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President Donald Trump sued the U.S. Treasury and Internal Revenue Service for at least $10 billion over an unauthorized disclosure of his tax returns to the press during his first term in office, potentially putting American taxpayers on the hook for a massive payout.Processing ContentThe suit was filed Thursday in Miami federal court by Trump, his sons Donald Jr. and Eric, and the Trump Organization, which manages the president’s real estate holdings. Trump had long criticized the IRS for allegedly working to undermine him for political purposes.Trump’s lawsuit revisits a clash that took center stage weeks before the 2020 election,…

Kevin Warsh, a former bank executive and central bank governor, has been chosen by President Donald Trump to lead the Federal Reserve.”I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM,” Trump said in a Friday post on Truth Social.After sharing a lengthy list of Warsh’s career achievements, Trump added: “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.””On top of everything else, he is…

A 2025 Ford Lightning electric vehicle (EV) at a Ford dealership in Antioch, California, US, on Thursday, Dec. 18, 2025. David Paul Morris | Bloomberg | Getty ImagesDETROIT — Ford Motor said it will report pretax charges of $600 million in its fourth-quarter results due to adjustments in its employee pension plans and other postretirement benefits.The Detroit automaker said the special charges, which will affect its net income but not its adjusted results or cash, are split between domestic plans and those outside the U.S.”The remeasurement loss for U.S. plans was largely driven by actuarial losses compared to plan assumptions,”…

Moviegoers will find a wealth of familiar franchises on the big screen this year. It may not be enough to save the box office. New entrants from popular film series dominate the movie slate in the next 12 months. The 2026 schedule features releases from Star Wars, Marvel, DC Comics, Toy Story, Super Mario Bros., Hunger Games, Scream, Scary Movie, Minions, Dune and Jumanji. Intellectual property like these established franchises has long been an important part of Hollywood, but they are increasingly vital in 2026 as the theatrical industry seeks to break the $10 billion mark at the domestic box…

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.A new “blue wave” of tax hikes on the wealthy is rippling through state legislatures, as Virginia, Washington state, Rhode Island and others join California in calls for higher taxes on top earners and billionaires.With states facing potential cuts in federal aid and Democrat lawmakers emboldened by rising populism and a growing economic divide, legislators and governors in many blue states are preparing a range of new taxes on…

A General Motors Co. Chevrolet Blazer electric vehicle at a dealership in Colma, California, Jan. 23, 2026.David Paul Morris | Bloomberg | Getty ImagesDETROIT — American consumers are hitting a fork in the road when it comes to the U.S. automotive industry. Affluent buyers are purchasing new vehicles at increasingly higher prices, while lower-income ones are continuing to drive used models.This trend is a growing concern for auto executives and feeds into worries that U.S. consumers are facing a “K-shaped” economy, where the wealthy keep seeing gains while those who have lower incomes struggle.”We have a different vehicle buyer today than we…

Douglas P Sacha | Getty ImagesA 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.Strong stock market returns and tax reform gave a boost to charitable giving in 2025, according to DAFgiving360, one of the largest administrators of donor-advised funds. The organization reported that its donors granted a record $9.9 billion to charities in 2025, an increase of $2.2 billion, or 28%, from the prior year. Donors can contribute cash or assets to donor-advised funds, or DAFs, and…

Getty Images; BI 2026-01-30T11:32:01.279Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Many successful women say that regular exercise is a core part of their daily routines. So Business Insider asked a few to share their go-to gym essentials, from gadgets to athletic wear. They swear by Alo Yoga clothes, Bala wrist weights, an Oura Ring dupe, and…

What keeps the CEO of the billion-dollar company Wix up at night? The future of the workforce.”I’m really worried about the employment market,” Avishai Abrahami told Business Insider.The CEO said that a “massive amount” of roles will shrink due to AI advancement. He predicted that roughly 70% of the top 20 most popular jobs in the US today will be affected by AI over the next five to 10 years.Abrahami said he’s concerned about computers outsmarting humans, a concept often referred to as artificial general intelligence, which some tech leaders have said we have already surpassed in some ways. In…

Advertisements for Kalshi in New York City predicted a victory for Zohran Mamdani in the city’s mayoral election before the votes were counted and polls closed on Nov. 4, 2025. Olga Fedorova/Associated Press hide caption toggle caption Olga Fedorova/Associated Press Prediction market platform Kalshi is surging so much in Trump’s second term, that it’s prompted something of an arms race: Robinhood, Coinbase, FanDuel and DraftKings have all announced rival services in a bid to tap into prediction market mania, as traders put up hundreds of thousands of dollars speculating about future events. But the long-term outlook for this nascent industry…