Category: fox-business/markets

Elon Musk’s X, Samsung partner to send users photos taken from space

Samsung decided to test out the camera on its new Galaxy S24 smartphone by sending it into space to take pictures of the Earth — and X users have exclusive access to the snaps for a limited time. The electronics giant and social media platform partnered up for the promotion that allows X users access through the end of March to request one of the…

Google’s ‘echo chamber’ workplace clouding its impartiality: former employee

A former Google software engineer sounded off against the tech giant and its company culture following the launch of its new Gemini AI that has garnered harsh criticism over its large language model. Speaking exclusively to FOX Business, Mike Wacker, who worked at Google from 2014 to 2019, says the flaws at Google run much deeper than the algorithm, which led its Gemini AI chatbot…

NYCB stock plummets as bank replaces CEO, cites ‘material weakness’

New York Community Bancorp shares tumbled after replacing its CEO and disclosing lapsed internal controls. Shares of the regional bank fell over 20%.  “As part of management’s assessment of the Company’s internal controls, management identified material weaknesses in the Company’s internal controls related to internal loan review, resulting from ineffective oversight, risk assessment and monitoring activities,” the bank detailed in a filing with the Securities…

Bud Light remains drag on parent company as Dylan Mulvaney hit lingers

Anheuser-Busch InBev beat sales estimates in its fourth quarter and full year 2023 results released Thursday. But the global beer giant continues to suffer in the U.S. from the boycott against its Bud Light brand nearly a year after entering its controversial partnership with transgender influencer Dylan Mulvaney. A-B reported revenue increased 7.8% last fiscal year, hitting an all-time high, but acknowledged its “full growth…

AMC gives Taylor Swift, Beyonce credit for ‘literally all’ of its quarterly growth

AMC Entertainment’s chief executive gave pop stars Taylor Swift and Beyoncé credit for the movie theater operator reporting fourth-quarter gains in its top and bottom lines. CEO Adam Aron said, “Literally all of that increase in AMC’s revenue and all of that increase in AMC’s adjusted EBITDA is attributable to our having shown [Swift and Beyoncé’s] two concert movies in our theaters in the U.S….

Bud Light parent company Anheuser-Busch, Teamsters reach agreement day before contract expiration

Anheuser-Busch (A-B) announced it reached a tentative agreement with the International Brotherhood of Teamsters union on Wednesday, one day before its single master contract for the 12 breweries across the country was set to expire. Teamsters, which represents all 5,000 A-B employees at all 12 U.S. locations, confirmed a five-year tentative agreement was reached on Wednesday. “Teamsters make the beer, Teamsters make Anheuser-Busch successful, and…

Coinbase users experiencing buying and selling errors, zero account balances

Coinbase said Wednesday it is investigating after users reported experiencing errors in buying and selling on the exchange, as well as seeing empty account balances. CEO Brian Armstrong said the platform was “dealing with a large surge in traffic” that crashed the exchange.  The issues occurred on the same day bitcoin crossed $60,000 for the first time. This is a developing story that will be…

Patrick Willis explains how CoachTube helps empower athletes looking to take their game to the next level

San Francisco 49ers legendary linebacker Patrick Willis, who will be inducted in the Pro Football Hall of Fame as a part of the Class of 2024, is the perfect player to learn from if you’re looking to take your defensive game to the next level on the football field.  But, instead of simply watching highlight tapes of Willis during his seasons with the 49ers, CoachTube,…

Oil prices up $1 over shipping disruption fears

Oil prices gained more than $1 by midday on Monday as European diesel demand, constrained by Russian sanctions and shipping disruptions, pulled prices higher in a market jittery with U.S. refinery output limited by planned overhauls, analysts said. Brent crude futures were up $1.41, or 1.73%, to $83.03 a barrel at 12:11 p.m. CST (1811 GMT). U.S. West Texas Intermediate crude futures (WTI) climbed $1.48,…

Stuart Varney: BP exec’s husband guilty of insider trading after eavesdropping on wife’s merger deal

During his “My Take,” Monday, “Varney & Co.” host Stuart Varney discussed the story of Tyler Loudon, a Houston man who made $1.7 million from insider trading after listening in on his wife’s work-from-home calls while she was handling a potential acquisition. STUART VARNEY: This is a story of bad judgment, insider trading, and eventually divorce. Tyler Loudon worked from home in Houston. BP MANAGER’S…

