Trump's 25% tariff could be an existential threat to Canada's recovering auto industryThere's growing concern that potential tariffs on Canadian imports to the U.S. could be an existential threat to the country's recovering automotive industry.[Collection]
U.S. sues Walmart, Branch Messenger over payment accounts for delivery driversThe CFPB filed a complaint Monday against Walmart and Branch Messenger for allegedly forcing delivery drivers to use costly deposit accounts to get paid.[Collection]
Nordstrom going private in $6.25B deal with founding family, Mexican retailerThe family that founded Nordstrom and El Puerto de Liverpool are buying Nordstrom, paving the way for the retailer to return to operating as a privately held company.
The family that founded Nordstrom and El Puerto de Liverpool are buying Nordstrom, paving the way for the retailer to return to operating as a privately held company.
Nordstrom on Monday announced its agreement for the Nordstrom family and the Mexico-based company to buy out shares they don’t already own.
The planned all-cash transaction, worth $6.25 billion, comes about 10 months after Nordstrom set up a special committee for weighing proposals from the Nordstrom family. The Nordstrom family and El Puerto de Liverpool put forward a $23-per-share offer to take the company private in September.
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The Nordstrom family, including CEO Erik Nordstrom, CBO Pete Nordstrom and others, and El Puerto de Liverpool will pay $24.25 per share to acquire the retailer, Nordstrom said Monday.
That price "represents a premium of approximately 42% to the Company’s unaffected closing common stock price on March 18, 2024, the last trading day prior to media speculation regarding a potential transaction," the retailer said.
"The special committee of the Nordstrom Board of Directors reviewed this proposal against the Company’s standalone prospects for growth. Following a rigorous and independent evaluation and consultation with outside financial and legal advisers, the special committee unanimously concluded that this transaction offers greater value for all public shareholders at a significant premium to the unaffected share price," Nordstrom chairman Brad Tilden said.
Nordstrom, the Nordstrom family and El Puerto de Liverpool anticipate the completion of the transaction will occur in the first six months of next year. It will require "approval of holders of two-thirds of the Company’s common stock and the holders of a majority of the shares of the Company not owned by the Nordstrom Family or Liverpool or their respective affiliates and the Company’s directors and Section 16 officers" to go through, according to Nordstrom.
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The retailer will officially return to being privately held after that. It has been a publicly traded company for over five decades, since its initial public offering in 1971.
The Nordstrom family will hold 50.1% of the retailer post-transaction, making them the majority owners, according to the company. El Puerto de Liverpool’s stake will be 49.9%.
The company, co-founded by John W. Nordstrom and Carl Wallin, dates back to 1901. It originated in Seattle, the city where the pair opened their first store and where the company has its headquarters to this day.
Erik Nordstrom said the news "marks an exciting new chapter for the business."
As of the end of the third-quarter, the retailer operated 93 Nordstrom stores, six Nordstrom Local sites, 280 Nordstrom Rack stores and two Last Chance clearance stores, according to its third-quarter earnings report.
HOW MACY'S CAN TURN AROUND ITS BUSINESS AS DEPARTMENT STORE STRUGGLES
Nordstrom generated $10.69 billion in revenue over the first three quarters of 2024. Its net earnings, meanwhile, were $128 million in the same timeframe.
In late November, the retailer forecasted "flat to 1.0 percent growth" in annual revenue for the year "versus the 53-week fiscal 2023."
Its market capitalization hovered around $3.99 billion as of Monday mid-morning.
https://www.foxbusiness.com/retail/nordstrom-going-private-6-25b-deal-founding-family-mexican-retailerTrump's 25% tariff could be an existential threat to Canada's recovering auto industryThere's growing concern that potential tariffs on Canadian imports to the U.S. could be an existential threat to the country's recovering automotive industry.[Collection]
U.S. sues Walmart, Branch Messenger over payment accounts for delivery driversThe CFPB filed a complaint Monday against Walmart and Branch Messenger for allegedly forcing delivery drivers to use costly deposit accounts to get paid.[Collection]
U.S. sues Walmart, Branch Messenger over payment accounts for delivery driversThe Consumer Financial Protection Bureau filed a complaint Monday against Walmart and Branch Messenger for allegedly forcing delivery drivers to use costly deposit accounts in order to get paid.[Collection]
Teamster driver vows to 'hit Amazon hard,' making case for strike ahead of Christmas: 'Tired of being abused'Teamster driver Christopher Velez made the case for the ongoing strike against Amazon on Monday, saying union workers are "tired of being abused."
Teamster drivers have expanded their strike against Amazon mere days before Christmas, and thousands are staying strong, vowing to hold out for as long as it takes to bring the online retail giant to the table.
Teamster driver Christopher Velez is among those marching in the picket line. Standing outside in frigid twelve-degree temperatures early Monday in Maspeth, New York, he spoke with FOX Business' Madison Alworth about the ongoing strike.
"Put yourself in our shoes," he said. "We're out here. We're fighting for something. We're tired of being abused as slaves. Slavery ended a long time ago, so I'm just hoping that everything gets resolved soon and everything goes back to normal."
TEAMSTERS UNION LAUNCHES HISTORIC NATIONWIDE STRIKE AGAINST AMAZON: ‘PAYING THE PRICE’
Velez said he's "not really worried" about the prospect of Amazon never coming to the table because "there's going to be a time that they're going to have to negotiate with us one way or another."
"They don't like that we're Amazon employees, but we're Amazon employees, and we're fighting out here," he continued. "This is global. This is worldwide from Europe to the United States. We're going to hit them. We're going to hit them hard."
Amazon has held firm, however, insisting they have no intention of sitting down with the Teamsters because, in their words, they "don't represent any Amazon employees."
Amazon national spokesperson Kelly Nantel told FOX Business last week that "there is no strike" and branded the movement as a "protest."
"There are no Amazon employees or drivers who are involved in this activity. What we have is a protest that has been created and manufactured by the Teamsters to make a point," she said, adding, "But I think it's really important that viewers understand that the Teamsters don't represent any Amazon employees, and they don't represent any of our third-party drivers either."
Teamsters spokesperson Kara Deniz responded to Amazon's remarks, insisting the company is "gaslighting the American public with their false narratives."
"The truth is, over 20 bargaining units representing nearly 9,000 employees have successfully organized because for many years the company has exploited and abused workers, and these workers are fed up and fighting back," she said.
"No matter how massive Amazon’s corporate PR machine is, they cannot fool the American public into believing drivers delivering Amazon packages in Amazon-branded vans don’t actually work for Amazon," Deniz added. "No one believes this nonsense. Amazon needs to stop avoiding their legal obligation to these workers and get to the bargaining table now."
The strike, which began last week, initially included seven hubs across California, Georgia, Illinois and New York.
Workers in two additional locations – Staten Island and at another location in California – walked off the job over the weekend to join the strike.
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Teamsters Union President Sean O'Brien encouraged the expansion.
"Amazon executives are cowards hiding behind lies, threats and intimidation to dodge their responsibilities to workers and the public," he said. "It takes real courage to stand up to a corporate bully, and Amazon Teamsters are doing just that."
The union claims Amazon ignored their Dec. 15 deadline to negotiate new contracts for higher wages, better benefits and safer working conditions.
FOX Business' Sarah Rumpf-Whitten contributed to this report.
https://www.foxbusiness.com/media/teamster-driver-hit-amazon-hard-case-strike-christmas-tired-abusedThe Container Store files for bankruptcy, insists it's here to stayThe Container Store, which was recently delisted from the New York Stock Exchange, has filed for bankruptcy protection in an effort to try and turn its business around.
The Container Store filed for Chapter 11 bankruptcy protection on Sunday in an attempt to save the business and ensure future profitability.
The move had been anticipated by Wall Street analysts as the retailer's financial struggles continued to grow. The Texas-based company with 103 stores across 34 states and the District of Columbia sells storage products and custom closets.
The Container Store said this doesn't mark the end of the retailer. The company said it filed for voluntary protection under Chapter 11 in the bankruptcy court for the Southern District of Texas as it plans to "implement a recapitalization transaction to bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability."
At least 90% of the company's lenders agreed to support its bankruptcy plan, which would provide the company with $40 million in fresh financing, help it reduce its debt by at least $45 million and ease debt payments as well as extend the time it has to pay off remaining debts.
WHY THE CONTAINER STORE COULD BE NEXT RETAILER TO GO BANKRUPT
The company said it will continue to operate its business as usual and provide products and in-home services to customers "without disruption." Additionally, its stores and its website will "continue to operate as normal." The company also said all the customer deposits and orders will be honored and delivered as normal.
