With bean prices increasing and tax deductions for office snacks set to vanish in 2026, finance teams must monitor rising coffee costs. The One Big Beautiful Bill Act, signed into law by President Donald Trump on July 4th, eliminates the 50% tax deduction for in-office meals and snacks starting January 1st 2026. As a result,…

Wells Fargo has suspended all travel to China after a banker was blocked from leaving the country, Reuters reports. The move follows Chenyue Mao, a Shanghai-born and Atlanta-based managing director at the banking giant, being subjected to an exit ban after she recently entered China. “We are closely tracking this situation and working through the…

The European Securities and Markets Authority (ESMA) has cautioned crypto companies against misleading customers regarding the regulatory status of their products. In a statement, ESMA highlighted that the practice of offering both regulated and unregulated products on the same platform poses significant investor protection risks. Under the EU’s new crypto rules, companies must obtain a…

NASA is set to lose around 2,145 senior-ranking employees as part of a staff reduction initiative, according to a report by Politico. Most of those leaving hold GS-13 to GS-15 positions, and the agency is offering early retirement, buyouts, and deferred resignations. Bethany Stevens, a spokesperson for NASA, said: “NASA remains committed to our mission…

Americans’ outlook on inflation was little changed last month as households upgraded their views on the state of their finances and ability to get credit. The New York Federal Reserve monthly Survey of Consumer Expectations shows that respondents in June saw inflation at 3% 12 months from now, the same level it was at in…

Intel has initiated significant layoffs, affecting thousands of employees across various divisions. New CEO Lip-Bu Tan had previously warned workers to expect these cuts as the company aims to streamline operations following years of declining sales and technical challenges. The layoffs will particularly impact the Intel Foundry division, which plans to cut 15% to 20%…