• The biggest cruise lines had a banner 2024 amid booming demand and prices.
• The largest — Royal Caribbean, Norwegian, and Carnival — saw revenue and passenger growth compared to 2023
• Royal Caribbean saw the most growth of all, welcoming some 8.6 million guests on board.

Every cruise line has benefited from booming demand for vacations at sea, but one company is standing — or floating — above the rest of its competitors: Royal Caribbean Group.

Royal Caribbean isn't the largest of the three most well-known cruise operators. It and Norwegian Cruise Line Holdings each oversee three brands, compared to Carnival Corp's eight. As such, in 2025, Carnival is projected to account for 36% of the cruise industry's revenue, followed by Royal Caribbean at 24.8% and Norwegian at 14.1%, according to Cruise Market Watch.

Yet, when it comes to growth from 2023 to 2024 in both revenue and passengers accommodated, Royal Caribbean is the clear winner.

The cruise giant's two competitors saw record revenue in 2024: $25 billion for Carnival (a 15.9% increase from 2023) and $9.5 billion for Norwegian (a 10.9% increase). Similarly, both accommodated about 8% more passengers than the year prior: 13.5 million for Carnival and 2.9 million for Norwegian.

These year-over-year growth spurts are impressive. But they pale compared to Royal Caribbean's 2024 figures: an 18.6% revenue spike to $16.5 billion and a 12% increase in passengers to a record 8.6 million.

It's a sign that the company is increasingly capturing the eager-to-spend cruising market — expected to continue into 2025.

Royal Caribbean started the year with strong bookings and pricing, with plans to debut two new ships and a private resort to further entice potential travelers.

As for demand, "there's no area of weakness," Jason Liberty, the CEO of Royal Caribbean Group, told analysts in late January, a week before it experienced its strongest-ever "wave season" reservation week.

Liberty said its trend-setting private island and two latest and largest cruise ships, Utopia of the Seas and Icon of the Seas, have attracted both first-timers and regulars. Similarly, its cruises in the Caribbean, Alaska, Europe, Asia, Australia, and New Zealand have garnered plenty of demand.

Like Royal Caribbean, Carnival, and Norwegian have seen a boom in bookings and prices for 2025 — despite having more dry dock days than in 2024, which could negatively impact the number of passengers they accommodate. However, all three companies expect to debut more products this year, including new ships (including one of the world's largest from Royal Caribbean) and resorts.

That is to say, expect the entire mass-market cruise industry to sail into yet another banner year.

More consolidation is playing out in the security industry as platform players scoop up technology to give them deeper expertise in growing business areas. On Thursday, Armis, a $4.2 billion specialist in cyber-exposure management, said it would be acquiring Otorio, a specialist in securing industrial and physical environments.  Terms of the deal are not being […]

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As promised, Volkswagen unveiled its upcoming entry-level electric vehicle at an event on Wednesday in Wolfsburg, Germany. The automaker describes the ID.EVERY1 concept car as a "smart, flexible and affordable" EV for the masses… as long as those masses live in Europe. The production version is expected to start at around €20,000 (US$21,583) when it arrives in 2027.

The car joins the ID.2all and sport version of the ID.GTI in using Volkswagen's MEB modular platform, which is designed to be flexible enough to support everything from compact cars like the wee ID.EVERY1 to bulkier SUVs. The company plans to roll out four electric models (including this one) based on the front-wheel drive version of the platform by 2027.

In addition, Volkswagen says the ID.EVERY1 will be its first model to run on a "fundamentally new, particularly powerful software architecture," which sounds like the fruit of its $5 billion partnership with Rivian, announced last year. The automaker describes the (unconfirmed but probably Rivian-based) platform as making the concept car more future-proof, allowing it to be "equipped with new functions throughout its entire life cycle."

Volkswagen

As a budget EV, its specs won't make your jaw drop but could still hit a nice balance point for price-conscious buyers. The concept car can reach over 80 mph (130 km/h), thanks to its 70 kW (94 horsepower) electric drive motor. Volkswagen rates it for a range of at least 155 miles (250 km). The compact EV is a mere 12.7 ft. long, placing it between the automaker's now-retired up! (11.8 ft.) and the ID.2all (13.3 ft.). The ID.EVERY1 has room for four and a cargo volume of 10.8 cubic feet.

As for its cute appearance, Volkswagen Head of Design Andreas Mindt said, "Our ambition was to create something bold yet accessible. The ID. EVERY1 has a self-assured appearance but remains likeable – thanks to details such as the dynamic front lights and the 'smiling' rear. These design elements make it more than just a car: they give it character and an identity that people can relate to."

If this sounds like the budget car of your dreams, well, you'd better live in Europe, or you're probably out of luck. Volkswagen describes the ID.EVERY1 as being "from Europe for Europe," which sure doesn't like it translates to America-bound.

You can get a better look for yourself in the gallery below.

Volvo has officially launched the ES90, the fully electrified version of its S60 sedan. While the vehicle can technically be considered a sedan, Volvo says it has the "adaptability of a fastback, and the spacious interior and higher ground clearance associated with SUVs." It's the first Volvo EV with an 800-volt system, which promises faster charging times. Since Volvo's 800-volt technology uses lighter components to reduce the vehicle's overall weight, it could also lead to a longer range and better acceleration. 

For the ES90, specifically, Volvo promises a driving range of 700 kilometers or 435 miles, though the official EPA range could be shorter. When plugged into a 350 kW fast charger, the model can add 300 kilometers (186 miles) of range in just 10 minutes, and its 106 kWh battery can go from 10 to 80 percent full in just 20 minutes. All the vehicle's variants have a top speed of 112 mph, but the Twin Motor Performance (all-wheel drive) version has the fastest acceleration and can go from 0 to 60 mph in 3.9 seconds.

The ES90 was built on top of the Volvo Cars Superset tech stack, just like the EX90 SUV. That's a single set of hardware and software that will serve as the base for all of Volvo's electric vehicles and will make it possible to simultaneously roll out over-the-air updates for all its EVs as needed. ES90, however, is the first Volvo model to be powered by dual NVIDIA DRIVE AGX Orin configuration, which the company's chief engineering and technology officer says makes it the "most powerful car [Volvo has] ever created in terms of core computing capacity." 

Volvo gave the ES90 a slightly raised ride height and its Thor's Hammer headlight design, along with its new C-shaped LED rear lamps. It also equipped the vehicle with an array of sensors that include one lidar, five radars, seven cameras and twelve ultrasonic sensors for its active safety systems that can help drivers avoid collision and hazards. Inside, owners can individually fold down its three rear seats for more space. And while the panoramic roof provides 99.9 percent UV protection, buyers can choose the electrochromic version that will allow them to darken the glass and reduce glare at the touch of a button. Owners can access the model's infotainment system on its 14.5-inch center screen display, which comes with built-in Google apps, including Maps and Assistant. 

Interested buyers can now order the ES90 in Austria, Belgium, the Czech Republic, Finland, France, Germany, Greece, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom. Volvo will release it in more markets later this year and into 2026. 

Volvo

• Wu Zhixun left his hometown and his job at a local bank to spend his 20s pursuing an acting career in Beijing.
• He entered his 30s ready for a career change and noticed Beijing lacked the flavors of his hometown.
• One year after opening his restaurant, Wu, now 31, says he has made back his initial investment.

Wu Zhixun stumbled into acting by accident when he was a young adult. Years later, a similarly unexpected turn of events led him to open — and become the face of — a popular restaurant in Beijing.

In 2013, the sporting brand Li Ning was sponsoring university basketball games across China. They chose Wu to appear in an ad. Soon after, people started recognizing him on the streets of Yunnan, the southern Chinese province, where he'd grown up.

After graduating, he got hired by a local bank, but six months in, a video-streaming company asked him to appear on a reality TV show in which he'd be cooking for celebrities.

"I thought it was a scam at first," he told Business Insider. But they offered to buy him a flight to Beijing, 1,500 miles northeast of Yunnan, so he quit his job and dove into the world of acting and television.

