Saks Fifth Avenue filed for bankruptcy even though the global market for luxury retail is recovering.

Verizon said Thursday that it would begin issuing $20 credits to the accounts of customers affected by Wednesday’s nearly daylong cellular service problems

More than a third of consumers took on holiday debt in 2025, according to a recent survey, so financial educator Tiffany Aliche stops by TODAY with tips for getting back on track financially. Tips include freezing unnecessary spending for 30 days, moving from a snowball to an avalanche approach for paying down debt, creating a “life happens” buffer, and more.

Saks Global, the parent company of the eponymous retail giant as well as luxury department stores Neiman Marcus and Bergdorf Goodman, has filed for bankruptcy. It’s one of the largest retail collapses since the Covid pandemic, and casts further doubt over the future of luxury fashion. NBC News’ Christine Romans reports on the latest following the bankruptcy filing, and how people are reacting to the news. 

Verizon said Wednesday night that its wireless service was back online after having suffered an outage affecting cellular data and voice services for much of the day

The FBI searched the home of a Washington Post reporter Wednesday as part of an investigation into a government contractor who has been accused of illegally retaining classified materials, the newspaper confirmed.

The price of basic necessities rose in December, even as overall inflation held steady.

The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday

China had its biggest trade surplus ever last year at almost $1.2 trillion, according to data released Wednesday, defying tariffs President Donald Trump has imposed on the world’s second-largest economy as it sends more exports to other parts of the world.

President Donald Trump declared that “the Trump economic boom has officially begun” just hours after the Labor Department reported that consumer prices continued to tick upward.