Business news

• Cash App users could get payment due to $15M lawsuit settlement

  12-08-2024 23:03 via foxbusiness.com
  
  Some of Cash App’s users could have money coming their way in connection to a proposed settlement for a class action lawsuit filed against the company if they file a claim.Cash App and its corporate parent, Block Inc., will dole out up to $2,500 for out-of-pocket losses and give other reimbursement to eligible users under the terms of a proposed settlement it reached in the consolidated case Salinas, et al. v. Block, Inc. and Cash App Investing, LLC.The proposed settlement amounts to a tot
  
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• LL Flooring to close 94 stores as it files for bankruptcy

  12-08-2024 22:49 via foxbusiness.com
  
  Retailer LL Flooring is filing for bankruptcy and looking to close over 90 of its stores, according to a filing with the U.S. Securities and Exchange Commission (SEC). On Sunday, the company filed for relief under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. It aims to "pursue a going-concern sale of its business," the company said in a statement."After comprehensive efforts to enhance our liquidity position in a challenging macro environment, a determination was ma
  
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• Middle- and low-income Americans running out of disposable cash: SF Fed

  12-08-2024 22:01 via foxbusiness.com
  
  Middle- and lower-income Americans are running low on disposable cash and are on track to have less than they were on pace to have before the COVID pandemic disrupted the economy, a study by the Federal Reserve Bank of San Francisco found.Research published Monday by the San Francisco Fed found that while the top 20% of households by income saw their liquid assets – including cash and funds in savings, checking and money market accounts – rise sharply in 2020 and early 2021, they dro
  
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• This week's personal loan rates fall for 3-year terms, rise for 5-year terms

  12-08-2024 21:29 via foxbusiness.com
  
  Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year loans and higher for 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 August 1 and August 7: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 unexpect
  
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• Walz begins first solo campaign fundraising tour through 5 key states

  12-08-2024 20:56 via foxbusiness.com
  
  Kamala Harris’ vice-presidential running mate, Minnesota Gov. Tim Walz, will kick off his first solo campaign tour Tuesday before launching a "fundraising blitz" through five states this week.His first solo Harris-Walz campaign ticket event will take place on Tuesday. Walz will travel to Los Angeles, California, where he will deliver remarks at the American Federation of State, County and Municipal Employees (AFSCME) 2024 convention, according to the campaign.The event will start at 5 p.m.
  
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• Bank of America no longer predicting recession, CEO says

  12-08-2024 20:47 via foxbusiness.com
  
  Bank of America's economists no longer see the U.S. entering a recession, CEO Brian Moynihan said over the weekend."Bank of America Research does not have any recession predicted anymore," Moynihan told CBS’ "Face the Nation." The Bank of America boss said that at this time last year, the bank's team of analysts expected the economy to slide into a recession – generally defined as a decline in gross domestic product for two consecutive quarters – but now those concerns hav
  
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• Trump returns to X for first time since dropping infamous 2023 mugshot on Elon Musk's platform

  12-08-2024 20:09 via foxbusiness.com
  
  Republican presidential candidate and former President Trump returned to X on Monday for the first time since posting his infamous mugshot to Elon Musk’s platform in August 2023. Trump's account shared two campaign ads on the X Monday. The first ad, spanning 2 minutes and 30 seconds, narrates through newscaster audio Trump’s election victory in 2016, his inauguration speech in 2017 and the success of his presidency before fast forwarding to 2024 and the multiple indictments
  
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• Marriott sues franchisee for turning New York hotel into migrant shelter

  12-08-2024 19:57 via foxbusiness.com
  
  Marriott International is suing one of its franchisees for breach of contract, claiming the defendants violated their agreement with the hotel chain by turning a New York City property into a shelter for migrants.In a complaint filed in federal court last week, Marriott alleged Pride Hotel LLC, violated its franchisee agreement to run a property in the Jamaica neighborhood of Queens as a dual-branded Aloft and Element hotel, when the operators instead entered into a "lucrative" contract with the
  
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• FDA moves the needle, approves first nasal spray for treatment of severe allergic reactions

  12-08-2024 19:52 via foxbusiness.com
  
  Those suffering from anaphylaxis, a severe allergic reaction that could be life-threatening, now have another treatment option following U.S. Food and Drug Administration (FDA) approval.On Friday, the FDA announced the approval of neffy, an epinephrine nasal spray by ARS Pharmaceuticals, for emergency treatment of allergic reactions in adults and pediatric patients who weigh more than 66 pounds. The decision helps patients move away from the needle most commonly used in the brand-named auto-inje
  
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• Bank of America CEO reveals where US consumer money is going and the 'problem' with it

  12-08-2024 18:53 via foxbusiness.com
  
  With many economists and Americans recently confirming their feelings of recessionary pressures, the head of one of the country’s largest banks is giving his pulse on how people are spending their money and their impact on markets."The people who had an account with us in January 2020 before the pandemic, you look at them now, they're still sitting with much more, even inflation adjusted, much more in their account," Bank of America Chairman and CEO Brian Moynihan said on CBS’ "Face
  
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• Stuart Varney: Trump hasn't figured out how to beat Kamala Harris

  12-08-2024 18:35 via foxbusiness.com
  
  During his "My Take," Monday, "Varney & Co." host Stuart Varney reacted to Kamala Harris taking the lead over Donald Trump in 3 key states, arguing the former president is frustrated about Harris' growing popularity and for stealing his "no tax on tips" idea.STUART VARNEY: Kamala Harris is on a roll. This honeymoon has legs. A New York Times poll shows the vice president leads by 4 points in 3 key states, Michigan, Pennsylvania and Wisconsin.TRUMP, HARRIS IN DEAD HEAT IN POLL OF 7 CRITI
  
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• CBC paid out $18.4 million in bonuses in 2024 after it eliminated hundreds of jobs

  12-08-2024 18:26 via cbc.ca
  
  The Canadian Broadcasting Corp. paid out $18.4 million in bonuses this year after hundreds of jobs at the public broadcaster were eliminated.
  
