Business

JPMorgan CEO Jamie Dimon still isn't a fan of Bitcoin but he's not letting his personal feelings get in the way of business at the bank. "When I look at the Bitcoin universe, the leverage in the system, the misuse," he said at the company’s annual investor day Monday in New York. Noting that bad actors can use it for sex trafficking and terrorism. "I am not a fan of it. We […]

Barstool Sports founder and President Dave Portnoy isn’t afraid of dipping into hot water over his take on former President Joe Biden’s seemingly late cancer diagnosis."This is a question I think people deserve answers to," Portnoy said on "Varney & Co." Tuesday. "I mean, you got Chuck Schumer, you got Pelosi, Obama, whether he's involved. And obviously Kamala knew, too. She's family, [she] said, 'I'm the last person in the […]

General Motors (GM) is halting the export of some U.S. vehicles to China. The Detroit-based automaker had been doing so through the Durant Guild, a "lifestyle platform" that the Detroit-based automaker created in 2022 to make certain U.S. vehicles available in the country. Employees and dealers for its China export business received notification about its move to stop shipping vehicles to China from the United States late last week, Reuters reported."The Durant […]

Home Depot said Tuesday that it doesn't plan to raise prices because of tariffs, defying a broader trend in the retail industry. "We intend to generally maintain pricing across our portfolio. We'll continue to use the portfolio approach that we've talked a lot about in the past, but we don't see broad-based price increases for our customers at all going forward," William Bastek, executive vice president of merchandising, told analysts during […]

JPMorgan Chase CEO Jamie Dimon on Monday criticized financial regulators for not easing rules that are raising costs for borrowers buying a home that he says are unnecessary.Dimon was speaking at JPMorgan Chase's annual investor day, which was held virtually, and discussed his frustration with mortgage lending rules that increase costs and make homeownership less affordable for lower-income buyers."I've mentioned over and over, the cost of mortgages is like 50 […]

Moody's Ratings on Friday announced a downgrade of the U.S. government's credit rating, moving it down a notch from the ratings agency's top tier amid concerns about the rising national debt, which could have implications for the larger market.Credit ratings are used by analysts to determine the creditworthiness of debt issued by a government or a corporation. Higher credit ratings at or near the top of the rating scale are […]

About 50 years ago, Art Laffer drew a convex curve on a napkin to illustrate the power of tax cuts to two senior officials from the Ford administration named Donald Rumsfeld and Dick Cheney.Unfortunately, they didn’t take his advice, and they raised taxes in order to reduce economic demand, which they erroneously thought would conquer inflation. They were wrong.The economy went into a deep recession and inflation wasn’t conquered until Ronald […]

The California Avocado Commission (CAC) is urging the Trump administration to take actions to help protect the Golden State’s avocado industry from insect pests in Mexico.In a new report, the trade association issued a series of recommendations that it thinks the Trump administration and the U.S. Department of Agriculture (USDA) should take up to keep pests in Mexico from seriously hurting California’s billion-dollar avocado industry.Chief among the recommendations was returning […]

Newark Liberty International Airport in New Jersey suffered from staffing issues and a radio outage on Monday, weeks after a previous radio outage was reported at a nearby Federal Aviation Administration (FAA) station.The FAA told Fox News that Philadelphia TRACON Area C "lost radio frequencies" at around 11:35 a.m. on Monday. The delay lasted two seconds."All aircraft remained safely separated," the statement added. "The FAA is investigating."Also on Monday, the […]