Popular teething toy sold on Amazon for years recalled over choking hazard for childrenGOPO TOYS Pull String Teething Toys sold on Amazon are recalled after at least three choking reports. Over 70,000 units pose a deadly hazard.

A teething toy that has been sold on Amazon for years is being recalled after at least three reports of choking, according to the U.S. Consumer Product Safety Commission (CPSC).

The GOPO TOYS Pull String Teething Toys "violate the mandatory standard for toys because the silicone strings are smaller and longer than permitted," the commission said in an alert. "The strings can reach the back of children’s throat and become lodged, posing a serious risk of respiratory distress and deadly choking hazard."

The recall was issued on Thursday and includes more than 70,000 units of the product.

Consumers should immediately stop children from using the toy and contact GOPO Toys for a full refund, the commission said, adding that consumers will be asked to destroy it by cutting all the silicon strings and writing "DESTROYED" in permanent marker on the toy.

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A photo should be sent to recalls@gopotoys.com and the teething tooth thrown out.

The toys were sold on Amazon between August 2023 and March 2026 and were distributed from San Bernardino, California, and made in China.

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At least three children had the toy reach the back of their throat, "resulting in respiratory distress or choking," the CPSC said.

Earlier this month, 40,000 reusable baby bottles sold at Walmart were recalled over a potential choking hazard.

And in January, the CPSC announced a recall of another teething toy that also had a choking risk after dozens of incidents.

Approximately 6,800 Yetonamr pull-string teething toys were recalled at the time due to violations of mandatory toy safety standards.

The Yetonamr toy is similar in design to the GOPO TOYS product.

https://www.foxbusiness.com/lifestyle/popular-teething-toy-sold-amazon-years-recalled-choking-hazard-children

Ubisoft co-founder Claude Guillemot killed in plane crash that claimed 2 livesClaude Guillemot, one of the five brothers who founded Ubisoft in 1986, reportedly died in a twin-engine plane crash in La Baule, France.

Claude Guillemot, the co-founder of French video game giant Ubisoft, died Friday in a plane crash in La Baule, the company confirmed to FOX Business.

Guillemot, 69, was one of two people aboard a twin-engine Cessna 421 plane, both of whom died in the wreck, according to a report from local newspaper Ouest-France.

The French Atlantic coast town had a planned air show over the weekend, according to the outlet.

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In a statement to FOX Business on Saturday, Ubisoft said it was "deeply saddened to learn of the death of Claude Guillemot, co-founder of the Group and President of Guillemot Corporation, in an accident."

According to Ubisoft’s website, Guillemot and his four other brothers founded Ubisoft in 1986.

Guillemot worked behind the scenes and played a pivotal role in advancing the original mail-order software business, Reuters reported.

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One of Guillemot’s brothers, Yves, serves as CEO of the gaming powerhouse.

Under Yves' ongoing leadership of more than 30 years, the brothers' early strategy of nurturing in-house talent and developing original brands has driven the company’s success amid tech disruptions and industry transformations, according to Ubisoft’s website.

"Our thoughts are with his family ⁠and loved ones during this difficult time," the company told FOX Business.

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Ubisoft said no further statements would be released at this time.

https://www.foxbusiness.com/technology/ubisoft-co-founder-claude-guillemot-killed-plane-crash-claimed-2-lives

Dem senators urge FCC to pause Paramount-Warner Bros Discovery merger over foreign investor concernsThe senators argued that FCC Chairman Brendan Carr needs to perform more due diligence on the foreign ownership of the Paramount-Warner Bros. entity.

Three Democratic senators have urged the Federal Communications Commission (FCC) to put the Paramount-Warner Bros. Discovery merger on pause over concerns about foreign investors controlling what would be one of the largest media companies in the United States.

In a joint letter to FCC Chairman Brendan Carr, senators Cory Booker, D- N.J.; Adam Schiff, D-Calif.; and Elizabeth Warren, D-Mass., demanded he "must foreclose any attempt by Paramount to close this transaction" before an adequate review of the involved foreign investors is completed.

The lawmakers said the FCC must conduct this review to evaluate possible "national security threats posed by foreign government investment" in the $110 billion entity. If approved, the merger would bring CNN and CBS News under one corporate owner, further consolidating the news media landscape.

Paramount, led by CEO David Ellison, acknowledged in an April financial disclosure cited by the senators that foreign ownership in the new corporation will rise to "approximately 49.5 percent." In that document, Paramount also said that all voting rights will be "controlled by the Ellison family through U.S. entities."

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The document revealed that Saudi Arabia's public investment fund and various entities based in the United Arab Emirates and Qatar would be equity holders.

Paramount told the FCC in April that this arrangement would not present "any national security, law enforcement, or foreign or trade policy concerns."

The senators want a more rigorous check of what this level of foreign ownership would mean, telling Carr in their letter that he should not take the Ellison family's statements "at face value."

They argued that the FCC should reject Paramount's petition for preemptive approval. Under Section 310 of the 1934 Communications Act, foreign individuals, companies and governments are generally prohibited from owning more than 25% of a U.S.-based firm that has an FCC-issued broadcast license.

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Booker, Schiff and Warren gave Carr a July 1 deadline to notify Paramount that the deal cannot close until the foreign investment review is completed.

The FCC's pending approval is the largest regulatory hurdle in the way of the merger. The Department of Justice signaled last week it would not challenge Paramount's bid to acquire Warner Bros.

The DOJ's antitrust division concluded after an eight-month review that "the transaction is not likely to result in harm to competition or American consumers" with regard to on-demand streaming, linear television and studio development and the production and distribution of films.

Warren criticized this decision by the DOJ and urged state attorneys general to continue fighting the transaction. California Attorney General Rob Bonta was already leading a coalition of states in preparing a lawsuit to block Paramount from adding Warner Bros. to its growing portfolio.

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More than 5,000 filmmakers and actors working in Hollywood signed an open letter in April furiously demanding that the merger be stopped. They argued that it would stifle competition and reduce job opportunities.

"Our industry is already under severe strain, in large part due to prior waves of consolidation. We have witnessed a steep decline in the number of films produced and released," according to the petition. "We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good."

https://www.foxbusiness.com/politics/dem-senators-urge-fcc-pause-paramount-warner-bros-discovery-merger-over-foreign-investor-concerns

SNAP restrictions could change what shoppers buy — and food giants are watchingSNAP food restrictions are spreading to more states, pressuring major food and beverage as consumers shift spending away from soda, candy and processed foods.{}

SNAP food restrictions are spreading to more states, pressuring major food and beverage as consumers shift spending away from soda, candy and processed foods.https://www.cnbc.com/2026/06/20/maha-snap-restrictions-junk-food-spending.html

DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business networkA Justice Department probe is reviewing transactions tied to a business network linked to Iran's supreme leader and its reported connections to Wall Street firms

The Department of Justice is investigating transactions tied to a business network linked to Iranian Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report.

Bloomberg reported federal investigators are examining how companies connected to Khamenei built a global investment portfolio with transactions involving Wall Street firms including JPMorgan Chase and Citigroup.

The reported probe is part of a broader Justice Department investigation into alleged money laundering and corruption involving entities tied to Khamenei, according to Bloomberg, which cited people familiar with the matter.

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JPMorgan Chase, Citigroup and the Department of Justice did not immediately respond to FOX Business' requests for comment.

Investigators are reviewing the role U.S. financial institutions may have played in processing or facilitating transactions linked to the network, though Bloomberg reported the investigation does not necessarily mean charges will be filed.

The reported inquiry comes as the Trump administration has intensified pressure on Iran and sought to crack down on sanctions evasion and illicit financial activity tied to Tehran and its leadership.

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The investigation could place renewed scrutiny on how major financial institutions identify and monitor potentially sanctioned entities operating through complex international ownership structures and investment vehicles, a longstanding challenge for global banks and regulators.

Bloomberg reported that investigators' primary focus is Khamenei and the network of businesses tied to him rather than the banks themselves.

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Khamenei became Iran's supreme leader after his father, Ayatollah Ali Khamenei, was killed in a joint U.S.-Israeli airstrike. As Iran's highest-ranking authority, he has final say over major state decisions, including foreign policy and the country's nuclear program.

