For more than a decade, the pioneers of the cryptocurrency industry envisioned digital coins as an alternate branch of finance, a renegade sector that would operate outside the reach of big banks and government regulators. But as digital currencies like Bitcoin and Ether became more mainstream, the crypto industry collided with a 1946 Supreme Court […]
Since China reopened its borders in 2023 after three years of Covid isolation, domestic travel has thrived and high-speed rail has grown increasingly popular. But international trips in and out of the country are lagging, and flight capacity is still just a third of prepandemic levels. The economic stakes are high. Before the pandemic, Chinese […]
The S&P 500 index closed at a record on Friday, crossing above its old high-water mark, set in early 2022. The gains show that investors have overcome fears of rising interest rates and panic about a recession that had governed stock trading for much of the past two years. Instead, they’re now betting that a […]
Why It Matters: Rishi Sunak met his inflation pledge. About a year ago, with inflation above 10 percent, Prime Minister Rishi Sunak made several pledges to the British public on the economy, migration and the health service. Wednesday’s data confirms that he met one of those — to cut Britain’s inflation rate in half. It’s […]
Joelle Emerson’s D.E.I. consultancy, Paradigm, works with more than 500 companies. The growing backlash against D.E.I., she said, “is usually the first agenda item on every call.” Critics of D.E.I., or diversity, equity and inclusion initiatives, have tried to scapegoat it for everything from regional bank failures to a panel’s ripping off a Boeing plane […]
Google laid off hundreds of workers in several divisions Wednesday night, seeking to lower expenses as it focuses on artificial intelligence and joining a wave of other companies cutting tech jobs this year. The Silicon Valley company laid off employees in its core engineering division, as well as those working on the Google Assistant, a […]
A brand-new American rocket lifted off from a launchpad at Cape Canaveral, Fla., on Monday, and for the first time in more than 50 years, an American spacecraft will be headed toward the surface of the moon. The rocket is called Vulcan, and it was built by the company United Launch Alliance. Here’s what you […]
Attacks on commercial vessels in the Red Sea by the Houthi rebels in Yemen have left oil tanker operators facing an unwelcome calculation: accept the risks of steaming through the danger zone, or lose business. The risks of conflict in the area may even be increasing, with a coalition of 12 nations led by the […]
It has been a confusing year for the economy and markets. At the start of 2023, economists largely predicted a global recession, and Wall Street was bearish on stocks, with many analysts expecting the S&P 500 to finish the year just a touch higher than where it started. Fast-forward 12 months: No recession (yet) and […]
The stock prices of Chinese video game companies rebounded Wednesday after investors seized on signals that the government was having second thoughts about proposed regulations on gaming. Since the weekend, regulators have attempted to calm the market after shares of the two largest video game companies, Tencent and Netease, plunged on Friday. When trading resumed […]
