The financial news that actually matters
Consumers who receive a phone call, text, or email demanding that they settle a debt, tax bill, or legal threat by purchasing gift cards and reading off the numbers are being targeted by one of the most persistent fraud schemes in the country. The Federal Trade Commission, the IRS, and the FBI have each stated…
Workers who hold large shares of their employer’s stock inside a 401(k) are staking both their paycheck and their retirement savings on a single company’s performance. A Government Accountability Office analysis of Form 5500 filings found that participants in plans offering employer securities often failed to diversify, concentrating risk in the very firm that also…
Hundreds of thousands of U.S. importers now face a scramble for refunds after the Supreme Court struck down President Trump’s emergency tariffs in a 6-3 decision. The ruling in Learning Resources, Inc. v. Trump, docket number 24-1287, invalidated the reciprocal duties imposed through Executive Order 14257, which was issued on April 2, 2025. A Customs…
Oracle cut more than 20,000 jobs over the past fiscal year and warned that additional workforce reductions tied to artificial intelligence could follow, even as the company disclosed plans to raise as much as $50 billion in 2026 to build out AI data centers. The company’s annual filing, submitted to regulators on June 22, 2026,…
Millions of Americans who hold retirement savings in broad index funds watched their balances drop on Friday after a sharp selloff in technology and semiconductor stocks wiped out roughly $1.4 trillion in market value in a single session. The damage was concentrated in the same AI-exposed chip names that dominate the S&P 500 and popular…
A worker who loses a paycheck without cash reserves faces a fast, painful choice: fall behind on bills or start charging essentials to a credit card at double-digit interest rates. Federal agencies and independent analysts agree that holding three to six months of living expenses in liquid savings is the single most effective barrier between…
Braden John Karony, the CEO of SafeMoon US LLC, was sentenced to 100 months in federal prison in Brooklyn after pleading guilty to securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. U.S. District Judge Eric Komitee also ordered Karony to forfeit approximately $7.5 million in assets tied to the scheme. The sentence caps…
A company that never filed a lawsuit may still be owed millions in tariff refunds. That is the upshot of a March 5, 2026, ruling by the United States Court of International Trade, which held that “all importers of record” can claim money back after the Supreme Court struck down tariffs imposed under the International…
A wine importer that challenged Trump-era tariffs in federal court has received a six-figure refund check from U.S. Customs and Border Protection, one of the first confirmed payouts under a new electronic system built to process claims tied to duties the Supreme Court struck down. The payment arrived through CBP’s Consolidated Administration and Processing of…
Customers who break open a certificate of deposit before its maturity date can forfeit months of earned interest in a single transaction. Federal banking rules require institutions to disclose early-withdrawal penalties but place no ceiling on how steep those penalties can be. The result is a system where the fine print, not the advertised rate,…