Money, Wealth & Power—A Daily Look at the Financial World
T G S Transportation Inc., a California-based carrier listed in federal records as operating 20 power units and employing 20 drivers, appears to have ceased operations and is reported as a Chapter 7 bankruptcy liquidation, joining a growing list of Golden State trucking firms under pressure amid a punishing freight-rate slump. The shutdown leaves drivers…
The Centers for Medicare and Medicaid Services has launched a series of regulatory actions targeting Medicare Advantage plans, using payment audits and tighter compliance rules to recover what federal investigators say are billions of dollars in improper payments. The effort centers on diagnoses that generate higher government reimbursements but lack evidence of actual patient treatment….
Los Angeles’s voter-approved transfer tax on high-value property sales, formally called the United to House L.A. Real Property Transfer Tax, has triggered steep declines in building permits, land transactions, and multifamily housing production across the city. A growing body of academic research from UCLA, UC Irvine, UC San Diego, and Harvard now links the levy…
Mukesh Ambani, chairman of Reliance Industries and India’s wealthiest individual, has laid out an aggressive plan to build AI infrastructure, robotics systems, and deep-tech products designed to compete directly with Silicon Valley heavyweights. At the company’s 48th annual general meeting, Ambani detailed a vision that puts Reliance on a collision course with Tesla’s humanoid robot…
Crypto.com has secured conditional approval from the Office of the Comptroller of the Currency to operate a national trust bank in the United States, a milestone that places the Singapore-headquartered exchange alongside a small but growing cohort of crypto firms winning federal banking charters. The entity, named Foris DAX National Trust Bank and headquartered in…
A large retirement account balance can create a false sense of security. Federal data on Social Security reductions, tax-forced withdrawals, and rising Medicare costs reveal that the size of a nest egg matters far less than the timing and strategy behind the exit. For anyone matching even one of the five warning signs below, stepping…
Shares of Europe’s biggest listed private-equity and private-credit firms fell sharply on Monday as investor anxiety over the quality of their underlying holdings intensified. EQT, Partners Group, CVC Capital Partners, and Intermediate Capital Group were at the center of the rout, extending a selloff that has wiped out weeks of gains and raised pointed questions…
San Diego County is preparing to auction 600-plus tax-defaulted properties in March 2026, with opening bids on many parcels listed below $100,000 on the county’s auction map. The sale is scheduled to run from March 13 through March 18, according to the county portal, and arrives as Southern California housing costs continue to strain household…
San Diego County transit riders could soon pay more per trip than commuters anywhere else in California if the Metropolitan Transit System (MTS) board moves forward with a proposed fare ordinance update. The potential increase, rooted in historical fare governance records maintained by the state, would push flat-rate bus and trolley fares above even the…
Social Security’s financial outlook worsened again this week when the program’s Board of Trustees projected the combined Old-Age and Survivors Insurance and Disability Insurance trust funds will be depleted by 2035, one year earlier than the prior forecast. At the same time, a reinstated policy now allows the agency to withhold up to 50 percent…