• CBS is canceling its most-watched talk show, "The Late Show With Stephen Colbert."
• The show, which has been running for more than three decades, will end in May 2026.
• CBS said the cancellation was "purely a financial decision."

CBS announced on Thursday that "The Late Show With Stephen Colbert" will be canceled after next year, ending a series that has been running for more than three decades.

Colbert announced the talk show's cancellation on Thursday via a clip of his new episode, posted on Instagram.

"Before we start the show, I want to let you know something I found out just last night," he said. "Next year will be our last season. The network will be ending 'The Late Show' in May."

His announcement was followed by a long wave of boos from the audience.

Colbert took over as host of the talk show previously helmed by David Letterman in 2015, and has been running it for the last 10 years. The show was first aired in 1993.

CBS executives said in a statement to The New York Times on Thursday that the cancellation was "purely a financial decision against a challenging backdrop in late night."

"It is not related in any way to the show's performance, content or other matters happening at Paramount," the statement to the NYT added.

Ratings from the American audience measurement company, Nielsen, seen by several news outlets, show that "The Late Show" performed well in its timeslot. The show notched 2.417 million viewers across 41 new episodes, and was the only late-night show to gain viewers in 2025.

The cancellation comes shortly after Paramount, on July 1, agreed to pay President Donald Trump a $16 million settlement over a lawsuit the president filed against it. The lawsuit accused CBS's "60 Minutes" of "deceptive editing" of his interview with presidential rival Kamala Harris.

Colbert referenced the settlement in an episode on July 14, titled "A Big Bribe."

Making a joke about the settlement, he said, "As someone who has always been a proud employee of this network, I am offended, and I don't know if anything will ever repair my trust in this company. But just taking a stab at it, I'd say $16 million would help."

Lawmakers have sounded out concerns about the show's cancellation, asking CBS if the decision was political in nature.

Sen. Adam Schiff of California was one of the first to comment on it.

"Just finished taping with Stephen Colbert who announced his show was cancelled," Schiff wrote in a late Thursday evening X post.

"If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better," Schiff added.

Sen. Elizabeth Warren of Massachusetts released a statement just hours after the cancellation announcement.

"CBS canceled Colbert's show just three days after Colbert called out CBS owner Paramount for its $16 settlement with Trump — a deal that looks like bribery. America deserves to know if his show was canceled for political reasons," Warren said.

Trump has been a regular topic on Colbert's show — particularly during his opening monologues. He's also touched on some of the administration's major scandals, including in his Wednesday episode, where he mentioned Trump and the disgraced financier, Jeffrey Epstein.

In September, Trump criticized Colbert in a Truth Social post.

"Why would they be wasting time and the public's money on this complete and total loser? He is not funny, which he gets paid far too much to be, he is not wise, he is VERY BORING, and his show is dying from a complete lack of viewers," Trump wrote in the post.

Representatives for CBS and Paramount did not respond to a request for comment from Business Insider.

• Noorman Mubarak worked a comfortable, glamorous job as a flight attendant for Singapore Airlines.
• But he felt unfulfilled, saying he was wasting his life serving coffee in the skies.
• In 2017, he started a hawker stall, working 18 hours in front of the stove. Now, it has 31 outlets.

When Mohammed Noorman Bin Mubarak Ahmad opened his first hawker stall in 2017, he woke up at 2:45 a.m., after just three hours of sleep.

While most of Singapore slumbered, he cooked spicy sambal and marinated chicken and stocked up his tiny stall for a busy day. He squeezed the prep in before his oil and gas job, then ran back after work to serve dinner.

The long hours in front of the stove were a sharp departure from his cushy job as a flight attendant with Singapore Airlines.

Noorman's early alarms and career pivots paid off. Eight years later, he has expanded the first stall into a chain business featured in the Michelin Guide.

Seven years travelling the world, and feeling unfulfilled

Noorman, now 46, has been working in kitchens since he was six.

His father used to run a hawker stall, and he helped out before and after school. After studying a degree in Business Management in Australia, he came back to help his father with the stall, which sold Malay food. After many disagreements on how to run it, he decided he needed a break.

"I just needed to get out," he said. He joined Singapore Airlines as an air steward.

