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Prakazrel “Pras” Michel, a member of the 1990s hip-hop group the Fugees, accompanied by defense lawyer David Kenner, right, arrives at federal court April 3, 2023, in Washington. Andrew Harnik/AP hide caption toggle caption Andrew Harnik/AP WASHINGTON — Grammy-winning rapper Prakazrel “Pras” Michel of the Fugees was sentenced on Thursday to 14 years in prison for a case in which he was convicted of illegally funneling millions of dollars in foreign contributions to former President Barack Obama’s 2012 reelection campaign. Michel, 52, declined to address the court before U.S. District Judge Colleen Kollar-Kotelly sentenced him. In April 2023, a federal…

Gap is taking a victory lap after the success of its viral denim ad campaign over the summer.Richard Dickson, CEO of Gap Inc., said the brand’s “Better in Denim” ad campaign, in addition to being a huge hit on social media, converted into significant sales.”With more than 8 billion impressions and 500 million views, Better in Denim culminated in a global cultural takeover and has become one of the brand’s most successful campaigns to date, generating significant traffic and double-digit growth in denim,” Dickson said Thursday on the company’s third-quarter earnings call.Gap Inc., which includes its namesake brand as well…

2025-11-21T00:53:21.276Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link 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. In an all-hands meeting on Thursday, Nvidia CEO Jensen Huang addressed the company’s earnings. Huang said that “the market did not appreciate” Nvidia’s knockout numbers. Huang said the company was in a no-win situation amid AI bubble chatter. In a company meeting on Thursday, Nvidia CEO Jensen Huang said…

Don’t bet against Paramount Skydance CEO David Ellison — especially if he has President Donald Trump on his side.Paramount made a bid for all of Warner Bros. Discovery in time for the media conglomerate’s self-imposed Thursday deadline, according to The New York Times. Comcast and Netflix are also bidding for the streaming and studios side of WBD, The Times reported.Spokespeople for Paramount and WBD declined to comment. Spokespeople for Comcast and Netflix didn’t respond to requests for comment.A Paramount-WBD deal would be the largest media tie-up since Disney bought Fox’s TV and movie studio in 2019. While mega-mergers of that…

This as-told-to essay is based on a conversation with Jeff Perera, 48, the cofounder of Jeff’s Bagel Run. It has been edited for length and clarity.I met my wife while working at Target, marking the beginning of what became a decadeslong career in retail. Over the years, I moved into leadership roles at several major brands before eventually joining a senior living company in a senior role.Then, in August 2019, I got a call that changed everything: I was being let go. At the time, my wife, Danielle — who’d also built a successful career — was home full-time with…

The Internal Revenue Service and the Treasury Department released interim guidance Thursday giving new tax benefits to banks and other lenders that provide loans secured by rural or agricultural real property.In Notice 2025-71, the IRS and the Treasury provided interim guidance on a provision of the One Big Beautiful Bill Act that lets certain lenders exclude from gross income 25% of the interest they receive from loans on such property. Lenders can rely on the interim guidance until the Treasury and the IRS come out with proposed regulations.The OBBBA added Section 139L to the Tax Code, providing the lucrative tax…

Here’s a very 2025 headline, courtesy of Variety: “Paramount Bid for WB Discovery Backed by Saudis, Qatar and Abu Dhabi.”But a few hours after that one was published on Tuesday, it got a rewrite: “Paramount Skydance Denies That Its Warner Bros. Discovery Bid Involves Arab Sovereign Wealth Funds.”Variety’s earlier story, Variety explained, had been swatted down by Paramount PR, which called it “categorically inaccurate.”So there you go. Larry and David Ellison, who own Paramount and now want to buy Warner Bros. Discovery, aren’t going to use Middle Eastern oil money to make that deal happen. Got it?Except: Variety isn’t the…

Shoppers walk past a GAP fashion retail store on Oxford Street on October 30, 2025 in London, United Kingdom. John Keeble | Getty Images News | Getty ImagesApparel retailer Gap said Thursday its comparable sales rose 5% during the fiscal third quarter, driven by strong revenue at its namesake brand after its viral “Better in Denim” campaign with girl group Katseye. Putting aside pandemic-related spikes, the rise in comparable sales is the strongest growth for Gap since its fiscal 2017 holiday quarter and is well ahead of Wall Street expectations of 3.1%, according to StreetAccount. In an interview with CNBC, CEO Richard…

The American Institute of CPAs sent a letter to the Internal Revenue Service urging the IRS not to merge its Office of Professional Responsibility with its Return Preparer Office, saying the combination would lead to confusion.The Trump administration has been steadily downsizing the federal government since taking office this year, initially through the Department of Government Efficiency, or U.S. DOGE Service, that was led by Elon Musk until his rancorous departure from the White House amid a dispute over the One Big Beautiful Bill Act, and through the Office of Management and Budget led by White House Budget Director Russell…

The Financial Accounting Standards Board issued a post-implementation review Thursday of its 2016 standard on leases and found it generally met its objective of providing investors with more information about a company’s leasing activity, but the costs of implementing and maintaining it were far higher than expected for lessees.FASB and the International Accounting Standards Board worked together for about a decade on updating the leasing standard as part of their efforts to converge U.S. GAAP with International Financial Reporting Standards. Early on, they agreed to put operating leases on the balance sheet of most companies for the first time, although…