Category: Business

  • Americans’ Super Bowl spending to rise despite inflation worries

    Americans’ Super Bowl spending to rise despite inflation worries

    Americans are getting ready for the Super Bowl to kick off on Sunday, and while spending on festivities related to the big game is up, more fans are wanting to dial it back than wanting to spend more, a new report found.

    A study by LendingTree found that 75% of Americans said they’ll tune into the Super Bowl but that of those who plan to watch nearly one-third, or 31%, say they’ll spend less on Super Bowl festivities than last year – well above the 19% who say they’ll spend more. Half of Americans say their spending will be the same as last year.

    Americans who do plan to spend on Super Bowl festivities expect to spend $142 on average, an increase of 22% from $116 a year ago. The top items they plan to spend on include food and beverages, as well as fan gear.

    “Even though more people are saying they’re going to spend less, the average amount for people who are going to spend was up fairly significantly,” Matt Schulz, chief credit analyst at LendingTree, told FOX Business. “You’re talking about $25 which isn’t going to change most people’s lives, but it’s not nothing either when you’re just talking about getting together to watch a football game with friends.”

    FOOD DEALS ABOUND FOR SUPER BOWL: WHAT CHAINS ARE OFFERING

    Jalen Hurts (left) of the Philadelphia Eagles and Patrick Mahomes (right) of the Kansas City Chiefs stand on stage next to the Vince Lombardi Trophy during Super Bowl LIX Opening Night at Caesars Superdome on February 3, 2025, in New Orleans, Louisia (Kevin Sabitus/Getty Images / Getty Images)

    “It’s a pretty significant divide there and, again, I just think that you can look back and blame so many things on inflation and high prices and high interest rates and all that, and I think this is another one of those cases most likely,” Schulz said.

    The report noted that 41% of Super Bowl watchers say they’ll place bets related to the game, including 66% of Gen Zers, 59% of parents with young children, 56% of Millennials and 51% of men. Most plan to place smaller bets, with just 41% planning to wager $100 or more and a similar number reporting they’ll use a credit card to place their bets.

    “Certainly, as we’ve seen since the pandemic, sometimes people just like spending more on what they want to spend on in order to kind of make up for how stressful a year it’s been or crazy things have been,” Schulz said.

    DURING SUPER BOWL LIX, FANS WILL EAT A STAGGERING AMOUNT OF CHICKEN WINGS

    Saquon Barkley reverse hurdle

    PHILADELPHIA, PENNSYLVANIA – NOVEMBER 03: Saquon Barkley #26 of the Philadelphia Eagles reverse hurdles over Jarrian Jones #22 of the Jacksonville Jaguars in the second quarter at Lincoln Financial Field on November 03, 2024 in Philadelphia, Pennsylv (Elsa/Getty Images / Getty Images)

    LendingTree’s findings come as a separate study conducted by the Bank of America Institute showed that Americans’ spending on spectator sports reached an all-time high in 2024.

    The Bank of America Market Landscape Insights study found that consumers spend an average of $1,122 on sports annually – a figure that includes everything from attending games to buying athletic equipment.

    SUPER BOWL LIX BATTLE: CHIEFS AND EAGLES ARE BOTH VALUED IN THE BILLIONS

    Travis Kelce, Taylor Swift

    Travis Kelce of the Kansas City Chiefs celebrates with Taylor Swift after a 17-10 victory against the Baltimore Ravens in the AFC Championship Game at M&T Bank Stadium on January 28, 2024 in Baltimore, Maryland. (Photo by Patrick Smith/Getty Images / Getty Images)

    Bank of America’s report delved into the local economic impact of live sporting events by looking at last year’s Super Bowl LVIII in Las Vegas, which pushed retail spending 8% higher compared to the rest of the month.

    Super Bowl LIX will air on FOX this Sunday, Feb. 9, at 6:30pm Eastern. The game is being played in New Orleans, Louisiana.

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    The Kansas City Chiefs – led by Patrick Mahomes and Travis Kelce – will look to make history as they pursue a third straight Super Bowl title.

    They will face the Philadelphia Eagles, as Jalen Hurts and Saquon Barkley look to bring the Chiefs’ run to an end.

  • Super Bowl 2025: Matthew McConaughey, Ben Affleck, Martha Stewart steal the show in big game day ads

    Super Bowl 2025: Matthew McConaughey, Ben Affleck, Martha Stewart steal the show in big game day ads

    Super Bowl LIX is coming up and audiences are gearing up for a great game.

    In addition to the showdown between the Kansas City Chiefs and the Philadelphia Eagles, audiences are looking forward to seeing the commercials airing during the game, which usually star big-name celebrities.

    This year promises the return of some of last year’s most iconic commercials, as well as some unlikely duos coming together.

    Here are some of the most highly anticipated ads featuring Hollywood’s biggest stars.

    McConaughey, Stewart and Affleck are some of the big stars featured in Super Bowl ads this year. (YouTube / Fox News)

    HOW TO WATCH SUPER BOWL LIX BETWEEN CHIEFS, EAGLES STREAMED ON TUBI

    Dunkin’ Donuts featuring Ben and Casey Affleck and Jeremy Strong

    The DunKings are back, for a new Super Bowl commercial.

    A teaser trailer, which aired during the Grammy Awards, showed Ben Affleck starring in yet another commercial for Dunkin’ Donuts, this time recruiting two more famous Bostonians, his brother Casey Affleck and Jeremy Strong.

