Business news

• Maltese director of Somali port shot dead

  04-02-2019 09:31 via news.yahoo.com
  A gunman Monday killed the manager of the port of Bossasso, in Somalia's semi-autonomous Puntland state, a local security official said, in an attack claimed by the Islamist Al-Shabaab group."An armed man shot and killed Paul Anthony Formosa who was the construction project manager for DP World.Formosa, a Maltese national, was manager at Bossasso for P&O Ports, a subsidiary of the Dubai-based DP World.
  
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• Health Canada expands recall on Oster toaster ovens that have burned some users

  09-12-2025 15:39 via cbc.ca
  The recall was first issued in September, but was expanded this week to include an additional model. Canadians who own one of the affected models are being asked to stop using the ovens immediately, and contact the company for a free repair kit.
  
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• Air Transat cancels more than a dozen flights in anticipation of pilots' strike deadline

  09-12-2025 15:13 via cbc.ca
  With less than 24 hours until a potential pilots' strike, Air Transat has cancelled a dozen flights that were scheduled for Tuesday and six others scheduled for Wednesday.
  
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• Air Transat cancels 6 flights in anticipation of pilots' strike deadline

  09-12-2025 15:13 via cbc.ca
  With less than 24 hours until a potential pilots' strike, Air Transat has cancelled six flights that were scheduled for Tuesday, the airline confirmed to CBC News in an email.
  
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• FDA recalls blood pressure medication over cholesterol drug contamination

  09-12-2025 03:10 via foxbusiness.com
  
  The U.S. Food and Drug Administration (FDA) issued a nationwide recall of thousands of bottles of blood-pressure medication last week after discovering cross-contamination with another drug.Federal regulators issued the warning on Dec. 1 for roughly 11,100 bottles of the combination medication bisoprolol fumarate and hydrochlorothiazide, sold under the brand name Ziac.Testing revealed that "trace amounts of ezetimibe," a prescription drug used to treat high cholesterol, were
  
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• Trump greenlights Nvidia AI chip exports to China, touts 25% US share

  09-12-2025 01:46 via foxbusiness.com
  
  President Donald Trump announced Monday that the U.S. will permit Nvidia to export its artificial-intelligence (AI) chips to China and other countries, partially reversing a Biden-era restriction on high-end chip exports.  Trump said the U.S. will gain a 25% share from the H200 chip exports and that the trade will be closely monitored to safeguard national security."I have informed President Xi, of China, that the United States will allow Nvidia to ship its H200 products to approved cu
  
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• LARRY KUDLOW: Affordability: Biden’s mess, Trump’s cleanup

  09-12-2025 00:08 via foxbusiness.com
  
  It may well be that there’s an affordability crisis and consumers have no confidence in America or President Trump. But sometimes facts speak louder than political conjectures or biased polls.Black Friday spending surged this year to new highs, fueled by record-breaking online spending that reached $11.8 billion on Black Friday alone, according to Market Data. Online sales on Black Friday made up about 10% of total sales for the entire month of November. The number was just above $111 bill
  
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• White House points to real-life example of Trump's winning economic strategy amid 'affordability' woes

  08-12-2025 23:54 via foxbusiness.com
  
  FIRST ON FOX: The White House is celebrating the reopening of a steel furnace in Illinois that will usher in hundreds of jobs — pointing to it as an example of the president's economic pledge to increase U.S. jobs. "American Steel, American Jobs — that’s what President Trump promised, and that’s what President Trump is delivering," White House spokesman Kush Desai told Fox News Digital Monday. "U.S. Steel’s new plans to restart its Granite City blast furnace an
  
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• Home delistings surge as sellers struggle to get their price

  08-12-2025 22:33 via foxbusiness.com
  
  Home sellers have struggled to get the price they're looking for in the market this year, which has contributed to an influx of delistings, according to a Realtor.com report.Realtor.com's monthly housing trends for November found that delistings in the month of October were up 38% compared with the same month last year. Additionally, delistings over the course of 2025 to date are up about 45% from the same period in 2024, the report found.Roughly 6% of listings since June have been removed from
  
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• These major metro areas are seeing the most moves

  08-12-2025 22:07 via foxbusiness.com
  
  Metros in Missouri, Texas, Indiana and Nevada have the highest homeowner turnover rate, according to industry economists. Realtor.com evaluated the 50 largest metros to determine which areas had the highest turnover rates of homeowners between September 2024 and August 2025.Hannah Jones, Realtor.com senior economic research analyst, told FOX Business that the areas with the highest housing turnover see some combination of affordability and high inventory.HOUSING AFFORDABILITY CRISIS HA
  
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• Pilotless fighter jets could transform aerial warfare

  08-12-2025 21:32 via foxbusiness.com
  
  The future of aerial warfare might be missing one key component – the pilot.FOX Business was exclusively invited to Northrop Grumman’s unveiling of its next-gen autonomous fighter, named "Project Talon." It’s meant to serve as a "loyal wingman" to piloted fighter aircraft as a teammate in combat missions."An autonomous aircraft has the capability of doing its mission completely on its own, which obviously frees up manpower so our war fighters can focus on other parts of the job
  
