President Trump’s trade war is expected to slow growth in the world’s leading economies, including the United States, this year and in the years to come, unless world leaders can resolve their differences over trade. The Organization for Economic Cooperation and Development slashed its outlook for global output to 2.9 percent this year, from 3.3 … Read more
Capital One is tightening access to its exclusive airport lounges, no longer allowing all premium credit cardholders to extend free entry to additional cardholders and guests. Starting early next year, Venture X and Venture X Business cardholders will no longer have this perk to offset the card’s nearly $400 annual fee. In its email announcing … Read more
A flashy new website drew a surge of attention on Tuesday afternoon, purporting to announce the latest cryptocurrency venture backed by President Trump. The developers of Mr. Trump’s memecoin, the website said, were working with a company called Magic Eden to launch “the Official $TRUMP Wallet” — a trading app for customers to buy and … Read more
Tesla sales in Germany dropped in May for the fifth month in a row, as demand for the electric vehicle maker continued to slide across much of Europe, despite Elon Musk’s efforts to turn his focus away from his U.S. government activities and back to his companies. Registrations of new Tesla cars in Germany, Europe’s … Read more
Britain breathed a sigh of relief on Wednesday after it was granted a carve-out from President Trump’s 50 percent tariffs on steel and aluminum imported to the United States, while the rest of Europe fumed that it was now paying twice as much. The exemption for British exports was granted because the country had already … Read more
Andrew here. Wow. The Musk-Trump relationship detonated in spectacular fashion yesterday. We have the full play-by-play below — but more important, we take a look at the real-life implications of the rift, even if the two eventually reach a truce. While Tesla’s market value dropped over $150 billion yesterday, Musk’s businesses and their investors could … Read more
OpenAI, the maker of ChatGPT, has a plan to overhaul college education — by embedding its artificial intelligence tools in every facet of campus life. If the company’s strategy succeeds, universities would give students A.I. assistants to help guide and tutor them from orientation day through graduation. Professors would provide customized A.I. study bots for … Read more
Meta, which owns Facebook and Instagram, is in advanced talks to invest billions of dollars in Scale AI, a start-up focused on data used by artificial intelligence companies, according to two people with knowledge of the matter. The potential investment is a sign that large tech companies remain interested in start-ups focused on A.I. amid … Read more
To save the most on travel, resist the mainstream. Instead, think in every way — including where to go, how to go and when to go — like a contrarian. I call this frugal secret the off-travel mind-set, a willingness to chart your own course to savings and possibly a better experience. The following are … Read more
Richard Beattie, a mergers lawyer who helped pioneer private equity takeovers — work that was immortalized in the much-lauded book “Barbarians at the Gate” — and who served in Washington and New York City government, died on Friday at his home in Manhattan. He was 86. His daughter Lisa Beattie Frelinghuysen said the cause was … Read more