Macy’s to close 150 stores by 2026, open new Bloomingdale’s, Bluemercury locations
Ted Oakley, managing partner at Oxbow Advisors, weighs projected earnings, Fed interest rates and a possible Congressional ban on shopping app Temu. Macy’s plans to close about 150 stores over the next three years as part of a strategic shift to focus on upscale chains Bloomingdale’s and Blue Mercury. The company publicly announced the change […]
Airline may raise fares 10%, cut summer flights due to Boeing delays
Barron’s Senior Writer Al Root joins Barron’s Roundtable to discuss the latest Boeing stock price and what to expect from the company in 2024. Ryanair has warned it may have to increase ticket prices and cut some routes from its summer service due to flight delays. Boeing 737 Max production This could result in fewer […]
Biden Admin Sues To Block Massive Grocer Merger In Latest Antitrust Crackdown
The Biden administration announced Monday it was filing a lawsuit to block the proposed merger of grocers Kroger Company and Albertsons Companies, Inc., claiming the deal is anticompetitive. The Federal Trade Commission (FTC) sued to stop the $24.6 billion acquisition, alleging that there is fierce competition between Kroger and Albertsons that would disappear in a […]
Oil prices up $1 over shipping disruption fears
Check out what’s being clicked on FoxBusiness.com Crude oil prices rose more than $1 by midday Monday as European diesel demand was affected. russia sanctions Analysts said transportation disruptions pushed prices higher as a planned overhaul of U.S. refinery output capped the market and created volatility. Brent crude oil futures rose $1.41 (1.73%) to $83.03 […]
Microsoft President Visited White House Dozens Of Times Amid Effort To Influence Biden On AI Policy
Microsoft President Brad Smith frequented President Joe Biden’s White House on numerous occasions while the company aimed to shape the administration’s policies on artificial intelligence, according to visitor logs. Leaders of Microsoft and its partner OpenAI have contributed significantly to boost Biden’s campaign, according to Federal Election Commission data. “Make no mistake, Microsoft is exploiting […]
Irate customer throws hot coffee in Dunkin’ Donut employee’s face: police
Check out what’s being clicked on FoxBusiness.com A Florida Dunkin Donuts employee suffered burns after an angry customer threw hot coffee in his face, police said. The incident occurred around 8:45 a.m. Sunday morning at the Dunkin Donuts on Route 19 and was reported to the New Port Richey Police Department. When officers arrived, they […]
‘Potential Is Unknown’: What Nvidia’s Meteoric Stock Rise Says About The Future Of The Economy
Nvidia posted huge fourth quarter results on Tuesday, up 265% from one year prior, launching the largest one-day single-stock rally the market has ever seen. Investors are flocking to Nvidia, believing that the company has the potential to ride a new wave of technological innovation that could increase productivity across the economy through faster computers […]
AT&T CEO shares letter to employees after cell network outage
Technology journalist Kurt Knutson reacts to multiple government agencies investigating AT&T’s phone outages on Craman Countdown. AT&T CEO John Stankey The company shared a letter it sent to employees on Sunday after its cell phone network suffered an outage on Thursday, affecting tens of thousands of Americans. AT&T’s network went out for several hours on […]
Ford pauses shipments of new F-150 Lightning EVs
FOX Business’ Jeff Flock reports from the Celebrity Ford dealership in Toms River, where electric F-150s aren’t zipping away fast enough. Ford Motor Co. said Friday it has halted shipments of all 2024 model year F-150 Lightning electric pickup trucks as it conducts quality inspections for unspecified issues. The Detroit automaker said the suspension of […]
Biden bull market story of soaring stocks isn’t all it’s cracked up to be
In “The Bottom Line,” FreedomWorks Chief Economist Steve Moore discusses how the top 1% pay nearly half of all federal income taxes. President Joe Biden boasts about the recent rise in the stock market. He’s right that stock prices have continued to decline over the past 14 months. The S&P 500 index exceeded 5,000 for […]