Money, Wealth & Power—A Daily Look at the Financial World
Canada’s first-ever Grocery Code of Conduct took effect on January 1, 2026, after more than three years of industry-led development and consultations. The code aims to bring fairness to dealings between major supermarket chains and their suppliers, but it arrives at a moment when households across North America are bracing for food prices that could…
Ferrara Candy Company, the parent of the Jelly Belly brand, is shutting down corporate operations at its Fairfield, California, headquarters and permanently eliminating 69 jobs, according to a WARN notice and local reporting. The cuts target white-collar roles at the Fairfield campus while manufacturing continues on-site. 69 Corporate Jobs Gone From Fairfield The layoffs were…
Billionaire supermarket mogul John Catsimatidis, CEO of Red Apple Group and the Gristedes grocery chain, called New York City’s budget “unsustainable” during a recent appearance on Fox Business’ “Varney & Co.,” drawing a sharp contrast with Florida’s fiscal approach. His critique lands as NYC confronts a projected $2.2 billion shortfall in Fiscal Year 2026 and…
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…
The Giant Company is expected to take over two grocery locations in rural Pennsylvania after the stores’ current operators filed closure notices tied to a sale-of-business transaction, a move that will eliminate a combined 122 jobs across two small towns by late April 2026. Everett Foodliner, Inc. and Saxton Market, Inc. both submitted Worker Adjustment…
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…
After passage of the One Big Beautiful Bill Act, the White House is expected to use the upcoming State of the Union address to build momentum for another round of tax relief through the same reconciliation process that carried the first package. The strategy depends on a budget resolution already in place and a Senate…
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,…
Spirit Airlines is dismantling a significant portion of its flight network and fleet as it fights to survive Chapter 11 bankruptcy, cutting service to cities, furloughing workers, and selling aircraft in a bid to slash billions in debt and lease obligations. The ultra-low-cost carrier filed for protection in the U.S. Bankruptcy Court for the Southern…
Nassim Nicholas Taleb, the risk analyst and author best known for his “Black Swan” theory of unpredictable market events, told investors on February 23, 2026, to prepare for bankruptcies across parts of the software sector and a sharp increase in volatility. The warning, delivered at a Universa Investments event in Miami, comes as software shares…