Author: Editor

This as-told-to essay is based on a conversation with Luke Breen, co-owner of specialty bike shop Perennial Cycle in uptown Minneapolis. The following conversation has been edited for brevity and clarity.Perennial is a specialty bike shop. We do cargo bikes, city utility bikes, and commuting bikes, and have been a niche business for 33 years.Perennial focuses on community events. Last year, we did 35 organized community rides. So, while we do rely on selling bikes, we’re very community-driven. That’s always been a big piece of Perennial Cycle.You cannot be in Minneapolis without ICE’s presence impacting your day-to-day. You just simply…

Google cofounder Sergey Brin is one of the many California-based billionaires pouring millions into donations ahead of the state’s proposed wealth tax.Brin, along with other tech executives, venture capitalists, and philanthropists, donated a combined $35 million to ballot measure committees in January, supporting affordable housing ballots in California, per a disclosure seen by Business Insider.The disclosure was filed by the coalition “Building a Better California.”Brin was the largest contributor in the filing, donating $20 million. Others donated large sums on various days in January, like former Google CEO Eric Schmidt and PayPal CEO Max Levchin, who donated $2 million and…

A Home Depot logo is displayed at one of their stores in San Diego, Nov. 8, 2025.Kevin Carter | Getty Images News | Getty ImagesHome Depot on Wednesday laid off 800 workers and said corporate employees will have to return to the office five days per week.In a message to employees, CEO Ted Decker said the changes are intended to increase the company’s “speed and agility.””To extend our industry-leading position, we must position the company to move faster and stay even more closely connected to our customers and frontline associates,” he wrote in the memo.A corporate spokesperson confirmed that the company…

The first accuser to testify in the sex-trafficking trial of ex-luxury real estate brokers Tal and Oren Alexander and their brother deftly rebuffed questions involving actor Zac Efron and her own blurry memory on Wednesday.The woman, testifying under the pseudonym “Katie Moore,” was an early and key government witness in the Manhattan federal trial of Tal, Oren, and Oren’s twin, Alon Alexander.She has testified that she was drugged and raped by Alon Alexander in 2012, when she was 20 years old, at his Manhattan apartment after they attended an NBA Finals viewing party at Efron’s nearby penthouse.Prosecutors have alleged in…

A Carvana used-car vending machine displays vehicles in Miami, Dec. 9, 2022.Joe Raedle | Getty ImagesShares of Carvana plummeted 14.2% Wednesday following short-seller accusations that the online used retailer overstated earnings with the help of businesses controlled by CEO Ernie Garcia III’s family.  Gotham City Research alleged Wednesday that the online used car retailer, which entered the S&P 500 last month, overstated its 2023-2024 earnings by more than $1 billion, and is “far more dependent on related parties” connected to the family than previously disclosed.To make its point, the short-seller published the 2024 audited financials of DriveTime Automotive Group, Inc.…

A Southwest Airlines aircraft parks at Gate B33 while its tail sticks into the sunlight at Boston Logan International Airport in Boston, MA, on December 22, 2025. Austin DeSisto | Nurphoto | Getty ImagesSouthwest Airlines on Wednesday forecast a surge in 2026 profits well above analysts’ expectations as the carrier overhauls its half-century-old business model to include new moneymakers like bag fees and seat assignments.The airline expects to earn at minimum, an adjusted $4 a share this year, exceeding the $3.19 analysts had anticipated, according to estimates from LSEG. It also forecast capacity growth of 2% to 3% compared with…

The first Federal Reserve meeting of 2026 is in the books, and Chair Jerome Powell stayed tight-lipped on the central bank’s biggest controversies.From the job market to political tensions, here are Business Insider’s biggest takeaways from the January call to hold rates steady.Economic optimismThe Fed appeared more optimistic about the economic picture on Wednesday. While recent Fed press releases after interest rate decisions included a warning of “downside risks to the labor market,” that comment was removed in January’s release.Powell said that the central bank’s dual mandate — stable prices and maximum employment — is becoming more balanced than it…

2026-01-28T21:03:07.227Z 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. Home Depot laid off around 800 corporate employees on Wednesday. The cuts affected roles tied to the chain’s store support center in its hometown of Atlanta. Companies from tech to consumer brands are cutting staff so far in 2026. Home Depot laid off about 800 corporate employees on Wednesday…

Self-directed individual retirement accounts come with tax advantages and access to alternative investments — along with major technical caveats and the risk of costly mistakes.Processing ContentThat’s why it’s important for investors tapping into alternative vehicles not allowed in traditional IRAs to not only pick the right service providers but also understand the complex rules for prohibited securities transactions, according to Todd Kesterson, a certified public accountant and principal of family office services with accounting and advisory firm Kaufman Rossin. Investors who turn to financial advisors to build their wealth via the strategy, which reportedly helped make Peter Thiel a billionaire, could…

2026-01-28T20:50:53.465Z 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. Umesh Subramanian is out as Citadel’s CTO after 7 years on the job. He will remain with the firm but work on initiatives outside technology, an internal memo said. Andrew Janian is returning to Citadel to serve as CTO on an interim basis. Citadel’s top technology executive is exiting…