BUSINESS

The tech firm said it placed Yih-Shyan Liaw and one other employee on administrative leave.

The contracts trade 24/7, are cash-settled in USDC and allow for up to 10-times leverage on single-stock contracts and 20-times on ETF products.

Costco treats credit cards differently compared to other retailers.Most chains accept American Express, Visa, and Mastercard. Costco only works with one brand at a time. For decades, that was American Express, but in 2016, the warehouse club switched to its current partner, Visa. Now, Costco has an official Visa with Citi, the Costco Anywhere Visa By Citi, but it also accepts other Visa-branded cards at checkout.Members who get the Costco Anywhere card (and it’s only available to members) get 5% cash back on gas purchased at Costco stations, 4% at other participating stations, 3% cash back on restaurants and travel, as well as 2% cash back on any purchases made at Costco or Costco.com, according to the company’s website. Getting cash back is the headline perk, but there are three others offered by the Citi card that even cardholders may not know about. Costco’s credit card is a mixed bagA co-brand relationship, in which issuers typically add a merchant’s name and logo to a card, “gives you the ability, the scale, the access to clients and terrific partners, the ability to create sticky incentives,” former Citi CEO Mike Corbat said in 2016 at the time of the change. Costco clearly is happy with the deal, even though it rarely comments on it. The warehouse club chain has signed an extension to the original 10-year agreement, according to SEC documents.Costco’s branded credit card works well for Costco power users, but it’s not the best everyday use card on the market as it only offers 1% back on most purchases, while many cards offer 2%. “With an earning rate of nearly 2 cents for every dollar you spend, the Costco Anywhere Visa stands out as one of the most lucrative no-annual-fee cash back cards on the market. But unlike many of its competitors, the Costco Anywhere card doesn’t offer a promotional APR. It also doesn’t offer as much flexibility,” CreditCards.com wrote.Not all opinions are as positive.It’s rare that you find a voice of reason on Reddit, but CoopDude summed up Costco’s credit card problems well in a post on the social media site.“The biggest problem with the Costco Visa is that it has a 1% everywhere earn rate. This means if you use it as your primary credit card — e.g., almost all or all of your spending goes on it — the 1% everywhere else drags on your effective cashback. If you look at the effective cashback that most people get when they post their yearly summaries on r/Costco, they usually average 1.5-1.8% effective cashback, and would have been better off using a 2%+ anywhere card,” they explained. Costco’s credit card has hidden perksThe Costco website shared a number of perks its credit card holders may not realize they get. First, and this is an easy one to miss: The card has no annual fee.Your Costco Anywhere Visa can also fill in for your membership card.”The Costco Anywhere Visa Card doubles as your membership card, complete with your picture and membership number. Show the card at the warehouse entrance, then use it to check out at the register,” the company posted.It also has a key perk for members who travel.”Adventure to Bora Bora, Japan, and beyond with your Costco Anywhere Visa Card. There’s no foreign transaction fees on purchases wherever Visa is accepted,” the company shared.

Costco’s credit card offers the most cash back for buying gas at its own stations. Shutterstock

Is the Costco Anywhere card a good value?Reviews of the Costco Anywhere card are largely positive, but they all point out the same flaws.”For a store card, the Costco Anywhere Visa® Card by Citi carries plenty of goodies in its cart. The card can indeed be used anywhere, not just at Costco, and it offers impressive rewards rates across a wide variety of categories. Its annual fee is $0,” NerdWallet wrote. There are, however, some negatives.”You have to be a Costco member to get the card (or to realize any benefit from it), and that does require a yearly membership fee. And while the card’s rewards rates are generous in some categories, they aren’t particularly high for in-store Costco purchases, and redemption isn’t straightforward,” the site shared.Rewards can be redeemed once a year and only at a physical Costco warehouse. CNBC suggests that the Costco credit card is only right for some users.”While the Costco Anywhere Visa Card is great for loyal Costco customers, if you typically shop at other stores or want to take advantage of more flexible rewards, you may want to consider another Visa credit card like the Wells Fargo Active Cash Card. Costco only accepts Visa-branded credit cards for in-store purchases, so they are the only potential alternatives to the Costco Anywhere card,” the business news site shared.Related: Costco shares good news as gas prices spike

Taylor Swift misses out on her milestone tenth No. 1 on Billboard’s Adult Contemporary chart as “The Fate of Ophelia” stalls at No. 2 behind Alex Warren’s “Ordinary.”

Round-the-clock oil trading on Hyperliquid is drawing investors beyond crypto as geopolitical shocks expose gaps in traditional markets, the bank said.

Fleetwood Mac’s Greatest Hits compilation climbs to a new peak years after release, powered by continued streaming of songs like “Dreams,” “Landslide,” and “The Chain.”

The one-day commercial shoot was filmed in downtown Durham, N.C., in February 2026 after the Boozers had finished practice.