Cruz, GOP senators double down on anti-central bank digital currency legislation

EXCLUSIVE: Senate Republicans are determined to restrict the Federal Reserve’s ability to create a so-called central bank digital currency, setting the stage for making the debut of a digital dollar an issue for the 2024 presidential campaign, FOX Business has learned. Conservative lawmakers have been doubling down on their opposition to a central bank digital currency (CBDC), arguing the federal government could weaponize the technology…

Walmart’s 3-for-1 stock split: What to know

Walmart’s three-for-one stock split is effective Monday, easing the barrier for employees and investors to buy shares.  The world’s biggest retailer and the largest U.S. employer said the stock split is part of its “ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach.”  Walmart CEO Doug McMillon said in a statement…

Florida Dunkin’ Donuts employee burned after customer throws hot coffee in her face

A Florida Dunkin’ Donuts employee was burned after an angry customer threw hot coffee in her face, according to police. The New Port Richey Police Department was called to the incident, which happened at about 8:45 a.m. on Sunday morning at a Dunkin’ Donuts on US Highway 19. When officers arrived, they learned a man had been given an extra cup of coffee for free…

AT&T CEO shares letter to employees after cell network outage: ‘we fell short’

AT&T CEO John Stankey shared a letter sent to employees on Sunday after the company’s cellular network experienced an outage on Thursday that impacted tens of thousands of Americans. AT&T’s network’s hourslong outage on Thursday resulted in about 73,000 outage reports on Downdetector, a website that tracks internet and cellular network outages. “Thursday was a challenging day for our company,” Stankey wrote. “Our purpose is…

Ford pauses shipments of new F-150 Lightning EVs

Ford Motor Company said Friday that it has halted shipments of all 2024 model year F-150 Lightning electric pickup trucks so that the company could perform quality checks for an unspecified issue. The Detroit automaker said the pause on shipments began on Feb. 9 and didn’t say when it expected to resume shipments of the EV truck that had begun in January.  A Ford spokesperson…

AT&T to give billing credits to customers impacted by cell network outage

AT&T is planning to provide billing credits to customers who were impacted or potentially impacted by a wireless outage last week, the company said on Saturday. The outage occurred for about 10 hours on Thursday and AT&T said it believes the incident was caused by the “application and execution of an incorrect process used as we were expanding our network, not a cyberattack.” Over 73,000…

AT&T’s outage nightmare, Nvidia smashes records, Capital One-Discover merger

— A nationwide cell phone outage stemmed from AT&T and left customers holding the phone  — Nvidia smashes records taking the Dow, S&P 500 and Nasdaq along for the ride — Capital One and Discover plan to merge, creating credit card monster  — Walmart wins delivering dividend boost ahead of stock split  — Trio of U.S. airlines hike fees  — Moon Landing draws cheers  TOP STORY…

United Airlines hikes checked bag fees, following lead of American Airlines, Jet Blue

United Airlines announced Friday it is raising baggage fees, following a similar move earlier this week by American Airlines and Jet Blue. In a statement to Fox News Digital, United Airlines said that they are raising checked bag fees for customers traveling in North America. Economy class passengers on domestic United Airlines flights will now pay an additional $5, raising the cost for their first…

Reddit’s public debut could mean big bucks for OpenAI CEO Sam Altman

Reddit will make its much-anticipated debut on the New York Stock Exchange in March, and its initial public offering filed this week shows OpenAI CEO Sam Altman stands to make a fortune from the social media platform going public. Reddit’s prospectus shows Altman is the third-largest shareholder in the company, owning 4.5% of its Class A shares and 9.3% of Class B shares, amounting to…

Nvidia nabs $2T valuation, S&P and Dow hit records with Nasdaq close behind

Nvidia has investors cheering the AI boom, which in turn is helping U.S. stocks rise to fresh record highs.  The S&P 500 and Dow Jones Industrial Average hit new records on Friday while the Nasdaq Composite is just shy of its all-time high.  The tech-heavy Nasdaq is looking at its first record close since November 2021 and needs to finish at 16,057.44 to hit that level. …

