US Pay Inequality Improves, Wealth Gap Widens in Fed ReportThe Federal Reserve said income inequality fell over the last three years, but the change did little to narrow persistent wealth disparities.
Billionaires Might Win This Wealth-Tax Battle But Lose the WarFor months, the billionaires of Silicon Valley (and a few other gilded corners of California) have been scrambling to stop a statewide measure that would levy a one-time 5% wealth tax on their assets. Until now, they haven’t had much luck. But as ballots begin arriving in voters’ mailboxes this week, they arguably have some reason for optimism.
AI Powered Bull Market in S&P, Now It Needs More Building BlocksThe bull market in US stocks is showing few signs of stress as it approaches its fourth anniversary: Corporate profits are rock-solid, the S&P 500 Index is near a record and volatility appears subdued.
Big Tech Rally Extends Into Fourth Week as AI Bubble Fears FadeUS stocks ended the week inches away from record highs as investors brushed aside concerns around the artificial-intelligence spending spree and an energy crunch to prepare for the start of earnings season.
Kentucky Derby Owner’s Stock Soars as Billionaire Amasses StakeChurchill Downs Inc. is surging after billionaire Mike Repole said late Thursday that he had purchased one million shares of the horse racing and gaming company over the past four days.