However, a source close to the matter told FOX Business that the process "allows for companies to renegotiate the terms of their leases to align their store footprint with market realities and business needs." If the company fails to "achieve meaningful rent reductions, they may be forced to close a select few locations," the source said.
"The Container Store is here to stay," CEO Satish Malhotra said, adding that the bankruptcy process will help the company advance its business and strengthen its capabilities.
"We are particularly excited about the future of our custom space offerings, which continue to demonstrate strength," Malhotra said. "We intend to maintain our strong workforce and remain committed to delivering an exceptional experience for our customers while we execute this recapitalization and for many years to come."
BED BATH & BEYOND BRAND IS COMING BACK TO PHYSICAL STORES
The retailer known for its organizing solutions had rapidly gained fame through the success of Netflix's "Tidying Up" series, which premiered in 2019.
Today, it's been contending with a weaker housing market and a growing availability of cheaper alternatives. Earlier this month, shares of The Container Store were halted on the New York Stock Exchange as it prepared to delist the stock, which had fallen below the NYSE’s continued listing standard. This standard requires listed companies to maintain an average global market capitalization of at least $15 million over 30 consecutive trading days.
Eric Snyder, partner at New York City-based Wilk Auslander LLP, previously told FOX Business that the housing market conditions and growing competition have "made this brick-and-mortar company… an unnecessary purchase."
The company doesn't benefit from holiday sales because their products are not considered discretionary purchases, which is exacerbating its woes, according to Snyder.
"Because of this, plus the loss of a $40 million lifeline from Beyond, bankruptcy and a quick sale is the only option," Snyder said. Beyond Inc., which owns Bed Bath & Beyond and Overstock.com, backed out of a deal to invest $40 million in the Container Store Group as part of a new partnership.
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Beyond originally planned to invest in the company and utilize a section within the Container Store’s real estate locations to showcase its assortment of kitchen, bath and bedroom items, which would be co-branded. But Beyond Inc. Executive Chairman Marcus Lemonis said last month that the company had concerns that The Container Store might not be able to reach an agreement with its lenders on terms that would meet the financial needs of the deal.
Latham & Watkins LLP served as The Container Store's legal counsel. Investment bank Houlihan Lokey served as its financial adviser. FTI Consulting served as its financial and communications advisor, and A&G Realty served as real estate advisor.
https://www.foxbusiness.com/lifestyle/container-store-files-bankruptcy-claims-its-here-stayU.S. sues Walmart, Branch Messenger over payment accounts for delivery driversThe Consumer Financial Protection Bureau filed a complaint Monday against Walmart and Branch Messenger for allegedly forcing delivery drivers to use costly deposit accounts in order to get paid.[Collection]
Nordstrom to go private in $6.25 billion deal with founding family, Mexican retailerNordstrom will become a private company after it agreed to a buyout deal valued at $6.25 billion from Nordstrom's founding family and Mexican department store El Puerto de Liverpool.[Collection]
13 anonymous media executives make predictions for the new yearBig deals dominate this year's media and entertainment predictions from 13 anonymous executives.[Collection]
Lego is reinventing its iconic brick sets and keeping the toy industry afloatThe toy industry is headed for its second consecutive annual sales decline, but it's got one thing propping it up — Lego.[Collection]
13 anonymous media executives make predictions for the new yearBig deals dominate this year's media and entertainment predictions from 13 anonymous executives.[Collection]
Trapped on a Runaway Train: Looking Back on 2024
TORONTO, Canada, Dec 23 (IPS) - Do you sometimes feel like a hamster on its wheel, or perhaps stuck on a runaway train hurtling towards the abyss? Whatever metaphor one might choose for our world looking back on 2024, rainbows don’t easily spring to mind.
Read the full story, “Trapped on a Runaway Train: Looking Back on 2024”, on globalissues.org →
https://www.globalissues.org/news/2024/12/23/38685 [Collection]Food Crises Intensify in Winter Ravaged War Zones
BUCHAREST, Romania, Dec 23 (IPS) - The days are short with bitterly cold rain in Bucharest, the capital of Romania, the largest Balkan country located south of the Ukraine. Over the border, temperatures in Kyiv will plummet to a daily average of zero in December as the Ukraine war grinds on.
Read the full story, “Food Crises Intensify in Winter Ravaged War Zones”, on globalissues.org →
https://www.globalissues.org/news/2024/12/23/38687 [Collection]Japanese Bank Criticized for Financing Mozambique LNG Project Blamed for Displacement
NAIROBI, Dec 23 (IPS) - Climate and environmental activists from Japan have criticized the Japan Bank for International Cooperation (JBIC) for financing the controversial Mozambique Liquefied Natural Gas (LNG) project to the tune of USD 3 billion in a loan signed in July.
https://www.globalissues.org/news/2024/12/23/38686 [Collection]In-person shopping makes a comeback amid record-spending holiday seasonThe National Retail Federation predicts nearly half of all shoppers will head to department and discount stores to knock out their shopping lists this holiday season.
Shoppers are ready to drop some cash this holiday season as total spending this year is expected to be at least $24 billion higher than last year, according to the National Retail Federation.
Online shopping is still the biggest hit, but in-person shopping is making a comeback and the NRF predicts nearly half of all shoppers will head to department and discount stores to knock out their shopping lists.
Store owners at the Galleria at Sunset in Henderson, Nevada, said it just gets busier each year.
CYBER MONDAY SPENDING HITS RECORD $13.3 BILLION
"Black Friday was great. We hit goal. We actually passed goal, so that was good. It's better than last year. So that was good for us. Everybody always likes to try on stuff, too. So I think that's what keeps the malls open," said Bring it Back owner Brandon Nova.
Some spots at the Galleria at Sunset are seeing a flood of visitors, especially during the holiday season. Store owners and employee said the customers want that in-person experience.
SENDING HOLIDAY GIFTS? HERE ARE THE DEADLINES TO GET THEM OUT IN TIME
"Most of the families have the reason to come here and make their kids come here. This is the big reason for them, you know, to come to the mall," said Crazy Bungee owner Duygu Beg.
STOP OVERSPENDING OVER THE HOLIDAYS AND START THE NEW YEAR OFF FINANCIALLY STRONG
The mall's general manager said it hasn’t been this busy since the pandemic.
"I would say since COVID, it's been the first holiday season where … we're feeling the holiday spirit. The customers, you can just feel that they're happy to be out shopping, happy to be out, you know, experiencing the holiday season," said Galleria at Sunset general manager Heather Cox.
There has been a huge rebound in in-person shopping over the last four years as consumers start to enjoy the social aspect of going to the mall again, according to the NRF.
"We, as consumers, don't shop just because we need something," said Mark Mathews, NRF's executive director of research. "One of the main reasons that people go out is for deals, but it's also to be with family and friends and be engaged and a fun activity. And for a lot of people, shopping is a fun activity. So, you know, I don't think we're going to ever see an end of in-store shopping."
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Gift cards are the most popular item on people’s wish lists this year, followed by clothes and accessories, then books and other media, according to the NRF.
https://www.foxbusiness.com/economy/in-person-shopping-makes-comeback-amid-record-spending-holiday-seasonNissan, Honda announce plans to consider mergerNissan and Honda agreed to consider a merger and set up a joint holding company, which would create the world's third-largest automaker.
Japanese automakers Nissan and Honda agreed to consider a merger and set up a joint holding company, which would create the world's third-largest automaker.
The two companies said in a statement Monday that they would seek combined sales of $191 billion and an operating profit of more than $19 billion through the potential merger.
The companies hope to wrap up negotiations around June 2025 and set up a holding company by August 2026, when both companies' shares will be delisted.
The merger talks come as both automakers struggle to compete with the largest global electric vehicle makers, including Tesla and Chinese automaker BYD.
WHAT A HONDA-NISSAN MERGER COULD MEAN FOR THE AUTO INDUSTRY AND CONSUMERS
The merger would create the world's third-largest auto group by vehicle sales, behind Toyota and Volkswagen.
Honda, the second-biggest Japanese automaker behind Toyota, has a market capitalization of more than $40 billion, while third-ranked Nissan is valued at about $10 billion.
"Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future," Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said in a statement. "If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone."
Honda Director and Representative Executive Officer Toshihiro Mibe said: "Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing.
