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TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealSmall, awkward areas in your home may seem inconvenient at first, but there’s actually a lot of potential there. It may not be the best place for a large dresser, but it just might be the perfect spot for a narrow freestanding storage cabinet. These versatile pieces of furniture capitalize on vertical storage, turning what seemed like an unused space into an organizational hub.The Costway Rattan Freestanding Slim Storage Cabinet has a beautiful design and an even better sale price. It’s on sale for just $60, which is a deal compared to its regular price of $280. With 79% off, you save $220 and get a small-space-friendly organizer that can help you declutter once and for all. Costway Rattan Freestanding Slim Storage Cabinet, From $60 (was $280) at Target

Courtesy of Target

Shop at TargetWhy do shoppers love it?Measuring 11.5 inches long by 11.5 inches wide by 54 inches high, you need less than a foot to make this narrow cabinet work in your space. With a compact size, it suits small bathrooms, entryways, hallways, and more. It has four shelves, one of which is adjustable. You can choose between 12 shelf heights, which is significantly more positions than other cabinets with adjustable shelves that we’ve covered. Typically, they’re limited to around three heights, so 12 is impressive. And if you need more room per shelf, you can remove it entirely to have three compartments instead of four. The open shelves are ideal for books, plants, decor, and other items you want to put on display. Below the cubbies is a single-door cabinet with handwoven rattan detailing. The rattan panel isn’t just a design perk, but also practical, allowing air flow and ventilation. The cabinet portion is great for hiding away any clutter that you don’t want to put in the open spaces. The tapered solid wood legs are the perfect finishing touches. The cabinet comes in three colors: natural, black, and white. The natural colorway gets you the best price at $60, while the others range from $82 to $84.Related: Practical storage cabinets to declutter every room in your homePros and cons of the Costway Rattan Freestanding Slim Storage CabinetProsCan fit into small spaces: Since it has a slim and narrow design, it can easily fit into small spaces, like bathrooms.Stylish design: Available in three colors, this cabinet is stylish and versatile. The tapered legs and rattan door panel make it look more expensive than it is. Open and closed storage: It has adjustable open shelving and a single-door cabinet, giving you various storage options. ConsColor variations: Some reviewers say the colors look different in person.Wood blend: It’s made from both engineered wood and solid wood, which isn’t ideal for someone looking for a full solid wood piece.”It’s a brilliant organizational solution that combines style and practicality seamlessly. The adjustable shelf with 12 positions is a stroke of genius. Talk about versatility,” a shopper said. “It’s an organizer’s dream come true!” Another reviewer highlighted the size, saying it’s “small but mighty” with “great storage space,” and they “like how little space it takes up.”Shop more dealsTangkula Tall Slim Bathroom Storage Cabinet, $65 at AmazonHitnet Rattan Storage Cabinet, $67 at AmazonThe Costway Rattan Freestanding Slim Storage Cabinet is on sale for as low as $60. With style and practicality, it’s a great deal that can help you get organized.

While travel brings so many people joy, those who do it frequently know that the rush of booking a trip to a new destination is often tempered by the price of the hotel.Accommodation accounts for up to 40% of the trip cost for the average traveler, Hotel News Resource indicates. In fact, creeping increases in the price of a room in the U.S. — 5.1% year over year in May, according to the U.S. Bureau of Labor Statistics — are discouraging many from traveling at all.But in some parts of the world, hotel prices have seen significant drops. According to the annual 2026 Hotel Price Index released by travel booking platform Hotels.com, the biggest drops this year were 31% in the Italian coastal town of Alassio and 25% in the German city of Leipzig.Which cities are seeing the biggest drop in hotel prices in 2026In both cases, the prices reflect an adjustment from a sudden spike in popularity in the previous year, as visitor numbers stabilized to reflect actual demand.In the U.S., Hotels.com booking data showed the biggest drop (27%) in hotel rates at Lahaina on the Hawaiian island of Maui, alongside respective decreases of 13% in Burlington, Vermont; 10% in North Myrtle Beach, South Carolina; 10% in Las Vegas; and 9% in Bozeman, Montana.Related: A former prison now welcomes guests as luxury hotelInternationally, the biggest drops after the two front-runners were recorded in Vietnam’s Hanoi at 22%, England’s Bournemouth at 16%, Scotland’s Dundee at 15%, Mendoza in Argentina at 14%, Menton in France at 14%, and Cádiz in Spain at 13%.The numbers represent overall prices throughout the year rather than specific rates during times of the year that may be more or less popular.

The Vietnamese city of Hanoi saw one of the biggest decreases in hotel prices in 2026.Shutterstock

Hotel prices are the most expensive in these cities right now: Hotels.com reportThe average night at a five-star hotel booked through the platform cost $250 USD globally and $370 per night in the U.S. In expensive cities such as New York and Seattle, that number goes up to averages of $332 and $400 per night, respectively.More Travel News:Airline to launch unusual new flight to Cayman Islands from the U.S.There is a very cool Irish version of swimming pigs in the BahamasUnexpected country is most luxurious travel destination for 2026Low-cost airline launches easier way to get to Sri Lanka”With increasing volatility in travel prices this summer, fuel costs may be dominating the conversation, but hotel prices are where travelers are making real trade-offs,” Melanie Fish, vice president of Global PR for Hotels.com, said in a statement on the study. “Travelers may be feeling the squeeze, but they’re also getting smarter.”According to the report’s findings, “getting smarter” comes down to money-saving moves such as booking their stays on Sundays instead of Fridays and choosing hotels with breakfast to save money on eating out.Use of the Hotels.com “budget” filter for finding less expensive options has also, according to the platform, surged by nearly 1,800% from 2026 to 2025 in one of the clearest indications ever that travelers are increasingly looking to bring down the total cost of their stay.Use of the “rewards” filter also jumped by 820% among travelers using points and membership benefits to score free travel or reduce their final bill.Related: Luxury hotels are increasingly betting big on Rwanda travel

