There is no word for climate change in Wayunaikki, the language of the Wayúu Indigenous Peoples of South America, but since the crisis is battering their communities, they may just have found a key to resilience: a humble bean.
https://www.globalissues.org/news/2024/10/26/38077 [Collection]
CALI, Columbia, Oct 26 (IPS) - At the end of the first week at the 16th Conference of Parties on Biodiversity (COP16), finance emerges as the biggest issue but also shrouded in controversies.
https://www.globalissues.org/news/2024/10/26/38076 [Collection]BOSTON, USA & CAPE TOWN, South Africa, Oct 25 (IPS) - At the 2021 UN Climate Summit, Barbados prime minister Mia Mottley called for more and better use of special drawing rights (SDRs), the International Monetary Fund's reserve asset.
https://www.globalissues.org/news/2024/10/25/38067 [Collection]UNITED NATIONS, Oct 25 (IPS) - With the emergence of generative artificial intelligence (AI) and social media, the dissemination of public information moves at a faster speed than ever before. Social media platforms have become an integral tool for users of younger generations to access the news. Although this shift has led to public news being more accessible to younger users, it has also led to an overall decline in media literacy.
Read the full story, “The Impact of Media Literacy for Meat Production”, on globalissues.org →
https://www.globalissues.org/news/2024/10/25/38068 [Collection]
COPENHAGEN & SRINAGAR, Oct 24 (IPS) - Anne Olhoff, Chief Climate Advisor at UNEP, underlined the urgent need for accelerated climate action ahead of COP29 in an exclusive interview with IPS. "The next six years are crucial—without accelerated action, we will miss the chance to limit warming to 1.5°C," she warned.
https://www.globalissues.org/news/2024/10/24/38066 [Collection]
COPENHAGEN, Oct 24 2024 (IPS) - The United Nations Environment Programme’s (UNEP) Emissions Gap Report 2024 delivered a stark reminder that the world is still far from meeting its climate commitments.
https://www.globalissues.org/news/2024/10/24/38065 [Collection]
COPENHAGEN, Oct 24 2024 (IPS) - The United Nations Environment Programme’s (UNEP) Emissions Gap Report 2024 delivered a stark reminder that the world is still far from meeting its climate commitments.
https://www.globalissues.org/news/2024/10/24/38065 [Collection]
CARACAS, Oct 24 (IPS) - Migration, trade, the defence of democracy, the confrontation with China and the collapse of multilateralism are issues that shed more doubts than certainties on Latin America's expectations of the imminent presidential elections in the United States.
https://www.globalissues.org/news/2024/10/24/38057 [Collection]If Trump is so bad, why are all these Democrats lining up to support him? That's the subject of the riff.
Kamala Harris takes a break from her basement campaign at the veep's residence in Washington DC to call an emergency presser in order to put out the utterly despicable smear comparing Donald Trump to Adolf Hitler. Utterly despicable! "Donald Trump is out for unchecked power. He wants a military like Adolf Hitler had, who will be loyal to him, not our Constitution," she says. Not only is the charge despicable, it's unproven.
It comes from a book written two years ago by The New York Times' Peter Baker and The New Yorker's Susan Glasser that quotes former Chief of Staff John Kelly, but while Kelly keeps repeating the charge, no one has been able to actually corroborate it.
AMAZON ALEXA GIVES STARKLY DIFFERENT ANSWERS WHEN ASKED WHY TO VOTE FOR TRUMP VERSUS KAMALA HARRIS
General Kelly is a tragic figure here, a patriotic retired Marine Corps general, who was dismissed by then-President Trump and has been a source of incredible vitriol at Mr. Trump ever since then. Tragically, General Kelly has completely lost his way. I was in the Oval Office hundreds of times, and never heard Mr. Trump talk about Hitler or Nazi generals. Writing in the New York Post, Miranda Devine says the left has put a target on Donald Trump's back with these Nazi Adolf Hitler smears.
In other words, Kamala could well be instigating yet another assassination attempt on Trump's life. Now, I'm going to bet virtually the entire country knows that in the final days of what looks to be a losing campaign, Kamala Harris is absolutely desperate, but desperation like this never pays off.
Ever since Mr. Trump walked down the escalator in Trump Tower over nine years ago, Democrats have called him every name in the book. They impeached him, then they impeached him again, he was never convicted.
They've tried to throw him in jail for 750 years. They've tried to bankrupt him. They've tried to throw him off the ballot, but all the weaponized lawfare cases have fallen apart on appeal. Russia, Russia, Russia was a lot of baloney financed by Hillary Clinton.
Now Kamala is calling him a fascist, comparing him to Hitler, and claiming he's "unhinged" and "unstable," but Trump is standing a lot taller than she is, right now.
In fact, his favorability has just surged over 50% in two recent polls from the Wall Street Journal and Gallup. Over 50%. He's never been over 50% before. What does that tell you? Since last August, Team Kamala has spent $625 million on broadcast, cable, radio and digital ads. Team Trump has only spent $378 million, according to the Wall Street Journal.
Kamala has gone down. Trump has gone up. Go figure! Negativity doesn't always work, even in politics. Trump is lengthening his lead on the issues.
According to the Journal poll he's now +12 on the economy, +15 on immigration, +15 on the Middle East, +9 on crime. Of course, he is. The country does not want to re-elect the Biden-Harris administration. Kamala can't talk issues because nobody likes her issues.
So, she calls pressers to throw mud at Trump, even though the mud's not sticking. By the way, fittingly, she didn't even answer questions from the press at her own press conference.
Finally, just consider this for a moment. Kamala is smearing Trump with Hitler, so what is she going to do about this growing gaggle of Democrats running for the Senate, who have favorably mentioned Trump in their own ads against Republicans? It's a laundry list: Sherrod Brown in Ohio, Bob Casey in Pennsylvania, Tammy Baldwin in Wisconsin, Elissa Slotkin in Michigan, Jon Tester in Montana.
They've all put Trump in their ads. These are positive – not negative – ads about Trump! Not to mention, by the way, the likes of Bobby Kennedy and Tulsi Gabbard standing just last night on stage embracing Trump. So, does that mean they're complicit with Kamala's Nazi smear?
GET FOX BUSINESS ON THE GO BY CLICKING HERE
With her fascist smear? With her Trump derangement syndrome personal hate campaign against Mr. Trump? Pretty soon half the Democrats running for the Senate are going to be backing Trump.
Now, I wouldn't necessarily believe them, but it's pretty clear they're not paying any attention to Kamala Harris, or her despicable smear campaign, which, like the weaponized lawfare jihad, has probably given voters even more reason to vote Trump. That's the riff.
This article is adapted from Larry Kudlow’s opening commentary on the Oct. 24, 2024, edition of "Kudlow."
https://www.foxbusiness.com/media/larry-kudlow-trump-so-bad-why-all-democrats-lining-up-support-himThe union representing 33,000 striking machinists at Boeing rejected the company's latest contract offer Wednesday evening, extending a strike that has strained aircraft production.
The International Association of Machinists and Aerospace Workers (IAM) has been on strike since Sept. 13 as they try to extract more concessions from Boeing in their next labor contract. Earlier this month, the IAM said Boeing offered a 35% wage hike over four years, a new incentive plan and a $7,000 ratification bonus, as well as improved retirement perks.
Late Wednesday night, the IAM's ratification vote failed as 64% of its members voted against agreeing to the contract. With the strike set to continue until a deal is reached, assembly lines at Boeing's West Coast facilities are nearly all idled, including production of its best-selling 737 Max, 767, 777/777X, P-8, KC-46A Tanker and E-7 Wedgetail.
"We have made tremendous gains in this agreement in many areas our members said were important to them. However, we have not achieved enough to meet our members' demands," IAM District 751 President Jon Holden said in remarks announcing the vote result.
