Stellantis on Friday announced it will take a $26.5 billion charge as the automaker cuts back on electric vehicle (EV) production, joining other manufacturers in taking a financial hit after misjudging consumer demand for EVs. Stellantis – the parent company of brands including Chrysler, Jeep, Dodge and Ram – became the latest…
Mortgage rates ticked higher 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 increased to 6.11% from last week’s reading of 6.10%. The average rate on a 30-year loan was 6.89% a year…
Wall Street giant Citi on Thursday informed the company’s U.S.-based employees that the firm plans to match the federal government’s seed contribution to newborns’ Trump Accounts, and will also donate to efforts to boost participation. Citi sent an internal message that was reviewed by FOX Business and notified employees that…
A prediction market company best known for allowing users to bet on world events is stepping into New York City’s food scene — if only briefly — with the launch of what it’s calling the city’s first-ever free grocery store. Polymarket will be open for New Yorkers in Lower Manhattan…
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EXCLUSIVE: Corporate America has long claimed that progressive social activism reflects the will of customers and shareholders — but a…
Gold and silver prices have seen significant volatility in recent weeks following a surge in prices over the past two…
Amazon is closing all of its Amazon Go and Amazon Fresh locations and increasing its focus on Whole Foods Market,…
Nike is planning to cut nearly 800 jobs amid an automation push at the footwear and apparel giant’s distribution centers.…
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Siemens Energy said Tuesday it will invest $1 billion to expand power grid and gas turbine manufacturing in the United States as rising electricity demand from data centers and artificial intelligence strains the nation’s energy infrastructure. The investment is expected to create more than 1,500…
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President Donald Trump on Friday nominated Kevin Warsh to serve as the next chairman of the Federal Reserve, setting up a confirmation process that could prove contentious as it moves through the Senate. Warsh, 55, previously served as a member of the Federal Reserve Board of Governors from 2006 to 2011…
President Trump plans to nominate economist Brett Matsumoto to head the Bureau of Labor Statistics, according to people familiar with the matter. The choice elevates a career staffer to run the federal government’s leading agency for economic statistics, which has been without a commissioner since Trump fired its previous chief…
President Donald Trump on Friday announced the nomination of Kevin Warsh to serve as the next chairman of the Federal Reserve following a lengthy deliberation process. Warsh, who previously served as a member of the Fed’s Board of Governors from 2006 to 2011, was under consideration for the chairman role when…
President Donald Trump on Friday announced that he is nominating Kevin Warsh to succeed Jerome Powell as chairman of the Federal Reserve, ending months of speculation over who he’d pick to head the central bank. “I have known Kevin for a long period of time, and have no doubt that…
Saks Global announced the majority of its Saks OFF 5TH locations across the United States will now be closing, just weeks after a bankruptcy filing. The luxury retailer said 23 of its Saks OFF 5TH stores will cease operations on Monday, Feb. 2, while another 34 will hold closing sales…
Middle-income Americans are continuing to feel financial strain and say their income is being outpaced by the rising cost of living, according to a new analysis by Primerica. The financial services firm released the latest edition of the Primerica U.S. Middle-Income Financial Security Monitor quarterly survey on Thursday, which showed…
An analysis by the Federal Reserve Bank of Kansas City found that tariffs may have slowed job growth in the U.S. economy in 2025 after the higher import taxes were implemented. Economists at the Kansas City Fed noted that employment growth slowed markedly from 170,000 per month in 2024 to only 75,000…
The Trump administration is rolling out the new “Trump Accounts” that will aim to provide children with a jump start on savings and investment that could grow into a substantial nest egg by the time they reach adulthood. Trump accounts are tax-advantaged savings accounts that the administration created through the…
Some Social Security beneficiaries will receive their monthly benefits slightly earlier than usual in February and March due to a quirk in the calendar. The Social Security Administration (SSA) ordinarily disburses payments for Supplemental Security Income (SSI) on the first day of a given month. The SSI program provides monthly payments to…
Federal Reserve Chair Jerome Powell said that policymakers are hearing that a significant segment of American consumers are still looking to “economize” their purchases and trading down as they feel the effects of stubborn inflation on their household budget. Powell spoke at a press conference Wednesday after the central bank left…
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