A new analysis of retirement savings trends from Fidelity Investments reveals a surprising generational shift toward Roth accounts, alongside record-high individual savings rates. Younger workers are increasingly driving growth in tax-advantaged retirement vehicles, heavily leading a significant surge in Individual Retirement Account (IRA) adoption, Fidelity’s Q1 2026 Retirement Analysis found.The report includes findings on savings behaviors and account balances for more than 54 million of Fidelity’s IRA, 401(k), and 403(b) retirement accounts.Fidelity tracked an unprecedented level of momentum coming from its youngest demographic of investors. “Gen Z is also leading IRA growth, with total IRA contributions increasing 65% year-over-year, followed by Millennials with a 31% increase,” according to the report.This momentum is heavily directed toward after-tax retirement savings vehicles rather than traditional choices. “These record levels were driven by strong Roth demand, with 67% of contributions going to Roth IRAs and Roth conversion transactions increasing 41% year-over-year,” Fidelity wrote.The surprising velocity of the Roth account shiftThe move toward Roth accounts among Gen Z is logical, as young people are likely in the lowest tax bracket of their career. But the velocity of the movement is surprising.For decades, traditional pre-tax contributions were the unchallenged default standard. Gen Z seems to be breaking through that inertia.“One thing I always walk clients through is the idea that the Roth vs. traditional decision isn’t just about where you expect tax rates to go — it’s about your income trajectory right now,” CPA Dat Ngo of Vetted Prop Firms told me in an email June 29. “If you’re in a lower tax bracket today and expect meaningful income growth over the next decade, paying taxes upfront with a Roth contribution is often the smarter long-term move.”This specific preference for after-tax vehicles is mirroring itself within workplace retirement benefits as well. “Additionally, as of Q1 more than one in five Generation Z participants (21.4%) contributed to a Roth 401(k),” the report states.Among Millennial savers within the Fidelity ecosystem, account activity remained largely steady despite macroeconomic shifts. “Only 5% of Millennials adjusted their 401(k) asset allocation in Q1, and nearly one in five (18.4%) increased their savings rate,” according to the report.Four scenarios for long-term 401(k) account growthLet’s see if we can put ourselves in the shoes of some of these young 401(k) savers Fidelity is reporting on.To illustrate potential long-term impacts of choosing between a Roth and a traditional 401(k), I put together some simple calculations involving a 22-year-old worker earning $60,000 who actively plays with their savings percentages. In Scenario 1, the worker contributes 10% ($6,000) annually into a traditional 401(k). Assuming an 8% average annual return over 40 years, the account grows to $1,554,330. However, assuming a modest 15% effective tax rate upon withdrawal in retirement, the actual net total drops by $233,150, leaving the worker with a true take-home total of $1,321,180.Scenario 2 takes that exact same 10% savings rate ($6,000) but routes it entirely into a Roth 401(k). Because Roth accounts grow entirely tax-free, the compounding engine yields the same $1,554,330 ending balance, but the worker owes absolutely nothing to the IRS at retirement. Even though the worker had to pay income taxes on that $6,000 upfront during their working years, locking in the tax-free status early generates an extra $233,150 in clean, spendable retirement wealth compared to the traditional path.Scenario 3 tracks what happens if a traditional 401(k) saver tries to match the Roth investor’s discipline. Because traditional contributions are pre-tax, a 10% contribution only reduces the worker’s take-home pay by $5,280 (assuming a 12% current tax bracket). If the worker is savvy and invests that extra $720 in annual tax savings into a standard taxable brokerage account returning a tax-dragged 6%, that side pot grows to $111,430. Combined with the net traditional 401(k), the total wealth reaches $1,432,610 — still leaving them $121,720 short of the pure Roth total.Scenario 4 models aggressive optimization, where the young worker pushes their savings rate to the 14.4% Fidelity record average, putting $8,640 annually into a Roth 401(k). Over 40 years at an 8% return, this higher savings percentage compounds into a massive $2,238,235. Because it is housed entirely within a Roth structure, the worker keeps every single penny, proving that marginal increases in workplace contribution percentages today can create exponentially larger, tax-sheltered wealth gaps over the long term.Fidelity sees record 401(k) savings rates among all participantsLooking at the broader participant base, Fidelity found that total workplace retirement savings rates reached record levels in the first quarter. “Both 401(k) and 403(b) total savings rates reached record levels in Q1 2026,” Fidelity wrote.This milestone comes on the back of historical highs for individual worker deferrals combined with matching employer contributions. “The total savings rate reached 14.4% for 401(k) savers and 12% for 403(b) participants,” the report states.The firm noted that individual actions combined with company benefits are putting workers closer to major financial benchmarks. “This is a result of an average employee savings rate of 9.6% – the highest on record – and average employer contribution rate of 4.8%,” according to the report.Fidelity further explained how these two dynamics interact to benefit savers. “Together, these are moving closer to Fidelity’s suggested combined savings rate of 15%,” the report states.The average cash injection coming from companies also hit a historical high mark during the period. “The average quarterly employer contribution amount reached a record level of $2,080, surpassing the previous high of $2,020 a year ago,” according to the report.

