Business news

• Feds investigating Ford Mustang Mach-E hands-free tech after fatal crashes

  29-04-2024 20:28
  
  The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into Ford's BlueCruise hands-free driving technology after two fatal crashes involving Mustang Mach-E electric SUVs.The agency's probe will evaluate the safety of Mustang Mach-E vehicles from the 2021 through 2024 model years, which is around 130,000 cars.Ford told FOX Business in a statement that it is "working with NHTSA to support its investigation."The National Transportation Safety Board (NTSB) has open
  
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• Canadian Taylor Swift fans are flying to Europe for cheaper concert tickets

  17-05-2024 10:00 via cbc.ca
  
  Canadian fans are tallying up the cost of a flight, hotel and ticket, and are finding that travelling to Europe to see Taylor Swift in concert may be better bang for their buck than seeing the show on Canadian soil.
  
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• NFL legend Drew Brees talks 'unbelievable' opportunity to join Sports Illustrated Tickets as investor

  17-05-2024 02:05
  
  Sports Illustrated Tickets, a fan-first primary and secondary ticketing marketplace, has added a legendary NFL quarterback to its group of investors. Drew Brees, a Super Bowl MVP and the best quarterback in New Orleans Saints history, was announced Thursday as Sports Illustrated Tickets latest investor. And it comes as the full 2024-25 NFL schedule was released for all 32 teams in the league Wednesday night. Brees spoke with Fox Business Digital about why he believes in Sports Illustra
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,534,845,450,747.16 as of 5/16/24

  17-05-2024 01:51
  
  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 — declined to $34,534,845,450,747.16 as of Wednesday afternoon, according to the latest numbers published by the Treasury Department. That is down about $37.7 billion from the $34,572,509,369,831.78 figure reported the previous day.By comparison, just four d
  
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• Business leaders pressed NYC Mayor Adams to disperse Columbia protesters: report

  17-05-2024 01:33
  
  A group of wealthy business owners and investors pressed New York City Mayor Eric Adams to disperse anti-Israel protesters at Columbia University in the city, according to a report by the Washington Post.Business leaders urged Adams to use his influence with Columbia's president and board of trustees to get permission to send police to the campus and disperse the protesters. Those protests, which have been criticized as being antisemitic and raising security concerns, have prompted the universit
  
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• LARRY KUDLOW: Trump has Biden on the run

  17-05-2024 00:58
  
  Let me circle back to President Trump's rally on the beach in Wildwood, New Jersey, last Saturday. I believe this was an historic event. Just doing some homework, the only political rally on record here in America larger than Trump’s in Wildwood was Franklin Delano Roosevelt’s in Sea Girt, New Jersey, in 1932, where 120,000 people turned out. That was 92 years ago — I wasn't even born then! — and was the handwriting on the wall for a massive victory for FDR.&nbs
  
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• Former Facebook and Nike DEI manager sentenced to 5 years in prison for fraud scheme

  17-05-2024 00:32
  
  A former diversity program manager for Facebook and Nike who admitted to stealing $5 million through kickback schemes she orchestrated at the companies is headed to federal prison for her crimes.The U.S. Attorney's Office for the Northern District of Georgia announced this week that Barbara Furlow-Smiles, 38, was sentenced to five years and three months behind bars for her fraud scheme and ordered to pay restitution of $4,981,783.58 to Meta-owned Facebook and $121,054.50 to Nike."Furlow-Smiles s
  
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• Researchers say they've built an AI-powered sarcasm detector

  17-05-2024 00:10
  
  A team of university researchers in the Netherlands says they've developed an artificial intelligence (AI) platform that can recognize sarcasm, according to a new report.The Guardian reported on Thursday that the research was presented at a meeting of the Acoustical Society of America and the Canadian Acoustical Association in Ottawa, Canada, on Thursday. At the event, Ph.D. student Xiyuan Gao said the research team used video clips and other text and audio content from American sitcoms like "Fr
  
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• McDonald's to sell 'Grandma McFlurry' for limited time

  16-05-2024 23:54
  
  McDonald’s is temporarily putting a new McFlurry on its menu with flavors that might make customers think of their grandmothers.The fast-food chain said Thursday that a limited-time "Grandma McFlurry" will roll out at U.S. restaurants on Tuesday and remain for sale "while supplies last."It will be made with a "delicious syrup and chopped, crunchy candy pieces" as well as McDonald’s vanilla soft serve ice cream, according to the chain. It described the candy as being "like grandma&rsq
  
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• Iconic Mirage casino in Las Vegas closing, rebranding with guitar-shaped Hard Rock Hotel

  16-05-2024 23:30
  
  The Mirage hotel-casino will close its doors in July after 34 years of operating along the Las Vegas Strip in Nevada.The famous hotel, which opened in 1989, was the first megaresort to open on the Las Vegas Strip, and its success sparked a building boom in the 1990s for other large resorts, forever transforming the way the tourist hot spot did business. The popular resort, instantly recognizable for its Y-shaped design and imagery of The Beatles Cirque du Soleil show "LOVE" advertised acros
  
