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Jared Kushner is walking away from Paramount’s bid for Warner Bros. Discovery.Affinity Partners, a Florida-based private equity firm founded by President Donald Trump’s son-in-law, will not participate in financing Paramount’s $108 billion bid for WBD, a person close to the matter told Business Insider. The person said Affinity was expected to invest $200 million, a relatively small amount of the total bid.In a statement to various news outlets, an Affinity spokesperson confirmed the end of the firm’s participation.”The dynamics of the investment have changed significantly since we initially became involved in October. We continue to believe there is a strong strategic rationale for Paramount’s offer,” the spokesperson…

Michele Singer Reiner, Rob Reiner and their son Nick in 2013. Michael Buckner/Getty Images for Teen Vogue hide caption toggle caption Michael Buckner/Getty Images for Teen Vogue Nick Reiner, the 32-year-old son of filmmaker Rob Reiner and photographer Michele Singer Reiner, is being charged with two counts of first degree murder. Los Angeles County District Attorney Nathan J. Hochman said at a press conference Tuesday that the charges include a “special circumstance” of multiple murders and a “special allegation” that Reiner used a dangerous and deadly weapon — a knife. The charges carry a maximum sentence of life in prison…

Nine organizations including the American Institute of CPAs have sent a letter to the U.S. Department of Education expressing strong opposition to draft regulations that would exclude accounting from recognition as a professional degree program, urging accounting programs be included in the proposed rule.Processing ContentLast month, the Department of Education released a proposed framework that would leave out accounting, as well as nursing, education, architecture, social work and more from the definition of a professional degree program, reducing the amount of student loan aid available for post-graduate education. The AICPA and the National Association of State Boards of Accountancy registered…

The Institute of Internal Auditors has released its latest “topical requirement,” this time on organizational behavior as part of a company’s culture.Processing ContentThe IIA has previously released two other topical requirement documents, on cybersecurity and third-party relationships. The organizational behavior guidance deals with the human side of risk, including the observable actions, decisions and interpersonal dynamics of individuals and groups within an organization. “Misaligned behavior can prevent organizations from achieving strategic objectives, fulfilling stakeholder expectations, and complying with regulatory standards,” said the IIA. “The Organizational Behavior Topical Requirement provides a minimum baseline and consistent, comprehensive approach to help auditors assess the…

The Financial Accounting Foundation’s board of trustees appointed 13 new members to the Financial Accounting Standards Advisory Council, which advises the Financial Accounting Standards Board.Processing ContentThe new FASAC members will serve a one-year term beginning on Jan. 1, 2026, and may be reappointed for more terms. The new appointees are:John Campbell, department head of finance, professor and chair in financial accounting at the University of Georgia;Muneera Carr, executive vice president, chief accounting officer and controller at Wells Fargo & Co.;Toai Chin, board trustee and audit committee chair at Global X Funds;Lauren Elting, vice president of corporate controller and chief accounting…

This week brought a vanishingly rare jobs report on Tuesday after the longest government shutdown in history threw a wrench in federal data collection, and it was a mixed bag.The new data emphasized trends we’ve been seeing this year, including unemployment inching up and a tougher market for many job seekers.The Bureau of Labor Statistics delayed the report from December 5 to extend data collection and processing after its activities were affected by the government shutdown that lasted from October to about mid-November.The new data allowed economists, job seekers, reporters, and more to understand how job growth looked in both…

Collectors paid a pretty penny to get their hands to get the very last minted pennies.Stack’s Bowers Galleries, a specialized coin auction site, said it sold 232 three-coin sets featuring some of the final pennies ever struck for a grand total of $16.76 million.These coins aren’t like the ones stuck between your couch cushions or floating around in a junk drawer. One coin was struck at the Philadelphia Mint, one was struck at the Denver Mint, and the final coin was a special 24-karat gold penny. Each of the final pennies also bears a small “Ω,” the Greek letter of…

Gains and transfer taxes are major concerns for private companies looking to go to market.Processing ContentDeloitte Private’s latest pulse survey polled 100 leaders of private companies, with $100 million to $1 billion in revenue, about their organization’s timing, readiness, goals and preparation for a transaction. Leaders reported that tax on recognized gains (88%) and transfer taxes (87%) were major concerns, with 43% of leaders citing existing losses and 36% citing qualified opportunity zones as primary tax planning concepts.Fifty-seven percent of respondents anticipate their organization is planning a future transfer or sale in the next one to three years, while 22%…

The holidays came early for five BlackRock employees, who joined an elite circle of some of the firm’s most accomplished technologists on Tuesday.They became members of BlackRock’s Tech Fellows program, a group of 24 senior technologists playing a crucial role in the $13.5 trillion firm’s vision and operations.This year’s members underwent a rigorous application process — from being nominated to completing written evaluations and interviews — before being voted into the program by current fellows, Nish Ajitsaria, BlackRock’s co-head of Aladdin product engineering and executive sponsor of AI, and the co-executive sponsor of the program, said.”We think about the combination…

Tarek Adieh, of Tampa, Florida, looks at cannabis flower from wholesaler Dep Kings at Champs Trade Show at the Palmer Events Center, Sept. 11, 2025.Jay Jannar | Hearst Newspapers | Getty ImagesPresident Donald Trump is expected to sign an executive order this week that would broadly expand access to cannabis. Industry advocates, executives and researchers who spoke to CNBC said the changes would come with big implications for both consumers and the health care industry. Trump said Monday he’s “strongly” considering an executive order that would reclassify pot as a Schedule III drug under the U.S. Drug Enforcement Agency, which…