Money, Wealth & Power—A Daily Look at the Financial World
President Trump’s administration is moving ahead with a sweeping change to the federal workforce that could strip job protections from tens of thousands of civil servants. By reviving and expanding a Trump-era classification, the White House is giving agencies a faster path to remove employees in key policy roles, potentially affecting roughly 50,000 positions across…
Budget carriers are racing to grab market share in the United States with a fresh barrage of routes and teaser fares that start as low as $39, even as some rivals slash schedules and retreat from smaller cities. The latest expansion drive is turning secondary airports and mid-sized metros into battlegrounds, with new links to…
Senator Elizabeth Warren is escalating her long‑running fight over President Donald Trump’s economic outreach to Argentina, urging Treasury Secretary Scott Bessent to scrap a $20 billion currency swap line that she argues exposes U.S. taxpayers to unnecessary risk. Her demand lands just as Washington and Buenos Aires are celebrating a new trade and investment pact,…
Donald Trump’s push to secure fresh money for his media venture has collided with a Washington fight that suddenly gives Democrats leverage they rarely enjoy in the Trump era. As the president’s allies try to protect his financial interests and broader economic agenda, a messy clash over immigration and Homeland Security funding has opened a…
Bitcoin’s latest plunge has dragged the broader crypto market into a fresh wave of forced selling, wiping out much of the post‑election euphoria and pushing prices back toward levels last seen before Donald Trump returned to the White House. At the same time, XRP is sliding hard despite the presence of a dedicated ETF, underscoring…
Software investors have been hit by a kind of whiplash that even seasoned tech traders are calling historic. After years of paying up for predictable subscription revenue, the sector has dropped roughly 30% in a matter of months as artificial intelligence suddenly looks less like a tailwind and more like an existential threat. Under the…
Elon Musk is turning the war for AI talent into a direct raid on Wall Street and the crypto trading floor, dangling cash, equity and even cars to pull specialists into his orbit. His xAI venture is not just hiring engineers, it is recruiting investment bankers and digital asset pros to literally teach its models…
President Donald Trump has never been shy about big numbers, but his boast that his trade and industrial policies have secured at least 18 trillion dollars in foreign investment commitments pushed even sympathetic economists to the breaking point. The figure is so out of scale with the real global economy that one prominent analyst has…
Volvo’s worst trading day on record has turned a simmering tariff dispute into a full-blown corporate crisis. The Swedish carmaker’s stock collapsed by roughly a quarter after fresh U.S. import duties and a sharp profit slump exposed how vulnerable its American business has become. The selloff wiped out billions in market value in a single…
California is moving to shift the financial burden of climate disasters from homeowners and taxpayers to the fossil fuel giants that helped drive the crisis. A new proposal at the Capitol would open the door to sweeping lawsuits, letting the state recover billions in wildfire, flood, and storm costs from the oil and gas industry….