Business

Kevin Warsh was sworn in as the new chair of the Federal Reserve by Supreme Court Justice Clarence Thomas in a ceremony at the White House on Friday.The 56-year-old Warsh previously served at the Fed as a member of its Board of Governors from 2006 to 2011, and became the youngest-ever Fed governor having been nominated at the age of 35. Trump nominated Warsh to the role in January, and […]

JPMorgan Chase Chairman and CEO Jamie Dimon put New York City’s new progressive mayor, Zohran Mamdani, on notice, telling the self-described ideologue that city governance is about lower crime and economic survival, not empty "morality" slogans.Following a high-stakes face-to-face meeting, the Wall Street titan openly criticized far-left tax talking points like "fair share" and warned that treating wealth creators as political punching bags is actively destroying the city’s talent pool."Every […]

As the AI revolution continues to rapidly expand throughout the corporate world, many employees are facing "automation anxiety" that their job may be replaced by technology. Speaking on Centre Stage at Web Summit Vancouver, Kyle Hanslovan said, "I think many will be pressured in the next five years, where their job can be automated."Just this week, Meta began laying off another 8,000 employees, roughly 10% of its workforce, while TurboTax maker […]

A Costco-exclusive patio swing is being recalled after multiple reports that the seat detached while consumers were using it, causing injuries and posing what federal safety officials called a risk of "serious injury or death."World Bright International Limited is recalling about 18,500 Agio Menlo Woven Patio Swings, according to a recall notice posted by the U.S. Consumer Product Safety Commission on May 14.The recall involves Agio Menlo Woven Patio Swings […]

Waymo is temporarily halting freeway operations for its robotaxi service in several U.S. markets as the company works to address performance issues in construction zones, FOX Business has learned.The Alphabet-owned company confirmed Thursday that it was pausing freeway operations while updating its software."Safety is Waymo’s top priority, both for our riders and everyone we share the road with," a Waymo spokesperson said in a statement to FOX Business. "We have […]

Google co-founder Sergey Brin is continuing his foray into California politics with a newly reported donation to a group fighting against a proposed tax in San Francisco that would hit companies with high-paid executives in the tech hub.A political contribution filing submitted on Wednesday revealed that Brin donated $500,000 to a group that's opposing San Francisco Measure D, which will appear on voters' ballots on June 2.Advocates for the measure […]

The Supreme Court dealt a major blow Thursday to four major cruise lines accused of profiting from Cuban property seized during Fidel Castro’s communist revolution, reviving lawsuits that could cost the companies hundreds of millions of dollars.In an 8-1 ruling, the justices sided with Havana Docks Corporation, a U.S. company that operated docks in Havana before the Cuban government took the property in 1959.The decision revives more than $440 million […]

A top U.S. defense contractor pulled back the curtain on next-generation AI-powered systems designed to hunt down and destroy swarms of enemy drones as the U.S. rapidly expands its next-generation warfighting capabilities."We are inserting technology of all types into our systems," Lockheed Martin CEO Jim Taiclet told FOX Business on Thursday, detailing the company's AI-powered counter-drone system, Sanctum.Taiclet said the system uses artificial intelligence to detect incoming drones, determine whether […]

Hard-working Americans could soon face another blow at the checkout counter.Retail giant Walmart issued a warning Thursday after its Q1 earnings report, signaling that rising fuel costs could soon hit consumers at the checkout counter as seasonal tax-refund boosts dry up and inflation outpaces wages for the first time in years."I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a […]