Business news

• Chamber of Commerce wades into election season by spotlighting risk of 2025 tax hikes

  21-10-2024 22:27 via foxbusiness.com
  
  The U.S. Chamber of Commerce recently launched a seven-figure spending program in a variety of key swing states and battleground districts around the country that aims to educate voters about the election's implications for tax policy and where the candidates stand.Election Day is looming two weeks away and the Chamber's push looks to inform voters about how the outcome of various races around the country will impact tax policy in 2025. A variety of tax policies impacting households and bus
  
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• Social media giant parent fires intern for 'maliciously' interfering with AI project

  21-10-2024 22:21 via foxbusiness.com
  
  TikTok parent company ByteDance has confirmed it terminated an intern over the summer for allegedly sabotaging the training of an artificial intelligence model.The Beijing-based TikTok owner said in a social media post that it had fired an intern in August for "maliciously" interfering with the training of what it referred to as a research project, but said a report claiming that the intern's actions cost the company "'tens of millions of dollars' is seriously exaggerated," according to a transl
  
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• Replacing Canada's crumbling water, road infrastructure would cost more than $300B: Statistics Canada

  21-10-2024 21:45 via cbc.ca
  
  Statistics Canada estimates that it would take $356.7 billion to replace road or water systems considered to be in “poor” or “very poor” condition.
  
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• CBC president refuses to rule out accepting bonuses for two most recent fiscal years

  21-10-2024 21:29 via cbc.ca
  
  CBC president and CEO Catherine Tait today refused to rule out accepting her personal bonuses for the last two fiscal years if they're approved by the Privy Council Office.
  
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• Chick-fil-A launching family entertainment app with animated shows, podcasts, games

  21-10-2024 20:21 via foxbusiness.com
  
  Chick-fil-A is entering the family entertainment space with a new app containing animated shows, podcasts and games that it says are designed for parents and kids to "experience together whether they’re enjoying a meal at home, in the drive-thru, or anywhere in-between." The Chick-fil-A Play app, which is set to launch on Nov. 18, will be loaded with a "wide variety of content and original entertainment for all ages to enjoy," according to the fast-food chain."What we’ve seen ov
  
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• Why mortgage rates are going up despite the Fed's interest rate cut

  21-10-2024 19:52 via foxbusiness.com
  
  Americans saw mortgage rates soar during the Federal Reserve's aggressive campaign to fight inflation, leading many to hope for a reprieve after the central bank finally cut the federal funds rate last month for the first time in four years.But instead of declining, mortgage rates have marched higher for the past three weeks, with the benchmark 30-year fixed surging to 6.44% as of Freddie Mac's latest reading.Mortgage rates spiked in 2022 and 2023 as the Fed hiked interest rates. In the span of
  
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• Stuart Varney: Elon Musk puts the 'fear of God' in the deep state

  21-10-2024 19:08 via foxbusiness.com
  
  During his "My Take," Monday, "Varney & Co." host Stuart Varney discussed the impact Elon Musk is having on the election after the Tesla CEO announced his America PAC would award $1M every day to a voter who signs his petition supporting the First and Second Amendments.STUART VARNEY: There's one private citizen who is having an outsize impact on this election.Maybe it's inevitable, since Elon Musk has an outsized fortune and an outsized personality. He's all-in for Trump.ELON MUSK KICKS OFF
  
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• Disney names next chairman, new CEO to be announced in 'early 2026'

  21-10-2024 18:35 via foxbusiness.com
  
  The Walt Disney Company named Morgan Stanley veteran James P. Gorman as chairman of the board, effective Jan. 2, 2025, and said he is already part of the team "working to identify and prepare the next chief executive officer," with an announcement coming in "early 2026."Gorman will be stepping down from his role at Morgan Stanley on Dec. 31, 2024, according to a press release. He is currently chair of the Disney Board's Succession Planning Committee."James Gorman is an esteemed leader who has be
  
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• Buybuy Baby closing all stores, shifting to online-only business model as part of 'strategic reset'

  21-10-2024 18:27 via foxbusiness.com
  
  Buybuy Baby is shuttering all of its stores roughly a year after new owners tried to revive the brand. The company announced on its website that it is transitioning to an online-only model after recognizing the need for a "a strategic reset." "With this shift, we've come to the difficult decision of closing our physical stores by the end of this year," the company wrote. "We understand this may be disappointing news, and we want all our customers to know this wasn't a choice we took li
  
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• Minimum wage for higher-paid temporary foreign workers set to increase

  21-10-2024 18:00 via cbc.ca
  
  The federal government is expected to boost the minimum hourly wage that must be paid to temporary foreign workers in the high-wage stream as a way to encourage employers to hire more Canadian staff.
  
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• BlackRock cements firm's behemoth status

  21-10-2024 17:55 via foxbusiness.com
  
  BlackRock flexed its muscles this week, reminding investors why it is the world’s largest asset manager with a new record $11.5 trillion under management. It’s exchange-traded and mutual funds saw a record $221 billion of inflows in the third quarter across multiple products, active, index and regions. "In my conversations with clients and policymakers around the world, I hear how more and more countries recognize the power of American capital markets and would like to buil
  
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• Boeing proposal for workers could add more than $1 billion US in wages over 4 years

  21-10-2024 17:45 via cbc.ca
  
  Boeing has reached a tentative labour contract proposal that could see the company provide more than $1 billion US in wage increases for workers over four years, analysts say. 
  
