Business

The Treasury Department wants to make the IRS more efficient under the Trump administration.And IRS data shared with FOX Business indicates total tax receipts for this tax filing season have increased 5% from last year. Additionally, the total number of tax returns processed is up 1.5%."We are making Treasury efficient again. This isn't just words on paper. The data backs the great work that we're doing to make sure that the IRS […]

Energy Secretary Chris Wright toured a Rinnai America Corporation tankless water heater factory in South Georgia on Friday to mark 100 days of the Trump administration and the $24 billion his agency said has saved American consumers from regulatory changes it's made.The Energy Department first postponed the rule set into motion under the Biden administration, then Congress passed a bill via the Congressional Review Act (CRA) in April to codify […]

A stablecoin launched by Donald Trump's World Liberty Financial crypto venture is being used by an Abu Dhabi investment firm for its $2 billion investment in crypto exchange Binance, one of World Liberty's co-founders said on Thursday.It's the latest in a series of Trump family crypto-related ventures, including a "meme coin" launched in January, that have drawn criticism from government ethics experts and political opponents over potential conflicts of interest.World […]

Streaming giant Spotify on Friday announced that Apple approved an app update it submitted to revise how the music streaming service displays its pricing information and purchase links after a judge ordered the iPhone maker to give app developers more ability to communicate with their customers.A federal judge on Wednesday issued an order that found Apple was in "willful violation" of a 2021 injunction and was now required to stop […]

The Trump administration is reportedly feeling good after a better-than-expected April jobs report, as Labor Secretary Lori Chavez-DeRemer claims this marks the beginning of a new golden age."With President Trump at the helm, I'm telling you, he mentioned to the American people over and over again that the golden age was coming. I will tell you, the golden age is here," the secretary said Friday on "Varney & Co.""This is […]

Jeff Bezos will offload up to 25 million Amazon shares, according to a new Securities and Exchange Commission (SEC) filing.Amazon said Friday in its quarterly report filed with the SEC that its billionaire founder adopted a trading plan "intended to satisfy Rule 10b5-1(c)" early last month to part ways with up to that many shares. The 25 million Amazon shares had a value of over $4.7 billion as of Friday morning. The […]

President Donald Trump's administration on Friday is set to release its "skinny" budget blueprint that outlines topline spending figures from the White House, which is expected to reflect a bigger request for the defense budget.Senior officials at the Office of Management and Budget (OMB) exclusively told FOX Business that the overall discretionary budget will be $1.7 trillion. The discretionary budget excludes spending on Medicare and Medicaid, as well as Social […]

President Donald Trump on Friday once again called on the Federal Reserve to lower interest rates.Trump cited lower gasoline and grocery prices and strong employment numbers. His comments came after the Labor Department released April jobs data that showed the U.S. economy added a better-than-expected 177,000 jobs in the month."Gasoline just broke $1.98 a Gallon, lowest in years, groceries (and eggs!) down, energy down, mortgage rates down, employment strong, and […]

The U.S. economy added jobs in April at a slower pace than a month ago amid uncertainty over economic conditions as well as tax and trade policy.The U.S. Department of Labor on Friday reported that employers added 177,000 jobs in April. That figure was above the estimate of economists polled by LSEG, though it was cooler than the 185,000 added in March — which was initially announced as a gain of […]