Wynn resigns amid allegations

Casino mogul Stephen Wynn resigned Tuesday as chairman and chief executive of his company, Wynn Resorts, in response to sexual harassment accusations spanning decades. Wynn said in a statement that he was stepping down because “an avalanche of negative publicity” had created an environment “in which a rush to judgment takes precedence over everything else, including the facts.” A Wall Street Journal investigation, published last month, found that Wynn had harassed female employees for decades. He denied the allegations.

U.S.-China trade gap at new high

The U.S. trade deficit with China climbed to its highest level on record. The gap between Chinese goods imported to the U.S. and American goods exported to China rose to $375.2 billion last year, up from $347 billion the prior year, data released Tuesday morning showed. The overall U.S. trade deficit in goods and services with the world widened 12.1 percent to $566 billion last year, the largest gap since 2008. The Trump administration has long promised to eliminate the trade gap, citing it as evidence of the decline of American manufacturing and a reliance on foreign goods.

Dalai Lama quote causes backlash

The German carmaker Daimler publicly apologized Tuesday after its Mercedes-Benz brand caused an outcry in China by quoting the Dalai Lama in a social media post. The move by the automaker is the latest example of a foreign company being cowed by the growing power of an increasingly nationalistic consumer market. The Instagram post, which was deleted, featured a quote popularly attributed to the Dalai Lama: “Look at the situations from all angles, and you will become more open.” Many in China view the Dalai Lama as a dangerous voice for separatism in Tibet.