Business

The annual inflation adjustment for Social Security benefits was released on Friday, and beneficiaries are set to see larger benefits in 2026.Social Security's annual cost-of-living adjustment (COLA) will be 2.8% next year, following the announcement by the Social Security Administration. On average, Social Security retirement benefits will increase by about $56 per month starting in January.The annual Social Security COLA has averaged about 3.1% over the last decade, and was […]

President Donald Trump announced Thursday that trade negotiations with Canada have been terminated over an advertisement featuring former President Ronald Reagan speaking out against tariffs."The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs," Trump wrote on Truth Social."The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme […]

Meta is cutting around 600 jobs within its artificial intelligence unit, a move it says aims to boost efficiency.The layoffs to Meta's Superintelligence Labs division, which has nearly 3,000 employees, come as the company's efforts to lean into AI had become overly bureaucratic, and the social media giant hopes the cuts will produce a more efficient workflow, an internal memo showed, according to Axios."By reducing the size of our team, […]

Palantir CEO Alex Karp said his company is in an artificial intelligence arms race with its competitors, after reaching a deal with Lumen Technologies in which Palantir will deploy AI throughout Lumen's digital communications network and enhance data use and effectiveness.Karp and Lumen CEO Kate Johnson spoke on Wednesday to Fox Business' Liz Claman about the agreement, as well as AI and privacy warnings."We're in an arms race here," Karp […]

Alaska Airlines has grounded all its flights across U.S. airports on Thursday evening because of an unspecified technology-related issue, the company said.The ground stop also applied to Alaska Airlines' subsidiary Horizon Air, a Federal Aviation Administration advisory showed, Reuters reported.In a post shared on X, the airline confirmed it was experiencing an "IT outage affecting operations.""A temporary ground stop is in place. We apologize for the inconvenience. If you're scheduled […]

EXCLUSIVE: Apple is now building and shipping American-made artificial intelligence servers in the United States — a move that has the technology giant answering President Donald Trump’s call to on shore manufacturing.Apple previously built the servers that power its Apple Intelligence AI system abroad.WHITE HOUSE SAYS APPLE TO ANNOUNCE $100B US INVESTMENT COMMITMENT FOR MANUFACTURINGIn February, Apple announced a new advanced manufacturing facility in Houston as part of its commitment […]

Oil prices jumped on Thursday after the U.S. imposed sanctions on major Russian oil companies over Russia's war in Ukraine.Brent crude futures were up 5%, while West Texas Intermediate crude futures climbed more than 5.2% as of Thursday morning.The Trump administration on Wednesday moved to sanction Russia's largest oil producers, Rosneft and Lukoil, over their role in funding the Russian war in Ukraine, which has become Europe's biggest land war since […]

President Donald Trump pardoned Changpeng "CZ" Zhao, the convicted founder of Binance, the world’s largest crypto exchange.Zhao pleaded guilty in 2023 to a single violation of the Bank Secrecy Act, which included failure to properly implement an effective anti-money laundering program. Binance paid $4.3 billion to resolve the Department of Justice’s investigation led by former Attorney General Merrick Garland and coordinated by then-Treasury Secretary Janet Yellen through its financial crime […]

Roblox CEO and co-founder, Dave Baszucki, says "safety is a top priority," despite a civil lawsuit and a Middle Eastern country's banishment of the online gaming platform.During an interview with FOX Business, Baszucki said he has "four kids who grew up on Roblox off and on," and the business with "thousands of employees" helped children learn science, technology, engineering and math (STEM) skills while helping them stay connected to "friends […]