An Australian digital bank has collapsed, leaving 140 employees without a job and 6,000 customers racing to withdraw their money before next week.

Volt Bank announced on Wednesday it was closing its deposit taking business and will return its banking licence after it couldn't raise enough funds to stay afloat.

'Volt has made the difficult decision to close its deposit taking business and has commenced the process of returning all deposits to its account holders,' the neobank's website said.

“What did we get wrong? — Believing everyone would get vaccinated and the millions of people who dropped out of the labor force would come back and the wages wouldn’t be under such pressure.”

A disturbing report by Reuters, featuring interviews with more than a dozen chemical dealers, manufacturers, farmers, and weed specialists, indicates chemical shortages have disrupted U.S. growers’ production strategies and points to reduced harvests this season.

The level of shortages of farm-essential chemicals (e.g., fertilizer, weed-killer) is being described as “off the charts.”

Ernst & Young better have some "answers"...

It was reported this week that the massive audit firm was fined with a record $100 million fine after regulators found out that the company knew some of its auditors had been cheating on exams for "several years" - and did nothing to stop it. 

This week, the Securities and Exchange Commission said that a "significant number" of candidates cheated on the Certified Public Accountant test. The kicker? Most of the cheating was on the "ethics" portion of the exam...

Inflation held its position in May in a sign of its stubbornness despite efforts to reduce prices from four-decade high.

On Thursday, the Commerce Department released its latest reading for the Personal Consumption Expenditure (PCE) index that showed prices rose by 6.3% in May on a year-by-year basis.