The financial news that actually matters
A household with $500,000 in savings can keep every dollar federally insured without complex trust structures or joint-account workarounds. The mechanism is straightforward: the FDIC calculates coverage per depositor at each separately chartered bank, so splitting a balance evenly across two institutions doubles the protection from $250,000 to $500,000. That per-bank rule, grounded in federal…
Ubisoft cut more than 380 jobs and shut down studios in Winnipeg and Belgrade this month while restructuring its Barcelona office, shrinking a global workforce that stood at 16,590 as recently as March 2026. The closures hit weeks after the publisher released full-year earnings, raising questions about which remaining teams will absorb the canceled studios’…
I Squared Logistics, a delivery contractor operating out of Garner, North Carolina, shut down its facility and eliminated 160 jobs with almost no warning to the drivers and support staff who depended on the work. The closure, tied to the end of the company’s contract with Amazon, left workers scrambling in a region where similar…
Smoky Mountain Logistics, LLC, a Tennessee-based trucking carrier, will shut down and lay off 145 workers effective Feb. 28, 2026. The closure was disclosed through a formal WARN notice filed with the state, placing more than a hundred drivers and support staff in the position of finding new work during a period of persistent pressure…
About 2,000 truck drivers who haul mail for the United States Postal Service are losing their jobs as 10 Roads Express LLC, a contractor that has operated for 47 years, shuts down. A WARN notice filed in Virginia sets the impact date at January 30, 2026, and lists 70 workers in Harrisonburg who will be…
More than 2,000 logistics and manufacturing workers across multiple states received layoff notices as 2026 began, with state WARN filings showing cuts at distribution hubs and transportation service providers effective in late February. United Parcel Service is eliminating 128 positions at its Montgomery, Alabama facility, while Railcrew Xpress is cutting 29 jobs across two Virginia…
Federal agents arrested Tricolor Auto founder and CEO Daniel Chu on fraud charges tied to the subprime auto lender’s sudden collapse into Chapter 7 bankruptcy. The filing, entered around September 10, 2025, exposed more than $1 billion in liabilities and triggered criminal indictments against three top executives. At least one major bank has already disclosed…
Older Americans lost an average of more than $38,000 each to fraud last year, according to the FBI, with gift cards still ranking among the most common payment methods scammers demand. That per-victim figure lands hardest on people over 60, many of whom are on fixed incomes and have little chance of recovering funds once…
Workers at the Belvidere Assembly Plant in Illinois lost their jobs when Stellantis idled the facility, and now the promised investments that were supposed to bring them back, including a new EV battery plant, a parts distribution center, and a retooled truck production line, are in doubt. U.S. Senator Dick Durbin of Illinois publicly called…
Papa John’s International closed nearly 50 restaurants and eliminated 7 percent of its corporate workforce this spring, moves disclosed in the company’s first-quarter 2026 earnings results filed with the U.S. Securities and Exchange Commission on May 7, 2026. The cuts land as the pizza chain works through a broader restructuring effort designed to tighten operations…