Invitation Homes CEO says ban on institutional homebuying will bring down prices, but not immediatelyThe CEO of the nation's largest single-family rental landlord said the new law banning large-scale investors from the market will lower prices in the long term.{}
Trump wants to split the MMR vaccine. Experts say that's unlikely — and comes with consequencesDoctors and other experts say that splitting the measles, mumps and rubella shot has no scientific basis and is unlikely to get off the ground.{}
Baby products company Frida is expanding into kids’ personal careBaby products company Frida is launching a new category of personal care items for kids, tapping into a growing market and largely untapped space.{}
Boeing sells eVTOL subsidiaries, takes stake in ArcherBoeing is selling three of its subsidiaries to Archer Aviation in exchange for a stake in the eVTOL startup.{}
Nearly 1M Chrysler, Jeep, Dodge and Ram vehicles recalled over camera glitchStellantis is recalling nearly 1 million Chrysler, Jeep, Dodge and Ram vehicles worldwide over radio software that may disable rearview cameras.
Chrysler parent Stellantis announced on Monday that nearly one million vehicles worldwide are being recalled over radio software that may prevent rearview cameras from displaying images properly.
About 955,000 Chrysler, Jeep, Dodge and Ram vehicles are affected by the recall.
This covers more than 848,000 vehicles in the U.S., including various 2026 and 2027 model year Chrysler Pacifica, Pacifica Plug-in Hybrid and Voyager, Dodge Charger, Jeep Cherokee, Compass, Gladiator, Grand Cherokee, Grand Wagoneer, Wrangler and Ram 1500, 2500 and ProMaster vehicles.
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About 107,000 vehicles are being recalled in Canada, Mexico and other countries. This includes nearly 83,000 vehicles in Canada, 8,000 in Mexico and 16,000 in markets outside North America.
If the rearview camera display fails to appear, drivers are instructed to use their rearview and side mirrors when reversing their vehicles, Stellantis said.
The automaker said it is unaware of any accidents or injuries in connection with the recall.
Vehicle owners will receive an over-the-air radio software update and will be prompted on the vehicle's media screen when the update is available.
NEARLY 50,000 CHRYSLER VEHICLES RECALLED OVER SEAT BELT SAFETY DEFECT
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Recall notices will be mailed to owners beginning next month with additional information and instructions.
In 2014, the National Highway Traffic Safety Administration adopted a rule requiring rear-visibility technology in new vehicles weighing under 10,000 pounds by May 2018, saying the U.S. had 210 deaths and 15,000 injuries per year on average caused by back-over crashes involving light vehicles. The regulator said children under age 5 accounted for 31% of those fatalities.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/nearly-1m-chrysler-jeep-dodge-ram-vehicles-recalled-over-camera-glitchHHS moves to tighten oversight of food ingredients as safety concerns mountHHS moves to tighten oversight of food ingredients and define ultra-processed foods as food safety concerns raise questions about FDA visibility.{}
Cyclospora fears lead consumers to lose their appetite for saladsTraffic to salad chains has fallen as consumers avoid greens due to the ongoing cyclospora outbreaks across the U.S.{}
Swig’s ‘dirty soda’ boom grows beyond Utah as investor touts ‘Starbucksification’ of soft drinksThe Utah-born beverage chain is finding some of its strongest growth outside its home state, where stores are outperforming Utah locations by 40% to 50%.
Swig, the Utah-born beverage chain that helped popularize "dirty soda," is finding some of its strongest growth well beyond its home state.
Andrew K. Smith, managing director and co-founder of restaurant-focused private equity firm Savory Fund, told FOX Business that Swig locations outside Utah are performing roughly 40% to 50% better than stores within the state.
The chain now operates in 23 states and expects to reach about 200 locations by the end of the year, Smith said, with additional expansion planned for next year.
Swig is best known for highly customizable drinks, particularly "dirty sodas" — fountain drinks mixed with flavored syrups, cream and other add-ins. The concept has surged in popularity in recent years, fueled in part by social media and pop culture.
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Hulu’s "The Secret Lives of Mormon Wives," which puts Utah culture in the national spotlight, also helped introduce dirty soda to a broader audience.
"We actually were doing very, very well before ‘The Secret Lives of Mormon Wives,'" Smith said with a laugh. "But ’The Secret Lives of Mormon Wives' definitely made, I think, the appeal and the interest and the mystique of dirty soda much more broad."
Smith said Savory Fund's investment in Swig was not simply a bet on soda. Instead, he sees the company benefiting from a broader shift in how Americans purchase their beverages.
Coffee followed a similar evolution, he said, going from something consumers routinely made at home to a premium and customizable product that they increasingly purchased from chains like Starbucks.
"Really what Swig is, and what it was, was the ‘Starbucksification’ of soda, teas and lemonades," Smith said.
Savory Fund manages more than $750 million in assets and has invested in restaurant brands including Swig, R&R BBQ, Mo’ Bettahs Hawaiian Style Food, Via 313 Pizzeria and PINCHO.
More recently, the firm invested in Zao Asian Grill, a 23-location Mountain West fast-casual chain that Smith believes could also expand well beyond its current footprint.
For Savory Fund, the goal is not simply to find the next trendy concept, according to Smith.
"As investors, and other investors that I would speak for, we don't chase concepts, and we're not chasing the right brand," Smith said. "We're backing exceptional founders, and we help them build enduring brands for our consumers."
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Smith also said consumers across Savory Fund’s portfolio have not stopped spending, but they are looking more closely at whether the food, service and overall experience justify the price they are paying.
"If you paid $20 for a meal, and you sit down, and you're like, this looks more like $11, they feel like they got kind of scammed," he said. "…You've got to make sure that your value on the plate is the same as the dollars that they're giving."
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Smith added, "Restaurants are one of the best real-time indicators of consumer confidence, because millions of decisions happen every day in this industry."
https://www.foxbusiness.com/retail/swigs-dirty-soda-boom-grows-beyond-utah-investor-touts-starbucksification-soft-drinksLARRY KUDLOW: Trump and the GOP Actually Have a Strong Election Message as Long as They Make ItPolls suggesting the president’s unpopularity could turn out to be very wrong in the midterm elections.
So one of the political lessons of the primary election season is how badly polls have been wrong. Comrade Abdul El-Sayed in Michigan was supposed to win by more than 20 percentage points, but instead barely escaped by a thin cat’s whisker.
And the extremist Francesca Hong in Wisconsin was also supposed to win by 20 points or so. But she lost by an even thinner cat’s whisker.
And there are plenty of other examples. Where am I going with all this? Well, all these polls show President Trump’s supposed unpopularity on Iran or the economy or the much-abused term affordability may turn out to be very wrong in the midterm elections.
Now, true enough, Mr. Trump’s not on the ballot, but I think when he really gets revved up on the campaign trail, and the GOP House and Senate people nationalize the election, we’re gonna find out that actual voters will reject big-government socialism and un-American values, as Newt Gingrich calls them.
Most of the recent polls don’t get likely voters. Instead they ask adults or registered voters and they’re frequently asking loaded questions. Now, one exception is my pal John McLaughlin, whose likely voter polls show that actually, people want Mr. Trump to finish Iran off. And additionally, a large majority prefers free market capitalism to socialism.
What’s more, the economy is doing far better than the mainstream press is telling us. Mr. Trump has always scored well with working class voters of all shapes and sizes. We are in a manufacturing boom. It is the strongest in years, probably decades.
Treasury Secretary Scott Bessent keeps telling people about the 105,000 hard goods producing jobs added this year alone. And since Mr. Trump came into office, the economy has produced 93,400 factory construction jobs. Think hard hats, think working folks.
Meanwhile, financial journalist John Carney reports that manufacturing wages have increased by nearly 5 percent so far this year. And that’s twice the inflation rate.
On top of that, we’ve seen almost 400,000 federal jobs drop, and almost 900,000 private sector jobs created, which shows the Trumpian reconstruction of Biden’s big-government socialism.
Now, speaking of affordability and inflation, the democratic socialists love to talk about it. But it was under President Biden’s big-government socialism that the consumer price index cumulatively rose 21.4 percent during his four years.
Now, recently, even with the temporary bump up in energy prices from the Iran War, Mr. Trump’s new Federal Reserve chief, Kevin Warsh, has brought the inflation rate down to near zero in the last couple of months. And frankly, just over the past six months only 2.4 percent at an annual rate, which is nearly akin to the Fed’s 2 percent target.