The reported investigation comes amid heightened tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian regime.

https://www.foxbusiness.com/politics/doj-probes-jpmorgan-citigroup-transactions-tied-iran-supreme-leaders-business-network

Lauren Sánchez plays major role in deploying Bezos' full $10 billion climate fund by end of decade: reportLauren Sánchez Bezos has put her philanthropic goals front and center, aiming to smartly allocate her husband's $10 billion climate fund by 2030.

Over the last year, Lauren Sánchez Bezos has become a key player in determining which organizations and causes get donations from Jeff Bezos' $10 billion climate change fund.

According to Fortune, Sánchez Bezos has served as the vice chair of the Bezos Earth Fund since its early days in 2020, when she was the girlfriend of the Amazon multi-billionaire.

The fund, the largest contribution any individual has ever made to the environment, according to Northeastern University, is obligated to deploy all $10 billion by the end of the decade. So far, it has cut checks toward 335 grants, totaling $2.4 billion, according to the fund's website. 

Since Sánchez Bezos married her now-husband last year in a star-studded affair in Venice, she has become a more public-facing leader of the fund, often announcing new donations.

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In September 2025, she touted that the fund had disbursed $37.5 million in grants to protect 835,000 square miles of water surrounding a dozen nations in the Pacific Ocean. The initial amount was part of the fund's $100 million commitment to what she called "one of the boldest ocean conservation efforts ever attempted."

"The Pacific isn’t just a beautiful backdrop, it’s a lifeline," Sánchez Bezos said in a statement at the time. "Pacific Island nations and territories are setting the pace. We’re here to match that ambition and help turn it into protection at scale."

In October, she announced $30 million in awards to 15 teams who won the fund's "AI for Climate and Nature Grand Challenge." Each team received $2 million to jump-start their use of artificial intelligence to solve problems such as biodiversity loss and food insecurity.

"AI can be a powerful ally to help make the world a better place," said Sánchez Bezos. "These innovators, using AI, are showing us new possibilities by reimagining how we grow food, protect wildlife, and power our planet to make a true impact."

Other than environmental causes, Sánchez Bezos said in December that she and her husband committed $102.5 million to organizations fighting homelessness across the United States. That money comes from the Bezos Day One Families Fund, which has so far donated more than $850 million to outfits in all 50 states, Washington D.C., Puerto Rico and Guam.

JEFF BEZOS' GLOW-UP AND LAUREN SÁNCHEZ'S TRANSFORMATION OVER THE YEARS: PHOTOS

The Day One Families Fund is a portion of the total $2 billion Bezos and his wife plan to donate to nonprofits that help homeless families obtain stable housing. There is also an initiative to build and operate tuition-free pre-schools in areas of the country that lack education options.

The couple also gave a $5 million grant, along with the Bezos Courage & Civility Award, to David Flink, the founder of the Neurodiversity Alliance.

The New York-based non-profit provides mentors to students with learning disabilities. Sánchez Bezos has said she unknowingly grew up with dyslexia and struggled in school for years, later being diagnosed with the condition when she was in college.

Despite the Bezoses' charity, they have not donated nearly as much of their net worth as others who have similar levels of wealth. Most notably, the couple lags significantly behind MacKenzie Scott, the ex-wife of Bezos.

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According to Forbes, Scott has donated $26.4 billion over a period of seven years, representing a staggering 46% of her estimated $35.4 billion net worth. In 2025 alone, she was the most charitable person on Earth with $7.2 billion in donations.

Over his entire life, Bezos has given away $4.6 billion, which is less than 2% of his $266 billion net worth, per the Bloomberg Billionaires Index.

Bezos has also not signed the Giving Pledge, an initiative launched in 2010 by Warren Buffett, Bill Gates and Melinda French Gates that urges billionaires to give the majority of their wealth away in their lifetimes.

Scott has signed the pledge, but Bezos has not. He told CNN in 2022 that he intends to donate most of his money but said it was difficult to do that efficiently.

"It's not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I'm finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar," he said in the CNN interview.

https://www.foxbusiness.com/lifestyle/lauren-sanchez-plays-major-role-deploying-bezos-full-10-billion-climate-fund-end-decade-report

Americans’ 401(k) balances hit record levels in 2025Americans increased their median 401k account balances by 27 percent through 2025 as automatic employer enrollment expanded plan participation nationwide.

Americans' contributions to their 401(k) savings accounts hit record highs in 2025, according to a new report from Vanguard. 

Among employees with active 401(k) accounts in both December 2024 and December 2025, median account balances increased by 27%, according to the report, titled How America Saves 2026. 

Of those same participants, 94% saw an increase in their account balances, reflecting both a rise in contributions and strong returns from markets, according to the report. 

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The average account balance for a Vanguard 401(k) was $167,970 in 2025, a near $20,000 increase from the 2024 average of $148,153. The median account balance, meanwhile, also increased year over year, rising from $38,176 in 2024 to $44,115 in 2025. 

One factor the report cites as a potential impact on the higher contributions is a shift in automatic employee enrollment. 

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Some employers have shifted to automatically enrolling employees in 401k plans, with the share of Vanguard-defined contribution plans using automatic enrollment sitting at 61% in 2025 compared with just 10% in 2006. 

By reframing an employee's decision into opting out, rather than voluntarily opting in, employers encourage significantly stronger participation in retirement plans, according to the report. 

"With an autopilot design, individuals are automatically enrolled into the plan, their deferral rates are automatically increased each year, and their contributions are automatically invested in a balanced investment strategy. In such a plan, the decision to save is framed negatively: ‘Quit the plan if you’d like.' And ’doing nothing; leads to participation in the plan and investment of assets in a long-term retirement portfolio," the report states.

Employees deferred a similar percentage of their total incomes into plans in 2025 when compared with 2024, though deferral rates have broadly trended up in the last decade.

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The average deferral was 7.6% of an employee's income in 2025, the same as it was in 2024, per the report. The median rate was 6.6% in 2025 compared with 6.7% in 2024. 

A quarter of all participants had a deferral rate of over 10% of their incomes. That compared with just 20% of participants deferring more than a tenth of their income in 2016, the report noted.  

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The report wasn't all positive. Hardship withdrawals increased for the fourth straight year, rising to 6% in 2025 from 5% the previous year. While the report cited potential pressures from inflation and other economic challenges, it also noted that a recent streamlining in the process to apply for hardship withdrawals has "made retirement assets more accessible in times of need."

https://www.foxbusiness.com/personal-finance/americans-401k-balances-hit-record-levels-2025

Hong Kong: No Safety in Exile

Hong Kong: No Safety in Exile

LONDON, June 19 (IPS) - When performance artist Sammu Chen tried to tie a red thread to a streetpost, plainclothes police stopped him before he could finish. Chen has twice been detained for his symbolic acts of commemoration of the 4 June 1989 Tiananmen Square Massacre, when Chinese authorities killed hundreds, perhaps thousands, to crush democracy protests.

Read the full story, “Hong Kong: No Safety in Exile”, on globalissues.org →

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‘We Came for Action, Not Promises’: Developing Nations Voice Frustration as Bonn Talks Conclude

‘We Came for Action, Not Promises’: Developing Nations Voice Frustration as Bonn Talks Conclude

BONN, June 19 (IPS) - The United Nations June Climate Meetings (SB64) ended in Bonn with sharp disagreements between developed and developing countries over climate finance, adaptation support and emissions reductions, leaving negotiators with significant unresolved issues ahead of the COP31 climate summit in Antalya, Türkiye.

Read the full story, “‘We Came for Action, Not Promises’: Developing Nations Voice Frustration as Bonn Talks Conclude”, on globalissues.org →

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Mortgage rates fall to lowest level in over a month as Iran deal framework takes shapeThe average rate on a 30-year fixed mortgage fell this week to 6.47%, according to the latest Freddie Mac data released Thursday. That is down from last week's reading of 6.52%.

Mortgage rates fell this week to the lowest level in more than a month, mortgage buyer Freddie Mac said Thursday.

Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.47% from last week's reading of 6.52%. 

The average rate on a 30-year loan was 6.81% a year ago.

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"Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve," said Sam Khater, Freddie Mac's chief economist.

The average rate on a 15-year fixed mortgage fell to 5.81% from last week's reading of 5.84%.

Rates have been elevated of late as concerns over the Iran war weighed on markets. On June 17, President Donald Trump signed a memorandum of understanding while attending meetings in France, while Iran signed remotely. The temporary framework calls for an immediate cessation of hostilities, the reopening of the Strait of Hormuz, limits on Iran's enriched uranium stockpile and a 60-day window to negotiate a permanent agreement addressing Tehran's nuclear program.

