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Mayor Zohran Mamdani is gearing up to tax the rich — if they live elsewhere but own multimillion-dollar properties in New York City. Loading audio narration… Mamdani and New York Gov. Kathy Hochul announced a proposal last week to tax pieds-à-terre — homes owned by people with primary residence outside the city — worth over $5 million. Hochul estimates it could raise $500 million in revenue annually, helping to close the city’s budget gap and funding new affordability measures. The proposal has already invoked immediate backlash from business leaders and right-leaning politicians.Significantly, the proposal would, indeed, tax the rich —…

The path to partnership used to be the dream — especially at Bain, McKinsey, or BCG.But in the AI boom, some consultants have traded slide decks for startups. As AI reshapes industries and lowers the barriers to building a company, advising from the sidelines no longer feels like enough.Several of the former consultants we spoke to said they’d long had the itch to build. AI simply made the timing feel right.Others said that after years in consulting, owning a business — rather than recommending strategies to others — felt like the natural next step.The shift away from the Big Four…

A top quant researcher who resigned from systematic trading firm Jump Trading Group last week is getting backing from hedge fund giant Millennium Management, Business Insider has learned. Loading audio narration… Yiming Zhang, one of Jump’s most senior researchers and a 17-year veteran of the firm, is expected to start as an external manager for Millennium on an exclusive basis after his non-compete restrictions expire, people familiar with the matter said.Jump, like many secretive quant trading firms, is well-known for enforcing lengthy non-compete provisions, which can last two years even for non-executive employees.A Millennium spokesman declined to comment. Zhang did…

You could own the birthplace of OpenAI — if you have $1.5 million to spare.When OpenAI first launched in 2015, its founders, including Sam Altman, did not have an office and primarily worked out of cofounder Greg Brockman’s apartment in the Mission. That very loft apartment on the upper levels of 2977 21st St. in San Francisco has been listed for sale for $1,545,000 and had its first open house over the weekend.Shane Ray, the listing agent with Compass, told Business Insider that while some visitors arrive knowing the history of the unit, which is in a Victorian house built…

Acting Attorney General Todd Blanche speaks as FBI Director Kash Patel listens during a news conference at the Justice Department on Tuesday in Washington. Jacquelyn Martin/AP hide caption toggle caption Jacquelyn Martin/AP WASHINGTON — The Southern Poverty Law Center was indicted Tuesday on federal fraud charges alleging it improperly raised millions of dollars to pay informants to infiltrate the Ku Klux Klan and other extremist groups, acting Attorney General Todd Blanche said. The Justice Department alleges the civil rights group defrauded donors by using their money to fund the very extremism it claimed to be fighting, with payments of at…

A United Airlines Airbus A321 plane approaches the runway at Denver International Airport (DEN) on March 23, 2026 in Denver, Colorado. Al Drago | Getty ImagesUnited Airlines slashed its 2026 earnings outlook Tuesday as it grapples with a surge in jet fuel prices due to the war in the Middle East.United said it could earn between $7 and $11 a share on an adjusted basis this year, down from its previous forecast of between $12 and $14 a share that it released in January, more than a month before the U.S. and Israel attacked Iran. The carrier, like others, is…

Market Zandi is among the prominent market voices that continue to sound alarms about the state of the economy, but he also recently revealed he still sees a path to avoid a major downturn. Loading audio narration… In a recent webcast hosted by commercial real estate firm Marcus & Millichap, Zandi said that he thinks the US can sidestep a recession if it can “get out of its own way” and pivot from some of the damaging policies he’s previously warned against.”What I meant about getting out of our way is to avoid making counterproductive policy choices, such as broad-based…

Tariff refunds could start reaching some US consumers in the coming months. Loading audio narration… Shipping services FedEx, UPS, and DHL say their customers can expect to see repayments after those companies pursue claims through the US Customs refund portal, which opened Monday. The agency says funds should be released after about 60 to 90 days. The shipping services say they will then begin refunding their customers.Many e-commerce shoppers were surprised last year with hefty fees on packages from overseas, due to a combination of the end of the de minimis exemption for lower-value imports and the smattering of new…

Artificial intelligence creates “a culture of experimentation,” and gives marketers the power to quickly scale the innovative and creative work they do, said Rachel Thornton, chief marketing officer of Adobe’s enterprise business, in a video interview for CMO Insider. Loading audio narration… A major benefit is optimized personalization. Thornton said one of its customers, the beauty retailer Ulta, is using AI to analyze customer data. AI can help pinpoint the specific customer preferences and market to a “segment of one,” creating a more personal relationship with the brand, she said.”It’s a one-on-one relationship and is building that experience and that…

Kevin Warsh can’t change his LinkedIn job title just yet. Loading audio narration… The former Wall Street executive joined the Senate Committee on Banking, Housing, and Urban Development on Tuesday to discuss his qualifications — and pending confirmation — as the chair of the Federal Reserve. Lawmakers asked about Warsh’s policy outlook, his loyalty to President Donald Trump, and his recently released financial disclosures.From personal finance to political pressure, here are Business Insider’s biggest takeaways from the hearing.Senators worry Warsh will be a ‘sock puppet’Warsh’s confirmation isn’t a sure thing. Lawmakers across the aisle have expressed concerns about the future…