An American housing market “crisis” has some first-time homebuyers turning to the bank of mom and dad to help them achieve the rite of passage. Enter “nepo-buyers,” who can be described as adult children utilizing either gifted down payments, mortgage co-signs or entire homes and condos from their families. “Rising home prices, higher interest rates, […] ...
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White House pushes back on ‘remarkably low’ GDP forecasts for Trump-GOP tax billWhite House pushes back on ‘remarkably low’ GDP forecasts for Trump-GOP tax bill
The Trump administration is pushing back on projections for the so-called “One Big, Beautiful Bill,” arguing the scoring understates the economic growth the bill would fuel and, as a result, projects higher budget deficits. The nonpartisan Congressional Budget Office (CBO), which is responsible for analyzing the cost of legislation moving through Congress, estimated that the […] ...
Former MLB star Alex Rodriguez, Marc Lore approved as controlling owners of Timberwolves and Lynx, NBA saysFormer MLB star Alex Rodriguez, Marc Lore approved as controlling owners of Timberwolves and Lynx, NBA says
The sale of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx to a group led by former MLB star Alex Rodriguez and e-commerce entrepreneur Marc Lore has gained unanimous approval from the NBA’s board of governors, the league announced on Tuesday. Rodriguez and Lore have familiarity with the Timberwolves, as they previously held minority […] ...
Treasury requires US financial institutions cut ties with Mexico-based banks tied to cartel money launderingTreasury requires US financial institutions cut ties with Mexico-based banks tied to cartel money laundering
The Trump administration on Wednesday, for the first time, used a new authority to require U.S. financial institutions to cut ties with three Mexico-based banks for laundering money on behalf of cartels. The Treasury Department identified cartels that have “exploited Mexico-based financial institutions to move money,” which Treasury Secretary Scott Bessent said enables the “vicious […] ...
AT&T settles data breach lawsuits for $177 million: What customers need to know about settlement paymentsAT&T settles data breach lawsuits for $177 million: What customers need to know about settlement payments
Money could be coming the way of some AT&T users through a significant settlement that stemmed from lawsuits about a pair of data breaches the company experienced. The settlement that AT&T reached, worth $177 million, received preliminary approval from the U.S. District Court for the Northern District of Texas late last week. The preliminary approval […] ...
Wall Street panics over prospect of a socialist running New York CityWall Street panics over prospect of a socialist running New York City
On Wednesday morning, the world’s epicenter of capitalism woke up to find it might soon have a socialist mayor. Democratic socialist Zohran Mamdani’s stunning win over former Gov. Andrew Cuomo in the New York City Democratic primary for mayor shocked Wall Street. Some of the world’s most influential and powerful financiers were left grasping to […] ...
James Comer probes if government played role in ‘debanking’ conservativesJames Comer probes if government played role in ‘debanking’ conservatives
FIRST ON FOX: House Oversight Committee Chair James Comer, R-Ky., is investigating whether federal actors played any role in “debanking” conservatives, widening his probe into alleged political discrimination by financial institutions. “The Committee on Oversight and Government Reform is investigating the improper debanking of individuals and entities based on political viewpoints or involvement in certain […] ...
Charlotte drops Tesla from approved city vehicle list, alleging safety issues and lawsuitsCharlotte drops Tesla from approved city vehicle list, alleging safety issues and lawsuits
Charlotte City Council in North Carolina voted Monday to remove Tesla from its list of approved vehicle manufacturers for municipal use, with one supportive member citing alleged “safety issues.” Councilwoman LaWana Mayfield, who led the effort, has favored such a move for weeks, according to WCNC. The 11-member board with nine Democrats voted 6-3 in […] ...