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The deal also includes provisions to ease economic pressure on Iran, including access to some frozen assets and the lifting of certain restrictions, while drawing criticism from some conservatives who argue the agreement offers too many concessions without requiring Iran to immediately dismantle its nuclear infrastructure.

"The previous weeks have been filled with constant back-and-forths, showing progress toward a resolution, only to be followed by heightened military action," said Realtor.com senior economist Anthony Smith. "However, the latest rounds have proven more promising than previous periods of reprieve, as a tentative deal has now been drafted and now signed by President Trump."

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Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.45% as of Friday afternoon.

The U.S. central bank on Wednesday announced that it will hold interest rates steady due to concerns about elevated inflation amid the war in Iran, as new Federal Reserve Chairman Kevin Warsh's tenure leading the central bank begins in earnest.

Fed policymakers voted 12-0 to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the central bank's decision to hold rates steady in January, March and April following three successive 25-basis-point rate cuts in September, October and December to close out last year.

The Federal Open Market Committee (FOMC), the central bank's panel responsible for monetary policy moves, noted in its statement that inflation remains elevated above the central bank's 2% goal, which it said was "in part reflecting supply shocks that have driven price increases in certain sectors, including energy."

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"Warsh used his first decision as chair to signal a broader regime change: the easing bias is gone, forward guidance has been shelved, and the committee's statement was rewritten around a single, unhedged commitment to delivering price stability," Smith said. "Markets responded with a jump in the 10-year Treasury and rising odds of a rate hike before year's end. The logic of Warsh's approach, earning credibility by following through rather than telegraphing, is sound and ultimately the path to lower long-term rates. But a market without clear guidance may demand a premium in the near term, which could keep mortgage rates from falling as quickly as the Iran ceasefire alone might suggest."

FOX Business' Bradford Betz and Eric Revell contributed to this report

https://www.foxbusiness.com/economy/mortgage-rates-fall-lowest-level-over-month-iran-deal-framework-takes-shape

M&M's set August launch for dye-free candies, with 2 colors absentMars is offering artificial dyes-free M&M's in August following pressure from HHS Secretary RFK Jr.'s "Make America Healthy Again" initiative.

M&M's makers Mars will debut artificial dye-free candies in August in a Make America Healthy Again (MAHA)-compliant move after facing pressure from Health and Human Services (HHS) Secretary Robert F. Kennedy Jr.

But while the classic candy-maker was able to use natural sources like beets or turmeric to replicate colors like red and yellow, shades of blue have proven considerably more difficult and expensive to recreate naturally. 

Mars has been replicating blue and brown's artificial coloring using spirulina extract, a concentrated blue-green algae powder, but the substance is prohibitively expensive.

Turmeric, for example, is available in bulk from most wholesalers for prices in the $9-$11 per lb. range. Spirulina, by contrast, can be significantly more expensive. The raw supplement can cost up to $20 per lb. at similar wholesalers, while the concentrated form most often used for food dyes is often priced at over $100 per lb. 

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Furthermore, spirulina's viscous nature has caused clogging in M&M's factory spray nozzles and created film build-ups in manufacturing equipment, creating a potential safety and health hazard, The Wall Street Journal reported. 

The high costs associated with MAHA-ifying its products have driven Mars into a colorful dilemma, according to the Journal. Wanting to debut its altered product ahead of the company's 85-year anniversary in August, Mars has spent millions in an effort to find alternatives.

Given the high costs of reproducing blue, Mars considered just rolling out a three-color mix of red, orange and yellow, but executives felt "the sunset vibes were too strong," the Journal reported.

Anton Vincent, the leader of the company's North American snacks division, told the Journal the replacement effort "was a daunting situation," adding, "you’re messing with an 85-year-old icon."

WALMART ELIMINATING SYNTHETIC DYES FROM ITS PRIVATE-LABEL FOOD BRANDS

Mars had originally announced a plan to offer artificial dye-free products in 2016, but reversed the decision after announcing customers didn't seem to care. 

But, thanks to a Kennedy-led push to pressure companies to ditch artificial materials, Mars again announced in 2025 they would be pivoting to natural dye options. 

Kennedy Jr. has frequently criticized the use of artificial dyes in U.S. food products, calling them a key driver in numerous American health epidemics.

"When we look at these nine specific food dyes, the science shows a clear, undeniable link to behavioral disruptions in our kids and long-term cancer risks. We are systematically clearing them out," he said in a 2025 press conference with West Virginia's Republican Gov. Patrick Morrisey.

West Virginia became the first to sign into law a total ban on statewide sales of major artificial dyes in 2025.

Kennedy Jr.'s HHS added Mars to a list of 27 corporations that have pledged to remove artificial food dyes from certain products in his office's effort to eliminate petroleum-based food dyes from the U.S. food supply.

Federally, his office has formally banned four petroleum-based artificial food dyes, revoking Food and Drug Administration (FDA) authorization for brominated vegetable oil (BVO), Red Dye no. 3, Citrus Red No. 2 and Orange B. 

Kennedy Jr. has also pushed hard to get companies to phase out six other specific dyes — Red 40, Yellow 5, Yellow 6, Blue 1, Blue 2, and Green 3. 

His office has cited animal studies that linked consumption of specific artifical dyes to cancer risks and long-term behavioral dysfunctions. 

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The FDA cited the Delaney Clause, a provision requiring the institution to prohibit a chemical if it's found to cause cancer in humans or animals, after banning Red Dye No. 3 in 2025. Numerous long-term animal studies found the chemical linked to cancer development in rats. 

FOX Business contacted Mars and HHS for further comment. 

https://www.foxbusiness.com/politics/mms-set-august-launch-dye-free-candies-2-colors-absent

How AgricTech Cuts Labour for Zimbabwe’s Female Farmers

How AgricTech Cuts Labour for Zimbabwe’s Female Farmers

BULAWAYO, Zimbabwe , June 19 (IPS) - Long burdened by the labour-intensive nature of agriculture, Zimbabwe’s female farmers are finding relief in new agritechnologies that significantly reduce the time they spend in the field.

Read the full story, “How AgricTech Cuts Labour for Zimbabwe’s Female Farmers”, on globalissues.org →

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RightsCon’s Cancellation Signals a Growing Threat to Human Rights and Digital Freedoms

RightsCon’s Cancellation Signals a Growing Threat to Human Rights and Digital Freedoms

NEW YORK, June 19 (IPS) - RightsCon, the world’s leading summit on human rights in the digital age, has served for over a decade as a vital global gathering, bringing together civil society, academics, technologists, policymakers, and the private sector in cross-border collaboration. The abrupt cancellation of RightsCon 2026, following intervention by Zambia’s government just days before the convening was due to commence in Lusaka, should concern us all.

Read the full story, “RightsCon’s Cancellation Signals a Growing Threat to Human Rights and Digital Freedoms”, on globalissues.org →

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Income needed to afford a median-priced home has nearly doubled since 2020, report findsHarvard housing report finds U.S. home sales near lowest level in three decades as high costs and economic uncertainty suppress demand across the market.

A new report on the U.S. housing sector finds that activity remains subdued through the first part of the year as high costs suppress demand.

The Joint Center for Housing Studies of Harvard University released its annual "State of the Nation's Housing" report on Wednesday, which found that existing home sales remain near the lowest level in three decades that was first reached in 2023.

Sales of new homes remained relatively unchanged, while rental retention rates rose and new occupancies declined. New construction starts dipped 1% over the last year, driven by a 7% decline in single-family starts.

"Although supply shortages are still a major concern, depressed demand became a headline in housing over the past year," the report said, noting slower growth in the number of homeowner households as well as the number of renters compared with a year ago. 

MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 – RIGHT AS MILLENNIALS RETIRE

The rate of growth of homeowner households declined by half and caused homeownership rates to decline for the second straight year. Additionally, the year-over-year increase in the number of renters in the first quarter of 2026 was less than half of what it was a year earlier.

Economic uncertainty has weighed on housing demand, with employment growth slowing from a gain of 1.5 million in 2024 to just 116,000 in 2025.

Consumer confidence dropped by more than 20 percentage points in 2025 and fell further in the first part of 2026 due to the Iran war, reaching an all-time low in April.

