Business

The Treasury Department and IRS are moving to automatically establish Trump Accounts for millions of eligible children, a major expansion of the investment program created under President Donald Trump's tax and spending law.Temporary regulations issued by Treasury and the IRS establish a system that allows the Treasury secretary to create an account for an eligible child without requiring a parent or other authorized person to first make an election. The […]

Elevated gas prices ahead of November’s midterm elections could make Republicans feel the "same fate" the Democrats did in 2022, when prices that summer hit an average of $5 a gallon, an expert told FOX Business. Patrick De Haan, the head of petroleum analysis at GasBuddy, made the remark this week as the national average for a gallon of gas currently sits at $4.42 Wednesday, according to GasBuddy data. Four years […]

FIRST ON FOX: The Treasury Department is dropping the hammer on a Tren de Aragua (TdA) $40-plus million fraud scheme accused of using U.S. automated teller machines as a narco-terror piggybank, stealing Americans' cash to fund its transnational terror network.Treasury, in a First on Fox story Wednesday, unleashed a whole-of-government crackdown, targeting the financial network of the violent foreign terrorist organization (FTO) TdA over a massive, high-tech ATM "jackpotting" scheme […]

Six Flags Magic Mountain said Tuesday it is permanently closing the famed X2 roller coaster after multiple lawsuits alleged some riders were left with serious brain injuries.The Southern California theme park said it was retiring the ride for good after nearly 20 years. The announcement comes about a month after Six Flags settled a lawsuit brought by the family of Christopher Hawley, a 22-year-old San Diego State University graduate. Hawley […]

The U.S. economy grew at a stronger pace than expected in the second quarter, according to the Commerce Department's estimate.The Bureau of Economic Analysis (BEA) on Wednesday released its final reading of second-quarter GDP, which showed the economy grew at an annualized rate of 2.2% in the three-month period including April, May and June.That figure topped the expectations of economists polled by LSEG, who had estimated 1.5% GDP growth in the second […]

Exclusive: President Donald Trump will make a surprise stop in Denton, Texas, on Thursday to highlight manufacturing and the administration's economic agenda, FOX Business has learned.The president will visit a Peterbilt Motors factory in the city north of Dallas. Trump will deliver remarks about the manufacturing boom he believes is a result of his pro-growth policies, tariffs and deregulation."The president’s America First trade agenda is driving a manufacturing renaissance that […]

Family-owned businesses play a major role in the economy and founders face difficult decisions when it comes time to consider passing it down to the next generation, experts said in a new podcast.The latest episode of Goldman Sachs Exchanges discussed how family-owned businesses should approach planning for generational transitions given their importance to the economy, according to a transcript reviewed exclusively by FOX Business.FX de Mallmann, chairman of investment banking […]

Tropical Smoothie Café is rolling out a major brand refresh as the fast-casual chain builds on rapid growth and prepares for its next phase of expansion.The Atlanta-based company — best known for its made-to-order smoothies, wraps and bowls — has surpassed $1.6 billion in system sales, grown its loyalty program to 13 million members and is on track to top 1,800 locations by the end of the year.It is also […]

Ford is recalling more than 11,000 pickup trucks over a rearview camera defect that could hinder a driver's visibility while in reverse.About 11,405 2026 Ford Rangers equipped with a 10.1-inch center stack screen are affected by the recall, according to the National Highway Traffic Safety Administration (NHTSA).The issue could increase the risk of a crash, the NHTSA said in its announcement.FORD RECALLS MORE THAN 223,000 VEHICLES OVER FUEL TANK ISSUE"The […]