Category: Fox Business

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…

LARRY KUDLOW: Joe Biden is a hopeless open border man

With all the hoopla reporting of the presidential visits to the Texas border, I haven’t seen any specific references to two very important laws passed by Congress and signed by other presidents that will go a long way toward solving Joe Biden’s catastrophic open border policy, and the roughly 10 million illegals who have entered our country.  First, is section 212(f) of the Immigration and…

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…

Panera announces major menu changes set to debut next month

Panera Bread will introduce nine new entrees and upgrade some of its current offerings. The changes, centered on giving “core” offerings like soups, salads and sandwiches a boost, arise out of a major update coming to its menus around the country starting April 4, the brand said Thursday. Panera said it aimed to offer “better value through enhanced portions and lower price points” with the menu…

Some Americans will receive a second Social Security check this week

Some Americans will receive two Social Security payments this week, a rare occasion that is the result of a quirk in the system.  Typically, the Social Security Administration sends out just one payment each week, delivering Social Security checks on the second, third and fourth Wednesdays of each month. Then it pays Supplemental Social Security Income — which provides support for disabled people and older…

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…

Mortgage rates continue their upward climb, prospective buying activity down

Mortgage rates continued to climb this week, with the 30-year fixed-rate mortgage hitting 6.94%, according to Freddie Mac. That’s up from last week when it averaged 6.90%. The average rate for a 15-year mortgage was 6.26%, down from 6.29% last week. Last year at this time, both 30-year and 15-year mortgages were down from where they are now. A year ago, the 30-year fixed-rate mortgage…

Elon Musk suing OpenAI, Sam Altman for breaching not for profit mission

Elon Musk is suing ChatGPT-maker OpenAI and its chief executive Sam Altman, among others, saying they had abandoned the company’s original founding mission to develop open-source artificial general intelligence technology for the benefit of humanity over profits. The lawsuit, which was filed Thursday in San Francisco, says that Altman and OpenAI’s co-founder Greg Brockman originally approached Musk to make an open-source, non-profit company and that the…

Iowa basketball ticket prices surge after Caitlin Clark decides to enter 2024 WNBA Draft

The Iowa Hawkeyes’ Caitlin Clark recently surpassed Kelsey Plum to become the top scorer in NCAA women’s basketball history On Thursday, Clark announced she will enter this year’s WNBA Draft.  Clark has led the Hawkeyes to a 24-4 record this season, and Sunday marks Iowa’s season finale. Her announcement appears to have sent supporters into a frenzy, with thousands of fans seeking tickets to watch…

Google Gemini: AI fiasco reignites concerns of political bias at tech company dating back to Trump’s victory

The controversy surrounding the artificial intelligence (AI) chatbot Gemini is reigniting concerns about political bias at Google, a company that has repeatedly been accused of favoring Democrats and fostering a culture of progressive workers. Bias in the tech world has been an issue for years, and it came to a head in 2017 when a male Google software engineer released a 10-page document titled “Google’s…

Major California mall places restrictions on times minors can shop unsupervised after teenage brawl

New age restrictions are now in place for minors wanting to visit a Los Angeles area mall following a massive brawl in December 2023. The Del Amo Fashion Center in Torrance, which is described on its website as the largest shopping center in the western U.S., will no longer allow unsupervised shoppers under the age of 18 after 3 p.m. on Fridays and Saturdays. The…

Person injured after cellphone explodes at DC high school

A person was injured at a D.C. high school on Thursday morning after a cellphone exploded, according to the city’s fire department. The incident happened around 8:30 a.m., at Roosevelt High School in D.C.’s Petworth neighborhood. Fire investigators believe the explosion was related to a failure in the phone’s lithium-ion battery, and stated that they’re still looking into what exactly caused the explosion. “Once again,…

Oregon man discovers $8.4 million lottery jackpot win a month late

An Oregon man became a millionaire on Jan. 24 — yet didn’t realize it for nearly a full month.  David Schultze, 68, of Milwaukie, Oregon, bought a ticket for the Oregon’s Game Megabucks drawing that was held on Jan. 24, 2024, said the Oregon Lottery in a Feb. 27 press release. After the numbers were drawn, Schultze’s ticket won him the jackpot of $8.4 million…

Hackers behind UnitedHealth Group cyberattack reportedly identified

Hackers that allegedly caused the UnitedHealth Group cyberattack reportedly posted on the dark web that they stole personal data and the records of “millions” of patients. In a now-deleted post, the Blackcat ransomware group – also known as ALPHV or Noberus – said it stole several terabytes of data from UnitedHealth, which includes medical insurance and health data, Reuters reported, citing screenshots of the post….

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….

