Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%Home Depot beat Wall Street's expectations on the top and bottom lines, even as some shoppers pulled back on larger projects.{}
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DOJ moves to permanently drop bribery case against Indian billionaire Gautam AdaniProsecutors have asked a judge to dismiss charges against India's Gautam Adani despite allegations he orchestrated a massive corruption scheme tied to solar energy contracts.
The U.S. Department of Justice has formally asked a federal court to dismiss criminal charges against Gautam Adani, an Indian billionaire accused of misleading U.S. and global investors while raising billions of dollars to finance a major solar energy project in India.
Adani, considered one of Asia’s richest individuals, allegedly promised to pay more than $250 million in bribes to Indian officials to secure lucrative contracts. He and his executives further raised money from investors by falsely claiming the company maintained strict anti-corruption policies — all while allegedly continuing the bribery scheme and later attempting to conceal the evidence, prosecutors alleged in 2024.
Despite the severity of the allegations, the Justice Department has requested the case be dismissed "with prejudice," indicating that the charges would be permanently dropped and may not be brought again in the future, according to court records filed Monday. Adani Group has denied the allegations, calling them baseless.
"The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants," prosecutors wrote in a court filing.
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The decision to drop the charges follows an announcement from the U.S. Securities and Exchange Commission (SEC) that it moved for entry of final judgments by consent, subject to court approval, in a related lawsuit involving Adani. The proposed resolution would not require Gautam Adani or Sagar Adani to admit or deny the SEC’s allegations.
Beginning in 2020, Adani Green Energy Limited, led by Gautam Adani, secured a major contract to develop solar power projects in India.
However, some Indian state governments allegedly declined to purchase the electricity from the project due to high costs.
As a result, Gautam Adani and his nephew, Sagar Adani, allegedly resorted to bribery, including promises of more than $250 million in payments to Indian officials, in order to secure power purchase agreements for the expensive solar energy.
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During the same period, the company required significant capital to finance the projects and raised approximately $750 million through bond sales to U.S. and global investors.
Federal prosecutors alleged that Adani Green and related entities raised more than $3 billion through loans and bond offerings while making false and misleading statements about the company’s anti-bribery and anti-corruption practices.
Prosecutors added that, to attract investors, the company falsely portrayed itself as an industry leader in corporate governance with a strict "zero tolerance" policy on bribery.
When U.S. authorities, including the FBI and the SEC, began investigating the alleged corruption, several executives were accused by prosecutors of attempting to obstruct the inquiry by deleting emails and electronic messages, concealing information during internal investigations, and making false statements to federal agents.
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The case dismissal is contingent upon approval by Judge Nicholas Garaufis, according to the documents.
https://www.foxbusiness.com/lifestyle/doj-moves-permanently-drop-bribery-case-against-indian-billionaire-gautam-adaniJPMorgan's summer reading list for the wealthy includes books on AI, leadership and lemonsJPMorgan’s annual summer reading list, which has become the go-to selection of beach books for the wealthy, has 14 titles this year.{}
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Chick-fil-A franchisee sued after allegedly firing employee over Sabbath observanceAn Austin-area Chick-fil-A franchise operator faces a federal lawsuit alleging it fired an employee after refusing to accommodate her Sabbath observance.
A Texas Chick-fil-A franchise operator is facing a federal lawsuit over allegations that it refused to accommodate an employee’s religious beliefs before ultimately firing her.
According to a complaint filed by the Equal Employment Opportunity Commission (EEOC) and obtained by FOX Business, Hatch Trick, Inc. — which operates several Chick-fil-A restaurants in the Austin area — allegedly discriminated against employee Laurel Torode, whose faith prohibits her from working on Saturdays.
Torode, a member of the United Church of God, reportedly disclosed during her interview that she observes the Sabbath from sunset Friday to sunset Saturday.
The EEOC said the company initially accommodated her request while she worked as a manager overseeing delivery drivers at one Austin-area location.
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That arrangement allegedly changed several months later.
"In early February 2024, Defendant told Torode that going forward it would require her to work on Saturdays, to include the period in which she observes the Sabbath," as noted in the complaint.
According to the lawsuit, Torode sought accommodations and met with company officials to discuss alternatives that would allow her to remain in her management role while continuing to observe her Sabbath.
Instead, the company allegedly told her she would need to accept a lower-level delivery driver position with reduced pay, fewer hours and diminished benefits if she wanted to avoid Saturday shifts.
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When Torode declined the position, Hatch Trick terminated her employment, according to the EEOC.
The EEOC alleges the company violated Title VII of the Civil Rights Act of 1964, which requires employers to reasonably accommodate employees’ religious beliefs unless doing so would create an undue hardship.
"The duty under federal law to provide reasonable accommodation of religion reflects an acknowledgment by our society of the importance of faith in workers’ everyday lives and an abiding respect for those who observe religious practices as an expression of that faith," acting EEOC Dallas Regional Attorney Ronald L. Phillips said in a statement.
The lawsuit was filed in federal court in Austin after the EEOC said efforts to resolve the dispute failed.
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The case has sparked attention because Chick-fil-A is famously closed on Sundays, a policy the company says was established by founder S. Truett Cathy in 1946, so employees could "rest, enjoy time with their families and loved ones or worship if they choose."
Chick-fil-A declined to comment on the lawsuit, but told FOX Business that "as a franchise business, all employment decisions are solely the responsibility of each individual restaurant owner."
Hatch Trick Inc. and the EEOC could not immediately be reached by FOX Business for comment.
https://www.foxbusiness.com/lifestyle/chick-fil-a-franchisee-sued-after-allegedly-firing-employee-over-sabbath-observanceLowe’s celebrates Messi’s last World Cup with a towering 10-foot tributeAhead of the 2026 FIFA World Cup, Lowe's "Epically More Messi" campaign is highlighted by a limited-edition, 10-foot inflatable version of Lionel Messi for homes.
As the 2026 FIFA World Cup creeps closer, fans across the world are expected to be watching one of the game’s most iconic players.
And Lowe’s is making sure Lionel Messi remains front and center during this year’s tournament.
Messi, the eight-time Ballon d’Or winner, is expected to be in contention for Argentina’s 2026 World Cup squad as the defending champions look to repeat.
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This is confirmed to be Messi’s final World Cup, as the 38-year-old, who also stars for Inter Miami CF in MLS, confirmed that to be the case leading up to the tournament.
But while fans anticipate watching Messi, Lowe’s collaborated with the soccer legend on a new campaign ahead of the World Cup. And it involves a 10-foot-tall lighted outdoor inflatable version of Messi.
Lowe’s is rewarding its MyLowe’s Rewards and My Lowe’s Pro Rewards members with "Epically More Messi," a new campaign designed to bring the brand’s most loyal fans closer to the game and to the person many consider to be one of the greatest players of all time.
To do so, Lowe’s released a limited-edition, 10-foot inflatable Messi, who is decked out in a Lowe’s soccer kit and even features details like his tattoos. Talk about a larger-than-life way to show off passion for the game and one of its greats.
"Soccer fandom is rooted in passion, pride and showing up in an EPIC way," said Jen Wilson, Lowe’s senior vice president and chief marketing officer, in a press release. "With ‘Epically More Messi,’ we’re creating new ways to bring our most passionate and loyal Lowe’s fans more rewards – in this case, access to limited-edition merchandise, epic Messi drops over social and more."
The inflatable, which goes for $99, can be purchased through a members-only access experience beginning on May 18 on Lowe’s site. It will also be available across the 11 U.S. host cities starting on May 20.
The Messi inflatable has already been seen across host sites in Atlanta (Piedmont Park), Dallas (Klyde Warren Park), Miami (Nu Stadium at Miami Freedom Park) and New York (Seaport District).
Lowe’s is also giving their members the chance to engage with exclusive content as well as Messi giveaways for the World Cup. There will also be a social-first fan experience that will appear, featuring Messi, soccer insider Fabrizio Romano and ESPN personality Katie Feeney.
