Business

President Donald Trump said South Korea will pay $350 billion to reduce U.S. tariffs and invest $600 billion in American energy and business. In a Truth Social post Wednesday, he added that he approved Seoul’s plan to build nuclear-powered submarines as part of what he called a stronger military alliance.Trump wrote on Truth Social, "South Korea has agreed to pay the USA 350 Billion Dollars for a lowering of the […]

I certainly hope a supply-sider will run the Fed. As Art Laffer has said again and again, tax something less and you get more of it. Tax something more and you get less of it. This applies to work and investment. And growth. And production. Wait a minute, if you produce more goods, that lowers prices. Supply-siders understand that tax incentives generate faster growth at lower inflation. And the Fed has never […]

Federal Reserve Chairman Jerome Powell said Wednesday it remains unclear whether the ongoing government shutdown and the resulting lack of key economic data will affect the central bank’s December meeting.With key indicators still missing due to the shutdown, Powell said the Fed will proceed carefully until it has a clearer view of the economy."If you’re driving in the fog, you slow down," he said at the conclusion of the two-day […]

The Federal Reserve on Wednesday announced its second interest rate cut of this year as policymakers moved to support the labor market despite inflation remaining above the central bank's target.Fed policymakers voted to lower the benchmark federal funds rate by 25 basis points to a new range of 3.75% to 4%. The move follows a rate cut of that size in September, which was the first reduction this year.Policymakers have been […]

Sen. Elizabeth Warren, D-Mass., isn’t backing down from sparring with Treasury Secretary Scott Bessent over the Trump administration’s decision to provide Argentina a $20 billion currency swap with Argentina’s central bank. Warren, along with Sen. Amy Klobuchar, D-Minn., led a coalition of lawmakers in sending a letter to Bessent Monday accusing the secretary of prioritizing foreign governments over U.S. farmers as President Donald Trump considers offering farmers financial relief and China […]

EXCLUSIVE: The ongoing government shutdown is having a negative impact on American manufacturers' operations, and dozens of state manufacturing associations are writing to congressional leaders urging them to reopen the federal government, according to a letter reviewed by FOX Business.Thirty state manufacturing groups and the National Association of Manufacturers (NAM) sent a letter to Senate Majority Leader John Thune, R-S.D., Senate Minority Leader Chuck Schumer, D-N.Y., House Majority Leader Steve Scalise, R-La., […]

Paramount cut approximately 1,000 jobs on Wednesday, with another 1,000 expected "swiftly" in a massive headcount reduction designed to address "redundancies that have emerged" after the company’s $8 billion merger with Skydance. Layoffs have been expected since the industry-changing merger put CEO David Ellison in charge of the newly formed Paramount, a Skydance Corporation, in August. Roughly 1,000 positions were eliminated Wednesday and the company plans to slash another 1,000 in the […]

Walmart announced its annual holiday sales events are coming back with significant deals as the company tries to lure in budget-conscious shoppers and reaffirm its dominance during the critical shopping period.  The retailer holds three major sales events, dubbed Walmart Deals Events, with loyalty members getting priority access. The first event will run from Nov. 14 to Nov. 16, with Walmart+ members getting five hours early access online beginning the evening […]

GameStop sparked a viral wave on social media after posting a mock "executive order" announcing an end to the decades-long battle between video game console brands, a parody that rather unexpectedly drew attention from the White House.The company shared the announcement on X with the headline "GAMESTOP DECLARES THE CONSOLE WARS OVER."Styled like a formal government decree, the post mirrored the structure and tone of an executive order, complete with […]