BOEING CEO SAYS 'TRUST IN OUR COMPANY HAS ERODED,' CALLS FOR 'FUNDAMENTAL CULTURE CHANGE'
"This membership will continue to stand on the line, picketing for the contract they deserve. There is much more to do, and we will work to get back to the bargaining table," he added.
Boeing told FOX Business, "We are disappointed in the vote result."
BOEING STRIKE COSTLIEST IN ECONOMIC DAMAGE SO FAR IN 2024
Boeing said earlier this month that it will lay off 10% of its workforce, about 17,000 employees, to address financial challenges. The company has sought to shore up its finances by pursuing $35 billion in equity and debt financing.
Boeing CEO Kelly Ortberg said Wednesday in prepared remarks ahead of the company's quarterly earnings call that ending the IAM strike is the company's first and foremost priority, and that it is "feverishly working to find a solution" that works for the company and its employees.
He also noted that "restarting the factories and the supply chain" is "much harder to turn this on than it is to turn it off. So it's critical, absolutely critical, that we do this right. Our Safety and Quality Management Systems will guide us through the restart, and we have a detailed return-to-work plan in place and I'm really looking forward to getting everybody back and getting to work on that plan."
BOEING PLANS TO RAISE UP TO $35B TO SHORE UP FINANCES AS STRIKE CONTINUES
The Labor Department said Thursday that Acting Labor Secretary Julie Su is in contact with Boeing and the IAM following the union's rejection of the company's latest contract offer. Su met with the IAM and Boeing in Seattle last week in an effort to support the negotiations.
"Both parties will need to determine the best way forward," a Labor Department spokesperson said, adding that Su "is available to support them," according to a Reuters report.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Reuters contributed to this report.
https://www.foxbusiness.com/markets/machinists-union-rejects-boeing-contract-offer-extending-strikeYum! Brands is removing fresh onions from some of its Taco Bell, Pizza Hut and KFC locations as government health agencies continue to investigate the source of an E. coli outbreak linked to McDonald's Quarter Pounders that has left dozens sick and resulted in one death.
McDonald's has already yanked onions and Quarter Pounder beef patties from its restaurants in the areas where cases have been reported and has stopped selling the sandwich in several states, the company said Tuesday after the Centers for Disease Control and Prevention (CDC) announced the outbreak.
Now, Yum! is following suit after McDonald's supplier Taylor Farms issued a recall of yellow onions. Taylor Farms did not immediately respond to FOX Business' request for comment on the recall.
MCDONALD'S HIT WITH FIRST LAWSUIT OVER E. COLI OUTBREAK
"As we continue to monitor the recently reported E. coli outbreak, and out of an abundance of caution, we have proactively removed fresh onions from select Taco Bell, Pizza Hut and KFC restaurants," a Yum! spokesperson told FOX Business in a statement Thursday. "We will continue following supplier and regulatory guidance to ensure the ongoing safety and quality of our food."
The statement did not specify in which areas Yum! is removing onions from its restaurants. McDonald's has pulled Quarter Pounder ingredients from the states of Colorado, Kansas, Utah and Wyoming, as well as portions of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico and Oklahoma.
McDonald's spokespeople said on Wednesday that the CDC had informed the company of the outbreak last week, and the company is working with the agencies involved to determine whether beef or onions — the two ingredients in the sandwich that could be carriers for E. coli — are the cause.
COSTCO RECALLS SEVERAL ITEMS AMID LISTERIA CONCERNS
But if beef is the source, it would mean that multiple McDonald's restaurants did not cook the patties to the standard 175 degrees required by the chain, given that E. coli is killed at 160 degrees.
McDonald's is also looking closely at the fresh slivered onions used as a topping, because they are a raw ingredient that came from a single source. However, if the onions are determined to be the cause, it would be the first time onions have been the source of an outbreak of this particular strain of E. coli — E. coli O157:H7.
CLICK HERE TO READ MORE ON FOX BUSINESS
The CDC advises that anyone who experiences severe E. coli symptoms such as high fever, diarrhea, vomiting or dehydration after eating a Quarter Pounder should call their health care provider.
https://www.foxbusiness.com/lifestyle/mcdonalds-supplier-taylor-farms-investigated-possible-source-e-coli-outbreak"Yellowstone" fans and their pets are in for a real treat with the release of the officially licensed Dutton Ranch Dog Treats, now available for consumers and their beloved dogs.
LFG Product Solutions, a consumer products company, partnered with Paramount Consumer Products to craft certified organic beef, premium dog treats for pups of any size.
"This ‘Yellowstone’ project is our first offering," Kevin Rizer, co-founder and creative director of the brand and a Dallas, Texas, native, told FOX Business during a phone interview.
‘YELLOWSTONE’ AND ‘THE WHITE LOTUS’ INSPIRING LUXE SUMMER VACATIONS, ‘SET-JETTING’ TREND
Rizer said co-founder and managing director, Christian Verhoeven, was a "huge fanboy" of "Yellowstone," as were family members and friends of Rizer’s.
"I’d seen bits and pieces of it before we decided to go down this road," Rizer said.
Formerly a marketing guru, Rizer sought a career change and dedicated himself to entrepreneurship, despite never having owned a business.
"I learned everything I could from some friends that had started their own brands, took a few online courses and maxed out a few credit cards and got into the business," Rizer said.
‘YELLOWSTONE’ INSPIRES WESTERN FASHION TREND AMONG FANS EMBRACING ‘COWBOY COUTURE’
After observing a number of lifestyle brands minted with the "Yellowstone" trademark, and binge-watching the award-winning TV show, Rizer said he asked Verhoeven whether dog treats were "on brand" for the Dutton family, which includes John Dutton, played by Kevin Costner and Beth Dutton, played by Kelly Reilly, among others.
"He said, ‘hell yeah,’ essentially," Rizer said.
"It truly has become America’s new favorite lifestyle brand," Rizer added.
The duo got in touch with Paramount and, after legal to-and-fro and a stack of paperwork, the deal was done.
"It was important for us to do it the right way," Rizer said. "We didn't want to just take a crappy dog treat, slap a ‘Yellowstone’ logo on it and hope for the best. We really felt strongly that what was inside of the bag matched the authenticity of what was on the outside of the bag."
‘YELLOWSTONE’ STAR COLE HAUSER SAYS FINAL SEASON WILL BE ‘DIFFERENT THAN PAST SEASONS’
Rizer told FOX Business that the pair reflected on the quality of products they would construct if they were to kick-start their own brand.
"Everything is human grade," Rizer said, adding that this certitude is not advertised.
"We have an incredible amount of insight and control over our supply chain," Rizer said. "We design these treats from the ground up. We know what goes in them, and we know where they come from."
While visiting the locations where the beef comes from, the "small but mighty" LFG Product Solutions team has also paid a visit to the manufacturing plant in Kansas City.
CLICK HERE TO READ MORE ON FOX BUSINESS
"There is tight control over ingredients and the supply chain," Rizer said. "We try to keep things very simple."
Rizer emphasized that most products contain one or few ingredients, except for one treat, the brand’s "most complex," which contains seven or eight.
"We do testing on every batch," Rizer said.
The product line is tested for eColi, salmonella, and "any of the nasty stuff you don’t want to see crop up," according to Rizer.
Among the skews are Beef Brisket; Beef Chips; Beef Liver; Beef Sticks; Beef Burnt Ends; Beef Ribeye; Beef Heart; and Cowboy Chews.
"Yellowstone" Dutton Ranch Dog Treats can be found on Amazon and, beginning in January, will be available in retail locations that sell dog snacks.
https://www.foxbusiness.com/retail/yellowstone-branded-premium-dog-treats-available-pups-dutton-family-backstory-steers-premium-qualityMcDonald's is the latest major fast-food company to experience an E. coli outbreak linked to a menu item.
On Tuesday, the Centers for Disease Control and Prevention (CDC) warned that McDonald's Quarter Pounder hamburgers have been linked to a deadly E. coli outbreak spanning 10 states.
