Money, Wealth & Power—A Daily Look at the Financial World
Boston’s life sciences cluster was built on the promise that if you earned a doctorate and came to Kendall Square, the jobs would be waiting. Instead, a growing number of Ph.D.s are discovering that the region’s vaunted biotech engine is stalling just as they enter the market. The result is a jarring mismatch between years…
MacKenzie Scott has become one of the most influential private donors in American public life, moving billions of dollars into nonprofits that often sit at the center of political and cultural fights. Her latest gifts, including money for a group facing federal scrutiny over alleged ties to anti-Israel activism, show how her philanthropy is colliding…
Hilton is moving quickly to separate its global brand from a Minnesota franchise that refused to host federal immigration agents, cutting ties with a suburban Minneapolis property after it canceled bookings linked to Immigration and Customs Enforcement. The decision turns a local dispute over who can stay at a hotel into a national test of…
New car buyers are confronting a market where prices are brushing against the $50,000 mark, and a new layer of tariffs is making that climb even steeper. The latest data point of $49,766 for the average transaction price comes from broadcast coverage that attributes the jump directly to a 25% levy on imported vehicles and…
Venezuela’s political crisis is colliding with a global energy system that still runs on oil, and that collision is already shaping decisions in Washington, Houston, and communities along the Gulf Coast. As turmoil deepens, the country’s vast reserves are no longer a distant geopolitical talking point but a live question for American drivers, workers, and…
United Parcel Service is undertaking the most aggressive retrenchment in its history, eliminating 68,000 jobs and closing 73 facilities as it refocuses on profitability and a leaner network. The cuts, described as the largest purge in the company’s 118-year existence, cap a multi‑year restructuring that has already reshaped how parcels move across the United States…
Cuba is entering its gravest economic crisis since the collapse of the Soviet Union, just as its most important political and energy ally in Venezuela unravels. The capture of Nicolás Maduro has not only cut a vital oil lifeline, it has also intersected with intensifying pressure from Washington, leaving Havana exposed to a perfect storm…
America’s once red-hot labor market is cooling fast. Job openings have fallen to levels not seen in years, hiring has slowed, and the balance of power between workers and employers is shifting back toward the middle. The headline numbers still look solid at a glance, but beneath the surface the engine of job creation is…
The Small Business Administration has quietly triggered the largest exclusion in its history, freezing thousands of borrowers out of future federal aid after uncovering what it says is roughly $400 million in suspect COVID relief loans. The move turns a sprawling Minnesota lending scandal into a national test of how aggressively Washington will claw back…
The United States has quietly secured a pipeline of Venezuelan crude worth up to $2 billion, locking in new barrels at a moment when Washington is trying to steer both global prices and Venezuela’s political transition. The arrangement gives US refiners access to heavy oil they know how to process, while tightening Washington’s grip on…