Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump’s early 2025 executive order calling for a U.S. sovereign wealth fund set off a chain of events that has quietly reshaped the U.S. International Development Finance Corporation, a federal agency originally designed to support overseas development. What began as a 90-day planning exercise for a new national investment vehicle has instead become…
Federal prosecutors have charged 11 defendants in what the Department of Justice calls the largest health care fraud case by loss amount in its history, alleging a Russia-based criminal network used Texas-based durable medical equipment suppliers to submit $10.6 billion in fraudulent Medicare claims. The scheme, dubbed Operation Gold Rush, relied on stolen identities from…
Taiwan’s government has flatly refused to reopen the terms of its recently signed trade agreement with the United States after a Supreme Court ruling limited presidential tariff authority. Vice Premier Cheng Li-chiun told reporters that preferential tariff treatment for Taiwan’s exports, set at 15 percent under the arrangement with Washington, will not change. The comments…
Home Depot reported fourth-quarter results on February 24, 2026, revealing that American homeowners have pulled back sharply on big renovation projects as housing affordability and job-security worries intensify. The nation’s largest home-improvement retailer posted $38.2 billion in quarterly sales, a 3.8% year-over-year decline, while comparable sales barely moved. The results, paired with a housing market…
CAVA Group Inc. reported fourth-quarter and full-year fiscal 2025 results, and executives told analysts the company is seeing strong same-restaurant sales growth alongside higher guest traffic. On the earnings call, management said guests appear to be moving away from deal-seeking behavior and are more willing to pay full price. The fast-casual Mediterranean chain’s earnings call…
Uber announced a new business unit called Uber Autonomous Solutions on February 23, 2026, designed to speed the integration of self-driving vehicles into its ride-hailing and delivery networks worldwide. The move comes as Waymo, the Alphabet-owned robotaxi operator, continues expanding driverless service across Los Angeles under permits granted by the California Department of Motor Vehicles….
T-Mobile has opened its Starlink-powered satellite texting beta to all U.S. wireless customers, including those on AT&T and Verizon, at no charge through July 2025. The move is a calculated attempt to use a free trial as a customer acquisition tool, betting that once rival subscribers experience satellite connectivity in dead zones, they will be…
Steel tariffs first imposed in 2018 under Section 232 national security authority have delivered a split outcome for American manufacturing: a modest rebound in steel mill employment alongside broader job losses in the factories that buy that steel. The tension between protecting a single upstream industry and the health of the wider manufacturing base has…
Russia’s small business sector is bracing for tax changes that took effect on January 1, 2026, including a lower revenue threshold that determines when firms using the simplified tax system must register for and pay value-added tax (VAT). According to reporting by the Associated Press and Reuters, the measures are part of a broader push…
Public Storage, the largest self-storage operator in the United States, is moving its corporate headquarters from Glendale, California, to Frisco, Texas. The shift, documented in federal securities filings and Texas state construction records, adds one of the country’s most recognizable real estate investment trusts to the growing roster of major companies that have relocated their…