Business news

• Trump Media shares volatile after historic conviction

  31-05-2024 23:19 via foxbusiness.com
  
  Shares of Trump Media and Technology Group, the parent of former President Trump's Truth Social, bounced between gains and losses in early trading on Friday after a jury found the former president guilty on all 34 counts in a criminal hush money trial. Trump Media shares are up more than 7% this week. Broader stocks were marginally higher.Manhattan District Attorney Alvin Bragg charged Trump with falsifying business records in the first degree. Trump pleaded not guilty to all counts but was
  
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• Trump’s conviction, stocks May rally, oil merger mania, Costco's update

  31-05-2024 22:56 via foxbusiness.com
  
  -Former President Trump's historic conviction -Stocks end the month of May on a high note -The Fed's preferred measure of inflation released -Oil patch sees more merger mania -Disney CEO Bob Iger receives good news -Costco clears up speculation over its popular food combo deal -McDonald's pushes back on price-hike backlash -A major U.S. grocer with 400 locations is shutting some of its stores THE VERDICT: A New York City jury convicted the former President
  
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• San Francisco's Anchor Brewing, once left for dead, purchased by Chobani founder

  31-05-2024 22:41 via foxbusiness.com
  
  San Francisco's Anchor Brewing Co., which shut down last summer after 127 years in business, is being resurrected.Chobani CEO and founder Hamdi Ulukaya purchased the brand and all its property Friday for an undisclosed amount and promises to restore it to its former glory.The Turkish billionaire said in a video message announcing the move he first heard of Anchor last year when news broke it was closing, and he decided to visit San Francisco to check it out."It wasn't until I came across this ar
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,609,796,817,427.65 as of 5/31/24

  31-05-2024 22:34 via foxbusiness.com
  
  The U.S. national debt is climbing at a rapid pace and has shown no signs of slowing down, despite the growing criticism of massive levels of government spending.The national debt — which measures what the U.S. owes its creditors — increased to $34,609,796,817,427.65 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $11 billion from the figure reported the previous day.By comparison, just four decades ago, the national
  
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• Gas prices dropped by more than they have all year as after-holiday demand dips

  31-05-2024 20:59 via foxbusiness.com
  
  Consumers are paying less at the pump this week as average gas prices dropped by five cents, a AAA report found. The average gallon of gas now costs $3.56.This week’s drop was the largest the country has seen this year. Demand dropped this past week — largely due to the after-Memorial Day lull — contributing to lowering gas prices."Gas prices will likely keep up this slow sag now that we are past the Memorial Day travel weekend and more locations, east of the Rockies, will be s
  
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• Trump conviction will kick off 'war of weaponization' of US justice system, warns Alan Dershowitz

  31-05-2024 20:30 via foxbusiness.com
  
  Harvard Law professor emeritus Alan Dershowitz said Friday that a Manhattan jury "failed" after the conviction of former President Trump on 34 charges of falsifying business records."My big disappointment is with the jury. Juries are supposed to be a check and balance on the excesses of prosecutors and judges. This jury failed its role of checking and balancing these excesses," Dershowitz said Friday on "Mornings with Maria." A New York jury found former Trump guilty of 34 felony counts of
  
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• Costco gives update on $1.50 hot dog, soda combo staple

  31-05-2024 19:10 via foxbusiness.com
  
  Costco customers do not need to worry about the price of the wholesale club's popular $1.50 hot dog and drink deal going up anytime soon, the company's new finance chief assured investors this week.CFO Gary Millerchip addressed the budget-friendly combo's fate practically right out of the gate during his first quarterly earnings call on Thursday, after replacing recently retired Richard Galanti, who spent decades in the role."While I can't promise to be able to match the humor that Richard Galan
  
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• College graduation gift money: Experts reveal whether to spend it or save it, and why

  31-05-2024 19:08 via foxbusiness.com
  
  Millions of American young adults are graduating from college this season and beginning the next chapters of their lives.The ceremonial celebrations of graduations often come with receiving gifts of congratulations from family and friends. Many gifts are money.New grads may be tempted to spend their gift money — but is there a better strategy to invest or bank this money for future use? HATE JOB INTERVIEWS? NEW BOOK PROMISES LIGHTER, BRIGHTER CAREER PROCESS FOR ‘VERY BEST STUFF&
  
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• Billionaire CEO, real estate investor on impact of Trump verdict: 'Nobody wants to do business' in NYC

  31-05-2024 17:36 via foxbusiness.com
  
  Prominent business executives have warned that more New York enterprises and their leaders may fall victim to "no rule of law" in the wake of Donald Trump’s guilty verdict."If they can do this to a business person like Donald Trump, they could do it to anybody in New York and a lot of businesses. A lot of people are concerned that there is no rule of law," billionaire CEO John Catsimatidis said Friday on "Mornings with Maria.""If they can do this to Donald Trump, a former president, regard
  
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• Medline recalls 1.5M adult bed rails after 2 deaths

  31-05-2024 16:18 via foxbusiness.com
  
  More than 1 million adult bed rails are being recalled in the U.S. and Canada after two reported deaths associated with the product, safety regulators said. On Thursday, the Consumer Product Safety Commission (CPSC) and Medline Industries LP jointly announced that two models of Bed Assist Bar adult portable bed rails are being recalled because they pose a risk of entrapment and asphyxia. "When the recalled bed rails are attached to an adult’s bed, users can become entrapped withi
  
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• Canada's GDP grew less than expected. Will a rate cut follow?

  31-05-2024 15:48 via cbc.ca
  
  Statistics Canada says spending by Canadian households helped the economy grow at an annualized rate of 1.7 per cent in the first three months of the year.
  
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• Canada's GDP grew by 1.7% in 1st quarter

  31-05-2024 15:48 via cbc.ca
  
  Statistics Canada says spending by Canadian households helped the economy grow at an annualized rate of 1.7 per cent in the first three months of the year.
  
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• Business leaders speak out about Trump guilty verdict, with one immediately donating $300K

  31-05-2024 14:06 via foxbusiness.com
  
  Business leaders sounded off following former President Trump's conviction in his New York criminal trial.Billionaire Elon Musk and other mega-wealthy Americans threw their support behind Trump after the verdict came down on Thursday, with one donating $300,000 alone."I just donated $300k to Trump. I’m prepared to lose friends. Here’s why," Sequoia founder Shaun Maguire wrote in an extended post on X."Back in 2016 I had drunk the media Kool-Aid and was scared out of my mind about Tru
  
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• Model Karolina Kurková lists Fisher Island home for nearly $7M

  31-05-2024 14:00 via foxbusiness.com
  
  Karolína Kurková is ready to say goodbye to her private island home.The model and actress recently listed her home on Fisher Island, a private island off the coast of Florida, for $6.9 million. She first moved to the island 12 years ago with her husband, and two of her three children were born there. "Fisher allows me to recharge, while providing a level of freedom and independence to our boys," she told The New York Post in December 2017 about her decision to move there.Refer
  
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