The financial news that actually matters
Workers turning 60, 61, 62, or 63 during 2026 can now set aside up to $11,250 in additional catch-up contributions to a 401(k), 403(b), or similar workplace retirement plan. The figure comes from a 150 percent formula spelled out in SECURE 2.0 Section 109, and the IRS has confirmed it through final regulations and recent…
The cyclically adjusted price-to-earnings ratio, a valuation measure with roots in a 1988 academic paper by John Y. Campbell and Robert J. Shiller, has climbed near 40. That level has been reached only once before, at the peak of the dot-com bubble in 2000. For investors holding U.S. equities, the reading raises a direct question:…
Roughly 1,200 workers at an Ohio auto-parts manufacturer face layoffs after federal prosecutors unsealed an indictment charging First Brands Group executives Patrick James and his brother Edward James with orchestrating a multibillion-dollar fraud. The criminal case and a nearly simultaneous Chapter 11 bankruptcy filing have thrown the company’s future into doubt, raising sharp questions about…
Anyone with more than $250,000 in a single bank account faces a straightforward risk: the amount above that line is not federally insured. The Federal Deposit Insurance Corporation protects deposits up to $250,000 per depositor, per insured bank, per ownership category, and that protection is calculated dollar-for-dollar, including principal plus accrued interest through the date…
UPS plans to eliminate up to 30,000 operational jobs this year and shut down 24 buildings during the first half of 2026, extending a restructuring campaign that already shrank the company’s U.S. workforce by roughly 34,000 positions and closed 85 facilities permanently during the first nine months of 2025. CFO Brian Dykes disclosed the new…
Taxpayers seeking penalty relief for both 2020 and 2021 face a paper-filing requirement that doubles their administrative burden: the IRS demands a separate Form 843 for each tax year, meaning two distinct claims must be prepared, signed, and mailed rather than one. The rule, spelled out in the December 2024 revision of the form’s instructions,…
JPMorgan Chase CEO Jamie Dimon has compared the current mood across financial markets to the euphoria that preceded some of the worst crashes in modern history, specifically citing the periods before the 2000 dot-com bust and the 2007 credit crisis. In a Bloomberg interview earlier this year, Dimon said rivals are repeating reckless behavior and…
Scammers posing as distressed grandchildren or threatening government agents stole billions of dollars from Americans last year, and three federal agencies agree on one blunt rule: no legitimate person or institution will ever demand payment by gift card or wire transfer. Reported losses to fraud hit $12.5 billion in 2024, and gift cards remain one…
Block, Inc. cut more than 4,000 jobs earlier this year, shrinking its workforce from over 10,000 to just under 6,000, and told shareholders the reductions were tied to artificial intelligence tools that allow smaller, flatter teams. The fintech company is not alone. Coinbase Global filed its own restructuring plan on the same theme, and the…
American consumers and businesses face a painful squeeze: prices for shelter, food, and energy remain elevated even as the broader economy loses momentum. Ray Dalio has described the current environment as “a stagflation economy, with prices high and growth slowing at once,” a diagnosis now backed by a cluster of federal data releases covering the…