Business

More than 40,000 bicycle helmets sold at Walmart are being recalled by the U.S. Consumer Product Safety Commission because they violate federal safety standards and pose a "serious risk of injury or death" from head injuries.Todson Inc., a bicycle wholesaler in Massachusetts, is recalling 40,245 Concord-branded 360 Degree Rechargeable Light-Up bike helmets after federal safety officials said the helmets failed to comply with mandatory retention system and positional stability requirements. "The […]

Layoffs eased in February as new data showed that U.S. employers announced fewer job cuts last month after they were elevated to start the year, new data shows.U.S. employers announced 48,307 job cuts in February, according to a report by global outplacement and executive coaching firm Challenger, Gray & Christmas. That figure is down 55% from the 108,435 job cuts announced in January, while it's also down 72% from the 172,017 […]

Amazon is continuing its workforce reductions, cutting at least 100 white-collar jobs in its robotics unit this week, according to a new report.The affected division designs robots and other automation systems used primarily in Amazon warehouses, two people familiar with the matter told Reuters."We regularly review our organizations to make sure teams are best set up to innovate and deliver for our customers," Amazon said in a statement, without specifying […]

Virginia has filed a notice announcing plans to appeal a judge's preliminary injunction blocking the enforcement of the state's law restricting the amount of time that minors under 16 can be on social media to one hour today.While U.S. District Judge Patricia Tolliver Giles admitted that the prevalence of social media and overexposure to it "can [undoubtedly] impact minors," she ultimately granted the preliminary injunction, citing First Amendment concerns."The issues […]

Mortgage rates ticked higher to 6% 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 rose to 6% from last week's reading of 5.98%. The average rate on a 30-year loan was 6.63% a year ago."In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, […]

Morgan Stanley, one of the world’s largest investment banks, is cutting 3% of its workforce, roughly 2,500 employees, across all business divisions.The job cuts impacted Morgan Stanley’s three major divisions — investment banking and trading, wealth management and investment management — but not its financial advisors, FOX Business confirmed.The cuts were based on business priorities, location strategy and individual performance, and the bank plans on adding resources in other areas. […]

American shoppers are being urged to check their freezers after nearly 37 million pounds of frozen food products were recalled over concerns they may be contaminated with glass.Ajinomoto Foods North America has expanded last month’s recall to include an additional 33,617,045 pounds of frozen ready-to-eat and not-ready-to-eat chicken and pork fried rice, ramen and shumai dumpling products, according to a notice issued Tuesday by the Department of Agriculture’s Food Safety […]

Apple is expanding its product lineup with a lower-priced iPhone.The California-based tech giant on Monday introduced the iPhone 17e, a more affordable addition to its iPhone 17 family, starting at $599. The device is available in black, white and soft pink.The iPhone 17e starts with 256GB of storage, doubling the base capacity of the previous generation at the same starting price.APPLE IMPLEMENTING AGE VERIFICATION TOOL TO ENSURE USERS ARE 18 […]

Starbucks is growing its corporate footprint and plans to open a new office in the South later this year.The Seattle-based coffee company will establish an office in Nashville, Tennessee, as part of its broader plan to expand across North America, especially in the central U.S., the South and parts of the Northeast, according to an internal message sent Tuesday and reviewed by FOX Business."To support these ambitions, we have made […]