Business
South Korean President Lee to meet with Trump in Washington on Monday
Anthony Kuhn SEOUL, South Korea — En route to his first summit with President Trump, South Korea’s president has pushed back against U.S. pressure to refocus his country’s 71-year-old military alliance with the U.S. away from deterring North Korea and toward countering China. “This is not an issue we can easily agree with,” Lee Jae-myung…
Boxed in by shifting tariff rules, European shippers pause some U.S.-bound parcels
Camila Domonoske Many European parcel companies — including DHL, the Royal Mail, and the French and Spanish national post offices — are temporarily suspending some shipments to the U.S., citing new U.S. tariff policies that kick in this week. And while the financial costs of tariffs have dominated trade news this summer, in this case,…
Fed Chair Jerome Powell signals possible rate cut, sending stocks sharply higher
Scott Horsley Federal Reserve Chairman Jerome Powell signaled a possible cut in interest rates in the near future, sending stocks soaring on Friday. Speaking to a gathering of economists and central bankers in Jackson Hole, Wyo., Powell said current economic conditions, including a marked slowdown in job growth, suggest a downward adjustment in the Fed’s…
Businesses face ‘chaos’ as EPA aims to repeal its authority over climate pollution
By Michael Copley The Trump administration’s plan to undo a landmark finding that climate pollution threatens public health and welfare poses lots of risks for corporate America. The Environmental Protection Agency’s endangerment finding has served as the legal basis for federal climate regulations under the Clean Air Act since 2009. The finding concludes that the…
Private equity and crypto could be heading for your 401(k). Here’s what to know
Laurel Wamsley The funds in most retirement accounts are pretty basic: stocks and bonds. Now, an executive order signed by President Trump aims to lay the groundwork for an array of “alternative assets,” including cryptocurrency, real estate and private equity, to be included in 401(k) and similar accounts. These accounts are retirement plans offered by…
Trump is tightening the screws on corporate America — and CEOs are staying mum
By Maria Aspan Corporate America doesn’t want to fight with President Trump in public. But as a result, it’s ceding him an unprecedented amount of control over the shape — and future — of U.S. business. In the past week, the president has turned up the heat on big companies and their CEOs to an…
Trump’s China trade truce extension spurs market rally
Bourses in Australia and Japan hit record highs as hopes grow of trade deal within latest 90-day pause Business live – latest updates George Magus: Why Peak China may finally have arrived Donald Trump’s decision to extend a truce in the trade war with China for another 90 days triggered a stock market rally across…
China’s crackdown on lavish civil servant perks will ‘harm’ the economy, experts warn
Updated regulations ban the country’s 40 million civil servants from lavish banquets, and restrict them from overseas travel for ‘personal leisure’ Adjacent to a municipal government building in Beijing, a normally bustling restaurant is now eerily quiet, at lunchtime most of its seats are empty. The recent crackdown on civil servants frequenting restaurants – part…
Trump’s tariff revenue has skyrocketed. But how big is it, really?
Danielle Kurtzleben Trump has long sold his tariff plan as a new source of cash for the government. And with his recent moves, tariffs are adding tens of billions of new dollars to federal revenue. Last month, the Department of the Treasury brought in more than $29 billion in “customs and excise taxes” — a…
State Department may require visa applicants to post bond of up to $15,000 for entry
By The Associated Press The State Department is proposing requiring applicants for business and tourist visas to post a bond of up to $15,000 to enter the United States, a move that may make the process unaffordable for many. In a notice to be published in the Federal Register on Tuesday, the department said it…
BP makes major oil and gas discovery off Brazil coast
Company renews focus on fossil fuels and believes Santos basin could be its largest find since 1999 Business live – latest updates BP has made its largest oil and gas discovery of the past 25 years off the coast of Brazil as it continues to shift its focus back to fossil fuels. The Santos basin…
HSBC boss says Rachel Reeves putting up bank taxes would harm UK growth
Georges Elhedery’s comments come amid speculation the chancellor could make such a move in autumn budget Business live – latest updates The boss of HSBC has joined a growing chorus of bankers cautioning Rachel Reeves against increasing taxes on banks in her autumn budget, warning it risked “eroding” investment and ultimately harming UK growth. Georges…
Here’s a puzzling question: Why are stocks at record highs despite looming tariffs?