Also, talking about affordability, Here’s one: Prescription drug prices have been plunging. Over the past year, they have declined 3.4 percent. And during Mr. Trump’s second term, they have not increased in any single month.
Now, these are just snippets of potential national messaging. Clearly, though, Mr. Trump’s free enterprise capitalism is powering a prosperous economy. And, hopefully, it will be buttressed with some middle class tax reform as part of the midterm election package.
Now, just as clearly, Democrats favor Medicare for All and huge tax increases and a state-run economy and open borders and defunding the police and defunding ICE and packing the Supreme Court and ending the Senate and other crazy notions that I think are gonna be very unpopular with real likely voters.
So don’t pay much attention to these early polls.
https://www.foxbusiness.com/politics/larry-kudlowShein faces existential threat as tariffs hit low-price model, putting new focus on servicesShein has won over consumers with its low prices but is now seeing shoppers flee after new tariffs and changing regulations forced it to raise prices.{}
Rockstar Energy founder builds Celsius stake, wants to take over as CEORockstar Energy founder Russ Savage told CNBC he now controls 12 million shares of Celsius Holdings, amounting to roughly 4.7% of the energy drink company.{}
L3Harris ousts CEO Kubasik over conduct violationL3Harris Technologies CEO Christopher Kubasik stepped down after a board investigation found he engaged in misconduct unrelated to financials.
L3Harris Technologies said on Monday that CEO Christopher Kubasik stepped down from the role after an investigation by the board of directors found he engaged in misconduct, which led to the company reaching a separation agreement with him and naming his successor.
L3Harris' announcement didn't disclose the specific findings of the investigation, but said it "became aware of certain conduct that was not consistent with the values" outlined in the company's code of conduct.
It noted that the conduct was unrelated to L3Harris' financial reporting, controls, customer relationships or operational performance. The investigation was conducted with the assistance of outside counsel and prompted the board to determine that it was in the firm's best interest to enter into a separation agreement with Kubasik.
L3Harris appointed Sam Mehta as its new CEO following the move. Mehta joined the company in 2023 and has 25 years of experience in the aerospace and defense industry, most recently serving as L3Harris' president of space and mission systems (SMS) and communications and spectrum dominance (CSD).
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The SMS and CSD segments account for more than 80% of L3Harris' total revenue, the company noted in its announcement.
L3Harris lead independent director Lewis Hay III was named chairman of the board and said that Mehta is a "proven executive who brings deep knowledge of our business, priorities and culture, making him ideally suited to become president and CEO at this important time in our company's and our nation's history."
"Sam's readiness to lead L3Harris reflects the Board's robust succession planning and our focus on cultivating talent," Hay added.
Mehta said in a statement that he is honored by the opportunity to lead L3Harris as its president and CEO, adding that he looks forward to working more closely with leaders and colleagues across the company to support the defense contractors' mission.
"Today, L3Harris has a portfolio purpose-built for the future of warfare, and we are well-positioned to continue executing our focused growth strategy as The Trusted Disruptor," Mehta said.
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Regarding Kubasik's departure, Hay said that the departing executive had "overseen significant transformation during his tenure" and that the company appreciated his service, as they mutually agreed to implement the corporate succession plan.
Reuters reported that under the separation agreement the company reached with Kubasik, the former CEO won't receive severance payments, benefits or equity incentive awards. He will be permitted to retain and exercise previously vested stock options granted under L3Harris' equity incentive plans, per the report.
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During his tenure at the company, Kubasik helped drive the 2019 merger of L3 and Harris Corp., serving as president and COO before he became CEO in 2021. The company acquired Aerojet Rocketdyne for $4.7 billion in 2023 as it expanded its presence in the defense sector.
In January, L3Harris announced the spin-off of its missile solutions unit, as the Pentagon said it would take a $1 billion stake in the new company. That spin-off was postponed last month until at least mid-2027.
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Reuters contributed to this report.
https://www.foxbusiness.com/markets/l3harris-ousts-ceo-kubasik-over-conduct-violationJeanie Buss battling siblings over sale of remaining Lakers shares to new ownership group: reportsThe Buss family has voted to sell its remaining ownership stake in the Los Angeles Lakers to Bob Iger and Josh Kushner, who are purchasing the majority stake from Mark Walter.
Less than one week after Mark Walter shockingly sold the Los Angeles Lakers to Bob Iger and Josh Kushner, the Buss family is now relinquishing its own shares to the new majority owners.
At least, most of the Buss family wish to do so.
Earlier on Monday, ESPN reported the Buss family decided to sell the remaining 17.8% ownership stake in the iconic NBA franchise to Kushner and Iger.
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The family’s trust, which includes siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse, "received majority votes to allow trustees to execute the sale." The vote required four of six to agree to sell to "enact the tag-along provision of Mark Walter’s sale to Kushner and Iger, which valued the Lakers at $12.5 billion."
The outlet added that, once the transaction has been completed, Jeanie Buss will no longer have a required ownership percentage to remain the governor of the Lakers.
"We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction," the Buss family told ESPN in a statement. "We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can."
BOBG IGER, JOSH KUSHNER SHOCKINGLY PURCHASE LAKERS MONTHS AFTER MARK WALTER BECAME MAJORITY OWNER
"As a family" doesn't seem to be the case now. Jeanie Buss’s lawyer wrote a letter to the lawyers of her siblings explaining why she believes they can’t sell their minority stake to the new Lakers majority owners, according to CNBC.
In the last paragraph of that letter, the attorney writes, "On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the Controlling Owner of the Los Angeles Lakers and that your clients shall take no action on this supposed ‘vote’ to sell the 17.8% stake."
ESPN added later Monday night that Jeanie Buss "was the lone family member not in favor to sell as the five siblings voted 5-0 – including two of the three trustees – to sell the Buss stake."
Walter’s time as majority owner came to an end a year after purchasing the stake from the Buss family.
In June 2025, the Buss family decided to sell the Lakers to Walter for a then-record $10 billion. There was, however, some in the Buss family who felt misled by Jeanie in what they characterized as a rushed sale, per ESPN. They felt pressured to vote for the sale to go through.
In the end, all six siblings said "yes" to the sale, which closed in October 2025. The sale gave each sibling $500 million post-tax.
Within the sale to Walter, Buss was allowed to remain the governor of the Lakers given the 17.8% ownership stake still intact.
But Walter’s surprise sale of the Lakers comes amid a federal investigation into the Guggenheim Partners CEO. It was reported that the FBI recently seized Walter’s phone and laptop, as well as a high-ranking Guggenheim Investments executive’s this past year.
Some are viewing the Lakers’ sale as a quick way to liquify assets for Walter with potential legal problems ahead.
The Financial Times also reported Monday that Walter and his business partner, Todd Boehly, are looking to sell their stakes in the English Premier League’s Chelsea Football Club.
As part of this new addition to the deal that includes the Buss family shares, Kushner and Iger will roughly control 83% of the Lakers. They were slated to have 65% of control with just Walter’s shares.
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Kushner, 41, is the founder and managing partner of venture capital firm Thrive Capital, as well as co-founder and vice-chairman of Oscar Health. He is the younger brother of Jared Kushner, the son-in-law of President Donald Trump.
Iger, 75, is the former CEO of Disney, where he led the company to the acquisitions of Marvel, Lucasfilm and 21st Century Fox, to name a few.
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https://www.foxbusiness.com/sports/jeanie-buss-battling-siblings-over-sale-remaining-lakers-shares-new-ownership-group-reportsBurger King overtakes Wendy's as the nation's second-largest burger chainBurger King is once again the second-largest burger chain in the U.S. by system-wide sales.{}
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Meta heads to trial over alleged social media addiction, risks to childrenAttorneys general from California, Colorado, Kentucky and New Jersey allege Meta misled the public about the risks its platforms pose to children.
Social media giant Meta is heading to court in a case brought by a group of state attorneys general who claim the company designed its social media platforms to be addictive and misled the public about potential risks.
The trial is expected to begin with opening statements on Tuesday in the U.S. District Court for the Northern District of California in Oakland after the two sides went through the jury selection process last week and Judge Yvonne Gonzalez Rogers turned down Meta's request for the case to be dismissed. The trial is expected to last four to six weeks, with Meta CEO Mark Zuckerberg expected to testify.
Attorneys general from California, Colorado, Kentucky and New Jersey first filed the lawsuit in 2023 after a multistate investigation into the impact of Facebook and Instagram on young users. They argue that the platforms were designed to be addictive and that the company downplayed the potential impact on young people, while also alleging Meta violated federal law when it collected personal information from children.
