Business news

• LARRY KUDLOW: Trump is building a winning coalition

  02-04-2024 23:59 via foxbusiness.com
  
  Former President Donald Trump posted his $175 million bond and Letitia James is not going to take all of his cash, or his assets, or his businesses. Mr. Trump has actually had two big wins in the New York courts. For one, the appeals judges knocked down the bond from $454 million to $175 million, and secondly, Mr. Trump then successfully posted the bond, clearing the way for an appeal and — make it three wins: because of the successful Trump media stock offering, which I sti
  
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• Utilities experts speak on nation’s ability to accommodate wider EV adoption: ‘Doesn’t just happen magically’

  02-04-2024 23:56 via foxbusiness.com
  
  Last month, the Biden administration finalized highly-anticipated environmental regulations that are ultimately intended to incentivize wider adoption of electric vehicles (EV). The aggressive emissions standards for gas-powered vehicles are meant to compel automakers to increase production and sales of EVs, plug-in hybrids, traditional hybrids and fuel cell vehicles. Under one "low cost" model outlined by the Environmental Protection Agency (EPA), officials said automakers would be fo
  
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• Wyoming crypto bank not backing down in fight to access Federal Reserve

  02-04-2024 23:50 via foxbusiness.com
  
  Custodia Bank, a Wyoming crypto bank that has been locked in legal combat with the Federal Reserve for nearly two years, is considering an appeal of a district judge’s decision to deny it access to the Fed’s banking facilities, FOX Business has learned.Custodia, one of four crypto banks in Wyoming, tells FOX Business it believes the judge's decision was wrong, and it’s considering all of its options, including an appeal."We find ourselves on the frontlines o
  
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• Trapped vessels navigate Port of Baltimore after bridge collapse

  02-04-2024 23:15 via foxbusiness.com
  
  The Port of Baltimore opened a temporary channel Monday for some tugs and barges that had been stranded in the harbor by last week's bridge collapse. Work toward a wider restoration of commercial shipping traffic at the port remains ongoing.The port's primary shipping channel has been blocked since the container ship MV Dali lost power and crashed into a support column of the Francis Scott Key Bridge, killing six construction workers when the bridge collapsed into the Patapsco River. A reco
  
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• AI needs a lot of electricity — oil and gas will help

  02-04-2024 23:09 via foxbusiness.com
  
  Global energy demand is projected to surge in coming years amid the growth of artificial intelligence, which requires massive amounts of electricity.The Wall Street Journal reported that big tech companies' "obsession" with finding enough energy to power the AI boom was the talk of CERA Week by S&P Global last month.America's electric grid will need a major boost to power the rapid rise in data centers popping up across the country, and despite the push for renewables, there is growing skept
  
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• Taylor Swift is officially part of the Forbes annual billionaires list

  02-04-2024 22:21 via foxbusiness.com
  
  Taylor Swift made her debut on Forbes’ yearly billionaires rankings.Forbes reported Tuesday the pop star’s personal fortune amounted to an estimated $1.1 billion. That figure put her at No. 2,545 in the rankings.In total, 2,781 people have a net worth of at least 10 figures, according to the magazine. The holdings of those individuals were reportedly worth a collective $14.2 trillion.Swift achieved the status from the success of her music and concerts, according to Forbes.TAYLOR SWIF
  
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• WestJet Encore pilots vote for strike mandate, adding to airline's turbulence

  02-04-2024 21:23 via cbc.ca
  
  WestJet Encore pilots could go on strike as soon as April 17 after they approved a strike mandate Tuesday after aviators at the company's regional carrier voted 97 per cent in favour of strike authorization, the Air Line Pilots Association said.
  
