Business news

• Dow hits 40,000 for first time

  16-05-2024 23:05 via Latest Business News on Fox Business
  
  The Dow Jones Industrial Average crossed 40,000 for the first time ever before closing just shy of that level as investors celebrate solid earnings and a slight easing of consumer inflation last month. It will mark the third 1,000 point milestone of 2024.The Dow has gained about 6% this year and a strong quarter from the nation's largest retailer, Walmart, helped propel gains on Thursday. It closed above 30,000 on Nov. 24, 2020. Investors are also betting inflation may cool enough for the Federa
  
  Read more

• Honda recalls more than 635,000 vehicles over steering defect that increases crash risk

  11-11-2026 02:41 via Latest Business News on Fox Business
  
  Honda is recalling more than 635,000 vehicles in the U.S. because of a software defect that could cause drivers to lose power steering assistance, increasing the risk of a crash.The recall affects 635,808 Honda and Acura vehicles, including certain Honda Pilot SUVs and Acura MDX and TLX models, according to a report filed with the National Highway Traffic Safety Administration (NHTSA).Honda reported one injury and 146 warranty claims related to the issue as of Oct. 22. The automaker said it had
  
  Read more

• Gas prices fall below $4 a gallon for first time since July

  10-11-2026 23:12 via Latest Business News on Fox Business
  
  Gasoline prices fell to their lowest level since July on Tuesday, with the national average price slipping below $4 a gallon for the first time in months.Data from AAA showed that the national average price dropped about 3 cents per gallon from Monday's report, with the average slipping to $3.97 a gallon on Tuesday.Gas prices have fallen about 17 cents per gallon over the last week, and roughly 39 cents from a month ago, according to AAA's data.CONSUMER INFLATION RISES FASTER THAN EXPECTED IN OC
  
  Read more

• Short seller flagged Jensen Huang’s 'uncomfortably close' ties to alleged Chinese spy months ago

  10-11-2026 21:41 via Latest Business News on Fox Business
  
  Months before reports of the affair between Nvidia CEO Jensen Huang and alleged Chinese spy Alice Huang surfaced, a short seller noted the "uncomfortably close relationship" between the two.A report titled "NVIDIA (NVDA): The China Problem" was published by Culper Research in May 2026, and although it didn't directly suggest an affair between the two, it noted the close ties between them. The report also alleged that Megaspeed, the Singapore-based chip buyer Alice Huang worked for, was financed
  
  Read more

• Advertisement

• Housing expert blasts 'absurd' California red tape keeping affordable homes out of reach

  10-11-2026 20:44 via Latest Business News on Fox Business
  
  California’s push to make housing more affordable is facing a familiar obstacle: getting new homes built, even as state laws seek to encourage development.Macro Trends Advisors founding partner Mitch Roschelle told FOX Business’ Stuart Varney on "Varney & Co." about the bureaucratic hurdles facing California builders and how the state’s approach compares with Florida's.Roschelle said he had invested in a company working to build affordable housing in Los Angeles. The project sought to
  
  Read more

• Amazon's Ring launches flying security drones, patrol robots to guard homes, businesses

  10-11-2026 19:41 via Latest Business News on Fox Business
  
  Amazon introduced an indoor security drone made by Ring, offering a flying camera to monitor areas stationary devices cannot reach, the company announced Tuesday.The company also unveiled the Ring Rover Cam, an autonomous security robot for businesses that patrols, investigates disturbances, and streams up to 4K video. Both devices are powered by AI Pilot, a custom system that maps spaces, suggests patrol points and navigates around obstacles."For years, customers told us they wanted eyes in the
  
  Read more

• Stellantis auto plant closure in Brampton a 'betrayal' to all Canadians, Carney says

  10-11-2026 18:02 via CBC | Business News
  
  Prime Minister Mark Carney said automaker Stellantis shuttering its plant in Brampton, Ont., is "unacceptable" and a betrayal to the country and all Canadians.
  
  Read more

• Poilievre demands Carney fire his industry minister over Brampton, Ont., auto plant closure

  10-11-2026 18:02 via CBC | Business News
  
  Conservative Leader Pierre Poilievre says he wants Industry Minister Mélanie Joly sacked for failing to prevent a series of layoffs at auto and steel manufacturers across Ontario.
  
  Read more

• Advertisement

• Trump admin pouring $480M loan into Gulf of America oil and gas project

  10-11-2026 16:00 via Latest Business News on Fox Business
  
  The Energy Department is touting a $480 million loan meant to help boost oil and natural gas production in the Gulf of America."The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) today announced the financial close of a $480 million loan for Arena Energy’s Project Elkhorn to increase oil and natural gas production across the Gulf of America shelf," the department noted in a press release obtained by Fox News."The project will modernize 22 offshore p
  
  Read more

• Nvidia and CEO Jensen Huang face lawsuit over handling of ties to alleged Chinese spy

  10-11-2026 15:51 via CBC | Business News
  
  The lawsuit filed in San Jose, Calif., on Monday accuses the CEO and his company of misleading shareholders by concealing the relationship with a woman accused of feeding information to Bejing, and not disclosing that the matter raised national security concerns ‌that threatened Nvidia's reputation and business prospects.
  
