UPS to invest $48 million in temperature-controlled facilities amid healthcare boomUPS is announcing a new investment in healthcare logistics as demand for the temperature-controlled category booms, CNBC has learned exclusively.{}
Former Federal Reserve chair Alan Greenspan dies at 100
Alan Greenspan, former chair of the board of the governors of the Federal Reserve System, died on Monday, according to a statement from his wife Andrea Mitchell, which was reported by NBC News.
"Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease," Mitchell said in a statement, according to the outlet.
"He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes," she noted.
Dwindling Humanitarian Aid Devastates the Rohingyas in the World’s Largest Refugee Camp
UNITED NATIONS, June 22 (IPS) - Nearly nine years after the violent persecution of the Rohingya minority population in Myanmar and the following mass exodus of refugees, over 1.2 million Rohingya currently reside in neighbouring Bangladesh, where they face immense challenges. With the United Nations (UN) recording significant shortfalls in global humanitarian funding, alongside Bangladesh’s diminishing ability to support these populations, experts warn of a deepening humanitarian crisis.
https://www.globalissues.org/news/2026/06/22/43360 {"url":"https://static.globalissues.org/ips/2026/06/two-year-old-girl-suffering_-100x100.jpg"}Global South Leaders Redesigning International Cooperation
BANGKOK, Thailand, June 22 (IPS) - The fallout from the sudden collapse of the old system of financing international cooperation has been disastrous, unleashing a wave of harm and leaving the world more vulnerable to shocks and less able to respond to them. The wreckage is plain to see. The issue is what to do next.
https://www.globalissues.org/news/2026/06/22/43359 {"url":"https://static.globalissues.org/ips/2026/06/Coalition-of-Governments_-100x100.jpg"}In 2025, Government Forces were the Greatest Perpetrators of Violence Against Children in Armed Conflicts
UNITED NATIONS, June 22 (IPS) - A record number of children were subject to grave violations by parties to armed conflicts, the highest since the UN mandate for children and armed conflict (CAAC) was established in 1996.
https://www.globalissues.org/news/2026/06/22/43358 {"url":"https://static.globalissues.org/ips/2026/06/Mirindi-Johnson-100x100.jpg"}California exodus 2.0: How SpaceX, tech IPOs could trigger the next massive wealth flight to FloridaIPO debuts from SpaceX, OpenAI and Anthropic could trigger a "Tech Exodus 2.0" out of California, as newly minted millionaires flood South Florida real estate.
A fresh wave of Silicon Valley wealth could soon flow into South Florida.
With OpenAI quietly filing for a confidential IPO alongside market debuts from aerospace giant SpaceX and AI rival Anthropic, billions of dollars in overnight liquidity are about to be unlocked for executives and middle management alike. But instead of reinvesting in the Golden State, this incoming class of newly minted tech multimillionaires is already flooding Florida real estate brokers with calls — triggering what experts say could be a rapid-fire "Tech Exodus 2.0" measured in months, not years.
"The California area codes have already started showing up," Fort Lauderdale Downtown Development Authority CEO and President Jenni Morejon told Fox News Digital. "It's just that the conversations are evolving."
"We get that Malcolm Gladwell ‘tipping effect,’ where you almost have to be in Miami because a lot of your friends and family and neighbors are moving here," DaGrosa Capital Partners founder and chair Joe DaGrosa also said. "We saw that happen in New York. I think we're going to see the same thing happen out of California."
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Despite its strong talent pool, "Silicon Valley is absolutely a boring place to live compared to Miami," real estate magnate and Naftali Group CEO Miki Naftali added. "How can you even compare between living in Miami and Silicon Valley?"
This week, SpaceX stock continued to surge following its record-setting IPO last Friday on the Nasdaq, rising more than 35% since it started trading. That briefly made it the fourth-largest global company by market cap before some of those gains were pared back.
SpaceX's valuation success bleeds into the highly anticipated IPOs of OpenAI and Anthropic, which Reuters reports are both expected to list in late 2026.
Once an IPO hits the public stock market, those paper shares or stock options that employees might own instantly transform into liquid, tradable cash.
"There is going to be this transitional event with the IPO where executives are finally gonna see probably the biggest cash day most of them have ever seen in their lives. And many of them are not making millions, they're making tens of millions overnight. And I think that's going to have them thinking long and hard about South Florida and Miami in particular," DaGrosa, whose firm has spent much of the last two decades investing in real estate, said.
"What we're seeing here is a shock in a positive way to the financial balance sheets of individuals, particularly out in California, where I think they're gonna be moving in a matter of months, not years or decades," he continued.
Nestled between West Palm Beach and Miami, Fort Lauderdale is poised to welcome the tech titans, according to Morejon. The "low-key" culture of Fort Lauderdale and its private neighborhoods could prove to be a refreshing change from the spotlight of California.
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"Having newcomers here with wealth is really a calibration. Fort Lauderdale has always attracted wealth that's active, it's global, it is highly productive. It's just not performative," Morejon said. "The wealth doesn't hide here. It just doesn't feel the need to announce itself. And I really think what we're seeing now with AI founders, with the era of liquidity with SpaceX is a generation that's used to speed and being very public… But many are also reaching a stage where I think they value discretion, it's becoming an asset."
"Tech jobs have actually grown 20% since 2021, and the increase in wealth, in terms of our downtown population, has also grown at the same rate. Our downtown economy supports over $43 billion annually in economic impact, and that's a disproportionate and overarching share in high-value industries like tech, finance, professional services," she added "So I think you see that this isn't just a lifestyle narrative, it's actually an operating environment for new businesses. And we have the engineering and infrastructure emerging to prove that."
Naftali admits he feels "it's too early to tell" when or where exactly new millionaires and billionaires will make the coast-to-coast move, and says the migration won't solely be coming from California.
"Who is leading those IPOs? Those that are leading the IPOs are really based in New York because those are the Wall Street guys that are running the IPOs for the high-tech companies, and they are making huge bonuses," Naftali said.
"We speak about Silicon Valley, but SpaceX is not in Silicon Valley," the developer also noted. "But the point is, it's all about talent, right? They're all going after the talent… So [that's] what Florida is still lacking and it's gonna take time to attract the talent."
Yet as the talent begins to follow the capital, the ultimate ripple effects will likely extend far beyond luxury beachfront high-rises. The experts argue that a massive wave of public market wealth creates an entirely new class of consumer — and resident — that shifts the cultural fabric of local communities.
"What's interesting, though, is middle management at SpaceX and all these other companies, middle managers have wealth creation that can be $25, $50, $100 million. So what we would historically think of as a middle manager earning a decent living building wealth slowly over time, it's a game-changer," DaGrosa pointed out, noting that as these teams migrate, the housing market periphery will see a massive boom.
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"I think what we see is actually more opportunity for Floridians to get better jobs. I mean, when a state is doing well and making money… more people are moving into the state and spending money," Naftali said.
"If you're building a company at scale, you need three things: You need access, you need talent and you need a quality of life that sustains performance," Morejon stated of her ultimate elevator pitch to incoming West Coast founders. "And if you need a place to dock the yacht, we can handle that, too."
https://www.foxbusiness.com/real-estate/california-exodus-2-0-how-spacex-tech-ipos-could-trigger-next-massive-wealth-flight-floridaA UN Secretary-General who Defied the US– and Suffered a Backlash
UNITED NATIONS, June 22 (IPS) - When Egypt’s onetime Foreign Minister Boutros Boutros-Ghali was running for the post of U.N. Secretary-General in late 1991, he had to contend with the rival candidature of Bernard Chidzero, then foreign minister of Zimbabwe.
https://www.globalissues.org/news/2026/06/22/43357 {"url":"https://static.globalissues.org/ips/2026/06/UN_220626-100x100.jpg"}Beloved pizza chain turns America’s 250th birthday into summer-long celebrationHappy Joe's Pizza & Ice Cream is celebrating America's 250th birthday with patriotic pizzas, block parties and a "Freedom Flyaway Sweepstakes" through Aug. 15.