The surprising velocity of the shift toward Roth accounts for retirement, including 401(k)s, is found in a report from Fidelity Investments.Shutterstock

Fidelity reports gains in overall IRA activityOverall IRA activity saw substantial gains, with a record number of individual accounts receiving money. “IRAs saw strong results in Q1, including record-high contributions (up 29% year-over-year) and a record-high number of Fidelity IRA account holders contributing to accounts (up 28% year-over-year),” Fidelity wrote.Despite economic uncertainty during the quarter, individual participants routinely boosted their deferrals, a movement the firm attributed to structured plan design. “Despite economic uncertainty in Q1, nearly one in five (18%) 401(k) participants increased their savings rate – in large part due to auto increases – while only 5.7% made a change to their asset allocation (down from 6% a year ago),” the report notes.Sharon Brovelli, president of workplace investing at Fidelity Investments, emphasized that these numbers reflect a highly disciplined approach by individual savers. “Retirement savers started the year strong with record-high savings rates and contributions, reflecting the long-term approach they’re taking with retirement preparedness,” Brovelli stated.“While it can be tempting to make changes to retirement savings during market volatility, it is positive to see participants stay the course with their contributions – an approach that will strengthen their outcomes as retirement nears,” she added.Note: This piece of financial journalism is for educational purposes only and not for formal tax or investment advice.Related: Dave Ramsey raises red flag on major IRA, Roth IRA decision

Honeywell Aerospace (HONA) shares rose Monday in their Nasdaq debut, opening above their when-issued closing price and trading as high as $238.19 as investors got their first look at a newly independent aerospace and defense company separated from Honeywell.Honeywell Aerospace had closed at $221.01 last week in when-issued trading, according to Yahoo Finance.The debut is not a traditional initial public offering. Honeywell Aerospace began regular-way trading after Honeywell completed the spinoff of its aerospace business, one piece of a broader plan to split the industrial conglomerate into more focused companies.Honeywell Aerospace gives investors a new pure-play stockHoneywell Aerospace’s debut gives investors a more direct way to own a business tied to commercial aviation, defense, and space systems.The new company makes aircraft engines, parts, electronics, and systems used in aircraft and spacecraft. Its customers include planemakers Boeing (BA) and Airbus (EADSY), airlines, and the U.S. military, according to Reuters.The spinoff also changes how investors view Honeywell. Honeywell Technologies, the remaining automation-focused company, continues to trade under the ticker HON, while Honeywell Aerospace now trades separately under HONA.Honeywell shareholders received one share of Honeywell Aerospace common stock for every two shares of Honeywell common stock they held as of the record date.Related: Honeywell approves aerospace spinoff to launch 2 public companiesThe split follows a broader pattern among industrial companies: breaking large conglomerates into more focused businesses that may be easier for Wall Street to value.Reuters reported that Honeywell Aerospace follows GE Aerospace in that pattern. GE Aerospace became a stand-alone company after General Electric completed its own breakup, giving investors a cleaner aerospace stock to evaluate.That comparison helps explain why Honeywell Aerospace’s first trading day matters. The stock’s first-day move was encouraging, but the longer test is whether Wall Street values the company more clearly as a stand-alone aerospace and defense business. One way to assess the story is by looking at the company’s growth targets, backlog, and cash flow expectations.Key numbers for Honeywell Aerospace investors7%: Honeywell Aerospace’s rise in its Nasdaq debut$236.78: The stock’s opening price Monday7% to 9%: The company’s expected sales growth this year$4.6 billion to $4.7 billion: Expected 2026 earnings before interest and taxes$1 billion to $1.5 billion: Expected free cash flow in the second half of the year$6.5 billion: The company’s adjusted earnings target for 2030$19 billion: Honeywell Aerospace’s backlog20%: The backlog’s year-over-year growthThose targets give investors a starting point for judging the new company. They also show that the market debut is only the first step.Honeywell Aerospace still has to prove executionThe newly independent company is entering the market with demand drivers in its favor, including commercial aviation, aircraft aftermarket work, defense spending, and space systems. But it also has to prove that focus can fix execution issues.Under legacy Honeywell reporting, HONA significantly underperformed its peers in aftermarket growth, largely due to execution and supply chain challenges.A focused aerospace company may be easier for investors to understand than a large industrial conglomerate. But Honeywell Aerospace still has to show that it can turn backlog and demand into sales growth, cash flow, and margin improvement.Supply chain performance will be one major area to watch.Reuters reported earlier in June that Honeywell Aerospace plans to prioritize investment in production capacity and its supply chain over dividends or share buybacks. CEO Jim Currier told Reuters that the company expects those investments to help drive organic growth.Honeywell Aerospace will also have defense-related demand to support its growth. Reuters reported that the company will make a $500 million investment as part of a March agreement with the Pentagon, RTX (RTX), and Lockheed Martin (LMT) to increase production of precision-guided missiles and munitions.More Tech:Microsoft CEO sends a blunt warning on AI and the tech ecosystemAmazon CEO just made things uncomfortable for AnthropicMicrosoft has bad news for a key AI partnerHoneywell Aerospace starts with strong demand, a large backlog, and a cleaner structure after the spinoff. Investors will want to see whether those advantages can translate into consistent growth after the first day of trading.

JHVEPhoto / Getty Images

Honeywell Aerospace gets its first market testHoneywell Aerospace’s Nasdaq debut shows that investors are interested in a more focused aerospace and defense story.The first-day gain gives the company a strong start, but the harder test comes after the market debut.Investors will be watching whether Honeywell Aerospace can improve supply chain performance, convert backlog into revenue, and turn its more focused structure into stronger cash flow.For now, Wall Street has a new aerospace stock to evaluate. The next question is whether Honeywell Aerospace can make its independence pay off.Related: History of Honeywell: Company timeline, milestones & facts