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• Trump files $175 million appeal bond, chairman of company says 'it was an easy decision' to underwrite

  02-04-2024 21:22 via foxbusiness.com
  
  Former President Donald Trump posted a $175 million bond in the New York civil fraud case Monday, after a state appeals court decided last week to reduce the amount required from $454 million. The bond protects Trump’s assets from seizure by New York Attorney Letitia James while he appeals Judge Arthur Engoran’s decision finding him liable for fraud. Trump obtained the bond from Knight Specialty Insurance Company, whose Chairman Don Hankey said negotiations included accepti
  
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• Biden accused of failing to disclose vacations gifted to him by wealthy supporters

  02-04-2024 19:51 via foxbusiness.com
  
  FIRST ON FOX: A conservative watchdog group is accusing President Biden of possible violations of federal financial disclosure laws related to lavish vacations he took at the homes of wealthy businessmen and Democratic donors. Russ Vought, president of the Center for Renewing America, is asking the Department of Justice to investigate Biden for alleged "serious ethical lapses" in failing to disclose free vacations that do not appear to qualify under certain exemptions in the Ethics in Gover
  
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• Nexus application fee increasing to $120 US at beginning of October

  02-04-2024 19:46 via cbc.ca
  
  The cost to apply for the Nexus trusted-traveller program will increase from $50 to $120 on Oct. 1 of this year, the government announced Tuesday.
  
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• FTX founder Sam Bankman-Fried says he is remorseful, 'haunted' in post-sentencing interview

  02-04-2024 19:30 via foxbusiness.com
  
  FTX co-founder and former CEO Sam Bankman-Fried expressed remorse in his first interview since being sentenced to 25 years in prison after being convicted of defrauding customers of his bankrupt cryptocurrency exchange."It's most of what I think about each day," the one-time billionaire told ABC News of his actions via email from the Metropolitan Detention Center in Brooklyn, acknowledging FTX's downfall was the result of several "bad decisions" he made in 2022, the year the platform collapsed.H
  
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• California fast food franchisee slams new minimum wage, invests in Nevada over six-figure loss

  02-04-2024 19:30 via foxbusiness.com
  
  Restaurateurs in California are starting to take their own action showing disapproval of the newly-enacted statewide $20 minimum wage."We have a very finite set of economic conditions that need to be met for us to make money. And certainly, this bill has cast doubt [as] to whether we can continue in this state," Alex Johnson, owner of five Cinnabon and five Auntie Anne’s locations in San Francisco, said on "Varney & Co." Tuesday."I've already started to invest in the neighboring state
  
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• Jon Stewart says Apple asked him not to interview FTC head Lina Khan

  02-04-2024 19:21 via foxbusiness.com
  
  Jon Stewart said he once hoped to have the Federal Trade Commission’s (FTC) Lina Khan on as a podcast guest but Apple urged him not to do so."I’ve got to tell you. I wanted to have you on a podcast, and Apple asked us not to do it, to have you," the comedian told Khan during her Monday appearance on Comedy Central’s "The Daily Show."The podcast that Stewart wanted to have the FTC chair join as a guest was attached to the Apple TV+ show "The Problem With Jon Stewart" that he hos
  
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• Stuart Varney: Does America want to look like Gavin Newsom's California?

  02-04-2024 19:11 via foxbusiness.com
  
  During his "My Take," Tuesday, "Varney & Co." host Stuart Varney discussed Gavin Newsom's political future, arguing the governor seems like a popular politician in California, but the rest of the nation views his state as a "socially dysfunctional society." STUART VARNEY: If you are the governor of a state, and you run for the presidency, your state had better be doing well.Gavin Newsom is the governor of California. MAJOR GAVIN NEWSOM DONOR BENEFITTING FROM CALIFORNIA $20 MINIMUM
  
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• Aspiring homeowners in Arizona in despair over ‘wild’ prices: report

  02-04-2024 18:28 via foxbusiness.com
  
  Homeowners and renters in Arizona, a critical swing state for the 2024 presidential election, are concerned over the increasingly difficult prospect of owning a home, according to a recent report. "These prices are just wild," Eren Mendoza, an Arizona resident, told The New York Times. "It’s pretty much all anybody talks about." Mendoza, who lives with her partner, Devon Lawrence, said that even two incomes aren't enough to support life in Arizona. "The fact that a dual income ca
  
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• Yellen visiting China to combat climate change, protect interests of American workers

