The financial news that actually matters
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…
Wendy’s plans to shut down between 298 and 358 U.S. restaurants in the first half of 2026, a cut of roughly 5% to 6% of its domestic system, after same-store sales fell across the chain. The company already closed 28 locations in the fourth quarter of 2025, leaving 5,969 U.S. units at year-end. The wave…
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…
Federal prosecutors in the Middle District of Florida have charged Christopher Alexander Delgado, 34, of Apopka, Florida, with wire fraud and money laundering for allegedly running a Ponzi scheme through his firm Goliath Ventures, formerly known as Gen-Z Venture Firm. The government says Delgado obtained at least $328 million from investors between January 2023 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…
Oracle eliminated roughly 30,000 positions in the first half of calendar 2026, cutting nearly one-fifth of its workforce and carrying out the single largest layoff disclosed by any company this year. The reductions, tied to a formal restructuring plan the company began disclosing in late 2025, center on employee severance as Oracle shifts capital toward…
Every American taxpayer now has a fixed answer to a question that has loomed since the 2017 Tax Cuts and Jobs Act: the seven individual income tax rates, spanning 10% to 37%, will not snap back to their pre-2018 levels. Congress locked them in permanently through the One Big Beautiful Bill Act, designated H.R. 1,…
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