Business

President Donald Trump rolled out additional tariffs on China this week despite bipartisan warnings that the move could hurt American consumers and businesses.The Trump administration announced Wednesday it would alleviate reciprocal tariffs on other countries for 90 days, while also revealing that his administration would immediately hike tariffs on Chinese goods to 145%. In response, China raised its tariffs on U.S. goods to 125%. It won’t take long for consumers and […]

Consumer sentiment declined sharply in April as 12-month inflation expectations surged to the highest level since 1981 amid President Donald Trump's escalating trade war.The University of Michigan's Surveys of Consumers on Friday reported that its Consumer Sentiment Index dropped to 50.8 this month from 57 in April, a steeper decline than the 54.5 forecasted by economists polled by Reuters. It marked the fourth straight monthly decline in consumer sentiment."This decline was pervasive […]

The CEOs of two of America's largest banks discussed how President Donald Trump's tariffs and other factors are impacting the economy and markets with the release of their quarterly earnings reports on Friday.JPMorgan Chase CEO Jamie Dimon and Wells Fargo CEO Charlie Scharf each discussed Trump's tariffs in letters included with their firms' respective earnings reports on Friday. Dimon, who wrote in a letter to shareholders earlier in the week that tariffs are […]

A top Siemens AG executive from Spain, along with his wife and three children, have been identified as being among the six victims who died when a helicopter plunged into New York City's Hudson River on Thursday. The helicopter's 36-year-old pilot also perished.Agustin Escobar worked for the German global technology company for more than 27 years, most recently as global CEO for rail infrastructure at Siemens Mobility, a Siemens spokesperson told […]

Corporate bankruptcies among U.S. companies increased in the first quarter to their highest level since 2010, new data showed.S&P Global Market Intelligence reported that from January through the end of March, there were 188 bankruptcies filed among large U.S. companies, an increase from 139 bankruptcy filings in the first quarter of 2024, which was a 14-year high at the time.The 188 bankruptcies in the last three months are the most in […]

The CEO of Eos Energy on Thursday discussed the battery-making company bringing its manufacturing back to the U.S. several years ago and competing with China with FOX Business’ Jeff Flock.Eos Energy brought the manufacturing of its "long duration energy storage (LDES) systems" back to the U.S. from China in 2018. The battery maker now produces its batteries in Turtle Creek, a city located in Pennsylvania’s Monongahela Valley. "We not only innovated […]

Mortgage rates ticked lower this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell slightly to 6.62% from last week's reading of 6.64%. The average rate on a 30-year loan was 6.88% a year ago."The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the twelfth consecutive week," said […]

President Donald Trump and his administration's negotiation blitz with dozens of nations after pausing reciprocal tariffs will solidify him as the U.S.'s "deal-maker-in-chief" as he focuses on bringing parity to the country's chronic trade deficit, administration officials told Fox Digital. On Wednesday, Trump put a 90-day pause on reciprocal, customized tariffs he had imposed on dozens of nations, which was an abrupt change of course after saying there would not be […]

For Flags of Valor – a veteran-owned and operated business that has shipped more than 96,000 flags to doorsteps nationwide – the phrase "made in America" lies at the foundation of everything it stands for."For over 10 years, we’ve been saying the same thing – we build American products, on American wood, with American tools, made by American hands," Flags of Valor founder and military veteran Brian Steorts told FOX […]