• The regulators, from the F.T.C. and Justice Department, offered few details about their inquiries into the tech industry, frustrating some lawmakers Link
    NYT Business Wed 18 Sep 2019 18:46
    Makan Delrahim, the top antitrust official at the Justice Department, testifying on Tuesday in Washington, along with Joe Simons, the chairman of the Federal Trade Commission.CreditCreditGabriella Demczuk for The New York Times
  • RT @ronlieber: The extremely funny tale of how @davidenrich's minivan both slays bankers and pacifies small children. https://t.co/GD9UVKCg…
    NYT Business Wed 18 Sep 2019 18:31
  • Fed cuts interest rates by another quarter point Link https://t.co/OkcN1yByVb
    NYT Business Wed 18 Sep 2019 18:11

    WASHINGTON — The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, its second move since late July, as it tries to insulate the economy against rising political risks and the fallout from a global slowdown.

    A growing number of officials expect one more reduction this year, based on economic projections released following the meeting, in-line up with investor and economist expectations.

  • “She has done a good job setting a vision and moving the company in the right direction." Now Mary Barra is contending with a global decline in auto demand and a striking work force. Link
    NYT Business Wed 18 Sep 2019 18:06
    Mary Barra, the General Motors chief executive, in March at the assembly plant in Lake Orion, near Detroit. She announced that the company would spend $300 million to prepare the plant to make a new electric vehicle.CreditCreditCarlos Osorio/Associated Press
  • The original boss of Netflix recalls the company during its scruffy start-up days, long before binge-watching, when DVDs in red envelopes were all the rage Link
    NYT Business Wed 18 Sep 2019 17:46

    SANTA CRUZ, Calif. — Long before binge-watching, the streaming wars and “Netflix and chill,” there were two guys barreling down Highway 17 — the California roadway that connects Santa Cruz to Silicon Valley — trying to come up with the next big thing.

    One was Marc Randolph, an entrepreneur and marketing specialist who had co-founded a start-up, Integrity QA. The other was Reed Hastings, then the head of the software company Pure Atria.

    It was 1997. Mr. Randolph, whose start-up had been acquired by Pure Atria, did most of the pitching. Customized dog food, customized baseball bats, customized shampoo — all sold over the internet and delivered by mail.

    Mr. Hastings was the one with the cash and the ability to shoot down ideas without worrying about hurt feelings.

  • Federal Reserve officials are expected to cut interest rates for a second time today. Here's a preview. Link
    NYT Business Wed 18 Sep 2019 17:26

    The central bank is set to announce its decision at 2 p.m. There will be a lot of moving parts, but policymakers are unlikely to do enough to satisfy President Trump.

  • The We Company, WeWork's parent, is the latest of the so-called unicorns — businesses funded by venture capital firms that are valued at $1 billion or more — to falter. Shares in Uber and Lyft, two others, dropped significantly after offerings this year. Link
    NYT Business Wed 18 Sep 2019 17:06
    A WeWork space in New York. The prospect of going public has focused attention on a business that is deeply unprofitable and will most likely remain so for years.CreditCreditJustin Lane/EPA, via Shutterstock
  • RT @jeannasmialek: As you eagerly await 2 p.m., check out our Fed decision day preview. Link
    NYT Business Wed 18 Sep 2019 16:50

    The central bank is set to announce its decision at 2 p.m. There will be a lot of moving parts, but policymakers are unlikely to do enough to satisfy President Trump.

  • A harrowing new ad from a gun safety group starts as cheerfully as any other back-to-school commercial, with kids showing off their school supplies. Then it gets darker. "These new sneakers are just what I needed," one boy says as he runs from gunshots. Link
    NYT Business Wed 18 Sep 2019 16:45

    Going back to school means worrying about what to wear, deciding what classes to take and, increasingly, knowing what to do if someone appears on campus with a gun.

    This reality in American classrooms is reflected in a harrowing ad being released on Wednesday from Sandy Hook Promise, a gun safety advocacy group created after the shooting at Sandy Hook Elementary School in Newtown, Conn., in 2012.

    The spot, which will debut during the “Today” show, starts as cheerfully as any other back-to-school commercial, with a boy at his locker praising his new backpack.

  • RT @davidenrich: The @nytimes does a regular column on the technology its journalists use. This week was my turn. Link
    NYT Business Wed 18 Sep 2019 16:30
    David Enrich’s family car, a 2017 Toyota Sienna, gives him a place to work (while his wife drives) and his sons a place to play (while it’s parked in the driveway).CreditCreditVincent Tullo for The New York Times
  • In search of extra revenue, the M.T.A. is developing a plan to bring a wider mix of retail and restaurants to the subway's underground passageways Link
    NYT Business Wed 18 Sep 2019 16:25
    Record Mart in the Times Square subway station in New York, which will be part of a redevelopment project to add shops and restaurants to the subway system.CreditCreditJeenah Moon for The New York Times
  • RT @deborah_solomon: It's Fed Day! A rate cut, new economic projections and a possible balance sheet build up are on the table. Here’s what…
    NYT Business Wed 18 Sep 2019 16:10
  • Madewell has become a shining retail star, one that filed for IPO at the same time that its parent, the once-popular J. Crew brand, struggles to regain relevance Link
    NYT Business Wed 18 Sep 2019 16:05

    When J. Crew started opening Madewell stores in 2006, the company declared that its new brand would deliver “real, honest women’s clothes” for hip 20- and 30-somethings. “Not too trendy, not too girly, just cool clothes infused with a modern upbeat attitude,” it said in a release at the time, promoting the worn-in feel of the retailer’s T-shirts, jeans and chinos.

    The idea worked better, perhaps, than the company expected.

    Madewell has since become a shining retail star, one that filed for an initial public offering on Friday at the same time that the once-popular J. Crew brand struggles to regain relevance in an increasingly online environment. The fortunes of the chains have diverged so much that Madewell’s I.P.O. will help raise much-needed capital for its parent, J. Crew, which will remain private.

    While Madewell is only about one-third the size of J. Crew, the brand has taken off in recent years thanks to a retail strategy better suited to today’s...

  • The regulators, from the F.T.C. and Justice Department, offered few details about their inquiries into the tech industry, frustrating some lawmakers Link
    NYT Business Wed 18 Sep 2019 15:45
    Makan Delrahim, the top antitrust official at the Justice Department, testifying on Tuesday in Washington, along with Joe Simons, the chairman of the Federal Trade Commission.CreditCreditGabriella Demczuk for The New York Times
  • Trump races for trade deals with Japan and India as China fight persists Link
    NYT Business Wed 18 Sep 2019 15:35
    President Trump and Prime Minister Shinzo Abe of Japan discussing trade at the Group of 7 summit in France last month. Unlike traditional trade deals, any agreement they announce is likely to be confined to a few sectors or products.CreditCreditErin Schaff/The New York Times
  • RT @EnnisNYT: “Gun violence and school shootings are not easy subjects, and they shouldn’t be fun to watch.” @tiffkhsu on harrowing new gun…
    NYT Business Wed 18 Sep 2019 15:15
  • “If she cares about us, where is she now?" said a worker at a plant where General Motors CEO Mary Barra paid a visit this year. Good will has been elusive at GM, where UAW members walked out Sunday night. Link
    NYT Business Wed 18 Sep 2019 15:05
    Mary Barra, the General Motors chief executive, in March at the assembly plant in Lake Orion, near Detroit. She announced that the company would spend $300 million to prepare the plant to make a new electric vehicle.CreditCreditCarlos Osorio/Associated Press
  • Is it the 1970s all over again? Don't be fooled. Link https://t.co/h0WwELUW6l
    NYT Business Wed 18 Sep 2019 14:45

    History doesn’t repeat, they say, but it often rhymes. And the latest economic headlines feature an uncanny tonal resemblance to those of the early 1970s.

    General Motors workers are on strike, seeking more of the spoils of their employer’s successes. The president of the United States is pressuring the Federal Reserve to lower interest rates, hoping for a booming economy as he seeks re-election. And now, violence in the Middle East is pushing up global oil prices.

    At first glance, at least, it seems similar to an era of gas lines and “stagflation.”

    In each of these situations, though, there are big underlying differences between the early 1970s and now. Understanding those differences is important in properly understanding the world economy in 2019 and the risks posed by this combination of events.

    The G.M. strike, which began late Sunday with about 50,000 autoworkers walking off the job, could turn out to be the most important clash between labor and...

  • With Silicon Valley teeming with the promise of efficiency and data-fueled intelligence, a natural relationship between technology and agriculture has developed Link
    NYT Business Wed 18 Sep 2019 14:35

    This article is part of our ongoing Fast Forward series, which examines technological, economic, social and cultural shifts that happen as businesses evolve.

    The Central Valley of California doesn’t begin so much with a gradual change in the landscape as with an abrupt line. Suddenly, a barren plain that looks like an apt cue for “The Good, the Bad and the Ugly” theme song is interrupted by the first row of leafy, irrigated crops.

    Since the 1930s, the region has run on human control of water, carefully distributing the melting mountain snowpack through reservoirs and dams, pumping stations and irrigation pipelines, through drips, sprinklers and intentionally flooded fields. Combined with groundwater pumps, the system turned the valley’s Mediterranean and desert climates into the country’s produce basket, producing one-fourth of the country’s food on just 1 percent of its land.

    Recent years have brought severe droughts that have forced farmers to become more...

  • DealBook Briefing: Facebook has a ‘Supreme Court’ now Link
    NYT Business Wed 18 Sep 2019 14:15

    Good Wednesday morning. On the agenda: The Fed will conduct another market operation today to control short-term interest rates, and it is expected to announce another cut to its benchmark rate. More below. (Was this email forwarded to you? Sign up here.)

  • The Fed will make news at 2 pm. Here's a preview of what to expect. Link
    NYT Business Wed 18 Sep 2019 14:05

    The central bank is set to announce its decision at 2 p.m. There will be a lot of moving parts, but policymakers are unlikely to do enough to satisfy President Trump.

  • David Enrich, finance editor, does a lot of work while on the move Link
    NYT Business Wed 18 Sep 2019 13:45
    David Enrich’s family car, a 2017 Toyota Sienna, gives him a place to work (while his wife drives) and his sons a place to play (while it’s parked in the driveway).CreditCreditVincent Tullo for The New York Times
  • “Gun violence and school shootings are not easy subjects, and they shouldn’t be fun to watch." The latest ad from a gun safety advocacy group presents a stark picture of a school shooting. Link
    NYT Business Wed 18 Sep 2019 13:25

    Going back to school means worrying about what to wear, deciding what classes to take and, increasingly, knowing what to do if someone appears on campus with a gun.

    This reality in American classrooms is reflected in a harrowing ad being released on Wednesday from Sandy Hook Promise, a gun safety advocacy group created after the shooting at Sandy Hook Elementary School in Newtown, Conn., in 2012.

    The spot, which will debut during the “Today” show, starts as cheerfully as any other back-to-school commercial, with a boy at his locker praising his new backpack.

  • You should upgrade if your current iPhone is at least five years old, but for everyone with smartphones from 2015 or later, there is no rush to buy Link https://t.co/tZPRJWxWpK
    NYT Business Wed 18 Sep 2019 13:10

    Over more than a decade of writing about technology, reviewing a new iPhone has long been one of my simplest assignments.

    Year after year, the formula was this: I tested the most important new features of Apple’s latest smartphone and assessed whether they were useful. Assuming the newest iPhone worked well, I generally recommended upgrading if you had owned your existing smartphone for two years.

    But with this review of the iPhone 11, 11 Pro and 11 Pro Max — which Apple unveiled last week and will become available Friday — I’m encouraging a different approach. The bottom line? It’s time to reset our upgrade criteria.

    That’s because we are now living in the golden age of smartphones, when the gadgets’ improvements each year are far from seismic. Devices that debuted three years ago remain zippy and more than capable. Those with the iPhone 7 from 2016, for example, still have a very good phone with a stellar camera and fast speeds.

  • While G.M.'s chief executive, Mary Barra, is not at the table with U.A.W. leaders, she is staying nearby and taking an active role Link
    NYT Business Wed 18 Sep 2019 12:50
    Mary Barra, the General Motors chief executive, in March at the assembly plant in Lake Orion, near Detroit. She announced that the company would spend $300 million to prepare the plant to make a new electric vehicle.CreditCreditCarlos Osorio/Associated Press
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