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Joined July 2009
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Tesla CEO Elon Musk said that the company is planning to "wind down" production of the Cybertruck at Gigafactory Texas around the middle of next year as it reallocates capacity to increase Cybercab production. The move marks a pullback from one of Musk’s closely watched projects. The futuristic Cybertruck was once touted as a rival to established pickup trucks. Download the Fox News app or go to FoxBusiness.com for more. Full story here foxbusiness.com/markets/tesl…
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AMC CEO Adam Aron says the movie theater giant has finally "recovered" from its pandemic-era struggles. The company reported $1.7 billion in total revenue in the third quarter, up 31.6% from a year ago, while adjusted EBITDA surged from $122.5 million to $347.5 million. Download the Fox News app or go to FoxBusiness.com for more.
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"Where other key players in our industry collapsed, at AMC we repeatedly instead have talked about recovery," Aron said on the earnings call. "Today, we can finally say that AMC has recovered." AMC is the largest movie exhibition company in the U.S. and the world, operating about 840 theaters and 9,500 screens globally.
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The momentum is not slowing down. Aron says AMC's October domestic box office was up about 35% from the same month last year, and he expects the remaining film slate in November and December to push both domestic and global box office totals to their highest full-year levels in seven years. Full story here foxbusiness.com/markets/amc-…
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Fox Corp. announced on Friday that it completed its acquisition of Roku to expand its streaming presence that already includes Tubi and FOX One. The company said the combination of FOX's live sports, news and local programming with Roku's open connected TV platform reaching over 100 million households will create "new opportunities for the company to serve its viewers, advertisers and partners." Download the Fox News app or go to FoxBusiness.com for more. Full story here foxbusiness.com/markets/fox-…
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Florida just gave homeowners another reason to stay, and potentially gave out-of-state buyers another reason to move. After 62% of voters approve a sweeping expansion of the state's homestead exemption, Miami real estate heavyweights are already talking about what it could mean for home prices, retirees and buyers fleeing higher-tax states. "I do believe it's going to give another uptick to home prices," luxury broker Dina Goldentayer told Fox News Digital. The change will shield up to $250,000 of eligible homes' assessed value from certain local property taxes by 2028, though critics warn the cuts could strain funding for essential services. One Miami broker says the biggest winners may not be wealthy buyers at all. See which homeowners could benefit most: foxbusiness.com/real-estate/…
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BREAKING: The U.S. economy delivers a major jobs surprise, adding 165,000 jobs in October and crushing economists' expectations. Economists had predicted just 65,000 new jobs after a sluggish September, when employers added only 29,000.
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BREAKING: U.S. economy adds 165,000 jobs in October, blowing past economists' expectations of just 65,000. The stronger-than-expected hiring numbers mark a sharp rebound from a soft September. The job growth comes as the unemployment rate also drops to 4.1%, beating forecasts that it would remain at 4.2%. See the other numbers from the new report: foxbusiness.com/economy/us-j…
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"The stock market suffered one of the worst days in history based on the results of the election." President Trump is blaming Democrats' sweeping midterm victories for Wall Street's losses, with the Dow plunging more than 1,800 points and the Nasdaq suffering its worst day since April 2025 on Thursday. Trump is warning Americans that their 401(k)s are taking a hit, accusing Democrats of triggering the sell-off after winning control of both chambers of Congress. The losses come just one day after stocks rallied following the election, with technology and AI companies taking some of the hardest hits. See which major tech stocks are getting hammered and what analysts say is driving the sell-off: foxbusiness.com/politics/tru…
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Elon Musk says Tesla will begin winding down production of its Cybertruck next year, marking a major shift for the futuristic electric pickup that has struggled to meet sales expectations. Musk says the company plans to scale back production at its Texas Gigafactory around mid-2027 to make room for increased production of its Cybercab robotaxi.
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