The financial news that actually matters
Thousands of U.S. importers that paid tariffs later struck down by the Supreme Court are now caught between two conflicting government positions. The Treasury Department directed roughly $20.6 billion in refunds after the court invalidated tariffs imposed under the International Emergency Economic Powers Act. But the Justice Department has told a federal court that some…
Self-employed workers and retirees who earned income between June 1 and Aug. 31 face a firm Sept. 15 deadline to send their third quarterly estimated-tax installment to the IRS. Missing that date triggers an underpayment penalty under federal law, and the charge applies even if the taxpayer ends up receiving a refund when filing their…
Costco Wholesale and Dollar General have each filed fresh quarterly results with the Securities and Exchange Commission, and the numbers in those filings explain why fund managers keep returning to both stocks as defensive picks for the second half of 2026. Costco reported for the quarter ended May 10, 2026, while Dollar General covered its…
American grocery shoppers are paying sharply more for candy, chocolate, and other sweet products than they were a year ago, with federal data showing a 7.1 percent year-over-year increase in the sugar and sweets category as of May 2026. That rate far outpaces broader food-at-home inflation and reflects persistent pressure from elevated cocoa costs that…
Federal prosecutors charged the former CEO and CFO of iLearningEngines, a Nasdaq-listed AI company once valued at $1.4 billion, with running a years-long scheme that fabricated virtually all of the firm’s reported customers. Puthugramam “Harish” Chidambaran and Sayyed Farhan Ali “Farhan” Naqvi face counts including operating a continuing financial crimes enterprise, securities fraud, and wire…
Investors who sell a stock, fund, or other asset after holding it for more than one year face federal tax rates on the profit that can be less than half the rate charged on a quicker sale. The dividing line is written into the Internal Revenue Code, and the difference between a 366-day hold and…
Amazon customers are financing a growing portion of their Prime Day purchases through buy-now-pay-later plans, a shift that tracks with a broader surge in short-term installment lending across U.S. e-commerce. More than one-fifth of consumers with a credit record used BNPL in 2022, according to the Consumer Financial Protection Bureau, and usage was concentrated among…
Residential electricity customers served by PPL Electric Utilities will see higher monthly bills after Pennsylvania regulators approved a settlement that resolves the company’s distribution rate review. The increase affects roughly 1.5 million accounts across eastern and central Pennsylvania, pushing a typical household bill to about $184 per month. PPL had originally sought approximately $356 million…
Craig Kirsner, a Florida-based money manager, has declared he is “100% certain” that a stock market downturn will begin this summer. That claim arrived the same week the Federal Reserve held its June 16-17, 2026 FOMC meeting, where the Fed chair described inflation as manageable and economic growth as solid. The gap between one adviser’s…
Tens of thousands of gig workers who cleaned homes and assembled furniture through the Handy platform are about to receive checks from the federal government. The Federal Trade Commission is mailing more than $2.7 million to 62,893 people who worked for Handy Technologies between January 2019 and November 2024, resolving allegations that the company lured…