OUR DAILY POST

Indiana Silver Alert declared for man missing from Bloomington

Posted by radio1n1 — Sat, 5 Apr 2025 02:00 GMT

8:50 PM EST INDIANAPOLIS (WISH) - An Indiana Silver Alert has been declared for a 64-year-old man missing from Bloomington, Indiana. The Monroe County Sheriff's Office is investigating the disappearance of Gary Edwards, a 64-year-old white male who is 5 feet 11 inches tall, weighs 170 pounds, has brown hair with hazel eyes, was last seen wearing a light blue jacket, t-shirt, and blue jeans, and driving a grey 2014 Buick Regal with Indiana registration number SDR414. Gary is missing from Bloomington, Indiana, which is 51 miles southwest of Indianapolis, and was last seen on Friday at 10:30 a.m. He is believed to be in extreme danger and may require medical assistance. If you have any information on Gary Edwards, contact the Monroe County Sheriff's Office at 812-349-2781 or 911.

IMPD subdues armed man waving Free Haiti flag on closed Monument Circle

Posted by radio1n1 — Fri, 4 Apr 2025 22:15 GMT

INDIANAPOLIS (WISH) - Police on Friday afternoon subdued an armed protestor on Monument Circle and took him into custody after closing down the area around the Soldiers' and Sailors' Monument. Indianapolis Metropolitan Police Department just before 3:55 p.m. Friday was sent to a report of a person armed with a weapon on Monument Circle. IMPD says the person had been reported as shooting a weapon into the air. Officers found the man in the road, armed with a handgun, and loudly yelling while waving a flag. At 4:05 p.m., IMPD sent a tweet alerting people to avoid Monument Circle. Traffic barriers were set up as officers helped people avoid the area. Video posted online showed an armed man with a Video posted online showed an armed man with a flag that appeared to read "Free Haiti." Police were surrounding the man. About 4:15 p.m. Friday, online video showed police fire bean bags at the man in front of a chocolate shop. An IMPD news release sent about 5:50 p.m. Friday said, "Officers continuously gave the armed male loud, verbal commands in an attempt to deescalate the situation. Utilizing at least one less-lethal launcher, officers were able to disarm the male and take him into custody without further issue. "A firearm and multiple shell casings were recovered on-scene and collected as evidence. The adult male suspect was arrested on the preliminary charges of criminal recklessness with a deadly weapon and pointing a loaded firearm. flag that appeared to read "Free Haiti." Police were surrounding the man.

Fritz Alphonse Jean vin nouvo prezidan Kons y Prezidansy l Tranzisyon an Ayiti

Posted by radio1n1 — Sat, 8 Mar 2025 00:55 GMT

Apre yon manda ki te make pa inefikasite ak vyolans gang k ap monte, Leslie Voltaire rem t pouvwa a bay konseye par y li a Fritz Alphonse Jean, ki pwom t yon apw ch sekirite pi di. PORT-AU-PRINCE - Fritz Alphonse Jean, reprezantan Ak Montana a, te prete s man ofisy lman k m prezidan Kons y Prezidansy l Tranzisyon an (CPT) vandredi 7 mas 2025, nan plas Leslie Voltaire nan pati politik Fanmi Lavalas la, ki gen senk mwa manda li te genyen lonbraj ak z pi mal kondisyon sekirite yo. Seremoni pasaj la nan Villa d'Accueil nan Musseau, P toprens, te patisipe nan manm k diplomatik la ak ofisy l gouv nman an. Voltaire, ki te nonmen nan mwa Okt b 2024, te f fas ak gwo vyolans gang ki te paralize ef administrasyon li a. Nan diskou orevwa li a, li te defann lid chip li, li mete aksan sou mezi kle yo te pran anba manda li a, tankou: Deplwaman F s Lame Ayisyen (FAD'H) nan Verti res, Depatman N . Ogmantasyon nan p son l lapolis ak ranf sman nan Misyon Sip pou Sekirite Miltinasyonal (MSS). Kreyasyon Kons y Sekirite Nasyonal la. F masyon yon Kons y Elektoral Pwovizwa apre yon reta de uit ane. Reouv ti p Saint-Louis-du-Sud ak agrandisman ayewop Jakmel ak Okay. "Pandan senk mwa ki sot pase yo, nimewo polis yo te ogmante, ak ranf sman milit yo sou wout," Voltaire te di.

Nearly two months after an explosion sent flaming debris raining down on the Turks and Caicos, Space

Posted by radio1n1 — Fri, 7 Mar 2025 04:45 GMT

Nearly two months after an explosion sent flaming debris raining down on the Turks and Caicos, SpaceX launched another mammoth Starship rocket on Thursday, but lost contact minutes into the test flight as the spacecraft came tumbling down and broke apart. This time, wreckage from the latest explosion was seen streaming from the skies over Florida. It was not immediately known whether the spacecraft's self-destruct system had kicked in to blow it up. The 403-foot rocket blasted off from Texas. SpaceX caught the first-stage booster back at the pad with giant mechanical arms, but engines on the spacecraft on top started shutting down as it streaked eastward for what was supposed to be a controlled entry over the Indian Ocean, half a world Starship reached nearly 90 miles in altitude before trouble struck and before four mock satellites could be deployed. It was not immediately clear where it came down, but images of flaming debris were captured from Florida, including near Cape Canaveral, and posted online. The space-skimming flight was supposed to last an hour. "Unfortunately this happened last time too, so we have some practice at this now," SpaceX flight commentator Dan Huot said from the launch site. READY MORE>>>> https://www.npr.org/2025/03/06/g-s1-52507/spacex-starship-test-flight-boca-chica-texas away. Contact was lost as the spacecraft went into an out-of-control spin.

Trump's speech pumps inflation fight from eggs to energy

Posted by radio1n1 — Tue, 4 Mar 2025 22:34 GMT

President Donald Trump during his primetime address to Congress on Tuesday night, outlined his plans to combat what he described as the "inflation nightmare" affecting American families, specifically highlighting rising costs of eggs and energy. "We suffered the worst inflation in 48 years, but perhaps even in the history of our country," Trump said. "As president, I'm fighting every day to reverse this damage and make America affordable again." AMERICANS TAKE TO RAISING THEIR OWN CHICKENS AMID NATIONWIDE EGG SHORTAGE Trump said the price of eggs has gotten "out of control" and that his administration is "working hard to get it back down." The price of a dozen eggs, now averaging around $5.00 or even higher in some regions. And according to the Department of Agriculture's Economic Research Service's (ERS) food outlook, retail prices will continue to climb, rising 41.1% in 2025 due to the compounding effects of consecutive outbreaks. He laid blame on the prior administration, claiming "their policies drove up energy prices, pushed up grocery costs and drove the necessities of life out of reach for millions and millions of Americans." The president asserted that one of his "highest priorities is to rescue our economy and get dramatic and immediate relief to working families." US CONSUMER SENTIMENT PLUNGES ON WORRIES OVER PRICES FROM INFLATION AND TARIFFS U.S. consumer confidence plunged sharply last month after inflation ticked higher in January, up 3% on an annual basis. However, egg prices, in particular, have been a major pain point for consumers as the industry grapples with ongoing bird flu outbreaks. Last month, U.S. Secretary of Agriculture Brooke Rollins' announced a "five-pronged strategy" aimed at curbing the growing number of bird flu outbreaks that began in 2022 and have since decimated flocks around the country, created a significant shortage in the U.S. egg supply, and drove prices higher. Egg prices surged 15.2% in January, according to the Labor Department's consumer price index. It was the largest increase in egg prices since June 2015 and accounted for nearly two-thirds of the total monthly rise in food prices, the department reported. On an annual basis, egg prices are up 53%. GET FOX BUSINESS ON THE GO BY CLICKING HERE Another focus of the administration is "rapidly reducing the cost of energy," Trump continued, adding that on his first day he declared a national energy emergency. Trump said his administration plans to re-open many of the 100 closed power plants and build a new pipeline. "My administration is also working on a gigantic natural gas pipeline in Alaska, among the largest in the world, where Japan, South Korea, and other nations want to be our partner-with trillions of dollars being spent by them. It will truly be spectacular," he added. via: https://www.foxbusiness.com/economy/trumps-speech-pumps-inflation-fight-from-eggs-energy

Trump introduces Elon Musk to GOP ovation before rattling off several DOGE victories: 'We appreciate

Posted by radio1n1 — Tue, 4 Mar 2025 22:31 GMT

Tesla CEO and DOGE Chief Elon Musk received a standing ovation from Republicans in the crowd when he was announced as a guest at President Trump's speech to Congress, before the president began rattling off examples of what he said is wasteful spending by the government. "The brand new Department of Government Efficiency, DOGE, perhaps you've heard of it," Trump said during his speech. "Which is headed by Elon Musk, who is in the gallery tonight? Thank you Elon." After applause from Republicans, Trump took a jab at Democrats saying, "He's working very hard. He didn't need this. He didn't need this. Thank you very much. We appreciate it. Everybody here, even this side, appreciates that I believe. They just don't want to admit it." Trump then began citing examples of government programs DOGE has cut. 'HE'S BACK': TRUMP'S JOINT ADDRESS TO CONGRESS TO BE BLANKETED WITH 6-FIGURE AD BUY TOUTING TAX PLAN "Just listen to some of the appalling waste," Trump said. "We have already identified $22 Billion. From HHS to provide free housing and cars for illegal aliens, $45 million for diversity, equity and inclusion scholarships in Burma. $40 million to improve the social and economic inclusion of sedentary migrants. Nobody knows what that is." Trump continued, "$8 million to Promote LGBTQI plus in the African nation of Lesotho, which nobody has ever heard of. $60 million for indigenous peoples and Afro-Colombian empowerment in Central America. $60 million. $8 million for making mice transgender. This is real. $32 million for a left wing propaganda operation in Moldova. $10 million for male circumcision in Mozambique. $20 million for the Arab Sesame Street in the Middle East." TRUMP SET TO CONTINUE UNPRECEDENTED LEVEL OF ACTIONS, ADDRESS CONGRESS IN 7TH WEEK BACK IN OFFICE After listing off more examples, Trump said, "And there are far worse. But I didn't think it was appropriate to talk about them. They're so bad. Many more have been found out and exposed and swiftly terminated by a group of very intelligent, mostly young people headed up by Elon, and we appreciate it." Democrats in the crowd could be heard shouting objections at multiple points while Trump was discussing DOGE. Democrats, who have largely been opposed to Trump's DOGE efforts and been protesting the effort across the country, could be seen remaining seated while Republicans cheered him, including Dem. Sen. Elizabeth Warren who was shown on camera looking at her phone during the cheers. via: https://www.foxbusiness.com/fox-news-politics/trump-introduces-elon-musk-gop-ovation-before-rattling-off-several-doge-victories

Lutnick says Trump tariff with Canada, Mexico likely ends with meeting in the middle, possible deal

Posted by radio1n1 — Tue, 4 Mar 2025 20:45 GMT

Commerce Secretary Howard Lutnick signaled a possible agreement between the Trump administration and leaders of Canada and Mexico that could see some of the tariffs imposed on both nations rolled back. Canada and Mexico, two of the United States' biggest trading partners, have imposed retaliatory tariffs following those imposed by President Donald Trump that went into effect Tuesday. Trump said the increases were in response to both countries not doing enough to curb the flow of illegal immigration and illicit drugs across their borders with the U.S. During a Tuesday appearance on FOX Business' "Kudlow," Lutnick told host Larry Kudlow that Trump will likely look to meet America's neighbors in the middle with a focus on the United States-Mexico-Canada Agreement (USMCA), which was created to create fairer trade between the nations. TRUMP RESPONDS TO TRUDEAU CALLING TARIFFS 'VERY DUMB' AS TRADE WAR RAMPS UP "He's really looking carefully at that trying to figure out if there is a way in there that he can come in the middle, where he can give the Canadians and Mexicans something, but they have to got do more," he told Kudlow. "They've got to end fentanyl death. You can't just say it's OK that people can die. That is just not a thing." "It's not gonna be a pause. None of that pause stuff. But I think he's going to figure out, you do more, and I'll meet you in the middle someway," he added. "We're going to probably be announcing that tomorrow. So somewhere in the middle will likely be the outcome - the president moving with the Canadians and Mexicans but not all the way," he added. The secretary said the administration has made its concerns about the border and illegal drugs known to Canadian and Mexican officials. MEXICO'S PRESIDENT ON TRUMP TARIFFS: 'NOBODY WINS', "If you respect us as your best trading partner, end it," he said. "And you have got to end fentanyl. And the way we're going to describe fentanyl is very simple - autopsied American guts. It's got to end." Effective Tuesday, U.S. imports from China, the third-largest U.S. trading partner, became subject to a new 10% tariff on top of the initial 10% tariff he imposed on Chinese goods last month. Tariffs on imported goods from Canada and Mexico rose with 25% tariffs levied on all imports from the two countries. The tariffs include a carve-out for a lower 10% tariff on Canadian oil imports. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Both the Mexicans and the Canadians were on the phone with me all day today trying to show that they'll do better, and the president is listening because you know he's very, very fair and very reasonable," Lutnick said. "So I think he's going to work something out with them." via: https://www.foxbusiness.com/politics/lutnick-says-trump-tariff-canada-mexico-likely-ends-meeting-middle-possible-deal-soon

Trump admin seeks to put 443 federal properties, including FBI and DOJ headquarters, up for sale

Posted by radio1n1 — Tue, 4 Mar 2025 19:01 GMT

The Trump administration on Tuesday identified 443 federal properties that will possibly be put up for sale, including the headquarters of the FBI and Labor and Justice departments, as the president continues to downsize the federal government. The General Services Administration posted the "non-core" properties, which are located in 47 states, as well as Washington, D.C., and Puerto Rico, totaling some 80 million square feet, Bloomberg reported. WASHINGTON DC GETS 'TRUMP BUMP' IN LUXURY HOME MARKET "We are identifying buildings and facilities that are not core to government operations, or non-core properties for disposal," the GSA states on its website. "Selling ensures that taxpayer dollars are no longer spent on vacant or underutilized federal spaces. Disposing of these assets helps eliminate costly maintenance and allows us to reinvest in high-quality work environments that support agency missions." The agency said a sale could potentially save more than $430 million in annual operating costs. Among the list of properties are the Washington headquarters for the departments of Energy, Agriculture, the American Red Cross building and the Office of Personnel Management. HOMEBUILDERS ARE CONCERNED ABOUT NEW TARIFFS AND EFFECT ON MATERIAL COSTS GSA even lists its own headquarters for sale. It also includes major office buildings in Chicago, Atlanta, Cleveland and Los Angeles. The move to sell the properties appears related to President Donald Trump's effort to downsize the scale of the federal government. Since 2015, the government has sold more than 1,000 properties, Bloomberg reported. In December, the Biden administration proposed selling eight federal buildings. GET FOX BUSINESS ON THE GO BY CLICKING HERE It's unclear how soon sales could happen, according to the news outlet. Federal law dictates that excess property be offered to other federal agencies, state and local governments, homeless shelters and other nonprofits before they can be privately sold. via: https://www.foxbusiness.com/politics/trump-admin-seeks-443-federal-properties-fbi-doj-headquarters-sale

LARRY KUDLOW: Trump's message to Congress - unleash prosperity

Posted by radio1n1 — Tue, 4 Mar 2025 17:59 GMT

Here's hoping President Donald Trump will deliver a rousing speech tonight showing how he intends to unleash prosperity in America. I'm hoping for a growthier speech, with plenty of tax cuts. The President is riding high in popularity, with nearly 80-percent favorable ratings on things like the border, deportations, eliminating waste, fraud, and corruption, disempowering the entrenched bureaucracy, rolling back onerous regulations, unlocking new energy production, and reciprocal fair trade. Put the whole package together, and you have a major booster shot to economic growth, while inflationary pressures and costs come down. Right now, the Biden legacy is showing up in weaker and weaker numbers. Housing is soft, business investment is down, manufacturing is slumping, even consumer spending coming in weak. The Bidens have not only left Mr. Trump with a slump in the economy, but $2 trillion deficits as far as the eye can see, and a massive expansion of federal debt. But every time the stock market hiccups, liberals try to blame tariffs. Well, the fact remains that Mr. Trump is trying to break through an unfair trading system that has penalized American companies, with his brand of reciprocal and fair trade reform. The idea that tariffs are inflationary is poorly thought out. Vast government spending and money-printing cause sustained inflation. Mr. Trump is working against that. In the short run, trade actions might cause one-time temporary, minor price increases, but not long-run inflation. President Trump is doing his best to reform the broken world trading system and defend American interests. Over time, by the way, reciprocal trade could bring tariffs down, not up. And his reciprocal trading policy could bring large-scale supply-side benefits to the American economy. I think most importantly for this evening's speech, though, I'd like to see President Trump forcefully ask Congress to pass his tax cuts and deregulation budget reconciliation bill, and make the tax cuts permanent - including Trump 2.0 cuts like tax-free tips and overtime and relief for seniors. Use the appropriate baseline scorecard, accurately reflecting that the 2017 Trump tax cuts produced huge revenues. And hopefully Mr. Trump will forcefully point out that people who vote against his tax cut plan will be voting in favor of an at least $4 trillion tax hike that will absolutely decimate whatever is left of the economy he inherited from Joe Biden. Let's pass one, big beautiful bill by Memorial Day, so we can have one, big, beautiful blue-collar boom that will fatten wallets and unleash prosperity for all Americans. via: https://www.foxbusiness.com/politics/larry-kudlow-trumps-message-congress-unleash-prosperity

Car prices could rise $12,000 due to Trump's latest tariffs

Posted by radio1n1 — Tue, 4 Mar 2025 15:48 GMT

President Donald Trump's new tariffs on Mexico and Canada could cause car prices to surge up to $12,000, a new analysis finds. The Anderson Economic Group analyzed the impact of Trump's 25% tariffs on products from Canada and Mexico and found that the tariffs, which are taxes on imports, would cause. For a crossover utility vehicle, manufacturing costs would rise by at least $4,000 due to the tariffs, while for a large SUV with a significant amount of content from Mexico it would rise by roughly $9,000 - with pickup trucks seeing a similar increase of $8,000. Electric vehicles (EVs) would see the biggest cost increases from the tariffs, as costs could rise upwards of $12,000, the analysis found. TRUMP RESPONDS TO TRUDEAU CALLING TARIFFS 'VERY DUMB' AS TRADE WAR RAMPS UP The Anderson Economic Group also considered the impact of potential additional steel and aluminum tariffs, which it found would add $250 to $800 for gas-powered vehicles made in North America and up to $2,500 for EVs, presuming an exclusion applies for country tariffs. Vehicles made in Europe and Asia would see an additional $800 to $1,700 in cost per vehicle without a tariff exclusion. Retaliatory tariffs that Canada and Mexico may impose against U.S. goods over Trump's 25% tariffs could drive those prices higher as levies are imposed or increased, spurring retaliation by the Trump administration. MEXICO'S PRESIDENT ON TRUMP TARIFFS: 'NOBODY WINS' Patrick Anderson, CEO of the Anderson Economic Group, told Bloomberg, "That kind of cost increase will lead directly - and I expect almost immediately - to a decline in sales of the models that have the biggest trade impacts." The North American auto industry is highly interconnected between facilities in the U.S., Canada and Mexico, as automakers have built supply chains to take advantage of efficiencies created by trade agreements between the three countries. TRUMP'S TARIFFS ON CHINA, CANADA AND MEXICO TAKE EFFECT Auto parts may be shipped from the U.S. to Canada, then to Mexico and back to the U.S. in the course of the manufacturing process. Depending on the part and the company, it could cross the U.S. even more frequently. Each time those auto parts cross the U.S. border, the 25% tariff can be assessed if there isn't an exception granted, which creates a compounding effect for tariff costs. That, in turn, drives the prices paid by consumers for the finished vehicle or part higher. GET FOX BUSINESS ON THE GO BY CLICKING HERE A report by the Cato Institute noted that for some auto parts like an engine or transmission, that part could cross America's borders with Canada and Mexico upwards of seven or eight times before they end up in a finished vehicle. via: https://www.foxbusiness.com/economy/car-prices-could-rise-12000-due-trumps-latest-tariffs

Kraft Heinz enters the alcohol market for the first time

Posted by radio1n1 — Tue, 4 Mar 2025 14:59 GMT

Kraft Heinz is entering the alcohol market with its brand, Crystal Light. The company announced on Tuesday it will be introducing Crystal Lireaght Vodka Refreshers at certain Northeastern retailers this month. The upcoming refreshers will feature a "delicious blend of Crystal Light's signature flavors, triple-filtered vodka, and light carbonation," Kraft Heinz said. The company touted them as the "lowest-calorie ready-to-drink cocktail on the market." GET FOX BUSINESS ON THE GO BY CLICKING HERE According to Kraft Heinz, the calorie count for a Crystal Light Vodka Refresher will clock in at 77 calories with zero sugar. Their ABV will be 3.8%. The company will offer Wild Strawberry and Lemonade flavors during the initial launch. They will come in $9.99 four-packs, the company said. With the Crystal Light Vodka Refreshers, Kraft Heinz indicated it is looking to build on customer use of Crystal Light as a mixer and capitalize on increasing demand for "lighter, lower-calorie cocktails." "Nearly one-in-five" Crystal Light customers make cocktails using the brand's drink mixes, according to Kraft Heinz. The company also said almost 40% of people that drink hard seltzers have a preference for beverages with an ABV below 4%. COCKTAILS READY-TO-DRINK? JAMESON WHISKEY PARENT CEO SAYS THEY ARE HERE TO STAY "With tens of millions of social media videos showcasing creative ways to mix Crystal Light into cocktails, creating a delicious lower-calorie vodka refresher was a natural step for us. We're bringing fans a ready-to-drink version in a new format - now with a light, refreshing twist - offering the same signature flavors they know and love," Kraft Heinz Director of Beverage Mixes Jeremy Kross said. The company is looking to bring additional Crystal Light Vodka Refresher flavors and multipack options as part of an expansion in 2026. In the U.S., the market for ready-to-drink cocktails hit a value of $903.4 million last year, according to Grand View Research. Some of Kraft Heinz's past forays into alcohol have included the Velveeta Veltini and the Claussen Spritz. CLICK HERE TO READ MORE ON FOX BUSINESS In addition to Crystal Light, well-known brands like Oscar Mayer, Jell-O, Grey Poupon, Lunchables, Classico and Philadelphia fall under the company's umbrella. Kraft Heinz saw $25.8 billion in net sales over the course of 2024, a 3% drop compared to the prior year. Its annual net income, meanwhile, narrowed from $2.85 billion to $2.7 billion. via: https://www.foxbusiness.com/lifestyle/kraft-heinz-enters-alcohol-market-first-time

Hyundai stands by DEI, says it 'drives sales'

Posted by radio1n1 — Tue, 4 Mar 2025 14:40 GMT

Hyundai is standing by its DEI policies and launching a new multicultural marketing campaign - and an executive says that it's good for business. "In terms of the creative that we're doing and the work that we're doing with Culture Brands, it's born from a recognition that it drives sales, drives the bottom line for the company," Hyundai Director of Experiential and Multicultural Marketing told Digiday. Culture Brands is Hyundai's African American Marketing Agency of Record and produced the "Play for the Car" ad campaign. The commercial features a Black couple "finding moments of connection and joy amid the chaos of daily life" through the driving of a 2025 Hyundai Sonata Hybrid, according to Campaign Director Nate Edwards. The ads will be aimed at Black consumers on channels such as TV One and Bounce. DOGE INITIAL FINDINGS ON DEFENSE DEPARTMENT DEI SPENDING COULD SAVE $80M, AGENCY SAYS The Korean automaker's annual revenue increased by 7.7% to some $120 billion U.S. dollars, according to its 2024 Q4 earnings results. As Hyundai continues to embrace DEI, company after company appears to be turning away from the controversial policies. General Motors removed all references to DEI in its latest SEC 10-K filing. Meta announced they are ending their DEI policies, with Harley Davidson, Target, John Deere, Pepsi and others following suit. Google has officially initiated the process of phasing out their DEI employee training programs. GOOGLE HAS OFFICIALLY BEGUN UNWINDING DEI PROGRAMS: SOURCE Other companies, such as Costco, are sticking with DEI. Costco's shareholders shot down a proposal to analyze the risks of its DEI policies in January. Apple shut down a shareholder proposal calling for the iPhone maker to end DEI, with a majority of shareholders voting against the proposal. The shift away from DEI in corporate America comes on the heels of a series of executive orders by President Trump calling for the elimination of DEI in the federal government and federal contractors. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/media/hyundai-stands-dei-says-drives-sales

Lindt to cut out US as Canada's chocolate supplier to avoid Trudeau's retaliatory tariffs

Posted by radio1n1 — Tue, 4 Mar 2025 13:29 GMT

Swiss chocolate maker Lindt & Sprungli may soon cut out the United States as a chocolate supplier to Canada amid a tariff war between the North American countries. Canada, which sources 50% of its Lindt chocolate from the U.S. and the rest from Europe, may soon receive the products entirely from Europe as a measure for the company to sidestep the trade conflict. Canadian Prime Minister Justin Trudeau announced 25% tariffs on American goods in retaliation to Trump authorizing 25% tariffs on imports from Canada and Mexico, which takes effect on Tuesday. "We are monitoring the situation very closely and have identified different ways to mitigate the effect of tariffs," a Lindt & Sprungli spokesperson said to Fox News Digital. "These include the possibility of supplying countries like Canada and Mexico from our European production facilities." TRUDEAU SAYS CANADA WILL ISSUE 25% TARIFFS ON $155 BILLION OF AMERICAN GOODS CEO Adalbert Lechner also told Reuters that Canada, one of its top 10 markets, is able to source 100% from Europe. "The volumes that we source currently for Canada can all be shifted to Europe," Lechner said. COCOA PRICES CONTINUE TO SPIKE: WHAT'S DRIVING COSTS HIGHER? The shift in Canada's supply chain may begin by mid-2025, and stores in Canada have already stockpiled Lindt products from the U.S. to provide a grace period for the change, Reuters reported.. While it is more expensive to transport chocolate from Europe to Canada, tariffs would have imposed higher costs on the chocolate maker, Chief Financial Officer Martin Hug told the outlet. European-made products may also receive less negative consumer sentiment than those made in the U.S., according to Reuters, citing Hug. CLICK HERE TO READ MORE ON FOX BUSINESS While Lindt is taking steps to avoid the tariff war in America, its chocolate prices are still expected to rise in 2025 due to record-high cocoa costs, Hug said in a separate Reuters report. Despite cocoa prices tripling over the past two years and Lindt reportedly hiking its prices to 6.3% in 2024, annual sales still grew by 7.8% last year, suggesting that shoppers are not easily deterred from splurging on their chocolates. Fox News' Daniella Genovese and Reuters contributed to this report. via: https://www.foxbusiness.com/retail/lindt-cut-us-canadas-chocolate-supplier-avoid-trudeaus-retaliatory-tariffs

BlackRock inks $23B deal for Panama Canal ports

Posted by radio1n1 — Tue, 4 Mar 2025 13:07 GMT

BlackRock on Tuesday announced the purchase of the ports at the Panama Canal that President Donald Trump raised security concerns regarding their connections to China. BlackRock announced the $22.8 billion deal with CK Hutchison's subsidiary Hutchison Port Holdings, which will see the firm acquire the Panama ports of Cristobal and Balboa, which are located at the Atlantic and Pacific ends of the canal, respectively. It will also acquire Hutchison's controlling interest in 43 ports in 23 other countries. The world's largest asset manager will partner with Terminal Investment Limited (TiL) to operate the ports in concert with the BlackRock subsidiary Global Infrastructure Partners (GIP). "This agreement is a powerful illustration of BlackRock and GIP's combined platform and our ability to deliver differentiated investments for clients," BlackRock chairman and CEO Larry Fink said. "These world-class ports facilitate global growth. Through our deep connectivity to organizations like Hutchison and MSC/TIL and governments around the world, we are increasingly the first call for partners seeking patient, long-term capital. We are thrilled our clients can participate in this investment." TRUMP FLOATS IDEA OF US RECLAIMING PANAMA CANAL Before his return to the White House, Trump claimed in a social media post on Christmas Day that Panama's government allowed "wonderful soldiers of China" to "lovingly, but illegally" operate the Panama Canal - a statement that the Panamanian and Chinese governments denied. Chinese companies have increased their investment in Panama in recent years, including at facilities related to the canal, such as a terminal for cruise ships and a bridge that's planned to be built over the canal. The presence of those firms has sparked geopolitical concerns given the government of China's ability to control Chinese companies to advance strategic goals. CK Hutchison has operated the ports at Balboa and Cristobal since 1997. The company is headquartered in Hong Kong, which the Chinese Communist Party controls. RED SEA, PANAMA CANAL ISSUES ARE WORSE THAN PEOPLE REALIZE, EXPERT SAYS CK Hutchison co-managing director Frank Sixt said the transaction was the "result of a rapid, discrete but competitive process in which numerous bids and expressions of interest were received" and added that the deal should deliver cash proceeds in excess of $19 billion to the group. "I would like to stress that the transaction is purely commercial in nature and wholly unrelated to recent political news reports concerning the Panama Ports," Sixt added. The deal, which is still subject to regulatory approval, will also see BlackRock's consortium acquire a total of 43 ports, comprising 199 berths in 23 countries, from Hutchison Port Holdings (HPH). The transaction includes HPH's management resources, terminal operating systems and other assets related to the control and operations of the ports. GET FOX BUSINESS ON THE GO BY CLICKING HERE The press release doesn't list which ports are involved in the port deal or the countries in which they're located, through it does specify that it doesn't include the HPH trust, which operates ports in Hong Kong, Shenzhen and South China, or any other ports in China. via: https://www.foxbusiness.com/economy/blackrock-purchase-panama-canal-ports

Trump responds to Trudeau calling tariffs 'very dumb' as trade war ramps up

Posted by radio1n1 — Tue, 4 Mar 2025 11:48 GMT

President Donald Trump is pushing back against Canadian Prime Minister Justin Trudeau, calling his tariffs "very dumb," saying that "when he puts a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!" Trump made the remark on his Truth Social account after Trudeau slammed the Trump administration's new 25% tariffs Tuesday. Trudeau previously announced 25% retaliatory tariffs on American goods in response to Trump's tariffs that went into effect today on Canadian imports. "So today the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same time, they are talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense," Trudeau told reporters. "Canadians are reasonable, and we are polite, but we will not back down from a fight, not when our country and the well-being of everyone in it is at stake," he continued. TRUDEAU SAYS CANADA WILL ISSUE 25% TARIFFS ON $155 BILLION OF AMERICAN GOODS "I want to speak directly to one specific American. Donald, in the over eight years you and I have worked together, we've done big things," Trudeau also said. "And now we should be working together to ensure even greater prosperity for North Americans in a very uncertain and challenging world. Now, it's not in my habit to agree with the Wall Street Journal. But Donald, they point out that even though you're a very smart guy, this is a very dumb thing to do. We - two friends fighting - is exactly what our opponents around the world want to see." Trump signed an executive order authorizing an additional 25% tariff on imports from Canada and Mexico, and an additional 10% tariff on Chinese imports. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at an additional 10%. The retaliatory tariffs Canada is imposing on $155 billion of U.S. goods went into effect this morning. Canada said it will start with tariffs on $30 billion worth of American goods, followed by tariffs on $125 billion of American products in 21 days. "Our tariffs will remain in place until the U.S. tariffs are withdrawn and not a moment sooner," Trudeau said. MEXICO'S PRESIDENT ON TRUMP TARIFFS: 'NOBODY WINS' The Canadian prime minister accused the Trump administration of choosing to sabotage their own agenda that was supposed to usher in a new 'golden age' for the United States." "The legal pretext your government is using to bring in these tariffs is that Canada apparently is unwilling to help in the fight against illegal fentanyl. Well, that is totally false," Trudeau also said. Trudeau told reporters that he expects to speak with Trump "in the days to come" about the tariffs. CLICK HERE TO READ MORE ON FOX BUSINESS "What he wants is to see a total collapse of the Canadian economy. Because that'll make it easier to annex us.... Now, first of all, that's never going to happen. We will never be the 51st state. But yeah, he can do damage to the Canadian economy. And he's started this morning," Trudeau concluded. "But he is rapidly going to find out as American families are going to find out that it's going to hurt people on both sides of the border." FOX Business' Landon Mion contributed to this report. via: https://www.foxbusiness.com/economy/trudeau-tells-trump-we-not-back-down-from-trade-war-calling-tariffs-very-dumb

