Business

Google co-founder Sergey Brin is continuing his foray into California politics with a newly reported donation to a group fighting against a proposed tax in San Francisco that would hit companies with high-paid executives in the tech hub.A political contribution filing submitted on Wednesday revealed that Brin donated $500,000 to a group that's opposing San Francisco Measure D, which will appear on voters' ballots on June 2.Advocates for the measure […]

The Supreme Court dealt a major blow Thursday to four major cruise lines accused of profiting from Cuban property seized during Fidel Castro’s communist revolution, reviving lawsuits that could cost the companies hundreds of millions of dollars.In an 8-1 ruling, the justices sided with Havana Docks Corporation, a U.S. company that operated docks in Havana before the Cuban government took the property in 1959.The decision revives more than $440 million […]

A top U.S. defense contractor pulled back the curtain on next-generation AI-powered systems designed to hunt down and destroy swarms of enemy drones as the U.S. rapidly expands its next-generation warfighting capabilities."We are inserting technology of all types into our systems," Lockheed Martin CEO Jim Taiclet told FOX Business on Thursday, detailing the company's AI-powered counter-drone system, Sanctum.Taiclet said the system uses artificial intelligence to detect incoming drones, determine whether […]

Hard-working Americans could soon face another blow at the checkout counter.Retail giant Walmart issued a warning Thursday after its Q1 earnings report, signaling that rising fuel costs could soon hit consumers at the checkout counter as seasonal tax-refund boosts dry up and inflation outpaces wages for the first time in years."I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a […]

Detroit’s historic bankruptcy case — the largest municipal bankruptcy in U.S. history — has officially closed more than 13 years after the city first sought Chapter 9 protection amid a financial collapse that reshaped the city’s finances, pensions and long-term fiscal strategy.U.S. Bankruptcy Judge Thomas Tucker granted the city’s motion for a final decree this week, formally ending the case after determining administration of the bankruptcy had been completed.The closure […]

The federal government is projected to run a budget deficit of at least $2 trillion this fiscal year, according to an estimate by the Treasury Department and bond market participants.Earlier this month, the Treasury released its quarterly refunding documents for the second quarter of the calendar year, which included estimates of needed borrowing over the next two quarters of fiscal year 2026 as of April.It showed that the White House […]

Standard Chartered CEO Bill Winters on Wednesday walked back comments he made at an investor event Tuesday when he said the bank plans to cut thousands of jobs as it replaces what he called "lower-value human capital" with tech powered by artificial intelligence (AI).Winters wrote a memo to the bank's employees on Wednesday in which he sought to address concerns that arose following his comments on Tuesday, according to a […]

One of the top-tier golf simulator companies in the country has stepped it up a notch.Five Iron Golf, which has spread from its roots in New York City to over 50 locations worldwide, has launched Five Iron Tournaments, a real-money indoor golf tournament platform that turns Five Iron’s national venue network into an always-on competitive golf ecosystem.The platform, expected to be fully rolled out by the end of this summer, […]

Sporting brand powerhouse Fanatics and American Express announced Wednesday a partnership that will allow Amex users to tap into their sports fandom.The bank holding company is now the Official Payments Partner across select Fanatics online and retail locations worldwide and a presenting sponsor at Fanatics Fest, one of the world’s premier sports fan festivals held annually in New York City. "Nearly 80% of U.S. American Express Consumer Card Members identify as sports fans and this partnership […]