Author: News Room

Nearly a month has passed since President Trump last spoke publicly of his desire to kill the carried interest loophole. (Yes, we know, some of you don’t consider it a “loophole.”) And yet the private equity industry, which stands to lose big if the president upends the tax break, is still bracing for a fight.This is the biggest challenge to the provision since it was nearly neutered three years ago under former President Joe Biden, Grady McGregor writes for DealBook.A reminder: the carried interest rule means that executives at hedge funds and P.E. and venture capital firms pay roughly 20…

This winter, Denver has faced record-breaking Arctic blasts — below-zero temperatures, heavy snowfalls and brutal wind chills. But at Barolo Grill, a longtime Italian fixture in the affluent Cherry Creek neighborhood, the mood is warm. The restaurant has just logged its most lucrative January and February since it opened in 1992.“It is actually a bit bewildering,” said the owner, Ryan Fletter. “I am thrilled and surprised.”The first two months of the year are typically the slowest period for restaurants, and many take a January hiatus. This winter has posed even more challenges: frigid weather across the country, egg prices at…

Send questions about the office, money, careers and work-life balance to [email protected]. Include your name and location, or a request to remain anonymous. Letters may be edited.An Office RomanceI have been dating a man who works at the same company as I do since 2021. Our relationship has since developed, and it has been almost three years now. We love and trust each other, and since we are both in our mid-thirties (an age considered appropriate for marriage in Korea, where we live), we have decided to get married next year.For the past three years, I have kept the fact…

At the end of February, the House of Representatives passed a budget calling for up to $4.5 trillion in tax cuts over 10 years.Now, the haggling begins.Many of the tax cuts from the 2017 tax bill, which passed during President Trump’s first term, are set to expire at the end of this year. He wants them renewed, and Congress has shown little appetite for crossing him.Extending those provisions would eat up most of that $4.5 trillion, and on the campaign trail, Mr. Trump floated many additional ideas for tax cuts that would cost a lot of money. Few are likely…

As President Trump puts new tariffs on goods from China and threatens a trade war with allies like Mexico and Canada, one global company is likely to suffer less than most of its competitors: Tesla.But the electric car maker led by Elon Musk, which accounts for a third of the billionaire’s wealth, is also vulnerable if relations with China worsen. That country is the company’s second-largest market after the United States and it produces more cars there than anywhere else.Tesla has built largely self-sufficient supply chains in the United States and China, a rarity in a world of interconnected trade.…

China announced tariffs of up to 100 percent on canola, pork and other foods from Canada on Saturday, in retaliation for Canada’s decision last August to collect steep taxes on imports of Chinese electric vehicles, steel and aluminum.The Chinese tariffs, which take effect on March 20, were also a clear warning to Canada — and, indirectly, Mexico — not to cooperate with the United States on trade. The Trump administration, like the Biden administration before it, has been demanding that Canada and Mexico not serve as back doors for low-cost Chinese goods to enter the U.S. market under North American…

President Trump signed an executive order instructing administration officials to alter a student loan forgiveness program for public servants to exclude nonprofit organizations that engage in activities that have what he called a “substantial illegal purpose.”His order to restrict the program appears to target groups supporting undocumented immigrants, diversity initiatives or gender-affirming care for children, among others, as the Trump administration has sought to eliminate federal support for efforts that have drawn right-wing ire.The order, made public on Friday, is the latest of many attempts to overhaul the loan forgiveness program, which has often whipsawed borrowers with rule changes and…

To hear Dan Bongino describe it, the Federal Bureau of Investigation is “the single most corrupt law enforcement institution” in America and a “full-blown leftist political action committee” devoted to covering up Democratic crimes and withholding the truth from the American people.“It is time for an absolute housecleaning,” he said in 2023.Now Mr. Bongino — the longtime right-wing pundit, podcaster and vocal ally of President Trump — has been tapped to serve as the agency’s new deputy director. His podcast and radio show will end production on March 14.The job, which does not require Senate confirmation, has traditionally been filled…

The Justice Department is in the early stages of investigating major egg producers in the United States over possible antitrust violations as the price of eggs skyrockets, two people familiar with the matter said.The department’s lawyers are preparing to send civil investigative demands — effectively subpoenas for civil investigations — to several producers, including Cal-Maine Foods and Rose Acre Farms, one of the people said. Investigators are looking at whether the companies are sharing sensitive information about pricing and supply, contributing to a spike in prices.The inquiry is being run out of the antitrust division’s Chicago office, the people said.A…

President Trump’s family business sued Capital One on Friday for “unjustifiably terminating” more than 300 of its bank accounts after the Jan. 6, 2021, attack on the Capitol, the latest sign that the president and his allies are seeking retribution against those who once shunned them.In a complaint filed in state court in Florida, the Trump Organization accused the bank of arbitrarily closing its accounts in June 2021 in violation of various consumer protection laws. The accounts held millions of dollars at the time, according to the lawsuit.“By filing this lawsuit, we seek to hold Capital One accountable for the…