Business news

• What's in store for Canada's housing market in 2026?

  15-01-2026 11:00 via cbc.ca
  National home sales in Canada declined by 1.9 per cent in December compared to the same period a year earlier, according to the Canadian Real Estate Association, capping a year that saw lower interest rates but heightened economic anxiety.
  
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• Saks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse

  14-01-2026 14:24 via cbc.ca
  High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday, in one of the largest retail collapses since the pandemic. It comes barely a year after a deal that brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof.
  
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• Some Canadians are ready to work in Venezuela‘s oilpatch — if they're allowed in

  14-01-2026 10:00 via cbc.ca
  In Alberta, there is excitement and hesitation from businesses and energy workers at the potential opportunity ahead in Venezuela.
  
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• McDonald's Canada to freeze price of small coffee, drop cost of value meals for one year

  13-01-2026 19:16 via cbc.ca
  McDonald's Canada will freeze the price of a small cup of coffee at $1 for at least a year and drop the price of its McValue meals to $5 for the same duration, its CEO announced on Tuesday.
  
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• Staples Canada did not fully wipe personal information from resold laptops, says privacy watchdog

  13-01-2026 18:47 via cbc.ca
  The federal privacy watchdog has found Staples Canada did not fully remove personal information from returned laptops that it later resold.
  
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• Central bank heads, including Canada's, defend U.S. Fed chair Powell

  13-01-2026 17:05 via cbc.ca
  Leaders of central banks from around the world, including Canada's Tiff Macklem, have lined up in support of U.S. Federal Reserve chair Jerome Powell, issuing an unprecedented statement of solidarity after the Trump administration threatened him with a criminal indictment.
  
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• Apple strikes major deal with Google to power Siri with Gemini AI

  13-01-2026 01:40 via foxbusiness.com
  
  Apple and Google announced Monday that the two tech giants have forged a major multi-year partnership that will power Siri with Google Gemini later this year. The deal, which will also bring Google cloud technology to iPhones, represents a major shift in Apple’s tech ecosystem, as the tech giant has never before relied on another company to power its AI tools. "Apple and Google have entered into a multi-year collaboration under which the next generation of Apple Foundation Models
  
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• Former House speaker argues Trump won’t see 'early' payoff as Republicans map midterm strategy

  13-01-2026 01:36 via foxbusiness.com
  
  Former House Speaker Kevin McCarthy explained why President Donald Trump is unlikely to be rewarded "early" for his foreign policy achievements on "Kudlow" Monday."Those things that President Trump are doing, like Venezuela, Cuba, even could get Ukraine and get Iran," McCarthy told FOX Business. "Those are historical, those are world changing, but you don't get rewarded early for it."McCarthy spoke with FOX Business’ Larry Kudlow about how Republicans should approach midterm strategy, give
  
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• LARRY KUDLOW: Don't Make a Martyr Out of Jay Powell

  12-01-2026 23:55 via foxbusiness.com
  
  Don’t martyr Jay Powell. He was a terrible Fed chairman, but he’s not a criminal. Over his tenure, he consistently missed the Fed’s inflation targets with the worst price hikes in 40 years. He was the most political Fed chairman in memory. Raising rates to stop President Trump’s tax cut boom back in the first term, lowering rates to reelect Vice President Harris and the Democrats in the last election — totally political. A whole bunch of his Fed cronies fa
  
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• Trump administration’s criminal probe of Fed Chair Powell sparks rare GOP revolt on Capitol Hill

  12-01-2026 22:02 via foxbusiness.com
  
  A simmering feud between the Trump administration and the Federal Reserve reached a boiling point this weekend as the administration opened a criminal investigation into Chair Jerome Powell.What began as a disagreement over interest rate policy has evolved into an unprecedented confrontation, posing the greatest challenge of Powell’s eight-year leadership of the Federal Reserve.The dispute has now reached Capitol Hill, where congressional Republicans — including some close allies of
  
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• Average asking rents fell to just over $2K in December — their lowest in more than 2 years

  12-01-2026 21:49 via cbc.ca
  Asking rents in Canada fell 2.3 per cent year-over-year in December to an average of $2,060, marking a full calendar year of declines as prices reached their lowest level in 30 months.
  
