The financial news that actually matters
Tyler Bossetti, a Columbus, Ohio social media influencer, received a 72-month federal prison sentence for running a Ponzi scheme through his company Boss Lifestyle LLC that raised more than $23 million between 2019 and 2023. Dozens of victims lost more than $11 million after Bossetti promised returns often exceeding 30 percent on what he marketed…
About 3,000 Intuit employees are losing their jobs as the company redirects resources toward artificial intelligence, a move disclosed alongside its third-quarter fiscal 2026 earnings results. The cuts represent roughly 17 percent of the workforce at the company behind TurboTax, QuickBooks, and Credit Karma. For the workers affected across multiple countries, the announcement converts a…
Florida residents shopping for homeowners insurance are staring down annual premiums approaching $8,500, a figure that dwarfs averages in every other state. The cost pressure comes after national home insurance prices jumped 12% in 2025, and fresh projections point to another 4% increase in 2026. For a state where hurricane and flood exposure already limits…
Rathnakishore Giri of New Albany, Ohio, who promoted himself as an expert Bitcoin-derivatives trader and promised investors guaranteed monthly returns with no risk, was sentenced to nine years in federal prison for running a Ponzi scheme that collected over $12,000,000 and at least 10 bitcoin from more than 150 customers. The sentence, which also includes…
Federal Reserve Chair Kevin Warsh used his first policy meeting to strip the forward-guidance language that bond traders, pension managers, and mortgage borrowers have relied on since the 2008 financial crisis. The FOMC statement released June 17, 2026, approved by a unanimous 12-0 vote, dropped the sentence describing the expected path of the federal funds…
American credit-card holders collectively paid a record $253 billion in interest and fees last year, roughly triple the total recorded in 2021. That figure, derived from aggregating quarterly bank regulatory filings across all reporting institutions, reflects the combined pressure of higher revolving balances and elevated interest rates on household budgets already strained by years of…
Chipotle Mexican Grill told investors in its Q1 2026 earnings release that customers across all income levels are pulling back on spending, a shift from earlier quarters when the company described the pressure as concentrated among lower-income diners. The disclosure, filed as an SEC exhibit, signals that persistent restaurant-price inflation and broader household financial stress…
Rivian has started handing its R2 SUV to public customers, a vehicle the company needs to sell in high volume if it is ever going to turn a sustained profit. The first trim reaching driveways is the R2 Performance with Launch Package, priced at $57,990, with employee deliveries having begun in April and public orders…
Couples sitting on more than $250,000 in bank deposits can protect every dollar without resorting to exotic financial products. The Federal Deposit Insurance Corporation insures deposits at $250,000 per depositor, per insured bank, per ownership category. By spreading cash across multiple banks and using distinct ownership categories, a married couple can push total insured balances…
Workers who received a raise this year that roughly tracks inflation will not owe a higher marginal federal tax rate in 2026. The IRS announced inflation adjustments for more than 60 tax provisions, including all seven rate brackets, lifting each threshold by about 2.7 percent. That shift, published in IR-2025-103 and reflecting amendments from the…