Business - Saturday, May 16, 2026

China’s Ministry of Commerce said Saturday that the countries had struck a preliminary agreement to reduce some tariffs, seemingly contradicting statements by President Trump

The global rush to stockpile manufactured goods on fears of an energy-supply crunch will again overshadow business surveys in the coming week gauging the impact of a third month of war in the Middle East.

President Donald Trump has been considered the ultimate stock market president, overseeing an expansion to record highs as well as major declines.

Private credit’s aggressive push to court retail investors has exposed the industry to a less familiar threat: public market volatility, which is dragging business development company shares toward their steepest discounts relative to their assets since the pandemic.

In unprecedented self-dealing maneuver, billions of taxpayer dollars could be paid to US president and his allies There is growing concern Donald Trump ’s massive $10bn lawsuit against the Internal Revenue Service may soon be settled by his own administration – an unprecedented, self-dealing maneuver for a US president, in which billions of taxpayer dollars could be transferred to the president or his allies. Trump may agree to drop his lawsuit in exchange for the launch of a $1.7bn fund to compensate people he says were wrongfully targeted by the Biden administration, according to reports by ABC News and the New York Times . Continue reading...

Workers at the Long Island Rail Road, serving the eastern New York metropolitan area, walked off the job on Saturday North America’s largest commuter rail system was shut down on Saturday after unionized workers in the New York City area went on strike. The Long Island Rail Road that serves the city’s eastern suburbs ceased operations on early Saturday morning after five unions representing about half its workforce walked off the job. Continue reading...

The news doesn’t stop when markets close. Hosts David Gura, Christina Ruffini and Lisa Mateo bring clarity, context and a bit of humor to the weekend’s biggest headlines, LIVE from New York. Joined by Nicole Grajewski, Nonresident Scholar, Nuclear Policy Program, Carnegie Endowment for International Peace, Holly Alfano, CEO of Independent Lubricant Manufacturers Association, and Fortesa Latifi, Author of "Like, Follow, Subscribe: Influencer Kids and the Cost of a Childhood Online." (Source: Bloomberg)

Daleep Singh knows how energy and markets intersect. He sees trouble ahead.

Two of the world’s richest people faced an airing of their dirty laundry amid their messy, bitter feud over OpenAI A nine-person jury is set to decide whether Elon Musk ’s allegations of “stealing a charity” against Sam Altman and OpenAI are legitimate, with deliberations to begin in earnest on Monday. Whatever its outcome, the case has been an illuminating, at times exhausting, look behind the scenes at the history of OpenAI and how some of the most powerful figures in the tech industry operate. Attorneys for both sides have introduced reams of private text messages, emails and even diary entries to support their arguments. A who’s who of Silicon Valley testified in the trial, including Microsoft CEO Satya Nadella and the mother of some of Musk’s children, Shivon Zilis. Both Altman and Musk also took the stand for hours, facing combative cross-examinations that painted them each as untrustworthy. Continue reading...

Washington quickly brushed off a startling milestone in a mounting problem.