Investments and Business

Philips Respironics announced on Monday that it would halt sales of all of its breathing machines in the United States after reaching a settlement with the Food and Drug Administration over continuing problems with the devices.Millions of the company’s ventilators and CPAP machines, used to ease breathing at night, were recalled after reports that they blew bits of foam and potentially toxic gases into consumers’ airways.Under the settlement, Philips said it would have to meet a list of standards in a “multiyear” plan before it could resume business in the United States. The company said further details would be disclosed…

The recession America was expecting never showed up.Many economists spent early 2023 predicting a painful downturn, a view so widely held that some commentators started to treat it as a given. Inflation had spiked to the highest level in decades, and a range of forecasters thought that it would take a drop in demand and a prolonged jump in unemployment to wrestle it down.Instead, the economy grew 3.1 percent last year, up from less than 1 percent in 2022 and faster than the average for the five years leading up to the pandemic. Inflation has retreated substantially. Unemployment remains at…

A measure of inflation closely watched by the Federal Reserve continued to cool in December, the latest sign that price increases are coming back under control even as growth remains solid and the labor market healthy. In particularly positive news, a key gauge of price increases dipped below 3 percent for the first time since early 2021.The Personal Consumption Expenditures price index picked up 2.6 percent last month compared to a year earlier. That was in line with what economists had forecast and matched the November reading.But after stripping out food and fuel costs, which can move around from month…

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…

Ruth Ashton Taylor, who was the only woman on the CBS newsman Edward R. Murrow’s postwar radio documentary unit and was widely believed to be the first female newscaster in Los Angeles, died on Jan. 11 in San Rafael, Calif. She was 101.Her daughter Laurel Conklin confirmed the death, at an assisted living facility.“Ruth showed what women could do,” Liz Mitchell, who worked with Ms. Taylor as a production assistant and writer at KNXT-TV in Los Angeles, said in a phone interview. “She could cover small events and huge events — all different subjects — and nothing stopped her.”As one…

In his 40-year career, William Lucas has seen nearly every step in the erosion of the American garment industry. As general manager of Eagle Sportswear, a company in Middlesex, N.C., that cuts, sews and assembles apparel, he hopes to keep what’s left of that industry intact.Mr. Lucas, 59, has invested hundreds of thousands of dollars training his workers to use more efficient techniques that come with financial bonuses to get employees to work faster.But he fears that his investments may be undermined by a U.S. trade rule.The rule, known as de minimis, allows foreign companies to ship goods worth less…