Business news

• LARRY KUDLOW: Trump has Biden on the run

  17-05-2024 00:58 via foxbusiness.com
  
  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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• Boeing investigating quality issue on undelivered 787 Dreamliner planes

  14-06-2024 14:51 via foxbusiness.com
  
  Boeing is investigating whether some fasteners on its undelivered 787 Dreamliner planes have been incorrectly installed, the aircraft maker told FOX Business. A Boeing spokesperson said Friday that "Our 787 team is checking fasteners in the side-of-body area of some undelivered 787 Dreamliner airplanes to ensure they meet our engineering specifications.""The in-service fleet can continue to safely operate," the spokesperson added, noting that the issue was discovered during its regular qual
  
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• Social Security payments will get cut $325 a month starting in 2033 without changes: actuaries

  14-06-2024 12:00 via foxbusiness.com
  
  The head actuaries for Social Security and Medicare testified before a House panel on Thursday about the two safety net programs' looming financial woes that could see key trust funds depleted in roughly a decade, which would leave beneficiaries facing a benefit cut if the funding gap isn't resolved by Congress.Trustees for Social Security and Medicare recently released a report that looked at the health of the key trust funds which found that key trust funds are on pace to be depleted in roughl
  
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• Skilled workers are in demand, these trade jobs pay the most

  14-06-2024 12:00 via foxbusiness.com
  
  Trade jobs in the U.S. are in a renaissance with high demand for skilled workers and waning interest in college among young adults.The shortage of workers in the trades has driven up the pay, making those positions more attractive and the training a better payoff than a four-year college degree, in many instances.Using data from the U.S. Bureau of Labor Statistics, job site Indeed recently reported that the average salary for a trade job in America is $61,900, but several occupations pay much mo
  
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• Mike Rowe backs Chick-fil-A’s $35 skills summer camp that was slammed as ‘child labor’: ‘God bless them’

  14-06-2024 12:00 via foxbusiness.com
  
  Some parents are putting Chick-fil-A in the hot seat over one Louisiana location's controversial summer camp, which aims to teach kids applicable life skills in a unique environment.Beloved TV host of "Dirty Jobs" Mike Rowe reacted to the one-of-a-kind camp during an appearance on "Varney & Co.," pushing back on the accusation that the camp should be considered "child labor."The franchise location in Hammond, Louisiana, will open its doors to kids, ages 5 through 12, to participate in its ve
  
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• Home foreclosures are on the rise again nationwide

  14-06-2024 12:00 via foxbusiness.com
  
  Home foreclosures rose again in May as Americans continue to grapple with the ongoing cost-of-living crisis. That is according to a new report published by real estate data provider ATTOM, which found that there were 32,621 properties in May with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions. That marks a 3% increase from the prior year, although it is down 7% from the same time last year. "May’s foreclosure activity highlights nua
  
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• Disney spending: Nearly 50% of parents with young children take on debt for theme park trip

  14-06-2024 12:00 via foxbusiness.com
  
  Nearly 50% of parents with young children are going into debt after taking a trip to one of Disney's theme parks, according to a recent LendingTree report.LendingTree surveyed more than 2,000 consumers, 24% of which have gone into debt for the trip, a 33% increase from its 2022 findings. However, that figure jumped to 45% among parents with children younger than 18, according to the data.FOX Business reached out to Disney for comment. DISNEY SET TO INVEST $17B IN FLORIDA PARKS FOLLOWING APP
  
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• Consumers to show Father's Day appreciation with $22.4B in spending

  14-06-2024 12:00 via foxbusiness.com
  
  Scores of American consumers have fathers and father figures for whom they want to show their appreciation this Father’s Day, and according to a National Retail Federation (NRF) estimate, they will collectively splash out an eye-popping amount of money to do so.The NRF and Prosper Insights & Analytics found in a survey that this year’s expected Father’s Day spending by American consumers will amount to the "second highest figure in the survey’s history" at $22.4 billi
  
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• What X's move to hide our likes means for accountability

  14-06-2024 10:00 via cbc.ca
  
  X will now hide who likes a post, in a move the company said would boost privacy. Experts say it could also limit the public's insight into the minds of the powerful and prevent them from being held accountable when what they like online contradicts their public stances.
  