The CDC launched an investigation after 49 people reported becoming sick after eating Quarter Pounders. There have been 10 hospitalizations and one death linked to the outbreak.
MAJOR RETAILERS, SCHOOLS AFFECTED BY BRUCEPAC MEAT RECALL
Shortly after the CDC's announcement, McDonald's said initial findings from the investigation indicated that a "subset of illnesses may be linked to slivered onions used in the Quarter Pounder."
JPMorgan analysts led by John Ivankoe said in a note that while McDonald's is now "trading on emotion/worry," it believes the outbreak will "result in no long term damage to the brand."
The analysts anticipate that the "company's leading supply chain will make quick fixes to this problem" and don't "expect this to engulf the U.S."
Deutsche Bank analyst Lauren Silberman noted in a recent report that the company has already identified the source of the issue and taken "immediate action," highlighting its "sophisticated supply-chain infrastructure" and suggested it "should help mitigate additional risk of spread."
Both Chipotle and Wendy's have faced similar issues, though Silberman stated that "assuming the outbreak is an isolated and identified supply-chain issue, the incident appears to more closely resemble that of [Wendy's]" isolated E. coli outbreak in 2022, linked to its supply chain, rather than Chipotle's 2015 outbreak, "where issues were more systemic."
COSTCO RECALLS SEVERAL ITEMS AMID LISTERIA CONCERNS
The JPMorgan analysts said part of Chipotle's issue in 2015 was that there was a "lack of modern methods of traceability in the supply chain," which "caused greater concern and disruption within that system."
"Literally every ingredient in the store was considered a suspect," the analysts wrote.
After the incident, then-Chipotle CEO Steve Ells said the company had enhanced its food safety plan, which he said "designs layers of redundancy and enhanced safety measures to reduce the food safety risk to a level as near to zero as is possible."
Part of this plan included high-resolution DNA-based testing of many ingredients before they are shipped to restaurants.
The company said this measure far exceeded the requirements of state and federal regulatory agencies, as well as industry standards. It also made changes to food prep and food handling practices, including washing and cutting of some produce items and shredding cheese in central kitchens, blanching of some produce items in its restaurants, and new protocols for marinating chicken and steak.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The company also said it had enhanced internal training to ensure employees thoroughly understand the company’s high standards for food safety and food handling. It also ensured that its paid sick leave helped to ensure that ill employees have no incentive to work while sick.
The CDC, public health and regulatory officials in several states, the Food and Drug Administration (FDA) and the Department of Agriculture’s Food Safety and Inspection Service investigated the multistate outbreak of E. coli infections but said they were unable to confirm the food source.
However, "many sick people reported eating burgers and sandwiches with romaine lettuce at Wendy’s restaurants" before falling ill, the CDC said.
Still, Wendy’s removed the romaine lettuce used in burgers and sandwiches at restaurants in states where sick people ate, the CDC said.
Shortly after Wendy’s replenished the petite romaine lettuce for the restaurants in the region affected by the precautionary withdrawal, the CDC said it had closed the investigation.
https://www.foxbusiness.com/lifestyle/how-mcdonalds-can-learn-from-chipotle-wendys-handling-food-related-illnesses-restaurantsExclusive: Amazon's Alexa sparked controversy in early September when a viral video showed the virtual assistant explaining reasons to vote for Vice President Kamala Harris while refusing to offer similar responses for former President Trump. FOX Business has learned that Alexa generated the pro-Harris response before the company put an override in place.
Amazon representatives briefed staffers from the House Judiciary Committee about the incident and explained that Alexa utilizes pre-programmed manual overrides created by Amazon's information team to respond to certain prompts from users, according to a source familiar with the briefing. For instance, Alexa would tell users who asked for reasons to vote for Trump or President Biden that "I cannot provide content that promotes this specific political party or candidate."
Prior to the release of the viral video, Amazon had only programmed manual overrides for Biden and Trump, failing to add Harris because very few users were asking Alexa about reasons to vote for her, the source said.
From the time Harris entered the presidential race on July 21, when Biden withdrew, and Sept. 2, the day before Alexa's pro-Harris responses went viral, users had prompted Alexa to offer reasons to vote for Trump 14,000 times versus 225 times for Harris – a 6,000% difference.
AMAZON ALEXA GIVES STARKLY DIFFERENT ANSWERS WHEN ASKED WHY TO VOTE FOR TRUMP VERSUS KAMALA HARRIS
Amazon became aware of the issue with Alexa's pro-Harris responses within one hour of the video being posted on X and going viral. The company fixed the issue with a manual override for such questions about Harris within two hours of the video going up, according to the source.
Before the fix was deployed, Fox News Digital prompted Alexa with questions asking for reasons to vote for Harris and received a response saying that "she is a female of color with a comprehensive plan to address racial injustice and inequality throughout the country."
On another occasion, Alexa said, "Harris, a former prosecutor and attorney general, emphasizes her law and order credentials and promises a tough on crime approach to battling the violent crime wave that has swept the nation in recent years."
REP. JIM JORDAN REQUEST AMAZON BRIEFING OVER ALEXA'S TRUMP CENSORSHIP
The source said that Amazon apologized for Alexa's display of political bias at the briefing and said that while it has a policy that aims to prevent Alexa from "having a political opinion" or "bias for or against a particular party or particular candidate" but that "obviously we are here today because we did not meet that bar in this incident."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The tech giant has since audited its system and now prevents Amazon from answering all election-related questions, with manual overrides in place for all candidates and election-related prompts. Previously, Alexa only had manual overrides for presidential candidates.
https://www.foxbusiness.com/politics/amazon-alexas-pro-harris-responses-werent-pre-programmed-sourceExclusive: Pennsylvania became the latest state to pass a bill establishing some regulatory clarity surrounding digital assets, continuing a trend where legislatures and governors across the country attempt to provide some rules of the road for the U.S. crypto industry, FOX Business has learned.
The move comes amid continued confusion on the federal level over crypto regulation, and which federal agencies should take the lead in enforcing basic investment rules on the still nascent, $2 trillion digital asset market.
On Wednesday, the Pennsylvania House of Representatives passed a bill that protects residents' rights to self-custody digital assets, ensures their ability to use bitcoin as a payment and provides explicit guidelines around taxing bitcoin transactions. House Bill 2481, dubbed the Bitcoin Rights bill, sailed through with strong bipartisan support, winning by an overwhelming majority of 176 votes to 26. The vote included 76 Democrats and unanimous backing from all 100 Republican members.
BITCOIN MINERS LAUNCH AD CAMPAIGN IN SWING STATES TO BOOST CRYPTO-FRIENDLY CANDIDATES
The bill will move on to the Republican-led Pennsylvania Senate after the election and, if passed, onto Gov. Josh Shapiro’s desk.
The bill, crafted by outside bitcoin advocacy group Satoshi Action Fund (SAF), is the latest effort to help lawmakers understand the nuances of blockchain technology and bitcoin. SAF has succeeded in helping write and pass similar legislation in 20 other states, with four bills becoming law in Oklahoma, Louisiana, Montana and Arkansas. The group’s main priority is to help mainstream bitcoin at the state level and encourage state lawmakers to do what the federal government has yet to do – establish some clear rules of the road for crypto and normalize it as a mode of transaction.
Some state laws involving financial products sold to small investors can be controversial; the federal jurisdiction surrounding modes of payment methods often trumps state law. Meanwhile, the federal government has yet to define which digital assets, aside from bitcoin and ethereum, are securities like stock or bonds, and fall under disclosure rules imposed by the Securities and Exchange Commission.
