Money, Wealth & Power—A Daily Look at the Financial World
Record-breaking Black Friday receipts are colliding with a darker mood about the United States economy, and the contrast is hard to ignore. Shoppers opened their wallets in spectacular fashion, yet the surge in spending is arriving alongside rising anxiety about inflation, slowing wage growth, and widening inequality. I see a holiday splurge that looks less…
Algoma Steel’s decision to eliminate roughly 1,000 jobs is more than a corporate restructuring, it is a stark example of how trade policy can ripple through a local economy and upend working lives. The company is tying the cuts directly to U.S. tariffs, arguing that the new costs have shattered its ability to compete in…
Goldman Sachs is paying $2 billion for a specialist in so-called “boomer candy,” a corner of the exchange traded fund market built around manufactured yield and partial downside protection. The deal is more than a splashy headline about retirees and sweeteners, it is a bet that buffered and defined-outcome strategies are moving from niche curiosity…
US banking giants are deepening their footprint in Britain just as the government signals a friendlier stance on finance, turning a post‑Budget sigh of relief into bricks, desks and new jobs. Their expansion plans in London and Birmingham are more than routine office moves, they amount to a public vote of confidence in the United…
Netflix has not publicly announced any plan to acquire Warner Bros., and there is no verified reporting that a mostly cash bid is on the table. Instead, the idea of Netflix circling Warner Bros. lives in the realm of hypothetical dealmaking, a way to test how far consolidation in streaming and Hollywood might go. I…
Artificial intelligence is no longer a distant disruptor waiting on the horizon, it is already capable of taking over a significant slice of work that people in the United States do every day. A new wave of research from MIT argues that existing systems could technically perform tasks now done by millions of workers, putting…
AI tools are quietly reshaping office life, not just by speeding up work but by giving some employees cover to do less of it. As software takes over routine tasks and even complex analysis, a growing slice of knowledge workers are letting algorithms shoulder the load until managers notice the gap between apparent productivity and…
Ford’s top executive is issuing one of the starkest warnings yet about artificial intelligence and the future of office work, arguing that the technology will gut large swaths of white-collar employment even as it supercharges corporate productivity. His message is blunt: AI will not just streamline back offices, it will fundamentally redraw who gets paid…
Economic growth is about to lean heavily on productivity again, just as the numbers are poised to weaken and the much-hyped artificial intelligence boom is failing to deliver the lift its boosters promised. Instead of a clean efficiency revolution, early evidence shows AI adoption often slows workers down, clutters workflows and shifts gains into sales…
Merck & Co., one of the world’s oldest pharmaceutical manufacturers, is cutting 204 positions in its home state as part of a broader effort to strip out billions of dollars in costs in response to higher tariffs and mounting pricing pressure. The move shows how even a 133‑year‑old drug giant is reshaping its workforce and…