Business news

• LARRY KUDLOW: Tax cutters always win and tax hikers always lose

  25-07-2024 23:43 via foxbusiness.com
  
  Tax cutters always win. Tax hikers always lose, and that's the substance of the riff. The Wall Street Journal editorial today reads, "In her campaign debut, Kamala Harris steers left." Well, nobody should be shocked at this. She talked about student loan cancelations, new entitlements for health care, child care, seniors and more progressive culture war banning guns, overriding state abortion limits, of course, tax hikes, unsuccessful earners and businesses all.  Let's not forget the b
  
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• Security firm experiencing nightmare after learning remote employee is North Korean hacker

  25-07-2024 23:00 via foxbusiness.com
  
  A digital security firm got the shock of a lifetime when it came to light that one of its remote workers was actually a North Korean hacker after he infected his new company laptop with malware."The moment it was received, it immediately started to load malware," security firm KnowBe4 wrote in a blog post about the incident. The company stressed that "no illegal access was gained, and no data was lost, compromised or exfiltrated on any KnowBe4 systems.""KnowBe4 needed a software engineer for our
  
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• 2024 CPKC Women's Open: How much will the winner take home?

  25-07-2024 22:40 via foxbusiness.com
  
  The LPGA Tour is in Canada this week for the CPKC Women’s Open at Earl Grey Golf Club in Calgary. This tournament is Canada’s national championship, which was founded in 1973, and this year’s purse is higher. The total purse is $2.6 million, a slight increase from the $2.5 million the tournament distributed in 2023. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMLast year, Megan Khang walked away with the hardware and the biggest paycheck, which worked out
  
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• 2024 3M Open: How much does the winner take home?

  25-07-2024 22:33 via foxbusiness.com
  
  With the PGA Tour returning to the States after The Open Championship, there are only two more events left for golfers to secure their spots in the FedEx Cup Playoffs. This week, the 3M Open at TPC Twin Cities in Minnesota is the site of the PGA Tour, and there are not only playoff points to secure, but a hefty purse as well. With the tournament already kicking off on Thursday, let’s take a look at what the field is competing for in terms of dollar signs with a total purse of $8.
  
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• Former Solicitor General Paul Clement joins Coinbase board

  25-07-2024 22:10 via foxbusiness.com
  
  The meteoric rise of the $2 trillion crypto industry is becoming a magnet for seasoned legal minds.Paul Clement, the former solicitor general under the Bush administration and veteran Supreme Court attorney, is joining the board of directors at Coinbase, the U.S.’ largest cryptocurrency exchange, FOX Business has learned.Clement, who is known as one of the most formidable legal minds in the field, has a career that spans three decades with over 100 cases argued before the Supreme Court. Hi
  
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• Albertsons and Kroger agree to pause merger amid legal, regulatory challenges

  25-07-2024 21:46 via foxbusiness.com
  
  Kroger and Albertsons on Thursday agreed to temporarily pause their proposed $25 billion merger while regulators pursue legal challenges in an effort to block the deal.The two companies agreed to a temporary injunction that puts the merger on hold while a lawsuit filed by Colorado plays out. The move negates the need for a preliminary injunction hearing that had been scheduled to occur next month."The trial is set to begin on Sept. 30 and my office looks forward to making the case that this merg
  
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• Business leaders and billionaires endorsing Kamala Harris as Dem nominee

  25-07-2024 21:37 via foxbusiness.com
  
  Vice President Kamala Harris became the presumptive Democratic presidential nominee shortly after President Biden announced his withdrawal from the presidential race, and several prominent business leaders and billionaires have quickly moved to support her candidacy.Harris' ascent occurred after Democratic donors soured on Biden's campaign in the wake of his poor performance in the first presidential debate at a pivotal time in the race when campaigns are typically ramping up spending as Electio
  
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• Student loan debt has increased by 430% since 2003 – here’s how to lower your debt

  25-07-2024 20:05 via foxbusiness.com
  
  National debts have increased by a substantial amount in the last 20 years, but none by as much as student loans. Since 2003, student loan debt has increased by 430%, according to a study by the Kaplan Group. Although student loan debts have stabilized in the last few years, levels remain staggeringly high.Debt in general grew by 81.5% during the same time period. Student loans led the pack, followed by auto loans, which grew by 91% in 20 years. Mortgages followed close behind, rising by 80% sin
  
