Business news

• LARRY KUDLOW: The New York Times doesn't understand this

  27-02-2024 23:39 via foxbusiness.com
  
  The New York Times writes a piece called "Trump and Inflation" – and, of course, the gist of it is that Trump policies are going to push prices higher. Trouble is, there were no inflation numbers in the entire piece. Nothing. No numbers. So, let me help them. Over the four years of President Trump's first term, the consumer price index averaged 1.9% at an annual rate. That's for the whole term, less than the Fed's target of 2%. Oh, wait a minute! Wait, wait. The Fed likes to targ
  
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• US national debt tracker for Feb. 27, 2024: See what American taxpayers (you) owe in real time

  27-02-2024 23:29 via foxbusiness.com
  
  The U.S. national debt is climbing at an astronomical pace and has shown no signs of slowing down despite the heightened scrutiny on government spending.The national debt — which measures what the U.S. owes its creditors — increased to $34,376,317,052,037.23 as of Monday afternoon, according to the latest numbers published by the Treasury Department. That is up about $8.1 billion from the $34,368,198,372,899.16 figure reported the previous day.$34,376,317,052,037.23By comparison, jus
  
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• Apple scrapping electric car project

  27-02-2024 22:25 via foxbusiness.com
  
  Apple is reportedly abandoning efforts to build an electric car after spending nearly a decade and billions of dollars on the project.Citing people familiar, Bloomberg reported that Apple announced internally Tuesday that it was canceling its EV endeavor, dubbed Project Titan, surprising the nearly 2,000 employees that have been working on it.The outlet said some of the workers would be redirected to focus on Apple's generative artificial intelligence division, while others will be laid off.GOOG
  
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• Toyota recalling 381K Tacoma pickups over axle issue raising crash risk

  27-02-2024 22:09 via foxbusiness.com
  
  Toyota on Tuesday announced that it will recall about 381,000 Toyota Tacoma pickup trucks to address an issue with parts falling off the rear axle that can impact the vehicle's performance and raise the risk of a crash.The auto recall applies to certain model year 2022 and 20233 Toyota Tacoma trucks sold in the U.S. and the company has indicated that customers will be notified about the recall through the mail by late April 2024."Welding debris left on the ends of the rear axle assembly during m
  
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• A fluctuating Frosty? Wendy's will test surge pricing at some U.S. locations in 2025

  27-02-2024 21:58 via cbc.ca
  
  Craving a Frosty? Better get it on a slow day if you're going to a Wendy's that'll be testing surge pricing in the U.S. The company recently announced the move for some locations as part of its new digital menus to be launched next year.
  
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• A fluctuating Frosty? Wendy's will test dynamic pricing at some U.S. locations in 2025

  27-02-2024 21:58 via cbc.ca
  
  Craving a Frosty? Better get it on a slow day if you're going to a Wendy's that'll be testing dynamic pricing in the U.S. The company recently announced the move for some locations as part of its new digital menus to be launched next year.
  
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• 46% of retirees have no plan if retirement savings run out, nearly quarter of Gen Z doesn’t expect to retire

  27-02-2024 21:40 via foxbusiness.com
  
  Many retirees are struggling to make ends meet during retirement. About 66% of current retirees say the U.S. is facing a retirement crisis, a Clever study reported.This crisis is largely due to a lack of funds for retirement. Nearly 40% of respondents to Clever’s survey are seriously concerned they’ll outlive their retirement savings. Many retirees have already outlived their savings.Certain retirees face a lack of savings more than others. Retired women are 33% more likely than men
  
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• Norfolk Southern CEO received major pay boost despite East Palestine derailment

  27-02-2024 21:20 via foxbusiness.com
  
  Norfolk Southern is facing criticism after reporting CEO Alan Shaw received a significant pay boost last year, despite the railroad company's disastrous derailment in East Palestine, Ohio, and calls for Shaw to be fired over his handling of the incident.Norfolk Southern's latest proxy statement shows Shaw's total target pay was $13.4 million in 2023, a 37% increase from the $9.7 million he received in 2022. The CEO's base salary went from $900,000 to $1.1 million, while his stock awards and opti
  
