financeThursday, July 2, 2026
California's governor is taking aim at a tax strategy that lets the ultra-rich dodge capital gains. Meanwhile, Kroger is buying Giant Eagle, and the UK is tweaking its investment rules. Trump's crypto earnings are still a story, but not the lead today.
The biggest policy move of the day comes from California, where Newsom is going after a favorite tax dodge of the wealthy.
Newsom wants to kill 'buy, borrow, die', the strategy where the rich borrow against appreciated assets instead of selling, then pass them on with a stepped-up basis. It's a direct hit on a loophole that's been a cornerstone of wealth preservation for the ultra-wealthy.
Two notable stories: a grocery merger and a UK investment rule change that could shift where money flows.
Kroger is buying Giant Eagle for $1.65 billion, adding nearly 200 supermarkets in the Midwest and Mid-Atlantic. It's a regional consolidation play as Kroger keeps expanding beyond its core footprint.
Chancellor Reeves is reforming the Green Book to factor in broader economic and social impacts, not just cost-benefit ratios. The goal is to steer more investment to under-invested parts of the UK.
How Trump made over $1 billion last year in Crypto, overshadowing real estate | AP Newsapnews.com
Trump's annual financial disclosure shows more than $580M in crypto-related incomewww.cnbc.com
CNBC Daily Open: Chips are down, OpenAI's woos the White House, and Russia strikeswww.cnbc.com
Precio del dólar en Perú: revisa el tipo de cambio del jueves 2 de julioelcomercio.pe
Diesel sees biggest monthly fall in 26 years. What's happening to fuel prices?www.bbc.co.ukHuizenmarkt zal verder afkoelen verwachten experts, ook minder hypotheekaanvragen: één groep doet het juist wel goed op woningmarktwww.telegraaf.nl
This article discusses the cooling housing market, with experts predicting further slowdown and fewer mortgage applications. However, it notes that one specific group is still performing well in the housing market. The article also includes a separate, unrelated mention about new
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