Business Corpus

Major Wendy's franchisee files for bankruptcyMeritage Hospitality Group filed for Chapter 11 bankruptcy protection to block Wendy's corporate from terminating its franchise agreements.

Meritage Hospitality Group, one of the largest Wendy’s franchisees in the U.S., has filed for Chapter 11 bankruptcy protection following a high-stakes dispute with the fast-food chain's corporate parent.

The bankruptcy filing comes amid severe financial pressures at the franchisee, which has struggled with soaring beef costs and weak customer traffic, while Meritage has also blamed aggressive promotional discounting for squeezing margins.

The Michigan-based operator runs 314 Wendy's locations across 15 states. The company filed its voluntary petition Thursday with the U.S. Bankruptcy Court for the Western District of Michigan, according to court documents.

THE FAST-FOOD CHAIN WHERE MANAGERS AVERAGE MORE THAN $200K A YEAR

The bankruptcy filing came one day after Wendy's franchising unit delivered a Sept. 16 notice seeking to terminate Meritage's franchise rights and lease occupancy "effective immediately," according to court documents. Meritage filed for Chapter 11 the following day, putting the termination effort on hold while the case proceeds. Meritage disputes Wendy's attempt to terminate the agreements and says its franchise rights remain intact.

In a recent report to investors, Meritage CEO Bob Schermer Jr. said store-level earnings declined 48% in 2025. Court filings separately show the company reported a $31.5 million net loss that year, compared with net income of $8 million in 2024, while revenue fell 7.6% to $617.7 million.

In an effort to stem the losses, the franchisee began closing approximately 60 underperforming Wendy's locations in late 2025 and has eliminated or altered breakfast service at numerous locations. The company said those measures are expected to provide approximately $11.2 million in combined annual EBITDA benefits.

Court records show Meritage had approximately $725.9 million in assets and $651.2 million in total liabilities as of summer 2026. The Wendy's franchising unit is asserting claims totaling $146.9 million against the company, including $27.4 million in past-due royalties and fees and $119.5 million in Continuous Operations Fees. Meritage also had approximately $137 million outstanding under its primary credit facility as of the bankruptcy filing.

In a press release, Meritage's board of directors said the court-supervised restructuring was the "most effective and proactive path to strengthen Meritage’s finances, address these headwinds directly, and protect the long-term interests of its stakeholders, team members, guests, and communities."

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Despite the bankruptcy, Meritage said it intends to keep its dining rooms open and maintain normal restaurant operations. The company has asked the court for permission to continue paying its roughly 9,000 employees without disruption. Court filings put its workforce at approximately 8,850 employees as of the bankruptcy filing.

https://www.foxbusiness.com/lifestyle/major-wendys-franchisee-files-bankruptcy

Major Wendy's franchisee files for bankruptcyMeritage Hospitality Group filed for Chapter 11 bankruptcy protection to block Wendy's corporate from terminating its franchise agreements.

THE FAST-FOOD CHAIN WHERE MANAGERS AVERAGE MORE THAN $200K A YEAR

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https://www.foxbusiness.com/lifestyle/major-wendys-franchisee-files-bankruptcy

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companiesTariffs, fuel prices and interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.{}

Tariffs, fuel prices and interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.https://www.cnbc.com/2026/09/20/tariffs-fuel-prices-and-interest-rates-squeeze-us-companies.html

Nissan eyes increasing U.S. production as new Rogue hybrid launchesNissan has two production shifts at its assembly plant in Smyrna, Tennessee, and adding another could mean hundreds, if not thousands, of new jobs.{}

Nissan has two production shifts at its assembly plant in Smyrna, Tennessee, and adding another could mean hundreds, if not thousands, of new jobs.https://www.cnbc.com/2026/09/21/nissan-2027-rogue-production.html

NASCAR CEO Steve O’Donnell talks growth opportunities, possible international expansionCEO Steve O’Donnell said NASCAR's media strategy and the upcoming film "Days of Thunder 2" will help raise brand awareness and broaden its fan base.{}

CEO Steve O’Donnell said NASCAR's media strategy and the upcoming film "Days of Thunder 2" will help raise brand awareness and broaden its fan base.https://www.cnbc.com/2026/09/17/nascar-steve-odonnell-media-international-expansion.html

Nissan eyes increasing U.S. production as new Rogue hybrid launchesNissan has two production shifts at its assembly plant in Smyrna, Tennessee, and adding another could mean hundreds, if not thousands, of new jobs.{}

United Nations Least Developed Country Category – Curse or Boon?

SYDNEY, September 21 (IPS) - The UN General Assembly will soon vote – most likely favourably – on Bangladesh’s request to postpone the country’s graduation from the UN’s Least Developed Country (LDC) category, currently scheduled for November this year. The request for a 3-year extension was endorsed by the ECOSOC following the recommendation of the UN’s Committee for Development Policy (CDP). It is highly likely that the extension will also be justifiably granted to Nepal and Lao People’s Democratic Republic (Lao, PDR) – the two other countries scheduled to graduate with Bangladesh, given the fast deteriorating global economic situation and recent natural disaster in Nepal. In fact, the same argument for an extension may be admissible to all prospective graduating countries, such as Solomon Islands (2027), Cambodia (2029) and Senegal (2029).

Read the full story, “United Nations Least Developed Country Category – Curse or Boon?”, on globalissues.org →

https://www.globalissues.org/news/2026/09/21/44095 {"url":"https://static.globalissues.org/ips/2019/08/Anis-Chowdhury_180-100x100.jpg"}

Volkswagen recalls 208,000 SUVs over bolts that could cause steering lossVolkswagen is recalling more than 208,000 vehicles due to a faulty steering rack bolt that could break and cause a loss of steering control.

Volkswagen Group of America is recalling more than 208,000 vehicles in the U.S. over a steering rack mounting bolt that can corrode and break, potentially causing a loss of steering control.

The recall affects a total of 208,724 SUVs, including certain 2018 Tiguan, 2018-2019 Atlas and 2019-2021 Audi Q3 vehicles, the National Highway Traffic Safety Administration (NHTSA) announced.

The affected Tiguan vehicles were manufactured from March 22, 2017, through June 18, 2018, the affected Atlas vehicles were manufactured from Nov. 30, 2016, through Sept. 22, 2018, and the affected Audi Q3 vehicles were manufactured from May 21, 2019, through July 16, 2021.

FORD RECALLS MORE THAN 223,000 VEHICLES OVER FUEL TANK ISSUE

The recalled vehicles were manufactured with a specific steering rack, so vehicles with a different steering rack are unaffected by the recall.

According to the notice, the right-side mounting bolt on the steering rack can corrode after moisture enters the surrounding area. If the bolt head fractures, the steering rack could remain attached to the vehicle’s subframe at only one mounting point.

CHRYSLER RECALLS NEARLY 75K SUVS OVER PARTS THAT COULD DETACH WHILE DRIVING

According to NHTSA, continued loading could cause the steering rack housing to fracture, potentially leading to a loss of steering capability, potentially leading to a loss of steering capability.

"A broken steering rack housing can result in a loss of steering control, increasing the risk of a crash," the NHTSA said in its notice.

Volkswagen and Audi said they are not aware of any crashes, fires, injuries or deaths linked to the defect.

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Dealers will replace the right steering rack mounting bolt with a bolt featuring a highly corrosion-resistant polymer coating at no cost. The new bolt is designed to offer greater protection against corrosion.

Owner notification letters are expected to be mailed out on Nov. 10.

https://www.foxbusiness.com/economy/volkswagen-recalls-208000-suvs-over-bolts-could-cause-steering-loss

Sudan: Blood on Foreign Powers’ Hands

LONDON, September 21 (IPS) - Sudan’s civil war grinds on. It’s close to three and a half years since the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) militia began their battle for supremacy, and the two forces and their allies continue to slaughter civilians with impunity. As a recent UN report makes clear, the killing is enabled by numerous foreign powers that continue to supply weapons, personnel and logistical support. They have made a civil conflict their proxy war, and their self-interest is sustaining the killing.

Read the full story, “Sudan: Blood on Foreign Powers’ Hands”, on globalissues.org →

https://www.globalissues.org/news/2026/09/21/44096 {"url":"https://static.globalissues.org/ips/2026/09/A-group-of-armed_-100x100.jpg"}

US Visas for Ruthless Autocrats to Address UN– but not for Palestinian Leaders

UNITED NATIONS, September 21 (IPS) - When Yasser Arafat was denied a US visa for his second visit to New York to address the United Nations back in 1988, the General Assembly defied the United States by temporarily moving the UN’s highest policy making body to Geneva– perhaps for the first time in UN history– providing a less-hostile political environment and a platform, for the leader of the Palestine Liberation Organization (PLO).

Read the full story, “US Visas for Ruthless Autocrats to Address UN– but not for Palestinian Leaders”, on globalissues.org →

https://www.globalissues.org/news/2026/09/21/44097 {"url":"https://static.globalissues.org/ips/2026/09/President-Mahmoud-Abbas_-100x100.jpg"}

Merriam-Webster welcomes ‘looksmaxxing,’ ‘vibe coding’ and ‘cuffing season’ to new word listMerriam-Webster added 1,400 new words including vibe coding, looksmaxxing, parasocial, rickroll and meme coin in a sweeping internet-age update.

