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President Donald Trump and Japan Prime Minister Sanae Takaichi on Tuesday signed a framework agreement for securing the supply of critical minerals and rare earths through mining and processing, the White House said.
The agreement came after Trump's meeting with Japan's first female leader, as part of his wider trip to Asia. Both Washington and Tokyo are looking to strengthen their supply chains for rare earth elements, which are used everywhere, from renewable energy to electronics and cars.
According to the White House, Japan and the U.S. plan to coordinate investment and policy efforts to develop more diversified and transparent markets for critical minerals and rare earth elements.
Within six months, Washington and Tokyo plan to identify and fund new mining and processing projects for key materials like magnets and batteries. The agreement also creates a joint "Rapid Response Group" to spot and supply vulnerabilities and coordinate emergency deliveries of critical materials.
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Under the agreement, Japan and the U.S. will streamline and expedite permitting processes for critical minerals and rare earths.
The agreement also commits both countries to address foreign trade distortions and unfair market practices.
The White House said Washington and Tokyo would explore a joint stockpiling arrangement and work with other partners to strengthen supply chain security.
TRUMP CALLS XI'S RARE EARTH MOVE A 'BAD MOMENT' - WHY IT MATTERS FOR US NATIONAL SECURITY, CHINA TIES
Both governments said they'll coordinate with "like-minded partners," language seen as a nod to Australia and the European Union, as they try to build a market alternative to China's near-monopoly over rare earth processing.
China currently dominates the global rare earths market, processing more than 90% of these materials. Beijing recently ratcheted up export curbs, including new elements on its control list and tightened oversight of foreign producers that rely on China's materials.
During Tuesday's meeting with Trump, Japan's new prime minister called for a "new golden age" in the U.S.-Japan alliance and announced Japan will gift 250 cherry trees to Washington next year to mark America's 250th anniversary.
The U.S., meanwhile, has only one operational rare earth mine and is racing to secure vital minerals for electric vehicles, defense systems and advanced manufacturing.
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As part of his Asia trip, Trump is scheduled to meet with Chinese President Xi Jinping on Thursday.

via: https://www.foxbusiness.com/politics/trump-meets-japans-first-female-leader-signs-rare-earth-critical-minerals-suppl

Chegg Inc., a Santa Clara-based online learning platform, said Monday it will cut about 45% of its workforce - roughly 388 employees - as it confronts what it calls "the new realities of AI and reduced traffic from Google to content publishers."
In its official statement, the company said the restructuring plan reflects "a significant decline in Chegg's traffic and revenue," which it has attributed to shifts in generative AI and changing search patterns.
Chegg said the layoffs will reduce reduce 2026 non-GAAP expenses by about $100 million to $110 million and result in charges of $15 million to $19 million, mostly in cash severance. 
It expects to provide more information during its third-quarter earnings call on Nov. 10.
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Executive Chairman Dan Rosensweig will return as president and chief executive officer, effective immediately, as part of the overhaul. Nathan Schultz, who succeeded Rosensweig in 2024, will step down and serve as an executive advisor to Rosensweig and the board.
"As I return to the CEO role, I'm confident Chegg has a bright future, and I look forward to exploring all paths to drive growth and enhance shareholder value," Rosensweig said in the release.
The company confirmed it will remain an independent public company after months of reviewing options, including a sale or going private.
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"After thoughtful consideration of multiple proposals, the Board of Directors unanimously determined that remaining an independent public company offers the best opportunity to maximize long-term shareholder value," the company said.
The company said AI adoption and reduced Google search traffic have caused a significant drop in traffic and revenue. 
"The new realities of AI and reduced traffic from Google to content publishers have led to a significant decline in Chegg's traffic and revenue," the company stated.
To adapt, Chegg said it will streamline operations to lower costs and invest more in what it calls its fastest-growing area - the $40 billion-plus 'skilling market.'" 
Chegg said it plans to expand beyond traditional study help into a "skilling-focused business-to-business organization" offering programs in language learning, workplace readiness and AI-related skills. 
These new segments are projected to bring in about $70 million in 2025 revenue and achieve double-digit growth in 2026.
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Chegg reiterated its third-quarter guidance and cautioned investors about "risks and uncertainties" tied to the evolving AI landscape - including "the effects of AI technology on our business and the economy generally" and its ability to "stabilize the business by attracting new learners" amid traffic declines.

via: https://www.foxbusiness.com/technology/chegg-lay-off-45-workforce-ai-google-traffic-shifts-batter-busines