By Rafael Nam From businesses to Americans across the country, everybody seems worried that the economy will be hit badly if the massive tariffs threatened by President Trump go into effect this week on Aug. 1. Yet anybody who has looked recently at their 401(k) statements or retirement accounts will have noticed something surprising: Stocks…
Trump announces trade deal with Japan that lowers threatened tariff to 15%
By The Associated Press WASHINGTON — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will…
In Britain, hopes are mounting to finally clean up sewage-polluted waterways
By Willem Marx MARLBOROUGH, England — After years of illegal polluting by Britain’s water industry, an independent report planned for release in the coming days could lead to tightened regulation while also prompting an expensive modernization drive. The report, led by a former deputy governor of the Bank of England, Jon Cunliffe, was commissioned by…
Why the Federal Reserve’s building renovations are attracting the White House’s ire
Scott Horsley A multi-billion dollar makeover of the Federal Reserve’s offices in Washington, D.C., has become the latest skirmish in an ongoing battle between the White House and the central bank. The cost of the building project has soared from $1.9 billion to $2.5 billion in recent years. That’s become a new line of attack…
Rubio in bind as he seeks to reassure south-east Asia, even as it faces Trump tariffs
Rubio meets Chinese counterpart at gathering, as questions remain about US trade polices and commitment to region Even as they face among the most punitive tariffs globally, the US secretary of state, Marco Rubio, has sought to reassure south-east Asian countries of Washington’s commitment to the region, saying they may get “better” trade deals than…
Here’s a list of Trump’s tariff letters so far and the rates they threaten
Danielle Kurtzleben President Trump’s trade policy has been unpredictable, and that continues with letters he’s been writing to foreign leaders informing them of the tariff rates he intends to impose on their countries’ goods on Aug. 1. The letters represent a radical approach to trade policy, with the president setting sizable tariff rates on a…
Waste Wars Tracks the ‘Wild Afterlife’ of Garbage on an International Black Market
Your Garbage Has a ‘Wild Afterlife’ on the International Black Market Alexander Clapp, author of new nonfiction book ‘Waste Wars,’ tracks the world-wide blackmarket trade of our garbage By Brianne Kane edited by Andrea Gawrylewski Sorting your trash and recycling is common practice: break down the cardboard boxes, separate the compostable material and plastics and…
Rising poverty in conflict zones ‘causes a billion people to go hungry’
In first assessment since pandemic in 2020, World Bank urges other countries to step up support Extreme poverty is accelerating in 39 countries affected by war and conflict, leaving more than a billion people to go hungry, according to the World Bank. Civil wars and confrontations between nations, mostly in Africa, have set back economic…
Can a new paper defuse climate infighting?
To fix climate, all the tools need to be on the table, experts say. How much can — or should — humanity rely on nature to help solve the climate crisis? It’s a debate that readers of this news site know well. In 2024, two Conservation International scientists responded to a study that was dismissive…
Australia risks losing ‘war on nicotine’ in same way as war on drugs as illegal tobacco sales explode
Authorities should take a ‘harm reduction’ approach, removing excise for a period and making vapes more available, experts argue Get our breaking news email, free app or daily news podcast Australia is now waging a “de facto war on nicotine” that is doomed to fail in the same way as previous prohibition-style policies, experts say,…
Cloudy with a chance of showers? Fed’s economic forecast coming today
Scott Horsley The Federal Reserve is expected to hold interest rates steady Wednesday, as policymakers wait to see how President Trump’s tariffs and fighting in the Middle East will affect the U.S. economy. The Fed has been in a holding pattern since December, after cutting rates by a full percentage point last year. Investors who…
Purdue Pharma, Sacklers reach new $7.4 billion opioid settlement
Brian Mann All 50 states as well as the District of Columbia and U.S. territories have approved a $7.4 billion settlement with Purdue Pharma, maker of Oxycontin, over the company’s improper marketing of opioids. The deal was filed with a federal bankruptcy court by Purdue Pharma officials in March after negotiations with state attorneys general…
BYD launches cheapest UK model in bid to overtake Tesla as biggest electric carmaker
Dolphin Surf will start at £18,650 – among the cheapest new vehicles on sale in Britain Business live – latest updates The Chinese manufacturer BYD has launched its cheapest model in the UK, in the latest stage of its efforts to overtake Tesla as the world’s biggest electric carmaker. The Dolphin Surf will start at…
Trump trade deal shows how vital China’s rare-earth metals are to US defense firms
Draft agreement may reassure top US military suppliers after president’s tariffs flip-flopping threatened production The draft trade agreement with China announced by Donald Trump on Wednesday would ease concerns from top US military suppliers about rare-earth metals and magnets that, if cut off permanently, could hobble production of everything from smart bombs to fighter jets…
Trump’s trade war is raising money for the government, but at whose expense?
