Zanzibar’s Battle to Save Endangered Turtles Intensifies as Global Study Exposes Deadly Microplastic Threat

Zanzibar’s Battle to Save Endangered Turtles Intensifies as Global Study Exposes Deadly Microplastic Threat

ZANZIBAR, Tanzania, November 25 (IPS) - On a warm morning at Matemwe, a small crowd gathers behind a rope barrier as the sand begins to tremble. A tiny head pushes through a soft mound of earth, then another, and another. Within minutes, the shallow nest—protected for weeks by a ring of wooden stakes and mesh—comes alive with the rustle of dozens of hatchlings. Volunteers crouch nearby, recording the emergence time and shading the small creatures with their hands to protect them from swooping gulls.

Read the full story, “Zanzibar’s Battle to Save Endangered Turtles Intensifies as Global Study Exposes Deadly Microplastic Threat”, on globalissues.org →

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Kohl's names Michael Bender as permanent CEO after a turbulent year and sales declinesKohl's has has multiple CEOs in recent years and is struggling with declining sales.{}

Kohl's has has multiple CEOs in recent years and is struggling with declining sales.https://www.cnbc.com/2025/11/24/kohls-picks-new-ceo-after-a-turbulent-year-and-sales-declines.html

Republicans push Obamacare tax credit alternatives as enrollment deadline loomsRepublicans are proposing alternatives to Obamacare enhanced tax credits, with the enrollment deadline just three weeks away.{}

Republicans are proposing alternatives to Obamacare enhanced tax credits, with the enrollment deadline just three weeks away.https://www.cnbc.com/2025/11/24/republicans-push-obamacare-tax-credit-alternatives-as-deadline-looms.html

Bonn to Belém: Three Decades of Promises, Half-Delivered Justice, and Rights-Based Governance Is Now Inevitable

Bonn to Belém: Three Decades of Promises, Half-Delivered Justice, and Rights-Based Governance Is Now Inevitable

DHAKA, Bangladesh, November 25 (IPS) - COP30 in Belém is not just another annual climate meeting, it is the 32-year report card of the world governance architecture that was conceived at the Rio Earth Summit of 1992. And that is what report card says: delivery has been sporadic, cosmetic and perilously disconnected with the physics of climatic breakdown.

Read the full story, “Bonn to Belém: Three Decades of Promises, Half-Delivered Justice, and Rights-Based Governance Is Now Inevitable”, on globalissues.org →

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The Role of Youths in Shaping UN’s Post 2030 Development Agenda

The Role of Youths in Shaping UN’s Post 2030 Development Agenda

KATHMANDU, Nepal, November 25 (IPS) - Less than five years from 2030 it is time for the international community to confront the future of the Agenda 2030 and its Sustainable Development Goals.

Read the full story, “The Role of Youths in Shaping UN’s Post 2030 Development Agenda”, on globalissues.org →

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Republicans push Obamacare tax credit alternatives as enrollment deadline loomsRepublicans are proposing alternatives to Obamacare enhanced tax credits, with the enrollment deadline just three weeks away.{}

Republicans are proposing alternatives to Obamacare enhanced tax credits, with the enrollment deadline just three weeks away.https://www.cnbc.com/2025/11/24/republicans-push-obamacare-tax-credit-alternatives-as-deadline-looms.html

COP30 Was Diplomacy in Action as Cooperation Deepens—Says Climate Talks Observer

COP30 Was Diplomacy in Action as Cooperation Deepens—Says Climate Talks Observer

BELÉM, Brazil, November 24 (IPS) - As observers at the Conference of Parties closely monitored proceedings in Belém, many, such as Yamide Dagnet, approached the UN Climate Summit as an implementation COP. They are advocating for tangible signals to ignite crucial climate action before the climate crisis reaches irreversible levels.

Read the full story, “COP30 Was Diplomacy in Action as Cooperation Deepens—Says Climate Talks Observer”, on globalissues.org →

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Eli Lilly hits $1 trillion market value, a first in health care, as Novo Nordisk tumblesThe pharmaceutical giant Eli Lilly's stock has been riding the skyrocketing demand for its weight loss injection Zepbound and diabetes treatment Mounjaro.{}

The pharmaceutical giant Eli Lilly's stock has been riding the skyrocketing demand for its weight loss injection Zepbound and diabetes treatment Mounjaro.https://www.cnbc.com/2025/11/21/eli-lilly-hits-1-trillion-market-value-first-for-health-care-company.html

'Wicked: For Good' soars to $150 million domestic openingUniversal's "Wicked: For Good" tallied an estimated $150 million domestic opening during its first three days in theaters.{}

Universal's "Wicked: For Good" tallied an estimated $150 million domestic opening during its first three days in theaters.https://www.cnbc.com/2025/11/23/universals-wicked-for-good-soars-to-150-million-domestic-opening.html

One market shift from ‘underwater’: Credit expert uncovers the real risks of 50-year mortgagesA 50-year mortgage rate is "risky" business, according to credit repair expert Micah Smith, who warns the idea could put Americans "one market shift away" from being underwater.

When the Trump administration floated the idea of a 50-year mortgage, credit solutions expert Micah Smith didn’t mince words.

"I was mortified," she told Fox News Digital. 

On paper, stretching a home loan over half a century promises lower monthly payments. In reality, Smith warns, it could trap millions of Americans — especially retirees and first-time buyers — in what she calls a "risky" deal that’s "one market shift away from being completely and totally underwater."

"My fear is that the 50-year mortgage is going to attract the unsavvy consumer, and someone who doesn't understand how finances work and how interest works," Smith said. "If you are in a 50-year mortgage, it's going to take you four times as long to build the equity in the home."

JEFFREY GUNDLACH SAYS CRACKS FORMING IN AMERICA'S MULTITRILLION-DOLLAR PRIVATE CREDIT MARKET

"It’s going to attract a consumer that's already struggling," she added. "There's going to be an even larger disparity, once again, between the wealthy and the poor. And I think the disparity is going to get even bigger with this 50-year mortgage."

In early November, President Donald Trump and administration officials signaled plans to develop a 50-year mortgage they believe could expand access to homeownership. Trump posted on Truth Social with a graphic showing "Great American Presidents," including Franklin D. Roosevelt, whose New Deal housing reforms helped pave the way for the modern 30-year mortgage, and himself, suggesting he will develop a 50-year version.

Federal Housing Finance Agency Director Bill Pulte added in a post on X that, "Thanks to President Trump, we are indeed working on The 50 year Mortgage – a complete game changer."

Under current rules, mortgages longer than 30 years generally do not qualify as "Qualified Mortgages" under the CFPB’s Ability-to-Repay rule, and FHA and GSEs currently allow 40-year terms only for loan modifications.

A UBS analysis found that a 50-year mortgage results in total interest payments equal to roughly 225% of the home’s price – more than twice the level under a 30-year loan. UBS also noted that with a 50-year term, borrowers would have paid down only about 11% of the principal after 20 years, highlighting how slowly equity builds over such an extended period.

"The people that are going to be helped are going to be the people who have a plan … a substantial plan for higher income coming down the line," Smith said, noting that those hurt most could be first-time homebuyers, retirees and even military families.

"My concern is definitely going to be for the older generations, the people who are already struggling, maybe living off of Social Security … If they don't have the ability to even fix the home that they have that they don't own, that is extremely concerning," she explained. "I think also for people who are perhaps in the military, I think that would also be a very scary situation because they have no ability to really build any equity whatsoever."

AMERICAN DREAM OF HOMEOWNERSHIP SLIPPING FURTHER OUT OF REACH FOR YOUNGER GENERATIONS

"We're already talking about first-time homebuyers in the younger generation, Generation Z, who's coming in with a lower credit score. So if they're jumping in at these 50-year mortgages, and they're not coming in even at premium tiers, that's a really scary thing," Smith continued.

The White House did not immediately respond to Fox News Digital’s request for comment.

Asked how a 50-year mortgage might change the way she coaches clients on budgeting, emergency funds or home maintenance, Smith emphasized saving as much as possible before buying.

"If you are budgeting now, you're gonna have to get even better at budgeting," Smith said. "You need to be setting aside money for a rainy day … If you can just put a little bit away, a little bit away, because again, that compounding interest is critical for wealth over a significant amount of time. And as of right now, we have not had any consumers ask us about the 50-year mortgage."

"However, I do teach realtors, investors, brokers all over the country, and they're the ones right now who [are] actually the most appalled by it," she claimed. "I have not heard one positive remark from one real estate agent yet … I think [there is] more of a positive response from some of the mortgage lenders, but we have to understand the narrative is going to be different depending on the motive."

Agreeing that a 50-year mortgage sounds like a lifetime commitment, Smith cautioned against a culture of instant gratification and the loss of long-term thinking.

"We live in a microwave society, and a lot of people fail to think about the long-term and I think that's what gets a lot of us in trouble … The mortgage is supposed to be something where it's like, you get it, you buy it, you pay it off, you own something."

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"You have to look at the long-term picture if you want to be successful," she said. "[The 50-year mortgage] really is a recipe for disaster in the long run."