  02-04-2024 17:58 via foxbusiness.com
  
  Treasury Secretary Janet Yellen is scheduled to visit China this week to advance the interests of U.S. workers, U.S. national security and attempt to cut down on climate change.Yellen will travel to Gwangju, China, from Thursday to Saturday before heading to Beijing for meetings and engagements from April 7 to April 9, according to a senior treasury official. During her visit to China, Yellen will meet with senior Chinese government officials, leading U.S. firms doing business in China and will
  
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• Chipotle offering food lovers a chance to win free burritos for a year on National Burrito Day

  02-04-2024 17:53 via foxbusiness.com
  
  National Burrito Day will be celebrated on Thursday, April 4, when millions will turn to one of their favorite spots to commemorate the occasion. Chipotle is taking celebrations to the next level by launching a new game ahead of the national day — which could score burrito lovers a buy-one, get-one code and the chance to win free burritos for a year. The Burrito Vault is opening on April 2nd at 12 p.m. PT for all burrito lovers.CHIPOTLE CUSTOMER REVEALS HOW SHE GETS EXTRA FOOD FO
  
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• Social Security Administration announces new measures to deal with overpayments

  02-04-2024 17:35 via foxbusiness.com
  
  The Social Security Administration (SSA) is capping clawbacks of benefit overpayments at 10% of benefits checks instead of 100% after being criticized for draconian repayment plans that left some beneficiaries destitute.Social Security Commissioner Martin O'Malley said in a statement that the agency would cease "the heavy-handed practice of intercepting 100% of an overpaid beneficiary's monthly Social Security benefit" if they failed to respond to a demand for repayment. Additionally,
  
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• Facebook let Netflix peek into user DMs, explosive court docs claim

  02-04-2024 17:35 via foxbusiness.com
  
  The social media giant Meta allegedly allowed Netflix to access Facebook users' direct messages for nearly a decade, breaking anti-competitive activities and privacy rules, explosive court documents claim.The court documents, which were unsealed last week, are part of a major anti-trust lawsuit filed by U.S. citizens Maximilian Klein and Sarah Grabert, who claim Netflix and Facebook "enjoyed a special relationship" so that Netflix could better tailor its ads with Facebook.Fac
  
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• AT&T data breach: How to protect your information

  02-04-2024 16:45 via foxbusiness.com
  
  Cybersecurity experts are urging AT&T customers to ramp up their security measures, such as changing their passwords, following a data breach that impacted 73 million current and former accounts. Bob Huber, chief security officer of cybersecurity company Tenable, told FOX Business that "affected customers should change their passwords immediately and set up two-factor authentication where possible."The company said it is assessing the breach and whether the data, which was leaked to the
  
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• Trucker warns Biden admin taking 'extreme' measure to put industry 'out of business'

  02-04-2024 16:28 via foxbusiness.com
  
  Small business truckers across America are up in arms over the Biden administration’s latest green energy push on their industry."This office in the White House is completely not listening to the trucker or the end user or the buyer. They just want to do what the extreme environmentalists want," Lewie Pugh, Owner-Operator Independent Drivers Association (OOIDA) board member, said on "Varney & Co.," Monday."And what it's going to do is put lots and lots of truckers out of business."Pugh
  
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• Tesla stock slides on big deliveries shortfall

  02-04-2024 16:11 via foxbusiness.com
  
  Tesla's first quarter deliveries fell way short of estimates, sending the shares down sharply on Tuesday and casting a cloud on electric-vehicle demand.Elon Musk's EV maker produced over 433,000 vehicles during the first three months of the year, down 12% from the prior quarter and it delivered 387,000 down 20% from the prior quarter, the company reported. Analysts had expected the automaker to deliver over 400,000, according to estimates. The latest deliveries' snapshot is another headwind
  
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• Today's 15- and 30-year mortgage rates rise | April 2, 2024

  02-04-2024 15:25 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 7.125% as of April 2, which is 0.125 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is also 0.125 percentage points higher than 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 g
  
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• Federal plan would count rent toward a credit score. Who will it help — and who could it hurt?

  02-04-2024 10:00 via cbc.ca
  
  As part of its Renters' Bill of Rights, the federal government introduced a proposal that would make timely rental payments count toward a person's credit score. The aim is to level the playing field for young renters, but there could be pitfalls, experts say.
  
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