The financial news that actually matters
Walmart plans to pass along tariff refunds as lower prices for shoppers, a move that follows the retailer’s own price increases after tariffs took effect in 2025. The pledge comes after the Supreme Court struck down the use of the International Emergency Economic Powers Act for tariffs on February 20, 2026, a ruling that opened…
Herbert Leon Kimble, a fugitive named on the FBI’s Most Wanted Fraudsters list, was taken into custody in Pasig City, Philippines, after fleeing a federal indictment tied to a previously charged $1.2 billion telemedicine fraud scheme. His capture came during the same week that the Justice Department announced a sweeping national health care fraud enforcement…
The Securities and Exchange Commission filed charges against seven entities for allegedly running fake crypto trading platforms and AI-themed investment clubs that defrauded retail investors of roughly $14 million. The defendants, which include Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., Cirkor Inc., AI Wealth Inc., Lane Wealth Inc., AI Investment Education Foundation Ltd., and…
American car buyers face a punishing sticker price. The average transaction price for a new vehicle sits near $49,000, hovering close to its all-time peak. That figure has climbed sharply since 2020, driven by pandemic-era supply shortages, a shift toward larger trucks and SUVs, and persistent cost pressures across the auto supply chain. For households…
Homeowners across the United States, and especially in Florida, are facing growing pressure as foreclosure filings climbed for an eighth consecutive month in April 2026. ATTOM’s April 2026 U.S. Foreclosure Market Report confirmed the streak, describing the trend as a “gradual annual climb” that has persisted since last fall. The sustained rise raises pointed questions…
Oracle shed roughly 21,000 full-time positions over the twelve months ending May 31, 2026, dropping from approximately 162,000 employees to about 141,000. The company’s own annual filing with the Securities and Exchange Commission ties part of that reduction to artificial intelligence, stating that AI tools “have resulted, and may continue to result” in lower demand…
Terrence Chalk, a self-described wealth advisor who operated under the alias “Dr. Cash,” was sentenced to three years in federal prison for running a Ponzi scheme that targeted churchgoers and attendees of wealth-building seminars. The U.S. Attorney’s Office for the Southern District of New York labeled Chalk a “serial fraudster,” a characterization tied to his…
Technology companies shed 38,242 jobs in May, the steepest single-month total the sector has recorded in nearly two years. The cuts span multiple firms that had already signaled multi-quarter restructuring plans, raising a pointed question: are these fresh losses that will ripple through the broader labor market, or are they the tail end of reorganizations…
Renters searching for a one-bedroom apartment in San Francisco now face advertised prices that have crossed a threshold no previous market cycle reached. The typical one-bedroom asking rent in the city has topped $4,000 a month for the first time, according to the MTC/ABAG Vital Signs indicator that tracks advertised rents across the Bay Area….
Tens of thousands of American workers have already lost their jobs this year because their employers said artificial intelligence could do the work instead. The running total of AI-attributed U.S. job cuts in 2026 has reached 87,714, a figure that exceeds the entire 2025 count. Two of the clearest cases on the corporate record belong…