Business news

• BMW North America CEO touts ‘long game’ in US as $1.7B South Carolina EV expansion takes shape

  05-07-2026 23:01
  
  BMW is "here for the long game" in the U.S. as it completes a $1.7 billion South Carolina investment and prepares to build fully electric vehicles at its largest plant, its North America CEO told FOX Business.Sebastian Mackensen, president and CEO of BMW of North America, said the investment marks a major milestone in the automaker’s U.S. manufacturing strategy and proves BMW is doing more than making promises."One thing is to announce an investment and another one is to actually do the in
  
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• Biden-era illegal immigration drove up housing costs, Fed economists find

  05-07-2026 19:45
  
  A new Federal Reserve working paper found the record surge in illegal immigration during the Biden administration triggered higher home prices and rents.The findings arrive as immigration remains a polarizing political issue. Republicans argue former President Joe Biden's border policies strained housing and public resources, while Democrats say immigration helped ease labor shortages and supported economic growth.THE KEY STRATEGY RED STATES ARE USING TO LOWER HOUSING COSTS REVEALEDThe paper, pu
  
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• Oil prices hover near pre-conflict levels as OPEC+ boosts output again

  05-07-2026 18:01
  
  Oil prices hovered near pre-conflict levels Sunday after OPEC+ agreed to increase production again, adding to global crude supplies as exports through the Strait of Hormuz continued to recover following months of disruption.The oil-producing alliance said it will raise output targets by 188,000 barrels per day beginning in August, marking its third consecutive monthly increase as it gradually unwinds production cuts implemented in 2023.The decision reflects easing concerns about a lingering glob
  
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