OUR DAILY POST

Trump meets with Japan's first female leader, signs rare earth, critical minerals supply

Posted by radio1n1 — Tue, 28 Oct 2025 00:14 GMT

President Donald Trump and Japan Prime Minister Sanae Takaichi on Tuesday signed a framework agreement for securing the supply of critical minerals and rare earths through mining and processing, the White House said. The agreement came after Trump's meeting with Japan's first female leader, as part of his wider trip to Asia. Both Washington and Tokyo are looking to strengthen their supply chains for rare earth elements, which are used everywhere, from renewable energy to electronics and cars. According to the White House, Japan and the U.S. plan to coordinate investment and policy efforts to develop more diversified and transparent markets for critical minerals and rare earth elements. Within six months, Washington and Tokyo plan to identify and fund new mining and processing projects for key materials like magnets and batteries. The agreement also creates a joint "Rapid Response Group" to spot and supply vulnerabilities and coordinate emergency deliveries of critical materials. TRUMP THREATENS 'MASSIVE' CHINA TARIFFS, SEES 'NO REASON' TO MEET WITH XI Under the agreement, Japan and the U.S. will streamline and expedite permitting processes for critical minerals and rare earths. The agreement also commits both countries to address foreign trade distortions and unfair market practices. The White House said Washington and Tokyo would explore a joint stockpiling arrangement and work with other partners to strengthen supply chain security. TRUMP CALLS XI'S RARE EARTH MOVE A 'BAD MOMENT' - WHY IT MATTERS FOR US NATIONAL SECURITY, CHINA TIES Both governments said they'll coordinate with "like-minded partners," language seen as a nod to Australia and the European Union, as they try to build a market alternative to China's near-monopoly over rare earth processing. China currently dominates the global rare earths market, processing more than 90% of these materials. Beijing recently ratcheted up export curbs, including new elements on its control list and tightened oversight of foreign producers that rely on China's materials. During Tuesday's meeting with Trump, Japan's new prime minister called for a "new golden age" in the U.S.-Japan alliance and announced Japan will gift 250 cherry trees to Washington next year to mark America's 250th anniversary. The U.S., meanwhile, has only one operational rare earth mine and is racing to secure vital minerals for electric vehicles, defense systems and advanced manufacturing. CLICK HERE TO GET FOX BUSINESS ON THE GO As part of his Asia trip, Trump is scheduled to meet with Chinese President Xi Jinping on Thursday. via: https://www.foxbusiness.com/politics/trump-meets-japans-first-female-leader-signs-rare-earth-critical-minerals-supply

Chegg cuts 45% of staff as AI reshapes online learning business

Posted by radio1n1 — Tue, 28 Oct 2025 00:12 GMT

Chegg Inc., a Santa Clara-based online learning platform, said Monday it will cut about 45% of its workforce - roughly 388 employees - as it confronts what it calls "the new realities of AI and reduced traffic from Google to content publishers." In its official statement, the company said the restructuring plan reflects "a significant decline in Chegg's traffic and revenue," which it has attributed to shifts in generative AI and changing search patterns. Chegg said the layoffs will reduce reduce 2026 non-GAAP expenses by about $100 million to $110 million and result in charges of $15 million to $19 million, mostly in cash severance. It expects to provide more information during its third-quarter earnings call on Nov. 10. LAID OFF? HERE'S WHY LOSING YOUR JOB MIGHT BE THE BEST BREAK OF YOUR LIFE Executive Chairman Dan Rosensweig will return as president and chief executive officer, effective immediately, as part of the overhaul. Nathan Schultz, who succeeded Rosensweig in 2024, will step down and serve as an executive advisor to Rosensweig and the board. "As I return to the CEO role, I'm confident Chegg has a bright future, and I look forward to exploring all paths to drive growth and enhance shareholder value," Rosensweig said in the release. The company confirmed it will remain an independent public company after months of reviewing options, including a sale or going private. WILL AUTONOMOUS TRUCKS REPLACE DRIVERS BY 2027? "After thoughtful consideration of multiple proposals, the Board of Directors unanimously determined that remaining an independent public company offers the best opportunity to maximize long-term shareholder value," the company said. The company said AI adoption and reduced Google search traffic have caused a significant drop in traffic and revenue. "The new realities of AI and reduced traffic from Google to content publishers have led to a significant decline in Chegg's traffic and revenue," the company stated. To adapt, Chegg said it will streamline operations to lower costs and invest more in what it calls its fastest-growing area - the $40 billion-plus 'skilling market.'" Chegg said it plans to expand beyond traditional study help into a "skilling-focused business-to-business organization" offering programs in language learning, workplace readiness and AI-related skills. These new segments are projected to bring in about $70 million in 2025 revenue and achieve double-digit growth in 2026. CLICK HERE TO GET FOX BUSINESS ON THE GO Chegg reiterated its third-quarter guidance and cautioned investors about "risks and uncertainties" tied to the evolving AI landscape - including "the effects of AI technology on our business and the economy generally" and its ability to "stabilize the business by attracting new learners" amid traffic declines. via: https://www.foxbusiness.com/technology/chegg-lay-off-45-workforce-ai-google-traffic-shifts-batter-business

Beat 509 - Indykonpa Studio test

Posted by radio1n1 — Mon, 27 Oct 2025 23:05 GMT

Live 9:00pm - 11-pm

Musk's new Grokipedia crashes on launch day, hosts nearly 900K articles

Posted by radio1n1 — Mon, 27 Oct 2025 20:44 GMT

Elon Musk's artificial intelligence company, xAI, launched its early version of Grokipedia Monday, which is said to be an AI-generated encyclopedia to compete with Wikipedia. The billionaire Tesla founder, who has long criticized Wikipedia for what he calls "editorial bias," previously described Grokipedia as a more "truthful and independent alternative." FOX NEWS AI NEWSLETTER: TRUMP ORDER HARNESSES AI TO FIGHT CHILDHOOD CANCER Powered by Grok, xAI's chatbot trained on real-time data, the platform aims to reshape how online knowledge is created and shared. Grokipedia officially went live at grokipedia.com, though the debut was not without issues. The site launched in the afternoon but crashed within hours, before returning online later that evening. Early visitors reported seeing a minimalist homepage titled "Grokipedia v0.1" with a simple search bar. MUSK THREATENS TO SUE APPLE OVER NOT FEATURING X, GROK APPS At launch, the platform also hosted 885,279 articles, though many early users said that large portions appeared to be adapted or copied directly from Wikipedia. The release marks a step in Musk's effort to build AI systems that challenge mainstream narratives. MUSK'S X REACHES TENTATIVE SETTLEMENT IN $500 MILLION LAWSUIT OVER FIRINGS OF PLATFORM'S FORMER WORKERS Last week, Musk said on X that the launch had been delayed to allow xAI to "do more work to purge out the propaganda." In a September post on his social platform X, Musk stated: GET FOX BUSINESS ON THE GO BY CLICKING HERE "We are building Grokipedia @xAI. Will be a massive improvement over Wikipedia. Frankly, it is a necessary step towards the xAI goal of understanding the Universe." FOX Business has reached out to xAI for comment. via: https://www.foxbusiness.com/fox-news-tech/musks-new-grokipedia-crashes-launch-day-hosts-nearly-900k-articles

Amazon to cut nearly 30K corporate jobs in largest layoff in company history: report

Posted by radio1n1 — Mon, 27 Oct 2025 20:43 GMT

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

Democrats have 'disgraceful moment' in government shutdown as small businesses suffer, SBA administr

Posted by radio1n1 — Mon, 27 Oct 2025 18:15 GMT

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

CEO explains multimillion-dollar investment in US rare earth processing plant, makes bold 2028 predi

Posted by radio1n1 — Mon, 27 Oct 2025 17:17 GMT

Aclara Resources CEO Ram n Bar a Costa detailed a $277 million investment to build the first rare earth processing plant in America during an exclusive interview on "The Claman Countdown" Monday. "We are going to be breaking ground in the second half of next year," he said on the future plant in Louisiana. Rare earth elements are critical for making everyday electronics, defense systems and more. WYOMING RARE EARTH MINING FACILITY TO BE FIRST TO OPEN IN OVER 70 YEARS The investment aims to help fight China's grip on the rare earths market, where the country controls around 70% of the world's rare earth mining and 90% of its processing. Meanwhile, the U.S. handles around only 12% of the rare earth elements. As the Trump administration seeks to delay China's aggressive export controls, Bar a Costa addressed what the controls target. "When we see, for example, the restrictions that the Chinese imposed very recently, they didn't talk about a rare earth generically, but they were talking specifically about seven rare earths, which happen to be heavy rare earths," Bar a Costa told FOX Business anchor Liz Claman. "They're much more scarce and difficult to obtain." However, the same type of clay deposits that the Chinese draw rare earths from also appear in Chile and Brazil, the CEO added. TRUMP, AUSTRALIAN PM SIGN $8.5B CRITICAL MINERALS DEAL TO COUNTER CHINA DOMINANCE IN RARE EARTHS "We're developing two of them. And they're going to be the feed that is going to come into Louisiana," Bar a Costa shared. The materials expert also gave a bold prediction on just how much the Louisiana facility will help the U.S. diversify the rare earth supply chain outside China. "We expect to be able to supply 75% of the heavy rare earths that are going to be required by the EV industry together, of course, with other applications like drones and wind turbines," he said. APPLE BACKS TRUMP RARE EARTH MINERALS PUSH, INVESTS $500M IN US MINE When Claman asked Bar a Costa if his potential "key" role in helping the world decouple from China is intimidating, he clarified he aims to be an "alternative" to China rather than fully replace its rare earths supply. Bar a Costa also discussed what will set his supply apart from his competitor's. "I think that the difference of our product is going to be the emphasis on sustainability, both from an environmental and social standpoint, we're going to have a product that probably is not necessarily going to compete in price with China," he said. TRUMP ADMINISTRATION DENIES REPORT IT'S SEEKING STAKES IN QUANTUM COMPUTING FIRMS AMID CHINA TECH RACE Although President Donald Trump is expected to meet with Chinese President Xi Jinping on Thursday as part of his tour of Asia, China has not yet confirmed the two will meet. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/media/ceo-explains-multi-million-investment-us-rare-earth-processing-plant-makes-bold-2028-prediction

Brian Kelly's LSU firing: Where will his $54M buyout rank among college football's biggest?

Posted by radio1n1 — Mon, 27 Oct 2025 17:16 GMT

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

DoorDash unveils crisis plan as millions face possible loss of SNAP benefits

Posted by radio1n1 — Mon, 27 Oct 2025 15:53 GMT

As food assistance benefits are set to expire this Saturday amid the ongoing government shutdown, DoorDash announced over the weekend the launch of an "emergency food response" to support those in need throughout November. In a Sunday announcement, the food delivery company said it plans to deliver roughly 1 million free meals through its food bank partners, waive fees for 300,000 Supplemental Nutrition Assistance Program (SNAP) recipients ordering groceries from participating retailers and donate food from its own online convenience store, DashMart, to local food banks. "No one should go hungry in America - period," Max Rettig, vice president and global head of public policy at DoorDash, said in a statement. "Millions of families are worried right now about how they'll put food on the table. Fighting hunger is core to our mission at DoorDash, and we're stepping up alongside leading grocers and retailers to help bridge the gap. We know this is a stopgap, not a solution. But doing nothing simply isn't an option." TRUMP ADMIN WARNS 42?MILLION AMERICANS COULD LOSE FOOD STAMPS AS SHUTDOWN DRAGS ON According to the company, DoorDash will deliver food on behalf of more than 300 food bank and pantry partners nationwide - the equivalent of approximately 1 million meals - through its Project DASH program. Through the initiative, the company said it has been able to complete more than 8 million deliveries, the equivalent of about 135 million meals. DoorDash said it is also partnering with major grocers - including Sprouts, Dollar General, Schnucks, Ahold Delhaize brands, Hy-Vee, Giant Eagle and Wegmans - to waive delivery and service fees for an estimated 300,000 orders placed by SNAP recipients. Customers would simply need to link a SNAP/EBT card to their profile when ordering. DOORDASH TO PAY NEW YORK DELIVERY WORKERS NEARLY $17M FOR USING TIPS TO SUBSIDIZE WAGES Additionally, DoorDash will contribute fresh food, shelf-stable items and household essentials from its DashMart locations to support local food banks in affected communities. Eric Mitchell, president of Alliance to End Hunger, said in a statement that "the food security of millions of people who rely on SNAP is at dire risk," warning that the federal government shutdown could suspend SNAP benefits for more than 40 million Americans - citing 21 million children, 16 million working families, and 5 million seniors. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We know that the only viable solution is to ensure SNAP benefits are being delivered in full to those in need of food assistance as soon as possible," Mitchell said. "We are thankful for the part that companies and organizations across the country like DoorDash can do to try to fill the gap, and we will continue to work tirelessly to make sure SNAP is restored and protected quickly and fully." via: https://www.foxbusiness.com/lifestyle/doordash-unveils-crisis-plan-millions-face-possible-loss-snap-benefits

Canada's sudden free-trade conversion with Reagan ad betrays decades of protectionist policy

Posted by radio1n1 — Mon, 27 Oct 2025 15:38 GMT

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

Ford recalls 1.4M vehicles over rearview camera issue

Posted by radio1n1 — Mon, 27 Oct 2025 14:41 GMT

Ford is recalling more than 1.4 million vehicles due to issues with the rearview cameras. The recalled vehicles may display a distorted, intermittent or blank image when the vehicle is in reverse, according to the National Highway Traffic Safety Administration. This can reduce the driver's view behind the vehicle, NHTSA said, and increases the risk of a crash. Affected vehicles range from model years 2015 to 2020, and include Explorer, Taurus, C-Max, Escape, Flex, Fusion, Fiesta and Mustang vehicles. Lincoln MKZ and MKT models are also included in the recall. FORD ISSUES RECORD 103 SAFETY RECALLS IN 2025 WITH FOUR MONTHS STILL REMAINING IN THE YEAR NHTSA said dealers will inspect and replace the rearview cameras as necessary and free of charge. Interim letters notifying owners of the safety risk are expected to be mailed this month, and additional letters will be sent once a final fix becomes available, NHTSA said. FOX Business reached out to Ford for comment. Ford previously recalled 1.9 million vehicles over a similar rearview camera issue. That recall - which affects a range of vehicles with model years between 2015 and 2019 - included the Lincoln MKC, Lincoln Navigator, Mustang, F-250, F-350, F-450, F-550, Edge, Ranger, Expedition, Econoline, Transit and Transit Connect, Reuters reported in September, citing a NHTSA filing. FORD RECALLS 1.9M VEHICLES OVER REARVIEW CAMERA DEFECT THAT INCREASES CRASH RISK Ford has issued the most safety recalls among automakers in 2025, with more than 103 alerts, according to a report from Kelley Blue Book. With a third of the year remaining, Ford has already surpassed the previous annual record of 77 recalls, according to the report. If a vehicle fails to meet Federal Motor Vehicle Safety Standards due to a safety-related defect, manufacturers are required to notify consumers of the issue. These recalls are intended to address safety problems before they cause harm. FORD RECALLS NEARLY 625K VEHICLES FOR SEATBELT, CAMERA DISPLAY ISSUES Manufacturers typically initiate recalls to stay ahead of any potential fines and driver-safety issues. However, NHTSA, which is part of the Department of Transportation, can also issue vehicle recalls based on publicly submitted cases of potential safety concerns. Brian Moody, executive editor at Autotrader, told FOX Business that he usually says recalls are not a big deal because that's the system working. Most of the recalls today are voluntary and automakers are very rarely compelled by legal action or the government, he said. GET FOX BUSINESS ON THE GO BY CLICKING HERE "However, when an automaker has a record number of recalls, that is cause for concern. As increasingly complex vehicles become increasingly "normal," Ford has stumbled with regard to quality," he said. via: https://www.foxbusiness.com/lifestyle/ford-recalls-1-4m-vehicles-over-rearview-camera-issue

The Fed 5: Bessent's short list for Powell's job

Posted by radio1n1 — Mon, 27 Oct 2025 14:03 GMT

Treasury Secretary Scott Bessent has whittled down his short list of candidates to replace Federal Reserve Chairman Jerome Powell to five individuals, he said on Air Force One, The Wall Street Journal reported. Some have connections to the central bank and the White House, while another is a Wall Street powerhouse. President Donald Trump has kept up his verbal criticism of Powell for not cutting interest rates fast or deep enough, calling the chairman a "stubborn moron" and "Jerome Too Late Powell", among other things in social media posts and publicly. Bessent plans to brief Trump on the candidates in full after Thanksgiving, although Powell's term as chairman ends on May 15, 2026. FOX Business takes a look at the contenders ahead of the Federal Reserve's October meeting on Wednesday in which policymakers are seen cutting interest rates by 25 basis points, lowering the target to a range of 3.75% to 4%. The anticipated rate cut follows the same move the Fed made at its September meeting. Markets also expect another rate cut of that size at the Fed's subsequent meeting in December. TRUMP SLAMS POWELL AS 'MORON' AND CALLS FOR FED'S BOARD TO TAKE CONTROL OF POLICY MOVES Here's the list in alphabetical order. Federal Reserve Governor Bowman, who also serves as the Fed's vice chair for supervision, became one of the first dissenters at the July meeting, favoring rate cuts, while the central bank left rates unchanged. She has also made her case for future rates through year-end. Hassett is on his second spin through Trump's orbit. He is the director of the National Economic Council. In the first Trump administration, he was a senior advisor and chairman of the Council of Economic Advisers. Both agencies work in tandem with the White House on economic policies. Hassett said the latest consumer inflation data, which showed a less-than-expected 3% annual increase, is a sign costs are falling. "Our expectation is that inflation is decelerating and that will take all the pressure off the Fed to keep on the path that they are on," he said during an interview on FOX Business Network's "Varney & Co." FED EXPECTED RATE CUT COMES WITH OTHER DILEMMAS FOR CENTRAL BANK Rick Rieder, BlackRock's chief investment officer of global fixed income, oversees $3.2 trillion in customer assets for the world's largest asset manager. BlackRock has more than $10 trillion under management. During an interview with FOX Business' Liz Claman in August, Reider was asked about being considered for the role. "When I first heard it, I thought it'd be the greatest honor of my life. I mean, to actually be considered in a position like that and think about the responsibility, and quite frankly, what I thought about is the ability, and I think why serving your country is such a powerful dynamic, is the ability to help people through monetary policy, through economic transmission, is really powerful," he said. CHEVRON CEO TOUTS AMERICA'S ENERGY COMEBACK Waller, like his colleague Bowman, was also among the dissenters in July. The duo signaled a growing divide within the Federal Reserve, which has come under fire for waiting too long to cut rates amid higher inflation and a slowing labor market. WALLER, BOWMAN EXPLAIN DISSENTS AMID FED PRESSURE The former Federal Reserve governor, who was one of the early contenders for Fed chair, has been a longtime critic of the central bank. "I think their track record is really quite poor in forecasting the growth of the economy from policies like the ones the president put in place. And their inflation forecasts have been terrible, too. That's why they were so late, and that's why we had this surge of inflation that's done the most harm to the hardest-working Americans among us. So, that track record, I think, still matters," he said during an appearance on "Maria Bartiromo's Wall Street." READ MORE FROM FOX BUSINESS FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/economy/fed-5-bessents-short-list-powells-job

Republicans, Democrats clash over expiring Obamacare subsidies during ongoing shutdown talks

Posted by radio1n1 — Mon, 27 Oct 2025 12:40 GMT

Republicans and Democrats remain far apart on what to do about Obamacare, with how to handle expiring subsidies being the main sticking point in talks to re-open the federal government. Back when former President Barack Obama signed the legislation into law in 2010, he promised it would "lower costs for families and for businesses and for the federal government, reducing our deficit by over $1T in the next two decades." But, Republicans argue Obamacare has done the opposite, with Sen. Rick Scott, R-Fla., telling FOX Business, "Look at how much this is all costing us. Obamacare was sold on a lie. The costs have skyrocketed." FLASHBACK: TED CRUZ PREDICTS BALLOONING OBAMACARE SUBSIDIES NOW AT CENTER OF SHUTDOWN FIGHT The Congressional Budget Office (CBO) finds extending the expiring premiums would increase the deficit by roughly $350B through 2035, while the Washington Post reports that average Obamacare premiums are set to rise 30% next year. CLICK HERE TO GET FOX BUSINESS ON THE GO It all comes as Republicans say they're willing to negotiate the subsidies once the government reopens, but Senate Democrats are dug in. via: https://www.foxbusiness.com/politics/republicans-democrats-clash-over-expiring-obamacare-subsidies-during-ongoing-shutdown-talks

Tesla could lose Musk if $1T pay package isn't approved, board chair warns

Posted by radio1n1 — Mon, 27 Oct 2025 12:02 GMT

Tesla's board chair has warned shareholders in a letter that failing to approve Elon Musk's $1 trillion pay package could put the company at risk of losing its CEO and "significant value." "Do you want to retain Elon as Tesla's CEO and motivate him to drive Tesla to become the leading provider of autonomous solutions and the most valuable company in the world?" board Chair Robyn Denholm said in a letter to shareholders, calling the vote slated to take place during Tesla's Annual Meeting on Nov. 6 "critical" for the future of the company and for delivering extraordinary shareholder returns. Tesla's board of directors initially proposed the new compensation plan for Musk in September. It could be worth a potential $1 trillion, marking what would be the largest pay package for an executive in history. However, it is dependent upon certain ambitious targets being reached. TESLA GRANTS MUSK MASSIVE PAY DEAL TO KEEP CEO ON BOARD AMID LEGAL BATTLE The board's proposal would give Musk up to about 12% of Tesla's stock, worth about $1 trillion, if the automaker notches a market capitalization of $8.5 trillion and other operational milestones over a 10-year period. The company's current market value is just north of $1.4 trillion. "If we fail to foster an environment that motivates Elon to achieve great things through an equitable pay-for-performance plan, we run the risk that he gives up his executive position, and Tesla may lose his time, talent and vision, which have been essential to delivering extraordinary shareholder returns," Denholm added. MUSK SAYS HE WILL REMAIN TESLA CEO IN COMING YEARS Denholm argued that the "company may no longer be valued for what we aim to become: a transformative force reimagining the fundamental building blocks of mobility, energy and labor, with products such as FSD and Optimus, and working to better humanity in the process." The message echoes Denholm's previous letter to investors, in which she lamented "retaining and incentivizing Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history." Musk interjected at the end of the company's most recent earnings call to explain to investors that approving this package isn't necessarily about the money but about having enough power at the helm. TESLAS CONTINUE TO BE VANDALIZED DESPITE CEO ELON MUSK'S FALLOUT WITH WHITE HOUSE Musk told shareholders last week that he is looking to have enough voting control "to give a strong influence, but not so much that I can't be fired if I go insane." GET FOX BUSINESS ON THE GO BY CLICKING HERE Since Tesla is a public company, Musk said there is no way to increase his voting control because rules prevent creating special "super-voting" shares or changing ownership structures after an IPO. via: https://www.foxbusiness.com/lifestyle/tesla-could-lose-musk-1t-pay-package-isnt-approved-board-chair-warns

Google teams up with energy giant to revive a long-shuttered nuclear plant

Posted by radio1n1 — Mon, 27 Oct 2025 11:40 GMT

EXCLUSIVE: Google announced a new partnership with NextEra Energy to restart Iowa's only nuclear power plant, a move aimed at meeting the growing energy demands of artificial intelligence while strengthening America's clean-energy grid. The Duane Arnold Energy Center in Palo, Iowa, is expected to reopen by 2029 after closing in 2020, primarily to power Google's AI and cloud operations with clean, round-the-clock nuclear energy. "Google's partnership with NextEra to reopen the Duane Arnold Energy Center will deliver nuclear energy and create more than 1,600 direct, indirect and induced jobs for the plant's construction and hundreds of permanent roles, contributing more than $340 million to Iowa's economy each year," Alphabet and Google's President and Chief Investment Officer Ruth Porat said in a statement. "The effort underscores Google's focus on responsibly building energy capacity that is essential for America to continue to lead in AI and builds on our two decades of investment in Iowa," Porat added, "including our announcement this May that Google intends to invest an additional $7 billion in the state to enable a new era of American innovation while unlocking economic opportunities across the Hawkeye State." EXPERT SAYS ENERGY ABUNDANCE WILL 'REBALANCE' AMERICA AS DEMAND HITS RECORD HIGHS NATIONWIDE Earlier this month, the U.S. Energy Information Administration projected that power consumption will hit record highs over the next two years - climbing to 4,191 billion kilowatt-hours in 2025 and 4,305 billion kWh in 2026, up from 4,097 billion kWh in 2024, driven largely by AI data centers. The agreement between Google and NextEra includes a 25-year power purchase deal for the Duane Arnold plant and a framework to explore additional nuclear projects nationwide. NextEra will assume full ownership after acquiring stakes from CIPCO and Corn Belt Power Cooperative. Duane Arnold is expected to come online and deliver power to the grid by the first quarter of 2029, pending regulatory approval to restart operations. "Restarting Duane Arnold represents a watershed moment for NextEra Energy as we lead America's golden age of power demand," NextEra's Chairman and CEO John Ketchum also said in a statement. "Our collaboration with Google not only enables the return of reliable nuclear generation to Iowa but also launches a major initiative to advance nuclear technology across the country," Ketchum continued. "These efforts position NextEra Energy at the forefront of meeting America's growing power needs, creating hundreds of long-term jobs and delivering lasting economic value for our shareholders and the communities we serve." GET FOX BUSINESS ON THE GO BY CLICKING HERE According to a press release, the project will create about 1,600 direct, indirect and induced jobs during construction, plus 400 full-time positions once operational. The agreement marks nearly 3 gigawatts of joint energy projects executed by Google and NextEra. The companies estimate $340 million in annual statewide economic output and $3 million in yearly tax revenue for local schools and infrastructure - a technological milestone that underscores America's evolving energy future. READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/google-teams-up-energy-giant-revive-long-shuttered-nuclear-plant

Costco issues recall alert for wagon over child safety risk

Posted by radio1n1 — Mon, 27 Oct 2025 10:43 GMT

A popular item sold at Costco has been recalled due to a potential child safety risk. Olympia Tools International Inc.'s Pack-N-Stroll Folding Utility Wagon "was not marketed for use by children" and "may be mis-used in that manner," a recall notice Costco sent Thursday to customers who purchased the item said. Despite the popularity of stroller wagons, this particular wagon "does not meet federal safety standards for use with children because there is a risk of a child's head becoming trapped between an opening between the wagon's utility tray and the sidewall." Olympia Tools also said "the wagon does not contain a restraint system, posing a risk of falls to children." 1.2 MILLION COUNTERTOP OVENS SOLD AT MAJOR RETAILERS RECALLED FOR BURN HAZARD The recalled utility wagons are "black with blue accents on the handle, wagon, and wheel spokes," the U.S. Consumer Product Safety Commission (CPSC) said. They include a removable organization tray and two cupholders attached to the wagon's push-pull handle. The wagons are foldable for storage. BMW RECALLS NEARLY 200K VEHICLES DUE TO FIRE RISK, SAYS OWNERS SHOULD PARK OUTSIDE The CPSC said about 530 wagons sold through Costco online and cohooutdoors.com from June through July 2025 are impacted. They cost between $200 and $400. Customers are urged by the company to stop using the wagons immediately and return them to Costco for a full refund. CLICK HERE TO READ MORE ON FOX BUSINESS Anyone with questions or concerns can call Olympia Tools at 866-461-8665 from 9 a.m. to 4 p.m. PT Monday through Friday. via: https://www.foxbusiness.com/lifestyle/costco-issues-recall-alert-wagon-over-child-safety-risk

Oil executives predict 2026 price 'low point' as Permian Basin ramps up production capacity

Posted by radio1n1 — Mon, 27 Oct 2025 09:19 GMT

The pipes are churning, and sand and water are flowing once again as America's oil executives focus on increasing domestic supply and aim to bring prices to a "low point" in 2026. "We're prepared for prices in '26 to be lower than they were in '25," Chevron CEO Mike Wirth said in an interview with FOX Business' Maria Bartiromo - the first of four exclusive segments airing on "Mornings with Maria" this week - offering an in-depth look at operations in Texas' Permian Basin. "That's the current outlook. As we get on the other side of that and that supply's back in the market, the market will come back into balance and I think we'll see prices restored to a level a little bit higher, and '26 may be a low point," Wirth said. "Economics drive capital allocation decisions. Today, oil's at $57 a barrel. I don't think we're necessarily high-fiving with that oil price, but again, we're going to find ways to reduce costs, cut our emissions, and make our break-evens lower to live to fight another day," Diamondback Energy CEO Kaes Van't Hof also told Bartiromo. CHEVRON CEO APPLAUDS TRUMP ADMINISTRATION'S ENERGY POLICY SHIFT DURING PERMIAN BASIN TOUR During her tour in Midland, Texas, Bartiromo noted that the Permian Basin is the largest secure oil supply in the world, currently accounting for about 40% of U.S. production - a figure projected to reach 70% by 2040. As of Monday morning, oil prices edged lower - down more than 1% before the market opened. The dip followed reports that U.S. and Chinese officials reached a "substantial framework" to avoid 100% tariffs, a move expected to boost oil demand, according to Reuters. "If you go back just 20 years ago, the U.S. was the third-largest producer in the world. Saudi Arabia and Russia were larger, and at that time, if you combine Saudi Arabia's and Russia's oil and gas production, it was three times what the U.S. produced. Today, production in the U.S. of oil and gas is larger than Saudi Arabia and Russia combined," Wirth said. "That's why the Permian Basin is so amazing. It's been producing for over 100 years and left for dead two or three times, and here we are now producing over 6 million barrels a day, which on its own would be the third-largest oil-producing country in the world," Van't Hof added. "And all that's within, essentially, a 150-mile radius of where we are today." Wirth, along with Chevron Shale and Tight Vice President Kim McHugh, noted that America's vast energy resources are not just an economic advantage - but also a matter of national defense by insulating itself from oil adversaries like Russia and Iran. "I'm a second-generation driller. I grew up around it," McHugh said. "My husband's in the industry. My daughters are in the industry. I believe in what we do. This is a noble cause people need. We make people's lives better by what we do." "Energy security and national security are linked. The U.S. is blessed with an abundance of natural resources, and we now have an administration that wants to see the energy industry invest in those resources to make sure that America's energy strength translates into economic strength and competitiveness and, importantly, security," Wirth said. GET FOX BUSINESS ON THE GO BY CLICKING HERE Last week, fellow oil executive Harold Hamm warned that global oil demand could soon outpace affordable supply. "With about 18 months, that oversupply's going to be gone. And then we need to watch out for some price shocks after that point. Once you exceed demand with supply, that's when those things start happening," the business leader warned. "So we have to have an energy industry in this country. Energy independence is so important to us." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/oil-executives-predict-2026-price-low-point-permian-basin-ramps-up-production-capacity

