Business news

• People have chosen lower-cost items they buy online: report

  10-05-2024 00:12 via foxbusiness.com
  
  Shoppers have been trading down in online purchases.That was what Adobe Analytics said Thursday in a report that also showed online spending in the fourth-month period spanning January to April hit $331.6 billion in what represented a 7% year-over-year increase.Its data indicated goods on the lower-cost end in categories like personal care, electronics, apparel, home/garden, furniture/bedding and grocery have been increasingly favored by online shoppers.Adobe said its findings about trade-downs
  
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• Teens are 'seeing opportunities' as declining employment trend reverses: 'Generations' author

  02-06-2024 13:00 via foxbusiness.com
  
  Teen employment is on the up and up, according to one San Diego State University psychology professor. "It's a strong job market out there for people who want to work hard, and so teens are seeing that," "Generations" author Jean Twenge said during an interview on FOX Business' "The Big Money Show."Teens are "seeing opportunities" in the labor market due to labor shortages and they are filling roles where they are qualified, she said. Following a decline, the labor participation rate f
  
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• Why is gas more expensive in the summer? Competition, logistics — and the blend

  02-06-2024 10:00 via cbc.ca
  
  When the weather warms up, we don't just change our wardrobe. The gas drivers change their tanks with also switches to a different, pricier blend.
  
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• 'Real Housewives' stars Sonja Morgan, Kim Zolciak dealt a blow over luxury homes

  02-06-2024 10:00 via foxbusiness.com
  
  "Real Housewives of New York" star Sonja Morgan recently sold her coveted Upper East Side townhouse through an auction more than 10 years after listing the property following a bitter divorce with J.P. Morgan heir John Morgan.While Morgan's decade-long real estate plight is coming to a close, former "Real Housewives of Atlanta" star Kim Zolciak is stuck in the middle of her own mansion mayhem with the looming foreclosure of her Atlanta home.We take a look at a few Bravo-lebrities who have faced
  
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• Trendy Poppi prebiotic soda not as 'gut healthy' as it claims, lawsuit alleges

  02-06-2024 00:30 via foxbusiness.com
  
  A lawsuit filed against the wildly popular "Shark Tank" phenomenon, Poppi prebiotic soda, alleges that the drink was not as "gut healthy" as it’s advertised to be.Plaintiff Kristin Cobbs of San Francisco filed the class action lawsuit Wednesday on behalf of herself and "similarly situated" consumers of Poppi against the parent company, VNGR Beverage LLC, which is based in Austin, Texas.Poppi has quickly climbed the ranks in the beverage world — capitalizing on relevant marketing and
  
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• Pennsylvania man buying supplies for a party wins big in Maryland lottery

  01-06-2024 23:37 via foxbusiness.com
  
  A man from Pennsylvania turned a pit stop in Maryland into quite the payoff when he won more than $160,000 in the lottery. "I had Memorial Day on my mind as I was driving through Laurel," the man, a financial planner from Philadelphia, told the Maryland Lottery in a May 31 news article posted on their website. Laurel is located between Washington, D.C., and Baltimore. MEGA MILLIONS JACKPOT RISES TO $560 MILLION AFTER NO GRAND PRIZE WINNEROn that day, May 23, the man remembered tha
  
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• Lamar Jackson's decision to skip Ravens' voluntary OTAs costing him major payday: report

  01-06-2024 22:51 via foxbusiness.com
  
  Lamar Jackson enters the 2024 season with the pressure on him to get the Baltimore Ravens to another Super Bowl title mounting as the days trickle down to kickoff.Jackson appeared to take more time for himself in the offseason as he decided to skip voluntary organized team activities (OTAs) to end the month of May, but the decision was reportedly a costly one.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMThe reigning NFL MVP has an offseason workout bonus in his contract to the tune of $
  
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• American Airlines kicks off D-Day 80th anniversary trip for World War II veterans to Normandy

