Business news

• Stocks jump, DOGE gets to work and Walmart talks tariffs

  23-11-2024 01:52 via foxbusiness.com
  
  - While President-elect Trump is busy building his cabinet, the DOGE team is already hard at work - Wall Street CEO gets nod for commerce secretary, treasury favorite picked after tight race  - Bitcoin nears $100K as U.S. stocks wrap up a winning week, along with big gains for gold - Nvidia CEO tells FOX Business why his company is dominating the AI race - Tariffs are just talk right now, but Walmart and TJX, owner of Marshalls and TJ Max, are telling customers what to expect
  
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• Feds announce $100M program to cover 50% of shipping steel in Canada by rail and water

  10-08-2026 17:28 via cbc.ca
  
  The federal government is pumping $100 million into Canada's steel industry with a new program that will pay for half the costs of transporting Canadian-made steel by ship or by rail within the country.
  
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• Meta launches new AI model as Zuckerberg lays out vision for open-weight AI

  10-08-2026 15:37 via cbc.ca
  
  The tech giant released a new open-weight AI model on Monday, along with an essay from Mark Zuckerberg saying lower barriers are needed for open-weight tech in order for U.S. models to compete with Chinese ones. The letter is the most recent show of support for open-weight models after a letter from top tech firms late last month, and comes after a Chinese open-weight model was used to contain an AI test gone wrong.
  
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• Unifor, General Motors to begin contract negotiation talks today

  10-08-2026 12:31 via cbc.ca
  
  Unifor, the union that represents more than 4,600 members at Ontario GM facilities, is set to begin contract negotiations with General Motors today.
  
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• Verizon suffers outage in 'some parts of the US' with thousands of reports

  08-08-2026 23:25 via foxbusiness.com
  
  Verizon experienced an outage Saturday afternoon, with Downdetector showing more than 12,000 reports by 4:25 p.m. ET."We are aware of an issue impacting voice services for wireless customers in some parts of the U.S.," the company confirmed to FOX Business. "Our engineers are engaged, and we are working quickly to identify and resolve the issue."Verizon asked customers to look up their status on their Check Network Status page for updates on service."VERIZON LAUNCHES SIMPLER PLANS AND NEW LOYALT
  
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• Auto loan refinancing: How it works and when it could save you money

  08-08-2026 19:30 via foxbusiness.com
  
  Household affordability challenges are leading some consumers to consider refinancing their auto loans to save money on monthly payments.Stephanie Roberts, director of auto products at PenFed Credit Union, told FOX Business that expanded access to credit terms has allowed consumers to more easily check the rates available to them as they consider refinancing."I think consumers from a credit education standpoint are more educated than ever on the health of their credit, so they're taking out thos
  
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• Billions are pouring into a Medicaid therapy for children, sparking fraud questions

  08-08-2026 14:26 via foxbusiness.com
  
  Medicaid spending on a top autism therapy has surged past $5 billion, drawing scrutiny over fraud and how taxpayer dollars are being spent.Applied Behavior Analysis (ABA), one of the most common treatments for children with autism, uses structured, one-on-one sessions to build communication and social and daily living skills. Between 2018 and 2024, Medicaid providers paid out more than $5.15 billion under an ABA billing code. Three providers received roughly $685 million in Medicaid reimbur
  
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• Why is gaming giant Roblox losing tens of billions in market value?

  08-08-2026 10:00 via cbc.ca
  
  Roblox isn’t getting the high financial scores that it used to, as the popular gaming platform has lost approximately $70 billion US in market value over the last year. The company says the steep drop-off is partly because of changes in the games its users play and growing pains as it attempts to attract older gamers — but experts say more could be at play.
  
