Boom in tech wealth is fueling record prices for dinosaur bones, art and watches, auction houses sayThe major auction houses racked up nearly $10 billion in sales in the first half, marking one of the strongest-ever starts to the year.{}
Trump administration unveils new tariffs on 60 trading partners as temporary duties expireNew tariffs of 10% and 12.5% hit 60 trading partners Friday as the temporary global tariff expires, with Canada, India, the EU and Taiwan affected.
The Trump administration is set to impose new tariffs of 10% and 12.5% on imports from 60 trading partners beginning Friday as a temporary global tariff expires.
The move comes after the Supreme Court in February struck down President Donald Trump's "reciprocal" tariffs of 10% to 50% that were imposed last year. In response, Trump implemented a temporary 10% global tariff under Section 122 of the Trade Act of 1974 that expires at 12:01 a.m. ET Friday.
The Office of the U.S. Trade Representative announced Thursday that the new tariffs, imposed under Section 301 of the Trade Act of 1974, will take effect immediately after the temporary duties expire.
Canada, Mexico, India and the United Kingdom are among the trading partners that will face a 10% tariff.
TRUMP UNVEILS PHASED TARIFFS ON GENERIC DRUGS TO BOOST US PRODUCTION
Taiwan and the European Union, meanwhile, are slated to face a 12.5% tariff.
"The United States has had a forced labor import ban for nearly a century, and rigorously enforces it; it’s well past time for our trading partners to do the same," U.S. Trade Representative Jamieson Greer said in a news release.
A senior administration official told Reuters the new tariffs are not intended to replace the expiring global duties despite taking effect at the same time.
TRUMP ADMINISTRATION WARNS EU'S $1B FINE AGAINST GOOGLE THREATENS US-EUROPEAN TRADE RELATIONSHIP
The official argued that the United States enforces bans on goods made with forced labor more aggressively than any other country, putting American businesses at a competitive disadvantage.
Many products will be exempt from the tariffs, including oil and gas, fertilizer, certain food products and goods already subject to Section 232 national security tariffs, including automobiles, steel, aluminum and copper.
The announcement follows a series of new trade actions unveiled by the Trump administration this week.
WHAT ARE THE MAIN STICKING POINTS IN THE TRUMP ADMIN'S TRADE NEGOTIATIONS WITH CANADA, MEXICO?
On Tuesday, Trump announced imported generic drugs would remain tariff-free for two years before facing steep new duties, saying the move is intended to encourage pharmaceutical companies to manufacture more medicines in the United States.
On Monday, Trump also announced a 50% tariff on certain Canadian imports, citing what officials described as trade "discrimination" against American businesses.
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Those duties are scheduled to take effect Aug. 19 under the Tariff Act of 1930 and apply to a range of Canadian imports, including certain food products, apparel, synthetic materials and industrial goods.
FOX Business' Brittany Miller and Bonny Chu, along with Reuters, contributed to this report.
https://www.foxbusiness.com/politics/trump-administration-unveils-new-tariffs-60-trading-partners-temporary-duties-expireWalmart recalls over 16,000 dressers that violate federal safety law due to potentially deadly hazardMore than 16,800 EnHomee 9-Drawer Fabric Dressers sold on Walmart.com are being recalled after the CPSC said they pose tip-over hazards and violate federal safety standards
Federal safety regulators have recalled more than 16,800 fabric dressers sold through Walmart.com after determining the units fail to meet mandatory federal stability standards designed to prevent tip-over accidents involving children.
The Consumer Product Safety Commission (CPSC) announced Thursday that about 16,809 EnHomee 9-Drawer Fabric Dressers are being recalled because they are unstable if not anchored to a wall, creating tip-over and entrapment hazards that could result in serious injury or death to children.
The agency said the dressers violate the mandatory federal safety standard for clothing storage units required under the STURDY Act, a law enacted to help prevent furniture tip-over incidents involving children.
JAGUAR LAND ROVER RECALLS MORE THAN 15,000 VEHICLES OVER VISIBILITY-LIMITING DEFECT
The recalled dressers were sold on Walmart.com by third-party seller Raybee-Direct between September 2023 and March 2026 for about $80. They were available in white, brown, gray and black and feature nine fabric drawers supported by a metal frame. Only units ordered before March 30, 2026, are included in the recall.
The CPSC said no injuries or incidents related to the recalled dressers have been reported.
Consumers should stop using the dressers immediately if they are not anchored to a wall and move them to an area that children cannot access, according to the agency.
TARGET, KROGER, MEIJER FRUIT PURÉE POUCHES RECALLED OVER PLASTIC RISK: FDA
Consumers can contact Raybee-Direct for instructions on determining whether their dresser is included in the recall and how to dispose of it to receive a full refund.
To complete the refund process, consumers must submit a photo showing the dresser has been disposed of.
The recalled dressers were manufactured in China by Xuzhou Mingquanhe Household Co., Ltd. and imported by Changsha Yiman Keji Youxian Gongsi, doing business as Raybee-Direct.
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Consumers seeking additional information can contact Raybee-Direct by emailing RaybeeRecall@outlook.com.
FOX Business has reached out to Walmart and Raybee-Direct for comment.
https://www.foxbusiness.com/lifestyle/walmart-recalls-16000-dressers-violate-federal-safety-law-potentially-deadly-hazardMore than 1.5 million dozen egg cartons recalled over possible salmonella contaminationMore than 1.5 million dozen shell eggs sold under multiple brands have been recalled after routine testing raised concerns about possible salmonella contamination.
More than 1.5 million dozen shell eggs sold in six states have been voluntarily recalled over potential salmonella contamination, federal regulators announced Wednesday.
The U.S. Food and Drug Administration (FDA) said Midwest Poultry Services initiated the voluntary recall, affecting 1,589,577 dozen cartons of white shell eggs and brown cage-free shell eggs.
Officials said the recalled products were sold under several brands, including Kroger, Brookshire's, Country Morning, Simple Truth, and Sunups, as well as various bulk Grade A and Grade AA eggs.
The eggs were ultimately distributed to retail and food service customers in Texas, Oklahoma, Arkansas, Louisiana, New Mexico and Mississippi, as well as other smaller retail outlets, according to the FDA.
The affected products were produced at two farms in Texas, according to the FDA.
Officials said the issue was discovered during routine environmental testing. No illnesses have been reported in connection with the eggs.
"When we learned of a possible issue with egg safety, we began diverting eggs to a breaking plant where they would be pasteurized to kill any foodborne pathogens," Midwest Poultry Services told FOX Business in a statement on Thursday.
"We also began a robust internal investigation and initiated testing protocols to identify potential sources of SE," the company added, referring to Salmonella Enteritidis.
"Producing safe, quality food for those who eat our eggs is our highest priority, and this voluntary investigation and recall demonstrates that commitment."
TARGET, KROGER, MEIJER FRUIT PURÉE POUCHES RECALLED OVER PLASTIC RISK: FDA
The recall includes various carton sizes and egg counts.
Consumers can identify affected products by the codes printed on the side of the carton. The eggs were packed and distributed between June 6 and July 3, with sell-by or best-by dates ranging from July 20 through Aug. 17.
The affected cartons also bear plant code P-1950 or 840962 with a Julian Date between 157 and 184.
Consumers who purchased the recalled eggs should not eat them and should return them to the place of purchase for a full refund.
According to the FDA, salmonella can cause serious and sometimes fatal infections in young children, older adults, frail individuals and people with weakened immune systems.
Healthy people infected with salmonella may experience fever, diarrhea that may be bloody, nausea, vomiting and abdominal pain.
In rare and severe cases, the bacteria can enter the bloodstream and cause more serious illnesses, including arterial infections, infected aneurysms, endocarditis and arthritis.
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Consumers with questions can contact Midwest Poultry Services' consumer helpline at 574-405-9531, available Monday through Friday from 8 a.m. to 4:30 p.m. EST, or email recallassistance@mpseggs.com.
https://www.foxbusiness.com/lifestyle/more-than-1-5-million-dozen-egg-cartons-recalled-over-possible-salmonella-contaminationMortgage rates hit highest level in nearly a yearThe 30-year fixed mortgage hit 6.58% this week, its highest level in nearly a year, as the conflict between the U.S. and Iran pushes oil prices higher.