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Elon Musk's artificial intelligence company, xAI, launched its early version of Grokipedia Monday, which is said to be an AI-generated encyclopedia to compete with Wikipedia.
The billionaire Tesla founder, who has long criticized Wikipedia for what he calls "editorial bias," previously described Grokipedia as a more "truthful and independent alternative." 
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Powered by Grok, xAI's chatbot trained on real-time data, the platform aims to reshape how online knowledge is created and shared.
Grokipedia officially went live at grokipedia.com, though the debut was not without issues. The site launched in the afternoon but crashed within hours, before returning online later that evening. 
Early visitors reported seeing a minimalist homepage titled "Grokipedia v0.1" with a simple search bar.
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At launch, the platform also hosted 885,279 articles, though many early users said that large portions appeared to be adapted or copied directly from Wikipedia.
The release marks a step in Musk's effort to build AI systems that challenge mainstream narratives.
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Last week, Musk said on X that the launch had been delayed to allow xAI to "do more work to purge out the propaganda." In a September post on his social platform X, Musk stated:
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"We are building Grokipedia @xAI. Will be a massive improvement over Wikipedia. Frankly, it is a necessary step towards the xAI goal of understanding the Universe."
FOX Business has reached out to xAI for comment.

via: https://www.foxbusiness.com/fox-news-tech/musks-new-grokipedia-crashes-launch-day-hosts-nearly-900k-article

Amazon is planning to cut nearly 10% of its corporate workforce beginning Tuesday as part of an internal restructuring, Reuters reported, citing three sources.
The reported layoffs, affecting roughly 30,000 employees, would mark the largest reduction in Amazon's corporate workforce in the company's history, surpassing the roughly 27,000 positions eliminated in late 2022 and early 2023, according to layoff tracking site Layoffs.fyi.
Sources told Reuters that Amazon has been working to reduce expenses and correct overhiring that took place during the pandemic's surge in demand. 
The cuts may impact several divisions, including Human Resources, known as People Experience and Technology, Operations, Devices and Services and Amazon Web Services, the outlet reported.
META CUTS 600 JOBS AMID AI EXPANSION PUSH - AS AUTOMATION REPLACES HUMAN STAFF
Managers of affected teams were required to complete training on Monday to prepare for communicating with staff, following email notifications set to go out Tuesday morning, sources said, according to Reuters.
Amazon has previously explored several strategies to reduce its workforce, including enforcing a strict return-to-office policy, launching a program identifying inefficiencies and integrating artificial intelligence technologies, according to the outlet. 
TARGET CUTS 1,000 JOBS, ELIMINATES HUNDREDS OF OPEN ROLES
Earlier this year, Amazon CEO Andy Jassy launched an initiative to reduce the number of managers by creating an anonymous complaint line to identify inefficiencies, Reuters reported. The program generated roughly 1,500 responses and led to more than 450 process changes, Jassy said, according to the outlet.
A full-time return-to-office mandate also took effect this year. Amazon likely hoped that the strict policy would prompt some employees to resign voluntarily, reducing headcount without severance costs, sources told Reuters. However, the policy reportedly did not produce enough departures, contributing to the need for a larger round of layoffs.
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Jassy said in June that the growing use of artificial intelligence tools was expected to also drive job cuts.
"We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs," Jassy previously said about Generative AI. 
As of Monday, more than 200 tech companies had eliminated roughly 98,000 positions this year, according to Layoffs.fyi.
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While Intel has cut 27,000 employees, Microsoft laid off 15,000, Salesforce reduced its workforce by more than 9,000, Meta eliminated roughly 4,000 jobs and Google cut 200 positions this year, according to the site. 
Amazon did not immediately respond to a request for comment from FOX Business.
FOX Business' Pilar Arias and Reuters contributed to this report.

via: https://www.foxbusiness.com/economy/amazon-cut-nearly-30k-corporate-jobs-largest-layoff-company-history-repor

