Treasury Secretary Scott Bessent said in an interview on Thursday that he expects economic growth to pick up later this year with core inflation trending lower, while he warned that there have been growing tensions with China over artificial intelligence and rare earths. Bessent spoke with FOX Business’ Edward Lawrence…
More than 120,000 refrigerators are being recalled over a fire and burn hazard after federal regulators received 34 reports of fires, including one that reportedly resulted in a death. About 121,680 Galanz Retro Refrigerators are affected by the recall, the U.S. Consumer Product Safety Commission (CPSC) announced on Thursday.”The recalled…
CUPERTINO, Calif. – Apple delivered its strongest June quarter on record, reporting $109.4 billion in revenue and beating analysts’ estimates of $108.65 billion in the company’s final earnings report before CEO Tim Cook steps down. A 22% jump in iPhone sales, combined with record spring quarter Mac revenue, helped drive…
Mortgage rates rose this week to the highest level in a year, 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 6.66% from last week’s reading of 6.58%. The average rate on a…
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Johnson & Johnson (J&J) on Monday said it reached a settlement that it would pay an estimated $5.5 billion to…
Ford Motor Co. is pursuing what could be its biggest military contract in decades as it competes to build a…
Since early June, Wall Street’s major stock indexes have all rallied to fresh record highs. While artificial intelligence (AI) is…
United Airlines reportedly approached Delta Air Lines last year about a potential merger that would have combined two of the…
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Traffic at Cracker Barrel locations is yet to fully recover from the backlash against its failed rebrand last year despite signs of improvement, company executives said on the restaurant chain’s most recent earnings call. The company has been looking to put itself on a more…
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Jaguar Land Rover is recalling more than 15,000 vehicles over an issue that could affect the rearview camera, which could limit the driver’s rear visibility while reversing, according to federal regulators. A total of 15,535 vehicles are potentially affected by the recall, covering 2021-2025 Land Rover Discovery models, the National…
Disney laid off several hundred employees Tuesday morning across multiple divisions, with Pixar absorbing the largest share of the cuts. At least 116 employees were laid off at Pixar’s Emeryville, California, headquarters, according to TheWrap, citing sources. Disney Entertainment Television, Disney Studios and ESPN were also affected by the latest…
Tesla said Wednesday that its robotaxi fleet has logged more than 380,000 unsupervised miles across six cities in two states without what the company described as a “notable” safety incident. Ashok Elluswamy, Tesla’s vice president of AI software, highlighted the fleet’s safety record during the electric vehicle maker’s second-quarter earnings…
Americans in the market for buying a new home are seeing the markets in some parts of the country turn in their favor after years of seller’s markets prevailing. Realtor.com on Tuesday released the second-quarter edition of its market clock report, which analyzes national and metro-level housing conditions based on…
Google reportedly expanded its office presence in Miami this year after two of its co-founders purchased houses in South Florida. Alphabet, the parent company of Google, signed a lease expanding its existing 10,000-square-foot satellite office in Miami’s financial district by an additional 45,000 square feet, two people familiar with the…
Icahn Enterprises on Tuesday announced that the company reached a deal to sell Pep Boys to Mavis, one of the largest independent tire and service providers in the country, in a $700 million deal. Pep Boys has nearly 800 locations around the country and offers auto services including tires, repairs,…
Ford is recalling nearly 388,000 SUVs because an issue with the second-row easy-entry seats could increase the risk of injury, according to federal regulators. A total of 387,911 vehicles are affected, including certain 2020-2026 Ford Explorer and 2020-2027 Lincoln Aviator models, the National Highway Traffic Safety Administration (NHTSA) said in…
Apple is raising prices on Apple Music subscriptions as well as certain Apple One plans as the company faces higher licensing costs. The tech giant last week hiked prices for Apple Music plans across subscription tiers. Individual plans will rise by $1 a month to $11.99, while student plans will…
Nvidia has held the position as the world’s biggest company since about a year ago, when it became the first to reach $4 trillion in market value. It soared past former leaders Apple and Microsoft. But in recent days, Apple, which hasn’t climbed as much as its peers during the…
Student loan defaults are up to a record high, with 9.5 million borrowers in default, meaning they are more than 270 days behind on loan payments, according to data from the Office of Federal Student Aid. The near-10 million borrowers in default represent a record-high and nearly double the number…
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