Money, Wealth & Power—A Daily Look at the Financial World
Tesla has finally hit a wall that critics long predicted, logging its first annual revenue decline just as Elon Musk moves to scrap the company’s most recognizable luxury electric vehicles. Revenue slipped even as Musk doubled down on a risky bet that the future of the business lies not in cars but in humanoid robots…
New York City’s new mayor, Zohran Mamdani, is opening his term with a blunt message to the richest residents and corporations: the city’s $12 billion budget hole will be filled from the top. He is demanding higher taxes on wealthy New Yorkers and large firms to stabilize services and undo what he brands as a…
Amazon is cutting 16,000 corporate roles in its largest single wave of layoffs, a move that collides awkwardly with soaring profits and a still‑dominant position in global e‑commerce. The decision signals a deeper reset of how the company wants to operate, from its pandemic hiring binge to its next phase of artificial intelligence investment. Rather…
For years, Publix Super Market has been shorthand for grocery loyalty in Florida and across the Southeast, a regional chain that routinely topped national satisfaction lists. That streak has now been broken. A new wave of consumer data shows Publix knocked off its perch as America’s favorite grocer, with a different regional powerhouse and a…
United Parcel Service is shrinking one of the most recognizable relationships in modern commerce, and investors are finally treating it as a sign of discipline rather than distress. By deliberately cutting back on low-margin Amazon packages, the shipper is signaling that profitability, not sheer volume, will define its next chapter. The move marks a sharp…
President Donald Trump’s escalating tariffs were billed as a way to claw back leverage for the United States, but the immediate winners look increasingly like its biggest rivals and frenemies. As Washington leans into protectionism, partners unnerved by sudden duties and threats are racing to lock in new access to Asian markets instead. In practice,…
Corporate layoff plans that once surfaced only in recessions are now being baked into normal budgeting. A growing body of employer surveys shows that 60% of American companies expect to cut staff in 2026, a striking signal that management teams are bracing for a rougher economy even as the job market still looks solid on…
Warren Buffett has spent decades warning that America’s rising red ink is a political problem long before it is a mathematical one. His now famous claim that he could wipe out the U.S. deficit in five minutes is not a magic accounting trick, but a blunt attempt to change the incentives that drive Congress. At…
Gold’s latest surge is not just another commodity story, it is a blunt verdict on the way governments and central banks are managing the global economy. Prices have jumped alongside mounting anxiety about debt, inflation and political risk, turning a traditionally sleepy asset into a front‑page barometer of fear. When Terry Savage calls attention to…
Cuba is hurtling into a fuel emergency just as President Donald Trump openly predicts that the island’s communist government is nearing collapse. With its subsidized Venezuelan crude cut off and new pressure on alternative suppliers, Havana is confronting a shortfall that officials say could leave the country without oil within weeks. Trump, fresh from military…