Business

Treasury Secretary Scott Bessent said Thursday that financial markets are pricing in a high likelihood of the Federal Reserve cutting interest rates before the end of the year amid concerns about tariffs pushing inflation higher.Bessent, during an appearance on Fox News' "Special Report with Bret Baier," said after the Fed held interest rates steady for its fifth straight meeting in late July citing concerns about tariff-induced inflation squeezing consumers was "somewhat a […]

Elizabeth Holmes, the Theranos founder who's serving an 11-year sentence for defrauding investors over blood-testing technology that did not work, has been passing time in Texas federal prison by exercising. She was spotted jogging multiple times this week.Holmes, 41, was photographed on Tuesday carrying weights around the recreation yard at Federal Prison Camp in Bryan, Texas. The disgraced former CEO wore a gray shirt and shorts, as well as compression gloves, […]

The Biden administration vastly overestimated job growth during its final two years, pro-Trump economist Steve Moore said in a brief presentation from the Oval Office Thursday afternoon as he unveiled new unpublished Census Bureau data.Moore's findings come amid the backlash President Donald Trump is facing for firing the head of the U.S. Bureau of Labor Statistics (BLS), a Biden-era appointee who he has claimed issued "rigged" jobs numbers during the […]

Disney settled a wrongful termination lawsuit on Thursday that was filed by former "Star Wars" actress Gina Carano, bringing to an end a years-long dispute."I have come to an agreement with Disney/Lucasfilm @disney @Lucasfilm which I believe is the best outcome for all parties involved. I hope this brings some healing to the force… I hope to make you proud. I am excited to flip the page and move onto […]

Elon Musk escalated tensions in the critical artificial intelligence race Thursday, asserting his most advanced AI model, Grok 4 Heavy, was already outperforming OpenAI’s newly launched GPT-5 two weeks ago."Bottom line though: Grok 4 Heavy was smarter 2 weeks ago than GPT5 is now and G4H is already a lot better," the Tesla and SpaceX CEO posted to X Thursday. "Let that sink in." Musk posted hours after OpenAI unveiled GPT-5, […]

President Trump’s message to global chipmakers is: Manufacture in the United States, and you won’t be slapped with a hefty tariff. "We'll be putting a tariff on approximately 100% on chips and semiconductors. But if you're building in the United States of America, there's no charge, even though you're building, and you're not producing yet in terms of the big numbers of jobs and all of the things that you're building. […]

EXCLUSIVE: A coalition of state financial officers is backing President Donald Trump's new executive order aimed at halting "discriminatory debanking," calling it a critical step toward restoring fairness and neutrality in the financial system."For too long, federal regulators have weaponized the concept of ‘reputational risk’ to pressure financial institutions into cutting ties with individuals and organizations they find politically or ideologically objectionable," the 31 financial officers wrote in a joint […]

Skydance Media and Paramount Global announced the completion of their long-planned, $8 billion merger on Thursday as the Federal Communication Commission (FCC) continues to probe CBS News. The new company is dubbed "Paramount, a Skydance Corporation," which is the parent company to a variety of media and entertainment assets, including CBS, Comedy Central, MTV, Paramount Plus and an iconic movie studio. The FCC last month approved the high-stakes merger that puts the new […]

OpenAI unveiled GPT-5 on Thursday, calling it a significant upgrade from its predecessors and a major step forward in building the capabilities of large language models. OpenAI CEO Sam Altman described the model as "like having a team of PhD-level experts in your pocket." Altman also believes that GPT‑5 marks a major step to achieving artificial general intelligence (AGI). AGI refers to the hypothetical intelligence of a machine that has the ability […]