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Jackson and Holmes reunited for their first project together since "Dawson's Creek" ended 23 years ago.

Kim said Xi’s visit “clearly demonstrates how unbreakable” the North Korean-China relationship is.

Sharon Stone said that HBO's controversial show "Euphoria" should be shown in America’s high schools and that parents "should have to see it."

Sharon Stone said that HBO's controversial show "Euphoria" should be shown in America’s high schools and that parents "should have to see it."

Two weeks ago, the reality stars were spotted fleeing the country ahead of part one of the highly anticipated Season 10 reunion airing on Bravo.

Two weeks ago, the reality stars were spotted fleeing the country ahead of part one of the highly anticipated Season 10 reunion airing on Bravo.

US Bankruptcy Filings Surge 7% YoY In May

Authored by Naveen Athrappully via The Epoch Times,

Total U.S. bankruptcy filings, which include filings made by both businesses and individuals, rose by 7 percent in May on a year-to-year basis.

A hiring sign at the Fashion Centre at Pentagon City shopping mall in Arlington, Va., on Jan 3, 2024. Madalina Vasiliu/The Epoch Times

Individual bankruptcy filings rose by 8 percent during the one-year period. While overall commercial filings were down marginally by 0.1 percent, bankruptcy filings made by small businesses jumped 36 percent, according to a June 5 statement from the American Bankruptcy Institute (ABI).

"The May data reflects a continued but measured uptick in bankruptcy activity, particularly among small businesses," said Michael Hunter, vice president of Epiq AACER, the company that provided the bankruptcy data.

"The trend highlights the cumulative impact of elevated interest rates, persistent inflation, and higher operating costs. As access to affordable credit remains constrained, more businesses and consumers are turning to restructuring tools to stabilize and reset financially."

The 12-month inflation rate has consistently remained above the 2 percent level over the past few years. In recent months, the rate has shot up since the Iran conflict after remaining subdued for some time.

In February, the inflation rate was 2.4 percent, which surged to 3.3 percent in March and 3.8 percent in April, according to data from the Bureau of Labor Statistics. Higher prices pose a challenge to business activities and consumer spending.

Meanwhile, the Federal Reserve's benchmark interest rate has remained elevated at 3.5 to 3.75 percent in recent months, with the central bank refusing to cut rates further. This contributes to keeping loan rates high, making credit expensive for businesses and individuals.

In May, commercial chapter 11 filings fell 7 percent from last year, ABI said in its latest statement. A Chapter 11 bankruptcy seeks to reorganize a company's debts, aiming to keep the business operational and, eventually, turn it solvent. This is the most common type of bankruptcy filing made by businesses.

The May decline in such filings bucks the persistent increase in such cases since the beginning of the year. In April, Chapter 11 filings rose 42 percent from a year ago. And during the first quarter of 2026, these filings rose 37 percent year over year.

Among companies that filed for bankruptcy last month is specialty material solutions provider Trinseo PLC. On May 26, the company announced it would commence Chapter 11 filings as part of a restructuring plan. The company said it expects the plan to cut down its debt by roughly $2 billion.

Earlier on May 6, pet food ingredient company Integrated Proteins, LLC, filed a voluntary petition for bankruptcy, citing estimated assets of $50 million to $100 million and liabilities of $100 million to $500 million.

US Business Situation

In a May 14 report, S&P Global warned that the trajectory of bankruptcy filings could increase over the coming months, citing "inflationary pressures, elevated fuel prices and other macroeconomic uncertainties, largely related to the Middle East war."

Andrew Glenn, managing partner at Glenn Agre Bergman & Fuentes, said the existing macroeconomic factors have "still not resulted in the next wave of big filings." The current period is the "calm before the storm" ahead of a potential barrage of commercial bankruptcy filings.

Meanwhile, sentiment among small business owners remains positive, with optimism in this group rising marginally in April, the National Federation of Independent Business said in a May 12 statement.

Financial services company ShareBuilder 401k said in a May 11 statement that, while owners are weighed down by inflation and labor shortages, they are adopting new strategies to grow their businesses.

A survey from the ShareBuilder 401k showed that 88 percent of owners took "decisive action" to counter inflation and labor challenges over the past year.

"Half of all small businesses (50 percent) have increased prices to protect margins, while others have turned to lower-cost vendors (23 percent)," the company said.

According to a June 3 report from S&P Global, four out of seven U.S. sectors reported an upturn in their business activity in May - healthcare, consumer goods, basic materials, and industrials. Financials, tech, and consumer services sectors registered declines.

On the employment front, the U.S. economy added 172,000 jobs in May, exceeding economists' expectations. The unemployment rate remains steady at 4.3 percent. However, the number of Americans filing for unemployment benefits hit a four-month high for the week ending May 30.

Meanwhile, the Dow Jones, which opened at around 49,832 on May 1, closed at about 51,032 on May 29, a jump of roughly 1,200 points.

The Trump administration has taken actions to help businesses acquire credit.

