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Mortgage rates rise for second straight week, highest since July
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Mortgage rates rise for second straight week, highest since July

By Matthew Kazin  | Fox Business Mortgage rates spiked this week to the highest level in five months, ending the year slightly higher than where they started. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 6.85%, up from last week's reading of 6.72%. The average rate on a 30-year loan was 6.61% a year ago. This week's increase marked the highest level on the 30-year loan since mid-July, when the rate was 6.89%, according to Freddie Mac data. The lowest rate this year was 6.08% at the end of September, while the highest — 7.22% — was reached at the beginning of May. READ THE FULL STORY AT FOX BUSINESS
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Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation
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Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation

ByAlex Nitzberg | Fox Business Billionaire business tycoon Elon Musk shot down a scarcity mindset and suggested that there is basically unlimited potential for creating jobs and businesses. "The ‘fixed pie’ fallacy is at the heart of much wrong-headed economic thinking. There is essentially infinite potential for job and company creation. Think of all the things that didn’t exist 20 or 30 years ago!" Musk declared in a post on X. Musk's comment was in response to a post from entrepreneur Joe Lonsdale who had mentioned Sriram Krishnan — who President-elect Trump recently tapped for a role in his upcoming administration. Last month, Krishnan advocated for lifting a cap on green cards when replying to a post of Musk's regarding the Department of Government Efficiency (...
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Teamsters union launches historic nationwide strike against Amazon: ‘Paying the price’
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Teamsters union launches historic nationwide strike against Amazon: ‘Paying the price’

By  Elizabeth Pritchett  | Fox Business Thousands of Amazon workers organized under the Teamsters union went on strike at 6 a.m. Thursday after the company's "repeated refusal to follow the law and bargain." Amazon Teamsters at seven facilities in Skokie, Illinois; New York City, Atlanta, San Francisco and Southern California are participating in the "largest strike" against the trillion-dollar company in American history, the union said in a news release. Workers at other facilities are prepared to join them. Though Teamsters says it represents about 10,000 people across ten Amazon facilities in the U.S., the company doesn't recognize workers' affiliation with the union. READ THE FULL STORY AT FOX BUSINESS
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American Airlines ends DEI hiring practices after facing discrimination charges by conservative watchdog
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American Airlines ends DEI hiring practices after facing discrimination charges by conservative watchdog

By Yael Halon  | Fox Business American Airlines has reportedly agreed to end diversity, equity and inclusion (DEI) hiring and employment practices, joining a growing list of major corporations to halt the controversial "woke" initiative. America First Legal (AFL), a conservative watchdog organization, announced Tuesday that American Airlines has agreed to "abandon discriminatory employment practices" after AFL filed a complaint against the carrier.  "The airline acknowledged that recruiting and hiring based on Diversity, Equity, and Inclusion (DEI) violates federal laws and equal employment opportunities," AFL said in a statement. READ THE FULL STORY ON FOX BUSINESS
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Trump, Softbank CEO announce $100B investment to create 100,000 American jobs
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Trump, Softbank CEO announce $100B investment to create 100,000 American jobs

By  Greg Norman  | Fox Business President-elect Donald Trump and Softbank CEO Masayoshi Son announced Monday a $100 billion investment in America aimed at generating 100,000 new jobs. Trump, speaking at Mar-a-Lago after meeting Son there, called the investment "a monumental demonstration of confidence in America's future." "Masa runs one of the largest companies in Japan and among the most successful investment and technology companies anywhere in the world, one of the most successful investors in the world. And we've just concluded a very productive meeting," Trump said. "And today, I'm thrilled to announce that SoftBank will be investing $100 billion in America, creating 100,000 American jobs at a minimum. And he's doing this because he feels very optimistic about our country si...
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Potential artificial red dye ban: Products that could be affected
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Potential artificial red dye ban: Products that could be affected

By Daniella Genovese  | Fox Business A wide range of foods will be affected if the Food and Drug Administration (FDA) moves forward with plans to ban artificial red dye. According to the Eat Well Guide (EWG) Food Scores database, nearly 3,000 food products on the U.S. market contain red dye 3, including candy, certain brands of mashed potatoes, yellow rice and some medications. The list also includes a range of other foods, including breakfast cereals, beverages and baked goods.  The synthetic dye, also known as erythrosine, is an additive made from petroleum that gives foods and drinks a bright cherry-red color, according to the FDA. It is already banned in the European Union, and starting in January 2027, it will also be prohibited in foods sold or manufactured in California.  ...
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Boeing to layoff hundreds in Washington state as company-wide cuts continue
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Boeing to layoff hundreds in Washington state as company-wide cuts continue

By Elizabeth Pritchett  | Fox Business Boeing is laying off 396 employees at locations in Washington state, Reuters reported on Monday. The move is part of a 10% global workforce cut that the company announced in October, which is expected to impact approximately 17,000 jobs within Boeing. A total of 2,199 Boeing workers in the state of Washington – where its workforce totals more than 60,000 – will be laid off over the next few months, Fox Business reported in November. READ THE FULL STORY AT FOX BUSINESS
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Mark Zuckerberg visits Trump at Mar-a-Lago, reportedly ‘wants to support the national renewal’
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Mark Zuckerberg visits Trump at Mar-a-Lago, reportedly ‘wants to support the national renewal’

By Andrea Margolis | Fox Business Meta CEO Mark Zuckerberg visited Mar-a-Lago on Wednesday, just months after the tech entrepreneur publicly praised President-elect Trump following the July 13 assassination attempt. Zuckerberg's visit to Trump's Palm Beach, Florida, club was confirmed by Trump adviser Stephen Miller during an episode of "The Ingraham Angle" on Fox News Channel. "Mark Zuckerberg has been very clear about his desire to be a supporter of and a participant in this change that we're seeing all around America, all around the world with this reform movement that Donald Trump is leading," Miller said to guest host Brian Kilmeade.  READ THE FULL STORY AT FOX BUSINESS
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Walmart rolls back DEI policies, becoming latest U.S. firm to join growing trend
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Walmart rolls back DEI policies, becoming latest U.S. firm to join growing trend

By Breck Dumas , Daniella Genovese | Fox Business Walmart is making a slate of changes to its diversity, equity and inclusion (DEI) policies, becoming the latest in a growing list of major corporations to halt the so-called "woke" initiatives. Anti-woke activist and filmmaker Robby Starbuck, who has been leading a campaign exposing major corporations' woke policies, said on X on Monday that he warned Walmart executives last week that he would be doing a story on "wokeness" at the retail giant. "Instead," Starbuck shared, "we had productive conversations to find solutions." READ THE FULL STORY AT FOX BUSINESS
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Trump nominates Scott Bessent as treasury secretary; picks Russ Vought to lead budget office
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Trump nominates Scott Bessent as treasury secretary; picks Russ Vought to lead budget office

By Eric Revell , Sarah Rumpf-Whitten , Louis Casiano  | Fox Business President-elect Trump nominated Scott Bessent to serve as Treasury Department secretary once he returns to the White House in January. In a statement on Friday, Trump highlighted Bessent's expertise. "I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," he said. "Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists. Scott’s story is that of the American Dream." READ THE FULL STORY AT FOX BUSINESS
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