Happy Joe’s Pizza & Ice Cream is turning America’s 250th birthday into a summer-long celebration.
The Davenport, Iowa-based restaurant chain — which has three company-owned restaurants, 35 domestic franchised locations and nine international locations in Egypt — is rolling out patriotic menu items, family block parties and sweepstakes tied to the nation’s semiquincentennial.
Tom Sacco, Happy Joe’s CEO, president and "chief happiness officer," said the campaign fits the brand’s roots.
"Who's better in this country to throw a birthday party for just regular old American folks than Happy Joe's?" Sacco told FOX Business. "Because that's who we are."
From May 15 through Aug. 15, guests who buy a specialty pizza and a Mountain Dew at participating locations can enter the "Freedom Flyaway Sweepstakes" for a chance to win one of three $3,000 trips to Washington, D.C.
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The sweepstakes was initially solely tied to a Washington, D.C., trip, but Sacco said winners can also take the cash and use it however it best helps their families.
"If celebrating to them is giving… them freedom financially to not be burdened by some of the expensive things that have happened in the last four or five years … If that's what makes you happy, because mom doesn't have to stress about how to pay for daycare during the summer or something like that, then that's a huge win," Sacco said.
The promotion also includes weekly Mountain Dew prize packs with pickleball paddles, lawn chairs, blankets, Happy Joe’s apparel and gift cards.
Happy Joe’s is also hosting AMERICA250 Block Party events on June 29 from 4 to 8 p.m. with games, trivia, music, giveaways and free slices of its red, white and blue birthday cake pizza.
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Sacco said some locations will have activities such as bounce houses, face painting, balloon makers and patriotic trivia tied to both U.S. history and Happy Joe’s history.
"We're going to just do some fun stuff like that," Sacco said. "… We can play the game and make it patriotic, but make it tied to Happy Joe's kind of stuff."
The limited-time menu includes a BBQ Brisket Pizza with Texas-smoked brisket, pickles, onions and barbecue sauce, a BBQ Chicken Pizza and an AMERICA250 Birthday Cake topped with red, white and blue frosting and sprinkles.
Sacco said Happy Joe’s is leaning into what it has long been known for: birthdays, families and memorable dining experiences.
MCDONALD'S BRINGING BACK FRIED APPLE PIE TO CELEBRATE AMERICA'S 250TH BIRTHDAY
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"We don't compete on price. We don't compete on discounting. We compete on experience," Sacco said. "Pizza gets you in the door. When you leave, we’ve created a memory. And that's how we go about the business."
He added that the campaign gives the brand a chance to celebrate the country’s milestone birthday with families across its markets.
"The 250, for me, is like the biggest national celebration I can ever be a part in," Sacco said. "I have the opportunity, because of Happy Joe’s, to share it with hundreds of thousands of our guests and their families around the country."
https://www.foxbusiness.com/retail/beloved-pizza-chain-turns-americas-250th-birthday-summer-long-celebrationCostco adds frozen Greek yogurt cups from brand customers call 'top tier'Yasso Frozen Greek Yogurt Cups arrive at Costco in a 12-pack with Vanilla Caramel and Fudge Chip flavors, each with under 100 calories per serving.
Costco has added a new frozen treat to its shelves from a brand customers have praised as "top tier."
Yasso Frozen Greek Yogurt Cups have been offered at select warehouse locations, according to the brand.
The product was introduced late last month, the company announced, just in time as summer temperatures begin to spike.
The 12-pack includes mini cups split between two flavors: Vanilla Caramel and Fudge Chip.
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Marketed as a lighter alternative to traditional ice cream, each 3-ounce cup contains less than 100 calories and 4 grams of protein.
The Vanilla Caramel flavor has 80 calories per serving, while the Fudge Chip comes in at 90 calories.
The pack reportedly retails for $11.89, equivalent to roughly $1 per cup, according to Instagram page Costcobffs.
The new release has sparked significant attention across social media.
One Reddit user praised the decision, saying Yasso items are not overly sweet and lack the artificial taste often found in other low-calorie desserts.
"Yasso products have always been top tier," the user said.
Another Reddit user added, "These are absolutely amazing and the right portion for that sweet treat."
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Social media page CostcoHotFinds, which said it has partnered with the brand, noted the item is available for a limited time.
"Availability depends on the region and retailer," Yasso said. "We'd suggest checking with your local store manager about ordering it in."
Shoppers eager to try the mini cups may also find the product at BJ’s Wholesale Club locations, the brand added.
It is typical for Costco to roll out limited-time products as part of a testing period before wider or recurring availability.
The Yasso brand has, however, shown staying power, as Costco has previously carried its frozen Greek yogurt bars, including Cookies ‘n Cream and Mint Chocolate Chip flavors.
The 15-count packs feature similar nutrition profiles, with each serving typically ranging between 90 and 100 calories and containing about 5 grams of protein.
FOX Business reached out to Yasso for more information.
https://www.foxbusiness.com/lifestyle/costco-adds-frozen-greek-yogurt-cups-brand-customers-call-top-tierChevrolet unveils ‘most powerful Silverado ever’ with new V8 engines, high-tech cabinChevrolet on Tuesday unveiled the 2027 Silverado 1500 with new V8 engines, calling it the "most powerful" Silverado ever. The redesigned truck is expected to go on sale later this year.
Chevrolet is giving its Silverado pickup a major update with new V8 engines, a redesigned exterior and more technology inside the cabin.
The automaker on Tuesday introduced the next-generation 2027 Chevrolet Silverado 1500, calling it the "most powerful Silverado ever" and marking one of the pickup’s biggest updates in years.
The truck is expected to go on sale at the end of the year, with pricing to be announced later, according to the company.
"Silverado has earned truck customers’ trust over decades of hard work in the real world," Scott Bell, vice president of Global Chevrolet, said in a statement. "With the next-generation 2027 Silverado 1500, we’re taking that legacy forward by building the most capable, refined and advanced Silverado lineup we’ve ever offered."
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The 2027 Silverado will offer four powertrain options, including new 5.7-liter and 6.6-liter V8 engines. Chevrolet said the truck will have the most powerful naturally aspirated V8 engine in its class.
The lineup will also include an updated 2.7-liter TurboMax engine paired with a 10-speed transmission, along with the Duramax 3.0-liter Turbo-Diesel.
"From tough towing scenarios to the daily demands our customers put on their trucks, these next-generation V8s were engineered and proven to perform in the real world," Mark Dickens, executive chief engineer at Chevrolet, said in a statement.
The 2027 Silverado will come in seven trims, including Work Truck, Custom, Custom Trail Boss, Silverado, Trail Boss, ZR2 and High Country.
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Chevrolet said the new lineup is designed to give buyers more choice, from work-focused trucks to off-road models and more premium versions.
The ZR2 will be the most off-road-capable version, while the High Country will serve as the top luxury trim.
Inside, every 2027 Silverado will come with a new digital cockpit, including a standard 16.3-inch center display and a 12.2-inch driver information screen.
Chevrolet said the Silverado will offer Super Cruise driver-assistance technology with trailering capability, allowing hands-free driving while towing on compatible roads.
The truck also gets a new exterior design, including a stronger front end, new LED headlights and taillights and updated wheel openings.
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"The goal with the new Silverado was to create a truck that looks stronger, more modern with demanding presence at first glance, while staying true to the authentic truck character customers expect from Chevrolet," Chevrolet Global Executive Design Director Phil Zak said in a statement.
