Business news

• Samsung says Note 7 recalls will cost at least $5.3B

  14-10-2016 10:39 via cbc.ca
  
  Samsung Electronics said Friday that discontinuing the Galaxy Note 7 smartphone, which is prone to overheat and catch fire, will cost it about $3 billion US in the current and coming quarters, raising total costs from the recalls to at least $5.3 billion.
  
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• Pay transparency in job listings is less transparent than you might think

  29-04-2024 10:00 via cbc.ca
  
  With pay transparency laws now in effect in B.C. and passed in P.E.I., Newfoundland and Ontario, companies are called upon to include salary ranges with job postings. But advocates say some employers post such wide pay ranges it counteracts the spirit of legislation designed to help close the pay gap.
  
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• Open banking could spur competition, but fintechs say Canada's moving too slowly

  29-04-2024 10:00 via cbc.ca
  
  Federal efforts to bring "open banking" to Canada are being welcomed by players in the industry — but there's also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions.
  
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• London Drugs closes stores until further notice due to cyberattack

  28-04-2024 23:19 via cbc.ca
  
  Retail and pharmacy chain London Drugs says it was the "victim of a cybersecurity incident" Sunday and has shuttered its stores across western Canada until further notice.
  
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• Feds give financial boost to biofuel sector amid growing U.S. competition

  28-04-2024 10:00 via cbc.ca
  
  Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations.
  
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• Butter lovers to have new Ritz cracker offering in limited-edition flavor, plus gold-bar opportunity

  27-04-2024 19:43 via foxbusiness.com
  
  One of the nation’s best-known snacks — Ritz, the butter-flavored cracker — announced a new limited-edition Buttery-er Flavored Crackers will hit store shelves on April 29, 2024. The catchy slogan is "Live Buttery-er."The limited-edition variety is said to be infused with extra buttery flavor. PASSOVER'S DIETARY RESTRICTIONS LED TO NEW MARKET DEMOGRAPHIC FOR JEWISH FOOD COMPANY: GLUTEN-FREE CONSUMERSThe company said that Ritz Buttery-er Crackers "capture the buttery f
  
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• Vacationing at these destinations? You will pay tourist taxes, fees

  27-04-2024 14:00 via foxbusiness.com
  
  Travelers may encounter a tourist tax or fee depending on their destination.That additional travel cost could come up if a person visits one of the slew of places around the world that have such charges. Factors that spurred the taxes can vary, ranging from climate change to overtourism, according to reports.CLICK HERE TO READ MORE ON FOX BUSINESSFive locales with tourist taxes or fees include:The roughly $5.35 daily tourist access fee for Venice, home to the Rialto Bridge, Doge’s Palace a
  
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• Billionaire forced to demolish Nantucket beach home

  27-04-2024 14:00 via foxbusiness.com
  
  Starwood Capital Group CEO Barry Sternlicht reportedly had to raze his beach house on the Nantucket coast.The demolition of the house, which the billionaire has owned for over a dozen years, occurred earlier in the week, according to the Nantucket Current.The plot of land where the house stood on the Massachusetts island has borders to both the beach and Hummock Pond.CLICK HERE TO READ MORE ON FOX BUSINESSSternlicht was driven to raze the home, which was on steel girders, by severe erosion of th
  
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• America crowns its best-dressed CEOs

  27-04-2024 12:00 via foxbusiness.com
  
  JPMorgan Chase chief Jamie Dimon doesn't just run the largest bank in the U.S. – he looks good doing it, according to a survey of Americans that crowned him the best-dressed CEO in the country.The poll of 1,000 Americans conducted by Custom Ink found Dimon was the top pick from respondents, with the analysis stating his "professional attire epitomizes the timeless appeal of classic, tailored elegance."The survey found Americans also consider JPMorgan Chase to have the best-dressed employee
  
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• Rare $1 bills with printing error could be worth thousands: 'They're still out there'

  27-04-2024 11:00 via foxbusiness.com
  
  If you’ve got a few dollar bills in your wallet, you might want to inspect the greenbacks before you spend them. Some U.S. coin and currency collectors are reportedly willing to pay thousands of dollars for rare $1 bills that have a certain printing error made by the U.S. Bureau of Engraving and Printing."It's very rare that the Federal Reserve would mess up an order, and then it reaches circulation," Chad Hawk, vice president of PMG, a professional paper money grading company headqua
  
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• Anne Heche estate owes $6M in creditor claims

  27-04-2024 10:30 via foxbusiness.com
  
  Almost two years after her death, the estate of late actress Anne Heche is not yet "in a condition to be closed."The "Six Days, Seven Nights" actress died on Aug. 11 of "inhalation and thermal injuries," and the manner of death was listed as an accident, according to the LA County Department of Medical Examiner.More than $6 million in outstanding creditor claims are still pending on Heche's estate, according to court documents obtained by FOX Business.The administrator of the estate, Heche's old
  