Apple unveils new iPad Air models: Everything you need to know

Posted by radio1n1 — Tue, 4 Mar 2025 11:09 GMT

Apple on Tuesday announced the latest iPad Air models. The reveal of the new tablets came just a day after CEO Tim Cook alluded to an imminent product unveiling coming "this week" on social media. Apple touted the new iPad Air as "faster, more powerful" tablets and "built for" the tech giant's Apple Intelligence. There will be two size options - 11 inches and 13 inches - for the new iPad Air model. APPLE UNVEILS HISTORIC $500B INVESTMENT IN US MANUFACTURING, INNOVATION: 'BULLISH ON THE FUTURE' Both will debut on March 12; however, Apple is taking pre-orders for the new tablets beginning Tuesday, the company said. The starting prices will be $599 and $799, respectively. The new iPad Air tablets - which are lighter and thinner than the traditional iPad - feature Apple's M3 chip, something that Apple said makes them "nearly 2x faster compared to the iPad Air with M1, and up to 3.5x faster than the iPad Air with A14 Bionic." The chip has enabled Apple to introduce its "advanced graphics architecture to iPad Air for the first time with support for dynamic caching, along with hardware-accelerated mesh shading and ray tracing," it said. Owners of the new iPad Air will also be able to make use of a slew of Apple Intelligence capabilities. Among them are the "Clean Up" feature that "makes it easy to remove distracting elements in images" and the "Image Wand" that facilitates "more visually engaging" notes "by turning rough sketches into delightful images," according to Apple. APPLE IPO ANNIVERSARY: HOW MUCH WOULD A $1,000 INVESTMENT BE WORTH TODAY? The company said users will have access to ChatGPT in "Writing Tools" and "Siri," in addition to other Apple Intelligence features. "For everyone from college students taking notes with Apple Pencil Pro, to travelers and content creators who need powerful productivity on the go, iPad Air with M3, Apple Intelligence, and the new Magic Keyboard take versatility and value to the next level," Bob Borchers, Apple's vice president of worldwide product marketing, said in a statement. The company saw nearly $8.09 billion in net sales from its iPad category in the first quarter of fiscal 2025, marking a more than 15% jump year over year compared with fiscal 2024's first quarter. Those iPad sales represented roughly 6.5% of its total $124.3 billion in revenue in the three-month period. APPLE REPORTEDLY HAS FOLDABLE AND THINNER IPHONE MODELS IN THE PIPELINE Apple's lineup of iPads consists of the traditional iPad, the iPad Pro and the iPad Mini in addition to the iPad Air. Apple last released new iterations of the iPad Air in May of last year. It has been selling the tablet since 2013. via: https://www.foxbusiness.com/technology/apple-unveils-new-ipad-air-models-everything-you-need-know

Target, Best Buy CEOs warn of price increases as tariffs take effect

Posted by radio1n1 — Tue, 4 Mar 2025 11:01 GMT

The chief executives of Target and Best Buy warned on Tuesday that the tariffs against key trading partners will put pressure on profits and could drive up prices for consumers. Target CEO Brian Cornell told CNBC that shoppers will "likely see price increases over the next couple of days" as a result of tariffs imposed on Mexico, given how reliant the company is on the country's produce. He said that the retailer might have to raise prices on its imported fruits and vegetables this week. The U.S. began imposing a 25% tariff on goods from Canada and Mexico on Tuesday, while also doubling its levy on Chinese imports as Trump looks to curtail drug trafficking and illegal immigration. The move has set off a trade war with the nations, which are firing back with their own levies on U.S. goods. TRUMP'S TARIFFS WOULD DRIVE UP CONSUMER PRICES: NATIONAL RETAIL FEDERATION During Target's fourth-quarter earnings report on Tuesday, Cornell warned that the company "expects to see meaningful year-over-year profit pressure in its first quarter relative to the remainder of the year," in part because of "tariff uncertainty." Best Buy CEO Corie Barry echoed similar concerns during the company's earnings call on Tuesday, saying that it is likely consumers will feel the brunt of this given how critical trade is for the industry. "China and Mexico remain the No. 1 and No. 2 sources for products we sell, respectively," Barry said. "While Best Buy only directly imports 2% to 3% of our overall assortment, we expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely." Earlier this year, the administration delayed these tariffs to allow Canada and Mexico time to negotiate trade deals aimed at addressing U.S. border security and halting the flow of drugs like fentanyl. TRUMP'S PROPOSED TARIFFS COULD DRIVE UP FOOD PRICES, EXPERTS SAY Although the nations continued to negotiate, Trump reaffirmed his decision to impose the levies last week, stating in a post on Truth Social that "drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels." "We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled," Trump wrote, adding that "China will likewise be charged an additional 10% Tariff on that date." He also teased other tariffs launching April 2, but did not offer details. GET FOX BUSINESS ON THE GO BY CLICKING HERE Aside from Target and Best Buy, a number of retailers have raised concerns over the past several months about the prospect of tariffs pumping up the costs of their products - which would be passed onto consumers - or even forcing them to cut back on inventory. For instance, Dollar Tree - which has high exposure to China - warned that if tariffs are implemented, the company might have to change product details or sizes and even stop carrying items altogether if they become too expensive. A Walmart spokesperson said in a statement to FOX Business that the company remains "concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation." Goldman Sachs also raised concerns that hiking the levies on products will drive up costs for everyday Americans. FOX Business' Anders Hagstrom contributed to this report. via: https://www.foxbusiness.com/retail/target-best-buy-ceos-warn-price-increases-tariffs-take-effect

America's first digital currency is a 'technology superpower' dollar with 'profound' impact, CEO sig

Posted by radio1n1 — Tue, 4 Mar 2025 10:03 GMT

With the first-ever White House crypto summit taking place later this week, investors are watching for any direction on what a cryptocurrency reserve entails. The chairman, CEO and co-founder of Circle - a financial technology company that manages stablecoin USD Coin (USDC) - is confident that the future of digital currency will be used as a "superpower" with "profound" impact. "This is a technology superpower dollar that expands the role of the United States around the world," Jeremy Allaire said on "Mornings with Maria," Tuesday. "We've digitized everything: digital media, digital communications, software information and all of those digitizations allowed information and communications to kind of move globally, freely," he continued. TRUMP MOVES 'CRYPTO STRATEGIC RESERVE' FORWARD, PROMISES TO ELEVATE INDUSTRY "We haven't had that with money. Digital currency gives us a way to do that with money, and the implications for the United States and for small businesses and households are profound." Circle's fully-backed digital dollar was built with global markets in mind and made redeemable 1:1 for U.S. dollars. After launching more than six years ago, its CEO claims there's been impressive growth and stability. "I like to call it America's first digital dollar," Allaire said. "Over the last 12 months, it's had 100% growth. The amount of transactions happening with it on the internet is in the trillions of dollars, including over $1 trillion a month." He explained how it's held in the U.S. financial system, supported by Treasury bills, repo and cash, as well as firms like BlackRock and the Bank of New York Mellon. "That gives us its price stability. But it has all of the technology utility that the internet brings, which is the ability to move money instantly, inexpensively. And that has benefits for small business, for households and obviously for the financial world more broadly," Allaire explained. President Donald Trump will host a crypto event on Friday that will include "prominent founders, CEOs, and investors from the crypto industry, as well as members of the president's Working Group on Digital Assets," according to the White House. GET FOX BUSINESS ON THE GO BY CLICKING HERE The crypto summit will take place after Trump signed an executive order in January to establish a crypto-working group, which consists of officials from various federal agencies to advise the White House on policy surrounding digital assets. "This allows the U.S. to project and export digital dollars all around the world. We're in a competitive race with China," Circle's CEO said. "We're trying to find what economic system is going to win, what currency system is going to win." READ MORE FROM FOX BUSINESS FOX Business' Landon Mion contributed to this report. via: https://www.foxbusiness.com/media/americas-first-digital-currency-technology-superpower-dollar-profound-impact-ceo-signals

Get your new smartphone now before tariffs impact the price

Posted by radio1n1 — Tue, 4 Mar 2025 08:00 GMT

Several of President Donald Trump's tariffs came into force Tuesday, including the latest levy on imports from China. Imports from China, a major producer of smartphones, their parts and other technology, were hit with another 10% tariff. That built upon a 10% levy the president already imposed on the country in early February. In addition to the new tariff on imports from China, the administration also implemented tariffs on imports from both Canada and Mexico, ending the month-long pause on those levies. The move has raised questions about how consumer prices for new smartphones could be affected in the short-term and the longer-term by the tariffs, particularly the levy put on imports from China. WARREN BUFFETT SAYS TARIFFS ARE AN ECONOMIC 'ACT OF WAR': 'TOOTH FAIRY DOESN'T PAY 'EM' Roughly 78% of the U.S.'s smartphone imports come from China, the Consumer Technology Association has said. RKS Design founder Ravi Sawhney told FOX Business consumers are "unlikely to see a noticeable price increase" for smartphones "in the immediate term" from the tariffs, explaining that "most smartphone manufacturers plan inventory and pricing strategies months in advance, so existing stock already in the market won't be affected." He added that companies "often absorb short-term cost increases rather than immediately passing them on to consumers to remain competitive." Crowell Global Advisors Global Life Sciences Chair Joseph Damond offered a similar perspective on short-term smartphone prices, saying consumers may not immediately face a hike "because there will be a lag before increased tariff costs have a direct impact on production and sale of new phones, and because in the short run various parties along the production and distribution chain may be more willing to bear some reductions in their profit margins, until they see whether the tariffs will last." "If the sellers believed that the tariffs were only going to be temporary and are being used as a negotiating tactic, they may not raise their prices immediately," Scott Baier, chair of the John E. Walker Department of Economics at Clemson University, told FOX Business. "However, if the tariffs are believed to be permanent, firms may want to raise their prices. If consumer demand is not too sensitive to changes in the price, then much of the tariff will be passed onto the consumer." Meanwhile, economist Michael Szanto suggested the tariffs could lead to a "moderate effect on the price of smartphones in the near future." "Last set of Trump tariffs from his first term largely exempted Apple iPhones which are largely assembled in China, but Wall Street is concerned this time could be different," he said. GET FOX BUSINESS ON THE GO BY CLICKING HERE Smartphone prices "likely" could go up in the medium-term, according to Damond, but producers "may take steps to move production to countries not affected by tariffs in an attempt to mitigate cost increases" longer-term. "If these tariffs remain in place, we could see gradual price increases over the next several months," Sawhney also predicted for the longer-term. "Manufacturers will either absorb higher production costs, shift supply chains, or pass costs directly to consumers." He told FOX Business consumers could potentially see "flagship devices" become more expensive or "reduced promotions and trade-in incentives," as well as companies looking into "more aggressive nearshoring strategies" to boost production in countries like Vietnam or India. Baier also indicated companies could pursue relocating smartphone manufacturing sites from China as part of their longer-term response to the tariff on that country. "Even if some of the rare earth materials, semiconductors, batteries, and other component parts are produced in China as long as there is enough value-added through other components and assembly in other countries," he predicted. "When the goods are shipped from another country to the United States, it may not be subject to tariffs even though it has some components produced in China. The United States Customs and Border Protection assesses whether a good has been transformed enough to avoid the tariff." The tariffs could potentially lead to a trade war, according to Szanto. "The other thing to watch out for is the growing tensions with a potentially hostile Communist China is the growing military threat to Taiwan," he also said, noting many of the "most advanced" CPUs for smartphones come from there. Globally, there were 1.24 billion shipments of smartphones by manufacturers over the course of 2024, according to a report from the International Data Corporation. In the U.S., 91% of American adults were owners of smartphones in 2024, Pew Research Center found in a survey last year. TRUMP SAYS TARIFFS ON 'EXTERNAL' AGRICULTURAL PRODUCTS TO BEGIN APRIL 2 When Trump unveiled the tariffs against Canada and Mexico and the initial levy against China in February, the White House said it was seeking to push the three countries to take steps to curb drugs and illegal immigration from coming into the U.S. The president unveiled plans for the extra tariff against China late last month. via: https://www.foxbusiness.com/technology/get-your-new-smartphone-now-before-tariffs-impact-price

DOGE deadline for Department of Education employees to accept $25K buyout passes

Posted by radio1n1 — Tue, 4 Mar 2025 07:40 GMT

The deadline for U.S. Department of Education employees to accept an offer of up to $25,000 to resign or retire has passed as Linda McMahon was sworn in to lead the agency on Monday. The majority of Department of Education staff were offered the one-time buyout incentive as President Donald Trump and the Department of Government Efficiency (DOGE) look to gut the agency and return education responsibilities back to the states. Education Department employees were offered the one-time buyout and given an 11:59 p.m. deadline on Monday to accept or decline the deal, a spokesperson for the department told Fox News Digital on Monday. DEPARTMENT OF EDUCATION CANCELS ANOTHER $350M IN 'WOKE' SPENDING FOR CONTRACTS, GRANTS It is unclear how many employees accepted the offer ahead of the deadline. Fox News Digital on Tuesday reached out to the Education Department for figures but did not immediately receive a response. With about 4,200 employees, the agency's workforce is the smallest of the 15 Cabinet-level executive departments. The buyout offers come on the heels of President Donald Trump saying he wants to abolish the Department of Education, calling it a "con job" that has failed to properly educate American students. "They ranked the top countries in the world. We're ranked No. 40, but we're ranked No. 1 in one department: cost per pupil," Trump said earlier this month. DOGE SLASHES OVER $100M IN DEI FUNDING AT EDUCATION DEPARTMENT: 'WIN FOR EVERY STUDENT' The Trump administration has already announced drastic cuts to the department with the Elon Musk-led DOGE terminating 29 DEI training grants totaling $101 million earlier this month. DOGE then quickly announced the cancelation of another 89 contracts worth $881 million. The Department of Education earlier this month canceled 10 contracts with Regional Educational Laboratories (REL), totaling $336 million, after a review of the contracts uncovered "wasteful and ideologically driven spending not in the interest of students and taxpayers," a news release states. A review found instances where DEI initiatives were being funded, the Department of Education said. Linda McMahon, the former World Wrestling Entertainment (WWE) CEO, was officially sworn in to serve as the next Secretary of Education on Monday. She has vowed to follow through with the president's plans for the department. "President Trump believes that the bureaucracy in Washington should be abolished so that we can return education to the states, where it belongs," McMahon told members of the Senate Committee on Health, Education, Labor and Pensions on Feb. 13. "I wholeheartedly support and agree with this mission." GET FOX BUSINESS ON THE GO BY CLICKING HERE The Senate confirmed McMahon 51-45, along party lines, the final hurdle of her confirmation process. "I am prepared to lead the Department in this transformational time and embrace the challenge to improve the education system for the more than 100 million children and college students who deserve better," McMahon said in a statement after being confirmed. Fox News' Aubrie Spady, Stepheny Price and Louis Casiano contributed to this report. via: https://www.foxbusiness.com/politics/doge-deadline-department-education-employees-accept-25k-buyout-passes

Massachusetts commercial spaces on chopping block as Trump admin cancels leases for federal agencies

Posted by radio1n1 — Tue, 4 Mar 2025 04:53 GMT

The Trump administration's newly created Department of Government Efficiency (DOGE) is canceling federal leases across the country and the movement has now reached central Massachusetts properties. DOGE terminated seven commercial leases associated with the Food and Drug Administration, Department of Agriculture and U.S. Customs and Border Patrol. "We've been DOGE-ed," said Christopher Egan, president of Carruth Capital in Westborough, told the Worcester Business Journal. WHAT HAS DOGE CUT SO FAR? The canceled leases add up to an annual sum of $1.34 million and a total of 60,182 square feet, according to a WBJ report. This represents 37% of the federal government's leased space in Central Massachusetts, according to the General Services Administration (GSA). DOGE data, as of last month, shows about $100 million in lease reductions. Approximately $97 million of which were majority-office spaces, according to a Bloomberg analysis of GSA data. ELON MUSK'S DOGE MAKES ANOTHER HIRING PUSH These cuts come as President Donald Trump's administration vows to significantly slash the size of the federal government. These DOGE cuts are a continuation of scaling back the government's footprint, something GSA has been reportedly cutting down since 2023, when they knocked out 18 million square feet of leased space. However, the government's rent roll did not change much during the first Trump administration or under former President Joe Biden, a Bloomberg analysis shows. GET FOX BUSINESS ON THE GO BY CLICKING HERE According to CoStar, the number of canceled federal office leases nationwide has doubled since February, affecting all U.S. states except for Rhode Island and Indiana. DOGE's website claims to have achieved total estimated savings of $65 billion, which it says is a "combination of fraud detection/deletion, contract/lease cancellations, contract/lease renegotiation, asset sales, grant cancellations, workforce reductions, programmatic changes and regulatory savings." Its website listed contracts and lease cancellations which tallied to $12,751,900,462 as of Feb. 24, with the DOGE team's last listed update being Feb. 17. However, the website doesn't offer a detailed explanation of how it's accounting for the other $43 billion in overall savings it claims. via: https://www.foxbusiness.com/politics/massachusetts-commercial-spaces-chopping-block-trump-admin-cancels-leases-37-federal-agencies

Trudeau says Canada will issue 25% tariffs on $155B of American goods in retaliatory fashion

Posted by radio1n1 — Tue, 4 Mar 2025 00:33 GMT

Canadian Prime Minister Justin Trudeau announced 25% tariffs on American goods in response to President Donald Trump's tariffs that are going into effect on Canadian imports at midnight on Tuesday. The retaliatory tariffs Canada is imposing on $155 billion of U.S. goods take effect Tuesday at 12:01 a.m. Trump signed an executive order authorizing an additional 25% tariff on imports from Canada and Mexico, and an additional 10% tariff on Chinese imports. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at an additional 10%. China has since imposed tariffs on U.S. goods and Mexico has vowed retaliatory tariffs. TRUMP TARIFFS ON MEXICO, CANADA, CHINA ARE HOURS AWAY FROM HITTING AT MIDNIGHT The Trump administration agreed last month to a 30-day delay in imposing the 25% tariffs on Canadian and Mexican goods. Officials from both countries have carried out negotiations with the Trump administration in recent weeks, but there has been no agreement to reduce the tariffs. Trudeau said Monday "there is no justification for these actions," pointing to the White House's argument that the flow of drugs, including fentanyl, into the U.S. warranted the tariffs on Canada, Mexico and China, though the amount of fentanyl coming across the northern border is very low. "While less than 1% of the fentanyl intercepted at the U.S. border comes from Canada, we have worked relentlessly to address this scourge that affects Canadians and Americans alike," Trudeau said in a statement. "We implemented a $1.3 billion border plan with new choppers, boots on the ground, more co-ordination, and increased resources to stop the flow of fentanyl." WHAT'S HAPPENING WITH TRUMP'S TARIFFS ON CHINA, CANADA AND MEXICO? "We appointed a Fentanyl Czar, listed transnational criminal cartels as terrorist organizations, launched the Joint Operational Intelligence Cell, and are establishing a Canada-U.S. Joint Strike Force on organized crime," he continued. "Because of this work - in partnership with the United States - fentanyl seizures from Canada have dropped 97% between December 2024 and January 2025 to a near-zero low of 0.03 pounds seized by U.S. Customs and Border Protection." Trudeau said Canada "will not let this unjustified decision go unanswered" and announced that tariffs on American goods would go into effect at 12:01 a.m. if the Trump tariffs go into effect at midnight as promised. Canada said it will start with tariffs on $30 billion worth of American goods, followed by tariffs on $125 billion of American products in 21 days. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures," the prime minister said. "While we urge the U.S. administration to reconsider their tariffs, Canada remains firm in standing up for our economy, our jobs, our workers, and for a fair deal." Trudeau said Americans will pay more for groceries, gas and cars, and could lose thousands of jobs as a result of Trump's tariffs. "Tariffs will disrupt an incredibly successful trading relationship," he said. "They will violate the very trade agreement that was negotiated by President Trump in his last term." via: https://www.foxbusiness.com/economy/trudeau-says-canada-issue-25-tariffs-155b-american-goods-retaliatory-fashion

Trump's tariffs on China, Canada and Mexico take effect

Posted by radio1n1 — Tue, 4 Mar 2025 00:02 GMT

President Donald Trump's new tariffs on China, Canada and Mexico took effect at midnight Tuesday morning, increasing the taxes that U.S. importers will pay on certain goods when they enter the country. Effective Tuesday, U.S. imports from China, the third-largest U.S. trading partner, will be subject to a new 10% tariff on top of the initial 10% tariff he imposed on Chinese goods last month. Tariffs on imported goods from Canada and Mexico - America's two largest bilateral trading partners, according to Census Bureau data - are also set to rise, with 25% tariffs levied on all imports from the two countries. The tariffs include a carve-out for a lower 10% tariff on Canadian oil imports. President Trump was asked on Monday whether there was room left for any room left for Canada or Mexico to make a deal to avoid tariffs and he replied, "No room left for Mexico or for Canada. No, the tariffs, you know, they're all set. They go into effect tomorrow." WARREN BUFFETT SAYS TARIFFS ARE AN ECONOMIC 'ACT OF WAR': 'TOOTH FAIRY DOESN'T PAY 'EM' Shortly after taking office in January, Trump announced he would impose tariffs on the three countries and cited the flows of illegal fentanyl shipments across the Mexican and Canadian borders, as well as precursor chemicals for fentanyl shipped from China. He cited authority under the International Emergency Economic Powers Act (IEEPA). While the China tariffs were implemented on schedule, the president delayed the Canada and Mexico tariffs for a month after the two countries announced border security measures. "Just so you understand, vast amounts of fentanyl have poured into our country from Mexico and, as you know, also from China, where it goes to Mexico and goes to Canada. And China also had an additional 10%, so it's 10 plus 10. And it comes in from Canada, and it comes in from Mexico, and that's a very important thing to say," Trump said during Monday's press conference. WHO GETS STUCK WITH THE BILL FOR TARIFFS ON IMPORTED CANADIAN OIL? U.S. trading partners have already signaled they will retaliate through their own tariffs on American exports, as well as potential non-tariff trade barriers that would be aimed at U.S. firms. Canada announced that it will impose a 25% tariff on a wide variety of American exports, including machinery, auto parts, apparel products, alcohol and tobacco, sports equipment, plastic products, construction materials, lumber, agricultural products, appliances, furniture, chemicals and more. It also plans additional tariffs on other U.S.-made products that are expected to include cars, trucks, buses, electric vehicles (EVs), recreational vehicles, steel and aluminum products, fruits and vegetables, beef, pork, dairy products and more. CONSUMER CONFIDENCE SLUMPS IN FEBRUARY WITH BIGGEST MONTHLY DROP IN NEARLY 4 YEARS Mexico's government signaled in February that it is planning retaliatory tariffs it would implement if Trump imposed tariffs on Mexico, though it didn't specify those measures at the time. A report by Reuters citing sources familiar with the matter suggested the potential tariffs could range from 5% to 20% on U.S. pork, cheese, produce, and manufactured steel and aluminum. China retaliated against the initial tariffs by imposing 15% tariffs on U.S. energy exports, including coal, natural gas and petroleum; as well as 10% tariffs on manufactured goods, including trucks and agricultural machinery, a Brookings Institution analysis noted. The newly imposed tariffs are expected to elicit more retaliation from China, as the AP reported that the Chinese government is eyeing tariffs on U.S. agricultural exports and food products as targets. GET FOX BUSINESS ON THE GO BY CLICKING HERE An analysis by the Tax Foundation found that the tariffs imposed on imports from China would reduce long-run GDP by 0.1%, while the tariffs on Canadian and Mexican goods would deal a bigger blow to economic output, reducing GDP by 0.3%. Those figures are before accounting for retaliation by those countries against American products. The Tax Foundation's analysis noted that the U.S. imported $292 billion of non-energy products from Canada in 2024, as well as $120 billion in energy products. Imports from Mexico totaled $504 billion last year, while those from China totaled $430 billion plus additional imports shipped using the "de minimis" loophole. via: https://www.foxbusiness.com/politics/trumps-tariffs-china-canada-mexico-take-effect

LARRY KUDLOW: Trump's offer was the best security tripwire Ukraine could hope for

Posted by radio1n1 — Mon, 3 Mar 2025 18:19 GMT

Volodymyr Zelenskyy doesn't seem to understand that President Donald Trump's minerals and mining deal offer is, in fact, a giant step toward Ukraine's security. I call it the tripwire effect. Think of it this way. American companies will come into Ukraine and open up drilling, excavation, and mining operations for rare earth minerals, precious metals, oil and gas, and so forth. And they will be coming in to build infrastructure in various geographic locations throughout the country. American firms will therefore be putting their boots on the ground. These are not U.S. military boots on the ground. They would be private-sector corporate boots on the ground. But they will nevertheless bring with them large-scale security. Mining and digging for minerals is no small operation. It's a very big deal. It's conceivable thousands of Americans would be moving in to do all manner of jobs, be they front-office administration or engineers out in the field. Think of it as oil patch roughnecks, like in the Permian Basin, something right out of the hit TV show Landman. Now, I call it a 'tripwire' because if the Russians start rolling in tanks or start bombing these American operations, then all global hell will break loose, and Russia would then be attacking Americans. And I don't think they want that kind of escalation. I don't think Russian President Vladimir Putin wants anything remotely near the idea of attacking and killing Americans. It's a bit like President Dwight D. Eisenhower after World War II relocating American families and businesses to Europe, alongside our post-war military bases. The old Soviet communists may have talked big, but they didn't want to start bombing Americans, be they civilian families or military ones. That American population in post-war Europe was a Cold War 'tripwire.' According to Treasury Secretary Scott Bessent, Zelenskyy failed to sign the minerals deal now three times. Once in Kyiv, where, according to Bessent, the Ukrainian leader was very rude in meetings. Once in Munich, after telling Bessent he would sign the deal there. And now last Friday in Washington. It's possible Zelenskyy is just a run-of-the-mill hothead with no manners and no respect for the Oval Office in the U.S. White House with President Trump. When Zelenskyy blew up on Friday, this hostility to America was blatantly on display for all the world to see. Not to mention, American voters are firmly behind President Trump on this. The latest poll from Harvard-Harris pollster Mark Penn shows 60% of Americans favor holding direct peace talks with Russia, and 72% want Ukraine to negotiate an end to the war. Only 28% support Zelenskyy's plan, as it essentially appears now, to simply keep fighting with no end in sight. But Trump is offering him an incredible way out. Yes, the U.S. can recoup some of its Ukraine war expenses. But, in the longer term, Ukraine's entire economy will be reopened, and its assets will be monetized in ways that will be of incalculable benefit to them. It's like Trump is offering Zelenskyy a future, but he won't take it. Instead, he keeps prattling on against ceasefires without security guarantees, when in fact Trump is offering him the best possible security guarantee Ukraine could hope for at this point. But Mr. Trump and his top advisers are worried about something that's almost inconceivable - that Zelenskyy, in reality, doesn't actually want a peace deal, and that the brutal fighting with hundreds of thousands or even millions killed and wounded will go on for years. And that really will bring us closer to World War III. via: https://www.foxbusiness.com/politics/larry-kudlow-trumps-offer-best-security-tripwire-ukraine-could-hope

Dow falls 649 points, S&P, Nasdaq slide on tariff fears

Posted by radio1n1 — Mon, 3 Mar 2025 16:48 GMT

U.S. stocks fell sharply on Monday hours before President Trump's 25% tariffs against Canada and Mexico are set to go live at midnight. The Dow Jones Industrial fell nearly 700 points or 1.48%, while the Nasdaq Composite lost 2.6% and the S&P 500 1.7%. Most active stocks included Nvidia, which lost 8% and Intel, a rival to TSMC fell 4% and Ford nearly 2%. "No room left for Mexico or for Canada. No, the tariffs, you know, they're all set. They go into effect tomorrow," Trump said, taking questions after announcing TSMC's $100 billion investment in the U.S. to "build state of-the-art semiconductor manufacturing facilities" mostly in Arizona. TARIFFS ON CANADA, MEXICO KICK-IN TUESDAY "It's going to be very costly for people to take advantage of this country. They can't come in and steal our money and steal our jobs and take our factories and take our businesses and expect not to be punished, and they're being punished by tariffs," he added. Technology and energy stocks paced the selling, while consumer staples and healthcare, defensive plays, posted fractional gains. The yield on the 10-year Treasury slipped to a three-month low of 4.2%. Along with tariffs, disappointing manufacturing data also rattled the markets. The ISM new orders index fell for the first time in six months, while the employment index remains in contraction for eight of the last nine months. The U.S. economy may be staring down a slowdown. The Federal Reserve Bank of Atlanta's GDPNow forecast, which measures growth expectations in real-time, is showing a 2.8% drop for the first quarter of 2025. Last week, consumer confidence saw the biggest drop in nearly four years. Oil slipped over 2% to $68.28 per barrel, while gold inched up 1.85% to $2,901 an ounce. TRUMP ADVANCES CRYPTO RESERVE PLAN GET FOX BUSINESS ON THE GO BY CLICKING HERE In cryptocurrencies, Bitcoin reversed earlier gains after Trump on Sunday announced plans for a crypto strategic reserve. Prices hovered below $90,000, down from a record $106,734. via: https://www.foxbusiness.com/markets/dow-falls-649-points-sp-nasdaq-slide-tariff-fears

Billionaire hedge fund manager warns of 'economic heart attack' for US economy

Posted by radio1n1 — Mon, 3 Mar 2025 16:35 GMT

Bridgewater Associates founder Ray Dalio said on a recent podcast that the U.S. could be headed towards a future "economic heart attack" without government action. He told Bloomberg's "Odd Lots" podcast that he wanted to inform policymakers that "there's a solution here" that's "doable" to address the government deficit and an impending debt crisis. "You can lower that deficit to go to 3% of GDP," he explained to the hosts Joe Weisenthal and Tracy Alloway. "Trump's tax cuts come in, the projected deficit will be about 7.5% of GDP, and you have to cut that to about 3% of GDP because that'll mean that debts won't rise relative to incomes, and it will greatly improve the supply and demand." GET FOX BUSINESS ON THE GO BY CLICKING HERE The U.S. government saw a deficit of $1.8 trillion in fiscal 2024 alone stemming from $6.75 trillion in spending while bringing in revenues of $4.92 trillion, per the Treasury Department. Dalio told "Odd Lots" that the U.S. is "quite near that point" of a debt death spiral. Without action, he suggested the country could see a "heart attack" occur in "three years, give or take a year, something like that." America's national debt currently stands at $36.2 trillion, according to the Treasury Department. It crossed the $35 trillion mark during the summer last year for the first time. NEW BUDGET PROJECTIONS SHOW US HITTING DEBT RECORD IN 4 YEARS: CBO "If you don't do it, you're going to be in trouble," the Bridgewater Associates founder said of addressing the U.S.'s deficit and debt. He had gone on the Bloomberg podcast to discuss debt cycles and talk about his upcoming book "How Countries Go Broke." It is slated for release in early September. Dalio, who founded Bridgewater about 50 years ago, has a net worth of $14 billion, according to Forbes. CLICK HERE TO READ MORE ON FOX BUSINESS via: https://www.foxbusiness.com/economy/billionaire-hedge-fund-manager-warns-economic-heart-attack-us-economy

Trump says tariffs on 'external' agricultural products to begin April 2

Posted by radio1n1 — Mon, 3 Mar 2025 15:05 GMT

President Donald Trump said on Monday that tariffs will go on "external" agricultural products in early April. "To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold inside of the United States. Tariffs will go on external product on April 2nd. Have fun!" Trump posted Monday on Truth Social. The announcement comes as tariffs against major U.S. trading partners are set to take effect at midnight. Trump delayed imposing 25% tariffs on Canadian and Mexican following last-minute concessions from both countries. Officials from the North American countries have carried out negotiations with the Trump administration in recent weeks, but no agreement to reduce the incoming tariffs has been announced. WHAT ARE TARIFFS, HOW DO THEY WORK AND WHO PAYS FOR THEM? Chinese imports would also be hit with another 10% tariff at midnight on Tuesday. The president previously already imposed a 10% levy on Chinese imports earlier this year. The White House previously said the tariffs were being imposed to hold the countries "accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country." Last week, Trump posted on Truth Social that illegal drugs are still coming into the U.S. at "high and unacceptable levels." WHAT'S HAPPENING WITH TRUMP'S TARIFFS ON CHINA, CANADA AND MEXICO? "We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled," he wrote adding, "China will likewise be charged an additional 10% Tariff on that date." GET FOX BUSINESS ON THE GO BY CLICKING HERE FOX Business' Anders Hagstrom contributed to this report via: https://www.foxbusiness.com/economy/trump-says-tariffs-external-agricultural-products-begin-april-2