"Honda and Nissan are two companies with distinctive strengths," Mibe added. "We are still at the stage of starting our review, and we have not decided on a business integration yet, but in order to find a direction for the possibility of business integration by the end of January 2025, we strive to be the one and only leading company that creates new mobility value through chemical reaction that can only be driven through synthesis of the two teams."
HONDA, NISSAN ALLEGEDLY PLANNING TO START MERGER TALKS IN LIGHT OF EV COMPETITION: REPORT
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The majority of the holding company's board will be appointed by Honda.
The companies have been exploring ways to bolster their partnership, including saying in March that they were considering partnering on electrification and vehicle intelligence and announcing in August an agreement to carry out joint research into fundamental technologies in the area of platforms for next-generation software-defined vehicles.
They also agreed to widen the collaboration to Mitsubishi Motors.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/nissan-honda-announce-plans-consider-mergerTargeting Transformative Disaster Risk Reduction in Asia-Pacific Subregions
BANGKOK, Thailand, Dec 23 (IPS) - In December 2024, Vanuatu experienced yet another harrowing reminder of its vulnerability to disasters—a powerful 7.4 magnitude earthquake struck the Pacific nation’s capital, Port Vila, leaving 14 dead, over 200 injured, and thousands more affected.
https://www.globalissues.org/news/2024/12/23/38684 [Collection]US & Western Allies Provide a Hefty 260 Billion Dollars in Military Aid to Ukraine
UNITED NATIONS, Dec 23 (IPS) - The United States and Western allies have jointly provided a staggering $260 billion in aid, mostly weapons and military assistance, to Ukraine as the long-drawn-out conflict continues following Russia’s invasion in February 2022.
Speaking to reporters at NATO headquarters in Brussels early December, US Secretary of State Antony Blinken said: “All told, the United States has provided $102 billion in assistance to Ukraine, and our allies and partners, $158 billion”.
https://www.globalissues.org/news/2024/12/23/38683 [Collection]Bezos shoots down $600M wedding rumors: 'Don't believe everything you read'Jeff Bezos shot down rumors that initially came from the Daily Mail and were shared by other outlets about a lavish wedding in Colorado next weekend.
Billionaire Jeff Bezos on Sunday shot down reports that he is about to drop a staggering $600 million on a star-studded Aspen wedding to his fiancée, Lauren Sanchez.
The nuptial news originated from an exclusive Daily Mail report which cited three anonymous sources saying the Amazon founder's lavish wedding was set for Dec. 28. The report claimed that actor Kevin Costner's Dunbar Ranch and sushi restaurant Matsuhisa would be the venues for the ceremony and reception.
Numerous other sites picked up on the story, citing the Daily Mail. One such report caught the eye of Bezos' fellow billionaire Bill Ackman, who posted on X, that the dollar figure was "not credible."
JEFF BEZOS TELLS ELITE AUDIENCE HE'S 'VERY OPTIMISTIC' ABOUT TRUMP'S ANTI-REGULATORY AGENDA
"Unless you are buying each of your guests a house, you can't spend this much money," Ackman posted.
Bezos, who is worth an estimated $238.5 billion, responded to Ackman's tweet, not only disputing the price tag but appearing to imply there is no wedding in the works next weekend.
"Furthermore, this whole thing is completely false – none of this is happening," Bezos posted to X. "The old adage ‘don’t believe everything you read’ is even more true today than it ever has been."
Bezos continued, paraphrasing a quote often attributed to Mark Twain.
"Now lies can get ALL the way around the world before the truth can get its pants on. So be careful out there folks and don’t be gullible," he wrote.
Bezos said it "will be interesting to see if all the outlets that ‘covered’ and re-reported on this issue a correction when it comes and goes and doesn’t happen."
Bezos, 60, and Sanchez, 55, have been engaged since May 2023. Prior to their engagement, their relationship had spanned nearly five years. Both had prior marriages, with Bezos having split from Mackenzie Scott after two decades.
Bezos' net worth makes him the second-richest man in the world after Elon Musk, according to Forbes.
He currently owns The Washington Post and aerospace company Blue Origin.
"This is an important reminder for you, as an owner of one of the important newspapers in the country, why it is so important that you take whatever steps are necessary to make sure that your reporters get the facts right," Ackman said in response to Bezos shooting down the nuptial rumors.
Sanchez is a New York Times best-selling author, Emmy-award winning journalist and vice president of the Bezos Earth Fund, according to her Instagram bio.
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Blue Origin did not immediately respond to a FOX Business inquiry about whether Bezos and Sanchez will be married the weekend after Christmas.
FOX Business' Aislinn Murphy contributed to this report.
https://www.foxbusiness.com/business-leaders/bezos-shoots-down-600m-wedding-rumors-dont-believe-everything-you-readDisneyland places restriction on popular holiday item, as demand soarsMickey-shaped gingerbread cookies at Disneyland in California are being limited to 5 per order, due to high demand and people buying in large quantities.
Disneyland Resort guests looking to stock up on a favorite holiday treat will have to settle for just a few per customer this year, or get creative as some have.
Mickey Mouse-shaped gingerbread cookies are currently selling for $7.49 each, but are limited to "five per person, per transaction," according to the online menus for park eateries, including the Jolly Holiday Bakery Cafe and Market House.
"It’s literally Christmas in a cookie," parkgoer Tiffany Calderon said to SFGATE. She said her family visits Disneyland three times a year, making it their mission to collect 20 Mickey gingerbreads during the holidays in over to freeze at home and eat year-round. "It feels like home," she added. "Just cuddling up on a couch, watching some Christmas movies, getting a gingerbread cookie out and just — small bites, make it last. Make it linger."
This year, however, Disneyland is trying to prevent hoarding – not only by capping the amount people can buy at one time, but also by occasionally suspending mobile sales to keep the items from selling out.
DISNEYLAND GETTING REVAMPED RIDE AHEAD OF THANKSGIVING, MONTHS AFTER DISNEY WORLD
Some guests, however, are going around the park to place orders for the mouse-shaped cookies at multiple storefronts – and even heading over to the Grand Californian Hotel, where they sell for $10 a pop.
DISNEY NAMES NEXT CHAIRMAN, NEW CEO TO BE ANNOUNCED IN 'EARLY 2026'
Many say they don't just love the taste of the snack, noting that it has sentimental value too.
"This is how Christmas started," Jennifer Walker told SFGATE, remembering how she and her parents "would do the Holiday Time at Disneyland Tour, and they would serve that specific cookie."
Walker said she collected 24 cookies during her last visit to the "Happiest Place on Earth," with a total of 35 this year. But they're not all for her.
"One of them went to my parents’ graveside," she told SFGATE. "So my mom still gets her Mickey gingerbread."
She passed out others as work gifts.
"It turned out my coworker had the same tradition with her mom," Walker said. "Christmas would start when they would have their Mickey gingerbread. So when I had it on her desk, she literally cried because she wasn’t going to make it this year. She’s like, ‘Oh my God, you’re going to help us keep a Christmas tradition.’"
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Gingerbread is big business at Disney parks, and not just in edible form. There is a lot of merchandise featuring the festive treat, such as clothing and gingerbread house popcorn buckets, which can also be found all the way across the country at Walt Disney World in Orlando, for those who are lucky.
Disneyland did not immediately respond to a Fox Business inquiry.
https://www.foxbusiness.com/lifestyle/disneyland-places-restriction-popular-holiday-item-demand-soarsBing Crosby's former California desert oasis home on the market for $13.5 millionBing Crosby's former home in California's Coachella Valley is on the market for $13.5 million. The home boasts a swimming pool and three guest casitas.
Bing Crosby's former home in the California desert is officially on the market.
The Palm Desert estate in the Coachella Valley sits on two and a half acres of land in the exclusive Ironwood Country Club community, and features many sought-after amenities, as well as decades of Hollywood history.
Originally built in 1955, the home was last purchased in 2012 for $3 million by healthcare executive Randall Burt and his attorney wife, Julia. Per the listing, the couple fully renovated the home.
Spread out over a main house and three guest casitas, the property features five bedrooms and seven baths at 6,100 square feet. The home is currently on the market for $13.5 million, in a listing held by Susan Canavan and Deirdre Coit of Canavan Coit & Associates at Compass.
ON THIS DAY IN HISTORY, DECEMBER 25, 1941, BING CROSBY PERFORMS 'WHITE CHRISTMAS' FOR THE FIRST TIME
According to The Wall Street Journal, the Burts are selling the Spanish ranch-style home due to their desire to downsize.
