Finance
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Meta just bumped its 2026 capex forecast up to as much as $145 billion for the AI boom—and investors flinched
Meta Platforms is splashing some serious cash on AI infrastructure, and investors have flinched. The company reported first quarter 2026 earnings results on Wednesday and raised its full-year 2026 capital expenditure guidance to $125 billion to $145 billion, up from a previous range of $115 billion to $135 billion. Meta told investors the boost was…
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Exclusive: America’s largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
For more than 50 years, OneUnited Bank has operated on the belief that financial empowerment in Black communities requires more than products and services—it requires confronting the systems that keep wealth out of reach. Now, the nation’s largest Black-owned bank is extending that mission into addressing how to close the racial wealth gap. On May…
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The national debt fix would cost $827 billion—roughly what America spends on its entire military, economists warn
The U.S. would need to cut spending or raise taxes by $827 billion, roughly what it spends on defense, just to keep the national debt burden from doubling by 2054, according to a new report. A report published Wednesday from think tank Cato Institute finds that to maintain the 98% debt-to-GDP ratio figure that the…
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Hilton’s CEO says the economy is actually C-shaped to the benefit of the middle class. Most of his competitors disagree
A cursory glance at today’s travel landscape can be a blinding look at the world of high-end indulgence. From airlines cutting economy seats to the sudden disappearance of affordable hotel rooms, the hospitality and travel sectors are pivoting to treat the high-spending consumer as the only guest who matters. The sector has been a prominent…
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Trump spent nearly $2 billion of taxpayer money to undo wind projects already underway. Dems demand answers
The Trump administration is spending nearly $2 billion to get energy companies to walk away from U.S. offshore wind projects. Democrats in Congress are investigating. The Republican administration adopted this strategy after federal courts thwarted President Donald Trump’s efforts to stop offshore wind development through executive action. Three agreements have been announced. U.S. Reps. Jared…
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‘They left me no choice’: Powell isn’t going anywhere—blocking Trump from another Fed appointee
Federal Reserve Chair Jerome Powell announced Wednesday he will remain on the Fed’s Board of Governors after his term as chair ends May 15, citing what he called “unprecedented” legal attacks on the central bank’s independence by the Trump administration. “My concern is really about the series of legal attacks which threaten our ability to…
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Meta quietly rolls out stablecoin payments four years after demise of controversial Libra project
Meta has reentered the stablecoin market. Four years after pulling the plug on an earlier attempt, the tech giant has quietly rolled out the digital currency payouts for select creators in Colombia and the Philippines, according to an update to the tech giant’s website. The payouts are available on the Solana and Polygon blockchain networks…
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Jerome Powell defies Trump one last time, holding rates steady: ‘The facts have moved decisively in the hawkish direction,’ top economist says
The Federal Reserve held interest rates steady on Wednesday in what is very likely Jerome Powell’s final policy decision as chair, leaving the federal funds rate in the range of 3.5% to 3.75% for a third meeting in a row and defying President Trump’s persistent demands to sharply lower rates. But beneath the headline decision,…
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FedEx and UPS are pledging to give their tariff refunds back to consumers, and the sum will likely top $5 billion
The day after the Supreme Court’s decision striking down President Donald Trump’s tariffs under the International Emergency Economic Powers Act (IEEPA), Commerce Secretary Scott Bessent offered bleak odds of consumers receiving refunds for the $166 billion in tariff revenue collected: “I got a feeling the American people won’t see it.” But after the U.S. Customs…
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Robinhood CEO says a ‘tokenization supercycle’ is underway
Crypto prices remain mired in a prolonged slump, but Robinhood CEO Vlad Tenev says the company remains bullish on the broader sector. During a first quarter earnings call on Tuesday, Tenev said he wants to get away from a strategy based around the price of Bitcoin, and focus instead on the finance industry’s rapid adoption…