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• Autistic Barbie joins Mattel diversity and inclusion line

  12-01-2026 20:14 via foxbusiness.com
  
  Mattel is expanding its push for inclusion with the launch of its first autistic Barbie, developed in partnership with autism advocates to reflect how some people on the spectrum experience the world.Mattel spent more than 18 months developing the autistic Barbie in partnership with the Autistic Self Advocacy Network (ASAN), a nonprofit that works to advance the rights and media representation of autistic people. The aim, the company said, was to design a doll that reflects some of the ways auti
  
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• GOP lawmaker moves to ban members of Congress from trading individual stocks

  12-01-2026 19:52 via foxbusiness.com
  
  A Republican lawmaker on Monday unveiled legislation aimed at banning members of Congress from trading individual stocks, framing the move as a way to restore public trust and eliminate the appearance of profiting from insider information on Capitol Hill.Rep. Bryan Steil, R-Wis., said on "Mornings with Maria" that the "Stop Insider Trading Act" would ban members of Congress from buying individual stocks and require advance public notice before sales."If you want to trade stocks you should go to
  
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• Grocery chain launches massive expansion with 180 new US stores

  12-01-2026 19:24 via foxbusiness.com
  
  Budget-friendly grocery chain Aldi is expanding its footprint in the U.S.The company announced on Monday that it plans to open more than 180 stores by the end of 2026, pushing its total footprint to nearly 2,800 this year. Its goal is to operate about 3,200 stores by the end of 2028.As part of the company's growth plans over the next five years, it will enter the Colorado market for the first time while opening additional stores in the Southeast and West markets. It also has plans to open three
  
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• America's artificial intelligence advantage faces growing challenge from China's accelerated tech push

  12-01-2026 18:26 via foxbusiness.com
  
  What was once an American-led innovation race has become a high-stakes competition over economic power, national security and technological leadership.FOX Business’ Madison Alworth joined Maria Bartiromo on "Mornings with Maria" to report on how America’s lead in artificial intelligence (AI) is being tested as China accelerates its effort to become a global tech powerhouse.Artificial intelligence is no longer just powering search engines and chat tools like ChatGPT. It is reshaping h
  
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• Former Fed chairs, Treasury secretaries defend Jerome Powell amid Trump DOJ's criminal probe

  12-01-2026 17:52 via foxbusiness.com
  
  A group of former Federal Reserve chairs and Treasury secretaries released a joint statement defending Fed Chair Jerome Powell after he revealed the Trump administration's Justice Department is threatening to criminally indict him over his testimony about the Fed's renovations.The group includes former Fed Chairs Ben Bernanke, Allen Greenspan and Janet Yellen, as well as former Treasury Secretaries Timothy Geithner and Henry Paulson, plus several former chairs of the Council of Economic Adv
  
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• GOP lawmaker introduces new bill to ban stock trading in Congress

  12-01-2026 16:20 via foxbusiness.com
  
  A leading House Republican is introducing a new bill that seeks to ban stock trading by members of Congress as well as their spouses and dependent children in the latest effort to address ethics concerns with lawmakers' investment portfolios.FOX Business reviewed a draft copy of the legislation that would restrict lawmakers, their spouses and dependents from buying stocks or comparable securities during their service in Congress.The bill would also create a requirement that the sale of
  
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• Eric Adams says New York City coin will fund fight against antisemitism, ‘anti-Americanism’

  12-01-2026 16:16 via foxbusiness.com
  
  Former New York City Mayor Eric Adams warned Monday about a rise in antisemitism and "anti-Americanism" nationwide, saying a newly launched New York City digital coin could help fund education and awareness programs while also promoting the city as a cryptocurrency center."There's a wave of anti-Americanism that's sweeping not only our Ivy League college campuses, but in our inner cities," Adams said while discussing the initiative on "Mornings with Maria."Adams explained that proceeds from the
  
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• Google co-founder Sergey Brin joins California exodus: report

