Economy

Fraudsters bought game-worn Kobe Bryant sneakers and Ferraris with taxpayer funds

In a secret federal law enforcement warehouse in Southern California, dozens of Ferraris, Lamborghinis and stacks of coveted sports memorabilia – like Mickey Mantle rookie cards and game-worn Kobe Bryant sneakers – offer a modest testament to the mountains of taxpayer money being illegally diverted through fraud, law enforcement officials told CBS News.

Traders on Kalshi indicate that May's jobs report will top Wall Street expectations

Traders on prediction markets are in consensus with Dow Jones estimates that the number of jobs in May will drop from April.

Individual traders drove Kalshi’s rise. Now, it’s going for Wall Street

In a series of moves in 2026, the prediction market platform in the U.S. is working to make its event contracts more attractive to institutional trading.

Barry Diller's People Inc. Offers to Buy MGM Resorts, Valuing It at $18 Billion

Barry Diller's People Inc. is offering to buy the rest of MGM Resorts after acquiring a 26.1% stake in the Las Vegas casino and resort operator, valuing the business at more than $18 billion.

Americans' Financial Literacy Slumps to a 10-Year Low, New Study Finds

Americans' understanding of basic financial concepts has fallen to a 10-year low, raising concerns that households are becoming less prepared to manage debt, savings and retirement decisions, according to a new study from investment giant TIAA and Stanford University's Global Financial Literacy Excellence Center.

What are today's mortgage and mortgage refinance interest rates?

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'Catastrophic for creative industries': Brexit barriers shut UK actors out of EU jobs

Casting shifts to EU talent as paperwork delays and visa limits make hiring British crews less viable

LA's Storied Fashion District in a Slump

The neighborhood that makes America’s clothes has been buffeted by ICE raids and post-Covid problems – but leaders say hope is on the horizon

Citi turns bullish on copper with forecast of $15,000 per ton within a year

In a note published on Monday, Citi analysts forecast the price of copper to hit $14,500 per metric ton next month and $15,000 per metric ton within a year.

The stock market just did something eerily similar to the dot-com bubble top in 2000

Surging stock performance in May was concentrated in the AI adjacent.

How Iran Killed Its Economy

For a moment, Iran had a thriving tech industry that promised people a better future. Then the regime mounted a terrifying backlash.

The Spanish Exception

The country’s leaders avoided a populist backlash by engineering an economic boom. Now the boom is creating problems of its own.