Business news

• Quantum computing could help US reduce reliance on China's rare earth supply chain, tech CEO says

  26-09-2026 05:57 via foxbusiness.com
  
  Quantum computing could give the U.S. and its allies a new tool in their effort to reduce reliance on China for critical rare earth elements, with one technology company betting the emerging technology can make extracting and processing limited Western supplies more efficient.Pasqal is partnering with USA Rare Earth and Riven Systems to explore how quantum computing, artificial intelligence and rapid chemical testing can improve the separation and processing of rare earth elements.Pasqal CEO Was
  
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• Retail headwinds force women’s apparel giant Cato to close dozens of locations

  25-09-2026 23:07 via foxbusiness.com
  
  A women's apparel company that caters to price-conscious consumers announced the closure of 120 retail stores by the end of the fiscal year.The Cato Corporation, parent company of Cato Fashions, operates more than 1,000 women’s apparel and accessories stores across 31 states. The slated closures account for more than 10% of its stores, Fast Company reported.Cato, which was founded in 1946, focuses on budget-wary consumers, much like TJ Maxx or Ross Dress for Less.WALMART SAYS IT WILL
  
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• Tesla begins delivering Semi trucks to customers after years of delays

  25-09-2026 22:32 via foxbusiness.com
  
  Tesla on Thursday announced that the electric vehicle maker was beginning deliveries of its Semi trucks to customers this week.Executives at Tesla's plant in Sparks, Nevada, made the announcement that the first customers will take delivery of the electric big rigs about nine years after CEO Elon Musk first announced the company's plans to develop the long-haul freight trucks.The Semi aims to open a new market for Tesla, which has long been known for its EV sedans and SUVs, by creating an electri
  
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• IRS steps up fraud fight with new app, CEO promises '100% secure' platform

  25-09-2026 20:55 via foxbusiness.com
  
  The IRS launched a new mobile app that will let taxpayers check refund statuses and make payments directly from their phones, expanding the agency's digital services as it works to combat fraud and protect taxpayer information.IRS CEO Frank Bisignano joined FOX Business' Stuart Varney on "Varney & Co." to discuss the app's security, growing demand for online services and the agency's efforts to combat identity theft."100%, 100% secure," Bisignano said of the new app, which will allow taxpaye
  
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• Costco receives $184M in tariff refunds, says most will go toward lower prices

  25-09-2026 20:24 via foxbusiness.com
  
  Costco on Thursday said it received $184 million in tariff refunds in the company's fourth quarter, the majority of which was reinvested into lower pricing for members shopping at the retail giant's warehouses.The big box retailer said the lower pricing from tariff refunds was applied to a range of everyday items, including food and beverages, as well as other product categories.Costco CEO Ron Vachris said on the company's earnings call that the company "received some initial tariff refunds in t
  
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• Breakfast chain franchisee files for bankruptcy as rising costs, weak sales weigh

  25-09-2026 19:14 via foxbusiness.com
  
  The operator of a Village Inn restaurant in Oldsmar, Florida, has filed for Chapter 11 bankruptcy protection after reporting more than $554,000 in liabilities, according to court filings obtained by FOX Business.VI Oldsmar LLC filed its Chapter 11 petition in the U.S. Bankruptcy Court for the Middle District of Florida on Sept. 18, electing to proceed under Subchapter V, which is a streamlined bankruptcy process for qualifying small businesses.Court filings show the company listed about $72,335
  
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• Justice Department under Trump asks EU to scrap $137M US fine for Elon Musk's X

  25-09-2026 18:57 via cbc.ca
  
  The European Union's executive arm said Friday it's prepared to defend a 120 million euro ($137 million US) fine against the social media platform X after the U.S. government threw its support behind a legal effort by Elon Musk this week to have the case dismissed.
  
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• Top AI companies call for safety measures while critics warn regulation could stifle innovation

  25-09-2026 16:29 via foxbusiness.com
  
  Leading developers of artificial intelligence (AI) are raising concerns about the need to ensure the safety and alignment of cutting-edge frontier models as they become more capable.OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Microsoft have all signaled a focus on safety issues related to developing frontier AI models to ensure that they're aligned with serving humanity.Those calls come amid warnings from AI researchers that there's a chance that AI could wipe out humanity within the n
  
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• The housing game is 'rigged': Real estate star exposes the hidden traps locking up buyers past 7% rates

  25-09-2026 12:00 via foxbusiness.com
  
  American homebuyers battling elevated interest rates and high listing prices are confronting a far broader financial hurdle: a hidden "obstacle course" of property taxes, rising insurance premiums and local regulatory friction.Beyond headline mortgage rates, rising monthly carrying costs in high-growth states are increasingly influencing where families can afford to settle, according to SERHANT. founder and real estate star Ryan Serhant."New York taught me that real estate is a function of price
  
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• AI expert warns ‘machine-speed’ cyberthreats may require faster defenses than human-led responses

