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Stephen Curry says his Li-Ning signature shoe will debut early next yearGolden State Warrior superstar Stephen Curry announced in June he was signing a long-term partnership with Chinese brand Li-Ning.{}
Netflix content chief Bela Bajaria defines event strategy as streamer eyes more live sportsBajaria said Netflix would be open to a package of international NFL games if one becomes available when the league renegotiates its media rights agreements.{}
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NASCAR CEO Steve O’Donnell talks growth opportunities, possible international expansionCEO Steve O’Donnell said NASCAR's media strategy and the upcoming film "Days of Thunder 2" will help raise brand awareness and broaden its fan base.{}
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Flyers are happier with U.S. airports, despite near record travel levels, J.D. Power report showsTravelers gave higher ratings in part because of the newer gates and terminals many airports have opened in recent years, according to the study.{}
Ford increases V-8 engine availability, lowers performance prices for 2027 F-150 trucksFord said the changes are meant to provide customers with more choice and help expand sales of key models, a strategy CEO Jim Farley has touted.{}
Nike co-founder Phil Knight to donate $1.1 billion to Oregon medical centerThe gift to Providence St. Vincent Medical Center will support the creation of an all-women’s hospital as well as advance cardiovascular care across Oregon.{}
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Warren Buffett steps down as chairman of Berkshire Hathaway
Legendary investor Warren Buffett is stepping down as chairman of Berkshire Hathaway, the company said on Friday.
"Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted," Buffett said in a letter to shareholders. "Father Time always wins. He has, however, been generous with me. He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead."
Buffett's son, Howard Buffett, will take over, effective immediately.
This is a breaking news story. Please check back for updates.
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Toys R Us makes major comeback with 120 new stores opening across US this holiday seasonYears after its 2017 bankruptcy and store closures, Toys R Us is making its biggest U.S. comeback yet with 160 standalone stores this holiday season.
Toys R Us is launching its biggest U.S. expansion in years, with 120 new standalone stores set to open in time for the holiday shopping season.
The retailer announced Thursday that it will open the new standalone stores across the U.S. this holiday season through a partnership with Go! Retail Group, bringing its total number of standalone U.S. stores to 160.
The rollout marks a major step in the brand’s yearslong effort to rebuild its brick-and-mortar presence since its 2017 bankruptcy and the closure of its U.S. stores the following year.
The company did not provide a full list of the new locations, their opening dates or store sizes in its announcement. It also did not specify whether all 120 stores will remain open after the holiday season.
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The new stores will stock toys, collectibles and gifts tied to major brands and entertainment properties, including LEGO, Barbie, Hot Wheels, Pokémon and "KPop Demon Hunters," the company said. Select locations will also feature candy shops, cafés and Creator Studios, where influencers and toy companies can create content and host product launches.
"This is a major moment for Toys ‘R’ Us as we significantly expand our presence across the United States," Jamie Uitdenhowen, executive vice president of Toys R Us at parent company WHP Global, said in a statement.
Uitdenhowen said the company is attempting to reach shoppers through several formats, including standalone stores, Toys R Us shops inside Macy’s, airport locations and Navy Exchanges.
Go! Retail Group CEO Gideon Schlessinger said the companies expect the 160 standalone stores to bring the Toys R Us shopping experience to millions of customers during the holidays.
The announcement accelerates a yearslong effort to revive a retailer that was once a fixture of American childhood.
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Toys R Us filed for Chapter 11 bankruptcy protection in 2017 after years of declining sales and under the weight of $5 billion in debt. The company shuttered its remaining U.S. stores in 2018 before reemerging under new parent company Tru Kids Brands the following year.
The retailer attempted an initial brick-and-mortar return in late 2019 with smaller-format stores in Paramus, New Jersey, and Houston, Texas. Both locations closed in January 2021 amid the COVID-19 pandemic.
WHP Global acquired a controlling stake in Toys R Us in March 2021 and opened a 20,000-square-foot flagship at the American Dream complex in New Jersey later that year.
The comeback gained more ground in 2022 when hundreds of Toys R Us shops opened inside Macy’s stores nationwide. Macy’s said at the time that its first-quarter toy sales were 15 times higher than during the comparable period before the partnership.
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WHP Global then partnered with Go! Retail Group in 2023 to roll out more U.S. flagship stores under an expansion strategy dubbed "air, land and sea." The effort pushed the brand beyond traditional malls and included its first airport store at Dallas Fort Worth International Airport.
Toys R Us is now expanding that travel footprint in Florida. One shop-in-shop opened at Orlando International Airport in August through a partnership with WHSmith North America, and another is scheduled to open in summer 2027.
The company also operates locations through the Navy Exchange Service Command, which serves members of the military and their families.
Toys R Us said its global business generates more than $2 billion in annual retail sales through more than 1,680 stores and e-commerce operations in 37 countries.
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National Cheeseburger Day 2026: Burger deals at McDonald's, Wendy's and othersBurger lovers can score free and discounted cheeseburgers at major chains, including McDonald's, Burger King, Wendy's, Five Guys, Carl's Jr. and Shake Shack.
Americans celebrating National Cheeseburger Day Friday can score free and discounted burgers at major restaurant chains, including McDonald's, Burger King, Wendy's, Five Guys and others.
Most of the deals are available through restaurant loyalty programs or mobile apps, and several require a minimum purchase.
Members of the MyMcDonald's Rewards program can get a free Double Cheeseburger on Friday with a minimum $1 purchase through the McDonald's app.
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"Since burgers are kind of our thing, we’d love for fans to come in and grab their favorite McDonald’s drink, snack or meal and add a Double Cheeseburger to celebrate the holiday with us," a spokesperson for McDonald's told FOX Business.
"And for fans who are looking for burger deals outside of the holiday, they can check out the McDonald’s App for deals every week."
Burger King is celebrating the holiday with a week of Royal Perks offers. On National Cheeseburger Day, loyalty members can receive a free Bacon Cheeseburger with a $3 minimum purchase through the Burger King app, according to USA Today.
The promotion is part of a weeklong lineup that also includes a free four-piece Chicken Nuggets with a $3 purchase on Sept. 19 and a free Original Chicken Sandwich with a $3 purchase on Sept. 20.
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At participating locations, Buffalo Wild Wings customers can get a free cheeseburger with the purchase of another regularly priced cheeseburger, "Today" reported.
The one-time offer can't be combined with other discounts and excludes lunch combos and kids' menu burgers, according to the chain.
Wendy's Rewards members can add a Dave's Single Cheeseburger for $1.99 with any purchase through the chain's app or website at participating U.S. locations, USA Today reported.
Red Robin is giving away 400 digital gift cards to celebrate the holiday. Customers can enter by commenting on the restaurant's Sept. 18 post on Instagram or Facebook, as noted on its website.
Five Guys is offering a buy one, get one free burger of equal or lesser value through Friday, according to USA Today.
Customers must order online or through the Five Guys app and use the promo code "BOGOBURGER" at checkout. The offer is not valid for in-store purchases.
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Carl's Jr. Rewards members can get any burger for half price with the purchase of any Hand-Scooped Ice-Cream Shake on Friday through the chain's app, according to USA Today.
"It’s national cheeseburger day and I love cheeseburgers and shakes," the chain said in an Instagram post. "Go take advantage of my generosity."
Shake Shack customers can get a $5 single ShackBurger or single Cheeseburger with any purchase by using the code "BURGERDAY" in the Shake Shack app on the company's website or at in-store kiosks, according to USA Today.
For National Cheeseburger Day, 7-Eleven is offering a $6 meal deal that includes a 20-ounce Coke or Pepsi and a choice of an Angus Double Cheeseburger, Chicken Sandwich or Philly Cheesesteak, according to USA Today.
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Buffalo Wild Wings, Wendy's, Burger King, Five Guys, Carl's Jr., 7-Eleven and Shake Shack could not immediately be reached by FOX Business for comment.
https://www.foxbusiness.com/lifestyle/national-cheeseburger-day-2026-burger-deals-mcdonalds-wendys-moreMajor airlines cut flights as higher jet fuel prices hit carriersExecutives at American, United and Southwest said higher fuel costs are squeezing airlines, though resilient travel demand has helped offset some of the pressure.
Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules.
