Money, Wealth & Power—A Daily Look at the Financial World
Congress has effectively nullified President Donald Trump’s attempt to gut the nation’s civil space program, approving a bipartisan spending package that keeps NASA’s budget largely intact and protects its core science portfolio. Instead of the sweeping reductions the White House requested, lawmakers delivered a modest trim that still signals long term support for exploration, climate…
President Donald Trump is preparing to halt federal payments to jurisdictions with sanctuary policies starting February 1, a sweeping move his allies frame as a crackdown on crime and misuse of public money. The plan would target cities and states that limit cooperation with federal immigration authorities, potentially touching everything from housing grants to transportation…
Protests that began after a federal immigration officer shot a man in Minneapolis have escalated into a national test of presidential power, as President Donald Trump threatens to invoke the Insurrection Act to send active-duty troops into Minnesota. The confrontation is no longer only about a deadly encounter on an icy city street, but about…
The fight over President Donald Trump’s tariffs has moved from cargo terminals to the marble steps of the Supreme Court, and the stakes for the freight economy could hardly be higher. A pending ruling on whether those tariffs were lawfully imposed now threatens to reorder who pays for global shipping, who gets money back, and…
President Donald Trump is presenting Iran’s protest crackdown as a crisis that has suddenly eased, claiming Tehran has halted executions and stopped killing demonstrators just as Washington steps back from immediate military action. His assurances arrive while activists describe a death toll in the thousands and Iran remains largely cut off from the outside world,…
The United States is waiting on a single court decision that could either cement President Donald Trump’s tariff strategy or trigger a sprawling fight over who gets billions of dollars back. As the justices hold off, companies, markets and the White House are all trying to game out whether the delay points to a political…
Amazon is quietly testing how much pain its suppliers will tolerate just as the Supreme Court prepares to rule on the legality of President Donald Trump’s sweeping global tariffs. The company is demanding fresh price cuts from brands and manufacturers, even though the trade duties that helped justify earlier increases could soon be rolled back….
The Pentagon is making an unusually direct bet on the future of U.S. missile power, committing $1 billion to the rocket motor arm of L3Harris in a move that blends industrial policy with hard-edged defense planning. Instead of relying solely on contracts, the government is taking an equity stake in a new Missile Solutions business…
Senator Elizabeth Warren is turning a procedural breach into a broader indictment of President Donald Trump’s stewardship of the economy, arguing that his early disclosure of confidential jobs data is part of a pattern of disregard for rules meant to protect ordinary investors. In a series of public remarks, she has framed the leak as…
The Pentagon’s scramble to expand weapons production is converging with a broader bet on commercial tech, and few relationships illustrate that shift more vividly than the one between Defense Secretary Pete Hegseth and Elon Musk. Rather than a single dramatic summit, their interaction is unfolding through factory tours, cost-cutting task forces and AI experiments that…