Business

American Airlines issued a warning that airfares are likely to remain elevated even if there's a decline in oil prices after losses the carrier suffered earlier in the year amid surging fuel costs.The carrier's CFO, Devon May, told the Financial Times that "if fuel comes down, I think airfares probably stay largely where they're at right now.""If fuel prices go up, we need to generate higher yield, we need to […]

FIRST ON FOX: Canadian jetmaker Bombardier announced Friday it is "expanding in America" and "creating thousands of jobs" as part of a $270 million investment deal touted by President Donald Trump. The development comes after Trump said in September that Bombardier should no longer be allowed to sell its planes in the United States unless it manufactures them domestically. "Bombardier is expanding its presence across the country, hiring 800 people for jobs located in its […]

Social Security is expected to reach insolvency within a decade, and with the key safety net program facing the prospect of automatic benefit cuts when that occurs, a critical debate over the cost of replacing that revenue could be obscured by a budget rule.Kent Smetters, faculty director of the Penn Wharton Budget Model, spoke exclusively with FOX Business about a new report that details how federal budget rules assume Social […]

EXCLUSIVE: If you build it, they will come.That very sentiment is taking root across Florida’s sun-drenched landscape, as a calculated collaboration between private enterprise and state leadership pushes the Sunshine State towards a modern manufacturing boom."We now know Florida is the 14th largest economy in the world. And everyone thinks that Florida is agriculture, tourism and construction. And we're fortunate to have those industries, but Florida started diversifying its economy […]

PepsiCo and Taco Bell are extending their decades-long partnership for another 11 years, keeping Pepsi beverages — including the fan-favorite Mountain Dew Baja Blast — at participating U.S. restaurants through 2036.The partnership covers Taco Bell, Taco Bell Cantina and Live Más Café locations nationwide, PepsiCo announced Thursday.By renewing their longstanding partnership, PepsiCo and Taco Bell have ensured that one of their most recognizable products will remain on the menu.KFC REPLACING […]

Billionaire hedge fund founder Ken Griffin, Vornado Realty Trust and Rudin have finalized a joint venture to develop a 66-story Manhattan office skyscraper, securing a $3.3 billion construction loan for the project.Vornado announced Wednesday that it had finalized the joint venture with Griffin and New York real estate firm Rudin to develop the 1.9 million-square-foot tower at 350 Park Avenue. Under the joint venture, an affiliate of Griffin, the founder […]

New York City has taken another step away from its longstanding financial relationship with Israel, as Comptroller Mark Levine declined to restore a nearly 50-year investment tradition involving Israel Bonds.City Comptroller Mark Levine is facing questions over his decision not to restore purchases of Israel Bonds, reportedly reversing a campaign pledge as the organization's CEO questioned his financial justification, saying his office only learned of the decision through news reports.The […]

eBay is cutting approximately 1,000 jobs, or about 9% of its workforce, marking the online marketplace's second round of layoffs this year as it looks to streamline operations and focus on key areas of growth.The job cuts were outlined in an internal memo from CEO Jamie Iannone obtained by Reuters, which first reported the move Wednesday. An eBay spokesperson also confirmed the layoffs to the news agency."Our strategy is working," […]

Mark Zuckerberg has reached an agreement with Meta to remain in California after raising the possibility of leaving the state amid concerns over a proposed billionaire wealth tax.Zuckerberg, Meta's CEO, previously told the company he was considering moving his primary residence outside California because of Proposition 40, a ballot initiative that would impose a one-time tax equal to 5% of net worth on billionaires who were California residents on Jan. […]