Business news

• More than 265K Ram vehicles facing recall over steering defect, regulators say

  08-10-2026 04:44 via foxbusiness.com
  
  Stellantis is recalling more than 265,000 Ram cargo vans over an issue with the vehicles' steering system, according to federal regulators.About 265,512 Ram ProMaster vans with model years from 2022-2026 are affected by the recall, the National Highway Traffic Safety Administration (NHTSA) said in its recall notice.The recall impacts various van models, including 44,391 Ram 1500 ProMasters, 147,204 Ram 2500 ProMasters and 72,043 Ram 3500 ProMasters with model years from 2022-2026, as well as 1,8
  
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• Bessent mocks Sen Warren, wishes her 'Happy Indigenous Peoples' Day' in response to letter

  11-10-2026 00:21 via foxbusiness.com
  
  FOX Business has exclusively obtained Treasury Secretary Scott Bessent’s response to Senator Elizabeth Warren’s latest letter about the rise in the 10-year treasury yield. "Happy Indigenous People's Day in advance to you and your family," Bessent handwrote at the end of his scathing letter, mocking her former claim of Native American heritage. The senator has sent more than 100 letters to the Treasury Department asking for information in the past 21 months.Bessent’s S
  
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• Stelco says Hamilton layoffs still happening despite Ottawa's threats of legal action

  10-10-2026 20:14 via cbc.ca
  
  Hamilton-based steelmaker Stelco says it will proceed with hundreds of layoffs, despite threats of legal action from the federal government.
  
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• Inside Silicon Valley's bet on a new path to landing a job in the AI era

  10-10-2026 18:00 via foxbusiness.com
  
  An artificial intelligence-focused academy backed by venture capital giant Andreessen Horowitz is betting that a new generation of tech workers may be better served building products and companies than following a traditional four-year college path.The Horowitz Andreessen Academy, a private, in-person program in San Francisco, is recruiting roughly 50 students for a tuition-free founding class fellowship beginning in fall 2027. The academy was incubated by Andreessen Horowitz, also known as a16z
  
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• AI photos are making it harder to know what you're booking on Airbnb. Here's what to look out for

  10-10-2026 10:00 via cbc.ca
  
  Josh Wells was excited to explore Montreal on his first trip outside the U.S. But as he scrolled through listings on Airbnb, he noticed something odd: Several host profile pictures and one listing had what appeared to be AI-generated pictures.
  
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• Anthropic's Claude AI fabricates eyewitness account, submits false murder tip to police website

  10-10-2026 04:29 via foxbusiness.com
  
  An artificial intelligence (AI) model developed by Anthropic submitted a false tip about an unsolved murder through a Philadelphia police website during an automated test.The Philadelphia Police Department said Anthropic notified authorities on Oct. 7 about the incident and explained that the submission resulted from an automated testing process."The tip was flagged as spam and was never forwarded to the Real-Time Crime Center for investigative vetting or dissemination," police said.The incident
  
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• Walmart recalls 4.4 million grill brushes over serious injury risk

  10-10-2026 00:03 via foxbusiness.com
  
  Millions of Walmart shoppers who purchased grill-cleaning brushes over the past five years are being urged to stop using them because tiny metal bristles could end up in their food and cause serious internal injuries.Walmart has recalled nearly 4.5 million Expert Grill brushes over concerns their wire bristles can break loose during cleaning and become lodged on grills or in food, potentially leading to injuries that require surgery, according to the U.S. Consumer Product Safety Commission (CPSC
  
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• Trump says Russia has agreed to deliver millions in diesel fuel after 'highly successful discussion'

  09-10-2026 23:08 via foxbusiness.com
  
  President Donald Trump announced Friday that Russian President Vladimir Putin agreed to "immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter."Trump said the agreement came after the two had a "highly successful discussion." He added on Truth Social, "Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short perio
  
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• Federal budget deficit hits $2T as national debt costs surge

  09-10-2026 21:24 via foxbusiness.com
  
  The federal government's budget deficit totaled $2 trillion in fiscal year 2026 as the cost of servicing the nation's more than $40 trillion national debt surged.The nonpartisan Congressional Budget Office (CBO) released data on Thursday showing the federal budget deficit rose to $1.993 trillion in fiscal year 2026, which concluded at the end of September.That figure represents a $218 billion increase from the $1.775 trillion deficit in fiscal year 2025, which amounts to an increase of 12%.While
  
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• Americans' retirement savings grow as more families participate in plans

  09-10-2026 20:27 via foxbusiness.com
  
  Americans stepped up their participation in retirement plans and saw their savings grow in recent years, a new analysis from the Federal Reserve finds.The Federal Reserve's Survey of Consumer Finances released a report on Friday detailing changes in U.S. family finances from 2022 to 2025 found that enrollment in retirement plans ticked up to 54.9% of families in 2025 – an increase of 0.6 percentage points since 2022.The conditional median value of retirement accounts rose 11% from 2022 to
  
