Author: News Room

The end of a troubled takeover bidPresident Biden is set to officially block Nippon Steel’s $14 billion takeover of U.S. Steel as soon as Friday, most likely putting an end to an industrial megadeal that ran up against widespread political opposition.But the decision could set off a cascade of consequences, including whether it would dissuade foreign investment in key industries, even from crucial U.S. allies like Japan. There’s one near-certainty: Expect a lot of litigation.The deal’s demise seemed increasingly inevitable. In March, Biden said it was “vital” that U.S. Steel remained American-owned. The United Steelworkers’ union opposed the transaction from…

The Treasury Department imposed sanctions on a Beijing-based cybersecurity company on Friday, blaming it for helping Chinese hackers infiltrate U.S. communications systems and conduct surveillance across four continents.In an announcement, the department said the company, Integrity Technology Group, had supported a Chinese state-sponsored hacking group known as Flax Typhoon in a campaign to break into foreign networks between the summer of 2022 and 2023, saying it found the group had “routinely sent and received information from Integrity Tech infrastructure.”The action came after the Treasury Department revealed in a letter to lawmakers this week that a Chinese intelligence agency had breached…

The Transportation Department announced on Friday a $2 million penalty against JetBlue Airways for operating several flights on the East Coast that chronically arrived late in 2022 and 2023. Half of the money collected will go to the impacted passengers.The penalty is the first time that the D.O.T. has fined an airline for chronic delays, which the federal agency defines as flights that are flown at least 10 times a month that arrive more than a half-hour late more than 50 percent of the time.“Illegal chronic flight delays make flying unreliable for travelers. Today’s action puts the entire airline industry…

To members of his synagogue, the voice that played over the speakers of Congregation Emanu El in Houston sounded just like Rabbi Josh Fixler’s.In the same steady rhythm his congregation had grown used to, the voice delivered a sermon about what it meant to be a neighbor in the age of artificial intelligence. Then, Rabbi Fixler took to the bimah himself.“The audio you heard a moment ago may have sounded like my words,” he said. “But they weren’t.”The recording was created by what Rabbi Fixler called “Rabbi Bot,” an A.I. chatbot trained on his old sermons. The chatbot, created with…

General Motors and Ford Motor each reported strong increases in vehicle sales in the United States in the final three months of 2024 amid rising expectations for continued growth in the new year.G.M. said its fourth-quarter sales rose 21 percent from the period a year earlier, to more than 755,000 cars and light trucks. The company’s sales of electric vehicles more than doubled to 43,982 vehicles.Ford sold more than 530,000 vehicles in the quarter, a gain of nearly 9 percent. That included 30,176 electric vehicles, an increase of 16 percent.For the full year, G.M. sold 2.7 million cars and trucks,…

All but two of the 181 people aboard a passenger plane in South Korea were killed on Sunday morning, in the deadliest global aviation disaster in years. Days after the Jeju Air crash, there is little explanation about why the plane went down. As investigators try to piece together what happened, video from the scene and early official reports offer clues. The pilot reported a bird strike at 8:59 a.m. and told air traffic controllers at Muan International Airport that he would abort his landing attempt and circle in the air to prepare for another one. Instead of going all…

Peter ThielLarry EllisonJoe RoganMaye MuskGwynne ShotwellStephen MillerNelson PeltzDonald Trump A look at the people who influence the world’s richest man, and those who stand to gain from their association with him now. By Theodore Schleifer, Ryan Mac, Lily Boyce and Kirsten Grind Elon Musk occupies a rare place at the center of American power. As the “first buddy,” he has won the ear of President-elect Donald J. Trump, having spent over $250 million in the final months of 2024 to help him get elected. Mr. Musk has appeared in family photos at Mar-a-Lago and joined Mr. Trump on calls with world leaders…

Before the answers to life’s questions fit in our pocket, you used to have to turn a dial. If you were lucky, Phil Donahue would be on, ready to guide you toward enlightenment. In a stroke of deluxe good fortune, Dr. Ruth Westheimer might have stopped by to be the enlightenment. He was the search engine. She was a trusted result. Donahue hailed from Cleveland. The windshield glasses, increasingly snowy thatch of hair, marble eyes, occasional pair of suspenders and obvious geniality said “card catalog,” “manager of the ’79 Reds,” “Stage Manager in a Chevy Motors production of ‘Our Town.’”…

Before the answers to life’s questions fit in our pocket, you used to have to turn a dial. If you were lucky, Phil Donahue would be on, ready to guide you toward enlightenment. In a stroke of deluxe good fortune, Dr. Ruth Westheimer might have stopped by to be the enlightenment. He was the search engine. She was a trusted result. Donahue hailed from Cleveland. The windshield glasses, increasingly snowy thatch of hair, marble eyes, occasional pair of suspenders and obvious geniality said “card catalog,” “manager of the ’79 Reds,” “Stage Manager in a Chevy Motors production of ‘Our Town.’”…

new video loaded: The Federal Reserve Cuts Interest Rates By a Quarter Percentage PointtranscriptBacktranscriptThe Federal Reserve Cuts Interest Rates By a Quarter Percentage PointJerome H. Powell, the Federal Reserve chair, announced the central bank’s final interest rate cut for the year and suggested only two more reductions in 2025.The economy is strong overall and has made significant progress toward our goals over the past two years. The labor market has cooled from its formerly overheated state and remains solid. Inflation has moved much closer to our 2 percent longer-run goal. We are committed to maintaining our economy’s strength by supporting…