Business news

• Dow's record, Elon Musk helps Hurricane Helene victims, Spirit bankruptcy?

  05-10-2024 21:15 via foxbusiness.com
  
  -Stocks rallied for the week after a strong jobs report. Oil spiked amid fighting in the Middle East -The port strike was suspended, but details on the final contract remain unclear -Former President Trump sits down with FOX Business Network's Larry Kudlow -Elon Musk is feuding with FEMA and the FCC after he helps victims of Hurricane Helene while the government lags -Rebuilding North Carolina after Helene may take years -Spirit Airlines may be staring down Chapter 11, a
  
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• Biltmore Village near famous estate ravaged by Hurricane Helene: Before and after

  05-10-2024 19:33 via foxbusiness.com
  
  The area near the historic Biltmore Estate, in Asheville, North Carolina, was decimated by Hurricane Helene, closing the famous landmark until at least Oct. 15.The nearby Bilmore Village experienced significant flooding when the Swannanoa River and other waterways overflowed into the streets and businesses, though the estate itself is not reported to have experienced major damage."The entrance to Biltmore and other low-lying areas of the property, such as our farm, experienced flooding and damag
  
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• Oracle's Larry Ellison is getting richer, rivaling Musk, Bezos, Zuckerberg

  05-10-2024 15:32 via foxbusiness.com
  
  Oracle co-founder and CTO Larry Ellison’s net worth has been growing, placing him among the sky-high ranks of fellow billionaires Elon Musk, Jeff Bezos and Mark Zuckerberg.His estimated net worth stood at $208 billion as of Friday evening, according to Forbes.At that level of wealth, he was sandwiched between Musk, the richest with a net worth of $264 billion, and Mark Zuckerberg, the third-wealthiest at $206 billion, on the outlet’s real-time global wealth tracker.ORACLE'S LARRY ELL
  
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• How much do dockworkers make? Longshoreman's union scores pay boost for members under tentative deal

  05-10-2024 15:32 via foxbusiness.com
  
  The International Longshoreman's Association (ILA) strike that halted trade at East and Gulf Coast ports in the U.S. this week has been put on hold after the union agreed to a 62% raise for the 45,000 dockworkers under its tentative agreement with the U.S. Maritime Alliance (USMX), which represents the port employers.Under the previous contract that expired on Monday, ILA dockworkers' starting wage was at $20 per hour and topped out at $39 per hour (or more than $81,000 annually) for employees w
  
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• How long will it take the supply chain to normalize after dockworkers strike?

  05-10-2024 15:31 via foxbusiness.com
  
  Unionized dockworkers suspended their strike at East and Gulf Coast ports on Thursday night until mid-January, but it will take some time for impacted ports to return to their normal operations due to the backlog that accumulated during the strike.The International Longshoremen's Association (ILA) and its roughly 45,000 dockworkers were on strike for roughly three days before they reached a tentative deal with the U.S. Maritime Alliance (USMX), which represents port employers. The deal, which wi
  
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• Costco reveals Kirkland Signature item price cuts

  05-10-2024 14:54 via foxbusiness.com
  
  Costco revealed during a recent earnings call that it has slashed the prices of numerous popular Kirkland Signature items, welcome news for Americans affected by inflation since 2021. Chief Financial Officer Gary Millerchip said the price of KS Macadamia nuts has fallen from $18.99 to $13.99, Spanish Olive Oil 3-liter from $38.99 to $34.99, Standard Foil from $31.99 to $29.99, laundry packs from $19.99 to $18.99 and the Baguette 2-pack from $5.99 to $4.99.Millerchip said the price
  
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• Elon Musk slams FEMA over Helene response in North Carolina as SpaceX looks to set up new Starlinks

  05-10-2024 14:29 via foxbusiness.com
  
  Elon Musk on Friday slammed the Federal Emergency Management Agency (FEMA), claiming that it is blocking shipments of Starlink satellite internet deliveries in hurricane-ravaged North Carolina. "FEMA is not merely failing to adequately help people in trouble, but is actively blocking citizens who try to help!" the billionaire claimed on X. Musk said he had just received a note from a SpaceX engineer, Starlink’s parent company, in Asheville, North Carolina, who said the company ha
  
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• Heart lead singer Ann Wilson's Florida estate selling for $2M following cancer battle

  05-10-2024 14:00 via foxbusiness.com
  
  The lead singer of Heart, Ann Wilson, has placed her Florida estate on the market for $2 million.Set on 12.48 acres of land, the estate features both a 4,084 square-foot main house and a two-story guest house, both of which have panoramic views of the St. John's River.The sale comes three months after Wilson revealed her cancer diagnosis on social media, telling her fans she had started "a course of preventative chemotherapy" following doctor's recommendations. The diagnosis led to the postponem
  
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• Tech venture capitalist to donate to Harris after supporting Trump

  05-10-2024 13:29 via foxbusiness.com
  
  Billionaire venture capitalist investor Ben Horowitz has announced a change of heart and will make a "significant donation" to groups supporting Vice President Kamala Harris for president.The about-face, first reported by Axios, comes after Horowitz and his business partner Marc Andreessen made headlines in July with major donations to former President Donald Trump's campaign. President Biden was the presumptive Democratic nominee at the time.Horowitz, co-founder of the VC firm Andreessen Horowi
  
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• How power-hungry AI could help fuel growth in alternative energy

  05-10-2024 10:00 via cbc.ca
  
  Tech companies are spending big money on renewable and alternative sources of energy in an attempt to shore up enough power for energy-hungry data centres.
  
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• Trump says Harris' economic plans would put US in '1929-style depression'

  05-10-2024 01:10 via foxbusiness.com
  
  Former President Trump on Friday claimed that if Vice President Kamala Harris' economic proposals are implemented, they will plunge the U.S. into a downturn reminiscent of the Great Depression."She would be a disaster," the GOP presidential nominee said of Harris during an interview with FOX Business' "Kudlow" host Larry Kudlow. "If you followed her policy, you will end up in a 1929-style depression, 100% certain, and companies will flee, and jobs will flee, and everything's going to flee.""We'r
  
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• Donald Trump decries country being 'poisoned' by illegal immigration as Hurricane Helene victims suffer

  05-10-2024 00:57 via foxbusiness.com
  
  Former President Trump slammed the Biden administration's Hurricane Helene relief efforts, as DHS Secretary Alejandro Mayorkas warns that FEMA does not have enough funding for hurricane season while pushing back on claims that cash is being directed toward helping illegal migrants. "It's not understandable," Trump told "Kudlow" on Friday. "We now have no money that was supposed to be used for tragedy, for hurricanes, and this was a tragic hurricane. This was maybe the worst hurricane we've
  
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