Federal Reserve faces dilemma amid expected rate cut decision

Posted by radio1n1 — Mon, 27 Oct 2025 07:01 GMT

The Federal Reserve is set to announce its next interest rate decision on Wednesday and the monetary policy meeting comes as the economy is facing a weakening labor market as well as elevated inflation. Fed policymakers are widely expected to cut the benchmark federal funds rate by 25-basis-points, lowering the target to a range of 3.75% to 4%. The anticipated rate cut comes after the Fed cut rates by that amount at their September meeting. Markets also expect another rate cut of that size at the Fed's subsequent meeting in December. The Dow Jones Industrial Average, Nasdaq Composite and the S&P 500 are all sitting at record highs. The Dow closed above 47,000 for the first time on Friday. The latest inflation data from September released on Friday showed that the consumer price index (CPI) ticked up to 3% year-over-year. The ongoing government shutdown has indefinitely delayed the September jobs report, though data released over the summer showed a slowdown in hiring dating back to this spring - creating a challenging situation for policymakers. Ryan Young, senior economist at the Competitive Enterprise Institute, told FOX Business that "Three percent inflation is usually high enough for the Fed to consider raising interest rates in order to get inflation closer to its 2% target." INFLATION REMAINED WELL ABOVE THE FED'S TARGET IN SEPTEMBER AHEAD OF RATE CUT DECISION "This time around, there are warning signs all around the economy, from rising unemployment to seven straight months of contraction in manufacturing due to tariffs," Young said. "That is what is pushing Fed officials towards cutting rates. But that stimulus comes with a tradeoff: it risks higher inflation. They're taking a chance, and it might not pay off." Lowering interest rates to support the labor market - despite the risk of a resurgence in inflation - could also have an impact on federal spending. The cost of servicing the more than $38 trillion national debt topped $1 trillion in the fiscal year that concluded at the end of September. EJ Antoni, chief economist at The Heritage Foundation, noted in an interview with FOX Business that elevated interest rates on the national debt have caused the Treasury Department to continue issuing short-term debt, rather than extending the duration at lower rates. "Part of the problem that we're facing right now is that the debt issuance is very, very heavily reliant on short-term debt," Antoni explained. "The reason that the Treasury secretary is having to do that is because the rates haven't come down yet." FED'S POWELL POINTS TO PERSISTENT LABOR MARKET WEAKNESS AS GOVERNMENT SHUTDOWN DELAYS OFFICIAL REPORTS "If you lock it in at those very long terms, you're now stuck paying high levels of interest for a very long period of time, so we're basically having to just constantly roll over the debt in the short-term and hope and pray that our benevolent overlords at the Fed are going to bring down rates sometime soon so that we can lock in those low rates," Antoni said. When the Fed cut interest rates last September by 50 basis points to kick off the rate-cutting cycle, Treasury yields moved higher and exacerbated the issue of servicing the debt. "Just because the Fed is going to move a particular interest rate in one direction does not mean you're going to see a corresponding move in consumer interest rates or in the rate on Treasuries," Antoni said. "Let's say we get a bunch of Fed cuts, but then Congress goes back on a spending spree and the government is just borrowing money hand over fist. What happens? You're going to see rates rise again." FED MINUTES SHOW POLICYMAKERS REMAIN CONCERNED ABOUT INFLATION AS THEY WEIGH RATE CUTS Former Federal Reserve Governor Kevin Warsh said in an interview on FOX Business' "Maria Bartiromo's Wall Street" that the Fed has done a poor job of managing inflation expectations and that new leadership is needed. "The reason why most households, most businesses, think that inflation is going to still be well above 2% is because that's what the Fed's delivered," Warsh said. "I think until there is a regime change at the Fed, until there are new people running the Fed with a new operating framework, they're stuck with their old mistakes." Warsh, who is under consideration by the Trump administration to succeed Fed Chair Jerome Powell when his term as chair expires next year, added that, "The real reason we've had progress on the inflation front isn't because of the Federal Reserve, in my view, Maria. It's because of the president's policies." GET FOX BUSINESS ON THE GO BY CLICKING HERE "His policies have strengthened the economy. His policies have lowered prices. But unfortunately, the Fed's working at cross-purposes with him. And I, frankly, quite understand his frustration," Warsh added. via: https://www.foxbusiness.com/economy/federal-reserve-faces-dilemma-amid-expected-rate-cut-decision

Lululemon partners with NFL to launch officially licensed apparel for all 32 teams

Posted by radio1n1 — Mon, 27 Oct 2025 07:01 GMT

One of the biggest athletic apparel brands in the world is hitting the gridiron. The NFL and lululemon have teamed up to deliver elevated apparel and accessories for all 32 teams on Monday. This is the first time that lululemon has offered officially licensed products for the NFL or any of its teams. Fanatics, the official retailer of the NFL, will exclusively sell the collaboration through its own website, NFL Shop and team shops. The collaboration drops on Oct. 28 on all three sites, while also being sold at team retail locations and at stadium retail stores. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM "Together with Fanatics, we are introducing an elevated collection that redefines modern fan apparel and is uniquely designed for everyday comfort," Renie Anderson, executive vice president and chief revenue officer at the NFL, said in a statement. "lululemon boasts a loyal fan base built on culture, meaningful connections and innovation, qualities that thoroughly reflect the NFL." As part of the launch, NFL greats, including Joe Montana, teamed up for the collaboration with the 'Welcome to the Fam Club" brand campaign. It spotlights the families behind each athlete, with Nick Foles, Ryan Clark and Emmanuel Acho joining the group as well. FANATICS LAUNCHES ENTERPRISE-WIDE LOYALTY PROGRAM WITH REWARDS INCLUDING ATHLETE, VIP EXPERIENCES "True NFL fans wear their pride," Celeste Burgoyne, president, Americas and global guest innovation, lululemon, said in a statement. "For them, fan gear is more than apparel, it's a badge of loyalty and a way to instantly connect with a community that is like a family." In the brand campaign with the former NFL stars, each of them is surrounded by his family and wearing his former team's logos and colors. For example, Montana is pictured with his wife, son and daughter all wearing San Francisco 49ers gear. Nick and Tori Foles are donning Philadelphia Eagles black, white and green, while Ryan Clark and his daughter, Jaden, are decked out in black and gold for his Pittsburgh Steelers. And though Acho joins Foles in his love for the Eagles, his brother, Sam Acho, is always repping his Chicago Bears. There will be core lululemon products featured in this launch, including the popular Define, Scuba, Align and Steady State franchises. The iconic styles that make lululemon's portfolio so popular among its customers will become NFL team staples for men and women alike. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We looked to honor that passionate devotion, and are thrilled to be part of that ritual found throughout the NFL season," Burgoyne said. Lululemon also collaborated with the NHL to expand its partnership to all 32 teams during the 2025-26 season. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter. via: https://www.foxbusiness.com/sports/lululemon-partners-nfl-launch-officially-licensed-apparel-all-32-teams

Neutrogena makeup wipes recalled across four states after bacteria found in product testing

Posted by radio1n1 — Sun, 26 Oct 2025 21:19 GMT

Neutrogena is recalling some of its popular makeup wipes due to possible bacterial contamination. The recall covers 1,312 cases of Neutrogena's "Makeup Remover Ultra-Soft Cleansing Towelettes" after testing revealed the presence of pluralibacter gergoviae, a bacterium known to cause infections in certain people, according to the U.S. Food and Drug Administration (FDA). The affected products were distributed to several states, including Texas, South Carolina, Georgia and Florida, and carry the lot number 1835U6325A, the agency said. HORMEL RECALLS 4.9M POUNDS OF CHICKEN POSSIBLY 'CONTAMINATED WITH PIECES OF METAL' Pluralibacter gergoviae can lead to serious infections in individuals with weakened immune systems, chronic health conditions or those undergoing surgery, according to the National Institutes of Health (NIH). COCA-COLA RECALLS 3 POPULAR SODAS OVER POTENTIAL FOREIGN MATERIAL CONTAMINATION "The good news is the overwhelming majority of the population, this bacteria poses no harm whatsoever," Fox News contributor Dr. Nicole Saphier said on "Fox & Friends Weekend" on Sunday. "It's really for those who are immunocompromised. She pointed out that the FDA classified this as a Level Two safety recall, meaning the "danger is very minimal." EGG RECALL OVER SALMONELLA CONCERNS EXPANDS "We see these recalls in a lot of cosmetics all the time," Saphier said. Saphier noted that these types of bacteria are naturally found in soil and water. She also encouraged consumers to be mindful when applying products to their face when they have any kind of open wound. "It's most likely going to be safe, but you could still be exposing yourself to bacterial infections," Saphier said. The recall comes amid a wave of recent product recalls across major brands. Over the summer, DermaRite Industries similarly announced it was recalling products including hand soap, deodorant, lotions, shampoo and hand sanitizer due to concerns over bacterial contamination, according to the FDA. GET FOX BUSINESS ON THE GO BY CLICKING HERE Neutrogena and the FDA did not immediately respond to FOX Business' request for comment. via: https://www.foxbusiness.com/retail/neutrogena-makeup-wipes-recalled-across-four-states-after-bacteria-found-product-testing

Major US airports face ground stops and flight delays amid ongoing government shutdown

Posted by radio1n1 — Sun, 26 Oct 2025 16:33 GMT

Major airports across the U.S. issued ground stops or delays Sunday amid the ongoing federal government shutdown. Newark Liberty International Airport in New Jersey issued a ground delay Sunday afternoon until 12:59 a.m. local time the following day, with flights delayed around 82 minutes on average, according to the website for the Federal Aviation Administration (FAA). In Boston, a ground stop was issued until 4:30 p.m. local time at Logan International Airport due to a disabled aircraft on the runway. Around 8:30 a.m. on Sunday, a staffing shortage reportedly triggered a ground stop affecting flights at Los Angeles International Airport. That ground stop was later lifted, according to KTLA. ALASKA AIRLINES RESTORES OPERATIONS AFTER WIDESPREAD TECHNOLOGY ISSUE GROUNDED FLIGHTS NATIONWIDE Oakland International Airport in Oakland, California, was also impacted by that ground stop, KTLA reported. San Francisco International Airport issued a ground delay until 1:59 a.m. the following day, with an average delay of 44 minutes. Many other airports experienced temporary flight delays Sunday afternoon, typically ranging between 15 and 30 minutes, including: MAJOR AIRPORTS ISSUE GROUND STOPS DUE TO AIR TRAFFIC CONTROLLER STAFFING SHORTAGES AMID GOVERNMENT SHUTDOWN Some of the reasons listed for the delays included staffing, weather, compacted demand and traffic management initiatives, according to the FAA website. The FAA did not immediately respond to FOX Business' request for comment. An automatic reply from the agency stated, "Due to a lapse in funding, the FAA is not responding to routine media inquiries." The reply also referenced staffing challenges across the system, noting, "As [Transportation Secretary Sean Duffy] has said, there have been increased staffing shortages across the system. When that happens, the FAA slows traffic into some airports to ensure safe [operations]." UNITED AIRLINES FLIGHT DIVERTS AFTER WINDSHIELD CRACKS AT 36,000 FEET The ongoing 26-day shutdown has prompted air traffic controllers to increasingly call out sick or miss work as their paychecks remain halted, Duffy told Maria Bartiromo in a Fox News' "Sunday Morning Futures" exclusive interview. He has vowed to slow air traffic operations if needed to ensure safety is not compromised. GET FOX BUSINESS ON THE GO BY CLICKING HERE "My job is to keep the airspace safe. And so, if I don't feel like I have enough controllers or enough controllers that are focused, we will slow down traffic, we will stop traffic," Duffy told Bartiromo. For the latest updates on airport delays and ground stops, visit the FAA's website. Fox News Digital's Kristen Altus contributed to this report. via: https://www.foxbusiness.com/fox-news-travel/major-us-airports-face-ground-stops-flight-delays-amid-ongoing-government-shutdown

Hormel recalls 4.9M pounds of chicken possibly 'contaminated with pieces of metal'

Posted by radio1n1 — Sun, 26 Oct 2025 15:27 GMT

Hormel Foods is recalling nearly 5 million pounds of foodservice ready-to-eat frozen chicken products that may be "contaminated with pieces of metal," according to a Saturday announcement from the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS). The Austin, Minnesota-based company traced the contamination to metal fragments from a conveyor belt used during production, the agency said. The pieces varied in size, measuring roughly 2mm by 17mm, FSIS told FOX Business. The issue was discovered after Hormel received multiple complaints from foodservice customers - including hotels, restaurants and other organizations that serve food to people - who reported finding metal in their frozen chicken breast and thigh products, according to the agency. The affected items, sold under the HORMEL FIRE BRAISEDT label, were distributed nationwide between Feb. 10 and Sept. 19, 2025. SPINACH RECALLED AFTER BATCH TESTS POSITIVE FOR POTENTIALLY HARMFUL BACTERIA "Hormel Foods Sales, LLC is voluntarily recalling 215,258 cases, or 4,874,815 total pounds, of five HORMEL FIRE BRAISEDTM items sent to foodservice operators throughout the United States as they may contain extraneous metal material," Hormel told FOX Business on Sunday. The recall includes bulk cases of boneless chicken breast and thigh meat weighing 13 to 24 pounds, with item codes 65009, 77531, 46750, 86206, and 134394 printed on the labels. EGG RECALL OVER SALMONELLA CONCERNS EXPANDS Both FSIS and Hormel emphasized that the products were not sold in grocery stores or directly to consumers. "This product is only sold to foodservice customers and cannot be purchased directly by consumers. All customers that may have received the affected product have been properly notified," the company added. BEN'S ORIGINAL RICE PRODUCTS RECALLED NATIONWIDE OVER POTENTIAL INJURY RISK FSIS cautioned that some recalled products may still be stored in the freezers of commercial kitchens and have been conducting routine checks to ensure the product is no longer available to consumers. "These businesses are urged not to serve the product," the agency said in the announcement. "This product should be thrown away." GET FOX BUSINESS ON THE GO BY CLICKING HERE Hormel emphasized to FOX Business that "no other HORMEL products are affected, and no illnesses or injuries have been reported in association with this recall." via: https://www.foxbusiness.com/lifestyle/hormel-recalls-4-9m-pounds-chicken-possibly-contaminated-pieces-metal

See inside JPMorgan's new $3B global headquarters in New York City

Posted by radio1n1 — Sun, 26 Oct 2025 14:14 GMT

JPMorgan Chase officially opened its new $3 billion global headquarters in Midtown Manhattan, marking a major investment in New York City's skyline. The opening comes as Wall Street leaders voice growing concerns about the city's political direction and economic future. "Two hundred fifty years ago, George Washington gave his inaugural speech in Manhattan. And for 250 years, New York City has survived," David Arena, global head of real estate at JPMorgan, told FOX Business. "It's had ups, it's had downs. It's had great mayors, it's had not-so-great mayors. It survives. And so we will survive." The new 60-story skyscraper will serve as home base for more than 10,000 JPMorgan employees. The bank's CEO, Jamie Dimon, called the project a testament to collaboration between government and business but also acknowledged that the city's financial dominance is under new pressure. NEW YORK'S FINANCIAL SECTOR LOSING GROUND TO RIVALS JPMorgan Chase is one of New York City's largest private employers, contributing an estimated $42 billion annually to the local economy. Yet the company now employs more workers in Texas than in the Empire State, a reflection of broader shifts in the financial sector. "Every step of the way, this building happened because of collaboration," Dimon said at Tuesday's ribbon-cutting. "Governments can stop that, or they can make it happen. When you work together, you create jobs, you train people, you make your city proud." Despite the optimism, the city's financial services sector is shrinking. New York has lost more than 8,000 financial jobs this year alone, according to a FOX Business analysis. Those losses mean lower tax revenues and mounting anxiety among real estate leaders and investors. The grand opening comes just two weeks before a pivotal New York City mayoral election, where frontrunner Zohran Mamdani, a self-described democratic socialist, has promised to raise taxes, freeze rent control and expand affordable housing development. TREASURY'S BESSENT WARNS NYC: NO BAILOUT UNDER MAMDANI - 'DROP DEAD' Dimon has criticized some of Mamdani's policy proposals but says he's willing to work with any administration. Still, the business community warns that an aggressive leftward turn could accelerate the flight of high-paying jobs and investment out of the city, in a sharp contrast to just a decade ago. Despite growing concerns, New York Gov. Kathy Hochul expressed confidence in the state as the finance hub. VOTERS IN MAJOR US CITY VIEW CAPITALISM ONLY SLIGHTLY MORE FAVORABLY THAN SOCIALISM, FOX NEWS POLL FINDS "I'm making this point loud and clear," Hochul said. "Do not bet against New York. Do not bet against New York City. Do not bet against our financial services sector because we are strong." Meanwhile, JPMorgan is requiring nearly all of its New York City staff to return to the office, helping drive demand for commercial real estate amid an uneven post-pandemic recovery. The city's office market is seeing its strongest leasing activity in nearly two decades. According to CBRE, 23.2 million square feet of new office space was leased in Manhattan during the first nine months of 2025, the largest amount for that period in 19 years. GET FOX BUSINESS ON THE GO BY CLICKING HERE That momentum puts 2025 on pace to surpass 30 million square feet of total leasing for the year, comparable to 32.4 million square feet in 2018 and 31.6 million in 2019. "This is all about competition," Arena said. "It's not just competition here in the United States. We are competing in the entire world. People all over the world want what we have created in the United States, and they will work to get it, and we have to work to protect it as well and share it with them." via: https://www.foxbusiness.com/markets/see-inside-jpmorgans-new-3b-global-headquarters-new-york-city

Mega Millions jackpot surges to $714M

Posted by radio1n1 — Sun, 26 Oct 2025 12:56 GMT

The Mega Millions jackpot has climbed to an estimated $714 million after no tickets matched all six numbers in Friday night's drawing. The prize in Friday's drawing boasted an estimated prize of $680 million. The white balls were 11, 18, 31, 51 and 56. The gold Mega Ball was 24. Though there were no big winners who matched all six numbers, there were 482,430 winning tickets across all lower prize tiers. The total nationwide winnings from Tuesday's drawing totaled more than $11.7 million. The jackpot has been growing since June 27, when it was last won at $348 million. GRANDMOTHER DONATES CHATGPT-PICKED POWERBALL JACKPOT TO NAVY RELIEF, DEMENTIA RESEARCH The $714 million pot remains the ninth-largest prize in the game's history ahead of Tuesday night's drawing. The two highest jackpots ever for Mega Millions totaled $1.602 billion and $1.537 billion, which were won in 2023 and 2018, respectively. The $714 million jackpot has an estimated cash value of $334.1 million, according to the lottery. MEGA MILLIONS JACKPOT NOW AMONG TOP 10 HIGHEST IN CONTEST HISTORY Mega Millions tickets are $5 each and are sold in 45 states, Washington, D.C., and the U.S. Virgin Islands. The drawing takes place Tuesdays and Fridays at 11 p.m. ET. The odds of winning a prize are 1 in 23, while the odds of winning the jackpot are 1 in 290.5 million, according to Mega Millions. Fox Business' Matt Kazin contributed to this report. via: https://www.foxbusiness.com/lifestyle/mega-millions-jackpot-surges-714m

Chevron CEO applauds Trump administration's energy policy shift during Permian Basin tour

Posted by radio1n1 — Sun, 26 Oct 2025 11:26 GMT

In an exclusive conversation with FOX Businesss' Maria Bartiromo during a tour of the Permian Basin, Chevron CEO Mike Wirth said America's vast energy resources are not just an economic advantage - but also a matter of national defense - while praising President Donald Trump's energy initiatives. "Energy security and national security are linked," Wirth said in a preview of his interview on "Sunday Morning Futures," which will air in full on "Mornings with Maria" Monday. "The U.S. is blessed with an abundance of natural resources," he continued. "And we now have an administration that wants to see the energy industry invest in those resources to make sure that America's energy strength translates into economic strength and competitiveness and, importantly, security." EXPERT SAYS ENERGY ABUNDANCE WILL 'REBALANCE' AMERICA AS DEMAND HITS RECORD HIGHS NATIONWIDE Wirth spoke from the Permian Basin in Midland, Texas, home to America's richest pool of oil and gas, which is expected to provide 70% of U.S. oil production by 2040. "The Permian Basin will be producing for decades to come as we continue to innovate and find ways to improve recovery," the CEO said. While primarily discussing the technology and innovation that will power U.S. energy independence, Wirth's interview follows the Trump administration's decision to purchase one million barrels of crude oil to replenish the Strategic Petroleum Reserve and separately sanction two of Russia's leading oil companies. "We've gone from an administration that openly declared its intent to try to reduce and eliminate our industry over time, and we now have an administration that sees American energy strength, American energy dominance, as linked to economic competitiveness. We've seen a policy shift," Wirth noted. "We've seen senior Cabinet officials that actually understand energy. And look, this administration wants to protect the environment as well. But it wants to use the resources of our country to support our economy and our security," Wirth added, "and we've seen that in policies across the board." Chevron's CEO highlighted the elimination of red tape in permitting processes that streamline the path from application to approval. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We've seen a reversal of policies that stopped lease sales in the deep water [of the] Gulf of America, and we've now resumed lease sales in an area that's got tremendous potential," Wirth said. "The thing that would be really most important now is to see those codified in legislation that ensures that they're durable. We've got a long-term plan that we have continued to follow," he expanded. "We're investing two-thirds of our global capital spending, which is between $15 and $20 billion this year, is right here in the United States. If you go back a decade or more ago, it was reversed - most of the spending was going outside of this country." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/chevron-ceo-applauds-trump-administrations-energy-policy-shift-during-permian-basin-tour

Walt Disney World sees 3 deaths in less than 2 weeks: reports

Posted by radio1n1 — Sun, 26 Oct 2025 10:16 GMT

This story discusses suicide. If you or someone you know is having thoughts of suicide, please contact the Suicide & Crisis Lifeline at 988 or 1-800-273-TALK (8255). Three people have died over a 10-day span at Walt Disney World, according to reports. The most recent death involved a man in his 60s whose cause of death is pending by the Orange County Medical Examiner's Office, according to the New York Post. The individual was found at Disney's Contemporary Resort, located near the Magic Kingdom park. Prior to that, the Post reports, a man in his 60s died from a pre-existing medical condition at the Fort Wilderness campground. Before him, 31-year-old Disney superfan Summer Equitz died at the Contemporary Resort in what authorities reportedly called an "apparent suicide." DISNEY ANNOUNCES MAJOR PLANS TO COMMEMORATE AMERICA'S 250TH ANNIVERSARY People have taken to social media to post pictures and videos of the response to the incidents. "We woke up to a VERY large law enforcement outside our balcony this morning at Disney's Bay Lake Tower," someone posted on TikTok Thursday morning, showing first responders and crime scene tape. POPULAR RESTAURANT AT DISNEY SHOPPING AREA ROBBED BY SUSPECT IN SCUBA GEAR "We were told it was a 'medical emergency'. Prayers to the family & those involved," the post concluded. Since opening in 1971, 68 people have died at Walt Disney World, the Post reported. "There's this weird phenomenon where people who are severely depressed but want to have that one last good happy family memory will go to Walt Disney World," Jim Hill of the "Disney Wish" podcast told the Post in 2022. "They'll deliberately book a room at the Contemporary Resort, which is 14 stories tall. And after that happy family time, they will throw themselves off the building," he said. Details of the recent deaths at the resort have not been revealed. CLICK HERE TO READ MORE ON FOX BUSINESS FOX Business reached out to Walt Disney World and the Orange County Medical Examiner for more information, but neither immediately responded. via: https://www.foxbusiness.com/lifestyle/walt-disney-world-sees-3-deaths-less-than-2-weeks-reports

Judy Garland and Liza Minnelli's Cape Cod rental home sells for $6.8M

Posted by radio1n1 — Sun, 26 Oct 2025 07:00 GMT

Judy Garland and Liza Minnelli's former summer Cape Cod rental has hit the market for $6.8 million. The seven-bedroom, four-and-a-half bath home is in the center of Hyannis Port with views of the harbor and Nantucket Sound. The 5,000-square-foot cedar-shingled home was built in 1890 and was last sold 100 years later in 1990, according to the listing. Per Robb Report, Garland and Minnelli rented the home in the 1960s. Last summer, Minnelli opened up about her mother's death when the actress' life was showcased in "Liza: A Truly Terrific Absolutely True Story." PRISCILLA PRESLEY BLASTS LAWSUIT CLAIMING SHE PULLED PLUG ON LISA MARIE TO GAIN CONTROL OF ELVIS' ESTATE Minelli was 23 years old when Garland died. "My mother? Nah. She's never gonna pass," the actress recalled in the documentary, according to People. Garland died in 1969 from an accidental barbiturate overdose at the age of 47. It was four months before the premiere of "The Sterile Cuckoo," which earned Minnelli an Oscar nomination at age 23. It took some time for the news of Garland's death to sink in, and once she processed it, Minnelli cried. "I didn't stop for about eight days," she revealed. "It was just devastating to me." Minnelli developed a valium addiction following her mother's death, which led to drug problems and eventual stints in rehab. The musician most recently entered rehab in 2015. CLICK HERE TO READ MORE ON FOX BUSINESS Minnelli was just a toddler when she appeared alongside her mother Judy Garland in the 1949 musical "In the Good Old Summertime." Despite growing up in the public eye, Minnelli said her parents stressed the importance of having an identity in Hollywood. "I grew up around all of these wonderful people," the star told CBS' "Sunday Morning" in 2022. "And yet, my parents always said to me, 'No, you're your own. There's nobody like you.'" Garland and Vincente Minnelli worked together on the 1944 movie, "Meet Me in St. Louis." The couple tied the knot in 1945 and remained together until they called it quits in 1951. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/entertainment/judy-garland-liza-minnellis-cape-cod-rental-home-sells-6-8m

Texas mint turns molten silver into hot commodity as prices near record highs

Posted by radio1n1 — Sun, 26 Oct 2025 06:00 GMT

A newly opened silver mint outside Dallas is turning raw material into investment-grade bars as prices approach record highs, reflecting renewed investor appetite for tangible assets amid inflation and geopolitical tensions, according to FOX Business correspondent Lydia Hu. Hu reported the details Tuesday on "Varney & Co." and in a FOX Business segment from the Dallas-area mint. Silver eased to about $48 an ounce after spiking between $51 and $53 earlier in the week - slightly below record highs - but analysts and retail dealers say nationwide demand remains strong. GOLD AND SILVER SURGE TO RECORD HIGHS, EXPERT PREDICTS 'HUGE SHORT-COVERING RALLY' At the Dallas facility, technicians melt incoming material, remove impurities and quench the liquid metal in a large vat to create pure silver grain. Robotic arms feed the grain into molds, then an oven heats it to about 1,200 C (roughly 2,190 F) to form bars - a start-to-finish process built for speed as orders surge. The process underscores strong investor demand for physical silver, with sales of minted bars and coins rising sharply this year, according to Hu's reporting. Safe-haven buying has accelerated as investors weigh global economic jitters and concerns about the dollar's strength. Bank of America analysts, cited by Hu, say silver still has "room to run" but warn near-term volatility remains likely. Some analysts caution that high prices could slow retail demand if interest rates stay elevated. J.P. Morgan's metals team, in a May 1, 2025, note, lowered its demand forecasts for aluminum, steel and copper, warning that "the increasingly apparent loss in global demand momentum... will eventually drive further sustained falls in base-metals prices." The Dallas mint, operated by Dillon Gage - a Dallas-area precious-metals firm - produced a limited run of custom bars for the FOX family of brands during Hu's visit. Founded in 1976, Dillon Gage has been a cornerstone of the precious-metals industry for nearly 50 years. Headquartered in Dallas, the company runs one of North America's most advanced trading and refining operations, offering refining, minting and secure storage. Dillon Gage is ISO 9001:2015 certified and recognized worldwide for its commitment to integrity and innovation in the bullion marketplace. WHY TEXAS IS NOW AMERICA'S FINANCIAL POWERHOUSE With silver hovering near record levels and customers undeterred by higher prices, capacity is king. If the rally holds or extends, mints like this one in Texas are likely to stay red-hot as investors keep trading cash for cold, solid bars. READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/texas-mint-turns-molten-silver-hot-commodity-prices-near-record-highs

Trump calls Ford F-150 a 'hot truck' in enthusiastic presidential endorsement of top-selling America

Posted by radio1n1 — Sat, 25 Oct 2025 21:22 GMT

President Donald Trump handed Ford a ringing endorsement Saturday on his way to a week-long trip to Asia, noting the carmaker's F-150 model pickup truck is "a hot truck." The president's comments came after a reporter asked Trump aboard Air Force One en route to Malaysia about Japanese Prime Minister Sanae Takaichi's plans to purchase a large quantity of the vehicles. "Well, that's good. They're great trucks," Trump said. "She has good taste. That's a hot truck." FORD TO MOVE WORLD HEADQUARTERS FOR FIRST TIME IN NEARLY 70 YEARS The Ford F-150 has been the best-selling truck in the U.S. for many consecutive years, and was recently named the best-selling vehicle of 2025. He added he has heard "great things" about Takaichi, who took office Tuesday after being elected the first woman to lead Japan. "I hear great things about her," Trump said. "I think she's going to be great. She was a great friend of Mr. [Shinzo] Abe, who was a great man ... and a great friend of mine, as you know. He was just a fantastic person and he liked her a lot. She liked him a lot. So that's a good sign. I look forward to meeting her." FORD INVESTS $5B IN KENTUCKY AND MICHIGAN PLANTS FOR NEW 'AFFORDABLE' ELECTRIC PICKUP TRUCK PRODUCTION During the Asia trip, Trump is expected to discuss with Takaichi an increase in Japan's defense spending and vouch for more purchases of American weapons, according to a report from the Associated Press. Takaichi's interests will revolve around strengthening the Japan-U.S. alliance and cultivating a trust-based partnership between the two nations, the outlet reported. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Associated Press contributed to this report. via: https://www.foxbusiness.com/politics/trump-calls-ford-f-150-hot-truck-enthusiastic-presidential-endorsement-top-american-vehicle

Lucchese Bootmaker keeps American craftsmanship alive for over a century: 'Very proud of what we're

Posted by radio1n1 — Sat, 25 Oct 2025 20:59 GMT

Lucchese Bootmaker has spent more than a century perfecting its craft and continues to take pride in manufacturing the majority of its products on U.S. soil. Founded in 1883, the Texas-based retailer sells a range of luxury Western products but is best known for its cowboy boots, which are handcrafted using "the best raw materials," according to Doug Hogue, vice president of brand and product at Lucchese Bootmaker. "We feel that we make the most beautiful cowboy boot in the world," Hogue told FOX Business. "We're very proud of what we're doing." BJ'S WHOLESALE CLUB PLANS EXPANSION INTO TEXAS At the company's manufacturing facility in El Paso, as many as 200 artisans touch each boot. "I've seen a lot of companies go and move products overseas," Hogue said. "It's really important to us to keep that heritage, and it's really a very important part of our authenticity." The process of creating each cowboy boot begins with selecting the last - the form around which each boot is built - followed by the selection of materials. The company utilizes an "enormous" amount of exotic materials, including alligator, ostrich and crocodile, according to Hogue. "We make sure that every pair of boots match," he said. "... So they look like they come from a similar animal." HOME DECOR RETAILER FILES FOR CHAPTER 11 BANKRUPTCY AS PART OF RESTRUCTURING Once materials are chosen, the components are cut, stitched, embroidered and assembled. "The boots are made inside out," Hogue said. "So everything is stitched from the inside, and it gets partway through the assembly process, and they're actually pulled through so they're right side out." From there, the boots move through lasting and welting, followed by a finishing process that involves sanding, staining and polishing. The entire process takes roughly four to six weeks to complete, according to Hogue. "Every boot is made one at a time, he said. "There are not racks of 24 or 36 or 48 boots that run through all at the same time. Each boot is individual." ROSS STORES THRIVES WITH MAJOR EXPANSION PLANS WHILE RETAIL GIANTS CLOSE LOCATIONS NATIONWIDE The company's best-selling mens "Original Exotic" boots retail for about $3,995, while its classic "Original" mens boots are priced around $1,195, according to its website. While boots remain at the heart of Lucchese's business, the company also sells cowboy hats, dress shirts, sports jackets, handbags, accessories, clothing, wallets, travel gear and more, according to its website. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We make a whole range of products for the Western lifestyle," Hogue said. "It's not just cowboy boots. ... We try to be able to outfit our male and female consumers from head to toe. ... We're a lifestyle brand and not just a boot maker." via: https://www.foxbusiness.com/retail/lucchese-bootmaker-keeps-american-craftsmanship-alive-over-century-very-proud-what-were-doing

ExxonMobil claims California climate disclosure laws violate First Amendment rights in lawsuit

