BlackRock’s latest hit in private credit has become a stress test for an entire corner of global finance that usually prefers to operate out of sight. A sharp markdown at BlackRock TCP Capital and a separate 100% loss on a private loan have jolted investors who had treated this opaque asset class as a relatively…

Across the American West, the winter economy that depends on deep snow and reliable cold is buckling under a season that looks more like late March than midwinter. From Colorado to New England, resort operators and small shop owners describe a brutal crunch in which lifts sit idle, hotel rooms go empty, and the bills…

Inflation is supposed to be the great leveler, but in the aisles of Walmart it is sorting shoppers into winners and losers. As everyday customers stretch paychecks to cover rent and groceries, the retailer is quietly turning into a destination for households that once treated it as a last resort. The result is a company…

Oil is back in the geopolitical danger zone. Benchmark prices have jumped to a six month high as traders rapidly price in the risk that the United States could launch strikes on Iran, turning a tense standoff into a direct confrontation. The move has revived fears of a supply shock at a moment when global…

The dollar’s slide has been swift and politically charged. Over the past year, the U.S. currency has dropped about 10% against a basket of major peers, and President Trump is publicly cheering the move as “great” for America. I see a more complicated picture, one where exporters may celebrate but households face higher prices, thinner…

The chorus of experts who anticipated the 2008 meltdown is growing louder again, and this time their warnings point to a shock that could eclipse the last crisis. Several of the economists who built their reputations by flagging the housing bust and its fallout now argue that the United States faces a deeper, more systemic…

New York City Mayor Zohran Mamdani is trying to solve a $12 billion budget hole and reset the city’s approach to public safety at the same time. He is demanding higher taxes on the richest New Yorkers and the corporations that call the Big Apple home, while promising to dismantle the NYPD unit that polices…

Canada’s corporate establishment has delivered a rare and very public slap at Canadian Prime Minister Mark Carney, challenging his approach to managing relations with President Donald Trump. At the heart of the clash is how far Canada should go in hedging against U.S. pressure without jeopardizing an economic relationship that still underpins national prosperity. The…

President Donald Trump has spent his second turn in the Oval Office treating tariffs like a light switch, flicking them on and off in ways that unsettle allies, rattle markets and leave households paying the bill. On paper, the United States is posting solid growth and cooling inflation, yet the lived experience for many Americans…