Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump is suing the Internal Revenue Service and the Treasury Department for at least 10 billion dollars, even as he sits atop the very government he is trying to force to pay him. The case, built around the leak of his tax records, has now collided with basic questions of conflict of interest,…
Greg Abel has wasted little time putting his stamp on Berkshire Hathaway, quietly unloading a long-favored holding that Warren Buffett once championed. The move, coming just as Abel settles into the top job, signals that the long era of “do nothing” loyalty to legacy positions is giving way to a more active, even unsentimental, approach…
Larry Ellison and Jeff Bezos have become the most visible casualties of a sharp reset in investor expectations for artificial intelligence, with more than $66 billion in paper wealth erased from their fortunes in a matter of weeks. The rout has hit precisely the companies that spent the past two years selling Wall Street on…
President Donald Trump has signed a new order that dramatically expands how much low-tariff Argentine beef can enter the United States, effectively quadrupling the quota for cheaper imports. The move is framed by the White House as a way to keep burgers and other beef products affordable at a time of tight domestic supply, but…
Oil markets are entering 2026 with a paradox that should worry drivers as much as drillers: forecasts point to a glut of crude, yet a leading economist is warning that a financial squeeze on Big Oil could still choke future supply and send gasoline prices sharply higher. The tension between today’s comfortable inventories and tomorrow’s…
The United States just watched a wave of clean energy investment evaporate. Companies walked away from more than $34 billion worth of projects, shelving factories, wind farms, solar arrays, and battery plants that were supposed to anchor the next generation of the power system. The result is a sudden reversal in a sector that had…
Tech’s biggest companies are treating social feeds like prime-time TV, dangling checks of $500,000 and more to turn popular creators into AI pitchmen. Yet even as the offers climb toward $600,000 per deal, a growing group of top influencers is walking away, convinced that short term cash is not worth the long term risk to…
American cars are being rapidly reengineered from the inside out as regulators move to cut Chinese software and electronics out of the nation’s vehicle fleet. What started as a quiet reliance on low cost code and components has become a high speed effort to rewrite the digital guts of everything from family SUVs to luxury…
More than $1 trillion in market value has evaporated from the world’s largest technology companies in a matter of days, as investors abruptly reassess how much artificial intelligence growth they are willing to pay for. At the center of the rout is Amazon, which has seen nearly $240 billion wiped from its valuation after unveiling…
Ford’s brief brush with Xiaomi this winter did not produce a $100 billion pact or a secret Trojan horse, but it did expose how fragile today’s protectionist walls really are. A single report about exploratory talks between a Detroit mainstay and a Chinese tech powerhouse was enough to ignite fears that industrial policy can be…
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