Money, Wealth & Power—A Daily Look at the Financial World
Bernie Sanders rallied supporters at The Wiltern in Los Angeles, throwing his weight behind a proposed one-time 5% wealth tax on California billionaires and declaring that for the ultra-rich, “enough is never enough.” The initiative, formally tracked as a constitutional amendment under Initiative 25-0024A1, would affect roughly 200 people and direct the vast majority of…
The U.S. dollar has lost roughly 10% of its trade-weighted value over the past 12 months, and President Trump is publicly celebrating the slide. That tension between a weakening currency and White House enthusiasm sits at the center of a growing debate about what the drop actually means for American households, including grocery bills and…
JPMorgan Chase CEO Jamie Dimon has put the odds of a U.S. recession at roughly 50%, warning that the sweeping tariffs launched under the “Liberation Day” trade policy are both inflationary and a drag on growth. With the latest federal inflation data showing prices still climbing and the Federal Reserve flagging tariff-related risks to the…
Sam Altman used a high-profile appearance in New Delhi to call out a growing corporate tactic: blaming artificial intelligence for job cuts that were already on the chopping block. Speaking at the India AI Impact Summit, he said some companies are engaging in “AI washing,” invoking the technology as cover for layoffs they would have…
Mohamed El-Erian, the former chief executive of PIMCO, warned that Blue Owl Capital’s decision to permanently halt redemptions at a private credit fund aimed at retail investors carries echoes of the 2008 financial crisis. The fund, which had offered quarterly tender offers, will instead shift to quarterly return-of-capital distributions as its assets are sold down…
The claim that President Donald Trump’s tariffs cut the U.S. trade deficit by 78 percent has circulated widely in political commentary, but federal data tells a starkly different story. The Bureau of Economic Analysis reported that the annual 2025 goods-and-services trade deficit came in at $901.5 billion, down just 0.2 percent from $903.5 billion in…
Walmart is changing how its members check out in stores, and the update is designed to eliminate one of the most common frustrations in retail: waiting in line. The retailer’s Mobile Scan and Go feature lets Walmart+ members use their phones to scan items as they shop, then complete payment at a self-checkout kiosk in…
Hycroft Mining Holding Corporation shares rose about 30% in trading after the Nevada-based gold and silver explorer disclosed a 55% jump in mineral resources at its Hycroft Mine. The updated estimate, effective January 21, 2026, puts measured and indicated resources at 16.4 million ounces of gold and 562.6 million ounces of silver, and it also…
Toyota, the world’s largest automaker by volume, sold only a sliver of battery-electric vehicles relative to its massive global output in 2024, even as competitors raced to scale EV production. The gap is not accidental. It reflects a deliberate corporate strategy that prizes hybrids and a spread of powertrain technologies over a singular bet on…
Circle Internet Group filed a Form S-1 registration statement with the Securities and Exchange Commission, setting the stage for a public listing that could put the USDC stablecoin issuer under intensified scrutiny from Wall Street investors and regulators. The filing arrives as stablecoin balances have grown into a scale that policymakers and fixed-income markets are…
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