Business news

• Chrysler recalls 286,000 vehicles over airbag concerns

  22-03-2024 23:27 via foxbusiness.com
  
  Chrysler is recalling around 286,000 vehicles over concerns that the side airbag inflators in the cars may rupture, which could hurt or even kill people.According to separate notices posted by the National Highway Traffic Safety Administration (NHTSA), the recalls involve certain Dodge Charger and Chrysler 300 vehicles from model years 2018-2021, and replacement parts for airbags in roughly 1,000 vehicles.The notices state that the side curtain airbag inflators may rupture, which "may result in
  
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• US national debt tracker for March 22, 2024: See what American taxpayers (you) owe in real time

  22-03-2024 23:23 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 $34,578,032,221,509.83 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is up about $16.8 billion from the $34,561,173,662,194.19 figure reported the previous day.By comparison, just four decades ago,
  
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• Princess Kate Middleton's cancer announcement: Full Statement

  22-03-2024 21:10 via foxbusiness.com
  
  Princess Kate Middleton, 42, has been undergoing preventative chemotherapy treatment after a planned abdominal surgery showed "cancer had been present." Kate did not elaborate on the form or extent of the cancer in her video announcement released on Friday. The Princess of Wales' update on her health comes after undergoing major surgery earlier this year and pulling back from her royal duties during her recovery period. *A TRANSCRIPT OF A VIDEO MESSAGE FROM CATHERINE, THE PRINCESS OF W
  
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• Hyundai, Kia recall over 147K vehicles due to damaged charging unit

  22-03-2024 20:45 via foxbusiness.com
  
  Hyundai and Kia are recalling more than 147,000 U.S. electric vehicles due to damaged charging units, federal safety regulators said. Kia America is recalling 48,232 vehicles, and Hyundai Motor America is recalling 98,878 vehicles, according to separate notices posted on the National Highway Traffic Safety Administration (NHTSA) website.According to the notices, "the Integrated Charging Control Unit (ICCU) may become damaged and stop charging the 12-Volt battery, which can result in a loss
  
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• Use these 5 expert strategies to build your emergency savings fund

  22-03-2024 19:55 via foxbusiness.com
  
  An emergency fund should be a priority for Americans to be prepared for unforeseen and urgent expenses. Experts recommend you should have several months of living expenses saved that can be used for emergency situations."We recommend having three to six months’ worth of expenses saved in an emergency savings fund but even as little as a few hundred dollars has been found to significantly increase financial stability," Meagan Dow, senior strategist at Edward Jones, told FOX Business. "
  
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• Gas prices rise as spring season approaches: AAA

  22-03-2024 19:41 via foxbusiness.com
  
  Spring is finally here, and that means a rise in gas prices. Gas prices rose by 11 cents on average this week, according to AAA’s weekly report. The average gas price now sits at $3.52 per gallon."Gas prices are a lot like seasonal temperatures," AAA spokesperson Andrew Gross said. "They start to rise with the arrival of spring."Rising oil prices are to blame for the higher costs at the pump. Midwestern states are the only ones likely to see a slight decrease in prices now that the BP Whit
  
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• Dodge-parent Stellantis laying off hundreds of US workers

  22-03-2024 19:26 via foxbusiness.com
  
  Stellantis, the parent company of several auto brands, including Dodge, Jeep and Chrysler, confirmed on Friday that it will be laying off hundreds more U.S. workers as it continues to trim its workforce amid its transition to electric vehicle production.The Wall Street Journal reported that the automaker had instructed several white collar employees working in software, engineering and technology to work from home on Friday morning, and then held meetings where the workers were informed that the
  
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• Stellantis recalls 10,000 vehicles in Canada for airbag defects

  22-03-2024 18:55 via cbc.ca
  
  Stellantis has recalled more than 10,000 Dodge and Chrysler sedans in Canada due to defective airbags.
  