  01-06-2024 21:07 via foxbusiness.com
  
  American Airlines kicked off its D-Day 80th anniversary trip to Normandy, France, with 70 World War II veterans on Friday at Dallas Fort Worth International Airport.The veterans enjoyed a kickoff dinner Thursday night at American Airlines headquarters in Forth Worth, Texas, before their AA flight to Paris, and took part in a parade to the airport on Friday afternoon.The veterans were sent off with an address from actor and founder of the partnering group, Gary Sinise of the Gary Sinise Foundatio
  
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• Gin made from England-sourced honey available in US following global spirit distributor's acquisition

  01-06-2024 20:10 via foxbusiness.com
  
  A gin brand in England is introducing its local honey-infused booze to U.S. markets around the country following its acquisition by a global family-owned spirits distributor.Silent Pool Gin is crafted from 24 botanicals and locally sourced honey right from the distillery's backyard dwellings. The inspiration for the craft product — the historical and mystical spring-fed lake Silent Pool — sits behind the distillery, and the first series of bottles was revealed by the brand in 2015.Wh
  
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• Ticketmaster owner Live Nation confirms data breach

  01-06-2024 17:34 via cbc.ca
  
  Live Nation Entertainment says it's investigating a data breach at its Ticketmaster unit, the latest in a string of high-profile corporate hacks in the past year.
  
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• See it: Porsche unveils new 911 hybrid

  01-06-2024 15:00 via foxbusiness.com
  
  German automaker Porsche on Tuesday unveiled the new 911 Carrera GTS which is the first street-legal 911 that uses a hybrid powertrain.The hybrid sports car features a lightweight T-Hybrid system that features a newly-developed electric exhaust gas turbocharger, which was designed based on knowledge from motor racing. The integrated electric motor, which is between the compressor and turbine wheel, brings the turbocharger up to speed instantaneously and builds up boost pressure, while also
  
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• Elon Musk accused of $7.5 billion insider trading in lawsuit from Tesla shareholder

  01-06-2024 13:19 via foxbusiness.com
  
  Tesla CEO Elon Musk was accused of insider trading in a lawsuit filed Thursday by a Tesla shareholder in Delaware Chancery Court.Shareholder Michael Perry claims in the filing that Musk sold over $7.5 billion of shares of his electric car company in late 2022 before potentially disappointing production and delivery numbers were made public. Perry said Tesla's stock took a nose dive after the company's fourth-quarter numbers went public on Jan. 2, 2023, and claimed that Musk "improperly bene
  
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• Mega Millions jackpot rises to $560 million after no grand prize winner

  01-06-2024 10:04 via foxbusiness.com
  
  The Mega Millions jackpot increased to an estimated $560 million after no tickets matched the winning numbers during Friday night's drawing.The winning numbers drawn on Friday were 4, 11, 23, 33 and 49 with a Mega ball of 23. The Megaplier was 4X.Nobody won the estimated $522 million jackpot Friday night, but one player in California matched all five white balls — and minus the Mega ball — to win $1 million.MEGA MILLIONS JACKPOT GROWS TO $489 MILLION AFTER NO GRAND PRIZE WINNERThe ne
  
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• Washington educator wins $200,000 jackpot after Teacher Appreciation Week

  01-06-2024 01:15 via foxbusiness.com
  
  Each year, "Teacher Appreciation Week" is observed during the month of May — and for one preschool teacher in Washington state, her "appreciation" came in the form of some good luck from the universe. A resident of Edmonds, Washington identified only as "J.C." stopped at a Safeway grocery store on May 11 to get coffee with her mother before a day of running errands, Washington's Lottery said in a May 31 press release. Edmonds is north of Seattle.KENTUCKY FATHER AND DAUGHTER BOTH
  
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• Romance Writers of America files for bankruptcy amid racism spat, with $3M in hotel debt

