Money, Wealth & Power—A Daily Look at the Financial World
E. & J. Gallo Winery is shutting down a major Napa Valley production facility and cutting dozens of jobs across five California locations, a move that strips away positions tied to some of the state’s most recognized wine labels. The closure of the 70-acre Ranch Winery in St. Helena, which Gallo purchased in 2015, eliminates…
Marriott Bonvoy is introducing a “soft landing” policy for its elite status program, giving loyal members who fall short of annual qualification thresholds a gentler demotion path instead of a full status reset. The change, which takes effect for the 2026 status year, means travelers who miss their night-count targets will drop just one tier…
The Vanguard S&P 500 Value ETF, ticker VOOV, has been outpacing the broader S&P 500 this year as investors rotate into cheaper, dividend-paying stocks and away from the high-growth names that dominated recent rallies. The fund tracks the S&P 500 Value Index, a subset of the S&P 500 that filters for stocks with lower price-to-book…
Gold prices slid sharply this month, falling below $5,000 an ounce from late-January record highs, rattling traders who had grown accustomed to a relentless rally. Billionaire Thomas Kaplan, chairman of NovaGold Resources and one of the most vocal gold bulls in the investment world, is telling anyone who will listen that the pullback is a…
New federal data and central bank research show that the job market has cooled for recent U.S. college graduates, tightening the search for entry-level roles just as a new class leaves campus. The squeeze is especially severe for graduates in lower-paying majors, who are entering a weak hiring cycle with smaller financial cushions than peers…
Retirees across the United States lose thousands of dollars each year to preventable tax errors that compound over time, eroding savings that took decades to build. From mandatory withholding on botched rollovers to surprise Medicare premium surcharges triggered by a single year of elevated income, the federal tax code punishes missteps with penalties that hit…
Six states with some of the lowest price levels in the country can cut housing costs by nearly half compared to the national average, according to federal data released in late 2024. Mississippi, Arkansas, Oklahoma, West Virginia, Kentucky, and Alabama consistently rank at the bottom of the U.S. Bureau of Economic Analysis price index, meaning…
Treasury Secretary Scott Bessent has accused the Federal Reserve of running annual losses of more than $100 billion and of operating under a statutory framework that limits independent audits of key monetary policy decisions. The criticism surfaced in mid-2025 coverage and resurfaced in reporting on his Feb. 4, 2026, congressional testimony, as he clashed with…
As investors hit the halfway mark to retirement, typically in their 40s and 50s, the stakes rise sharply for every dollar put to work. Financial firms such as Check Rowe Price and Navy Federal Credit Union describe this period as a transition from pure growth to a balance between growth and protection, when portfolio choices…
Precious metals surged on February 20, 2026, after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act and President Trump responded by announcing a 15% global import surcharge under a different legal authority. Silver posted a roughly 9% gain while gold rose, as investors reacted to the tariff ruling, the…