The financial news that actually matters
Every one of Eddie Bauer’s 174 U.S. stores will close after the company’s retail operator filed for Chapter 11 bankruptcy protection. Eddie Bauer LLC, the entity responsible for running the brand’s physical locations, submitted its petition in the U.S. Bankruptcy Court for the District of New Jersey under Case No. 26-11422-SLM. The filing separates the…
ServiceNow has cut hundreds of positions across California offices, according to state labor filings, as the cloud software company shifts resources toward artificial intelligence. The reductions come after the company’s most recent quarterly financial disclosure attributed rising costs directly to growing headcount, setting up a tension between the staff-heavy spending model that fueled ServiceNow’s expansion…
Federal prosecutors have built a string of cases against mortgage brokers who pitched investors annual returns ranging from 14 percent to 100 percent, then used incoming capital to pay earlier backers rather than generating real profits from loan activity. The schemes span multiple states and collectively involve well over $100 million in alleged losses. Several…
About 2,700 retail investors lost roughly $402 million after a Lititz, Pennsylvania, man allegedly funneled their savings into ATM-related funds that federal authorities now say were fraudulent from the start. Daryl F. Heller, 55, was arrested on one count of securities fraud and four counts of wire fraud in connection with a scheme that raised…
Daryl F. Heller, a 55-year-old from Lititz, Pennsylvania, ran two investment firms that collected more than $770 million from investors over seven years while causing roughly $400 million in losses, according to federal regulators and prosecutors who filed civil and criminal charges against him. The Securities and Exchange Commission and the U.S. Attorney’s Office for…
American consumers paid higher prices on imported goods for years while tariffs collected billions of dollars at the border. Now that the Supreme Court has ruled those tariffs illegal, the refund money is flowing back to the companies that paid it, not to the shoppers whose wallets absorbed the cost. U.S. Customs and Border Protection…
More families are juggling late payments on credit cards, auto loans, and student debt at the same time, according to new credit-bureau analysis prepared for Bloomberg News. Researchers at the Urban Institute report that student loan delinquency has climbed back to prepandemic levels and is now concentrated among borrowers carrying larger balances and more types…
Starting in 2026, workers aged 50 and older can contribute up to $32,500 to a 401(k) plan, combining a $24,500 base limit with an $8,000 catch-up contribution. The IRS set these figures through Notice 2025-67, which covers all retirement-plan cost-of-living adjustments for the coming year. For millions of older Americans trying to close a retirement…
Homeowners who bought during the pandemic-era price surge and sell now could walk away with six-figure gains and owe nothing in federal capital gains tax. Under 26 U.S. Code Section 121, married couples filing jointly can exclude up to $500,000 of profit from the sale of a principal residence, while single filers can exclude up…
Importers who paid tariffs later struck down by courts are still waiting on the vast majority of the money owed to them. Of roughly $166 billion in disputed duties, U.S. Customs and Border Protection has directed the Treasury to return just $20.6 billion so far. The agency has accepted $85 billion in refund applications for…