Business news

• Left with few options, major U.S. airlines are using Boeing's safety crisis as leverage

  14-03-2024 19:26 via cbc.ca
  
  Airline executives are frustrated with Boeing as its safety crisis has upended their business plans. But in a tight market for large aircraft supplied by two companies, they have little choice but do business with the U.S. plane maker.
  
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• Mortgage rates decline for second week, but no major drops expected soon

  14-03-2024 17:38 via foxbusiness.com
  
  Mortgage rates fell for the second week in a row, but economists are not expecting any significant declines in the near future.Freddie Mac's latest Primary Mortgage Market Survey released Thursday showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.74% this week from 6.88% last week. The average rate on a 30-year loan was 6.60% a year ago.The average rate on the 15-year fixed mortgage also fell to 6.16% after coming in last week at 6.22%. One year ago, the rate on t
  
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• Royal Caribbean cancels Labadee, Haiti port stops out of 'abundance of caution'

  14-03-2024 17:37 via foxbusiness.com
  
  Royal Caribbean cruises will no longer sail to Haiti for at least the next week, the company’s CEO says, as gang violence and political turmoil have plunged the Caribbean nation into chaos. Michael Bayley wrote in a Facebook post Thursday that "We have suspended calls into Labadee, Haiti for the next 7 days and will continue suspension on a rolling basis with 3 days advance notification to our guests sailing on itineraries impacted and changed as we monitor and evaluate the situation
  
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• Illinois mother wins $1.4 million lottery by using kids' birthdays as numbers

  14-03-2024 16:49 via foxbusiness.com
  
  An Illinois mother has won a $1.4 million lottery jackpot by using her kids’ birthdays as numbers, state lottery officials say. The Wednesday, March 6 Lucky Day Lotto winner, identified by the Illinois Lottery only as "Lucky Mom," found out she won when her baby woke up crying in the middle of the night.  "My baby woke up crying, and after tucking them back into bed, I had trouble falling back asleep. So to pass the time, I opened the lottery app on my phone, and I couldn’t
  
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• Mnuchin putting together US investor group to buy TikTok

  14-03-2024 16:32 via foxbusiness.com
  
  Former Treasury Secretary Steven Mnuchin is putting together a group of U.S. investors to buy TikTok after the House of Representatives passed legislation that would force its China-based parent company, ByteDance, to sell it to American interests due to national security concerns."It's a great business and I'm going to put together a group to buy TikTok… because they should be owned by U.S. businesses," Mnuchin told CNBC's "Squawkbox" on Thursday.HOUSE PASSES BILL THAT COULD SEE TIKTOK B
  
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• Tax refunds are nearly 29% lower so far this year, IRS data shows

  14-03-2024 16:30 via foxbusiness.com
  
  Early tax filers are seeing smaller tax refunds this year. The average refund for the first few weeks of the tax filing season is $1,395, IRS data showed.Last year, the average refund was $1,963 within the first few weeks of filing opening. Refunds have declined by 28.9%, but the tax season is just getting started. This lower refund average is likely due to fewer people filing. By February 2023, nearly 19 million taxpayers had filed, while only about 15 million have filed so far this year.The fa
  
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• United Airlines Boeing plane that turned around midflight suffered hydraulic leak

  14-03-2024 16:29 via foxbusiness.com
  
  The United Airlines Boeing plane that turned around midflight after departing Sydney, Australia earlier this week suffered a hydraulic leak, the airline says.United Airlines Flight 830, which was bound for San Francisco on Monday, returned to Sydney Kingsford Smith Airport "due to a maintenance issue," the airline told FOX Business in a statement, adding Thursday that the issue was a hydraulic fluid leak.A video captured by an aviation enthusiast appeared to show fluid leaking from the wheel are
  
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• Precious US stamp from 1868 expected to sell for eye-popping sum: 'Rarest of the rare'

