Money, Wealth & Power—A Daily Look at the Financial World
Thiel-backed digital bank Erebor is preparing to vault into a higher league of fintech valuations, targeting a new price tag of $4.35 billion on the back of fresh capital and hard-won regulatory approvals. The move signals how aggressively Silicon Valley founders and investors are still willing to bet on banking startups that promise to blend…
Global wealth is ballooning on paper far faster than the real economy is growing, and that gap is quietly transforming who gets rich and who is left behind. Instead of coming from new factories, better infrastructure or higher wages, much of today’s fortune-building is riding on soaring prices for stocks, real estate and other financial…
President Donald Trump’s new 12 billion dollar farm rescue is being sold as a lifeline, but many growers see it as a one year patch on a much deeper wound. With profits already collapsing and bankruptcies climbing, producers warn that the structure of the plan could actually accelerate failures if it props up today’s balance…
Doug Burgum has staked his tenure at the Interior Department on a simple promise: that President Donald Trump is restoring cheap, secure American energy by tearing down barriers to drilling, mining, and power generation. From offshore lease sales to liquefied natural gas exports, the administration is moving quickly to expand supply and rewire federal oversight….
Sharpie maker Newell Brands is cutting hundreds of jobs and swallowing a hefty restructuring charge as tariffs and weak demand squeeze one of America’s most familiar consumer-goods groups. The company is eliminating roughly 900 roles worldwide and booking about $90 million in related costs, a stark sign of how trade policy and pricing missteps are…
Gasoline is suddenly the rare household staple that is getting cheaper instead of more expensive, yet the political conversation around energy costs sounds more panicked than relieved. With the national average for a gallon of Regular hovering around $2.88, Democrats are still talking as if fuel is spiraling out of control, a disconnect that reveals…
Big banks are quietly erasing hundreds of branches from the map, and the impact is landing hardest on customers who can least afford to lose in-person service. What looks like a tidy efficiency play on a balance sheet is, at street level, a reshaping of where and how people can access basic financial services. As…
The Federal Reserve has cut interest rates again, trimming borrowing costs even as officials warn there is no easy way to steer the economy to a soft landing. At the same time, a leading economist is sounding the alarm that millions of Americans are already stretched so thin that even a modest downturn could tip…
Millennials are entering midlife in a split-screen economy, where some are finally building real wealth while others are stuck juggling rent, debt, and rising prices. The result is a generation that looks prosperous on paper yet is riven by a widening wage and wealth divide that shapes everything from career choices to family plans. That…
The United States has turned a simmering sanctions campaign against Venezuela into a live maritime confrontation, with the U.S. Coast Guard now tracking a third oil tanker accused of moving sanctioned crude. The pursuit has jolted global oil markets, sharpened tensions with Nicolás Maduro’s government, and pulled in outside powers that see Venezuela’s barrels as…
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