Updated at 4:10 pm ET to reflect the stock’s day-end closing price. Digital bank Chime went public on the Nasdaq stock exchange today, and its stock rose 37% to $37 per share, bringing its valuation to $16 billion when factoring in the total number of outstanding shares reported by FactSet. (In the first few minutes of trading, Chime’s price hit a peak of $44.94 and then hovered between $35 and $40 for most of the day.) The company raised $684 million in the initial public offering (IPO). The IPO pop follows two other successful public debuts over the past month,…

The Consumer Price Index numbers for May came out on Wednesday. The seasonally adjusted number was up 0.1% in May, a drop from April’s 0.2%. except for March, it was the lowest monthly inflation figure since July 2024. Over the last 12 months, inflation was 2.4% before seasonal adjustment. There is volatility over time, but also a downward trend line, even if it hasn’t dropped fast enough for people’s tastes. Below is a graph from the Federal Reserve Bank of St. Louis, showing year-over-year comparisons. The news was good, at least in theory and at a high level. At a…

The Trump administration and congressional Republicans seem intent on peeling back some basic regulatory framework introduced by the Sarbanes-Oxley Act in 2002. They argue that the burden on companies is too heavy and, by removing the regulations, corporations would be free to invest, expand, and grow the economy. The arguments are understandable but ultimately unconvincing. For large corporations, the amounts they devote to compliance are proportionately trifling, and some of the biggest coherent additions to the regulatory framework happened at the start of what would become share increases in corporate profits. What Is On The Chopping Block? You may have…

Republican lawmakers in the Senate on Tuesday unveiled their version of the higher education component of the “big, beautiful” reconciliation bill that was passed by their House counterparts last month. And it’s not great news for borrowers pursuing certain student loan forgiveness programs or hoping for more affordable payments based on their income. While GOP senators would make some modest changes to the House bill, most of the House-passed provisions repealing key student loan forgiveness and affordable repayment programs would remain intact. This increases the likelihood that the changes would make it into the final version of the bill and…

Trump and Pardons In 2025, President Donald Trump issued a series of high-profile pardons and commutations, notably surpassing his previous clemency record (143 pardons and 85 commutations). A significant action was the mass pardon on January 20, 2025, for approximately 1,500 individuals convicted in connection with the January 6, 2021, U.S. Capitol attack. This included full pardons for leaders of extremist groups such as the Proud Boys and Oath Keepers. Other notable clemency recipients included Ross Ulbricht, founder of the Silk Road dark web marketplace, who received a full and unconditional pardon; 23 anti-abortion activists convicted under the Freedom of…

Saving enough money is half the battle for a comfortable retirement. After years of diligently building up your nest egg, your next hurdle is ensuring that your money lasts. Unlike in the accumulation phase where your contributions and compounding work in your favor, the withdrawal phase demands careful planning and strategy. You wouldn’t want to risk depleting your assets too early or paying more in taxes than necessary. This article explores five actionable tips that can help you maximize your retirement income and sustain you for the long haul. 1. Start With A Conservative Withdrawal Rate Withdrawal rate refers to…

Arbitration is a process whereby the parties to a dispute agree that it will be privately decided outside of the normal court process. Instead of the formal and heavily-structured litigation procedures of our courts, which can be very expensive and take literally years to reach a conclusion, arbitration offers a much more informal and less-structured process where a result can be reached within just a few months for a fraction of the cost. Instead of a judge, the parties to an arbitration hire what amounts to a private judge, known as the arbitrator of course, to oversee the arbitration process,…

The Trump administration and congressional Republicans seem intent on peeling back some basic regulatory framework introduced by the Sarbanes-Oxley Act in 2002. They argue that the burden on companies is too heavy and, by removing the regulations, corporations would be free to invest, expand, and grow the economy. The arguments are understandable but ultimately unconvincing. For large corporations, the amounts they devote to compliance are proportionately trifling, and some of the biggest coherent additions to the regulatory framework happened at the start of what would become share increases in corporate profits. What Is On The Chopping Block You may have…

Thirteen-year-old digital bank Chime is expected to go public on Thursday and has already built one of the fintech industry’s largest consumer-facing businesses, with 8.6 million active customers and $1.7 billion in 2024 revenue. There are sound reasons to believe the San Francisco company can continue its history of rapid growth, including the huge size of the market it’s tackling, which consists of nearly two hundred million Americans earning up to $100,000, and its knack for getting people to make Chime their primary banking app. Many industry insiders believe Chime’s momentum, combined with pent-up demand from Wall Street firms for…

If fashion is a language, sneakers are how many in the streetwear community speak. Now, the sneaker market faces a shocking reality as Trump’s tariff policies drive prices through the roof. With the U.S. imposing duties on imported footwear, especially from China where lots of sneakers are made, consumers may soon feel the sting on their feet and their wallets with a 30% tariff increase. The Breakdown You Need To Know: CultureBanx noted that prices will rise substantially as brands adapt to this new economic landscape and the numbers tell a stark story. Athletic footwear and apparel giant Nike produces…