Career shift into F&B

Over a seven-year acting career, Wu appeared in three TV shows and a Huawei campaign.

In 2017, after his mother was diagnosed with breast cancer, he returned to Yunnan for a year and a half to spend time with her.

While he was back home, he invested money into two F&B ventures, neither of which panned out.

The first was a snack shop. Wu and three partners each invested 100,000 yuan into the shop, which sold chicken feet, rice noodles, and mango rice. The shop shuttered after six months.

Next, he invested 50,000 yuan in a Japanese restaurant. Within three months, the restaurant closed. Looking back, he said he could see the problems were with the location and the management.

The restaurant was tucked away on the second floor of an office building, and no one on the management team had any experience running a kitchen. They didn't know how many ingredients to order, and they often sold out of popular dishes before the end of the day.

Bringing the taste of home to Beijing

At the end of 2018, Wu moved back to Beijing. Within a couple of years, he met his partner, and they started discussing the idea of starting a family.

He wanted more career stability and was tired of being an actor. "You're always waiting to be chosen," he said.

While living in Beijing, he spotted a market opportunity to serve authentic Yunnan food.

"Yunnan flavors are textured," he said. "There are sour, fragrant, numbing, spicy notes, and these are all from natural plants."

Restaurants in Beijing just weren't getting the flavors right — so he decided to launch his third F&B venture.

He needed money for the initial investment, so he sold an apartment his mother had given him and invested 600,000 yuan into the restaurant.

His mother was against the idea of him selling. "My mom needs to know something will have a 100% success rate before she'll do it," he said.

Hands-on management

It's been almost two years since Wu, now 31, began planning his restaurant, Yican, or Can Bistro in English. He works with a business partner, Qu Fei, who invested an additional 400,000 yuan into the business.

Learning from his previous business failure, Wu knew he wanted to open the restaurant in a busy area. He chose a commercial business park in southeast Beijing, near Sihuidong station.

They hired Yunnan chefs and slowly renovated a space that had previously been a clothing store.

The restaurant has been open for about a year. When BI visited the restaurant in early February, all 10 tables were full by noon.

Can Bistro is a dog-friendly restaurant, and a Bichon Frisé and a Schnauzer were among the guests. Diners sat on rattan chairs, eating from speckled black ceramic dishes. Steaming bowls of sour papaya fish, spicy beef, stewed chicken, and crispy tofu covered the wooden tables. Some guests washed down their meals with Asahi beer and natural wine from Yunnan.

A meal for four typically includes around six dishes. The stewed chicken, 68 yuan, has become popular. The potatoes fall apart, and the meat is perfectly tender. The sour bamboo shoots and water spinach dish is an uncommon combination in Beijing, but popular among the Dai ethnic minority in Yunnan.

Beijing's changing food scene

Over the past five years, Beijing's food scene has seen waves of restaurants open and close. "Ninety percent of bistros close in their first year," Fiona Wu, a sales professional working in Beijing's lifestyle industry, told BI.

In order to make it in the Beijing market, Fiona said restaurants need to be popular "from the beginning."

And that's where it came full circle for Wu.

"It was about looks at first," Fiona said of Can Bistro's popularity. "The look of the place, the restaurant decor, and the bosses' being handsome, attracted users on RedNote," she said, referencing the popular Chinese social media app.

Shortly after opening, Wu's marketing team posted a series of candid photos of its owners on the Chinese social media app. The photos had captions like, "Not drinking coffee unless a hot guy has made it for me." Wu said that people who saw the restaurant online began to come in person.

"Without that marketing campaign, they wouldn't have gotten so much footfall in the beginning," Fiona said.

One year after opening, Wu said he and Di have made back their initial investment. Wu said that in the summer, lines often form outside the restaurant.

Running the restaurant has meant both Wu and his business partner have had to learn each other's way of doing things.

Wu says he's happier now. He visits the restaurant every day — and still has time to play basketball twice a week.

"It's a world away from when I was at the bank."

The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a series of dismissals from this department under President Donald Trump's administration. The agency had only just announced the suit — filed against Zelle's operating entity Early Warning Services and partner banks JPMorgan Chase, Bank of America and Wells Fargo – in December. According to the initial action, the CFPB said that customers of the three banks had lost more than $870 million during the seven years Zelle has been active.

A spokesperson for Zelle said the company welcomed the CFPB’s decision, and reiterated that it believes the lawsuit was “without merit, and legally and factually flawed.” A JPMorgan Chase representative called scam prevention and consumer education “a national security problem” and stated the bank’s commitment to working "across the public and private sectors" toward solutions.

The CFPB made several moves to increase oversight on the financial products offered by tech companies under its previous director, Rohit Chopra. However, the agency is now overseen by Acting Director Russell Vought, who ordered the CFPB to cease all "supervision and examination activity" last month. While employees of the bureau have sued to try to keep the CFPB alive, there have been conflicting messages from government leadership about the agency's status.

Since taking office, Trump and ally Elon Musk have taken sweeping actions to control and close federal government departments. Agencies that have historically regulated Musk's business activities have been among those with reduced powers, as have federal operations for cybersecurity, digital services and personnel management.

Update, March 5, 2025, 4:41PM ET: Added official statements from Zelle and JPMorgan Chase.

• The European Union announced plans to boost defense spending amid rising security concerns on the continent.
• The plan follows reports that President Donald Trump has paused US military aid to Ukraine.
• The EU strategy includes loans and spending flexibility, but doesn't mention production capacity issues.

The European Union unveiled a plan on Tuesday to boost member states' defense spending amid an "era of rearmament."

The ReArm Europe plan could unlock 800 billion euros (about $840 billion) in funds, said European Commission president Ursula von der Leyen.

The announcement followed reports late Monday that President Donald Trump had ordered a pause in US military aid to Ukraine after a fiery Oval Office meeting with President Volodymyr Zelenskyy.

European leaders met in London on Sunday for an emergency summit on Ukraine. Many defense commentators believe it will be difficult for European states to fill the US-sized gap in military support.

The EU plan focuses on ways to help member states unlock funding for defense spending, for both the "immediate" defense of Ukraine and in the long term, von der Leyen said.

They include suspending the Excessive Deficit Procedure — a mechanism that normally prevents member states from going into major deficits.

Low-cost loans worth 150 billion euros will be available to let governments "pool demand" and jointly purchase air and missile defense and artillery systems, missiles and ammunition drones and anti-drone systems, as well as cyber capabilities.

"The question is no longer whether Europe's security is threatened in a very real way, or whether Europe should shoulder more of the responsibility for its own security," von der Leyen said. "In truth, we have long known the answers to those questions."

The plans did not address the EU's defense production capacity, or the question of seizing frozen Russian assets worth more than $200 billion. Some European leaders are warming to the idea to help defend Ukraine.

Before a new car comes to market, it's subjected to many months, sometimes years, of rigorous testing around the world. Sweden often hosts a big part of that journey, its cold northern expanses offering the perfect mix of frigid temperatures and frozen surfaces.

It's there that I myself got to do a little testing of an upcoming new EV from Mercedes-Benz. It's the GLC with EQ Technology, an all-electric version of one of the company's most popular SUVs. With new batteries, new motors and a higher-voltage charging system, it marks a significant departure from, and upgrade over, the company's current EV offerings like the EQE SUV.

But could it be better to drive? That's the question that brought me to Sweden. I'm generally quite comfortable driving on the ice and snow. I've certainly been doing it long enough, living in the northeast my entire life and ice racing for the last 20 years. But, put me behind the wheel of a priceless, hand-built prototype and I'll usually take a few extra minutes before I start to really push things.

Not so when I got behind the steering wheel of the electric GLC SUV. Within 30 seconds, I had my foot flat to the floor, and I, along with a wide-eyed development engineer, were flying down an ice-covered trail bisecting a birch tree stand.

