Estrogen patches are hard to find, and it may not be resolved any time soonEstrogen patches are in short supply as demand for menopause treatments skyrockets, and it could take at least a year for manufacturers to catch up.{}
Aid Is Falling Fast. What Can African Countries Do?
WASHINGTON DC, June 26 (IPS) - For decades, official development assistance has been a central pillar of financing in sub-Saharan Africa. That pillar is now weakening—quickly and broadly.
Read the full story, “Aid Is Falling Fast. What Can African Countries Do?”, on globalissues.org →
https://www.globalissues.org/news/2026/06/26/43413 {"url":"https://static.globalissues.org/ips/2026/06/cf-afr-aid_-100x100.jpg"}From Nets to Numbers: How Kenya’s Small-Scale Fishers Use Data to Save Their Ocean
WASINI, Kenya, June 26 (IPS) - As the afternoon sun casts a golden glow over Mukwiro village on Wasini Island on Kenya’s Indian Ocean South Coast, Mwanasiti Mwalola, 26 and Mzungu Mohammed Dhossa, 45, stand at the community fish landing site, carefully receiving baskets of freshly caught fish from returning fishers. A weighing scale hangs before them, with a pen and notebook in their hands; the two have one duty: to collect data on the stock being delivered by artisanal fishers.
https://www.globalissues.org/news/2026/06/26/43408 {"url":"https://static.globalissues.org/ips/2026/06/fish-stats-photo-1-100x100.jpg"}In a Post-Aid World, Investing in Sustainable Livestock Farming Is an Investment in Global Stability
NAIROBI, Kenya, June 26 (IPS) - Smallholder farmers in Africa and Asia are likely to still be reeling from the fuel and fertilizer crisis caused by conflict in the Middle East when what forecasters expect to be a “super” El Niño arrives later this year.
https://www.globalissues.org/news/2026/06/26/43410 {"url":"https://static.globalissues.org/ips/2026/06/Appolinaire-Djikeng_200_260626-100x100.jpg"}Should BRICS+ Lead the Global South?
KUALA LUMPUR, Malaysia, June 26 (IPS) - Leadership of the Global South has gradually declined since the 1980s. Many hope BRICS+ will fill the vacuum, but its purpose and membership suggest such hopes may be misplaced. A repurposed Non-Aligned Movement (NAM) offers the best way forward.
Read the full story, “Should BRICS+ Lead the Global South?”, on globalissues.org →
https://www.globalissues.org/news/2026/06/26/43409 {"url":"https://static.globalissues.org/ips/2018/09/jomo_180-100x100.jpg"}JPMorgan names Doug Petno and Troy Rohrbaugh co-presidents as longtime exec Marianne Lake exitsThe moves would appear to make Doug Petno and Troy Rohrbaugh the most obvious possible successors to JPMorgan Chase CEO Jamie Dimon.{}
UNCTAD: A Shift of Risk, Geopolitical Tension Weighs on Global Markets Heavier than Trade Policy
UNITED NATIONS, June 25 (IPS) - Amidst increased geopolitical tensions, the risk of volatile energy markets, trade corridors, and regional stability in the Middle East has garnered more attention than trade policy in terms of its power to alter the global economy, according to new findings from the United Nations Conference on Trade and Development (UNCTAD).
https://www.globalissues.org/news/2026/06/25/43400 {"url":"https://static.globalissues.org/ips/2026/06/As-of-now_-100x100.jpg"}From Rotten Tomatoes to AI: Ugandan Commonwealth Youth Award Winner Takes Aim at Hunger Across Africa
LONDON & DAR ES SALAAM, June 25 (IPS) - Before anyone called her an innovator, before artificial intelligence entered the conversation, before solar-powered cold rooms, before the language of sustainable development, Shifra Ainomugisha knew food loss in its painful form.
https://www.globalissues.org/news/2026/06/25/43398 {"url":"https://static.globalissues.org/ips/2026/06/SHIFRA-SG-LeadPhoto-100x100.jpeg"}Luxury spending now driven by experiences and 'inheritourism'While luxury goods sales are expected to grow between 1% and 4%, experiences are on track for growth of between 3% and 7% this year, according to a new report.{}
GM reveals 2027 GMC Sierra pickup with new V-8 engines, redesigned stylingThe new GMC Sierra trucks are crucial to GM's sales and earnings, especially highly profitable luxury Denali and off-road AT4 models.{}
Darden Restaurants earnings beat estimates but Olive Garden growth weakensSame-store sales growth at Darden's fine-dining restaurants and Olive Garden fell short of expectations.{}
U.S. giving topped $600 billion for the first time last year. Megadonors and bequests are to thankThe stock market rally turbocharged charitable giving in 2025, but primarily from wealthy donors.{}
JPMorgan names Doug Petno and Troy Rohrbaugh co-presidents as longtime exec Marianne Lake exits{}
U.S. giving topped $600 billion for the first time last year. Megadonors and bequests are to thankThe stock market rally turbocharged charitable giving in 2025, but primarily from wealthy donors.{}
Darden Restaurants earnings beat estimates but Olive Garden growth weakensSame-store sales growth at Darden's fine-dining restaurants and Olive Garden fell short of expectations.{}
Buc-ee’s expands national footprint with 15 more locations in the pipelineBuc-ee's has opened its first Arizona location in Goodyear with 120 fuel pumps and is planning 15 more travel centers across multiple states through 2031.