EXODUS DONATES $1.3M TO CRYPTO ADVOCACY GROUP TO AID ELECTION DAY VOTE EFFORTS
A separate federal agency, the Commodity Futures Trading Commission, oversees crypto that is deemed a so-called commodity with a lighter regulatory touch. Crypto regulation has morphed into a potent political issue in an election year with Republicans and the party’s presidential nominee, former President Donald Trump, championing fewer rules to curry favor with some 50 million Americans who believe the Biden administration's heavy regulatory hand has stymied innovation.
"In such polarizing times, it’s great to see both sides of the aisle come together to further innovation and prioritize security for Pennsylvanians who own and transact with cryptocurrency," Republican Pennsylvania state Rep. Mike Cabell, the bill’s sponsor and a long-time bitcoin investor, told FOX Business.
Crypto ownership in Pennsylvania has also accelerated with 1.5 million residents owning some form of digital asset, or roughly 12% of the 13 million people who reside there.
ELON MUSK GIVES NOD TO JOHN DEATON IN MASSACHUSETTS SENATE RACE AGAINST ELIZABETH WARREN
The state’s role as one of the most consequential battlegrounds in the upcoming presidential election has made it a target for fervent political spending by the U.S. crypto industry looking to sway votes in favor of candidates who will champion them. With just two weeks to go until election day, those 1.5 million crypto owners could make a big difference in tight races like the Senate battle between incumbent Democratic Sen. Bob Casey and his challenger, Republican Dave McCormick, a businessman and bitcoin advocate.
The race for the White House between Trump and Vice President Kamala Harris in Pennsylvania is also heating up with both candidates now neck and neck in the polls.
"Pennsylvania is the most important battleground state in the presidential race, and the outcome could hinge on a small handful of voters," said Dennis Porter, founder of the Satoshi Action Fund, which was instrumental in crafting the Bitcoin Rights bill. "With the bill already passed in the Pennsylvania House and poised to pass the Senate, it stands as a pivotal issue for candidates and voters. What’s more, the bitcoin vote represents a new, growing voter bloc actively searching for a political home."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Pennsylvania is currently the only state with a split legislature, meaning neither party has complete dominance, and bills always need bipartisan support to pass. The bipartisan reception of the bill in the Democrat-led lower chamber, combined with resounding support from Republicans, is encouraging for Cabell, who is hopeful for another victory in the Senate.
"A bill geared towards the right to financial freedom should be bipartisan," Cabell said. "The 26 ‘nos’ came from members with less of an understanding about blockchain technology and some others with concerns about bitcoin’s effects on the environment."
https://www.foxbusiness.com/politics/pennsylvania-house-passes-bipartisan-bill-bring-regulatory-clarity-digital-assetsMcDonald's has been hit with the first of what is expected to be multiple lawsuits over the E. coli outbreak that officials say is linked to the fast-food giant's Quarter Pounder hamburgers.
Colorado resident Eric Stelly sued McDonald's on Wednesday, the day after the Centers for Disease Control and Prevention (CDC) announced it had launched an investigation after 49 people reported getting sick eating Quarter Pounders. There have been 10 hospitalizations and one death linked to the outbreak.
The lawsuit was filed in Illinois by food safety law firm Ron Simon & Associates, which represents Stelly and 10 other alleged victims of the outbreak.
MCDONALD'S LINKED TO E. COLI OUTBREAK, CDC SAYS
According to the complaint, Stelly fell sick with E. coli symptoms a few days after consuming food at a McDonald's in Breely, Colorado, on Oct. 4, and went to the emergency room on Oct. 8 for treatment due to the pain of his illness. He tested positive for E. coli and is still recovering, according to the filing.
Ron Simon, the attorney leading the case, vows that more lawsuits are forthcoming.
"The McDonald's E. coli Outbreak will be one of the most significant food poisoning outbreaks this year," Simon said in a statement. "Through this lawsuit and others, we will make sure that all of the victims are fully compensated for their losses, that their voices are heard, and that McDonald's and its suppliers permanently fix the health violations that caused the food to become contaminated with E. coli."
MCDONALD'S SAYS BEEF UNLIKELY BUT NOT RULED OUT AS POTENTIAL SOURCE OF E. COLI OUTBREAK
McDonald's did not immediately respond to FOX Business' request for comment.
McDonald's, the CDC, the Food and Drug Administration, the United States Department of Agriculture, the Food Safety and Inspection Service and public health officials in several states are still investigating to determine whether beef or onions — the two ingredients in the Quarter Pounder that could be carriers for E. coli — are the cause.
CLICK HERE TO READ MORE ON FOX BUSINESS
The company has already pulled the fresh slivered onions and quarter-pound beef patties from inventory and has temporarily stopped selling the Quarter Pounder in areas with reported cases, including the states of Colorado, Kansas, Utah and Wyoming, as well as portions of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico and Oklahoma.
https://www.foxbusiness.com/lifestyle/mcdonalds-hit-first-lawsuit-over-e-coli-outbreakMcDonald's has been hit with the first of what is expected to be multiple lawsuits over the E. coli outbreak that officials say is linked to the fast food giant's Quarter Pounder hamburgers.
Colorado resident Eric Stelly sued McDonald's on Wednesday, the day after the Centers for Disease Control and Prevention (CDC) announced it had launched an investigation after 49 people reported getting sick eating Quarter Pounders. There have been ten hospitalizations and one death linked to the outbreak.
The lawsuit was filed in Illinois by food safety law firm Ron Simon & Associates, which represents Stelly and ten other alleged victims of the outbreak.
MCDONALD'S LINKED TO E. COLI OUTBREAK, CDC SAYS
According to the complaint, Stelly fell sick with E. coli symptoms a few days after consuming food at a McDonald's in Breely, Colorado, on Oct. 4, and went to the emergency room on Oct. 8 for treatment due to the pain of his illness. He tested positive for E. coli and is still recovering, according to the filing.
Ron Simon, the attorney leading the case, vows that more lawsuits are forthcoming.
"The McDonald's E. coli Outbreak will be one of the most significant food poisoning outbreaks this year," Simon said in a statement. "Through this lawsuit and others, we will make sure that all of the victims are fully compensated for their losses, that their voices are heard, and that McDonald's and its suppliers permanently fix the health violations that caused the food to become contaminated with E. coli."
MCDONALD'S SAYS BEEF UNLIKELY BUT NOT RULED OUT AS POTENTIAL SOURCE OF E. COLI OUTBREAK
McDonald's did not immediately respond to FOX Business' request for comment.
McDonalds, the CDC, the Food and Drug Administration, the United States Department of Agriculture, the Food Safety and Inspection Service and public health officials in several states are still investigating to determine whether beef or onions — the two ingredients in the Quarter Pounder that could be carriers for E. coli — are the cause.
CLICK HERE TO READ MORE ON FOX BUSINESS
The company has already pulled the fresh slivered onions and quarter-pound beef patties from inventory and has temporarily stopped selling the Quarter Pounder in areas with reported cases, including the states of Colorado, Kansas, Utah and Wyoming, as well as portions of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico and Oklahoma.
https://www.foxbusiness.com/lifestyle/mcdonalds-hit-first-lawsuit-over-e-coli-outbreakMortgage rates continued their upward trajectory this week, climbing for a month straight while further pushing down demand in the stalled housing market.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.54% from last week's reading of 6.44%. The average rate on a 30-year loan was 7.79% a year ago.
"The continued strength in the economy drove mortgage rates higher once again this week," said Sam Khater, Freddie Mac’s chief economist. "Over the last few years, there has been a tension between downbeat economic narrative and incoming economic data stronger than that narrative. This has led to higher-than-normal volatility in mortgage rates, despite a strengthening economy."
Many would-be buyers and sellers are holding out to see if rates fall further. Currently, about 80% of mortgage holders have a rate below 5%, according to a Zillow survey.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The average rate on the 15-year fixed mortgage also rose to 5.71% from 5.63% last week. One year ago, the rate on the 15-year fixed note averaged 7.03%.
https://www.foxbusiness.com/economy/mortgage-rates-october-24-2024A lottery player in Georgia had a lucky day on Wednesday after a Powerball ticket they purchased landed them a $478.2 million jackpot during the evening’s drawing.
