Niantic, the company behind the runaway hit Pokémon Go, said Wednesday that it has agreed to sell its video game business for $3.5 billion to Scopely, a company owned by the Saudi sovereign wealth fund. Pokémon Go, an augmented reality mobile game, became a cultural sensation when it was released in 2016. Tens of millions … Read more
Tesla is getting crushed in China, its most important market outside the United States and one that it had dominated for years. When Liu Jie, 32, decided to buy an electric car in October, Tesla was one of her top choices. But after test-driving a few Chinese cars, she went with a sports sedan from … Read more
This week, the top copy editor of The New Yorker announced that the magazine had completed a “reëxamination” of its house style. A few things were changing. But its dedication to the dieresis — those two little dots that float above certain vowels, beloved by New Yorker editors and almost nobody else — was not. … Read more
Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, has named Lip-Bu Tan, an experienced business and technology leader, as its new chief executive. Mr. Tan, 65, will be responsible for reviving the fortunes of a chip-making company that has fallen from grace. Once one of the … Read more
President Trump has tapped Michelle W. Bowman, a Federal Reserve governor, to be the next vice chair for supervision at the central bank, according to a White House official who was not authorized to speak publicly. The position was vacated at the end of last month by another Fed governor, Michael S. Barr, who stepped … Read more
Policymakers are grappling with “exceptionally high” uncertainty, Christine Lagarde, the president of the European Central Bank, said on Wednesday, just hours after the European Commission announced tariffs on U.S. imports in response to levies imposed by the Trump administration. Later, Canada announced a new round of retaliatory tariffs on U.S. imports. The unpredictability of trade … Read more
Eggs prices continued their upward climb in February despite some easing in overall inflation, further straining consumers seeking relief from rising prices in the grocery aisles. Data from the Bureau of Labor Statistics released on Wednesday showed that egg prices rose 10.4 percent from the previous month, to nearly $5.90 for a dozen large Grade … Read more
Breakthrough Energy, an umbrella organization funded by Bill Gates that works on a sprawling range of climate issues, announced deep cuts to its operations in an internal memo on Tuesday. Dozens of staff were cut, including Breakthrough Energy’s unit in Europe, its team in the United States working on public policy issues and most of … Read more
The German defense contractor Rheinmetall, Europe’s largest producer of munitions, said on Wednesday that it was positioned to profit from the region’s willingness to increase military spending as President Trump shifts the United States away from its support of Europe. Defying the malaise that has plagued the German economy for the past two years, Rheinmetall … Read more
Trade war A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared. The new tariffs amped up the risk of a global trade war. The European Union on Wednesday vowed to roll out $28 billion in retaliatory levies next month on American products, including … Read more