Meta, which is the parent company of Facebook and Instagram, has denied wrongdoing and disputes claims that its social media platforms caused the harm alleged by states. It also argues that "social media addiction" isn't an officially recognized psychiatric diagnosis, which will be a significant point of contention at trial.
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California Attorney General Rob Bonta issued a statement last week after the court allowed the case to proceed, saying, "Meta designed a dangerous product for young users, knew it to be dangerous, and then lied to children, families, and the community about how dangerous it was."
A Meta spokesperson pushed back on the states' case against the company and said in a statement to FOX Business that the "limited claims are unsubstantiated and their financial demands are vastly disproportionate."
"The AGs offer no proof anyone in their states was misled, claim benign features like having an additional Instagram account somehow harmed their residents, and attempt to penalize Meta for industry-wide challenges like age verification. Rather than sticking to the facts or the law, the states have instead decided to chase an outlandish payout," the company spokesperson said, adding that the company stands by its "record of creating strong protections for teens, and look forward to making our case in court."
Meta has argued that the damages sought by the state attorneys general could reach as high as $1.4 trillion, which is nearly the size of the company's market capitalization – though the AGs haven't disclosed the amount they plan to seek at trial and will likely do so once the trial begins.
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Monte Mann, a partner at Armstrong Teasdale, told FOX Business in an interview that this will be a "bellwether case" for the theory that social media platforms were designed to be addictive and have harmful effects on young users.
Mann said that as someone who has tried cases like this one, he will be paying close attention to what internal Meta documents indicate about the company's knowledge of the allegedly compulsive nature of its products and their mental health impact, saying those documents "may be the star witness in the case."
"I will be very interested to see what the internal Meta, Facebook, Instagram documents say about what they knew of the compulsive nature of these products and services; when they knew it; whether they tried to enhance their design elements to take advantage of those things, what they disclosed to the public," he said.
Mann also noted that Judge Gonzalez Rogers appointed an advisory jury in the case, which can provide feedback and recommendations on community standards for children's use of social media that she may consider.
The Oakland trial is the latest high-profile case involving social media companies like Meta, which have faced numerous lawsuits brought by individuals, school districts and state governments over the alleged impacts of social media use on children.
A ruling in another prominent case was delivered earlier this month when a state court in New Mexico ordered Meta to pay $567 million and to overhaul its protections for teen users on Facebook and Instagram.
That followed a prior ruling from March which ordered Meta to pay $375 million for violating state law, with the company's total liability in the case at nearly $942 million.
Meta told FOX Business after the most recent ruling that it disagreed with the decision and vowed to appeal, explaining that the company is "confident in our record of protecting teens online and will continue to defend ourselves against claims that misrepresent the facts."
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FOX Business' Michael Sinkewicz, Sumner Park and Reuters contributed to this report.
https://www.foxbusiness.com/technology/meta-heads-trial-over-alleged-social-media-addiction-risks-childrenBuc-ee's opens first Arkansas location as chain expands across USBuc-ee’s expanded into Arkansas with a new 74,000-square-foot Benton travel center featuring 120 fueling positions and more than 200 jobs.
Buc-ee’s planted its flag in Arkansas on Monday, opening its first location in the Natural State as the Texas-based travel center chain continues an aggressive expansion across the U.S.
The new Buc-ee’s in Benton opened its doors at 6 a.m. CT and spans 74,000 square feet, with 120 fueling positions. The company said the sprawling travel center will create more than 200 jobs.
The Arkansas debut brings Buc-ee’s to 58 locations nationwide, further extending a brand that began as a Texas roadside institution into new markets across the country.
Located at 1400 Highway 229, the store offers the chain’s signature assortment of Texas barbecue, homemade fudge, kolaches, Beaver Nuggets, jerky and fresh pastries, along with the famously clean restrooms that have helped turn Buc-ee’s into a roadside destination.
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"We obviously picked Benton, the ‘Heart of Arkansas,’ to be the first Buc-ee’s in the Natural State," Stan Beard of Buc-ee’s said ahead of the opening.
"Folks on their way to or from Hot Springs or any number of beautiful destinations around Benton and Little Rock will stop in for our great Texas BBQ, the cleanest restrooms in the universe, and a pit stop beyond their wildest expectations," Beard added.
Founded in 1982 and headquartered in Texas, Buc-ee’s operates 37 stores in its home state, according to the company. Its footprint now also includes locations in Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Kentucky, Mississippi, Missouri, Ohio, South Carolina, Tennessee and Virginia.
The Benton opening came just five days after Buc-ee’s opened a new location in San Marcos, Texas, on Aug. 12, underscoring the pace of the company’s expansion beyond its longtime Texas base.
Earlier this year, Buc-ee’s entered two other new markets, opening its first Ohio location in Huber Heights in April before making its Arizona debut with a new travel center in Goodyear in June.
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More growth is already in the pipeline. Buc-ee’s is expected to open another travel center in Murfreesboro, Tennessee, on Nov. 16, followed by several additional locations across the country in the coming years.
Six locations are slated for 2027, including Ruston, Louisiana; Kansas City, Kansas; Gallaway, Tennessee; St. Lucie, Florida; Boerne, Texas; and Monroe County, Georgia. Another two are planned for 2028 in Mebane, North Carolina, and Lafayette, Louisiana.
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Additional locations are scheduled for 2029 and beyond, including West Memphis, Arkansas; Ocala, Florida; and Oak Grove, Kentucky, in 2029, followed by Hardeeville, South Carolina, in 2031.
https://www.foxbusiness.com/retail/buc-ees-arkansas-benton-openingCompanies scoff at airlines' cheapest business class tickets. 'The real value is flexibility'Some companies plan to shun the cheapest business- and premium- economy fares from their executives.{}
Ferrari's first EV sells for staggering $40M at Monterey auctionFerrari's first production electric car fetched $40 million at auction, with proceeds benefiting educational initiatives through the Ferrari Foundation.
Ferrari’s first fully electric vehicle sold for a staggering $40 million at auction in Monterey, California.
The 2026 Ferrari Luce "Tailor Made," identified as "Chassis 0," is the first production chassis from the Italian luxury automaker’s new electric vehicle program, according to RM Sotheby’s.
The one-of-a-kind Ferrari was sold during RM Sotheby’s Monterey auction, with all proceeds benefiting educational initiatives through the Ferrari Foundation, a 501(c)(3) public charity. The buyer’s premium was waived for the sale.
The Luce marks a major milestone for Ferrari as the company enters the fully electric vehicle market. Ferrari has described the model as the first fully electric car in the Prancing Horse’s history.
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The $40 million example was configured through Ferrari’s Tailor Made personalization program and features several details developed specifically for the vehicle.
Its exterior is finished in Madreperla Semi-Gloss paint, which Ferrari says produces iridescent reflections that shift from green to violet depending on the angle and intensity of the light.
Inside, the Luce features Perla-colored Le Mans metallic leather made from specially selected Swiss hides, along with Grigio Corvara secondary elements instead of traditional black trim.
Ferrari also equipped the car with dedicated wheels, bespoke brake calipers and special Ferrari badging set against an optical white background. A plaque identifies the vehicle as "Chassis 0," distinguishing it as the first production chassis in the Luce program.
The winning bidder will not take immediate possession. Following the auction, the car is expected to return to Ferrari’s headquarters in Maranello, Italy, with final delivery currently scheduled for the first quarter of 2027.
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The vehicle was built to U.S. specifications. If it was purchased by a buyer outside the U.S., that buyer will be responsible for export, import and federalization requirements, according to the auction listing.
https://www.foxbusiness.com/lifestyle/ferrari-luce-first-ev-40-million-auctionIs Miami really costlier than New York City? Why top developers say the math still favors FloridaTop developers in both Miami and NYC say South Florida real estate remains a bargain despite rising costs, citing no income tax, lower construction expenses and long-term value.
While recent economic data suggests South Florida has lost its cost advantage over New York, top real estate developers argue the numbers fail to tell the full story.
Key executives behind major residential skyscrapers in Manhattan and Miami argue South Florida is playing long-overdue catch-up after decades of underpriced real estate, while still offering buyers significantly more long-term value.
"Miami has earned a seat as one of the greatest cities in the world," Naftali Group EVP of marketing, sales and design Danielle Naftali told Fox News Digital. "As people have migrated down here, [and] made it a location that people are living permanently, obviously, things have become a bit more expensive… world-class restaurants opening here, the most amazing cultural institutions, entertainment, hospitality groups — everything that people really experience in major cities around the world. And, you know, those truly go hand in hand."
