Author: News Room
Yale University’s famed endowment has been trying to offload one of the largest portfolios of private equity investments ever in a single sale, a move that reflects the pressures on both Wall Street and higher education under the Trump administration.The Ivy League school has sought buyers for up to $6 billion in stakes in private equity and venture funds, according to three people briefed on the sales process, amid uncertainty about its federal funding and the reality that many of these investments have not delivered the outsized returns that Yale had come to expect.Yale is now close to completing a…
American entrepreneurMs. Dickerson Chinese entrepreneurMr. Hu American entrepreneurMr. Soong Chinese entrepreneurMr. Wong When Elyse Dickerson needed to build out her U.S. ear care business quickly, she turned to Gorton Hu in China to make essential parts. When Elyse Dickerson needed to build out her U.S. ear care business quickly, she turned to Gorton Hu in China to make essential parts.When Patrick Soong needed to get a camera accessory made for an American firm, he also turned to China, reaching out to Martin Wong and his makeshift factory. When Patrick Soong needed to get a camera accessory made for an American…
President Trump has announced wave after wave of tariffs since taking office in January, part of a sweeping effort that he has argued would secure better trade terms with other countries. “It’s called negotiation,” he recently said.In April, administration officials vowed to sign trade deals with as many as 90 countries in 90 days. The ambitious target came after Mr. Trump announced, and then rolled back a portion of, steep tariffs that in some cases meant import taxes cost more than the wholesale price of a good itself.The 90-day goal, however, is a tenth of the time it usually takes…
There’s no question that President Trump’s proposal to stop taxing tips has broad appeal. It’s popular in polling, lawmakers in both parties support it, and now a version of the idea is on its way to becoming law.But the effect of the policy would actually be quite narrow. About 3 percent of American workers receive tips, but about a third of those employees would not see a gain from the change.That’s because of the way Republicans structured the policy in the tax legislation they passed through the House recently. Here’s who would benefit under their plan — and who wouldn’t.The…
Welcome to Lit Trivia, the Book Review’s regular quiz about literary culture. This week’s installment salutes the tenacity of the literary strivers who worked a variety of jobs before finding success as novelists. In the five multiple-choice questions below, tap or click on the answer you think is correct. After the last question, you’ll find links to some of their most popular works.
President Trump’s on-and-off tariffs have created deep uncertainty about the cost of imported goods — and it’s not always clear what goods will be most affected with any given country.The largest U.S. imports from many countries are oil and gas, electronics, cars and pharmaceuticals. But there’s another way to look at what Americans import: trying to measure a country’s distinct contribution to the U.S.’s total needs.For example, China’s largest exports to the U.S. — by dollar value — are electronics. But the U.S. also imports large quantities of electronics from elsewhere. Nearly 100 percent of imported baby carriages, however, come…
new video loaded: Toy Company Still In Crisis Despite Reduced Tariffs on ChinatranscriptBacktranscriptToy Company Still In Crisis Despite Reduced Tariffs on ChinaA Chinese toy factory has gotten little relief after the United States and China agreed to temporarily lower tariffs. The company has been sitting on boxes of unshipped goods and unable to rehire staff.“It’s existential. We might not exist.” “There is so much uncertainty. I don’t know what will happen tomorrow.” “We have reduced staff by 50%. We’ve stopped all business development as far as product development and any plans for expansion right now or are on hold.” “I’m…
Photo Illustration by Zak Bickel/The New York Times; Photographs via Getty; Unsplash Tariffs are up. Tariffs are down. Shipping is frozen. Shipping is back on.In the past several weeks, Chinese imports to the U.S. have been on a seesaw, leaving Americans uncertain how tariffs will affect their lives.It’s impossible to say what tariffs will do to the price or availability of any particular item, although even the Trump administration’s current level of 30 percent tariffs — on top of previous levies — will certainly make many things more expensive.But thanks to detailed trade data, we know what Americans buy from…
Over the course of one week, some of the richest people in the world descended on New York’s auction houses to purchase over $1 billion of art. It might have played out a little differently than you would have expected.Can you guess which of these works sold for more?Note: Listed sale prices include auction fees.Image credits: “Untitled,” via Phillips; “Baby Boom,” via Christie’s Images LTD; “Hazy Sun,” With permission of the Renate, Hans & Maria Hofmann Trust/Artists Rights Society (ARS), New York; via Christie’s Images LTD; “Petit Matin,” via Christie’s Images LTD; “Concetto spaziale, La fine di Dio,” Artists Rights…
This summer, one of Staffordshire’s most talked-about bridal boutiques is growing—again. Wedding Belles Love is opening a second store with the same mission: stunning wedding gowns for every body, ready to take home today. Known for their inclusive, off-the-peg approach, Wedding Belles Love stocks dresses in sizes 0 to 36—shattering industry norms and proving that beauty comes in every shape and size. “We’re creating a space where every bride can walk in, find a dress they love, and feel amazing regardless of size or budget,” said Claire Sutton, Company Director of Wedding Belles Love. “Too many women have been told…