Nationwide egg shortage has shoppers turning to Facebook Marketplace

Posted by radio1n1 — Mon, 3 Mar 2025 15:04 GMT

A growing number of people are selling their chicken eggs on Facebook as the nationwide shortage persists. In the last few weeks, people raising their own chickens have posted on the platform that they have eggs available for purchase as store shelves remain more bare than usual and prices continue to rise. "It's so crazy how much eggs are in the store! If you want fresh farm eggs, please let me know we collect them daily. We will wash them for you as well," one user posted. WALMART KEEPS STORE SHELVES STOCKED WITH EGGS AS SHORTAGE PLAGUES RETAILERS NATIONWIDE Another wrote: "Who needs eggs??? Available today!! If you want to get on a schedule let me know. Thanks" One person posted five different cartoons of eggs available for purchase. "We have fresh eggs and chickens available," they wrote. There are also a growing number of individuals who are attempting to raise their own chickens to skirt the shortage and high prices at the store. Jen Tompkins, co-founder of Rent The Chicken, a company that helps people rent chickens and provides all the necessary supplies, from feed to coops, has been flooded with inquiries, which have surged by 500% as of the end of February. Last week, Agriculture Secretary Brooke Rollins announced a $1 billion comprehensive strategy to curb highly pathogenic avian influenza (HPAI), otherwise known as bird flu, which has been decimating flocks and subsequently driving up prices. According to the Department of Agriculture's Economic Research Service's (ERS) food outlook, retail prices will continue to climb, rising 41.1% in 2025. Prices have shot up significantly over the past year as the industry faces the compounding effects of consecutive outbreaks devastating the U.S. egg supply. AMERICANS TAKE TO RAISING THEIR OWN CHICKENS AMID NATIONWIDE EGG SHORTAGE In January, egg prices surged 15.2%, according to the Labor Department's consumer price index. It was the largest increase in egg prices since June 2015 and accounted for nearly two-thirds of the total monthly rise in food prices, the department reported. On an annual basis, egg prices are up 53%. With the uptick in prices, some restaurants - already running on thin margins - have passed costs onto the consumer through temporary menu surcharges. GET FOX BUSINESS ON THE GO BY CLICKING HERE Some grocers have also imposed purchasing restrictions to keep shoppers from stockpiling the product. For instance, Amazon-owned Whole Foods posted signs on its shelves notifying customers that they can only buy three cartons of eggs at one time. Kroger previously confirmed to FOX Business that some banner divisions are limiting shoppers to two dozen eggs per trip, while Trader Joe's is limiting egg purchases to one dozen per customer per day. via: https://www.foxbusiness.com/lifestyle/nationwide-egg-shortage-has-shoppers-turning-facebook-marketplace

Farmers react to Trump's plan to combat egg crisis

Posted by radio1n1 — Mon, 3 Mar 2025 14:27 GMT

Industry experts know the solution to the current egg crisis will not be a quick fix, but they do believe U.S. Secretary of Agriculture Brooke Rollins' $1 billion comprehensive strategy to address the issue is a critical step forward. Farmers told FOX Business they support the focused effort to protect egg-laying hens from highly pathogenic avian influenza, otherwise known as bird flu, believing it will help stabilize the U.S. egg supply and reduce prices. Rollins' "five-pronged strategy" is aimed at curbing the growing number of bird flu outbreaks that began in 2022 and have since decimated flocks around the country and created a significant shortage in the U.S. egg supply. As part of its plan, the government agency plans to invest an additional $500 million into biosecurity measures, $400 million in financial relief for affected farmers and $100 million for vaccine research. The department is also looking to find way to reduce regulatory burdens and explore temporary import options. American Egg Board CEO Emily Metz described it as a "critical step forward" for the industry, emphasizing that Americans have heavily relied on eggs, as shown by 23 consecutive months of high demand and sales. EGGS ARE NOT THE ONLY EXPENSIVE FOOD: BEEF PRICES ARE ALSO ON THE RISE "The Administration's five-pronged approach to combat avian influenza creates a road map to recovery for the egg industry," Metz said. The plan to strengthen the industry's already strict biosecurity and disease prevention measures, provide more financial assistance to affected farmers, fund research into vaccines and therapeutics for better flock protection, remove regulatory burdens and explore temporary solutions to stabilize egg supplies will help the industry "make real progress in addressing this unprecedented systemic disruption in our egg-production system," Metz continued. Farm employee and Chief Science Officer of egg producer Versova Dr. Craig Rowles told FOX Business that while there is no "quick fix" to this complex situation, the government's plan - announced Wednesday - "is firmly in line with what egg farmers believe needs to happen to address this devastating outbreak." EGG PRICES PREDICTED TO JUMP OVER 40% IN 2025: USDA "In particular, we support the continued exploration of a comprehensive vaccine strategy that coordinates between the industry, animal disease experts, the federal government and our international trading partners. HPAI is a worldwide problem, and we must identify global solutions," Rowles said. Garrett Hawkins, president of the Missouri Farm Bureau, also called the $1 billion package "a step in the right direction" in bringing this situation under control. However, he cautioned that the industry and consumers will need to "exercise patience and understand it's going to take some time to see the fruition of this plan." EGG PRICES PREDICTED TO JUMP OVER 40% IN 2025: USDA In recent weeks, restaurants and grocers have been adding surcharges or limiting the number of eggs customers can purchase as outbreaks of bird flu continued to wreak havoc on the U.S. egg supply. As of Feb. 21, the USDA Animal and Plant Health Inspection Service has confirmed there have been 36 outbreaks in nine states. This has resulted in the loss of 26.8 million birds since the beginning of 2025. In January alone, there were about 18.8 million commercial egg layers affected by bird flu, marking the highest monthly total since the virus started to spread rapidly. Egg prices surged 15.2% in January, according to the Labor Department's consumer price index. It was the largest increase in egg prices since June 2015 and accounted for nearly two-thirds of the total monthly rise in food prices, the department reported. On an annual basis, egg prices are up 53%. The Department of Agriculture's Economic Research Service's (ERS) food outlook also projected that prices will surge over 40% in 2025. Biosecurity measures: Under the plan, the USDA said it will expand its successful Wildlife Biosecurity Assessments to egg-layer facilities nationwide to protect farms from wild birds, which the USDA says cause of 83% of all bird flu cases. The agency will also extend biosecurity audits, with free audits continuing for farms affected by HPAI. AMERICANS TAKE TO RAISING THEIR OWN CHICKENS AMID NATIONWIDE EGG SHORTAGE The USDA will also deploy 20 trained experts to help farms reduce HPAI risks and improve biosecurity, focusing on "protecting against spread through wild birds in addition to lateral spread." Increase relief to affected farmers The USDA's Animal and Plant Health Inspection Service (APHIS) will continue to compensate farmers who have to kill their flocks to control the further spread of HPAI. The agency also said new programs are being explored to help farmers to accelerate the rate of repopulation, including ways to simplify the approval process to speed recovery. Removing regulatory burdens The USDA will work with the U.S. Food and Drug Administration to examine strategies to expand supply in the commercial market for eggs. It also plans to minimize burdens on individual farmers and consumers who harvest homegrown eggs while simultaneously working with farmers and scientists "to develop innovative strategies to limit the extent of depopulations in HPAI outbreaks." GET FOX BUSINESS ON THE GO BY CLICKING HERE The USDA will also educate both consumers and Congress on the need to fix the problem of geographical price differences for eggs. Explore pathways towards vaccines, therapeutics and other strategies The U.S. will be "hyper focused" on developing new vaccines and treatments to reduce the need to kill egg-laying chickens. They will also improve the way they monitor chickens in and around outbreaks. The USDA will also work with other countries to "limit impacts to export trade markets from potential vaccination." It will also work alongside the U.S. Department of Health and Human Services to ensure public safety is kept in mind while exploring new approaches. They will hold discussions every two weeks and update the public regularly. via: https://www.foxbusiness.com/lifestyle/farmers-react-trumps-plan-combat-egg-crisis

Chip giant TSMC expected to announce $100B investment in US

Posted by radio1n1 — Mon, 3 Mar 2025 12:49 GMT

Semiconductor giant Taiwan Semiconductor Manufacturing Co. (TSMC) is expected to announce a $100 billion investment on Monday, a White House official told Fox News. TSMC, a Taiwan-based chipmaker that builds advanced semiconductors which are used to power smartphones and artificial intelligence (AI) models, is expected to announce the investment following meetings with President Donald Trump. The investment is expected to focus on advanced semiconductor manufacturing facilities over the next four years. TSMC has previously invested in a chip factory in Arizona with an initial $12 billion investment, and last April it announced an additional investment of $25 billion to add a third factory at its Arizona facility by 2030 to bring its total investment there to $65 billion. The company also received an award of up to $6.6 billion in grants from the CHIPS Act for the Arizona facility as well as other federal funds from the law that aimed to bolster domestic semiconductor manufacturing in the U.S. TSMC said Monday that it "looks forward to discussing our shared vision for innovation and growth in the semiconductor industry, as well as exploring ways to bolster the technology sector along with our customers." Reuters contributed to this report. via: https://www.foxbusiness.com/markets/chip-giant-tsmc-expected-announce-100b-investment-us

Warren Buffett says tariffs are an economic 'act of war': 'Tooth Fairy doesn't pay 'em'

Posted by radio1n1 — Mon, 3 Mar 2025 12:45 GMT

Legendary investor Warren Buffett discussed the economic impact of tariffs in a rare media interview published on Sunday. Buffett was interviewed by CBS News' Norah O'Donnell as part of a documentary on Washington Post publisher Katharine Graham, and the legendary Berkshire Hathaway CEO talked about the economic impact of the Trump administration's pending tariffs. "Tariffs are actually, we've had a lot of experience with them. They're an act of war to some degree," Buffett said. "Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!" Buffett jokingly said. "And then what? You always have to ask that question in economics. You always say, 'And then what?'" WARREN BUFFETT, IN ANNUAL LETTER, TOUTS BERKSHIRE HATHAWAY'S SUCCESS Buffett's remarks come as President Donald Trump's planned 25% tariffs on imported goods from Mexico and Canada are expected to take effect on Tuesday, along with an additional 10% tariff on Chinese goods, barring a last-minute postponement by the White House. Trump has proposed the creation of an "External Revenue Service" to collect those tariffs, which he argues are paid by those outside the country. However, importing firms are responsible for paying the cost of the tariff, which is currently collected by the U.S. Customs and Border Protection agency. WARREN BUFFETT TOUTS US STOCK HOLDINGS, JAPAN INVESTMENTS O'Donnell asked Buffett about the condition of the U.S. economy, but he declined to weigh in on the subject directly. "Well, I think that's the most interesting subject in the world, but I won't talk, I can't talk about it, though. I really can't," he said. Buffett was also asked about his view on investing in America, saying that it will always be the primary destination for funds from his portfolio. "A majority of any money I manage will always be in the United States," Buffett said. When asked why that is, he responded, "It's the best place! I was lucky to be born here." WARREN BUFFETT'S ANNUAL LETTER TO BERKSHIRE HATHAWAY SHAREHOLDERS: READ HERE Berkshire Hathaway recently released its annual report for 2024 which included a letter from Buffett in which he discussed the firm's large cash holdings and his preference for equity investment. "Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities," he said. "That preference won't change. While our ownership in marketable equities moved downward last year from $354 billion to $272 billion, the value of our non-quoted controlled equities increased somewhat and remains far greater than the value of the marketable portfolio." GET FOX BUSINESS ON THE GO BY CLICKING HERE "Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities - mostly American equities although many of these will have international operations of significance. Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned," Buffett wrote. via: https://www.foxbusiness.com/politics/warren-buffett-says-tariffs-economic-act-war-tooth-fairy-doesnt-pay-em

Domino's Pizza debuts stuffed crust in effort to boost sales

Posted by radio1n1 — Mon, 3 Mar 2025 12:20 GMT

Domino's Pizza has officially rolled out stuffed crust in the U.S. The company on Monday announced that customers can now order cheese-filled crust at all locations in the U.S., joining the ranks of pizza chains that already offer it. "One of the most common questions we're asked is, 'When will you launch stuffed crust?' We're excited to announce that our first-ever stuffed crust is finally here and we promise, it is worth the wait. We think the best stuffed crust was saved for last," Domino's Chief Marketing Officer Kate Trumbull said in a statement. Domino's new Parmesan Stuffed Crust consists of dough that the chain is filling with mozzarella cheese and topping with garlic seasoning and Parmesan cheese. GET FOX BUSINESS ON THE GO BY CLICKING HERE The chain also said Monday that it would hold a giveaway of $250,000 worth of its stuffed crust pizzas to "make it up to" customers who Domino's said "have had to go elsewhere to fulfill their stuffed crust cravings" for years. Yum! Brands-owned Pizza Hut has sold stuffed crust since the mid-1990s, while other competitors Little Caesars and Papa John's have made it available for their own pizzas in the past several years. DOMINO'S MANAGER FIRED BY FRANCHISEE FOR COMPLAINING OWNER HIRED ILLEGAL IMMIGRANTS, LAWSUIT CLAIMS Domino's missed estimates for quarterly same-store sales and said the consumer environment for fast food would remain pressured in 2025 as companies double down on their value meal offerings. Fast-food chains have been relying more on discounting in recent years - with Domino's introducing value offerings to drive demand in late 2023. CEO Russell Weiner told analysts during the fourth-quarter earnings call last week that Domino's planned to "continue to build on this momentum" it saw with its New York Style Pizza and Mac & Cheese "by launching at least two new products" in 2025. U.S. same-store sales grew 0.4% in the fourth quarter, well below LSEG analysts' estimate of 1.63%. The company had more than 7,000 locations across the country as of the end of December. CLICK HERE TO READ MORE ON FOX BUSINESS Reuters contributed to this report. via: https://www.foxbusiness.com/lifestyle/dominos-pizza-debuts-stuffed-crust-effort-boost-sales

O'Leary warns Trump, Trudeau's 'very negative' relationship has 'just gotten worse'

Posted by radio1n1 — Mon, 3 Mar 2025 12:06 GMT

O'Leary Ventures Chairman and "Shark Tank" star Kevin O'Leary shut down attempts by Canada to push anti-Donald Trump rhetoric and warned the relationship between the two bordering nations has "just gotten worse." "This reaction in Canada has mostly to do with the constant barbs that Trump is throwing at Trudeau, who is still in power for another 22 days. There's a very negative relationship there. And it's just gotten worse because Trudeau has been putting out posts while he's in Europe stirring up anti-Trump sentiment," O'Leary said on "Varney & Co." Monday. "These guys never liked each other, and Trudeau has nothing to lose." President Donald Trump said last week that his proposed 25% tariffs on Mexico and Canada remain on track to go into effect March 4, because drugs are still pouring into the U.S. from across their borders at "very high and unacceptable levels." TRUMP IS PLAYING A DANGEROUS TARIFF GAME DESPITE HIS 'REALLY STRONG' AGENDA, U.S. ECONOMIST WARNS Canada will also reportedly suffer an additional 10% tax on their energy products, such as oil and electricity. The political tension has reverberated into the Canadian public, as loud boos were heard during America's national anthem in hockey's 4 Nations Face-Off. More recently, some north-of-the-border coffee shops are changing the name of the Americano drink to "Canadiano." "So Trump keeps going with, 'Let's buy [Canada] as the 51st state.' And that has made Canadians crazy. But the truth is that that is not being discussed at all," O'Leary commented. "That's not part of the actual narrative that's occurring... in Washington, D.C., because there's no leadership in Canada at the federal level. There's no active prime minister that's relevant." The trade war between the two countries comes as Canada will also be transitioning to new leadership in the coming months after current Prime Minister Justin Trudeau announced in January that he would step down and end his nine-year run leading the country. GET FOX BUSINESS ON THE GO BY CLICKING HERE "It's a void. And so what's occurred is, all of the premiers of the different provinces that have different agendas - Ontario is different than Alberta, for example, they're the giant behemoths in terms of economies and Saskatchewan for energy as well - they're down with their teams trying to focus on a new deal," O'Leary continued. "If you want to call it NAFTA 3, there is a slight chance this whole thing gets punted till April 2nd after the report comes out on the impact of tariffs on Canada and Mexico," he expanded. "But this nationalism in Canada is the noise. It's not the signal." READ MORE FROM FOX BUSINESS FOX Business' Stephen Sorace and Fox News' Michael Lee contributed to this report. via: https://www.foxbusiness.com/media/oleary-warns-trump-trudeau-very-negative-relationship-has-just-gotten-worse

Trump tariffs on Mexico, Canada, China are hours away from hitting at midnight

Posted by radio1n1 — Mon, 3 Mar 2025 11:37 GMT

President Donald Trump's tariffs on Mexico and Canada are set to go into effect at midnight on Tuesday, setting up a second economic showdown with America's neighbors. Trump's administration delayed imposing 25% tariffs on Canadian and Mexican goods last month following last-minute concessions from both countries. Officials from both countries have carried out negotiations with the Trump administration in recent weeks, but no agreement to reduce the incoming tariffs has been announced. Peter Navarro, the White House senior counselor on trade and manufacturing, defended Trump's approach to tariffs on Monday. The White House has pointed to fentanyl and other drug trafficking across both the northern and southern borders to justify the tariffs. "If you think about the problem, it starts in communist China with the precursor chemicals. It comes into Mexico and they make the fentanyl. But they also have these pill presses. So they do the counterfeits. And they're using Canada as a transit hub and secondary point to manufacture as well. So this is a Canada-Mexico-China thing," Navarro told CNBC. WHAT ARE TARIFFS, HOW DO THEY WORK AND WHO PAYS FOR THEM? Trump has also announced plans to double existing tariffs on China to 20% beginning Tuesday. He also teased other tariffs launching April 2, but did not offer details. "To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States. Tariffs will go on external product on April 2nd. Have fun!" Trump wrote on social media. WHAT'S HAPPENING WITH TRUMP'S TARIFFS ON CHINA, CANADA AND MEXICO? Commerce Secretary Howard Lutnick confirmed that the tariffs are still set to go into place, but their severity is still up to negotiations. "There are going to be tariffs on Tuesday on Mexico and Canada. Exactly what they are, we're going to leave that for the president and his team to negotiate," Lutnick told Fox News on Sunday. Canadian Internal Trade Minister Anita Anand met with U.S. officials in Washington in recent days, though no announcements came from the meetings. Canadian Prime Minister Justin Trudeau has said that Canada will retaliate with tariffs on $30 billion worth of U.S. goods if the 25% tariffs move forward. Meanwhile, Mexican President Claudia Sheinbaum has emphasized that "Mexico must be respected" in negotiations. "Co-operation and co-ordination, yes, subordination, never," she said at an event Sunday. The White House did not immediately respond to a request for comment from Fox News Digital. GET FOX BUSINESS ON THE GO BY CLICKING HERE The implementation of these tariffs leaves open the possibility that American consumers could face higher prices for certain products if they ultimately take effect. via: https://www.foxbusiness.com/politics/trump-tariffs-mexico-canada-china-hours-away-from-hitting-midnight

Kroger CEO resigns after board investigation into his 'personal conduct'

Posted by radio1n1 — Mon, 3 Mar 2025 07:51 GMT

Kroger Co. CEO Rodney McMullen has resigned from his post following an investigation into his personal conduct, the company announced Monday. Kroger said in a statement that McMullen's conduct was "unrelated to the business" but was still "inconsistent with Kroger's Policy on Business Ethics." McMullen's removal comes months after Kroger ended a $25 billion merger with Albertsons under his leadership. Albertsons sued Kroger for breach of contract, arguing they tanked the deal. "On February 21, the Board was made aware of certain personal conduct by Mr. McMullen and immediately retained outside independent counsel to conduct an investigation, which was overseen by a special Board committee. Mr. McMullen's conduct is not related to the Company's financial performance, operations or reporting, and it did not involve any Kroger associates," the company said in a statement. Ronald Sargent has now been appointed chairman of the board of directors and interim CEO in McMullen's place. KROGER-ALBERTSONS MERGER HEADS TO TRIAL "As interim CEO, I am committed to working alongside our proven and experienced management team and dedicated associates to ensure Kroger continues providing exceptional value for our customers," Sargent said in a statement. KROGER-ALBERTSONS MERGER: IS IT GOOD OR BAD FOR SHOPPERS? "Kroger has been a special place throughout my retail career after spending summers in college working in stores, as well as my first ten years after business school at corporate headquarters, before more recently serving as lead independent director. My decades here have given me a full appreciation of what makes Kroger unique, and I am excited to work even more closely with this talented team. I plan to be a steady, but active hand in the execution of our strategy," he continued. Sargent has been a Kroger director since 2006 and has served as the lead director of Kroger since 2017. He spent the first 10 years of his professional career at Kroger, working in several roles across stores, sales, marketing, manufacturing and strategy. Sargent is a veteran retail operator and leader with 35 years of experience, including as the chairman and CEO of Staples, Inc., Kroger says. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Kroger-Albertsons deal would have been the largest merger in the history of the grocery industry. Reuters contributed to this report. via: https://www.foxbusiness.com/economy/kroger-ceo-resigns-after-board-investigation-his-personal-conduct

Trump praises Treasury Department's move to suspend enforcement of BOI requirements

Posted by radio1n1 — Mon, 3 Mar 2025 03:16 GMT

President Donald Trump praised the Treasury Department on Truth Social on Sunday for announcing it was suspending enforcement of the Beneficial Ownership Information (BOI) reporting requirement for U.S. citizens and domestic companies. The Biden-era initiative says you may be required to report certain information on your beneficial owners to the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), according to the IRS. Trump called the requirement "outrageous and invasive." TREASURY DEPARTMENT SAYS DOGE WILL HAVE 'READ ONLY' ACCESS TO PAYMENT SYSTEMS IN LETTER TO CONGRESS "Exciting news! The Treasury Department has announced that they are suspending all enforcement of the outrageous and invasive Beneficial Ownership Information (BOI) reporting requirement for U.S. Citizens," Trump wrote. "This Biden rule has been an absolute disaster for Small Businesses Nationwide. Furthermore, Treasury is now finalizing an Emergency Regulation to formally suspend this rule for American businesses. The economic menace of BOI reporting will soon be no more." The Treasury Department announced in a series of posts on X that penalties or fines associated with BOI will not be enforced, and neither will penalties against U.S. citizens or domestic reporting companies or their beneficial owners. TREASURY SECRETARY BESSENT OFFERS ZELENSKYY AN ECONOMIC INVESTMENT DEAL Instead, the focus will turn to foreign companies only. "Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses and ensuring that the rule is appropriately tailored to advance the public interest," the department said. GET FOX BUSINESS ON THE GO BY CLICKING HERE "This is a victory for common sense," Treasury Secretary Scott Bessent said. "Today's action is part of President Trump's bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy." This decision comes as Trump's executive orders are tweaking border tariffs and will align with his broader economic pledge of cutting between $1.5 trillion and $2 trillion in federal spending. via: https://www.foxbusiness.com/small-business/trump-praises-treasury-departments-move-suspend-enforcement-boi-requirements

Southbound Delta flight diverts back to Boston after 'smoky odor' detected in cabin

Posted by radio1n1 — Sun, 2 Mar 2025 16:08 GMT

A Delta Air Lines flight departing from Boston reversed course after a "smoky odor" was detected in its cabin on Sunday. Flight 1398, which left Logan International Airport at 8:55 a.m. on Sunday morning, was supposed to land in New Orleans at noon before it reversed course. The Airbus A220 aircraft carried 87 customers, plus three flight attendants and two pilots. It landed back in Beantown at around 9:35 a.m. A Delta spokesperson told Fox News that the aircraft had declared an emergency in order to get priority landing from air traffic control, and that emergency response personnel had met the plane on the runway. The aircraft made it to its gate safely, and all passengers continued their travels. TORONTO PLANE CRASH: DELTA OFFERS PAYMENT TO VICTIMS AMID INVESTIGATION OF PLANE THAT FLIPPED UPSIDE DOWN "Delta flight 1398 returned to Boston shortly after takeoff after a smoky odor was detected in the cabin," the statement read. "Our flight crew followed established procedures and returned to Boston safely. We sincerely apologize to our customers for the delay in their travels." The Federal Aviation Administration (FAA) also released a statement about the incident. "Delta Air Lines Flight 1398 returned safely to Boston Logan International Airport around 9:35 a.m. local time on Sunday, March 2, after the crew reported fumes in the flight deck and cabin," the government agency said. "The Airbus 220 was heading to Louis Armstrong New Orleans International Airport. The FAA will investigate. Please contact the airline for more information." ALASKA CREWS RECOVER REMAINS OF ALL 10 PLANE CRASH VICTIMS, AUTHORITIES SAY The incident comes less than two weeks after Delta Connection flight 4819 crashed while landing at Toronto Pearson Airport on Feb. 17. No passengers died, but the CRJ-900 jet flipped upside down on the runway, and numerous injuries were reported. In a different Delta-related incident last month, a Delta flight was diverted back to Los Angeles after smoke was detected in the galley. GET FOX BUSINESS ON THE GO BY CLICKING HERE Authorities are actively investigating the incident. via: https://www.foxbusiness.com/lifestyle/southern-bound-delta-flight-diverts-back-boston-after-smoky-odor-detected-cabin

Trump moves 'crypto strategic reserve' forward, promises to elevate industry

Posted by radio1n1 — Sun, 2 Mar 2025 14:01 GMT

President Donald Trump revealed his intent to move forward with plans to establish a U.S. Crypto Reserve on Sunday. Trump says he signed an executive order creating a reserve that includes a number of cryptocurrencies. The move comes just days before the White House is set to host a crypto summit on March 7. "A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump wrote. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!" he added. TRUMP SAYS HE'S TERMINATING CHEVRON'S VENEZUELA OIL AGREEMENT The crypto summit will be held on Friday, marking the first-ever White House event of its kind. Trump is expected to deliver remarks during the summit, the White House said. The event will include "prominent founders, CEOs, and investors from the crypto industry, as well as members of the president's Working Group on Digital Assets," according to the White House. The summit will be led by venture capitalist and White House AI and crypto czar David Sacks and will be administered by the working group's executive director, Bo Hines. This comes after Trump signed an executive order in January to establish the working group, which consists of officials from various federal agencies to advise the White House on policy surrounding digital assets. GET FOX BUSINESS ON THE GO BY CLICKING HERE During his 2024 campaign, Trump vowed to streamline regulations, support a stablecoin framework and establish a Bitcoin stockpile, according to Bloomberg News. via: https://www.foxbusiness.com/politics/trump-moves-crypto-strategic-reserve-forward-promises-elevate-industry

Treasury Sec blames Zelenskyy for threatening peace deal: 'He chose to blow that up'

Posted by radio1n1 — Sun, 2 Mar 2025 12:33 GMT

Ukrainian President Volodymyr Zelenskyy chose to blow up an economic deal between Ukraine and the U.S. during a tense Oval Office meeting with President Donald Trump on Friday, Treasury Secretary Scott Bessent said Sunday, adding that there is no deal presently on the table. Bessent appeared on CBS' "Face the Nation," where he described that a critical part of Trump's idea for the economic arrangement between Ukraine and the U.S. was "to further intertwine" the people of the two nations and show the Russian leadership "there was no daylight" between the two. "And President Zelenskyy came into the Oval Office and tried to relitigate in front of the world the deal," he said. "The place to have done it would have been in the private lunch." Zelenskyy's meeting with Trump and Vice President JD Vance erupted into a shouting match at the White House on Friday that was seen worldwide when the Ukrainian president pressed the American leaders for security guarantees against Russia. ZELENSKYY SPEAKS OUT AFTER PUBLIC SPAT WITH TRUMP, VANCE, SAYS DUSTUP 'BAD FOR BOTH SIDES' "We had President of France Emmanuel Macron in on Monday. Great meeting. We had Prime Minister Keir Starmer on Thursday. Fantastic meetings," Bessent said. "They were all on board the arc of the peace agreement. All President Zelensky had to do was come in and sign this economic agreement. And again, show no daylight, no daylight between Ukrainian people and the American people. And he chose to blow that up." Bessent blamed Zelenskyy, who left the White House without signing the deal, for having "thrown out the sequence" toward a possible peace deal to end the war with Russia. TRUMP SAYS ZELENSKYY CAN 'COME BACK WHEN HE IS READY FOR PEACE' AFTER FIERY WHITE HOUSE EXCHANGE As far as security guarantees, Bessent said he believed the plan is for the European Union to provide Ukraine with security, emphasizing that the North Atlantic Treaty Organization (NATO) would not. Bessent said everything had been in place to have the economic deal signed prior to the Oval Office blowout, adding that, as of Sunday, no such deal was on the table any longer. As part of negotiations to end the Russia-Ukraine War, the Trump administration was angling for Zelenskyy to sign an agreement that would allow the U.S. access to Ukraine's minerals in exchange for support the U.S. has provided the country since Russia's invasion in 2022. GET FOX BUSINESS ON THE GO BY CLICKING HERE Congress has appropriated $175 billion since 2022 for aid to Ukraine, according to the Council on Foreign Relations. Fox News Digital's Diana Stancy contributed to this report. via: https://www.foxbusiness.com/politics/treasury-sec-blames-zelenskyy-threatening-peace-deal-he-chose-blow-up

Just like Trump, Hungarian leader Orban wants more babies for his country, offering big incentives

Posted by radio1n1 — Sun, 2 Mar 2025 10:19 GMT

Earlier this year, Donald Trump announced that he would like Americans to have more babies and pushed forward ways to help that happen. These include expanding access to invitro fertilization and increasing spending in areas with higher marriage and birth rates. But over the Atlantic, Victor Orban, Hungary's Prime Minister, presented an audacious new idea. He wants to introduce a lifetime income tax exemption for all women who have two or more babies. Orban stated on X, "2025 is the year of the breakthrough! We are launching the largest tax reduction program in Europe. We are introducing full, lifelong income tax exemption for mothers with two and three children. There's nothing like this in the whole world!" "Hungary's cost of living is high, so the government needs to subsidize families," says Ben Habib, chairman of the Great British Political Action Committee and former co-deputy leader of Reform UK. "It makes it easier for mothers to stay home." TRUMP AND 'NO ONE ELSE' CAN END THE UKRAINE-RUSSIA WAR, US ALLY SAYS Orban's proposal seems to be about more than catching votes. Rather, the focus looks like a way to fix the country's declining population, which has fallen to 9.9 million this year, down from 10.7 million in 1980, according to data from Macro Trends. The drop is primarily due to the collapse in Hungary's birth rate. To sustain the population level, the birth rate needs to be at least two births per woman, experts say. But that hasn't happened since 1979, according to World Bank data. The birth rate for 2023 was 1.5 children per woman. A declining population is a natural development as countries get richer, says Win Thin, global head of markets strategy at financial company Brown Brothers Harriman. "As economies grow and more mature, the birth rates decline," he says. And that's where Orban's ideas kick in, because giving out money can help increase the birth rate. "If there is no biological cause to the falling birth rate, you can reverse it, but you need to have incentives," says Robert Wright, professor of economics at Central Michigan University. Hungary already has scaled subsidies for families with children. For instance, two-parent families with one child get 12,200 Hungarian Forints ($32) per month for that child, whereas couples with three or more children receive 16,000 ($41.60) forints per child per month, according to the Hungarian government. Single parents and those with children with disabilities or long-term illnesses get more money. There are other benefits, including interest-free loans for younger women. AS THE US-UKRAINE RARE EARTH MINERALS DEAL TAKES SHAPE, HERE'S WHAT TO KNOW It might seem strange to have a sliding scale of benefits, but there is some logic. As a family gets larger, the expenses can grow even fast, says Pete Earle, director of economics and economic freedom at the American Institute for Economic Research. "When a couple have three children, [they] will need a house, not just an apartment," he says. You could also see a need for bigger cars to ferry children to and from school. Orban's new proposal of eliminating income tax for mothers of two or more children, could be even more generous than the current subsidies. "What he's proposing is even bigger, especially for higher-income people," Wright says. However, the drop in population isn't Hungary's only challenge. The country has recently suffered economic problems that will make subsidizing people to have larger families even harder. These include slow growth, high inflation and lack of foreign investment. GDP contracted by 0.9% in 2023 and grew by a modest 0.5% last year, according to data from Trading Economics. The government also registered a deficit of 6.7% of GDP in 2023, followed by an estimated nearly 5%, which will likely be similar this year. Meanwhile, the country's inflation is rising. It was 5.5% in January, up from 3% in September. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Hungary has tremendously big budget deficits, so I don't know how they are doing to afford Orban's new proposal," Earle says. Nevertheless, Orban's proposal, while different from Trump's, will likely help secure a closer relationship between the U.S. and Hungary. "Orban is one of the winners in the U.S. election," says Marc Chandler, chief market strategist at Bannockburn Global Forex. via: https://www.foxbusiness.com/fox-news-world/just-like-trump-hungarian-leader-orban-wants-more-babies-his-country-offering-big-incentives