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• Adidas to bring lower-cost Samba, other shoe models to market

  16-05-2024 23:23
  
  Adidas is apparently looking to bring lower-cost shoe models to the market.Reuters reported Thursday the sportswear company indicated Samba and other shoes will become more affordably priced options in the $60 to $80 range."It’s important to understand that not everyone can afford to buy a shoe for $120 or $150, but everyone wants to take part in the same trends," CEO Bjorn Gulden told investors. GET FOX BUSINESS ON THE GO BY CLICKING HERE"What we do at the top, $100 and higher, we&rs
  
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• Dow hits 40,000 for first time

  16-05-2024 23:05
  
  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
  
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• 'Fake heiress' Anna Sorokin uses court appearance to put on fashion show promoting client

  16-05-2024 22:53
  
  Convicted con woman Anna Sorokin used her latest court appearance in New York to promote a client of her fashion public relations firm, showing off a custom outfit complete with her ankle monitor.The so-called "fake heiress," also known as Anna Delvey, arrived at immigration court Thursday wearing an ensemble designed by SHAO New York, a brand represented by Sorokin's fashion PR consultancy, OutLaw Agency.OutLaw alerted Page Six earlier this week that Sorokin would use the opportunity for what i
  
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• Massachusetts teen died from eating spicy chip on social media challenge

  16-05-2024 22:35
  
  A Massachusetts teenager who participated in a social media challenge where users eat a spicy tortilla chip died from eating a large quantity of chile pepper extract and also had a congenital heart defect, according to autopsy results.Harris Wolobah, from the city of Worcester, died on Sept. 1, 2023, after eating the chip manufactured by Paqui, a Texas-based subsidiary of the Hershey Co. Wolobah died of cardiopulmonary arrest "in the setting of recent ingestion of food substance with high c
  
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• Many US consumers staying away from EVs due to lack of charging availability: report

  16-05-2024 22:06
  
  American car buyers' interest in purchasing electric vehicles (EVs) dipped compared to a year ago, in part due to concerns about adequate charging infrastructure, a new study from J.D. Power shows.The J.D. Power 2024 U.S. Electric Vehicle Consideration Study found that for the first time since the study's inception in 2021, consumers looking to buy a new car were less likely to consider buying an EV.It found that 24% of car shoppers say they're "very likely" to consider buying an EV, a decrease
  
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• April inflation eases slightly, but 2% target still out of reach

  16-05-2024 20:50
  
  Consumer prices rose slower than anticipated in April but remained above last year's levels, according to the Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS).On an annual basis, prices rose 3.4% in April, a slight softening from the 3.5% growth last month and in line with expectations. On a monthly basis, prices increased 0.3% after rising 0.4% the previous month and registering below the 0.4% growth economists projected. Core inflation, which excl
  
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• Visa changes coming this year will mean fewer cards for Americans

  16-05-2024 20:25
  
  Major changes announced by Visa this week mean Americans will soon not need to carry around as many credit and debit cards.During Visa's annual Payments Forum in San Francisco on Wednesday, the company unveiled its new Visa Flexible Credential, which will allow customers to use a single card to access payment options from multiple credit and bank accounts, and even "Buy Now Pay Later" plans when making a purchase.Visa's flexible payment option is already available in Asia, and the company will b
  
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• Analysts dismiss fears of German 'de-industrialization' for now

  16-05-2024 20:14
  
  High energy costs, weak global demand, a disruptive shift towards net-zero economies and growing competition from China are raising existential questions for Germany's economic model.CEOs and business lobbies say its historically strong industrial base is close to cracking, a "de-industrialization" risk often accompanied by calls for government support.But how real is this risk? Here are some key data and how close watchers of the German economy interpret them.GERMANY ECLIPSES JAPAN AS WORLD'S T
  
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• Loblaw agrees to sign grocery code of conduct — but only if competitors do, too

  16-05-2024 20:00 via cbc.ca
  
  Loblaw Companies Ltd. says it's ready to sign on to the grocery code of conduct as long as other industry players do, too, paving the way for an agreement that's been years in the making.
  
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• Loblaw agrees to sign grocery code of conduct — but only if competitors do

  16-05-2024 20:00 via cbc.ca
  
  Loblaw Companies Ltd. says it's ready to sign on to the grocery code of conduct as long as other industry players do, too, paving the way for an agreement that's been years in the making.
  