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• Five reasons investors are feeling good about stocks again

  08-12-2025 19:43 via foxbusiness.com
  
  Anxiety has given way to hope on Wall Street.Stocks are back near records, recovering from a slump spurred by fears that the excitement about the artificial-intelligence boom has outstripped the potential profits.Optimism about AI has proved durable. But other important factors are also powering gains. Here’s a look at some of the reasons investors expect that the rally could go further from here:Stocks currently look very expensive by some measures, such as traditional price-to-earnings r
  
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• Bessent says US 'going to finish the year' with 3% GDP growth despite government shutdown

  08-12-2025 19:15 via foxbusiness.com
  
  Treasury Secretary Scott Bessent said he expects the U.S. to end the year with a better-than-expected 3% gross domestic product (GDP) growth.Bessent appeared Sunday on CBS News' "Face the Nation" and was asked by host Margaret Brennan about whether President Donald Trump was wrong to predict this spring that Americans may buy "two dolls instead of the 30 dolls" and that "maybe the two dolls will cost a couple of bucks more than they normally would.""The economy has been better than we thoug
  
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• Flying Air Transat? Here's what customers need to know as strike looms

  08-12-2025 19:13 via cbc.ca
   Air Transat announced on Sunday it will gradually shut down operations over the next three days in response to a 72-hour strike mandate issued by the union representing its 750 pilots. Here's what travellers need to know.
  
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• Another restaurant in beleaguered San Francisco mall closing

  08-12-2025 18:16 via foxbusiness.com
  
  Shake Shack is closing up its shop inside San Francisco's largest mall as new owners take over the beleaguered property. A Nov. 25 filing with state labor officials revealed that the fast-food chain will permanently close its location inside the Westfield San Francisco Centre on Market Street on Dec. 14, a move that will impact 26 employees.Shake Shack told FOX Business that San Francisco Centre, which has been plagued by soaring vacancies and a string of departures by major retailers, was
  
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• Air Transat, pilots' union say 'progress' being made in talks as strike deadline looms

  08-12-2025 18:11 via cbc.ca
  Air Transat says that "progress has been made" in negotiations with the union representing its pilots, just a day after the Air Line Pilots Association, Intl. issued a 72-hour strike notice.
  
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• Trump warns Netflix-Warner Bros Discovery deal could be a problem, says he’ll be ‘involved’ in decision

  08-12-2025 17:26 via foxbusiness.com
  
  President Donald Trump raised antitrust concerns over the proposed Netflix takeover of Warner Bros. Discovery on Sunday, warning that the combined market share could be a problem.Netflix on Friday agreed to acquire Warner Bros. Discovery's film and television studios and streaming platform, HBO Max, in a cash-and-stock deal valued at $27.75 per Warner Bros. Discovery share. "It’s got to go through a process, and we’ll see what happens… Netflix is a great company, the
  
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• Kiss frontman Gene Simmons prepares to rock Capitol Hill as conservatives rally behind radio royalty reform

  08-12-2025 17:06 via foxbusiness.com
  
  FIRST ON FOX: More than a dozen conservative groups are urging House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., to support the American Music Fairness Act ahead of rock legend Gene Simmons' high-profile testimony before the Senate Judiciary Committee on Tuesday.In what would be a major shake-up for the music industry, the American Music Fairness Act would require AM and FM radio stations to pay recording artists and performers when they broadcast their songs, end
  
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• Paramount launches hostile takeover bid of Warner Bros Discovery, says offer is ‘superior’ to Netflix deal

  08-12-2025 16:01 via foxbusiness.com
  
  Paramount, a Skydance Corporation, announced Monday it has launched an all-cash tender offer to acquire the outstanding shares of Warner Bros. Discovery for $30.00 per share in cash, with the company suggesting it’s a "superior" offer than the recently announced Netflix deal.Paramount's proposed transaction is for the entirety of WBD, including the Global Networks segment that includes CNN and other cable assets. This comes after Netflix agreed to acquire Warner Br
  
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• Senate gears up for 'intense' antitrust hearing in wake of Netflix, Warner Bros deal

  08-12-2025 15:33 via foxbusiness.com
  
  The Senate is readying for an antitrust hearing following the announcement of a blockbuster, multibillion-dollar merger between Netflix and Warner Bros. Discovery.Sen. Mike Lee, R-Utah, who chairs the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights, announced that a hearing on the streaming giant’s $82.7 billion acquisition of Warner Bros. Discovery’s streaming and studio assets would be in the works, claiming the deal had "a lot of antitrust red fl
  
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• Paramount Skydance makes $108B US hostile bid for Warner Bros. Discovery after Netflix move

  08-12-2025 15:33 via cbc.ca
  Paramount Skydance on Monday launched a hostile bid worth $108.4 billion US for Warner Bros Discovery, throwing a wrench into the deal with Netflix in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant.
  
