Business

Maine has officially joined the ranks of high-tax blue states as Democratic Gov. Janet Mills signed a controversial new millionaire tax into law, sparking immediate warnings that the move will punish local business owners and stifle investment.Effective Jan. 1, 2026, the new law bypasses traditional Republican opposition to implementing a permanent income tax surcharge as it was included in a supplemental budget bill. The legislation, titled LD 2212, allows for […]

California lawmakers are calling for the state's high-speed rail project to be scrapped after projected costs have ballooned by more than 700%."This is a project that will never be built, and everybody in this building knows this project will never be built for the people of California and we keep wasting billions of dollars at a time where we have budget deficits," state Sen. Tony Strickland, vice chair of the […]

Kevin Warsh's nomination to serve as the next Federal Reserve chair took a big step forward on Wednesday after a key committee voted to advance his nomination after a senator lifted his opposition.Members of the Senate Banking Committee voted 13-11 to send Warsh's nomination to the full Senate for a confirmation vote that could occur soon.Warsh, a former Federal Reserve governor who served at the central bank from 2006 to […]

Tech billionaire Elon Musk's legal battle against OpenAI kicked off with a bang on Tuesday, with his attorney alleging CEO Sam Altman "stole a charity" to build a massive, profit-driven empire.In a federal courtroom in Oakland, California, Musk's lawyer, Steven Molo, told jurors that OpenAI completely abandoned its founding mission to safely develop artificial intelligence for the benefit of humanity. Instead, Molo argued, OpenAI transformed the organization into a "profit-seeking juggernaut" […]

Billionaire business tycoon Elon Musk indicated last year that he would donate to support Rep. Thomas Massie's, R-Ky., re-election bid — but Massie told Fox News Digital on Tuesday that, as far as he is aware, Musk never donated to his campaign.The congressman emphasized that he still holds Musk in high regard."Elon’s done more for America than any other entrepreneur-inventor this century. I think he found it’s easier to land […]

Citadel CEO Ken Griffin called New York City Mayor Zohran Mamdani’s viral video—which singled out Griffin and his Manhattan penthouse while announcing a new tax—a "personal attack" and a "profound lack of judgment."On April 15, Mamdani posted a video spotlighting Griffin's property to announce a new pied-à-terre tax. The move prompted the hedge fund CEO to threaten to pull a $6 billion development project from the city. The video features Mamdani, […]

Subway is rolling out a new value menu featuring 15 items priced under $5 at participating locations across the United States, according to the company.The offering includes several 6-inch sandwiches and wraps priced at $3.99, as well as a rotating "Sub of the Day" available for $4.99. Customers can add chips and a drink for an additional $2, Subway said.Subway’s move comes as fast-food chains expand lower-priced offerings. McDonald’s recently […]

A renewed push to raise taxes on wealthy individuals and corporations in New York City is drawing criticism from business leaders as policymakers weigh how to balance budgets without driving away investment.O’Leary Ventures Chairman Kevin O’Leary joined FOX Business’ Stuart Varney on "Varney & Co." to weigh in on proposals targeting high earners, arguing the approach risks undermining the economic activity cities rely on."Well, let's just look at the policy […]

A Princess Cruises ship recovered five bodies from the water during a voyage in Europe this month, the company confirmed.The Sapphire Princess altered course on April 21 after crew members spotted an orange inflatable life jacket in the water while sailing en route to Cartagena, Spain, according to a statement from Princess Cruises.The vessel deployed its Fast Rescue Boat to investigate and ultimately recovered five deceased individuals, the company said. […]