Business

Nike plans to cut jobs as part of a sweeping overhaul designed to make the athletic apparel giant "more agile, efficient and athlete-focused," CEO Elliott Hill said Thursday.In a memo to employees, Hill said the restructuring "will result in fewer roles across Nike" as the company reorganizes its business, though he did not say how many positions would be eliminated."I want to acknowledge that news like this creates uncertainty. I […]

The NASA SpaceX Crew-13 mission launched to the International Space Station on Thursday from Cape Canaveral Space Force Station in Florida. The crew onboard the mission utilizing SpaceX’s Falcon 9 rocket and Dragon spacecraft are NASA astronauts Jessica Watkins, Luke Delaney, CSA (Canadian Space Agency) astronaut Joshua Kutryk and Roscosmos cosmonaut Sergey Teteryantnikov. "During their time on the orbiting laboratory, the crew will conduct new research to prepare for human exploration beyond low-Earth orbit and […]

Mortgage rates rose to the highest level since November 2023, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 7.28% from last week's reading of 7.03%.The average rate on a 30-year loan was 6.34% a year ago."With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic […]

The Federal Reserve's costly renovation project will have a new manager as Fed Chair Kevin Warsh has tasked the General Services Administration (GSA) with managing the completion of the project.On Wednesday, the Fed's Office of Inspector General released a report which found that while there was no administrative misconduct in the management of the more than $2 billion project, mistakes were made that have contributed to significant cost overruns and […]

President Donald Trump praised Boeing and its 737 MAX after a FlyDubai jet survived a dramatic plunge during an apparent attempt to crash the Israel-bound aircraft with more than 170 people aboard.Trump congratulated the U.S. aerospace giant Thursday, singling out the aircraft's ability to withstand the extreme forces it encountered during the midair emergency."Congratulations to the GREAT Boeing Company for producing a plane, the 737 Max, that was able to […]

America's skilled trades shortage has major employers sounding the alarm as companies face mounting demand for workers needed to build, maintain and power the country's infrastructure.mikeroweWORKS Foundation CEO Mike Rowe joined FOX Business’ Stuart Varney on "Varney & Co." to discuss the widening skilled labor gap, the impact of artificial intelligence and the growing push to steer more Americans toward trade careers.A new national report from the Alliance for America’s Skilled […]

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 […]