When asked for one word to describe the idea as a whole, Smith didn’t hesitate: "Risky."

"You have to do the math. You have to do the numbers. And again, you are one market shift away from being completely and totally underwater. So I think the best word for it is absolutely risky."

READ MORE FROM FOX BUSINESS

FOX Business’ Eric Revell contributed to this report.

https://www.foxbusiness.com/markets/one-market-shift-from-underwater-credit-expert-uncovers-real-risks-50-year-mortgages

Watchdog group warns AI teddy bear discusses sexually explicit content, dangerous activitiesSales of an AI-powered teddy bear Kumma, marketed by a Singapore-based toy company, has been suspended after researchers found it discussing inappropriate sexual content.

Researchers with a consumer watchdog group said they discovered that an AI-powered talking teddy bear was capable of discussing inappropriate topics, including sexually explicit content and instructions for finding dangerous objects.

The $99 Kumma bear, manufactured in China and marketed by Singapore-based FoloToy, is powered by OpenAI’s GPT-4o chatbot. According to a Nov. 13 report from the Public Interest Research Group (PIRG), the bear discussed spanking, roleplay and even BDSM.

"We were surprised to find how quickly Kumma would take a single sexual topic we introduced into the conversation and run with it, simultaneously escalating in graphic detail while introducing new sexual concepts of its own," the report said.

"Kumma discussed even more graphic sexual topics in detail, such as explaining different sex positions, giving step-by-step instructions on a common 'knot for beginners' for tying up a partner and describing roleplay dynamics involving teachers and students, and parents and children — scenarios it disturbingly brought up itself," the report added.

CONCERNS OVER SPYING ON CHILDREN WITH SMART TOYS FLAGGED BY GROUP

Researchers also warned that the teddy bear offered other concerning guidance, including instructions on where to find knives, pills, matches and plastic bags in the house.

FoloToy CEO Larry Wang told CNN that the company will be "conducting an internal safety audit" after it reportedly removed the rest of its AI-enabled toys from sale.

EXPERTS WARN AI STUFFED ANIMALS COULD 'FUNDAMENTALLY CHANGE' HUMAN BRAIN WIRING IN KIDS

OpenAI told FOX Business Sunday that the company is suspending Folotoy for violations over the usage of ChatGPT in the toy products.

"We suspended this developer for violating our policies," OpenAI said. "Our usage policies prohibit any use of our services to exploit, endanger, or sexualize anyone under 18 years old. These rules apply to every developer using our API, and we monitor and enforce them to ensure our services are not used to harm minors."

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While PIRG noted that some conversations with Kumma lasted up to an hour, during which safeguards against harmful content can fail, the company told FOX Business Sunday that significant progress has been made in GPT-5’s reliability over long conversations. OpenAI also stressed that GPT-4o is no longer the default model powering ChatGPT. 

FoloToy did not immediately respond to a request for comment from FOX Business.

https://www.foxbusiness.com/lifestyle/watchdog-group-warns-ai-teddy-bear-discusses-sexually-explicit-content-dangerous-activities

The G20 has Failed on Debt. Time to Look to the UN

The G20 has Failed on Debt. Time to Look to the UN

YAOUNDE, Cameroon / BARCELONA, Spain, November 24 (IPS) - When South Africa assumed the Presidency of the G20, debt sustainability was placed front and centre, with the promise to launch a Cost of Capital Commission. Many hoped that, with an African country at the helm, the G20 would finally deliver real solutions to the debt crisis gripping the Global South – particularly Africa.

Read the full story, “The G20 has Failed on Debt. Time to Look to the UN”, on globalissues.org →

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Beef prices are close to record highs — but Americans aren’t cutting backAmericans spent $40 billion on fresh beef in 2024 despite record prices. Economists explain why strong demand keeps pushing grocery store costs higher.

Beef prices have climbed to record highs, and yet Americans keep buying steaks.

Economists say that deep-rooted demand is helping drive prices higher and there’s little sign it will ease anytime soon.

Glynn Tonsor, a professor of agricultural economics at Kansas State University, told Fox News Digital that strong consumer demand continues to push beef prices upward, regardless of supply fluctuations.

TRUMP ORDERS DOJ TO INVESTIGATE MEATPACKING COMPANIES FOR 'ILLICIT COLLUSION' AMID RISING BEEF PRICES

"There’s nothing that forces me or you or anybody else when we go into the grocery store to pay more for beef. People are choosing to," he said. 

"The consumer desire for beef is strong and, regardless of the supply-side situation, that has the effect of pulling prices up."

According to USDA data, the average price of beef in grocery stores climbed from about $8.40 per pound in March to $9.18 per pound by August 2025, a roughly 9% increase over that period.

Americans are still buying, though, in fact, more than ever. 

In 2024, shoppers spent over $40 billion on fresh beef, which made up more than half of all fresh-meat sales, according to data from Beef Research, a contractor to the National Cattlemen’s Beef Association.

BESSENT WARNS 'PERFECT STORM' BREWING FOR BEEF PRICES

Industry analysts say that while beef supplies are expected to get even tighter in 2025, prices could climb a bit higher.

Despite those pressures, economists like Tonsor say Americans’ loyalty to beef remains unmatched and that large-scale production is part of what keeps it within reach for consumers.

"I would argue that those economies of scale benefit consumers," Tonsor said. "The ability to operate at a cheaper cost per head and, ultimately, per pound produced gives us the ability to offer beef and every other item we’re talking about at a cheaper price. Anything we do that loses those economies of scale actually hurts consumers in the form of higher prices."

But even with strong consumer appetite keeping the market buoyant, ranchers are facing challenges on the other end of the supply chain.

TRUMP'S BEEF IMPORT PLAN IGNORES KEY ISSUE SQUEEZING AMERICAN CATTLE RANCHERS

While strong demand is one reason beef prices remain high, supply is another. 

Years of drought, high feed costs and an aging ranching population have thinned herds across the country, leaving the U.S. cattle supply at its lowest level in more than 70 years.

Derrell Peel, a professor of agricultural economics at Oklahoma State University, said the current supply crunch won’t be fixed overnight.

"The fact of the matter is there’s really nothing anybody can do to change this very quickly," Peel said. "We’re in a tight supply situation that took several years to develop, and it’ll take several years to get out of it."

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He noted that there’s no quick way to ease pressure on cattle prices, since it takes roughly two years to bring animals to market and several years to rebuild herds.

Meanwhile, the Trump administration says it’s working to bring down beef prices by boosting supply through more imports from countries like Argentina, while laying the groundwork for a long-term plan to strengthen the U.S. cattle industry.

https://www.foxbusiness.com/politics/beef-prices-close-record-highs-americans-arent-cutting-back

IRS to roll out Salesforce AI agents following workforce reduction: reportIRS deploys Salesforce AI agents across divisions after massive staffing reductions, aiming to help overworked staff process requests faster and more efficiently.

The Internal Revenue Service (IRS) is implementing a Salesforce artificial intelligence (AI) agent program across multiple divisions in the wake of a mass workforce reduction earlier this year, according to a report.

The tax-collecting agency will deploy Agentforce in the Office of Chief Counsel, Taxpayer Advocate Services and the Office of Appeals, Salesforce executive vice president of global public sector solutions Paul Tatum told Axios in a report published Friday.

The announcement comes after the IRS slashed its workforce by at least 25% earlier this year as the Trump administration worked to shrink the size of the federal government.

Tatum said the AI agents are built with "a lot of guardrails" and are not authorized to make "final decisions" or "disperse funds."

AI COULD DRIVE US UNEMPLOYMENT TO 20%, SENATORS WARN AS NEW BILL TARGETS JOB TRACKING

"Salesforce doesn't advocate for a blind AI processing tax returns without a human being involved in reviewing and supplementing it," he told the outlet.

The program is designed to help overworked IRS staff process customer requests more quickly and efficiently, Tatum added.

FOX Business reached out to the IRS and Salesforce for comment but did not immediately receive a response.

IRS WORKFORCE SLASHED IN HALF AS GOVERNMENT SHUTDOWN SHOWDOWN STRETCHES INTO SECOND WEEK

Rob Fitzpatrick, senior counsel in the IRS Office of Chief Counsel, said the agency began modernizing its decades-old systems in 2023. He called the move to AI both inevitable and competitive.

"I think all of us have to realize that the change is coming," Fitzpatrick told Axios, adding the layoffs likely stemmed from multiple factors. "You either adopt the change and make yourself more efficient so you can produce more work, or you don't—and you leave."

Alongside this year’s layoffs, the IRS said it was also disbanding its Office of Civil Rights and Compliance, which handles discrimination protections, audits and investigations. Remaining staff were reassigned.

At the start of President Donald Trump’s second term, the IRS employed about 100,000 people. Since then, roughly 12,000 have left — 7,000 fired during probation and another 5,000 departing within Trump’s first three months in office.

By contrast, the Biden administration had previously expanded the IRS workforce by about 20,000 to increase the amount of tax revenue collected by the agency.

