BP, the energy giant, on Wednesday said it would increase spending on oil and gas while sharply paring back investments on various forms of clean energy. The move appears to be a response to a combination of investor pressure for higher returns and a realization that the so-called energy transition to cleaner fuels is not … Read more
At the United States Agency for International Development, thousands of workers have been fired or put on administrative leave and many of its projects addressing global issues like health, hunger and education have been halted. Now, a former Goldman Sachs analyst and son of a private equity billionaire has ambitions to control some of U.S.A.I.D.’s … Read more
Shortly after taking office for the second time, President Trump began making deep cuts to agencies and programs that play critical roles in human health, slashing funding for medical research, halting global health aid and firing scores of workers at the Centers for Disease Control and Prevention. But the campaign to downsize government, which has … Read more
Galina Timchenko, publisher and chief executive of the investigative newsroom Meduza, thought she was ready for anything. The site, based in Latvia and known for its fearless reporting on Vladimir V. Putin’s regime, had prepared for cyberattacks, legal threats and even poisonings of its reporters. One thing she hadn’t anticipated: defunding by the U.S. government. … Read more
President Trump’s tough talk on China typically centers on tariffs. But a closer look at the decisions he has made since taking office shows that the president is considering a far wider set of economic restrictions on Beijing, ones that could hasten America’s split from a critical trading partner. The Trump administration has so far … Read more
The Trump administration has opened a broad new front in its global trade conflict, proposing to affix levies reaching $1.5 million on Chinese-made ships arriving at American ports. Such fees would apply even on vessels made elsewhere if they are operated by carriers whose fleets include Chinese ships — an approach that risks increasing costs … Read more
Dockworkers on the East and Gulf Coasts voted in favor of a new contract on Tuesday, ending labor turbulence at ports that handle a large share of U.S. trade with the rest of the world. The dockworkers’ union, the International Longshoremen’s Association, said nearly 99 percent of its members had supported the contract, which raises … Read more
Fresh off the worst inflation shock in decades, Americans are once again bracing for higher prices. Expectations about future inflation have started to move up, according to metrics closely watched by officials at the Federal Reserve. So far, the data, including a consumer survey from the University of Michigan and market-based measures of investors’ expectations, … Read more
Lawyers for Paramount and President Trump have agreed to appoint a mediator in his $20 billion lawsuit against CBS, according to two people with knowledge of the decision. The move to bring in a mediator is another indicator that the two sides are trying to resolve the case, over the editing of a “60 Minutes” … Read more
New York Public Radio said on Tuesday that it would lay off about 7 percent of its staff as it continued to struggle with a financial shortfall. Twenty-one full-time roles will be eliminated, with three of them becoming part time, the chief executive, LaFontaine Oliver, said in an email to the staff. Seven open roles … Read more