MORTGAGE RATES TICK HIGHER, BUT BUYERS SHOW SIGNS OF CONFIDENCE

"Without a job, graduates are less likely to form a new household or move to a new region," the report said. "Without confidence in employment, families are less likely to move or make a big purchase like a house."

High costs and the lack of affordable housing options are also contributing to the weaker demand, as households are struggling with high home prices and interest rates.

MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED

The report said that the median prices for new and existing homes are both over $400,000 and that existing home prices have risen 54% since 2020 and are about 5-times the median income – a level well above the ratio of 3-times that prevailed in the 1990s.

Mortgage rates are over 6%, which makes the payment on a median-priced home $3,100 in the fourth quarter of 2025, up from $1,700 in early 2020. That has pushed the income needed to afford that payment to more than $120,000 – a significant increase from $66,000 in 2020.

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https://www.foxbusiness.com/economy/income-needed-afford-median-priced-home-has-nearly-doubled-since-2020-report-finds

One in three adults under 35 lives with parents as housing costs soar, data showsOne in three adults under 35 lived with a parent in 2025 as housing costs surge, with median home prices up 34.4% since 2019, according to new data.

The empty nest is filling back up.

Millions of young adults are delaying life on their own as high housing costs keep them living with mom and dad. In 2025, 25.2 million adults under 35 lived with a parent, according to new data from Realtor.com. That amounts to roughly one in three people in that age group.

The numbers point to a housing market that remains difficult to break into, even for young adults with jobs and college degrees, the outlet reported.

"The adults living with their parents today are largely employed, and many hold college degrees," Hannah Jones, senior economist at Realtor.com, said in a statement. "What's holding them back isn't a lack of qualifications, but rather, at least in part, a lack of housing they can actually afford. This is a supply story, not an employment story."

GOVERNMENT REGULATIONS ADD NEARLY $132K TO COST OF NEW HOME, BUILDERS SAY

That supply problem has been years in the making. The U.S. is short of roughly 4 million homes, with entry-level properties especially scarce. The gap has widened since construction slowed following the 2008 financial crisis, Realtor.com reported. 

About 70% of 25- to 34-year-olds living with their parents have jobs. In 2000, about one in nine employed adults in their late 20s lived at home. By 2025, that share had climbed to nearly one in seven.

For many young Americans, moving out has become increasingly expensive.

The national median home listing price is $430,000, up 34.4% from 2019, while the median asking rent has climbed to $1,673, up 17.9% over the same period, according to Realtor.com.

MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 — RIGHT AS MILLENNIALS RETIRE

The delayed move into independent living could eventually translate into a wave of future housing demand.

As affordability improves or more homes are built, millions of young adults who postponed renting or buying could enter the market, Realtor.com reported.

"Twenty-five million adults living with their parents represents a generation of latent demand the market hasn't absorbed," Jones said. "Every adult still in a childhood bedroom is a household not formed, a lease unsigned, a starter home unpurchased. The typical first-time buyer is now 40 — that's not a coincidence, it's the math of a market that hasn't built enough."

The delay can also have long-term financial consequences.

Each year spent living at home can delay a young adult’s ability to build housing equity, Realtor.com noted.

MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED

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The outlook is not getting easier. According to new projections from National Association of Realtors (NAR) chief economist Lawrence Yun, the national median home price is on track to hit $1 million by 2050 — just as millennials reach the traditional retirement age.

"Essentially, in about 25 years the national median home price will be a million dollars," Yun said at a conference in Washington, D.C., on Tuesday. "It may be hard to envision that, but back in 1990, the national median price was $90,000."

FOX Business' Kristen Altus contributed to this report.

https://www.foxbusiness.com/lifestyle/one-three-adults-under-35-lives-parents-housing-costs-soar-data-shows

Bob Iger reflects on 10 years of Shanghai Disneyland as it defies the Chinese pullbackShanghai Disneyland hit 100 million cumulative visitors in 2025, according to the company. It's a relatively new but important foothold in Disney's history.{}

Shanghai Disneyland hit 100 million cumulative visitors in 2025, according to the company. It's a relatively new but important foothold in Disney's history.https://www.cnbc.com/2026/06/19/bob-iger-shanghai-disneyland-chinese-pullback.html

Meta lobbies Congress for immunity from lawsuits alleging online harm to childrenMeta reportedly lobbied U.S. lawmakers for legal immunity from child harm lawsuits as part of the Kids Online Safety Act under Senate consideration.

Meta has lobbied U.S. lawmakers for legal immunity from lawsuits alleging child harm from its social media platforms such as Facebook and Instagram, according to a report.

This comes as Meta faces a wave of youth-safety litigation, including thousands of similar claims consolidated in California state courts and separate lawsuits brought by states and school districts. Meta and Google, which owns YouTube, were hit with a combined $6 million in damages after a Los Angeles jury found them negligent in a bellwether case alleging Instagram and YouTube were designed in ways that harmed a young user. Both companies have said they plan to appeal.

If language like Meta’s proposal is adopted by lawmakers and signed into law as part of the Kids Online Safety Act (KOSA) under consideration in the Senate, the provision could undermine pending and future complaints against Meta and other social media platforms regarding child safety.

Lawmakers have not said they would be open to adopting the language, but the lobbying effort shows the kind of legal protections Meta is seeking amid government attempts to regulate online platforms.

FEDERAL APPEALS COURT RULES OHIO CAN REQUIRE PARENTAL CONSENT CHILDREN UNDER 16 ON SOCIAL MEDIA

The proposed language would make online companies "immune from suit or liability under state law with respect to all claims for loss caused by, arising out of, relating to, or resulting from the safety or privacy of individuals under the age of eighteen online or otherwise related to the provisions" of KOSA, according to Reuters.

The proposal appears alongside language that seeks to have the federal measure overrule state laws on children's online safety and privacy.

Meta spokesperson Stephanie Otway told Reuters that the provision "does not extinguish existing lawsuits, nor does it represent blanket immunity."

"Instead, it establishes uniform national standards for online youth safety, ensuring these critical issues are governed by comprehensive federal legislation, not plaintiffs' lawyers or patchwork state legislation," she said.

But Julia Duncan of the American Association for Justice, a group that represents trial lawyers, said that if the provision were to be adopted, it would kill any lawsuits pending when the law took effect.

"The language is pretty clear-cut immunity against every parent, every school district, that is seeking to hold any AI or social media company accountable for harm" to children, Duncan said. "There is no other way to read this language."

Meta has proposed the language in exchange for dropping its efforts to oppose KOSA, a source told Reuters.

KOSA, sponsored by Sens. Marsha Blackburn, R-Tenn., and Richard Blumenthal, D-Conn., would require social media companies to take steps to prevent certain harms to minors, including compulsive use of their platforms.

The measure is now the subject of negotiations between Blackburn and the White House to package child online safety bills with a provision that would preempt some state laws regarding AI.

META THREATENS TO PULL FACEBOOK AND INSTAGRAM FROM NEW MEXICO OVER CHILD SAFETY TRIAL REQUIREMENTS

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"We have not seen that proposed language and would never consider it,"  a spokesperson for the GOP senator told Reuters.

Under the bill, tech companies would need to use care in adding specific features such as infinite scrolling, activity notifications and appearance-changing photograph filters. 

A woman won at trial earlier this year against Meta and Google, which owns YouTube, after her lawyers successfully argued the companies were aware these features were addictive and harmful to young people. The tech companies plan to appeal the ruling.

KOSA passed in the Senate in 2024 before failing in the House. The measure was reintroduced this year with support from both Senate Majority Leader John Thune, R-S.D., and Senate Minority Leader Chuck Schumer, D-N.Y.

Reuters contributed to this report.

https://www.foxbusiness.com/technology/meta-lobbies-congress-immunity-from-lawsuits-alleging-online-harm-children

Apple to work with Intel on US chip design and production, Trump saysPresident Donald Trump announced an Apple-Intel chip partnership as his administration pushes to bring semiconductor manufacturing back to the U.S. and reduce China reliance.

President Donald Trump said Thursday that Apple has agreed to work with Intel on designing and producing chips in the U.S.

"When I won my Second Term, it was clear America needed its Semiconductor Industry to come back to the U.S.A. We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America," Trump wrote on Truth Social.

