Capital One cleared a significant obstacle to its proposed acquisition of Discover Financial Services after the Justice Department told regulators that it doesn’t see sufficient competition concerns to block the deal, according to two people with knowledge of the matter. The deal, a $35 billion merger of some of the nation’s largest credit card companies … Read more
Tariff turmoil President Trump’s tariff week has arrived, and the world is none the wiser about what to expect. Among the unknowns: Who will get hit, and by how much? Tariff tensions have fueled a $5 trillion stock market sell-off over the past six weeks, and Goldman Sachs economists have just raised their odds of … Read more
President Trump says he is outraged by the fact that the United States imports more goods than it sends to the rest of the world. What he rarely mentions, though, is that when it comes to services, the tables are turned. Service sectors — which include the finance, travel, engineering and medical industries and more … Read more
For decades, Larry Ellison reveled in being the Silicon Valley executive who really knew how to have a good time. He spent as much as $200 million building a Japanese-inspired imperial villa near Palo Alto, Calif., bought the sixth-largest Hawaiian island and dated and married and divorced with never-ending zeal. Few paid much attention to … Read more
In the escalating trade war with the United States, European officials are discussing imposing barriers on imports of U.S. services with a trade weapon that could allow the bloc to place restrictions on Big Tech and Wall Street. “We have the power to push back,” Ursula von der Leyen, the European Commission president, said this … Read more
“The capital need is in the trillions, not billions,” Ms. Anadu said. “It’s no secret that there’s a big market opportunity,” said Bennett Goodman, the executive chairman and a co-founder of Hunter Point Capital, an investment firm that backed Vistria in 2022. “What’s hard is being able to put together a scalable platform where you … Read more
The stakes behind Musk’s China briefing The boundaries of Elon Musk’s influence appear to be expanding by the day: The Times broke the news that the Pentagon was scheduled to brief him on its plans for any war with China. While the highly unusual development raises all sorts of questions, it underscores just how deeply … Read more
Over the last 12 months, Google’s efforts to use artificial intelligence to accelerate drug design have achieved breakthroughs in mimicking human biology and won its top scientists the Nobel Prize in Chemistry. Now Isomorphic Labs, the division within the software giant meant to develop and commercialize the technology, is taking another big step: raising money … Read more
Paul Marchant, the chief executive of Primark, has resigned “with immediate effect” from his role leading the discount clothing retailer after an allegation about his behavior, the company announced Monday. Mr. Marchant, who joined Primark in 2009, left after the company hired lawyers to investigate “an allegation made by an individual about his behavior towards … Read more