Small Business Administration Administrator Kelly Loeffler says Democrats are having a "disgraceful moment" as the government shutdown reaches what she calls liberals' intended effect of hurting small businesses.  
The federal government approached its fifth week of a shutdown after lawmakers failed to advance the continuing resolution a dozen times, according to a previous report. Disagreements over Obamacare remain at the forefront, as Senate Minority Leader Chuck Schumer, D-N.Y., and other Democrats push to extend expiring Affordable Care Act premium subsidies, while Republicans say the issue should be addressed after the government reopens.
"Prior to this shutdown, as of September, small business confidence hit a seven-year-high, not since President Trump's first term had small businesses felt so confident in the economy," Loeffler told "Kudlow" on Monday. "That's all thanks to President Trump's economic agenda, which, by the way, is a supply-side agenda. ... It's free and fair trade. It's low taxes. It's deregulation. It's access to capital. 
"Because of their confidence, in 2025, the fiscal year we just wrapped up 27 days ago, the SBA broke through a 72-year lending record, surpassing $45 billion to 85,000 small businesses across this country," she continued. "They were quite bullish heading into this shutdown, but look, this shutdown is having the intended effect by the Democrats. They want to hurt Main Street and that's what they're trying to do right now." 
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Loeffler, who told FOX Business the shutdown has "real economic consequences," criticized Democrats for trying to "inflict pain" on "Main Street."
"It's $15 billion a week," she explained. "It's shaving one to two tenths of a percent off GDP. It's 43,000 jobs lost in a month, potentially, according to the CEA. And where do those expenses that lost $15 billion come from, the 43,000 jobs? From Main Street, from small businesses, who 20% say that they rely on federal government workers as their customers or federal agencies or federal contracting." 
Loeffler says she has agreed with DOGE since day one and revealed the agency has taken down its headcount by about 52%.
"We have done more with less, just like a small business would do, and we're going to continue to look for efficiencies because just like any private sector company, you can see the headlines over the weekend, large companies having layoffs saying, 'Actually, we do better with fewer employees. We created too much complexity. We need to ensure that we're efficient,'" she said.
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Democrats want big government that "stifles small business" and "crowds out innovation," Loeffler argued.  
"It's important that we continue on with the DOGE efforts and being accountable to taxpayers," she explained. "That's what I'm going to do at the end of the year. I'm going to show taxpayers how accountable we were in this agency with their hard-earned tax dollars." 
Fox News' Alex Miller contributed to this report.  

via: https://www.foxbusiness.com/media/democrats-have-disgraceful-moment-government-shutdown-small-businesses-suffer-sba-administrato

Aclara Resources CEO Ramón Barúa Costa detailed a $277 million investment to build the first rare earth processing plant in America during an exclusive interview on "The Claman Countdown" Monday.
"We are going to be breaking ground in the second half of next year," he said on the future plant in Louisiana.
Rare earth elements are critical for making everyday electronics, defense systems and more. 
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The investment aims to help fight China's grip on the rare earths market, where the country controls around 70% of the world's rare earth mining and 90% of its processing. Meanwhile, the U.S. handles around only 12% of the rare earth elements.
As the Trump administration seeks to delay China's aggressive export controls, Barúa Costa addressed what the controls target.  
"When we see, for example, the restrictions that the Chinese imposed very recently, they didn't talk about a rare earth generically, but they were talking specifically about seven rare earths, which happen to be heavy rare earths," Barúa Costa told FOX Business anchor Liz Claman. "They're much more scarce and difficult to obtain."
However, the same type of clay deposits that the Chinese draw rare earths from also appear in Chile and Brazil, the CEO added. 
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"We're developing two of them. And they're going to be the feed that is going to come into Louisiana," Barúa Costa shared.
The materials expert also gave a bold prediction on just how much the Louisiana facility will help the U.S. diversify the rare earth supply chain outside China. 
"We expect to be able to supply 75% of the heavy rare earths that are going to be required by the EV industry together, of course, with other applications like drones and wind turbines," he said.
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When Claman asked Barúa Costa if his potential "key" role in helping the world decouple from China is intimidating, he clarified he aims to be an "alternative" to China rather than fully replace its rare earths supply. 
Barúa Costa also discussed what will set his supply apart from his competitor's.
"I think that the difference of our product is going to be the emphasis on sustainability, both from an environmental and social standpoint, we're going to have a product that probably is not necessarily going to compete in price with China," he said. 
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Although President Donald Trump is expected to meet with Chinese President Xi Jinping on Thursday as part of his tour of Asia, China has not yet confirmed the two will meet. 
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via: https://www.foxbusiness.com/media/ceo-explains-multi-million-investment-us-rare-earth-processing-plant-makes-bold-2028-predictio