    In the teaser trailer, Ben and Casey can be seen wearing bright orange sweaters with Dunkin’ Donuts patches sewn on, with Casey even sporting a bright pink hat and orange sunglasses. The ad starts with Ben pounding on Strong’s dressing room door, with Casey telling him, “Jeremy is a method actor! He will come out when he is ready!”

    Further poking fun at Strong’s reputation for having an intense preparation process, Casey explains that Strong is “doing research,” to which Ben replies, “I never did no research on nothin’! Look where I’m at!” After arguing, the two barge into the dressing room, only to find Strong soaking in a Dunkin’ branded barrel full of coffee grounds.

    Ben and Casey Affleck are starring together in a new Dunkin' DOnuts commercial for the Super Bowl.

    Ben and Casey Affleck are starring together in a new Dunkin’ Donuts commercial for the Super Bowl. (Dunkin’ Donuts YouTube)

    “We’re doing a Dunkin’ Donuts commercial, right?” Strong replies confidently, still smothered in coffee. “I’m just trying to find the character. I think I found a way in. You’re from Boston, I’m from Boston. Dunkin’ is Boston. Boston is Paul Revere. One if by land, two if by sea. Red coats are coming.”

    After Strong shares that he would “be ready in like three hours,” Casey quietly whispers to Ben that he “should have paid for Matt,” referring to Matt Damon, who starred alongside Ben in the ad for Dunkin’ Donuts last year.

    The words “Suit up, America” and “Feb. 9, 2025” then flash on the screen.

    Uber Eats featuring Martha Stewart, Matthew McConaughey and Greta Gerwig

    McConaughey and Stewart star together in an Uber Eats commercial.

    McConaughey and Stewart star together in an Uber Eats commercial. (Uber Eats YouTube / Fox News)

    Another set of Super Bowl commercials for Uber Eats have been released ahead of the big game, all starring Matthew McConaughey with different celebrities.

    In the first ad, McConaughey and Martha Stewart are in the kitchen together as she is chopping vegetables for a salad. “So, tell me about your salad, Martha,” he says in the clip, to which Stewart responds, “Well, it’s a Caesar salad.”

    MATTHEW MCCONAUGHEY, DENNIS QUAID, WOODY HARRELSON PUSH TO MAKE TEXAS NEW HOLLYWOOD

    McConaughey then goes on to point out she’s making the salad, “in a bowl,” eliciting a simple, “Obviously” from Stewart. He then added, “I know what you’re up to. This is a super bowl,” and was met with confusion from Stewart.

    Well, a super bowl is at Caesars to help you sell your Caesars during the Super Bowl, is it not?” McConaughey said, making references to the Caesars Superdome in New Orleans, where the big game will be played.

    An annoyed Stewart then responds, “I just want to focus on my salad,” a nod to her iconic 2002 interview on CBS News’ “The Early Show,” where she said the same sentence when the interviewer tried to ask questions about her insider trading scandal during a cooking segment.

    McConaughey also stars in a series of other ads for Uber Eats in various forms. In one ad, he can be heard leaving multiple voicemails pitching films to director Greta Gerwig.

    In another, McConaughey details his conspiracy theory that football was invented to sell food. The ad features many big stars, including Kevin Bacon, Stewart and Charli XCX. In the end, it turns out the whole thing was him making a pitch to Gerwig.

    HexClad featuring Gordon Ramsay and Pete Davidson

    Gordon Ramsay and Pete Davidson star together in a new commercial for HexClad.

    Gordon Ramsay and Pete Davidson star together in a new commercial for HexClad. (HexClad YouTube Channel / Fox News)

    Gordon Ramsay and Pete Davidson came together to star in the Super Bowl ad for HexClad, which is the first cookware brand to air a commercial during the big game.

    In the ad, the celebrity chef is brought to Area 51, where he is tasked with preparing a meal for a newly-discovered alien species. While there, he comes into contact with a number of aliens, one of whom is attempting to make Ramsay’s signature dish, a beef wellington.

    After learning about the technologically advanced HexClad pans, which he is told were “developed using materials from an alien spacecraft” and were leaked to the public eight years ago, he finds out the alien he is cooking for is actually Davidson.

    When a shocked Ramsay asks, “You’re an alien?” Davidson replies with, “All famous people are aliens.” Still confused, Ramsay points out that he is famous and not an alien, Davidson quips, “I meant like really famous people.” A confused alien then asks Davidson, “Who is this guy?” further poking fun at Ramsay.

    “We had a small list, and Gordon was the one who was like, ‘I want Pete Davidson,’” HexClad co-founder and CEO Danny Winer told The Hollywood Reporter. “It wasn’t a hard sell … Pete was a gem, and the two of them on the set, I mean, the only time there was a second take, it was when they were cracking each other up. There was great chemistry.”

    GORDON RAMSAY ‘LUCKY’ TO BE ALIVE FOLLOWING SERIOUS BICYCLE ACCIDENT

    Mountain Dew featuring Seal and Becky G

    Seal stars as an actual seal in a new Mountain Dew ad for the Super Bowl.

    Seal stars as an actual seal in a new Mountain Dew ad for the Super Bowl. (Mountain Dew YouTube / Fox News)

    Singers Becky G and Seal star in a new Super Bowl commercial for Mountain Dew, highlighting the Baja Blast flavor, which has hints of tropical lime flavoring.

