Saratoga Springs to host Belmont Stakes amid horse racing changes
In 1863, John (Old Smoke) Morrissey, seeing promise in an upstate town with natural springs and access to the rich and reckless from New York to Boston, held the first race at Saratoga Springs. Morrissey’s resume foreshadowed his vision: Old…
The NCAA agreed to pay the players. You won’t call them employees.
The immediate takeaway from the historic $2.8 billion deal the NCAA and major sports conferences agreed to Thursday was that it goes right to the heart of the organization’s cherished model of amateurism: Schools can now pay their athletes directly….
Tesla shareholders will vote on Elon Musk’s big payday. What happens then?
After months of fighting over a pay package promised to Elon Musk six years ago (one that included stock grants worth around $56 billion today), things are finally coming to a head. At Tesla’s annual meeting on Thursday, shareholders will…
Wage growth exceeds forecasts, which could deter Fed rate cuts
As Federal Reserve officials weigh whether and when to cut interest rates this year, they expect to see evidence that the labor market is gradually cooling but with unemployment remaining low. Friday’s jobs report contained bad news on all fronts….
Canadian auto parts billionaire faces sexual assault charges
Frank Stronach, the 91-year-old billionaire founder of one of the world’s largest auto parts companies, was arrested and charged Friday in connection with a sexual assault investigation. In a brief news release, the Peel Region police force, outside Toronto, said…
What to do about the mixed signals from the jobs report
At times, the numerous numbers included in the government’s monthly employment report combine to paint a clear, coherent picture of the strength or weakness of the U.S. labor market. This is not one of those times. Instead, data released by…
How Media Left and Right Covered Biden’s Immigration Order
President Biden’s immigration policies are a frequent target of conservative and liberal media outlets, often reflecting criticism from Republican and Democratic elected officials. His reaction to his executive order Tuesday, limiting asylum at the U.S.-Mexico border, was no different. Conservative…
What to know about the latest employment report.
The U.S. labor market delivered solid job growth in May, the Labor Department reported Friday, even as the unemployment rate rose. The unexpectedly strong hiring shows that employers remain undaunted, despite the pressure of high interest rates and slowing consumer…
India’s Modi, humiliated by voters, faces potent economic struggles
Before the Indian election results came in this week, Prime Minister Narendra Modi was widely seen as a charismatic and popular strongman, celebrated by the business world for raising his profile even as he failed to solve a vexing problem:…
US adds tariffs to protect struggling solar industry
Tariffs intended to protect the U.S. solar industry from foreign competition were back in effect Thursday, ending a two-year pause that President Biden approved as part of his effort to boost the adoption of solar energy in the United States….
When a bank rescinds a job offer because it canceled your credit card
Last year, my colleague Tara Siegel Bernard and I wrote a series of articles about banks closing the checking accounts of dozens of ordinary citizens and small businesses. Often there was no clear reason, explanation or recourse. JPMorgan Chase seemed…
Europe has fallen behind the United States and China. Can he catch up?
Europe’s share of the global economy is shrinking and fears are deepening that the continent can no longer keep pace with the United States and China. “We are too small,” said Enrico Letta, a former Italian prime minister who recently…