Money, Wealth & Power—A Daily Look at the Financial World
For decades, Wall Street and Big Law have quietly minted money by selling access to structured financial and legal information. Now a new generation of artificial intelligence is threatening to erode that advantage by learning directly from the raw text, filings, and contracts those firms once controlled. The same data that powered premium terminals and…
Google cofounder Sergey Brin has been linked to a $42 million mansion on the Nevada side of Lake Tahoe, a purchase that lands just outside the reach of California’s proposed “billionaire tax” on extreme wealth. The timing of that deal, alongside other moves by Brin and fellow Google cofounder Larry Page, has turned a luxury…
Ford’s latest sales mix shows just how stubborn American car buyers can be. In January, the company sold more than twice as many gasoline Mustangs as it did all of its electric vehicles combined, underscoring how far traditional performance coupes still outrun battery-powered models in the showroom. The result lands at a moment when the…
Treasury Secretary Scott Bessent is trying to rewrite how Washington thinks about paying for the federal government, shifting the focus from taxes and borrowing toward asset-building and market gains. His signature “Trump Accounts” proposal, paired with a broader 3-3-3 economic strategy and a push to treat strategic resources and even digital assets as national wealth,…
The most eye catching number in the AI boom, Nvidia’s reported $100 billion pact to bankroll OpenAI’s next generation data centers, has quietly been walked back. What sounded like a once in a generation mega deal has now been recast by Nvidia’s leadership as a non binding idea rather than a firm obligation, raising fresh…
Ford is weighing a radical fix for its struggling European electric vehicle business: letting a Chinese rival build cars inside one of its own factories to blunt the impact of punishing trade barriers. The talks with Zhejiang Geely Holding Group Co would turn an underused Ford plant into a production hub for Chinese-branded EVs, effectively…
President Donald Trump has spent the past year trying to turn the federal research budget into a political battlefield, targeting everything from basic biomedical science to climate and technology programs. Instead of capitulating, judges and lawmakers have drawn unusually bright lines, signaling that science funding is not as easy to weaponize as the White House…
Bitcoin’s latest slide has revived one of the market’s most unsettling voices. Michael Burry, the American hedge fund manager made famous by “The Big Short,” is warning that the current downturn could unleash what he calls “sickening scenarios” across crypto and even traditional safe havens like gold and silver. His argument is not just that…
President Donald Trump came back into office promising that this time he would not just slow coal’s decline but reverse it, using federal power to keep aging plants running and mines open. Instead, his rescue plan is colliding with a new source of resistance: coal executives and utility allies who say Washington is forcing them…
One of the country’s most recognizable deep-dish names is quietly shrinking, leaving regulars to discover locked doors and dark dining rooms where family dinners used to be. An 83-year-old pizza chain that helped popularize Chicago-style pies is now closing restaurants with little public warning, a jarring turn for a brand that once defined comfort food…