From "vibe coding" to "trash panda," the internet has officially talked its way into the dictionary.

Merriam-Webster has added 1,400 new words and definitions to its online catalog, giving a digital-age "glow-up" to the language and official recognition to an internet-fueled mix that also includes "looksmaxxing," "parasocial" and "Rickroll."

The publisher said the new entries reflect terms and meanings that have demonstrated widespread use over time, offering what it called "a window into the world today."

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Merriam-Webster pointed to social media culture as a driving force behind a number of the additions. "Looksmaxxing," a term tied to efforts to improve one’s physical appearance, made the cut alongside "parasocial," which commonly describes a one-sided connection someone feels toward a public figure or media personality.

Merriam-Webster also welcomed "meme coin," "promposal" and "Rickroll," the internet prank that redirects an unsuspecting user to Rick Astley’s 1987 music video for "Never Gonna Give You Up."

NEW YORK MAKES HISTORY WITH FIRST-OF-ITS-KIND LAW REGULATING AI-POWERED COMMERCIALS

Artificial intelligence left a major imprint on the update, with "vibe coding," "AGI" and a new noun form of "compute" joining the dictionary.

The publisher also added "uncanny valley," the unsettling feeling sparked by something artificial that appears nearly human, but not quite.

The additions stretch well beyond screens and Silicon Valley.

Food-related newcomers include "superfood," "cake pop," "shishito," "bao" and "chili crisp." The relationship term "cuffing season" also earned a spot, defined as a time when single people seek short-term romantic partners for the colder months.

VIRAL RACCOON JIMOTHY GETS HIS OWN MLB THEME NIGHT AS SEATTLE MARINERS EMBRACE THE TREND

Other entries capture the mood of modern life, including "Sunday scaries," "crashout," "copium," "California sober" and "yacht rock." "Shapewear" and "neckbeard" were also added, while "letterboxing" received a new digital meaning.

The list even includes the "Mandela Effect," a term for a shared false memory, and "trash panda," a playful name for a raccoon.

Merriam-Webster said words are not added simply because they suddenly go viral. Its editors look for sustained, widespread use before an entry is granted a place in the dictionary.

The sweeping update comes just months before Merriam-Webster is expected to announce its 2026 Word of the Year.

THE AI YOU USE EVERY DAY IS BIASED — AND IT’S QUIETLY SHAPING YOUR WORLDVIEW, NEW REPORT SAYS

In 2025, the publisher selected "slop," defining it as "digital content of low quality that is produced usually in quantity by means of artificial intelligence."

"The flood of slop in 2025 included absurd videos, off-kilter advertising images, cheesy propaganda, fake news that looks pretty real, junky AI-written books, ‘workslop’ reports that waste coworkers’ time … and lots of talking cats," Merriam-Webster said at the time. "People found it annoying, and people ate it up."

Other terms highlighted by the publisher in 2025 included "gerrymander," "touch grass," "performative," "tariff," "six seven" and "conclave."

https://www.foxbusiness.com/lifestyle/merriam-webster-welcomes-looksmaxxing-vibe-coding-cuffing-season-new-word-list

Fast-food chains are chasing the specialty drink boom. Inside Sonic's strategySonic says its long-standing drink customization platform gives the chain an advantage as fast-food rivals invest in specialty beverages and personalized drinks.

As restaurant chains increasingly turn to specialty beverages to attract customers beyond the traditional meal, Sonic Drive-In believes a business model built around drink customization gives it a head start.

Marion Campbell, Sonic's vice president of integrated marketing and communications, told FOX Business that the quick-service restaurant industry is still figuring out how to make specialty beverages a bigger part of its business, while Sonic has spent years building customization into its operations.

"I think that the market is just getting started. And QSR in particular is just figuring out a way to serve these types of beverages to their guests and make it a pivotal part of their DNA. It's already a part of our DNA," Campbell said.

The competition for beverage customers comes as restaurant brands experiment with specialty drinks, customization and limited-time flavors to give consumers additional reasons to visit. Rival fast-food chains McDonald's, Taco Bell and Jack in the Box each offer their own versions of dirty sodas.

The nonalcoholic beverage market generated $264.1 billion in consumer spending at U.S. foodservice establishments in 2025, accounting for 23% of industry-wide sales, according to data from Technomic. The data also showed that cold beverage spending in 2025 climbed 3.4%, compared with a 1.2% rise for hot beverages, with Technomic saying that "innovation and consumer preference are driving cold beverages to the forefront of market growth."

KRAFT HEINZ UNVEILS NEW PHILADELPHIA CREAM CHEESE FLAVORS TO WIN BACK SHOPPERS

For Sonic – which operates more than 3,400 restaurants and generates $5.2 billion in annual system sales – drinks can bring customers through its drive-ins even when they aren't looking for a burger, hot dog or other full meal.

"A beverage-only guest is a very frequent guest. So beverage is always going to play a pivotal role because of the frequency it drives for the business versus just a check driver," Campbell said.

She added that beverages can also increase how much a customer purchases when paired with food.

The company's customization infrastructure has also allowed the chain to capitalize on the popularity of dirty sodas, which typically combine soda with additions such as cream and flavored syrups.

The dirty soda trend has exploded over the past two years, with case volume at quick-service restaurants jumping 318% during that time, according to data from market research firm Circana.

MAJOR BURGER CHAIN IN-N-OUT CHANGES TWO KEY INGREDIENTS, SENDING FANS INTO A FRENZY

"I think dirty sodas is a place we've actually played long before they were really deemed dirty sodas," Campbell said.

Campbell said Sonic was positioned to capitalize on the trend because customers were already accustomed to customizing drinks at its restaurants.

The chain is now using that platform to experiment with new flavors and seasonal products, including its recently launched fall-inspired lineup and banana-flavored offerings.

CHECKERS & RALLY’S CEO SAYS AMERICANS’ DEMAND FOR FAST-FOOD VALUE IS 'INTENSIFYING'

The strategy comes as consumers remain sensitive to restaurant prices, forcing chains to balance novelty and indulgence with value.

Campbell said beverage pricing can vary widely, from an everyday carbonated soft drink to more elaborate specialty offerings, and argued that consumers can be willing to spend more for an experience they consider distinctive.

Sonic's latest seasonal marketing push also illustrates how the company is trying to translate beverage experimentation into customer traffic.

DUNKIN' OPENED ITS FIRST-EVER DOG DRIVE-THRU WITH TREATS AND TOYS FOR PUPS ON NATIONAL DOG DAY

The chain created a campaign around "Hotumn," its name for the period when consumers begin embracing fall flavors and clothing even as temperatures remain hot, particularly in Sonic's core Southern markets. The campaign is scheduled to run for about four weeks.

Looking further ahead, Campbell expects customers' appetite for personalization to continue shaping the beverage business.

"Again, customization's not going anywhere. It's been here forever. People like to be in control of the flavors they consume. They like to feel like they're the creator, and they have that ability," Campbell said.

She also pointed to flavored water as an area with room for additional experimentation as consumers look for customizable beverages beyond traditional soft drinks.

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Sonic has more beverage concepts in development, according to Campbell, although she declined to disclose what the company plans to introduce next.

https://www.foxbusiness.com/lifestyle/fast-food-chains-chasing-specialty-drink-boom-inside-sonics-strategy

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companiesTariffs, fuel prices and interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.{}

Budget airline king Bill Franke warms to first-class seats and premium upgradesSerial airline investor Bill Franke is embracing more upmarket changes like first-class seats.{}

Serial airline investor Bill Franke is embracing more upmarket changes like first-class seats.https://www.cnbc.com/2026/09/20/bill-franke-frontier-spirit-budget-airlines.html

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companiesTariffs, soaring fuel prices and higher interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.{}

Tariffs, soaring fuel prices and higher interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.https://www.cnbc.com/2026/09/20/tariffs-fuel-prices-and-interest-rates-squeeze-us-companies.html

‘It's awful’: How tariffs, soaring fuel costs and higher interest rates are squeezing American companiesTariffs, soaring fuel prices and higher interest rates are squeezing American companies, particularly manufacturers, auto suppliers, retailers and transportation businesses.{}

Mark Ruffalo urges California AG Rob Bonta not to 'cave' in Paramount-Warner Bros. merger fightMark Ruffalo urged California Attorney General Rob Bonta not to cave on settlement talks over the $110 billion Paramount-Warner Bros. Discovery merger.

Actor Mark Ruffalo is ramping up pressure on California Attorney General Rob Bonta amid reports of settlement talks over the proposed Paramount-Warner Bros. Discovery merger, warning the Democrat not to "cave" and urging supporters to rally outside his Oakland office.

"Don’t you dare @AGRobBonta, do not cave," Ruffalo wrote Saturday on X.

Ruffalo's lobbying comes as the massive transaction remains on hold under a court agreement and Paramount CEO David Ellison clashes with Bonta and 11 other state attorneys general over the company's proposed $110 billion acquisition of Warner Bros. Discovery.

