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U.S. national debt hits a record $36 trillion under Biden, and still growing
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U.S. national debt hits a record $36 trillion under Biden, and still growing

By Eric Revell  | Fox Business The U.S. national debt surpassed $36 trillion for the first time in the nation's history on Friday as the federal government continues to accumulate debt at a record-setting pace. New data from the Treasury Department released Friday afternoon showed that the gross national debt hit $36,034,994,586,981.97. The $36 trillion debt milestone comes just months after the U.S. eclipsed the $35 trillion mark in late July 2024. The national debt has passed other trillion-dollar milestones in the past year, as the $34 trillion mark was reached in early January 2024 and the $33 trillion threshold in September 2023. By comparison, the national debt hovered around $907 billion just four decades ago. READ THE FULL STORY AT FOX BUSINESS
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Trump’s energy ‘dream team’: Chris Wright and Doug Burgum’s potential to-do list
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Trump’s energy ‘dream team’: Chris Wright and Doug Burgum’s potential to-do list

By Breck Dumas  | Fox Business President-elect Trump has tapped two energy czars to oversee the expansion of American energy in his second term, and the industry has already handed the incoming administration and Congress a wish list of what they would like to see as the top priorities of leadership's agenda. On Friday, the incoming commander-in-chief announced in a press release that North Dakota Gov. Doug Burgum will not only be his nominee for Secretary of the Department of Interior, but will head up a new National Energy Council, which "which will consist of all Departments and Agencies involved in the permitting, production, generation, distribution, regulation, transportation, of ALL forms of American Energy." READ THE FULL STORY AT FOX BUSINESS
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Trump nominates Howard Lutnick as commerce secretary
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Trump nominates Howard Lutnick as commerce secretary

By Eric Revell , Paul Steinhauser  | Fox Business President-elect Donald Trump on Tuesday nominated Cantor Fitzgerald CEO Howard Lutnick to serve as commerce secretary. Lutnick, 63, has served as the co-chair of Trump's transition team and was a key fundraiser for Trump's 2020 and 2024 campaigns. Billionaire and Trump backer Elon Musk endorsed Lutnick for Treasury secretary.  A source familiar with the selection process said that it's a free for all for Treasury secretary and that there's a mad dash to find someone pro-tariff to lead the Treasury with Lutnick being tapped to lead the Commerce Department. They added that Lutnick was offered an ambassadorship but declined that offer. READ THE FULL STORY AT FOX BUSINESS
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Jaguar dubbed ‘Bud Light 2.0’ after releasing modernist rebranding ad with androgynous models, no cars
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Jaguar dubbed ‘Bud Light 2.0’ after releasing modernist rebranding ad with androgynous models, no cars

By Lindsay Kornick  | Fox Business Jaguar could be facing its own Bud Light moment after online backlash to a new ad on Tuesday. The car brand released a new promotional video debuting its reimagined logo on its X account under the slogan "Copy Nothing." The ad featured androgynous models in brightly colored, over-the-top outfits, including one man wearing a dress, along with other slo READ THE FULL STORY AT FOX BUSINESS
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Spirit Airlines files for chapter 11 bankruptcy protection
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Spirit Airlines files for chapter 11 bankruptcy protection

By Elizabeth Pritchett , Pilar Arias | Fox Business Spirit Airlines has filed for Chapter 11 bankruptcy protection following significant financial struggles due to mounting losses and debt maturities, the airline announced Monday. The filing comes after two failed mergers in less than two years – one recently with Frontier and another earlier in 2024 with JetBlue – which left the ultra-low-cost carrier in a bind after repetitive quarterly losses. In October, Spirit announced plans to sell multiple aircraft and lay off workers as it tried to raise cash and revive operations. READ THE FULL STORY AT FOX BUSINESS
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Musk and Ramaswamy’s DOGE opens hiring on X
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Musk and Ramaswamy’s DOGE opens hiring on X

By Eric Revell  | Fox Business The Department of Government Efficiency (DOGE), which President-elect Trump put Elon Musk and Vivek Ramaswamy in charge of, announced on Thursday that it is opening up hiring to interested candidates. DOGE wrote in a post on Musk-owned X that those who want to work on its cost-cutting push should send their résumés via direct message on X. To send a DM to the DOGE account, users are currently required to be verified, which entails at least an $8-per-month premium X subscription. "We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE. We don't need more part-time idea generators. We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous c...
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Former Chrysler exec says Trump’s win is prompting CEOs to move out of China
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Former Chrysler exec says Trump’s win is prompting CEOs to move out of China

By Taylor Penley  | Fox Business President-elect Donald Trump's landslide victory over Vice President Harris is already sending shockwaves through the business world as executives have looked to move production out of China since last week, former Home Depot and Chrysler CEO Bob Nardelli told FOX Business. "I think he's [Trump] going to be very positive about growth. He's going to be very protective. He's going to try to re-shore onshore stuff out of China," he said Tuesday on "Mornings with Maria." "Big discussion yesterday about the supply issue, basically superseding the domestic demand issue in China, so a lot of the companies I'm talking to and CEOs are already looking at how they're going to move out of China, either onshore, back to the U.S., or re-shore to another favorab...
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US stocks saw biggest inflow since June on day of Trump’s election win: Bank of America
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US stocks saw biggest inflow since June on day of Trump’s election win: Bank of America

By  Breck Dumas | Fox Business Investors poured $20 billion into U.S. equity funds on Wednesday after President-elect Donald Trump was declared the winner of the presidential election, according to Bank of America. The bank's strategists, led by Michael Hartnett, reported that it was the biggest daily stock inflow since June, and the $2.9 billion that flooded into financials was the highest on record. The note said the biggest picture is that "Trump won big, as US voters cared more about inflation, inequality…immigration than low unemployment," and the Republicans' "big sweep" equates to "big policies," with the potential for $8 trillion in tax cuts, $3 trillion in tariff revenues and $1 trillion in spending cuts. READ THE FULL STORY AT FOX BUSINESS
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Steve Madden announces plan to ‘rapidly’ move production out of China following Trump election win
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Steve Madden announces plan to ‘rapidly’ move production out of China following Trump election win

By Kristen Altus  | Fox Business Steve Madden’s CEO announced on a post-earnings call Thursday — less than 48 hours after Trump’s victory — that the retailer has put a "plan into motion" that cuts Chinese sourcing up to 45%. "You should expect to see the percentage of goods that we source from China to begin to come down more rapidly going forward," CEO Edward Rosenfeld said. The trendy shoe retailer also noted it would focus more of its operations at factory bases in Brazil, Mexico, Vietnam and Cambodia. READ THE FULL STORY AT FOX BUSINESS
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Trump’s White House win sends Dow up 1,000 points
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Trump’s White House win sends Dow up 1,000 points

By Suzanne O'Halloran  | Fox Business U.S. stocks soared Wednesday as Donald Trump defeated Vice President Kamala Harris in one of the most contentious elections in U.S. history.  The Dow Jones Industrial Average jumped over 1,300 points midday Wednesday, continuing the climb seen in the pre-market session after the president elect took the stage at his headquarters in Florida early morning, thanking his supporters and promising to restore the country.  "We're going to pay you back. We are going to do the best job. We're going to turn it around. It's got to be turned around, and it's got to be turned around fast. And we're going to turn it around" said Trump.  READ THE FULL STORY AT FOX BUSINESS
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