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American families continue to struggle to provide essentials in ongoing diaper crisis
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American families continue to struggle to provide essentials in ongoing diaper crisis

By  Sunny Tsai | Fox Business Diaper banks are stepping up to cover costs and babies’ bottoms across the U.S. as families struggle to pay for essentials for their newborns. Baby’s Bounty Center for Families in Las Vegas is a nonprofit that helps at-risk families with baby essentials, including diapers, car seats, foldable cribs, and clothes. The organization says a lot of parents are having a tough time these days. "An infant can use eight to 10 diapers per day. So, the need is significant, and they're incredibly expensive… we are not seeing this wane at all. We really thought that this was a COVID-based need. But week over week, we're seeing more and more families attend our diaper banks," said Baby’s Bounty CEO Kelly Maxwell. READ THE FULL STORY AT FOX BUSINESS
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Fed Chair Jerome Powell says immigration surge boosted unemployment rate
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Fed Chair Jerome Powell says immigration surge boosted unemployment rate

By Michelle Wells | Fox Business Federal Reserve Chair Jerome Powell said Wednesday that immigration is helping push the unemployment rate higher as they enter the labor force and look for jobs. Powell was asked about whether the level of job creation in the economy, which has been a little more than 100,000 on average for the last three months, is alarming and if the labor market can continue slowing down through fewer job openings as opposed to job losses. "On the job creation… it depends on the inflows," Powell said. "So if you're having millions of people come into the labor force, and you're creating 100,000 jobs, you're going to see unemployment go up. So it really depends on what's the trend underlying the volatility of people coming into the country." "We understand the...
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Kamala Harris’ tax plan could cost U.S. nearly 800k jobs, add $1.7T in tax revenue, study finds
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Kamala Harris’ tax plan could cost U.S. nearly 800k jobs, add $1.7T in tax revenue, study finds

By Eric Revell  | Fox Business Vice President Kamala Harris' tax plan could cost the U.S. economy nearly 800,000 jobs, a new analysis by the Tax Foundation finds. Harris' tax plan, which contains a variety of tax increases, cuts and credits, is based largely on President Biden's budget – though the vice president has offered her own policy ideas since becoming the Democratic presidential nominee.  Overall, the Tax Foundation analysis finds a loss of 786,000 full-time equivalent jobs over the long run under Harris' plan when compared to baseline projections, as well as 2% decline in long-run GDP and a 1.2% dip in long-run wages, while bringing in nearly $1.7 trillion in additional tax revenue over the next decade. READ THE FULL STORY AT FOX BUSINESS
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Remember Tupperware? The decades-old, iconic kitchen staple company has filed for bankruptcy
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Remember Tupperware? The decades-old, iconic kitchen staple company has filed for bankruptcy

By Breck Dumas and  Pilar Arias  | Fox Business Tupperware Brands Corporation has filed for bankruptcy, just months after the iconic American food storage container maker shuttered its last remaining plant in the U.S. amid financial woes. The company formally announced its voluntary decision to initiate Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware on Tuesday.  The company listed $500 million-$1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities, according to bankruptcy filings, which showed the number of creditors to be between 50,001-100,000. "Whether you are a dedicated member of our Tupperware team, sell, cook with, or simply love our Tupperware products, you are a part of our Tupperware family. We plan&nb...
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Federal Reserve to consider first interest rate cut in four years
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Federal Reserve to consider first interest rate cut in four years

By Eric Revell | Fox Business The Federal Reserve on Tuesday begins a highly anticipated two-day meeting where policymakers are expected to cut interest rates for the first time in four years as stubborn inflation shows signs of continuing to ease. The Fed's policymaking arm, the Federal Open Market Committee (FOMC), kicks off its meeting on Tuesday and will announce its decision regarding interest rates on Wednesday, when Fed Chair Jerome Powell will also shed light on the central bank's thinking at a press conference. After its last policy meeting in July, the Fed kept its benchmark federal funds rate steady at a 23-year-high range of 5.25% to 5.5% but opened the door to interest rate cuts if inflation continued to ease. Inflation data showed that price growth slowed t...
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CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’
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CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’