Andre Tillmann on behalf of Mercedes-Benz AG

That's how good the new GLC's traction and stability control systems are. Where most cars will simply cut all the power in a slippery situation like that, especially practical-minded ones like a typical crossover SUV, the GLC was far more giving. When the grip was low over sections of dark, glassy ice, the system reduced the power application and kept me from making a big, expensive dent in a snowbank.

When the grip was there, though, the GLC quickly ramped back up to maximum acceleration, relying on the power of its dual electric motors and all-wheel drive to keep us tracking smoothly and cleanly between the trees. Those motors and the smarts that control them are all part of Mercedes-Benz's new platform, MB.EA. These are permanent magnet type motors, with the front one featuring a physical disconnect to reduce its drag when it's not needed.

The car also features a new heat pump that’s able to absorb thermal energy from the ambient air as well as the car's various internal systems. Mercedes engineers said it will warm the cabin twice as fast using half the energy as their current EVs. Indeed, the interior in the GLC was quite cozy despite temperatures well below freezing.

Unfortunately, I can't comment on the vehicle's range in those conditions. This is just a pre-production prototype, after all. Still, I'm expecting a substantial improvement over the 307 miles the EQE SUV can manage on a charge. The batteries in the GLC rely on a revised chemistry, said to reduce the reliance on troublesome cobalt while also increasing energy density. That means more miles per pound of battery.

Andre Tillmann on behalf of Mercedes-Benz AG

Another thing helping to extend range is a revised regenerative braking system. The GLC will feature multiple different rates of regen, including a one-pedal mode that will bring the SUV to a complete stop. When you do go for the brake pedal, though, you might notice it feels a little weird.

That's because stepping on the pedal doesn't really do anything. Similar to a sim-racing pedal set, the resistance here is simulated. You're not feeling a hydraulic system squeezing pistons, just springs compressing.

It's a different sensation, but not a bad one. The idea is that the car will give you a steady, consistent feel regardless of what you're doing or how you're driving. The car itself will determine how much of your desired deceleration can come from the regenerative power of the electric motors. When it needs more than they can provide, it seamlessly calls in the physical brakes for reinforcement.

In practice, it works brilliantly. The car stops smoothly and cleanly, and there's none of the occasional uneven braking that you get when stomping hard on the stop pedal in an EV. The lack of pedal feedback when ABS engages is a bit disappointing, but then I've heard that pulse causes some people to lift off the brake pedal, so perhaps it's for the best.

Andre Tillmann on behalf of Mercedes-Benz AG

When stomping on the other pedal, again, the GLC accelerates strongly. It's quick enough to keep performance-minded drivers entertained. Still, given the low-grip nature of the roads and trails I covered, I can't say just how competent a handler it will be.

I can say that the optional air suspension did a sublime job over truly terrible road conditions. Ruts, washboards, frost heaves, you name it, the car happily soaked it up, even raising the suspension by an inch when some deeper snow and ice necessitated a little more ground clearance. On smoother roads, the GLC was every bit the quiet limousine that you want a luxury EV to be. There was a bit of road noise from the aggressively treaded snow tires, but this thing should be a delightful cruiser on normal tires.

The only problem? We'll have to be patient. The GLC is set to make its formal debut in Germany in September, which means it likely won't enter production until well into 2026. Mercedes-Benz hasn't set a price for the electric GLC yet either. Given the state of the world right now, it's anyone's guess what the incentive/tariff situation will look like for foreign EVs, even those built in the US like Mercedes-Benz's current EQS SUV.

If it's priced right, though, and if it doesn't look too awful once those camouflage stickers and taped-on protrusions are removed, it should be a winner. I already can't wait for another go behind the wheel and another chance to get even more comfortable.

• Jack Bishop, 81, continues to run his seafood buffet in Florida and has no plans to retire.
• Bishop has run restaurants since the early 1970s, some of which have survived hurricanes.
• Despite financial security, Bishop said he works to keep his mind alive and maintain connections.

Jack Bishop, 81, still places huge orders of crab legs for his seafood buffet in Florida — and isn't planning to stop anytime soon.

Bishop, who runs two restaurants in Panama City Beach, has worked in the restaurant industry since he was a teenager, operating several businesses and amassing a seven-figure net worth. Even though he could retire comfortably, Bishop said he wouldn't know how to spend his retirement years after many decades running his businesses.

Bishop said he's working into his 80s to "keep my mind alive" and continue pursuing his passion, more than six decades after his first dishwashing job. He said he's been so integrated into the community, served countless customers, and helped so many younger people get ahead in life that he wouldn't retire unless he physically couldn't anymore.

Do you have a story to share about working into your later years? Please fill out this quick Google Form.

Bishop is one of a few dozen older Americans who told Business Insider in recent months that they chose not to retire even when they have the financial means to. Some said work gives their life greater purpose, while others said their social life is healthier while at the office. Most said the added financial security has made them confident they could more easily get through periods of unexpected financial stress.

Humble beginnings

Bishop, a Michigan native, worked as a dishwasher as one of his first jobs and learned butchering techniques from his father. He got a college degree and enlisted in the Air Force after college, serving during the Vietnam War. He was stationed at Tyndall Air Force Base in Panama City, Florida, getting paid $86 monthly — not enough to cover his car payment.

After four and a half years of service, he borrowed some money to open a restaurant with built-in space for live entertainment with two partners in 1971. He ran the business for about 40 years before it closed over a decade ago.

The area wasn't too touristy outside the summer months, and he opened a second nightclub around that time to generate additional income in the slower seasons. He described his business as a nightclub with food options later in the evening. He said the business peaked at about half a million dollars in profit annually but has since closed.

Some of these previous businesses also survived two hurricanes and a fire, and he received thousands in FEMA funds to help rebuild.

By the 2000s, tourism rapidly grew in the area, and he became more involved with the local community to build tourism opportunities. He noticed hundreds of rental units built each year, which he said has helped his businesses stay afloat in the winter.

Bishop opened a few other restaurants in the area, including Capt. Jack's Family Buffet in 2000, which has two locations and is the remaining business he runs. However, instead of working on the floor, he took a more administrative role after hiring more managers for the day-to-day tasks.

"My plan was to be retired at 55, but I felt like I was in my prime, and we were doing great," Bishop said. He added that he took his $4,000 monthly Social Security checks at 70.

Few vacations and long days

Bishop, a father of two, said he often sacrificed vacations for his businesses.

"It's a tough life because you always work on holidays and weekends," Bishop said. He added, "I didn't travel either because when you're in the restaurant business, you're 365, 24/7."

However, he's taken joy in training high school and college students. He paid his core employees for the months the business was closed outside the peak tourist season, which he said cut back on his turnover rate. His son, who started working at his restaurants as a busboy when he was 12, is now a general manager of one of his restaurants.

"I have people today who have worked for me for 35 years," Bishop said. "At one time, we used to do a million dollars in the month of March, and it was 57% net," referring to the business' profits.

Bishop said he's worth a few million dollars, though he doesn't spend much of it. He said he gets bored easily and rarely takes vacations. He didn't completely shy away from luxury, as he owned boats and an RV, though he said life has otherwise been modest.

Though he's not working the floor, he still purchases food for the buffet, totaling about $5 million yearly. He said his connections to many restaurant providers and community members are why he hasn't retired.

"I still work with Excel and PowerPoint, and I'm fairly computer-literate for an 80-year-old guy," Bishop said. "We have more tools today, and if you really know what you're doing, you almost can't fail."

New releases we picked up this week that belong on your reading list.

• Luxury hospitality companies have been expanding into the cruise industry.
• Four Seasons, Aman, and Orient Express have all announced plans to debut luxury ships.
• This article is part of "Well Charted," a series for travelers planning cruise adventures.

Luxury hotel brands are cashing in on the cruise boom and introducing wealthy travelers to their take on floating resorts — complete with helipads, 10,000-square-foot suites, and dinners crafted by Michelin-starred restaurant chefs.

Four Seasons, Aman, and Orient Express plan to launch cruise ships (or "yachts," as they prefer to call them) as early as 2026. By then, Ritz-Carlton is expected to have already debuted its third vessel.