"Globally, Miami was playing catch-up to New York for long periods of time, and you can do this by price per square foot, you can do it by total dollars, what they sell for, but Miami used to trade at — as a local myself — I almost thought it was weird how inexpensive the real estate was here comparatively to cities like New York or London or LA," PMG Managing Partner Ryan Shear also told Fox Digital.
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"A lot of people have moved down here, not just people, but companies and a lot of high-profile people, and you're seeing big headlines about big trades and big sales and that's true and that is great for the city. I don't think it tells the whole story. I think Miami is still a value city," he added. "I still think it’s a bargain play down here."
A recent Bloomberg analysis of U.S. Bureau of Economic Analysis data found that the overall cost of living in the Miami-Fort Lauderdale-West Palm Beach metropolitan area has surpassed that of greater New York. The analysis separately found that housing costs in South Florida are roughly 5% higher than in New York and its suburbs. Additionally, consumer prices in South Florida have risen 36% since 2019, according to the U.S. Bureau of Labor Statistics, representing the second-highest inflation surge among major American markets, trailing only Tampa.
South Florida home prices have jumped 79% since the pandemic, according to S&P CoreLogic Case-Shiller data, while Florida's average annual homeowner's insurance premium stands at $8,292, roughly four times the average in New York state, according to Insurify.
"There's definitely a price gap that has changed. But what we see ultimately is that buyers are less sensitive to the price per square foot as the buyers have become more sophisticated," Naftali countered. "We see our buyers thinking about everything from lifestyle, services and amenities, finished palettes, and really the best quality. So this is something that people are really willing to pay that premium."
"Anyone that's buying in our development today will be able to see their appreciation over the next five to ten years," she said.
Beyond homebuyer costs, developers also face nationwide borrowing and insurance pressures. However, Shear emphasized that constructing a high-rise in Florida remains vastly more accessible than doing so in New York.
"It is still less expensive to build in Florida than New York. And not by a little, by like a decent, significant amount," Shear said. "Debt in Florida is the same as debt in Texas... Banks lend nationally and globally. So it's still affordable to build in Florida."
"Everything's relative. You know, we're relative to the world we live in. So, relative is South Florida trading at faster paces, absorption greater than what we see in a lot of markets… It's not a Miami thing. I think Florida in general is having a very good moment. And it's been going on for a while, and I don't think it's stopping," Shear said.
Florida remains one of nine U.S. states with no individual income tax, whereas top earners in New York City face combined state and local income tax rates of nearly 14.8%. ATTOM data show Miami-area property taxes have jumped 62% since 2019. Florida voters, meanwhile, will consider a constitutional amendment in November that would exempt the first $250,000 of a homestead's value from property taxes other than school district levies.
"There is definitely still tax incentive to Florida. That's very obvious. What we see, though, especially in the luxury sector, is that global luxury buyers, it's not that they're either going to New York or either going to Florida. Most of those buyers have a home in both locations. So there's definitely a tax benefit to being in Florida, without a doubt," Naftali said.
"It's just math. The effective tax rate, I believe, in New York, if you're in the top tax bracket, is somewhere between 50 and 55%, depending on what borough and so forth. There's no state income tax and there's no city tax here. So the top tax bracket is set by the federal government, that's it. That's the math. If anybody would tell you different, it's not an opinion, that just factually is the truth," Shear argued.
"I've read countless articles saying how real estate taxes are going through the roof. Well, it's not the real estate tax going through the roof. There's just more expensive real estate. It's not that the tax rate is changing," he continued. "But if you want to go to a city that's checking all these boxes that somebody's looking for — massive growth, massive job[s], large population, high rises and so forth — I think it's impossible to find one. So again, to the point of relativity, it's all relative to the next option. I think as an option, it does not get better than South Florida."
U.S. Census Bureau figures show the Miami-Fort Lauderdale-West Palm Beach metro area's median household income was $80,625 in 2024, about $1,000 below the national median of $81,604. The developers also pointed to infrastructure, permitting and school expansion as efforts to accommodate future population growth across South Florida.
While local median incomes may lag national benchmarks, Shear noted the region's economic engine is fundamentally changing as major employers relocate their corporate headquarters, rather than just opening small satellite branches.
"It's not just the people that are moving down here. People are moving their companies down here," Shear explained, noting that PMG shifted its primary headquarters from New York to Miami. "We've reached a tipping point where you're seeing companies... that are planting their flag in Miami and building companies or taking their existing company and moving them to Miami."
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"I think specifically in Miami, people will continue to move down here. As we said, this is no longer a seasonal location, right? You have everything here," Naftali said. "It's a continuous progression. So when you talk about the next five years, it's only going to continue to get better. So if you're able to get in now and invest in a new development down here, I think it's a great investment opportunity."
"Ask people, where do you want to spend the rest of your life?" Shear said. "Not everything's about price per square foot, and I still think it's a value play down here, but I think it is about a lot more down in Florida… Work hours, quality of life, weather, state income tax, restaurants, who's down here. I mean, Miami's culture now is incredible… how lucky are we to experience the world's cultures in one city? Fundamentally, people are moving down here and still are continuing to, not just because you save on taxes or there's good sun. I think people have finally figured out that living in Florida may just be a better life that they want, and that's invaluable."
https://www.foxbusiness.com/economy/miami-really-costlier-than-new-york-city-why-top-developers-say-math-still-favors-floridaSweetgreen cuts full-year outlook as cyclospora fears weigh on salesThe salad chain has not been implicated in the ongoing cyclospora outbreak.{}
American Airlines will stop upgrading elite flyers to business from coach on long domestic flightsAmerican Airlines will no longer give elite frequent flyers free upgrades from economy class to business on some of its longest domestic routes{}
As Mongolia Hosts COP17, Pastoralists Demand Space to Move, Survive and Restore
DAR ES SALAAM, Tanzania, August 17 (IPS) - After moving more than 6,000 km across Eurasia, the Silk Road Caravan has reached Mongolia with stories from pastoralists whose livelihoods are increasingly threatened by drought, degraded land and shrinking access to grazing areas.
https://www.globalissues.org/news/2026/08/17/43835 {"url":"https://static.globalissues.org/ips/2026/08/pastoralists-100x100.jpg"}How Global Aid Cuts are Undermining Women-Led Humanitarian Response in Sudan
UNITED NATIONS, August 17 (IPS) - Women-led and women’s rights organizations (WLOs) in humanitarian settings are collapsing amidst a complicated predicament in which needs are surging and international support is dwindling.
https://www.globalissues.org/news/2026/08/17/43834 {"url":"https://static.globalissues.org/ips/2026/08/Amna-Idres-Musa_-100x100.jpg"}Granola sold nationwide on Amazon recalled over salmonella contamination fearsLactation granola sold nationwide is being recalled after a supplier notified the company that a product containing an ingredient also used in the granola tested positive for salmonella.
Granola marketed to breastfeeding mothers and sold nationwide is being recalled over concerns that it may be contaminated with salmonella.
The Hampton Grocer, Inc., a New York-based company, is recalling certain 8-ounce packages of its Lacnola Lactation Granola after an ingredient used in the product was linked to a positive salmonella test, according to a company announcement posted Aug. 14 by the U.S. Food and Drug Administration (FDA).
The granola was sold nationwide through The Hampton Grocer’s website, Amazon and other online retailers between Oct. 21, 2025, and Aug. 12, 2026.
WALMART TOMATO BISQUE SOUP RECALLED OVER POSSIBLE LISTERIA CONTAMINATION
"The Hampton Grocers, Inc. of Montauk, NY is recalling Lacnola Lactation Granola, 8oz, because it has the potential to be contaminated with Salmonella, an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems," the announcement noted.
The recalled product comes in a pink stand-up pouch with UPC 850035324554.
Consumers should check their packages for either of the following lot codes and expiration dates:
POPULAR REESE'S, ALMOND JOY ICE CREAM BARS RECALLED OVER LABELING ERROR
The lot code and expiration date are printed in black ink on the upper-left side of the back of the package.
No illnesses have been reported in connection with the recall, according to the notice.
The potential contamination was discovered after a supplier said one of its products tested positive for salmonella. The granola contains the same organic moringa powder used in that product.
TOYOTA RECALLS 655K CAMRYS GLOBALLY OVER DISPLAY DEFECT THAT CAN KNOCK OUT SAFETY INDICATORS
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Production has been halted while the company and FDA investigate.
Consumers who purchased the recalled 8-ounce packages are being urged to throw them away and contact the place of purchase for a full refund.
