The financial news that actually matters
More than 330,000 U.S. importers are waiting for the federal government to return roughly $166 billion in tariff payments that courts have struck down, and the tab keeps climbing. Interest on the refund principal is accruing at a pace exceeding $20 million per day, a rate that translates to hundreds of millions of dollars each…
U.S. employers added 172,000 jobs in May, capping the strongest three-month hiring stretch in more than two years. The Bureau of Labor Statistics released its Employment Situation report on June 5, 2026, showing that payroll growth has stayed well above the level Federal Reserve economists say is needed to keep unemployment stable. That gap between…
Triple RRR Carriers, Inc., a Texas-based trucking company operating 177 vehicles and employing 286 drivers, filed a voluntary Chapter 7 bankruptcy petition on June 5, 2026, in the U.S. Bankruptcy Court for the Southern District of Texas. The filing, assigned case number 26-50079, signals a full liquidation rather than a restructuring, meaning the carrier’s entire…
Seventy-eight workers at Apple’s Towson Town Center store in Maryland will lose their jobs when the location permanently closes on June 24, 2026. The store, at 825 Dulaney Valley Road, became the first Apple retail location in the United States to unionize in 2022. A federal unfair labor practice charge was filed against Apple on…
Workers and families covered by high-deductible health plans can shelter more money from taxes starting in January. The IRS set the 2026 health savings account contribution ceiling at $4,400 for self-only coverage and $8,750 for family coverage, up from the 2025 figures. At the same time, new federal legislation has widened the pool of plans…
Electronic Arts, the publisher behind FIFA, Madden NFL, and The Sims, agreed to a $55 billion cash buyout led by Saudi Arabia’s Public Investment Fund and Silver Lake, a deal that would rank as the largest private-equity acquisition ever completed. Each EA share will convert to $210 in cash under the terms signed on Sept….
Wealthy Americans filing tax returns with $1 million or more in income face far less scrutiny from the IRS than they did a decade ago. The agency examined roughly 16,800 such returns in the most recent fiscal year on record, a steep fall from about 41,000 a decade earlier. That decline has unfolded even as…
U.S. importers moved fast after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act. By May 22, Customs and Border Protection had accepted refund applications covering $85 billion of the estimated $166 billion in duties the government collected. That filing pace, reaching more than half the total in a matter…
Taxpayers who report between $200,000 and $1 million in positive income face roughly 4.5 audits for every 1,000 returns filed, a rate that has dropped steadily over the past decade as IRS staffing shrank. That modest examination rate sits well below the levels applied to the highest earners, yet it also falls short of what…
Trumbull Mall lost its Apple Store this month, stripping one of the last high-profile tenants from a Connecticut shopping center already weighed down by a defaulted loan with a cut-off balance of $152.3 million. First Selectman Vicki Tesoro called the departure disappointing for residents who relied on the store, and the town now faces hard…