The financial news that actually matters
A household with $500,000 in savings can keep every dollar federally insured without complex trust structures or joint-account workarounds. The mechanism is straightforward: the FDIC calculates coverage per depositor at each separately chartered bank, so splitting a balance evenly across two institutions doubles the protection from $250,000 to $500,000. That per-bank rule, grounded in federal…
Ubisoft cut more than 380 jobs and shut down studios in Winnipeg and Belgrade this month while restructuring its Barcelona office, shrinking a global workforce that stood at 16,590 as recently as March 2026. The closures hit weeks after the publisher released full-year earnings, raising questions about which remaining teams will absorb the canceled studios’…
I Squared Logistics, a delivery contractor operating out of Garner, North Carolina, shut down its facility and eliminated 160 jobs with almost no warning to the drivers and support staff who depended on the work. The closure, tied to the end of the company’s contract with Amazon, left workers scrambling in a region where similar…
Smoky Mountain Logistics, LLC, a Tennessee-based trucking carrier, will shut down and lay off 145 workers effective Feb. 28, 2026. The closure was disclosed through a formal WARN notice filed with the state, placing more than a hundred drivers and support staff in the position of finding new work during a period of persistent pressure…
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…
Every deposit account opened at an FDIC-insured bank in the United States receives federal deposit insurance the moment the account is funded. Customers do not need to apply, enroll, or pay a fee. The protection is backed by the full faith and credit of the U.S. government, and the cost falls entirely on the banks…
On May 1, 2026, Georgia state regulators shut down Community Bank and Trust, a small lender based in LaGrange, Georgia, and handed control to the FDIC as receiver. Within hours, another institution stepped in to take over insured deposits, and every customer kept full access to their money. The FDIC estimates the failure will drain…
Every depositor at Metropolitan Capital Bank & Trust in Chicago kept full access to their money after the bank was shut down on January 30, 2026, with all $212.1 million in deposits transferred to First Independence Bank of Detroit. The resolution turned a potential crisis for account holders into a seamless transition, but it also…
About 2,000 truck drivers who haul mail for the United States Postal Service are losing their jobs as 10 Roads Express LLC, a contractor that has operated for 47 years, shuts down. A WARN notice filed in Virginia sets the impact date at January 30, 2026, and lists 70 workers in Harrisonburg who will be…
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