Money, Wealth & Power—A Daily Look at the Financial World
Elon Musk has scrapped traditional resumes and cover letters for engineers applying to work on Tesla’s next-generation AI chip, replacing them with a single demand: three bullet points describing the hardest technical problems a candidate has ever solved. The directive, aimed at staffing the Dojo3 supercomputer project, reflects Musk’s growing impatience with conventional hiring filters…
Tesla is pushing toward a sub-$30,000 price point for its Cybercab robotaxi, with CEO Elon Musk targeting production as early as 2026. But the company’s aggressive timeline runs headlong into a regulatory reality that has yet to catch up: Tesla still lacks the permits needed to operate an autonomous passenger service in California, and its…
New York City Mayor Zohran Mamdani has framed his $127 billion preliminary budget for Fiscal Year 2027 as a direct challenge to Governor Kathy Hochul: either Albany approves new taxes on millionaires and profitable corporations, or city homeowners face a property tax increase of nearly 10%. That binary choice, laid out in the budget released…
The U.S. Supreme Court ruled on February 20, 2026, that President Donald Trump lacked the authority to impose tariffs under the International Emergency Economic Powers Act, a decision that could save the lowest-income American households roughly $900 each in higher prices. But the promise of relief is colliding with a bitter reality. the Trump administration…
Walmart reported its fourth-quarter fiscal 2026 earnings on February 19, 2026, posting total revenue growth of 5.6% year over year and pointing to higher-income households as a key driver of its recent market share gains. The results cap a fiscal year in which the retailer hit record annual revenue, as the Financial Times reported. For…
Charter Communications, the parent company of Spectrum, has rolled out an aggressive new retention deal in the form of a streaming bundle called the Spectrum App Store in a direct bid to slow a significant customer exodus among internet subscribers. The platform promises included streaming apps with up to $125 in monthly retail value at…
Tesla dodged a 30-day suspension of its dealer and manufacturer licenses in California after making last-minute changes to its marketing practices, keeping the automaker’s sales flowing in the largest car market in the United States. The resolution, which centered on how Tesla described its driver-assistance features to consumers, carries consequences well beyond a single state…
Mark Cuban recently directed a blunt message at the biggest names in technology, arguing that their AI strategies are failing the vast majority of American businesses. His comments cut to a tension that has been building for months: while trillion-dollar companies race to build ever-larger AI models, the overwhelming share of U.S. firms operate without…
Red Lobster has shrunk its footprint through its Chapter 11 bankruptcy process and has warned that a smaller store base will be part of its path forward even after its court-supervised restructuring. The chain emerged under new ownership and new leadership, and the restructuring centered on closing underperforming restaurants. For longtime customers and the communities…
Ford is betting $5 billion that it can build a four-door midsize electric pickup truck with a starting price target of around $30,000, a level that could significantly undercut many battery-powered competitors. The truck is targeted for 2027 production at Ford’s Louisville Assembly Plant and rides on a new Universal EV Platform that Ford has…