Logistics giants are racing to keep up with healthcare boom as GLP-1s highlight need for cold storageShipping and logistics companies are tapping into the growing market of healthcare as cold chain and temperature-controlled facilities become more crucial.{}
Brooklyn Roasting Company recalls cold brew sold in New York and New Jersey over botulism riskBrooklyn Roasting Company recalled 2.5 gallon bags of cold brew concentrate over Clostridium botulinum toxin risk in New York and New Jersey.
A New York-based coffee company is recalling some of its cold brew drinks sold in New York and New Jersey because of a risk of botulism, according to the U.S. Food and Drug Administration.
The Brooklyn Roasting Company issued the recall this month for 2.5 gallon bags of pasteurized cold brew concentrate after finding that room temperature storage could lead to the growth of Clostridium botulinum toxin formation.
The affected products were distributed between April 1 and June 20, and they include best by dates between June 3 and Sept. 30.
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Botulism is a rare condition caused by a toxin that attacks the body’s nerves, which can be fatal.
Symptoms of foodborne botulism usually start 12 to 36 hours later and include trouble swallowing, dry mouth, blurred vision, drooping eyelids, upset stomach, trouble breathing and paralysis.
Anyone experiencing botulism symptoms is urged to go to the emergency room immediately.
SCIENTISTS USED ELECTRICITY ON COFFEE AND DISCOVERED WHAT MAKES IT TASTE GOOD
There have been no reports of illnesses caused by the cold brew products.
The Brooklyn Roasting Company sells its products at its cafés, other coffee shops, gourmet grocery stores, independent markets and online, according to The Patch.
The company didn’t specify where the affected cold brew had been distributed.
The Brooklyn Roasting Company did not immediately respond to FOX Business' request for comment.
https://www.foxbusiness.com/retail/brooklyn-roasting-company-recalls-cold-brew-sold-new-york-new-jersey-over-botulism-riskAI innovation is outpacing governance, leaving companies exposed, EqualAI warnsAfter OpenAI's AI models escaped containment and hacked Hugging Face, experts say companies urgently need stronger AI governance frameworks.
The artificial intelligence (AI) race is intensifying as developers push for increasingly capable AI tools and companies race to deploy AI tools to take advantage of its efficiency gains and reap financial benefits – but a new report warns companies lack sufficient governance for AI tools.
This week saw a high-profile incident involving AI, in which an internal test of AI models by ChatGPT-maker OpenAI resulted in the models exploiting a software flaw, escaping containment and hacking into Hugging Face, which operates a platform for developers to collaborate on code for AI models, to cheat on a cybersecurity evaluation.
While the two companies contained the incident, it demonstrated the rapidly growing capabilities of AI models to go beyond their guardrails and pose cybersecurity threats, with leaders from both companies noting the significance of what occurred.
EqualAI CEO Miriam Vogel, whose organization released a white paper on AI governance and deployment this week, told FOX Business, "Innovation is going at an unprecedented pace; the problem is governance is not matching that pace."
"What we want to make sure people recognize from this incident is, across the board, we need to have stronger expectations in place if we're going to start to build trust and ensure these systems deserve our trust," she said.
OPENAI CO-FOUNDER WARNS AI MODELS ARE BECOMING HARDER TO CONTROL AFTER ITS MODEL HACKED ANOTHER FIRM
Vogel noted that most consumers' touchpoints with AI are through companies that have deployed some sort of AI solution. She added that the World Economic Forum found fewer than 1% of companies have strong governance in place for AI systems, while McKinsey found last year that fewer than a third of companies have any AI governance in place.
"I think too many people are assuming it's someone else's problem, you know, that it's the developer's problem or just not understanding that this is their problem," she said.
"While this is, in this instance, an issue for a development company, a lot of where this is playing out and will continue to play out is with the deployer – is with the healthcare, finance, social media, infrastructure – all the other ways [companies are] using agentic AI," Vogel said.
She said that courts are increasingly applying liability to companies that have deployed agentic AI for work with customers or businesses, rather than the company that developed the underlying AI model or tool.
"A lot of this becomes the liability of the person who had the last touch on it, whose data is involved, whose customer is involved. They are often the one who owns the liability," Vogel added.
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"While good governance takes a while to really put in a solid foundation, the best practices are really aligned with the leading organizations who care about this work across the world. They've all come to this independently, and there is really a lot of consensus on what the best practices are," Vogel said.
"The other thing that's good news is most of this is not rocket science, it's leadership and good governance just applied to AI," Vogel said.
EqualAI sees five main areas for companies to take into account when establishing governance around agentic AI. Those include having visibility into what AI tools are being used across organizations, as leaders may not understand their firm's AI footprint and what opportunities or risks that may present; as well as accountability across leadership levels and divisions of a company.
Operationalizing AI principles is another component – which Vogel said entails bringing principles laid out in documents like a PDF into practice in terms of things like communicating about problems that arise, and is dependent on internal trust that there is shared accountability in the organization.
Another aspect of AI governance is ensuring there are feedback loops that can be leveraged on a recurring basis as AI tools and models iterate and improve to stay ahead of issues like model drift. This can take the form of having a plan and cadence for routine testing.
AI literacy is the fifth pillar of the overarching AI governance framework Vogel suggested, which she linked to "increasing distrust of AI" and sees contributing to fears overshadowing enthusiasm about AI tools in the public's perception.
"I think that squarely lands not only on the overall governance infrastructure that's lacking in most organizations, but this fundamental piece of AI governance which is AI literacy," Vogel explained. "Most people don't know that they're using AI, they don't want to use AI, don't know how to use it."
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"AI literacy is just a key variable in making sure people understand how to use it, that they know how to avoid risks because they don't want to cause harm or bring a liability for themselves or their organization," she said. "Making sure that your workforce and your consumers understand how you're using AI, how you will not be using AI, and how it can benefit them is a key variable."
https://www.foxbusiness.com/technology/ai-innovation-outpacing-governance-leaving-companies-exposed-equalai-warnsParamount agrees to delay Warner Bros Discovery merger until 2027 as lawsuit to block it goes through courtParamount's $111 billion merger with Warner Bros. Discovery is being delayed until next year in order for the antitrust lawsuit attempting to block the deal to play out in court.
Paramount agreed to delay its pending Warner Bros. Discovery merger until next year in order for the lawsuit brought by several state attorneys general to play out in court, according to a Friday filing.
The merger was put on hold earlier this week after a judge granted a temporary restraining order that initially put a 14-day pause on the multibillion-dollar deal with the lawsuit led by California Attorney General Rob Bonta pending.
"Today’s agreement is a significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence," a spokesperson for Paramount said in a statement to Fox News Digital. "This is the fastest and clearest way to prove that this transaction is good for competition, good for consumers, and good for creators, a conclusion dozens of competition authorities around the world have already reached."
"Plaintiffs' market definitions bear no relationship to the realities of today's marketplace and cannot withstand scrutiny. We look forward to proving our case at trial," the spokesperson added.
PARAMOUNT-WBD MERGER ON HOLD AFTER JUDGE GRANTS TEMPORARY RESTRAINING ORDER
"Our argument against this illegal merger is straightforward: When too few corporations have too much power in markets central to American life, it makes things more expensive, and it makes things worse," Bonta told Fox News Digital. "Today’s agreement is great news for audiences, movie theaters, and the many people who write, build, and create the art, news, and entertainment so many of us enjoy. We are eager to continue to make our case in court and celebrate another tremendous win in our effort to ensure this unlawful merger never sees the light of day.
Paramount CEO David Ellison is seeking to acquire WBD in a $111 billion deal that was expected to close during the third quarter of this year, but Bonta is leading a group of 12 state attorneys general who filed a lawsuit challenging the merger. The lawsuit claims the megadeal would "lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S."
The lawsuit, filed in the U.S. District for the Northern District of California, claims that the merger violates Section 7 of the Clayton Act, which holds that mergers that may substantially lessen competition or tend to create a monopoly are illegal. Both sides argued their case last week but Judge Araceli Martínez-Olguín waited until Monday to temporarily delay the merger.