His seven years working as a flight attendant for Singapore Airlines, from 2004 to 2011, were glamorous as he flew to South Africa and Europe. He said he was paid about 5,000 Singapore dollars monthly in the role.

"I thought, this is the life. I'm not going to get married anymore. I'm going to stay single and travel," Noorman said. "For seven years, I forgot about all the things that I learned and aspired to be."

Eventually, a sense of emptiness crept in.

"The job was too easy. Just asking, 'Do you want coffee or tea, chicken or whatever?'" he said. "I didn't need to have done a degree for it."

In 2011, he quit his job at Singapore Airlines and worked a maintenance gig at an oil and gas company in Singapore. Shortly after he quit his job, he met his now wife, who was also a flight attendant at the time.

He stayed there for seven more years, working his way up to a managerial role.

Setting up Nasi Lemak Ayam Taliwang

Still, he wanted to build something of his own. And when Yishun Park Hawker Centre was under construction, right in front of his house, he decided to take the leap.

He got a friend to partner with him, and they each put SG$20,000 of their savings into the stall. He started Nasi Lemak Ayam Taliwang in 2017.

Noorman decided to add a twist to the classic nasi lemak recipe. His wife, who is Indonesian, whipped up a mean ayam taliwang — a spicy grilled chicken dish — so they decided to combine the two.

For the first few months, business was slow. He said he earned less than SG$5,000 monthly, which felt like a huge step back.

"I didn't want to be earning the same amount as I did about 10 years back, and working double the hours," he said.

He ran the stall while working his 9-to-5 job at the oil and gas company, meaning he would come back to the stall after work and feed a hungry dinner crowd until 10 p.m. Then he got up the next morning to prep before work.

"The thought of working almost 18 hours a day, every day, for the next two to three years, that was the most challenging," Noorman said.

The business was also hard hit by the COVID-19 pandemic, which saw Singapore go into a full lockdown.

Then, in 2021, his stall was included in the Michelin Guide.

Sales started picking up, and Noorman scaled up massively.

Now, Nasi Lemak Ayam Taliwang has 31 stores around the island city, including one in the food court in the glitzy Marina Bay Sands mall. He said daily sales for each of his stalls range from SG$800 to SG$4,000.

A spicy dish with tender meat and fragrant rice

When I visited Noorman's first stall in Yishun Park Hawker Centre, I tried the SG$7.60 Nasi Lemak Ayam Taliwang, the most popular item.

Nasi lemak is a rice dish with origins in Malaysia, served with roasted peanuts, an egg, anchovies, a sweet and spicy chili paste called sambal, and cucumber slices.

The staff ladled a generous heap of chili paste onto the grilled chicken. The spice did not overpower the savory marinade.

The meat was tender and fell off the bone. The sambal added sweetness to the dish, and the jammy egg made it rich and creamy.

Jay Sim, a regular who has been buying the stall's SG$6.60 double chicken wings set fortnightly for about five months, said it's one of the best nasi lemak stalls he's tried in Singapore.

Sim, a 21-year-old TikTok streamer, said the chicken was always crispy, and the rice, flavored with pandan leaves, was fragrant.

Hands off the stove, and happier than ever

Now, with a workforce of about a hundred people manning his 31 outlets, Noorman said he has not picked up a ladle in six months.

"If you have the opportunity to sit down, relax, play golf, travel, and still get paid, you will want to do that rather than work in a hawker center for 18 hours," he said.

But it was important to carry on his family's hawker legacy and pass it down to his children.

"It's so tiring, my feet were always sore," he said. "But I did it because I want to create this legacy."

• Extreme flooding in central Texas has left at least 78 dead.
• Another 41 people remain missing, officials said.
• 10 girls from a summer camp are among those still missing.

On what should have been a festive Fourth of July, disaster struck in central Texas.

Flash flooding left at least 68 dead in Kerr County, including 40 adults and 28 children, Sheriff Larry Leitha said during a Sunday press conference.

During a separate press conference, Texas Gov. Greg Abbott said an additional 10 people were dead in the broader central Texas area, bringing the total death toll close to 80.

Abbott said another 41 people are still missing across the affected area, including 10 children and one counselor from Camp Mystic, a Christian camp for girls along the Guadalupe River.

