Business news

• LARRY KUDLOW: Donald Trump cut taxes and the entire economy benefited

  16-04-2024 23:45 via foxbusiness.com
  
  Every time Joe Biden says something about tax policy, I have to go back and write another riff to rebut all of his falsehoods. I'm so tired of this game. Today in Scranton, Biden put out yet another phony tax talking-point paper with untruth after untruth. It's pure class warfare. Millionaires are bad! Billionaires are worse! And if somebody makes a million bucks, some middle- or lower-income family loses a million bucks, but that is not how our capitalist economy works. It's not a zer
  
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• Boeing's tip line submissions were up 500% on the year during the first quarter

  16-04-2024 23:22 via foxbusiness.com
  
  Submissions to Boeing's tip line for safety and quality concerns surged 500% in the first quarter of this year compared to a year ago.Boeing's manufacturing processes have been under heightened scrutiny for quality and safety issues after a Jan. 5 incident in which a Boeing 737 Max 9 operated by Alaska Airlines experienced a mid-air blowout of its plug door panel after taking off, causing the cabin to depressurize and prompting the flight to return to Oregon's Portland International Airport.&nbs
  
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• Are you renting with no plans to buy? Here's what the federal budget has for you

  16-04-2024 22:44 via cbc.ca
  
  The federal government tabled its annual budget on Tuesday with a promise to open the door to homeownership for millennial and Gen Z renters. You’ll have to read the fine print to find measures for young renters who can’t buy a home — or just don’t want to.
  
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• Liberals pledge $9B in new money for Indigenous communities in 2024 budget

  16-04-2024 22:43 via cbc.ca
  
  The Trudeau government is promising $9 billion in new cash for Indigenous communities over the next five years, a smaller spend than some past budgets but one the government says builds on past investments and maintains an upward trend.
  
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• Lawmaker demands FTC probe Temu parent company over alleged CCP ties

  16-04-2024 22:40 via foxbusiness.com
  
  A Republican lawmaker is urging the Federal Trade Commission to probe the China-based parent company of fast fashion retailer Temu over its alleged ties to the Chinese Communist Party.Rep. Brian Mast, R-Fla., on Tuesday sent a letter to the FTC calling out PDD Holdings Inc. and its subsidiaries, Pinduoduo and Temu, for "harmful business practices here in the United States." The letter urges the FTC to investigate after a pair of class action lawsuits were filed over concerns about the Temu app a
  
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• Wawa offering any size free coffee to celebrate its 60th anniversary

  16-04-2024 21:39 via foxbusiness.com
  
  Wawa has been handing out complimentary cups of joe as it commemorates six decades of retail operations. Fans and customers of the convenience store chain can score a free hot coffee so long as they visit one of its over 1,000 locations on Tuesday, the company said.April 16 represents the opening date of Wawa’s first-ever store. The convenience store chain has dubbed it "Wawa Day."Customers can pick any size for their free 60th anniversary coffees, per Wawa. The giveaway does not appl
  
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• Boston Marathon bomber fighting to keep $4,000 prison canteen account

  16-04-2024 21:38 via foxbusiness.com
  
  The man convicted and sentenced to death for carrying out the Boston Marathon bombing in 2013 is fighting to keep federal prosecutors from seizing the funds he has accumulated in his prison canteen account.The Boston Herald reported an attorney for Dzhokhar Tsarnaev, 30, filed an appeal seeking to stop the feds in Boston from taking the $4,200-plus in Tsarnaev's account, arguing the death row inmate "is neither hoarding funds nor spending profligately."According to the outlet, prosecutors say Ts
  
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• Fed's Powell says inflation data this year shows a 'lack of progress'

  16-04-2024 21:13 via foxbusiness.com
  
  Federal Reserve Chair Jerome Powell on Tuesday said it is likely that inflation will take "longer than expected" to reach the central bank's 2% target, casting fresh doubt on when policymakers may cut interest rates this year.Powell cited the string of inflation reports during the first three months of the year that showed progress had largely stalled on inflation. "More recent data shows solid growth and continued strength in the labor market, but also a lack of further progress so far thi
  
