Business
William Langewiesche, the ‘Steve McQueen of Journalism,’ Dies at 70
William Langewiesche, a magazine writer and author who forged complex narratives with precision-tooled prose that shed fresh light on national security, the occupation of Iraq and, especially, aviation disasters — he was a professional pilot — died on Sunday in East Lyme, Conn. He was 70.
Cullen Murphy, his longtime editor at The Atlantic and Vanity Fair, confirmed the death, at the home of a friend, saying the cause was prostate cancer.
Mr. Langewiesche (pronounced long-gah-vee-shuh) was one of the most prominent long-form nonfiction writers of recent decades. He was an international correspondent for Vanity Fair, a writer-at-large for The New York Times Magazine and a national correspondent for The Atlantic.
For 10 years running, from 1999 to 2008, his pieces were finalists for the National Magazine Award, and he won it twice: in 2007 for “Rules of Engagement,” about the killing of 24 unarmed civilians by U.S. Marines in 2005 in Haditha, Iraq; and in 2002 for “The Crash of EgyptAir 990,” about a flight that went down in the Atlantic Ocean in 1999 with the loss of all 217 people aboard.
He chose to write often about calamitous events, piecing together a meticulous explanation for what went wrong while portraying the human subjects under his microscope with sympathy.
“At his best there’s a sort of cinematic omniscience in the way he writes,” Mr. Murphy said in an interview. “And so you feel almost as he feels, with your face pressed up against the window watching something unfold, often very rapidly, and often wishing that things would unfold very differently but knowing there’s nothing that can be done.”
Mr. Langewiesche’s account of the EgyptAir crash in 1999, which was profoundly enriched by his own aviation background, blamed a suicidal co-pilot. Egyptian officials refused to accept that conclusion, a response, he wrote, that was rooted in political and cultural chauvinism.
Mr. Langewiesche learned to fly as a boy and worked as a commercial pilot early on to support his literary ambition. He drew on his aviation expertise in a number of articles and books that laid out highly technical subjects in lucid prose.
Writing about Capt. Chesley B. Sullenberger III’s famous landing of a commercial airliner in the Hudson River in 2009, Mr. Langewiesche made the case that that injury-free belly flop was a testament more to modern airplane technology than to the heroism of the pilot.
Captain Sullenberger took issue with that account, telling The New York Times that Mr. Langewiesche’s book about the episode, “Fly by Wire,” contained “misstatements of fact.”
Reviewing “Fly by Wire” in The Times, the book critic Dwight Garner wrote, “Written quickly, it lacks some of the eloquence and steely control of Mr. Langewiesche’s earlier books.” Mr. Garner called Mr. Langewiesche “the Steve McQueen of American journalism,” referring to the author’s muscular prose style and often gripping subject matter.
In other projects — pursued thanks to editors who allowed him months for reporting and writing — Mr. Langewiesche wrote an account in The Atlantic in 2006 about how terrorists might obtain a nuclear bomb; another article, also in The Atlantic, in 2004, dissected the sinking of a ferry in the Baltic Sea a decade earlier.
His 2002 book, “American Ground: Unbuilding The World Trade Center,” based on a three-part series in The Atlantic, was reported over six months at ground zero as he meticulously covered the cleanup after the terrorist attacks of Sept. 11, 2001.
Not all of his work described life and death dramas. His profile of Robert M. Parker Jr. in The Atlantic, “The Million-Dollar Nose,” opened with the enticing line: “The most influential critic in the world today happens to be a critic of wine.”
Closer to form, he wrote about another aviation mystery: the disappearance of a Malaysia Airlines flight with 277 passengers over the Indian Ocean in 2014, an article that generated enormous readership for The Atlantic.
The plane remained aloft for hours after someone in the cockpit shut down its communication signals, then plunged into the Indian Ocean.
Mr. Langewiesche hypothesized a scenario in which a pilot intent on murder-suicide had asphyxiated his passengers by climbing to 40,000 feet while depressurizing the cabin, then cruised onward until the fuel ran out and the plane plummeted.
“The scene would have been dimly lit by the emergency lights,” Mr. Langewiesche wrote, imagining those hours in chilling detail, “with the dead belted into their seats, their faces nestled in the worthless oxygen masks dangling on tubes from the ceiling.”
