Money, Wealth & Power—A Daily Look at the Financial World
OpenAI CEO Sam Altman dismissed SpaceX’s proposal for orbital data centers as “ridiculous” during a public interview in New Delhi, drawing a sharp line between his company’s ground-level AI infrastructure strategy and Elon Musk’s interest in moving computing power into space. The remark came as SpaceX seeks federal approval to place up to 1 million…
Nvidia is making an aggressive bid to reassert itself as the central processing intelligence inside personal computers, combining new Blackwell-based GeForce RTX 50 Series hardware with a software layer designed to turn every CUDA-equipped GPU into an AI engine. The strategy goes beyond faster frame rates in games. By pairing raw silicon power with standardized…
Treasury Secretary Scott Bessent has accused the Federal Reserve of running annual losses of more than $100 billion and of operating under a statutory framework that limits independent audits of key monetary policy decisions. The criticism surfaced in mid-2025 coverage and resurfaced in reporting on his Feb. 4, 2026, congressional testimony, as he clashed with…
Precious metals surged on February 20, 2026, after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act and President Trump responded by announcing a 15% global import surcharge under a different legal authority. Silver posted a roughly 9% gain while gold rose, as investors reacted to the tariff ruling, the…
Nobel Prize-winning economist Joseph Stiglitz has warned that President Trump’s trade policies are turning the United States into a “scary place to invest,” increasing the risk of stagflation as GDP growth has already slowed. The warning comes ahead of a new 10% import surcharge scheduled to take effect on February 24, 2026, layering fresh costs…
The Supreme Court struck down President Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act, or IEEPA, and the ruling has set off a corporate scramble for refunds on billions of dollars in collected duties. For collectors of luxury Swiss watches and other high-end imports that carried steep tariff surcharges, the decision could…
Warren Buffett used his 2025 shareholder letter to make a striking claim: if roughly 800 of the largest U.S. corporations matched Berkshire Hathaway’s federal tax contributions, individual Americans would owe nothing to the IRS, and Social Security could be fully funded without raising personal rates. The assertion, delivered alongside Berkshire’s 2024 annual report, doubles as…
Heartland Coca-Cola Bottling Company has opened a massive new production campus in Olathe, Kansas, backed by more than $400 million in investment and built to run four high-speed production lines across 700,000 square feet. The facility, which sits on 150 acres, represents one of the largest single-site beverage manufacturing expansions in the Coca-Cola system in…
The U.S. economy is projected to add 5.2 million jobs between 2024 and 2034, and the gains are not spread evenly. Federal labor data published in January 2026 shows hiring concentrated in healthcare, clean energy, and cybersecurity, with several roles growing at two to four times the national average. For workers weighing a career shift…
Ohio Governor Mike DeWine has warned that a proposed constitutional amendment to eliminate property taxes statewide could lead to a dramatic increase in the state sales tax to cover the resulting revenue gap. The warning follows a formal step forward for the ballot initiative: Ohio Attorney General Dave Yost accepted the petition title and summary…