California fast food wage hike has had detrimental impact, puts businesses in ‘jeopardy,’ critic says
California franchisee Alex Johnson estimates that his 10 restaurants will lose a combined $470,000 because of his state’s new minimum wage law. California Governor Gavin Newsom’s successful move to raise the minimum wage for many of the state’s fast-food workers is having a devastating effect on businesses that are being forced to cut labor costs […]
Chaos in California Chipotle as customers start food fight with staff
On May 31, a chaotic situation occurred at a Chipotle in California when three customers threw food at employees. (Storyful) On May 31, chaos erupted at a Chipotle in California after three customers started throwing food at employees. A bystander video of the incident shows three women attacking the store clerk, with one climbing onto […]
Private sector job growth cools in May to 152,000, worse than expected: ADP
Gary Kaltbaum, president of Kaltbaum Capital Management, explains in “Making Money” why a “narrow” stock market is a concern. U.S. companies started hiring more slowly than expected in May, according to the ADP national employment report released Wednesday morning, signaling that the labor market continues to cool on the back of rising interest rates. Businesses […]
Homeowners with adjustable mortgages could get slammed
Heritage Foundation economist Peter St. Onge provides analysis of the housing affordability crisis on “The Bottom Line.” It was cheap, but High risk mortgages People who are behind on payments on loans taken out several years ago could see their monthly payments soar. More than 1.7 million homes have been purchased with an adjustable rate […]
$560 million Mega Millions jackpot won by player in Illinois
See what’s clicking on FoxBusiness.com of Mega Millions The lottery industry announced the winner of an estimated $560 million jackpot from Tuesday night’s drawing. The winning ticket was purchased in Illinois. Tuesday night’s winning numbers were 19, 37, 40, 63, 69 and a gold Mega Ball of 17. The Megaplier was 3x. This was the […]
Job openings unexpectedly fall in April to lowest level in 3 years
Writing in Making Money, Michael Gapen, head of U.S. economics at Bank of America Securities, discusses whether April’s jobs report will influence the Fed’s interest rate decision. U.S. job openings fell to the lowest level in more than three years in April, the latest sign that the labor market is cooling as the economy slows. […]
Auto prices are falling, but owning a car is more expensive than ever
According to Insurify, Nevada has the second-highest auto insurance costs in the nation. Cost New and Used Cars Prices may be down from 2021 highs, but rising insurance costs and financing rates still make it much more expensive to own a car. New internal data on auto loan originations from Bank of America suggests overall […]
Police recruits in high demand, job data shows
Lincoln Tech CEO Scott Shaw explains why young workers are seeking trade jobs with Varney & Co. Data shows that qualified candidates looking to start a career as a police officer in the United States are in a good position to land a job. Recent ZipRecruiter Analytics The survey found that law enforcement training is […]
Fed president: People would rather have recession than high inflation
Host Jack Otter and Barron’s Roundtable senior writer Nicholas Jasinski discuss why interest rate cuts are unlikely in 2024. Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, has said one thing we’ve learned over the past few years is that consumers would rather the economy fall into recession than continue to suffer the […]
US house sellers are cutting prices for the first time in over a year
Heritage Foundation economist Peter St. Onge provides analysis of the housing affordability crisis on “The Bottom Line.” A growing number of home sellers are slashing prices in an attempt to lure back buyers faced with high costs and interest rates. That’s according to a new report released by Redfin, which found that 6.4% of sellers […]