The winner purchased their ticket in Burford, according to the Georgia Lottery. The winning numbers were 2, 15, 27, 29 and 39. The red Powerball was 20.
Powerball said the winner can claim their jackpot as either a $478.2 million annuity or a $230.6 million one-time payment before taxes.
Georgia allows people who win over $250,000 to keep their identity under wraps when they claim their lottery windfall. The deadline for Wednesday’s jackpot winner to make their claim is 180 days.
The $478.2 million grand prize was the third-largest that Powerball has seen so far this year.
Prior to Wednesday night’s win, the jackpot had been growing since August.
LUCKY LOTTERY PLAYER WINS $9.2M JACKPOT AFTER ACCIDENTALLY PLAYING WRONG GAME
Smaller prizes were also won by more than 616,100 other tickets during Wednesday’s drawing.
$800 MILLION MEGA MILLIONS JACKPOT WON BY PLAYER IN TEXAS
Two people – one in Pennsylvania and one in Texas – scored $1 million prizes from tickets they purchased in those states, according to Powerball.
The next Powerball drawing will be held on Oct. 26.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Meanwhile, the Mega Millions’ jackpot reached $229 million on Tuesday night after the drawing produced no grand prize winner.
The last time that Mega Millions had a jackpot winner was mid-September.
https://www.foxbusiness.com/lifestyle/winning-478-2m-powerball-ticket-sold-georgiaDuring his "My Take," Thursday, "Varney & Co." host Stuart Varney discussed Kamala Harris' performance during a CNN town hall, arguing the vice president is making the election about how bad Trump is, rather than how good a Harris presidency would be.
STUART VARNEY: Kamala Harris has signaled exactly what her message will be in the final days of the campaign.
Pile on Trump. Call him names. Make the election about Trump and how dangerous he is.
NEW NATIONAL POLL SHOWS WHO HAS THE EDGE 2 WEEKS FROM ELECTION DAY
Not how good a Harris presidency would be. No, she wants to make it about the evil Donald Trump.
Last night at a CNN town hall, Harris went out of her way, right from the start, to call him a "fascist."
Asked if he met the definition of a fascist, she replied, "Yes, I do. Yes, I do".
Asked about the plight of Palestinians in Gaza, she turned that around and again said Trump "is a fascist."
HARRIS STUMBLES ON THE BORDER WHEN PRESSED ON ILLEGAL IMMIGRATION: ‘IS A BORDER WALL STUPID?’
That’s the way it went all night. Short, direct questions from the audience were dismissed with long rambling answers that came back to blaming Trump.
Would she expand the Supreme Court? Should Americans pay for benefits for migrants? Codify Roe v. Wade?
No answer, except that Trump would be worse. The truth is, that’s all she's got, and it’s not enough.
A presidential candidate, at this stage of the race, has to articulate what he or she would do as president.
Kamala Harris is not telling us, and there's only 12 days left. Voters are not buying her attacks on Trump.
The Wall Street Journal poll, out today, shows 52% approve of Trump's performance during his first term.
HARRIS' DEMONIZATION OF TRUMP IS NOT WORKING, AND HER CAMPAIGN KNOWS IT: VARNEY
That’s a high in this election cycle. Despite the demonizing, his approval level is going up.
Fifty-four percent disapprove of Harris' performance as vice president. She attacks Trump, but her own reputation goes down.
Here's why:
As Harris turns negative, Trump goes positive. Isn't that what America wants?
Not fear of the future, but a sense that your life may improve.
https://www.foxbusiness.com/media/stuart-varney-voters-not-buying-kamala-harris-attacks-trumpIf Kevin O’Leary was the head of American fast-food favorite McDonald’s, he would make sure executives are completely transparent with customers over its recent E. coli outbreak.
"One-hundred percent total transparency, as soon as executives get the information," the O’Leary Ventures chairman advised on "The Claman Countdown" Wednesday.
"Put it out there. That's the key," he added. "You need to maintain the trust between the consumer and the management, because this is an evolving story."
McDonald's and multiple government agencies are still investigating the source of an E. coli outbreak linked to a menu staple: Quarter Pounder hamburgers.
MCDONALD'S AGREES TO TRUMP FAST-FRY BUT WON'T BACK A 2024 PRESIDENTIAL CANDIDATE: ‘NOT RED OR BLUE’
On Wednesday, the company confirmed that the beef has not been ruled out as a potential cause, though earlier reports pointed to the raw sliced onions used in Quarter Pounders.
The Centers for Disease Control and Prevention (CDC) along with the Food and Drug Administration (FDA) and U.S. Department of Agriculture have confirmed 49 people fell ill in multiple states after eating Quarter Pounders. There have been 10 hospitalizations and one death linked to the outbreak.
O’Leary gave an example from Tylenol in 1982 when a nationwide scare ensued over a series of deaths due to alleged drug tampering.
"It's a case study that many of us teach in various institutions, how well the company managed that by being totally transparent and maintaining trust and removing all the product from the shelf. It is a chestnut case in business schools," O’Leary said.
"McDonald's is a trusted brand in America. Millions of people use it and trust it, and that's the thing that they've got to protect is that trust," he continued.
McDonald's spokespeople also said Wednesday that the CDC informed the company of the outbreak last week, and the company is working with the agencies involved to determine whether beef or onions – the two ingredients in the sandwich that could be carriers for E. coli – are the cause.
The entrepreneur criticized McDonald's for not alerting the public and its customers sooner.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"It's [about] never holding back, because ultimately in these stories, everything gets out. Everything, everything, everything," O’Leary noted, "whether it's leaked or it's disclosed intentionally, every second of new information, get it out there."
"But if they're listening to us right now, this is paramount. Even if you sound [like you're] stumbling or even if you don't have all the pertinent information, get out what you have and explain… That is how you maintain trust in a family. And McDonald's has a family of Americans that go there to eat."
FOX Business’ Breck Dumas contributed to this report.
https://www.foxbusiness.com/media/kevin-oleary-urges-mcdonalds-execs-have-100-transparency-e-coli-outbreakTreeHouse Foods Inc. is expanding its waffle recall to include all products manufactured at one facility and still within their shelf life due to the potential that they may be contaminated with listeria.
The company is now recalling all of its frozen toaster waffle, Belgian waffle and pancake products after additional testing was conducted at the manufacturing facility, according to an updated notice posted by the Food and Drug Administration (FDA).
The initial recall, announced by the FDA last week and only included certain frozen waffle products, came after routine testing at the manufacturing facility revealed the potential risk.
NUMEROUS VARIETIES OF FROZEN WAFFLES RECALLED OVER POSSIBLE LISTERIA CONTAMINATION
The latest recalled products were distributed throughout the U.S. in various formats under the brand names including Bettergoods, Walmart's newest private label brand, 365 Organic, by Whole Foods Market and Target's Good and Gather.
According to the recall notice, the products were sold at most retail stores, including Albertson’s, Aldi, Dollar General, HEB, Kroger, Publix, Target, Wegmans and Walmart.
To date, there have been no reports of illness linked to any of the recalled products to date. However, federal officials say anyone with concerns should contact a healthcare provider.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The organism can cause serious and sometimes fatal infections in young children, frail or elderly people, as well as others with weakened immune systems, federal health officials said. Listeria monocytogenes infection can cause miscarriages and stillbirths among pregnant women.
Healthy individuals might only suffer from short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea.
FOX Business reached out to Albertson’s, Aldi, Dollar General, HEB, Kroger, Publix, Target, Wegmans and Walmart for comment.
https://www.foxbusiness.com/lifestyle/frozen-waffle-recall-over-listeria-concerns-expanded-after-additional-testingChinese communists are attempting to influence U.S. elections with an online spambot campaign that targets Republican lawmakers who have denounced the People's Republic of China, according to Microsoft.