Palm Beach, the Wall Street of the South has a hot luxury real estate market

Posted by radio1n1 — Sun, 2 Mar 2025 09:01 GMT

Palm Beach and West Palm Beach have been experiencing a very active real estate market. Both places are located within Palm Beach County in sunny South Florida, with the former sitting on a barrier island and the latter just across the Lake Worth Lagoon. Palm Beach County saw over 13,300 single-family home sales transactions and 9,900 condo and townhouse deals close in 2024, according to a report from Broward, Palm Beaches and St. Lucies Realtors. "Right now, South Florida real estate in general, but especially West Palm Beach, Palm Beach is extremely active," Douglas Elliman sales associate John Wilson told FOX Business in an interview, adding the area has "bunches of new development." There were 398 new signed contracts for Palm Beach County single-family homes and 335 for condos last month, a report from Douglas Elliman showed. Some 1,600 homes were newly listed. Condo signed contracts and listings were both also up year-over-year in January. Palm Beach and West Palm Beach's luxury markets have been particularly flourishing. "A lot of the, let's say like $700,000 to $2 million, that's sort of an interest rate driven market, so it's not as much, where mainly what we're dealing with on the island and in West Palm Beach, and we do a lot of new development, a lot of that's cash," Wilson said. He said he has "never seen anything like this" in the West Palm Beach market. "West Palm, I describe it this way ... It was kind of like the outside of the island if you know what I mean and sort of quiet and really wasn't over developed, but now, with all the developers and stuff coming here, this place is on fire, and it's exciting because there's just so much new things happening. It's like a renaissance, if you will." Wilson said demand in Palm Beach and West Palm Beach's luxury markets had grown "exponentially" in recent months. "Right before the election, it was sort of like 'wait and see." Yes, there was activity, but I think people were holding back, and it just seemed like after the election, the market just lit up. It just got way more active, way more people were looking," he said. WASHINGTON DC GETS 'TRUMP BUMP' IN LUXURY HOME MARKET New signed contracts for single-family homes worth at least $1 million in Palm Beach County clocked in at 138 in January, up from 90 in the same month last year, the Douglas Elliman report found. He noted that ultra-luxury market properties in the Palm Beach and West Palm Beach area had been trading before the November election "even in season, which is the summertime," but said the luxury market "definitely" saw a boost in activity after the election. Palm Beach County notched 132 sales of homes worth more than $10 million over the course of 2024, according to a recent report from Compass. That marked a 21.1% year-over-year jump. Wilson also weighed in on what he thinks is driving demand in the two locales. "People want to be here," he said. "Everyone's always known about Palm Beach Island, but I think during Covid, what happened is people rediscovered it, and what you had is you had a whole new group come rolling into town during Covid, and then what happens? Like all things in life, all of the sudden, you start telling your friends 'I'm having so much fun' and 'you gotta see this,' and then more and more people come." Building development in West Palm Beach played a part as well, according to Wilson. He also said young families have been moving to the area because of new development and "what's happening with all the hedge funds." More than 300 hedge funds, private equity firms and financial services call Palm Beach County home, according to the Development Board of Palm Beach County. BENTONVILLE, AR IS GROWING RAPIDLY, WHICH HAS FULED A HOT REAL ESTATE MARKET It has helped the area, particularly West Palm Beach, earn the nickname "Wall Street South." Wilson also told FOX Business "there's always going to be demand on the island [Palm Beach], but you can come over to West Palm Beach, get a beautiful residence, whether that's a new development condo or a house for a lot less than on the island, and literally just cross a bridge and still be on the island and all the activity and Worth Avenue and the shopping." Worth Avenue is an area in Palm Beach known for its restaurants and high-end shopping. Wilson said there are "no new development buildings" in Palm Beach so "there's a lot going on and there's a lot being traded in the condo market, but the single-family home market is extremely strong" and "continues to remain very strong." West Palm Beach is seeing a lot of new luxury condo buildings being developed, he also said. The real estate markets in the two cities didn't become hot overnight, according to Wilson. Rather, it has been going on for "a few years now," with the boom during the pandemic helping drive that. He was bullish about the future for the real estate markets in Palm Beach and West Palm Beach. BOZEMAN, MONTANA HOME TO A BOOMING REAL ESTATE MARKET "I think it's going to continue to go higher because of demand," Wilson said, noting many people from the Northeast and California are coming to the area. "If you're looking at long-term growth potential over the next two to three to five years, I would say this market's going to continue to drive higher." Homes in Palm Beach had a median listing price of $3 million in January, according to Realtor.com. In West Palm Beach, it was $374,200. via: https://www.foxbusiness.com/real-estate/palm-beach-wall-street-south-has-hot-luxury-real-estate-market

Bing Crosby's California home for sale for $40 million

Posted by radio1n1 — Sun, 2 Mar 2025 09:00 GMT

Bing Crosby's former home has officially hit the market after nearly six decades. The singer's former 1920s French Chateau-style home, which sits on five acres of land, roughly 18 miles from San Francisco, in San Mateo County, is currently on the market for $40 million, in partnership with listing agent Jennifer Gilson from Golden Gate Sotheby's International Realty. Bing and his wife, actress Kathryn Grant, bought the home in the 1950s, in an effort to raise their children outside the Hollywood spotlight, and it continues to be the family home. The couple's son, Harry Crosby, says Grant continued to live in the home following Bing's death in 1977, and many of Crosby's trophies, including his Academy Award for the 1944 film, "Going My Way," are still on display. "This isn't just a luxury home-it's a piece of American history. From its French chateau elegance to its storied past with icons like Bing Crosby and the legendary Seabiscuit, this estate represents an era of grandeur that is nearly impossible to replicate today," Gilson told FOX Business. "Nestled on over five acres in Hillsborough's most prestigious enclave, it offers the ultimate combination of privacy, legacy, and timeless sophistication. This is more than a residence-it's a landmark of California's golden age." BING CROSBY STRUGGLED TO SING 'WHITE CHRISTMAS' TO TROOPS, 'MOST DIFFICULT THING' IN HIS CAREER Following Grant's death in September 2024, their children decided it was time to let go of the 11-bedroom, 10-bathroom, almost 14,000-square-foot home. According to Gilson, the $40 million price tag could set a record in Hillsborough. "It's difficult to turn the page emotionally, but all good things come to an end," Harry told Mansion Global, adding that it was an "inevitable decision," as he and his siblings all live in different areas throughout the country. Leading up to the red front door is a brick courtyard, lined with green hedges and stone pillars, looking up at the faded red and white brick facade of the home. Once through the front doors, guests will find themselves in the stunning foyer, with light hardwood floors, decorated with a blue rug, gray walls with square moldings, decorated with ornate gold art, and a chandelier hanging from the ceiling. A grand staircase with an intricate wooden railing leading to the upper level can be found on the right side of the foyer. The spacious living room, which Harry told Mansion Global is his favorite room in the house, features a grand piano, floor-to-ceiling windows, bringing in plenty of natural light, as well as a door leading to the grassy fields outside. Harry remembers his family gathering around the grand piano during the holiday season to sing Christmas carols, including his dad's hit song, "White Christmas." The room features a wood-burning fireplace, hardwood floors, multiple chandeliers and ornate carvings on the walls. Bing's office has mostly been kept how he left it prior to his death, with many of the awards he collected over the course of his career on display. The room boasts many floor-to-ceiling windows, as well as wood paneling with hand-carved designs on the far wall. Found within the wood paneling are a wood-burning fireplace and built-in bookshelves, which sit atop hardwood floors completely covered by a sizable red rug. A wooden desk sits opposite a large window, with white armchairs placed in front of it. Harry told Mansion Global that much of the wood used for the paneling found in the home, as well as the wooden railing for the staircase, came from the collection of William Randolph Hearst, a close friend of Bing's and a famous newspaper publisher. The wood used in the home, which Hearst sourced from Europe, was leftover from the construction of Hearst Castle in San Simeon. Elsewhere in the home is the unique dining room, which is found in a circular space surrounded by French glass doors leading out into the backyard. The room is big enough to house a dining table large enough for 12 guests and features a large Venetian glass chandelier hanging in the center of the room. The walls of the dining room are decorated with hand-painted roses. One of the 11 bedrooms found in the home is the spacious primary suite, which boasts white walls, except for an accent wall above the bed, white carpet floors and a wood-burning fireplace. One key highlight of the primary bedroom is the luxurious ensuite bathroom. Just as nice as the primary bedroom, the remaining bedrooms are found throughout the home. One of them features multiple floor-to-ceiling windows with beige walls, a chandelier in the center of the room, two large mirrors on either side of the blue bed and a painting of Audrey Hepburn in "My Fair Lady" hanging on the wall. The windows open out onto Juliet balconies, which look out onto the backyard. The home's massive backyard once had a pool, but it was filled in, to keep the kids safe. The backyard now boasts a large grass field, which provides plenty of space for family gatherings. via: https://www.foxbusiness.com/fox-news-entertainment/bing-crosbys-california-home-sale-40-million

Fast food chain says they've 'RFK'd' their fries, opting for healthier cooking alternative

Posted by radio1n1 — Sun, 2 Mar 2025 07:01 GMT

There's a kitchen shakeup at an American fast-food chain. Steak 'n Shake has announced a major change to its beloved shoestring fries, and they say the inspiration partially came straight from the new Trump administration's Health and Human Services Secretary, Robert F. Kennedy Jr. Starting in March, all Steak 'n Shake locations will cook their fries in beef tallow instead of vegetable oil. The company broke the news on X with a post declaring; "By March 1 ALL locations. Fries will be RFK'd!" Steak 'n Shake's Chief Operations Officer, Daniel Edwards, joined "Fox & Friends" Thursday to talk about the change, saying the company had been considering the switch for some time. HEAD OF FDA'S FOOD DIVISION RESIGNS AFTER DOZENS OF TERMINATIONS AT THE AGENCY: REPORT "We've actually been thinking about this for a while. Our owner, my boss, is a man named Sardar Biglari," Edwards said. "He called me one time and said you know, 'Why should Europeans have better fries than Americans?'" Edwards explained that Biglari's love for beef tallow fries started when he visited Belgium as a child, where he had what he called the best fries of his life. That memory stuck with him, and for years, he wanted Steak 'n Shake to capture that same taste. Now, thanks to a new supplier capable of meeting their beef tallow needs, the chain is making the leap. "We found a supplier that could finally do that for us, and he said 'We got to do it, we got to do it everywhere.' And so, we did," Edwards said. "We RFK'd our fries." REMOVING ONE FOOD INGREDIENT FROM YOUR HOME IS FIRST STEP TO 'DOING MAHA,' INFLUENCER SAYS Secretary Kennedy has been a vocal advocate for using beef tallow in cooking, often arguing that seed oils, commonly used in fast food, may contribute to rising obesity rates. While the science of that claim is still up for debate, with the American Heart Association stating there's "no reason" to avoid seed oils, Steak 'n Shake believes the switch is about more than just health. "They're so much better," Edwards said, arguing customers will notice a major difference in the new fries. CLICK HERE TO READ MORE ON FOX BUSINESS "These fries cooked in beef tallow - it's crispier, it's golden brown, it's absolutely delicious," he said. "You're going to love them when you try them. You're not going to want to ever go back to the old way of doing fries. And it's the authentic way, the original way." The company is betting that its back-to-basics approach will win over customers looking for that rich, old-school flavor. via: https://www.foxbusiness.com/media/fast-food-chain-says-theyve-rfkd-fries-opting-healthier-cooking-alternative

Volkswagen to recall more than 60,000 electric cars over display issue

Posted by radio1n1 — Sun, 2 Mar 2025 03:03 GMT

Volkswagen is recalling more than 60,000 U.S. cars in response to a failure to display the gear position that could lead to a vehicle rolling away if the parking brake is not engaged, increasing the risk of crashes. The U.S. National Highway Traffic Safety Administration made the announcement on Saturday, impacting 60,490 electric cars. The affected vehicles include certain 2021-2023 Volkswagen ID.4 as well as 2022-2023 Audi Q4 e-Tron and Q4 e-Tron Sportback cars, the NHTSA said. TESLA RECALLS OVER 376K VEHICLES OVER POTENTIAL POWER STEERING ISSUE The problem was first discovered in August after five cases were reported outside the U.S. The issue is linked to a software glitch that fails to display some gear positions correctly. The NHTSA has highlighted the importance of swiftly addressing safety concerns like this one. HONDA RECALLS NEARLY 295K HONDA, ACURA VEHICLES FOR RISK OF ENGINE STALL, POWER LOSS GET FOX BUSINESS ON THE GO BY CLICKING HERE Volkswagen is working to notify vehicle owners and correct the issue. The recall comes after Volkswagen issued a separate recall last month - affecting around 30,000 cars - over rearview cameras not displaying properly. That recall mostly impacted Audi Q3 and some Volkswagen Tiguan and Arteon cars. Reuters contributed to this report. via: https://www.foxbusiness.com/economy/volkswagen-recall-more-than-60000-electric-cars-over-display-issue

Trump issues executive orders addressing lumber production, national security concerns

Posted by radio1n1 — Sun, 2 Mar 2025 00:06 GMT

President Donald Trump on Saturday signed two executive orders that call for immediately expanding American lumber production and addressing lumber imports' threat to national security. The orders aim to update guidance on production, streamline permitting, and assess possible risks that imports pose to national security. A White House official told Fox News the president identified a crisis in both supply and demand in an industry the U.S. should be entirely self-sufficient in. The executive order notes that the production of timber, lumber, paper, bioenergy, and other wood products is crucial for Americans in construction and energy production. MEXICO, CANADA TARIFFS WILL BE IMPLEMENTED DUE TO 'UNACCEPTABLE' DRUG FLOW, TRUMP SAYS Recent disasters, the administration pointed out, show the importance of forest management and wildfire risk-reduction projects. Officials alleged that the Biden-era timber and lumber policies triggered wildfires and degraded fish and wildlife habitats, while driving up construction and housing costs. Exporters like Canada, Germany and Brazil dump lumber into U.S. markets at the expense of economic prosperity and national security, officials said. A White House official said U.S. reliance on imports from these countries has increased elevenfold over the past 30 years despite the U.S. having an abundance of forest resources. TRUMP SAYS HE WILL INTRODUCE 25% TARIFFS ON AUTOS, PHARMACEUTICALS AND CHIPS Agency heads will be asked to improve the speed of approving forestry projects, assess future supply, and reduce administrative approval time. Trump's directive orders Commerce Secretary Howard Lutnick to initiate a national security investigation into U.S. lumber imports under Section 232 of the Trade Expansion Act of 1962 - the same law that Trump also used to impose tariffs on global steel and aluminum imports. The investigation must be completed within 270 days. CLICK HERE TO GET FOX BUSINESS ON THE GO The official said any tariffs resulting from the probe would be added to the existing 14.5% combined anti-dumping and anti-subsidy duties on Canadian softwood lumber. Reuters contributed to this report. via: https://www.foxbusiness.com/politics/trump-issues-executive-orders-addressing-lumber-production-national-security-concerns

Baby No. 14: Neuralink Director Shivon Zilis, Elon Musk welcome fourth child together

Posted by radio1n1 — Sat, 1 Mar 2025 21:39 GMT

Tech executives Elon Musk and Shivon Zilis recently announced on X that they welcomed their fourth child together. "Discussed with Elon and, in light of beautiful Arcadia's birthday, we felt it was better to also just share directly about our wonderful and incredible son Seldon Lycurgus," Zilis wrote in a post Friday on X. Zilis described Seldon as being "built like a juggernaut, with a solid heart of gold." ASHLEY ST. CLAIR FILES PATERNITY LAWSUIT AGAINST ELON MUSK SEEKING FULL CUSTODY OF 5-MONTH-OLD BABY "Love him so much," she wrote in the post. Musk commented with a heart in reaction, but did not provide any further details. It is unknown when the child was born. ELON MUSK SLAMS 'MEAN' PODCAST HOSTS FOR CALLING DOGE EMPLOYEES 'ARROGANT LITTLE PR---S' AMONG OTHER THINGS Musk and Zilis share three other children, yet only twins Strider and Azure have been publicly named. The pair reportedly conceived the twins via in vitro fertilization and did not have a romantic relationship, Reuters reported. At the time, Musk tweeted, "Doing my best to help the underpopulation crisis. A collapsing birth rate is the biggest danger civilization faces by far." Zilis, director of Neuralink, previously worked for Tesla and OpenAI. Neuralink, co-founded by Musk, is developing computer interfaces that help people with neurological conditions translate their thoughts into action, Fox News Digital previously reported. In 2015, Zilis was named one of Forbes' 30 Under 30 venture capitalists. She was also named to LinkedIn's 35 Under 35 list. Musk and his first wife, Justine Wilson, have six children. He and his ex-girlfriend, Claire Boucher "Grimes," allegedly share three children. Conservative influencer Ashley St. Clair filed a petition in February to legally recognize Musk as her child's father and seek full custody. St. Clair's child, who has not been publicly named, is allegedly 5 months old. Musk could not be reached by Fox News Digital for comment. GET FOX BUSINESS ON THE GO BY CLICKING HERE Fox News Digital's Rebecca Rosenberg contributed to this report. via: https://www.foxbusiness.com/business-leaders/baby-14-neuralink-director-shivon-zilis-elon-musk-welcome-fourth-child-together

Thousands of Microsoft customers affected by large-scale outage

Posted by radio1n1 — Sat, 1 Mar 2025 18:46 GMT

Thousands of Microsoft customers were unable to access Outlook, including email, and other services, after Microsoft 365 experienced an outage Saturday afternoon. Shortly after services were restored, at about 4:40 p.m., the company announced it had "identified a potential cause of impact" and reverted the suspected code. MICROSOFT CO-FOUNDER BILL GATES ON DOGE: 'COULD BE A VALUABLE THING' "We're monitoring telemetry to confirm recovery," according to a statement posted on X. Downdetector reported more than 40,000 Microsoft outages Saturday afternoon. Many took to social media to report issues with Outlook email, calendars and other Microsoft 365 applications. BILLIONAIRE BILL GATES DETAILS DINNER THAT LEFT HIM 'IMPRESSED' BY PRESIDENT-ELECT TRUMP GET FOX BUSINESS ON THE GO BY CLICKING HERE Microsoft 365 did not immediately respond to Fox News Digital's request for comment. via: https://www.foxbusiness.com/technology/thousands-microsoft-customers-affected-large-scale-outage

Floyd Mayweather praises Trump as the 'best president' and a 'great businessman'

Posted by radio1n1 — Sat, 1 Mar 2025 12:00 GMT

Boxing legend Floyd Mayweather is known for winning in the ring - but his ventures outside the sport are also seeing huge success. The decorated athlete joined host Charles Payne on 'Making Money' to go in-depth on his many business ventures - including his $400 million-dollar real estate portfolio - while pointing to real estate legend and U.S. President Donald Trump as being a source of inspiration. FIRST-EVER AI REAL ESTATE AGENT GENERATES $100M IN SALES IN PORTUGAL On Instagram, the long-time boxer is now better known for posting images of some of the New York properties that are part of his portfolio - including an Upper Manhattan investment that involved more than 1,000 units, per the NY Post. Mayweather told FOX Business on Wednesday that the value of his portfolio continues to climb. "The numbers are growing each and every day," he said. "And I am truly, truly blessed." He also spoke with host Payne about the presidency of Donald Trump, who built his own fame on real estate investments. "Trump is a great president," he said. "He's the best president in my eyes, a great businessman. And that's what it's about." BOZEMAN, MONTANA HOME TO A BOOMING REAL ESTATE MARKET In addition to his real estate ventures, Mayweather discussed his supplement brand, '101.' The brand offers products that aid pre-workout routines and give users extra boosts of protein. "The thing about the products is we're clean, and I say clean, very clean products," he said. "We had to do a lot of research." According to Mayweather, other supplements featured in the '101' line include vegetable and rehydration variants. AUDREY HEPBURN'S SWISS VILLA HITS MARKET FOR WHOPPING $21 MILLION For all of his business and philanthropic ventures, Mayweather stressed the impact that his father had on his success - both within the world of boxing, and outside of it. "I wouldn't be where I'm at today if it wasn't for my father," he said. "Hell of a trainer-great guy, great person." Mayweather also credited his team with helping him achieve the success he's found as a businessman. "I have a great team," Mayweather said. "I wasn't the only one who was smart; I chose smart people to be around me." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/floyd-mayweather-praises-trump-being-best-president-great-businessman

Is a Florida condo crisis brewing? Developers claim rising costs are necessary to prevent disaster

Posted by radio1n1 — Sat, 1 Mar 2025 09:01 GMT

High-rise condominium owners along the sunny and serene Florida coastlines are facing a costly reality, but prominent developers in the state argue surges in HOA fees and maintenance reserves are necessary to prevent a future tragedy. "A lot of people have seen their maintenances double. They've seen some of the assessments become extremely unaffordable. It's definitely impacted many residents here in Florida," Gutman Development Marketing President Phil Gutman told Fox News Digital. "There is a conflict, and the conflict is a bit complicated, and it's a bit complex because you have three competing issues. One, you have the issue of safety. Two, you have older buildings," Ian Bruce Eichner, The Continuum Company founder, also told Digital. "The last issue that comes from [the Condo 3.0 law] is a requirement that unless the condominium's declaration, what the original offering said 50 years ago provides otherwise, you need 90% of the residents to agree to terminate the condominium." "We have the state, cities, city officials, code enforcement, city managers more involved in buildings. I think it's important to prevent the next disaster, God forbid, the next catastrophe. Let's not forget that there [are] thousands of old buildings, and thank God we didn't see any other catastrophe except the Surfside building," BH Group CEO and founder Isaac Toledano added. IS ELON MUSK WARMING UP TO A SOUTH FLORIDA MOVE? REAL ESTATE INSIDERS SAY 'REASONS ARE ENDLESS' "I think the fact that you have more inspections, more regulations, I think it's good for everybody and for everybody's safety." The higher condo fees are a result of the state's "Condo 3.0" bill, passed by Florida Gov. Ron DeSantis in early 2024, less than three years after the Champlain Towers collapse in Surfside. The new bill dictates a new set of reforms, including how a building is maintained to how condo associations are governed. The oldest buildings and their residents are likely to see the most costly impending assessments. "Any rational person has to be supportive of the legislation because it goes to the issue of safety. So while it may have a financial burden, we have an obligation - the state, the city, everybody has an obligation to keep people safe," Eichner said. "So there's no question that the law is something that, unfortunately, was a consequence of an event, but certainly it's something everyone supports." According to recent data from Redfin, multiple Florida cities on the east and west coasts have year-over-year double-digit increases on condo fees. Tampa saw the sharpest rise at 16.7%; Fort Lauderdale had a 16.2% increase; the average median condo cost in Miami is $835 per month; and Key West has the highest median HOA fee at $1,063. In some high-demand markets like Miami, unit owners at the 16-year-old 1060 Brickell Avenue building are required to split $21 million in special assessments after the board of directors reportedly identified areas of damage. Many condo buildings that are 40 to 60 years old are more likely to be demolished and rebuilt as newer, luxury real estate projects, according to the developers. "I think we're going to see more and more of this transaction of prime real estate, older product getting replaced with the new product," Toledano noted. C.E.O. SAYS TRUMP WIN BRINGS NEWFOUND OPTIMISM TO U.S. REAL ESTATE: 'MOMENTUM IS ABOUT TO CHANGE BIG TIME' "The shift that we see in the market is the appetite of older product, older units, many other owners willing to work with the developers, and they understand that if you live in a three-story building that was built in the 1960s, this building will probably have some serious assessments, a lot of improvements, and sometimes it doesn't make any sense to go and replace the roof, the electrical, the mechanical, something that will cost millions of dollars," the BH Group lead also said. "[You're] better off [to] sell the unit." "Some of these buildings that are 50, 60 years old that really can't be fixed anymore. Those buildings do need to come down," Gutman explained. "If somebody has an apartment there that was worth $300,000 in the open market, and we come in at $750 [to] $800,000, I believe those people are in a much better position than they were, to be quite honest with you. But people will have to find possibly another area to live in, something that's more affordable, something that's newer, something that's safer." While state lawmakers argue the Condo 3.0 law will improve the longevity and quality of high-rise buildings, there are fears that luxury mixed-use developers strip residents of deciding powers, add costly fees and price them out of their long-term homes - especially for retired or fixed-income owners. Gov. DeSantis' office did not respond to Fox News Digital's request for comment. Eichner posed an example: "You have a building that is 62 years old, has $12 million in deferred maintenance, has a population of 20 or 25% of the building that's retired, and that 20 or 25% either doesn't want to move, doesn't have the resources to move, need help to move." "So what you have is building after building facing assessments that they really can't afford. They do not have the will, i.e. the 90% that can require a termination, and so they sit now in this 'Never-Never Land' in which they attempt to have some partial assessment, deferred assessment. Where is this going to go? I don't know," Eichner continued. "But for sure, there are hundreds of buildings that are in this situation as we wind our way out of year one of the post-assessment requirement. I suspect that this is going to be a real issue in 2025, 2026." In February, new leaders in the Florida legislature said their next sessions will include potential changes to condo laws, but will not involve talks around direct financial assistance for condo owners. The three developers insist they're here to help those concerned residents. "I think that after all, developer or not, we're all human being[s]. And if the stronger person can help the weaker person, or the smarter person can help the person with less knowledge or less experience, I think this is something that it's good to see, and we should all help each other if we can," Toledano said. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We don't go in to try to take over buildings and don't prefer a hostile environment. When we approach a building, we approach it and we move forward because everybody in the building wants to sell. And they don't want the assessments, they don't want the hiked-up maintenance fees," Gutman chimed in. "That's just our approach. We're not fighters, we're trying to help." "Part of the offer that we made was, to the extent that you are interested, we will help move you. To the extent that you're not sure where you want to go, we will recommend some brokers to work with you," Eichner said. "So it's an attempt to have a more holistic, full-service approach rather than simply say: We're offering you 'x' million dollars for your apartment, and that's that, thank you, goodbye." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/florida-condo-crisis-brewing-developers-claim-rising-costs-necessary-prevent-disaster

David Spade's former Malibu home up for rent at $59K a month

Posted by radio1n1 — Sat, 1 Mar 2025 08:01 GMT

David Spade's former Malibu home is looking for a new resident. The latest owner of the oceanfront home, Fashion Nova CEO Richard Saghian, has made the home available for rent, at $59,000 a month, in partnership with listing agents Branden and Rayni Williams with The Beverly Hills Estates. Situated right on the shore of La Costa Beach, Spade originally sold the home to Netflix co-CEO Ted Sarandos and his wife Nicole Avant in 2013 for around $10 million, according to The Robb Report. Sarandos and his wife would go on to sell the 3,763-square-foot home to Saghian in 2021 for $14.7 million. DAVID SPADE TALKS ABOUT THE DANGERS OF CANCEL CULTURE FOR COMEDIANS: 'I HOPE COMICS ARE ALLOWED TO BE COMICS' A two-car garage and a walled-off gated entry open up into a brick courtyard decorated with a Buddha statue and bougainvillea-lined walls. The courtyard separating the house from the garage also features a dark-bottom plunge pool as well as multiple shaded seating areas. A key feature of the courtyard is an indoor cabana separated from the house, which boasts a seated bar. Once inside, guests will find themselves immersed in the home's open floor plan, with large windows in every room in the house, which not only provide natural light, but also picturesque views of the ocean. The fully furnished living room features dark hardwood flooring, a wood-burning fireplace with a mirror placed over the mantle. In addition, it has brown and cream furniture and coffee and end tables crafted out of wood, all of which sit atop a large Persian rug. Just steps away from the living room is the formal dining area. The dining room boasts a large table big enough for 10 guests and is surrounded by four French doors leading out onto the back porch, which has direct access to the beach. Connected to the dining room is the spacious kitchen, which features many sought-after features, including a double oven and extra stovetops with a white stone backsplash and a farmhouse sink beneath a window. In addition, the kitchen has dark cabinets and countertops with a bar that can be used as a more casual dining space. It also boasts built-in shelving which provides extra storage space in addition to the many cabinets. Behind the living room lies a more casual family room, featuring a second fireplace with a large flat-screen TV hanging on the wall above, as well as big windows and direct access to an outdoor dining and living area. The room also features a more casual dining area, as well as built-in bookshelves and unique light fixtures throughout. In addition to access to the backyard, the room also boasts French doors leading out to the brick courtyard in front. One of the main highlights of the home is the luxurious primary bedroom. Found on the second floor, the primary bedroom boasts a third wood-burning fireplace as well as a unique circular beamed ceiling with a medieval-looking light fixture. What makes the primary bedroom extra special is the private balcony which looks out onto the ocean. Another enviable feature of the primary bedroom is an attached dual-level private den and office area, which has dark hardwood flooring, a desk and a large flat-screen television. The back wall is covered with windows, which bring plenty of natural light into the room. Also connected to the primary bedroom is a luxurious ensuite bathroom, which has a large soaking tub situated in front of a wall of windows, as well as a large vanity with his and her sinks. CLICK HERE TO READ MORE ON FOX BUSINESS Elsewhere in the home are three additional bedrooms, one with direct views of the ocean and access to an outdoor lounging area and another with access to the courtyard and pool in the front. In addition to having outdoor seating in the courtyard in front of the home, there is also seating space on the backyard patio. Just outside the family room is an outdoor dining area enclosed in a gazebo-type structure with two walls constructed of glass and left open on the other sides. The dining area features dark tiled floors with a circular table big enough for six guests. On the rest of the patio, guests will find multiple areas for lounging, as well as a barbecue. A staircase leading down from the patio descends to 60 feet of shoreline on the beach. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/fox-news-entertainment/david-spades-former-malibu-home-up-rent-59000-month

Under Armour CEO selling $22 million Maryland horse farm

Posted by radio1n1 — Sat, 1 Mar 2025 08:00 GMT

The CEO of the sportswear company Under Armour is looking to part ways with the sprawling horse farm he owns in Maryland. Real estate firm Compass announced earlier this week that the 400-acre property was going up for sale, calling it "one of Maryland's most iconic equestrian estates." The estate, called Sagamore Farm, carries a $22 million price tag. Kevin Plank, who founded Under Armour, has owned the farm since the late 2000s, according to The Wall Street Journal, which first reported the news. WYOMING 'LITTLE YELLOWSTONE' RANCH UP FOR SALE FOR $85 MILLION It is nestled in the countryside near Reisterstown. Sagamore Farm features horse racing facilities "designed for excellence and versatility," a massive main home and living quarters for staff and jockeys on its grounds, according to its listing with Compass agent Denie Dulin. The main residence on the farm sprawls 16,000 square feet. Inside the home, there are seven "oversized" en-suite bedrooms, its listing said. Including the en-suites, it boasts 9.5 bathrooms total. The listing described the multi-story home as being "designed for both elegant entertaining and luxurious everyday living," replete with "expansive living spaces." It includes a library and conference room, among other spaces, according to a press release. GET FOX BUSINESS ON THE GO BY CLICKING HERE Compass' listing said the farm "stands as a premier breeding and training ground for the thoroughbred racing industry." There is a "state-of-the-art" Tapeta synthetic racing track, three "fully renovated" barns and a slew of paddocks for horses. One of the barns currently serves as a "whisky barn," according to the press release. A clocker's tower overlooking Sagamore Farm's track was built at Plank's instruction, The Journal reported. The Under Armour CEO told The Journal the land and various work and improvements he had done on the historic farm cost over $22 million. Sagamore Farm wound down its horse racing operations several years ago, according to the outlet. The farm has long-time ties to the horse racing industry. Some famous racehorses with links to it include Native Dancer, Discovery and Bed o' Roses. Plank's attention to Under Armour and his children being adults contributed to his decision to put the property on the market, The Journal reported. YOU CAN BE A NEIGHBOR TO DONALD TRUMP IN PALM BEACH FOR $15 MILLION "Sagamore isn't just an iconic Maryland farm; it's a living testament to American greatness," Plank said in a statement. "Restoring Sagamore Farm to its former glory has been one of the greatest joys in my life, but now it's time for the next steward to carry the torch and continue its legacy for generations to come." He created Under Armour in the 90s. The company has generated $3.98 billion in net revenues over the first three quarters of fiscal 2025 and brought in $5.7 billion over the entirety of fiscal 2024. Under Armour has helped Plank amass a personal fortune of $1.1 billion, according to Forbes. via: https://www.foxbusiness.com/real-estate/under-armour-ceo-selling-22-million-maryland-horse-farm