Following a long gated driveway lined with palm trees is the large curved glass front door, which is found after a tiled pathway under wooden beams.
Once inside the main house, guests are immediately greeted with the home's open floorplan, with the kitchen on one side and the living room on the other.
On the right-hand side is the home's living room, which features tan tiled flooring and a flat-screen TV placed on top of a wood-burning fireplace. The room also includes a wall of windows and glass doors, which not only bring in natural light but also lead to the backyard.
To the left of the foyer is the home's formal dining area and kitchen, with both rooms containing the same tan tiled flooring as the living room. The dining room boasts enough space for a table suitable for eight, which is currently housed under two unique light fixtures.
Just steps away from the dining room is the spacious kitchen, which features two eat-in islands, as well as quartz countertops and light fixtures hanging from the beamed ceiling.
In addition, the room also boasts many appliances, including an ice maker, gas cooktop, microwave and self-cleaning oven, and has tons of storage and counter space.
The main house also includes a bar area, which features a second lounging area with a flat-screen TV, as well as a wine cellar.
Elsewhere in the home is the sizable primary bedroom, which not only has direct access to the outdoor spa area, but also boasts dark hardwood floors, a ceiling fan and a wood-burning fireplace.
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Attached to the primary bedroom is the luxurious en-suite bathroom, which features a large walk-in stand-up shower, as well as a soaking tub, a small flat-screen television, tiled floors with a playful print, and a large storage area for towels and toiletries. The en-suite also has its own private access to the backyard.
The main house also features a guest bedroom.
Also on the property are three guest casitas, each of which has a front patio with views of not only the beautiful estate, but also the surrounding Santa Rosa and San Jacinto mountain ranges.
When it comes to the home's outdoor living space, there is a fireplace and a TV, and just steps away is the outdoor dining area with a large table.
One of the main highlights of the home is the beautifully landscaped backyard, which boasts palm trees in every direction, a large open grassy area and a sizable swimming pool with a hot tub attached. The swimming pool area is surrounded by lounge chairs.
In addition, the grounds also house a tennis and bocce ball court, making it the perfect place to entertain guests.
https://www.foxbusiness.com/fox-news-entertainment/bing-crosbys-former-california-desert-oasis-home-market-13-5-millionPersonal finance guru Dave Ramsey warns over 'mind-blowing' Christmas debtRamsey Solutions personality and personal finance expert Dave Ramsey recommends tackling holiday spending and avoiding debt with a detailed Christmas list.
Holiday spending is putting a big strain on American wallets and leaving some in debt well past the holiday season; however, personal finance expert Dave Ramsey said 'mind-blowing' debt can be avoided.
"The average over the last several years has been that people pay their credit card debt from Christmas into May," The Ramsey Solutions personality shared during an appearance on "Fox & Friends" on Wednesday. "So it takes them about half the year to come back, and because they don't plan for Christmas… it sneaks up on them like they move it or something."
According to a study conducted by Achieve, the average American will spend more than $2,000 for the 2024 holiday season, breaking down the outflow of cash into travel and holiday spending on hosting parties, food, clothing, and other gifts.
STOP OVERSPENDING OVER THE HOLIDAYS AND START THE NEW YEAR OFF FINANCIALLY STRONG
Another recent survey by CouponBirds indicated that parents will spend an average of $461 per child and that 49% of parents will go into debt to pay for this Christmas.
The Ramsey Solutions personality balked at the amount of money shelled out for the season while explaining that the holiday should not come as a shock, and that spending for it should be planned out.
"Those numbers are mind-blowing when you look at the averages there. That's a lot of money going out," Ramsey added, "all in the name of happiness comes from stuff, and it doesn't."
He also weighed in and agreed on advice from fellow expert, Ramsey Solutions personality and daughter Rachel Cruze, who suggested making a list of people to shop for and noting how much to spend on each.
"You know, I'm old, and I met a guy from the North Pole," the expert joked. "He said ‘make a list and check it twice,' so Rachel's right."
Ramsey followed up by expanding on his daughter's suggestion: "If you do that, and you put a name beside it, and then you total up those dollar amounts, you have what's called a Christmas budget."
"If you stick to that, you won't overspend," "The Ramsey Show" host remarked.
The money guru pointed out what he sees as problematic with the holiday season – not taking a shot at Christmas itself – but referring back to the spending issues.
"The problem with Christmas is not that we enjoy buying gifts for someone else. That's a wonderful thing," he reassured. "The problem is we impulse our butts off, and we double up what we spend because the retailers make all their money during this season."
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Ramsey concluded by advising shoppers to be wary of retailers and to not be ensnared by their marketing strategies.
"They're great merchandisers," he warned. "They're great at putting stuff in front of us that we hadn't planned to buy."
https://www.foxbusiness.com/media/personal-finance-guru-dave-ramsey-reveals-problem-christmas-spending-we-impulse-our-butts-offSpaceX launches 30 satellites in second mid-inclination rideshare missionSpaceX's Falcon 9 launched 30 satellites Saturday morning from California for the second dedicated rideshare mission to mid-inclination orbit.
SpaceX's Falcon 9 launched 30 satellites on Saturday for the second dedicated rideshare mission to mid-inclination orbit.
The Falcon 9 lifted off from Vandenberg Space Force Base in California at 3:34 a.m. local time on the Bandwagon-2 mission, according to Space News. The Falcon 9 first stage landed back at the launch site eight minutes and 15 seconds after liftoff, just as the second stage finished its burn.
The largest of the 30 payloads on the Bandwagon-2 mission was the third "425 Project" reconnaissance satellite for the South Korean military, the outlet reported. The first satellite of its kind was launched on a Falcon 9 a year ago and the second was on a Bandwagon-1 mission in April.
The other customers on the launch included a HawkEye 360, which deployed three satellites called Cluster 11 for radio-frequency intelligence. The company said the satellites feature advanced payloads for obtaining data and transmitters for relaying it to ground stations.
Another customer is Finnish company Iceye, which launched two synthetic aperture radar (SAR) satellites on Bandwagon-2 that are capable of proving radar imagery at a resolution of 25 centimeters.
Other companies with spacecraft on Bandwagon-2 include Sidus Space, Tomorrow.io, True Anomaly and Think Orbital.
SpaceX announced the Bandwagon line of rideshare missions last year to complement its Transporter series of dedicated rideshare missions to sun-synchronous orbits.
ELON MUSK'S SPACEX DEEPENING TIES TO US INTELLIGENCE, MILITARY AGENCIES
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The company said it offered mid-inclination missions because they were the orbits most commonly requested following sun synchronous. The company said it would carry out two Bandwagon missions this year and two additional ones next year.
https://www.foxbusiness.com/fox-news-air-space/spacex-launches-30-satellites-second-mid-inclination-rideshare-missionTrump floats idea of US reclaiming Panama Canal: 'Foolishly gave it away'President-elect Trump implied Saturday he may demand U.S. ownership of the Panama Canal, claiming the U.S. is being ripped off by unfair tolls.
President-elect Trump unleashed a tirade against Panama Canal tolls Saturday, claiming the U.S. is being ripped off by high prices.
In a Truth Social post Saturday, Trump complained at length about the fees levied on U.S. ships going through the Big Ditch. The Panama Canal's tolls can range from three to six figures depending on how large a vessel is and how much cargo it carries, with the largest ships being charged as much as $500,000.
"The Panama Canal is considered a VITAL National Asset for the United States, due to its critical role to America’s Economy and National Security," Trump wrote in his post. "A secure Panama Canal is crucial for U.S. Commerce, and rapid deployment of the Navy, from the Atlantic to the Pacific, and drastically cuts shipping times to U.S. ports."
The incoming president criticized former President Carter, who Trump said "foolishly gave it away, for One Dollar." In 1977, Carter signed the Panama Canal Treaty, which phased out U.S. control of the canal by 1999.
STEPHEN COLBERT CALLS ABC 'STUPID' OVER SETTLEMENT WITH TRUMP
Carter also signed the Neutrality Treaty, which ensured that the tolls would be equal for all nations. Trump implied that the U.S. should be given preferential treatment in his post.
"Our Navy and Commerce have been treated in a very unfair and injudicious way," the president-elect argued. "The fees being charged by Panama are ridiculous, especially knowing the extraordinary generosity that has been bestowed to Panama by the U.S. This complete 'rip-off' of our Country will immediately stop."
Trump also floated the idea of demanding the canal's ownership be returned to the United States if American ships are not given fair treatment.
"[The Panama Canal] was not given for the benefit of others, but merely as a token of cooperation with us and Panama," Trump concluded. "If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to us, in full, and without question.
TRUMP, MUSK FIRE BACK AFTER DEM LEADER BLAMES HOUSE GOP FOR BREAKING BIPARTISAN AGREEMENT
"To the Officials of Panama, please be guided accordingly!"
Trump also noted the canal was built at a massive cost to the United States, though he incorrectly claimed that 38,000 Americans died while building it. The National Institutes for Health estimates the number of people who died while working during the American construction of the canal was around 5,600.
It is unclear how many of those who died were American because a large part of the labor force was recruited from the Caribbean. Trump may have included the roughly 22,000 workers who died while the French attempted to build the canal in the 1880s.
The Department of Government Efficiency's X account recently claimed the Panama Canal cost U.S. taxpayers $15.7 billion. The U.S. government does not subsidize the canal. Ships that pass through it pay tolls.
https://www.foxbusiness.com/politics/trump-floats-idea-u-s-reclaiming-panama-canal-decries-tolls-foolishly-gave-awayTrump transfers almost $4 billion of his Truth Social parent company shares to a trust in surprise move
President-elect Trump transferred almost all his shares in the parent company of Truth Social to the Donald J. Trump Revocable Trust, according to a Securities and Exchange Commission filing on Thursday.
Trump Media & Technology Group (TMTG) is the parent company of Truth Social, a social media app that positions itself as an alternative to mainstream apps like Instagram and X.
Since its listing, Trump Media has been popular with traders who viewed it as a speculative bet on Trump winning the Nov. 5 election. Trump has maintained up to 57% ownership of the company. In the lead up to the election, his stake was worth almost $4 billion.
STEPHEN COLBERT CALLS ABC 'STUPID' OVER SETTLEMENT WITH TRUMP
TMTG was founded in Feb. 2021 by Trump and Andy Dean Litinsky. The company started trading on the NASDAQ in March 2024.
CREW Vice President for Communications Jordan Libowitz bashed Trump's stock transferal decision, saying that there are still ethical concerns for the president-elect.
"Yes, he put it in a trust, but [he] basically did nothing to assuage any ethical fears," Libowitz told Politico. "This is like a head nod in the direction of ethics without taking an actual ethical step."
TRUMP, MUSK FIRE BACK AFTER DEM LEADER BLAMES HOUSE GOP FOR BREAKING BIPARTISAN AGREEMENT
A spokesperson for the Trump-Vance transition team, Karoline Leavitt, told Politico that Trump "removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary, becoming the first President to actually lose net worth while serving in the White House."
Truth's Social worth soared in the weeks leading up to Election Day. In October, the stock price rose almost 9% to $34.17.
The Trump campaign did not immediately respond to a request for comment from Fox News Digital.
Fox Business' Sarah Rumpf-Whitten contributed to this report.
https://www.foxbusiness.com/media/trump-transfers-almost-4-billion-his-truth-social-parent-company-shares-trust-surprise-moveTrump transfers almost $4 billion of his Truth Social parent company shares to a trust in surprise move
President-elect Trump transferred almost all his shares in the parent company of Truth Social to the Donald J. Trump Revocable Trust, according to a Securities and Exchange Commission filing on Thursday.
Trump Media & Technology Group (TMTG) is the parent company of Truth Social, a social media app that positions itself as an alternative to mainstream apps like Instagram and X.
Since its listing, Trump Media has been popular with traders who viewed it as a speculative bet on Trump winning the Nov. 5 election. Trump has maintained up to 57% ownership of the company. In the lead up to the election, his stake was worth almost $4 billion.
STEPHEN COLBERT CALLS ABC 'STUPID' OVER SETTLEMENT WITH TRUMP
TMTG was founded in Feb. 2021 by Trump and Andy Dean Litinsky. The company started trading on the NASDAQ in March 2024.
CREW Vice President for Communications Jordan Libowitz bashed Trump's stock transferal decision, saying that there are still ethical concerns for the president-elect.
"Yes, he put it in a trust, but [he] basically did nothing to assuage any ethical fears," Libowitz told Politico. "This is like a head nod in the direction of ethics without taking an actual ethical step."
TRUMP, MUSK FIRE BACK AFTER DEM LEADER BLAMES HOUSE GOP FOR BREAKING BIPARTISAN AGREEMENT
A spokesperson for the Trump-Vance transition team, Karoline Leavitt, told Politico that Trump "removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary, becoming the first President to actually lose net worth while serving in the White House."
Truth's Social worth soared in the weeks leading up to Election Day. In October, the stock price rose almost 9% to $34.17.
The Trump campaign did not immediately respond to a request for comment from Fox News Digital.
Fox Business' Sarah Rumpf-Whitten contributed to this report.
https://www.foxbusiness.com/media/trump-transfers-almost-4-billion-his-truth-social-parent-company-shares-trust-surprise-moveThe history of candy canes and how the holiday treat turned into a billion-dollar industryCandy canes are a staple of Christmas. Today, they come in a wide array of flavors, but they once were much simpler in their flavor and far less mass produced.
During the Christmas season, the candy cane industry sees an enormous spike in sales.
In 2023, confectionery sales during the holiday season reached close to $7 billion, Carly Schildhaus, director of public affairs and communications at the National Confectioners Association (NCA), told FOX Business in an email, with this number expected to rise up to 3% in 2024.
It comes as no surprise that most candy cane sales happen between the months of November and December, with the most popular selling time the second week of December, according to the NCA website, Always a Treat.
Today, candy cane flavors extend far beyond classic peppermint. There are candy canes based on favored candies, like Nerds, Swedish Fish, Sour Patch, Sweetarts, Lifesavers and others.
You can find even more obscure candy cane flavors today, like chocolate, bacon and even mac and cheese.
Candy canes aren't just eaten, they are also used to decorate Christmas trees.
In fact, half of Americans plan to use candy canes as a decoration for their tree, or use the treat to decorate packages, Schildhaus told FOX Business.
While modern times have brought unique candy cane flavors to adorn Christmas trees, they didn't always come in such a large assortment, and they weren't traditionally used to decorate trees.
The exact origin of the candy cane is slightly murky, though there is a common theory to support the start of the popular holiday treat.
Candy canes, in their most basic form, are thought to date back to 1670, as a way to keep young singers in Germany quiet during church services.
During the time, the choirmaster at the Cologne Cathedral in Germany gave young singers sugar sticks during the Living Cheche ceremony to keep them silent, according to Always a Treat.
25-30M CHRISTMAS TREES ARE CUT DOWN ANNUALLY, DISPLAYED IN HOMES, BUSINESSES ACROSS THE US
"In honor of the shepherds featured in the story, he bent the candies into small shepherds’ crooks," the website notes.
Candy canes first appeared in the United States when August Imgard, a German-Swedish immigrant, decorated a Christmas tree in Wooster, Ohio, with paper ornaments and candy canes in 1847, sparking the tradition around the rest of the country, according to the site.
It wasn't until years later that candy canes began to be widely sold throughout the country.
When candy canes were originally sold, there were no signature red stripes, according to Always a Treat. The stripes didn't emerge until the turn of the 20th century, according to the source.
HAVING A CHRISTMAS GATHERING THIS YEAR? THE FEAST WILL COST MORE THIS YEAR
Prominent candy cane sellers in the early years of the sugary treat included Doscher's Candies and Bobs Candies.
Doscher's Candies, a company started by Claus Doscher in Cincinnati, Ohio, created candy canes in 1871 using peppermint oil, cooking the mixture in copper kettles, plus rolling and kneading by hand, according to the company's website.
Bobs Candies was started around 1920 by Bob McCormack in Georgia, according to the Ferrara Candy Company website, which the brand is manufactured by.
McCormack's brother-in-law, Father Gregory Keller, was responsible for inventing the groundbreaking machine used to twist the candy and bend it into the shape of a cane, according to Georgia Public Broadcasting.
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Today, candy canes are so popular that there is even a day dedicated to the treat. Every year, Dec. 26 marks "National Candy Cane Day."
As far as the "correct" way to consume the sugary treat, the verdict is still out.
Fifty-four percent of people eat their candy canes beginning with the straight end, while 30% eat the curved end first, according to the NCA.
Breaking up a candy cane is another way it can be eaten, with 16% of people going with this approach, according to the organization.
https://www.foxbusiness.com/business-leaders/history-candy-canes-how-holiday-treat-turned-billion-dollar-industryMary Tyler Moore's $16.9 million Greenwich mansion still seeks buyerMary Tyler Moore’s eight-figure home in Greenwich, Connecticut is still looking for a buyer. The asking price for the late actress’s 13,800-square-foot mansion currently stands at $16.9 million.
Mary Tyler Moore’s eight-figure home in Greenwich, Connecticut is still looking for a buyer.
The asking price for the late actress’s 13,800-square-foot mansion currently stands at $16.9 million, its listing with Joseph Barbieri of Sotheby's International Realty showed Friday.
The sprawling Georgian Colonial has sported that eight-figure asking price since the summer, when $2 million was shaved off its price tag, according to Zillow. The real estate site indicated it also underwent a price reduction in April.
Moore’s husband, Dr. Robert Levine, put the property up for sale in September of last year, originally seeking $21.9 million, The Wall Street Journal reported at the time.
WYOMING ‘LITTLE YELLOWSTONE’ RANCH UP FOR SALE FOR $85 MILLION
The mansion, which underwent significant expansion and remodeling under Moore and Levine’s ownership, boasts five bedrooms and seven full bathrooms inside, according to its listing.
The home’s stone front opens up to a living room with Venetian plaster, fireplace and bay window with views of the countryside and a nearby lake. The first floor also has a billiard room/library with built-in bookcases, a beamed ceiling and a marble fireplace. A formal dining room also has a fireplace and a bay window.
Its primary suite spans 2,000 square feet "with dual baths, dressing rooms and generous closets," the listing said.
A large glass conservatory offers plenty of light to those that sit inside it thanks to its large windows. That space has dimensions of 23 feet by 23 feet, per the listing.
Levine described the glass conservatory to The Journal as Moore’s "serenity room" and "special place."
Moore died in 2017 at 80 years old from a cardiopulmonary arrest after she contracted pneumonia. She had a decadeslong battle with diabetes.
The late actress’s mansion’s massive grounds are just as grand as its interior, with Barbieri calling them "beautiful."
$23M WHITE HOUSE REPLICA IN CALIFORNIA SELLS
There is a 65-foot pool in the backyard.
Even the drive to the home is scenic, "following a meandering stream to Oakley Pond," according to the listing. The property also borders five acres of conservation land.
The couple reportedly acquired the property in 2006, paying $10 million, per The Journal.
"It’s Mary’s house, if I’m going to step into my ‘what next?’, I decided I have to step away from the house," Moore’s husband told the outlet last year.
Barbieri told FOX Business he doesn’t see another price reduction in the property’s future.
"We anticipate selling it soon as we have serious interest at this current price," he also said. "Interest rates cuts will be very welcome in the marketplace."
PALATIAL CALIFORNIA BILLIONAIRE-OWNED ESTATE HITS MARKET FOR WHOPPING $108M
An early December report from Realtors.com forecasted mortgage rates will come in at 6.2% by the end of next year. Earlier this week, Freddie Mac pegged the average 30-year fixed mortgage rate at 6.72% as of Dec. 19, FOX Business reported.
In November, homes in Greenwich had median asking prices of $3.7 million, according to Realtor.com.
Gigi Hadid, Bradley Cooper flock to Pennsylvania town turned celebrity haven: expertNew Hope, Pennsylvania, is becoming a new celebrity hot spot due to its "peaceful and private lifestyle," real estate expert says. Gigi Hadid and Bradley Cooper have both bought homes in the tiny town in recent years.
New Hope, Pennsylvania, a quaint town of 2,500 people, is becoming a new celebrity haven as it offers a "peaceful and private lifestyle" away from the hustle and bustle of New York City, according to experts.
Gigi Hadid, Bella Hadid and their mother, Yolanda Hadid, bought a property in the tiny town in 2017, according to Realtor.
The property, which is called Carousel Farm, was purchased for $3.7 million and consists of a 5,0000 square-foot stone house, a barn that can accommodate 16 horses, and an in-ground pool, according to the outlet.
'YELLOWSTONE' FANS FLOCK TO MONTANA TO 'EXPERIENCE UNTAMED AMERICA': EXPERT
The listing of the property describes the home as a "gentleman's estate" where guests can "relax around the pool, go riding on the 32+ acres, or just play your own version of Gatsby."
In April 2020, Bella and Gigi posed for Vogue's March issue on their ranch: "Postcard from Home for Vogue," Gigi captioned her post.
BRADLEY COOPER SAYS HE'S ‘LUCKY’ TO HAVE REMAINED SOBER FOR 19 YEARS
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Gigi's ex-boyfriend and father of her child, Zayn Malik, also owns a home in New Hope.
Earlier this year, Malik spoke to British Vogue about the benefits of owning a property in the Pennsylvania town and said it's a "great place to reflect on your thoughts and think about things without the noise of the world."
He also noted that his home in New Hope gave him the inspiration for his latest album, "Room Under the Stairs."
The current man in Gigi's life, Bradley Cooper, also owns a home in New Hope, just down the street from Carousel Farm, according to the New York Post. The outlet reported that Cooper, who grew up just an hour away in Jenkintown, purchased the home for $6.5 million in December 2023.
Cooper's newly purchased home was built in 1704 and has undergone extensive renovations, per The Post. The home has seven bedrooms, six bathrooms and is 6,300 square feet.
Tabitha Heit, a licensed relator, told Fox Business, "As a real estate agent licensed in both Pennsylvania and New York, I’ve noticed a significant trend of New Yorkers relocating to Pennsylvania.
"There are several reasons for this shift: the slightly milder climate, more affordable living compared to states like New York and New Jersey, and the overall appeal of the area."
Heit told Fox Business that since inventory has been "tight" for years, the recent increase in demand has been driving up home prices.
"I would imagine celebrities are drawn to this area as well as it likely offers them a more peaceful and private lifestyle. New Hope, with its artsy vibe, is a standout town, and its location – just across the river from New Jersey – makes it incredibly accessible," Heit noted.
She added, "Doylestown is another hot spot in Bucks County, offering charm, culture and a vibrant community that continues to attract buyers."
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Carle Robbins, a broker in Pennsylvania and New Jersey, told Fox Business that New Hope and Doylestown are where celebrities like to dine.
"But the celebs live in the surrounding townships: Solebury, Upper Makefield, Plumstead, Tinicum," Robbins added.
According to Realtor, the median home price in New Hope is $1.3 million. The outlet also noted that New Hope is in the middle of New York and Philadelphia, which makes it an attractive location for commuters.
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The outlet reported that stars like Leonardo DiCaprio, Justin Bieber and Tina Fey have all been seen in New Hope in recent years.
https://www.foxbusiness.com/entertainment/gigi-hadid-bradley-cooper-flock-pennsylvania-town-turned-celebrity-haven-expertNationwide Amazon strike expands to Staten Island warehouse workers: 'Will not be stopped'Workers at an Amazon warehouse on Staten Island in New York will join thousands of others as the strike against the retail giant continues.
Amazon workers at a warehouse on Staten Island in New York will join thousands of disgruntled workers as the strike against the retail giant entered its second day Friday.
The Teamsters said in a release "momentum continues to mount" as workers seek "fair treatment" from the online retailer.
"The Amazon Teamsters movement grows bigger and stronger every day and will not be stopped," the International Brotherhood of Teamsters said in a statement posted on social media.
TEAMSTERS UNION LAUNCHES HISTORIC NATIONWIDE STRIKE AGAINST AMAZON: ‘PAYING THE PRICE’
The JFK8 warehouse in Staten Island joined thousands of Amazon workers to protest the corporation's refusal to "bargain with its workers who have chosen to unionize with the Teamsters."
The strike came after the Teamsters said Amazon ignored the union's Dec. 15 deadline to negotiate new contracts for higher wages, better benefits and safer working conditions.
Teamsters General President Sean M. O’Brien encouraged the latest warehouse to join the strike, saying it takes "courage" to stand up against big corporations.
"Amazon executives are cowards hiding behind lies, threats and intimidation to dodge their responsibilities to workers and the public," he said. "It takes real courage to stand up to a corporate bully, and Amazon Teamsters are doing just that."
The Staten Island workers joined thousands of other workers from seven sites in Skokie, Illinois; New York City; Atlanta; San Francisco; and Southern California.
Though the Teamsters say the union represents about 10,000 workers at 10 Amazon locations in the U.S., the company doesn't recognize workers' affiliation with the union.
Amazon says the Teamsters are "intentionally [misleading] the public" because they don't represent Amazon employees and drivers, company spokesperson Kelly Nantel said in a previous statement to Fox Business.
AMAZON WORKERS PLAN TO STRIKE BETWEEN BLACK FRIDAY AND CYBER MONDAY
"For more than a year now, the Teamsters have continued to intentionally mislead the public, claiming that they represent ‘thousands of Amazon employees and drivers.' They don’t, and this is another attempt to push a false narrative," Nantel said. "The truth is that the Teamsters have actively threatened, intimidated and attempted to coerce Amazon employees and third-party drivers to join them, which is illegal and is the subject of multiple pending unfair labor practice charges against the union."
Nantel also said the company "does not expect any impact on our operations."
Teamsters spokesperson Kara Deniz responded to Amazon's statement, saying the company is "gaslighting the American public with their false narratives."
"The truth is, over 20 bargaining units representing nearly 9,000 employees have successfully organized because for many years the company has exploited and abused workers, and these workers are fed up and fighting back," Deniz said.
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"No matter how massive Amazon’s corporate PR machine is, they cannot fool the American public into believing drivers delivering Amazon packages in Amazon-branded vans don’t actually work for Amazon," Deniz added. "No one believes this nonsense. Amazon needs to stop avoiding their legal obligation to these workers and get to the bargaining table now."
FOX Business' Pilar Arias and Fox News Digital's Elizabeth Pritchett contributed to this report.
https://www.foxbusiness.com/economy/nationwide-amazon-strike-expands-staten-island-warehouse-workers-will-not-stoppedLARRY KUDLOW: Congressional spending drama is a lesson for the GOP to 'simplify, simplify, simplify'FOX Business host Larry Kudlow offers his analysis to the GOP on "Kudlow" as lawmakers continue to battle over a spending bill to avoid a government shutdown.
A lesson for the GOP: Simplify, simplify, simplify — and that's the subject of the riff.
The most important thing I've seen from all this year-end congressional spending drama and the difficulty in getting agreement — is what this tells us about the difficulty of more than one reconciliation bill next year.
So far, the House has struck out twice in getting a deal to avoid a government shutdown.
And avoiding a government shutdown is desirable — not in economic terms, but in political terms, it could conceivably give Sen. Chuck Schumer added power through the certification of the presidential election on Jan. 6, and even the inauguration on Jan. 20.
Schumer Democrats are diabolical, and you never know what will happen if you leave them in charge — even if for a couple more weeks.
Now, a third continuing resolution deal has been struck by House Republicans, and awaits President Trump's approval.
KEVIN O'LEARY REVEALS GOVERNMENT SHUTDOWN SOLUTION TO CONGRESS' ‘CLASSIC, BAD CHRISTMAS MOVIE’
It will look a lot like the short-term deal that was defeated last night. It would postpone the debt ceiling until March 14, and allegedly would cut roughly $2.5 trillion in federal spending over the course of reconciliation bills yet to be determined next year.
But as anyone can plainly see, this relatively simple exercise of extending funding for a couple weeks, has been very difficult, very contentious and very unpredictable.
And I believe it is a leading indicator of the potential problems the GOP may encounter next year if they continue to casually believe they can actually pass multiple reconciliation bills in 2025. They must be kidding themselves.
Recent polling by McLaughlin & Associates shows that nearly half of all voters think we are in a recession, and more than four-fifths continue to worry about inflation.
Thirty-five percent of voters say it's most important for Trump to secure the border — and right behind, 26% say continuing growth by making the Trump tax cuts permanent. The overall economy is still the #1 issue, way beating out the border.
And Trump Tax Cuts 2.0 are wildly popular — with 82% favoring an end to federal taxes on Social Security income, 71% favor ending federal taxes on tips for service workers, 64% favor ending federal taxes on overtime pay for workers, and 70% favor making the 2017 Trump tax cuts permanent.
Right now, Mr. Trump and his transition team are very popular. His approval rating is well above 50%. He is enjoying a nearly unprecedented post-election honeymoon.
But turning back to legislative strategy that will be so crucial, Mr. Trump's policy mandate from the election — and I think Republicans who think it will be easy to pass several reconciliation bills are badly mistaken.
Parliamentary confusion inside Republican ranks in just the last couple of days, centered on what should be a relatively simple exercise, is a major red flag warning of making things overly complicated next year.
Delaying the tax cuts would be a big mistake. Delaying the tax cuts will not put extra money in the hands of working folks. Delaying the tax cuts will not fatten blue-collar wallets. Those are the folks who voted for Mr. Trump in the battleground states and gave him his landslide.
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The GOP has winning issues — such as closing the border; cutting taxes; and drill, baby, drill; and cutting back on the regulatory state. Bundle them all up, and get it done as soon as possible.
And be realistic about the nearly impossible problems that several massive reconciliation bills will create.
A source close to President Trump says he wants one big, beautiful bill. As usual, he is right.
This article is adapted from Larry Kudlow’s opening commentary on the Dec. 20, 2024, edition of "Kudlow."
https://www.foxbusiness.com/media/larry-kudlow-congressional-spending-drama-lesson-gop-simplify-simplify-simplifyStocks swing, Trump lands Softbank and Social Security’s big changeThe Fed, inflation data, a bold move by Starbucks and more moves from President-elect Trump kept investors on their toes this week. FOX Business takes a look at the week's top stories.
-Stocks wrap up a volatile week ahead of the Christmas holiday
-The Federal Reserve delivers ho-hum holiday rate cut
-President-elect lands big whale of an investment for the U.S.
-Crypto elite plow big bucks into Trump's inauguration
-UnitedHealthcare CEO killer Luigi Mangione extradited to New York City
-Teamsters target Amazon with strike in seven states
-Starbucks CEO, four months into his job, makes bold move for employees
-To get Social Security's full benefits you'll be working longer
-Party retailer calls it quits
-Fox Business' beloved Neil Cavuto signs off
STOCKS SWING: Stocks closed higher on Friday but still registered a drop of more than 1% for the week…more on the markets here. Inflation remains sticky, even as the Fed's preferred measure came in below expectations…continue reading here.
FED DIALS IT BACK: Policymakers did not disappoint with a 25-point basis rate cut this week, but they did signal a different tone for 2025, sending the Dow down more than 1,000 points last Wednesday before rebounding by week's end…continue reading here.
VIDEO: Dissecting the mood of the Fed in the coming new year.
TRUMP LANDS WHALE: Softbank's CEO will commit $100 billion to invest in the U.S., the President-elect's first big CEO score…continue reading here.
VIDEO: Softbank CEO joins Trump to talk about his big money investment.
TRUMP INAUGURATION CASH COW: Trump's inauguration fund has swelled to $200 million with big money donations coming from tech titans and the crypto elite…continue reading here.
LIVE cryptocurrency prices here.
KILLER CHARGED: Luigi Mangione, charged with executing UnitedHealthcare CEO Brian Thompson, was extradited to New York and is facing even more charges…continue reading here.
VIDEO: Mangione's prep walk like no other.
PERSONAL FINANCE TIPS & TRICKS
GRINCHLIKE?: The Teamsters flexed their muscle against Amazon, striking at seven locations in the U.S. amid holiday shipping crunch time…continue reading here.
VIDEO: Teamsters President Sean O'Brien explains the Christmastime strike.
STARBUCKS REWARD: CEO Brian Niccol, just four months on the job, approved a new perk for workers after getting an email from an employee…continue reading here.
VIDEO: Starbucks CEO Brian Niccol's details bold move.
READ MORE STARBUCKS NEWS: HERE
PARTY POOPER: After 40 years, Party City is calling it quits…continue reading here.
PREPARE TO KEEP WORKING: The age at which one can receive full Social Security benefits is getting pushed back. Here's what to know…continue reading here.
THANK YOU: After nearly three decades as one of Fox's most trusted and respected anchors, Neil Cavuto signed off…FAREWELL
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https://www.foxbusiness.com/markets/stocks-swing-trump-lands-softbank-social-securitys-big-changeGroup behind viral 'Hawk Tuah' star's meme coin hit with lawsuit over crashThe group behind the meme coin $HAWK, named after Haliey Welch, aka the "Hawk Tuah Girl," was hit with a lawsuit following the token's crash of 95% from a $490M market cap in minutes.
The group behind the meme coin named after viral "Hawk Tuah Girl" Hailey Welch has been hit with a lawsuit from investors after the $HAWK coin crashed within hours of its launch.