  25-09-2026 11:14 via foxbusiness.com
  
  Artificial intelligence is changing cyberattacks from the work of individual hackers into coordinated operations potentially involving hundreds of autonomous agents, creating a speed problem that traditional human-led cybersecurity systems may struggle to match, according to AI cybersecurity expert Yagub Rahimov.Rahimov, founder and CEO of Polygraf AI, told FOX Business that the emergence of so-called "AI swarms" doesn't necessarily mean a cyber doomsday is imminent, but said organizations need
  
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• The 1990s boy band mall tour is back, and this time it's sponsored by Gap

  25-09-2026 10:00 via cbc.ca
  
  Remember when you could hit up your local suburban mall, catch a show from a pop star next to the food court and buy a new zip-up while you were at it? History is repeating itself.On Tuesday, Gap announced it was launching a collaboration with emerging boyband Just Your Type for its “fashiontainment platform.”
  
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• AI 'slop' is dominating menus, as some restaurant owners turn to it to save time and money

  25-09-2026 10:00 via cbc.ca
  
  Diners have taken to social media to share photos of overly-shiny sandwiches and circular shrimp, lamenting the suspected use of AI. But some in the restaurant business say it's helped them reduce costs and save time in a notoriously difficult industry.
  
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• Former Secret Service cybercrime expert weighs in on privacy after hackers breach stolen Flock camera

  25-09-2026 08:28 via foxbusiness.com
  
  A stolen Flock Safety license-plate camera yielded roughly 1.6 million images after hackers physically removed and reverse-engineered the device, but a former Secret Service cybercrime expert says the incident does not appear to have compromised Flock's broader cloud network.Jason Brown, director of customer advisory and counter-fraud lead at threat intelligence firm iCOUNTER, spent 25 years with the U.S. Secret Service and specialized in cybercrime.Brown told FOX Business that the distinction b
  
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• If Trump bans U.S. diesel exports, global prices will go even higher, experts say

  25-09-2026 00:55 via cbc.ca
  
  U.S. President Donald Trump has said he's considering a ban on diesel exports to improve gas prices for Americans, a move experts say would only push an already-strained global market —further raising diesel prices in Canada and abroad.
  
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• Reducing the $2T federal deficit could lower inflation, interest rates for Americans: CRFB

  25-09-2026 00:21 via foxbusiness.com
  
  Curbing the federal government's roughly $2 trillion budget deficit would help reduce the affordability challenges American households are facing, a new analysis finds.The nonpartisan Committee for a Responsible Federal Budget (CRFB) published a report on Wednesday detailing how reducing the federal budget deficit over both the near- and long-term could improve affordability issues for Americans through fiscal policy changes involving tax and spending policies.CRFB finds that reducing the defici
  
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• LARRY KUDLOW: Netanyahu’s barn burner of a speech makes the case for moral clarity against antisemitism

  24-09-2026 23:32 via foxbusiness.com
  
  Prime Minister Benjamin Netanyahu stood at the podium of the United Nations General Assembly hall and absolutely tore into all of the multiplying progenitors of antisemitism around the world. He jumped right in by calling out UN members that walked out ahead of his speech. "Before I begin, just a quick announcement. If there are any other moral cowards who haven’t yet left this hall, please do so now."By the way, a lot of moral cowards left, but a lot of people with moral backbones stayed
  
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• Lowe's partners with DoorDash, Alphabet's Wing Aviation on drone delivery service

  24-09-2026 21:36 via foxbusiness.com
  
  Lowe's announced Thursday that it is rolling out a drone delivery pilot in North Carolina, saying it is the first home improvement retailer to offer shoppers the service.The pilot is now live at a Lowe's store in Matthews, North Carolina, where eligible customers can order select products through the DoorDash app for delivery by Alphabet-owned Wing drones in as little as 20 minutes, according to an announcement from the company."At Lowe's, our mission is to solve problems and fulfill dreams for
  
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• Banks warn AI shopping agents could increase risk of scams, fraud and data privacy breaches

  24-09-2026 20:59 via foxbusiness.com
  
  Banks are warning that using artificial intelligence (AI) agents for online shopping could increase the risk of scams, fraud and data privacy breaches affecting consumers.The warning was issued in a report by a group of banks including Bank of America, Capital One, the UK's NatWest, New Zealand's ASB Bank, and Commonwealth Bank of Australia and cautioned that despite enthusiasm about the potential for AI shopping agents, the tech risks outpacing consumer protections and industry standards."Consu
  
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• CEO warns high diesel costs could trigger a 'vicious cycle' of surging food prices

  24-09-2026 20:35 via foxbusiness.com
  
  Record-high diesel prices are squeezing American farmers during harvest season, raising the risk that higher production costs could eventually hit consumers at the grocery store.Pivot Bio CEO Chris Abbott joined FOX Business’ Taylor Riggs on "Mornings with FOX Business" to discuss how rising diesel and fertilizer costs are pressuring farmers and threatening to push food prices higher.Diesel prices have climbed to a national average of $6.51 per gallon as global supply disruptions tied to c
  
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• Canadian business leader warns trade uncertainty risks 'capital chill' as USMCA talks drag on

  24-09-2026 19:55 via foxbusiness.com
  
  Canada's push to expand its economic relationships around the world should not be mistaken for a retreat from the U.S., a leading Canadian business voice told FOX Business, warning that continued uncertainty over North American trade risks creating a "capital chill" that could weigh on investment.Goldy Hyder, president and CEO of the Business Council of Canada, said Canadian companies continue to view the U.S. as their most important market even as Prime Minister Mark Carney's government acceler
  
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• Volkswagen subsidiary delays opening of $7B St. Thomas, Ont., battery plant to 2029

  24-09-2026 18:30 via cbc.ca
  
  PowerCo, the Volkswagen subsidiary building a $7-billion electric vehicle battery plant in St. Thomas, Ont., says the facility is now expected to begin operations in 2029, two years later than originally planned.
  
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• Mortgage rates top 7% for first time since early 2025

  24-09-2026 18:11 via foxbusiness.com
  
  Mortgage rates rose to more than 7% for the first time since January 2025, 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 7.03% from last week's reading of 6.95%.The average rate on a 30-year loan was 6.3% a year ago.The average rate on a 15-year fixed mortgage climbed to 6.42% from last week's reading of 6.26%.AMERICA'S BEST AND WORST CITIES FOR HOUSING AFFOR
  
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• Peter Schiff predicts economic 'downturn,' higher oil prices: 'I don't think it's over'

  24-09-2026 17:23 via foxbusiness.com
  
  Oil prices will rise even higher regardless of whether the Iran war ends, U.S. economic and political commentator Peter Schiff predicted during an interview with Fox News Digital on Wednesday, noting that he expects an economic "downturn."Schiff, chief economist and global strategist of Euro Pacific Asset Management and host of "The Peter Schiff Show" podcast, described the elevated prices as "a tax on the economy," opining, "I don't think it's over.""I think oil prices are headed significantly
  
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• Sobeys' parent Empire agrees to end property controls after battle with Competition Bureau

  24-09-2026 16:04 via cbc.ca
  
  Canada's Competition Bureau has reached anagreementwith Sobey's parent company to have the grocery giant strictly limit or stop using property controls after the agency found the practice to be anti-competitive.
  
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• Sobeys parent Empire agrees to end property controls after battle with Competition Bureau

  24-09-2026 16:04 via cbc.ca
  
  Canada's Competition Bureau has reached anagreementwith Sobey's parent company to have the grocery giant strictly limit or stop using property controls after the agency found the practice to be anti-competitive.
  
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• Starbucks to close 250 stores: 'Difficult decision'

  24-09-2026 14:11 via foxbusiness.com
  
  Starbucks announced plans to close roughly 250 stores across North America this week, company COO Mike Grams revealed Thursday.Grams announced the closure in a public statement, saying that while most of its 18,000 North American stores were profitable, a small portion has been struggling."We have carefully reviewed our North America coffeehouse portfolio and identified locations where we do not believe we can consistently deliver the experience we want for customers and partners or where we don
  
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• Google partners with veterans groups to help 25,000 enter skilled trades careers amid worker shortage

  24-09-2026 14:02 via foxbusiness.com
  
  Exclusive: Google on Thursday announced a new initiative to partner with veterans groups to help 25,000 veterans, service members and military spouses enter the skilled trades, according to an announcement viewed by FOX Business.Google's announcement will feature a partnership with several prominent organizations that serve veterans around the nation, including Hiring Our Heroes, Student Veterans of America and the Home Builders Institute.The move comes against the backdrop of a shortage of work
  
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• Bank of America to hire 1,000 more apprentices, invest $150M in workforce development

  24-09-2026 11:00 via foxbusiness.com
  
  Bank of America is expanding its skills-based hiring efforts, announcing Thursday that it will hire 1,000 additional apprentices over the next two years while investing $150 million in workforce development programs.The Charlotte, North Carolina-based bank said the new apprenticeship positions will span consumer banking, technology, operations and other business areas, building on the more than 800 apprentices it already hires each year through paid work-based learning programs."This is one more
  
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• U.S.-China summit highlights the 'hypocrisy' of American trade policy, experts say

  24-09-2026 10:00 via cbc.ca
  
  American officials have scolded Canada for making a deal with China. But the numbers show the U.S. does vastly more business with China than Canada would possibly dream of.
  
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• Tesla Full Self-Driving repeatedly exceeded speed limits, attempted prohibited cyclist passes in Belgium test

  24-09-2026 03:57 via foxbusiness.com
  
  Tesla's Full Self-Driving system frequently exceeded speed limits and attempted to pass cyclists where overtaking is prohibited during testing conducted over hundreds of miles in Belgium by a road-safety advocacy group.Belgian pedestrian and cyclist safety group Johanna.be tested FSD over three days in July, covering roughly 400 kilometers, or 249 miles, according to Reuters.The group said it found repeated problems in 20 km/h and 30 km/h zones, including the system displaying incorrect speed li
  
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