Abbott signed a federal disaster declaration on Saturday, which President Donald Trump signed on Sunday. Abbott also issued a disaster declaration for six Texas counties in addition to the 15 he identified on Friday, when heavy rains first caused the flooding.

On Truth Social, Trump said his administration was working with state and local officials to respond to the flooding.

"Melania and I are praying for all of the families impacted by this horrible tragedy," Trump wrote on Saturday. "Our Brave First Responders are on site doing what they do best. GOD BLESS THE FAMILIES, AND GOD BLESS TEXAS!"

The X account for Elon Musk's Starlink, SpaceX's satellite internet system, is offering support to affected residents. Musk has a strong presence in Texas through his companies Tesla, X, and SpaceX.

"In support of those impacted by flooding in Texas, Starlink is providing Mini kits for search and rescue efforts — ensuring connectivity even in dead zones — and one month of free service for thousands of customers in the region, including those who paused service so they can reactivate Starlink during this time," the post said.

Officials said over 12 inches of rain fell in the county on Friday. The National Weather Service first issued a flash flood warning at 4 a.m. on Friday.

It extended the flood watch until Monday at 7 p.m., saying there was "a threat of flash flooding from slow moving heavy rains overnight and through the day on Monday."

The region is a popular vacation destination and home to multiple summer camps for children. Camp Mystic in Hunt has about 750 campers. Two days after disaster struck, officials said they remain hopeful they can find survivors.

In a statement posted to its website, the Heart O' the Hills, another girls' camp based in Hunt, said its director, Jane Ragsdale, had died in the floods.

"We have received word that Jane Ragsdale did not make it," it said. "We are mourning the loss of a woman who influenced countless lives and was the definition of strong and powerful."

It added that the camp was not in session as the flooding hit, and that "most of those who were on camp at the time have been accounted for and are on high ground."

Texas Lt. Gov. Dan Patrick said during an earlier press conference that the Guadalupe River rose 26 feet in just 45 minutes, washing away bridges and buildings in a wide area.

On Facebook, parents and community members have circulated flyers with contact numbers, urging the public to help locate the missing children.

Kerr County has an estimated population of about 53,900, according to a 2024 count by the US Census Bureau. The county sits in the Hill Country region of Central Texas, which includes cities like San Antonio and Austin. Beyond the Guadalupe River, the region is home to several others, including the Colorado, Concho, and Blanco Rivers.

This is a developing story. Check back for updates.

• An Air India Boeing 787 crashed less than a minute after takeoff on Thursday.
• The crash comes as both Boeing and Air India are trying to turn themselves around.
• Attorneys and aviation experts said no conclusions could be drawn until the investigation ended.

Thursday's fatal crash of an Air India Boeing 787 shortly after takeoff comes as both the airline and Boeing try to revive their public images.

After 2024 became an annus horribilis for Boeing, 2025 is crucial for the planemaker to show it is successfully overhauling its processes.

CEO Kelly Ortberg, who took over last year and has made the turnaround the centerpiece of his leadership, has scrapped plans to travel to next week's Paris Air Show, CNBC and Bloomberg reported. The event is a crucial industry showcase. Neither Boeing nor Air India responded to requests for comment from Business Insider.

On Thursday, Ortberg shared the company's "deepest condolences" to everyone affected and said a team stood ready to support the investigation.

After visiting the crash site Friday morning, Air India CEO Campbell Wilson said in a video statement, "We know that the investigations will take time but we will be fully transparent and will support the process for as long as it takes."

"Air India will continue to do everything we can to care for those affected by this tragedy, and to uphold the trust placed in us," he added.

'The crash derails Boeing stock's positive momentum'

When an Alaska Airlines 737 Max lost a door plug during a January 2024 flight, regulators capped Boeing's production of the type. A seven-week strike then shut down key facilities, further hurting revenue.

Boeing ended 2024 as the Dow Jones' biggest loser, as its share price fell 31%. Investors had been reassured by Ortberg's work to turn the company around, and the stock had risen more than 20% in 2025 before the crash.

It dropped about 4% after Thursday's crash and fell more than 3% Friday morning.

Morgan Stanley analysts said Thursday that the crash "derails the positive momentum on Boeing's stock."

Jeff Windau, a senior industrials analyst for Edward Jones, said in a research note that he expects near-term volatility and raised the possibility of enhanced scrutiny on Boeing's processes.