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Finally, Lowe’s brought back the father-son broadcasting duo of Andres and Nico Cantor as official campaign partners.
"Soccer fandom in the U.S. is at an all-time high, and a legend like Lionel Messi can bring communities together in powerful ways," said soccer broadcasting icon Andres Cantor. "With ‘Epically More Messi,’ Lowe’s is creating experiences that meet fans where they are – at home and at their neighborhood fields where many soccer dreams begin."
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Guinness collaborates with Art of Football to deliver jersey exclusive to North America for FIFA World CupAhead of the World Cup, Guinness, the iconic beer brand, collaborated with Art of Football for a limited-edition jersey exclusive to North America as part of a broader campaign.
With the 2026 FIFA World Cup set to begin June 11, Guinness, the beer from Dublin, Ireland, is launching a soccer-themed campaign called "The World’s Cup" for fans watching around the world.
Guinness, which Guinness North America says is brewed in 49 countries worldwide and sold in over 150, is reimagining its "The World’s Cup" ad from the 1990s in a way the brand says is meant to appeal to both die-hard supporters and casual viewers gathering for matches this summer.
As part of the broader campaign, Guinness collaborated with Art of Football on a limited-edition jersey collection designed specifically for match days.
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While the signature Guinness logo, as well as the Guinness harp, are visible on the front of the jersey, the shirt features a black-and-green patterned base with white and red stripes.
Art OF has collaborated on numerous pieces with Guinness in the past, but this jersey will only be available in North America starting June 8.
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Art of Football, founded in 2013, is a fan-led creative studio that’s dedicated to preserving the culture of sport through the lens of art, making it a fitting collaborator for Guinness’ soccer-focused campaign ahead of one of the world’s biggest tournaments in sports.
The company has also collaborated with brands like Nike and Adidas, while securing licenses with the Premier League, Championship and European Leagues.
For Guinness, though, its "The World’s Cup" campaign isn’t just the limited-edition jersey collaboration. The brand also worked with Art of Football to outfit bartenders and pub staff who Guinness says "make game days lovely, serving pints and creating a sense of connection that keeps fans coming back."
Bartenders and pub staff in Atlanta, Boston, Philadelphia and San Francisco will be featured in Guinness content on social media during the campaign.
Guinness Draught Stout will also unveil its limited-edition soccer packs with a design created by Brooklyn-based illustrator and designer Sophia Yeshi, whose work is known for bold visual storytelling and themes of diversity.
The packs, sold in 4-packs and 8-packs, will be available nationwide for a limited time, according to Guinness.
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Finally, Guinness has more in store, but it will be keeping it a surprise as the World Cup gets closer.
"Soccer is at its best when everyone feels part of it, and Guinness has always stood for that same spirit of togetherness," Karissa Downer, Director of Guinness, said in a press release. "Whether you're an avid supporter or simply here for a good time, Guinness makes game day feel more welcoming, more connected and more memorable. With 'The world's cup,' we are celebrating the pubs, pints and bartenders who turn every match into a moment worth sharing. The beautiful game deserves a beautiful pint and a room full of fans to enjoy it with."
Guinness says consumers should drink responsibly.
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https://www.foxbusiness.com/sports/guinness-collaborates-art-football-deliver-jersey-exclusive-north-america-fifa-world-cup5 cities that nail the retirement sweet spotAmericans retiring in 2026 may want to consider these five cities where cost of living, housing prices and senior amenities stretch savings further.
Americans looking to retire this year may be considering relocating to a new city that allows their retirement savings to go further, and a new analysis by GOBankingRates spotlights five cities to consider.
The amount an individual or couple needs to have saved to retire can vary significantly across different parts of the country.
A recent GOBankingRates report noted that the amount needed to retire in Oklahoma is $735,284, whereas the figure for Arizona would be $1,110,019 and illustrates how those amounts may differ depending on the location.
GOBankingRates identified five communities that people retiring in 2026 should consider given the cost of living, housing prices, quality of life and other amenities for seniors.
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The low cost of living is a key reason Midland topped the rankings, as the community has a median home price of around $206,000 – well below the national average of about $360,000 which gives retirees the opportunity to save on housing costs.
Located inland from Saginaw Bay, Midland has nearly 43,000 residents and has been noted for its walkability and access to nature, with the area also experiencing diverse seasons in Michigan's climate to allow locals to take part in winter activities. Midland topped U.S. News & World Report's rankings of the best communities for retirees.
Florida is a popular destination for retirees and the small community of Homosassa Springs ranked highly for its affordability as well as its location on the state's western coast north of Tampa.
Homosassa Springs also has low housing costs, with a median price of about $220,000, while also offering easy access to the coast along with the warmer climate and no state income taxes.
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Located north of Houston, The Woodlands is near the city's world-class healthcare facilities, a range of housing options and also low tax burdens with Texas not having a state income tax.
The cost of living is relatively higher than the smaller communities at the top of the list, with the suburb's median home value coming in at $474,000, above the national average.
New Mexico is known for its dry, sunny weather, which makes it an appealing destination for retirees – particularly those who enjoy outdoor recreation.
Rio Rancho is a suburb of Albuquerque and is near healthcare facilities and is relatively affordable in terms of housing, with a median home value of $310,000.
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Located in the mountainous western portion of North Carolina, Asheville has around 95,000 residents and offers residents access to amenities found in smaller metro areas along with access to outdoor activities and healthcare.
The median home price in Asheville is listed at $442,000 according to Redfin, so housing is relatively affordable even though it may be less so than other locations on the list.
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Taiwan's top US diplomat says talks with Washington ongoing as arms deal loomsTaiwan's Representative to the U.S. Alexander Yui says dialogue with Washington is ongoing as President Trump weighs $14 billion in arms sales and Taiwan boosts defense spending.
As President Donald Trump weighs a $14 billion arms sale to Taiwan, communication between Taipei and Washington remains ongoing, according to Alexander Yui, Taiwan’s Representative to the U.S.
"This is a constant thing," Yui said. "It's an ongoing dialogue. It's not just if it doesn't happen, it ends. It's just a continuum of things."
Taiwan is also increasing its own defense spending. Lawmakers recently approved a supplemental defense package worth roughly $25 billion, though Taiwanese President Lai Ching-te had pushed for closer to $40 billion.
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"My government is doing what it can," Yui said. "But again, I want to stress the determination of the Taiwanese people to defend ourselves through our own means and help from any other ally is more than welcome."
Yui argued semiconductor production is one of the clearest reasons the U.S. should continue supporting Taiwan militarily. Taiwan produces roughly 90% of the world’s advanced semiconductor chips, forming what he described as a deeply interconnected global supply chain.
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"The United States is very good at designing the chips, and we're very good at scaling and fabricating the chips using machines from the United States, from the Netherlands, from Japan," Yui said. "This triangle of partnership works very well."
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Taiwan has also pledged to invest $250 billion in semiconductor and technology manufacturing in the U.S. as Trump pushes to expand domestic chip production.
"It's not that easy. But we're trying to bring manufacturing to the United States again, because it also suits our interest to expand our manufacturing," said Yui.
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Yui also pushed back on any suggestion that Taiwan is moving toward independence, saying the island’s government is working on maintaining the status quo.
"There is no Taiwan independence movement in Taiwan because there is no need. We in Taiwan [are] called Republic of China, we're already a sovereign, independent nation," Yui said. "We're just trying to preserve the status quo as it is."
https://www.foxbusiness.com/politics/taiwans-top-us-diplomat-says-talks-washington-ongoing-arms-deal-loomsFederal jury delivers verdict on Musk's lawsuit against OpenAIA jury in federal court reached a verdict in Elon Musk's lawsuit against OpenAI after Musk accused the maker of ChatGPT of violating its founding mission as a nonprofit.