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• Former RBC executive Nadine Ahn files $49M wrongful dismissal lawsuit against bank

  12-08-2024 18:20 via cbc.ca
  
  The former chief financial officer for Royal Bank of Canada is suing the bank for almost $50 million, claiming wrongful dismissal.
  
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• Chick-fil-A brings back long-awaited menu item and fan favorite: 'overwhelmingly positive feedback'

  12-08-2024 18:19 via foxbusiness.com
  
  Chick-fil-A announced Wednesday that it is bringing back a fan-favorite menu item after a 13-year hiatus.The banana pudding milkshake is making its way back to menus nationwide, "bringing back a cool twist on the classic dessert," the fast-food giant said in a press release. The shake is not the only menu item returning on Aug. 26. Along with it will be one of the "brand's best-selling seasonal offering of all time," the honey pepper pimento chicken sandwich, which will also now have a spic
  
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• Over 100 illnesses tied to mushroom-infused 'microdosing' chocolate bars

  12-08-2024 18:09 via foxbusiness.com
  
  The recalled Diamond Shruumz-branded "microdosing" candies have been tied to more than 100 illnesses, federal health officials said. As of Aug. 2, 113 illnesses across 28 states had been linked to the Shruumz-branded chocolate bars, cones or gummies, which were recalled earlier this summer, according to the Food and Drug Administration (FDA). Of the illnesses, there have been 42 hospitalizations and potentially two deaths, the FDA reported. That's up from the 39 illnesses, including 23
  
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• Ford unveils new Mustang, Bronco-inspired electric bikes

  12-08-2024 17:45 via foxbusiness.com
  
  Ford Motor Company has unveiled a new lineup of electric bikes, expanding two of its popular nameplates.The e-bikes are inspired by its Mustang cars and Bronco SUVs with distinct style and power.The Mustang e-bike starts at $4,000 while the Bronco-inspired version start at $4,500, according to a press release.FORD INVESTING $3B IN F-SERIES SUPER DUTY TRUCK EXPANSION TO MEET DEMAND"We know the passion and thrill that gets unlocked when people get behind the wheel of a Bronco and Mustang…Th
  
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• How extreme weather affects food prices in Canada

  12-08-2024 17:05 via cbc.ca
  
  Extreme weather events like fires, floods, heat waves and droughts pose an increasing risk to Canada’s food supply chain, putting pressure on prices all the way to the grocery store shelf, say experts.
  
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• Gym chain Blink Fitness files for bankruptcy

  12-08-2024 16:16 via foxbusiness.com
  
  Gym chain Blink Fitness announced Monday that it filed for Chapter 11 bankruptcy.The Chapter 11 filing is meant to help the Equinox Group-owned chain "execute an efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success," according to a news release.Blink said it will keep its gyms open in the meantime. It has more than 100 locations spread across seven states.CLICK HERE TO READ MORE ON FOX BUSINESS"Over the last several months, we have
  
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• Today's mortgage rates remain unchanged for 15- and 30-year terms | August 12, 2024

  12-08-2024 16:03 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 6.490% as of August 12, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.625%, which is also unchanged from Friday.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. Rates last updated on Au
  
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• McDonald's France tries to cope as Steph Curry breaks fans' hearts, threatens to remove sauce

  12-08-2024 15:11 via foxbusiness.com
  
  When Steph Curry finds his rhythm, sometimes all fans can do is sit back and watch in awe.Curry’s shooting display in the gold medal men’s basketball game at the Paris Olympics lifted the United States to another victory and sent France to another silver finish.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMMcDonald’s France had at least one idea to stick it to Curry – take a sauce off the shelf. The company jokingly threatened to take its sweet curry sauce off the
  
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• Turbulence is rising. Mandating a seatbelt might not be the answer, pilot says

  12-08-2024 14:17 via foxbusiness.com
  
  Turbulence has become more frequent. It's a trend American Airlines Capt. Dennis Tajer has experienced firsthand. For the safety of his passengers, Tajer, a pilot for over 30 years, said it's vital that they wear seat belts at all times while seated, even if it's not mandated by law. It is for their protection, and the safety of those around them, Tajer told FOX Business. According to a 2023 study by researchers at the University of Reading in the U.K., clear-air turbulence has increas
  
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• Booming solar industry has a growing appetite for weed-chomping crews

  12-08-2024 10:00 via cbc.ca
  
  The growing number of large-scale solar fields has created an increased need for animals to help control the weeds and other vegetation. Research is underway to explore what other types of animals could be used on solar sites.
  
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