The financial news that actually matters
Raymond James Financial said it has entered into an agreement to acquire Clark Capital Management Group, a Philadelphia-based firm overseeing more than $46 billion in assets, in a transaction that would expand the buyer’s investment management division. The transaction, structured through Raymond James Investment Management and its subsidiary Carillon Tower Advisers, is expected to close…
The Federal Reserve held interest rates steady on January 28, 2026, but the language in its official statement and the economic data surrounding the decision suggest policymakers are increasingly focused on when it may be appropriate to begin cutting rates, potentially as soon as the next few meetings. A softening labor market, delayed government data…
American households carried sharply higher debt loads into bankruptcy court over the past two years, with total filings climbing 16.2% in the twelve months ending June 2024 and continuing to rise into 2025. The increase, driven almost entirely by consumer cases rather than business restructurings, reversed a years-long decline that followed pandemic-era relief programs. What…
Tricolor Holdings, a used car seller and subprime auto lender that served low-income buyers across the southern United States, has collapsed under the weight of federal fraud allegations, leaving thousands of borrowers uncertain about the status of their car loans. The company’s CEO, CFO, and COO now face criminal charges in connection with what prosecutors…
United Parcel Service said Tuesday that it plans to cut as many as 30,000 jobs in 2026, adding to roughly 48,000 positions the company eliminated last year as it accelerates a costly restructuring tied to shrinking volumes from its largest customer, Amazon. The announcement, made during UPS’s latest earnings call, signals that the delivery giant’s…
The Federal Reserve’s latest Beige Book paints a split-screen picture of the U.S. economy: overall growth is inching forward, but the spending power behind that expansion is concentrated among wealthier households. Lower- and middle-income consumers, meanwhile, are pulling back on discretionary purchases as price sensitivity deepens. The gap between these two groups is widening enough…
The largest U.S. banks shed jobs at the fastest clip in nearly a decade through 2024 and 2025, driven by aggressive investment in artificial intelligence and automation tools designed to cut costs. Wells Fargo, JPMorgan Chase, and their peers filed annual disclosures showing workforce numbers that reflect a sustained contraction, even as revenues held steady…
The average transaction price for a new vehicle in the United States climbed to $49,191 in February, setting an all-time record as buyers rushed to close deals ahead of steep tariffs on imported automobiles. The price spike, up 3.4% year over year according to Kelley Blue Book, lands just weeks before a 25% tariff on…
Goldman Sachs has shifted its forecast for the Federal Reserve’s first interest rate cut to June, responding to a string of inflation readings that came in stronger than Wall Street expected. The move reflects growing unease among major banks that sticky consumer prices will keep the Fed on hold longer than markets had hoped. For…
Monthly child care bills can exceed $5,000 in some parts of the U.S., pushing the annual cost of infant care well past what many families pay for a year of in-state college tuition. The gap between what parents spend on care for young children and what they earn has widened sharply, with recent reporting and…