John Thornton, a financier who leveraged his wealth and influence to embark on the seemingly quixotic mission of reviving local journalism in a time of crisis, by founding The Texas Tribune, a seminal regional nonprofit news organization, and the American Journalism Project, which supports local digital newsrooms around the country, died on Saturday in Austin, … Read more
The mood has darkened in the U.S. stock market, and no wonder. Pessimism about the Trump tariffs has set off painful declines. But the picture has been less dire for people with investments outside the U.S. stock market. Holding plenty of bonds and including stakes in international stock markets were keys to stability and, maybe, … Read more
Eight members of the OPEC Plus oil cartel, led by Saudi Arabia, said Thursday that they would accelerate their previously planned schedule to gradually add about 2.2 million barrels a day to the oil market. The producers, including Russia, will add a combined 411,000 barrels a day in May, equivalent to three monthly increases, they … Read more
President Trump announced what could be one of the most dramatic economic policy changes in decades on Wednesday, when he substituted America’s longstanding system of taxing imports with a new tariff system of his own devising. The president said the tariffs would reverse decades of unfair treatment by the rest of the world and result … Read more
European Union regulators are preparing major penalties against Elon Musk’s social media platform X for breaking a landmark law to combat illicit content and disinformation, said four people with knowledge of the plans, a move that is likely to ratchet up tensions with the United States by targeting one of President Trump’s closest advisers. The … Read more
Volkswagen, the German automaker, has told its car dealers that it plans to add an import fee later this month to the price of imported cars sold in the United States. The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President … Read more
Two days before a deadline for TikTok to be sold to a non-Chinese company or otherwise face a ban in the United States, a deal has not yet been cemented but the contours of one are starting to take shape. Vice President JD Vance said on Thursday that the administration would announce a plan for … Read more
Prime Minister Mark Carney said that Canada had introduced a 25 percent tariff on cars and trucks made in the United States in retaliation for the tariffs that went into effect Thursday morning on Canadian vehicles. Hours before the tariffs imposed by President Trump took effect, the automaker Stellantis told the union representing about 3,600 … Read more
Health Secretary Robert F. Kennedy Jr. announced wide-ranging cutbacks at federal health agencies, including the Food and Drug Administration, that would eliminate duplicative services and paper pushers. But in interviews with more than a dozen current and former F.D.A. staff members, a different picture emerged of the far-reaching effects of the layoffs that would ultimately … Read more
President Trump on Wednesday ordered the closure of a loophole that allows retailers to directly send clothes and other goods from China to American shoppers without paying tariffs. The loophole, known as the de minimis exemption, currently applies to goods worth less than $800. Such goods are allowed to enter the United States tariff free. … Read more