The Bank for International Settlements published its Annual Economic Report on June 28, warning that the AI boom is becoming a source of financial instability. That alone is not surprising.What is surprising is the specific mechanism the BIS is worried about: not whether AI pays off, but who will take on the debt if it doesn’t.The BIS calls itself the central bank for central banks. When it flags a funding structure as a systemic risk, regulators tend to listen.What is an AI bubble?An “AI bubble” does not mean AI stops being useful. It means the money funding AI infrastructure grows faster than the cash flow that infrastructure generates, and investors keep paying anyway.That gap is now measurable. According to a BIS bulletin published this year, AI hyperscalers have ramped up capital spending so sharply that free cash flow has recently lagged capital expenditures in absolute dollar terms.Related: The fuel crisis just exposed a major problem with green aviationThese firms historically ran with less debt than typical companies, funding growth from their own profits.That model is breaking. The BIS bulletin states plainly that the sheer scale of AI investment is testing the limits of what cash flow alone can support.How the financing quietly shifted from cash to debtWhen cash flow cannot keep up, companies borrow. Hyperscaler corporate bond issuance topped $100 billion in 2025, according to the BIS Quarterly Review, mostly in long-term debt locking in funding for multi-year data center build-outs.That number matters because credit default swap spreads on these bonds also rose during the same period, the BIS found, signaling that bond investors are pricing in more uncertainty about whether the projects will pay off.More Economy:Goldman Sachs doubles down on oil and economy message for 2026U.S. Economy: Moody’s Mark Zandi Warns Growth Is Below PotentialBofA sees new trends forming in the K-shaped economyThe bigger shift is what is happening off the balance sheet. Hyperscalers are increasingly using joint ventures and special-purpose vehicles, capitalized by private credit firms, to build data centers without the debt showing up on their own books, per BIS research.The debt does not disappear just because it is harder to see. Private credit funds originated more than $40 billion in loans to AI-related companies in 2025 alone, according to BIS data, a fivefold jump in a market with far less disclosure than public bond markets.

The BIS warns that AI infrastructure is increasingly financed through private credit and hedge funds, channels with less oversight than banks.Richard Newstead / Getty Images

The hidden loop of circular financingA related concern is circular financing, where chip and cloud giants take equity stakes in AI startups that then spend that same capital buying chips or compute from the investor, as Bloomberg has reported.The risk is that these deals can inflate the appearance of demand. Revenue looks real on paper, but a chunk of it is the investor’s own money moving through one company and back into another.Why this structure worries central bankersBanks are regulated, monitored, and required to hold capital against losses. Hedge funds and private credit vehicles are not subject to the same oversight, which is exactly the BIS’s concern.BIS General Manager Pablo Hernandez de Cos told reporters the message is one of “urgency,” because today’s debt is increasingly financed through what the BIS terms non-bank financial intermediaries.Frank Smets, the BIS’s acting head of monetary and economic department, separately warned that record sovereign debt combined with leveragedhedge fund activity in bond markets has created what he called a “sovereign-financial stability nexus,” raising the odds of sharp, sudden swings in government bond prices.Zhang Tao, the BIS’s Asia-Pacific representative, made the comparison explicit in remarks to the South China Morning Post: if AI sentiment turns, the interconnectedness of these non-bank channels could make a correction move faster than the 2008 banking crisis did.For investors, the takeaway is not that AI demand is fake. It is that the speed of any repricing now depends on plumbing most people never look at.Here are four numbers worth watching:Hyperscaler bond issuance crossed $100 billion in 2025, locking in long-term debt against AI infrastructure that has not yet proven its return.Private credit originations to AI companies exceeded $40 billion in 2025, a market with limited public disclosure compares to bonds.Credit default swap spreads on hyperscaler debt rose through the review period, a market signal that bond investors are pricing in more risk.The BIS explicitly urged policymakers to extend oversight beyond traditional banking, a direct nod to private credit’s growing role.The bigger patternEvery infrastructure boom eventually outgrows the balance sheets that started it, from railroads to telecom fiber to housing.What separates this one is the BIS naming the exact channel, non-bank private credit, that previous crises took years to identify after the damage was done.The central bank of central banks rarely names a specific financing structure as a watch item this early.The open question is whether regulators move fast enough to add oversight before the debt comes due, or whether they are once again diagnosing a bubble only after the air starts leaking out.Related: JPMorgan Chase pushes fraud division layoffs, despite rising revenues

Many potential homebuyers are discouraged as mortgage rates remain in the 6.5% range, and inflation data doesn’t indicate much relief for rates in the near future.However, in my years of reporting on the real estate market, I’ve seen how multiple factors impact home affordability — not just mortgage rates. We should also consider demand, inventory, speed of sales, and home prices.Real estate technology company Redfin addressed most of these issues by releasing housing market data for the four-week period of May 25-June 21.The Redfin Weekly Housing Market Tracker revealed interesting numbers, and some may seem alarming to homebuyers. But historical data put the current situation in perspective.Annual housing activity is up slightlyThe Housing Market Tracker shows that weekly pending home sales decreased slightly during this four-week period — just 0.1% — but increased year over year by 4.2%.The trend with active listings is similar. The number of active home listings in this four-week period is 1,485,686 nationwide. The week-over-week numbers are down, but it’s an annual increase of 0.4%.There are probably two main reasons yearly active home listings have inched up. First, the number of new listings has increased ever so slightly from the same four-week period in 2025.Related: 6.5% mortgage rates give homebuyers unexpected opportunitySecond, the median number of days homes were on the market during this period was 39 days. That’s one day longer than this time last year.I’m not surprised that homes are taking a little longer to sell in 2026. Many potential homebuyers are holding off as mortgage rates have been hovering around 6.5% for weeks. When fewer people buy, houses will naturally stay on the market for longer.Frankly, I am a little surprised that the median days on the market is only one more day than this time last year. While the 2026 homebuying season may not be experiencing the great comeback so many had expected, it also doesn’t seem to be spiraling downward. The home sales data are relatively flat.

