In the runup to its big Mardi Gras celebration on Fat Tuesday, New Orleans is preparing for parades and crowds — and painful budget cuts. Behind the brass bands and bead throws, the city is confronting one of the worst financial crises in its modern history after years of spending propped up by temporary federal pandemic aid. With revenue lagging and costs locked in, officials say the resulting bu...
In the runup to its big Mardi Gras celebration on Fat Tuesday, New Orleans is preparing for parades and crowds — and painful budget cuts. Behind the brass bands and bead throws, the city is confronting one of the worst financial crises in its modern history after years of spending propped up by temporary federal pandemic aid. With revenue lagging and costs locked in, officials say the resulting budget hole will take years to close. Mayor Helena Moreno, who took office in January, inherited a deficit estimated at $222 million in a roughly $1.6 billion operating budget, according to city officials. Late last year, the city had to borrow $125 million from Wall Street simply to make payroll, covering routine expenses and retention bonuses for police promised by the prior administration — a move that triggered downgrades from all three major credit-rating companies. And starting with the Feb. 15 payroll, many city workers will have to take the equivalent of 22 unpaid furlough days through the end of the year. With stopgap options running out, city leaders say they are now shifting from short-term cuts to structural fixes, including proposed charter changes and potentially new tourism taxes — steps that could permanently alter how New Orleans governs itself. “We are going to fix this problem, fix the way spending happens in the city of New Orleans so that we never have an administration in the future ever spend us into a hole like this,” said JP Morrell, president of the city council. The crisis is unfolding against a sharp political divide . New Orleans is a Democratic stronghold in a Republican state, heightening fears at city hall that a state takeover of city finances could threaten priorities important to its voters. That concern has added urgency to efforts to stabilize the city’s books before the state steps in. Officials trace the crisis to how New Orleans used federal pandemic aid under the American Rescue Plan Act. The city received nearly $388 million, about $1...
Lechatnoir | E+ | Getty Images Employers don't appear eager to mix their 401(k) plans with emergency savings options for workers, new research suggests. Although companies have been permitted since 2024 to allow $1,000 emergency withdrawals from retirement savings and to offer 401(k)-linked emergency savings accounts, there's been little adoption, according to a Vanguard report released this week....
Lechatnoir | E+ | Getty Images Employers don't appear eager to mix their 401(k) plans with emergency savings options for workers, new research suggests. Although companies have been permitted since 2024 to allow $1,000 emergency withdrawals from retirement savings and to offer 401(k)-linked emergency savings accounts, there's been little adoption, according to a Vanguard report released this week. Just 4% allow the $1,000 emergency 401(k) withdrawals, according to Vanguard's analysis of 1,300 plans. And the 401(k)-linked emergency savings accounts "have generated minimal to no interest" from employers, the report notes. Read more CNBC personal finance coverage Home sellers start getting lower prices at 70, research shows — here's why Average IRS tax refund is up 10.9% so far this season, early filing data shows Early estimates point to lower Social Security COLA for 2027 Senators call for longer Social Security Fairness Act lump-sum payment timeline Here's the inflation breakdown for January 2026 — in one chart Average tax refund is up 22%, Bessent says — what filers can expect this season K-shaped economy looks like 'jaws of a crocodile,' economist says: Here's why How EPA 'endangerment finding' repeal could impact your wallet Medical emergencies can lead to debt and bankruptcy — even for insured Americans Bigger tax refunds may be coming — but missing key forms could risk an audit How Social Security Fairness Act payments may affect beneficiaries' taxes Credit card debt tops $1.28 trillion, consistent with 'K-shaped' economy: NY Fed How affordability led to a chasm between stock prices, consumer optimism Student loan complaints at record high, CFPB finds, but agency omits details Following Super Bowl ad, Trump accounts launch a new sign-up option Some student loan borrowers wait over a year for public servant debt forgiveness CNBC's Financial Advisor 100: Best financial advisors, top firms ranked Those two in-plan options were authorized under the 2022 retirement ...
Larry the cat is marking 15 years as the UK’s chief mouse catcher at the prime minister’s residence at 10 Downing Street, having served six prime ministers there. During his tenure, the 19-year-old tabby, officially known as the chief mouser to the Cabinet Office, has captured the hearts of the British public because of his frequent appearances outside the prime minister’s front door in central Lo...
Larry the cat is marking 15 years as the UK’s chief mouse catcher at the prime minister’s residence at 10 Downing Street, having served six prime ministers there. During his tenure, the 19-year-old tabby, officially known as the chief mouser to the Cabinet Office, has captured the hearts of the British public because of his frequent appearances outside the prime minister’s front door in central London. Larry was adopted from Battersea Dogs and Cats Home in February 2011, and was originally...