  01-06-2024 01:14 via foxbusiness.com
  
  Hang up the ripped bodices, give Fabio the bad news and cue the lawyers: the Romance Writers of America, a nonprofit devoted to helping romance writers build their careers, is headed to bankruptcy court.As with so many affairs of the heart, trouble started in a hotel, or more precisely with hotel bills for the organization's flagship annual conference, which the group said it could not pay in its bankruptcy filing on Wednesday in Houston, Texas.RWA membership has declined sharply due to recent c
  
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• Pfizer sees lung cancer drug topping $1 billion in sales following impressive 5-year data

  01-06-2024 00:46 via foxbusiness.com
  
  Pfizer said it expects its cancer drug Lorbrena to top $1 billion in annual sales by 2030 on the strength of data presented on Friday showing most patients treated for a rare form of advanced lung cancer in a clinical trial were alive without the disease worsening after five years.Lorbrena, like Pfizer's Xalkori, is designed to treat cancer with a mutation of a specific gene called anaplastic lymphoma kinase, or ALK.Sixty percent of ALK-positive patients with advanced lung cancer who were treate
  
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• Trump Media shares volatile after historic conviction

  31-05-2024 23:19 via foxbusiness.com
  
  Shares of Trump Media and Technology Group, the parent of former President Trump's Truth Social, bounced between gains and losses in early trading on Friday after a jury found the former president guilty on all 34 counts in a criminal hush money trial. Trump Media shares are up more than 7% this week. Broader stocks were marginally higher.Manhattan District Attorney Alvin Bragg charged Trump with falsifying business records in the first degree. Trump pleaded not guilty to all counts but was
  
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• Trump’s conviction, stocks May rally, oil merger mania, Costco's update

  31-05-2024 22:56 via foxbusiness.com
  
  -Former President Trump's historic conviction -Stocks end the month of May on a high note -The Fed's preferred measure of inflation released -Oil patch sees more merger mania -Disney CEO Bob Iger receives good news -Costco clears up speculation over its popular food combo deal -McDonald's pushes back on price-hike backlash -A major U.S. grocer with 400 locations is shutting some of its stores THE VERDICT: A New York City jury convicted the former President
  
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• San Francisco's Anchor Brewing, once left for dead, purchased by Chobani founder

  31-05-2024 22:41 via foxbusiness.com
  
  San Francisco's Anchor Brewing Co., which shut down last summer after 127 years in business, is being resurrected.Chobani CEO and founder Hamdi Ulukaya purchased the brand and all its property Friday for an undisclosed amount and promises to restore it to its former glory.The Turkish billionaire said in a video message announcing the move he first heard of Anchor last year when news broke it was closing, and he decided to visit San Francisco to check it out."It wasn't until I came across this ar
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $34,609,796,817,427.65 as of 5/31/24

  31-05-2024 22:34 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 — increased to $34,609,796,817,427.65 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $11 billion from the figure reported the previous day.By comparison, just four decades ago, the national
  
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• Gas prices dropped by more than they have all year as after-holiday demand dips

  31-05-2024 20:59 via foxbusiness.com
  
  Consumers are paying less at the pump this week as average gas prices dropped by five cents, a AAA report found. The average gallon of gas now costs $3.56.This week’s drop was the largest the country has seen this year. Demand dropped this past week — largely due to the after-Memorial Day lull — contributing to lowering gas prices."Gas prices will likely keep up this slow sag now that we are past the Memorial Day travel weekend and more locations, east of the Rockies, will be s
  
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• Trump conviction will kick off 'war of weaponization' of US justice system, warns Alan Dershowitz

  31-05-2024 20:30 via foxbusiness.com
  
  Harvard Law professor emeritus Alan Dershowitz said Friday that a Manhattan jury "failed" after the conviction of former President Trump on 34 charges of falsifying business records."My big disappointment is with the jury. Juries are supposed to be a check and balance on the excesses of prosecutors and judges. This jury failed its role of checking and balancing these excesses," Dershowitz said Friday on "Mornings with Maria." A New York jury found former Trump guilty of 34 felony counts of
  
