Author: News Room
The Securities and Exchange Commission is moving to scale back a special unit of more than 50 lawyers and staff members that had been dedicated to bringing crypto enforcement actions, five people with knowledge of the matter said.The move is one of the first concrete steps by President Trump and his administration to pull back on the regulation of cryptocurrencies and other digital assets. One of Mr. Trump’s first executive orders was aimed at promoting the growth of crypto and “eliminating regulatory overreach” on digital assets.Some of the lawyers in the crypto unit are being assigned to other departments in…
While he was campaigning last fall, President Trump bemoaned the lack of a U.S.-backed investment fund and promised to create one.“Other countries have wealth funds,” he said. “We have nothing.”On Monday, he took the first step. He issued an executive order that announced the planning for an investment vehicle or a sovereign wealth fund, which would be financed by the United States government.Sovereign wealth funds are investment funds owned by an individual state or government typically created from budget surpluses or revenues from oil or other commodities. These funds may indirectly finance domestic industries as well as a wide range…
Anyone craving the all-day breakfast at Waffle House will have to shell out an extra 50 cents for each egg in their omelet or scrambled eggs, the restaurant chains said on Monday.Waffle House said in a statement that the temporary surcharge, which went into effect the same day, was being added to address the rising cost of eggs resulting from the bird flu.The “continuing egg shortage” caused by highly pathogenic avian influenza, “has caused a dramatic increase in egg prices,” Waffle House said in the statement. “Consumers and restaurants are being forced to make difficult decisions.”Grocery stores and restaurants are…
Amid a national debate on highly processed foods and the rise of weight-loss drugs, PepsiCo is responding by offering healthier versions of some snacks.Early Tuesday, the company reported that revenue in the fourth quarter slipped modestly to $27.8 billion from $27.9 billion a year earlier, while net income rose to $1.5 billion from $1.3 billion. For the year, revenue climbed slightly to about $91.9 billion from $91.5 billion, while net income rose to about $9.6 billion from $9.1 billion a year earlier.As some consumers have felt their wallets pinched by inflation, particularly higher prices for food in recent months, Wall…
It is a question that vexed President Trump eight years ago and has re-emerged as a reason behind his threat to impose tariffs on the European Union: Why don’t Europeans buy cars from the United States?“They make it impossible to sell cars in the European Union,” Mr. Trump told reporters on Monday, reviving a pet peeve from his first term in office. A particular sore spot for the president? Germans and their preference for cars made in Germany.“How many Chevrolets or Fords do you see in the middle of Munich?” he asked.Not many. German cars may be a regular sight…
Late Wednesday night, members of the International Olympic Committee gathered for a dinner at the Olympic Museum on the banks of Lake Geneva. The next morning, they would see presentations from seven candidates vying to be their leader, a role that would by most measures be the most important in international sports.At the closed-doors gathering, the outgoing president, Thomas Bach, ensured that the members present — the people who determine who will eventually lead the I.O.C. — were kept apart from the candidates. It was, he said perhaps jokingly, so they could enjoy their meals in peace.It was a scene…
Viewership for the Grammys slipped to 15.4 million on Sunday night, according to Nielsen, a 9 percent decline compared with last year’s ceremony.The viewership drop snaps a three-year streak for the Grammys. Ratings steadily increased during that period, culminating with nearly 17 million viewers for last year’s show. Ratings had started to climb after 2021, when a stripped-down pandemic ceremony saw its audience fall to roughly nine million viewers.Even with the decline this year, the Grammys, which aired on CBS and streamed on Paramount+, is well positioned to be one of the most-watched entertainment shows of 2025. And its ratings…
For about a week leading up to the A.F.C. championship game, Meredith Nolan had been living on a hulking research vessel parked in an Antarctic port. The ship, called the Noosfera, had been waiting for favorable sea conditions before plowing into the icy waters below the southern tip of South America.It was late January, and Nolan was headed home after spending three months at Palmer Station, a tiny American research base in Antarctica.She had been studying the effects of climate change on zooplankton, and, in her spare moments, cheering for her favorite football team, the Buffalo Bills. She wore a…
Two senators plan to introduce a bill on Tuesday to impose a tight cap on credit card interest rates, reviving a proposal that is sure to draw howls from banks and other lenders.A lid on credit card rates has been a white whale of sorts for consumer advocates and others for generations, with efforts falling short during the administrations of Presidents George H.W. Bush and Barack Obama. The idea received new life in September when President Trump, then on the campaign trail, said he supported a temporary 10 percent limit on credit card rates “while working Americans catch up.”That exact…
The trade fight with China is officially on, with Washington and Beijing exchanging blows that could raise prices on an array of goods. And President Trump has threatened to target the European Union next.But as Monday’s whirlwind of news, including last-minute reprieves for Canada and Mexico, showed, it’s hard to figure out what Trump will use to declare victory — or what the costs of the tariffs-as-policy approach will be. We dive into all of this below.Also, we have a scoop on a top deal maker returning to Goldman Sachs, and we weigh the odds for various TikTok bidders.Another trade…