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• Florida company deploying drones to fight mosquitoes across the US

  14-06-2024 02:54 via foxbusiness.com
  
  A Florida-based company has been deploying drones across the United States to help keep mosquitoes at bay. Based in Daytona Beach, Florida, Leading Edge Aerial Technologies has drones in nearly half of all U.S. states and Australia, spraying for mosquitoes in places that are difficult to access.The company’s drones are leased or sold to counties and operate in areas as small as one acre or as large as 250 acres, typically in places where houses are being built. The company says i
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,681,313,704,677.46 as of 6/13/24

  14-06-2024 01:49 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 — declined to $34,681,313,704,677.46 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $21.6 billion from the figure reported the previous day.By comparison, just four decades ago, the national
  
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• FBI warns of Mexican cartels targeting Americans in timeshare fraud schemes

  14-06-2024 00:42 via foxbusiness.com
  
  The FBI is warning of a spike in scams targeting timeshare owners and that a large portion of these schemes are being perpetrated by Mexican drug cartels.The schemes entail criminals targeting part-time property owners, often older Americans, and convincing them to hand over large sums of cash under false pretenses related to their timeshare properties. Scammers will usually conduct extensive research on potential victims, creating fake documents and impersonating individuals from "trustwor
  
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• LARRY KUDLOW: Unity was significant in Congress today

  14-06-2024 00:16 via foxbusiness.com
  
  Low taxes and deregulation at the Business Roundtable and that’s the subject of the riff. Former President Donald Trump made his first visit to Capitol Hill on Thursday, the first one since he left office three and a half years ago. He met with Senate and House Republicans and then visited the nation's top CEOs at the Business Roundtable, where yours truly was the moderator and interviewer for the one-hour session. We'll have much more on the House and Senate meetings with our own Joh
  
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• Tesla shareholders vote to reinstate Musk's $56B pay package

  13-06-2024 23:20 via foxbusiness.com
  
  Tesla shareholders on Thursday voted to reinstate CEO Elon Musk's $56 billion pay package that was voided by a Delaware judge and change the company's state of incorporation from Delaware to Texas.The EV-maker held its annual shareholder meeting on Thursday in Austin, Texas, and announced that shareholders approved Musk's pay package, according to preliminary results announced by the company's general counsel at the meeting. Additionally, shareholders voted to reincorporate Tesla as a business d
  
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• Tyson Foods CFO arrested, receives suspension from company

  13-06-2024 22:52 via foxbusiness.com
  
  John R. Tyson has been suspended from his position as Tyson Foods’ chief financial officer amid new legal troubles for the 34-year-old arising out of a Thursday morning arrest. "We are aware that John Randall Tyson, Chief Financial Officer of Tyson Foods, was arrested for an alleged DWI," Tyson Foods, which was founded by his great-grandfather, said in a statement. "Tyson foods has suspended Mr. Tyson from his duties effective immediately and named Curt Calaway as interim Chief Financ
  
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• Supreme Court sides with Starbucks in case over fired pro-union workers

  13-06-2024 22:02 via foxbusiness.com
  
  The Supreme Court on Thursday issued a ruling that sided with coffee giant Starbucks in its challenge against a lower court's order that it rehire seven employees who had been fired amid a unionization push.In an 8-1 decision, the justices threw out the lower court's approval of an injunction sought by the National Labor Relations Board (NLRB) that ordered Starbucks to reinstate the workers while the NLRB's administrative case against the coffee chain proceeds.The case concerned a group of seven
  
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• Wells Fargo fires more than a dozen employees for faking work: report

  13-06-2024 21:57 via foxbusiness.com
  
  Wells Fargo reportedly handed more than a dozen employees pink slips last month after an investigation found they were faking work.Bloomberg first reported Thursday that, according to the bank's disclosures to the Financial Industry Regulatory Authority, the workers — all from the firm's wealth and investment management unit — were "discharged after review of allegations involving simulation of keyboard activity creating impression of active work.""Wells Fargo holds employees to the
  
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• Canadian bank CEOs defend investments in oil and gas

  13-06-2024 20:42 via cbc.ca
  
  The chief executives from Canada's five biggest banks faced hard questions from MPs on Thursday over their climate commitments and plans to help spur transition to renewable energy.
  
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• Bank CEOs to face questions from MPs over climate policy

  13-06-2024 20:42 via cbc.ca
  
  Representatives from Canada's five biggest banks are expected to face questions from MPs this afternoon over their commitments to help reduce greenhouse gas emissions and spur the transition to renewable forms of energy.
  
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• Bank CEOs face questions from MPs over climate policy

  13-06-2024 20:42 via cbc.ca
  
  Representatives from Canada's five biggest banks will face questions from MPs this afternoon over their commitments to help reduce greenhouse gas emissions and spur the transition to renewable forms of energy.
  
