Money, Wealth & Power—A Daily Look at the Financial World
Steve Ballmer just absorbed one of the sharpest single-day wealth hits of any major tech billionaire, sliding from the world’s ninth-richest person to fourteenth as Microsoft stock suffered a brutal selloff. His fortune, tied overwhelmingly to the software giant he once ran, shrank by double digits in percentage terms in a matter of hours, underscoring…
Microsoft has just lived through the kind of market shock that tests even the most patient shareholders, with roughly $440 billion in value erased as investors reassessed the price of its artificial intelligence ambitions. At the center of the storm is not only the company’s own record spending on data centers and chips, but also…
Across the United States, the cost of keeping the lights on has quietly turned into a financial shock. While households watch their monthly statements climb, the companies driving the digital economy are often paying less per unit of power than they did just a few years ago. The latest Yale-linked analysis of electricity prices lays…
Gold’s vertical climb has turned a sleepy hedge into the loudest signal on traders’ screens, even as Jerome Powell insists it is not a verdict on the Federal Reserve. With bullion smashing through levels that once looked like distant tail risks, the move is too large, too fast and too globally synchronized for markets to…
Canada’s top central banker is sounding an unusually blunt alarm about the risks radiating from Washington. By warning that President Donald Trump’s trade and tariff agenda could unleash a fresh economic shock, he is effectively telling Canadians that the old assumptions about predictable cross-border commerce no longer hold. At stake is not just the next…
Canadian Prime Minister Mark Carney has used the World Economic Forum stage in Davos to argue that the U.S. led order is breaking apart and that so called middle powers must learn to live in a harsher, more transactional world. His warning is stark, but it risks obscuring a more immediate reality for Europe. For…
New York City Mayor Zohran Mamdani is trying to solve a $12 billion budget hole and reset the city’s approach to public safety at the same time. He is demanding higher taxes on the richest New Yorkers and the corporations that call the Big Apple home, while promising to dismantle the NYPD unit that polices…
Canada’s corporate establishment has delivered a rare and very public slap at Canadian Prime Minister Mark Carney, challenging his approach to managing relations with President Donald Trump. At the heart of the clash is how far Canada should go in hedging against U.S. pressure without jeopardizing an economic relationship that still underpins national prosperity. The…
President Donald Trump has spent his second turn in the Oval Office treating tariffs like a light switch, flicking them on and off in ways that unsettle allies, rattle markets and leave households paying the bill. On paper, the United States is posting solid growth and cooling inflation, yet the lived experience for many Americans…
California’s richest residents are mounting an aggressive campaign to stop a proposed wealth levy that would target fortunes at the very top of the income ladder. Tech billionaires and their allies are not only trying to kill the measure at the ballot box, they are also using the fight to reshape the state’s political landscape…