Money, Wealth & Power—A Daily Look at the Financial World
Families spending $200 a week on groceries and household staples could redirect thousands of dollars a year simply by shifting five routine purchases to lower-cost retailers. With food prices still elevated across the country and the cost of basics like eggs, milk, and cleaning supplies eating into paychecks, the math behind store-switching has become hard…
General Motors is cutting thousands of electric vehicle jobs across its U.S. manufacturing operations, a decision that landed on workers at multiple plants effective January 5, 2026. The layoffs, spanning facilities in Michigan and Ohio and extending to joint-venture battery sites, stem from what GM describes as slower-than-expected EV adoption and shifting federal policy on…
The OECD and UNDP released a joint report this week arguing that accelerated climate action is not just an environmental necessity but the most cost-effective way to protect economic growth and reduce poverty worldwide. The report, timed ahead of the next round of Nationally Determined Contributions under the Paris Agreement, lands as separate research estimates…
For decades, a set of economic assumptions about self-correcting markets and rational actors shaped how Wall Street managed risk and how Washington regulated finance. Those assumptions, embedded in formal models used by the Federal Reserve, the SEC, and major investment banks, failed spectacularly during the 2008 financial crisis. The wreckage left behind a trail of…
The Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, but the justices stopped short of ordering the federal government to return the money it collected. That gap between ruling and remedy has set off a scramble among importers, lawmakers, and at least one Fortune 500 company to force billions of…
Shares of International Business Machines plunged 13% on Monday, February 23, 2026, after Anthropic announced that its artificial intelligence technology can modernize COBOL, the decades-old programming language that still powers much of the world’s banking and government infrastructure. The single-day loss was IBM’s steepest since 2000, rattling investors who had viewed the company’s legacy mainframe…
Apple has announced a special event for March 4 that breaks from its familiar product launch formula. Instead of a single keynote at Apple Park in Cupertino, the company is staging simultaneous press gatherings across three continents and, according to multiple reports, plans to roll out new products through a series of daily press releases…
Recent federal data shows that some retirement rules Americans grew up hearing about from their parents are now out of date. New trust fund projections from the Social Security Administration, higher contribution limits from the IRS, and updated poverty figures from the Census Bureau suggest that several assumptions that shaped retirement planning for decades no…
A growing number of mid-sized American cities are dangling financial incentives to lure new residents, and retirees stand to benefit the most. From direct cash payments to state-level tax advantages, these programs aim to reverse population decline while offering newcomers real savings on housing, taxes, and everyday costs. The catch: most of these perks come…
The U.S. Supreme Court on February 20, 2026, struck down President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose sweeping global tariffs, instantly throwing $133 billion in collected duties into legal limbo. Within days, the administration pivoted to an obscure Cold War‑era trade statute to reimpose levies, setting up a…