Bonuses on Wall Street could plunge by as much as 20% as dealmaking dries up and the stock market whipsaws because of economic turmoil caused by President Donald Trump’s trade war, according to a top consultancy. Johnson Associates, a compensation specialist, said deals have all but ground to a halt over Trump’s threats to slap … Read more
In just the last few months, new reports show artificial intelligence can complete high level work —like creating decks at elite consulting firms — and Elon Musk has put the odds of humanity’s annihilation from AI at 20%. Michael Kratsios — who may be the most important man you’ve never heard of — is at … Read more
The crisis at New Jersey’s Newark Liberty International Airport has not only been in the making for years, but it’s just “one of many volcanoes waiting to erupt,” according to American Airlines Capt. Dennis Tajer. Tajer, a pilot for over 30 years, is one of many aviation experts who told FOX Business that the air … Read more
Burger King must face a lawsuit claiming it misleads customers with advertisements that make its Whopper sandwich and other products appear larger than they are. In a decision on Monday, US District Judge Roy Altman in Miami found it plausible that “some” reasonable consumers in the proposed class action could be deceived by Burger King’s … Read more
Mattel Inc., the maker of Barbie dolls, Hot Wheels cars and other popular toys, said Monday that it would have to raise prices for some products sold in the US “where necessary” to offset higher costs related to President Trump’s tariffs. The El Segundo, California-based company said the increases are necessary even though it is speeding up … Read more
OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group’s leader Saudi Arabia seeks to punish some fellow members for producing above quotas. OPEC+ shocked oil markets in April by agreeing to a bigger-than-expected output hike for May despite weak … Read more
Tesla board members reached out about a month ago to several executive search firms to find a successor to CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions. The current status of the board’s push, which, according to the report, was sparked by Musk’s heavy involvement with the Trump administration, could not be determined, … Read more
Southwest Airlines became the latest US carrier on Wednesday to withdraw its financial forecast as President Trump’s trade war has created the biggest uncertainty for the industry since the COVID-19 pandemic. With little clarity on how consumers will behave in the face of a potentially worsening economy, airlines are struggling to accurately forecast their business. Travel is a discretionary item for many … Read more
Las Vegas Sands has withdrawn its planned bid to open a $4 billion casino complex at the site of the Nassau Coliseum on Long Island. The gaming giant’s announcement Wednesday caught some casino industry insiders by surprise. “Crazy,” one industry source said. A rendering of the proposed casino at Nassau Coliseum from Las Vegas Sands … Read more
The White House is considering slashing its steep 145% tariff on Chinese imports, in some cases by more than half, to ease heated trade tensions with Beijing, according to a report. President Trump’s massive tariff on China – which could raise prices on goods in the US and hamper company earnings – will likely be … Read more