Target beats Wall Street estimates, hikes sales outlook as shoppers start to returnTarget has been struggling with a sales slump and decreased customer traffic, though CEO Michael Fiddelke has said the retailer is poised for a turnaround.{}
Stellantis CEO Antonio Filosa is about to unveil his plan to turn the company around as the automaker's stock lagsShares of Stellantis are off nearly 30% since Antonio Filosa, a veteran who climbed through the company ranks, was named CEO nearly a year ago.{}
California business owners ‘working for peanuts’ as costs, record gas prices and regulations devour profitsCalifornia "sticker shock" is mounting for the state's small business owners, but one restaurateur and their multi-billion-dollar lender explain why they're not walking away — yet.
For 25 years, Mike Georgopoulos — better known to his friends as "Mikey G" — has built a legacy in San Diego, opening 30 restaurants in the last decade alone. But today, the veteran entrepreneur says the California dream is being choked by a math problem that no longer adds up.
With raw material costs rising sharply and energy bills up 24%, Georgopoulos said a staggering 2% cost is being ripped straight from the bottom line before a single burger hits the grill. In an industry where a 5% profit margin is considered a win, Georgopoulos warns that owners are now "trapped" in a "vicious cycle" of record gas prices and what he calls predatory regulations that have them "working for peanuts" just to keep the doors open.
"We built over 30 restaurants in the last 10 years. The barrier to entry is insane. It takes years to get permits and entitlement. It costs a lot of money, and there's a lot of money at risk before you even have your award of the appropriate permits. So you may have to risk some money and then not get what you need," he told Fox News Digital from his newly-opened brewery.
"They're working for peanuts because they just can't make it, but they're trapped. They can't get out. They own a business, they're in a lease, they have no other place to go. So they're just in a vicious cycle, and there's just nothing coming out on the other end in terms of profit," Georgopoulos added. "It’s sticker shock, it really is."
Rising energy and electricity costs began to escalate for California small businesses in 2022 after the pandemic, according to the restaurateur, but bills saw what he described as double-digit hikes since the conflict involving Iran intensified just over a month ago. At this point, Georgopoulos is "constantly" changing pricing on his menus, but admits prices should have increased by 100% over the past two years.
"It's pretty significant. It's a lot and it's going up. It's not coming down," he said. "But there is an upper limit to what people are willing to pay before they decide to cook it at home. So we have to cut in other areas and keep our menu prices competitive… In California, our labor is as high as anywhere in the nation, and we don't have a tip credit, which is disappointing, to say the least. So we have to reduce labor costs by reducing staffing, so cutting shifts, making shifts shorter, which then takes away from the guest experience… and that’s the struggle we go through month by month."
"It's clear cash flows are clearly impacted by what we are experiencing today. Not only gas prices, but just turbulence in what the future has to hold for small businesses. But it's clearly from anywhere from accounts receivable to accounts payables, we're seeing some slowness in those factors. That basically tells us the pressure is there, and it's mounting," Cardiff Co-CEO Mo Tehrani, whose lending company has funded more than $12 billion in small business loans and even helped Georgopoulos, also told Fox News Digital.
"Especially in California, we have probably the highest gas prices anywhere in the country, and it's directly impacting small margins that the transportation sector operates under. So it's an immediate impact," the CEO continued. "The pump obviously impacts how people hire, how people route their deliveries, surcharges, pricing their products, all those things are impacted."
A spokesperson for the California Energy Commission told Fox News Digital that "California is committed to energy affordability for all residents," adding that affordability is a key factor in advancing a fully clean energy future. The spokesperson also said energy prices in the state are largely outside the commission’s control.
Besides the pain at the pump, recent data from WalletHub suggests the pressure California business owners have long felt. An analysis of more than 1,300 small cities found that California is home to the most difficult environments for entrepreneurs, with the final 10-plus rankings exclusively occupied by California municipalities, including Pacifica, Danville, Castro Valley and Saratoga.
According to the Public Policy Institute of California, the state's private-sector employer base has grown 52% since 2005, more than double the 21% increase in public-sector entities.
"It's really costly to move an organization and folks and their customer base out of the state. So for those that are fortunate enough, we're seeing that happen. But the majority of Main Street doesn't have that opportunity to do that," Tehrani explained. "And we're fortunate in California, it's one of the largest economies in the world. We have a lot of entrepreneurs here that want to live here, and they want to build a business around them. Some of those are serial entrepreneurs that are building new businesses that may not necessarily abide by the historical rules of having a lease here, having employees live here."
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"We are losing staff in part because it's less expensive for them to work in more rural areas out by where they may live. We're also losing staff because we're experiencing a homeless crisis that you hear about constantly and the vagrancy that comes with that in downtown San Diego," Georgopoulos said. "You're just paying more taxes, making less tips, and getting less hours… We have 700 employees that we have to think about every single day… We want them to come into work and make money, and we don't want their costs to be so high."
Another massive issue: California’s legal and regulatory landscape — business owners are being targeted by what Georgopoulos described as "shakedown" lawsuits related to wage and hour laws, forced to settle or spend six-figure sums on what he called frivolous claims; and law-abiding owners face aggressive health inspections and permit requirements, while illegal, unpermitted vendors operate with "impunity" in the same neighborhoods.
"The laws are very favorable in California to allow these law firms to do this. So what that does is there's a compound effect, right? A given restaurant could spend $100,000 in one year dealing with lawsuits… These lawsuits are killing us," Georgopoulos noted. "And then the ongoing regulations are just... very taxing… There's a hundred illegal hot dog vendors operating in downtown San Diego. They're not supposed to be there. They don't have permits. They certainly don't even have [outdoor bug] screens. They don't even have hand washing stations. They cross those individuals to come shut me down while those guys are operating."
"Traditionally, access to capital has been difficult, takes weeks to months of planning and going through an application process," Tehrani highlighted on regulations. "What we've tried to do is make that process as simple and flexible as possible to allow a business owner to be able to have an opportunity and be able fulfill that [operational funding] within hours or within short few days."
While the data suggests a bleak future for California’s mainstream businesses, Tehrani believes the survival of the U.S. economy hinges on the very "problem solvers" currently being squeezed in the Golden State. For him, the current crisis is a forced return to the innovative roots of entrepreneurship.
"Small businesses are resilient. They are by far the most resilient and probably the reason why the U.S. economy is as strong as it is; It relies on small businesses to be successful. In no place on Earth does this small business environment exist other than in the United States," Tehrani said. "Having said that, these challenges require business owners to go back to their roots. They're innovators. They're builders. They're adaptable, and they're problem solvers. And that's really what's required to get through these challenges. And so there are $8 per gallon gas prices, [but] I bet on small businesses innovating their way out of those issues."
For Georgopoulos, the ultimate advice to struggling peers — "move to Texas" — is a joke that carries a heavy weight of truth. Yet, he is choosing to double down on his home state, even if it means fighting an uphill battle against a system he says is making him "love it less."
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"We did not get into this business to get rich. It's not a get-rich business. You're in the restaurant and the hospitality industry because you love what you do. You love hosting people. You love having people at your place of business and showing them a good time. We're starting to love it less. And eventually, you're gonna have all the cookie-cutter chain restaurants if we're not careful," Georgopoulos warned.
But even with the "sticker shock" of his own home solar bill and the exodus of staff, he isn't walking away yet.
"California has given me everything. I've worked for it, it didn't come easy. So I still believe we can make it work. We just bought a new local company called Ballast Point that we're remaining here in San Diego. It would be much cheaper for me to move it out of state. We would get significant profits from that. But we're going to stay and we're gonna fight it out and we'll keep Ballast Point here, and we are going to make it work. We're going to speak out when we can and try to get some relief where we can. And hopefully, someday, soon, things will change in our favor."
https://www.foxbusiness.com/economy/california-business-owners-working-for-peanuts-costs-record-gas-prices-regulations-devour-profitsPopular Costco kitchen gadget recalled after fire hazard leaves person burnedA popular electric kettle sold at Costco and HomeGoods is being recalled nationwide after more than 160 reports of loose or detached handles, including one second-degree burn.
More than 113,000 electric kettles sold at Costco and HomeGoods have been recalled after reports that the handles can detach and spill hot water, including one reported second-degree burn, according to the Consumer Product Safety Commission (CPSC).
The recall, announced May 14, involves ZWILLING J. A. Henckels Aktiengesellschaft Enfinigy Kettle and Enfinigy Kettle Pro electric stainless-steel kettles after reports of the handles loosening and separating, posing a risk of serious injury due to a burn hazard.