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• Affordable starter homes are still a reality in these major US cities

  09-10-2026 19:30 via foxbusiness.com
  
  Starter homes have become increasingly scarce around the country relative to pre-pandemic inventory levels, though some metro areas around the country have a bigger supply for first-time home buyers.A new analysis by Realtor.com found that the national share of starter homes fell from 38.1% of active inventory in August 2019 to 36.2% in August 2026, while starter home prices rose 30.8% in that period from about $260,000 to $340,000.The report by Realtor.com senior economist Hannah Jones noted th
  
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• Trucking industry hit by string of bankruptcy filings as diesel costs surge

  09-10-2026 15:49 via foxbusiness.com
  
  A string of trucking and freight companies filed for bankruptcy in September as rising fuel, insurance and other operating costs squeeze an industry that plays a critical role in moving goods across the U.S.At least eight transportation-related companies sought Chapter 11 protection during the month, according to bankruptcy documents reviewed by FOX Business, with one trucking company owner pointing directly to diesel and insurance costs as factors behind his filing.Truckload LLC owner Marcus Ov
  
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• Shell to buy 30% stake in proposed Bay du Nord oil project off Newfoundland

  09-10-2026 15:03 via cbc.ca
  
  Equinor says it will retain a 70 per cent operating interest in the project, which would be the first deepwater oil development in Canada if it goes ahead.
  
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• Canadian economy lost 68,000 jobs in September, marking second straight month of surprise declines

  09-10-2026 14:42 via cbc.ca
  
  Before the two monthly declines, Statistics Canada data showed employment trending upward, with 181,000 jobs added between April and July. But losses in August and September snapped that hot streak.
  
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• Canadian economy lost 68,000 jobs in September, marking second straight month of declines

  09-10-2026 14:42 via cbc.ca
  
  Before the two monthly declines, Statistics Canada data showed employment trending upward, with 181,000 jobs added between April and July. But losses in August and September snapped that hot streak.
  
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• Canadian economy lost 68,000 jobs in September

  09-10-2026 14:42 via cbc.ca
  The decline marks a second straight month of job losses. Economists polled ahead of the release predicted employers added 9,200 positions in September.
  
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• Hershey changes Reese’s Pumpkins packaging after lawsuit over design

  09-10-2026 14:03 via foxbusiness.com
  
  The Hershey Co. has added a new disclaimer to Reese’s Peanut Butter Pumpkins following a legal battle over claims that images on the packaging did not match the actual candy.Packages of the seasonal treat now feature the words "Carving not on actual product" next to an image of the pumpkin-shaped Reese’s with jack-o'-lantern-style eyes and a mouth, according to product images on the official Hersheyland website.The disclaimer appears in small text on the front and back of the packagi
  
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• Behind closed doors in Palm Beach, a secret 'shadow' market hides $300M mega-mansions

  09-10-2026 12:30 via foxbusiness.com
  
  EXCLUSIVE: Tucked quietly away from the grandeur of Mar-a-Lago and the bustle of Worth Avenue lie homes worth hundreds of millions of dollars that are now part of a so-called "shadow" underground real estate market in Palm Beach."If somebody were to come to me today and say, ‘Hey, what else is available that's not outwardly seen?’ Within a few blocks of here, there is a house for $175 [million], $52 [million], $97 [million], $17 [million] and then heading up the coast you've got anot
  
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• Canada can't launch rockets on its own. A handful of companies want to change that

  09-10-2026 10:00 via cbc.ca
  
  Canada has long relied on its allies to get technologies like satellites into space. But as the cross-border relationship with the U.S. changes, a handful of companies — including the newest player, Canada Rocket Company — are trying to change that and capitalize on a growing market.
  
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• PepsiCo raising prices on Doritos, Ruffles, SunChips and some sodas after recent cuts

  09-10-2026 09:57 via foxbusiness.com
  
  PepsiCo is raising prices on some of its popular chips and sodas, including Doritos, Ruffles and SunChips, just months after cutting prices in an effort to win back inflation-weary shoppers.The company said prices on certain snacks and drinks will rise by single-digit percentages as it deals with higher costs for fuel, aluminum and agricultural supplies, according to the New York Post.However, the company said the new prices will still be lower than they were at the beginning of the year.The pri
  
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• Lyft agrees to $272 million settlement over California wage theft claims

  09-10-2026 04:50 via foxbusiness.com
  
  Lyft has agreed to pay $272.5 million to settle claims that it committed wage theft against California drivers in the six-year lawsuit the Golden State brought against the rideshare company.California Attorney General Rob Bonta and the city attorneys of Los Angeles, San Diego and San Francisco sued Lyft in 2020 on allegations the company misclassified drivers as independent contractors between 2016 and 2020, meaning drivers were paid well below minimum wage and denied other workplace protections
  
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• Canadian investor, philanthropist Stephen Jarislowsky dies at age 101

  08-10-2026 22:14 via cbc.ca
  
  Canadian investment manager, ethical business proponent and philanthropist Stephen Jarislowsky has died. He was 101.
  