LSU's firing of head football coach Brian Kelly brings about a big issue other than finding the right replacement for him. 
Kelly was only in his fourth season of a 10-year, $100 million contract he signed to coach the Tigers after leaving Notre Dame. And of that $100 million, 90% of it was guaranteed money. 
So, LSU and Kelly are reportedly in negotiations about how the university is going to buy him out of his contract, and it is expected to be one of the highest in college football history. But not the highest. 
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Let's look at some of college football's biggest buyouts: 
BRIAN KELLY'S BUYOUT AFTER LSU FIRING SET TO RIVAL JAMES FRANKLIN'S $49M PAYOUT FROM PENN STATE
Before Kelly found his way to the Fighting Irish, Weis was leading the way in South Bend, Indiana. The Fighting Irish were a good program, with Weis leading them to a 10-win season in 2006. 
However, things started to go south from there, and after a 6-6 campaign in 2009, Weis got the axe from the university. Kelly was their next hire and it was a good match as he was in place from 2010-21 before heading to LSU.
Napier and the rest of the "Gator Swamp" knew the hot seat began the second kickoff came around in 2025. There were some who felt Napier would be ousted from Gainesville when the 2024 campaign finished with another mediocre record, but Florida decided to give him a shot. 
But after losing four of their first six games, Napier was fired despite his final game being a win over Mississippi State, 23-21. 
It's a firing that hasn't led to stable play on the field for the Tigers, but Malzahn's time at Auburn was coming to a close either way in 2020. 
The Tigers finished that year 6-4, and Malzahn was fired by the program. But Bryan Harsin wasn't the right move, as he lasted only 21 games. Now, Auburn may be facing yet another buyout with Hugh Freeze's program at 4-4 this season with a 1-4 record in SEC play. 
Unlike Kelly and Napier, the seat wasn't even close to lukewarm for Franklin, who was one win short of reaching the College Football Playoff championship game last season. The Nittany Lions looked to be heading in the direction of a title contender yet again in 2025, especially after being named the preseason No. 2 overall team in the country.
Franklin's program got off to a good start this season, going 3-0 to set the tone. But a loss to Oregon at home started a tumble to .500, as they lost their next two contests, including a shocker against Northwestern.
That loss to the Wildcats was the final straw as fans were chanting for Franklin to be fired, and Penn State answered the call.
Franklin's buyout is third among the highest payouts by schools and universities at $49 million, and Kelly's should beat his. But neither of them have the highest payout despite the whopping sums. 
That title belongs to Fisher, who was ousted after the 2023 season saw a 6-4 record that came after a dud 5-7 campaign in 2022. Fisher was a national championship-winning head coach with the Florida State Seminoles, and the Aggies thought he was going to bring that pedigree to College Station. 
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Things looked promising in that regard after the Aggies went 9-1 in a shortened 2020 COVID season. But they went 8-4 the following year and never got back to that height. 
Some believed the Aggies were foolish for getting rid of Fisher when they did, but it is currently working out in their favor. Texas A&M is a true College Football Playoff contender, owning an undefeated 8-0 record under Mike Elko. 
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via: https://www.foxbusiness.com/sports/brian-kellys-lsu-firing-where-his-54m-buyout-rank-among-college-footballs-bigges

As food assistance benefits are set to expire this Saturday amid the ongoing government shutdown, DoorDash announced over the weekend the launch of an "emergency food response" to support those in need throughout November.
In a Sunday announcement, the food delivery company said it plans to deliver roughly 1 million free meals through its food bank partners, waive fees for 300,000 Supplemental Nutrition Assistance Program (SNAP) recipients ordering groceries from participating retailers and donate food from its own online convenience store, DashMart, to local food banks.  
"No one should go hungry in America - period," Max Rettig, vice president and global head of public policy at DoorDash, said in a statement. 
"Millions of families are worried right now about how they'll put food on the table. Fighting hunger is core to our mission at DoorDash, and we're stepping up alongside leading grocers and retailers to help bridge the gap. We know this is a stopgap, not a solution. But doing nothing simply isn't an option."
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According to the company, DoorDash will deliver food on behalf of more than 300 food bank and pantry partners nationwide - the equivalent of approximately 1 million meals - through its Project DASH program. Through the initiative, the company said it has been able to complete more than 8 million deliveries, the equivalent of about 135 million meals.
DoorDash said it is also partnering with major grocers - including Sprouts, Dollar General, Schnucks, Ahold Delhaize brands, Hy-Vee, Giant Eagle and Wegmans - to waive delivery and service fees for an estimated 300,000 orders placed by SNAP recipients. Customers would simply need to link a SNAP/EBT card to their profile when ordering.
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Additionally, DoorDash will contribute fresh food, shelf-stable items and household essentials from its DashMart locations to support local food banks in affected communities.
Eric Mitchell, president of Alliance to End Hunger, said in a statement that "the food security of millions of people who rely on SNAP is at dire risk," warning that the federal government shutdown could suspend SNAP benefits for more than 40 million Americans - citing 21 million children, 16 million working families, and 5 million seniors.
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"We know that the only viable solution is to ensure SNAP benefits are being delivered in full to those in need of food assistance as soon as possible," Mitchell said. "We are thankful for the part that companies and organizations across the country like DoorDash can do to try to fill the gap, and we will continue to work tirelessly to make sure SNAP is restored and protected quickly and fully."

