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A Republican plan to cut $250 billion in Medicaid and other health-care spending hit a procedural roadblock in the Senate Thursday, complicating efforts to pass Donald Trump’s massive tax and spending package.The Senate’s legislative rules-keeper judged a series of key health care provisions in the legislation ineligible for a special procedure Republicans are using to bypass the Senate’s normal process so they avoid making concessions to Democrats.Senate Republican leaders are working to re-fashion the provisions to comply with the rules and believe they will be able to restore many of the cuts, according to people familiar with the effort. But…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s “big, beautiful bill” has become an opportunity for special interest groups of all types to make a bid for whatever goodies they think they deserve. Running to more than 1,000 pages, it has become the perfect opportunity to request beneficial changes that, fair or not, will be pretty much drowned out in all the noise. An example is the debate over pass-through companies, and one type in particular. The American tax code has created a whole class of…

U.S. President Donald Trump holds “The Trump Card” as he speaks with journalists onboard Air Force One en route to Miami, Florida, U.S., April 3, 2025.Kent Nishimura | ReutersA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.President Donald Trump’s $5 million Trump Card has attracted strong interest from the overseas wealthy, but it faces legal challenges and questions about the potential market size, according to immigration attorneys.Trump launched the website in June for his new immigration plan,…

A shopper walks past a Nike store, as global markets brace for a hit to trade and growth caused by U.S. President Donald Trump’s decision to impose import tariffs on dozens of countries, in the King of Prussia Mall in King of Prussia, Pennsylvania, U.S., April 3, 2025. Rachel Wisniewski | ReutersNike is expected to report poor quarterly results on Thursday after it warned investors that the low point of its turnaround could come in its fiscal fourth quarter.But since Nike issued that warning in March, conditions have worsened for the sneaker giant, leading some investors to question if the worst…

The U.S. Supreme Court Drew Angerer/Getty Images hide caption toggle caption Drew Angerer/Getty Images The Supreme Court on Thursday allowed South Carolina to bar Planned Parenthood’s access to federal Medicaid funding for non-abortion services. The decision allows states to ban the organization from getting Medicaid reimbursements for cancer screenings and other care not related to abortion. At issue was a provision of the federal Medicaid law that guarantees Medicaid patients the ability to choose their doctors, or in the words of the statute, they are entitled to “any qualified and willing provider.” South Carolina, however, maintained that it could disqualify…

The exterior view of the entrance to Merck headquarters in Rahway, New Jersey, on Feb. 5, 2024.Spencer Platt | Getty ImagesRobert F. Kennedy Jr.’s revamped government panel of outside vaccine advisors on Thursday recommended the use of Merck’s shot to protect infants from respiratory syncytial virus, a temporary reprieve for public health officials and companies concerned about the Health and Human Services secretary’s immunization policy.The group, called the Advisory Committee on Immunization Practices, or ACIP, also voted unanimously to include Merck’s shot in the government’s list of recommended childhood immunizations that receive wide insurance coverage.The votes in favor of the…

Vithun Khamsong | Moment | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Investment firms of the ultra-rich are increasingly investing in alternative assets like real estate and venture capital, according to a new survey by BlackRock. Family offices averaged a 42% portfolio allocation to alternatives in recent months, up 3 percentage points from last year, and are making substantial changes to how they invest that capital.Nearly one-third (32%) of single-family offices planned to increase their…

A still from Disney and Pixar’s animated film “Elio.”DisneyDisney’s Pixar animation studio had its worst opening ever over the weekend — and its problems aren’t unique.”Elio,” the story of a young boy who is mistakenly identified as Earth’s ambassador to the universe, tallied just $21 million in ticket sales during its first three days in theaters, a record low for the studio.The underwhelming performance fits a recent pattern among Pixar’s releases. While franchise films have lured in moviegoers, the studio’s original fare has had far less success in recent years.Just look at 2023’s “Elemental,” which brought in the previous lowest-opening…

2025-06-26T12:36:01Z 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. Pride Month events have seen a decrease in corporate support from brands like Mastercard and Nissan. President Trump’s efforts to end DEI initiatives have put pressure on companies’ diversity efforts. With companies dropping their support of Pride events, organizers are operating at a loss. This Pride Month, “rainbow capitalism” no longer comes…

Global payment company PayPal announced on Thursday that it has inked a deal with the Big Ten and Big 12 conferences to allow student-athletes to receive compensation through the fintech company’s platform.The announcement comes just weeks after a court settlement in the House v. NCAA case, which dramatically shifts the college sports landscape by allowing schools to compensate student-athletes for the first time. The settlement allows individual schools to distribute up to $20.5 million to current athletes over the next year, and provides up to $2.8 billion in compensation to former players across the NCAA.The new agreement will allow Big…