  12-01-2026 16:01 via foxbusiness.com
  
  Sergey Brin is cutting some business ties with California, joining Larry Page in stepping away from the state where they launched Google more than two decades ago.According to The New York Times, days before Christmas, an entity connected to Brin terminated or relocated 15 California limited liability companies (LLCs) out of the state and several were converted into Nevada entities.In December, more than 45 California LLCs associated with Page filed paperwork to move out of the state or become i
  
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• Malaysia, Indonesia become 1st countries to block Musk's Grok over sexualized AI images

  12-01-2026 15:33 via cbc.ca
  Malaysia and Indonesia have become the first countries to block Grok, the artificial intelligence chatbot developed by Elon Musk's company xAI, as concerns grew among global authorities that it was being misused to generate sexually explicit and nonconsensual images.
  
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• Trump housing plan could bring 'big win' for Americans, Pulte says

  12-01-2026 15:23 via foxbusiness.com
  
  The American people may soon be celebrating a "big win" in the U.S. housing market, according to the country's housing finance chief."All these other fake politicians, they all talk and they're no action. They've never spent a day in their private life in [the] private sector," U.S. Federal Housing Finance Agency Director and Fannie Mae Chairman William Pulte said on "Mornings with Maria" on Monday."President Trump made a bunch of money, understands real estate, understands how to get things don
  
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• Trump to bring Elon Musk in for key Iran mission

  12-01-2026 15:10 via foxbusiness.com
  
  Asked during a Sunday gaggle aboard Air Force One whether he is going to send Starlink service to Iran amid the internet blackout imposed by the Islamic regime, President Donald Trump indicated that he planned to reach out to Elon Musk."We may get the internet going if that's possible," the president said. "We may speak to Elon. Cuz as you know he's very good at that kind of thing. He's got a very good company. So we may speak to Elon Musk," the president said, adding, "I'm gonna call him as soo
  
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• Escrow payments rising nationwide with homeownership less attainable

  12-01-2026 14:30 via foxbusiness.com
  
  Rising escrow payments are eating into Americans' budgets, creating an even bigger barrier for people trying to enter the housing market this year, according to a new report.These escrow payments, the portion of a monthly mortgage that goes toward property taxes and homeowners insurance, are considered one of the biggest risks to the U.S. housing market in the new year, threatening market participation, according to the Cotality 2026 property market trends analysis. The analysis closely exa
  
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• Trump to interview BlackRock's Rick Rieder for Fed chair role

  12-01-2026 14:11 via foxbusiness.com
  
  Exclusive: President Donald Trump will interview Rick Rieder, BlackRock’s chief investment officer of global fixed income, this week to possibly be the next chairman of the Federal Reserve, administration sources told FOX Business.The sources said the interview with Rieder will take place on Thursday at the White House. It will include Trump, chief of staff Susie Wiles, Treasury Secretary Scott Bessent and deputy chief of staff Dan Scavino.This will be the fourth and last interview with a
  
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• Trump may keep ExxonMobil out of Venezuela after CEO comments: 'I didn't like their response'

  12-01-2026 14:07 via foxbusiness.com
  
  President Donald Trump signaled Sunday that ExxonMobil could be excluded from any future U.S. involvement in Venezuela’s oil sector, saying he was unhappy with the company’s response following a meeting at the White House last week.Trump told reporters aboard Air Force One that the oil giant was "playing too cute.""I didn't like Exxon's response. You know, we have so many that want it. I'd probably be inclined to keep Exxon out. I didn't like their response," he said.ExxonMobil CEO D
  
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• December inflation data will be 'extremely muddy' economists warn

  12-01-2026 13:30 via foxbusiness.com
  
  The Labor Department is set to release the December consumer price index (CPI) on Tuesday, which is expected to show inflation remaining elevated above the Federal Reserve's 2% target as data collection disruptions from the government shutdown linger.The consensus forecast compiled by FactSet estimates that headline inflation rose 0.3% on a monthly basis in December and 2.6% year-over-year, while core inflation, that excludes more volatile food and energy prices, rose 0.26% for the month an
  
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• U.S. Federal Reserve chair says justice department has threatened him with criminal indictment

  12-01-2026 04:13 via cbc.ca
  U.S. Federal Reserve chair Jerome Powell said on Sunday that the Trump administration had threatened him with a criminal indictment and served grand jury subpoenas over ​congressional testimony he gave last summer regarding a Fed building renovation project.
  