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Additional details, including availability and MSRP, will be released later this year.
Chevrolet last introduced an all-new Silverado in December 2017, when it unveiled the fourth-generation 2019 Silverado, according to the company’s website.
https://www.foxbusiness.com/retail/chevrolet-unveils-most-powerful-silverado-ever-new-v8-engines-high-tech-cabinKen Griffin fires back at Mamdani, says business leaders must 'fight for their city'Citadel founder Ken Griffin urges New York business leaders to speak up against Mayor Zohran Mamdani's tax proposals, warning the city risks losing talent.
Billionaire Citadel founder Ken Griffin is encouraging New York's business leaders to take on socialist Mayor Zohran Mamdani, warning that the city's future could be at risk if employers and investors stay quiet.
"They need to find their voice and fight for their city," Griffin said Thursday at a Manhattan event, according to Bloomberg.
"My advice is to speak up. What’s the worst that’s going to happen? It will be that New York empties of talent and that’s a catastrophe. If the mayor wants to say a few words about you, your record speaks for itself: You create jobs, you create value and you pay taxes."
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Griffin's remarks mark the latest chapter in an ongoing clash between Wall Street's billionaire class and Mamdani, whose proposals to raise taxes on wealthy New Yorkers and luxury property owners have drawn fierce criticism from business leaders concerned about the city's economic competitiveness.
The financial titan, whose net worth is estimated at $48.3 billion according to the Bloomberg Billionaires Index, argued that New York's corporate leaders should focus on the long-term future of the city rather than short-term political battles.
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"Everything should be viewed through the lens of, Citadel will be here far longer than he’ll be mayor," Griffin said.
The comments come as Griffin and Mamdani appear to be cautiously opening a dialogue after months of public sparring over taxes, wealth and the city's business climate.
The socialist mayor recently reached out to Griffin after previously criticizing the billionaire hedge fund manager over his Manhattan penthouse and personal wealth. Mamdani notably stood outside Griffin's luxury property to promote his proposal to raise taxes on second homes in New York City worth more than $5 million.
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The outreach comes as some business leaders warn New York risks alienating major employers and investors — a concern Griffin has raised before in another major American city.
The tensions have fueled concerns among some business leaders that New York could follow a path similar to Chicago, where Griffin spent years criticizing crime, taxes and public policy before moving Citadel's headquarters to Miami in 2022. The relocation marked the departure of one of the financial industry's most influential firms and underscored the economic impact that can follow when a major corporate player leaves a major city.
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Griffin has repeatedly pointed to Florida's business climate as a model and warned that policies targeting high earners and businesses could make New York less competitive.
Griffin said he plans to talk to Mamdani "at some point in the months ahead."
"Let’s see where he is on the state of policy at that time," he said. "Actions speak louder than words."
https://www.foxbusiness.com/politics/ken-griffin-fires-back-mamdani-says-business-leaders-must-fight-cityPopular teething toy sold on Amazon for years recalled over choking hazard for childrenGOPO TOYS Pull String Teething Toys sold on Amazon are recalled after at least three choking reports. Over 70,000 units pose a deadly hazard.
A teething toy that has been sold on Amazon for years is being recalled after at least three reports of choking, according to the U.S. Consumer Product Safety Commission (CPSC).
The GOPO TOYS Pull String Teething Toys "violate the mandatory standard for toys because the silicone strings are smaller and longer than permitted," the commission said in an alert. "The strings can reach the back of children’s throat and become lodged, posing a serious risk of respiratory distress and deadly choking hazard."
The recall was issued on Thursday and includes more than 70,000 units of the product.
Consumers should immediately stop children from using the toy and contact GOPO Toys for a full refund, the commission said, adding that consumers will be asked to destroy it by cutting all the silicon strings and writing "DESTROYED" in permanent marker on the toy.
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A photo should be sent to recalls@gopotoys.com and the teething tooth thrown out.
The toys were sold on Amazon between August 2023 and March 2026 and were distributed from San Bernardino, California, and made in China.
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At least three children had the toy reach the back of their throat, "resulting in respiratory distress or choking," the CPSC said.
Earlier this month, 40,000 reusable baby bottles sold at Walmart were recalled over a potential choking hazard.
And in January, the CPSC announced a recall of another teething toy that also had a choking risk after dozens of incidents.
Approximately 6,800 Yetonamr pull-string teething toys were recalled at the time due to violations of mandatory toy safety standards.
The Yetonamr toy is similar in design to the GOPO TOYS product.
https://www.foxbusiness.com/lifestyle/popular-teething-toy-sold-amazon-years-recalled-choking-hazard-childrenUbisoft co-founder Claude Guillemot killed in plane crash that claimed 2 livesClaude Guillemot, one of the five brothers who founded Ubisoft in 1986, reportedly died in a twin-engine plane crash in La Baule, France.
Claude Guillemot, the co-founder of French video game giant Ubisoft, died Friday in a plane crash in La Baule, the company confirmed to FOX Business.
Guillemot, 69, was one of two people aboard a twin-engine Cessna 421 plane, both of whom died in the wreck, according to a report from local newspaper Ouest-France.
The French Atlantic coast town had a planned air show over the weekend, according to the outlet.
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In a statement to FOX Business on Saturday, Ubisoft said it was "deeply saddened to learn of the death of Claude Guillemot, co-founder of the Group and President of Guillemot Corporation, in an accident."
According to Ubisoft’s website, Guillemot and his four other brothers founded Ubisoft in 1986.
Guillemot worked behind the scenes and played a pivotal role in advancing the original mail-order software business, Reuters reported.
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One of Guillemot’s brothers, Yves, serves as CEO of the gaming powerhouse.
Under Yves' ongoing leadership of more than 30 years, the brothers' early strategy of nurturing in-house talent and developing original brands has driven the company’s success amid tech disruptions and industry transformations, according to Ubisoft’s website.
"Our thoughts are with his family and loved ones during this difficult time," the company told FOX Business.
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Ubisoft said no further statements would be released at this time.
https://www.foxbusiness.com/technology/ubisoft-co-founder-claude-guillemot-killed-plane-crash-claimed-2-livesDem senators urge FCC to pause Paramount-Warner Bros Discovery merger over foreign investor concernsThe senators argued that FCC Chairman Brendan Carr needs to perform more due diligence on the foreign ownership of the Paramount-Warner Bros. entity.
Three Democratic senators have urged the Federal Communications Commission (FCC) to put the Paramount-Warner Bros. Discovery merger on pause over concerns about foreign investors controlling what would be one of the largest media companies in the United States.
In a joint letter to FCC Chairman Brendan Carr, senators Cory Booker, D- N.J.; Adam Schiff, D-Calif.; and Elizabeth Warren, D-Mass., demanded he "must foreclose any attempt by Paramount to close this transaction" before an adequate review of the involved foreign investors is completed.
The lawmakers said the FCC must conduct this review to evaluate possible "national security threats posed by foreign government investment" in the $110 billion entity. If approved, the merger would bring CNN and CBS News under one corporate owner, further consolidating the news media landscape.
Paramount, led by CEO David Ellison, acknowledged in an April financial disclosure cited by the senators that foreign ownership in the new corporation will rise to "approximately 49.5 percent." In that document, Paramount also said that all voting rights will be "controlled by the Ellison family through U.S. entities."
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The document revealed that Saudi Arabia's public investment fund and various entities based in the United Arab Emirates and Qatar would be equity holders.
Paramount told the FCC in April that this arrangement would not present "any national security, law enforcement, or foreign or trade policy concerns."
The senators want a more rigorous check of what this level of foreign ownership would mean, telling Carr in their letter that he should not take the Ellison family's statements "at face value."