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• Jeff Bezos says socialism gains traction because of 'real affordability problems,' lack of real solutions

  08-10-2026 22:07 via foxbusiness.com
  
  Amazon and Blue Origin founder Jeff Bezos explained in an interview on Wednesday why he thinks socialism is gaining traction among some politicians and voters, and what he thinks they're getting wrong.Bezos spoke on the factory floor of Blue Origin's Space Coast facility with Fox News' Bret Baier in an interview that aired on "Special Report" and was asked about the factors driving some to embrace socialism."One, we do have real affordability problems. So people look at the cost of housing, for
  
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• Will Ottawa really take Stelco to court? Here's what happened last time

  08-10-2026 20:32 via cbc.ca
  
  Stelco Holdings has days to share a plan to save hundreds of Ontario steel workers from layoffs already underway — orit risks legal actionfrom the Canadian government. The clock is ticking on what lawyers say is a test of how foreign investors are held to account as Prime Minister Mark Carney seeks to lure more of them to Canada amid a bitter trade war with the United States.
  
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• Why millions of seniors are getting checks from the government

  08-10-2026 19:45 via foxbusiness.com
  
  Millions of Americans enrolled in Medicare are receiving $90 payments from the federal government this month as part of a Trump administration initiative to help offset health care costs.More than 20 million Medicare beneficiaries are eligible for the one-time payments, with most expected to receive the money through direct deposit on or around Oct. 8, according to the Centers for Medicare & Medicaid Services (CMS).President Donald Trump announced the payments Oct. 2 to help seniors cover Me
  
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• Mortgage rates rise for seventh straight week, squeezing homebuyers

  08-10-2026 18:23 via foxbusiness.com
  
  Mortgage rates rose for the seventh straight week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 7.4% from last week's reading of 7.28%.The average rate on a 30-year loan was 6.3% a year ago.BABY BOOMERS ARE POISED TO UNLEASH MILLIONS OF HOMES — BUT THERE'S A CATCH FOR FIRST-TIME BUYERS"This increase comes amid continued upward pressure from the 10-year
  
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• California leads nation in Gen Z exodus as young residents flock to Texas

  08-10-2026 17:26 via foxbusiness.com
  
  A new report by LendingTree finds that almost 11 million Gen Z adults, or about one-in-four, moved across state lines in 2024, according to the latest Census Bureau data.The data showed that an estimated 10.7 million of 44.6 million Gen Z adults, or 23.9% of that generation, moved to a different state or the District of Columbia in 2024. That figure is a far higher share than for any age group, with Millennials the closest at 14%, followed by Gen X at 7.2%, and Baby Boomers at 5.2%.South Carolin
  
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• Vance suspends Microsoft, others from foreign workers applying for green cards, alleges visa 'abuse'

  08-10-2026 16:45 via foxbusiness.com
  
  Vice President JD Vance and Labor Department officials announced Thursday that the Trump administration is suspending Microsoft, Adobe and others from a key employment-based green-card program, accusing major tech firms and outsourcing companies of abusing the visa system at the expense of American workers."There has been no company in the United States, unfortunately, that has abused the system more than Microsoft," Vance said at a news conference on H-1B and J-1 visa fraud, noting the administ
  
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• Amazon to cut nearly 1,000 white-collar jobs across stores division and other units: report

  08-10-2026 10:54 via foxbusiness.com
  
  Amazon is cutting fewer than 1,000 white-collar jobs, mainly in its stores division, which oversees the company's main e-commerce website, according to Reuters.The reported cuts come as Amazon wraps up its October Prime Big Deal Days sales event, which ran Tuesday and Wednesday.The downsizing follows a series of larger layoffs totaling roughly 30,000 jobs that began last year and continued into January.A person familiar with the matter told Reuters that the latest round of layoffs would affect f
  
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• Layoffs at Stelco underway, and will roll out over 3 weeks, says union president

  08-10-2026 10:00 via cbc.ca
  
  Layoffs at Hamilton's Stelco steel plant are underway and are expected to roll out over three weeks, says a union leader, noting that not all workers have been formally notified, but "people have a general idea" of whether or not their job is on the line.
  
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