Business

Elon Musk’s Boring Company eyes underground tunnel projects in 2 major US cities

Several U.S. cities could soon see major underground transportation upgrades led by billionaire Elon Musk’s The Boring Company (TBC). In a Tuesday post on X, the construction company named the winners of its nationwide “Tunnel Vision Challenge,” naming New Orleans, Louisiana, and Dallas, Texas, as candidates for new transportation systems.”Thanks…

Mortgage rates jump as Iran conflict hits housing market

Mortgage rates spiked this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.38% from last week’s reading of 6.22%. The average…

Maine lobster industry hit by harsh winter, falling catch and rising costs

PORTLAND, Maine – Maine’s lobster industry is facing mounting pressure after a harsh winter reduced fishing activity, slowed catches and added to rising costs across the sector. The state, the largest lobster producer in the U.S., recorded its fourth consecutive annual decline in total catch, according to the Maine Department…

Meta slashes roughly 700 jobs; layoffs hit multiple teams across the company

Meta is cutting roughly 700 jobs on Wednesday, a source familiar with the matter confirmed to FOX Business. The layoffs are expected to affect several key areas, including Reality Labs, Facebook, recruiting operations and sales, the source said.A spokesperson for the company said the layoffs are part of ongoing restructuring…