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• Costco gives update on $1.50 hot dog, soda combo staple

  31-05-2024 19:10 via foxbusiness.com
  
  Costco customers do not need to worry about the price of the wholesale club's popular $1.50 hot dog and drink deal going up anytime soon, the company's new finance chief assured investors this week.CFO Gary Millerchip addressed the budget-friendly combo's fate practically right out of the gate during his first quarterly earnings call on Thursday, after replacing recently retired Richard Galanti, who spent decades in the role."While I can't promise to be able to match the humor that Richard Galan
  
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• College graduation gift money: Experts reveal whether to spend it or save it, and why

  31-05-2024 19:08 via foxbusiness.com
  
  Millions of American young adults are graduating from college this season and beginning the next chapters of their lives.The ceremonial celebrations of graduations often come with receiving gifts of congratulations from family and friends. Many gifts are money.New grads may be tempted to spend their gift money — but is there a better strategy to invest or bank this money for future use? HATE JOB INTERVIEWS? NEW BOOK PROMISES LIGHTER, BRIGHTER CAREER PROCESS FOR ‘VERY BEST STUFF&
  
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• Billionaire CEO, real estate investor on impact of Trump verdict: 'Nobody wants to do business' in NYC

  31-05-2024 17:36 via foxbusiness.com
  
  Prominent business executives have warned that more New York enterprises and their leaders may fall victim to "no rule of law" in the wake of Donald Trump’s guilty verdict."If they can do this to a business person like Donald Trump, they could do it to anybody in New York and a lot of businesses. A lot of people are concerned that there is no rule of law," billionaire CEO John Catsimatidis said Friday on "Mornings with Maria.""If they can do this to Donald Trump, a former president, regard
  
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• Medline recalls 1.5M adult bed rails after 2 deaths

  31-05-2024 16:18 via foxbusiness.com
  
  More than 1 million adult bed rails are being recalled in the U.S. and Canada after two reported deaths associated with the product, safety regulators said. On Thursday, the Consumer Product Safety Commission (CPSC) and Medline Industries LP jointly announced that two models of Bed Assist Bar adult portable bed rails are being recalled because they pose a risk of entrapment and asphyxia. "When the recalled bed rails are attached to an adult’s bed, users can become entrapped withi
  
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• Canada's GDP grew less than expected. Will a rate cut follow?

  31-05-2024 15:48 via cbc.ca
  
  Statistics Canada says spending by Canadian households helped the economy grow at an annualized rate of 1.7 per cent in the first three months of the year.
  
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• Canada's GDP grew by 1.7% in 1st quarter

  31-05-2024 15:48 via cbc.ca
  
  Statistics Canada says spending by Canadian households helped the economy grow at an annualized rate of 1.7 per cent in the first three months of the year.
  
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• Business leaders speak out about Trump guilty verdict, with one immediately donating $300K

  31-05-2024 14:06 via foxbusiness.com
  
  Business leaders sounded off following former President Trump's conviction in his New York criminal trial.Billionaire Elon Musk and other mega-wealthy Americans threw their support behind Trump after the verdict came down on Thursday, with one donating $300,000 alone."I just donated $300k to Trump. I’m prepared to lose friends. Here’s why," Sequoia founder Shaun Maguire wrote in an extended post on X."Back in 2016 I had drunk the media Kool-Aid and was scared out of my mind about Tru
  
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• Model Karolina Kurková lists Fisher Island home for nearly $7M

  31-05-2024 14:00 via foxbusiness.com
  
  Karolína Kurková is ready to say goodbye to her private island home.The model and actress recently listed her home on Fisher Island, a private island off the coast of Florida, for $6.9 million. She first moved to the island 12 years ago with her husband, and two of her three children were born there. "Fisher allows me to recharge, while providing a level of freedom and independence to our boys," she told The New York Post in December 2017 about her decision to move there.Refer
  
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