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2025-06-24T23:30:02Z 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. Disney laid off workers for the second time this month, this time in product and technology. The layoffs, under Adam Smith, affected under 2% of the group. Disney is still hiring in product and technology despite the head count reductions. Disney has laid off workers for the second time this month, this…

Some financial windfalls are all about the timing — and luck: A handful of California gold nuggets in 1848. A SoHo loft in 1984. Bitcoin in 2013. A home mortgage rate in 2020.I’ve made peace with missing out on some of life’s chances to accidentally inflate my financial standing in the world. But the one that has always made me slightly sick to my stomach is missing out on the late 2016 Chase Sapphire Reserve credit card points bonanza.Now, my painful case of FOMO has been cured.Last week, Chase said it was revamping the Sapphire Reserve — and upping its…

FedEx reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.The company achieved its “structural cost reduction target, in the face of ongoing headwinds,” CEO Raj Subramaniam said in a media release.”Looking ahead, I’m confident that our transformation initiatives, which are focused on integrating our networks and further reducing our cost-to-serve, will create meaningful long-term value,” he said.FedEx stock dropped about 5% in after-hours trading as the company offered current-quarter profit guidance that came in slightly below what…

2025-06-24T20:29:48Z 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. Starbucks is changing how it charges customers for customized beverages. The chain now charges 80 cents for any combination of sauces or syrups, it said on Tuesday. It’s the latest change that Starbucks has made on CEO Brian Niccol’s watch. The cost of your next Starbucks drink with extra syrup shots or…

The Public Company Accounting Oversight Board today sanctioned the firm Michael T. Studer CPA and Michael Studer for repeat violations related to a 2019 audit of JMU Limited, a public company headquartered at the time in China.Studer failed to perform testing of over 96% of JMU’s reported revenue, falsely entered workpaper sign-offs for auditors who had not performed the work, and failed to appropriately supervise an engagement team that included a newly-hired contract auditor, among other violations.”When auditors blatantly fail to do their work, it puts investors at risk,” PCAOB chair Erica Williams said in a statement. “The PCAOB will…

The Association of Certified Fraud Examiners presented its 2025 Cressey Award to Ngozi Okonjo-Iweala, director-general of the World Trade Organization, during its global fraud conference in Nashville.”The Cressy award is the highest honor awarded by the ACFE and is presented to an individual who has demonstrated a lifetime of achievement in the detection and deterrence fraud,” said ACFE CEO John Warren during the conference Monday. “In her remarkable career spanning more than 40 years, she’s informed global economic policy and supported international development in a variety of roles. She became the first woman to serve as Nigeria’s foreign affairs and…

Carnival shares climbed roughly 7% on Tuesday after the cruise line posted stronger-than-expected second-quarter results and raised its full-year guidance.According to the company’s earnings report, the cruise operator posted adjusted earnings of 35 cents per share while beating analyst estimates of 24 cents, according to LSEG. Adjusted revenue came in at at record $6.3 billion compared with the expected $6.2 billion.Net income rose to $565 million, which was a significant increase from $92 million a year ago.CEO Josh Weinstein said on Tuesday’s earnings call with analysts that there was a “strong momentum” across all of the company’s brands.Due to outperformance,…

The Internal Revenue Service’s Criminal Investigation unit has been experiencing ups and downs in recent years due to budget boosts and cuts from Congress.A report released Monday by the Treasury Inspector General for Tax Administration found that from fiscal years 2019 to 2023, CI’s resources grew a great deal. Its budget increased by $201 million (35%), rising from $578 million to $779 million. Staffing levels also increased, resulting in more investigations being opened. As of March 20, 2025, CI’s special agent staffing has been minimally affected by recent government-wide cost-cutting measures. The IRS initially received $79.4 billion from the Inflation Reduction…

President Donald Trump is ratcheting up pressure on Republican holdouts on his multitrillion-dollar tax bill while he’s participating in the annual NATO Summit in the Netherlands this week amid entrenched GOP divisions that put a self-imposed July 4 deadline at risk. Among the remaining areas of contention is increasing the state and local tax deduction, a critical issue for House lawmakers from New York, New Jersey and California. Other unresolved issues include fights over Medicaid and the size of spending cuts. Deputy Treasury Secretary Michael Faulkender said Tuesday on CNBC that he’s confident “the president will continue to chime in as his…

The hype for energy drink-maker Prime Hydration is drying up.When YouTubers Logan Paul and KSI launched the Prime brand in 2022, demand was so high that a secondary black market formed among UK school children.But the buzz didn’t last. In 2024, the company’s UK revenue fell about 70% from the previous year, according to public filings. The company pulled in around £33 million (roughly $45 million) in 2024 drink sales, compared to £120 million (about $163 million) the prior year.Consumer interest in its brand has moderated, the company wrote. It’s entering a “strategic review process to transition from an initial…