Finance
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Fed whisperer splits on Powell: A+ as steward, but ‘I don’t think you could give him high marks on the economy’
After 30 minutes of fielding questions, Jerome Powell put his glasses in his suit pocket, told reporters “I won’t see you next time,” and walked out of his 66th and final press conference as Federal Reserve chair on Wednesday. He didn’t linger for the journalists’ tepid applause. Many of those journalists in the room will
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San Diego Padres to sell team to investor group led by Kwanza Jones and José E. Feliciano, who will become the second Latino owner in baseball
The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano. The family of late owner Peter Seidler formally announced the deal Saturday. The sale must still be approved by Major League Baseball. The deal with private equity billionaire Feliciano
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Iran juggles oil cuts and storage strain to resist U.S. blockade
As the US naval blockade in the Strait of Hormuz tightens around Iran’s oil trade, exports have plunged in recent weeks and storage is rapidly filling. Already, the country has begun curbing production, according to a senior Iranian official. But there’s a crucial caveat Washington may be underestimating: Tehran has decades of experience preparing for
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Warren Buffett says markets are like a church with a casino attached, but ‘we’ve never had people in a more gambling mood than now’
Investing legend Warren Buffett bemoaned the gambling culture that has taken over financial markets while continuing to preach his brand of patience. In an interview with CNBC on Saturday as Berkshire Hathaway held its annual shareholders meeting, he noted that of the 60 years he’s been in business, only five of them were “really juicy”
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Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook
U.S. debt is expected to continue soaring in the coming decades not because of excesses committed by future lawmakers, although that’s certainly possible, but because interest payments on past borrowing will increasingly dominate spending. Americans got a reminder of that outlook as the U.S. crossed a grim fiscal threshold this week, when first-quarter data confirmed
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Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
What happens when a generation is raised on economic promises that never materialize? Gen Z may want to ask their older siblings, the millennials, how that turned out, as the Great Recession of 2008—and the ensuing “jobless recovery”—left millions of altered lives, if not dashed dreams, in its wake. But as the oldest Gen Zers
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Berkshire’s cash pile hits $397.4 billion as profit more than doubles, but annual meeting attendance falls sharply without Warren Buffett as CEO
The folksy wisdom and jokes that were a staple of the Berkshire Hathaway annual meeting for decades when Warren Buffett was leading the show will be missing Saturday, but shareholders still started lining up at midnight outside a Nebraska arena to listen to new CEO Greg Abel. Attendance is down significantly this year with the
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One economist’s ‘radical idea’ to solve the biggest energy crisis in history: a reverse OPEC
The world is facing the largest energy crisis in modern history—and the U.S. may be the country with the most power to do something about it. Oil exports are projected to slow by 1.5 million barrels per day in the second quarter of 2026, leaving Pakistan, Indonesia, and the Philippines within days of running out
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EBay soars on report that GameStop is preparing a takeover bid
EBay Inc. jumped more than 13% in after-hours trading on Friday after the Wall Street Journal reported that video-game retailer GameStop Corp. is preparing a bid for the company. GameStop, led by e-commerce entrepreneur Ryan Cohen, has been building a position in the online auctioneer and plans to make an offer for the business this
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Exxon Mobil CEO sees ‘more to come’ on price spikes from Iran war as Exxon, Chevron beat on earnings despite plunging profits
Exxon Mobil CEO Darren Woods predicted that crude oil and fuel prices will continue to surge higher in the weeks ahead if the Strait of Hormuz remains blockaded. Both Exxon and Chevron are projecting big profit gains in the ongoing second quarter because of higher prices, even with some of their Middle Eastern operations remaining