Author: Press Room

The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income.It’s a mash-up that many investors, economists and even some G.O.P. lawmakers expect to be a failure.“I always think that with gambling, at least you have a chance of winning. This is worse than that,” Douglas Holtz-Eakin, a conservative economist who worked for former President George W. Bush, said. “This is betting with the mafia. You’re going to lose.”President…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldDonald Trump’s bid to upend the international trading order with huge tariffs has wiped $5.4tn from US stocks in two days, as China hit back with its own levies, deepening fears of recession in the global economy. The S&P 500 index tumbled 6 per cent on Friday, following a 4.8 per cent drop the previous day, shedding $5.38tn in market value, in the wake of the US president’s “liberation day” announcement on Wednesday, according to Financial Times calculations based on…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Activist hedge fund Elliott Management is increasing the pressure on oil refiner Phillips 66, kick-starting a proxy battle calling for “sweeping changes” at the US energy conglomerate.In a letter to investors first seen by the Financial Times, Elliott is asking Phillip 66 investors to back its plan for the Houston-based refiner to divest assets, including its midstream arm, improve performance at its refining business and overhaul corporate governance. In a proxy filing, submitted to regulators on Thursday, Elliott is nominating four directors…

President Donald Trump is doubling down on his controversial tariffs program and has called on Americans to “hang tough” amid stock market turmoil over the last few days. Trump, in a post on Truth Social Saturday morning, wrote that his plan is already working with trillions of dollars already being poured into the U.S. economy.”We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN,” Trump wrote.  President Donald Trump is doubling down on his controversial tariffs program and has called on…

Bull riding brings a fresh sport to NYC: Matt West Professional Bull Riders announcer Matt West and 2016 PBR World Champion Cooper Davis discuss the PBR returning to Madison Square Garden while ‘Fox & Friends Weekend’ co-hosts step onto a mechanical bull. A 24-year-old bull rider died Thursday after he was thrown off a bull in the second round of an event in Wharton County, Texas. “The PRCA would like to send its thoughts and prayers to bull rider Dylan Grant’s family, friends and the entire rodeo/bull riding community after Grant passed away after suffering injuries Thursday night during the Wharton County Youth Fair…

Retrospectives at the National Gallery of Australia give Ethel Carrick and Anne Dangar the attention they deserve, but time is running out to see them.

Britain’s governing Labour Party on Saturday said it had suspended Dan Norris, one of its lawmakers in Parliament, after he was arrested by the police.Mr. Morris “was immediately suspended by the Labour Party upon being informed of his arrest,” the party said in a statement, adding that it “cannot comment further while the police investigation is ongoing.”The party did not specify why Mr. Norris, 65, had been arrested, and he did not immediately respond to a request for comment on Saturday. In Britain, the police typically do not disclose the name of suspects unless they are charged. The BBC said…

Check out the companies making headlines before the bell: Big banks — Bank stocks took a hit over increasing fears of a U.S. economic pullback amid an escalating global trade war. Goldman Sachs and Morgan Stanley each lost 6%, while JPMorgan Chase , Citigroup and Wells Fargo shed 5%. China-based ETFs — China-based exchange-traded funds slid after the nation’s finance ministry announced on Friday that it will impose a 34% tariff on all U.S. goods starting April 10. This comes on the back of President Donald Trump’s decision to impose an additional 34% duty on China, bringing the country’s effective…

“Always I have to be careful for the respect for the players that have played incredible roles, but there’s no doubt he’s one of the greatest for sure,” said Pep Guardiola of Kevin De Bruyne’s impending exit from Manchester City.De Bruyne’s impact at City since joining from Wolfsburg in 2015 has been huge, with the Belgian scoring 106 goals in 413 appearances, contributing to 187 Premier League goals (scoring or assisting), equalling the assist record for a single season and winning 19 trophies.While Guardiola was careful about discussing where he stands in the greatest player debate, the City coach praised…

Opponents of President Donald Trump and billionaire Elon Musk rallied across the U.S. on Saturday to protest the administration’s actions on government downsizing, the economy, human rights and other issues.More than 1,200 “Hands Off!” demonstrations were planned by more than 150 groups, including civil rights organizations, labor unions, LBGTQ+ advocates, veterans and elections activists. The protests were taking place at the National Mall in Washington, D.C., state capitols and other locations in all 50 states.What is the “Hands Off” movement?Protesters are assailing the Trump administration’s moves to fire thousands of federal workers, close Social Security Administration field offices, effectively shutter entire agencies,…