Business

A bipartisan group of lawmakers is pushing to make the adoption tax credit refundable, which could allow more families to get the credit even if it is more than their "tax burden."The "Adoption Tax Credit Refundability Act" was introduced by Republicans and Democrats on the House and Senate sides, and similar legislation has been introduced in prior years.Current tax law allows "qualified expenses" for adoption to be claimed on a […]

Married student loan borrowers on income-driven repayment (IDRs) appeared to no longer have to worry about the possibility of an increase in the size of their monthly payments, according to Forbes.The outlet on Wednesday reported the Department of Education Acting Under Secretary James Bergeron said in an revised court filing on Tuesday the agency "expects that by May 10, 2025, servicers will implement the treatment of spousal information for ICR, IBR, […]

Investors stepped up their selling of U.S. stocks after Federal Reserve Chairman Jerome Powell said policymakers will stand down on any rate moves, mainly because President Donald Trump's tariffs are, in his view, larger than expected.He messaged that while channeling the fictional character Ferris Bueller from the 1986 film "Ferris Bueller’s Day Off.""As that great Chicagoan Ferris Bueller once noted, ‘Life moves pretty fast.’ For the time being, we are […]

Federal Reserve Chairman Jerome Powell on Wednesday said that the central bank could face a "challenging scenario" as it contends with President Donald Trump’s tariffs.Powell said the duties on U.S. trading partners imposed by the White House are "significantly larger than anticipated," and that they are "highly likely" to lead to a temporary rise in inflation."We may find ourselves in the challenging scenario in which our dual-mandate goals are in […]

A major shareholder in Harley-Davidson is calling for significant changes to the company's board, arguing CEO Jochen Zeitz and two other long-time members should be removed.H Partners Management said Wednesday it was asking other Harley-Davidson shareholders to cast "withhold" votes at the upcoming shareholder meeting in May when the re-election of Zeitz and two other board members, Thomas Linebarger and Sara Levinson, goes up for a vote. The firm's stake in […]

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 […]