Despite progress over the past decade, billions worldwide still lack access to safe drinking water, sanitation, and hygiene, leaving them vulnerable to disease and social exclusion, according to a UN report released on Tuesday.
https://www.globalissues.org/news/2025/08/26/40652 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Libraries/Production%20Library/26-08-2025-UNICEF-Colombia.jpg/image100x100cropped.jpg"}Postal services in Europe and around the world plan to halt shipping merchandise to the U.S. as the Trump administration’s end of the de minimus tariff exemption goes into effect.
The "de minimus" exemption allowed internation carriers to ship goods valued under $800 to the U.S. without paying any duties.
The White House announced the end of the exemption weeks ago, linking it to fentanyl and other illicit drugs coming into the U.S.
DHL, Europe’s largest shipping provider, said in a statement on its website Friday that "Deutsche Post and DHL Parcel Germany will no longer be able to accept and transport parcels and postal items containing goods from business customers destined for the U.S." effective immediately.
TRUMP ANNOUNCES TARIFF INVESTIGATION INTO FURNITURE IMPORTS TO RESTORE US MANUFACTURING
The end of the exemption goes into effect Aug. 29.
DHL said its restrictions on packages would be temporary, explaining they were necessary because of "new processes required by U.S. authorities for postal shipping, which differ from the previously applicable regulations."
The company continued, "Key questions remain unresolved, particularly regarding how and by whom customs duties will be collected in the future, what additional data will be required, and how the data transmission to the U.S. Customs and Border Protection will be carried out."
Postal services in Denmark, Sweden, Italy, Austria, France and Belgium have similarly said they plan to pause shipments to the U.S.
The U.K.’s Royal Mail has also temporarily paused shipments, according to the BBC.
Outside of Europe, Asian countries like Singapore and Thailand said their countries would also hold on shipments until there’s more clarity on the new rules.
CANADA LIFTS TARIFFS ON SOME US GOODS TO RESUME TRADE TALKS
"The halt underscores the sweeping disruption caused by President Trump’s decision to eliminate the de minimis threshold, which previously allowed low-value parcels to enter the US without customs duties," Thailand Post said in a statement on its website. "The exemption, capped at US$800 per person per day, facilitated millions of small packages from around the world entering the US smoothly."
Australia Post said it has paused transit on a handful of packages from other countries bound for the U.S.
"We have been working hard with US authorities and international partners to adapt our services to meet the new US de minimis requirements so UK consumers and businesses can continue to use our services when they come into effect," the Royal Mail said.
The U.S. ended the de minimus exemption for China in May.
The White House said at the time that many Chinese-based shippers hide illicit substances, including synthetic opioids, in low-value packages to exploit the de minimis exemption.
The administration said that the amount of de minimus shipments coming into the U.S. has increased from 134 million to 1.34 billion between 2-15 and 2024, according to the Financial Times.
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It has also helped Chinese-based fast fashion companies like Temu and Shein, which ship directly to customers.
FOX Business has reached out to the White House and DHL for comment.
https://www.foxbusiness.com/economy/european-asian-postal-services-halt-shipments-us-end-tariff-exemptionMother-daughter real estate experts Dolly and Jenny Lenz are warning that if Democratic socialist Zohran Mamdani wins the New York City mayoral race this fall, the Big Apple could see an outward migration of residents.
"There'd be no building," Dolly Lenz told FOX Business on ‘The Claman Countdown’ on Tuesday. "We're getting so many calls … from people who say, 'Look, if [Mamdani’s] in, I'm out.' They're going to vote with their feet, they're going to list their apartments, and they're moving."
DISCOUNT GROCER PLANS NYC EXPANSION DESPITE MAMDANI'S GOVERNMENT-RUN STORE PROPOSAL
Mamdani's campaign has been centered around making one of the country’s most expensive places to live more affordable for residents. His proposals call for multi-year rent freezes and a massive investment in public housing.
However, the Lenzes said those proposed rent freezes could bring New York City's housing market to a halt, and noted they already have clients gearing up to leave the city in preparation for the real estate climate under Mamdani.
BETTING MARKETS SHOW MAMDANI MAINTAINS A BIG LEAD IN NYC MAYORAL RACE
"They're going to Greenwich, to New Jersey, to Florida," Dolly Lenz told FOX Business. "They are not going to be here."
The most popular affordable destinations people are moving to are still lower-tax states like Texas and Florida. Many Californians are also flocking to Las Vegas, Nevada, according to the two experts.
NEW REPORT REVEALS MAMDANI LAPPING RIVALS IN BATTLE FOR CAMPAIGN DONATIONS FROM THIS KEY INDUSTRY
"Given all this Mamdani news, a lot of people are certainly on it," Jenny Lenz said.
Mamdani — who defeated former New York Governor Andrew Cuomo in the Democratic primary — has an 81% chance of victory this November, according to data from Interactive Brokers reviewed on Wednesday.
"He's winning by a lot," Jenny Lenz said.
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Over the last week, Mamdani's odds have remained above 75% with his main challengers struggling to gain traction. Cuomo has the next best odds with a 20% chance of winning the mayoral race, per the Interactive Brokers market.
Zohran Mamdani did not immediately respond to FOX Business' request for comment.
FOX Business' Eric Revell contributed to this report.
https://www.foxbusiness.com/politics/real-estate-experts-warn-nyc-exodus-democratic-socialist-mamdani-wins-mayoral-raceCracker Barrel has found itself at odds with its fans after removing "Uncle Herschel" from its logo. The company unveiled its revamped text-only design, sparking backlash and sinking its stock price.
The original 1969 logo was also text-only, but the 1977 addition of the now-iconic imagery became a staple of its branding.
While fans worry that the rebranding is a symbol of larger cultural changes in the company, Cracker Barrel CEO Julie Felss Masino downplayed the criticism in an interview with "Good Morning America."
Masino said in the interview that the feedback was "overwhelmingly positive." Masino also shared that managers of several locations were asking for a remodel, adding that "the feedback and the buzz is so good, not only from our customers, but from our team members."
CRACKER BARREL STOCK PLUNGES AMID LOGO CHANGE BACKLASH
Erik Russell knows Cracker Barrel better than most. As a former employee of nearly 10 years, the restaurant has personal meaning for him.
"I worked there, basically, from the time I went out of high school through when I finished college. So, yeah, I mean, [it’s been a] huge, huge part of my life," Russell told FOX Business.
After the logo change, Russell, who now works as a brand designer, spoke against it in a now-viral post on X in which he said the company was committing "brand suicide."
"I think a lot of people just see Cracker Barrel as just another company. … But, to me, the company was and is much more than that, you know, based on the values that the company represents to me, the people that I met there, the people I still know there and the experiences that I had there," Russell told FOX Business.
Russell explained the changes he saw internally and how the company moved away from representing "a more traditional time in America."
CRACKER BARREL JOINS BUD LIGHT, TARGET IN BRANDING BACKFIRES
The former longtime Cracker Barrel employee said that while attending Bob Jones University, he found the restaurant to be a great fit becauese the school had a rule against students working at establishments that serve alcohol. Cracker Barrel did not have alcohol on its menu until mid-2020. Russell said that this change "really spelled the beginning of the end for that era of Cracker Barrel culture."
The change in its alcohol policy wasn’t the first sign the company was going in a different direction. Russell recalled how Cracker Barrel changed its dress code for employees, going from requiring certain haircuts and trimmed facial hair to being more relaxed. He admitted that the rules alone were not what made the company’s culture, but rather it was a combination of factors.
