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From the moment Donald Trump and Elon Musk joined forces, betting in Washington held that the president’s bond with the First Buddy who bankrolled his comeback election win wouldn’t last.It didn’t.A relationship that blossomed at the height of the 2024 presidential campaign and deepened as Musk joined the new administration to slash the federal bureaucracy unraveled this week in spectacular form, with the world’s richest man declaring his opposition to tax legislation that’s the centerpiece of Trump’s domestic agenda.With posts on social media urging lawmakers to reject Trump’s “Big Beautiful Bill,” Musk exposed a rupture that had been growing between…

Bottles of the American whiskey Jack Daniel’s are offered for sale in a liquor store on November 27, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesShares of Jack Daniel’s-maker Brown-Forman plunged more than 18% on Thursday after the company reported quarterly earnings that came in below analyst estimates, weighed down by the impact of tariffs and weak discretionary spending on alcohol.”While our results did not meet our long-term growth aspirations, we made important progress in an exceptionally challenging macroeconomic environment,” CEO Lawson Whiting said in the company’s earnings release.Here’s how the company performed for its fiscal fourth quarter of 2025,…

The Supreme Court is seen on April 7 in Washington, D.C. Kayla Bartkowski/Getty Images hide caption toggle caption Kayla Bartkowski/Getty Images A unanimous Supreme Court ruled that Catholic Charities can opt out of participating in a state unemployment compensation program in Wisconsin. The opinion by Justice Sonia Sotomayor reversed a state Supreme Court decision. “It is fundamental to our constitutional order that the government maintain ‘neutrality between religion and religion,'” Justice Sonia Sotomayor, one of the court’s three liberals, wrote in her opinion for the court. “There may be hard calls to make in policing that rule, but this is…

A Republican attempt to block states from enforcing new artificial intelligence rules over the next decade has drawn growing bipartisan objections, exposing tension in Washington over allowing for more unchecked AI development.The proposal, buried on pages 278 and 279 in the sweeping tax bill passed by the House last month, has drawn sharp criticism from Republican Representative Marjorie Taylor Greene and Senator Marsha Blackburn, as well as Democratic Senators Ed Markey and Elizabeth Warren. More than 200 state lawmakers from both parties also urged Congress this week to scrap the measure.”We have no idea what AI will be capable of…

In 2021, during the peak of the COVID-19 pandemic, Atlanta-based game concept artist Jasmine James was trying to stay creative.James, who runs the Instagram cosplay account Cutiepiesensei with over 500,000 followers, realized there wasn’t much practical, anime-inspired clothing in the market. Anime-inspired fashion, she told Business Insider, was largely restricted to huge men’s jackets or merchandise items that weren’t wearable on a daily basis.So James and her husband spent more than $30,000 of their savings to launch Fira X Wear, a swimwear brand that blends cosplay elements with practical apparel.Since its initial launch, the brand’s product range has expanded to…

2025-06-05T13:57:38Z 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. As an interior designer, there are a few things I’d never waste money on for outdoor spaces. I wouldn’t put fabrics that fade too easily, like cotton, linen, polyester, and nylon, outside. Plastic furniture, inflatable hot tubs, and black-top dining tables don’t belong in my backyard. Your outdoor space should be an…

Shai Gilgeous-Alexander #2 and Jalen Williams #8 of the Oklahoma City Thunder react on the bench against the Minnesota Timberwolves during the fourth quarter in Game Five of the Western Conference Finals of the 2025 NBA Playoffs at Paycom Center on May 28, 2025 in Oklahoma City, Oklahoma. Matthew Stockman | Getty ImagesNBA teams notched $1.62 billion in sponsorship revenue this season — an increase of 8% since last year, and 91% from $850 million five years ago, according to third-party data firm SponsorUnited.While the volume of deals was up just 2.5% since last year, the partnerships got bigger and…

Key PointsNuclear energy startups are gaining steam with private investment firms of the ultra-rich. Billionaire Barry Sternlicht’s family office invested in Zeno Power, a nuclear battery firm, in May.These deals are set to grow with family offices wanting to capitalize on the AI’s power demands and President Trump’s recent executive order to boost nuclear energy in the U.S.A 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. Starwood Capital’s Barry Sternlicht made his multibillion-dollar fortune in…

What is the true cost of tariffs? It’s debatable — not only because of political biases, but also because it’s far from straightforward to calculate just how much of the levies consumers end up paying.Even so, it’s possible to estimate how much the price of common items could increase under President Donald Trump’s various tariff proposals. For products like clothing imported from China and Vietnam, U.S. shoppers could have to pay a lot more.To illustrate, retail consultancy group AlixPartners created pricing models exclusively for CNBC, looking at the price of a men’s sweater and men’s shoes made in both China and…

My father-in-law, Frank Noble, retired at the age of 55 after a successful career in forestry in Australia.At 86, he’s now been retired for roughly the same amount of time as he worked. He said that if given his time again, he’d still follow the same path and choose to retire early.After chatting with him about his decision, I learned key lessons I plan to follow now that I’m 40 and working to plan my retirement.Own your home outright and have several private investments before retiringOne key thing that made Frank’s early retirement much easier was that he owned his…