Paul Kiernan

The California governor opposes the proposed levy on ultrawealthy that goes before voters on Nov. 3.

California Gov. Gavin Newsom has long opposed a high-profile ballot measure that would tax billionaires' wealth. Now he is endorsing a different measure aimed at prohibiting wealth taxes.

A proposed billionaire tax had Mark Zuckerberg thinking about leaving California. Provisions around the 2-for-1 split of Meta Platforms' stock are designed to keep him in the state.

Meta’s CEO feared a proposed billionaire tax would force a major share sale, threatening his voting control

A proposed billionaire tax had Mark Zuckerberg thinking about leaving California. Provisions around the 2-for-1 split of Meta Platforms' stock are designed to keep him in the state—and help him pay a potential tax bill.

The ballot measure sparked party infighting and has many unions siding with the ultrarich, while voter polls remain close.

The idea seemed simple at first: a one-time tax on California's billionaires to counter looming cuts to Medicaid.

Federal Reserve Chairman Kevin Warsh opened his post-meeting press conference saying economic activity is expanding “at a strong pace” but inflation remains elevated. Fed officials voted 10-2 on Wednesday to hold the key interest rate steady at between 3.75% and 4%. Cleveland Fed President Beth Ham

Kevin Warsh acknowledged that inflation has made little progress toward the Federal Reserve’s 2% target since he assumed the helm of the central bank in May. But he said, “we’re working on it.” “Quashing inflation is not about some fixed individual date on a calendar, the same way it's not about so

Federal Reserve officials upgraded their assessment of the U.S. economy, saying in their post-meeting statement that economic activity is expanding at a “strong pace.” In previous statements, they had characterized growth as “solid.”