Business news

• Stocks, gold hit records, and a port strike looms

  28-09-2024 21:35 via foxbusiness.com
  
  Stocks keep climbing, hitting a new round of records this week thanks to another cool inflation report. Not to be outdone, gold is gaining on its own, hovering at all-time highs. A looming port strike may bring an epic supply chain crunch, similar to what happened during the pandemic. Helene's vicious path rocks Florida. The Department of Justice wants justice from Visa over high fees. Sam Bankman-Fried's former gal pal, Caroline Ellison, was sentenced for her role in th
  
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• NTSB issues 'urgent' safety alert on Boeing 737 rudder system

  28-09-2024 19:19 via foxbusiness.com
  
  The National Transportation Safety Board (NTSB) issued urgent safety recommendations on Thursday to Boeing and the Federal Aviation Administration (FAA) in response to the potential for a jammed or restricted rudder control system on some 737 Next-Generation and 737 Max 8 aircraft. The rudder controls the side to side movement of the nose of the aircraft, otherwise known as the yaw motion. BOEING 737 MAX INCIDENT UNDER INVESTIGATION OVER 'STUCK' RUDDER PEDALSThe agency is in the midst
  
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• Frank Sinatra’s former Southern California home hits market for $7.9M

  28-09-2024 15:00 via foxbusiness.com
  
  Frank Sinatra’s former Southern California home, which has been used for dozens of TV and movie productions like "Mad Men" and "Dreamgirls," has hit the market for $7.9 million. The seven-bedroom, nine-bath mid-century modern house in the San Fernando Valley’s Chatsworth neighborhood was built in 1949 by William Pereira, who also designed the Los Angeles International Airport. Described by sellers Craig Knizek and Blair Chang of The Agency as "one of the most filmed ho
  
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• Fewer young people are choosing to buy or drive cars, seeking to avoid ‘financial burden’: Report

  28-09-2024 15:00 via foxbusiness.com
  
  Young Americans are increasingly choosing to rely on public transportation as the cost of car ownership has skyrocketed.Amid the rise of ride-sharing apps and a struggling national economy, Generation Z is finding other ways to get around, and it's manifesting in ways ranging from fewer road trips to a fall in car purchases. "The percentage of 19-year-olds with a driver’s license dropped steadily from 87.3% in 1983 to 68.7% in 2022, according to most recent data from the Federal Highway Ad
  
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• Bilt, Paris Hilton are offering a month of free rent: Here's how it works

  28-09-2024 15:00 via foxbusiness.com
  
  Bilt, a home and neighborhood loyalty program, is attempting to entice new users by offering them a chance to win a rent-free month through its family feud-style game. Every month, celebrities will join Bilt Rewards members in an online game of family feud called "Rent Free." Each month a new celebrity will be tapped to join Bilt's CEO Ankur Jain, who hosts the game. Ten winners will earn up to $2,500 to cover their rent for the month. This time, the company is teaming up with Paris Hi
  
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• Retired Wall Street CEO's home hits the market for $29.5 million in British Virgin Islands

  28-09-2024 14:00 via foxbusiness.com
  
  A multi-million-dollar beachfront home of a retired Wall Street bank CEO recently went up for sale in the British Virgin Islands.Bloomberg reported the luxury home had appeared on the Virgin Gorda real estate market and identified its current owners as former Morgan Stanley CEO John Mack and wife Christy Mack.The asking price for the property nestled in the Oil Nut Bay community is $29.5 million, according to its listing with Corcoran BVI’s Roz Colthart.The listing describes the luxury hom
  
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• Attention shoppers: Brace for empty shelves, rising prices if port workers strike, expert says

  28-09-2024 11:59 via foxbusiness.com
  
  Dockworkers along the East and Gulf coasts have pledged to strike unless a new contract is reached by October, prompting experts to warn that higher prices and empty shelves could await consumers. In fact, some experts say prices could rise before year's end, impacting goods during the critical holiday season. The dire situation arose just as consumers were beginning to experience some relief from inflation.POTENTIAL PORT STRIKES SEND RIPPLE EFFECTS THROUGH SUPPLY CHAIN, THREATEN INFLATIONT
  
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• Biden-Harris admin probe urged over Medicare premium offset plan before election

  28-09-2024 00:18 via foxbusiness.com
  
  A planned $5 billion Biden-Harris administration venture that would offset Medicare premium increases just before the presidential election may be a Hatch Act violation and should be investigated, according to a letter sent to the Department of Justice (DOJ) by Sen. Rand Paul, R-Ky.The Hatch Act prohibits political activity conducted in an official capacity."My colleagues and I are concerned that the Biden-Harris Administration is inappropriately using taxpayer funds to mask the defective Medica
  
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