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• SpaceX and Tesla choose Texas for AI chip manufacturing plant that will be world's largest building

  08-08-2026 02:52 via foxbusiness.com
  
  SpaceX announced this week that its planned semiconductor plant that is expected to become the largest building in the world at more than 100 million square feet will be built in Grimes, Texas, outside of Houston."Terafab Texas will be the largest and most valuable building on Earth by far," owner Elon Musk wrote X Thursday. "And it will be stunningly beautiful."The factory is a joint effort with Musk’s electric car company, Tesla."This facility will house the manufacturing, packaging and
  
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• Coca-Cola's personalized cans show inconsistent enforcement against disallowing controversial phrases, groups

  08-08-2026 01:00 via foxbusiness.com
  
  After an uproar of social media backlash over what custom messages Coca-Cola permits on its personalized cans, a Fox News Digital investigation into the platform’s moderation rules reveals an inconsistent system.Testing various words and phrases in the 18-character-or-less requirement, the Coke can customization blocks mainstream religious phrases like "Jesus is Lord" and political slogans like "Make America Great," while permitting left-wing activism, right-wing group names and even terms
  
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• Trump considering renewing push to fire Lisa Cook from Federal Reserve Board

  07-08-2026 19:48 via foxbusiness.com
  
  President Donald Trump is considering renewing his push to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations amid an ongoing legal debate over the president's ability to remove members of the independent central bank, FOX Business has learned.The White House is seeking a response from Cook within the next three weeks about the allegations the administration leveled against her last year. White House Personnel Office Director Dan Scavino indicated in a letter to Cook th
  
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• Florida steakhouse owner, hostess defend monthly naked dinner event where guests fully disrobe

  07-08-2026 17:11 via foxbusiness.com
  
  The C.L.A.S.S. Soiree Steakhouse located in Hollywood, Florida, welcomes diners to fully disrobe and eat a meal in the nude on the first Monday of each month.While guests arrive wearing clothes, they're free "to drop their clothes" after arriving at the restaurant, Tasheba Hart, who hosts the monthly events, told Fox News Digital during an interview on Wednesday while sitting alongside Chef Maurad Ali, the owner of the establishment.Hart said she goes "totally nude" at the event, but noted that
  
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• Florida enclave dethroned as Silicon Valley AI boom lifts California ZIP code to No. 1

  07-08-2026 16:33 via foxbusiness.com
  
  America’s most expensive ZIP code has officially returned to California, as the artificial intelligence stock surge has catapulted Silicon Valley’s ultra-exclusive Atherton past Miami’s tax-free paradise of Fisher Island.But while deep-pocketed tech titans are willing to fork over nearly $10 million for modest Northern California properties, real estate experts say the move signals a high-stakes trade-off: Buyers aren't staying in the Golden State for its tax climate or resort
  
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• Canada adds 75,000 new jobs in July, unemployment rate lowest in 2 years

  07-08-2026 15:03 via cbc.ca
  
  Canada added 75,000 jobs in July, up 0.4 per cent, as the unemployment fell to 6.4 per cent, its lowest level in two years.
  
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• US economy unexpectedly shed jobs in July

  07-08-2026 14:32 via foxbusiness.com
  
  The U.S. economy unexpectedly shed jobs in July amid headwinds caused by elevated inflation and uncertainty over the Iran war's economic impact.The Bureau of Labor Statistics on Thursday reported that employers cut 23,000 jobs in June. That figure was well below the estimate of economists polled by LSEG, who estimated 80,000 jobs would be added.The unemployment rate dipped to 4.1%, which was also below the estimate of 4.3%.BLS TOOK STEPS TO FIX DATA RELEASE FAILURES BUT WATCHDOG SAYS M
  
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• Burger chain bucks California trend, doubles down on Golden State despite rising costs

  07-08-2026 12:00 via foxbusiness.com
  
  As restaurant chains pull back in California amid rising labor costs and the state's $20 fast-food minimum wage, Freddy's Frozen Custard & Steakburgers CEO Chris Dull is betting bigger on the Golden State, arguing it gets a "bad rap" as a place to do business."I feel like California gets a bad rap. It's hard to find markets that offer you the same level of densities that you see in and around the state of California," Dull told Fox News Digital."It's a state that has historically been a good
  
