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Economy

Sam Bankman-Fried Set to Testify at His Fraud Trial

Evan Harrington

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, is planning to testify at his criminal fraud trial in Manhattan, his lawyer said on Wednesday.The lawyer, Mark Cohen, confirmed…

Economy

New Normal or No Normal? How Economists Got It Wrong for 3 Years.

Evan Harrington

Economists spent 2021 expecting inflation to prove “transitory.” They spent much of 2022 underestimating its staying power. And they spent early 2023 predicting that the Federal Reserve’s rate increases, meant…

Economy

After Outcry, Writers Guild Tries to Explain Silence on Hamas Attack

Evan Harrington

Facing mounting pressure from more than 300 Hollywood screenwriters questioning why it had not publicly condemned the Hamas attack on Israel this month, the Writers Guild of America West sent…

Economy

U.A.W. Expands Strike to G.M.’s Texas Plant

Evan Harrington

Before the U.A.W. expanded the strike, G.M. said Tuesday that U.A.W. work stoppages had lowered its earnings before interest and taxes by about $200 million in the final weeks of…

Economy

Columbia Sportswear Is Scouting Factories in Central America

Evan Harrington

Stan Burton wandered the Guatemalan factory like a prospector probing for buried treasure.His company, Columbia Sportswear, had long relied on plants in Asia to make its clothing, but that appeared…

Economy

A Push for Tech Hubs in Overlooked Places Picks 31 to Vie for Money

Evan Harrington

The Biden administration said on Monday that it had chosen 31 regions as potential recipients of federal money that would seek to fund innovation in parts of the country that…