Business

Best Buy announced on Wednesday that it is promoting a longtime executive to chief executive as the consumer electronics retailer navigates shifting demand and intensifying competition across the retail sector.The company said that Jason Bonfig — currently its chief customer, product and fulfillment officer — will become CEO on Oct. 31, succeeding Corie Barry, who plans to step down after seven years in the role. Bonfig will become just the […]

Rising beef prices are drawing renewed scrutiny as federal investigators examine whether market dynamics or potential misconduct, are driving costs higher for American consumers.FOX Business’ Jeff Flock joined FOX Business’ Stuart Varney on "Varney & Co." to report on a new Justice Department criminal investigation tied to the surge in beef prices as households continue to feel the strain at grocery stores.POPULAR BABY FOOD BRAND HIT BY 'CRIMINAL ACT' AS […]

California officials allege Amazon may have quietly driven up prices across the internet by pressuring retailers and brands not to undercut its listings, according to newly unsealed court evidence.The allegations, revealed Monday as part of the state’s antitrust lawsuit, claim Amazon worked behind the scenes with companies like Levi Strauss and others to influence pricing at competitors, including Walmart, Home Depot and Chewy.In one example cited by the state, Levi’s […]

Concerns about artificial intelligence behaving unpredictably are gaining attention following a recent experiment involving leading AI models, though experts remain divided on what the findings actually demonstrate.President's Council of Advisors on Science and Technology Co-Chair David Sacks joined FOX Business’ Maria Bartiromo on "Mornings with Maria" to address claims tied to an Anthropic study examining so-called "agentic misalignment."ELON MUSK BACKS ‘UNIVERSAL HIGH INCOME’ TO COMBAT AI JOB LOSSESThe study, highlighted […]

The Justice Department is reportedly pursuing a criminal antitrust investigation of large meatpacking companies after President Donald Trump called for them to face a probe over the higher prices facing consumers.The Wall Street Journal reported, citing sources familiar with the matter, that while the DOJ indicated it was investigating beef companies following the president's request, the criminal nature of the probe hasn't been disclosed previously.Trump claimed in November that beef […]

Costco is betting big on a massive global expansion strategy, aiming to open 30 new warehouses annually over the next decade.Driven by a combined goal to fix overcrowded stores and record-breaking demand, the retail giant is moving into new territories like Port St. Lucie, Florida, while eyeing a 50-50 split between U.S. and international growth. For the American consumer, this could mean shorter lines, better parking and more access to […]

California's housing market is seeing an increase in inventory while the state's population growth slows, but strong demand stemming from longstanding scarcity has kept the market tight.An analysis by the Public Policy Institute of California (PPIC) found that the state added 677,000 housing units over a six-year period in which California's population grew by only 39,000 residents.Despite the relative growth in the number of housing units available, vacancy rates showed […]

Kevin Warsh, President Donald Trump’s pick to lead the Federal Reserve, is set to deliver a pointed message to lawmakers Tuesday: the Fed must stay independent on interest rates, but not above accountability.In prepared remarks obtained by FOX Business, Warsh vows to keep monetary policy "strictly independent," while making clear the central bank should not operate unchecked across its broader responsibilities."The Fed must stay in its lane. Fed independence is […]

Amanda Cruz thought she was playing it safe, as the New Jersey real estate agent recently placed an offer for a client at $150,000 over the asking price — a figure she feared was "a little bit high for the market."It turns out she wasn't even close."Someone else came in much higher than us. Like, we weren't even in the ballpark," Cruz explained in a now-viral social media post currently […]