    The ad starts with Becky G standing in her kitchen, when all of a sudden, the Mountain Dude slides across her center island with a bottle of the Mountain Dew Baja Blast. As soon as the singer takes a sip, she and the Mountain Dude are transported onto a boat in the middle of “Baja Beach.”

    After landing in the boat, Becky G and the Dude come across a rock covered in seals singing a cover of the song “Kiss from a Rose,” starting off with replacing “ba-ya-ya, ba-da-da-da-da-da, ba-ya-ya,” with “baja, baja, baja, baja.” It is soon revealed that the lead singer is in fact, Grammy Award-winning singer, Seal, with his face superimposed on a seal’s body.

    In the rhythm of the song, he continues to sing, “Baby, I compare it to a kiss from a lime, on the bay. Ooh, the more I think of it, it’s strange I’m a seal, yeah. My flippers can’t hold Mountain Dew, what a shame,” as a bottle of Mountain Dew slips onto the rock between his flippers. “There is so much a seal can tell you, so much he can say. Dew remains, my power, my pleasure, my flame.”

    As he wrapped up his song, two Orcas jumped out of the ocean in sync on either side of him, as a volcano erupted behind him, giving his song the cinematic ending it deserved.

    Following the performance, the camera pans back to the boat and a shocked Becky G, who definitively says “this is the weirdest thing I’ve ever seen.” The camera then zooms out to show Seal, now in his human body, sitting with his legs crossed and drinking a bottle of Mountain Dew. “Good-looking seal,” he says.

    “I think Mountain Dew is synonymous with the Super Bowl,” he told Fox News Digital. “The history that those two guys have had together speaks for itself, and so when I got the opportunity to be a part of that, it’s obviously something I jumped at, and I’m so happy I did it, cause it’s put a smile on people’s faces and it’s made people laugh. And it’s made me cool to my kids.”

    Häagen-Dazs featuring Vin Diesel, Michelle Rodriguez and Ludacris

    Vin Diesel, Michelle Rodriguez and Ludacris star together in a Super Bowl commercial for HÄAGEN-DAZS.

    Vin Diesel, Michelle Rodriguez and Ludacris star together in a Super Bowl commercial for HÄAGEN-DAZS. (HÄAGEN-DAZS US YouTube. / Fox News)

    The cast of “The Fast and the Furious” had a mini reunion when filming the Super Bowl commercial for Häagen-Dazs ice cream.

    In the commercial, Vin Diesel can be seen speeding down a canyon with views of the ocean on one side and his co-star, Michelle Rodriguez, in the passenger seat. As Diesel speeds up, Rodriguez pulls out a chocolate-covered Häagen-Dazs ice cream bar, and smiles as she bites into it.

    In the next clip, Diesel has slowed down the car as the two of them each enjoy an ice cream bar, smile at each other and take in the scenic views surrounding them.

    The two of them are soon joined by Ludacris, who pulls up beside them in a Jeep, and asks, “What happened to fast life?” Diesel just smiles and responds, with a Häagen-Dazs in his hand, “Not today.” A shocked Ludacris shouts, “What? Are y’all kidding me?” as he drives away. 

    Diesel then turns up the music as the words “NOT SO FAST, NOT SO FURIOUS,” flash on the screen.

    ‘FAST AND FURIOUS’ STAR VIN DIESEL SHARES TRIBUTE TO PAUL WALKER ON 9TH ANNIVERSARY OF HIS TRAGIC DEATH

    Squarespace featuring Barry Keoghan

    Keoghan stars in a new Super Bowl commercial for the website building company, Squarespace.

    Keoghan stars in a new Super Bowl commercial for the website building company Squarespace. (Squarespace YouTube / Fox News)

    In a new Super Bowl ad for the website building company, Squarespace, Barry Keoghan returns to his home country of Ireland to tell everyone how the website can make their lives easier.

    The ad sees Keoghan riding around the countryside on a donkey, with multiple laptops in tow. Throughout the commercial, he encounters many individuals either doing chores or engaging in a hobby, including playing an instrument, shepherding sheep or making horseshoes.

    As he passes them, Keoghan throws a laptop, with the tab open on a website with more information on what they were doing, as he continues to preach about the benefits of Squarespace. 

    The commercial concludes with Keoghan riding off a cliff with his donkey as it continues to walk in thin air. The “Saltburn” actor then explained, “Making real what did be wanting to be, and now does be!” and the words, “A website makes it real” then flashed on the screen.  

    Keoghan’s appearance in the ad and his character’s dialogue was a callback to his role in the critically acclaimed film, “The Banshees of Inisherin,” which was also filmed in Ireland and also featured a donkey as his co-star.  

    NerdWallet featuring Kieran Culkin

    Kieran Culkin voices a genius whale in a new NerdWallet commercial for the Super Bowl.

    Kieran Culkin voices a genius whale in a new NerdWallet commercial for the Super Bowl.  (NerdWallet YouTube / Fox News)

    Academy Award-nominated actor, Kieran Culkin, is the voice behind NerdWallet’s latest mascot – the genius whale.

    In a new commercial for the personal finance company, Culkin voices a beluga whale. At the start of the commercial, viewers meet a man on a boat in what appears to be a whale-watching trip, taking pictures of the ocean, as a voice in the background announces that “the beluga whale has the IQ of a human genius.”

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    Soon after, the man drops his phone into the ocean, but it’s luckily picked up by Culkin’s genius beluga. The whale then begins to tell the stunned man about the financial benefits of using NerdWallet, while also joking around with the man about being a genius.

