Money, Wealth & Power—A Daily Look at the Financial World
Peter Schiff has spent years warning that Bitcoin is structurally fragile, but his latest argument raises the stakes: he now suggests that only a government backstop could prevent a brutal reckoning for holders. The idea that the flagship cryptocurrency might one day depend on the very institutions it was designed to bypass cuts to the…
Financial markets have spent much of the autumn doubting that The Fed would move again this year, but the balance of evidence has shifted in favor of another cut at the coming meeting. A combination of softer data, rising concern about the labor market and a notable change in tone from key policymakers now points…
Elon Musk has pushed his net worth to a level no individual has previously reached, turning a once-hypothetical benchmark into a concrete figure that now defines the upper edge of personal wealth. His fortune, driven largely by surging valuations at Tesla and SpaceX, has not only eclipsed prior records but has also sharpened the debate…
General Motors is hitting the brakes on one of its most ambitious electric-vehicle investments and shedding thousands of factory jobs, a sharp reset that cuts across assembly lines and battery plants in several states. The company is pausing construction on a multibillion-dollar battery megafactory while eliminating more than 3,000 positions tied to its EV rollout,…
Republican criticism of President Donald Trump’s approach to Ukraine is no longer confined to quiet grumbling in closed-door meetings. It has broken into the open, with one GOP lawmaker warning that Trump’s choices now risk staining the very legacy he has tried to build on strength and resolve. That warning, coming from inside his own…
The latest clash inside the West Wing is not about policy or personnel, but about paint, paneling and power. President Donald Trump’s push for a sweeping Oval Office makeover has run into firm resistance from his own team, turning what might have been a routine refurbishment into a revealing test of how far aides are…
The corporate empire built around Jack Nicklaus’ name is now seeking court protection from its namesake’s courtroom victory. After a Florida jury awarded the golf legend a massive defamation judgment, Nicklaus Companies LLC has filed for Chapter 11, a dramatic turn that pits a storied brand against the man whose reputation it was created to…
President Donald Trump is still a billionaire many times over, but his latest financial disclosure shows a sharp reversal from the highs he enjoyed over the past year. After a surge that made him significantly richer since 2024, his estimated fortune has now fallen by $1.1 billion, a swing that underscores just how volatile his…
Texas trucking and logistics employers are shedding jobs at a pace that is reshaping how freight moves across the state, from oilfield runs to tech-enabled urban routes. Instead of a single dramatic collapse, a series of shutdowns, bankruptcies and deep layoffs has left thousands of drivers, dispatchers and warehouse workers facing uncertain futures. I see…
Warren Buffett’s decision to step back from the chief executive role at Berkshire Hathaway is being read across corporate America as a rare example of a founder-style leader exiting on his own terms while leaving a durable structure behind. For Fortune 500 boards wrestling with aging icons, activist pressure, and restless investors, the Berkshire playbook…
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