Business

U.S. retail sales rose more than expected in March as consumers frontloaded big-ticket purchases to get ahead of anticipated tariff-induced price hikes.The Commerce Department released its data for March on Wednesday, which showed retail sales increased 1.4% on a monthly basis, a bigger gain than the forecast of a 1.3% rise that was projected by LSEG economists.When excluding vehicle purchases, retail sales were up 0.5% in March, which also surpassed the […]

Roughly 20,000 workers at the Internal Revenue Service (IRS) have expressed interest in the most recent buyout offer from the Trump administration, FOX Business has learned.An agency source told FOX Business that about 20,000 workers have indicated they are considering the buyout offer that was recently extended by the Trump administration and is similar to the offer extended broadly across federal agencies earlier this year.Reuters reported that the deferred resignation offer […]

Spotify said it is working to resolve an outage that's preventing its app and website from properly loading on Wednesday morning.The Swedish audio streaming and media service posted on X just before 10 a.m. ET that it is aware of the issues and that the "right team is on it and working on a fix." Spotify elaborated on its community website, saying that some users reported that the app wasn't loading. […]

United Airlines is trimming the number of domestic flights it will offer over the coming months as the industry remains concerned about lackluster demand stemming from the escalation of President Donald Trump's tariffs.The Chicago-based carrier said in a regulatory filing on Tuesday that it is cutting domestic capacity by about 4% starting in the third quarter of 2025, "in response to the current demand environment." The airline's third quarter covers […]

Rivian founder and CEO RJ Scaringe on Tuesday discussed the Trump administration’s tariffs and how the electric vehicle (EV) maker is navigating them during an appearance on "The Claman Countdown." Scaringe told host Liz Claman that consumers have a "lot of questions" about "what’s going to happen" with the pricing and availability of vehicles in the U.S. amid President Donald Trump’s tariffs and that Rivian is "trying to navigate that as […]

Rep. Ayanna Pressley, D-Mass., sounded off on President Donald Trump's "tax scam" during a Tax Day press call hosted by the Democratic National Committee (DNC), accusing the Trump administration of prioritizing handouts for the "ultra-wealthy" over American families. Pressley said Trump, who is less than 100 days into his second non-consecutive term, has yet to deliver on his 2024 campaign promise to bring down costs for working Americans."How's that going? Are […]

Billionaire Elaine Wynn, who worked with her then-husband Steve Wynn to launch Wynn resorts, died Monday at the age of 82.Elaine and Steve Wynn co-founded the Mirage Resorts in 1976 and Wynn Resorts in 2000. They went on to build the Wynn Las Vegas, which at the time was the most expensive resort ever built and became the most profitable in the gambling mecca, the Las Vegas Review-Journal reported.The two first married […]

Videos posted by Chinese TikTok users that suggest people should purchase fashion items direct from factories in China have surfaced in the U.S. in recent weeks, according to Bloomberg.The videos claim many apparel brands such as Nike and Lululemon get their products from Chinese factories, with some praising the quality of Chinese manufacturing, the outlet reported Monday.They appear to be seeking to spur American consumers to get apparel and accessories […]

A new report by Goldman Sachs examining how President Donald Trump's tariffs will impact the labor market found that while it may spur a rise in manufacturing employment, job losses in other industries impacted by tariffs would lead to a net negative impact on employment across the economy.Goldman Sachs economists led by Jan Hatzius reviewed historical and academic studies about the impact of tariffs on the labor market in industries protected […]