    The whale then swims away without giving the man his phone back, as the words “Letting NerdWallet do the work for you is genius,” flash onto the screen.

    “I never expected to be a whale here, but here it is!” Culkin told People earlier this week. “I showed my wife it to see what you think, and she actually laughed really hard.”

    TurboTax featuring Issa Rae

    Issa Rae stars in a new ad for TurboTax, set to premiere during the Super Bowl.

    Issa Rae stars in a new ad for TurboTax, set to premiere during the Super Bowl. (TurbaTax YouTube / Fox News)

    “Insecure” star Issa Rae can now cross starring in a Super Bowl commercial off her list.

    TurboTax released a 16-second teaser trailer of their commercial for their “done-for-you” tax prep solutions, which is scheduled to air during the big game.

    In the teaser, the actress can be seen carrying a box labeled “TAXES,” full of receipts, which were flying away in the wind. Rae then looks into the camera and says, “It’s 2025! This is taxes?” as the wind blows a piece of paper onto her face.

    The words “A better way is coming. 2.9.25” then appear on the screen.

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  • Cracker Barrel promises no egg surcharges, doubles rewards after Waffle House announcement

    Cracker Barrel promises no egg surcharges, doubles rewards after Waffle House announcement

    Cracker Barrel is cementing itself as a good egg in the restaurant industry, promising customers constant prices following competitors’ recent egg surcharge announcements.

    “Egg prices are staying put, but we’re doubling your rewards,” the company wrote in a Facebook post.

    On Thursday night, the company announced that Cracker Barrel Rewards members will also earn double pegs on all egg dishes through Wednesday.

    Florida, Stuart, Cracker Barrel Old Country Store. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images) (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)

    SHELLING OUT: EGG PRICES RISE NEARLY 37 PERCENT

    The announcement comes after ongoing outbreaks of the bird flu led to an increase in egg prices and limited availability nationwide.

    Earlier this week, Fox Business reported a number of companies plan on adding egg surcharges amid the recent shortage.

    Waffle House, a sprawling Southern breakfast food chain, on Monday implemented a temporary .50 per egg surcharge across all of its menus.

    Cracker Barrel Old Country Store V

    Cracker Barrel Old Country Store is an American restaurant and gift store chain that serves Southern-inspired food. (iStock / iStock)

    EGG PRICES AREN’T COMING DOWN ANYTIME SOON, EXPERTS SAY

    The company released a statement saying both consumers and restaurants are “being forced to make difficult decisions.”

    “Rather than increasing prices across the menu, this is a temporary, targeted surcharge tied to the unprecedented rise in egg prices,” the company wrote.

    While price fluctuations will be “short-lived,” the company said it is unclear how long the shortage will last.

    Cracker Barrel classic store interior

    A deer head hangs above a hearth inside a Cracker Barrel Old Country Store Inc. restaurant and gift shop in Louisville, Kentucky, U.S., on Monday, Sept. 23, 2019. Cracker Barrel is scheduled to release earnings figures on November 26. Photographer: L (Luke Sharrett/Bloomberg via Getty Images / Getty Images)

    BIRD FLU VACCINE: WHAT TO KNOW

    Waffle House, which has nearly 2,000 locations across 25 states, clarified eggs will remain on the menu, but said prices will be adjusted as market conditions allow.

    Ticker Security Last Change Change %
    CBRL CRACKER BARREL OLD COUNTRY STORE INC. 57.50 -2.48 -4.13%

    Sean Kennedy, National Restaurant Association executive vice president of public affairs explained that during shortages, operators collaborate with food suppliers to assess the impact.

    They may later make the decision to curb the financial toll by altering menus or raising prices.

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    Fox Business’ Daniella Genovese contributed to this story.

  • DOGE cuts, Trump’s tariffs and Super Bowl Sunday

    DOGE cuts, Trump’s tariffs and Super Bowl Sunday

    -Stocks ended Friday and the week on a down note as Trump’s tariffs roiled investors 

    -U.S. Treasury Secretary Scott Bessent gives FOX Business his first wide-ranging interview, while Energy Secretary Chris Wright pumps up the American energy industry 

    -DOGE clocked another week of cost-cutting. We’ve got the rundown

    -Trump’s crypto and AI czar David Sacks sets tone for digital assets 

    -Costco’s commitment to DEI and a deep dive on lucrative employee rewards 

    -America’s egg crisis rages on 

    -Super Bowl LIX — how you can win!

    STOCKS SLIDE: President Donald Trump made good on his promise of tariffs against Canada, Mexico and China. The move left investors uneasy with stocks falling on Friday and for the week.more on the markets here. Bitcoin was volatile, dipping below $100,000…LIVE cryptocurrency prices here. 

    MUTED JOB GROWTH: Job growth in January was so-so and overall revisions loomed large on prior reports…continue reading here. 

    POWELL TO CAPITOL HILL: Federal Reserve Chair Jerome Powell, already in Trump’s crosshairs, will address Congress on Tuesday in his annual appearance to discuss the state of the economy…more on the Federal Reserve here.

    TARIFF JOCKEYING: Trump kept his promise rolling out tariffs against Canada, Mexico and China and a lot of back-and-forth took place between the White House and those countries. Here’s how it may impact the cost of everyday items…continue reading here. Here’s a primer on how tariffs work…continue reading here.

    AMERICAN ENERGY IS BACK: Newly confirmed Energy Secretary Chris Wright tells FOX Business he’ll waste no time in pumping up the oil and gas industry…watch the full interview here.

