Business news

• Walmart wins, Starbucks boots CEO and Trump and Harris duel on economy

  16-08-2024 23:35 via foxbusiness.com
  
  Stocks wrap up the best week of 2024 on inflation, Federal Reserve outlook Vice President Kamala Harris and former President Trump spar on the economy Elon Musk and former President Trump powwow Walmart lures savvy savers, stock hits all-time high Starbucks boots CEO, hires another fast-food top exec Corporate layoffs rising WINNING WEEK: U.S. stocks wrapped up the best week of the year more on the markets. A key report on consumer inflation helped ease investor ner
  
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• Trump and Harris support ending taxes on tips: What do experts think?

  16-08-2024 21:58 via foxbusiness.com
  
  Presidential campaigns have a way of causing candidates to make bold promises.In June, at a campaign stop in Nevada, former President Donald Trump said he wanted to end taxes on tips. Several days ago, Vice President Kamala Harris announced during a campaign speech (also in Nevada) that she wanted to do the same.It's noteworthy that both candidates proposed the same idea in Nevada. The state is home to Las Vegas, where a sizable number of people work in various service jobs at hotels and casinos
  
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• Vehicle owners slow to address recall alerts for potentially deadly issues

  16-08-2024 21:41 via foxbusiness.com
  
  Some vehicle owners are reluctant to act when recalls are issued despite regulators imploring them to immediately stop driving certain vehicles because of potentially deadly hazards.The National Highway Traffic Safety Administration (NHTSA) posted on its website that "millions of vehicle recalls go unrepaired or unaddressed every year" despite the significant number of recalls issued. Just last year, there were nearly 35 million vehicles recalled, according to the auto regulator's 2023 Annu
  
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• Trader Joe's recalls 653,000 mango tangerine scented candles

  16-08-2024 21:36 via foxbusiness.com
  
  A recall of approximately 653,000 Trader Joe’s mango tangerine scented candles is underway, according to the Consumer Product Safety Commission (CPSC).The recall, announced Thursday in a CSPC alert, was precipitated by a "fire hazard" that the limited-time seasonal 5.7-ounce candles may carry for Trader Joe’s customers. When lit, the candle flame "can spread from the wick to the wax, causing a larger than expected flame, posing a fire hazard," the grocery store chain said.Sales
  
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• Housing market changes are coming: How buyers, sellers could be affected

  16-08-2024 20:57 via foxbusiness.com
  
  Changes from a landmark settlement affecting broker commissions from America's largest real estate trade association take effect this weekend, potentially creating a more complex and uncertain buying process for consumers, according to industry experts.The changes made under the National Association of Realtors' (NAR) $418 million settlement, announced in March, "adds more uncertainty and unknowns to an already stressful and pressured industry," Phil Crescenzo Jr., vice president of Nation One M
  
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• Harris proposes $25,000 down payment assistance for first-time homebuyers — is it a good idea?

  16-08-2024 20:11 via foxbusiness.com
  
  Vice President Kamala Harris has rolled out a list of actions she would take to tackle the affordable housing crisis in the U.S. if she wins the presidency, including the expansion of President Biden's proposal earlier this year to provide $25,000 in down payment assistance to first-time homebuyers.While Biden's plan from May called on Congress to provide $25,000 for some 400,000 first-generation homebuyers, Harris wants to offer an average of $25,000 assistance to all first-time homebuyers in t
  
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• Tim Scott says Americans 'smarter than' Harris on economy amid release of controversial plan

  16-08-2024 20:03 via foxbusiness.com
  
  Sen. Tim Scott, R-S.C., shredded Vice President Kamala Harris' economic proposal on Friday, which laid out a sweeping overhaul including broad cross-industry price-fixing and $25,000 government-subsidized down payments for first-time home buyers. "The American people are smarter than Kamala Harris when it comes to the economy," the Senate Committee on Banking, Housing, and Urban Affairs Ranking Member told Fox News Digital in an interview. "The ‘price-gouging’ that they've
  
