The financial news that actually matters
Federal prosecutors in the Middle District of Florida have charged Christopher Alexander Delgado, 34, of Apopka, Florida, with wire fraud and money laundering for allegedly running a Ponzi scheme through his firm Goliath Ventures, formerly known as Gen-Z Venture Firm. The government says Delgado obtained at least $328 million from investors between January 2023 and…
Oracle eliminated roughly 30,000 positions in the first half of calendar 2026, cutting nearly one-fifth of its workforce and carrying out the single largest layoff disclosed by any company this year. The reductions, tied to a formal restructuring plan the company began disclosing in late 2025, center on employee severance as Oracle shifts capital toward…
Every American taxpayer now has a fixed answer to a question that has loomed since the 2017 Tax Cuts and Jobs Act: the seven individual income tax rates, spanning 10% to 37%, will not snap back to their pre-2018 levels. Congress locked them in permanently through the One Big Beautiful Bill Act, designated H.R. 1,…
Shoppers at dozens of Saks Off 5th locations across the country will lose access to discounted luxury goods after Saks Global filed for Chapter 11 bankruptcy and announced plans to close 57 of its roughly 70 outlet stores. The company will keep just 12 Off 5th locations open while it restructures under court supervision, a…
Edwin Brant Frost IV, the founder and president of First Liberty Building & Loan LLC, faces a federal wire fraud charge for allegedly running a Ponzi scheme that solicited investor funds through purported short-term bridge loans. Prosecutors in the Northern District of Georgia say Frost used money from new investors to pay earlier ones, a…
JPMorgan Chase CEO Jamie Dimon warned in his latest annual shareholder letter that higher interest rates act like gravity on stock valuations, a phrase that closely mirrors a caution Warren Buffett delivered more than two decades ago. The parallel landed on April 5, 2026, when JPMorgan Chase published its 2025 Annual Report, and it arrives…
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…