The global average jet fuel price rose 6.1% week over week to $181.46 per barrel last week, according to the International Air Transport Association (IATA).
Speaking at Morgan Stanley's 14th Annual Laguna Conference, American Airlines Chief Financial Officer Devon May said fourth-quarter jet fuel prices are running about $1 per gallon above what the airline projected in July, adding roughly $1 billion to its fuel bill.
"Overall for the third quarter, we feel great," May said. "What's happened in the last four weeks, though is fuel's run up probably $1 a gallon or something like that for the fourth quarter alone."
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May said American will continue adjusting capacity later in the fourth quarter in response to higher fuel costs.
American Airlines CEO Robert Isom said the airline still expects third-quarter revenue to rise 16% to 19% from a year earlier, citing strength across domestic and international markets as well as both premium and economy cabins, according to Reuters.
"When you take into account fuel right now, yes, we've absolutely done a great job of recapturing a tremendous amount of that expense," Isom said.
United Airlines Chief Financial Officer Michael Leskinen said some flights planned for December will no longer operate because of higher fuel prices.
"As you look into the fourth quarter, there'll be some flights in December that we won't fly that we thought we were going to fly," he said at the Morgan Stanley conference. "If fuel remains high, we'll make some adjustments into the first quarter and beyond into 2027."
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Leskinen also described United's fourth-quarter bookings as "tremendously strong," saying premium travel, corporate demand and economy bookings have all remained resilient.
"Bookings have continued as we expected, so that piece of the equation is resilient — very little evidence of demand destruction," Leskinen said.
At the conference, Southwest Airlines Chief Financial Officer Tom Doxey said the carrier has already pared back about half of the modest year-over-year capacity growth it had planned at the start of 2026.
"If fuel is higher for longer," Doxey said, trimming capacity would be the "natural response."
However, a spokesperson for the airline told FOX Business the schedule adjustments made so far have been minimal and that Doxey was making an "illustrative point" about trimming capacity and was "not alluding to an action we've taken."
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Doxey added that stronger-than-expected fall bookings have helped offset higher fuel costs, allowing Southwest to maintain its third-quarter earnings guidance, according to Reuters.
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Spokespersons for American Airlines and United Airlines told FOX Business the carriers had nothing further to add.
Reuters contributed to this report.
https://www.foxbusiness.com/markets/major-airlines-cut-flights-higher-jet-fuel-prices-hit-carriersOpenAI targets work of Wall Street junior bankers with new ChatGPT for Financial ServicesOpenAI launched ChatGPT for Financial Services, targeting the labor-intensive research, modeling and pitchbook tasks traditionally handled by junior bankers.{}
Wealthy investors are pouring billions into this new tax strategy despite risksTotal assets invested in so-called tax-aware long-short strategies — or TALS — have surged to more than $170 billion, according to Tax Alpha Insider.{}
Tech power players land seat at table for high-stakes dinner with Trump, XiSam Altman, Jensen Huang and Tim Cook are expected at Donald Trump's state dinner for Xi Jinping amid fierce U.S.-China competition over AI and chips.
President Donald Trump is planning to hold a state dinner next week to mark a visit by Chinese President Xi Jinping, and several tech industry leaders are expected to attend.
OpenAI CEO Sam Altman and Apple Executive Chairman Tim Cook are both reportedly planning to attend the state dinner.
Nvidia CEO Jensen Huang is also expected to attend the event, a person familiar with the matter told FOX Business.
The tech leaders' anticipated attendance at the Trump-Xi state dinner comes at a time of geopolitical tensions, including over the development of artificial intelligence (AI) and access to both models and the chips that power them.
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The U.S. and China are locked in a competition in which the two world powers are racing to develop more capable AI tools, which have been a source of tension between the countries.
China's access to specialized chips that power advanced AI models has been restricted through the U.S. government's use of export controls on advanced semiconductors, like those made by Nvidia.
Huang has been critical of those restrictions and said in May that China has "all the chips they need" despite the U.S. restrictions.
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American companies like OpenAI and Anthropic have relied on using frontier models, which are proprietary and not available for use without purchasing a license, to gain their edge in the AI race. Chinese tech companies have used distillation as a means of using open-weight models to keep up with U.S. firms' frontier models.
Altman and other tech leaders have recently been discussing steps to rein in AI development to ensure the safety and alignment of those models amid concerns about their potential impact on humanity.
"It is the responsibility of the AI companies ourselves to develop the technology safely and to properly test it," Huang told reporters. "If it's not ready, just hold it back. You should go as fast as you can, but no faster than that."
State dinners are among the highest diplomatic honors a U.S. president can bestow on a foreign leader.
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Next week's state dinner comes after Xi hosted a state dinner for Trump when he visited China in May. That event was also attended by Elon Musk, Huang and Cook – who was still CEO at the time and has recently transitioned into an executive chairman role at Apple.
The Trump-Xi state dinner will be the second hosted by Trump during his second term, as the first was held during a visit by Britain's King Charles and Queen Camilla.
During his first term, he hosted state dinners for French President Emmanuel Macron in 2018 and Australian Prime Minister Scott Morrison in 2019.
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Reuters contributed to this report.
https://www.foxbusiness.com/markets/tech-power-players-land-seat-table-high-stakes-dinner-trump-xiDSA platform could cost up to $212T over a decade, analysis findsThe Democratic Socialists of America platform could cost up to $212 trillion over a decade, a Cato Institute analysis of DSA policies estimates.
The policy agenda of the Democratic Socialists of America (DSA) would cost between $71 trillion and $212 trillion in fresh spending over a decade, according to a new analysis.
The progressive wing of the Democratic Party has had electoral success recently, with some candidates backed by the DSA advancing in primaries in the wake of Zohran Mamdani's election as mayor of New York City.
Angie Nixon, a DSA member in Florida, won the Democratic nomination for the U.S. Senate. Progressives who have touted similar policies as those in the DSA platform have also found recent success in Democratic primaries for U.S. Senate races, with Abdul El-Sayed winning in Michigan and Peggy Flanagan prevailing in Minnesota.
Adam Michel, the director of tax policy studies at the Cato Institute, wrote in the New York Post that the "DSA promises a world of plenty, paid for by somebody else. Simple math says otherwise."
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Michel analyzed the DSA platform and found that while the platform is "thin on details," he was able to estimate the spending policies would total between $71 trillion and $212 trillion in new spending over the next decade.
He noted that, at the high end of that estimate, the total government spending would reach as high as 92% of U.S. economic output.
"The socialists claim their plan will do away with rent. They'll make healthcare free and forgive student loans. Their system will provide utilities, college and food at no cost to the consumer," Michel wrote.
"However, making something free at the point of use simply shifts the cost somewhere else, in this case, to taxpayers."
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Michel said universal healthcare could cost $40 trillion to $70 trillion over the course of a decade as reforms modeled off a Medicare-for-all-like healthcare system would see the government take on costs like paying for doctors and nurses as well as operating medical facilities.
Another plank in the DSA platform, a federal jobs guarantee, would cost up to $60 trillion to cover the wages of millions of American workers over a decade, according to Michel, who added that the elimination of rent or mortgages as part of a housing guarantee would cost trillions.
"Washington is currently projected to collect about $70 trillion in federal taxes over the next 10 years. To cover the costs of all those additional services, the DSA agenda requires roughly doubling federal revenue at the low end and quadrupling it at the high end," Michel wrote.
The DSA platform calls for enacting "aggressive wealth taxes on the richest individuals and corporations to spend on public goods and infrastructure."
He said that while advocates of those spending plans claim that they will be able to use higher taxes on wealthy Americans and corporations to pay for them, they would likely come up short.
The 400 wealthiest billionaires in America were worth an estimated $6.6 trillion last year, according to a Forbes analysis, which Michel noted would be insufficient to cover the DSA agenda.
"Imagine Washington could confiscate every dollar of that — liquidate their businesses, sell their homes, strip off their jewelry. All that covers less than one year of the low-end cost of the DSA's platform – or not quite four months of it at the high end," he wrote.
Taxing every dollar of corporate profits at 100% would fund between half and one-fifth of the DSA agenda, according to Michel, while hiking income taxes on high-income earners would cover less than 1% of those spending plans.
"Add it all together — confiscate the wealth of the richest Americans, seize every dollar of corporate profit and maximize top income-tax rates — and the DSA is still between $29 trillion and $169 trillion short of covering the cost of its promises," Michel wrote.
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He added that only "one tax base is large enough to fill a gap tens of trillions of dollars wide: the middle class," noting that the European middle class has a significantly higher tax burden than its American counterpart to finance those countries' social welfare programs.
https://www.foxbusiness.com/politics/dsa-platform-could-cost-up-212t-over-decade-analysis-findsRecord U.S. cyclosporiasis outbreak is over, CDC saysThe largest outbreak, linked to shredded iceberg lettuce from Taylor Farms, sickened more than 12,000 people.{}
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Paramount mum, but LA officials on notice as rumors of move from California to Nashville swirlLA Mayor Karen Bass and Attorney General Rob Bonta were reportedly told Paramount's Hollywood exit announcement was imminent as Nashville scouting ramps up.
While Paramount has yet to announce its official departure from Hollywood, Los Angeles officials are on high alert after Los Angeles Mayor Karen Bass and Attorney General Rob Bonta were told an exit announcement was imminent.
While TMZ reported that the statement was expected Tuesday, no announcement has been made. Meanwhile, Paramount Skydance officials have been spotted in Nashville scouting commercial properties as the studio considers moving some of its operations there, according to insiders with knowledge of the search in a new report.
The studio has already looked at more than 400,000 square feet of potential space in Music City, according to a report by Politico. Other possible relocation options on the table include Texas and Georgia.
Paramount declined to comment on the reports of a possible move when contacted by Fox News Digital.
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"We cannot comment on a company's plans," Bonta's office told Fox News Digital. "It's no secret that Paramount has been making this threat despite its alleged commitment to California and Hollywood. What Paramount decides to do is Paramount's choice alone. We'll continue to apply the law without fear or favor and continue to be open to coming to the table for good faith discussions."
Bonta told MS NOW Thursday that LA officials are still willing to come to the table and negotiate.
"We’ve heard this threat before, and it’s inconsistent with other things that they have said," he said. "If they decide to leave, that’s their independent choice. I’m not asking for it. I don’t want it, obviously, and that responsibility will lay at their feet."
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Bonta was also asked about the possible move Thursday at The Atlantic Festival in New York.
"We will do our job," he said. "We have a job to enforce the law without fear and without favor, and, at the same time, we are always open to come to the table if it is in good faith and it is sincere. And we will always explore an opportunity to get the results that we want with our evaluation of the case at the table."
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In July, Bonta, and 11 other state attorneys general, filed an antitrust lawsuit against Paramount in an attempt to block the proposed Warner Bros. Discovery acquisition. They claimed the merger would eliminate competition in film distribution and basic cable while negatively affecting industry workers and consumers.
For his part, Paramount CEO David Ellison then threatened to move the iconic studio out of the Golden State if Bonta did not back off and a settlement was not reached by Oct. 1.
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Now, it appears increasingly unlikely that a deal can be reached.
Fox News Digital's Brian Flood and Joseph Wulfsohn contributed to this report.
https://www.foxbusiness.com/media/paramount-mum-la-officials-notice-rumors-move-from-california-nashville-swirlCalifornia high-speed rail consultants billed taxpayers for a private plane, tiki bars and cigar loungesA new California inspector general report reveals high-speed rail consultants billed taxpayers for luxury trips, nightclub visits and private aircraft travel.
California High-Speed Rail Authority officials rubber-stamped hundreds of thousands of dollars in travel charges incurred by outside consultants, according to a new report from the state's inspector general.
The lavish spending revelations come as the $126 billion project has become a national symbol of government waste. Sixteen years after voters approved the initiative, not a single mile of track has carried a commercial passenger, and a recent assessment warned the project's funds could dry up entirely by the end of 2027.
The audit, released Tuesday by the California Office of the Inspector General (OIG), revealed that taxpayers footed the bill for private aircraft travel, tiki bar visits, cigar lounges, luxury rideshares and international trips over a two-year period.
"In total, the Authority paid more than $2 million in travel-related costs for consultants at the four consulting firms in fiscal years 2024-25 and 2025-26," the OIG said.
The investigation reviewed travel reimbursements billed by four outside consulting firms over the two-year period. It found that roughly 60%, or $680,500, of the payments it reviewed had not received advanced authorization. Additionally, $543,400 in travel expense payments were found to be "not allowable." In some instances, agency staff didn't even know the trips had taken place until the invoices arrived, frequently approving them with vague justifications like a "typical M-F week."
The audit uncovered a lack of oversight, noting the agency's behavior is "inconsistent with the Authority’s role as the steward of public resources."
Instead of standard business travel, the audit flagged an array of unauthorized luxury expenditures billed to "questionable locations" without prior approval. Financial consulting giant KPMG LLP was specifically identified by the OIG as the firm that billed the authority for rides to a nightclub, a tiki bar and a Washington, D.C., cigar lounge. Taxpayers were also on the hook for an outing to an escape room, a trip to a Denver sushi restaurant and a 25-mile "Uber Comfort" ride to a steakhouse in Folsom, California.
KPMG declined to comment.
The audit of the reimbursements extended to daily routines and premium transit. The agency repeatedly reimbursed ride-hailing trips to Planet Fitness gyms in and around Sacramento, continuing the practice even after a supervisor explicitly put in writing that the state does not cover rideshares to gyms.
One consultant billed taxpayers $40 for a luxury "Uber Black" ride to travel less than a single mile in downtown Sacramento.
When it came to air travel, one consultant bypassed commercial airlines entirely, flying a private aircraft from Washington, D.C., to California. The consultant self-calculated that a "premium" commercial rate would have cost $4,182 each way, and the agency paid it without question.
The billing didn't stop there. One legal consultant billed $40,800 in travel reimbursements, plus $86,500 just for "travel time," making 30 trips between Denver and Sacramento in a single year. Furthermore, the agency paid out $118,000 in international travel expenses, despite the consultants' contracts explicitly barring international trips.
A spokesperson for the California High-Speed Rail Authority said the agency "takes these findings seriously" and has pledged to work collaboratively with the inspector general’s office to rectify the oversight failures.
FOX Business reached out to Nossaman LLP, the AECOM-Fluor Joint Venture and the SYSTRA/TYPSA Joint Venture for comment.
California voters first approved the bullet train initiative in 2008. They were promised a $33 billion state-of-the-art railway that would whisk passengers between Los Angeles and San Francisco by 2020. Following a reassessment this year, the total estimated cost of the project has ballooned to at least $126 billion — nearly quadruple the original price tag. The estimated completion date has also been pushed back decades, with optimistic projections now targeting 2039.
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"More than $600,000 in consultant travel expenses were flagged as questionable, while California families are struggling with the high cost of living and deserve answers and accountability," the chair of the state Senate Transportation Committee, Tony Strickland, R-Huntington Beach, said in response to the findings. "Consultants should expect that when they make an executive decision to travel without authorization, that they’re taking on the expense themselves."
https://www.foxbusiness.com/politics/california-high-speed-rail-consultants-billed-taxpayers-private-plane-tiki-bars-cigar-loungesMacy's posts strong results, raises guidance as turnaround begins to take holdMacy's posted strong fiscal second-quarter results on Thursday and raised its full-year guidance.{}
Ford announces $1 billion investment at Kentucky plant following DOT criticism on ChinaFord Motor on Thursday announced a $1 billion investment to build a new paint shop at its crucial truck plant in Kentucky.{}
Video shows Waymo driverless vehicle stuck in 'AI loop' on flooded Phoenix streetA Waymo vehicle became stuck for more than 10 minutes in Phoenix floodwaters after getting caught in an "AI loop," according to eyewitness video.
A Waymo vehicle struggled to navigate a flooded street in Phoenix this month, becoming stuck for more than 10 minutes in an "AI loop," according to witnesses.
The car was filmed as it hesitantly moved back and forth, at one point almost backing into another car.
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"There were actually two Waymos holding up traffic," said Roger Pelkey, who captured the incident on video. "The one further up finally made it through. This one was stuck in an AI loop and frustrating drivers."
The video shows the vehicle continually moving slightly forward before backing up, as other vehicles with human drivers went around.
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In May, Waymo suspended its driverless taxi operations across multiple cities — including Atlanta, San Antonio, Austin, Houston and Dallas — due to repeated incidents involving floodwaters.
The vehicles encountered severe weather and drove into submerged streets, with some becoming stranded or stuck in floodwaters.
Earlier this month, the company brought its driverless robotaxi service to Denver, San Diego and Tampa, expanding its fully autonomous ride-hailing service to 14 cities.
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FOX Business has reached out to Waymo for comment.
https://www.foxbusiness.com/technology/video-shows-waymo-driverless-vehicle-stuck-ai-loop-flooded-phoenix-streetHome sellers may have to 'take a hit' as rates rise, real estate experts sayThe Federal Reserve rate hike pushed 30-year mortgage rates to 7.14%, and real estate experts warn price reductions and a buyer's market may follow.
American homeowners expecting peak-market valuations are confronting a changing real estate landscape following the Federal Reserve’s latest interest rate decision.
Rising borrowing costs are shrinking the pool of qualified buyers, signaling a potential wave of price reductions for sellers seeking to close deals before year-end, real estate insiders told Fox News Digital.
"Sellers have… very high expectations. And it takes a while for sellers’ expectations to come down. And that's the reality," DaGrosa Capital Partners founder and chairman Joe DaGrosa told Fox News Digital. "With respect to buyers, I think a lot of people are going to have to wait it out. And wait and see a better situation on the mortgage front… [there’s] going to be some pressure. So I think it's going to be tough on buyers and it's going to be tough on sellers."
"Fewer buyers equals fewer opportunities to sell the home, less competitive environment. And so as a result, we're seeing a lot of sellers struggling to sell their homes in a market that otherwise would be a pretty strong market," Bowers Group Vice President at Compass Brett Rubin also said.
"And with that, we're starting to see homes sitting on the market a little bit longer, a lot more price reductions, hesitant buyers kind of sitting on their sidelines. And so this rate hike definitely has implications on both sides of the spectrum."
Federal Reserve policymakers voted 12-0 on Wednesday to raise the target range for the federal funds rate from 3.5%-3.75% to 3.75%-4%. The 25-basis-point increase marked the first interest rate hike since July 2023 and came after the Fed left rates unchanged at its first five meetings this year.
The average rate on a 30-year fixed refinance increased to 7.14% from 6.87% a week earlier, while the average 15-year fixed refinance rate was 6.30% Thursday, according to the Mortgage Research Center.
"The retail market sellers are going to realize that they've probably experienced 40%, 50% appreciation of their property values over the past 8 to 10 years… I think they're going to have to recognize that they're going to take a little bit of a hit if they want to sell," DaGrosa said. "And homebuilder sentiment is at its lowest in the past 12 months. It may get worse before it gets better. So you're seeing a double whammy for homebuilds, which is their cost of building homes has gone up."
"Some folks who need to sell their homes, they're full steam ahead as well, and they're just going to have to weather the storm for better or for worse," Rubin added. "Ultimately, if they need to reduce the price, that might be in the cards for them."
"I can see there being a correlation between, you know, rates increasing and home values decreasing. But I think it needs to be a really consistent increase over an extended period of time to really affect the market in that way," Rubin continued.
Millions of American homeowners remain reluctant to move because they hold mortgage rates below 4%, contributing to the so-called mortgage-rate lock-in effect. Sellers who need to move because of job relocations or life changes can face reluctant buyers and higher borrowing costs, the experts said.
"I think it's going to be a buyer's market in a few months, and if I were a buyer, I'd be in no rush to buy because I think there'll be relief from sellers. But for now, we're going to have a frozen market. I've seen this multiple times over the past 40 years," DaGrosa said.
"We use the term ‘golden handcuffs.’ The folks who have interest rates in the 3%, 4% range, they're not as incentivized to make that move and take on a larger mortgage payment with a higher interest rate. And so they're definitely going to be reconsidering that move if it's not something that's absolutely imperative," Rubin explained. "So while there's some truth to that, in the sense that folks who are comfortable are probably not going to move just because they feel like moving, there's always going to be folks who are buying and selling out of necessity. And unfortunately for those folks, they're going to have to weather the storm, whether they are encouraged by the rate environment or not."
As market inventory sits and seasonal slowdowns compound high interest rates, DaGrosa and Rubin anticipate a leverage shift. Sellers who delay price concessions may find themselves competing for a diminishing pool of qualified buyers, signaling that patient buyers may soon hold the bargaining power in upcoming sales cycles.
"For the average American, my view is there are going to be good deals coming over time," DaGrosa noted.
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"I'm feeling like there will be a slowdown," Rubin admitted. "So while we might not immediately realize what those effects are looking like at the moment, the spring market will certainly be more telling."
"It's the Wild West in real estate, and that's just sort of the norm, unfortunately," he added. "The sooner that folks realize that there is no kind of standard market anymore, the sooner that they're going to realize that this is what it is."
FOX Business’ Eric Revell contributed to this report.
https://www.foxbusiness.com/real-estate/home-sellers-take-hit-rates-rise-real-estate-experts-sayNFL Commissioner Roger Goodell says league could rework TV packages in next media dealThe NFL has an opt-out clause at the end of the 2029-30 season in which it can resell and redistribute its media rights.{}
Home sales fall in August despite the highest supply in over a decadeHome sales slowed again despite the highest supply of homes for sale in over a decade. Prices, however, continue to rise.{}
Kimmel says interview with Senate candidate Talarico won't air on ABC amid FCC threatsABC has come under increased pressure from the FCC, and the Trump administration has raised concerns about equal air time for political candidates.{}
NFL's Roger Goodell is playing the international long game ahead of league's Australia debutGoodell spoke with CNBC Sport ahead of the league's first-ever, regular-season game in Australia this week.{}
Nvidia CEO draws line on AI safety after alarming incidents: 'If it’s not ready, just hold it back'Nvidia CEO Jensen Huang told leaders at a summit convened by King Charles that the AI industry must prioritize safety, while also projecting explosive financial growth.
Nvidia CEO Jensen Huang delivered a dual message of caution and explosive financial optimism at a recent Scottish summit convened by King Charles, urging the artificial intelligence industry to prioritize "good old-fashioned engineering" while forecasting that his company's chip sales will double next year.
While addressing mounting public anxiety over AI risks alongside leaders from Google DeepMind, OpenAI, and Anthropic, Huang made it clear that despite safety hurdles, the global AI gold rush is only accelerating.
When asked about Nvidia's financial horizon amid broader tech scrutiny, the chief executive delivered a massive projection that underscores relentless international demand.
BESSENT SAYS US NEEDS MORE OPEN-SOURCE AI MODELS TO COMPETE WITH CHINA
"I expect Nvidia to sell twice as many chips this next year as we do this year," Huang revealed, attributing the explosive growth to nations aggressively investing in localized AI infrastructure and cloud data centers.
Despite the bullish market outlook, Huang issued a stark directive to tech developers, warning them to keep half-baked products out of the hands of the public.
"It is the responsibility of the AI companies ourselves to develop the technology safely and to properly test it," Huang told reporters. Acknowledging recent industry incidents, he emphasized they serve as a critical wake-up call. "If it's not ready, just hold it back. You should go as fast as you can, but no faster than that."
Huang firmly rejected comparisons between the current AI boom and the largely unchecked rise of social media. He argued that AI is a foundational technology—like a newly developed airplane engine—that requires contained, rigorous testing before release. Rather than entirely new regulatory frameworks, he suggested governments adapt the "incredible number of laws" already governing existing sectors like healthcare and transportation, where AI is being implemented.
Environmental concerns were another major focal point, aligning with the King's mandate that AI must also serve the natural world. Addressing critics who fear massive AI data centers will drain global power grids, Huang acknowledged the "interesting dichotomy" of AI factories requiring immense energy.
However, he argued this relentless demand will actually catalyze a green energy revolution, sparking unprecedented investment in sustainable power options like fusion, fission, air, and hydro.
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"We want to be responsible in advancing the technology. Take responsibility and accountability for whenever there are mishaps," Huang concluded. "But don't lose sight of the ultimate prize, which is the incredible impact that the technology can bring to all the different economies and societies."
https://www.foxbusiness.com/fox-news-tech/nvidia-ceo-jensen-huang-ai-chip-sales-growthTrump calls Canada's potential EU associate membership 'laughable,' warns Europe of 'very heavy tariffs'President Trump called Canada's proposed European Union associate membership "laughable" and threatened heavy tariffs on Europe if made with "bad intention."
President Donald Trump on Wednesday dismissed the prospect of Canada becoming an associate member of the European Union as "laughable," warning that the U.S. could impose heavy tariffs on Europe if he believed such a move was made with "bad intention."
Trump was asked by reporters about the prospect of Canada becoming the EU's first "associate member."
"I think it's laughable," Trump responded. "If they do that, if I think it's at all a hostile act, I will put very serious tariffs or stop trading with Europe on many things."
"If Europe does that with a bad intention – if it's a good intention, that's fine – if it's a bad intention, we'll put very heavy tariffs on Europe," he added.
EU OPENS DOOR TO UNPRECEDENTED 'ASSOCIATE MEMBER' STATUS FOR CANADA AMID US TRADE SPAT
Trump's comments come amid a trade conflict between two of North America's largest trading partners after U.S.-Canada trade talks collapsed last month, triggering a series of tit-for-tat tariff measures.
While speaking to reporters Wednesday, Trump also described Canada as a "terrible trade partner."
His comments came after European Commission President Ursula von der Leyen proposed Wednesday that Canada become the first associate member of the European Union as the two sides pursue a deeper economic and security partnership.
Speaking with Canadian Prime Minister Mark Carney in attendance, von der Leyen said, "I would like to work with you on opening the door for Canada to be the first associate member of the EU."
TRUMP EXPANDS CANADA TRADE FIGHT WITH SWEEPING BAN ON CANADIAN IMPORTS
Von der Leyen said the two sides would move beyond their existing CETA trade agreement toward what she called an "Alliance for the Future," aimed at creating a common prosperity and economic security space. The proposed partnership would include cooperation in manufacturing, technology, defense, energy, critical minerals, artificial intelligence, cybersecurity and the Arctic.
The EU overture comes as Canada looks for new trading opportunities beyond its longtime economic relationship with the U.S.
Carney, who is scheduled to address the European Parliament on Thursday, has pledged to double Canada's non-U.S. trade over the next decade while pursuing what he has called a "unique alliance" with the EU, rather than full membership.
Historically, the EU has balked at flexible alliances without a defined legal status, and any potential associate membership for Canada would ultimately be up to EU member states to decide.
BILLIONAIRE WARNS 'EVIL EMPIRE' WANTS TO 'CRIPPLE TRUMP,' CALLS OUT AMERICA'S NORTHERN NEIGHBOR
Trump's remarks came the same day his administration escalated a separate trade dispute with Canada.
Trump signed a presidential memorandum directing federal officials to identify Canadian-origin products that could be removed or made unavailable for purchase through the federal civilian procurement system.
The White House accused Canada of imposing barriers that disadvantage American companies seeking Canadian government contracts while Canadian businesses retain access to portions of the U.S. federal procurement market. The memorandum specifically cited Canada's "Buy Canadian" policy and restrictions imposed by Canadian provinces.
According to the White House, Canadian companies have access to more than $280 billion annually in U.S. federal procurement covered under the World Trade Organization's Agreement on Government Procurement.
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The Trump administration added that it would take action against what it described as "unreasonable," "discriminatory" and "unfair" trade practices.
FOX Business' Bradford Betz contributed to this report.
https://www.foxbusiness.com/politics/trump-calls-canadas-potential-eu-associate-membership-laughable-warns-europe-very-heavy-tariffsWalmart launches weeklong fall sale overlapping Amazon Prime Big Deal DaysWalmart's seven-day Deals & More event will overlap with Amazon's Prime Big Deal Days and feature discounts of up to 50% across select categories.
Walmart is rolling out a weeklong fall sales event that will overlap with Amazon's Prime Big Deal Days, giving consumers two major discount events during the early holiday shopping season.
The retailer's Deals & More event begins at 12 a.m. ET Oct. 5 and runs through Oct. 11, offering shoppers seven days of discounts across categories including home, tech, toys and Halloween items.
Amazon's "Prime Big Deal Days" are scheduled for Oct. 6-7, meaning the two sales events will overlap for two days.
A Walmart spokesperson told FOX Business that the company scheduled the event to align with customers' shopping habits.
E COLI BLUEBERRY RECALL EXPANDING TO FROZEN MIXED BERRY PACKAGES SOLD AT WALMARTS IN 16 STATES
"We plan our events around how and when our customers want to shop," the spokesperson said. "We know many customers are starting to think about the holidays earlier while also shopping for their everyday and seasonal needs, so we wanted to give them a full week to save in early October."
Ahead of the sale, Walmart has been advertising discounts of up to 50% on home items; 40% on tech; 30% on toys, food and Halloween products; 25% on tools; and 20% on wellness items.
"Heads up — big deals coming!" Walmart states on its website.
WALMART MAKES CHANGES TO HOW MILLIONS OF CUSTOMERS CAN PAY AT CHECKOUT
Unlike Amazon's Prime Big Deal Days, Walmart's sale is expected to be available to all shoppers and does not require a paid membership.
Amazon, meanwhile, said Prime Big Deal Days is an exclusive event for Prime members.
"Looking to get a head start on your holiday shopping? Prime members can start saving now ahead of Prime Big Deal Days 2026, returning October 6-7 with 48 hours of exclusive deals across more than 35 categories," Amazon said in a press release Monday.
WALMART E-COMMERCE SALES SURGE AS CEO TOUTS 'PRICE, SPEED AND CONVENIENCE'
Amazon said Prime members will be able to shop for millions of deals on brands, seasonal items and everyday essentials when the event begins at 12:01 a.m. PDT on Oct. 6, adding that early deals are already available.
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The company also encouraged shoppers who are not already Prime members to sign up or start a free trial to access the sale and other membership benefits.
Amazon told FOX Business it did not have any additional comment beyond the information available on its website.
https://www.foxbusiness.com/retail/walmart-launches-weeklong-fall-sale-overlapping-amazon-prime-big-deal-daysParamount's California future in doubt amid escalating legal fightParamount declined to comment on reports it may leave California, prompting responses from state officials as the company battles a lawsuit over its Warner Bros. Discovery deal.
California officials responded Wednesday to reports that Paramount is preparing to ditch the state, though the company declined to comment, and no official announcement has been made.
Officials inside Los Angeles Mayor Karen Bass’ office and California Attorney General Rob Bonta’s office were told Paramount planned to announce Tuesday that it was leaving the state, sources told TMZ.
The announcement never came, and the outlet said it was unclear whether the company changed course or merely delayed the decision. Separately, Politico is reporting that Paramount is actively looking for office space in Nashville.
Paramount declined to comment when reached by FOX Business.
Bonta's office told FOX Business it could not comment on Paramount's plans but acknowledged that the company has repeatedly threatened to leave California.
"It's no secret that Paramount has been making this threat despite its alleged commitment to California and Hollywood," Bonta's office said in a statement. "What Paramount decides to do is Paramount's choice alone."
NEW PARAMOUNT CEO DAVID ELLISON ISSUES ULTIMATUM TO WORKERS
The attorney general's office said it will continue enforcing the law while remaining open to good-faith negotiations.
Bass' office told FOX Business the mayor remains focused on keeping entertainment jobs in the city.
PARAMOUNT-WARNER BROS DISCOVERY ANTITRUST TRIAL DATE SET; MERGER PUT ON PAUSE OVER LEGAL BATTLE
"Mayor Bass is focused on protecting and fighting for jobs in LA, including critical jobs in the entertainment industry that have been a vital part of Los Angeles’ economy," her office said in a statement. "She’s been engaged on this issue and will continue to fight to make sure LA is home to Hollywood."
The uncertainty comes as Paramount CEO David Ellison battles Bonta and 11 other state attorneys general over the company’s proposed $110 billion acquisition of Warner Bros. Discovery.
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The states sued in July to block the media megadeal, arguing it would reduce competition and give the combined company excessive market power in film distribution and basic cable programming.
Ellison has reportedly threatened to move Paramount to Texas, Tennessee or Georgia if the legal battle is not resolved by Oct. 1. Settlement talks are ongoing. The lawsuit is scheduled to go to trial in March if a settlement is not reached.
https://www.foxbusiness.com/media/paramounts-california-future-doubt-amid-escalating-legal-fightWHO Launches New Global Health Strategy for Childhood Cancer Medications
UNITED NATIONS, September 18 (IPS) - When a child is diagnosed with cancer, their chances of survival should not depend on where they live, yet according to the WHO, more than 80 percent of children with cancer in high-income countries are cured, compared with fewer than 30 percent in many low- and middle-income countries (LMICs).
https://www.globalissues.org/news/2026/09/18/44080 {"url":"https://static.globalissues.org/ips/2026/09/WHO-team-visits_-100x100.jpg"}The Cost of Excluding Refugees
NAIROBI, Kenya, September 18 (IPS) - For the young women I met through Global Give Back Circle’s HER Lab in Kenya, displacement was not the end of ambition. It had interrupted school, separated families from stability, and narrowed the choices available to them. But it had not erased their hopes. What they wanted was not pity. They wanted skills, work, confidence and the chance to rebuild their lives with dignity.
Read the full story, “The Cost of Excluding Refugees”, on globalissues.org →
https://www.globalissues.org/news/2026/09/18/44079 {"url":"https://static.globalissues.org/ips/2026/09/Linda-Latsko-Lockhart-Mar-2024__-100x100.jpg"}Eggs recalled as salmonella outbreak sickens 23 peopleCalifornia health officials are urging consumers to throw away recalled Happy Hens organic eggs after a Salmonella outbreak sickened 23 people and sent seven to the hospital.
California health officials are urging consumers not to eat recalled organic eggs after a salmonella outbreak sickened 23 people and hospitalized seven.
The California Department of Public Health (CDPH) announced last week that the outbreak had been linked to Happy Hens brand organic eggs produced at the company's Ramona, California, farm.
The company voluntarily recalled the eggs on Sept. 8.
"Consumers should throw away recalled eggs or return to (the) place of purchase for a refund. Consumers should contact their healthcare provider if they become sick with symptoms of Salmonella infection within 7 days of eating this product," CDPH said.
POPULAR SO DELICIOUS FROZEN DESSERT RECALLED OVER POSSIBLE STONE CONTAMINATION
As of Sept. 8, the outbreak had sickened 23 California residents, sending seven people to hospitals. No deaths have been reported.
"Because this outbreak is considered ongoing, additional recent illnesses linked to this outbreak may still be identified," CDPH said.
The recalled products include all grades and sizes of Happy Hens organic in-shell eggs with egg handler code CA-0677, as well as the following lot codes and sell-by dates:
FORD RECALLS MORE THAN 223,000 VEHICLES OVER FUEL TANK ISSUE
The eggs were sold in one-dozen and 18-count cartons, 20- and 30-count flats for consumers and 15-dozen food service cases.
The products were distributed to restaurants, grocery stores and farmers markets across Southern California and the Central Coast.
They were also sold directly at the company's Ramona farm, CDPH said.
According to CDPH, investigators identified Happy Hens eggs as the likely source of the outbreak following interviews with people who became ill.
CREAM CHEESE AND DELI SALADS RECALLED OVER POTENTIAL LISTERIA CONTAMINATION
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"Most people recover without medical treatment," CDPH said. "But for some people, the symptoms may be so severe that treatment or hospitalization is needed. Children younger than 5 years of age, adults 65 and older, and people with weakened immune systems are more likely than others to get very sick."
FOX Business reached out to Happy Hens for comment.
https://www.foxbusiness.com/lifestyle/eggs-recalled-salmonella-outbreak-sickens-23-peopleLARRY KUDLOW: Prosperity is as American as apple pieThe economy is in a prosperous position, roughly a year after Trump and the Republicans passed their One, Big, Beautiful Bill
Let’s begin at the beginning. Low taxes, light regulation, abundant energy, and a strong dollar, are the keys to economic prosperity. And prosperity is as American as apple pie. And though nothing is ever perfect, at the moment I would argue, the American economy is in a prosperous position, roughly a year after Mr. Trump and the Republicans passed their One, Big, Beautiful Bill.
The Atlanta Fed just raised its GDPNow estimate for the third quarter that ends September 30, to 5.1 percent. Real growth. Core GDP last quarter, by which I mean real domestic private sales, increased by over 4 percent.
As the Fed chairman, Kevin Warsh, pointed out in the Open Market Committee statement, the rate rise passed unanimously by a 12-0 vote, domestic spending is resilient — indeed today’s retail sales up 6 percent year-on-year, they also pointed out productivity growth is strong, and capital investment is robust. Unemployment is low.
By the way, nonfinancial productivity — output per person — is rising over 3 percent annually for the past two years. And that is counterinflationary. Meanwhile, capital investment with 100 percent immediate expensing for machinery, equipment, some buildings, a big chunk of the data center — this is the seedcorn of the future economy rebuilding our infrastructure on the supplyside, and it can’t possibly be inflationary.
Rapid productivity is likewise counterinflationary. More people working, the same. The Census Bureau just showed real median household income reached an all-time high, Hispanic and black poverty hit an all-time low. Incomes for the bottom 25 percent reached their highest level ever.
So let me repeat an old supply-side saw, growth is not inflationary. Especially this kind of business-led growth. Manufacturing profits are soaring. Of course profits are the mothers milk of stocks and the lifeblood of the economy. And that can’t possibly be inflationary.
Now it is true that Mr. Warsh has inherited the 21 percent cumulative inflation rate from President Biden and the former Fed chairman, Jay Powell. That, and a temporary oil shock for Mr. Trump’s war against Iran to prevent them from ever getting nuclear weapons. A noble mission. So as Mr. Warsh said today, the inflation rate is still too high. And he is concerned that the underlying trend is not improving to his satisfaction.
He said: "The plain fact is that inflation is too high and has been for too long. This summer’s inflation readings do not tell me that underlying trends have meaningfully improved." He added that, "based on the most recent" consumer price index and producer price index data, "the 12 month change in total" Personal Consumption Expenditures index "prices likely was around 3.6 percent in August." Mr. Warsh added that core PCE and CPI are "running at about 3.2 percent and 2.4 percent, respectively. Too many categories are still posting increases above 3 percent on both a six and 12 month basis."
So the Fed raised its Fed funds target range by a quarter of a percentage point, to the range of 3-3/4 percent to 4 percent. To some extent, we are seeing real interest rates normalizing to accommodate stronger economic growth.
If Mr. Warsh is going to liquidate some excess balance sheet reserves, in order to strengthen the value of the dollar, that’s ok. Let’s not throw the baby out with the bathwater. Regime change at the Warsh Fed should specify that growth does not cause inflation.
https://www.foxbusiness.com/politics/larry-kudlow-prosperity-american-apple-pieAhead of COP17, UN Biodiversity Chief Urges Urgent Realignment of Finance with Nature Goals
KUNMING, China, September 17 (IPS) - The world may have enough money to protect nature. The bigger problem, according to the head of the UN Convention on Biological Diversity (CBD), is that too much of it is still being spent on activities that destroy it.
https://www.globalissues.org/news/2026/09/17/44070 {"url":"https://static.globalissues.org/ips/2026/09/ENB-IISD-Anastasia-Rodopoulou-KunmingDialogue-9Sep2026-Photo-57-100x100.jpg"}What it Means to be ‘Too Old’ and a Woman: Systemic Gendered Ageism and Loss of Belonging
TORONTO / LONDON, September 17 (IPS) - Chung Sun-cha started collecting cardboard, plastic, and other recycling materials off the streets of Incheon, South Korea, to sell when she was in her mid-70s. She is now 87. Without an adequate pension, Chung worked six days a week, sometimes seven, in the wind, rain, and snow until she fell and broke her arm while working in 2025. “I couldn’t find any other work because of my age,” she said.
https://www.globalissues.org/news/2026/09/17/44069 {"url":"https://static.globalissues.org/ips/2026/09/genderedageism-100x100.jpg"}Jalen Brunson and family launch Thirty Third Management Group to manage off-court business, advise athletesJalen Brunson and his family have launched Thirty Third Management Group to advise athletes, NIL talent and entrepreneurs on brand strategy, with his mother, sister and more involved.
New York Knicks superstar Jalen Brunson, along with his family, announced on Tuesday the launch of Thirty Third Management Group, a family-owned brand advisory firm that will manage his off-court business as well as represent clients across pro sports, business and philanthropy.
It’s been quite the year for Brunson, as he was the leader of a Knicks team that broke a 53-year NBA title drought, and he won NBA Finals MVP in the process. The "King of New York" moniker has followed him ever since, with the Knicks faithful forever indebted to him and his teammates for the pure joy they brought the city.
But if Brunson wasn’t a star already on the hardwood, winning the NBA title in New York vaulted him into a different stratosphere, and business opportunities and more were sure to follow.
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Now, with his own firm and his family’s back, Brunson is not only helping himself but looking forward to doing the same for others with their business development, charitable work and more.
"My family has been with me every step of the way, and everything we do is rooted in trust," he said in a statement. "Thirty Third gives us the chance to take ownership of my off-court business, to build something that reflects who we are, and to do it together."
KNICKS STAR JALEN BRUNSON IS A MAN OF THE PEOPLE, REVEALS THE ONE THING HE CAN'T LIVE WITHOUT
The firm’s name comes from the beginning of Brunson’s career, where the Dallas Mavericks selected him 33rd overall out of Villanova in the 2018 NBA Draft. He has since built a reputation defined as much by his character and leadership as by what he has accomplished on the court.
Sandra Brunson, Jalen’s mother, who has been managing his off-court business for eight years, will serve as Thirty Third Management Group president. Erica Brunson, his sister, will serve as director of client services, while Connor Cashaw, a friend and former high school teammate at Stevenson High School in Illinois, will be the director of business development. Both Erica and Connor have been a part of Jalen’s team since 2024 and 2025, respectively.
This firm was born from a belief that the most powerful brands are built on trust, purpose, and genuine human connection," Erica Brunson said in a statement. "As a family, we’ve had the privilege of supporting Jalen’s growth beyond basketball, and that experience inspired us to create an advisory platform that helps others do the same.
"We are committed to helping our clients maximize opportunities, whether in professional sports, business, or philanthropy, and want to be a strategic partner that champions both success and significance."
So, while Brunson will serve as the firm’s foundational client, Thirty Third Management Group was built with the wider goal of advising athletes, NIL talent, executives, entrepreneurs and charitable foundations on brand development, partnership strategy, business development and more.
Also, a priority of the firm from the outset will be in women’s sports, a category the firm’s leadership views as "historically underserved," with Erica leading that effort.
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Meister Seelig & Schuster PLLC, led by Mitch Schuster and Jed Ferdinand, will serve as legal counsel for the firm, while Focus Financial Partners serves as financial advisors for Brunson, his family and Thirty Third Management Group.
https://www.foxbusiness.com/sports/jalen-brunson-family-launch-thirty-third-management-group-manage-off-court-business-advise-athletesFederal Reserve hikes interest rates for first time since 2023 amid stubborn inflationThe Federal Reserve raised its key interest rate for the first time in three years amid persistent inflation caused in part by high energy prices.
The Federal Reserve on Wednesday raised its benchmark interest rate for the first time in over three years amid concerns over stubborn inflation that has been driven recently by higher energy prices.
Fed policymakers voted 12-0 to raise the federal funds rate from a range of 3.5% to 3.75% to a new target rate of 3.75% to 4%. The 25-basis-point increase marks the first interest rate hike since July 2023 and comes after the Fed left rates unchanged at its first five meetings this year.
The Federal Open Market Committee (FOMC), the central bank's panel responsible for monetary policy moves, noted that "Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust.
"Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2% goal."
STUBBORN INFLATION SETS STAGE FOR FEDERAL RESERVE TO HIKE INTEREST RATES
The FOMC's rate hike announcement was accompanied by a summary of economic projections made by policymakers. The median member of the panel projected one more 25-basis-point rate hike this year on the so-called "dot plot" as the FOMC is set to meet again in October and December, when further moves could occur. The median projection also expects the federal funds rate to remain around that level next year.
Fed Chair Kevin Warsh said the FOMC raised interest rates in support of its dual mandate to ensure price stability and promote full employment in the economy, saying that the panel "will deliver price stability."
"Our decision comes at a time when the American economy appears to be strengthening," Warsh said, noting labor market data, private sector earnings and capital investment as indicators of that strength. "I would be hard-pressed to describe broad financial conditions as restrictive."
The Fed chair noted that the unemployment rate remains low at around 4.1%, with job openings and weekly hours rising, so the "labor side of the Fed's congressional remit is in good shape."
"Yet for more than five years, inflation has been running above target. So our predominant focus is on the price stability side of our mandate. The plain fact is that inflation is too high and has been for too long. This summer's inflation readings do not tell me that underlying trends have meaningfully improved," he said.
WHAT WARSH'S JACKSON HOLE SPEECH SIGNALS ABOUT WHERE INTEREST RATES ARE HEADED
Warsh noted that the likely change in the personal consumption expenditures (PCE) index — the Fed's preferred inflation gauge — was likely around 3.6% in August, well above the 2% target, while core PCE and core consumer price index (CPI) data are running at about 3.2% and 2.4%, respectively.
"We at the Fed are unwavering in our vital and straightforward purpose, full employment and price stability, and a thriving American economy that sets the standard for the world," Warsh said.
FOX Business' Edward Lawrence asked Warsh if this was a market-led rate hike, given the odds of a rate hike were about 90% in the market's view. The Fed chair replied that "sometimes the market tries to prejudge our outcomes, I'll observe market prices and see what they have to say, but today was our decision."
Warsh was asked about what prompted the central bank to move after holding steady at its previous meeting seven weeks ago and pointed to three things.
He said improvements in the labor market led to the judgment that the economy is strengthening, adding that he hasn't seen improvement in trends related to inflation and that geopolitical developments factored in, saying that "there's no hiding from hot spots around the world."
TREASURY TO BUY BACK UP TO $6B IN LONGER-TERM DEBT AS BOND YIELDS HIT HIGHEST LEVEL SINCE 2023
The issue of higher yields on longer-term U.S. Treasurys in recent weeks came up during the news conference with the 10-year Treasury note yield around 5%, the highest since 2023.
"I would say these things tend to be overdetermined," Warsh said. "This is a complicated set of things that are affecting the most important asset anywhere in the world, the 10-year Treasury. It's the risk-free asset upon which every price of virtually every asset in the world is related to. So, I'll say three things.
"The first is economic strength. I think part of the reason why we've seen, over the course of 2026, long-term yields go up, is the economy has strengthened. Second reason: competition for capital. The surge in capital expenditures, which I referenced in my remarks, is real, and the so-called hyperscalers are out in the market raising funding. And, so, the competition for capital is real, and I think it partly explains the increase in yields.
"The third is geopolitics. The situation in hot spots around the world are driving long-term yields. It's not simply spot prices of energy, or spot prices for corn or soybeans or what, but it's the differences between those spot prices and so-called crack spreads. What that means for products that find their way into stores across the country," he said. "I think those are the three leading explanations, but certainly not an exclusive list."
CONSUMER PRICES REMAINED ELEVATED IN AUGUST AHEAD OF FED'S NEXT MEETING
Kay Haigh, global head and CIO of fixed income and liquidity solutions at Goldman Sachs Asset Management, said the "Fed has signaled it does not at this stage envisage an aggressive tightening cycle."
"Most FOMC members see a total of two hikes this year, per the SEP, and it will likely skip October's meeting given its proximity to the midterm elections. One more hike this year in December is our base case, although this remains contingent on upcoming CPI reports and the path of energy prices," Haigh added.
Seema Shah, chief global strategist at Principal Asset Management, said the "Fed has finally begun its hiking cycle, and the debate now shifts from whether rates will rise again to how many hikes lie ahead."
"The unanimous vote shows that rising energy prices and stubborn inflation have brought even the doves on board, making a one-and-done move highly unlikely. With markets already pricing multiple increases, policymakers will probably need to deliver at least one more hike to safeguard credibility," Shah added.
The FOMC is scheduled to hold its next interest rate meeting Oct. 27-28. The CME FedWatch tool shows a 49% chance of the Fed holding rates at the new target range of 3.75% to 4%, and a 51% probability of a 25-basis-point hike.
Its subsequent meeting will be on Dec. 8-9, when the tool shows a 49.5% chance that the federal funds rate will be 25 basis points higher and a 38.2% probability of a second 25 basis point hike to a range of 4.25% to 4.5%. It also reflects a 12.3% chance of the Fed leaving rates unchanged for the next two meetings.
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Stocks sank following the Fed's rate hike announcement.
The benchmark S&P 500 Index was down about 0.5%, while the Dow Jones Industrial Average was down 1.3% in late afternoon trading. The Nasdaq Composite was little changed but down slightly with a decline of 0.08%.
https://www.foxbusiness.com/economy/federal-reserve-interest-rate-decision-september-16-2026ETHIOPIA: ‘Reporting on Abuses Shouldn’t Be Treated as a Threat to National Interest’
CIVICUS discusses renewed conflict and a growing crackdown on independent media in Ethiopia with Yonas Kedir, Editor-in-Chief of the independent news outlet Addis Standard, who was recently abducted and detained by government forces.
https://www.globalissues.org/news/2026/09/17/44067 {"url":"https://static.globalissues.org/ips/2026/09/Yonas-Kedir-100x100.jpg"}Bangladesh Must Face Its Quiet Crisis of Internal Displacement
DHAKA, Bangladesh, September 17 (IPS) - Bangladesh is rightly praised for saving lives during cyclones and floods. Early warning systems, cyclone shelters and community mobilisation have turned once-catastrophic disasters into emergencies in which evacuation is often possible. But behind that success lies a quieter national failure: millions of people are being uprooted inside the country, often more than once, without a clear path back to secure homes, land or livelihoods.
https://www.globalissues.org/news/2026/09/17/44066 {"url":"https://static.globalissues.org/ips/2026/08/Dr-Mohammad-Zaman-100x100.jpg"}Continental Resources strikes Venezuela oil development dealContinental Resources signed a deal with PDVSA to develop the Ayacucho 2 Block, holding an estimated 30 billion barrels in Venezuela's Orinoco Belt.
Continental Resources on Wednesday announced that it reached an agreement with Venezuela's state-owned oil company to develop oil in the South American country's prolific Orinoco Belt.
The memorandum of understanding with Petroleos de Venezuela S.A. (PDVSA) will see Continental Resources operate and develop the Ayacucho 2 Block in the Orinoco Belt, which is the main oil field in the country. The announcement indicated that the two parties plan to enter into a long-term production agreement in the coming weeks.
The Ayacucho 2 Block is located north of the Orinoco River in the Venezuelan state of Anzoategui and covers about 126,000 acres, with an estimated 30 billion barrels of oil in the tract. Once the long-term production agreement is executed, Continental will operate the block with a 100% interest, according to the release.
OIL GIANT CHEVRON STRIKES AGREEMENT TO EXPAND VENEZUELA OPERATIONS
Continental Resources said in its announcement that "Ayacucho 2 represents one of the most significant resource opportunities in Continental's nearly 60-year history," expanding its long-term development inventory and an expansion of its international presence in a portfolio anchored by its U.S. base.
The company said in its announcement that the Trump administration's call for American energy companies to help rebuild the Venezuelan oil industry led it to perform an independent evaluation of opportunities in the country. That evaluation, along with changes made by Venezuela's government to its legal framework for hydrocarbons, opened the door for Continental to pursue the opportunity.
TRUMP ANNOUNCES 'BIGGEST OIL DEAL IN WORLD HISTORY,' SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICES
"We are excited to participate in the revitalization of Venezuela's energy industry, bringing further economic strength to Venezuela and its people as well as global energy markets. Ayacucho 2 is an extraordinary addition to our portfolio and will contribute significantly to Continental's growth trajectory," said Continental Resources CEO Doug Lawler.
"Continental was built to recognize great resource opportunities and have the conviction to pursue them," said Harold Hamm, founder and chairman emeritus of Continental Resources. "What this company is doing today builds on that foundation while taking Continental to an entirely new level. I could not be more proud of the company, our people and the future we are building."
Continental said the memorandum of understanding allows it to bring private capital, technology, technical expertise and large-scale operating capabilities to the effort to redevelop Venezuela's oil industry. It added that it plans to evaluate additional opportunities in the country, as well as those in the U.S. and around the world.
An analysis by the U.S. Energy Information Administration (EIA) that was last updated in February 2024 noted Venezuela had the world's largest proven crude oil reserves in 2023, with about 303 billion barrels, which represented 17% of global reserves.
VENEZUELA SAYS TRUMP'S HISTORIC OIL DEAL TARGETS 1.5M BARRELS PER DAY, COULD GENERATE $200B
Despite having a significant share of the world's oil reserves, Venezuela only produced 0.8% of global crude oil output in 2023, and the total output of 742,000 barrels per day represented a 70% cumulative decline from the country's production levels in 2013.
Most of Venezuela's reserves are extra-heavy crude oil from the Orinoco Belt, and the EIA noted that the "extraction of extra-heavy crude oil requires a higher level of technical expertise, which international oil companies possess but their involvement has been limited by international sanctions."
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"Furthermore, budgetary constraints at Venezuela's state oil company PDVSA and a lack of qualified technical personnel and foreign direct investment have all hampered Venezuela's oil and natural gas development," EIA added.
https://www.foxbusiness.com/markets/continental-resources-strikes-venezuela-oil-development-dealEU opens door to unprecedented 'associate member' status for Canada amid US trade spatEuropean Commission President Ursula von der Leyen proposed making Canada the EU's first "associate member" to integrate supply chains amid U.S. tariff tensions.
European Commission President Ursula von der Leyen on Wednesday proposed opening the door for Canada to become the European Union's first "associate member," a significant step that could bring Ottawa substantially closer to the bloc as its trade dispute with the U.S. shows no signs of abating.
Speaking in Strasbourg during her annual State of the European Union address, von der Leyen addressed Canadian Prime Minister Mark Carney, who was in the chamber, and called for a major expansion of economic, technological and security cooperation between Canada and the EU.
"I would like to work with you on opening the door for Canada to be the first associate member of the EU," von der Leyen said, drawing a standing ovation from EU lawmakers before walking over to embrace Carney.
BILLIONAIRE WARNS ‘EVIL EMPIRE’ WANTS TO ‘CRIPPLE TRUMP,' CALLS OUT AMERICA'S NORTHERN NEIGHBOR
Von der Leyen said the two sides would move from their existing CETA trade agreement toward what she called an "Alliance for the Future," aimed at creating a common prosperity and economic security space.
The proposed partnership would deepen cooperation for advanced manufacturing, defense production, energy, critical minerals, artificial intelligence, quantum technology, cybersecurity and the Arctic.
"We see the world with the same eyes," von der Leyen said, citing shared positions on issues ranging from Ukraine and defense to supply chains and climate change.
"But above all ... Europe and Canada believe in democracy," she said. "This is a partnership not against anyone else, but for our common strength."
The proposal comes as Canada seeks to diversify its trade away from its heavy reliance on the United States.
Carney has pledged to double Canada's non-U.S. trade over the next decade following a breakdown in Canada-U.S. trade talks last month that triggered a series of tit-for-tat tariff measures.
Earlier this week, Carney — who is scheduled to address the European Parliament on Thursday — said Canada was seeking a "unique alliance" with the EU, but not membership.
He said more detailed discussions are expected to begin at the Canada-EU summit in Montreal in late October.
But the proposal still faces significant legal and political questions. The EU has historically resisted flexible alliances without a defined legal status.
Speaking to Reuters on the matter, one EU diplomat expressed surprise at von der Leyen's announcement, saying the proposal was too vague and warned that the Commission president was "overpromising and won't be able to deliver."
Deeper economic integration could also face longstanding trade obstacles. Mark Manger, a professor of political economy and global affairs at the University of Toronto, told Reuters that EU officials have been frustrated by Canada's protection of its telecommunications and dairy sectors — issues that could complicate efforts to further deepen economic ties.
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It will ultimately be up to EU member states whether the proposal moves forward.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/eu-opens-door-unprecedented-associate-member-status-canada-us-trade-spat