The Hampton Grocer could not immediately be reached by FOX Business for comment.
https://www.foxbusiness.com/lifestyle/granola-sold-nationwide-amazon-recalled-salmonella-contamination-fearsA historic shortage is squeezing an American dinner staple and relief could be years awayTyson Foods closes beef facilities as America's cattle herd hits a 75-year low, driven by persistent drought that forced ranchers to sell early.
Relief from high beef prices may depend on something that can’t be fixed overnight: rebuilding America’s shrinking cattle herd.
America’s ranchers are facing their smallest cattle herd in 75 years, a shortage now rippling from pastures to some of the nation’s largest meatpackers.
Tyson Foods announced last week that it will close beef facilities in Illinois and Utah and pursue the sale of another in Washington as it reshapes its beef business amid what the company called one of the most historic cattle shortages the country has ever experienced. Tyson said recent USDA data suggest supply constraints are likely to persist.
THE UNEXPECTED FORCE KEEPING BEEF PRICES HIGH AND WHY THE PRESSURE COULD LAST FOR YEARS
USDA data shows the U.S. entered 2026 with about 86.2 million cattle and calves, the smallest herd since the early 1950s. That’s down from roughly 94.7 million cattle and calves in 2019, a decline of more than 8 million animals.
Rebuilding that lost supply will take time, particularly after years of conditions that pushed ranchers to shrink their herds.
Chief among them is persistent drought.
"The biggest thing has been drought," Eric Belasco, head of the agricultural economics department at Montana State University, previously told Fox News Digital.
He said years of dry weather have depleted grasslands across the West and Plains, leaving ranchers without enough feed or water to sustain their herds. Many have been forced to sell cattle early, including cows needed to produce the next generation of calves, making the road to recovery even longer.
The effects are reaching beyond ranches and into grocery stores, where consumers are paying more for beef.
IN TEXAS CATTLE COUNTRY, ONE RANCHER WELCOMES TRUMP’S FOCUS ON DECADES OF THIN MARGINS
According to USDA data, the retail value of Choice beef rose from about $8.51 per pound in August 2024 to $10.49 per pound in July 2026, an increase of roughly 23%.
Behind that price pressure is a cattle supply crunch that experts say has been years in the making.
"The biggest thing has been drought," Eric Belasco, head of the agricultural economics department at Montana State University, previously told Fox News Digital.
BEEF PRICES ARE CLOSE TO RECORD HIGHS — BUT AMERICANS AREN’T CUTTING BACK
He said years of dry weather have depleted grasslands across the West and Plains, leaving ranchers without enough feed or water to sustain their herds.
Many have been forced to sell cattle early, including cows needed to produce the next generation of calves, making the road to recovery even longer.
For consumers waiting for cheaper beef, the path to relief starts with rebuilding America’s cattle herds, a process that could take years.
https://www.foxbusiness.com/politics/historic-shortage-squeezing-american-dinner-staple-relief-could-years-awayInternational Criminal Court Under Attack
LONDON, August 17 (IPS) - In a recent Wall Street Journal piece, US Secretary of State Marco Rubio pledged to ‘dismantle’ the International Criminal Court (ICC). The Trump administration intends to pressure states into quitting the court, threatening sanctions, travel bans, visa restrictions and ‘increased scrutiny’ of states that receive its funding. At stake is the court’s ability to stand with victims of the gravest of human rights crimes.
Read the full story, “International Criminal Court Under Attack”, on globalissues.org →
https://www.globalissues.org/news/2026/08/17/43832 {"url":"https://static.globalissues.org/ips/2026/08/wanted_170826-100x100.jpg"}Western-Led Green Revolution Failing Africa
CAMBRIDGE, MA, USA / KUALA LUMPUR, Malaysia, August 17 (IPS) - As AGRA turns 20, a new report exposes its worsening failure to double productivity and incomes and halve undernourishment in participating African nations as promised.
Read the full story, “Western-Led Green Revolution Failing Africa”, on globalissues.org →
https://www.globalissues.org/news/2026/08/17/43831 {"url":"https://static.globalissues.org/ips/2020/09/Timothy-A.-Wise-100x100.jpg"}Armed suspect with machete, pickaxe detained by customers during Costco jewelry heist: reportsCostco customers and employees helped restrain a man accused of an armed jewelry robbery at a South Carolina warehouse store, according to local reports.
A machete- and pickaxe-wielding man was arrested after allegedly smashing into a jewelry display at a South Carolina Costco before customers and employees helped detain him, according to local reports.
Greenville police responded Thursday to the Costco on Woodruff Road after receiving reports of an armed robbery in progress, WSPA 7News reported, citing the Greenville Police Department.
Police identified the suspect as 24-year-old Jose Alejandro Giraldo, who allegedly entered the store and broke into display cases at the jewelry counter.
Giraldo was equipped with a machete and pickaxe and allegedly indicated that he had a gun when confronted, according to WSPA.
POPULAR RESTAURANT AT DISNEY SHOPPING AREA ROBBED BY SUSPECT IN SCUBA GEAR
FOX Carolina similarly reported, citing police, that callers initially described the weapon used to break the display cases as appearing to be a hammer. Police later confirmed Giraldo had a machete and pickaxe, the outlet reported.
Customers detained Giraldo inside the warehouse store until officers arrived, according to FOX Carolina.
Store employees also reportedly helped restrain the suspect.
One customer was injured while helping subdue Giraldo, prompting a response from emergency medical personnel, according to WSPA. The outlet did not immediately report the extent of the customer's injuries.
Giraldo was charged with armed robbery and third-degree assault and battery, according to both outlets.
A mugshot of Giraldo was subsequently released by the Greenville County Detention Center.
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FOX Business has reached out to the Greenville Police Department for comment and additional details about the incident.
https://www.foxbusiness.com/economy/costco-south-carolina-jewelry-robbery-machete-pickaxeSafeway closing more stores as Albertsons reshapes footprint after failed Kroger mergerAlbertsons closed 35 stores in fiscal 2025 as the grocer reassesses its footprint and continues opening and remodeling locations after its Kroger deal failed.
Safeway is closing additional stores as parent company Albertsons Companies reassesses its retail footprint following the collapse of its proposed $24.6 billion merger with Kroger.
Albertsons told USA Today that the company had slowed its potential "portfolio optimization" efforts while the Kroger transaction was pending, then resumed evaluating its store network after the deal fell apart. That process has included opening stores in areas where the company sees long-term demand while making what Albertsons described to the outlet as the difficult decision to close some locations.
The broader company closed 35 stores during fiscal 2025, more than triple the 10 it closed the previous year and up from eight in fiscal 2023, according to Albertsons’ latest annual filing. It opened nine stores during fiscal 2025 and ended the year with 2,244 locations across 35 states and Washington, D.C.
Those closures had a measurable impact on the grocer’s results. Store closures, net of new openings, reduced fiscal 2025 sales by $63.4 million, while costs associated with closed stores and surplus properties climbed to $45.1 million from $15.9 million a year earlier.
COSTCO BRINGS BACK FAN-FAVORITE KIRKLAND TREAT AFTER TWO-YEAR ABSENCE
Albertsons also continued investing in other parts of its store base. The company completed 94 remodels and opened nine new stores during fiscal 2025 as part of approximately $1.83 billion in capital expenditures, which also included investment in digital and technology platforms.
Albertsons operates 22 grocery banners, including Safeway, Vons, Jewel-Osco, ACME, Shaw’s and Tom Thumb, and employed approximately 280,000 workers as of Feb. 28, 2026.
The company did not provide USA Today with a full list of planned Safeway closures. The outlet reported that Safeway locations that have closed in 2026 include stores at 231 W. Jackson St. in Hayward, California; 2220 N. Coast Highway in Newport, Oregon; and 1601 Maryland Ave. in Washington, D.C.
Albertsons said it is working to place as many affected employees as possible in jobs at other stores, according to USA Today.
The store review follows the breakdown of Albertsons’ planned combination with Kroger, which was announced in 2022 and would have created one of the country’s largest grocery companies.
The Federal Trade Commission sued to block the $24.6 billion transaction, arguing that the combination would reduce competition and could lead to higher grocery prices and less competition for grocery workers.
On Dec. 10, 2024, the U.S. District Court for the District of Oregon granted the FTC’s request for a preliminary injunction blocking the merger. The FTC brought the challenge alongside nine state attorneys general.
The proposed deal subsequently collapsed, setting off litigation between Kroger and Albertsons.