Despite this nascent frenzy, the hotel-to-cruise pipeline is nothing new. Just look at Virgin, which has found success with its nine hotels and three (soon to be four) ships. Or Margaritaville, which launched its second vessel last year.

Unlike Richard Branson's and Jimmy Buffett's vacation-at-sea companies, these industry newcomers cater to travelers who are loyal to the brands' popular hotels and enjoy niceties such as high-touch service and butlers.

Take a look at new and coming yacht offerings from Ritz-Carlton, Four Seasons, and other luxury hotel brands:

The Ritz-Carlton Yacht Collection

Ritz-Carlton kicked off the craze for luxury-hotel-owned cruises with the launch of its 624-foot-long Evrima in 2022.

It was a triumphant test for the business model, with few availabilities during its first year in service.

It's easy to see why. Evrima offers a transverse marina that opens onto the water, an infinity pool, a cigar lounge, and an almost one-to-one guest-to-staff ratio. Its five eateries include a European-inspired tasting menu for a fee. The menu was designed by the chef of Aqua, a restaurant with three Michelin stars in Ritz-Carlton's Wolfsburg, Germany, hotel.

The smallest of its 149 cabins is 317 square feet, while the most spacious is over five times as large. All have terraces, a double-vanity bathroom, and a butler.

Following Evrima's success, the luxury cruise line debuted a second, larger ship, Ilma, last year. A third vessel, Luminara, is expected to sail in July.

Voyages start at $3,100 a person for three nights on Ilma.

Four Seasons I

Like Ritz-Carlton, Four Seasons hopes its loyal fan base will follow it to sea aboard Four Seasons I, scheduled to debut in January.

When it does, the 679-foot-long vessel could set sail as one of the cruise industry's most luxurious options.

Renderings show a sleek, modern interior with 11 restaurants and a transverse marina, or an outdoor lounge with water access and water toys for guests. It's set to have 95 suites, each with a walk-in closet, a terrace, and floor-to-ceiling windows, while the 9,975-square-foot Funnel Suite, the largest, is designed with three bedrooms, a private pool and elevator, and staff like au pairs and security personnel.

Cabins start at $17,300 for a five-night round-trip voyage starting in Miami.

Breakfast will be complimentary — lunch, dinner, and booze won't. The soon-to-be cruise line suggests setting aside about $250 a person per day for food and drinks.

Alejandro Reynal, Four Seasons' CEO, told Business Insider late last year that reservations had been "very successful," with about two-thirds coming from previous guests. "People were very favorable for us to pursue a Four Seasons experience at sea," he added.

The company tapped Fincantieri to build the 34,000-gross-ton vessel. The famed Italian shipbuilder has also been hired to construct Four Seasons' second ship, expected to debut in 2026.

Aman at Sea

"We are led by the demand of our guests, who often call for us to expand into certain categories," Ben Trodd, Aman's chief operating officer, told BI in an email in late 2024.

In this case, the category is cruising.

Aman, a buzzy ultraluxury hotel group, already offers vacations aboard Amandira, a five-cabin yacht. Its next floating resort, debuting in 2027, is set to operate more like a traditional 600-foot-long cruise with 10 times as many suites.

Its builder, Italy's T. Mariotti, says guests can expect a spa with a Japanese garden, two helipads, a lounge, and a transverse-marina-like "beach club." Planned dining options include international and informal eateries.

No word yet on the ship's name, pricing, or itineraries.

Orient Express

The historic Orient Express is planning a comeback with the springtime launch of its luxury train and hotel.

Come June 2026, the company also plans to expand into the vacation-at-sea industry with its first ship, the 721-foot-long Orient Express Corinthian.

Orient Express says the vessel will travel the Mediterranean, Adriatic, and Caribbean seas with help from 48,437-square-foot sails. (The company says Corinthian will be the world's largest sailing yacht.)

Expect spacious accommodations — with 54 suites ranging from 505 to 10,255 square feet — and amenities like a movie theater, a recording studio, a transverse marina, and five restaurants. Plus, eight bars and lounges, one with a 1930s speakeasy flair and a 115-seat cabaret with a Parisian art deco theme.

The company's second ship, Orient Express Olympian, is set to debut a year later. The famed French shipbuilder Chantiers de l'Atlantique plans to build both vessels.

VidantaWorld

Grupo Vidanta's high-end resorts and golf courses dot Mexico's warm coastline.

Soon, it could head offshore and out to sea with its first cruise ship, set to be adults only — but not without delays.

The Mexican hospitality company recently postponed the launch of its 500-foot-long VidantaWorld's Elegant by a year to 2026, a spokesperson told BI.

When it does set sail, VidantaWorld says its first vessel will welcome guests with three pools, 13 restaurants and bars, and an almost one-to-one crew-to-guest ratio. Cabins are set to start at 139 square feet, but only the suites (which start at about double the size) are planned to have balconies.

Norma Suarez, the ship's director of operations, told BI in an email in late 2024 that a seven-night voyage starts at $12,500 a person. The buffet, she added, will be the only complimentary food option.

The FDA has granted clearance to a potentially lifesaving feature for Google's Pixel Watch 3. The smartwatch will start offering "loss of pulse detection" for US customers at the end of March. Once this aspect of the watch is enabled, the Pixel Watch 3 can automatically place a call to emergency services if it detects that the wearer's pulse has stopped. That could help a user receive critical medical attention even if they are responsive in situations such as cardiac arrest, respiratory or circulatory failure, overdose or poisoning.

Loss of pulse detection was announced last year and is already available to Pixel Watch 3 owners in select EU markets. We luckily didn't have cause to put the feature through its paces in our positive review of the wearable, which particularly impressed on battery life, brightness options and workout detection. 

Smartwatch manufacturers have been developing a suite of tools designed to assist wearers in different kinds of potentially life-threatening situations. For instance, the Pixel Watch 3 also offers features such as a safety check that shares your location with a chosen contact, fall detection that alerts first responders and car crash detection that notifies emergency services. Apple also introduced similar features for the iPhone and Apple Watch a few years ago.

• The ailing German economy is a key concern for voters in Sunday's elections.
• Germany's reliance on Russian gas, rising Chinese competition, and lack of spending have hit growth.
• The government easing its "debt brake" and boosting spending could revive its economy, analysts say.

Germany's federal election this Sunday will be the latest European political race to pit establishment parties against populist upstarts, most notably the Christian Democratic Union (CDU) and its coalition partners against the Alternative für Deutschland (AFD), which counts Elon Musk among its fans.

The beleaguered German economy is bound to be a central issue. Friedrich Merz, the CDU leader expected to become chancellor, has campaigned on cutting taxes, red tape, and energy costs to deliver an economic renaissance.

Here's how Germany got to this point, the problems plaguing its economy — and how they could be solved.

Rise and decline

Germany rebuilt its economy after World War II to become a manufacturing powerhouse, building and exporting goods such as industrial machinery and high-end cars.

It has just under 84 million people and ranks as the world's third-largest economy, with a GDP of $4.7 trillion. That's behind the US at $29.2 trillion and China at $18.3 trillion, according to International Monetary Fund estimates for 2024. Germany's economy is bigger than of Japan at $4.1 trillion, the United Kingdom at $3.6 trillion, and France at $3.2 trillion.

However, the German economy contracted in 2023 and 2024 while all those peers grew, with the exception of Japan last year, and is set to lag behind its peers once again in 2025. The IMF forecasts 0.3% growth in real GDP this year, compared to 2.7% for the US, 4.6% for China, 1.1% for Japan, 1.6% for the UK, and 0.8% for France.

A key driver of Germany's slowdown is weakness in its core economic activities. Industrial output has tanked more than 10% since 2019, and about 350,000 manufacturing jobs have been lost over the same period, government data shows.

Auto giant Volkswagen, chemicals behemoth BASF, and steel and industrial goods titan Thyssenkrupp have shed more than $50 billion or about a third of their market value in the past five years, as investors have soured on German industry.

