Business news

• Musk and Ramaswamy lay out DOGE vision in WSJ op-ed: 5 takeaways

  20-11-2024 23:50 via foxbusiness.com
  
  It's only been about a week since President-elect Trump officially tapped Elon Musk and Vivek Ramaswamy to lead a Department of Government Efficiency (DOGE) to trim the bloat from the federal government when he returns to the White House, and the entrepreneurs are wasting no time determining how to make deep cuts.Musk and Ramaswamy penned an op-ed published in The Wall Street Journal on Wednesday, laying out their vision for DOGE. Here are five takeaways from the piece about how the agency will
  
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• LARRY KUDLOW: Donald Trump is going to close the border and deport criminals

  20-11-2024 23:38 via foxbusiness.com
  
  No matter what liberals say, Donald Trump is going to close the border and deport criminals and that's the subject of the riff. All eyes are back on the immigration issue as the Venezuelan gangster who tragically killed Laken Riley was sentenced to life without parole — for his vicious murder of the young nursing student. This illegal migrant murderer was caught crossing the border in 2022 and was quickly paroled and released into America.  A year later he was arrested
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $35,992,291,043,718.85 as of 11/20/24

  20-11-2024 23:31 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 — rose to $35,992,291,043,718.85 as of November 20th, according to the latest numbers published by the Treasury Department. That is up about $28.3 billion from the figure reported the previous day.By comparison, just four decades ago, the national debt hover
  
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• Trump eyes official crypto lead or czar

  20-11-2024 23:17 via foxbusiness.com
  
  In what would be the first role of its kind, President-elect Trump is mulling a position dedicated solely to cryptocurrency policy, FOX Business has learned. It’s unclear if the role would be a czar type or a White House staff role, but the individual would have the president’s ear, according to industry sources familiar with the discussions. The official holding the position would interact with regulators, including the Securities and Exchange Commission and the Commodity
  
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• Former FTX executive Gary Wang spared prison time for role in crypto fraud

  20-11-2024 23:02 via foxbusiness.com
  
  A former top FTX executive charged with writing computer code for now imprisoned FTX founder and CEO Sam Bankman-Fried to help steal billions of dollars from cryptocurrency customers, was spared prison time by a Manhattan judge on Wednesday.U.S. District Judge Lewis Kaplan said during a hearing in federal court in Manhattan that he would not be imposing prison time on former FTX Chief Technology Officer Gary Wang.Instead, Kaplan praised Wang’s cooperation with U.S. prosecutors, noting that
  
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• Lifelong Jaguar customer troubled by 'baffling' 'woke' rebrand: 'Going in a very sad direction'

  20-11-2024 22:59 via foxbusiness.com
  
  Jaguar is facing backlash after announcing a rebrand of its luxury car company on Tuesday, with a longtime customer worrying the brand is headed in a "sad" and "troubling" direction.The British car brand turned heads on Tuesday with its release of a new ad, which featured a reimagined logo under the slogan "Copy Nothing."The ad featured androgynous models in brightly colored, over-the-top outfits, including one man wearing a dress, along with other slogans such as "create exuberant," "live vivid
  
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• Lauren Sanchez is tight-lipped about wedding plans with Jeff Bezos

  20-11-2024 22:38 via foxbusiness.com
  
  Lauren Sanchez kept it brief when responding to questions about her wedding planning with Amazon founder Jeff Bezos during an interview on the "Today" show.Sanchez, an Emmy-winning journalist and vice chair of the Bezos Earth Fund, appeared on the program to promote the recent $110 million donation she and her fiancé made to combat homelessness.Sanchez told the "Today" hosts that despite her busy schedule, she is in the midst of planning her wedding. JEFF BEZOS, LAUREN SANCHEZ GET AN
  
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• Tom's of Maine toothpaste tainted with bacteria, says U.S. Food and Drug Administration

  20-11-2024 22:11 via cbc.ca
  
  A recent inspection of a Tom's of Maine facility found that the company's toothpaste was made using bacteria-tainted water, among other health violations, according to the U.S. Food and Drug Administration.
  
