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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Fox Business News

How the IRS will use $80B to go after tax cheats

Sat, Aug 20, 2022

The Internal Revenue Service has a plan for how it will use the $80 billion it received in the Inflation Reduction Act to go after wealthy tax cheats....

Cost of raising a child jumps to over $300,000

Fri, Aug 19, 2022

The cost of raising a child in the U.S. has climbed above $300,000, according to the Brookings Institution, and that's before they even head to college....

MSG Entertainment exploring potential spinoff of Madison Square Garden and Radio City Music Hall

Fri, Aug 19, 2022

Madison Square Garden Entertainment announced it is exploring a potential spinoff of certain assets....

Gas prices drop below $4 again, AAA says

Fri, Aug 19, 2022

Gas prices slid back below $4 per gallon last week as demand continues to fall, according to AAA....

US economy likely to face recession by year's end as growth continues to slow, report says

Fri, Aug 19, 2022

The Conference Board's leading economic index dropped for the fifth consecutive month, suggesting the U.S. economy is slowing and could be headed for a recession....

Biden's oil, gas moratorium dealt potentially fatal blow by federal court

Fri, Aug 19, 2022

A federal judge struck down the federal oil and gas leasing moratorium Thursday evening, potentially ending the policy President Biden has pursued since taking office....

Buffett's Berkshire Hathaway wins OK to buy 50% Occidental stake

Fri, Aug 19, 2022

Warren Buffett's Berkshire Hathaway received authorization from The Federal Energy Regulatory Commission (FERC) to buy a 50% stake in Occidental....

Huge rent hikes may finally be 'coming to an end,' economist says

Fri, Aug 19, 2022

New data shows large rent hikes may come to an end as landlords adjust to shrinking consumer budgets that have taken a big hit due to sky-high inflation....

Musk approaches brain chip startup Synchron about deal amid Neuralink delays — sources

Fri, Aug 19, 2022

Elon Musk has reached out to Synchron to discuss a deal with the New York City based artificial intelligence company that connects the human brain directly to machines....

AMC CEO optimistic on future as rival Cineworld shares sink

Fri, Aug 19, 2022

Cineworld, owner of Regal Cinemas, expects lower levels of admission through November 2022 due to a "limited film slate." It's reportedly planning to file for bankruptcy....