Business

American households are feeling the squeeze of inflation that has remained stubbornly above the Federal Reserve’s 2% target since the pandemic, and grocery prices have been a particular pain point in recent years. The most recent consumer price index (CPI) data from the Bureau of Labor Statistics showed that overall…

Nearly 6 million coffee makers are being recalled because their glass could break during use, increasing the risk of burn injuries, according to a notice from the Consumer Product Safety Commission. The recall affects 5.9 million Bodum French press coffee makers with 8-cup and 12-cup replaceable glass carafes. The carafe…

U.S. oil giants raked in billions of dollars in profits in the third quarter as oil prices surged amid supply constraints caused by conflicts around the world, contributing to higher prices at the pump for consumers. ExxonMobil, the largest U.S. oil producer by market capitalization, reported having more revenue from…

Americans who are looking to buy a home are facing a difficult market in terms of affordability due to high mortgage rates that are expected to persist into next year. Interest rates on a 30-year fixed mortgage have risen more than a full percentage point since the start of the…

Cryptocurrency giant Binance said Thursday that a major security incident had an estimated total impact of approximately $6.3 billion, with $3 billion already frozen, as the exchange temporarily suspended deposits and withdrawals and pledged to cover customer losses. In a statement to FOX Business, a Binance spokesperson said the company…

Google parent Alphabet lost approximately $500 billion in market value Thursday after its shares plunged nearly 13% following disappointing quarterly earnings, marking the second-largest single-day market value loss in stock market history. Alphabet’s Class A shares closed at $283.82, down 12.64%, wiping approximately $499.8 billion from the company’s market capitalization,…