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• Trump unveils limited edition 'American Eagle' acoustic and electric guitars

  20-11-2024 21:55 via foxbusiness.com
  
  President-elect Trump on Wednesday announced the sale of a limited number of "45" guitars on his social media site."Coming Soon! The Limited Edition ‘45’ Guitar. Only 1,300 of each Acoustic and Electric Guitars MADE — Some personally signed!" Trump wrote on Truth Social. The "American Eagle" series of guitars features the "Make America Great Again" phrase inlaid in "authentic pearl" on the neck of the guitar and the number "45" on the headstock, referring to his time as th
  
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• Top 2024 ETFs tied to one stock: Nvidia

  20-11-2024 20:45 via foxbusiness.com
  
  The best three performing exchange-traded funds of 2024 have one thing in common: each is linked to AI super-stock Nvidia. T-Rex 2X Long NVIDIA Daily Target ETF and GraniteShares 2x Long NVDA Daily ETF have advanced more than 400% each, while Direxion Daily NVDA Bull 2X Shares is up over 350%, according to VettaFi."NVDX, NVDL, and NVDU are 2x leveraged long bets on Nvidia which are typically used to capture short-term returns. Investors can double their gains (or losses) on Nvidia's da
  
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• Elon Musk shares Milton Freidman's loathing of government bloat

  20-11-2024 18:56 via foxbusiness.com
  
  Elon Musk and fellow billionaire Vivek Ramaswamy are already looking at what parts of the government could be slashed as they team up to lead President-elect Trump's Department of Government Efficiency (DOGE). The Tesla CEO on Wednesday pointed to famed economist Milton Friedman's opinion from decades ago about how bloated the government had become."Milton Friedman was the best," Musk wrote in a post on X, sharing an interview the late Nobel laureate gave, wherein he went through a list of entir
  
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• Trump Treasury contender Warsh no fan of DEI policies

  20-11-2024 18:29 via foxbusiness.com
  
  One of the leading contenders to serve as President-elect Trump's Treasury secretary said that diversity, equity and inclusion (DEI) and similar policies are a distraction for the Federal Reserve from its primary mission — promoting maximum employment and price stability.Kevin Warsh, a former member of the Federal Reserve's Board of Governors, was asked in a recent interview on FOX Business Network's "Kudlow" about whether efforts by the White House and Senate Democrats to influence t
  
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• Varney: Trump hasn't forgotten how the 'deep state' treated him

  20-11-2024 18:05 via foxbusiness.com
  
  During his "My Take" on Wednesday, "Varney & Co." host Stuart Varney explained how President-elect Trump's Cabinet picks are reflective of his mistrust in the government, arguing Trump has not forgiven or forgotten how the "deep state" treated him during his first term.STUART VARNEY: This is definitely not a normal transition from one administration to another, anything but.President-elect Trump has a deep distrust of the federal government. He remembers how he was treated last time around.&
  
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• Tom's of Maine toothpaste made with bacteria-contaminated water, FDA says

  20-11-2024 17:44 via foxbusiness.com
  
  Federal officials discovered "significant violations" at Tom's of Maine's manufacturing facility, including using water contaminated with bacteria to produce some of its toothpaste. The Food and Drug Administration (FDA) outlined such violations in a letter sent to Tom's of Maine's parent company, Colgate-Palmolive, earlier this month. The letter was made publicly available on Tuesday. FOX Business reached out to Colgate-Palmolive for comment. According to federal health officials
  
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• Boeing to lay off 2,200 Washington workers in coming months

  20-11-2024 17:32 via foxbusiness.com
  
  Boeing is set to lay off 2,199 workers in the state of Washington in the coming months, with some losing their jobs just days before Christmas.The aviation company notified the state of Washington of the cuts, according to FOX 13 Seattle. Another 220 people will lose their jobs in South Carolina, Reuters reported. The two states are where Boeing builds commercial airliners.The layoffs are part of the debt-heavy U.S. planemaker's plan to cut 17,000 jobs, or 10% of its global workforce, according
  
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• California taxpayers paying nearly $20M for wireless electric charging project at UCLA

  20-11-2024 17:16 via foxbusiness.com
  
  Wireless electric vehicle (EV) charging is coming to a Southern California university's streets with a hefty price tag that taxpayers are footing much of the bill for.The University of California, Los Angeles (UCLA) is partnering with CALSTART and Electreon Wireless, Inc. to implement the charging infrastructure part of the "UCLA/Westwood Zero Emission Transit Service Expansion: Deploying Wireless Charging at Scale" project, according to documentation from the California State Transportation Age
  
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• Goldman Sachs takes page from Trump's 'Art of the Deal' for stock tips in 2025

  20-11-2024 17:08 via foxbusiness.com
  
  Leading investment group Goldman Sachs is taking a page from President-elect Trump’s first and best-selling book. In a new report out Monday titled "2025 U.S. Equity Outlook: The Art of the Deal," the Goldman authors reference the 1987 book by Trump as a "roadmap" for 2025 strategy recommendations."‘The Art of the Deal’ offered readers advice on how to conduct a business negotiation and achieve success as an investor," Goldman Sachs Research’s David J. Kostin wrote.
  
