Social Security recipients could see their benefits cut by 20% as soon as 2034 unless Congress takes action, according to the annual trustees’ report recently released by the Treasury. Trustees said that the Social Security trust funds will begin to run out of money by 2034, one year earlier than was […]
FOX Business News
Jobless claims come in higher than expected ahead of March jobs report
The number of Americans filing for unemployment benefits came in higher than expected last week, an early sign the labor market is beginning to soften in the face of higher borrowing costs. Figures released Thursday by the Labor Department show initial claims for the week ended April 1 hit 228,000, […]
Facebook chief Zuckerberg consumed by race to launch AI in snub to Musk-backed pause
Meta CEO Mark Zuckerberg and other executives at the company are spending most of their time working on artificial intelligence, according to Meta’s chief technology officer, who added that the company will not pause such research. “We just created a new team, the generative AI team, a couple of months […]
State-owned Bank of North Dakota’s unique structure garners attention in wake of banking crisis
The recent banking crisis that unfolded amid the failures of Silicon Valley Bank and Signature Bank has brought increased attention to the unique structure of the state-owned Bank of North Dakota and prompted speculation that it could serve as a template for other states to create their own banks. “Shark […]
Mega Millions jackpot soars past $400M for Friday night
The Mega Millions jackpot has surpassed $400 million for the first time in almost three months. It is also just the 19th time in the 21-year history of the game that it has reached this point. The jackpot rolled over after no ticket matched all six numbers drawn Tuesday night. The […]
Technical companies dealing with shortage of young, skilled trade workers
Technical companies are seeing an increase in older skilled-trade workers retiring. And there isn’t enough young people training to fill the open roles, leaving more supply than demand. “Full Speed Plumbing,” outside Seattle has an opening for a new apprentice, but finding the right candidate has been tougher than normal. […]
San Francisco ‘doom loop’ threatens to gut downtown economy as employees work from home
The San Francisco Chronicle’s editorial board put out a dire warning about San Francisco’s economy, emphasizing that the city needs to evolve as fast as possible to avoid a ‘doom loop’ from employees transitioning to remote work. “Experts say post-pandemic woes stemming from office workers staying home instead of commuting […]
Massachusetts medical diagnostic company execs accused of hiding lead test defect
Top executives of a Massachusetts-based medical device company face serious charges after being accused by the Department of Justice of allegedly knowing about and selling equipment that produced low lead test results for tens of thousands of patients. Magellan Diagnostics, Inc. CEO Amy Winslow, COO Hossein Maleknia, and Director of […]
Over 143k Volkswagen SUVs recalled due to issue that could affect front passenger airbag deployment
A recall issued by the Volkswagen Group of America for over 143,000 sport utility vehicles (SUVs) is underway, the National Highway Traffic Safety Administration (NHTSA) announced Tuesday. The consumer alert put out by the NHTSA said the passenger occupant detection systems in the SUVS subject to the recall could “deactivate […]
Cher selling Malibu mansion for $75M after slashing price by $10M
Cher is selling her spacious Malibu mansion for $75 million after dropping the price. Originally listed for $85 million, the Italian Renaissance-style estate, built in 1999, is located on the Pacific Coast Highway in Malibu. The main house is roughly 13,200 square feet with arched windows and doors facing the […]