Money, Wealth & Power—A Daily Look at the Financial World
OpenAI is telling prospective investors it expects to spend roughly $600 billion on compute infrastructure and generate $280 billion in annual revenue by 2030, according to recent reporting, as the company closes in on a funding round that could exceed $100 billion. The projections, shared during investor briefings, arrive alongside a major restructuring of the…
The UK government has scrapped a £950 million electric vehicle rapid charging fund originally announced by the Conservatives, replacing it with £400 million spread over five years. The decision comes as industry groups warn that planning bottlenecks at British ports are delaying infrastructure needed to meet net zero targets. Taken together, the reduced funding and…
Mayor Zohran Mamdani’s fiscal year 2027 preliminary budget for New York City includes a proposed 9.5% property tax rate increase, a move that would hit more than three million homes and over 100,000 commercial buildings. The plan has drawn sharp criticism from residents and political figures who say it contradicts the mayor’s campaign pledges to…
Robert Kiyosaki, the financial author behind “Rich Dad Poor Dad,” is betting big on Bitcoin and predicting it will reach $250,000, a price level he believes will cement the cryptocurrency’s dominance over gold as a store of value. At the same time, he forecasts gold will climb to $27,000 per ounce, a target he credits…
Two semiconductor giants are racing to shape the artificial intelligence chip market, but their strategies could not be more different. Broadcom Inc. has built its AI business around custom silicon designed for hyperscale cloud operators, while Advanced Micro Devices (AMD) sells general-purpose accelerators that compete head-to-head with Nvidia. With both companies reporting record revenue and…
The U.S. Department of Labor announced on February 18, 2026, that it is sending a specialized “strike team” to examine California’s unemployment insurance program, targeting roughly $21 billion in outstanding federal loan debt and persistent fraud concerns. Labor Secretary Lori Chavez-DeRemer framed the intervention as a direct response to years of insolvency in the state’s…
International arrivals to the United States fell nearly 5% in January compared with a year earlier, extending a downturn that made the country the only major destination to lose foreign visitors in 2025 even as global tourism grew. The decline, tracked through federal I-94 admission records covering overseas, Canadian, and Mexican travelers, signals that political…
Edison International, the parent company of Southern California Edison, will cut roughly $2 million in executive bonuses tied to the company’s 2025 financial performance following the Eaton Fire that devastated parts of Altadena. The decision, announced by Edison’s top executive, comes as Los Angeles County pursues a lawsuit alleging the utility’s equipment sparked the blaze….
Frito-Lay, the snack division of PepsiCo, is closing a California warehouse and cutting 247 jobs, according to a Worker Adjustment and Retraining Notification filed with the state in February 2026. The filing lands just weeks after California expanded its WARN Act requirements, raising questions about how the new rules will shape employer behavior during a…
Detroit’s biggest automakers asked the White House on February 20, 2026, to be exempted from a fresh round of trade penalties that threaten to add billions of dollars in costs to vehicles assembled with imported parts. The appeal, delivered while President Donald Trump was visiting Ford’s historic River Rouge Complex in Dearborn, Michigan, underscores mounting…