Author: News Room

President Trump is expected to announce on Thursday that the United States will strike a trade agreement with Britain, according to three people familiar with the plans.Mr. Trump teased a new trade agreement in a social media post on Wednesday night, though he did not specify which nation was part of the deal.“Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” he wrote.A spokesman for the White House declined to comment beyond Mr. Trump’s post. A spokesman for the British…

On a recent afternoon in Philadelphia, an air traffic controller began shouting that he had lost his radar feed for planes flying in and out of Newark Liberty International Airport.Some of his colleagues still had radar but their radios went dead, prompting frantic calls to their counterparts in New York urging them to keep their planes away from Newark’s airspace.Then, for 30 harrowing seconds until the radios came back, there was nothing more to do but hope — as they had no means of telling pilots how to avoid crashing their planes into one another.Shortly after that, one controller discovered…

As central bankers weigh the possibility of President Trump’s tariffs reigniting inflation, major companies are foreshadowing price increases and warning that shoppers are tightening their wallets.Executives at several companies that sell popular consumer products, like toys and wet wipes, this week pointed to signs of a pullback in spending. The comments came against a backdrop of plunging consumer sentiment as many companies have said that they intended to pass the cost of tariffs onto customers.Signs of slower spending and higher prices pose a challenge for the Federal Reserve, given its dual responsibility for keeping employment steady and inflation stable. Cutting…

Clarence O. Smith, who convinced skeptical mainstream advertisers of the power and worth of the Black female consumer market as a founder of Essence, the first general-circulation magazine directed at Black women, died on April 21. He was 92.Mr. Smith, who lived in Yonkers, N.Y., died in a hospital after a short illness, his niece Kimberly Fonville Boyd said. She provided no other details.Essence began publication as a monthly in May 1970 in an era when negative and sometimes hateful stereotypes of Black women were commonplace, said Edward Lewis, who was one of four founders of Essence and who became…

Americans are spending less at McDonald’s. Fewer container ships are expected at the Port of Los Angeles. Procter & Gamble is raising prices. Mattel is shifting production out of China.Evidence for the economic impact of President Trump’s trade wars is everywhere — except, for the most part, in economic data itself. Consumer spending hasn’t fallen. Layoffs haven’t risen. Businesses haven’t stopped investing in equipment or buying supplies.Economists say it is a matter of time before the impact of tariffs and the uncertainty that Mr. Trump’s on-again, off-again approach to trade policy has created begin to show up in the hard…

The Federal Reserve left interest rates unchanged for a third meeting in a row on Wednesday, as officials stuck to a wait-and-see approach amid heightened uncertainty about how significantly President Trump’s tariffs will raise inflation and slow growth.The unanimous decision to stand pat will keep interest rates at 4.25 percent to 4.5 percent. Rates have been there since December after a series of cuts in the second half of 2024.The Fed gathered at a highly volatile moment for the economy and the global financial system amid an onslaught of policy changes from Mr. Trump just months into his second term…

The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year.That means consumers looking to borrow are likely to have to wait a bit longer for better deals on many loans, but savers will benefit from steadier yields on savings accounts.The central bank is waiting for more clarity on the economic outlook and the impact of President Trump’s policies on tariffs, immigration and widespread federal job cuts. Mr. Trump has publicly attacked the Fed chair, Jerome H. Powell, and his colleagues for keeping…

The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year.That means consumers looking to borrow are likely to have to wait a bit longer for better deals on many loans, but savers will benefit from steadier yields on savings accounts.The central bank is waiting for more clarity on the economic outlook and the impact of President Trump’s policies on tariffs, immigration and widespread federal job cuts. Mr. Trump has publicly attacked the Fed chair, Jerome H. Powell, and his colleagues for keeping…

The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year.That means consumers looking to borrow are likely to have to wait a bit longer for better deals on many loans, but savers will benefit from steadier yields on savings accounts.The central bank is waiting for more clarity on the economic outlook and the impact of President Trump’s policies on tariffs, immigration and widespread federal job cuts. Mr. Trump has publicly attacked the Fed chair, Jerome H. Powell, and his colleagues for keeping…

President Trump’s trade war has created chaos for companies around the world, snarling supply chains, sowing uncertainty and muddling their ability to plan for the future.After announcing tariffs that started at 20 percent for nearly all imports from European Union members — and more on other countries — the president has scaled the rate to 10 percent until July, saying his administration will use the time to negotiate bilateral deals with America’s trading partners. At the same time, Mr. Trump has escalated a trade war with China, potentially squeezing European companies.We are a team of reporters who write about business…