Money, Wealth & Power—A Daily Look at the Financial World
Artificial intelligence is often framed as a job destroyer, but Nvidia chief executive Jensen Huang is betting on a different outcome. He argues that as AI spreads through every industry, work will not disappear so much as it will be reshaped, leaving people with more to do, not less, even as specific tasks are automated….
Federal prosecutors say a small group of technologists and entrepreneurs turned the world’s hottest artificial intelligence hardware into contraband, routing high‑end Nvidia processors out of the United States and into China in defiance of export controls. The four defendants now face a sweeping criminal case that tests how far Washington is prepared to go to…
Bitcoin’s blistering rally to a fresh record in October has given way to a harsh reversal, with the price now roughly 30% below that peak and dragging the wider crypto market into a deep selloff. The slide has turned what looked like a new era of mainstream acceptance into a stress test of investor conviction,…
President Donald Trump has helped secure the release of a longtime U.S. resident who spent years in a Saudi prison over social media posts critical of the kingdom’s leadership. The case of Saad Almadi, a 75-year-old Florida retiree, has become a vivid test of how far Washington will go to challenge a key security partner…
Eli Lilly’s entry into the $1 trillion club has turned a century-old drugmaker into the market’s newest momentum story, powered less by traditional pharma pipelines than by a cultural obsession with weight loss. The surge in appetite for GLP-1 drugs has pushed the company into the same valuation stratosphere as the biggest technology names, forcing…
The United States has just added another trillion dollars to its tab in barely more than two months, pushing the national debt to levels that would have seemed unthinkable a generation ago. The pace of borrowing has shifted from a slow climb to a sprint, turning what was once a distant concern into an immediate…
For years, Black Friday functioned as retail’s high holy day, the moment shoppers were expected to line up, click in, and spend big. That grip is loosening as discounts spread across the calendar, consumers grow more strategic, and retailers quietly reshape their playbooks to protect profits rather than chase one-day volume at any cost. I…
Federal authorities say they have dismantled one of the largest crypto fraud operations in history, seizing roughly $15 billion in bitcoin tied to a sprawling “pig butchering” scheme. The case, centered on alleged scam compounds in Cambodia and a powerful regional business empire, marks a turning point in how the United States is willing to…
Oracle has gone from market darling to cautionary tale in a matter of weeks, with its share price sliding more than 40 percent from a September peak as investors reassess how much they are willing to pay for its artificial intelligence ambitions. The selloff has been sharp enough to rattle confidence across the broader AI…
Kroger’s retreat from Florida marks a rare admission of defeat by one of the country’s largest grocers in a state that has become a proving ground for supermarket dominance. After years of trying to crack a market defined by fierce regional loyalty and aggressive national rivals, the company is walking away from a costly experiment…
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