Business

Tesla reported a revenue loss from its electric vehicles fall year over year in the first quarter.The electric vehicle maker, run by CEO Elon Musk, generated $13.97 billion in automotive revenue in the first three months of 2025, marking a drop of nearly 20% from the same quarter last year, according to its earnings release. During the earnings call, Elon Musk said his "time allocation to DOGE will drop significantly." DOGE, […]

American workers are lowering their expectations of the pay rate they want to take a new job, according to research by the Federal Reserve Bank of New York.The New York Fed's Survey of Consumer Expectations found that the so-called reservation wage for a new job declined to $74,236 in March from $82,135 in November, which was the highest level in the data series. The report found that the lowered wage expectations […]

Los Angeles has seen a decline in local film and TV production, causing some to worry the city could face the same fate as Detroit did with the auto industry several decades ago. "As the auto industry left Detroit, it really hollowed out that city, and now there’s some concern that the same thing could be happening here in Los Angeles and in Hollywood as movie productions move out of town," FOX […]

White House press secretary Karoline Leavitt said the Trump administration now has "18 proposals on paper" for trade deals following the implementation of its latest tariffs. "I spoke to our entire trade team this morning. There is a lot of progress being made. We now have 18 proposals on paper that have been brought to the trade team. Again, these are proposals on paper that countries have proposed to the Trump […]

Halliburton on Tuesday warned of a second-quarter earnings impact from tariffs and lower oilfield activity in North America as producers evaluate drilling and completions at weak oil prices, sending shares of the oilfield service producer down about 6%.Halliburton is the first of the Big Three U.S. oilfield services providers and among the first large oil company to report earnings as U.S. crude prices hover under $64 a barrel. Many companies […]

U.S. industrial conglomerate 3M Co. on Tuesday beat Wall Street expectations for first-quarter profit on cost cutting, sending its shares up 7% even as it warned of a potential hit to 2025 earnings from trade tensions.Bill Brown, who succeeded Mike Roman as CEO in May, laid out a restructuring plan in July focused on reining in spending and redirecting funds from mitigating legal liabilities.In February, 3M said it was targeting […]

Treasury Secretary Scott Bessent told an investor summit on Tuesday that he expects the U.S. and China will de-escalate the impasse over tariffs because it's unsustainable for both countries, FOX Business has learned.Bessent said that while negotiations haven't started, a deal is possible, a source who attended the investor summit told FOX Business. The summit was closed to the media and public and hosted by JPMorgan Chase. Bloomberg first reported […]

Beijing has asked South Korean companies to cease exporting products containing Chinese-originated heavy rare earth metals to U.S. defense firms, warning that Seoul could face sanctions. China’s Ministry of Commerce sent official notices to at least two South Korean companies recently, the Korea Economic Daily reported on Tuesday, citing sources in the South Korean transformer industry.The outlet said the letters did not specify what type of penalties South Korean companies could […]

Anthropic – the company behind the artificial intelligence platform Claude – anticipates that digital AI employees will appear on corporate networks in the next year, the organization's top security leader informed Axios.Jason Clinton, Anthropic's chief information security officer, noted that these virtual workers could mark the next area of innovation in the AI space, the outlet reported. The AI entities would have "memories," parts to play within the business, and company […]