Business news

• These are the US cities with the highest inflation

  10-04-2024 23:38 via foxbusiness.com
  
  Elevated inflation continues to wallop Americans' buying power across the country, but rising prices are impacting some areas more than others.The latest consumer price index (CPI) released by the Labor Department on Wednesday showed prices in the U.S. climbed 3.5% in March from a year ago, rising for the third straight month and remaining well above the Federal Reserve's 2% target.The CPI is a broad measure of the price of everyday goods, including gasoline, groceries and rent. Using data from
  
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• New FCC rules require 'nutrition label' for high-speed internet plans

  10-04-2024 22:44 via foxbusiness.com
  
  Broadband internet providers are rolling out new breakdowns of their plans' speeds and costs in disclosures modeled after nutrition labels to comply with requirements from the Federal Communications Commission (FCC).The FCC's new rules took effect Wednesday for the largest internet service providers (ISPs) to display the nutrition label-style broadband disclosures at any point of sale — including online and in stores — starting Wednesday, April 10. Smaller providers with fewer subscr
  
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• Fed officials worried inflation progress is stalling, meeting minutes show

  10-04-2024 22:24 via foxbusiness.com
  
  Federal Reserve officials raised concerns during their March policy-setting meeting that price pressures within the economy were heating up again, even before the government reported that inflation accelerated again last month.Minutes from the U.S. central bank's March meeting released Wednesday showed that officials remain attentive to inflation risks, with some concerned that progress toward the Fed's 2% target could stall."Participants generally noted their uncertainty about the persistence o
  
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• Start investing today: 5 steps to take right now

  10-04-2024 22:09 via foxbusiness.com
  
  If you're thinking about investing, there is no time like the present, advises Rosecliff founder and managing partner Mike Murphy. "Recessions come and recessions go, people need to look for opportunities to invest and not try to time the next recession" he told FOX Business' Stuart Varney. Here's his five steps to getting started in FOX Business' Financial 101 Planning series.Get at it. There is no need to monitor the markets. Just decide you're ready and set aside some funds. "T
  
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• A top goal of Americans is to buy a new car, build emergency savings: study

  10-04-2024 22:02 via foxbusiness.com
  
  Americans are itching to buy new cars this year after a particularly difficult few years of record-high prices. About 22% of respondents to an Edelman Financial Engines survey said they were aiming to buy a new car in 2024.This was just one goal survey respondents talked about most. The most prominent goal respondents wanted to achieve was saving for emergencies. More than half of those surveyed wanted to build or grow their emergency funds over the next year. Similarly, Americans want to g
  
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• Consumer Reports says USDA National School Lunch Program should drop Lunchables

  10-04-2024 21:34 via foxbusiness.com
  
  Consumer Reports wants the U.S. Department of Agriculture (USDA) and its National School Lunch Program to drop Lunchables.The consumer-focused non-profit issued its call to the federal agency and started a petition on Tuesday, citing sodium and chemical levels that it said were found during comparisons and testing it conducted. The non-profit’s testing involved 12 prepackaged products from Lunchables and several other brands that it obtained from stores, according to a press release.Grocer
  
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• Former NFL star reflects on past financial mistakes, issues warning to current players: 'It's a short career'

  10-04-2024 21:26 via foxbusiness.com
  
  Former NFL star Wale Ogunleye is using his financial expertise to work with current and former professional athletes who want to avoid burning through their fortune.Adewale "Wale" Ogunleye, a former Pro-Bowl defensive end, leads the UBS Sports and Entertainment business for Wealth Management, giving him the unique opportunity to help athletes avoid making the same financial mistakes he, and many other athletes, have made.EX-NFL STAR AT UBS KEEPS PLAYERS FROM GOING BROKE"When it came to my financ
  
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• See Toyota's first 4Runner SUV in 15 years, and it is not an EV

  10-04-2024 20:31 via foxbusiness.com
  
  Toyota introduced its all-new 2025 4Runner this week, unveiling its first major update to the popular SUV in 15 years.The sixth-generation 4Runner, available for sale in the U.S. in the fall, will have a hybrid version available for the first time."This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family story," said Dave Christ, Toyota group vice president and general manager, in a statement.BUICK UNVEILS ENCLAVE SUV THAT FEATURES NEW TECH, REDESIGN
  
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• ‘Star Wars’ chicken leg stilt props from 1977 movie to go for thousands at auction: ‘Bizarre’

