Business

If you want to know how to fix America’s housing crisis, look no further than the stark divide playing out along the Hudson River.In Manhattan, where years of heavy regulation, strict zoning laws and a sub-2% vacancy rate have choked off new development, rents have just hit historic records. But in neighboring Jersey City, a massive post-pandemic building boom has forced landlords to compete on price, driving local rents down […]

The Federal Reserve's preferred inflation gauge remained stubbornly high in April as consumers continued to face elevated price growth.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.4% on a monthly basis in April and is up 3.8% from a year ago. The monthly figures were slightly cooler than the 0.5% increase expected by economists polled by LSEG, while the annual figure was in line with expectations.HOW […]

Sen. Elizabeth Warren, D-Mass., is advocating for targeting the artificial intelligence industry with taxes."It's time to tax AI and invest in people," the left-wing lawmaker asserted.She has floated the prospect of taxing the energy consumed by AI data centers.SEN WARREN BLASTED FOR CHEERING BLOCKING OF MERGER THAT MIGHT HAVE SAVED SPIRIT AIRLINES"Rethinking our tax code must also include going to the source: that means taxing AI companies directly, which can […]

As a parent, one thing I often try to emphasize to my kids is the importance of hard work. Study a little bit for a test, and you might walk away with a 95. Study harder, and you could score 100 instead.I'm also no stranger to hard work. There's a reason I spend 40 or more hours a week at my desk as a freelance writer when I could probably […]

Social Security is projected to become insolvent in 2032 and trigger automatic benefit cuts according to the most recent estimates, and Americans are split on the best way to reform the entitlement program to secure its future, a new poll finds.The Ronald Reagan Institute's Reagan National Economic Survey, reviewed exclusively by FOX Business, asked voters how they think Social Security's shortfall should be closed to prevent benefits from being cut […]

A New York business leader is warning that New York City Mayor Zohran Mamdani’s proposed housing plan could drive developers and investors away from the city.FOX Business’ Madison Alworth joined FOX Business’ Stuart Varney on "Varney & Co." to report on Mamdani’s proposal to create 200,000 new affordable, rent-stabilized housing units and preserve another 200,000 over the next decade. The $22 billion plan would include $5.6 billion for the New […]

New York City hotel rates could climb even higher after hotel owners signed what industry officials describe as the most expensive union contract in the industry’s history, locking in major wage increases for workers while raising affordability concerns for travelers and smaller hotels.The agreement, reported by The Wall Street Journal, reached last week to avoid a strike ahead of next month’s FIFA World Cup kickoff, increases hourly pay for most […]

Americans remain optimistic about the country's ability to harness innovation and think it should be easier to build things in America, while they're also skeptical about the government's role in solving the issues confronting the nation, a new survey finds.The findings of the Ronald Reagan Institute's Reagan National Economic Survey, reviewed exclusively by FOX Business, showed that 65% of registered voters were optimistic about American-led innovation in areas like medicine, […]

Walmart is ramping up its private-brand strategy with a major overhaul of its home and hardware categories.The retailer announced Wednesday that it is revamping its hardware department with an exclusive Greenworks Pro tool line and expanded Hyper Tough offerings. At the same time, Walmart says it is launching Mainstays Kids, its first new home brand in five years.Courtney Carlson, a senior vice president at Walmart, told FOX Business that the […]