The partnership could help Apple diversify its manufacturing base as it looks for additional chip capacity. The tech giant relies heavily ​on the Taiwan Semiconductor Manufacturing Company, which has advanced production ​lines in ⁠high demand from AI chipmakers such as Nvidia and Advanced Micro Devices.

APPLE CEO SAYS PRICE HIKES ARE 'UNAVOIDABLE' AS RISING CHIP COSTS SQUEEZE TECH GIANT: REPORT

Intel shares rose in premarket trading following the announcement from the president.

"The Technology the World relies on was invented in America. We all remember 'Intel Inside.' Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories," Trump said.

Intel reportedly reached a preliminary agreement to make some chips for Apple after more than a year of talks. Apple and Intel have not publicly detailed which chips or products would be involved.

HOW YOU CAN GET A SLICE OF APPLE'S $250M IPHONE SETTLEMENT

An Apple contract would give Intel steady demand from a top consumer electronics company after its reputation and manufacturing business fell behind TSMC in recent years.

Earlier this week, Intel announced that a new generation of its manufacturing technology, 18A-P, had entered initial production, as the chipmaker works to meet demand for advanced processors.

Last year, the Trump administration took a roughly 10% stake in Intel and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.

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The Trump administration took a roughly 10% stake in Intel last year and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.

Trump previously said he "should have asked for more" of a stake in Intel after the value of the federal government's Intel position rose sharply.

"When was the last time a President made America money??" Trump wrote on Thursday.

The administration has been boosting efforts to secure U.S. supply chains for critical minerals and semiconductors, including by taking equity stakes in companies as part of an effort to cut reliance on China.

Reuters contributed to this report.

https://www.foxbusiness.com/technology/apple-work-intel-us-chip-design-production-trump-says

NBA to begin naming winning bids for Europe teams in the coming months, deputy commissioner saysThe NBA plans to begin naming winning bidders for 12 permanent European teams in the next 60 to 90 days, Deputy Commissioner Mark Tatum told CNBC.{}

The NBA plans to begin naming winning bidders for 12 permanent European teams in the next 60 to 90 days, Deputy Commissioner Mark Tatum told CNBC.https://www.cnbc.com/2026/06/18/nba-europe-bids-mark-tatum.html

Costco gets exclusive Chobani coffee creamer inspired by viral Dubai chocolate trendChobani is launching a Costco-exclusive Pistachio Chocolate Coffee Creamer inspired by the viral Dubai chocolate trend sweeping food and beverage aisles.

Chobani is bringing a Dubai chocolate-inspired coffee creamer to Costco stores nationwide, becoming the latest food and beverage company to capitalize on consumer demand for the viral flavor combination.

The yogurt maker's new Pistachio Chocolate Coffee Creamer joins a growing list of Dubai chocolate-inspired products that have emerged as the trend expands beyond candy into coffee, shakes and other beverages. Companies including Starbucks, Shake Shack and Pepsi have all introduced products tied to the pistachio-and-chocolate flavor profile that gained popularity on social media.

Dubai chocolate typically refers to chocolate bars filled with pistachio cream and crispy kataifi pastry. The confection gained widespread attention on social media before inspiring a growing number of spin-off products across the food and beverage industry.

COSTCO SHOPPERS STOCK UP ON CULT-FAVORITE COOKIES AS DEMAND SURGES NATIONWIDE

The new creamer is part of Chobani's limited-run Flavor Drop line and will be sold exclusively at Costco. The company said the product features flavors of roasted pistachio and milk chocolate and is made with farm-fresh milk and real cream.

Retail exclusives and limited-time offerings have become increasingly common tools for consumer brands looking to generate buzz and drive sales. The strategy can also help companies test consumer demand for new products before considering a wider rollout.

The launch comes as food and beverage companies increasingly look to limited-edition products and viral food trends to drive consumer engagement and retail sales. Industry brands have moved quickly to introduce Dubai chocolate-inspired offerings as consumers continue to seek out products tied to the trend.

COSTCO SAYS ITS GAS STATIONS SET ALL-TIME VOLUME RECORDS AS CONSUMERS SEEK LOWER-PRICED FUEL

Chobani has expanded its creamer lineup in recent months with several seasonal and limited-edition flavors, including S'mores, Cookies and Cream and Cookie Butter. Earlier this year, the company also introduced an American Blueberry Flavor Drop tied to the upcoming America250 celebration.

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The Pistachio Chocolate creamer is arriving at Costco warehouses nationwide. Chobani said the suggested retail price is $7.49 for a 52-ounce bottle, though pricing may vary by location.

The product's release underscores the staying power of the Dubai chocolate trend, which has evolved from a social media sensation into a broader consumer packaged goods opportunity as brands compete for shoppers' attention in an increasingly crowded marketplace.

https://www.foxbusiness.com/lifestyle/costco-gets-exclusive-chobani-coffee-creamer-inspired-viral-dubai-chocolate-trend

Federal appeals court rules Ohio can require parental consent for children under 16 on social mediaA federal appeals court ruled Ohio can enforce a law requiring parental consent before children under 16 use social media, overturning a lower-court block.

A federal appeals court ruled Thursday that Ohio can enforce a law requiring parental consent before children under 16 can use social media, handing a victory to state officials who argue the platforms pose risks to young users.

In a 2-1 decision, the 6th U.S. Circuit Court of Appeals overturned a lower-court ruling that had blocked enforcement of Ohio's Social Media Parental Notification Act. The dissenting judge argued that the law likely imposes unconstitutional restrictions on minors' access to protected speech, reflecting concerns that had previously led a lower court to block the measure.

The law, which was passed by the Ohio legislature in 2023 and took effect in 2024, requires certain websites and social media platforms to verify users' ages and obtain parental consent before users under 16 can create or use accounts.

The measure includes an 11-factor test for determining whether a website is likely to be accessed by children, along with several exceptions.

MARK ZUCKERBERG ADMITS META HAS 'MADE MISTAKES' AS AI OVERHAUL RESHAPES 20% OF ITS WORKFORCE: REPORT

Ohio officials have said the law is intended to protect children from online harms, including exposure to harmful content, excessive social media use and data-collection practices

The law was put on hold following a legal challenge by NetChoice, a technology industry trade group whose members include YouTube, TikTok and Meta, the parent company of Facebook and Instagram.

NetChoice argued that the law was unconstitutionally vague and improperly restricted minors' access to speech protected by the First Amendment. The group has also argued that age-verification and parental-consent requirements can force users to disclose personal information before accessing protected online speech.

The appeals court disagreed.

"At bottom, the Act imposes a parental consent requirement," U.S. Circuit Judge Eric Clay wrote in the court's lead opinion.

META THREATENS TO PULL FACEBOOK AND INSTAGRAM FROM NEW MEXICO OVER CHILD SAFETY TRIAL REQUIREMENTS

"That requirement constitutes a marginal burden that precisely targets the multi-faceted problem that Ohio has identified: Children’s unsupervised assent to terms and conditions for use of platforms that take advantage of and harm them," he added.

In a statement provided to FOX Business, Ohio Attorney General Andy Wilson called the ruling a "win for Ohio families."

"The court agreed that parents — not social media companies — should get a say in what kids see online," Wilson said. "We have an obligation to keep our children safe, and today, the most dangerous place for our kids is the internet."

"This decision gives parents the tools to be involved and provide oversight," he added.

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NetChoice has mounted legal challenges to similar laws across the country aimed at restricting children's access to social media.

NetChoice criticized the ruling in a statement to FOX Business, arguing that it threatens the privacy and constitutional rights of Ohio residents. The group said it remains "fully confident" that the law will ultimately be struck down.

"An unconstitutional law protects no one, and we remain focused on ensuring the First Amendment rights of Ohioans are protected," Paul Taske, director of the NetChoice Litigation Center, said in a statement.

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"Parents must remain in the drivers’ seat for parenting decisions," Taske continued. "Ohio cannot step in and make those decisions in the first instance. But Ohio’s digital-ID law discards that constitutionally required dynamic. By requiring parents to override the government’s determination, Ohio has violated bedrock First Amendment principles."

Taske said NetChoice is reviewing its legal options moving forward.

