Money, Wealth & Power—A Daily Look at the Financial World
Meta is cutting deep into its metaverse ambitions, eliminating 331 Reality Labs roles in Washington in a move that hits the Seattle tech corridor at a vulnerable moment. The job losses are part of a broader restructuring of the company’s virtual and augmented reality business, which has already shed roughly a tenth of its global…
President Trump’s return to the Oval Office has coincided with a sharp acceleration in federal borrowing, with a fiscal watchdog estimating that the national debt jumped by roughly $2.25 trillion in his first year back in power. That surge, layered on top of earlier policy choices like his signature tax law, is reshaping the long…
Billionaire hedge fund managers are quietly rotating out of one of Wall Street’s most beloved growth stories and into a niche BlackRock vehicle tied to Bitcoin. The shift pits the steady, cash‑gushing power of Amazon against a speculative bet that a single exchange‑traded fund could ultimately climb as much as 13,500%, according to some of…
The latest Wall Street rout has fused geopolitics and markets in a way that is hard to ignore. The Dow has slumped more than 850 points while the dollar has weakened, as investors try to price the fallout from President Trump’s escalating Greenland tariff threats and a deepening rift with Europe over trade. What began…
Federal prosecutors say a small group inside President Donald Trump’s tech-focused DOGE initiative crossed a bright red line: tapping into the Social Security Administration’s most sensitive systems and quietly moving data to an outside server. The Department of Justice now alleges that DOGE staffers working inside the agency tried to create a live replica of…
Across the United States, drivers pulling up to the green pump are finding that diesel often costs more than regular gasoline, even in regions with the highest gas prices. On the other side of the Atlantic, many European motorists still pay less for diesel than for petrol, despite their reputation for steep fuel taxes. The…
President Donald Trump’s latest tariff threats have turned a long‑running dispute over Greenland into a direct shock for European markets, hitting everything from car stocks to corporate borrowing costs. Investors are suddenly having to reprice the risk that a political standoff could morph into a full‑blown trade war between the United States and key European…
Asia-Pacific equities started the week on the back foot as traders tried to price a rare mix of geopolitical brinkmanship and slowing economic momentum. Benchmarks across Asia and the Pacific slipped while investors weighed escalating tensions around Greenland and braced for a fresh batch of China data that could confirm a loss of speed in…
Markets have spent the start of 2026 fixated on a single number that now acts as a kind of speed limit for the expansion. If the Federal Reserve’s preferred inflation gauge, the personal consumption expenditures index, loses momentum in the wrong way, the chain reaction through earnings, valuations and sentiment could be the most destabilizing…
Half of veterans are walking away from their first civilian jobs within a year, even as their spouses face some of the highest unemployment and underemployment rates in the country. At the same time, one major financial institution is promising a $500 million push to stabilize military family finances and keep talent in the workforce….