President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Wages, consumer spending and corporate profits were rising. Unemployment was low. The inflation rate, though higher than normal, was falling. Just weeks into Mr. Trump’s term, the outlook is gloomier. Measures of business and consumerContinue Reading
Meltdown The markets have spoken. The S&P 500 is on track for its worst weekly loss since the collapse of the Silicon Valley Bank crisis two years ago. And investors have wiped out post-Election Day gains as President Trump’s dizzying start-stop tariff policy fuels volatility on trading floors and inContinue Reading
House prices are stubbornly high, and mortgage rates remain substantially above their prepandemic level. Now, with the spring home buying season looming, shoppers have a new worry: A major federal consumer watchdog has been hobbled. Without the Consumer Financial Protection Bureau, the agency responsible for overseeing most aspects of theContinue Reading
It might be a moment of hush before chaos ensues, or it may be business as usual. U.S. employers added 151,000 jobs in February, the first full month under the new Trump administration, the Labor Department reported on Friday. The gain extended a streak of job growth to 50 months.Continue Reading
Damon Hininger, the chief executive of CoreCivic, which operates private prisons and immigrant detention centers, opened an investor call last month on a buoyant note. “I’ve worked at CoreCivic for 32 years, and this is truly one of the most exciting periods in my career,” he said, adding that theContinue Reading
The railroad tracks that slice through downtown Freehold, N.J., used to be lined by dozens of men, waiting for work. Each morning, the men — day laborers, almost all from Latin America and undocumented — would be scooped up by local contractors in pickup trucks for jobs painting, landscaping, removingContinue Reading
After a few years of writing what she called a “niche newsletter for Washington insiders,” the political journalist Tara Palmeri decided she wanted to reach a wider audience. A much wider audience. She’s taking her reporting to YouTube. Ms. Palmeri said she is leaving the start-up Puck to strike outContinue Reading
Soon after the recent contentious Oval Office meeting between President Trump and President Volodymyr Zelensky of Ukraine, Senator Adam Schiff went on camera to offer his assessment. “I was horrified and sickened,” Mr. Schiff, a California Democrat, said. “This is Donald Trump caring about nothing of American values,” he laterContinue Reading
President Trump’s family business sued Capital One on Friday for “unjustifiably terminating” more than 300 of its bank accounts after the Jan. 6, 2021, attack on the Capitol, the latest sign that the president and his allies are seeking retribution against those who once shunned them. In a complaint filedContinue Reading
At Le Bouillon Chartier in Paris, the recipe for a perfect beef Bourguignon involves beef, carrots, wine, butter and “coquillettes,” a tiny macaroni-shaped pasta. It is cooked for at least three hours. And it must be affordable, so the price cannot be more than 10 euros a dish. Since 1896,Continue Reading
The Justice Department is in the early stages of investigating major egg producers in the United States over possible antitrust violations as the price of eggs skyrockets, two people familiar with the matter said. The department’s lawyers are preparing to send civil investigative demands — effectively subpoenas for civil investigationsContinue Reading
A month ago, President Trump announced that he would impose sweeping tariffs on imports from Canada and Mexico before reaching a last-minute deal to delay them for 30 days. This week, after markets revolted when the tariffs were put in place, Mr. Trump watered them down with a monthlong reprieveContinue Reading
This winter, Denver has faced record-breaking Arctic blasts — below-zero temperatures, heavy snowfalls and brutal wind chills. But at Barolo Grill, a longtime Italian fixture in the affluent Cherry Creek neighborhood, the mood is warm. The restaurant has just logged its most lucrative January and February since it opened inContinue Reading
Tesla charging stations were set ablaze near Boston on Monday. Shots were fired at a Tesla dealership in Oregon after midnight on Thursday. Arrests were made at a nonviolent protest at a Tesla dealership in Lower Manhattan on Saturday. The electric car company Tesla increasingly found itself in police blottersContinue Reading
Send questions about the office, money, careers and work-life balance to workfriend@nytimes.com. Include your name and location, or a request to remain anonymous. Letters may be edited. An Office Romance I have been dating a man who works at the same company as I do since 2021. Our relationship hasContinue Reading
A Denver judge on Friday sentenced a former ride-share driver to 290 years to life after prosecutors said he abducted a dozen women over four years by falsely posing as the driver they requested. The man, John Pastor-Mendoza, was convicted in late October on 30 charges related to the kidnapping,Continue Reading