    TREASURY’S ROADMAP: U.S. Treasury Secretary Scott Besset outlined his plans for tax cuts…continue reading here. He also defended the rapidly moving DOGE arm…continue reading here. 

    VIDEO: Watch Bessent’s first interview since being confirmed. 

    DOGE DOING IT: The Department of Government Efficiency is moving quickly to slash waste. Here’s what they’ve done so far…continue reading here. Palantir’s CEO gave a hat tip to the DOGE team for being able to ferret out the “Deep State”…continue reading here.

    CRYPTO KING: The U.S. is entering what could be the ‘Golden Age’ for digital assets continue reading here.

    VIDEO: How Silicon Valley is working with a crypto-friendly Trump. 

    COSTCO DEI: Workers at the popular warehouse chain earned more if they pushed DEI policies…continue reading here. 

    EGG CRISIS: Some restaurants are charging an egg surcharge…continue reading here. Still, this may be better than an overall price hike…continue reading here.

    AMAZON: The largest online retailer plans to drop a cool $105 billion…check Amazon stock price here.

    VIDEO: Why Amazon’s AI push is misunderstood? 

    SUPER BOWL LIX: Ahead of the Kansas City Chiefs and Philadelphia Eagles match-up, you can celebrate your own Super Bowl with big meal deals…continue reading here.

    VIDEO: NFL legend Drew Brees is a savvy investor in big-name brands and chains.

    TAX TIPS: WHAT TO KNOW

    TAX SEASON 2025: Do this one thing before filing your taxes…continue reading here.

    WATCH FOX BUSINESS NETWORK HERE

    DON’T MISS IT: The FOX Business Rundown Podcast — more podcasts here.

    FOX Business podcasts. (FOX Business)

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  • Accenture dropping corporate DEI policies

    Accenture dropping corporate DEI policies

    Accenture is taking steps to end its global diversity, equity and inclusion (DEI) goals amid changes in the U.S. political and legal landscape, according to an internal memo reviewed by FOX Business.

    The global information technology (IT) and management consulting firm said in a memo from CEO Julie Sweet to employees on Thursday that it is “sunsetting” its diversity goals it established in 2017, which had largely been achieved, while DEI targets will no longer be used to assess staff performance. The Financial Times was the first to report the development.

    The company is winding down career development programs “for people of specific demographic groups” and is planning on “investing more in our core career development programs across Accenture as part of refreshing our talent strategy.”

    Accenture is also pausing its submissions to external diversity benchmarking surveys while it takes time to evaluate its participation in those surveys.

    TRUMP LEADS A PUSHBACK AGAINST DEI, BUT THESE COMPANIES ARE NOT BACKING DOWN

    Accenture joined the growing list of companies rolling back DEI policies. (Smith Collection/Gado/Getty Images / Getty Images)

    Sweet noted the “evolving landscape in the United States, including recent executive orders with which we must comply” as contributing to the moves.

    Ticker Security Last Change Change %
    ACN ACCENTURE PLC 387.34 -10.91 -2.74%

    “We are and always have been a meritocracy. We are and always have been committed to an inclusive, merit-based workplace free from bias, and a culture in which all our people are respected, feeling a sense of belonging and have equal opportunity,” Sweet wrote.

    GOOGLE DROPS DIVERSITY HIRING TARGETS, REVIEWING DEI POLICIES: REPORT

    “We have always believed that attracting, hiring and developing people who have different backgrounds, different perspectives and different experiences are essential to driving innovation and serving global companies across multiple industries,” she added.

    Sweet’s memo noted that Accenture is continuing to support Employee Resource Groups and Networks, which are “open to all of our people and have broad participation, membership and allyship.”

    IS DEI DYING? HERE’S THE LIST OF COMPANIES THAT HAVE ROLLED BACK THE ‘WOKE’ POLICIES

    Employees work with a skyline view

    Accenture is winding down the DEI policies it created in 2017 and updated in 2020. (Brian Cassella/Chicago Tribune/Tribune News Service via Getty Images / Getty Images)

    Accenture’s announcement comes as several major companies have dropped or revised DEI policies over the last year.

    Amazon, Facebook parent Meta, Google, McDonald’s, Boeing, Molson Coors, Lowe’s, Harley-Davidson, Deere, Apple, Target, Vanguard and more have all announced changes to diversity goals and policies since 2024.

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    Reuters contributed to this report.

  • Trump unafraid of putting Musk in front of press: ‘He’s not shy’

    Trump unafraid of putting Musk in front of press: ‘He’s not shy’

    President Donald Trump is not apologizing for Elon Musk. In fact, he seems ready to show off the tech billionaire. 

    On Friday, while taking questions during a bilateral meeting with Japanese Prime Minister Shigeru Ishiba, Trump was pressed by a reporter on whether the media would have a chance to question Musk.

    “Oh, sure. He’ll be— He’s not shy. Elon’s not shy,” Trump answered.

    President-elect Donald Trump, right, walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024. (Brandon Bell/Pool via Reuters TPX Images of the Day / Reuters)

    Trump was also asked about a recent Time magazine cover depicting Musk sitting behind the Resolute Desk in the Oval Office at the White House. In response, Trump, who was named Time’s 2024 Person of the Year, quipped that he didn’t realize the magazine was still around.

    “Is Time magazine still in business? I didn’t even know that,” Trump joked. However, he went on to give the tech billionaire some serious praise. “Elon is doing a great job. He’s finding tremendous fraud, and corruption, and waste.”

