Business

The New York Times reports: A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen inflated the value of the company’s earnings. That May, Toyota reported the highest annual profit ever recorded by a Japanese firm. On Thursday, Toyota presented a significantly more somber outlook, projecting that …

The Washington Post reports: President Donald Trump and the U.S. Postal Service’s governing board are expected to name FedEx board member and former Waste Management CEO David Steiner as the nation’s next postmaster general, helping solidify the White House’s control over the historically independent mail service. Steiner replaces Louis DeJoy, whom Trump forced out of the role in March amid …

Reuters reports: Ford Motor is hiking prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs. Prices on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase by as much as $2,000 on some models, according to a notice sent …

The New York Times reports: In a new test for its singularly American brand, the Walt Disney Company said on Wednesday that it had reached an agreement with the Miral Group, an arm of the Abu Dhabi government, to build a theme park resort on the Persian Gulf. The property, the seventh in Disney’s global portfolio, will have a castle …

The Daily Beast reports: Immigration and Customs Enforcement agents raided multiple restaurants in Washington, D.C., on Tuesday, including one owned by the husband of CBS News anchor Norah O’Donnell. Chef Geoff’s, an American eatery founded by O’Donnell’s husband Geoff Tracy, had its Northwest D.C. location near American University raided by nearly a dozen ICE agents on Tuesday morning, according to …

The Washingtonian reports: Immigration and Customs Enforcement agents are targeting DC restaurants today in what is shaping up to be one of the city’s most high-profile examples yet of President Donald Trump’s immigration crackdown. Millie’s in Spring Valley, Pupatella in Dupont Circle, Chef Geoff’s in Northwest, and Chang Chang downtown are among the businesses that immigration officials have visited seeking …

Australia’s NewsCorp outlet reports: A cafe owner has closed his business just six weeks after opening in Sydney’s inner west, blaming “snowflakes” for the failure of his latest venture. Mark Da Costa opened Bueno Eatery in St Peters in March after closing down his Waterloo cafe Hale and Hearty in 2020 after being involved in a series of internet controversies, …

MarketWatch reports: Ford Motor Co. late Monday pulled its 2025 guidance, citing significant near-term risks, and said it expects a tariff hit of about $1.5 billion for the year as U.S. automakers continue to grapple with economic uncertainty and some consumers shy away from big-ticket expenses. Ford listed four “material” reasons it was pulling the year’s outlook, saying it sees …

The Washington Post reports: Skype users bade farewell to the online communication service Monday, reminiscing about late-night calls with friends, long-distance dates and free catch-ups with far-flung family — along with pixelated faces and “Can you hear me?” moments. Microsoft, its owner, has shuttered the service to focus on its alternative calling service, Teams. The decision to scrap Skype, announced …

The New York Times reports: The condo board at a troubled 1,400-foot luxury tower on New York City’s Billionaires’ Row is accusing developers of “deliberate and far-reaching fraud” by failing to disclose early cracks in the facade that it says could lead to dangerous structural issues. Condo board members say that CIM Group and other developers of 432 Park Avenue …

USA Today reports: If you’ve recently purchased tomatoes, you may want to check the label. There have been two separate recalls affecting tomatoes sold across 14 states. Ray & Mascari Inc. was notified by Hanshaw & Capling Farms of Florida that they were recalling the lot of tomatoes it sent to be repackaged into the 4 Count Vine Ripe Tomatoes …

Axios reports: Temu has stopped shipping products from China to the U.S. ahead of an executive order from President Trump that went into effect on Friday. The “de minimis” loophole was an important protection for businesses overseas and U.S. customers, exempting low-value packages from tariffs — until now. Temu changed its website and app to only display listings from products …

The Guardian reports: Voters in a small patch of south Texas are casting their ballots on Saturday in an election that could give Elon Musk a town to call his own. The vote would officially create a new city called Starbase in the area where Musk’s SpaceX holds its Texas rocket launches. The outcome, which will be decided almost entirely …

Yahoo Finance reports: Microsoft is raising the price of its Xbox consoles, games, and accessories worldwide amid ongoing tariff uncertainty surrounding consumer technology goods. Video game companies manufacture consoles and accessories in China, which is currently subject to 145% reciprocal tariffs, and areas like Vietnam, subject to a 10% blanket tariff. Physical games, discs, and cartridges are also produced in …

Yahoo Tech reports: Need a real-world example of how Trump’s tariffs are hitting the electronics industry? Wyze says it paid $255,000 with import fees to ship just $167,000 worth of product. On Wednesday, Wyze posted a screenshot of a shipment receipt. “Just got our first tariff bill. We imported $167k of floodlights and then paid $255k in tariffs. That’s more …

The Dallas News reports: Airbus SE said it won’t cover the cost of tariffs on its planes imported by U.S. airlines, setting up a clash with carriers unwilling to shoulder surcharges imposed by President Donald Trump. The European planemaker is responsible for any added duties on supplies it imports to its own aircraft assembly plant in Mobile, Alabama, and then …

The New York Times reports: General Motors cut its profit forecast for 2025 on Thursday by more than 20 percent and said that the Trump administration’s tariffs would increase its costs by $4 billion to $5 billion this year. In a conference call with analysts, G.M. executives said the company now expects to make $8.2 billion to $10.1 billion this …

The Wall Street Journal reports: Kohl’s fired its chief executive Ashley Buchanan after it discovered he had instructed the retailer to enter into a “highly unusual” business deal involving a woman with whom he has had a romantic relationship, according to people familiar with the situation. Buchanan met the woman, Chandra Holt, when they were both working at Walmart several …

CNN reports: Some of the last cargo ships carrying Chinese goods without crippling tariffs are currently drifting into US ports. Come next week, though, that will change. Cargo on ships from China loaded after April 9 will carry with them the 145% tariff President Donald Trump slapped on goods from that nation last month. Next week, those goods will arrive, but …

CNBC reports: Shares of Tesla were flat in premarket trading Thursday after the EV maker denied a Wall Street Journal report that its board was searching for a replacement for chief executive Elon Musk. The report, citing comments from sources familiar with the discussions, said that Tesla’s board members reached out to several executive search firms to work on a …