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A Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California. Kevin Carter | Getty Images News | Getty ImagesSpirit Airlines’ future is hanging in the balance over the next week as President Donald Trump said the government could bail out the airline and the struggling discount carrier’s lenders are assessing a potential deal.”We’re thinking about doing it, helping them out, meaning bailing them out, or buying it,” Trump told reporters in the Oval Office on Thursday. “I’d love to be able to save those jobs. I’d love to…

Meta just told employees thousands of jobs are on the chopping block, leaving employees in a monthlong limbo before cuts hit. Inside the company, workers are bracing for what one called “28 days of hell,” flooding internal forums and posts with anxiety, dark humor, and questions as they wait to find out who’s out. Loading audio narration… Meta said on Thursday that it plans to eliminate around 10% of employees on May 20. It also plans to close 6,000 open roles.In a memo to staff, Meta’s chief people officer, Janelle Gale, said the layoffs are intended to “run the company…

When people see the White House for the first time in person, they often remark that it looks small from the outside.Matt Costello, chief education officer and director of the David M. Rubenstein National Center for White House History, told Business Insider that appearances can be deceiving.”There’s a lot more to the White House than meets the eye,” he said. “It has six floors, about 55,000 square feet. There are two sub-basements underneath the house that were part of the Truman renovation. And then, of course, you’ve got the Presidential Emergency Operations Center. So there’s a bigger apparatus, so to…

JPMorgan announced its newest class of managing directors earlier this week, elevating hundreds of employees across divisions to the firm’s highest title outside the C-suite. Loading audio narration… The bank promoted 135 people in its global banking and markets, and two of the investment bankers made Business Insider’s Rising Stars of Wall Street list last October, which tracks some of the most impressive up-and-coming dealmakers and investors.Here’s what they told us last year about their now even more distinguished careers.Florian Plath Florian Plath was just promoted to managing director at JPMorgan.  Courtesy of JPMorgan Florian Plath, who was 34 when…

President Donald Trump sure doesn’t sound like a prediction market enthusiast. Loading audio narration… Asked on Thursday if he was concerned about the potential for insider trading on prediction markets, Trump told reporters in the Oval Office that he was “never much in favor” of betting in financial markets.”The whole world, unfortunately, has become somewhat of a casino,” Trump said. “I don’t like it, conceptually, but it is what it is. No, I think that I’m not happy with any of this.””They have all these different sites, they have ‘predictive markets,'” Trump continued. “It’s a crazy world. It’s a much…

President Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project on July 24, 2025. Chip Somodevilla/Getty Images hide caption toggle caption Chip Somodevilla/Getty Images The U.S. Justice Department is dropping its investigation of Fed Chair Jerome Powell, paving the way for the Senate to confirm Kevin Warsh, the president’s nominee to head the central bank. “This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers,” U.S. Attorney for D.C. Jeanine Pirro said…

FILE PHOTO: Psilocybin or “magic mushrooms” are seen in an undated photo provided by the U.S. Drug Enforcement Agency (DEA) in Washington, U.S. May 7, 2019.DEA | ReutersThe U.S. Food and Drug Administration on Friday announced a series of measures aimed at accelerating the development of psychedelic treatments for serious mental illness.That comes after President Donald Trump signed an executive order on Saturday directing federal health agencies to expand access to emerging therapies.The move marks a significant shift toward supporting psychedelic-based medicines for conditions such as treatment-resistant depression, post-traumatic stress disorder and other substance use disorders, the FDA said.”Under President…

Procter & Gamble on Friday reported quarterly earnings and revenue that topped analysts’ expectations, as volume for its products grew for the first time in a year.Shares of the company rose roughly 4% in premarket trading.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.59 adjusted vs. $1.56 expectedRevenue: $21.24 billion vs. $20.5 billion expectedP&G reported fiscal third-quarter net income attributable to the company of $3.93 billion, or $1.63 per share, up from $3.78 billion, or $1.54 per share, a year earlier. Excluding restructuring costs and other items, the company…

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.New York’s proposed tax on second homes worth more than $5 million is likely to spark costly legal battles over how to value the city’s most expensive real estate, according to appraisers and attorneys.The city’s so-called “pied-à-terre” tax, announced last week by New York Gov. Kathy Hochul and New York City Mayor Zohran Mamdani, would impose an annual surtax on non-primary residential real estate worth more than $5 million.…

Elon Musk says an AI-driven future will mean government handouts and citizens not needing to save for retirement, so we asked his longtime friend and fellow techno-optimist, Peter Diamandis, to break down the argument behind those claims. Loading audio narration… “Don’t worry about squirreling money away for retirement in 10 or 20 years,” Musk said on a January episode of the “Moonshots with Peter Diamandis” podcast. “If any of the things that we’ve said are true, saving for retirement will be irrelevant.””So I’m not sure I’m going to be passing that advice along,” Diamandis told Business Insider by video call,…