Ilia Malinin's painful falls at the Milan Cortina Games follow in a long tradition of great U.S. athletes who get the "yips" or the "twisties" during the Olympics. (Image credit: Francisco Seco)
Ilia Malinin's painful falls at the Milan Cortina Games follow in a long tradition of great U.S. athletes who get the "yips" or the "twisties" during the Olympics. (Image credit: Francisco Seco)
Though President Donald Trump's tariff and trade policy may garner the headlines, something more fundamental is at risk of derailing this high-flying stock market.
Though President Donald Trump's tariff and trade policy may garner the headlines, something more fundamental is at risk of derailing this high-flying stock market.
Key PointsDespite double-digit gains for the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite in 2025, headwinds are mounting for the stock market.
Key PointsDespite double-digit gains for the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite in 2025, headwinds are mounting for the stock market.
U.S. Alpine skier Mikaela Shiffrin looks unstoppable everywhere except the Olympics. She's running out of chances to medal at the Milan Cortina Games. (Image credit: Marco Trovati)
U.S. Alpine skier Mikaela Shiffrin looks unstoppable everywhere except the Olympics. She's running out of chances to medal at the Milan Cortina Games. (Image credit: Marco Trovati)
Western Digital (NASDAQ:WDC) moved sideways this week, dipping 0.35% to close at $281.58 on February 13. But zoom out, and the picture changes dramatically. The stock is up 31% over the past month and 63% year-to-date, riding a wave of AI storage demand that’s reshaping the data center landscape. While the broader semiconductor sector, tracked ... Western Digital’s Week in Review: Shares Now Up 63...
Western Digital (NASDAQ:WDC) moved sideways this week, dipping 0.35% to close at $281.58 on February 13. But zoom out, and the picture changes dramatically. The stock is up 31% over the past month and 63% year-to-date, riding a wave of AI storage demand that’s reshaping the data center landscape. While the broader semiconductor sector, tracked ... Western Digital’s Week in Review: Shares Now Up 63% in 2026
Oselote/iStock via Getty Images S&P Global Energy discusses consensus price forecasts for industrial and precious metals, including platinum group metals, amid broader market trends. The Take Gold, silver, platinum and copper prices reached new historic peaks in January, while most other industrial metals prices hit multiyear highs. Investors' flight to safety amid a fraught geopolitical and macro...
Oselote/iStock via Getty Images S&P Global Energy discusses consensus price forecasts for industrial and precious metals, including platinum group metals, amid broader market trends. The Take Gold, silver, platinum and copper prices reached new historic peaks in January, while most other industrial metals prices hit multiyear highs. Investors' flight to safety amid a fraught geopolitical and macroeconomic landscape - in conjunction with concerns over supply shortages - sustained upside momentum across metals markets for much of the month. Consensus price targets across 2026–30 were upgraded almost across the board, with a sharp boost for precious metals but limited gains for the nickel market as it continues to grapple with persistent structural oversupply. The US Federal Reserve left interest rates unchanged at 3.50%-3.75% on Jan. 28, citing "solid" economic growth. While the Fed did not signal future policy adjustments, market participants anticipate one to two rate cuts in 2026. The latest Fed rate decision unfolded amid perceived challenges to its independence, following the Justice Department's criminal investigation into Fed Chair Jerome Powell. Powell's term ends in May, with former Fed governor Kevin Warsh nominated to be his successor, pending Senate confirmation. Concerns over the Fed's autonomy weighed on the US dollar, though steady interest rates and Warsh's nomination contained the downside. Manufacturing remained subdued in the eurozone in January but improved across the US and Asia as production and demand firmed. Meanwhile, China's property and construction downturn continues, with sharper year‑over‑year declines in real estate investment and floor space under construction in December 2025. As China sets in motion its 15th Five‑Year Plan, new stimulus measures may bolster domestic demand, driving support for industrial metals prices. The London Bullion Market Association gold price extended its spectacular rally into 2026, setting 12 fresh records i...
Jeff Greenberg | Universal Images Group | Getty Images At some point in the 1980s and 90s, the free hot breakfast became a staple of the hospitality industry. At many a Holiday Inn or Hampton Inn, the lobby at 8 a.m. is a pinwheel of pajama-clad kids, frazzled parents, and solo business travelers jockeying for position in front of the waffle maker. Meanwhile, self-serve cereal bars dispense Froot ...