A federal jury ruled against Elon Musk in his lawsuit accusing OpenAI of abandoning its nonprofit roots, finding that neither the tech company nor CEO Sam Altman could be held liable in the matter because Musk waited too long to bring the case.
The jury delivered a unanimous verdict after deliberating for less than two hours on Monday morning, following 11 days of testimony and arguments in Oakland, California. They found all of Musk’s claims against the company and Altman to have exceeded the statute of limitations.
Musk was a co-founder of OpenAI in 2015, but left the artificial intelligence (AI) startup in 2018 after he was unable to persuade its other leaders to have OpenAI merge with Tesla or create a for-profit entity led by him to attract the investment needed to meet the company's technological needs.
In his lawsuit, Musk accused OpenAI of violating its founding mission as a nonprofit to develop AI for the benefit of humanity when the startup created a for-profit entity in 2019.
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His lawsuit sought the removal of OpenAI CEO Sam Altman and President Greg Brockman from their roles at the company. He also sought over $150 billion in damages from OpenAI and Microsoft, which Musk said he would provide to OpenAI's nonprofit entity. Altman and Brockman were among OpenAI's co-founders.
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Altman and OpenAI, now a company valued at $852 billion, argued there was never a promise to keep the company nonprofit permanently.
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The company behind ChatGPT further countered Musk's claims by noting that the Tesla CEO pursued a merger with OpenAI and was involved with discussions about creating a for-profit entity for the company before his departure from its board of directors. They also said they viewed the lawsuit as a tactic to boost his own AI startup, xAI, as a competitor to OpenAI.
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Eric Schmidt met with boos during University of Arizona commencement speech over AI fearsEric Schmidt was booed during a University of Arizona commencement address after discussing AI, job displacement concerns and the future of technology
Former Google CEO Eric Schmidt was met with boos during a University of Arizona commencement speech after discussing artificial intelligence and fears the technology could reshape – or replace – parts of the workforce.
Schmidt, who led Google from 2001 to 2011, addressed graduates on Friday while reflecting on how technology transformed society during his career. The atmosphere shifted, however, when he pivoted to artificial intelligence – a topic that has increasingly fueled concerns about job displacement among younger workers entering the labor market.
"The same tools that connect us also isolate us. The same platforms that gave everyone a voice… degraded the public square," Schmidt told graduates.
Boos from the crowd intensified after Schmidt compared artificial intelligence to previous technological revolutions.
"I know what many of you are feeling about that. I can hear you," Schmidt said, appearing to address the boos. "There is a fear in your generation that the future has already been written, that the machines are coming, that the jobs are evaporating, that the climate is breaking, that politics are fractured, and that you are inheriting a mess that you did not create."
Schmidt acknowledged those fears as "rational" but argued graduates should help shape the future of AI rather than reject it.
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"The question is not whether AI will shape the world. It will," Schmidt said. "The question is whether you will have shaped artificial intelligence."
The exchange underscored growing anxiety surrounding artificial intelligence as major corporations rapidly deploy AI tools across industries. Companies including IBM and Klarna have publicly discussed using AI to streamline operations and reduce certain staffing needs, particularly in administrative and entry-level roles.
A recent Pew Research Center survey found many Americans remain more concerned than excited about AI’s expanding role in daily life and the economy.
Schmidt’s appearance also drew criticism from some student activist groups over sexual assault allegations raised in a lawsuit filed last year by former partner Michelle Ritter. Schmidt has denied the allegations, which an attorney previously described as fabricated. Earlier this year, a judge ordered the dispute into arbitration.
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The University of Arizona defended its decision to invite Schmidt as commencement speaker, citing his contributions to technology and scientific research.
"He helped lead Google’s rise into one of the world’s most influential technology companies and continues to advance research and discovery through major philanthropic and scientific initiatives," university spokesperson Mitch Zak said in a statement.
A similar incident occurred earlier this month when real estate executive Gloria Caulfield was met with boos after linking AI to "the next Industrial Revolution" during a commencement address at the University of Central Florida.
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Despite the backlash, Schmidt urged graduates to embrace open debate and innovation, arguing technological change remains inevitable.
"The future is not yet finished," Schmidt said in his closing remarks. "It is now your turn to shape it."
https://www.foxbusiness.com/politics/eric-schmidt-booed-ai-university-arizona-commencementMayor Zohran Mamdani says first of NYC's five government-run grocery stores will open in the Bronx next yearMayor Mamdani announces NYC's first city-run grocery store will open next year in the Bronx at The Peninsula, a mixed-use affordable housing campus.
New York City Mayor Zohran Mamdani on Monday announced another location for one of the city’s five planned government-run grocery stores.
The store will be located in the Bronx at what Mamdani called The Peninsula, a planned mixed-use campus that will also offer affordable housing and a health and wellness center in the Hunts Point neighborhood. It is scheduled to open some time in 2027.
"This store will be the first of the five city-run grocery stores to open," Mamdani told reporters during a press conference. "Bronx residents will be able to begin shopping here next year."
"It is going to be a 20,000 square-foot location, and its ambition is perfectly placed at The Peninsula, which will house 740 units of 100% affordable housing by the time that it's fully built," the mayor continued.
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The Peninsula will be located on the site of the former Spofford Juvenile Detention Facility.
Mamdani previously announced an East Harlem location for the city's flagship 9,000 square-foot Manhattan location, but that store will be built from the ground up and is slated to open in 2029.
The East Harlem site is estimated to cost $30 million, according to the New York Times. It was unclear how much the location at The Peninsula would cost.
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The total budget allocated for the development of the five city-run grocery stores is $70 million.
Mamdani has touted the city-run grocery store plan as a "grand experiment" that would reduce the cost of everyday items like bread and eggs.
He has previously promised to open one such store in each borough, saying the city will subsidize basic grocery items while a private operator runs the stores under city rules requiring lower prices.
Mamdani has said the city-run stores would be part of a broader "ecosystem" and would not replace existing grocers, including bodegas and neighborhood supermarkets, amid questions about their impact on small businesses.
Fox News Digital’s Michael Dorgan contributed to this report.
https://www.foxbusiness.com/politics/mayor-zohran-mamdani-says-first-nycs-five-government-run-grocery-stores-open-bronx-next-yearThe World Bank Wants to Change the Way It Manages Complaints: The Fixes That Could Make It Better
PRETORIA, South Africa / WASHINGTON DC, USA , May 19 (IPS) - The World Bank made history in 1994 by creating the Inspection Panel, the first independent accountability mechanism, at any international organisation. Its function is to investigate complaints from communities who allege they were harmed because the bank failed to comply with its own policies and procedures.
https://www.globalissues.org/news/2026/05/19/43070 {"url":"https://static.globalissues.org/ips/2026/05/The-World-Bank-Group_-100x100.jpg"}China will order 200 Boeing jets, Trump tells Fox NewsPresident Donald Trump told Fox News that China has agreed to buy 200 Boeing jets, according to a clip that aired Thursday.{}
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NextEra bets $66.8B on AI power boom with Dominion Energy acquisitionNextEra Energy announced a $66.8 billion acquisition of Dominion Energy, expanding its reach into Northern Virginia’s booming AI data-center market.
NextEra Energy is making a massive $66.8 billion bet that America’s artificial intelligence boom will drive a historic surge in electricity demand, announcing plans to acquire Dominion Energy in a blockbuster utility deal that would create the world’s largest regulated utility by market value.
The combined company would serve roughly 10 million customer accounts across Florida, Virginia, North Carolina and South Carolina and operate about 110 gigawatts of generation capacity. The transaction is structured as an all-stock deal.
The acquisition would give Florida-based NextEra a major foothold in Northern Virginia’s "Data Center Alley," the world’s largest concentration of data centers and a critical hub of the U.S. AI economy.
The deal highlights how rapidly AI is reshaping the U.S. energy industry, with utilities racing to supply electricity to massive data centers operated by companies including Amazon, Microsoft, Google and Meta.