Posted by radio1n1 — Sat, 25 Oct 2025 19:43 GMT

ExxonMobil has sued the state of California, alleging that two climate change laws infringe on the company's right to free speech, according to multiple outlets. The company filed the complaint in the U.S. Eastern District Court for California on Friday, claiming the new laws force it to agree with the state's viewpoint on climate change, specifically that oil and gas corporations take particular blame, according to Bloomberg. One of the bills requires large companies doing business with the state to disclose their greenhouse emissions each year. The second law requires businesses doing more than $500 million with the state to write a report every other year on how climate change could affect its business. MAJOR BUSINESS GROUP INTERVENES TO BLUNT NEWSOM LAWSUIT ATTEMPTING TO REINSTATE EV MANDATES Both laws require ExxonMobil to comply with California's Greenhouse Gas Protocol and Task Force on Climate-related Financial Disclosures, which the company reportedly claims forces it to take blame for global warming. "ExxonMobil understands the very real risks associated with climate change and supports continued efforts to address those risks," the company said in its filing, according to Bloomberg. "California may believe that companies that meet the statutes' revenue thresholds are uniquely responsible for climate change; but the First Amendment categorically bars it from forcing ExxonMobil to speak in service of that misguided viewpoint." ExxonMobil was not immediately available for comment on Saturday. "Truly shocking that one of the biggest polluters on the planet would be opposed to transparency," a spokesperson for California Gov. Gavin Newsom's office told FOX Business. "These laws have already been upheld in court and we continue to have confidence in them." The company also claimed in the filing that one of the state laws conflicted with a federal law that regulates what companies must disclose about climate and financial risks, according to Bloomberg. The company has asked the court to prevent the laws from going into effect in 2026. via: https://www.foxbusiness.com/energy/exxonmobil-claims-california-climate-disclosure-laws-violate-first-amendment-rights-lawsuit

Trump slaps Canada with extra 10% tariff over 'fraudulent' Reagan advertisement: 'Hostile act'

Posted by radio1n1 — Sat, 25 Oct 2025 16:36 GMT

President Donald Trump announced Saturday that the U.S. will impose an additional 10% tariff on Canadian imports, citing a "fraudulent advertisement" featuring former President Ronald Reagan speaking out against tariffs. Trump claimed that the ad, which aired during the World Series that began Friday, was part of Canada's "hope that the United States Supreme Court will come to their 'rescue' on Tariffs that they have used for years to hurt the United States." "Canada was caught, red handed, putting up a fraudulent advertisement on Ronald Reagan's Speech on Tariffs," Trump posted to Truth Social on Saturday. "The Reagan Foundation said that they, 'created an ad campaign using selective audio and video of President Ronald Reagan. The ad misrepresents the Presidential Radio Address,' and 'did not seek nor receive permission to use and edit the remarks.'" TRUMP ENDS CANADA TRADE TALKS OVER 'FAKE' RONALD REAGAN TARIFF AD: 'EGREGIOUS' Trump accused Canada of misrepresenting Reagan, claiming the late president "loved tariffs" when it came to national security and the economy. "Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD," Trump said. TRUMP DEFENDS TARIFFS, SAYS US HAS BEEN 'THE KING OF BEING SCREWED' BY TRADE IMBALANCE He added, "Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now. Thank you for your attention to this matter!" The Ronald Reagan Presidential Foundation and Institute is exploring legal options in response to the incident, according to Trump. The announcement follows just days after the President said he was terminating trade negotiations with Canada due to the advertisement. CANADA LIFTS TARIFFS ON SOME US GOODS TO RESUME TRADE TALKS "The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs," Trump wrote on Truth Social on Thursday. Earlier this month, Trump defended his use of tariffs as a corrective to what he called years of trade imbalance, saying that the United States had been "the king of being screwed by tariffs" but would no longer allow other nations to exploit it. "We're the king of being screwed by tariffs," Trump said during a bilateral meeting with Canadian Prime Minister Mark Carney in the Oval Office. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Ronald Reagan Presidential Foundation and Institute did not immediately respond to Fox News Digital's request for comment. FOX Business' Amanda Macias and Landon Mion contributed to this report. via: https://www.foxbusiness.com/politics/trump-slaps-canada-extra-10-tariff-fraudulent-reagan-advertisement-hostile-act

Trump's New Jersey Generals jacket up for auction

Posted by radio1n1 — Sat, 25 Oct 2025 13:00 GMT

A jacket owned by President Donald Trump, while he was the owner of the New Jersey Generals is up for auction. During the three-year stint of the United States Football League, which attempted to rival the NFL, Trump owned the team that represented New Jersey and played at Giants Stadium. Forty years after the last USFL game, Trump's Generals jacket is now up for auction through Grey Flannel Auctions. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM The white jacket is embroidered with "Trump" on the right chest and a Generals' helmet on the left. The collar, wrists and bottom of the jacket feature the team's colors, while there are some stains on the inside and near the buttons. "This jacket is properly marked and presented to us as an owner's jacket," the auction house's description of the jacket says. Trump attempted to own a team in the NFL on at least two occasions, including the then-Baltimore Colts and the Buffalo Bills before running for president. KNICKS SEND CEASE-AND-DESIST TO MAMDANI OVER LOGO USE, SAY THEY 'WANT TO MAKE IT CLEAR' THEY DON'T ENDORSE HIM Trump took over ownership of the Generals in 1984 after originally trying to buy the team ahead of the franchise's first game. Under Trump's ownership, the Generals went 25-11 (14-4, 11-7) and made the playoffs in each of his two seasons, but lost in their first playoff game both years. Herschel Walker and Doug Flutie starred for the Generals before going on to have respective careers in the NFL. Trump wanted to move the Generals to New York, but the league folded in 1986, shortly after it was set to move its schedule from spring and summer to fall to directly compete with the NFL. GET FOX BUSINESS ON THE GO BY CLICKING HERE The bidding is up until Nov. 16, 2025. via: https://www.foxbusiness.com/sports/trumps-new-jersey-generals-jacket-up-auction

The sophisticated technology allegedly used in poker scandal linked to the NBA, mafia

Posted by radio1n1 — Sat, 25 Oct 2025 12:16 GMT

The Department of Justice detailed the technology allegedly used by NBA stars, organized crime members and their associates to rig high-stakes poker games and cheat victims out of millions of dollars. A range of sophisticated equipment, including altered shuffling machines, wireless communication, a chip tray analyzer and an X-ray table were allegedly used by the individuals indicted for their roles in the rigged games at various locations in New York City, East Hampton, New York and throughout the U.S., the Justice Department said. "For years, these individuals allegedly hosted illegal poker games where they used sophisticated technology and enlisted current and former NBA players to cheat people out of millions of dollars," NYPD Commissioner Jessica Tisch said in a statement. "This complex scheme was so far reaching that it included members from four of the organized crime families, and when people refused to pay because they were cheated, these defendants did what organized crime has always done: they used threats, intimidation, and violence." NBA LEGEND CHAUNCEY BILLUPS, HEAT'S TERRY ROZIER ARRESTED AS PART OF FBI GAMBLING PROBE Altered Shuffling Machines While they appeared normal, these machines had hidden components that gave the members of this scheme an advantage. In a typical legitimate poker game, according to the indictment, a dealer uses a shuffling machine to shuffle the cards randomly before dealing them to all the players in a particular order. But in the rigged games, the shuffling machines contained hidden technology allowing them to read all the cards in the deck before dealing them. 7 NBA GAMES DOJ SAYS WERE AFFECTED BY HIGH-STAKES WAGERS AFTER INSIDE INFORMATION WAS LEAKED TO GAMBLERS Wireless Communication Since the cards were always dealt in a particular order to the players, the machines could effectively determine which player would have the winning hand. That information was then allegedly transmitted to someone off-site, who then transmitted that information through a cellphone back to the player at the table. The player who was programmed to win was referred to as the "Quarterback" or "Driver." NBA GAMBLING PROBE REVEALS 'WILD WEST' OF PRIVATE CARD GAMES; ONLY MATTER OF TIME BEFORE SOMEONE FLIPS: EXPERT Chip tray analyzer The defendants also allegedly used a chip tray analyzer. It looks like an ordinary poker chip tray, which holds the dealer's chips during a game, but it was modified with hidden cameras, giving it the ability to secretly read all cards. X-ray Table The X-ray table could read cards face down on the table. However, the conspirators also allegedly used special contact lenses or eyeglasses that could read pre-marked cards. GET FOX BUSINESS ON THE GO BY CLICKING HERE All the devices allegedly allowed the cheating team to know which player would win each hand, allowing them to bet accordingly. In turn, the unsuspecting players would lose a significant amount of money, sometimes tens or hundreds of thousands of dollars in a single game that was allegedly funneled to organized crime families, according to the indictment. via: https://www.foxbusiness.com/lifestyle/sophisticated-technology-allegedly-used-poker-scandal-linked-nba-mafia

Amazon unveils high-tech eyeglasses, AI to boost efficiency of deliveries

Posted by radio1n1 — Sat, 25 Oct 2025 11:55 GMT

Amazon's Delivering the Future Summit kicked off this week to showcase the future of the e-commerce giant's delivery wing. But amid its push to become more efficient, concerns have emerged that it may come at a steep cost - jobs. The New York Times recently reported, citing interviews and internal strategy documents, that Amazon's automation push could allow the company to avoid hiring 160,000 fewer people by 2027 and more than 600,000 fewer people by 2033. But Amazon's chief technologist for robotics, Tye Brady, sees it differently. Brady said the robots he's developing are meant to help humans, not replace them. "Our strategy is people and machines working together. The growth that we've seen is because of this mindset of machines augmenting and amplifying the human potential," said Brady. "We build our machines in a way that allows our employees to have the best tool set in the world in order to do their jobs, not only safer, but also with more efficiency." AMAZON DEFENDS AMBITIOUS AI STRATEGY THAT COULD PREVENT 600,000 FUTURE HIRES THROUGH INNOVATION Brady said no current employees will be laid off, and the more efficient the robots, the more delivery centers Amazon can put across the country, which would result in more jobs, not fewer. One of those robots was on display Wednesday at a delivery center in Milpitas, California, about 15 minutes north of San Jose. It's a project Brady has been working on for years, codenamed "Blue Jay." It's an AI-powered robotic arm that can pick and sort hundreds of millions of differently shaped items at one station, handling repetitive tasks normally assigned to frontline employees. The smaller footprint means "creating the efficiencies that we know our customers love by passing along a low cost to our customers and also creating a safer environment for our employees so they don't have to pick items from the top of our shelves or the bottom of our shelves," said Brady. Factory workers aren't the only ones getting some AI relief - delivery drivers will soon be wearing smart glasses specially designed to keep their hands free, allowing them to pick up boxes and carry them with both hands, reducing the risk of injury in a fall. It also means no more having to carry a phone to take pictures of the packages at the front door. "They don't need to look at a phone, enter information into a phone," said Beryl Tomay, vice president of transportation at Amazon. "They can focus on their surroundings instead, and it enhances their safety as well. So, just to make it a little bit more real, when a driver parks their vehicle, they can just go in the back, glance around, and the glasses will tell them which specific packages to pick up." AMAZON HIRING 250,000 WORKERS FOR UPCOMING HOLIDAY SEASON The glasses don't record drivers' activities, and have been tested in pilot programs and received positive feedback. "We've tested this with hundreds of drivers over the past few months, and the feedback has been that they love it. It enhances their safety because they can focus on their surroundings," said Tomay. Amazon also plans to convert its entire fleet to electric vehicles, with 100,000 EVs by 2030. It's a step toward not just driver safety, but the company's goal to be at the forefront of sustainability. "So many things we're doing in sustainability right now are really thinking about how we are using resources more efficiently," said Kara Hurst, Amazon's chief sustainability officer. "So, how we're using more carbon-free energy in the ways that advance our operations, how we're looking at water and thinking about it as a natural resource." And as Amazon focuses increasingly on AI integration, powering these data centers is top of mind. Hurst said the company is exploring small modular nuclear reactors, as well as fusion and geothermal technologies. "The energy space is really growing and has a lot of potential for those new technologies," Hurst said. GET FOX BUSINESS ON THE GO BY CLICKING HERE Other technologies unveiled at the summit included disaster relief technology kits that can be deployed after natural disasters, providing everything from solar and battery power to networking connectivity to drones for assessing damage. The company sees itself as much more than an online storefront. "I really believe that the work that we're doing, the pioneering work that we are doing inside of Amazon, will start to transcend and others will see, 'Hey, it's not a replacement strategy, it is an augmentation strategy and that makes a huge difference,'" said Brady. "So, what do we get in the end? We have machines allowing us to be more connected to one another, allowing us to do our jobs better, and allowing us, frankly, just to be human." via: https://www.foxbusiness.com/technology/amazon-unveils-high-tech-eyeglasses-ai-boost-efficiency-deliveries

Gene Hackman's deeply personal art collection and awards head to auction, months after actor's death

Posted by radio1n1 — Sat, 25 Oct 2025 07:00 GMT

A trove of Gene Hackman's personal artworks and awards will be brought to auction in November, nine months after the late actor's death. Bonhams international auction house secured more than 400 items from Hackman's estate, including his own drawings and cinematic memorabilia. The "deeply personal" collection also features a number of trophies, including Hackman's best performance Golden Globe award for his role as an eccentric patriarch in "The Royal Tenenbaums." GENE HACKMAN DEATH INVESTIGATION: NEW CLUES RAISE MORE QUESTIONS, EXPERTS SAY CELLPHONES MAY HOLD THE ANSWERS The cast gilt metal globe on a marble base is valued from $3,000 to $5,000. Additionally, Hackman's best performance Golden Globe award for the 1992 film "Unforgiven" is also available for auction. "The Gene Hackman Collection: A Life in Art" offers buyers a "rare window into the mind of a profoundly disciplined and instinctive artist," according to Bonhams. A series of three single-owner auctions will be hosted across one live and two online sales next month. GENE HACKMAN'S SANTA FE ESTATE COULD FETCH BIG BUCKS Potential buyers have the opportunity to bid on pieces created by the "Heartbreakers" actor, including still-life drawings, self-portraits and handwritten notes featuring Hackman's signature. Fine art by Richard Diebenkorn is valued at over $300,000, while Milton Avery's "Figure on the Jetty" will go up for sale at $700,000. Work by Wassily Kandinsky is expected to bring in up to $15,000. Hackman's personal Seiko stainless steel "Pepsi" quartz wristwatch should fetch anywhere between $600 and $800, and an Everett Raymond Kinstler portrait of the late star will go up for sale at $2,000. Annotated books from his library, scripts and posters will also be featured in the live and online auctions. Hackman pursued his love of painting after leaving Hollywood behind and immersing himself in Santa Fe culture. GET FOX BUSINESS ON THE GO BY CLICKING HERE Jennifer LaBar-Tapia, the Santa Fe Film Commissioner, previously told Fox News Digital that the "Superman" star supported the community and the arts. "Gene Hackman is an icon, as all film fans know. But having Gene Hackman the neighbor here, he was just a man about town," she said. "He was very approachable. He and his wife were woven deep into our community. She was a business owner. He sat on the board of directors for our Georgia O'Keeffe Museum." "He invested in a handful of restaurants here in Santa Fe, so he was very much a foodie. He was an artist. He was an author. So really, his time in Santa Fe was really toward the end of his career as Gene Hackman, the actor that we already knew him as. But we got the privilege of getting to know him as the author, the artist and the foodie." CLICK HERE TO READ MORE ON FOX BUSINESS Hackman died due to hypertensive atherosclerosis cardiovascular disease, with Alzheimer's disease as a significant contributing factor, New Mexico officials confirmed to Fox News Digital. He was likely alone in the home for about a week until he died around Feb. 18, which was the last time activity was recorded on his pacemaker. Betsy died due to hantavirus pulmonary syndrome, which is transmitted from animals to humans and is commonly found in rodents, the New Mexico Department of Health confirmed. Hantavirus is characterized by "flu-like symptoms consisting of fever, muscle aches, cough, sometimes vomiting and diarrhea that can progress to shortness of breath and cardiac or heart failure and lung failure," Chief Medical Investigator Dr. Heather Jarrell explained during the news conference. Shortly after their deaths, the Hackman estate was awarded a temporary restraining order against the release of records regarding the deaths of Gene and Betsy. The order stated that the "Office of the Medical Investigator and the Santa Fe County Sheriff's Office, including each entities' agents, assigns, and employees are hereby temporarily restrained from disclosing through IPRA or other means, any and all photographs or videos containing images of the following: the body of Gene Hackman, the body of Betsy Arakawa-Hackman, the interior of Mr. and Mrs. Hackman's residence." Additionally, "any lapel video footage," including the Hackmans' bodies or footage of "images of any deceased animals at the Hackman residence," was added to the temporary restraining order. via: https://www.foxbusiness.com/entertainment/gene-hackmans-deeply-personal-art-collection-awards-head-auction-months-after-actors-death

Inside Mark Wahlberg's new $37M Florida sanctuary as celebrities continue exodus from California

Posted by radio1n1 — Sat, 25 Oct 2025 06:00 GMT

South Florida's most recently-coined "Billionaires' Row" is welcoming home a new Hollywood heavyweight, and the celebrity buyer's agent who closed the $37 million deal is revealing that his high-profile clients don't fall in love with the home first, but rather the area. "I really try and dig deeper ... with my buyers. I really want to get down to, how do you want to spend your time here? What's important to you? Do you play golf? Do you play tennis? Is the beach important? What does your wife like to do? Are you into boating? How important is going out to dinner?" Compass' Michael Costello told Fox News Digital. "I tell everyone, you don't fall in love with the house - you've got to fall in love with the area. You can change your home as much as you want, but you can't change the location." Costello, one of the highest-producing real estate agents in Florida, recently represented actor Mark Wahlberg in the purchase of a fully furnished Italian-style mansion named Palazzo di Lago in the gated Stone Creek Ranch community in Delray Beach. THE WEEKND DROPS $54.9M ON WATERFRONT MANSION IN EXCLUSIVE FLORIDA ENCLAVE, BREAKING LOCAL RECORD Realtor.com recently dubbed the neighborhood "Billionaires' Row," a title previously and more commonly associated with the Palm Beach waterfront properties along South Ocean Boulevard. "I first discovered Stone Creek Ranch back in, I think, 2018 [or] 2019. I had a client living on the water in Gulf Stream, which is kind of northeast of Delray, and their kids were going to school more inland, and they were getting tired of the commute," Costello recalled. "And I kind of stumbled across Stone Creek Ranch, and you drive in there, and it's like this little oasis. There are beautiful lakes and bridges and large, large lots and beautiful homes." The 18,206-square-foot property - featuring seven bedrooms, 10 full bathrooms, a seven-car garage, guesthouse, resort-style pool, home theater, gym, sauna, wine cellar, cigar lounge and more - was originally listed in March for $45 million. It sits on 2.7 acres, offering immense privacy - something Costello says his clients value most. "The thing I really try and do is protect my clients' identity and their privacy as much as possible," Costello said. "When you're calling listing agents to show properties, the listing agent, it's their job to really vet buyers just so you're not getting people just coming on the property that aren't qualified to buy. . . . Over the last five years or so, we've had a handful of NDAs we get from the more high-profile clients, [but] I wouldn't say it's commonplace." Listing agent Senada Adzem of Douglas Elliman, who represented the seller, declined to comment to Fox News Digital about the transaction. In a press release announcing Wahlberg's acquisition, Stone Creek Ranch is described as "a haven where world-class design meets complete discretion." The release added that recent sales of two architectural showpieces - the "James Bond House" and the "Ferrari House" - highlight the enclave's international appeal. Two new listings are expected soon, priced at approximately $75 million and $100 million, each poised to set the next benchmark for ultra-luxury estates in South Florida. When it comes to what a buyer like Wahlberg may want in a luxury retreat, Costello says every client is different, but most prefer homes with "nice finishes" and plenty of attention to detail. "Some people, they want views, right? They want to be on the water, or they want something with a lot of privacy, or they want a large pool, elaborate gyms or theaters," he noted. "I'd say the most common 'must' would be high quality features in these homes - natural stones, marble, French oak flooring ... nice finishes would be the common denominator." Top-tier agents and their clients often showcase properties that go beyond the norm. Costello recalls once chartering a helicopter for a prominent New York City developer who moved to South Florida just before the pandemic. "We kind of buzzed around [Palm Beach] county in the helicopter. And again, we're looking at major estates, properties from the air, and seeing the size and the scale," he said. "He appreciated me doing that and thinking outside the box, rather than putting him in a car and spending a half-hour travel time between each showing." Wahlberg's Delray Beach purchase follows the sale of his Beverly Hills estate to Paris Hilton, which closed in June for $63.1 million, The Wall Street Journal reported. The man once known as "Marky Mark" now joins the growing list of celebrities and high-net-worth individuals who have left California for Florida. After closing the high-profile deal, Costello says he's looking ahead to a "really busy" season and sees other hot spots like Delray Beach and Jupiter attracting more luxury buyers. GET FOX BUSINESS ON THE GO BY CLICKING HERE "The last six to eight weeks, we've had a ton of showings. People are definitely here looking to buy," Costello said. "I've talked to other agents, and they're all saying the same thing." "I'm blessed to have great clients. I've gotten really, really lucky. I think hard work plays a factor, but there's a lot of luck involved, and ... this business is definitely driven by, 'You get what you give.'" READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/inside-mark-wahlbergs-new-37m-florida-sanctuary-celebrities-continue-exodus-from-california

Defense startup's 'Blackbeard' hypersonic weapon gets military integration contract with Pentagon

Posted by radio1n1 — Fri, 24 Oct 2025 22:53 GMT

U.S. defense startup Castelion announced on Friday it will integrate its affordable, long-range, hypersonic strike weapons with operational Army and Navy platforms. Under the recently signed contract agreement, Castelion will work with both military branches to integrate its hypersonic "Blackbeard" weapon system onto operational platforms and participate in live-fire tests. The company said the new weapon technology will advance the Department of War's effort to evaluate and accelerate new, cost-effective strike capabilities for conventional deterrence. TRUMP, AUSTRALIAN PM SIGN $8.5B CRITICAL MINERALS DEAL TO COUNTER CHINA DOMINANCE IN RARE EARTHS "These integration contracts validate that affordability and speed are critical to modern deterrence," Castelion CEO Bryon Hargis wrote in a statement. "Castelion leads the market designing for manufacturability and rapid iteration, enabling the Department of War to move faster from concept to capability." "Blackbeard" is Castelion's first long-range, hypersonic strike weapon, designed for mass production and rapid fielding once integration and testing are complete. HOWARD LUTNICK RIPS ATLANTA FED GDPNOW CONTRACTION PREDICTION The system uses integrated propulsion and guidance technology to deliver high performance at a fraction of the cost of older weapons, which the company said supports the War Department's goal of creating a large-scale, credible non-nuclear deterrent. Castelion, which was founded just three years ago, is headquartered in Torrance, California, with additional facilities in Texas. The company's first weapon system, "Blackbeard," went from "blank sheet design" to more than 20 developmental test flights in less than 18 months, which Castelion said demonstrates its leadership in rapid, scalable weapons development. COMMERCE SECRETARY LUTNICK CELEBRATES TRUMP'S 'MONSTER' EU TRADE DEAL AS 'HUGE' WIN FOR AMERICA In May, Secretary of War Pete Hegseth said the Pentagon was working to stay ahead of China amid an arms race with the communist country and adversaries like Russia and Iran. Hegseth told Fox News host Will Cain the Pentagon was building up a U.S. military that could deter future conflict between the two nations. GET FOX BUSINESS ON THE GO "We don't want that conflict. You showed how big they are," Hegseth said. "President [Donald] Trump has a great relationship with Xi Jinping - we think that's a good thing. ... We're the ones in the background trying to say we would always prefer to resolve this peacefully. But we're going to do that by being as strong as possible to meet their threat at every turn." Fox News Digital's Ashley Carnahan contributed to this report. via: https://www.foxbusiness.com/politics/defense-startups-blackbeard-hypersonic-weapon-gets-military-integration-contract-pentagon

Why scholars condemn capitalism and lean into socialism

Posted by radio1n1 — Fri, 24 Oct 2025 17:02 GMT

The 20th century was the best of times and the worst of times. On the dark side, as many as 270 million citizens were estimated to have been killed by governments that describe themselves as socialists - on the left and the right. On the bright side of the 20th century was the success of free market capitalism, which helped lift well over one billion people out of poverty. So why do so many scholars condemn capitalism and lean into socialism? Even the brilliant free market economist Tom Sowell started out as a Marxist. So, what changed his mind? "Facts. Before I was a Marxist, I was an empiricist, and I stayed an empiricist. And with the passing years, as I looked into more and more things, I saw the difference between reality and the rhetoric. Unfortunately, so many people today, including at the leading universities, don't pay much attention to evidence," Sowell told FOX Business in 2019. A recent survey shows a large number of college students prefer socialism to capitalism, with almost half praising oppressive countries such as Cuba over the U.S. BESSENT WARNS AGAINST NYC BAILOUT UNDER MAMDANI Our own Big Money Show Co-Host Brian Brenberg saw it firsthand as an economics professor. I asked him why socialism still has pull for so many college students. "College is one of the only places where bad ideas can keep living because they never get tested against reality. So, professors, they study these things, they love the ideas of what socialism promises. They never have to do them in real life. They spend their academic career filling kids' heads with these ideas. Kids who gotta go out in the real world" Brenberg said. KUDLOW ON NYC MAYORAL CANDIDATE MANDAMI Six years ago, I asked Tom Sowell if we'd have to suffer through socialist policies before rejecting it. "I do have a great fear that in the long run we may not make it." GET FOX BUSINESS ON THE GO BY CLICKING HERE Now, I love Sowell. He's one of the most brilliant men I've ever met, but at the same time, I'm hoping he's dead wrong on this point. via: https://www.foxbusiness.com/markets/why-scholars-condemn-capitalism-lean-socialism

Trump admin moving to roll back Biden-era CFPB registry rules

Posted by radio1n1 — Fri, 24 Oct 2025 13:02 GMT

The Trump administration is moving to roll back Biden-era rules at the Consumer Financial Protection Bureau (CFPB) that required businesses subject to federal regulatory orders to submit those for listing on CFPB registries. A pair of documents obtained exclusively by FOX Business showed the CFPB is planning to issue an order rescinding a rule known as the NBR Orders Rule that required nonbank entities subject to orders issued by government agencies related to financial products to report those orders to a CFPB registry. "The Bureau is finalizing the rescission of the NBR Rule based on concerns that the costs the rule imposes on regulated entities, which may be passed on to consumers, are not justified by the speculative and unquantified benefits to consumers discussed in the analysis proffered in the NBR Rule," the agency wrote. The NBR Rule was finalized in July 2024 and took effect in September of last year. The Biden-era CFPB believed the rule would advance the agency's market monitoring and nonbank supervision responsibilities by collecting and publishing information about orders applying to nonbanks and steps taken to comply with those orders. STATE TREASURERS PUSH CFPB ON THIRD-PARTY FINANCIAL DATA ACCESS RULE "Specifically, it believed that the Bureau's establishment of a centralized system for collecting and publishing information about covered orders against covered nonbanks would lead to more efficient and effective monitoring, detection, assessment, public awareness, and mitigation of the risks posed to consumers by violations of Federal consumer financial law, including repeat violations," the agency said. CFPB estimated that the compliance burden would include 35 hours of paperwork, including five hours for the initial registration, and 30 hours for the annual report, including recordkeeping costs. It also estimated that the NBR Rule would impact between 1,550 and 7,752 covered nonbanks and cause them to incur a labor cost of $350 each for the initial registration and $2,100 for the annual reporting cycle. TRUMP ADMIN MOVES TO CRACK DOWN ON USE OF REGULATORY 'GUIDANCE' AT CFPB In moving to rescind the rule, the CFPB determined that the "NBR Rule is not a necessary tool for monitoring and reducing risks to consumers from bad actors," in part because there are other federal and state agencies enforcing consumer finance laws. Earlier this year, the CFPB announced that it wouldn't enforce the NBR Orders Rule, and the upcoming order would formally rescind the regulation. The CFPB is also moving to withdraw a proposed rule that would collect information about supervised nonbanks' use of terms and conditions in form contracts that look to limit consumers' legal rights. APPEALS COURT CLEARS WAY FOR TRUMP ADMIN TO RESUME CFPB MASS FIRINGS Among the limitations it looked to address were waivers of claims consumers can bring in a legal action or to determine the timeframe or forum of such an action, limits on company liability to a consumer, limits on the consumers' ability to participate in class action lawsuits, curbs on the ability of consumers to complain or post reviews, and arbitration agreements. The CFPB said the rule would've imposed significant burdens on covered nonbanks that "are not justified by their uncertain and speculative benefits." The agency added that it has considered changes and updates to its policies, agenda and objectives in withdrawing the proposed rule. GET FOX BUSINESS ON THE GO BY CLICKING HERE The proposed rule was published on Feb. 1, 2023, but wasn't finalized and will be withdrawn under the pending CFPB filing. via: https://www.foxbusiness.com/politics/trump-admin-moving-roll-back-biden-era-cfpb-registry-rules

Luxury tower on NYC's 'Billionaires' Row' faces facade crack issues

Posted by radio1n1 — Fri, 24 Oct 2025 12:04 GMT

The slender 102-story tower at 432 Park Ave., sitting on a stretch of ultra-luxury residential skyscrapers known as Manhattan's Billionaires' Row, is experiencing issues with its facade, according to a recent report. The facade of 432 Park Ave. - one of the tallest residential buildings in the Western Hemisphere, is visibly damaged with hundreds of cracks, indicating that the structure is struggling to withstand the wind and rain, according to independent engineering experts, construction reports and court filings obtained by The New York Times. The engineers warned that if the problems aren't addressed, then the building could eventually become uninhabitable or pose safety hazards for pedestrians below, according to the report. Those fixes could come at a hefty cost, with the engineers estimating it could be in the ballpark of nine-figures, the Times reported. Thousands of pages of court documents, public records and private correspondence between the buildings' residents and planners, reviewed by the Times, showed that members of the buildings' team of developers, engineers and architects were concerned about the concrete even before they broke ground on construction. The issues have prompted lawsuits from members of the building's condo board. NEARLY 1 IN 5 AMERICAN HOMES SLASH PRICES AS BUYERS GAIN UPPER HAND IN SHIFTING MARKET The city is arguing that the most recent inspections revealed that its facade is safe. A spokesperson for 432 Park also told FOX Business that the claims the building is unsafe are baseless. The building was designed by Rafael Vi oly and rises 1,396 feet above Park Ave. between 56th and 57th streets. It is described as an extraordinary creative collaboration that melded "Palladian-proportioned rooms with the highest engineering technology, honest materials and versatile planning," according to its website. The New York City Department of Buildings said buildings in the city that are more than six stories tall are subject to the requirements of the department's Facade Inspection & Safety Program, commonly referred to as Local Law 11. This law requires building owners to hire a qualified exterior wall inspector (QEWI), and have their building's facade inspected at least once every five years. Those inspection reports are required to be filed with the Department of Buildings and are made public. FROM AMERICA'S 'WORST MARKET' TO WEALTH HAVEN: FLORIDA REAL ESTATE SPLIT SHOWS SIGNS OF LIFE The most recent facade inspection filed on April 15, 2025, showed that 432 Park Ave.'s exterior walls are "safe with a repair and maintenance program" (SWARMP). This means the 432 Park Ave.'s wall or parts of the wall were safe at the time of the inspection but need repairs or maintenance within the next five years to keep them from becoming unsafe. In 2022, an inspection found unsafe conditions during a facade inspection at the building, according to records obtained by FOX Business. But, as required by law, the inspector notified the department, filing an unsafe notification with it in October 2022. The department said the owners of the building made subsequent repairs to remediate these unsafe conditions. A new report was filed in February 2023 indicating that the facade of the building was in SWARMP condition. REAL ESTATE VETERAN WARNS 'HOPELESSNESS' IN HOUSING MARKET THREATENS THE AMERICAN DREAM The department told FOX Business that none of the parties associated with the building approached it with new information indicating structural stability or life safety concerns with the building. The department is also not aware of any current unsafe conditions on the building's facade that require pedestrian protection measures. Still, 432 Park Ave.'s condo board filed two separate suits in which it accused the building's developers of selling them defective units as well as fraudulently covering up the issues, the Times reported. A spokesperson for 432 Park told FOX Business that the claims that the facade is deteriorating are contradicted by the board's own engineers, who have certified the facade as SWARMP. The spokesperson also noted that the design team, sponsor, the contractors "and each of their respective experts disagree with the board's meritless allegations and reaffirm that this should be resolved in court and not in the press." GET FOX BUSINESS ON THE GO BY CLICKING HERE The building further claimed that the board "neglected to follow the recommended facade maintenance program" that requires reapplying a protective sealer solution to extend the related warranty. "In contrast to its hyperbolic allegations, the Board has spent less than $300,000 on facade repairs in five years, while also spending more than $20 million on legal fees and consultants," the spokesperson said, adding that "assertions that the Sponsor ignored risks are categorically untrue, defamatory, and yet another misstep by the Board that will drive down property values and harm unit owners." via: https://www.foxbusiness.com/lifestyle/luxury-tower-nycs-billionaires-row-faces-facade-crack-issues

