Lutnick Grilled on Trump’s Tariffs and China During Confirmation Hearing

Doug Burgum, a former Microsoft executive and governor of North Dakota, was confirmed by the Senate to lead the Interior Department, overseeing drilling and mining policies on federal lands and waters. As a key player in implementing President Trump’s pro-oil agenda, Burgum will also run a White House council promoting oil and gas development. Despite criticism from Democrats, Burgum emphasized the need to extract trillions of dollars worth of oil, gas, and minerals from federal...

Starbucks and the union representing its employees are bringing in a mediator to revive stalled contract talks over wage increases, with a goal of finalizing a framework for contracts at unionized stores. A recent bargaining session saw Starbucks offering a 1.5% annual wage increase, prompting a five-day strike in multiple cities during the holiday season. Despite progress in other work conditions, the two sides remain at odds on key economic provisions, with workers citing concerns...

Amazon is laying off workers in its communications and sustainability departments, as well as its North America stores team, as part of a plan announced by CEO Andy Jassy to eliminate excess middle management by March. A leaked document reveals that AWS sales managers must increase direct reports, halt new manager hires, and demote some managers to lower-paying positions. These changes aim to cut costs and improve competitiveness, with estimates suggesting up to 13,834 managers...

The 119th Congress began with calls from both Republicans and Progressive economists for addressing the national debt, driven by rising long-term interest rates and the cost of extending tax cuts. Concerns about a possible tipping point leading to a catastrophic adjustment due to large deficits pushing up interest rates while growth remains steady are growing. Republicans propose spending cuts, while Democrats advocate for more revenue to support increasing retirement benefits eligibility, as mandatory spending rises....

In the Unlock the Editor’s Digest for free, FT Editor Roula Khalaf highlights the European Central Bank's decision to cut its interest rate to 2.75% due to stagnant Eurozone economy, with ECB President Christine Lagarde warning of continued weakness and downside risks. The ECB plans to cut rates further until reaching 1.5%, citing uncertainty and data-driven decisions, despite recent increases in longer-term government bond yields. Lagarde remains optimistic about a gradual recovery, contrasting with the...

Entrepreneur contributors emphasize the importance of adapting to AI in content creation, as it empowers creators with efficient tools but also increases competition. To stand out, businesses must engage audiences across multiple platforms and focus on quality and quantity. By leveraging AI tools, maintaining a consistent presence, personalizing messaging, and prioritizing relationship-building, brands can succeed in the evolving digital landscape. Full Article