Pharmacy chain Rite Aid closed all of its locations after filing for bankruptcy twice in less than two years. The retailer posted a brief announcement on its website.”All Rite Aid stores have now closed,” the site states. “We thank our loyal customers for their many years of support.” The website…
I saw a lot of socialist experiments in Latin America and the results weren’t pretty. If Americans want to see how badly socialism works, they don’t have to go far. Beginning with Cuba’s Fidel Castro in 1959, socialism has a dismal history of failure throughout this hemisphere. While socialist revolutionaries…
A recently completed stock deal saw OpenAI’s valuation surge to $500 billion and become the world’s most valuable private company, according to a report. Current and former OpenAI employees sold about $6.6 billion in shares to a consortium of investors that included Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX…
Federal investigators are examining a crash in which two Amazon Prime Air delivery drones struck a construction crane in Tolleson, Arizona, a city west of Phoenix, on Wednesday. Tolleson police said the morning crash occurred in a commercial area near 96th Avenue and Roosevelt Street, according to FOX 10 Phoenix.The…
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A partial government shutdown began on Wednesday with Republicans and Democrats at an impasse over spending levels, which has increased uncertainty…
A listeria outbreak affecting certain recalled prepared meals sold at Trader Joe’s and Walmart has led to four deaths as well…
Some of the world’s wealthiest investors are using exchange-traded funds to access commodities, cryptocurrency and artificial intelligence. “We tend to…
A listeria outbreak affecting certain recalled frozen meals sold at Trader Joe’s and Walmart has led to four deaths as well…
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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 increased to 6.34% from last week’s reading of 6.3%. The average rate on a 30-year loan…
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Blue Bell Ice Cream has voluntarily recalled some of its half-gallon cartons due to undeclared nuts, as the products impacted have a labeling error. The recall of Blue Bell’s “limited quantity of Moo-llennium Crunch Ice Cream half gallon packaged in a Chocolate Chip Cookie Dough carton produced in its Brenham,…
Postal services in Europe and around the world plan to halt shipping merchandise to the U.S. as the Trump administration’s end of the de minimus tariff exemption goes into effect. The “de minimus” exemption allowed internation carriers to ship goods valued under $800 to the U.S. without paying any duties.The…
Nearly $4 billion of new money flowed into digital assets last week, with the U.S. dominating 99% of the total haul. Investors are taking a cue from President Trump’s push to open retirement accounts up to alternative assets. “My Administration will relieve the regulatory burdens and litigation risk that impede…
President Donald Trump on Friday threatened to fire a member of the Federal Reserve’s board of governors if she doesn’t resign from her role. Federal Reserve Governor Lisa Cook is facing mortgage fraud allegations that are under investigation by the Department of Justice (DOJ) following a criminal referral by Federal…
Federal Reserve Chair Jerome Powell on Friday said that the “balance of risks appears to be shifting” in the U.S. economy, as central bank policymakers weigh labor market conditions and inflation data ahead of their next interest rate decision in mid-September. Powell spoke at the annual monetary policy conference hosted by…
Canada is reportedly planning to announce on Friday that it will remove many of the retaliatory tariffs imposed on U.S. goods as a sign of goodwill aimed at resuming trade talks that have stalled. Canadian tariffs on goods that are compliant with the U.S.-Mexico-Canada Agreement (USMCA) would be eliminated under…
A new analysis from the Bank of America Institute found that consumer spending on live sporting events has risen markedly compared to pre-pandemic levels, which has also spurred a rise in spending at nearby restaurants and bars. David Tinsley, senior economist at the Bank of America Institute, told FOX Business in…
The fallout from Cracker Barrel’s logo change and restaurant makeover isn’t over. Shares of the food chain plunged Thursday as customer backlash and investor unease drove the chain’s worst losing streak in months. Shares of Cracker Barrel (CBRL) tumbled more than 12% on Thursday, the steepest drop since April. The stock,…
Allianz chief economic advisor Mohamed El-Erian said Wednesday that he sees two of the contenders to replace Federal Reserve Chair Jerome Powell rise above the rest of the pack. El-Erian appeared on FOX Business Network’s “The Claman Countdown” on Wednesday and said that BlackRock CIO of global fixed income Rick Rieder and…
Aerospace giant Boeing is in talks to sell as many as 500 planes to China in a deal that’s said to be at the center of a trade agreement between President Donald Trump and China’s President Xi Jinping, people familiar with the matter told Bloomberg. Boeing, which is in the…
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