  14-03-2024 16:28 via foxbusiness.com
  
  An ultra-rare U.S. postage stamp is going under the hammer this summer — and it may fetch as much as $5 million.Robert A. Siegel Auction Galleries in New York recently announced that it will be auctioning off a Benjamin Franklin Z Grill during a large stamp auction on June 14. Issued by the U.S. Postal Service in 1868, the stamp depicts Benjamin Franklin's profile and was indented by a "Z-grill" pattern.The Benjamin Franklin Z-grill is one of the rarest and most sought-after stamps in Amer
  
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• SpaceX launches massive Super Heavy-Starship rocket into space in most successful test yet

  14-03-2024 16:27 via foxbusiness.com
  
  SpaceX successfully launched its Super Heavy-Starship rocket on Thursday morning from Texas, in what was its third and most successful test yet.The spaceflight company's live stream had more than 1.5 million people "feeling the rumble" following liftoff at 8:25 a.m. CT, as the broadcast host announced. "The third flight test aims to build on what we've learned from previous flights while attempting a number of ambitious objectives, including the successful ascent burn of both stages, openin
  
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• Oakland businesses threaten to stop paying taxes after slew of robberies until crime stops: 'Enough is enough'

  14-03-2024 16:18 via foxbusiness.com
  
  A growing group of business owners in the Bay Area are declaring that they no longer want to pay taxes after a slew of robberies and thefts made them feel like the city wasn't doing enough to protect them. Businesses in Oakland, California, have faced thefts and attacks in recent months. "We're scared for our lives," Cybelle's Pizza manager Nestor Sanchez said, according to a KTVU report. "Now, Dimond District is not the same as the years I had been working." OAKLAND TACO BELLS SH
  
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• Federal government reveals it ordered national security review of TikTok

  14-03-2024 15:50 via cbc.ca
  
  The federal government says it began a national security review of TikTok in September of last year, but won't comment on the "ongoing case."
  
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• Dollar Tree is closing nearly 1,000 U.S. stores a decade after 'botched' acquisition

  14-03-2024 15:45 via cbc.ca
  
  Dollar Tree swung to a surprise fourth-quarter loss and will close nearly 1,000 stores after the discount retailer slashed the value of a rival chain it acquired almost a decade ago.
  
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• Wholesale inflation unexpectedly accelerates to highest level since September

  14-03-2024 14:43 via foxbusiness.com
  
  Inflation at the wholesale level rose much more than expected in February, the latest sign that price pressures within the economy remain elevated and difficult to tame.The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, surged 0.6% in February from the previous month. On an annual basis, prices remain up 1.6% — the highest level since September 2023.Those figures are both higher than the 0.3% monthl
  
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• Today's mortgage rates hold steady for 30-year terms | March 14, 2024

  14-03-2024 14:41 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 7.000% as of March 14, 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 March 14, 2024. Rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal
  
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• Retail sales rebounded in February, but consumers may be growing more cautious

  14-03-2024 14:41 via foxbusiness.com
  
  Spending at U.S. retailers rebounded in February, but consumers may be growing more cautious as they continue to face high interest rates and steeper prices for everyday goods.Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, climbed 0.6% in February, the Commerce Department said Thursday. That is lower than both the 0.8% increase projected by LSEG economists and the revised 1.1% decline recorded in January.Excluding the more vo
  
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• US Treasury Secretary Janet Yellen walks back transitory inflation claims: 'I regret saying it'

  14-03-2024 14:32 via foxbusiness.com
  
  As Americans have continued to sound off over sticker shock on retail and grocery shelves, the U.S. Treasury secretary admitted Wednesday that her public predictions were wrong."I regret saying it was transitory [inflation]. It has come down, but I think transitory means a few weeks or months to most people. And it's lasted longer than that," Janet Yellen told FOX Business’ Edward Lawrence in an exclusive interview.In early June 2021, Yellen had tamped down inflationary concerns, claiming
  
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• California braces for new electric plan: Make more, pay more