Buc-ee’s is fueling up for a larger national expansion, with 15 additional travel centers in the pipeline as the Texas-based chain pushes its empire farther beyond its home state.
The company opened its first Arizona location on Monday in Goodyear, a suburb of Phoenix, marking Buc-ee’s first stop in the Grand Canyon State and giving road-trippers another supersized destination for fuel, snacks and the chain's famously clean restrooms, according to USA Today.
The 74,000-square-foot travel center features 120 fuel pumps and will operate 24 hours a day, 365 days a year. The store is expected to create more than 200 jobs, and city officials said as many as 40,000 vehicles could visit during opening day and the following week, the outlet reported.
BUC-EE'S SET TO DEBUT IN 6 NEW STATES IN MAJOR EXPANSION PUSH ACROSS US
"We could not have picked a better location for our first store in the Grand Canyon State. Perfectly placed for our road-trippers headed out to California or coming in for the destination-rich Phoenix area, Goodyear will be the place to stop," Stan Beard, director of real estate development at Buc-ee's Ltd., said in a statement.
Buc-ee’s, founded in 1982, has grown from a Texas roadside favorite into one of the state’s most recognizable exports. The chain now has 56 locations across 13 states.
More openings are already on the calendar for 2026. A Buc-ee’s spokesperson confirmed to FOX Business upcoming locations in San Marcos, Texas, on Aug. 12; Benton, Arkansas, on Aug. 17; and Murfreesboro, Tennessee, on Nov. 16.
BELOVED BUC-EE'S CONVENIENCE STORE CHAIN FACES CUSTOMER SERVICE CRISIS AFTER DEVASTATING 'F' RATING
The company’s website also lists several planned locations but does not specify exact opening dates.
Six are expected in 2027: Ruston, Louisiana; Kansas City, Kansas; Gallaway, Tennessee; St. Lucie, Florida; Boerne, Texas; and Monroe County, Georgia.
Two more locations are listed for 2028: Mebane, North Carolina, and Lafayette, Louisiana.
WILDLY POPULAR GAS STATION BUC-EE'S TO OPEN FIRST-EVER LOCATIONS IN NEW STATES THIS SUMMER
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Additional stores are planned for 2029 and beyond, including Ocala, Florida; West Memphis, Arkansas; Oak Grove, Kentucky; and Hardeeville, South Carolina, which is listed for 2031.
Earlier this year, the company opened its first Ohio location in Huber Heights, according to FOX 8 News.
https://www.foxbusiness.com/retail/buc-ees-expands-national-footprint-15-more-locations-pipelineDarden Restaurants earnings beat estimates but Olive Garden growth weakensSame-store sales growth at Darden's fine-dining restaurants and Olive Garden fell short of expectations.{}
Darden Restaurants earnings beat estimates but Olive Garden growth weakensSame-store sales growth at Darden's fine-dining restaurants and Olive Garden fell short of expectations.{}
TikTok and YouTube are reinventing sports viewership. Broadcasters are taking noteLeagues, teams and media networks are increasingly meeting younger fans on social media as platforms like TikTok, Roblox and YouTube capture most of their time.{}
In West Africa’s Benin, Women Make Centuries-Old Salt Production Methods Sustainable
OUIDAH, Benin, June 25 (IPS) - It is barely noon, and a group of women sit near the beach on the outskirts of Djégbadji village, in West Africa’s Benin, sifting through mounds of salt harvested from the Gulf of Guinea’s ocean.
https://www.globalissues.org/news/2026/06/25/43397 {"url":"https://static.globalissues.org/ips/2026/06/Main-100x100.jpeg"}Beyond Commemoration: Why Conflict-Related Sexual Violence Demands Urgent Global Attention
DELHI, India, June 25 (IPS) - Three years ago, during a mission to the Central African Republic from United Nations Headquarters, I met a woman whose story has remained with me ever since. She had survived rape during the conflict. Yet what stayed with her most was not only the violence she had suffered, but the stigma that followed it. When she returned home, her family refused to take her back. In a society where survivors of sexual violence are too often burdened with shame that rightfully belongs to perpetrators, she found herself isolated and struggling to rebuild her life. In that moment, it became painfully clear that for survivors, the violence does not end when the assault ends, it continues through stigma, exclusion, and the resulting silence for most.
https://www.globalissues.org/news/2026/06/25/43394 {"url":"https://static.globalissues.org/ips/2026/06/A-survivor-of-sexual-violence_-100x100.jpg"}JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress testThe announcements followed the release of the Federal Reserve's annual stress test, which found that all 32 large banks weathered a hypothetical recession.{}
Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rulesThe Fed's annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.{}
Social Business – It’s Time
SYDNEY, June 25 (IPS) - June 27-28 is the 16th Social Business Day, observed in Savar (Dhaka) Bangladesh. In June 2024 at the Western Sydney University’s graduation ceremony where I was conferred Emeritus Professor status, I urged the new business graduates to:
- • purge the world of the… obnoxious Friedmanite idea that is destroying our planet and tearing our communities apart;
• look instead to the “Social Business Model” of Bangladesh’s Nobel Laureate Muhammad Yunus; and
• work on the right side of history; stand up for justice and liberation; spread the “moral violence” for peace; and put people and the planet before profit.