Dominion alone has nearly 51 gigawatts of contracted data-center capacity tied to customers including Amazon, Microsoft, Alphabet, Meta, Equinix and CoreWeave, according to the companies. One gigawatt can power roughly 750,000 homes.
The companies also said the combined business would have more than 130 gigawatts of additional large-load opportunities tied to rising power demand.
The transaction would also significantly expand NextEra’s presence in the PJM Interconnection region, the nation’s largest power grid covering more than a dozen states and several of the country’s fastest-growing AI infrastructure markets.
The merger marks one of the largest utility transactions in years and reflects growing Wall Street expectations that electricity providers could emerge as major beneficiaries of the AI boom as power demand rises for the first sustained period in decades.
The combined company would derive more than 80% of its operations from regulated utility businesses, a structure investors typically view as more stable and predictable.
Power prices nationwide have already climbed roughly 40% over the last five years, with particularly sharp increases in AI-heavy states including Virginia, Maryland and Pennsylvania.
The deal is also part of a broader consolidation wave across the power sector as utilities and investors seek to secure generation capacity and grid access tied to AI-driven demand growth.
Other recent industry transactions include Constellation Energy’s $16 billion acquisition of Calpine, Blackstone’s $11.5 billion deal for TXNM Energy and AES Corp.’s pending $33.4 billion buyout.
The merger is expected to face regulatory scrutiny and still requires approval from federal and state regulators. NextEra said it plans to provide $2.25 billion in customer bill credits across Virginia, North Carolina and South Carolina following the deal’s completion.
The companies also said they plan to maintain dual headquarters in Florida and Virginia while keeping Dominion’s utility brands and local operating structures in place. The transaction is expected to close within 12 to 18 months.
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Neither company disclosed additional details about potential operational changes or workforce impacts tied to the proposed merger.
Reuters contributed to this report.
https://www.foxbusiness.com/fox-news-tech/nextera-dominion-ai-data-center-power-demandTrump admin rolls out Workforce Pell Grants to fast-track workers into high-demand jobsEducation Secretary Linda McMahon said the new Workforce Pell Grant program will help Americans train quickly for in-demand jobs.
The Trump administration on Monday unveiled the nation’s first Workforce Pell Grant program, a federal student aid initiative designed to move Americans more quickly into high-demand jobs through short-term training and certification programs.
Education Secretary Linda McMahon announced the program in a FOX Business exclusive interview on "Mornings with Maria," calling it a key part of President Donald Trump’s workforce and economic agenda.
The initiative will allow eligible students to use Pell Grants for credential and certification programs that can lead to employment in as little as eight weeks, McMahon said.
The administration says the program is aimed at helping fill labor shortages in industries including skilled trades, manufacturing and health care as companies ramp up hiring and expand domestic production.
SOUTHERN CITIES DOMINATE RANKINGS OF BEST JOB MARKETS FOR NEW COLLEGE GRADUATES
"We have to fill our workforce shortage," McMahon said. "This is a new program – from eight to 15 weeks – where you can go in, get certifications and get into the workforce and get a job."
Eligible programs include training for electricians, HVAC technicians, carpenters and other skilled trades.
The rollout comes as the administration also pushes broader reforms to the federal student loan system, including new annual caps on graduate and professional school borrowing. Officials say the changes are intended to curb rising tuition costs and shift more students toward career-focused training pathways tied directly to workforce demand.
UNIVERSITY LETS STUDENTS EARN BACHELOR'S AND MASTER'S DEGREES ENTIRELY ON THEIR PHONE
McMahon argued that Workforce Pell Grants will offer a cheaper and faster alternative for many Americans seeking stable careers.
"You can stack these credentials in electrical work, HVAC, carpentry – a lot of the skills and workforce that we need because we are desperately in need of this workforce development," McMahon said.
The administration points to growing shortages in skilled trades as a major driver behind the program. McMahon cited data showing that for every five workers leaving the skilled labor force, only two are replacing them.
"If we don’t reinforce this workforce, by 2030 we’d need about 2.1 million," she said.
McMahon also said community colleges are increasingly partnering with high schools to allow students to graduate with workforce certifications alongside traditional diplomas.
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"As we are reshoring manufacturing and building anew in this country, we will have the workforce that we need," McMahon said. "It’s vital that we do that."
https://www.foxbusiness.com/politics/workforce-pell-grants-skilled-trades-jobsStop the Madness: Civil Society Cannot Thrive on Burnout
BAGAMOYO, Tanzania / BEIRUT, Lebanon / WASHINGTON D.C., May 18 (IPS) - In an era when civil society funding is in decline, it’s time to rebel against a broken system.
Read the full story, “Stop the Madness: Civil Society Cannot Thrive on Burnout”, on globalissues.org →
https://www.globalissues.org/news/2026/05/18/43061 {"url":"https://static.globalissues.org/ips/2026/05/Emmanuel-Herman-100x100.jpg"}Breaking Cultural Barriers to Equip Marginalised Kenyan Girls With Entrepreneurial Skills
MORPUS, Kenya, May 18 (IPS) - For generations, communities in Kenya’s arid and semi-arid lands (ASAL) have viewed girls through the lens of marriage, with some being married at 11 in exchange for livestock or soon after secondary school, denying them opportunity for further education and skills training.
https://www.globalissues.org/news/2026/05/18/43058 {"url":"https://static.globalissues.org/ips/2026/05/A-section-of-girls-who-graduated-with-different-entrepreneurial-skills-100x100.jpg"}CDC says there are no U.S. hantavirus cases currently, 41 people being monitoredThe CDC said the risk to the general public from hantavirus remains low.{}
These three artworks could sell for $100 million each next week as May auctions beginThe wild card for the May auctions is the Middle East, with the Iran war clouding buyer expectations.{}
Hantavirus outbreak isn't another Covid pandemic – but experts say it's testing U.S. readinessFor some experts, the outbreak is raising broader concerns about how equipped the U.S. is to respond to future infectious disease threats.{}
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Beer demand stumbles as gas prices surge, data showsU.S. beer sales slump as higher gas prices squeeze consumers, with convenience stores and high-fuel-cost states with higher-cost fuel seeing the sharpest declines.{}
Allegiant CEO makes case for low-cost airline model as Sun Country acquisition closesAllegiant CEO Greg Anderson said leisure travel demand is still strong despite higher fuel prices.{}
Companies start getting tariff refunds after Supreme Court decisionAfter the Supreme Court ruled some of President Trump's tariffs unconstitutional, the first wave of tariff refunds have begun flowing in.{}
One type of property is quietly saving Americans thousands of dollarsBuyers of newly built homes could save thousands over time on energy and repairs compared to older properties, according to a Realtor.com report.
A newly built home may cost more upfront, but buyers could come out ahead over time as newer properties require less maintenance and use less energy, according to a new Realtor.com report.
The report suggests buyers should look beyond listing prices and consider the long-term cost of homeownership when comparing new and existing homes.
The findings arrive as housing affordability continues to dominate economic concerns for many Americans ahead of the midterm elections.
THIS MIDWESTERN STATE LEADS THE NATION IN HOME FORECLOSURES AS US FILINGS JUMP BY 26%
Realtor.com found buyers of new-construction homes save an average of $25,335 during the first 10 years of ownership compared with buyers of 20-year-old homes. The savings stem largely from lower utility bills and reduced spending on major repairs and replacements, including HVAC systems, roofs and water heaters.
The study compared homes built in 2025 with homes built in 2005, using a standard home size of 1,750 square feet. Researchers found newer homes benefit from updated building codes, improved insulation and more energy-efficient systems.
WHITE HOUSE TEASES MAJOR HOUSING AFFORDABILITY PLAN AS PRICES SQUEEZE AMERICANS
Savings varied widely by region, with New England states seeing the biggest long-term savings. Massachusetts led the nation at nearly $39,000 over 10 years, which researchers attributed to colder climates and stricter energy codes.
Southern states, including Arkansas, South Carolina, Kentucky, Florida and Texas, saw smaller savings despite lower upfront new-construction costs. Realtor.com said milder winters reduce potential energy savings.
The report identified 16 metro areas where long-term savings offset the upfront premium for new construction, including San Diego, Salt Lake City, Seaford, Delaware, Salem, Oregon, and Madison, Wisconsin.
AMERICANS KEEP MOVING TO TEXAS AND FLORIDA — BUT ONE OTHER RED STATE IS GROWING EVEN FASTER
Researchers also noted that builder incentives, including price cuts, cash credits and mortgage-rate buydowns, could further improve affordability.
Realtor.com estimates new-home buyers currently pay mortgage rates roughly one percentage point lower than buyers of existing homes, potentially saving more than $30,000 over 10 years.
The findings underscore how operating costs and financing incentives are becoming a larger part of the affordability equation for homebuyers.
https://www.foxbusiness.com/politics/one-type-property-quietly-saving-americans-thousands-dollarsKool-Aid to launch electrolyte packets with no artificial dyes as part of Kraft Heinz makeoverParent company Kraft Heinz is trying to reverse slumping sales by modernizing many of its legacy brands.{}
Laid-off GM employees tell of ominous email, severance and role of AIGeneral Motors employees who were laid off Monday described their job terminations to CNBC.{}
Long Island Rail Road strike halts service for 300,000 commuters ahead of Memorial DayThousands of Long Island Rail Road workers walked off the job after failed labor negotiations, suspending commuter rail service across the New York region.
Thousands of Long Island Rail Road workers are officially on strike as of midnight Saturday, effectively shutting down the nation’s busiest commuter railroad in its first strike in more than three decades and threatening major economic disruption across the New York region ahead of Memorial Day travel.
The strike halted service for roughly 300,000 daily riders after last-minute contract negotiations between the Metropolitan Transportation Authority and a coalition of five rail unions failed to produce a wage agreement.
The MTA confirmed Saturday that all LIRR service was suspended and warned there is "no substitute" for the railroad, urging commuters to work remotely if possible as officials brace for severe congestion and delays throughout the metropolitan region.
New York State Comptroller Thomas DiNapoli’s office estimated the strike could cost the regional economy up to $61 million per day in lost economic activity, as commuters scramble for alternatives and businesses prepare for disruptions.
GEN Z IS SINGLE-HANDEDLY BRINGING AMERICA'S SHOPPING MALLS BACK TO LIFE
The labor action marks the first Long Island Rail Road strike since 1994. Union leaders said workers involved in the coalition have gone more than three years without raises while negotiating a new labor agreement.
"This strike would not have happened if the MTA and LIRR offered our members the reasonable terms the government recommended multiple times. But management refused," Mark Wallace, president of the Brotherhood of Locomotive Engineers and Trainmen and the Teamsters Rail Conference, said in a statement.
NYC REAL ESTATE TITAN COMPARES ‘TAX THE RICH’ SLOGAN TO ‘DISGUSTING RACIAL SLURS’ AMID MAMDANI CLASH
"We hope LIRR gets serious soon to avoid further unnecessary disruptions for hundreds of thousands of New Yorkers. They know where to find us when they’re ready: on the streets."
MTA officials defended their bargaining position, arguing the unions were demanding wage increases that could ultimately drive up fares and strain the transit system’s finances.
MTA Chair and CEO Janno Lieber said the agency "cannot responsibly make a deal that implodes MTA’s budget" and warned taxpayers and riders could ultimately bear the cost of larger wage increases.
Lieber also accused union leaders of planning to strike regardless of the MTA’s offers, saying the latest proposal gave workers "everything they said they wanted in terms of pay."
New York Gov. Kathy Hochul criticized the strike as "reckless," warning it could hurt commuters, businesses and the broader regional economy. Hochul, who is seeking reelection later this year, said the unions’ demands could force fare hikes and higher taxes for Long Islanders.
President Donald Trump also weighed in on the dispute, blaming Hochul for allowing the strike to occur.
"If you can’t solve it, let me know, and I’ll show you how to properly get things done," Trump wrote on Truth Social.
The standoff underscores growing pressure facing public transit systems nationwide as labor unions push for higher wages while transit agencies continue grappling with post-pandemic budget pressures and shifting commuting patterns.
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Transit officials have not indicated when negotiations could resume or how long the strike may continue as commuters across the New York area seek alternative transportation options.
https://www.foxbusiness.com/economy/long-island-rail-road-strike-halts-service-300000-commuters-ahead-memorial-dayBlackstone seasoning blend recalled over possible salmonella contaminationBlackstone Products is recalling select lots of its Parmesan Ranch seasoning after a supplier-issued milk powder recall raised concerns about possible salmonella contamination.
A Blackstone seasoning blend has been recalled due to a potential risk of salmonella contamination, according to the U.S. Food and Drug Administration (FDA).
Blackstone Products of Providence, Utah, announced it was voluntarily recalling certain lots of its Parmesan Ranch seasoning products following the discovery that California Dairies, Inc. recalled dry milk powder due to potential salmonella contamination.
The affected milk powder was supplied to a third-party manufacturer and used in the seasoning product, according to the FDA.
The affected products were sold nationwide exclusively through Walmart stores and the Blackstone Products website.
CHECK YOUR FREEZER: ORGANIC ICE CREAM RECALLED IN 17 STATES OVER POSSIBLE METAL FRAGMENTS
The recalled products are labeled as Blackstone Parmesan Ranch 7.3 oz seasoning products with item number #4106. The lot code and best-by dates are located on the bottom of the product packaging, according to the FDA.
The recall specifically impacts lot numbers 2025-43282, 2025-46172 and 2026-54751 with "best by" dates of July 2, 2027, Aug. 5, 2027, and Aug. 12, 2027, respectively.
No illnesses have been reported from the affected seasoning products, but the FDA warns salmonella can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems.
Salmonella is an organism that can cause fever, diarrhea, nausea, vomiting and abdominal pain in otherwise healthy people, according to the FDA. In rare cases, the infection can enter the bloodstream and cause more severe illnesses, including arterial infections, endocarditis and arthritis.
MORE THAN 125,000 CHILDREN’S TOWER STOOLS RECALLED NATIONWIDE DUE TO POSSIBLE DEADLY DEFECT
A representative for Blackstone did not immediately respond to FOX Business’ request for comment.
Consumers are urged not to use the recalled seasoning and should dispose of the product immediately.
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The FDA said consumers who purchased the affected products should not consume the seasoning and should throw it away immediately.
Customers who purchased the affected products may contact Blackstone Products at 1-888-879-4610 to receive a replacement product or ask additional questions.
https://www.foxbusiness.com/lifestyle/blackstone-seasoning-blend-recalled-over-possible-salmonella-contaminationMarty Makary resigns as FDA commissioner following industry and White House backlashMakary's tenure was marked by internal dysfunction at the FDA, leadership turmoil and mounting backlash from drugmakers and physicians on regulatory decisions.{}
United Airlines flight attendants ratify new contract with 31% raises this summerUnited Airlines flight attendants ratify labor deal that would provide first raises in nearly six years.{}
Gen Z shoppers helping revive America’s malls with push for in-person experiencesMalls are redesigning spaces with social media-friendly features and experiences like rock climbing to attract Gen Z shoppers and their spending.
Gen Z shoppers are helping fuel a new chapter for America’s malls as younger consumers increasingly favor in-person shopping experiences over simply filling online carts. Their spending habits are becoming a major focus for retailers and mall operators looking to adapt to changing consumer behavior.
FOX Business’ Madison Alworth joined FOX Business’ Stuart Varney on "Varney & Co." to report on how malls are redesigning spaces and adding new experiences aimed at younger shoppers, from social media-friendly dressing rooms to activities like indoor rock climbing walls.
BURLINGTON TO OPEN OVER TWO DOZEN NEW STORES ACROSS COUNTRY IN MAY
According to data firm NielsenIQ, Gen Z retail spending is expected to surpass $12 trillion globally by 2030, with growth outpacing every other generation. Data from Circana also found shoppers between 18 and 24 years old made 62% of their general merchandise purchases in physical stores last year, compared to 52% among consumers 25 and older.
Those trends come as broader retail spending has remained resilient despite ongoing economic uncertainty. U.S. retail sales rose 0.5% in April from the previous month and climbed 4.9% year over year, according to Commerce Department data released Thursday, showing consumers are still spending even as higher interest rates continue pressuring household budgets.
Macerich Executive Vice President of Asset Management Cory Scott said younger shoppers are increasingly prioritizing experiences alongside purchases.
WALMART CUTTING OR RELOCATING ABOUT 1,000 CORPORATE JOBS
"They value experiences almost more than they value material things. So it's as much about the journey as the shopping and the things that they're taking home with them," Scott said.
Some Gen Z shoppers told FOX Business malls offer a social connection that online shopping cannot fully replace.
One shopper said, "We grew up during like quarantine… Getting out and hanging out with people was a very big thing we didn't appreciate during that time… As we grow older, we see that we need to be doing these things and it's kind of fun."
https://www.foxbusiness.com/media/gen-z-shoppers-helping-revive-americas-malls-with-push-in-person-experiencesAmazon accused of keeping hundreds of millions in tariff costs to curry favor with Trump administrationAmazon faces a class action lawsuit accusing the company of retaining unlawful tariff costs instead of refunding consumers who paid higher prices.
Amazon is facing a new class action lawsuit accusing the company of failing to refund tariff-related costs it passed on to consumers through higher prices in order to appease the Trump administration.
Consumers allege in a proposed lawsuit filed in Seattle that the tech giant collected hundreds of millions of dollars in unlawful tariff costs by raising prices on imported goods before the U.S. Supreme Court ruled in February that President Donald Trump lacked authority under the International Emergency Economic Powers Act (IEEPA) to impose certain tariffs.
While thousands of companies have sought billions of dollars in refunds from the government following the ruling, Amazon has failed to do so, the complaint states, "not because it lacks a legal basis to do so, but because it seeks to curry favor with Trump by allowing the federal government to retain the funds."
"Amazon’s decision to forgo recovery serves its own political and commercial interests at the direct expense of the consumers who bore the tariff costs in the first place," the lawsuit alleges.
AMAZON’S 30-MINUTE DELIVERY PUSH RAISES STAKES IN RACE FOR SPEED
"The problem is that the funds Amazon is using to stay in the President’s good graces do not belong to Amazon," the complaint continues. "These funds were wrongfully taken from consumers to cover IEEPA tariffs that have since been invalidated. Those funds belong to the consumers who paid them."
The lawsuit also alleges Amazon "has no intention" of returning the costs passed on to consumers.
"It has, in short, generated and retained a windfall from unlawful government action, and consumers — not Amazon — are the ones left paying for it," the filing states.
The complaint accuses Amazon of unjust enrichment and violating Washington state’s consumer-protection law.
MORE THAN 125,000 CHILDREN’S TOWER STOOLS RECALLED NATIONWIDE DUE TO POSSIBLE DEADLY DEFECT
The legal clash comes after consumers filed similar lawsuits against companies, including Nike and Costco, over claims they failed to pass tariff-related refunds on to customers.
The lawsuit against Amazon also alleges the company faced White House pushback in April 2025 after reports surfaced that it was considering displaying how much of a product’s cost stemmed from IEEPA tariffs.
Amazon denied the report, saying it never considered listing tariff-related prices on its main retail site. However, the lawsuit alleges the report prompted Trump to call Amazon Executive Chairman Jeff Bezos to complain.
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More than 2,000 companies have filed suits in the U.S. Court of International Trade seeking to recover tariffs paid on imported goods.
FOX Business has reached out to Amazon and the White House for comment.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/amazon-accused-keeping-hundreds-millions-tariff-costs-curry-favor-trump-administrationThe summer box office is off to a hot start as weekend ticket sales top $160 millionThe summer box office is off to a sizzling start, thanks in part to strong week-after-week performance from returning titles.{}
At TV upfronts, AI is in and corporate shuffles are reshaping the lineupAdvertisers will be hearing about the slate of live events in the coming year — and how AI is being integrated. Plus, media consolidation reshapes the lineup.{}
NYC Mayor Zohran Mamdani says he's tried to meet with billionaire CEO after 'Tax the Rich' video backlashMayor Zohran Mamdani says he reached out to Citadel CEO Ken Griffin for a meeting after the billionaire criticized his viral tax-the-rich video.
New York City Mayor Zohran Mamdani said Friday he has attempted to meet with billionaire Citadel CEO Ken Griffin after the hedge fund executive blasted the mayor’s viral "Tax the Rich" video targeting him.
Mamdani said a member of his team reached out to Griffin but had not received a response.
"We reached out to set up a meeting," Mamdani said Friday. "We're still waiting to hear."
"That continues to be an open invitation, and it’s part of invitations that I’ve made to a number of business leaders across the city," he continued. "I’m there to listen and there to have a conversation that goes beyond places of agreement, but perhaps places of disagreement to hear honest reflection and critique, without putting any precondition on the nature of that conversation."
The outreach comes after Mamdani posted a video on April 15 highlighting Griffin’s property while promoting a new pied-à-terre tax proposal.
In the video, the mayor — who has pledged to raise taxes on wealthy New Yorkers — stood outside Griffin’s 24,000-square-foot penthouse, which Griffin purchased in 2019 for $238 million, the most expensive residential sale in U.S. history.
Griffin later criticized the video, calling it a "creepy and weird" political advertisement.
A spokesperson for Griffin did not say whether he plans to meet with the mayor.
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"Ken cares deeply about New York City and welcomes thoughtful, serious conversations about the policies that can grow the city’s economy and create more opportunity for all New Yorkers," the spokesperson said in a statement to FOX Business. "Reckless political theater serves no purpose and undermines the future of one of the world’s most important cities."
In the April video promoting higher taxes on wealthy New Yorkers and a pied-à-terre tax on second homes, Mamdani singled out Griffin’s penthouse as an example of what he called a "fundamentally unfair system."
"This is an annual fee on luxury properties worth more than $5 million whose owners do not live full-time in the city—like this penthouse, which hedge fund CEO Ken Griffin bought for $238 million," Mamdani said in the video.
Speaking at the Milken Conference in Los Angeles earlier this month, Griffin said Mamdani’s "frightening" video reaffirmed his decision to "double down" on business in Miami.
MAMDANI THANKS SAME BILLIONAIRE HE TARGETED IN TAX VIDEO FOR NYPD MONEY
"Mamdani has made it very clear—New York does not welcome success," Griffin said during the panel.
Citadel is currently building a new headquarters in Miami, and Griffin reiterated plans to expand the company’s presence in Florida, citing the state’s pro-business policies.
The mayor’s office previously told Fox News Digital that Mamdani "wants all New Yorkers to succeed," including Griffin, whom it described as a major employer in the city.
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"That does not negate the fact, however, that our tax system is fundamentally broken," the statement continued. "It rewards extreme wealth while working people are pushed to the brink."
"The status quo is unsustainable and unjust," it added. "If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share."
FOX Business' Nikolas Lanum and Alexandra Koch contributed to this report.
https://www.foxbusiness.com/media/nyc-mayor-zohran-mamdani-says-hes-tried-meet-billionaire-ceo-after-tax-rich-video-backlashCheck your freezer: Organic ice cream recalled in 17 states over possible metal fragmentsStraus Family Creamery issued a voluntary recall for select organic ice cream flavors distributed across 17 states after discovering the possible presence of metal fragments.
An organic ice cream brand has recalled select flavors over the potential presence of metal fragments, according to the U.S. Food and Drug Administration (FDA).
Straus Family Creamery, based in Northern California, voluntarily recalled a limited number of production runs of its Organic Super Premium Ice Cream on Wednesday after the company discovered the potential presence of foreign metal material, according to an FDA report published Friday.
The recall impacts select pint and quart containers of vanilla bean, strawberry, cookie dough, Dutch chocolate and mint chip ice cream distributed to retailers in 17 states: Arizona, California, Colorado, Connecticut, Florida, Georgia, Iowa, Illinois, Indiana, Maryland, New Jersey, Oregon, Pennsylvania, South Carolina, Texas, Washington and Wisconsin.
Not all Straus Family Creamery ice cream products are affected by the recall. The company said the recall applies only to certain production runs identified by "best by" dates ranging from Dec. 23, 2026, through Dec. 30, 2026.
DOZENS OF ICE CREAM PRODUCTS RECALLED OVER UNDECLARED ALLERGENS POSING 'LIFE-THREATENING' RISK
The affected products began appearing on store shelves on May 4. Consumers can identify recalled products by the "best by" date printed in black on the outside bottom of the container.
According to the FDA, no injuries or illnesses have been reported in connection with the recalled products.
In its recall notice published by the FDA, Straus Family Creamery said it is "working with retailers to remove the potentially affected products from shelves."
Consumers are urged not to eat the recalled ice cream and should discard the product rather than return it to stores.
ICE CREAM SOLD AT WALMARTS ACROSS 16 STATES RECALLED DUE TO UNDECLARED ALLERGEN
Customers seeking a voucher for a replacement product can visit the company’s recall website.
Consumers with questions can contact Straus Family Creamery at support@strausmilk.com or 1-707-776-2887 Monday through Friday from 9:30 a.m. to 5 p.m. PT.
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Last month, California-based Loard’s Ice Cream recalled dozens of products sold in Northern California over undeclared allergens including milk, eggs, wheat, peanuts and soy, according to the FDA. No illnesses were reported in that recall.
A representative for Straus Family Creamery did not immediately respond to FOX Business’ request for comment.
https://www.foxbusiness.com/lifestyle/check-freezer-organic-ice-cream-recalled-17-states-over-possible-metal-fragmentsGM cutting hundreds of salaried IT workers as it trims costs, evaluates needsGeneral Motors is laying off hundreds of salaried employees in its information technology operations.{}
April home sales disappoint as higher mortgage rates weigh on buyersHome sales barely moved in April, as mortgage rates shot higher the month before and uncertainty over the war with Iran weighed on consumers.{}
Honda posts first-ever annual loss in nearly 70 years as electric vehicle bet backfiresHonda posts its first-ever annual loss since 1957 as its electric vehicle bet leads to $9 billion in restructuring costs amid Trump's policies.
Honda Motor posted its first-ever annual loss this week since it was first listed on the stock market in 1957.
The Japanese car company’s bet on electric vehicle sales left it with $9 billion in restructuring costs due to low demand and President Donald Trump’s "Made in America" policies.
"EV demand has declined considerably, due to the rollback of environmental regulations in the U.S. and other factors," Honda said in a statement.
CEO Toshihiro Mibe said on Thursday that the company, which suffered a $2.7 billion loss, would also abandon its target to make electric vehicle sales 20% of profits by 2030.
TRUMP ESCALATES BATTLE WITH NEWSOM, SHUTTING DOWN GOVERNOR'S LEFT-WING RULES ROCKING CAR INDUSTRY
The company had also previously set a goal to fully move to electric or fuel-cell vehicles by 2024.
Losses related to its electric vehicle operations are expected to reach $16 billion, the company said.
The Trump administration has moved away from electric vehicle incentive programs, including blocking California’s stringent electric vehicle mandates and removing former President Joe Biden's EV tax credit.
MASSIVE HONDA RECALLIMPACTS 440K VEHICLES OVER AIRBAGS POTENTIALLY DEPLOYING 'UNEXPECTEDLY'
Honda, however, stemmed the bleeding through an increase in motorcycle sales – 20 million more than last year, which translated to a half a percent increase or $138 billion for the fiscal year through March.
Honda, which makes the Accord sedan and Super Cub motorcycles, sold 3.4 million vehicles around the world in the fiscal year through March, down from 3.7 million the previous year.
The company is the main motorcycle seller in some markets, including India.
Despite the loss, Honda is still forecasting a $1.7 billion profit for the fiscal year through March 2027.
"We will continue our research to develop future technologies including electric vehicle batteries," Mibe said. "We will get back on a growth track," adding that the company will continue a goal of carbon neutrality while acknowledging the need to work on hybrids and regular gasoline-engine models as well.
Reuters and the Associated Press contributed to this report.
https://www.foxbusiness.com/retail/honda-posts-first-ever-annual-loss-nearly-70-years-electric-vehicle-bet-backfiresCoca-Cola shutting down California facility after more than a centuryAfter more than a century in the community, the Ventura Coca-Cola distribution center is slated to shut down this summer following a May 8 WARN notice.
A large Coca-Cola bottling plant in Southern California will shut down permanently this summer, ending a longstanding relationship between the company and the city.
Reyes Coca-Cola Bottling made the announcement in a May 8 WARN (Worker Adjustment and Retraining Notification) notice – a legally required 60-day "heads-up" that employers must give to workers before a major layoff or office closure.
"We regularly assess our locations, products, and services to ensure we can continue driving sustainable growth and innovation across our business," a spokesperson for Reyes Coca-Cola Bottling wrote to SFGATE. "As such, we have announced the closure of our Ventura Distribution Center and the transfer of operations to our other Southern California facilities."
COCA-COLA'S SUGARCANE SHIFT: STATES THAT COULD BENEFIT FROM THE BEVERAGE GIANT'S LATEST MOVE
The closure of the Ventura plant will impact 85 employees, the company said.
"Most (78) will be reassigned to other RCCB facilities," the spokesperson said. "Additionally, affected employees have the option of applying for any open roles for which they are qualified within RCCB and our sister companies."
The last day of operations will be July 10, Reyes Coca-Cola Bottling said. The roles slated for elimination include drivers, fleet mechanics, merchandisers and customer growth representatives.
The facility was most recently used as a distribution center. The closure will end Ventura's long relationship with Coca-Cola, which spanned more than a century, according to local reports.
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FOX Business has reached out to Reyes Coca-Cola Bottling and the city of Ventura for further comment.
A Coca-Cola plant in American Canyon, California, closed last year, laying off 135 employees in August 2025. That same month, Reyes Coca-Cola Bottling closed its Salinas plant after more than seven decades, SFGATE reported.
https://www.foxbusiness.com/retail/coca-cola-shutting-down-california-facility-after-more-than-centuryJPMorgan Chase-led bank group reins in credit line to troubled KKR private credit fund as losses mountThe KKR fund, often referred to by its ticker, FSK, has become one of the most visible fault lines in the private credit story.{}
The wealthy keep buying Manhattan real estate despite potential pied-à-terre taxReal estate sales in Manhattan worth $4 million or more increased in the past month, according to Olshan Realty.{}
Coca-Cola shutting down California facility after more than a centuryAfter more than a century in the community, the Ventura Coca-Cola distribution center is slated to shut down this summer following a May 8 WARN notice.
A large Coca-Cola bottling plant in Southern California will shut down permanently this summer, ending a longstanding relationship between the company and the city.
Reyes Coca-Cola Bottling made the announcement in a May 8 WARN (Worker Adjustment and Retraining Notification) notice – a legally required 60-day "heads-up" that employers must give to workers before a major layoff or office closure.
"We regularly assess our locations, products, and services to ensure we can continue driving sustainable growth and innovation across our business," a spokesperson for Reyes Coca-Cola Bottling wrote to SFGATE. "As such, we have announced the closure of our Ventura Distribution Center and the transfer of operations to our other Southern California facilities."
COCA-COLA'S SUGARCANE SHIFT: STATES THAT COULD BENEFIT FROM THE BEVERAGE GIANT'S LATEST MOVE
The closure of the Ventura plant will impact 85 employees, the company said.
"Most (78) will be reassigned to other RCCB facilities," the spokesperson said. "Additionally, affected employees have the option of applying for any open roles for which they are qualified within RCCB and our sister companies."
The last day of operations will be July 10, Reyes Coca-Cola Bottling said. The roles slated for elimination include drivers, fleet mechanics, merchandisers and customer growth representatives.
The facility was most recently used as a distribution center. The closure will end Ventura's long relationship with Coca-Cola, which spanned more than a century, according to local reports.
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FOX Business has reached out to Reyes Coca-Cola Bottling and the city of Ventura for further comment.
A Coca-Cola plant in American Canyon, California, closed last year, laying off 135 employees in August 2025. That same month, Reyes Coca-Cola Bottling closed its Salinas plant after more than seven decades, SFGATE reported.
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Meet the YouTube whisperers, a booming class of advisors behind MrBeast and other million-dollar channelsA burgeoning group of YouTube strategists are charging big money to YouTubers who want to expand their popularity.{}
Target is trying to win back busy families from Walmart, starting with the baby aisleTarget is refreshing its baby category as part of a broader effort to offer better products and more convenience to compete with Walmart and Amazon.{}
Why one of the nation's largest auto lenders isn't worried about high vehicle prices or 'forever loans'While median car payments have jumped from $390 to $525 since 2019, data provided by Capital One suggests stability in vehicle cost compared to income.{}
Media As Bedrock for Developing Russian-African Relations
MOSCOW, May 18 (IPS) - Under the auspices of the Faculty of Journalism of Lomonosov Moscow State University, the Russian-African Club, in late April, held its IV International Forum of Journalists from Russia and Africa, which marked another historical milestone. According to an established annual tradition, discussions were focused on aspects of the media, its structure, current performance, information contents, and challenges as well as future perspectives.
https://www.globalissues.org/news/2026/05/18/43057 {"url":"https://static.globalissues.org/ips/2026/05/rmda_-100x100.jpg"}Africa’s Golden Future
NAIROBI, Kenya, May 18 (IPS) - It is very appropriate that this Africa Forward Summit is being held in Kenya. Two weeks ago, a Kenyan marathon runner, Sabastian Sawe, did what had been considered impossible: by running a marathon in under two hours! What we have set ourselves here is also a marathon—and we must show the same resilience and perseverance that Mr. Sawe did.
Read the full story, “Africa’s Golden Future”, on globalissues.org →
https://www.globalissues.org/news/2026/05/18/43056 {"url":"https://static.globalissues.org/ips/2026/05/afs_180526_-100x100.jpg"}Trump vindicated as OPEC faces collapse following UAE departureThe UAE's departure from OPEC could trigger a domino effect, experts say, potentially leading to lower gasoline prices within the next year or so.
The price of gasoline is set to drop as the Organization of Petroleum Exporting Countries (OPEC) appears poised to collapse, experts predict. OPEC has long kept crude oil prices higher than they would otherwise be. If this pans out, it will be a major victory for the Trump administration, which is resetting global energy markets.
The news of a probable end of the oil cartel also vindicates President Donald Trump, who has previously said OPEC is "ripping off the rest of the world." For a long time, the president has led a pressure campaign against OPEC, which has vast crude oil reserves that could easily be pumped. But the organization restricts the number of barrels of oil that each country may pump each day. That keeps gasoline prices elevated across the U.S. and much of the rest of the world.
Phil Flynn, senior market analyst at The PRICE Futures Group and a FOX Business contributor said, "Over time, the breakup of the cartel should cause gas prices to fall. With more player pricing, oil only being contained by market forces should lead to an ounce of supply and lower prices. Competition is good as it lowers prices and collusion by producers raises prices."
WHAT A UAE EXIT FROM OPEC MEANS AND WHY IT MATTERS
The poster child for the possible beginning of the end of OPEC came in late April when the United Arab Emirates (UAE) announced it would quit OPEC and OPEC+ on May 1.
Flynn linked the U.S.-Israel war with Iran as a historic marker. "I think that is a real possibility and more OPEC countries want to control their own destiny. In fact, when we look back at one of the strategic victories from Operation Epic Fury, it is that it has changed the face of the OPEC cartel forever and shifted energy dominance from the cartel back into our hemisphere. The UAE was getting tired of playing second fiddle to Saudi Arabia, the de facto leader of the cartel. The UEA wants to assert its leadership and has a competitive goal to not only increase oil production in the long term, but it wants to assert itself as the leader of the region."
The simple act of the UAE quitting the cartel led immediately to OPEC losing out in a big way.
"[The UAE’s] departure removes both production weight and institutional credibility, and that's got to be a concern to Saudi Arabia and others who remain," says Elaine Dezenski, head of the Foundation for the Defense of Democracies' (FDD) center on economic and financial power. "I think we're now seeing one of the final nails in the coffin for OPEC. We're seeing alignment from the UAE towards the U.S., which is, I think, part of a broader economic statecraft."
Some analysts say there is also a high likelihood that the UAE’s decision to leave OPEC could trigger a domino effect. Other OPEC countries will have seen the news that the UAE will be able to increase their daily production from slightly more than three million barrels a day to five million next year. That gain in production could easily prompt countries such as Iraq to jump ship, as they would then be free to pump as much oil as they can and need rather than be constrained by OPEC quotas.
HOW VENEZUELA WENT FROM SOUTH AMERICA'S RICHEST TO POOREST ECONOMY DESPITE MASSIVE OIL RESERVES
Not everyone sees the cartel's end.
"OPEC+ is not built around noise. It is built around capacity, credibility, and coordination," Salman Al-Ansari, a Saudi geopolitical analyst, told FOX Business. "On these fronts, the UAE is not among the most decisive players in the group. Politically, this appears less like a major economic rupture and more like a symbolic move to signal leverage and independence. But symbolism does not always translate into influence."
Al-Ansari doesn't foresee a collapse of OPEC. "I believe OPEC+ can continue to function and thrive," he said. "The institution has managed internal differences before, and its strength ultimately depends on disciplined coordination rather than political signaling."
But there’s an additional aspect to OPEC's potential downfall.
"Cartels have a long history of working efficiently for a while and then collapsing," Pete Earle, director of economics and economic freedom at the American Institute for Economic Research, told FOX Business. The reason for that is that members of oil cartels have an incentive to produce more fuel than their OPEC production quota. And, the cheating can ultimately lead to a breakdown of the organization, he said.
There are some things that will be different if OPEC disappears. "I don't know whether American energy producers, oil producers, will feel happy about a lower oil price," said Bernard Haykel, a senior fellow at FDD.
That said, major American energy companies are highly innovative at adapting to economic changes. They have done so for many decades, so lower prices might not pose a significant challenge.
Earle also said that while oil prices will come down without OPEC, they will be more volatile, making for a roller-coaster ride for anyone buying gasoline. However, there are ways for energy companies to use sophisticated financial derivatives to smooth some of the volatility.
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Earle said some countries rely heavily on oil revenues, and falling prices might lead to unintended consequences. "Lower, less stable prices that would possibly translate into domestic instability." He continued, "Iraq and Nigeria would probably be impacted by instability."
Whatever happens to OPEC, there is some good news on the horizon.
"We're likely to see lower prices in the future. I'm not talking now or in six months, but let's say a year from now, once things get back to normal, you'll see a much lower price because of this UAE decision," Haykel said.
Flynn, a FOX Business contributor, said, "OPEC is not only on life support, it is dead in the traditional sense. This is no longer your daddy’s OPEC and oil politics have changed forever because of what has happened since Operation Epic Fury. Still, as long as Saudi and Russia, their non-OPEC competitor, stay together, they are still a force that cannot be ignored.
https://www.foxbusiness.com/energy/trump-vindicated-opec-faces-collapse-following-uae-departure