Jeff Bezos and Lauren Sanchez tell wedding guests ‘no gifts’ for their Venice celebrationJeff Bezos and Lauren Sanchez tell wedding guests ‘no gifts’ for their Venice celebration
Soon-to-be-wed Amazon founder Jeff Bezos and fiancée Lauren Sánchez don’t want gifts from their wedding guests. The couple told guests “please, no gifts” in the wedding invitation that they mailed out ahead of their wedding, Good Morning America reported. Bezos and Sanchez are slated to marry in the Italian city of Venice this week, roughly two […] ...
NYC dem socialist Zohran Mamdani wins primary election: What is his economic agenda?NYC dem socialist Zohran Mamdani wins primary election: What is his economic agenda?
New York Assemblyman Zohran Mamdani’s victory in the Democratic Party’s primary for the New York City mayoral nomination has put his economic policies in the forefront as he aims to run the nation’s most populated city. Mamdani, 33, is a Democratic member of the state assembly representing Queens who is also a member of the […] ...
Lawmakers grapple with questions of safety vs speed in AI race with ChinaLawmakers grapple with questions of safety vs speed in AI race with China
Congressional lawmakers on Wednesday questioned the balance between speed and safety when discussing artificial intelligence (AI) regulations and the need for the U.S. to dominate China in the race to develop the emerging technology. Bipartisan lawmakers of the House Select Committee on the Chinese Communist Party were adamant that the U.S. must lead the AI […] ...
NTSB blames Boeing, FAA in terrifying Alaska Airlines door blowoutNTSB blames Boeing, FAA in terrifying Alaska Airlines door blowout
Boeing and the Federal Aviation Administration (FAA) caused “multiple system failures” that led to an Alaska Airlines door blowing off mid-flight in January 2024, the National Transportation Safety Board (NTSB) said during a meeting on Tuesday. The incident with the Boeing 737 Max 9 occurred on Flight 1282 shortly after takeoff from Portland, Oregon, and […] ...
Microsoft plans ‘substantial’ job cuts across Xbox divisionMicrosoft plans ‘substantial’ job cuts across Xbox division
Microsoft is planning another round of cuts at Xbox as part of the tech giant’s ongoing reorganization. Xbox managers are expecting substantial job cuts across the entire group as soon as next week, people familiar with the matter told Bloomberg. This marks the fourth time Microsoft downsized its gaming division in the past 18 months, […] ...
Trump warns Spain: Pay up for defense or pay ‘twice as much’ in trade negotiationsTrump warns Spain: Pay up for defense or pay ‘twice as much’ in trade negotiations
President Donald Trump tore into Spain over its refusal to adhere to the North Atlantic Treaty Organization’s (NATO) new 5% defense spending target during a press conference Wednesday. “They’re the only country that won’t pay up, they want to stay at 2%,” said Trump. “I think it’s terrible. And you know, they’re doing very well, […] ...
Trump slams Fed Chair Powell for not cutting rates: ‘Average mentally person’Trump slams Fed Chair Powell for not cutting rates: ‘Average mentally person’
President Donald Trump slammed Federal Reserve Chairman Jerome Powell on Wednesday as the head of the central bank testified before a Senate panel. “I think he’s terrible,” Trump said in response to a question from a reporter during a press conference at the NATO summit in The Hague, Netherlands. Trump reiterated his criticism of Powell […] ...
These popular Fourth of July foods will cost more this yearThese popular Fourth of July foods will cost more this year
Fourth of July barbecue costs remain near record highs as inflation and reduced availability of certain food items keep prices “stubbornly high,” according to the American Farm Bureau Federation (AFBF). Families cooking for the holiday for 10 guests this year should expect to pay about $70.92, which is only 30 cents less from last year’s […] ...
Three Mile Island nuclear plant expected to restart ahead of scheduleThree Mile Island nuclear plant expected to restart ahead of schedule
Constellation Energy Corporation’s Three Mile Island nuclear plant is expected to restart a year sooner than originally planned. The Three Mile Island Unit 1 reactor may restart in 2027, a year earlier than the initial 2028 timeline Constellation provided in September when it announced a power purchase agreement with Microsoft that the energy company said […] ...