WATCH: Amazon driver escapes death after barreling Amtrak train slices truck in half

An Amazon driver escaped with his life-barely-after an Amtrak train sliced his truck in half in a jaw-dropping video. Dash camera footage of the horrific collision in Nov. 2021 showed Alexander Evans’ perspective of the crash in Ixonia, Wisconsin, which is about 40 minutes outside of Milwaukee. In the footage, Evans is seen glancing both ways before an Amtrak train barrels towards him. In an…

Nvidia’s revenue soars 265% year over year due to generative AI boom

Artificial intelligence powerhouse Nvidia announced its highly-anticipated fourth-quarter earnings report on Wednesday which showed a massive jump in quarterly revenue from a year ago, reassuring investors that its AI edge is alive and well. Nvidia’s revenue in the fourth quarter, which ended on Jan. 28, was up 265% from a year ago and 22% from the prior quarter and totaled $22.1 billion – beating analysts’…

DC federal jury convicts 2 Chinese nationals of duping Apple out of over $3 million with fake iPhones

A Washington, D.C., federal jury convicted two Chinese nationals on Tuesday, for being part of a scheme in which they submitted over 5,000 fake iPhones to Apple for repair, intending to dupe the tech giant out of over $3 million. The U.S. Department of Justice announced the conviction Tuesday afternoon, saying 33-year-old Hoatian Sun, also known as Hao Sun, Jack Sun, and Frank Sun, of…

Walmart to acquire Vizio for $2.3B, sales outlook, dividend lift shares

Walmart forecast fiscal 2025 sales above Wall Street expectations on Tuesday and said it would buy smart-TV maker Vizio for $2.3 billion. Shares in the U.S. retail giant rose 3% in premarket trading after it also announced its biggest dividend increase in more than a decade. Walmart proposed to buy Vizio for $11.50 per share, a premium of 47% to the company’s closing price of…

Capital One to acquire Discover Financial

Capital One, a Warren Buffett-backed consumer bank and credit card issuer, announced Monday that it will acquire the credit card lender Discover Financial Services. Capital One announced that the deal will create a “global payments platform at scale, with 70 million merchant acceptance points in more than 200 countries and territories.” The all-stock transaction will be at a premium of 26.6% based on Discover’s closing…

Super Bowl Sunday beer sales jumped in 2024, with Corona taking top spot

The stats are in on beer sales at bars and restaurants during Super Bowl Sunday 2024, and while sales were up overall, there were clear winners and losers among brands compared to last year. The latest report from restaurant engagement platform Union found on premise sales jumped 16% on game day compared to a typical day, an increase from 2023 when they only rose 10%….

Teamsters target Bud Light parent Anheuser-Busch, Molson Coors

The Teamsters union appears ready to shut down work at two major beer companies at once, after striking at Molson Coors’ Texas brewery over the weekend and warning it will do the same at all of Anheuser-Busch InBev’s U.S. breweries if a new deal for workers is not reached by the end of the month. The 420 members of Teamsters Local 997 walked off the…

Crypto no longer outsider at famed Miami Beach ETF conference

Crypto gets a lot of shade in traditional finance circles. Less so these days, and as a reporter on the crypto beat, one of the best examples of the mainstreaming of the digital asset business came last week at the annual Exchange ETF Conference sponsored by the biggest money management firms in the world. From what I saw, crypto didn’t just have a seat at…

OpenAI valued at $80B after deal: report

OpenAI, the Microsoft-backed artificial intelligence (AI) company, completed a deal that values the firm at $80 billion or more, according to a new report. The New York Times reported on Friday, citing people with knowledge of the deal, that OpenAI would sell shares in a tender offer led by venture capital firm Thrive Capital. Under the deal, employees will be able to cash out their…

Grow your T-shirt making business with these 7 steps

Starting a T-shirt-making business can be an exciting venture, but it requires careful planning and execution to ensure success in a competitive market. Whether you’re a creative entrepreneur or someone passionate about graphic design, these tips will guide you through the crucial steps of establishing and growing your own T-shirt business. 8 WAYS TO THINK LIKE AN ENTREPRENEUR Before diving into the T-shirt-making business, conduct…

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