The financial news that actually matters
Sixty-seven workers at the downtown Dallas Neiman Marcus store will lose their jobs when the location shuts its doors for good on Sept. 30, 2026. Saks Global, the parent company operating under Chapter 11 bankruptcy protection, filed the required layoff notice with the state on June 12, setting a firm deadline for the flagship store’s…
Nearly 250 workers at the Frito-Lay plant in Rancho Cucamonga, California, are losing their jobs as the snack giant shuts down a facility that operated for close to 35 years. The closure, which unfolded in stages beginning in mid-2025, marks the end of a site long associated with the production of Flamin’ Hot Cheetos and…
Workers earning well above the Roth IRA income thresholds will not lose access to tax-free retirement growth in 2026. The IRS confirmed that the individual retirement account contribution limit rises to $7,500 for the year, and income phase-out ranges for direct Roth IRA eligibility also increased. But the two-step conversion strategy known as the backdoor…
Roughly 1.5 million veterans who receive disability compensation could see their benefits reduced under a bill that House Republicans have moved toward a floor vote. H.R. 9237, titled the Take Care of America’s Veterans Act, includes a provision known as Section 108 that would offset the cost of expanding benefits for combat-injured military retirees by…
Bitcoin holders watching their portfolios shrink have a new data point to consider: the iShares Bitcoin Trust ETF, the largest spot bitcoin fund in the United States, has been filing updated disclosures with the SEC that spell out exactly how large-scale redemptions force the trust to liquidate actual bitcoin. With the cryptocurrency sliding to roughly…
Consumers who were charged for Amazon Prime memberships they never agreed to can now file for refunds through a federal program that requires no receipts, no screenshots, and no proof of purchase. The Federal Trade Commission, which accused Amazon of enrolling people without clear consent and then making cancellation deliberately difficult, maintains an active refund…
James Wellesley, a British citizen who operated under at least two aliases, was sentenced to 10 years in federal prison for orchestrating a $97 million Ponzi scheme through a sham wine investment company called Bordeaux Cellars. U.S. District Judge Pamela K. Chen imposed the sentence after Wellesley pleaded guilty to wire fraud conspiracy in Brooklyn…
FAT Brands Inc., the parent company behind Fatburger, Johnny Rockets, and more than a dozen other restaurant chains, has effectively been broken apart through a court-supervised asset sale after filing voluntary Chapter 11 petitions. A buyer called FBG Bid Co. purchased substantially all assets of certain FAT Brands subsidiaries for $595 million, a figure that…
Taxpayers who file accurate returns early in the season stand a better chance of clearing IRS fraud filters before processing volumes spike and verification backlogs grow. The agency’s pre-refund screening systems compare reported wages and withholding against employer records, and any mismatch can freeze a refund for weeks. For filers whose data checks out, submitting…
The Social Security Board of Trustees released its 2026 annual report on June 9, projecting that the combined Old-Age and Survivors Insurance and Disability Insurance trust funds will be depleted in the third quarter of 2034. After that point, incoming payroll tax revenue would cover only 83 percent of scheduled benefits for the roughly 67…