About 113,440 kettles were recalled in the United States, according to the CPSC report. An additional 43,963 were sold in Canada and 48 were sold in Mexico.
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The firm received 163 reports of kettle handles loosening or separating, including five incidents involving handle separation and one reported second-degree burn.
The affected kettles can be identified by model numbers 53101-200 and 53101-201 for the 1.5L ENFINIGY Electric Kettle, and 53101-500, 53101-501, 53101-502, 53101-503 and 53101-504 for the 1.5L ENFINIGY Electric Kettle Pro.
The model numbers and "ZWILLING" branding can be found on the bottom of the kettle and the power base.
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The electric stainless-steel kettles came in several colors, including black, silver, rose gold and white, according to the recall notice. ZWILLING branding appears on the kettle itself.
The kettles were sold at Costco, HomeGoods stores nationwide and online at zwilling.com from December 2019 through February 2026 for between $120 and $200.
Customers are urged to stop using the kettles immediately and to contact the brand in exchange for a full refund.
Consumers in the U.S. should also visit the brand's website for instructions before disposing of the recalled product, including unplugging the kettle, cutting the cord and uploading a photo of it.
A representative for Costco did not immediately respond to FOX Business' request for comment.
https://www.foxbusiness.com/lifestyle/popular-costco-kitchen-gadget-recalled-after-fire-hazard-leaves-person-burnedOne of America’s oldest beer brands discontinued after 177 years in USSchlitz Premium, the Milwaukee-born lager that once dominated the U.S. brewing industry, is being discontinued after more than 175 years.
One of America’s once-dominant beer brands is being discontinued after more than 175 years.
Schlitz Premium, a beer brand that traces its roots to Milwaukee in the 1840s and was once among the largest breweries in the country, is being put "on hiatus," parent company Pabst Brewing Co. confirmed Friday after Wisconsin Brewing Company announced it would brew the brand’s final batch later this month.
"Unfortunately, we have seen continued increases in our costs to store and ship certain products and have had to make the tough choice to place Schlitz Premium on hiatus," Zac Nadile, Pabst head of brand strategy, said in a statement to Milwaukee Magazine.
"Any brand or packaging configuration that is put on hiatus is still a cherished part of our history and hopefully our future. We continually look for opportunities to bring back beloved brands, and customer feedback is important in shaping those discussions."
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The Schlitz brand became famous for its longtime slogan, "the beer that made Milwaukee famous," and was once the nation’s largest brewery before Anheuser-Busch overtook it in the late 1950s.
The company was originally founded in 1849 after August Krug opened a tavern brewery in Milwaukee. Joseph Schlitz later took over the business after marrying Krug’s widow and helped transform it into one of the world’s largest beer brands.
Schlitz rose to prominence after the Great Chicago Fire in 1871, when the brewery shipped beer to Chicago as residents struggled to access clean drinking water.
"It's a nostalgia factor," Joseph Conforti, general manager of Milwaukee Brat House, told ABC7 Chicago. "People from out of town are surprised that they still make it."
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Schlitz began losing popularity in the 1970s after cost-cutting recipe changes altered the beer’s flavor. The brand was later sold to Stroh Brewing in 1982 before Pabst acquired it in 1999.
Kirby Nelson, brewmaster at Wisconsin Brewing Company, said the company wanted to give the historic beer brand a proper farewell after learning production was ending.
"We decided that, Schlitz being what Schlitz was, it deserved a proper sendoff. One with dignity and respect," Nelson said.
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Wisconsin Brewing Company said it plans to brew "the last Schlitz" at its Verona, Wisconsin, brewery on May 23, with a limited release scheduled for June 27. Milwaukee-area bars and breweries are also planning farewell events tied to the final batches.
Representatives for Schlitz and Pabst Brewing Co. did not immediately respond to FOX Business’ request for comment.
https://www.foxbusiness.com/lifestyle/one-americas-oldest-beer-brands-discontinued-after-177-years-usNYC airport debuts AI-powered hologram 'concierge' to help travelersLaGuardia Airport unveils Bridget, an AI-powered hologram concierge in Terminal B that chats with passengers and helps them navigate the busy terminal.
New York City's LaGuardia Airport is bringing science fiction to the terminal with the debut of an AI-powered hologram concierge designed to help travelers find gates, lounges and baggage claim through face-to-face conversations.
The digital assistant, nicknamed "Bridget," was unveiled this week inside Terminal B, where the hologram chats with passengers in real time and helps them navigate the busy area.
Unlike prerecorded holograms used elsewhere for greetings or ads, Bridget responds to travelers’ questions conversationally, offering directions to gates, baggage claim, lounges and shops.
The hologram speaks English and Spanish, with more languages planned, and includes accessibility features such as closed captioning and wheelchair-friendly controls.
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Airport officials say the system is designed to support — not replace — human customer service staff, especially during crowded travel periods.
"Most people think of airports as stressful and confusing environments, but LaGuardia's Terminal B leads the world in changing all that," said David Nussbaum, founder of Proto Hologram, which developed the hologram software.
Nussbaum said the technology will provide a more personalized experience "in ways that feel natural and intuitive," adding "the future of travel has begun at LaGuardia."
The hologram currently stands near Terminal B’s food hall, with additional units expected to roll out across the terminal’s concourses.
LaGuardia’s Terminal B has become known for testing new travel technology as airports increasingly look for ways to speed up navigation and reduce passenger frustration.
https://www.foxbusiness.com/lifestyle/nyc-airport-debuts-ai-powered-hologram-concierge-help-travelersSpirit Airlines lawyer apologizes to Americans 'priced entirely out' of air travel after sudden collapseA lawyer representing Spirit Airlines apologized to Americans now priced out of air travel after the budget carrier's sudden shutdown leaves families stranded.
Spirit Airlines’ sudden overnight collapse has left budget-conscious families stranded just weeks before the traditional launch of the summer travel season on Memorial Day.
Shortly after Spirit’s operational shutdown, a company lawyer apologized in bankruptcy court to Americans who are now priced out of air travel.
"We apologize most specifically to those Americans who may now be priced entirely out," Spirit lawyer Marshall Huebner said in bankruptcy court, The Associated Press and Fortune reported, before he thanked longtime passengers who "could not otherwise have afforded air travel."
Huebner said earlier this month that the surge in jet fuel prices left the company with "no remaining way out" of bankruptcy and caused it to cease operations last weekend, while it seeks permission to sell assets on an ongoing basis and pay bonuses to remaining employees.
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Spirit Airlines announced on May 2 that it would cease operations, effective immediately, after a bailout from President Donald Trump failed to materialize. The carrier had been seeking a $500 million lifeline from the federal government, but the deal could not be finalized in time due to financial complications, the Wall Street Journal reported.
Though Spirit’s ultimate demise and bankruptcy troubles had been years in the making, the airline faced additional pressure from rising jet fuel prices after conflict involving Iran disrupted Middle East oil shipments about 11 weeks ago. Budget airlines are especially vulnerable to rising costs because they cannot easily offset fuel spikes with premium cabins, corporate travel programs or loyalty rewards, driving ticket prices further out of reach for middle-class travelers.
When the oil market volatility began, the Association of Value Airlines — representing Spirit, Allegiant Air, Avelo Air, Frontier Airlines and Sun Country Airlines — reportedly asked the Trump administration for $2.5 billion in temporary aid.
The trade group representing American Airlines, Delta, JetBlue, Southwest and Alaska Airlines quickly rejected the idea, arguing it would create an unfair advantage.
"Government intervention on behalf of those airlines would punish other airlines that have engaged in self-help in order to deal with increased costs and reward airlines who haven’t made those tough decisions," Airlines for America wrote in a press release statement. "And, in the long-term, sustaining businesses that cannot earn their cost of capital harms competition and consumers by making it more difficult for other airlines to compete."
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"Not all airlines are struggling equally," Barron’s associate editor Jack Hough said on Barron’s Roundtable last week. "Delta and United are the strongest. They could each generate maybe around $2 billion in free cash this year, but JetBlue and Frontier, they are burning cash right now as they have for years. And of course, Spirit Airlines has folded, so it takes away a lot of the price competition for major carriers."
"I think it suggests that cheap flights are going to be harder to come by for a while," Hough warned.
FOX Business' Matthew Kazin, Eric Revell and Sophia Compton contributed to this report.
https://www.foxbusiness.com/fox-news-travel/spirit-airlines-lawyer-apologizes-americans-priced-entirely-out-air-travel-after-sudden-collapseExpert says massive AI investment is ‘laying the groundwork’ for America’s futureExpert Anthony Pompliano says investors are pouring billions into AI infrastructure as the U.S. lays the groundwork for the next century.
