Super Bowl LX players face jock tax reducing bonuses significantly

Players who will take the field for Super Bowl LX on Sunday will face a significant tax bill due to the game’s location triggering what’s known as a “jock tax.” Super Bowl LX will be played in Santa Clara, California, and the Golden State is one of a number of states…

Dow Jones Industrial Average closes above 50,000 points for first time

The Dow Jones Industrial Average topped 50,000 points for the first time on Friday as investors rallied in response to a rout in tech stocks earlier in the week. The closely watched index rose above 50,000 for the first time after 2 p.m. during Friday’s trading session after rising more…

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Private sector adds 22,000 jobs in January: ADP

Companies in the private sector added just 22,000 jobs in January, payroll processing firm ADP said Wednesday. The figure is well below economists’ estimates of a gain of 48,000 jobs. The prior month’s payrolls number was revised lower to a gain of 37,000 from an…

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Costco recalls mislabeled beignets over serious allergy risk concerns

Costco issued a recall notice for mislabeled bakery items that could cause allergic reactions in customers. Costco announced that one of its products, “Mini Beignets filled with Caramel,” was “inadvertently packaged with Mini Beignets filled with Chocolate Hazelnut.” The company said the mislabeled units contain “undeclared Tree Nuts.””If you are…

New SNAP work requirements take effect in more states under Trump-backed law

New work requirements are expanding across more states Sunday for the Supplemental Nutrition Assistance Program, or SNAP, the nation’s largest federal assistance program. Starting today, adults between the ages of 18 and 64 without dependent children must work, participate in employment and training programs, or volunteer at least 80 hours…

Trader Joe’s edges out Publix in grocery store ranking

Trader Joe’s has notched the top spot on the American Customer Satisfaction Index’s 2026 supermarket rankings. According to the “Satisfaction Benchmarks by Company” list, Trader Joe’s earned an 86 compared to second-place Publix’s 84. H-E-B came in third with an 83.The web page notes that “2026 results” are based on…

Kevin Warsh nominated as Fed chair; key senators react

President Donald Trump on Friday nominated Kevin Warsh to serve as the next chairman of the Federal Reserve, setting up a confirmation process that could prove contentious as it moves through the Senate. Warsh, 55, previously served as a member of the Federal Reserve Board of Governors from 2006 to 2011…

Trump selects longtime BLS economist Brett Matsumoto as new commissioner

President Trump plans to nominate economist Brett Matsumoto to head the Bureau of Labor Statistics, according to people familiar with the matter. The choice elevates a career staffer to run the federal government’s leading agency for economic statistics, which has been without a commissioner since Trump fired its previous chief…

Business leaders weigh in on nomination of Kevin Warsh as Fed chair

President Donald Trump on Friday announced the nomination of Kevin Warsh to serve as the next chairman of the Federal Reserve following a lengthy deliberation process. Warsh, who previously served as a member of the Fed’s Board of Governors from 2006 to 2011, was under consideration for the chairman role when…

Kevin Warsh nominated as Fed chair; key senators react

President Donald Trump on Friday announced that he is nominating Kevin Warsh to succeed Jerome Powell as chairman of the Federal Reserve, ending months of speculation over who he’d pick to head the central bank. “I have known Kevin for a long period of time, and have no doubt that…

Many Saks OFF 5TH locations closing nationwide following bankruptcy filing

Saks Global announced the majority of its Saks OFF 5TH locations across the United States will now be closing, just weeks after a bankruptcy filing.   The luxury retailer said 23 of its Saks OFF 5TH stores will cease operations on Monday, Feb. 2, while another 34 will hold closing sales…

Middle-income Americans say income falls behind costs in Primerica survey

Middle-income Americans are continuing to feel financial strain and say their income is being outpaced by the rising cost of living, according to a new analysis by Primerica. The financial services firm released the latest edition of the Primerica U.S. Middle-Income Financial Security Monitor quarterly survey on Thursday, which showed…

Federal Reserve links tariffs to slower US employment growth rates

An analysis by the Federal Reserve Bank of Kansas City found that tariffs may have slowed job growth in the U.S. economy in 2025 after the higher import taxes were implemented. Economists at the Kansas City Fed noted that employment growth slowed markedly from 170,000 per month in 2024 to only 75,000…