Money, Wealth & Power—A Daily Look at the Financial World
A major furniture retailer’s Chapter 11 bankruptcy has set off a rush by shoppers to spend gift cards before they risk becoming worthless. In Pennsylvania, the attorney general is urging anyone holding Value City or American Signature Furniture cards to redeem them quickly, warning that a firm redemption cutoff is already in place. The scramble…
Amazon is cutting thousands of corporate jobs, with human resources among the hardest-hit departments, as the company redirects spending toward artificial intelligence and tries to flatten its management structure. The layoffs, which began in late 2025 and accelerated in January 2026, have already triggered billions of dollars in severance costs and formal job-loss notices across…
Major U.S. employers across logistics, finance, retail, and manufacturing are shedding thousands of jobs in 2026, with official state filings and federal documents revealing the scale of cuts that are already underway or scheduled for the coming months. UPS alone plans to eliminate up to 30,000 positions this year, while companies like Wells Fargo, Lowe’s,…
JPMorgan Chase Chief Executive Officer Jamie Dimon warned that he is seeing echoes of the period before the 2008 financial crisis, pointing to what he described as aggressive risk-taking by rival banks in the fast-growing private credit market. His comments arrive as major financial institutions expand lending outside traditional banking channels, and as the International…
Several major U.S. retail chains have published work-from-home information and/or remote job listings, giving job seekers a direct path to remote employment backed by established brands. Nordstrom and Walgreens lead the verified list, with first-party career-page documentation of remote customer care work, while at least five other retailers have a track record of remote hiring…
Adam Posen, president of the Peterson Institute for International Economics, is warning that U.S. inflation could hit 4% by the end of 2026, a level that would double the Federal Reserve’s target and reverse much of the progress made since the post-pandemic price surge. His argument rests on a collision of forces: tariffs that have…
Illinois Gov. JB Pritzker demanded an $8.7 billion tariff refund from the White House, turning a simmering legal dispute into a direct financial confrontation with the federal government. The demand targets duties collected under the International Emergency Economic Powers Act, or IEEPA, which a coalition of state attorneys general has challenged as unlawful. With private…
Kroger Co. has started winding down operations at roughly 60 underperforming U.S. stores over an 18‑month timeline, a direct consequence of the failed merger with Albertsons Companies that two separate courts blocked late last year. The closures, disclosed in the grocer’s most recent earnings report and tied to a broader profitability push, represent Kroger’s sharpest…
Costco is testing a new limited-time food court item that has shoppers drawing direct comparisons to one of McDonald’s most iconic seasonal offerings, the Shamrock Shake. The timing is no accident: the warehouse giant’s latest play arrives just as McDonald’s brings back its own green-tinted shake for 2026, complete with a charitable tie-in. With both…
Target Corporation eliminated 500 corporate and field positions on February 9, 2026, just eight days after a CEO transition that capped months of boycott pressure and sliding sales. The cuts, split between district management and supply chain operations, arrived as new chief executive Michael Fiddelke began reshaping the retailer’s leadership structure. Together, the layoffs, the…
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