Energy titan Harold Hamm praises Trump's move to refill oil reserve, warns of 'price shock' if US st

Posted by radio1n1 — Fri, 24 Oct 2025 10:47 GMT

An American business magnate in the oil and gas industry is praising the Trump administration's latest move to strengthen U.S. energy independence and bolster national security. "This is a good start, with the president agreeing to start filling the [Strategic Petroleum Reserve]. But prices are, of course, in kind of the bottom of the barrel, as we say, commodity prices are lowest. It's certainly the time to buy this cheaper product and refill [the] SPR with it," Continental Resources founder and Chairman Harold Hamm said on "Mornings with Maria" Friday. "China has refilled theirs, they're refilling it up to 1.1 billion barrels, and while ours is about 400 million," he added. "So we need to refill it, the timing's right, the president gets it on energy and realizes, certainly, this is the right thing to do." EXPERT SAYS ENERGY ABUNDANCE WILL 'REBALANCE' AMERICA AS DEMAND HITS RECORD HIGHS NATIONWIDE On Tuesday, the U.S. Department of Energy announced it would buy 1 million barrels of crude oil to replenish the Strategic Petroleum Reserve - America's emergency oil stockpile. The Biden administration sold record amounts of oil from the SPR, Reuters reported - including a 180-million-barrel sale after Russia invaded Ukraine in 2022. The reserve's capacity is 700 million barrels and currently sits at about 409 million. "We started off with the Biden administration, the first thing he said was he's going to stop oil and gas production. And he's gonna kill the industry. And that's what he intended to do. And it was a terrible policy, and it certainly didn't work out well for him at all. And so with this administration, it's entirely different," Hamm said. "I think we've seen in many places in the world, especially recently, whether you're talking gas in Europe or critical minerals with China, energy security and national security are linked," he continued. "The U.S. is blessed with an abundance of natural resources, and we now have an administration that wants to see the energy industry invest in those resources to make sure that America's energy strength translates into economic strength and competitiveness and, importantly, security." GET FOX BUSINESS ON THE GO BY CLICKING HERE Looking ahead, Hamm cautioned that oil demand could soon outweigh affordable supply. "With about 18 months, that oversupply's going to be gone. And then we need to watch out for some price shocks after that point. Once you exceed demand with supply, that's when those things start happening," the business leader warned. "So we have to have an energy industry in this country. Energy independence is so important to us." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/energy-titan-harold-hamm-praises-trump-move-refil-oil-reserves-warns-price-shock-ahead-us-stalls

Over 140,000 bottles of popular cholesterol drug recalled

Posted by radio1n1 — Fri, 24 Oct 2025 09:42 GMT

Federal health officials are advising consumers that more than 140,000 bottles of cholesterol medication are being recalled due to "failed dissolution specifications." Several bottle sizes of Atorvastatin Calcium Tablets, 10-mg (Prescription Only), a medicine used to lower cholesterol and help prevent heart disease, heart attacks and strokes, are impacted by the recall, the Food and Drug Administration (FDA) said in an enforcement report. Atorvastatin Calcium Tablets are the generic form of Lipitor and is a medicine from a group called statins. It works by blocking an enzyme in the liver that the body uses to make cholesterol. EGG RECALL OVER SALMONELLA CONCERNS EXPANDS BEN'S ORIGINAL RICE PRODUCTS RECALLED NATIONWIDE OVER POTENTIAL INJURY RISK If a medication has "failed dissolution specifications," it means the drug did not dissolve in laboratory testing the way it is supposed to according to official standards. If a pill doesn't dissolve the way it should, the medicine might not work as effectively to control cholesterol levels. SPINACH RECALLED AFTER BATCH TESTS POSITIVE FOR POTENTIALLY HARMFUL BACTERIA The alert is considered a Class II recall, which is when the use or exposure to a product "may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote," according to the FDA's website. GET FOX BUSINESS ON THE GO BY CLICKING HERE The medication was manufactured by Alkem Laboratories and distributed by Ascend Laboratories LLC. There are eight lot numbers impacted with expiration dates ranging between July 2026 to February 2027. The bottle sizes included 90 tablets, 500 tablets and 1,000 tablets. FOX Business reached out to Alkem Laboratories and Ascend Laboratories for comment. via: https://www.foxbusiness.com/lifestyle/over-140000-bottles-popular-cholesterol-drug-recalled

Social Security COLA for 2026 revealed following shutdown-related delay

Posted by radio1n1 — Fri, 24 Oct 2025 08:02 GMT

The annual inflation adjustment for Social Security benefits was released on Friday and beneficiaries are set to see larger benefits in 2026. Social Security's annual cost-of-living adjustment (COLA) will be 2.8% next year, following the announcement by the Social Security Administration. On average, Social Security retirement benefits will increase by about $56 per month starting in January. The annual COLA has averaged about 3.1% over the last decade, and was 2.5% in 2025. Inflation trending higher this year caused the COLA to be larger. "Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today's economic realities and continue to provide a foundation of security," said SSA Commissioner Frank Bisignano. "The cost-of-living adjustment is a vital part of how Social Security delivers on its mission." The COLA was initially expected to be released on Oct. 15. However, the Bureau of Labor Statistics was impacted by the government shutdown, which delayed the release of September CPI inflation data that's used to compute Social Security's COLA. The BLS recalled some of its furloughed workers to complete the September CPI data, which was also released on Friday, to allow the COLA announcement to proceed. This is a developing story. Please check back for updates. via: https://www.foxbusiness.com/economy/social-security-cola-2026-revealed-following-shutdown-related-delay

Inflation remained well above the Fed's target in September ahead of rate cut decision

Posted by radio1n1 — Fri, 24 Oct 2025 07:34 GMT

Inflation stayed elevated in September and remained well above the Federal Reserve's target rate as policymakers prepare to meet next week to decide on their forthcoming interest rate move. The Bureau of Labor Statistics on Friday said that the consumer price index (CPI) - a broad measure of how much everyday goods like gasoline, groceries and rent cost - rose 0.3% in September compared with the prior month, while it increased to 3% on a year-over-year basis from 2.9% in August. It was the highest headline CPI reading since January, when headline CPI was also 3%. The monthly figure was in line with the expectations of economists polled by LSEG, while the year-over-year number was slightly lower than expected. So-called core prices, which exclude volatile measurements of gasoline and food to better assess price growth trends, were up 0.2% from the prior month and 3% from a year ago. Both figures were slightly cooler than economists' expectations. US BUSINESSES AND CONSUMERS SHOULDER THE BULK OF TARIFF COST BURDEN, GOLDMAN SACHS FINDS High inflation has created severe financial pressures in recent years for most U.S. households, which are forced to pay more for everyday necessities like food and rent. Price hikes are particularly difficult for lower-income Americans, because they tend to spend more of their already-stretched paychecks on necessities and have less flexibility to save money. Food prices increased 0.2% in September and are up 3.1% year over year. The food at home index increased 0.3% on a monthly basis and was 2.7% higher than a year ago, while the food away from home index rose 0.1% from a month ago and is up 3.7% over the last year. The index for meats, poultry and fish rose 0.8% in September and is up 6% from a year ago. Beef and veal prices rose 1.2% for the month and are up 14.7% from a year ago. Over the last year, pork prices are up 1.6% and poultry is up 1.4%, while fish and seafood prices are up 2.1% since last September. Egg prices declined 4.7% on a monthly basis and are down 1.3% over the last year. The fruits and vegetables index showed prices were flat in September and are up 1.3% year over year. FED MINUTES SHOW POLICYMAKERS REMAIN CONCERNED ABOUT INFLATION AS THEY WEIGH RATE CUTS Energy prices rose 1.5% in September after rising 0.7% in August, and are 2.8% higher than a year ago. The gasoline index rose 4.1% in September, although it's down 0.5% from last year. Electricity prices declined 0.5% for the month and are up 5.1% over the past year. Transportation service prices rose 0.3% in September and are up 2.5% from last year. Motor vehicle maintenance and repair costs increased 0.2% and are up 7.7% over the last year. Airline fares rose 2.7% for the month and are up 3.2% since last year. Housing prices increased 0.2% for the month and are up 3.6% from a year ago. Tenants' and household insurance costs jumped 1.2% in September and are up 7.5% year over year. The September CPI report was delayed from Oct. 15 due to the ongoing government shutdown, as BLS workers were initially furloughed - though they were later recalled to complete this report so that it could be used to determine the 2026 cost-of-living adjustment (COLA) for Social Security. FED'S MIRAN DOWNPLAYS IMPACT OF TRUMP'S TARIFFS ON GROWTH, INFLATION The inflation data comes as the Federal Reserve is set to hold its next monetary policy meeting next week. Policymakers are expected to cut interest rates despite inflation remaining well above the Fed's 2% target due to concerns about the labor market weakening. Inflation had been trending toward 2% earlier in the year, though the impact of tariff costs being passed on to consumers has pushed it away from the target. "The impact from tariffs has been felt mostly in lower-end consumption imports. The tariff effects will probably increase the longer they remain in place. Companies did the easy tasks first but remain resistant to passing the tariffs through to inflation-phobic consumers, which will probably fade," said Eric Teal, chief investment officer for Comerica Wealth Management. "Ultimately, we believe the pass-through rate approaches nearly 75% which is higher than the 50% we have observed thus far." "The cooler-than-expected CPI confirms what we've seen overall from private data during the government shutdown - little indication that inflation is surging or that the labor market is falling off a cliff," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. "For a Fed focused on prudent 'risk management,' that should translate into another rate cut next week, and likely more to follow." GET FOX BUSINESS ON THE GO BY CLICKING HERE Markets still anticipate the Fed will cut its benchmark interest rate by 25 basis points at next week's meeting, with the CME FedWatch tool showing a 96.7% probability of a cut that size. via: https://www.foxbusiness.com/economy/cpi-inflation-september-2025

Here's a look at the most notorious insider trading scandals that rocked Wall Street and beyond

Posted by radio1n1 — Fri, 24 Oct 2025 06:01 GMT

The recent arrests of NBA figures Chauncey Billups and Terry Rozier in connection with federal gambling probes have garnered national attention, but financial misconduct is hardly new to the business world. For years, scandals surrounding insider trading, which involves illegally buying or selling stock based on non-public information, have ensnared powerful figures from corporate executives to media personality Martha Stewart. Here's a look at some of the most infamous controversies linked to insider trading. WHAT IS INSIDER TRADING? Former Goldman Sachs Group Inc. Director Rajat Gupta was sentenced to two years in prison for illegally leaking confidential boardroom information to Raj Rajaratnam, former hedge fund manager and founder of the Galleon Group. The tips helped Rajaratnam make millions of dollars between 2003 and 2009, according to the U.S. Department of Justice (DOJ). Rajaratnam was sentenced in 2011 to 11 years in prison - at the time marking the longest insider trading sentence in U.S. history - and ordered to forfeit $53.8 million and pay a $10 million fine. Former Enron CEOs Kenneth Lay and Jeffrey Skilling were convicted in 2006 on charges including conspiracy, securities fraud and wire fraud tied to the energy giant's collapse. A federal jury found they deceived investors about Enron's finances while selling company stock. Lay was convicted on all six counts against him. Skilling was found guilty on 19 of 28 counts, including insider trading. "The convictions stemmed from a wide-ranging scheme that Lay, Skilling and other Enron executives engaged in at various times between at least 1999 and 2001, to deceive the investing public, the U.S. Securities and Exchange Commission (SEC) and others about the true performance of Enron's businesses," federal prosecutors said at the time. Skilling was initially sentenced to 24 years in prison but later was resentenced to 14 years. Lay died in July 2006, and a federal judge subsequently voided his conviction. SEC LAUNCHES INSIDER TRADING INQUIRY INTO CRYPTO EXCHANGES In 2003, Martha Stewart was charged by the SEC with insider trading, accusing her of selling 4,000 shares of ImClone Systems in 2001 following a tip from her stockbroker. The tip allegedly followed after ImClone's CEO sold his shares ahead of a pending Food and Drug Administration (FDA) decision on a cancer drug. When the FDA rejected the drug, ImClone's stock fell 16%, but Stewart avoided losses of more than $45,000, according to the SEC. While Stewart was not convicted of insider trading, she was found guilty of making false statements, conspiracy and obstruction of justice. She served five months in prison, according to Investopedia. In 2016, Steve Cohen, the billionaire hedge-fund manager and now owner of the New York Mets, was accused of "failing to supervise" two employees and prevent them from insider trading while under his watch at his former hedge fund, SAC Capital Advisors, according to the SEC. He was barred from managing outside client money until 2018. The firm pleaded guilty in November 2013 to securities fraud and paid $1.8 billion in fines, which at the time marked the largest insider trading penalty in U.S. history. NEW SEC RULES TARGET CORPORATE INSIDER TRADING A high-profile arbitrageur on Wall Street in the 1980s, Ivan Boesky made hundreds of millions by betting on companies he knew were about to be taken over. His strategy involved buying shares prior to merger announcements - a practice that later proved to rely illegally on insider information. He was sentenced in 1987 to three years in prison and fined $100 million, according to Investopedia. GET FOX BUSINESS ON THE GO BY CLICKING HERE He died in 2024 at age 87, Reuters reported. Rajat Gupta, Raj Rajaratnam, Martha Stewart, Steve Cohen and Jeff Skilling did not immediately respond to FOX Business' request for comment. via: https://www.foxbusiness.com/economy/heres-look-most-notorious-insider-trading-scandals-rocked-wall-street

Israeli restaurant chain in DC hit by Gaza protests permanently closes

Posted by radio1n1 — Fri, 24 Oct 2025 05:30 GMT

Shouk, a plant-based kosher street-food chain in Washington, D.C., permanently shut down its final locations this month in part due to protests and boycotts from anti-Israel activists. Once featured by the Food Network and The Washington Post for its "Shouk Burger," the chain had five stores in the region. The closures come after two years of protests and boycotts over the war in Gaza crippled the business. Local activist group DC for Palestine led a boycott campaign that claimed the restaurant's falafel and other menu items "appropriated" Palestinian cuisine and that the owners were "complicit in Israeli apartheid." Co-owner Dennis Friedman, a Jewish American who opened the first Shouk location over a decade ago with Israeli co-owner Ran Nussbacher, rejected those accusations. He said the mission of Shouk was to bring people together. SEPHORA URGED TO DROP HUDA BEAUTY COSMETIC LINE AFTER ITS FOUNDER ACCUSES ISRAEL OF CAUSING ALL WORLD WARS "I don't agree with that because the intention of Shouk was pure, and good," Friedman told Fox News Digital. "When my business partner came to me, it wasn't 'let's make Israeli food.' He wanted to make plant-based food that reminded him of his childhood and home. That was the core of where we started to build the recipes. For the most part, Shouk has been promoted as Mediterranean, plant-based, and Middle Eastern. Very rarely have we claimed anything else. That's why Shouk is written in both Arabic and Hebrew in all the stores - because we are a place to bring everyone together." He called Shouk "a gathering place for people of all races, colors, and creeds to come together to enjoy food," that was good for customers and the planet. He said their Georgetown location was the first to be targeted, citing its proximity to Georgetown University and what he described as a "heavy Muslim population" in the area. ANTI-ISRAEL RADICALS FROM 'GLOBAL INTIFADA' MOVEMENT JOIN 'NO KINGS' PROTESTS While he said business was booming before Oct. 7, the protests quickly started tanking their income. Friedman said they reached out to local business groups and representatives and hired security outside their stores, calling the experience of being harassed by protesters over the past two years "scary and unnerving." "We had everything from little children coming into the store during a busy lunch screaming 'Free Palestine' while their parents videoed for social media," he said. He said the protests were part of a "very coordinated" and successful "effort by the BDS to hurt Shouk." "There were posters of dead baby Palestinian children on the windows or on our seating outside. You know, it ranged from, you know, vandalism to intimidation to maybe things that we don't even know," he added. PROTESTERS ATTEMPT TO JUSTIFY HAMAS ATTACK ON ISRAEL WITH 'COLUMBIA INTIFADA' NEWSPAPER ON OCT. 7 ANNIVERSARY Friedman reflected on the chain's 12-year run, calling it an "amazing experience" he couldn't have imagined in his "wildest dreams." He said Shouk was "near and dear to his heart" and that he and Nussbacher tried their best to take care of their employees during the closures. "Most of our staff have been with us since we opened," he said. "Our turnover was very low because we ran the company ethically, we ran it well, and we ran it fairly. And so our staff became part of our family, and they didn't want to leave." The chain closed its last locations just days before a ceasefire between Israel and Hamas was reached. CLICK HERE FOR MORE COVERAGE OF MEDIA AND CULTURE DC for Palestine celebrated the closures as a "BDS win" in an Instagram post, writing: "Shouk WAS one of the main targets of our "APARTHEID? I DON'T BUY IT" consumer boycott initiative! Much of what they served was Palestinian food that they culturally appropriated as "Israeli street food". Additionally, they imported Israeli ingredients for their dishes. TODAY WE ARE HAPPY TO ANNOUNCE THAT, AS OF OCTOBER 1, 2025, SHOUK HAS CLOSED ITS DOOR, PERMANENTLY!" The group urged supporters to continue boycotting U.S. and local businesses that sell Israeli products. via: https://www.foxbusiness.com/media/israeli-restaurant-chain-dc-hit-gaza-protests-permanently-closes

Florida's aging waterfront condos become gold mines as owners cash in on developer buyouts

Posted by radio1n1 — Fri, 24 Oct 2025 05:01 GMT

Along South Florida's sunny shorelines, aging waterfront buildings are turning into redevelopment jackpots as condominium owners increasingly choose control - and cash - over uncertainty. "The residents, the owners, understand how hard it is to keep up the maintenance of the buildings, and they understand that it's getting harder and harder every year with the increase of everything," North Bay Village's Harbor Condominium Homeowners Association treasurer Juan Llorente told Fox News Digital. "It's a great opportunity to live on your own terms, basically. That's what we're trying to do here - we're trying to anticipate the inevitable by putting ourselves on the market." Earlier this month, after interviewing nearly a dozen real estate firms, the 29-unit bayside condominium announced the exclusive bulk-sale listing of the building with Blanca Commercial Real Estate and MSP Group. The buyout gives a potential buyer or developer the opportunity to reimagine one of Miami's most sought-after waterfront neighborhoods, which has seen more than $2 billion in new development in recent years. MIAMI DEVELOPER SAYS CITY IS 'READY' FOR TRUMP PRESIDENTIAL LIBRARY LEGACY PROJECT "The Harbor Condominium is unique in its positioning. Of course, it starts with a waterfront location in an enclave that's really experiencing a renaissance of redevelopment," MSP Group CEO Deme Mekras also told Fox News Digital. "They don't make any more waterfront property, and the Harbor Condominium is sitting on just over a half an acre of land with some zoning that affords a developer to build a pretty significant boutique condo tower with luxury units as the end destination for this site." While developers initially sought out older condominium buyouts after the passage of Florida's Condo 3.0 bill, Harbor Condominium is now part of a growing trend of condo boards and their owners approaching brokers for buyouts. Passed by Gov. Ron DeSantis in early 2024, less than three years after the Champlain Towers South collapse in Surfside, the bill introduced sweeping reforms, from how buildings are maintained to how condominium associations are governed. The state's oldest structures and their residents are likely to face the most costly upcoming assessments. "It's critical to mention really what those changes in what the associations are responsible for," Blanca Executive Vice President Cary Cohen told Fox News Digital. "Post the tragedy of Surfside and now with the new regulations, associations have to fully fund reserves. In addition to fully funding their reserves, they have to satisfy the structural integrity reserve study." "The reality is that not every unit owner is selling strictly for financial reasons," he continued. "A lot of this is a transaction born in case of need. ... There [are] fixed-income residents who own the unit and are facing condo fees that have tripled." Llorente emphasized that the decision to list came directly from the owners themselves, driven by "a little bit of everything," from finances and regulation to simple realism. "Most importantly, in the past few years... the constant increase of insurance and the cost of living, the maintenance in general since our property's waterfront, all those just make it extremely harder for our community to keep maintenance and keep up with all the city regulations," he said. "What the board decided to do is create a sales committee with some of the owners that have been there for decades... We interviewed [firms] one by one, we [sat] down with them and ask[ed] them to explain the whole process, the whole situation. And after this screen[ing], we decided to choose Blanca and MSP Group as the one that we want to represent us on the market," Llorente expanded. "They're very straightforward. They explained in detail the step-by-step of the whole process. And we are extremely happy so far with the job that they've done." FLORIDA MAYOR PREDICTS 'SUBSTANTIAL EXODUS' OF N.Y.C. BUSINESSES IF MAMDANI WINS Cohen said the "key" is transparency. "Transparency between us and the unit owners," Cohen said. "We are seller representatives. We don't work for developers. We work for the individual owners in positioning their property in the best way in the marketplace, and that's our motto." "While we are seller representatives, and we do represent the best interest of the unit owners, that's coming from the vantage point of having a pretty deep knowledge of how development works," Mekras added. "We can understand what makes an opportunity for a developer, where the risks are, how to mitigate them ... and communicate that effectively to the community." Collective unit sales can yield far more for owners than individual listings, with Cohen arguing that the return on investment is three to five times higher. MSP Group also said they have closed more than 15 condo termination deals like the one with Harbor Condominium. "When the condo unit owners were able to see our track record, it also made them feel comfortable that we're going to be able to get the transaction closed," MSP's senior investment associate Sam Mekras said. However, the real estate experts cautioned that not all older residential buildings qualify for gold-mine status. "Not every condo owner in an aging property is so fortunate because some of the recipe for success is much like the Harbor site. We have what we would call a low-density site. It's only a two-story project with 29 units on just over a half an acre ... that affords a robust redevelopment," MSP's CEO noted. "A westerly, landlocked community that doesn't have the redeveloping potential, then those condo owners aren't necessarily going to be so fortunate." Looking at life after the eventual sale, excitement meets some anxiety as Llorente points out the residents' reactions are a mix of optimism, curiosity and concern about displacement. Some owners are native Floridians, while others hail from South America, Italy, Australia and elsewhere - most of whom plan to remain in the Sunshine State. "Some of the older owners that have been there for decades, they have a little anxiety," Llorente said. "Mainly, we just keep the communication fluent, and we just contact them when we have any news or updates. ... And some, they're extremely excited about cash[ing] out. ... But I think the most important thing here is to understand the reason and why we are going to the market." GET FOX BUSINESS ON THE GO BY CLICKING HERE "One of the things we did a really good job at was sitting down individually with every unit owner and explaining, when we get this done, the money they're going to get, how they're going to have an alternative place to live, and [that] they're going to be able to be in a better financial position than in a building where they're having trouble affording the dues," Sam Mekras said. "Every deal has got to work for both sides." "We're actually seeing a second wave of migration into South Florida. The political climate of the Northeast is driving a new wave of companies to locate here in South Florida. With those relocations creates new demand for places where their executives and their employees live," Cohen said. "Everyone wants to live by the water. That's the benefit of South Florida, that's the benefit of North Bay Village ... and that's what Harbor is offering to a developer." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/floridas-aging-waterfront-condos-become-gold-mines-owners-cash-in-developer-buyouts

Trump ends Canada trade talks over 'FAKE' Ronald Reagan tariff ad: 'Egregious'

Posted by radio1n1 — Thu, 23 Oct 2025 22:13 GMT

President Donald Trump announced Thursday that trade negotiations with Canada have been terminated over a misleading advertisement featuring former President Ronald Reagan speaking out against tariffs. "The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs," Trump wrote on Truth Social. "The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts," he continued. US BUSINESSES AND CONSUMERS SHOULDER THE BULK OF TARIFF COST BURDEN, GOLDMAN SACHS FINDS Trump purported that tariffs are important to the U.S. economy and national security. "Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED," Trump wrote. TRUMP ROASTED FOR COFFEE TARIFFS AS BIPARTISAN LAWMAKERS SPILL THE BEANS ON PRICE JITTERS The Ronald Reagan Presidential Foundation and Institute said in a statement that the Ontario government created an ad campaign using "selective audio" of Reagan on April 25, 1987, delivering his "Radio Address to the Nation on Free and Fair Trade." "The ad misrepresents the Presidential Radio Address, and the Government of Ontario did not seek nor receive permission to use and edit the remarks," the organization said. GET FOX BUSINESS ON THE GO BY CLICKING HERE The organization said it is reviewing its legal options over the ad. via: https://www.foxbusiness.com/politics/trump-ends-canada-trade-talks-over-fake-ronald-reagan-tariff-ad-egregious

Meta cuts 600 jobs amid AI expansion push - as automation replaces human staff

Posted by radio1n1 — Thu, 23 Oct 2025 21:59 GMT

Meta is cutting around 600 jobs within its artificial intelligence unit, a move it says aims to boost efficiency. The layoffs to Meta's Superintelligence Labs division, which has nearly 3,000 employees, come as the company's efforts to lean into AI had become overly bureaucratic, and the social media giant hopes the cuts will produce a more efficient workflow, an internal memo showed, according to Axios. "By reducing the size of our team, fewer conversations will be required to make a decision, and each person will be more load-bearing and have more scope and impact," Meta chief AI officer Alexandr Wang wrote in the memo. META TO ALLOW TEENS' PARENTS TO DISABLE PRIVATE CHATS WITH AI AFTER BACKLASH OVER FLIRTY CHATBOTS The cuts will affect the company's FAIR AI research, product-related AI and AI infrastructure divisions, according to Axios. Employees in the newly formed TBD Lab unit, tasked with developing the company's next-generation AI models, will maintain their positions. Meta said it is encouraging impacted employees to apply for other jobs within the company, and expects most will find other internal roles, Axios reported. "This is a talented group of individuals, and we need their skills in other parts of the company," Wang said. META PLACES NEW SAFEGUARDS ON TEEN INSTAGRAM ACCOUNTS, INTRODUCES PG-13-GUIDED CONTENT FILTERS Meta is continuing with its AI efforts and is still actively recruiting for its TBD Lab unit, according to Business Insider. The cuts also come as Meta informed staff in its risk division this week that several of their positions will be eliminated due to the company's enhanced internal technology that is replacing their jobs, Business Insider reported. Meta's chief compliance and privacy officer of product, Michel Protti, notified employees in the risk org on Wednesday that it has been moving away from manual reviews to more automated processes, an internal memo showed, according to Business Insider. GET FOX BUSINESS ON THE GO BY CLICKING HERE "As a result, we don't need as many roles in some areas as we once did," he wrote. The number of positions affected by the layoffs to the risk unit was not disclosed. via: https://www.foxbusiness.com/technology/meta-cuts-600-jobs-amid-ai-expansion-push-automation-replaces-human-staff

Palantir CEO says company is in an AI 'arms race' after deal with Lumen

Posted by radio1n1 — Thu, 23 Oct 2025 21:10 GMT

Palantir CEO Alex Karp said his company is in an artificial intelligence arms race with its competitors, after reaching a deal with Lumen Technologies in which Palantir will deploy AI throughout Lumen's digital communications network and enhance data use and effectiveness. Karp and Lumen CEO Kate Johnson spoke on Wednesday to Fox Business' Liz Claman about the agreement, as well as AI and privacy warnings. "We're in an arms race here," Karp said. "This is, that's all academic, super academic. It's like we're gonna either have AI and determine the rules, or our adversaries will have it, and they'll determine the rules. And it, and so this is why these infrastructure things are crazy important, because in order to make it work, what do you need? You need infrastructure that can actually run the models, get the data there in a secure and cheap enough way." "You need to make the models actually useful," he added. "You need ontology to do that, meaning you have to deploy them where they're useful and where they're not and orchestrate them. And if you start putting impediments on this, de facto what's gonna happen is our adversaries will build it, and we will be buying everything from them, including our ideas of how to run our country." Speaking about the agreement, Johnson called it an "incredible partnership." GET FOX BUSINESS ON THE GO BY CLICKING HERE "We're teaming up to deliver the holy grail for businesses," she said. "It's all about real-time intelligence, and you need two things to do that. You need to be able to move huge amounts of data from anywhere to anywhere, quickly, securely, effortlessly. And that's what Lumen does. That's our business. And you need, once you have that data, you need to be able to make sense of it. And that's the AI platform that Palantir has." via: https://www.foxbusiness.com/technology/palantir-ceo-says-company-ai-arms-race-after-deal-lumen

Alaska Airlines grounds all flights across US airports due to widespread technology issue

Posted by radio1n1 — Thu, 23 Oct 2025 20:41 GMT

Alaska Airlines has grounded all its flights across U.S. airports on Thursday evening because of an unspecified technology-related issue, the company said. The ground stop also applied to Alaska Airlines' subsidiary Horizon Air, a Federal Aviation Administration advisory showed, Reuters reported. In a post shared on X, the airline confirmed it was experiencing an "IT outage affecting operations." "A temporary ground stop is in place. We apologize for the inconvenience. If you're scheduled to fly tonight, please check your flight status before heading to the airport," the airline said. GROUND STOP ISSUED AT ATLANTA AIRPORT FOLLOWING FIRE INCIDENT, FAA CONFIRMS This disruption comes amid a growing number of technology-related issues impacting airline operations worldwide. The cause and expected duration of the outage have not yet been disclosed. This is a developing story. Please check back for updates. via: https://www.foxbusiness.com/fox-news-air-space/alaska-airlines-grounds-all-flights-across-us-airports-widespread-technology-issue

NBA gambling probe reveals 'Wild West' of private card games; only matter of time before someone fli

Posted by radio1n1 — Thu, 23 Oct 2025 20:12 GMT

The NBA gambling scandal has laid bare the "Wild West" of private gambling, and it's only a matter of time before one of those involved turns on the others, a leading casino surveillance expert says. George Joseph, who has conducted undercover investigations into poker cheating for state gaming commissions, told FOX Business the scope of the probe and methods used by the perpetrators came as no surprise. "I am not surprised. The gambling technology used has been around for a few years, but it's much more robust now," he said. ESPN STAR STEPHEN A. SMITH MAKES TRUMP WARNING AFTER FBI'S ILLEGAL GAMBLING PROBE NETS NBA FIGURES "In casinos, surveillance coverage is extensive, but in private games, there's no such protection. It's the Wild West, and you're relying entirely on whoever runs the game," Joseph added. Joseph's spoke after FBI Director Kash Patel appeared on "The Ingraham Angle" Thursday night and highlighted "a coordinated scheme between the La Cosa Nostra and the individuals who were arrested today." Joseph's warning also came after federal prosecutors announced dozens of arrests in an investigation linking organized crime and professional basketball. U.S. Attorney Joseph Nocella Jr. outlined the charges Thursday at a news conference and described a network of illegal betting, mafia-backed poker games and high-tech cheating. Portland Trail Blazers coach Chauncey Billups, Miami Heat guard Terry Rozier and former Cleveland Cavaliers player and assistant coach Damon Jones have been arrested. Four major New York crime families - the Bonanno, Gambino, Lucchese and Genovese organizations - were also allegedly involved. NBA PLAYER TERRY ROZIER'S LAWYER SLAMS FBI AFTER ARREST Joseph, whose core business is training casinos and law enforcement on the methods of card and dice cheaters, described how the types of gambling cheating methods used have actually evolved over time. "There are camera feeds and infrared reading devices that can read the card and, for this particular scam, they mark the thin edge of the card," he said. "But, initially, the device was built into a cellphone, and you'd have to aim it at the cards after they came out of the machine or after a hand shuffle. "Now they've miniaturized it all so it can be hidden in cuff links, car key fobs or even inside the bankroll tray on the table where the dealer keeps the chips. HEAT'S TERRY ROZIER ARRESTED AS PART OF FBI SPORTS BETTING PROBE "When the dealer sets the cards down near that tray, it reads the barcode and transmits the information, and the data can be sent via radio to an earpiece. So, someone can discreetly tell the player how to bet or they can use simple hand signals to communicate what cards are in play." Joseph also emphasized the risks inherent in unregulated gambling environments like the one outlined at the news conference Thursday. "In a private poker game, you simply have to trust the person who invited you," Joseph said before explaining the next steps investigators would be taking. "They now have to determine who introduced those marked cards into the game, which means the organizer of the private game, or whoever brought in those cards, will be the main focus for law enforcement and prosecutors. "They'll need to establish an investigative trail and find out who supplied the cards, and, as always, law enforcement will likely rely on an informant, a plea deal, or some cooperation to get to the bottom of it. "Eventually, someone will cooperate with the authorities and testify against the others, as that's usually how these cases are prosecuted," he said. NBA FREE AGENT MALIK BEASLEY NO LONGER TARGET IN FEDERAL GAMBLING INVESTIGATION: REPORT In this case, victims were said to have lost an estimated $7 million since 2019, including one individual who lost $1.8 million in a single night of gambling. Billups, prosecutors allege, was present at a Las Vegas poker game in April 2019, where at least $50,000 was stolen through the use of a rigged shuffling machine. Joseph said that while the poker scheme may have preyed on a smaller circle of victims, the basketball scandal had a wider target. CLICK HERE TO GET THE FOX NEWS APP "The poker scheme targeted a small group of individuals, whereas the basketball scandal targeted innocent bettors who were not in on the fix," he said. "The basketball case has a far wider impact as it affects the integrity of the sport worldwide." FOX Business has reached out to the NBA for comment. via: https://www.foxbusiness.com/sports/nba-gambling-probe-reveals-wild-west-private-card-games-only-matter-time-someone-flips-expert

