Finance
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A secretive tycoon known as the ‘French Murdoch’ holds the key to Bill Ackman’s $64 billion bid for Universal Music Group
Activist investor Bill Ackman has his sights set on Universal Music Group, and he’s launched a complex $64 billion proposal for the label behind Bad Bunny, Taylor Swift, Paul McCartney and a long list of other superstars. To get his hands on the prize though, Ackman will first have to contend with another big personality:
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Americans have never been this gloomy about the economy. Wall Street has never cashed in harder
The same week Americans recorded a 74-year low in economic pessimism, Wall Street’s biggest banks closed their most lucrative trading quarter since at least 2014. The S&P 500 punched through 7,000 to a fresh all-time high. Goldman Sachs posted its second-highest quarterly revenue on record. Morgan Stanley’s equities desk set a record of its own.
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Reed Hastings’ exit from $455 billion Netflix ‘had nothing to do with’ the failed Warner Bros. deal, says Ted Sarandos
The next episode for Netflix? The start of a post-Reed Hastings era. The 65-year-old co-founder and former CEO of the world’s largest streaming service announced on Thursday that he won’t stand for reelection to the board at the company’s annual shareholder meeting in June, ending a 29-year run at the company he created in 1997.
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Meet Joe McCann: the high-flying crypto trader held in Tanzania after sudden death of his influencer fiancée Ashly Robinson
Joe McCann got into crypto trading and, within two years, he seemed to have it made. McCann’s fund Asymmetric raised money in 2022 from the likes of Marc Andreessen and Circle and, during the crypto boom period that marked Donald Trump’s return to the White House, the fund nearly doubled in value. But then things
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Gen Z is carving a different path in the housing market by going it alone
The common milestones of the American dream once came in rapid succession. Couples would get married, buy a home, and have kids. But low inventory, skyrocketing mortgage rates, and stagnating wage growth have scrambled those milestones for some. The National Association of Realtors’ (NAR) 2026 Home Buyers and Sellers Generational Trends Report, a survey of
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NYC Mayor Zohran Mamdani points at Ken Griffin’s $238 million penthouse on Tax Day: ‘Today we’re taxing the rich’
New York City Mayor Zohran Mamdani marked Tax Day by making good on one of his most prominent campaign promises, and he did it while outside hedge fund billionaire Ken Griffin’s front door. In a video posted on Tuesday by the NYC Mayor’s Office, Mamdani announced the city’s first-ever pied-à-terre tax: an annual fee on
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A world going broke: IMF says America’s $39 trillion national debt is actually a global problem—and AI may be the only rescue
America’s $39 trillion national debt has become a familiar political football—batted around in budget negotiations, invoked at congressional hearings, and largely ignored between elections. But what the International Monetary Fund laid out Wednesday is something more unsettling: The U.S. isn’t an outlier. It’s just the most visible symptom of a global disease. At the spring
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The housing crisis has become HR’s problem. Helping workers buy homes near the office is employers’ newest RTO play
In January, a White House official floated a plan to let Americans tap into their 401(k)s for housing-related expenses, such as a down payment. It never materialized. Nevertheless, the plan highlighted an anxiety that weighs heavy on workers’ minds today. Even as they put away savings for retirement, they may struggle to purchase a home.
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Trump’s war in the Middle East may end up a global boon for renewables, as think tank calls return-to-coal narrative ‘meaningless’
The global energy shock stemming from the conflict in the Middle East is rewriting the ways governments think about their power needs. Big Oil has predictably emerged as an early winner, benefiting from soaring oil and gas prices, but the long-term upshot could be faster dispersal of an altogether different energy source. Despite negotiation attempts
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New York governor’s take on a millionaires tax: fancy pied-à-terre second apartments worth over $5 million
For months, New York Gov. Kathy Hochul has resisted calls to increase taxes on the wealthy, beating back progressives who have hounded her from Manhattan to Puerto Rico bellowing chants of “tax the rich.” Now she is pitching a compromise. The moderate Democrat says she will push to create a new tax on multimillion-dollar second