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Federal employees’ inboxes are dinging — it’s yet another email about their jobs.Employees of multiple departments shared with Business Insider an email they received on Tuesday warning of a government shutdown and potential furloughs at midnight tonight. We spoke with 18 government workers, who used words like “confusion,” “uncertainty,” and “chaos” to describe the mood inside their agencies. Several confirmed they received the email.Workers at the Centers for Disease Control and Prevention, Social Security Administration, Department of the Interior, National Oceanic and Atmospheric Administration, and Office of Personnel Management, received the email from their leadership. It outlines what is expected…

Nice catalog of stories, characters, and intellectual property you have there.We’ll be taking it now.That appears to be what OpenAI is saying to Hollywood: The Wall Street Journal reports that the company behind ChatGPT has been telling studios and talent agencies that a new version of its Sora video creator will produce work based on Hollywood characters and other copyrighted work — without getting explicit permission from the rights holders.If studios or other copyright owners have a problem with that, they can go ahead and tell OpenAI that they want to opt out, WSJ reports. But they’ll have to do…

The stock market graphic of Zillow Group is displayed on a smartphone with the logo of Zillow in the background on Feb. 21, 2021.Sopa Images | Lightrocket | Getty ImagesThe Federal Trade Commission is suing real estate giants Zillow and Redfin, alleging the two illegally conspired to reduce competition in the online multifamily rental listing market, the agency said Tuesday. In the complaint, the FTC alleges the companies violated federal antitrust laws earlier this year when Zillow paid Redfin $100 million to essentially re-host Zillow multifamily rental listings on Redfin and its sites.Zillow- and Redfin-owned platforms such as Zillow Rentals and…

The One Big Beautiful Bill Act that President Trump signed into law on July 4 is abruptly curtailing the $7,500 tax credit for new electric vehicles and $4,000 for used EVs on Tuesday, although some automobile makers are launching programs of their own to extend the tax credit.According to Reuters, both Ford and General Motors are introducing programs to offer down payments on leased vehicles with discounts through their dealers. The companies’ financing units will initiate purchase of EVs in the dealers’ inventory by making down payments on the vehicles that would qualify the lenders for the tax credit. The…

A Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California. Kevin Carter | Getty Images News | Getty ImagesWHITE PLAINS, N.Y. — Spirit Airlines is making “massive progress” to revitalize the airline, the carrier’s restructuring lawyer Marshall Huebner said in a court hearing Tuesday.The struggling budget airline has reached an agreement with some of its debtholders for up to $475 million in debtor-in-possession financing, a lifeline that bankrupt companies can use to continue operating, as well as $150 million from a major aircraft lessor, Huebner said. The agreements…

The Financial Accounting Standards Board is looking for comments on a proposed accounting standards update offering authoritative guidance on how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock. The proposed ASU comes from a recommendation of FASB’s Emerging Issues Task Force.The current U.S. GAAP rules don’t address how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock, FASB acknowledged. As a result, there are differences in practice that can affect the measurement of the equity-classified preferred stock presented on the statement of financial position and, for entities that report earnings per share, the amount of income…

Bloomberg via Getty Images The cost of a preparer tax identification number is going down slightly again this year. The IRS Return Preparer Office conducted a biennial review of the PTIN user fee in 2025 and determined that the full cost of issuing or renewing a PTIN should be reduced from $11 to $10, plus $8.75 payable directly to a third-party contractor. This newly established $10 user fee will be effective for the start of the next PTIN renewal cycle beginning on Oct. 16, 2025. The PTIN fee is non-refundable. Failure to have and to use a valid PTIN may result in…

Wall Street’s top regulator pledged to fast-track Donald Trump’s proposal to end quarterly reporting for most companies, the president’s latest foray into a long-running debate over transparency in American capitalism.Paul Atkins, chairman of the Securities and Exchange Commission, said the proposal will give companies the option to report on a semi-annual basis and many firms might still choose to publish quarterly results. “Giving companies the option to report semi-annually is not a retreat from transparency,” Atkins said in a column for the Financial Times. “It is time for the SEC to remove its thumb from the scales and allow the market…

The Treasury Department and the Internal Revenue Service issued guidance Tuesday on qualified opportunity zone investments in rural areas under the One Big Beautiful Bill Act.Opportunity zones were originally created under the Tax Cuts and Jobs Act of 2017 as a way to encourage investment in economically disadvantaged areas by providing tax breaks to developers, and the OBBBA expanded the tax break this year. Treasury officials who asked not to be identified noted during a press briefing that this is the first guidance on opportunity zones since the passage of the OBBBA, and more guidance will be issued in the…

U.S. Marines’ Lockheed Martin F35-B jets arrive in formation to José Aponte de la Torre Airport in September 2025, in Ceiba, Puerto Rico. President Trump sent ten F-35 fighter jets to Puerto Rico as part of his war on drug cartels. Miguel J. Rodriguez Carrillo/AFP via Getty Images hide caption toggle caption Miguel J. Rodriguez Carrillo/AFP via Getty Images At a recent hearing on Capitol Hill, FBI Director Kash Patel celebrated the Trump administration’s labeling of drug cartels as foreign terrorist organizations, and told lawmakers the United States should go after narcotraffickers like it did al-Qaida in the wake of…