  14-03-2024 14:30 via foxbusiness.com
  
  LOS ANGELES – How to go green without going broke? That's the latest challenge in the alternative energy capital of California, where Democrats propose taxing the rich to make energy more equitable and affordable. To do so, lawmakers mandated utilities statewide begin billing ratepayers based not on how much electricity they use, but on how much money they make."This would be the first state to charge people based on their income rather than what they actually just use," said Shon Hiatt, d
  
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• Florida man wearing Amazon vest seen swapping package with empty box

  14-03-2024 13:33 via foxbusiness.com
  
  A Florida homeowner shared surveillance video of a man in an Amazon vest replacing a package with an empty box, prompting a criminal investigation.It happened just before 1 p.m. on March 5 in DeLand, Anthony Grant told with FOX 35 Orlando. Grant was awaiting delivery of his new iPhone when the switch happened."It was a little bit disenfranchising," he told the Florida news station. Grant's Ring doorbell camera captured a FedEx driver delivering the iPhone from AT&T, and the driver even
  
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• Automakers tracking drivers, sharing data with car insurance companies

  14-03-2024 13:31 via foxbusiness.com
  
  Automakers are collecting driving data from customers and quietly providing it to insurance companies, and the practice has resulted in some unassuming drivers seeing their coverage increased or even terminated due to the practice, a new report reveals.The New York Times reported this week that car manufacturers like General Motors and Ford are tracking drivers' behavior through internet-connected vehicles, and sharing it with data brokers such as LexisNexis and Verisk, which create "consumer di
  
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• Florida CFO says businesses should ditch the Big Apple for the Sunshine State

  14-03-2024 13:00 via foxbusiness.com
  
  Florida Chief Financial Officer Jimmy Patronis is touting Florida's economic climate as a compelling alternative for companies in states like New York that face heavier tax and regulatory burdens.  Patronis, who has served as Florida's CFO since June 2017 under Governors Rick Scott and Ron DeSantis, told FOX Business in an interview that New York's high taxes, restrictive regulations and even the recent fraud ruling against former President Donald Trump has made the Empire State unfrie
  
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• Maine voters split over inflation ahead of 2024 presidential election

  14-03-2024 12:47 via foxbusiness.com
  
  President Biden and former president Donald Trump are officially facing off again in the 2024 presidential election. Focusing on the economy, Biden released his $7.3 trillion budget proposal for 2025 earlier this week.The economy is a big concern for many voters this election year, and it's a key topic in Maine, which is one of two states that splits its electoral votes. The Pine Tree State had its first split vote in 2016 when Trump won its rural second congressional district and then again in
  
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• Bernie Sanders moves to reduce work hours for millions of Americans

  14-03-2024 12:31 via foxbusiness.com
  
  Vermont Senator Bernie Sanders has unveiled a plan that would create a 32-hour workweek with no loss of pay.The independent lawmaker, chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP) and a self-described democratic socialist, said his bill to establish a four-day workweek is not radical and would lead to a better quality of life for millions of Americans."Moving to a 32-hour workweek with no loss of pay is not a radical idea," Sanders said in a press release. "To
  
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• Apple Vision Pro headset becomes tool in operating room

  14-03-2024 12:00 via foxbusiness.com
  
  The Apple Vision Pro made a splash this week after a surgical team put it to work in a U.K. operating room.The augmented reality headset served as a "surgical logistics and organization tool" using eXeX software during a pair of microsurgical spine procedures performed at Cromwell Hospital, the software’s developer eXeX announced Tuesday. "The Vision Pro was used in conjunction with eXeX – a dedicated AI backed software that focuses on streamlining the surgical episode, inventor
  
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• 401(k) 'hardship' withdrawals surge to another record as high inflation stings

  14-03-2024 12:00 via foxbusiness.com
  
  A record-breaking number of Americans are making emergency withdrawals from their 401(k) retirement plans in order to cover a financial hardship amid the ongoing inflation crisis, according to new data from Vanguard Group.Nearly 3.6% of workers participating in employer-sponsored 401(k) plans made a so-called "hardship" withdrawal in 2023, according to Vanguard, which tracks about 5 million accounts. That marks a major increase from the 2.8% rate recorded in 2022 and the pre-pandemic average of
  
