Business

Elon Musk confirmed Wednesday that Tesla will stop producing its Model S and Model X premium sedans and SUVs, marking the end of an era for its longest-running models, according to reports.The move came as the company pivots toward autonomous technology and robotics and its earnings report showed revenue last quarter fell 3% to $24.9 billion.Speaking on Tesla’s fourth-quarter 2025 earnings call Wednesday, Musk said production of the Model S […]

Steak ’n Shake announced Wednesday that it will contribute $1,000 to "Trump Accounts" for the children of its employees.The Indianapolis-based fast-food chain is the latest company to support the Trump administration’s new investment initiative for newborns. In a post on X, Steak ’n Shake described the program as a way to ensure "the next generation of Americans participate from birth in our free-market, wealth-building economy.""Steak 'n Shake pledges to support […]

One of America’s largest unions has made a public declaration regarding California’s hotly-debated billionaire wealth tax.Teamsters California and its 250,000 members have formally backed state legislation proposing a one-time 5% tax on the net worth of California residents worth more than $1 billion."The fight to pass the California Billionaire Tax is a fight to protect workers’ ability to afford living in California; it's a fight Teamsters California will continue to […]

Demand is rebounding at Starbucks, signaling that CEO Brian ​Niccol's turnaround efforts are working. The company said on Wednesday that sales at North American stores open for at least a year rose by 4%. This growth was mainly due to a 3% increase in purchases from existing customers and a 1% increase in the average amount spent per transaction. That's the first uptick in store sales in eight quarters. Globally, sales at […]

New York City tops the list of U.S. cities where the cost of living is rising fastest, followed by three cities in California, according to a new analysis of inflation rates across major metropolitan areas.The analysis, first shared with Fox 5 New York, was conducted by Plasma, a layer-1 blockchain company focused on stablecoin payments. It examined inflation trends across 30 of the most populous U.S. cities.The study used a […]

United Postal Service CEO Carol Tome said Tuesday that the company is officially retiring its fleet of McDonnell Douglas MD-11 cargo planes after one of them was involved in a deadly crash in Louisville. Tome told analysts on its fourth-quarter earnings call that the shipping giant has taken a "systematic programmatic approach to modernizing" its global air fleet, which included "the decision to accelerate our plans and retire all MD-11 aircraft […]

As gold prices keep rising, American economist Peter Schiff says investors should view the rally as more than a hedge — calling it a warning that inflation is speeding up, the U.S. dollar is losing global trust and a major economic reckoning may be near."Gold and silver are warning about a bigger crisis that's gonna hit either later this year or maybe next year. We are headed for a U.S. […]

Restaurant franchiser FAT Brands, which owns popular fast-casual chains including Fatburger, Johnny Rockets and Twin Peaks, has filed for bankruptcy amid a mounting debt of roughly $1.3 billion.The California-based company, which oversees 18 restaurant brands with more than 2,200 locations worldwide, filed for Chapter 11 bankruptcy in Texas on Monday.Its subsidiary, Texas-based Twin Hospitality Group, which spun off from FAT Brands in 2025 primarily to operate the Twin Peaks sports […]

President Trump was in Iowa today riffing about closing the border, safety and law and order in the country, including by the way, Minnesota, reminding everyone that "even in Minnesota, the crime is down. And you know why? Because of what we did. We took out thousands of criminals, career criminals, bad criminals, people that came in from Venezuela."And he’s also speaking about the Trump boom. Even today, the S&P […]