Major airports issue ground stops due to air traffic controller staffing shortages amid government s

Posted by radio1n1 — Thu, 23 Oct 2025 18:01 GMT

Three major U.S. airports issued ground stops or delays Thursday, all attributed to staffing shortages amid the federal government shutdown. Ronald Reagan Washington National Airport (DCA) near Washington, D.C., was the first to issue a ground delay program Thursday, noting flights were pushed back an average of 30 minutes due to staffing issues. Newark Liberty International Airport (EWR) in New Jersey and LaGuardia Airport (LGA) in New York later issued ground stops due to staffing, halting all departures from the two major airports. GOVERNMENT SHUTDOWN DRIVES STAFFING FLIGHT DELAYS FROM 5% TO 53% AS AIR TRAFFIC CONTROLLERS CALL OUT According to the Federal Aviation Administration (FAA), the probability of the ground stops being extended is "medium," or 30% to 60%. Earlier this month, the FAA confirmed it was facing nationwide air traffic disruptions as staffing shortages hit several major control centers, including Chicago, Nashville, Houston and Las Vegas. Officials said the understaffing coincided with the ongoing government shutdown, which has entered its 23rd day. FAA BRACES FOR NATIONWIDE FLIGHT DISRUPTIONS AS AIR TRAFFIC CONTROLLER SHORTAGES HIT MAJOR AIRPORTS Transportation Secretary Sean Duffy previously told Fox News' Will Cain that normally, 5% of delays are attributed to staffing shortages. Due to the shutdown, Duffy said 53% of delays have been caused by understaffing. AMERICAN AIRLINES JET CANCELS TAKEOFF AFTER LAX RUNWAY INCURSION "My message to the air traffic controllers who work for DOT is show up for work," Duffy said. "You have a job to do, and, by the way, those who have shown up, I'm grateful for them and their service. But the bottom line is, these controllers are stressed out, and they're rebelling on this shutdown because they may not get paid." CLICK HERE TO READ MORE ON FOX BUSINESS He added "safety comes first," noting the Department of Transportation will slow down or stop traffic if it is not safe for air travel. via: https://www.foxbusiness.com/fox-news-air-space/major-airports-issue-ground-stops-air-traffic-controller-staffing-shortages-amid-government-shutdown

Treasury touts progress reducing federal spending under Trump administration

Posted by radio1n1 — Thu, 23 Oct 2025 16:24 GMT

The Treasury Department is touting progress in lowering federal spending since President Donald Trump returned to the White House in January. Treasury officials are touting data showing a decline in year-over-year federal spending growth relative to the final full year of the Biden administration. The Trump administration's data shows federal spending was up 7.1% year over year in the second quarter of 2024, before accelerating to 28.5% in the third quarter and 10.9% in the fourth quarter. In the first quarter of 2025, when the transfer of power between the Biden and Trump administrations occurred, spending was up 8.5% year over year. That slowing trend continued in the last two quarters, with federal outlays up just 0.2% in the second quarter of 2025 and outlays falling 2.5% in the third quarter of the year, according to the Treasury. "While the full year's budget deficit was a positive surprise, coming in at $1.77 trillion for fiscal year 2025, or $41 billion below the previous year, the figure does not capture the dramatic intra-year improvement, particularly for federal outlays," said Joe Lavorgna, counselor to Treasury Secretary Scott Bessent. NATIONAL DEBT SURPASSES $38 TRILLION MILESTONE FOR FIRST TIME IN US HISTORY AS SPENDING SURGES Lavorgna added that the "underlying trends point to more significant improvement in U.S. finances immediately ahead." He added that the "last two quarters of Biden's term accounted for an astounding 74% of last year's budget deficit," which "effectively saddled President Trump with a large deficit for the fiscal year" given that the fiscal year was half over when he took office. CBO REPORTS $1.8 TRILLION FEDERAL DEFICIT AS DEBT COSTS HIT RECORD $1 TRILLION Bessent appeared on FOX Business Network's "Kudlow" Wednesday and discussed the reduction in the budget deficit and federal spending since Trump took office. "Contrary to what everyone said, for the fiscal year last year, we had a lower deficit than we did in the previous fiscal year," Bessent said. "Warren Buffett says, "When people ask you how do you lose weight, you eat less, exercise more.' How do you control the budget deficit? You spend less or control spending and grow more," Bessent added. US DEBT SET TO SURGE TO 120% OF GDP AS FEDERAL DEFICITS SPIRAL OVER NEXT DECADE UNDER NEW PROJECTIONS "If we can keep the spending flat to down and grow at least a nominal 5%, maybe higher than our deficit to GDP," Bessent said. "It ended the fiscal year with a five in front of it, down from the 6.4%, 6.5% which was the worst when we weren't in a recession, weren't at war, and I think we could make substantial progress again. "I would hope we could be in the low fives or something with a four in it for next year." GET FOX BUSINESS ON THE GO BY CLICKING HERE Bessent has previously said he would like to see the deficit to GDP ratio at around 3%, which would be a more sustainable level than what has transpired in recent years. via: https://www.foxbusiness.com/politics/treasury-touts-progress-reducing-federal-spending-under-trump-administration

Musk pleads with Tesla investors to approve his massive $1T pay package deal

Posted by radio1n1 — Thu, 23 Oct 2025 16:22 GMT

Tesla CEO Elon Musk jumped in at the end of the automaker's earnings call to express to investors why they should approve his $1 trillion pay package, arguing it isn't necessarily about the money but about having enough power at the helm. "The point is, I just like ... there needs to be enough voting control to give a strong influence, but not so much that I can't be fired if I go insane," he said moments after Tesla CFO Vaibhav Taneja asked shareholders to support Musk's leadership through the compensation proposals and the re-election of three directors, which would preserve the current leadership structure. How much power someone has to make decisions at a company is determined by the shares they own. Voting control means having enough shares (or voting power) to influence or decide the company's key decisions. TESLA GRANTS MUSK MASSIVE PAY DEAL TO KEEP CEO ON BOARD AMID LEGAL BATTLE Since Tesla is a public company, Musk said there is no way to increase his voting control because rules prevent creating special "super-voting" shares or changing ownership structures after an IPO. "But for example, Google, Meta, many other companies have this, but they had it before they went public. And so it sort of gets, I guess, grandfathered in. Tesla does not have that. So it's just - like I said, I just don't feel comfortable building a robot army her e... and then being ousted because of some ... recommendations from ISS (Institutional Shareholder Services) and Glass Lewis, who have no freaking clue." MUSK SAYS HE WILL REMAIN TESLA CEO IN COMING YEARS ISS and Glass Lewis are proxy advisory firms who advise investors on how to vote in shareholder meetings. "The core problem here is that so many of the index funds, the passive funds, vote along the lines of whatever Glass Lewis and ISS recommend. Now, they have made many terrible recommendations in the past that, if those recommendations had been followed, would have been extremely destructive to the future of the company," Musk continued. TESLAS CONTINUE TO BE VANDALIZED DESPITE CEO ELON MUSK'S FALLOUT WITH WHITE HOUSE Tesla's board of directors initially proposed the new compensation plan for Musk in September. It could be worth a potential $1 trillion, marking what would be the largest pay package for an executive in history if certain ambitious targets are reached. The board's proposal would give Musk, already the richest person in the world, up to 12% of Tesla's stock, worth about $1 trillion, if the automaker notches a market capitalization of $8.5 trillion and other operational milestones over a 10-year period. The company's current market value is about $1.38 trillion. GET FOX BUSINESS ON THE GO BY CLICKING HERE Musk owns about 13% of Tesla's outstanding shares. The proposed award comes in the form of restricted stock grants, which means he can't immediately sell them. At the time, Tesla Chair Robyn Denholm said in a letter to investors that "retaining and incentivizing Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history." via: https://www.foxbusiness.com/lifestyle/musk-pleads-tesla-investors-approve-his-massive-1t-pay-package-deal

Microsoft CEO Satya Nadella's annual pay climbs to $96.5M

Posted by radio1n1 — Thu, 23 Oct 2025 16:11 GMT

Microsoft CEO Satya Nadella saw his total compensation surge to nearly $96.5 million for fiscal year 2025, nearly double the amount he was making two years ago. The chief executive's total pay was about $79.1 million last year and $48.5 million in 2023. While his base salary has remained flat at $2.5 million, his overall compensation primarily grew because of larger stock awards, which totaled $84.2 million this year, according to a Securities and Exchange Commission (SEC) filing. "The Committee shares the views we hear from many shareholders, that Mr. Nadella should be compensated in ways that encourage his continued leadership and drive sustained business growth and shareholder value," Microsoft said in the filing. OPENAI BECOMES WORLD'S MOST VALUABLE PRIVATE COMPANY WITH $500B VALUATION: REPORT The company added, "In accordance with this view and in contrast to standard market practice, Mr. Nadella's equity compensation is delivered exclusively through performance stock awards tied to long-term value creation and does not include any time-based equity awards." More than 95% of Nadella's total target compensation was performance-based, according to Microsoft. "For fiscal year 2025, we set Mr. Nadella's target performance stock award at $50 million, a level unchanged since fiscal year 2022," Microsoft said in the filing. "We believe this level reflects Mr. Nadella's exceptional leadership, the scope of his responsibilities, and the scale, complexity, and performance of Microsoft." AOL TO DISCONTINUE DIAL-UP INTERNET SERVICE OPENAI'S NONPROFIT PARENT COMPANY SECURES $100B EQUITY STAKE WHILE RETAINING CONTROL OF AI GIANT Other Microsoft executives similarly saw dramatic pay increases, as noted in the filing. Amy Hood, executive vice president and CFO, earned nearly $29.5 million in fiscal year 2025, up from about $25.8 million last year and around $19.9 million in 2023. Judson Althoff, executive vice president and CEO of the company's commercial business, made $28.2 million this year, up from $23 million in 2024 and $16.2 million in 2023. Bradford Smith, vice chair and president, earned around $28.2 million in fiscal year 2025, compared with $23.4 million last year and $18.1 million in 2023. Microsoft's stock has risen by nearly 25% since the beginning of the year. Earlier this year, the Washington-based company announced several rounds of job cuts, laying off thousands of its employees. "We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace," a Microsoft spokesperson told FOX Business in July. GET FOX BUSINESS ON THE GO BY CLICKING HERE Microsoft did not immediately respond to FOX Business' request for comment. FOX Business' Aislinn Murphy contributed to this report. via: https://www.foxbusiness.com/technology/microsoft-ceo-satya-nadellas-annual-pay-climbs-96-5m

Trump administration denies report it's seeking stakes in quantum computing firms amid China tech ra

Posted by radio1n1 — Thu, 23 Oct 2025 16:05 GMT

The Trump administration is not in talks to take equity stakes in U.S. quantum computing firms, the Commerce Department confirmed to FOX Business Thursday, pushing back on a Wall Street Journal report that suggested the government was exploring investments in companies, including IonQ, Rigetti Computing and D-Wave Quantum. "The Commerce Department is not currently negotiating equity stakes with quantum computing companies," a Commerce spokesperson told FOX Business. The statement came after the Journal cited unnamed sources claiming the administration had considered taking stakes in select quantum startups as part of a broader effort to strengthen America's edge against China in advanced technology. COMMERCE SECRETARY LUTNICK CELEBRATES TRUMP'S 'MONSTER' EU TRADE DEAL AS 'HUGE' WIN FOR AMERICA According to CNBC, the Trump administration previously took a 10% stake in Intel and a 15% stake in MP Materials, a rare-earth miner critical to national security. Quantum computing is viewed as one of the most consequential emerging technologies, with far-reaching implications for defense and artificial intelligence (AI). Analysts expect viable commercial quantum machines within five years capable of breakthroughs ranging from code-breaking to drug discovery. The field of quantum computing is largely experimental. Global revenue totaled under $750 million in 2024, according to McKinsey, with most U.S. federal investment directed toward research grants and public-private partnerships rather than equity stakes. HOWARD LUTNICK RIPS ATLANTA FED GDPNOW CONTRACTION PREDICTION As CNBC reported, Commerce Secretary Howard Lutnick has argued that the government should benefit when taxpayer money fuels innovation. However, the department's latest denial suggests Washington is still treading carefully when it comes to direct ownership in frontier tech, even as it ramps up scrutiny of China's quantum sector and increases support for American research. GET FOX BUSINESS ON THE GO The White House confirmed to FOX Business that it is not in discussions with the companies mentioned in the Journal's report. via: https://www.foxbusiness.com/politics/trump-admin-denies-report-seeking-stakes-quantum-computing-firms-china-tech-race

Mortgage rates drop to lowest level in over a year as buyers regain leverage

Posted by radio1n1 — Thu, 23 Oct 2025 15:47 GMT

Mortgage rates dropped this week to their lowest level in more than a year, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage decreased to 6.19% from last week's reading of 6.27%. The average rate on a 30-year loan was 6.54% a year ago. "At the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower," said Sam Khater, Freddie Mac's chief economist. "This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week." WHY ARE MORTGAGE RATES INCREASING DESPITE A RATE CUT FROM THE FED? The average rate on the 15-year fixed mortgage fell to 5.44% from last week's reading of 5.52%. One year ago, the rate on the 15-year fixed note averaged 5.71%. NEARLY 1 IN 5 AMERICAN HOMES SLASH PRICES AS BUYERS GAIN UPPER HAND IN SHIFTING MARKET NYC MAYORAL CANDIDATE SPARKS 'MAMDANI EFFECT' AS MANHATTAN RESIDENTS REPORTEDLY FLEE TO SUBURBS This week's shift confirms market expectations that mortgage rates would ease ahead of the Fed's expected rate cut next week. The drop also comes amid falling Treasury yields and ongoing uncertainty from the government shutdown, according to Realtor.com Senior Economist Jake Krimmel. "But further declines may be harder to come by," Krimmel said. "The upcoming cut is already priced in, while uncertainty over a potential December move, stubborn budget deficits and lingering inflation expectations continue to limit how far mortgage rates could fall." For the housing market, the shift gives buyers a window of opportunity. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Rates have eased steadily throughout the 'best time to buy' season, offering buyers and refinancers welcome savings and some breathing room as inventory climbs and buyers gain leverage," Krimmel said. "While affordability remains a challenge, borrowers still have meaningful control over the rate they lock in through credit, loan type and down payment decisions." via: https://www.foxbusiness.com/economy/mortgage-rates-drop-lowest-level-over-year-buyers-regain-leverage

Robby Starbuck on why he sued Google: 'Outrageously false' information through artificial intelligen

Posted by radio1n1 — Thu, 23 Oct 2025 13:58 GMT

EXCLUSIVE- Conservative activist Robby Starbuck spoke out about the "crazy" situation that formed him to file a lawsuit against Google on Wednesday seeking at least $15 million, alleging the company's artificial intelligence programs defamed him by falsely portraying him as a "monster" to millions of users. "My lawyer sent multiple cease-and-desist letters... the breaking point for me was when they accused me of child rape. That was where I was like, 'We have to just go forward with the lawsuit, they're clearly not taking this seriously. It's escalating into something much more serious and crazy,'" Starbuck told Fox News Digital. Starbuck said that the assassination of Turning Point USA founder Charlie Kirk last month made him realize "some crazy person could believe this stuff," prompting him to set the record straight. The lawsuit, filed Wednesday in Delaware Superior Court, accuses Google of negligence and actual malice for providing false AI statements about Starbuck, including fabricated claims he has been accused of sexual assault, rape and harassment. Google has pushed back against Starbuck's assertions. ROBBY STARBUCK, META SETTLE LAWSUIT OVER AI CHATBOT DEFAMATION CLAIM "For nearly two years, one of the largest companies in the world - Google - has spread radioactive lies about Robby Starbuck through its AI products," the lawsuit states. "When users submit queries to Google's AI platforms about Mr. Starbuck, they receive a 'biography' that is outrageously false," the lawsuit continued. "Google's lies about Mr. Starbuck are not simply glitches: when probed, Gemini admitted that it was deliberately engineered to damage the reputation of individuals with whom Google executives disagree politically, including Mr. Starbuck." The conservative firebrand, who says he has been approached by people under the impression the falsehoods were true, detailed his claims Wednesday on "The Robby Starbuck Show." "Since 2023, Google's AI products have produced defamatory answers to people who ask questions about me," he continued. "These answers include elaborate rape allegations that Google created, a lengthy criminal record including stalking, drug charges and resisting arrest. Elaborate accusations that I've been arrested for murder, and much, much more, including an accusation that I flew on Jeffrey Epstein's plane and that I sexually assaulted a minor. None of that has any truth, of course." ROBBY STARBUCK SAYS CAMPAIGN AGAINST CORPORATE WOKENESS IS A CALLING: 'ONE PERSON CAN MAKE A DIFFERENCE' Starbuck said Google's AI products - Bard, Gemini and Gemma - began smearing him in 2023 and have continued to do so despite his repeated notifications to company executives. The lawsuit claims Gemini itself "stated" that its alleged falsehoods about Starbuck were shown to 2,843,917 unique users. It accuses Google of negligence and malice by not correcting the "false speech" and ensuring its AI platforms don't repeat it. Google said it was unable to replicate these results in its consumer products, which is how most people experience Google's AI. A Google Gemini search by Fox News Digital on Thursday asking if Starbuck had been accused of crimes generated this response: "Based on the available information, conservative activist Robby Starbuck has been accused of crimes, but these accusations are primarily reported as false claims generated by Artificial Intelligence (AI) systems." Google told Fox News Digital it needs to review the complaint and take a look at the prompts used to generate outputs. "Most of these claims relate to hallucinations in Bard that we addressed in 2023. Hallucinations are a well-known issue for all LLMs, which we disclose and work hard to minimize. But as everyone knows, if you're creative enough, you can prompt a chatbot to say something misleading," Google spokesperson Jos Casta eda said. ACTIVIST ROBBY STARBUCK POSTS BRUTAL TAKEDOWN OF CRACKER BARREL Google also said the allegations appear to also relate to a Gemma model, an open model for developers to build and customize. Google believes that is "fundamentally different" from the Gemini App, which is one of Google's consumer-facing applications. Starbuck believes his lawsuit could be a landmark case to set a much-needed precedent about what's acceptable on AI platforms. "There's many ways it can make human lives easier, but I'm also a realist and there's serious danger here," Starbuck told Fox News Digital. CLICK HERE TO READ MORE ON FOX BUSINESS "Right now, the AI believes it's OK to harm humans, and defame them, as long as it's in the interest of how it was programmed. That's an incredibly dangerous thing to bake into artificial intelligence, because today it's your reputation, it's defaming a person," he continued. Earlier this year, Starbuck and Meta settled after he sued the company alleging its AI chatbot defamed him. As part of the settlement, Starbuck serves as a consultant to Meta, working with its Product Policy team to bolster their existing efforts to combat political bias in its AI models and reduce the risk of "hallucinations" - made-up information - generated by the chatbot. via: https://www.foxbusiness.com/media/robby-starbuck-why-he-sued-google-outrageously-false-information-through-artificial-intelligence

Apple building American-made AI servers ahead of schedule in new Houston facility, answering Trump c

Posted by radio1n1 — Thu, 23 Oct 2025 13:14 GMT

EXCLUSIVE: Apple is now building and shipping American-made artificial intelligence servers in the United States - a move that has the technology giant answering President Donald Trump's call to on shore manufacturing. Apple previously built the servers that power its Apple Intelligence AI system abroad. WHITE HOUSE SAYS APPLE TO ANNOUNCE $100B US INVESTMENT COMMITMENT FOR MANUFACTURING In February, Apple announced a new advanced manufacturing facility in Houston as part of its commitment to the United States. At the time, the 250,000 square-foot facility was set to open in 2026. But in response to Trump's aggressive push to get these projects online as soon as possible, Apple is ahead of schedule, with servers now being shipped to Apple's data centers across the United States. "We're thrilled to be shipping American-made advanced servers from our Houston facility," Apple Chief Operating Officer Sabih Khan told Fox News Digital. "As part of our $600 billion commitment to the United States, these servers will be installed in our data centers and play a key role in powering Apple Intelligence with Private Cloud Compute." "Our teams have done an incredible job accelerating work to get the new Houston factory up and running ahead of schedule," Khan continued. "We plan to continue expanding the facility to increase production next year." The servers play a key role in powering Apple Intelligence and are the foundation of Private Cloud Compute, which combines powerful AI processing with what Apple describes as "the most advanced security architecture ever deployed at scale for AI cloud computing." APPLE BACKS TRUMP RARE EARTH MINERALS PUSH, INVESTS $500M IN US MINE While the servers are not a consumer product, they indirectly are used by millions of Americans who use Apple products. Apple Intelligence is built into every iPhone, iPad tablet and iMac computer. The American-made servers have been designed to be "incredibly energy efficient," and reduce the energy demands of Apple data centers. Apple data centers already run on 100% renewable energy. Apple told Fox News Digital that it is also partnering with local contractors to build the facility, and is working closely with Houston City College to recruit and hire local talent. "The President likes things getting done ahead of schedule, so it's good to see Apple quickly responding to his call to bring American jobs back to our country," a White House official told Fox News Digital. "President Trump's vision for a new Golden Age is coming to fruition right before our eyes." A source familiar with the conversations told Fox News Digital that the president made a direct appeal to Apple CEO Tim Cook to "go big" on American jobs and reshoring its manufacturing base. APPLE UNVEILS HISTORIC $500B INVESTMENT IN US MANUFACTURING, INNOVATION: 'BULLISH ON THE FUTURE' The source told Fox News Digital that Cook told the president he would "step up," which led to a commitment to invest $600 billion in America over the next four years. Cook, earlier in 2025, announced a new American Manufacturing Program, which was dedicated to bringing even more of Apple's supply chain and advanced manufacturing to the United States. The first move, the source said, was bringing all iPhone glass manufacturing to Kentucky. "Now this," the source said. "And there's a lot more to come." Apple also was one of the largest contributors to the nonprofit that is financing the president's new East Wing ballroom. Also in 2025, Apple announced plans to establish an Apple Manufacturing Academy in Detroit, along with hiring 20,000 new employees with focuses on research and development, silicon engineering, and AI and machine learning. The California tech giant also said it planned to expand its teams and facilities in several states, including Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina and Washington. The White House has touted Apple as supporting more than 450,000 jobs through its network of thousands of suppliers and partners across all 50 states. GET FOX BUSINESS ON THE GO BY CLICKING HERE "It's remarkable that Trump has gotten companies to actually bring this kind of manufacturing back to the States," a former Trump national security official told Fox News Digital. "Apple has answered the call, from this to manufacturing all the iPhone glass in America now." "It signals a real shift for both American jobs and supply chain security," the official continued. "And it's all the more remarkable considering Democrats basically mocked Trump's pledge to bring back our industrial base." via: https://www.foxbusiness.com/politics/apple-building-american-made-ai-servers-ahead-schedule-new-houston-facility-answering-trump-call

Oil prices surge as Trump hits Russian energy giants with sweeping new sanctions

Posted by radio1n1 — Thu, 23 Oct 2025 11:33 GMT

Oil prices jumped on Thursday after the U.S. imposed sanctions on major Russian oil companies over Russia's war in Ukraine. Brent crude futures were up 5%, while West Texas Intermediate crude futures climbed more than 5.2% as of Thursday morning. The Trump administration on Wednesday moved to sanction Russia's largest oil producers, Rosneft and Lukoil, over their role in funding the Russian war in Ukraine, which has become Europe's biggest land war since World War II. "Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine," Treasury Secretary Scott Bessent said in a statement. "We encourage our allies to join us in and adhere to these sanctions." TRUMP ADMINISTRATION HITS RUSSIA'S TOP OIL FIRMS WITH SANCTIONS TO STUNT WAR FUNDING, URGES CEASEFIRE Russian oil and gas revenue, which is down 21% year-over-year, accounts for about one-fourth of Russia's budget and is the government's most important source of cash for the war in Ukraine. However, Russia's revenue mainly comes from taxing output, rather than exports, which could lessen the immediate impact of the sanctions. Ukrainian President Volodymyr Zeleneskyy thanked the U.S. for the new sanctions and said they were "very important" - though he noted that more pressure will be needed to convince Russia to agree to a ceasefire. BESSENT WARNS 'ALL OPTIONS ARE ON THE TABLE' FOR RUSSIA SANCTIONS A spokeswoman for the Russian Foreign Ministry dismissed the impact of the oil sanctions, saying Russia has developed a "strong immunity" to sanctions. Lukoil canceled a planned board meeting related to dividends and canceled it in response to "the new circumstances." GAS PRICES NEAR $3 MARK FOR FIRST TIME IN YEARS The U.S. sanctions mean that refineries in China and India, countries which are major buyers of Russian oil, will need to find alternative suppliers to avoid being excluded from the Western banking system, according to Saxo Bank analyst Ole Hansen. The Trump administration's sanctions give companies until Nov. 21 to cut their transactions with the Russian oil producers. Indian oil industry sources told Reuters that Indian refiners were poised to sharply curtail imports of Russian oil to comply with U.S. sanctions. GET FOX BUSINESS ON THE GO BY CLICKING HERE Major Chinese state oil companies, including PetroChina, Sinopec, CNOOC and Zhenhua Oil, will refrain from buying Russian seaborne oil at least in the short-term due to the sanctions, Reuters reported citing multiple industry sources. Reuters contributed to this report. via: https://www.foxbusiness.com/economy/oil-prices-surge-trump-hits-russian-energy-giants-sweeping-new-sanctions

Trump pardons convicted Binance founder Changpeng Zhao

Posted by radio1n1 — Thu, 23 Oct 2025 10:31 GMT

President Donald Trump pardoned Changpeng "CZ" Zhao, the convicted founder of Binance, the world's largest crypto exchange. Zhao pleaded guilty in 2023 to a single violation of the Bank Secrecy Act, which included failure to properly implement an effective anti-money laundering program. Binance paid $4.3 billion to resolve the Department of Justice's investigation led by former Attorney General Merrick Garland and coordinated by then-Treasury Secretary Janet Yellen through its financial crime units. Zhao left federal prison in September 2024 after serving a four-month sentence. "President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency," White House press secretary Karoline Leavitt said in a statement. The crypto industry has been revived under the new administration, which has promised to make the U.S. the crypto capital of the world. While Biden's DOJ said that Zhao broke the law, some believe the charges were part of the Biden administration's war on crypto and would likely not have merited jail time for any other exchange or financial CEO. MILLIONS IN BITCOIN SEIZED BY DOJ IN 'PIG BUTCHERING' SCAM Reports of the potential pardon had been circulating in recent weeks, with Zhao himself commenting on a report by FOX Business' Charlie Gasparino via X. "Thank you Charles. Great news if true. Minor correction, there were no "fraud" charges. I believe they (the DOJ under the last administration) looked very hard for it, but didn't find any. I pleaded to a single violation of Banking Secrecy Act (BSA)." Zhao remains the largest shareholder in Binance, though it's unclear if he'll return to the company. Cryptocurrencies are on a roll this year. Bitcoin topped a fresh record, hitting the $126,000 level earlier this month but has since drifted down to the $111,000 level. Still, it has advanced over 19% this year. LIVE CRYPTO PRICES: HERE Two crypto exchanges, Bullish and Gemini, founded by the Winklevoss Twins, went public this year, joining Coinbase. TYLER WINKLEVOSS ON AMERICA'S CRYPTO COMEBACK A sign of demand and support for the crypto industry is on the rise. FOX Business' Anders Hagstrom contributed to this report. via: https://www.foxbusiness.com/markets/trump-pardons-convicted-binance-founder-changpeng-zhao

Roblox CEO insists platform is safe for children despite lawsuits over online predators

Posted by radio1n1 — Thu, 23 Oct 2025 09:13 GMT

Roblox CEO and co-founder, Dave Baszucki, says "safety is a top priority," despite a civil lawsuit and a Middle Eastern country's banishment of the online gaming platform. During an interview with FOX Business, Baszucki said he has "four kids who grew up on Roblox off and on," and the business with "thousands of employees" helped children learn science, technology, engineering and math (STEM) skills while helping them stay connected to "friends when they're sick." He compared the game's safety features to that of a smartphone. "We want parents to know Roblox is very, very different," he said. LOUISIANA SUES ONLINE GAMING PLATFORM ROBLOX FOR ALLEGEDLY ENABLING CHILD PREDATORS "We don't allow image sharing. We filter all text. We have policies against sharing really personal information. We monitor in real time for critical harms, and we work very closely with law enforcement so that when we do find bad actors, we together get them off the internet," he continued. Late on Sunday, the Iraqi government banned the U.S. user-generated videogame due to concerns over child safety, joining other countries in cracking down on virtual worlds. The ban was motivated by concerns that the game allowed direct communication between users in ways that exposed children and adolescents to attempts of exploitation or cyber-extortion, and that its content was "incompatible with social values and traditions," Reuters reported. META ADDS TEEN SAFETY FEATURES TO INSTAGRAM, FACEBOOK Florida Attorney General James Uthmeier recently launched a criminal probe into Roblox, He said earlier this week on "Fox & Friends First" that the platform is a "breeding ground" for predators. Weeks ago, Kentucky brought a civil lawsuit against Roblox alleging the massive gaming platform is not safe for children, joining a growing list of entities who have sued over similar allegations. Attorney General Russell Coleman alleged in the lawsuit, filed in Kentucky Circuit Court, that Roblox has insufficient guardrails for children and therefore exposes them to child predators, violence and sexually explicit material. "Defendants do not require users to verify their age upon sign-up," Kentucky attorneys wrote in the complaint. "As such, child predators can - and do - establish accounts to pose as children." Children can sign up to use Roblox and access its millions of games, also known as "experiences," by entering their birthdate, username and password. Kentucky attorneys claim that the signup process needs more barriers to entry and a form of parental consent for minors. "We are establishing what we believe will become the gold standard for safety and communication for all apps," Baszucki told FOX Business. CLICK HERE TO READ MORE ON FOX BUSINESS "Which is knowing the age of every person on our platform. We're gonna do this using AI on the selfie camera to estimate the age everyone. And we're gonna, in addition to filtering text on Roblox, control what and who can chat with who unless they happen to know each other in real life." FOX Business' Ashley Oliver and Reuters contributed to this report. via: https://www.foxbusiness.com/lifestyle/roblox-ceo-insists-platform-safe-children-despite-legal-actions-foreign-ban

Treasury Secretary Bessent expects consumer prices to drop starting next month amid economic recover

Posted by radio1n1 — Thu, 23 Oct 2025 08:29 GMT

U.S. Treasury Secretary Scott Bessent offered some optimism for consumers, saying he expects price relief to arrive sooner rather than later. "Things look great, and they're good now. I think 2026 and 2027 are gonna be great years," Bessent told FOX Business' Larry Kudlow on Wednesday. "This affordability crisis, we've gotten it under control. The first thing to getting it under control was stopping the Biden inflation," he continued. "Now that we've done that... energy prices are down. I think that housing prices are a lagging indicator, especially in rates. So I think we could see that the CPI numbers start coming down next month, the month after." No economic data has been published during the federal government shutdown, but on Friday, the Bureau of Labor Statistics will release its September consumer price index report. Surveyed economists from Dow Jones and The Wall Street Journal are expecting a 3.1% increase year-over-year. BESSENT FIRES BACK AT WARREN'S $20B ARGENTINA DEAL CRITIQUE, INVOKES INFAMOUS FACIST LEADER However, a recent University of Michigan survey held consumer sentiment steady for October, showing little change from last month at 55, while economists polled by LSEG estimated a slight decline to 54.2. September's index read 55.1. The survey's measure of consumer expectations for inflation over the next year fell to a still-high 4.6% from 4.7% in September. Five-year inflation expectations were unchanged at 3.7%. When it comes to economic growth, data from the Commerce Department showed second-quarter gross domestic product (GDP) grew at an annualized rate of 3.8%. Bessent said several tax policy changes have yet to be fully felt in the economy. "Part of what's happening with the tax bill is the president's campaign promises, which he kept on: no tax on tips, no tax on overtime, no tax on Social Security and deductibility of auto loans for American cars. On the first three, working Americans have kept their withholding the same," Bessent explained. GET FOX BUSINESS ON THE GO BY CLICKING HERE "I can tell you that in the first quarter of the year, we are going to see substantial tax refunds for working Americans. On Jan. 1, working Americans will reset their withholding levels and they will have substantial real income increases," he added. "It's as Warren Buffett says, 'When people ask you how to lose weight: eat less, exercise more. How do you control the budget deficit? You spend less or control spending, and grow more,'" Bessent said. "If we can keep spending flat to down and grow at least 5% nominally, maybe higher, then our deficit-to-GDP ratio - which ended the fiscal year with a 5 in front of it, the worst outside of war or recession - could make substantial progress again." READ MORE FROM FOX BUSINESS FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/media/treasury-secretary-bessent-expects-consumer-prices-drop-starting-next-month-amid-economic-recovery

Should the Social Security COLA be measured with a senior-focused inflation metric?