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• Kellogg CEO faces criticism for suggesting consumers eat cereal for dinner

  27-02-2024 20:23 via foxbusiness.com
  
  WK Kellogg CEO Gary Pilnick is suggesting that consumers dealing with the high cost of food eat cereal for dinner. His message is landing him in hot water. "We gotta reach the consumer where they are, so we're advertising about cereal for dinner," Pilnick said last week during an interview with CNBC. He said the message is "landing really well" with consumers, who are spending more of their income on food than they have in the last three decades. In 2022, 11.3% of disposable incom
  
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• Disney hit with lawsuit after doctor has fatal allergic reaction

  27-02-2024 19:56 via foxbusiness.com
  
  Disney and the company doing business as the Disney Springs restaurant Raglan Road have been hit with a lawsuit following the death of a New York doctor due to an allergic reaction.The complaint, submitted to a Florida court on Thursday, is being brought by Jeffrey Piccolo, the husband of Dr. Kanokporn Tangsuan, who the filing said died in early October from an allergic reaction after eating at the Irish restaurant on Disney World’s property. It claimed negligence by Disney and the restaur
  
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• Stuart Varney: We’ve reached a ‘turning point’ on sanctuary cities

  27-02-2024 19:06 via foxbusiness.com
  
  During his "My Take," Tuesday, "Varney & Co." host Stuart Varney discussed the murder of 22-year-old Laken Riley who was allegedly killed by Venezuelan migrant Jose Ibarra, arguing the Athens, Georgia nursing student would likely be alive today if there were no such things as an open border or sanctuary cities.STUART VARNEY: A wave of criminality, allegedly by migrants. The massive numbers involved, over 7 million since Biden took office. LIBERAL CITY MAYORS FEEL THE HEAT AS SANCTU
  
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• Beatle George Harrison, Eric Clapton's love triangle letters with Pattie Boyd to be auctioned

  27-02-2024 19:00 via foxbusiness.com
  
  Pattie Boyd is ready to sell heartbreaking letters from her love triangle with Eric Clapton and the Beatles' George Harrison."I’ve had them all for so many years – far too long," Boyd told The Telegraph. "I thought, why don’t I just sell everything and let everybody else enjoy it?""They're too painful in their beauty."BEATLES' GEORGE HARRISON, ERIC CLAPTON LOVE TRIANGLE ‘WAS LIKE AN ARRANGED MARRIAGE’: BOOKOne of the letters is a note sent to the former model from C
  
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• NYC taxpayers fleeced for millions on rushed, overpriced no-bid contracts for migrant services, audit finds

  27-02-2024 18:55 via foxbusiness.com
  
  New York City taxpayers have been fleeced for millions of dollars with emergency no-bid contracts awarded by Mayor Eric Adams' administration to buy services for illegal immigrants, an audit finds.A report released Tuesday by NYC Comptroller Brad Lander analyzed four emergency asylum-seeker-related contracts held by different city agencies and found that prices paid "varied wildly" for similar services across the four contracts. The Adams administration also paid "significantly higher" rates to
  
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• Comer uncovers pattern in Biden family business probe: 'Very concerning'

  27-02-2024 18:30 via foxbusiness.com
  
  The investigation into the Bidens’ businesses is heating up in the House as Republicans continue to dig into the family’s "very concerning" patterns.Rep. James Comer, R-Ky., chairman of the House Oversight Committee that’s spearheading the investigation into the first family, revealed the findings that are surfacing in the probe, during his appearance on "Mornings with Maria" Tuesday. "I think we’ve established a pattern, a pattern that Joe Biden did communicate with
  
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• Google Gemini pushes restrictions on political, ‘election-related queries’ out of ‘an abundance of caution’

  27-02-2024 18:01 via foxbusiness.com
  
  Google has rolled out restrictions on "election-related queries" amid backlash to its artificial intelligence (AI) chatbot Gemini."As we shared last December, in preparation for the many elections happening around the world in 2024 and out of an abundance of caution, we're restricting the types of election-related queries for which Gemini will return responses," a Google spokesperson told Fox News Digital.Google announced on December 19 that it would limit the types of queries related to electio
  
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• Cineplex has made nearly $40M from online ticket fees at heart of drip-pricing lawsuit

  27-02-2024 17:57 via cbc.ca
  
  Cineplex Inc. has made almost $40 million from online booking fees, which are central to a competition bureau lawsuit against the Canadian cinema chain.
  
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• Some student loan forgiveness programs are set to end this year – here’s what to do if this affects you

  27-02-2024 17:49 via foxbusiness.com
  
  The Biden Administration has implemented a variety of student loan programs to help borrowers deal with high debts. Many of these programs are coming to an end by the end of the year.The "on-ramp" transitionary period that began last fall is set to end in September. During this period, missed student loan payments won’t result in default or credit score hits. When the program began last October, it was intended to last 12 months to give students some breathing room once student loan paymen
  
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• FCC commissioner makes admission over political bias, ideology that 'permeates Silicon Valley'

  27-02-2024 16:45 via foxbusiness.com
  
  How problematic is Google Gemini’s alleged racial and historical bias? According to senior Republican and Federal Communications Commission (FCC) Commissioner Brendan Carr, it’s "deeply concerning.""What this is doing is laying bare for the American people to see that the political ideology that permeates Silicon Valley is finding its way into algorithms," Carr said on "The Bottom Line" Monday."And for years we were told there is no conservative bias, there is no political ideol
  
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• Eye products sold at Walmart, CVS could pose infection risk

  27-02-2024 16:28 via foxbusiness.com
  
  Eye ointment products sold at CVS and Walmart stores nationwide are being recalled due to a potential risk of infection, federal health officials said. Brassica Pharma Pvt. Ltd. issued the recall after the Food and Drug Administration (FDA) discovered a "lack of sterility assurance" at the manufacturing facility, according to a notice posted on the agency's website. The four impacted products, which are intended to be sterile, are sold under the brand names Equate, CVS Health and
  
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• Bitcoin hits $57K, highest since 2021

  27-02-2024 16:24 via foxbusiness.com
  
  Bitcoin, like U.S. stocks, is on a roll in the new year, hitting a two-year high as seasoned investors pile back in along with a new crowd. The largest cryptocurrency by market value, crossed $57,000, the highest price since 2021 before settling back, as tracked by Coindesk. For the year, it's up nearly 30% but remains below its all-time high of $67,352.59 reached on Nov. 9, 2021. By comparison, the S&P 500 is up 6% over the same period.Sentiment for the cryptocurrency reignited after t
  
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• Home prices hit a new all-time high in December

  27-02-2024 15:52 via foxbusiness.com
  
  Home prices rose for the 11th consecutive month in December, as housing inventory remained painfully low.Prices increased 5.5% nationally in December when compared with the previous year, the S&P CoreLogic Case-Shiller index showed on Tuesday. That is up from the 5% annual increase recorded the prior month. On a monthly basis, prices fell 0.4%, according to the index.The 10-city composite, which encompassed Los Angeles, Miami and New York, rose 7% annually, compared with an increase of 6.3%
  
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• Today's mortgage rates hold steady for 30-year terms | February 27, 2024

  27-02-2024 15:20 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 6.625% as of February 27, which is unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to ensure you get the best deal. Rates last updated on February 27, 2024. Rates are based on the assumptions shown here. Actual rates may vary. Credible, a pe
  
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• McDonald's evolution from drive-in to global fast-food icon