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• Former Federal Reserve leaders slam Trump administration criminal probe of Jerome Powell

  12-01-2026 04:13 via cbc.ca
  U.S. Federal Reserve chair Jerome Powell says that the Trump administration had threatened him with a criminal indictment and served grand jury subpoenas over ​congressional testimony he gave last summer regarding a Fed building renovation project.
  
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• Recall of cheese products upgraded to highest danger level over Listeria-causing bacteria: FDA

  12-01-2026 03:20 via foxbusiness.com
  
  The Food and Drug Administration announced that a recall of cheese products has been upgraded to the most serious risk category after testing positive for a potentially deadly bacteria, Listeria monocytogenes.The Ambriola Company first issued a voluntary recall in November for certain cheese products produced at the company's facility in West Caldwell, New Jersey, after routine testing confirmed the presence of Listeria monocytogenes, bacteria that can cause severe illness and even death, partic
  
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• Federal Reserve Chair Powell under criminal investigation over HQ renovation

  12-01-2026 01:45 via foxbusiness.com
  
  The U.S. attorney’s office for the District of Columbia has opened a criminal investigation into Federal Reserve Chair Jerome Powell, focusing on the renovation of the central bank’s Washington headquarters and whether he was truthful in his congressional testimony about the project.Officials told The New York Times, which was first to report the probe, that it centers on whether Powell accurately characterized the scope and cost of the renovation during congressional appearances.THE
  
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• K-Cup billionaire sells Palm Beach waterfront mansion for just over $66M after steep price cut

  11-01-2026 23:08 via foxbusiness.com
  
  K-Cup billionaire Robert Stiller sold his waterfront mansion in Palm Beach, Florida, for roughly $66.14 million, just a few years after snapping up the luxury estate.Stiller — the founder of Green Mountain Coffee Roasters, which later acquired Keurig — bought the North Lake Way property in April 2023 for $66 million. The sprawling 13,300-square-foot estate hit the market in May with a lofty $90 million asking price, according to Mansion Global. The sale was confirmed by Christia
  
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• Consumer sentiment rises above expectations in January but remains below last year's level

  11-01-2026 22:05 via foxbusiness.com
  
  Consumer sentiment ticked higher in early January despite lingering concerns about inflation and a weak labor market, according to the latest release from the University of Michigan's Surveys of Consumers.Michigan's Consumer Sentiment Index rose to 54 in January's preliminary reading from a final reading of 52.9 in December. That was a larger increase than what was expected by economists polled by LSEG, who anticipated the January figure would come in at 53.5. However, January's reading of
  
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• Trump set to interview this final candidate before naming next Fed chair

  11-01-2026 19:42 via foxbusiness.com
  
  Treasury Secretary Scott Bessent said President Donald Trump has one more interview to do before naming America's next leader at the Federal Reserve.Speaking at the Minnesota Economic Club, where he also addressed a sweeping fraud scandal that has drawn national attention, Bessent said BlackRock Global Fixed Income Chief Investment Officer Rick Rieder is expected to interview with Trump soon.POWELL DECLINES TO WEIGH IN ON POTENTIAL SUCCESSORS AS TRUMP EYES NEXT FED CHAIRThe next Fed chair would
  
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• Former Intel CEO warns US chip comeback still has long way to go

  11-01-2026 17:38 via foxbusiness.com
  
  Intel unveiled new chip manufacturing milestones this week, but former Intel CEO Pat Gelsinger said the United States still has a long way to go to reclaim chip production from Asia."The metric [is] though, how many wafers are being built in America," Gelsinger said Friday on "The Claman Countdown.""That is the only thing that matters," he added.Gelsinger’s warning comes as the Trump administration has moved to strengthen U.S. chip manufacturing, taking a stake in Intel and pushing to brin
  