Read the full story, “Social Business – It’s Time”, on globalissues.org →
https://www.globalissues.org/news/2026/06/25/43393 {"url":"https://static.globalissues.org/ips/2019/08/Anis-Chowdhury_180-100x100.jpg"}New GEF Project Raises Hope for Change in India’s Indigenous Lake Community
DUMBOORNAGAR, India and SAMARKAND, Uzbekistan, June 24 (IPS) - At dawn, when the waters of Dumboor Lake lie still under a pale grey sky, Santo Chakma, 63, nudges his narrow wooden boat into a reservoir that swallowed his childhood.
https://www.globalissues.org/news/2026/06/24/43386 {"url":"https://static.globalissues.org/ips/2026/06/Dumboor-Lake-India--100x100.jpeg"}Nearly 6,000 pounds of frozen meatloaf recalled over undeclared soy, USDA saysNearly 6,000 pounds of frozen meatloaf and mashed potato meals were recalled due to an undeclared soy allergen, according to federal officials.
A recall has been issued for nearly 6,000 pounds of a frozen meatloaf and mashed potato product over an undeclared soy allergen, according to the Department of Agriculture's Food Safety and Inspection Service (FSIS).
North Dakota-based Power Plate Meals, LLC recalled about 5,795 pounds of its frozen Meatloaf with Garlic Mashed Potatoes products because of a misbranding and an undeclared allergen, FSIS said in its announcement last week.
The food item contains soy, while the packaging does not state that it contains the ingredient.
The affected items are 13.3-oz. vacuum sealed plastic tray packages labeled as Power Plate Meals Meatloaf with Garlic Mashed Potatoes with use-by dates between June 25, 2026, and June 10, 2027.
500K PACKAGES OF MACARONI AND CHEESE SOLD AT ALDI RECALLED OVER UNDECLARED SOY LECITHIN
The recalled products were produced between June 25, 2025, and June 10, 2026.
The impacted products were shipped to distributors in Minnesota, North Dakota and South Dakota.
Items subjected to the recall include establishment number "217SEND" inside the USDA mark of inspection.
The problem was discovered when a state inspector notified FSIS that the final label did not display soy in the ingredients list.
FSIS said there have been no confirmed reports of adverse reactions due to consumption of these meal products.
Anyone concerned about a reaction to the recalled items is urged to contact a healthcare provider.
Customers should not consume the frozen meals and either throw them away or return them to the place of purchase.
MORNINGSTAR FARMS RECALLS FOOD SOLD NATIONWIDE AFTER PLASTIC PIECES FOUND IN SELECT PRODUCTS
The frozen food product includes a ground beef meatloaf covered in barbecue sauce and served with mashed potatoes, broccoli and cauliflower.
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The recall is classified as a Class II recall, meaning that it "involves a health hazard situation where there is a remote probability of adverse health consequences from use of the product," according to the FSIS website.
https://www.foxbusiness.com/lifestyle/nearly-6000-pounds-frozen-meatloaf-recalled-over-undeclared-soy-usda-saysElon Musk loses trillionaire status after tech sell-off erases billions from fortuneElon Musk's net worth has dropped below $1 trillion after SpaceX and Tesla shares fell during a broader tech sell-off, less than two weeks after the milestone.
Elon Musk is no longer worth more than $1 trillion, less than two weeks after becoming the first person to reach the milestone.
Musk’s net worth was valued at $946 billion as of Wednesday, according to the Bloomberg Billionaires Index. That is down from about $1.11 trillion less than 14 days earlier.
The drop came after shares of SpaceX and Tesla fell during a broader tech sell-off. Investors have become more cautious about the long-term profitability of artificial intelligence.
Musk remains the world’s richest person by a wide margin. As of Wednesday, Larry Page ranked second at $296 billion, followed by Sergey Brin at $275 billion, Jeff Bezos at $257 billion and Michael Dell at $223 billion, according to the Bloomberg Billionaires Index.
SPACEX MAKES HISTORIC DEBUT; MUSK SOLIDIFIES STATUS AS WORLD’S FIRST TRILLIONAIRE
SpaceX priced its IPO at $135 per share and began trading at $150 on June 12. The debut helped push Musk’s net worth above $1 trillion.
At the IPO price, the listing valued SpaceX at more than $1.77 trillion. Musk owned about 42% of the company, and his SpaceX stake, combined with his Tesla holdings and other assets, put his net worth at more than $1 trillion.
MUSK'S SPACEX SURGES PAST AMAZON IN MARKET CAP AFTER HISTORIC IPO DEBUT
SpaceX shares later rose as high as $225.64 on June 16. That lifted Musk’s net worth to about $1.32 trillion.
But the gains did not last. SpaceX shares fell more than 30% from their June peak during the tech sell-off. On June 22, the stock dropped 16%, wiping about $240 billion from Musk’s fortune.
Tesla shares fell nearly 6% the next day, adding to the loss.
SPACEX SET A NEW RECORD FOR IPOS: THESE ARE THE WORLD'S 5 LARGEST
Founded by Musk in 2002, SpaceX has grown into the world's largest space company and a dominant force in commercial launch services.
The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.
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FOX Business' Bradford Betz and Eric Revell contributed to this report.
https://www.foxbusiness.com/markets/elon-musk-loses-trillionaire-status-after-tech-sell-off-erases-billions-from-fortuneSlate Auto says $24,950 electric truck will be profitable; targets positive cash flow next yearEV startup Slate Auto CEO Peter Faricy told CNBC that every vehicle the company produces will be gross margin positive.{}
Toyota gains on General Motors in new U.S. sales forecast: 'GM may be looking over their shoulder'Toyota has notably leaned into hybrid vehicles while GM and others bet on all-electric vehicles, which saw lower-than-expected adoption from consumers.{}
New global rules clear the road for driverless vehicles
A UN vehicle standards forum has approved the first global regulations for fully autonomous driving systems (ADS), marking a major step towards the safe deployment of self-driving vehicles.
