Author: Editor

Patreon slashed its workforce by 20% last week — and wants its remaining staffers to come into the office more.The company informed workers that it is increasing its return-to-office (RTO) requirement from two to three days a week for staff who commute to Patreon’s three offices in New York City, San Francisco, and Porto, Portugal, a company spokesperson confirmed to Business Insider.Staffers at the company, which runs a platform where creators can sell memberships and offer subscriber-only perks to fans, learned of the change a day after a layoff round that affected 93 employees. The updated RTO policy will go into…

Rivian Automotive reduced its 2026 spending plans and slightly narrowed its previously forecasted losses this year as the company reported second-quarter results Thursday.The revised guidance now includes adjusted losses between $1.8 billion and $2 billion, down from $1.8 billion to $2.1 billion, and capital expenditures of $1.7 billion to $1.8 billion, down from $1.95 billion and $2.05 billion. It reconfirmed a previously raised delivery target of 65,000 to 70,000 vehicles to customers.Rivian said the $250 million reduction in capital spending at the mid-point was enabled by “project efficiencies and timing of spend,” which the automaker previously increased to allow for added…

Director Christopher Nolan, left, and cinematographer Hoyte van Hoytema with an Imax camera on the set of the film “The Odyssey.”Courtesy: Melinda Sue Gordon | Universal Studios”The Odyssey” continues.Universal and Imax have extended the availability of 70 mm screenings of Christopher Nolan’s retelling of Homer’s epic into mid-September, but that might not be enough to meet demand.Tickets are selling out as quickly as they are being released to the public as moviegoers seek to see Nolan’s film in the aspect ratio that it was shot in and on physical film. While Imax offers a variety of screen options, including digital…

Today, Jersey Mike’s moves from slinging subs to also slinging stock as it goes public at a roughly $7 billion valuation.The company’s newly available shares fell slightly in volatile early trading after pricing in the middle of the IPO range. The debut marks the culmination of a years-long process to grow the company’s value.It’s been 51 years since 17-year-old Peter Cancro took out a loan to buy the Jersey Shore sandwich shop where he worked, and not even two years since Blackstone acquired a controlling stake in the chain.In that short time, the world’s largest private equity investor has transformed…

Starbucks CEO Brian Niccol is ready for some fizz.The company is testing a carbonated version of its Refreshers, which are iced juice and tea drinks often mixed with fruit pieces, that have become one of Starbucks’ biggest beverage businesses since launching in 2012.”I’m really excited that we’re getting ready to go test sparkling. We’re calling it Spritzers,” he told investors on the company’s third quarter earnings call Wednesday. The company delivered net sales of $9.3 billion for the period, with global comparable sales growth of 7.9%.Of course, sparkling drinks have been a fast food chain staple since the beginning of…

Gianni Infantino, president of the Federation International Football Association (FIFA), at the Semafor World Economy Summit during the International Monetary Fund (IMF) and World Bank Spring meetings in Washington, DC, US, on Wednesday, April 15, 2026. Aaron Schwartz | Bloomberg | Getty ImagesEuropean soccer governing body UEFA said Thursday it will boycott FIFA competitions including the World Cup if the global organization goes through with its proposal to sell a stake to private investors. Following an emergency meeting, UEFA, which represents 55 of FIFA’s 211 member associations, called it “irresponsible and indefensible” for FIFA leadership to bring forth such a…

Shares of Jersey Mike’s closed down about 6% during trading on Thursday afternoon after the company made its public market debut on the New York Stock Exchange under the ticker “JMKE.”The stock opened at $21 per share, below its initial public offering pricing of $23 per share, at the midpoint of the expected range of $21 to $25 per share. Jersey Mike’s sold 43.5 million shares, raising about $1 billion and valuing the company at $7.3 billion. With those proceeds, the chain is now among the largest-ever initial fundraises for a restaurant IPO.Jersey Mike’s has nearly 3,300 locations, making it…

Reformation Inc. signage as traders work during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, US, on Thursday, July 30, 2026. Michael Nagle | Bloomberg | Getty ImagesWomen’s clothing retailer Reformation began trading on the New York Stock Exchange on Thursday, with the stock ending the day essentially unchanged after pricing its IPO at $15.The company, which is trading under the ticker symbol “REF,” is offering 14,062,500 shares, putting its IPO raise at $210.9 million.”Reformation is ready, and that is really the driving reason we’ve spent a lot of…

Although thrift stores can be a great place to find the perfect piece of furniture or decor, it’s also easy to waste money on low-quality items if you don’t know how to shop smart.So, Business Insider asked interior designers to share the mistakes they see people make when shopping at secondhand stores. Here’s what they said.Skipping great frames because of ugly art Many thrift-stores carry great frames.  Jessica Ruscello/Getty Images Cara Newhart, an interior designer and the host of the “Make Space” podcast, told BI that shoppers should never skip buying a high-quality frame just because the art isn’t their…

Even in a meltdown, Leopold Aschenbrenner was able to retain his best asset.The 25-year-old founder of artificial-intelligence-focused investor Situational Awareness was forced to sell a majority of his public equity holdings to Ken Griffin’s $71 billion hedge fund Citadel on Wednesday, several people familiar with the situation confirmed to Business Insider. Outlets, including the Financial Times, Wall Street Journal, and CNBC, had previously reported on the once-$20 billion fund’s rapid unwind.The people confirmed that Situational Awareness did not sell its private portfolio of AI companies, which includes a significant stake in Anthropic, which is expected to go public in the…