  Read more

• Anthropic targets valuation around $1T in blockbuster AI IPO, below initial expectation

  10-11-2026 15:24 via Latest Business News on Fox Business
  
  Anthropic, the artificial intelligence company behind the Claude chatbot, is seeking a valuation of up to $1.02 trillion in a blockbuster initial public offering, falling short of earlier expectations as Wall Street grows increasingly cautious about the enormous costs fueling the AI boom.The San Francisco-based company plans to raise as much as $64.4 billion through the sale of 825 million shares priced between $70 and $78 apiece, according to an amended Securities and Exchange Commission filing
  
  Read more

• Anthropic eyes $1 trillion US valuation in hotly anticipated IPO that's a key test for AI market

  10-11-2026 15:20 via CBC | Business News
  
  Anthropic's initial public offeringplans to raise as much as $64.4 billion US, a regulatory filing showed on Tuesday, testing Wall Street's faith in the AI boom amid growing worries about its risks.
  
  Read more

• Adobe, Google broaden AI partnership across creative and workplace apps

  10-11-2026 14:56 via Latest Business News on Fox Business
  
  Adobe and Google are announcing an AI-focused strategic partnership on Tuesday that will deepen the integration of the two companies' products.The two companies plan to bring Adobe tools into more Google apps and also incorporate Google DeepMind's AI models into more Adobe apps. For example, Acrobat will be available in Google Drive and Gmail, while Google's latest imaging tools will be in Photoshop, Premiere and Firefly. The announcement comes as part of Adobe MAX, the world's largest creativit
  
  Read more

• Consumer inflation rises faster than expected in October, CPI report shows

  10-11-2026 14:36 via Latest Business News on Fox Business
  
  Inflation accelerated in October as the pace of consumer price growth trended higher.The Bureau of Labor Statistics (BLS) said on Wednesday that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – increased 0.4% on a monthly basis. It did not release an annual figure due to last year's government shutdown that prevented collection of October 2025 data.The monthly figure was slightly higher than the estimates of economists pol
  
  Read more

• California wealth tax on billionaires fails despite blue wave, in blow to progressives

  10-11-2026 14:29 via Latest Business News on Fox Business
  
  California voters rejected Proposition 40, a proposed wealth tax on the net worth of billionaires, spurning a ballot proposition that would have imposed a one-time 5% tax on any Californian whose net worth exceeded $1 billion.With 100% of precincts reporting results as of Monday evening, 52.8% of Californians who voted for the measure, or 5,909,899 people, voted against it, according to California's secretary of state.Despite a sweeping blue wave that saw numerous prominent progressive Democrats
  
  Read more

• FDA orders new warning labels on Ozempic, Wegovy over rare risk of permanent vision loss

  10-11-2026 14:10 via Latest Business News on Fox Business
  
  The Food and Drug Administration has warned that those who take popular weight-loss drugs carry a small risk of developing a side effect that could lead to permanent vision loss.The agency has instructed all GLP-1 drugmakers to affix new warning labels to their products, which treat obesity, diabetes and several other medical conditions. The FDA's advisory applies to a dozen pill-based and injectable drugs, including Ozempic and Wegovy.The eye condition, non-arteritic anterior ischemic optic neu
  
  Read more

• Rewards platform Bilt announces 'next evolution' for American consumers, small businesses

  10-11-2026 12:30 via Latest Business News on Fox Business
  
  Bilt, best known for helping renters earn rewards on housing payments, is expanding into local commerce with a new artificial intelligence platform aimed at helping businesses attract customers while giving consumers more ways to earn rewards close to home.The company announced Tuesday that it is launching "Bilt Neighborhood OS," which connects with existing business systems for reservations, payments, customer management and loyalty programs to help merchants reach nearby customers, personalize
  
  Read more

• Why Danielle Smith wants to give a subsidy to the oilpatch despite near-record profits

  10-11-2026 10:00 via CBC | Business News
  
  The Alberta government is preparing to unveil new subsidies later this month for oil companies to ramp up production to help fill the province’s proposed Pacific Link pipeline to the West Coast.
  