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• Celebrity chef says restaurant-goers are still seeing high menu prices because of this 'No. 1 problem'

  16-05-2024 20:00
  
  After restaurant stocks served up a mixed earnings bag this season, one "Iron Chef America" alum is revealing the "No. 1 problem" that’s keeping their prices high and overall profits low."The No. 1 problem for us is controlling labor cost," Chef David Burke said Wednesday on "The Claman Countdown." "There's employees out there, so many employees, they're commanding top dollar, but not necessarily the top talent.""There's lots of turnover, there's lots of benefits that are associated, depen
  
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• Credit card debt is surging as average American owes $6,218

  16-05-2024 19:56
  
  Americans are racking up more credit card debt as they continue to battle high inflation and interest rates.New data published Thursday by TransUnion shows the average debt per borrower hit $6,218 at the end of the first quarter, an 8.5% increase from one year ago.Consumers owe a collective $1.02 trillion in credit card debt."As consumers manage expenses amidst stubbornly high inflation, demand for credit continues to be strong despite the currently relatively high interest rates," said Pau
  
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• Varney: Jealousy and rich-bashing never go out of style with socialists

  16-05-2024 19:20
  
  During his "My Take" on Thursday, "Varney & Co." host Stuart Varney reacted to Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., reintroducing the Ultra-Millionaire Tax Act that would slap a 2% tax on households worth $50 million to $1 billion, and a 3% tax on households over $1 billion.STUART VARNEY: A friend of mine texted me yesterday. He said how about Dow 40,000 by the 4th of July? I said we could get there well before then.DOW BLOWS PAST 38,000 IN NEW MILESTONEAne we did
  
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• Anti-Israel rallying cry being reviewed by Facebook oversight board is tied to 'violent campaign,' expert says

  16-05-2024 19:01
  
  An expert on the Middle East tells FOX Business that the phrase "from the river to the sea" — which Facebook's independent oversight board is now considering whether to designate as hate speech — is "inextricably linked" to a "violent campaign to get rid of Israel." David Adesnik, a Senior Fellow and Director of Research at the nonprofit Foundation for Defense of Democracies, is speaking out after Facebook's oversight board announced plans to review the phrase, citing three inst
  
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• Woman wins ultimate jackpot thanks to $2 bet on what she thought was a 'demo' game

  16-05-2024 18:56
  
  A North Carolina woman is more than half a million dollars richer thanks to a decision to bet $2 on a digital game. Cynthis Harris of Cary, North Carolina, was playing Bison Bonanza, an instant win game, on Monday when she won the ultimate jackpot. Harris bet $2 and won the top-level progressive jackpot, which meant she hit a $736,874 prize, the NC Education Lottery reported. WINNER WINNER: VIRGINIA MAN GOES OUT FOR CHICKEN, WINS $500,000The woman, whose odds of winning the jackpo
  
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• Winning Powerball ticket with $50,000 prize unclaimed in Virginia and will soon expire

  16-05-2024 18:50
  
  Somewhere in Virginia there is a Powerball ticket winner at risk of losing their unclaimed $50,000 prize.The lucky ticket was sold at the Wawa at 2390 Plank Road in Fredericksburg, Va., according to FOX 5 DC. The winning numbers were drawn on November 27, 2023, but so far no one has come forward to claim the prize money. Under state law, a winning lottery ticket in Virginia will expire 180 days after the drawing.May 25, a Saturday, marks 180 days since the drawing. But since Lottery offices
  
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• 3 sexual assault incidents reported at same Georgia Target store: police

  16-05-2024 18:41
  
  Police are understood to have ramped up security at a Target store in Georgia after three separate incidents of sexual assault were reported there in recent weeks.The cases involve accusations of groping and women being secretly recorded inside a Target store located on the 1900 block of Scenic Highway in Snellville, according to FOX 5 Atlanta. Snellville is a city about 30 miles from Atlanta. Snellville Police says it has "increased patrols" and "officer presence" to respond prom
  
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• Mortgage rates drop for second straight week to 7.02%

  16-05-2024 18:24
  
  Mortgage rates declined for a second consecutive week but remain above 7% as a home affordability crisis maintains its grip on the housing market.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 7.02% this week from 7.09% last week. The average rate on a 30-year loan was 6.39% a year ago.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe average rate on the 15-year fixed mortgage also fell to
  
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• Wayfair's first large-format store to open next week

  16-05-2024 17:41
  
  Wayfair’s first large-format store will open its doors to the public next week.The store, located in Wilmette, Illinois, not far from Chicago, will officially open up shop once the online home goods retailer holds a grand opening for it on the morning of May 23.The opening will come roughly a month after Wayfair first announced its launch date. The company already has some physical locations for other brands it owns.WAYFAIR TO CUT 1,650 JOBS A MONTH AFTER CEO SAYS EMPLOYEES SHOULD BE &lsqu
  
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• Olive oil is how much now? Prices jump — again — amid worldwide shortage

  16-05-2024 10:00 via cbc.ca
  
  Shoppers may find themselves doing a double take in the olive oil section of their local grocery stores these days as industry analysts say prices have reached a record high.
  
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