"Rules don't necessarily have any magic to them, but I think when you add all of those things together, along with the attitudes inside the store, the way the manager enforced the code of conduct, I think you get a picture of a place that understood family values, understood traditional values, attracted a certain type of clientele, attracted a certain kind of employee," Russell said.
When it comes to the symbolism of Cracker Barrel’s new logo, Russell said it "requires a lot of reading between the lines," but that those who "know what to look for" will see it. As a graphic and brand designer, he said the logo is much more than an emblem.
"There is no such thing as ‘just a logo,’" Russell said. "When you first draw a logo, it doesn't matter how good that logo is technically, right? It doesn't mean anything. What makes a logo meaningful and what makes branding meaningful is the connection that that represents to your customers."
CRACKER BARREL CEO JULIE FELSS MASINO AND THE NEW LOGO CONTROVERSY: WHAT TO KNOW
Russell compared the Cracker Barrel rebranding to the introduction of Gap’s changed logo design, saying that customers develop "a certain emotional attachment" to such iconic symbols.
Despite his disappointment with the changes the company has made, Russell remains a Cracker Barrel fan and even ate there the same day he spoke with FOX Business. He said he usually orders off-menu "because if you know how to substitute at Cracker Barrel, then you can get pretty much whatever you want." He gave FOX Business his advice on what to order.
"If you go on Sundays and get the homestyle chicken and substitute the biscuits for toast, you can make a delicious fried chicken sandwich with tomatoes and lettuce and onions and all the salad trimmings, which are free. And then you can get your three sides."
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In response to a FOX Business request for comment, Cracker Barrel said its values had not changed.
"Our values haven't changed, and the heart and soul of Cracker Barrel haven’t changed. And Uncle Herschel remains front and center in our restaurants and on our menu. He is the face of ‘The Herschel Way,’ the foundation of how our 70,000-plus employees provide the country hospitality for which we are known," Cracker Barrel said in a statement.
"Cracker Barrel has been a destination for comfort and community for more than half a century, and this fifth evolution of the brand’s logo, which works across digital platforms as well as billboards and roadside signs, is a call-back to the original and rooted even more in the iconic barrel shape and word mark that started it all back in 1969."
After the new logo was released, Cracker Barrel experienced its worst losing streak in months, as shares of Cracker Barrel (CBRL) tumbled more than 12% on Thursday, the steepest drop since April, before ending the session down more than 7%. The drop erased over $90 million in market value.
Fox News Digital’s Amanda Macias contributed to this report.
https://www.foxbusiness.com/politics/new-cracker-barrel-logo-sparks-backlash-ex-longtime-worker-says-erodes-nostalgiaMcDonald's CEO Chris Kempczinski teased on social media he may be sticking around for another ten years at the fast-food giant.
Kempczinski celebrated a "major milestone" last week, marking ten years at McDonald's with an announcement on Instagram. He also made it clear he wasn’t planning to leave anytime soon.
"Ten years at McDonald's. Here's to another ten," he said in a video post.
Following that post, Kempczinski shared another video, noting, "career paths often come with unexpected twists."
MCDONALD'S SNACK WRAP RETURNS TO MIXED REVIEWS AFTER 9-YEAR HIATUS
"I’ve faced a few in my journey, but they’ve always paid off in some way or another," he posted while simultaneously asking his followers to comment on the unexpected twists they faced during their journeys.
Kempczinski officially took over as CEO in November 2019, succeeding Steve Easterbrook after his removal by the board over a policy violation. Ever since, Kempczinski has been responsible for driving McDonald’s growth strategy, "Accelerating the Arches."
Before that, Kempczinski served as president of McDonald’s USA, leading the business operations of approximately 14,000 McDonald’s restaurants across the U.S.
MCDONALD'S MCCRISPY STRIPS RECEIVE MIXED REVIEWS AS ANALYST QUESTIONS IMPACT ON UPCOMING SNACK WRAP
He joined the fast-food icon in 2015, stepping in as the executive vice president for strategy, business development and innovation. In this role, he worked closely with business leaders and franchisees to identify innovative new ideas and best practices to accelerate system growth, according to his corporate bio page.
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Before working at the golden arches, Kempczinski worked in brand management at Procter & Gamble before assuming senior positions at PepsiCo followed by Kraft Foods, where he was named the executive vice president for growth initiatives and president of international, according to McDonald's.
https://www.foxbusiness.com/lifestyle/mcdonalds-ceo-teases-future-fast-food-giantBrad Pitt is putting down roots in the Hollywood Hills.
The 61-year-old recently purchased a mansion in Los Angeles from the lead guitarist of The Killers, Dave Keuning, and his wife Emilie Keuning, for $12 million.
Dave and Emilie originally listed the Spanish-style house for $13.9 million in June after initially paying $9.6 million for the home in 2021, per Mansion Global.
Originally built around 1989, the 8,385-square-foot home is located in the esteemed Outpost Estates neighborhood, which has also been home to other celebrities, including Ben Affleck and Orlando Bloom.
BRAD PITT’S LA HOME BURGLARY LEADS TO 4 ARRESTS IN ONGOING POLICE INVESTIGATION
The six-bedroom home has an office, theater room and floor-to-ceiling windows that provide sweeping views of downtown Los Angeles and the Pacific Ocean. Outside, there is a swimming pool, an outdoor kitchen and a vegetable garden.
David Parnes, Sam Collins and James Harris of Carolwood Estates represented Dave and Emilie, while Carolwood’s Marci Kays and Jonathan Mogharrabi represented Pitt in the sale.
In addition to the Hollywood Hills property, the "Once Upon a Time in Hollywood" star also purchased a home in Los Feliz. Pitt paid $5.5 million for the home in 2023, per Mansion Global. He also owns Château Miraval, a winery in France, which has been a point of contention with his ex-wife, Angelina Jolie.
The two have been entangled in a legal battle regarding the property since Jolie sold her share of the estate in 2022 to a subsidiary of the Stoli Group, with Pitt arguing the sale breached a contract between the two.
Pitt and Jolie began dating in 2005, after they met in 2003 while filming "Mr. and Mrs. Smith." The two officially tied the knot in August 2014. The former couple share six children: Shiloh, Knox and Vivienne, along with Maddox, Pax and Zahara, who were adopted.
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After just two years of marriage, Jolie filed for divorce in September 2016. Their divorce was finalized in December 2024.
"I'm not the kind of person who makes decisions like the decisions I had to make lightly. It took a lot for me to be in a position where I felt I had to separate from the father of my children," Jolie told The Guardian in September 2021 about her decision to file for divorce.
Since splitting from Jolie, Pitt started a relationship with jewelry designer Ines de Ramon. The couple were first spotted together publicly in November 2022 and made their red carpet debut at the Venice Film Festival in September 2024 at the premiere of Pitt's film, "Wolfs."
The two recently walked the red carpet together at the premiere of Pitt's latest movie, "F1," with the actor telling Access Hollywood it felt good to have her support, noting, "You know, it takes two."
https://www.foxbusiness.com/fox-news-entertainment/brad-pitt-purchases-12m-la-mansion-from-killers-guitarist-dave-keuningForty percent of people hunting for a new job are using artificial intelligence to improve their chances of getting hired, according to a recent report by Jobseeker.
As more AI-generated cover letters are being seen by hiring managers, job hunters need to make sure the machine doesn't torpedo the chances of getting hired.
Andreas Voniatis, an "SEO veteran turned data scientist," according to his X account, and the founder and CEO of Artios, shared some tips to balance AI with the human touch.