  10-04-2024 20:23 via foxbusiness.com
  
  A unique prop from the original "Star Wars" movie is up for grabs, with an auction house calling it is "one of the most bizarre finds."Giant chicken leg stilts worn by English actor Peter Barbour in the 1977 "Star Wars" movie are set to sell at a Hansons Auctioneers "Star Wars" auction on May 3, 2024. The props used in director George Lucas’ film have a guide price of between roughly $1,000 and $2,100, per Hansons, a United Kingdom-based auction house.HAN SOLO'S BLASTER SELLS FOR OVER
  
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• Boeing 737 Max diverts to Idaho after in-flight emergency

  10-04-2024 20:23 via foxbusiness.com
  
  A Boeing 737 Max 8 operated by Air Canada made an emergency landing in Idaho this week after experiencing an in-flight emergency. On Tuesday, Flight 997 diverted to Boise during its trip from Mexico City to Vancouver, Canada, after the pilots received an indicator light in the flight deck, the airline told FOX Business. Officials later discovered that it was due to a faulty cargo hold indicator.The flight landed at Boise Airport after the light came on as a precautionary measure. The a
  
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• How It Started... How It's Going: Energy prices soar as Biden pursues green agenda

  10-04-2024 20:05 via foxbusiness.com
  
  Energy prices have shot up by more than a third since President Biden assumed office in 2021 as stubborn inflation continues to tax Americans. The Labor Department's new Consumer Price Index (CPI) report on Tuesday showed that gasoline and housing costs were the biggest drivers of a 0.4% increase in March. Prices climbed 3.5% from the same time last year, higher than economists had predicted. Oil prices have reached a five-month-high. "There is no improvement here, we’re moving i
  
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• Stocks sink after hot March inflation data

  10-04-2024 20:02 via foxbusiness.com
  
  U.S. stocks sank across the board after hotter-than-expected inflation data dimmed hopes of a June rate cut by the Federal Reserve. The Dow Jones Industrial Average fell more than 500 points in volatile trading following the release of the data on Wednesday and closed with a 422.16 point loss or 1%. The Nasdaq Composite and S&P 500 fell 0.8% and 0.9%, respectively. Treasury yields spiked, with the 10-year hitting 4.5% for the first time in 2024, and the 2-year yield hovering just b
  
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• Economist warns of urgent US 'debt detox': We're going to be in a recession before people know it

  10-04-2024 19:35 via foxbusiness.com
  
  A market expert is sounding the alarm on the country’s growing debt crisis, suggesting a "debt detox" in order to see the "the next great boom.""We’re going to have to finally have a short-term debt detox before we can get going on the next great boom," Financial author and HS Dent founder Harry Dent explained during his appearance on "Cavuto: Coast to Coast" on Tuesday."Here's the number, Neil," Dent said to host Neil Cavuto. "Nobody's totaling this up: Twenty-seven trillion [dollar
  
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• 10-year private student loan interest rates plunge

  10-04-2024 19:24 via foxbusiness.com
  
  During the week of Apr. 1, 2024, average private student loan rates fell for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and increased for 5-year variable-rate loans.Through Credible, you can compare private student loan rates from multiple lenders.For 10-year fixed private student loans, interest rates plummeted by over one and a half percentage points, while 5-year variable student loan interest rose by nearly a full perc
  
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• Where are high prices hitting American families the hardest?

  10-04-2024 18:33 via foxbusiness.com
  
  Inflation rose faster than expected in March as an increase in the cost of rent and gasoline kept prices painfully high for millions of Americans.The Labor Department said Wednesday that the consumer price index (CPI), a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in March from the previous month. Prices climbed 3.5% from the same time last year, above the 3.2% figure recorded in February. "This was a painful report with few bright spots fo
  
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• USPS proposes raising stamp prices again

  10-04-2024 18:02 via foxbusiness.com
  
  The U.S. Postal Service is proposing another increase in stamp prices.The agency on Tuesday laid out a slew of price hikes it aims to implement in July, saying they would amount to roughly 7.8% increases across mailing services.Under the new prices put forward, USPS said it would charge 73 cents for a First-Class Mail Forever stamp, up 5 cents from the current 68 cents. This would mark the most-recent increase since the USPS instituted a 2-cent increase on First-Class Mail Forever stamps an
  
