Money, Wealth & Power—A Daily Look at the Financial World
U.S. stocks are losing altitude again as investors confront a painful combination of tech-sector weakness and fresh signs that the labor market is cooling. The latest slide has pulled the Nasdaq and S&P 500 off recent highs even as the Dow clings to gains, underscoring how uneven this market has become. I see a tug…
Several Democratic-led states are moving aggressively to raise taxes on their wealthiest residents, betting that high earners will stay put and that new revenue can help close yawning budget gaps and fund ambitious social programs. At the same time, one state that already pulled the trigger on a millionaire levy is reporting a multibillion-dollar windfall,…
Oracle is weighing one of the largest corporate downsizings in recent tech history, with analysts warning that up to 30,000 roles, nearly a fifth of its global staff, could be on the line as the company races to fund next generation AI infrastructure. The potential cuts would reshape a software giant that has spent decades…
Bitcoin’s latest sell-off has ripped through the crypto market, dragging the world’s largest digital asset to its weakest levels in more than a year and rattling traders who had grown used to relentless gains. The slide has collided with a pivotal moment for U.S. monetary policy, as President Donald Trump’s choice to lead the Federal…
Billionaire Republican donor Ken Griffin has moved from quiet ally to sharp critic, accusing President Donald Trump’s inner circle of treating public power as a vehicle for private gain. His charge of “self-enrichment” lands at a moment when Trump and his family are building a parallel universe of exclusive clubs and investment vehicles that blur…
Across the United States, February is opening with another wave of corporate job cuts that is hitting everyone from warehouse workers and delivery drivers to software engineers and journalists. After U.S. layoffs reached about 1.1 m positions in 2025, companies are moving into 2026 still focused on trimming costs, automating tasks, and resetting after the…
Bond traders are rushing to position for a sharper gap between short and long term interest rates as the prospect of a Kevin Warsh led Federal Reserve collides with a sudden jump in Treasury yields. A powerful move in longer dated debt, triggered by stronger manufacturing data and a leadership shakeup at the central bank,…
The operator behind one of North America’s best known outdoor clothing brands is preparing a sweeping restructuring that could erase its entire mall footprint. Nearly 180 stores are now in the crosshairs as the company’s retail arm moves toward bankruptcy protection and a potential shutdown of all brick and mortar locations in the United States…
Congress is moving to dramatically expand the firepower of the U.S. Export-Import Bank to align with President Donald Trump’s push for a massive strategic stockpile of critical minerals. Lawmakers are debating how far to go, with some proposals pointing to tens of billions of dollars in new authority rather than the $205 billion ceiling that…
The newly released Epstein files do more than illuminate one predator’s fortune. They expose how the financial system itself can be bent into a private playground for the ultra rich, where secrecy, offshore tricks and pliant institutions turn abuse into a profitable business model. The money trails now coming into view show how Jeffrey Epstein’s…