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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A member of the Federal Reserve panel that makes decisions about monetary policy said that he favors keeping interest rates at their current level to prevent strong levels of economic activity spurring a resurgence of inflation. Federal Reserve Bank of Kansas City President Jeffrey Schmid said that, in his view of…
Treasury Secretary Scott Bessent on Wednesday said that he doesn’t think the Bureau of Labor Statistics (BLS) needs to pause monthly jobs report releases because of instances of large revisions in the data in subsequent reports. Bessent was interviewed on “Bloomberg Surveillance” and he was asked about comments made by Heritage Foundation…
The U.S. Food and Drug Administration (FDA) may not renew the Emergency Use Authorization for the Pfizer-BioNTech COVID-19 vaccine for children under the age of five, the company said. The possible move would pull the only available coronavirus vaccine for young children from the market. “We are currently in discussions with…
GE Appliances is investing more than $3 billion over the next five years to expand its U.S. operations, aligning with the Trump administration’s efforts to bring manufacturing back to American soil. The investment is the second-largest in the company’s history and will support the expansion of its air conditioning and…
The U.S. national debt surpassed $37 trillion for the first time in the nation’s history on Friday as the federal government continues to accumulate debt at a record-setting pace. New data from the Treasury Department released showed that the gross national debt hit $37,004,817,625,842.56 on Tuesday afternoon.The $37 trillion debt…
Kodak announced in a Securities and Exchange Commission (SEC) filing on Monday that there was “substantial doubt” about the company’s ability to stay in business. The company plans to pay off some of its debt and preferred stock using money it expects to get back from its pension plan. The…
Spirit Airlines warned Tuesday that it may not make it through another year, citing concerns over its ability to raise enough cash, despite having successfully restructured its debt and emerging from bankruptcy just months ago. The beleaguered low-cost carrier said in a Securities and Exchange Commission (SEC) filing that it…
President Donald Trump’s executive order directing financial regulators to include alternative investments in retirement plans like 401(k) funds could change the makeup of Americans’ investment portfolios. Trump signed the executive order on Thursday, and the White House provided a fact sheet directing the Labor Department to reconsider its guidance on alternative assets…
Inflation increased in July and moved further away from the Federal Reserve’s target rate as central bank policymakers assess the health of the economy amid the president’s calls for interest rate cuts. The Bureau of Labor Statistics on Tuesday said that the consumer price index (CPI) – a broad measure…
General Motors will restart work on its driverless-vehicle program, a year after shelving production of the Cruise Origin robotaxi when one struck and dragged a woman about 20 feet. GM confirmed the news in a statement to FOX Business on Monday.”We’re accelerating the development of autonomous driving technology capable of…
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