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• Competition Bureau launches investigation into furniture retailers Leon's, The Brick

  20-11-2024 17:00 via cbc.ca
  
  The Competition Bureau says it has advanced an investigation into furniture retailer Leon's and its subsidiary The Brick over deceptive marketing practices.
  
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• Target shares plunge after lackluster sales ahead of holiday season

  20-11-2024 16:01 via foxbusiness.com
  
  Target shares tumbled on Wednesday after the retailer severely missed Wall Street's quarterly earnings estimates and cut its full-year profit guidance. The retailer's stock fell 19% during morning trading after it said it's taking a more cautious stance for the most critical quarter in the retail industry after seeing weakness in certain discretionary categories, despite slashing prices on 2,000 items this holiday season to drive traffic. Shares are on pace for the worst day since May 2022,
  
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• Comcast announces spin-off of NBCUniversal cable networks, including MSNBC

  20-11-2024 14:50 via foxbusiness.com
  
  Comcast officially announced Wednesday it would create a spin-off of several NBC networks, including left-leaning cable affiliate MSNBC, through a new company called "SpinCo.""Comcast Corporation (NASDAQ: CMCSA) today announced its intent to create a new publicly traded company comprised of a strong portfolio of NBCUniversal’s cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel along with complementary digital assets including Fandango
  
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• Kristen Louelle Gaffney, SI model and 'MAHA' mom, launches kids soft snack brand as healthy alternative

  20-11-2024 13:17 via foxbusiness.com
  
  Amid the rush of support and ridicule for the health and political movement "Make America Healthy Again" led by Robert F. Kennedy Jr. to combat chronic disease as part of President-elect Donald Trump’s Cabinet, one "MAHA" mom is taking a step forward and launching her own line of nourishing kids snacks.Sports Illustrated model Kristen Louelle Gaffney has been a champion of good health for years, but more specifically since the global outbreak of COVID-19 and during her third pregnancy when
  
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• Texas lawmaker says Trump will have full 'support' on mass deportations

  20-11-2024 12:00 via foxbusiness.com
  
  President-elect Trump will have the full support to deport undocumented migrants, despite resistance from Democratic governors, according to one Texas lawmaker."America spoke and Trump is going to get support from everybody to do what we need to do, especially down in Texas… It's going to turn our country around, make it safer," Rep. Roger Williams, R-Texas, said Tuesday on "Mornings with Maria.""We got to get back to being a land of law where people understand that. And that's going to b
  
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• Peter Thiel says Trump, Vance are right that immigration drives up housing costs

  20-11-2024 12:00 via foxbusiness.com
  
  Billionaire entrepreneur Peter Thiel says President-elect Trump and Vice President-elect JD Vance were not wrong when they pointed to immigration as a driver of high housing costs on the campaign trail, suggesting the concept is basic economics.During a recent interview on Bari Weiss' "Honestly" podcast, Thiel noted that he is an immigrant to the U.S. himself, but said that "at the same time, I think one should somehow be able to talk about all the ways that it creates these incredible economic
  
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• Blackstone is buying Jersey Mike's; it also has a stake in these big brands

  20-11-2024 12:00 via foxbusiness.com
  
  Blackstone is poised to become the majority owner of Jersey Mike’s through an acquisition that the investment firm announced on Tuesday.The investment firm, run by CEO Stephen Schwarzman, will hold a majority ownership stake in Jersey Mike’s through its "most recent flagship private equity vehicle and other funds it manages upon the expected completion of the purchase of the sandwich chain early next year, Blackstone said.BLACKSTONE BUYS JERSEY MIKE'S SANDWICH CHAINWhile the popular
  
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• Alleged 'potato cartel' accused of conspiring to raise price of frozen fries, tater tots across U.S.

  20-11-2024 10:00 via cbc.ca
  
  Two proposed class actions filed this week in U.S. District Court claim that four leading potato companies — including two Canadian ones — have privately swapped intel to inflate the price of frozen potato goods like fries, hash browns and tater tots over the last several years.
  
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• Rogers Sports & Media lays off dozens of workers in audio business

  20-11-2024 04:12 via cbc.ca
  
  Rogers Sports & Media says it has laid off a few dozen employees in its audio business due to uncertainty in the advertising market.
  
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• Service Canada holding 85,000 passports as Canada Post strike continues

  20-11-2024 01:26 via cbc.ca
  
  Service Canada has been holding off on mailing out 85,000 passports due to the labour dispute at Canada Post.
  
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