Mortgage rates tumbled this week, posting the largest weekly drop in the past 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 fell to 6.35% from last week’s reading of 6.5%. The average rate…
Inflation rose in August and remained well above the Federal Reserve’s target rate as central bank policymakers weigh potential interest rate cuts at their meeting next week. The Bureau of Labor Statistics on Thursday said that the consumer price index (CPI) – a broad measure of how much everyday goods like…
FIRST ON FOX: Cracker Barrel is highlighting a series of changes the restaurant chain has implemented in the wake of aggressive backlash from customers in recent weeks, ranging from a throwback in biscuit preparation to the elimination of Diversity, Equity and Inclusion (DEI) programs. Cracker Barrel is poised to announce…
On Tuesday, the Bureau of Labor Statistics (BLS) published a revision of its latest job numbers, a report that shows just how far off its estimates of overall employment were from reality. The latest data just confirms what many already suspected—that the situation is worse than we thought. There’s something…
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The United Auto Workers (UAW) labor union is condemning Hyundai for what it calls a “disgraceful record on worker safety” following an immigration raid at an electric car battery factory in Georgia. Most of the 475 people detained on Sept. 4 under suspicion of being in…
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The U.S. economy continued to add jobs in August amid uncertainty about economic conditions, though it was at a relatively slower pace following a similarly soft jobs report last month that prompted President Donald Trump to fire the commissioner of the Bureau of Labor Statistics. The Labor Department on Friday…
If you were investing in the late 1990s, you’ll remember the euphoria of the dot-com boom. Anything with a “.com” at the end of its name could raise millions in capital and see its stock price double or triple overnight. Investors believed the internet would change everything – which, to be fair, it eventually did.…
Mortgage rates fell to the lowest level since October 2024, 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 fell to 6.5% from last week’s reading of 6.56%. This week’s figure was the lowest since…
Gold prices slipped on Thursday, marking a pause in what has been a record-breaking rally that has seen market prices for the precious metal surge over the last year. Long considered a safe haven asset to hedge against economic uncertainty, gold has risen as investors deal with concerns about the U.S.…
Companies in the private sector added 54,000 jobs in August, payroll processing firm ADP said Thursday. The figure is below economists’ estimates of a gain of 65,000 jobs and down sharply from the prior month’s reading of 104,000.”The year started with strong job growth, but that momentum has been whipsawed…
New York City mayoral candidate Zohran Mamdani’s plan for a $30 an hour minimum wage could make it harder for Americans to access entry-level jobs by speeding up automation. Mamdani, the 33-year-old state assemblyman and self-described democratic socialist, is campaigning on raising the city’s minimum wage to $30 an hour by 2030…
The Treasury Department unveiled its list of jobs that will be covered by the Trump administration’s “no tax on tips” policy under the One Big Beautiful Bill Act (OBBBA). President Donald Trump made “no tax on tips” a key pledge during his campaign last year and worked with Republican lawmakers to…
Salesforce has cut 4,000 customer support jobs and replaced them with artificial intelligence (AI) agents, CEO Marc Benioff recently said. Benioff made the comments while discussing how the new technology is impacting the $248 billion computer software company’s headcount during an appearance on “The Logan Bartlett Show” podcast that was…
McDonald’s CEO Chris Kempczinski warned of a “two-tier economy” as the fast-food giant brought back its Extra Value Meals this week in hopes of capturing budget-conscious consumers. Kempczinski made the remark during an appearance on CNBC as McDonald’s announced it will offer eight meal bundles at breakfast, lunch and dinner,…
Nuclear energy, left for dead over the past thirty years or so, is back. “There has been a huge policy shift globally and there is now bipartisan support for nuclear, and we need it,” Jan VanEck, CEO of the firm that bears his name, told FOX Business’ Liz Claman. The rise…
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