Block CEO Jack Dorsey’s move to cut nearly half the company’s workforce is shining a spotlight on a growing question for corporate America: whether advances in artificial intelligence will ultimately mean fewer workers. In an earnings call Thursday, Dorsey said Block will cut about 4,000 jobs. Dorsey framed the move as more than a cost-cutting…
Andreypopov | Istock | Getty Images The average tax refund is 10.2% higher so far this season, compared to about the same period in 2025, according to the latest IRS filing data. The year-over-year percentage change is down from the 14.2% increase reported last week. As of Feb. 20, the average refund amount for individual filers was…
Momo Productions | Digitalvision | Getty Images The earned income tax credit, or EITC, is a tax break for low- to moderate-income workers, which increases based on family size. It’s a fully refundable credit, which means certain filers can receive the full amount, even with zero taxes owed. For tax year 2025, the maximum credit…
Marco Bello | AFP | Getty Images Fintech company Block announced Thursday it was laying off about half its workforce, adding more than 4,000 workers to the unemployment ranks overnight. When a significant share of a company’s workers face a sudden job loss, that can trigger a number of unique financial and career challenges, experts say….
Customers shops for fruit in a supermarket in New York on Jan. 22, 2026. Charly Triballeau | AFP | Getty Images Wholesale prices rose at a faster-than-expected pace in January, countering hopes that inflation was easing, the Bureau of Labor Statistics reported Friday. The core producer price index, which excludes volatile food and energy prices,…
U.S. President Donald J. Trump delivers the first State of the Union address of his second term to a joint session of Congress in the House Chamber of the United States Capitol in Washington, D.C., U.S.,on Tuesday, Feb. 24, 2026. Kenny Holston | The New York Times | Via Reuters Amid tariff uncertainty, President Donald Trump…
Leon Cooperman. Scott Mlyn | CNBC A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Private investment firms of the ultra-wealthy capped off 2025 with equity bets ranging from airline stocks to…
FanDuel parent Flutter Entertainment announced fourth-quarter earnings Thursday that missed Wall Street expectations on nearly every metric. FanDuel’s performance in the final quarter of 2025 was affected by bettors losing more often than usual. When that happens, gamblers get discouraged, bet less and stop using the app as frequently, Flutter CEO Peter Jackson told CNBC…
Netflix CEO Ted Sarandos arrives at the White House on Feb. 26, 2026 in Washington, DC. Andrew Leyden | Getty Images Netflix is walking away from a deal to buy Warner Bros. Discovery’s studio and streaming assets after the WBD board on Thursday deemed a revised bid by Paramount Skydance to be superior. Earlier this…
Some student loan borrowers can soon expect a check in the mail, more than a year after the Consumer Financial Protection Bureau reached a $120 million settlement with former federal servicer Navient. The CFPB said Navient steered student loan borrowers away from affordable repayment plans and into expensive forbearances, causing many to pay steep interest…