Posted by radio1n1 — Thu, 23 Oct 2025 07:26 GMT

Social Security benefits will get a boost for next year following the announcement of the annual cost-of-living adjustment (COLA) on Friday, a debate is emerging over whether there is a more appropriate inflation gauge that should be used to update benefits. The Senior Citizens League (TSCL) released a report noting that the current inflation gauge used to compute the annual Social Security COLA, known as CPI-W, has yielded slightly smaller COLAs than would've been doled out using an elderly-focused inflation metric, known as CPI-E. It found the average CPI-E is about 0.1 percentage points higher than CPI-W. CPI-W tracks inflation among urban wage earners and clerical workers using a basket of consumer goods and services, whereas CPI-E measures inflation for Americans aged 62 and up, and is indexed based on the spending patterns of that age group. TSCL estimated that over time, a retiree in 1999 would've received roughly $5,000 in extra benefits over 25 years due to the use of CPI-W instead of CPI-E. Those who retired in 2014 would've received a little more than $8,000 in extra benefits over 25 years under a formula switch. NEW SOCIAL SECURITY COLA RELEASE DATE CONFIRMED AMID GOVERNMENT SHUTDOWN "If you retired in 2024, which is the last year we have the data point to make the calculation of the average starting benefit, we're expecting somebody to lose about $12,000 over the course of a retirement," said TSCL statistician Alex Moore in an interview with FOX Business. Moore said that while that may not sound like a large amount, it could make a difference to a senior citizen's ability to financially handle costs that come up while they're in retirement. By law, the Social Security Administration and Bureau of Labor Statistics are required to use CPI-W for calculating the annual COLA for Social Security benefits, so Congress would have to act to change the formula used. While Democratic lawmakers have introduced bills to affect that change, those bills have died in committee in recent Congresses. TRUMP ADMIN SIGNALS CONGRESS WILL NEED TO CONSIDER ALL OPTIONS AS INSOLVENCY LOOMS IN 2034 The BLS notes that while government agencies have considered using CPI-E, it's a research price index and has some limitations that may make it less relevant under some circumstances. Those include a smaller sample size and higher sampling error for consumer spending categories, geographic areas sampled for the general population versus those 62 and older, outlets where prices are collected, as well as the item pricing due to the prevalence of senior citizen discounts. Romina Boccia, director of budget and entitlement policy at the Cato Institute, told FOX Business that, "Basing Social Security's COLA on the CPI-E is politically appealing for those who want to increase benefits, but it's economically and fiscally misguided." She said that CPI-E is "an unreliable experimental index that tends to overstate inflation because it's based on a narrow sample size (which increases sampling errors) and it doesn't fully account for how consumers substitute toward less expensive goods when prices change." KEEPING SOCIAL SECURITY FROM GOING BROKE REQUIRES TAX HIKES THAT WILL HIT YOUNGER AMERICANS FOR 6 FIGURES "A better measure is the chained CPI, which corrects these flaws and more accurately reflects how people respond to rising prices," she added. "That's why the federal tax code already uses the chained CPI - the more modern and accurate inflation index." "Applying chained CPI to Social Security would better align benefit adjustments with real inflation, not artificially inflated estimates that worsen the program's already unsustainable finances." Chained CPI accounts for consumer substitution between similar items and updates its expenditure rates every month to reflect more current spending patterns than CPI-W, which fixes expenditure weights based on past consumer surveys. GET FOX BUSINESS ON THE GO BY CLICKING HERE A Cato Institute analysis found that from 2013 to 2022, CPI-W overstated the rise in the cost of living by 0.26 percentage points when compared with chained CPI. via: https://www.foxbusiness.com/politics/should-social-security-cola-measured-senior-focused-inflation-metric

Coca-Cola officially rolls out cane sugar soda across US markets following Trump's urging: report

Posted by radio1n1 — Wed, 22 Oct 2025 18:52 GMT

Coca-Cola has reportedly begun rolling out soda made with cane sugar across the U.S., months after President Donald Trump urged the beverage giant to bring back the ingredient to its American products. A new 12-ounce, single-serve glass bottle of Coca-Cola's signature soda made with U.S. cane sugar is launching in select markets nationwide this fall, a spokesperson for the company told The New York Post. The move gives consumers "a classic and timeless way to enjoy their Coca-Cola Original Taste made with US cane sugar," the spokesperson said. COCA-COLA TO LAUNCH NEW PRODUCT WITH CANE SUGAR THIS FALL FOLLOWING TRUMP PUSH The Coca-Cola Company's Chief Financial Officer John Murphy told Bloomberg News on Tuesday that the launch will be gradual. "It's going to be a measured roll-out," Murphy said. "There is only a certain amount of cane sugar available in the United States." The announcement follows months after Trump said in July that he had spoken with Coca-Cola executives about bringing back "real cane sugar" to their U.S. products and that the company agreed. COCA-COLA'S SUGARCANE SHIFT: STATES THAT COULD BENEFIT FROM THE BEVERAGE GIANT'S LATEST MOVE "I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so," Trump wrote on Truth Social at the time. "I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them - You'll see. It's just better!" Just days after Trump's July announcement, Coca-Cola said in its second-quarter earnings report that it was planning to debut a version of its signature soda made with real sugar this fall. "As part of its ongoing innovation agenda, this fall in the United States, the company plans to launch an offering made with U.S. cane sugar to expand its Trademark Coca-Cola product range," Coca-Cola said. TRUMP SUCCESSFULLY CONVINCES COCA-COLA TO BRING BACK 'REAL' CANE SUGAR IN US DRINKS: 'IT'S JUST BETTER!' In the 1980s, the beverage giant swapped cane sugar, which came with high tariffs, for high-fructose corn syrup. High-fructose corn syrup was the cheaper alternative due to corn farming subsidies. While Mexican Coca-Cola, made with cane sugar and sold in glass bottles, is still imported into the U.S., it is a rarity that typically carries a higher price tag. Coca-Cola did not immediately respond to FOX Business' request for comment. GET FOX BUSINESS ON THE GO BY CLICKING HERE FOX Business' Daniella Genovese and Alex Koch contributed to this report. via: https://www.foxbusiness.com/retail/coca-cola-officially-rolls-cane-sugar-soda-us-markets-following-trumps-urging-report

Bessent fires back at Warren's $20B Argentina deal critique, invokes infamous fascist leader

Posted by radio1n1 — Wed, 22 Oct 2025 16:24 GMT

Treasury Secretary Scott Bessent hit back at Sen. Elizabeth Warren, D-Mass., defending the Trump administration's decision to provide Argentina a $20 billion currency swap line with Argentina's central bank earlier in October. Bessent's response came after Warren issued a letter voicing concern and requesting answers on why the Trump administration was moving forward with providing Argentina a financial lifeline as its economy struggles, particularly during a U.S. government shutdown, which started Oct. 1. "We have been forced to prioritize mission-critical efforts necessary to the discharge of the President's constitutional duties - including national security and global financial stability," Bessent said in the letter, obtained by Fox News Digital and sent to Warren Tuesday. TRUMP IS USING THE GOVERNMENT SHUTDOWN TO DO SOMETHING NO PRESIDENT HAS EVER DONE Bessent then accused Warren of displaying "Peronist views," a reference to a former president of Argentina, Juan Per n, and Peronism, an ideology that espouses that the government should have control of the national economy, according to the State Department's Office of the Historian. "There is little surprise - given your Peronist views on big government and freedom - that this type of action causes you great anxiety," Bessent said. CNN first reported the letter. Warren fired back at Bessent Wednesday and said Trump was more focused on helping an "ideological ally" rather than addressing U.S. issues during the shutdown. "Ultimately, President Trump does not appear to be interested in meaningfully addressing any of our country's pressing problems that are indeed 'mission-critical,'" Warren said in a new letter Wednesday. "Instead, during a government shutdown, his Administration is working to make direct purchases of a foreign currency - helping an ideological ally, billionaire investors, and major hedge funds while American farmers and workers miss paychecks and face rising costs for basic necessities." TRUMP DIRECTS HEGSETH TO PAY TROOPS DURING ONGOING GOVERNMENT SHUTDOWN STANDOFF AS HE RAILS AGAINST SCHUMER Warren, who is the top Democrat on the Senate Banking, Housing and Urban Affairs Committee, introduced the No Argentina Bailout Act in October. The measure would bar the Trump administration from using the Treasury Department's Exchange Stabilization Fund, which provides financing to foreign governments, to assist Argentina. Warren's office did not immediately respond to a request for comment from Fox News Digital. Bessent announced Oct. 9 that the Treasury Department would engage in the currency swap agreement with Argentina's central bank. The move was made in an attempt to stabilize the peso by exchanging it for U.S. dollars, and Bessent said in a social media post that the U.S. "is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets." Since then, Bessent has floated issuing Argentina an additional $20 billion in financing, using sovereign funds and those from private banks. HERE'S WHAT TRUMP WANTS TO DO TO RESHAPE THE FEDERAL GOVERNMENT DURING THE SHUTDOWN "We are working on a $20 billion facility that would complement our swap line, with private banks and sovereign funds that, I believe, would be more focused on the debt market," Bessent said Oct. 16. President Donald Trump and President Javier Millei of Argentina have had a warm relationship since Trump took office. For example, Milei was the first foreign head of state to visit Trump following the 2024 election. The Associated Press and Fox News' Amanda Macias contributed to this report. via: https://www.foxbusiness.com/politics/bessent-fires-back-warrens-20b-argentina-deal-critique-invokes-infamous-fascist-leader

Trump administration hits Russia's top oil firms with sanctions to stunt war funding, urges ceasefir

Posted by radio1n1 — Wed, 22 Oct 2025 16:22 GMT

The Treasury Department under President Donald Trump sanctioned Russia's two largest oil producers, Rosneft and Lukoil, on Wednesday, escalating pressure on the Kremlin to end its war in Ukraine. Treasury Secretary Scott Bessent said the move targets the oil companies that "fund the Kremlin's war machine" and called on Moscow to agree to an "immediate ceasefire." "We canceled the meeting with President Putin," Trump told reporters in the Oval Office alongside NATO Secretary Gen. Mark Rutte on Wednesday, not long after the sanctions were announced. "It just, it didn't feel right to him. It didn't feel like we were going to get to the place we have to get, so I canceled it. But we'll do it in the future." Bessent said in a Treasury Department news release announcing the sanctions that the bloodshed in Ukraine must stop. TRUMP DEMANDS NATO ALLIES HALT RUSSIAN OIL PURCHASES BEFORE NEW US SANCTIONS "Now is the time to stop the killing and for an immediate ceasefire," Bessent said. "Given President [Vladimir] Putin's refusal to end this senseless war, the Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. The Treasury is prepared to take further action if necessary to support President Trump's effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions." The sanctions block dozens of subsidiaries tied to both energy giants and signal a broader push to isolate Russia's economy and to "degrade the Kremlin's ability to raise revenue for its war machine." Officials say more action could follow if Russia continues to refuse peace talks. "I think that they'll certainly have an impact there. They're massive sanctions and sanctions on oil. The two biggest oil companies, among the biggest in the world," Trump said during a press gaggle in the Oval Office alongside NATO Secretary Gen. Mark Rutte Wednesday not long after the sanctions were announced. TRUMP DOUBLES DOWN ON 'VERY SEVERE' CONSEQUENCES THREAT IF PUTIN BLOCKS PEACE PROCESS "But they're Russian. They do a lot of oil. And, hopefully it'll push. Hopefully, [Putin] become reasonable and hopefully [Ukrainian President Volodymyr] Zelenskyy will be reasonable to, you know, it takes two to tango." The Treasury's release echoed Trump's sentiments, pointing the finger at Moscow. "The United States will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia's willingness to negotiate in good faith. Treasury will continue to use its authorities in support of a peace process," the Treasury Department said. GET FOX BUSINESS ON THE GO The sanctions' authority, Executive Order 14024, was used to justify the move. U.S. allies were encouraged to follow suit, and all assets under American jurisdiction are now frozen. via: https://www.foxbusiness.com/politics/trump-administration-hits-russias-top-oil-firms-sanctions-stunt-war-funding-urges-ceasefire

Tesla recalls thousands of vehicles over battery defect that increases crash risk

Posted by radio1n1 — Wed, 22 Oct 2025 15:58 GMT

Tesla is recalling 12,963 vehicles in the U.S. over a battery pack defect that could cause a sudden loss of power. The recall affects certain 2025 Model 3 and 2026 Model Y vehicles, which may lose the ability to accelerate while driving, raising the risk of a crash, the U.S. National Highway Traffic Safety Administration (NHTSA) said in a notice issued Tuesday. About 1% of the recalled vehicles are estimated to have the defect, according to NHTSA. FORD ISSUES RECORD 103 SAFETY RECALLS IN 2025 WITH FOUR MONTHS STILL REMAINING IN THE YEAR The recall covers 7,925 2026 Model Y vehicles built between March 15 and Aug. 15, 2025, as well as 5,038 2025 Model 3 vehicles manufactured between March 8 and Aug. 12, 2025, according to NHTSA. The issue involves a battery pack contactor made with an InTiCa solenoid that can suddenly open due to a poor coil termination connection, NHTSA noted. "If the contactor opens when the vehicle is in drive, the driver loses the ability to apply torque to the vehicle using the accelerator pedal resulting in a loss of propulsion, which may increase the risk of a collision," according to NHTSA. MAJOR AUTOMAKER RECALLS OVER 135K VEHICLES DUE TO FIRE RISK As of Oct. 7, Tesla had identified 36 warranty claims and 26 field reports linked to the issue. It was not aware of any collisions, injuries or fatalities. The EV maker will replace the impacted battery pack contactor free of charge. Letters notifying owners are expected to be mailed on Dec. 9, according to NHTSA. FORD RECALLS NEARLY 625K VEHICLES FOR SEATBELT, CAMERA DISPLAY ISSUES Earlier this month, Tesla was placed under federal investigation after numerous reports accused its "Full Self-Driving" software of violating traffic laws, resulting in at least six crashes, four of which resulted in injuries. In a report dated Oct. 7, NHTSA cited at least 18 complaints involving Tesla vehicles using the self-driving feature that allegedly ran red lights or veered into opposing lanes. GET FOX BUSINESS ON THE GO BY CLICKING HERE Tesla did not immediately respond to FOX Business' request for comment. FOX Business' Bonny Chu contributed to this report. via: https://www.foxbusiness.com/retail/tesla-recalls-thousands-vehicles-battery-defect-increases-crash-risk-drivers

National debt surpasses $38 trillion milestone for first time in US history as spending surges

Posted by radio1n1 — Wed, 22 Oct 2025 15:21 GMT

The U.S. national debt surpassed another historic milestone as it topped $38 trillion for the first time this week, as the federal government continues to rack up debt at a record-setting pace. New data from the Treasury Department released on Wednesday showed that the gross national debt reached $38,019,813,354,700.26 as of Oct. 21. The $38 trillion milestone comes a little over two months after the U.S. national debt reached $37 trillion for the first time in mid-August, and less than a year after the $36 trillion threshold was breached last December. America's debt has grown rapidly over the last decade as the population ages and enrollment in Social Security and Medicare rises. Another key driver of the surging debt is interest expenses incurred from servicing the federal debt, which have swelled due to higher interest rates put in place to curb inflation as well as the growth in the debt itself. US DEBT SET TO SURGE TO 120% OF GDP AS FEDERAL DEFICITS SPIRAL OVER NEXT DECADE UNDER NEW PROJECTIONS Michael A. Peterson, CEO of the Peter G. Peterson Foundation, told FOX Business that "reaching $38 trillion in debt during a government shutdown is the latest troubling sign that lawmakers are not meeting their basic fiscal duties." "If it seems like we are adding debt faster than ever, that's because we are. We passed $37 trillion just two months ago, and the pace we're on is twice as fast as the rate of growth since 2000," he added. Peterson noted that the costs of servicing the national debt are rising, as they cost the U.S. about $4 trillion over the last decade and are estimated at $14 trillion in the next 10 years, adding that interest costs "crowd out important public and private investments in our future, harming the economy for every American." CBO REPORTS $1.8 TRILLION FEDERAL DEFICIT AS DEBT COSTS HIT RECORD $1 TRILLION The federal government ran a roughly $1.8 trillion budget deficit in its latest fiscal year, which ended on Sept. 30, and the projected rise in spending on entitlement programs and debt interest is expected to push deficits even higher in the years ahead. The nonpartisan Congressional Budget Office (CBO) has projected that the national debt held by the public - an alternative measure preferred by economists in comparing the size of a nation's debt to its economy in terms of real gross domestic product (GDP) - is set to rise from roughly 100% of GDP in 2025 to 120% of GDP by 2035. US DEBT TOPS $37 TRILLION AND THE 'BIG, BEAUTIFUL BILL' ALLOWS IT TO RISE TRILLIONS HIGHER In that timeframe, annual budget deficits are expected to rise to about $2.6 trillion in 2035, with total deficits over the next decade adding $22.7 trillion to the national debt. High interest costs on the national debt account for a significant portion of the increase, as net interest payments are expected to rise from $1 trillion this year to $1.8 trillion in 2035. Over the next decade, CBO projects federal spending will total $88 trillion, or 23.6% of GDP, while tax revenue will be over $65 trillion, or 17.5% of GDP. GET FOX BUSINESS ON THE GO BY CLICKING HERE The level of federal spending projected is well above the historical average of 21.1% of GDP over the last 50 years, while tax revenue is slightly above the 50-year average of 17.3%. via: https://www.foxbusiness.com/politics/national-debt-surpasses-38-trillion-milestone-first-time-us-history-spending-surges

Molson Coors to cut hundreds of jobs in restructuring plan

Posted by radio1n1 — Wed, 22 Oct 2025 15:04 GMT

Molson Coors Beverage Company announced Monday that it plans to eliminate about 400 jobs by the end of the year, as part of a sweeping corporate restructuring plan. The cuts - which represent roughly 9% of the company's salaried workforce in the Americas - come as alcohol companies across the U.S. face uncertainty amid slower consumer spending and tariff-driven volatilities. PATRIOTS LEGEND VINCE WILFORK TEAMS UP WITH SAMUEL ADAMS FOR GRILLING-THEMED BEER LAUNCH "We've made progress on our transformation journey, but given the environment, we must transform even faster," Rahul Goyal, who became Molson Coors' new CEO earlier this month, said in a statement. "To win with our customers and consumers and return to growth, we must move with urgency and make bolder decisions." Goyal added, "We are moving quickly and intentionally on a long-term, achievable strategy that continues our journey to become a total beverage company and that we believe puts us on the path to sustainable growth. We look forward to sharing more detail on this strategy in the coming months." FORMER BUD LIGHT CONSULTANT SPEAKS OUT ON HOW BRAND LOST ITS WAY As part of the restructuring, Molson Coors will reinvest in key categories, including its beer portfolio as well as premium mixers, non-alcoholic beverages and energy drinks, according to a press release from the company. The 400 job cuts include positions that were already vacant following earlier "role-prioritization efforts," as well as workers who may accept voluntary severance packages, as noted in the announcement. REAL AMERICAN BEER COLLABORATES WITH WWE FOR SPECIAL HULK HOGAN COLLECTIBLE CAN: 'HULKAMANIA FOREVER' Molson Coors expects to incur charges of $35 million to $50 million in the fourth quarter, primarily tied to cash severance payments and post-employment benefits, according to the company. As of December 2024, Molson Coors employed about 16,800 people globally. "These are never easy decisions, and I am grateful to those who will be departing for their many contributions and to those who will continue to guide us on our journey toward growth," Goyal said. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/markets/molson-coors-cut-hundreds-jobs-restructuring-plan

State treasurers push CFPB on third-party financial data access rule

Posted by radio1n1 — Wed, 22 Oct 2025 13:12 GMT

A dozen state financial officers are writing to the Consumer Financial Protection Bureau (CFPB) to uphold consumers' right to share financial data with authorized third parties as the agency weighs a rule that could restrict their ability to do so, according to a letter exclusively reviewed by FOX Business. The CFPB is considering revising a regulation under section 1033 of the Dodd-Frank Act, which would revise the definition of a "representative" who makes a request on behalf of the consumer, as well as how to assess fees to cover costs incurred by a covered person responding to a customer request. Twelve state financial officers - including nine treasurers, two auditors and one controller - wrote in favor of the rule recognizing consumer-authorized third parties as "representatives" while preserving existing authorization and conduct requirements. They wrote that Section 1033 gives consumers a right to access their financial information upon request and that the rule includes agents, trustees or representatives acting on their behalf, including those who aren't fiduciaries, upon the consumer's authorization, which is the "touchstone" of the process that needs to be preserved. KEY GOP LAWMAKERS BACK TRUMP'S EXECUTIVE ORDER FOR CRYPTO, OTHER ALTERNATIVE ASSETS IN 401(K) PLANS "Preserving this interpretation promotes competition and innovation (including for real-time payments, budgeting tools, alternative credit assessment, AI, and crypto) and it reduces the risks of debanking and market concentration," the financial officers wrote. "In contrast, narrowing 'representative' would harm consumers by reducing choice and entrenching incumbents - outcomes counter to Section 1033's competitive purpose," they explained. The group of state financial officers wrote that the CFPB should affirm the text of the rule by clarifying that a consumer-authorized third-party qualifies as a representative acting on their behalf. SEC CHAIR WANTS PRIVATE MARKET INVESTMENTS AVAILABLE FOR AMERICANS' 401(K) PLANS They also wrote the definition of "representative" shouldn't be limited to fiduciary relationships as it's not required by the text and would "unduly restrict consumer choice." "Consumers should be able to exercise their Section 1033 rights directly or through an authorized representative of their choosing. A text-faithful interpretation of 'representative' sustains competition and innovation and reduces risks of debanking and market concentration," the state financial officers explained. State financial officers who signed onto the letter include Kansas Treasurer Steven Johnson, Kentucky Treasurer Mark Metcalf, Mississippi Treasurer David McRae, Nebraska Auditor Mike Foley, Nebraska Treasurer Tom Briese, Nevada Controller Andy Matthews, North Dakota Treasurer Thomas Beadle, Ohio Treasurer Robert Sprague, South Carolina Treasurer Curtis Loftis, Utah Auditor Tina Cannon, Utah Treasurer Marlo Oaks and Wyoming Treasurer Curt Meier. ANTI-WOKE GROUPS IN US AND FRANCE JOIN FORCES TO COMBAT DEBANKING AND CORPORATE IDEOLOGICAL POLICIES The public comment period for the CFPB's rule closed on Tuesday night and the rule attracted nearly 14,000 comments. Sen. Cynthia Lummis, R-Wyo., sent a letter to the CFPB in support of open banking policies as the agency considers the rule, while consumer groups have also weighed in. "Major financial institutions are attempting to consolidate their power and maintain monopolistic control over consumer data," Will Hild, executive director of Consumers' Research, said in a statement. GET FOX BUSINESS ON THE GO BY CLICKING HERE "If these major banks are allowed to continue to control access to consumer data, they will have even greater leverage to punish Americans for their beliefs and to coerce compliance with their radical left-wing ideology." via: https://www.foxbusiness.com/politics/state-treasurers-push-cfpb-third-party-financial-data-access-rule

Walmart halts hiring workers who need H-1B visas after Trump administration imposes new fee

Posted by radio1n1 — Wed, 22 Oct 2025 13:00 GMT

Following the Trump administration's decision to add a $100,000 fee to H-1B visa applicants, one retail giant has reportedly paused job offers to candidates who require the work permit. Walmart has halted hiring individuals who require an H-1B temporary work visa due to the Trump administration's decision to impose a $100,000 application fee, people familiar with the matter told Bloomberg. The current guidelines primarily affect corporate employees, the outlet reported. Government data shows the company is the largest user of H-1B visas among major retailers, employing about 2,390 visa holders. "We've got qualified Americans all over this country," Azoria CEO James Fishback said in reaction on "Varney & Co." Wednesday. "[Students'] big fear, as the youth unemployment rate is now double that of the national average, is that they are not going to get jobs because Google, Amazon, Meta and Apple are turning to foreigners from India and China to replace those roles." BUSINESS LEADERS WARN TRUMP'S $100K H-1B VISA FEE COULD HURT INNOVATION, DRIVE TALENT OUT OF U.S. "Made in America has to be taken a step further: made in America by Americans," he continued. "The entire social contract of America is that we put our people first. When we have qualified Americans looking for jobs, and they're being passed over because a Fortune 500 company wants to get cheap labor from India and exploit that labor, that is not OK." Walmart did not respond to Fox News Digital's request for comment. Last month, President Donald Trump issued a proclamation restricting the issuance of H-1B visas by requiring applicants to pay a $100,000 fee starting Sept. 21, a move that prompted a lawsuit from the U.S. Chamber of Commerce. The Chamber argues the fee illegally overrides provisions of the Immigration and Nationality Act that govern the H-1B visa program, including the requirement that fees reflect government processing costs. The H-1B visa program allows employers to hire foreign workers in specialty occupations that require specific expertise and at least a bachelor's degree. H-1B workers have temporary authorization to work in the U.S., though the visa is renewable. The program's intent is to give employers access to talent not available in the domestic workforce, and by law, companies must certify that wages for H-1B employees are comparable to those of similar U.S. workers. GET FOX BUSINESS ON THE GO BY CLICKING HERE "We should take the absolute best of the best, and that's what the O-1 visa program allows us to do," Fishback noted. "If you are a top AI scientist from China and you want to help OpenAI beat the China arms race in AI and get us at the very top, absolutely, bring them in." "I think the way to do it is let the market decide how you do it, and you do that by actually creating a floor with the scope of actually ending the H-1B program entirely," he added. "If you're saying you can't afford $100,000 a year to pay some skilled worker, then they're not all that skilled at the end of the day." READ MORE FROM FOX BUSINESS FOX Business' Eric Revell contributed to this report. via: https://www.foxbusiness.com/media/walmart-halts-hiring-workers-who-need-h1-b-visas-after-trump-administration-imposes-new-fee

Trump admin eyes Argentine beef imports as domestic prices soar to record highs

Posted by radio1n1 — Wed, 22 Oct 2025 12:36 GMT

Agriculture Secretary Brooke Rollins on Tuesday said that the U.S. is considering imports of beef from Argentina to reduce prices that have been at record highs this year. Rollins said in an appearance on CNBC's "Squawk Box" that the Trump administration is preparing to announce a plan to import beef from Argentina to help increase the beef supply, as prices surged with cattle inventory declining to the lowest level in decades. "The president has mentioned it a couple of times, I think you'll be hearing more about exactly what that looks like," Rollins said. "In America, we consume about 12 million metric tons of beef, 10 million of that we produce here in America, but the 2 million I'm talking about we've been offshoring." GOP LAWMAKERS WARN TRUMP'S ARGENTINA BEEF PROPOSAL COULD RATTLE US RANCHERS Rollins said that within the 2 million metric tons of imports, there is a distinction between ground beef purchases versus muscle cuts of beef. She added that imports from Argentina "will not be very much" when compared with the 12 million metric tons of U.S. beef consumption. The agriculture secretary also noted that the U.S. Department of Agriculture (USDA) will be closely monitoring imports for foot-and-mouth disease due to an outbreak affecting Argentine cattle. "Argentina is also facing foot-and-mouth disease issue, which we at USDA have to ensure that our livestock industry is secure. And I know you've heard a lot about the screwworm coming up from Mexico, foot-and-mouth is a challenge too," Rollins said. BEEF PRICES HIT RECORD HIGHS AS NATIONWIDE CATTLE INVENTORY DROPS TO LOWEST LEVEL IN 70 YEARS "We're going to ensure that our livestock industry is protected," she added. "This is a very nuanced, very complex market that we're moving in every potential possible direction to make sure that we've got a good future for these ranchers." National Cattlemen's Beef Association CEO Colin Woodall told FOX Business in a statement that the trade group's "family farmers and ranchers have numerous concerns with importing more Argentinian beef to lower prices for consumers." AMERICAN SOYBEAN FARMERS FACE FINANCIAL CRISIS AS CHINA TRADE DISPUTE THREATENS LIVELIHOODS "This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices," Woodall said. He also noted that the U.S. and Argentina have had a "deeply unbalanced trade relationship," with beef sales from Argentina topping $800 million over the last five years while just $7 million of U.S. beef has been sold in Argentina. GET FOX BUSINESS ON THE GO BY CLICKING HERE Woodall warned that if foot-and-mouth disease is brought into the U.S. it "could decimate our domestic livestock production." via: https://www.foxbusiness.com/economy/trump-administration-eyes-argentine-beef-imports-domestic-prices-soar-record-highs

Mega Millions jackpot jumps to $680M

Posted by radio1n1 — Wed, 22 Oct 2025 11:14 GMT

The Mega Millions jackpot surged to an estimated $680 million ahead of Friday night's drawing, making it the ninth-largest prize in the game's history. The pot grew after no ticket matched all six numbers from Tuesday night's drawing. The white balls were 2, 18, 27, 34 and 59. The gold Mega Ball was 18. MEGA MILLIONS JACKPOT NOW AMONG TOP 10 HIGHEST IN CONTEST HISTORY It now has an estimated cash value of $318.2 million, according to the lottery. In the Oct. 21 drawing, there were nearly 437,000 tickets across all prize tiers for total winnings of about $12 million. One ticket, sold in Illinois, matched all five white balls to win the second-tier prize, Mega Millions said. POWERBALL JACKPOT FLASHBACK: THREE RECORD-BREAKING DRAWINGS WORTH REMEMBERING IN 2025 The jackpot was most recently won on June 27, 2025, in Virginia. 'WHEEL OF FORTUNE' CONTESTANT MAKES SHOW HISTORY WITH RECORD-BREAKING MILLION-DOLLAR WIN Mega Millions tickets are $5 each and are sold in 45 states, Washington, D.C., and the U.S. Virgin Islands. The drawing takes place Tuesdays and Fridays at 11 p.m. ET. The odds of winning a prize are 1 in 23, while the odds of winning the jackpot are 1 in 290.5 million, according to Mega Millions. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/lifestyle/mega-millions-jackpot-jumps-680m