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• Why some Americans will receive an extra Social Security check in November

  21-10-2024 17:40 via foxbusiness.com
  
  Some Americans will receive two Social Security payments in November due to a quirk in the system that results in a second monthly payment on rare occasions.Typically, the Social Security Administration (SSA) sends out one payment each week, delivering Social Security checks on the second, third and fourth Wednesdays of each month. Then it pays Supplemental Social Security Income (SSI) – which provides support for disabled people and older Americans with low incomes – on th
  
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• Trump secures major endorsement from Pennsylvania steelworkers: 'Saved all of our jobs'

  21-10-2024 16:56 via foxbusiness.com
  
  Pennsylvania steelworkers spoke out on their local union's decision to endorse Donald Trump for president, arguing the future of the steel industry hinges upon a possible Trump win. "Historically, we've all been Democrats," U.S. Steelworkers 1557 member Glenn Thomas told the "Fox & Friends" co-hosts. "A couple of us up here are third-generation steelworkers, and we had a trade case years ago that our ex-international president, Tom Conway, was fighting against the Chinese for illegal du
  
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• Major retailers, schools affected by BrucePac meat recall

  21-10-2024 16:02 via foxbusiness.com
  
  Several national grocers and hundreds of schools around the country received BrucePac's recalled ready-to-eat meat and poultry, according to federal regulators.BrucePac expanded its recall earlier this month to include nearly 12 million pounds of ready-to-eat meat and poultry that may be tainted with listeria. The original recall was initiated on Oct. 9 after the Food Safety and Inspection Service (FSIS), an agency of the Department of Agriculture, reported that the products tested positive
  
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• Utilities are having a renaissance moment

  21-10-2024 16:00 via foxbusiness.com
  
  Ho-Hum utility stocks have been anything but in the past few months and are enjoying one of the best years in recent memory with gains over 29% outpacing the S&P 500’s 23% rise. Kevin Mahn, president and chief investment officer of Hennion & Walsh Asset Management told FOX Business he sees more tailwinds for utilities, even with the advance. "They generally tend to provide high level of current income potential through dividends. And now that we're heading into a declinin
  
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• Frozen waffles recalled in Canada and U.S. due to possible Listeria contamination

  21-10-2024 15:57 via cbc.ca
  
  Hundreds of frozen waffle products sold in Canada and the U.S. are being recalled after possible contamination by the Listeria bacteria was detected at an Ontario facility, manufacturer TreeHouse Foods says.
  
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• Musk, putting up over $70M US to help Trump, raises legal questions with million-dollar giveaways

  21-10-2024 14:18 via cbc.ca
  
  Pennsylvania's Democratic Governor Josh Shapiro is among those calling for an investigation of billionaire Elon Musk, for his promise at a weekend pro-Trump rally to give away $1 million US each day until election day in the U.S.
  
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• North Carolina's Biltmore Estate announces reopening date after Helene

  21-10-2024 13:56 via foxbusiness.com
  
  The Biltmore Estate, a popular tourist attraction in Asheville, North Carolina, will reopen next month after the deadly Hurricane Helene devastated the area in September, staff announced Saturday.The historic 8,000-acre estate in the Blue Ridge Mountains sustained varying degrees of storm damage when Hurricane Helene ripped through western North Carolina on Sept. 28, bringing unprecedented flooding and destructive winds to the area."For more than 125 years, Biltmore has been a witness to the res
  
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• CVS workers strike at 7 California locations seeking better pay, health care

  21-10-2024 11:48 via foxbusiness.com
  
  Workers at seven CVS pharmacies in Southern California are now on strike, as they demand better pay and health care and to call out what they describe as the company engaging in bad-faith contract bargaining.The strike began Friday and continued through the weekend, affecting four stores in Los Angeles and three others in Orange County. Striking workers outside a Los Angeles location told customers on Saturday not to cross the picket lines, according to The Associated Press.Melissa Acosta, a pha
  
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• Rogers customers call contracts misleading as fee for TV boxes goes up $7/month

  21-10-2024 10:00 via cbc.ca
  
  Some TV customers are accusing Rogers Communications of a cash grab — a year after its controversial purchase of Shaw, which the Competition Bureau warned would lead to less competition and higher prices.
  
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• Pennsylvania gov calls Elon Musk’s million-dollar giveaway for signing pro-Trump petition ‘deeply concerning’

  21-10-2024 02:07 via foxbusiness.com
  
  Elon Musk’s pledge on Saturday that his pro-Trump America PAC would award $1 million every day to someone who signs his petition until Election Day drew legal scrutiny from Pennsylvania Gov. Josh Shapiro, who called the pledge "deeply disturbing." Shapiro made the comments during a Sunday morning appearance on NBC’s "Meet the Press," a day after Musk appeared at a pro-Trump rally in Harrisburg, Pennsylvania. Asked if he thought the giveaway was legal, Shapiro, a former atto
  
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