Fox Business’ Daniella Genovese and Eric Revell contributed to this report.

https://www.foxbusiness.com/technology/irs-roll-out-salesforce-ai-agents-following-workforce-reduction-report

Unpacking COP30’s Politically Charged Belém Package

Unpacking COP30’s Politically Charged Belém Package

BELÉM, Brazil, November 23 (IPS) - Following tense, nightlong negotiations and bitter rows between more than 190 country delegations, a “politically charged Belém package” was finally forged at COP30—so named because of the highly contentious and difficult-to-negotiate issues within the climate talks.

Read the full story, “Unpacking COP30’s Politically Charged Belém Package”, on globalissues.org →

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From milking stalls to mobile apps: UN-supported project powers rural revival in Indonesia

From milking stalls to mobile apps: UN-supported project powers rural revival in Indonesia

In the rolling hills of Indonesia’s West Java province, thousands of farmers are reaping tangible benefits from the digitization of their businesses and improved access to finance, thanks in part to a United Nations‑supported project.

Read the full story, “From milking stalls to mobile apps: UN-supported project powers rural revival in Indonesia”, on globalissues.org →

https://www.globalissues.org/news/2025/11/23/41722 {}

Majority of UK entrepreneurs say British government is ‘anti-business,’ new survey showsU.K. entrepreneurs survey shows loss of confidence in Labour government with 63% calling it anti-business. Zero business leaders would vote Labour in new survey findings.

Britain’s reputation as a country full of get-up-and-go seems to have got up and left the kingdom. Much of the blame for that falls on British Prime Minister Keir Starmer and his colleagues, who led the left-leaning Labor Party to an epic victory in the middle of last year, but the landslide win hasn’t been good for the British economy.

The truth is that Britain’s primary income deficit — the difference between what the government raises from taxpayers compared to what it spends, excluding debt payments — has deteriorated rapidly over the last few years. In this year’s second quarter, the primary deficit totaled 16.8%, more than double the deficit in the fourth quarter of last year and the worst showing since the second quarter of 2023, according to government data.

"The biggest problem is the current British government is remorselessly negative," said Alan Mendoza, executive director of the Henry Jackson Society, a London-based think tank. "That’s not an environment to encourage investment."

UNCLE SAM TO THE RESCUE. TRUMP HELPS OUT THE UK WITH A $350 BILLION TECH DEAL 

In many ways, that negatively explains why many foreign investors have now openly stated they won’t invest in Britain.

Contrast the approach with that of the current U.S. administration, which is more than friendly to business owners and corporate chieftains. "In America, one thing President Trump has done is to say, ‘USA, USA, USA,’" Mendoza said. In other words, the U.S. president cheerleads America’s businesses. 

The difference in foreign investment between the U.S. and the U.K. is massive. Foreign Direct Investment in America, which involves setting up companies, increased by $83 billion in the second quarter this year. Compare that with the U.K., which saw FDI decline by 5.6 million British pounds ($7.3 million) during the same period, according to data from Trading Economics. That is clear evidence that the U.S. is far more attractive to investors.

But there are other concerns in Britain besides negativity, such as questions about the government’s policies, which seem to flip-flop with alarming regularity.

Week after week, there’s been massive uncertainty about the forthcoming U.K. budget, Mendoza said. Many critics say he's not wrong to be concerned because there are day-to-day whispers among the political class about whether U.K. Chancellor Rachel Reeves (the equivalent of treasury secretary) is about to jack up tax rates and break the party’s election manifesto. "That doesn’t encourage the U.K. as a place to invest in," he said.

Requests for comments from the chancellor's office were not answered.

STARMER’S DIGITAL ID WORK REQUIREMENT SPARKS UPROAR FROM UK'S LEFT AND RIGHT

There’s broad distaste with the economic environment among U.K.-based entrepreneurs. Almost two-thirds (63%) of entrepreneurial business leaders said they believe the British government is anti-business, according to a survey released Friday by Helm, a community of high-growth business founders.

"A year ago, our members were saying they were planning on hiring," said Andreas Adamides, CEO of Helm. But before they got round to hiring, the Labor government decided that employers would face an increase in national insurance (similar to U.S. FICA payments). "Once national insurance was set to increase, that goal of hiring flipped around," he said. Effectively, it’s an increase in tax on companies that want to hire people. And of course, that tends to lead to fewer available jobs.

Other data from Helm shows that zero members of the organization would vote for the Labor Party. "I was surprised it was zero." Separately, only 6% said they would vote for the right-leaning Conservative Party. Approximately three-fifths (58%) of the members were undecided, according to the survey.

The concerns of British entrepreneurs aren’t just about money and government policies, Adamides said. There is always a serious downside to starting a new business. Business successes tend to get hyped in newspapers, but things don’t work out that way for everyone.

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"If a founder starts a new business, they have likely risked it all to build something meaningful," he said. "They don’t tend to have a proper pension, and if they do well with growing the business, then they can get hit with high capital gains taxes."

"I have seen a founder commit suicide in recent times," Adamides said. "The man’s company was built over 20 years, and he lost his home and business and ended his life. It is not a matter that they didn’t make it big."

https://www.foxbusiness.com/fox-news-world/majority-uk-entrepreneurs-say-british-government-anti-business-new-survey-shows

Who is John Furner, Walmart’s newly named CEO?John Furner is being promoted to Walmart's global CEO after leading U.S. operations since 2019. He started his Walmart career as a summer intern.

The top executive of Walmart U.S. is getting a promotion.

John Furner, who has led the nation’s largest private employer since 2019, will become Walmart’s global CEO in February, overseeing all the company’s international divisions. He will replace Doug McMillon, who announced that he will retire in January after more than a decade leading the retailer.

Furner rose from a summer intern working for Walmart in Mexico to being appointed to the head of marketing and merchandising for Walmart China, based in Shenzhen in 2011. In 2017, he was appointed to lead Walmart's membership warehouse, Sam’s Club, before rising to the helm of Walmart's U.S. division two years later.

In an industry often characterized by rapid change and relentless competition, Furner has been recognized for his collaborative leadership style. Walmart credited him with championing employee development, digital innovation and operational excellence throughout his tenure. 

WALMART US CEO JOHN FURNER: HOW HE LEADS THE NATION'S LARGEST PRIVATE EMPLOYER

In a 2024 interview with FOX Business, Furner said a pillar of his leadership involves creating a network of people he can listen to for advice, especially during difficult times. Furner also learned that understanding one's weaknesses and knowing when to look to others for help underpins a good leader.  

"It's important to recognize who you are and what you bring in the environment. And that cannot be everything," he said. "A lot of situations come up that I'm calling someone on my team or asking who they know in the world that has thought through the type of situation we're facing and go get help and advice."

WALMART CEO TO RETIRE IN JANUARY

There are instances when problems can be solved internally, but there are just as many times when a person has "to listen externally," Furner said. "A lot of times in the morning, in the evening, I'm listening to what's going on externally and just trying to keep perspective."

Part of this work means visiting the companies' locations and speaking to associates to understand what problems they are facing. Walmart U.S. has a workforce of 1.5 million across more than 4,700 stores.

His next role will include overseeing more than double that number. For instance, Walmart Inc. has a global footprint of over 10,750 stores and clubs worldwide, operating in 19 countries, and employs roughly 40% more people globally than in the U.S. alone.

WALMART INCREASES GROCERY DISCOUNTS AMID ECONOMIC HEADWINDS

Though the chief executive believes it takes a team to run Walmart U.S., whose net sales reached $441.8 billion for fiscal 2024, Furner credits his personal life – from working on his grandfather's Arkansas farm to learning how to play the guitar – for shaping his business acumen. 

Furner credited his years of playing the guitar for his ability to listen and think more strategically. But working on his grandfather's farm in Arkansas, he said, taught him the importance of hard work and how to find solutions to problems with little means. 

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"I learned with him that the animals don't take Sundays and Saturdays and Wednesdays off. They're always up," he said. "You get up early in the morning, you go drive the fence line to make sure that a cow hasn't pushed his way through. In the afternoon, you pulled things out of the garden, and then you drove into town.… He sold watermelons and cantaloupes and everything you can imagine."

https://www.foxbusiness.com/business-leaders/who-john-furner-walmarts-newly-named-ceo

Tori Spelling, Dean McDermott’s divorce settlement reveals $1.7M in unpaid taxes and debtCelebrity couple Tori Spelling and Dean McDermott officially divorced after 18 years of marriage, facing over $1.7 million in combined debts and custody arrangements.

Tori Spelling and Dean McDermott's divorce exposed more than $1.7 million in debt for the former reality TV couple.

Spelling and McDermott owe more than $1.7 million in unpaid federal and state taxes, according to the final judgment filed in the ex-couple's divorce. About $1.2 million is owed by the former couple to the IRS, the document obtained by Fox News Digital read. Each will be responsible for a minimum of $600,000 of the debt.

Spelling and her ex-husband also owe more than $500,000 in unpaid taxes to the California Franchise Tax Board. This debt will also be split evenly between the former partners.

According to the judgment, Spelling and McDermott owe several additional debts.

JENNIFER LOPEZ, BEN AFFLECK DIVORCE PUTS MILLIONS OF DOLLARS ON THE LINE

Spelling and McDermott are responsible for about $37,000 tied to an American Express collection account. The two still owe a balance to City National Bank, which sued them in 2016. 

The "Beverly Hills, 90210" star also owes $288,000 to a private individual, $69,000 to another unidentified individual and $10,228 in uninsured medical expenses.

McDermott owes $22,000 from a student loan and $20,609 in his own uninsured medical bills.

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Spelling and McDermott first met on the set of "Mind Over Murder." At the time, the two were married to other people. They eventually began a romantic relationship and got married in 2006.

The two brought their family life into the spotlight with the show "Tori & Dean: Inn Love." The show followed the couple as they started a family. They welcomed five children throughout their marriage — Liam (2007), Stella (2008), Hattie (2011), Finn (2012), and Beau (2017).

Spelling and McDermott faced financial scrutiny in the final years of their marriage. The "90210" star filed for divorce in March 2024 and McDermott followed suit months later. The Canadian actor cited "irreconcilable differences" as the reason for his split from Spelling and marked the date of separation as July 7, 2023, in a document filed in Los Angeles County Superior Court.

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The court entered a final judgment in the couple's divorce on Nov. 13, marking the two as legally single. Spelling and McDermott were granted joint legal custody of their five children, with the actress having substantially more physical time spent with the kids.

McDermott ended up choosing not to pursue spousal support and the two decided to waive the court's right to modify the decision in the future. They also took a different approach to child support. Each will cover the children's expenses when in their care and split healthcare or extracurricular costs equally.

The court awarded Spelling the intellectual property rights to "BH90210" entirely. All income streams tied to the hit show — including SAG-AFTRA residuals, digital royalties, or future licensing — go to Spelling alone, and McDermott has no continuing claim to those earnings.

Older "Tori & Dean" projects were shared 50/50 between the former couple. Those included "In Love/Home Sweet Hollywood," "sTORIbook Weddings," "Cabin Fever," "True Tori," and "Cooking Channel Specials."

CLICK HERE TO READ MORE ON FOX BUSINESS

https://www.foxbusiness.com/entertainment/tori-spelling-dean-mcdermotts-divorce-settlement-reveals-unpaid-taxes-debt

'Stakes are high.' With shutdown over, airlines predict record numbers of travelers this ThanksgivingAirline executives are hoping for a smooth Thanksgiving after a rocky fall because of the government shutdown.{}

Airline executives are hoping for a smooth Thanksgiving after a rocky fall because of the government shutdown.https://www.cnbc.com/2025/11/23/thanksgiving-air-travel-after-shutdown.html

Some international airlines cancel Venezuela flights after FAA warning over safety concernsMajor international airlines canceled Venezuela flights starting Saturday after the FAA warned of a "potentially hazardous situation" amid escalating tensions and military activity.

A number of international carriers canceled flights to and from Venezuela Saturday after a warning from the Federal Aviation Administration (FAA) of a "potentially hazardous situation" in the region.

TAP Air Portugal said it had canceled its flights through Caracas for Saturday and Tuesday, telling Reuters, "This decision follows information issued by the United States aviation authorities, which indicates that safety conditions in Venezuelan airspace are not guaranteed."

Iberia Airlines of Spain said it was canceling its flights to Venezuela indefinitely starting Monday.

"The company will assess the situation to decide when to resume flights to that country," the airline told Reuters.

US MILITARY BUILDUP IN CARIBBEAN SEES BOMBERS, MARINES AND WARSHIPS CONVERGE NEAR VENEZUELA

South American airlines Gol out of Brazil and Colombia's Avianca also canceled their Caracas flights Saturday.

Colombia’s Civil Aviation Authority said in a statement there were "potential risks" in continuing to fly to the Maiquetia area of Venezuela, near Caracas.

Caribbean Airlines and Chile’s Latam Airlines have also decided to stop flying to Venezuela for now after the warning, Bloomberg reported.

The FAA urged airlines to "exercise caution" in the region as tensions have escalated between the U.S. and Venezuela and the U.S. has increased its military presence in the region.

"Operators are advised to exercise caution when operating in the Maiquetia flight information region at all altitudes due to the worsening security situation and heightened military activity in or around Venezuela," the FAA advisory said. 

"Threats could pose a potential risk to aircraft at all altitudes, including during overflight, the arrival and departure phases of flight and/or airports and aircraft on the ground," it added. It asked airlines to provide at least 72-hour advance notice to the FAA if they plan to fly through the area.

Direct flights from U.S. passenger and cargo carriers to Venezuela have been suspended since 2019, but some airlines still fly over the country on their South American routes, according to Reuters. 

Delta and United both reiterated this week that they stopped flying routes over Venezuela months ago.

Reuters contributed to this report.

https://www.foxbusiness.com/fox-news-world/some-international-airlines-cancel-venezuela-flights-after-faa-warning-over-safety-concerns

New ‘cash law’ could force Walmart and Costco to take your money the old-fashioned wayOhio lawmakers weigh bill requiring businesses to accept cash payments up to $500, potentially forcing retailers like Target, Costco and Walmart to change.

Ohioans could soon be shopping like it's 1999 if legislators pass the Currency Access to Spend Here (CASH) bill, which would require businesses and government offices to accept cash for payments up to $500.

The bill would require businesses and government entities to provide at least one point-of-sale location that accepts cash. Additionally, it bans them from charging those using cash for a transaction a higher price than those using other payment methods.

TARGET SLASHES PRICES ON THOUSANDS OF ITEMS IN BID TO REVIVE SLIPPING SALES

"It's simple, cash is the basis for business in America. Our taxpayers should always have the ability to use cash in their daily lives," said Ohio state Rep. David Thomas (R-Jefferson), who introduced House Bill 554.

"I hear from residents who may not trust virtual payment options or just prefer to use physical cash. This bill balances the needs of government and business to be efficient with the ability to still rely on physical currency," Thomas added.

COSTCO RECALLS POPULAR READY-TO-EAT FOOD ITEMS OVER PLASTIC CONTAMINATION CONCERNS

As retailers, such as Target, Walmart and Costco move towards self-checkout methods that often do not accept cash, this could mean some major changes to their strategy. However, it may not necessarily mean hiring more staff, as the bill states that the cash point-of-sale can be "automated or operated by a person."

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Thomas' bill mirrors one that Sen. John Fetterman, D-Pa., and Sen. Kevan Cramer, R-N.D., introduced, known as the Payment Choice Act of 2025. Their bill would also require businesses to accept cash and bar them from charging a higher price to those who chose to pay in cash.

Fox Business reached out to Target, Walmart and Costco for comment.

https://www.foxbusiness.com/politics/new-cash-law-could-force-walmart-costco-take-your-money-old-fashioned-way

Amazon recall: Children’s items pulled nationwide over risk of fatalitiesChildren's play yards that were sold on Amazon are being recalled due to a "risk of serious injury or death from suffocation and entrapment hazards."

Children’s play yards that were sold on Amazon are being recalled due to a "risk of serious injury or death from suffocation and entrapment hazards," according to the U.S. Consumer Product Safety Commission (CPSC). 

The items, which were manufactured in China by the retailer Anna Queen, "violate the mandatory standard for play yards," the agency said in a recall notice. 

"Infants can become entrapped under the mattress or between the side of the play yard and the mattress, posing a risk of serious injury or deadly suffocation hazard," CPSC said. 

"Consumers should immediately stop using the recalled play yards and contact Anna Queen for a full refund," it added. 

KIA AND HYUNDAI ISSUE MAJOR RECALLS FOR OVER 335,000 VEHICLES DUE TO FUEL TANK MELTING RISK 

The play yards were sold on Amazon beginning in March 2025 for around $100. 

To date, there have been no incidents or injuries reported.

"This recall involves play yards that have black fabric sides and mesh panels bordered in gray. The top rails are covered with white fabric with a multi-colored print with bear faces, paws and the word ‘bear,’" the CPSC said.  

COSTCO RECALLS POPULAR READY-TO-EAT FOOD ITEMS OVER PLASTIC CONTAMINATION CONCERNS 

"The play yards include a mattress with the same bear print," it continued, noting that, "’Model: P700’ and ‘Production Date: 202503’ are printed on the packaging and on a removeable tag included with the play yard." 

About 70 affected units were sold. 

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"Consumers should disassemble the fabric cover from the play yard frame, cut up the cover and mattress pad and email a photo of the destroyed play yard" to an address associated with the retailer, the CPSC advised, "to obtain a full refund." 

https://www.foxbusiness.com/lifestyle/amazon-recall-childrens-items-pulled-nationwide-over-risk-fatalities

'Wednesday' star lists Los Angeles home for $2.7M with sweeping downtown city views"Wednesday" star Riki Lindhome lists her stunning Culver City home for $2.7 million. The 2,311-square-foot property features four bedrooms and sweeping LA views.

"Wednesday" star Riki Lindhome's Los Angeles home is on the market.

The 2,311-square-foot home in Culver City is listed for $2.7 million with real estate agent Debbie Weiss of Compass.

"This extraordinary home spoke to me immediately. I felt like it was a time-capsule in the heart of Los Angeles, and just so special. The moment I walked through the door, I felt an instant connection, a pull that told me that this was the one," Lindhome said in a statement.

"The sweeping views of the city skyline and Hollywood Hills, the charming Jack and Jill bedroom, and the way the hallway, kitchen and family room all have windows looking into the pool yard — it was really love at first sight," she added.

'WEDNESDAY' STAR JENNA ORTEGA STUNS IN REVEALING PURPLE GOWN WITH THIGH-HIGH SLIT AT AWARD SHOW

Originally built in 1961, the home features four bedrooms and three bathrooms with some modern updates throughout, including a revamped saltwater pool and a fire pit.

"I just want to float in that saltwater pool like Benjamin Braddock in 'The Graduate,'" Weiss said in a statement. "It feels locked in a time capsule and I'm so grateful it has been so beautifully maintained!  I hope whoever buys it takes the same care to restore and keep all its original character as Riki has."

Resting on a hilltop, the house offers views of downtown Los Angeles, the Griffith Observatory and the Hollywood Hills. It's just a few minutes away from Blair Hills Park, Stoneview Nature Center, the Park to Playa trail and other iconic Los Angeles landmarks.

"This home became my sanctuary. A great escape once you drove up the hill, rounded the corner and walked through the doors it always felt like an exhale," Lindhome said. "Its timeless mid-century design, perfectly preserved, has a magic that's hard to put into words but I enjoyed it so much while I lived there. As I prepare to pass it on to its next caretaker I hope they'll feel the same spark I did!"

Lindhome is best known as one half of the musical-comedy duo, Garfunkel and Oates, who are known for their witty, often satirical songs. In addition to singing, Lindhome also has a prolific acting career, appearing as a guest star on numerous shows, including "Gilmore Girls," "New Girl" and "Grace and Frankie."

In 2022, she starred in the hit Netflix show, "Wednesday," playing Dr. Valerie Kinbott, the therapist Wednesday Addams is ordered by the courts to see.

The show also stars Jenna Ortega as the title character and Catherine Zeta-Jones as Morticia Addams.

"She's one of the funniest people I have met. I don't think she gets enough credit for that. She's unbelievable," Ortega told "Good Morning America" in August about working with Zeta-Jones. "If she's ever not funny, it's because she needs, like, a piece of chocolate."

Season 2 featured Zeta-Jones in a larger role and focused more on the complicated mother-daughter relationship between Morticia and Wednesday.

As a mother, Zeta-Jones said she related to the struggles between Morticia and Wednesday, noting that the instinct to protect children from mistakes is "a parenting thing, not just a Morticia thing."

"It’s not putting an old head on young shoulders," she told The Hollywood Reporter in September. "I do it with my own kids, and my kids have no Wednesday-isms at all, but you sometimes need them to make those mistakes to be able to learn. As much as you want to put them in a glass box and protect them forever, you need them to understand by themselves."

https://www.foxbusiness.com/fox-news-entertainment/wednesday-star-lists-los-angeles-home-2-7m-sweeping-downtown-city-views

Trump claims California's $20 fast-food minimum wage hurts businesses. The truth is a lot more complicatedThe restaurant industry predicted disaster after California instituted a $20 minimum wage for fast-food workers, but data shows that hasn't happened.{}

The restaurant industry predicted disaster after California instituted a $20 minimum wage for fast-food workers, but data shows that hasn't happened.https://www.cnbc.com/2025/11/22/trump-california-20-fast-food-minimum-wage.html

‘Leave no one behind’: As wealth gap widens, UN calls for new industrial deal for world’s poorest

‘Leave no one behind’: As wealth gap widens, UN calls for new industrial deal for world’s poorest

Ministers and leaders from across the world’s 44 least developed countries have pledged to accelerate industrialisation that benefits all, and strengthen resilience in the face of global challenges, at an international UN conference in Riyadh, Saudi Arabia.

Read the full story, “‘Leave no one behind’: As wealth gap widens, UN calls for new industrial deal for world’s poorest”, on globalissues.org →

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New car prices soar to historic high as buyers face mounting sticker shockCar prices are nearing a historic milestone as the average cost of a new vehicle approaches $50,000, with buyers facing $766 monthly payments and rising interest rates nationwide.

Car prices are trending up and the average cost of a new car is at an all-time high, approaching the $50,000 mark for the first time.

The average transaction price for a new vehicle in October was $49,105, according to data from Edmunds. That represents a year-over-year increase of 3.1%.

"This has been something that we've all been waiting for, I don't think anyone was ever expecting the number to go down," Ivan Drury, director of insights at Edmunds, told FOX Business. "It coincided with a high share of EVs being sold, so naturally, EVs being more expensive it kind of pushed us over the edge."

"Strip all that away, there's virtually no vehicle you can buy today that is cheaper than it was from last year, two years ago, five years ago," Drury said. "The average age of trade-in towards a new car is like five and half to six years old right now. People who bought in 2020 and 2019, and especially 2019 for prices, they're definitely in for sticker shock."

US HOUSEHOLD DEBT HITS A NEW RECORD, NY FED FINDS

"If you're a customer with a trade-in, and you haven't been to the dealership for anything other than service in six years, you're going to be floored by seeing the average transaction price being nearly $10,000 more than the last time you bought," Drury added.

Average monthly payments on new vehicles sold in October saw a similar increase of 3.2% from a year ago and amount to $766 per month. Interest rates ticked slightly lower, as the average APR declined from 7% to 6.9% in October.

NEW CAR DOWN PAYMENTS HIT 4-YEAR LOW AS BUYERS STRUGGLE WITH AFFORDABILITY CHALLENGES

Drury said that there has been a noticeable downward trend with interest rates on new auto loans below 7% for the first time since last December, but noted that car shoppers with a six-year-old car likely had a loan that was around 4% or 5% – meaning a new auto loan will be noticeably more expensive to finance.

"The average interest paid over the life of a loan today, your average amount to be financed at $43,000; a 72-month term is the most frequent; you're looking at like $9,500 in interest alone – so you're not even paying for the car at that point, that's a privilege to borrow," Drury said.

HERE'S WHY THE AVERAGE US CREDIT SCORE IS FALLING

Auto dealers have increased the average discount available to buyers, though those have offered modest relief. The average discount was $1,985 in January, hit its highest level of the year to date at $2,262 in June, and was $2,240 in October.

"For dealerships, they are resorting back to providing discounts. They are getting money from automakers to put cash on the hood," Drury said.

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"The average vehicle is sitting on a lot for about 60 days, which is considered acceptable for industry standards. But it also touches upon time on the lot, which dealers don't want them sitting there that long because, while it's acceptable – optimal is, of course, lower, the fewer days on the lot, the better for them," he said.

https://www.foxbusiness.com/economy/new-car-prices-soar-historic-high-buyers-face-mounting-sticker-shock

Celebrity realtor Mauricio Umansky slams Los Angeles mayor over ‘tremendous mistake’ on rent controlCelebrity realtor Mauricio Umansky slams Los Angeles rent control as 'tremendous mistake' on Fox Business, arguing policy fails to solve housing crisis.

Celebrity realtor Mauricio Umansky, founder and CEO of The Agency, didn’t hold back during an appearance on FOX Business’ "Varney & Co.," slamming Los Angeles Mayor Karen Bass (D) for what he called a "tremendous mistake" in doubling down on rent control. 

The city recently imposed a new 4% cap on annual rent increases for certain rent-stabilized units – a move the mayor says will protect tenants from steep price hikes. Umansky argued while the policy might sound good politically, it does nothing to solve the city’s long-term housing crisis.

"What rent control does is give short-term relief to owners, to renters, but it does not resolve the problem," Umansky told host Stuart Varney. 

"The problem is solved by capitalism, and the problem is solved by having more supply," he said. 

FORMER OBAMA OFFICIAL FREAKS OUT AT CALIFORNIA DEMOCRAT OVER HER RECORD AMID HOUSING CRISIS DEBATE

Umansky, who built a real estate empire representing some of the world’s most exclusive listings, said California’s development restrictions are driving prices higher and strangling growth. He urged state and local leaders to focus instead on expanding supply through construction incentives and deregulation. 

"We need to fix the long-term problem," he said. "Cut the red tape, increase supply, give tax incentives to builders so that we have a larger supply. The larger supply and the lesser demand lowers prices, creates affordability."

Umansky also took aim at California’s proposed wealth tax, warning that the state’s increasingly heavy-handed fiscal and regulatory policies are chasing away businesses and families alike. The wealth tax targets the ultra-wealthy, applying to individuals with a net worth above $50 million at a rate of 1% and to those with a net worth exceeding $1 billion at 1.5%. The intent is to generate revenue for housing, education, and social programs while addressing wealth inequality. However, critics warn that it could drive high-net-worth individuals and their businesses out of the state, potentially reducing tax revenue and overall economic activity.

"I think what made the country great was the freedom of capitalism, the freedom to compete and the freedom to do things," he said. "The middle income is fleeing to a more affordable places like Arizona, Texas, Florida, and we're continuing to see that. " 

According to the U.S. Census Bureau migration data, California has experienced a consistent net outflow of residents in recent years, with nearly 340,000 people leaving the state between 2022 and 2023. 

When asked whether a Republican could win statewide office in California, Umansky was doubtful but expressed hope for more centrist leadership. 

NEWSOM JUST MADE A CATASTROPHIC MISTAKE ON CALIFORNIA’S HOMELESSNESS DISASTER

"I would love to see that," he said. "Maybe we can find some sort of a middle ground and get … an independent that that gets in there, that has a good monetary policy that understands … how to resolve … how to have a balanced budget … how to have safety." 

California hasn’t elected a Republican governor since Arnold Schwarzenegger in 2006. Umansky suggested that breaking the state’s partisan gridlock might take someone outside traditional party lines.

Varney pressed him further on Gov. Gavin Newsom’s rumored 2028 presidential ambitions, asking whether Newsom could convince the rest of America that the country should "look like California." 

Umansky was quick to point out the state’s ongoing problems.

GAVIN NEWSOM DECLARED AS THE DEMOCRATIC PARTY'S 2028 'FRONTRUNNER' BY POLITICO

"He's certainly a very charismatic man … but there's a lot to prove still in California. You can't just run on your … charisma and your good looks," he said. "We have affordability issues, we won't have a balanced budget. We don't have safety, we don't have a good lifestyle."

Umansky’s message was clear. California’s policies, from rent control to taxes, are pushing away the very people who once made it thrive. He argued that only by unleashing market forces and supporting builders can the state restore its reputation as a place of opportunity and prosperity. 

"Homeownership … creates safety in communities," he said. "We need to bring business back to California. We need to have people be happy in California and stay here."
 

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https://www.foxbusiness.com/real-estate/celebrity-realtor-mauricio-umansky-slams-los-angeles-mayor-over-tremendous-mistake-rent-control

Kia and Hyundai issue major recalls for over 335,000 vehicles due to fuel tank melting riskA vehicle recall affects over 250,000 Kia K5 sedans and more than 85,000 Hyundai Sonatas. Faulty valves could cause dangerous fuel tank melting and safety risks.

Kia and Hyundai are recalling thousands of vehicles in the U.S. because of an issue that could cause fuel tanks to melt.

The recalls affect approximately 250,547 Kia K5 sedans from model years 2021–2024 and 85,043 Hyundai Sonata vehicles from model years 2020–2023, all equipped with 1.6-liter turbocharged engines, the National Highway Traffic Safety Administration (NHTSA) said in notices issued this week.

Both automakers report the issue stems from a purge control system check valve that can wear out over time, causing air to become pressurized in the fuel tank, according to the NHTSA.

KIA ISSUES RECALLS OVER LOOSE PARTS CREATING POSSIBLE ROADWAY HAZARDS, OVER 300K VEHICLES IMPACTED

"If this occurs, the fuel tank may expand and contact the hot exhaust pipe components," the Kia recall states. "If the vehicle continues to be driven in this condition for a prolonged period, localized melting of the fuel tank may occur, possibly resulting in a fuel leak."

Owners of affected vehicles will be contacted by Hyundai and Kia with further instructions, the notices state.

OVER 80,000 KIA ELECTRIC, HYBRID VEHICLES RECALLED OVER ISSUES WITH AIRBAGS: NHTSA

Dealership technicians will inspect and replace the faulty valve and check the fuel tank for any damage, according to the NHTSA.

Last month, Hyundai similarly announced it was recalling more than 135,000 vehicles that could short circuit during a crash.

HYUNDAI, KIA RECALL OVER 200,000 EVS OVER POTENTIAL POWER ISSUES

In July, Kia issued two recall notices within a week for more than 300,000 vehicles with loose parts near the doors and windows that could fall off and pose a potential hazard to other drivers.

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Kia and Hyundai did not immediately respond to FOX Business' request for comment.

FOX Business' Daniella Genovese, Danielle Wallace and Bonny Chu contributed to this report.

https://www.foxbusiness.com/retail/kia-hyundai-issue-major-recalls-over-335k-vehicles-due-fuel-tank-melting-risk

Trump and NYC's new socialist mayor call for Con Edison to lower rates, causing stock dropLowering Con Ed’s NYC electricity prices were a topic of discussion between President Donald Trump and New York City Mayor-elect Zohran Mamdani during their Oval Office meeting.

President Donald Trump on Friday hosted New York City Mayor-elect Zohran Mamdani at the White House where they discussed affordability issues and called for lower electricity prices in the city, which caused a major utility's stock to sink.

Trump and Mamdani, a democratic socialist, spoke to reporters in the Oval Office following their meeting and said that they intend to focus on addressing affordability issues, which Mamdani noted helped increase Trump's level of support in New York City and was something his campaign tapped into.

"When we asked those New Yorkers who had voted for the president, and when we saw an increase in his numbers in New York City, that came back to the same issue – cost of living, cost of living, cost of living. They spoke about the cost of rent, the cost of Con Ed, the cost of childcare," Mamdani explained.

Consolidated Edison, commonly known as Con Ed, is the main utility provider in New York City and has over 3 million customers, and President Trump echoed the need to reduce energy bills facing New Yorkers – saying there need to be talks with the company about lowering prices.

TRUMP REVEALS 'ONE THING IN COMMON' HE HAS WITH MAMDANI AFTER OVAL LOVE FEST

"We talked about Con Edison. We have to work a little bit on getting the prices, because you know, we've gotten fuel prices way down, but it hasn't shown up in Con Edison," Trump said.

"We're going to have to talk to them, you know, if we're sending them fuel at a much lower price than it was a year ago, which is true, we have to get Con Edison to start lowering their rates," he added.

VOTERS EXPRESS ECONOMIC WORRIES OVER INFLATION AS COSTS RISE, FOX NEWS POLL FINDS

Con Edison told FOX Business the company "powers the economic engine of our country by delivering the most reliable energy to more than 9 million people who live, work, and travel through New York City every day."

"We recognize affordability is a critical issue and work every day to balance the investments needed for resilience and reliability with customer costs. We welcome the opportunity to partner with the Mayor-elect on solutions that make New York affordable for everyone," the company added.

Following Trump and Mamdani's comments, Con Ed shares sank to close the week. Con Ed stock opened Friday's session at $101.48 and hit a high of $103.28 – but it sank to a low of $99.55 following those remarks. The stock closed at $100.16, down 0.78% on Friday.

MIDDLE-INCOME AMERICANS PESSIMISTIC ABOUT THEIR FINANCIAL FUTURE AMID PERSISTENT INFLATION, ANALYSIS SHOWS

For the year, shares are up about 13%. 

New York City voters elected Zohran Mamdani in early November, when he defeated independent challenger and former New York Gov. Andrew Cuomo as well as Republican nominee Curtis Sliwa. 

The Fox News Voter Poll found that while a 59% majority of New York City voters felt their family's financial situation was holding steady, 22% felt that they were falling behind and just 17% felt they were getting ahead – with Mamdani leading among those holding steady or falling behind.

Voters said that the cost of living was the most important issue facing New York City, with 55% of respondents to the Fox News Voter Poll focusing on pocketbook issues, with the next closest issue being crime at 23%.

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Among voters who cited the cost of living as New York City's most important issue, 66% said they voted for Mamdani – more than double the 29% who backed Cuomo.

https://www.foxbusiness.com/politics/trump-nycs-new-socialist-mayor-call-con-edison-lower-rates-causing-stock-drop

Bluesky's active users plummeted following Trump's election win, while Truth Social made modest gains: reportBluesky's daily active users dropped sharply after President Donald Trump's 2024 election victory, while Truth Social showed a modest gain in daily active users.

According to a Forbes report published Nov. 7, Bluesky’s daily active user count dropped sharply after President Donald Trump’s 2024 election victory, while his platform, Truth Social, saw modest gains during the same period.

While Bluesky's main competitor, Elon Musk's X, also saw a decline in daily active users, Forbes noted that Bluesky experienced "a much steeper decline than other major social networks over the same period."

"Bluesky’s number of average daily active users on mobile devices worldwide is down 39.8% year-over-year as of the end of October, according to data from Similarweb, a digital market intelligence company, a much steeper decline than other major social networks over the same period," the outlet reported.

WHITE HOUSE TAUNTS LIBERALS WITH PROVOCATIVE MEME-FILLED DEBUT ON BLUESKY

Over the same period, Similarweb's data showed that Truth Social had increased its daily average users on mobile devices by 32%, although Forbes noted that activity varies widely month to month and tends to spike when Trump posts a major announcement to the platform.

Bluesky, a social media platform created by Twitter co-founder Jack Dorsey, saw a surge in users after President Donald Trump’s election in 2024, many of them fleeing X to escape conservative voices. Dorsey resigned from Bluesky's board last year.

Although the spike in usage seemed promising, daily active users on Bluesky have continuously fallen throughout 2025. Some in the press argued the app's left-wing discourse and lack of the same caliber of "jokes" and memes have limited its growth.

LONG BEFORE KIMMEL CONTROVERSY, LATE-NIGHT HOSTS PRAISED BIG TECH FOR DEPLATFORMING TRUMP IN 2021

As noted in Forbes' report, a New York Times Magazine piece published in December 2024 contended that, despite the post-election bump, the platform was unable to become as "robust (read: fun)" as X, where the "jokes and ideas are more polished" and users have access to "more up-to-the-minute analysis" of news and cultural moments.

The report also referenced a piece from Wired, "Bluesky can’t take a joke," in which the reporter similarly pointed to a perceived humor gap between X and Bluesky. 

In June, Billionaire Mark Cuban criticized Bluesky as increasingly toxic and "hateful" because of the hostility on display there.

JIMMY KIMMEL'S LATE-NIGHT EVOLUTION FROM APOLITICAL FUNNYMAN TO DEM ACTIVIST

In a series of recent posts to Bluesky, the business mogul lamented that people on the platform — the majority being liberals — have "grown ruder and more hateful."

"Even if you agree with 95% of what a person is saying on a topic, if there is one point that you might call out as being more of a gray area, they will call you a fascist etc.," Cuban wrote.

Bluesky did not immediately return Fox News Digital's request for comment.

Fox News' Gabriel Hays contributed to this report.

https://www.foxbusiness.com/media/blueskys-active-users-plummeted-following-trumps-election-win-while-truth-social-made-modest-gains-report

Trump's childhood home hits the market for $2.3M after major makeover in Queens neighborhoodTrump's childhood home in Queens hit the market for $2.3 million after a major renovation. The five-bedroom property was restored from disrepair.

President Donald Trump’s childhood home is back on the market for $2.3 million following an extensive renovation.

The five-bedroom home, located in the affluent Jamaica Estates neighborhood of Queens, New York, was listed by Brown Harris Stevens. 

Built in 1940 by Trump’s father, Fred Trump, the home is where the president lived until age 4, according to The Wall Street Journal.

"Nestled on a tree-lined street in the prestigious enclave of Jamaica Estates, this stately residence combines timeless elegance with refined modern updates," the listing states. "Once the childhood home of President Donald Trump, this property carries a rich historical pedigree, now complemented by meticulous contemporary craftsmanship."

CONSUMER GROUP UNVEILS 'TRUMP'S DREAM HOUSE' DECORATED WITH PRESIDENT'S ORDERS ON APPLIANCES

The Tudor-style house had fallen into disrepair in recent years, and, by 2019, had even become infested with feral cats, according to Realtor.com.

That changed in February when real estate developer Tommy Lin purchased the home for $835,000. He spent eight months and $500,000 restoring it, now listing the home for $2.3 million, The Wall Street Journal reported.

TRUMP SLAMS FEDERAL RESERVE RENOVATION AS 'BUILDING A BASEMENT IN THE POTOMAC RIVER'

"There was no water in the house, no power," Lin told The Wall Street Journal. "It was not livable."

Lin said he purchased the home hoping that the property's presidential history would appeal to buyers, The Wall Street Journal reported.

While the interior was completely gutted, the brick-and-stucco exterior was preserved. Inside, the renovation added smart home features, including smart toilets and a smart door lock and handle. The house spans about 2,500 square feet with a 1,000-square-foot basement and has four levels, according to The Wall Street Journal.

The home also features a sunroom and a wood stove believed to be original to the home, The Wall Street Journal reported.

INSIDE DONALD TRUMP'S CHILDHOOD HOME

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Located roughly 14 miles from Manhattan, Jamaica Estates' median sale price reached $1.5 million in September, including single-family homes, townhomes and condos, according to Realtor.com.

On election night in December 2016, just hours before Trump's victory, the house drew $1.39 million and came close to doubling that amount when it was sold for $2.14 million on Inauguration Day 2017, The Wall Street Journal reported.

https://www.foxbusiness.com/politics/trumps-childhood-home-hits-market-for-2-3m-major-makeover-queens-neighborhood

Investors bet big on booming drone economyA new drone ETF offers investors access to a booming unmanned aerial vehicle industry. The REX fund targets companies earning revenues from military and commercial drone uses.

The drone economy is taking off, and investors are getting more options to put money into the budding industry.

The recently launched REX Drone exchange-traded fund, for example, has 80% of its portfolio earmarked for companies that generate the bulk of revenues from drones, unmanned aerial vehicles (UVA) and the companies that support the industry’s technologies.

"The drones theme is exciting for a couple of reasons," REX CEO Greg King told FOX Business. "No. 1, the military applications. Ukraine and the Middle East have approved the utility there. And defense budgets are shifting over to a lot more spending on UAVs than traditional weapons. But what's more exciting to us is the commercial applications. You've got delivery services, monitoring services, inspection services across a variety of sectors that are now starting to ramp up along the lines of this theme."

TRUMP MOVES AGAINST CHINESE DRONES

Within the military, drones have become a game-changer. Ondas Holdings, the fund’s largest position, provides technology for aerial intelligence and next-generation connectivity to provide stealth security.

AeroVironment, the second-largest holding, is known for its Switchblade precision loitering munitions. The company recently expanded these combat-proven systems that help ensure "warfighters maintain tactical overmatch in the most contested environment," the company said.

ONDAS IRONDRONE IN ACTION: VIDEO

And Palantir Technologies, a smaller position, has received high marks for its commitment to back only America’s military. It’s support of the U.S. Army includes software helping decipher data with artificial intelligence.

The drone industry is expected to grow about 8% to 10% annually, reaching $60 billion by 2030 as more industries adopt the technology, King said.

WALMART MOVES INTO DRONE DELIVERIES

"The military has been growing steadily for a while, but with the commercial applications, whether it's monitoring crops or inspecting pipelines or Amazon, Walmart and UPS delivering to remote areas, it's really hard to say which of those sort of sectors within the theme are going to grow the most. That's why we have this broad exposure to that theme," he added.

DRNZ is designed for one-stop shopping for those investors looking to tap into a growth industry. King likened the industry’s future by connecting to the past.

AMAZON EXPANDS DELIVERIES IN RURAL AMERICA

"The efficiencies that can be achieved just to us kind of undergirds this entire investment thesis. If you think about it, we invented little birds that we can control, right? Started with the carrier pigeon, and now we've got stronger, faster birds that we could send anywhere and do anything we want," he said. 

"I think lots of them haven't even been thought of. So, it's definitely an exciting space."

https://www.foxbusiness.com/markets/investors-bet-big-booming-drone-economy

Gap bets on beauty: Inside the retailer’s push beyond apparelGap CEO Richard Dickson announces aggressive expansion into beauty and accessories, appointing industry veterans to lead the strategic push.

Gap is expanding its push into beauty and accessories with products hitting company stores this spring as it battles fierce competition and works to regain cultural relevance in an already challenging economy.

Gap Inc. CEO Richard Dickson, a former Mattel executive who took the helm in 2023 to revive the company after it suffered years of weak sales, told FOX Business that its customers resonated with the beauty category, calling it a "meaningful opportunity" for the retailer to expand its brands — Gap, Banana Republic, Old Navy and Athleta – into beauty. 

The company has already launched Old Navy's Beauty Collection across 150 stores, some of which have dedicated shop-in-shops and beauty associates, Dickson said. More Gap products will be coming as soon as spring 2026, he added.

GAP POURS $58M INTO ROBOTICS AND AUTOMATION AT ITS LARGEST GLOBAL DISTRIBUTION FACILITY IN TENNESSEE

"It is a highly competitive category, but it’s also one of the most resilient in retail — in fact, the fastest-growing and most resilient retail category in the U.S. So again, a clear and meaningful opportunity for us to expand," Dickson told FOX Business. "We’ve got exceptional leadership and a thoughtful plan ahead."

Gap announced its strategic expansion of both the beauty and accessories categories in September and appointed several heavy hitters in the industry to lead the charge. For instance, it tapped longtime Estée Lauder executive John Demsey, who oversaw global brands including Tom Ford Beauty and MAC Cosmetics, to become executive director of beauty. Deb Redmond, a former Nordstrom senior vice president and division merchandise manager for beauty, was also brought on to become Gap’s general manager of beauty.

WALMART'S STRONG QUARTER SHOWS AMERICANS ARE STILL SPENDING

"They’re really advancing our strategy, product development, customer experience and go-to-market execution across the portfolio," Dickson said. 

The company has already made significant progress in its turnaround under Dickson, who is best known for revitalizing the Barbie brand during his time at Mattel. 

WALMART CEO TO RETIRE IN JANUARY

While there is still a ways to go in Gap Inc.'s turnaround, sales and profit margins were better than expected in its latest quarter, causing the retail behemoth to raise its forecast for both full-year sales and profit margins.