Nicollette Sheridan's LA home on the market for $12.9 million

Posted by radio1n1 — Sat, 1 Mar 2025 08:00 GMT

Nicollette Sheridan's California home is now available for purchase. Originally built in 1978, Sheridan reportedly purchased the home in 2008 and has lived there happily for over a decade. She first placed the home for sale in 2023 at $16 million, but later removed the listing. It is now on the market for $12.9 million, in partnership with agent Shen Schulz of Sotheby's International Realty. "My home, that I reimagined from tip-to-toe, has been filled with love, laughter, and the knowingness that anything is possible," Sheridan said in a statement. "It is a hideaway that connects one to nature, serenity, and creativity. As much as I love my home, it is time for us to move on. The undeniable reason behind selling is my horses." She continued, "They are getting older and deserve to live in heaven on earth and frolic to their heart's content. We will be moving to a farm that allows us the freedom of green pastures and many more furry and feathery friends to accompany us on our new adventures. We leave Hidden Hills with the fondest of memories. I know that the magic and beautiful energy of this special home and land is now meant for someone else to enjoy." 'DESPERATE HOUSEWIVES' CREATOR ADMITS TO HITTING NICOLLETTE SHERIDAN, DESCRIBES IT AS ARTISTIC 'TAP' Located in the exclusive gated community of Hidden Hills, the 7,500-square-foot home sits on 3.56 acres of property, and residents have access to many hiking and equestrian trails found within the community. They also have access to the stunning mountain views surrounding them. Found at the end of a long sprawling driveway lined with trees and large grass fields is the ivy-covered French-style home, boasting an impressive six bedrooms and six and a half bathrooms. Upon entry, guests will be greeted with a grand dual-level foyer with a staircase leading to the second floor as well as a long hanging chandelier, tiled floors and exposed wooden beams on the ceiling. The wainscoting on the walls adds a unique element to the home's entry. The home then opens up into the spacious formal living room, which boasts exposed wooden beams and a grand wood-burning fireplace, as well as big windows bringing in plenty of natural light and glass French doors on either side of the room providing access to the sprawling estate. Near the living room is the exquisite formal dining room, which boasts yet another set of glass French doors leading to the backyard, as well as enough space for a table suitable for 10 guests. The room features wainscoting on the walls, with two circular mirrors with gold borders hanging on the far wall, as well as a chandelier hanging above the dining room table from the wooden beams on the ceiling. One of the key highlights of the home is the gourmet kitchen, which features many top-of-the-line appliances, including three ovens, a Sub Zero refrigerator and a farmhouse sink, which is located under a large window with views of the green scenery outside. Additional features include white quartz countertops, white wood cabinets, French oak hardwood floors and a white quartz backslash above the counters and ovens. The room also boasts a large center island which provides extra counter space and an additional sink. Just steps away from the center island is a breakfast nook with a circular table situated in the center of a bench underneath a wall of windows. Connected to the kitchen is the spacious family room, which provides the perfect space to spend time with loved ones. The room features dark hardwood flooring, a sizable sectional sofa and a large flat-screen TV. Behind the sofa is a fully stocked wet bar with built-in shelving and barstools for additional seating. Also, on the main level there is a dedicated office space. The room features wood-paneled walls, with built-in bookshelves and a grand table in the center. A unique chandelier hangs above the table from the exposed wooden beams on the ceiling. The room also features dark hardwood flooring and access to the backyard. Closing out the main floor of the home is the spacious primary bedroom, which features shuttered windows and glass French doors leading out to the pool. The room also features the home's third wood-burning fireplace, big windows which bring in natural light, and a flat-screen television. Attached to the primary bedroom is the luxurious ensuite bathroom, which features multiple vanities, a soaking tub and a large stand-up shower. A large walk-in closet is also an enviable feature of the primary bedroom. Elsewhere, the home's remaining five bedrooms are found throughout the house, each with its own unique appearance. While different from each other, all the bedrooms boast exposed wood-beamed ceilings and large windows with views of the surrounding landscape. In addition, a majority of the remaining bedrooms have their own bathrooms. Also found in the home is a guest suite, which can be accessed through its own private staircase. The room boasts built-in bookshelves, a skylight and hardwood floors. The far side of the room features a semi-separated area which currently houses a casual dining area located under a big window with views of the outside. CLICK HERE TO READ MORE ON FOX BUSINESS The home's many amenities also include a gym and a sauna, the latter of which is found in the primary bedroom. As beautiful as the home is on the inside, it is just as beautiful on the outside, with sprawling grass fields in all directions. The fields are lined with tall trees, one of which has a swing hanging from its branches. One of the key highlights of the home is the sizable swimming pool found on the grounds outside, with a raised hot tub connected to it, with a waterfall flowing from the tub into the pool. Surrounding the swimming pool are lounge chairs and umbrellas, which give visitors the feeling they are staying in a resort. Just steps away from the swimming pool is an outdoor kitchen featuring a barbecue and pizza oven, as well as seating. Also found on the grounds is a tennis court, perfect for nailing your serve. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/fox-news-entertainment/nicollette-sheridans-la-home-market-12-9-million

Why gold prices could hit $3,000 despite volatility

Posted by radio1n1 — Sat, 1 Mar 2025 07:01 GMT

Gold prices likely won't lose their shine, even after a 40%-plus run over the last 12 months. The SPDR Gold shares, or GLD, the largest exchange-traded fund backed by physical gold, saw the largest one-day inflow ever of $1.9 billion on Feb. 21, 2024. "We believe the demand is across the board. We see institutions either adding to or establishing long term strategic asset allocation type positions. We see individual investors doing the same. We see a certain amount of FOMO. There's a fear of missing out whenever the price gains momentum to the upside" George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, told FOX Business. He highlights three longer-term growth drivers aligning for more gold gains this year. WHY BANKS ARE FLYING GOLD BARS FROM LONDON TO NEW YORK "We have continued very strong central bank buying for official reserves. This has been a feature of the last 15 years at the gold market, and it's been very important, ranging anywhere from 10% to 25% of total end-user demand in any given year. And I think that's very important support for the price whenever it's shown any sign of weakening", Milling-Stanley explained. "Central bank buying basically doubled in 2022 to more than 1000 metric tons," he added. TRUMP BACKS TOUR OF FORT KNOW TO CHECK ON GOLD "Additionally, we've seen a big increase in investment in the emerging markets and especially China, but in India and elsewhere over the last year, year and a half, toward the end of last year, that was joined by a big increase in emerging market jewelry demand as well, again, across the emerging markets" he added. "We've seen a revival in investment in gold in the Western world, in Western Europe and North America, I think mostly because of concerns about the outlook for the US economy and for the European economies, for that matter." Gold has pulled back from its record $2,947 an ounce; still Milling-Stanley is forecasting the yellow metal could trade between $2,900-$3,100 later this year. Inflation remains a wildcard. The consumer price index in January rose 3%, more than expected. Prices remain elevated for items like eggs, beef and transportation. GET FOX BUSINESS ON THE GO BY CLICKING HERE On Friday, the Federal Reserve's preferred inflation measure rose in January, on an annual basis, 2.5%, with the core PCE up 2.5%. Both were in line with analyst expectations. via: https://www.foxbusiness.com/markets/why-gold-prices-could-hit-3000-despite-volatility

Trump slated to host Crypto Summit at White House

Posted by radio1n1 — Sat, 1 Mar 2025 05:23 GMT

President Donald Trump is scheduled to host an event on cryptocurrency at the White House next week. The Crypto Summit will be held on Friday, marking the first-ever White House event of its kind. Trump is expected to deliver remarks during the summit, the White House said. TRUMP SAYS HE'S TERMINATING CHEVRON'S VENEZUELA OIL AGREEMENT The event will include "prominent founders, CEOs, and investors from the crypto industry, as well as members of the president's Working Group on Digital Assets," according to the White House. The summit will be led by venture capitalist and White House AI and crypto czar David Sacks and will be administered by the working group's executive director, Bo Hines. This comes after Trump signed an executive order in January to establish the working group, which consists of officials from various federal agencies to advise the White House on policy surrounding digital assets. The working group includes officials from the departments of Treasury, Justice, Commerce and Homeland Security, as well as the Office of Management and Budget, Securities & Exchange Commission and the Commodity Futures Trading Commission, among others. During his 2024 campaign, Trump vowed to streamline regulations, support a stablecoin framework and establish a Bitcoin stockpile, according to Bloomberg News. TRUMP ADMIN IRS CUTS 'DON'T ADD UP,' FORMER COMMISSIONERS WRITE IN OP-ED GET FOX BUSINESS ON THE GO BY CLICKING HERE Trump has not yet fulfilled all of those promises, but his administration's policies and the summit signal a significant change from the Biden administration's tough regulatory approach, Bloomberg News reported. The president, who previously criticized cryptocurrency as a "scam," even introduced a memecoin shortly before he returned to office in January. via: https://www.foxbusiness.com/politics/trump-slated-host-crypto-summit-white-house

Mark Zuckerberg channels musician Benson Boone during wife's birthday bash

Posted by radio1n1 — Fri, 28 Feb 2025 16:16 GMT

Mark Zuckerberg appeared to channel musician Bensen Boone while celebrating wife Priscilla Chan's birthday. The CEO of Meta Platforms on Friday shared a video on Instagram of himself taking the stage at a party for Chan's 40th birthday in a tuxedo and then ripping it off to reveal a light blue, sparkly jumpsuit. In the video, a jumpsuit-clad Zuckerberg jumped onto a piano with a microphone in hand. He also moved around the stage, seemingly singing and drawing laughter from his wife. CLICK HERE TO SEE POST "Your wife only turns 40 once! Shoutout to @bensonboone for the jumpsuit and new single," the Meta Platforms CEO wrote in the caption of the post. META CEO MARK ZUCKERBERG SAYS 'EVERYTHING I SAY LEAKS' FROM INTERAL MEETINGS: 'IT SUCKS' Boone donned a blue jumpsuit during his recent performance of the song "Beautiful Things" at Grammy's earlier in the month. He had been nominated for Best New Artist, an award that ended up going to Chappell Roan. The song "Sorry I'm Here for Someone Else," newly released by Boone, played over the video in Zuckerberg's Instagram post. FACEBOOK OWNER INVESTING UP TO $65 BILLION TOWARD AI IN 2025 Boone told the Meta CEO that "you're wild for this" in an Instagram Story. The 40th birthday bash for Chan happened over the weekend, People reported. SEE META CEO MARK ZUCKERBERG'S BRAND NEW 287-FOOT SUPERYACHT Zuckerberg and Chan have been married for over 12 years. She wrote in a social media post of her own that she had "turned forty surrounded by family, friends, laughter and dance." "I am so lucky to be so loved," she added. via: https://www.foxbusiness.com/lifestyle/mark-zuckerberg-channels-musician-benson-boone-during-wifes-birthday-bash

Gene Hackman's acting career spanned four decades: What was his net worth?

Posted by radio1n1 — Fri, 28 Feb 2025 15:59 GMT

Gene Hackman and wife Betsy Arakawa were discovered deceased earlier this week in their Santa Fe, New Mexico, home. The actor, 95 years old at the time of his death, spent decades working in the movie industry from the 1960s to the early 2000s, helping him achieve an $80 million net worth, according to Celebrity Net Worth. Some of his most well-known movies include "The French Connection" and "Unforgiven" released in 1971 and 1992, respectively. He earned an Oscar for best actor for the former and one for best supporting actor for the latter. Hackman pulled in $100,000 from "The French Connection," Celebrity Net Worth reported. GENE HACKMAN AND WIFE'S DEATHS CALLED 'SUSPICIOUS,' BODIES SHOWED SIGNS OF 'MUMMIFICATION' He saw seven-figure earnings from a few other films, with "The Quick and the Dead" and "Lucky Lady" both generating $1.3 million for him and "Superman" providing $2 million, per the outlet. Hackman acted in television shows and plays, too. The Oscar-winning actor also penned a handful of novels, two of which he authored by himself. Those books, "Payback at Morning Peak" and "Pursuit," came out in 2011 and 2013, respectively, according to USA Today. GENE HACKMAN, WIFE FOUND DEAD AT SANTA FE ESTATE: WHAT TO KNOW ABOUT THE PROPERTY He teamed up with Daniel Lenihan on three other fiction books, the outlet reported. Multiple Hollywood stars have expressed sorrow in the wake of Hackman and Arakawa's deaths. His wife, a classical pianist, was 64. "The loss of a great artist, always cause for both mourning and celebration: Gene Hackman a great actor, inspiring and magnificent in his work and complexity," Francis Ford Coppola said on social media. "I mourn his loss, and celebrate his existence and contribution." "There was no finer actor than Gene," Clint Eastwood told Variety. "Intense and instinctive. Never a false note. He was also a dear friend whom I miss very much." Antonio Banderas called their deaths a "very sad day for cinema's family." GENE HACKMAN MOURNED BY HOLLYWOOD: BILL MURRAY REMEMBERS 'TOUGH NUT' ACTOR WHO MADE GREAT MOVIES "My deepest condolences to friends, family and cinema lovers. RIP," he said on social media. The couple, found Wednesday, had been dead in their Santa Fe home for some time, with authorities locating Hackman in a mudroom and Arakawa in a bathroom, Fox News Digital reported. Hackman had owned the 12-acre property in the Hyde Park area near Santa Fe since the '80s, according to Realtor.com. Celebrity Net Worth reported that the estate "likely" had a value of $8 million to $10 million. Other reports have pegged it at $3.8 million. Hackman owned numerous homes over the years, Realtor.com reported. Authorities are continuing to investigate the deaths of Hackman and Arakawa. GENE HACKMAN, WIFE COULD HAVE BEEN DEAD FOR WEEKS, PILLS FOUND ON SCENE ARE 'SOMETHING OF CONCERN': POLICE Santa Fe County Sheriff Adam Mendoza told the "Today" show that he was "pretty confident there is no foul play, just based on the lack of evidence of foul play" but was "not ruling that out." "The autopsy results, the official results will steer us in the right direction," he said. "That could change, obviously, and we're not ruling that out. This is an open investigation. It's a couple [of] days old. We're putting together the timeline, we're trying to figure out all the evidence ... the autopsy is key, and that's going to take some time." Fox News Digital's Stephanie Giang-Paunon, Christina Shaw and Lauryn Overhultz contributed to this report. via: https://www.foxbusiness.com/entertainment/gene-hackmans-acting-career-spanned-four-decades-what-his-net-worth

NBC Digital union reaches contract deal with leadership

Posted by radio1n1 — Fri, 28 Feb 2025 15:01 GMT

The NBC Digital union reached a tentative contract agreement with leadership after years of bargaining with the company. Unionized editorial staff represented by The NewsGuild of NY at NBC News, NBC News NOW and TODAY reached a tentative contract agreement with the network on Friday. The deal protects members during future corporate restructuring and delays last month's announced layoffs, which were strongly condemned by union staffers who said the action was illegal as they were amidst negotiations for a first contract. The contract also provides targeted workers with additional pay, health care and rehire rights. NBC Digital NewsGuild, which represents about 300 workers, will vote to ratify the agreement in the coming days and, if it is approved, it will be the first contract for the bargaining unit since it was certified in 2019. NEW YORK TIMES TECH EMPLOYEES REMAIN ON STRIKE, GUILD TARGETS HIGH-PAID CEO MEREDITH KOPIT "This contract is a huge step forward for journalists at NBC News," Tate James, documentary video editor and unit chair, said in a press release announcing the news. "We will now have the job security essential to fighting for transparency and accountability without fear." Fox News Digital reached out to NBC News for comment. The NBC Digital NewsGuild represents almost 300 reporters, editors, designers, video journalists, animators, social media strategists and editorial staff, who have been negotiating its first contract since 2019. Any changes to members' working conditions during negotiations, including layoffs, must be bargained back and forth under federal labor law, the union said. The contract is the culmination of a nearly 5-year fight, during which employees engaged in numerous public actions, including a 1-day strike in 2023. LIBERAL PUNDITS DUB WASHINGTON POST'S LATEST OPINION SHAKE-UP A 'TERRIBLE TRAGEDY,' SLAM JEFF BEZOS During ongoing negotiations in November 2024, NBC's digital employee union projected scathing messages onto 30 Rock, blasting company leadership for dragging its feet on a contract. The projections called out executives for alleged "unlawful behavior" by lighting up "breaking news" messages on the company's flagship building in midtown Manhattan. Additionally, in 2021, the National Labor Relations Board found that NBC had unlawfully withheld more than $350,000 in raises from union journalists, according to a press release previously shared with Fox News Digital. The agreement also includes just cause and increased transparency, including eliminating forced arbitration in discrimination and harassment cases, immediate pay increases of as much as 17% with 9% minimum over the life of the 3-year deal, salary minimums with a floor of $65,000 by the last year of the agreement and extended workday and weekend pay policies that provide compensation for extra work. FAILED NEGOTIATIONS RESULTED IN UNION MEMBERS WALKING OUT ON THE JOB AT NEWS OUTLETS IN 2024 "NYGuild members contribute to the reach and value of NBC News every day," Susan DeCarava, president of The NewsGuild of New York, said. "I'm glad that NBC is finally recognizing their essential work by agreeing to a contract that enshrines the wages and workplace protections they deserve." The NewsGuild of New York, Local 31003 of the Communications Workers of America, is a labor union representing nearly 6,000 media professionals and other employees at New York-area news organizations, including The New York Times, The New Yorker, Thomson Reuters and ProPublica. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/media/nbc-digital-union-reaches-contract-deal-leadership

Google has officially begun unwinding DEI programs: source

Posted by radio1n1 — Fri, 28 Feb 2025 15:00 GMT

Google officially began the process of unwinding the company's Diversity, Equity and Inclusion (DEI) programs on Friday, a source familiar with the company's decision-making told Fox News Digital. The tech giant announced in a February company memo that they were discontinuing their diversity goals of hiring more employees from "underrepresented groups," and was analyzing whether their other initiatives were in compliance with President Donald Trump's executive orders targeting DEI in the public and private sector. Google is now ending their "equity and inclusion employee trainings that the company previously conducted," per the source. GOOGLE DROPS DIVERSITY HIRING TARGETS, REVIEWING DEI POLICIES: REPORT At a Feb. 12 all-staff meeting, Google's former Head of Diversity Melonie Parker, who now serves as vice president of Google engagement according to her LinkedIn profile, told employees the company was "updating" their training programs that contain "DEI content," The Guardian reported. "What's not changing is we've always hired the best person for the job," Parker reportedly said at the meeting. Google CEO Sundar Pichai also reportedly told employees that the company has always "deeply cared" about hiring a diverse workforce, but needed to change their policies to be in accordance with Trump's executive orders. "Our values are enduring, but we have to comply with legal directions depending on how they evolve," Pichai said.. META ENDS CORPORATE DEI PROGRAMS Trump signed executive orders banning DEI from the federal government, and mandating that all federal contractors certify that they don't promote DEI upon taking office. Pichai's comments represent a bit of an about-face on the subject of DEI. In 2020, he announced that the company would seek to increase the "leadership representation of underrepresented groups" by 30% by 2025. "Listening to the personal accounts of members of our Black Advisory Leadership Group and our Black+ Googlers has only reinforced for me the reality our Black communities face: one where systemic racism permeates every aspect of life, from interactions with law enforcement, to access to housing and capital, to health care, education, and the workplace," Pichai wrote in a memo at the time. Google joins a growing list of companies that are changing their tune on DEI programs. GET FOX BUSINESS ON THE GO BY CLICKING HERE Meta announced that it was dropping its DEI initiatives in January and added UFC boss Dana White to the company's board. Amazon told employees in December that it would be "evaluat[ing] [the] effectiveness" of its DEI programs. via: https://www.foxbusiness.com/media/google-has-officially-begun-unwinding-dei-programs-source

Portnoy calls out Elon Musk for running DOGE while Tesla stock drops, says shareholders 'entitled to

Posted by radio1n1 — Fri, 28 Feb 2025 14:35 GMT

While discussing Elon Musk's role in the Department of Government Efficiency (DOGE), Barstool Sports founder Dave Portnoy revealed he was asked to join the Trump administration's Department of Commerce - under a certain condition. "They said a condition would be I can't run Barstool Sports. Do you have somebody who could run it? Now, I don't know if it was serious if I said yes, but if you're running a company, it's tough to also run the government it would seem," Portnoy said during "Varney & Co." on Friday. Portnoy praised Tesla CEO Elon Musk's efforts to rid the government of wasteful spending through DOGE, but questioned just how present Musk can be in running his company as his government efforts dominate headlines nationwide. Tesla stock surged after Trump returned to the White House, but is now on pace for its worst month on record. "I'm a big stockholder of Tesla and I certainly raise my eyebrows," Portnoy said. "I like DOGE, I like what they're doing. But let me tell you this, if you're going to send out, and you got to call it both ways, if you're going to send emails to federal workers and say, 'What have you done for the last five days?' I think Tesla shareholders are entitled to ask their CEO, Elon Musk, 'What have you done for Tesla the last five days?'" "Seemingly all he cares about right now is DOGE. Now, could it be coincidence that the stock is down 25% since he really started this? I guess," he continued. "But I think it's fair, as a shareholder of Tesla, to say, 'What are you doing for Tesla shareholders?' Now maybe you're greasing the wheels, and you'll get some deals through the government. I don't know, but it's certainly in bounds to ask." Musk ignited a firestorm this month when he emailed government employees asking them for five things they accomplished in the previous workweek, or face termination. "Consistent with President @realDonaldTrump's instructions, all federal employees will shortly receive an email requesting to understand what they got done last week," Musk wrote on X on Saturday. "Failure to respond will be taken as a resignation." AMERICA'S WEALTHIEST HOUSEHOLDS DRIVING NEARLY HALF OF CONSUMER SPENDING: MOODY'S He later appeared to walk back the termination threat after backlash, confirming shortly before Monday's deadline that federal workers would be given another chance to respond to the request, and that failure to do so "will result in termination," although the actual OPM email made no mention of any firings. Musk later mentioned at President Donald Trump's first Cabinet meeting that the email was simply a "pulse check." Despite questioning how much Musk is able to lead Tesla while his efforts are focused on DOGE, he commended the administration and said he was "overall happy" with the first 40 days - even despite bitcoin's performance. "I'm confused... on why bitcoin's down. He's the Bitcoin czar. That confuses me," he said. Varney also asked Portnoy whether he is staying out of meme coin. "For now," Portnoy said. "Here's the thing with this world," he continued. "Everyone yells at you, calls you a scammer or a scumbag because people are losing money. For everyone who makes a couple bucks, someone's losing a couple bucks. I got a lot of money. Is it worth my reputation to make another five, ten, 20 million? I don't think so." GET FOX BUSINESS ON THE GO BY CLICKING HERE Fox News Digital's Andrew Mark Miller, Greg Wehner, Emma Colton and Anders Hagstrom contributed to this report. via: https://www.foxbusiness.com/media/portnoy-calls-out-elon-musk-running-doge-while-tesla-stock-drops-says-shareholders-entitled-ask

Mortgage rates hit a two-month low this week, remain under 7%

Posted by radio1n1 — Fri, 28 Feb 2025 12:33 GMT

There's good news for potential homebuyers: mortgage rates continued to trend down this week. In January, rates hit 7.04%, the highest level since last May. This week, however, 30-year rates dropped to 6.76% for fixed-rate mortgages, according to Freddie Mac. "This week, mortgage rates decreased to their lowest level in over two months," Freddie Mac Chief Economist Sam Khater said. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home." Last week, 30-year mortgage rates averaged 6.85%, so this week's drop in rates is somewhat significant. Rates for 15-year mortgages also dropped this week from 6.04% to 5.94% for fixed-rates. If you think you're ready to shop around for a home loan, consider using Credible to help you easily compare interest rates from multiple lenders in minutes. JANUARY INFLATION GIVES FED MORE REASON TO HOLD ON INTEREST RATE CUTS Home prices are dropping in many areas, although they're still not anywhere near pre-pandemic prices. About 23% of sellers cut their listing prices in January, Zillow found. "Homeowners are finally coming back to the market as the effects of rate lock ease over time, but buyers are still struggling with high monthly costs," Zillow Chief Economist Skylar Olsen said. "Sellers are in a good position and are willing to make price cuts to close a deal," Olsen said. "Home equity is near record highs, and the general economy and financial markets are surprisingly strong. Homes are selling faster than they did before the pandemic." Home values are still up 44% compared to before the pandemic, with prices rising 2.6% from last year. Despite high home prices and stubborn buyers, more sellers are putting their homes on the market as the "rate lock" effect is beginning to weaken. New listings rose nearly 12% year-over-year in January. Sellers appear tired of waiting for rates to break and are listing their homes in response to various life events. Zillow found that 78% of sellers were influenced by events like a new job or changing family sizes. Many of these sellers are still getting more than they originally listed their home for. Nearly 25% of homes sold in December of last year sold for more than the original listing price. That's higher than the 19% of homes before the pandemic. If you're looking to purchase a home, Credible can help you find the best mortgage rate for your financial situation. CALIFORNIA'S HOMEOWNERS INSURANCE INDUSTRY FACES ROUGH ROAD AHEAD AS WILDFIRES CONTINUE Despite rising rental costs, renting is still, by-and-large, cheaper than owning a home, according to a Realtor.com report. Pittsburgh and Detroit are the only two metros with lower average listing prices, and they are two of the most affordable cities to buy. The average price in Pittsburgh is $229,700 and is $239,950 in Detroit. Rent is increasing in both these cities, so buying a home may be cheaper in the long run. "For most Americans, owning a home is still a big part of the American Dream, yet the lower monthly costs of renting in all but two of the 50 largest markets are a key consideration," Realtor.com Chief Economist Danielle Hale said. "This relative cost advantage is one of the reasons we expect an increase in renter households and declines in the homeownership rate in 2025." Renting may be cheaper than owning, but rent costs are still high, even though rents are technically falling in general across the country. Rent costs in January 2025 are lower than in 2024 and 2023, but they still exceed rent prices from January 2020 by $257, Realtor.com found. To see if you qualify for a mortgage based on your current credit score and salary, visit Credible, where you can compare multiple mortgage lenders at once. FHFA ANNOUNCES HIGHER MORTGAGE LOAN LIMITS FOR 2025 Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column. via: https://www.foxbusiness.com/personal-finance/mortgage-rates-hit-two-month-low

Target is bringing Warby Parker eyeglass shops to stores

Posted by radio1n1 — Fri, 28 Feb 2025 11:48 GMT

Target is introducing a handful of Warby Parker eyeglass "shop-in-shops" this year. The retailer revealed Thursday that it and the eyeglasses seller are bringing in-store "Warby Parker at Target" shops to five Target locations during the second half of the year. The first so-called "shop-in-shops" are set to appear within five Targets located in Willowbrook, Illinois; Bloomington, Minnesota; Brick, New Jersey; Columbus, Ohio; and Exton, Pennsylvania. They will "offer products and services - including glasses, sunglasses, contacts, eye exams and vision tests - that are consistent with the eyewear brand's current omnichannel experience," Target and Warby Parker said. Warby Parker at Target will also be "discoverable" on Target's website. The two retailers said shoppers can expect to see additional "Warby Parker at Targets" next year "with the opportunity for more in the coming years." GET FOX BUSINESS ON THE GO BY CLICKING HERE Warby Parker co-CEO Dave Gilboa said the eyewear company was "excited to explore an entirely new retail format that brings holistic vision care offerings... to more people around the country." Warby Parker has 276 of its own stores in the U.S. and Canada. It also does business online. Target has done "shop-in-shops" before. TARGET SHARES PLUNGE AFTER LACKLUSTER SALES AHEAD OF HOLIDAY SEASON In 2020, for instance, the retailer inked a partnership with Ulta Beauty to bring "Ulta Beauty at Target" in-store locations to a slew of Targets across the country. The retailer said it aimed to ultimately have 800. Other retailers have also delved into the "stores within stores" concept. Kohl's has a deal with WHP Global, which owns Babies "R" Us, under which the Wisconsin-based retailer began standing up in-store Babies "R" Us shops within stores this past fall. It plans to have 200 total. CLICK HERE TO READ MORE ON FOX BUSINESS Warby Parker was founded in 2010. It has said its mission is to "inspire and impact the world with vision, purpose, and style - without charging a premium for it." via: https://www.foxbusiness.com/retail/target-bringing-warby-parker-eyeglass-shops-stores

US-Ukraine deal specifics: shared revenue from minerals and energy projects

Posted by radio1n1 — Fri, 28 Feb 2025 10:01 GMT

President Donald Trump and Ukrainian President Volodymyr Zelenskyy are set to formalize an agreement on Friday that would see the countries share the proceeds from the development of minerals and energy projects, according to a copy of the document reviewed by FOX Business. FOX Business' Edward Lawrence exclusively obtained a copy of the document that will be formally signed during Zelenskyy's visit to Washington, D.C. on Friday. The deal is structured to give the U.S. a vested interest in Ukraine by creating the opportunity for a return on U.S. taxpayer's investment through the sharing of the proceeds from developing rare earth minerals, as well as energy resources like oil and natural gas and infrastructure projects such as data centers. It would immediately establish a fund that will help facilitate investment in Ukraine from which the U.S. and Ukraine will share the top line revenues, rather than the bottom line, to prevent contractors from padding their expenditures to eat into what would be left over for the two countries. President Trump believes that the deal shows the U.S. commitment to Ukraine's security and serves as a signal to Russia that the U.S. doesn't plan to leave the region. It This is a developing story. Please check back for updates. via: https://www.foxbusiness.com/politics/us-ukraine-deal-specifics-shared-revenue-from-minerals-energy-projects

Inflation gauge favored by Fed showed prices grew as expected in January

Posted by radio1n1 — Fri, 28 Feb 2025 08:33 GMT

The Federal Reserve's preferred inflation gauge showed prices rose as expected in January at a pace that remains above the central bank's target level as its efforts to tamp down inflation continue. The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index was up 0.3% from the prior month and 2.5% on an annual basis. Those figures were in line with the estimates of economists polled by LSEG. Core PCE, which excludes volatile food and energy prices, rose 0.3% for the month and 2.6% from a year ago, in line with estimates. Federal Reserve policymakers are focusing on the PCE headline figure as they try to slow the pace of price increases to their target of 2%, though they view core data as a better indicator of inflation. Headline PCE declined slightly from 2.6% in December, while core PCE dropped from 2.9% last month. Headline PCE showed that prices for goods increased 0.5% in January after they had been relatively flat in recent months. Prices for services rose 0.2% last month, which was a slower pace than the 0.4% in December. Wages and salaries were up 0.4% in January from a month ago, the same as the increase seen in December. The personal savings rate as a percentage of disposable income was 4.6% in January, the highest rate recorded since 4.8% in June. This is a developing story. Please check back for updates. via: https://www.foxbusiness.com/economy/january-2025-pce

BlackRock flips script on DEI policies in company-wide email: 'Announcing several changes'