Of the captain, the last living soul in the plane, he wrote, “The cockpit is the deepest, most protective, most private sort of home.”
William Archibald Langewiesche was born on June 12, 1955, in Sharon, Conn. His mother, Priscila (Coleman) Langewiesche, was a computer analyst. His father, Wolfgang Langewiesche, a German-born émigré, was a test pilot for the maker of the Corsair fighter used by the U.S. Navy; he wrote a classic book on flying, “Stick and Rudder,” in the 1940s.
William, a late child, had an adult sister and brothers when he was growing up. His father taught him to fly before the boy could see over the instrument panel. Later, as an undergraduate at Stanford University, Mr. Langewiesche helped pay his way through college by piloting air taxis and charters.
After earning a degree in anthropology, he moved to New York City and worked for Flying magazine. But he quit the job because he aspired to write literary nonfiction, in part inspired by The New Yorker writer John McPhee. While struggling to be published, Mr. Langewiesche supported himself as a corporate pilot.
“Other people trying to break into writing have to work as waiters,” he told Aviation News in 2001, “and I considered myself as having a technical skill — like a welder — that I could use to support myself.”
His breakthrough came in 1991, when The Atlantic published as its November cover story his article “The World in Its Extreme,’’ a 17,000-word travelogue and natural history of the Sahara Desert. He went on to write for the magazine as a national correspondent for 15 years. In 2006, he became an international correspondent for Vanity Fair, where he contributed two to four lengthy articles a year through 2019.
Mr. Langewiesche married Anne-Marie Girard in 1977, and they had two children. The marriage ended in divorce in 2017, and the following year, he married Tia Cibani, who survives him.
In addition to his wife, he is survived by his son Matthew and his daughter Anna Langewiesche, both from his first marriage; his son Archibald and his daughter Castine Langewiesche, from his second marriage; and his sister, Lena Langewiesche. He lived in North Salem, N.Y., in Westchester County.
In a 2007 interview with Mediabistro, an online career site for designers and writers, Mr. Langewiesche described his method. Instead of reading exhaustively about a subject and writing questions for interviews in advance, he preferred to plunge right into a subject “with very little preparation, intentionally somewhat naïve about it.”
“I just talk to people and listen carefully and respond to what they’re saying and try to give of myself as much as I’m asking them to give of themselves, so that a true conversation can develop,” he said. “These conversations typically will go on for weeks, on and off. Sometimes I take notes.”
The real work, he said, came later when he sat down to write.
“Writing is thinking; writing is a form of thought,” he said. “It’s difficult for me to believe that real thought is possible without writing.”
Ash Wu contributed reporting.
Business
Trump orders federal agencies to stop using Anthropic’s AI after clash with Pentagon
President Trump on Friday directed federal agencies to stop using technology from San Francisco artificial intelligence company Anthropic, escalating a high-profile clash between the AI startup and the Pentagon over safety.
In a Friday post on the social media site Truth Social, Trump described the company as “radical left” and “woke.”
“We don’t need it, we don’t want it, and will not do business with them again!” Trump said.
The president’s harsh words mark a major escalation in the ongoing battle between some in the Trump administration and several technology companies over the use of artificial intelligence in defense tech.
Anthropic has been sparring with the Pentagon, which had threatened to end its $200-million contract with the company on Friday if it didn’t loosen restrictions on its AI model so it could be used for more military purposes. Anthropic had been asking for more guarantees that its tech wouldn’t be used for surveillance of Americans or autonomous weapons.
The tussle could hobble Anthropic’s business with the government. The Trump administration said the company was added to a sweeping national security blacklist, ordering federal agencies to immediately discontinue use of its products and barring any government contractors from maintaining ties with it.
Defense Secretary Pete Hegseth, who met with Anthropic’s Chief Executive Dario Amodei this week, criticized the tech company after Trump’s Truth Social post.
“Anthropic delivered a master class in arrogance and betrayal as well as a textbook case of how not to do business with the United States Government or the Pentagon,” he wrote Friday on social media site X.
Anthropic didn’t immediately respond to a request for comment.
Anthropic announced a two-year agreement with the Department of Defense in July to “prototype frontier AI capabilities that advance U.S. national security.”
The company has an AI chatbot called Claude, but it also built a custom AI system for U.S. national security customers.
On Thursday, Amodei signaled the company wouldn’t cave to the Department of Defense’s demands to loosen safety restrictions on its AI models.
