Author: News Room
In December 1967, when he arrived at a snowy farm on China’s northeastern border with the Soviet Union, Xu Chenggang carried with him an electron tube to help him assemble a radio.Mr. Xu, a 17-year-old Beijing native, would spend the next 10 years there, living in a horse stable and subjected to re-education and persecution for his anti-revolutionary thinking. One thing that got him through the cold, dark decade was the tube radio that brought him Voice of America programs.He learned about the Prague Spring, the Watergate scandal and President Richard Nixon’s resignation, as well as criticisms of Chairman Mao…
The restaurant that Tesla is building in Los Angeles — an old-fashioned drive-in retooled for the electric-car era — now has a chef, according to a post on X by an account that shares Tesla news.“The diner will feature a ‘1950s retro charm, dazzling neon lights, the unmistakable scent of freshly grilled burgers & hand-spun milkshakes,’” said the post, written by Sawyer Merritt on Wednesday night. It reported that the menu will be in the hands of the chef Eric Greenspan, a Los Angeles entrepreneur who has a virtual-restaurant company and a boutique brand of American cheese.“It will be cool,”…
The long-running battle over whether to allow Pacific Ocean seabed mining took an unexpected turn Thursday when a company disclosed it had been confidentially negotiating a plan with the Trump administration to circumvent a United Nations treaty and perhaps obtain authorization from the United States to start mining in international waters.The proposal, which drew immediate protests from environmental groups and diplomats from some countries, represents a radical shift in the contentious debate over accessing deposits on the sea floor that contain copper, cobalt, manganese and other metals that are needed for electric-car batteries.The International Seabed Authority, established 30 years ago…
When CoreWeave, the cloud computing company vying to become the first major artificial intelligence start-up to go public, filed paperwork for a public listing earlier this month, it was a mark of optimism in an otherwise rocky market for I.P.O.s.But now that optimism has faded as the New Jersey-based CoreWeave significantly reduced the size and value of its offering on Thursday. The company is now expected to price its shares at $40 when it begins trading on Friday, according to the company, down from recent estimates in filings that its shares would be priced at $47 to $55 a share.Initially…
All aircraft flying near Ronald Reagan National Airport will now be required to broadcast their positions to air traffic controllers, the acting administrator of the Federal Aviation Administration told a Senate subcommittee on Thursday.The policy, which took effect on Thursday, was put in place after it was revealed that technology in an Army helicopter that collided with a passenger jet near the airport in January was turned off at the time of the deadly crash.Known as the Automatic Dependent Surveillance-Broadcast Out, the technology broadcasts an aircraft’s position, altitude and speed, and it could have allowed air traffic controllers to better…
Amazon’s longtime head of film and television, Jennifer Salke, is stepping down from her position after seven years on the job, the company said on Thursday, a sudden move that shakes up the top ranks of the streaming giant.Ms. Salke will move into a producing deal at Amazon and will not be replaced, Mike Hopkins, head of Prime Video and Amazon MGM Studios, said in a staff memo. Instead, he added, he has decided to operate distinct film and television studios. Courtenay Valenti will continue to oversee film while Vernon Sanders will remain atop television.“Jen has decided that her next…
President Trump and his supporters have clashed with mainstream economists for years about the merits of tariffs. Now, the world will get to see who is right, as the president’s sweeping levies on automobiles and auto parts play out in a real-time experiment on the global economy.In Mr. Trump’s telling, tariffs have a straightforward effect: They encourage companies to move factories to the United States, creating more American jobs and prosperity.But for many economists, the effect of tariffs is anything but simple. The tariffs are likely to encourage domestic car production over the long run, they say. But they will…
The elite law firm Skadden, Arps, Slate, Meagher & Flom has had discussions with President Trump’s advisers about a deal to avert the type of executive order that the White House has been imposing on many of its competitors, according to five people briefed on the matter who were not authorized to speak publicly about private conversations.The talks represent an extraordinary turn in Mr. Trump’s campaign against law firms and the legal system more broadly, marking what appears to be the first time that a major firm has tried to cut a deal with the president before he could issue…
new video loaded: World Leaders React to Trump’s Auto TariffstranscriptBacktranscriptWorld Leaders React to Trump’s Auto TariffsPresident Trump’s announcement of 25 percent tariffs on imported cars and auto parts prompted world leaders to rebuke the decision.“It’s my solemn promise that when President Trump threatens us again, we will fight back. We will fight back with everything we have to get the best deal for Canada.”Recent episodes in BusinessShow more videos from Business
There is no doubt the tariffs that President Trump said he would impose on imported cars, trucks and auto parts next week will raise prices by thousands of dollars for consumers.What is not clear is how soon those increases will kick in, how high they will go and which models will be affected the most.The tariffs — 25 percent on imported vehicles and automotive parts — are supposed to take effect next Thursday. But many car dealers said they were putting aside the question of price increases for now to focus on ending March with a sales flourish in the…