Business

Elon Musk's SpaceX began trading at $150 a share on Friday, above its listing price of $135 a share, making him the world's first-ever trillionaire following the IPO.The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk's stake in SpaceX to an estimated $690 billion. The company is trading on the Nasdaq under the ticker "SPCX" after pricing […]

Billionaire hedge fund CEO and owner Ken Griffin is making good on his promise to "double down" on Miami after publicly feuding with New York City Mayor Zohran Mamdani over New York's new tax on expensive second homes.Griffin, who runs hedge fund Citadel, plans to add a 300-unit apartment building and a 1,400+ space parking garage to the site of Citadel’s future headquarters in Miami’s financial district Brickell, recent filings […]

More than 17,000 coffee makers were recalled over a burn hazard that can cause serious injury, according to federal regulators.About 17,600 Kidisle-branded hot and iced coffee machines were affected by the recall, according to the U.S. Consumer Product Safety Commission."The recalled coffeemakers(sic) can become clogged, causing hot liquid or steam to build up and be released unexpectedly during use, posing a risk of serious injury from burn hazard," the commission […]

When most people think of major stock market indexes, their minds go to the S&P 500, Nasdaq Composite, or Dow Jones because they're the "Big 3." One index that often flies under the radar is the Russell 2000, which tracks the smallest 2,000 companies in the Russell 3000 index.The Russell 2000 is to small-cap stocks what the S&P 500 is to large-cap stocks, and so far this year, ETFs like […]

America’s historic beef shortage may not ease anytime soon as the U.S. cattle herd remains at its lowest level in more than seven decades, keeping pressure on prices even as consumers continue to buy beef at elevated levels.Omaha Steaks President and CEO Nate Rempe joined FOX Business’ Maria Bartiromo on "Mornings with Maria" to discuss the supply challenges facing the beef industry and why meaningful price relief could still be […]

An American favorite pizza chain is quietly disappearing from communities across the country.Papa Johns is following through on its plan to close about 300 North American stores, with dozens of locations shuttering in the first quarter – primarily in core Sun Belt states.A recent analysis of Papa Johns financial filings by Fast Company found that 44 stores closed across 17 states, with the highest concentration of closures in Texas, California, […]

General Motors on Tuesday announced it's releasing a software update that allows some electric vehicle (EV) owners to send power back to the electric grid.The update allows owners of GM's vehicle-to-home energy system, which allows the EV to power the home during a blackout, the expanded capability of sending electricity to the power grid.Owners of the system would be able to sell power from their vehicle back to utility providers […]

The General Services Administration (GSA) on Wednesday announced the sale of the Old Post Office Building located at 1100 Pennsylvania Avenue in Washington, D.C.The building was previously the Trump International Hotel from 2016 to 2022 until the Trump family firm sold the leasing rights for $375 million. The hotel reopened later in 2022 as the Waldorf Astoria Washington D.C., under the management of Hilton.GSA said that its sale of the […]

The U.S. Strategic Petroleum Reserve (SPR) is dropping toward Biden-era lows toward levels not seen since the Reagan administration.According to the latest data from the U.S. Energy Information Administration’s petroleum status report for the week ending June 5, the SPR fell to 349.2 million barrels, with nearly 9 million barrels per week being tapped.The last time reserves approached this level was under the Biden administration in July 2023, when there […]