    The president specifically praised Musk’s work in going through U.S. Agency for International Development (USAID) spending, saying that “the whole thing is a fraud.”

    “Every single line that I look at as far as events and transactions is either corrupt or ridiculous,” Trump told reporters before adding, “He’s doing a very good job. I’m very happy with him.”

    Trump and Musk at UFC fight

    President-elect Donald Trump, left, and Elon Musk talk ringside during the UFC 309 event at Madison Square Garden in New York City on Nov. 16, 2024. (Chris Unger/Zuffa LLC / Getty Images)

    DEMOCRATS TRY TO SCARE FEDERAL WORKERS FROM ACCEPTING DOGE’S BUYOUT OFFER

    Just over two weeks into Trump’s second term, the head of the Department of Government Efficiency (DOGE) became the target of Democrats’ ire, with many protesting against him.

    On Saturday, Musk claimed that DOGE had uncovered that the Treasury Department had instructed staff to approve payments to “known fraudulent or terrorist groups.”

    ELON MUSK IS FIXING THE FEDERAL BUDGET AT LIGHT SPEED: KEVIN HASSETT

    Democrats were outraged that Musk, a private citizen, was given access to sensitive Treasury Department payment systems.

    “Anytime a person can pay $250 million into a campaign, and they be given full access to the Department of the Treasury of the United States of America, we are at war,” Rep. LaMonica McIver, D-N.J., said during a rally hosted by MoveOn Civic Action, Indivisible and the Working Families Party on Tuesday.

    Anti-Elon Musk protestors demonstrate

    Demonstrators rally outside the Treasury Department in Washington, D.C., on Tuesday. (Reuters/Kent Nishimura / Reuters)

    In a letter Tuesday to federal lawmakers, a Treasury Department official said a tech executive working with DOGE will have “read-only access” to the government’s payment system. 

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    Despite Democrats’ fury, Treasury Secretary Scott Bessent defended Musk during an appearance on FOX Business’ “Kudlow.”

    “Elon Musk is the greatest entrepreneur of this generation,” Bessent said. “DOGE is not going to fail. They are moving a lot of people’s cheese here in the capital, and when you hear this squawking, then some status quo interest is not happy.”

    Fox News’ Louis Casiano contributed to this report.

  • Allstate says California wildfires to bring company .1 billion in losses

    Allstate says California wildfires to bring company $1.1 billion in losses

    Allstate said the wildfires that blazed through Southern California last month will bring the insurance company a sizable loss.

    CEO Tom Wilson said in a statement Wednesday that the wildfire-related losses are “expected to be about $1.1 billion, pre-tax, net of reinsurance, reflecting a decision to reduce market share beginning in 2007 and a comprehensive reinsurance program.”

    Allstate’s expected loss from the Los Angeles-area wildfires was disclosed in the insurance company’s fourth-quarter earnings release.

    A sign is shown on the entrance of an Allstate brokerage office on February 7, 2024, in Chicago, Illinois. Allstate Corp. today reported fourth-quarter earnings which exceeded Wall Street expectations. (Photo by Scott Olson/Getty Images) (Scott Olson/Getty Images / Getty Images)

    The company’s share of the California homeowners market stood at 5.8% at the end of 2023, down significantly from 12.6% 15 years ago, according to Allstate.

    STATE FARM ASKS CALIFORNIA TO APPROVE RATE HIKES AFTER WILDFIRES

    Allstate Property Liability President Mario Rizzo said during the company’s earnings call that it had “responded quickly and empathetically to help customers and communities after the tragic wildfires in Southern California.”

    Multiple wildfires devastated parts of the Los Angeles area last month, killing over two dozen people. One of the blazes, the Palisades Fire, scorched through 23,700 acres and razed over 6,800 structures. 

    Palisades Fire damage in Pacific Palisades

    View of damaged structures and homes caused by the wildfires in the Pacific Palisades neighborhood of Los Angeles on January 11, 2025, in Los Angeles, California.  (Axelle/Bauer-Griffin/GC Images / Getty Images)

    Southern California wildfires Pacific Palisades

    A view of fire-ravaged beach property overlooking the Pacific Ocean, which burned as a result of the Palisades Fire on January 12, 2025, in Malibu, California. (Frederic J. Brown/AFP via Getty Images / Getty Images)

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    “We deployed mobile claim centers and over 900 team members to assist customers. Helping our customers recover from the fires is our principal priority,” Rizzo said. “The financial impact of the wildfires reflects the comprehensive risk and return approach we’ve taken to managing the homeowners insurance business.” 

    The estimated $1.1 billion loss will appear in the company’s first-quarter earnings.

    Ticker Security Last Change Change %
    ALL THE ALLSTATE CORP. 191.88 -1.13 -0.59%

    Rizzo said that Allstate would “continue to monitor the development of this event and give an update later in February. 

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    The company generated $64.1 billion in 2024, including $16.6 billion in the fourth quarter. Its adjusted annual net income came in at $4.9 billion. 

    As of Friday, shares of Allstate were roughly flat from the start of 2025. Over the past 12 months, they have posted an over 20% increase.   

     

  • Ford is expecting mounting EV losses this year

    Ford is expecting mounting EV losses this year

    Ford Motor Co. announced its fourth-quarter earnings this week, and while they came in above expectations, the Detroit automaker signaled the losses in its electric vehicle (EV) division are projected to continue this year.

