Tuesday, January 20, 2026

Today's Paper

Business

Bessent Attended a Supreme Court Argument. Now He’s Telling Powell Not to.

Treasury Secretary Scott Bessent said it was a mistake for Jerome Powell to attend arguments in a case on Fed independence. But Mr. Bessent attended a tariff case.

By Alan Rappeport

image: “If you’re trying not to politicize the Fed, for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake,” Treasury Secretary Scott Bessent said.

A.I., Big Tech and Trump Shine Most Brightly at the Davos Spectacle

The World Economic Forum is now dominated by global technology companies whose interests shunt aside most others.

By Peter S. Goodman

image: The World Economic Forum in Davos on Tuesday.

Stocks and Bonds Fall on Trump’s Greenland Threats

The S&P 500 dropped over 1 percent Tuesday morning, its lowest decline at the start of the trading day since April, when President Trump first announced his sweeping tariffs.

By Joe Rennison

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The Trump Drama Hits Davos

Greenland, tariffs and wobbling markets are the talk of the town at the World Economic Forum ahead of the president’s arrival on Wednesday.

By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly, Brian O’Keefe, Ian Mount and Lauren Hirsch

image: Treasury Secretary Scott Bessent has been explaining President Trump’s agenda to an antsy gathering at the World Economic Forum in Davos, Switzerland.

Netflix Revamps Its Warner Bros. Bid, Seeking to Thwart Paramount

Netflix will pay all cash for the $83 billion deal to acquire major parts of Warner Bros. Discovery, instead of a mix of cash and stock.

By Lauren Hirsch and Benjamin Mullin

image: Netflix’s move puts pressure on Paramount to further revise its own bid after Warner Bros. Discovery rejected its latest offer.

Trump’s First Year Could Have Lasting Economic Consequences

President Trump’s policies have so far done little to change the overall state of the American economy, but economists warn they will ultimately weaken the United States.

By Ben Casselman

image: Economists from across the ideological spectrum warn that President Trump is setting the country on a path that will, in the long run, leave the economy less dynamic in the decades ahead.

Nature’s Super Feather

Filoplumes may be tiny, but these hairlike feathers enable nonstop flights that span thousands of miles.

By Jim Robbins and Bryan Anselm

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At a Seattle Port Rocked by Tariffs, There Were 70 Jobs for 600 Workers

Dock workers are used to uncertainty, but nothing since the Great Recession of 2008 compares to what they have experienced this year.

By Anna Griffin and Ruth Fremson

image: Since August, the monthly drop in traffic has been in the double digits compared to 2024. There was no pre-Christmas rush.

An Alaska Town Is Now Key to Trump’s Global Ambitions

Nome, population 3,700, is accessible only by plane outside a few months when boats can pass through. But it will be the home of the nation’s only deepwater Arctic port.

By Anna Griffin and Ruth Fremson

image: Nome’s existing dock will be turned into the country’s first deepwater Arctic port.

Federal Reserve Inquiry Clouds Trump’s Supreme Court Bid to Oust Lisa Cook

The court is set to hear Ms. Cook’s case challenging her firing as the Justice Department investigates Jerome H. Powell, the central bank chair.

By Ann E. Marimow

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Trump’s Trade Negotiator Says Response to Court Loss Would Be Immediate

If the Supreme Court rules against its tariffs, the Trump administration would begin replacing them immediately, said Jamieson Greer, the United States Trade Representative.

By Ana Swanson

image: Jamieson Greer, the United States Trade Representative, on Air Force One in October.

Trump Said He’d Unleash the Economy in Year 1. Here’s How He Did.

As a candidate, President Trump pledged to boost the stock market, bring back manufacturing jobs and improve other elements of the economy. A year after his return to office, his record is mixed.

By Ben Casselman

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Prominent Architecture Firm Is Accused of Illegally Ousting Employees

A federal labor regulator says the firm, Snohetta, laid off eight employees in retaliation for trying to unionize.

By Noam Scheiber

image: Snohetta designed interior spaces at the Summit One Vanderbilt observation complex in Manhattan.

All Bets Are On: The Rise of Prediction Markets

Billions of dollars are trading hands on sites like Polymarket and Kalshi, where people bet on everything from Taylor Swift’s wedding date to election outcomes.

By David Yaffe-Bellany

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‘Masquerade’ Reimagined ‘Phantom,’ and the Fans Are Flocking

An immersive adaptation of Andrew Lloyd Webber’s musical has seen some people return a dozen times since it began performances last summer.

By Sarah Bahr

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I.M.F. Raises Forecast for Global Growth as Tariff Drag Fades

The 3.3 percent rate for 2026 would match last year’s pace. Booming investment in artificial intelligence is buttressing global output.

By Alan Rappeport

image: An exhibit at a conference held by Nvidia, which makes chips that power artificial intelligence. Surging investment in technology is poised this year to offset the headwinds of rising protectionism.

As Davos Convenes, Deference to Trump Has Replaced Everything

The traditional rhetoric of the World Economic Forum centered on global integration, climate change and international cooperation. Not anymore.

By Peter S. Goodman

image: Attendees at the World Economic Forum in Davos, Switzerland, last year.

One Month Later, CBS Airs Postponed ‘60 Minutes’ Report With Few Changes

A 13-minute segment about Venezuelan men deported by the Trump administration had been pulled at the last minute by CBS News’s editor in chief, Bari Weiss.

By Michael M. Grynbaum

image: The report featured the stories of Venezuelan men deported by the Trump administration to a prison in El Salvador.

China’s Birthrate Plunges to Lowest Level Since 1949

China’s population fell for a fourth straight year and its birthrate tumbled as policymakers failed to slow a demographic crisis.

By Alexandra Stevenson

image: Families at a park in Beijing on skating carts decorated with figures of huskies. Despite sweeping efforts to boost births, China’s population has shrunk for a fourth straight year.

Real Estate Crash Weighs on China’s Economic Growth

Falling apartment prices have erased the savings of millions of Chinese households, but exports lifted the economy to 5 percent growth last year.

By Keith Bradsher

image: China is still grappling with a property market crash that began four years ago, after many years of overbuilding.

Joe Montgomery, Who Made Bicycles Lighter, Dies at 86

A founder of Cannondale, he was among the first in the U.S. to mass-produce bikes frames out of large-diameter aluminum tubes, replacing heavier steel.

By Jeré Longman

image: Joe Montgomery, a founder of Cannondale, with two of the company’s bikes. Referring to its penchant for innovation, one journalist wrote, “Cannondale started out with a kooky streak and they never lost it.”

Top Editor at Axel Springer Is Ousted After Workplace Investigation

Jan Philipp Burgard was one of Axel Springer’s most prominent editors, overseeing its influential German broadsheet Welt.

By Benjamin Mullin

image: Jan Philipp Burgard in Berlin in June. He had said in a social media post that he had decided to resign after experiencing “a serious physical incident” on a flight back from vacation.

Trump’s Campaign Manager Resolves Daily Beast Defamation Suit

As part of the settlement, The Daily Beast was not required to apologize or issue any payment to Chris LaCivita, who sued the outlet last year.

By Katie Robertson

image: Chris LaCivita, a former campaign manager for President Trump, at a session of Congress in March for an address by Mr. Trump.

How to Prevent Aging Parents and Relatives From Making Financial Mistakes

Getting family members to listen to you when you think they are headed down a dangerous financial path can be difficult. But there are preventive steps you can take.

By Paulette Perhach

image: In 2024, Rianka Dorsainvil’s mother came to her with a check that looked legitimate. It turned out to be part of a common check fraud scam.