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• Paramount Skydance makes $108B hostile bid for Warner Bros. Discovery after Netflix move

  08-12-2025 15:33 via cbc.ca
  Paramount Skydance on Monday launched a hostile bid worth $108.4 billion US for Warner Bros Discovery, throwing a wrench into the deal with Netflix in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant.
  
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• Jamie Dimon fires back at Trump allies over JPMorgan's subpoena role in Jack Smith probe

  08-12-2025 15:20 via foxbusiness.com
  
  JPMorgan Chase CEO Jamie Dimon is hitting back at critics who allege the bank willingly cooperated with the special counsel’s probe into President Donald Trump’s allies — insisting those claims are baseless and blasting those pushing them.In an exclusive interview with FOX Business’ Maria Bartiromo that aired Monday, Dimon said people "have to grow up" and stop "making up things," arguing the bank only turns over records when legally compelled by a court subpoena —
  
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• Trump says he will sign ‘One Rule’ executive order to federalize AI regulation

  08-12-2025 15:01 via foxbusiness.com
  
  President Donald Trump on Monday posted on social media that he plans to federalize Artificial Intelligence regulation with a "One Rule" executive order this week to help the U.S. continue to lead in the global race for the emerging technology.Trump wrote on his Truth Social platform, "There must be only One Rulebook if we are going to continue to lead in AI.""We are beating ALL COUNTRIES at this point in the race, but that won’t last long if we are going to have 50 States, many of them ba
  
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• Fed expected to deliver third straight rate cut this week amid labor concerns

  08-12-2025 14:44 via foxbusiness.com
  
  Federal Reserve policymakers are expected to cut interest rates at this week's meeting despite inflation remaining above their target amid concerns about a softening labor market.The Federal Open Market Committee (FOMC), the central bank's monetary policy-setting committee, will announce its interest rate decision on Wednesday. Markets widely expect a 25-basis-point interest rate cut, which would mark the third straight meeting with a rate cut – though expectations have shifted over time.M
  
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• Could AI replace seasonal workers?

  08-12-2025 12:00 via foxbusiness.com
  
  Artificial intelligence isn’t just reshaping corporate America – it could also change how companies hire seasonal workers. ReverseLogix CEO Gaurav Saran is helping a growing list of retailers make their returns process more efficient by automating the process through a single platform. The cloud-based, end-to-end returns-management platform, according to Saran, can significantly cut down on the number of hours of time it takes to complete the return process. But, it simultaneous
  
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• America's AI dominance depends on winning the 'power race' against China, energy expert warns

  08-12-2025 04:34 via foxbusiness.com
  
  America’s ability to compete in the global artificial intelligence (AI) race may depend less on computing power and more on the energy required to sustain it."The AI race is definitely an energy race, and one of the things that we've said is that in order to win the AI race, you must win the power race," Nathan Lord, president of nonprofit organization Shale Crescent USA, told FOX Business. "But the only way you're going to win the power race is if you prioritize reliable fuel supply."Elec
  
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• Google reveals the top trending searches of 2025

  07-12-2025 21:57 via foxbusiness.com
  
  Google has unveiled its Year in Search 2025, spotlighting the events, people and pop-culture moments that prompted the biggest spikes in search interest.Charlie Kirk topped this year’s list as the No. 1 trending search in the U.S. The Turning Point USA founder was shot and killed while speaking at a campus event at Utah Valley University on Sept. 10, fueling a nationwide surge in search activity.Rounding out the top five were Netflix’s hit film "KPop Demon Hunters," the viral plush c
  
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• Jamie Dimon predicts AI will not 'dramatically reduce' jobs in the next year

  07-12-2025 20:06 via foxbusiness.com
  
  JPMorgan Chase CEO Jamie Dimon offered an optimistic outlook on artificial intelligence (AI), predicting the technology will not "dramatically reduce" jobs over the next year — provided it is properly regulated.Dimon was asked by Fox News' Maria Bartiromo on "Sunday Morning Futures" what Americans should do to prepare for this "new revolution that's underway with AI," especially given that the technology is "creating efficiencies to the extent that it is cutting jobs."Before answering
  
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• The markets where homebuyers may finally get some relief in 2026, Realtor.com says

  07-12-2025 18:36 via foxbusiness.com
  
  Prospective homebuyers in certain markets may finally catch a break in 2026, according to Realtor.com’s latest forecast.Jake Krimmel, senior economist at Realtor.com, told Fox News Digital that homes in Raleigh, Denver, Phoenix, Northern California and the Pacific Northwest will see prices decline in 2026.THE TOP 3 REASONS HOUSING HAS BECOME SO UNAFFORDABLE IN THE US MARKET"We forecast outright price declines in much of Florida," Krimmel added, noting that Miami is the exception and is pro
  
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