Money, Wealth & Power—A Daily Look at the Financial World
The Federal Reserve’s preferred inflation measure stayed hot in December 2025, with core prices rising at a 3.0% annual rate just as economic growth slowed to its weakest pace in over a year. The combination of stubborn price pressures and a sharp deceleration in GDP has effectively shut the door on near-term interest rate cuts,…
Bob Evans Restaurants, the family dining chain known for its farm-fresh breakfast platters and homestyle comfort food, has changed hands in a private equity deal that will shape the brand’s next chapter. According to a Golden Gate announcement, 4×4 Capital has acquired Bob Evans Restaurants, LLC, taking over from Golden Gate Capital, which had owned…
Avelo Airlines, the Houston-based budget carrier that launched with promises of low fares and underserved routes, says it is cutting roughly 29% of its flying as part of a sweeping network and fleet reduction tied to what the company calls a 2026 balance sheet transformation. The airline will pull out of several bases, shed aircraft,…
Uber plans to spend more than $100 million building fast-charging hubs dedicated to electric robotaxis in three major U.S. metro areas, a bet that reliable power infrastructure will determine which company wins the autonomous ride-hailing race. The investment targets the San Francisco Bay Area, Los Angeles, and Dallas, covering site development, construction, and equipment. The…
Salesforce cut fewer than 1,000 jobs in early February 2026, hitting teams across marketing, product management, data analytics, and its Agentforce AI unit, according to Business Insider. The cuts followed public comments from CEO Marc Benioff about AI-driven efficiency and came amid a C-suite consolidation disclosed in a federal proxy filing and the departure of…
BP disclosed a write-down of about $4 billion to $5 billion in post-tax impairments, largely tied to parts of its gas and low-carbon energy business, as the company plots a sharper shift back toward oil and gas investment. The impairments, paired with a suspended share buyback program and planned cuts to transition spending, signal that…
The Supreme Court struck down President Trump’s tariffs imposed under the International Emergency Economic Powers Act on February 20, 2026, ruling that the executive action exceeded presidential authority. Businesses and states that fought the duties through multiple courts are now demanding refunds, but shoppers hoping for lower prices at checkout are likely to be disappointed….
Costco shoppers hunting for laptops, noise-canceling headphones, or other high-ticket electronics are increasingly finding them hidden behind locked display cases or tethered with security tags, forcing staff-assisted retrieval that slows the warehouse club’s famously efficient shopping experience. The retailer frames these measures as a response to organized retail crime, but a closer look at the…
Deere & Company reported a sharp drop in quarterly profit but still sent Wall Street into a buying frenzy by raising its full-year earnings forecast, pushing shares to a new 52-week high. The agricultural and construction equipment maker posted first-quarter fiscal 2026 net income of $656 million, down from $869 million a year earlier, yet…
Millions of Blue Cross Blue Shield policyholders are set to receive payouts from a $2.67 billion settlement that resolves one of the largest antitrust cases in American healthcare history. The litigation, consolidated in federal court in Alabama, accused Blue Cross Blue Shield insurers of carving up geographic markets among themselves and suppressing competition, which plaintiffs…