Business

Hyundai recalls more than 61,000 SUVs in the US after a child’s death

Hyundai Motor Company is recalling more than 61,000 Palisade SUVs in the U.S. after an issue with powered seats was linked to the death of a child, federal regulators said. The recall affects model year 2026 Palisade and Palisade Hybrid vehicles equipped with the Limited and Calligraphy trim packages, the…

Fed’s Bowman says she’s written in 3 interest rate cuts before year-end

Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday that she’s penciled in multiple rate cuts before the end of the year. “I’m still concerned about the job market,” Bowman, considered one of the more hawkish members of the Federal Open Market Committee, said during an interview on…

Gold Trump coin moves forward after Treasury invokes rare authority

The U.S. Mint is moving forward with a gold commemorative coin featuring President Donald Trump after a federal arts commission approved a design Thursday, with Treasury officials citing a legal authority that allows the inclusion of a sitting president despite longstanding restrictions. FOX Business confirmed with a source familiar with…

World’s largest furniture maker cuts hundreds of jobs amid major restructuring

An 80-year-old family-owned furniture company — which says it is the largest furniture manufacturer in the world — is cutting hundreds of jobs while restructuring a Texas plant. Earlier this month, Ashley Furniture filed a Worker Adjustment and Retraining Notification (WARN) with the Texas Workforce Commission, indicating that 266 employees…

Mortgage rates jump to highest level in over 3 months

Mortgage rates jumped this week to the highest level in nearly four months, 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 6.22% from last week’s reading of 6.11%. The average rate on…

Kohl’s CEO signals what’s next for stores after several closures

The CEO of Kohl’s signaled that the company isn’t planning on closing additional stores this year after it shuttered more than two dozen locations last year. Kohl’s closed 27 stores in 15 states in 2025 as the department store chain looked to get on better financial footing amid declining sales, and the…

90,000 bottles of children’s ibuprofen recalled nationwide, FDA says

Nearly 90,000 bottles of children’s ibuprofen have been recalled over the potential presence of a foreign substance, according to the Food and Drug Administration. Strides Pharma, Inc., headquartered in India, recalled about 89,592 bottles of its 100-milligram Children’s Ibuprofen Oral Suspension, the FDA said. The affected product was manufactured for Taro…