In July, the states sued to block the deal, arguing it would reduce competition and give the combined company excessive market power in film distribution and basic cable programming.

HOWDY FOR HOLLYWOOD? WHY PARAMOUNT’S THREAT TO LEAVE CALIFORNIA MATTERS

As the megadeal remains on hold, Ellison has reportedly threatened to move Paramount to Texas, Tennessee or Georgia if the dispute is not resolved by Oct. 1. The lawsuit is scheduled to go to trial in March if a settlement is not reached.

Settlement negotiations remain ongoing.

Ruffalo strongly urged Bonta to reject any settlement that would allow the transaction to move forward. He cited thousands of filmmakers and tens of thousands of petition signatures opposing the merger.

"You work for the people — the very people who will be hurt if you let this lousy deal filled with empty promises go forward," Ruffalo wrote. "Please sign to send a message to the AG’s and Paramount. Reject the deal. The people don’t want it!"

PARAMOUNT MUM, BUT LA OFFICIALS ON NOTICE AS RUMORS OF MOVE FROM CALIFORNIA TO NASHVILLE SWIRL

In a follow-up post, Ruffalo called on Bay Area opponents of the merger to gather outside Bonta's Oakland office.

"To my friends in the Bay Area: I'm hearing Rob Bonta is about to cave and hand Warner Bros over to the Ellisons. We can't let him do that. Can you show up outside his AG office in Oakland tomorrow at 5pm to reject this backroom deal?" Ruffalo wrote.

The Block the Merger Coalition, which says more than 75,000 people have joined its campaign opposing concessions, argued that a settlement based on unenforceable promises would not adequately address its concerns.

"The rumored ‘deal’ to usher the Paramount-Warner Bros. merger forward is an insult to everyone who has stood up against this harmful transaction and to the hundreds of thousands of workers, journalists, and consumers who will be hurt if it goes forward," the organization said in a statement.

CALIFORNIA ENTREPRENEUR WARNS BILLIONAIRE WEALTH TAX COULD TRIGGER 'GIANT SUCKING SOUND' OF BUSINESS EXITS

"Let’s be very clear: an agreement based only on unenforceable concessions is a win only for David Ellison. It is an L for everyone else."

The Hollywood fight isn't entirely one-sided. Spencer Pratt, who ran for governor of California, criticized Ruffalo's position, arguing that blocking the transaction could hurt rank-and-file film workers.

Bonta's office previously addressed reports that Paramount has raised the possibility of moving operations out of California.

"It's no secret that Paramount has been making this threat despite its alleged commitment to California and Hollywood," Bonta's office told FOX Business.

"What Paramount decides to do is Paramount's choice alone," his office added.

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FOX Business has reached out to Bonta's office for comment.

FOX Business' Stepheny Price and Lorraine Taylor contributed to this report.

https://www.foxbusiness.com/entertainment/mark-ruffalo-urges-california-ag-rob-bonta-not-cave-paramount-warner-bros-merger-fight

MIT professor says AI risks are uniting Bernie Sanders, Steve Bannon and lawmakers on Capitol HillMIT physicist and AI researcher Max Tegmark says concern over AI is finally breaking through in Washington, after a bipartisan Senate briefing and a conference featuring far-right media host Steve Bannon and independent Sen. Bernie Sanders.

Max Tegmark, an MIT physics professor and machine learning researcher, says he has warned about the danger of artificial intelligence (AI) potentially overtaking human beings for over a decade.

Tegmark argues that without sufficient guardrails, AI systems will recursively improve themselves until they achieve superintelligence, allowing them to "call the shots" on Earth.

This week, Tegmark traveled from Cambridge, Massachusetts, to Washington, D.C., for a closed-door meeting with a bipartisan group of senators about the threat AI poses. And for the first time, he said he feels his message has broken through.

"I came away feeling quite encouraged," Tegmark told Fox News Digital. "The senators were just taking this so seriously. A lot of them looked really, really concerned."

WHO IS DARIO AMODEI, THE ANTHROPIC CEO PUSHING INDEPENDENT AI OVERSIGHT?

"They were asking a lot of questions about concrete solutions as well," he added, describing the Wednesday meeting. "There's been more of a shift in political will in America in the last three months than in the previous decade. It's really inspiring to see."

Tegmark also made the trip to host Tuesday's Pro-Human Assembly, where two figures who rarely agree on anything — far-right media executive Steve Bannon and Sen. Bernie Sanders, I-Vt. — shared the same stage to warn about AI.

"It just really blew my mind…when I got to introduce both Bernie Sanders and Steve Bannon to speak on that stage in D.C. back to back, and they were both saying the same thing. We want to keep humans in charge here," Tegmark said.

The event also brought together faith leaders, labor representatives and mothers whose children died by suicide after extensive interactions with AI chatbots.

"The basic conversation that went down there was simply saying we are all pro-human. Doesn't matter if you're MAGA or a Democrat, we're humans first," Tegmark said. "We want a good future for humans, not for the machines."

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Part of securing that "good future," Tegmark said, is preventing the nightmare scenario that has kept him up at night for years.

Incidents similar to the Hugging Face hack, where 700 OpenAI agents sent each other human-like messages before coordinating cyberattacks, will begin happening with more frequency in the next six months to year if no meaningful action is taken, Tegmark said.

Tegmark believes that if AI reaches superintelligence and is eventually embodied in millions or even billions of robots, it will become a new species that is superior to the human race.

"These agents that, for example, hacked out of OpenAI and committed crimes online, they are not your grandma's ChatGPT from two years ago," he said. "They have goals. They're actively pursuing them and being incredibly creative about getting things done."

AI HYSTERIA HAS A Y2K PROBLEM — AND THE STAKES THIS TIME COULD BE FAR HIGHER

He also worries that AI minds put inside robotic bodies may eventually have motives that conflict with our own, leading to outcomes most would find disastrous.

"Why would they do us any harm? I mean, we are nice to cats, and we pet them, and we don't try to eliminate them," Tegmark said. "Well, maybe [AI will] find us annoying and a nuisance."

"If these AIs decide to cover all of America with data centers and get rid of all the houses, a lot of people are going to be pissed, right? And now [the AIs will] view us as some annoying insects. We're trying to sabotage their little construction project, and they'll feel, 'Oh, it's just self-defense. Got to get rid of these human pests,'" Tegmark said.

But Tegmark insists that this hypothetical future isn't inevitable. He argues that AI can still be steered toward beneficial uses — such as curing diseases and increasing overall productivity — if governments establish safety standards before increasingly powerful systems are widely deployed.

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He pitched what he called an "FDA for AI," modeled on the Food and Drug Administration's (FDA) oversight of drugs, medical devices and treatments.

Under such a system, companies using AI to develop new medicines or productivity tools could still profit while preventing many of the perceived harms.

As an example, Tegmark pointed to AI chatbots that some children have been using as a stand-in for real, human connection.

"The next time some company wants to release an AI girlfriend for 8-year-olds, they would be asked, 'Hey dude, where's your clinical trial?'" Tegmark said. "If they say, 'We haven't checked yet, but we feel really good about this,' then the person from the FDA for AI will be like, 'OK, buddy, come back when you've done your clinical trial.'"

Politicians have begun responding to the country's shifting mood, with 79% of Americans saying the government should prioritize AI safety regulations even if doing so slows AI development, according to a recent Gallup poll.

For one, California Gov. Gavin Newsom signed an executive order Friday that calls for new laws that require AI companies to include a "kill switch" to prevent out-of-control models from going rogue.

Tegmark said reining in AI is possible, but emphasized that action needs to be taken quickly.

"We've done a lot of remarkable things here in the U.S. before that other people thought were impossible. And I think we can do this also," he said.

https://www.foxbusiness.com/politics/mit-professor-says-ai-risks-uniting-bernie-sanders-steve-bannon-lawmakers-capitol-hill

Howdy for Hollywood? Why Paramount’s threat to leave California mattersMuch of TV and movie production has already put Hollywood in the rearview mirror, but a major studio like Paramount moving would be an earthquake

Start spreadin' the news… they’re leavin' today… Wait, that’s about New York.

And maybe they’re not leaving. Paramount has been threatening to leave Los Angeles and California for a few months now. Leaving would take one of Hollywood’s "Big Five" studios out of the city, out of the state, but not out of anyone’s mind. Discussions appear to be ongoing within the studio, as FOX Business recently reported.

Paramount and Warner Bros. have been trying to merge their operations, and they have faced pushback from state and local authorities. California sued to stop it. In the midst of that, the studio is reportedly looking at other options, playing the field, flirting with Austin, Texas, and looking for office space in Nashville, Tennessee.

PARAMOUNT MUM, BUT LA OFFICIALS ON NOTICE AS RUMORS OF MOVE FROM CALIFORNIA TO NASHVILLE SWIRL

It’s not an idle threat. Long-running talent show "American Idol" has already made the move. The ABC revival announced recently that it’s ditching Tinsel Town for Atlanta. This will change its most iconic line – "You’re going to Hollywood!" But it also changes the tax situation of everyone involved, for the better. "You’re going to Atlanta!" doesn’t have the ring that the former line had, but give it time.