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• The million-dollar home is becoming surprisingly normal

  07-08-2026 11:00 via foxbusiness.com
  
  A $1 million home no longer guarantees luxury in much of the United States, as years of rising prices have pushed millions of properties into seven-figure territory.The number of owner-occupied U.S. homes worth at least $1 million climbed from about 1.5 million in 2005 to 6.9 million in 2024, according to an analysis from the National Association of Realtors (NAR). Those homes now make up 8% of the market, up from 2% two decades ago.The shift is most dramatic in high-cost markets. About 40% of o
  
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• New Mexico court orders Meta to pay $567M, overhaul teen protections on Facebook and Instagram

  07-08-2026 10:51 via foxbusiness.com
  
  A New Mexico court on Thursday ordered Meta to pay $567 million and implement sweeping protections for teen users after finding Facebook and Instagram contributed to the state's youth mental health crisis.The judgment comes after a jury in March ordered Meta to pay $375 million for violating the state's Unfair Practices Act, bringing the company's total liability in the case to nearly $942 million.Judge Bryan Biedscheid found Meta had created a public nuisance in New Mexico and ordered the compa
  
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• Climbing ropes recalled over risk of death from falling, regulators say

  07-08-2026 10:44 via foxbusiness.com
  
  More than 1,000 climbing ropes are being recalled over a fall risk that could potentially lead to injury or death, according to federal regulators.Wichard Groupe North America issued a recall of about 1,050 Courant Spliced Kalimba Climbing Ropes, the U.S. Consumer Product Safety Commission announced on Thursday."The spliced termination ends on the recalled ropes can fail unexpectedly, posing a risk of serious injury or death from fall hazard," the commission said in its alert.MORE THAN 1.7M LADD
  
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• Backlash to OpenAI luxury retreat highlights influencers' uncertain relationship with AI

  07-08-2026 10:00 via cbc.ca
  OpenAI, the tech giant behind ChatGPT, hosted an all-expenses-paid gathering of content creators to promote its new AI workplace tools. The backlash from followers was fierce and experts say it may just force the influencer marketing economy to figure out where it stands on artificial intelligence.
  
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• South Korean police crack down on popular Trader Joe's seasoning after controlled substances detected

  07-08-2026 05:55 via foxbusiness.com
  
  Police in South Korea are cracking down on an American pantry favorite: Trader Joe's Everything but the Bagel seasoning.Authorities have begun blocking sales of the popular seasoning on an online secondhand marketplace after testing detected "narcotic substances" in the product, according to The Korea Herald.The Mapo Police Station in Seoul said this week that it identified listings for the seasoning blend on Karrot, a major secondhand marketplace, and worked with the company to block transactio
  
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• FAA orders inspections of hundreds of Boeing 737 Max jets over potential cracks

  07-08-2026 02:29 via foxbusiness.com
  
  The Federal Aviation Administration (FAA) has ordered inspections of hundreds of Boeing 737 Max jets over possible cracking in the aircraft’s body, though Boeing said the issue has not been seen on the Max fleet.The airworthiness directive (AD) applies to certain Boeing 737 Max 8, Max 9 and Max 8-200 airplanes and affects an estimated 471 U.S.-registered aircraft.Airline operators must inspect the fuselage skin and carry out additional inspections or repairs when needed.RYANAIR PASSENGER R
  
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• More than 1.7M ladders recalled nationwide over potentially deadly fall hazard

  07-08-2026 00:03 via foxbusiness.com
  
  Kentucky-based Louisville Ladder is recalling roughly 1.77 million attic stairway ladders after receiving reports that bolts can break while the products are being used, creating a potentially deadly fall hazard.The recall involves certain Louisville, Featherlite, Lite and Century attic stairway ladders equipped with gas struts, according to a notice issued Thursday by the U.S. Consumer Product Safety Commission (CPSC)."The bolts on the attic stairway ladders can break while in use, posing a ris
  
