Business news

• Google CEO Backs Privacy Law, Denies Bias in Remarks to Congress

  10-12-2018 23:28 via finance.yahoo.com
  "I lead this company without political bias and work to ensure that our products continue to operate that way," Pichai said, according to the transcript released on Monday."As an American company, we cherish the values and freedoms that have allowed us to grow and serve so many users," Pichai said.
  
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• Bank of Canada cuts key interest rate to 4.75%

  05-06-2024 16:11 via cbc.ca
  
  The Bank of Canada has lowered its key interest rate to 4.75 per cent.
  
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• John Lennon, Yoko Ono’s NYC loft purchased after Beatles’ breakup selling for $5.5M

  05-06-2024 10:00 via foxbusiness.com
  
  John Lennon and his wife Yoko Ono's New York City loft is on the market for the first time in more than 50 years. The two-story loft-style building at 496 Broome St. was purchased by the duo in 1971, not long after The Beatles broke up and Lennon released one of the most influential songs of the 20th century, "Imagine."At the time, Lennon was eager to break free from The Beatles and make a name for himself as a solo artist while creating a new identity with Ono – an artist and peace a
  
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• $560 million Mega Millions jackpot won by player in Illinois

  05-06-2024 08:13 via foxbusiness.com
  
  The Mega Millions lottery announced a jackpot winner in Tuesday night's estimated $560 million drawing, with the winning ticket purchased in Illinois.The winning numbers Tuesday night were: 19, 37, 40, 63, 69 and gold Mega Ball 17. The Megaplier was 3X.This was the ninth-largest prize in the game's history.In addition to the jackpot, 2 players — one in California and another in Maryland — matched all five white balls to win $1 million. Had they purchased the Megaplier for an extra $1
  
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• FanDuel nearing naming rights deal to replace Bally Sports: report

  05-06-2024 02:28 via foxbusiness.com
  
  FanDuel may be on a lot more televisions relatively soon.The sports gambling giant is reportedly nearing a deal to replace Bally as Diamond Sports' naming brand for its regional sports networks.Diamond declared bankruptcy last year with its parent, Sinclair, losing money since its $9.6 billion purchase from Disney in 2019. Diamond's networks broadcast 38 teams in MLB, the NBA and NHL.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMAccording to Sportico, Diamond reportedly said in Tuesday's Cha
  
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• Biden admin official says higher tariffs on Chinese EVs are crucial for US automakers

  05-06-2024 02:08 via foxbusiness.com
  
  Secretary of Energy Jennifer Granholm on Tuesday said that the Biden administration's plan to quadruple tariffs on imported Chinese electric vehicles to over 100% in August is crucial to the health of the U.S. auto sector."We need to have that industry here," Granholm said in an interview with Reuters on Tuesday. "If we didn't do that, we would just be ceding the entire territory to China like we saw happen with solar panels."She added that China's "plan is very aggressive on industrial policy a
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,635,364,143,328.14 as of 6/4/24

  05-06-2024 01:42 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 — fell to $34,635,364,143,328.14 as of Tuesday afternoon, according to the latest numbers published by the Treasury Department. That is down about $31 billion from the figure reported the previous day.By comparison, just four decades ago, the national debt h
  
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• Major ransomware attack strikes busy hospital system, prompting canceled operations and appointments

  05-06-2024 01:15 via foxbusiness.com
  
  A ransomware attack prompted some of London’s busiest hospitals to cancel operations and other appointments Tuesday, the region's health service confirmed.The attack targeted the IT systems of Synnovis, a provider of lab services, resulting in interruptions to many of the firm’s services. Synnovis Chief Executive Mark Dollar said it was still too early to know the full extent of the attack, and the company is "trying to understand exactly what happened." A spokesperson
  
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• LARRY KUDLOW: Nobody believes Biden is solving the border catastrophe

  05-06-2024 00:22 via foxbusiness.com
  
  Joe Biden's not going to fool anybody. This last-ditch election ploy to curb the flow of illegal immigrants coming into the U.S. looks to be vague, riddled with exceptions and frankly unenforceable. Then again, does anybody really believe Mr. Biden wants to enforce any limits to illegal immigration? Don't think so. I mean, here's a guy whose policies have already let in at least 10 million illegals, with all the horrors that accompany that number, including sex trafficking, drug traffi
  
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• Max ad-free streaming service is getting a price hike

  05-06-2024 00:02 via foxbusiness.com
  
  Warner Bros. Discovery on Tuesday raised the price for the ad-free subscription to its Max streaming service.The move, which will take effect immediately for new subscribers, hikes the monthly ad-free plan's price by $1 to $16.99 a month. It will also increase the annual ad-free plan price by $20 to an annual cost of $169.99.Prices for Max's ultimate ad-free tier, which includes features such as the ability to have four streams running at the same time and 4K streaming options, will increase by
  
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• AT&T customers hit with nationwide service issue

