Legal warnings posted on the door of a private, for-profit hospital in eastern China tracked its descent into financial failure. Huiren Hospital in the city of Suqian was warned for failing to pay employees. Four months later, a judicial summons said it still had not paid back wages. Finally, in September a paper taped across … Read more
DealBook’s Lauren Hirsch is in Miami Beach at the FII Priority conference, where President Trump floated the idea of sending Americans a dividend or refund check from money saved by DOGE rather than use all of it to pay down the debt. More below. Separately, since you may read about this elsewhere, I thought I’d … Read more
Walmart, the largest retailer in the United States, said on Thursday that strong holiday sales propelled its revenue to another annual record but flagged a weaker-than-expected forecast for growth this year, as shoppers face challenges like stubborn inflation, the uncertain impact of tariffs and a potential rise in unemployment. Walmart said sales rose to $681 … Read more
Last August, a hotel room in Europe priced at 200 euros was about $224. Today, travelers spending American dollars would pay only $208. On the rise since last autumn, the dollar is strong compared with a number of foreign currencies, including the euro, the Japanese yen and the Canadian dollar. And President Trump’s tariff threat … Read more
American manufacturing has been in the doldrums for years, battered by high borrowing costs and a strong dollar, which makes exports less competitive. But there has been a bright spot: billions of dollars flowing into factory construction, signifying that a potential rebound in production and employment is around the corner. The flood of investment has … Read more
Delta Air Lines said on Wednesday that it was offering $30,000 to each passenger who was aboard the flight from Minneapolis that crashed and flipped upside down this week while trying to land in Toronto. All 80 people — 76 passengers and four crew members — who were on Delta Flight 4819 survived after the … Read more
The Trump administration is facing pressure to protect the Federal Aviation Administration from further layoffs after hundreds of workers were fired over the weekend. The job cuts were part of a government restructuring under Elon Musk, an adviser to President Trump who is heading a cost-cutting initiative. Mr. Musk’s team has helped push through layoffs … Read more
Since 2023, Dr. Mehmet Oz, the celebrity doctor nominated by President Trump to head the Centers for Medicare and Medicaid Services, has been a high-priced pitchman for iHerb, a California supplement retailer. He has aggressively promoted iHerb products on social media, recommending supplements that he says will stimulate hair growth and provide smoother skin. Olive … Read more
President Trump recently ordered the U.S. Mint to stop producing pennies, for a simple-sounding reason. Each penny, he said, has “literally cost us more than 2 cents.” He’s right. Since 2006, the government has spent more money minting pennies than those pennies have been worth. The production costs of coins can be confusing. A nickel … Read more
The Federal Reserve pressed pause on interest rate cuts last month. The minutes from its January meeting suggest the hiatus is likely to be a long one. A record of the central bank’s Jan. 28-29 meeting, released on Wednesday, showed that officials have not written off rate cuts completely, and they still expect to lower … Read more