Scott Horsley President Trump has been promising his tariffs will help make America more prosperous. There’s already evidence that tariffs are helping the government’s bottom line. The federal government collected $68.9 billion in tariffs and excise taxes during the first five months of the year, according to Treasury Department data collected by the Bipartisan Policy…
High-rise, high expectations: is Casablanca’s finance hub a model for African development?
Morocco’s commercial centre has brought investment to the continent – but critics say it masks domestic inequality For centuries, Casablanca was a significant trading hub for merchants from across the breadth of the Atlantic coast, given its geographical position between Africa, the Middle East and Europe. These days, Morocco’s economic capital is merging those historical…
Hawai‘i passes landmark tourist fee to fight climate change
A small fee stands to make a big impact in Hawai‘i. Hawai‘i lawmakers passed a groundbreaking bill that will impose a small tax on visitors in an effort to protect the islands from the growing risks of a warming planet. Funds generated by this “green fee,” as it is being called, will be used to…
In reversal, Trump administration restores classes at the National Fire Academy
Frank Langfitt The Trump administration is restoring in-person training at the National Fire Academy in tiny Emmitsburg, Md., after abruptly pausing it in March. The Federal Emergency Management Agency, which oversees the academy, initially paused on-site classes, saying the government would no longer pay for travel for programs it did not deem “mission critical.” On…
Two officials fired by Trump return to court to challenge his power
Andrea Hsu Appellate judges in Washington, D.C., will consider a key question on Friday: Does the president have the Constitutional authority to fire board members at agencies created by Congress to be independent of the White House? More specifically: Did President Trump overstep when he removed National Labor Relations Board member Gwynne Wilcox and Merit…
Tariff troubles: A rubber duck museum is migrating to Canada to stay afloat
By Martha Ann Overland If you had to pick just one place to take the temperature of relations between the U.S. and Canada right now, consider The Rubber Duck Museum in Point Roberts, Wash. The museum is located in a small U.S. town attached to Canada, not the U.S. mainland. The only way to drive…
Americans are already seeing Trump’s tariffs kick in. They sent in receipts to prove it
Emily Feng Lots of new tariffs have already gone into effect and more are about to come online. There is the tax on auto parts that kicked in this month; duties on steel and aluminum; new levies on small value packages; 10% on most imports; a flat 145% customs fee on anything from China; and potentially even…
Xi announces plan for Chinese economy to counter impact of US trade war
Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products Xi Jinping has announced a plan to counter China’s continuing economic problems and the impact of the US trade war, as reports swirl that it could drop tariffs on some US products, including semiconductors. Friday’s meeting of the politburo…
Better Refrigerators, Washing Machines, Furniture and Tires Are Mandated for Europe’s Circular Economy
Europe Targets Clothes, Appliances and Tires in Crackdown on Wasteful Consumerism New European Union regulations will require products that last longer and are easier to recycle By James Fernyhough & E&E News Join Our Community of Science Lovers! CLIMATEWIRE | BRUSSELS — Textiles, furniture, tires and mattresses will be subject to much stricter design standards…
Tariffs threaten to push auto insurance rates even higher
Camila Domonoske A slew of new tariffs, including some specific to vehicles, have many Americans reassessing their plans to buy a car — moving them up to take advantage of today’s tariff-free pricing, or reevaluating whether they want a new car at all, given the economic uncertainty. President Trump has recently floated the idea of…
Earth Month: Shaping an economy built on nature
Editor’s note: April is Earth Month, when we honor humanity’s shared responsibility for nature and the climate. At Conservation International, this responsibility drives us — and in honor of Earth Month, Conservation News is highlighting stories of our impact. We hope that this inspires you to carry the spirit of Earth Month throughout the year.…
