Author: News Room

High inflation is stoking fresh debate about how the Federal Reserve should respond to President Trump’s sweeping plans to reorder the world economy through tariffs, leading to questions about whether old playbooks still apply.On Saturday, Mr. Trump is poised to impose 25 percent tariffs on imports from Mexico and Canada as well as an additional 10 percent tariff on Chinese goods. That move comes on the heels of threats to impose hefty tariffs on Colombia, which were rescinded after its government complied with Mr. Trump’s demands to accept deported migrants.Howard Lutnick, Mr. Trump’s nominee to oversee the Commerce Department and…

Staffing at the air traffic control tower at Ronald Reagan National Airport was “not normal for the time of day and volume of traffic,” according to an internal preliminary Federal Aviation Administration safety report about the collision that was reviewed by The New York Times.The controller who was handling helicopters in the airport’s vicinity Wednesday night was also instructing planes that were landing and departing from its runways. Those jobs typically are assigned to two controllers, rather than one.This increases the workload for the air traffic controller and can complicate the job. One reason is that the controllers can use…

OpenAI, the San Francisco artificial intelligence company that has been on a yearslong money-raising frenzy, is in talks with the Japanese conglomerate SoftBank for an investment up to $25 billion, according to three people familiar with the negotiations.Some of that money could be used to cover OpenAI’s commitment to Stargate, the $100 billion data center project announced at the White House last week, the people said. But the money would be separate from the investment SoftBank is already putting into that project.The sources, who requested anonymity because the talks were confidential, stressed that discussion around the terms of the investment…

After Apple unveiled artificial intelligence features for iPhones last year, the company’s stock soared in anticipation that the new abilities would provide a jolt to a stale business. But a boom in sales hasn’t materialized.On Thursday, the tech giant said it sold $69.14 billion worth of iPhones in its most recent quarter, a 0.8 percent decrease from a year earlier and 3.5 percent below the quarterly sales record it reported in early 2022. The company’s sales of apps and services, like Apple Music and Apple TV+, were up, helping to offset the modest performance of its iPhone business.Apple’s quarterly revenue…

As European automakers brace for a possible trade war waged by President Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets.Under stricter European Union regulations taking effect this year, automakers selling cars in Europe face hefty penalties if their vehicle production fails to meet tough targets for reducing carbon emissions. With demand for electric cars in Europe slumping and manufacturers squeezed by competition from China, automakers, politicians and industry groups are lobbying for relief.After an industry…

Clues emerging from the moments before the deadly collision Wednesday night between an Army helicopter and an American Airlines passenger jet suggest that multiple layers of the country’s aviation safety apparatus failed, according to flight recordings, a preliminary internal report from the Federal Aviation Administration, interviews with current and former air traffic controllers and others briefed on the matter.The helicopter flew outside its approved flight path. The American Airlines pilots most likely did not see the helicopter close by as they made a turn toward the runway. And the air traffic controller, who was juggling two jobs at the same…

China is the world’s factory floor. From high-end digital devices to inexpensive tchotchkes, many of the products that are bought and sold in the United States are made in China.President Trump has announced plans to impose additional tariffs on Chinese-made goods imported to the United States. Trade tensions between the world’s two largest economies are already high.We are a team of reporters who write about business and economic issues for The New York Times with a special focus on China and how geopolitical issues affect companies, businesses and people. We have written about how Chinese electric vehicles are flooding into…

Rohit Chopra, the director of the Consumer Financial Protection Bureau, expected to be fired soon after President Trump took office. More than a week later, he remains in his job — a source of puzzlement among his allies and frustration for those who want to see him gone.“I swore an oath to a five-year term, and I will keep serving that until I can pass the baton to someone else,” Mr. Chopra, who was appointed in 2021 by President Joseph R. Biden Jr., said in an interview this week. “I totally respect and understand that the president can choose a…

When Donald J. Trump sued CBS for $10 billion days before the 2024 election, accusing the company of deceptively editing a “60 Minutes” interview with Vice President Kamala Harris, many legal experts dismissed the litigation as a far-fetched attempt to punish an out-of-favor news outlet.Now Mr. Trump is back in the White House, and many executives at CBS’s parent company, Paramount, believe that settling the lawsuit would increase the odds that the Trump administration does not block or delay their planned multibillion-dollar merger with another company, according to several people with knowledge of the matter.Settlement discussions between representatives of Paramount…

In a wide-ranging question-and-answer session with Meta employees on Thursday, Mark Zuckerberg, the company’s chief executive, defended recent changes he had made to loosening restrictions on online speech and ending diversity initiatives, and doubled down on embracing President Trump’s new administration.“I want to be clear, after the last several years, we now have an opportunity to have a productive partnership with the United States government,” Mr. Zuckerberg said, according to a recording of the meeting shared with The New York Times. “We’re going to take that.”Mr. Zuckerberg, 40, said it was “fundamental” for Meta — the world’s biggest social media…