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Jerome H. Powell, the chair of the Federal Reserve, said on Friday that resilient economic growth is giving the central bank the flexibility to be patient before cutting interest rates.Fed officials raised interest rates sharply from early 2022 to mid-2023, and they have left them at about 5.3 percent since last July. That relatively high level essentially taps the brakes on the economy, in part by making it expensive to borrow to buy a house or start a business. The goal is to keep rates high enough, for long enough, to wrestle inflation back under control.But price increases have cooled…

The telecommunications giant AT&T announced on Saturday that it had reset the passcodes of 7.6 million customers after it determined that compromised customer data was “released on the dark web.”“Our internal teams are working with external cybersecurity experts to analyze the situation,” AT&T said. “To the best of our knowledge, the compromised data appears to be from 2019 or earlier and does not contain personal financial information or call history.”The company said that “information varied by customer and account,” but that it may have included a person’s full name, email address, mailing address, phone number, Social Security number, date of…

The ambitious law, which supporters hope to see replicated nationwide, has been characterized by opposing sides in stark terms. To backers, it is a step toward fair compensation for low-wage workers who faced significant risk during the pandemic. To opponents, it is a cataclysmic move that will raise food prices, lead to job losses and force some franchisees to consider closing.“People don’t understand that when wages rise, so do the prices,” Mr. Bynum said.Mr. Bynum has, in recent years, raised prices to try to maintain profit margins — and each time, he said, he has noticed a drop in customers.…

In June 2017 — as he was reeling from the end of his marriage of more than two decades and some of the most disastrous investments of his career — Bill Ackman, the billionaire hedge-fund financier, joined Twitter.In his few posts that year and the next, Mr. Ackman, now 57, shared a picture of himself posing in line at the fast-food chain Chipotle, one of his largest investments; links to position papers on another investment, ADP; and a news release announcing the winners of his foundation’s awards. He offered his early Twitter followers little of the drama that was part…

For those striking at the gates of the SRW scrap metal plant, just outside Germany’s eastern city of Leipzig, time can be counted not just in days — 136 so far — but in the thousands of card games played, the liters of coffee imbibed and the armfuls of firewood burned.Or it can be measured by the length of Jonny Bohne’s beard. He vows not to shave until he returns to the job he has held for two decades. Wearing his red union baseball cap and tending the blaze inside an oil drum, Mr. Bohne, 56, looks like a scruffy…

The Federal Aviation Administration will scrutinize United Airlines’ operations more closely in coming weeks after a spate of recent safety incidents, the airline told employees in a memo on Friday.“We will begin to see more of an F.A.A. presence in our operation as they begin to review some of our work processes, manuals and facilities,” Sasha Johnson, a vice president of corporate safety at the airline, said in the memo. “We welcome their engagement and are very open to hear from them about what they find and their perspective on things we may need to change to make us even…

Shortly after Jonathan Kanter took over the Justice Department’s antitrust division in November 2021, the agency secured an additional $50 million to investigate monopolies, bust criminal cartels and block mergers.To celebrate, Mr. Kanter bought a prop of a giant check, placed it outside his office and wrote on the check’s memo line: “Break ’Em Up.”Mr. Kanter, 50, has pushed that philosophy ever since, becoming a lead architect of the most significant effort in decades to fight the concentration of power in corporate America. On Thursday, he took his biggest swing when the Justice Department filed an antitrust lawsuit against Apple.…

Federal Reserve officials left interest rates unchanged on Wednesday and continued to forecast that borrowing costs will come down somewhat by the end of the year as inflation eases.Fed policymakers have been battling rapid inflation for two full years as of this month, and while they have been encouraged by recent progress, they are not yet ready to declare victory over price increases. Given that, they are keeping interest rates at a high level that is expected to weigh on growth and inflation, even as they signal that rate cuts are likely in the months ahead.Officials held interest rates steady…

President Biden in his budget this week staked out major economic battle lines with former President Donald J. Trump, the presumptive Republican presidential nominee. The proposal offers the nation a glimpse of the diverging directions that retirement programs, taxes, trade and energy policy could take depending on the outcome of the November election.During the past three years, Mr. Biden has enacted key pieces of legislation aimed at bolstering the green energy economy, making infrastructure investments and reinforcing America’s domestic supply chain with subsidies for microchips, solar technology and electric vehicles. Few of those priorities are shared by Mr. Trump, who…

“I always tell my kids, the more you mess about, the more you find out,” she said, using a fruitier term than “mess.”“Quite quickly, I realized that work was something I needed,” she said, “and I think I had a sense it was actually going to be within fashion,” even if she knew she didn’t want to go back to what she had done. In most big houses, designers’ jobs end at the runway. They don’t oversee the ad campaigns or the merchandising or the store design. Ms. Philo wanted to have fingers in all of that. Even if independence…