Business

Amazon scooped up data from its own sellers to launch competing products

Amazon.com Inc. employees have used data about independent sellers on the company's platform to develop competing products, a practice at odds with the company's stated policies.The online retailing giant has long asserted, including to Congress, that when it makes and sells its own products, it doesn't use information it collects from the site's individual third-party sellers -- data those...

Public companies tapping small-business loans may not have met necessary certifications, Mnuchin says

Treasury Secretary Steven Mnuchin on Wednesday questioned whether some big companies receiving millions of dollars in government-backed loans from a program created to help small businesses have met the necessary certifications."I think a lot of these big companies  questionable whether they could make that certification," Mnuchin told FOX Business' Stuart Varney. "I think they should review it."

Stocks plunge as crude tanks to lowest level in over 20 years

U.S. equity markets slid Monday as oil crashed to levels last seen in 1998.The Dow Jones Industrial Average fell by as many as 489 points, or 2.02 percent, in the opening minutes of trading before paring its losses. The S&P 500 and Nasdaq Composite were down 1.53 percent and 1.01 percent, respectively, at their lows.TickerSecurityLastChangeChange...

Global stocks rally Friday on Gilead’s coronavirus treatment and Boeing’s production restart

U.S. stock futures are signaling a strong start to Friday's session adding to the momentum seen on Thursday.The Dow Jones Industrial Average are up more than 700 points or 3 percent while the S&P 500 was higher by nearly 3 percent and the Nasdaq Composite 2 percent.Earlier in the evening, President Trump outlined...

Trump holds CEO calls before coronavirus economic revival rollout

The early groundwork for reopening the U.S. economy is underway and President Trump, along with the nation's top CEOs and business leaders, are working in tandem to provide a blueprint on how an economic reboot may roll out as cases of the coronavirus peak in some areas."These encouraging developments have put us in a very strong position to...

Retail sales plunge to new low in March as virus freezes US spending

U.S. retail sales suffered the biggest drop in history in March, plummeting by 8.7 percent as the coronavirus pandemic forced businesses around the country to close and shoppers were directed to stay at home.It was the steepest decline since the government began tracking retail sales in 1992. February’s report was revised to a 0.4 percent decline.

Siemens CEO rules out job cuts from coronavirus impact

ZURICH - Siemens will not cut its workforce because of the economic downturn triggered by the new coronavirus, Chief Executive Joe Kaeser said, although short-time working measures could be extended in Germany.“No one at Siemens will leave because of a temporary fluctuation in activity,” Kaeser told Passauer Neue Presse in an interview published on Saturday.

As coronavirus strands travelers, tourism scrambles to survive

In the age of COVID-19, the word ‘travel’ tends to only apply to trips to the store for basic needs or walking from the bed to the couch and back. With almost the entire globe shut down, businesses that took years to build were brought to a standstill in just weeks.The sudden stop in...

Trader Joe’s fired staffer after coronavirus safety concerns were shared: Lawsuit

A Kentucky man has sued Trader Joe's claiming the company wrongfully fired him for posting about new coronavirus-related concerns in a private Facebook group, according to a report Friday.A rep for Trader Joe’s did not immediately respond to FOX Business’ request for comment, but spokesperson Kenya Friend-Daniel told the Louisville outlet the company “did not end his employment due to a...

Coronavirus stimulus payments: These individuals must take action to get checks

As the IRS prepares to begin depositing economic impact payments into Americans’ bank accounts, some groups of people will need to take action in order to get that cash.The payments will be automatic for the majority of taxpayers. The agency will use either your 2018 or 2019 return – depending on whether you have filed yet...

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