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• California wealth tax proposal hemorrhages $1T as billionaires flee

  11-01-2026 17:08 via foxbusiness.com
  
  Venture capitalist Chamath Palihapitiya says California’s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state’s budget deficit.Palihapitiya, who has been tracking capital flight from the Golden State, said California has so far lost an estimated $1 trillion.MAMDANI’S RISE IN NYC MIRRORS ECONOMIC FLIGHT TO THE SOUTH, STUDY SHOWS"We had $2T of billionaire wealth just a few weeks ago. Now, 50% of that
  
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• Appetite for a bargain: Rising food costs fuel boom in discount grocery stores

  11-01-2026 10:00 via cbc.ca
  With the cost of living soaring, Ron Robinson is determined to save wherever he can — starting with his grocery bill.
  It’s why he shops at an ultra discount grocery chain in Montreal, where prices can be as much as 50 per cent less than a regular grocery store.
  
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• Someone made big money betting on Maduro. What are prediction markets, and is it time they had tighter rules?

  10-01-2026 10:00 via cbc.ca
  The huge sums of money swapped over the dramatic capture of Venezuelan President Nicolás Maduro have reignited questions about prediction markets — platforms that allow users to make yes/no wagers on nearly any kind of event, and which have shot from small startups to major companies in recent years.
  
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• Airlines don’t have to tell you how much legroom you’ll have on your flight. Here’s what you need to know

  10-01-2026 10:00 via cbc.ca
  Airlines are not required to tell passengers how much legroom they'll be getting when booking a flight, raising safety and health concerns. An aviation expert says regulations could help establish a basic level of service for economy class tickets.
  
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• Musk's xAI adds new restrictions to Grok after uproar over sexual images

  09-01-2026 19:06 via cbc.ca
  Elon Musk's startup xAI has put some restrictions on the image generation function of its Grok chatbot on social media platform X, after the tool's use of AI to create and publish sexualized images sparked a widespread backlash.
  
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• Canadian economy added 8,200 jobs in December, while unemployment rose to 6.8%

  09-01-2026 15:00 via cbc.ca
  The results come after three months of strong gains from September to November. Full-time employment rose to 50,200, while part-time ‍employment fell ⁠by 42,000.
  
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• Urgent recall: 13K chargers sold at TJ Maxx, Marshalls may explode during use

  09-01-2026 05:37 via foxbusiness.com
  
  More than 13,000 wireless chargers sold in the U.S. at T.J. Maxx and Marshalls have been recalled over fears that they could "explode while in use," according to the U.S. Consumer Product Safety Commission.The Isla Rae-branded magnetic wireless chargers were recalled on Thursday."The chargers can explode while in use, posing a fire and burn hazard," the commission said.They were sold at T.J. Maxx and Marshalls stores across the country for $15 between June 2024 and November 2025. The chargers we
  
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• Construction giant unveils AI to help prevent job site accidents: ‘It’s essentially a personal assistant’

  09-01-2026 01:13 via foxbusiness.com
  
  Construction equipment giant Caterpillar has unveiled a new artificial intelligence (AI) tool designed to improve job site safety and boost efficiency as the industry grapples with labor shortages.Speaking Wednesday on FOX Business’ "The Claman Countdown" from the Consumer Electronics Show (CES) 2026 in Las Vegas, Caterpillar CEO Joseph Creed highlighted the company's new Cat AI Assistant, which he said helps shorten training time for new operators while improving productivity and safety."
  
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• LARRY KUDLOW: What’s wrong with 5% growth?

