Treasury Secretary Scott Bessent on Monday suggested a review of the Federal Reserve that would go beyond the current controversy over building renovations and look at its overall function."What we need to do is examine the entire Federal Reserve institution and whether they have been successful," Bessent said during an...
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New York City braces for wealth flight with Mamdani’s political rise
Zohran Mamdani's primary win in New York City's mayoral race and proposal to raise taxes on millionaires have touched off fears of a new wave of wealth flight from the city. Yet so far, there is little evidence of a slowdown in high-end real estate or real wealth losses in...
International inbound travel to U.S. shows mixed recovery
A passenger passes a giant American flag as they make their way to and from their gates during the Memorial Day weekend getaway at John Wayne Airport Orange County in John Wayne Airport, Santa Ana, CA on Thursday, May 26, 2022. Allen J. Schaben | Los Angeles Times | Getty...
Pentagon to become largest shareholder in rare earth miner MP Materials; shares surge 50%
The Defense Department will become the largest shareholder in rare earth miner MP Materials after agreeing to buy $400 million of its preferred stock, the company said Thursday.MP Materials owns the only operational rare earth mine in the U.S. at Mountain Pass, California, about 60 miles outside Las Vegas. Proceeds...
Block shares soar 10% on entry into S&P 500
Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.Eva Marie Uzcategui | Bloomberg | Getty ImagesBlock shares jumped more than 10% in extended trading on Friday, as the fintech company gets set...