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• Biden 'doesn't have a plan' on Social Security solvency, Treasury secretary says

  22-03-2024 18:54 via foxbusiness.com
  
  Treasury Secretary Janet Yellen has admitted that President Biden "doesn’t have a plan" — only "principles" — when it comes to preventing Social Security from going insolvent around a decade from now. Yellen made the remark on Thursday during a Senate Finance Committee hearing in Washington, D.C., on Biden’s fiscal year 2025 budget. Government projections last year estimated that the Social Security retirement fund could run out of money as soon as 2033, and Biden ha
  
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• Kevin O'Leary warns NY Trump fraud case is 'concerning financial markets' around the world

  22-03-2024 18:29 via foxbusiness.com
  
  "Shark Tank" star Kevin O’Leary is blaming New York for "tainting the American brand" as former President Trump is at risk of losing properties following the ruling in his civil fraud case."What's going on in New York, it has nothing to do with Trump. That case is over. What's going on now is concerning financial markets all around the world," O’Leary told Fox News host Jesse Watters Thursday.Trump has until Monday to secure the $464 million bond required by the court, or else face t
  
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• United Airlines lets passengers pool frequent flyer miles

  22-03-2024 18:18 via foxbusiness.com
  
  United Airlines is letting its most loyal passengers combine their airline miles with friends and family members.Groups of up to five MileagePlus members can now share and redeem miles into one linked account, according to United. JetBlue, Frontier and Spirit already have pooling programs available to customers.United cited data from the Family Travel Association indicating that a majority of parents are concerned about travel affordability, given the current economy. UNITED AIRLINES O
  
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• FBI tells passengers on Alaska Airlines flight they may be 'victim of a crime'

  22-03-2024 17:14 via foxbusiness.com
  
  The Federal Bureau of Investigation (FBI) sent passengers who had been on an Alaska Airlines flight that had a door plug blow out mid-flight a letter saying they may be a "possible victim of a crime.""As a Victim Specialist with the Seattle Division, I'm contacting you because we have identified you as a possible victim of a crime," the FBI office in Seattle said in a letter to passengers on Alaska Flight 1282. Attorney Mark Lindquist, who represents passengers on the flight, sent a copy of the
  
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• New FTX CEO says Sam Bankman-Fried 'living life of delusion' ahead of sentencing

  22-03-2024 17:04 via foxbusiness.com
  
  FTX co-founder and former chief executive Sam Bankman-Fried is not living in reality with his claims that the bankruptcy of his cryptocurrency exchange was not necessary and that he did not steal from customers, new CEO John Ray said Wednesday."Mr. Bankman-Fried continues to live a life of delusion," Ray wrote in a Manhattan federal court filing ahead of the former billionaire's sentencing set for next week. "There should be no delusion that because assets have increased in value or that the pro
  
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• Al Gore's son carrying on father's climate change legacy as new face of EV policy

  22-03-2024 16:43 via foxbusiness.com
  
  If you thought you saw a familiar face during the Environmental Protection Agency’s electric vehicle (EV) announcement on Wednesday, you’re not wrong.Taking center stage to voice support for the Biden administration’s most aggressive emissions standards yet was Al Gore III, taking a page from his father’s playbook, according to one energy expert."The apple doesn't fall far from the tree, whether it is the former vice president or his son who is maybe a little more tempere
  
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• State Farm cuts 72,000 California home insurance policies: 'Decision was not made lightly'

  22-03-2024 16:41 via foxbusiness.com
  
  State Farm, California's largest home insurance company, announced it would be discontinuing coverage for 72,000 homes and apartment policies in the state starting this summer.The insurer blamed inflation, regulatory costs, and the increasing risks from catastrophes for its decision to scale back in the blue state."This decision was not made lightly and only after careful analysis of State Farm General’s financial health, which continues to be impacted by inflation, catastrophe exposure, r
  
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• Mortgage rates crawl toward 7% but market optimistic: Freddie Mac

  22-03-2024 16:29 via foxbusiness.com
  
  Mortgage rates hit a new high this week, but the slow crawl to 7% has not dampened home building or the expectation that borrowing costs will fall this year, according to Freddie Mac. The average 30-year fixed-rate mortgage was 6.82% for the week ending March 21, according to Freddie Mac's latest Primary Mortgage Market Survey. That's an increase from the previous week when it averaged 6.74%. A year ago, the 30-year fixed-rate mortgage averaged 6.42%. The average rate for a 15-year mor
  
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• How to save with the CVS ExtraCare and ExtraCare Plus loyalty programs