  08-01-2026 23:34 via foxbusiness.com
  
  What’s wrong with 5% growth? Or more?Just to reprise my New Year’s message that a Trump economic boom could deliver 5%, 6%, or even 7% growth, there are numbers out today that are uniformly stronger than even I thought. Economists take note: Mr. Trump knows the economy better than you do. And what’s wrong with 5%, or better, growth?The Atlanta Fed GDPNow for Q4, which you recall was the shutdown quarter, was revised up to 5.4%. Meanwhile, the productivity of the economy, which
  
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• Trump vows to slash mortgage rates, revive 'American Dream' while blaming Biden housing failures in Truth post

  08-01-2026 23:16 via foxbusiness.com
  
  President Donald Trump said he is directing representatives to buy $200 billion in mortgage bonds to drive down rates, blaming former President Joe Biden for what he called a broken economy marked by inflation, crime and an "American Dream" he says his administration is restoring.The comments came in a social media post Thursday in which Trump leveled a broader critique of the Biden-era economy while highlighting past decisions he said strengthened key housing institutions."Biden ignored the Hou
  
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• ‘Builder-in-chief’: Fed housing director backs Trump plan to ban investors from buying homes

  08-01-2026 22:44 via foxbusiness.com
  
  "Builder-in-chief" President Donald Trump is bringing the housing market back to life, U.S. Federal Housing Finance Agency Director Bill Pulte told "Making Money" on Thursday.Trump announced Wednesday that he plans to ban institutional investors from purchasing single-family homes."I'm very confident we can resuscitate the housing market, but it's dead after what Joe Biden did," Pulte told FOX Business anchor Cheryl Casone.TRUMP ANNOUNCES PLANS TO BAN INSTITUTIONAL INVESTORS FROM BUYING SINGLE-F
  
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• Ford named No. 1 most iconic American company in nationwide survey: 'Making people's lives better'

  08-01-2026 21:56 via foxbusiness.com
  
  Ford Motor Company has been named the No. 1 most iconic company in America, according to a new ranking by Time magazine and global data platform Statista.The recognition, based on a nationwide survey of U.S. residents, places the Michigan-based automaker at the top of a list of 250 American companies that not only have achieved commercial success but also have played a "vital role in shaping culture and society," Time magazine reported."Just as my great-grandfather put the world on wheels to giv
  
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• IRS announces start date of 2026 tax filing season: what to know

  08-01-2026 21:46 via foxbusiness.com
  
  The IRS on Thursday announced the start date for the 2026 tax filing season later this month, when taxpayers will be able to start filing their returns for the past year.Taxpayers may begin filing their 2025 tax returns on Monday, Jan. 26, the IRS announced. That will give taxpayers more than two months to file their returns ahead of the Wednesday, April 15 deadline to file or request an extension until the fall.The IRS Free File program will start accepting individual tax returns on F
  
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• Hilton tears down signs to sever ties with Minneapolis hotel that allegedly refused ICE agents rooms

  08-01-2026 21:37 via foxbusiness.com
  
  Hilton Hotels is tearing down its signs in front of the Minneapolis-area Hampton Inn property that allegedly refused service to Department of Homeland Security (DHS) agents. It's the latest move by Hilton that underscores its attempt to sever its relationship with the Hampton Inn in Lakeville, a Hilton brand that's run independently by Everpeak Hospitality. Hampton by Hilton Hotels are primarily owned and operated by independent franchisees, but they are required to follow Hilton's brand st
  
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• Trump's call for $1.5 trillion defense budget would add trillions to debt: CRFB

  08-01-2026 19:40 via foxbusiness.com
  
  President Donald Trump on Wednesday called for increasing next year's defense budget to $1.5 trillion, up from his prior proposal of $1 trillion, which a budget watchdog is warning would add trillions to the national debt.Trump said in a post on his Truth Social platform that, after discussions with lawmakers and administration officials, he determined that "in these very troubled and dangerous times, our Military Budget for the year 2027 should not be $1 Trillion Dollars, but rather $1.5 T
  
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• Americans flee mortgage market despite lower rates as lenders tighten grip on credit nationwide

  08-01-2026 19:37 via foxbusiness.com
  
  Fewer Americans are applying for mortgages despite lower rates — even as lending standards tighten — signaling that high prices and financial pressures are outweighing modest rate relief.For the week ending Jan. 2, mortgage applications fell 9.7% from two weeks earlier, a steep drop marking a new low to close out 2025, according to the Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey. That’s a roughly 10% decline, meaning fewer people are tr
  
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