Money, Wealth & Power—A Daily Look at the Financial World
At the 2026 Munich Security Conference, Rep. Alexandria Ocasio-Cortez pitched a progressive economic vision on a global stage, only to face pointed pushback from an Argentine lawmaker who had watched a similar wealth-tax experiment falter in her own country. The exchange between the New York Democrat and Argentine Deputy Daiana Fernandez Molero exposed a fault…
A proposed constitutional amendment to abolish all real property taxes in Ohio has cleared its first legal hurdle, forcing a hard question that homeowners, renters, and local officials alike will have to answer: if the state eliminates billions of dollars in property tax revenue, how much more would Ohioans need to pay in income taxes…
General Mills Inc. cut its financial outlook after Chief Executive Jeff Harmening warned that inflation, reductions to SNAP benefits, and geopolitical uncertainty are squeezing American households to the breaking point. The announcement dragged shares of the Cheerios maker lower and amplified a broader sell-off across the packaged food sector, where executives are now openly acknowledging…
Apple has scheduled a press event for March 4, 2026, and Apple-focused reporting expects it to feature at least one lower-priced product. Rumors have also pointed to a budget MacBook for spring 2026, and some coverage has speculated that Apple could extend its new “e” branding to a future entry-level iPhone. The history of Apple’s…
Goldman Sachs is raising concerns that deteriorating labor market conditions continue to shadow the broader U.S. economy, pointing to a surge in mass layoff filings as evidence that official employment statistics may be lagging behind reality. The investment bank argues that WARN Act notices, which companies must file before large-scale job cuts, function as a…
Harley-Davidson is preparing significant workforce reductions as part of a broad operational reset under CEO Artie Starrs, who took the helm just months ago amid falling sales, mounting losses, and activist pressure on the company’s board. The cuts come as the iconic motorcycle maker reported its core division slipped into the red for fiscal year…
California Democrats are advancing a renewed push to study mileage-based road charges as the state’s transportation funding model shows deepening cracks. The Motor Vehicle Account, which bankrolls the California Highway Patrol and Department of Motor Vehicles, faces a structural imbalance that analysts warn could tip into insolvency beginning in 2025-26. With multi-year deficits constraining Sacramento’s…
Federal prosecutors have charged three former top executives of Tricolor Holdings, a now-bankrupt subprime auto lender, with orchestrating an alleged bank fraud scheme that prosecutors say deceived multiple financial institutions and led to hundreds of millions of dollars in losses. The case, unsealed in Manhattan federal court, centers on accusations that the company’s leadership systematically…
Los Angeles city leaders approved a fiscal year 2025-26 budget that reduces some homelessness program funding while redirecting scarce dollars toward rising legal liabilities. The cuts hit services like mobile hygiene units and housing initiatives as officials also cite mounting legal costs and other mandated spending pressures in explaining the budget squeeze. The result is…
The frozen food aisle, long considered a reliable profit center for consumer packaged goods companies, is showing signs of serious financial strain. Major corporations are writing down the value of frozen brands, divesting entire product lines at a loss, and restructuring operations in ways that suggest smaller and mid-tier players face even steeper odds of…