Posted by radio1n1 — Fri, 28 Feb 2025 08:30 GMT

BlackRock's senior leadership sent a company-wide email on Friday morning explaining its shift away from Diversity, equity, and inclusion policies it previously advocated for as corporations across the country continue to drop DEI. "Delivering for clients requires attracting the best people from across the world," BlackRock CEO Larry Fink said in a memo to employees Friday morning in a letter also signed by the asset management giant's President Robert Kapito and Global Head of Human Resources Caroline Heller. "We are committed to creating a culture that welcomes diverse people and perspectives to foster creative solutions and avoid groupthink. These values have been fundamental to our One BlackRock culture since our founding 37 years ago." The email goes on to discuss the recent number of "significant changes to the U.S. legal and policy environment related to Diversity, Equity and Inclusion (DEI) that apply to many companies, including BlackRock." CONSERVATIVES NOTCH ANOTHER WIN AFTER BLACKROCK KILLS 'NET ZERO' MEMBERSHIP, CLIMATE COMMITMENT "In light of this, we are conducting an ongoing review of our global practices and announcing several changes today," the email states. The top executives explained that they will not be renewing their representation goals in the workforce that expired in 2024, while pointing out that the company will continue "welcoming diverse talent" worldwide without requiring managers to interview a diverse roster of candidates for open positions. The company announced that it is still committed to its core principles that have brought success and that it will be combining its Talent Management and DEI teams to form a new team called the global Talent and Culture team. That team will be co-led by Nick Avery and Michelle Gadsden-Williams. "Our employee networks, which are open to all employees and to which over 90% of employees belong, will continue to serve as important resources for our colleagues," the email explains. 'STRUCTURAL RACISM': TOP TAXPAYER-FUNDED ACADEMY RIFE WITH DEI PROGRAMS, HEFTY EXECUTIVE SALARIES "Last year, we welcomed more than 3,000 new colleagues and we are adding many more in 2025. Our connected and inclusive culture is imperative to achieving our commercial objectives and delivering performance for our clients." The email closes by saying the company will "adapt" as the law changes but the company culture, which is described as their "competitive advantage" will remain "proudly BlackRock" and finished the email by saying, "Our results speak for themselves." The email comes shortly after the Wall Street Journal first reported that the company is dropping DEI from its annual report, joining a list of companies like McDonald's, Ford, and Walmart who have announced similar measures. Barron's, in an article titled "BlackRock Cuts Back on Board Diversity Push in Proxy-Vote Guidelines", reported in December that BlackRock relaxed the language it provides to companies on DEI as guidelines to fill board positions while moving away from an ESG-linked credit facility that promoted meeting certain diversity targets. In years past, BlackRock has faced criticism from conservatives over its promotion of DEI. "Just as we ask of other companies, we have a long-term strategy aimed at improving diversity, equity and inclusion at BlackRock," Fink told shareholders in a letter in 2021. "To truly drive change, we must embed DEI into everything we do." GET FOX BUSINESS ON THE GO BY CLICKING HERE In its 2023 annual report, BlackRock had a section focused on DEI and said that it "believes a diverse workforce with an inclusive and connected culture is a commercial imperative and indispensable to its success. Ultimately, a dynamic, inclusive organization allows BlackRock to attract and retain top talent around the world and to stay ahead of its clients' needs." BlackRock's annual report from 2023 also referenced how the firm's "three pillar DEI strategy is aligned with the firm's business priorities and long-term objectives." It also included data about the self-identified gender and racial demographics of the company's workforce, along with a geographic breakdown. The latest annual report omits the gender and racial demographics and only includes a geographic breakdown. Last month, President Donald Trump signed an executive order that instructed federal agencies to investigate corporate DEI programs on the grounds of potential civil rights violations. Fox Business' Eric Revell contributed to this report via: https://www.foxbusiness.com/politics/blackrock-flips-script-dei-policies-company-wide-email-announcing-several-changes

As the US-Ukraine rare earth minerals deal takes shape, here's what to know

Posted by radio1n1 — Fri, 28 Feb 2025 08:02 GMT

President Donald Trump and Ukrainian President Volodymyr Zelenskyy are expected to meet Friday in Washington, D.C., to sign an agreement on the development of rare earth mineral projects in Ukraine, as well as oil and gas projects. Under the newest version of the deal that the Ukrainian Cabinet approved on Wednesday, a reconstruction investment fund with joint U.S.-Ukraine ownership would be established. Ukraine's government said it plans to move half of its revenues from future oil, gas and mineral projects into the fund, some of which would be reinvested for more development. Once the initial framework is formally agreed to, the two countries will negotiate a "subsequent agreement" over control of the fund and its operation. While the Trump administration initially demanded $500 billion of Ukraine's rare earths and other minerals for roughly $185 billion in aid it has provided, the latest deal doesn't include a concrete figure for mineral revenues or the size of the U.S. stake. Rare earth minerals, a term applied to a group of 17 elements including 15 metals, carry economic significance because they're used in a wide range of consumer electronics, electric vehicles (EVs), aircraft engines, medical equipment, oil refining and military applications like missiles and radar systems. WHAT WE KNOW ABOUT THE US-UKRAINE MINERAL DEAL SO FAR They're also geopolitically significant because China controls about 60% of global mine production and 90% of processed and permanent magnet output. The Chinese Communist Party has implemented export controls on some rare earths to prevent them from being used by the U.S. - a dynamic that could intensify if U.S.-China tensions rise in the future over issues like Taiwan's continued autonomy. China has about 44 million tons of rare earth mineral reserves, the largest of any country according to the U.S. Geological Survey (USGS) - while the U.S. ranks seventh with 1.9 million tons. Brazil ranks second with 21 million tons, followed by India (6.9 million), Australia (5.7 million), Russia (3.8 million), and Vietnam (3.5 million), while Canada ranks eighth (0.8 million). TRUMP SAYS UKRAINE RARE-EARTH MINERALS DEAL WILL LEAD TO 'SUSTAINABLE' FUTURE BETWEEN US, UKRAINE Ukraine possesses rare earth elements such as lanthanum and cerium, which are used in TVs, lighting and catalytic converters; neodymium, which is used in wind turbines and EV batteries; as well as erbium and yttrium, which have a range of applications that include nuclear power and lasers. The country also has significant reserves of non-rare earth minerals like coal, graphite, lithium, titanium and uranium. Estimates from Ukrainian think tanks We Build Ukraine and the National Institute of Strategic Studies suggest that about 40% of Ukraine's metal resources, which include other non-rare earths, are located in areas of eastern and southern Ukraine that Russia has occupied amid its invasion. TRUMP SAYS MINERALS DEAL HAS BEEN 'PRETTY MUCH' NEGOTIATED WITH ZELENSKYY, MEETING SLATED FOR FRIDAY Rare earth minerals aren't necessarily rare in the sense that there are few of them, but rather they tend to occur in relatively small quantities or are mixed with other minerals such that they're difficult to find and costly to extract and process. In the order of their appearance on the periodic table of elements, rare earth minerals include: scandium, yttrium, lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, and lutetium. GET FOX BUSINESS ON THE GO BY CLICKING HERE Processing rare earths for use in a variety of capacities tends to require the use of solvents, which can produce toxic waste that pollutes the soil, water and atmosphere. Some rare earth ores also contain radioactive thorium or uranium, which is often removed using acid. While more environmentally friendly technologies are under development, they aren't yet widely used. Fox News' Morgan Phillips and Reuters contributed to this report. via: https://www.foxbusiness.com/politics/us-ukraine-rare-earth-minerals-deal-takes-shape-heres-what-know

Ex-Trump energy secretary reveals how long Keystone XL pipeline could take to finish

Posted by radio1n1 — Fri, 28 Feb 2025 06:01 GMT

Former Trump Energy Secretary Dan Brouillette predicted the Keystone XL pipeline could be up and running in two years if the president's floated plans to revive the project come to fruition. "I think if you could eliminate the inefficiencies in the permitting process and, frankly, clean up some of the judicial activity around this particular project, you could probably do this in about two years," Brouillette, who served as energy secretary from 2019 to 2021, told FOX Business' Stuart Varney on Wednesday. "It's a massive project, but this industry is very, very good at what it does, and it could do this very efficiently." EX-KEYSTONE XL PIPELINE WORKER 'ON CLOUD NINE' AS TRUMP REPORTEDLY PLANS TO REVIVE THE PROJECT However, a "whipsaw effect" in which one administration embraces the project and another shutters it, slows down financing for such projects, he added. History showcased the challenge of firing up the pipeline when it began taking shape during Trump's first term but was "jettisoned" in 2021 when former President Biden revoked TC Energy Corp.'s permit for the pipeline via executive order hours after his inauguration. The company ultimately gave up on the project in June 2021 due to permit cancelations. TRUMP SLAMS BIDEN FOR CANCELING KEYSTONE XP PIPELINE IN FREEWHEELING MUSK INTERVIEW Trump turned his attention to the project again on Monday, calling for the company behind its construction to "come back to America, and get it built - NOW!" Construction on the Keystone XL Pipeline began in 2010 and was eventually halted by then-President Barack Obama before continuing during Trump's first term. The project was originally slated to be completed in early 2023 and would transport an additional 830,000 barrels of crude oil from Canada to the U.S. GET FOX BUSINESS ON THE GO BY CLICKING HERE Fox News Digital's Stepheny Price contributed to this report. via: https://www.foxbusiness.com/media/ex-trump-energy-secretary-shares-how-long-could-take-finish-keystone-pipeline

Companies are building robots to combat the loneliness epidemic and bring emotional support

Posted by radio1n1 — Thu, 27 Feb 2025 22:38 GMT

Robots these days can complete many tasks, from doing the laundry to serving food. But now, companies are taking that human-robot relationship one step further. "The future of robots looks bright, with advancements in AI and customization leading to more interactive and supportive companions for various aspects of life," said Realbotix's flagship humanoid robot Aria. Aria is a customizable, human-like robot. Users can design Aria's physical features and her background. "Create a backstory, create...where they're from, what their likes and dislikes are, whether they're shy or outgoing, whether they're educated or not," said Realbotix Founder and COO Matt McMullen. FIRST-EVER AI REAL ESTATE AGENT GENERATES $100M IN SALES IN PORTUGAL And now... Melody, the newest Realbotix robot, can travel with you and recognize objects. "Think of it almost like Lego pieces that can be put together, put into a suitcase, and you can travel with them... she'll be able to look at you and recognize humans, but also recognize if you're eating an apple. She'll be able to recognize what you're eating or what you're holding," said Realbotix CEO Andrew Kiguel. MORE THAN 10% OF SOUTH KOREA'S WORKFORCE IS NOW ROBOTIC, SURVEY FINDS Realbotix says their robots are the most human-like ones available today. "We want it to be able to be someone's friend, boyfriend or girlfriend. We're even building the ability for it to be romantic with someone... I think we have the most realistic robots on the planet right now, especially with the AI-powered," said Kiguel. Across the globe, one company in Japan is creating a smaller robot focused on emotional support. NVIDIA UNVEILS ROBOTS POWERED BY SUPER COMPUTER AND AI TO TAKE ON WORLD'S HEAVY INDUSTRIES Romi is an emotional support robot that also uses AI to connect with its users. "For example, for an older person living on their own, they have no one to really talk to. So they might go a full day without talking to anyone else. They have no one to really say, good morning to them. But with Romi, they'll have someone to say good morning and actually converse with them throughout the day," said Romi's Marketing and Planning Director Ayu Yuki. Romi recognizes faces and has long-term memory, allowing it to build a relationship with their user. "Romi's base personality is something of like an ally to their owner. And the new model we have long-term memory. So conversations are kind of saved and in pieces. "So each Romney model will be able to have more individualized conversations with their owners," said Yuki. CLICK HERE TO GET FOX BUSINESS ON THE GO Romi has become popular in Japan as a way to help ease the country's loneliness epidemic. via: https://www.foxbusiness.com/technology/companies-building-robots-combat-loneliness-epidemic-bring-emotional-support

Nvidia CEO Jensen Huang says everyone is 'racing' to adopt AI technology

Posted by radio1n1 — Thu, 27 Feb 2025 18:14 GMT

Nvidia CEO Jensen Huang discussed artificial intelligence (AI) and more in an interview with Liz Claman on "The Claman Countdown." Huang, who co-founded the California-based chipmaker in 1993, told Claman that "everybody" is "racing" to adopt artificial intelligence technology. Adoption is "incredibly fast" among what the Nvidia CEO described as the "core technology builders, the model builders and the companies that are building consumer-oriented AIs." "The frontier models, and all of the startups trying to build a next-generation of frontier models, they're racing to get to the next level," he added. Agentic AI is "developing very nicely" and "likely to come on next," according to Huang. He said the next phase after that would be physical AI. GET FOX BUSINESS ON THE GO BY CLICKING HERE "This is AI that understands the laws of the physical world. It understands things like inertia and gravity and cause and effect and object permanence, and we'll use that for self-driving cars and robotics systems and things of that nature," he explained. Huang said such industries "are kind of coming on in waves" and "building on top of each other." Meanwhile, on the topic of data centers, he said capital expenditures are showing "huge growth" in comparison to last year. "Not only is the capex larger, the amount of that capex dedicated to AI is going to be far greater," the Nvidia CEO said during the interview. "We're seeing a very robust growth for this year compared to last year, and I think we're teed up for some pretty great build outs of these data centers to produce essentially what I call AI factories, which in the future will transform energy, if you will, into digital intelligence... We've got several years, many years of build out to go." Huang also discussed DeepSeek, a Chinese startup that released models that it claimed are comparable to leading U.S. ones at a much cheaper cost, and how its technology has affected AI and Nvidia. The startup has "opened up reasoning AI" and "opened up a whole new field that consumes an enormous amount" of Nvidia's computing capability, with many AI developers making use of the new types of models. The new generation of AI models has "caused demand to be really high," he said. NVIDIA SALES SPIKE ON AI DEMAND During the interview, Huang also weighed in on the sit-down he had with President Donald Trump in late January. The U.S. currently has multiple semiconductor chip controls for exports to China. Huang told Claman that Nvidia is "committed and very enthusiastic to work with the Trump administration to achieve its goals and want the administration to succeed." "But the net of it all is, if you look at where Nvidia's computers are that are going to China today and you compare it against what we just launched this quarter, this record-breaking quarter that we had with Grace Blackwell, the comparison of the technology, anywhere from 20 to 60 times higher performance is what we currently have in the United States, and so every day that goes by, the export-controlled technology is further and further behind, if you will, in a lot of ways. It's another way of saying every day that goes by we're making that technology slower and slower," he continued. "So I think the conversation is good, and we're happy to share with the administration everything we know, so they can make the best decision." CLICK HERE TO READ MORE ON FOX BUSINESS His interview with Claman came after Nvidia on Wednesday released its fourth-quarter earnings. The company generated $39.3 billion in revenue during the three-month period, marking a 78% increase from the same quarter last year. Its net income, meanwhile, came in at nearly $22.1 billion, an 80% year-over-year jump. Nvidia's market capitalization hovered around $2.94 trillion as of Thursday. via: https://www.foxbusiness.com/technology/nvidia-ceo-jensen-huang-says-everyone-racing-adopt-ai-technology

Social Security payments to increase for public pension recipients

Posted by radio1n1 — Thu, 27 Feb 2025 17:23 GMT

Retired Americans who are recipients of pensions as former public employees may soon begin receiving higher Social Security benefits after a recently-enacted law took effect. The Social Security Fairness Act was signed into law by then-President Joe Biden on Jan. 5 and eliminated policies known as the Windfall Elimination Provision (WEP) and Government Pension (Offset). Those policies reduced or eliminated Social Security benefits for more than 3.2 million people who receive a pension for work that wasn't covered by Social Security because they didn't pay Social Security taxes. Among the groups of people who were affected include certain teachers, firefighters and police officers in many states; federal employees covered by the Civil Service Retirement System; and people whose work was covered by a foreign social security system. It doesn't apply to all such people because about 72% of state and local public employees work in roles covered by Social Security and pay into the system - so they won't see a benefit increase under the new law. The Social Security Administration (SSA) explained that the size of the monthly benefit change can vary greatly based on the type of benefit received and the amount of the person's public pension. Some individuals may see only a very small increase, while others may be eligible for over $1,000 more each month, the agency noted. ACTING SOCIAL SECURITY CHIEF OPENS UP ON DOGE, CLAIMS OF DEAD PEOPLE RECEIVING BENEFITS SSA announced that starting this week, the agency is beginning to pay retroactive benefits and will increase monthly benefit payments to individuals whose payments were affected by the WEP and GPO policies. The elimination of those policies is retroactive back to January 2024 and if a Social Security beneficiary is impacted by the policy change, they'll receive a one-time retroactive payment deposited into the account SSA has on file by the end of March. SOCIAL SECURITY'S FULL RETIREMENT AGE IS INCREASING IN 2025: WHAT TO KNOW "Social Security's aggressive schedule to start issuing retroactive payments in February and increase monthly benefit payments beginning in April supports President Trump's priority to implement the Social Security Fairness Act as quickly as possible," said Lee Dudek, Acting Commissioner of Social Security. "The agency's original estimate of taking a year or more now will only apply to complex cases that cannot be processed by automation." Social Security beneficiaries impacted by the change will start getting payments with their new monthly benefit starting in April for their March benefit, because Social Security benefits are paid one month behind. MILLIONS TO GET HIGHER SOCIAL SECURITY PAYMENTS UNDER NEW LAW SSA noted that affected beneficiaries may receive a pair of mailed notices, the first notifying them that WEP or GPO is removed from their record, and a second when their monthly benefit amount is adjusted for their new monthly payment amount. The retroactive payment may be received before the mailed notice. "We urge beneficiaries to wait until April to inquire about the status of their retroactive payment, since these payments will process incrementally throughout March," SSA wrote. "Beneficiaries should also wait until after receiving their April payment before contacting SSA to ask about their monthly benefit amount because the new amount will not be reflected until April for their March payment." GET FOX BUSINESS ON THE GO BY CLICKING HERE SSA added that if a beneficiary has their Medicare premiums deducted from their Civil Service Retirement System annuity and then applies for Social Security benefits, their premiums will be deducted from their monthly Social Security benefits. The nonpartisan Committee for a Responsible Federal Budget noted that the Social Security Fairness Act added $196 billion to the federal deficit over the next decade and is projected to hasten the insolvency of Social Security's main trust fund by six months. via: https://www.foxbusiness.com/economy/social-security-payments-increase-public-pension-recipients

Gene Hackman, wife found dead at Santa Fe estate: What to know about the property

Posted by radio1n1 — Thu, 27 Feb 2025 16:34 GMT

Authorities said Gene Hackman and wife Betsy Arakawa were found dead Wednesday afternoon on the estate they owned in Santa Fe, New Mexico. The couple, known for acting and classical piano, respectively, had owned the sprawling property in the Hyde Park area near Santa Fe since the '80s, according to Realtor.com. It reportedly has a value of $3.8 million. The 12-acre property has two homes, one of which existed when Hackman bought the property and another he had built about 25 years ago, the outlet reported. GENE HACKMAN AND WIFE'S DEATHS CALLED 'SUSPICIOUS,' BODIES SHOWED SIGNS OF 'MUMMIFICATION' The actor extensively revamped the original home with the help of architects Harry Daple and Stephen Samuelson, according to a 1990 article from Architectural Digest. "The house was horrible. It was a 1950s block building that had sat empty and had deteriorated. But it was a great site, and the foundation had been well placed on the land," Samuelson told the outlet at the time. Hackman reportedly incorporated pueblo, colonial New Mexico and Spanish Baroque styles into the home. That massive renovation involved razing walls, creating a living area and making the ceilings significantly taller, according to Architectural Digest. Hackman and Arakawa decorated the home with pieces from Sante Fe, New York, Germany and elsewhere, the outlet reported in 1990. The actor reportedly described it as a "nice combination of soft Southwestern pieces and hard-edged antiques." Samuelson told Architectural Digest Hackman was a "deeply involved client" and characterized the home as "more primitive, like a barn converted into a house, massive and cozy at the same time." Hackman looked to set up the home in Santa Fe because the area had "a kind of magic," according to the 1990 report. The actor and his wife spent significant time there over the years, especially after retiring. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Oscar-winning actor was 95 when he died. Arakawa was 64. "On February 26, 2025, at approximately 1:45 p.m., Santa Fe County Sheriff's deputies were dispatched to an address on Old Sunset Trail in Hyde Park, where Gene Hackman, 95, and his wife Betsy Arakawa, 64, and a dog were found deceased," the Santa Fe County Sheriff's office told Fox News Digital early Thursday morning. The couple had been dead for some time, with authorities locating Hackman in a mudroom and Arakawa in a bathroom. During the investigation, the sheriff did not discover any visible trauma to either Hackman or his wife and said they could have been victims of a double homicide, suicide, accidental death or natural causes. Authorities continue to investigate. Since news of the deaths of Hackman and Arakawa broke, multiple Hollywood stars have expressed sorrow. "The loss of a great artist, always cause for both mourning and celebration: Gene Hackman a great actor, inspiring and magnificent in his work and complexity," Francis Ford Coppola said. "I mourn his loss, and celebrate his existence and contribution." GENE HACKMAN DEATH MOURNED BY HOLLYWOOD: ANTONIO BANDERAS, GARY SINISE, FRANCIS FORD COPPOLA REMEMBER STAR "I am crushed by the sudden deaths of Gene Hackman and his wife Betsy Arakawa (and their dog)," Josh Brolin said in a social media post. "Crushed. He was always one of my favorites. Not many who beat to their own drums like he did. Rest in Peace." Fox News Digital's Stephanie Giang-Paunon and Christina Shaw contributed to this report. via: https://www.foxbusiness.com/entertainment/gene-hackman-wife-found-dead-santa-fe-estate-what-know-about-property

Elon Musk wants 'top notch' retired air traffic controllers to consider returning to work

Posted by radio1n1 — Thu, 27 Feb 2025 15:20 GMT

Elon Musk is calling on retired air traffic controllers to consider coming back to work. "There is a shortage of top notch air traffic controllers. If you have retired, but are open to returning to work, please consider doing so," Musk, who heads the Department of Government Efficiency (DOGE), posted on X. Musk's post comes after Transportation Secretary Sean Duffy said he's enlisting the tech billionaire and SpaceX engineers to take a deeper look at the agency, which has been grappling with staffing shortages. However, Duffy, in particular, wants Musk to look into the alleged "outdated" internet and digital program infrastructures. AIRLINES URGE CONGRESS TO SUPPORT AIR TRAFFIC CONTROL HIRING, MODERNIZE FAA Vice President JD Vance echoed similar concerns, saying that U.S. air traffic control systems are outdated and must be upgraded. There has been growing concern about a shortage of air traffic controllers due to the growing number of close calls being reported. Despite staffing concerns, the Trump administration recently moved to lay off hundreds of Federal Aviation Administration (FAA) employees in an effort to curtail federal spending. Some critics fear this could exacerbate the recent aviation incidents, but Duffy placed blame for these incidents on the lack of technological advancements. Last week, Duffy asked for Musk's help in light of a U.S. Army Black Hawk colliding with an American Airlines regional jet on Jan. 29 in what was the deadliest U.S. air disaster in more than 20 years. Both aircraft fell into the Potomac River after the collision. Sixty-seven people were killed. This incident served as "a heartbreaking wake-up call that improvements must be made," Duffy previously wrote on X. There have been several close calls since the beginning of the year, including an incident on Tuesday when a Southwest Airlines jet was forced to perform a go-around maneuver after a private business jet taxied onto the same runway. TRUMP ADMINISTRATION FIRING HUNDREDS OF FAA WORKERS Acting FAA Administrator Chris Rocheleau told employees that the DOGE team would be visiting more FAA facilities - including the FAA's headquarters - after Monday stops at the Air Traffic Control Command Center and Potomac TRACON in Warrenton, Virginia, Reuters reported. Following a visit to an FAA facility himself, Duffy expressed his surprise upon learning that the FAA uses a seemingly "unreliable" internet server and even runs some programs on floppy disks. GET FOX BUSINESS ON THE GO BY CLICKING HERE A Transportation Department spokesperson previously told FOX Business in a statement that the FAA is continuing to hire and onboard "air traffic controllers and safety professionals, including mechanics and others who support them." The spokesperson also said that the "agency has retained employees who perform safety critical functions." FOX Business' Kristen Altus contributed to this report. via: https://www.foxbusiness.com/lifestyle/elon-musk-wants-top-notch-retired-air-traffic-controllers-consider-returning-work

Subway to bring back discounted footlong sandwiches

Posted by radio1n1 — Thu, 27 Feb 2025 13:24 GMT

Subway is looking to appeal to value-seeking consumers by reintroducing its $6.99 footlong sandwich deal. The sandwich chain said Thursday that the deal is making a comeback in the U.S. for a limited time beginning Friday. The offers customers "any footlong sub on Subway's menu" for the price of $6.99 at participating restaurants across the country, Subway said. Subway customers will need to place their sandwich order through either the chain's app or website - and plug in the promo code "699FL" - in order to take advantage of the new discount. GET FOX BUSINESS ON THE GO BY CLICKING HERE It comes as many fast-food customers have continued to feel the squeeze on their wallets from high inflation. "People continue to watch their spending but don't want to sacrifice quality, quantity and taste for value when dining on the go," Doug Fry, Subway's North America president, said in a statement. Last year, quick-service chains like Subway, McDonald's, Taco Bell and Burger King launched a flurry of deals and promotions for consumers who had pulled back spending and visits to fast-food restaurants. Deals have continued to appear in the early months of 2025. NEW FAST FOOD VALUE DEALS ARE COMING IN 2025 Some fast-food companies have indicated value offerings will remain part of their strategies for the year. In early February, the National Restaurant Association said it found in its "2025 State of the Restaurant Industry" report that 47% of all types of restaurant operators "plan to add new discounts deals or value promotions" in 2025 to bring in more customers. CLICK HERE TO READ MORE ON FOX BUSINESS via: https://www.foxbusiness.com/lifestyle/subway-bring-back-discounted-footlong-sandwiches

McDonald's CEO gives three predictions for restaurant biz in 2025

Posted by radio1n1 — Thu, 27 Feb 2025 12:16 GMT

McDonald's CEO Chris Kempczinski on Wednesday offered three predictions for trends that the quick-service restaurant industry will see this year. The top three trends that Kempczinski forecast to emerge in the sector this year focused on food and technology. He detailed them in a video he posted on Instagram. "I think protein is going to be a big trend that you see, with people looking to get increased protein consumption," he said in the post. "Protein is hot. Everybody's into protein," Kempczinski said, adding that it "works perfectly" with McDonald's and its burgers, chicken, fish filets and other items. MCDONALD'S EXEC SAYS NO SURCHARGES ON EGGS He also suggested the quick-service restaurant industry will lean more into artificial intelligence (AI). "Everybody's talking about AI, and AI certainly has a lot of applications in our business," the McDonald's CEO said. "We've got a number of teams looking at how we can use AI to deliver an even better experience for our customers, even better experience for our crew members." McDonald's has previously inked deals to partner with companies like Google and Cognizant to make use of AI, cloud and other technologies in its operations. MCDONALD'S TAKES MASSIVE SALES HIT FROM E. COLI OUTBREAK Kempczinski further projected that fast-food eaters are "going to be seeing some interesting sauces." "Spicy is certainly always in. I think you might see some honey or some sweet stuff in," he noted. "But sauces are also going to be a big thing, in my estimation, for 2025." The fast-food giant has experimented with sauces in the past. Last summer, it offered a limited-time garlic dipping sauce. It ran a Sweet & Spicy Jam Sauce and a Mambo Sauce for a limited time in 2023 as well. MCDONALD'S PLANS MORE CHICKEN OFFERINGS Kempczinski concluded the video by saying he'll "come back a year from now and see how I did" with his predictions for 2025. McDonald's generated $25.9 billion in revenue over the course of 2024. Its annual net income for the year, meanwhile, was $8.2 billion. via: https://www.foxbusiness.com/lifestyle/mcdonalds-ceo-gives-3-predictions-restaurant-biz-2025

Kenny Haiti Win Trace Awards 2025

Posted by radio1n1 — Thu, 27 Feb 2025 12:13 GMT

Trace Awards 2025 : @kenny Haiti vient de remporter ce mercredi 26 F vrier 2025 le prix du Meilleur artiste masculin des Cara bes Zanzibar ???????????????? Apr s Rutshelle l'ann e derni re, Ha ti a encore brill lors de cette prestigieuse c r monie. Ha ti l'honneur, la musique Ha tienne continue de briller sur la sc ne internationale ?? Bravo Kenny ???????? #844tvradio deal keep pussing bro ??????????Kenny Haiti

Mortgage rates fall to lowest level in over 2 months

Posted by radio1n1 — Thu, 27 Feb 2025 12:13 GMT

Mortgage rates fell for a sixth consecutive week to the lowest level in more than two months, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage decreased to 6.76% from last week's reading of 6.85%. The average rate on a 30-year loan was 6.94% a year ago. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home," said Sam Khater, Freddie Mac's chief economist. MORTGAGE RATES FALL FOR FIFTH WEEK IN A ROW, HOVER NEAR 7% The average rate on the 15-year fixed mortgage fell to 5.94% from 6.04% last week. One year ago, the rate on the 15-year fixed note averaged 6.26%. US PENDING HOME SALES FALL TO RECORD LOW IN JANUARY Mortgage rates ranged from 6.91% to 7.04% in January, and the National Association of Realtors (NAR) said that in comparison to one year ago, the monthly mortgage payment on a $300,000 home increased by an extra $50 to $1,590. GET FOX BUSINESS ON THE GO BY CLICKING HERE NAR reported on Thursday that its pending home sales index fell to the lowest level on record in January due to the double whammy of high mortgage rates and high home prices. Pending home sales were down 5.2% compared with a year ago. "It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in the upcoming months," said NAR chief economist Lawrence Yun. "However, it's evident that elevated home prices and higher mortgages strained affordability." FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/economy/mortgage-rates-2-27-25

Fast-food chain makes starchy comeback menu item permanent

Posted by radio1n1 — Thu, 27 Feb 2025 12:04 GMT

Potato cakes are back at Arby's for good, the restaurant chain confirmed on X Thursday morning. Arby's, owned by Atlanta-headquartered Inspire Brands LLC, reintroduced potato cakes last July after removing them from menus in 2021 in favor of crinkle fries. "After the overwhelming excitement from our fans following the brief return of Potato Cakes in July 2024, it was clear how much our guests truly missed them," Jeff Baker, Chief Marketing Officer at Arby's, said in a statement to FOX Business. "We constantly get calls, messages and comments on social media about Potato Cakes. Since we're in the business of making Arby's fans happy, bringing Potato Cakes back was a no brainer for us," Baker continued. "It is a small way we can show appreciation to our guests for their passion and loyalty. Potato Cakes are permanently back, and we couldn't be more excited to enjoy them together once again." ARBY'S DISCONTINUES POTATO CAKES AFTER MAKING CRINKLE FRIES PERMANENT MENU ITEM: REPORT Last summer, the fast-food chain said that within a year, potato cakes had been mentioned on social media 10,000 times, with many posts calling for its comeback. The side dish starts at $2.79 for two pieces at a central Florida location. It is available in three and four pieces for a higher price. CONVENIENCE CHAIN KUM & GO REBRANDING DOZENS OF LOCATIONS IN SEVERAL STATES Arby's is vowing that potato cakes will not disappear again. "But if Arby's removes Potato Cakes from the menu, you and your loved ones may be entitled to a settlement," the restaurant's X post states. "Join the Arby's Potato Cakes Pre-Class Action Lawsuit today. Sign up at: https://arbyspotatocakeslawsuit.com." Those who sign up for the gag promotional campaign will receive a DoorDash code redeemable for free delivery and a two-piece potato cakes between Feb. 27 and March 5. CLICK HERE TO READ MORE ON FOX BUSINESS Arby's is known for having "the meats" and its iconic curly fries. The sandwich drive-thru restaurant was founded in 1964, its website states. via: https://www.foxbusiness.com/lifestyle/fast-food-chain-makes-starchy-comeback-menu-item-permanent

Mexico, Canada tariffs will be implemented due to 'unacceptable' drug flow, Trump says