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• This week's personal loan rates rise for 3-year loans, while 5-year terms plummet

  13-06-2024 19:59 via foxbusiness.com
  
  Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before.For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender between June 6 and June 12:Personal loans have become a popular way to consolidate debt and pay off credit card debt and other loans. They can also be used to cover unexpected
  
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• Eighth Circuit to decide: Should car insurance cover STDs?

  13-06-2024 19:59 via foxbusiness.com
  
  A federal appeals court on Wednesday heard arguments over whether car insurance should pay out benefits to a woman who caught a sexually transmitted disease from a policyholder in his insured vehicle. In GEICO General Insurance Co. v. M.O., a Missouri woman, the titular M.O., claims that her partner, Martin Brauner, negligently infected her with human papillomavirus (HPV) after they had sex in his 2014 Hyundai Genesis. She claims Brauner was aware he had HPV but neglected to inform her befo
  
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• California’s $20 minimum wage led to fast-food price hikes, lower customer traffic, study shows

  13-06-2024 19:15 via foxbusiness.com
  
  California's new $20 minimum wage for fast-food workers has already caused a surge in restaurant prices and a decline in foot traffic since it went into effect April 1, data shows.A recent study released by Placer.ai found that as a result of the new law  which impacts restaurants with 60 or more locations — most quick-service chains have raised menu prices in the state by anywhere from the mid-single digits to mid-teens, percentage-wise, and the price hikes are hurting business.The a
  
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• Larry Ellison is $15B richer after Oracle shares hit new all-time high

  13-06-2024 19:04 via foxbusiness.com
  
  Oracle co-founder and Chief Technology Officer Larry Ellison’s net worth surged on Wall Street’s positive reaction to the software giant’s fourth-quarter earnings results.Forbes, which tracks the wealth of billionaires, reported a more than $15 billion increase in Ellison’s fortune on Wednesday, the day after Oracle CEO Safra Catz said she expects "continued strong AI demand to push Oracle sales and RPO even higher — and result in double-digit revenue growth" in fis
  
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• Idaho farmer sounds the alarm over water restrictions that can damage 500K acres of farmland: 'Significant'

  13-06-2024 19:04 via foxbusiness.com
  
  Eastern Idaho farmers may soon be out of water after the state issued a major curtailment. Brian Murdock, a farmer who resides in East Idaho, warned of the potential devastating impact of the order on his business during his appearance on "The Bottom Line" Wednesday."Well, as you said, the state of Idaho and the Idaho Department of Water Resources has issued this curtailment of 500,000 acres. And to help put that in perspective, that's basically 781 square miles of farm ground that is being
  
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• Fed leaves interest rates unchanged with just one cut projected by the end of 2024

  13-06-2024 18:49 via foxbusiness.com
  
  On Wednesday, the central bank announced it would maintain the federal funds rate range at 5.25% to 5.5%, where rates have held steady since last July. The decision was not unexpected and comes as several economic indicators trend in the right direction. Wednesday's inflation report, which showed inflation rose 3.3% over the 12 months ending in May, and the core CPI rose 3.4%, was better than expected. Federal Chair Jerome Powell said that the report builds confidence that inflation is movi
  
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• 5 more arrests, including primary suspect, in connection with Desjardins data leak

  13-06-2024 18:03 via cbc.ca
  
  Quebec provincial police have arrested five more people with crimes tied to a massive data breach at Desjardins, including the former bank employee originally suspected of being behind the leak.
  
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• 4 more arrests, including primary suspect, in connection with Desjardins data leak

  13-06-2024 18:03 via cbc.ca
  
  Quebec provincial police have arrested four more people with crimes tied to a massive data breach at Desjardins, including the former bank employee originally suspected of being behind the leak.
  
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• Mortgage rates fall to 6.95%

  13-06-2024 18:02 via foxbusiness.com
  
  Mortgage rates are down for the second straight week, but still remain stubbornly high for many would-be buyers.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.95% this week from 6.99% last week. The average rate on a 30-year loan was 6.69% a year ago.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe average rate on the 15-year fixed mortgage also decreased to 6.17% from 6.29% last wee
  
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• Megabus Canada's parent company files for bankruptcy protection in U.S.

  13-06-2024 17:54 via cbc.ca
  
  Coach USA, the operator of Megabus and other commuter bus lines in the U.S. and Canada, filed for bankruptcy protection in Delaware late Tuesday, seeking to sell its assets and shed debt incurred in an ill-timed 2019 private equity buyout.
  
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