They were conned by skilled online criminals into draining their retirement savings. After the shock, shame and grief that followed, the victims were often left with something else: an enormous income tax bill. Mary Ellen Strange, a 75-year-old widow who was deceived by fraudsters impersonating federal investigators, now owes theContinue Reading
Here’s a terrible thing that happens: Thieves pretend they’re you, file a tax return in your name very early in the year, claim a fat refund and run away with the money. When you try to file your own return, the Internal Revenue Service rejects it. After all, according toContinue Reading
Early evidence is promising. In 2023, the region added 30,000 foreign-born residents, amounting to a 23.2 percent increase in the immigrant population, according to census data. (The New York City area added 88,000, only a 1.5 percent increase.) That was almost enough to offset the loss of 34,000 native-born residents.Continue Reading
Nearly a month has passed since President Trump last spoke publicly of his desire to kill the carried interest loophole. (Yes, we know, some of you don’t consider it a “loophole.”) And yet the private equity industry, which stands to lose big if the president upends the tax break, isContinue Reading
In 2013, Jessica Lessin, a reporter at The Wall Street Journal, left the paper to start a competing publication, The Information. A few years later, her fledgling newsroom had grown to nearly two dozen reporters and editors and booked more than $20 million in sales, as she revealed in aContinue Reading
At the end of February, the House of Representatives passed a budget calling for up to $4.5 trillion in tax cuts over 10 years. Now, the haggling begins. Many of the tax cuts from the 2017 tax bill, which passed during President Trump’s first term, are set to expire atContinue Reading
For SpaceX, 2025 should have been the best year yet. Elon Musk, the founder of the private space company, is one of the most influential people in the Oval Office, and President Trump has endorsed his vision of sending humans to Mars. But so far, it has not been aContinue Reading
President Trump signed an executive order instructing administration officials to alter a student loan forgiveness program for public servants to exclude nonprofit organizations that engage in activities that have what he called a “substantial illegal purpose.” His order to restrict the program appears to target groups supporting undocumented immigrants, diversityContinue Reading
As President Trump puts new tariffs on goods from China and threatens a trade war with allies like Mexico and Canada, one global company is likely to suffer less than most of its competitors: Tesla. But the electric car maker led by Elon Musk, which accounts for a third ofContinue Reading
China announced tariffs of up to 100 percent on canola, pork and other foods from Canada on Saturday, in retaliation for Canada’s decision last August to collect steep taxes on imports of Chinese electric vehicles, steel and aluminum. The Chinese tariffs, which take effect on March 20, were also aContinue Reading
A day after landing on the moon, the robotic Athena spacecraft built by Intuitive Machines of Houston is dead. In an update on its website on Friday, the company confirmed that Athena had tipped onto its side — the same fate that befell its first lunar lander, Odysseus, last year.Continue Reading
Figma, a cloud-based design platform, has met with investment banks in recent weeks to discuss an initial public offering that could come as soon as this year, two people with knowledge of the matter said. In 2023, European and U.S. regulators stymied an effort by the software giant Adobe toContinue Reading
In a sign that President Trump is following the Biden administration’s lead in reining in Google, the Justice Department on Friday reiterated its demand that a court break up the search giant. The request followed a landmark ruling last year by Judge Amit P. Mehta of the U.S. District CourtContinue Reading
Sitting beneath a portrait of Abraham Lincoln, more than two dozen of the most powerful figures in the U.S. cryptocurrency industry, together worth many billions of dollars, gathered in the White House on Friday for an audience with President Trump. When Mr. Trump entered the ornate State Dining Room afterContinue Reading
Consulting with a lawyer who has ties to President Trump. Reaching out to Washington lobbyists. And sitting for a jailhouse interview with Tucker Carlson. Sam Bankman-Fried, the disgraced cryptocurrency mogul who was once a top Democratic donor, has embarked on a long-shot campaign to secure a pardon from the TrumpContinue Reading
Jerome H. Powell, chair of the Federal Reserve, said the central bank is focused on the “net effect” of President Trump’s sweeping economic agenda amid high uncertainty about which policies will actually be enacted, as he reiterated that officials are still not in a “hurry” to adjust interest rates. “AsContinue Reading
In the packed Paris courtroom, the corporate magnate portrayed himself as a successful business leader who had labored to turn LVMH into the world’s top luxury conglomerate, with 75 brands, including Louis Vuitton and Dior, and 200,000 employees worldwide. When Mr. Arnault first took over the company in the 1980s,Continue Reading
