Income and spending rose less than prices in May.
The group, known as OPEC Plus, is at what could be an important crossroads. It has largely completed — at least on paper — its program to reverse the deep…
Consumer spending was weaker than reported, a bad sign for the economy.
“Since the pandemic, we’ve been living in a world where the economy is being driven by very different forces,” Jerome H. Powell said on Wednesday.Haiyun Jiang/The New York TimesJerome H.…
‘Uncomfortably high’: What economists say about the chance of recession.
But the range of their forecasts is wide, from a relatively remote chance of a recession — commonly defined as a shrinking of the economy for two consecutive quarters —…
How Are Companies Responding to the Supreme Court Decision on Abortion?
Even as more companies have become outspoken on social causes, the reaction by corporate America on Friday after the Supreme Court overturned Roe v. Wade was relatively muted.In response to…
What is a recession, and when is the next one going to begin?
Chaotic stock markets, sky-high interest rates and the pain of inflation have left one question at the top of Americans’ minds: Are we in a recession?Probably not yet, but there…
Fed officials pledge ‘unconditional’ dedication to lowering inflation.
An underground natural gas storage facility in Rehden, Germany.David Hecker/Getty ImagesGermany warned residents and businesses on Thursday that the country is in a natural gas crisis that could worsen in…
Powell says the Fed is ‘not trying to provoke’ a recession, but it is ‘certainly a possibility.’
Jerome H. Powell, the Federal Reserve chair, appeared before the Senate Banking Committee on Wednesday.Haiyun Jiang/The New York TimesJerome H. Powell, the chair of the Federal Reserve, said that the…
Stocks rebound after a rough week.
The Yang Mei Hu oil products tanker moored at a crude oil terminal in Nakhodka, Russia, this month.Tatiana Meel/ReutersA surge in demand from Asia for discounted Russian oil is making…
Wall Street shudders as focus returns to recession risks.
Robert Habeck, the German economy minister, said Germany still had access to natural gas after Gazprom’s restrictions, but it would be more costly. Tobias Schwarz/Agence France-Presse — Getty ImagesOfficials in…
S&P 500 Falls Into Bear Market Territory: Live Updates
U.S. stocks fell into bear market territory on Monday, a 20 percent decline from their peak in January, a sign of growing pessimism about the outlook for the economy. Markets…
Prices Rise Rapidly in May: Live Updates
Travel isn’t getting any cheaper.Strong demand after two years of pandemic lockdowns and other factors drove up already high airfare and hotel prices last month, with both reaching record highs.Flight…
European Central Bank says it will raise interest rates for the first time in 11 years in July.
Christine Lagarde, president of the European Central Bank, during a news conference in Amsterdam on Thursday.Peter Dejong/Associated PressThe European Central Bank entered into a new era on Thursday, as policymakers…
Much higher inflation and weaker global growth predicted in latest forecast.
In a sign that service industry workers continue to have a strong interest in unionizing after successful votes at Starbucks, REI and Amazon, employees at a Trader Joe’s in western…
Target will take a profit hit to clear out inventory that shoppers don’t want.
WASHINGTON — At her confirmation hearing in early 2021, Treasury Secretary Janet L. Yellen told lawmakers that it was time to “act big” on a pandemic relief package, playing down…
Biden to Pause New Solar Tariffs as White House Aims to Encourage Adoption
WASHINGTON — The Biden administration on Monday announced a two-year pause on imposing any new tariffs on the solar industry, following an outcry from importers who have complained the levies…
U.S. Job Growth Remains Strong in May: Live Updates
+600,000 jobs +390,000 in May Feb. ’22 +600,000 jobs +390,000 in May Feb. ’22 Job gains maintained their impressive run in May, even as government policymakers took steps to cool…
OPEC Plus agrees to a bigger increase in oil supply. But prices keep rising.
The group of oil-producing nations known as OPEC Plus agreed on Thursday to a larger increase in supply than planned for July and August.The higher output was hailed by the…
Job openings declined slightly in April from a high point.
Looking for help in Brooklyn in January.Gabby Jones for The New York TimesThe labor market may be cooling off, but not by much, according to new data on job openings…
Biden and Fed chair Powell are set to meet as inflation dogs the global economy.
Stores in Ronda, a town in southern Spain. Annual inflation in the country has reached 8.5 percent.Jon Nazca/ReutersInflation in the euro area in May hit its highest annual level since…
Inflation moderated in April but was still close to its highest level in 40 years.
Daniel Defense, the company that made the rifle a gunman used to kill 21 people inside a Texas elementary school this week, was one of hundreds of gun makers and…
Britain announces tax on oil and gas profits to fund cost-of-living payments.
Broadcom’s takeover of VMware would reshuffle the market for business computing.Mike Blake/ReutersBroadcom, the semiconductor giant, said on Thursday that it had agreed to buy the software company VMware in a…
Germany plans to keep coal-fired plants ready in case Russian gas is cut.
Treasury Secretary Janet L. Yellen said that Russia’s ability to borrow had already essentially been cut off.Sarahbeth Maney/The New York TimesWASHINGTON — The Biden administration will start blocking Russia from…
Tony Blair on Russia’s War in Ukraine: A Virtual Event
The former British prime minister will speak with Peter Baker of The New York Times on May 2. Live Event A Live Conversation with Tony Blair Monday, May 2 12…
DealBook Online Summit
DealBook NewsletterChina, inflation, electric vehicles, deplatforming and other hot topics dominated the DealBook Online Summit this year.By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Stephen Gandel, Michael J. de la Merced, Lauren Hirsch and
Judge Reduces $137 Million Penalty Against Tesla in Racism Case
A federal judge has significantly reduced a $137 million damages award against Tesla in a lawsuit by a worker who said he had encountered racism on the job in the…