Jeff Greenberg | Universal Images Group | Getty Images At some point in the 1980s and 90s, the free hot breakfast became a staple of the hospitality industry. At many a Holiday Inn or Hampton Inn, the lobby at 8 a.m. is a pinwheel of pajama-clad kids, frazzled parents, and solo business travelers jockeying for position in front of the waffle maker. Meanwhile, self-serve cereal bars dispense Froot Loops and Lucky Charms, and hot platters of endless eggs and turkey sausage steam under heat lamps. For many, this breakfast spread is part of the appeal of travel. It endures to this day, but it is facing new economic threats and evolving hotel business models. At hotels, which have been ditching items like free soaps and even bathroom doors to economize, the free breakfast is a sacred cow that some worry will not survive, increasingly seen by hotel operators as an money pit eating into the thin margins of the business. Last year, Hyatt Hotels ' Hyatt Place brand removed free breakfast from 40 of its properties. Holiday Inn, owned by IHG , eliminated a la carte breakfast items in favor of a buffet-only model — a cost-cutting measure that preserves the breakfast buffet offering while reducing labor and food waste. Gary Leff, who runs the travel blog View from the Wing and first reported on Holiday Inn's breakfast changes, said that the threat to the free breakfast should be viewed within the broader trend in the lodging industry to look for ways to cut costs for owners. "That goes far beyond breakfasts, to things like housekeeping — less often during a stay, less extensive when it's done during a stay — to bulk toiletries rather than individual mini-bottles to eliminating products like alarm clocks in rooms," Leff said. Despite the free breakfast's staying power, the math never added up for the business, according to Curtis Crimmins, the CEO and founder of boutique hotel concept Roomza. "It was a loyalty play — a loss leader meant to drive signups, repeat bookings, and exte...
Berlinale head says artists should not be pushed into soundbites after Arundhati Roy quit over president Wim Wenders’ apolitical comments The Berlin film festival has issued a lengthy statement “in defence of our film-makers, and especially our jury and jury president”, after what it described as a “media storm that has swept over the Berlinale” in its first few days. The defence follows criticism...
Berlinale head says artists should not be pushed into soundbites after Arundhati Roy quit over president Wim Wenders’ apolitical comments The Berlin film festival has issued a lengthy statement “in defence of our film-makers, and especially our jury and jury president”, after what it described as a “media storm that has swept over the Berlinale” in its first few days. The defence follows criticism levelled at the jury, in particular president, Wim Wenders, for comments made when fielding questions about the war in Gaza. Asked during the opening press conference if films can affect political change, the German film-maker said that “movies can change the world” but “not in a political way”, adding that film-makers “have to stay out of politics”. Continue reading...
PERTH, Australia, Feb. 15, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (”Alkane” eller ”bolaget”) (ASX: ALK, OTC: ALKRY, TSX: ALK) meddelar sina finansiella resultat för de sex månader som avslutades den 31 december 2025 (”halvåret” eller ”halva 2026”).
PERTH, Australia, Feb. 15, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (”Alkane” eller ”bolaget”) (ASX: ALK, OTC: ALKRY, TSX: ALK) meddelar sina finansiella resultat för de sex månader som avslutades den 31 december 2025 (”halvåret” eller ”halva 2026”).
Charlotte Bankes and Huw Nightingale win a thriller First time GB have won two golds at a Winter Games After 102 years at the Winter Olympics, Great Britain has finally won its first gold medal on snow after Charlotte Bankes and Huw Nightingale took a thrilling victory in the mixed team snowboard cross. Few had pinned down Bankes and Nightingale as one of the favourites after poor performances in ...
Charlotte Bankes and Huw Nightingale win a thriller First time GB have won two golds at a Winter Games After 102 years at the Winter Olympics, Great Britain has finally won its first gold medal on snow after Charlotte Bankes and Huw Nightingale took a thrilling victory in the mixed team snowboard cross. Few had pinned down Bankes and Nightingale as one of the favourites after poor performances in the individual events early in the week. Afterwards they had been so disappointed they had drowned their sorrows in the pub. Continue reading...
Fetterman Reveals His Parents Are Trump Supporters, Refuses To Call MAGA Voters 'Nazis' Authored by Steve Watson via modernity.news , Pennsylvania Senator John Fetterman has once again set himself apart from the radical elements in his party by admitting that his own parents support President Trump—and using that as a reason to reject the Democrats’ over-the-top attacks on MAGA voters. In a recent...
