Commerce Department confirms recession — Team Biden can run but they can't hide

video US enters technical recession as economy shrank 0.9% in Q2 The U.S. enters a recession following two quarters of negative GDP growth. FOX Business’ Edward Lawrence with more. The Commerce Department confirmed Thursday what ordinary Americans and small business owners already know by indicating the economy is in a recession.  On Thursday, the Commerce Department estimated GDP fell by 0.9% in […]

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U.S. Durable Goods Orders Unexpectedly Show Sharp Increase In June

Reflecting a sharp increase in orders for transportation equipment, the Commerce Department released a report on Wednesday showing an unexpected surge in new orders for U.S. manufactured durable goods in the month of June. The Commerce Department said durable goods orders shot up by 1.9 percent in June after climbing by 0.8 percent in May. The continued increase surprised economists, […]

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Asia’s richest woman loses half her fortune in property crisis

To understand the magnitude of China’s escalating mortgage crisis, look no further than Yang Huiyan. Heading into this year, the Country Garden Holdings Co. co-chairman was far and away Asia’s richest woman. Her $US23.7 billion ($33.9 billion) fortune easily eclipsed that of fellow Chinese billionaires Fan Hongwei and Wu Yajun, both worth around $US13 billion at the time, according to […]

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US opens criminal probe into pharma company over potential Alzheimer's drug fraud: report

video FOX Business Flash top headlines for July 27 Check out what’s clicking on FoxBusiness.com. The Department of Justice has opened a criminal probe into Cassava Sciences Inc to determine whether the company falsified its Alzheimer's drug tests. Cassava, based in Texas, is the pharmaceutical company behind the Alzheimer's drug simuflam. The company is already under investigation by the SEC […]

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US home price growth cooled in May for second straight month

video Real estate investor ‘very nervous, concerned’ about housing shortage ‘storm’ Cain International CEO Jonathan Goldstein puts the onus on government and central banks to provide regulatory help in bringing more housing supply to the market. Home price increases slowed in May for the second consecutive month, the latest sign that rising mortgage rates are starting to slow activity in […]

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Stimulus check update: These states are sending 'inflation relief' payments

video US will see inflation easing over the next six months: Economist FreedomWorks chief economist Steve Moore provides insight on inflation declining, boosting the value of King Dollar and future economic concerns on ‘Kudlow.’ As high inflation saddles Americans with an extra financial burden, some states are helping out with one-time stimulus rebates to offset the pain of higher prices. […]

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Russia Slashes Key Interest Rate By 150 Bps

Russia’s central bank slashed its key interest rate by 150 basis points and signaled further reductions this year as companies need cheaper funding in the face of challenging external environment. The Board of Directors of Bank of Russia decided to cut the benchmark rate by a sharper-than-expected 150 basis points to 8.00 percent from 9.50 percent. Markets had expected a […]

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Twitter Slips To Loss In Q2; Results Miss Estimates

Social media giant Twitter, Inc. (TWTR) reported Friday a net loss for the second quarter compared to a profit last year, hurt by a decline in revenues and a surge in costs and expenses. The results also missed analysts’ expectations. For the second quarter, San Francisco, California-based Twitter reported a net loss of $270.01 million or $0.35 per share, compared […]

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UK Budget Logs Second Biggest June Deficit On Record

The UK budget logged its second biggest deficit for the month of June on record, as high inflation pushed up the debt servicing cost of government, the Office for National Statistics said Thursday. Public sector net borrowing excluding public sector banks increased by GBP 4.1 billion to GBP 22.9 billion in June, which was the second-highest June borrowing since monthly […]

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