Saturday, August 16, 2025

Today's Paper

Business

MAHA Draft Report Brings Relief to Some, Chagrin to Others

A draft of an upcoming White House report on children’s health was not as harsh toward the agriculture industry as some of Robert F. Kennedy Jr.’s allies had hoped.

By Dani Blum, Benjamin Mueller and Alice Callahan

image: A sign warned of pesticide use on a strawberry farm in Oxnard, Calif. A draft report outlining proposals to improve children’s health did not include strong restrictions on pesticides.

Frank Savage, 87, Business Leader Entangled in Enron Scandal, Is Dead

He was one of the relatively few Black Americans to reach the upper echelons of global finance. He was also a competitive sailor.

By Jeré Longman

image: Frank Savage in the early 1990s while he was an executive with Equitable Capital Management Corporation.

Priscilla Presley Locked in Feud With Former Business Partners

Elvis’s ex-wife has traded lawsuits in a financial dispute with former advisers that has grown ugly with an allegation that she prematurely “pulled the plug” on her late daughter, Lisa Marie.

By Matt Stevens

image: Priscilla Presley, 80, is engaged in a financial dispute with former business advisers that has escalated in the past week.

Air Canada’s Flight Attendants Begin Strike, Crippling the Airline

Ahead of the work stoppage, the airline said it had canceled most of the 700 flights that it directly operates, which carry about 130,000 people each day.

By Ian Austen

image: Passengers waiting at an Air Canada check-in counter at Toronto Pearson International Airport in Canada on Friday.

Fed Chair Faces Scrutiny at Major Policy Speech. Also, Bats.

A colony of bats recently took up residence at the storied Jackson Lake Lodge, where central bankers and economic policymakers will convene next week for an exclusive gathering.

By Colby Smith

image: Jerome H. Powell, the Federal Reserve chair, will provide his economic outlook at the Jackson Lake Lodge in Grand Teton National Park in Jackson, Wyo., next Friday.

What Business Will Be Watching For in the Trump-Putin Talks

Normalized economic ties between Russia and the West may be a long way off, but there’s global interest in what’s said about sanctions and tariffs.

By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced and Danielle Kaye

image: War, the future of NATO and potential economic cooperation are high on the agenda at today’s summit in Alaska.

Stocks Keep Climbing Past Bad News

Strong corporate earnings, mostly stable tariff rates and the expectation of interest rate cuts have eased worries of a market reckoning.

By Joe Rennison

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Why Hands-Off Investing Pays Off

Put money into low-cost stock and bond funds, but don’t forget the rest of the recipe: Leave your investments alone.

By Jeff Sommer

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SpaceX Gets Billions From the Government. It Gives Little to Nothing Back in Taxes.

Elon Musk’s rocket company relies on federal contracts, but years of losses have most likely let it avoid paying federal income taxes, according to internal company documents.

By Susanne Craig and Kirsten Grind

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China’s Economy Slows Broadly Even as Exports Keep Rising

Officials blamed U.S. “protectionism” for the dismal July data, but growth was likely held back by real estate and new policies aimed at slowing factory investments.

By Keith Bradsher

image: A residential construction site in Hangzhou, in China’s eastern Zhejiang Province in July.

Phil Knight, Ex-Nike Chief, and His Wife Pledge $2 Billion to Oregon Cancer Center

Oregon Health & Science University said the couple’s donation would be the largest single gift to a higher-learning institution in the United States.

By Neil Vigdor

image: Phil Knight and his wife, Penny Knight, at an Oregon basketball game in 2023.

PBS Slashes Budget by 21% After Federal Funding Cuts

The nonprofit will receive less revenue from its members, which are under pressure to make up for shortfalls of their own.

By Benjamin Mullin

image: A control room at Arizona PBS in Phoenix. PBS’s board approved a 21 percent budget cut and reduced dues paid by local stations by $35 million.

Gregory C. O’Connell, Developer Who Revived Red Hook, Dies at 83

A former N.Y.P.D. detective, he rejuvenated properties on the Brooklyn waterfront and restored a historic village in upstate New York.

By Sam Roberts

image: Gregory O’Connell in 2010 in Mount Morris, N.Y., a neglected historic village in the Finger Lakes region of New York that he helped restore after reviving much of the Red Hook section of Brooklyn.