Myriad signs of economic decline are "fueling the sense that Germany's best days are behind it," Stefan Koopman, a senior macro strategist at Rabobank, said in a report this week.

The far-right AfD "capitalizes on this anxiety, blending restorationist rhetoric with extremist elements" and "channels economic and migration concerns into a broader narrative of national decline," he added.

In December Elon Musk said on X that "only the AfD can save Germany" — and has since posted about the party dozens of times, as well as interviewing its leader, Alice Weidel, on his social media platform.

Eggs in Russia's basket

Germany's past energy policies are key to explaining its economic pains.

For decades, Europe's biggest economy relied on cheap Russian gas to manufacture everything from steel to chemicals for export. However, Russia's invasion of Ukraine in early 2022 caused energy prices to soar.

German officials also moved to punish Russia by reducing imports of its oil and depending on more expensive liquefied natural gas (LNG) and renewable sources instead, which eroded their country's appeal to some foreign businesses.

Moreover, authorities began shuttering the country's nuclear power plants in 2011 after the Fukushima disaster in Japan, closing the final three in 2023. That decision made Germany even more reliant on Russian energy, making the weaning process even more painful.

From customer to competitor

Until about 10 years ago, German manufacturers saw China as a huge export market.

But since then, China has become much more of a competitor to Germany as it has ramped up exports of rival products including steel, machinery, solar panels, and electric vehicles.

Cheaper production costs and looser regulations in China have also led numerous German businesses to shift at least part of their operations there.

Germany has topped the UN's ranking of industrial competitiveness for 20 consecutive years, but China has jumped from 33rd to second place in the rankings over the same period, underscoring the threat it poses.

Frugal to a fault

German authorities have underinvested in areas such as energy, education, security, and infrastructure for years, which has weighed on national productivity and competitiveness.

A key reason is a constitutional "debt brake," imposed after the 2008 financial crisis, which limits the federal government's deficit to 0.35% of GDP. For comparison, the US deficit exceeded 6% last year.

"This policy is a handbrake on Germany's ability to support its economy and incongruous with policy in the rest of the world," Alison Savas, the investment director of Antipodes Partners, said in an emailed note.

Relaxing its spending constraints would allow Germany to stimulate its economy, meet the "pressing need" to invest in its public infrastructure, and satisfy likely demands for greater defense spending from the Trump administration, she added.

Nobel-winning economist Paul Krugman wrote on Substack that Germany's "obsession" with controlling its debt has meant it's gone from "role model to cautionary tale — a warning about the costs of rigid thinking."

Diagnosing the problem

Germany faces other challenges, including a shrinking workforce and aging population, a shortage of skilled workers, a lack of affordable childcare, and frustrating levels of bureaucracy.

Its myriad issues are "symptoms of a deeper malaise: chronically weak domestic demand," Koopman said in his report. The German economy "parasitized on foreign demand to sustain its own existence," he continued, adding that it's been shored up for decades by other countries' consumption, investment, and spending on security and stability.

The remedy might be large-scale government spending on everything from energy and defense to education, infrastructure, and technology, Koopman added.

"Cutting taxes, cutting red tape and/or or cutting costs won't be enough to cut it," he said, warning that if Germany fails to ramp up its spending, it "risks becoming a 'has been' in the global economy."

• Ukraine says it is launching a new supply model to get drones to troops faster.
• Its defense minister said the system would reduce delivery times from months to weeks.
• Ukraine has ramped up its domestic drone production since the start of the war.

Ukraine is launching a new drone supply model that aims to reduce delivery times to troops from months to weeks.

Rustem Umerov, the Ukrainian defense minister, announced the new system in a Facebook post on Thursday after meeting with representatives from Ukrainian drone manufacturers.

The new model is designed to facilitate the "fast and uninterrupted supply of the best UAVs for our soldiers," Umerov said.

As well as reducing delivery times, the system will help support manufacturers by giving them advanced orders, meaning they can plan production scaling, he added.

It is based on the DOT-Chain supply management system, which Ukraine first introduced in September as part of a push to digitize and streamline the process of supplying the military.

It's not the first time Kyiv has tried to smooth the process of drone acquisition for its troops.

The Ukrainian defense ministry announced in January that its armed forces would receive an additional UAH 2.5 billion (around $60 million) a month to procure new drones, in a move designed to reduce brigades' reliance on centralized acquisition efforts and allow them to purchase the equipment they need directly.

Drone warfare has been at the core of the conflict in Ukraine since Moscow launched its full-scale invasion in February 2022, with both sides using the evolving technology to devastating effect.

The relatively cheap yet highly effective devices have proven to be so popular that Ukraine has significantly ramped up production efforts since the war broke out.

Ukrainian President Volodymyr Zelenskyy said in October that Ukraine was capable of producing 4 million drones a year and that Kyiv had contracted 1.5 million so far in 2024. In a Facebook post, Umerov said more than 200,000 drones were delivered to Ukrainian soldiers in December alone.

The country's burgeoning industry has led some to believe that drones could play a role in Ukraine's postwar economic recovery and help it become a key player in the international defense market.

FIRST ON FOX: President Donald Trump’s tariffs will be a boon for an Ohio-based steel mill and its employees, the CEO of JSW Steel USA, a subsidiary of a massive India-based steel manufacturer, told Fox News Digital in an exclusive interview. 

"It's a good piece of the formula that results in our company increasing utilization in the next 12 months, from 68% to probably 84%, and beyond that in years to come. So it's a very exciting time for us," JSW Steel USA CEO Robert Simon told Fox News Digital of Trump’s tariff plan in a phone interview on Thursday evening. 

Simon has served as the CEO of JSW Steel USA since March of last year, bringing with him more than 30 years of experience in the steel industry. He spoke to Fox News Digital following Trump announcing his administration’s "fair and reciprocal plan on trade," which he celebrated during a press conference as a project that will flood the U.S. with jobs as trading partners move their industries to U.S. soil to avoid tariffs. 

JSW USA is a subsidiary of Mumbai-headquartered JSW Group, which owns India’s second-largest private steel company, JSW Steel. JSW USA has two steel locations in the U.S., one at Mingo Junction, Ohio, and another operation in Baytown, Texas. 

TRUMP DETAILS HIS RECIPROCAL TARIFF PLANS, ASKS FOREIGN COUNTRIES TO 'TREAT US FAIRLY': 'DELIVER RECIPROCITY'

Simon told Fox News Digital that across his more than 30 years in the industry, U.S. steel manufacturers have complied with strict environmental and safety practices, and paid their employees fairly, while foreign steel manufacturers could skirt U.S. regulations while exporting their goods to the U.S. 

"We, as steel producers, we paid our employees fair wages, treated them fairly, met some of the most – if not the most strict – environmental requirements in the world, and those practices in our markets, with the simple supply-demand equation establishes market pricing."

"The frustration is, how is it fair that others that don't treat their employees the same way, don't follow the same rules, don't follow environmental practices… they get government subsidies. How is it fair that they can come into our markets and take market share when it's not an equal playing field?" he said. 

Simon said the Ohio plant alone will likely see a minimum increase of 100 jobs in the next year under Trump’s tariff plan. 

"As you look at that increase in utilization coupled with the overall increase in production that we foresee in the next three to five years, we estimate, at a minimum, a 100 jobs increase in the next 12 plus months associated with that utilization rate increase," he said. 

WHO GETS HIT HARDEST BY STEEL AND ALUMINUM TARIFFS?

Trump's administration issued a fact sheet last week restoring a 25% tariff on steel, which detailed "domestic steel and aluminum industries and achieving sustainable capacity utilization of at least 80%." JSW Steel USA told Fox News Digital that they are already on track to increase their utilization rate from 68% to 84% – higher than Trump’s target number of 80%. 

Under the first Trump administration, JSW Steel USA notably sued the federal government in 2019 over tariffs regarding imported steel-slab materials. The company now makes all domestic steel-slab materials as part of the JSW Group’s belief that its facilities both make products and supply the product in the communities they serve.

