Money, Wealth & Power—A Daily Look at the Financial World
Holiday shopping season is now peak season for tax fraud, and the Internal Revenue Service is warning that criminals are working just as hard as retailers in the final stretch before Christmas. Instead of chasing deals, these scammers chase Social Security numbers, bank details and login credentials they can use to hijack refunds and steal…
Ford is recalling nearly 109,000 sport-utility vehicles in the United States after regulators warned that a small plastic part on the rear liftgate could turn into a serious safety hazard. The move underscores how even a seemingly minor trim piece can trigger a sweeping safety campaign when it risks injuring people or distracting drivers on…
Financial markets are bracing for a profound shift at the top of the United States central bank as President Donald Trump signals he is close to naming a new Federal Reserve chair. With investors increasingly convinced that Trump will choose a loyalist who shares his impatience for lower interest rates, anxiety is building across bonds,…
Meta’s ad machine is under fresh scrutiny after internal projections suggested that a double digit share of its 2024 revenue could be tied to scams and banned products, a slice of business worth tens of billions of dollars. The numbers raise a stark question about whether one of the world’s most powerful advertising platforms has…
The United States is discovering what happens when its most reliable visitors decide to stay away. A sustained boycott by Canadian travelers is stripping billions of dollars out of U.S. tourism and Retail, and the ripple effects are beginning to reshape border economies on both sides. What looks like a quiet personal choice by individual…
The latest round of royal intrigue hinges on a bold claim: that King Charles personally moved to stop Meghan Markle from building a lifestyle empire supposedly valued at hundreds of millions of dollars because of how she uses her titles. The allegation has raced across social media and gossip sites, but the available reporting paints…
Amazon’s decision to close a massive fulfillment hub in Arkansas has abruptly erased 4,100 warehouse jobs and rattled a regional economy that had banked on long term growth from the e commerce giant. The shutdown of the Little Rock operation, part of a $3.4 billion logistics complex, is more than a corporate restructuring, it is…
The Federal Reserve has cut interest rates for the third straight meeting, bringing borrowing costs to their lowest level since 2022 and signaling that the bar for any further easing is now significantly higher. The move caps a year in which policymakers tried to thread the needle between cooling inflation and avoiding unnecessary damage to…
UBS is preparing another deep round of cost cutting that could put up to 10,000 more roles at risk as it absorbs Credit Suisse and aligns itself with a harsher 2025 banking landscape. The planned reductions would extend a restructuring that is already reshaping one of Europe’s most important financial institutions and sending a fresh…
The Trump administration’s Education Department is now asking hundreds of employees it tried to push out to come back and help clean up a mounting civil rights backlog. The unusual recall request, aimed at former staff in the agency’s Office for Civil Rights, exposes how a politically driven downsizing collided with the legal obligation to…