  27-02-2024 15:12 via foxbusiness.com
  
  McDonald's Corporation stands as a global leader in the fast-food industry.Renowned for its diverse menu, the chain offers hamburgers, cheeseburgers, chicken, french fries, soft drinks, milkshakes, a variety of desserts, a vegan menu and more. In the world of fast-food, few names resonate as loudly as McDonald's. Let's explore the captivating narrative of how two brothers transformed a humble drive-in into an international icon.WHAT YOU SHOULD ORDER AT MCDONALD'S, ACCORDING TO NUTRITIO
  
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• Subway overcharged a customer more than $1K, took 7 weeks to refund it

  27-02-2024 15:00 via foxbusiness.com
  
  A woman in Columbus, Ohio, said it took about seven weeks to get a refund for the more than $1,000 she was erroneously charged for a three-sandwich Subway meal.Letitia Bishop told FOX Business on Monday she incurred the $1,000 charge on her debit card back in early January while getting Subway sandwiches from a now-closed restaurant located within a Thorntons gas station. ABC 6 first reported on her experience.A source at Subway told FOX Business that Bishop’s refund occurred Saturday morn
  
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• French government says vegetarian companies cannot use 'steak' and other names of meat on product labels

  27-02-2024 14:41 via foxbusiness.com
  
  Companies in France that sell vegetarian, meat-alternative products will now have to remove the name of meat from their labels to avoid confusion, according to a new government order.The French government issued a decree on Tuesday that bans meat-free products from using meat terms such as "steak," "ham," "filet," "prime rib," among others, as the government said the terms were reserved for meat products, AFP reported.The decision comes amid a feud between the meat and vegetarian industries, who
  
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• Warren Buffett blasts government regulations in annual letter

  27-02-2024 14:00 via foxbusiness.com
  
  Berkshire Hathaway founder and CEO Warren Buffett lamented the impact of federal regulations on a pair of his company's ventures that had disappointing earnings results last year in his annual letter to shareholders.Buffett, a longtime supporter of the Democratic Party, noted that federal laws allowing the president to intervene in rail negotiations between labor unions and railroads had the effect of raising wage expenses at BNSF – a Berkshire company that is one of the nation's six large
  
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• Alberta gives cold shoulder to wind and solar industry, as the rest of the world is clamouring for more

  27-02-2024 14:00 via cbc.ca
  
  The Alberta government’s seven-month ban on new large-scale wind and solar power projects will come to an end this week, but the province is unlikely to return to its previous status as a hotbed of investment.
  
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• Macy's to close 150 stores by 2026, open new Bloomingdale's, Bluemercury locations

  27-02-2024 13:54 via foxbusiness.com
  
  Macy's plans to close roughly 150 of its locations over the next three years in a strategy shift that leans more heavily on its luxury Bloomingdale's and Bluemercury chains.The company announced the shift publicly Tuesday morning, saying it was entering a "bold new chapter" with a new CEO, Tony Spring. Macy's will be down to 350 stores once all of the planned closures occur. In turn, the company will add roughly 45 Bloomingdale's and Bluemercury locations. "A Bold New Chapter serves as a st
  
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• Vending machines had eyes all over this Ontario campus — until the students wised up

  27-02-2024 10:00 via cbc.ca
  
  An Ontario university is pulling dozens of vending machines that were tracking the age and gender of customers in the latest example of pushback against technology that tests the boundaries of privacy rules.
  
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• Consumers will ultimately pay the price for Quebec's new language rules, experts say

  27-02-2024 10:00 via cbc.ca
  
  Quebec consumers will have fewer choices and be paying more for everything from coffee makers to washing machines if the government follows through with its revisions to the province’s French language charter, legal and industry experts say.
  
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• Canada's top pensions have trillions in assets. Should they do more to fuel the energy transition?

  27-02-2024 10:00 via cbc.ca
  
  Canada's largest pension funds, which hold trillions of dollars in assets combined, are trailing behind many of their international counterparts when it comes to shifting away from investments in fossil fuels, a new report has found.
  
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