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Star after star has left Hollywood over the past few years. This is by no means an exhaustive list, but "American Idol" alum and first winner Kelly Clarkson left Hollywood and took her daytime talk show with her. Jason Eisenberg left for Indiana. Others include Glenn Powell (Texas), Harrison Ford (Montana), Matthew McConaughey (Texas), Ty Burrell (Utah), Jessica Biel and Justin Timberlake (Tennessee and Montana), and Dean Cain (Nevada) are just a sample of the stars who’ve decided California taxes and policies aren’t worth the hassle.

TV’s Superman fired powerful parting shots at what he called the "land of ridiculousness" on his way out.

"The policies are just terrible. The fiscal policies, the soft-on-crime policies, the homelessness policies," Cain said in June 2023. "The things that our leaders in California have been doing have driven out anybody who can really afford to get out. People are flocking out of there in droves."

Up to now, it’s just been stars and individual productions leaving Hollywood.

Paramount leaving would change the story entirely. Double that if the Warner merger goes through.

Hollywood’s Big Five are, currently, Disney, Universal, Warner, Sony and Paramount. The group would be reduced to either four or three depending on how things shake out. Either way, it’s a disaster for what is the world’s entertainment production capital. For now.

There is a pattern in most of the stars’ moves that would be replicated if Paramount moves to either of its most rumored destinations – Tennessee or Texas.

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They’re red states. With red state policies of lower taxation and regulatory burdens. They’re red states that tend not to let their cities burn while the mayor is out of the country, too. And then (probably) reelect that mayor.

California, New York and Illinois have become very good at driving Americans and businesses away and to red states, mostly Florida and Texas. Tennessee is in the game now, and while Georgia has gone purple, its production incentives should make California green with envy.

Texas already has the Silicon Prairie and Y'all Street and has been chopping away at its high property taxes. Florida has the beaches and sunshine and a sound taxation policy. Georgia and Tennessee have willing workforces and leadership hungry to bring in high-profile industries.

"Go West young man!" drove the ambitious toward California in the Gold Rush days, but it doesn’t mean anything in the century of Zoom, AI and easy mobility. The Volume, the revolutionary digital stage used to shoot "The Mandalorian" TV series, means California’s weather matters a whole lot less. If people can’t get their legislatures to lower taxes, they’ll find a state that will.

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California’s current tax collectors would just confiscate most of the gold anyway.

Paramount reportedly has yet to decide whether it’s moving or not. It may be able to wrangle some concessions out of the state and city and give them a reprieve. But the proverbial writing is on the wall, and it’s increasingly being written hundreds of miles away from Hollywood.

https://www.foxbusiness.com/entertainment/howdy-hollywood-why-paramounts-threat-leave-california-matters

Google Gemini accessed protected systems of 3 real companies during artificial intelligence cybersecurity testGoogle Gemini accessed three real companies' protected systems during a cybersecurity test, including one case where the AI repeatedly guessed passwords.

Google's Gemini artificial intelligence accessed the protected systems of three real companies while undergoing a cybersecurity test, including one instance in which the model repeatedly guessed passwords until it gained access.

According to The Wall Street Journal, the incidents took place in May and mark the first known examples of Google's AI autonomously accessing real companies' systems during this type of evaluation. Google confirmed the incidents to the outlet.

The disclosure comes amid heightened scrutiny surrounding AI as some industry leaders continue to raise concerns about the potential risks posed by increasingly advanced models.

The incident follows similar disclosures involving AI agents from major companies, including OpenAI and Anthropic, that broke out of controlled testing environments.

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The newly identified Gemini incidents took place during a test run by Irregular, a company that was also involved in evaluating AI models connected to similar incidents, the WSJ reported.

The AI had been instructed to attack a fictional company inside a controlled testing environment, but internet access was unintentionally available and the fictional company happened to share its name with a real business, according to Google and Irregular.

In a statement to FOX Business, Google emphasized that the model stopped in all three instances and said changes have since been made to the testing process.

"Safe development of powerful AI models is critical and we invest deeply in this area," Heather Adkins, Google's vice president of security engineering, told FOX Business.

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"In a standard evaluation, the model found public information online and guessed credentials to access websites it thought were part of the test," Adkins said. "In all three of these instances, the model stopped."

In one case, the model "guessed passwords until it gained access to a protected system," according to the report.

In the other two cases, the model found credentials in public online repositories that allowed it to access protected systems. In each case, Gemini ended the intrusion after determining that it had accessed a real company's systems, Google said.

Irregular notified Google about the incidents at the end of July, according to both companies, after the discovery that OpenAI agents had accessed systems belonging to AI software company Hugging Face.

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Google said that in all three cases, Gemini stopped after realizing it had reached an actual company rather than the fictional target.

No harm was caused to the companies, according to Google, which said all three were notified. The company did not identify the businesses involved.

Irregular said the model was not meant to have internet access, but access was unintentionally made available, according to the WSJ.

Google did not disclose which Gemini model was involved.

The report comes after OpenAI released information this week about six instances in which it said its models engaged in misaligned behavior.

OpenAI said it found examples of its AI models creating self-generated instructions, concealing mistakes in task summaries, fabricating information using exposed API keys, uploading files to the internet in order to cite them and engaging in unsanctioned communication and collaboration between agents.

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FOX Business has reached out to Irregular for comment.

FOX Business' Anders Hagstrom contributed to this report.

https://www.foxbusiness.com/technology/google-gemini-accessed-3-companies-systems-during-ai-cybersecurity-test

California entrepreneur warns billionaire wealth tax could trigger 'giant sucking sound' of business exitsEric Schiffer warns California's Proposition 40 wealth tax could trigger a mass exodus of billionaire entrepreneurs, draining jobs and tax revenue.

California entrepreneur Eric Schiffer warned that the state's proposed billionaire wealth tax could drive some of its most successful business leaders out of California, predicting a "giant sucking sound" of entrepreneurs heading for the exits if voters approve the measure.

Schiffer, chairman of family office Patriarch and CEO of Reputation Management Consultants, told FOX Business that he works with several billionaire clients, including some in California, and said many are unhappy about the proposal.

"I think the impact of this passing in California is a giant sucking sound of all of these entrepreneurs being sucked out of California because they're just not going to want to stay," Schiffer said.

"Why would anyone stay if they have spent their life building wealth that they were already taxed on?" he continued.

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"You're going to see some of the most brilliant, most successful men and women that have been the cornerstone of tax revenue and donational revenue and leading companies that are employing fleets of individuals and scores of individuals, they're going to say, 'No mas, I'm out. Goodbye,' because they don't feel respected or appreciated and they feel under attack," Schiffer said.

Proposition 40, which is on the Nov. 3 ballot in California, would impose a one-time tax equal to 5% of net worth on billionaires who were California residents on Jan. 1, 2026.

The tax would be due in 2027, although payments could be spread over five years at an additional cost. Real estate, pensions and retirement accounts generally would be excluded from the tax.

The measure has been endorsed by the California Democratic Party, while some notable leaders, including Gov. Gavin Newsom, have expressed opposition. California Republican gubernatorial candidate Steve Hilton has also warned that the billionaire tax would further strain the state's economy.

BILLIONAIRES AND BUSINESSES FUEL GROWING EXODUS FROM BLUE STATES

Schiffer argued that the tax could also affect Californians without billion-dollar fortunes, saying the consequences could reach their workplaces and economic opportunities.

"I think some of the consequences, if you're a working individual in California, is there's going to be less opportunity," Schiffer said.

He argued that if entrepreneurs relocate, the state could lose businesses, jobs, investment and tax revenue.

"If you think California, when you have all these billionaires bolt, isn't gonna hurt and isn't going to create problems and isn't going to reduce tax revenue and reduce jobs, boy, you're smoking some of the stuff that they're selling in California in some of these stores," he said.

Schiffer also argued that the state could eventually seek to impose similar taxes on people with smaller fortunes.

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"If they're going after billionaires, then the next thing is they're going after you if you're worth hundreds of millions of dollars," he said.

California's nonpartisan Legislative Analyst's Office said "some billionaires" may decide to leave the state in response to the tax, taking with them the income tax revenue they currently generate.

The LAO estimates those and other behavioral responses could reduce state income tax revenue by less than $1 billion per year. At the same time, it estimates the wealth tax would temporarily generate tens of billions of dollars over several years.

FOX Business asked Schiffer directly whether he would leave California if the policy eventually expanded beyond billionaires.

"If it got to the point where they're talking about people that may be worth more than a couple hundred million dollars in that range, California, unfortunately, would be in my rearview mirror," Schiffer said.

MAYE MUSK REVEALS THE ONE PIECE OF ADVICE ELON IGNORED: ‘HE DOESN’T LISTEN TO ME’

Billionaire Mark Cuban has separately argued that billionaire founders can be "cash poor, stock rich" because much of their net worth can consist of company shares rather than cash available to pay a wealth tax.

Schiffer made a similar point, saying some billionaires hold much of their wealth in stock, including shares of private companies.

