Author: Editor

There’s a flood of money rushing to the biggest deals in private-credit land, and it’s starting to squeeze returns for the end investors.In recent years, managers like BlackRock, Millennium, Ares, D.E. Shaw, Blackstone, and others have raised massive funds, acquired long-standing private debt players, and launched new units to lend to companies and projects, with many focusing on infrastructure, both physical and digital.But that much competition for deals means lendees, not lenders, have their pick of a partner and can negotiate for more favorable terms, which has tamped down return expectations for the asset class. Private credit was the hottest…

Some people like reading or long walks. Others like olive oil.But would you list olive oil as an interest on your résumé? That’s the latest internet debate after a post about the interests section on résumés went viral on X.The person, who said they were reviewing résumés for a banking role, wrote that applicants needed to be “normal” and “well adjusted.””I reviewed a resume that listed ‘olive oil’ as an interest. That is not an interest,” they wrote. “It’s been hours and I cannot stop thinking about it. There will not be an interview.”The identity of the X user, @90daysliquidity,…

FILE – Luigi Mangione appears in Manhattan Criminal Court for an evidence hearing, Dec. 18, 2025, in New York. Shannon Stapleton/POOL Reuters/AP hide caption toggle caption Shannon Stapleton/POOL Reuters/AP NEW YORK — A man claiming to be an FBI agent showed up to a federal jail in New York City on Wednesday night and told officers he had a court order to release Luigi Mangione, authorities said. He’s now locked up there too. Mark Anderson, a 36-year-old Minnesota native who has a history of drug and other arrests and disclosed last year in court papers that he suffers from mental…

Online publisher Medium has told its employees that they are free to take Friday off to participate in a nationwide immigration strike.Medium’s CEO, Tony Stubblebine, said in a series of messages in the company’s general Slack channel that he had “started the week in my own head and heart” over the situation in Minneapolis. Protests have broken out in the state after the fatal shootings of Renee Good and Alex Pretti. “But also it gives me hope to see people across the country stand up and push back,” he said in the messages, which he cross-posted on Threads on Thursday.…

The founder of an auto parts company whose bankruptcy rattled Wall Street and prompted a debate about private credit has been charged with fraud.Manhattan federal prosecutors on Thursday charged Patrick James and his brother Edward James in a multibillion-dollar fraud scheme that they allege involved years of fake invoices and the double- and even triple-pledging of assets.Patrick James is the founder and former CEO of auto parts maker First Brands, which filed for Chapter 11 bankruptcy protection in September. Its bankruptcy was followed by the collapse of subprime auto-lender Tricolor Holdings, sparking a broader debate about the health of the…

A judge urged MrBeast and his burger business partner to settle their legal battle to avoid airing “dirty laundry” — but paved the way for the case to go to trial.At a hearing on Thursday, New York County Supreme Court Judge Jennifer Schecter appeared skeptical about the damages sustained by either side, both of which are suing the other. Despite that, she ruled that both cases could proceed.VDC said it looked “forward to having our day in court.” MrBeast’s reps declined to comment.YouTube’s top star, MrBeast (real name Jimmy Donaldson), launched MrBeast Burger, a largely delivery-only venture selling burgers and…

The White House Council of Economic Advisers released a research study analyzing the economic impact of state income tax elimination.Processing ContentThe study, released Wednesday, compares states without income taxes, such as Florida, Tennessee and Texas against high-tax states such as California, New Jersey and Florida. It noted that five of the nine states that currently have no personal income tax rank among the top 10 states in terms of GDP growth over the past decade and four rank among the top 10 states in terms of net migration rates from other states, according to U.S. News & World Report. On…

The chairman of the Commodity Futures Trading Commission on Thursday said the agency will rescind its warnings to prediction-market operators — and threatened to fight with state regulators that are trying to stop them.Michael Selig said the commission would yank a 2025 memo issued by three senior CFTC staffers advising prediction markets to have back-up plans if courts scuttled their sports contracts.The memo, he said, “contributed to uncertainty in our markets.”He also said he was scrapping a previous rulemaking effort that would have limited prediction markets and is starting over — a process that could take years.”For too long, the…

The American Institute of CPAs is asking the Internal Revenue Service for a contingency plan that would keep 100% of IRS employees on the job in case of a government shutdown in the midst of tax season.Processing ContentThe IRS kicked off the 2026 tax-filing season Monday with the threat of another government shutdown looming. The IRS needed to limit its services during last fall’s 43-day shutdown and furlough employees who hadn’t already departed amid a wave of layoffs of resignations earlier in the year that led to a 27% reduction in the IRS workforce. The IRS’s workforce now stands at…

Saks Global, the bankrupt company behind Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, is closing the majority of its off-price locations, Saks Off 5th and Last Call.In January, Saks Global filed for Chapter 11 bankruptcy protection following a year marked by missed payments and restructuring. The company owes hundreds of millions of dollars to brands like Chanel and LVMH.As part of its turnaround plan, Saks is “sharpening its focus on luxury” and closing the majority of its outlets, the company said in a statement.”We are taking decisive steps to realign our business to better serve our luxury customers,” Geoffroy…