Read the full story, “New global rules clear the road for driverless vehicles”, on globalissues.org →
https://www.globalissues.org/news/2026/06/24/43389 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Collections/Embargoed/2026/06/24-06-2026-Unsplash-waymo.jpg/image100x100cropped.jpg"}How the stories we tell about ageing shape our future
The way societies talk about ageing can shape everything from public policy to people's own expectations of later life, the United Nations Economic Commission for Europe (UNECE) said on Wednesday in a new report that calls for shifting away from narratives that portray older persons as a burden.
Read the full story, “How the stories we tell about ageing shape our future”, on globalissues.org →
https://www.globalissues.org/news/2026/06/24/43390 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Collections/Production%20Library/2026/06/24-06-2025_Adobe_elderly.jpg/image100x100cropped.jpg"}Bessent lays out 5 principles guiding Trump admin's approach to economic statecraftBessent says supply chain resilience, fair trade and dollar dominance are key to Trump administration's economic statecraft approach to global competition.
Treasury Secretary Scott Bessent on Tuesday outlined the Trump administration's approach to economic statecraft in a speech in which he outlined five core principles guiding the White House's strategy.
Bessent spoke Tuesday night at the Economic Club of New York's America 250 gala dinner and said that as the nation celebrates that milestone, it requires Americans to "reflect on the creation of our country, of course, but no less, on its condition."
He said that as America shaped the postwar world order, it made choices that have created vulnerabilities that led strategic industries and critical supply chains to migrate overseas, as well as expose U.S. firms to face unfair competition abroad.
"We've emboldened other countries to exploit our dependence as leverage. And to repair those imbalances with the world is not to retreat from it. On the contrary, it is to engage on terms that make America stronger. It is to insist on trade that is fair, reciprocal, and consistent with our national interest," Bessent said. "And it is to more closely bind what we should have never allowed to cleave: our economic and national security."
BANK OF AMERICA CARDHOLDERS CAN VISIT 250 MUSEUMS FREE DURING JULY 4 WEEKEND
Bessent discussed five core principles for the Trump administration's approach to economic statecraft. Here is a breakdown of the key points from each.
Bessent said that the modern economy requires the U.S. to assume a leadership role in areas ranging from semiconductors, artificial intelligence (AI) and quantum computing, to advanced manufacturing, critical minerals and pharmaceuticals.
He added that in the modern economy, "supply chains are the domain in which that leadership is tested, which requires a hard look at the resiliency of those supply chains.
"Of course, supply chain resilience does not require every component to be domestic from beginning to end. That would be unrealistic and unnecessary. But it does compel us to know where our vulnerabilities are and to reduce them before a crisis rears itself," Bessent said. "It requires diversifying away from dangerous concentrations."
AMERICA 250: BLACKROCK'S LARRY FINK SAYS LONG-TERM INVESTING CAN PERFORM A KIND OF 'CIVIC MIRACLE'
Bessent said that the U.S. is the "best economic partner in the world" due to the depth and dynamism of its markets, the dollar's dominance and innovation throughout the economy – though he said those benefits aren't unconditional for U.S. trading partners.
"Countries cannot seek access to our market while denying fair access to theirs," he explained while criticizing discriminatory taxes, industrial policies, intellectual property transfers and efforts to evade sanctions.
He said that while the U.S. and other countries alike have the right to regulate in ways that serve their own public interests, there is a discernible difference between that and discrimination against American firms which the administration wants to remedy.
BANK OF AMERICA'S LEGACY OF BUILDING THE AMERICAN DREAM'
Bessent said that the next era of economic competition will be more nuanced and that failing to lead efforts to help write the rules of the new economy could allow authoritarian or mercantilist systems to create a global economy that would "become more coercive and less favorable to American interests."
"If America and our partners set open, secure, market-based standards, then the 21st century economy will tilt toward freedom and prosperity by rewarding innovation, protecting intellectual property, and ensuring that competition is not distorted by discrimination," he said.
Bessent noted the dollar's role as the world's reserve currency and how it's based on the "depth of our markets, the strength of our rule of law, the credibility of our institutions, and the scale of our economy."
That has given the U.S. "enormous advantages" ranging from lower borrowing costs, deeper capital markets and more influence over the global financial system – but it also imposes obligations to crack down on things like sanctions evasion, financing of terrorism, cybercrime and corruption.
"Treasury's job is to protect the integrity of the financial system by rooting out these abuses – and to deploy this power with discipline. Sanctions must be targeted, enforceable, and connected to strategy," he said, adding it requires diplomatic coordination with partners to ensure compliance.
FORD NAMED NO. 1 MOST ICONIC AMERICAN COMPANY IN NATIONWIDE SURVEY: 'MAKING PEOPLE'S LIVES BETTER'
Bessent said that the "purpose of American economic statecraft is to connect national power with household prosperity," which he said reflects an "economy in which our working families are not merely consumers of what the world produces, but participants in what America builds."
"America's competitive advantage has never been confined to the bounty of our natural resources or the depth of our capital markets," he said.
"It has always resided in the character and the capacity of our people; the entrepreneur with the temerity to turn an idea into enterprise, the worker with the ability to master new trades and new technologies that didn't exist a decade ago, and the institutions that allow their freedom and confidence to flourish," Bessent explained.
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He said that the American people can "expect policy that rewards work, investment, production and innovation. Leadership that understands how productive capacity is power. An economy whose success is measured not merely by what it produces, but by whom it lifts."
https://www.foxbusiness.com/economy/scott-bessent-lays-out-5-principles-guiding-trump-admins-approach-economic-statecraftLARRY KUDLOW: Antisemitism is the root of Mamdani socialism, and it’s destroying New York CityIt is the most corrosive factor eating away at the lifeblood of the city
So Mayor Zohran Mamdani and his socialists had a big night last night. And I believe the absolute worst part of those victories yesterday, was the sheer unity message of antisemitism, hatred, and bigotry aimed at Jewish people that animates and unites this Mamdani Socialist movement — and their hope that they will someday drive the entire state of Israel out to the sea. Destroy it.
This Jewish bigotry is the worst part of the story. I’m gonna get to their crazy socialist economics in just a moment. Yet at the city with the largest Jewish population in the world outside of Israel, this antisemitic bigotry is astonishing and heartbreaking. And demoralizing. And it has somehow got to be stopped.
We know millions of Jewish people immigrated here from Eastern Europe and elsewhere down through the years, along with Irish, Italian, Polish, Catholics, and people from all walks of life, all religions, and all ancestries. New York was a melting pot. New York City was a great vortex of tolerance. Respect for our differences. Now it has become a place of multiple hatreds.
In a recent voter survey, half the people said life in the city feels worse than it did just a year ago. Maybe that’s the Mamdani hatred factor. It’s astonishing that New York is trapped by these kinds of hatred. Democrats like Mario Cuomo and Hugh Carey would never have stood for this.
Nor would Republicans like George Pataki or Rudy Giuliani. Mike Bloomberg, certainly not. Ed Koch, certainly not. Yet I think a lot of this antisemitism began during the Bill DeBlasio years, and the crazy left-wing socialist staff that he brought with him — and now yes it continues through Mr. Mamdani, and it must be stopped. It is the most corrosive factor eating away at the lifeblood of New York City. And this is a place where I have lived and worked for the better part of 50 years. I’ve seen the city at its greatest. I have seen the city in the dumps. Right now it’s in the dumps.
But you know what? More than the sagging economy or worries about crime, and education and other lifestyle things — it’s the daily losing ground to Florida, Texas, the Carolinas, and elsewhere, more than all of that is the Jewish hatred that is destroying our city.
To be sure, the Mamdani socialist platform of taxing wealth, alienating businesses, open borders, abolishing ICE, blaming cops, free-government everything, green new deals, packing the Supreme Court, rent controls, housing takeover, and all the rest, all of that is killing the economy and is wrecking affordability.
The Mamdani socialists don’t represent America. That’s a good thing. Republicans, to be sure, must emphasize their themes of freedom, free enterprise, and opportunity and tolerance. Yet it’s the antisemitism that’s destroying New York City. And that’s the part that hurts this New Yorker the most.
https://www.foxbusiness.com/politics/larry-kudlow-antisemitism-root-mamdani-socialism-its-destroying-new-york-cityTrump alleges gas price gouging, calls for DOJ investigationPresident Donald Trump alleged that customers are facing fuel price gouging and said that he had ordered the Justice Department to investigate.
President Donald Trump claimed energy companies are engaging in fuel price gouging and said that he has ordered the U.S. Justice Department to investigate.
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged,'" Trtump asserted in a Truth Social post.
"I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!" he declared.
OIL TANKER TRAFFIC THROUGH STRAIT OF HORMUZ HITS HIGHEST LEVEL SINCE CONFLICT BEGAN BUT MINES REMAIN
Americans have been facing higher fuel prices during the Iran war.
The AAA national average for regular gas is $3.928 as of June 24, down from the month-ago average of $4.515, though still significantly higher than the year-ago average of $3.224.
INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS
WTI crude oil futures are around $71 as of Wednesday morning, but were even lower before the start of the war.
U.S. crude closed at $73.21 Tuesday, only $6.19 more than the day before America attacked Iran earlier this year, NBC News reported.
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Trump signed a Memorandum of Understanding related to Iran last week.
https://www.foxbusiness.com/politics/trump-alleges-gas-price-gouging-calls-doj-investigationSlate Auto says each $24,950 electric pickup truck will be profitable as it aims to be cash-flow positive next yearEV startup Slate Auto CEO Peter Faricy told CNBC that every vehicle the company produces will be gross margin positive.{}
Bank of America cardholders can visit 250 museums free during July 4 weekendBank of America is expanding its 'Museums on Us' program to 250 cultural institutions in 43 states, offering free admission to cardholders on July 4 and July 5.
FIRST ON FOX: Bank of America is expanding its signature "Museums on Us" program for the July 4th weekend, offering eligible cardholders free admission to 250 museums and cultural institutions nationwide as the U.S. marks its 250th anniversary.
Bank of America, Merrill and Bank of America Private Bank credit and debit cardholders can receive free general admission to 250 cultural and civic institutions on July 4 and July 5 by presenting an eligible card and a government-issued ID, the financial institution said.
"Visiting one of these museums is an opportunity to celebrate the people, places and institutions that have shaped our country and continue to define our communities," Meghan Hughes, head of arts and heritage at Bank of America, said in a statement. "As people travel and gather for July 4th weekend, we’re encouraging cardholders to take advantage of Museums on Us and to experience these additional programs celebrating our nation’s history."
BANK OF AMERICA TO HIRE NEARLY 4,000 SUMMER INTERNS AND CAMPUS RECRUITS
"Museums on Us" typically gives eligible Bank of America, Merrill and Bank of America Private Bank cardholders free general admission during the first full weekend of each month. This July, the bank is expanding the program to 250 participating institutions as part of its broader support for America 250.
Bank of America is also providing grant support to the National Archives in Washington, D.C., allowing the institution to extend its operating hours until 10 p.m. through July 5. The bank said the extended hours are intended to give more visitors the chance to view the Declaration of Independence.
The company is backing additional America 250 programming in several major markets.
In Boston, Bank of America is supporting free access to the MA250 + Boston Pops Fireworks Spectacular, described as one of the country’s oldest and largest Fourth of July events.
TRUMP ADMIN TO TELL BANKS IMMIGRATION STATUS MAY BE CONSIDERED IN MORTGAGE, CREDIT DECISIONS
In Detroit, the bank is supporting The Henry Ford’s Salute to America and the Michigan Science Center’s "Science of Safety" initiative.
In Miami, the Freedom Tower will join "Museums on Us" and offer free admission throughout the duration of the FIFA World Cup 2026.
Bank of America is also supporting presidential history initiatives, including the Theodore Roosevelt Presidential Library, which is scheduled to open July 4 in Medora, North Dakota. The bank has made a $5 million founding gift to the library, which will focus on Roosevelt’s presidency, conservation and civic responsibility.
The company has also announced support for the Smithsonian’s National Portrait Gallery through an Art Conservation Project grant to assess and conserve 110 presidential portraits and frames.
STANDARD CHARTERED CEO WALKS BACK COMMENTS ABOUT REPLACING 'LOWER-VALUE HUMAN CAPITAL' WITH AI
In New York, Bank of America has committed to raising $500,000 and matching those funds for a total of $1 million in support of the Intrepid Museum’s mission of honoring service members.
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The bank has also partnered with Vet Tix to offer thousands of free FIFA World Cup 2026 tickets to veterans, current military members and first responders.
A full list of participating museums is available at BankofAmerica.com/MuseumsonUs.
https://www.foxbusiness.com/lifestyle/bank-america-cardholders-can-visit-250-museums-free-july-4-weekendGoogle's YouTube reaches settlement in lawsuit alleging child social media addictionGoogle's YouTube settles a social media addiction lawsuit brought by a teenager in Florida who accused the platform of causing mental health harms.
Google's YouTube has settled a social media addiction case brought by a 15-year-old in Florida who accused the platform of causing mental health harms to children, according to the plaintiff's lawyers.
The terms of the settlement in the state court lawsuit against the social media giant were confidential, the lawyers said on Tuesday.
"YouTube's decision to resolve this case before having to face a jury speaks for itself. We will continue fighting on behalf of all those affected by social media addiction to bring these companies to justice and compel them to prioritize the safety of their young users over their bottom lines," the plaintiff's lawyers said in a statement, according to Reuters.
"We will continue fighting on behalf of all those affected by social media addiction to bring these companies to justice and compel them to prioritize the safety of their young users over their bottom lines."
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Google spokesperson José Castañeda said in a statement to FOX Business that the lawsuit had been amicably resolved and that the company's focus "remains on building age-appropriate products and parental controls that deliver on that promise."
"For more than a decade, we've built YouTube responsibly — working with families to give young people safer, more helpful experiences online," Castañeda said.
The teenager, who used the initials R.K.C. in court documents, argued that YouTube and other social media companies had designed their platforms to be addictive.
He said he started using social media when he was about 8 years of age and allegedly became addicted, losing sleep and suffering from depression and anxiety.
R.K.C. is also suing Meta, TikTok and Snapchat in a trial set to begin next month in Los Angeles.
More than 3,300 lawsuits involving addiction claims against social media companies are pending in California state court, while another 2,600 cases brought by people, school districts, municipalities and states are pending in California federal court.
The first trial ended in March after a woman claimed she became addicted to YouTube and Instagram at a young age because of their attention-grabbing design. She had accused the companies of intentionally making their platforms addicting to child users.
A jury in that case found the companies negligent, ordering Meta to pay her $4.2 million in damages and Google to pay $1.8 million. Earlier this month, the judge rejected the companies’ effort to overturn the verdict.
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The woman had also sued TikTok and Snapchat, but both platforms settled before trial for an undisclosed total.
A jury in New Mexico also ordered Meta earlier this year to pay $375 million for misleading users over the safety of its platforms for children.
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Google, Meta, Snapchat and TikTok also settled a case last month that was heading to trial in which a Kentucky school district accused the platforms of creating a mental health crisis for its students.
The platforms paid a collective $27 million to settle that case.
Meta will also face a trial in a lawsuit brought by Tennessee next month. In August, a trial in federal court over the combined claims of multiple states will go forward against the social media giant.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/googles-youtube-reaches-settlement-lawsuit-alleging-child-social-media-addictionMorningStar Farms recalls food sold nationwide after plastic pieces found in select productsMorningStar Farms has announced a voluntary recall involving specific Buffalo Chik'n Nuggets and Hot & Spicy Sausage Patties sold in the U.S., Puerto Rico and Costa Rica
MorningStar Farms is voluntarily recalling two plant-based food products sold in the U.S., Puerto Rico and Costa Rica because they may contain plastic pieces, according to a notice published by the Food and Drug Administration (FDA).
