Investments and Business

Summer at the spa - a ritual that has lasted nearly 200 years - began early in Saratoga Springs, New York, with the third leg of the Triple Crown, the Belmont Stakes, held Saturday for the first time at Saratoga Race Course, a relic revered where elites and others mingle, but horses dominate. Broadway, the city's central thoroughfare, was abuzz with activity. Lines for picnic tables along the trail formed before dawn. A new color, Belmont Green, blends with the track's signature red and white coating. Owners, trainers, runners and loyalists all hailed the break with tradition for the 156th…

Tesla could use shareholder approval to support Musk's case in court. If it wins the vote on Musk's compensation, the company is likely to turn to Chancellor Kathaleen McCormick, the Delaware Court of Chancery judge who rejected the compensation plan, and argue that shareholders, armed with information she says not having had it when they approved the package, they ratified the proposal again. This, according to the company, makes the issue controversial. If McCormick were to declare the plan acceptable, it is likely that the plaintiffs who initially sued will appeal to the Delaware Supreme Court. Among their potential arguments:…

Nearly two years after OpenAI ignited a race to add generative artificial intelligence into products, Apple jumped into the competition on Monday, with plans to bring the technology to more than a billion iPhone users around the world.Early into a two-hour presentation from its futuristic Silicon Valley campus, Apple revealed that it would be using generative A.I. to power what it is calling Apple Intelligence. The system will prioritize messages and notifications and offer writing tools that are capable of proofreading and suggesting what users have written in emails, notes or text. It also will result in a major upgrade…

The U.S. economy keeps throwing curveballs, and the May employment report is the latest example.Employers added 272,000 jobs last month, the Labor Department reported on Friday, well above what economists had expected as hiring had gradually slowed. That’s an increase from the 232,000-job average over the previous 12 months, scrambling the picture of an economy that’s relaxing into a more sustainable pace.Most concerning for the Federal Reserve, which meets next week and again in July, wages rose 4.1 percent from a year ago — a sign that inflation might not yet be vanquished.“For those who may have thought they would…

Sacks gave his case for backing Trump. Top of the list: the economy. The U.S. is performing far better than its peers, but he blames President Biden for sticky inflation, weak growth and rising debt (though Trump too added trillions to the national debt).But Biden has huge support in Silicon Valley. The president has raised millions from tech industry leaders this election cycle. Last month, he attended a fund-raising event hosted by Vinod Khosla, the venture capital investor, and Marissa Mayer, the former Yahoo C.E.O., and Silicon Valley includes some of his biggest business allies.Hoffman broke down why no C.E.O.…

Europe’s share of the global economy is shrinking, and fears are deepening that the continent can no longer keep up with the United States and China.“We are too small,” said Enrico Letta, a former Italian prime minister who recently delivered a report on the future of the single market to the European Union.“We are not very ambitious,” Nicolai Tangen, head of Norway’s sovereign wealth fund, the world’s largest, told The Financial Times. “Americans just work harder.”“European businesses need to regain self-confidence,” Europe’s association of chambers of commerce declared.The list of reasons for what has been called the “competitiveness crisis” goes…

Sam Butcher, the soft-spoken artist whose doe-eyed, pastel-hued porcelain Precious Moments figurines ignited a global collecting frenzy and made him a wealthy man, and whose Christian faith spurred him to build his own version of the Sistine Chapel in Carthage, Mo., died on May 20 at his home there. He was 85.His death was confirmed by his son Jon.Mr. Butcher was the Michelangelo of Missouri, and his adorable snub-nosed Precious Moments characters were “the Beanie Babies of porcelain,” as The Wall Street Journal once put it. Their zealous collectors, who numbered in the hundreds of thousands, built rooms for their…

Southern California appeared to be under siege from a blockade.More than 50 enormous vessels bobbed in the frigid waters of the Pacific Ocean, marooned off the twin ports of Los Angeles and Long Beach, Calif. As days stretched into weeks, they waited their turn to pull up to the docks and disgorge their cargo. Rubberneckers flocked to the water’s edge with binoculars, trying to count the ships that stretched to the inky horizon.This was no act of war. This was what it looked like when the global economy came shuddering to a halt.It was October 2021, and the planet had…

An arbitrator ruled in Netflix’s favor in a high-profile dispute between the streaming giant and the Hollywood director Carl Erik Rinsch over a science-fiction series that never aired, awarding the company nearly $9 million in damages.Mr. Rinsch had sold Netflix the television show, “Conquest,” near the height of the streaming boom in 2018, but he never delivered any episodes. Netflix had to write off the $55 million it had spent on the project — a fiasco that became a symbol of the era of profligate spending that Hollywood studios are trying to put behind them as they focus on increasing…

Transparency International, in conjunction with the Partnership for Central America (PCA), has launched an innovative endeavor known as the Anti-Corruption and Transparency Initiative for Central America (ACT Project). This pioneering project aims to enhance corporate honesty and foster a more inviting environment for investments across the area.The launch event provided a platform for a strategic debate on the project's objective. It has the potential to revolutionize the regional business landscape and create sustainable growth through transparent practices and collective action by bringing together prominent stakeholders and industry experts.In the upcoming article, explore this innovative initiative and learn about the various…