Money, Wealth & Power—A Daily Look at the Financial World
Gemini is pulling back from its global ambitions, cutting a quarter of its staff and shutting exchange operations across Europe and Australia as the Winklevoss twins pivot toward a leaner, U.S.-centric strategy. The move marks one of the clearest signs yet that a platform once pitched as a regulated, mainstream gateway to digital assets is…
Software investors have been hit by a kind of whiplash that even seasoned tech traders are calling historic. After years of paying up for predictable subscription revenue, the sector has dropped roughly 30% in a matter of months as artificial intelligence suddenly looks less like a tailwind and more like an existential threat. Under the…
Expedia is cutting 100 jobs at its Austin offices, a fresh blow to a city that has leaned heavily on tech and corporate campuses for high-paying work. The reductions, which hit a prominent travel player’s corporate hub near The Domain, land on top of earlier rounds of restructuring and underscore how unforgiving the current tech…
Elon Musk is turning the war for AI talent into a direct raid on Wall Street and the crypto trading floor, dangling cash, equity and even cars to pull specialists into his orbit. His xAI venture is not just hiring engineers, it is recruiting investment bankers and digital asset pros to literally teach its models…
President Donald Trump has never been shy about big numbers, but his boast that his trade and industrial policies have secured at least 18 trillion dollars in foreign investment commitments pushed even sympathetic economists to the breaking point. The figure is so out of scale with the real global economy that one prominent analyst has…
The headline numbers on the U.S. economy look enviable: growth is steady, inflation has cooled from its peak, and unemployment remains historically low. Yet workers are being greeted almost daily with news of staff cuts at big-name employers, from delivery giants to tech platforms. The disconnect between a solid macro picture and a wave of…
Volvo’s worst trading day on record has turned a simmering tariff dispute into a full-blown corporate crisis. The Swedish carmaker’s stock collapsed by roughly a quarter after fresh U.S. import duties and a sharp profit slump exposed how vulnerable its American business has become. The selloff wiped out billions in market value in a single…
California is moving to shift the financial burden of climate disasters from homeowners and taxpayers to the fossil fuel giants that helped drive the crisis. A new proposal at the Capitol would open the door to sweeping lawsuits, letting the state recover billions in wildfire, flood, and storm costs from the oil and gas industry….
Across offices, warehouses, and Zoom calls, younger workers are discovering that landing a job is only half the battle. Millennials and Gen Z are being dismissed faster and more frequently than older colleagues, often within months of starting. The pattern is not just about individual performance, it reflects a collision between fragile labor markets, shifting…
The US dollar has dropped about 10% over the past year, a slide that has delighted President Donald Trump and unsettled many investors and consumers. A weaker currency can look like a quick way to boost exports and stock prices, but for households it quietly reshapes everything from grocery bills to retirement plans. I want…