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- A.I. Has Rewarded Investors. It May Now Pose Their Greatest Risk.
Near the midpoint of the year, stocks and bonds both report good returns. But the global stock market has become highly concentrated, our columnist says. [TheTopNews] Read More.2 hours ago - How Volkswagen’s Troubles Were Made in ChinaThe German auto giant’s push into China powered it for decades, but now the company faces fierce competition from Chinese automakers in markets around the world. [TheTopNews] Read More.2 hours ago
- The Work of Helping A.I. Destroy WorkStart-ups are paying white-collar professionals to teach their jobs to artificial intelligence models. It’s a bonanza. It’s bleak. Where will it end? [TheTopNews] Read More.2 hours ago
- White House, gas stations point fingers over stubborn prices while locations tha...
As oil prices react to the latest back-and-forth between the United States and Iran, fingers are being pointed as to why gas prices remain closer to $4 a gallon than $3 a gallon.The price of a barrel of oil influences the price of gas. Within the cost of a gallon, oil producers sell the oil to a refinery that in turn sells the gas to a station. Also, in the price consumers pay are state and local taxes, environmental maintenance for the station, and a credit card transaction fee.White House executive director of the National Energy Dominance Council Jarrod Agen says the administration sees more room for gas stations to lower costs. He says President Donald Trump personally watches the national price of gas very closely."The margins on gas at the pump have increased significantly ever since COVID," Agen said. "And so, they've kind of gotten out of control at this point. Traditionally, it is a very low margin area. But I think they've used the Iran war as a way to grow that margin." FIRST FREEDOM FUEL NETWORK OPENS AS TRUMP-BACKED DISCOUNTS ROLL OUTHe offered the example of the Freedom Fuel Network, which owns 25 stations around Philadelphia and New Jersey. The company deeply discounted the gas it sells, saying it reduced profit margin. Agen adds company executives told him, "We can sell it wholesale plus some of our cost and still save consumers about 50 cents per gallon, which is, that's real savings, and you know once one person does it, then kind of the rest of the market will follow." Aged said Freedom Fuel stations make up in volume what they are shrinking in profit margin.JET FUEL SPIKE KEEPS AIRFARES HIGH FOR BUSY SUMMER TRAVEL SEASONIn a FOX Business exclusive, a White House official said the network of gas stations saw fuel volumes increase 51.3% in July at the launch of their discount on July 3. The move forced 320 gas stations within a 40-mile radius to cut gas prices by 10 cents a gallon, according to the official who has seen the company data. The White House official said 600 stations reduced prices in a ripple effect related to the competition benefiting drivers in the areas around Philadelphia and New Jersey.National groups representing smaller gas stations pushed back on the growing profit margin narrative. Vice President of the National Association of Convenience Stores Jeff Lenard blamed some of the… [TheTopNews] Read More.2 hours ago - GOP billionaire reveals whether he would back Vance or Rubio in 2028Asked by media figure Andrew Ross Sorkin on Wednesday whether he would back Secretary of State Marco Rubio or Vice President JD Vance in a 2028 Republican presidential primary contest, multibillionaire Ken Griffin indicated that he had backed Rubio in the past and would be predisposed to do so again, Axios reported.The exchange occurred during an interview at the Allen & Company conference in Sun Valley, Idaho, according to the outlet, which noted that Griffin did not state what he would do to assist Rubio.Axios reporter Alex Isenstadt noted in the article that in his 2025 book, "Revenge: The Inside Story of Trump's Return to Power," he reported that Griffin urged then-former President Donald Trump not to pick Vance as his 2024 running mate.KEN GRIFFIN FIRES BACK AT MAMDANI, SAYS BUSINESS LEADERS MUST ‘FIGHT FOR THEIR CITY’Griffin supported Rubio when Rubio unsuccessfully sought the GOP presidential nod about a decade ago. During the last White House election cycle, Griffin shelled out $5 million in donations to a super PAC supporting GOP presidential primary candidate former U.S. Ambassador to the United Nations Nikki Haley, Griffin's spokesperson noted, The Associated Press reported.Griffin said after the general election in 2024 that he voted for Trump.A BILLIONAIRE'S BACKING – AND LIFELONG LOVE OF SOCCER – HELPED BRING MAURICIO POCHETTINO TO TEAM USARubio has indicated that he will not challenge Vance if the vice president throws his hat into the ring for the upcoming presidential race."If JD Vance runs for president, he’s going to be our nominee, and I’ll be one of the first people to support him," Rubio said, according to a 2025 Vanity Fair report.The founder and CEO of the hedge fund Citadel, Griffin is worth more than $51 billion, according to Forbes.HEDGE FUND BILLIONAIRE EXPANDS MIAMI DEVELOPMENT PLANS AFTER MAMDANI FEUDCLICK HERE TO GET FOX BUSINESS ON THE GOFOX Business reached out to Citadel on Thursday.Fox News Digital's Eric Revell contributed to this report [TheTopNews] Read More.3 hours ago
- Should you be switching bank accounts?
Martin Lewis covers whether you should be switching bank accounts. [TheTopNews] Read More.3 hours ago
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