Massive investment in artificial intelligence infrastructure is helping shape the next phase of the digital economy, according to one investment expert watching Wall Street’s AI race.
ProCap Financial Chairman and CEO Anthony Pompliano joined FOX Business’ Maria Bartiromo on "Mornings with Maria" to discuss the surge in AI investment, growing interest in digital assets and how his firm’s AI-powered financial platform is helping users navigate increasingly complex markets.
"The market is showing us that the AI trade is real," Pompliano said. "One of the things is that the United States of America is laying the groundwork for the next century."
Pompliano said artificial intelligence requires significant energy, data center capacity and computing power as companies work to expand the infrastructure behind the technology.
His comments come as major technology companies continue ramping up spending on AI chips, cloud infrastructure and energy-intensive data centers to meet demand tied to generative AI tools. Companies including Nvidia, Microsoft, Amazon and Google have committed billions to expanding AI capacity as Wall Street races to capitalize on the technology boom.
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Pompliano also pointed to growing demand for personalized AI tools in finance, arguing that models with access to an individual’s portfolio data can provide more tailored guidance than general-purpose chatbots.
"One of the problems with the general purpose models like a ChatGPT or a Claude is that it doesn't have the context of your personal financial information," Pompliano said.
The discussion also touched on cryptocurrency markets, where Pompliano said institutional adoption of Bitcoin continues to grow despite ongoing volatility.
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Pompliano said adoption is increasingly being driven by large financial firms seeking risk-adjusted returns for clients.
"Wall Street's getting in the game," Pompliano said. "You're starting to see these really big firms that are very smart, who are looking for risk-adjusted returns."
The conversation underscores how AI investment and digital assets remain central to Wall Street’s evolving strategy as firms search for long-term growth opportunities.
https://www.foxbusiness.com/media/expert-says-massive-ai-investment-laying-groundwork-americas-futureThe 3Ds for a Credible Post-2030 Development Agenda
HELSINKI, Finland / SANTIAGO, Chile / SUVA, Fiji / TOKYO, Japan, May 20 (IPS) - Just four years of the Agenda 2030 for Sustainable Development remain. What comes after 2030 is already a political battleground.
Read the full story, “The 3Ds for a Credible Post-2030 Development Agenda”, on globalissues.org →
https://www.globalissues.org/news/2026/05/20/43086 {"url":"https://static.globalissues.org/ips/2026/05/Bibbi-Abruzzini-Forus-Rabat-Morocco-100x100.jpg"}The UN Vote that Could Reshape Climate Justice
KATHMANDU, Nepal, May 20 (IPS) - Normally, resolutions voted at the United Nations General Assembly do not make the headlines.As nonbinding and mostly symbolic, rich in principles yet empty and lacking the power to carry consequences, these statements are shrugged off and ignored.
Read the full story, “The UN Vote that Could Reshape Climate Justice”, on globalissues.org →
https://www.globalissues.org/news/2026/05/20/43087 {"url":"https://static.globalissues.org/ips/2026/05/Vanuatu-has-spearheaded_-100x100.jpg"}Meta shifts 7,000 workers into AI roles as layoffs, manager cuts loomMeta is restructuring its workforce around artificial intelligence, shifting thousands of workers into AI roles while flattening management layers and cutting jobs.
Meta is preparing a sweeping workforce overhaul tied to its aggressive artificial intelligence push, including plans to move thousands of employees into AI-focused roles while cutting managers and laying off workers this week.
The Facebook parent plans to lay off roughly 10% of its workforce Wednesday as part of a broader restructuring tied to CEO Mark Zuckerberg’s effort to remake the company around AI tools and autonomous agents, according to an internal memo obtained by Reuters.
In the memo circulated Monday, Meta Chief People Officer Janelle Gale said the company plans to transfer roughly 7,000 employees into new AI initiatives while eliminating layers of management and flattening organizational structures.
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The shake-up, along with previous transfers and role eliminations, will ultimately affect about 20% of Meta’s workforce, according to the memo.
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The company had nearly 78,000 employees as of the end of March, according to securities filings.
The overhaul comes as Meta pours billions into AI infrastructure and tools amid intensifying competition with OpenAI, Google and Microsoft. The company increasingly wants AI agents to perform tasks now handled by human employees internally, according to Reuters.
"As org leaders worked on the changes, many of them incorporated AI native design principles into their new org structures," Gale wrote in the memo. "Many orgs can operate with a flatter structure with smaller teams of pods/cohorts that can move faster and with more ownership."
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Some of the employees being reassigned — a process workers reportedly refer to as being "drafted" — are moving into teams like Applied AI Engineering and Agent Transformation Accelerator, groups focused on building AI systems capable of autonomously performing workplace functions.
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Meta has also reportedly closed roughly 6,000 open job postings during the restructuring process – changes which have triggered growing backlash inside the company.
https://www.foxbusiness.com/fox-news-tech/meta-ai-workforce-restructuring-layoffsFord teams up with outdoor outfitter Filson to launch new Bronco SUVFord is teaming up with Seattle-based Filson to launch the Bronco Filson SUV, blending rugged outdoor design with off-road capability and heirloom quality.
Ford Motor Co. is partnering with Seattle-based outdoor brand Filson to launch a new Bronco SUV aimed at consumers who value rugged utility, outdoor adventure and products built to last for generations.
The companies announced Tuesday that the first-ever Bronco Filson SUV will debut on June 3.
"It is definitely catered to those that really have the appreciation for the outdoors, but [those who] also have an appreciation for products that you buy for the durability and the legacy of them standing up over time," Dave Rivers, head of Ford Enthusiast Brands, told FOX Business.
"Think about Broncos from the '60s that now go for over $100,000 – ones that are passed on through generations. … The same exists for Filson."
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The companies said the Bronco Filson collaboration is also rooted in a shared commitment to craftsmanship and American manufacturing.
"We're both American-made. Bronco is assembled at our Michigan assembly plant, and Filson has their manufacturing footprint in the Pacific Northwest. So we have that common thread of American manufacturing," Rivers said.
Unlike traditional marketing partnerships, Ford said the collaboration was designed directly into the vehicle itself.
"This is actually us collaborating with them to take the best of what Filson is and the best of what Bronco is and bringing it together in the product," Rivers said.
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The Bronco Filson is intended to function both as a daily driver and a capable off-road vehicle for outdoor enthusiasts, according to Neil Morgan, head of strategy at Filson.
"It also has the capabilities of being your commuting vehicle, but I'd say it really is attractive to those people that have that adventurous, outdoor spirit," Morgan told FOX Business.
The automaker and Filson previously collaborated in 2020 on the Ford Bronco x Filson Wildland Fire Rig concept vehicle, which supported wildfire conservation efforts through the National Forest Foundation.
"We're teaming up with Filson in this brand collaboration to redefine the rugged premium utility space," Rivers said. "Between the two of us, we have just a tremendously long history in this space."
Morgan added, "This is a partnership many years in the making."
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The announcement follows another recent Ford partnership with workwear brand Carhartt.
Earlier this month, Ford and Carhartt announced a collaboration focused on industries such as construction, manufacturing, public services and skilled trades.
The companies also introduced a Ford Super Duty Carhartt truck, a Super Duty XLT pickup co-developed by the two brands.
https://www.foxbusiness.com/lifestyle/ford-teams-up-outdoor-outfitter-filson-launch-new-bronco-suvTarget is set to report first-quarter earnings, offer read on consumerTarget has been struggling with a sales slump and decreased customer traffic, though CEO Michael Fiddelke has said the retailer is poised for a turnaround.{}
The AI economy is rewriting the American Dream — and blue-collar workers are poised to winAI-driven hiring slowdowns are hitting some entry-level jobs for college graduates as companies like Ford and AT&T ramp up recruiting for skilled trade workers.{}
Mamdani meets Jamie Dimon as Wall Street outreach intensifies amid tax backlashMayor Zohran Mamdani met with JPMorgan CEO Jamie Dimon and Goldman Sachs CEO David Solomon amid concerns over taxes and New York’s business climate.
New York City Mayor Zohran Mamdani met Monday with JPMorgan Chase CEO Jamie Dimon at the bank’s new headquarters in Manhattan as the self-described democratic socialist intensifies outreach to Wall Street leaders following backlash over proposals to raise taxes on wealthy New Yorkers.
