Author: News Room
Tesla shares plunged on Monday, hitting their lowest point since before Election Day, as investors registered the impact of falling sales and increasing protests over the high-profile political role that Elon Musk, the company’s chief executive, has taken on.In midday trading, the electric-car maker’s shares were down more than 11 percent for the day, and more than 50 percent from a mid-December peak. The day’s loss far outstripped the 2 percent drop in the S&P 500.The steep rise in Tesla shares that followed Donald J. Trump’s election as president, and Mr. Musk’s appointment as de facto government cost-cutting czar, has…
The social media platform X, formerly Twitter, was experiencing intermittent outages on Monday, mostly on its app, according to Downdetector, which tracks reports of problems from users on websites.The first outages on X, which Elon Musk bought for $44 billion in 2022, were reported before 6 a.m. Eastern time, after which the site and app seemed to resume functioning. But at about 10 a.m. more problems arose, and there were 41,00 reports of outages on X, according to Downdetector. Shortly after 11 a.m., a third spike of reported outages emerged, and the site remained down for many users.More than half…
Ask any prominent podcast host for a list of dream interview guests, and it is quite likely that Michelle Obama’s name would be on it.That is why the former first lady shouldn’t have much trouble booking whomever she likes on her new show, “IMO,” short for “in my opinion,” which she will host with her older brother, the basketball executive Craig Robinson.The podcast was announced on Monday by Higher Ground, the media company founded in 2018 by former President Barack Obama and Mrs. Obama.Higher Ground’s podcasts lean toward prestige cultural programming. Previous releases include a limited series about Stevie Wonder,…
Stock markets fell further on Monday as investors around the world worried about the health of the American economy as businesses brace for the destabilizing effects of tariffs on global trade.The S&P 500 fell 1.5 percent in at the start of trading on Wall Street, adding to last week’s losses, which were the steepest in several months. After three straight weeks of selling, the index is now about 7 percent below a record set last month, approaching a “correction,” a Wall Street term for a significant decline from a recent high.The tech-heavy Nasdaq has been hit particularly hard. It fell…
Trump stays the courseEven President Trump has acknowledged that his pugnacious economic agenda is looking increasingly risky. Asked on Fox News this weekend if he expected a recession this year, he allowed only, “I hate to predict things like that.”That dodge comes as his trade war continues to escalate and companies warn that his steep government cuts and immigration crackdown may cost them financially. The question is: Will the president stick with his plans?The latest: Beijing has begun imposing tariffs on U.S. agricultural goods — including key exports like chicken, wheat, soybeans and pork — as well as blocking or…
More than 100,000 Americans are on waiting lists for donor organs, most needing a kidney. Only 25,000 human donor kidneys become available each year. Twelve Americans on the kidney list die every day on average.Scientists first transplanted genetically engineered pig organs into other animals and then to brain-dead human patients. In 2022, researchers received permission to transplant the organs into a few critically ill patients, and then, last year, into healthier people.Now, for the first time, a formal clinical study of the procedure is being initiated.“Just imagine, you have kidney disease and know your kidneys are going to fail, and…
Beth Crowell was proud to work for the Internal Revenue Service.She had spent much of her career as an accountant for large corporations, gaining intimate knowledge about how they do — and sometimes don’t — pay the taxes they owe. Working for the I.R.S. in Colorado, she hoped to put her skills to a new use. She wanted to help collect more money for the federal government.Not long after joining last July, she had her chance. Ms. Crowell, 64, joined a team that had started an audit of a company earning roughly $3 billion a year. The I.R.S. had never…
The United States buys more steel from Canada than from any other country, and those imports will become much more expensive under tariffs President Trump intends to impose this week.That’s good news to Stephen Capone, president of Capone Iron Corporation of Rowley, Mass., which makes steel stairs, handrails, gratings and other products and has around 100 employees. For too long, he said, Canadian competitors have been flooding the New England market with cheap steel products, preventing his and other local companies from winning business.“No matter how low we bid, they can underbid us on any job,” Mr. Capone said, “They’re…
Beijing began imposing tariffs on Monday on many farm products from the United States, for which China is the largest overseas market. It is the latest escalation of a trade fight between the world’s two-largest economies.The Chinese government announced the tariffs last week, shortly after President Trump raised tariffs on Chinese products for the second time since he took office in January. The Chinese tariffs will include a levy of 15 percent on U.S. products like chicken, wheat and corn, as well as 10 percent on products like soybeans, pork, beef and fruit.Beijing said that goods that had already been…
The railroad tracks that slice through downtown Freehold, N.J., used to be lined by dozens of men, waiting for work. Each morning, the men — day laborers, almost all from Latin America and undocumented — would be scooped up by local contractors in pickup trucks for jobs painting, landscaping, removing debris.In recent weeks, the tracks have been desolate. On a gray February morning, a laborer named Mario, who came from Mexico two decades ago, said it was the quietest he could remember.“Because of the president, we have a fear,” said Mario, 55, who agreed to be interviewed on the condition…