Business

FedEx and UPS said they will return tariff refunds to customers after a Supreme Court ruling opened the door to potentially billions of dollars in reimbursements tied to Trump-era import taxes.The companies said they plan to pass along any recovered funds as the federal government begins processing refund claims for duties collected under the International Emergency Economic Powers Act (IEEPA), a move that could affect a broad swath of importers.UPS […]

This story about the March 2026 PCE inflation is developing and will be updated with more details.The Federal Reserve's preferred inflation gauge remained stubbornly high in March as consumers continued to face elevated price growth.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.7% on a monthly basis in March and is up 3.5% from a year ago. Both figures were in-line with the expectations of economists […]

This story about the Federal Reserve's April interest rate decision is developing and will be updated with further details.The Federal Reserve on Wednesday announced it will leave interest rates unchanged amid concerns about inflation rising further amid the war in Iran.Fed policymakers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the central bank's decision to hold rates steady in […]

The AAA national average price for regular gas has soared to $4.229 as of Wednesday, the highest notched so far during the ongoing tensions between the U.S. and Iran.While that number is more than a dollar higher than the AAA national average of just $3.161 a year ago, it is still significantly lower than the highest recorded AAA national average of $5.016 set in June 2022 during President Joe Biden's […]

Maine has officially joined the ranks of high-tax blue states as Democratic Gov. Janet Mills signed a controversial new millionaire tax into law, sparking immediate warnings that the move will punish local business owners and stifle investment.Effective Jan. 1, 2026, the new law bypasses traditional Republican opposition to implementing a permanent income tax surcharge as it was included in a supplemental budget bill. The legislation, titled LD 2212, allows for […]

California lawmakers are calling for the state's high-speed rail project to be scrapped after projected costs have ballooned by more than 700%."This is a project that will never be built, and everybody in this building knows this project will never be built for the people of California and we keep wasting billions of dollars at a time where we have budget deficits," state Sen. Tony Strickland, vice chair of the […]

Kevin Warsh's nomination to serve as the next Federal Reserve chair took a big step forward on Wednesday after a key committee voted to advance his nomination after a senator lifted his opposition.Members of the Senate Banking Committee voted 13-11 to send Warsh's nomination to the full Senate for a confirmation vote that could occur soon.Warsh, a former Federal Reserve governor who served at the central bank from 2006 to […]

Tech billionaire Elon Musk's legal battle against OpenAI kicked off with a bang on Tuesday, with his attorney alleging CEO Sam Altman "stole a charity" to build a massive, profit-driven empire.In a federal courtroom in Oakland, California, Musk's lawyer, Steven Molo, told jurors that OpenAI completely abandoned its founding mission to safely develop artificial intelligence for the benefit of humanity. Instead, Molo argued, OpenAI transformed the organization into a "profit-seeking juggernaut" […]

Billionaire business tycoon Elon Musk indicated last year that he would donate to support Rep. Thomas Massie's, R-Ky., re-election bid — but Massie told Fox News Digital on Tuesday that, as far as he is aware, Musk never donated to his campaign.The congressman emphasized that he still holds Musk in high regard."Elon’s done more for America than any other entrepreneur-inventor this century. I think he found it’s easier to land […]