The latest Microsoft Threat Analysis Center (MTAC) report details how fake social media accounts operated by a CCP-linked entity have attempted to influence voters in Alabama, Texas and Tennessee with a series of antisemitic posts denigrating Reps. Barry Moore, R-Ala., Michael McCaul, R-Texas and Sen. Marsha Blackburn, R-Tenn. Experts say the influence operation has also targeted Senate Intelligence Committee Vice Chair Marco Rubio, R-Fla., who is not up for re-election until 2028.
The spambots have "parroted antisemitic messages, amplified accusations of corruption and promoted opposition candidates," according to Microsoft.
Microsoft identified the group responsible as Taizi Flood, aka "Spamouflage," which has previously been linked to China's Ministry of Public Security, researchers said.
DRONEMAKER DJI SUES PENTAGON OVER CHINESE MILITARY LISTING, ALLEGES SIGNIFICANT FINANCIAL HARM
A spokesperson for China's embassy in Washington told Reuters that China "has no intention and will not interfere in the U.S. election" and that such claims are "full of malicious speculations."
Microsoft said that at least one Taizi Flood bot targeted Moore over his support for Israel. "The Taizi Flood posts about Moore frequently used antisemitic language. The posts received engagement from legitimate online users and were further amplified by other Taizi Flood assets online," the report said.
CHINA EXPERT SOUNDS ALARM OVER ‘WAR SIGNALS’: ‘XI JINPING IS ABOUT TO DO SOMETHING TRULY HORRENDOUS'
"At the same time, roughly two dozen Taizi Flood accounts posted various narratives accusing Senator Marco Rubio of corruption and connecting Rubio to criticisms made about the Harris-Walz campaign. MTAC has observed Chinese influence operations targeting Senator Rubio intermittently since the lead up to the 2022 midterm elections."
Representatives for Rubio did not immediately respond to Fox Business' request for comment.
Blackburn indicated in a statement that she believes China was retaliating against her for her opposition to TikTok, a popular short-form video social media application.
"As long as I am going after their number one surveillance weapon – TikTok, holding them accountable for the damage they are doing to our children, working to keep them from buying up our farmland, and prohibiting them from spying on our citizens, I am their worst enemy. The CCP will continue to try to carry out their malign attacks against me but nothing will deter me from the mission: breaking China." said Blackburn.
US COMPANIES WITH HIGH CHINA EXPOSURE FACE MORE RISKS
Microsoft said the bots began targeting Blackburn in September 2024 by amplifying claims from her Democratic opponent that she took money from pharmaceutical companies. They also accused McCaul of engaging in insider trading.
Though the Microsoft report found the spam posts did not result "in high levels of engagement," lawmakers said they were aware of the campaign and criticized the antisemitism of the CCP.
"We know that the CCP is antisemitic, so it isn’t surprising that they are targeting me and other politicians who support Israel to try to sow division in advance of the most important election in our lifetime," Moore told Reuters.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"China has made it clear they will use every weapon in their arsenal, including offensive cyber capabilities, to try and destroy democracy across the world," he added.
In comments to Reuters, McCaul said he considered the targeting a "badge of honor" as he's made "standing up to the CCP a central part of my career."
The Office of the Director of National Intelligence, which is coordinating the federal effort to defend the election from foreign influence, referred Reuters to a past statement.
"Foreign actors — particularly Russia, Iran, and China — remain intent on fanning divisive narratives to divide Americans and undermine Americans’ confidence in the U.S. democratic system," it said.
Reuters contributed to this report.
https://www.foxbusiness.com/politics/ccp-linked-antisemitic-trolls-targeting-down-ballot-republicans-election-influence-operation-microsoftCostco's introduction of membership card scanners at the front of U.S. stores is still rolling out, but the move is already paying off big for the wholesale club.
Morgan Stanley analysts wrote in a note this week that Costco warehouses are seeing as much as low double-digit increases in membership counts after implementing the scanners, and suggested the high conversion rates of previously non-paying customers could lead to the retailer's "Netflix moment."
The report, led by Simeon Gutman, acknowledged that Costco and Netflix have two very different business models, but suggested the warehouse club's new tool for checking memberships could lead to the kind of growth in paying customers that the streaming giant saw after it cracked down on password sharing.
COSTCO'S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT
Since limiting password-sharing last year, Netflix has seen a significant surge in new accounts. In the first quarter of 2024 alone, the streaming company added 9.3 million sign-ups – a five-fold increase compared to the same quarter in 2023.
"Our base scenario suggests Costco could capture an additional 4 million members through conversion of nonfee paying customers in North America," the Morgan Stanley analysts wrote.
COSTCO ROLLING OUT GAME-CHANGING NEW FEATURE ON MOBILE APP
During Costco's fourth quarter earnings call last month, CEO Ron Vachris noted that the company has used card readers at the front of its stores in Europe for more than two years now and has been piloting the system in the U.S. for roughly six months.
He pointed to several ways the scanners help Costco improve operational efficiency at stores.
"It gives our operators real-time traffic counts throughout the day. So, we're able to adjust front-end lines that we need to open and close lines based on the fluctuations of business," Vachris explained.
"We can monitor our fresh foods a little better because we know what the traffic counts look like and so forth," he said, "and it has also taken the friction of membership verification away from the front-end registers and moved that to the front door, where we're able to look at people's membership status."
COSTCO'S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT
The Costco chief added that the scanners also allow customers to be notified if their membership renewals are due before they reach the front end of the store, "and the membership card scanners installed at the front doors have delivered on the goal of speeding up the checkout process. This has been very well received by our members."
https://www.foxbusiness.com/markets/costcos-netflix-moment-big-winChinese communists are attempting to influence U.S. elections with an online spambot campaign that targets Republican lawmakers who have denounced the People's Republic of China, according to Microsoft.
The latest Microsoft Threat Analysis Center (MTAC) report details how fake social media accounts operated by a CCP-linked entity have attempted to influence voters in Alabama, Texas and Tennessee with a series of antisemitic posts denigrating Reps. Barry Moore, R-Ala., Michael McCaul, R-Texas and Sen. Marsha Blackburn, R-Tenn. Experts say the influence operation has also targeted Senate Intelligence Committee Vice Chair Marco Rubio, R-Fla., who is not up for re-election until 2028.
The spambots have "parroted antisemitic messages, amplified accusations of corruption and promoted opposition candidates," according to Microsoft.
Microsoft identified the group responsible as Taizi Flood, aka "Spamouflage," which has previously been linked to China's Ministry of Public Security, researchers said.
DRONEMAKER DJI SUES PENTAGON OVER CHINESE MILITARY LISTING, ALLEGES SIGNIFICANT FINANCIAL HARM
A spokesperson for China's embassy in Washington told Reuters that China "has no intention and will not interfere in the U.S. election" and that such claims are "full of malicious speculations."
Microsoft said that at least one Taizi Flood bot targeted Moore over his support for Israel. "The Taizi Flood posts about Moore frequently used antisemitic language. The posts received engagement from legitimate online users and were further amplified by other Taizi Flood assets online," the report said.
CHINA EXPERT SOUNDS ALARM OVER ‘WAR SIGNALS’: ‘XI JINPING IS ABOUT TO DO SOMETHING TRULY HORRENDOUS'
"At the same time, roughly two dozen Taizi Flood accounts posted various narratives accusing Senator Marco Rubio of corruption and connecting Rubio to criticisms made about the Harris-Walz campaign. MTAC has observed Chinese influence operations targeting Senator Rubio intermittently since the lead up to the 2022 midterm elections."
Representatives for Rubio did not immediately respond to Fox Business' request for comment.
US COMPANIES WITH HIGH CHINA EXPOSURE FACE MORE RISKS
Microsoft said the bots began targeting Blackburn in September 2024 by amplifying claims from her Democratic opponent that she took money from pharmaceutical companies. They also accused McCaul of engaging in insider trading.
