The U.S. and 11 other Pacific Rim nations reached a sweeping free trade agreement Monday to cover 40 percent of the world’s economy, sparking skepticism among the administration’s scarce Republican allies in Congress and intensifying calls by liberals for Hillary Rodham Clinton to take a stand against the pact.
Business & Economy
More than five years after a well blowout spilled millions of barrels of oil into the Gulf of Mexico, energy giant BP reached a historic settlement with the Obama administration Monday and will pay the largest environmental penalties in U.S. history.
Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned co-founder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses.
The trust fund that helps pay for disability insurance under Social Security is on track to run out of money next year, a shortfall that would trigger a 19 percent cut in benefits. To avert these painful cuts, policymakers should overhaul the program by dropping the progressive benefit structure and replacing it with a flat benefit that will keep recipients out of poverty.
A dozen Pacific-rim nations including the U.S. and Japan agreed early Monday to a massive free-trade pact that would cut trade barriers and set new labor and environmental standards, setting up a potentially contentious ratification vote before a skeptical Congress.