To instill confidence, China tries to reassure private entrepreneurs of support
Anthony Kuhn BEIJING — Every once in a while, China’s government makes a high-profile effort to right a wrong or rehabilitate a well-known person who has fallen from favor. They are gestures to restore public confidence in authorities. And restoring confidence is vital for China’s economy, as it struggles to maintain slowing growth amid a…
Why some are accusing Trump of manipulating stock markets
By Maria Aspan Wall Street has been whipsawed for more than a week by President Trump’s every word about tariffs. Now he’s facing accusations of using his power to deliberately manipulate the markets. The scrutiny started with a tale of two social-media posts. On Wednesday, shortly after the U.S. stock market opened, Trump posted on…
Asia markets soar, after President Trump pauses global tariffs
By Sherisse Pham HONG KONG – Asian markets soared on Thursday in line with Wall Street’s gains the day before, following President Trump’s announcement of a pause on his higher global tariffs. Hong Kong’s Hang Seng Index also gained 2%, while key indices in China also rose slightly. But investors are still looking to Beijing…
Mixed messages on tariffs raises scrutiny on Trump aides
Franco Ordoñez President Trump is boasting about the wheeling and dealing he’s doing to cut deals on steep new tariffs that take effect on Wednesday. But for weeks, his own aides have insisted that tariffs were not a bargaining chip. Trump has said he wants to see manufacturing return to the United States — the…
World markets regain some ground after Trump tariffs shock investors
By Willem Marx Shares in Europe and Asia rebounded slightly on Tuesday after several days of sustained sell-offs that saw equity markets crater since President Trump’s announcement of global trading tariffs. U.S. stock markets may now also be poised for a small jump at the start of the trading day, according to futures trading data…
Asian markets plunge with Japan’s Nikkei diving nearly 8% after big Wall St. meltdown
By The Associated Press BANGKOK — Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump’s tariff hikes and the backlash from Beijing. U.S. futures also signaled further weakness. The future for the S&P 500 lost 2.5% while that for the Dow Jones Industrial Average shed 2.1%. The…
Stocks sink in another brutal day, as Trump’s tariffs send global shockwaves
By Maria Aspan Wall Street is not Main Street — but this week, investors and consumers alike seem terrified of how President Trump’s tariffs could upend the global economy. The pain continued for U.S. stocks on Friday, a day after the stock market suffered its worst day in five years. Late on Friday morning, the…
What on Earth is a ‘conservation agreement’?
In this installment, we break down “conservation agreements,” an approach that helps conserve biodiversity while improving the quality of life for local communities. So: What is a ‘conservation agreement’? It’s a deal between a community and a group or person funding a conservation project (that could be a government, a non-profit, a foundation, a business…
New NASA maps will help Liberia chart course for a sustainable future
Within Liberia’s borders lies one of the last strongholds of intact forests in West Africa. But as Liberia’s economy recovers following years of civil war, experts fear that these forests — and other ecosystems across the country — could become victims of unsustainable oil palm development, urbanization and logging. To prevent this, the Liberian government must…
Markets in Asia and Europe fall following U.S. announcement of global tariffs
By The Associated Press BANGKOK — Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump ‘s announcement of big increases in tariffs on imports of goods from around the world. The double-digit tariff hikes sent shivers across world markets, as economists warned it raises the risk of recession.…
Today is Trump’s ‘Liberation Day.’ What does that mean for tariffs?
Danielle Kurtzleben On Wednesday, President Trump is set to unveil what he has been calling “reciprocal tariffs” — taxes on imported goods from a broad range of countries aimed at penalizing them for their trade barriers. It’s a push he is branding as “Liberation Day,” promising it will bring in foreign tariff revenues to be…
What on Earth is ‘natural capital’?