Fran Weaver, the founder, CEO, and largest shareholder of the Uncle Nearest whiskey brand, has lost her bid to take back control of the struggling company.The company has been operated by receiver Phillip G. Young Jr. since August.On March 19 Weaver filed a lawsuit against Farm Credit Mid-America in the Supreme Court of the State of New York, alleging the lender engaged in a smear campaign against the fast-growing whiskey brand by knowingly circulating false accusations, including claims of missing inventory, financial misconduct, negative cash flow, and insolvency, the company shared in a press release.“The accusations circulated about us were not only false. The bank knew they were false when they made them, and they knew those accusations would strike directly at the credibility that allowed this brand to grow against all odds in this industry,” said Uncle Nearest CEO Fawn Weaver.In addition to the lawsuit, she filed a Chapter 11 bankruptcy petition on behalf of the company. Now, a federal judge has thrown out that filing.Uncle Nearest remains under receivershipWhen a company gets put into a receivership, that’s usually a last-ditch effort to save the brand.“The receiver’s job is to literally operate the business,” said John Mark Jennings, a partner in the law firm of Shulman Hodges & Bastian LLP to Smart Business. “A receivership is an action brought against your company because it is being operated to the detriment of shareholders or creditors.”Young had been charged with doing that and had worked on a plan to sell off the company’s non-core assets. Weaver wanted to regain control with her lawsuit and Chapter 11 bankruptcy filing, but those efforts were denied. “U.S. Bankruptcy Judge Suzanne Bauknight ruled March 19 that Fawn Weaver, who launched Uncle Nearest in 2017, was not authorized to file the bankruptcy petitions she submitted on behalf of the company earlier this week. Uncle Nearest is under the control of a receiver who was appointed to steer the company while a lawsuit against the company over more than $100 million in unpaid debt plays out,” Knox News reported. Uncle Nearest’s financial troubles so farTennessee whiskey brand Uncle Nearest was placed into court-ordered receivership in August 2025 after a lawsuit from lender Farm Credit Mid-America alleging the company defaulted on roughly $108 million in loans and lines of credit, according to Forbes.A federal judge appointed a receiver to oversee the company and manage its assets while the lender attempts to recover the debt. The move temporarily removed control from founders Fawn and Keith Weaver, reported Axios.The lawsuit claims the whiskey company violated loan terms and failed to maintain required financial conditions while carrying more than $100 million in liabilities, according to Forbes.Court filings also alleged the company overstated the value of whiskey inventory used as collateral and failed to maintain required cash balances under the loan agreement, Forbes added.The court-appointed receiver has explored selling non-core assets—including vineyards, real estate, and other alcohol brands—to raise cash and stabilize the company, according to TheStreet.Despite the financial dispute, the company has continued operating while the legal process unfolds, with investors and lenders negotiating potential restructuring options, added TheStreet.Uncle Nearest’s fate remains unclearThe judge’s ruling keeps the company out of Chapter 11 bankruptcy for now. Young has been aggressive in asserting his control of the company and keeping Weaver sidelined.“Late March 17, receiver Phillip Young filed an expedited motion for sanctions against Weaver and/or her counsel for Weaver’s ‘wanton and willful violation of this Court’s order appointing the receiver.’ Under that order, only the receiver has the legal authority to take actions on behalf of the company,” according to the Lexington Herald Leader.That motion has not been ruled on yet.Young made it very clear that Weaver did not have the authority to file for Chapter 11 bankruptcy.More Uncle Nearest:159-year-old whiskey brand files disputed Chapter 11 bankruptcyUncle Nearest placed under receviership, faces liquidation“Despite the clear orders of this Court that the Receiver, and only the Receiver, could act on behalf of the receivership entities, on March 17, 2026, Defendant Fawn Weaver signed and filed bankruptcy petitions on behalf of Uncle Nearest, Inc., Nearest Green Distillery Inc., and Uncle Nearest Real Estate Holdings, LLC in the United States Bankruptcy Court for the Eastern District of Tennessee, Knoxville Division,” the receiver said in the filing, which can be found on PacerMonitor.Weaver’s lawyer stated that despite the receivership, she had the right to make the Chapter 11 filing.

Uncle Nearest continues to operate despite its ongoing legal woes.Shutterstock

Fight for Uncle Nearest control continues“There is nothing in 10 q. [the section in question] that states the receiver has exclusive authorization to file nor excludes anyone else from filing,” Weaver’s attorney, Kelli D. Holmes told VinePair. That is true, however, the section of the receivership order directly prior explicitly states “The Receiver shall be exclusively vested with: (a) all the powers of officers, directors, members, and/or managers (as applicable) of Uncle Nearest.” Another section enjoins anyone but the receiver from “disturbing, interfering or affecting the Receivership Assets or the administration of the receivership estate.”In a separate filing Tuesday evening with the receivership court, Young requested an “expedited motion for sanctions,” citing the the bankruptcy filing and a Tuesday press release from Grant Sidney, a nominally unrelated asset controlled by Fawn Weaver that has been the subject of scrutiny due to allegedly commingling funds with Uncle Nearest, as evidence of her “wanton and willful violation of this Court’s Order Appointing Receiver.”Related: 63-year-old sporting goods retailer files Chapter 11 bankruptcy

With help from Washington, new crypto trust-banks are bypassing guardrails governing traditional banks.

