Money, Wealth & Power—A Daily Look at the Financial World
Gold prices slid sharply this month, falling below $5,000 an ounce from late-January record highs, rattling traders who had grown accustomed to a relentless rally. Billionaire Thomas Kaplan, chairman of NovaGold Resources and one of the most vocal gold bulls in the investment world, is telling anyone who will listen that the pullback is a…
New federal data and central bank research show that the job market has cooled for recent U.S. college graduates, tightening the search for entry-level roles just as a new class leaves campus. The squeeze is especially severe for graduates in lower-paying majors, who are entering a weak hiring cycle with smaller financial cushions than peers…
Bank of America Corp. is putting $25 billion of its own capital behind private credit deals, according to an internal memo reported by Bloomberg and Reuters. The move is a strategic bet that the bank can compete more directly with non-bank lenders that have dominated private credit in recent years. The size of the allocation…
The Supreme Court ruled 6-3 on February 20, 2026, that the International Emergency Economic Powers Act does not authorize the tariffs imposed by the Trump administration, striking down most of those levies in a single decision. The ruling immediately raised a question worth tens of billions of dollars, who gets the money back? The answer,…
Google CEO Sundar Pichai announced a $15 billion investment to build an AI hub in Visakhapatnam, India, on October 14, 2025, placing one of the largest single corporate bets on artificial intelligence infrastructure outside the United States. The commitment, spanning five years from 2026 to 2030, includes gigawatt-scale data center operations and a new international…
Whirlpool is cutting hundreds of jobs at its Amana, Iowa, facility effective March 9, 2026, adding to a growing wave of factory layoffs that has drawn sharp criticism from lawmakers on both sides of the aisle. The cuts come as Democratic Rep. Ro Khanna of California has sounded the alarm over more than 4,100 factory…
A growing chorus of fiscal analysts is warning that the United States faces a debt-driven economic reckoning, with federal deficits projected to balloon over the next decade even as stock indexes hover near record highs. The Congressional Budget Office released its latest ten-year outlook in February 2026, projecting that federal deficits and debt will worsen…
Regulators and law enforcement are warning that criminals are turning routine deliveries into an easy way to steal money and personal data. Fake shipping alerts sent by text have become the most common text-based scam reported in the United States, and they are arriving during peak shopping periods when consumers expect a constant flow of…
Global investors are pulling money out of U.S. assets at an accelerating clip, turning what was once an unshakable “buy America” consensus into a broad retreat. Treasury data shows cross-border capital flows swung from a $14.2 billion net outflow in April 2025 to a $77.8 billion net inflow by June, but the headline number masks…
New York City Mayor Zohran Mamdani has staked his fiscal year 2027 budget on a high-risk bet: convince Albany to authorize new taxes on millionaires and corporations, or fall back on a steep property tax increase that his own administration admits would punish working- and middle-class residents. The preliminary budget, released in mid-February, frames this…