Business News

Western Asset Management Co. finds itself at the center of renewed investor interest, despite a damaging fraud settlement that reshaped one of America’s most prominent fixed-income franchises. Closed-end bond funds managed by Western Asset Management, commonly known as Wamco, are trading at notable discounts, drawing attention from opportunistic fixed-income investors looking for value in troubled…

Legislation introduced by Sen. Ron Wyden would place a $5,000 annual cap on out-of-pocket spending for enrollees in traditional Medicare Parts A and B. Under the current system, Medicare enrollees are required to pay 20% of their covered medical costs after meeting deductibles, with no upper spending limit in place. That uncapped liability means a…

Financial advisors who work with high-net-worth clients consistently point to one habit that separates disciplined wealth builders from everyone else: the midyear check-in. As the calendar crosses the halfway point, it is a natural moment to assess whether your financial plan is still aligned with your goals and current circumstances. The wealthy rarely leave their…

Germany’s government-appointed pension commission released recommendations this week to gradually raise the retirement age to 70 by 2092, a move drawing global attention. The commission also recommended scrapping a rule that currently allows workers who have contributed 45 years to retire at 63 without financial penalties. Germany’s standard retirement age has already been rising and…

Medicare is opening access to popular GLP-1 weight-loss drugs for millions of older Americans starting July 1, 2026, marking a significant shift in federal health coverage. The initiative, announced by the Centers for Medicare and Medicaid Services, is a short-term pilot program known as the Medicare GLP-1 Bridge, running through December 31, 2027. Current federal…

Alzheimer’s disease has become the single most expensive illness in the United States, surpassing the combined costs of cancer and heart disease. The disease is projected to account for more than $350 billion, or roughly 8 percent of total U.S. healthcare spending, in costs to American society. Direct costs tied to Alzheimer’s and other dementias…

Millions of Americans are choosing to work during retirement, driven by longer lifespans, vanishing pensions, and shrinking savings accounts. Social Security’s retirement trust fund is now expected to become insolvent in 2032, one year sooner than program trustees forecast in 2025, adding urgency to retirement planning decisions. A rule called the Retirement Earnings Test, or…

One consumer’s experience at Walgreens has thrown a sharp spotlight on the staggering gap between insurance prices and prescription discount tools. The shopper needed to fill a 90-day supply of a generic drug that was not covered under their existing insurance plan. When they approached the pharmacy counter, Walgreens quoted a price of $618 for…

Last year, a reader wrote in responding to a prior column about whether Americans should claim Social Security early, citing widespread concerns about the program’s long-term solvency. The reader referenced multiple reports suggesting Social Security could run out of money by 2032, a timeline that has prompted many Americans to consider claiming benefits as soon…

The smart glasses market is accelerating rapidly, with shipments expected to exceed 10 million units in 2025 as major tech companies pour resources into the category. Tech giants have chased the smart glasses dream for over a decade, but early efforts like Google Glass sacrificed style for technology, leaving consumers unimpressed and unwilling to wear…