Homes are staying on the market a little longer in 2026.Anchiy / Getty Images

Median home price hits record highThe median home sale price has increased by 2.5% to $408,814 — a record high, according to Redfin.Initially, it looks odd that prices are at an all-time high when other data haven’t moved much year over year, and buyer demand is slow. But there are two main things to keep in mind as we consider this statistic.First, home prices increase over time. There have been exceptions, such as when mortgage rates skyrocketed in 2023 after hitting all-time lows during the Covid pandemic. But in general, we can expect home values to grow.More Housing Market:Americans face dilemma after housing market newsMortgage rate outlook shifts after inflation updateZillow releases crucial new housing market predictionSecond, a 2.5% annual increase isn’t too bad (relatively speaking). Yes, the annual price growth for the same period in 2025 was just 1.3%. But if we rewind a few years, Redfin data show that yearly price growth was 13.8% in 2022 and 23.6% in 2021. That was when American families and investors alike were trying to buy up homes quickly when rates were in the 3% range.So, the current growth rate isn’t a huge problem. But the Covid years have had a long-lasting effect on the housing market, resulting in today’s median home sale price being the highest on record.In the four-week period from the end of 2019 to the beginning of 2020, the median sale price was just $258,500. This means national home prices have increased by more than 36% since the beginning of the pandemic.Key takeaways from Redfin’s dataThe U.S. is a buyer’s market. Sluggish housing activity, such as more active listings and longer time on the market, indicate that America is no longer a seller’s market. Homebuyers have more power now.Home prices are mainly high due to the early 2020s. Sale prices spiked during the Covid pandemic, which has left the U.S. housing market in a tough spot today. But recent sale prices are only up by 2.5%, so as far as costs go, it isn’t necessarily a bad time to buy. Prices will probably only continue to inch up.The median home price is at a record high. Even though the high price of $408,814 is due to volatile activity in years past, not current spikes, you should still consider today’s high prices when deciding whether you can comfortably afford to buy a home.Median sales price depends on where you live. Redfin found that in the 50 largest U.S. metros, those with the largest sale price increases were San Francisco (11.5%) and Detroit (9.7%). Those with the lowest were San Jose (-6.2%) and Seattle (-4.8).
Source: Redfin
Related: Berkshire Hathaway says to ignore this home-buying red flag

It’s been a while since consumers across America started cutting back on discretionary spending to cope with rising inflation. A March YouGov report reveals that a financial outlook strongly shapes intentions to reduce spending. For example, it explains that consumers who expect their financial situation to worsen are more likely to cut back on clothing purchases.The U.S. Department of Commerce also noted that clothing store sales dropped another 0.7% month over month at the end of December 2025.I recently reported how WH Smith, owner of several Las Vegas Strip clothing stores, including the Marshall Rousso and Misura brands, is quietly shutting down 26 retail locations. The ongoing decline in Las Vegas tourism, with visitors gambling more and shopping less, has left many high-end resort boutiques feeling squeezed.However, WH Smith’s regulatory filings reveal a much bigger move: a full-scale continental retreat, triggered by a multi-million-dollar corporate scandal.WH Smith plans to exit North American fashion Within the full WH Smith/MRG fashion portfolio on the Strip, the main apparel brands include Marshall Rousso and Misura, as well as Paradiso Carina and The Dean. Yet the company is closing all of its fashion stores on the Las Vegas Strip due to declining sales, and the corporate giant even plans to exit the North American fashion and specialty-store market entirely. According to the company’s official 2025 Preliminary Results Announcement on the London Stock Exchange, the retailer is completely abandoning its resort apparel formats to execute an enhanced focus strictly on airport and travel convenience stalls.WH Smith also announced the following priorities to deliver profitable growth and enhanced return on capital: Expanding UK Travel essentials, health and beauty, and food-to-go offeringStrengthening focus on North America travel essentialsExiting North American fashion and specialty stores and reviewing InMotion North America portfolioStrengthening core ROW markets, driving new growth through franchise model, reviewing and exiting non-core markets
Source: WH Smith announcement  

Marshall Rousso and Misura owner plans to fully exit North American fashion. d3sign / Getty Images

Why WH Smith is exiting the U.S. entirely Weak sales are not the only reason for WH Smith’s North American retreat.An independent investigation conducted by Deloitte LLP revealed that the company’s North American division had been systematically overstating its supplier income and promotional rebate revenues. The official Deloitte Review indicates that the division ignored company rules for counting money received from suppliers, making it look as if the division was bringing in far more cash than it actually was. “The accounting treatment for supplier income adopted by the North America division was not consistent with the Group’s stated accounting policy and consequently was not consistent with the requirements of the relevant accounting standards,” reads the document. Because of overreporting the income in the past, the company must now go back and fix the financial records for previous years. The cash from the suppliers does exist, but the U.S. office recorded supplier income earlier than permitted under accounting policy, reveals the review document. “This is an extremely serious matter that has had the Board’s full attention, and we sincerely apologise for the shortcomings identified. While the issues identified arose in our North America division, we recognise the importance of strengthening controls, governance and reporting procedures across the Group,” stated Annette Court, chair of WH Smith PLC. When the news broke, the company’s stock suffered a 42% single-day crash, PublishersLunch reported, instantly vaporizing roughly £600 million ($760+ million) in total market value.Surprisingly, the multi-million-dollar discrepancy wasn’t caught by the company’s official gatekeepers. Global accounting giant PricewaterhouseCoopers (PwC) had been auditing the firm’s books since 2015 and repeatedly signed off on the inflated figures. The accounting errors were revealed by internal finance team members who officially blew the whistle. The Financial Reporting Council (FRC) has also launched an investigation into PwC’s audit of WH Smith. Why did the WH Smith accounting error occur, and how does it affect profits?  The Deloitte Review said the multi-million dollar mistake happened due to strong pressure to hit financial targets and inadequate supervision of the U.S. office. “The North America supplier income issue has arisen against a backdrop of a target-driven performance culture and decentralised divisional structure combined with a limited level of Group oversight of the finance processes in North America,” reads the document. Related: Outdoor retail giant closes 59 stores in Chapter 11 bankruptcyThe mistake affected WH Smith’s true profits. While investors and the stock market projected that the North American division would report a massive £55 million ($72.5 million) profit, the company announced a significant revision. “In North America, Headline trading profit is expected to be in the range of £5m-£15m, down from revised expectation of around £25m announced on 21 August 2025 and previous market expectations of £55m,” the company stated. As a result of the review, the company expects to incur fees of up to £10m within non-underlying costs in FY25. WH Smith CEO steps down as company recovers “overpaid bonuses”The WH Smith scandal led to CEO Carl Cowling stepping down. The U.K.’s Financial Conduct Authority (FCA) also launched a formal enforcement investigation over possible breaches of accounting rules by the company’s North America division. Additionally, the board is working on recovering “overpaid bonuses from former executive directors following the restatement of profits in the financial years ended 31 August 2023 and 31 August 2024.” Meanwhile, on April 7, 2026, WH Smith confirmed in a filing that instead of hiring a traditional group CEO, shareholders approved Leo Quinn’s appointment as the company’s executive chair. Which stores are closing? The company didn’t specify which stores are affected by these closures. TheStreet previously reached out to the company for more details, but WH Smith declined to comment. WH Smith’s fashion brands: Marshall Rousso: Offers a collection of women’s lifestyle fashion apparel, including handbags, jewelry, and shoes.Misura: A contemporary men’s apparel and lifestyle boutique with shops located inside luxury casino resorts in Las Vegas.Bella Scarpa: Italian for “beautiful shoe,” Bella Scarpa is “an elegant boutique catering to women who seek a feminine, sexy style with bold panache.” The Dean: Includes men’s fashion and other products from popular brands such as Boss, Herschel, Kiehl’s, Mizzen + Main, Shinola, Tumi, and Vince Camuto.@ ease: Offers athleisure apparel and accessories with collections from Puma, Prana, DYI, Shape, and Marmot.Aka: Men’s apparel spans lifestyle brands from Rock Revival and Hugo Boss to Tommy Bahama and Bugatchi.Carina: Chic apparel featuring designers such as Joseph Ribkoff,Miss Me, and Alberto Makal.Paradiso: The luxurious fashion chain offers “glamorous women’s wear, shoes and accessories from an enviable list of designers.” O Man: Offers a lifestyle boutique for men.
Source: WH Smith North America
Related: Mall footwear retailer closes 82 stores as shoppers trade up

