The financial news that actually matters
Customers of Fidelity Investments whose personal data was exposed during a three-day breach last summer are now facing a single deadline to claim a payment of roughly $100. The offer stems from the firm’s acknowledgment that between August 17 and 19, 2024, an unauthorized third party created new customer accounts and used them to extract…
Every Roth IRA owner in the United States already has access to a withdrawal option that most traditional retirement accounts do not offer: the ability to pull out original contributions at any age, for any reason, without owing federal income tax or an early-distribution penalty. Federal law spells out a specific ordering sequence that treats…
Michael Burry, the investor who famously predicted the 2008 financial crisis, declared on May 11, 2026, that the stock market has “jumped the shark” and that the current tech rally mirrors the conditions that preceded the dot-com crash of 2000. Burry pointed to the Nasdaq 100’s steep climb and a sharp run in semiconductor stocks…
Investors in artificial-intelligence and semiconductor stocks lost ground fast on June 23, 2026, when the Nasdaq Composite dropped 2.2 percent in a single session, closing at 25,587.040. The sell-off hit hardest among chip companies that had posted the largest gains during a months-long rally tied to AI spending. The speed of the decline now raises…
Families inheriting property in 2026 face a federal tax system that can erase decades of capital gains in a single step, but Congress and the IRS have built reporting rules that cap how much benefit heirs actually receive. Under the statute governing inherited assets, a beneficiary’s cost basis resets to fair market value on the…
Joann, the largest dedicated fabric and craft chain in the United States, is shutting down every remaining store after no buyer stepped forward to keep even a reduced version of the business running. The closure follows a bankruptcy auction in which GA Group and term lenders were selected as the winning bidder to acquire substantially…
Households carrying high credit-card balances relative to their limits can see their scores drop fast, but the reverse is also true. Federal guidance from the Consumer Financial Protection Bureau confirms that credit scores weigh how close a cardholder is to being maxed out, and that crossing below widely cited utilization thresholds can produce visible score…
Millions of American car buyers are stretching their budgets further than at any point on record, with total outstanding auto loan debt hitting $1.68 trillion and a record share of new-vehicle purchasers now locked into monthly payments of $1,000 or more. The strain is not limited to luxury buyers. Rising sticker prices, elevated interest rates,…
Joann, the largest dedicated sewing and crafts retailer in the United States, is shutting down every remaining store after filing for Chapter 11 bankruptcy protection for the second time in less than a year. The company had initially framed its January 2025 filing as a path toward a court-supervised sale, but the process shifted to…
Restaurants, caterers, and other commercial food buyers who purchased raw beef in the United States over the past decade can now file claims against a $47,000,000 settlement fund from Tyson, and they do not need receipts or purchase records to do so. The filing window closes June 30, 2026, giving eligible businesses a limited time…