WASHINGTON — At her confirmation hearing in early 2021, Treasury Secretary Janet L. Yellen told lawmakers that it was time to “act big” on a pandemic relief package, playing down concerns about deficits at a time of perpetually low interest rates and warning that inaction could mean widespread economic “scarring.” A year and a half […]
CUPERTINO, Calif. — Around this time every year, our smartphones become a reminder to always be ready for change. That’s because Apple and Google announce updates to the operating systems that power our iPhones and Android phones. Soon, the software that makes the devices tick will have design tweaks and new features — in other […]
WASHINGTON — The Biden administration on Monday announced a two-year pause on imposing any new tariffs on the solar industry, a decision that follows an outcry from importers who have complained the levies are threatening broader adoption of solar energy in the United States. The move is a victory for domestic solar installers, who said […]
Elon Musk is threatening to pull out of his $44 billion acquisition of Twitter if the company does not provide more information on how it calculates the number of fake accounts. In a letter delivered to Twitter on Monday and filed with the Securities and Exchange Commission, Mr. Musk’s lawyers at the law firm Skadden, […]
HOUSTON — When President Biden meets Crown Prince Mohammed bin Salman in Saudi Arabia, he will be following in the footsteps of presidents like Jimmy Carter, who flew to Tehran in 1977 to exchange toasts with the shah of Iran on New Year’s Eve. Like the prince, the shah was an unelected monarch with a […]
Older adults typically carry less debt than younger ones because people tend to shed debt as they approach and enter retirement. But in recent decades, each cohort of seniors has been more indebted than the previous one. “There’s a group of older people in financial distress,” said Annamaria Lusardi, an economist at the George Washington […]
The Petro Travel Center on Interstate 10 in Ontario, Calif., is one of scores across the country. At the front of the building are the things road trippers see when they stop for gas or snacks: a convenience store, restrooms and some dining options. But for truckers, Petro is a haven. An entrance opens to […]
“I’m trying to fill up office buildings, and I’m telling JPMorgan, Goldman Sachs, I’m telling all of them, ‘Listen, I need your people back into office so we can build the ecosystem,’” Mayor Eric Adams of New York City said this week. The city, which is heavily reliant on tax revenue from massive Midtown offices, […]
Tesla’s chief executive, Elon Musk, plans to cut 10 percent of the electric carmaker’s salaried work force, he told staff in an email on Friday. The job cuts will not apply to employees who build cars or batteries or who install solar panels, and the number of hourly employees will increase, Mr. Musk said in […]
Job gains maintained their impressive run in May, even as government policymakers took steps to cool the economy and ease inflation. The Labor Department reported Friday that employers added 390,000 jobs, the 17th straight monthly gain. The unemployment rate was 3.6 percent for the third straight month, near a half-century low. Average hourly earnings for […]