Albertsons sought a $600 million termination fee from Kroger, while Kroger later filed counterclaims in Delaware disputing that it owed the payment and accusing Albertsons of undermining the regulatory process. Albertsons has disputed Kroger's account.
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Albertsons did not immediately respond to FOX Business’ request for comment on the closures.
https://www.foxbusiness.com/economy/safeway-store-closures-albertsons-kroger-mergerProtecting our ‘most vital infrastructure’: Pushing back on desertification
As heatwaves are turning deadlier, fires and disasters are razing cities, and rising seas are erasing territories. One environmental crisis remains dangerously overlooked: the degradation of the land beneath our feet.
https://www.globalissues.org/news/2026/08/17/43840 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Libraries/Production%20Library/31-07-2025-ILO-Mongolia.jpg/image100x100cropped.jpg"}First Person: Syrians lead efforts to clear rubble and rebuild lives
Communities in Syria are clearing rubble and rebuilding neighbourhoods and livelihoods torn down in the more than a decade of conflict and crisis in the country.
https://www.globalissues.org/news/2026/08/16/43833 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Collections/Embargoed/2026/08/11-08-2026-UNDP-Syria-01.jpg/image100x100cropped.jpg"}Maker of ice cream sold at grocery stores nationwide files for bankruptcy as it appeals $23.8M judgmentRebel Creamery reported $13.78 million in assets and $23.85 million in liabilities as it appeals a $23.785 million Van Leeuwen judgment.
Rebel Creamery has filed for Chapter 11 bankruptcy protection in Utah, reporting approximately $13.78 million in assets and $23.85 million in liabilities as it appeals a $23.785 million judgment awarded to rival Van Leeuwen Ice Cream in a trade-dress dispute.
Rebel ice cream is sold at Walmart, Kroger, Safeway and other grocery stores nationwide.
Rebel Creamery LLC filed for Chapter 11 protection on Aug. 14 in the U.S. Bankruptcy Court for the District of Utah, according to court records.
Van Leeuwen is listed among Rebel's unsecured creditors with a $23.785 million claim stemming from the federal judgment. Rebel listed the claim as disputed and noted that the judgment is under appeal.
MAJOR CARL'S JR OPERATOR REPORTEDLY SET TO SHUTTER, SELL DOZENS OF CALIFORNIA LOCATIONS
The Van Leeuwen judgment accounts for nearly all the unsecured liabilities that Rebel listed at fixed amounts in its bankruptcy schedules. The company also reported approximately $5.22 million in cash and cash equivalents, $2.59 million in accounts receivable and $5.65 million in inventory.
Rebel's voluntary petition estimated both its assets and liabilities at between $10 million and $50 million and said funds would be available for distribution to unsecured creditors. The filing lists Austin Archibald as the company's manager and member and Michael Johnson of Ray Quinney & Nebeker as bankruptcy counsel.
The bankruptcy filing came less than a month after U.S. District Judge Eric Komitee ruled that Rebel had intentionally infringed and diluted Van Leeuwen's trade dress through its ice cream packaging.
"The evidence at that trial left no doubt that Rebel infringed and diluted Van Leeuwen's trade dress and did so intentionally," Komitee wrote in a July 16 memorandum and order.
Van Leeuwen sued Rebel in 2021, alleging that the company's packaging copied the distinctive appearance of its ice cream pints.
DETROIT BANKRUPTCY CASE OFFICIALLY CLOSES MORE THAN 13 YEARS AFTER HISTORIC FILING
The court described Van Leeuwen's trade dress as including monochromatic cardboard pints with matching lids, a primarily pastel color palette, black script lettering and an overall minimalist design.
Komitee found that Rebel's packaging was similar and that the evidence supported findings of consumer confusion and bad faith. The judge ordered Rebel to stop selling products bearing trade dress likely to be confused with Van Leeuwen's and required the company to redesign its packaging.
Van Leeuwen sought $36.4 million in Rebel's profits, but the court reduced the award by 33%, finding that some sales were driven by demand for keto and better-for-you ice cream rather than the packaging at issue.
The reduction left Van Leeuwen entitled to $23.785 million in Rebel's profits from sales of ice cream pints bearing the infringing trade dress.
Court filings do not establish that the Van Leeuwen judgment was the sole cause of Rebel's bankruptcy filing.
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Rebel's bankruptcy paperwork lists the Van Leeuwen litigation as being on appeal.
https://www.foxbusiness.com/economy/maker-ice-cream-sold-grocery-stores-nationwide-files-bankruptcy-appeals-judgmentMark Cuban tells Ro Khanna 'you don't understand business,' threatens investment shift over billionaire taxMark Cuban warned Rep. Ro Khanna that California's proposed billionaire tax could drive startup founders out of the state, vowing to avoid investing there.
Mark Cuban told Rep. Ro Khanna, D-Calif., that he doesn't "understand business" during a heated clash over California's proposed 5% billionaire wealth tax, warning it could drive startup founders and investors out of the state.
The exchange centered on California's Proposition 40, a controversial ballot measure that would impose a one-time 5% wealth tax on residents with more than $1 billion in assets.
The measure has been endorsed by the California Democratic Party, while some notable leaders, including Gov. Gavin Newsom, have expressed opposition.
In a video posted on X on Saturday, Khanna made the case for the tax, arguing that it would help preserve healthcare for working-class Californians. He said the "Sacramento establishment" and lobbyists opposing the measure were "blatantly out of touch."
STEVE HILTON WARNS CALIFORNIA ECONOMY WILL 'ABSOLUTELY COLLAPSE' UNDER 'INSANE' BILLIONAIRE TAX
Cuban responded by arguing that founders of rapidly appreciating startups can become billionaires on paper without having hundreds of millions of dollars in liquid assets available to pay the proposed tax.
"They are the definition of cash poor, stock rich," Cuban wrote on X.
He warned that the measure could cause startup founders and investors to leave California.
"If this passes, only idiot startup founders stay in Cali," Cuban wrote.
TRUMP WARNS NEW HOCHUL, MAMDANI PIED-À-TERRE TAX COULD ACCELERATE NYC WEALTH EXODUS
Cuban went further, warning that the measure could also influence where he invests.
"I will make NOT being in California a pre requisite for an investment," he continued.
"Ideology is not a strategy Ro," he added.
Khanna then proposed a workaround for founders whose wealth is largely tied up in private-company stock.
"Why not a non recourse loan for pledged stock as collateral for this situation?" Khanna wrote.
KEN GRIFFIN'S NYC SKYSCRAPER MOVES FORWARD DESPITE FEUD WITH MAYOR ZOHRAN MAMDANI
Khanna proposed addressing the concerns surrounding illiquid founders by allowing them to pledge shares in their companies as collateral for a government loan that could then be used to pay the wealth tax.
The loan could remain outstanding for roughly 10 years, after which the founder would either repay the government in cash or the government would take possession of the pledged shares. Because the loan would be nonrecourse, the founder would not be personally liable if the company failed.
Cuban blasted the proposal.
"Ro, that's insane," he wrote.
Cuban argued that California would effectively lend founders money that would immediately be returned to the state as payment of the tax, meaning the arrangement would initially generate no additional cash revenue from those taxpayers.
"What's the point of that?" he wrote.
BOB IGER, JOSH KUSHNER SHOCKINGLY PURCHASE LAKERS MONTHS AFTER MARK WALTER BECAME MAJORITY OWNER
Cuban also argued that California could eventually wind up owning shares in private companies if founders were unable to repay the loans.
"Cali, You make it. We take it!" Cuban wrote.
Khanna pushed back on Cuban's criticism, arguing that the government would still collect the tax from billionaires with liquid assets.
"The government would still collect from the vast majority of billionaires who are not illiquid," Khanna wrote.
Khanna claimed that 72% of billionaire wealth is held in public stock and said the proposed financing mechanism would be aimed at true "paper billionaires" whose fortunes are tied to illiquid assets. He argued that if a private company succeeds, California would ultimately collect on the loan, while founders would not be personally liable if the company failed.
CALIFORNIA VOTERS TO CONSIDER BALLOT MEASURE TO INCREASE TAXES ON BILLIONAIRES
Khanna then broadened his argument, telling Cuban that ordinary Americans support higher taxes on billionaires.
"Mark, come on a road trip with me around California, Pennsylvania and the country and ask ordinary Americans how they feel about a billionaire tax," Khanna wrote. "Most say, I promise you, why only 5 percent?"
Cuban shot back: "You don't understand business Ro."
