The financial news that actually matters
Michael Burry’s Scion Asset Management filed its latest quarterly holdings report with the SEC on November 3, 2025, revealing put options on Nvidia as of September 30. The disclosure places the fund manager who famously bet against the housing market before the 2008 financial crisis on the opposite side of the trade from investors piling…
Costco Wholesale kept ringing up sales gains through the quarter ended May 10, 2026, even as broader U.S. retail spending showed signs of cooling. The company’s latest quarterly filing with the Securities and Exchange Commission details continued growth in merchandise revenue and membership-fee income during a stretch when government data pointed to softer results across…
Scharmaine Lawson Baker, a Louisiana nurse practitioner, will spend more than seven years in federal prison after a jury found she submitted over $12.1 million in false Medicare claims tied to medically unnecessary cancer genetic tests and kickback payments. The 87-month sentence, paired with $1,508,868.25 in restitution and three years of supervised release, closes one…
Low-income American households face a gasoline burden roughly four times larger than their wealthiest counterparts when measured as a share of after-tax income. Goldman Sachs flagged this gap in a client note drawing on federal Consumer Expenditure Survey data, and the disparity has persisted across multiple survey years. With crude-oil prices again volatile in 2026,…
Roughly 27,000 workers have lost their jobs at Intel across overlapping rounds of cuts that began in 2024 and continued into 2026, making the chipmaker’s restructuring one of the deepest workforce reductions in modern tech history. The company’s own quarterly filings with the Securities and Exchange Commission trace a clear line from announced targets to…
Best Buy’s outgoing chief executive, Corie Barry, is leaving behind a consumer spending pattern that her successor will have to solve: shoppers are active but refuse to pay full price. Barry’s planned departure as CEO and director is effective at the close of business on Oct. 31, 2026, with Jason Bonfig stepping into the role…
A North Carolina man lost $700,000 to a cryptocurrency investment scam and has not recovered a single dollar, even as federal prosecutors in the same district seized tens of millions in crypto assets tied to similar schemes. The case highlights a painful gap between large-scale enforcement actions and the individual victims left waiting for restitution,…
Federal prosecutors secured six jury trial convictions in health-care fraud cases spanning five judicial districts between May 13 and June 1, 2026, with alleged losses topping $1.1 billion. The cases ranged from a billion-dollar telehealth billing operation in Fort Lauderdale to a Nashville nurse practitioner who distributed nearly one million opioid pills. Taken together, the…
Michael Burry, the investor who profited from the 2008 mortgage collapse, is now targeting the largest AI infrastructure spenders in the United States. Through his advisory firm Scion Asset Management, Burry has built a short position tied to his claim that major technology companies are using depreciation accounting changes to hide roughly $176 billion in…
A Florida jury convicted Brett Blackman, owner of the health care software company HealthSplash, of conspiracy to defraud Medicare through a scheme that generated more than $1 billion in false claims for durable medical equipment patients never needed. The conviction follows a trial in the Southern District of Florida and adds to a string of…