The financial news that actually matters
GameStop is preparing to shut more than 470 stores this year, extending a contraction that has already eliminated hundreds of locations across the United States and abroad. The closures follow a fiscal year in which the video-game retailer pulled back from well over 500 U.S. stores, according to its annual filings with the Securities and…
Roughly three million Texans who hold state hunting and fishing licenses have been told that an unauthorized actor gained access to a vendor system storing their driver’s license numbers, passport numbers, email addresses, phone numbers, and residential addresses. The Texas Parks and Wildlife Department disclosed the incident after Texas Cyber Command flagged the intrusion, putting…
American grocery shoppers are paying sharply more for beef, and the price surge traces directly to a shrinking national cattle herd. Retail beef and veal prices rose 12.9% between May 2025 and May 2026, according to the latest Consumer Price Index release from the U.S. Bureau of Labor Statistics. That jump coincides with the smallest…
Economist Peter Schiff has spent months warning that a severe economic downturn will hit the United States in 2026, one he says will make the 2008 financial crisis “look like a Sunday school picnic.” His argument centers on what he describes as an eroding dollar reserve status and unsustainable foreign demand for U.S. debt. Yet…
Goldman Sachs now sees a 30 percent chance that the U.S. economy tips into recession in 2026, up from its earlier estimate of 25 percent. The revision follows a sharp rise in oil prices and diesel costs that have crossed the $5-per-gallon mark, feeding directly into freight, shipping, and consumer prices. At least one other…
Vincent Camarda, a Long Island investment adviser who ran A.G. Morgan Financial Advisors, LLC, pleaded guilty to securities fraud and investment adviser fraud in federal court in Central Islip. The scheme raised at least $138 million from at least 431 investors, many of them elderly or financially unsophisticated, through promissory notes tied to five private…
Businesses that paid tariffs later struck down by the Supreme Court face a hard deadline baked into federal customs law: if U.S. Customs and Border Protection finalized their entries more than 90 days ago, the agency can no longer fix the problem on its own. Those importers must now file individual lawsuits in the U.S….
Americans who lose their jobs are now spending nearly three months searching for new ones, a stretch not seen since the labor market was still shaking off pandemic-era disruptions. The Bureau of Labor Statistics reported that the seasonally adjusted median duration of unemployment hit 11.6 weeks in May 2026, while the mean duration stood at…
Homeowners across the United States face a fifth straight year of rising insurance costs, with average premiums projected to climb 4% in 2026 after surging 12% in 2025. That back-to-back increase translates to roughly 16% cumulative growth over two years, adding hundreds of dollars to annual household expenses at a time when budgets are already…
Gary Shilling, the economist who correctly identified the onset of the recession that peaked in December 1969 and bottomed out in November 1970, is now warning that a new economic contraction is “almost inevitable” before the end of 2026. His forecast puts households, business owners, and investors on notice at a time when spending and…