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A small circle of JPMorgan employees is likely having a very, very good week. Loading audio narration… JPMorgan Chase promoted a large swathe of executives to managing director, the highest title at the firm outside the C-suite, according to screenshots of the company’s intranet announcement seen by Business Insider. The group spans dealmaking, wealth management, technology, and support roles, reflecting the diverse businesses inside America’s biggest bank by assets. The promotions were global, with employees from Switzerland and Luxembourg to Singapore and Hong Kong receiving new titles. JPMorgan declined to comment.Within the divisions housing the firm’s M&A and IPO bankers,…

Paramount Skydance has high hopes for its streaming services ahead of their planned combination with HBO Max. Loading audio narration… Paramount’s streaming leadership team outlined its 2026 goals and 2025 accomplishments in a presentation on Thursday, hours after Warner Bros. Discovery shareholders approved its Paramount deal.During a town hall, David Ellison’s company shared global viewership stats for its top two streaming services, which have never been publicly disclosed.The company’s flagship streamer, Paramount+, generated 10.4 billion global viewing hours last year, up 22% from 2024, according to slides from the presentation viewed by Business Insider. Pluto TV, its free streamer, grew…

People walk past a Nike store in New York City, on April 2, 2025.Kylie Cooper | ReutersNike announced a new round of layoffs on Thursday impacting approximately 1,400 roles across the organization, mostly concentrated in its technology department.In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.”Collectively, these changes will result in a reduction of approximately 1,400 roles in…

Billionaire Ken Griffin was targeted last week by New York City Mayor Zohran Mamdani — and now the Citadel founder’s right-hand man is suggesting the hedge fund could rethink a $6 billion project. Loading audio narration… The clip shared by Mamdani called out Griffin by name as the mayor and his allies tout an additional tax on second homes in the city worth at least $5 million. Griffin, whose two financial companies are based in Miami, bought his $238 million New York penthouse in 2019 and employs nearly 2,500 people in the Big Apple.A Thursday companywide memo from Gerald Beeson,…

U.S. President Donald Trump (C) speaks during an event on advancing health care affordability in the Oval Office of the White House on April 23, 2026 in Washington, DC. Alex Wong | Getty ImagesRegeneron agreed to lower U.S. drug prices for some Americans as part of a deal with President Donald Trump, the White House said on Thursday.The biotech company will also offer the first hearing-loss gene therapy for free to eligible U.S. patients following regulatory approval of the product earlier Thursday. Regeneron is the latest in a string of major drugmakers to make pricing concessions for new and existing medicines…

Meta is welcoming a new app to the family. Loading audio narration… Instagram launched a new app called “Instants” in Italy and Spain on Thursday, but it’s not live elsewhere yet, a Meta spokesperson confirmed to Business Insider.Instants lets users share disappearing photos with their friends. These photos last 24 hours and can’t be viewed more than once. The app’s slogan, per the current app listing: “Real life, real quick.”The app sounds like a Frankenstein of social apps like Locket, BeReal, and, of course, Snapchat.The app is intended to “give people low-pressure ways to connect with friends,” the spokesperson added.Users…

David Ellison is celebrating a major milestone in Paramount Skydance’s planned acquisition of Warner Bros. Discovery. Loading audio narration… WBD shareholders voted for the Paramount deal in a special meeting on Thursday morning, prompting the Paramount CEO to take a victory lap.”We are grateful for the trust and confidence shareholders have placed in our leadership team and in our plan to combine our organizations to build a next-generation media and entertainment company — one that better serves both the creative community and consumers around the world,” Ellison said in a memo to employees, which was obtained by Business Insider.Ellison also…

Spirit Airlines’ accessible cash to keep operating won’t last long and a government rescue package is on the table, a lawyer for the struggling budget carrier said at a hearing Thursday.President Donald Trump later Thursday at the White House told reporters: “We’re thinking about doing it, helping them out, meaning bailing them out, or buying it.”Trump told reporters that “when the price of oil goes down,” the government could “sell it for a profit.””I’d love to be able to save those jobs. I’d love to be able to save an airline. I like having a lot of airlines, so it’s…

France, Provence-Alpes-Cote d’Azur, French Riviera, Alpes-Maritimes, Principality of Monaco.Marco Bottigelli | Moment | Getty ImagesA million dollars isn’t what it used to be — especially in luxury real estate.According to the new Knight Frank Wealth Report, $1 million buys you only 16 square meters (or about 172 square feet) in Monaco, the world’s most expensive luxury market as measured per meter. That’s down from 17 square meters (182 square feet) in 2020.In Hong Kong, which ranks second, $1 million gets you 22.5 square meters, or about 242 square feet. New York looks downright affordable next to London, Singapore and Geneva,…

A customer inside a Starbucks coffee shop in Hercules, California, US, on Thursday, Sept. 25, 2025. David Paul Morris | Bloomberg | Getty ImagesStarbucks is seeing early signs that changes to its loyalty program are paying off as value-minded consumers take advantage of its rewards, CNBC has learned.Last month, the coffee chain brought back tiers to its North American Rewards program, added “free Mod Mondays” for drink customization, offered double points for using a reusable cup and extended the amount of time for members to redeem their birthday award. The revamp also cut the number of stars — or points…