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Ticker

The day’s business news at a glance

Storms cancel more US flights amid TSA struggles

Storms sweeping across the eastern half of the country are disrupting air travel across the United States. FlightAware reported more than 4,200 U.S. flights canceled Monday and about 9,600 others delayed.

The storms already dumped heavy snow across parts of the Midwest and were moving toward the East Coast with strong winds and the threat of tornadoes. The travel disruptions come during a busy period for airports, with spring break vacations and fans traveling for March Madness games. Meanwhile, a partial government shutdown affecting the Transportation Security Administration has stretched staffing at some airport security checkpoints, leading to longer lines in some places.

Negotiations begin to renew trade pact

Every day more than $4 billion worth of goods cross the United States’ borders with Canada and Mexico — U.S. auto parts headed for car factories in northern Mexico, cartons of Mexican avocados bound for California supermarkets, Canadian aluminum destined to become cans of Campbell Soup.

Much of this cross-border commerce is duty-free, thanks to the US-Mexico-Canada Agreement that President Donald Trump negotiated during his first term. But the future of the trade pact, which took effect July 1, 2020, is cloudy as the three countries begin what could be a tempestuous attempt to renew the pact this year.

Nvidia CEO heralds next phase of AI boom

Nvidia CEO Jensen Huang on Monday elaborated on his vision for keeping his company at the forefront of the artificial intelligence boom that he predicted will produce a $1 trillion backlog in orders within the next year.

Sporting his signature black leather jacket, Huang spent two hours sauntering across a stage in a packed arena in San Jose, California, explaining how Nvidia’s processors became indispensable AI components and highlighting the products that he believes will keep the company in the catbird’s seat. To hammer home his point, Huang said Nvidia will be grappling with a $1 trillion backlog in AI chip orders, doubling his estimate from a year ago.

Tax scams on the rise, in different forms

Robocalls, texts and phishing emails from scammers are up this tax season compared to previous years, according to the consumer protection bureau of the FTC.

Consumer advocates and government officials are urging the public to stay wary, to stop and think before engaging with phone or text messages, and to remember the IRS will not contact you directly by text or phone. Officials also say that artificial intelligence has likely contributed to the increased volume of fraud attempts.

Poland now among world’s 20 largest economies

Poland once was in economic ruins when communism fell more than three decades ago. Now it’s the 20th largest economy in the world. Poland edges out Switzerland with more than $1 trillion in annual output.

The Trump administration is taking note by inviting Poland to attend the Group of 20 summit of leading economies this year. Poland prospered by turning decisively toward the European Union and dodging the corruption that plagued other countries that had been in the Soviet orbit. Poland’s entrepreneurs aren’t afraid to take risks and start new businesses. All that means many educated young people see their future at home instead of abroad.

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