Money, Wealth & Power—A Daily Look at the Financial World
Norway’s $2.2 trillion oil fund has started to quietly cut back its exposure to the American tech behemoths that helped power its recent windfall gains. The shift is subtle in percentage terms but significant in signal, given the fund’s status as the world’s largest single equity investor and a bellwether for institutional risk appetite. After…
Europe is pouring unprecedented public money into technology and infrastructure in a bid to close the gap with the United States, but the race is as much about rewiring power as it is about spending. The European Union is trying to turn industrial policy, digital regulation, and energy security into a single strategy that can…
Canada has quietly assembled a playbook that strikes at the core of President Donald Trump’s political identity, the American auto industry. By tightening tariffs on United States vehicles while cutting fresh deals with Asian manufacturers, Ottawa is turning Trump’s signature protectionism back on itself and testing how far Washington will go to keep its northern…
Microsoft just suffered the kind of market jolt that forces investors to rethink their most comfortable assumptions. After years of being treated as the safest way to bet on cloud and artificial intelligence, the company’s stock logged its sharpest single-day fall since 2020 as growth in its core cloud business cooled and its AI spending…
Microsoft’s sudden stock slump has turned a long-simmering worry into a flashing red warning light for artificial intelligence investing. A company that was treated as the safest way to ride the AI wave just erased hundreds of billions of dollars in value in a matter of hours, exposing how fragile the story can look once…
Software investors just watched a market darling turn into the face of a selloff. ServiceNow’s double‑digit slide has become shorthand for a broader rout in enterprise software, as traders suddenly price in the risk that artificial intelligence could compress margins, shorten product cycles, and upend long‑standing subscription models. The move has pushed a wide swath…
Investors just watched two of the world’s most closely watched tech giants move in opposite directions. Meta stock rocketed higher while Microsoft slumped, even though both companies are pouring money into artificial intelligence and reporting solid headline numbers. The split is less about who is “winning” AI and more about how clearly each company is…
The United States is racing to build a new fleet of gas-fired power plants to feed artificial intelligence, turning server farms into one of the most powerful forces reshaping the grid. The boom promises faster chatbots and smarter cars, but it also locks in decades of fossil fuel use at the very moment scientists say…
Microsoft’s latest earnings jolt has turned a long‑running wobble in software into a full‑blown rout, wiping out hundreds of billions of dollars in market value and pushing the sector into a classic bear market. The company beat Wall Street’s headline expectations, yet its heavy spending on artificial intelligence infrastructure and a softer cloud outlook were…
New York City’s new mayor, Zohran Mamdani, is opening his term with a blunt message to the richest residents and corporations: the city’s $12 billion budget hole will be filled from the top. He is demanding higher taxes on wealthy New Yorkers and large firms to stabilize services and undo what he brands as a…