The financial news that actually matters
SpaceX appears to be moving closer to one of the most anticipated public offerings in years, with four of Wall Street’s biggest banks now in the frame for senior roles on a potential 2026 IPO. The company has not publicly filed to go public, and the process is still subject to market conditions and internal…
The Supreme Court on Wednesday appeared deeply skeptical of giving the White House broad power to remove Federal Reserve board members, a signal that could preserve one of the central bank’s most important institutional protections. Over roughly two hours of argument in Trump v. Cook, justices across the bench pressed the administration on a basic…
Amazon has cut about 16,000 corporate jobs in what amounts to the biggest layoff round in the company’s history, deepening a restructuring push that had already eliminated roughly 14,000 similar roles just three months earlier. The latest move brings Amazon’s total corporate reductions since October to about 30,000, a sharp rollback for a company that…
Twenty-one states raised their minimum wages on January 1, 2026, with Washington state claiming the highest statewide rate in the country at $17.13 per hour. The wave of increases, driven largely by automatic cost-of-living adjustments written into state law, reflects a growing reliance on inflation-indexed formulas that tie wage floors to federal price data. For…
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…
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…
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 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…