  04-06-2024 23:54 via foxbusiness.com
  
  AT&T customers faced a service issue Tuesday and that impacted their ability to make calls to contacts on other carriers.While the issue with cellular service was ongoing, an AT&T spokesperson told FOX Business: "There is a nationwide issue that is affecting the ability of customers to complete calls between carriers. The carriers are working as quickly as possible to diagnose and resolve the issue.""Nationwide 9-1-1 Services are operating normally at this time and our customers are not
  
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• Restaurant chain shuts down nearly 50 locations in California following minimum wage hike

  04-06-2024 23:05 via foxbusiness.com
  
  Rubio’s Coastal Grill, a California Mexican restaurant chain, announced the closure of 48 restaurants in the Golden State amid rising business costs.The Los Angeles Times reported that the chain decided to shutter nearly one-third of its restaurants following a "review of its operations and the current business climate.""While painful, the store closures are a necessary step in our strategic long-term plan to position Rubio’s for success for years to come," the restaurant chain annou
  
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• Americans still not sold on EVs despite Biden push, poll shows

  04-06-2024 22:08 via foxbusiness.com
  
  President Biden has made the push for broader adoption of electric vehicles a key pillar of his agenda to fight climate change since he entered the White House, but the latest data shows a major chunk of Americans still have no intention of buying an EV in the near future.A poll released Tuesday by The Associated Press-NORC Center for Public Affairs Research and the Energy Policy Institute at the University of Chicago found nearly half of Americans (47%) said they are not likely to purchase an E
  
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• WestJet announces UltraBasic fare with no carry-ons, no seat choice and no points

  04-06-2024 21:56 via cbc.ca
  
  WestJet announced that it has introduced an ultra low-cost fare — and if you like carry-ons, seat choice and earning points, there's a catch.
  
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• Elon Musk had Nvidia send AI chips intended for Tesla to X and xAI: report

  04-06-2024 21:52 via foxbusiness.com
  
  Billionaire entrepreneur Elon Musk asked Nvidia to ship artificial intelligence (AI) chips slated for Tesla to his social media platform X and AI startup xAI, CNBC reported Tuesday.CNBC reported that it reviewed an internal Nvidia memo dated in December that said, "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12K of shipped H100 GPUs originally slated for Tesla to X instead.""In exchange, original X orders of 12K H100 slated for Jan. and June to be redirected
  
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• Modi's shock election hits India ETFs

  04-06-2024 21:35 via foxbusiness.com
  
  Indian Prime Minister Narendra Modi looked set on Tuesday to retain power at the head of a ruling coalition, but his Hindu nationalist party lost its outright majority for the first time in a decade as voters defied predictions of another landslide.The outcome unnerved investors, with Indian stocks falling steeply as emerging results showed that Modi would, for the first time since sweeping to power in 2014, depend on at least three disparate regional parties whose political loyalties have waver
  
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• Consumers discouraged by high interest rates and deteriorating financial health: study

  04-06-2024 20:58 via foxbusiness.com
  
  Consumer satisfaction is taking a dip in the wake of high interest rates, driven up by inflation and the remnants of the pandemic. Nearly 73% of consumers with loans are now categorized as financially unhealthy, J.D. Power’s Consumer Lending Satisfaction study found.Last year, 67% of consumers were categorized the same way, indicating that times are getting tougher for many borrowers. This is forcing lenders to up their offerings to attract and keep customers.Higher levels of financial hea
  
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• Stock market could plunge 10% as economy faces stagflation threat, Stifel warns

  04-06-2024 19:46 via foxbusiness.com
  
  There may be trouble on the horizon for the U.S. stock market, according to Stifel analysts.In a Tuesday note to clients, the investment bank warned that stocks are headed for another sell-off that could see the S&P 500 tumble 10% by the end of the third quarter this year.The analysts suggested that sluggish economic growth and stubbornly high inflation – the hallmarks of a phenomenon known as stagflation – will force the Federal Reserve to hold interest rates at elevated levels,
  
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• Stuart Varney: Biden is relying on fear, anger and Trump hatred to keep his presidency

  04-06-2024 18:20 via foxbusiness.com
  
  During his "My Take," Tuesday, "Varney & Co." host Stuart Varney argued President Biden is attacking Trump as a "convicted felon" because he has no political achievements to run on as inflation, the border and crime remain issues.STUART VARNEY: President Biden slipped into a very wealthy town on Monday looking for campaign money. We don't know how much he raised in Greenwich, Connecticut, but we do know a lot more about where his campaign is going. BIDEN CAMPAIGN POUNCES ON TR
  
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• Biden confuses Xi with Putin while defending new tariffs on China

  04-06-2024 17:56 via foxbusiness.com
  
  President Biden confused Chinese President Xi Jinping with Russian President Vladimir Putin on Tuesday while defending new tariffs.During an interview with TIME Magazine, Biden stressed that while most economists agree tariffs raise prices on American consumers, the newly announced tariffs on China's trade practices will not."No, because here's the deal. There's a difference. I made it clear to Putin from the very beginning that—I'm not, we're not engaging in…For example, Trump want
  