In March, the Small Business Administration (SBA) announced that small manufacturers will be eligible to secure loans with a 90 percent federal guarantee. This is expected to help such businesses get access to "long-term, affordable financing."

Last month, SBA announced that it will allow eligible borrowers to get up to $10 million in combined financing from 7(a) and 504 loan programs for businesses, double the earlier limit of $5 million.

"By decoupling 7(a) loan balances from the 504 program, the SBA is giving capital-intensive small businesses - including those in construction, logistics, energy, food production, and related industries - greater flexibility to pair long-term financing for real estate and equipment with working capital to support operations and expansion," the agency said.

Tyler Durden Mon, 06/08/2026 - 12:00

The Knicks' "others" have shown their value exponentially throughout this NBA Finals.

Here's how to save a few thousand dollars on Finals tickets today.

The reality star cheered on boyfriend Lewis Hamilton from the Ferrari paddock this weekend in a rotation of custom looks by the Italian fashion house.

The reality star cheered on boyfriend Lewis Hamilton from the Ferrari paddock this weekend in a rotation of custom looks by the Italian fashion house.

Actress Meg Ryan is giving Hamptons home buyers the opportunity to say, “I’ll have what she’s having.”

When in Rome, do as the Romans do — and look for gelato as far from the city center as possible. 

From Sting posing with a luggage cart a mini *NSYNC reunion, there was no shortage of standout moments.

From Sting posing with a luggage cart a mini *NSYNC reunion, there was no shortage of standout moments.

Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown

Website builder Wix announced an "organizational realignment" on Monday that will cut roughly 20% of its workforce, as the company warned of a sharper-than-expected slowdown in its Partners business.

The restructuring is designed to streamline operations, discontinue lower-priority initiatives, and reallocate resources toward Wix's core growth areas.

"The organizational realignment to streamline operations and reallocate resources to support the Company's top strategic priorities. This includes the scaling down and/or discontinuation of certain activities, initiatives, products, and subsidiaries," Wix wrote in a Form 6k filing earlier this morning.

As of 1Q26, Wix had 5,277 employees, so a 20% cut would represent about 1,055 layoffs.

Wix is a SaaS website builder that competes with platforms such as Shopify, Squarespace, GoDaddy, and WordPress-related services. There was no mention of whether AI-related efficiencies contributed to the white-collar layoffs.

The 6k filing noted that it expects 2026 free cash flow, excluding acquisition and restructuring costs, of about $420 million, roughly $20 million above its prior plan. This restructuring is a move to support profitability.

"While Wix Harmony and Base44 continue to perform as we expected when we issued guidance as part of the first quarter 2026 earnings release, the Company expects an approximately $50 million reduction in bookings and an approximately $25 million reduction in revenue in FY 2026 as a result of our organizational realignment as well as a more pronounced slowdown, beyond our previous expectations, in the growth of our Partners business during the second half of May and early June," the filing stated.

The company lowered its 2026 bookings growth outlook to the low-teens range from mid-teens, while revenue growth is now expected in the low- to mid-teens range, also down from mid-teens.

Cost savings from the labor restructuring are expected to offset the revenue hit. Wix sees about $70 million in incremental non-GAAP cost-of-revenue and operating-expense savings this year, with a full-year run-rate savings target of about $150 million, driven mainly by lower payroll and overhead.

Wix expects $30 million to $35 million in pre-tax restructuring charges, mostly related to cash severance and benefits, with most charges booked in the second quarter and cash payments made later this year.

Shares of Wix tumbled 10% in premarket trading. The stock is trading near 2017 lows.

Most Wall Street analysts are bullish on the stock. There are 12 "Buy" ratings, 8 "Neutral" ratings, and 1 "Sell."

The average 12-month price target for the stock is $84 per share.

Tyler Durden Mon, 06/08/2026 - 11:45

Inflation Expectations Dip, Driven By Lower Gas Prices, While Labor Market Prospects Worsen: NY Fed Survey

Ahead of Wednesday's CPI report which is expected to show a substantial rise in consumer prices, moments ago we got an early look into how consumers view inflation after the NY Fed's latest monthly survey of consumer expectations reported that inflation expectations at the one-year horizon dipped to 3.46% in May from 3.64% in April, easing from the highest print since September 2023. Inflation expectations were unchanged at 3.1% for the three-year-ahead horizon and also unchanged at 3.0% at the five-year-ahead horizon in May.

Median inflation uncertainty, or the uncertainty expressed regarding future inflation outcomes, increased at the one-year and three-year-ahead horizons and decreased at the five-year-ahead horizon. 

The drop in year-ahead expectations took place as 1-year gas inflation expectations extended its recent decline, sliding to 4.96% in May from 5.11% in April and from 9.42% in March, which had been the highest reading since March 2022.

Among other prices, home price growth expectations increased to highest since July 2022.

Food and rent price outlooks also increased while medical care and college eased (good luck).

Turning to the labor market, sentiment continued to deteriorate with job-loss fears rising and probability of quitting at a three-year high despite unemployment rate seen edging lower and expected earnings growth steady.