Simon celebrated in his comments to Fox Digital that Ohio families that had long worked in the steel industry are making a return to the factory as the industry reinvigorates under the first and second Trump administrations. JSW USA purchased the Ohio factory in 2018, after it had operated as a Wheeling-Pittsburgh Steel plant, but sat dormant for years. 

TRUMP ADVISOR TEASES NEW ‘GOLDEN AGE’ OF U.S. STEEL AND ALUMINUM

"This is a company that had been shut down for over seven years, when we acquired it. We hired a workforce, trained a workforce, all from the local area. What's really cool to see is we've got employees whose grandparents and great-grandparents worked in this same company, which ended up being shut down, and they're part now of reviving that company and bringing it to an offering of products that's extremely competitive and extremely impressive in terms of its value added products," Simon said. 

Trump announced a reciprocal tariff plan on Thursday, tapping Howard Lutnick, his nominee for commerce secretary, to produce a report on reciprocal trade relations within 180 days. Lutnik said Thursday that he will have the report ready for Trump by April 1. 

WHAT ARE TARIFFS, HOW DO THEY WORK AND WHO PAYS FOR THEM?

​​"On trade, I have decided for purposes of fairness, that I will charge a reciprocal tariff – meaning whatever countries charge the United States of America, we will charge them no more, no less. In other words, they charge us a tax or tariff and we charge them the exact same tax or tariff. Very simple," he said at the White House on Thursday. 

Trump touted that the plan will lead to a job boon in the U.S. as foreign trading partners move operations stateside to avoid the reciprocal tariffs. 

"They can build a factory here, a plant or whatever it may be, here," Trump said Thursday afternoon from the Oval Office. "And that includes the medical, that includes cars, that includes chips and semiconductors. That includes everything. If you build here, you have no tariffs whatsoever. And I think that's what's going to happen. I think our country is going to be flooded with jobs."

Simon told Fox News Digital that Trump's business and deal-making abilities are "obvious to everybody" as he whips through dozens of executive actions and orders in just a few weeks back in the Oval Office, remarking that it's "pretty amazing." 

"It's become obvious to everybody that Mr. Trump is not a politician, right, but, more of a business person stepping in and leading our country, from much more of a business perspective than as a career politician. Like it or not, for those folks that have different opinions, this results in very quick negotiations. I don't think I've ever in my time here seen so much movement, so much decision-making, so many decisions being made in this shorter period of time since he's been in office. It's pretty, pretty amazing," he said. 

Trump also met with Indian Prime Minister Narendra Modi on Thursday, and the two discussed trade, the economic relationship between India and the United States and military sales. The pair also "committed to drive opportunities for U.S. and Indian companies to make greenfield investments in high-value industries in each other’s countries," including naming JSW’s operations at Texas and Ohio as a prime ongoing investment in the U.S., according to a joint statement from the two nations. 

"The steel tariffs enacted by President Trump are a necessary step in leveling the playing field for American steelworkers and manufacturers. Foreign competitors fail to protect their workforce at the same safety standards, do not compensate them fairly, and produce steel that contributes to environmental degradation, all the while, seeking to flood the U.S. market, taking advantage of our strong economy, driving a collapse of our markets in the process," Simon added in comment provided to Fox Digital.

• Arms industries could drive Ukraine's postwar economic recovery, its former foreign minister told BI.
• Dmytro Kuleba said Ukraine could tap into military tech and utilize it in its private sector.
• Ukraine could face new challenges whenever the war ends, stifling economic growth.

Defense industries could be the driving force behind Ukraine's postwar economic recovery, the country's former foreign minister told Business Insider in an interview.

Dmytro Kuleba, who led Ukraine's foreign ministry from 2020 to late 2024, said, "When I look at defense industries, I think of how to turn them into a driving force of Ukraine's economic revival.

"What we see today is a complete restructuring of Ukraine's economy," he added.

No one knows when the war in Ukraine will end, although conversations over a peace deal are taking place between President Donald Trump and Russia's President Vladimir Putin.

Ukraine's economy has struggled since Russia launched its full-scale invasion in February 2022.

According to its statistics agency, Ukraine's GDP fell by 28.8% in 2022, before rebounding 5.3% in 2023. Its GDP growth was projected to be about 3.4% to 3.6% in 2024, due in part to defense spending, per the OECD.

Even so, Ukraine's economy has proved resilient, thanks in part to more than $220 billion in Western military aid and to its private and state-run companies shifting their focus toward the country's defense industry.

"Today, a different economy is emerging in front of us," Kuleba told BI, one where he said the private sector could also "massively" leverage Ukraine's defense technologies, such as AI-piloted drones and autonomous vehicles used on the front lines.

"Why cannot the same technology be applied to analyzing the economy, the movement of goods and services in the country, and optimizing them to make them more cost-efficient and customer-oriented?" he said.

Arsenal of the Free World

Kuleba is not the only former official who sees huge potential in Ukraine's defense industries.

Oleksandr Kamyshin, Ukraine's former minister of strategic industries, told The Guardian in November 2023 that Ukraine could become the "arsenal of the free world."

Some economic and military analysts have also predicted that Ukraine will become a European defense powerhouse after the war ends.

William Courtney, an adjunct senior fellow at RAND Corporation and a former US ambassador, told BI that Ukraine could become a cost-competitive producer of a wide range of military equipment.

This would be useful given that many European countries lack the capability to produce some items or the capacity to produce them in sufficient volume, he said.

Courtney pointed to software, AI, robotics, and wheeled vehicles as key areas Ukraine has developed since the start of the war, and where it could lead in Europe.

He also said that a decade after combat operations end and a stable cease-fire or armistice is achieved, Ukraine could become one of the world's top 10 countries in terms of defense production.

Dmytro Krukovets, a macroeconomic analyst at the Kyiv School of Economics, told BI he expects Ukraine to be a strong player after the war.

He pointed to a "rapid rise" in military-tech startups and defense innovations, citing an October 2024 study by Brave1 and the Kyiv School of Economics.

That study found that Ukrainian defense startups raised $5 million in 2023, and looked set to raise $50 million in 2024.

Not plain sailing

However, other economic analysts struck a more cautious tone.

Kateryna Bondar, a fellow with the Wadhwani AI Center at the Center for Strategic and International Studies, told BI that Ukraine will struggle to attract foreign investment due to its weak judicial system and lack of legislation to protect intellectual property rights.

"Capital can come only from abroad," she said, "but we haven't seen really considerable investment, and the reason for that is really the absence of trust in the government, in legislation, and in the judicial system."

Since the outbreak of the war, Western defense companies have opened facilities in the country, including German arms maker Rheinmetall, American defense contractor AeroVironment, and KNDS, a French-German defense group.

But Charles Lichfield, deputy director of the Atlantic Council's GeoEconomics Center, told BI that Ukraine will also need its defense industries to serve domestic needs, to deter future attacks, limiting export opportunities.

"They'll need to keep a lot of what they're producing," he said.

RAND researchers said in a 2023 report that Ukraine would need security guarantees against the threat of another attack to give investors the confidence to take risks and make long-term commitments in the country.

For now, Kuleba, the Ukrainian minister, said his ideas for Ukraine's economy are still uncharted territory, but that "if we want to build a future, we have to start" now.

He added: "Ukraine is open to virtually any idea that can boost economic growth and build a sustainable economy."

• William McKinley came to power during a time of economic instability and inequality.
• As a congressman in 1890, he authored the highest and most protectionist tariff act in US history.
• As president, his views on trade shifted towards a more reciprocal approach.

President Donald Trump has brought a historical figure to the forefront in recent months: William McKinley, the 25th president of the United States.

McKinley, who was president between 1897 and 1901, famously authored the highly protectionist Tariff Act of 1890, later named after him, which imposed over 50% tariffs on many imported goods.

President Trump has name-dropped McKinley multiple times. During the 2024 campaign, Trump repeatedly lauded McKinley's tariff policies, crediting them for making America a "very wealthy country."

