Business

Elon Musk’s spat with President Donald Trump over the 'big, beautiful bill, continues to rage, with the Tesla CEO on Thursday using a decade-old social media post to drill home his opposition to the legislation. Musk is staunchly opposed to the bill as it will add $2.4 trillion to the national debt, which has already ballooned to $36.2 trillion as of today, according to FOX Business' National Debt Tracker.On Thursday, Musk shared […]

Layoffs of U.S. workers were nearly 50% higher in May than they were a year ago, with reductions attributed to the Department of Government Efficiency (DOGE) remaining the leading reason for job cuts this year, according to a new report.Global outplacement Challenger, Gray & Christmas released a report Thursday that said there were 93,816 job cuts announced by U.S. employers in May. That amounts to an increase of 47% from 63,816 […]

Retail stores and grocers are cutting prices and offering a bigger assortment of low-cost products to attract shoppers who are pulling back on spending in the face of an uncertain economy.Aldi, widely known as a budget-friendly grocery chain, said on Thursday that it's cutting prices on more than 400 products, equating to nearly 25% of its store selection. By dropping prices on products across its over 2,400 stores, Aldi said customers […]

President Donald Trump on Thursday said he was disappointed in Elon Musk's criticism of Republicans' tax cut package, which the billionaire called a "disgusting abomination" and has urged Congress to block the measure."Well, look, you know, I've always liked Elon, and so I was very surprised, and you saw the words he had. He hasn't said anything about me that's bad. I'd rather have him criticize me than the bill, because the […]

Mortgage rates declined for the first time in weeks, though they are still hovering near 7%, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.85% from last week's reading of 6.89%.The average rate on a 30-year loan was 6.99% a year ago.WHEN LEAVING THE HOUSE TO YOUR HEIRS BACKFIRES"The average mortgage […]

Procter & Gamble on Thursday said that it will cut up to 7,000 jobs, or 15% of its non-manufacturing workforce, over the next two years as part of a broader restructuring effort."As always, employee separations will be managed with support and respect, and in line with our principles and values and local laws," P&G said. "Specific impacts by region or site are not available at this time." The two-year restructuring plan […]

The U.S. will face a recession if the Senate fails to pass President Donald Trump's One Big Beautiful Bill Act, Office of Budget and Management (OMB) Director Russell Vought warned Wednesday. "We'll have a recession," Vought said. "The economic storm clouds will be very dark. I think we'll have a 60% tax increase on the American people."Vought testified before the House Appropriations subcommittee on Wednesday. And while the White House's 2026 […]

Amazon is investing $10 billion to create data centers in North Carolina aimed at expanding its artificial intelligence and cloud computing technology capabilities. The move, announced Wednesday, is its latest attempt to compete with rivals Google and Microsoft in the artificial intelligence space. It will also significantly boost its presence in the state, creating at least 500 new high-skilled jobs that range from data center engineers and network specialists, to engineering […]

Dollar General is luring in more higher-income households as shoppers tighten their spending amid growing concerns around the economy. CEO Todd Vasos told analysts during the company's first-quarter earnings call on Tuesday that new customers this year are shopping more often and spending more per visit compared with new customers last year. They are also allocating more of their spending to discretionary categories.   "We believe these behaviors suggest that we are […]