Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump is trying to turn his long-running feud with federal tax authorities into a multibillion-dollar payday, arguing that the government owes him $10 billion for supposedly wrecking his finances and good name. At 79, he is not just seeking personal vindication, but attempting to shift the costs of his legal and political battles…
The Trump administration is turning the federal government into a direct shareholder in a growing list of U.S. companies, from rare earth miners and chipmakers to defense contractors and housing finance giants. The strategy is framed as a way to secure supply chains and outcompete rivals, but it also hands the White House new levers…
President Donald Trump’s abrupt decision to cancel the 25 percent penalty tariff on Indian goods tied to Russian oil purchases marks a sharp turn in a dispute that had threatened to spill over into a broader trade rupture. The move, delivered through an executive order after an interim trade framework with New Delhi, recasts a…
President Donald Trump is promising that 2026 will be unlike anything the United States has ever experienced, pairing warnings about upheaval with confident predictions of a long economic “miracle.” His message is equal parts alarm and opportunity: brace for disruption, but also position yourself to ride what he casts as a generational boom. The real…
The S&P 500’s communication services heavyweights just delivered the kind of quarter portfolio managers dream about: a perfect run of earnings beats across all seven index constituents. The sweep caps a broader reporting season in which profits are rising across most sectors, but the communications cohort stands out for pairing double digit growth with visible…
Grocery aisles across the United States have turned into sticker-shock zones, with shoppers watching familiar staples jump in price from one week to the next. What looks like a sudden crisis at the checkout is actually the visible edge of a deeper storm, where climate shocks, global grain tensions and aggressive trade policy are converging…
Elon Musk has never been shy about apocalyptic warnings, but his latest is unusually stark. He now insists the United States is “1,000%” headed for bankruptcy unless artificial intelligence and robots turbocharge growth fast enough to outrun the federal government’s swelling interest bill. With the national debt at $38.56 trillion and annual interest costs already…
Big Tech is preparing to pour roughly $650 billion into artificial intelligence this year, a single-year outlay that now eclipses what the United States spent on sending humans to the Moon. Project Apollo cost $25.8 billion between 1960 and 1973, which translates to hundreds of billions of dollars in today’s terms, yet the current AI…
President Donald Trump promised that his corporate tax overhaul would unleash a wave of investment and jobs. Buried in the fine print, it also delivered a quiet windfall to one of the country’s most powerful companies, Amazon, by sharply reducing what the retailer owes the federal government. The result is a multibillion dollar shift in…
Elon Musk has quietly handed over nearly $100 million in Tesla stock to charity, a move that instantly vaulted him into the upper tier of American givers for the year and trimmed a sliver off his vast fortune. The gift, disclosed only through regulatory paperwork, arrived at the very end of 2025, just as his…