Reuters contributed to this report.

https://www.foxbusiness.com/technology/federal-appeals-court-rules-ohio-can-require-parental-consent-children-under-16-social-media

California’s counting on an IPO tax windfall. Several factors are complicating the equationThe IPOs of SpaceX, OpenAI and Anthropic could create a tax windfall for the state of California. But experts say the revenue impact may be blunted.{}

The IPOs of SpaceX, OpenAI and Anthropic could create a tax windfall for the state of California. But experts say the revenue impact may be blunted.https://www.cnbc.com/2026/06/18/california-ipo-tax-windfall.html

Costco shoppers stock up on cult-favorite cookies as demand surges nationwideCostco shoppers are snapping up Tim Tams after the iconic Australian chocolate biscuits landed in warehouses nationwide, fueled by social media buzz.

Costco shoppers are snapping up a popular Australian snack that recently landed on shelves across the United States, highlighting growing demand for international food brands among American consumers.

Tim Tams, the chocolate-covered biscuits made by Australian food giant Arnott's, are now available in bulk packages at Costco warehouses nationwide. The product's arrival has generated significant attention online, with shoppers sharing photos of stocked shelves and discussing the cookies across social media.

The Original Tim Tam features two malted chocolate biscuits layered with a cocoa-flavored filling and coated in chocolate. The brand, which has been a staple in Australia since 1964, has developed a loyal following well beyond its home market.

Costco is selling the product in six-sleeve boxes containing 66 cookies for about $14, giving American consumers broader access to a snack that was previously available primarily through specialty retailers and international food stores.

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Social media has played a key role in driving interest. Many first-time buyers have been introduced to the "Tim Tam Slam," a popular Australian tradition in which consumers bite off opposite corners of the biscuit, use it as a straw to sip coffee or tea, and then eat the softened cookie before it dissolves.

The technique has gained visibility through TikTok videos and celebrity demonstrations. Australian actress Isla Fisher previously showcased the Tim Tam Slam on "The Kelly Clarkson Show," while "Succession" star Sarah Snook demonstrated the ritual during an appearance on NBC's "The Tonight Show Starring Jimmy Fallon."

The viral appeal of Tim Tams underscores a broader trend of international food brands finding new audiences in the U.S., particularly when social media helps introduce consumers to products and traditions that may be unfamiliar outside their home countries.

For Costco, the launch also reflects the retailer's ongoing effort to offer members products they may not find elsewhere. The warehouse giant has increasingly leaned on exclusive items, limited-time offerings and its Kirkland Signature private-label brand to differentiate itself from traditional grocery chains and competing warehouse clubs.

COSTCO SAYS ITS GAS STATIONS SET ALL-TIME VOLUME RECORDS AS CONSUMERS SEEK LOWER-PRICED FUEL

The Tim Tams rollout comes as Costco continues emphasizing value for shoppers. The retailer recently highlighted price reductions on several Kirkland Signature products, including chicken wings, chocolate-covered almonds and golf balls, as executives reiterated their goal of lowering prices when possible.

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The combination of exclusive products, private-label offerings and competitive pricing has helped Costco maintain strong consumer demand even as many households remain focused on stretching their grocery budgets.

Costco has also invested in operational improvements, including expanded digital membership capabilities and checkout technology designed to improve transaction speeds and enhance the customer experience.

https://www.foxbusiness.com/lifestyle/costco-shoppers-stock-up-cult-favorite-cookies-demand-surges-nationwide

Hollister partners with Target to tap into $89 billion back-to-college shopping marketHollister's partnership with Target comes as both companies look to capitalize on the lucrative back-to-college shopping market.{}

Hollister's partnership with Target comes as both companies look to capitalize on the lucrative back-to-college shopping market.https://www.cnbc.com/2026/06/18/hollister-partners-with-target-to-sell-dorm-bedding-apparel.html

JetBlue cuts back at Newark, LaGuardia airports as airline shifts focus to FloridaJetBlue is cutting key Newark and LaGuardia bases while expanding Mint premium cabin service at Fort Lauderdale-Hollywood International Airport this fall.

JetBlue is cutting back some New York-area operations this fall as it shifts more flying to South Florida.

The carrier will close its inflight base at Newark Liberty International Airport and its technical operations bases at both Newark and LaGuardia Airport, JetBlue confirmed to FOX Business. The airline said no employees will lose their jobs as a result of the closures.

"With recent schedule changes, we are adjusting the operational footprint needed to support our flying going forward," the company said. "… Crewmembers will be able to bid or transfer into other bases, and no crewmembers will lose their jobs due to these closures."

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JetBlue also said it is ending seasonal service between Newark and Los Angeles and Las Vegas. 

At the same time, the airline is expanding at Fort Lauderdale-Hollywood International Airport, where it is adding more Mint flights, JetBlue’s premium cabin service, to the West Coast.

"This growth includes new and additional Mint flying from Fort Lauderdale to the West Coast as we grow in South Florida after Spirit’s exit from the market," the company said.

JETBLUE FLIGHT TURNS BACK AFTER STRIKING A COYOTE ON THE RUNWAY: 'WE THOUGHT IT WAS A JOKE'

JetBlue, which is headquartered in Long Island City, New York, said it sees "significant opportunity" to grow in Fort Lauderdale, where it says customers "know and love the JetBlue experience."

JetBlue President Marty St. George and Chief Operating Officer Warren Christie told staff the airline needs to move quickly as competitors shift their own routes, according to CNBC.

"We’re operating in a fast-changing landscape where competitors are constantly adding, reducing and shifting flying in response to market conditions," the executives said in a note to staff. "We have to be just as agile, entering markets where we see opportunity and exiting those that no longer support our long-term goals. Standing still while competitors make moves isn’t an option." 

JETBLUE RESUMES OPERATIONS AFTER BRIEF NATIONWIDE FAA GROUND STOP

JetBlue, already the largest carrier at Fort Lauderdale-Hollywood International Airport, plans to add new Mint service from Fort Lauderdale to San Diego starting Nov. 19, along with more Mint flights to Los Angeles and San Francisco this winter, CNBC reported.

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Last month, JetBlue said it would drop 11 routes this summer, including all service from Manchester-Boston Regional Airport in New Hampshire, as it focuses more on Florida, according to Business Insider.

https://www.foxbusiness.com/lifestyle/jetblue-cuts-back-newark-laguardia-airports-airline-shifts-focus-florida

JetBlue to reduce Newark, LaGuardia footprint as it forges ahead in Fort LauderdaleJetBlue is planning to cut some employee bases at Newark Liberty International Airport in New Jersey and tech bases at New York's LaGuardia Airport.{}

JetBlue is planning to cut some employee bases at Newark Liberty International Airport in New Jersey and tech bases at New York's LaGuardia Airport.https://www.cnbc.com/2026/06/17/jetblue-to-reduce-newark-laguardia-footprint-as-it-expands-in-florida.html

LARRY KUDLOW: Trump and Warsh, in Different Ways, Are Both Promoting Really Good NewsThe president doesn’t want to be remembered as Herbert Hoover.

One of the most telling statements from President Trump at this week’s G-7 meeting was how worried he was about a potential economic catastrophe related to the Iran war and the closing of the Strait of Hormuz. And equally telling, the president referred to the stock market as a key barometer of the economy.

This is very similar to over a year ago when he modified his original liberation day tariff schedules because the stock market tanked badly after his speech. So he made adjustments.

And I can tell you with my own experience when I worked at the National Economic Council in the first term, however many 100 times I was in the oval, he always asked about the stock market when he saw me coming in. 

It’s an interesting point of view. And it’s a kind of old-fashioned point of view. Because business and financial economists used to use the stock market as a key barometer of the economy.  

Leftists hate this, and unfortunately, today’s Wall Street is heavily populated by leftists, particularly the economists. Not all of them. But most of them.

So anyway, the president didn’t want to be remembered as Herbert Hoover. And here’s exactly what he did say on Wednesday in France:

"So the one thing I didn’t want to see is I didn’t want to see economic catastrophe. If you kept this going, that could have happened. But all I know is, every time we talked about the possibility of peace, the stock market shot up like a rocket ship. It never went down. They didn’t like it." 

Mr. Trump added that "the stock market is more brilliant than anybody there is, including the people on this stage other than me, of course. Rather than possibly going into a depression, rather than having your favorite president be Herbert Hoover, who was always the one I didn’t want to be."