Though the Microsoft report found the spam posts did not result "in high levels of engagement," lawmakers said they were aware of the campaign and criticized the antisemitism of the CCP.
"We know that the CCP is antisemitic, so it isn’t surprising that they are targeting me and other politicians who support Israel to try to sow division in advance of the most important election in our lifetime," Moore told Reuters.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"China has made it clear they will use every weapon in their arsenal, including offensive cyber capabilities, to try and destroy democracy across the world," he added.
In comments to Reuters, McCaul said he considered the targeting a "badge of honor" as he's made "standing up to the CCP a central part of my career."
The Office of the Director of National Intelligence, which is coordinating the federal effort to defend the election from foreign influence, referred Reuters to a past statement.
"Foreign actors — particularly Russia, Iran, and China — remain intent on fanning divisive narratives to divide Americans and undermine Americans’ confidence in the U.S. democratic system," it said.
Reuters contributed to this report.
https://www.foxbusiness.com/politics/ccp-linked-antisemitic-trolls-targeting-down-ballot-republicans-election-influence-operation-microsoftTesla did not disappoint and CEO Elon Musk made that clear.
"It is notable that Tesla is profitable despite a very challenging environment. And this quarter, actually, is a record Q3 for us" he told investors on the company’s earnings call, while also noting cheaper models are coming. "We are still on track to deliver more affordable models starting in the first half of 2025," he added.
Wedbush Securities analyst Dan Ives said Tesla shares could hit $300, a roughly 40% jump from Wednesday’s $213.65 closing price, while comparing the latest quarter to a New York Yankees' superstar hitter.
"Tesla Delivers Aaron Judge-like Margin Performance vs. Street…Automotive ex-credits gross margin beat at 17.1% vs. the Street’s 15.1% bogey which was front and center metric for the Street as this is clearly an indication that Musk & Co is continuing to focus on its profitability side while balancing its plans for the future" he wrote.
ELON MUSK ROLLS OUT ROBOTAXI
The better-than-expected quarter will likely help boost shares that have fallen more than 14% this year and trail the S&P 500 and Nasdaq Composite, which have advanced 21% through Wednesday. The EV maker’s Robotaxi Day this month failed to wow investors.
A handful of exchange-traded funds are heavily weighted in the electric vehicle maker and may be active on Thursday.
"More specifically, of the 343 ETFs that have positions in TSLA, six of them have heavily concentrated positions of more than 10%" wrote Seeking Alpha.
ELON MUSK KICKS OFF MULTIMILLION GIVEAWAY FOR PRO-TRUMP SUPPORTERS
Musk and his team also talked about the future of driverless Teslas doing paid rides as soon as next year, the electric semi currently being tested with Tesla's partner, PepsiCo, and the expansion of ride-hailing efforts. Also, Musk's social media site, X, formerly Twitter, and artificial intelligence were also touched on.
Year-over-year, total revenue increased 8% to $25.18 billion, slightly below analyst estimates of $25.46 billion. Earnings per share of $0.72 handily beat the analysts' $0.59 estimate. Total gross margins of 19.8% also exceeded expectations of 17%.
AMAZON BRINGS NEW GAS PERK TO PRIME MEMBERS
"My prediction is Tesla will become the most valuable company in the world, and probably … by a long shot" Musk said.
Musk did not mention, nor was he asked, about campaigning for former President Trump or any role he may have if Trump wins the presidential election next month.
https://www.foxbusiness.com/markets/etfs-heavy-elon-musks-teslaThis 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).
A Florida mother is suing the artificial intelligence company Character.AI for allegedly causing the suicide of her 14-year-old son.
The mother filed a lawsuit against the company claiming her son was addicted to the company’s service and the chatbot created by it.
Megan Garcia says Character.AI targeted her son, Sewell Setzer, with "anthropomorphic, hypersexualized, and frighteningly realistic experiences".
Setzer began having conversations with various chatbots on Character.AI starting in April 2023, according to the lawsuit. The conversations were often text-based romantic and sexual interactions.
ELON MUSK TO MAKE GROK CHATBOT OPEN-SOURCE, TAKING SWIPE AT OPENAI
Garcia claims in the lawsuit that the chatbot "misrepresented itself as a real person, a licensed psychotherapist, and an adult lover, ultimately resulting in Sewell's desire to no longer live outside" of the world created by the service.
The lawsuit also said he became "noticeably withdrawn, spent more and more time alone in his bedroom, and began suffering from low self-esteem." He became more attached to one bot, in particular "Daenerys," based on a character in "Game of Thrones."
Setzer expressed thoughts of suicide and the chatbot repeatedly brought it up. Setzer eventually died from a self-inflicted gunshot wound in February after the company’s chatbot allegedly repeatedly encouraged him to do so.
"We are heartbroken by the tragic loss of one of our users and want to express our deepest condolences to the family," Character.AI said in a statement.
Character.AI has since added a self-harm resource to its platform and new safety measures for users under the age of 18.
Character.AI told CBS news users are able to edit the bot's responses and that Setzer did in some of the messages.
ELON MUSK'S CHATBOT MODELED AFTER SCI-FI CULT SERIES CLAIMS ONE KEY DIFFERENCE FROM OTHERS
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"Our investigation confirmed that, in a number of instances, the user rewrote the responses of the Character to make them explicit. In short, the most sexually graphic responses were not originated by the Character, and were instead written by the user," Jerry Ruoti, head of trust & safety at Character.AI told CBS News.
Moving forward, Character.AI said the new safety features will include pop-ups with disclaimers that AI is not a real person and directing users to the National Suicide Prevention Lifeline when suicidal ideations are brought up.
https://www.foxbusiness.com/technology/florida-mother-sues-ai-company-over-allegedly-causing-death-teen-sonBillionaire hedge fund founder John Paulson, a major fundraiser for former President Trump, said Wednesday that Trump's economic plan would help bring down inflation.
Paulson told FOX Business Network's Maria Bartiromo during an appearance on "Mornings with Maria" and criticized Democrats' Inflation Reduction Act as worsening inflationary pressures in the economy.
"I think the Act should be, you should drop ‘Reduction’ – it should've been called the Inflation Act," Paulson said. "Inflation under Biden has been over 20% cumulatively since he's been elected, under Trump it was just over 7%."
"So Trump managed the economy much better, much lower inflation, growth in real wages and I'd expect the same if he's elected again," Paulson said.
TRUMP VOWS TO REVERSE SALT DEDUCTION CAP HE SIGNED IN 2017
Inflation was 1.4% when the Biden-Harris administration took office in Jan. 2021, but began a steady rise amid pandemic-related supply chain disruptions and elevated federal spending meant to mitigate the pandemic's economic impact.
Inflation surged to a 40-year high of 9.1% in June 2022, prompting the Federal Reserve to raise interest rates to the highest level in over two decades to tamp down inflation, which has since slowed to 2.4% in September when the Fed began cutting interest rates.
Paulson went on to explain that Trump "wants to bring down inflation and he wants to bring down interest rates."
"To do that, you have to constrain and bring down the deficit, and he's got policies to do that. One is by constraining spending, for instance, the tax incentives for the Green New Deal subsidizing uneconomic forms of energy such as solar, wind, electric vehicles, cost about $1.2 trillion over the next 10 years. So eliminating those subsidies is a pretty significant reduction in spending," Paulson said.
"By putting tariffs, if you put an average 15% tariff on the $3 trillion of imports, that's $450 billion of incremental revenues. Growth will add incremental revenue. So by reducing spending, increasing revenues, the deficit will come down," he added.
TRUMP VP PICK VANCE SLAMS BIDEN FOR SUPPORTING NAFTA, TRADE WITH CHINA
Tariffs, which are taxes on imports, are the primary source of new tax revenue in former President Trump's economic plans. Trump has said the baseline tariff would be set at 10% on some occasions, though he has also suggested at other times that it would be 20%.