Fetterman Reveals His Parents Are Trump Supporters, Refuses To Call MAGA Voters 'Nazis' Authored by Steve Watson via modernity.news , Pennsylvania Senator John Fetterman has once again set himself apart from the radical elements in his party by admitting that his own parents support President Trump—and using that as a reason to reject the Democrats’ over-the-top attacks on MAGA voters. In a recent interview with Politico’s Dasha Burns, Fetterman again explained why he won’t join the chorus labeling Trump supporters as threats to democracy, emphasizing personal connections over partisan hysteria. Burns asked Fetterman directly about Trump’s praise for him as the “most sensible Democrat,” questioning if it’s a “badge of honor or kryptonite for a Democrat in 2026.” Fetterman responded, “My parents would appreciate it.” He continued, “ I know, and I love a lot of people that vote for Trump. And that’s part of why I refuse to call these people Nazis, or they’re brownshirts, or they’re trying to destroy our democracy .” Fetterman made it clear he’s not engaging in that rhetoric, stating, “I’m not defending the president, but I will say he hasn’t defied a single court order yet. He hasn’t. And there was the big freak out that he was going to run in 28.” “And I’m like, no, he’s not going to run. That’s not going to happen. And now, of course he’s not going to run,” the Senator added. When Burns pressed on his relationship with Trump, Fetterman said, “If I have something to say it’s not going to be, you know, in an insult. It’s not going to be extreme things…when you have members of Congress calling him a piece of shit.” “And I think it’s crazy, it’s like you just don’t, you know, I’ll always talk and speak, you know, with respect, because I really want to find a way forward .” This admission underscores Fetterman’s ongoing pushback against his party’s extremes, a stance that has increasingly isolated him from Democratic insiders. As we previously reported , Democrat extremi...
All 5 stocks that I will discuss in today's video have gone through some sort of pullback, and that volatility is expected to continue throughout the foreseeable future as investors rotate. However, some it appears like the sell-off has been overdone and I want these stocks in my
All 5 stocks that I will discuss in today's video have gone through some sort of pullback, and that volatility is expected to continue throughout the foreseeable future as investors rotate. However, some it appears like the sell-off has been overdone and I want these stocks in my
malerapaso/iStock via Getty Images It seems that the risks for the BDC sector ( BIZD ) just keep emerging one after another. In the space of less than 2 years, the sector has been pressured by falling base rates, compressing spreads, stagnant M&A markets, enormous supply of new entrants, and, recently, increased credit risks from Tricolor and First Brands bankruptcies and weakening SaaS businesses...
malerapaso/iStock via Getty Images It seems that the risks for the BDC sector ( BIZD ) just keep emerging one after another. In the space of less than 2 years, the sector has been pressured by falling base rates, compressing spreads, stagnant M&A markets, enormous supply of new entrants, and, recently, increased credit risks from Tricolor and First Brands bankruptcies and weakening SaaS businesses, which play a significant role in BDC portfolios. As a result of these dynamics, the BDC index has dropped by ~23% in the past 12-month period. This is a huge drawdown. On top of this, 12 BDCs have delivered negative news on the dividend front, where even such names as Golub Capital ( GBDC ) and Gladstone Capital ( GLAD ) were forced to make these painful decisions. In the context of the publicly traded BDC space that consists of ~55 players, the fact that 12 BDCs have cut their dividends in the past 12-month period is significant. Moreover, I firmly believe that there will be many more announcing these kinds of news as they report the Q4 and/or Q1, 2026 figures. The logic here is simple: 1) BDC sector average base dividend coverage is 100% (i.e., no margin of safety), 2) balance sheets are fully leveraged across the board, providing no ammunition to grow, and 3) lower base rates and continued spread compression will just keep pushing the NII per share generation down. Now, the fact that BDCs are effectively leveraged vehicles that lend to companies that cannot access cheap bank or public capital market financing, in combination with the aforementioned backdrop, which shows how violent the moves in the BDC sector can be, provides a strong ground for excluding BDCs from retirement income portfolios. In other words, the risks that come with BDC investments are theoretically too high for prudent retirement investors or investors, who cannot afford to play around with the portfolio capital, which is meant for living expense coverage. Personally, as a structural BDC bull, I wou...
Unusually warm weather in Hong Kong has forced flower sellers at Lunar New Year fairs to contend with premature blooms while also navigating a retail landscape where heavy foot traffic masked a tightening of local purse strings. On Sunday, the Observatory recorded a maximum temperature of 26.9 degrees Celsius (80.4 Fahrenheit) at its headquarters in Tsim Sha Tsui, matching the record set in 2010 f...
Unusually warm weather in Hong Kong has forced flower sellers at Lunar New Year fairs to contend with premature blooms while also navigating a retail landscape where heavy foot traffic masked a tightening of local purse strings. On Sunday, the Observatory recorded a maximum temperature of 26.9 degrees Celsius (80.4 Fahrenheit) at its headquarters in Tsim Sha Tsui, matching the record set in 2010 for the same day in the lunar calendar. “Winter has become like summer, which is not a good...