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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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,…
Constellation Brands lowered its outlook for its current fiscal year as consumer demand for beer weakened, particularly for high-end beer purchases, amid a “challenging” economic climate. Constellation, which is the U.S. importer of Corona and Modelo, revised its net sales forecast for beer downward to a decline of 2% to 4%,…
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…
Treasury Secretary Scott Bessent on Monday said that the Trump administration is mulling the declaration of a national housing emergency in an effort to address high housing prices and limited inventory. “We may declare a national housing emergency in the fall,” Bessent told the Washington Examiner in a Labor Day interview. Bessent reiterated…
Nestlé S.A., based in Switzerland, has appointed a new CEO after its former leader was ousted over an inappropriate workplace relationship less than a year into the role. The company said Laurent Freixe was removed following an investigation into a romantic relationship with a direct subordinate that violated Nestlé’s Code…
A key leader in the world economy is warning that undue interference in the Federal Reserve’s operations by President Donald Trump could pose a serious economic risk to the U.S. and the rest of the world. European Central Bank President Christine Lagarde said in an interview with Radio Classique on Monday…
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