Detroit’s historic bankruptcy case — the largest municipal bankruptcy in U.S. history — has officially closed more than 13 years after the city first sought Chapter 9 protection amid a financial collapse that reshaped the city’s finances, pensions and long-term fiscal strategy. U.S. Bankruptcy Judge Thomas Tucker granted the city’s…

EXCLUSIVE: Rep. Nick Begich, R-Alaska, is unveiling the American Reserve Modernization Act to establish a U.S. strategic bitcoin reserve in an attempt to diversify America’s reserves balance sheet. This bill, which is receiving bipartisan support, would establish the reserve within the Treasury Department with a separate digital asset stockpile for…

Seattle Mayor Katie Wilson is walking back earlier comments urging consumers to boycott Starbucks, as tensions grow over Seattle’s relationship with major employers and the coffee giant expands its footprint outside Washington state. Wilson, a democratic socialist elected last year on a progressive, labor-backed platform, told The New York Times…

close video U.S. efforts to crack down on Iran’s growing use of cryptocurrency are intensifying as officials work to cut off financial channels tied to the regime as tensions rise in the Middle East. BESSENT SAYS US SEIZED NEARLY $500M IN IRANIAN CRYPTO AS OPERATION ECONOMIC FURY SENDS REGIME INTO…

Sporting brand powerhouse Fanatics and American Express announced Wednesday a partnership that will allow Amex users to tap into their sports fandom. The bank holding company is now the Official Payments Partner across select Fanatics online and retail locations worldwide and a presenting sponsor at Fanatics Fest, one of the world’s premier sports fan…

Federal Reserve policymakers were concerned about high energy prices contributing to inflationary pressures in the economy when they held interest rates steady last month, the minutes from the meeting show. The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions, released the minutes of policymakers’ April…

Trader Joe’s is expanding its footprint with 25 new locations across 14 states, adding to its previously announced growth pipeline, the company said. The popular California-based grocery chain announced Wednesday that nine additional stores are now in development, bringing the total slate of upcoming openings to more than two dozen.All…

SpaceX on Wednesday submitted documents to move forward with its highly anticipated initial public offering (IPO), as the revolutionary company that’s pursuing the eventual colonization of Mars and deploying space-based AI data centers. The company, led by CEO Elon Musk, has grown into the world’s largest space business and is…

Thousands of patio swings sold at Costco are being recalled because the seats can suddenly detach while in use, creating what officials describe as a “risk of serious injury or death from a fall hazard.” World Bright International Limited is recalling about 18,500 Agio Menlo Woven Patio Swings following eight…

Amazon founder Jeff Bezos on Wednesday defended his company’s decision to back a Melania Trump documentary, saying he had no involvement in the deal and rejecting claims it was intended to curry favor with President Donald Trump. Speaking with CNBC’s Andrew Ross Sorkin, the tech billionaire dismissed reports suggesting he…