Business

‘The Big Money Show’ discusses Jerome Powell’s uncertain future, the Fed’s rate decision, and Kevin Warsh’s nomination as a potential leadership shift looms. The Federal Reserve on Wednesday announced it will leave interest rates unchanged amid concerns about inflation rising further amid the war in Iran. Fed policymakers voted to leave the benchmark federal funds rate…

Check out what’s clicking on FoxBusiness.com. Costco is reportedly tweaking one of the most iconic deals in retail. The warehouse giant – long known for its $1.50 quarter-pound all-beef hot dog and 20-ounce soda combo – is now giving customers the option to swap the fountain drink for a 16.9-ounce bottle of Kirkland Signature water….

Meta Platforms (META) stock fell about 7% after the company’s latest quarterly report showed higher AI spending and slower user growth than in the prior quarter. The company also called out two other challenges facing its business in its earnings report, which together pressured the stock in extended trading. The first is costs — namely,…

Meta, Amazon, Alphabet, and Microsoft all reported their financial performance at the same time on Wednesday

In an aerial view, a sign is posted on the exterior of a Carvana car vending machine on July 19, 2023 in Daly City, California. Justin Sullivan | Getty Images Shares of Carvana jumped by as much as 10% in extended trading after the company reported record results during the first quarter that topped Wall…

Powell says he will respect the role of the new Fed chairpublished at 20:04 BST 20:04 BST Asked about his pledge to keep a “low-profile” as ex-chairman, while still remaining a governor on the panel, Powell begins with a physical joke, ducking down briefly behind the podium as if he’s going into hiding. The joke…

The Big Money Show panel discusses the alarming new analysis showing Social Security and Medicare racing toward insolvency and warns that retirees face steep benefit cuts unless Washington acts fast. A new proposal would allow Social Security beneficiaries to continue working without having their benefits diminished, which could make it easier for retirees to pay…

Financial challenges at OpenAI (OPAI.PVT) should remain dark clouds for investors in key players in the AI ecosystem, such as Oracle (ORCL) and CoreWeave (CRWV), even amid sharp sell-offs in their stock prices. The challenges simply underscore the core problems with the business models of OpenAI and others like it. The OpenAI report: A story…