Red Sea, Panama Canal issues are worse than people realize, expert says
Check out what’s being clicked on FoxBusiness.com Logistics experts say the problems affecting global trade, particularly the Houthi attacks in the Red Sea and the Panama Canal drought, are far more serious than many realize. The disruption could be widespread and could lead to further product delays in the U.S. over the coming months as […]
US economy set to ‘slow noticeably’ as consumer spending loses steam: ‘Last hurrah’
Zuma Global President Heather Zumarraga talks to Varney & Co. about consumer spending habits for the 2023 holiday season. The U.S. economy is expected to cool significantly in the coming months as the once rampant spending by U.S. consumers finally comes to an end, according to Wells Fargo. Scott Wren, senior global market strategist at […]
Court orders China’s bankrupt Evergrande to liquidate
Jeff Sica, founder of Circle Squared Alternative Investments, explains how AI hype could impact Apple, Alphabet, Microsoft’s Varney & Co.’s bottom line . Bankrupt Chinese real estate giant Evergrande was ordered into liquidation by a Hong Kong judge on Monday after the debt-laden company failed to present a stable restructuring plan more than two years […]
Los Angeles Times, Sports Illustrated among media outlets announcing layoffs to start 2024
James Iorio, director of TJM Institutional Services, expects the economy to lag for a long time this year. Several mass media The company announced layoffs in January 2024 as economic challenges hit the industry. Business Insider, Los Angeles Times, TIME, and Sports Illustrated are among the publications that have scaled back editorial operations to rebuild […]
Outdoor retailer REI slashes workforce by more than 350 workers, prepares for ‘challenging’ year ahead
Check out what’s being clicked on FoxBusiness.com Outdoor retailer Recreational Equipment, Inc. (REI) has laid off 357 employees, according to a message CEO Eric Artz shared with employees. REI announced the layoffs Thursday, detailing that 200 jobs will be affected at its headquarters near Seattle, six in sales and customer service, 30 in the experience […]
Housing costs now unaffordable for record number of renters in US
Global real estate advisor Jenna Stauffer insisted on “Morning with Maria” that the American dream of homeownership still exists. If you're struggling to pay your monthly rent, you're not alone. New data from Harvard University shows that more Americans than ever before are suffering from the problem. A record 22.4 million renters in the U.S. […]
Americans’ monthly debt payments surge since the pandemic
Bank of America CEO and Chairman Brian Moynihan talks about Fed interest rate hikes, consumer resilience in 2024, and regulation of major banks. The average amount Americans pay just to cover their debt payments has soared by $350 a month in recent years, due to a combination of rising prices, ballooning balances, and prohibitively high […]
Fed’s favorite inflation gauge rose 0.2% in December
Phil Orlando, chief stock market strategist at Federated Hermes, shares his expectations for the path of inflation this year. What is attracting attention as a countermeasure against inflation is federal reserve It rose in December after falling the previous month as high prices continued to weigh on millions of Americans. According to the Department of […]
Consumers are propping up the US economy, but they’re going into debt to do so
“Barron's Roundtable” host Jack Otter discusses the Biden economy as Treasury Secretary Janet Yellen is expected to take aim at President Trump's impact on the economy and big tech stocks. Americans' commitment to spending in the face of high inflation and interest rates, which has kept the engine of the U.S. economy running for the […]
China pressures Iran to rein in Houthi attacks in Red Sea or risk harming business relations: report
Breitbart Economics and Finance Editor John Carney and FOX Business host Taylor Riggs predict the Federal Reserve's highly anticipated interest rate decisions and discuss the U.S. economy. Chinese officials are reportedly pressuring Iran to curb attacks on commercial ships in the Red Sea by Iranian-backed Houthi rebels, or threaten business ties with the Chinese government. […]