The merger, which was set to close this year, is now being delayed until at least June 2027.
Paramount's bid to buy Warner Bros. Discovery would be a historic deal merging two major Hollywood studios under one corporate umbrella as well as all of their television networks, including CBS and CNN. Critics of the deal believe such a merger would crush the entertainment industry and lead to mass layoffs — some have also been vocal against Ellison and his billionaire father Larry Ellison, who is heavily financing the deal and a close ally to President Donald Trump.
Liberal critics in particular also claim that, as a result of the deal, CNN would be given a MAGA-bent to its coverage and it would be run by current CBS News editor-in-chief Bari Weiss, who has been harshly criticized by some media liberals. The Paramount CEO has previously assured that CNN would maintain editorial independence following the merger.
This deal would follow Ellison's $8 billion purchase of Paramount, merging the studio with Skydance Media.
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Fox News' Brian Flood contributed to this report.
https://www.foxbusiness.com/media/paramount-agrees-delay-warner-bros-discovery-merger-until-2027-lawsuit-block-goes-through-courtNvidia, Microsoft urge US to avoid broad restrictions on open AI modelsNvidia, Microsoft and Meta joined more than 20 technology companies in urging U.S. policymakers to avoid broad restrictions on open-weight AI models
Nvidia, Microsoft, Meta and more than 20 other technology companies are urging U.S. policymakers not to broadly restrict open-weight artificial intelligence (AI) models, saying the technology is critical to maintaining America's leadership in the global AI race.
In a joint letter released Friday, the companies argued that open AI models accelerate innovation, strengthen cybersecurity and help ensure the U.S. remains competitive as countries race to develop increasingly powerful AI systems.
"Our AI leadership will be judged not by one frontier AI model, but by whether the United States builds a strong, open ecosystem that diffuses into every sector," the signatories wrote.
The industry's public appeal comes as the Trump administration weighs its approach to open-AI models after senior officials raised concerns about Chinese AI developer Moonshot AI and its open-weight Kimi K3 model.
On Wednesday, White House Office of Science and Technology Policy Director Michael Kratsios accused Moonshot of developing Kimi K3 by distilling Anthropic's Fable 5 model. Distillation, a technique that trains a smaller AI model using the outputs of a more advanced one, has become a flashpoint in the race to develop cutting-edge artificial intelligence.
Treasury Secretary Scott Bessent also suggested this week that the United States could sanction companies found to have improperly used distillation to appropriate intellectual property.
While defending open AI development, the coalition acknowledged that companies found to have illegally extracted value from proprietary models should face consequences.
"Unlawful efforts to extract value from closed models raise legitimate concerns," the letter states. "Those concerns should be addressed through targeted legal and commercial frameworks rather than sweeping restrictions on techniques that play an important role in AI innovation."
OPENAI CO-FOUNDER WARNS AI MODELS ARE BECOMING HARDER TO CONTROL AFTER ITS MODEL HACKED ANOTHER FIRM
Open-weight AI models allow developers to download and customize a model's underlying parameters, making them more accessible than proprietary systems maintained by companies that keep their models closed.
Nvidia CEO Jensen Huang amplified the effort Friday in his first-ever post on X.
"For my first post, I'm sharing a letter @NVIDIA signed on why open models matter," Huang wrote.
"AI will transform every industry, power every company, and be built by every country."
"Open models strengthen safety and cybersecurity, accelerate innovation and diffusion, and enable sovereignty."
The letter was signed by Nvidia, Microsoft, Meta, Dell Technologies, IBM, Palantir, Hugging Face, Mozilla, Mistral, Andreessen Horowitz, Y Combinator and other technology companies, startups and organizations.
Notably absent were OpenAI and Anthropic, two of the leading developers of proprietary frontier AI models. Google and Elon Musk's xAI also did not sign the statement.
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The industry's coordinated push highlights a growing divide over how policymakers should balance national security and intellectual property concerns with efforts to keep the U.S. competitive in artificial intelligence as China ramps up investment in advanced AI systems.
Nvidia, Anthropic and the White House Office of Science and Technology Policy did not immediately respond to FOX Business' requests for comment.
https://www.foxbusiness.com/technology/nvidia-microsoft-urge-us-avoid-broad-restrictions-open-ai-modelsOne type of Social Security adjustment could cut the 75-year shortfall in halfA flat-rate COLA proposal could close 50% of Social Security's 75-year fiscal shortfall, but the cost of waiting since 1987 has been enormous.
Social Security's looming insolvency in under a decade could be delayed by a change to how the annual cost-of-living adjustment (COLA) is calculated, with a new analysis finding that it could cut the entitlement program's 75-year fiscal shortfall in half.
The nonpartisan Committee for a Responsible Federal Budget (CRFB) proposed a COLA cap that would limit the dollar amount of the annual increase in Social Security benefits received by those with higher benefit amounts. That proposal was similar to a flat-rate COLA proposed by one of the think tank's co-chairs, former Rep. Tim Penny, when he was in Congress in 1987.
The flat-rate COLA would pay all Social Security beneficiaries the same COLA, which would be set at the COLA received by a beneficiary at the 20th percentile of the benefit range – a move that effectively combined a COLA cap with a COLA floor at that level.
CRFB asked the Urban Institute's Karen Smith to estimate how a flat-rate COLA set at the 20th percentile and 30th percentile beneficiary would impact Social Security's solvency and benefits. The analysis found that a flat-rate COLA at the 20th percentile would close 50% of Social Security's 75-year shortfall compared to her baseline, while at the 30th percentile it would close about 40%.
SOCIAL SECURITY RECIPIENTS COULD SEE BIGGER COST-OF-LIVING ADJUSTMENT IN 2027, NEW FORECAST SAYS
The flat-rate COLA would be relatively progressive – slowing the growth in benefits the most for those with the highest lifetime earnings and with the most income in retirement.
If set at the 20th percentile, the bottom fifth of lifetime earners would see benefits decline by just 3% in 2065, compared with 19% for the top fifth of earners. For a flat-rate COLA at the 30th percentile, it would boost the bottom quintile's benefit by 1% while the top fifth would see benefits decline 17%.
Both a 20th or 30th percentile flat-rate COLA would boost Social Security benefits for the lowest quintile by 13% to 14%.
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A flat-rate COLA at the 20th percentile would delay the insolvency of Social Security's main trust funds by two years – though CRFB noted that if it were combined with other policies, such as its employer compensation tax proposal, it could keep the merged trust funds solvent for 75 years close to it.
Looking back, if Congress had adopted a flat-rate COLA back in 1987 when it was proposed by Penny, CRFB's estimates suggest it would have achieved 75-year solvency at the time, delaying insolvency to 2071.
It also would've covered about three-quarters of the solvency gap through 2100, giving policymakers time to make other gradual reforms to Social Security to address the remaining gap.
NEW BIPARTISAN PLAN SEEKS TO PREVENT SOCIAL SECURITY BENEFIT CUTS BEFORE TRUST FUND DEPLETION
The most recent estimates put the insolvency of Social Security in 2032, when benefits would be subject to an automatic cut of 22% to match incoming tax revenue after trust funds are tapped out. That would amount to a $16,900 cut in annual benefits for a medium-income, dual-earning couple starting in 2033.
The fast-approaching insolvency of the trust funds and the implications for American retirees should compel policymakers to pursue reforms to shore up the program's finances as soon as possible, CRFB argued.
"One of the biggest takeaways of this particular solution is that it is a stark reminder of the real cost of waiting to save Social Security," CRFB president Maya MacGuineas told FOX Business.
"Adopting a flat-rate COLA back when Congressman Penny proposed the idea would have achieved solvency through 2071, nearly half a century from now, and would have done so by protecting lower-income beneficiaries and reducing old-age poverty; now, that same plan would only delay insolvency another two years," she explained.
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"The good news is there are plenty of options out there that, when combined, can save Social Security from abrupt across-the-board cuts in just six years. But taking options off the table and waiting until the last minute leaves fewer and fewer ways to make the math work," MacGuineas added.
https://www.foxbusiness.com/politics/one-type-social-security-adjustment-could-cut-75-year-shortfall-halfTech billionaire ordered to pay $645M to ex-wife in South Korea's ‘divorce of the century’A South Korean court ordered SK Group Chairman Chey Tae-won to pay his former wife more than $640 million in the country’s largest divorce asset award.
