Money, Wealth & Power—A Daily Look at the Financial World
J.P. Morgan has adjusted its silver price target for 2026, citing growing policy uncertainty around the metal’s newly elevated status as a critical mineral in the United States. The reset comes after the White House moved to address supply-chain vulnerabilities tied to processed critical minerals, and as federal agencies continue to track silver production and…
Elon Musk is seeking up to $134 billion in damages from OpenAI and Microsoft in a federal lawsuit that has now cleared a key procedural hurdle, with a U.S. judge ruling that the case can proceed to a jury trial. The dispute, rooted in OpenAI’s shift from a nonprofit to a for-profit structure, represents one…
Steven Spielberg is among a growing number of California billionaires reportedly weighing a departure from the state ahead of a proposed one-time 5% wealth tax that would apply to anyone with assets exceeding $1 billion as of January 1, 2026. The ballot initiative, which cleared for signature gathering late last year, has triggered what observers…
Home Depot is raising the bar for manager bonuses, cutting both the likelihood and size of payouts at a time when sluggish home sales and cautious consumers are already weighing on the retailer. The company lifted the minimum sales-performance threshold required for bonus eligibility to 95% of target, up from 90%, and slashed the payout…
The Supreme Court ruled 6-3 on February 20, 2026, in Learning Resources, Inc. v. Trump (docket 24-1287) that President Donald Trump exceeded his authority by using the International Emergency Economic Powers Act to impose sweeping tariffs on imports from China, Canada, Mexico, and other countries. Chief Justice Roberts wrote the majority opinion, holding that the…
Nvidia and OpenAI have scrapped their ambitious $100 billion multi-year partnership and replaced it with a far simpler arrangement: a roughly $30 billion equity investment from the chipmaker into OpenAI’s next funding round. The dramatic restructuring, first reported by the Financial Times, signals that even the two most powerful companies in artificial intelligence are recalibrating…
Elon Musk has scrapped traditional resumes and cover letters for engineers applying to work on Tesla’s next-generation AI chip, replacing them with a single demand: three bullet points describing the hardest technical problems a candidate has ever solved. The directive, aimed at staffing the Dojo3 supercomputer project, reflects Musk’s growing impatience with conventional hiring filters…
Tesla is pushing toward a sub-$30,000 price point for its Cybercab robotaxi, with CEO Elon Musk targeting production as early as 2026. But the company’s aggressive timeline runs headlong into a regulatory reality that has yet to catch up: Tesla still lacks the permits needed to operate an autonomous passenger service in California, and its…
New York City Mayor Zohran Mamdani has framed his $127 billion preliminary budget for Fiscal Year 2027 as a direct challenge to Governor Kathy Hochul: either Albany approves new taxes on millionaires and profitable corporations, or city homeowners face a property tax increase of nearly 10%. That binary choice, laid out in the budget released…
The U.S. Supreme Court ruled on February 20, 2026, that President Donald Trump lacked the authority to impose tariffs under the International Emergency Economic Powers Act, a decision that could save the lowest-income American households roughly $900 each in higher prices. But the promise of relief is colliding with a bitter reality. the Trump administration…