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• Jamie Dimon nets $183M after completing planned stock sale

  16-04-2024 20:39 via foxbusiness.com
  
  JPMorgan Chase CEO Jamie Dimon finished the planned sale of his 1 million shares in the bank Monday.Dimon offloaded the remaining 178,222 shares on Monday, which were worth about $33 million, according to a filing with the Securities and Exchange Commission (SEC). He sold 821,778 shares in February at a value of roughly $150 million. The bank said in late October that Dimon and his family would sell 1 million shares in 2024 "for financial diversification and tax-planning purposes." JPMorgan
  
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• Rising number of workers depend on side jobs

  16-04-2024 20:07 via foxbusiness.com
  
  Side hustles are becoming more common, particularly with younger generations who haven’t built up wealth. As of February 2024, 22% of workers in the U.S. had side gigs, a PYMNTS survey found.The money earned through these side hustles isn’t used as discretionary income, or even for savings, but rather to meet the basic cost of living. Of the 22% of workers with side hustles, 53% are consumers living paycheck-to-paycheck. Additionally, about 30% of workers surveyed said that losing th
  
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• American Airlines pilots union sees 'significant spike' in safety-related issues

  16-04-2024 19:44 via foxbusiness.com
  
  The American Airlines pilot union is warning that there has been a "significant spike" in both safety- and maintenance-related problems within its operation.  Among the "problematic trends" the union has been tracking are tools left in wheel wells, an increasing number of collisions between aircraft being tugged or towed, and an increasing number of items left in the safe area near jet bridges, the Allied Pilots Association (APA) said in a warning to pilots Saturday.In one instance, the APA
  
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• No college degree? See the best and worst places in the US for a job

  16-04-2024 19:34 via foxbusiness.com
  
  U.S. employers – both public and private – are increasingly ditching college degrees as a job requirement across an array of roles amid a nationwide shortage of workers, but the opportunities for good-paying jobs can vary greatly depending on where a candidate lives.That is according to a new study ranking the best and worst job markets in the U.S. for job-seekers that do not hold degrees, indicating some areas are lagging behind in catching up with the trend.Using data from the U.S.
  
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• Many student loan borrowers missing opportunity to find debt relief in SAVE plan: survey

  16-04-2024 18:27 via foxbusiness.com
  
  Many borrowers currently struggling with student loan payments would benefit from enrolling in an income-driven repayment plan, according to a recent Student Debt Crisis Center (SDCC) survey.Roughly three out of four borrowers who make $75,000 or less annually and would benefit from the SAVE plan are not currently enrolled in the plan, the survey said. Moreover, 38% of these borrowers are at risk of defaulting on their student loan payments six months from now and could be missing an opport
  
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• Stuart Varney: Liz Truss warned Trump the deep state is waiting

  16-04-2024 17:48 via foxbusiness.com
  
  During his "My Take," Tuesday, "Varney & Co." host Stuart Varney discussed a potential "deep state" effort to derail Donald Trump's second term, if he's re-elected, after former British Prime Minister Liz Truss warned the 45th president about the power of government bureaucrats.STUART VARNEY: Liz Truss was Britain's prime minister. She lasted only 49 days.Writing in today's Wall Street Journal, she says she was done in by Britain's deep state.TRUMP TRIAL: JURY SELECTION TO RESUME AFTER POSSI
  
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• IMF warns of ongoing inflation risk to global economy

  16-04-2024 17:46 via foxbusiness.com
  
  The International Monetary Fund on Tuesday modestly upgraded its outlook for the world economy, but warned of ongoing risks including persistent inflation and geopolitical turmoil. The Washington-based institution said in its latest World Economic Outlook that global gross domestic product will grow by 3.2% this year – which represents a 0.1 percentage point bump from its January forecast – and expand at that same pace in 2025."Despite gloomy predictions, the global economy rema
  
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• Trump media company preparing livestream content for Truth Social

  16-04-2024 16:38 via foxbusiness.com
  
  Former President Donald Trump's social media company is planning to soon roll out a live-streaming platform.Trump Media & Technology Group Corp. (TMTG) announced Tuesday that the upcoming content delivery network will begin on the Truth Social app."After six months of testing on its Web and iOS platforms, [TMTG] has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network," the company said in a press release
  
