The financial news that actually matters
Morgan Stanley chief U.S. equity strategist Mike Wilson is telling clients to treat the latest stock-market slide as a buying opportunity, even while acknowledging that equity valuations have not meaningfully compressed. The call carries weight because Wilson has built a track record of shifting between bearish and bullish stances at high-profile moments. Earlier, he projected…
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…
Nearly 150 workers at Ubisoft offices in San Francisco and Barcelona learned this month that their positions are being eliminated, according to state labor filings and local reporting. The French video game publisher filed formal notices on both sides of the Atlantic within days of each other, cutting 93 permanent jobs in California and launching…
Bank customers who overdraw their checking accounts could soon face fees as high as $35 again after Congress used the Congressional Review Act to kill a Consumer Financial Protection Bureau rule that would have capped most overdraft charges at $5. The resolution, S.J.Res. 18, cleared both chambers and became Public Law 119-10 after presidential signature,…
James Wellesley, a British national who operated under at least two aliases, was sentenced to 10 years in federal prison for running a wine investment fraud that collected over $97 million from more than 140 victims worldwide. Wellesley and a co-defendant posed as executives of a company called Bordeaux Cellars, pitched fictitious wine-collateralized loans at…
Eddie Bauer LLC, the outdoor retailer once synonymous with rugged American sportswear, entered Chapter 11 bankruptcy in New Jersey federal court while carrying more than $1 billion in debt. The company had tried and failed to find a buyer before the filing, leaving its stores, employees, and brand future in the hands of a court-supervised…
Retail investors who sell a losing stock and buy it back within 30 days lose the right to claim that loss on their federal tax return. The rule, codified in Title 26 of the U.S. Code, creates a 61-day restricted window around every loss sale. With the 2026 filing season now open, any trader who…
A federal grand jury in Chicago indicted investment adviser John Sterling Myers on wire fraud charges for allegedly running a Ponzi scheme that raised approximately $4 million from roughly 28 investors. Prosecutors say Myers and his firms, Sterling Capital, LLC and Sterling Capital Management, LLC, funneled new client money to repay earlier participants while misappropriating…
Retirement Shield
Free retirement updates
Social Security and Medicare change every year, and nobody sends you a memo. The free Retirement Shield newsletter breaks down what changed and what to do.