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• Incoming Starbucks CEO Brian Niccol poised to get sizable compensation

  16-08-2024 19:08 via foxbusiness.com
  
  Brian Niccol will receive a sizable pay package once he takes over as the CEO of Starbucks.Starbucks said Wednesday in a Securities and Exchange Commission (SEC) filing the company will pay Niccol $1.6 million a year as an initial base salary.The details of his package, which includes other compensation and has company performance requirements, came just a day after Starbucks revealed that Laxman Narasimhan was exiting and that the now-former Chipotle CEO would lead the coffee house chain starti
  
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• Biden asks Supreme Court to lift block on student loan repayment plan

  16-08-2024 17:45 via foxbusiness.com
  
  President Joe Biden's administration has asked the Supreme Court to lift a block on the Saving on a Valuable Education (SAVE) plan, which is designed to ease the burden of student loan debt for millions of borrowers.Biden introduced SAVE after the Supreme Court struck down Biden's student loan forgiveness plan. The White House said that the SAVE plan could lower borrowers' monthly payments to zero dollars, reduce monthly costs in half and save those who make payments at least $1,000 yearly. Addi
  
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• US single-family housing starts dented by Hurricane Beryl, higher mortgage rates

  16-08-2024 17:08 via foxbusiness.com
  
  U.S. single-family homebuilding dropped to near a 1-1/2-year low in July due in part to Hurricane Beryl's disruption of activity, but rising new housing supply could limit a rebound.The fifth straight monthly decline in homebuilding reported by the Commerce Department on Friday suggested the housing market remained depressed at the start of the third quarter. Aside from the weather, the housing market remains constrained by higher mortgage rates and house prices."Even though lower interest rates
  
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• Whole Foods is offering lower-cost 'surprise bags': How to get one

  16-08-2024 16:14 via foxbusiness.com
  
  Whole Foods is giving customers the chance to help reduce food waste by offering a "surprise bag" of surplus food items at a discounted price.The initiative includes "Prepared Foods Surprise Bags" filled with items like soup and ready-to-eat meals and "Bakery Surprise Bags" packed with baked goods, according to a news release.The Whole Foods "surprise bags" are sold through social impact company Too Good to Go’s app.The bags are a partnership to combat global food waste. Whole Foods is wor
  
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• Millennials are wealthier now than their parents were at same age in 'drastic' turnaround: report

  16-08-2024 12:30 via foxbusiness.com
  
  Millennials are better financially positioned now than they were in previous generations, according to a new report.The Wall Street Journal published an article Tuesday titled, "The Dramatic Turnaround in Millennials’ Finances," documenting the surprising change in fortune of a generation "once considered perpetually behind.""Millennials are now wealthier than previous generations were at their age. They can’t believe it either," the Journal writes. "The turnaround has been so dramat
  
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• Harris blames corporate greed for high prices, but some economists disagree

  16-08-2024 12:00 via foxbusiness.com
  
  Vice President Kamala Harris plans to unveil a first-ever federal price-fixing plan for corporations as part of a sweeping initiative intended to reduce grocery prices and other everyday expenses."There’s a big difference between fair pricing in competitive markets and excessive prices unrelated to the costs of doing business," the Harris campaign said in a statement. "Americans can see that difference in their grocery bills."The Democratic presidential nominee will detail the proposal fur
  
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• Grocery stores are moving to digital price tags: are they harming consumers?

  16-08-2024 12:00 via foxbusiness.com
  
  A pair of Democratic senators are probing grocery store chain Kroger over the use of digital price tags known as electronic shelving labels (ESLs) citing concerns it could enable "dynamic price gouging."Sens. Bob Casey, D-Pa., and Elizabeth Warren, D-Mass., wrote a letter to Kroger CEO Rodney McMullen seeking "further information to better understand the justification for and risks of electronic shelving." They warned that, "Dynamic pricing allows corporations to price gouge and suddenly raise t
  
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• Will the Trump v. Harris race impact the housing market?