  22-03-2024 15:33 via foxbusiness.com
  
  About 85% of Americans live within five miles of a CVS Pharmacy, so chances are good that you have visited one before. But you might not know all the details of the CVS loyalty program. It has two tiers of membership: ExtraCare, which is free, and ExtraCare Plus, which costs $5 per month, or $48 annually.The benefits of a free ExtraCare membership include taking advantage of sale prices, receiving custom deals designed just for you, and getting 2% back in CVS ExtraBucks Rewards. ExtraCare Plus c
  
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• Truth Social parent company Trump Media & Technology Group to become publicly traded company

  22-03-2024 15:27 via foxbusiness.com
  
  Shareholders on Friday voted to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned. Shareholders voted in favor of Trump Media & Technology Group (TMTG) merging with its special purpose acquisition company (SPAC) Digital World Acquisition Corp., a publicly traded shell company.TRUTH SOCIAL ON VERGE OF STOCK MARKET APPROVAL, POTENTIALLY NETTING TRUMP BILLIONSThe merger approval means TMTG stock will trade on
  
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• Today's 30-year mortgage rates drop while 15-year rates hold steady | March 22, 2024

  22-03-2024 14:15 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 7.000% as of March 22, which is 0.125 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, 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. Rat
  
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• Truth Social on verge of stock market approval, potentially netting Trump billions

  22-03-2024 13:33 via foxbusiness.com
  
  Former President Trump will find out Friday if his social media platform Truth Social will be green-lighted to be traded on the Nasdaq stock market.A vote will take place on whether Trump’s media company, Trump Media & Technology Group, which operates his Truth Social site, can merge with Digital World Acquisition Corp, a publicly traded shell company.If the deal is approved, Trump Media & Technology Group could soon start trading on the stock market in Digital World&rsqu
  
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• Danger ahead: CBO says debt will consume 166% of GDP in 30 years

  22-03-2024 13:30 via foxbusiness.com
  
  The nonpartisan Congressional Budget Office (CBO) released a report on Wednesday that projected the national debt will rise to unprecedented levels over the next 30 years despite recent deficit reduction efforts and an improved outlook for economic growth.The CBO's projections show the share of federal debt held by the public – a key metric used by economists to track the size of the national debt – rising from 99% of gross domestic product (GDP) in 2024 to 166% of GDP in 2054. 
  
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• See Meta CEO Mark Zuckerberg's brand new 287-foot superyacht

  22-03-2024 13:02 via foxbusiness.com
  
  Mark Zuckerberg reportedly rewarded himself with a luxurious gift: a $300 million super yacht.The billionaire Meta Platforms CEO reportedly purchased the 287-foot vessel with the name Launchpad, according to The Sun and New York Post. FOX Business reached out to Meta Platforms and a Zuckerberg personal spokesperson for comment on the vessel.The vessel reached America a few days ago, cruising into Fort Lauderdale’s port in the Sunshine State, according to Business Insider. Prior to tha
  
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• Walmart CEO says customers willing to pay more for convenience

  22-03-2024 13:00 via foxbusiness.com
  
  Shoppers value convenience so much they are willing to pay more for it, according to Walmart U.S. CEO John Furner. "I think an underlying trend that has really shown up and is with us and I think is here to stay is convenience," Furner said during the National Retail Federation (NRF) 2024 State of Retail & the Consumer discussion on Thursday. According to Furner, "people are willing to trade off, in some cases, prices for things that are more convenient." WALMART CREATING 150
  
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• Costly repairs could mean higher premiums for EV drivers: report

  22-03-2024 09:00 via cbc.ca
  
  A couple in Ontario's Niagara Region are worried their insurance premiums will go up following a long and expensive ordeal to repair their damaged EV. A recent report by credit rating agency Morningstar DBRS says a higher uptake of electric vehicles could lead to higher insurance premiums.
  
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• A collision, 2 months and $18K later, a couple worries their EV insurer will raise rates

  22-03-2024 09:00 via cbc.ca
  
  A couple in Ontario's Niagara Region are worried their insurance premiums will go up following a long and expensive ordeal to repair their damaged EV. A recent report by credit rating agency Morningstar DBRS says a higher uptake of electric vehicles could lead to higher insurance premiums.
  
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