They argued that the FCC should reject Paramount's petition for preemptive approval. Under Section 310 of the 1934 Communications Act, foreign individuals, companies and governments are generally prohibited from owning more than 25% of a U.S.-based firm that has an FCC-issued broadcast license.
Booker, Schiff and Warren gave Carr a July 1 deadline to notify Paramount that the deal cannot close until the foreign investment review is completed.
The FCC's pending approval is the largest regulatory hurdle in the way of the merger. The Department of Justice signaled last week it would not challenge Paramount's bid to acquire Warner Bros.
The DOJ's antitrust division concluded after an eight-month review that "the transaction is not likely to result in harm to competition or American consumers" with regard to on-demand streaming, linear television and studio development and the production and distribution of films.
Warren criticized this decision by the DOJ and urged state attorneys general to continue fighting the transaction. California Attorney General Rob Bonta was already leading a coalition of states in preparing a lawsuit to block Paramount from adding Warner Bros. to its growing portfolio.
More than 5,000 filmmakers and actors working in Hollywood signed an open letter in April furiously demanding that the merger be stopped. They argued that it would stifle competition and reduce job opportunities.
"Our industry is already under severe strain, in large part due to prior waves of consolidation. We have witnessed a steep decline in the number of films produced and released," according to the petition. "We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good."
https://www.foxbusiness.com/politics/dem-senators-urge-fcc-pause-paramount-warner-bros-discovery-merger-over-foreign-investor-concernsSNAP restrictions could change what shoppers buy — and food giants are watchingSNAP food restrictions are spreading to more states, pressuring major food and beverage as consumers shift spending away from soda, candy and processed foods.{}
DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business networkA Justice Department probe is reviewing transactions tied to a business network linked to Iran's supreme leader and its reported connections to Wall Street firms
The Department of Justice is investigating transactions tied to a business network linked to Iranian Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report.
Bloomberg reported federal investigators are examining how companies connected to Khamenei built a global investment portfolio with transactions involving Wall Street firms including JPMorgan Chase and Citigroup.
The reported probe is part of a broader Justice Department investigation into alleged money laundering and corruption involving entities tied to Khamenei, according to Bloomberg, which cited people familiar with the matter.
JPMorgan Chase, Citigroup and the Department of Justice did not immediately respond to FOX Business' requests for comment.
Investigators are reviewing the role U.S. financial institutions may have played in processing or facilitating transactions linked to the network, though Bloomberg reported the investigation does not necessarily mean charges will be filed.
The reported inquiry comes as the Trump administration has intensified pressure on Iran and sought to crack down on sanctions evasion and illicit financial activity tied to Tehran and its leadership.
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The investigation could place renewed scrutiny on how major financial institutions identify and monitor potentially sanctioned entities operating through complex international ownership structures and investment vehicles, a longstanding challenge for global banks and regulators.
Bloomberg reported that investigators' primary focus is Khamenei and the network of businesses tied to him rather than the banks themselves.
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Khamenei became Iran's supreme leader after his father, Ayatollah Ali Khamenei, was killed in a joint U.S.-Israeli airstrike. As Iran's highest-ranking authority, he has final say over major state decisions, including foreign policy and the country's nuclear program.
The reported investigation comes amid heightened tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian regime.
https://www.foxbusiness.com/politics/doj-probes-jpmorgan-citigroup-transactions-tied-iran-supreme-leaders-business-networkLauren Sánchez plays major role in deploying Bezos' full $10 billion climate fund by end of decade: reportLauren Sánchez Bezos has put her philanthropic goals front and center, aiming to smartly allocate her husband's $10 billion climate fund by 2030.
Over the last year, Lauren Sánchez Bezos has become a key player in determining which organizations and causes get donations from Jeff Bezos' $10 billion climate change fund.
According to Fortune, Sánchez Bezos has served as the vice chair of the Bezos Earth Fund since its early days in 2020, when she was the girlfriend of the Amazon multi-billionaire.
The fund, the largest contribution any individual has ever made to the environment, according to Northeastern University, is obligated to deploy all $10 billion by the end of the decade. So far, it has cut checks toward 335 grants, totaling $2.4 billion, according to the fund's website.
Since Sánchez Bezos married her now-husband last year in a star-studded affair in Venice, she has become a more public-facing leader of the fund, often announcing new donations.
LAUREN SÁNCHEZ BEZOS DEFENDS RISQUÉ TRUMP INAUGURATION LOOK AFTER BACKLASH
In September 2025, she touted that the fund had disbursed $37.5 million in grants to protect 835,000 square miles of water surrounding a dozen nations in the Pacific Ocean. The initial amount was part of the fund's $100 million commitment to what she called "one of the boldest ocean conservation efforts ever attempted."
"The Pacific isn’t just a beautiful backdrop, it’s a lifeline," Sánchez Bezos said in a statement at the time. "Pacific Island nations and territories are setting the pace. We’re here to match that ambition and help turn it into protection at scale."
In October, she announced $30 million in awards to 15 teams who won the fund's "AI for Climate and Nature Grand Challenge." Each team received $2 million to jump-start their use of artificial intelligence to solve problems such as biodiversity loss and food insecurity.
"AI can be a powerful ally to help make the world a better place," said Sánchez Bezos. "These innovators, using AI, are showing us new possibilities by reimagining how we grow food, protect wildlife, and power our planet to make a true impact."
Other than environmental causes, Sánchez Bezos said in December that she and her husband committed $102.5 million to organizations fighting homelessness across the United States. That money comes from the Bezos Day One Families Fund, which has so far donated more than $850 million to outfits in all 50 states, Washington D.C., Puerto Rico and Guam.
JEFF BEZOS' GLOW-UP AND LAUREN SÁNCHEZ'S TRANSFORMATION OVER THE YEARS: PHOTOS
The Day One Families Fund is a portion of the total $2 billion Bezos and his wife plan to donate to nonprofits that help homeless families obtain stable housing. There is also an initiative to build and operate tuition-free pre-schools in areas of the country that lack education options.
The couple also gave a $5 million grant, along with the Bezos Courage & Civility Award, to David Flink, the founder of the Neurodiversity Alliance.
The New York-based non-profit provides mentors to students with learning disabilities. Sánchez Bezos has said she unknowingly grew up with dyslexia and struggled in school for years, later being diagnosed with the condition when she was in college.
Despite the Bezoses' charity, they have not donated nearly as much of their net worth as others who have similar levels of wealth. Most notably, the couple lags significantly behind MacKenzie Scott, the ex-wife of Bezos.
LAUREN SÁNCHEZ BEZOS EXPOSES TV CAREER REALITY AFTER CRITICS SAID SHE DIDN'T ‘DESERVE TO BE THERE’
According to Forbes, Scott has donated $26.4 billion over a period of seven years, representing a staggering 46% of her estimated $35.4 billion net worth. In 2025 alone, she was the most charitable person on Earth with $7.2 billion in donations.
Over his entire life, Bezos has given away $4.6 billion, which is less than 2% of his $266 billion net worth, per the Bloomberg Billionaires Index.
Bezos has also not signed the Giving Pledge, an initiative launched in 2010 by Warren Buffett, Bill Gates and Melinda French Gates that urges billionaires to give the majority of their wealth away in their lifetimes.
Scott has signed the pledge, but Bezos has not. He told CNN in 2022 that he intends to donate most of his money but said it was difficult to do that efficiently.
"It's not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I'm finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar," he said in the CNN interview.
https://www.foxbusiness.com/lifestyle/lauren-sanchez-plays-major-role-deploying-bezos-full-10-billion-climate-fund-end-decade-reportAmericans’ 401(k) balances hit record levels in 2025Americans increased their median 401k account balances by 27 percent through 2025 as automatic employer enrollment expanded plan participation nationwide.
Americans' contributions to their 401(k) savings accounts hit record highs in 2025, according to a new report from Vanguard.
Among employees with active 401(k) accounts in both December 2024 and December 2025, median account balances increased by 27%, according to the report, titled How America Saves 2026.
Of those same participants, 94% saw an increase in their account balances, reflecting both a rise in contributions and strong returns from markets, according to the report.
COULD THE VANGUARD S&P 500 ETF BE YOUR TICKET TO BECOMING A STOCK MARKET MILLIONAIRE?
The average account balance for a Vanguard 401(k) was $167,970 in 2025, a near $20,000 increase from the 2024 average of $148,153. The median account balance, meanwhile, also increased year over year, rising from $38,176 in 2024 to $44,115 in 2025.
One factor the report cites as a potential impact on the higher contributions is a shift in automatic employee enrollment.
BEWARE THE TICKING TIME BOMB HIDING IN YOUR 401(K)
Some employers have shifted to automatically enrolling employees in 401k plans, with the share of Vanguard-defined contribution plans using automatic enrollment sitting at 61% in 2025 compared with just 10% in 2006.
By reframing an employee's decision into opting out, rather than voluntarily opting in, employers encourage significantly stronger participation in retirement plans, according to the report.
"With an autopilot design, individuals are automatically enrolled into the plan, their deferral rates are automatically increased each year, and their contributions are automatically invested in a balanced investment strategy. In such a plan, the decision to save is framed negatively: ‘Quit the plan if you’d like.' And ’doing nothing; leads to participation in the plan and investment of assets in a long-term retirement portfolio," the report states.
Employees deferred a similar percentage of their total incomes into plans in 2025 when compared with 2024, though deferral rates have broadly trended up in the last decade.
LABOR DEPARTMENT'S PROPOSAL IS A 'HUGE STEP' FOR YOUR 401(K), BLACKROCK'S NEFOUSE SAYS
The average deferral was 7.6% of an employee's income in 2025, the same as it was in 2024, per the report. The median rate was 6.6% in 2025 compared with 6.7% in 2024.
A quarter of all participants had a deferral rate of over 10% of their incomes. That compared with just 20% of participants deferring more than a tenth of their income in 2016, the report noted.
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The report wasn't all positive. Hardship withdrawals increased for the fourth straight year, rising to 6% in 2025 from 5% the previous year. While the report cited potential pressures from inflation and other economic challenges, it also noted that a recent streamlining in the process to apply for hardship withdrawals has "made retirement assets more accessible in times of need."
https://www.foxbusiness.com/personal-finance/americans-401k-balances-hit-record-levels-2025Hong Kong: No Safety in Exile
LONDON, June 19 (IPS) - When performance artist Sammu Chen tried to tie a red thread to a streetpost, plainclothes police stopped him before he could finish. Chen has twice been detained for his symbolic acts of commemoration of the 4 June 1989 Tiananmen Square Massacre, when Chinese authorities killed hundreds, perhaps thousands, to crush democracy protests.
Read the full story, “Hong Kong: No Safety in Exile”, on globalissues.org →
https://www.globalissues.org/news/2026/06/19/43344 {"url":"https://static.globalissues.org/ips/2026/06/firmin_190626-100x100.jpg"}‘We Came for Action, Not Promises’: Developing Nations Voice Frustration as Bonn Talks Conclude
BONN, June 19 (IPS) - The United Nations June Climate Meetings (SB64) ended in Bonn with sharp disagreements between developed and developing countries over climate finance, adaptation support and emissions reductions, leaving negotiators with significant unresolved issues ahead of the COP31 climate summit in Antalya, Türkiye.
https://www.globalissues.org/news/2026/06/19/43343 {"url":"https://static.globalissues.org/ips/2026/06/ENB_SB64_18Jun26_KiaraWorth-19-100x100.jpg"}Mortgage rates fall to lowest level in over a month as Iran deal framework takes shapeThe average rate on a 30-year fixed mortgage fell this week to 6.47%, according to the latest Freddie Mac data released Thursday. That is down from last week's reading of 6.52%.
Mortgage rates fell this week to the lowest level in more than a month, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.47% from last week's reading of 6.52%.
The average rate on a 30-year loan was 6.81% a year ago.
INCOME NEEDED TO AFFORD A MEDIAN-PRICED HOME HAS NEARLY DOUBLED SINCE 2020, REPORT FINDS
"Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve," said Sam Khater, Freddie Mac's chief economist.
The average rate on a 15-year fixed mortgage fell to 5.81% from last week's reading of 5.84%.
Rates have been elevated of late as concerns over the Iran war weighed on markets. On June 17, President Donald Trump signed a memorandum of understanding while attending meetings in France, while Iran signed remotely. The temporary framework calls for an immediate cessation of hostilities, the reopening of the Strait of Hormuz, limits on Iran's enriched uranium stockpile and a 60-day window to negotiate a permanent agreement addressing Tehran's nuclear program.
MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 – RIGHT AS MILLENNIALS RETIRE
The deal also includes provisions to ease economic pressure on Iran, including access to some frozen assets and the lifting of certain restrictions, while drawing criticism from some conservatives who argue the agreement offers too many concessions without requiring Iran to immediately dismantle its nuclear infrastructure.
"The previous weeks have been filled with constant back-and-forths, showing progress toward a resolution, only to be followed by heightened military action," said Realtor.com senior economist Anthony Smith. "However, the latest rounds have proven more promising than previous periods of reprieve, as a tentative deal has now been drafted and now signed by President Trump."
MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED
Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.45% as of Friday afternoon.
The U.S. central bank on Wednesday announced that it will hold interest rates steady due to concerns about elevated inflation amid the war in Iran, as new Federal Reserve Chairman Kevin Warsh's tenure leading the central bank begins in earnest.
Fed policymakers voted 12-0 to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the central bank's decision to hold rates steady in January, March and April following three successive 25-basis-point rate cuts in September, October and December to close out last year.
The Federal Open Market Committee (FOMC), the central bank's panel responsible for monetary policy moves, noted in its statement that inflation remains elevated above the central bank's 2% goal, which it said was "in part reflecting supply shocks that have driven price increases in certain sectors, including energy."
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"Warsh used his first decision as chair to signal a broader regime change: the easing bias is gone, forward guidance has been shelved, and the committee's statement was rewritten around a single, unhedged commitment to delivering price stability," Smith said. "Markets responded with a jump in the 10-year Treasury and rising odds of a rate hike before year's end. The logic of Warsh's approach, earning credibility by following through rather than telegraphing, is sound and ultimately the path to lower long-term rates. But a market without clear guidance may demand a premium in the near term, which could keep mortgage rates from falling as quickly as the Iran ceasefire alone might suggest."
FOX Business' Bradford Betz and Eric Revell contributed to this report
https://www.foxbusiness.com/economy/mortgage-rates-fall-lowest-level-over-month-iran-deal-framework-takes-shapeM&M's set August launch for dye-free candies, with 2 colors absentMars is offering artificial dyes-free M&M's in August following pressure from HHS Secretary RFK Jr.'s "Make America Healthy Again" initiative.
M&M's makers Mars will debut artificial dye-free candies in August in a Make America Healthy Again (MAHA)-compliant move after facing pressure from Health and Human Services (HHS) Secretary Robert F. Kennedy Jr.
But while the classic candy-maker was able to use natural sources like beets or turmeric to replicate colors like red and yellow, shades of blue have proven considerably more difficult and expensive to recreate naturally.
Mars has been replicating blue and brown's artificial coloring using spirulina extract, a concentrated blue-green algae powder, but the substance is prohibitively expensive.
Turmeric, for example, is available in bulk from most wholesalers for prices in the $9-$11 per lb. range. Spirulina, by contrast, can be significantly more expensive. The raw supplement can cost up to $20 per lb. at similar wholesalers, while the concentrated form most often used for food dyes is often priced at over $100 per lb.
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Furthermore, spirulina's viscous nature has caused clogging in M&M's factory spray nozzles and created film build-ups in manufacturing equipment, creating a potential safety and health hazard, The Wall Street Journal reported.
The high costs associated with MAHA-ifying its products have driven Mars into a colorful dilemma, according to the Journal. Wanting to debut its altered product ahead of the company's 85-year anniversary in August, Mars has spent millions in an effort to find alternatives.
Given the high costs of reproducing blue, Mars considered just rolling out a three-color mix of red, orange and yellow, but executives felt "the sunset vibes were too strong," the Journal reported.
Anton Vincent, the leader of the company's North American snacks division, told the Journal the replacement effort "was a daunting situation," adding, "you’re messing with an 85-year-old icon."
WALMART ELIMINATING SYNTHETIC DYES FROM ITS PRIVATE-LABEL FOOD BRANDS
Mars had originally announced a plan to offer artificial dye-free products in 2016, but reversed the decision after announcing customers didn't seem to care.
But, thanks to a Kennedy-led push to pressure companies to ditch artificial materials, Mars again announced in 2025 they would be pivoting to natural dye options.
Kennedy Jr. has frequently criticized the use of artificial dyes in U.S. food products, calling them a key driver in numerous American health epidemics.
"When we look at these nine specific food dyes, the science shows a clear, undeniable link to behavioral disruptions in our kids and long-term cancer risks. We are systematically clearing them out," he said in a 2025 press conference with West Virginia's Republican Gov. Patrick Morrisey.
West Virginia became the first to sign into law a total ban on statewide sales of major artificial dyes in 2025.
Kennedy Jr.'s HHS added Mars to a list of 27 corporations that have pledged to remove artificial food dyes from certain products in his office's effort to eliminate petroleum-based food dyes from the U.S. food supply.
Federally, his office has formally banned four petroleum-based artificial food dyes, revoking Food and Drug Administration (FDA) authorization for brominated vegetable oil (BVO), Red Dye no. 3, Citrus Red No. 2 and Orange B.
Kennedy Jr. has also pushed hard to get companies to phase out six other specific dyes — Red 40, Yellow 5, Yellow 6, Blue 1, Blue 2, and Green 3.
His office has cited animal studies that linked consumption of specific artifical dyes to cancer risks and long-term behavioral dysfunctions.
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The FDA cited the Delaney Clause, a provision requiring the institution to prohibit a chemical if it's found to cause cancer in humans or animals, after banning Red Dye No. 3 in 2025. Numerous long-term animal studies found the chemical linked to cancer development in rats.
FOX Business contacted Mars and HHS for further comment.
https://www.foxbusiness.com/politics/mms-set-august-launch-dye-free-candies-2-colors-absentHow AgricTech Cuts Labour for Zimbabwe’s Female Farmers
BULAWAYO, Zimbabwe , June 19 (IPS) - Long burdened by the labour-intensive nature of agriculture, Zimbabwe’s female farmers are finding relief in new agritechnologies that significantly reduce the time they spend in the field.
Read the full story, “How AgricTech Cuts Labour for Zimbabwe’s Female Farmers”, on globalissues.org →
https://www.globalissues.org/news/2026/06/19/43342 {"url":"https://static.globalissues.org/ips/2026/06/Zimbabwe-women-using-thresher-100x100.jpg"}RightsCon’s Cancellation Signals a Growing Threat to Human Rights and Digital Freedoms
NEW YORK, June 19 (IPS) - RightsCon, the world’s leading summit on human rights in the digital age, has served for over a decade as a vital global gathering, bringing together civil society, academics, technologists, policymakers, and the private sector in cross-border collaboration. The abrupt cancellation of RightsCon 2026, following intervention by Zambia’s government just days before the convening was due to commence in Lusaka, should concern us all.
https://www.globalissues.org/news/2026/06/19/43341 {"url":"https://static.globalissues.org/ips/2026/06/con_25_190626-100x100.jpg"}Income needed to afford a median-priced home has nearly doubled since 2020, report findsHarvard housing report finds U.S. home sales near lowest level in three decades as high costs and economic uncertainty suppress demand across the market.
A new report on the U.S. housing sector finds that activity remains subdued through the first part of the year as high costs suppress demand.
The Joint Center for Housing Studies of Harvard University released its annual "State of the Nation's Housing" report on Wednesday, which found that existing home sales remain near the lowest level in three decades that was first reached in 2023.
Sales of new homes remained relatively unchanged, while rental retention rates rose and new occupancies declined. New construction starts dipped 1% over the last year, driven by a 7% decline in single-family starts.
"Although supply shortages are still a major concern, depressed demand became a headline in housing over the past year," the report said, noting slower growth in the number of homeowner households as well as the number of renters compared with a year ago.
MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 – RIGHT AS MILLENNIALS RETIRE
The rate of growth of homeowner households declined by half and caused homeownership rates to decline for the second straight year. Additionally, the year-over-year increase in the number of renters in the first quarter of 2026 was less than half of what it was a year earlier.
Economic uncertainty has weighed on housing demand, with employment growth slowing from a gain of 1.5 million in 2024 to just 116,000 in 2025.
Consumer confidence dropped by more than 20 percentage points in 2025 and fell further in the first part of 2026 due to the Iran war, reaching an all-time low in April.
MORTGAGE RATES TICK HIGHER, BUT BUYERS SHOW SIGNS OF CONFIDENCE
"Without a job, graduates are less likely to form a new household or move to a new region," the report said. "Without confidence in employment, families are less likely to move or make a big purchase like a house."
High costs and the lack of affordable housing options are also contributing to the weaker demand, as households are struggling with high home prices and interest rates.
MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED
The report said that the median prices for new and existing homes are both over $400,000 and that existing home prices have risen 54% since 2020 and are about 5-times the median income – a level well above the ratio of 3-times that prevailed in the 1990s.
Mortgage rates are over 6%, which makes the payment on a median-priced home $3,100 in the fourth quarter of 2025, up from $1,700 in early 2020. That has pushed the income needed to afford that payment to more than $120,000 – a significant increase from $66,000 in 2020.
https://www.foxbusiness.com/economy/income-needed-afford-median-priced-home-has-nearly-doubled-since-2020-report-findsOne in three adults under 35 lives with parents as housing costs soar, data showsOne in three adults under 35 lived with a parent in 2025 as housing costs surge, with median home prices up 34.4% since 2019, according to new data.
The empty nest is filling back up.
Millions of young adults are delaying life on their own as high housing costs keep them living with mom and dad. In 2025, 25.2 million adults under 35 lived with a parent, according to new data from Realtor.com. That amounts to roughly one in three people in that age group.
The numbers point to a housing market that remains difficult to break into, even for young adults with jobs and college degrees, the outlet reported.
"The adults living with their parents today are largely employed, and many hold college degrees," Hannah Jones, senior economist at Realtor.com, said in a statement. "What's holding them back isn't a lack of qualifications, but rather, at least in part, a lack of housing they can actually afford. This is a supply story, not an employment story."
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That supply problem has been years in the making. The U.S. is short of roughly 4 million homes, with entry-level properties especially scarce. The gap has widened since construction slowed following the 2008 financial crisis, Realtor.com reported.
About 70% of 25- to 34-year-olds living with their parents have jobs. In 2000, about one in nine employed adults in their late 20s lived at home. By 2025, that share had climbed to nearly one in seven.
For many young Americans, moving out has become increasingly expensive.
The national median home listing price is $430,000, up 34.4% from 2019, while the median asking rent has climbed to $1,673, up 17.9% over the same period, according to Realtor.com.
MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 — RIGHT AS MILLENNIALS RETIRE
The delayed move into independent living could eventually translate into a wave of future housing demand.
As affordability improves or more homes are built, millions of young adults who postponed renting or buying could enter the market, Realtor.com reported.
"Twenty-five million adults living with their parents represents a generation of latent demand the market hasn't absorbed," Jones said. "Every adult still in a childhood bedroom is a household not formed, a lease unsigned, a starter home unpurchased. The typical first-time buyer is now 40 — that's not a coincidence, it's the math of a market that hasn't built enough."
The delay can also have long-term financial consequences.
Each year spent living at home can delay a young adult’s ability to build housing equity, Realtor.com noted.
MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCORED
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The outlook is not getting easier. According to new projections from National Association of Realtors (NAR) chief economist Lawrence Yun, the national median home price is on track to hit $1 million by 2050 — just as millennials reach the traditional retirement age.
"Essentially, in about 25 years the national median home price will be a million dollars," Yun said at a conference in Washington, D.C., on Tuesday. "It may be hard to envision that, but back in 1990, the national median price was $90,000."
FOX Business' Kristen Altus contributed to this report.
https://www.foxbusiness.com/lifestyle/one-three-adults-under-35-lives-parents-housing-costs-soar-data-showsBob Iger reflects on 10 years of Shanghai Disneyland as it defies the Chinese pullbackShanghai Disneyland hit 100 million cumulative visitors in 2025, according to the company. It's a relatively new but important foothold in Disney's history.{}
Meta lobbies Congress for immunity from lawsuits alleging online harm to childrenMeta reportedly lobbied U.S. lawmakers for legal immunity from child harm lawsuits as part of the Kids Online Safety Act under Senate consideration.
Meta has lobbied U.S. lawmakers for legal immunity from lawsuits alleging child harm from its social media platforms such as Facebook and Instagram, according to a report.
This comes as Meta faces a wave of youth-safety litigation, including thousands of similar claims consolidated in California state courts and separate lawsuits brought by states and school districts. Meta and Google, which owns YouTube, were hit with a combined $6 million in damages after a Los Angeles jury found them negligent in a bellwether case alleging Instagram and YouTube were designed in ways that harmed a young user. Both companies have said they plan to appeal.
If language like Meta’s proposal is adopted by lawmakers and signed into law as part of the Kids Online Safety Act (KOSA) under consideration in the Senate, the provision could undermine pending and future complaints against Meta and other social media platforms regarding child safety.
Lawmakers have not said they would be open to adopting the language, but the lobbying effort shows the kind of legal protections Meta is seeking amid government attempts to regulate online platforms.
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The proposed language would make online companies "immune from suit or liability under state law with respect to all claims for loss caused by, arising out of, relating to, or resulting from the safety or privacy of individuals under the age of eighteen online or otherwise related to the provisions" of KOSA, according to Reuters.
The proposal appears alongside language that seeks to have the federal measure overrule state laws on children's online safety and privacy.
Meta spokesperson Stephanie Otway told Reuters that the provision "does not extinguish existing lawsuits, nor does it represent blanket immunity."
"Instead, it establishes uniform national standards for online youth safety, ensuring these critical issues are governed by comprehensive federal legislation, not plaintiffs' lawyers or patchwork state legislation," she said.
But Julia Duncan of the American Association for Justice, a group that represents trial lawyers, said that if the provision were to be adopted, it would kill any lawsuits pending when the law took effect.
"The language is pretty clear-cut immunity against every parent, every school district, that is seeking to hold any AI or social media company accountable for harm" to children, Duncan said. "There is no other way to read this language."
Meta has proposed the language in exchange for dropping its efforts to oppose KOSA, a source told Reuters.
KOSA, sponsored by Sens. Marsha Blackburn, R-Tenn., and Richard Blumenthal, D-Conn., would require social media companies to take steps to prevent certain harms to minors, including compulsive use of their platforms.
The measure is now the subject of negotiations between Blackburn and the White House to package child online safety bills with a provision that would preempt some state laws regarding AI.
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"We have not seen that proposed language and would never consider it," a spokesperson for the GOP senator told Reuters.
Under the bill, tech companies would need to use care in adding specific features such as infinite scrolling, activity notifications and appearance-changing photograph filters.
A woman won at trial earlier this year against Meta and Google, which owns YouTube, after her lawyers successfully argued the companies were aware these features were addictive and harmful to young people. The tech companies plan to appeal the ruling.
KOSA passed in the Senate in 2024 before failing in the House. The measure was reintroduced this year with support from both Senate Majority Leader John Thune, R-S.D., and Senate Minority Leader Chuck Schumer, D-N.Y.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/meta-lobbies-congress-immunity-from-lawsuits-alleging-online-harm-childrenApple to work with Intel on US chip design and production, Trump saysPresident Donald Trump announced an Apple-Intel chip partnership as his administration pushes to bring semiconductor manufacturing back to the U.S. and reduce China reliance.
President Donald Trump said Thursday that Apple has agreed to work with Intel on designing and producing chips in the U.S.
"When I won my Second Term, it was clear America needed its Semiconductor Industry to come back to the U.S.A. We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America," Trump wrote on Truth Social.
The partnership could help Apple diversify its manufacturing base as it looks for additional chip capacity. The tech giant relies heavily on the Taiwan Semiconductor Manufacturing Company, which has advanced production lines in high demand from AI chipmakers such as Nvidia and Advanced Micro Devices.
APPLE CEO SAYS PRICE HIKES ARE 'UNAVOIDABLE' AS RISING CHIP COSTS SQUEEZE TECH GIANT: REPORT
Intel shares rose in premarket trading following the announcement from the president.
"The Technology the World relies on was invented in America. We all remember 'Intel Inside.' Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories," Trump said.
Intel reportedly reached a preliminary agreement to make some chips for Apple after more than a year of talks. Apple and Intel have not publicly detailed which chips or products would be involved.
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An Apple contract would give Intel steady demand from a top consumer electronics company after its reputation and manufacturing business fell behind TSMC in recent years.
Earlier this week, Intel announced that a new generation of its manufacturing technology, 18A-P, had entered initial production, as the chipmaker works to meet demand for advanced processors.
Last year, the Trump administration took a roughly 10% stake in Intel and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.
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The Trump administration took a roughly 10% stake in Intel last year and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.
Trump previously said he "should have asked for more" of a stake in Intel after the value of the federal government's Intel position rose sharply.
"When was the last time a President made America money??" Trump wrote on Thursday.
The administration has been boosting efforts to secure U.S. supply chains for critical minerals and semiconductors, including by taking equity stakes in companies as part of an effort to cut reliance on China.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/apple-work-intel-us-chip-design-production-trump-saysNBA to begin naming winning bids for Europe teams in the coming months, deputy commissioner saysThe NBA plans to begin naming winning bidders for 12 permanent European teams in the next 60 to 90 days, Deputy Commissioner Mark Tatum told CNBC.{}
Costco gets exclusive Chobani coffee creamer inspired by viral Dubai chocolate trendChobani is launching a Costco-exclusive Pistachio Chocolate Coffee Creamer inspired by the viral Dubai chocolate trend sweeping food and beverage aisles.
Chobani is bringing a Dubai chocolate-inspired coffee creamer to Costco stores nationwide, becoming the latest food and beverage company to capitalize on consumer demand for the viral flavor combination.