The Supreme Court reinforced the Federal Reserve’s independence from interference from the White House in a historic 5-4 ruling that protects Fed governors from being fired by the president “for cause” without proof of wrongdoing.Ironically, the Fed protection came the same day as the high court in a separate ruling expanded President Donald Trump’s power to fire top government officials at regulatory agencies like the Securities and Exchange Commission in a blockbuster ruling that overturns a 91-year-old precedent.The high court said June 29 that Fed Governor Lisa Cook can stay in her job for now while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. The majority of justices faulted Trump for not giving Cook notice and a chance to be heard before trying to remove her from her position.Trump attempted to fire Cook last year, citing unproven allegations of mortgage fraud that occurred before her appointment to the central bank in May 2022. Those allegations were brought by Trump loyalist William Pulte, the head of the federal housing agencies now also serving as Acting Director of National Intelligence.Cook said in a statement June 29 that the court case was never about mortgage documents that she signed years before joining the Fed Board of Governors.“It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people.’’ Cook said.Trump cited firing Cook ‘for cause.’ The court disagreed. Two lower federal courts blocked her removal, finding she made a strong showing that the Federal Reserve Act allows removal only “for cause” tied to misconduct while in office.The Trump administration filed an emergency application with the Supreme Court asking it to allow the removal immediately so that Cook would no longer remain a governor.The Fed majority opinion, written by Chief Justice John Roberts, found the president does not have the power to remove a Fed governor under the “for cause” standard in this scenario.Related: Supreme Court signals Fed independence in Cook firing lawsuitThe high court had temporarily allowed Cook to remain in her Fed role while the litigation continued, a case that Wall Street watched very closely.The Federal Reserve, in a statement last year, said it would abide by legal rulings. It declined to comment June 29. The ruling moves the Cook case back to the lower courts, which means the drama could continue for years. It also means the case could return to the Supreme Court at a later point, with Roberts leaving open the possibility of Trump “trying again” to fire Cook.

The Supreme Court reinforced the Federal Reserve’s independence from interference from the White House in a landmark 5-4 ruling.joe daniel price / Getty Images

