Business

Musk’s SpaceX surges past Amazon in market cap after historic IPO debut

SpaceX stock continued to surge on Tuesday following its record-setting IPO last week, with the company’s market capitalization surpassing Amazon and briefly topping Microsoft. Elon Musk’s SpaceX debuted on the Nasdaq on Friday following its IPO and shares have risen about 35% since it began trading last week, as traders…

Noem warns of ‘coordinated’ effort to funnel Chinese nationals into US

China is allegedly orchestrating a highly coordinated, “travel agency”-style operation designed to funnel Chinese nationals across U.S. borders, former Department of Homeland Security Secretary Kristi Noem said Tuesday. Speaking exclusively on FOX Business’ “Mornings with Maria,” the current special envoy for the Shield of the Americas detailed intelligence she said…

Yum Brands sells Pizza Hut for .7 billion, sharpens focus on Taco Bell and KFC

Yum Brands announced on Tuesday that it is selling Pizza Hut to private equity firm LongRange Capital for $2.7 billion. The transaction would mark a significant shift for one of America’s most recognizable pizza chains and underscores growing consolidation across the restaurant industry as operators navigate slowing consumer demand and…

Outdoor retailer closing nearly 60 stores amid bankruptcy

West Marine is planning to close 59 stores around the country as it works through bankruptcy proceedings. The boating and fishing supply retailer based in Fort Lauderdale, Florida, filed for Chapter 11 bankruptcy protection last month and submitted a list of retail locations it intends to close amid its restructuring,…

Some rich Californians are giving away cash to skirt the state’s proposed billionaire tax

Rather than hand over their fortunes to the California state government, wealthy Californians are finding creative, tax-efficient ways to minimize potential billionaire-tax impact — including giving their money away. Some high-net-worth residents in the Golden State are intentionally reducing their balance sheets through philanthropy or real estate strategies because they…