A South Korean court ordered billionaire SK Group Chairman Chey Tae-won to pay his former wife more than $640 million in a divorce settlement that could force him to sell assets, borrow money or pledge shares as collateral.
The Seoul High Court ruled Friday that Chey must pay Roh Soh-yeong 944 billion won (about $645 million), marking the largest divorce asset award in South Korean history. It's been dubbed the so-called "divorce of the century."
The payout is substantially lower than the 1.38 trillion (about $935 million) won awarded by an appeals court in 2024, but the revised judgment has renewed investor scrutiny of Chey’s holdings and how he could finance the payment.
Analysts said Chey may need to sell assets or borrow against his shares, though they do not expect the award to threaten his control of SK Group.
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Chey owns a 17.9% stake in SK Inc., the conglomerate’s holding company, and has an estimated fortune of $5.4 billion, according to Forbes.
The court ordered Chey to make the payment in cash rather than transfer stock, citing the importance of his shares to maintaining control of the conglomerate.
Shares of SK Inc. closed 3.8% lower Friday, while SK Hynix fell 8.3% in Seoul trading following the ruling.
SK Group’s profile has risen sharply during the artificial intelligence boom through SK Hynix, a major supplier of high-bandwidth memory chips used with Nvidia’s AI processors.
Judges awarded Roh one-third of the couple’s marital property after finding that she contributed to preserving and increasing the family’s wealth during the marriage.
The ruling followed a South Korean Supreme Court decision rejecting claims that alleged financial support from Roh’s father, former President Roh Tae-woo, should be included in the asset calculation.
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Either side may appeal the ruling, potentially sending the property-division dispute back to the Supreme Court.
Reuters contributed to this report.
https://www.foxbusiness.com/lifestyle/tech-billionaire-ordered-pay-645m-ex-wife-south-koreas-divorce-centuryMagnificent 7 stocks shed hundreds of billions amid AI spending fearsMagnificent Seven stocks lost $787 billion in a single day as Alphabet and Tesla earnings revealed massive AI infrastructure capex that spooked investors.
Shares in the Magnificent 7 tech stocks have slumped this week amid investors' concerns about massive spending by hyperscalers on artificial intelligence infrastructure amid uncertainty about the global economy due to the resumption of hostilities in the Iran war.
The so-called Magnificent Seven tech stocks experienced their biggest one-day drop in over a year on Thursday, with Bloomberg reporting that an index of the group fell 4.8% and erased about $787 billion in market value – the steepest single day decline since April 2025.
The report noted that as of Thursday's close, the Mag Seven index was down about 11% from the record high it reached in late May, with about $2 trillion in market cap wiped out.
As of Friday morning, six of the Mag Seven stocks were down over the last five days of trading, with Tesla down over 19%, while shares in Google parent Alphabet (-8.5%), Amazon (-6.3%), Meta (-6%), Microsoft (-1.3%) and Apple (-0.4%) were also down. By contrast, Nvidia shares are up about 1.9% in the last five days.
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Tech stocks' slide steepened after Alphabet and Tesla released their earnings report after Wednesday's trading session, with both companies reporting large capital expenditures this year.
Alphabet announced plans to spend about $200 billion on capex this year, up from a prior estimate of $190 billion, with the higher spending on AI data centers and infrastructure contributing to the company's quarterly cash flow turning for the first time since Google went public, per Bloomberg's report.
"Alphabet's higher investment outlook helps reinforce our view that the AI infrastructure buildout remains a durable theme," said Edward Jones senior analyst Brian Therien. "However, the negative share-price reaction may indicate that investors are becoming more focused on returns generated on AI-related investments."
Tesla's profits came in well below the estimates of Wall Street analysts amid a ramp up in spending, with CEO Elon Musk saying on the company's earnings call that 2026 will be a "massive capex year" and that the company "should be spending on capex as fast as we can – spend as fast as we can without it being too wasteful."
The company's spending aims to enhance its AI capabilities as well as boosting production of Optimus humanoid robots, as well as robotaxis and autonomous vehicles.
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Ryan Lee, senior vice president of product and strategy at Direxion, said in a note that, "While Tesla continues to invest heavily in AI and robotics, monetization remains the central concern following the earnings miss."
"Tesla has become the physical AI story, with the potential to bring artificial intelligence into consumers' everyday lives through autonomous vehicles and robotics. The question is how quickly those investments can begin supporting the valuation," Lee added.
https://www.foxbusiness.com/markets/magnificent-7-stocks-shed-hundreds-billions-amid-ai-spending-fearsOpenAI co-founder warns AI models are becoming harder to control after its model hacked another firmGreg Brockman, co-founder and president of OpenAI, said at a recent conference in New York that artificial intelligence models are becoming so advanced that engineers don't always know all the capabilities they have.
OpenAI co-founder and president Greg Brockman said at an event that AI models are becoming so advanced and multi-faceted that engineers are struggling to monitor and control them.
Brockman, while speaking at a private OpenAI media roundtable in New York City this week, addressed a recent incident where one of the company's AI models broke out of what was supposed to be a secure sandbox and hacked into Hugging Face, an online platform for AI learning.
The model believed Hugging Face had solutions that could allow it to cheat on an assessment it had been given, according to OpenAI.
"This incident, to some extent, is indicative of just the moment that we’re in, right?" Brockman said, according to Fortune. "Sometimes it’s hard to lose track of any one dimension that [the AI models are] actually very capable at."
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Brockman said the model's ability to target Hugging Face underscored how good OpenAI's products are at cybersecurity tasks.
"Can we be in a world where defenders are able to spend 10 times as much compute defending and making sure every single piece of software that we have is fully secure relative to anyone else?" Brockman said, according to Fortune.
Brockman said OpenAI is taking the breach "very seriously."
However, OpenAI has also used the event to pitch its own models for their cybersecurity prowess. As part of that, the company has asked potential clients to apply for a "trusted partner" status to get access to these models.
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"We encourage other defenders to apply for trusted access and experiment with these models now to translate these capabilities into better prevention, faster detection, and more effective incident response," OpenAI wrote in a blog post.
While at the event in New York, Brockman also addressed questions about the Trump administration considering a ban on Chinese-made AI models. Axios reported on this potential policy earlier this week.
"AI is something that is very important to democratize," Brockman said, before saying having access to more models is a good thing. He did not explicitly say whether he'd support a ban on AI model made by companies based in China.
Per FEC filings, Brockman has become one of the biggest donors to President Donald Trump's political movement, last year giving $12.5 million to MAGA Inc., a Trump-aligned Super PAC.
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Brockman said he has not been in conversation with any Trump officials about a blanket ban on Chinese AI.
"For any model, it’s not really about who creates it," he said. "How do you evaluate a model? How do you think about its safety? How do you think about its use cases? How do you understand its alignment?"
The Trump administration is weighing a ban after Beijing-based Moonshot AI released its Kimi K3 model, Axios reported.
The model may be able to equal the performance of the best models from American firms OpenAI and Anthropic, but at a fraction of the cost.
Michael Kratsios, a science advisor to the president, publicly accused Moonshot of using American AI companies' models to train their own, thereby infringing on their intellectual property rights.
"We have information that Moonshot AI distilled Anthropic’s Fable for the development of its K3 model," Kratsios wrote in a social media post on Wednesday. "Large-scale, covert industrial distillation aimed at stealing proprietary U.S. technology and undermining American research is unacceptable."
The U.S. government's concerns about Chinese AI models is not necessarily shared by everyone in the AI industry, including Brockman and Nvidia CEO Jensen Huang.
Huang this week called the latest AI models to come out of China "excellent" and said that they "should be used."
https://www.foxbusiness.com/technology/openai-co-founder-warns-ai-models-becoming-harder-control-after-its-model-hacked-another-firmAmericans save more than $700M on prescription medications through TrumpRx, White House saysAmericans have saved more than $700 million on TrumpRx.gov using most-favored-nation pricing, according to new data. The site features over 800 drugs from major firms.
New White House data obtained by FOX Business shows that Americans have saved more than $700 million on prescription medications using TrumpRx.gov and most-favored-nation pricing.
More than 800 brand-name and generic medications from the 17 largest pharmaceutical companies can be found on the website with transparent pricing.
Praluent, a powerful cholesterol medication, will be added to TrumpRx.gov on Friday. The drug helps reduce the risk of stroke and heart attack for patients.
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The medication was jointly developed by Regeneron Pharmaceuticals and Sanofi. Regeneron handles distribution and sales in the U.S. and Sanofi handles the responsibilities for the rest of the world.
The retail price of Praluent, before adding it to the most-favored-nation pricing, was $537 for a one-month supply. The new price is now 60% off at $225 for a one-month supply.
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"TrumpRx.gov is a historic game changer for American patients, and this innovative initiative reflects how President Trump hasn’t been afraid to think outside the box to lower prescription drug prices," said White House spokesman Kush Desai. "The addition of Praluent, a powerful cholesterol medication, is another win for TrumpRx, and the Trump administration remains focused on delivering even more savings for the American people."
BRISTOL MYERS SQUIBB ADDING 3 MEDICATIONS ON TRUMPRX
Pharmaceutical companies that enter into the Trump administration's most-favored-nation pricing agreements and commit to expanding U.S. manufacturing can avoid future 100% tariffs on imported medications.
Adding 100% tariffs on medications starts Aug. 1, 2028, rising to 200% a year after that.
https://www.foxbusiness.com/politics/americans-save-more-than-700m-prescription-medications-through-trumprx-white-house-saysMoody's says 'unprecedented' AI spending threatens credit quality of Amazon, Meta, Alphabet and othersMoody's said AI spending is forcing even the world's most cash-rich corporations to lean heavily on debt, stock sales and off-balance-sheet moves.{}
Panthers make long-term decision on stadium name amid $1.3 billion worth of enhancements, team investmentsThe Carolina Panthers and Bank of America have agreed to a long-term naming rights extension, paired with more than $1.3 billion in stadium renovations and enhancements.
A mainstay in the Carolinas will keep its sense of familiarity while also getting a modern-day makeover.
The NFL's Carolina Panthers have reached a long-term agreement with Bank of America to extend one of the NFL's longest stadium naming rights deals.
Along with fan-focused enhancements and an increase in private investments, the long-term plan is worth more than $1.3 billion.
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The agreement will keep the stadium known as "The Bank" for the foreseeable future, and renovations will be underway at the 30-year-old venue.
"The long-term extension with Bank of America reflects the strength of our partnership and our shared commitment to the Carolinas," said David Tepper, owner and chairman of Tepper Sports & Entertainment, which owns the Panthers. "For over three decades, Bank of America Stadium has helped create lasting memories for our fans, and we’re excited for them to see what’s ahead. Our goal is to create experiences that enhance the passion and energy of the region while transforming this corridor into a weekend destination for world-class sports, entertainment and community events."
Bank of America Chair and CEO Brian Moynihan added, "Over the years, Bank of America’s partnership with the Carolina Panthers has become one of the most enduring in professional sports. With nearly 20,000 teammates and a local history dating back to 1874, our ties to Charlotte run deep, and so does our commitment to its continued growth. The extension recognizes Bank of America Stadium’s important role of attracting millions of visitors, driving economic opportunity and showcasing Charlotte and the Carolinas."
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After initially opening in 1996 as Ericsson Stadium for the Swedish telecom company LM Ericsson, Bank of America purchased the naming rights in 2004 under a 20-plus-year deal.
The relationship between Bank of America and the Panthers dates back to the team’s founding in the early 1990s, when former Bank of America CEO Hugh McColl played a key role in helping the Carolinas secure an NFL expansion franchise. That shared history laid the foundation for a partnership that has helped shape countless moments for fans while maintaining a longstanding commitment to community impact.
Renovations to the stadium will include expanded indoor-outdoor gathering spaces across all levels, a 500-level social patio with sweeping views of Uptown Charlotte, larger and more dynamic scoreboards and displays, upgraded seating options, premium offerings, and technology designed to create a more connected and personalized experience.
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Renderings also reveal an elevated vision for the stadium exterior, with upgraded materials and a signature illuminated crown that will become part of the Queen City skyline. Design details will draw inspiration from the people, places and landscapes of the Carolinas, creating spaces that feel authentic to the region.
The Panthers won the NFC South this past season before narrowly missing out on a huge upset against the Los Angeles Rams on their own home field. Quarterback Bryce Young is entering his fourth season, and the Panthers will look to make the playoffs in back-to-back seasons for the first time since making it each season from 2013 to 2015.
https://www.foxbusiness.com/sports/panthers-make-long-term-decision-stadium-name-amid-1-3-billion-worth-enhancements-team-investmentsAmazon Prime settlement: How eligible customers can claim their refundThe claims window is closing for some consumers who say they were enrolled in Amazon Prime unintentionally or struggled to cancel the subscription
Some Amazon Prime customers have days remaining to file claims for refunds of up to $51 under the company’s $2.5 billion settlement with the Federal Trade Commission.
Claims must be submitted by July 27, 2026, through the official settlement website. The deadline applies to eligible consumers who have not already received an automatic payment.
Amazon agreed in September 2025 to place $1.5 billion into a consumer refund fund and pay a separate $1 billion civil penalty. The company did not admit wrongdoing in agreeing to the settlement.
The FTC alleged that Amazon enrolled consumers in Prime without obtaining informed consent and made the subscription difficult to cancel. The settlement requires changes to the company’s enrollment and cancellation processes, including clearer disclosures and an easier way for customers to decline or cancel Prime.
POPULAR TEETHING TOY SOLD ON AMAZON FOR YEARS RECALLED OVER CHOKING HAZARD FOR CHILDREN
To qualify for the claims process, consumers must be U.S. Amazon Prime customers who signed up through one of the enrollment flows challenged by the FTC, or unsuccessfully tried to cancel online, between June 23, 2019, and June 23, 2025.
The challenged enrollment flows include Amazon’s universal Prime decision page, shipping selection page, single-page checkout and Prime Video enrollment process. Amazon will determine whether a customer enrolled through one of those flows.
Eligible consumers must have used more than three but fewer than 10 Prime benefits during any 12-month period of Prime enrollment and must not have already received an automatic refund.
Consumers filing a claim must confirm that they either enrolled unintentionally or tried and failed to cancel through Amazon’s online process.
Approved claimants may be reimbursed for Prime membership fees, up to $51. Submitting a claim does not guarantee payment.
Payments can be issued by check, PayPal or Venmo. The FTC said Amazon expects to distribute claims-process payments in late 2026, but a specific mailing date has not been announced.
The agency is also warning consumers about refund scams. Neither the FTC nor Amazon will require a payment to release a settlement refund, and consumers should be wary of anyone promising guaranteed approval or special access.
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Claims can be filed at SubscriptionMembershipSettlement.com. Questions can be sent to admin@SubscriptionMembershipSettlement.com.
https://www.foxbusiness.com/fox-news-tech/amazon-prime-settlement-how-eligible-customers-can-claim-refundParamount agrees to delay WBD acquisition to as late as June 2027 amid legal challengeParamount previously said it intended to complete its WBD acquisition by the end of September, but said Friday the agreement is a "significant win."{}
CDC says massive cyclospora outbreak is now in nine statesThe four newly linked states — Illinois, Kansas, Oklahoma and Pennsylvania — join Indiana, Kentucky, Ohio, West Virginia and hard-hit Michigan.{}
Dave Portnoy says USA Today writer belongs in 'insane asylum' over Caitlin Clark-Emmett Till comparisonDave Portnoy says firing isn't enough for USA Today's Nancy Armour after her column linked Caitlin Clark to Emmett Till's lynching, drawing a public apology.
Dave Portnoy called for the firing of a USA Today columnist who compared WNBA star Caitlin Clark to the 1955 lynching of Emmett Till, arguing the writer belongs in an "insane asylum" for the piece.
Speaking on "Varney & Co.," the Barstool Sports founder ripped into columnist Nancy Armour, declaring her comparison between Indiana Fever star Clark and the murder of Black teen Emmett Till the "craziest thing" he’s seen in more than two decades of sports media.
"We've got to put her in a straightjacket. You've got to find the nearest institution. You've gotta put this author away and throw away the key," Portnoy said Friday.
"Firing isn't really far enough. You gotta put her in an insane asylum. You gotta lock her up. And people who say, 'Hey, Dave, that's too far' — that's nothing compared to what she just wrote," he later added.
TRUMP ADMINISTRATION UNVEILS NEW TARIFFS ON 60 TRADING PARTNERS AS TEMPORARY DUTIES EXPIRE
Armour wrote that some of Clark’s supporters have interpreted her disputes with referees as a White woman who needs protection, then taken it out on other players on the court. Clark has been a frequent topic of discussion after facing physical play during games.
The author wrote that there is a "White nationalist element" to the dispute, and later added that, "it shouldn’t need reminding this country has an awful history of Black people being harmed, even killed, in the name of ‘defending’ white women."
The writer then said the WNBA's All-Star Game was being held in Chicago, where Emmett Till lived. Emmett Till was a 14-year-old Black boy who was abducted and lynched in Mississippi in 1955 after a White woman accused him of making advances toward her. The tragedy became a major catalyst for the modern civil rights movement.
IBM CEO ADDRESSES WALL STREET TECH PANIC AFTER DELAYED ENTERPRISE SOFTWARE DEALS SURGE BACK
"I've been doing Barstool 24 years. I'm 49 years old. That's the craziest thing I've ever seen in my life. The absolute craziest thing. To somehow equate the civil rights movement and Caitlin Clark arguing whether she got fouled or not," Portnoy said. "It is pure insanity."
Portnoy called for the firing of not only Armour, but also other members of the editorial staff involved with the article.
CATHIE WOOD SAYS BATTERED SPACEX COULD BECOME 'MOST IMPORTANT COMPANY IN GLOBAL HISTORY'
"I do think she should be fired. I think the editor who allowed this to be published should be fired," he said, later adding that not every story should be anchored around racial disputes.
"If you go looking for race under every single blank, every cover, you can make anything about race," Portnoy said.
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Armour apologized for making the connection in her article in a statement posted Thursday on social media: "In my recent column, I made an inartful comparison with the murder of Emmett Till. I intended to connect the issues the WNBA is currently facing with its All-Star Game being hosted in Till’s hometown of Chicago," she said, adding, "I obviously did not provide enough context for that."
Armour also noted that she stands by the assertion that perceived threats toward White women are weaponized against Black Americans but added that she sincerely regrets that her "lack of appropriate context is overshadowing that important conversation and the action that needs to be taken by the WNBA to address it directly — for the benefit of all players."
https://www.foxbusiness.com/media/dave-portnoy-usa-today-writer-belongs-insane-asylum-caitlin-clark-emmett-till-comparisonAlbertsons warns of softer grocery demand as consumers pull backAlbertsons cut its annual outlook after comparable grocery sales declined, while digital and pharmacy growth helped offset pressure in its core business.
Albertsons lowered its fiscal 2026 sales and earnings outlook Thursday after weaker grocery demand and a more cautious consumer weighed on its first-quarter performance.
The grocery chain now expects identical sales to decline between 0.5% and 1.5% for the full fiscal year, compared with its previous forecast of flat sales to 1% growth.
Albertsons also cut its adjusted earnings forecast to between $1.75 and $1.85 per share, down from its prior range of $2.22 to $2.32. Adjusted EBITDA is now expected to range from $3.55 billion to $3.625 billion, compared with its earlier forecast of $3.85 billion to $3.925 billion.
Identical sales fell 0.8% during the quarter ended June 20, while net sales and other revenue edged up 0.2% to $24.94 billion, helped by higher fuel sales. Digital sales increased 13%, although the company said its core grocery business faced mounting pressure from softer industry unit trends.
MAJOR GROCERY CHAIN BEATS WALMART, ALDI IN PRICE WAR AS SHOPPERS HUNT FOR CHECKOUT RELIEF
"In the first quarter, our digital and pharmacy businesses continued to deliver strong growth, while core grocery faced increasing pressure from softer industry unit trends and a more cautious consumer," CEO Susan Morris said in the company’s earnings release.
Albertsons said it is accelerating investments aimed at strengthening its customer value proposition and improving the shopping experience before anticipated productivity benefits take hold.
"We are choosing to accelerate investments in our customer value proposition and the customer experience ahead of expected productivity benefits because we believe these actions will improve our growth trajectory, strengthen our competitive position, and create long-term shareholder value," Morris said.
As part of that effort, Albertsons announced an operating realignment called ACI Edge. The company consolidated its 11 divisions into four regions and placed center-store merchandising under a single enterprise team.
Albertsons said the restructuring is intended to accelerate decision-making, improve local execution and bring category management, supplier relationships and merchandising strategy under a more centralized structure.
First-quarter net income fell to $84.7 million, or 17 cents per share, from $236.4 million, or 41 cents per share, a year earlier. Adjusted earnings declined to 42 cents per share from 55 cents.
Gross margin narrowed to 26.6% from 27.1%. Albertsons attributed some of the pressure to higher delivery and handling expenses associated with digital growth, along with higher fuel costs.
Separately, Albertsons said Chief Financial Officer Sharon McCollam plans to retire later this year. McCollam will remain in her current role until a successor is named and will then serve in an advisory capacity through Feb. 27, 2027, to assist with the transition.
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Albertsons operated 2,240 stores across 35 states and the District of Columbia as of June 20.
https://www.foxbusiness.com/economy/albertsons-warns-softer-grocery-demand-consumers-pull-backGuatemala: A Narrow Opening in a Captured Justice System
MONTEVIDEO, Uruguay, July 24 (IPS) - José Rubén Zamora, founder of elPeriódico, Guatemala’s now-defunct leading investigative newspaper, spent 1,295 days in detention before a court granted him house arrest on 12 February. He endured long stretches of solitary confinement in a military jail, held in near-constant darkness and subjected to treatment that six UN experts warned could amount to torture. His offence was simply doing his job. For decades, he exposed the corrupt dealings of Guatemala’s economic and political elites. Prosecutors are still trying to send him back to prison.
Read the full story, “Guatemala: A Narrow Opening in a Captured Justice System”, on globalissues.org →
https://www.globalissues.org/news/2026/07/24/43665 {"url":"https://static.globalissues.org/ips/2026/07/perseguidos_-100x100.jpg"}From Castel Gandolfo to Campidoglio: Call for Human Dignity to Be at the Heart of the AI Revolution
ROME, July 24 (IPS) - After two days of debate at an international conference devoted to the challenges of artificial intelligence (AI), nuclear war and global security, Nobel laureates, former heads of state and government, scientists, human rights defenders, religious leaders and representatives of civil society adopted a joint declaration, calling for it to be based on human dignity.
https://www.globalissues.org/news/2026/07/24/43664 {"url":"https://static.globalissues.org/ips/2026/07/f59ac244-1b2d-4317-bd74-197365be17df-100x100.jpg"}Boom in tech wealth is fueling record prices for dinosaur bones, art and watches, auction houses sayThe major auction houses racked up nearly $10 billion in sales in the first half, marking one of the strongest-ever starts to the year.{}
Trump administration unveils new tariffs on 60 trading partners as temporary duties expireNew tariffs of 10% and 12.5% hit 60 trading partners Friday as the temporary global tariff expires, with Canada, India, the EU and Taiwan affected.
The Trump administration is set to impose new tariffs of 10% and 12.5% on imports from 60 trading partners beginning Friday as a temporary global tariff expires.
The move comes after the Supreme Court in February struck down President Donald Trump's "reciprocal" tariffs of 10% to 50% that were imposed last year. In response, Trump implemented a temporary 10% global tariff under Section 122 of the Trade Act of 1974 that expires at 12:01 a.m. ET Friday.
The Office of the U.S. Trade Representative announced Thursday that the new tariffs, imposed under Section 301 of the Trade Act of 1974, will take effect immediately after the temporary duties expire.
Canada, Mexico, India and the United Kingdom are among the trading partners that will face a 10% tariff.
TRUMP UNVEILS PHASED TARIFFS ON GENERIC DRUGS TO BOOST US PRODUCTION
Taiwan and the European Union, meanwhile, are slated to face a 12.5% tariff.
"The United States has had a forced labor import ban for nearly a century, and rigorously enforces it; it’s well past time for our trading partners to do the same," U.S. Trade Representative Jamieson Greer said in a news release.
A senior administration official told Reuters the new tariffs are not intended to replace the expiring global duties despite taking effect at the same time.
TRUMP ADMINISTRATION WARNS EU'S $1B FINE AGAINST GOOGLE THREATENS US-EUROPEAN TRADE RELATIONSHIP
The official argued that the United States enforces bans on goods made with forced labor more aggressively than any other country, putting American businesses at a competitive disadvantage.
Many products will be exempt from the tariffs, including oil and gas, fertilizer, certain food products and goods already subject to Section 232 national security tariffs, including automobiles, steel, aluminum and copper.
The announcement follows a series of new trade actions unveiled by the Trump administration this week.
WHAT ARE THE MAIN STICKING POINTS IN THE TRUMP ADMIN'S TRADE NEGOTIATIONS WITH CANADA, MEXICO?
On Tuesday, Trump announced imported generic drugs would remain tariff-free for two years before facing steep new duties, saying the move is intended to encourage pharmaceutical companies to manufacture more medicines in the United States.
On Monday, Trump also announced a 50% tariff on certain Canadian imports, citing what officials described as trade "discrimination" against American businesses.
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Those duties are scheduled to take effect Aug. 19 under the Tariff Act of 1930 and apply to a range of Canadian imports, including certain food products, apparel, synthetic materials and industrial goods.
FOX Business' Brittany Miller and Bonny Chu, along with Reuters, contributed to this report.
https://www.foxbusiness.com/politics/trump-administration-unveils-new-tariffs-60-trading-partners-temporary-duties-expireWalmart recalls over 16,000 dressers that violate federal safety law due to potentially deadly hazardMore than 16,800 EnHomee 9-Drawer Fabric Dressers sold on Walmart.com are being recalled after the CPSC said they pose tip-over hazards and violate federal safety standards
Federal safety regulators have recalled more than 16,800 fabric dressers sold through Walmart.com after determining the units fail to meet mandatory federal stability standards designed to prevent tip-over accidents involving children.
The Consumer Product Safety Commission (CPSC) announced Thursday that about 16,809 EnHomee 9-Drawer Fabric Dressers are being recalled because they are unstable if not anchored to a wall, creating tip-over and entrapment hazards that could result in serious injury or death to children.
The agency said the dressers violate the mandatory federal safety standard for clothing storage units required under the STURDY Act, a law enacted to help prevent furniture tip-over incidents involving children.
JAGUAR LAND ROVER RECALLS MORE THAN 15,000 VEHICLES OVER VISIBILITY-LIMITING DEFECT
The recalled dressers were sold on Walmart.com by third-party seller Raybee-Direct between September 2023 and March 2026 for about $80. They were available in white, brown, gray and black and feature nine fabric drawers supported by a metal frame. Only units ordered before March 30, 2026, are included in the recall.
The CPSC said no injuries or incidents related to the recalled dressers have been reported.
Consumers should stop using the dressers immediately if they are not anchored to a wall and move them to an area that children cannot access, according to the agency.
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Consumers can contact Raybee-Direct for instructions on determining whether their dresser is included in the recall and how to dispose of it to receive a full refund.
To complete the refund process, consumers must submit a photo showing the dresser has been disposed of.
The recalled dressers were manufactured in China by Xuzhou Mingquanhe Household Co., Ltd. and imported by Changsha Yiman Keji Youxian Gongsi, doing business as Raybee-Direct.
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Consumers seeking additional information can contact Raybee-Direct by emailing RaybeeRecall@outlook.com.
FOX Business has reached out to Walmart and Raybee-Direct for comment.
https://www.foxbusiness.com/lifestyle/walmart-recalls-16000-dressers-violate-federal-safety-law-potentially-deadly-hazardMore than 1.5 million dozen egg cartons recalled over possible salmonella contaminationMore than 1.5 million dozen shell eggs sold under multiple brands have been recalled after routine testing raised concerns about possible salmonella contamination.
More than 1.5 million dozen shell eggs sold in six states have been voluntarily recalled over potential salmonella contamination, federal regulators announced Wednesday.
The U.S. Food and Drug Administration (FDA) said Midwest Poultry Services initiated the voluntary recall, affecting 1,589,577 dozen cartons of white shell eggs and brown cage-free shell eggs.
Officials said the recalled products were sold under several brands, including Kroger, Brookshire's, Country Morning, Simple Truth, and Sunups, as well as various bulk Grade A and Grade AA eggs.
The eggs were ultimately distributed to retail and food service customers in Texas, Oklahoma, Arkansas, Louisiana, New Mexico and Mississippi, as well as other smaller retail outlets, according to the FDA.
The affected products were produced at two farms in Texas, according to the FDA.
Officials said the issue was discovered during routine environmental testing. No illnesses have been reported in connection with the eggs.
"When we learned of a possible issue with egg safety, we began diverting eggs to a breaking plant where they would be pasteurized to kill any foodborne pathogens," Midwest Poultry Services told FOX Business in a statement on Thursday.
"We also began a robust internal investigation and initiated testing protocols to identify potential sources of SE," the company added, referring to Salmonella Enteritidis.
"Producing safe, quality food for those who eat our eggs is our highest priority, and this voluntary investigation and recall demonstrates that commitment."
TARGET, KROGER, MEIJER FRUIT PURÉE POUCHES RECALLED OVER PLASTIC RISK: FDA
The recall includes various carton sizes and egg counts.
Consumers can identify affected products by the codes printed on the side of the carton. The eggs were packed and distributed between June 6 and July 3, with sell-by or best-by dates ranging from July 20 through Aug. 17.
The affected cartons also bear plant code P-1950 or 840962 with a Julian Date between 157 and 184.
Consumers who purchased the recalled eggs should not eat them and should return them to the place of purchase for a full refund.
According to the FDA, salmonella can cause serious and sometimes fatal infections in young children, older adults, frail individuals and people with weakened immune systems.
Healthy people infected with salmonella may experience fever, diarrhea that may be bloody, nausea, vomiting and abdominal pain.
In rare and severe cases, the bacteria can enter the bloodstream and cause more serious illnesses, including arterial infections, infected aneurysms, endocarditis and arthritis.
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Consumers with questions can contact Midwest Poultry Services' consumer helpline at 574-405-9531, available Monday through Friday from 8 a.m. to 4:30 p.m. EST, or email recallassistance@mpseggs.com.
https://www.foxbusiness.com/lifestyle/more-than-1-5-million-dozen-egg-cartons-recalled-over-possible-salmonella-contaminationMortgage rates hit highest level in nearly a yearThe 30-year fixed mortgage hit 6.58% this week, its highest level in nearly a year, as the conflict between the U.S. and Iran pushes oil prices higher.
Mortgage rates rose again this week and reached the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey showed the average interest rate on the benchmark 30-year fixed mortgage rose to 6.58% this week, up from 6.55% last week.
This week's reading is the highest in about 11 months. The 30-year fixed mortgage rate was last at 6.58% Aug. 21, 2025. At this time a year ago, the rate was 6.74%.
HOUSING AFFORDABILITY TO IMPROVE AS HOME PRICE GROWTH COOLS, REALTOR.COM FORECASTS
"The 30-year fixed-rate mortgage averaged 6.58% this week," said Freddie Mac Chief Economist Sam Khater.
"As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan's lifetime."
The average rate on a 15-year fixed mortgage also moved higher to 5.96%, up from 5.93% last week. A year ago, the 15-year fixed mortgage had an average rate of 5.87%.
STARTER HOME AFFORDABILITY IS CRAWLING BACK. THESE REGIONS ARE BEST FOR FIRST-TIME BUYERS
Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield rose slightly to 4.699% as of Thursday afternoon.
"While mortgage rates remain elevated, homebuyers may be better served focusing on the full cost of homeownership rather than trying to guess where rates will be a few months from now," said Jeff DerGurahian, chief investment officer and head economist at LoanDepot.
"The tug-of-war between inflation and the renewed conflict between the U.S. and Iran is reflected in today's rates, as higher oil prices raise concerns that elevated energy costs could filter into future inflation readings."
RECORD DECLINE IN HOME ASKING PRICES OFFERS BUYERS AN AFFORDABILITY BOOST
The latest mortgage data comes as conditions in the housing market have improved somewhat for buyers, many of whom have been on the sidelines as tight inventory has supported higher home prices and mortgage rates have held relatively steady.
Realtor.com recently released a midyear update to its 2026 housing market forecast that estimates home price growth will slow to 1.2% this year, a rate that's slower than the original forecast for the year and is below the current pace of inflation.
That means home prices would be effectively declining in real, inflation-adjusted terms.
https://www.foxbusiness.com/economy/mortgage-rates-hit-highest-level-nearly-yearLARRY KUDLOW: GOP needs a swag-worthy message on draining swamp, slashing middle-class taxes for growthThe GOP is failing to explain why it’s important to keep control of Congress, and what they will do if re-elected
There’s no question that the Congressional Democrats and their socialist/communist DSA allies want to block every single item that President Trump is trying to get through Congress. It’s Trump derangement syndrome. They’re opposed to military spending for peace through strength, and opposed to supplemental spending on the Iran war.
They’re completely blind to the fact that their Joe Biden-Barack Obama big government socialism has sprung millions of fraudulent and corrupt and criminal leaks in these bloated Medicaid, hospice, Obamacare, SNAP food stamps, and other programs. So much so that RFK Jr. cut off $1 billion in California and Minnesota. Yet that’s just the tip of the iceberg.
And if they ever retake Congress, the Democrats will double up on their government takeover of the economy. Bet on it. They’ll raise taxes on wealth and income across the board, so that all of America looks like high-tax blue states such as California or New York. They’re opposed to data centers and the AI revolution, thereby boosting Communist China in the AI race, and robbing working-class jobs like welders, electricians, carpenters, plumbers, and other trades people. Working folks. They’d rob those jobs.
Democrats are gonna try to shut the government down on September 30. And if they ever retake Congress, they’ll jump to impeach Mr. Trump again. And they’re opposed to the voter ID SAVE America Act because all along they’re hoping that 15 million illegals who crossed the border under President Biden will figure out how to get drivers licenses in order to vote.
We already saw 6,600 noncitizens registered to vote in New Jersey. The governor said it was a software glitch. Sure it was. Blame the motor vehicle agency. Sure, that’s all there was, right? So all that said, what might happen under Democrat-socialist-communist rule? The regrettable fact remains that the Republicans are not showing any swag or rizz, shorthand for swagger or charisma, when it comes to communicating a clear message and showing folks why it’s important to keep the GOP Congress, and what they are going do if re-elected.
Senator John Thune, the majority leader, said today the Senate lacks votes for the $95 billion House budget resolution. To quote him, "as I’ve said before you got to get to 50, and I can’t count to 50 right now on a budget resolution."
Meanwhile, Karoline Leavitt said the president’s patience with Mr. Thune and Republicans is running low. In remarks to the press, she explained: "Look, the president spoke about this directly yesterday. His patience is running out. He wants to see as much of the Save America passed as possible by the August recess. He knows that’s what the American people want to see passed."
This is what I was talking about last evening. And the night before that. Yet the kind of rizz and aura I’m talking about is a Big Bang leadership appeal to win. Let’s cut $500 billion out of waste, fraud, abuse, and corruption — that was the Government Services Administration’s number. That was Elon Musk’s number. And the public clamors for draining the D.C. swamp.
Free enterprise means smaller government. And then let’s give middle class taxpayers a break so they don’t pay tax on Mr. Biden’s vast inflation. Now look, tax-free tips and overtime were great ideas from the one big beautiful bill along with 100 percent bonus depreciation, which has spurred such an enormous business investment boom.
All that was great, but now to help working folks this year, the GOP needs to inflation index capital gains, and raise the cap gains exemption on the sale of a home to perhaps up to $2 million. That will help those empty nester families that don’t need the big house they’ve owned for 30 years, while the inflation rate has gone up by some 108 percent.
Those are swag messages. Those are rizz messages. Instead of saying "I lack the votes," let’s say "We’re going to win and here’s how, and we’re gonna strut this message in full public view between now and the midterm election."
https://www.foxbusiness.com/politics/larry-kudlow-gop-needs-swag-worthy-message-draining-swamp-slashing-middle-class-taxes-growthDepartment of War taps Oracle for software deal worth nearly $7BThe agreement, which could run for up to 10 years, is projected to save taxpayers at least $441 million by consolidating Oracle software purchases across the military.
The Department of War announced Thursday that it awarded Oracle a software contract worth nearly $7 billion aimed at cutting costs and modernizing technology across the military.
The agreement carries a base value of $3.31 billion over its first five years and could reach $6.99 billion if the government exercises an additional five-year option, according to Oracle.
The department said the contract is projected to save taxpayers at least $441 million by consolidating fragmented Oracle software purchases and licenses under a single department-wide framework.
Negotiated by the U.S. Navy, the deal marks the department’s "first-ever" direct contract with Oracle covering its on-premises software use.
ANDURIL, ARCHER AVIATION UNVEIL HYBRID-ELECTRIC VTOL FOR DEFENSE AND COMMERCIAL USE
"By fundamentally improving how we procure on-premises Oracle capabilities, we are driving at least $441 million in taxpayer savings while rapidly and effectively serving our warfighters," Department of War Chief Information Officer Kirsten Davies said in a statement.
"This nearly $7 billion agreement with Oracle strengthens our digital ecosystem, supporting our warfighters with secure, scalable technology to dominate current and future missions."
The agreement will support the Department of War, the Coast Guard and the intelligence community.
The indefinite-delivery, indefinite-quantity contract will allow Department of War organizations to "purchase Oracle commercial offerings, including on-premises software and support, software-as-a-service (SaaS) applications and professional services through task and delivery orders tailored to specific mission and operational requirements," according to Oracle.
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Pricing, deliverables and performance criteria will be "defined at the order level," Oracle said.
"For the Department of War, the challenge is not just finding the right technology, it’s doing so quickly, compliantly and at scale without getting bogged down by complex procurement processes," Kim Lynch, executive vice president of government, defense and intelligence at Oracle, said in a statement.
Oracle has supplied technology to the department since the 1990s and said military organizations will begin transitioning to the new contract framework this summer.
"For the Department of the Navy, this agreement supports faster delivery of secure, scalable software from the shore enterprise to the tactical edge for our Navy and Marine Corps teams," said Barry Tanner, who is performing the duties of the Navy’s chief information officer.
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The Oracle agreement comes as the Department of War ramps up its adoption of AI and other advanced technologies.
In January, the department unveiled an Artificial Intelligence Acceleration Strategy intended to speed military AI deployment, reduce bureaucratic barriers and "establish the United States as the world’s undisputed AI-enabled fighting force."
In February, the Department of War told FOX Business it would partner with OpenAI to integrate ChatGPT into GenAI.mil, a platform for military service members.
FOX Business' Louis Casiano contributed to this report.
https://www.foxbusiness.com/politics/department-war-taps-oracle-software-deal-worth-nearly-7bHow America reached a political tipping point for socialismFrom COVID-19 spending and inflation to border costs and education, FOX Business breaks down the "perfect storm" paving the way for a socialist surge in America.
How could this happen? How could so many socialist and openly Marxist candidates be winning elections?
The answer is a perfect storm of man-made and natural disasters. The storm began with the COVID-19 pandemic.
For three years, supply lines were halted, our movements restricted, even our ability to worship together was controlled.
As former Obama chief of staff Rahm Emanuel once said, "You never want a serious crisis to go to waste."