Posted by radio1n1 — Thu, 27 Feb 2025 11:55 GMT

President Donald Trump on Thursday said that his proposed 25% tariffs on Mexico and Canada remain on track to go into effect next week because drugs are still pouring into the U.S. from across their borders at "very high and unacceptable levels." The tariffs on Mexican and Canadian goods are scheduled to go into effect on March 4, with a lower 10% tax on Canadian energy products such as oil and electricity. Trump said that on that date he would also impose an additional 10% tariff on China, where he claimed a large percentage of the illicit drugs, including fentanyl, that enter the U.S. are made and supplied. "We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled," Trump said in a post on his Truth Social media site. "China will likewise be charged an additional 10% Tariff on that date." WHAT ARE TARIFFS, HOW DO THEY WORK AND WHO PAYS FOR THEM? Trump also said that the April 2 "reciprocal tariffs," which match import duty rates of other countries, "will remain in full force and effect." WHAT'S HAPPENING WITH TRUMP'S TARIFFS ON CHINA, CANADA AND MEXICO? Trump has already increased tariffs on goods imported from China by 10% across-the-board. Those tariffs took effect on Feb. 4, and the Chinese government announced retaliatory tariffs on certain U.S. energy exports and took other punitive measures, including an antitrust probe of Google and restrictions on exports of rare earth minerals. GET FOX BUSINESS ON THE GO BY CLICKING HERE The implementation of these tariffs leaves open the possibility that American consumers could face higher prices for certain products if they ultimately take effect. FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/politics/mexico-canada-tariffs-implemented-due-unacceptable-drug-flow-trump-says

Renowned Japanese artist Takashi Murakami teams up with MLB for rare Tokyo Series collection

Posted by radio1n1 — Thu, 27 Feb 2025 09:45 GMT

Next month, MLB's Tokyo Series will feature two teams filled with Japanese superstars, as the Los Angeles Dodgers and Chicago Cubs head overseas to kick off their regular season schedule. To commemorate this moment in baseball history, renowned Japanese contemporary artist Takashi Murakami has partnered with MLB and Complex to unveil a historic, limited-edition collection of merchandise and trading cards through Fanatics' commerce and collectibles divisions. From exclusively designed jerseys, to Topps trading cards featuring Murakami's signature vibrant colors and floral artwork, this first-of-its-kind offering for baseball fans plays into the sport's enormous following in Japan, and better yet, offers them the chance to be the lucky finder of a one-of-one signed card by the country's biggest star. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM Japan is one of MLB's prime global markets, especially considering the talent that is consistently featured on its baseball diamonds every year. Take Dodgers superstar MVP Shohei Ohtani, for example. His merchandise accounted for 57% of total MLB sales across the Fanatics network in Japan, including the MLB Store JP. When the Dodgers signed Ohtani to a then-record $700 million deal, a more than 2,000% increase year over year was seen in the same Fanatics network. And then there's the trading card sector of the game, which has skyrocketed from $1.5 million in sales in 2021 in Japan, to $22.6 million in 2024. That brings us to perhaps the rarest of the entire collection. BLAKE SNELL, ROKI SASAKI ARE JUST THE START: ALL OF DODGERS' 2025 STARTING ROTATION OPTIONS Topps, the signature sports trading card brand owned by Fanatics Collectibles, will have a dual-autograph card in one of its sets from Ohtani and Murakami - a one-of-one card. We saw what the Pittsburgh Pirates were willing to give up for phenom Paul Skenes' one-of-one card from Topps recently, and Ohtani's stardom is on a global scale already. Collectors will be able to grab either a Topps Baseball Series 1 - Tokyo Game Exclusive set ($50 mega box), or the Topps x Murakami MLB Tokyo Series Matchup Set ($120 hobby box) to find this one-of-one card. The Series 1 set will have Murakami-designed rare cards numbered to five, while the Topps x Murakami Matchup set will be a 25-card set, exclusively on complex.com, which will include other autographed cards and parallels. As for merchandise, Fanatics will be offering a wide array of Nike MLB threads like jerseys, T-shirts, sweatshirts and more designed by Murakami. While Ohtani is the biggest draw, the collection includes fellow Dodger and Japanese star Yoshinobu Yamamoto, as well as Mookie Betts and Freddie Freeman. For the Cubs, Shota Imanaga, Seiya Suzuki and Dansby Swanson will have their own gear as well. Finally, Topps will be on the ground in Tokyo in the Shibuya district with a three-floor interactive experiential that will be open to the public from March 13-16 before the first game on March 18. Digital touchscreens will combine trading cards and memorabilia at the exhibition, and stories about some of Japan's iconic players, including Class of 2025 Hall of Fame inductee Ichiro Suzuki and World Series-champion Hideki Matsui, as well as current players, will be shown. And of course, Ohtani memorabilia will consume one of those floors entirely, which will include a game-used bat from the Dodgers' 2024 World Series and a base from his record 50/50 game this past season. This year will commemorate the 25th anniversary of the first regular-season MLB games to be played in Japan, with the Cubs and New York Mets being the first two teams to do so in 2000. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter. via: https://www.foxbusiness.com/sports/renowned-japanese-artist-takashi-murakami-teams-up-mlb-rare-tokyo-series-collection

US economy grew 2.3% in fourth quarter

Posted by radio1n1 — Thu, 27 Feb 2025 08:45 GMT

The U.S. economy grew at a rate of 2.3% in the fourth quarter, in line with the prior reading and economists' expectations. The Commerce Department's Bureau of Economic Analysis (BEA) on Thursday released its first revision of the estimate for fourth quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.3% in the fourth quarter, which runs from October through December. Economists surveyed by LSEG had expected the economy to grow at a 2.3% rate in the quarter. The BEA's preliminary estimate of GDP in the quarter that was released last month also came in at 2.3%, though economists expected 2.6% growth at the time. GDP growth slowed in the fourth quarter when compared with the third quarter, which had 3.1% growth. The BEA noted the deceleration in the fourth quarter was primarily due to downturns in investment and exports that were partially offset by an acceleration in consumer spending, while imports declined. CONSUMER CONFIDENCE SLUMPS IN FEBRUARY WITH BIGGEST MONTHLY DROP IN NEARLY 4 YEARS Consumer spending grew 4.2% in the fourth quarter, with increases in both services and goods. It was up from 3.7% in the third quarter and 2.8% in the second quarter. Government spending grew at a faster pace than initially estimated - it was up 2.9% in the fourth quarter, a larger increase than the initial 2.5% estimate, though it was slower than the 5.1% increase in the third quarter. US PRODUCER PRICES RISE SLIGHTLY ABOVE EXPECTATIONS IN JANUARY Business investment declined 5.7% in the fourth quarter, a deeper drop than the initial estimate of 5.6%. It had been relatively flat in the third quarter, when it grew 0.8%. Last quarter, investment in equipment decreased 9% while investment in structures dipped 3.2% - both steeper declines than in the initial estimate. Disposable personal income increased 2.5% last quarter, slightly less than the initial estimate of 2.8%, though it was a larger gain than the prior two quarters. AMERICA'S WEALTHIEST HOUSEHOLDS DRIVING NEARLY HALF OF CONSUMER SPENDING: MOODY'S Personal savings as a share of disposable income came in at 3.8% in the fourth quarter, continuing a gradual decline that spanned 2024 after a 5.4% reading in the first quarter. "Revisions to Q4 GDP appear uneventful, but the downward revision to real business equipment spending offers a warning that policy uncertainty could be a bigger issue in H1 than we anticipated," said Ryan Sweet, chief U.S. economist at Oxford Economics. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Business equipment spending is among the most sensitive components of GDP to changes in policy uncertainty, and there hasn't been a post-election reprieve in uncertainty, particularly for trade," Sweet added. via: https://www.foxbusiness.com/economy/us-economy-gdp-q4-2024-2nd-estimate

Amazon rolling out AI-driven Alexa+ service

Posted by radio1n1 — Thu, 27 Feb 2025 08:02 GMT

Amazon revealed Wednesday it will be rolling out an Alexa+ service infused with artificial intelligence (AI). The e-commerce giant unveiled the technology at a highly anticipated event Wednesday, and Amazon described Alexa+ as "much more conversational, smarter, personalized and capable of getting even more things done for customers." The launch of Alexa+ will start with an "early access period" in the U.S. focusing on Echo Show 8, 10, 15 and 21 devices in the coming weeks, according to the company. Amazon said it will become more available "in waves" in the months after that. The company said it will include Alexa+ in its Amazon Prime membership. For those without a Prime subscription, it will carry a $19.99-per-month price tag. GET FOX BUSINESS ON THE GO BY CLICKING HERE Daniel Rausch, Amazon's executive vice president for Alexa and Echo, said at Wednesday's event that Alexa+ will "already work with literally tens of thousands of other services and devices from our partners" on the first day it goes live. Alexa+ will capitalize on large language models such as the company's Nova models and models from Anthropic for its AI-powered capabilities, according to the e-commerce giant. "Alexa+ is founded on a model-agnostic system, so it's always using the best model for any given task," Amazon executives said. The company highlighted Alexa+'s new "agentic capabilities," saying the service will be able to "navigate the internet in a self-directed way to complete tasks" for customers, such as arranging the repair of a kitchen appliance. AMAZON INCREASES AD SPENDING ON X IN MAJOR REVERSAL: REPORT The service will also bring other new features to customers. For example, it will be able to utilize Ring's smart video search to help a user figure out whether garbage bins have been taken out, according to Amazon. The company said it will "jump to your favorite scene" in a movie on Prime Video if a Fire TV user provides details. Alexa+ will also remember dietary preferences and apply that information when making restaurant suggestions, the company said. It will be able to order Ubers, make reservations through OpenTable, let users know when concert tickets become available on Ticketmaster and more. Amazon first launched Alexa over a decade ago. There are about 600 million Alexa devices around the world now, according to the company. CLICK HERE TO READ MORE ON FOX BUSINESS Shares of Amazon saw a boost on the news before settling around $213.76 late Wednesday afternoon. The company's market capitalization was around $2.25 trillion. Madison Alworth and Marc Smith contributed to this report. via: https://www.foxbusiness.com/technology/amazon-rolling-out-ai-driven-alexa-service

Who gets stuck with the bill for tariffs on imported Canadian oil?

Posted by radio1n1 — Thu, 27 Feb 2025 08:02 GMT

President Donald Trump's proposed tariffs on imported Canadian oil could take effect in the weeks ahead, which would raise costs and create a new financial burden for Canadian producers, as well as American refiners and consumers. Trump on Feb. 1 announced 25% tariffs on imports from Canada and Mexico, with a lower 10% tariff on Canadian energy products. They were originally slated to take effect on Feb. 4, though he delayed them from taking effect until at least March 4. During a Cabinet meeting on Feb. 26, Trump said the tariffs could take effect on April 2, though the White House later said the March 4 deadline remained in effect "as of this moment" pending his review of Canadian and Mexican border security measures. An analysis by S&P Global found that the "financial burden of these tariffs will be shared by U.S. refiners (and ultimately U.S. consumers) and Canadian producers." "One thing that's kind of interesting about the Canadian production and U.S. refining businesses is that they're pretty intertwined," Carin Dehne-Kiley, director of S&P Global Ratings, told FOX Business in an interview. She explained that's especially true for the "Midwest and Rockies regions where the refiners use a lot of the Canadian crude," adding that about 70% of Canadian crude production goes to the U.S. while about 60% of American crude oil imports come from Canada. EXPERT SAYS PRESIDENT TRUMP 'IS ABSOLUTELY RIGHT' THAT WORLD NEEDS MORE ENERGY RESOURCES According to the Energy Information Administration, estimated U.S. refining capacity is about 18.4 million barrels per day, while crude oil production is about 13.3 million barrels per day - leaving a gap of more than 5 million barrels to be filled by imports. Canada's oil exports, which are predominantly a heavier blend of crude, plays an important role in filling that void to keep U.S. refineries running at capacity. "The type of crude that Canada produces and sends to the U.S. is primarily this heavy sour crude, which the U.S. doesn't produce as much of," Dehne-Kiley explained. "The heavy crude has been used by the highly complex refiners in the U.S. for quite a while and they're highly complex refineries, it's actually very economical for them." TRUMP TARIFF THREATS ON CANADIAN OIL COULD IMPACT THREE US REGIONS, GAS ANALYST SAYS Tariffs are paid by importing companies, which in this case means U.S. refineries. Importers decide between passing on some or all of the tariff's cost onto consumers, or to keep consumer prices steady but have the tariff's cost come out of the corporate bottom line. In some cases, exporters may lower their prices to help the importer better handle the financial impact of the tariff - but that depends on whether they have alternative customers who could make purchases without a tariff barrier. The S&P Global report notes that Canada has limited refining capacity to process most of its crude oil production and has limited alternatives to export crude to Europe or Asia. Trump's executive order only applies tariffs to goods imported for consumption, so some of that oil could be re-exported after entering the U.S. without being refined in the country. "There's not a lot of options for Canadian crude to get exported outside of the United States. There is the TMX pipeline that came online and has some capacity to the West Coast. Right now a lot of the crude is going to either California or Asia," Dehne-Kiley explained. "If tariffs were imposed, you could probably see more of that going to Asia rather than California." CONSUMER CONFIDENCE SLUMPS IN FEBRUARY WITH BIGGEST MONTHLY DROP IN 4 YEARS While there is uncertainty surrounding when or if the Canadian oil tariffs will take effect, she noted that there would likely be some sort of time lag before the higher costs on producers and refiners translate to higher prices at the pump. "I imagine there would be some time lag for the producers to up their prices, and the refiners to up their prices, but it's hard to say how long it would take," she said. GET FOX BUSINESS ON THE GO BY CLICKING HERE "The details are going to remain to be seen how that's going to play out. But if they have to pay a little more for the crude they're getting in, typically they would turn around and raise the prices on the products they're selling. That's not always on a one-for-one perfect basis. But I do think we could see upward pressure on product prices in the U.S.," Dehne-Kiley explained. Reuters contributed to this report. via: https://www.foxbusiness.com/politics/who-gets-stuck-bill-tariffs-imported-canadian-oil

Trump says he's terminating Chevron's Venezuela oil agreement

Posted by radio1n1 — Thu, 27 Feb 2025 07:10 GMT

President Donald Trump says he is reversing a Biden-era grant allowing Chevron to operate within Venezuela on Wednesday. Trump detailed the decision in a lengthy post on Truth Social, stating that Venezuelan President Nicolas Maduro had not upheld his end of the bargain. "We are hereby reversing the concessions that Crooked Joe Biden gave to Nicol s Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022, and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime," Trump wrote. "Additionally, the regime has not been transporting the violent criminals that they sent into our Country (the Good Ole' U.S.A.) back to Venezuela at the rapid pace that they had agreed to," he added. NEARLY 200 VENEZUELAN ILLEGAL IMMIGRANTS DETAINED AT GUANTANAMO BAY ARE FLOWN BACK HOME "I am therefore ordering that the ineffective and unmet Biden "Concession Agreement" be terminated as of the March 1st option to renew. Thank you for your attention to this matter!" Trump continued. Venezuelan Vice President Delcy Rodriguez described the decision as "inexplicable" in a statement on Telegram, arguing it was a "failed decision." "The U.S. government has made a damaging and inexplicable decision by announcing sanctions against the U.S. company Chevron," Rodriguez said. U.S. Secretary of State Marco Rubio later said on X that he will provide foreign policy guidance to terminate all Biden-era oil and gas licenses "that have shamefully bankrolled the illegitimate Maduro regime." BIDEN URGED TO CRACK DOWN ON OIL COMPANIES DOING BUSINESS WITH VENEZUELA AFTER MADURO'S REFUSAL TO CEDE POWER Chevron exports about 240,000 barrels per day of crude from its Venezuela operations, over a quarter of the country's entire oil output. Since his return to office in January, Trump has repeatedly said the U.S. does not need Venezuelan oil and left open the possibility of revoking Chevron's operating license. CLICK HERE TO READ MORE ON FOX BUSINESS During his first term, Trump pursued a "maximum pressure" sanctions policy against Maduro's government, especially targeting Venezuela's energy business. Reuters contributed to this report. via: https://www.foxbusiness.com/politics/trump-says-hes-terminating-chevrons-venezuela-oil-agreement

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Posted by radio1n1 — Thu, 27 Feb 2025 02:45 GMT

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A majority of small businesses are using artificial intelligence

Posted by radio1n1 — Thu, 27 Feb 2025 00:24 GMT

Many small companies have started to find new and creative ways to save time and money using artificial intelligence. A survey from 2024 found 69% of small businesses are using AI, up from 56% in 2023, according to Goldman Sachs 10,000 Small Businesses. The Goldman Sachs program helps "small business owners grow their businesses, create jobs and offers business education, financial support, and networking opportunities," according to their website. OPENAI'S CHATGPT BRIEFLY GOES DOWN FOR USERS ACROSS THE GLOBE Asahi Pompey is the Global Head of Corporate Engagement and Chair of the Urban Investment Group at the Goldman Sachs Foundation. Pompey said AI offers two main benefits. "Category 1 is saving small business owners time. You and I know that time is everything to a small business owner. And the second category is saving them money. Our small business owners pay themselves last and so saving money is critical," Pompey said. AMERICAN FARMERS TURNING TO AI TO AID UNCERTAIN FUTURE Pompey said more examples are IT technology companies that use AI to code for their customers, or marketing agencies that use AI to write content for their blogs or websites, and HR small businesses who use AI to screen applications for positions to save time. Pompey added AI can identify duplicate charges, bookkeeping and inventory management. NVIDIA SALES SPIKE ON AI DEMAND Andy Downard is the CEO of Thriftly; a thrift store startup in Denver. Downard said his store opened at the beginning of February. Downard said he created an AI-powered scanner that can tag inventory in as little as two minutes, whereas it would usually take 20 minutes. "The ability to price based on brand, location, size, color, like AI unlocks those doors for us," Downard said. Downard said sorting through all the donations of pants, tops and shoes can be a challenge. FIRST-EVER AI REAL ESTATE AGENT GENERATES $100M IN SALES IN PORTUGAL "Hours and hours and hours worth of pricing. What are the shortcuts where we can do it faster, but at the same time have a machine, a computer with AI behind it, really providing meaningful assistance with the pricing?" Downard said. Downard said the new AI powered scanner technology he created is able to, in one scan, read the item's category, brand and size. Then, the device can compare what similar items are selling for before coming up with a price for the item. The printer will then print out the right price and size that the AI device decides. Downard said it takes a matter of minutes to train employees on how to use the device. Downard said his team has been using his new AI device for only a few weeks, but they're already seeing inventory payoffs. GET FOX BUSINESS ON THE GO BY CLICKING HERE "A typical thrift store, they are producing between 40 and 70 pieces per hour. We think we take that number over 100," Downard said. The thrift store start-up owner says since the scanner helps work move along faster, he is able to pay even his entry-level employees above minimum wage. via: https://www.foxbusiness.com/small-business/majority-small-businesses-using-artificial-intelligence

Commerce Secretary Howard Lutnick attempts to calm concerns over Trump's 'gold card' visa pitch

Posted by radio1n1 — Wed, 26 Feb 2025 19:37 GMT

Commerce Secretary Howard Lutnick responded to coverage of President Donald Trump's new "gold card" visa proposal, assuring Americans that applicants would be "vetted" and "bring entrepreneurial spirit, capacity and growth to America." "We said that from the first minute, go - these are vetted people," Lutnick said during an exclusive interview Wednesday on "Special Report." "These are going to be great global citizens who are going to bring entrepreneurial spirit, capacity and growth to America. If one of them comes in, think of the jobs they're going to bring with them, the businesses they're going to bring with them, and they're going to pay American taxes as well. So this is huge money for America." TRUMP'S 'GOLD CARD' VISA PLAN A BOON FOR AMERICAN ECONOMY, EXPERT SAYS: 'MUTUALLY BENEFICIAL' President Trump suggested the introduction of a "gold card" visa on Tuesday afternoon - a potential opportunity for foreign investors to buy their way to American citizenship. The United States currently offers a similar opportunity through the EB-5 Immigrant Investor Program, which was established in 1990 and is administered by the U.S. Citizenship and Immigration Services (USCIS). According to USCIS's website, the visa is open to investors who "make the necessary investment in a commercial enterprise in the United States" and "plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers." Trump's recent suggestion would replace the EB-5 program, and instead, he plans to propose a "gold card" visa to the tune of $5 million. "We are going to be selling a gold card," Trump explained to reporters. "We are going to be putting a price on that card of about $5 million." Lutnick shed light on how Trump's latest pitch came to be, telling Fox News chief political anchor Bret Baier "the president had conversations over the weekend with his friend John Paulson, who came up and said, 'Hey, why aren't we doing better with that?'" "He called me. We talked about it, and I did work over the weekend, and on a Monday, and on Tuesday at a press conference, the president comes out and gives the path." GET FOX BUSINESS ON THE GO BY CLICKING HERE The head of commerce shared that there are roughly 250,000 individuals in line for the "gold card" visa, and priced at $5 million a piece, the current list would come to $1.25 trillion for the United States. "Imagine if we sell a million of them. That's $5 trillion, and that pays off our debt, drives down interest rates and makes America amazing," Lutnick said. More information about the "gold card" is expected to come in the next few weeks. Lutnick shared additional insider perspective on the Trump economic agenda during his exclusive sit-down on "Special Report." FOX Business' Andrea Margolis contributed to this report. via: https://www.foxbusiness.com/media/commerce-secretary-howard-lutnick-attempts-calm-concerns-over-trumps-gold-card-visa-pitch

Boeing eliminates chief operating officer 'legacy' role as part of leadership shift

Posted by radio1n1 — Wed, 26 Feb 2025 19:03 GMT

Boeing on Tuesday confirmed it had switched gears after removing Stephanie Pope from her role as chief operating officer, but she remains the second executive in command who continues to serve as commercial airlines manufacturing chief. A U.S. Securities and Exchange Commission (SEC) filing Tuesday confirmed Pope is no longer the chief operating officer. The new flight plan comes after former CEO Dave Calhoun in late 2023 named Pope COO in anticipation of his retirement. TRUMP RAMPS UP PRESSURE ON BOEING OVER AIR FORCE ONE PROGRAM Months later, Pope was named CEO of Boeing Commercial Airplanes (BCA), the company's largest business. A source familiar with the situation told Fox News Digital on Wednesday that newly appointed president and CEO Kelly Ortberg is not talking about succession, and Ortberg believes Pope is excelling on the key performance indicators that guide production rates. "The COO title was a legacy role going back to Calhoun, and Kelly has made other changes to streamline the organization," the source said. "Stephanie is still leading BCA, the company's second most important leadership role." Boeing told Fox News Digital on Wednesday it does not "have anything to add" to the role change shared in the filing. BOEING'S NEW AIR FORCE ONE DELAYED UNTIL 2029 OR LATER, OFFICIAL SAYS Pope, who has been with the company for three decades, was appointed to the newly established role in December 2023, according to a company biography. Her primary responsibility was leading the commercial airplane business and strengthening safety and quality across its operations. Shortly after her hiring, a cabin door plug blew out of an Alaska Airlines Boeing 737 MAX during a flight on Jan. 5, 2024, prompting Boeing to make improvements. Other recent leadership changes announced last week include a new executive vice president of government operations, global public policy & corporate strategy. Jeff Shockey will fill the role, leading Boeing's global public policy efforts, including federal, state and local government operations and sustainability and the company's global philanthropic organization, Boeing Global Engagement. He will also be responsible for ensuring a "cohesive corporate strategy to communicate Boeing's business interests" and driving engagement with public and private stakeholders, according to a statement from the company. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Jeff's tremendous record of accomplishment across more than 30 years in government, government relations and business development will be an asset as we work to restore trust with key government stakeholders," Ortberg wrote in a statement. He added Shockey's prior experience at Boeing and across the commercial and defense industry "will support our ongoing focus on strengthening our culture and building a new future for Boeing based on a strong foundation of safety, quality and performance." GET FOX BUSINESS ON THE GO BY CLICKING HERE Shockey returned to Boeing after leading global government relations at RTX. Aside from his prior Boeing leadership roles, he served as a staff director of the House Permanent Select Committee on Intelligence, staff director and deputy director of the House Appropriations Committee and other senior staff roles in the U.S. House of Representatives. Shockey will report to Ortberg and serve on the company's executive council. via: https://www.foxbusiness.com/fox-news-air-space/boeing-confirms-chief-operating-officer-stephanie-pope-no-longer-role

Elon Musk takes aim at national debt, warns of 'de facto bankruptcy' without DOGE: '$2 trillion in d

Posted by radio1n1 — Wed, 26 Feb 2025 18:34 GMT

Tesla CEO Elon Musk appeared at President Donald Trump's first Cabinet meeting on Wednesday to discuss his waste-cutting efforts with the Department of Government Efficiency (DOGE) commission. During the meeting, Musk took aim at what he described as $2 trillion in deficits, stating that America "simply cannot sustain" that amount of debt. As of Wednesday, the U.S. national debt has ballooned to $36,220,749,649,855.42. "Just the interest on the national debt now exceeds the Defense Department spending," Musk claimed. "We spend a lot on the Defense Department, but we're spending like $1 trillion on interest." "If this continues, the country will go, become de facto bankrupt." MUSK WEIGHS A 'DOGE DIVIDEND' TO SEND AMERICANS CHECKS USING SAVED FUNDS Musk then described DOGE as "not an optional thing" and argued that it was "central" to reforming the U.S. economy. "That's the reason I'm here," the tech billionaire said. "And taking a lot of flack, and getting a lot of death threats, by the way." "But if we don't do this, America will go bankrupt," Musk continued. "That's why it has to be done. I'm confident at this point, knock on wood... that we can actually find $1 trillion in savings. That would be roughly 15% of the $7 trillion budget. And obviously that can only be done with the support of everyone in this room. And I'd like to thank everyone for the support." DOGE IS LAYING OFF THOUSANDS: WHAT IMPACT WILL HAVE WITH UNEMPLOYMENT AND THE ECONOMY? Musk's recent remarks come as DOGE continues identifying and cutting government waste for the taxpayers' intended benefit. At Wednesday's Cabinet meeting, Musk admitted that DOGE has also made some mistakes, including accidentally canceling the U.S. Agency for International Development's (USAID) Ebola prevention program. GET FOX BUSINESS ON THE GO BY CLICKING HERE "I think we all want Ebola prevention, so we restored the Ebola prevention, and there was no interruption," Musk said. "We won't be perfect. But when we make mistakes, we will fix it very quickly." FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/politics/elon-musk-takes-aim-national-debt-warns-de-facto-bankruptcy-doge-2-trillion-deficits

LARRY KUDLOW: Good economics leads to good politics

Posted by radio1n1 — Wed, 26 Feb 2025 18:25 GMT

Plenty of congrats all the way around, as House Republicans defied conventional wisdom last night and passed a 'one big beautiful bill' budget resolution - including, importantly, the Trump tax cuts. Speaker Mike Johnson and Majority Leader Steve Scalise defied Beltway wisdom, and also Senate Republican wisdom, by getting a bill through quickly. Budget Chair Jodey Arrington deserves a lot of credit for having written the bill. President Donald Trump gets some credit for making a couple of key phone calls. And Treasury Secretary Scott Bessent gets credit for shepherding the bill through the House. Interestingly, not a single House Democrat voted for the bill, which means the entire House Democratic conference favors a $4 trillion plus tax hike. Nice going! Almost ensures their minority status - for quite some time. So now the House and Senate have to get together, and hammer out a compromise - and a group called the 'Big 6' started a meeting on reconciliation today. That group includes the tax-writing chairs Mike Crapo in the Senate and Jason Smith in the House, the two leaders, Senator John Thune and Speaker Mike Johnson, and President Trump's representatives, Treasury Secretary Scott Bessent and National Economic Council Director Kevin Hassett. One key point is whether all the Trump tax cuts, both 1.0 from 2017 and 2.0 from the campaign last year, will be made permanent. Earlier today, I spoke to a Senate Republican leader who would like all the tax cuts made permanent, and he believes most of his conferees agree. Whether they will conform to Mike Crapo's current policy baseline and net out to a neutral deficit impact remains to be seen. But I think the best possible outcome is Crapo's current policy baseline approach, and making all the tax cuts permanent. Also noteworthy is whether DOGE budget cuts, DOGE dividend checks, and DOGE debt reduction will be part of the overall package. And then surely there will be various budget-cutting programs that will get modified around the edges, including the President's crackdown on fraud. But here's the key point: Speaker Mike Johnson's House victory ties together all of President Trump's policy requests. Lower taxes. Lower spending. Fewer regulations. More energy production. Tough border control. And a strong national defense. And the House will now continue to drive the process. One big beautiful bill is what Mr. Trump always wanted. Another point to consider is that this is fundamentally a pro-growth policy mix that will fatten the wallets of the working-class coalition put together by Mr. Trump during his incredibly successful 2024 campaign. And with Mike Johnson's great victory last night, this whole budget package could conceivably be concluded by Memorial Day, which would be a world record. Not only will Mr. Trump be able to tout 'promises made, promises kept' - but his early-term high-velocity Presidential management could guarantee Republican majorities in the off-year 2026 election, as well. I believe, as my first boss Ronald Reagan used to argue, that good economics leads to good politics. The Gipper sure had a successful time of it. Looks like Mr. Trump is following the same path of economic and political abundance. via: https://www.foxbusiness.com/politics/larry-kudlow-good-economics-leads-good-politics

Nvidia sales spike on AI demand

Posted by radio1n1 — Wed, 26 Feb 2025 16:59 GMT

Nvidia forecast first-quarter revenue above market estimates on Wednesday, expecting strong demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure. Its shares sank roughly 1% in choppy extended trading, after closing up 3.7% in regular trading. Nvidia is the biggest beneficiary of a rally in AI-linked stocks, with its shares up more than 400% over the last two years. Because of the effort to ramp the company's flagship Blackwell AI chips, Nvidia forecast first-quarter gross margins will sink to 71%, below the 72.2% forecast by Wall Street, according to data compiled by LSEG. US REPORTEDLY INVESTIGATING WHETHER CHINA'S DEEPSEEK USED RESTRICTED AI CHIPS The company expects revenue of $43 billion, plus or minus 2% for the first quarter, compared with analysts' average estimate of $41.78 billion according to LSEG. Demand has grown for Nvidia's advanced chips that can speedily process the large amounts of data used by generative AI applications, as companies race each other to emerge as leaders of the new technology. Generative AI is a type of artificial intelligence that can learn from data and improve over time. Nvidia's forecast also helps allay doubts around a slowdown in spending on its hardware that emerged last month, following Chinese AI startup DeepSeek's claims that it had developed AI models rivaling Western counterparts at a fraction of their cost. This could add fuel to the sputtering AI rally after the Magnificent Seven stocks' tumultuous retreat from their late-2024 peaks as Wall Street's optimism waned under the shadow of DeepSeek's innovations. GET FOX BUSINESS ON THE GO BY CLICKING HERE Nvidia reported adjusted per-share profit of 89 cents, compared with estimates of 84 cents a share. Revenue for the fourth quarter grew 78% to $39.3 billion, beating estimates of $38.04 billion. via: https://www.foxbusiness.com/markets/nvidia-sales-spike-ai-demand

US, Ukraine agree on rare earth minerals deal to 'intertwine' two economies

Posted by radio1n1 — Wed, 26 Feb 2025 16:45 GMT

Ukraine and the U.S. have reached an agreement on a rare earth minerals deal, Fox News can confirm. The deal, which was initialed by the Ukrainians on Wednesday, will be signed officially in the Oval Office by Presidents Trump and Zelenskyy. The Ukrainian leader is slated to visit the White House on Friday. Fox News learned Wednesday that no security agreement was spelled out in the final document, but that will likely be finalized during the wider negotiations. The deal, which was first offered by the White House during Treasury Secretary Scott Bessent's visit to Ukraine earlier in February, will "intertwine" the two economies, he said. UKRAINE MINERALS DEAL COULD BE MODEL U.S. USES WITH OTHER COUNTRIES "It is a win-win, as the American people have a stake in the recovery of the Ukrainian economy post this conflict," Bessent told Maria Bartiromo on Fox News' "Sunday Morning Futures" ahead of the agreement. "And we will get to the other side of this conflict, then they, the U.S., will share in the benefits." Ukraine is rich in natural resources, including what is considered Europe's largest block of titanium used in military aircraft and lithium used in electric batteries, among others. Trump is seeking a 50% cut of extractions. The country also has a large untapped natural gas reserve, according to experts. Bessent said they'll work to process the minerals in the U.S. or Europe, not China, where it currently takes place. As of mid-2024, Congress has approved $175 billion in aid and military assistance to the Ukrainian government since Russia's invasion in February 2022, according to the nonpartisan Committee for a Responsible Federal Budget. "The real payoff will be when the conflict ends and there is the rush to rebuild Ukraine," the treasury secretary told FOX Business' Edward Lawrence in an exclusive interview during his trip to Ukraine. Wall Street firms including JPMorgan and BlackRock have reportedly discussed investing in the war-torn region, as reported by FOX Business in 2023. GET FOX BUSINESS ON THE GO BY CLICKING HERE Following Bessent's visit, Trump blasted Zelenskyy, saying he's "had it" with the wartime leader. via: https://www.foxbusiness.com/politics/us-ukraine-agree-rare-earth-minerals-deal-intertwine-two-economies