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• Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit

  27-04-2024 00:30 via foxbusiness.com
  
  Massachusetts Senate candidate John Deaton isn’t letting the busy campaign trail prevent him from fighting the Securities and Exchange Commission on behalf of the crypto industry.FOX Business was first to report that the crypto-enthusiast and lawyer, now turned political candidate, filed an amicus brief in the Southern District of New York on Friday in support of the U.S.’s largest crypto exchange, Coinbase, in its ongoing legal battle with the SEC.Deaton says he’s intervening
  
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• Biden administration delays plan to ban menthol cigarettes

  27-04-2024 00:00 via foxbusiness.com
  
  The Biden administration delayed a plan in the works since 2021 to ban menthol cigarettes, the White House confirmed on Friday. "This rule has garnered historic attention and the public comment period has yielded an immense amount of feedback, including from various elements of the civil rights and criminal justice movement," HHS Secretary Xavier Becerra said in a statement shared with FOX Business. "It’s clear that there are still more conversations to have, and that will take s
  
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• LARRY KUDLOW: Biden will use every legal and political maneuver to block Trump from the White House

  26-04-2024 23:33 via foxbusiness.com
  
  Who is the best candidate to defend American democracy? Well, it's not Joe Biden. Biden and his lawfare allies have launched a legal campaign to tie up Donald Trump in court, actually out of court with gag orders, even putting him in the Supreme Court where his immunity plea is finally getting a fair hearing. The Alvin Bragg trial in New York is a farce. People can't even decide what the charges are, and the charges change from day to day and week to week. Nondisclosure agreements are
  
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• Tesla, Google, Oracle top week, along with Biden tax hikes and campus protests

  26-04-2024 23:01 via foxbusiness.com
  
  -Anti-Israel protests escalate across campuses nationwide; Patriots owner Robert Kraft pulls donations to one -1Q GDP hits the skids as inflation ticks higher, creating a new headache for the Fed -President Biden signals plans to raise taxes by eliminating cuts already on the books-Trump makes a pit stop at construction site heading to NYC trial -Tesla walks a tightrope in latest quarterly results -Google delivers investors a double surprise. Stock soars -Oracle's moving
  
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• FAA lawsuit claims agency discriminated against air traffic controller applicants on the basis of race

  26-04-2024 22:44 via foxbusiness.com
  
  The Federal Aviation Administration (FAA) is being sued in a class action lawsuit alleging it turned away nearly 1,000 air traffic controller applicants, solely based on their race.Former Nevada Attorney General Adam Laxalt, who now serves as co-counsel for Mountain States Legal Foundation based in Colorado, is leading efforts for a lawsuit that could set a new precedent and force companies to hire employees based on skills.Laxalt said the lawsuit represents nearly 1,000 people who went to schoo
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,554,969,025,868.11 as of 4/26/24

  26-04-2024 22:38 via foxbusiness.com
  
  The U.S. national debt is climbing at a rapid pace and has shown no signs of slowing down, despite the growing criticism of massive levels of government spending.The national debt — which measures what the U.S. owes its creditors — fell to $34,554,969,025,868.11 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $16 billion from the $34,571,627,122,114.08 figure reported the previous day.By comparison, just four decades
  
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• Google parent Alphabet delivers first-ever dividend, shares soar

  26-04-2024 22:25 via foxbusiness.com
  
  Google parent company Alphabet joined a handful of rival tech giants paying dividends, announcing its first-ever planned payout during its latest quarterly results, which were driven by momentum in search and plans to be even more dominant in AI. The $0.20 cash dividend will be paid on June 17th to shareholders of record as of June 10th for all three classes of company shares A, B and C. The search giant also authorized $70 billion in new share repurchases. The company is sitting on $108 bi
  
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• University of Florida lays out clear consequences for disruptive student, faculty protesters

  26-04-2024 21:58 via foxbusiness.com
  
  Florida's flagship university is making it clear that the disruptive anti-Israel protests occurring at colleges across the U.S. will not be tolerated on its campuses.The University of Florida released a directive Friday spelling out what is and is not acceptable behavior for those who wish to express their right to free speech at the school, along with the consequences for students or employees who cross the line.The memo obtained by FOX Business clarifies that demonstrators may engage in speech
  
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• Nearly 23% of the Canadian population reported food insecurity in 2022

  26-04-2024 21:39 via cbc.ca
  
  Canada’s poverty rate rose to 9.9 per cent in 2022, approaching pre-pandemic levels as government financial benefits introduced during the COVID-19 crisis ended, according to a Statistics Canada report released Friday.
  