Mamdani visited JPMorgan’s new global headquarters at 270 Park Avenue for his first in-person meeting with Dimon, according to statements from City Hall and the bank.
The meeting was "constructive and the tone was friendly," a JPMorgan spokesperson told Reuters.
According to City Hall, the pair discussed reducing government waste, cutting red tape tied to development projects and expanding public-private partnerships. JPMorgan said the conversation also focused on New York City’s competitiveness.
The outreach comes after Mamdani faced criticism from billionaire investors and business leaders over proposals aimed at increasing taxes on wealthy residents as part of a broader affordability agenda that includes rent freezes and efforts to reduce childcare and grocery costs.
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Citadel founder Ken Griffin was among the high-profile financiers who criticized the mayor’s proposals during the campaign.
Dimon has previously warned about the risks high taxes and overregulation pose to New York’s business climate. In past interviews, the JPMorgan CEO cautioned that companies and workers could continue migrating to lower-tax states if policymakers fail to maintain the city’s competitiveness.
The JPMorgan meeting appears to be part of a broader effort by Mamdani to build relationships with financial industry leaders despite tensions over tax and economic policy.
Later Monday, Mamdani also met with Goldman Sachs CEO David Solomon at Gracie Mansion, where the two discussed affordable housing, small-business investment and policies aimed at retaining talent in New York City, according to City Hall.
In recent weeks, the mayor has also met with Bank of America CEO Brian Moynihan and Blackstone President Jonathan Gray.
JPMorgan remains one of New York City’s largest private employers and said last year it contributes roughly $42 billion annually to the city’s economy. The bank’s new headquarters tower at 270 Park Avenue is expected to house about 10,000 employees.
During the meeting, Dimon also gave Mamdani a copy of "Our Towns," a book examining efforts to revitalize communities across America, according to The Wall Street Journal.
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FOX Business reached out to JPMorgan Chase and Mayor Mamdani’s office for additional comment.
https://www.foxbusiness.com/politics/mamdani-jamie-dimon-wall-street-tax-backlashWhy Gen Z is saying 'no' more often – and saving more moneyDespite rising housing costs, Generation Z is saving more and relying less on financial help from family, a new study on money habits finds.
Young Americans are working to save money for their future goals and retirement despite housing costs straining their budgets, a new report finds.
Bank of America on Tuesday released its latest Better Money Habits study of how adult members of Gen Z are handling their finances in adulthood. It found that Gen Z is getting more financially independent, with just 34% receiving financial assistance from parents or other family members – down from 39% in 2025 and 46% in 2024.
"We view that as extremely positive – more saving, less reliance on family members to get by," Will Smayda, head of financial centers at Bank of America, told FOX Business. "It turns out, adulting is hard, and it's expensive."
Gen Z has also been at the forefront of the "loud budgeting" trend, with 42% of respondents saying they're comfortable declining social opportunities and admitting they can't afford to participate – a figure that's unchanged from 2025 and remains up from 38% in 2024.
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"They're loud about spending habits, comfortable saying no to certain expenses like travel or a lavish night out at a restaurant," Smayda said, adding that the loud budgeting trend is quite a bit different. "Frankly, I think, healthy when folks are open about the way in which they save, and about the way in which they spend, and the fact that sometimes you make hard decisions."
Smayda noted that 75% of respondents said that they were actively looking for ways to spend less money, especially in their social lives when making plans with friends by suggesting free or lower-cost activities, ordering cheaper menu items or fewer drinks, as well as other strategies.
The trend is more prominent among those in the middle of Gen Z between the ages of 23 and 25, as well as the older cohort of 26 to 29-year-olds.
NEARLY HALF OF GEN X WORKERS ARE DELAYING RETIREMENT AS RISING COSTS, STAGNANT WAGES DRAIN SAVINGS
"I love the fact that saving and making tough decisions is something that this generation is comfortable talking about publicly, and it reinforces positive behaviors. Saying no to something is a positive behavior," he said. "It might hurt a little in the short term, but it definitely helps people stay on track."
"We remind our clients and our Gen Z in particular, that they have to balance near-term treats, if you will, with long-term savings. The cost of homeownership continues to go up, and it continues to be one of the most important and achievable ways of building wealth out there in the world for everyone. So we continue to make sure that there are strong, regular, in many cases digital, savings habits," Smayda said.
While Gen Z is becoming increasingly independent, they continue to seek validation for their purchasing decisions, with 40% of Gen Z seeking validation from family or friends – compared with 26% of millennials, 20% of Gen X and 15% of baby boomers. Of the Gen Z members who do so, 18% seek validation ahead of purchases, 8% do so afterward and 14% do so both before and after they purchase.
HIGH SCHOOLS RETHINK HOW TEENS LEARN MONEY SKILLS
A rising proportion of Gen Z is saving money, with Bank of America's Better Money Habits report finding 66% are currently saving – up from 63% last year and 60% in 2024. Among Gen Z savers, 36% put leftover money into savings when possible, while 22% contribute to a 401(k) retirement account and 22% also reported the use of a high-yield savings account.
High housing costs have been a notable challenge for members of Gen Z, as the report found that 29% of Gen Z respondents said housing costs are a top barrier to their financial success – a figure that's little changed over the last four years. It also found that 17% reported spending more than half of their paycheck on housing.
"That's up quite a bit," Smayda said, noting it was one of the most concerning data points in the report as it rose from 13% in 2025 and 10% in 2024.
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"If you're putting a dramatic amount of your total income into housing, it squeezes other parts of your financial life – it squeezes your savings and obviously, maybe less importantly, your discretionary spending, your fun spending if everything's going to rent or to a mortgage," he explained.
https://www.foxbusiness.com/economy/why-gen-z-saying-no-more-often-saving-more-moneyGoverning the Ungovernable
Where does real power reside in the UN development system? A new policy brief from Cepei, a Colombian development policy institute, and the German Institute of Development and Sustainability (IDOS), presented earlier in May, poses this deceptively simple question. The answer matters because institutions that cannot govern fairly or transparently struggle to sustain legitimacy, and legitimacy is essential for peace.
Read the full story, “Governing the Ungovernable”, on globalissues.org →
https://www.globalissues.org/news/2026/05/19/43078 {"url":"https://static.globalissues.org/ips/2026/05/Osugi_190526-100x100.jpg"}Mortgage rates surge to highest level since JulyMortgage rates continued to move higher Tuesday on uncertainty over the war with Iran. They are at the highest level since last July.{}
JPMorgan's summer reading list for the wealthy includes books on AI, leadership and lemonsJPMorgan’s annual summer reading list, which has become the go-to selection of beach books for the wealthy, has 14 titles this year.{}
One of the Oldest Agricultural Innovations Needs New Actions
ROME, May 19 (IPS) - For thousands of years, humans have kept bees. Beekeeping is a key agricultural activity, yet its full potential remains largely unrealized. Beekeeping produces far more than honey and generates far more income than many have chosen to acknowledge.
https://www.globalissues.org/news/2026/05/19/43077 {"url":"https://static.globalissues.org/ips/2026/05/sustainablebeekeeping-100x100.jpg"}How Am I Going To Die?
PORTLAND, USA, May 19 (IPS) - With death being an inevitable outcome, a fundamental question that crosses the minds of practically everyone is: “How am I going to die?”
Read the full story, “How Am I Going To Die?”, on globalissues.org →
https://www.globalissues.org/news/2026/05/19/43073 {"url":"https://static.globalissues.org/ips/2026/05/globalcausesofdeathheart-100x100.jpg"}Why Gen Z is saying 'no' more often – and saving more moneyDespite rising housing costs, Generation Z is saving more and relying less on financial help from family, a new study on money habits finds.
Young Americans are working to save money for their future goals and retirement despite housing costs straining their budgets, a new report finds.
Bank of America on Tuesday released its latest Better Money Habits study of how adult members of Gen Z are handling their finances in adulthood. It found that Gen Z is getting more financially independent, with just 34% receiving financial assistance from parents or other family members – down from 39% in 2025 and 46% in 2024.
"We view that as extremely positive – more saving, less reliance on family members to get by," Will Smayda, head of financial centers at Bank of America, told FOX Business. "It turns out, adulting is hard, and it's expensive."
Gen Z has also been at the forefront of the "loud budgeting" trend, with 42% of respondents saying they're comfortable declining social opportunities and admitting they can't afford to participate – a figure that's unchanged from 2025 and remains up from 38% in 2024.
AMERICANS LEAN ON CREDIT CARDS AND BUY NOW, PAY LATER AS GAS PRICES EAT BIGGER SHARE OF INCOME
"They're loud about spending habits, comfortable saying no to certain expenses like travel or a lavish night out at a restaurant," Smayda said, adding that the loud budgeting trend is quite a bit different. "Frankly, I think, healthy when folks are open about the way in which they save, and about the way in which they spend, and the fact that sometimes you make hard decisions."
Smayda noted that 75% of respondents said that they were actively looking for ways to spend less money, especially in their social lives when making plans with friends by suggesting free or lower-cost activities, ordering cheaper menu items or fewer drinks, as well as other strategies.
The trend is more prominent among those in the middle of Gen Z between the ages of 23 and 25, as well as the older cohort of 26 to 29-year-olds.
NEARLY HALF OF GEN X WORKERS ARE DELAYING RETIREMENT AS RISING COSTS, STAGNANT WAGES DRAIN SAVINGS
"I love the fact that saving and making tough decisions is something that this generation is comfortable talking about publicly, and it reinforces positive behaviors. Saying no to something is a positive behavior," he said. "It might hurt a little in the short term, but it definitely helps people stay on track."
"We remind our clients and our Gen Z in particular, that they have to balance near-term treats, if you will, with long-term savings. The cost of homeownership continues to go up, and it continues to be one of the most important and achievable ways of building wealth out there in the world for everyone. So we continue to make sure that there are strong, regular, in many cases digital, savings habits," Smayda said.
While Gen Z is becoming increasingly independent, they continue to seek validation for their purchasing decisions, with 40% of Gen Z seeking validation from family or friends – compared with 26% of millennials, 20% of Gen X and 15% of baby boomers. Of the Gen Z members who do so, 18% seek validation ahead of purchases, 8% do so afterward and 14% do so both before and after they purchase.
HIGH SCHOOLS RETHINK HOW TEENS LEARN MONEY SKILLS
A rising proportion of Gen Z is saving money, with Bank of America's Better Money Habits report finding 66% are currently saving – up from 63% last year and 60% in 2024. Among Gen Z savers, 36% put leftover money into savings when possible, while 22% contribute to a 401(k) retirement account and 22% also reported the use of a high-yield savings account.
High housing costs have been a notable challenge for members of Gen Z, as the report found that 29% of Gen Z respondents said housing costs are a top barrier to their financial success – a figure that's little changed over the last four years. It also found that 17% reported spending more than half of their paycheck on housing.
"That's up quite a bit," Smayda said, noting it was one of the most concerning data points in the report as it rose from 13% in 2025 and 10% in 2024.
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"If you're putting a dramatic amount of your total income into housing, it squeezes other parts of your financial life – it squeezes your savings and obviously, maybe less importantly, your discretionary spending, your fun spending if everything's going to rent or to a mortgage," he explained.
https://www.foxbusiness.com/economy/why-gen-z-saying-no-more-often-saving-more-moneyHome Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%Home Depot beat Wall Street's expectations on the top and bottom lines, even as some shoppers pulled back on larger projects.{}
Startup backed by American Eagle CEO reaches unicorn status in latest funding roundRadar, a hardware and software company that helps retailers better manage inventory and cut back on theft, is now valued at over $1 billion.{}
‘Do More With Less’: GEF CEO Claude Gascon on Speed, Scale and Reform
WASHINGTON D.C. & HYDERABAD, India, May 19 (IPS) - As governments prepare for the Eighth Assembly of the Global Environment Facility (GEF) – scheduled to be held from May 30 to June 6 in Samarkand, Uzbekistan – the stakes are unusually high.
https://www.globalissues.org/news/2026/05/19/43071 {"url":"https://static.globalissues.org/ips/2026/05/GEF_interim_CEO_gascon_claude_original-scaled-100x100.jpg"}UN Weather Agency Warns of Escalating Climate Extremes Across Caribbean and Latin America
CASTRIES, Saint Lucia , May 19 (IPS) - Faster-than-average sea level rise, intensifying hurricanes, extreme heat and worsening swings between drought and flooding are increasing pressure on Latin America and the Caribbean, according to a new report released Monday, May 18 by the World Meteorological Organization (WMO).
https://www.globalissues.org/news/2026/05/19/43072 {"url":"https://static.globalissues.org/ips/2026/05/JAK_IPS_2026_StateofClimate-100x100.jpg"}Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%Home Depot beat Wall Street's expectations on the top and bottom lines, even as some shoppers pulled back on larger projects.{}
Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5%Home Depot beat Wall Street's expectations on the top and bottom lines, even as some shoppers pulled back on larger projects.{}
The AI economy is rewriting the American Dream — and blue-collar workers are poised to winAI-driven hiring slowdowns are hitting some entry-level jobs for college graduates as companies like Ford and AT&T ramp up recruiting for skilled trade workers.{}
CDC says American tests positive for Ebola in Africa, risk in the U.S. remains lowNo cases tied to the Ebola outbreak have been confirmed in the U.S., and the overall risk to the American public and travelers remains low.{}
Lululemon takes battle with Chip Wilson public, calls founder 'misguided' and 'outdated'Lululemon responded publicly to founder Chip Wilson's campaign in a letter to shareholders, where it urged them to vote in its favor at its annual meeting.{}
DOJ moves to permanently drop bribery case against Indian billionaire Gautam AdaniProsecutors have asked a judge to dismiss charges against India's Gautam Adani despite allegations he orchestrated a massive corruption scheme tied to solar energy contracts.
The U.S. Department of Justice has formally asked a federal court to dismiss criminal charges against Gautam Adani, an Indian billionaire accused of misleading U.S. and global investors while raising billions of dollars to finance a major solar energy project in India.
Adani, considered one of Asia’s richest individuals, allegedly promised to pay more than $250 million in bribes to Indian officials to secure lucrative contracts. He and his executives further raised money from investors by falsely claiming the company maintained strict anti-corruption policies — all while allegedly continuing the bribery scheme and later attempting to conceal the evidence, prosecutors alleged in 2024.
Despite the severity of the allegations, the Justice Department has requested the case be dismissed "with prejudice," indicating that the charges would be permanently dropped and may not be brought again in the future, according to court records filed Monday. Adani Group has denied the allegations, calling them baseless.
"The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants," prosecutors wrote in a court filing.
INDIA BILLIONAIRE SCANDAL A 'HITJOB' BY US FIRM ATTACKING FINANCIAL SYSTEMS, SUPPORTERS CLAIM
The decision to drop the charges follows an announcement from the U.S. Securities and Exchange Commission (SEC) that it moved for entry of final judgments by consent, subject to court approval, in a related lawsuit involving Adani. The proposed resolution would not require Gautam Adani or Sagar Adani to admit or deny the SEC’s allegations.
Beginning in 2020, Adani Green Energy Limited, led by Gautam Adani, secured a major contract to develop solar power projects in India.
However, some Indian state governments allegedly declined to purchase the electricity from the project due to high costs.
As a result, Gautam Adani and his nephew, Sagar Adani, allegedly resorted to bribery, including promises of more than $250 million in payments to Indian officials, in order to secure power purchase agreements for the expensive solar energy.
BILLIONAIRE INVESTOR ISSUES WARNING OVER CHINA’S ‘CRAZY’ BUSINESS TACTIC: BE 'VERY CAREFUL'
During the same period, the company required significant capital to finance the projects and raised approximately $750 million through bond sales to U.S. and global investors.
Federal prosecutors alleged that Adani Green and related entities raised more than $3 billion through loans and bond offerings while making false and misleading statements about the company’s anti-bribery and anti-corruption practices.
Prosecutors added that, to attract investors, the company falsely portrayed itself as an industry leader in corporate governance with a strict "zero tolerance" policy on bribery.
When U.S. authorities, including the FBI and the SEC, began investigating the alleged corruption, several executives were accused by prosecutors of attempting to obstruct the inquiry by deleting emails and electronic messages, concealing information during internal investigations, and making false statements to federal agents.
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The case dismissal is contingent upon approval by Judge Nicholas Garaufis, according to the documents.
https://www.foxbusiness.com/lifestyle/doj-moves-permanently-drop-bribery-case-against-indian-billionaire-gautam-adaniJPMorgan's summer reading list for the wealthy includes books on AI, leadership and lemonsJPMorgan’s annual summer reading list, which has become the go-to selection of beach books for the wealthy, has 14 titles this year.{}
Homebuilder sentiment improves on late spring surge in demandBuilders are feeling slightly better about the housing market, as they see improved buyer traffic in a potential late spring surge.{}
Chick-fil-A franchisee sued after allegedly firing employee over Sabbath observanceAn Austin-area Chick-fil-A franchise operator faces a federal lawsuit alleging it fired an employee after refusing to accommodate her Sabbath observance.
A Texas Chick-fil-A franchise operator is facing a federal lawsuit over allegations that it refused to accommodate an employee’s religious beliefs before ultimately firing her.
According to a complaint filed by the Equal Employment Opportunity Commission (EEOC) and obtained by FOX Business, Hatch Trick, Inc. — which operates several Chick-fil-A restaurants in the Austin area — allegedly discriminated against employee Laurel Torode, whose faith prohibits her from working on Saturdays.
Torode, a member of the United Church of God, reportedly disclosed during her interview that she observes the Sabbath from sunset Friday to sunset Saturday.
The EEOC said the company initially accommodated her request while she worked as a manager overseeing delivery drivers at one Austin-area location.
MULTIPLE PEOPLE INJURED AFTER MASS SHOOTING AT NEW JERSEY CHICK-FIL-A: REPORT
That arrangement allegedly changed several months later.
"In early February 2024, Defendant told Torode that going forward it would require her to work on Saturdays, to include the period in which she observes the Sabbath," as noted in the complaint.
According to the lawsuit, Torode sought accommodations and met with company officials to discuss alternatives that would allow her to remain in her management role while continuing to observe her Sabbath.
Instead, the company allegedly told her she would need to accept a lower-level delivery driver position with reduced pay, fewer hours and diminished benefits if she wanted to avoid Saturday shifts.
CHICK-FIL-A TESTING NEW SANDWICHES IN 2 CITIES
When Torode declined the position, Hatch Trick terminated her employment, according to the EEOC.
The EEOC alleges the company violated Title VII of the Civil Rights Act of 1964, which requires employers to reasonably accommodate employees’ religious beliefs unless doing so would create an undue hardship.
"The duty under federal law to provide reasonable accommodation of religion reflects an acknowledgment by our society of the importance of faith in workers’ everyday lives and an abiding respect for those who observe religious practices as an expression of that faith," acting EEOC Dallas Regional Attorney Ronald L. Phillips said in a statement.
The lawsuit was filed in federal court in Austin after the EEOC said efforts to resolve the dispute failed.
SUMMERTIME FAVORITE RETURNS TO CHICK-FIL-A FOR 16TH YEAR
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The case has sparked attention because Chick-fil-A is famously closed on Sundays, a policy the company says was established by founder S. Truett Cathy in 1946, so employees could "rest, enjoy time with their families and loved ones or worship if they choose."
Chick-fil-A declined to comment on the lawsuit, but told FOX Business that "as a franchise business, all employment decisions are solely the responsibility of each individual restaurant owner."
Hatch Trick Inc. and the EEOC could not immediately be reached by FOX Business for comment.
https://www.foxbusiness.com/lifestyle/chick-fil-a-franchisee-sued-after-allegedly-firing-employee-over-sabbath-observanceLowe’s celebrates Messi’s last World Cup with a towering 10-foot tributeAhead of the 2026 FIFA World Cup, Lowe's "Epically More Messi" campaign is highlighted by a limited-edition, 10-foot inflatable version of Lionel Messi for homes.
As the 2026 FIFA World Cup creeps closer, fans across the world are expected to be watching one of the game’s most iconic players.
And Lowe’s is making sure Lionel Messi remains front and center during this year’s tournament.
Messi, the eight-time Ballon d’Or winner, is expected to be in contention for Argentina’s 2026 World Cup squad as the defending champions look to repeat.
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This is confirmed to be Messi’s final World Cup, as the 38-year-old, who also stars for Inter Miami CF in MLS, confirmed that to be the case leading up to the tournament.
But while fans anticipate watching Messi, Lowe’s collaborated with the soccer legend on a new campaign ahead of the World Cup. And it involves a 10-foot-tall lighted outdoor inflatable version of Messi.
Lowe’s is rewarding its MyLowe’s Rewards and My Lowe’s Pro Rewards members with "Epically More Messi," a new campaign designed to bring the brand’s most loyal fans closer to the game and to the person many consider to be one of the greatest players of all time.
To do so, Lowe’s released a limited-edition, 10-foot inflatable Messi, who is decked out in a Lowe’s soccer kit and even features details like his tattoos. Talk about a larger-than-life way to show off passion for the game and one of its greats.
"Soccer fandom is rooted in passion, pride and showing up in an EPIC way," said Jen Wilson, Lowe’s senior vice president and chief marketing officer, in a press release. "With ‘Epically More Messi,’ we’re creating new ways to bring our most passionate and loyal Lowe’s fans more rewards – in this case, access to limited-edition merchandise, epic Messi drops over social and more."
The inflatable, which goes for $99, can be purchased through a members-only access experience beginning on May 18 on Lowe’s site. It will also be available across the 11 U.S. host cities starting on May 20.
The Messi inflatable has already been seen across host sites in Atlanta (Piedmont Park), Dallas (Klyde Warren Park), Miami (Nu Stadium at Miami Freedom Park) and New York (Seaport District).
Lowe’s is also giving their members the chance to engage with exclusive content as well as Messi giveaways for the World Cup. There will also be a social-first fan experience that will appear, featuring Messi, soccer insider Fabrizio Romano and ESPN personality Katie Feeney.
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Finally, Lowe’s brought back the father-son broadcasting duo of Andres and Nico Cantor as official campaign partners.
"Soccer fandom in the U.S. is at an all-time high, and a legend like Lionel Messi can bring communities together in powerful ways," said soccer broadcasting icon Andres Cantor. "With ‘Epically More Messi,’ Lowe’s is creating experiences that meet fans where they are – at home and at their neighborhood fields where many soccer dreams begin."
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https://www.foxbusiness.com/sports/lowes-celebrates-messis-last-world-cup-towering-10-foot-tributeCreator content made the main stage at TV's 'upfront' pitches — and not just for YouTubeIn media companies' annual pitch to advertisers this week, creator content played a bigger role as a new category for reaching younger audiences.{}
Meet the pilots flying Spirit Airlines' yellow jets to the desertSpecial pilots have been moving Spirit's fleet of yellow jets to the desert.{}
Guinness collaborates with Art of Football to deliver jersey exclusive to North America for FIFA World CupAhead of the World Cup, Guinness, the iconic beer brand, collaborated with Art of Football for a limited-edition jersey exclusive to North America as part of a broader campaign.
With the 2026 FIFA World Cup set to begin June 11, Guinness, the beer from Dublin, Ireland, is launching a soccer-themed campaign called "The World’s Cup" for fans watching around the world.
Guinness, which Guinness North America says is brewed in 49 countries worldwide and sold in over 150, is reimagining its "The World’s Cup" ad from the 1990s in a way the brand says is meant to appeal to both die-hard supporters and casual viewers gathering for matches this summer.
As part of the broader campaign, Guinness collaborated with Art of Football on a limited-edition jersey collection designed specifically for match days.
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While the signature Guinness logo, as well as the Guinness harp, are visible on the front of the jersey, the shirt features a black-and-green patterned base with white and red stripes.
Art OF has collaborated on numerous pieces with Guinness in the past, but this jersey will only be available in North America starting June 8.
TUBI LAUNCHES 2026 FIFA WORLD CUP FOX HUB FOR SOCCER FANS AHEAD OF THE HIGHLY-ANTICIPATED TOURNAMENT
Art of Football, founded in 2013, is a fan-led creative studio that’s dedicated to preserving the culture of sport through the lens of art, making it a fitting collaborator for Guinness’ soccer-focused campaign ahead of one of the world’s biggest tournaments in sports.
The company has also collaborated with brands like Nike and Adidas, while securing licenses with the Premier League, Championship and European Leagues.
For Guinness, though, its "The World’s Cup" campaign isn’t just the limited-edition jersey collaboration. The brand also worked with Art of Football to outfit bartenders and pub staff who Guinness says "make game days lovely, serving pints and creating a sense of connection that keeps fans coming back."
Bartenders and pub staff in Atlanta, Boston, Philadelphia and San Francisco will be featured in Guinness content on social media during the campaign.
Guinness Draught Stout will also unveil its limited-edition soccer packs with a design created by Brooklyn-based illustrator and designer Sophia Yeshi, whose work is known for bold visual storytelling and themes of diversity.
The packs, sold in 4-packs and 8-packs, will be available nationwide for a limited time, according to Guinness.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM
Finally, Guinness has more in store, but it will be keeping it a surprise as the World Cup gets closer.
"Soccer is at its best when everyone feels part of it, and Guinness has always stood for that same spirit of togetherness," Karissa Downer, Director of Guinness, said in a press release. "Whether you're an avid supporter or simply here for a good time, Guinness makes game day feel more welcoming, more connected and more memorable. With 'The world's cup,' we are celebrating the pubs, pints and bartenders who turn every match into a moment worth sharing. The beautiful game deserves a beautiful pint and a room full of fans to enjoy it with."
Guinness says consumers should drink responsibly.
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https://www.foxbusiness.com/sports/guinness-collaborates-art-football-deliver-jersey-exclusive-north-america-fifa-world-cup5 cities that nail the retirement sweet spotAmericans retiring in 2026 may want to consider these five cities where cost of living, housing prices and senior amenities stretch savings further.
Americans looking to retire this year may be considering relocating to a new city that allows their retirement savings to go further, and a new analysis by GOBankingRates spotlights five cities to consider.
The amount an individual or couple needs to have saved to retire can vary significantly across different parts of the country.
A recent GOBankingRates report noted that the amount needed to retire in Oklahoma is $735,284, whereas the figure for Arizona would be $1,110,019 and illustrates how those amounts may differ depending on the location.
GOBankingRates identified five communities that people retiring in 2026 should consider given the cost of living, housing prices, quality of life and other amenities for seniors.
ONE TYPE OF PROPERTY IS QUIETLY SAVING AMERICANS THOUSANDS OF DOLLARS
The low cost of living is a key reason Midland topped the rankings, as the community has a median home price of around $206,000 – well below the national average of about $360,000 which gives retirees the opportunity to save on housing costs.
Located inland from Saginaw Bay, Midland has nearly 43,000 residents and has been noted for its walkability and access to nature, with the area also experiencing diverse seasons in Michigan's climate to allow locals to take part in winter activities. Midland topped U.S. News & World Report's rankings of the best communities for retirees.
Florida is a popular destination for retirees and the small community of Homosassa Springs ranked highly for its affordability as well as its location on the state's western coast north of Tampa.
Homosassa Springs also has low housing costs, with a median price of about $220,000, while also offering easy access to the coast along with the warmer climate and no state income taxes.
HOW MUCH DO YOU NEED TO RETIRE? A STATE-BY-STATE BREAKDOWN
Located north of Houston, The Woodlands is near the city's world-class healthcare facilities, a range of housing options and also low tax burdens with Texas not having a state income tax.
The cost of living is relatively higher than the smaller communities at the top of the list, with the suburb's median home value coming in at $474,000, above the national average.
New Mexico is known for its dry, sunny weather, which makes it an appealing destination for retirees – particularly those who enjoy outdoor recreation.
Rio Rancho is a suburb of Albuquerque and is near healthcare facilities and is relatively affordable in terms of housing, with a median home value of $310,000.
RETIREMENT 'MAGIC NUMBER' JUMPS AS AMERICANS GROW ANXIOUS ABOUT THEIR FINANCIAL FUTURES
Located in the mountainous western portion of North Carolina, Asheville has around 95,000 residents and offers residents access to amenities found in smaller metro areas along with access to outdoor activities and healthcare.
The median home price in Asheville is listed at $442,000 according to Redfin, so housing is relatively affordable even though it may be less so than other locations on the list.
https://www.foxbusiness.com/economy/5-cities-nail-retirement-sweet-spotChinese EVs are coming to Canada, and some dealers can't wait to sell themCanada is allowing 49,000 Chinese-made electric vehicles to be imported for retail sales annually at a tariff rate of 6.1%.{}
Family investors turn to old-economy businesses like dealerships and fisheries to avoid AI disruptionWhile car dealerships and fisheries are less eye-catching than high-flying AI startups, they offer stability and cash flow that's attractive to family offices.{}
Taiwan's top US diplomat says talks with Washington ongoing as arms deal loomsTaiwan's Representative to the U.S. Alexander Yui says dialogue with Washington is ongoing as President Trump weighs $14 billion in arms sales and Taiwan boosts defense spending.
As President Donald Trump weighs a $14 billion arms sale to Taiwan, communication between Taipei and Washington remains ongoing, according to Alexander Yui, Taiwan’s Representative to the U.S.
"This is a constant thing," Yui said. "It's an ongoing dialogue. It's not just if it doesn't happen, it ends. It's just a continuum of things."
Taiwan is also increasing its own defense spending. Lawmakers recently approved a supplemental defense package worth roughly $25 billion, though Taiwanese President Lai Ching-te had pushed for closer to $40 billion.
TRUMP’S TAIWAN ‘NEGOTIATING CHIP’ REMARK SPARKS ALARM OVER HOW FAR HE'D SHIFT US-CHINA POLICY
"My government is doing what it can," Yui said. "But again, I want to stress the determination of the Taiwanese people to defend ourselves through our own means and help from any other ally is more than welcome."
Yui argued semiconductor production is one of the clearest reasons the U.S. should continue supporting Taiwan militarily. Taiwan produces roughly 90% of the world’s advanced semiconductor chips, forming what he described as a deeply interconnected global supply chain.
CHINA PROMISES 'COUNTERMEASURES' TO US ARMS SALE TO TAIWAN
"The United States is very good at designing the chips, and we're very good at scaling and fabricating the chips using machines from the United States, from the Netherlands, from Japan," Yui said. "This triangle of partnership works very well."
TAIWAN RAMPS UP COAST GUARD AND MILITARY READINESS IN FACE OF BEIJING'S 'GRAY ZONE' WARFARE
Taiwan has also pledged to invest $250 billion in semiconductor and technology manufacturing in the U.S. as Trump pushes to expand domestic chip production.
"It's not that easy. But we're trying to bring manufacturing to the United States again, because it also suits our interest to expand our manufacturing," said Yui.
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Yui also pushed back on any suggestion that Taiwan is moving toward independence, saying the island’s government is working on maintaining the status quo.
"There is no Taiwan independence movement in Taiwan because there is no need. We in Taiwan [are] called Republic of China, we're already a sovereign, independent nation," Yui said. "We're just trying to preserve the status quo as it is."
https://www.foxbusiness.com/politics/taiwans-top-us-diplomat-says-talks-washington-ongoing-arms-deal-loomsFederal jury delivers verdict on Musk's lawsuit against OpenAIA jury in federal court reached a verdict in Elon Musk's lawsuit against OpenAI after Musk accused the maker of ChatGPT of violating its founding mission as a nonprofit.
A federal jury ruled against Elon Musk in his lawsuit accusing OpenAI of abandoning its nonprofit roots, finding that neither the tech company nor CEO Sam Altman could be held liable in the matter because Musk waited too long to bring the case.
The jury delivered a unanimous verdict after deliberating for less than two hours on Monday morning, following 11 days of testimony and arguments in Oakland, California. They found all of Musk’s claims against the company and Altman to have exceeded the statute of limitations.
Musk was a co-founder of OpenAI in 2015, but left the artificial intelligence (AI) startup in 2018 after he was unable to persuade its other leaders to have OpenAI merge with Tesla or create a for-profit entity led by him to attract the investment needed to meet the company's technological needs.
In his lawsuit, Musk accused OpenAI of violating its founding mission as a nonprofit to develop AI for the benefit of humanity when the startup created a for-profit entity in 2019.
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His lawsuit sought the removal of OpenAI CEO Sam Altman and President Greg Brockman from their roles at the company. He also sought over $150 billion in damages from OpenAI and Microsoft, which Musk said he would provide to OpenAI's nonprofit entity. Altman and Brockman were among OpenAI's co-founders.
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Altman and OpenAI, now a company valued at $852 billion, argued there was never a promise to keep the company nonprofit permanently.
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The company behind ChatGPT further countered Musk's claims by noting that the Tesla CEO pursued a merger with OpenAI and was involved with discussions about creating a for-profit entity for the company before his departure from its board of directors. They also said they viewed the lawsuit as a tactic to boost his own AI startup, xAI, as a competitor to OpenAI.
https://www.foxbusiness.com/technology/musk-altman-openai-lawsuit-trial-verdictStarbucks to lay off 300 U.S. employees, shutter some regional support officesStarbucks said the moves will help the coffee chain return to profitable growth.{}
Detroit automakers have cut more than 20,000 U.S. salaried jobs as AI threat loomsReasons for the job declines vary by automaker, but are generally tied to evolving technological changes in the industry — including the rise of AI.{}
Eric Schmidt met with boos during University of Arizona commencement speech over AI fearsEric Schmidt was booed during a University of Arizona commencement address after discussing AI, job displacement concerns and the future of technology
Former Google CEO Eric Schmidt was met with boos during a University of Arizona commencement speech after discussing artificial intelligence and fears the technology could reshape – or replace – parts of the workforce.
Schmidt, who led Google from 2001 to 2011, addressed graduates on Friday while reflecting on how technology transformed society during his career. The atmosphere shifted, however, when he pivoted to artificial intelligence – a topic that has increasingly fueled concerns about job displacement among younger workers entering the labor market.
"The same tools that connect us also isolate us. The same platforms that gave everyone a voice… degraded the public square," Schmidt told graduates.
Boos from the crowd intensified after Schmidt compared artificial intelligence to previous technological revolutions.
"I know what many of you are feeling about that. I can hear you," Schmidt said, appearing to address the boos. "There is a fear in your generation that the future has already been written, that the machines are coming, that the jobs are evaporating, that the climate is breaking, that politics are fractured, and that you are inheriting a mess that you did not create."
Schmidt acknowledged those fears as "rational" but argued graduates should help shape the future of AI rather than reject it.
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"The question is not whether AI will shape the world. It will," Schmidt said. "The question is whether you will have shaped artificial intelligence."
The exchange underscored growing anxiety surrounding artificial intelligence as major corporations rapidly deploy AI tools across industries. Companies including IBM and Klarna have publicly discussed using AI to streamline operations and reduce certain staffing needs, particularly in administrative and entry-level roles.
A recent Pew Research Center survey found many Americans remain more concerned than excited about AI’s expanding role in daily life and the economy.
Schmidt’s appearance also drew criticism from some student activist groups over sexual assault allegations raised in a lawsuit filed last year by former partner Michelle Ritter. Schmidt has denied the allegations, which an attorney previously described as fabricated. Earlier this year, a judge ordered the dispute into arbitration.
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The University of Arizona defended its decision to invite Schmidt as commencement speaker, citing his contributions to technology and scientific research.
"He helped lead Google’s rise into one of the world’s most influential technology companies and continues to advance research and discovery through major philanthropic and scientific initiatives," university spokesperson Mitch Zak said in a statement.
A similar incident occurred earlier this month when real estate executive Gloria Caulfield was met with boos after linking AI to "the next Industrial Revolution" during a commencement address at the University of Central Florida.
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Despite the backlash, Schmidt urged graduates to embrace open debate and innovation, arguing technological change remains inevitable.
"The future is not yet finished," Schmidt said in his closing remarks. "It is now your turn to shape it."
https://www.foxbusiness.com/politics/eric-schmidt-booed-ai-university-arizona-commencementMayor Zohran Mamdani says first of NYC's five government-run grocery stores will open in the Bronx next yearMayor Mamdani announces NYC's first city-run grocery store will open next year in the Bronx at The Peninsula, a mixed-use affordable housing campus.
New York City Mayor Zohran Mamdani on Monday announced another location for one of the city’s five planned government-run grocery stores.
The store will be located in the Bronx at what Mamdani called The Peninsula, a planned mixed-use campus that will also offer affordable housing and a health and wellness center in the Hunts Point neighborhood. It is scheduled to open some time in 2027.
"This store will be the first of the five city-run grocery stores to open," Mamdani told reporters during a press conference. "Bronx residents will be able to begin shopping here next year."
"It is going to be a 20,000 square-foot location, and its ambition is perfectly placed at The Peninsula, which will house 740 units of 100% affordable housing by the time that it's fully built," the mayor continued.
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The Peninsula will be located on the site of the former Spofford Juvenile Detention Facility.
Mamdani previously announced an East Harlem location for the city's flagship 9,000 square-foot Manhattan location, but that store will be built from the ground up and is slated to open in 2029.
The East Harlem site is estimated to cost $30 million, according to the New York Times. It was unclear how much the location at The Peninsula would cost.
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The total budget allocated for the development of the five city-run grocery stores is $70 million.
Mamdani has touted the city-run grocery store plan as a "grand experiment" that would reduce the cost of everyday items like bread and eggs.
He has previously promised to open one such store in each borough, saying the city will subsidize basic grocery items while a private operator runs the stores under city rules requiring lower prices.
Mamdani has said the city-run stores would be part of a broader "ecosystem" and would not replace existing grocers, including bodegas and neighborhood supermarkets, amid questions about their impact on small businesses.
Fox News Digital’s Michael Dorgan contributed to this report.
https://www.foxbusiness.com/politics/mayor-zohran-mamdani-says-first-nycs-five-government-run-grocery-stores-open-bronx-next-yearThe World Bank Wants to Change the Way It Manages Complaints: The Fixes That Could Make It Better
PRETORIA, South Africa / WASHINGTON DC, USA , May 19 (IPS) - The World Bank made history in 1994 by creating the Inspection Panel, the first independent accountability mechanism, at any international organisation. Its function is to investigate complaints from communities who allege they were harmed because the bank failed to comply with its own policies and procedures.
https://www.globalissues.org/news/2026/05/19/43070 {"url":"https://static.globalissues.org/ips/2026/05/The-World-Bank-Group_-100x100.jpg"}China will order 200 Boeing jets, Trump tells Fox NewsPresident Donald Trump told Fox News that China has agreed to buy 200 Boeing jets, according to a clip that aired Thursday.{}
Versant stock jumps 10% after company's Q1 report shows bright spots in licensing, platformsVersant, the portfolio of TV networks spun out from Comcast, reported earnings for its first quarter as an independent company.{}
NextEra bets $66.8B on AI power boom with Dominion Energy acquisitionNextEra Energy announced a $66.8 billion acquisition of Dominion Energy, expanding its reach into Northern Virginia’s booming AI data-center market.
NextEra Energy is making a massive $66.8 billion bet that America’s artificial intelligence boom will drive a historic surge in electricity demand, announcing plans to acquire Dominion Energy in a blockbuster utility deal that would create the world’s largest regulated utility by market value.
The combined company would serve roughly 10 million customer accounts across Florida, Virginia, North Carolina and South Carolina and operate about 110 gigawatts of generation capacity. The transaction is structured as an all-stock deal.
The acquisition would give Florida-based NextEra a major foothold in Northern Virginia’s "Data Center Alley," the world’s largest concentration of data centers and a critical hub of the U.S. AI economy.
The deal highlights how rapidly AI is reshaping the U.S. energy industry, with utilities racing to supply electricity to massive data centers operated by companies including Amazon, Microsoft, Google and Meta.
Dominion alone has nearly 51 gigawatts of contracted data-center capacity tied to customers including Amazon, Microsoft, Alphabet, Meta, Equinix and CoreWeave, according to the companies. One gigawatt can power roughly 750,000 homes.
The companies also said the combined business would have more than 130 gigawatts of additional large-load opportunities tied to rising power demand.
The transaction would also significantly expand NextEra’s presence in the PJM Interconnection region, the nation’s largest power grid covering more than a dozen states and several of the country’s fastest-growing AI infrastructure markets.
The merger marks one of the largest utility transactions in years and reflects growing Wall Street expectations that electricity providers could emerge as major beneficiaries of the AI boom as power demand rises for the first sustained period in decades.
The combined company would derive more than 80% of its operations from regulated utility businesses, a structure investors typically view as more stable and predictable.
Power prices nationwide have already climbed roughly 40% over the last five years, with particularly sharp increases in AI-heavy states including Virginia, Maryland and Pennsylvania.
The deal is also part of a broader consolidation wave across the power sector as utilities and investors seek to secure generation capacity and grid access tied to AI-driven demand growth.
Other recent industry transactions include Constellation Energy’s $16 billion acquisition of Calpine, Blackstone’s $11.5 billion deal for TXNM Energy and AES Corp.’s pending $33.4 billion buyout.
The merger is expected to face regulatory scrutiny and still requires approval from federal and state regulators. NextEra said it plans to provide $2.25 billion in customer bill credits across Virginia, North Carolina and South Carolina following the deal’s completion.
The companies also said they plan to maintain dual headquarters in Florida and Virginia while keeping Dominion’s utility brands and local operating structures in place. The transaction is expected to close within 12 to 18 months.
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Neither company disclosed additional details about potential operational changes or workforce impacts tied to the proposed merger.
Reuters contributed to this report.
https://www.foxbusiness.com/fox-news-tech/nextera-dominion-ai-data-center-power-demand