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How much did your Independence Day cookout cost? Likely more than it ever has.
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How much did your Independence Day cookout cost? Likely more than it ever has.

By Chris Pandolfo  | Fox Business Americans are paying a record high cost to host their July 4th cookouts this year as inflation, like the weather, is still hot.  According to the American Farm Bureau Federation (AFBF), a traditional Independence Day barbecue for 10 will cost $71.22, up from $59.50 in 2021. Higher prices for burger meat, buns, cheese and favorite sides like chips all add up to a painful bill to light up that grill. "Nationally, this means we are surpassing $7 per person for the first time, with the total meal coming to $7.12 a person," said AFBF economists Bernt Nelson and Samantha Ayoub. "Only two dishes decreased in price while everything else on your table rose, on average. Your grocery bill may be a shock, but it is in line with the inflation that has roiled t...
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John Deere will layoff more than 600 in production shift to Mexico
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John Deere will layoff more than 600 in production shift to Mexico

By Michael Dorgan  | Fox Business John Deere, the world’s largest seller of tractors and crop harvesters, on Friday announced another wave of layoffs, telling around 610 production staff at plants in Illinois and Iowa that they will be out of a job by the end of the summer.   The company is slashing around 280 workers from a plant in East Moline, Illinois, while another 230 employees are being let go at a factory in Davenport, Iowa. About 100 production employees at the company’s Dubuque, Iowa, plant will also be impacted. All layoffs are said to be effective from Aug. 30, the company tells FOX Business. The layoffs are being made due to reduced demand for John Deere's products from those factories. The company says it generated $10.166 billion in profits last ye...
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Supreme Court rules ex-Presidents have substantial protection from prosecution
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Supreme Court rules ex-Presidents have substantial protection from prosecution

By Brooke Singman , Brianna Herlihy  | Fox News The Supreme Court ruled Monday in Trump v. United States that a former president has substantial immunity from prosecution for official acts committed while in office, but not for unofficial acts. In a 6-3 decision, the Court sent the matter back down to a lower court, as the justices did not apply the ruling to whether or not former President Trump is immune from prosecution regarding actions related to efforts to overturn the results of the 2020 election. "The President enjoys no immunity for his unofficial acts, and not everything the President does is official," Chief Justice John Roberts wrote for the majority.  "The President is not above the law. But Congress may not criminalize the President’s conduct in carrying...
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More retirees consider return to work in response to high inflation squeeze
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More retirees consider return to work in response to high inflation squeeze

By  Megan Henney | Fox Business A growing number of retired Americans are considering returning to work as they continue to battle chronic inflation, according to a new survey published by the Motley Fool. About 44% of respondents said they are thinking about looking for work because their Social Security benefits have not adequately kept pace with high inflation. While Social Security recipients received a 3.2% cost-of-living adjustment in 2024, retirees say they are still struggling financially, the survey findings show. That is largely because the actual rate of inflation exceeded this year's 3.2% cost-of-living bump in March, April and May. READ THE FULL STORY AT FOX BUSINESS
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IRS plans to close ‘major’ tax loophole used by wealthy Americans
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IRS plans to close ‘major’ tax loophole used by wealthy Americans

By Megan Henney  | Fox Business The IRS and Treasury Department on Monday unveiled a plan to end a major tax loophole used by wealthy taxpayers, a move that could generate as much as $50 billion in revenue over the next decade. The plan targets so-called "partnership basis shifting," a transaction that allows a business or person to operate through many different legal entities in order to take more deductions and minimize what they owe, according to Treasury. "These tax shelters allow wealthy taxpayers to avoid paying what they owe," IRS Commissioner Danny Werfel said in a statement. READ THE FULL STORY AT FOX BUSINESS
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Kansas sues Pfizer over ‘misrepresentations’ and ‘adverse events’ of COVID-19 vaccine
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Kansas sues Pfizer over ‘misrepresentations’ and ‘adverse events’ of COVID-19 vaccine

By Brianna Herlihy  | Fox Business The state of Kansas has filed a lawsuit against pharmaceutical company Pfizer, Inc. for alleged consumer protection violations related to the company's manufacturing of the COVID-19 vaccine, saying the company marketed the shot as "safe" even though it "knew" the vaccine was connected to "serious adverse events."  "Pfizer misled the public that it had a ‘safe and effective’ COVID-19 vaccine," the 69-page lawsuit filed Monday in the District Court of Thomas County alleges. "Pfizer said its COVID-19 vaccine was safe even though it knew its COVID-19 vaccine was connected to serious adverse events, including myocarditis and pericarditis, failed pregnancies, and deaths. Pfizer concealed this critical safety information from the public,"...
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In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending
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In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending

By Aislinn Murphy | Fox Business Scores of American consumers have fathers and father figures for whom they want to show their appreciation this Father’s Day, and according to a National Retail Federation (NRF) estimate, they will collectively splash out an eye-popping amount of money to do so. The NRF and Prosper Insights & Analytics found in a survey that this year’s expected Father’s Day spending by American consumers will amount to the "second highest figure in the survey’s history" at $22.4 billion, according to a news release.  The survey found 75% of U.S. consumers expressed intentions to partake in the holiday. READ THE FULL STORY AT FOX BUSINESS
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Survey: Nearly 50% of parents with young children take on debt for Disney trip
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Survey: Nearly 50% of parents with young children take on debt for Disney trip

By Daniella Genovese | Fox Business Nearly 50% of parents with young children are going into debt after taking a trip to one of Disney's theme parks, according to a recent LendingTree report. LendingTree surveyed more than 2,000 consumers, 24% of which have gone into debt for the trip, a 33% increase from its 2022 findings. However, that figure jumped to 45% among parents with children younger than 18, according to the data. Of the parents with young children who have taken on debt, almost all of them, 83%, did so in the past five years. Parents, faced with tighter budgets and persistent inflation, "are more likely to take on debt than before," according to LendingTree. READ THE FULL STORY AT FOX BUSINESS
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Your Social Security COLA increase could be smaller than expected next year
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Your Social Security COLA increase could be smaller than expected next year

By Megan Henney  | Fox Business Social Security recipients are on track to receive a cost-of-living adjustment (COLA) next year that is smaller than previously expected after inflation moderated more than expected in May. Mary Johnson, a retired Social Security and Medicare analyst, estimated the adjustment could be about 3%, based on May inflation data, which showed the consumer price index was unchanged from the previous month and is up 3.3% from the same time last year. Both figures are lower than expected, suggesting high inflation is loosening its grip on the U.S. economy. READ THE FULL STORY AT FOX BUSINESS
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Skilled workers are in demand; these trade jobs pay the most
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Skilled workers are in demand; these trade jobs pay the most

By Breck Dumas | Fox Business Trade jobs in the U.S. are in a renaissance with high demand for skilled workers and waning interest in college among young adults. The shortage of workers in the trades has driven up the pay, making those positions more attractive and the training a better payoff than a four-year college degree, in many instances. Using data from the U.S. Bureau of Labor Statistics, job site Indeed recently reported that the average salary for a trade job in America is $61,900, but several occupations pay much more, even just starting out. READ THE FULL STORY AT FOX BUSINESS
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