Business news

• Elon Musk hails Trump's VP pick, JD Vance

  15-07-2024 23:35 via foxbusiness.com
  
  Billionaire entrepreneur Elon Musk celebrated former President Trump's decision to choose Ohio Sen. J.D. Vance as his running mate for the Republican Party's 2024 national ticket on Monday."Congratulations @JDVance1!," Musk posted on his social media platform, X, following the announcement that Vance would be the GOP's vice presidential nominee. "Excellent decision by @realDonaldTrump."Musk went on to say the Trump-Vance ticket "resounds with victory."Trump announced his selection of Vance on hi
  
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• Trump VP pick Sen JD Vance has a Netflix movie about his life

  15-07-2024 22:11 via foxbusiness.com
  
  Former President Trump announced on Monday that Sen. JD Vance, R-Ohio, will serve as his running mate and vice presidential nominee for the 2024 election."After much deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio," Trump announced in a post on Truth Social.Trump noted that Vance served in the Marine Corps and "
  
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• AutoNation says CDK outage will hurt its second-quarter bottom line

  15-07-2024 21:58 via foxbusiness.com
  
  AutoNation disclosed Monday its bottom line for the second quarter will show a negative impact from CDK Global’s recent widespread software outage.The vehicle retailer forecasted that the June outage to the auto dealer software provider’s systems will drag on its earnings to the tune of about $1.50 per share in the second quarter, poising it to report an estimated earnings per share (EPS) of $3.15 to $3.30, according to a filing AutoNation submitted Monday to the Securities and Excha
  
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• Apple hits all-time high as Morgan Stanley touts stock as 'top pick' for AI

  15-07-2024 21:40 via foxbusiness.com
  
  Apple shares rose to a record high during Monday's trading session after Morgan Stanley designated the stock as a "top pick" due to the company's artificial intelligence (AI) push to boost device sales.Last month, Apple unveiled Apple Intelligence as a way to encourage customers to upgrade their devices to the latest models that have the new built-in AI functionality. The move came as Apple was seen as lagging behind Alphabet's Google and Microsoft-backed OpenAI in the AI race.Apple shares reach
  
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• Fed's Powell says officials won't wait until inflation reaches 2% to cut rates

  15-07-2024 20:40 via foxbusiness.com
  
  Federal Reserve Chair Jerome Powell said Monday that policymakers will not wait until inflation falls to 2% in order to cut interest rates. "The implication of that is that if you wait until inflation gets all the way down to 2%, you’ve probably waited too long, because the tightening that you’re doing, or the level of tightness that you have, is still having effects which will probably drive inflation below 2%," Powell said at the Economic Club of Washington D.C.The Fed chief r
  
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• Amazon Prime Day spending expected to reach record $14B

  15-07-2024 20:32 via foxbusiness.com
  
  Shoppers are expected to spend a record $14 billion during this year's Prime Day, Amazon's two-day sales event.Adobe Analytics, which analyzes over 1 trillion commerce transactions online, projected that the first day of the event will drive $7.1 billion in online spending, up 11.3% year over year. The second day is expected to bring in $6.9 billion online, up 9.2% year over year.AMAZON LAUNCHING SHEIN, TEMU COMPETITOR WITH DIRECT SHIPPING FROM CHINABuy now, pay later (BNPL) services continue to
  
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• Corus Entertainment 'aggressively' cutting costs, laying off more employees as revenue slumps

  15-07-2024 20:20 via cbc.ca
  
  As revenue slumps from a "challenging advertising environment," Canadian media company Corus Entertainment Inc. — which houses brands like Global News and YTV — is "aggressively" cutting costs, continuing layoffs and shutting down parts of its business.
  
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• This week's personal loan rates fall for 3- and 5-year terms

  15-07-2024 20:13 via foxbusiness.com
  
  Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3- and 5-year loans when compared to fixed-rate loans for the seven days before.For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between July 8 and July 14:Personal loans have become a popular way to consolidate debt and pay off credit card debt and other loans. They can also be used to cover unexpected and emergency expense
  
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• 'Spy Kids' filmmaker's lakefront Texas home selling for $8.9M

  15-07-2024 20:12 via foxbusiness.com
  
  Robert Rodriguez has put his Texas home on the market.The filmmaker, known for his success with the "Spy Kids" franchise, has listed his home in Austin, Texas, for $8.9 million. Known as "The Bond House," the home was built in 1962 by architect O'Neil Ford and redesigned in 1999 to incorporate some modern luxury with historic charm.Situated on 3.9 acres of land located near Lake Travis, the 5,198 square foot home boasts four bedrooms and four and a half bathrooms. Since Rodriguez moved in, the h
  
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• Stuart Varney: Trump is unifying the Republican Party after taking a bullet

  15-07-2024 19:57 via foxbusiness.com
  
  During his "My Take," Monday, "Varney & Co." host Stuart Varney castigated Democrats and members of the media for encouraging Trump hatred after an assassination attempt on the former president at a campaign rally in Butler, Pennsylvania.STUART VARNEY: He was the victim of the Russia hoax. He was impeached. Then he was railroaded into court where he was fined hundreds of millions of dollars. He may be sentenced to prison.ELON MUSK SAYS HE ‘FULLY ENDORSES’ TRUMP AFTER GUNFFIR
  
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• GoFundMe 'authorized' by Trump for Butler, PA, victims exceeds $4m; Dana White donates $50k

  15-07-2024 19:42 via foxbusiness.com
  
  Former President Donald Trump's campaign launched a GoFundMe in support of the victims and their families of the Butler, Pennsylvania, rally shooting.During a campaign event in Butler, about 45 minutes outside of Pittsburgh, a gunman opened fire in an apparent assassination attempt on Trump's life. Several shots rang out, and Trump was shot in the ear. He was quickly covered by Secret Service agents before he was evacuated from the stage.The FBI identified the shooter as 20-year-old Thomas Matth
  
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• Fed's Powell condemns Trump assassination attempt: A 'sad day for our country'

  15-07-2024 19:18 via foxbusiness.com
  
  Federal Reserve Chair Jerome Powell on Monday condemned the attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend. Speaking at the Economic Club of Washington, D.C., Powell said the attack on Trump at a campaign rally in the Pittsburgh area represented a "very sad day for our country.""Political violence has no place in our society, and I condemn it in the strongest terms, as I know we all do," he said. "A man died at a political rally, two other
  
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• Macy's shares slide as retailer ends buyout talks with Arkhouse, Brigade

  15-07-2024 18:29 via foxbusiness.com
  
  Macy’s said on Monday that it will stop engaging in talks with Arkhouse Management and Brigade Capital Management about a potential buyout.The retailer said the latest proposal from the pair of investment firms "remains non-actionable and fails to provide compelling value" to Macy’s shareholders. It will instead continue pursuing its revitalization plan.Arkhouse and Brigade offered in late June to buy all outstanding Macy’s shares for $24.80 each. The two firms also provided Ma
  
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• Hamilton steelmaker Stelco sold to Cleveland-Cliffs for $3.4B

  15-07-2024 16:22 via cbc.ca
  
  Hamilton-based steelmaker Stelco Holdings Inc. is set to be acquired by Cleveland-Cliffs Inc. for $3.4 billion. The company said its headquarters will remain in Hamilton and the company will build on its existing 1,000-employee footprint in Canada.
  
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