"In the 1890s, our country was probably the wealthiest it ever was because it was a system of tariffs," Trump said in a Michigan town hall in September. "We had a president, you know McKinley?"

Since returning to the White House, Trump has enacted his own aggressive tariffs, including 25% tariffs on all steel and aluminum imports and a 10% tariff on imports from China. Earlier this month, he also imposed a 25% tariff on most items from Canada and Mexico, but later delayed those tariffs for 30 days.

McKinley's tariff policies, which were rolled out when he was a congressman, had far-reaching impact on the economy, and were ultimately widely unpopular among voters, leading him and other Republican congressmen to lose their seats in the 1890 midterms. Even McKinley himself changed his mind on foreign trade by the time he became president.

"This was protectionist at its height," William K. Bolt, a professor of history at Francis Marion University, told Business Insider of McKinley's original policy. "And there was a significant political backlash against it."

Photos from the late 19th century and early 20th century highlight the economic factors that led to McKinley's tariffs, how they changed day-to-day life for Americans, and what ultimately led to him backtracking on his policies.

By the late 1800s, industry leaders had accumulated exorbitant amounts of wealth.

In the latter half of the century, industries like oil, steel, railroads, and manufacturing were growing rapidly in the United States. The Economic History Association estimated that industrial output in the US had reached a value of $9.4 billion by 1890. Nearly five million people were employed by the 350,000 industrial firms operating in the country, and the rapid expansion of business generated unprecedented revenue.

The businessmen who led the expanding manufacturing economy amassed massive amounts of personal wealth, even by today's standards.

The average family's annual income was around $500 (about $18,000 in today's money), according to an 1892 report from the Senate Finance Committee, yet the top 1% of families owned over half of America's wealth. During this era, known as the Gilded Age, the wealthiest families in America, such as the Rockefellers and Vanderbilts, formed a new social elite akin to European aristocracy.

The economic disparity became more obvious through the wealthy's over-the-top displays of their riches in social gatherings like the 1897 Bradley-Martin Ball in New York City, where 700 members of the country's elite gathered in a royalty-themed costume party.

Other displays of the elite's wealth included extravagant architecture and fashion.

Meanwhile, cities were crowded by immigrants, and workers lived in extreme poverty.

On the other side of the wealth divide, workers and immigrants faced harsh living conditions.

The rapid increase in industrialization drew masses to America, and immigration, particularly from countries in eastern and southern Europe, changed the face of the workforce, according to the Library of Congress.

Children, who weren't protected by law from physically challenging labor, had often started contributing to their households by age 10.

In New York City, the population doubled every decade from 1800 to 1880. Tenement housing, where families packed as many people as possible into apartments by using cheap materials to create walls or add floors to existing buildings, quickly dominated parts of the city. These settlements often lacked indoor plumbing or ventilation, leading to a rapid increase in the spread of illnesses. The cramped conditions also led to many fires in major cities.

Jacob Riis' "How The Other Half Lives," a photojournalism book documenting the lives of poor Americans towards the end of the century, exposed the realities faced by millions of people, such as having 12 adults sleeping in 13-feet-wide rooms and child mortality in tenements being as high as one in 10.

Although it was relatively small, a middle class also began to flourish.

An average family spent nearly 60% of their annual income on food and rent, and laborers — including children — often worked six 10-hour days per week.

One report of living standards of the time suggested that an average family's dreams would be fulfilled by owning a home valued around $36,000 in today's money, a Sunday dress and suit, a barrel of flour, 5 tons of coal, and $9,000 in today's money in savings.

The presence of disposable income led to the establishment of department stores and consumerism in the big cities.

For women entering the workforce, retail stores offered a more respectable field of work than the factory work available to them, which was mostly in textile and garment manufacturing. While job opportunities opened for women, their wages remained significantly lower than men's, who were still seen as the breadwinners of the households, according to the Library of Congress.

Postwar tariffs and rapid industrialization led to the federal government running a fiscal surplus.

Prior to the adoption of the federal income tax in 1913, tariffs were the federal government's main source of funding.

In an effort to help the economy recover following the Civil War, the government had kept tariffs on foreign goods relatively high compared to pre-war rates, Douglas Irwin, an economics professor at Dartmouth College, wrote for the National Bureau of Economic Research.

However, by the late 1880s, a unique problem had arisen: The federal government was taking in too much money from tariffs, resulting in a budget surplus over 40% higher than its spending.

Both parties agreed to revisit tariff rates in efforts to reduce it, although each side supported a different alternative in what became known as the Great Tariff Debate of 1888.

Ohio representative William McKinley authored the Tariff Act of 1890.

Born in 1843 in Niles, Ohio, William McKinley was working as a school teacher when the Civil War broke out in 1861. He enlisted in the Union Army and quickly climbed the ranks. After the war, he attended Albany Law School in New York and began his political career shortly after, being elected to the House of Representatives in 1876.

By 1890, he had risen within the congressional chamber and became chairman of the Ways and Means Committee, overseeing taxation and tariffs.

Authored by McKinley and later named after him, the Tariff Act of 1890 raised protective tariffs of over 1,500 products by almost 50%.

The tariff imposed duties on items like tinplate and wool while eliminating tariffs on sugar, molasses, tea, and coffee. The goal of the act was to "make the duty on foreign-tinplate high enough to insure its manufacture in this country," McKinley said in 1890.

It also protected American workers' wages from competition from cheaper labor abroad.

Tariffs on goods like wool and steel affected industries differently.

While miners and farmers of crops like corn, wheat, and potatoes benefited from the stimulus to American production and the rise in foreign competitors' prices, some manufacturing was hurt by the price hikes in raw materials.

The tariffs affected consumer products like shoes, clothes, and canned goods, as well as some other 1,500 products, ranging from chemicals and metals to dairy products and grains, to varying degrees.

Ultimately, it was everyday people who ended up paying the price for the tariffs, Bolt said.

"Consumers had to pay a higher price for the manufactured good they wanted," Bolt said. "So there was in fact a political backlash against the McKinley tariff."

The spike in prices was not well-received by American consumers.

Following the adoption of the Tariff Act, McKinley's Republican Party lost control of Congress in the midterm elections of 1890, and the Ohio representative himself was ousted as the party lost 93 seats in the House of Representatives.

Over the next two years, as voters continued to feel the impacts of the measure and other economic instabilities, the party also lost the presidential election and both chambers of Congress in 1892.

Across the country, economic unrest as prices rose turned workers against vendors and employers, leading to a rise in the labor movement.

Strikes erupted as growing industrialization stirred labor tensions.

As industries expanded, workers began to unite against industry barons to demand fair work conditions.

An 1892 strike demanding improvements in working conditions turned deadly after Carnegie Steel-hired security forces exchanged gunfire with the worker coalition.

Across the country, labor movements gained momentum, with the rising hostility between industry leaders and workers ending in fatal incidents.

In 1894, the Pullman Strike, after which Labor Day was established, led to dozens of deaths and millions of dollars in damages, pushing then-President Grover Cleveland to legitimize the labor movement by declaring the national holiday.

The economy reached a tipping point during the Panic of 1893.

By 1893, the economy had contracted significantly. Production rates were far exceeding domestic consumption, leading companies to slow down production and lay off workers.

The rise in unemployment (which reached 17% by the winter and surpassed 10% for the next half of the decade), along with government spending on Civil War pensions, were some of the factors that contributed to the panic.

Following the panic, the Democrats reduced some of McKinley's tariffs with the Wilson-Gorman Tariff Act of 1894. Tariffs on some items — including iron ore, lumber, and wool — were nixed entirely, angering US producers of those products.

Following the economic troubles, voters blamed President Grover Cleveland and his Democratic party, which didn't regain power in any branch of government until 1910.

After running as a "tariff man standing on a tariff platform," McKinley won the presidential election in 1896.

Shortly after ending his term as governor of Ohio, serving from 1892 to 1896, McKinley ran for president on a protectionist platform that aimed to benefit American industries while discouraging trade with foreign nations.

