Business

Detroit’s historic bankruptcy case — the largest municipal bankruptcy in U.S. history — has officially closed more than 13 years after the city first sought Chapter 9 protection amid a financial collapse that reshaped the city’s finances, pensions and long-term fiscal strategy.U.S. Bankruptcy Judge Thomas Tucker granted the city’s motion for a final decree this week, formally ending the case after determining administration of the bankruptcy had been completed.The closure […]

The federal government is projected to run a budget deficit of at least $2 trillion this fiscal year, according to an estimate by the Treasury Department and bond market participants.Earlier this month, the Treasury released its quarterly refunding documents for the second quarter of the calendar year, which included estimates of needed borrowing over the next two quarters of fiscal year 2026 as of April.It showed that the White House […]

Standard Chartered CEO Bill Winters on Wednesday walked back comments he made at an investor event Tuesday when he said the bank plans to cut thousands of jobs as it replaces what he called "lower-value human capital" with tech powered by artificial intelligence (AI).Winters wrote a memo to the bank's employees on Wednesday in which he sought to address concerns that arose following his comments on Tuesday, according to a […]

One of the top-tier golf simulator companies in the country has stepped it up a notch.Five Iron Golf, which has spread from its roots in New York City to over 50 locations worldwide, has launched Five Iron Tournaments, a real-money indoor golf tournament platform that turns Five Iron’s national venue network into an always-on competitive golf ecosystem.The platform, expected to be fully rolled out by the end of this summer, […]

Sporting brand powerhouse Fanatics and American Express announced Wednesday a partnership that will allow Amex users to tap into their sports fandom.The bank holding company is now the Official Payments Partner across select Fanatics online and retail locations worldwide and a presenting sponsor at Fanatics Fest, one of the world’s premier sports fan festivals held annually in New York City. "Nearly 80% of U.S. American Express Consumer Card Members identify as sports fans and this partnership […]

U.S. efforts to crack down on Iran’s growing use of cryptocurrency are intensifying as officials work to cut off financial channels tied to the regime as tensions rise in the Middle East.BESSENT SAYS US SEIZED NEARLY $500M IN IRANIAN CRYPTO AS OPERATION ECONOMIC FURY SENDS REGIME INTO ‘CRISIS’FOX Business’ Darren Botelho joined FOX Business’ Stuart Varney on "Varney & Co." to report on the Trump administration’s efforts to track and […]

New York City's LaGuardia Airport is bringing science fiction to the terminal with the debut of an AI-powered hologram concierge designed to help travelers find gates, lounges and baggage claim through face-to-face conversations.The digital assistant, nicknamed "Bridget," was unveiled this week inside Terminal B, where the hologram chats with passengers in real time and helps them navigate the busy area.Unlike prerecorded holograms used elsewhere for greetings or ads, Bridget responds […]

Spirit Airlines’ sudden overnight collapse has left budget-conscious families stranded just weeks before the traditional launch of the summer travel season on Memorial Day.Shortly after Spirit’s operational shutdown, a company lawyer apologized in bankruptcy court to Americans who are now priced out of air travel."We apologize most specifically to those Americans who may now be priced entirely out," Spirit lawyer Marshall Huebner said in bankruptcy court, The Associated Press and […]

Massive investment in artificial intelligence infrastructure is helping shape the next phase of the digital economy, according to one investment expert watching Wall Street’s AI race.ProCap Financial Chairman and CEO Anthony Pompliano joined FOX Business’ Maria Bartiromo on "Mornings with Maria" to discuss the surge in AI investment, growing interest in digital assets and how his firm’s AI-powered financial platform is helping users navigate increasingly complex markets."The market is showing […]