Oil prices swooned on Wednesday as economic uncertainty rippled through global markets, a reaction to President Trump’s tariffs on Canada, China and Mexico and a decision by members of the OPEC Plus oil cartel to begin increasing crude production in April. Since last year, OPEC Plus has signaled its intention to pump more oil, but … Read more
Adidas said Wednesday that it had sold its last pair of Yeezys, a wildly popular and profitable sneaker brand it developed with the rapper and designer Ye, as it tried to move past the publicity nightmare that followed after Ye’s antisemitic comments. The sportswear giant severed ties with Ye, formerly known as Kanye West, in … Read more
A clash over Musk’s latest missive Monday could bring a standoff between Elon Musk and huge swaths of the federal government, including Trump-appointed agency leaders. The fate of the latest example of Musk’s brutal management style — having government workers justify their employment by midnight or risk being fired — may reveal the limits of … Read more
Tesla’s sales in Germany plunged in February, part of a wider slump across Europe that has undercut the company’s share price and highlighted anger at the political activities of Elon Musk, the company’s chief executive. Sales of Tesla cars in Germany, Europe’s largest market for electric vehicles, dove 76 percent in February compared with a … Read more
President Trump had been hammering Panama for weeks over its most valuable asset, the Panama Canal, saying, without evidence, that China operated the waterway. There seemed to be no way Panama could get Washington off its back. On Tuesday, Wall Street intervened. An investment group led by BlackRock, a giant American asset manager, said it … Read more
The crypto market gives and takes: After President Trump’s plan for a national crypto reserve drew backlash from both Republicans and investors, the prices of digital tokens that would be involved soared higher — and then tumbled. (Bitcoin was trading at about $83,800 early on Tuesday, down nearly $10,000 from a day ago.) The plan … Read more
The good, bad and puzzling Corporate leaders and investors expected a bit of volatility to accompany President Trump’s second term. In many ways, that’s exactly what has happened one month in, with the radical cutting of the federal government, threats of trade wars and more. But amid a flurry of unexpected announcements — talks over … Read more
Shari Redstone, the controlling shareholder of the entertainment giant Paramount, delivered a crucial message to her board a few weeks ago. For months, Paramount’s lawyers had been jousting with representatives for President Trump, who had sued the company’s CBS News network over its segment on former Vice President Kamala Harris. Mr. Trump accused the network … Read more
Global stocks tumbled on Tuesday as investors’ concerns over the future health of the economy mounted after President Trump’s broad tariffs against Canada, Mexico and China went into effect. The S&P 500 fell 0.7 percent at the start of trading on Tuesday, adding to the 1.8 percent loss on Monday that was its sharpest decline … Read more
Global stock markets and shares in European carmakers tumbled on Tuesday as President Trump’s broad tariffs against Canada, Mexico and China came into effect. European stocks slumped as investors weighed the prospects of a global trade war after China and Canada quickly retaliated with tariffs of their own. U.S. futures signaled that the S&P 500 … Read more