Voniatis says "machine-written applications" lack personality. Instead, they "rarely stray from stiff, formal language patterns when describing career history," creating a "manufactured feel" that "immediately stands out to recruiters who spend their days reading thousands of real applications."
NVIDIA CEO SAYS AI WILL CREATE MORE JOBS DESPITE WORKFORCE CHANGES
"AI tends to lean on a formal vocabulary that feels like it came from a college essay or business manual," he said in a statement. "Words like additionally, crucial, underscores, endeavor, leveraged, synergy, facilitate or driven by a passion for innovation all raise suspicions."
Humans are good at sharing personal stories "that AI simply can't invent," Voniatis said. When vague accomplishments rather than concrete examples with little details are given, employers are more likely to believe the jobseeker turned to AI to help them apply for the gig.
AMAZON CEO SAYS AI WILL REDUCE HIS COMPANY'S WORKFORCE
Document formatting matters, Voniatis said, and even minor inconsistencies can expose artificial origins.
"AI writing tools make subtle but noticeable formatting mistakes that human applicants avoid," he said. "Watch for odd spacing between paragraphs, weird alignment issues or random font changes that wouldn't appear in carefully prepared human documents."
Sentence structure is important, too. Employers notice when something is written flawlessly and fluidly, Voniatis said.
"Human applicants naturally change the length of their sentences regularly and can create some clunky sentences," he said. "AI completely lacks this instinct and produces perfect sentences with little variation in length and structure and with no mistakes or clunkiness."
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While Voniatis does not believe job hunters should be punished for using the technology, he does believe hiring managers should be sure that what they have written "accurately reflects the person they might eventually hire," he said.
"Asking very specific follow-up questions during interviews that probe the experiences mentioned can verify whether the candidate actually understands what they've claimed on paper," Voniatis said.
https://www.foxbusiness.com/technology/ai-hiring-expert-reveals-4-things-employers-need-watch-cover-lettersPresident Trump announced on Friday that his administration is launching a probe into furniture imports to determine new tariff rates on pieces entering the country.
"I am pleased to announce that we are doing a major Tariff Investigation on Furniture coming into the United States," Trump posted to his Truth Social account Friday afternoon. "Within the next 50 days, that Investigation will be completed, and Furniture coming from other Countries into the United States will be Tariffed at a Rate yet to be determined."
CANADA LIFTS TARIFFS ON SOME US GOODS TO RESUME TRADE TALKS
The president noted that the investigation, along with the subsequent duties imposed, are aimed at reviving furniture manufacturing in states such as North Carolina, South Carolina and Michigan.
"This will bring the Furniture Business back to North Carolina, South Carolina, Michigan, and States all across the Union," Trump added. "Thank you for your attention to this matter!"
TRUMP'S TARIFF REVENUE HAS SKYROCKETED IN JUST A FEW MONTHS, SOARING PAST 2024 LEVELS
Earlier this month, Trump touted a "beautiful" surge in tariff revenues on imported goods, crediting his administration's trade policies for a flood of cash into the U.S. economy.
TRUMP'S HIGHER TARIFFS GO INTO EFFECT ON DOZENS OF COUNTRIES
The U.S. collected more than $29 billion in tariff revenues in July, the highest monthly total this year. According to the Treasury Department’s latest "Customs and Certain Excise Taxes" data, released on Aug. 19, total tariff revenues have reached $158.3 billion for the fiscal year.
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The White House did not immediately respond to FOX Business' request for comment.
FOX Business' Amanda Macias contributed to this report.
https://www.foxbusiness.com/politics/trump-announces-tariff-investigation-furniture-imports-restore-u-s-manufacturingCracker Barrel is firmly in the crosshairs of consumer backlash, but conservative activist Robby Starbuck believes the negative reaction boils down to something deeper than just a new logo and reflects a broader abandonment of traditional American values.
Consumers quickly spoke out against Cracker Barrel after it unveiled a new logo that eliminated the image of a man leaning on a barrel and instead just has the restaurant’s name in black text over a yellow barrel-shaped backdrop. The chain also redesigned the interior of its restaurants, ditching the kitschy American aesthetic and replacing it with a slick modernist motif.
"The American people are sick of having our culture and heritage stripped from us," Starbuck told Fox News Digital.
"All these things that are nostalgic Americana are constantly being stomped on, and we're being told that there's something wrong with it, that we should be ashamed of it in some way, that it needs to be replaced with something more inclusive or more driven by these DEI characteristics," he continued. "I think people are just sick of it. We've had enough, and we don't want our whole country stripped down to where we have no semblance of, you know, that sort of nostalgic Americana culture."
CRACKER BARREL CUSTOMERS 'HATE' RESTAURANT CHAIN'S NEW LOOK IN VIRAL SOCIAL MEDIA VIDEOS
Starbuck, a Visiting Fellow for the Capital Markets Initiative at The Heritage Foundation who acknowledged that he is "pretty well-known at this point for turning companies away from wokeness," believes Americans appreciate Cracker Barrel’s iconic, pre-remodeled decor.
"They feel at home when they're around it," he said.
Starbuck called Cracker Barrel’s changes "Brand Destruction 101," and said the logo change was simply the tip of the iceberg.
"They're trying to ditch their previous customers and vibe, right? They want to say, ‘No, we're going to be fresh and modern,’" Starbuck said.
The conservative activist pointed to a pop-up event that Cracker Barrel hosted on Thursday in New York City that included line dancing and live country music. The "A Taste of Country, Anytime" event featured classic Cracker Barrel menu items, rocking chairs, games, line dancing and a performance by country music singer Jordan Davis, who starred in a new commercial for the company. The closest Cracker Barrel to New York City is about 45 miles away in Mount Arlington, New Jersey.
"We note that we had an opportunity to partner with Jordan Davis at this event while he was in town for the Today Show, similar to how we have brought the goodness of country hospitality to our guests with NASCAR races at Speedway tracks like Ft Worth, Atlanta, and obviously our home race in Nashville, the Cracker Barrel 400. These events are part of a larger initiative to bring our signature country hospitality to people all over the US whether they're lucky enough to live close to a Cracker Barrel or not," a Cracker Barrel spokesperson said.
CRACKER BARREL EXECUTIVE INSISTS RESTAURANT REMODELS ARE 'WHAT THE GUESTS ASKED FOR'
"They're essentially marketing to a clientele that doesn't exist, right? Because there's not a Cracker Barrel in New York City. So why are you doing this event there? And it's about virtue signaling to a group of people that frankly don't go to Cracker Barrel and never have gone to Cracker Barrel, don't want to go to Cracker Barrel," Starbuck said.
Starbuck revealed to Fox News Digital that he had previously been tipped off to "woke" issues inside Cracker Barrel, and the attention surrounding the controversial logo change prompted him to dig a little deeper.
"What we found is really that they are totally out of alignment with their customer base," Starbuck said.
Starbuck said he found "very concerning actions," including a "deep and long-term association" with the Human Rights Campaign, which bills itself as a group that has "led the way in fighting for LGBTQ+ equality and inclusion" since 1980.
The HRC has wielded immense power in the corporate world in recent years with its Corporate Equality Index. The index, which, on its website, is defined as a "national benchmarking tool on corporate policies, practices, and benefits pertinent to lesbian, gay, bisexual, transgender, and queer employees," would assign companies a score based on how inclusive the HRC determined they were to gay employees. Companies would then jockey to increase their scores by instituting more DEI-related policies, some of which, critics alleged, went too far.
CRACKER BARREL STOCK PLUNGES AMID LOGO CHANGE BACKLASH
The HRC did not immediately respond to a request for comment.
Cracker Barrel was originally given a score of zero when the CEI debuted in 2002. Later that year, the franchise added "sexual orientation" to its list of characteristics protected by its employment discrimination policy. Over time, Cracker Barrel’s score increased. It achieved a score of 80 in 2021 after it had taken some high-profile pro-LGBT stands.
Cracker Barrel told Fox News Digital it "has not participated in the Human Rights Campaign Index or had any affiliation with HRC in several years."
"I don't believe this was just about a logo change and a fresh new look. I think this was about rejecting what they see as sort of a redneck old image that they had, right? And it's a slap in the face of their customers, because there's nothing wrong with the image that Cracker Barrel already had," Starbuck said. "That's where you see a big separation between the executive class and the American people."
As an example, Starbuck posted a packet on creating safe spaces he said was distributed within its corporate offices in "recent years," which talked about not tolerating "heterosexist, cisgenderism comments and actions."
Cracker Barrel said the image wasn't part of a company training.
"We note that image [shown] is not part of any Cracker Barrel training," a spokesperson said. "Cracker Barrel’s trainings focus on educating leadership and employees on business practices and policies and include required training under federal, state, and local law."
Cracker Barrel has stood by its recent moves and said 87 percent of respondents in their research either loved or liked the new logo.
"Our values haven't changed, and the heart and soul of Cracker Barrel haven’t changed," a spokesperson previously told Fox News Digital.
"And Uncle Herschel remains front and center in our restaurants and on our menu. He is the face of ‘The Herschel Way,’ the foundation of how our 70,000-plus employees provide the country hospitality for which we are known," the spokesperson continued. "Cracker Barrel has been a destination for comfort and community for more than half a century, and this fifth evolution of the brand’s logo, which works across digital platforms as well as billboards and roadside signs, is a call-back to the original and rooted even more in the iconic barrel shape and word mark that started it all back in 1969."
A spokesperson also said the feedback from guests and team members has been "overwhelmingly positive and enthusiastic about the refreshed dining and shopping experience," but a "vocal minority" may feel differently.
Cracker Barrel did not immediately respond to a request for additional comment.
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Fox News Digital’s David Spector, Lorraine Taylor, Peter Burke, and Landon Mion contributed to this report.
https://www.foxbusiness.com/media/cracker-barrel-backlash-americans-sick-having-our-culture-heritage-stripped-from-us-starbuck-saysNearly $4 billion of new money flowed into digital assets last week, with the U.S. dominating 99% of the total haul. Investors are taking a cue from President Trump’s push to open retirement accounts up to alternative assets.
"My Administration will relieve the regulatory burdens and litigation risk that impede American workers’ retirement accounts from achieving the competitive returns and asset diversification necessary to secure a dignified, comfortable retirement," a portion of a Trump executive order, "Democratizing Access to Alternative Assets for 401(k) Investors," signed in early August, said.
Ethereum ETPs (exchange-traded products), which give investors exposure to the crypto without holding it, attracted $2.87 billion in new assets last week, bringing the year-to-date inflows to a record $11 billion, as tracked by CoinShares.
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Ethereum got an extra boost Friday, nearing the $4,800 level after Federal Reserve Chairman Jerome Powell signaled a possible interest rate cut as early as September. It last hit a record $4,865.81 in November 2021.
BlackRock's ETF arm, iShares, dominated the action, led by inflows into the Ethereum Trust ETF and its Bitcoin Trust ETF.
Bitcoin, which is taking a backseat to ethereum, saw a $552 million boost, reversing two straight weeks of outflows. The largest cryptocurrency by market value is hovering around the $116,000 level, up 20% year-to-date but down from its record high of $124,495.51 reached on Aug. 14.
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Smaller cryptos, including Solana and XRP, saw inflows of $176.5 million and $125 million, respectively.
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Along with iShares, ProShares, Fidelity, 21Shares AG and Bitwise Funds Trust are leading annual inflows, CoinShares reported.
https://www.foxbusiness.com/markets/trumps-401k-expansion-fuels-ethereum-boomCracker Barrel's $700 million rebranding effort is joining a list of corporate missteps that have sparked public backlash.
The public outcry is centered on Cracker Barrel's new logo, which includes a modernized version that no longer features an image of a man resting on a barrel that had been a defining symbol of the brand for nearly 50 years.
In recent years, several major companies have faced backlash over high-profile business decisions, from Target’s retreat on diversity, equity and inclusion (DEI) initiatives to Bud Light’s partnership with transgender influencer Dylan Mulvaney.
The moves didn't just draw fierce criticism and consumer boycotts, but in some cases, impacted sales.
The fallout from Cracker Barrel's logo change and restaurant makeover isn't over. Shares of the food chain plunged Thursday as customer backlash and investor unease drove the chain’s worst losing streak in months.
Cracker Barrel was facing backlash after unveiling its new logo, which drops an illustration of a man resting his arm on top of a wooden barrel, a folksy image that has embodied the brand's southern hospitality for the last 56 years. The change was part of the company's $700 million transformation across its 660-plus restaurants. Aside from the new logo, the brand refresh includes decluttering dining rooms and a revamped menu, but critics say the rebranding is a risky move for a company already struggling with thin margins.
"Like Bud Light or New Coke, this is yet another example of how abandoning your brand and loyal customers is not the way to grow a business," Richard Stern, director of the Thomas A. Roe Institute for Economic Policy at The Heritage Foundation, told Fox News Digital.
Stern argued that by chasing a new market, the restaurant chain has strayed from its roots.
Shares of Cracker Barrel tumbled more than 12% on Thursday, the steepest drop since April, before ending the session down over 7%.
CRACKER BARREL EXECUTIVE INSISTS RESTAURANT REMODELS ARE 'WHAT THE GUESTS ASKED FOR'
Target was removed as a sponsor for a pride event in its hometown and faced a prolonged 40-day boycott in response to its decision to scale back its diversity, equity and inclusion (DEI) policies.
Kiera Fernandez, Target's chief community impact and equity officer, said in a note to employees in January that the retailer will implement changes as part of its "Belonging at the Bullseye" strategy that adapts to the evolving external landscape. This includes concluding its three-year DEI goals and ending its Racial Equity Action and Change (REACH) initiatives in 2025, as planned.
Target will also change its "Supplier Diversity" team to "Supplier Engagement" to reflect an "inclusive global procurement process across a broad range of suppliers, including increasing our focus on small businesses," Fernandez said in the note.
Just a few days after announcing the changes, organizers of the Twin Cities Pride Festival — of which Target has been a longtime sponsor — said the retailer is no longer welcome.
Andi Otto, Twin Cities Pride executive director, told MPR News that he made the decision to boot Target from any involvement in this year's festivities due to its roll back of DEI initiatives.
Atlanta-based Rev. Jamal Bryant urged consumers to avoid spending money at the retailer for the entirety of Lent, while the "Target Fast" movement said on its website that it wanted Target stockholders to offload their holdings in the retailer as part of the boycott.
The uproar against Bud Light and Anheuser-Busch InBev started in early April 2023. It created and sent custom beer cans to Dylan Mulvaney to mark "365 days of girlhood." The campaign caused backlash with the brand's conversative customer base. Musician Kid Rock posted a viral video of himself shooting cases of Bud Light with a rifle.
However, the company's attempt to distance itself from the campaign and stop publicly supporting Mulvaney only angered LGBTQ+ advocates, progressives and allies.
Sales of Bud Light took a hit as Modelo Especial surpassed Bud Light in becoming the top-selling beer in the U.S. Bud Light held the title as the top-selling beer in the U.S. on an annual basis for more than two decades.
After announcing it would cease distribution of its products in the Occupied Palestinian Territories, the company faced boycotts from pro-Israel groups and divestment actions from U.S. states citing anti-BDS laws.
Since its founding in 1978, Ben & Jerry's has been known for its left-leaning advocacy, and the Vermont-based ice cream maker was able to maintain an independent board of directors to continue its progressive activism even after it sold to Unilever in 2000. The unique structure of the deal that allowed Ben & Jerry's to wade into controversial issues without interference pulled Unilever into the fray, too.
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In July 2021, when Ben & Jerry’s announced it would no longer sell its products to Israelis in the West Bank, which the company refers to as "Occupied Palestinian Territory."
The move sparked outrage from both sides of the political aisle amid accusations that the company was boycotting Israel as part of the boycott, divest, sanctions (BDS) movement, which Ben & Jerry's denied. Israel threatened to take action against Unilever over the move, and U.S. lawmakers called on the Securities and Exchange Commission to launch a probe into the parent company.
In March 2024, Unilever spun off its ice cream business, including Ben & Jerry's, to become a leaner company.
FOX Business reached out to Cracker Barrel, Anheuser-Busch InBev, Target and Ben & Jerry's for comment.
https://www.foxbusiness.com/lifestyle/cracker-barrel-joins-bud-light-target-branding-backfiresPresident Donald Trump on Friday threatened to fire a member of the Federal Reserve's board of governors if she doesn't resign from her role.
Federal Reserve Governor Lisa Cook is facing mortgage fraud allegations that are under investigation by the Department of Justice (DOJ) after a criminal referral by Federal Housing Finance Agency head Bill Pulte, a staunch Trump ally and critic of the Fed.
"I'll fire her if she doesn't resign," Trump told reporters on Friday. "What she did was bad."
Pulte sent his referral to the DOJ on Wednesday and accused her of having "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."
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Pulte alleged that Cook falsely claimed primary residence status for a pair of homes located in Ann Arbor, Michigan, and Atlanta when she obtained mortgages on them 14 days ago.
In a separate post, he published pictures purporting to show her signature from the documents, which he captioned as claiming primary residence status, though the images don't contain that information.
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Cook pushed back on Pulte's allegations and referral in a statement provided to FOX Business by the Federal Reserve.
"I learned from the media that FHFA Director William Pulte posted on social media that he was making a criminal referral based on a mortgage application from four years ago, before I joined the Federal Reserve," Cook said.
"I have no intention of being bullied to step down from my position because of some questions raised in a tweet. I do intend to take any questions about my financial history seriously as a member of the Federal Reserve, and so I am gathering the accurate information to answer any legitimate questions and provide the facts."
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Under federal law governing the Federal Reserve system, the president can only remove a sitting governor for cause, which has historically been interpreted as applying to malfeasance or misconduct, rather than policy disagreements.
If Trump follows through with his threat to fire Cook if she refuses to resign, it would mark the first time in history that a president has attempted to remove a sitting Federal Reserve governor, and it could lead to a legal battle.
The president and his allies have repeatedly urged the Fed to cut interest rates in an effort to boost the economy and lower the cost of servicing the more than $37 trillion U.S. national debt, though Trump has backed off past threats to fire Fed Chair Jerome Powell.
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Cook was appointed to the Fed by President Joe Biden in 2022 and was confirmed by the Senate on a party-line vote of 51-47 in September 2023. Her term as a Fed governor runs 14 years, from 2024 to 2038.
https://www.foxbusiness.com/economy/trump-threatens-fire-fed-governor-cook-she-doesnt-resignFederal Reserve Chair Jerome Powell on Friday said that the "balance of risks appears to be shifting" in the U.S. economy, as central bank policymakers weigh labor market conditions and inflation data ahead of their next interest rate decision in mid-September.
Powell spoke at the annual monetary policy conference hosted by the Kansas City Fed in Jackson Hole, Wyoming, in what is expected to be his final address at the event as Fed chair. The event comes following a series of inflation prints showing consumer prices trending higher and further away from the Fed's 2% target, as well as a weaker-than-expected July jobs report that included large downward revisions to employment in May and June.
The Federal Reserve chairman said that downside risks to the labor market appear to be rising while economic growth slowed in the first half of the year due to slower consumer spending, and added that tariffs have begun to push consumer prices higher – raising the risk of higher inflation, though longer-term inflation expectations are still well-anchored.
"While the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers," Powell said. "This unusual situation suggests that downside risks to employment are rising, and if those risks materialize, they can do so quickly in the form of sharply higher layoffs and rising unemployment."
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"The effects of tariffs on consumer prices are now clearly visible. We expect those effects to accumulate over coming months, with high uncertainty about both timing and amounts. The question that matters for monetary policy is whether these price increases are likely to materially raise the risk of an ongoing inflation problem," Powell said.
"A reasonable base case is that the effects will be relatively short-lived, a one-time shift in the price level. Of course, one time does not mean all at once. It will continue to take time for tariff increases to work their way through supply chains and distribution networks. Moreover, tariff rates continue to evolve, potentially prolonging the adjustment process," he said.
"It's also possible, however, that the upward pressure on prices front tariffs could spur a more lasting inflation dynamic, and that is a risk to be assessed and managed."
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Powell said that the risk of a wage-price spiral driven by workers requesting and receiving higher wages to offset the impact of higher prices on household budgets appears low, given the softening labor market conditions. He added that inflation expectations over the longer-term have remained "well-anchored and consistent with our longer-run inflation objective of 2%."
"Of course, we cannot allow the stability of inflation expectations for granted. Come what may, we will not allow a one-time increase in the price level to become an ongoing inflation problem," Powell added.
"So putting the pieces together, what are the implications for monetary policy? In the near term, risks to inflation are tilted to the upside and risks to employment to the downside – a challenging situation. When our goals are in tension like this, our framework calls for us to balance both sides of our dual mandate," he said.
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Powell noted that after the Federal Open Market Committee (FOMC) lowered the benchmark federal funds rate by 100 basis points last year, the Fed has room to maneuver as it brings rates back to a neutral level with the labor market still showing signs of durability based on some metrics.
"Our policy rate is now 100 basis points closer to neutral than it was a year ago, and the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance," he explained. "Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance."
"Monetary policy is not on a preset course. FOMC members will make these decisions based solely on their assessment of the data and its implications for the economic outlook and the balance of risks. We will never deviate from that approach," Powell said.
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The stock market rallied in response to Powell's speech, with major indexes up over 1% as expectations for a September interest rate cut rose.
"Labor-market weakness appears to have outweighed inflation risk for the Fed, and the markets' initial response speaks for itself," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. "Longer term, the debate about how far and fast the Fed will cut rates is just beginning. Chairman Powell reaffirmed the 2% inflation target, and with tariffs still working their way through the economy, the Fed avoided declaring victory on that portion of its mandate."
Seema Shah, chief global strategist at Principal Asset Management, said that while Powell's speech "clearly leaned dovish, his remarks signal that a 25-basis-point cut is valid, but a 50-basis-point cut is not."
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"Certainly, while the case for easing has strengthened, there is little economic justification for an emergency-sized 50 basis point cut. Should the Fed opt for such a move, markets may interpret it as a sign of political influence rather than data-driven decision-making. This could push inflation expectations and term premia higher, driving long-end yields up and undermining the very conditions that have support risk assets," Shah explained.
Futures markets showed the odds of a 25-basis-point cut trended higher following Powell's speech, rising from 75% yesterday to 89.2% after Powell's speech, according to the CME FedWatch tool. The odds of rates staying at the current range of 4.25% to 4.5% fell from 25% yesterday to 10.8% after the speech, while the probability of a 50-basis-point cut remained at zero.
https://www.foxbusiness.com/economy/fed-chair-jerome-powell-signals-job-market-inflation-outlook-could-allow-interest-rate-cutCanada announced on Friday that it will remove many of the retaliatory tariffs imposed on U.S. goods as a sign of goodwill aimed at resuming trade talks that have stalled.
Canadian tariffs on goods that are compliant with the U.S.-Mexico-Canada Agreement (USMCA) will be lifted under the move, while tariffs imposed on U.S. autos, steel and aluminum will remain in effect for now.
"In this context and consistent with Canada's commitment to USMCA, I am announcing today that the Canadian government will now match the United States by removing all of Canada's tariffs on U.S. goods specifically covered under USMCA," Canadian Prime Minister Mark Carney said at a press conference in Ottawa.
"Canada and the U.S. have now re-established free trade for the vast majority of our goods," Carney added. He also emphasized that compared with trading partners, Canadian exports are still subject to a relatively low level of U.S. tariffs.
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"Canada currently has the best trade deal with the United States. And while it's different from what we had before, it's still better than that of any other country," Carney said.
Carney said that President Donald Trump told him the move would kick-start trade negotiations that have stalled.
"We welcome this move by Canada, which is long overdue," a White House official told FOX News. "We look forward to continuing our discussions with Canada on the Administration's trade and national security concerns."
The Canadian government in late June scrapped plans for a digital services tax that sparked outrcry from U.S. companies, particularly in the tech sector, in an effort to remove a potentially thorny issue from trade negotiations.
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Last month, Carney and his government also dropped talk of further escalating tariffs on the U.S. if the two countries weren't able to reach a deal by Aug. 1.
The U.S. and Canada have consistently been each other's largest or second-largest trading partners, with the Office of the U.S. Trade Representative noting that Canada was the leading destination for U.S. exports in 2024, and the third-largest source of imported goods. Canada exported over three-quarters of its goods to the U.S. and nearly half of its imports came from the U.S.
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The main U.S. exports to Canada are vehicles, machinery and energy products, along with about $30 billion in agricultural goods.
Canada's primary exports to the U.S. are energy products and vehicles, plus more than $40 billion in agricultural goods.
Fox News' Patrick Ward and Reuters contributed to this report.
https://www.foxbusiness.com/economy/canada-lifts-tariffs-some-us-goods-resume-trade-talksCracker Barrel over the past decade has worked closely with the Human Rights Campaign (HRC), changing its company culture to be more inclusive and LGBT-friendly ahead of its controversial store rebrand.
The restaurant chain’s former management and training leader, Steve Smotherman, who spearheaded an LGBT employee resource group at Cracker Barrel, went on to sit on the HRC’s Business Advisory Council, Upward News reported.
"For more than ten years of my time at Cracker Barrel, I had an emphasis on Diversity & Inclusion, especially with LGBTQ workplace inclusion. My training background allowed me to understand the steps of adult learning, facilitate difficult conversations and be effective at it [sic] Diversity & Inclusion content," Smotherman, who joined the company in 2005, wrote.
Cracker Barrel told Fox News Digital that it "has not participated in the Human Rights Campaign Index or had any affiliation with HRC in several years."
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Smotherman said at first he was reluctant to join Cracker Barrel due to it having a bad reputation with the gay community. In 1991, the chain instituted a corporate-wide policy stating that any employee who failed to demonstrate "normal heterosexual values" would be fired. After 11 employees were fired due to their sexual orientation, protests and boycotts were staged throughout the country.
After a few years with the restaurant, Smotherman founded an LGBT resource group that originally had six members. Over time, the group was successful at changing Cracker Barrel’s culture and making the "Old Country Store" more welcoming toward LGBT employees, Smotherman said. He left the company in 2020. The former Cracker Barrel employee would go on to sit on the HRC Business Advisory Council.
The HRC has wielded immense power in the corporate world in recent years with its Corporate Equality Index. The index, which, on its website, is defined as a "national benchmarking tool on corporate policies, practices, and benefits pertinent to lesbian, gay, bisexual, transgender, and queer employees," would assign companies a score based on how inclusive the HRC determined they were to gay employees. Companies would then jockey to increase their scores by instituting more DEI-related policies, some of which, critics alleged, went too far.
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Cracker Barrel was originally given a score of zero when the CEI debuted in 2002. Later that year, the franchise added "sexual orientation" to its list of characteristics protected by its employment discrimination policy. Over time, Cracker Barrel’s score increased. It achieved a score of 80 in 2021 after it had taken some high-profile pro-LGBT stands.
In 2014, it pulled "Duck Dynasty" products from its shelves after star Phil Robertson made remarks that many deemed to be homophobic. In 2019, the restaurant chain barred a pastor from hosting an event at one of its 660 locations after he preached that homosexuals were "freaks" and "animals" who are "worthy of death" in a sermon.
In 2023, the "Old Country Store" celebrated Pride by unveiling rainbow-colored rocking chairs. Cracker Barrel sponsored the Nashville Pride Parade in 2024.
Cracker Barrel is now in the crosshairs of consumer backlash after it unveiled a new logo and restaurant redesign. The logo, which drops the imagery of a man leaning over a barrel and instead just has the restaurant’s name in black text over a yellow barrel-shaped backdrop, has elicited sharp criticism online.
A redesign of the restaurant’s interiors, which dropped the kitschy American aesthetic it was known for in favor of a slick modernist motif, has also roiled longtime fans.
A representative for Cracker Barrel told Fox News Digital in a statement about the new logo that the company's values had not changed.
"Our values haven't changed, and the heart and soul of Cracker Barrel haven’t changed," the company said. "And Uncle Herschel remains front and center in our restaurants and on our menu. He is the face of ‘The Herschel Way,’ the foundation of how our 70,000-plus employees provide the country hospitality for which we are known.
"Cracker Barrel has been a destination for comfort and community for more than half a century, and this fifth evolution of the brand’s logo, which works across digital platforms as well as billboards and roadside signs, is a call-back to the original and rooted even more in the iconic barrel shape and word mark that started it all back in 1969."
https://www.foxbusiness.com/media/cracker-barrel-exec-went-sit-hrc-business-advisory-councilMany veterans face challenges when transitioning from the military to civilian life, and one program aims to help them find a renewed sense of purpose through entrepreneurship.
Semper Fi & America’s Fund – a California-based nonprofit that offers a range of programs to help former service members – has an apprenticeship program that supports veterans in launching businesses by providing education, guidance and financial assistance, according to program director Casey Fisher.
"Veterans face two challenges as they leave the military and pursue entrepreneurship," Fisher told FOX Business. "One is lack of funding… Two is the sense that they are by themselves."
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The apprenticeship program, created around a decade ago, is approximately 12 months long and has about 25 graduates each year. Since its inception, around 250 veterans have graduated from the program, according to Fisher, who has worked at the nonprofit for more than 13 years.
Businesses launched through the apprenticeship program include food trucks, gyms, online shops and comic book stores, according to Fisher.
"You name it," he said, adding that veterans frequently have a natural edge when it comes to entrepreneurship due to the principles they are taught in the military. "We probably have somebody that's tried it, and it's been successful."
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When working with veterans, Fisher said the program focuses first on finding out what motivates them.
A team of advisors then works with program participants to offer a "crash course" in entrepreneurship – covering subjects like finance and marketing – as many former service members come to the program with limited knowledge of business fundamentals, Fisher said.
Once participants reach a place where they can create comprehensive business plans, they can then be granted money to cover the cost of tools, equipment and training, among other essentials, he said.
"We like to think of it as putting ether in the engine," Fisher said. "If you don't have the tools to run your woodworking business, well, we can start to develop what that looks like."
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Semper Fi & America’s Fund was founded in 2003 by military spouses to support those injured while serving in Afghanistan and Iraq. Today, the nonprofit is operated by those same spouses and provides care to service members, veterans and military families, according to its website.
"There is still a massive need," Fisher said. "Post-traumatic stress may not present itself for 20 years and you don't know it. We want to be there for a lifetime of support."
https://www.foxbusiness.com/fox-news-military/nonprofit-helps-veterans-launch-businesses-through-apprenticeship-program-lifetime-supportA new analysis from the Bank of America Institute found that consumer spending on live sporting events has risen markedly compared to pre-pandemic levels, which has also spurred a rise in spending at nearby restaurants and bars.
David Tinsley, senior economist at the Bank of America Institute, told FOX Business in an interview that consumers have picked up their spending on live experiences, like sporting events and concerts, which have surged in the years since the pandemic.
"There was a lot of attention to things like Taylor Swift's 'Eras Tour' and those kind of live gigs. But alongside that, spending on spectator sports has actually been stronger than some of that more live entertainment, music-orientated spending," Tinsley explained.
The Bank of America Institute's analysis found that consumer spending on live sports is up 25% compared with 2019 – outpacing the growth in spending on live entertainment like concerts, according to data from the Bureau of Economic Analysis. Attendance at sporting events has also risen, helping to drive that spending higher.
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The analysis looked at the impact of live sporting events on local economies using Bank of America Institute data, including aggregated and anonymized credit and debit card data, to look at spending in zip codes and stadiums across sporting events and seasons. It reviewed the 2025 FIFA Club World Cup along with Major League Baseball (MLB) games to compare a one-off event to a recurring seasonal event.
At the 12 venues across the U.S. that hosted Club World Cup games, Tinsley said that "within the zip codes in which those games were played over the tournament, we saw big jumps in spending. Roughly speaking, the average spend in zip codes where the tournament took place rose 7% year-over-year, but it peaked at 10% at one point."
Tinsley explained that the rise was driven mostly by consumers spending on food and drinks, though increased spending on parking also factored in. He noted that in the case of the zip code for the MetLife Stadium in East Rutherford, New Jersey, which hosted the semifinals and championship of the Club World Cup, the spending was backloaded around the timing of those games.
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The analysis found similar patterns at MLB games, with spending in the zip code around Yankee Stadium in the Bronx up about 25% compared with the offseason, while Citi Field in Queens is also up nearly 29%. Spending on food and drink drove much of that – up about 76% at Yankee Stadium and 66% at Citi Field.
When the Mets and Yankees clashed in the "Subway Series" this year, the average daily spending nearly doubled near Yankee Stadium and was up 60% near Citi Field when compared to the average daily amounts in the same month last year.
"We found the biggest impact in St. Louis and Boston, and spending there is up about 60%, and some with slightly smaller effects," Tinsley said. "That's partly because we've got some where there's a lot more going on, and then also it's sometimes a bit hard to discern the spending impact from games with other activities going on in the neighborhood."
WORLD CUP 2026 EXPECTED TO BRING ECONOMIC BOOST TO AMERICAN HOST CITIES
Aside from the usual seasonal sporting events, the U.S., Canada and Mexico will also host the FIFA World Cup next year with an expanded field of 48 countries whose teams will play a total of 104 games at stadiums around the continent. Eleven stadiums in the U.S. will host games, along with three in Mexico and two in Canada.
"It will not be surprising at all to see a bigger impact next year. It's a bigger deal essentially in the soccer world, the football world, than the Club World Cup," Tinsley added.
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The U.S. last hosted the World Cup in 1994, when it was the sole host of the event, and the event's return is expected to provide economic benefits.
The Bank of America Institute's analysis noted that a study by FIFA and the World Trade Organization estimated the 2026 FIFA World Cup tournament will boost the economy by about $17 billion and support up to 185,000 jobs.
https://www.foxbusiness.com/economy/despite-economic-headwinds-live-sports-spending-surging-higher-than-pre-pandemic-levelsLidl is pushing forward with plans to expand its New York footprint even as mayoral candidate Zohran Mamdani promotes a proposal for city-owned grocery stores aimed at lowering food costs.
The German grocer, which wants to boost its presence in the U.S., opened three stores in New York this year including one in Lower Manhattan earlier this month. Lidl U.S. CEO Joel Rampoldt told FOX Business the company plans to open four more in the "near future."
If elected in November, Mamdani, a New York State assemblymember who is a self-identified democratic socialist, has said he would redirect city funds from corporate supermarkets to city-owned grocery stores "whose mission is lower prices, not price gouging," according to a video posted on his campaign website.
The announcement hasn't changed Lidl's expansion plans over the next five years.
"We're going to continue to invest in New York. We're going to continue to open stores there," Rampoldt said, noting that if Mamdani is elected and his plan materializes, "then we'll deal with it just like any other situation, but it's not changing our plans in terms of opening more stores in New York and serving more New York customers."
The company currently operates 190 stores in the U.S., 35 of which are in New York state. As of Friday, there are nine in New York City's five boroughs.
Still, it is focusing on adding more stores in its three core markets: the New York Metro, the Washington DC Metro, and Atlanta as it tries to boost its U.S. footprint.
Rampoldt didn't offer an exact number of stores it plans to open over the next five years, though he explained the company will be "adding stores steadily."
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It's an about-face from other grocery executives, specifically John Catsimatidis, the CEO of grocery chain Gristedes, who has threatened to sell or close the business if Mamdani is elected. Catsimatidis has argued that his business couldn't compete in the market if there were city-run supermarkets.
But Mamdani's candidacy has proven controversial with several members of the business community, notably Wall Street's Jamie Dimon, because he is running on a number of controversial policy proposals that could prove costly for the city's finances. Aside from government-run grocery stores, Mamdani has also campaigned on things such as rent freezes and higher taxes on corporations and the wealthy.
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Still, Dimon, who opposed his progressive platform, calling him "more of a Marxist than a socialist," had a reportedly friendly phone call with the mayoral candidate last week as he maintains a solid lead in the NYC mayoral race heading into the November general election.
Mamdani is going up against a crowded field that includes former governor Andrew Cuomo and incumbent mayor Eric Adams, both running as independents, Republican nominee Curtis Sliwa, and defense lawyer-turned-independent candidate Jim Walden.
https://www.foxbusiness.com/lifestyle/discount-grocer-plans-nyc-expansion-despite-mamdanis-government-run-store-proposalA Washington, D.C., business owner from the Chinatown area said that despite the improved safety in the nation's capital amid President Donald Trump's federal crackdown on crime, the move is hurting his sales "big time."
Fox News Digital hit the streets to speak with local business owners in the nation's capital recently to get their take on the increased safety measures ushered in by Trump, including the deployment of National Guard troops to D.C.
One of those business owners, a local liquor store owner who identified himself as John, said the federal takeover in D.C. has led to reduced foot traffic, which, in turn, is causing a major blow to his sales.
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"In a way, it's good because it's safer, but it kills my business. There's nobody around and people are scared, they don't want to be hassled, so they stay home," John said. "It hurts my business big time."
According to John, the new federal police presence has resulted in a roughly 30-40% drop in his store's sales.