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• Chipotle CEO addresses burrito bowl portion sizes after backlash

  25-07-2024 19:25 via foxbusiness.com
  
  Chipotle CEO Brian Niccol announced this week that the company is ensuring portion sizes are generous and consistent across all stores after customers aired frustrations on social media accusing the fast-casual chain of using fewer ingredients in its popular burrito bowls."There was never a directive to provide less to our customers," Niccol told analysts Wednesday on the company's earnings call. The chief executive added that generous portions has always been a core brand equity of the fas
  
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• Redfin CEO says housing market is in a 'funk' as homebuyers weigh election uncertainty

  25-07-2024 18:42 via foxbusiness.com
  
  According to one housing expert, the U.S. real estate market could be headed for a troubling turn.Redfin CEO Glenn Kelman revealed what he believes to be the "real issue" that is paralyzing potential homebuyers during an appearance on "Cavuto: Coast to Coast.""Housing is just in a funk. Even though interest rates have dropped 20 to 30 basis points over the past few weeks, we've seen homebuyers still on the sidelines," Kelman explained Wednesday on "Cavuto: Coast to Coast."THE LEAST AFFORDABLE CI
  
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• Varney: Kamala Harris supporters organized the anti-Israel riot

  25-07-2024 18:22 via foxbusiness.com
  
  During his "My Take" on Thursday, "Varney & Co." host Stuart Varney condemned pro-Hamas agitators for burning the American flag and desecrating moments in Washington, D.C., in protest of Israeli Prime Minister Benjamin Netanyahu's congressional address.STUART VARNEY: Our flag was burned in the street last night, right outside Union Station in Washington, D.C.  Monuments were defaced. The police attacked.ANTI-ISRAEL AGITATORS BURN AMERICAN FLAG, ACCUSE NETANYAHU OF BEING 'WAR CRIMIN
  
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• Mortgage rates increase slightly

  25-07-2024 18:21 via foxbusiness.com
  
  Mortgage rates remained relatively unchanged from last week, with a slight movement higher. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage increased to 6.78% this week from 6.77% last week. The average rate on a 30-year loan was 6.81% a year ago."Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year," said Sam Khater,
  
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• Credit card delinquency rates hit worst level since 2012 in new Fed study

  25-07-2024 17:16 via foxbusiness.com
  
  A growing number of Americans are falling behind on their monthly credit card payments as they continue to battle high inflation and interest rates.New data published by the Federal Reserve Bank of Philadelphia shows that credit card delinquency rates in the first quarter of 2024 rose to the highest level since 2012, when the Fed began tracking the data. All stages of credit card delinquency — 30, 60 and 90 days past due — rose during the first three months of the year.The proportion
  
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• Without mentioning boycott, Loblaw execs suggest it was a factor in weaker food sales

  25-07-2024 14:59 via cbc.ca
  
  During the company's second quarter earnings call on Thursday morning, Loblaw executives fielded questions from analysts about the grocery giant's soft food retail sales — and whether a boycott organized online had impacted the company's profits at all.
  
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• Without ever saying 'boycott,' Loblaw execs indicate it was a factor in weaker food sales

  25-07-2024 14:59 via cbc.ca
  
  During the company's second quarter earnings call on Thursday morning, Loblaw executives fielded questions from analysts about the grocery giant's soft food retail sales — and whether a boycott organized online had impacted the company's profits at all.
  
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• Loblaw says Q2 net earnings fell by $51M due to charges from class-action settlements

  25-07-2024 14:59 via cbc.ca
  
  Canadian retailer Loblaw Cos. Ltd. missed analysts' expectations for second-quarter revenue on Thursday, hurt by soft demand for some household items and non-essential products such as apparel.
  
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• Loblaw CEO says 'one customer lost is one too many' after boycott question on earnings call

  25-07-2024 14:59 via cbc.ca
  
  During the company's second quarter earnings call on Thursday morning, Loblaw executives fielded questions from analysts about the grocery giant's soft food retail sales — and whether a boycott organized online had impacted the company's profits at all.
  
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• Loblaw, George Weston to pay $500M for bread price-fixing scheme in record antitrust settlement

  25-07-2024 13:37 via cbc.ca
  
  Loblaw Cos. Ltd. and its parent company George Weston Ltd. say they have agreed to pay $500 million to settle a class-action lawsuit regarding their involvement in a bread price-fixing scheme.
  
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