For about a year now, the labor market has existed in a state of eerie calm: Not many people were losing their jobs or quitting, but not many of those seeking work were getting job offers. The mass layoffs now underway across the federal government, along with its employees whoContinue Reading
March 7, 2025, 5:56 a.m. ET The recent sell-off has been driven by declines in the stocks of big technology companies.Credit…Lucas Jackson/Reuters The U.S. stock market is headed for one of its worst weeks in many months, after a series of dizzying policy shifts on tariffs from the White House.Continue Reading
Listen to and follow ‘Hard Fork’Apple | Spotify | Amazon | YouTube | iHeartRadio This week, Google introduced a new way to search, which could mean that Googling as we know it is on the way out. It’s called AI Mode and it is essentially the company’s response to theContinue Reading
The U.S. stock market is headed for one of its worst weeks in many months, after a series of dizzying policy shifts on tariffs from the White House. A fresh jobs report on Friday will provide a crucial reading on the strength of the economy, which has become a growingContinue Reading
Walgreens Boots Alliance said on Thursday that it had agreed to be acquired by Sycamore Partners, a private equity firm, in a $10 billion deal that will take the struggling pharmacy chain out of the glare of public markets. Walgreens has faced declining prescription reimbursements and falling sales at itsContinue Reading
Jordan Tkacsik was perusing his friend Paul Bartlett’s sports memorabilia and trading card shop last year when he noticed something unusual in a section full of Pokémon collectibles. It was a Cheetos cheese puff, but not just any Cheeto. Rather, it was a Flamin’ Hot Cheeto that bore an uncannyContinue Reading
When the White House finally released the text of Mr. Trump’s orders on Thursday evening, it appeared that some of the tariffs — those covered in the U.S.-Mexico-Canada trade agreement that Mr. Trump negotiated and celebrated in his first term — were indeed permanently suspended. Other tariffs were merely paused.Continue Reading
Starship — the huge spacecraft that Elon Musk says will one day take people to Mars — failed during its latest test flight on Thursday when its upper stage exploded in space, raining debris and disrupting air traffic at airports from Florida to Pennsylvania. It was the second consecutive testContinue Reading
President Trump signed an executive order on Thursday to create a national stockpile of Bitcoin and other digital currencies, an adviser said, an audacious idea that has been widely criticized as a scheme to enrich crypto investors. The basis of the stockpile will be a stash of Bitcoin, estimated toContinue Reading
StubHub, a ticketing software company, has held talks with bankers in recent weeks about holding an initial public offering before the end of the year, two people with knowledge of the matter said, testing Wall Street’s appetite for a return of tech I.P.O.s. The talks are preliminary, said the people,Continue Reading
Athena didn’t crash. But what did happen to it? Hours after the 15-foot-tall robotic spacecraft arrived at the moon’s surface, closer to the lunar south pole than any spacecraft has been, it remained unclear whether its touchdown was smooth enough to perform its intended work, or if it toppled overContinue Reading
President Trump said on Thursday that he would allow both Mexico and Canada to avoid tariffs on most exports to the United States for one month, saying he would exempt products that are traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed in his first term.Continue Reading
President Lai Ching-te of Taiwan on Thursday sought to reassure his citizens that a plan by a Taiwanese chip giant to spend $100 billion in the United States would benefit the island, after the company’s pledge this week raised concerns at home. Taiwan Semiconductor Manufacturing Company, the world’s largest chipContinue Reading
To hear Dan Bongino describe it, the Federal Bureau of Investigation is “the single most corrupt law enforcement institution” in America and a “full-blown leftist political action committee” devoted to covering up Democratic crimes and withholding the truth from the American people. “It is time for an absolute housecleaning,” heContinue Reading
A tech industry veteran, Mike McCue sees an opening for a different kind of internet where algorithms don’t call the shots. Mr. McCue, the chief executive of the internet company Flipboard, is challenging social media’s automated grip on our attention, betting that humans, not machines, should curate online experiences. ThreeContinue Reading
When the United States signed a free-trade agreement with Canada and Mexico more than 30 years ago, the premise was that partnering with two other thriving economies would also benefit America. This week, President Trump abruptly scrapped that idea. He imposed a sweeping 25 percent tariff on the roughly $1Continue Reading
Dr. Marty Makary may face sharp questions from senators about whether he will defend the Food and Drug Administration against staff cutbacks and industry pressure on Thursday, although he is still expected to sail through his confirmation hearing to become the agency’s commissioner. Dr. Makary built his reputation as aContinue Reading
