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President’s Trump looming TikTok ban may only be the beginning of the popular video app’s headaches, as a growing number of nations are becoming suspicious of its ties to China. US ally Australia is reportedly looking at TikTok’s Beijing-based parent company ByteDance to see whether it poses a security threat to the country’s 25 million citizens, with Prime Minister Scott Morrison […]
Read moreThe Bank of England policymakers left the interest rate at a record low and quantitative easing unchanged after easing policy considerably since the onset of the coronavirus pandemic. In the accompanying Monetary Policy Report, the bank cautioned that unemployment will rise drastically and the economic and inflation outlook depends critically on the evolution of the pandemic. The nine-member Monetary Policy […]
Read moreNew York hesitant to raise taxes fearing continued exodus of residents to low tax states: Gasparino Sources tell FOX Business’ Charlie Gasparino that state and local governments are facing budget deficits amid the coronavirus pandemic and hoping for federal money to fill holes. New York Gov. Andrew Cuomo does not want to raise taxes on the rich to plug coronavirus-related […]
Read moreUS states see spikes in unemployment fraud States like Massachusetts and Washington have reported a rise in cases of unemployment fraud, amounting to millions in fraudulent claims paid. FOX Business’ Edward Lawrence with more. Losses from coronavirus-related fraud, identity theft and price gouging have almost hit $100 million since the pandemic began in March, according to a new report from a […]
Read moreNike: Michael Jordan, Jordan brand donating $100M to racial equality groups Nike says Michael Jordan and the Jordan brand will donate $100 million to organizations fighting for racial equality over the next decade. A group of Black Nike employees repeatedly objected to a new diversity-themed ad campaign, urging the $15 billion sportswear company to acknowledge its own equality issues before promoting […]
Read moreThe Securities and Exchange Commission is probing Kodak’s handling of material information about the startup pharmaceutical business it’s launching with the help of Uncle Sam. According to the Wall Street Journal, the regulator is examining whether Kodak jumped the gun on a July 28 announcement that it had received a $765 million federal loan to start making drug ingredients. Word […]
Read moreTrump: 401ks are flourishing under my economy President Trump discusses stock market historic highs and says 401ks have increased substantially since he first took office. A 401(k) plan is not your only choice when it comes to saving for retirement but, if your employer offers one, it pays to take advantage of it. Here are a few ways to make the most of […]
Read moreKansas City Southern (KSU) stock surged nearly 10% Friday after The Wall Street Journal reported that a consortium of private equity investors was considering a possible bid for the Class 1 railroad operator. According to the Journal, the Blackstone Group Inc. (BX) and Global Infrastructure Partners are exploring a potential buyout that could be worth more than $21 billion. The […]
Read moreThe French economy logged a double-digit contraction in the second quarter due to the shut-down of “non-essential” activities as part of the lockdown implemented to battle the coronavirus pandemic until the start of May, first estimate from the statistical office Insee showed Friday. Gross domestic product fell by a record 13.8 percent sequentially, following the first quarter’s 5.9 percent decrease. […]
Read moreRenewed coronavirus concerns hit airlines FOX Business’ Jeff Flock reports on how airlines are faring during the coronavirus outbreak and how the industry responded to Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci saying he wouldn’t fly or eat at restaurants right now. Delta CEO Ed Bastian sent a memo to employees Thursday to thank […]
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