The financial news that actually matters
Workers saving for retirement through a 401(k) plan can set aside $1,000 more per year starting in 2026, after the IRS raised the elective deferral limit to $24,500, up from $23,500 in 2025. For savers age 50 and older, the catch-up contribution allowance rises to $8,000, bringing their combined ceiling to $32,500. The increases, announced…
Federal prosecutors in Chicago have charged Paaris Kopsaftis with running a Ponzi scheme through his Illinois-based firm Blackwater Assets, Inc., allegedly swindling clients out of their money over a roughly five-year stretch. The indictment accuses Kopsaftis of collecting investor funds under the pretense they would be invested for clients’ benefit, then diverting portions to cover…
Vladimir Artamonov, a Harvard Business School graduate, faces federal charges of securities fraud, investment adviser fraud, and wire fraud for allegedly running a scheme that raised more than $4 million from his own classmates and fellow alumni between September 2021 and February 2024. Prosecutors say he pitched a strategy called Project Information Arbitrage, claiming he…
General Mills, the company behind Cheerios, Pillsbury, and dozens of other grocery staples, lowered its profit outlook after reporting fiscal 2026 third-quarter results for the period ended Feb. 22, 2026. The revision came as shoppers increasingly traded down to cheaper alternatives and relied more heavily on coupons, forcing the company to ramp up promotional spending….
American workers displaced by artificial intelligence now number 87,714 in 2026 alone, a total that has already surpassed the 54,836 AI-linked job cuts recorded across all of 2025. The acceleration is showing up not just in layoff tallies but in corporate filings, where companies are tying headcount reductions directly to AI-driven efficiency programs. For employees…
Saks Global exited Chapter 11 bankruptcy protection in roughly nine months, rebranding itself as Exemplar Luxury Group and placing three of America’s most recognized luxury retail names under a single corporate umbrella. The company now operates Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman with reduced debt, a feat that sets it apart from the…
Pennsylvanians who never filed a claim for lost money are now receiving checks in the mail, sent automatically by the state Treasury. Treasurer Stacy Garrity announced the first batch of 2026 Money Match checks, continuing a program that has already completed two earlier rounds since launching in early 2025. The effort covers single-owner unclaimed properties…
Conagra Brands, the packaged-food company behind Slim Jim, Duncan Hines, and Healthy Choice, reported a 1.9 percent drop in net sales for its fiscal third quarter ended February 22, 2026, while simultaneously flagging that future dividend payments are not guaranteed. The company narrowed its full-year adjusted earnings-per-share guidance to a range anchored at $1.70 on…
Married couples who are both past age 70½ can now exclude as much as $216,000 combined from taxable income by sending IRA money straight to qualifying charities, with each spouse eligible for a $108,000 annual cap. The per-person limit rose from $100,000 after Congress indexed it for inflation under Section 307 of the SECURE 2.0…
People who received automated calls from Molina Healthcare meant for someone else have until July 6 to file a claim worth between $319 and $638, with no receipts or documentation required. The settlement stems from a federal class-action lawsuit, Kruzel v. Molina Healthcare, Inc., et al., filed in the U.S. District Court for the District…