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This photo taken on May 10, 2025 shows cargo ships loaded with containers at the Port of Los Angeles in California, United States. In a recent advertisement, California Governor Gavin Newsom warned the American public of the “real” and “serious” consequences of recent high tariffs, describing the situation as a “code red” economic emergency.TO GO WITH “California governor warns of ‘code red’ economic emergency due to high tariffs” (Photo by Qiu Chen/Xinhua via Getty Images)

LA Port shipments fell 30% in early May after Trump tariffs

By Laura Curtis and Bloomberg

Vice chairman of the Swiss National Bank (SNB) Martin Schlegel looks on during a general shareholders meeting of the Swiss central bank in Bern on April 28, 2023. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)

SNB President Schlegel sees no alternative to US Treasuries

By Bastian Benrath-Wright and Bloomberg

people walking by wall street banks

Moody’s cuts deposit ratings at major banks after downgrading U.S.

By Dan Wilchins and Bloomberg

woman waiting for lyft ride at airport

Travel & Leisure

Lyft revives pooled rides at airports in push for cheaper trips

By Natalie Lung and Bloomberg

customers walking by Foot Locker store

Nike poised to win in Dick’s Sporting acquisition of Foot Locker

By Will Kubzansky, Kim Bhasin, and others

Revolut bank’s CEO Nikolay Storonsky takes part in a keynote speech during an event in London on November 22, 2024. (Photo by BENJAMIN CREMEL / AFP) (Photo by BENJAMIN CREMEL/AFP via Getty Images)

Revolut plans to invest €1 billion in France, apply for license

By Aisha S Gani, Claudia Cohen, and others

LEIGH, ENGLAND – JANUARY 31: Bottles of Gordon’s London Dry Gin are displayed for sale on January 31, 2024 in Leigh on Sea, England. Diageo plc, British multinational alcoholic beverage company share price has been struggling lately due to weaker sales in the Americas. (Photo by John Keeble/Getty Images)

Diageo plans $500 million of cost cuts as U.S. tariffs kick in

By Sabah Meddings and Bloomberg

The move comes after years of reviews and discussions about how fast-growing firms like Klarna, Clearpay, PayPal, and Zilch provide consumer credit products.

U.K. moves forward with plans to regulate buy-now, pay-later firms

By Tom Metcalf and Bloomberg

A general view of Alibaba headquarters is illuminated in Shanghai, China, on April 9, 2025. (Photo by Ying Tang/NurPhoto via Getty Images)

Alibaba shares slide as AI deal with Apple faces U.S. scrutiny

By Charlotte Yang and Bloomberg

A Seres Group Co. Aito M9 electric vehicle on display at the Shanghai Auto Show in Shanghai, China, on Thursday, April 24, 2025. The event in the world’s biggest automobile market will put a spotlight on some of China’s most significant carmakers, including more recent entrants into the EV industry like Huawei and Xiaomi. Photographer: Qilai Shen/Bloomberg via Getty Images

Chinese luxury carmaker Seres comes from behind to overtake BMW

By Linda Lew and Bloomberg

UNITED STATES – MAY 14: Rep. Nick LaLota, R-N.Y., speaks to reporters as he arrives for the meeting in Speaker Johnson’s office with Republican House members on the reconciliation package on Thursday, May 15, 2025. (Bill Clark/CQ-Roll Call, Inc via Getty Images)

New York Republican floats higher tax rate to pay for SALT

By Steven T. Dennis and Bloomberg

Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company’s safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. Families of the victims of Ethiopian Airlines flight 302, a Boeing 737 Max 8 that crashed in 2019, attended the hearing and spoke to reporters earlier in the day. Calhoun plans to step down at the end of 2024. (Photo by Allison Bailey / Middle East Images / Middle East Images via AFP) (Photo by ALLISON BAILEY/Middle East Images/AFP via Getty Images)

US says no decision yet on whether to drop Boeing criminal case

By Julie Johnsson and Bloomberg

NEW ORLEANS, LOUISIANA – FEBRUARY 09: U.S. President Donald Trump walks onto the field prior to Super Bowl LIX between the Kansas City Chiefs and the Philadelphia Eagles at Caesars Superdome on February 09, 2025 in New Orleans, Louisiana. (Photo by Jamie Squire/Getty Images)

Costly loss for sports team owners embedded in Trump tax bill

By Billy House and Bloomberg

WASHINGTON, DC – APRIL 30: President and CEO of Nvidia Jensen Huang speaks on AI at the return of American manufacturing at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. The Hill and Valley Forum brings together lawmakers, tech CEOs, and venture capitalists to discuss technology and national security. (Photo by Kevin Dietsch/Getty Images)

Nvidia CEO sees no evidence of AI chip diversion into China

By Annabelle Droulers and Bloomberg

WASHINGTON, DC – APRIL 25: Securities and Exchange Commission Chairman Paul Atkins gives opening remarks at a roundtable with the SEC’s Crypto Task Force at the Securities and Exchange Commission headquarters on April 25, 2025 in Washington, DC. SEC officials held the roundtable that was titled “Know Your Custodian: Key Considerations for Crypto Custody” in which they heard from officials working in Crypto. (Photo by Anna Moneymaker/Getty Images)

CEO compensation disclosure gets fresh scrutiny from Trump’s SEC

By Lydia Beyoud and Bloomberg