In this installment, we break down “natural capital,” a concept that could revolutionize the way nature is protected. What is “natural capital”? It’s the stock of renewable and non-renewable natural resources (e.g., plants, animals, air, water, soils, minerals) that combine to provide benefits to people. What kind of benefits are we talking about? The air…
German lawmakers approve huge defense and infrastructure spending
By The Associated Press BERLIN — Germany’s would-be next chancellor, Friedrich Merz, won lawmakers’ approval Tuesday for ambitious plans to loosen the nation’s strict debt rules for higher defense spending as doubts mount about the strength of the trans-Atlantic alliance, and to set up an enormous fund for investment in its creaking infrastructure. Merz passed…
For one former logging company, nature’s green is gold
Editor’s note: In the fight against climate change and wildlife extinction, businesses have to a key role to play. But how? Conservation International’s investment fund, CI Ventures, is helping startup companies fund new business models founded on the protection of nature. Here is one of them. The Amazon rainforest faced another difficult year in 2024,…
Mothers demand justice as London case over Brazil dam collapse concludes
Nineteen people died in the Mariana disaster, prompting a claim of up to £36bn claim against the mining firm BHP With tears in their eyes, mothers of children who died in Brazil’s worst environmental disaster – the 2015 Mariana dam collapse – demanded justice for their loved ones as submissions in their London lawsuit came…
Trump buys a Tesla with Elon Musk in tow, at the White House
Deepa Shivaram President Trump stepped into a car outside the White House on Tuesday afternoon — but not the usual high-security presidential limousine known as “The Beast.” Instead of the presidential motorcade of large, black SUVs lined up on the driveway of the South Lawn, there were five Teslas for Trump to peruse. Trump announced…
Trump announces double tariffs on Canadian steel and aluminum
Danielle Kurtzleben The day before steel and aluminum tariffs are set to go into effect, President Trump announced he would specifically set tariffs on Canadian steel and aluminum at double the rate of the rest of the world. “I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all…
Mark Carney to be Canada’s next Prime Minister
By Rebecca Rosman , Jackie Northam Mark Carney, the former central banker-turned-centrist politician, triumphed over Chrystia Freeland in Sunday’s Liberal Party leadership race, paving the way for him to succeed Justin Trudeau as Canada’s next prime minister. He is expected to be sworn in early this week. Carney, 59, whose resume is filled with decades…
How Trump’s Canada Tariffs Could Impact Both the U.S. and Canada
Tariffs President Trump’s plan to apply 25 percent tariffs on Canadian exports is set to start on Tuesday. They would deal a brutal blow to Canada’s economy. By Ian Austen Reporting from Ottawa It is not an exit anyone would have expected. Justin Trudeau will end his final days as Canada’s prime minister with the…
Private lunar lander Blue Ghost touches down on the moon
By The Associated Press CAPE CANAVERAL, Fla. — A private lunar lander carrying a drill, vacuum and other experiments for NASA touched down on the moon Sunday, the latest in a string of companies looking to kickstart business on Earth’s celestial neighbor ahead of astronaut missions. Firefly Aerospace’s Blue Ghost lander descended from lunar orbit…
As Ramadan Nears, Syrians Feel the Pinch of a Cash Shortage
Syria After Civil War The Assad dictatorship is out, but Syria’s economy is in chaos after a civil war and recent policy shifts. The situation is putting a damper on a typically festive season. The Assad dictatorship is out, but Syria’s economy is in chaos after a civil war and recent policy shifts. The situation…
Meeting Trump at White House, Zelenskyy hopes for continued aid in war with Russia
Joanna Kakissis KYIV — President Trump is set to meet Ukrainian President Volodymyr Zelenskyy at the White House today to sign a preliminary deal to give the U.S. access to Ukraine’s critical raw materials in exchange for possible aid in the future. It’s the first face-to-face meeting between Zelenskyy and Trump since Trump’s inauguration, and…
A movement is calling for an ‘economic blackout’ on Friday. Here’s what to know
By Chandelis Duster An organization is calling for a national boycott in the form of an “economic blackout” on Friday, urging Americans not to shop for 24 hours. This movement, spearheaded by The People’s Union USA, a grassroots group, follows the rollback of diversity, equity and inclusion initiatives at several companies, including Target. The boycott…
Missing British businessman’s body found in Kenyan forest
Campbell Scott, a senior director at Fico, was reported missing while in Nairobi for a three-day conference Police searching for a British businessman missing in Kenya have recovered a body, found in a sack in scrubland about 60 miles from Nairobi, reports said. Campbell Scott, 58, a senior director at the data analytics company Fico,…
