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LARRY KUDLOW: President Trump is spot-on right to take over Greenland
Fox Business· 2026-01-20 00:13
"NATO has been telling Denmark, for 20 years, that "you have to get the Russian threat away from Greenland." Unfortunately, Denmark has been unable to do anything about it. Now it is time, and it will be done!!!" That’s President Donald J Trump writing on Truth Social, and he is spot on. Dead right. Denmark and NATO have had years and years to deal with the growing threats from China and Russia surrounding Greenland, but they’ve done nothing about it. And as Mr. Trump put it, Denmark currently has "two dogs ...
Trump calls NYSE Dallas expansion plans 'unbelievably bad' for New York
Fox Business· 2026-01-19 21:11
Core Viewpoint - The expansion of the New York Stock Exchange to Dallas has been criticized by President Trump as detrimental to New York, highlighting concerns over the city's leadership and its impact on the financial sector [1]. Group 1: Reactions to the Expansion - Dallas Mayor Eric Johnson supports the move, stating it is beneficial for both Dallas and the country, and acknowledges that New York's financial institutions relocating is not favorable for New York but seems inevitable [5]. - Johnson emphasizes that Dallas represents a future of free enterprise and has been experiencing growth in its financial services sector, attracting business leaders from New York [6]. - He predicts a significant migration of Wall Street firms to Dallas due to the perceived hostility of New York's mayor towards the business community and the push for higher taxes [7]. Group 2: Migration Trends - There is a noticeable trend of migration from high-tax states like California and New York to lower-tax states such as Texas and Florida, with Texas gaining over 361,000 residents from California and $21 billion in taxable income from 2012 to 2022 [9]. - More than 380,000 New Yorkers have moved to Florida during the same period, taking an estimated $37 billion in taxable income with them [10]. Group 3: NYSE Expansion Details - The New York Stock Exchange's planned expansion to Dallas, termed NYSE Texas, aims to enhance its presence in the South and Southwest, while not intending to replace its New York operations [11]. - NYSE Texas will operate as a reincorporation of NYSE Chicago, allowing electronic trading while maintaining primary listings elsewhere [12]. - Additionally, the Texas Stock Exchange is set to begin trading in 2026, and Nasdaq has already listed over 200 Texas-based companies, indicating a growing financial hub in the state [12].
Airlines have 580 million reasons to like GLP-1 weight-loss drugs, analysis finds
Fox Business· 2026-01-19 20:08
Group 1: Cost Savings for Airlines - Airlines could save approximately $580 million annually due to reduced passenger weight from weight-loss drugs, leading to lower fuel costs [1] - The top four U.S. airlines—American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines—are expected to benefit from these savings [1] Group 2: Impact of Weight-Loss Drugs - The popularity of weight-loss drugs like Ozempic and Wegovy is rising in the U.S., contributing to the potential weight reduction among travelers [5] - Novo Nordisk is developing an oral version of Wegovy, which has recently been approved and launched, potentially increasing accessibility for patients who prefer not to use injections [8] Group 3: Market Reactions - The stock performance of major airlines shows mixed results, with Southwest Airlines slightly up by 0.05%, while United Airlines, Delta Air Lines, and American Airlines experienced declines of 2.18%, 1.28%, and 2.16% respectively [6]
Affirm to offer buy now, pay later option for rent payments
Fox Business· 2026-01-19 19:26
Core Insights - Affirm is piloting a program to help renters split their monthly rent into two equal payments every two weeks at 0% APR, in partnership with Esusu [1][3] - The program aims to provide a flexible option for managing housing expenses, aligning payments with biweekly paychecks [3] - Affirm underwrites each application individually, ensuring that only those who can responsibly afford repayments are approved [5] Group 1: Program Details - The pilot program allows renters to make payments without hidden fees, late fees, or compounding interest [1] - Esusu assists renters in building credit by reporting on-time rent payments to major credit bureaus [2] - The official rollout date of the pilot program has not been confirmed as it is still in early stages [8] Group 2: Industry Perspectives - Analysts suggest that this program could be beneficial for those on tight budgets, but caution that it is too early for a definitive assessment [8] - Concerns have been raised about the potential risks associated with "buy now, pay later" (BNPL) services, particularly if consumers manage multiple loans simultaneously [11] - The payment method is linked to a debit card or checking account, emphasizing the importance of having sufficient funds to cover payments [12]
Americans' paychecks grow stronger as Main Street shows new economic strength
Fox Business· 2026-01-19 17:28
Economic Strength and Consumer Behavior - Recent economic data indicates growing strength on Main Street, with Americans' take-home pay increasing by 1.42% after inflation from January to December 2025, contributing to rising retail sales and home purchases [1] - Retail spending rose by 3.3% year-over-year in November and increased by 0.6% from the previous month, surpassing economists' expectations of a 0.4% rise [2] Housing Market Dynamics - Lower interest rates have led to a 5.1% increase in existing home sales in December, as reported by the National Association of Realtors [3] - The average 30-year fixed-rate mortgage fell to 6.19% in December, down from 6.24% in November and 6.72% a year ago, indicating improved housing market conditions [6] - Inventory levels in the housing market remain tight, with fewer sellers eager to move, but more inventory is expected to come to market starting in February [6] Inflation Trends - Inflation remained elevated at the end of 2025, with the consumer price index (CPI) showing a 0.3% monthly increase in December and a 2.7% rise year-over-year [9] - Core CPI, excluding food and energy prices, rose by 0.2% in December and is up 2.6% from the previous year [9] Employment and Federal Reserve Actions - The US economy added 50,000 jobs in December, contributing to a decline in the unemployment rate [10] - The Federal Reserve has cut its benchmark federal funds rate by 25 basis points in its last three meetings, indirectly contributing to lower mortgage rates [12] - Market expectations indicate a 95% probability that the Fed will maintain its current target range of 3.5% to 3.75% in the upcoming meeting [13]