I think that’s very important and very instructive on his thinking. I’m gonna get to the masterful, maiden voyage of the Fed chairman, Kevin Warsh, in just a moment, but I want to add from Mr. Trump’s Truth Social post this morning:

"OIL IS FLOWING, IRAN CAN NEVER HAVE A NUCLEAR WEAPON (THE WORLD WILL BE SAFE), THE STOCK MARKETS ARE ROARING, JOBS ARE AT RECORDS, AND PRICES ARE DROPPING (AFFORDABILITY). OUR COUNTRY IS STRONG, SAFE, AND RESPECTED LIKE NEVER BEFORE." 

Mr. Trump concluded: "YOU’RE WELCOME."

So now, Mr. Warsh made clear in yesterday’s presser that strong economic growth and low inflation, meaning stable prices, and low unemployment can all exist together. He basically told us that models developed 50 years or more ago should not be used in today’s ultra-high-tech, faster-than-the-speed-of-light economy. An important policy statement. And an enormous breath of fresh air.

Meanwhile, reports are coming in that oil is already flowing through the Strait of Hormuz faster than anyone thinks possible.

At $75 and change a barrel, West Texas intermediate oil today is right where it was one year ago, $75. But a year ago, gasoline was $3.18 a gallon. That’s a good forecast for what may happen. Right now it’s $3.99 a gallon nationwide, according to AAA. By the way $3.18 is an awfully good number for the GOP midterm outlook.

Yet Mr. Warsh was very clear that he is leaning toward restoring what he calls price stability. The Fed under its former chairman, Jay Powell, hadn’t hit its 2 percent inflation target in five years. Mr. Warsh wants to correct this.

I think it’s doubtful that he’s gonna start raising the Fed’s target rate, though. Why? Because they’d be looking backward at the lagging story of spiking oil, a story that has obviously completely reversed. Don’t base policy on last year’s story, try to look ahead. This too is a key Warsh theme.

And by the way, he watches commodities, which in general are falling. Energy, gold, silver, corn, wheat, etc., all falling. And as I noted yesterday, under Mr. Warsh, good news can once again be good news.

His goal is to get markets to react to the actual data news, not what some flyover regional reserve bank president says. That’s why forward guidance is gradually going to go away.

You know what’s really good news? Mr. Trump has decimated Iran’s nuclear and military capabilities. They’re on their knees. And that has allowed him to try and pull together a deal that includes reopening Hormuz.

And that’s going to allow Mr. Warsh the latitude for even more good news, both on falling inflation and rising prosperity. Think of it.

https://www.foxbusiness.com/politics/larry-kudlow-trump-warsh-different-ways-both-promoting-really-good-news

CarMax shares fall after used car retailer reports earnings beats, CEO details turnaround planDespite the beats, questions remain about the company's ability to grow and cut costs under the plan amid tougher market conditions, including margin pressure.{}

Despite the beats, questions remain about the company's ability to grow and cut costs under the plan amid tougher market conditions, including margin pressure.https://www.cnbc.com/2026/06/17/carmax-kmx-q1-earnings.html

Carvana’s new vehicle strategy turns dealership into ‘playground,’ test-drive center with sales all onlineBut don't expect Carvana to sell you a vehicle at one of its seven Stellantis stores, marking a stark contrast from typical franchised dealers.{}

But don't expect Carvana to sell you a vehicle at one of its seven Stellantis stores, marking a stark contrast from typical franchised dealers.https://www.cnbc.com/2026/06/17/carvana-new-vehicle-sales.html

Waymo recalls nearly 4,000 robotaxis after cars enter freeway work zonesWaymo has paused freeway robotaxi operations and recalled nearly 4,000 vehicles after more than a dozen incidents involving autonomous cars entering closed construction zones.

Waymo is recalling nearly 4,000 robotaxis after more than a dozen incidents in which the autonomous vehicles entered closed freeway construction zones, according to a National Highway Traffic Safety Administration (NHTSA) recall report.

The recall affects 3,871 vehicles equipped with Waymo's 5th Generation Automated Driving System.

According to NHTSA, the software issue could allow a vehicle to enter a closed freeway construction zone and continue traveling at posted speeds. Regulators said affected vehicles may avoid or fail to recognize certain construction-zone closures because of the software defect.

Waymo estimates that all 3,871 vehicles covered by the recall are affected.

WAYMO PAUSES FREEWAY ROBOTAXI ROUTES AFTER SAFETY AND SOFTWARE CONCERNS

According to the recall report, Waymo's Field Safety Committee began reviewing the issue in late April after examining six incidents in which robotaxis drove past ramp closure signs and entered freeway construction zones.

The committee met again in May after identifying seven additional instances involving active construction zones in the San Francisco Bay Area.

As a result of the 13 reported incidents, Waymo implemented freeway-driving restrictions while engineers worked to identify the root cause and develop a remedy, according to the filing.

The recall covers Waymo 5th Generation Automated Driving Systems manufactured between May 17, 2022, and May 19, 2026. As of June 13, a software remedy remained under development, according to the filing.

WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUE

Waymo currently operates driverless ride-hailing services in cities including San Francisco, Los Angeles, Phoenix and Austin, and has announced plans to expand into additional markets.

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A Waymo spokesperson told FOX Business the company voluntarily restricted freeway operations while making improvements, notified regulators and filed a voluntary recall with NHTSA.

"We identified an area of improvement regarding performance around freeway construction zones," the spokesperson said.

https://www.foxbusiness.com/lifestyle/waymo-recalls-nearly-4000-robotaxis-after-cars-enter-freeway-work-zones

What to look for before buying your first ETFETFs offer instant exposure to different sectors at prices often lower than individual stock holdings. There's one key question to answer before adding the first ETF to any portfolio.

Exchange-traded funds (ETFs) are great investment vehicles for gaining instant exposure to different sectors at prices often lower than those of some of the ETF's top stock holdings.

For example, Space Exploration Technologies, or SpaceX, closed its first day of trading at just under $161. But the Tema Space Innovators ETF, which holds SpaceX and other space-related investments, is trading below $35 per share.

That said, with so many different options to choose from, there's one key question to consider before adding the first ETF into any portfolio.

The question to answer before buying an ETF is, "What role is this ETF going to serve in my portfolio?"

5 SIMPLE ETFS TO BUY WITH $500 AND HOLD FOR A LIFETIME

For example, an investor may want to generate more income. With that goal in mind, one investment to consider is the Schwab U.S. Dividend Equity ETF, which tracks U.S. companies with high dividend yields. That ETF pays a dividend that yields above 3%. For investors seeking greater access to theme-based investing with higher price appreciation potential, there are ETFs focused on sectors like artificial intelligence (AI).

COULD THE VANGUARD S&P 500 ETF BE YOUR TICKET TO BECOMING A STOCK MARKET MILLIONAIRE?

When it comes to the very first ETF to add to a portfolio, however, the Vanguard Total Stock Market ETF offers a strong starting point. Its investment philosophy is straightforward and has helped investors build long-term wealth.

The Vanguard Total Stock Market ETF is designed to track the CRSP U.S. Market index, which represents 100% of the investable U.S. stock market. Its holdings include large-, mid-, and small-cap stocks, with those holdings totaling nearly 3,500. Nvidia is the top holding, with a portfolio weight of 6.6%.

1 UNDER-THE-RADAR ETF TO INVEST $1,000 IN RIGHT NOW THAT'S OUTPERFORMING MAJOR INDEXES THIS YEAR

It's a tech-heavy ETF, however, so this may not be a fit for investors who already have heavy exposure to tech stocks. Still, this ETF offers massive diversification, a history of steady returns, and a dividend payout. As of May 31, the Vanguard Total Stock Market ETF is up over 308% over the last 10 years, and its dividend yield is 1%, boosting that total return potential.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

https://www.foxbusiness.com/markets/what-look-before-buying-your-first-etf

UniQure to seek FDA approval for Huntington's disease gene therapy after previous clash with agencyThe announcement comes months after UniQure became embroiled in a public debate with FDA leaders over the clinical trial data supporting its application.{}

The announcement comes months after UniQure became embroiled in a public debate with FDA leaders over the clinical trial data supporting its application.https://www.cnbc.com/2026/06/17/huntingtons-disease-drugmaker-uniqure-to-seek-fda-ok-for-gene-therapy.html

Target, Walmart and Amazon among brands losing LGBTQ+ consumer spending, new survey saysLGBTQ+ consumers are shifting spending toward companies they view as supporting DEI and away from those seen as retreating, HRC survey finds.{}

LGBTQ+ consumers are shifting spending toward companies they view as supporting DEI and away from those seen as retreating, HRC survey finds.https://www.cnbc.com/2026/06/17/target-walmart-amazon-lgbtq-consumer-spending.html

Government regulations add nearly $132K to cost of new home, builders sayA new NAHB report estimates federal, state and local regulations account for more than one-quarter of the price of a newly built single-family home.

