The financial news that actually matters
Amazon has eliminated roughly 16,000 corporate positions so far this year across two rounds of cuts, according to the Associated Press, which attributed the figure to a blog post by Beth Galetti, the company’s senior vice president of people experience and technology. The reductions follow an October 2025 announcement that about 14,000 corporate roles would…
Consumers who lost money to scams on Zelle, the popular instant-payment network, became the center of a federal enforcement fight after the Consumer Financial Protection Bureau filed suit against the platform’s operator and three of the nation’s largest banks. The CFPB named Early Warning Services, LLC, the company behind Zelle, alongside Bank of America, JPMorgan…
Roughly 150 million individual tax returns will land at the IRS for the 2026 filing season, and the vast majority of those filers will skip Schedule A entirely. The agency confirmed that the standard deduction for married couples filing jointly will rise to $32,200 for tax year 2026, up from $31,500 in 2025. Single filers…
Lower-income American households are burning through their remaining savings buffers at a pace that Goldman Sachs analysts say will drag real consumer spending growth down to 1.3 percent, well below the trajectory federal forecasters have projected. That figure, if it holds, would represent a sharp deceleration from the post-pandemic spending surge and put direct pressure…
An Alabama retiree watched his life savings vanish after a person he trusted online steered him into cryptocurrency deposits on unfamiliar platforms. Federal agents later seized $222,000 connected to the scheme, but the retiree’s path to recovering those funds remains uncertain. The case fits a pattern that federal agencies have tracked with growing alarm: romance…
Depositors at FDIC-insured banks hold protection up to $250,000 for each ownership category they maintain, a rule that determines how much money the federal government will return if a bank fails. That cap applies per depositor and per bank, meaning a married couple with a joint account and separate individual accounts at the same institution…
Millions of American households earning less than $30,000 a year are running out of room in their budgets, and the discount retailer that depends on them most is feeling the squeeze. Dollar General has described its core shoppers as “very stretched,” a characterization that aligns with federal data showing persistent price increases on groceries and…
Eddie Bauer LLC, the 104-year-old outdoor retailer, filed for voluntary Chapter 11 bankruptcy protection in the District of New Jersey on Saturday, setting the stage for a court-supervised sale of the business. All 175 of the company’s U.S. and Canadian stores face permanent closure if no buyer emerges during the process. The filing came with…
The Securities and Exchange Commission has charged Texas resident Nathan Fuller with running a crypto fraud scheme that collected approximately $12.3 million from about 150 investors. Fuller allegedly pitched proprietary AI-powered trading bots capable of high-frequency crypto arbitrage, a claim the SEC says was fabricated. The alleged conduct stretched from at least October 2022 through…
Homebuyers shopping for a 30-year fixed mortgage now face an average rate of 6.55 percent, a level that adds hundreds of dollars to monthly payments compared with early 2025 and arrives just as futures traders have shifted their bets toward a Federal Reserve rate increase rather than a cut. The move puts borrowers and the…