Author: Press Room

Meltdown The markets have spoken.The S&P 500 is on track for its worst weekly loss since the collapse of the Silicon Valley Bank crisis two years ago. And investors have wiped out post-Election Day gains as President Trump’s dizzying start-stop tariff policy fuels volatility on trading floors and in boardrooms.Another test comes this morning with the jobs report due out at 8:30 a.m. Eastern. It’s expected to show solid growth in hiring even as federal workers brace for mass layoffs. Economic alarm bells are ringing elsewhere. Mohamed El-Erian and Ed Yardeni, two longtime market watchers, see a downturn in the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A week can feel like an eternity when the zone’s being flooded with FOMO. Last Sunday, Donald Trump tweeted:A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT…

When I walk into Lilia, the industrial-style dining room is almost empty except for a few staff milling about — I can hear my boot heels hitting the stone floor. It’s a distinctly weird vibe for a buzzy Italian that has been one of Brooklyn’s hardest to score tables since it opened in 2016.There is no time to ponder. Hedge fund magnate Boaz Weinstein is rising from the only occupied table to greet me. A rumpled-looking 51-year-old clad in a casual navy crewneck sweater over a T-shirt, he seems more like an average dad on the school run (as a…

United States President Donald Trump, on Thursday, paused tariffs on several imports from Mexico and Canada for a month. Earlier, he had imposed 25 percent tariffs on almost all imports from both countries. He first announced a halt on the tariffs for Mexico after a phone call with that country’s president, Claudia Sheinbaum. Later, he extended that reprieve to Canada. Here is what happened, which products the pause applies to and what comes next: What happened? On Thursday, Trump signed orders temporarily exempting goods from Mexico and Canada that are covered by the US-Mexico-Canada trade agreement (USMCA) from the 25…

President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Wages, consumer spending and corporate profits were rising. Unemployment was low. The inflation rate, though higher than normal, was falling.Just weeks into Mr. Trump’s term, the outlook is gloomier. Measures of business and consumer confidence have plunged. The stock market has been on a roller-coaster ride. Layoffs are picking up, according to some data. And forecasters are cutting their estimates for economic growth this year, with some even predicting that the U.S. gross domestic product could shrink in the first quarter.Some commentators have gone further,…

Join Fox News for access to this content Plus special access to select articles and other premium content with your account – free of charge. By entering your email and pushing continue, you are agreeing to Fox News’ Terms of Use and Privacy Policy, which includes our Notice of Financial Incentive. Please enter a valid email address. Having trouble? Click here. EXCLUSIVE: As romance scams are on the rise, a bipartisan group of lawmakers is introducing new legislation aimed at holding accountable those who seek to defraud retirees and steal their hard-earned savings.U.S. Sens. Marsha Blackburn, R-Tenn., and John Hickenlooper, D-Colo., and…

J.P. Cormier, the award-winning musician from Nova Scotia, has made the decision to cut ties with the United States, saying he will no longer be touring the country for as long as President Donald Trump’s tariff threats stay alive. Cormier, who has family south of the border and has been traveling to the U.S. for over 40 years, said his decision comes from what he describes as an “ongoing attack on Canada’s economic well-being.”Cormier emphasized the importance of national solidarity in the face of these challenges.“I’m going to conduct myself at this point in time as a Canadian and nothing…

Check out the companies making headlines in midday trading: Victoria’s Secret — Shares declined 8.2% after the lingerie retailer issued lighter-than-expected guidance for the first quarter. Victoria’s Secret sees revenue coming in between $1.3 billion and $1.33 billion during the period, while analysts polled by LSEG had estimated $1.39 billion. Management cited an uncertain macro backdrop and shifts in consumer confidence. Marvell Technology — Shares of the semiconductor company slid 19.8% after Marvell posted modest beats for the fourth quarter. Marvell reported 60 cents in adjusted earnings per share on $1.82 billion of revenue, while analysts surveyed by LSEG were…

Despite Sydney and Hawthorn putting on a stellar season opener at the SCG, fans have been enraged by a change to a beloved staple of AFL broadcasts: the scoreboard.AFL superstar Bailey Smith led a chorus of high-profile voices slamming Fox Footy for their unsightly and gigantic scoreboards as the season kicked off in the wet on Friday night.The Geelong midfielder posted a picture of his television to his Instagram, and the new graphic was circled in white.He didn’t mince his words either.“Get this s*** off my TV. Why’s it so big?” he wrote.His next post showed he’d switched to the…

Stephen A. Smith will continue to be ESPN’s staple — and make a lot of money while doing so.The longtime reporter and analyst has agreed to a five-year extension worth at least $100 million, according to The Athletic.Smith has been a longtime host of “First Take,” which will continue to be his primary duty with the network, the report said. Stephen A. Smith accepts the Gil Nickel Humanitarian Award onstage during the 27th Annual UCLA Jonsson Cancer Center Foundation’s “Taste for a Cure” Event at the Beverly Wilshire in Beverly Hills, California, on May 10, 2024. (Tommaso Boddi/Getty Images for…