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Bank of America report says ‘funflation’ is hitting hobby spending
A new report from the Bank of America Institute finds that American consumers are spending more on their hobbies but are facing higher prices for their enjoyment. The report notes that Bank of America card data suggests consumers are facing “funflation” in…
Costco cuts prices on produce, meat and home goods after tariff refunds
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…
What the Fed’s first rate hike in years means for your wallet
The Federal Reserve’s first interest rate hike in more than three years is likely to increase borrowing costs for many consumers, particularly those carrying variable-rate debt such as credit cards and home equity lines of credit. Earlier this month, the Fed…
Tesla Semi deliveries begin with PepsiCo and DHL as first customers
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…
Deficit reduction could lower inflation and interest rates, CRFB finds
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…
Canadian business leader warns US trade uncertainty risks ‘capital chill’ amid global push
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…
Mortgage rates rise to 7.03%: Freddie Mac
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…
Peter Schiff predicts oil prices going higher, economic ‘downturn’
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…
Google partners with veterans groups to help 25,000 enter skilled trades
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…
Bank of America expands apprenticeship program with 1,000 new hires
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…
McDonald’s pledges $8.5B in franchisee support for modernization plan
McDonald’s on Wednesday announced new details as part of its long-term growth strategy, which will include a focus on upgrading restaurants and staff training, at an investor day at the corporate headquarters in Chicago. The fast food giant announced its NEXT…
Jaguar Land Rover recalls 23,000 SUVs over software and power defect
Jaguar Land Rover expanded an existing recall to include an additional 23,677 vehicles over an electronic system error that may lead to the loss of drive power and exterior lighting, according to federal regulators. About 23,677 vehicles are affected by the…