Respondents said the mean perceived probability of finding a job if one’s current job was lost decreased by 2.3% to 43.7%, remaining below its 12-month trailing average of 46.8% and marking the lowest reading since December 2025.

The mean perceived probability of losing one’s job in the next twelve months increased by 0.5% to 15.1%, above the series’ 12-month trailing average of 14.4%. Despite that, the expected quit rate - the probability of leaving one’s job voluntarily in the next year, usually a sign of confidence in the labor market - rose in May to the highest since February of 2023. The increase was broad-based across age, education and income groups, the report said. 

The report followed an unexpectedly strong employment report for May with job gains beating expectations. For Fed officials, the report put to rest for now concerns that the US labor market remained fragile and stoked worries over inflation. Policymakers’ preferred measure of inflation hit 3.8% in April, amid a spike in energy prices.

The New York Fed survey also reinforced other reports showing consumer sentiment is at record lows: the share of households who said their financial situation was worse than last year reached its highest level since January of 2023. More consumers also expected a deterioration in their finances in the year ahead.

Household finances outlook fell to lowest since Oct. 2022, with spending growth expected to moderate amid worsening credit access and delinquencies

The perceived probability of missing a minimum debt payment over the next three months rose by 1.2% points to 12.6%, staying below its 12-month trailing average of 12.9%. This increase was mostly driven by those with at most a high school degree and with annual household incomes below $100,000. 

Here are some more details from the report:

Inflation

• Median home price growth expectations increased by 0.5% point to 3.5%. This is the highest reading since July 2022. The increase was most pronounced for the West and Midwest Census regions. 
• Median year-ahead gas price growth expectations dropped by 0.1% point to 5.0%. Other commodity price change expectations increased by 0.6 percentage point for food to 5.8% and by 1.4 percentage points for rent to 7.4%, while they decreased by 0.7 percentage point for the cost of medical care to 8.9% and by 0.8 percentage point for the cost of a college education to 8.0%. 

Labor Market

• Median one-year-ahead earnings growth expectations remained stable at 7% in May, remaining slightly above their 12-month trailing average of 2.6%. 
• Mean unemployment expectations—or the mean probability that the U.S. unemployment rate will be higher one year from now—decreased by 0.4 percentage point to 43.2%, remaining above their 12-month trailing average of 41.1%. 
• The mean perceived probability of losing one’s job in the next 12 months increased by 0.5 percentage point to 15.1%, above the series’ 12-month trailing average of 14.4%. The mean probability of leaving one’s job voluntarily, or the expected quit rate, in the next 12 months increased by 2.6 percentage points to 20.8%, its highest level since February 2023. The increase was broad-based across age, education, and income groups. 
• The mean perceived probability of finding a job if one’s current job was lost decreased by 2.3 percentage points to 43.7%, remaining below its 12-month trailing average of 46.8% and marking the lowest reading since December 2025. 

Household Finance

• The median expected growth in household income remained unchanged at 2.8% in May 2026. 
• Median one-year-ahead nominal household spending growth expectations decreased by 0.4 percentage point to 5.0%, standing slightly above their trailing 12-month average of 4.9%. The decline was driven by respondents above age 60 and those with at most a high school degree and annual household incomes less than $50,000. 
• Perceptions of credit access compared to a year ago remained largely unchanged, with a greater share of households reporting that credit availability was equally easy or difficult. Expectations for future credit availability deteriorated, with a lower share of respondents expecting it will be easier to obtain credit in the year ahead. 
• The average perceived probability of missing a minimum debt payment over the next three months rose by 1.2 percentage points to 12.6%, staying below its 12-month trailing average of 12.9%. This increase was mostly driven by those with at most a high school degree and with annual household incomes below $100,000. 
• The median expectation regarding a year-ahead change in taxes at current income level decreased by 0.3 percentage point to 3.1%. 
• Median year-ahead expected growth in government debt decreased by 0.1 percentage point to 9.9%. 
• The mean perceived probability that the average interest rate on savings accounts will be higher in 12 months decreased by 2.1 percentage points to 24.6%. 
• Perceptions about households’ current financial situation compared to a year ago deteriorated, with a larger share of households reporting a worse financial situation, marking the highest reading since January 2023, and a slightly smaller share of households reporting a better financial situation. Year-ahead expectations about households’ financial situation also deteriorated, with an increase in the net share of households expecting a worse financial situation. The net share of households expecting a better versus worse financial situation in one year is at its lowest level since October 2022. 
• The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 0.4 percentage points to 38.0%. 

Source: NY Fed

Tyler Durden Mon, 06/08/2026 - 11:33

A personal assistant to Jeffrey Epstein has testified that she was “violently raped” by the notorious pedophile — and that he even managed to abuse her via Skype while he was serving time for sex crimes. Sarah Kellen – who was known as Epstein’s “lieutenant” and even named as a potential co-conspirator in his 2007...

Firms will be expected to activate built-in features to stop children accessing sexually explicit images.

Who doesn’t like a cheeky romantic comedy from across the pond?