Money, Wealth & Power—A Daily Look at the Financial World
Rand Paul was left completely alone inside the Republican conference as the Senate approved a sweeping Russia sanctions bill, 86-11. Forty-nine Republicans voted yes. The Kentucky senator supplied the only GOP no. The lopsided result handed Paul one of the starkest defeats of his noninterventionist career and put the rest of his party behind a…
Five weeks after the Supreme Court told President Donald Trump that his first attempt to narrow birthright citizenship could not stand, he signed two more executive orders on the same subject. The documents released on the evening of August 6 do not try to relitigate the question the justices answered. They walk into the narrow…
President Donald Trump has put Canada on notice with a new 50% tariff on covered dairy imports. The action is not a vague negotiating threat: the White House set an August 19 effective date, and it arrives in a dispute that Washington says Canada has allowed to drag on long after USMCA was supposed to…
President Donald Trump spent Saturday evening telling the country that a five-month war might be winding down. In a social media post, he said Mideast allies had reached the parameters of a deal that would reopen the Strait of Hormuz and end Iran’s nuclear threat, and that he had therefore agreed to cancel a strike…
Amazon told investors that it has received roughly $600 million in refunded tariff duties, money the federal government collected under an emergency-powers program the Supreme Court struck down in February. Only part of that sum is heading back to the shoppers who absorbed the higher prices at checkout. The company says it will automatically reimburse…
Importers owed tariff refunds by the U.S. government are now being offered upfront cash buyouts worth 60 percent or more of their pending claims, feeding a secondary market that has grown to an estimated $100 billion as federal processing delays stretch on. The offers come from investors betting they can collect the full refund later,…
Defense contractor KBR plans to eliminate 758 jobs at Fort Irwin, a sprawling Army training installation in California’s Mojave Desert, according to a Worker Adjustment and Retraining Notification filed with the state. The cuts represent one of the larger single-site layoffs in San Bernardino County in recent memory and raise pointed questions about the stability…
Ford CEO Jim Farley told a podcast audience that his company has thousands of open mechanic and technician positions paying as much as $120,000 a year, yet cannot fill them because the training pipeline produces far fewer skilled workers than the industry loses. The disclosure puts a sharp number on a problem that stretches well…
The U.S. Treasury Department granted India a 30-day window to take delivery of Russian crude oil already loaded on tankers, a move that eased pressure on global oil prices by signaling flexibility in Washington’s sanctions enforcement. The Office of Foreign Assets Control issued General License 133 on March 5, 2026, authorizing the sale and offloading…
Howard Schultz, the former head of Starbucks Corp., has left Seattle for Miami after more than four decades in Washington state, relocating his family office just as state lawmakers passed a first-of-its-kind income tax on millionaires. The timing of his departure, announced the same week the bill cleared its final legislative hurdles, has turned a…
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