Money, Wealth & Power—A Daily Look at the Financial World
Costco’s new lawsuit against the Trump administration’s tariffs is not just a Beltway legal fight, it is a direct test of how much of the trade war bill shoppers will still be paying in 2026. If judges side with the retailer, billions of dollars in duties could be unwound, reshaping what Americans pay for groceries,…
The White House is betting that weaker fuel economy rules will translate into cheaper new cars, arguing that cutting regulatory costs will let automakers lower sticker prices and put more drivers into newer vehicles. The promise is simple and politically potent: relax efficiency standards now, and families will save money at the dealership. The reality,…
The World Bank is sounding the alarm on a mounting debt squeeze in poorer nations, warning that the gap between what they owe and what they can borrow has widened to a 50-year extreme. The strain is most acute in emerging and developing economies that must juggle higher global interest rates, weaker growth, and a…
Palantir is no longer content to be a niche data analytics vendor tucked inside defense and intelligence contracts. It is positioning its software as the core layer that coordinates how organizations deploy, govern, and scale artificial intelligence, effectively pitching itself as the operating fabric for an AI-first economy. That ambition is reshaping how investors, policymakers,…
The Big Ten thought it had engineered the next great leap in college sports finance, a private capital injection worth $2.4 billion that promised instant cash and long-term security. Instead, the plan ran headfirst into a wall of skepticism from two of its most powerful brands, triggering a standoff that froze the money and exposed…
Wendy’s is embarking on one of the largest retrenchments in its history, shutting hundreds of U.S. restaurants and putting thousands of jobs at risk as it tries to reset its business for a harsher economic reality. The closures, which affect roughly 300 locations over this year and next, are expected to hit about 8,000 workers,…
Starbucks is preparing to send millions of dollars back to its workforce after a major enforcement action over scheduling and worker protection rules, and the stakes go far beyond one coffee chain. The headline number may grab attention, but what matters most for baristas and shift supervisors is how the money will be divided, who…
Bank of America’s decision to scale back its expectations for Federal Reserve rate cuts puts a sharper edge on the final policy meeting of the year, with investors now weighing a slower path to easier money against a still resilient economy. Instead of treating the coming move as the start of an aggressive easing cycle,…
Across the United States, a growing share of people with seven-figure portfolios say they feel more anxious than affluent. Surveys now show that roughly two in three American millionaires do not see themselves as rich, even as their account balances cross thresholds that once defined the upper class. The disconnect between balance-sheet success and day-to-day…
General Motors chief executive Mary Barra has quietly upended one of the Biden administration’s favorite electric vehicle talking points. After years of public praise from President Joe Biden that cast GM as the company “electrifying the entire automobile industry,” she has now acknowledged in private conversations with the president that Elon Musk and Tesla deserve…