Burger King trolls Wendy’s with ‘no urge to surge’ promo for free Whopper

Burger King took a shot at fast-food rival Wendy’s after the restaurant chain made news with rumors of controversial “price surging.”  “The only thing surging at BK is the [flame emoji]. We don’t believe in charging people more when they’re hungry,” Burger King posted on X Wednesday to promote a free Whopper or Impossible Whopper with $3 purchase. The promo is dubbed “no urge to…

Credit card interest rates predicted to fall, but debt remains high

Predictions abound for credit card interest rates in the coming months. Like many interest rates, it’s likely credit card interest rates will drop if the Fed starts cutting rates. Credit card APRs have risen steadily for the last 22 months, landing at 22.75% in November 2023, Federal Reserve data showed. Rising rates were largely attributed to the Fed’s frequent rate hikes throughout the year. Rates…

Biden administration to review national security, privacy and remote sabotage risks from Chinese ‘smart cars’

The Biden administration has announced that it will launch a government probe into “smart cars” made in China that can gather data about Americans and even be disabled remotely.  “The probe could lead to new regulations aimed at preventing China from using sophisticated technology in electric cars and other so-called connected vehicles to track drivers and their personal information,” AP News reported Thursday. “Officials are…

Fed’s favorite inflation gauge rose 0.3% in January

An inflation measure closely watched by the Federal Reserve rose again in January as high prices continued to weigh on millions of Americans. The personal consumption expenditures (PCE) index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.4% – down slightly from the 2.6% reading recorded the previous month. The figures were…

Q4 GDP revised down slightly – here’s what that means for interest rates

The second estimate for real gross domestic product (GDP) in the fourth quarter of 2023 was revised slightly downward, partly driven by less private inventory investment than was initially estimated, according to the Bureau of Economic Analysis (BEA).  Real GDP increased at an annual rate of 3.2% for the October-through-December period after rising 4.9% in the third quarter of 2023, according to the BEA’s advance estimate released Wednesday.   The…

Wendy Williams’ financial guardianship raises ‘red flags’ after adviser attempted to block documentary: expert

Wendy Williams’ return to television last weekend raised concerns among fans about their favorite television talk show host. Last week, a representative with Williams’ care team issued a statement on Wendy’s behalf to “correct inaccurate and hurtful rumors about her health,” saying the former talk show host was diagnosed with “primary progressive aphasia and frontotemporal dementia (FTD)” in 2023. While Williams has largely remained out…

Hot sauce boom driven by healthy eating

 Fortune Business Insights says the hot sauce market is projected to grow over $2 billion by 2030, and it’s because more people are stepping outside the box when it comes to healthy eating. Darren Tompkins owns Headlock Hotsauce in Houston. He says he started the business as a pandemic hobby, and it’s grown tremendously, alongside the hot sauce market boom. THESE ARE THE HOT SAUCE BRANDS AMERICANS…

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…

Jim ‘Mattress Mack’ McIngvale places $1M wager on Houston to win March Madness

Texas-based businessman and self-proclaimed Houston superfan Jim “Mattress Mack” McIngvale is putting his money on the line once again. The furniture store owner has made headlines in recent years for wagering large sums of money on his favorite teams.  At times, he has reaped big rewards, like his historic $75 million payout when the Astros won the 2022 World Series. McIngvale’s latest bet comes shortly…

John Lennon’s murder: Auction house withdraws sale of bullet from killer’s gun

A British auction house that planned to sell a bullet from the gun that was used to kill John Lennon in 1980 has now withdrawn the lot. The auction was scheduled for Wednesday and generated international headlines after it was covered by the BBC last week. The bullet was recovered from the gun long after the British songwriter, singer, musician and former leader of the…

Google CEO’s 2016 pledge to combat misinformation with AI under scrutiny following Gemini controversy

After the 2016 election, Google CEO Sundar Pichai pledged that investing in artificial intelligence would be a great opportunity for the tech giant to combat “misinformation.”  These comments, made during an “all hands” employee meeting in the wake of Donald Trump’s victory, have received renewed scrutiny after the blunder of Google’s AI tool, which users flagged for its bias against White people.  As highlighted by…

Regal parent says this heightened movie theater experience will bring people back

Movie theater chains are revitalizing how consumers watch movies on the big screen to recapture lost revenue after the pandemic. Cineworld Group, which emerged from bankruptcy last year, is making the movie experience even more immersive by expanding its use of 4DX, which incorporates on-screen visuals with synchronized motion seats and environmental effects like vibration, water, wind, lightning and scents.  The technology was developed in…

US national debt tracker for Feb. 28, 2024: See what American taxpayers (you) owe in real time

The U.S. national debt is climbing at an astronomical pace and has shown no signs of slowing down despite the heightened scrutiny on government spending. The national debt — which measures what the U.S. owes its creditors — increased to $34,405,200,371,310.35 as of Tuesday afternoon, according to the latest numbers published by the Treasury Department. That is up about $28.9 billion from the $34,376,317,052,037.23 figure…

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…

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