Author: News Room

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 is worth half as much as a dime but costs twice as much to mint. A penny, which used to cost less than 1 cent to make, now costs 3.7. In 2011, a quarter was cheaper to make than a nickel; today the two coins cost about…

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 oil, which iHerb sells, he said, “might be able to actually help with Alzheimer’s.”It turns out Dr. Oz is also a sizable investor in the supplement company, according to filings released on Wednesday by the Office of Government Ethics.Dr. Oz pledged to sell the vast majority…

President Trump’s pick as labor secretary faced pointed questions from both parties at her Senate confirmation hearing on Wednesday over her past support for pro-union legislation, an issue that could complicate her nomination.The nominee, Lori Chavez-DeRemer, a former Republican congresswoman, was pressed repeatedly about her stand on the PRO Act — a sweeping labor bill that sought to strengthen collective bargaining rights. She was a co-sponsor of the measure, a top Democratic priority that has yet to win passage, and one of few Republicans to back it.Asked if she continued to support it, Ms. Chavez-DeRemer demurred, saying she was no…

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 borrowing costs over time. But slow progress on taming inflation, combined with significant uncertainty about how President Trump’s economic agenda will shape up, has solidified their position that the best course of action for now is to stand pat until they have more clarity on the…

Anyone who wants to keep up with President Trump’s views knows to go to his Truth Social account. There, one finds his reasoning on a panoply of issues, including military strikes in Somalia, tariffs on Canada and Mexico, relations with Russia, the causes of a deadly aircraft collision, American ownership of the Gaza Strip and a budget bill now before Congress.On Wednesday, for instance, after initial cease-fire talks between the United States and Russia over the war in Ukraine, he employed the account to attack Ukraine’s leader. “Think of it, a modestly successful comedian, Volodymyr Zelenskyy, talked the United States…

KFC, the company so associated with Kentucky that state flags flew at half-staff when its founder Colonel Sanders died, is leaving the state.The company formerly known as Kentucky Fried Chicken will move its corporate headquarters and about 100 employees to Plano, Texas, from Louisville, Ky., its parent company, Yum Brands, said in a statement on Tuesday. Yum Brands also owns Taco Bell, Pizza Hut and the Habit Burger and Grill.The move put an end to decades of the brand’s history in the state, and drew condemnation from Kentucky’s governor. While Yum cited “greater collaboration among its brands” as a reason…

Treasury Secretary Scott Bessent will skip a meeting of finance ministers and central bankers from the Group of 20 nations in Cape Town next week, according to people familiar with his plans, deepening the rift between the United States and South Africa over policies the Trump administration believes are anti-American.The decision to forgo such a major economic gathering is highly unusual for a Treasury secretary, particularly one who was confirmed to his post three weeks ago.It follows a boycott of a similar meeting of foreign ministers this week in Johannesburg by Secretary of State Marco Rubio. Mr. Rubio said he…

Less than a year after introducing its artificial intelligence capabilities, Apple is bringing the feature to its most affordable iPhone.On Wednesday, the company unveiled an iPhone that will cost $599 and feature an A.I. system it calls Apple Intelligence. The device brings A.I. features like notification summaries and writing recommendations in English to the company’s lowest-priced iPhone model as it prepares to expand those features to other languages in the coming months, including Chinese, Portuguese, and localized English for India.The new phone, which Apple is calling the iPhone 16e, does not feature a home button or Touch ID, which have…

During the Biden administration, Donald J. Trump would sit in his mirrored and gold-trimmed salon at Mar-a-Lago where he had once hosted China’s leader, Xi Jinping, brooding to visitors about the outcome of the trade agreement he signed with China in 2020.Mr. Trump would castigate “stupid people” in the White House for failing to honor “my trade agreement,” and muse about how, if he won a second term, he could strike the deal of a century with Mr. Xi.Now back in the Oval Office, President Trump is eyeing the possibility of a new trade deal with China.More than half a…

Nikola, an electric vehicle start-up that had once hoped to become the Tesla of heavy trucks, filed for bankruptcy protection on Wednesday.Founded in 2015, Nikola promised to develop long-haul semi trucks powered by hydrogen and electricity, and listed itself on the stock exchange in 2020 before it had sold a single vehicle. Its share price surged briefly as individual investors and some Wall Street firms clamored to bet on companies that they thought could replicate Tesla’s success and its soaring stock price.Investors’ short-lived enthusiasm for Nikola made its founder, Trevor Milton, and other early investors wealthy. But before long, significant…