Virgin Galactic’s launch on Thursday went off without a hitch, the latest big move from one of the three major billionaire-backed players in the increasingly-hot space race. SpaceX, run by tech CEO Elon Musk, and Blue Origin, founded by Amazon founder Jeff Bezos, have also had their own developments in […]
FOX Business News
Cleveland expands network of “smart buoys” to monitor Lake Erie water quality
Across Lake Erie, a network of digital monitors that serve as an early warning system for weather and water quality is now expanding. This week, officials with the Cleveland Water Alliance (CWA) redeployed several environmental monitoring “smart” buoys” in Lake Erie, along Ohio’s northern shoreline. The recent deployments join a […]
What Memorial Day travel will cost you this year versus last year
If you’re traveling for Memorial Day weekend this year, your wallet may be getting a bit of a break. The cost of travel for Memorial Day weekend in the U.S. eased slightly this year compared with a year ago despite the surge in demand. This may offer some relief to […]
Cummins braving debt ceiling jitters with $275M engine filter unit IPO
Diesel engine maker Cummins is going to buck the recent initial public offering draught and bring its engine filtration unit to market on Friday. Cummings priced the IPO of its unit to raise about $275 million on Thursday, defying volatile markets which are being shaken by uncertainty over a deal […]
Gas prices heat up ahead of Memorial Day weekend: AAA
A spike in gasoline demand heading into Memorial Day weekend has pushed up prices at the pump, according to the latest AAA gas prices report. The national average cost for a gallon of gas was $3.57 for the week ending May 25, AAA reported. That was up four cents from […]
Gap shares jump on surprise quarterly profit
Gap says restructuring efforts and easing supply chain costs led to a surprise profit in the first quarter. Investors liked the news, sending shares of the retailer jumping as high as 16% in extended trading. Executives said the company spent less on salaries and other operating costs in a bid […]
Elon Musk’s brain implant technology gains FDA approval
Elon Musk’s company Neuralink announced Thursday that it received approval from the Food and Drug Administration (FDA) to conduct its first-in-human clinical study. “We are excited to share that we have received the FDA’s approval to launch our first-in-human clinical study,” the company said in a tweet. Musk helped co-found […]
Costco CFO says company has been ‘fortunate’ to avoid theft
Costco CFO Richard Galanti said Thursday the company has been “fortunate” regarding theft. Galanti at one point said during Thursday afternoon’s earnings call that Costco’s shrink “is intact,” saying the company hasn’t “seen any major changes in shrinkage.” He noted it was a question the company had received a “couple […]
Treasury auction signals possible leeway on June 1 debt ceiling deadline
The Treasury Department announced Thursday that auctions for certain short-term Treasury bills will go ahead next week. And some observers have interpreted that as a sign lawmakers may have some additional time beyond the June 1 deadline to finalize a deal to raise the debt limit and avert a catastrophic […]
Another Fed rate hike could be in play during June meeting
Wall Street traders are ratcheting up the odds that the Federal Reserve lifts interest rates for the 11th straight time in June amid ongoing signs of inflationary pressures in the U.S. economy. Traders are now pricing in a 52.8% chance of another quarter-percentage point increase during the Fed’s June 13-14 […]