Musk says DOGE will quickly fix mistakes it makes in cutting programs

Posted by radio1n1 — Wed, 26 Feb 2025 16:00 GMT

Billionaire Elon Musk, who President Donald Trump has tasked with leading the Department of Government Efficiency (DOGE), spoke at the new administration's first Cabinet meeting on Wednesday and said that DOGE may make some mistakes, but it will work quickly to fix them. "I should say we'll also make mistakes. We won't be perfect. But when we make mistakes, we will fix it very quickly," Musk said. "So, for example, with USAID, one of the things we accidentally canceled very, very briefly was Ebola, Ebola prevention. I think we all want Ebola prevention, so we restored the Ebola prevention, and there was no interruption," he added. Ebola is a viral hemorrhagic fever that is highly infectious and carries a high mortality rate among people who are infected. The U.S. Agency for International Development (USAID) was one of the first DOGE targets after the Trump administration took office, with the administration looking to move the agency under the oversight of the State Department. In that process, the Trump administration will retain some USAID staffers to continue running life-saving programs, while other programs are ended and workers laid off. WHAT IS USAID AND WHY IS IT IN TRUMP'S CROSSHAIRS? Musk said on X Spaces on Feb. 3 that he and Trump decided to make cuts at USAID after it "became apparent that it's not an apple with a worm in it. What we have is just a ball of worms. You've got to basically get rid of the whole thing. It's beyond repair." He wrote in a follow-up post on X that "the worms are crawling to their pet politicians to save them." Musk said at a previous appearance in the Oval Office with Trump that DOGE "would not bat 1,000" and that he wanted to be corrected when he made mistakes. DOGE recently began posting examples of its spending cuts, but made edits to the list after questions were raised about its accuracy after one contract was listed as saving $8 billion even though it was actually for $8 million. DOGE IS LAYING OFF THOUSANDS: WHAT IMPACT WILL HAVE WITH UNEMPLOYMENT AND THE ECONOMY? At Wednesday's Cabinet meeting, Musk said the need to make rapid changes at agencies and potentially make mistakes in the process is due to the size of the federal budget deficit. "We do need to move quickly if we're going to achieve $1 trillion deficit reduction in financial year 2026. It requires saving $4 billion per day, from now through the end of the year. But we can do it, and we will do it," Musk said. MUSK WEIGHS A 'DOGE DIVIDEND' TO SEND AMERICANS CHECKS USING SAVED FUNDS Musk and Trump have previously expressed an openness to potentially sending "DOGE dividends" to American taxpayers, though Musk later said curbing the roughly $2 trillion annual deficit has to be the priority. "The overall goal here with the DOGE team is to help address the enormous deficit. We simply cannot sustain, as a country, $2 trillion deficits," Musk said Wednesday. "Just the interest on the national debt now exceeds the Defense Department's spending. We spend a lot on the Defense Department, but we're spending, like, $1 trillion on interest." "If this continues, the country will go and become de facto bankrupt. It's not an optional thing. It is an essential thing. That's the reason I'm here, and taking a lot of flak, and getting a lot of death threats, by the way," he said. GET FOX BUSINESS ON THE GO BY CLICKING HERE "If we don't do this, America will go bankrupt. That's why it has to be done. I'm confident at this point... that we can actually find $1 trillion in savings. That would be roughly 15% of the $7 trillion budget," Musk said. "And obviously, that can only be done with the support of everyone in this room." via: https://www.foxbusiness.com/politics/musk-says-doge-quickly-fix-mistakes-makes-cutting-programs

Forever 21 likely to shutter remaining stores with second bankruptcy nearing

Posted by radio1n1 — Wed, 26 Feb 2025 15:08 GMT

Fast fashion retailer Forever 21, on the brink of filing for bankruptcy protection for the second time, is expected to shutter all of its stores as a result. Sarah Foss, head of legal at Debtwire, projects that the retailer could file for Chapter 11 within the next few weeks, if not sooner, and will liquidate its assets, including all 350 of its stores, as part of that process. "A Chapter 11 liquidation appears to be the most likely scenario for the retail chain as a going concern buyer for its U.S. assets and leases has not yet emerged," said Foss, who explained that a liquidation would have a significant impact, not only on the company's workforce, but also on shopping malls nationwide which have been hamstrung in recent years amid a shift to online shopping. Earlier this week, a source familiar with the matter told Bloomberg that the company is already preparing to close at least 200 locations as part of the bankruptcy process. PRESSURE FROM SHEIN, TEMU ACCELERATE RETAIL CLOSURES The clothing chain, according to Foss, has faced issues since its first trip through bankruptcy in September 2019, during which it closed over 100 of its 534 stores and sold the rest to a consortium of buyers. Forever 21 owners Authentic Brands Group and Simon Property Group, created a joint venture, Sparc Group, to keep the company alive in 2019. In January, Sparc Group teamed up with JCPenney to form a new organization, Catalyst Brands. Debtwire data shows that the retail sector has continued to face challenges, with 20 Chapter 11 filings since the beginning of 2024. The company has also seen a particular rise in "Chapter 22 filings," which refers to companies that have entered bankruptcy for a second time. About 25 companies have done so since 2016, according to Debtwire data. Specifically, Foss is blaming the downfall of Forever 21 on competition from low-cost fashion retailers like Shein and Temu, coupled with the "sizable stores that are expensive to operate." US RETAIL CLOSURES HIT HIGHEST LEVEL SINCE PANDEMIC Coresight Research, a firm specializing in retail and technology, in January estimated that closures will rise to 15,000 in 2025, in large part because of "specifically the competitive pressures" from fast fashion platforms Shein and Temu. The rival companies have risen in prominence in recent years as inflationary consumers leveraged their cheap prices. Both companies offer a range of products and clothing at low prices, though they have faced fierce criticism over labor practices, environmental concerns and business ethics such as intellectual property infringement. GET FOX BUSINESS ON THE GO BY CLICKING HERE However, Foss said that even if Forever 21 retail locations were to shut down, it wouldn't mark the end of the company. "The brand and intellectual property are still owned by Authentic Brands Group and may not be part of a bankruptcy liquidation. Indeed, the intellectual property can have significant value even as distressed sales are occurring," said Foss. via: https://www.foxbusiness.com/retail/forever-21-likely-shutter-remaining-stores-second-bankruptcy-nearing

Anti-DEI groups criticize Apple shareholder vote to keep programs, contributions to progressive grou

Posted by radio1n1 — Wed, 26 Feb 2025 14:31 GMT

The advocacy groups and corporate engagement advisors who called on Apple to abandon diversity, equity and inclusion (DEI) initiatives hit back against a failed shareholder vote to nix the respective programs. During Tuesday's shareholder meeting, voters made clear they didn't want to scrap DEI initiatives at the tech company after the Apple board urged them to vote "no" on proposals asking the tech corporation to evaluate its contributions to progressive groups and end diversity programs, policies, departments and goals. "For far too long, Americans with mainstream religious and political views have watched from the sidelines while the very companies we rely on - and in many cases, own through our investment and retirement portfolios - have been weaponized against us," Alliance Defending Freedom Senior Vice President of Corporate Engagement Jeremy Tedesco said following the vote. "But that is changing. We're off the sidelines and in the game. Today's meeting at Apple leaves no doubt that we are beginning to set the agenda for the corporations we own." "Unfortunately, Apple executives have not shown a willingness to provide a basic level of transparency to their own shareholders," he continued. Proposal 6, found within Apple's "Notice of 2025 Annual Meeting of Shareholders," suggested that these practices pose "obvious risks" and that the company's omission of "equity" from program titles is "meaningless" since it still expresses multiple explicit commitments to "equity." Stefan Padfield, executive director of the National Center for Public Policy Research's Free Enterprise Project (FEP), who put forth the proposal, also claimed that Apple's policies are consistent with, "if not more radical than," most corporate DEI programs. He also highlighted how Alphabet, Meta, Microsoft and Zoom are just a handful of companies that have rolled back DEI efforts. During the meeting, Padfield claimed DEI ideology "routinely discriminates on the basis of race, sex, and other demographic categories," calling the programs "illegal and immoral." META POLICY CHIEF SAYS DECISION TO END DEI ENSURES COMPANY HIRES 'THE MOST TALENTED PEOPLE' "The vibe shift is clear. DEI is out. Merit is in," he said, referencing President Donald Trump's recent executive order on diversity programs. Meanwhile, Proposal 7, entered by Wayne Frantzen, who Inspire Investing LLC represents, criticized Apple's contributions to progressive organizations. The vote to analyze and evaluate Apple's "charitable givings" to these groups also failed to pass. The proposal, in part, criticized Apple's contributions to groups like the Human Rights Campaign (HRC) and the Southern Poverty Law Center (SPLC), which the shareholder says uses its "hate map" and "hate watch" to target political and religious groups, as well as individuals. In particular, SPLC criticisms specifically target Moms for Liberty, The Family Research Council, Dr. Ben Carson and more. Inspire Investing CEO Robert Netzly also highlighted the HRC's requirements regarding sex-reassignment therapies for children. "The HRC currently requires that companies pay for life-altering and experimental puberty-blocking drugs and cross-sex hormones for children as part of their healthcare plan to earn a coveted 100 percent on its so-called 'Corporate Equality Index,'" CEO of Inspire Investing Robert Netzly said in a press conference following the vote.. "The HRC index touts 765 businesses - including Apple - that bow to this demand, but it couldn't be further out of step with most shareholders." GROUP OF DEI WORKERS SUE TO STOP TRUMP EXECUTIVE ORDERS "Nearly 7 in 10 Americans oppose puberty blockers for young children and the U.S. Supreme Court is currently considering whether to uphold a Tennessee law protecting children from this practice, with similar laws in a total of 27 states likely affected by the decision," he added. The shareholder proposal pointed to companies, including Walmart, Target, John Deere, Harley-Davidson, Lowes, Home Depot, Ford and Toyota that have already taken steps to refocus their charitable giving to respect the diverse views held by their customers and employees. Many have also cut ties with the HRC as part of this effort. "It's not too much for shareholders to request transparency on how the companies we own are spending our money," Netzly said. "We invest in Apple because of the excellence in goods and services the company provides - not because we want them to fund groups that undermine our freedoms and advocate for radical policies that we oppose with every fiber of our being." "We hope other companies learn from Apple's mistakes," he added. "Rather than running from their own shareholders, it's time for company leaders to look us in the eye and provide meaningful transparency." Earlier this week, the Apple board recommended that shareholders vote "no" on proposals 6 and 7. Their statements, among other things, stressed that the board and management maintain active oversight of legal and regulatory risks and compliance for global business. The board also called the two proposals "unnecessary" and inappropriate attempts to restrict Apple's ordinary business operations. MARK ZUCKERBERG'S PHILANTHROPY ENDS DEI PROGRAMS, SOCIAL ADVOCACY EFFORTS The 2024 edition of the Viewpoint Diversity Score Business Index, a project of ADF, claimed that 62% of scored companies, including Apple, support nonprofits that are influencing public policy by actively attacking free speech and religious freedom. Tedesco, looking back on the failed proposals, suggested the fight will continue. "It's not a matter of adopting the proposal," he said. "It's a matter of setting the agenda at the shareholder meeting and with corporate leaders around the things that shareholders are concerned about. This doesn't end just because Apple doesn't produce the report or adopt the proposal. This is the beginning of a conversation and it's going to be a long one until we see the changes that we want from this company." Fox News Digital reached out to HRC, SPLC and Apple for comment, but did not immediately hear back. Fox News' Nik Lanum contributed to this report. CLICK HERE TO READ MORE ON FOX BUSINESS via: https://www.foxbusiness.com/media/anti-dei-groups-criticize-apple-shareholder-vote-keep-programs-contributions-progressive-groups

Costco announces 9 new stores opening in 2025, starting with 6 in March

Posted by radio1n1 — Wed, 26 Feb 2025 12:22 GMT

Costco is opening nine new warehouse stores this year around the world, with six beginning operations in cities across the U.S. in the coming weeks. According to an announcement on the company's website, stores are set to open in Brentwood, California; Highland, California; Prosper, Texas; Weatherford, Texas; Genesee County, Michigan; and Sharon, Massachusetts, in March 2025. Stuart, Florida, will get a store of its own the following month, as will Minami Alps in Japan. COSTCO CHAIRMAN REVEALS SURPRISING LUXURY ITEMS THAT FLY OFF THE SHELVES: 'AFFLUENT PEOPLE LOVE A GOOD DEAL' Later this year, with no determined date, a Costco is coming to Ardeer, Australia. COSTCO ROLLING OUT GAME-CHANGING NEW FEATURE ON MOBILE APP "We continue to project 29 openings during fiscal year '25, of which three will be relocations and so 26 net new buildings," Costco CEO and President Ron Vachris said in a December 2024 earnings call. "Ten of those warehouses will be outside of the U.S." Costco's January sales results reported net sales of $19.51 billion for the retail month of January, which is a 9.2% increase from last year. The retailer currently operates 897 warehouses worldwide. "We see some great opportunities in Canada and Mexico have been strong countries for us. We continue to see growth opportunities both in Europe and Asia, as well," Vachris said during the December 2024 earnings call. CLICK HERE TO READ MORE ON FOX BUSINESS Costco's next earnings call and sales results will be released on March 6. via: https://www.foxbusiness.com/economy/costco-announces-9-new-stores-opening-2025-starting-6-march

BP to boost oil and gas spending by $10B, slash renewable investment in major strategy shift

Posted by radio1n1 — Wed, 26 Feb 2025 12:07 GMT

BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and shareholder returns. The oil company cut its planned annual investment in energy transition businesses by more than $5 billion, from its previous forecast, to between $1.5 billion and $2 billion per year. It is the latest big company in the energy sector to change its position in response to the need to lower carbon emissions and curb climate change, returning the focus to oil and gas. TRUMP TARIFF THREATS ON CANADIAN OIL COULD IMPACT THREE US REGIONS, GAS ANALYST SAYS BP now aims to grow oil and gas production to between 2.3 million and 2.5 million barrels of oil equivalent per day (boepd) in 2030. It pumped 2.36 million boepd in 2024. "It's a radical shift," CEO Murray Auchincloss told Reuters in a phone interview after the announcements during the company's capital markets day. Under Auchincloss' predecessor, Bernard Looney, BP pledged in 2020 to cut oil and gas output by 40% while rapidly growing renewables by 2030. It lowered that target to 25% in 2023. Auchincloss said the transition to renewable energy has been slower than BP initially expected following the war in Ukraine, the pandemic, volatile energy markets and changing attitudes towards renewable energy in some countries. "What that meant is hydrocarbon demand continues to be very, very strong, stronger than we would have envisioned five years ago, and the transition has not proceeded at the pace we would have thought," he said. BP is seeking to regain investor confidence after underperforming its peers and has come under added pressure to make transformative changes after activist investor Elliott Investment Management built a stake in the company. "Three big things we've done: reducing capex, reducing costs, material divestment with an outcome of growing cashflow and returns," Auchincloss said. "We will be very selective in our investment in the transition, including through innovative capital-light platforms. This is a reset BP, with an unwavering focus on growing long-term shareholder value." BP plans to raise its dividend by at least 4% per share annually and expects first-quarter share buybacks of $750 million to $1 billion, a downward revision from its previous $1.75 billion forecast. It aims to spend between $13 billion and $15 billion annually through 2027, trimming $1 billion to $3 billion from 2024 levels, with 2025 capital expenditure expected at around $15 billion. BP shares were down about 1.7% by 1258 GMT, while the broader energy index .FTNMX601010 was marginally lower. "The updated guidance directionally all looks in line with expectations, however we think the capex cut was less material than many investors were suggesting to us, while in the near term, shareholder returns for BP are now lower than peers," said RBC Capital Markets analyst Biraj Borkhataria. GET FOX BUSINESS ON THE GO BY CLICKING HERE "To us, much of the release looks to be BP making the right calls for the long term, but it may not please investors today," Borkhataria added. BP also said it was reviewing its lubricants business, Castrol, and targeting $20 billion in divestments by 2027. It plans to bring in a 50% partner for its solar business, Lightsource BP, with a sale process expected in the next few months. via: https://www.foxbusiness.com/energy/bp-boost-oil-gas-spending-10b-slash-renewable-investment-major-strategy-shift

BlackRock drops DEI references from annual report

Posted by radio1n1 — Wed, 26 Feb 2025 12:00 GMT

BlackRock became the latest firm to remove references to its diversity, equity and inclusion (DEI) strategy in its annual report. The world's largest asset manager released its annual report on Tuesday and references to DEI policies that appeared in prior editions of BlackRock's annual reports were absent. BlackRock CEO Larry Fink was previously a proponent of DEI policies, which his firm has now joined several others in removing from corporate documents. In its 2023 annual report, BlackRock had a section focused on DEI and said that it "believes a diverse workforce with an inclusive and connected culture is a commercial imperative and indispensable to its success. Ultimately, a dynamic, inclusive organization allows BlackRock to attract and retain top talent around the world and to stay ahead of its clients' needs." SEVERAL STATE OFFICIALS DEMAND FEDS PROTECT AMERICANS' RETIREMENT PLANS BY CLEARLY REGULATING ESG INVESTMENTS BlackRock's annual report from 2023 also referenced how the firm's "three pillar DEI strategy is aligned with the firm's business priorities and long-term objectives." It also included data about the self-identified gender and racial demographics of the company's workforce, along with a geographic breakdown. The latest annual report omits the gender and racial demographics and only includes a geographic breakdown. LARRY FINK SAYS FED WON'T CUT INTEREST RATES AS MUCH AS PEOPLE THINK, WARNS INFLATION 'EMBEDDED' FOX Business reached out to BlackRock for comment on the shift and the firm provided a quote from the connectivity and inclusivity section of its latest annual report. "BlackRock's approach to building a connected and inclusive culture is aligned with the firm's business priorities and long-term objectives. Delivering for the firm's clients requires attracting the best people from across the world. BlackRock is committed to creating an environment that supports top talent and fosters diverse perspectives to avoid groupthink," the company wrote. DEI policies have sparked political controversy among critics who view them as a move away from meritocracy. They have also encountered legal headwinds as a result of court rulings that have prompted companies as well as colleges and universities to eliminate DEI goals. Last month, President Donald Trump signed an executive order that instructed federal agencies to investigate corporate DEI programs on the grounds of potential civil rights violations. GET FOX BUSINESS ON THE GO BY CLICKING HERE A federal judge blocked part of that order in a ruling issued Tuesday, agreeing with a group of plaintiffs that the order could be unconstitutional because it focuses on probing DEI programs that could violate federal law without also restricting anti-DEI programs that may violate antidiscrimination laws. via: https://www.foxbusiness.com/politics/blackrock-drops-dei-references-from-annual-report

President Trump calls on Apple to abandon DEI 'hoax' following shareholder vote

Posted by radio1n1 — Wed, 26 Feb 2025 11:05 GMT

President Donald Trump is calling on Apple to abandon its diversity, equity and inclusion (DEI) initiatives, claiming that these programs are "very bad" for the U.S. On Tuesday, shareholders rejected an attempt to scrap DEI initiatives at the tech behemoth. Following the vote, Trump called out Apple and characterized DEI as a "hoax." APPLE'S DEI PROGRAM WILL LIVE ON FOLLOWING FAILED SHAREHOLDER VOTE "Apple should get rid of DEI rules, not just make adjustments to them. DEI was a hoax that has been very bad for our country. DEI is gone!!!" the president wrote Wednesday morning on Truth Social. During Tuesday's shareholder vote, Stefan Padfield, executive director of the National Center for Public Policy Research's Free Enterprise Project (FEP), claimed DEI "routinely discriminates on the basis of race, sex, and other demographic categories," calling said programs "illegal and immoral." "The vibe shift is clear. DEI is out. Merit is in," he said, referencing Trump's recent executive order on diversity programs. PEPSI DROPS DEI CHIEF, REPRESENTATION GOALS - BUT NOT EVERYONE IS CONVINCED The National Center for Public Policy Research previously claimed that Apple's policies are consistent with, "if not more radical than," most corporate DEI programs. On Friday, a federal judge granted a preliminary injunction over parts of the Trump administration's executive orders on DEI. The injunction largely blocks the sections of Trump's orders that seek to end federal support for programs deemed to be DEI-related and prevents the Trump administration from canceling contracts that they believe promote these programs. META POLICY CHIEF SAYS DECISION TO END DEI ENSURES COMPANY HIRES 'THE MOST TALENTED PEOPLE' Trump's day one executive order directed the federal contracting process to "be streamlined to enhance speed and efficiency, reduce costs, and require Federal contractors and subcontractors to comply with our civil-rights laws." The order also commanded the Office of Federal Contract Compliance to "immediately cease" promoting "diversity," as well as any encouragement of federal contractors and subcontractors to engage in affirmative action-like efforts that consider race, color, sex, sexual preference, religion or national origin when making hiring decisions. Trump's remarks about Apple serve as a rare criticism of the company. In his first term, Trump and Apple CEO Tim Cook formed a relatively close relationship that has continued into the new administration. Apple did not immediately return FOX Business' request for comment. CLICK HERE TO READ MORE ON FOX BUSINESS Fox News' Brie Stimson contributed to this report. via: https://www.foxbusiness.com/media/president-trump-calls-apple-abandon-dei-hoax-shareholder-vote

DOGE is laying off thousands: what impact will it have with unemployment and the economy?

Posted by radio1n1 — Wed, 26 Feb 2025 10:57 GMT

Elon Musk's Department of Government Efficiency (DOGE) is working to cut the federal workforce through layoffs and buyouts, as well as canceling contracts to save money, which has raised the question of whether the cuts could push unemployment higher and create a headwind for the U.S. economy. President Donald Trump's administration has tasked Musk and DOGE with finding ways to reduce costs and increase the efficiency of federal agencies. The administration extended buyout offers to federal workers shortly after taking office, while various agencies have announced layoffs of probationary employees and placed some workers on administrative leave ahead of a potential layoff. Those actions could create new challenges for the U.S. economy in terms of the labor market if large numbers of federal workers or contractors end up out of work and unable to find other jobs. Dante DeAntonio, labor economist for Moody's Analytics, told FOX Business that the firm expects federal workforce reductions to continue over the course of the year and that while some of the displaced workers could find private sector jobs, the magnitude and timing of further cutbacks will determine whether the broader labor market starts to falter. CONSUMER CONFIDENCE SLUMPS IN FEBRUARY WITH BIGGEST MONTHLY DROP IN NEARLY 4 YEARS "We estimate that about 100,000 federal workers have already been laid off or have accepted the deferred buyout offered by the Trump administration," DeAntonio explained. "The approximately 75,000 workers who agreed to the deferred buyout are supposed to be paid through September, so their impact on the labor market will be delayed. About 25,000 federal workers have been laid off or put on administrative leave, with a layoff likely to follow." "These numbers are almost certain to grow in the coming weeks and months, and we will start to see the impact of these layoffs, first in unemployment insurance claims data, and later, they will result in slower payroll employment growth," he added. AMERICA'S WEALTHIEST HOUSEHOLDS DRIVING NEARLY HALF OF CONSUMER SPENDING: MOODY'S DeAntonio noted that the federal government has about 3 million workers, excluding the military, as of the start of 2025. Federal workers account for about 1.9% of U.S. payrolls, and he said that the "private sector should be able to absorb some of these workers." "The biggest risk is that the layoffs we have seen so far are just the tip of the iceberg. The magnitude and timing of future layoffs will determine whether the labor market can stay on the rails," DeAntonio explained. "We currently expect that the size of the federal workforce will shrink by about 400,000 throughout 2025 due to a combination of the ongoing hiring freeze, deferred resignations, and DOGE-initiated layoffs." DOGE CLAIMS $65B IN TOTAL ESTIMATED SAVINGS AS 'AGENCY EFFICIENCY LEADERBOARD' IS LAUNCHED Torsten Slok, a partner and chief economist at Apollo Global Management, wrote in a post published on Saturday that "we are starting to worry about the downside risks to the economy and markets" and cited "the impact of DOGE layoffs and contract cuts on jobless claims" as one of those factors along with elevated policy uncertainty. Slok wrote that the "consensus expects total DOGE-related job cuts to be 300,000" and noted that while unemployment claims have been rising in Washington, D.C., they have not increased when combining Washington, D.C., with Maryland and Virginia, where large numbers of federal employees work. "Total employment in the United States is 160 million, with 7 million unemployed. Also, about 5 million people change jobs every month. In that context, 300,000 federal jobs lost is not much," Slok explained. "However, studies show that for every federal employee, there are two contractors. As a result, layoffs could potentially be closer to 1 million." GET FOX BUSINESS ON THE GO BY CLICKING HERE "Any increase in layoffs will push jobless claims higher over the coming weeks, and such a rise in the unemployment rate is likely to have consequences for rates, equities, and credit," Slok added. via: https://www.foxbusiness.com/economy/doge-laying-off-thousands-what-impact-have-unemployment-economy

Who is DOGE's newly identified administrator Amy Gleason? 'World-class talent'

Posted by radio1n1 — Wed, 26 Feb 2025 09:51 GMT

The White House confirmed on Tuesday that Amy Gleason is serving as the acting administrator of the Department of Government Efficiency (DOGE) after weeks of questions over who is serving in that role in the agency led by Tesla CEO Elon Musk. Gleason, 53, is a career official who previously worked in the Trump administration's U.S. Digital Service during President Donald Trump's first term before leaving to work at firm Russell Street Ventures, which was founded by Brad Smith, another DOGE leader. Gleason rejoined the digital service late last year and was looped into DOGE conversations by Smith, The New York Times reported. Gleason's work at the service during Trump's first term included work with the Health and Human Services Department, where she worked on the coronavirus response. 21 FEDERAL DIGITAL SERVICE STAFFERS RESIGN, REFUSE TO HELP DOGE Gleason has worked for many years on health care reform, which, according to an archived post on the Obama White House website, was inspired by being a caregiver to her daughter who suffers from a rare medical disorder. "Amy Gleason began her career in nursing and then discovered a passion for technology. She recognized that technology can improve healthcare, and spent years building and implementing electronic medical record and practice management technologies," the website states. "In June 2010, her daughter was diagnosed with a rare autoimmune disorder, which opened her eyes to an entirely new set of challenges in the healthcare system. In her role as caregiver, she was responsible for keeping her daughter's care organized, efficient, and effective. As the Chief Operating Officer of CareSync, Amy draws on these experiences to help patients and their families better coordinate care and improve health outcomes. Additionally, Amy proudly volunteers as the Vice President of Research for the Cure JM Foundation, a nonprofit that funds research, raises awareness, and supports families of children with Juvenile Myositis." MEET THE FAR-LEFT GROUPS FUNDING ANTI-DOGE PROTESTS AT GOP OFFICES ACROSS THE COUNTRY Gleason shared her frustrations with how the healthcare system handles such diseases in a 2020 TED talk and called for technology and data changes that could help patients and doctors. She worked as vice president for research at the Cure JM Foundation from 2014 to 2018, according to her LinkedIn profile. She was also a co-founder and executive at Care Sync, a telehealth company based in Florida. The New York Times reported that Gleason has overseen an overhaul of the digital service agency in recent weeks that merged it with DOGE and that Gleason has met regularly with DOGE officials in the Eisenhower Office Building. "I've enjoyed knowing her professionally," longtime healthcare executive Laurie Smith told the Washington Post. "She is action-oriented and practical." Aneesh Chopra, a former chief technology officer in the Obama administration who worked with Gleason on various initiatives, told the outlet that she is a "world-class talent." Gleason's LinkedIn lists her as being from Nashville, Tennessee, and having studied at the University of Tennessee. "Experienced executive with a demonstrated history of improving healthcare technology, including electronic medical records, practice management, patient solutions, interoperability, and federal civic tech," the page reads. "My work is inspired by my firsthand experience navigating the healthcare system as a patient and a caregiver, and I am passionate about creating a better healthcare experience and improving health outcomes." Gleason did not immediately respond to Fox News Digital's request for comment. Gleason's identity was revealed after a reporter pressed White House press secretary Karoline Leavitt on who is actually running DOGE and asked if Musk was the administrator of the agency. Fox News Digital's Greg Wehner and The Associated Press contributed to this report. via: https://www.foxbusiness.com/politics/who-doges-newly-identified-administrator-amy-gleason-world-class-talent

Expect more restaurant bankruptcies in 2025, expert says

Posted by radio1n1 — Wed, 26 Feb 2025 09:05 GMT

A growing number of major restaurant chains will likely continue to file for bankruptcy protection over the coming years as the industry struggles to manage the heavy debt it accumulated during the COVID-19 pandemic, according to bankruptcy attorney Daniel Gielchinsky. "Restaurants that exist today may not exist in five years. They'll be off the map," Gielchinsky said. Additionally, consumers will "see a lot of restaurants with a decreased footprint," he added. The latest victim could be Hooters of America, which is considering filing for bankruptcy as a means of restructuring the restaurant chain and tackling its debt, sources recently told Bloomberg. The company would be the latest in a growing list of major chains such as TGI Friday's, Denny's, Ruby Tuesday, Rubio's Coastal Grill and Red Lobster that have filed for protection in bankruptcy court. Other companies, including those that didn't file for bankruptcy protection, significantly reduced their footprint to position themselves better in the current environment. Wendy's, for instance, announced in November that it was shuttering 140 underperforming locations through the end of 2024 as it looks to improve its "restaurant footprint and overall system health." HOOTERS LOOKING AT POSSIBLE BANKRUPTCY FILING Gielchinsky said that "small restaurants and mom-and-pop restaurants are going under too." Several factors led to their downfall, according to Gielchinsky, founder and partner of South Florida-based DGIM Law. However, the COVID-19 pandemic was the catalyst, as the industry saw traffic decline significantly. Operators wanted to keep their doors open, so they had to cover costs like rent, insurance, and payroll, even though customers weren't coming in. To stay afloat, restaurants relied on government subsidies but also on taking out loans to fund business expenses. This meant that companies accumulated debt that they had to pay back over time plus interest. "There is no escaping borrowing, you are always going to have to pay that money back or wind up in bankruptcy and reorganize the structure of the debt," Gielchinsky said. RED LOBSTER IS BACK; CEO PLOTS FUTURE FOR SEAFOOD CHAIN The problem, however, is that the industry expected consumer spending at restaurants to return to pre-pandemic levels once things returned to normal. When that didn't happen, debt-ridden restaurants were unable to repay those loans, according to Gielchinsky. Top-line revenue never rebounded, according to Gielchinsky, who said that "customers never came back in full force" due to changes in their habits and spending ability. Consumers became accustomed to eating at home more and saving their disposable income for other things, which led them to stop going out to restaurants three to four times a week. On top of that, inflation was hitting consumers harder, especially lower-income households, which make up a significant portion of quick-service restaurant customers. He also added that the popularity of weight-loss drugs is playing a role. The drugs have convinced more people to rely on healthier habits such as cooking at home. CLICK HERE TO READ MORE ON FOX BUSINESS Major heavy hitters in the industry have reported a decline in store sales in back-to-back quarters. David Gibbs, the CEO of Yum! Brands, parent of KFC, Taco Bell and Pizza Hut, told analysts earlier this month that sales at KFC stores declined 2% during the fiscal year. During the last three months of the year, sales remained flat compared with the same period last year. McDonald's CEO Chris Kempczinski previously warned that while it anticipated a challenging environment in 2024, its performance for the year had fallen short of its expectations. The company rolled out a new value menu at its restaurants in a bid to rejuvenate traffic. In its earnings call earlier this month, McDonald's CFO Ian Frederick Borden said the company's "2025 outlook reflects the current environment of softer, declining restaurant industry traffic in the U.S." via: https://www.foxbusiness.com/economy/expect-more-restaurant-bankruptcies-2025-expert-says