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Bank Resolution Planning: Evaluating The FDIC’s New Direction
MoneyBanking & InsuranceBank Resolution Planning: Evaluating The FDIC’s New DirectionByMayra Rodriguez Valladares,Senior Contributor.Follow AuthorJun 09, 2026, 01:50pm EDTRethinking Resolution Readiness: Learning from Experience and Sharpening FocusgettyIn recent speeches and policy statements, Federal Deposit Insurance Corporation Chairman Travis Hill has outlined a significant shift in how the agency approaches resolution planning for large banks. The initiative, he describes as a move toward...
Magna CEO Has Requests For Automakers, Investors In Quick Pivot Market
InnovationTransportationMagna CEO Has Requests For Automakers, Investors In Quick Pivot MarketByEd Garsten,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Ed Garsten is a metro Detroit-based reporter who covers autos/mobilityFollow AuthorJun 09, 2026, 01:41pm EDTJun 09, 2026, 01:44pm EDTMagna International CEO Swami Kotagiri makes a presentation to the Automotive Press Association at the company's U.S. headquarters in Troy, Michigan, June 9, 2026.Magna In...
Quantinuum’s British Founder Becomes Billionaire After $15 Billion IPO
BETAThis is a BETA experience. opt-out hereInnovationQuantinuum’s British Founder Becomes Billionaire After $15 Billion IPOThe U.S.-U.K-based startup raised $1.68 billion in its Nasdaq debut, valuing cofounder Illyas Khan’s stake at $2.2 billion.ByIain Martin,Forbes Staff. I'm a senior editor at Forbes and cover tech and venture capital.Follow AuthorJun 09, 2026, 01:26pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.
Social Security’s retirement trust fund faces funding shortfall earlier than expected
Social Security’s retirement trust fund is projected to face a funding shortfall in 2032, a year earlier than previously expected
PM Shehbaz directs acceleration of DISCOs privatisation
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed that the privatisation of power distribution companies (DISCOs) be “accelerated”, reiterating that offloading loss-making state-owned enterprises (SOEs) was a priority for the government. In a handout, the Prime Minister’s Office (PMO) said PM Shehbaz had presided over a high-level review meeting in Islamabad earlier in the day. “The prime minister instructed officials to ensure complete...
Oil slides as US official says Hormuz transits are ‘meaningfully’ climbing
Energy secretary Chris Wright cautions that flows through the strait will take months to fully recover
Social Security Benefits Could Be Cut in 6 Years Unless Congress Acts
The trust fund for the program, which supports roughly 68 million Americans, is on schedule to be depleted in the next six years. Benefits could be cut on average by 22 percent.
Social Security funds could run short by 2032, program's Trustees warn
A trust fund that helps to finance Social Security benefits is expected to run out of money in less than seven years — unless Congress acts to patch the system before that.(Image credit: Kevin Dietsch)
A bidding war is underway for the world's oldest bank
World Bidding war underway for world's oldest bank, Italy's Banca Monte dei Paschi di Siena By Anna Matranga June 9, 2026 / 12:37 PM EDT / CBS News Add CBS News on Google Rome — A bidding war is underway for the world's oldest bank, Italy's Banca Monte dei Paschi di Siena (MPS).Founded in 1472 by the Republic of Siena to provide credit to poorer citizens, the Tuscan lender has evolved over more than five centuries into one of Italy's largest banking institutions and a cornerstone of the country'...
Nasdaq sinks 3% as tech sell-off reignites
Heavy losses for AI-linked stocks overshadow gains across rest of market
Director of 'cash giveaway' program tailored to new mothers grilled on how taxpayer funding is used in debate
Michigan House Republicans are demanding a rigorous inspection of a taxpayer-funded cash assistance program for new mothers, aggressively questioning its benefits and sounding the alarm over how millions of dollars are being spent.The scrutiny boiled over during a June 2 House Oversight Committee hearing, where GOP lawmakers targeted "Rx Kids"— an initiative billed as the nation's largest city-wide cash aid program for prenatal and infant care."I think there was a belief that there was this smal...
3 Social Security wage garnishment rules retirees should know now
MoneyWatch: Managing Your Money 3 Social Security wage garnishment rules retirees should know now We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she wri...
Viral beauty chain confirms four new UK store openings including first-ever shops in Scotland
Beauty giant Sephora has confirmed plans to open four new UK stores this summer, including its first-ever locations in Scotland.The popular retailer will launch new shops in Edinburgh, Glasgow and London as part of its continued expansion across Britain.Edinburgh’s St James Quarter will welcome Scotland’s first Sephora store on July 9, while Glasgow’s Silverburn shopping centre will open its branch on August 13.The Scottish launches will give shoppers access to a range of Sephora UK exclusives a...
UK’s top retailers urge government to do more for jobless young people
Bosses of M&S, Sainsbury’s and Tesco among those writing to Starmer calling for action on youth unemployment crisisWe would like to hear from young people in the UK about their job-hunting experiencesSome of the UK’s biggest retailers are planning to write to the prime minister urging him to tackle the youth unemployment crisis, with signatories expected to include the bosses of Marks & Spencer, Sainsbury’s and Tesco.Lobby group the British Retail Consortium said it had drafted a letter to Keir...
Social Security's insolvency date is projected for end of 2032
MoneyWatch Social Security insolvency now projected for 2032, putting benefits at risk of a 22% cut .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Rep...
How One Family Preserved Wealth For 150 Years, While Another Lost Nearly Everything
BusinessHow One Family Preserved Wealth For 150 Years, While Another Lost Nearly EverythingByMichael Gold CFP, MBA, CEPA,Forbes Books Author.for Forbes BooksAUTHOR POSTExpertise and opinions of authors published by ForbesBooks. Imprint operated under license. | Paid ProgramJun 09, 2026, 11:44am EDTSuccessful dynastic families reinforce identity through storytelling, shared experiences, philanthropy, mentorship, and intergenerational participation. gettyAt one point, the Vanderbilt family possess...
Century-old British manufacturer collapses into administration with 170 jobs lost amid soaring costs
A century-old British manufacturer has collapsed into administration, leaving 170 workers without jobs after mounting losses and soaring costs pushed the business to the brink. Gateshead-based ceiling manufacturer Zentia appointed administrators from Interpath on Monday after efforts to secure a future for the company failed.The North East business, which first began operations in 1925, had celebrated its centenary last year after building a long-standing reputation supplying ceiling systems to...
Prediction Markets Are Becoming Retail Trading’s Next Dangerous Game
BusinessPrediction Markets Are Becoming Retail Trading’s Next Dangerous GameByDaniel Schlaepfer,Forbes Books Author.for Forbes BooksAUTHOR POSTExpertise and opinions of authors published by ForbesBooks. Imprint operated under license. | Paid ProgramJun 09, 2026, 11:29am EDTAs prediction markets gain popularity, young traders need to beware of the risks—and their sophisticated competition.gettySomething is happening in American finance that deserves far more attention than it is getting.Two indus...
Palantir to sue Sadiq Khan over blocked £50m Met police contract
US spy-tech company to challenge London mayor’s intervention after he raised concerns over breach of procurement rulesPalantir intends to sue the London mayor, Sadiq Khan, after he blocked a contract between the US spy-tech firm and the Metropolitan police.The Met had planned to use Palantir’s software to automate intelligence analysis in criminal investigations, until Khan intervened in late May, sparking a row between the UK’s largest police force and the mayor’s office. Continue reading...
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