He argued that even a successful founder could spend 10 years growing a company, create thousands of jobs and pay hundreds of millions of dollars in federal and state taxes without ever having $250 million in liquid assets available to repay the proposed state loan.
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"Is that what you want your state to be?" Cuban wrote.
Khanna continued to push back, arguing that most of the roughly 250 California billionaires who could be affected by the tax do not face the liquidity problem Cuban described.
Cuban responded with his sharpest criticism yet, arguing that forcing startup founders to sell shares to satisfy the tax would punish entrepreneurs who reinvest their wealth into growing their companies, creating jobs and paying employees rather than taking cash out for themselves.
"Ro, this is the biggest f--- you in the history of entrepreneurship. Ever," Cuban wrote.
https://www.foxbusiness.com/politics/mark-cuban-tells-ro-khanna-you-dont-understand-business-threatens-investment-shift-over-billionaire-taxThe grass beneath our feet: Why rangelands matter
In northern Kenya, a herder scans the sky for rain that hasn't come. The grass his animals need is thinning by the day.
Read the full story, “The grass beneath our feet: Why rangelands matter”, on globalissues.org →
https://www.globalissues.org/news/2026/08/15/43830 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Collections/Embargoed/2026/08/10-08-2026-UNDP-Kazakhstan-rangelands.jpg/image100x100cropped.jpg"}PARAGUAY: ‘Transparency Should Strengthen Democracy, Not Turn Criticism of Those in Power into a Cause for Suspicion’
CIVICUS discusses the challenges posed by Paraguay’s ‘anti-NGO law’ with Hugo González, executive director of the Paraguayan Network of LGBTQ+ Artists (REPAR+), a civil society organisation (CSO) that promotes the rights of LGBTQI+ people, which has joined the constitutional challenge against this law.
https://www.globalissues.org/news/2026/08/14/43816 {"url":"https://static.globalissues.org/ips/2026/08/Hugo-Gonzalez-100x100.jpg"}Waymo gets regulatory approval to scale up robotaxi service across California, enter 2 new marketsWaymo's robotaxi service expands across Northern and Southern California after CPUC approval, adding Sacramento and San Diego as new markets.
Waymo announced Friday that it is expanding its autonomous ride-hailing business across Northern and Southern California, including into two new major markets.
The Alphabet-owned company said it plans to scale up its existing services across the San Francisco Bay Area and Los Angeles while bringing its robotaxi service to Sacramento and San Diego.
The announcement comes after the California Department of Motor Vehicles authorized Waymo to operate in the additional areas last year. On Friday, the California Public Utilities Commission (CPUC) approved the company's application to expand its autonomous ride-hailing service.
"Big news for the Golden State — we have received the CPUC's approval to expand our autonomous ride-hailing service across the SF Bay Area and LA, and bring our service to Sacramento and San Diego," Waymo said in a post on X.
WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUE
The company did not provide a timeline for launching service in the new areas but said the expansion would be "gradual and guided by our safety framework."
Waymo called the regulatory approval an important step in its California expansion.
"This is an important milestone that will allow Waymo to bring the safety and mobility benefits millions of Californians already enjoy to more communities across the state," the company said in a press release.
The company currently operates thousands of autonomous vehicles across the U.S., including in San Francisco, Los Angeles, Phoenix and Austin.
In February, Waymo announced plans to expand into Chicago as it seeks to establish a foothold in the Midwest.
The company said it had begun "laying the early groundwork" for operations in Chicago, starting with mapping and manual vehicle testing.
Waymo has also faced several recalls this year. Most recently, the company recalled nearly 4,000 robotaxis in June after more than a dozen incidents in which autonomous vehicles entered closed freeway construction zones, according to the National Highway Traffic Safety Administration (NHTSA).
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NHTSA said a software issue could allow affected vehicles to enter closed freeway construction zones and continue traveling at posted speeds. Regulators said the vehicles could fail to recognize or properly respond to certain construction-zone closures.
FOX Business has reached out to Waymo for additional information, including when the expanded California services are expected to launch.
FOX Business' Bradford Betz and Brittany Miller contributed to this report.
https://www.foxbusiness.com/technology/waymo-gets-regulatory-approval-scale-up-robotaxi-service-across-california-enter-2-new-marketsHarvard makes massive $2.2B SpaceX bet on Elon Musk's rocket companyHarvard Management Company revealed a $2.2 billion SpaceX stake as university endowments benefit from early investments in Elon Musk’s rocket company
Harvard University’s investment arm disclosed a $2.2 billion stake in SpaceX, revealing a massive payoff from an early investment in Elon Musk’s rocket company following its blockbuster public debut.
Harvard Management Company reported the position in a regulatory filing Friday, making SpaceX the largest individual stock holding disclosed in its $4.3 billion portfolio of U.S. equities.
The investment highlights how SpaceX’s record-setting June initial public offering delivered significant gains for university endowments that gained exposure to the company through venture capital investments, in some cases more than a decade ago.
SPACEX AND TESLA CHOOSE TEXAS FOR AI CHIP MANUFACTURING PLANT THAT WILL BE WORLD'S LARGEST BUILDING
Harvard Management oversaw about $57 billion as of June 2025, according to the latest publicly available figure.
Harvard is not the only university investor benefiting from SpaceX’s move into the public markets.
The University of California’s investment arm disclosed a position worth roughly $1 billion in a filing this week, while the University of North Carolina and Washington University in St. Louis also held investments in the company.
Harvard’s position could include both shares owned directly and stock distributed to the university through private investment funds.
Harvard Management Company and SpaceX did not immediately respond to FOX Business’ requests for comment.
CATHIE WOOD SAYS BATTERED SPACEX COULD BECOME 'MOST IMPORTANT COMPANY IN GLOBAL HISTORY'
SpaceX currently carries a valuation of more than $1.8 trillion. The gains arrive as university finances face pressure from uncertainty over federal research funding, demographic changes that are reducing the pool of college-age students and weaker returns from private equity.
Large university endowments have nevertheless delivered strong recent performance.
Endowment funds managing more than $500 million returned a median 18.9% before fees in the year ended in June, according to the Wilshire Trust Universe Comparison Service.
SpaceX shares have fluctuated since the company debuted at $135 per share. The stock fell 0.9% Friday to close at $140.
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Investment managers overseeing more than $100 million in U.S. equities generally must submit Form 13F within 45 days after the end of each quarter, providing a snapshot of their holdings in securities traded on U.S. exchanges.
https://www.foxbusiness.com/markets/harvard-makes-massive-spacex-bet-elon-musks-rocket-companyPARAGUAY: ‘Transparency Should Strengthen Democracy, Not Turn Criticism of Those in Power into a Cause for Suspicion’
CIVICUS discusses the challenges posed by Paraguay’s ‘anti-NGO law’ with Hugo González, executive director of the Paraguayan Network of LGBTQ+ Artists (REPAR+), a civil society organisation (CSO) that promotes the rights of LGBTQI+ people, which has joined the constitutional challenge against this law.
https://www.globalissues.org/news/2026/08/14/43816 {"url":"https://static.globalissues.org/ips/2026/08/Hugo-Gonzalez-100x100.jpg"}Walmart tomato bisque soup recalled over possible Listeria contaminationMore than 3,000 Marketside Tomato Bisque Soup Kits sold at select Walmart stores are being recalled over possible Listeria contamination
Kettle Cuisine LLC is recalling more than 3,000 Marketside Tomato Bisque Soup Kits sold exclusively at select Walmart stores because of possible Listeria contamination, according to a company announcement posted by the U.S. Food and Drug Administration.
The recall covers 3,240 14-ounce Marketside Tomato Bisque Soup Kits with UPC 194346474004 and a use-by date of Aug. 22, 2026. The products were distributed from June 30 through July 7, to select Walmart stores across 29 states.
Kettle Cuisine initiated the recall after routine company testing produced a presumptive positive result for Listeria monocytogenes, according to the announcement. The company said it is continuing to investigate in coordination with the FDA.
No illnesses associated with the recalled soup have been confirmed, the company said.
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FOX Business reached out to Kettle Cuisine for additional information about the testing, whether the presumptive positive result has been confirmed and whether additional products or lots are being tested.
FOX Business also reached out to Walmart for comment, including whether all affected products have been removed from store shelves and how the retailer is notifying customers who may have purchased the recalled soup.
The affected products were distributed to select Walmart stores in Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Missouri, Mississippi, North Carolina, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Texas, Virginia, Vermont, Wisconsin and West Virginia.
Consumers should not eat, serve, sell or distribute the recalled soup, according to the announcement. They should dispose of the product or return it to the place of purchase for a refund.