By Jasmine Baehr  | Fox Business JPMorgan Chase CEO has laid out the "worst outcome" for America's economic future, beyond recession. "The worst outcome is stagflation," said Dimon. "And by the way, I wouldn't take it off the table." 68-year-old Jamie Dimon made his remarks on Tuesday at the Council of Institutional Investors in New York. JPMorgan Chase is the largest bank in the United States according to Bankrate, with $3.4T in assets. Stagflation, a portmanteau of stagnation and inflation, refers to a state where economic growth slows while inflation and unemployment rise. The economic consequences of stagflation may cause retirement savings to go down as well as the stock market to crash; it was last seen in the U.S. during the 1970s, according to Inves...
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Billionaire on SpaceX Polaris Dawn mission conducts first private spacewalk
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Billionaire on SpaceX Polaris Dawn mission conducts first private spacewalk

 By Pilar Arias  | Fox Business Jared Isaacman, CEO of Shift4 integrated payment processing solutions, participated in the first ever private spacewalk by a group of astronauts who left a SpaceX capsule after a delay of a few hours, testing a new line of spacesuits in the company's riskiest mission yet. Along with the billionaire entrepreneur is a retired military fighter pilot and two SpaceX employees. The four have been orbiting Earth aboard Crew Dragon since Tuesday's pre-dawn launch from Florida of the Polaris Dawn mission. Isaacman "egressed Dragon" and conducted his first "suit mobility tests that will test overall hand body control, vertical movement with Skywalker, and foot restraint," according to a SpaceX post on X at 6:53 a.m. READ THE FULL STORY AT FOX BUS...
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Big Lots files for bankruptcy, will close some stores amid sale to investment firm
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Big Lots files for bankruptcy, will close some stores amid sale to investment firm

By  Pilar Arias | Fox Business About three months after Big Lots noted "substantial doubt about the Company's ability to continue" in a U.S. Securities & Exchange Commission (SEC) filing, the company said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital. This comes as the company has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 billion, according to a filing with bankruptcy court in Delaware, which showed creditors in the range of 5,001-10,000. Big Lots cited troubles that began during the COVID-19 pandemic, and "macroeconomic factors such as high inflation and interest rates that are beyond its control." RE...
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Molson Coors scraps ‘woke’ DEI policies in growing trend among U.S. companies
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Molson Coors scraps ‘woke’ DEI policies in growing trend among U.S. companies

By Breck Dumas | Fox Business Molson Coors is rolling back its diversity, equity and inclusion (DEI) initiatives, becoming the latest in a string of iconic American companies to step away from so-called "woke" policies in recent months. Conservative activist and filmmaker Robby Starbuck, who has been leading a campaign exposing major corporations' woke policies, said Tuesday on X that Coors sent him a letter its leadership team had circulated to employees that day to explain the changes after he threatened company executives last week. In the letter, provided to FOX Business from Coors, the company's executives said its human resources team began making plans in March to broaden the view of its DEI polices to ensure all "employees know they are welcome." The company did not commen...
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Elon Musk says Brazilian judge should go to prison in latest attack after X ban upheld in country
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Elon Musk says Brazilian judge should go to prison in latest attack after X ban upheld in country

By Brie Stimson  | Fox Business Elon Musk didn’t mince words on Monday, writing on his X platform that Brazilian Supreme Court Justice Alexandre de Moraes should be arrested.  "De Moraes deserves prison for his crimes," the tech billionaire wrote on X on Sept. 2 after the country’s high court upheld a ban on the social media platform.  The temporary ban was imposed over the weekend after Musk didn’t name a legal representative before a deadline in a case going back months in which the country demanded some accounts be suspended that had been implicated in probes of so-called digital militias accused of spreading misinformation and hate. READ THE FULL STORY AT FOX BUSINESS
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