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• Gas prices have again doubled since Biden took office, despite White House claiming ‘costs have fallen’

  10-04-2024 17:27 via foxbusiness.com
  
  Gas prices are on the rise again in the U.S. and have more than doubled since President Biden took office despite the White House recently saying that "costs have fallen for everyday purchases from a gallon of gas to a gallon of milk." As of Wednesday, AAA’s national average cost for a gallon of gas is approximately $3.62, up from the $2.39 figure when Biden was sworn in on Jan. 20, 2021. That means the price of gas has risen more than 50% since the beginning of Biden’s pre
  
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• Inflation accelerates more than expected in March as high prices persist

  10-04-2024 17:25 via foxbusiness.com
  
  Inflation accelerated in March for the third straight month, keeping prices painfully high for millions of Americans and likely delaying any interest rate cuts by the Federal Reserve.The Labor Department said Wednesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in March from the previous month. Prices climbed 3.5% from the same time last year, above the 3.2% figure recorded in February. Both of those figure
  
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• Boeing whistleblower raises concerns over safety of 787 Dreamliner jets

  10-04-2024 17:21 via foxbusiness.com
  
  The Federal Aviation Administration (FAA) launched another investigation into Boeing after a whistleblower claimed the airplane manufacturer took shortcuts with its Dreamliner jets.Sam Salehpour, a Boeing engineer, alleged in documents to the FAA and an interview with The New York Times that the shortcuts taken when manufacturing the 787 Dreamliner jets could become a serious problem as the airplanes get older, raising even more questions regarding the company's manufacturing practices.The FAA c
  
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• New construction remains popular as existing home listings continue to lag

  10-04-2024 17:01 via foxbusiness.com
  
  New construction homes are becoming more popular, mainly due to the low inventory of existing homes.The National Association of Home Builders/Wells Fargo Housing Market Index — which measures the market conditions of new home sales — rose by three points to 51 in March. This is the highest it’s been since July. This rise in the index signals a greater desire for new construction among current homebuyers."The solid level of single-family production in February tracks closely wit
  
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• Whistleblower alleges safety issues with Boeing 787 and 777 jets

  10-04-2024 16:02 via cbc.ca
  
  Whistleblower faced retaliation after he identified engineering problems that affected the structural integrity of the company's 787 and 777 jets, his attorneys said.
  
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• Bank of Canada holds key interest rate at 5%, says things moving in right direction

  10-04-2024 15:49 via cbc.ca
  
  The Bank of Canada has held its key interest rate at five per cent for the sixth consecutive time since July, saying it will be looking for signs that slowing inflation is sustained before moving on rate cuts.
  
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• Bank of Canada holds key interest rate at 5%

  10-04-2024 15:49 via cbc.ca
  
  The Bank of Canada has held its key interest rate at five per cent for the sixth consecutive time since July.
  
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• Today's 30-year mortgage rates hold steady while 15-year terms fall | April 10, 2024

  10-04-2024 15:33 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 7.125% as of April 10, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is 0.250 percentage points lower 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 get the best deal. Rat
  
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• New York ranks last in economic outlook study of all 50 US states

  10-04-2024 14:00 via foxbusiness.com
  
  New York's economic outlook is the worst of any other U.S. state due to its high taxes and regulatory environment, according to new data.The American Legislative Exchange Council's (ALEC) annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, released this week, found New York ranked dead last for economic outlook for the 11th year in a row.The report, co-authored by Reagan economist Dr. Arthur B. Laffer, economic policy expert and FOX Business contributor Stephen Moo
  
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• Costco gold and silver sales 'seem to have grown considerably': Wells Fargo

  10-04-2024 13:30 via foxbusiness.com
  
  Costco Wholesale got into precious metals sales last year with gold bars and, according to a Tuesday research note from Wells Fargo, those may have picked up quite a bit since then.In the note, Wells Fargo equity analyst Edward Kelly wrote Costco’s sales of gold and silver "seem to have grown considerably" since then-CFO Richard Galanti announced in mid-December the retailer had "sold over $100 million of gold during the [first] quarter." COSTCO WILL CRACK DOWN ON NON-MEMBERS EATING A
  
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• What's the most expensive home you could afford?

  10-04-2024 10:00 via cbc.ca
  
  Use this tool to calculate the most expensive home you could buy based on your income and passing the mortgage “stress test."
  
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