The financial news that actually matters
Owners of certain Mercedes-Benz diesel vehicles built between 2008 and 2016 were eligible for a $2,000 cash payment as part of a multistate legal settlement accusing Mercedes and its parent company, Daimler AG, of rigging emissions controls on what the EPA has estimated to be roughly 250,000 diesel cars and SUVs sold in the United…
The sales pitch was simple: bring in artificial intelligence, streamline operations, do more with fewer people. A growing body of research now suggests the “fewer people” part happened on schedule while the “do more” part has not. Two working papers from the National Bureau of Economic Research, drawing on U.S. Census Bureau survey data and…
Flagstar Bank customers who had their Social Security numbers stolen in a December 2021 cyberattack now have until August 11 to file claims against a $31.5 million settlement fund. The deal resolves Forman v. Flagstar Bancorp, Inc., No. 2:22-cv-10167, in the U.S. District Court for the Eastern District of Michigan, and covers an estimated 2.19…
When Cerebras Systems priced its IPO at $185 a share on the evening of May 13, 2026, the company’s co-founders, CEO Andrew Feldman and chief hardware architect Gary Lauterbach, had spent nearly a decade arguing that the future of AI computing required a chip the size of a dinner plate. On May 14, Wall Street…
The last time many Americans fired up the grill for Memorial Day, a pound of boneless sirloin steak cost roughly $10. This year, that same cut averages $12.74 a pound at U.S. grocery stores, the highest price the Bureau of Labor Statistics has ever recorded. Ground beef sits at $6.70 a pound, also an all-time…
The S&P 500 just hit another record high at 7,399 — while gas costs $4.55, mortgage rates are 6.37%, and 1.55 million workers dropped out of the labor force The S&P 500 closed at 7,398.93 on May 8, 2026, a fresh all-time high. That same morning, the Bureau of Labor Statistics published its April jobs…
PayPal cleared Wall Street’s bar for the first quarter of 2026 and got punished for it anyway. According to figures the company reported in early May 2026, PayPal posted $8.353 billion in net revenue and diluted earnings of $1.21 per share for the three months ended March 31, both ahead of analyst consensus estimates. GAAP…
Shopify just delivered record revenue, record gross merchandise volume, and a gross margin that most software companies would frame and hang on the wall. The stock dropped 7%. The Canadian e-commerce company reported first-quarter 2026 revenue of $3.17 billion, up 34% from $2.36 billion a year earlier, according to a Form 8-K filed with the…
At 3 a.m. Eastern on Monday, June 23, 2025, Spirit Airlines canceled every remaining flight on its schedule, shut down its operations, and told passengers not to come to the airport. The airline that built its identity on $9 base fares and a bright yellow fleet was finished. More than 100 aircraft sat grounded. Roughly…
Alphabet added tens of billions of dollars in market value in a single session on April 29, 2026, after first-quarter earnings revealed something Wall Street had been waiting months to see: hard proof that corporate customers are spending real money on artificial intelligence, not just talking about it. Google Cloud revenue jumped 63% from the…