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• Delta Air Lines Boeing plane loses emergency slide mid-flight, crew hears 'non-routine' vibrations

  26-04-2024 21:35 via foxbusiness.com
  
  After an emergency slide billowed off a Delta Air Line aircraft after takeoff Friday, the Los Angeles-bound Boeing plane was forced to return to New York City's John F. Kennedy International Airport.Delta Air Lines and the Federal Aviation Administration (FAA) confirmed to Fox News Digital that Flight 520 safely returned to JFK airport at around 8:35 a.m. Friday.Authorities said that the plane's crew alerted air traffic control after hearing a "non-routine" vibration from near the right wing.The
  
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• Luxury retailer Ted Baker Canada is seeking creditor protection

  26-04-2024 21:21 via cbc.ca
  
  The owners of Ted Baker's Canadian operations have filed for creditor protection in a bid to help the retailer get enough "breathing room" to decide whether to liquidate and wind down the business or pursue other unspecified alternatives.
  
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• Top Education Department official stepping down as college financial aid fiasco continues

  26-04-2024 21:09 via foxbusiness.com
  
  The official in charge of federal financial aid is leaving the Department of Education after the disastrous overhaul of the Free Application for Federal Student Aid (FAFSA) that has left students and families in limbo for months.DOE officials said Richard Cordray, the chief operating officer for Federal Student Aid, will step down at the end of June, USA Today reported Friday.A bipartisan spending bill passed in December 2020 included legislation aimed at reforming and streamlining the process f
  
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• Just one out of 10 SUVs receives 'good' crash test rating

  26-04-2024 20:59 via foxbusiness.com
  
  Only one in 10 small SUVs evaluated during an updated crash test earned a "good" rating, according to the Insurance Institute for Highway Safety (IIHS). The organization announced Thursday that it has updated its vehicle-to-vehicle front crash prevention test to address crashes that occur at higher speeds as well as crashes in which the struck vehicle is either a motorcycle or large truck. Through research and evaluation, the group works to reduce deaths, injuries and property damage i
  
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• Mortgage rates are still above 7% and home prices remain high

  26-04-2024 20:30 via foxbusiness.com
  
  Mortgage rates increased this week again, marking the second week in a row rates were above 7%. The average 30-year mortgage rate was 7.17%, up from last week when the average was 7.1%, Freddie Mac reported.Last year at this time, 30-year mortgages were slightly better off, but not by much. The average rate was 6.43%."Mortgage rates continued rising this week," Freddie Mac Chief Economist Sam Khater said in a press release."Despite rates increasing more than half a percent since the first week o
  
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• Southwest CEO says airline mulling changes to its open seating policy

  26-04-2024 19:24 via foxbusiness.com
  
  Southwest Airlines CEO Bob Jordan said Thursday that the carrier is considering changing the boarding and seating processes on its planes in order to improve its financial position."We’re looking into new initiatives, things like the way we seat and board our aircraft," Jordan said in an interview with CNBC on Thursday after the company reported a net loss in the prior quarter.Southwest became known for having a single economy class cabin with open seating assignments. Passengers will be a
  
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• Some Ring customers to receive portion of $5.6M in refunds as part of privacy settlement

  26-04-2024 18:15 via foxbusiness.com
  
  Some customers who purchased Ring security cameras will be eligible to receive refunds from the Federal Trade Commission (FTC).The FTC said this week that the refunds will collectively amount to over $5.6 million and be spread among more than 117,000 individuals. The money will be sent in the form of PayPal payments.Customers who will receive the refunds include those "who had certain types of Ring devices such as indoor cameras, during periods when the FTC alleges unauthorized users may have ha
  
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• Hertz says it lost another $195M from EV bet

  26-04-2024 18:02 via foxbusiness.com
  
  Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale.The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday.In the previous quarter, Hertz announced its biggest
  
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• NY union members say Trump support is 'through the roof' after site visit: 'He takes care of the country'

  26-04-2024 17:18 via foxbusiness.com
  
  After getting to personally meet former President Donald Trump at their construction site, two Steamfitters Local 638 members said support for the 45th president is now "through the roof.""We all love him," Gary Zuto said on "The Bottom Line" Thursday after meeting Trump that morning. "He takes care of the country, the country that we live in, and that's what we love.""I see it on the job. Everybody's got Trump stickers on their hard hats," Zuto’s colleague Ronald Dioguard added. "They jus
  
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• Google releases AI skills course in education push

  26-04-2024 17:15 via foxbusiness.com
  
  Google rolled out a new course on Friday teaching people how to use artificial intelligence tools and announced its philanthropy arm is dedicating $75 million for 1 million Americans to take it for free as part of an initiative to make AI training more accessible.The Alphabet-owned tech giant said its Google AI Essentials course, developed and taught by its own AI experts, teaches workers basic skills for using generative AI tools — such as Google's Gemini or OpenAI's ChatGPT — and i
  
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