Author: News Room
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…
We’re taking a look at President Trump’s plans to consolidate control over many of the agencies that oversee business, including the S.E.C., the Federal Trade Commission, the Federal Communications Commission and the National Labor Relations Board.For years, industry has complained about the alphabet soup of agencies, which often compete with one another. Some officials argue that is a feature, not a bug, while others have called for a complete rethinking of the regulatory apparatus in the country. What do you think?Meanwhile, President Trump is expected to speak on Wednesday at the Saudi-hosted FII Priority conference in Miami Beach, the event…
In the Wichita courtroom, Hanes offered his only public reflection on the bank collapse. Wearing a gray suit, he walked up to the lectern, glancing nervously at his former friends in the gallery. “I’m sorry,” he told the judge. Until the very end, he explained, he thought he was involved in a legitimate business deal. In January 2024, he told the court, he made a futile attempt to recoup the lost money, flying to Perth, Australia, where some of his nonexistent business partners had supposedly been based. He was in touch with them until the moment he landed at the…
Last week, Michelle King, the acting commissioner of the Social Security Administration, sought to reassure Democrats on Capitol Hill about the presence of two of Elon Musk’s allies at her agency.The Social Security Administration keeps medical information, bank account numbers and other sensitive personal data about the roughly 70 million Americans it provides with more than $1 trillion in benefits annually. In the Feb. 11 letter to Senator Ron Wyden, Democrat of Oregon, Ms. King said that the two representatives, from the so-called Department of Government Efficiency, or DOGE, had not yet seen personal information — and said any disclosures…
The PGA Tour and Saudi Arabia’s sovereign wealth fund are racing to reshape their plans to combine their rival golf circuits, emboldened by President Donald J. Trump’s eagerness to play peacemaker for a fractured sport, according to four people familiar with the matter.Since the start of secret talks in April 2023, PGA Tour executives and their Saudi counterparts have been weighing how they could somehow blend the premier American golf circuit with the Saudis’ LIV Golf operation. But negotiators have struggled to design a deal that would satisfy regulators along with players, investors and executives.Mr. Trump’s return to Washington has…
Humane, the ambitious start-up behind the Ai Pin device that aimed to one day replace smartphones, agreed to sell parts of its business to HP for $116 million, the companies said on Tuesday.HP said it planned to acquire Humane’s “A.I. capabilities,” including its software platform, intellectual property, patents and some employees. The Ai Pin will be shut down, Humane said in a message to customers.The deal caps a downfall for the high-flying start-up, which heavily promoted the $699 pin with ads, a TED Talk and at Paris Fashion Week with supermodels. Humane raised $240 million in funding from high-profile investors,…
News that the Trump administration had agreed with Russia to try to negotiate a peace settlement for Ukraine, without including Ukraine in the talks, was a revelation that many believed reversed years of efforts to isolate Moscow.But prominent voices in the right-wing media world interpreted the development this week as cause for celebration.“Every day has kind of felt like Christmas morning, hasn’t it?” Kari Lake, the former TV news anchor who is poised to run Voice of America, said during a podcast interview on Tuesday. “President Trump wants peace for every nation.”Charlie Kirk, the co-founder of Turning Point USA and…