The financial news that actually matters
Evan Tangeman, a 22-year-old from Newport Beach, California, pleaded guilty to RICO conspiracy for his role in a social-engineering operation that stole approximately 4,100 bitcoin, valued at about $263 million at the time of the theft. The case, filed in U.S. District Court in Washington, D.C., has now produced multiple guilty pleas and a superseding…
Anyone with more than $250,000 sitting in a single ownership category at one FDIC-insured bank faces a straightforward risk: the excess is uninsured. That ceiling, formally called the Standard Maximum Deposit Insurance Amount, applies per depositor, per bank, and per ownership category, covering principal and accrued interest through the date of a bank’s closing. The…
Americans buying coffee, tea, juice, and other nonalcoholic beverages at the grocery store face a 5.2 percent price increase this year, according to the latest federal forecast. The jump, driven largely by higher import costs after the White House amended reciprocal tariffs on shipments from China in April 2025, is already showing up in monthly…
Anyone who inherits an IRA from a person who died after Dec. 31, 2019, now faces a hard deadline: the entire account must be emptied by the end of the tenth year following the year of death. Miss that window and the remaining balance gets hit with steep tax penalties. The rule, written into federal…
Rivian Automotive lifted its full-year 2026 delivery forecast after a second quarter that exceeded the company’s own projections, sending shares up roughly 8 percent on a day when rival EV maker Lucid Motors disclosed weaker results and leadership changes. The upward revision, from a range of 62,000 to 67,000 vehicles to 65,000 to 70,000, reflects…
Anyone who spots securities fraud and reports it to the U.S. Securities and Exchange Commission stands to collect between 10% and 30% of the money the agency recovers, provided sanctions in the case exceed $1 million. That financial incentive, written into federal law more than a decade ago, turns employees, investors, and analysts into potential…
Chip investors got a jolt when Meta Platforms signaled during its 2026 annual shareholder meeting that it could rent out unused artificial intelligence computing power to outside customers. The remarks, delivered at the May 27, 2026 virtual audio webcast, landed against a backdrop of staggering infrastructure commitments: Meta has guided 2026 capital expenditures at $125…
Federal regulators and prosecutors allege that a Chicago-based investment adviser raised roughly $4 million from about 28 investors, most of them his own family members, friends, and acquaintances, then funneled new money to earlier investors in a classic Ponzi-style cycle. John Sterling Myers, along with his firms Sterling Capital, LLC and Sterling Capital Management, LLC,…
New orders for manufactured goods dropped $8.5 billion in May 2026, falling 1.3% to $657.4 billion after a 5.3% surge in April. The reversal, reported by the U.S. Census Bureau, signals that business demand for factory output is losing momentum even as shipments and backlogs continued to grow. For manufacturers, purchasing managers, and economic forecasters,…
Homeowners hoping to cut their monthly mortgage payments face a tougher road this week after the average 30-year refinance rate ticked up to 6.82 percent. The Federal Reserve’s policy committee released a statement on June 17, 2026, reaffirming that inflation remains elevated, a signal that borrowing costs are unlikely to ease soon. That language, paired…