Investments and Business

Cindy Camp is one of many Americans facing rising utility costs. Ms. Camp, who lives in Baltimore with three family members, said her gas and electric bills kept “going up and up” — reaching as high as $900 a month. Her family has tried to use less hot water by doing fewer loads of laundry, and she now eats more fast food to save on grocery bills.Ms. Camp would like to save money on energy bills by transitioning to more energy-efficient appliances like a heat pump and solar panels. But she simply cannot afford it.“It’s a struggle for me to…

For 15 minutes, the cryptocurrency industry was euphoric.At 4:11 p.m. on Tuesday, the official X account of the Securities and Exchange Commission announced that regulators had approved a new investment product tracking the price of Bitcoin, an apparent victory for the embattled crypto industry. Coinbase, a giant crypto exchange, posted a celebratory banner. Crypto fans hailed it as a historic day for the industry. Bitcoin’s price spiked.Then at 4:26 p.m., Gary Gensler, the chair of the S.E.C., posted that the agency’s account had been compromised, resulting in an “unauthorized tweet.” An S.E.C. spokeswoman confirmed the hack in an emailed statement.The…

U.S. Steel is an iconic example of the lost manufacturing muscle that President Biden says his economic policies will bring back to the United States.But last month, the storied-but-diminished company announced plans to be acquired by a Japanese competitor. That development has put Mr. Biden in an awkward bind as he tries to balance attempts to revitalize the nation’s industrial sector with his efforts to rebuild international alliances.Mr. Biden’s administration has expressed some discomfort with the deal and is reviewing the proposed $14.1 billion takeover bid by Japan’s Nippon Steel. The company is offering a hefty premium for U.S. Steel,…

Alaska Airlines grounded its fleet of Boeing 737 Max 9 aircraft on Friday after a flight operated by the airline made an emergency landing at Portland International Airport in Oregon that evening because of a midair pressure problem that passengers said blew out a chunk of the fuselage.The airline said that Alaska Airlines Flight 1282 had made a safe emergency landing carrying 171 passengers and six crew members at the Portland airport shortly after takeoff for Ontario, Calif. Within hours, the company said that it was grounding all 65 of its Boeing 737 Max 9 aircraft until it could inspect…

The Biden administration on Thursday announced plans to provide $162 million in federal grants to Microchip Technology, an Arizona-based semiconductor company that supplies the automotive, defense and other industries.The agreement is the second award announced under a new program intended to help ensure that American companies that rely on semiconductors have a stable supply. Last month, the Biden administration announced a $35 million grant for BAE Systems, a defense contractor.The investment will enable Microchip to increase its production of semiconductors that are used in cars, airplanes, appliances, medical devices and military products. The administration said it expected the award to…

The financial news network Cheddar placed at least some of its employees on unpaid leave on Tuesday, the latest development for the start-up that bills itself as a destination for younger viewers.The news network put the affected workers on furlough, effective immediately, and barred employees from further work, according to an email sent to the employees.“We would like to have given you more notice of this action, but the decision was necessitated by unforeseen internal and external factors that required rapid adjustments in our business strategy,” said the email, which was seen by The New York Times.Altice USA, the cable…