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• FAA rolling out new technology to reduce risk of runway accidents

  16-04-2024 15:52 via foxbusiness.com
  
  The Federal Aviation Administration (FAA) is rolling out new airfield surveillance systems to minimize the risk of close calls between aircraft on the runway.Austin-Bergstrom, Indianapolis, Nashville and Dallas Love will be the first airports to receive the surface awareness initiative (SAI) system, which "will reduce the risk of runway incursions by improving air traffic controllers’ situational awareness," the FAA said on Monday.The system will be implemented at the four airports by July
  
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• Experts warn over 'wobbly' US economy, Biden's economic 'lie'

  16-04-2024 15:33 via foxbusiness.com
  
  Though America’s economy has shown some signs of health and growth, two experts warn it’s more "wobbly" than it seems."The economy is growing. However, the gold price commodity prices are telling us the dollar is wobbly," Forbes Media founder and CEO Steve Forbes said on a "Kudlow" panel, Monday."The Fed's got problems ahead," he continued, "and you don't cure it by raising interest rates and depressing the economy."Following up on Forbes’ commentary, ex-Council of Economic Adv
  
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• Today's 15- and 30-year mortgage rates rise | April 16, 2024

  16-04-2024 15:20 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 7.500% as of April 16, which is 0.125 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.625%, 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
  
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• Mortgage interest still driving inflation, as overall rate nudges up to 2.9%

  16-04-2024 14:42 via cbc.ca
  
  Canada's inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase, along with shelter costs such as mortgage interest rates and rent.
  
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• Inflation up slightly to 2.9% in March, thanks to gasoline and shelter prices

  16-04-2024 14:42 via cbc.ca
  
  The consumer price index shows inflation was at 2.9% in March compared to the year before, a slight increased compared to February.
  
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• Gasoline, shelter costs drive inflation up a smidge to 2.9%

  16-04-2024 14:42 via cbc.ca
  
  Canada's inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase.
  
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• Tesla to lay off more than 10% of workforce

  16-04-2024 14:31 via foxbusiness.com
  
  Tesla confirmed its laying off more than 10% of its global workforce following weak first quarter deliveries and increasing competition in the electric vehicle (EV) market, according to a filing with the Securities and Exchange Commission. "Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth, there has been a duplication of roles and job functions in certain areas. We believe it is extremely important to look at every aspect of the
  
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• Tax refunds up from 2023; most Americans plan to pay down debt or save

  16-04-2024 14:30 via foxbusiness.com
  
  American taxpayers will on average see larger tax refunds compared to a year ago, and most plan to use that money to either pay down debt or save, though more plan to invest it or go shopping compared to a year ago, according to a new report from the Bank of America Institute.Internal data from Bank of America showed that for average tax refunds received via direct deposit through March 31, 2024, taxpayers earning less than $50,000 a year saw their refunds grow by nearly 9% from a year ago. That
  
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• See Jeff Bezos and Lauren Sanchez step out at Coachella

  16-04-2024 14:30 via foxbusiness.com
  
  Amazon founder Jeff Bezos and fiancée Lauren Sanchez spent some quality time together over the weekend as they took in music at Coachella.The festival, held in Indio, California each year, often draws big names as both performers and spectators. The first of two weekends took place April 12-14 this year.At Coachella, the engaged couple watched artists like Lana Del Rey and Tyler, The Creator, according to the Daily Mail.Del Rey, known for songs like "Summertime Sadness" and "West Coa
  
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• Shoppers Drug Mart faces proposed class action for alleged 'unethical corporate practices'

  16-04-2024 00:01 via cbc.ca
  
  A former Shoppers Drug Mart franchise owner has filed a proposed class action lawsuit against the Canadian retail pharmacy chain, and its parent company Loblaw, alleging the companies imposed “unsafe and unethical” corporate practices on franchise owner pharmacists to increase profits. In a statement, a Loblaw spokesperson told CBC News "this case has no merit whatsoever, and we intend to vigorously defend it."
  
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