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Elon Musk ramped up his fight against President Donald Trump’s Big Beautiful Bill on Monday, vowing to form a new political party if it passes Congress.”If this insane spending bill passes, the America Party will be formed the next day,” Musk said in a post on X. “Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.”Earlier Monday, Musk vowed to defeat politicians who support Trump’s bill, saying, “They will lose their primary next year if it is the last thing I do on this Earth.”When reached for comment, the White House referred…

2025-06-30T21:12:21Z Share Facebook Email X LinkedIn 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. TPG is the latest private equity firm to bow out of early recruiting for junior talent. The firm sent a letter to potential candidates on Monday saying it won’t hire until 2026. It joins Apollo and General Atlantic in toppling an annual recruiting tradition amid criticisms. Another private equity firm pulled the…

The U.S. Supreme Court is seen on June 24th. Mandel Ngan/AFP via Getty Images hide caption toggle caption Mandel Ngan/AFP via Getty Images The Supreme Court wrapped up its term last Friday — except it didn’t. Yes, the justices are by now heading for the beach, the golf course, or for some summer teaching gig abroad. But like it or not, they will still be working on a steady diet of emergency appeals from the Trump administration, or from immigrants being detained or deported by the administration, and much more. That said, on the last day that the justices were…

Matthew Galeotti, head of the Justice Department’s Criminal Division, delivers remarks during a press conference at the Department of Justice on June 30. Galeotti is shown with Assistant Administrator of the Drug Enforcement Agency Thomas Prevoznik and Administrator for the Centers for Medicare and Medicaid Services Mehmet Oz. Kevin Dietsch/Getty Images hide caption toggle caption Kevin Dietsch/Getty Images The Justice Department has charged a Pakistani national who allegedly orchestrated a $650 million fraud scheme that primarily targeted an Arizona Medicaid program offering addiction treatment and other services for Native Americans. Court papers say the defendant, Farrukh Ali, conspired with at…

2025-06-30T20:01:49Z Share Facebook Email X LinkedIn 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. Apple’s “F1” movie with Brad Pitt captured the checkered flag in its opening weekend. The action film was boosted by a historically high revenue share from Imax screens. Although Apple will celebrate this win, its next films might not get the same Imax lift. Apple’s flashy “F1” movie took first place at…

The student debt collection machine has been turned back on, and it could mean bad news for millions of borrowers later this summer.President Donald Trump’s announcement that collections on defaulted student loans would restart on May 5 left borrowers behind on payments facing a scramble: make payments to avoid entering default, or find a way to get out of default to avoid wage and federal benefits garnishment.A new analysis from TransUnion, a credit reporting firm, showed an uptick in borrowers at risk of facing those consequences this summer. It found that 31% of borrowers have a payment of more than…

Mr. Wonderful’s key to success for young entrepreneurs may not be the answer that aspiring startup founders want to hear.”Shark Tank”‘s Kevin O’Leary, who goes by the nickname, appeared on a Monday episode of the podcast “Diary of a CEO,” where he shared his advice to 21-year-old entrepreneurs who are wondering where to start.”Go work for 24 months in a sector you love, that you’re passionate about. Even if they don’t pay you, go in there and be an apprentice,” he said. “Do that first.”To those who don’t want to work for someone else, he says it’s necessary to do…

President Donald Trump has found a new way to criticize Federal Reserve Chairman Jerome Powell.On Monday, White House press secretary Karoline Leavitt said Trump sent a handwritten personal note to Powell, the latest in a string of complaints about the Federal Reserve’s refusal to cut the benchmark interest rate.”Jerome — You are as, usual, ‘Too Late.’ You have cost the USA A Fortune — and continue to do so — You should lower the rate — By A Lot!” Trump wrote.Powell has repeatedly said that the Fed is waiting to see the effect of Trump’s trade policies before making interest…

Workers repaint the NASA logo on the Vehicle Assembly Building at the Kennedy Space Center on May 28, 2020 in Cape Canaveral, Florida.Joe Raedle | Getty ImagesNASA’s live programming, including rocket launches, spacewalks and views of Earth from space, will begin streaming on Netflix this summer.NASA said the move is part of its effort to reach a global audience, according to a press release. The agency noted that the content will remain free and ad-free on the NASA app and website, where it already has live programming.NASA+ launched in 2023 as a way to give the public easier access to…

The politics surrounding taxes and the larger economy are revealing new opportunities in some municipal bonds and more reasons to sell others, according to a panel of experts.Bonds connected to some universities and hospitals will likely see the biggest negative impact from the passage of the One Big Beautiful Bill Act’s package of higher taxes on college endowments and cuts to Medicaid spending. But the industry’s fear that the federal exemption for most interest income could be eliminated has proven unfounded, three portfolio managers noted in a discussion about municipal bonds at Morningstar’s conference in Chicago last week.President Donald Trump’s…