Author: News Room

President Trump’s promise during last year’s election to make it far easier to drill for oil and gas thrilled energy executives who believed his policies would lower their costs and help them make a lot more money.Those hopes are now fading. Thanks to Mr. Trump’s tariffs, the oil and gas industry is contending with rising prices for essential materials like steel pipes used to line new wells.That has not yet translated into a meaningful change in U.S. drilling activity or production expectations, but companies have begun revising budgets to reflect higher materials costs. Decisions made today about which wells to…

With the government seemingly stepping back from regulatory duties, consumers may have to act as their own financial watchdogs.The Consumer Financial Protection Bureau, the independent federal agency created after the 2008 financial crisis to shield people from fraud and abuse by lenders and financial firms, has been muzzled, at least temporarily.“Everything is on pause right now,” said Delicia Hand, senior director of digital marketplace with Consumer Reports. “So it’s back on consumers to be extra diligent.” Ms. Hand previously spent nearly a decade in a variety of roles at the Consumer Financial Protection Bureau, including overseeing complaints and consumer education,…

Rising prices hit a trade war President Trump isn’t backing off his tariff threats, despite the potential risk to the U.S. economy and financial markets.That puts additional focus on the latest Personal Consumption Expenditures report, the Fed’s favored inflation measure. It’s due for release at 8:30 a.m. Eastern.The question is whether lingering inflation also will have big implications for the Trump agenda, with some economists predicting that tariffs will raise inflation and lower growth, even if the target countries don’t retaliate. Friday’s report is expected to show only slight relief for consumers.Economists worry about a hot P.C.E. reading, which could…

Cassandra Orakpo had enough.Too much, in fact. Shopping on her phone had become so easy it had turned into a bad habit. She bought a cake decorating kit, thinking she’d make her own birthday cake, and never even took it out of the box. She has at least 80 bottles of perfume stored in her closet. And despite all the clothes she has purchased, she feels she has nothing to wear.“Clearly my buying has gotten to a place where it’s bordering on hoarding,” Ms. Orakpo said.So toward the end of last year, Ms. Orakpo, who is 31 and lives in…

President Trump has issued an unremitting stream of tariff threats in his first month in office, accompanied by nearly as many reasons for why they should go into effect.Tariffs on Canada, Mexico and China are a cudgel to force those countries, America’s largest trading partners, to crack down on the flow drugs and migrants into the United States. Levies on steel, aluminum and copper are a way to protect domestic industries that are important to defense, while those on cars will prop up a critical base of manufacturing. A new system of “reciprocal” tariffs is envisioned as a way to…

Starbucks is “reclaiming the ‘third place.’”That’s what its chief executive, Brian Niccol, proclaimed in an October earnings call, after the coffee giant suffered a slide in sales and store traffic.He was echoing a statement he had made when he started the job in September — that he wanted to re-establish Starbucks as “a gathering space” where people want “to linger” — a vibe that some say has been lost as drive-through and mobile pickup orders have come to outnumber longer visits.How it’s pronounced/thûrd plās/The term “third place” was coined by the urban sociologist Ray Oldenburg in his 1989 book, “The…

“Rely less on the airline to just offer you a good deal,” Mr. Leff said. “Often you want two cards: one that earns multiple points in the category where you spend the most, and one that pairs in the same ecosystem from the same bank that earns 1.5 or two points per dollar.” This means using two cards from the same bank — for example, pairing Chase’s Sapphire Preferred with its Freedom Unlimited card to pool their earned points.This flexibility proves crucial as sweet spots move between programs. Virgin Atlantic, for instance, charges just 90,000 miles for ANA first-class flights…

The Securities and Exchange Commission said on Thursday that so-called memecoins — novelty digital assets — are not subject to regulatory oversight because they are not considered securities.The determination could have big ramifications for the crypto industry and President Trump, who issued his own memecoin days before his inauguration.The S.E.C.’s policy on memecoins is consistent with the light regulatory approach that Mr. Trump promised to take toward the crypto industry during his campaign.Mr. Trump and his family firmly embraced digital currencies last year by teaming up with a new digital assets company, World Liberty Financial. The memecoin the president introduced…

For days, Attorney General Pam Bondi had talked about releasing the “Epstein files,” supposedly secret documents the federal government has on some of the powerful men who were in the orbit of the disgraced financier Jeffrey Epstein.But the roughly 200 pages of documents that Ms. Bondi released on Thursday contained little new information pointing to wrongdoing by anyone other than Mr. Epstein, a registered sex offender who died in jail. The document dump largely consisted of flight logs for Mr. Epstein’s planes — long ago made public — and contact information for hundreds of associates, along with brief descriptions of…

“People will die,” said Dr. Catherine Kyobutungi, executive director of the African Population and Health Research Center, “but we will never know, because even the programs to count the dead are cut.”The projects terminated include H.I.V. treatment programs that had served millions of people, the main malaria control programs in the worst-affected African countries and global efforts to wipe out polio.Here are some of the projects that The New York Times has confirmed have been canceled:A $131 million grant to UNICEF’s polio immunization program, which paid for planning, logistics and delivery of vaccines to millions of children.A $90 million contract…