Major Popeyes franchisee with over 130 locations files for bankruptcy
Fox Business· 2026-01-19 15:16
Core Viewpoint - A Popeyes Louisiana Kitchen franchisee, Sailormen Inc., has filed for bankruptcy due to mounting debt and various macroeconomic factors affecting its operations [1][2][3] Company Summary - Sailormen Inc. operates over 130 Popeyes locations in Florida and Georgia and is seeking to renegotiate $129 million in debt to emerge as a healthier franchisee [1][2] - The company attributes its financial struggles to the impact of the COVID-19 pandemic, high inflation, increased borrowing rates, and a limited qualified labor force [3] Industry Summary - The restaurant industry is facing a wave of bankruptcies, with projections indicating that more major chains will likely file for bankruptcy protection in the coming years due to heavy debt accumulated during the COVID-19 pandemic [8] - Experts suggest that many restaurants may not survive the next five years, leading to a decreased footprint in the industry [8][11] - The pandemic significantly reduced customer traffic, forcing operators to cover costs without sufficient revenue, leading to increased reliance on loans and government subsidies [12]
Supreme Court set to hear case this week in Trump fight over Lisa Cook’s Fed seat
Fox Business· 2026-01-19 14:07
The Supreme Court will hear arguments this week on whether President Donald Trump has the authority to remove Lisa Cook from the Federal Reserve’s Board of Governors, a case with broader implications for the central bank’s independence. The dispute stems from accusations by Trump administration officials last year that Cook committed mortgage fraud by misrepresenting her primary residence on loan applications. Trump sought to fire Cook over the allegations, but lower courts have so far blocked the move. A r ...
EU planning emergency summit as Trump threatens tariffs over Greenland
Fox Business· 2026-01-19 00:10
Group 1 - The European Union is convening an emergency meeting to respond to President Trump's threat of tariffs on countries opposing the U.S. acquisition of Greenland [1][4] - European Council President Antonio Costa expressed strong support for Denmark, which governs Greenland, indicating EU solidarity [1] - The EU is preparing retaliatory tariffs worth approximately $107.7 billion on a variety of U.S. goods, set to take effect on February 6 [4] Group 2 - Trump's focus on Greenland is linked to its strategic importance in the Arctic, providing access to critical resources and a foothold in a contested region [5] - The U.S. administration is awaiting a Supreme Court ruling regarding the legality of tariffs imposed in 2024, which adds context to the current tariff threats [8] - Trump stated that acquiring Greenland is essential for U.S. national security, further justifying his administration's aggressive stance [6][8]
PGA Tour unleashes AI revolution with AWS to transform golf viewing experience for fans worldwide
Fox Business· 2026-01-18 20:16
The PGA Tour has taken its partnership with Amazon Web Services to the next level. Since 2021, the PGA Tour and AWS have partnered together to deliver technical breakthroughs that are reshaping golf’s digital landscape.But as the golf season kicked off Thursday with the Sony Open in Hawaii, the Tour has modernized operations and scaled up production capabilities using AWS AI infrastructure in a live production environment. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM The expanded partnership will ...
How Venezuela went from South America's richest to poorest economy despite massive oil reserves
Fox Business· 2026-01-18 11:41
Economic Background - Venezuela was once the leading economy in South America due to the discovery of massive oil reserves in 1922, currently holding the largest reserves globally at 303 billion barrels [1] - Despite this wealth, Venezuela's economy is now the poorest in South America, raising questions about the mismanagement of its oil resources [1] Nationalization and Socialism - The nationalization of foreign oil companies in 1976 marked a significant turning point, leading to the establishment of Petróleos de Venezuela, S.A. (PDVSA) as the state-owned oil company [1] - The election of Hugo Chavez in 1998 initiated a shift towards socialism, with the introduction of "Plan Bolivar," aimed at poverty alleviation through infrastructure and health initiatives [4] Management Issues - In 2002, Chavez's government dismissed top PDVSA executives and 18,000 skilled workers, leading to a decline in operational expertise within the company [5] - The appointment of political allies over qualified professionals resulted in mismanagement, causing a rapid decline in oil production from 3.7 million barrels per day in 1970 to 1.1 million barrels per day recently [7] Economic Decline and Hyperinflation - Nicolás Maduro's presidency, starting in 2013, exacerbated the economic crisis, leading to hyperinflation that peaked at 375,000% in 2019 due to excessive money printing to fund government services [11] - The government's reliance on oil revenues failed as production and revenues fell, leaving the economy without alternative sectors to support it [12] Migration and Sanctions - Over the past decade, U.S. sanctions have targeted Venezuela, restricting financial arrangements with the government and contributing to economic isolation [15] - The number of Venezuelans living abroad surged from 700,000 in 2015 to approximately 7.9 million by last year, indicating a significant brain drain of skilled workers essential for economic recovery [16]