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• Americans typically spend about 24% of their income on mortgage payments

  04-06-2024 17:25 via foxbusiness.com
  
  Mortgage payments are up from a year ago but haven’t quite crossed the threshold many mortgage experts recommend that homeowners stick to.It’s often recommended homeowners don’t spend more than 30% of their income on housing costs. Currently, the average monthly mortgage payment for single-family homes typically requires 24.2% of a buyer’s income, in the three months through March, Realtor.com reported. This is down slightly from last quarter, but up more than 23% from la
  
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• Dollar General fights back against thieves with plan to remove theft-prone merchandise, self-checkout lanes

  04-06-2024 17:19 via foxbusiness.com
  
  Dollar General is employing new measures to crack down on rampant retail theft that it says has been the most problematic problem for the business.The company said it plans to remove items that are frequently stolen and eliminate self-checkout options from thousands of additional stores.It's part of the company's ongoing effort to eliminate shrink, which "continues to be the most significant headwind," CEO Todd Vasos told analysts during an earnings call.Shrink is an industry term referring to l
  
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• Job openings unexpectedly fall in April to lowest level in 3 years

  04-06-2024 17:10 via foxbusiness.com
  
  U.S. job openings sank in April to the lowest level in more than three years, the latest sign that the labor market is cooling off as the economy slows.The Labor Department said Tuesday there were 8.1 million job openings in April, a decrease from the downwardly revised 8.35 million openings reported the previous month. Economists surveyed by LSEG expected a reading of 8.3 million.It marked the lowest level for job openings since February 2021. THE NUMBER OF HIGH-PAYING JOBS IS DWINDLINGThe
  
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• Cucumbers recalled in 14 states over potential salmonella contamination

  04-06-2024 16:25 via foxbusiness.com
  
  Whole cucumbers that have been shipped to more than a dozen states are being recalled after a sample tested positive for salmonella. Fresh Start Produce Sales recalled the vegetables, shipped from May 17 through May 21, over concerns that they may be contaminated with the organism, which can cause serious infections in children, frail or elderly people as well as those with weakened immune systems, according to a recall notice posted by the Food and Drug Administration (FDA). In some c
  
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• Today's mortgage rates fall for 30-year terms while 15-year terms hold steady | June 4, 2024

  04-06-2024 15:25 via foxbusiness.com
  
  The interest rate on a 30-year fixed-rate mortgage is 6.875% as of June 4, which is 0.115 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms and fees to ensure you get the best deal. 
  
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• Online streaming services must hand over 5% of domestic revenues, CRTC says

  04-06-2024 15:15 via cbc.ca
  
  Online streaming services operating in Canada will be required to contribute 5 per cent of their Canadian revenues to support the domestic broadcasting system, the country's telecoms regulator said on Tuesday.
  
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• Foreign streamers must pay into fund to boost Canadian content, CRTC says

  04-06-2024 15:15 via cbc.ca
  
  Online streaming services operating in Canada will be required to contribute five per cent of their Canadian revenues to support the domestic broadcasting system, the country's telecoms regulator said on Tuesday.
  
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• Market experts unveil what's really behind the meme stock craze

  04-06-2024 15:09 via foxbusiness.com
  
  While you might’ve heard the latest GameStop gossip, some market experts are interpreting the meme stock craze as the very definition of froth."The retail investor that sits on the sidelines and watches Wall Street make money, maybe even watches their parents make money in the stock market, wants to play," Madison Ventures+ principal and managing director Mitch Roschelle said in a "Cavuto: Coast to Coast" panel on Monday. "But they want to do it their own way, so they jump on these meme st
  
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• Fireball Whisky releases unique Father’s Day gift for dads who love the game of golf

  04-06-2024 14:45 via foxbusiness.com
  
  A popular whiskey brand announced the release of a special-edition golf club with a unique twist ahead of Father’s Day 2024. Look no further if you’re still trying to find the perfect Father’s Day gift for the upcoming June 16th holiday. Fireball Whisky created "The Fire Iron" golf club for dads who enjoy golfing — but there’s a catch.FATHER'S DAY BY THE NUMBERS: HISTORICAL FACTS, STATS AND CELEBRATIONSNot only is the golf club red in color and Fireba
  
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• ChatGPT is working again after being down for some users, OpenAI says

  04-06-2024 14:06 via foxbusiness.com
  
  OpenAI says its popular ChatGPT service is working again Tuesday after being down for some users. The company first said early this morning that an issue was being investigated as part of an "Unresolved incident."Users had been posting pictures on X of "Bad gateway" errors they say they were encountering when trying to access ChatGPT."A fix has been implemented and we are monitoring the results," OpenAI later announced, before updating its status page and adding "This incident has been reso
  
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