  Read more

• More than 1.2M Ford vehicles under federal probe after safety feature causes severe burns, 10 injured

  10-11-2026 01:14 via Latest Business News on Fox Business
  
  Federal regulators have launched a preliminary evaluation into more than 1.2 million Ford vehicles after side airbags deployed during crashes reportedly left multiple occupants with severe burns requiring medical treatment.The National Highway Traffic Safety Administration (NHTSA) opened the probe last Friday. The notice affects 2021-2026 model Ford Explorer vehicles, including Explorer Police Interceptors used by law enforcement.  Side airbag deployments reportedly caused second and third-de
  
  Read more

• Nvidia CEO Jensen Huang is embroiled in a spying scandal. Could the AI chipmaker survive without him?

  10-11-2026 00:47 via CBC | Business News
  
  Nvidia CEO Jensen Huang has helmed the company since starting it in 1993, guiding it from a graphics card maker to the AI behemoth it is today. But with an investigation now underway into whether Huang was the target of a foreign intelligence effort and no clear successor in sight, analysts say a change at the top — if it were deemed necessary — would be massive.
  
  Read more

• Could Nvidia survive without its ultra-powerful CEO, Jensen Huang?

  10-11-2026 00:47 via CBC | Business News
  
  Nvidia CEO Jensen Huang has helmed the company since starting it in 1993, guiding it from a graphics card maker to the AI behemoth it is today. But with an investigation now underway into whether Huang was the target of a foreign intelligence effort and no clear successor in sight, analysts say a change at the top — if it were deemed necessary — would be massive.
  
  Read more

• California amusement park to close after more than 50 years

  09-11-2026 23:39 via Latest Business News on Fox Business
  
  A California amusement park will close its gates for the final time next year after more than 50 seasons in business.California’s Great America, owned by Six Flags, in Santa Clara said it will cease operations after it opted not to extend its land lease that expires in June 2028. The park’s final season will begin in March 2027 and end on Labor Day.SIX FLAGS GIVES FAN-FAVORITE ARIEFORCE ONE COASTER A SECOND LIFE"The Farewell Season is an opportunity for generations of Bay Area guests to ret
  
  Read more

• Nvidia case highlights risks of alleged 'honeypot' schemes targeting executives

  09-11-2026 22:18 via Latest Business News on Fox Business
  
  Corporate secrets can be at risk when executives are targeted in so-called honeypot schemes, which can be aimed at divulging trade secrets or strategic plans and, in certain industries, national security information that could be of use to foreign adversaries.Nvidia CEO Jensen Huang on Sunday admitted to being unfaithful to his wife, which prompted the company's board of directors to open an internal investigation into the matter because of reports he was targeted by an alleged Chinese spying op
  
  Read more

• Roshel to buy Stellantis assembly plant in Brampton for undisclosed amount, companies say

  09-11-2026 22:11 via CBC | Business News
  
  Automaker Stellantis and Canadian armoured vehicle maker Roshel Inc. have announced an agreement under which Roshel will buy the Brampton assembly plant and equipment from Stellantis for an undisclosed amount.
  
  Read more

• Roshel to buy Stellantis assembly plant in Brampton for undisclosed amount, automaker says

  09-11-2026 22:11 via CBC | Business News
  
  Canadian armoured vehicle maker Roshel Inc. will buy the Stellantis assembly plant in Brampton, Ont., the automaker announced Monday.
  
  Read more

• Armoured vehicle maker Roshel to buy Stellantis assembly plant in Brampton, Ont., automaker says

  09-11-2026 22:11 via CBC | Business News
  
  Canadian armoured vehicle maker Roshel Inc. will buy the Stellantis assembly plant in Brampton, Ont., the automaker announced Monday.
  
  Read more

• Payments Canada launches long-delayed instant payments system

  09-11-2026 21:12 via CBC | Business News
  
  Payments Canada says it has launched its real-time rail national payment system, which is expected to speed day-to-day payments for Canadian businesses and consumers.
  
  Read more

• $276 for hair ties? Skims offers advent calendar refunds after online backlash

  09-11-2026 20:23 via CBC | Business News
  
  After intense customer backlash, Kim Kardashian's apparel brand Skims is offering refunds to anyone who purchased its 2026 accessories advent calendar, which costs $276 and was advertised as "12 fun days of surprises."
  
  Read more

• Honda Canada announces plans to retool Alliston, Ont., plant for hybrid production

  09-11-2026 20:13 via CBC | Business News
  
  Honda Canada says it will retool its manufacturing facilities in Alliston, Ont., to expand production of hybrid-electric and gasoline-powered vehicles. The Japanese automaker announced Monday it is partnering with the federal and provincial governments to fund plant upgrades, including the reintroduction of engine manufacturing, with an initial $166-million investment.
  
  Read more

• Top U.S. hedge fund executive named CEO of Canada's new sovereign wealth fund

  09-11-2026 18:59 via CBC | Business News
  
  A top executive at one of the world's largest hedge funds is leaving her job in the U.S. to become the CEO of one of the Carney government's hallmark projects.
  
  Read more

Follow @Business_Newsl on Twitter!