GM plans 'eyes-off' driving, AI and other high-tech features for vehicles

Posted by radio1n1 — Wed, 22 Oct 2025 10:37 GMT

General Motors is positioning itself to take a leading role in the AI evolution with a suite of upgrades from anticipating a driver's needs to driving for them. The automaker, which sells vehicles under the Chevrolet, Cadillac, GMC and Buick brands, plans to equip its vehicles with conversational AI powered by Google Gemini next year ahead of GM's launch of its own custom-built AI. With the conversational AI, drivers will be able to draft and send messages and plan routes with context, such as finding a charging stop near a favorite coffee shop or even prep for a meeting on the go, the automaker said. Starting in 2026, enhancements will be rolled out through a software update to OnStar-equipped vehicles starting with model year 2015. SOME JEEP PRODUCTION HOBBLED BY ALUMINUM SHORTAGE That's just one step in its broader plan to build "cars that don't just move you but anticipate then adapt to your needs and improve over time." The automaker is already drawing up plans to build out its own custom-built AI that will be fine-tuned to each vehicle's intelligence and the driver's personal preferences. The automaker didn't specify when its custom-built AI will be available. It will run on GM's next-generation centralized computing platform, which won't debut until 2028. FORD TEMPORARILY CUTS PRODUCTION AT KENTUCKY TRUCK PLANT AFTER FIRE ERUPTS AT SUPPLIER Its AI platform, Integrated through OnStar, will connect to the vehicle's onboard intelligence to deliver vehicle-specific insights such as upcoming maintenance alerts and optimized route planning. It will also explain car features like one-pedal driving and even recommending a dinner spot based on a driver's past preferences and routes. There will also be privacy controls that let drivers determine what they share and how tailored their experience should be, according to GM. GM DOUBLES DOWN ON AMERICAN MANUFACTURING WITH $4B INVESTMENT The company also plans to introduce "eyes-off driving" in 2028, debuting on the Cadillac Escalade IQ for highway use. GM says the vehicle is "designed to handle the drive when you want it to," marking another step toward its vision of personal autonomy in driving. It's a step up from the hands-free driving currently available with Super Cruise. The turquoise lighting across the dashboard and exterior mirrors on the vehicle will signal when the system is active. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Unlike vision-only systems, GM's approach is built on redundancy with LiDAR, which provides a high-resolution 3D map of the vehicle's environment, radar and cameras integrated into the vehicle's design," GM said. Since its debut in 2017, Super Cruise has expanded to 23 vehicle models, enabling more than 700 million hands-free miles with zero reported crashes attributed to the system. via: https://www.foxbusiness.com/lifestyle/gm-plans-eyes-off-driving-ai-other-high-tech-features-vehicles

Amazon plans to avoid hiring 600,000 workers through AI automation strategy to double sales by 2033

Posted by radio1n1 — Wed, 22 Oct 2025 09:30 GMT

Amazon is not wasting any time on its future ambitions for automation and how artificial intelligence (A.I.) technology could reshape its workforce. The e-commerce giant aims to sell twice as many products by 2033 without adding to its U.S. workforce - a shift that could mean more than 600,000 jobs Amazon would not need to fill, according to internal documents reviewed by The New York Times. Amazon's chief technologist, Tye Brady, told FOX Business on Wednesday that employees currently working at Amazon won't lose their jobs to robots - instead, the new technology is designed to work alongside humans. AMAZON HIRING 250,000 WORKERS FOR UPCOMING HOLIDAY SEASON "So of the speculative hiring, it's still speculation, right? But I do know this - I do know that we will continue to amplify what our employees can do by giving them the best tool set possible. That's using physical A.I. systems in order to create a safer environment and more productive environment for employees," Brady said in an interview that aired on "Mornings with Maria." Documents reviewed by The Times reportedly showed that Amazon's robotics team has a long-term goal of automating 75% of its operations. "Leaked documents often paint an incomplete and misleading picture of our plans, and that's the case here. In our written narrative culture, thousands of documents circulate throughout the company at any given time, each with varying degrees of accuracy and timeliness. In this instance, the materials appear to reflect the perspective of just one team and don't represent our overall hiring strategy across our various operations business lines - now or moving forward," Amazon spokesperson Kelly Nantel told Fox News Digital. "The facts speak for themselves: No company has created more jobs in America over the past decade than Amazon. We're actively hiring at operations facilities across the country and recently announced plans to fill 250,000 positions for the holiday season," Nantel added. In 2024, Amazon's logistics division processed roughly 6.3 billion U.S. delivery orders - about 17.2 million per day, or more than 717,000 per hour - according to research by Capital One Shopping. GET FOX BUSINESS ON THE GO BY CLICKING HERE On Wednesday, Amazon is hosting a "Delivering the Future" event at a delivery station in Milpitas, Calif., where the company plans to unveil new robotics and A.I. technologies to improve its delivery process. This comes on the heels of a massive Amazon Web Services outage this week that impacted various external websites and even disrupted package deliveries, some Amazon customers claimed. "It's hard to say exactly what the scale of that impact [was]. I know that we have recovery systems in mind. Whenever something like that does happen, we can revert back to the local cloud that's inside of our building, if you want to think of it that way," Brady explained. "We did see a major impact across our deliveries, but we know that our customers had a major impact there and we take that really seriously." READ MORE FROM FOX BUSINESS via: https://www.foxbusiness.com/media/amazon-plans-avoid-hiring-600000-workers-through-ai-automation-strategy-double-sales-2033

Trump roasted for coffee tariffs as bipartisan lawmakers spill the beans on price jitters

Posted by radio1n1 — Wed, 22 Oct 2025 08:01 GMT

FIRST ON FOX: Reps. Ro Khanna, D-Calif., and Don Bacon, R-Neb., are urging President Donald Trump to exempt coffee from reciprocal tariff measures that are "drastically increasing its price." Coffee prices were up 20.9% from a year ago in August, according to the most recent edition of the consumer price index (CPI) released by the Bureau of Labor Statistics. In a letter to Trump on Wednesday, Khanna and Bacon asked Trump to remove coffee from his reciprocal tariffs in order to bring prices down for the two out of three Americans who drink coffee every day, according to the National Coffee Association. "We respectfully request your administration exempt coffee from reciprocal tariff measures that are drastically increasing its price," Khanna and Bacon said, according to the letter obtained by Fox News Digital. "The administration can do this by adding coffee (both green beans, as well as roasted and ground products) to Annex II of Executive Order 14257. Given that our nation consumes around 400 million cups per day, this action is one modest but meaningful way to help the American people." Trump's "Liberation Day" tariffs included a list of exempt goods, but coffee isn't on the list. As Trump's universal reciprocal tariffs seek to level the playing field for international trade, the congressmen said coffee does not have "a viable large-scale domestic alternative." WHITE HOUSE RIPS 'IMBECILIC BUFFOON' TIM WALZ AFTER TRUMP TARIFF CRITICISM "Though Hawaii and Puerto Rico grow small quantities of specialty coffee, domestic production accounts for less than 1 percent of all the coffee consumed by Americans. Tariffs on coffee do not protect domestic businesses and interests-they only raise costs and amount to an additional tax on American consumers. It is not practical to tariff a product that our nation does not meaningfully produce," the bipartisan congressmen said in their letter to Trump. TRUMP'S TARIFF POWER GRAB BARRELS TOWARD SUPREME COURT According to the National Coffee Association, 99% of coffee is imported from outside the U.S. "I'm always with a coffee mug, so it's a personal issue for me, and we're hoping that the president recognizes this as part of his exemption," Khanna told Fox News Digital in an exclusive interview. Khanna, who represents California's Silicon Valley in the U.S. House of Representatives, said his constituents tell him they are concerned about tariffs impacting the economy. "I've heard from a lot of small business owners, coffee shops actually, and a lot of them are facing real pressures. Some may go out of business if this coffee tariff remains," Khanna said, while also explaining that hospitality workers are experiencing increased costs and consumers are seeing prices go up. Khanna said he hopes the letter sparks a "broader conversation about repealing the tariffs on food products, and particularly food products that we basically don't grow in the United States." More than half of Americans drink coffee every day, including Khanna's Republican colleague, Bacon, who is retiring from representing Nebraska's 2nd Congressional District in the U.S. House of Representatives next year. Khanna and Bacon traveled to Mexico earlier this year for a meeting with President Claudia Sheinbaum, which was aimed at developing a more "constructive approach" to Trump's tariffs. The bipartisan duo also teamed up last month to introduce the "No Coffee Tax Act," seeking to repeal the Trump administration's tariffs on coffee. "There is no American alternative to coffee," Bacon told Fox News Digital. "Why tariff something we can't grow? All you are doing is punishing Americans." Bacon, one of few House Republicans who has been willing to push back against the Trump administration's second term, introduced legislation to return tariff control to Congress earlier this year. "I've always been honest. I try to be tactful, but I have always pushed back where I thought there was a big concern," Bacon said. "I want to do what's right, despite what anybody thinks." The retiring congressman said his constituents are feeling the impact of Trump's tariffs on the economy, particularly soybean farmers who have been unable to sell their goods. "I feel a little freer to do it since I announced, but I don't know that I would have done it any differently," Bacon said, explaining that pushing back on Trump's tariffs is one of his top priorities as he closes out his final term. When reached for comment, White House spokesman Kush Desai told Fox News Digital, "Ro Khanna doesn't know what he's talking about. The President has included coffee in a recent executive order breaking down goods that are eligible for tariff-free treatment as part of trade deals. Coffee prices globally are also near historic highs because of supply woes in coffee-growing regions of the world, not tariffs." via: https://www.foxbusiness.com/politics/trump-roasted-coffee-tariffs-bipartisan-lawmakers-spill-beans-price-jitters

Government shutdown threatens food stamps for 42 million Americans: 'Insufficient funds'

Posted by radio1n1 — Wed, 22 Oct 2025 02:58 GMT

Millions of Americans who rely on federal food assistance could face benefit delays if Congress does not break its budget stalemate. The U.S. Department of Agriculture (USDA) sent a letter on Oct. 10 to all regional Supplemental Nutrition Assistance Program (SNAP) directors and state agency directors warning that funds for SNAP, also known as food stamps, will run out after October if lawmakers don't approve a new spending bill. "If the current lapse in appropriations continues, there will be insufficient funds to pay full November SNAP benefits for approximately 42 million individuals across the Nation," the letter reads. The USDA's Food and Nutrition Service (FNS) has told all states to hold off on sending out November benefit files to electronic benefit transfer (EBT) vendors until further notice. 'REAL CONSEQUENCES': FOOD AID, FLOOD INSURANCE, FEMA FUNDS IN JEOPARDY AMID SHUTDOWN, JOHNSON SAYS The memo signed by Ronald Ward, the agency's acting associate administrator, appears to be a precaution meant to buy time until the government can come to an agreement during the shutdown. "We appreciate the partnership with States that administer this critical nutrition assistance program," Ward wrote. "We will continue to keep you apprised with information as we exercise due diligence in our oversight of the program." PREDICTION MARKETS SIGNAL GOVERNMENT SHUTDOWN MAY LAST INTO MID-NOVEMBER SNAP benefits for many Americans are the difference between putting food on the table and their families going hungry, according to Feeding America, and as prices for groceries, gas, and rent remain elevated, any interruption could prove devastating. "Families, federal workers-including active-duty military-people who work for federal contractors and seniors suddenly face impossible choices not knowing if paychecks or food benefits will arrive on time," Feeding America said in a statement urging Congress to end the shutdown. GOVERNMENT SHUTDOWN 101: WE'VE BEEN HERE BEFORE, HERE'S WHAT HAPPENS NEXT The urgent request comes as Congress remains locked in what is turning into the longest budget fight yet, with little sign of progress. The last time a prolonged funding lapse threatened SNAP, many states scrambled to reissue benefits early; however, officials are saying they may not have the flexibility this time. GET FOX BUSINESS ON THE GO BY CLICKING HERE For now, SNAP participants don't need to reapply or take any action. Their October benefits are secure, and the USDA says it will keep states updated on any changes to contingency plans. via: https://www.foxbusiness.com/economy/government-shutdown-threatens-food-stamps-42-million-americans-insufficient-funds

Nevada player turns $3 bet into $1M jackpot on 'Wheel of Fortune' progressive slot machine

Posted by radio1n1 — Tue, 21 Oct 2025 18:13 GMT

A $3 bet turned into a million-dollar miracle Friday when a lucky Nevada player hit it big on a "Wheel of Fortune" slot machine. "Congratulations to a local guest on hitting an incredible $1,048,675.87 jackpot playing IGT's Wheel of Fortune Cash Link Big Money at Sunset Station last night!" the Sunset Station Hotel and Casino posted on Facebook. The casino shared the update in a celebratory post on Saturday, sparking multiple congratulatory comments from fans and fellow gamblers online. The post included an image of the progressive video slot machine, showing a grand prize of $1,048,675.87 at the top. Other potential payouts listed included one just over $10,100 and another for nearly $1,200. POWERBALL JACKPOT FLASHBACK: THREE RECORD-BREAKING DRAWINGS WORTH REMEMBERING IN 2025 The "Wheel of Fortune" Cash Link Big Money machine is a progressive slot, meaning the prize pool grows each time a player wagers, often across multiple linked machines in different locations. Sunset Station told FOX Business the winner is a Las Vegas resident. MEGA MILLIONS JACKPOT NOW AMONG TOP 10 HIGHEST IN CONTEST HISTORY The casino sits in Henderson, a suburb about 13 miles southeast of the world-famous Las Vegas Strip. The property caters largely to locals seeking the same gaming excitement as the Strip without the crowds and parking headaches. International Game Technology (IGT), the maker of the machine, told FOX Business that its "Wheel of Fortune" Slots have awarded million-dollar jackpots to more than 1,200 players and have paid out over $3.5 billion in prizes. 'WHEEL OF FORTUNE' CONTESTANT MAKES SHOW HISTORY WITH RECORD-BREAKING MILLION-DOLLAR WIN Introduced in the mid-1990s, "Wheel of Fortune" slots have become one of the most recognizable and profitable slot brands in casino history, blending the thrill of the TV game show with the promise of life-changing jackpots. As for how the winner will receive the payout, IGT said players can choose between a discounted lump-sum payment or installments through a multi-year annuity. The lump-sum option provides immediate access to the winnings, while the annuity spreads payments out over time - a decision that often depends on financial planning and tax considerations. CLICK HERE TO READ MORE ON FOX BUSINESS According to IGT, a Wheel of Fortune jackpot of $100,000 or more hits every 72 hours. Friday's win adds to a string of high-profile jackpots in Nevada this year, where lucky spins continue to turn small bets into extraordinary paydays. via: https://www.foxbusiness.com/markets/nevada-player-turns-3-bet-1m-jackpot-wheel-fortune-progressive-slot-machine

NFL star Travis Kelce teams up with JANA Partners for major Six Flags investment

Posted by radio1n1 — Tue, 21 Oct 2025 17:16 GMT

JANA Partners, a New York-based investment firm, has tapped NFL superstar Travis Kelce for a venture that is the literal definition of fun. Kelce joins a group, which also includes consumer executive Glenn Murphy and technology executive Dave Habiger, that is investing in Six Flags Entertainment Corporation - the theme park giant with 42 locations across the United States, Mexico and Canada, with one coming to Saudi Arabia in 2026. This group will collectively own an economic interest of around 9%, or roughly $200 million, making them one of the largest shareholders of a corporation that is valued at an estimated $2.2 billion. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM "I am a lifelong Six Flags fan and grew up going to these parks with my family and friends," Kelce, the Kansas City Chiefs tight end, said in a statement. "The chance to help make Six Flags special for the next generation is one I couldn't pass up." Kelce also made a post on Instagram, where he referenced Cedar Point, one of the many parks under Six Flags that is located in Sandusky, Ohio - just over an hour outside where the Kelce family lived in Cleveland Heights. "To all my fellow theme park and amusement park lovers. I have some exciting news!!! Couldn't pass up the opportunity to continue the tradition and make Cedar Point and Six Flags even more special for the next generation of families!" his caption read. "Excited to partner with JANA Partners as an investor in Six Flags. So crazy to even imagine this is real, but you gotta love it when life comes full circle." TRAVIS KELCE GETS PLAYFUL PAYBACK ON PATRICK MAHOMES WITH SPOT-ON IMPERSONATION AT BRAZIL PRESS CONFERENCE JANA Partners reportedly wants to make big changes for Six Flags, which includes improved marketing and customer experience at all of its parks, according to The Wall Street Journal. There is also the potential of a sale as ways to boost its share price, which has gone down due to bad weather and declining visits to the parks. JANA Managing Partner Scott Ostfeld disclosed his firm's investment and its group at the 13D Monitor Active-Passive Investor Summit. "We look forward to working with the Six Flags board and management to unlock shareholder value for the benefit of all stakeholders," he said in a statement. As for Murphy, he brings a 30-year track record of "strategic and operational leadership across multiple major global brands," which includes serving as chairman and CEO of Gap, Inc. from 2007-14. He also had his hand in Petco Health and Wellness Company, Wella Beauty and Lululemon Athletica, Inc. Habiger currently serves as vice chairman of J.D. Power, and he previously held the title of President and CEO from 2018-25. And considering his influence in pop culture as well as sports, Kelce has been an investor in multiple brands throughout his future Hall of Fame career in the NFL. There is also a Six Flags location in Kansas City, as Worlds of Fun is owned and operated by the corporation. GET FOX BUSINESS ON THE GO BY CLICKING HERE It was a part of Cedar Fair LP, that purchased it for $40 million in 1995. But Six Flags and Cedar Fair merged in July 2024, creating Six Flags Entertainment Corporation. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter. via: https://www.foxbusiness.com/sports/nfl-star-travis-kelce-teams-up-jana-partners-major-six-flags-investment

Disney+ lost nearly 3 million subscribers after Jimmy Kimmel suspension: report

Posted by radio1n1 — Tue, 21 Oct 2025 16:51 GMT

Recent reports revealed that Disney+ experienced a sharp increase in the number of subscribers ditching the streaming service after the brief suspension of Jimmy Kimmel's show. According to data from subscription analytics firm Antenna, as reported by The New York Times on Monday, Disney+ lost approximately 3 million subscribers in September, the same month that ABC suspended the late night show for Kimmel's comments regarding Charlie Kirk's assassination. This was roughly twice as much as the three-month average loss of approximately 1.2 million subscribers. The "churn" rate, or percentage of subscribers who cancel monthly, also doubled for Disney+, jumping from approximately 4% in August to 8% in September, according to Antenna. JIMMY KIMMEL SHEDS 64% OF AUDIENCE AFTER SHORT-LIVED RATINGS SPIKE FOLLOWING SUSPENSION Hulu, another streaming service owned by Disney, saw a similar trend with 4.1 million subscribers leaving the service in September compared to 1.9 million just one month prior. Hulu's "churn" rate rose from 5% to 10% during that same period. Despite the spike in cancellations, both Disney+ and Hulu also saw a significant increase in subscribers in September. Disney+ gained approximately 2.2 million subscribers in the U.S. while Hulu added approximately 2.1 million new subscribers, representing roughly 10% and 5% increases, respectively, compared to August. Fox Business reached out to Disney for comment. ABC'S 'JIMMY KIMMEL LIVE!' HEMORRHAGED VIEWERS OVER PAST DECADE, LOST 72% AMONG KEY DEMO Kimmel initially came under fire by audiences after falsely suggesting that Kirk's alleged assassin was part of "the MAGA gang" despite reports about his left-wing ideology. "We hit some new lows over the weekend with the MAGA gang desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them and doing everything they can to score political points from it," Kimmel told his audience. Jimmy Kimmel's show was briefly suspended on Sept. 17 after broadcasting giants Sinclair Broadcast Group and Nexstar Media Group announced they would be preempting the program for Kimmel's controversial comments. ABC BRACES FOR A FINANCIAL HIT AS KIMMEL REMOVAL SHUTS OUT THESE ADVERTISERS After intense backlash from media commentators, protests outside the studio and threats to boycott Disney, the show returned to air less than one week later on Sept. 23. GET FOX BUSINESS ON THE GO BY CLICKING HERE Sinclair Broadcast Group and Nexstar Media Group then announced on Sept. 26 that they were ending the preemption of Kimmel's show. via: https://www.foxbusiness.com/media/disney-lost-nearly-three-million-subscribers-after-jimmy-kimmel-suspension-report

Beyond Meat, Walmart and a MEME ETF

Posted by radio1n1 — Tue, 21 Oct 2025 16:27 GMT

It's been a wild two days for Beyond Meat investors, with shares jumping over 146% after falling to a record low earlier this month. On Tuesday, the battered plant-based meat company said it will expand its distribution deal with Walmart, the nation's biggest retailer. "At a time when many households are navigating rising food prices, we're pleased to introduce our new Beyond Burger value pack - the same great-tasting burger at a lower price point, delivering 21g of protein, no cholesterol, and only 2g of saturated fat from heart-healthy1 avocado oil per serving" said Ethan Brown, founder and CEO of Beyond Meat. The deal also includes Beyond Chicken Pieces and Beyond Steak Korean BBQ-Style. Ahead of the Walmart announcement, the company recently disclosed a debt swap deal which reduced company debt but diluted the share count, Barron's reporting TD Cowen saying "the company remains financially and operationally challenged." Beyond Meat shares traded below $1.00. THE ETF REPORT: LATEST NEWS AND ANALYSIS In addition, on Monday, shares were added to Roundhill Investments' MEME exchange-traded fund which launched earlier this month, as reported by FOX Business. MEME STOCK MANIA 2.0 The ETF tracks stocks that can experience heavy trading from retail investors when there may not be concrete news. "New Addition Alert: Beyond Meat $BYND has been added to the Roundhill Meme Stock ETF $MEME" the firm posted on X. BLACKROCK'S BRAGGING RIGHTS TO FASTEST-GROWING ETFS The firm advised that investors can use the ETF "whether as a momentum-driven trade for those seeking to ride retail enthusiasm, or as a hedge against a short book," which are bets a stock will fall. GET FOX BUSINESS ON THE GO BY CLICKING HERE MEME includes a new crop of speculative stocks; Opendoor Technologies, Plug Power, Applied Digital Corp, Hims & Hers Health, Quantum Computing and Bloom Energy, to name a few. via: https://www.foxbusiness.com/markets/beyond-meat-walmart-meme-etf

Chicago mayor proposes reviving tax that has businesses sounding the alarm

Posted by radio1n1 — Tue, 21 Oct 2025 15:28 GMT

Chicago Mayor Brandon Johnson is proposing the revival of a corporate tax that the Windy City eliminated over a decade ago that businesses are warning would cost the city jobs. Johnson is proposing a so-called "head tax" that would apply to companies with more than 100 employees and would levy a monthly $21 per employee on companies that meet the employment threshold. The amount of the tax would increase based on inflation, and would be assessed based on the number of employees who work in Chicago 50% or more of the time. The mayor sees it as a means of reducing Chicago's $1.2 billion budget shortfall, and the city estimates it would raise $100 million annually. BILLIONAIRE KEN GRIFFIN SAYS CITADEL'S CHICAGO EXODUS WAS 'NOT HARD,' CITES CRIME, TAXES Chicago had a head tax in place from 1973 to 2014, raising an average of $20 million in tax revenue over that period. The tax amount was $4 per head for companies with over 50 employees - though it dropped to $2 in 2012 when the phaseout of the tax began under Mayor Rahm Emanuel. Illinois Restaurant Association President Sam Toia told FOX Business Network's Kelly Saberi that the head tax would be a "job killer." "I used to say before the pandemic, restaurants used to work on nickels and dimes. Now they work on pennies and nickels, and if we have this job-killer head tax, it's going to kill jobs, and we're not going to see the restaurant industry grow here in the city of Chicago," Toia said. SOCIALIST-LEANING CANDIDATES GAIN GROUND IN US CITIES AS BUSINESS BACKLASH GROWS Johnson is proposing a series of other taxes, including on cloud services, rideshare services in high-traffic zones, social media companies, online sports betting and yacht mooring to help raise revenue. The cloud tax, which is already in place and would rise from 11% to 14%, would raise an estimated $333 million in revenue annually. The rideshare tax would expand by adding a high-traffic zone and would raise a projected $230 million annually. GET FOX BUSINESS ON THE GO BY CLICKING HERE Chicago has seen several high-profile departures of businesses in recent years, including Ken Griffin's Citadel. Businesses that have moved their headquarters or significant portions of their operations out of Chicago include Boeing, Caterpillar, Guggenheim Partners, TTX and Tyson Foods. via: https://www.foxbusiness.com/politics/chicago-mayor-proposes-reviving-tax-has-businesses-sounding-alarm

AWS-type outages 'won't be the last,' and industry faces systemic risks, warns expert

Posted by radio1n1 — Tue, 21 Oct 2025 15:22 GMT

The massive Amazon Web Services (AWS) outage won't be the last, a leading tech expert has warned while urging a shift from "reactive firefighting" to proactive prevention. The outage, which began around 3 a.m. ET Oct. 20, disrupted a huge portion of the internet and caused widespread interruptions to websites and apps. The incident, traced back to DNS resolution problems within a core AWS service, affected major platforms including Snapchat, Fortnite, Canva, Coinbase, and Robinhood. By late Monday afternoon, AWS confirmed in a statement that services had been restored, attributing the root cause to internal subsystem monitoring on network load balancers. DISCORD CONFIRMS VENDOR BREACH EXPOSED USER IDS IN RANSOM PLOT Bob Wambach, Vice President of Product Portfolio at Dynatrace, told FOX Business the outage highlights an industry-wide challenge. "It's about moving from reactive firefighting to proactive prevention," he said. "Too many teams still rely on manual war rooms and guesswork during an incident." Wambach explained that digital ecosystems are becoming increasingly complex, spanning hybrid and multi-cloud environments, APIs, microservices, and AI-driven workloads, all of which introduce potential points of failure. MAJOR COMPANIES, INCLUDING GOOGLE AND DIOR, HIT BY MASSIVE SALESFORCE DATA BREACH "Modern IT environments are so interconnected that even small disruptions can cascade into massive outages," he said. "This isn't about companies being careless, but about the sheer complexity of today's systems." For Wambach, other outages like this one could end up lasting much longer. "The worst-case scenario is a systemic outage lasting hours or even days," he warned. "When critical services like payments, logistics, or healthcare are affected simultaneously, recovery can be slow and costly and impacts can quickly escalate into operational and regulatory crises." According to Wambach, traditional monitoring tools can no longer keep pace with this level of complexity. TRANSUNION BECOMES LATEST VICTIM IN MAJOR WAVE OF SALESFORCE-LINKED CYBERATTACKS, 4.4M AMERICANS AFFECTED "IT teams manage millions of dependencies across distributed systems," he said. "Each change or API call can trigger ripple effects, and traditional tools can't always explain why something broke or what it's affecting downstream." Dynatrace, Wambach's company, leverages AI and topology-aware data to automatically detect anomalies, identify root causes in real time, and even trigger automated fixes. "Observability gives organizations a causal map of their digital ecosystem," he said. "It allows teams to pinpoint vulnerabilities before they cause downtime and reduce repair time from hours to minutes." "Everyone suffers when major outages happen. Consumers lose trust instantly, and companies lose revenue, reputation, and loyalty with every passing minute," he said. "Over time, the gap will widen between companies that embrace AI-driven observability and those that don't. The former will be resilient, the latter will remain vulnerable," he concluded. FOX Business has reached out to AWS for comment. via: https://www.foxbusiness.com/fox-news-tech/aws-type-outages-wont-last-industry-faces-systemic-risks-warns-expert

Gas prices near $3 mark for first time in years

Posted by radio1n1 — Tue, 21 Oct 2025 13:33 GMT

Gas prices could drop to the $3 mark for the first time in four years as a swelling oil supply drives crude prices sharply lower, according to a recent analysis by AAA. The national average price for a gallon of gasoline dropped to $3.05 last week due to falling crude oil prices, lower gasoline demand and cheaper winter-blend gasoline at the pump, according to AAA. The last time the national average reached $3 per gallon was May 2021. As of Tuesday, West Texas Intermediate (WTI) futures are trading around $57 per barrel. A SECRET FLEET OF 'GHOST SHIPS' MOVING RUSSIA'S OIL COULD SOON ENTER TRUMP'S CROSSHAIRS Cheaper oil prices benefit consumers as crude makes up the largest portion of the cost of a gallon of gasoline. It currently accounts for 51% of the price of gas, according to the Energy Information Administration (EIA). AAA's report aligns with projections issued by the EIA in September, which anticipate the U.S. average retail price for regular-grade gasoline to be about $3.10 per gallon for the remainder of this year and $2.90 per gallon in 2026. Andy Lipow, president of Lipow Oil Associates, pointed to market fundamentals as the main driver, telling FOX Business that gasoline prices are tracking crude oil prices lower. INVESTORS FEAR BIG OIL COULD CUT SHARE BUYBACKS AS CRUDE PRICES SLUMP Lipow said that over the last two years, OPEC+ has been restoring its voluntary production cuts, adding supply to the market. At the same time, Lipow said domestic production has hit record levels of more than 13.6 million barrels per day with additional supplies coming out of Brazil, Guyana and Argentina. "The result is a glut," Lipow said. He cited the EIA's global oil supply estimates showing that supplies in 2025 are expected to grow by 3 million barrels per day while demand grows by only 700,000 barrels per day. GASOLINE'S BURDEN ON AMERICANS' WALLETS LIGHTEST SINCE 2005 "Oil prices have fallen dramatically over the last few weeks as the market sees a growing surplus accumulating on floating storage - that is tankers loaded with oil with nowhere to go," Lipow said, adding that China has been soaking up a lot of the surplus by filling its strategic storage at these low prices. Lipow expects the national average price of gasoline to hit $3 per gallon in the next week. GET FOX BUSINESS ON THE GO BY CLICKING HERE Phil Flynn, Price Futures Group senior analyst and FOX Business contributor, credited President Donald Trump's political relationship with OPEC for the member countries increasing oil production faster than originally planned. He also noted that reduced global tensions, specifically in the Middle East, are helping to reduce the price of oil. Instability in the region can influence oil markets, because traders often react to regional risk. via: https://www.foxbusiness.com/lifestyle/gas-prices-near-3-mark-first-time-years

China responds to US-Australia rare earths deal

Posted by radio1n1 — Tue, 21 Oct 2025 11:36 GMT

The agreement between the U.S. and Australia to partner on developing supplies of rare earths and critical minerals amid trade tensions with China, the world's leading supplier, prompted a response from the Chinese government. The U.S.-Australia deal was signed by President Donald Trump and Australian Prime Minister Anthony Albanese on Monday at the White House after China announced export controls on rare earths earlier this month. "The global industrial and supply chains came into shape as a result of the choices of the market and businesses," Chinese Embassy spokesperson Liu Pengyu told FOX Business in a statement. "Countries with mineral resources need to play a positive role in keeping relevant industrial and supply chains safe and stable and to ensure normal trade and economic cooperation," he added. TRUMP, AUSTRALIAN PM SIGN $8.5B CRITICAL MINERALS DEAL TO COUNTER CHINA DOMINANCE IN RARE EARTHS Rare earths are used in a range of applications and are a critical component in consumer-oriented devices like smartphones and electric vehicle batteries, and are also used in military equipment like radars and cruise missiles. China is the world's leading producer of rare earths and has the largest reserves, according to a report by the U.S. Geological Survey (USGS). MAJOR US STEELMAKER PIVOTS TO RARE EARTH MINERALS AS CHINA TIGHTENS GRIP The USGS found that in 2024, China's mines produced 270,000 tons of rare earths and the country has 44 million tons of reserves. By comparison, the U.S. produced 45,000 tons of rare earths and had 1.9 million tons of reserves, while Australia produced 13,000 tons and had 5.7 million tons of reserves. TRUMP APPROVES ALASKA PROJECT FOR MINING CRITICAL MINERALS: WHAT IS THE ECONOMIC IMPORTANCE? According to a document outlining the agreement released by the White House, the U.S. and Australia each committed to invest $1 billion over the next six months in mining and processing projects, as well as to set a minimum price floor for critical minerals. The two countries also agreed to cut permitting for mines, processing facilities and related operations to boost production of rare earths and critical minerals. GET FOX BUSINESS ON THE GO BY CLICKING HERE The deal also calls for cooperation between the U.S. and Australia on mapping geological resources, mineral recycling and efforts to stop the sale of critical mineral assets on national security grounds. via: https://www.foxbusiness.com/politics/china-responds-us-australia-rare-earths-deal