Here’s what to know about Germany’s election this Sunday
Rob Schmitz BERLIN — An economic slump, an immigration crisis and the lifting of a security blanket provided for decades by its most powerful ally are on the minds of German voters as they head to the polls for Sunday’s national parliamentary election. The general election of the Bundestag, Germany’s lower house of parliament, was…
Key to protecting the ocean? Money and manpower, study finds
Editor’s note: You can draw lines on a map to “protect” an area of ocean, but does that mean that local communities and wildlife will be better off? According to new research, the answer is “not necessarily.” A new paper published in the journal Nature offers data to back up something conservationists have argued for…
UK marketplace sellers face ‘second Brexit’ hit from Trump’s US import rules
End of ‘de minimis’ policy for Chinese goods also expected to hit bigger fashion retailers such as Asos and Boohoo Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a…
Climate crisis contributing to chocolate market meltdown, research finds
Scientists say more-frequent hotter temperatures in west African region are part of reason for reduced harvests and price rises The climate crisis drove weeks of high temperatures in the west African region responsible for about 70% of global cacao production, hitting harvests and probably causing further record chocolate prices, researchers have said. Farmers in the…
Trump funding freeze could leave communities on their own as climate threats grow
By Michael Copley Removing lead paint and pipes. Cleaning up contaminated land. Monitoring pollution. Making houses more energy efficient. Installing solar panels in low-income neighborhoods. Those are some of the projects across the country that were cut off from federal funding when the Trump administration paused spending approved earlier by Congress. The sweeping move is…
Federal Reserve’s Jerome Powell says there’s no need to rush on interest rate cuts
Scott Horsley Don’t expect interest rates to fall any time soon. Federal Reserve Chair Jerome Powell told a Senate Committee Tuesday that with a strong job market and with inflation still elevated, he and his colleagues “do not need to be in a hurry” to cut interest rates. Powell also fielded questions about President Trump’s…
Trump says he will impose a 25% tariff on aluminum and steel imports
Scott Horsley President Trump says he plans to announce a 25% tax on all imported steel and aluminum, extending a trade battle he launched during his first term in the White House. The move has the potential to give a helping hand to domestic steel and aluminum makers, while also raising costs for businesses and…
China Strikes Back After Trump Imposes 10% Tariff on Goods
Trump Tariffs After a 10 percent tariff on Chinese products took effect on Tuesday, China announced retaliatory measures, including tariffs and an investigation of Google. By Ana Swanson and Chris Buckley Ana Swanson reported from Washington and Chris Buckley from Bangkok. Follow live updates on President Trump’s tariffs and the global fallout. Beijing responded swiftly…
World Indie Games: A New Era of Crowdfunding for Independent Developers
In the ever-evolving world of game development, crowdfunding has emerged as a game-changer, enabling independent studios and solo developers to bring their creative visions to life. Traditional funding models often impose high barriers to entry, forcing developers to seek publishers or private investors, which can lead to compromises in artistic vision and project autonomy. Crowdfunding,…
New Game Card “Beat”
🎮 BEAT Party Game Card: The Game That Takes Truth to the Limit is Now on Kickstarter If you’ve ever felt that a simple “Truth or Dare” wasn’t enough, BEAT Party Game Card is here to revolutionize how we play with the truth. This bold and exciting board game, created by Monkey Republic Games, has…
Former German President Horst Köhler dies at 81
By The Associated Press BERLIN — Horst Köhler, a onetime head of the International Monetary Fund who became a popular German president before stunning the country by resigning abruptly in a flap over comments about the country’s military, has died. He was 81. Köhler, who was head of state from 2004 to 2010, died Saturday…
Trump’s pick for Commerce Secretary is Howard Lutnick. Here’s what to know
Alina Selyukh We’re following the confirmation hearings for the incoming Trump administration. See our full politics coverage, and follow NPR’s Trump’s Terms podcast or to stay up to date. Who: Howard Lutnick Nominated for: Commerce Secretary You might know them from: Lutnick is a billionaire investor and long-time Wall Street CEO. What does this role do: The Commerce Department is responsible for enforcing…
5 economic papers that lit up our brains — and what they say about our confusing world
Greg Rosalsky We at Planet Money are constantly reading the work of economists and other social scientists to glean ideas, evidence and insights about the economy, and, more generally, the confusing world around us. Often this work provides the seeds for episodes or newsletters. But sometimes they’re just interesting things we learned privately, and we…