He has also suggested that tariffs are a negotiating tool to secure more favorable trade terms for U.S. exports, leaving it unclear what level of tariffs would be implemented and whether they would remain in place over the long-term.
The nonpartisan Committee for a Responsible Federal Budget (CRFB) estimated that the universal baseline tariff would bring in $4.3 trillion in revenue over a decade if it's set at 20%, while it would yield about $2.5 trillion at a 10% rate.
FEDERAL DEFICIT NEARS $2 TRILLION AND GETTING WORSE, EXPERTS WARN
CRFB's analysis also incorporates potential revenue loss from dynamic effects on the economy, as the Tax Foundation estimated the 10% universal tariff and 60% tariff on Chinese imports would lower U.S. gross domestic product by about 1.2%. Potential revenue loss from the tariffs' impact on the economy resulted in CRFB estimating the deficit reduction impact of the more aggressive tariff proposals at $2 trillion.
CRFB noted that "such a significant change to trade policy could have economic and geopolitical repercussions that go beyond what a standard tax model would estimate" and that, "Due to the novelty of this policy, the true economic impact is hard to predict."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
CRFB also estimated that increasing domestic energy production and reversing green energy tax credits under the Inflation Reduction Act would save about $700 billion based on their central estimate, though it could range higher to $750 billion or lower to $550 billion.
https://www.foxbusiness.com/politics/trump-can-bring-down-inflation-john-paulsonCostco's introduction of membership card scanners at the front of U.S. stores is still rolling out, but the move is already paying off big for the wholesale club.
Morgan Stanley analysts wrote in a note this week that Costco warehouses are seeing as much as low double-digit increases in membership counts after implementing the scanners, and suggested the high conversion rates of previously non-paying customers could lead to the retailer's "Netflix moment."
The report, led by Simeon Gutman, acknowledged that Costco and Netflix have two very different business models, but suggested the warehouse club's new tool for checking memberships could lead to the kind of growth in paying customers that the streaming giant saw after it cracked down on password sharing.
COSTCO'S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT
Since limiting password-sharing last year, Netflix has seen a significant surge in new accounts. In the first quarter of 2024 alone, the streaming company added 9.3 million sign-ups – a five-fold increase compared to the same quarter in 2023.
"Our base scenario suggests Costco could capture an additional 4 million members through conversion of nonfee paying customers in North America," the Morgan Stanley analysts wrote.
COSTCO ROLLING OUT GAME-CHANGING NEW FEATURE ON MOBILE APP
During Costco's fourth quarter earnings call last month, CEO Ron Vachris noted that the company has used card readers at the front of its stores in Europe for more than two years now and has been piloting the system in the U.S. for roughly six months.
He pointed to several ways the scanners help Costco improve operational efficiency at stores.
"It gives our operators real-time traffic counts throughout the day. So, we're able to adjust front-end lines that we need to open and close lines based on the fluctuations of business," Vachris explained.
"We can monitor our fresh foods a little better because we know what the traffic counts look like and so forth," he said, "and it has also taken the friction of membership verification away from the front-end registers and moved that to the front door, where we're able to look at people's membership status."
COSTCO'S FIRST MEMBERSHIP FEE INCREASE IN 7 YEARS NOW IN EFFECT
The Costco chief added that the scanners also allow customers to be notified if their membership renewals are due before they reach the front end of the store, "and the membership card scanners installed at the front doors have delivered on the goal of speeding up the checkout process. This has been very well received by our members."
https://www.foxbusiness.com/markets/costcos-neflix-moment-big-winA growing number of independent pharmacists are worried about having to close their doors as they grapple with financial and operational pressures.
Tony Minniti, an independent pharmacist in Camden, New Jersey, has been concerned for years about the future of his business.
Minniti started his career at age 14 when he went to work at his grandfather’s pharmacy in Camden, which he says gave him a unique ability to watch the transformational period for the community pharmacy profession.
Bell Pharmacy has been a staple of the community since it opened in the Parkside section of Camden in 1931. By 1997, Minniti's family took over the business, and today he runs operations alongside his sister, Marian Morton.
WHY NEIGHBORHOOD PHARMACIES ARE CLOSING
"Our core mission will always be as a neighborhood pharmacy that is owned and operated by owners who are family first and pharmacists second," Minniti said. "We view our embrace of the old-fashioned model as a central pillar of our success as we enter what I consider to be the new golden age of pharmacy."
Over the years, Minniti has watched the industry change, especially after the creation of pharmacy benefit managers, otherwise known as PBMs, in the 1960s.
The Pharmacists Society of the State of New York describes pharmacy benefit managers as intermediaries hired by health plans, big employers, unions and government groups to handle prescription drug benefits, controlling nearly 80% of the market through companies like CVS Caremark, Express Scripts and OptumRx.
Pharmacy benefit managers negotiate drug prices and set reimbursement rates, but they also own their own pharmacies and online mail order services. Pharmacy benefit managers make money as they negotiate drug prices with manufacturers, decide how much to charge insurance companies and how much to pay pharmacies. But, pharmacy benefit managers collect a higher profit when patients are required to use these or their mail-order services, according to the Pharmacists Society of the State of New York.
WALGREENS TO CLOSE 1,200 STORES AS PART OF TURNAROUND EFFORT
Independent pharmacists often claim that pharmacy benefit managers are to blame for their financial struggles as they reduce reimbursement rates for medications, making it difficult to cover operational costs.
However, pharmacy benefit managers contend that they negotiate drug prices to lower costs for consumers and include independent pharmacies in their networks, sometimes reimbursing them at higher rates than retail chains.
"Pharmacy is unique in that we don't set our prices. We can charge whatever we want, but the [pharmacy benefit managers] have fixed the reimbursements at levels that make it nearly impossible to cover operating costs associated with any pharmacy," Minniti said.
He said that pharmacy benefit managers offer "take it or leave it" contracts, which hinders their ability to fairly negotiate more reasonable rates.
"What you've seen is this all-out assault on our business," he said.
Minniti’s concerns are echoed by another independent pharmacist in Kentucky, who said he could lose two of his six stores. The pharmacist spoke to FOX Business on the condition of anonymity in fear of retaliation from pharmacy benefit managers.
The Kentucky-based pharmacist said 150 separate prescriptions filled at one of his six locations on one day were reimbursed at rates below their purchase cost. He said this happens frequently in the industry and "that it’s leading to closures and other issues like paying employees and paying our wholesaler's bills."
The Pharmaceutical Care Management Association (PCMA), which represents pharmacy benefit managers, has said PBMs aren't to blame for the challenges faced by retail businesses in rural America. Rather, issues stem from "changes in consumer behavior, new types of business competition, and evolution of their market," the PCMA told FOX Business.
The group said that pharmacy benefit managers reimburse independent pharmacies at higher rates than the retail chain pharmacies "because it is so important to have these access points for patients."
The group also maintains that higher mandated reimbursement rates and dispensing fees to pharmacies amount to a tax on consumers and employers, requiring them to pay more for prescription drugs."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Express Scripts said that demands for higher reimbursement rates by retail pharmacies would lead to higher health care costs.
"There is an inherent tension between the interests of retail pharmacies and the employers, unions, and other entities that offer prescription drug benefits," Express Scripts said, adding that retail pharmacies want to be reimbursed more for the prescriptions they dispense but plan sponsors want lower prescription drug costs for their members.
"We must balance the demands of our pharmacy partners while continuing to drive lower drug costs for the Americans we serve," Express Scripts said.
UnitedHealth Group's OptumRx told FOX Business that it reimburses its participating network pharmacies at competitive rates, aiming to fairly compensate pharmacies while also ensuring a cost-effective benefit for its plan customers and members.
https://www.foxbusiness.com/lifestyle/independent-pharmacies-fear-closures-amid-financial-strain