U.S. Economy

Melvin Capital Management, the hedge fund squeezed by its short-selling bets that GameStop shares would fall, lost 53% on its portfolio in January, a source familiar with the matter told FOX Business. Melvin Capital Management, the hedge fund squeezed by its short-selling bets that GameStop shares would fall, lost 53% on its portfolio in January.

Take a closer look at how the two proposals from President Biden and Senate Republicans compare.

Rep. Ilhan Omar called for a new tax on stock trades after a battle between an army of amateur investors and hedge funds caused a dramatic swing in the share price of GameStop and other heavily shorted companies.

A group of 10 Senate Republicans unveiled new details of their roughly $618 billion coronavirus relief proposal on Monday morning

The Internal Revenue Service is essentially done sending stimulus checks for now, but if you didn't receive your fully promised payment, don't worry — there's a quick fix.

Tenev has lived the American dream, but now faces a nightmare after a tough week for his company.

While the vast majority of the more than 100 million $600 coronavirus stimulus checks approved by Congress late last year were deposited directly into Americans’ bank accounts, several million others were sent through prepaid debit cards and in paper checks.

The White House on Friday remained tight-lipped about the wild price swings in GameStop shares and other heavily shorted companies.

Democratic leaders plan to start pushing forward on another massive coronavirus relief bill as soon as next week — whether or not Republicans are on board.

Sen. Elizabeth Warren lambasted the Securities and Exchange Commission for not cracking down on Wall Street as an astronomical surge in GameStop shares and other heavily shorted companies drove a week of frenzied trading. 

A group of more than 50 House progressives called on President Biden to include recurring stimulus checks instead of one-time payments in the next coronavirus relief package.

The U.S. economy continued to recover from the coronavirus shutdown in the final three months of the year.

The Internal Revenue Service is basically done sending stimulus checks, but if you didn't receive your fully promised payment, don't fret — there's a quick fix.

The Federal Reserve said during its first meeting of the year on Wednesday that it would leave interest rates near zero.

The Small Business Administration said Tuesday that it has approved more than 400,000 loans worth about $35 billion through the Paycheck Protection Program.

The rise in orders for durable goods, items expected to last at least three years, followed much stronger increases of 1.2% November and 1.8% in October, the Commerce Department reported Wednesday.

President Biden's push to raise the federal minimum wage to $15 an hour as part of a broader coronavirus relief package could be a "death knell" for businesses still reeling from the pandemic, according to a new study published this week.

For millions of Americans who did not receive their second coronavirus stimulus check, there's a quick fix: Claim the missing money when you file your 2020 tax return.

More than 8 million Americans fell into poverty over the past six months as social safety measures put into place at the start of the coronavirus pandemic expired, according to a new study published this week.

The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles.