CIVICUS speaks about the disappearance of Turkmen activists Abdulla Orusov and Alisher Sahatov with human rights defender Diana Dadasheva from the civil movement DAYANÇ/Turkmenistan and with Gülala Hasanova, wife of Alisher Sahatov.
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LANCASTER, PA, October 24 (IPS) - Thousands of years ago, we looked to the stars for guidance — constellations like Taurus and the Pleiades signalled the changing of the seasons and the best times to plant, harvest and move animals.
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SYDNEY, Australia , October 24 (IPS) - The burden of breast cancer, the most common cancer among women, is global, and the projected increase in cases in the coming decades will affect women in high- and low-income countries in every region.
https://www.globalissues.org/news/2025/10/24/41408 {"url":"https://static.globalissues.org/ips/2025/10/CEWilson-Image-2-Women-Rural-Markets-Hela-Province-PNG-Highlands-100x100.jpg"}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.
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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.
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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.
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The organization said it is reviewing its legal options over the ad.
https://www.foxbusiness.com/politics/trump-ends-canada-trade-talks-over-fake-ronald-reagan-tariff-ad-egregiousMeta 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.
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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.
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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.
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"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.
https://www.foxbusiness.com/technology/meta-cuts-600-jobs-amid-ai-expansion-push-automation-replaces-human-staffPalantir 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."
"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."
Karp added that it is a "very large deal, and we're very serious about it."
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"You have these somewhat older telco infrastructures that really can't support the burden that AI places on the network," he said. "And under her leadership, they have a team that is just extremely aggressive in how you transform this from A to B. And obviously, our products are quite useful. So, after you've transformed it, you can use the data in real time at scale, given the AI load that's gonna come, then the question is what do you do with the data? And then we're ideally suited for that. But honestly, it's also just a marvelous team, and we really enjoy supporting them."
https://www.foxbusiness.com/technology/palantir-ceo-says-company-ai-arms-race-after-deal-lumenAlaska 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.
https://www.foxbusiness.com/fox-news-air-space/alaska-airlines-grounds-all-flights-across-us-airports-widespread-technology-issueThe 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.
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"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.
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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.
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"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.
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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.
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"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.
https://www.foxbusiness.com/sports/nba-gambling-probe-reveals-wild-west-private-card-games-only-matter-time-someone-flips-expertThree 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.
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"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."
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He added "safety comes first," noting the Department of Transportation will slow down or stop traffic if it is not safe for air travel.
https://www.foxbusiness.com/fox-news-air-space/major-airports-issue-ground-stops-air-traffic-controller-staffing-shortages-amid-government-shutdownThe 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.
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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.
"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."
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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.
https://www.foxbusiness.com/politics/treasury-touts-progress-reducing-federal-spending-under-trump-administrationTesla 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.
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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."
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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.
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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.
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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."
https://www.foxbusiness.com/lifestyle/musk-pleads-tesla-investors-approve-his-massive-1t-pay-package-dealMicrosoft 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.
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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."
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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.
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Microsoft did not immediately respond to FOX Business' request for comment.
FOX Business' Aislinn Murphy contributed to this report.
https://www.foxbusiness.com/technology/microsoft-ceo-satya-nadellas-annual-pay-climbs-96-5mThe 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.
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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.
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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.
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The White House confirmed to FOX Business that it is not in discussions with the companies mentioned in the Journal’s report.
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%.
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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.
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"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."
https://www.foxbusiness.com/economy/mortgage-rates-drop-lowest-level-over-year-buyers-regain-leverageTarget is cutting about 1,000 corporate positions and eliminating 800 open roles in an effort to speed up business decision-making and drive growth under its new chief executive, Michael Fiddelke.
Fiddelke, who will succeed Brian Cornell as CEO in February, has been focused on ways to speed up the way corporate teams work, turning the company into a leaner and faster organization to drive innovation. This includes eliminating layers of management.
About 80% of the roles being cut are based in the U.S., with the majority concentrated in the Minneapolis area, where the company is headquartered, and in leadership positions. Target said those in leadership positions were three times more likely to be laid off than other employees.
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The eliminations will account for 8% of the company's global headquarters team.
"To better serve our guests, we’re prioritizing the need to work faster and reduce the complexity that has been created over time. This is especially important against the backdrop of a rapidly changing business landscape," Fiddelke said, adding the announcement "is an important step toward our key priorities: strengthening our retail leadership in style and design, enhancing the guest experience and expanding how we use technology to fuel our next chapter of growth."
Affected employees will receive benefits and pay through the beginning of January in addition to any severance they were offered, Target said.
Fiddelke said in a note to employees Thursday that since the company launched the Enterprise Acceleration Office in May, it has been pushing ahead with a mission to "move faster and simplify how we work to drive Target’s next chapter of growth."
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As the executive who has been overseeing the initiative since its launch, Fiddelke has been looking into ways to improve cross-functional collaboration and advance key priorities. This includes streamlining company-wide processes and leveraging technology and data in new ways to empower teams and accelerate performance since its launch.
"The truth is, the complexity we’ve created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life," Fiddelke said in the note to employees.
Fiddelke said all U.S. headquarters team members are being asked to work from home next week, but Target in India and its other global teams will follow their in-office routines.
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Fiddelke, who has been with Target for over two decades, said that while the decision to make these cuts was a difficult one, they will aim to "set the course for our company to be stronger, faster and better positioned to serve guests and communities for many years to come."
In Fiddelke's current role as Target’s chief operating officer, he has overseen efforts that enabled exponential growth across the business, including investments to build and scale the company’s stores, supply chain, digital capabilities and team. He also spearheaded enterprise efforts to deliver more than $2 billion in efficiencies.
Now, he is facing a new challenge of turning around a retailer that has been experiencing declining store traffic and profit pressures, partly due to tariffs.
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In its latest fiscal quarter, the company reported $25.2 billion in sales, down 0.9% from the same period a year ago. The company blamed the dip on shoppers pulling back on merchandise, though that was partly balanced out by stronger non-merchandise sales, like services.
Sales at stores open at least a year fell 1.9%, with in-store sales dropping more than 3%. Online sales, however, grew a little over 4%. Overall, operating income for the quarter came in at $1.3 billion, down about 19.4% from the same period a year ago.
https://www.foxbusiness.com/retail/target-cuts-1800-corporate-jobsSome Coca-Cola products are being recalled over the potential presence of foreign material in the products, according to federal officials.
About 1,115 units of Coca-Cola Zero Sugar 12-ounce cans in 12 and 35 packs, 2,322 units of Coca-Cola 12-ounce cans in 24 and 35 packs, and 791 units of Sprite 12-ounce cans in 12 and 35 packs are included in the recall, according to the Food and Drug Administration (FDA).
The products are considered Class II recalls, 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.
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Texas-based Coca-Cola Southwest Beverages LLC initiated the recall on Oct. 3, and the FDA issued the Class II classification a few weeks later.
FOX Business reached out to Coca-Cola for comment.
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A spokesperson for the company told Today that the recalled products were distributed in the McAllen/Rio Grande Valley and San Antonio areas of Texas. That's as far as the recall extended, the spokesperson said.
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All of the affected products were pulled from store shelves out of an abundance of caution by Oct. 10, the spokesperson added.
https://www.foxbusiness.com/lifestyle/coca-cola-recalls-3-popular-sodas-over-potential-foreign-material-contaminationTwo "no bulls---" brands have come together.
The National Hockey League and Nobull announced a multiyear partnership Thursday that makes Nobull the official training shoe of the league.
Hockey culture is one that exemplifies toughness and grit, much like Nobull, and majority owner Mike Repole said the partnership is a "perfect match."
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"You see them on the ice, but the real work is done in the training room," Repole said in a recent interview with FOX Business. "So the relationship with Nobull being a training brand, and the work that these NHL players do off the ice, whether it's in the weight room or cross-training, Nobull just becomes the perfect brand…
"When you talk about toughness and strength, hockey is the first sport that comes to mind."
Repole, a New York Rangers fan growing up, has had a longstanding relationship with the NHL, as the league's main drink sponsor is BodyArmor, which is also owned by Repole. So, perhaps this deal was easy for Repole to strike.
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But Repole is ecstatic to get the training brand, which already has Tom Brady on its list of spokespeople, to a new, fitting audience.
"The NHL's a no-bulls league, and Nobull is a no-bulls--- brand," Repole said. "We're not looking for people that are looking for easy and soft, and if you're going to play in the NHL, you can't play if you're easy or soft. It's about toughness. That's what hockey is about, and that's what Nobull is about."
Repole also mentioned Canada as an area where he, admittedly, does not do much business, but it's a region he is excited to tap into given the seven NHL teams in the country.
"We are proud to welcome Nobull to the NHL family through a partnership rooted in shared values and a relentless pursuit of excellence," said Jason Jazayeri, NHL group vice president of business development . "Together, we look forward to creating impactful content and experiences that bring this mindset to life for our fans."
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Players, coaches and staff of all 32 teams will be provided Nobull footwear. The brand will also gain prominent national exposure in the U.S. through ESPN and TNT broadcasts, including all Stanley Cup Playoffs and Final games.
https://www.foxbusiness.com/sports/nhl-nobull-sign-multiyear-partnership-makes-perfect-match-exemplifies-hockey-cultureEXCLUSIVE — Conservative activist Robby Starbuck spoke out about the "crazy" situation that prompted 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.
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"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."
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 José Castañeda said.
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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.
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"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."
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 existing efforts to combat political bias in its AI models and reduce the risk of "hallucinations" — made-up information — generated by the chatbot.
https://www.foxbusiness.com/media/robby-starbuck-why-he-sued-google-outrageously-false-information-through-artificial-intelligenceEXCLUSIVE: 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.
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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."
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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.
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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.
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"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."
https://www.foxbusiness.com/politics/apple-building-american-made-ai-servers-ahead-schedule-new-houston-facility-answering-trump-callOil 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."
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.
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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."
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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.
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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.
https://www.foxbusiness.com/economy/oil-prices-surge-trump-hits-russian-energy-giants-sweeping-new-sanctionsPresident 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.
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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.
Two crypto exchanges, Bullish and Gemini, founded by the Winklevoss Twins, went public this year, joining Coinbase.
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A sign of demand and support for the crypto industry is on the rise.
FOX Business' Anders Hagstrom contributed to this report.
https://www.foxbusiness.com/markets/trump-pardons-convicted-binance-founder-changpeng-zhaoRoblox 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.
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"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.
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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.
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"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.
MUTARE, Zimbabwe, October 23 (IPS) - Shamiso Marambanyika assists a male customer in selecting a pair of jeans on a Saturday morning in Mutare, a city in the eastern part of Zimbabwe.
https://www.globalissues.org/news/2025/10/23/41400 {"url":"https://static.globalissues.org/ips/2025/10/A-vendor-speaks-to-a-customer-at-a-second-hand-clothes-market-in-Mutare-Zimbabwe.-Photo-Farai-Shawn-Matiashe-100x100.jpg"}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.
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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.
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"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."
FOX Business’ Eric Revell contributed to this report.
https://www.foxbusiness.com/media/treasury-secretary-bessent-expects-consumer-prices-drop-starting-next-month-amid-economic-recoverySocial 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.
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"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.
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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."
"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.
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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.
https://www.foxbusiness.com/politics/should-social-security-cola-measured-senior-focused-inflation-metricCoca-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.
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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.
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"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.
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.
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FOX Business' Daniella Genovese and Alex Koch contributed to this report.
https://www.foxbusiness.com/retail/coca-cola-officially-rolls-cane-sugar-soda-us-markets-following-trumps-urging-reportTreasury 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.
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Bessent then accused Warren of displaying "Peronist views," a reference to a former president of Argentina, Juan Perón, 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."
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.
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"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.
https://www.foxbusiness.com/politics/bessent-fires-back-warrens-20b-argentina-deal-critique-invokes-infamous-fascist-leader