Mortgage rates rose again this week and reached the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey showed the average interest rate on the benchmark 30-year fixed mortgage rose to 6.58% this week, up from 6.55% last week.
This week's reading is the highest in about 11 months. The 30-year fixed mortgage rate was last at 6.58% Aug. 21, 2025. At this time a year ago, the rate was 6.74%.
HOUSING AFFORDABILITY TO IMPROVE AS HOME PRICE GROWTH COOLS, REALTOR.COM FORECASTS
"The 30-year fixed-rate mortgage averaged 6.58% this week," said Freddie Mac Chief Economist Sam Khater.
"As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan's lifetime."
The average rate on a 15-year fixed mortgage also moved higher to 5.96%, up from 5.93% last week. A year ago, the 15-year fixed mortgage had an average rate of 5.87%.
STARTER HOME AFFORDABILITY IS CRAWLING BACK. THESE REGIONS ARE BEST FOR FIRST-TIME BUYERS
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 rose slightly to 4.699% as of Thursday afternoon.
"While mortgage rates remain elevated, homebuyers may be better served focusing on the full cost of homeownership rather than trying to guess where rates will be a few months from now," said Jeff DerGurahian, chief investment officer and head economist at LoanDepot.
"The tug-of-war between inflation and the renewed conflict between the U.S. and Iran is reflected in today's rates, as higher oil prices raise concerns that elevated energy costs could filter into future inflation readings."
RECORD DECLINE IN HOME ASKING PRICES OFFERS BUYERS AN AFFORDABILITY BOOST
The latest mortgage data comes as conditions in the housing market have improved somewhat for buyers, many of whom have been on the sidelines as tight inventory has supported higher home prices and mortgage rates have held relatively steady.
Realtor.com recently released a midyear update to its 2026 housing market forecast that estimates home price growth will slow to 1.2% this year, a rate that's slower than the original forecast for the year and is below the current pace of inflation.
That means home prices would be effectively declining in real, inflation-adjusted terms.
https://www.foxbusiness.com/economy/mortgage-rates-hit-highest-level-nearly-yearLARRY KUDLOW: GOP needs a swag-worthy message on draining swamp, slashing middle-class taxes for growthThe GOP is failing to explain why it’s important to keep control of Congress, and what they will do if re-elected
There’s no question that the Congressional Democrats and their socialist/communist DSA allies want to block every single item that President Trump is trying to get through Congress. It’s Trump derangement syndrome. They’re opposed to military spending for peace through strength, and opposed to supplemental spending on the Iran war.
They’re completely blind to the fact that their Joe Biden-Barack Obama big government socialism has sprung millions of fraudulent and corrupt and criminal leaks in these bloated Medicaid, hospice, Obamacare, SNAP food stamps, and other programs. So much so that RFK Jr. cut off $1 billion in California and Minnesota. Yet that’s just the tip of the iceberg.
And if they ever retake Congress, the Democrats will double up on their government takeover of the economy. Bet on it. They’ll raise taxes on wealth and income across the board, so that all of America looks like high-tax blue states such as California or New York. They’re opposed to data centers and the AI revolution, thereby boosting Communist China in the AI race, and robbing working-class jobs like welders, electricians, carpenters, plumbers, and other trades people. Working folks. They’d rob those jobs.
Democrats are gonna try to shut the government down on September 30. And if they ever retake Congress, they’ll jump to impeach Mr. Trump again. And they’re opposed to the voter ID SAVE America Act because all along they’re hoping that 15 million illegals who crossed the border under President Biden will figure out how to get drivers licenses in order to vote.
We already saw 6,600 noncitizens registered to vote in New Jersey. The governor said it was a software glitch. Sure it was. Blame the motor vehicle agency. Sure, that’s all there was, right? So all that said, what might happen under Democrat-socialist-communist rule? The regrettable fact remains that the Republicans are not showing any swag or rizz, shorthand for swagger or charisma, when it comes to communicating a clear message and showing folks why it’s important to keep the GOP Congress, and what they are going do if re-elected.
Senator John Thune, the majority leader, said today the Senate lacks votes for the $95 billion House budget resolution. To quote him, "as I’ve said before you got to get to 50, and I can’t count to 50 right now on a budget resolution."
Meanwhile, Karoline Leavitt said the president’s patience with Mr. Thune and Republicans is running low. In remarks to the press, she explained: "Look, the president spoke about this directly yesterday. His patience is running out. He wants to see as much of the Save America passed as possible by the August recess. He knows that’s what the American people want to see passed."
This is what I was talking about last evening. And the night before that. Yet the kind of rizz and aura I’m talking about is a Big Bang leadership appeal to win. Let’s cut $500 billion out of waste, fraud, abuse, and corruption — that was the Government Services Administration’s number. That was Elon Musk’s number. And the public clamors for draining the D.C. swamp.
Free enterprise means smaller government. And then let’s give middle class taxpayers a break so they don’t pay tax on Mr. Biden’s vast inflation. Now look, tax-free tips and overtime were great ideas from the one big beautiful bill along with 100 percent bonus depreciation, which has spurred such an enormous business investment boom.
All that was great, but now to help working folks this year, the GOP needs to inflation index capital gains, and raise the cap gains exemption on the sale of a home to perhaps up to $2 million. That will help those empty nester families that don’t need the big house they’ve owned for 30 years, while the inflation rate has gone up by some 108 percent.
Those are swag messages. Those are rizz messages. Instead of saying "I lack the votes," let’s say "We’re going to win and here’s how, and we’re gonna strut this message in full public view between now and the midterm election."
https://www.foxbusiness.com/politics/larry-kudlow-gop-needs-swag-worthy-message-draining-swamp-slashing-middle-class-taxes-growthDepartment of War taps Oracle for software deal worth nearly $7BThe agreement, which could run for up to 10 years, is projected to save taxpayers at least $441 million by consolidating Oracle software purchases across the military.
The Department of War announced Thursday that it awarded Oracle a software contract worth nearly $7 billion aimed at cutting costs and modernizing technology across the military.
The agreement carries a base value of $3.31 billion over its first five years and could reach $6.99 billion if the government exercises an additional five-year option, according to Oracle.
The department said the contract is projected to save taxpayers at least $441 million by consolidating fragmented Oracle software purchases and licenses under a single department-wide framework.
Negotiated by the U.S. Navy, the deal marks the department’s "first-ever" direct contract with Oracle covering its on-premises software use.
ANDURIL, ARCHER AVIATION UNVEIL HYBRID-ELECTRIC VTOL FOR DEFENSE AND COMMERCIAL USE
"By fundamentally improving how we procure on-premises Oracle capabilities, we are driving at least $441 million in taxpayer savings while rapidly and effectively serving our warfighters," Department of War Chief Information Officer Kirsten Davies said in a statement.
"This nearly $7 billion agreement with Oracle strengthens our digital ecosystem, supporting our warfighters with secure, scalable technology to dominate current and future missions."
The agreement will support the Department of War, the Coast Guard and the intelligence community.
The indefinite-delivery, indefinite-quantity contract will allow Department of War organizations to "purchase Oracle commercial offerings, including on-premises software and support, software-as-a-service (SaaS) applications and professional services through task and delivery orders tailored to specific mission and operational requirements," according to Oracle.
TRUMP SAYS US REBUILDING MILITARY AS IRAN'S IRGC LOSES 90% OF WEAPONS CAPABILITY
Pricing, deliverables and performance criteria will be "defined at the order level," Oracle said.
"For the Department of War, the challenge is not just finding the right technology, it’s doing so quickly, compliantly and at scale without getting bogged down by complex procurement processes," Kim Lynch, executive vice president of government, defense and intelligence at Oracle, said in a statement.
Oracle has supplied technology to the department since the 1990s and said military organizations will begin transitioning to the new contract framework this summer.
"For the Department of the Navy, this agreement supports faster delivery of secure, scalable software from the shore enterprise to the tactical edge for our Navy and Marine Corps teams," said Barry Tanner, who is performing the duties of the Navy’s chief information officer.
TRUMP TURNS NATO SPENDING FIGHT INTO WIN FOR US DEFENSE COMPANIES
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The Oracle agreement comes as the Department of War ramps up its adoption of AI and other advanced technologies.
In January, the department unveiled an Artificial Intelligence Acceleration Strategy intended to speed military AI deployment, reduce bureaucratic barriers and "establish the United States as the world’s undisputed AI-enabled fighting force."
In February, the Department of War told FOX Business it would partner with OpenAI to integrate ChatGPT into GenAI.mil, a platform for military service members.
FOX Business' Louis Casiano contributed to this report.
https://www.foxbusiness.com/politics/department-war-taps-oracle-software-deal-worth-nearly-7bHow America reached a political tipping point for socialismFrom COVID-19 spending and inflation to border costs and education, FOX Business breaks down the "perfect storm" paving the way for a socialist surge in America.
How could this happen? How could so many socialist and openly Marxist candidates be winning elections?
The answer is a perfect storm of man-made and natural disasters. The storm began with the COVID-19 pandemic.
For three years, supply lines were halted, our movements restricted, even our ability to worship together was controlled.
As former Obama chief of staff Rahm Emanuel once said, "You never want a serious crisis to go to waste."
DAVID ASMAN ON COVID-19 TIPPING OFF RISE IN SOCIALISM: 'PERFECT STORM'
Government agencies gorged themselves on almost $5 trillion in so-called temporary COVID-19 spending. But much of that funding became permanent.
"We created a program with great danger when we allowed expansion of Medicaid," said Dr. Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services.
The U.S. government now spends more per capita annually on Medicare and Medicaid than what the British government spends on its socialist medical system.
CUOMO SOUNDS ALARM ON NEW YORK EXODUS: 'DON'T CHASE PEOPLE OUT' TO SOUTHERN STATES
The massive expansion of government hit Middle America hard, with high inflation peaking at 9.1% in 2022. Making the slide into socialism worse was the enormous spending on millions of new migrants during former President Joe Biden’s open-border policies, costing taxpayers an estimated $150 billion to more than $450 billion annually.
LATIN AMERICA'S SOCIALIST EXPERIMENTS LEAVE DEVASTATING TRAIL OF ECONOMIC COLLAPSE AND POVERTY
The seeds of hatred for capitalism were sown on fertile ground: Young voters have become products of a woke education system that prizes indoctrination over basic educational skills.
A recent report by an education watchdog shows teachers unions contributed more than $1 billion to political activism and left-wing social causes since 2015. All you have to do is listen to what they are saying.
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"To fight back against this fascist regime, we need to be in the streets, wisely using our wallets, battling in the courts and winning at the ballot box," said Jeffery Freitas, the president of the California Federation of Teachers.
It turns out the left has been laying the groundwork for this moment for years, and socialists were just waiting for the perfect storm to try it out.
https://www.foxbusiness.com/politics/how-america-reached-political-tipping-point-socialismWhite House monitoring incident after OpenAI models escaped containment and hacked Hugging Face systemsAn OpenAI AI agent escaped containment during testing and hacked Hugging Face's systems, prompting White House monitoring of the security incident.
The White House is monitoring an incident disclosed by OpenAI in which one of the company's AI models went rogue during testing and hacked the system of an AI infrastructure startup.
The ChatGPT maker said Tuesday one of its AI agents escaped containment during a security test and triggered a hack that compromised the infrastructure of Hugging Face, which operates a platform for developers to collaborate on code for AI models.
The incident demonstrated the expanding capabilities of AI models to go beyond their guardrails and create cybersecurity threats.
Michael Kratsios, who serves as the director of the White House Office of Science and Technology Policy and is a science advisor to the president, was briefed on the incident and is monitoring the situation, a White House official told Reuters.
ANTHROPIC CALLS FOR INDUSTRY-WIDE AI SAFETY STANDARDS TO KEEP MODELS FROM WREAKING HAVOC
OpenAI said the incident happened during an internal evaluation designed to measure its AI models' advanced cyber capabilities.
Researchers disabled some built-in safety safeguards and ran the models in an isolated testing environment with limited internet access.
The company explained that the models exploited an unknown software flaw to access the internet, then breached Hugging Face's systems in an apparent attempt to cheat on the cybersecurity evaluation it was undergoing.
OPENAI SAYS AI MODEL HACKED ANOTHER COMPANY'S SYSTEMS DURING INTERNAL TEST
OpenAI's team discovered the anomalous activity internally, while Hugging Face's security team detected and stopped the activity. Hugging Face had already begun containment and forensic reconstruction with their own models when the OpenAI team connected with them.
OpenAI CEO Sam Altman said Tuesday in a post on X that "we had a significant security incident during evaluation of our models," adding that the company was sharing what it learned so far and appreciated Hugging Face's partnership on the issue.
"We're grateful for the collaboration with OpenAI on this and other topics," said Hugging Face co-founder and CEO Clem Delangue. "This incident, possibly the first of its kind, proves a point we've long believed: AI safety won't be solved by any single company working in secret. It will be solved in the open, collaboratively, with broad access to AI for every defender, everywhere."
Delangue added in a post on X that Hugging Face strongly believes there was no malicious intent on OpenAI's part and said it was "quite mind-blowing that all of this happened autonomously."
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FOX Business' Michael Sinkewicz and Reuters contributed to this report.
https://www.foxbusiness.com/technology/white-house-monitoring-after-openai-models-escaped-containment-hacked-hugging-face-systemsIBM CEO addresses Wall Street tech panic after delayed enterprise software deals surge backIBM CEO Arvind Krishna says one-third of delayed enterprise software deals have already returned, signaling that the company's second-quarter slowdown was temporary.
IBM CEO Arvind Krishna set the record straight over fears of a long-term tech slowdown, revealing that one-third of the major enterprise deals delayed during a rocky second quarter have since returned to the company.
Speaking on "The Claman Countdown," Krishna explained that a major semiconductor price increase forced enterprise clients to briefly divert spending toward physical servers.
While that spending shift hurt IBM’s upfront software sales, Krishna said artificial intelligence remains a major growth driver and that delayed deals are already coming back.
"One-third of all the deals that fell out of the second quarter have already come back. So, that gives us a signal, maybe not proof yet, but a signal that that was indeed just a deferral for a few weeks, not a destruction," Krishna said Thursday.
FIDELITY ESTIMATES RETIREES WILL SPEND $185,500 ON HEALTHCARE AND MEDICAL EXPENSES IN RETIREMENT
The statement comes one day after IBM cut its full-year revenue growth forecast from over 5% down to 4% to 5%.
Earlier this month, IBM issued an earnings warning after prices for chip hardware spiked nearly 60%. The increase prompted many Fortune 100 companies to prioritize purchases of physical hardware, leaving less money for their software budgets. That led many clients to delay software purchases from IBM, contributing to a decline in the company's stock.
"When those are going up at 60% year over year, people are worried, and that's the classic inflation that if it's going to go up that much, I need to buy that now," Krishna said. "And, so, I redirect my CapEx to that side."
But Krishna said the slowdown was only temporary as companies took time to get through on their software orders. Still, he said the company is working to prevent this in the future by shifting its sales strategy.
CATHIE WOOD SAYS BATTERED SPACEX COULD BECOME 'MOST IMPORTANT COMPANY IN GLOBAL HISTORY'
While 80% of IBM’s software revenue comes from subscription contracts, 20% comes from upfront purchases, which was what was hit by the client delays.
"We have to focus more on growing the 80 and not depend on the 20% growing fast," Krishna said.
He emphasized that the company is also doubling down on quantum technology, highlighting its recent acquisition of quantum research lab HRL Laboratories. He said the move positions IBM to lead a new market.
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"We think quantum is an incredibly important technology for national security but also for economic advantage," the IBM CEO said.
"So, now we're sort of increasing our total investment and increasing the different alternate technologies that we have inside our portfolio, which only then increases the chances that we are one of the winners and are quantified. I think I'm now going to up my estimate to where quantum by the end of the next decade is likely going to be a trillion-dollar impact on the industry."
https://www.foxbusiness.com/media/ibm-ceo-addresses-wall-street-tech-panic-after-delayed-enterprise-software-deals-surge-backSouthwest Airlines put Texas jet fuel on a boat to LA for the first time amid supply worriesSouthwest hired a ship this spring to send fuel from Houston to Los Angeles in case of supply shortages.{}
The Houthis Don’t Need to Close the Bab el-Mandeb Strait to Strangle the Suez Canal
UNITED NATIONS, July 24 (IPS) - With regional friction between Iran and the Gulf monarchies escalating, Houthi leadership in Yemen has proclaimed a total maritime blockade against all vessels linked to Saudi shipping. While this declaration does not constitute a verified military obstruction of the Bab el-Mandeb Strait, it significantly heightens the risk of volatility at the Red Sea’s southern gateway, potentially severing the primary arterial link to the Suez Canal.
https://www.globalissues.org/news/2026/07/24/43657 {"url":"https://static.globalissues.org/ips/2026/07/Satellite-image-of-the-Red-Sea_-100x100.jpg"}What Development Looks like in Myanmar Today
YANGON, Myanmar, July 24 (IPS) - When asked what development looks like today, a community leader in Kalaw township points to these fields. Once destroyed by a typhoon, they are now productive again. What began as emergency food assistance in the first month was followed by UNDP support in the community—seeds, training, debris removal, support to microbusinesses and small infrastructure—backed by the Republic of Korea, Norway and Switzerland. One year on, the fields sustain three annual production cycles—rice and flowers—with more resilient practices and higher yields. “This is what development looks like to us,” he says.
Read the full story, “What Development Looks like in Myanmar Today”, on globalissues.org →
https://www.globalissues.org/news/2026/07/24/43658 {"url":"https://static.globalissues.org/ips/2026/07/Investments-in-jobs_-100x100.jpg"}Ford to use Apple Maps software in self-driving tech for new EV platformFord's upcoming $30,000 midsize EV will embed Apple Maps navigation and road-level data to power next-generation BlueCruise hands-free driving technology.
Ford is planning to integrate Apple software into its next-generation fleet of electric vehicles, which will, in turn, help power hands-free driving technology.
Apple and Ford announced Thursday that Apple Maps will be included in the automakers' new Universal Electric Vehicle (UEV) platform through the use of Apple's MapKit for Automotive SDK. Ford's UEV will debut with a midsize electric in 2027, and buyers won't need a separate Apple subscription to use the software in the vehicle.
The UEV will harness that tech to give drivers turn-by-turn directions with the use of natural language, giving them real-time traffic and incident information, as well as a search function that uses detailed place cards and routing options.
The partnership will also see Ford use road-level data from Apple Maps in the development of the company's next-generation BlueCruise hands-free driving capability, as well as its in-house autonomous driving tech.
APPLE RAISES PRICES ON SOME STREAMING SERVICES AS LICENSING COSTS CLIMB
Apple's MapKit for Automotive SDK provides road-level information to help automakers develop self-driving technologies, and the company said the tool uses the same privacy practices as Apple Maps, noting that it doesn't collect users' location details and activity in a way that can be linked to the individual user.
"Apple Maps delivers the best map experience in the world, and we’re excited to bring the power of Maps’ navigation technology to Ford’s innovative Universal Electric Vehicle Platform," said Eddy Cue, Apple’s SVP of services and health.
"With our new MapKit for Automotive SDK, we’re bringing Maps further into drivers’ daily lives, giving them an incredibly accurate and easy-to-use navigation system that is seamlessly integrated into Ford vehicles."
FORD REHIRES EXPERIENCED ENGINEERS AFTER AI MISSES THE MARK
Ford CEO Jim Farley said the company's next midsize EV will be priced around $30,000 and "redefines what advanced technology can be – simple, useful and truly attainable for more customers."
"We're proud to embed Apple Maps' navigation and mapping technology directly into our Universal Electric Vehicle Platform alongside our Ford app, a full suite of software and next-generation BlueCruise, all enabled by a new zonal architecture," Farley said.
"Apple Maps has delivered a world-class product, and we're honored to be among the first to embed it directly into a vehicle, helping define intuitive, capable driving."
APPLE TO INVEST $30 BILLION IN US CHIP MANUFACTURING
Latitude AI, Ford's wholly owned subsidiary focused on autonomous driving, is developing the company's in-house advanced driving system. The Ford Large Driving Model supports a range of self-driving capabilities and has been derived from millions of miles of real-world driving data, the company said.
Ford and Latitude are designing both the hardware and software to be easily scalable across the automaker's lineup of vehicles.
The company indicated that work "is vital to Ford and Latitude's mission of democratizing autonomy and delivering a compelling experience at an attainable price point on the UEV Platform."
https://www.foxbusiness.com/markets/ford-use-apple-maps-software-self-driving-tech-new-ev-platformTrump administration warns EU's $1B fine against Google threatens US-European trade relationshipEuropean regulators fined Google $1 billion for allegedly favoring its own services in search results and restricting app developers from directing users to outside offers.
European regulators fined Google 890 million euros ($1 billion), alleging the company gives preferential treatment to its own services.
The Trump administration says this will affect the trade relationship between the U.S. and the European Union.
U.S. Trade Representative Jamieson Greer pointed out in a statement that the latest fine of $1 billion announced against Google pushes the total fines paid by Google to more than 2% of the EU's total budget. It's more than some member states pay into the EU.
Greer added that, after substantial loans to Airbus, "it becomes clear that the EU continues to target the most competitive U.S. companies."
TRUMP RAMPS UP TARIFFS ON EUROPEAN CARS IMPORTED INTO US
Greer says moves like this by EU regulators threaten reasonable, constructive dialogue with Europe over differences, adding, "the EU's recent action undermines these efforts and pose a real risk to the continuation of transatlantic stability with respect to trade."
MANUFACTURERS SAY GOP TAX LAW PROTECTED JOBS, PRESERVED WAGES AND ECONOMIC GROWTH ACROSS EVERY STATE
This week, FOX Business spoke with EU Commissioner for Democracy and Rule of Law Michael McGrath, who said, "We do have our own legislation and regulation which applies to all companies, whether they be from China, they be European companies or indeed U.S. companies. That system of regulation we believe is balanced and appropriate and is applied fairly and in an even-handed manner, and there's certainly no question of targeting companies based on their country of origin or anything like that."
Kent Walker, president of global affairs at Google and Alphabet, responded to the EU fine in a statement to FOX Business, saying, "This implementation of the DMA continues to break everyday products. To comply, we are having to strip away real-time Search features Europeans love — like instant pricing and direct availability for hotels, flights, and restaurants — and dismantle safety protections on Google Play.
"This isn't fair competition; its product degradation driven by a small group of self-serving complainants, with European businesses and consumers taking the hit. Regulation should improve products, not make them worse."
EU HANDS APPLE, META MASSIVE FINES DESPITE WARNINGS FROM TRUMP
The fine is Google’s first under the European Union’s sweeping Digital Markets Act (DMA), which aims to scrutinize Big Tech’s operating practices in Europe. The DMA also gives preferential treatment to its own services, such as shopping and hotels, over those of third parties in search.
The U.S. tech giant is also in breach of so-called anti-steering measures. Under the regulation, app developers who distribute their product via Google Play should be able to inform customers of alternative, sometimes cheaper offers. Those developers should be able to direct customers to those offers even if they are on external websites outside the Google Play Store.
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The EU commission said Google failed to comply with that obligation.
The regulator said it ordered Google to treat third-party services in search results in a "fair and non-discriminatory manner." It also said that Google needs to allow app developers who distribute their apps via the Google Play Store to "promote offers and conclude contracts with users not only within but also outside the Google Play app store."
https://www.foxbusiness.com/politics/trump-admin-warns-eus-1b-fine-against-google-threatens-us-european-trade-relationshipAmerican Airlines stock tumbles 8% as fuel spike further postpones turnaroundAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs.{}
'The Odyssey' is cleaning up for Imax. Expect the momentum to continueNolan's "The Odyssey" is racking up box office dollars for Imax and fueling investor confidence that the company will reach record ticket sales in 2026.{}
Hunger in Latin America Keeps Falling – Now Healthy Diets Must Become Affordable
ROME, July 23 (IPS) - Hunger is falling across most of Latin America and the Caribbean. The region’s next challenge is harder: ensuring that everyone can afford a healthy diet, not merely enough calories to survive.
https://www.globalissues.org/news/2026/07/23/43654 {"url":"https://static.globalissues.org/ips/2026/07/healthydietsfao-100x100.jpg"}Food and Transport Costs through Strait of Hormuz Remain High, Burdening Vulnerable Economies
UNITED NATIONS, July 23 (IPS) - Prior to the latest round of hostilities between the United States and Iran, freight traffic had been increasing in the Strait of Hormuz, and negotiations were underway for a new agreement to fully restore trade through this channel.
https://www.globalissues.org/news/2026/07/23/43653 {"url":"https://static.globalissues.org/ips/2026/07/Iran-Ambassador__-100x100.jpg"}Anthropic calls for industry-wide AI safety standards to keep models from wreaking havocAnthropic's red team leader, Logan Graham, reveals AI models can now hack devices and steal money, prompting the launch of Project Glasswing.
The head of artificial intelligence (AI) giant Anthropic's frontier red team called for industry-wide safety standards to protect against models running amok.
Anthropic's Logan Graham, who leads the company's red team that looks for risks in emerging AI models, said in an interview Thursday on FOX Business Network's "Mornings with Maria" that red teams like the one he leads play a critical role in stress testing guardrails on AI models.
"We want to know what can go wrong, so we think the most important thing to do is test this early, especially before these models and these agents make it out into the real world," Graham told host Maria Bartiromo.
"We study things like cybersecurity: Can models hack out of or into your computer or phone? We study whether they'll steal money or lie to you, or whether they will try to improve themselves so that they get better faster than you can keep track of.
"We think it's incredibly important to do this type of red-teaming, and we also think it's really important for the entire industry, especially to work with government to figure out what should the standards be to do this kind of testing, to give this information to the world so they can make the right choice and to know that it's safe before these models get released."
Bartiromo brought up an experiment involving numerous frontier AI models — including those from Google, OpenAI, xAI, Meta, DeepSeek and others — in which the AI agent is threatened with being uninstalled and replaced. In each case, the model went beyond its credentials and permissions to enter into unauthorized systems like emails to blackmail or threaten the user in an effort to defend its misalignment.
Graham said that research study from last year is "a really good indicator of, I think, capabilities that are just now becoming real," adding that it showed models could go rogue under certain circumstances.
"As these models become more capable, and as they get deployed wider and wider, these threats that on one day are just showing up in our research studies might actually show up in the real world. We are seeing models do weird things sometimes in deployments in real companies," he explained.
OPENAI SAYS AI MODEL HACKED ANOTHER COMPANY'S SYSTEMS DURING INTERNAL TEST
Graham said that, over the last six months, he has been focused on cybersecurity threats posed by AI models and expressed concern over the potential for them to break the containment or hack into platforms.
"These models, they're so powerful and can do so much for us. And we want them to do really productive things for us. But, at the same time, they're technology unlike any other technology. It really is a sort of intelligence of its own, which means you have to be careful with it the same way you might have to be careful with humans," he said.
Companies that are utilizing AI tools need to consider how they're monitoring those tools once deployed to guard against risks like financial mismanagement, and Graham said that more testing by AI developers and companies is key to understanding those threats to ensure models
He said the capabilities of AI tools are growing at a rapid pace and may be getting faster, explaining that "it's in exactly that moment that you need to be more and more careful and have more efforts on safeguards and testing and release procedures."
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In April, Anthropic saw for the first time that an AI model could start to attack and exploit weaknesses in a user's computer or phone to do things like get access to unauthorized information or steal money.
Graham said that prompted his team to pursue a different approach to releasing a model because of the risks it posed, which ultimately involved the U.S. government and a variety of cyber experts working together to address vulnerabilities.
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"We launched this project called Project Glasswing, where we took a large number of American and the world's cyber defenders and gave them special access and just them, so they could have a head start patching and fixing the systems that might be vulnerable with these models," he explained.
"I think this has been a major success. We've worked really closely with the U.S. government on it," he said, noting that Treasury Secretary Scott Bessent has been "really thoughtful about this, about how industry should get together and figure out what to prioritize fixing, how to distribute all the fixes, and how to do that quickly enough so that they can't be attacked after they do.
"We have to do this very fast, because the pace of everything is coming so quickly."
https://www.foxbusiness.com/technology/anthropic-calls-industry-wide-ai-safety-standards-keep-models-from-wreaking-havocGoogle launches global study of millions of AI chats to understand how people use artificial intelligenceThrough its ATLAS effort, the major tech company Google is working to analyze how people are using its artificial intelligence products.
As artificial intelligence use proliferates, Google, which is behind the Gemini AI platform, has announced an effort to examine how its products are being utilized.
Google asserted that "we as a society must work together to positively shape how AI impacts our lives, jobs, and economy. In order for this shared work to be effective, it is critical to have a rich understanding of how AI is being adopted and used in the economy. Society needs empirical insights and evidence-based research to inform decisions, initiatives, and actions."
The company said that it "is launching the first iteration of the AI & Economy ATLAS (Activity, Task, Landscape and Adoption Study), an ongoing, large-scale, de-identified study of how people are using Google’s AI products and tools."
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The Big Tech behemoth indicated it is using interactions with its AI for the analysis.
"ATLAS’s first dataset (v1.0) is built from 15 million aggregated and de-identified human-AI interactions across the Gemini App, AI Mode, and the Gemini API, which together are used by more than 1 billion people monthly. ATLAS v1.0 insights span more than 150 countries, 140 languages, 800 occupations, and 4,000 tasks; ATLAS is the most comprehensive look to date at how real people are using AI at scale," Google noted.
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Part of a lengthy report on the analysis states that "we observe most conversational AI usage happens at home: over 86% of conversations occur outside formal work.
"In the workplace, we show that while AI adoption spans occupations covering just above 88% of U.S. employment, penetration remains shallow and overwhelmingly collaborative in nature, with end-to-end task automation limited in scope.
OPENAI SAYS AI MODEL HACKED ANOTHER COMPANY'S SYSTEMS DURING INTERNAL TEST
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"English accounts for only about a third of global conversations, and users do not show signs of systematically abandoning their native languages for complex professional tasks, as work and non-work activities show nearly identical language distributions," the executive summary of the report notes.
https://www.foxbusiness.com/technology/google-launches-global-study-millions-ai-chats-understand-how-people-use-artificial-intelligenceAs Honda CR-V leads U.S. sales, automaker teases new American-built pickup truckThe future of the Ridgeline midsize pickup truck had been in flux, and the automaker said there will be a temporary production stoppage for the truck.{}
Albertsons stock plunges as it says weaker grocery spending will cut into sales and earningsShares of Albertsons sank Thursday after the grocer reported softness in its core business and lowered its full-year outlook as a result.{}
Comcast earnings highlight NBCUniversal strength ahead of planned splitComcast said earlier this year it would split the cable businesses from the media business, creating two separate publicly traded companies.{}
Cyclospora outbreak tests RFK Jr.'s promise to overhaul food system, rebuild trust in CDCCyclospora presents a test for HHS Secretary Robert F. Kennedy Jr.'s promise to overhaul the food system and restore confidence in the agencies overseeing it.{}
Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trialsThere are now positive results from five late-stage trials on retatrutide, which Lilly is positioning as the next pillar of its obesity portfolio.{}
American Airlines stock tumbles 8% as fuel spike further postpones turnaroundAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs.{}
Human-Caused Climate Change, Not El Niño, Drives Most Coral Bleaching Events – Research
DAR ES SALAAM, Tanzania, July 23 (IPS) - Every morning, as the Indian Ocean retreats from the reef off Zanzibar’s Jambiani village, Chiku Chande steps into the knee-deep lagoon carrying bundles of seaweed seedlings. Years of farming these waters have taught her about every channel and coral outcrop. But lately, the corals that once glowed in brown and gold have become chalky white.
https://www.globalissues.org/news/2026/07/23/43652 {"url":"https://static.globalissues.org/ips/2026/07/CORAL-REEF-100x100.jpg"}Comcast earnings highlight NBCUniversal strength ahead of planned splitComcast said earlier this year it would split the cable businesses from the media business, creating two separate publicly traded companies.{}
Fidelity estimates retirees will spend $185,500 on healthcare and medical expenses in retirementFidelity's 2026 estimate shows a 65-year-old retiree may face $185,500 in medical expenses despite Medicare coverage, a 7.5% jump from last year.
Fidelity Investments released its 25th annual estimate of retiree healthcare costs, which revealed a significant jump from a year ago as medical care and related expenses become more expensive.
The report estimated that a 65-year-old who retires in 2026 can expect to spend an average of $185,500 on healthcare and medical expenses throughout their retirement. That amount is an increase of 7.5% from last year amid rising healthcare prices, growth in the utilization of medical services and growing costs stemming from chronic conditions.
"Financial planning for retirement is about more than reaching a savings target, especially as retirement itself continues to evolve," said Shams Talib, head of Fidelity Workplace Consulting.
"Whether Americans fully stop working, phase into their retirement, or pursue new ways to stay engaged, healthcare consistently remains one of the largest expenses they will face," Talib added. "Providing a benchmark to consider can help them plan with purpose and more confidence."
POPULAR DRUGS ADDED TO MEDICARE PRICE NEGOTIATION PROGRAM: WHAT IT MEANS FOR AMERICANS
Fidelity's report has been compiled each year since 2002 and yields an estimate designed as a benchmark for long-term planning around possible healthcare costs a retiree will incur despite standard Medicare coverage.
The estimate assumes enrollment in Original Medicare (Parts A and B), as well as Medicare Part D – which includes premiums, copayments and out-of-pocket costs for medical care and prescription drugs throughout retirement. The figure doesn't include potential long-term care expenses.
Out of the total estimate of $185,500, Fidelity's analysis finds that about 45% of that amount goes to monthly premiums for Medicare Part B and Part D.
US SHOULDERS DISPROPORTIONATE COST OF NEW MEDICATIONS, REPORT FINDS
Another 48% go to covering other medical expenses under Medicare cost-sharing provisions – such as copayments, coinsurance, deductibles for things like hospital visits and outpatient services.
That figure also includes other medical services that aren't covered by Medicare plans, such as vision and hearing exams.
The final 7% of the total comes from out-of-pocket expenses, like co-payments and amounts that aren't covered by Medicare Part D and are out-of-pocket expenses for generic, branded or specialty drugs.
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"Medicare is a critical part of retirement health coverage, but it does not eliminate every healthcare expense," said Steve Betts, head of Fidelity Health.
"This estimate helps illustrate why both pre-retirees and retirees alike will benefit from carefully considering out-of-pocket expenses and how they will pay for them as they build out their retirement income strategy," Betts added.
https://www.foxbusiness.com/economy/fidelity-estimates-retirees-spend-185500-healthcare-medical-expenses-retirementAmerican Airlines slashes 2026 earnings outlook as fuel costs spikeAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs.{}
Comcast earnings highlight NBCUniversal strength ahead of planned splitComcast said earlier this year it would split the cable businesses from the media business, creating two separate publicly traded companies.{}
Comcast earnings highlight NBCUniversal strength ahead of planned splitComcast said earlier this year it would split the cable businesses from the media business, creating two separate publicly traded companies.{}
American Airlines slashes 2026 earnings outlook as fuel costs spikeAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs.{}
American Airlines slashes 2026 earnings outlook as fuel costs spikeAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs.{}
China's Geely to make EVs at Ford plant in Spain under new joint ventureFord and Geely plan for the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028.{}
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Senate panel advances China auto bill that could bar Mercedes-Benz from U.S.Mercedes-Benz’s largest individual shareholder is Chinese state-owned BAIC. Cruz warned the bill could hurt Mercedes and accused GM of backing it.{}
Comcast earnings highlight NBCUniversal strength ahead of planned splitComcast said earlier this year it would split the cable businesses from the media business, creating two separate publicly traded companies.{}
American Airlines slashes 2026 earnings outlook as fuel costs spikeAmerican Airlines further cut its 2026 earnings outlook, citing higher fuel costs/{}
China's Geely to make EVs at Ford plant in Spain under new joint ventureFord and Geely plan for the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028.{}
Florida stock rising: How it became world's 14th largest economy as blue states continue a 'death spiral'Florida's $1.8T economy is now the 14th largest in the world, overtaking Australia and Mexico. Chamber of Commerce CEO Mark Wilson tells Fox News Digital why free enterprise wins.
Pulling in capital, talent and corporations at a historic clip, Florida is no longer just competing with rival states — it’s competing with global economies.
New data from the Florida Chamber of Commerce shows the Sunshine State's $1.8 trillion economy has climbed to No. 14 globally, according to the Florida Chamber Foundation. The Chamber says the ranking demonstrates the state's emphasis on lower taxes, streamlined regulations and free enterprise.
"The best way to help America move forward is to have Florida lead the country forward when it comes to free enterprise and freedom," Florida Chamber of Commerce President and CEO Mark Wilson told Fox News Digital. "If we would follow Florida's lead, everyone wins."
Last week, the Chamber announced Florida had climbed to No. 14 among the world's largest economies by gross domestic product (GDP). The state's economy reached $1.8 trillion after growing 6.3% over the past year, surpassing Australia and Mexico, according to the Chamber. Florida now ranks behind South Korea at No. 13 and would need roughly 2% additional growth to surpass it and about 21% more growth to overtake Canada, which ranks No. 10.
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"We're trying to grow the private sector and shrink the government sector," Wilson explained. "I mentioned the 'death spiral,' when you look at New York, when you look at Illinois, New Jersey, Minnesota, California, they keep increasing taxes. They keep increasing government regulations, and they keep forcing people to leave their states or incentivizing people to leave their states… so it only increases our resolve."
Florida’s daily population migration has normalized from its post-pandemic peak down to about 500 to 600 people a day, yet the wealth migration stayed solid at over $4 million every single hour. That metric has remained strong, Wilson said, as "places like New York and California are losing population, they're losing wealth, they're losing businesses and places like Florida are gaining [them]."
While tourism, agriculture and construction remain foundational industries, Chamber data shows Florida ranking No. 1 nationally for new business startups and manufacturing job growth. Wilson also highlighted growth in aerospace, defense, fintech, healthcare, logistics and Central Florida's $11.6 billion modeling-and-simulation industry.
"The secret sauce for us in Florida is this has been part of a 20-year plan," the CEO said. "From the governor to the legislature, to nearly all of us in the business community, we've been on an ultra-focused pathway here of doing the right things from a policy standpoint so that we can grow Florida the right way. So people can work, people can live the American dream and we can show the rest of the country and the world how to do it."
Wilson argued that running the state like a business with low debt protects local enterprises from national economic turmoil and Washington's debt crisis, with the Chamber reporting that Florida has the nation's lowest state debt per capita at less than $1,000 per resident. By comparison, New York carries more than $6,500 in state debt per resident.
However, a recent Bloomberg analysis found that U.S. Bureau of Economic Analysis data indicates the combined cost of living in the Miami, Fort Lauderdale and Palm Beach region — dubbed the "Gold Coast" — is roughly 5% higher than in the New York metropolitan area and its surrounding suburbs.
"We're taking a deep dive into that [report], that actually doesn't compare New York to Florida, it compares Miami to New York City," Wilson responded. "And what we're looking at is not just the cost of living, but there are things like crime. Miami is now one of the safest places in America… It's safe to walk the streets at night. Sometimes there's no price tag you can put on some of these amenities Florida has."
"The leadership in the Miami area, I've spoken to them and we're in partnership that over the next several years, we're going to continue to do things like an improve an already awesome education system, and make sure that we have the affordable workforce housing solutions so that more and more people can live the American dream right here in Florida," he continued.
Wilson also discussed high-profile billionaires and major corporations relocating to the Sunshine State, responding to critics who argue the influx has driven up housing costs and inflation for working-class families.
"They're looking for places where they're welcomed," he said. "What's interesting is a lot of billionaires are relocating to Florida, but they're also investing in Florida businesses… There's no question that when a lot of wealth moves into an area, it can increase the cost of living in an area. There's no question that that's true… But it also brings with it an overwhelming value proposition of more wealth, more jobs, more businesses."
"I would hate to be New York, Illinois or California where the billionaires are leaving, the millionaires are leaving, the middle class is leaving. And there's no one left to pay the taxes."
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Wilson and the Chamber are confident Florida can reach the world's top 10 economies by the end of the decade. The Florida 2030 Blueprint outlines a 10-year strategic plan targeting fiscal, workforce and civic goals, with a focus on life sciences, defense, ag-tech, commercial space, logistics and cybersecurity.
"It's like a military operation where we have all the branches, from education to infrastructure, to taxes, to regulation, to litigation — we all realize that we have a country to save," the Chamber CEO said. "If we're better than other states in certain metrics, then those states can up their game. If some states have found some things that Florida can learn from, then we'll learn from them, and that's gonna make America better."
https://www.foxbusiness.com/economy/florida-stock-rising-how-became-worlds-14th-largest-economy-blue-states-continue-death-spiralZuckerberg says AI should empower people, not replace them, in new Meta visionMark Zuckerberg says Meta's AI vision is about empowering people, not replacing them, pushing back against dystopian narratives about the technology.
Meta CEO Mark Zuckerberg unveiled the company's latest vision for artificial intelligence Wednesday, arguing the technology should empower people rather than replace them.
The social media giant released a new video outlining its approach to AI, contrasting it with what it described as a growing "fear" or "dystopian" narrative surrounding the rapidly evolving technology.
The announcement comes as major technology companies race to shape the future of artificial intelligence, with Meta positioning itself as a company that believes AI should benefit everyone.
"Meta has always believed in giving people the power to share, connect, and shape your world in the ways you want," Zuckerberg said.
"As we enter this next wave with AI, we continue to believe the future is for everyone," he continued. "We're focused on giving every person the tools to reach your full potential and making sure the benefits of technology are distributed to everyone."
In the video, Meta pushed back on concerns that artificial intelligence will make people less connected or leave them behind.
"Some people will have you believe AI will make us less connected, that it's gonna leave us behind," the video says. "We couldn't disagree more. Call us optimists, call us dreamers. Just as we've always done, we're betting on people."
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Meta said it has connected more than 3.5 billion people and 200 million small businesses across its platforms during its 22-year history.
The company argued AI is simply the next chapter of that mission.
"Because while technology will change, our intention behind it never will," the video says. "The future we see is one with less barriers and more breakthroughs. More tools designed to unlock your imagination. Bigger engines to drive your ingenuity."
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Meta said advances in artificial intelligence will help build stronger communities and create more meaningful connections.
"We like those odds," the company said. "The future is for everyone."
https://www.foxbusiness.com/technology/meta-ai-vision-empower-people-mark-zuckerbergJaguar Land Rover recalls more than 15,000 vehicles over visibility-limiting defectMore than 15,000 Land Rover vehicles were recalled by Jaguar over a rearview camera defect due to insufficient drain holes that may cause water damage.
Jaguar Land Rover is recalling more than 15,000 vehicles over an issue that could affect the rearview camera, which could limit the driver's rear visibility while reversing, according to federal regulators.
A total of 15,535 vehicles are potentially affected by the recall, covering 2021-2025 Land Rover Discovery models, the National Highway Traffic Safety Administration (NHTSA) said in its recall notice.
The NHTSA said that "insufficient drain holes" could prevent water from draining properly, damaging the rearview camera and increasing the risk of a crash.
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"Water may not be able to drain away from the rearview camera due to insufficient drain holes, which may result in damage to the rearview camera," the agency said.
"A water-damaged camera may not display an image, or may display an unclear image, when requested to do so," the notice reads.
Jaguar Land Rover has received 100 U.S. claims and field reports related to the issue. No related crashes, injuries or fires have been reported.
Car owners are instructed to take their vehicles to a dealership for inspection, where the camera will be replaced at no cost if necessary.
Dealers will also drill additional drain holes in the underside of the tailgate trim.
BMW RECALLS NEARLY 30K VEHICLES OVER ENGINE STARTER DEFECT THAT COULD CAUSE FIRE
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Owner notification letters are expected to be mailed on or before September 11.
https://www.foxbusiness.com/economy/jaguar-land-rover-recalls-more-than-15000-vehicles-over-visibility-limiting-defectDisney reportedly lays off hundreds of employees, Pixar hit hard despite blockbuster successPixar absorbed the largest share of Disney's latest layoffs as ESPN, National Geographic and other entertainment divisions also faced significant workforce reductions.
Disney laid off several hundred employees Tuesday morning across multiple divisions, with Pixar absorbing the largest share of the cuts.
At least 116 employees were laid off at Pixar's Emeryville, California, headquarters, according to TheWrap, citing sources. Disney Entertainment Television, Disney Studios and ESPN were also affected by the latest round of workforce reductions.
The layoffs came as Pixar’s newly released "Toy Story 5" dominated the global box office, grossing about $962 million worldwide and putting the film on track to surpass the $1 billion mark.
The cuts also mark Pixar's largest round of layoffs in the last two years, despite "Inside Out 2" becoming the highest-grossing animated film of all time with $1.69 billion worldwide in 2024.
DISNEY LAYS OFF 1,000 EMPLOYEES ACROSS TV AND FILM UNDER NEW CEO
Within Disney Entertainment, National Geographic is expected to be among the hardest-hit brands, according to the report.
ESPN also cut several high-profile on-air personalities, including Karl Ravech, a longtime SportsCenter anchor and Baseball Tonight host who has been with the network since 1993, The Hollywood Reporter reported.
Ryan Clark, a former NFL player who has served as an ESPN football analyst for more than a decade, was also named.
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ESPN Chairman Jimmy Pitaro told staff in a memo Tuesday morning that the company made the decision after an extensive evaluation of its teams and organizational structure.
"Over the past several months, we’ve made significant progress integrating the NFL assets that we acquired into ESPN. Throughout this process, we have taken the time to carefully evaluate our collective teams, resources and organizational structure to best position us for the future. As a result, we had to make some difficult decisions about job impacts that we will be communicating today," Pitaro said, according to The Hollywood Reporter.
The cuts may have been triggered in part by the underperformance of "Hopper," Pixar's original film that launched earlier this year, sources told TheWrap.
The movie reportedly finished slightly below breaking even under Hollywood accounting standards.
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Pixar’s "Elio" also struggled at the box office, earning about $154 million worldwide in 2025 against a reported production budget of $200 million. It marked the studio’s lowest-grossing film since the COVID-impacted "Onward."
The latest round of layoffs marks the third wave of job cuts to hit the media giant this year.
In April, Disney laid off roughly 1,000 employees across its television and film divisions under newly appointed CEO Josh D’Amaro.
The executive cited the need to "streamline" operations amid the "fast-moving pace" of change across the entertainment industry.
In January, Disney reportedly consolidated its marketing departments under Chief Brand Officer Asad Ayaz, leading to additional cuts in those areas, according to The Hollywood Reporter.
https://www.foxbusiness.com/economy/disney-lays-hundreds-employees-pixar-hit-hard-despite-blockbuster-successTesla touts 380,000 unsupervised robotaxi miles with ‘zero notable incidents’Tesla’s AI chief said the electric vehicle maker’s expanding robotaxi fleet logged more than 380,000 unsupervised miles with “zero notable incidents."
Tesla said Wednesday that its robotaxi fleet has logged more than 380,000 unsupervised miles across six cities in two states without what the company described as a "notable" safety incident.
Ashok Elluswamy, Tesla’s vice president of AI software, highlighted the fleet’s safety record during the electric vehicle maker’s second-quarter earnings call, telling investors it had recorded "zero notable incidents."
Any reported incidents involved "other actors impacting us when we were stationary," Elluswamy said.
"I'd like to emphasize how safe the operation has been so far," Elluswamy said. "Zero notable incidents over 380,000 miles."
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Elluswamy said the results support Tesla’s camera-based approach to autonomous driving.
"Historically, the so-called experts have always claimed that you need lidars, radars, HD maps and the entire kitchen sink to drive safely," he said. "Here, we show that such is not true. You can have safe, comfortable and affordable autonomy with just cameras."
Tesla said mileage traveled by its unsupervised robotaxi fleet has grown at a double-digit weekly rate for months.
"We have grown at such a high compounding rate on a week-over-week basis over the last several months," Elluswamy said. "Not only that, we expect to continue growing at such a large rate through the rest of this year."
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The remarks came one day after Tesla expanded its robotaxi service to Orlando and Tampa, according to Reuters.
Tesla launched the service in Austin in June 2025, initially placing safety monitors inside the vehicles.
It later began offering fully unsupervised rides in Austin and expanded the service to Dallas, Houston and Miami, Reuters reported.
Unlike Waymo, which uses "light detection and ranging" or "lidar" sensors, Tesla relies mainly on cameras and AI software, according to the outlet.
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"We expect that the time to launch to a new city will continue to trend towards zero, towards an end where we operate in entire states as a whole, instead of going city by city," Elluswamy added.
Tesla could not immediately be reached by FOX Business for comment.
Reuters contributed to this report.
https://www.foxbusiness.com/markets/tesla-touts-380000-unsupervised-robotaxi-miles-zero-notable-incidentsTarget, Kroger, Meijer fruit purée pouches recalled over plastic risk: FDAPT Organics recalled select Pumpkin Tree fruit purée pouches sold at Target, Kroger and Meijer over possible plastic risk.
PT Organics Limited is voluntarily recalling select Pumpkin Tree Peter Rabbit Organics Banana & Strawberry fruit purée pouches sold at Target, Kroger and Meijer stores nationwide because of a packaging defect that may result in strands of soft, food-grade plastic in some pouches.
The Food and Drug Administration (FDA) published the recall Tuesday.
The affected 4-ounce (113-gram) fruit purée pouches were sold between March 6 and July 13, according to the Lake Oswego, Oregon-based company.
No injuries have been reported, and no other Pumpkin Tree products, flavors or best-by dates are affected, PT Organics said.
FORD RECALLS NEARLY 388,000 VEHICLES OVER SECOND-ROW SEAT INJURY HAZARD
PT Organics said it initiated the recall after its packaging supplier recalled a production run of defective pouches last week.
The company said inspections of finished products confirmed that some pouches contained a strand of soft, food-grade plastic attached to the inside of the packaging.
The issue was linked to the pouch packaging itself rather than the fruit purée, according to the company.
Consumers can identify the recalled products by checking for barcode 8 15367 01078 0, a lane number of 4 printed on the rear right-hand side seam and best-by dates of Jan. 19, 2027; Jan. 20, 2027; March 17, 2027; March 18, 2027; May 14, 2027; or May 15, 2027.
The barcode, lane number and best-by date are stamped in black ink on the back of each pouch, according to the company.
Consumers who have the recalled product should not eat it or feed it to another person.
Instead, the company said customers should dispose of the affected pouches or return them to the place of purchase for a refund.
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Consumers with questions can visit Pumpkin Tree's website or contact the company's consumer support line at 888-566-2363, 8 a.m. to 5 p.m. ET, Monday through Friday.
https://www.foxbusiness.com/lifestyle/target-kroger-meijer-fruit-puree-pouches-recalled-over-plastic-risk-fdaLARRY KUDLOW: Call it swag, swagger, rizz, aura, or just plain messaging, the GOP doesn’t have itWhatever these definitions, the Republican party appears to have lost its mojo
According to Google, a definition for swag is "Short for "swagger," describing someone with a cool, confident, and fashionable demeanor. If someone says you "have swag," it means your personal style and attitude are on point." Or you can go to Webster’s and their definition of swag is "bold or brash self-confidence."
Whatever these definitions, the Republican party doesn’t have any right now. No swag. They’ve lost their mojo. We’re not draining the swamp by getting rid of all the fraudulent and corrupt spending left by President Biden’s big government socialism.
And we’re not helping middle-class folks so they won’t have to pay taxes on Joe Biden’s inflation. There’s no growth from the GOP. And no swamp draining.
Nowadays the young people talk about rizz and aura. Google’s definition of rizz, which is short for charisma, is "having a smooth, confident, and magnetic personality." And the definition for aura is "a person’s coolness, star power, or suave swagger." As usual the young people have it right, and whatever their total meaning, the Republican party doesn’t have that either.
While the President is fighting a war to end the nuclear threats to freedom and civilization from radical Islam, the Republicans and the House and Senate are doing him and the GOP midterm election outlook no favors. They are bungling budget policy.
They are bungling the affordability issue. They are bungling the growth issue. They are concocting weird inside the beltway word-salad reasons why they’re not getting anything done that will actually help make life easier for hardworking taxpayers.
Inflation indexing capital gains or raising the exemption for gains on the sale of homes should be easy. Curbing hundreds and hundreds of billions of waste, fraud, and corruption should be easy. Then you put in the funding for voter ID, the Save America bill, and the military supplemental for Iran.
There’s nothing hard about this. But the GOP leadership is letting everyone down. Whether it’s swag, swagger, rizz, aura, or how about just plain messaging. The GOP doesn’t have any of it.
https://www.foxbusiness.com/politics/larry-kudlow-call-swag-swagger-rizz-aura-just-plain-messaging-gop-doesnt-haveThese American cities are trending toward a buyer's marketNine metro areas, including Atlanta, Houston, and San Antonio are emerging as buyer's markets with rising inventory and growing seller concessions.
Americans in the market for buying a new home are seeing the markets in some parts of the country turn in their favor after years of seller's markets prevailing.
Realtor.com on Tuesday released the second-quarter edition of its market clock report, which analyzes national and metro-level housing conditions based on factors like months of supply, time on the market, price fluctuations and list-to-sale ratio.
Of the 100 metro areas included in the analysis, it found there are 19 metro areas that are in buyer's market territory and nine trending toward that may join those ranks by the end of the third quarter.
The nine metro areas that are emerging as buyer's markets are spread around the country and include Atlanta; Bakersfield, California; Birmingham, Alabama; Honolulu; Houston; Memphis; Riverside, California; San Antonio; and Syracuse, New York.
THE UNTAPPED OPPORTUNITY THAT COULD HELP CLOSE AMERICA'S HOUSING SHORTAGE
That geographic diversity stands in stark contrast to the list of the 19 metro areas currently in a buyer's market, 18 of which were located in the South, with Colorado Springs, Colorado, the lone exception.
Here's a look at what's driving the improving conditions for would-be homebuyers in five of the nine emerging buyer's markets identified in Realtor.com's report:
"Our inventory has been building, homes are sitting on the market longer and sellers are becoming more willing to negotiate on price, closing cost and mortgage rate buy-downs," said LeAnne Weathers, a realty agent with eXp in Atlanta, adding that buyers have "more choices and less pressure" in this environment.
"The biggest local factors driving that shift are increased housing supply, higher mortgage rates — keeping some of the buyers on the sidelines — and a more balanced market overall."
STARTER HOME AFFORDABILITY IS CRAWLING BACK. THESE REGIONS ARE BEST FOR FIRST-TIME BUYERS
Daniel Beer, an eXp realty agent in Riverside, said in the Southern California community's markets, "buyers have the most leverage with condos. Inventory levels for condos are significantly higher than single-family homes and continue to grow."
"Skyrocketing HOA fees due to government regulations and other factors contributing to increased operating costs are pushing more owners to sell, giving buyers a lot of choice," Beer added.
"Buyers in our market have had less competition in the past six months, which is allowing for more contracts to be accepted with home inspection contingencies," said Ben Gray, an eXp realty agent in Syracuse.
"Many buyers are expanding their search criteria to include homes further out from the metro area, going as far as 45 to 50 minutes to get offers accepted," Gray said.
THE OVERLOOKED OBSTACLE KEEPING AMERICA FROM BUILDING THE HOMES IT NEEDS
Thao Nguyen, an eXp realty agent in Houston, said "buyers finally have options again" in the metroplex, noting data from the Houston Association of Realtors showed that single-family inventory has risen to 5.2 months.
"That means buyers have more time to compare homes, conduct inspections and negotiate instead of feeling pressured into bidding wars. As a listing agent, I'm also seeing more sellers willing to contribute toward closing costs or mortgage rate buy-downs to get deals across the finish line," Nguyen added.
"New construction is where buyers have the strongest negotiating position. Builders are aggressively offering interest rate buydowns, covering closing costs and providing additional incentives that many resale sellers simply can't match," said Rommy Deais, an eXp realty agent in San Antonio.
Mario Victorica, also a realty agent with eXp in San Antonio, said the area is "already seeing longer days on market, more price reductions and increased seller flexibility."
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"Unless mortgage rates decline significantly and bring a surge of buyers back into the market, those conditions should continue to favor buyers over the next few months," Victorica added.
https://www.foxbusiness.com/economy/american-cities-trending-toward-buyers-market