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Walmart CEO Doug McMillon meets with Trump on trade relations, investing in U.S.
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Walmart CEO Doug McMillon meets with Trump on trade relations, investing in U.S.

By Daniella Genovese  | Fox Business Walmart CEO Doug McMillon met with President-elect Donald Trump at Mar-a-Lago on Tuesday to discuss a range of topics, including investing in the U.S., trade relations and innovation.  The nation's largest private employer did not offer more details beyond that "it was a great conversation."  "We stand ready to help move our country forward," a Walmart spokesperson told FOX Business.   READ THE FULL STORY AT FOX BUSINESS
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Private sector adds 122,000 jobs in December, below expectations, ADP says
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Private sector adds 122,000 jobs in December, below expectations, ADP says

By Matthew Kazin  | Fox Business Companies in the private sector added 122,000 jobs in December, payroll processing firm ADP said on Wednesday. The figure is below economists’ estimates of 140,000 jobs and lower than the prior month’s reading of 146,000. "The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains," said Nela Richardson, ADP's chief economist. "Health care stood out in the second half of the year, creating more jobs than any other sector." READ THE FULL STORY AT FOX BUSINESS
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Mortgage rates kick off 2025 with an increase, nearing 7%
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Mortgage rates kick off 2025 with an increase, nearing 7%

By Breck Dumas  | Fox Business Mortgage rates are up for a third straight week to the highest since July, further hindering demand in the already-stagnant housing market. "Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months," said Sam Khater, Freddie Mac’s chief economist. "Compared to this time last year, rates are elevated and the market’s affordability headwinds persist." READ THE FULL STORY AT FOX BUSINESS
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President Biden to block sale of US Steel to Nippon Steel
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President Biden to block sale of US Steel to Nippon Steel

By Eric Revell  | Fox Business President Biden is blocking the proposed $14 billion acquisition of U.S. Steel by Nippon Steel. "A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains.  That is because steel powers our country: our infrastructure, our auto industry, and our defense industrial base. Without domestic steel production and domestic steel workers, our nation is less strong and less secure", Biden stated on Friday.  Biden previously expressed opposition to the deal and said that U.S. Steel should remain an American-owned and American-operated firm. The Biden-Harris administration's Justice Department investigated the deal on antitrust grounds, while the Committee on ...
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CCP-affiliated hacker breaks into Treasury Department system in ‘major incident’
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CCP-affiliated hacker breaks into Treasury Department system in ‘major incident’

By Andrea Margolis , Edward Lawrence  | Fox Business An actor affiliated with the Chinese government recently hacked the U.S. Treasury Department in a "major incident," officials announced on Monday. In a letter obtained by FOX Business, the Treasury Department disclosed the incident to Senate Banking Committee leadership. Officials learned of the breach on Dec. 8.  The cybercriminal reportedly gained access to Treasury Department workstations and documents via a security key. "Once Treasury was alerted by the service provider, we immediately contacted Cybersecurity and Infrastructure Security Agency (CISA) and have worked with law enforcement partners across the government to ascertain the impact of this incident," the spokesperson said.  READ THE FULL STORY ...
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Costco defends DEI program as other major retailers drop diversity push
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Costco defends DEI program as other major retailers drop diversity push

By Danielle Wallace  | Fox Business Costco's board of directors is urging shareholders to vote against a proposal that would eliminate the wholesale retailer's diversity, equity and inclusion (DEI) program.  "Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and suppliers. Our efforts around diversity, equity and inclusion follow our code of ethics: For our employees, these efforts are built around inclusion – having all of our employees feel valued and respected," the board of directors wrote in a message to investors previously reported by The Hill. "Our efforts at diversity, equity and inclusion remind and reinforce with everyone at our Company the importance of creating opportunities for all. We believe that thes...
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Mortgage rates rise for second straight week, highest since July
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Mortgage rates rise for second straight week, highest since July

By Matthew Kazin  | Fox Business Mortgage rates spiked this week to the highest level in five months, ending the year slightly higher than where they started. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 6.85%, up from last week's reading of 6.72%. The average rate on a 30-year loan was 6.61% a year ago. This week's increase marked the highest level on the 30-year loan since mid-July, when the rate was 6.89%, according to Freddie Mac data. The lowest rate this year was 6.08% at the end of September, while the highest — 7.22% — was reached at the beginning of May. READ THE FULL STORY AT FOX BUSINESS
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Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation
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Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation

ByAlex Nitzberg | Fox Business Billionaire business tycoon Elon Musk shot down a scarcity mindset and suggested that there is basically unlimited potential for creating jobs and businesses. "The ‘fixed pie’ fallacy is at the heart of much wrong-headed economic thinking. There is essentially infinite potential for job and company creation. Think of all the things that didn’t exist 20 or 30 years ago!" Musk declared in a post on X. Musk's comment was in response to a post from entrepreneur Joe Lonsdale who had mentioned Sriram Krishnan — who President-elect Trump recently tapped for a role in his upcoming administration. Last month, Krishnan advocated for lifting a cap on green cards when replying to a post of Musk's regarding the Department of Government Efficiency (...
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Teamsters union launches historic nationwide strike against Amazon: ‘Paying the price’
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Teamsters union launches historic nationwide strike against Amazon: ‘Paying the price’

By  Elizabeth Pritchett  | Fox Business Thousands of Amazon workers organized under the Teamsters union went on strike at 6 a.m. Thursday after the company's "repeated refusal to follow the law and bargain." Amazon Teamsters at seven facilities in Skokie, Illinois; New York City, Atlanta, San Francisco and Southern California are participating in the "largest strike" against the trillion-dollar company in American history, the union said in a news release. Workers at other facilities are prepared to join them. Though Teamsters says it represents about 10,000 people across ten Amazon facilities in the U.S., the company doesn't recognize workers' affiliation with the union. READ THE FULL STORY AT FOX BUSINESS
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American Airlines ends DEI hiring practices after facing discrimination charges by conservative watchdog
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American Airlines ends DEI hiring practices after facing discrimination charges by conservative watchdog

By Yael Halon  | Fox Business American Airlines has reportedly agreed to end diversity, equity and inclusion (DEI) hiring and employment practices, joining a growing list of major corporations to halt the controversial "woke" initiative. America First Legal (AFL), a conservative watchdog organization, announced Tuesday that American Airlines has agreed to "abandon discriminatory employment practices" after AFL filed a complaint against the carrier.  "The airline acknowledged that recruiting and hiring based on Diversity, Equity, and Inclusion (DEI) violates federal laws and equal employment opportunities," AFL said in a statement. READ THE FULL STORY ON FOX BUSINESS
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