The complaint filed in New York on Thursday accuses Tuah The Moon Foundation; overHere Ltd and founder Clinton So; and influencer Alex Larson Schulz, known as "Doc Hollywood," of illegally selling and promoting the coin, which was allegedly not a registered security, according to The New York Post.
BITCOIN HITS $100,000 FOR THE FIRST TIME EVER
Welch was not named in the suit, and she addressed the situation on social media on Friday.
"I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community," she wrote on X. "I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter."
SEC COMMISSIONER BACKS TRUMP'S PLAN TO END CRYPTO CRACKDOWN
Welch directed anyone who sustained losses from the $HAWK coin to contact the Burwick Law firm.
$HAWK was launched on Dec. 5, and Welch promoted it to her social media following. The meme coin quickly surged to a market cap of $490 million, before plummeting to just $41.7 million in valuation within a matter of hours.
Welch told Fortune at the time that Hawk was not meant to be a "cash grab."
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The 22-year-old overnight celebrity said that while she used to view cryptocurrency as a scam, she changed her mind because it’s a "fun way to get my fans to interact."
FOX Sports' Scott Thompson contributed to this report.
https://www.foxbusiness.com/markets/group-behind-viral-hawk-tuah-stars-meme-coin-hit-lawsuit-over-crashParty City going out of business after 40 yearsParty supplies retailer Party City is permanently shutting down, CNN reported Friday. Its retail footprint in North America spans over 700 company-owned and franchised stores.
Party City is permanently shutting down.
CEO Barry Litwin said it was "necessary to commence a wind down process immediately" for the party supplies retailer, CNN reported Friday, citing comments from a Party City conference call with its corporate workers.
While speaking Friday with Party City staff, Litwin reportedly said Party City’s "very best efforts have not been enough to overcome" the issues it has been facing and that the company has "done everything possible that we could to try to avoid this outcome."
Party City corporate employees will lose their jobs after Friday, according to the outlet. The company is reportedly eyeing widespread store closures at the beginning of February.
BIG LOTS TO START HOLDING 'GOING OUT OF BUSINESS' SALES AT REMAINING LOCATIONS
Party City’s retail footprint in North America included over 700 company-owned and franchised stores as of late October, according to a press release published that month.
Difficulties from inflation, debt and other factors reportedly hurt the company. FOX Business reached out to Party City for comment on its reported plans to permanently close.
This reportedly comes nearly four decades after the company launched and about 14 months after it exited bankruptcy.
AMERICAN FREIGHT CLOSING ALL STORES AMID PARENT COMPANY'S BANKRUPTCY FILING
When Party City completed its Chapter 11 bankruptcy process last year, it said it had "substantially strengthened its capital structure by eliminating nearly $1 billion in debt, enhanced its liquidity, and optimized its Party City store portfolio by having negotiated improved lease terms and exited less productive stores."
It converted that debt to equity shares that would be owned by its lenders.
CLICK HERE TO READ MORE ON FOX BUSINESS
Party City was removed from the New York Stock Exchange in January 2023 due to the bankruptcy process. Prior to that, it had traded on the exchange for about eight years.
Speculation about the retailer weighing whether to file for bankruptcy again surfaced last week.
While all corporate-owned stores are shutting down, a few dozen independently-owned Party City locations will remain in operation.
"Local Party City franchisees are not affected by the bankruptcy," Mitesh Patel, a franchisee from the Austin, Texas, area told FOX Business. "There are a total of 29 franchise stores who will have their stores open and ready to continue serving their local communities."
Breck Dumas contributed to this report.
https://www.foxbusiness.com/retail/party-city-going-out-business-after-40-yearsParty City going out of business after 40 yearsParty supplies retailer Party City is permanently shutting down, CNN reported Friday. Its retail footprint in North America spans over 700 company-owned and franchised stores.
Party City is permanently shutting down.
CEO Barry Litwin said it was "necessary to commence a wind down process immediately" for the party supplies retailer, CNN reported Friday, citing comments from a Party City conference call with its corporate workers.
While speaking Friday with Party City staff, Litwin reportedly said Party City’s "very best efforts have not been enough to overcome" the issues it has been facing and that the company has "done everything possible that we could to try to avoid this outcome."
Party City corporate employees will lose their jobs after Friday, according to the outlet. The company is reportedly eyeing widespread store closures at the beginning of February.
BIG LOTS TO START HOLDING 'GOING OUT OF BUSINESS' SALES AT REMAINING LOCATIONS
Party City’s retail footprint in North America included over 700 company-owned and franchised stores as of late October, according to a press release published that month.
Difficulties from inflation, debt and other factors reportedly hurt the company. FOX Business reached out to Party City for comment on its reported plans to permanently close.
This reportedly comes nearly four decades after the company launched and about 14 months after it exited bankruptcy.
AMERICAN FREIGHT CLOSING ALL STORES AMID PARENT COMPANY'S BANKRUPTCY FILING
When Party City completed its Chapter 11 bankruptcy process last year, it said it had "substantially strengthened its capital structure by eliminating nearly $1 billion in debt, enhanced its liquidity, and optimized its Party City store portfolio by having negotiated improved lease terms and exited less productive stores."
It converted that debt to equity shares that would be owned by its lenders.
CLICK HERE TO READ MORE ON FOX BUSINESS
Party City was removed from the New York Stock Exchange in January 2023 due to the bankruptcy process. Prior to that, it had traded on the exchange for about eight years.
Speculation about the retailer weighing whether to file for bankruptcy again surfaced last week.
While all corporate-owned stores are shutting down, a few dozen independently-owned Party City locations will remain in operation.
"Local Party City franchisees are not affected by the bankruptcy," Mitesh Patel, a franchisee from the Austin, Texas, area told FOX Business. "There are a total of 29 franchise stores who will have their stores open and ready to continue serving their local communities."
Breck Dumas contributed to this report.
https://www.foxbusiness.com/retail/party-city-going-out-business-after-40-yearsFDA approves Eli Lilly's weight loss drug Zepbound for sleep apnea, expanding use in U.S.The agency's decision expands the use of Zepbound and could potentially pave the way for Eli Lilly to gain broader insurance coverage for the treatment.[Collection]
Party City going out of business after 40 yearsParty supplies retailer Party City is permanently shutting down, CNN reported Friday. Its retail footprint in North America spans over 700 company-owned and franchised stores.
Party City is permanently shutting down.
CEO Barry Litwin said it was "necessary to commence a wind down process immediately" for the party supplies retailer, CNN reported Friday, citing comments from a Party City conference call with its corporate workers.
While speaking Friday with Party City staff, Litwin reportedly said Party City’s "very best efforts have not been enough to overcome" the issues it has been facing and that the company has "done everything possible that we could to try to avoid this outcome."
Party City corporate employees will lose their jobs after Friday, according to the outlet. The company is reportedly eyeing widespread store closures at the beginning of February.
BIG LOTS TO START HOLDING 'GOING OUT OF BUSINESS' SALES AT REMAINING LOCATIONS
Party City’s retail footprint in North America included over 700 company-owned and franchised stores as of late October, according to a press release published that month.
Difficulties from inflation, debt and other factors reportedly hurt the company. FOX Business reached out to Party City for comment on its reported plans to permanently close.
This reportedly comes nearly four decades after the company launched and about 14 months after it exited bankruptcy.
AMERICAN FREIGHT CLOSING ALL STORES AMID PARENT COMPANY'S BANKRUPTCY FILING
When Party City completed its Chapter 11 bankruptcy process last year, it said it had "substantially strengthened its capital structure by eliminating nearly $1 billion in debt, enhanced its liquidity, and optimized its Party City store portfolio by having negotiated improved lease terms and exited less productive stores."
It converted that debt to equity shares that would be owned by its lenders.
CLICK HERE TO READ MORE ON FOX BUSINESS
Party City was removed from the New York Stock Exchange in January 2023 due to the bankruptcy process. Prior to that, it had traded on the exchange for about eight years.
Speculation about the retailer weighing whether to file for bankruptcy again surfaced last week.
While all corporate-owned stores are shutting down, a few dozen independently-owned Party City locations will remain in operation.
"Local Party City franchisees are not affected by the bankruptcy," Mitesh Patel, a franchisee from the Austin, Texas, area told FOX Business. "There are a total of 29 franchise stores who will have their stores open and ready to continue serving their local communities."
Breck Dumas contributed to this report.
https://www.foxbusiness.com/retail/party-city-going-out-business-after-40-years