    Ford reported that its EV division, known as Model e, lost $5.1 billion in 2024. In its full-year outlook for 2025, Ford said that it expects adjusted earnings before interest and taxes (EBIT) of $7 billion to $8.5 billion, with free cash flows between $3.5 billion and $4.5 billion and capital expenditures between $8 billion and $9 billion.

    When Ford broke down its various segments, it noted an EBIT loss of $5 billion to $5.5 billion for Model e. That is offset by positive EBIT of $7 billion to $8 billion from Ford Pro and $3.5 billion to $4 billion from Ford Blue, as well as earnings before taxes of $2 billion from Ford Credit.

    “We expect a loss of $5 billion to $5.5 billion for Ford Model e, holding losses stable year over year,” said Sherry House, Ford’s incoming chief financial officer who is currently a vice president of finance at the company. “While industry pricing pressure remains, we plan to materially increase our global volume, driven by the full-year impact of European launches, and we significantly increased investment in our battery facilities and next-generation products, which are just two years away.”

    FORD MUSTANG MACH-E SALES SURPASS TRADITIONAL MUSTANG

    Ford’s EV division, known as Model e, is projected to lose about $5 billion in 2025. (Alex Kraus/Bloomberg via Getty Images / Getty Images)

    In response to a question from a financial analyst, House noted that while Ford Model e’s volumes are up, there are about $1 billion in additional costs related to its BOSK battery factory and engineering for its generation 2 EV products.

    Ticker Security Last Change Change %
    F FORD MOTOR CO. 9.29 +0.03 +0.32%

    House went on to discuss some of the factors putting pressure on the division, as well as some positive developments at the end of last year.

    “Some of the downward pressure that you continue to see, that’s on the pricing potentially in Europe, potentially in North America,” she said. “What’s been great though is Model e as it ended Q4 last year, the [Mustang] Mach-E, we had fantastic selling – over 30% increase quarter over quarter, and we stayed above the average transaction prices. So, while we’re seeing the pressure, we have been continuing to do well even with our Gen-1 products in our sales pace.”

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    Ford Mustang Mach-E

    The All-Electric Ford Mustang Mach-E surpassed the traditional Mustang in sales last year. (Josh Lefkowitz/Getty Images / Getty Images)

    Ford’s announcement comes after automakers’ EV initiatives struggled in 2024 amid sluggish consumer demand compared to past expectations and increasing pricing pressures from rivals.

    General Motors does not report its electric division’s sales and financial figures separately like Ford does, but GM executives said that its EVs became “variable profit positive” last year by generating more in sales revenue than it spent on labor and material costs. However, that figure does not include fixed costs like building assembly lines.

    AUTOMAKERS THAT PUSHED BACK EV GOALS AND PLANS IN 2024

    Manufacturing workers in auto industry

    Workers assemble vehicle doors at the General Motors assembly plant in Fort Wayne, Indiana, on Tuesday, April 9, 2024. General Motors Co. is scheduled to release earnings figures on April 23. (Photographer: Emily Elconin/Bloomberg via Getty Images / Getty Images)

    GM fell short of its goal for producing and wholesaling 200,000 EVs in North America in 2024, ending up at 189,000 units, GM CFO Paul Jacobson said last week.

    Last year, Toyota announced that it would postpone its plans to build EVs in the U.S. until 2026 after it previously targeted late 2025, according to a Reuters report.

    Volvo in September dropped its plan to go all-electric by 2030, as the Swedish automaker now plans to still have hybrid vehicles in production at that time.

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    Luxury automaker Bentley announced in November it would push back its plan to transition to a lineup of only battery-electric vehicles from 2030 to 2035, adding that it will continue to manufacture plug-in hybrid vehicles until that time.

    Reuters contributed to this report.

  • Quiksilver, Billabong and Volcom US stores to close

    Quiksilver, Billabong and Volcom US stores to close

    Liberated Brands filed for Chapter 11 bankruptcy protection over the weekend and is looking to shutter its U.S. retail stores where it sold brands like Quiksilver, Billabong and Volcom. 

    The company said in a Monday press release that it filed for bankruptcy to “implement an orderly monetization and disposition of its businesses.” It submitted a motion to the U.S. Bankruptcy Court for the District of Delaware for the closure of about 124 stores as part of its bankruptcy proceedings.

    Liberated estimated a range of $100 million to $500 million for its assets in its Chapter 11 bankruptcy petition. Estimated liabilities were the same.

    A Billabong store in the SoHo neighborhood of New York City. (Michael Brochstein/SOPA Images/LightRocket via Getty Images / Getty Images)

    The company said its U.S. stores will stay open “as the company begins its efforts to effectuate the close of its U.S. retail locations” but will ultimately shutter once their liquidation sale process is completed. Liberated also has nine locations in Hawaii, whose statuses are “currently being negotiated,” according to the release. 

    MAJOR CRAFTS RETAILER FILES FOR BANKRUPTCY

    CEO Todd Hymel said in a court filing that “macroeconomic issues, including a rapid and dramatic rise in interest rates, persistent inflation, supply chain delays, a decline in customer demand well below the historical trendline, shifting consumer preferences, and substantial fixed costs” had weighed heavily on the company’s finances.