via: https://www.foxbusiness.com/lifestyle/doordash-unveils-crisis-plan-millions-face-possible-loss-snap-benefit

President Donald Trump has called off trade negotiations with Canada - after Canada attempted to use former president Ronald Reagan's words about tariffs as a swipe against Trump's tariff policies, and after Canada has championed some protectionist policies of its own.
The government of the Canadian province of Ontario released a campaign ad Oct. 14 quoting a radio address Reagan delivered in April 1987 where he said, "Over the long run such trade barriers hurt every American worker and consumer."
Meanwhile, Canada has backed multiple protectionist policies for decades, and in recent years. These policies attempt to limit international trade to create less competition for domestic industries through the use of tariffs or import quotas. 
For example, Canada is known for its rigid supply management system that regulates dairy goods and dates back to the 1960s. The Canada-United States-Mexico Agreement signed in 2020 stipulates that a certain amount of dairy imports are subjected to low or no tariffs, but any imports above those restrictions face harsh tariffs - often more than 200%, according to the University of Wisconsin-Madison.
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More recently, Canada unveiled a 100% tariff on electric vehicles imported from China in October 2024 in an attempt to safeguard its own domestic industry. That same month, it slapped a 25% tariff on steel and aluminum imports from China.
Ontario Premier Doug Ford, a conservative, said Oct. 14 that the campaign ad sought to "take Ronald Reagan's words and let's blast it to the American people" on major U.S. networks.
"It's not a nasty ad," Ford said. "It's very factual. And coming from a person like Ronald Reagan, every Republican is going to identify that voice."
The ad, which will stop airing Monday, did not receive a warm welcome in the U.S. In response, Trump slammed Canada for releasing the ad, and nixed trade talks with Canada after meeting with Canada's Prime Minister Mark Carney Oct. 7. 
"CANADA CHEATED AND GOT CAUGHT!!! They fraudulently took a big buy ad saying that Ronald Reagan did not like Tariffs, when actually he LOVED TARIFFS FOR OUR COUNTRY, AND ITS NATIONAL SECURITY," Trump said in a Thursday social media post. 
Meanwhile, the Ronald Reagan Presidential Foundation, a nonprofit organization that seeks to continue his legacy, released a Thursday statement claiming that the ad campaign used "selective audio" that "misrepresents" Reagan's address.
SURGING TARIFF REVENUES SET THE STAGE FOR TRUMP'S SUPREME COURT SHOWDOWN 
The entire speech was delivered after Reagan had just imposed new tariffs on Japanese semiconductors, and he issued the statement to justify the decision, even though he had a reputation for promoting free trade policies. Reagan said that he ultimately imposed the tariffs because the Japanese were not upholding their end of trade negotiations with the U.S.
"We had clear evidence that Japanese companies were engaging in unfair trade practices that violated an agreement between Japan and the United States," Reagan said in the same speech. "We expect our trading partners to live up to their agreements."
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Reagan said that "such tariffs or trade barriers and restrictions of any kind are steps that I am loath to take.''
Overall, Reagan's legacy shows he was a "strong champion of free and open trade," according to Michael Strain, director of economic policy studies at the conservative-leaning American Enterprise Institute think tank in Washington.
"Over the course of his presidency - and outside of it - Reagan publicly emphasized the virtues of free trade," Strain said in a Monday email to Fox News Digital. "The president understood the economic benefits of free trade and the economic harms of protectionism. Beyond economics, Reagan understood that the freedom to engage in commerce - including with foreigners - is an inseparable component of the broader freedoms guaranteed to all Americans."
The Associated Press contributed to this report.

via: https://www.foxbusiness.com/politics/canadas-sudden-free-trade-conversion-reagan-ad-betrays-decades-protectionist-polic