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• LARRY KUDLOW: Democratic Party socialism is unaffordable

  06-08-2026 23:45 via foxbusiness.com
  
  It’s so interesting to me how these socialists who are taking over the Democratic party, are hiding behind the veil of affordability. They don’t want to tell you that their agenda is all about unaffordability, or in short wrecking the whole economy. Think of this, they will tax all manner of wealth and income. Indeed, take candidate Abdul El-Sayed and Mayor Zohran Mamdani, who basically want to liquidate any of your gains from successful wealth and work. And they say it all the
  
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• July layoffs drop to lowest level in 2 years, Challenger says

  06-08-2026 23:14 via foxbusiness.com
  
  Job cuts slowed in July as companies stepped up their hiring plans, while artificial intelligence (AI) continues to be cited as a leading reason for workforce reductions, new data shows.Companies announced 33,429 job cuts in July – a decrease of 27% from the 45,849 announced in June, and a level that's down 46% from the 62,075 cuts planned in the same month last year, according to data from Challenger, Gray & Christmas.The total of 33,429 layoffs announced last month is the lowest mont
  
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• Here's the income needed to afford the typical American home

  06-08-2026 22:16 via foxbusiness.com
  
  Housing affordability remains a concern for would-be homebuyers as the income needed to afford a typical U.S. home remains near historic highs and well above what most American households earn, though there are signs of improvement from a year ago.Home prices surged in 2022 and 2023 amid strong demand coming out of the pandemic, while mortgage rates also doubled due to interest rates rising to counteract the surge in inflation.A new report by Redfin found that the income needed to afford the typ
  
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• Mortgage rates hit highest level in over a year

  06-08-2026 18:09 via foxbusiness.com
  
  Mortgage rates rose this 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 climbed to 6.69% from last week's reading of 6.66%. The average rate on a 30-year loan was 6.63% a year ago.A TALE OF TWO HOUSING MARKETS: LUXURY DEMAND SURGES AS AFFORDABILITY SQUEEZES STARTER-HOME BUYERS"While mortgage rates continue to influence affordability, the housing market is s
  
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• Bill Ackman sounds alarm on Mamdani’s economic agenda: 'Socialism is a disaster'

  06-08-2026 17:45 via foxbusiness.com
  
  Billionaire investor Bill Ackman warned that New York City’s rent freeze, tax policies and limits on development could worsen the city’s affordability crisis by discouraging construction and investment.In a wide-ranging interview with Fortune published Wednesday, the Pershing Square Capital Management founder argued that government policy is driving up housing and energy costs in New York."The answer isn’t socialism – socialism is a disaster," Ackman said. "Watch what hap
  
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• Credit expert reveals the money move that may quietly hurt your credit score

  06-08-2026 16:34 via foxbusiness.com
  
  When financial anxiety spikes, the impulse to aggressively pay off a car loan or mortgage seems like a bulletproof step toward financial freedom, but credit repair expert and influencer Micah Smith warns that suddenly paying off those loans can actually backfire and drag down your credit score.Instead, turning around a credit score — sometimes taking a profile from the 400s into the 700s in just one month — comes down to precise timing, strategic balance targets and leveraging forgot
  
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• Yankees reach agreement to make Polymarket team's official prediction market partner

  06-08-2026 15:26 via foxbusiness.com
  
  Professional sports teams and leagues have gotten in bed with sports gambling websites, and now, perhaps the most famous sports team in the entire world has gone another step.The New York Yankees and Polymarket announced Thursday a deal in which the site has become the team's official prediction market partner for the rest of the season."We are excited to begin a relationship with Polymarket — Major League Baseball’s prediction market partner," Yankees SVP of partnerships Michael Tus
  
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