The three-month period also marked the seventh consecutive quarter where sales grew compared with the same period a year ago. Dickson noted that its biggest brands, Old Navy, Gap and Banana Republic, had higher sales in the quarter, and that it gained share across all income groups. 

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"The strength of our third quarter and quarter-to-date performance positions us well for the holiday selling season and gives us the confidence to increase our full year net sales outlook to the high end of our prior guidance range and raise our full year operating margin outlook," Dickson said in an earnings release. "We are focused on executing with excellence and finishing the year strong."     

This is an about-face from before Dickson took the reins in 2023. Not only did the company experience multiple quarters of declining sales and weak same-store growth, but it experienced frequent CEO turnover in the years, too.

https://www.foxbusiness.com/lifestyle/gap-bets-beauty-inside-retailers-push-beyond-apparel

Middle-income Americans pessimistic about their financial future amid persistent inflation, analysis showsStudy reveals only 21% of middle-income Americans expect better finances next year, down from 33% in 2020, as inflation creates widespread pessimism.

Middle-income Americans are facing an economic hangover from the inflation of the last several years, and it has led to increased pessimism about their financial prospects, a new analysis finds.

A report by Primerica found that in the third quarter of 2025, just 21% of middle-income Americans believe they'll be better off financially in the next year, while 34% believe they'll be worse off and 33% expect their situation to remain the same.

Those figures are notably more pessimistic than the firm's data from the third quarter of 2020 showed, when 33% of middle-income Americans thought they would be better off financially in the next year versus just 17% who thought they would be worse off and 40% expected they would be about the same.

"The inflation hangover doesn't just tighten day-to-day budgets – it chips away at the financial foundation families work hard to build," Primerica wrote. "For households already balancing tight budgets, even modest increases in essential costs can force tough decisions: tapping savings, adding to credit card debt or delaying retirement investments."

VOTERS EXPRESS ECONOMIC WORRIES OVER INFLATION AS COSTS RISE, FOX NEWS POLL FINDS

The report noted the share of middle-income households rating their personal finances as "poor" or "not so good" has risen from 32.2% in the first quarter of 2021 to a peak of 55% in the third quarter 2024, while it was 45.5% in the third quarter of 2025.

It also noted that the share of respondents who said they pay off their credit card balances in full each month has declined significantly from about 47% in the first quarter of 2021 to 29% in the third quarter of 2025, despite inflation slowing from the highs reached in 2022.

DECEMBER INTEREST RATE CUT IN DOUBT AS FED MINUTES SHOW POLICYMAKERS DIVIDED

Data from Primerica's Household Budget Index showed that costs for necessities like food, gas and utilities are outpacing the income growth of middle-income households, as the cost of necessities is up 32.7% since January 2021 – well above the 23.5% rise in middle-income wages over that period.

As households deal with financial challenges by doing things like deferring big purchases or investments, tapping into savings or adding to credit card debt, it can have a long-term impact as families look to get back on track in terms of their financial goals.

BESSENT WARNS 'PERFECT STORM' BREWING FOR BEEF PRICES, DETAILS TRUMP'S $2,000 PLAN FOR WORKING FAMILIES

"Postponing contributions to retirement accounts or scaling back savings doesn't just lose ground in the moment — it creates a widening gap that becomes harder to close over time. Even if wage growth does begin to outpace inflation, the hole left by years of higher costs can't be filled quickly," Primerica said.

The report also surveyed middle-income households about what aspects of their finances are sources of stress at this time, and 55% of respondents said inflation, while 47% said they were concerned about being able to cover expenses from an emergency.

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Nearly half, 46%, of respondents said that debt and having enough money to enjoy day-to-day life were sources of stress, while 42% said monthly bills, and just 12% said nothing is currently stressing them financially.

https://www.foxbusiness.com/economy/middle-income-americans-pessimistic-about-financial-future-amid-persistent-inflation-analysis-shows

Home values soared in these 10 citiesDespite real estate challenges, 10 U.S. cities saw major home value gains since the pandemic, with some properties increasing over 80% in six years.

Even though the U.S. real estate market has posed significant challenges for potential buyers, there are some parts of the country where home values have actually increased. 

Notably, 10 cities across the South and Northeast have experienced the most significant home value increases across the top 100 U.S. metros since the COVID-19 pandemic, according to an analysis conducted by economists at Realtor.com.

Realtor.com senior economist Joel Berner said when there is a high volume of sales, the expectation is for the value to rise, especially in areas where supply can't match the current demand.  

MORE THAN HALF OF US HOMES LOST VALUE OVER THE LAST YEAR

The cities in the report are evenly split between the South and Northeast and include places like Knoxville and Chattanooga, Tennessee, to Syracuse and Rochester, New York. 

The report comes shortly after an analysis from Zillow indicated that more than half of homes in the U.S. lost value over the past year, marking the highest share of properties to depreciate in more than a decade. 

WHY ARE MORTGAGE RATES INCREASING DESPITE A RATE CUT FROM THE FED? 

However, while there has been a rise in devalued homes, only "relatively few" are selling at a loss, according to Zillow senior economic researcher Treh Manhertz. A home's value between sales matters more than losing value overall, according to Zillow. 

"Home values surged over the past six years, and the vast majority of homeowners still have significant equity. What we're seeing now is a normalization, not a crash," Manhertz said.

HOUSING AFFORDABILITY CRISIS HAMMERING RURAL AMERICA

Still, some metros are benefiting due to the migration of new residents during and after the pandemic.

For instance, Knoxville saw the biggest increase in home values, with the average home in the city seeing its value soar nearly 86%, or roughly $190,000, between October 2019 and October 2025, according to the Realtor.com analysis. Meanwhile, Fayetteville, Arkansas, followed close behind with homes appreciating 84.5% over the past six years, with its value rising more than $195,000. 

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Top 10 cities and how much the value of their homes increased since 2019:

https://www.foxbusiness.com/real-estate/home-values-soared-10-cities

Trump's $2K tariff dividends could carry a hefty price tagTrump's $2,000 tariff dividend plan could cost $600 billion annually, far exceeding current tariff revenues of $300 billion per year, budget watchdog warns.

President Donald Trump's proposal to give Americans $2,000 tariff dividends could carry a hefty price tag, according to a new analysis by a budget watchdog.

Trump told reporters in the Oval Office on Monday that the federal government is looking to pay out the dividends by mid-2026, which would fall ahead of the midterm elections. The timing could depend on Congress, as Treasury Secretary Scott Bessent recently said legislation would be needed to authorize the dividends.

"We're going to be issuing dividends later on, somewhere prior to, you know, probably the middle of next year, a little bit later than that," Trump said. "Thousands of dollars for individuals of moderate income, middle income."

The president announced the proposal in a post last week on his Truth Social platform, saying that "We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person (not including high income people!) will be paid to everyone."

The nonpartisan Committee for a Responsible Federal Budget (CRFB) estimated that if Trump's tariff dividends are structured like the COVID-19 era stimulus payments that went to adults and children after accounting for income levels, each round of tariff payments would cost about $600 billion on an annual basis.

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The CRFB noted that the tariffs the Trump administration has put in place have raised about $100 billion so far this year, including tariffs that were ruled illegal by federal courts and are pending an appeal before the Supreme Court.

On an annual basis, the Trump administration's tariffs – including those that may be struck down by the Supreme Court – are projected to raise about $300 billion per year. By contrast, the net new tariff revenue that isn't subject to the Supreme Court ruling raises a little less than $100 billion per year.

TRUMP CALLS TARIFF OPPONENTS 'FOOLS,' PROMISES $2K DIVIDEND PAYMENTS FOR AMERICANS

It's unclear whether the president intends for tariff dividends to be paid annually or at less frequent intervals, or the amount of the dividend given that he stipulated "at least $2000 a person" in his social media post.

The CRFB said that if $2,000 dividends were paid annually, they would increase deficits by $6 trillion over 10 years, adding that the cost is "roughly twice as much as President Trump's are estimated to raise over the same time period."

If the administration were to pay the tariff dividends on a revenue-neutral basis, if current tariffs remain in effect, those $2,000 dividends could be paid every other year starting in 2027, according to the analysis.

TRUMP SAYS TARIFF REVENUE TO FUND $2K CHECKS FOR AMERICANS, LOWER NATION'S $38T DEBT

However, if lower court rulings are upheld by the Supreme Court and much of the Trump administration's tariffs are ruled illegal, the remaining tariff income would be sufficient to pay $2,000 dividends after seven years.

"Using income from tariffs to pay dividends would mean that income could not be used to reduce deficits or offset borrowing from the One Big Beautiful Bill Act," CRFB wrote.

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The analysis also found that using tariff revenue for rebates or dividends, rather than to pay down the national debt, would push the debt as a share of gross domestic product (GDP) to 127% by 2035, higher than the 120% projected under current law. If $2,000 dividends are paid annually, that would push debt to 134% of GDP.

https://www.foxbusiness.com/economy/trumps-2k-tariff-dividends-could-carry-hefty-price-tag