The growing trade war and rapid policy shifts are expected to drag down economic growth in the United States and around the world, according to projections released on Monday. The resilience that was evident last year is slipping, the Organization for Economic Cooperation and Development said in its latest interim economic report, which estimated that … Read more
Nearly a month has passed since President Trump last spoke publicly of his desire to kill the carried interest loophole. (Yes, we know, some of you don’t consider it a “loophole.”) And yet the private equity industry, which stands to lose big if the president upends the tax break, is still bracing for a fight. … Read more
French Champagne producers do nearly a billion dollars’ worth of business with the United States every year. But on Friday in Épernay, the world capital of sparkling wine, the only number on anybody’s lips was 200. That was the percent tariff that President Trump has threatened to impose on Champagne and other European wines and … Read more
Centerview Partners, one of the financial world’s top independent investment banks, has long been known as a largely Democratic outpost. One of its leaders, Blair Effron, is among the most influential fund-raisers in Democratic politics, while a longtime counselor is Bob Rubin, the former Treasury secretary. Rahm Emanuel, the erstwhile Obama chief of staff, also … Read more
In 2013, Jessica Lessin, a reporter at The Wall Street Journal, left the paper to start a competing publication, The Information. A few years later, her fledgling newsroom had grown to nearly two dozen reporters and editors and booked more than $20 million in sales, as she revealed in a profile I wrote for The … Read more
A contracting firm called Leidos took in more than $16 billion in revenue last year, most of it through contracts with federal agencies like the Department of Veterans Affairs. So when the Trump administration’s budget cutters took aim at the V.A. last month, it seemed like bad news not just for the department’s employees but … Read more
Trump faces an increasingly tough crowd President Trump won over Americans with a promise to return the country to “boom” times of low taxes and deregulation. Fifty days into office, he’s now pitching an economy in “a period of transition” for which he can’t rule out a recession. His stay-patient message may get tested on … Read more
CrossFit, the crisis-riddled fitness company, is for sale once again. The sale comes against the backdrop of several tumultuous years for the fitness brand, after a drowning at last year’s CrossFit Games, a significant drop in registrations for its annual membership-wide competition and deepening financial concerns. The company, which has 10,000 affiliate gyms across the … Read more
French wine producers have typically had a love-love relationship with the United States, their biggest export market. But President Trump’s threat to impose 200 percent tariffs on European wine, Champagne and spirits sent shudders through grand châteaus and small vineyards across the country. “A 200 percent tax on European wines and spirits would mean an … Read more
The cloud behind the inflation silver lining Even upbeat economic news can offer little comfort to markets and the C-suite. Stocks look set to open lower as relief over Wednesday’s better-than-expected inflation report fades, and concerns grow that a trade war could sap consumer spending and corporate profits. That’s led more corporate chiefs to speak … Read more