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Listeria monocytogenes can cause serious and sometimes fatal infections in young children, older adults and people with weakened immune systems. Healthy people may experience short-term symptoms including fever, severe headache, stiffness, nausea, abdominal pain and diarrhea. Infection can also cause miscarriage and stillbirth in pregnant women, according to the recall notice.
Consumers should not rely on the product's smell or appearance to determine whether it is safe, the announcement said. People who handle the recalled soup should wash their hands and clean and sanitize refrigerators, freezers, containers, utensils, countertops and other surfaces that may have come into contact with it.
Anyone who ate the recalled product and develops symptoms of listeriosis should contact a healthcare provider, according to the announcement.
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Consumers with questions can contact the Kettle Cuisine hotline at 617-409-1104.
https://www.foxbusiness.com/lifestyle/walmart-tomato-bisque-soup-recalled-possible-listeria-contaminationRoughly 23 million Americans trapped in jobs they want to leave over one costly fearA growing number of Americans are staying in unwanted jobs to keep their health coverage as medical debt and rising costs squeeze household finances.
Nearly one in four American workers with employer-sponsored health insurance say they are stuck in jobs they want to leave because they fear losing coverage.
About 24% of U.S. workers with job-based insurance – roughly 23 million adults – are experiencing "job lock," up sharply from 16% in 2021, according to a report from the West Health-Gallup Center on Healthcare in America.
The survey defines job lock as remaining in a job despite wanting to leave due to concerns about losing health insurance.
"Job lock is on the rise in America," the report noted. "Nearly a quarter of U.S. employees report staying in a job they want to leave to keep their health insurance, a powerful constraint on worker mobility, productivity, entrepreneurship and wage growth."
The surge comes as soaring healthcare costs squeeze household budgets.
About half of Americans said they struggle to consistently pay for needed medical care or prescriptions, while 51% are worried about affording healthcare over the next year — the highest level in five years, as noted in the report.
OBAMACARE EXCHANGE FLAW EXPOSED AMERICANS TO UNEXPECTED HEALTH PLAN SWITCHES, WATCHDOG FINDS
Workers under greater financial strain were far more likely to report feeling trapped.
Among those with medical debt, 44% reported job lock, more than double the 21% rate among those without medical debt.
Nearly half of respondents who cited healthcare costs as a "major financial burden" reported job lock. The rate rose to 53% among those experiencing "a lot of stress" over medical expenses, the report noted.
Chronic health problems also made workers more likely to stay at their jobs.
About 29% of those with at least one chronic condition reported job lock, compared with 17% of those without one.
That rate grew to 41% among people with three or more diagnoses.
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Women were also more likely than men to remain in unwanted jobs for health benefits, at 30% compared with 20%, according to the report.
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The findings were based on a national survey of 5,660 adults conducted from Oct. 27 to Dec. 22, 2025. The analysis focused on 2,322 employed adults with employer-sponsored insurance.
"The effects extend beyond morale – reducing labor market efficiency, upward mobility and quality of life," as noted in the report. "With coverage tied to employment, a growing share of American workers report making career decisions based on insurance rather than opportunity."
https://www.foxbusiness.com/lifestyle/roughly-23-million-americans-trapped-jobs-want-leave-over-one-costly-fearPakistan’s Crackdown on Journalists Comes Under Heavy Fire
UNITED NATIONS, August 14 (IPS) - Pakistan, one of few South Asian countries to oscillate between democratic governments and authoritarian regimes, is cracking down on journalists, including foreign correspondents covering the political situation in the world’s fifth most populous nation, with an estimated population of over 250 million people and ranking behind India, China, the United States, and Indonesia.
https://www.globalissues.org/news/2026/08/14/43815 {"url":"https://static.globalissues.org/ips/2026/08/Committee-to-Protect-Journalists_-100x100.jpg"}African Rights Advocates Coordinate Response to Family Law Backlash
NAIROBI, August 13 (IPS) - Women’s rights advocates, judges and lawyers have launched a coordinated campaign to reform family laws that discriminate against women and girls in Africa.
https://www.globalissues.org/news/2026/08/13/43812 {"url":"https://static.globalissues.org/ips/2026/08/lady-justice-100x100.jpg"}California Pizza Kitchen co-founder opens up about famous chain's wild rise, bankruptcy and comebackRick Rosenfield reveals how Golden Gate Capital damaged CPK's culture before the pizza chain's Chapter 11 bankruptcy filing from its Beverly Hills origins.
On a quintessential Beverly Hills street in 1985, a restaurant that would help transform the pizza industry opened its doors.
After years of practicing law as federal prosecutors and criminal defense attorneys, co-founders Rick Rosenfield and Larry Flax chose to leave the courtroom behind to pursue their dream of becoming restaurateurs.
"We didn't want to open just a restaurant. We decided to be bold. We said we want to open a national and international chain of restaurants," Rosenfield told Fox News Digital.
With its Original BBQ Chicken Pizza and polished approach to casual dining, California Pizza Kitchen helped popularize California-style pizza among diners across the U.S. and eventually around the world. The chain became a household name while helping bring a distinctive, California-inspired approach to pizzas, pastas, salads and desserts.
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California Pizza Kitchen has more than 120 restaurants in 10 countries. But, at one point, CPK existed only in a single storefront on South Beverly Drive.
Rosenfield recalled the restaurant's early days in Beverly Hills as "hectic," with actress Shirley MacLaine becoming its first customer on opening day.
"Even before we opened, we knew we had a blockbuster on our hand. We created barbecue chicken pizza. And in the early days of CPK, it was complete craziness. Everybody was coming for barbecue chicken pizza," said Rosenfield. His book, "The California Pizza Kitchen Story: How Two Federal Prosecutors Changed the Way America Eats Pizza," was released July 21.
Rosenfield and Flax employed a real estate strategy that helped expand CPK's reach, opening restaurants in and around shopping malls.
"CPK also had a hand in changing the way America eats because we were pioneers in going into upscale shopping centers around America at a time when … there was all fast food," Rosenfield said. "We brought this polished, casual dining to the best malls in America."
After Rosenfield and Flax expanded CPK to more than 200 locations worldwide, the pizza giant was acquired for $470 million by private equity firm Golden Gate Capital in 2011.
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At the time of the acquisition, the San Francisco-based firm described itself as "one of the most active acquirers of leading brands in the restaurant and retail sector."
Nine years after Golden Gate Capital acquired the chain, CPK filed for Chapter 11 bankruptcy protection on July 30, 2020, after the COVID-19 pandemic compounded its existing financial troubles.
Rosenfield, however, told Fox News Digital he believes CPK's troubles began before the bankruptcy filing, arguing that Golden Gate Capital damaged the culture he and Flax had spent decades building.
"As founder, it's hard to sit back because I had no role in it whatsoever. So, we're armchair quarterbacks looking from the outside," he said.
"I believe that they damaged the culture from day one. They wanted to remake it in an image different than we had remade it in. And in the meantime, it wasn't successful," the co-founder continued. "And it continued to decline on that basis, unfortunately. As I said, while we sat and watched it, and then it was ultimately driven into bankruptcy."
Golden Gate Capital declined Fox News Digital's request for comment.
California Pizza Kitchen emerged from bankruptcy in November 2020, and Rosenfield, who said he still dines at CPK every several weeks, is optimistic about the chain's future under new ownership that he believes is "committed" to restoring the brand's success.
The acquisition of California Pizza Kitchen (CPK) by New York-based Consortium Brand Partners was announced in December 2025 for a deal valued at just under $300 million. Rosenfield said he is "thrilled" with the direction the restaurant is headed in under the new ownership.
"I believe they want to bring the brand, not only to its former glory, but to new glory," said Rosenfield. "I have confidence in this team. And for the first time in all these years, my partner, Larry Flax, and I are very excited about where it could go."
Rosenfield reflected on the legacy he and Flax built from a small, leased space in Beverly Hills, telling Fox News Digital that the 41-year-old restaurant chain "accomplished" exactly what they envisioned from the beginning.
"I love that everybody has a CPK story. That's what drove me to do the book," the co-founder said. "It's accomplished what we wanted. Grandparents, parents, kids all have a place that they can all go to and agree to go to.
"While I said that I believe that they did damage to the culture in the years past, I think the food has been incredibly consistent. And I've always been extremely, I'm extremely proud of the brand."
https://www.foxbusiness.com/media/california-pizza-kitchen-co-founder-opens-up-about-famous-chains-wild-rise-bankruptcy-comeback