"However, at this time, we do not feel there will be a long-term impact to production," he added.

Air India has been working to turn itself around

Following decades of state ownership and huge losses, Air India was acquired by the Tata Group in 2022. The airline has expanded with hundreds of additional flights, flying 60 million customers to 103 destinations through 2024.

The new owners invested billions, and the airline has ordered hundreds of planes to replace its aging fleet.

In a December interview with BI, Wilson compared his work revitalising Air India to "drinking from a firehose."

He added that he thought the turnaround was close to completion, but said there were supply-chain constraints. "Until we upgrade the aircraft, then people won't believe that the transformation has happened," Wilson said.

Alan Tan, an aviation law professor at the National University of Singapore, told BI that Air India in particular would have an immediate hit to customer perception.

"But as other leading airlines facing crises have shown, these are not insurmountable," he added. "Transparency and accountability in investigations, and consistent messaging to the public, will hopefully reduce the risks of a media spectacle."

A lengthy investigation

It will take a thorough and lengthy investigation before there are answers about what caused the crash.

Attorneys who have battled Boeing in the courts were among the people BI spoke to who were hesitant to draw any conclusions.

"The fact that this tragedy involves a Boeing aircraft does not necessarily mean that there's something wrong with the actual aircraft — as distinguished from issues surrounding maintenance, or even products that are not Boeing's, such as the engines," said Robert Clifford, lead counsel for the families of victims of the 2019 Ethiopian Airlines crash, in which a 737 Max crashed shortly after takeoff, killing more than 150 people.

He added that a quick and efficient investigation is necessary to "help calm the public."

Thursday's incident was the first fatal crash and total hull loss of a Boeing 787 Dreamliner, one of the most advanced passenger jets, which entered service in 2011.

The model has faced some criticism from whistleblowers. Last year, Sam Salehpour, a quality engineer at Boeing, told NBC he observed "shortcuts to reduce bottlenecks" in manufacturing 787s. Boeing responded that it was "fully confident in the 787 Dreamliner."

On Thursday, Salehpour's attorneys urged the Federal Aviation Administration to release a report investigating his claims.

Richard Aboulafia, managing director at Aerodynamic Advisory, told BI, "It's a terrible tragedy, but I just don't see how this impacts anything [for Boeing]."

"Unless it's the unlikely event that they do find a design or manufacturing flaw, but after all these years, both for this type of aircraft and this particular aircraft, that's not normal," he added.

• Coach's bet on bag charms is paying off.
• The CEO of Coach's parent, Tapestry, said the brand's bag charms and straps contributed to its success.
• She said Coach's $95 Cherry Bag Charm was a "Gen Z favourite."

Coach is known for its handbags, but its little dangly keychains and trinkets are boosting its business, too.

The CEO of Coach's parent company, Tapestry, Joanne Crevoiserat, spoke in an earnings call on Thursday about the success of bag charms.

"Our bag charms and straps added to our success, providing consumers with further opportunities for self-expression, with the 'Cherry Bag Charm' remaining a Gen Z favorite," Crevoiserat said to investors.

Bag charms vary largely in size and form, from miniature stuffed toys and toy figurines to beaded chains. Style experts BI previously spoke with said charms function as a way to express the wearer's identity and personality.

Coach has a wide selection of charms, ranging from $20 for a simple bow charm to $195 for the spider bag charm. It also sells a collection of metallic chains that can be hooked onto bag straps.

The Cherry Bag Charm, which Crevoiserat called a "Gen Z favorite," retails on Coach's website for $95.

Crevoiserat's comments come as retail brands have been betting big on bag charms to win the support of younger customers. Brands from KFC to Balenciaga have released bag charms — either in the form of limited edition drops or permanent collections.

Crevoiserat said nearly 70% of Coach's 900,000 new customers in North America were Gen Z and millennials.

Representatives for Tapestry did not respond to a query from Business Insider on the amount of sales the bag charms brought in in the latest quarter.

Tapestry reported a 7% revenue increase in its latest quarter earnings compared to the year before, with $1.58 billion in sales.

Coach, in particular, saw a 13% year-on-year growth, with sales of more than $1.29 billion. The brand has 324 stores in the US and 599 internationally.