Business Update

Jerome H. Powell is passing the chair’s baton to Kevin M. Warsh at the Federal Reserve, an institution that President Trump’s pick says needs an overhaul. Source link

Critics denounced the highly unusual plan, which has yet to be finalized or approved, as a vast political slush fund financed by taxpayers. Source link

Intel, along with Taiwan and South Korea, are the latest winners, our columnist says. True diversification is hard to find. Source link

A few seconds of selfie awkwardness between Elon Musk and Lei Jun, a prominent Chinese entrepreneur, has spread like wildfire on China’s social media. Source link

President Trump is returning home from Beijing after a two-day summit that achieved a few deals but left investors and analysts underwhelmed. Source link

Despite accelerating inflation and possible interest rate increases, the S&P 500 has posted a long weekly winning streak, driven by strong corporate earnings. Can it last? Source link

Unlike traditional financial aid, the prizes are awarded by random drawings. The websites, in turn, gain access to applicants’ personal information. Source link

On Threads and other sites, liberal-minded Chinese accounts were mocking the proceedings and offering a rare window into opinions on Xi Jinping and his leadership style. Source link

The Trump administration has authorized a test program to see if the cannabis compound can ease some symptoms and reduce health care costs among older patients. Source link

The company said it would close four regional offices and take a $400 million charge related to the changes. Source link