Exclusive: White House in talks to have Oracle and U.S. investors take over TikTok
Bobby Allyn The Trump administration is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app’s global operations, according to two people with direct knowledge of the talks. Under the deal now being negotiated by the White House, TikTok’s…
Trump pardons dark web marketplace creator Ross Ulbricht
Jenna McLaughlin President Trump fulfilled a campaign promise to Libertarian supporters on his second day back in office by pardoning the former creator and owner of an underground e-commerce website known for drug trafficking. Ross Ulbricht, also known as “Dread Pirate Roberts,” operated the anonymous digital marketplace known as Silk Road between 2011 and 2013,…
Australia exposed to modern slave labour imports and many businesses ‘ignoring the facts’, commissioner warns
The scale of Australia’s trade with blacklisted companies, revealed in Guardian investigation, prompts anger across the Uyghur community Australia’s new anti-slavery commissioner has called on the government to urgently address the “inadequacy” of its forced labour laws after revelations that it had allowed thousands of imports from Chinese companies blacklisted for their alleged links to…
All of the Day 1 executive actions Trump has announced so far
By Lexie Schapitl , Franco Ordoñez President-elect Trump is expected to sign a flurry of executive orders, memorandums and proclamations on Monday after he is sworn in, reversing many of his predecessors’ policies and reinstating actions from his first term in office. The actions are expected to address a range of issues, including campaign priorities…
Heavy snow and frigid temps put 70 million in the U.S. under winter storm warnings
By The Associated Press BOSTON — Tens of millions of residents along the East Coast are bracing for several inches of snow Sunday followed by dangerously cold temperatures that will take hold in much of the country from the Northern Plains to the tip of Maine. Winter storm warnings issued by the National Weather Service…
From GDP to trade, how well equipped is China’s economy for Trump 2.0? | Amy Hawkins
Beijing has prepared for increased tariffs but its actions will not be enough to offset falling demand from the US When Donald Trump enters the White House for the second time on 20 January, the view from the Oval Office will look very different to the one he encountered in 2017. A pandemic, the war…
Zyn nicotine pouches can be marketed in the U.S., the FDA says. What does this mean?
Jaclyn Diaz Federal health officials have authorized the marketing and sale of Zyn nicotine pouches, marking the first time the Food and Drug Administration authorized these popular products that go between a user’s gum and upper lip. After “an extensive scientific review,” the FDA said, the products were found to pose lower risks of cancer…
People are rushing to install solar panels before Trump becomes President
Jeff Brady The solar power industry is growing fast, accounting for more than half of all new electricity on the grid last year. But soon President-elect Trump and fellow Republicans in Congress may try to reduce or eliminate government incentives that have driven much of that growth. Solar installers face even more uncertainty with threats…
Reeves’ drive for growth seeks China lifeline after UK market turmoil
Chancellor’s mission to Beijing weighted with greater expectations Rachel Reeves hailed a new era of “respectful and consistent future relations with China” as pressure grew on the embattled chancellor to deliver on her government’s central promise to fire up UK economic growth. After meeting China’s vice-premier, He Lifeng, in Beijing, Reeves said Britain’s relationship with…
Rail passengers face disruption from Avanti strikes every Sunday until June
Train managers on west coast mainline to take action from 12 January to 25 May in dispute over rest-day working Passengers on Great Britain’s west coast mainline have been warned of disruption to Avanti services on every Sunday from this weekend to the end of May. Train managers represented by the the National Union of…
Labour MPs urge Rachel Reeves to demand Jimmy Lai’s release
UK chancellor will be first to make an official visit to China in a decade Labour MPs have urged Rachel Reeves to demand Jimmy Lai’s release when she becomes the first UK chancellor to make an official visit to China in nearly a decade. Nine Labour MPs have joined a cross-party call for Reeves to…
There is one major gift Trump is inheriting from Biden: A good job market
Scott Horsley There is major thing that president-elect Donald Trump will be getting as President Biden prepares to hand over the reins: a strong labor market. U.S. employers added more than a quarter-million jobs in December — well above expectations — while the unemployment rate dipped to 4.1%, according to a report from the Labor…
Fears over UK borrowing costs as US jobs figures prompt stock market volatility
