Money in the News
Trending and breaking stories with a financial angle. This category covers the headlines that affect people’s wallets, from government policy shifts and cost of living changes to corporate upheaval and the financial side of technology. This is what keeps The Money Overview current with the broader news cycle.
Latest in Money in the News
Brent crude hit $111 a barrel today, its highest price since 2022 — gas sat at $4.51, just 51 cents from the all-time U.S. record
American drivers paid a national average of $4.51 for a gallon of regular unleaded during the first week of June 2026, according to AAA’s daily...
Wholesale prices surged 6% in April, the biggest jump since 2022 — economists say the price hikes haven’t reached your grocery receipt yet
A gallon of diesel cost roughly 13% more in April than it did in March. A dozen eggs at the supermarket? Barely a penny more....
PayPal is slashing 20% of its workforce — 4,760 jobs because the new CEO says the company “lost ground to rivals”
PayPal plans to eliminate roughly 4,760 jobs over the next two to three years, a reduction of about 20% of its workforce and the deepest...
Shelter costs rose 0.6% in April — rent is now 4.3% higher than a year ago, outpacing both wages and overall inflation
A renter earning the average private-sector hourly wage brought home about 3.6% more this April than a year earlier. Over that same stretch, the rent...
17 Americans from the hantavirus cruise ship are in quarantine in Omaha — 3 passengers died and the Andes strain can spread person to person
Seventeen Americans are spending their days inside sealed quarantine rooms in Omaha, Nebraska, waiting to find out whether a virus they may have been exposed...
A Gartner report says AI layoffs haven’t saved companies a cent — but 37,000 workers lost their jobs in the first 10 days of May anyway
Between May 1 and May 10, 2026, more than 37,000 workers across the United States learned their jobs were gone. A budget airline that once...
Tariff costs finally hit the clothing rack — apparel prices jumped 0.6% in April, the first meaningful increase in years
For most of the past decade, the price of a basic T-shirt or pair of kids’ sneakers barely budged. Cheap overseas production, cutthroat competition among...
Airline fares rose 20.7% in the past year — the steepest annual increase on record, and Spirit Airlines shutting down made it worse
A round-trip flight from Orlando to Chicago cost as little as $120 on Spirit Airlines last spring. Today, with Spirit gone and no ultra-low-cost carrier...
Grocery prices jumped 0.7% in April alone — the sharpest monthly food-at-home increase since early 2023, led by meat, dairy, and coffee
For a few months, the supermarket had started to feel almost normal again. Price tags still stung, but the worst of the post-pandemic grocery shock...
Gas hit $4.50 the same day the CPI showed it’s the biggest driver of inflation — the all-time U.S. record is just 52 cents away
Filling up a midsize sedan cost more than $65 at most stations on the morning of May 12, 2026, the same morning the federal government...
American paychecks shrank in real terms for the first time since 2023 — wages grew 3.6% but prices rose 3.8%
A worker earning the national average hourly wage of $31.27 took home a bigger number on their pay stub in April 2026 than a year...
The first tariff refund checks land this week — but CBP accepted only 21% of claims, and most small businesses need a customs broker just to file
The first tariff refund payments started hitting importers’ bank accounts this week, marking the beginning of a payback process for businesses that overpaid duties under...
Household debt hit $18.8 trillion — and the savings rate dropped from 6.2% to 4.0% because every extra dollar goes to gas and groceries
Household debt hit $18.8 trillion – and the savings rate dropped from 6.2% to 4.0% because every extra dollar goes to gas and groceries The...
Meta is cutting 8,000 workers on May 20 and canceling 6,000 open roles — while spending up to $135 billion on AI this year
For the roughly 8,000 Meta Platforms employees who opened an internal memo on a late-April morning and learned their roles would be eliminated on May...
Gas sat 16 cents from the all-time U.S. record — then Trump rejected Iran’s peace deal and crude shot back above $101
Sixteen cents. That was the gap between the national average price of regular gasoline and the all-time U.S. record when President Trump rejected ceasefire talks...
The AI layoff wave just accelerated — Cloudflare cut 20% of its staff despite record revenue, PayPal is cutting 20% over 3 years, and 92,000 tech workers have been laid off in 2026 so far
On May 7, roughly 1,100 Cloudflare employees learned their jobs no longer existed. Hours earlier, the company had reported the best quarterly revenue in its...
Trump told PBS the Iran war has “a very good chance of ending” — while Iran reviewed his 14-point peace memo and called it “excessive,” and three Navy destroyers took fire in the Strait of Hormuz this week
Three U.S. Navy destroyers came under Iranian fire in the Strait of Hormuz in late May 2026, American warships struck back, and within days President...
The first tariff refund checks arrive around May 11 — Cards Against Humanity is passing every cent to customers, but 0 of 25 CFOs surveyed plan to do the same
Starting around May 11, 2026, U.S. Customs and Border Protection will begin cutting refund checks to thousands of American importers who paid tariffs the Supreme...
Household debt hit $18.8 trillion — and Americans are saving less despite earning more, because every extra dollar is going to gas and groceries
The average American worker earned more in early 2026 than a year ago. The average American household also owed more, saved less, and watched a...
Gas just hit $4.55 a gallon — 16 cents below the all-time record — and Iran warned it will launch a “heavy assault” on U.S. ships if the ceasefire breaks
Filling up a tank of gas now costs American drivers more than it has at any point since the summer of 2022. The national average...