A top Wall Street economist is breaking with the Federal Reserve and warning that interest-rate cuts may be off the table completely through 2026 as inflation and the Iran War reshape the outlook.Michael Feroli, the chief U.S. economist for J.P. Morgan, disagrees with the Federal Reserve’s new forecast on interest-rate cuts this year.Feroli told CNBC March 19 that the Fed will keep interest rates on hold for the rest of 2026.He also said the central bank’s next move will be a rate hike in 2027.“The conflict in the Middle East adds a whole new wrinkle,” Feroli said one day after the Federal Open Market Committee voted 11-1 to continue to pause the benchmark Federal Funds Rate  at 3.50% to 3.75%. It was the second FOMC meeting in a row to hold rates but the first since the Iran War erupted. In its press release, the FOMC said available indicators suggest that economic activity has been expanding at a solid pace. “Uncertainty about the economic outlook remains elevated. The implications of developments in the Middle East for the U.S. economy are uncertain,’’ the release said. “The Committee is attentive to the risks to both sides of its dual mandate.”    What the Fed dual mandate requires for jobs, pricesThe Fed’s dual congressional mandate requires it to balance full employment and price stability.Lower interest rates support hiring but can fuel inflation.Higher rates cool prices but can weaken the job market.The two goals often conflict, operate on different timelines and are influenced by unpredictable global events like pandemics and wars.  More Federal Reserve:Fed Chair Powell sends frustrating message on future interest-rate cutsEven before the outbreak of the Iran War, the Fed faced a dilemma from worrisome risks to both sides of its congressional mandate: higher unemployment rates and sticky inflation.

Federal Reserve Bank of New York via FRED®

How the Federal Funds Rate affects youThe benchmark Federal Funds Rate impacts nearly all Americans.That’s because it guides interest rates for auto and student loans, home-equity loans and credit cards. It also impacts the 10-year Treasury bond which in turn affects mortgage rates in the stagnant housing market.Billions of dollars in taxpayer money — primarily from individual tax returns and payroll taxes — pay the interest on the nation’s $38.9 trillion debt. For consumers, a delayed rate cut could mean higher borrowing costs during an affordability crisis causing many Americans to scramble to pay energy, grocery, shelter and healthcare bills in a “low-hire, low-fire” labor market.FOMC paused rate cuts in JanuaryThe FOMC voted 10-2 to hold interest rates steady at 3.50% to 3.75% in January after three continuous cuts of 25 basis points in its last three meetings of 2025.Those cuts were based on data showing increasing weakening in the labor market and cooling inflation, although still sticky and tariff-laced.Related: Fed split holds as Iran war scrambles rate pathFed Chair Jerome Powell told reporters after the March 18 meeting that the economy was settling into a moderately neutral range.A neutral range for economists means monetary policy is neither stimulating nor restricting economic growth.Fed “dot plot” calls for one rate cut in 2026 The Fed’s “Summary of Economic Projections” provides its estimates of inflation, unemployment, and economic output, in addition to estimates of interest rates that officials see as most appropriate policy over a three-year horizon. The interest rate estimates, also known as the Fed’s “dot plot,” are closely watched on Wall Street for insight into the central bank’s thinking and plans.The SEP is a quarterly report from all 19 Fed officials, including the 12 voting members of the FOMC.The March “dot plot” calls for a single 25 basis point rate cut in 2026, and an additional 25 basis point cut in 2027, the same as the December 2025 forecast.But Powell noted in his press conference that the rate cut was not guaranteed, especially if the projected decrease in inflation doesn’t occur. “If we don’t see that progress, then you won’t see the rate cut,” he said.The March “dot plot” projections are more uncertain than in the past because of the Iran War, Powell said.The CME Group FedWatch Tool expects a 27.5% likelihood of a 25 basis point interest rate cut in December. Feroli cites inflationary pressures in PCE, CPIThe latest inflation data show prices that continue “to run too hot for comfort,” according to Feroli.January Core PCE: The core Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge, rose 3.1% year-over-year. It increased by .04% on a monthly basis.February Core CPI: The core February Consumer Price Index (CPI) remained steady at a 2.5% annual rate, the same as January. The core CPI rose 0.2% in February.“We have an inflation problem,’’ Feroli said, while noting that it was running above the Fed’s 2% target but adding that it was not “intractable.” Given the “pretty favorable economy,’’ Feroli said inflation “should get better over time.” Related: Former Fed insiders issue stark warning on U.S. economy