Facing criticism that it is overly beholden to Elon Musk, Tesla’s board of directors said on Wednesday that it would essentially give him everything he wanted, including the biggest pay package in corporate history. If setbacks in court and the car market have induced any soul searching among Tesla’s board, there was no sign of […]
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A pill taken once a week. A shot administered at home once a month. Even a jab given at a clinic every six months. In the next five to 10 years, these options may be available to prevent or treat H.I.V. Instead of drugs that must be taken daily, scientists are closing in on longer-acting […]
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The Federal Reserve is likely to wait longer than initially expected to cut interest rates given stubborn inflation readings in recent months, the central bank’s top two officials said Tuesday. Policymakers came into 2024 looking for evidence that inflation was continuing to cool rapidly, as it did late last year. Instead, progress on inflation has […]
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The Chinese economy grew strongly in the first three months of the year, new data shows, as China built more factories and exported huge amounts of goods to counter a severe real estate crisis and sluggish spending at home. To stimulate growth, China, the world’s second-largest economy, turned to a familiar tactic: investing heavily in […]
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Tesla plans to lay off more than 10 percent of its work force in an effort to cut costs, Elon Musk, the automaker’s chief executive, told employees on Monday. The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. “As we prepare the company for the next […]
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In western Pennsylvania, halfway through one of those classic hazy March days when the worst of winter has passed, but the bare trees tilting in the wind tell everyone spring is yet to come, Darren Mattern was putting in some extra work. Tucked at a corner table inside a Barnes & Noble cafe in Logan […]
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To gather every last stem and ribbon, Mr. Patrikis is on the phone constantly, negotiating with 15 distributors to get the best deals. “If you don’t know how to buy from the wholesalers, the wholesalers are going to buy you,” he said. Depending on a stem’s length, the size of the bloom and the nation […]
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A $9,000 designer sweater made out of the ultrarare fur of a South American animal called a vicuña is not exactly a typical area of focus for a member of the U.S. Congress. But when Representative Robert Garcia, a first-term California Democrat and the first Peruvian-born person to serve in the House, saw reports that […]
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The oysters and shrimp cocktail emerge by midmorning, nestled neatly on ice. The pastries look as if they were overnighted from Paris, even as the signature breakfast sandwich — a biscuit with fried chicken, pimento cheese and hot honey — showcases Southern cuisine. An Augusta National Golf Club green jacket hangs on the wall, and […]
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The path to a “soft landing” doesn’t seem as smooth as it did four months ago. But the expectations of a year ago have been surpassed. April 13, 2024 The economic news of the past two weeks has been enough to leave even seasoned observers feeling whipsawed. The unemployment rate fell. Inflation rose. The stock […]
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Families with college-bound students may well have shuddered when they heard that the official, full cost of a year at some four-year private schools will soon hit six figures. But outrage over mushrooming college “sticker” prices clouds a reality that some families may not fully understand: Few students pay the full price. That’s because colleges […]
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Housing gloom The higher-for-longer inflation predicament has hit the U.S. housing market like a thunderbolt. Home prices and mortgage rates are climbing again, dashing hopes that financing costs would fall this year and adding another economic question that could hang over the presidential election campaign. More economists are paring their bets that the Fed will […]
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President Biden and his economic team had high hopes about how two years of rapid inflation would play out in the months leading to the November presidential election. Price growth would continue to cool. The Federal Reserve would cut interest rates. Mortgage rates and other borrowing costs would fall. Consumer moods would improve, and so […]
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The unexpected re-acceleration in price growth across the economy is at least a temporary setback for President Biden, who has been banking on cooling inflation to lift his re-election prospects. Mr. Biden and his aides have publicly cheered the retreat of annual inflation rates over the last year, after watching the fastest price growth in […]
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Neither Paris F.C. nor St.-Étienne will have much reason to remember the game fondly. There was, really, precious little to remember at all: no goals, few shots, little drama — a drab, rain-sodden stalemate between the French capital’s third-most successful soccer team and the country’s sleepiest giant. That was on the field. Off it, the […]
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Investors were betting big on Federal Reserve rate cuts at the start of 2024, wagering that central bankers would lower interest rates to around 4 percent by the end of the year. But after months of stubborn inflation and strong economic growth, the outlook is starting to look much less dramatic. Market pricing now suggests […]
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It’s been a strange and maddening couple of years for consumers, with prices of essential goods soaring and then sinking, turning household budgets upside down. Perhaps that’s why, in late February, the internet revolted over Wendy’s plan to test changing its menu prices across the day. If the Breakfast Baconator winds up costing $6.99 at […]
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The Bureau of Labor Statistics shared more information about inflation with Wall Street “super users” than previously disclosed, emails from the agency show. The revelation is likely to prompt further scrutiny of the way the government shares economic data at a time when such information keenly interests investors. An economist at the agency set off […]
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Another month, another burst of better-than-expected job gains. Employers added 303,000 jobs in March on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate fell to 3.8 percent, from 3.9 percent in February. Expectations of a recession among experts, once widespread, are now increasingly rare. It was the 39th straight […]
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It was only a matter of time before a college would have the nerve to quote its cost of attendance at nearly $100,000 a year. This spring, we’re catching our first glimpse of it. One letter to a newly admitted Vanderbilt University engineering student showed an all-in price — room, board, personal expenses, a high-octane […]
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Gov. Kathy Hochul on Thursday said that she had ordered the Metropolitan Transportation Authority to drop its effort to charge the New York City Marathon roughly $750,000 for its use of the Verrazzano-Narrows Bridge. “The marathon is an iconic symbol of New York City’s tenacity and resilience that unites communities across the five boroughs each […]
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The solar eclipse that will cast a visible shadow across the United States on Monday is already leaving an obvious mark on hotel prices. The Super 8 hotel chain is considered an inexpensive option for travelers, and it has over 1,400 American locations. About 300 of those are within the path of totality, and 100 […]
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In the hours before delivering his State of the Union speech last month, President Biden called the chief executives of General Motors and Cisco Systems to ask their advice on the state of the American economy and share how he planned to talk about it. Then he rode to Capitol Hill and, in his address, […]
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At the start of every New York City Marathon, runners fill the upper and lower tiers of the Verrazzano-Narrows Bridge, an arresting sight that conveys the immensity of the event. But that picture-postcard moment comes with a hidden price — and now the Metropolitan Transportation Authority wants to collect it. The M.T.A. has quietly demanded […]
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Tesla, which has been accustomed to brisk growth, reported a drop in car sales during the first three months of the year as models from other automakers appeared to gain ground. The company led by Elon Musk said it delivered 387,000 cars worldwide in the first quarter, down 8.5 percent from 423,000 vehicles in the […]
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I, too, know that flash of resentment when grocery store prices feel like they don’t make sense. I hate the fact that a small treat now feels less like an earned indulgence and more like financial folly. And I’m concerned about my kids now that house prices look like telephone numbers. But I breathe through […]
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