How wealthy families can prepare for aging parents and avoid a succession crisisRelatively few wealthy families are addressing the question of when an aging parent should give up control, advisors and lawyers told CNBC.{}
Walmart hikes full-year outlook, says it will use huge tariff refund to keep prices lowWalmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy.{}
Walmart hikes full-year outlook, says it will use huge tariff refund to keep prices lowWalmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy.{}
Walmart hikes full-year outlook, says it will use huge tariff refund to keep prices lowWalmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy.{}
Walmart will report second-quarter earnings before the bell. Here's what to expectWalmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy.{}
College students can now pay tuition with PayPal or Venmo at some universitiesPayPal and Venmo tuition payments are launching at five major universities, but critics warn the digital wallets lack the security of traditional methods.
Some universities are now allowing students and their families to pay tuition through PayPal and Venmo.
Among the first institutions offering the payment options are Bellarmine University, Butler University, Kansas State University, Michigan State University and Texas Tech University, although more universities are expected to join later this year.
Students and families may face transaction or processing fees, with the amount depending on the university and the funding method used.
The payment options are being integrated through campus payment platforms including Illumia, Nelnet Campus Commerce and TouchNet, which process tuition payments for institutions across the country.
THE COLLEGES THAT GIVE GRADUATES THE STRONGEST CAREER EDGE, ACCORDING TO LINKEDIN
"A modern tuition payment experience has to work for both sides of the transaction," Don Smith, Illumia’s senior vice president and general manager of integrated payments, said in a statement.
"Students and families want the flexibility to use payment methods that fit how they manage their money, while institutions need those options to work within the systems and processes their teams already rely on. This integration helps schools expand choice in a practical way, improving the payer experience without creating a disconnected path for campus teams," Smith added.
PayPal and its Venmo subsidiary have aimed to further expand their presence in higher education over the last year, offering student-athletes the opportunity to receive institutional revenue-share payments through their platforms. Venmo also expanded its presence on college campuses through NIL partnerships with student athletes, college-branded cards, student ambassadors and gameday activations.
The digital payment systems are already used by many students and families for daily money transfers, including purchasing groceries, splitting rent and sending money to friends and family.
"Tuition is one of the biggest payments a family will make, and it should come with the same flexibility and security that millions of people already count on PayPal and Venmo for every day," Frank Keller, President of Checkout Solutions and PayPal, said in a statement. "That's why we're proud to bring that same choice and protection into the reliable systems schools have already built."
The companies said PayPal and Venmo use security measures including encryption and fraud monitoring. Consumer regulators, however, have cautioned that money stored in nonbank payment apps may not carry the same deposit-insurance protections as funds held directly in a federally insured bank or credit union.
HARVARD MAKES MASSIVE $2.2B SPACEX BET ON ELON MUSK'S ROCKET COMPANY
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Certain eligible PayPal and Venmo balances may qualify for pass-through FDIC insurance when funds are placed at PayPal's program banks, which currently include Goldman Sachs Bank USA, Wells Fargo Bank and JPMorgan Chase Bank. Not all PayPal or Venmo balances qualify for the coverage.
But FDIC pass-through insurance "protects against the failure of a Program Bank, not the failure of PayPal. PayPal is not a bank, does not take deposits and is not FDIC insured," PayPal said in a statement.
https://www.foxbusiness.com/economy/college-students-can-now-pay-tuition-paypal-venmo-some-universitiesDog food linked to nearly 200 reports of potential canine vision loss, prompting massive recallDog food subscription company Years has recalled nearly all of its fresh dog meals after 192 customers reported potential eye issues in their pets.
A fresh dog food company is recalling nearly all of its fresh meals after receiving 192 reports of potential eye problems in dogs, including a condition that can lead to vision loss if severe and untreated.
Years, a U.K.-based subscription service which says it has served roughly 40,000 customers this year, said it is investigating buckwheat as a possible contributing factor, including whether part of its buckwheat supply may have been contaminated.
The company said no causal link between its food, buckwheat and the reported eye problems has been established, and laboratory and toxicology testing is continuing.
As of Tuesday, 192 customers have reported potential eye issues, including sudden bilateral dry eye known as keratoconjunctivitis sicca (KCS). The condition causes dogs’ eyes to stop producing enough tears, leading to irritation, redness and discomfort.
FROZEN DOG FOOD RECALLED OVER SALMONELLA CONTAMINATION THAT LED TO MULTIPLE PET ILLNESSES
Tears lubricate and protect the surface of the eye. If left untreated, KCS can cause corneal ulcers, scarring and other damage that can potentially result in permanent vision loss.
The company said reports of eye issues in dogs began a few weeks ago.
"In late July, we began receiving multiple reports of dogs experiencing sudden, bilateral dry eye," Years said.
By Aug. 16, the company said it had identified 57 suspected cases, which it characterized as about 0.1% of roughly 40,000 customers served year-to-date.
Years said an independent veterinarian and specialist in small animal clinical nutrition initially advised on Aug. 1 that a link to the company's food appeared unlikely based on the information then available, while recommending further investigation.
POPULAR PET FOOD RECALLED OVER POSSIBLE SHARP METAL AND PLASTIC CONTAMINATION
Years said it decided to issue the recall as a proactive measure affecting all of its fresh meals except those in its Chef’s Collection, the ultra-premium, limited-edition tier of dog meals offered by the brand.
The decision was made following "rising case numbers, input from customer advocates and ophthalmologists and growing evidence around buckwheat."
Laboratory testing of the buckwheat supply is still ongoing. The company did not provide further details on how the buckwheat supply may be affecting dogs’ eyesight beyond the possibility of contamination.
Years said the affected fresh meal formulations contained 6.3% to 7.2% buckwheat, depending on the recipe.
KCS can have a number of causes in dogs, including immune-mediated disease, certain medications, infections, hereditary factors and trauma, meaning the reported condition alone does not establish a link to the food.
Customers’ subscriptions have been paused for an initial six-week period as the brand works to reformulate its recipes with quinoa in place of buckwheat. The company said it will also provide a thank-you gift with their next delivery for the inconvenience.
To help with the investigation, the company is also arranging a free collection of any unused meals.
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"Your help with our investigation would mean a great deal. We'll arrange a free collection of any unused meals and apply a full credit to your account for the order," Years said.
The company also urged dog owners who suspect their pets are experiencing eye issues to take them to the vet, stating that "early treatment makes a real difference."
https://www.foxbusiness.com/lifestyle/dog-food-linked-nearly-200-reports-potential-canine-vision-loss-prompting-massive-recallLARRY KUDLOW: Rising Bond Yields from Trumpian Growth, not Trumpian InflationThe 30-year Treasury bond yield is rising because of plenty of new economic statistics that show a faster, more powerful growth rate.
Please, folks, let’s not start panicking about long-term Treasury bond yields. In the last couple of weeks I’ve seen more ink spilled about the 30-year Treasury than I have in probably the last 10 years.
The bellwether Treasury is the 10-year, which has been trading steadily in a range of 4 percent to 5 percent and no one’s been screaming about that.
Yet here’s the key point. The 30-year Treasury bond yield has gone up about 35 basis points in recent weeks almost entirely because of plenty of new economic statistics that show a faster, more powerful growth rate — especially in manufacturing and construction, along with advanced technologies.
It’s not about inflation. Yet the news headlines have been screaming inflation with no good analysis because they just love to keep whacking away at President Trump.
Take a look at any of the Treasury rate increases, however, and you will see it’s all from the real yield, not the inflation component.
The inflation component, which is the CPI breakeven compensation for inflation, hasn’t gone up all year. On the 30-year CPI breakeven, the expected inflation component has hovered just above 2.0 percent all year to date.
Another example, the market rate for 10-year Treasuries has increased about 50 basis points so far this year.
And virtually all of it is from an increase in the real yield from Treasury Inflation-Protected Securities of 50 basis points. The expected inflation rate from the breakevens has increased by less than 5 basis points.
The consumer price index break-even component that implies inflation has basically been flat. The same is true for the 30-year Treasury bond.
What is happening however, is that market rates have been driven up by stronger 4 percent-type economic growth and are normalizing after all those 0-type rates from the financial crisis and Covid and very bad Federal Reserve policy that Kevin Warsh is going to fix.
Actually, for context, a 4 percent-plus Treasury yield is more like the President Clinton/Speaker Newt Gingrich days of strong growth from lower capital gains taxes and welfare reform.
The economy was booming then. The Treasury rate’s around 6 percent. So right now, we’re just normalizing. And there is an enormous boom. Mr. Trump today at the White House spoke of the boom from one big beautiful bill:
"We’ve gained so much in the last 16 months like nobody can believe, actually. And not only that, but we have more money being invested in the United States than any country at any time in history. Money is coming in by the trillions."
He added that "our nation’s economic dominance drives trillions of dollars in investments, creates millions of jobs, and expands access, credit and capital so that every citizen has a chance to achieve what we now hear a lot about the American dream."
The American dream is alive and well. So I’ll just put a cap on this by saying, first of all, ignore the headlines. Second of all, interest rates in the bond market are not exploding.
And what increase there has been is because of a stronger than expected economy. And we are normalizing. And there’s nothing to panic over, even though the press loves to whack away at Mr. Trump on almost every topic under the sun.
https://www.foxbusiness.com/politics/larry-kudlow-rising-bond-yields-from-trumpian-growth-not-trumpian-inflationFrozen fruit bars recalled nationwide over possible glass contaminationDreyer’s Grand Ice Cream is recalling select Outshine fruit bars sold nationwide after consumers reported finding glass in the products.
Consumers are being urged to check their freezers after several varieties of Outshine fruit bars sold nationwide were recalled due to possible glass contamination.
Dreyer’s Grand Ice Cream is voluntarily recalling select batches of Outshine fruit bars sold in six-count packages and 24-count Variety Packs, according to an Aug. 18 announcement from the Food and Drug Administration (FDA).
The recall was issued after consumers reported finding glass in the products, the announcement noted.
"Dreyer’s is taking this action out of an abundance of caution following consumer reports of glass found in the product," the company said.
FROZEN DOG FOOD RECALLED OVER SALMONELLA CONTAMINATION THAT LED TO MULTIPLE PET ILLNESSES
No illnesses or injuries have been reported, according to Dreyer’s.
The affected products were distributed to retailers nationwide.
Consumers are urged to check the UPC, batch code and best-before date on the packaging to determine whether their fruit bars are included in the recall.
WALMART TOMATO BISQUE SOUP RECALLED OVER POSSIBLE LISTERIA CONTAMINATION
The recalled products include certain batches of:
A complete list of affected batch codes, UPCs and best-before dates can be viewed on the FDA's website.
POPULAR REESE'S, ALMOND JOY ICE CREAM BARS RECALLED OVER LABELING ERROR
No other Outshine products or varieties are affected, according to the company.
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Anyone who purchased an affected product should throw it away or return it to the place of purchase for a full refund.
FOX Business reached out to Dreyer's for comment.
https://www.foxbusiness.com/lifestyle/frozen-fruit-bars-recalled-nationwide-over-possible-glass-contaminationMajor casino operator discloses ‘substantial doubt’ over future as debt pressures mountBally's raised substantial doubt about its ability to continue as a going concern, citing its debt burden and pursuing financing alternatives.
Casino and resort operator Bally's issued a warning that it may struggle to keep up with its debt burden over the next year, and there is "substantial doubt" about its ability to remain a going concern.
The company made the disclosure in its second quarter earnings report filed with the Securities and Exchange Commission (SEC).
In the filing, Bally's said the company is "pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale, and debt financings."
"While the company is actively engaged in discussions on several financing alternatives, the conditions and events raise substantial doubt about the company's ability to continue as a going concern," Bally's said in the filing.
FANATICS EXPANDS FURTHER INTO SPORTS AND BEYOND WITH FANATICS MARKETS PREDICTION TRADING PLATFORM
The company said it executed a term sheet in July for a loan that would fund the continued development of the Bally's Bronx project and other corporate purposes, though the term sheet is non-binding, and the two sides are working toward a binding agreement.
"These plans have not been finalized, are subject to market conditions and the actions of third parties, are not within the company's control and there can be no assurance that the plans will be successfully implemented," Bally's explained, adding that those plans don't alleviate substantial doubt about its ability to remain a going concern.
Companies are required to include a going concern warning in its financial filings when auditors see that the company faces the risk of failing or being forced into bankruptcy within the next year.
Bally's filing noted several factors that may influence its outlook and performance, including unexpected costs from its construction projects, risks from rapid growth, the impact of digitization of gaming on casino operators and the company's expansion into digital gaming, as well as regulatory compliance costs and other matters.
As of the end of June, Bally's owned and operated 20 casinos globally, including some in the United Kingdom and in 11 U.S. states, as well as a golf course in New York and horse racetracks in Colorado and Wyoming.
It also operates the Bally Bet Sportsbook & Casino, an iCasino and sportsbook licensed in 14 North American jurisdictions, and it holds a majority interest in Bally's Intralot.
TROPICANA LAS VEGAS CEASING OPERATIONS THIS SPRING TO MAKE WAY FOR NEW BALLPARK
The company has rights to developable land in Las Vegas at the former site of the Tropicana Las Vegas and has a license to build a full-scale casino and resort in The Bronx, New York.
It's also developing Bally's Chicago, an integrated resort in the Windy City, though it recently paused construction on some portions of the project amid the uncertainty.
Shares in Bally's stock have declined over 35.9% over the past five trading days since the warning.
The company's stock is down just 4.9% over the last year, but has fallen more than 46.8% since the start of 2026.
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Bally's shares are down 0.79% during Wednesday's trading session.
https://www.foxbusiness.com/markets/major-casino-operator-discloses-substantial-doubt-over-future-debt-pressures-mountUS national debt hits $40 trillion milestone for first time everThe U.S. national debt topped $40 trillion as interest costs now exceed national defense spending and the debt doubled in under 10 years.
The U.S. national debt crossed another historic milestone on Wednesday as it topped $40 trillion for the first time in history amid persistent federal budget deficits that are causing the debt to soar higher.
Data from the Treasury Department released on Wednesday showed that the gross national debt reached $40,047,425,768,420.22 as of Aug. 18.
The $40 trillion milestone comes after the federal government's debt burden crossed the $39 trillion threshold about five months ago in March, which closely followed the $38 trillion mark being crossed in October 2025.
America's national debt is growing rapidly due to surging interest costs, which are rising because of a larger debt burden and higher interest rates, as well as growth in federal spending on Social Security and Medicare amid the aging of the U.S. population.
FEDERAL BUDGET DEFICIT ON TRACK TO SURPASS $2T THIS FISCAL YEAR AS SPENDING OUTPACES REVENUE
A March estimate by the nonpartisan Congressional Budget Office (CBO) estimated that the gross national debt will rise to $63 trillion in 2036, with annual budget deficits widening from about $2.1 trillion, the agency's estimate for the current fiscal year, to $3.1 trillion a year a decade from now.
The gross national debt topping $40 trillion follows another recent debt milestone that puts the burden in context relative to the size of the U.S. economy.
The debt held by the public, a measure economists prefer to use in comparing a nation's debt to the size of its economy, reached $31.27 trillion in late March and topped the $31.22 trillion in gross domestic product (GDP) – marking the first time in about 80 years the public debt was larger than the economy.
Debt held by the public is projected to break the record of 106% of GDP that was set in 1946, when the U.S. was in the process of demobilization after the war ended, in the next few years, before rising to an estimated 120% of GDP in 2036, per the CBO's estimate.
US NATIONAL DEBT SURPASSES SIZE OF THE ECONOMY FOR FIRST TIME SINCE WORLD WAR II
Michael A. Peterson, CEO of the Peter G. Peterson Foundation, told FOX Business, "For the millions concerned about affordability, let's start by asking Washington to take notice that the national debt just hit $40 trillion," adding that the debt has doubled in under 10 years and that "we must change course."
"The more debt we take on, the more interest costs we have to bear, which now even exceed the cost of national defense. And every trillion we add to our debt contributes to higher interest rates and inflation, increasing the mortgages, car loans and credit card bills of all Americans," he said.
"At the same time, debt harms economic growth, slowing wage increases while the cost of living continues to rise."
US DEBT SET TO CRUSH WORLD WAR II RECORD AS ANNUAL DEFICITS EXPLODE TO $3T WITHIN DECADE
The CBO's budget outlook from this spring noted that the debt held by the public is projected to grow faster than the U.S. GDP in the years ahead, which could slow economic growth and reduce private investment, while causing interest costs to rise further.
CBO warned that would also increase the risk of a fiscal crisis, in which investors lose confidence in the value of the U.S. government's debt, as that could cause interest rates to rise abruptly and cause other economic and financial disruptions.
For example, those dynamics could increase inflation expectations that may, in turn, degrade the dollar's status as the dominant international reserve currency.
"The only good thing about our fiscal challenge is that there are many available solutions, and the budget is entirely within our control," Peterson said, noting that U.S. adversaries like China, Russia and Iran likely enjoy seeing the country devalue its economic future.
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"If we want to improve our living standards, today and for the next generation, now is the time for lawmakers to put our nation on a more affordable and sustainable path," he added.
https://www.foxbusiness.com/economy/us-national-debt-hits-40-trillion-milestone-first-time-everWalmart will report second-quarter earnings before the bell. Here's what to expectWalmart is expected to report its fiscal second-quarter earnings on Thursday, offering a read on the consumer and the K-shaped economy.{}
Hyundai's new flagship vehicle is a large luxury Genesis EVThe GV90 features a new design direction for Genesis and expands the Hyundai brand's lineup to seven vehicles in the U.S.{}
State Farm customers are getting a historic $5B payout: Here’s who qualifiesState Farm is returning a record $5 billion to eligible auto customers nationwide, with payments rolling out in waves over several months.
State Farm Mutual Automobile Insurance recently began distributing a record $5 billion dividend to qualifying auto insurance customers, marking the largest payout of its kind in the company's more than 100-year history.
Millions of customers have already received payments, with additional distributions on the way, State Farm said in a July 31 news release.
The dividend is being paid to eligible customers covering more than 49 million State Farm Mutual auto vehicles nationwide.
"Because the distribution covers more than 49 million auto vehicles, the payment process will take several months to be completed nationwide," the company said.
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Each customer's payment is calculated as a percentage of the premium paid for each qualifying policy in 2025.
The percentage varies by state and ranges from 4% to 10%, according to State Farm.
State Farm previously told USA Today that customers who had an active personal auto insurance policy in 2025 are eligible for the payment.
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The company said qualifying customers will be notified about a pending payment either by email or through a letter in the mail.
Customers with an email address on file will get instructions to choose how they want to be paid.
Those without an email address on file will receive a check by mail.
The insurer did not specify an exact date for when the payments would be completed.
OBAMACARE EXCHANGE FLAW EXPOSED AMERICANS TO UNEXPECTED HEALTH PLAN SWITCHES, WATCHDOG FINDS
State Farm initially unveiled plans for the $5 billion dividend in February.
"This dividend is possible due to State Farm Mutual’s financial strength and a stronger than expected underwriting performance, which has been reported industry wide," State Farm said at the time.
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FOX Business reached out to State Farm for comment.
https://www.foxbusiness.com/lifestyle/state-farm-customers-getting-historic-5b-payout-heres-who-qualifiesMovie theater group reverses course, urges California AG to settle $110B Paramount-Warner Bros lawsuitCinema United reversed its stance on Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery, urging settlement talks with Rob Bonta.
Cinema United President and CEO Michael O'Leary and board Chair Mike Bowers reversed the movie theater trade group's position Tuesday in California's federal antitrust fight over Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery.
They urged Attorney General Rob Bonta and Paramount CEO David Ellison to negotiate because they said prolonged uncertainty threatened box-office momentum and the entertainment industry.
O’Leary and Bowers said the industry’s recovery depended on the two sides discussing a resolution with protections for theaters and moviegoers.
"For many in our industry, the current environment is marked by disruption and uncertainty. That is why we believe that it is incumbent upon both of you to meet in good faith to discuss a resolution that would provide robust protections and serve the entire industry. In fact, it is the next logical step," O’Leary and Bowers said.
Cinema United explained its reversal in a statement to Fox News Digital Wednesday, saying concerns about consolidation remained, but settlement talks represented the next opportunity to secure protections for theaters.
"Despite our legitimate concerns about industry consolidation, Cinema United, on behalf of our executive board and the entire exhibition community, yesterday called for the AGs and Paramount to meet and discuss (a) settlement," a Cinema United spokesperson said.
"Since the outset, we have been open to steps that will protect the exhibition industry. This is the next step in that process to ensure a thriving industry for generations to come."
California Republican Party Chairwoman Corrin Rankin told Fox News Digital Wednesday that Bonta should enter negotiations, accusing Democrats of using lawsuits and regulations that increased costs and drove businesses from the state.
"Democrats keep writing the same bad script, and Californians are stuck paying the price in higher rent, gas and grocery bills. Their endless politically-motivated lawsuits, taxes and red tape drive jobs and opportunity out of California while making life harder for the families and businesses who stay," Rankin said.
Bonta told reporters Tuesday that his office welcomed theater owners’ views but maintained that the proposed transaction violated the law, according to Reuters.
"The fact remains that this proposed merger breaks the law. It will lead to job loss. It will lead to wage cuts. It will lead to higher prices for consumers to go to the movies or to watch cable television," Bonta said.
Paramount had taken the opposite position in a July statement to Fox News Digital, blaming the state challenge for prolonging the industry’s difficulties.
"Delaying this transaction will only harm entertainment workers who have already suffered over recent years as technology has disrupted their livelihood and cost California tens of thousands of entertainment jobs," a Paramount spokesperson said.
Republican attorney general nominee Michael Gates responded to Cinema United’s call for negotiations by criticizing Bonta’s lawsuit and warning that continued litigation could threaten California entertainment jobs.
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"Bonta should accept Cinema United’s invitation and come to his senses. Frankly, Bonta should drop the lawsuit all together," Gates said in a statement to Fox News Digital.
Bonta's office told Fox News Digital the office had previously investigated potential Warner Bros. purchases by either Netflix or Paramount.
"The lawsuit against Paramount resulted from clear-cut antitrust analysis, based on the facts and the law," Bonta’s press office said.
CLICK HERE FOR MORE COVERAGE OF MEDIA AND CULTURE
Cinema United said it represented 30,000 U.S. movie screens and had previously supported the coalition of 12 states seeking to block the acquisition. The group requested enforceable safeguards requiring Paramount to maintain or expand wide theatrical releases and exclusive theater windows, prevent higher film rental terms, preserve theaters' ability to book titles without onerous conditions and guarantee continued access to both companies' film catalogs.
The reversal came as domestic box-office receipts had reached $6.8 billion as of Wednesday, nearly 20% above the same period in 2025. Cinemark also joined AMC Theatres and Regal Cinemas in supporting an expedited resolution, while the Directors Guild of America and IATSE had urged Bonta and Ellison to negotiate or advance the trial.
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The antitrust trial is scheduled to begin March 2, 2027. Paramount asked a federal judge Monday to require the states and the Writers Guild of America to post a $1.88 billion bond, saying it faced a $7 million daily fee after Sept. 30.
https://www.foxbusiness.com/media/movie-theater-group-reverses-course-urges-california-ag-settle-110b-paramount-warner-bros-lawsuitLowe's gives muted outlook as it sees 'pressure' in home improvement spendingLowe's reported mixed quarterly results as the retailer said it continued to see pressure in home improvement spending.{}
Target says its turnaround is picking up steam, with help from a big tariff refundTarget posted better-than-expected fiscal second-quarter sales and raised its full-year outlook.{}
Car insurance costs are rising again, and drivers in over 30 states could pay moreCar insurance premiums rose 1% in early 2026, and 32 states are expected to see increases by year's end as repair costs and weather drive claims higher.
Car insurance costs trended higher in the first half of this year after declining in 2025, and a new report projects increases in over 30 states this year.
An analysis by Insurify found car insurance premiums fell 6% last year, with drivers in 39 states seeing a decline in average full-coverage premiums. However, in the first half of 2026, the average cost of full-coverage premiums rose 1% to $2,237, with 27 states having seen cost increases to date and 32 states expected to see increases by year's end.
"Unfortunately, this year, a majority of the states are trending up," Insurify CEO Snejina Zacharia told FOX Business in an exclusive interview. "The severity of weather conditions and the severity of accidents have continued to be very strong.
"On top of that, we have seen a 45% increase in repair costs. Repair costs are a major driver of costs in the claims and claims history for the insurance industry, so carriers are adjusting that on a state-by-state level."
TARIFFS ON THE AUTO INDUSTRY COULD TAKE A HIT ON CAR INSURANCE RATES
She added that the trend of higher repair costs began several years ago with the COVID pandemic and chip shortages, which have continued to rise amid the impact of inflation across the economy and tariffs on auto parts.
Zacharia said some of the sharpest increases this year have been in states that historically have relatively low costs.
Among those lower-cost states noted in Insurify's report was West Virginia, which saw a 5% increase in the first half of the year, while drivers in Kentucky went from paying $58 below the national average to $65 above the national average.
Both Kentucky and West Virginia are expected to see rates rise 8% year over year, according to the projection for the end of 2026.
CAR INSURANCE RATES SOARED IN 2024; DRIVERS IN THESE STATES PAY THE MOST
"The sharpest increase that we predict will be in the state of Connecticut, a small state where the state is expected to get a 15% year-over-year increase in its car insurance. Just looking back five years, the state of Connecticut has increased rates 67%, and the majority of the states unfortunately have seen dramatic increases across the board," she explained.
Some parts of the country saw rates decline in the first half of the year, such as Washington, D.C., which was down 7% and is projected to end 2026 down 5% on a net basis from a year ago. Though it still has the nation's highest average premiums at an average full-coverage cost of $3,955. The decline in auto thefts and fatal crashes contributed to the decrease.
New Mexico's premiums were down 6% in the first half of the year, and that trend is expected to continue through the end of the year, finishing down 8% at a projected cost of $1,587.
New York and New Jersey were each down 5% in the first half of the year and are projected to finish 2026 down 4% year over year with total costs around $2,900 each.
AMERICANS' INSURANCE RATES ARE SOARING AND LAWSUITS PLAY A SIGNIFICANT ROLE
Zacharia said some strategies consumers can use to obtain a lower insurance premium include increasing a deductible or making other changes to coverage within their policy.
"For example, if your vehicle is so old that the cost to insure it is almost more expensive than the cost to replace the vehicle, you probably don't need comprehensive and collision insurance because you will be paying almost as much year over year as your total vehicle cost," she explained.
"Also, every carrier will have different discounts for the customer, and this is another reason why it's important to shop. People often think that just because they've been with a carrier for 10, 15 years, that they're getting a loyalty discount," Zacharia said.
"Rates have been all over the place for so many of the customers across the board that you will never know how much is your fair rate or what is your best deal on your car insurance unless you have given yourself the ability to make that comparison apples-to-apples across top providers and some regional ones."
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Zacharia said Insurify's platform collects available discounts from 120 auto insurance carriers and can provide unique rates specific for individual customers.
https://www.foxbusiness.com/economy/car-insurance-costs-rising-again-drivers-over-30-states-could-pay-moreAmazon plans massive expansion of Prime Air drone deliveriesAmazon is targeting nearly 500 U.S. cities and towns for Prime Air by year-end as Walmart, DoorDash and Uber expand their own drone delivery efforts.
Amazon is preparing a roughly sixfold expansion of its Prime Air drone delivery network, targeting nearly 500 U.S. cities and towns by the end of 2026 as retailers and delivery companies race to make last-mile shipping faster and cheaper.
The rollout would dramatically widen Prime Air's footprint from 11 current delivery sites across 10 metro areas and give Amazon a larger test of whether autonomous aircraft can become a meaningful part of its logistics network.
Amazon plans to expand next into the Chicago, Atlanta, Cleveland, Syracuse and Boise metropolitan areas, with additional communities expected later this year.
AMAZON’S 30-MINUTE DELIVERY PUSH RAISES STAKES IN RACE FOR SPEED
The push comes as rivals make their own moves into drone delivery. Walmart has expanded service through partners, including Alphabet-owned Wing and Zipline, while DoorDash recently received federal approval to operate its own commercial drone delivery network. Uber this week also announced a partnership with Zipline.
Amazon says Prime Air has already delivered hundreds of thousands of packages this year.
"Customers already turn to Amazon for fast Same- and Next-Day Delivery, and Prime Air provides them an even speedier option when they need it," Prime Air Vice President David Carbon said.
Prime Air can carry most packages weighing 5 pounds or less and roughly the size of a large shoebox, making more than 60% of the products customers purchase most frequently eligible for drone delivery. Orders can arrive in as little as 30 minutes, though Amazon says most reach customers about an hour after checkout.
AMAZON DISRUPTING ITSELF, REBUILDING CUSTOMER SHOPPING EXPERIENCE AROUND AI FROM GROUND UP
Prime members receive free drone delivery on orders of $50 or more and pay $2.99 on smaller orders, while non-Prime customers pay $4.99.
The expansion adds another front to Amazon's broader effort to shrink delivery times as retailers increasingly compete over speed and convenience.
Drone delivery, however, remains a small part of the broader delivery market and faces challenges ranging from federal aviation requirements and weather to noise, safety and the economics of competing with traditional vans and drivers.
AMAZON LAUNCHES 1-HOUR AND 3-HOUR DELIVERY OPTIONS WITH NEW TIERED PRICING STRUCTURE FOR CUSTOMERS
Amazon holds Federal Aviation Administration Part 135 certification for Prime Air and says its drones use an autonomous "detect-and-avoid" system to monitor surrounding airspace and identify obstacles without requiring a person to watch a live video feed.
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For Amazon, the expansion will test whether drone delivery can move from a limited service into a practical, scalable piece of its last-mile network.
https://www.foxbusiness.com/fox-news-tech/amazon-prime-air-drone-delivery-expansionUN Reiterates its 18-Year-Old Ban on Smoking
UNITED NATIONS, August 19 (IPS) - When smoking was common in the corridors of the UN, in the delegate’s lounge and in committee rooms during the 1970s and 90s, the office of the Secretary-General sent a memo that read: “Smoking was Discouraged” in the UN building—sounding far short of a ban.
Read the full story, “UN Reiterates its 18-Year-Old Ban on Smoking”, on globalissues.org →
https://www.globalissues.org/news/2026/08/19/43852 {"url":"https://static.globalissues.org/ips/2026/08/A-smoke-free_-100x100.jpg"}GAZA: ‘There Are No Standards to Tell You What to Do in Conditions like Gaza’
CIVICUS discusses the state of civic and humanitarian action in Gaza with Ibrahim Arandas, a Palestinian activist and project manager at SPARK Gaza, a civil society organisation that provides humanitarian and psychosocial support.
https://www.globalissues.org/news/2026/08/19/43851 {"url":"https://static.globalissues.org/ips/2026/08/Ibrahim-Arandas-100x100.jpg"}Target says its turnaround is picking up steam, with help from a big tariff refundTarget posted better-than-expected fiscal second-quarter sales and raised its full-year outlook.{}
Lowe's gives muted outlook as it sees 'pressure' in home improvement spendingLowe's reported mixed quarterly results as the retailer said it continued to see pressure in home improvement spending.{}
Target hikes outlook as sales rebound and huge tariff refund boosts bottom lineTarget posted better-than-expected fiscal second-quarter sales and raised its full-year outlook.{}
Target hikes outlook as sales rebound and huge tariff refund boosts bottom lineTarget posted better-than-expected second-quarter sales and raised its full-year outlook.{}
Lowe's gives muted outlook as it sees 'pressure' in home improvement spendingLowe's reported mixed results as the retailer said it continued to see pressure in home improvement spending.{}
Target hikes outlook as sales rebound and huge tariff refund boosts bottom lineTarget posted better-than-expected second-quarter sales and raised its full-year outlook.{}
Lowe's gives muted outlook as it sees 'pressure' in home improvement spendingLowe's reported mixed results as the retailer said it continued to see pressure in home improvement spending.{}
Texas cities dominate America's best housing markets as coastal powerhouses fall behind: reportSun Belt cities like Frisco and McKinney, Texas, top the 2026 best real estate markets ranking while costly coastal metros struggle with affordability and economic health.
The American dream of owning a home may be getting harder to achieve in some of the country's biggest cities, but new data suggests it remains alive and well in parts of Texas and the Sun Belt.
According to WalletHub’s 2026 Best Real Estate Markets report released Wednesday, Frisco, Texas, took the top spot and was followed by neighboring McKinney, Texas. Murfreesboro, Tennessee; Durham, North Carolina; and Denton, Texas, rounded out the top five.
Other Top 10 contenders include Cary, North Carolina; Madison, Wisconsin; Allen, Texas; Charlotte, North Carolina and Irvine, California.
"Texas and other Sun Belt markets dominate the top of the ranking, highlighting the combination of housing-market strength and helpful economic conditions found in many of these cities," WalletHub writer and analyst Chip Lupo told Fox News Digital. "These markets tend to perform well across factors such as home-price appreciation, new housing construction, building-permit activity, affordability and job growth."
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"Nearly 47% of the housing units in Frisco, the No. 1 market overall, were built between 2010 and 2024 … McKinney, ranked No. 2, has a 40% new-home rate, the 10th-highest building-permit activity and one of the best job growth rates," Lupo said.
"By comparison, many large coastal markets rank considerably lower overall, including New York at No. 231, Los Angeles at No. 237 and San Francisco at No. 273. Their relatively weak rankings reflect a combination of housing-market challenges and poor affordability and economic-environment scores," he continued.
The study weighs underlying housing-market health and market trajectory more heavily than affordability alone in ranking the 300 U.S. cities, with cities needing a combination of healthy housing fundamentals and economic conditions that could support homeowners over the longer term to rank highly.
"Taxes are certainly part of the equation, but the ranking points more broadly to the combination of housing conditions and economic strength rather than taxes alone," Lupo said.
"By contrast, major coastal markets rank far lower. Those markets may offer high incomes and economic opportunity, but their housing costs can make it much harder for residents to translate those opportunities into homeownership. The biggest, most popular cities are on everyone's radar," he said, "so their housing markets have been competitive for a long time, and they continue to be. The entry point is therefore more expensive, and there might not be as much room for growth."
"The contrast with expensive coastal cities is less about simply building more homes and more about whether housing supply can keep pace with demand. When new construction consistently falls behind population and job growth, affordability pressures become much harder to overcome," Lupo said.
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New Orleans ranked last in the report, followed by Baltimore. Lupo said this is a "warning sign" that goes beyond home prices.
"Homeowners shouldn’t assume further deterioration is inevitable, but these rankings are a reason to be cautious," he said. "Markets with weak housing fundamentals can experience slower home-price growth, weaker market activity and greater difficulty attracting buyers, which can make it harder for homeowners to build equity or sell quickly."
https://www.foxbusiness.com/real-estate/texas-cities-dominate-americas-best-housing-markets-coastal-powerhouses-fall-behind-reportTarget is set to report earnings before the bell. Here's what to expectTarget is expected to report its fiscal second-quarter results Wednesday morning as the retailer offers a window into its turnaround progress.{}
Frozen dog food recalled over salmonella contamination that led to multiple pet illnessesOma's Pride recalled more than 600 bags of frozen dog food distributed to 11 states after a Food and Drug Administration inspection revealed salmonella contamination.
More than 600 bags of frozen dog food are facing a recall after FDA testing prompted by a consumer complaint found salmonella contamination.
Connecticut-based Oma’s Pride issued a recall for one lot of Woof Complete Canine Chicken Recipe, the company announced on Monday.
A total of 639 bags are affected by the recall effort. The impacted products have a manufacturing date of Jan 27, 2026, and a best-by date of Jan. 27, 2029. The recalled product is a raw dog food sold in a six-pound gusseted stand-up pouch containing 12 individually-wrapped, eight-ounce vacuum-sealed portions.
The recalled lot of dog food was distributed to retailers and wholesalers in 11 states: Arizona, California, Indiana, Kentucky, Louisiana, Maryland, Nevada, New Jersey, New York, Pennsylvania and Virginia, as well as directly to consumers through online orders. The products were distributed between Feb. 12 and May 15 of this year.
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Oma’s Pride ships its products to consumers across 48 states, with the exception of Alaska and Hawaii.
The recall was initiated after the FDA received a consumer complaint. The agency then collected and analyzed a sample of the product, which tested positive for salmonella.
Oma's Pride said it is continuing an investigation to determine the source and root cause of the contamination.
Three illnesses in dogs have been reported in connection with the dog food. No human illnesses have been reported.
Salmonella can affect animals eating the dog food, the company said, adding that there is risk to people from handling contaminated pet products, especially if they have not thoroughly washed their hands after touching the food or any surfaces exposed to it.
Pets with salmonella infections may be lethargic and have diarrhea, fever and vomiting. Some pets may only have decreased appetite, fever and abdominal pain. Infected but otherwise healthy pets can be carriers and infect other animals or people.
Owners with pets who have consumed the recalled product and are showing these symptoms are urged to contact a veterinarian.
Healthy people infected with salmonella are advised to monitor themselves for symptoms, including nausea, vomiting, diarrhea, abdominal cramping and fever. Salmonella can cause additional ailments such as arterial infections, endocarditis, arthritis, muscle pain, eye irritation and urinary tract symptoms.
People showing these signs after having contact with the recalled dog food should contact a healthcare provider.
POPULAR PET FOOD RECALLED OVER POSSIBLE SHARP METAL AND PLASTIC CONTAMINATION
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Consumers who purchased the affected dog food are instructed to stop feeding it to their pets immediately, safely dispose of it and contact Oma's Pride for a refund.
They should also wash and sanitize pet food bowls, cups and storage containers.
"Oma’s Pride is conducting further investigation to better understand this finding," the company said. "The health and safety of pets and the people who care for them is our highest priority. We are proud of the food we make, and we remain committed to producing high-quality, biologically appropriate pet food. We will continue to update our customers as more information becomes available."
https://www.foxbusiness.com/economy/frozen-dog-food-recalled-over-salmonella-contamination-led-multiple-pet-illnessesSteak 'n Shake launches Protein Steakburger with grass-fed beef in latest MAHA-inspired moveSteak 'n Shake's new Protein Steakburger features 100% grass-fed beef with lettuce instead of a bun, packing 31 grams of protein and just 6 carbs.
Steak 'n Shake, the fast-food chain embracing Health and Human Services Secretary Robert F. Kennedy Jr.'s Make America Healthy Again (MAHA) movement, announced that it will launch a new "Protein Steakburger" next month.
The restaurant chain unveiled the Protein Steakburger, along with a Double Steakburger Double Cheese, with both menu items set to launch Sept. 1.
"Real ingredients. Real food. The Protein Steakburger consists of two 100% grass-fed, grass-finished Steakburgers," the company wrote. "It's the perfect meal after a hard workout."
The announcement comes amid Steak 'n Shake's broader push toward what the company has described as simpler and more transparent ingredients.
STEAK ’N SHAKE SHAKES UP POPULAR 'PATRIOT MILKSHAKE' WITH NEW, EDIBLE TWIST AVAILABLE ONLY IN 2026
Steak 'n Shake said the Protein Steakburger contains 530 calories, 31 grams of protein and 6 grams of carbohydrates. The Double Steakburger Double Cheese contains 690 calories, 31 grams of protein and 38 grams of carbohydrates.
Images released by the company show the Protein Steakburger served with lettuce in place of a traditional bun, while the Double Steakburger Double Cheese is served on a traditional bun.
In a previous social media post, Steak 'n Shake said it was embracing "MAHA principles" as it embarked on a "mission to change the landscape of fast food with healthier options."
"We are the only national chain offering 100% grass-fed, grass-finished beef and 100% beef tallow fries," the company wrote. "It is not only better tasting but also better for you!"
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The new burgers come months after Steak 'n Shake tapped Michael Boes in April as its first-ever chief MAHA officer, an executive role the company said is "dedicated to advancing nutritional integrity, ingredient transparency and the healthiness of our products."
Boes, who previously served as a senior advisor at HHS, said at the time that fast food does not have to mean processed or artificial menus, but rather "real, simple and delicious" food.
Steak 'n Shake framed the hire as part of a broader effort to return to its roots.
"The move marks a major step in the company's efforts to restore the original spirit of American fast food: food that is simple, real and delicious," the company said.
The move also received praise from President Donald Trump, who shared the company's post and wrote: "Awesome."
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Boes discussed Steak 'n Shake's embrace of the MAHA movement during an interview with Fox News last month, arguing that consumers increasingly want more natural ingredients.
"The reality is people want this," Boes said. "It's this ode to what the food environment was 50, 60 years ago, what my grandfather, my parents enjoyed. I think people want that. No one ever demanded these chemicals and highly processed seed oils. It was never implemented due to taste. It was profits. And we wanted to put a stake in the ground on being an American company and delivering the best food for Americans."
The new menu items also drew praise from some social media users.
"Amazing option!" one user wrote. "I told my oldest two (now at college) if they get hungry and opt for fast food, head to a Steak 'n Shake since you use tallow and grass-fed beef. Appreciate your fast-food new healthy ingredients and menu."
In recent months, Steak 'n Shake has switched to cooking fries, tater tots and other fried items in 100% beef tallow, eliminating seed oils from those products. The chain has also moved to 100% Wisconsin butter in certain applications, offered Coca-Cola made with cane sugar as an alternative to high-fructose corn syrup and introduced A2 milk products.
FOX Business has reached out to Steak 'n Shake for additional information.
Fox News Digital's Deirdre Bardolf contributed to this report.
https://www.foxbusiness.com/lifestyle/steak-n-shake-launches-protein-steakburger-grass-fed-beef-latest-maha-inspired-moveTrump pauses 50% tariffs on Canada hours before deadline after announcing potential dealPresident Donald Trump paused 50% tariffs on Canadian imports hours before they took effect, saying a deal with Canada is pending finalization.
President Donald Trump said late Tuesday that he is pausing 50% tariffs on Canadian goods scheduled to take effect Wednesday, saying the two countries have reached a deal pending final documentation.
"I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on Truth Social.
"The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!" Trump added.
Trump's announcement came just hours before the tariffs were scheduled to take effect for a three-day period under the Tariff Act of 1930.
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The duties would have covered roughly $20 billion in Canadian imports, including liquor, dairy products, vehicles, hockey equipment and other goods. Certain food products, wearables, synthetic materials and industrial goods were also expected to be affected.
Trump spoke with Canadian Prime Minister Mark Carney on Monday night and reportedly spoke with him again Tuesday afternoon, according to FOX Business correspondent Edward Lawrence.
FOX Business reached out to the White House for comment.
The Office of the United States Trade Representative offered additional details about the agreement, saying it would address market access, economic security and digital trade.
"Congratulations Mr. President. The deal will include comprehensive market access for all American goods, economic security commitments, digital trade alignment, and many important provisions that will continue to protect our market and American workers, along with our Canadian partners," the office said in a statement.
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In a statement Tuesday night, Carney said the two countries have been engaged in "intensive discussions" to resolve outstanding trade issues and have made "substantial progress."
"Over the last number of weeks, Canada has engaged in intensive discussions with the United States to address outstanding trade issues and deliver greater certainty and real benefits for Canadian businesses, workers, farmers and families," Carney said.
"Substantial progress has been made, although there is important work still to be done," he continued. "As this work is ongoing, the United States has agreed to postpone the implementation of its 50% tariff on a range of Canadian goods under Section 338 of the U.S. Tariff Act of 1930 until end of day, August 21."
"While we continue this work, Canada remains focused on building a stronger, more independent, and more competitive economy at home," Carney added.
The Trump administration announced the proposed tariffs on certain Canadian imports in June, citing what officials described as trade "discrimination" against American businesses.
TRUMP ADMINISTRATION UNVEILS NEW TARIFFS ON 60 TRADING PARTNERS AS TEMPORARY DUTIES EXPIRE
According to presidential proclamations, Canada has maintained a 25% tariff regime since April 9, 2025, targeting American-made motor vehicles and parts.
The administration previously accused Canada of using a quota system that limits the number of U.S.-made vehicles allowed into the country tariff-free.
Officials said the system further penalizes companies that shift manufacturing jobs from Canada back to the U.S., effectively pressuring American companies to keep production north of the border.
Carney condemned the Trump administration's tariff plan at the time, calling it a "direct violation" of the Canada-United States-Mexico Agreement (CUSMA), the free trade agreement among the three countries.
This is a developing story. Check back for updates.
FOX Business' Bonny Chu contributed to this report.
https://www.foxbusiness.com/politics/trump-pauses-50-tariffs-canada-hours-before-deadline-after-announcing-new-dealCostco plots major expansion into senior healthcare with Medicare partnershipIn a first-of-its-kind venture, Costco is partnering with SCAN Health Plan on senior-focused insurance products that could include pharmacy, vision and hearing benefits.
Costco will soon offer Medicare plans to certain members as part of a new, first-of-its-kind health insurance venture.
The warehouse giant has teamed up with SCAN Health Plan, one of the nation’s largest nonprofit Medicare Advantage plans focused on senior health care, the insurance company announced Tuesday.
Under the partnership, the companies will launch a "suite of senior-focused" insurance products over the coming years.
Pending regulatory approval, the suite could include a revamped pharmacy experience, Medflex over-the-counter pharmacy benefits, vision care coverage, audiology or hearing benefits and more.
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The plans will be sold at Costco stores and also made available through insurance agents and websites, according to The Wall Street Journal.
The companies have not revealed exactly when the plans will become available, as regulatory review and approval are still pending. SCAN currently serves members across 33 counties in California, Arizona, Nevada, Texas, New Mexico and Washington.
SCAN Health said the initiative was designed to address the "disjointed experience that many seniors face accessing care and services" and will "bring more value and better experience to seniors as they navigate their health insurance."
COSTCO MAKES PAYMENT CHANGE THAT COULD SPEED UP CHECKOUT FOR MEMBERS
"For the millions of older adults who rely on Medicare Advantage, the future of the program depends on strong partnerships that make healthcare more accessible, more connected and more seamlessly integrated into everyday life," Dr. Sachin Jain, CEO of SCAN Group and SCAN Health Plan, said in a statement.
"Older adults want healthcare that is easier to navigate, more responsive to their needs and rooted in organizations they trust. Our expanded partnership with Costco will give us a strong foundation to explore new ways to help people stay healthy and independent while delivering the quality, value, and service both of our organizations are known for."
Costco CEO Ron Vachris added that the partnership with SCAN serves as an extension of the company’s commitment to providing value to its customers.
"For more than 40 years, Costco has consistently listened to our Members and earned their trust delivering consistent value on essential goods and expanding our health service offerings," Vachris said in a statement.
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"Selecting SCAN as our partner to deliver a better healthcare experience for seniors, is an extension of that commitment. We have developed a shared understanding of what matters most to the seniors we serve. Deepening our partnership allows us to build on that foundation and create value for our Members."
FOX Business reached out to Scan Health for more information.
https://www.foxbusiness.com/retail/costco-plots-major-expansion-senior-healthcare-medicare-partnershipFall travel bargains are fading as shoulder-season demand drives up pricesTravelers hoping to score cheaper fall getaways may need to rethink where and when they book as shoulder-season prices inch closer to summer highs.
Travelers can still score deals this fall, but they may have to work harder to find them as the traditional shoulder season gets squeezed.
Fall travel interest on Vrbo is up 17% from a year ago, while average nightly rates after summer are now just 5% below peak summer prices across the platform’s top destinations, according to new data from the vacation rental platform.
"Shoulder season is this magic time between Labor Day and the holiday travel season when, traditionally, prices have dropped pretty dramatically and crowds have thinned out," Vrbo Travel Expert Melanie Fish told FOX Business. "Well, summer travel demand is now bleeding over into fall."
Some of the best savings remain in beach destinations, overseas markets and trips booked for later in the fall.
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Myrtle Beach, South Carolina, tops Vrbo's list, with vacation rental rates averaging 34% less than during summer. One property cited by the company drops from as much as $1,300 per night in August to about $600 in October.
Other beach markets also offer discounts. Orange Beach, Alabama, offers average savings of 31%, followed by Panama City Beach, Florida, at 24%, Santa Rosa Beach, Florida, at 16%, and Ocean City, Maryland, at 12%, according to Vrbo.
Fish said travelers chasing lower prices should consider swapping destinations or keeping an eye out for last-minute discounts.
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Travelers heading overseas may also have better luck. European vacation rental prices fall an average of about 8% from summer highs during the fall, with larger discounts in destinations including Corfu, Crete, Girona, the Azores and Siena.
Major tourism hubs such as London, Paris, Madrid and Rome tend to hold onto higher prices, leaving fewer shoulder-season bargains.
The squeeze is also showing up in several major U.S. cities. Vrbo said fall rates are rising in Nashville, Boston, Chicago and Miami as demand stays strong beyond summer.
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Travelers willing to wait until after the holidays could find the biggest break.
From just after New Year’s through the period before spring break in early 2027, lodging prices are expected to run about 34% below summer peaks, with possible deals in San Diego, Los Angeles and Orlando.
https://www.foxbusiness.com/lifestyle/fall-travel-bargains-fading-shoulder-season-demand-drives-up-pricesAmerican Airlines makes major cabin upgrade as it battles for premium passengersAmerican Airlines is installing 4K seatback screens, Bluetooth connectivity, and USB-C charging across more than 800 narrowbody aircraft starting in 2028.
American Airlines passengers could soon notice some big changes when they settle into their seats, as the carrier rolls out a major overhaul of the onboard experience.
The company said Tuesday that more than 800 narrowbody aircraft will ultimately receive new entertainment systems featuring 4K displays, Bluetooth connectivity and USB-C charging.
"Big enhancements are taking flight," American said in a post on X announcing the changes.
New aircraft equipped with the screens are expected to begin arriving in the second half of 2028, while retrofits of existing jets are scheduled to start later that year.
CHICK-FIL-A REIMAGINES SOUTHERN BREAKFAST CLASSIC AS AMERICANS PILE ON THE PROTEIN
The retrofit program is expected to stretch into the early 2030s, according to American.
The move marks a notable shift for the Fort Worth, Texas-based carrier, which has for years relied heavily on passengers streaming entertainment to their own phones, tablets and laptops on many domestic flights.
The airline told Fox News Digital that changing passenger habits helped drive the decision.
"Customer preferences have evolved," the airline shared with Fox News Digital, adding that the shift has become particularly apparent since the COVID-19 pandemic.
The carrier added that younger travelers, in particular, increasingly expect access to multiple devices and larger screens during their trips.
At the same time, improvements in satellite internet are changing what airlines can offer passengers in the cabin. American plans to begin installing high-speed Starlink Wi-Fi on its narrowbody aircraft in 2027.
AMERICAN AIRLINES REPORTEDLY PAUSES 6 DOMESTIC ROUTES AMID FUEL PRICE PRESSURE TIED TO IRAN CONFLICT
The airline said combining built-in screens, passengers' personal devices and faster connectivity could create a more personalized in-flight experience, while also opening up "new opportunities for engagement and revenue growth."
The upgrades will cover both new aircraft and planes already in American's fleet. Newly delivered Airbus A321 and Boeing 737 MAX 10 aircraft will receive the entertainment systems, while existing narrowbody aircraft will be retrofitted.
American's current Airbus A320 fleet is the exception and will not receive the new seatback entertainment systems, the carrier told Fox News Digital.
The cabin overhaul goes beyond screens.
American is also increasing the number of higher-priced seats across its narrowbody operation, as airlines increasingly compete for travelers willing to pay more for additional space and premium amenities.
Premium seating currently represents roughly 25% of seats on American's narrowbody departures. The airline expects that figure to climb to approximately 40% in the coming years.
UNITED AIRLINES DROPS MERGER PURSUIT WITH AMERICAN, CEO KIRBY DETAILS WHY
American is already modifying its Airbus A319 and A320 aircraft to add another row of first class. Its future Boeing 737 MAX 10 aircraft are expected to have 24 first-class seats, while the airline also plans to reconfigure its A321neo fleet with additional first-class seating.
The carrier is expanding Main Cabin Extra, its extra-legroom economy product, across most of the narrowbody fleet as well.
"We’re making one of the most significant investments in the onboard experience in our history," American Chief Customer Officer Heather Garboden said.
The airline's decision comes as carriers increasingly focus on premium travelers and cabin amenities as another way to differentiate themselves beyond ticket prices and schedules.
American's new screens are expected to rank among the largest offered on narrowbody aircraft in North America, according to the carrier. The system will also offer personalized movie and television recommendations, interactive flight maps and destination information.
The first newly delivered aircraft with the technology are still roughly two years away, meaning passengers will see the changes gradually rather than through an immediate fleetwide overhaul.
American Airlines expects the retrofit program to be completed in the early 2030s.
https://www.foxbusiness.com/fox-news-travel/american-airlines-makes-major-cabin-upgrade-battles-premium-passengersTreasury yields hit multi-decade highs amid surging national debtTreasury yields hit multi-decade highs as the U.S. national debt nears $40 trillion, with the federal budget deficit projected at $2.1 trillion this year.
Financial markets and investors are reacting to the rapidly growing U.S. national debt, which is approaching a record of $40 trillion, by requiring greater returns for those who invest in America's debt obligations.
Yields on U.S. Treasurys have been elevated recently, in part due to the growth in debt, with the federal government projected to run a roughly $2.1 trillion budget deficit this fiscal year, according to the nonpartisan Congressional Budget Office (CBO).
Two recent Treasury auctions in the last week drew attention due to the yields reaching historic levels – the sale of 10-year notes cleared at a high of 4.683%, the highest in 19 years, while the 30-year bond auction stopped at 5.216%, a 25-year peak.
Demand from investors has remained steady despite the higher yields, as they navigate concerns over the growing debt, widening budget deficits and inflation – with the higher yields attracting investors.
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The higher yields at last week's auctions showed no sign of an abrupt decline in demand from domestic and foreign investors for Treasurys. Analysts also indicated there weren't signs that so-called bond vigilantes, who are concerned with fiscal policy and inflation risks and demand higher yields to invest, are actively selling Treasurys.
Yields on U.S. debt are higher than those on the debt issued by other developed countries like Japan, contributing to the stronger demand for Treasurys.
Jim Barnes, director of fixed income at Bryn Mawr Trust in Pennsylvania said in a Reuters report that the "appetite for Treasurys is still there and it's just a matter of – at what yield," adding that the "10-year at close to 5% and the 30-year at multi-decade highs will attract more buyers for risk-free Treasurys."
Treasurys are considered to be "risk-free" in theory, because the federal government is perceived as having little to no chance of entering into a formal default because of its ability to tax and control its money supply through the Federal Reserve. In practice, they do carry some risks for investors that owe to shifts in inflation and interest rates, despite the unlikely prospect of default.
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Elevated yields on U.S. debt do pose a challenge for consumers, as the yield on the 10-year Treasury note is a key guide for mortgage rates and they typically move in tandem.
Higher mortgage rates can make it harder for buyers to afford monthly payments and can discourage existing homeowners whose current mortgages are at lower rates from moving, while also weighing on construction activity.
Other types of consumer debt, including auto loans and other fixed-rate loans, also tend to rise with market rates, though there is a lag in the pass-through of the higher borrowing costs, and it's less exact than in other types of consumer borrowing. Credit card rates are more closely linked to banks' prime rates, which tend to follow the Fed's monetary policy moves.