    Liberated held the licenses for Quiksilver, Billabong, Roxy, RVCA and some other Authentic Brands-owned brands since late 2023, adding to the one it already had for Volcom, Hymel said in a filing. The licenses for Liberated to operate Volcom, RVCA and Billabong in North America were terminated in December of last year “as a result of Liberated’s default under the associated licenses,” according to Liberated’s CEO.

    billabong

    Liberated held the licenses for Quiksilver, Billabong, Roxy, RVCA and some other Authentic Brands-owned brands since late 2023. (Dan Himbrechts/Bloomberg via Getty Images / Getty Images)

    Court filings indicated those licenses have been transferred to new operators, meaning consumers will still be able to get those clothing brands. 

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    “On the rare occasion that a partner is not able to fulfill its commitments, Authentic will transition the license,” David Brooks, executive vice president at Authentic Brands, said in a statement to FOX Business. “To that end, we’ve been working closely with Liberated Brands to thoughtfully transition key licenses to trusted operators within our network.” 

    THE CONTAINER STORE FILES FOR BANKRUPTCY, INSISTS IT’S HERE TO STAY

    Brooks said Liberated’s U.S. store fleet “was overinflated, burdened with outdated and underperforming locations” and would “likely be rationalized, allowing the brands to create more value and strengthen their presence across specialty retailers, department stores, and e-commerce–ensuring a more agile and resilient future.”

    Liberated said the liquidation sale process for its U.S. stores has already begun.

  • Egg surcharge hits diners’ wallets: Experts say consumers should fear menu price hikes more

    Egg surcharge hits diners’ wallets: Experts say consumers should fear menu price hikes more

    Consumers are being hit with temporary surcharges due to the ongoing egg shortage in the U.S. food system. But experts told FOX Business that these surcharges are the lesser of two evils when compared to overall menu price increases. 

    Michelle Korsmo, the CEO of the National Restaurant Association (NAR), said that these surcharges are a temporary measure and can be removed from menus when macroeconomic conditions improve. 

    “When a restaurant operator adds a surcharge to their menu in a situation like this, it’s generally because they are optimistic that it will be resolved quickly and because they want to be transparent with their customers about their rising costs,” Korsmo told FOX Business. 

    For instance, the Waffle House, a Southern breakfast food chain, added a temporary 50 cent-per-egg surcharge to all of its menus on Monday. 

    WAFFLE HOUSE, OTHER COMPANIES ADD EGG SURCHARGE AMID SHORTAGE

    The company blamed the ongoing egg shortage caused by highly pathogenic avian influenza (HPAI) – or bird flu – for the dramatic increase in egg prices, saying that “consumers and restaurants are being forced to make difficult decisions.”  

    While the company didn’t specify when the charge would be removed, it said that it will adjust or remove the surcharge when market conditions allow.

    A menu in a Waffle House restaurant displays a sticker advising customers of a 50 cent price hike per egg “due to the nationwide rise in the cost of eggs,” in Houston, Texas, on Feb. 6, 2025.  (Gianrigo Marletta/AFP via Getty Images / Getty Images)

    Changing the price on a menu will often add to an operator’s costs. It also doesn’t give them the opportunity to have the same transparency with customers about why the price is changing, Korsmo added.

    TRUMP’S PROPOSED TARIFFS COULD DRIVE UP FOOD PRICES, EXPERTS SAY

    “I think that most of the time, what we see with other types of inflation . . . it never really comes back down as low as it was in a pre-inflationary period, which is where we just get this kind of ongoing sense of a tougher economy,” Korsmo said.

    California restaurant

    Customers at a restaurant at the Ferry Building in San Francisco, California, US, on Friday, May 31, 2024. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

    Sylvain Charlebois, professor and senior director of the Agri-Food Analytics Lab, highlighted that surcharges can be adjusted or removed as costs fluctuate, whereas menu price changes are more permanent and noticeable.  

    “Customers tend to react more negatively to visible price hikes than to separate fees, even if the net cost remains the same,” said Charlebois. “While consumers may dislike extra fees, surcharges provide transparency by itemizing specific costs, such as supply chain disruptions, labor expenses or credit card processing fees,” 

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    Forrest Leighton, senior vice president of marketing at customer intelligence platform Chatmeter, told FOX Business that many restaurant customers are questioning the value of higher-priced menu items. 

    Chatmeter helps restaurants analyze customer feedback to inform decisions around menu items, prices, and operations. Its data shows that the number of pricing-related reviews calling restaurants “overpriced” rose more than 40% in 2024, while the number mentioning the word “cheap” dropped over 10%.  

    However, surcharges can provide customers with transparency around why the price is going up, which helps make it more palatable, Leighton said, adding that loyal customers are less likely to walk away from a price increase they deem to be temporary and beyond the brand’s control, which surcharges often are.  

    Diners on the outdoor patio of a restaurant in Atlanta, Georgia, on Monday, Sept. 16, 2024.  (Photographer: Elijah Nouvelage/Bloomberg via Getty Images / Getty Images)

    Max Chodorow, one of the owners of Jean’s in New York City, told FOX Business that he wished he could add a surcharge, but legally, he can’t in the city. 

    “Our costs are constantly growing, and there’s only so much we can raise prices with consumer psychology,” Chodorow said. 

    Chodorow said that a surcharge is easier to implement because people primarily react to sticker shock of the menu price. The only surcharge that restaurants are allowed to apply in New York state is an auto gratuity on parties over a certain size or special events, and it needs to be disclosed to the customer along certain guidelines, according to Chodorow. 

    They are not allowed to do anything with the fee “beyond pass it directly to tipped employees,” Chodorow said.