"Free trade gives to the foreign producer equal privileges with us," McKinley proclaimed in an 1892 speech. "It destroys our factories or reduces our labor to the level of theirs."

McKinley's tariff plans heavily targeted the import of goods like tinplate, wool, yarn, steel, and sugar in an effort to encourage domestic manufacturing.

With domestic manufacturing at a high, US companies looked to export goods, but tariffs hindered some of their efforts.

With domestic industries continuing to grow thanks to widespread industrialization and an increase in goods production, American manufacturers saw a need for exports to an international market.

However, America's tariffs on foreign imports led other nations to increase their duties on American products, limiting the domestic industries' role in foreign trade and hurting the economy as a surplus of production failed to bring in more revenue for manufacturers.

Once elected president, McKinley changed his mind on tariffs, supporting a reciprocal approach.

Once in the White House, President McKinley's approach to tariffs turned to a reciprocal view that would help export American products and stimulate trade rather than penalize it.

Staying true to his election promise of high tariffs, McKinley supported the Dingley Tariff Act, which raised previously lowered tariffs back to an average of 49% on imported goods, according to Lewis L. Gould, a professor of American history at the University of Texas. However, the act also granted the president the power to negotiate tariff reductions up to 20% or add products to a tariff "free-list."

Using the tariffs as a negotiating tool with foreign markets, McKinley encouraged nations to lower their tariffs on American goods to allow for more exports.

Big business grew bigger during his administration.

Major donations from executives from firms like JP Morgan and Standard Oil ensured that the McKinley presidency remained friendly to business interests.

McKinley was also in office for part of the Great Merger wave of 1895-1904, in which companies consolidated into larger firms, according to the National Bureau of Economic Research. Between 1895 and 1904, the average number of firms disappearing to mergers each year was 301; in 1899 alone, as merger activity peaked, this number rose to 1,028, per the NBER.

While the Sherman Antitrust Act — a federal law prohibiting businesses from engaging in unfair practices that restrain competition — was passed in 1890, it is understood that the McKinley administration failed to strictly enforce the law to prevent large firms from consolidating into even larger monopolies during this period.

Meanwhile, in factories and mills, child labor rose as low-income families sought out additional income.

According to the US Bureau of Labor Statistics, one out of every eight children was employed by 1870. By 1900, the rate had risen to one in every five, with almost two million kids aged 10 to 15 working full-time jobs.

In rural areas, young boys (some even younger than 14) often worked at coal mines, breaking up coal with their bare hands or performing farm labor. In cities, many earned an income through newspaper delivery. In towns, both boys and girls often worked at mills or factories.

Labor movements gained momentum.

The unregulated growth of large firms led to more workers getting involved with the labor movement. Between 1897 and 1904, union membership increased from less than 500,000 to over two million workers, according to the US Department of Labor.

Workers united to demand fair working conditions, like improved facilities and hours. At the time, the norm for a worker was to work over 10 hours a day in places like factories or mills that exposed them to dangerous chemicals and conditions.

As the labor movement gained support, tensions between workers and businesses grew more hostile. One 1897 encounter between coal miners and local authorities, which later became known as the Lattimer Massacre, resulted in the death of 19 strikers.

McKinley's administration oversaw the start and end of the Spanish-American war.

Sent to Havana Harbor during the Cuban War of Independence against the Spanish, the USS Maine and its accidental explosion set the stage for America's declaration of war with Spain.

Unverified reports of a Spanish attack on the ship alarmed Americans and quickly built support for the war, which Americans saw as a just cause for Cuban freedom.

On the night after the explosion alone, the Army received over 100,000 volunteers.

The Spanish-American war was perhaps the most significant development of the McKinley administration, and might've contributed to the president's shift in tone regarding foreign trade towards the end of his presidency.

McKinley's presidency ushered in a new era of American imperialism.

The Spanish-American war greatly expanded America's reach in the hemisphere and beyond.

The 16-week war and low casualties on the American front helped raise the national spirit following the economic and political instability of the past century.

By absorbing Spain's colonial territories in the Caribbean, the United States became its own imperial power, and an era of imperialism and global prevalence quickly followed.

After the war, the United States annexed Hawaii, Puerto Rico, and Guam.

America's victory in the Spanish-American War and the subsequent annexation of Hawaii, Puerto Rico, and Guam ended America's isolationist approach of the 19th century in favor of a globalist view, which was then reflected in the domestic politics adopted by McKinley's leadership.

Victory in the war effectively turned a page in American politics as the country was now emboldened by its newly found global power.

McKinley announced the end of his protectionist tariff measures at the 1901 Pan-American Exposition.

In a drastic change in views since his Congress days, McKinley openly discouraged the protectionist economy in favor of reciprocal tariffs, saying that "a policy of good will and friendly trade relations will prevent reprisals."

His speech at the Pan-American Exposition signaled a shift in the Republican Party's views of trade following the war, and opened the door for an expansionist economy.

One day after the convention, McKinley was fatally shot.

While attending the event, the president was shot by Leon Czolgosz, a Polish-American laborer and anarchist. He died from the wounds eight days later, on September 14, 1901.

Despite the economic turmoil of the previous decade, McKinley was widely mourned by the country.

"It's a great "what-if" in American politics," Bolt said. "If McKinley wasn't assassinated, [would] we [have started] to move towards free trade a lot earlier than we did?"

The social instability of the turn-of-the-century economy set the stage for the Progressive Era.

Following McKinley's death, his successor, President Theodore Roosevelt, and subsequent Progressive politics brought upon changes that alleviated the social and economic tensions of the Gilded Age.

Power shifted from the barons and reforms in labor, trust busting, tax policies, and civil rights changed the landscape of American life.

While McKinley's presidency is often overshadowed by his successor's, he had a significant impact on setting the stage for a new age in the domestic economy, both through his protectionist tariffs and his undoing of them.

US District Judge John D. Bates has ordered (PDF) the Center for Disease Control and Food and Drug Administration to restore the web pages and resources they had previously removed to comply with President Trump's executive order related to gender ideology. Bates gave the agencies until February 11, 11:59 PM Eastern time, to comply. As of this writing, the CDC website on "Transgender and Gender Diverse Persons" is already back online with a note up top that says the CDC's website "is being modified to comply with President Trump's Executive Orders."

The judge's decision is part of a temporary restraining order that he has granted as requested by the Doctors for America. Represented by Public Citizen, the non-profit organization sued the CDC (PDF), the FDA and the Department of Health in February. It also sued the Office of Personnel Management (OPM), which issued the memo for the pages' removal. As The Washington Post notes, the memo ordered agency heads to "end all agency programs that use taxpayer money to promote or reflect gender ideology." 

In response, the CDC and FDA removed a number of web pages covering a wide variety of topics. In its lawsuit, Doctors for America said the pages that were removed provided healthcare workers with treatment guidance and important datasets necessary for research and for formulating appropriate public health responses. The pages contained resources for HIV monitoring, contraception, assisted reproductive technologies like IVF, health risks for youths, social vulnerability and environmental justice. In addition, the organization pointed out that the agency didn't provide any notice before removing those pages. 

The non-profit organization gave some specific examples in its lawsuit. Dr. Reshma Ramachandran, who has a research program at Yale School of Medicine, said that the CDC's removal of its resources about contraceptives and STIs caused delays in her "patients' access to appropriate contraception." Meanwhile, a Dr. Stephanie Liou said the the pages' removal impeded her ability to formulate a quick and appropriate response to a chlamydia outbreak in her high school, as her employers didn't have access to "many expensive clinical resources." Doctors of America accused the CDC and the FDA of violating the Paperwork Reduction Act that requires officials to "ensure that the public has timely and equitable access to the agency’s public information."

In addition to bringing back the pages that were removed, the agencies were also ordered to restore any resources that were modified to their original state by February 14. The resources that were brought back online will remain available while the non-profit org's lawsuit is ongoing.