Business

New Freighters Could Ease Red Sea Cargo Disruptions
Business

New Freighters Could Ease Red Sea Cargo Disruptions

After the Houthi militia started attacking container ships in the Red Sea last year, the cost of shipping goods from Asia soared by over 300 percent, prompting fears that supply chain disruptions might once again roil the global economy.The Houthis, who are backed by Iran and control northern Yemen, continue to threaten ships, forcing many to take a much longer route around Africa’s southern tip. But there are signs that the world will probably avoid a drawn-out shipping crisis.One reason for the optimism is that a huge number of container ships, ordered two to three years ago, are entering service. Those extra vessels are expected to help shipping companies maintain regular service as their ships travel longer distances. The companies ordered the ships when the extraordinary surge in worl...
Will Food Prices Stop Rising Quickly? Many Companies Say Yes.
Business

Will Food Prices Stop Rising Quickly? Many Companies Say Yes.

Few prices are as visible to Americans as the ones they encounter at the grocery store or drive-through window, which is why two years of rapid food inflation have been a major drag for U.S. households and the Biden administration.Shoppers have only slowly regained confidence in the state of the economy as they pay more to fill up their carts, and President Biden has made a habit of shaming food companies — even filming a Super Bowl Sunday video criticizing snack producers for their “rip off” prices.But now, the trend in grocery and restaurant inflation appears to be on the cusp of changing.After months of rapid increase, the cost of food at home climbed at a notably slower clip in January. And from packaged food providers to restaurant chains, companies across the food business are report...
Nature Has Value. Could We Literally Invest in It?
Business

Nature Has Value. Could We Literally Invest in It?

Picture this: You own a few hundred acres near a growing town that your family has been farming for generations. Turning a profit has gotten harder, and none of your children want to take it over. You don’t want to sell the land; you love the open space, the flora and fauna it hosts. But offers from developers who would turn it into subdivisions or strip malls seem increasingly tempting.One day, a land broker mentions an idea. How about granting a long-term lease to a company that values your property for the same reasons you do: long walks through tall grass, the calls of migrating birds, the way it keeps the air and water clean.It sounds like a scam. Or charity. In fact, it’s an approach backed by hardheaded investors who think nature has an intrinsic value that can provide them with a r...
The Antitrust Enforcers Aimed at Big Tech. Then Came the Backlash.
Business

The Antitrust Enforcers Aimed at Big Tech. Then Came the Backlash.

The South Korean government unleashed a wave of panic across the internet industry: The country’s antitrust regulator said it would enact the toughest competition law outside Europe, curbing the influence of major technology companies.The Korea Fair Trade Commission, with the backing of President Yoon Suk Yeol, said in December that it planned to make a proposal modeled after the 2022 Digital Markets Act, the European Union’s landmark law to rein in American tech giants. This bill also seemed to target South Korea’s own internet conglomerates just as much as the Alphabets, Apples and Metas of the world.The commission said the law would designate certain companies as dominant platforms and limit their ability to use strongholds in one online business to expand into new areas.Then last week,...
Three Lessons From a Surprisingly Resilient Job Market
Business

Three Lessons From a Surprisingly Resilient Job Market

The pandemic created an economic crisis unlike any recession on record. So perhaps it shouldn’t be surprising that the aftermath, too, has played out in a way that almost no economists expected.When unemployment soared in the first weeks of the pandemic, many feared a repeat of the long, slow rebound from the Great Recession: years of joblessness that left many workers permanently scarred. Instead, the recovery in the labor market has been, by many measures, the strongest on record.In early 2021, some economists foresaw a surge in inflation. Others were skeptical: Similar predictions in recent years — in some cases from the same forecasters — had failed to come true. This time, however, they were right.And when the Federal Reserve began trying to tamp down inflation, there were warnings th...
Stock Markets Sink After Hotter-Than-Expected Inflation Report
Business

Stock Markets Sink After Hotter-Than-Expected Inflation Report

Stock markets tumbled on Tuesday as investors slashed their bets on the Federal Reserve taking the brakes off the economy in the coming months, after hotter-than-expected inflation data led traders to expect interest rates will remain higher for longer.The benchmark S&P 500 stock index fell 1.8 percent, putting it on course for its worst one day drop since the banking crisis in March last year. The index has suffered only one other loss greater than 1 percent this year, with bullishness about the resilience of the economy and corporate profits continually pushing stocks to new highs.Investors still expect the Fed to pull inflation back to manageable levels without inflicting too much pain on the broader economy. But that forecast was put under pressure on Tuesday by a consumer inflatio...
Pro Sports in Las Vegas Aren’t Cheered by Everyone
Business

Pro Sports in Las Vegas Aren’t Cheered by Everyone

The history of Las Vegas has been marked by a relentless churn of hotels, casinos, theaters and restaurants. But only recently has the city’s landscape included major professional sports teams.The Golden Knights of the National Hockey League were the first to start play here in 2017. The Aces of the Women’s National Basketball Association started in 2018, and the National Football League’s Raiders arrived from Oakland in 2020. Last year, Major League Baseball’s Athletics were given the go-ahead to make the same Oakland-to-Las Vegas move, and the National Basketball Association is expected to add a team in the coming years.Las Vegas’s transformation into a pro sports town reflects not just the leagues’ interest in the city and their general embrace of sports betting, but also the power of t...
For Gen Z, an Age-Old Question: Who Pays for Dates?
Business

For Gen Z, an Age-Old Question: Who Pays for Dates?

During a recent dinner at a cozy bar in Upper Manhattan, I was confronted with an age-old question about gender norms. Over bowls of ramen and sips of gin cocktails, my date and I got into a debate: Who should pay for dates?My date, a 27-year-old woman I matched with on Hinge, said gender equality didn’t mean men and women should pay the same when they went out. Women, she said, earn less than men in the workplace, spend more time getting ready for outings and pay more for reproductive care.When the date ended, we split the bill. But our discussion was emblematic of a tension in modern dating. At work and on social media, where young people spend much of their personal time, they like to emphasize equity and equality. When it comes to romance and courtship, young people — specifically wome...
American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find
Business

American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find

A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat.Funds supplied by the five firms — GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International — went to more than 150 Chinese companies, according to the report, which was released Thursday by both Republicans and Democrats on the House Select Committee on the Chinese Communist Party.The investments included roughly $180 million that went to Chinese firms that the committee said directly or indirectly support Beijing’s military. That includes companies that the U.S. government has said provide chip...
Disney, Fox and Warner Bros. Join Forces for Sports Streaming Service
Business

Disney, Fox and Warner Bros. Join Forces for Sports Streaming Service

For years, the rising price of sports rights has been a major headache for media executives, who have watched viewers abandon traditional TV for streaming services even as their companies pay up to broadcast games.On Tuesday, Disney, Fox and Warner Bros. Discovery proposed a new offering that could keep them in business with some of those customers. The companies announced a streaming service that will feature games from the major professional leagues and college conferences, which they hope will attract sports fans who have abandoned cable.The service will offer streaming subscribers all the games available to viewers of traditional channels like ESPN, TNT and FS1. The price, name and executive team behind the service have not yet been determined. It is scheduled to launch in the fall.The...