John added that whether the increased police presence is there or not, it does not make much of a difference to him, because he did not deal with too many incidents prior to Trump's federal takeover.
However, a second business owner named Philip, said the federal police presence has not been hugely noticeable. He also said that while the crime before Trump's federal takeover was nothing they could not manage, he feared what it could turn into if nothing is done.
"In terms of what I've seen, all I've seen is maybe, like, two days where I've seen [federal police] just roaming around Chinatown. I guess they're in other parts of D.C.," Philip told Fox News Digital. "But, who knows what will happen if we let it sit."
Meanwhile, other local employees and one street vendor in D.C. expressed strong disfavor over Trump's move to clamp down on crime using federal law enforcement support.
"I would say it's unnecessary. I think our troops have better things to be taking care of. I feel like a lot of the troops here maybe even feel that they shouldn't be here," an employee working in D.C. named Malik said. "I think it's invasive and in bad faith," he continued. "I don't think its necessary to stop the criminals with the military. I feel like there are other departments to take care of it."
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"We don't need them. D.C. is not under a state of emergency of any kind. Honestly, if you know anything about D.C. we really police our own, we really take care of our own around here," a street vendor named Ale also said. "All the extra National Guard and all that, it's causing confusion because their training is not to deal with the regular public."
Ale also commented on the noticeable drop in foot traffic in D.C. as well, saying that the police presence has actually disrupted peacefulness in the city.
"It's just not peaceful no more. The people usually, like, even right now, there's usually more traffic, more foot traffic. Businesses – like I'm pretty sure other businesses are taking effect on it. I'm pretty sure their numbers are down," Ale said. "It's just not needed, it has nobody comfortable. Nobody is comfortable right now. It's taking an amazing toll … because like I said people just not coming out and enjoying their time at these moments right now."
https://www.foxbusiness.com/politics/watch-dc-business-owner-says-new-federal-crackdown-may-making-streets-safer-its-hurting-his-salesElon Musk's social media company X Corp has reached a tentative agreement to settle a lawsuit filed by former employees of the company that was then known as Twitter, who argued they were owed $500 million in severance pay.
Both sides disclosed the deal on Wednesday in a court filing, with both asking a U.S. appeals court to delay an upcoming hearing to allow them to finalize a deal to pay the terminated workers and bring the case to a close. The 9th U.S. Circuit Court of Appeals agreed on Thursday to postpone the hearing.
The San Francisco court was scheduled to hear oral arguments on September 17.
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The financial terms of the agreement were not disclosed. The settlement would resolve a proposed class action lawsuit filed by former employees Courtney McMillian and Ronald Cooper.
A federal judge dismissed the employees' lawsuit last year, but they appealed to the 9th Circuit.
Roughly 6,000 employees were terminated after Musk's acquisition in 2022 of the social media giant, which he later rebranded to X, as part of a cost-cutting measure.
Several former employees sued the company over their firings and severance pay.
The lawsuit brought by McMillian and Cooper argued that a 2019 severance plan guaranteed that most workers would receive two months of their base pay plus one week of pay for each full year of service if they were terminated.
The complaint said senior employees like McMillian, who oversaw the company's employee benefits programs, were owed six months of base pay.
However, the company only offered fired workers one month of severance pay at most, and many of them did not receive anything, the lawsuit says.
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Other lawsuits, including one filed by executives such as former CEO Parag Agrawal, are still pending in court.
Musk's efforts to cut the company's workforce came before he led similar cost-cutting measures in his time at the Trump administration's Department of Government Efficiency, or DOGE, which cut tens of thousands of government employees earlier this year as it attempted to downsize the federal workforce.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/musks-x-reaches-tentative-settlement-500-million-lawsuit-over-firings-platforms-former-workersCracker Barrel hosted a pop-up event on Thursday in Manhattan that included line dancing and live country music in the midst of blowback for its new simplified logo design, which removed the iconic image of Uncle Herschel leaning against a barrel.
The "A Taste of Country, Anytime" event was held in Gansevoort Plaza in the Meatpacking District, bringing southern-style comfort food and a country hospitality experience to the Big Apple.
The event featured classic Cracker Barrel menu items, rocking chairs, games, line dancing and a performance by country music singer Jordan Davis, who starred in a new commercial for the company. The closest Cracker Barrel to New York City is about 45 miles away in Mount Arlington, New Jersey.
The pop-up was part of the Tennessee-based company's "All the More" campaign, which also includes new menu offerings at its restaurants and the widely scrutinized redesign of its logo.
CRACKER BARREL STOCK PLUNGES AMID LOGO CHANGE BACKLASH
The new design marks the first time in 48 years that the logo only features text. The Old Country Store opened in 1969 with a text-only logo before adding the iconic image of the man sitting against a barrel in 1977.
"Our values haven't changed, and the heart and soul of Cracker Barrel haven't changed," a company spokesperson said in a statement to Fox Business. "And Uncle Herschel remains front and center in our restaurants and on our menu. He is the face of 'The Herschel Way,' the foundation of how our 70,000-plus employees provide the country hospitality for which we are known."
"Cracker Barrel has been a destination for comfort and community for more than half a century, and this fifth evolution of the brand's logo, which works across digital platforms as well as billboards and roadside signs, is a call-back to the original and rooted even more in the iconic barrel shape and word mark that started it all back in 1969," the spokesperson continued.
As part of its "All the More" campaign, the company is offering customers in the U.S. a complimentary Classic Side with any purchase on Aug. 23 and 24 at its nearly 660 locations nationwide.
"We believe in the goodness of country hospitality, a spirit that has always defined us," Cracker Barrel chief marketing officer Sarah Moore said in the company's announcement. "Our story hasn’t changed. Our values haven’t changed. With 'All the More,' we’re honoring our legacy while bringing fresh energy, thoughtful craftsmanship and heartfelt hospitality to our guests this fall."
But critics have torn into the company since the announcement of the modernized logo on Tuesday, and its stocks have taken a nosedive.
"There are ZERO Cracker Barrel restaurants in Manhattan, so of course that's where Cracker Barrel decided to show off its garbage rebranding initiative," Sean Davis, CEO of The Federalist, wrote on X. "It tells you EVERYTHING about who that company's executives want to impress."
Steak 'n Shake suggested that Cracker Barrel and its CEO Julie Felss Masino were abandoning the restaurant chain's southern charm and identity that customers were used to, saying that sometimes "people want to change things just to put their own personality on things."
"At CB, their goal is to just delete the personality altogether. Hence, the elimination of the 'old-timer' from the signage. Heritage is what got Cracker Barrel this far, and now the CEO wants to just scrape it all away," Steak n' Shake wrote on X.
"At Steak n Shake, we take pride in our history, our families, and American values. All are welcome. We will never market ourselves away from our past in a cheap effort to gain the approval of trend seekers," the burger chain continued.
Country music singer John Rich asked his followers, "Will you go to Cracker Barrel now that it's going woke? This could be a 'Bud Light' moment in the making..."
"WTF is wrong with @CrackerBarrel??!" Donald Trump Jr. exclaimed.
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Tennessee GOP Sen. Marsha Blackburn told Cracker Barrel "there's still time to make this right," later writing: "Make Cracker Barrel Great Again!"
"We think the Cracker Barrel rebrand sucks too," the Democratic Party wrote.
The new logo comes after the company updated the antique Southern feel of its interiors last year to a brighter, modern vibe, a rebranding effort that also sparked criticism from customers.
https://www.foxbusiness.com/lifestyle/cracker-barrel-holds-pop-up-nyc-food-line-dancing-country-concert-amid-backlash-over-new-logo