Business

Treasury Secretary Scott Bessent said Tuesday the Trump administration will take into account China's lack of compliance with a trade deal from the president's first term when it finalizes a new trade deal.Bessent was interviewed on FOX Business Network's "Kudlow" after President Donald Trump raised tariffs on Chinese imports to upward of 145%, prompting China to slap 125% tariffs on U.S. exports to the country. Host Larry Kudlow asked whether the phase one […]

Consumer confidence fell to its lowest level in nearly five years in April as concerns about tariffs and trade uncertainty weighed on the economic outlook.The Conference Board said Tuesday its consumer confidence index fell 7.9 points to 86 in April, which is the lowest reading since May 2020. Economists polled by Reuters had projected the index would slide to 87.5.The Expectations Index, based on consumers' short-term outlook for income, business and […]

General Motors is recalling nearly 600,000 vehicles in the U.S. because of a potential problem with certain parts that could cause engine failure.The vehicles recalled include the 2021-2024 Cadillac Escalade, Cadillac Escalade ESV, Chevrolet Silverado 1500, Chevrolet Suburban, Chevrolet Tahoe, GMC Sierra 1500, GMC Yukon and GMC Yukon XL vehicles featuring 6.2-liter V8 gas engines, a National Highway Traffic Safety Administration (NHTSA) recall report said.Inside their engines, the connecting rod […]

Walt Disney World is currently hosting one of its largest Make-A-Wish events ever, the Once Upon A Wish Party.Nearly 50 Make-A-Wish families are taking part in the two-day adventure that took more than 500 cast members to bring to life."It's an incredible feeling to be a part of a company with a long legacy of giving back and making a difference," Tajiana Ancora-Brown, the director of external affairs at Walt […]

Michiganders are expected to have more manufacturing opportunities for jobs in the energy sector.Corning Inc. is ramping up its investment in Saginaw County, Michigan, from $900 million to $1.5 billion, which is projected to generate an additional 400 "high-paying advanced manufacturing" roles at the facility, which will bring the total number of jobs there up to 1,500.The facility will make solar-related items, as the company says there is more of […]

Amazon launched its first batch of satellites into orbit on Monday in the company’s first step toward rivaling Elon Musk's Starlink satellite constellation.Amazon's Project Kuiper sent 27 satellites up in a United Launch Alliance (ULA) Atlas V rocket from Cape Canaveral Space Force Station in Florida. The first batch of satellites will form the beginning of a mega constellation that will provide high-speed and affordable internet service to almost any […]

Thousands of jobs could be on the horizon for American workers as drug manufacturer Merck takes steps to move manufacturing into the U.S., particularly in the form of a $1 billion state-of-the-art biologics center under construction in Wilmington, Delaware.In a FOX Business exclusive, company CEO Robert Davis told "Mornings with Maria" the effort will take time as Merck builds the capability, but the payoff could mean stable access to drugs […]

Shein has implemented price hikes for U.S. customers in response to U.S. tariffs implemented by President Donald Trump.The e-commerce company, which was founded in China, rolled out U.S. price increases on a broad range of items starting Friday, Bloomberg reported. The higher prices hit items in several categories, including women’s clothing, home and kitchen, toys, and beauty and health, among others, according to the outlet.For instance, among the top 100 women’s clothing […]

U.S. corporate bond spreads tightened to a four-week low late last week as concerns surrounding a near month-long global trade war appeared to calm.Market risk stemming from President Donald Trump's trade policies has rocked the U.S. corporate bond market for several weeks following an April 2 announcement of widespread tariffs. But they appear to have calmed in the week following his decision to pause the levies on most countries except […]