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• Boeing plane forced to make emergency landing at LAX after possible mechanical issue

  14-03-2024 11:43 via foxbusiness.com
  
  An American Airlines flight was forced to make an emergency landing in California Wednesday evening after its pilot reported a possible mechanical issue, the airline said.Flight 345, which took off from Dallas-Fort Worth, Texas, reported the issue with the Boeing 777 plane and ultimately landed at the Los Angeles International Airport at approximately 8:45 p.m. on Wednesday without any incident, American Airlines said in a statement on Thursday."The aircraft taxied to the gate under its own powe
  
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• California businessmen hope to break world record for 'most hair donated in 24 hours'

  14-03-2024 10:00 via foxbusiness.com
  
  Whoever said one world record was enough?For the team at Longhairs, a California-based men's grooming brand, bigger is better. Or — in their company's case — longer is better.After setting a Guinness World Record five years ago for the "most hair donated to charity in a 24-hour period" during "The Great Cut of 2019," Chris Healy, co-founder of the Longhairs, and Sean Horton, the company's creative director, are ready to surpass that record.COFFEE IN A NEW LIGHT: CHICAGO BUSINESS REVE
  
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• Kirsten Dunst's New York penthouse hits the market for $6.9 million

  14-03-2024 09:30 via foxbusiness.com
  
  Kirsten Dunst is ready to let go of her New York City home.The penthouse apartment, with views of the west, north and south sides of the city, is on sale for $6.9 million, and is listed with Laura Weinkam of The Corcoran Group. Located in Hudson Square, the apartment's newly installed oversized arched windows allow for picturesque sunset views of the Hudson River.Many of the home's other amenities were upgraded as well, in addition to the newly renovated windows. The home also features custom ha
  
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• Shoppers Drug Mart says it doesn't have medication review targets, but records show it does

  14-03-2024 09:00 via cbc.ca
  
  More than a dozen current and former Shoppers Drug Mart associate owners and pharmacists tell CBC News the chain set targets for medication reviews, and corporate management pressures owners to meet them. This despite president Jeff Leger's denial last month that the chain has such targets.
  
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• Reddit has solid start on 1st day as publicly traded company. Here's what to know

  14-03-2024 09:00 via cbc.ca
  
  Reddit became a publicly traded company on Thursday, making it the first major U.S. tech firm to do so in years.
  
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• Reddit, birthplace of the meme stock, is going public on Thursday. Here's what to expect

  14-03-2024 09:00 via cbc.ca
  
  When Reddit goes public later on Thursday, it will be the first major social media platform to do so in years.
  
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• Reddit, birthplace of the meme stock, is going public. Here's what to expect

  14-03-2024 09:00 via cbc.ca
  
  When Reddit goes public later this month, it will be the first major social media platform to do so in years. The company is aiming for a target valuation of up to $6.4 billion US when it launches its IPO (initial public offering) on the New York Stock Exchange, giving the public an opportunity to invest in the company's stock for the first time.
  
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• Reddit, birthplace of the meme stock, has gone public. Here's what to know

  14-03-2024 09:00 via cbc.ca
  
  Reddit became a publicly traded company on Thursday, making it the first major U.S. tech firm to do so in years.
  
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• Auto insurance rates continue to skyrocket with no immediate signs of relief

  14-03-2024 04:14 via foxbusiness.com
  
  Car insurance prices are skyrocketing without any immediate signs of relief — and customers are not happy about it.Nevada had the second-most expensive car insurance last year, with an average annual cost of nearly $3,000, according to the insurance comparison site Insurify.Unfortunately, for many in Nevada, auto insurance prices are about to get even higher this year. Hundreds of thousands of drivers are slated to see an almost 20% increase in their rates.CAR INSU
  
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