Business

Netflix co-founder Reed Hastings will not seek re-election to the company's board.He is currently the chair of the streaming entertainment giant's board of directors."Reed Hastings has informed us that he will not stand for re-election to our Board when his current term expires at the Annual Meeting in June, in order to focus on his philanthropy and other pursuits," the company wrote in a recent Securities and Exchange Commission report.NETFLIX […]

Oil prices plummeted more than 10% on Friday after Iran's foreign minister said that the Strait of Hormuz will be open to all commercial shipping traffic for the duration of the ceasefire between Israel and Lebanon.Prices for West Texas Intermediate crude fell over 10% to under $85 a barrel, while Brent crude oil prices dropped more than 10% to around $89 a barrel.The plunge in oil prices comes after Iranian […]

Fans planning to use New Jersey's NJ Transit to travel from New York City to MetLife Stadium for FIFA World Cup games this summer will have to pay $150 for a round-trip ticket, officials confirmed on Friday.The fare would apply to fans taking NJ Transit's rail service from New York City's Penn Station to MetLife Stadium, with a stop at Secaucus station.News of the pricing was first reported by The […]

DoorDash is rolling out new advertising features to help restaurants find customers who are more likely to order from them, bring in new diners and expand their business more efficiently.In a news release shared by the company on Thursday, three new tools have been added to the online food ordering/delivery platform to help restaurants quickly gain regular customers. "Restaurant brands want to reach customers who will genuinely enjoy their food and […]

More than 50,000 pet laser toys are being recalled across the U.S. after officials warned they pose a "serious risk of injury or death" to children.The recall affects about 51,160 "Lil’ Buddies Pet Laser Toys" sold by Los Angeles-based JC Sales. The products fail to meet mandatory safety standards for items containing button cell and coin batteries, according to a Thursday notice from the United States Consumer Product Safety Commission […]

A growing push for higher taxes on wealthy homeowners in New York is intensifying the debate over how far states should go to raise revenue, as policymakers weigh the broader economic impact on investment, housing and taxpayer behavior.FOX Business’ Connor Hansen joined FOX Business’ Stuart Varney on "Varney & Co." to report on the latest proposals, which center on a new tax targeting high-value second homes owned by nonresidents.The proposal […]

The head of the International Energy Agency says Europe has "maybe 6 weeks or so jet fuel left" amid shortages due to Iran's blockade of the Strait of Hormuz, the Associated Press reported Thursday.IEA Executive Director Fatih Birol offered the analysis in an interview, telling the AP that the Hormuz situation has caused "the largest energy crisis we have ever faced.""In the past, there was a group called ‘Dire Straits.’ […]

PepsiCo said Thursday its push to make snacks more affordable is bringing customers back, offering an early sign that consumers are starting to return after pulling back in recent years.The company reported stronger-than-expected quarterly results, with both revenue and profit rising. A notable change came in its North American food business, where demand for products like chips and snacks showed early signs of recovery.After a stretch where higher prices weighed […]

Mortgage rates fell this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.3% from last week's reading of 6.37%. The average rate on a 30-year loan was 6.83% a year ago.MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD'S RISKIEST HOUSING MARKET FOR BUBBLE RISK"Compared to one year ago when rates were […]