Bessent urged to stop EU’s ‘punitive’ tax grab targeting U.S. firmsBessent urged to stop EU’s ‘punitive’ tax grab targeting U.S. firms
EXCLUSIVE: A nonprofit organization that advocates for the protection of free markets is urging the Treasury Department to ensure any trade deals negotiated with the European Union (EU) remove “punitive” taxes, fines and regulations imposed on U.S. companies providing digital services, according to a letter obtained by Fox News Digital. Public Policy Solutions sent a […] ...
White House highlights financial impact of ‘No Tax on Tips’ in Trump’s ‘big, beautiful bill’White House highlights financial impact of ‘No Tax on Tips’ in Trump’s ‘big, beautiful bill’
FIRST ON FOX: Rep. Erin Houchin, R-Ind., highlights how President Donald Trump‘s “No Tax on Tips” policy will support working-class Americans in a video released by the White House on Wednesday. Houchin spoke with small business owners, Ron and Mary Kay Mattingly, and server, Peggy Weir, at The Chicken House in Sellersburg, Indiana, about the […] ...
Federal judge orders Trump admin to release EV funds signed by Biden to statesFederal judge orders Trump admin to release EV funds signed by Biden to states
A federal judge has ordered the Trump administration to release billions of dollars in funds former President Joe Biden approved to build electric vehicle infrastructure in 14 states. In granting a partial preliminary injunction Tuesday, U.S. District Judge Tana Lin – a Biden nominee – ordered that funding frozen by the Trump administration earlier this […] ...
Captain Morgan taking advantage of new wave of golfers, fans with go-to drinks and clothesCaptain Morgan taking advantage of new wave of golfers, fans with go-to drinks and clothes
Golf’s popularity has skyrocketed in recent years among younger generations. Five years ago, the sport was one of the few ways to get out of the house during COVID. And as beginners took lessons and hit the range, businesses jumped at the opportunity. Justin Faiber is Captain Morgan’s brand director, and he saw the tide […] ...
Housing crisis deepens as 47 major metro areas now require homebuyers to spend more than 30% of incomeHousing crisis deepens as 47 major metro areas now require homebuyers to spend more than 30% of income
The 30% rule — one in which potential homebuyers limit their mortgage payment to 30% of their monthly income — is a common standard that homebuyers typically follow so that the yearly cost of a home doesn’t put too much of a strain on their finances. However, according to a new report from Realtor.com, places […] ...
Former NY governor Cuomo concedes in Democratic primary but doesn’t rule out November runFormer NY governor Cuomo concedes in Democratic primary but doesn’t rule out November run
Former New York Governor Andrew Cuomo might have conceded in Tuesday night’s New York City Democratic primary, but he may not be out of the race just yet. “I spoke with the former governor, and he told me he is not ruling out running again in November,” Maria Bartiromo, host of “Mornings with Maria,” said […] ...
Job seekers in limbo as long-term unemployment persistsJob seekers in limbo as long-term unemployment persists
The U.S. labor market is in a holding pattern with relatively low unemployment, but a slower pace of hiring has caused the share of long-term unemployed workers to stagnate amid economic uncertainty. The Labor Department’s Bureau of Labor Statistics (BLS) tracks the number of individuals in the workforce considered long-term unemployed, which is defined as workers who […] ...
US trade faces pressure in Middle Eastern markets amid recent Israel-Iran conflict and Trump tariffsUS trade faces pressure in Middle Eastern markets amid recent Israel-Iran conflict and Trump tariffs
SOUTH PITTSBURG, Tenn. – Some U.S. manufacturers have raised concerns that conflict in the Middle East could dry up their business in the region. Recent missile attacks and the breach of a ceasefire agreement between Israel and Iran put global trade on alert as the Baltic and International Maritime Council warned the Strait of Hormuz […] ...