Business

Edward E. Crutchfield, a banker who grew a small North Carolina bank into one of the nation’s largest through a deal-making spree that earned him the nickname “Fast Eddie” and helped establish Charlotte, N.C., as a national financial hub, died on Jan. 2 at his home in Vero Beach, Fla. He was 82.His death was confirmed by his son, Elliott, who said his father had dementia.When Mr. Crutchfield graduated from business school in 1965, he took a job as a credit analyst at First Union bank in Charlotte. It was the lowest-paying job he was offered, but he thought he…

In early January in San Antonio, dozens of Ph.D. economists packed into a small windowless room in the recesses of a Grand Hyatt to hear brand-new research on the hottest topic of their annual conference: how climate change is affecting everything.The papers in this session focused on the impact of natural disasters on mortgage risk, railway safety and even payday loans. Some attendees had to stand in the back, as the seats had already been filled. It wasn’t an anomaly.Nearly every block of time at the Allied Social Science Associations conference — a gathering of dozens of economics-adjacent academic organizations…

Voters in New Hampshire received robocall messages over the weekend in a voice that was most likely artificially generated to impersonate President Biden’s, urging them not to vote in Tuesday’s primary election, according to the state attorney general’s office.The fake recordings, which told listeners that “your vote makes a difference in November, not this Tuesday,” were manipulated to seem as if they had been sent by an officer of a Democratic committee, the office said.The attorney general’s office stressed that voting in the primary would not rule out voters from also casting ballots in the general election in November.“These messages…

In the Red Sea, attacks by Iranian-backed Houthi militants on commercial ships continue to disrupt a crucial trade route and raise shipping costs. The threat of escalation there and around flash points in Lebanon, Iraq, Syria, Yemen and now Iran and Pakistan ratchets up every day.Despite the staggering death toll and wrenching misery of the violence in the Middle East, the broader economic impact so far has been mostly contained. Oil production and prices, a critical driver of worldwide economic activity and inflation, have returned to pre-crisis levels. International tourists are still flying into other countries in the Middle East…

The S&P 500 index closed at a record on Friday, crossing above its old high-water mark, set in early 2022. The gains show that investors have overcome fears of rising interest rates and panic about a recession that had governed stock trading for much of the past two years.Instead, they’re now betting that a drop in rates will help expand corporate profits, while the economy stays on a relatively solid footing.Even though the S&P 500 had struggled to push into the record — having bumped up against it for weeks before finally crossing above with jump on Friday — the…

The Biden administration has begun pumping more than $2 trillion into U.S. factories and infrastructure, investing huge sums to try to strengthen American industry and fight climate change.But the effort is facing a familiar threat: a surge of low-priced products from China. That is drawing the attention of President Biden and his aides, who are considering new protectionist measures to make sure American industry can compete against Beijing.As U.S. factories spin up to produce electric vehicles, semiconductors and solar panels, China is flooding the market with similar goods, often at significantly lower prices than American competitors. A similar influx is…