Pound falls against the dollar and bond yields rise amid concerns over high UK inflation and interest rates Concerns over the UK government’s borrowing costs were revived on Friday after stronger-than expected US jobs figures triggered volatile conditions in global financial markets. In an accelerating global bond market sell-off, investors warned that the UK was…
Budget tax changes will push up price of fresh food, says Sainsbury’s boss
NICs increase will add £140m to wage bill of supermarket, which has announced 5% pay rise for staff Changes to employers’ national insurance contributions announced in the government’s October budget will drive inflation, particularly on fresh food, according to the boss of Sainsbury’s as he announced a 5% pay rise for workers. “It is coming…
UK music industry hails proposals to crack down on ticket touting
Resale prices could be capped at 30% over face value, while resale websites face greater legal obligations The price at which tickets for live events can be resold is to be capped under “gamechanging” proposals put forward by the government to crack down on touting in the sector. In a move hailed by music industry…
Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe
Labour’s fiscal rules may limit the chancellor’s ability to act, but waiting it out may be the best option The UK government has come under pressure from a bond market sell-off and the tumbling pound, heaping pressure on the chancellor, Rachel Reeves, to reassure investors about Britain’s economic and financial position. After a challenging first…
Lloyds, Halifax and Bank of Scotland to share branches
Lloyds, Halifax, and Bank of Scotland customers will be able to use services in any branch of the three brands as part of the group’s latest network shake-up. Lloyds Banking Group, which owns all three banking brands and is the UK’s biggest moneylender, said the move would give customers more choice and flexibility. It has…
Reeves mulls deeper cuts to public services as borrowing costs soar
Chancellor could slash departmental spending in spring after ruling out tax increase, officials reveal Rachel Reeves is considering imposing steeper cuts to public services to repair the government’s finances after a bruising week in which investors drove up the cost of UK borrowing and pushed the pound to a 14-month low. Government officials have told…
Man told he can’t recover £598m of Bitcoin from tip
A judge has thrown out a man’s attempt to sue a council to recover from a rubbish tip a Bitcoin hard drive that is now worth about £598m. James Howells had argued that his former partner had mistakenly dumped the hard drive containing a Bitcoin wallet in 2013, and he wanted to access the site…
Peter Dutton’s pledge to exclude CFMEU from Queensland road projects could be illegal, experts say
Law professor says prohibiting companies from tendering because of union relationships would be ‘tantamount to a secondary boycott’ A pledge to “exclude” the Construction, Forestry and Maritime Employees Union from Queensland road projects by state and federal LNP leaders has been criticised as illegal by industrial relations experts. On Thursday, the opposition leader, Peter Dutton,…
Lloyds to let customers use Halifax and BoS branches, raising job cut fears
Account holders at the group’s three brands will be able to use any of their locations, but unions fear site closures Lloyds Banking Group will allow customers to use any of its Halifax, Bank of Scotland and Lloyds branches as part of a shake-up that has sparked fears of job cuts and site closures, weeks…
Greggs sales growth slows amid ‘lower consumer confidence’
Bakery chain says fewer shoppers on high streets over Christmas also to blame in ‘more challenging market’ Greggs, the UK’s biggest bakery chain, has reported slowing sales growth over the festive period, blaming weakening consumer confidence and fewer shoppers on high streets. The company said its total sales rose by 11.3% to just over £2bn…
M&S reports strong festive sales but says UK firms will take hit from tax rises
Sales at food halls rise 8.9% over Christmas, with 23 December its biggest ever day of food trading Marks & Spencer has hailed a “good Christmas” with strong sales of food but warned that British businesses face higher costs from the government’s tax increases. The UK retailer said sales at established food halls rose 8.9%,…
Retailers warn of higher prices in 2025 and urge ministers to ease tax burden
Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year UK retailers have urged ministers to ease their tax burden as they said that the cost of food and other items will rise sharply throughout the year as companies grapple with higher employment costs. Food prices…
Royal Mail to celebrate The Vicar of Dibley with 12 special stamps
‘Classic moments’ from BBC comedy series to feature on range of first- and second-class stamps The Royal Mail is issuing 12 special stamps to celebrate the 1990s BBC comedy series The Vicar of Dibley. Eight stamps depict memorable scenes from the sitcom, including a guest appearance by former ballerina Dame Darcey Bussell, while four stamps…