Cook case mirrors Trump’s efforts to pressure Powell to cut interest ratesTrump’s efforts to fire Cook echoes his persistent past pressure on former Fed Chair Jerome Powell and challenges the political independence of the world’s largest central bank. Trump publicly berated Powell to cut interest rates drastically to influence monetary policy. Then, as I reported, after a two-hour emergency hearing on Jan. 21, the high court appeared likely to allow Cook to remain on the Fed board in a move that would restrict Trump’s power over the central bank.Both liberal and conservative justices seemed skeptical about the president’s bid to fire Cook for cause over allegations that she lied about her primary residence on mortgage paperwork.Cook denies unproven mortgage-fraud allegations Cook denies the mortgage-fraud allegations, and she has never been charged or convicted. She said Trump’s aim is to exert more control over monetary policy and lower interest rates.Cook said the high court’s ruling affirms the principle “that the Federal Reserve must make all its policy decisions guided by evidence and independent judgment, free from political interference.”More Federal Reserve:Inflation flips Wall Street’s Fed interest-rate betsWarsh’s AI task force could reshape Fed economic modelsFed Warsh era kicks off with big surprise no one saw comingCook’s attorneys Abbe D. Lowell and Norm Eisen said in a statement that the decision was a “victory for the rule of law and for every American who depends on a stable economy.”Her legal team described the mortgage discrepancies as clerical errors.”President Trump tried to remove Governor Cook to pressure the Federal Reserve into bending its monetary policy decisions to his political will,’’ the attorneys said.Trump ally Pulte dropped bombshell mortgage fraud allegations Cook, one of the seven members of the Fed Board of Governors, is the first black woman to serve as a Federal Reserve governor. A Biden appointee, her term runs to 2038.Pulte released bombshell allegations against Cook in August 2025, alleging she falsified records to get more favorable mortgage rates on properties in Michigan, Georgia and Massachusetts before she was appointed to the Fed by President Joseph Biden.Trump responded by firing Cook “for cause,” the only way a sitting Fed governor may be removed.Trump, in a TruthSocial post, described the Supreme Court ruling as a “strictly procedural basis,’’ adding “we will take appropriate action immediately to make sure that someone who has committed wrongdoing will not be making vital decisions concerning the Welfare of the United States of America!”Pulte, meanwhile, doubled down on his allegations against Cook in a one-sentence social media post: “As I have repeatedly said, I believe Lisa Cook will be indicted for mortgage fraud.”Supreme Court decision ruled Cook denied ability to respond to chargesThe court’s majority ruling said Trump failed to give Cook ample opportunity to respond to the charges against her before he tried to fire her.“The Court decides this application on the narrow ground that the president failed to afford Cook the procedural protections to which she was entitled by statute. Without such protections, she could not properly dispute the charges the president laid against her,” the majority justices said.Justice Brett M. Kavanaugh wrote in a concurring opinion that “today’s interim ruling does not decide whether the president may lawfully remove Governor Cook for cause.” The four dissenting high court’s conservative justices criticized their colleagues’ decision, cautioning that the majority had decided the case prematurely rather than allowing it to play out in the lower courts.Lev Menand, a Columbia University law professor who studies the Fed and filed a brief opposing the firing, told Bloomberg that the ruling “is about the best outcome that the Federal Reserve and Lisa Cook could have hoped for at this stage of the litigation.’’ “But it is not likely to put an end to the president’s efforts to remove Lisa Cook,’’ he said.Why the Supreme Court ruling strengthens Kevin Warsh’s Fed The Wall Street Journal reported that the June 29 decision gives new Fed Chair Kevin Warsh more room to operate independently of Trump who viciously attacked Powell personally and professionally to lower the benchmark Federal Funds Rate.“The more political support the institution, and therefore Warsh, enjoys outside the Oval Office, the better,” said Mark Spindel, an investment manager and co-author of a history of the Fed’s relationship with Congress and the White House. “Enabling the president to repopulate the board with loyalists opens up all sorts of cans of worms. It would upend Warsh’s ability to focus on the mandate, the committee and his legacy,’’ Spindel told the Journal.“The idea that a president can trump up charges and fire governors on ticky-tack grounds, and then put a bunch of real sock puppets around Warsh—how does Warsh manage the institution then?” Spindel said.  Related: Jerome Powell breaks his silence with a warning on the Fed

Palantir (PLTR) stock has effectively gone from AI favorite to AI laggard.Though we saw a resurgence late last week, shares are down seven straight sessions and remain down 37% in 2026, as investors fret over the stock’s valuation and the competitive edge it may be harder to defend.Hence, the market is treating Palantir with caution. UBS is taking the other side.After recent meetings with top executives and Palantir’s latest AIPCon event, 5-star analyst Karl Keirstead came away with a more bullish read than the recent stock action suggests. For perspective, Keirstead’s 5-star rating from TipRanks ranks him No. 542 among 12,331 Wall Street analysts and No. 1,294 among 28,973 experts. His calls show a 61% success rate, with 251 of 411 ratings profitable, and an average return of 13% per rating, adding weight to his Palantir view. Kierstead isn’t ignoring the debate over AI competition, but he appears far less worried than the market does.

UBS says investors may be misreading Palantir’s AI moat and valuationKevin Dietsch/Getty Images

What UBS says investors are missing about Palantir stockUBS analyst Karl Keirstead is pushing back against the stock market’s colder view of Palantir as worries mount over OpenAI, Anthropic, Databricks, and others moving deeper into the company’s territory.More AI:Goldman Sachs has blunt message for AI stock investorsMicrosoft CEO sends a blunt warning on AI and the tech ecosystemThe next AI infrastructure race has nothing to do with chipsKeirstead sees that fear as incomplete. “At 46x our 2027E FCF, we believe that Palantir shares are undervalued relative to medium-term growth,” he said, pointing to an estimated 3-year CAGR of about 55% and high profitability.According to Seeking Alpha, Palantir’s profitability profile looks pristine to say the least. Its 84% gross margin is far above the sector median of around 50%, while its 44% net income margin sharply outpaces peers. Just as important, Palantir’s 34% levered free cash flow margin shows that its growth is converting efficiently into cash. At the heart of UBS’s argument is the idea that investors may be treating Palantir as just another AI software layer.After meetings with management and Palantir’s latest AIPCon, Keirstead highlighted the company’s “complexity and depth”, saying its operating system goes beyond LLM deployment, data ingestion, and semantic layers.According to him, no AIPCon customer said LLMs can currently replace Palantir for data workloads. A global systems-integration partner also said Palantir’s “action engine” gives it a “5-year moat”.Why Palantir’s AI moat is back in focusPalantir’s AI moat has been unshakeable over the years.What it has done so brilliantly is connect AI to messy real-world operations where decisions, permissions, workflows, and data quality matter.Front and center are its ontology layer and operating system, which help a company map how its business actually works, then let AI act within that map.The recent wins show why that matters. SAP expanded its work with Palantir in May to use AIP for AI-supported data migration, a painful enterprise problem where mistakes can prove to be incredibly costly. Palantir says its AIP tools helped move more than 20,000 SAP location records to S/4HANA in two weeks.The same pattern appears outside software. Reuters reported in January that Palantir signed a multi-year HD Hyundai deal worth hundreds of millions of dollars after its tools helped lift shipbuilding production by about 30%.Government work adds another proof point. Reuters reported last year that the U.S. Army consolidated software contracts into a Palantir enterprise deal worth up to $10 billion over 10 years.So even though LLMs can be powerful, Palantir is selling the layer that turns AI into controlled decisions inside complex institutions.Wall Street price targets for Palantir stockWedbush’s Dan Ives has a $230 target, the most aggressive named bull case, tied to Palantir’s AI demand, according to Yahoo Finance.Citi’s Tyler Radke cut Palantir to $210 ahead of Q1 but kept a buy rating, citing broader software weakness, according to Investor’s Business Daily.Morgan Stanley kept an Equal Weight rating and $205 target, balancing AI upside against valuation risk, according to TheStreet.MarketBeat puts Palantir’s average target at $192.76, with a high of $255 and a low of $90.
Sources: Yahoo Finance, Investor’s Business Daily, TheStreet, and MarketBeat.
Palantir’s chart is still in repair modeBarchart’s June 29 technical table shows Palantir stock is still looking to mount a snapback, but the trend is still damaged.The stock is down 25% over 20 days, 30% versus the 200-day period, and 34% year to date. Hence, the recent bounce hasn’t reversed the larger sell-off.The first level to watch is the 5-day moving average at $113. Holding above that would show short-term buyers are still defending the rebound. The bigger test is the 20-day average at $130.20, followed by the 50-day average at $136. A move back above those levels would make the recovery look more credible.Momentum is still weak. Relative strength sits between 39 and 46, while stochastic readings near 10% to 20% suggest the stock is beaten down but not yet out of the woods.Volatility is also high, with the average true range near 5.3%-5.9%, suggesting Palantir could keep swinging sharply before a clearer trend returns.Related: Chevron CFO reveals why gas prices are stuck

