The financial news that actually matters
Californians who have struggled to escape unwanted subscriptions now have a direct legal tool on their side. AB-2863, which amended the state’s Automatic Renewal Law, took effect on July 1, 2025, and applies to any contract entered into, amended, or extended on or after that date. The law requires businesses to display a continuously visible…
Blue Diamond Growers plans to shut down its longtime Sacramento almond processing plant, a move that will eliminate roughly 600 jobs at a facility that has operated for more than a century. The cooperative filed a Worker Adjustment and Retraining Notification with the state, triggering a 60-day countdown for affected workers and putting Sacramento County…
More than 330,000 importers paid roughly $166 billion in tariffs that the Supreme Court later struck down as unlawful under the International Emergency Economic Powers Act. So far, Customs and Border Protection has directed the Treasury to send back only about $23 billion, leaving the vast majority of businesses still waiting for money the government…
Nike expects President Trump’s tariffs on goods from China and Mexico to add roughly $1 billion in extra costs, a hit the sportswear giant says is already dragging down profit margins and raising the prospect of higher prices at the register. The company disclosed the figure in its quarterly filing with the Securities and Exchange…
Millions of hourly workers across the United States now have a new way to trim their tax bills. Under provisions enacted as part of the One, Big, Beautiful Bill, employees who earn overtime pay can deduct up to $12,500 of that extra compensation each year, with joint filers eligible for up to $25,000. The break…
Short-seller Jim Chanos is raising alarms about the financial health of CoreWeave, the AI cloud infrastructure company that went public in 2025 and has since seen its stock surge roughly 300%. Chanos, known for identifying overvalued companies before their declines, is pointing to what he sees as structural weaknesses in CoreWeave’s balance sheet, built on…
A record share of 401(k) participants withdrew emergency cash from their retirement accounts last year, driven in part by new penalty-free distribution rules Congress created through the SECURE 2.0 Act. The surge raises pointed questions about whether easier access to retirement savings is helping workers through genuine crises or quietly draining the accounts they will…
Federal prosecutors in Los Angeles charged 10 people with running a prescription drug fraud scheme that billed Medi-Cal nearly $270 million in just 11 months through a single Montclair, California, pharmacy. The case, built around Monte Vista Pharmacy, alleges that defendants used kickbacks and fake prescriptions to extract more than $178 million in payments from…
Married couples who sell a primary residence can shield as much as $500,000 in capital gains from federal income tax, a benefit rooted in a 1997 law and administered through IRS rules that hinge on strict ownership and residency tests. But in markets where home values have climbed sharply over the past decade, that half-million-dollar…
Scammers are sending text messages that look like IRS refund notifications, complete with QR codes that redirect recipients to fake government websites designed to harvest bank login credentials. The IRS flagged this tactic on its 2026 Dirty Dozen tax scams list, warning that fraudulent texts, emails, and direct messages now routinely impersonate the agency and…