Money, Wealth & Power—A Daily Look at the Financial World
New York City’s new mayor, Zohran Mamdani, has staked his political brand on a sweeping four-year rent freeze for nearly one million regulated apartments. The promise taps into real pain for tenants, but it also collides with a property tax system that already leans heavily on multifamily buildings. If City Hall holds rents flat while…
President Donald Trump has turned a controversial industrial policy experiment into a personal talking point, boasting that his administration “picked up” a multibillion dollar stake in Intel at a bargain price. The brag hinges on a simple story: taxpayers put cash into a struggling chipmaker, the stock surged, and the paper gains now look enormous….
Tax season 2026 is shaping up to be unusually lucrative for households, and that extra cash will not sit idle. A sweeping tax package is set to lift average refunds by roughly $1,000 per household, creating a powerful, time‑boxed jolt to consumer spending. I expect that surge to ripple quickly through specific corners of retail,…
President Donald Trump is racing to rebrand himself as a cost-of-living crusader, rolling out a fresh “affordability” playbook just as frustration over high prices hardens into a defining political threat. The agenda promises cheaper housing, lighter credit-card bills, and relief from everyday debt, but its mix of populist targets and Wall Street-friendly tweaks is already…
OpenAI has become the emblem of the artificial intelligence boom, yet some of the people paid to scrutinize balance sheets now argue its business model looks dangerously fragile. As one top asset manager warns that the company is “likely headed for financial disaster,” the debate is shifting from whether AI will transform the economy to…
Micron has officially begun work on a vast semiconductor campus in central New York, a project framed as both an industrial revival and a generational jobs engine. The company and state leaders are tying the $100 billion buildout to a promise of roughly 49,000 high paying positions when direct hires and surrounding growth are counted….
Investors spent the past two years bidding up anything with a whiff of artificial intelligence, but the software names that were supposed to be the biggest winners are suddenly out of favor. The same companies that power corporate workflows, cybersecurity and cloud management are now trading like yesterday’s story as money chases chipmakers and flashy…
Investors are staring at a rare pairing of big numbers and bigger promises: a global robotaxi market projected to reach $105 billion by 2035 and forecasts that Tesla could be worth as much as $3 trillion as soon as 2026. The stakes are obvious, but the path from today’s experimental fleets to that kind of…
Amazon is preparing to cut another wave of corporate jobs, putting thousands of white-collar workers on notice as the company reshapes itself for a slower growth era. The latest restructuring targets roughly the same scale as the mass layoffs that hit its offices last year, signaling that the reset inside one of the world’s largest…
When KPMG cut the ribbon on its $450 million Lakehouse complex in Orlando, the firm expected a bustling corporate campus, not a pandemic-era ghost hotel. The $450 m project, the largest capital bet in the firm’s 120-year history, was quickly branded a Covid boondoggle as travel froze and classrooms sat empty. Today, that same site…
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