The money that does the most damage to a budget is rarely the money you notice leaving.Big purchases get scrutiny. You research the car, you sleep on the vacation, you read the fine print before you sign the mortgage. Those decisions feel heavy, so you treat them with care.The small stuff gets a pass. A tap of a card here, a quick order there, a few dollars that never feel like a real choice. Most people budget around the large, visible expenses and assume the little ones are too small to matter.That assumption feels safe. It is also where a lot of financial progress quietly disappears, one forgettable purchase at a time.One of the most recognizable names in money just put a price on that blind spot, and the number is bigger than almost anyone would guess from how small it feels day to day. The warning is not about a luxury or a mistake. It is about a habit so ordinary that most people would swear they do not have it.That voice belongs to Dave Ramsey, and the math he posted is hard to shake once you see it.

Ramsey argues a single repeatable daily expense, not a big splurge, is where roughly $5,000 a year disappears.MoMo Productions / Getty Images

Why small daily spending slips past most budgetsTiny recurring purchases avoid detection because no single one ever feels like a decision worth tracking. Six dollars for coffee. Eleven for a delivered lunch. A quick add-to-cart while you are half paying attention. None of it trips the mental alarm that a four-figure expense would.More Personal Finance:Ramit Sethi’s 4-step plan to save money on car insuranceDave Ramsey’s 5 best car insurance tips for 2026Mortgage rate news lands Americans in strange situationTap-to-pay and one-click checkout make it worse by removing the friction that used to make you pause. You feel the sting of a $400 repair. You almost never feel the slow drip of three or four small buys a day.This is the same behavioral trap other money personalities keep returning to, including the money lessons a ‘Shark Tank’ investor lays out for everyday savers as TheStreet covered. The theme is consistent. The damage is in the routine, not the rare.Related: Dave Ramsey raises red flag on major IRA, Roth IRA decisionHow Dave Ramsey turns $13.70 a day into $5,000Here is the line that does the work. Ramsey wrote that you can “waste $5,000 a year” simply by spending “$13.70 each day on something you don’t need,” according to his account on X.The arithmetic is the whole argument. Spend $13.70 a day for a full year and you reach $5,000.50. That is roughly $96 a week and about $411 a month walking out the door with nothing to show for it.Ramsey is not telling anyone to live joylessly. His point is intention. Money that leaves on autopilot is money you never actually chose to spend, and choosing is the entire game.What makes the figure sting is what that same $5,000 could become if you sent it somewhere productive instead. So I ran the numbers myself.When I put $5,000 a year into a basic compounding model at a conservative 7% annual return, the daily-coffee money stops looking trivial fast:Spending $13.70 a day totals $5,000.50 across a 365-day year, which my own calculation confirms against Ramsey’s figure.Invested at 7% a year, that $5,000 grows to about $69,000 in 10 years, based on my compounding analysis.Stretched across a 30-year working career, the same habit redirected into investments reaches roughly $472,000, according to my analysis.Only 47% of Americans say they have enough cash to cover a $1,000 emergency, according to Bankrate’s 2026 Emergency Savings Report.The typical household that does keep an emergency fund holds a median of just $5,000, a U.S. News survey found.That last pairing is the part that stays with me. The amount Ramsey says you can fritter away in a single year is the same size as the entire emergency cushion most savers have managed to build.Why an extra $5,000 a year matters right nowThe timing is what gives this old message new teeth. Households are running thinner than they have in years.More than half of Americans, 54%, say inflation is causing them to save less for emergencies, according to Bankrate. “We are essentially a paycheck-to-paycheck nation,” wrote Bankrate senior economic analyst Mark Hamrick in the report.A separate read of the numbers is just as stark. Roughly 43% of adults could not pay a surprise $1,000 expense from savings, a U.S. News survey found, and the median rainy-day balance has been sliding, not growing.What jumped out at me digging through that data is the cruelty of the gap. The people most exposed to a financial shock are often the same ones leaking $13.70 a day into nothing, because small convenience spending is hardest to cut when you are tired, stretched, and short on time. None of this requires a vow of poverty. It requires noticing.Track one ordinary week of spending and the $13.70 tends to reveal itself, usually hiding in two or three habits you could trim without feeling deprived. Redirect even half of it and the question stops being what you are giving up. It becomes what that money turns into while you sleep, year after year, in an account that finally works for you instead of the other way around.Related: Dave Ramsey sends message about mortgage payments