Rep. Ro Khanna, D-Calif., one of the proponents of the wealth tax, has previously argued that the levy would help preserve health care for working-class Californians. He also said the "Sacramento establishment" and lobbyists opposing the measure were "blatantly out of touch."

Schiffer argued that the larger question is what the proposal tells people trying to build companies and accumulate wealth in California.

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"You're changing the contract that America has sent to entrepreneurs," he said. "And you're saying, this isn't a good place to do business."

"What we don't want to ever do is to lose the immense power and immense creative engines that the greatest entrepreneurs in the world continue to generate on behalf of the United States of America," Schiffer added.

https://www.foxbusiness.com/economy/california-entrepreneur-warns-billionaire-wealth-tax-could-trigger-giant-sucking-sound-business-exits

Uber ordered to pay $40M after driver leaves intoxicated California woman on freewayAn arbitrator ordered Uber to pay $40 million to the family of Emily Normandin-Parker after a driver kicked her out on a Southern California freeway.

Uber has been ordered to pay $40 million in the 2023 death of a Southern California woman who was struck and killed by a vehicle after her rideshare driver kicked her out on the side of a freeway.

Retired Judge Richard Stone, an arbitrator, rejected Uber's argument that it "merely operates a technology platform" and that it was shielded from "vicarious liability for the negligence of its drivers," according to Panish Shea Ravipudi, the law firm representing the family of 23-year-old Emily Normandin-Parker.

"Emily did everything Uber tells riders to do. She made the responsible choice not to drive, and we trusted Uber to get her home safely. That trust cost our daughter her life," parents Carol Normandin and Ken Parker said.

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Normandin-Parker, a 2020 UCLA graduate, was out with her friends in Costa Mesa when she called an Uber to take her to her Laguna Beach home with her friend, Luna Moore. They booked a rideshare on the Uber app.

Once in the vehicle, Moore vomited in Vu Tran's car, prompting him to illegally stop at a "gore point," which separated an exit ramp from the freeway, on State Route 73 instead of safely exiting to a safe location, the law firm said.

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Tran ordered both women out of the car and demanded a cleaning fee. Emily, who was intoxicated, was left stranded alongside multiple lanes of freeway traffic, where she was struck and killed.

Instead of calling 911, Tran left and requested that Uber charge Normandin-Parker's account a cleaning fee. Stone found that Tran "needlessly placed" his passengers in danger and showed "far more worry for his new car than he did for his passengers."

"No family should have to suffer the loss of a child, and our thoughts continue to be with the Normandin-Parker family," a company statement said. "We have continued to strengthen our approach to safety over the years, through new technology, policies and safeguards informed by safety experts, including additional guidance to drivers about avoiding drop-offs in unsafe locations. Our work on safety is never finished, and we will continue looking for ways to help make the platform safer."

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Parents can watch their teen’s Uber ride through the driver’s front-facing smartphone camera when live video is enabled.

Prior to the deadly incident, Tran had completed 6,000 trips with a 4.96 rating, without a single incident involving unsafe drop-offs, freeway stops or rider injury, Uber said.

https://www.foxbusiness.com/technology/uber-ordered-pay-40m-after-driver-leaves-intoxicated-california-woman-freeway

The fast-food chain where managers average more than $200K a yearChief Operating Officer Denny Warnick said the burger chain remains focused on competitive wages, benefits and career development opportunities.

In-N-Out Burger store managers make more than $200,000 annually on average, which the fast-food chain says reflects the company's philosophy of investing in its workforce.

"I can confirm that our In-N-Out Burger store managers earn more than $200,000 a year on average," Chief Operating Officer Denny Warnick said in a statement to FOX Business.

Warnick noted that In-N-Out's founders, Harry and Esther Snyder, believed in "taking really great care of our associates."

"Their philosophy was to treat associates like family and strive to be an outstanding employer, and paying higher-than-normal wages was one important part of that philosophy," he said.

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The burger chain is committed to offering competitive pay, benefits and career development opportunities, according to Warnick.

"Those values remain unchanged today under the leadership of our owner and president, Lynsi Snyder," he said.

"We’re committed to providing competitive wages, great benefits, a positive and enthusiastic work environment and opportunities for associates to develop and grow."

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Warnick added that many In-N-Out associates have worked for the chain for decades, helping carry on the values established by its founders.

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Earlier this month, the California-based chain, which operates in 10 states, announced two ingredient changes, removing sesame flour from its buns and replacing iodized salt packets with sea salt.

"We remain committed to serving our customers with the freshest, highest-quality food possible. Over the years, we’ve made meaningful changes to our ingredients, and this past year was no exception. We’re pleased to share our latest updates, and we’ll continue building on that commitment for years to come," the company said at the time.

FOX Business' Bonny Chu contributed to this report.

https://www.foxbusiness.com/retail/fast-food-chain-where-managers-average-more-than-200k-year

Nike parts ways with Kylian Mbappé; soccer superstar signs with OnMbappe had been signed with Nike for roughly two decades, and his agreement with On is the first it has made with a soccer player.{}

Mbappe had been signed with Nike for roughly two decades, and his agreement with On is the first it has made with a soccer player.https://www.cnbc.com/2026/09/18/kylian-mbappe-signs-with-on-after-nike-parts-ways.html

Ticket prices rise for Macklemore solo concert after Ed Sheeran tour removalTicket prices are rising for Macklemore's upcoming solo concert after the rapper was removed from Ed Sheeran's tour for making pro-Palestine comments.{}

Ticket prices are rising for Macklemore's upcoming solo concert after the rapper was removed from Ed Sheeran's tour for making pro-Palestine comments.https://www.cnbc.com/2026/09/18/macklemore-ticket-prices-rise-amid-ed-sheeran-tour-fallout.html

Apple's iPhone 18 goes on sale as customers line up at stores worldwideCrowds flocked to Apple stores worldwide for the iPhone 18 launch after the tech giant rolled out advanced camera upgrades, AI photo detection and its new flagship devices.

Apple fans eager to get their hands on the latest iPhone crowded stores worldwide on Friday.

The 18 Pro and Pro Max lineup, unveiled last week at Apple's annual event alongside its foldable phone Duo, features a reimagined camera with a DSLR-like aperture, improving performance in low-light environments and offering enhanced depth of field.

Apple also announced that the new line of iPhone 18s will be able to detect AI-generated photos by creating an unalterable Reference Image that lives alongside the edited one.

INSIDE JOHN TERNUS' FIRST APPLE LAUNCH EVENT AS CEO: FOLDABLE IPHONE DUO, AI AND MORE

The iPhone 18 Pro starts at $1,199, and the iPhone 18 Pro Max starts at $1,299 with lease options through Apple Upgrade.

Apple CEO John Ternus, who succeeded Tim Cook earlier this month, visited the company's flagship store on Fifth Avenue in New York City Friday. He posed for pictures and signed autographs for customers inside and outside the location in Midtown Manhattan.

APPLE UNVEILS FIRST FOLDABLE IPHONE, IPHONE 18 PRO LINEUP, NEW WATCHES AT ANNUAL LAUNCH EVENT

The new iPhone marks the launch of the new-and-improved Siri, powered by Apple Intelligence. The new Siri, called Siri AI, was announced in June but was delayed until now to make sure everything was right, according to Apple.

APPLE ENTERS A NEW ERA AS JOHN TERNUS TAKES OVER AS CEO

Siri AI runs on Google Gemini models and is able to perform features such as pulling information from messages, photos, emails and more. Users will also be able to draft messages and emails, edit photos and access past conversations with Siri.

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https://www.foxbusiness.com/technology/apples-iphone-18-goes-sale-customers-line-up-stores-worldwide

Maye Musk reveals the one piece of advice Elon ignored: ‘He doesn’t listen to me’Elon Musk's deep thinking and curiosity were apparent by age three, according to his mother, Maye Musk, who recalls his profound observations as a young child.

Long before Elon Musk was running multiple companies at once, his mother, Maye Musk, had a much simpler recommendation: pick one.

Elon Musk’s mother, Maye Musk, joined FOX Business’ Stuart Varney on "Varney & Co." to discuss her son’s ambitions, his childhood and the advice he ignored before taking on some of his biggest ventures.

Maye recalled a conversation with Elon after PayPal, when he was weighing what to pursue next.

"And that…came later after PayPal, when he said to me, should I do electric cars, or rockets, or solar energy? And I say, you've just worked so hard, just do one. So you see, he doesn't listen to me," Musk said.

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Instead, she said, her son went on to pursue several companies despite widespread doubts about whether they would succeed.

"And then he did six companies, and they were all going to fail. Remember? Everybody's fail, fail, fail and now I'm so proud of him," she said.

Maye said she noticed her son thought differently from an early age, recalling how he would become absorbed in deep thought as a young child before making observations that surprised her.

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"He was different because he would go into deep thoughts," she said, adding that he was making profound observations as young as three years old.

Looking back, Maye said her son's ability to recognize, describe and figure things out was apparent when he was a child.

"He could recognize things, and he can describe it, and I was saying, 'that's three-year-old, you know. He can figure out things,'" she said.