  16-08-2024 11:50 via foxbusiness.com
  
  There's no doubt that the President of the United States can wield tremendous influence on economic policies through their agenda, but will the residential real estate market be moved over who wins the White House? Not this year, according to the analysts at Realtor.com.In an update to its 2024 forecast this week, the online real estate site said in a note that while the race between former President Trump and Vice President Kamala Harris is a "wildcard," the company does not anticipate any sign
  
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• Patreon creators feel pressure to raise prices after Apple demands 30% share

  16-08-2024 10:00 via cbc.ca
  
  Apple is forcing content subscription service Patreon to send the tech giant 30 per cent of most payments on its iOS app. Patreon and says it can't do much to work around it, which could lead creators to raise their prices to avoid losing money to Apple.
  
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• Apple looks for more money by changing the math on Patreon

  16-08-2024 10:00 via cbc.ca
  
  Apple is forcing content subscription service Patreon to send the tech giant 30 per cent of most payments on its iOS app. Patreon and says it can't do much to work around it, which could lead creators to raise their prices to avoid losing money to Apple.
  
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• Cucumbers linked to salmonella outbreak in 31 states

  16-08-2024 05:46 via foxbusiness.com
  
  Cucumbers in 31 states and the District of Columbia are being recalled after hundreds of people have reported illnesses linked to salmonella. In an update, the Centers for Disease Control and Prevention (CDC) announced Salmonella Africana and Salmonella Braenderup infections, which were originally reported as two separate outbreaks.The agency identified that 449 people were ill after eating salmonella-laden cucumbers and 125 people were hospitalized.No one has died from salmonella linked to
  
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• 'Crypto For Harris’ town hall fails to sell industry on proposed 'reset'

  16-08-2024 03:55 via foxbusiness.com
  
  If the goal of Wednesday evening’s effort by the ‘Crypto For Harris’ campaign was to convince a skeptical digital asset industry that a Kamala Harris presidency is something it should support, it did little to move the needle.That’s my read after listening to scores of crypto enthusiasts who tuned into the nearly 90-minute virtual town hall that featured a who’s who of Democratic lawmakers including the party’s head honcho, Senate Majority Leader Chuck Schumer
  
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• Plastic manufacturers push back after Biden administration agrees to support global goal to cap production

  16-08-2024 03:26 via foxbusiness.com
  
  An industry organization is pushing back after the U.S. reportedly announced that it will support a global treaty calling for a reduction in how much new plastic is produced.In a statement, Matt Seaholm, the president and CEO of the Plastics Industry Association, said the Biden-Harris administration's decision "turned its back" on residents whose livelihoods depend on the industry."The plastic industry is the seventh-largest manufacturing industry in the United States and employs 1 million peopl
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $35,137,624,661,984.40 as of 8/15/24

  16-08-2024 02:01 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 — fell to $35,137,624,661,984.40 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $22.7 billion from the figure reported the previous day.By comparison, just four decades ago, the national deb
  
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• LARRY KUDLOW: Trump is dedicating himself to ending the Biden-Harris affordability crisis

  16-08-2024 00:25 via foxbusiness.com
  
  After taking a few wrong exits off the I-95 on the way to the White House, in recent days, Donald Trump is totally back on message. Hat-tip to Michael McKenna, writing in the Washington Times that Mr. Trump gave a strong, policy-oriented interview with Breitbart, then posting on X a solid critique of the economy and immigration, then his conversation with Elon Musk.And yesterday, his "intellectual speech" on the economy in Asheville, N.C. — all of it good. As an aside, Mr. Trump is wh
  
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• VP Harris' economic agenda to focus on grocery costs, child tax credit: report

  16-08-2024 00:14 via foxbusiness.com
  
  Vice President Kamala Harris is set to roll out key components of her economic agenda as the Democrat presidential nominee in a speech in North Carolina on Friday, which is expected to emphasize plans to lower the prices of groceries, housing and health care, her advisers told Reuters.Harris' speech is expected to tout plans to lower costs and combat alleged price gouging by companies with possible price controls in an effort to show her campaign's efforts to address voters' concerns about high
  
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