeal. [[The New York Times]( [CNN]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Trump+Organization+found+guilty+of+tax+fraud&body=Read the story here: utm_campaign=business_briefing_newsletter_20221207&utm_source=business_briefing_newsletter) 2. [China eases toughest 'zero-COVID' restrictions]( China announced Wednesday that it was lifting some of the most severe restrictions under its "zero-COVID" policy. The policies had ignited a rare outburst of anti-government protests, with some demonstrators calling for President Xi Jinping to step down. Beijing said people who get infected now can quarantine at home instead of isolating in government facilities if they are asymptomatic or have mild symptoms. Citizens also no longer have to show negative coronavirus tests for most public venues, and can travel more freely within China. Lockdowns that have damaged the country's economy now will be more narrowly targeted, focusing on buildings or floors instead of entire neighborhoods and towns, and will be lifted after five days with no new infections. [[BBC News]( [Forbes]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=China+eases+toughest+'zero-COVID'+restrictions&body=Read the story here: utm_campaign=business_briefing_newsletter_20221207&utm_source=business_briefing_newsletter) Sponsored Content By reAlpha [3 Reasons to Invest in This Tech Company]( [Sponsored Content By reAlpha]( 3. [2 women sue Apple, saying stalkers used AirTags to track them]( Two women, one from Texas and one from New York, filed a class-action lawsuit against Apple this week saying their ex-romantic partners had used the company's AirTag devices to stalk them. The lawsuit accused Apple of insufficient privacy protections, resulting in an "unreasonably dangerous product" that lets stalkers use the devices, barely larger than a quarter, to track their locations, potentially putting them at risk. One of the plaintiffs said her ex-boyfriend hid an AirTag in a wheel well in her car and followed her. The other said her estranged husband harassed her after hiding one in her child's backpack. Apple said earlier this year it was working with safety and law-enforcement groups to find ways to discourage unwanted tracking with AirTags. [[CNN]( [Gizmodo]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=2+women+sue+Apple,+saying+stalkers+used+AirTags+to+track+them&body=Read the story here: utm_campaign=business_briefing_newsletter_20221207&utm_source=business_briefing_newsletter) 4. [Stock futures slip further as recession fears rise]( U.S. stock futures fell slightly early Wednesday after a two-day selloff. Futures tied to the Dow Jones Industrial Average and the S&P 500 were down 0.1 percent and 0.3 percent, respectively, at 6:45 a.m. ET. Nasdaq futures were down 0.4 percent. The Dow and the S&P 500 fell 1.0 percent and 1.4 percent, respectively, on Tuesday. The tech-heavy Nasdaq dropped 2.0 percent as investors grew increasingly concerned that the Federal Reserve's aggressive interest rate hikes to tame high inflation would tip the economy into a recession. "Fears are growing that economies are in for a rough time ahead as feverish inflation and the bitter interest rate medicine being used to bring it down take effect," Susannah Streeter, an analyst at broker Hargreaves Lansdown, told Barron's. [[CNBC]( [Barron's]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Stock+futures+slip+further+as+recession+fears+rise&body=Read the story here: utm_campaign=business_briefing_newsletter_20221207&utm_source=business_briefing_newsletter) Sponsored Content By reAlpha [Should You Invest in This Real Estate Startup?]( [Sponsored Content By reAlpha]( 5. [Musk fires a top Twitter lawyer over 'Twitter Files']( Elon Musk tweeted Tuesday that Twitter Deputy General Counsel Jim Baker, one of the social media platform's top lawyers, "was exited" from the company. Musk indicated that Baker's departure was linked to his release of internal communications he says showed biased policy decisions at the company before his recent takeover, including the suppression of a story about Hunter Biden's laptop. Musk, who has fired several top Twitter executives since completing his $44 billion acquisition of the company, has said the "Twitter Files" show previous management sought to benefit Democrats. Baker did not respond to The Wall Street Journal's request for comment on Tuesday. [[The Wall Street Journal]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Musk+fires+a+top+Twitter+lawyer+over+'Twitter+Files'&body=Read the story here: utm_campaign=business_briefing_newsletter_20221207&utm_source=business_briefing_newsletter) [Read more business stories at theweek.com]( MOST POPULAR [Related image]( [Trump Organization found guilty of tax fraud, financial crimes]( Rafi Schwartz [Related image]( [Al Franken to return to TV as Daily Show guest host for departing Trevor Noah]( Rafi Schwartz [Related image]( [iPod creator launches new crypto wallet as industry fallout continues]( Justin Klawans [Related image]( [Jan. 6 Congressional Gold Medal recipients snub GOP officials: 'It's self-explanatory']( Rafi Schwartz [Related image]( [Harry and Meghan Netflix doc trailers accused of misleading use of stock footage]( Brendan Morrow [Speed reads banner] [Article image]( [Texas will get more electricity from solar and wind power than natural gas next year, EIA projects]( December 7, 2022 [Article image]( [Stax Records founder Jim Stewart, who helped produce the 'Memphis sound,' is dead at 92]( December 7, 2022 [Article image]( [8 bad things that have happened to Trump in the 3 weeks since he launched his presidential campaign]( December 7, 2022 [Article image]( [Herschel Walker's son Christian says he made 'a fool' of his family during Senate run]( December 6, 2022 [Read more of today's best articles at theweek.com]( [What makes a subscription to The Week so valuable now? 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