The yogurt maker's new Pistachio Chocolate Coffee Creamer joins a growing list of Dubai chocolate-inspired products that have emerged as the trend expands beyond candy into coffee, shakes and other beverages. Companies including Starbucks, Shake Shack and Pepsi have all introduced products tied to the pistachio-and-chocolate flavor profile that gained popularity on social media.
Dubai chocolate typically refers to chocolate bars filled with pistachio cream and crispy kataifi pastry. The confection gained widespread attention on social media before inspiring a growing number of spin-off products across the food and beverage industry.
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The new creamer is part of Chobani's limited-run Flavor Drop line and will be sold exclusively at Costco. The company said the product features flavors of roasted pistachio and milk chocolate and is made with farm-fresh milk and real cream.
Retail exclusives and limited-time offerings have become increasingly common tools for consumer brands looking to generate buzz and drive sales. The strategy can also help companies test consumer demand for new products before considering a wider rollout.
The launch comes as food and beverage companies increasingly look to limited-edition products and viral food trends to drive consumer engagement and retail sales. Industry brands have moved quickly to introduce Dubai chocolate-inspired offerings as consumers continue to seek out products tied to the trend.
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Chobani has expanded its creamer lineup in recent months with several seasonal and limited-edition flavors, including S'mores, Cookies and Cream and Cookie Butter. Earlier this year, the company also introduced an American Blueberry Flavor Drop tied to the upcoming America250 celebration.
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The Pistachio Chocolate creamer is arriving at Costco warehouses nationwide. Chobani said the suggested retail price is $7.49 for a 52-ounce bottle, though pricing may vary by location.
The product's release underscores the staying power of the Dubai chocolate trend, which has evolved from a social media sensation into a broader consumer packaged goods opportunity as brands compete for shoppers' attention in an increasingly crowded marketplace.
https://www.foxbusiness.com/lifestyle/costco-gets-exclusive-chobani-coffee-creamer-inspired-viral-dubai-chocolate-trendFederal appeals court rules Ohio can require parental consent for children under 16 on social mediaA federal appeals court ruled Ohio can enforce a law requiring parental consent before children under 16 use social media, overturning a lower-court block.
A federal appeals court ruled Thursday that Ohio can enforce a law requiring parental consent before children under 16 can use social media, handing a victory to state officials who argue the platforms pose risks to young users.
In a 2-1 decision, the 6th U.S. Circuit Court of Appeals overturned a lower-court ruling that had blocked enforcement of Ohio's Social Media Parental Notification Act. The dissenting judge argued that the law likely imposes unconstitutional restrictions on minors' access to protected speech, reflecting concerns that had previously led a lower court to block the measure.
The law, which was passed by the Ohio legislature in 2023 and took effect in 2024, requires certain websites and social media platforms to verify users' ages and obtain parental consent before users under 16 can create or use accounts.
The measure includes an 11-factor test for determining whether a website is likely to be accessed by children, along with several exceptions.
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Ohio officials have said the law is intended to protect children from online harms, including exposure to harmful content, excessive social media use and data-collection practices
The law was put on hold following a legal challenge by NetChoice, a technology industry trade group whose members include YouTube, TikTok and Meta, the parent company of Facebook and Instagram.
NetChoice argued that the law was unconstitutionally vague and improperly restricted minors' access to speech protected by the First Amendment. The group has also argued that age-verification and parental-consent requirements can force users to disclose personal information before accessing protected online speech.
The appeals court disagreed.
"At bottom, the Act imposes a parental consent requirement," U.S. Circuit Judge Eric Clay wrote in the court's lead opinion.
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"That requirement constitutes a marginal burden that precisely targets the multi-faceted problem that Ohio has identified: Children’s unsupervised assent to terms and conditions for use of platforms that take advantage of and harm them," he added.
In a statement provided to FOX Business, Ohio Attorney General Andy Wilson called the ruling a "win for Ohio families."
"The court agreed that parents — not social media companies — should get a say in what kids see online," Wilson said. "We have an obligation to keep our children safe, and today, the most dangerous place for our kids is the internet."
"This decision gives parents the tools to be involved and provide oversight," he added.
NetChoice has mounted legal challenges to similar laws across the country aimed at restricting children's access to social media.
NetChoice criticized the ruling in a statement to FOX Business, arguing that it threatens the privacy and constitutional rights of Ohio residents. The group said it remains "fully confident" that the law will ultimately be struck down.
"An unconstitutional law protects no one, and we remain focused on ensuring the First Amendment rights of Ohioans are protected," Paul Taske, director of the NetChoice Litigation Center, said in a statement.
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"Parents must remain in the drivers’ seat for parenting decisions," Taske continued. "Ohio cannot step in and make those decisions in the first instance. But Ohio’s digital-ID law discards that constitutionally required dynamic. By requiring parents to override the government’s determination, Ohio has violated bedrock First Amendment principles."
Taske said NetChoice is reviewing its legal options moving forward.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/federal-appeals-court-rules-ohio-can-require-parental-consent-children-under-16-social-mediaCalifornia’s counting on an IPO tax windfall. Several factors are complicating the equationThe IPOs of SpaceX, OpenAI and Anthropic could create a tax windfall for the state of California. But experts say the revenue impact may be blunted.{}
Costco shoppers stock up on cult-favorite cookies as demand surges nationwideCostco shoppers are snapping up Tim Tams after the iconic Australian chocolate biscuits landed in warehouses nationwide, fueled by social media buzz.
Costco shoppers are snapping up a popular Australian snack that recently landed on shelves across the United States, highlighting growing demand for international food brands among American consumers.
Tim Tams, the chocolate-covered biscuits made by Australian food giant Arnott's, are now available in bulk packages at Costco warehouses nationwide. The product's arrival has generated significant attention online, with shoppers sharing photos of stocked shelves and discussing the cookies across social media.
The Original Tim Tam features two malted chocolate biscuits layered with a cocoa-flavored filling and coated in chocolate. The brand, which has been a staple in Australia since 1964, has developed a loyal following well beyond its home market.
Costco is selling the product in six-sleeve boxes containing 66 cookies for about $14, giving American consumers broader access to a snack that was previously available primarily through specialty retailers and international food stores.
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Social media has played a key role in driving interest. Many first-time buyers have been introduced to the "Tim Tam Slam," a popular Australian tradition in which consumers bite off opposite corners of the biscuit, use it as a straw to sip coffee or tea, and then eat the softened cookie before it dissolves.
The technique has gained visibility through TikTok videos and celebrity demonstrations. Australian actress Isla Fisher previously showcased the Tim Tam Slam on "The Kelly Clarkson Show," while "Succession" star Sarah Snook demonstrated the ritual during an appearance on NBC's "The Tonight Show Starring Jimmy Fallon."
The viral appeal of Tim Tams underscores a broader trend of international food brands finding new audiences in the U.S., particularly when social media helps introduce consumers to products and traditions that may be unfamiliar outside their home countries.
For Costco, the launch also reflects the retailer's ongoing effort to offer members products they may not find elsewhere. The warehouse giant has increasingly leaned on exclusive items, limited-time offerings and its Kirkland Signature private-label brand to differentiate itself from traditional grocery chains and competing warehouse clubs.
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The Tim Tams rollout comes as Costco continues emphasizing value for shoppers. The retailer recently highlighted price reductions on several Kirkland Signature products, including chicken wings, chocolate-covered almonds and golf balls, as executives reiterated their goal of lowering prices when possible.
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The combination of exclusive products, private-label offerings and competitive pricing has helped Costco maintain strong consumer demand even as many households remain focused on stretching their grocery budgets.
Costco has also invested in operational improvements, including expanded digital membership capabilities and checkout technology designed to improve transaction speeds and enhance the customer experience.
https://www.foxbusiness.com/lifestyle/costco-shoppers-stock-up-cult-favorite-cookies-demand-surges-nationwide