The financial news that actually matters
American households carrying credit card debt are falling behind on payments at a pace not seen since the aftermath of the 2008 financial crisis. The seasonally adjusted delinquency rate on credit card loans at commercial banks has climbed to 3.12 percent, its highest reading in 15 years, according to Federal Reserve data drawn from bank…
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 confirmed the threshold in its annual inflation-adjustment announcement, which for the first time incorporates changes from the legislation known as the One, Big, Beautiful Bill. Returns for tax…
Anyone who turns 65 and skips Medicare prescription drug coverage without holding an equivalent plan will pay a monthly surcharge on Part D premiums for the rest of their enrollment. The penalty is not a one-time fee. It compounds over time because it is recalculated each year against the national base beneficiary premium, which CMS…
Servers, bartenders, hairstylists, and dozens of other tipped workers across the United States can now subtract up to $25,000 in qualifying tips from their federal taxable income each year for tax years 2025 through 2028. The deduction, created by a new Internal Revenue Code Section 224 as part of H.R. 1 from the 119th Congress,…
Berkshire Hathaway has now sold more stocks than it bought for 12 consecutive quarters, a streak without precedent in Warren Buffett’s six decades running the conglomerate. The pattern, visible across the company’s quarterly SEC filings through the period ended September 30, 2024, has pushed Berkshire’s cash reserves higher while major U.S. stock indexes have traded…
Hundreds of BBC journalists face redundancy as the broadcaster’s news division absorbs deeper spending reductions than any other part of the organization. Interim Director General Rhodri Talfan Davies told staff in an internal email that the corporation needs to shed up to 2,000 positions and save roughly 500 million pounds over two years, according to…
Michael J. Burry, the investor known for his successful bet against the U.S. housing market before the 2008 financial crisis, has placed a significant bearish wager on two of the most prominent AI-linked stocks. Scion Asset Management, the fund Burry runs, disclosed put options covering 1,000,000 shares of Nvidia and 5,000,000 shares of Palantir in…
Workers saving for retirement got a concrete boost when the IRS raised the annual IRA contribution limit to $7,500 for 2026, a $500 increase over the $7,000 cap that applied in 2025. The agency also lifted the catch-up contribution allowance for savers aged 50 and older to $1,100, up from $1,000. For households already stretching…
Car buyers stretching their payments over seven full years now represent a larger share of the new-vehicle financing market than at any previously recorded point. Loans lasting 84 months account for 22 percent of new auto financing, a figure that raises direct questions about how much total interest American households are absorbing and how quickly…
Vincent J. Camarda, a Long Island investment adviser who ran A.G. Morgan Financial Advisors, LLC, pleaded guilty in Central Islip federal court to securities fraud and investment adviser fraud after raising at least $138 million from more than 430 investors through what regulators describe as an offering fraud. The scheme, which began around June 2020,…