The recall affects MorningStar Farms Buffalo Chik'n Nuggets and MorningStar Farms Hot & Spicy Sausage Patties. The company announced the recall on June 18, and the FDA published the notice Monday.
Consumers who purchased the affected products should not consume them and should instead discard the items and contact the company for a full refund, MorningStar Farms said.
No other MorningStar Farms products are included in the recall.
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The recalled Buffalo Chik'n Nuggets were sold in 10.5-ounce packages with UPC code 00028989101105 and "Better if Used Before" dates of July 7, 2027, and July 8, 2027.
The recalled Hot & Spicy Sausage Patties were sold in 8-ounce packages with UPC code 00028989100948 and "Better if Used Before" dates of July 5, July 6 and July 7, 2027.
The Chicago-based company said it initiated the recall because of the possible presence of plastic pieces in the food. The products were distributed in the United States, Puerto Rico and Costa Rica, according to the recall notice.
Food recalls involving foreign materials such as plastic can pose a choking hazard or risk of injury if consumed. The FDA classifies recalls involving potential foreign-material contamination among the more common food-related recalls issued each year.
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The announcement did not indicate whether any injuries had been reported in connection with the issue or how the possible contamination was discovered.
"At MORNINGSTAR FARMS, our highest priority is protecting the safety and wellbeing of our consumers," a Mars spokesperson said in a statement to FOX Business. "On June 18, we announced a voluntary recall of two varieties of MORNINGSTAR FARMS products in the U.S., Puerto Rico and Costa Rica because of possible plastic pieces in the food."
The spokesperson added that the recalled varieties are MORNINGSTAR FARMS Buffalo Chik'n Nuggets and MORNINGSTAR FARMS Hot & Spicy Sausage Patties, and that no other products are affected by the recall.
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Consumers seeking additional information can contact MorningStar Farms Consumer Affairs Monday through Friday from 9 a.m. to 6 p.m. ET by calling 800-962-0120 or texting 877-453-5837.
https://www.foxbusiness.com/lifestyle/morningstar-farms-recalls-food-sold-nationwide-plastic-pieces-found-select-productsSamuel Adams founder says craft brewers face tough market, but 'AI can’t brew beer'Samuel Adams founder Jim Koch says craft brewers face rising costs and tighter margins but remains very optimistic, noting that "AI can't brew beer."
Samuel Adams founder Jim Koch says America’s craft brewers are facing a tough business climate, as rising costs, tighter margins and a crowded marketplace put pressure on independent brands.
But Koch, who helped build Boston Beer Co. into one of the country’s best-known beer companies, says he remains "very optimistic" about the future of craft brewing because the industry still has something technology cannot replicate.
"Over the last four decades, we've seen trends come and go, consumer tastes change, and new challenges emerge, but what hasn't changed is people's desire for authentic, high-quality products made by dedicated people," Koch told FOX Business. "AI can't brew beer."
Koch’s comments came ahead of Samuel Adams’ announcement naming Soul Mega, a Washington, D.C.-based beer brand, the 2026 winner of Samuel Adams’ Brewing & Business Experienceship, a mentorship program that gives emerging craft brewers access to business guidance, industry resources and the chance to collaborate on a specialty beer.
Koch said many up-and-coming brewers are facing the same types of obstacles he encountered nearly 40 years ago when he launched Samuel Adams.
"Many aspiring craft brewers are in the same position I was nearly 40 years ago, working their butts off to create an enduring business, which is why the Brewing the American Dream program and its signature Brewing & Business Experienceship were created," Koch said. "These brewers have a great concept and passion, but lack nuts and bolts business advice and access to resources."
Soul Mega was selected after Samuel Adams’ annual Crafting Dreams Beer Bash on June 11 in Brooklyn, where six finalists poured their beers and pitched their businesses to guests.
The company began as a homebrewing project in 2011 before becoming a commercial brand in 2019. It has since expanded across the Mid-Atlantic and landed placements at retailers including Whole Foods Market and Total Wine.
The craft beer industry has been under pressure, with the Brewers Association reporting a production decline in 2025 amid broader softness in beer sales.
"Small brewers are dealing with rising costs, tighter margins, and the ongoing challenge of trying to get noticed in a crowded marketplace," Koch said. "The good news is that craft brewers are resilient, and their communities show up when it counts, which is the main reason we’ve seen such exponential industry growth with over 10,000 craft breweries open in the U.S. today."
For Koch, this year’s Crafting Dreams Beer Bash underscored why he still believes in the future of the industry.
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"Seeing the finalists and entrepreneurs gathered at this year's Crafting Dreams Beer Bash was a great reminder of what makes craft beer special," Koch said. "The success of this industry has never been about one brewery. It's about an entire community of passionate brewers and drinkers who are raising the bar together. We are all independent brewers, and we succeed together or not at all."
Since 2008, the Brewing the American Dream program and its signature Brewing & Business Experienceship have helped provide more than $123 million in funding to more than 4,600 small businesses and supported the creation or retention of more than 12,300 jobs, according to Samuel Adams.
https://www.foxbusiness.com/retail/samuel-adams-founder-says-craft-brewers-face-tough-market-but-ai-cant-brew-beerEnergy secretary says $17.5B in loans will help 'unleash the next American nuclear renaissance' for reactorsThe Department of Energy announced $17.5 billion in conditional loans to strengthen the nuclear reactor supply chain and accelerate construction timelines.
