Business

The U.S. attorney’s office for the District of Columbia has opened a criminal investigation into Federal Reserve Chair Jerome Powell, focusing on the renovation of the central bank’s Washington headquarters and whether he was truthful in his congressional testimony about the project.Officials told The New York Times, which was first to report the probe, that it centers on whether Powell accurately characterized the scope and cost of the renovation during […]

K-Cup billionaire Robert Stiller sold his waterfront mansion in Palm Beach, Florida, for roughly $66.14 million, just a few years after snapping up the luxury estate.Stiller — the founder of Green Mountain Coffee Roasters, which later acquired Keurig — bought the North Lake Way property in April 2023 for $66 million. The sprawling 13,300-square-foot estate hit the market in May with a lofty $90 million asking price, according to Mansion […]

Consumer sentiment ticked higher in early January despite lingering concerns about inflation and a weak labor market, according to the latest release from the University of Michigan's Surveys of Consumers.Michigan's Consumer Sentiment Index rose to 54 in January's preliminary reading from a final reading of 52.9 in December. That was a larger increase than what was expected by economists polled by LSEG, who anticipated the January figure would come in at […]

Treasury Secretary Scott Bessent said President Donald Trump has one more interview to do before naming America's next leader at the Federal Reserve.Speaking at the Minnesota Economic Club, where he also addressed a sweeping fraud scandal that has drawn national attention, Bessent said BlackRock Global Fixed Income Chief Investment Officer Rick Rieder is expected to interview with Trump soon.POWELL DECLINES TO WEIGH IN ON POTENTIAL SUCCESSORS AS TRUMP EYES NEXT […]

Intel unveiled new chip manufacturing milestones this week, but former Intel CEO Pat Gelsinger said the United States still has a long way to go to reclaim chip production from Asia."The metric [is] though, how many wafers are being built in America," Gelsinger said Friday on "The Claman Countdown.""That is the only thing that matters," he added.Gelsinger’s warning comes as the Trump administration has moved to strengthen U.S. chip manufacturing, […]

Venture capitalist Chamath Palihapitiya says California’s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state’s budget deficit.Palihapitiya, who has been tracking capital flight from the Golden State, said California has so far lost an estimated $1 trillion.MAMDANI’S RISE IN NYC MIRRORS ECONOMIC FLIGHT TO THE SOUTH, STUDY SHOWS"We had $2T of billionaire wealth just a few weeks ago. […]

A federal judge blocked New York City Mayor Zohran Mamdani's effort to intervene in the sale of thousands of rent-stabilized rental properties on Thursday.Mamdani's administration had sought to slow the sale of the properties after tenants complained that the seller, Pinnacle Group, had poorly maintained the properties and were concerned that the prospective buyer, Summit Properties USA, would have similar issues.Mamdani's administration attempted to intervene on the basis of being […]

Wegovy’s oral version of its injectable weight-loss drug is seeing tremendous interest, Novo Nordisk executive Dave Moore told FOX Business on Friday.Wegovy’s once-daily pill, an oral spinoff of its injectable weight-loss medication, was approved in December 2025 by the Food and Drug Administration as the first oral GLP-1 drug and launched on U.S. markets Monday. "There are so many patients that have been on the sidelines just waiting because they didn't […]

Costco is planning to open a new Los Angeles warehouse beneath an affordable-housing complex, marking a creative expansion strategy for the retail giant.The project, located in the Baldwin Village area of South Los Angeles, is expected to open in 2027, Costco CEO Ron Vachris said during the company's first-quarter fiscal year 2026 earnings call last month."We've got a project in Los Angeles where we're working with some developers [where] there's […]