The financial news that actually matters
Technology companies shed 38,242 jobs in May, the steepest single-month total the sector has recorded in nearly two years. The cuts span multiple firms that had already signaled multi-quarter restructuring plans, raising a pointed question: are these fresh losses that will ripple through the broader labor market, or are they the tail end of reorganizations…
Renters searching for a one-bedroom apartment in San Francisco now face advertised prices that have crossed a threshold no previous market cycle reached. The typical one-bedroom asking rent in the city has topped $4,000 a month for the first time, according to the MTC/ABAG Vital Signs indicator that tracks advertised rents across the Bay Area….
Tens of thousands of American workers have already lost their jobs this year because their employers said artificial intelligence could do the work instead. The running total of AI-attributed U.S. job cuts in 2026 has reached 87,714, a figure that exceeds the entire 2025 count. Two of the clearest cases on the corporate record belong…
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…
Americans shopping for a new car are now borrowing more than ever to drive off the lot, with average financed amounts reaching record territory. The Federal Reserve tracks total motor vehicle loan balances through its Consumer Credit release, while the Bureau of Labor Statistics measures new vehicle transaction prices through the Consumer Price Index. Together,…
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…
CVS Health set in motion a plan to close approximately 900 retail stores between 2022 and 2024, cutting roughly 300 locations per year while also trimming 2,900 corporate positions. The restructuring represents one of the largest pharmacy footprint reductions in the United States during a period when nearly 30 percent of all drugstores have disappeared….
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…
American car buyers are now borrowing more than ever to drive off the lot. The average amount financed for a new vehicle has reached a record $43,899, stretching household budgets at a time when income growth has struggled to keep pace with rising prices. With the Federal Reserve tracking steady increases in motor vehicle credit…