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https://www.foxbusiness.com/media/maye-musk-reveals-one-piece-advice-elon-ignored-he-doesnt-listen-me

The Connection Between Urbanization and Poverty: How Cities Can Reduce Poverty – Or Deepen It

UNITED NATIONS, September 18 (IPS) - Urbanization can help concentrate jobs, services, and investments; however, it can also concentrate unaffordable housing, insecure employment, and unequal exposure to contamination and environmental threats. A recent report from the UN Special Rapporteur on extreme poverty and human rights, argues that the difference is not urbanization itself, but how cities are planned, governed, and financed.

Read the full story, “The Connection Between Urbanization and Poverty: How Cities Can Reduce Poverty – Or Deepen It”, on globalissues.org →

https://www.globalissues.org/news/2026/09/18/44083 {"url":"https://static.globalissues.org/ips/2026/09/The-link-between_-100x100.jpg"}

Auto industry urges Trump to bar Chinese automakers in U.S. ahead of Xi visitLeaders of six major auto trade groups joined to sign a letter to the president.{}

Leaders of six major auto trade groups joined to sign a letter to the president.https://www.cnbc.com/2026/09/18/xi-visit-automakers-urge-trump-to-bar-chinese-automakers-in-us.html

Outpacing Foreign Aid, Migrant Remittances Are a Lifeline Ensuring Families Are Fed and Healthy, Says IFAD

BULAWAYO, Zimbabwe, September 18 (IPS) - Migrants now send home more money than foreign aid, and this is pulling rural families out of poverty, according to the International Fund for Agricultural Development (IFAD).

Read the full story, “Outpacing Foreign Aid, Migrant Remittances Are a Lifeline Ensuring Families Are Fed and Healthy, Says IFAD”, on globalissues.org →

https://www.globalissues.org/news/2026/09/18/44081 {"url":"https://static.globalissues.org/ips/2026/09/jeong-yunji-XYDd48THgOU-unsplash-100x100.jpg"}

Disney names CTO for the first time as media giant expands tech pushDisney has hired a chief technology officer, a newly minted role for the company, as it looks to further its embrace of tech under CEO Josh D'Amaro.{}

Disney has hired a chief technology officer, a newly minted role for the company, as it looks to further its embrace of tech under CEO Josh D'Amaro.https://www.cnbc.com/2026/09/18/disney-cto-tech.html

America's best and worst cities for housing affordability rankedA new report graded the nation's 100 largest metro areas on housing affordability and homebuilding, with Des Moines earning the top spot and Los Angeles finishing last.

Housing affordability varies dramatically depending on where you live.

A new Realtor.com report released this week graded the nation's 100 largest metro areas based on housing affordability and the pace of new home construction.

Joel Berner, senior economist at Realtor.com, told FOX Business that the rankings were designed to capture the current state of each housing market, as well as its long-term trajectory.

"It's really a balanced look at the present and the future for how things are affordable now and how they might be affordable in years to come," Berner said.

THE US CITIES WHERE HOME PRICES ARE FALLING THE FASTEST

Many metros across the Midwest and Sun Belt regions ranked high on the list, while several higher-cost coastal cities ranked near the bottom.

Des Moines, Iowa, topped the rankings with an A+ grade, followed by Raleigh, North Carolina; Columbia, South Carolina; Houston, Texas; and Indianapolis, Indiana.

Los Angeles ranked last with an F, followed by Providence, Rhode Island; New York City; Honolulu; and Boston.

The report comes as the U.S. continues to grapple with a housing shortage of more than 4 million homes after years of underbuilding, according to Realtor.com.

"Builders are getting squeezed on both sides," Berner said. "Their costs are going up, whether it's materials, labor or the cost of regulation. … And on the demand side, they're seeing depressed buyer activity because of high mortgage rates and low buyer affordability."

AMERICANS ARE LOOKING BEYOND THEIR LOCAL MARKETS FOR NEW HOMES — AND FLORIDA DOMINATES THE LIST: REPORT

According to Berner, the highest-ranked metros generally have local governments that make it easier and faster to build new housing.

"They have local government facilitating new projects, not getting in the way, not having really restrictive zoning laws, having quick permitting processes," he said.

"And these are places with strong job markets that are growing really fast, and the cities are allowing builders to absorb that increasing demand for homes in these growing cities by building a lot of them."

Many of those markets also have abundant land, Berner added.

"Those places really have some advantages that the coastal cities don't," Berner said. "Land is much more available. … They're also incentivizing these builders to produce dense urban housing as well as the kind of suburban developments that the developers have been working on for a number of years."

DALLAS EMERGES AS MAGNET FOR WEALTHY BUYERS AS HIGH TAXES WEIGH ON LUXURY MARKETS, BROKER SAYS

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Berner said that local officials hoping to improve affordability should start by revisiting zoning rules.

"I think the first thing they should do is look at their local zoning ordinances," Berner said.

https://www.foxbusiness.com/real-estate/americas-best-worst-cities-housing-affordability-ranked

Newsom advances AI 'kill switch' mandate under new California executive orderCalifornia Gov. Gavin Newsom signed an executive order accelerating the state's AI oversight efforts, while also calling on the federal government to begin regulating the emerging tech more stringently.

California Gov. Gavin Newsom, a likely 2028 presidential contender, signed an executive order Friday calling on the federal government to take a more active role in regulating artificial intelligence.

He said in a statement that the Trump administration has abdicated "its responsibility to protect Americans," as AI becomes more advanced and capable by the month.

Newsom's order recommends more stringent oversight on companies developing AI, while requiring those same firms to develop a "kill switch" for their frontier models in the event they go rogue.

AI HYSTERIA HAS A Y2K PROBLEM — AND THE STAKES THIS TIME COULD BE FAR HIGHER

"We're not waiting to act – we’re going to speed up our work on substantial and responsible AI oversight before it's too late. We’re going to do this thoughtfully but with urgent velocity; the stakes are too high to wait or delay action," Newsom said.

In a video on his personal YouTube channel, Newsom delivered a sharp critique of President Donald Trump, who recently said that the risks surrounding AI amount to a "hoax."

"There's still no comprehensive federal law, none, requiring AI companies to report dangerous incidents when they happen, and President Trump has rejected calls for new regulation. No new regulation. Let it rip. He's dead wrong," Newsom said.

The order, Newsom said, will speed up implementation of recently enacted California laws that establish a framework for independent organizations to assess AI systems for safety and potential risk.

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The order also moves up implementation of California's AI auditor registry and oversight program from January 2029 to December 2027.

Newsom acknowledged in hs video message that the idea of creating a so-called "kill switch" for out-of-control AI systems is still largely in its infancy. To explore the concept further, he said he'd be convening a panel of experts.

A kill switch "means a lot of things depending on who you talk to," Newsom said, adding, "So we want to flesh out exactly what that means and how to come up with a framework that works."

Sen. John Kennedy, R-La., attempted to introduce a federal AI kill switch bill this week, but his effort was blocked by Sen. Rand Paul, R-Ky.

"I think it would be crazy to get on the floor one day and regulate an entire industry," Paul told reporters. He argued that passing such a piece of legislation would require input from industry leaders.

Trump has generally opposed new AI regulations, arguing that excessive rules could hamper innovation. He has repeatedly defended data centers, saying they are good for the communities that host them.

He has also said that any slowdown in domestic AI development will lead to China outpacing the U.S. over time.

On Monday, Trump explicitly rejected calls from AI executives for the federal government to impose new limits on the technology. Among those calling for restraining AI were Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman and xAI CEO Elon Musk.

"The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!" Trump wrote on Truth Social.

https://www.foxbusiness.com/politics/newsom-advances-ai-kill-switch-mandate-under-new-california-executive-order

Wendy's franchisee files for Chapter 11 bankruptcy protection as burger chain strugglesOne of Wendy's biggest U.S. franchisees, Meritage Hospitality Group, filed for Chapter 11 bankruptcy protection.{}

One of Wendy's biggest U.S. franchisees, Meritage Hospitality Group, filed for Chapter 11 bankruptcy protection.https://www.cnbc.com/2026/09/18/wendys-franchisee-files-for-chapter-11-bankruptcy-protection.html

Why more companies are fighting over consumers' beauty, health and wellness spendingAs consumers prioritize holistic retail purchases, beauty, health and wellness are increasingly converging into one category and one consumer budget.{}

As consumers prioritize holistic retail purchases, beauty, health and wellness are increasingly converging into one category and one consumer budget.https://www.cnbc.com/2026/09/18/beauty-health-wellness-consumer-spending.html

Beauty, health and wellness are converging into one retail categoryAs consumers prioritize holistic retail purchases, beauty, health and wellness are increasingly converging into one category and one consumer budget.{}

Stephen Curry says his Li-Ning signature shoe will debut early next yearGolden State Warrior superstar Stephen Curry announced in June he was signing a long-term partnership with Chinese brand Li-Ning.{}

Golden State Warrior superstar Stephen Curry announced in June he was signing a long-term partnership with Chinese brand Li-Ning.https://www.cnbc.com/2026/09/17/stephen-curry-li-ning-signature-shoe.html

Netflix content chief Bela Bajaria defines event strategy as streamer eyes more live sportsBajaria said Netflix would be open to a package of international NFL games if one becomes available when the league renegotiates its media rights agreements.{}

Bajaria said Netflix would be open to a package of international NFL games if one becomes available when the league renegotiates its media rights agreements.https://www.cnbc.com/2026/09/17/netflix-bela-bajaria-live-sports-event-strategy.html

GM touts new V-8 engines in revived ‘truck wars’ with Ford, Ram amid lackluster EV salesThe large, gas-guzzling models continue to sell well in pickup trucks thanks to their ability to tow and haul heavy things.{}

The large, gas-guzzling models continue to sell well in pickup trucks thanks to their ability to tow and haul heavy things.https://www.cnbc.com/2026/09/17/chevy-silverado-gmc-sierra-v-8-engines.html

Charities say gifts by deceased donors are getting held up at financial firmsNonprofits are pushing back against policies by financial institutions to collect personal information of charity employees before releasing a gift.{}

Nonprofits are pushing back against policies by financial institutions to collect personal information of charity employees before releasing a gift.https://www.cnbc.com/2026/09/17/charities-ira-gifts-hurdles.html

NASCAR CEO Steve O’Donnell talks growth opportunities, possible international expansionCEO Steve O’Donnell said NASCAR's media strategy and the upcoming film "Days of Thunder 2" will help raise brand awareness and broaden its fan base.{}

J.B. Hunt stock plunges 13% after company warns third-quarter earnings will fallShares of J.B. Hunt plunged 13% Wednesday after the company warned of an earnings drop between 5% and 10%.{}

Shares of J.B. Hunt plunged 13% Wednesday after the company warned of an earnings drop between 5% and 10%.https://www.cnbc.com/2026/09/16/jb-hunt-stock-jbht-earnings.html

Boeing CEO: 737 Max production taking 'a little bit longer' to stabilize than expectedBoeing CEO Kelly Ortberg said wing production at its Renton, Washington, factory is a hold up, adding the company has plans to address it.{}

Boeing CEO Kelly Ortberg said wing production at its Renton, Washington, factory is a hold up, adding the company has plans to address it.https://www.cnbc.com/2026/09/16/boeing-ceo-737-max-production.html

American Airlines says 30% of seats drive half of revenue as premium cabin rush heats upAmerican says a minority of its seats now accounts for half of its revenue.{}

American says a minority of its seats now accounts for half of its revenue.https://www.cnbc.com/2026/09/16/american-airlines-ceo-first-class-seats.html

Tropical Smoothie Cafe is getting a makeover as it prepares for its 'next 3,000' locationsTropical Smoothie Cafe unveiled new branding as it grows rapidly under the ownership of private equity firm Blackstone.{}

Tropical Smoothie Cafe unveiled new branding as it grows rapidly under the ownership of private equity firm Blackstone.https://www.cnbc.com/2026/09/16/tropical-smoothie-cafe-announces-new-branding-plans-for-new-locations.html

Flyers are happier with U.S. airports, despite near record travel levels, J.D. Power report showsTravelers gave higher ratings in part because of the newer gates and terminals many airports have opened in recent years, according to the study.{}

Travelers gave higher ratings in part because of the newer gates and terminals many airports have opened in recent years, according to the study.https://www.cnbc.com/2026/09/16/airport-satisfaction.html

Ford increases V-8 engine availability, lowers performance prices for 2027 F-150 trucksFord said the changes are meant to provide customers with more choice and help expand sales of key models, a strategy CEO Jim Farley has touted.{}

Ford said the changes are meant to provide customers with more choice and help expand sales of key models, a strategy CEO Jim Farley has touted.https://www.cnbc.com/2026/09/15/2027-ford-f-150-trucks.html

Nike co-founder Phil Knight to donate $1.1 billion to Oregon medical centerThe gift to Providence St. Vincent Medical Center will support the creation of an all-women’s hospital as well as advance cardiovascular care across Oregon.{}

The gift to Providence St. Vincent Medical Center will support the creation of an all-women’s hospital as well as advance cardiovascular care across Oregon.https://www.cnbc.com/2026/09/15/nike-phil-knight-donation-oregon-medical-center.html

Children's clothing retailer Carter's is rebranding to appeal to a new generation of parentsChildren's clothing brand Carter's is announcing a rebrand as it tries to keep up with the modern parent and its core customer base.{}

Children's clothing brand Carter's is announcing a rebrand as it tries to keep up with the modern parent and its core customer base.https://www.cnbc.com/2026/09/15/carters-kids-clothing-retailer-rebrands.html

Potential AI slowdown is not ‘end of the world’ for data center real estate, says Digital Realty CEODigital Realty and Equinix, two of the largest data center REITs, saw their stocks slump after warnings over AI advancements.{}

Digital Realty and Equinix, two of the largest data center REITs, saw their stocks slump after warnings over AI advancements.https://www.cnbc.com/2026/09/15/data-center-reit-ceo-ai-slowdown.html

Warren Buffett steps down as chairman of Berkshire Hathaway

Legendary investor Warren Buffett is stepping down as chairman of Berkshire Hathaway, the company said on Friday.

"Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted," Buffett said in a letter to shareholders. "Father Time always wins. He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead."

Buffett's son, Howard Buffett, will take over, effective immediately.

This is a breaking news story. Please check back for updates.

https://www.foxbusiness.com/business-leaders/warren-buffett-steps-down-chairman-berkshire-hathaway

GM launching new customer software experience with redesigned Chevy, GMC pickupsThe new system comes as vehicles are becoming more digital, leading GM to also redesign its organizational processes.{}

The new system comes as vehicles are becoming more digital, leading GM to also redesign its organizational processes.https://www.cnbc.com/2026/09/15/2027-chevy-silverado-gmc-sierra-to-debut-gms-new-software-experience.html

U.S. auto market predictions for 2030: More hybrids, no Chinese entrantsDespite growing speculation that it won't be long until Chinese autos are sold in the U.S., John Murphy doesn't expect that to happen by 2030.{}

Despite growing speculation that it won't be long until Chinese autos are sold in the U.S., John Murphy doesn't expect that to happen by 2030.https://www.cnbc.com/2026/09/15/us-auto-market-predictions-2030-john-murphy.html

Kraft Heinz bets on more flavors for Philadelphia cream cheese as it looks to revive brandsPhiladelphia will release more cream cheese flavors as part of Kraft Heinz's turnaround.{}

Philadelphia will release more cream cheese flavors as part of Kraft Heinz's turnaround.https://www.cnbc.com/2026/09/15/kraft-heinz-new-philadelphia-cream-cheese-flavors.html

Bank of America expects third-quarter investment banking fees to fall more than 10%; shares slideThe muted outlook from the country's second-largest bank by assets could be an early signal that Wall Street's AI boom might have hit turbulence.{}

The muted outlook from the country's second-largest bank by assets could be an early signal that Wall Street's AI boom might have hit turbulence.https://www.cnbc.com/2026/09/14/bank-of-america-bac-q3-investment-banking-fees.html

Toys R Us makes major comeback with 120 new stores opening across US this holiday seasonYears after its 2017 bankruptcy and store closures, Toys R Us is making its biggest U.S. comeback yet with 160 standalone stores this holiday season.

Toys R Us is launching its biggest U.S. expansion in years, with 120 new standalone stores set to open in time for the holiday shopping season.

The retailer announced Thursday that it will open the new standalone stores across the U.S. this holiday season through a partnership with Go! Retail Group, bringing its total number of standalone U.S. stores to 160.

The rollout marks a major step in the brand’s yearslong effort to rebuild its brick-and-mortar presence since its 2017 bankruptcy and the closure of its U.S. stores the following year.

The company did not provide a full list of the new locations, their opening dates or store sizes in its announcement. It also did not specify whether all 120 stores will remain open after the holiday season.

RESTAURANT CHAIN ONCE FREQUENTED BY KARDASHIANS FILES FOR BANKRUPTCY AFTER 36 YEARS

The new stores will stock toys, collectibles and gifts tied to major brands and entertainment properties, including LEGO, Barbie, Hot Wheels, Pokémon and "KPop Demon Hunters," the company said. Select locations will also feature candy shops, cafés and Creator Studios, where influencers and toy companies can create content and host product launches.

"This is a major moment for Toys ‘R’ Us as we significantly expand our presence across the United States," Jamie Uitdenhowen, executive vice president of Toys R Us at parent company WHP Global, said in a statement.

Uitdenhowen said the company is attempting to reach shoppers through several formats, including standalone stores, Toys R Us shops inside Macy’s, airport locations and Navy Exchanges.

Go! Retail Group CEO Gideon Schlessinger said the companies expect the 160 standalone stores to bring the Toys R Us shopping experience to millions of customers during the holidays.

The announcement accelerates a yearslong effort to revive a retailer that was once a fixture of American childhood.

CHILI'S REVIVES ICONIC RED BOOTHS AND CLASSIC DESIGN IN NATIONWIDE RESTAURANT OVERHAUL

Toys R Us filed for Chapter 11 bankruptcy protection in 2017 after years of declining sales and under the weight of $5 billion in debt. The company shuttered its remaining U.S. stores in 2018 before reemerging under new parent company Tru Kids Brands the following year.

