The financial news that actually matters
Ross Gerber has a blunt prescription for Tesla’s governance headaches: if Elon Musk insists on running half a dozen companies at once, merge the biggest ones together and let shareholders ride the full portfolio. The CEO of Gerber Kawasaki Wealth and Investment Management, a Los Angeles-based firm that counts Tesla among its largest public holdings,…
Mark Cuban has spent the last three years waging a public campaign against what he calls a rigged drug pricing system. Through interviews, social media posts, and his own pharmacy company, the billionaire entrepreneur has hammered a consistent message: Americans pay far too much for generic medications, and the middlemen who control pricing profit from…
Every major military power on Earth spent more on defense in 2024. Every one except the largest. The United States, which still accounts for roughly 37% of all global military expenditure, saw its spending edge down 0.3% in real terms, to about $997 billion, even as the rest of the world pushed the combined total…
A diplomatic opening that energy traders had been quietly banking on collapsed in early May 2026 when Iran’s Foreign Ministry spokesman, Esmael Baqaei, told reporters in Islamabad that no meeting between Tehran and Washington is planned. Oil prices responded within hours. Brent crude futures settled near $63.90 a barrel, up roughly 0.5% on the session,…
If you have swiped a credit or debit card at Trader Joe’s in recent years, a receipt you barely glanced at could now be worth up to $102. The grocery chain has agreed to a $7.4 million class-action settlement after being accused of printing too many digits of customers’ card numbers on store receipts, a…
The United States Postal Service is running out of cash. That was the message a March 17, 2026, House Oversight Committee hearing conveyed when its notice described an agency “expected to run out of money in 12 months,” placing the projected insolvency point in early 2027. Postmaster General Louis Steiner prepared testimony for that hearing…
Carlos Mejia, a rideshare driver in Houston, told ABC13 this spring that he was spending $400 a month on gasoline before he started shopping for a used Chevrolet Bolt. “A used EV with a home charger cuts that to maybe $80,” he said. Mejia’s math is catching on. Americans purchased 12% more pre-owned electric vehicles…
Picture a 2022 SUV purchased at the height of the pandemic car-buying frenzy for $42,000. Three years and roughly $18,000 in payments later, the owner still owes $30,000 on a vehicle now worth about $24,000. That $6,000 gap is negative equity, and it is showing up at dealerships across the country this spring as pandemic-era…
For decades, retired teachers, firefighters, and other public employees watched their Social Security checks shrink because of two federal provisions that penalized workers who also earned government pensions. That changed when the Social Security Fairness Act became law in January 2025. But even as millions of retirees finally see bigger payments, a separate policy shift…
Michael Burry’s Scion Asset Management bought into Microsoft during the fourth quarter of 2025, a period when the software giant’s shares were nursing a double-digit decline from their summer highs. The new stake, which did not exist in Scion’s prior quarterly disclosure, surfaced in a 13F filing submitted to the SEC in February 2026, covering…