Business

Federal Reserve Chair Jerome Powell said that the U.S. economy is facing a supply shock from the disruption of Middle East oil supplies after previous shocks like the COVID-19 pandemic and tariffs pushed prices higher.Powell spoke to an economics class at Harvard University on Monday and said that the series of supply shocks has kept inflation elevated above the central bank's 2% long-run target despite progress in slowing the pace of price […]

The growing alignment between China, Russia, and Iran raises new concerns about the trajectory of the conflict in the Middle East as questions mount over how far Beijing's support could shape the outcome.Gatestone Institute senior fellow Gordon Chang joined FOX Business' Maria Bartiromo on "Mornings with Maria" to discuss how China's expanding role alongside Iran is complicating U.S. strategy and shifting the balance on the ground.Those concerns come as Iran […]

Power strips sold on Amazon are being recalled due to a fire risk, the Consumer Product Safety Commission said.The recall involves CCCEI-branded power strips sold by Middle Way Electronics with 6-foot, 10-foot and 15-foot power cords. The strips have a black metal enclosure with six receptacles and individual on/off switches for each one. The defective units were made in China.The CCCEI-branded power strips do not contain supplementary overcurrent protection, which […]

A Delaware judge on Monday reassigned several lawsuits involving Elon Musk after lawyers for the Tesla CEO accused her of bias over a LinkedIn post that appeared to mock the billionaire. In a filing, Delaware Court of Chancery Chancellor Kathaleen St. J. McCormick said that she will reassign a group of lawsuits to another judge after Musk's lawyers pointed to a social media post in which she allegedly appeared to support […]

Air Canada said Monday that President and CEO Michael Rousseau will retire by the end of the third quarter of 2026, capping nearly two decades with the company.The announcement comes the same month as a fatal crash involving an Air Canada Jazz flight from Montreal at New York's LaGuardia Airport.In its statement, Air Canada framed the move as part of a long-running succession process, saying internal development work had been […]

Fresh data from the IRS shows that Americans' average tax refunds in the 2026 filing season have risen significantly from last year as the filing deadline approaches.IRS data through March 20 showed that the average tax refund amount has risen to $3,571 in the 2026 filing season to date, an increase of $350 or 10.9% from the $3,221 average refund at this stage of the filing season in 2025.The total amount refunded […]

Costco is set to debut its first stand-alone gas station this summer in Mission Viejo, California, marking a major expansion of its fuel operations, with a second location in Hawaii slated to open next year.The California location, located roughly 50 miles from Los Angeles, is expected to open in late June, according to local outlet KABC, citing city officials. It will become the chain’s largest gas station, featuring 40 pumps.A […]

Thousands of ready-to-eat pizza and bread products were recalled over the potential presence of metal fragments, according to the Food and Drug Administration.North Carolina-based Bakkavor voluntarily initiated the recall on Jan. 19, according to the FDA.Last week, the health agency classified the alert as a Class II recall, which means "use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the […]

Investigators reportedly found cocaine and fentanyl hidden inside Barbie doll packaging that had been sold to multiple unsuspecting customers in Missouri last weekend.The incident occurred on March 21 after discount retailer Cargo Largo reported finding a "suspicious powder substance" in the packaging of the dolls, the Independence Police Department (IPD) reported. Officials determined that five compromised units were sold but were able to recover all the affected items within hours of launching […]