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- White House teleprompter operator accused of making $100k off Trump speech bets
A White House staffer has been accused of using inside knowledge of speeches to make nearly $100,000 on Kalshi. [TheTopNews] Read More.35 mins ago - Calls for government taskforce to tackle povertyCharities, schools and businesses warn too many families are struggling with the cost of living. [TheTopNews] Read More.2 hours ago
- 7-Eleven details plans to close 645 stores
The parent company of 7-Eleven convenience stores shed more light on its plan to close hundreds of stores in the U.S. this year.Parent company Seven & i Holdings indicated in a filing earlier this year that it planned to close 645 7-Eleven stores in the company's fiscal year 2026.Seven & i Holdings' latest quarterly earnings report included a presentation about the company's various initiatives, including the restructuring of its store network amid the closure plans as well as conversion, remodels and new openings.It said that it plans to close 200 unprofitable 7-Eleven stores in fiscal year 2026, with 45 stores closed to date.POPULAR CONVENIENCE STORE CHAIN TO CLOSE HUNDREDS OF STORESThe company also said that it plans to convert 350 of its convenience stores to wholesale fuel sites in the fiscal year, with 72 stores having been converted as of the first quarter.Seven & i Holdings is planning to convert 390 stores to franchises this fiscal year and has done 43 to date.Despite the company's pullback, it's also pursuing selective expansion and is planning to open 205 stores this year. The presentation noted it had opened 30 to date in the first quarter.CONSUMER INFLATION COOLED MORE THAN EXPECTED IN JUNE AS GAS PRICES FELLSeven & i Holdings' plans to remodel 200 stores this fiscal year are expected to get underway in the second half of the fiscal year.Overall, the plans outlined by the company earlier this year show the total number of 7-Eleven stores in the U.S. declining from 12,712 as of February to 12,272 at the end of the year, for a net decrease of 440 stores.In late 2024, the company reported having 13,145 7-Eleven locations.WHITE HOUSE, GAS STATIONS POINT FINGERS OVER STUBBORN PRICES WHILE LOCATIONS THAT SLASHED PRICES SEE BOOMThe company's North American business has faced softer performance amid declines in customer traffic, according to company data.The planned closures come as Seven & i Holdings looks to streamline operations and optimize its store portfolio. The company didn't disclose which specific locations will be affected by the closures.GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business' Bradford Betz contributed to this report. [TheTopNews] Read More.2 hours ago - Here’s why the housing market is hurting so much this summer
Mortgage rates are high, home prices at record levels and consumers stressed. These are all contributing to a drop in existing home sales and builder sentiment. [TheTopNews] Read More.2 hours ago - Mortgage rates jump to highest level in almost a yearMortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% – the highest level since August 2025 – from last week's reading of 6.49%. The average rate on a 30-year loan was 6.75% a year ago.SILICON VALLEY ELITE SHIFT RECORD WEALTH TO BUILD FLORIDA'S NEW 'TECH CAPITAL'MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 — RIGHT AS MILLENNIALS RETIRE"Purchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving," said Freddie Mac chief economist Sam Khater.The average rate on a 15-year fixed mortgage rose to 5.93% from last week's reading of 5.82%.HOME SELLERS COULD BOOST OFFERS BY THOUSANDS WITH THIS SURPRISING PAINT COLORMortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.57% as of Friday afternoon.GET FOX BUSINESS ON THE GO BY CLICKING HERE [TheTopNews] Read More.2 hours ago
- Here’s what to expect when Netflix reports earnings after the bellInvestors will be looking for updates on Netflix's ad-supported business, engagement metrics and how the streaming giant continues to consider potential M&A. [TheTopNews] Read More.3 hours ago
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