In February of last year, as videos of tweens racing to Sephora for beautifully packaged creams and serums that contained anti-aging chemicals flooded TikTok, a legislator in California tried to end that trend by introducing a bill that would stop stores from selling those products to them. It failed. Now, even though the chatter around … Read more
European defense stocks continued their rally on Tuesday, as President Trump’s threats to reduce American military support to the continent and NATO raised the prospect that Europe’s governments will increase military spending. The flurry of trading helped push the Pan-European Stoxx 600 index to a record high; the Stoxx Europe Total Market Aerospace & Defense … Read more
Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment. Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief … Read more
The fire hose of Elon Musk news continues: We’ve got more on the controversy over the access to sensitive I.R.S. data that Musk’s cost-cutting team is seeking and the resignation of a senior official at the Social Security Administration over a similar issue. And in case you missed it, there were two revealing long reads … Read more
The Internal Revenue Service is preparing to give a team member working with Elon Musk’s so-called Department of Government Efficiency access to sensitive taxpayer data, people familiar with the matter said. The systems at the I.R.S. contain the private financial data tied to millions of Americans, including their tax returns, Social Security numbers, addresses, banking … Read more
Southwest Airlines on Monday announced plans to cut 15 percent of its work force, the first round of broad layoffs in the airline’s 53-year history. The company said it planned to cut about 1,750 jobs, with the cuts mostly focused on corporate positions. The layoffs will include 11 senior leaders with titles of vice president … Read more
As President Trump’s efforts to restructure the global trade system with expansive tariffs begin to take shape, one question continues to dog officials at the Federal Reserve: How will these policies impact the central bank’s plans to lower interest rates? One influential Fed governor made clear on Monday that he did not expect Mr. Trump’s … Read more
An advertisement that was set to run in some editions of The Washington Post on Tuesday calling for Elon Musk to be fired from his role in government was abruptly canceled, according to one of the advocacy groups that had ordered the ad. Common Cause said it was told by the newspaper on Friday that … Read more
Since their party swept to power, Republicans have entertained visions of an all-inclusive tax cut — one that could permanently lower rates for individuals, shower corporations with new incentives and deliver President Trump’s sprawling suite of campaign promises. If only it were so easy. House Republicans are preparing to adopt a budget plan that puts … Read more
President Trump’s policies could threaten many big green energy projects in the coming years, but his election has already dealt a big blow to an ambitious California effort to replace thousands of diesel-fueled trucks with battery-powered semis. The California plan, which has been closely watched by other states and countries, was meant to take a … Read more