Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump is betting that six-figure paychecks and marquee tech partners can lure elite engineers into government service, at least for a while. The new US Tech Force promises salaries that rival Big Tech and a fast track into influential roles, even as critics warn it looks less like a public service corps and…
Boston’s life sciences cluster was built on the promise that if you earned a doctorate and came to Kendall Square, the jobs would be waiting. Instead, a growing number of Ph.D.s are discovering that the region’s vaunted biotech engine is stalling just as they enter the market. The result is a jarring mismatch between years…
United Parcel Service is undertaking the most aggressive retrenchment in its history, eliminating 68,000 jobs and closing 73 facilities as it refocuses on profitability and a leaner network. The cuts, described as the largest purge in the company’s 118-year existence, cap a multi‑year restructuring that has already reshaped how parcels move across the United States…
Apple TV spent blockbuster money on a prestige drama, then pulled the plug in barely more than two weeks, leaving crews and local vendors scrambling. The abrupt decision to kill a roughly $150 million production after just 17 days of release has become a flashpoint in a broader debate over how the streamer treats its…
The last big Budweiser outpost in the Bay Area is going dark after a reported $54 million hit, ending a half century of industrial-scale beer making in Fairfield and leaving a hole in the region’s manufacturing map. The shutdown of the Fairfield Budweiser brewery is more than a corporate cost-cutting move, it is a turning…
The trade war that President Donald Trump launched as a political signature is now colliding with one of America’s most recognizable bourbons. Jim Beam is halting production at a key Kentucky distillery for a full year, a decision that puts roughly 1,500 Kentucky jobs in the crosshairs and exposes how tariffs can rattle even a…
Cracker Barrel is facing a reckoning that reaches into every corner of its dining rooms and back-of-house prep lines. A crisis touching all 660 locations is forcing the company to rethink how it operates, and the first people feeling the strain are the workers who keep those stores running. The chain’s financial squeeze is no…
Jack in the Box is embarking on one of the most aggressive retrenchments in its history, shutting 200 restaurants after reporting an $81 million loss and putting 4,000 jobs on the line. The cuts concentrate heavily in California, Texas, and Arizona, and they mark a sharp reversal for a chain that only recently touted new…
The decision by General Motors to shutter a $102 million factory and cut 1,700 jobs has hit a single Midwest community with the force of a rolling blackout, darkening paychecks, tax bases, and local confidence all at once. The move is part of a broader retrenchment in the company’s electric vehicle strategy, but on the…
Bank of America is sifting through a tidal wave of Gen Z job seekers, and only a tiny fraction are making it through. Chief executive Brian Moynihan says the bank selected 2,000 recent graduates from a pool of 200,000 applications, a ratio that captures just how unforgiving the entry-level market has become. For many young…