Business

California entrepreneur Eric Schiffer warned that the state's proposed billionaire wealth tax could drive some of its most successful business leaders out of California, predicting a "giant sucking sound" of entrepreneurs heading for the exits if voters approve the measure.Schiffer, chairman of family office Patriarch and CEO of Reputation Management Consultants, told FOX Business that he works with several billionaire clients, including some in California, and said many are unhappy […]

Uber has been ordered to pay $40 million in the 2023 death of a Southern California woman who was struck and killed by a vehicle after her rideshare driver kicked her out on the side of a freeway.Retired Judge Richard Stone, an arbitrator, rejected Uber's argument that it "merely operates a technology platform" and that it was shielded from "vicarious liability for the negligence of its drivers," according to Panish […]

In-N-Out Burger store managers make more than $200,000 annually on average, which the fast-food chain says reflects the company's philosophy of investing in its workforce."I can confirm that our In-N-Out Burger store managers earn more than $200,000 a year on average," Chief Operating Officer Denny Warnick said in a statement to FOX Business.Warnick noted that In-N-Out's founders, Harry and Esther Snyder, believed in "taking really great care of our associates.""Their […]

Apple fans eager to get their hands on the latest iPhone crowded stores worldwide on Friday.The 18 Pro and Pro Max lineup, unveiled last week at Apple's annual event alongside its foldable phone Duo, features a reimagined camera with a DSLR-like aperture, improving performance in low-light environments and offering enhanced depth of field.Apple also announced that the new line of iPhone 18s will be able to detect AI-generated photos by […]

California Gov. Gavin Newsom, a likely 2028 presidential contender, signed an executive order Friday calling on the federal government to take a more active role in regulating artificial intelligence.He said in a statement that the Trump administration has abdicated "its responsibility to protect Americans," as AI becomes more advanced and capable by the month.Newsom's order recommends more stringent oversight on companies developing AI, while requiring those same firms to develop […]

Legendary investor Warren Buffett is stepping down as chairman of Berkshire Hathaway, the company said on Friday."Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted," Buffett, who was named chairman emeritus, said in a letter to shareholders. "Father Time always wins. He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a […]

Toys R Us is launching its biggest U.S. expansion in years, with 120 new standalone stores set to open in time for the holiday shopping season.The retailer announced Thursday that it will open the new standalone stores across the U.S. this holiday season through a partnership with Go! Retail Group, bringing its total number of standalone U.S. stores to 160.The rollout marks a major step in the brand’s yearslong effort […]

Americans celebrating National Cheeseburger Day Friday can score free and discounted burgers at major restaurant chains, including McDonald's, Burger King, Wendy's, Five Guys and others.Most of the deals are available through restaurant loyalty programs or mobile apps, and several require a minimum purchase.Members of the MyMcDonald's Rewards program can get a free Double Cheeseburger on Friday with a minimum $1 purchase through the McDonald's app.55-YEAR-OLD RESTAURANT CHAIN ABRUPTLY SHUTTERS LOCATIONS […]

Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules.The global average jet fuel price rose 6.1% week over week to $181.46 per barrel last week, according to the International Air Transport Association (IATA).Speaking at Morgan Stanley's 14th Annual Laguna Conference, American Airlines Chief Financial Officer Devon May said fourth-quarter jet fuel prices […]