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Bank of America settled a proposed class-action lawsuit from Jeffrey Epstein accusers who alleged the bank facilitated the now-dead pedophile’s sex-trafficking operation, court records show. Loading audio narration… Lawyers for the bank and a group of Epstein accusers told the judge overseeing the case during a pretrial conference last week that they “reached a settlement in principle,” according to a Monday update to the case’s docket.The terms of the settlement were not made public.US District Judge Jed Rakoff, who is overseeing the case, gave a March 27 deadline for the parties to file public documents laying out the settlement’s terms,…

Shoppers will likely soon have to say goodbye to Eddie Bauer’s retail stores across the US and Canada.Nearly 200 North American storefronts of the iconic outdoor apparel chain are expected to shut down after the operating entity behind the stores failed to find a buyer during its Chapter 11 restructuring.Liquidation sales have been underway at the US and Canadian stores, Eddie Bauer LLC — an entity of retail holding company Catalyst Brands that licenses the rights to operate Eddie Bauer stores across North America — has said in court documents.Those store-closing sales are projected to wrap up before April 30,…

At 35, I left my comfortable life in Texas and bought a one-way ticket to Madrid to teach English.On paper, everything in Austin looked fine: I had a job at a tech startup, a condo, and a steady routine. My days were predictable, comfortable, and deeply unfulfilling. I felt like I was sleepwalking through them.I’d studied in Spain and had attempted to move there three times during my 20s. By my mid-30s, I assumed I had missed my opportunity. Despite being single and childfree, walking away from everything without a plan felt like recklessly blowing up my life.However, I always…

This as-told-to essay is based on a conversation with Jay Zigmont, founder of Childfree Wealth and Childfree Trust. It has been edited for length and clarity. Loading audio narration… I wear a shirt when I want to start conversations. It says, “Proudly childfree and wealthy.” At financial conferences, it stops people in their tracks and gives me an opportunity to talk about my work helping childfree people make estate plans that match their lives.My wife, Vicki, and I have been married for nearly 17 years. Because of a health condition she has, we always knew we wouldn’t have kids. It’s…

After years of aggressive lending, private credit firms are entering a tougher phase: managing troubled loans.But distressed loans don’t necessarily mean private credit investors are wiped out. In fact, demand for professionals who focus on squeezing returns out of struggling loans has been on the “uptick for the last 18 months,” said John Rubinetti, partner at executive leadership and recruiting firm Heidrick & Struggles.And now, US private credit has a default rate at 5.8%, according to Fitch Ratings, the highest since Fitch started tracking in 2024, it’s more important than ever for firms to have strong workout and restructuring teams…

Greg Abel just pulled back the curtain on his first big move as Berkshire Hathaway’s new CEO. Loading audio narration… Abel, who took over from Warren Buffett in January, shelled out roughly $225 million to repurchase 309 million of Berkshire’s Class A shares on Wednesday, March 4, the company’s proxy statement revealed on Friday.That’s a notable shift in strategy for Berkshire, which didn’t buy back a single share during Buffett’s final six quarters in charge.Berkshire — which owns scores of businesses such as Geico and Dairy Queen, and has huge stakes in listed companies including American Express and Coca-Cola —…

A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.Adam Glanzman | Bloomberg | Getty ImagesPeloton on Monday announced its Commercial Series, the company’s first Bike and Tread products built for high-traffic gym floors. The move marks the company’s latest push beyond its core at-home business and deeper into the multibillion-dollar commercial fitness market.”I’ve had the chance of speaking with the CEOs of a number of gyms, gym operators or big-box operators over the last year,” CEO Peter Stern told CNBC in an interview. “The one brand their…

And the Oscar for splashiest ad campaign during the 2026 Academy Awards goes to… Burger King. Loading audio narration… The fast-food giant went big to ensure its brand was all over the Oscars this year, airing a series of spots during the commercial breaks and on-air host mentions of its sponsorship at key moments throughout the ceremony. The standout ad was a 90-second mea culpa.In the “There’s a New King, and It’s You” spot, Burger King owned up to past mistakes like slow service, burgers that got squished by substandard packaging, and fast food that “fell off.” The company said…

This. Is. March. (At Business Insider.) Loading audio narration… The NCAA men’s and women’s basketball tournaments kick off this week. March Madness is considered one of the best sporting events of the year, but why let them have all the fun?Here at BI Today, we’re doing a bracket of our own, and we need your help. Below you’ll find an eight-team bracket made up of some of the biggest trends in business, seeded from one (highest) to eight.(My colleague Joe Ciolli is doing a bracket for First Trade focused on specific companies. You can check out his over here.)Voting will…

Lazar Jovanovic trained as a forestry engineer and has never written code. Loading audio narration… So, when he sits down to build software, he doesn’t open an editor and start churning out syntax. He begins by describing what he wants to build to an AI tool.Before joining the vibe-coding company Lovable, Jovanovic oversaw operations at an online marketplace. His latest job title: vibe-coding engineer.As Jovanovic sees it, his work isn’t all that different from traditional software development because he’s still building. At Lovable, part of his job is to show customers how easy the tools are for nontechnical users.”The skill…