The government has emphasized in negotiations that it wants to use Anthropic’s technology only for legal purposes, and the safeguards Anthropic wants are already covered by the law.
Still, Amodei was worried about Washington’s commitment.
“We have never raised objections to particular military operations nor attempted to limit use of our technology in an ad hoc manner,” he said in a blog post. “However, in a narrow set of cases, we believe AI can undermine, rather than defend, democratic values.”
Tech workers have backed Anthropic’s stance.
Unions and worker groups representing 700,000 employees at Amazon, Google and Microsoft said this week in a joint statement that they’re urging their employers to reject these demands as well if they have additional contracts with the Pentagon.
“Our employers are already complicit in providing their technologies to power mass atrocities and war crimes; capitulating to the Pentagon’s intimidation will only further implicate our labor in violence and repression,” the statement said.
Anthropic’s standoff with the U.S. government could benefit its competitors, such as Elon Musk’s xAI or OpenAI.
Sam Altman, chief executive of OpenAI, the company behind ChatGPT and one of Anthropic’s biggest competitors, told CNBC in an interview that he trusts Anthropic.
“I think they really do care about safety, and I’ve been happy that they’ve been supporting our war fighters,” he said. “I’m not sure where this is going to go.”
Anthropic has distinguished itself from its rivals by touting its concern about AI safety.
The company, valued at roughly $380 billion, is legally required to balance making money with advancing the company’s public benefit of “responsible development and maintenance of advanced AI for the long-term benefit of humanity.”
Developers, businesses, government agencies and other organizations use Anthropic’s tools. Its chatbot can generate code, write text and perform other tasks. Anthropic also offers an AI assistant for consumers and makes money from paid subscriptions as well as contracts. Unlike OpenAI, which is testing ads in ChatGPT, Anthropic has pledged not to show ads in its chatbot Claude.
The company has roughly 2,000 employees and has revenue equivalent to about $14 billion a year.
Business
Video: The Web of Companies Owned by Elon Musk
new video loaded: The Web of Companies Owned by Elon Musk

By Kirsten Grind, Melanie Bencosme, James Surdam and Sean Havey
February 27, 2026
Business
Commentary: How Trump helped foreign markets outperform U.S. stocks during his first year in office
Trump has crowed about the gains in the U.S. stock market during his term, but in 2025 investors saw more opportunity in the rest of the world.
If you’re a stock market investor you might be feeling pretty good about how your portfolio of U.S. equities fared in the first year of President Trump’s term.
All the major market indices seemed to be firing on all cylinders, with the Standard & Poor’s 500 index gaining 17.9% through the full year.
But if you’re the type of investor who looks for things to regret, pay no attention to the rest of the world’s stock markets. That’s because overseas markets did better than the U.S. market in 2025 — a lot better. The MSCI World ex-USA index — that is, all the stock markets except the U.S. — gained more than 32% last year, nearly double the percentage gains of U.S. markets.
That’s a major departure from recent trends. Since 2013, the MSCI US index had bested the non-U.S. index every year except 2017 and 2022, sometimes by a wide margin — in 2024, for instance, the U.S. index gained 24.6%, while non-U.S. markets gained only 4.7%.
The Trump trade is dead. Long live the anti-Trump trade.
— Katie Martin, Financial Times
Broken down into individual country markets (also by MSCI indices), in 2025 the U.S. ranked 21st out of 23 developed markets, with only New Zealand and Denmark doing worse. Leading the pack were Austria and Spain, with 86% gains, but superior records were turned in by Finland, Ireland and Hong Kong, with gains of 50% or more; and the Netherlands, Norway, Britain and Japan, with gains of 40% or more.
Investment analysts cite several factors to explain this trend. Judging by traditional metrics such as price/earnings multiples, the U.S. markets have been much more expensive than those in the rest of the world. Indeed, they’re historically expensive. The Standard & Poor’s 500 index traded in 2025 at about 23 times expected corporate earnings; the historical average is 18 times earnings.
Investment managers also have become nervous about the concentration of market gains within the U.S. technology sector, especially in companies associated with artificial intelligence R&D. Fears that AI is an investment bubble that could take down the S&P’s highest fliers have investors looking elsewhere for returns.
But one factor recurs in almost all the market analyses tracking relative performance by U.S. and non-U.S. markets: Donald Trump.