Egg recall over salmonella concerns expands

Posted by radio1n1 — Tue, 21 Oct 2025 11:22 GMT

Black Sheep Egg Company recalled several cartons of its free-range large grade A brown eggs due to the potential that they may be contaminated by salmonella, federal health officials said. Black Sheep Egg Company initiated a recall following a Food and Drug Administration (FDA) inspection that found 40 environmental samples at its egg processing facility tested positive for salmonella. Some of the strains found "are known to cause human illness," the FDA said. However, the FDA said there isn't information available at this time to suggest that this firm is the source of an ongoing outbreak. BEN'S ORIGINAL RICE PRODUCTS RECALLED NATIONWIDE OVER POTENTIAL INJURY RISK Aside from Black Sheep Egg Company's recall, the FDA is issuing an alert to recommend that consumers, retailers and distributors not eat, sell or serve the recalled Black Sheep Egg Company products. SPINACH RECALLED AFTER BATCH TESTS POSITIVE FOR POTENTIALLY HARMFUL BACTERIA The company's 12- and 18-count cartons with "best by" dates of Aug. 22, 2025, through Oct. 31, 2025, were impacted by the recall. The Arkansas-based egg producer also distributed eggs to other companies in Arkansas and Missouri between July 9, 2025, and Sept. 17, 2025, that may have repackaged them, according to the FDA. Federal officials say products may have also been further distributed to other states. Any additional products impacted by this recall will be added to this advisory as information becomes available. PRESSURE COOKERS SOLD AT MAJOR GROCERY CHAIN RECALLED AFTER CUSTOMERS SUFFER SEVERE BURNS One affected company, Texas-based Kenz Henz, recalled its 12-count packages of its "Grade AA Large Pasture Raised Eggs" last week because the products were supplied by Black Sheep Egg Company and could be contaminated with salmonella. Those recalled "12-Count Pasture Raised eggs" were sold in retail stores in Houston. GET FOX BUSINESS ON THE GO BY CLICKING HERE via: https://www.foxbusiness.com/lifestyle/egg-recall-over-salmonella-concerns-expands

Johnson accuses Democrats of prolonging government shutdown over being 'afraid' of far-left

Posted by radio1n1 — Tue, 21 Oct 2025 10:31 GMT

With little sign of the federal government shutdown ending anytime soon, House Speaker Mike Johnson, R-La., says partisan gridlock is to blame. "This is the first time in history that any party has chosen to shut the government down over a clean [continuing resolution]. They're playing a game, and it's very simple," Johnson said Tuesday on "Mornings with Maria." "Here's the reason why Chuck Schumer and Hakeem Jeffries, the two leaders in both chambers for the Democrat side, are afraid of their far-left flank - they're afraid they're going to get a challenge in New York because Marxism is all the rage, and they're going to lose their seats," he continued. "So they're putting up a fight. It makes no sense. And real people are getting hurt." PREDICTION MARKETS SIGNAL GOVERNMENT SHUTDOWN MAY LAST INTO MID-NOVEMBER The U.S. government has entered the third week of a federal shutdown, as the Trump administration and congressional Republicans remain at odds with Democrats over healthcare subsidies, Fox News reported. President Donald Trump has placed the blame squarely on Democrats for the shutdown that has triggered thousands of federal layoffs, frozen billions in infrastructure funding and rippled through local economies nationwide. Last Thursday, senators failed for the 10th time to break the impasse, leaving the government shutdown unresolved. Meanwhile, the House has been adjourned since Sept. 19 and is not expected to reconvene until the shutdown ends. "It was over a month ago that the House did our job, and we passed a clean continuing resolution - a totally nonpartisan, 24-page, very simple piece of legislation to just keep the lights on," Johnson said. Johnson accused Democrats of pushing what he called a "dirty" resolution, claiming it would add more than a trillion dollars in new spending, including $200 billion for healthcare benefits for illegal immigrants and funding for public broadcasting and foreign aid. Johnson also confirmed that President Trump is directly involved in talks for a way out of the government shutdown. GET FOX BUSINESS ON THE GO BY CLICKING HERE "The president and I, and Leader [John] Thune, sat down with Chuck Schumer ... and Hakeem Jeffries ... before this all began back in September. And the president himself pleaded with those two leaders, 'Please, guys, give us the votes. Don't shut the government down,'" Johnson said. Johnson added that a handful of Democrats have crossed the aisle to support the GOP proposal, but not enough to end the stalemate. "We have three Democrats ... that have voted with the Republicans because they don't want to inflict pain on the American people. But we need five more to step forward and do the right thing. That's the impasse," he added. "There's nothing more that we can do on the Republican side other than offer exactly what the continuing resolution presents." READ MORE FROM FOX BUSINESS Fox News' Amanda Macias contributed to this report. via: https://www.foxbusiness.com/media/johnson-accuses-democrats-prolonging-government-shutdown-over-being-afraid-far-left

CNN parent Warner Bros Discovery open to sale, says it has interest from multiple suitors

Posted by radio1n1 — Tue, 21 Oct 2025 10:13 GMT

Warner Bros. Discovery, which counts CNN and HBO among its assets, announced Tuesday it is for sale amid interest from several suitors. The company previously announced plans to separate Warner Bros. and Discovery Global into two companies but announced that "unsolicited interest" from multiple parties for both the entire company and Warner Bros. gave the board of directors something to think about. "After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets," Chief Executive David Zaslav said in a statement Tuesday morning. CNN MORALE 'REALLY GRIM' AS NETWORK FACES UNCERTAIN FUTURE WITH CORPORATE SPLIT, STAFFERS WARN Board of Directors chair Samuel A. Di Piazza, Jr. added, "Our decision to initiate this review underscores the Board's commitment to considering all opportunities to determine the best value for our shareholders." Warner Bros. Discovery announced in June that the company was splitting the studio from its cable networks. The spinoff company, Discovery Global Networks, included CNN, TBS and TNT. The plan was for Zaslav to lead the streaming and studios business after the split, while CFO Gunnar Wiedenfels would lead the global networks unit. "We took the bold step of preparing to separate the Company into two distinct, leading media companies, Warner Bros. and Discovery Global, because we strongly believed this was the best path forward," Zaslav said on Tuesday. "It's no surprise that the significant value of our portfolio is receiving increased recognition by others in the market." The company's shares jumped 9 percent following the announcement. PARAMOUNT SKYDANCE PREPPING BID TO BUY WARNER BROS. DISCOVERY: REPORT Warner Bros. Discovery will evaluate "a broad range of strategic options, which will include continuing to advance the Company's planned separation to completion by mid-2026, a transaction for the entire company, or separate transactions for its Warner Bros. and/or Discovery Global businesses" and will "consider an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders." Warner Bros. Discovery also noted there is "no deadline or definitive timetable set for completion of the strategic alternatives review process," and the company "does not intend to make any further announcements regarding the review of strategic alternatives unless and until the Board approves a specific transaction or otherwise determines further disclosure is appropriate or necessary." Zaslav oversaw the Time Warner-Discovery merger completed in April 2022, which combined media properties such as HBO, CNN, the Food Network, the Cartoon Network and Warner Bros. Studio. CNN LAUNCHING STREAMING SERVICE AGAIN, THREE YEARS AFTER FAILED CNN+ VENTURE Paramount Skydance has long been rumored to be interested in buying Warner Bros. Discovery. GET FOX BUSINESS ON THE GO BY CLICKING HERE Fox News Digital's Joseph A. Wulfsohn and Eric Revell contributed to this report. via: https://www.foxbusiness.com/media/cnn-parent-warner-bros-discovery-open-sale-says-has-interest-from-multiple-suitors

Disney announces major plans to commemorate America's 250th anniversary

Posted by radio1n1 — Tue, 21 Oct 2025 09:50 GMT

Disney plans to show off the red, white and blue in a major way as America approaches its 250th birthday. "Disney Celebrates America" is a company-wide celebration beginning on Veterans Day and going through Independence Day weekend, the company announced. Along with special programming, storytelling and experiences, "Soarin' Across America" will debut at both Walt Disney World in Orlando, Fla., and Disneyland in Anaheim, Caif., by next summer. The "immersive new flight experience" in Disney California Adventure Park and EPCOT "will take guests on a breathtaking journey, highlighting some of the country's natural beauty and iconic cityscapes," a Disney press release said. SPIRIT OF SERVICE LIVES ON 70 YEARS AFTER VETERANS BUILT ORIGINAL DISNEY PARK "At its heart, America's story is one of imagination, ambition, and possibility - the same ideals that have guided Disney since the beginning," Robert A. Iger, Chief Executive Officer of The Walt Disney Company, said in a statement. DISNEY'S MAGIC KINGDOM HONORS 100-YEAR-OLD WWII VETERAN DURING FLAG RETREAT CEREMONY "This celebration honors both a nation and a spirit that never stop dreaming about what's next," Iger added. Disney Consumer Products has been releasing military-inspired assortments at select locations in the parks, and in May, "an array of Americana merchandise" will be available to purchase both in parks and at DisneyStore.com. DISNEY CELEBRATES MAJOR MILESTONE WHILE SHOWCASING IMPACT ON US ECONOMY CLICK HERE TO READ MORE ON FOX BUSINESS Disney is also donating $2.5 million to the nonprofit organization Blue Star Families, which, according to its website, empowers "military families to thrive by connecting them with their civilian neighbors - both people and organizations - to create strong communities of support." via: https://www.foxbusiness.com/lifestyle/disney-announces-major-plans-commemorate-americas-250th-anniversary

NFL legend Drew Brees announces major flag football partnership with Unrivaled Sports

Posted by radio1n1 — Tue, 21 Oct 2025 08:41 GMT

Flag football is one of the fastest-growing sports in the United States, and an NFL legend continues to help that growth with an important partnership announced Tuesday. Drew Brees, the New Orleans Saints legend, and his Football 'N' America (FNA) youth flag football league have partnered with Unrivaled Sports, the nation's leader in youth sports experiences, to continue elevating the game Brees credits his football foundation to. Brees and Chris Stuart founded FNA in 2017 with the design of making flag football fun, competitive and community-driven for boys and girls of all ages and skill sets. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM "I'm really excited," he told FOX Business over the phone about the partnership with Unrivaled Sports. "When we embarked on this back in 2017 and created FNA, it was really with the idea of creating the gold standard for flag football. I got three small boys who were getting into the sport. I had played flag football up until ninth grade. In fact, the first time I put on pads was in ninth grade - a lot of people don't know that. I really credit a lot of my development as a quarterback, understanding passing schemes and everything from flag football. "So, not only was I coming at it from someone who played the game, but someone who had kids who were wanting to play. Also, I coached all my kids including their friends all the way up until now they're high school football players, so kinda see it come full circle." BRONCOS' SEAN PAYTON TALKS OPPORTUNITY TO COACH TOM BRADY IN INTERNATIONAL FLAG FOOTBALL TOURNAMENT Unrivaled Flag has the same ambitions as FNA, and they are ready to bring their vast resources to the table to help expand leagues nationwide through new operators and communities, while connecting them to Unrivaled Flag's programming, including High School Girls Nationals, The Gold Jacket Classic and the Youth Flag World Championships. "We're proud to work with Drew and the FNA team to create amazing athlete experiences and define the standard for the sport as flag continues to grow and gain popularity with girls and boys across the country," Jim Reynolds, CEO of Unrivaled Flag, said in a statement. "We're inspired by the momentum surrounding flag football as it heads to the global stage in 2028, and proud to help lead the charge in the youth space." As Reynolds mentions, flag football will be an Olympic sport in Los Angeles come 2028, and there's already massive buzz surrounding what's expected to be a thrilling part of the Games. Brees has witnessed first-hand how much impact American football has around the globe given his time in the NFL and his knowledge of their international games. But having been an analyst for Netflix's international broadcast of the Christmas Day football game last season, he saw the millions of viewers who tuned in to not only watch the game, but also ask him and NFL RedZone host Scott Hanson questions about the game. "The amount of viewership was insane and just the reach," Brees said about that broadcast. "So, that was really eye-opening to me to see how many people around the world are interested in American football." When it comes to the game itself, Brees believes flag football is a "gateway sport," giving kids the opportunity to learn so many different things they can take into other sports as well as everyday life. "Back in the day, you might say the first thing you put your kids in was soccer. But I think in so many cases now, I see young kids playing flag football for the first time at five, six, seven years old and that's really their introduction to sports," Breese said. "I see a ton of girls doing it as well, which has never been the case. We're at a time where flag football is becoming a gateway sport for so many kids." GET FOX BUSINESS ON THE GO BY CLICKING HERE With a collective determination and drive to continue impacting kids and communities nationwide, Unrivaled Sports and FNA are ready to work in tandem to impact the future of flag football and youth sports in general. "The partnership with Unrivaled just adds fuel to the fire because of the leadership at Unrivaled, the access to incredible resources," Brees said. "They manage some incredible facilities around the country that are going to be host to some really signature events when it comes to tournament series across our flag football leagues. And then just really cool experiential events around flag football that I think currently exist in other sports but don't exist yet in flag football. We have the chance to be pioneers around that in a lot of years." Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter. via: https://www.foxbusiness.com/sports/nfl-legend-drew-brees-announces-major-flag-football-partnership-unrivaled-sports

Surging tariff revenues set the stage for Trump's Supreme Court showdown

Posted by radio1n1 — Tue, 21 Oct 2025 08:38 GMT

As tariff revenues surge under his administration, President Donald Trump is weighing an unprecedented appearance at the Supreme Court for next month's oral arguments in a case that could define the future of his trade agenda. His potential presence, which would mark the first time a sitting president has witnessed Supreme Court proceedings in person, underscores how import duties have become a cornerstone of Trump's economic strategy and a defining feature of his presidency. TRUMP TARIFFS HAUL OVER $200B IN REVENUES AS SUPREME COURT WEIGHS CHALLENGE TO LEGALITY That emphasis has been reflected in the data: Treasury Department figures show tariff collections have climbed to record levels, surpassing those under former President Joe Biden. Tariff revenues rose steadily from $17.4 billion in April to $23.9 billion in May, before climbing to $28 billion in June and reaching $29 billion in July. That momentum continued through August and September, when the government collected back-to-back record-breaking monthly revenues totaling $62.6 billion. BESSENT DEFENDS TRUMP'S TARIFFS AGAINST CLAIMS THEY HARM US BUSINESSES For the full fiscal year 2025, total duty revenue reached $215.2 billion, according to the Treasury's "Customs and Certain Excise Taxes" report released on Sept. 30. American businesses pay these import taxes directly to the federal government, but they often pass the cost along by raising prices, meaning consumers ultimately shoulder much of the burden. Trump continues to defend his reliance on tariffs as a way to counter what he sees as decades of unfair trade practices, an approach that underscores how deeply trade has been woven into his broader economic agenda. TRUMP SAYS US HAS BEEN 'THE KING OF BEING SCREWED' BY TRADE IMBALANCE "Tariffs have been used against the United States for years," Trump said on Fox News' "Sunday Morning Futures." "It would always bother me so much, I'd look, and I'd say how can they allow this to happen to our country? We lost 55% of our automobile business because of the fact that we didn't use tariffs. If we used tariffs we wouldn't have lost anything." CLICK HERE TO GET FOX BUSINESS ON THE GO Trump said his administration does not currently have a fallback plan should the Supreme Court invalidate his tariff policy. "I'll have to figure something out. I don't even want to think about it," he said. via: https://www.foxbusiness.com/politics/surging-tariff-revenues-set-stage-trumps-supreme-court-showdown

US businesses and consumers shoulder the bulk of tariff cost burden, Goldman Sachs finds

Posted by radio1n1 — Tue, 21 Oct 2025 07:00 GMT

A new analysis breaking down the passthrough of tariff costs finds that U.S. businesses and consumers are shouldering the majority of the cost at this point, rather than foreign exporters. Goldman Sachs economists estimated that as of August, U.S. businesses were absorbing a net 51% of tariff costs, while American consumers were shouldering 37% of the burden. They also estimated that 9% of the cost was paid by foreign exporters, and about 3% was attributed to potential tariff evasion. "Our analysis suggests that at the moment, U.S. businesses are bearing the largest share of the tariff costs because some tariffs have only recently gone into effect and it takes time to raise prices on consumers and negotiate lower import prices with foreign suppliers," the Goldman economists wrote. The report went on to note that if the newly implemented and future tariffs end up having the same price impact as those that have taken effect so far, then American consumers will eventually be absorbing the majority of costs. FED PRESIDENT WARNS INFLATION IS 'GOING THE WRONG WAY' AS TARIFF CONCERNS MOUNT Goldman's economists assessed that by the end of 2025, U.S. consumers will be absorbing 55% of tariff costs, while 22% will fall on U.S. businesses, 18% on foreign exporters and 5% on potential tariff evasion. "Our 22% estimate for U.S. businesses is modest because it is a net impact - companies that use or sell imported goods will bear a larger share of tariff costs, while domestic producers that are shielded from foreign competition by tariffs will be able to raise their own prices and increase their margins," the economists wrote. FED'S FAVORED INFLATION GAUGE SHOWS CONSUMER PRICES REMAINED ELEVATED IN AUGUST The Goldman Sachs report also estimated that tariffs have pushed inflation higher by nearly half a percentage point so far this year and the trend is expected to continue in the months ahead. The analysis found that core personal consumption expenditure (PCE) prices have increased 0.44 percentage points this year and that with the passthrough of tariff costs expected to rise from 55% to 70%, core PCE inflation is expected to rise an additional 0.6 percentage points. As a result, the analysis sees core PCE inflation at 3% year over year in December 2025, or 2.2% net of tariff effects. In December 2026, economists estimated core PCE inflation will be 2.4%, or 2% net of tariff effects. FED'S MIRAN DOWNPLAYS IMPACT OF TRUMP'S TARIFFS ON GROWTH, INFLATION Federal Reserve policymakers have observed an uptick in inflation this year as tariff costs began affecting the economy and consumer prices, with PCE inflation at 2.7% and core PCE at 2.9% as of August. Those figures are well above the Fed's 2% target and concern over the inflationary impact of tariffs on the data caused policymakers to refrain from cutting interest rates for much of the year, as they proceeded with a 25-basis-point cut in September amid signs of a weakening labor market. GET FOX BUSINESS ON THE GO BY CLICKING HERE The central bank is expected to cut interest rates by another 25 basis points at its meeting next week, as uncertainty about economic conditions lingers. via: https://www.foxbusiness.com/economy/us-businesses-consumers-shoulder-bulk-tariff-cost-burden-goldman-sachs-finds

Charlie Kirk assassination drives jump in Bible sales

Posted by radio1n1 — Tue, 21 Oct 2025 06:38 GMT

Bible sales spiked in the month of September, following the assassination of Charlie Kirk, according to a report. The 2.4 million copies sold in the U.S. this September was a 36% jump from the same month last year, according to the Wall Street Journal, which cited data from book sales tracking system Circana BookScan. "September brought a wave of troubling events-violence, geopolitical tensions and economic uncertainty-underscoring a pattern: In times of crisis, more people turn to faith for comfort and support," Brenna Connor, an analyst at Circana BookScan, told the newspaper. Kirk, a devout Christian, was open about his religious convictions, advocating for abstinence and defending traditional marriage. BIBLE BELT PASTORS ON HOW KIRK'S ASSASSINATION PROMPTED AMERICANS TO RETURN TO CHURCH The Presidential Medal of Freedom, the highest civilian award in the U.S., was awarded posthumously to Charlie Kirk by President Donald Trump on Oct. 14, 2025, a date that would have been Kirk's 32nd birthday. Erika Kirk accepted the award on her husband's behalf at a ceremony in the Rose Garden at the White House. She also delivered remarks highlighting her husband's beliefs and sacrifice. TPUSA SPOX HOPES TO HARNESS REVIVAL MOMENTUM AS CHURCH ATTENDANCE SOARS FOLLOWING CHARLIE KIRK'S ASSASSINATION That same day, Turning Point USA (TPUSA) posted "31 Ways to Live Like Charlie Kirk" on X to honor the organization's late founder on his birthday. Some of the ways Kirk lived that the organization promoted are "honor the Sabbath," "journal every day," "get married" and "read your Bible every day." GET FOX BUSINESS ON THE GO BY CLICKING HERE Kirk was assassinated on September 10, 2025, while speaking at a TPUSA event at Utah Valley State University in Orem, Utah. Fox News Digital's Emma Bussey and Joshua Q. Nelson contributed to this report. via: https://www.foxbusiness.com/economy/charlie-kirk-assassination-drives-jump-bible-sales

South Korea's crackdown on US tech giants could cost $1T, report warns

Posted by radio1n1 — Tue, 21 Oct 2025 05:01 GMT

FIRST ON FOX: A new study says South Korea's strict competition rules aimed at U.S. tech firms could cost both countries nearly $1 trillion in lost economic growth over 10 years. Research by the Competere Foundation, a nonprofit that educates policymakers on non-tariff barriers affecting global GDP, estimates that U.S. companies could lose $525 billion, while South Korean small businesses stand to lose about $469 billion. TRUMP URGED TO TAKE ON SOUTH KOREA OVER TECH REGULATIONS THAT TARGET US, SPARE CHINA The report points to aggressive enforcement by Korea's Fair Trade Commission (KFTC), saying it unfairly limits U.S. tech firms and discourages foreign investment. "Ironically, while Korean officials are working to prevent U.S. companies like Apple, Coupang, Google and Microsoft from operating freely, our research shows Korea itself will lose an estimated $469 billion over ten years, including significant damage to the country's small businesses," said Shanker Singham, president of the Competere Foundation, in a statement to FOX Business. He cautioned that Korea's approach could have broader diplomatic and trade implications, underscoring the need for stronger U.S. engagement. NEW SOUTH KOREA LAW SEEN SHIELDING CHINA, TARGETING US TECH, RISKING TRADE CLASH "Not only are Korea's actions harming America's economy, but they're also aggravating trade tensions. If the Trump administration resolves this, it will give President Donald Trump a unique chance to deliver a huge economic win for American families without spending a dime," Singham added. The report also cautions that smaller Korean businesses will bear the brunt of reduced foreign investment. It urges both governments, currently negotiating a trade deal, to prioritize regulatory reform to safeguard growth and strengthen U.S.-South Korea economic ties. TRUMP ISSUES ULTIMATUM, THREATENING TARIFFS OVER DIGITAL TAXES AND REGULATIONS Henry Haggard, former minister counselor for political affairs at the U.S. Embassy in Seoul, agreed that Korea's regulatory approach risks backfiring. "These actions by Korean officials are stalling the ability of U.S. companies to operate freely and disincentivizing them from investing in South Korea," Haggard told FOX Business. "An unwelcoming investment environment could make the trade negotiations more complex and potentially more confrontational." CLICK HERE TO GET FOX BUSINESS ON THE GO He warned that some U.S. firms may scale back operations in South Korea, halt future investments or exit the market altogether. "This is leaving an opening for Chinese companies to gain a competitive advantage that are less deterred by irregular enforcement of rules and regulations. That's bad for America and bad for national security," Haggard added. The U.S. Embassy in South Korea did not immediately respond to FOX Business' request for comment. via: https://www.foxbusiness.com/politics/south-koreas-crackdown-us-tech-giants-could-cost-1t-report-warns

US doubles down on Trump admin push to rebuild industrial base amid China pressure

Posted by radio1n1 — Tue, 21 Oct 2025 03:13 GMT

The United States is pushing back against what it regards as China's latest attempt to intimidate foreign firms investing in America's industrial revival. In a fiery statement issued Monday, U.S. Trade Representative Jamieson Greer accused Beijing of launching "retaliatory actions" aimed at discouraging private companies from supporting U.S. manufacturing - particularly in shipbuilding and other critical sectors. "China's recent retaliatory actions against private companies across the globe are part of a broader pattern of economic coercion to influence American politics and control global supply chains by discouraging foreign companies from investing in America's shipbuilding and other critical industries," Greer said. The ambassador added that China's intimidation efforts and targeting of "critical industrial sectors for dominance" will not deter the U.S. from reviving its shipbuilding base. TRUMP ADMIN SLAMS CHINA'S 'GLOBAL POWER GRAB' ON RARE EARTHS, THREATENS TRIPLE-DIGIT TARIFFS "We remain committed to defending our companies, securing supply chains, and encouraging allied investment in America's industrial future," Greer said. Greer's statement follows a series of moves by the Trump administration to strengthen U.S. and allied control over strategic resources. Earlier this week, President Trump and Australian Prime Minister Anthony Albanese announced an $8.5 billion partnership to expand rare earth and critical mineral production - part of a joint effort to reduce dependence on Chinese suppliers. TRUMP, AUSTRALIAN PM SIGN $8.5B CRITICAL MINERALS DEAL TO COUNTER CHINA DOMINANCE IN RARE EARTHS Under the deal, Washington and Canberra will jointly invest billions in mining and processing projects while streamlining permitting and setting price floors to stabilize supply. The agreement also limits the sale of strategic mineral assets to potential adversaries and promotes recycling and mapping of geological reserves. The move marks one of the largest cooperative industrial initiatives between the two allies in years and is widely viewed as a direct response to Beijing's tightening control over rare earth exports. The White House's push to secure critical minerals has already begun reshaping U.S. industrial strategy, prompting major firms to revisit domestic mining opportunities. Cleveland-Cliffs, a major Ohio-based steelmaker, recently announced plans to extract rare earth elements from its mining sites in Michigan and Minnesota. Chief Executive Lourenco Goncalves said the company has an "obligation" to help reduce America's dependence on China for critical materials used in everything from smartphones to defense systems. TRUMP TARIFF GAMBLE FACES TEST AS CHINA HALTS MINERAL EXPORTS "American manufacturing shouldn't rely on China or any foreign nation for essential minerals, and Cliffs intends to be part of the solution," Goncalves said during an earnings call. The initiative aligns with the administration's broader effort to rebuild domestic supply chains and ensure the U.S. retains control of inputs vital to national security. The renewed focus on critical minerals comes amid escalating economic tensions between Washington and Beijing. President Trump has warned of "massive" tariffs if China continues restricting exports of rare earths - materials essential for electric vehicles, consumer electronics, and missile guidance systems. CLICK HERE TO GET THE FOX BUSINESS ON THE GO Beijing's export curbs have drawn sharp condemnation from U.S. officials, who describe them as an attempt to weaponize global supply chains and pressure companies to steer clear of American markets. FOX Business' Eric Revell and Reuters contributed to this report. via: https://www.foxbusiness.com/economy/us-doubles-down-trump-admin-push-rebuild-industrial-base-amid-china-pressure

Trump administration agrees to speed up student loan forgiveness under new court deal

Posted by radio1n1 — Mon, 20 Oct 2025 20:16 GMT

In a significant win for student loan borrowers, the Trump administration has agreed to a court-supervised plan that will speed up debt cancellation under income-driven repayment programs and protect borrowers from unexpected tax bills next year. The administration and the American Federation of Teachers (AFT) reached the agreement Friday in the AFT v. U.S. Department of Education case, resolving months of legal tension over the government's obligation to cancel student debt for borrowers who have made decades of payments under federal law. The AFT said in a statement that the deal - now awaiting court approval - requires the Education Department to follow through on debt forgiveness for eligible borrowers in 2025 and ensures they won't face a surprise tax hit because of bureaucratic delays. "For nearly a decade, the AFT has fought for the rights of student loan borrowers to be freed from the shackles of unjust debt-and today, a huge part of that affordability fight was vindicated," AFT President Randi Weingarten said. "This year, we took on the Trump administration when it refused to follow the law and denied borrowers the relief they were owed. STUDENT LOAN DELINQUENCY RATES HIGHEST IN 21 YEARS AS COVID MORATORIUM FADES AWAY "Our agreement means that those borrowers stuck in limbo can either get immediate relief or finally see a light at the end of the tunnel. And, crucially, they won't ever get taxed on that relief," Weingarten continued. "The AFT will hold the federal government to its word, and we won't stop fighting until college is affordable and taking out a student loan doesn't trap millions of Americans in a ruinous and exploitative debt cycle." According to the filing, the administration must cancel student debt for all eligible borrowers enrolled in income-driven repayment, income-contingent repayment, Pay As You Earn, and Public Service Loan Forgiveness (PSLF) programs. Borrowers who make payments after becoming eligible for cancellation will be reimbursed. The Education Department must also process IDR and PSLF "buyback" applications, including those from borrowers no longer required to prove financial hardship. Borrowers whose loans are canceled on or before Dec. 31, 2025, will not receive IRS forms treating the forgiven balances as taxable income. TRUMP ADMIN RESUMING INTEREST CHARGES FOR NEARLY 8M STUDENT LOAN BORROWERS AFTER BIDEN'S LIMBO Additionally, the administration must file six monthly progress reports with the court to show the pace of application processing and loan discharges, the AFT said. The union said the deal also tackles what it called a looming "tax bomb" stemming from a 2026 change in federal tax law that will treat canceled debt as income. Without this agreement, borrowers whose loans should be wiped out in 2025 could have been penalized simply because of government slowdowns. "This is a tremendous win for borrowers," Winston Berkman-Breen, the legal director for Protect Borrowers, said. "With today's filing, borrowers can rest a little easier knowing that they won't be unjustly hit with a tax bill once their student loans are finally canceled, pursuant to federal law. STUDENT LOAN DELINQUENCIES TANK CREDIT SCORES FOR MILLIONS OF BORROWERS: HOW TO RECOVER "The U.S. Department of Education has agreed to follow the law and deliver congressionally mandated affordable payments and debt relief to hard-working public service workers across the country, and will do so under court supervision," Berkman-Breen added. "We fully intend to hold them to their word." FOX Business has reached out to the White House for comment. GET FOX BUSINESS ON THE GO BY CLICKING HERE The AFT and several individual borrowers filed the lawsuit in March 2025 after the administration removed IDR enrollment applications from federal websites and quietly instructed loan servicers to stop processing them. The government later resumed accepting and handling applications but had not publicly committed to canceling debt until now. The joint status report filed Friday is awaiting court approval. via: https://www.foxbusiness.com/politics/trump-administration-agrees-speed-up-student-loan-forgiveness-under-new-court-deal

Trump, Australian PM sign $8.5B critical minerals deal to counter China dominance in rare earths

Posted by radio1n1 — Mon, 20 Oct 2025 14:47 GMT

President Donald Trump and Australian Prime Minister Anthony Albanese on Monday signed an agreement on rare earths and critical minerals as the two allies look to stabilize global supplies amid China's efforts to clamp down on its control over the market. Trump and Albanese met at the White House for their first summit and Trump said the deal was negotiated over the past four or five months ahead of the announcement. Albanese said it's an $8.5 billion pipeline "that we have ready to go." Reuters reported that, according to a copy of the agreement provided by the prime minister's office, the two countries agreed to each invest $1 billion over the next six months into mining and processing projects, as well as set a minimum price floor for critical minerals. "In about a year from now, we'll have so much critical mineral and rare earths that you won't know what to do with them," Trump told reporters at the event. MAJOR US STEELMAKER PIVOTS TO RARE EARTH MINERALS AS CHINA TIGHTENS GRIP As part of the agreement, Trump and Albanese agreed to cut permitting for mines, processing facilities and related operations to boost production of rare earths and critical minerals. The deal also calls for cooperation between the U.S. and Australia on mapping geological resources, mineral recycling and efforts to stop the sale of critical mineral assets on national security grounds. Australia is open to selling shares of its planned strategic reserve of critical minerals to allies including Britain, according to a Reuters report from last month. The move comes as Western governments are looking to reduce their reliance on China for rare earths and critical minerals. TRUMP APPROVES ALASKA PROJECT FOR MINING CRITICAL MINERALS: WHAT IS THE ECONOMIC IMPORTANCE? The U.S. condemned China's recent move to implement export controls restricting sales of rare earths as a threat to global supply chains. China is the world's largest producer of critical materials, which are used in products ranging from smartphones to EV engines and military radars. The U.S. Geological Survey (USGS) reported in January that China's mines produced 270,000 tons of rare earths in 2024 and the country has 44 million tons of reserves. GET FOX BUSINESS ON THE GO BY CLICKING HERE By comparison, the U.S. produced 45,000 tons and had 1.9 million tons of reserves last year, while Australia produced 13,000 tons and had 5.7 million tons of reserves. Reuters contributed to this report. via: https://www.foxbusiness.com/economy/trump-australian-pm-sign-8-5b-critical-minerals-deal-counter-china-dominance-rare-earths