Business

President Donald Trump on Friday called on Federal Reserve Chairman Jerome Powell to lower interest rates by a full percentage point."'Too Late' at the Fed is a disaster!" Trump wrote in a post on Truth Social. "Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!"Trump's post came after the release of the Labor Department's May […]

Tesla CEO Elon Musk's vocal criticism of the tax cut package the Trump administration and congressional Republicans are advancing has left the company's investors in limbo as Musk and the president trade verbal barbs over the bill.The billionaire's time in the role was tumultuous for Tesla, which became the subject of boycotts in opposition to Musk's role as the leader of the administration's Department of Government Efficiency (DOGE), which sent Tesla […]

A recall is underway for some Topo Chico Mineral Water bottles for potential contamination with bacteria. A Coca-Cola spokesperson told FOX Business on Thursday that the company recalled a "limited quantity" of 16.9-ounce glass bottle Topo Chico products "due to a potential contamination of pseudomonas." "All impacted product has been removed from store shelves at the approximately 40 retail locations across Arizona, Louisiana, Nevada, New Mexico, and Texas, and no illnesses have […]

June is Pride Month, and Target has found itself — once again — at the center of controversy over its approach to promoting the honorary month celebrating LGBTQ people.Target officials have reportedly acknowledged that their approach to Pride Month this year would be scaled back, compared to previous years, and shoppers have taken notice. The response has been a mixed bag of positive feedback and disappointment, particularly since shoppers have […]

Elon Musk’s spat with President Donald Trump over the 'big, beautiful bill, continues to rage, with the Tesla CEO on Thursday using a decade-old social media post to drill home his opposition to the legislation. Musk is staunchly opposed to the bill as it will add $2.4 trillion to the national debt, which has already ballooned to $36.2 trillion as of today, according to FOX Business' National Debt Tracker.On Thursday, Musk shared […]

Layoffs of U.S. workers were nearly 50% higher in May than they were a year ago, with reductions attributed to the Department of Government Efficiency (DOGE) remaining the leading reason for job cuts this year, according to a new report.Global outplacement Challenger, Gray & Christmas released a report Thursday that said there were 93,816 job cuts announced by U.S. employers in May. That amounts to an increase of 47% from 63,816 […]

Retail stores and grocers are cutting prices and offering a bigger assortment of low-cost products to attract shoppers who are pulling back on spending in the face of an uncertain economy.Aldi, widely known as a budget-friendly grocery chain, said on Thursday that it's cutting prices on more than 400 products, equating to nearly 25% of its store selection. By dropping prices on products across its over 2,400 stores, Aldi said customers […]

President Donald Trump on Thursday said he was disappointed in Elon Musk's criticism of Republicans' tax cut package, which the billionaire called a "disgusting abomination" and has urged Congress to block the measure."Well, look, you know, I've always liked Elon, and so I was very surprised, and you saw the words he had. He hasn't said anything about me that's bad. I'd rather have him criticize me than the bill, because the […]

Mortgage rates declined for the first time in weeks, though they are still hovering near 7%, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.85% from last week's reading of 6.89%.The average rate on a 30-year loan was 6.99% a year ago.WHEN LEAVING THE HOUSE TO YOUR HEIRS BACKFIRES"The average mortgage […]