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2026-01-26T18:32:11.003Z 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. Bessent said the Treasury is canceling its contracts with consulting firm Booz Allen Hamilton. An employee at the firm pleaded guilty to leaking Trump and Musk’s tax returns. The company’s stock dropped more than 11% after the announcement. Treasury Secretary Scott Bessent said the Treasury Department cut contracts with…

Target’s incoming CEO’s first staff message of the year is a somber one.Michael Fiddelke, who takes over as CEO next week, addressed the situation in Minneapolis with an internal video message Monday, two days after federal agents killed a second person in the city.”As someone who is raising a family here in the Twin Cities and as a leader of this hometown company, I want to acknowledge where we are,” he said. “The violence and loss of life in our community is incredibly painful.”Fiddelke’s message, which Business Insider viewed, did not identify President Donald Trump or ICE by name, and…

The Department of the Treasury said Monday that it is canceling all contracts with Booz Allen Hamilton after a former contractor who worked for the consulting firm leaked tax information belonging to thousands of people, including President Trump. In 2024, former IRS contractor Charles Edward Littlejohn of Washington, D.C. — who worked for Booz Allen Hamilton — was sentenced to five years in prison after pleading guilty to leaking tax information about Mr. Trump and others to news outlets.Littlejohn gave data to The New York Times and ProPublica between 2018 and 2020 in leaks that appeared to be “unparalleled in the…

Goldman Sachs just announced seven new power players it’s vaulting to its most powerful echelon — and the fact that they all sit in the same division tells you something about where the bank is headed.The firm’s management committee — currently 41 members — is adding seven seats for partners the bank appointed on Monday. All sit within the asset and wealth management business, which holds $3.6 trillion in assets, offering a snapshot about who’s gaining influence at the highest levels of 200 West Street.The executives run businesses spanning private credit, public investing, alternatives, and wealth management.”The opportunity to continue…

The Internal Revenue Service officially opened the 2026 tax-filing season Monday amid changes from the One Big Beautiful Bill Act, staffing and budget cuts at the agency, a snowstorm that paralyzed transportation across the country, and the threat of a possible government shutdown later this week.Processing ContentThe IRS said it expects approximately 164 million individual tax returns to be filed for tax year 2025 before the tax deadline on Wednesday, April 15. Taxpayers can find a range of tools and filing options on IRS.gov to help them prepare and file their returns. “As America celebrates its 250th anniversary, the IRS and…

Arman Onal/Anadolu via Getty Images 2026-01-26T16:25:35.561Z 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. TikTok’s algorithm was disrupted on Sunday as the company dealt with a data center outage. Users reported seeing a flurry of old videos in their feeds. Some wondered whether the shake-up was caused by TikTok’s new US investors, including Oracle. Did your TikTok FYP…

Fiddelke, Target’s chief operating officer, will step into the CEO role on Feb. 1. In the video message to employees, he said he’s looking forward to starting the job in a week and “this isn’t the first message I imagined I’d send.”He said he’s “been meeting with a range of leaders and this weekend added my signature to a statement using our collective voice to call for calm, constructive dialogue and deescalation to reduce tension and keep people safe as that work continues.”Hi team.In one week I will officially start as CEO.We’re about to step into a new chapter for…

Transportation Secretary Sean Duffy said the Federal Aviation Administration needs two more days to fully recover from the significant flight disruptions that came over the weekend due to the massive winter storm that swept across the country.In an interview Monday on CNBC’s “Squawk Box,” Duffy said the FAA is targeting Wednesday as the day it hopes flights will return to normal.”This storm is unique,” Duffy said. “You get the ice and you get the snow and, on top of that, we have now a cold weather snap that comes after it. … So it makes it more challenging to navigate…

PwC executives have asked teams to resume pitching for work with Saudi Arabia’s wealth fund, according to people familiar with the matter, as the one-year ban on the consulting firm in an important market comes to an end.Processing ContentManagers at PwC have been told internally that teams can now send proposals to the Public Investment Fund, the people said, declining to be identified as the information is confidential. That comes a year after the Saudi fund temporarily banned PwC from advisory and consulting services contracts.Representatives for PwC and the PIF declined to comment.Business from Saudi Arabia’s expansion drive has been…

Jennifer Wilson of ConvergenceCoaching cross-examines the potential impact of private equity on firm culture, on the next generation of accountants, and on the profession as a whole.Transcript:Dan Hood (00:03):Welcome to On the Air with Accounting Today. I’m editor-in-Chief Dan Hood. In the many, many, many discussions about private equity and accounting, the focus is often on what PE brings to the table, which is mainly buckets and buckets of cash to fuel merger strategies and technology investments and partner retirements and so on. What’s less discussed is the potential downside of PE’s foray into the profession and the questions in…