Money & Markets
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Trump Claims ‘Biggest Deal in History’: 65 Billion Barrels of Venezuelan Oil
Trump claims Washington now controls 65 billion barrels of Venezuelan oil — more than doubling US strategic reserves. The deal’s legal structure remains opaque; the operator’s identity undisclosed. No contract text published. Read more
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US Big Tech Now Worths More Than Europe’s Entire GDP
The Magnificent Seven now exceed the EU’s entire projected GDP by $855 billion. Nvidia alone out-values all FTSE MIB companies combined. The wage share of corporate value sits at a post-war low. Read more
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The Strongest El Niño in a Generation Is Rewriting the Global Economy
Record Pacific heat is squeezing the Panama Canal, burying a Chilean copper mine under snow, and sending anchor prices — and everything downstream — spiking. Read more
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Warsh Signals the Fed Is Not Done Fighting Inflation
JACKSON HOLE, Wyo. — Fed Chairman Kevin Warsh delivered his first keynote as chairman on Friday — and the subtext was as hawkish as the tone was measured. Warsh signaled the central bank “may not be done” fighting inflation with… Read more
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Warsh Signals the Fed Is Not Done with Inflation
In his first speech as Fed chair, Kevin Warsh delivered the most hawkish reading the market has seen and left September completely open. Read more
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Chevron and U.S. Oil Companies Near Multi-Billion Deal on Venezuelan Fields
U.S. executives are set to sign production agreements in Caracas next week, a major shift in Washington energy strategy. Read more