RBA Chief Lowe Signals More Rate Hikes

Reserve Bank of Australia Governor Philip Lowe said more interest rate increases are likely in the coming months as the central bank will do what is necessary to ensure that inflation returns to the target range over time. Although the interest rate is still very low, the governor played down the market expectations for an increase in the rate to […]

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Former Tesla employees file lawsuit against company over 'mass layoff'

video Fox Business Flash top headlines for June 20 Check out what’s clicking on FoxBusiness.com. Former Tesla employees have filed a lawsuit against the company, arguing that its "mass layoff" violated federal law since workers were not provided advance notice of their firings. The lawsuit, filed late Sunday in Texas by two workers saying they were fired in June from […]

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U.S. Retail Sales Unexpectedly Dip Amid Sharp Pullback In Auto Sales

Reflecting a sharp pullback in auto sales, the Commerce Department released a report on Wednesday showing an unexpected decrease in U.S. retail sales in the month of May. The report showed retail sales fell by 0.3 percent in May after climbing by a downwardly revised 0.7 percent in April. Economists had expected retail sales to edge up by 0.2 percent […]

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U.S. Import Prices Climb 0.6% In May, Less Than Expected

A report released by the Labor Department on Wednesday showed U.S. import prices increased by less than expected in the month of May. The Labor Department said import prices climbed by 0.6 percent in May after rising by a revised 0.4 percent in April. Economists had expected import prices to jump by 1.1 percent compared to the unchanged reading originally […]

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Baby formula shortage: White House to ship more than 44,000 pounds

video FOX Business Flash top headlines for June 15 Check out what’s clicking on FoxBusiness.com. The Biden administration announced a seventh mission for "Operation Fly Formula," amid the nationwide shortage of infant formula.  In a release, the administration said it would facilitate the shipment of approximately 548,000 eight-ounce bottle equivalents of Nestlé Alfamino® and Alfamino®Junior specialty infant formula this week, or […]

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Manufacturers' outlook dims as recession fears grow

video The Fed wants to see ‘economy slow down’: WSJ reporter Nick Timiraos, the chief economics correspondent for The Wall Street Journal, provides insight into how the Fed is handling soaring inflation.  U.S. manufacturers' sentiment declined in the second quarter of 2022 as companies grappled with soaring inflation, worker shortages and supply chain struggles.  While optimism for their own businesses […]

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