Higher yields on Treasurys can also contribute to bigger budget deficits – and in turn, a larger national debt – as the federal government's debt service costs rise due to the higher yields.
US NATIONAL DEBT SURPASSES SIZE OF THE ECONOMY FOR FIRST TIME SINCE WORLD WAR II
A 10-year budget and economic outlook released by the nonpartisan Congressional Budget Office (CBO) earlier this year projected that the government's net interest costs are projected to exceed $1 trillion in fiscal year 2026, amounting to about 3.3% of GDP and nearly 14% of federal spending this year.
Interest costs are forecasted to continue to rise over the next 10 years, with the CBO projecting the annual interest expense will rise to $2.1 trillion in fiscal year 2036, when it would amount to 4.6% of GDP and account for 19% of federal spending that year.
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Reuters contributed to this report.
https://www.foxbusiness.com/economy/treasury-yields-hit-multi-decade-highs-amid-surging-national-debtMark Walter's insurer to cut $6.5B in investments amid federal probe, Lakers saleAs a federal investigation into Mark Walter is in play, the Los Angeles Dodgers owner's insurer agreed to cut up to $6.5 billion in investments.
Mark Walter, who sold his ownership stake in the Los Angeles Lakers and may be looking to unload his shares of Chelsea Football Club, continues to cut back amid a federal investigation.
TWG Global, Walter’s holding company, said on Tuesday it had agreed to cut up to $6.5 billion of Delaware Life Insurance Co’s investments in his businesses. The billions in swaps would be related-party investments for an equivalent amount of assets classified as independent, according to Reuters.
"The Group 1001 insurance companies are working with the Delaware Department of Insurance to address the identified investments, and TWG is committed to resolving this matter to the Department’s satisfaction," a spokesperson for TWG Global told the outlet.
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This comes as The Wall Street Journal reported U.S. federal prosecutors and the SEC are investigating Walter’s businesses to determine whether he, or his entities, committed fraud by concealing financial dealings while borrowing billions from insurers he controls.
In February, Delaware Life and Clear Spring Life and Annuity Co received grand jury subpoenas in connection to an investigation by the U.S. Attorney’s Office for the Southern District of New York.
Also, one of Wall Street’s top regulators has been conducting its own investigation, focused on whether private credit investments, which were categorized as unaffiliated investments by Delaware Life and Clear Spring Life, were in fact connected.
Delaware Life conducted its own internal investigation after received the subpoenas, where they found errors in how certain related-party investments were presented.
It was also reported earlier that the FBI recently seized Walter’s phone and laptop, as well as a high-ranking Guggenheim Investments executive’s, this past year.
While the investigations are ongoing, Walter shockingly sold his majority stake in the Lakers just one year after purchasing the team for a then-record $10 billion. He sold his majority stake to Josh Kushner and Bob Iger for a whopping $12.5 billion.
Now, Walter and his business partner, Todd Boehly, are reportedly looking to sell their shares in the English Premier League’s Chelsea Football Club, per the Financial Times. Walter and Boehly are hoping to sell their stakes to Clearlake Capital, the majority owner of one of the most popular soccer teams in the entire world.
Clearlake Capital reportedly has had some friction with the two minority stakeholders after they purchased a piece of the club four years ago. The outlet reported there have been negotiation talks for years between both sides, but no deal was made.
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Some are viewing the Lakers’ sale as a quick way to liquify assets for Walter with potential legal problems ahead, and now Chelsea could be yet another way to do so.
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https://www.foxbusiness.com/sports/mark-walters-insurer-cut-6-5b-investments-amid-federal-probe-lakers-saleTarget is set to report earnings before the bell. Here's what to expectTarget is expected to report its fiscal second-quarter results Wednesday morning as the retailer offers a window into its turnaround progress.{}
Tunnel to Towers Foundation and Anheuser-Busch deepen partnership ahead of 9/11 25th anniversaryBudweiser's iconic Clydesdales "Respect" commercial will re-air for just the fourth time as Anheuser-Busch sponsors 9/11 anniversary events nationwide.
The 25th anniversary of the September 11 attacks is approaching next month and a prominent foundation serving first responders and servicemembers is partnering with a major beer brand as the American public remembers those who stepped forward in response to the attacks.
The Tunnel to Towers Foundation and Anheuser-Busch have deepened their partnership in advance of the anniversary, with the company stepping in to help sponsor events around the country. Stephen Siller Jr., who manages the In the Line of Duty program at the Tunnel to Towers Foundation, told FOX Business in an interview that the company stepped in to support the foundation's "never forget" mission.
"For the 25th anniversary of September 11th, we wanted to give the country the opportunity to mourn. The events are very New York, Shanksville, Pentagon-focused – we wanted to do something this year where we traveled the country, allowing as many people as possible to pay their respects," Siller explained.
This year, the group is traveling the country with a 21-foot, 16,900 pound beam from the South Tower of the World Trade Center with 35 stops in about 30 cities. The journey will conclude by going through a tunnel into New York City, following in the footsteps taken by Siller's father as he responded to the Twin Towers on Sept. 11, 2001.
TUNNEL TO TOWERS LAUNCHES 'STEEL ACROSS AMERICA' TOUR TO HONOR 9/11 VICTIMS AND HEROES
Stephen Siller was an FDNY firefighter who was off-duty on the day of the September 11 attacks but responded to the World Trade Center after hearing the news. When he reached the Brooklyn Battery Tunnel, it was closed to vehicle traffic for security purposes, so he walked through the tunnel while carrying his gear to the Twin Towers, where he was tragically killed while trying to save others.
The Tunnel to Towers Foundation began with a run that followed his footsteps on September 11, and has built off that tradition with a growing number of events, including a tower climb where participants go up 104 flights of stairs at the World Trade Center and hundreds of run events around the country. This year's "Steel Across America" tour builds on that legacy.
"One of our main goals when we set out on the steel tour across America was to make sure kids like me who were nine months old or not even born at the time understand what was done for them," Siller said.
"We're going to be arriving back in New York, taking that piece of steel through the tunnel following the footsteps my father took that day and ending at the World Trade Center after a long four months of speaking of the stories of that day, making sure the men and women who lost their lives that day will never be forgotten," he added.
9/11: THE IMPORTANCE TO NEVER FORGET
Anheuser-Busch has helped sponsor those events and also plans to re-air the Budweiser "Respect" commercial on September 11 for just the fourth time to commemorate the 25th anniversary.
The commercial features the brand's iconic Clydesdale horse mascots, which are depicted traveling into New York City and bowing at the Twin Tower memorial beams and the Freedom Tower.
Cesar Vargas, chief external affairs officer at Anheuser-Busch, noted that the original "Respect" ad aired just once during the 2002 Super Bowl, and has been re-aired to mark the 10th and 20th anniversaries of 9/11. The version that will air this year is the one that first aired on the 10th anniversary and includes the Freedom Tower.
"By partnering with the Tunnel to Towers Foundation to re-air the commercial, we're following that approach, honoring the ad's original sentiment to commemorate the 25th anniversary of 9/11," Vargas said.
WORLD TRADE CENTER REBUILD REVITALIZED LOWER MANHATTAN AND BROUGHT HEALING
Vargas added that the company's partnership serves to "honor the memory of those who were lost by providing meaningful support for the heroes who serve our communities and our country."
Siller said that the advertisement is "in the same realm as our piece of steel is. It was a memento that is sacred, that was meant to pay respects to those who gave their lives on September 11th, those who give their lives to protect this country on a daily basis."
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The annual Tunnel to Towers NYC 5K Run & Walk is scheduled for Sunday, Sept. 27, which Anheuser-Busch is sponsoring for the fifth consecutive year with 250 employees, family members and friends participating. The event is capped at 30,000 participants.
The Budweiser Clydesdales will escort the Siller family in the opening procession, and the company plans to share commemorative cans at post-race gatherings.
https://www.foxbusiness.com/lifestyle/tunnel-towers-foundation-anheuser-busch-deepen-partnership-ahead-9-11-25th-anniversary