Investors started 2025 with optimism about Trump’s influence on trading opportunities, given his apparent commitment to deregulation and his braggadocio about America’s dominant position in the world and his determination to preserve, even increase it.
That hasn’t been the case for months.
”The Trump trade is dead. Long live the anti-Trump trade,” Katie Martin of the Financial Times wrote this week. “Wherever you look in financial markets, you see signs that global investors are going out of their way to avoid Donald Trump’s America.”
Two Trump policy initiatives are commonly cited by wary investment experts. One, of course, is Trump’s on-and-off tariffs, which have left investors with little ability to assess international trade flows. The Supreme Court’s invalidation of most Trump tariffs and the bellicosity of his response, which included the immediate imposition of new 10% tariffs across the board and the threat to increase them to 15%, have done nothing to settle investors’ nerves.
Then there’s Trump’s driving down the value of the dollar through his agitation for lower interest rates, among other policies. For overseas investors, a weaker dollar makes U.S. assets more expensive relative to the outside world.
It would be one thing if trade flows and the dollar’s value reflected economic conditions that investors could themselves parse in creating a picture of investment opportunities. That’s not the case just now. “The current uncertainty is entirely man-made (largely by one orange-hued man in particular) but could well continue at least until the US mid-term elections in November,” Sam Burns of Mill Street Research wrote on Dec. 29.
Trump hasn’t been shy about trumpeting U.S. stock market gains as emblems of his policy wisdom. “The stock market has set 53 all-time record highs since the election,” he said in his State of the Union address Tuesday. “Think of that, one year, boosting pensions, 401(k)s and retirement accounts for the millions and the millions of Americans.”
Trump asserted: “Since I took office, the typical 401(k) balance is up by at least $30,000. That’s a lot of money. … Because the stock market has done so well, setting all those records, your 401(k)s are way up.”
Trump’s figure doesn’t conform to findings by retirement professionals such as the 401(k) overseers at Bank of America. They reported that the average account balance grew by only about $13,000 in 2025. I asked the White House for the source of Trump’s claim, but haven’t heard back.
Interpreting stock market returns as snapshots of the economy is a mug’s game. Despite that, at her recent appearance before a House committee, Atty. Gen. Pam Bondi tried to deflect questions about her handling of the Jeffrey Epstein records by crowing about it.
“The Dow is over 50,000 right now, she declared. “Americans’ 401(k)s and retirement savings are booming. That’s what we should be talking about.”
I predicted that the administration would use the Dow industrial average’s break above 50,000 to assert that “the overall economy is firing on all cylinders, thanks to his policies.” The Dow reached that mark on Feb. 6. But Feb. 11, the day of Bondi’s testimony, was the last day the index closed above 50,000. On Thursday, it closed at 49,499.50, or about 1.4% below its Feb. 10 peak close of 50,188.14.
To use a metric suggested by economist Justin Wolfers of the University of Michigan, if you invested $48,488 in the Dow on the day Trump took office last year, when the Dow closed at 48,448 points, you would have had $50,000 on Feb. 6. That’s a gain of about 3.2%. But if you had invested the same amount in the global stock market not including the U.S. (based on the MSCI World ex-USA index), on that same day you would have had nearly $60,000. That’s a gain of nearly 24%.
Broader market indices tell essentially the same story. From Jan. 17, 2025, the last day before Trump’s inauguration, through Thursday’s close, the MSCI US stock index gained a cumulative 16.3%. But the world index minus the U.S. gained nearly 42%.
The gulf between U.S. and non-U.S. performance has continued into the current year. The S&P 500 has gained about 0.74% this year through Wednesday, while the MSCI World ex-USA index has gained about 8.9%. That’s “the best start for a calendar year for global stocks relative to the S&P 500 going back to at least 1996,” Morningstar reports.
It wouldn’t be unusual for the discrepancy between the U.S. and global markets to shrink or even reverse itself over the course of this year.
That’s what happened in 2017, when overseas markets as tracked by MSCI beat the U.S. by more than three percentage points, and 2022, when global markets lost money but U.S. markets underperformed the rest of the world by more than five percentage points.
Economic conditions change, and often the stock markets march to their own drummers. The one thing less likely to change is that Trump is set to remain president until Jan. 20, 2029. Make your investment bets accordingly.
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