Whiskey Maker Honoring an Enslaved Distiller Is in a Fiscal Bind

A federal judge has ordered that Uncle Nearest be placed in receivership, after a lender claimed the company’s finances are in disarray.

By Clay Risen

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Tariffs Set to Hit Ireland, Where U.S. Drugmakers Play Tax Games

Manufacturing in Ireland has long helped many American drug companies pay lower taxes. But that strategy was designed for a world without President Trump’s tariffs.

By Rebecca Robbins

image: A Johnson & Johnson plant in County Cork, Ireland. The pharma giant is one of many that manufactures brand-name drugs in Ireland.

The Auctioneer and the Treasury Chief: Billy Long’s Quick Fall at the I.R.S.

Treasury Secretary Scott Bessent sought total control over the I.R.S., an agency where Mr. Long, the new commissioner, had started to put his own mark on the job.

By Andrew Duehren and Maggie Haberman

image: Within days of being sworn in as the I.R.S. commissioner, Billy Long began to lose his grip on the role.

Taylor Swift Found a New Way to Control Her Narrative: Podcasts

For stars promoting their projects, podcasts have become an appealing alternative to late-night TV and glossy magazines.

By Jessica Testa

image: Two months after they attended this Stanley Cup finals hockey game, Taylor Swift joined her boyfriend, Travis Kelce, on his “New Heights” podcast to announce a new album.

Why Trump’s Pay-for-Play Chips Deal May Not Be the Last

The Trump administration’s unorthodox Chinese export pact with Nvidia and Advanced Micro Devices is worrying trade experts.

By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced and Danielle Kaye

image: The Trump administration’s chips deal, struck recently with Jensen Huang of Nvidia, could serve as a model for other industries.

Fed Faces High Bar for Big Cuts Despite White House Pressure

The Federal Reserve is poised to lower interest rates in September. But signs of stickier inflation could limit how much relief officials can ultimately provide to borrowers.

By Colby Smith

image: A lounge at Kennedy International Airport last month. Airfares jumped 0.4 percent in July.

The Live Music Business Is Booming. Now Rap Is Getting a Piece, Too.

Artists like Kendrick Lamar and Tyler, the Creator are pulling in huge audiences on the road, and YoungBoy Never Broke Again is preparing for his first-ever tour.

By Ross Scarano

image: Kendrick Lamar’s joint tour with SZA is the highest-grossing co-headline tour in history, according to Billboard Boxscore.

There’s Money to Be Made From ‘MAHA.’ Food Companies Want In.

Processed-food giants and produce growers are tweaking products and ads to reach the Make America Healthy Again movement. But the strategy carries risks.

By Kim Severson

image: Lisa Curtis, the founder of a line of “superfood” products, helped Walmart design a “Better for You” section in the baking aisles at 3,000 stores.

Disabled Amtrak Riders See Progress, but Still ‘Feel Like Freight’

Passengers are facing blocked wheelchair space, getting stuck in doors and suffering other indignities 35 years after the Americans With Disabilities Act became law.

By Gabe Castro-Root

image: Aubrie Lee, right, who has muscular dystrophy and uses a power wheelchair, and Peter Saathoff-Harshfield, who has low vision, have traveled across the United States on Amtrak five times in the last three years.

Big Tech’s A.I. Data Centers Are Driving Up Electricity Bills for Everyone

Electricity rates for individuals and small businesses could rise sharply as Amazon, Google, Microsoft and other technology companies build data centers and expand into the energy business.

By Ivan Penn and Karen Weise

image: A transmission line running near data centers in Ashburn, Va. As the electricity demands of the structures rapidly escalate, tech companies are becoming some of the most dominant players in energy.

You Can Buy One of the C.I.A.’s Greatest Mysteries at an Auction House

Sleuths have solved three of the panels of the Kryptos sculpture at the agency’s headquarters. Now the artwork’s creator is announcing the sale of the solution to the fourth.

By John Schwartz and Jonathan Corum

image: The Kryptos sculpture has sat in a courtyard at C.I.A. headquarters in an area not open to the public for 35 years.

As Trump Pushes International Students Away, Asian Schools Scoop Them Up

The president’s hostility toward foreign students has made American higher education a riskier proposition for them. Other countries are eager to capitalize.

By Lydia DePillis and Jin Yu Young

image: The Trump administration’s policies are scaring off foreign students, who are being courted by more Asian universities like Yonsei University, above, in Seoul.