The retailer attempted an initial brick-and-mortar return in late 2019 with smaller-format stores in Paramus, New Jersey, and Houston, Texas. Both locations closed in January 2021 amid the COVID-19 pandemic.

WHP Global acquired a controlling stake in Toys R Us in March 2021 and opened a 20,000-square-foot flagship at the American Dream complex in New Jersey later that year.

The comeback gained more ground in 2022 when hundreds of Toys R Us shops opened inside Macy’s stores nationwide. Macy’s said at the time that its first-quarter toy sales were 15 times higher than during the comparable period before the partnership.

CROWDED AIRPORT LOUNGES FORCE AIRLINES TO RETHINK FUTURE OF TRAVEL PERKS FOR FLIERS

WHP Global then partnered with Go! Retail Group in 2023 to roll out more U.S. flagship stores under an expansion strategy dubbed "air, land and sea." The effort pushed the brand beyond traditional malls and included its first airport store at Dallas Fort Worth International Airport.

Toys R Us is now expanding that travel footprint in Florida. One shop-in-shop opened at Orlando International Airport in August through a partnership with WHSmith North America, and another is scheduled to open in summer 2027.

The company also operates locations through the Navy Exchange Service Command, which serves members of the military and their families.

Toys R Us said its global business generates more than $2 billion in annual retail sales through more than 1,680 stores and e-commerce operations in 37 countries.

https://www.foxbusiness.com/retail/toys-r-us-makes-major-comeback-120-new-stores-opening-across-us-holiday-season

Novo CEO tells CNBC why drugmaker is rebranding, needs to 'rethink' obesity strategyThe Danish drugmaker called the changes the beginning of a new chapter for the company, which faces stiff competition from Eli Lilly.{}

The Danish drugmaker called the changes the beginning of a new chapter for the company, which faces stiff competition from Eli Lilly.https://www.cnbc.com/2026/09/14/novo-nordisk-rebrands-to-novo-ceo-mike-doustdar.html

GM plans U.S. battery development as Trump's DOT attacks Ford for China tiesMost battery cells currently rely on raw materials from China. GM is seeking to establish domestic supply chains both for EVs and energy storage.{}

Most battery cells currently rely on raw materials from China. GM is seeking to establish domestic supply chains both for EVs and energy storage.https://www.cnbc.com/2026/09/12/gm-us-battery-development-ford-china-ties.html

National Cheeseburger Day 2026: Burger deals at McDonald's, Wendy's and othersBurger lovers can score free and discounted cheeseburgers at major chains, including McDonald's, Burger King, Wendy's, Five Guys, Carl's Jr. and Shake Shack.

Americans celebrating National Cheeseburger Day Friday can score free and discounted burgers at major restaurant chains, including McDonald's, Burger King, Wendy's, Five Guys and others.

Most of the deals are available through restaurant loyalty programs or mobile apps, and several require a minimum purchase.

Members of the MyMcDonald's Rewards program can get a free Double Cheeseburger on Friday with a minimum $1 purchase through the McDonald's app.

55-YEAR-OLD RESTAURANT CHAIN ABRUPTLY SHUTTERS LOCATIONS NATIONWIDE

"Since burgers are kind of our thing, we’d love for fans to come in and grab their favorite McDonald’s drink, snack or meal and add a Double Cheeseburger to celebrate the holiday with us," a spokesperson for McDonald's told FOX Business.

"And for fans who are looking for burger deals outside of the holiday, they can check out the McDonald’s App for deals every week."

Burger King is celebrating the holiday with a week of Royal Perks offers. On National Cheeseburger Day, loyalty members can receive a free Bacon Cheeseburger with a $3 minimum purchase through the Burger King app, according to USA Today.

The promotion is part of a weeklong lineup that also includes a free four-piece Chicken Nuggets with a $3 purchase on Sept. 19 and a free Original Chicken Sandwich with a $3 purchase on Sept. 20.

CHECKERS & RALLY’S CEO SAYS AMERICANS’ DEMAND FOR FAST-FOOD VALUE IS 'INTENSIFYING'

At participating locations, Buffalo Wild Wings customers can get a free cheeseburger with the purchase of another regularly priced cheeseburger, "Today" reported.

The one-time offer can't be combined with other discounts and excludes lunch combos and kids' menu burgers, according to the chain.

Wendy's Rewards members can add a Dave's Single Cheeseburger for $1.99 with any purchase through the chain's app or website at participating U.S. locations, USA Today reported.

Red Robin is giving away 400 digital gift cards to celebrate the holiday. Customers can enter by commenting on the restaurant's Sept. 18 post on Instagram or Facebook, as noted on its website.

Five Guys is offering a buy one, get one free burger of equal or lesser value through Friday, according to USA Today.

Customers must order online or through the Five Guys app and use the promo code "BOGOBURGER" at checkout. The offer is not valid for in-store purchases.

PANDA EXPRESS GUEST STUNNED AS EMPLOYEE STANDS ON FRYER WHILE CLEANING

Carl's Jr. Rewards members can get any burger for half price with the purchase of any Hand-Scooped Ice-Cream Shake on Friday through the chain's app, according to USA Today.

"It’s national cheeseburger day and I love cheeseburgers and shakes," the chain said in an Instagram post. "Go take advantage of my generosity."

Shake Shack customers can get a $5 single ShackBurger or single Cheeseburger with any purchase by using the code "BURGERDAY" in the Shake Shack app on the company's website or at in-store kiosks, according to USA Today.

For National Cheeseburger Day, 7-Eleven is offering a $6 meal deal that includes a 20-ounce Coke or Pepsi and a choice of an Angus Double Cheeseburger, Chicken Sandwich or Philly Cheesesteak, according to USA Today.

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Buffalo Wild Wings, Wendy's, Burger King, Five Guys, Carl's Jr., 7-Eleven and Shake Shack could not immediately be reached by FOX Business for comment.

https://www.foxbusiness.com/lifestyle/national-cheeseburger-day-2026-burger-deals-mcdonalds-wendys-more

Major airlines cut flights as higher jet fuel prices hit carriersExecutives at American, United and Southwest said higher fuel costs are squeezing airlines, though resilient travel demand has helped offset some of the pressure.

Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules.

The global average jet fuel price rose 6.1% week over week to $181.46 per barrel last week, according to the International Air Transport Association (IATA).

Speaking at Morgan Stanley's 14th Annual Laguna Conference, American Airlines Chief Financial Officer Devon May said fourth-quarter jet fuel prices are running about $1 per gallon above what the airline projected in July, adding roughly $1 billion to its fuel bill.

"Overall for the third quarter, we feel great," May said. "What's happened in the last four weeks, though is fuel's run up probably $1 a gallon or something like that for the fourth quarter alone."

AVELO CEO WARNS AIRFARES MAY RISE AS FUEL PRICES HIT 'UNCOMFORTABLY HIGH' LEVELS

May said American will continue adjusting capacity later in the fourth quarter in response to higher fuel costs.

American Airlines CEO Robert Isom said the airline still expects third-quarter revenue to rise 16% to 19% from a year earlier, citing strength across domestic and international markets as well as both premium and economy cabins, according to Reuters.

"When you take into account fuel right now, yes, we've absolutely done a great job of recapturing a tremendous amount of that expense," Isom said.

United Airlines Chief Financial Officer Michael Leskinen said some flights planned for December will no longer operate because of higher fuel prices.

"As you look into the fourth quarter, there'll be some flights in December that we won't fly that we thought we were going to fly," he said at the Morgan Stanley conference. "If fuel remains high, we'll make some adjustments into the first quarter and beyond into 2027."

AIRLINE PASSENGERS ROCKED BY TURBULENCE DURING DESCENT: 'WE STARTED TO PLUMMET'

Leskinen also described United's fourth-quarter bookings as "tremendously strong," saying premium travel, corporate demand and economy bookings have all remained resilient.

"Bookings have continued as we expected, so that piece of the equation is resilient — very little evidence of demand destruction," Leskinen said.

At the conference, Southwest Airlines Chief Financial Officer Tom Doxey said the carrier has already pared back about half of the modest year-over-year capacity growth it had planned at the start of 2026.

"If fuel is higher for longer," Doxey said, trimming capacity would be the "natural response."

However, a spokesperson for the airline told FOX Business the schedule adjustments made so far have been minimal and that Doxey was making an "illustrative point" about trimming capacity and was "not alluding to an action we've taken."

TSA REVIVES PRE-9/11 TRADITION WITH GATE ACCESS FOR CERTAIN TRAVELERS WITHOUT TICKETS

Doxey added that stronger-than-expected fall bookings have helped offset higher fuel costs, allowing Southwest to maintain its third-quarter earnings guidance, according to Reuters.

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Spokespersons for American Airlines and United Airlines told FOX Business the carriers had nothing further to add.

Reuters contributed to this report.

https://www.foxbusiness.com/markets/major-airlines-cut-flights-higher-jet-fuel-prices-hit-carriers

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