Author: Editor
As Wall Street has poured money into technology budgets and become major players in patents and research, it’s also become a destination for technologists to work — rivaling even Silicon Valley.This as-told-to essay is based on a conversation with Melissa Goldman, a partner and tech leader at Goldman Sachs. She started her career 30 years ago at Goldman Sachs as an analyst and worked her way to managing director before departing for the rival firm JPMorgan Chase, where she helped lead the corporate tech division as a chief information officer.Goldman joined Google in 2022 as a vice president and global…
The Ford display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCDETROIT — Ford Motor beat Wall Street’s first-quarter expectations, but suspended its 2025 financial guidance amid an expected $2.5 billion impact this year from President Donald Trump’s tariffs.The Detroit automaker said it expects to offset $1 billion of those costs through remediation actions as well as volume and pricing expectations for a total impact of $1.5 billion in 2025.Ford cited “near-term risks, especially the potential for industrywide supply chain disruption impacting production” and the potential for future or increased tariffs in the U.S.,…
The entrance of the Skechers retail store at the Barton Creek Square Mall on July 16, 2024 in Austin, Texas.Brandon Bell | Getty ImagesFootwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers closed up more than 24% Monday after the transaction was announced.”With a proven track-record, Skechers is entering…
Enjoy complimentary access to top ideas and insights — selected by our editors. Tax season usually marks the busiest time of the year for IRS professionals, but for the 30,000 staff who have accepted buyouts or been laid off by the agency this year, the calendar has been painfully clear. Higher-ups have not been immune to the upheaval, with four IRS commissioners and multiple unit chiefs departing. Michael Faulkender, former deputy secretary of the Treasury, was announced as the newest acting commissioner on April 18 — replacing a predecessor who had been in place for less than a week.”The fight against…
Being your own boss sounds great—until you realize the boss never clocks out.Young people have been flocking to small business ownership, which has driven up demand for search funds, a targeted form of private equity where one or two entrepreneurs search for a small business to run. The trend is only expected to continue as tariff uncertainty casts a long cloud over industries ranging from private equity to consulting to technology.To help understand the pros and cons of running a small business, Business Insider spoke to Chad Howard, an entrepreneur who quit his corporate job to start Halftime Rentals, a…
HONG KONG (AP) — Oil prices fell more than $2 a barrel early Monday after the OPEC+ group of oil producing nations said it plans to increase output. U.S. futures fell U.S. benchmark crude oil sank $2.21 or 3.8% to $56.08 per barrel in electronic trading on the New York Mercantile Exchange.Brent crude, the international standard, lost $2.14 to $59.15 per barrel.During the weekend, the OPEC+ group of eight nations announced it will raised its output by 411,000 barrels per day as of June 1, stepping up production increases. The group said strong fundamentals were behind the decision, though analysts…
Wesley Stanovsek was a dream hire for the IRS in 2024.With $80 billion in new funding from Congress, the IRS went shopping for young, tech savvy accountants and engineers who could deconstruct the complex returns of the wealthy and private companies. Stanovsek, based in Columbus, Ohio, specialized in S-corps, trusts and partnerships before getting hired by the IRS’s High Wealth division.In February he was fired, along with other IRS agents who were considered “probationary” since they had been there less than a year. Stanovsek was working on three “enterprise” cases at the time — two involving partnerships and one involving…
President Donald Trump said Friday that he will revoke Harvard University’s tax-exempt status, the latest move in the escalating clash between the administration and the Ivy League school. “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Trump wrote in a post on Truth Social. The president had previously suggested the university should lose its tax-exempt status. His latest statement came after Harvard sued the administration over its decision to freeze more than $2 billion in funding to the Ivy League school. The administration claimed the university was refusing to follow the administration’s demands…
WASHINGTON — The Trump administration plans to eliminate the IRS’ Direct File program, an electronic system for filing tax returns directly to the agency for free, according to two people familiar with the decision.The program developed during Joe Biden’s presidency was credited by users with making tax filing easy, fast and economical. But Republican lawmakers and commercial tax preparation companies complained it was a waste of taxpayer money because free filing programs already exist, although they are hard to use.The program had been in limbo since the start of the Trump administration as Elon Musk and the Department of Government Efficiency have slashed their way through the…
There are no sure things on the Churchill Downs racetrack — and this year, there are few sure things around the track as well.Uncertainty over the economy due to President Donald Trump’s oscillating tariff policies looms large over America’s longest running sporting event and the most exciting two minutes in sports — the Kentucky Derby.The track itself has put some projects on hold.Follow along for live coverage of the Kentucky Derby“Uncertainty is a theme out there in the American economy, and that’s one we pay attention to,” said Bill Carstanjen, CEO of Churchill Downs. “So we did pause our $900 million…