Government regulations now add roughly $132,000 to the cost of a typical newly built home, according to a new study from the National Association of Home Builders (NAHB), as industry leaders warn that mounting costs are worsening the nation's housing affordability challenges.

The NAHB study found that regulations imposed by federal, state and local governments account for 26.4% of the final price of a new single-family home. Applied to the average sales price of a new home in January, the regulatory burden totals approximately $131,734 per house.

The estimate is based on Census Bureau data showing the average sales price of a newly built home sold in January was $499,500.

The report comes as housing affordability remains a challenge for many Americans amid elevated mortgage rates and persistently high home prices. 

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The NAHB's analysis found regulatory costs have increased sharply in recent years. The group estimated that regulations added $93,870 to the cost of a new home in 2021, compared with $131,734 today – an increase of roughly 40% over five years.

Among the various regulatory costs examined in the report, changes to building codes over the past decade represented the largest burden. NAHB estimated those changes add approximately $40,288 to the cost of a typical newly built home.

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The study also found that builders face costs associated with zoning approvals, permit and inspection fees, environmental and traffic studies, land-use requirements, labor regulations and delays in obtaining approvals.

"Costly and inefficient regulatory policy is clearly impeding the ability of builders to increase the housing supply," NAHB Chief Economist Robert Dietz said in a statement. "According to a new NAHB study, government regulation, taxes, fees and other costs add more than 26% to the price of an average single-family home. Easing permitting bottlenecks, density limits and inefficient zoning rules would help reduce costs and support the housing growth the nation needs."

According to the report, 94.2% of developers surveyed said regulations typically cause project delays, while 88.2% reported facing development standards that go beyond what they would ordinarily build.

NAHB Chairman Bill Owens said the nation remains short roughly 1.2 million homes and argued that reducing barriers to construction could help boost housing supply.

"With the nation short about 1.2 million homes, builder sentiment will remain soft until barriers are eased and conditions improve for home building," Owens said in a statement released alongside the latest NAHB/Wells Fargo Housing Market Index.

Builder confidence remains subdued. The latest NAHB/Wells Fargo Housing Market Index showed builder sentiment fell to 35 in June, marking the 14th consecutive month below 40. The survey also found that 35% of builders cut prices in June, while 62% offered sales incentives to attract buyers.

The NAHB study was based on surveys of 54 land developers and 337 single-family builders conducted in March. Researchers combined the survey responses with Census Bureau housing data and other industry cost assumptions to estimate the aggregate impact of regulations on home prices.

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The report noted that it does not argue all regulations should be eliminated, but said quantifying their cost is important as policymakers consider ways to improve housing affordability and increase homebuilding nationwide.

https://www.foxbusiness.com/economy/government-regulations-add-132k-new-home-costs

CNBC to wade further into live sports with 11 simulcast WNBA gamesThe simulcasts will expose the WNBA to an affluent audience on CNBC and marks a new chapter for the business news network after it spun out from Comcast.{}

The simulcasts will expose the WNBA to an affluent audience on CNBC and marks a new chapter for the business news network after it spun out from Comcast.https://www.cnbc.com/2026/06/17/cnbc-versant-wnba-games.html

Jeff Bezos predicts AI will create a labor shortage, not replace human workers across the economyJeff Bezos says AI will create a labor shortage and won't replace humans, offering an optimistic outlook at the VivaTech technology conference in Paris.

Amazon founder Jeff Bezos said the rise of artificial intelligence (AI) won't lead to the replacement of humans in the workforce and will instead create labor shortages.

Bezos spoke at the VivaTech technology conference in Paris Wednesday and offered an optimistic outlook on the impact of AI on the workforce amid concerns about its impact on the role of human workers across the economy.

"I know there's a lot of concern that many people have, including many smart people, that AI is going to make humans redundant and so on," Bezos said.

"I totally disagree with that point of view. And I think, in fact, AI is going to create a labor shortage," the Amazon founder added. "We have an endless set of things to invent. … We are limited not by our imaginations but by what we can actually do.

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"I promise you every single person in this audience has had an idea for a new business or a new product or a new device that they wish they could manufacture, and that idea stayed in your head and went nowhere," Bezos explained. "And the reason it stayed in your head and went nowhere is because it's too hard to do, and it wasn't worth it.

"If we can accelerate the dream build loop, all of the ideas will then become possible. And then we end up being limited not by our capabilities, but by our imaginations."

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Bezos' comments come as companies are reevaluating their workforces in light of the advancements in AI, with thousands of job cuts following companies' investments in the emerging tech.

A report by global outplacement and executive coaching firm Challenger, Gray & Christmas found that about 40% of the 97,006 job cuts announced by companies in May were attributed to AI.

The 38,579 cuts attributed to AI in May marked the highest monthly total linked to that since Challenger began tracking it in 2023.

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"The labor market is being reshaped by technology in real time. AI is now the leading reason companies give for cutting jobs, and the primary industry citing it is technology," said Andy Challenger, the firm's chief revenue officer and a labor and workplace expert.

The tech sector announced 38,242 job cuts in May, the highest for the sector since August 2024. Firms within the sector have announced 123,653 cuts in 2026 so far, which is an increase of 66% from the same period in 2025 and leads other sectors in job cuts this year by a wide margin.

"AI isn't yet the jobpocalypse some predicted. Like spreadsheets and email before it, the technology will ultimately make workers more productive, but our data shows companies are already acting on it, citing AI for more cuts than any other reason," Challenger explained. "The open question isn't whether AI changes the workforce, but how fast."

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Amazon is one of the tech firms that has cut jobs amid its investments in AI, with the company announcing 16,000 cuts in January.

Reuters contributed to this report.

https://www.foxbusiness.com/economy/jeff-bezos-predicts-ai-create-labor-shortage-not-replace-human-workers-across-economy

Aldi launches free Blind Box grocery bundles as shoppers grapple with higher food costsThe discount grocer is launching a four-day blind box promotion featuring free grocery bundles as consumers continue navigating elevated food costs.

Aldi is launching a limited-time giveaway of mystery grocery bundles, offering shoppers a chance to claim free boxes containing surprise products.

The discount grocer said it will release a new themed ALDI Blind Box each day from June 22 through June 25. The boxes will be available while supplies last.

Shoppers can claim one box per day beginning at noon ET by visiting AldiBlindBox.com. The boxes will be distributed on a first-come, first-served basis and shipped directly to consumers.

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The offerings include a Snack Blind Box, a Fiber Blind Box, a Protein Blind Box and a Mystery Blind Box containing products from across the store.

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS

The promotion is based on the blind box format, in which consumers do not know the contents of a package until it is opened. The concept has gained popularity across several retail categories, including collectibles, beauty products and apparel.

The promotion comes as food prices remain elevated. High inflation has created severe financial pressures in recent years for most U.S. households, which are forced to pay more for everyday necessities like food and rent. Price hikes are particularly difficult for lower-income Americans because they tend to spend more of their already-stretched paychecks on necessities and have less flexibility to save.

INFLATION IS SQUEEZING AMERICAN CONSUMERS AND THE FED'S LATEST REPORT SHOWS IT'S GETTING WORSE

Food prices were up 0.2% in May and are 3.1% higher than a year ago. The food at home index was up 0.1% for the month and 2.7% compared with last year. The food away from home index rose 0.3% on a monthly basis and 3.5% year over year.

Meats, poultry and fish prices were down 0.4% in May but are up 6.2% from last year. Beef and veal prices fell 1.6% for the month but remain up 12.9% on an annual basis. Egg prices increased 4% in May but are down 35.2% year over year as supply normalized after an avian flu outbreak. Fruits and vegetables prices rose 0.2% for the month and are up 6.1% from a year ago.

Aldi said many of the products included in the giveaway can also be found in stores nationwide and through its rotating ALDI Finds program.

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The company said the giveaway will run for four days with a different themed box available each day.

FOX Business' Eric Revell contributed to this report

https://www.foxbusiness.com/retail/aldi-launches-free-blind-box-grocery-bundles-shoppers-grapple-higher-food-costs