The financial news that actually matters
Married couples filing jointly who keep their taxable income below $98,900 in 2026 will owe zero federal tax on long-term capital gains realized that year. The IRS locked in that threshold through Rev. Proc. 2025-32, published after applying inflation adjustments required by the Internal Revenue Code. The new figures take effect for tax year 2026,…
Amazon is pulling the plug on most of its Amazon Fresh grocery stores and Amazon Go convenience shops, with the majority of locations set to close within days. The company announced the decision through a corporate blog post, marking the most significant retreat yet from its years-long experiment in physical retail. California stores will stay…
Railcrew Xpress LLC, a crew transportation company based in North Kansas City, Missouri, is eliminating more than 400 jobs after CSX canceled a major contract. The layoffs, triggered by a contract termination effective Feb. 27, 2026, are hitting workers across multiple states simultaneously. WARN Act filings in Florida and North Carolina, all dated Dec. 22,…
JPMorgan Chase CEO Jamie Dimon warned investors at a sovereign-wealth conference in Oslo that the next credit downturn could hit harder than most of Wall Street anticipates. The remarks, delivered at a Norges Bank Investment Management event, came shortly after JPMorgan posted strong quarterly earnings, making the timing of the caution all the more pointed….
Thousands of American retail workers and shoppers face growing disruption as U.S. store closures accelerate through 2026. With roughly 1,200 shutdowns already announced and the annual pace tracking toward nearly 7,900, the pressure is hitting both specialty boutiques and large-format convenience chains. Two of the most concrete cases so far involve francesca’s, which filed for…
Tricolor, a subprime used-car seller and lender concentrated in the U.S. Southwest, filed for bankruptcy in September 2025, forcing the closure of roughly 60 dealership locations and stranding thousands of borrowers who depended on the company for both vehicle purchases and loan servicing. According to contemporaneous news coverage, the company’s collapse abruptly halted originations and…
International Motors, headquartered in Lisle, Illinois, is cutting 300 corporate jobs as demand for new trucks softens across the heavy-duty segment. The layoffs were disclosed through a filing on the state’s official Worker Adjustment and Retraining Notification database, making it one of the larger white-collar reductions in the Chicago suburbs this year. The cuts land…
SK Battery America Inc. cut 958 workers from its electric-vehicle battery plant in Commerce, Georgia, eliminating about 37% of the site’s workforce. The layoffs, filed through a state WARN notice by HR chief Chuck Moore, left roughly 1,600 employees at the facility. Pay continuation for affected workers runs through May 6, but the scale of…
Buyers who had been sitting on the sidelines through much of early 2026 stepped back into the housing market in May, pushing pending home sales up 3.8 percent for the month. The gain, the strongest monthly increase this year, arrived even as mortgage rates stayed elevated and home prices continued to climb. That combination of…
Millions of homeowners who itemize their federal tax returns can now deduct up to $40,000 in state and local taxes, quadrupling the $10,000 ceiling that had been locked in place since the 2017 tax overhaul. The higher cap applies to tax year 2025, meaning filers will first use it on returns due in 2026. Married…