FOX Business Briefs 6/25
More homeowners find themselves underwater; mortgage rates rose slightly; FedEx expects its business to take a hit because of tariffs on imports from China; gas prices are down for the summer driving season.
Tommy Tuberville: Politics has to be taken out of the 'mess' that is the US financial state
Sen. Tommy Tuberville, R-Ala., discusses the Federal Reserve, the state of the national debt, and the 'big, beautiful bill' on 'The Bottom Line.'
We must ‘control our long-term borrowing,’ GOP lawmaker says
Rep. Byron Donalds, R-Fla., discusses Fed Chair Jerome Powell's hearing on Capitol Hill and the state of the Federal Reserve on ‘The Evening Edit.’
Powell to be pressed on Fed spending, agency’s politicization
Jerome Powell returns to Capitol Hill where Republicans plan to challenge the Fed's $2.5 billion headquarters renovation featuring marble and rooftop gardens amid inflation concerns.
FOX Business Briefs 6/24
Walmart and Target threaten shoppers with $2,500 fines; Artificial Intelligence app for doctors raises $300 million in funding; AMC Theatres adds pre-show 'platinum spot' ad; 'St. Elmo’s Fire' gets a special 40th anniversary 4K release.
FOX Business Briefs 6/24
RPT: Audi weighs $4.6B U.S plant to avoid tariffs; Official: L.A. anti-ICE riots cost taxpayers $30M+; WSJ: Meta luring tech experts for new super-intelligence lab; Amazon: Beauty will be a big seller for Prime Day
Electricity prices spike for American households: Here's what's driving costs higher
Electricity costs in the United States are surging as demand hits record highs from data centers, artificial intelligence computing and extreme weather.
If the tax rate is not extended, it will be a 'real shock to the system,' Bank of America CEO says
Bank of America Chairman and CEO Brian Moynihan weighs in on the geopolitical climate's impact on markets, wealth transfer, President Donald Trump's 'big, beautiful bill' and more during his sit-down interview on 'Mornings with Maria.'
Buy now, pay later loans will now impact Americans' credit scores
FICO credit scoring models will be the first to include buy now, pay later data as the payment method continues to surge in popularity among American consumers.
America headed for 'economic heart attack' on government debt, spending warns billionaire
America faces potential "economic heart attack" as billionaire Ray Dalio warns about chronic overspending, $37 trillion debt and deficit concerns, including those tied to Trump's tax bill.
Karen Read's vindication in murder trial could turn into mid-to-high six-figure publishing payday
Former professor Karen Read owes millions in legal fees after her acquittal in the death of Boston Police Officer John O'Keefe. Her defense team charged up to $1,500 per hour.
Hackers target insurance giant in ongoing industry cyber spree
Aflac detects network breach where sophisticated cybercriminals may have stolen customer data including health information and social security numbers through social engineering.
Billionaire Telegram CEO reveals plans to divide wealth among more than 100 children
Billionaire and Telegram CEO Pavel Durov revealed to a French magazine that he recently made plans for his will and how he plans to divide his wealth.
Americans face vastly different retirement costs across states as Social Security cuts loom
A study calculated the amount of money a "comfortable" retirement would require without Social Security factored in and the associated yearly expenses a retiree would face in each U.S. state.
Social Security trust fund now projected to run dry in 2034, triggering massive benefit cuts
The Medicare and Social Security trust funds are lurching toward insolvency. Social Security is projected to cover only 81% of benefits by 2034 and Medicare just 89% by 2033.
Seven suspects charged in daring $100M jewelry heist authorities call 'largest' in US history
Federal authorities have charged seven people with carrying out a 2022 jewelry heist that officials have called the "largest" in American history.
Trump’s deportation efforts will ‘affect the food chain,’ restauranteur warns
‘Good Day New York’ co-host Rosanna Scotto discusses the potential ramifications on President Donald Trump’s immigration and economic policies on ‘Varney & Co.’
New analysis projects Social Security's COLA for 2026 will be higher than previous estimates
A new analysis by The Senior Citizens League found the Social Security COLA for 2026 could be 2.5%, higher than previously projected after inflation ticked higher in May.
Newsom challenger says Californians are ‘sick’ of its politics and the ‘tide is turning’
California gubernatorial candidate Steve Hilton breaks down his plan to straighten out the state’s political policies.
American Express set to unveil game-changing update to its elite Platinum cards
Big updates are in the works for American Express' Platinum consumer and business credit cards in the US later this year, according to a Monday announcement from the company.