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Economy

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…

Car deals disappeared during the pandemic. They are coming back.

For much of the past four years, automakers and their dealers had so few cars to sell (and demand was so strong) that they could demand high prices. Those days are gone and deep discounts are starting to return. During…

Gizmodo is sold to Keleops Media

Technology website Gizmodo has been sold to a European media company, the latest brand from publisher G/O Media to hit the market. The buyer is Keleops Media, Jim Spanfeller, CEO of G/O Media, told staff in an email Tuesday. Spanfeller…

Feeling Consumers’ Pain, Retailers Bring Back Discounts

American consumers, fatigued by a three-year streak of inflation, want lower prices. And big retailers that have raised prices, in part to address their own rising costs, appear to be responding to customer concerns, to some extent. Walgreens said last…

Larry Bensky, a left-wing radio personality, has died at 87

Larry Bensky, a radio journalist whose reporting on major political events made him the distinctive voice of Pacifica Radio, a network of listener-supported progressive stations, died May 19 at his home in Berkeley, California. He was 87 years old. His…