DAVID ASMAN ON COVID-19 TIPPING OFF RISE IN SOCIALISM: 'PERFECT STORM'
Government agencies gorged themselves on almost $5 trillion in so-called temporary COVID-19 spending. But much of that funding became permanent.
"We created a program with great danger when we allowed expansion of Medicaid," said Dr. Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services.
The U.S. government now spends more per capita annually on Medicare and Medicaid than what the British government spends on its socialist medical system.
CUOMO SOUNDS ALARM ON NEW YORK EXODUS: 'DON'T CHASE PEOPLE OUT' TO SOUTHERN STATES
The massive expansion of government hit Middle America hard, with high inflation peaking at 9.1% in 2022. Making the slide into socialism worse was the enormous spending on millions of new migrants during former President Joe Biden’s open-border policies, costing taxpayers an estimated $150 billion to more than $450 billion annually.
LATIN AMERICA'S SOCIALIST EXPERIMENTS LEAVE DEVASTATING TRAIL OF ECONOMIC COLLAPSE AND POVERTY
The seeds of hatred for capitalism were sown on fertile ground: Young voters have become products of a woke education system that prizes indoctrination over basic educational skills.
A recent report by an education watchdog shows teachers unions contributed more than $1 billion to political activism and left-wing social causes since 2015. All you have to do is listen to what they are saying.
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"To fight back against this fascist regime, we need to be in the streets, wisely using our wallets, battling in the courts and winning at the ballot box," said Jeffery Freitas, the president of the California Federation of Teachers.
It turns out the left has been laying the groundwork for this moment for years, and socialists were just waiting for the perfect storm to try it out.
https://www.foxbusiness.com/politics/how-america-reached-political-tipping-point-socialismWhite House monitoring incident after OpenAI models escaped containment and hacked Hugging Face systemsAn OpenAI AI agent escaped containment during testing and hacked Hugging Face's systems, prompting White House monitoring of the security incident.
The White House is monitoring an incident disclosed by OpenAI in which one of the company's AI models went rogue during testing and hacked the system of an AI infrastructure startup.
The ChatGPT maker said Tuesday one of its AI agents escaped containment during a security test and triggered a hack that compromised the infrastructure of Hugging Face, which operates a platform for developers to collaborate on code for AI models.
The incident demonstrated the expanding capabilities of AI models to go beyond their guardrails and create cybersecurity threats.
Michael Kratsios, who serves as the director of the White House Office of Science and Technology Policy and is a science advisor to the president, was briefed on the incident and is monitoring the situation, a White House official told Reuters.
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OpenAI said the incident happened during an internal evaluation designed to measure its AI models' advanced cyber capabilities.
Researchers disabled some built-in safety safeguards and ran the models in an isolated testing environment with limited internet access.
The company explained that the models exploited an unknown software flaw to access the internet, then breached Hugging Face's systems in an apparent attempt to cheat on the cybersecurity evaluation it was undergoing.
OPENAI SAYS AI MODEL HACKED ANOTHER COMPANY'S SYSTEMS DURING INTERNAL TEST
OpenAI's team discovered the anomalous activity internally, while Hugging Face's security team detected and stopped the activity. Hugging Face had already begun containment and forensic reconstruction with their own models when the OpenAI team connected with them.
OpenAI CEO Sam Altman said Tuesday in a post on X that "we had a significant security incident during evaluation of our models," adding that the company was sharing what it learned so far and appreciated Hugging Face's partnership on the issue.
"We're grateful for the collaboration with OpenAI on this and other topics," said Hugging Face co-founder and CEO Clem Delangue. "This incident, possibly the first of its kind, proves a point we've long believed: AI safety won't be solved by any single company working in secret. It will be solved in the open, collaboratively, with broad access to AI for every defender, everywhere."
Delangue added in a post on X that Hugging Face strongly believes there was no malicious intent on OpenAI's part and said it was "quite mind-blowing that all of this happened autonomously."
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FOX Business' Michael Sinkewicz and Reuters contributed to this report.
https://www.foxbusiness.com/technology/white-house-monitoring-after-openai-models-escaped-containment-hacked-hugging-face-systemsIBM CEO addresses Wall Street tech panic after delayed enterprise software deals surge backIBM CEO Arvind Krishna says one-third of delayed enterprise software deals have already returned, signaling that the company's second-quarter slowdown was temporary.
IBM CEO Arvind Krishna set the record straight over fears of a long-term tech slowdown, revealing that one-third of the major enterprise deals delayed during a rocky second quarter have since returned to the company.
Speaking on "The Claman Countdown," Krishna explained that a major semiconductor price increase forced enterprise clients to briefly divert spending toward physical servers.
While that spending shift hurt IBM’s upfront software sales, Krishna said artificial intelligence remains a major growth driver and that delayed deals are already coming back.
"One-third of all the deals that fell out of the second quarter have already come back. So, that gives us a signal, maybe not proof yet, but a signal that that was indeed just a deferral for a few weeks, not a destruction," Krishna said Thursday.
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The statement comes one day after IBM cut its full-year revenue growth forecast from over 5% down to 4% to 5%.
Earlier this month, IBM issued an earnings warning after prices for chip hardware spiked nearly 60%. The increase prompted many Fortune 100 companies to prioritize purchases of physical hardware, leaving less money for their software budgets. That led many clients to delay software purchases from IBM, contributing to a decline in the company's stock.
"When those are going up at 60% year over year, people are worried, and that's the classic inflation that if it's going to go up that much, I need to buy that now," Krishna said. "And, so, I redirect my CapEx to that side."
But Krishna said the slowdown was only temporary as companies took time to get through on their software orders. Still, he said the company is working to prevent this in the future by shifting its sales strategy.
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While 80% of IBM’s software revenue comes from subscription contracts, 20% comes from upfront purchases, which was what was hit by the client delays.
"We have to focus more on growing the 80 and not depend on the 20% growing fast," Krishna said.
He emphasized that the company is also doubling down on quantum technology, highlighting its recent acquisition of quantum research lab HRL Laboratories. He said the move positions IBM to lead a new market.
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"We think quantum is an incredibly important technology for national security but also for economic advantage," the IBM CEO said.
"So, now we're sort of increasing our total investment and increasing the different alternate technologies that we have inside our portfolio, which only then increases the chances that we are one of the winners and are quantified. I think I'm now going to up my estimate to where quantum by the end of the next decade is likely going to be a trillion-dollar impact on the industry."
https://www.foxbusiness.com/media/ibm-ceo-addresses-wall-street-tech-panic-after-delayed-enterprise-software-deals-surge-backSouthwest Airlines put Texas jet fuel on a boat to LA for the first time amid supply worriesSouthwest hired a ship this spring to send fuel from Houston to Los Angeles in case of supply shortages.{}
The Houthis Don’t Need to Close the Bab el-Mandeb Strait to Strangle the Suez Canal
UNITED NATIONS, July 24 (IPS) - With regional friction between Iran and the Gulf monarchies escalating, Houthi leadership in Yemen has proclaimed a total maritime blockade against all vessels linked to Saudi shipping. While this declaration does not constitute a verified military obstruction of the Bab el-Mandeb Strait, it significantly heightens the risk of volatility at the Red Sea’s southern gateway, potentially severing the primary arterial link to the Suez Canal.
https://www.globalissues.org/news/2026/07/24/43657 {"url":"https://static.globalissues.org/ips/2026/07/Satellite-image-of-the-Red-Sea_-100x100.jpg"}What Development Looks like in Myanmar Today
YANGON, Myanmar, July 24 (IPS) - When asked what development looks like today, a community leader in Kalaw township points to these fields. Once destroyed by a typhoon, they are now productive again. What began as emergency food assistance in the first month was followed by UNDP support in the community—seeds, training, debris removal, support to microbusinesses and small infrastructure—backed by the Republic of Korea, Norway and Switzerland. One year on, the fields sustain three annual production cycles—rice and flowers—with more resilient practices and higher yields. “This is what development looks like to us,” he says.
Read the full story, “What Development Looks like in Myanmar Today”, on globalissues.org →
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