Business

Mercedes-Benz’s manufacturing plant in Tuscaloosa, Alabama, will build a new vehicle for the luxury automaker. The Germany-based company announced the news on Thursday, saying the "localization" of the new "core segment" vehicle will occur by 2027.The new vehicle will add to the numerous models that the Tuscaloosa plant already produces, such as the Mercedes-Benz, GLE, GLS, GLE Coupe, EQS SUV, and EQE SUV and the Mercedes-Maybach GLS and EQS SUV. "We are getting […]

Billionaire Elon Musk said Wednesday that the Department of Government Efficiency (DOGE) should look into the Federal Reserve's expenditures on its headquarters renovation.Musk, who has been the DOGE figurehead since its inception and said last week he will step back from the role to focus more on his CEO duties at Tesla, told reporters at the White House on Wednesday that DOGE should look at the Fed's spending."Since at the end of […]

FIRST ON FOX: Congressional GOP lawmakers are reintroducing legislation for a savings account option meant to put fewer financial regulations on Americans. Sen. Ted Cruz, R-Texas, and Rep. Diana Harshbarger, R-Tenn., will introduce the Universal Savings Account Act on Thursday.The accounts would be similar to a Roth IRA, but there is no age minimum or other restriction to withdraw the funds without a penalty, and the growth of the funds would […]

McDonald’s global comparable sales experienced a dip in the first quarter as consumers, weighed down by economic uncertainty, bought less fast food. The company said its global comparable sales went down 1% year-over-year in the first-quarter, with its U.S. comparable sales seeing a 3.6% decrease. Analysts had been anticipating a 0.95% increase for the former and a 0.5% drop for the latter.The results echoed warnings from restaurant operators Domino’s Pizza, Chipotle Mexican […]

The White House on Thursday released a video highlighting some behind-the-scenes action from President Donald Trump’s meeting with global AI and technology leaders, including Apple’s Tim Cook and Nvidia’s Jensen Huang.During the meeting, Cook indicated that Apple is boosting its own investments domestically expressly because of Trump’s policies, the White House told Fox News Digital."The companies represented in this room have collectively announced more than $2 trillion in new investments, […]

Mortgage rates fell for the second week in a row, 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 6.76% from last week's reading of 6.81%.The average rate on a 30-year loan was 7.22% a year ago."In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first-quarter […]

The U.S. Chamber of Commerce warned in a new letter to the Trump administration that small businesses need automatic exclusions from tariffs that could undermine their ability to survive.The Chamber wrote Thursday to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer to convey their concerns about small businesses' ability to handle the financial hit of tariffs and call for small businesses to be excluded […]

General Motors faces billions of dollars in new tariff-related hits to earnings but still plans to hold vehicle prices steady, CEO Mary Barra told FOX Business on Thursday, citing the company's push to expand U.S. production.With the side effects of tariffs looming, something has to give – but, for now, GM says customers won't be paying the price."From a pricing perspective, we've said, and we've included in our guidance, it […]

Goldman Sachs CEO David Solomon said Tuesday he thinks financial markets will overcome prevailing uncertainty to settle down for an anticipated rise in mergers with companies going through the public listing process."If the level of uncertainty grows from here, yes, you will not see the same amount of capital activity, but things will settle down," Solomon said in an interview with Bloomberg Television's Francine Lacqua. "People need to transact, need to […]