Business

A Chinese supercomputer system surpassed an American computer for the world's fastest, according to an industry list published in Hamburg, Germany, on Tuesday, giving China the edge over the U.S. with the fastest supercomputer for the first time since 2017.LineShine, a system built by the Shenzhen Cloud Computing Center in China, took the crown from El Capitan, a supercomputer housed at the Lawrence Livermore National Laboratory in California, which had […]

Traffic by tankers transiting the Strait of Hormuz has picked up amid the negotiations between the U.S. and Iran aimed at ending the war, which has caused oil prices to decline with more supply hitting the market.The two sides have agreed to open the key shipping route for oil during the negotiations after the U.S. instituted a naval blockade and Iran laid sea mines that deterred shipping from moving through […]

In a major shift to capture changing consumer foot traffic, Bath & Body Works is expanding its retail footprint well beyond its own storefronts.The legacy specialty retailer announced Tuesday a strategic partnership with Ulta Beauty to bring its products to the beauty retailer's nationwide network. The rollout, which will reach more than 600 stores on July 12, represents the company's "Consumer First Formula" strategy to transition from a specialty retailer […]

California Gov. Gavin Newsom is blaming politics for a Department of Justice investigation into his and his wife Jennifer Siebel Newsom's finances, but one critic says that explanation does little to address the conduct that drew federal scrutiny in the first place."We don't know whether these investigations are politically motivated or not," California Post opinion editor Joel Pollak told FOX Business."It didn't help John Bolton when he said that the […]

The affordability of the U.S. housing market may not improve significantly over time for would-be homebuyers, with a new report suggesting that they shouldn't wait in the hopes of affordability measures returning to their pre-2022 levels.Sarah Wolfe, a senior economist and strategist at Morgan Stanley, said in a report that while housing affordability could improve modestly over time, it is "unlikely to return to more favorable levels of the past, […]

Alan Greenspan, former chair of the board of the governors of the Federal Reserve System, died on Monday at the age of 100 years old, according to a statement from his wife Andrea Mitchell, NBC News chief Washington correspondent and chief foreign affairs correspondent."Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease," Mitchell said in the statement obtained by Fox Business […]

A fresh wave of Silicon Valley wealth could soon flow into South Florida.With OpenAI quietly filing for a confidential IPO alongside market debuts from aerospace giant SpaceX and AI rival Anthropic, billions of dollars in overnight liquidity are about to be unlocked for executives and middle management alike. But instead of reinvesting in the Golden State, this incoming class of newly minted tech multimillionaires is already flooding Florida real estate […]

Happy Joe’s Pizza & Ice Cream is turning America’s 250th birthday into a summer-long celebration.The Davenport, Iowa-based restaurant chain — which has three company-owned restaurants, 35 domestic franchised locations and nine international locations in Egypt — is rolling out patriotic menu items, family block parties and sweepstakes tied to the nation’s semiquincentennial.Tom Sacco, Happy Joe’s CEO, president and "chief happiness officer," said the campaign fits the brand’s roots."Who's better in […]

Billionaire Citadel founder Ken Griffin is encouraging New York's business leaders to take on socialist Mayor Zohran Mamdani, warning that the city's future could be at risk if employers and investors stay quiet."They need to find their voice and fight for their city," Griffin said Thursday at a Manhattan event, according to Bloomberg."My advice is to speak up. What’s the worst that’s going to happen? It will be that New […]