Business

Federal Reserve policymakers were deeply divided over the decision to cut interest rates at their meeting in December as the U.S. economy faces a challenging combination of risks, according to the minutes from their latest policy meeting.The Fed cut rates by 25 basis points for the third straight time at their December meeting, lowering the benchmark federal funds rate to a range of 3.5% to 3.75%. The decision occurred against […]

Steak ’n Shake is offering a $2.50 "Patriot Milkshake" throughout January, promoting the discount as an early nod to America’s 250th anniversary, according to a post from the company’s X account."Steak n Shake is getting a head start on America's 250th anniversary of its founding," Steak ‘n Shake wrote on X.The promotion comes as fast food chains take sharply different approaches to pricing and cost pressures, with some leaning into […]

Billionaire business tycoon Elon Musk described himself as a "maker" in a Tuesday post on X, while reasserting his claim that Sen. Bernie Sanders, I-Vt., is a taker."My Tesla and SpaceX shares, which are almost all my ‘wealth’, only go up in value as a function of how much useful product those companies produce and service," Musk wrote."This means my ‘wealth’ can only increase due to producing more products and […]

People who use their cars for work will be able to deduct more money per mile on their taxes in the new year. The Internal Revenue Service (IRS) announced this week that the standard mileage rate for business driving will increase by 2.5 cents per mile. Additionally, vehicles used for medical purposes will decrease by half a cent, which the agency said reflects "updated cost data and annual inflation adjustments." The standard […]

President Donald Trump on Monday launched a renewed attack on Federal Reserve Chair Jerome Powell, accusing Powell of "gross incompetence" and threatening to sue him over the costly renovation of the central bank's headquarters.Trump spoke at a Mar-a-Lago press conference alongside Israeli Prime Minister Benjamin Netanyahu and slammed Fed Chair Powell as a "fool." Powell, who was appointed as Fed chair by Trump in 2017 and was reappointed by then-President Joe Biden […]

During the Cold War, the U.S. and the Soviet Union competed across nearly every arena, including space. The rivalry shifted dramatically on Oct. 4, 1957, when the U.S.S.R. launched Sputnik, the world’s first artificial satellite, officially ushering in the Space Age. Nearly 70 years later, the U.S. is facing a new technological race over fusion energy, and one CEO is warning Washington could be headed for another "Sputnik moment" as China […]

Saks could be the next department store to seek relief in bankruptcy court amid growing liquidity challenges.Saks Global Enterprises, the parent corporation of Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman, is weighing a Chapter 11 bankruptcy filing as they contend with mounting debt, people familiar with the matter told Bloomberg. This decision comes as the retailer is facing a more than $100 million debt payment due […]

Renting still offers significant monthly savings over buying in most of the country, but an economist says the long-standing affordability gap is gradually starting to close.Realtor.com senior economist Joel Berner told FOX Business that renting is still significantly more affordable than buying a starter home in 49 of the 50 largest metros across the U.S., with Pittsburgh being the lone exception. This hasn't changed since Realtor.com issued its June 2025 […]

American workers at the bottom end of the pay scale are set to see the minimum wage rise in 19 states effective on New Year's Day, while three other states are also planning minimum wage increases later in 2026.While 20 states opt to leave their minimum wage at the federal minimum of $7.25 an hour, the majority of states have set higher minimums which may be periodically adjusted to account for inflation […]