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Bloomberg via Getty Images The Internal Revenue Service issued slightly fewer, but slightly larger, refunds last tax season, but saw a more than 1% jump in the total number of returns received and processed.The agency said that through Oct. 17, it has issued 102,122,000 refunds, compared to 103,185,000 for the 2024 season. The average 2025 refund was $3,052, up 1.6% over 2024. There were 93,196,000 direct deposit refunds, down slightly from 2024 figures.(The IRS phased out use of paper refund checks last month.)The agency said that it has received 163,594,000 2025 returns, a 1.3% increase over the 161,489,000 returns for…

The uber-rich are only getting richer as investors double down on the AI boom.The world’s 10 wealthiest people have added a remarkable $523 billion to their fortunes this year, the Bloomberg Billionaires Index shows. Mastercard, Exxon Mobil, and Netflix are all worth less than that; their market values were between $460 billion and $520 billion at Monday’s close.Oracle cofounder Larry Ellison has notched the biggest wealth gain so far this year with a $150 billion increase in net worth, to $343 billion.Alphabet cofounders Larry Page and Sergey Brin are both up more than $60 billion since the start of 2025,…

2025-10-28T14:16:43Z 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. AI is starting to shake up Hollywood. Startups are raising money to tackle every stage in the production cycle. Check out eight pitch decks AI startup founders shared with Business Insider. AI is starting to transform Hollywood, whether filmmakers and audiences are ready or not.AI startups are raising millions…

The “Google Guys” have got their groove back.Larry Page and Sergey Brin are the world’s second- and third-biggest wealth gainers this year as of Monday’s close, the Bloomberg Billionaires Index shows.The Alphabet cofounders have respectively grown $66 billion and $60.7 billion richer in just under 10 months, outpacing Meta CEO Mark Zuckerberg’s $56.8 billion gain and Nvidia CEO Jensen Huang’s $51.9 billion gain. The pair only trail Oracle cofounder Larry Ellison’s $150 billion increase.Page and Brin are now worth $234 billion and $219 billion each, ranking them fifth and sixth on Bloomberg’s rich list — not far behind Amazon founder…

PricewaterhouseCoopers reported Tuesday its global gross revenues increased $56.9 billion for the fiscal year ending June 30, 2025, a 2.7% increase in terms of local currency and 2.9% in U.S. dollars compared to last fiscal year’s $55.4 billion.The global network now includes 364,000 people across 137 countries and territories serving 82% of the Fortune Global 500. In the Americas, PwC’s revenues grew 5.5% to $25.5 billion, including strong revenue growth in the U.S. and Brazil. In the Europe, Middle East and Africa region, revenues increased 2.5% to $22.5 billion, with especially strong growth in Central and Eastern Europe and Spain.…

Good morning. Although that’s not the case for some Amazon employees. The tech giant just announced that it’s cutting 14,000 corporate jobs, marking one of the biggest rounds of layoffs in the company’s history.Amazon’s senior vice president of people experience and technology, Beth Galetti, announced the cuts in a blog post and said the reductions are a continuation of CEO Andy Jassy’s drive to operate the company “like the world’s largest startup.”Speaking of staffing reductions, artificial intelligence’s impact on company headcounts remains a top concern for workers. Today we’re looking at how a top Wall Street bank and a tech…

Misha Zaitzeff and Vik Ghei, founders of HoldCo Asset Management, at their Fort Lauderdale, Florida, offices.Courtesy: HoldCoAmerican banks have found an unlikely pair of adversaries in Vik Ghei and Misha Zaitzeff.Since July, the nine-person hedge fund they run from Fort Lauderdale, Florida, called HoldCo, has challenged lenders with more than $200 billion in combined assets, demanding that they take swift action or face public campaigns to overthrow their boards and fire their CEOs.The fund notched a victory this month after Comerica, under pressure from HoldCo, agreed to sell itself to rival Fifth Third for $10.9 billion in the biggest bank…

A UPS worker pushes a cart in New York, US, on Monday, Oct. 27, 2025.Michael Nagle | Bloomberg | Getty ImagesUnited Parcel Service on Tuesday reported earnings that topped Wall Street’s estimates ahead of its busy holiday season.Shares of the package delivery giant surged 10% in premarket trading.Here’s how the company performed in its third quarter, compared with what Wall Street was expecting based on a survey of analysts by LSEG:Earnings per share: $1.74 adjusted vs. $1.30 expectedRevenue: $21.4 billion vs. $20.83 billion expectedFor the period ended Sept. 30, the company reported net income of $1.31 billion, or $1.55 per…

Online home goods company Wayfair reported a jump in third-quarter revenue on Tuesday, as it beat Wall Street estimates on the top and bottom lines.The company said total net revenue increased 8.1% year-over-year.Here’s how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 70 cents adjusted vs. 43 cents expectedRevenue: $3.12 billion vs. $3.02 billion expectedWayfair shares climbed 10% in premarket trading.For the period ended Sept. 30, Wayfair reported a net loss of $99 million, or 76 cents per share, compared to a loss of $74 million,…

Alex Chriss, CEO of PayPal Inc.Courtesy: PayPalPayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through the leading consumer AI tool, the company told CNBC exclusively. The agreement, sealed over the weekend, means that starting next year, both sides of PayPal’s ecosystem can plug into ChatGPT: PayPal users can purchase items through the AI platform, and its merchants can sell on it, with their inventory listed there, according to PayPal CEO Alex Chriss.”We’ve got hundreds of millions of loyal PayPal wallet holders who now will be able…