Money, Wealth & Power—A Daily Look at the Financial World
Alphabet has just pulled one of the boldest financial levers in Big Tech, selling $20 billion of bonds to bankroll the next phase of its artificial intelligence buildout. The package includes a rare 100-year security, a structure more common for governments than for corporations, and it lands just as the company prepares to more than…
Bitcoin has fought its way to a roughly $1.4 trillion market capitalization, turning what began as a cypherpunk experiment into a macro asset that now sits alongside gold and big tech in many portfolios. Yet the same scale that once looked like an unassailable moat is starting to resemble a target, as policymakers, asset managers,…
California’s energy debate has shifted from theory to countdown. Senate Minority Leader Brian W. Jones, Governor Gavin Newsom and Republican Congressman Vince Fong are all pointing to the same looming event: Valero’s plan to shut at least one California refinery and prepare to leave the state by 2026. Their fight is no longer about abstract…
The latest Job Openings and Labor Turnover Survey from the U.S. Bureau of Labor Statistics suggests that headline payroll numbers may be missing a growing share of job losses. While the official unemployment rate still looks relatively steady, the churn in hiring, openings, and separations points to a softer labor market than many workers experience…
The One Big Beautiful Bill Act was pitched as a clean solution to years of policy gridlock. Supporters argued that one sweeping package could resolve fights over taxes, safety net programs, and public investment all at once. Signed into law by President Trump on July 4, 2025, it now carries a very different label from…
Bank of America has quietly warned that the story investors are telling themselves about this market may be incomplete. In a research note on the Q4 2025 earnings season, the bank’s analysts flagged four big themes that, taken together, point to rising risk rather than smooth sailing. The headline items are artificial intelligence spending and…
Vertiv has become one of the clearest stock-market proxies for the AI infrastructure boom, and its latest quarter shows why. The Nvidia partner reported a surge in orders and profit that points to deep demand for the power and cooling gear behind high-end data centers. Management also laid out a 2026 product roadmap tied to…
Wall Street traders spent Wednesday torn between celebration and second thoughts after a blowout U.S. jobs report sent stocks sharply higher before a choppy late-session drift. The strong hiring data jolted expectations for how quickly the Federal Reserve might cut interest rates, turning what looked like a straightforward rally into a debate over whether good…
Jeremy Grantham has spent decades warning investors when markets drift away from reality, and his latest signal is blunt: he thinks U.S. stocks face serious trouble. His long-term valuation models, combined with his public comments on an emerging artificial-intelligence bubble, now point in the same direction. Taken together, they send a clear message that a…
New York City Mayor Zohran Mamdani is now telling New Yorkers that the city’s budget crisis is “not as bad as initially thought,” only weeks after he warned of a looming fiscal cliff and pushed hard for new taxes on the wealthy and on businesses. In late January, he described a massive deficit and said…