The Department of Energy on Tuesday announced $17.5 billion in conditional loans for utilities and energy companies to buy parts that will strengthen the commercial supply chain for nuclear reactors.
Energy Secretary Chris Wright said that the announcement supports President Donald Trump's executive order by boosting the nuclear industrial base, helping to "unleash the next American nuclear renaissance."
"To accomplish that mission, these conditional loans will play an important role in reviving the supply chain needed for America to once again build large-scale commercial reactors," Wright explained.
"They will also help accelerate the timeline of building those large-scale reactors by up to three years, lowering construction costs and ensuring the United States is able to deliver on President Trump's bold and ambitious energy addition agenda," he added.
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The conditional loans were provided by the Energy Department's Office of Energy Dominance Financing (EDF). The loans aim to help achieve the goal laid out in the president's executive order, which is to have 10 new large nuclear reactors with complete designs under construction by 2030.
The $17.5 billion in conditional loans will help finance five eligible projects that are sponsored by utilities and energy companies to speed up the deployment of 10 large-scale commercial nuclear reactors across the U.S. by up to three years. Each of the five loans will support two reactors at a project site.
Westinghouse, which makes the API1000 units that are the only licensed large-scale commercial reactors operating in the U.S. today, will partner with the eligible utilities and energy companies on the procurement of long-lead items at a fixed price.
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Long-lead items are complex components of a nuclear power plant that require the most time to manufacture and deliver, such as reactor vessels and steam generators.
Each of the projects will be jointly owned by Westinghouse and the utility or energy company partner, with both required to fully commit project equity of $500 million each, for a total of $1 billion, up front before they can access the Energy Department's loan funds.
The U.S. industry has struggled to attract investment because nuclear projects are capital-intensive, prone to cost overruns and face complex regulations – creating a riskier proposition for investors than relatively cheaper, quicker energy projects involving natural gas and renewables.
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Wright told reporters that the loans have attracted strong interest from data center hyperscalers, which are tech giants that run cloud and computing infrastructure, as well as energy companies amid the rising demand for electricity due to the buildout of data centers that power artificial intelligence (AI) systems.
"We are confident that these projects will be economic for utility shareholders, ratepayers and hyperscalers," Wright said. He added that seven utilities expressed interest, but wouldn't disclose their names or the location of their projects.
Trump's goal is to quadruple U.S. nuclear power capacity to 400 gigawatts by 2050, which is an aggressive target given that the last reactors built in the U.S. were delayed by seven years and faced billions of dollars in cost overruns.
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Three shuttered nuclear power plants are on track to resume operations in the coming years, including Palisades in Michigan, Three Mile Island in Pennsylvania and Duane Arnold in Iowa.
During Trump's first term, he used what was then known as the Loan Programs Office to help finance reactors for the Vogtle nuclear power plant in Georgia.
Wright said that the Energy Department expects the plants' timing and cost to "well outperform what was done on Vogtle."
Reuters contributed to this report.
https://www.foxbusiness.com/politics/energy-secretary-says-loans-help-unleash-next-american-nuclear-renaissance-reactorsLARRY KUDLOW: Stop the hand-wringing, let Trump make a great deal for AmericaNot a single dime of money will reach Iran unless the final deal verifiably with inspectors ends their nuclear program and their enriched uranium
There’s vastly too much hand-wringing over President Trump’s diplomacy and potential dealmaking with Iran, and it’s coming from friends and foes alike. I think it has more to do with America’s crumbling political infrastructure, than it does regarding the merits of Mr. Trump’s efforts.
First of all, the so-called memorandum of understanding is a nonbinding political document which simply outlines topics to be covered in the months ahead for some kind of final deal. Some people are taking parts of this MOU completely out of context for their own political gain. Let’s step back for a moment.
Over the past year, beginning with Operation Midnight Hammer and continuing through Epic Fury and Economic Fury, American and Israeli allied forces have completely decapitated the Iranian leadership, turned their nuclear capacity into rubble, totally buried their enriched uranium, destroyed their navy, destroyed their airforce, destroyed their radar, destroyed much of their missiles, and drones, and destroyed virtually their entire industrial base. Inflation could be running at more than 200 percent. Food and medicine for average civilians are not available. Currency is worthless. The economy essentially shuttered. In other words, Iran’s military and economic capabilities have been decimated. And people know this whether they criticize it or not. General Jack Keane observed that we’re not even seeing Iranian fast boats anymore in the Strait of Hormuz.
Meanwhile, the New York Post’s Miranda Devine writes that Iranian women at Tehran are now going around on motorcycles wearing skirts and without hijabs covering their hair, a crime that used to result in fines, jail, and savage beatings. Yet the morality police may be dead. Another sign that the radical Islamist Republic is crumbling from the inside.
Because of Mr. Trump’s courageous actions, the only president in the last 50 years to go after Iran forcibly and successfully. Its leadership has been decapitated, their military capabilities have been virtually eliminated, and their nuclear operations have been shut down. All reduced to rubble.
In short, their capacity for harm has essentially been eliminated for years to come with no boots on the ground. So, all this gives Mr. Trump the opening for diplomacy in the future. Why not try it? And that leads to at least a temporary suspension of the naval blockade to reopen the Strait of Hormuz and bring down oil prices to sustain the world economy.
It’s a risk worth taking. Indeed I don’t think there’s any risk at all. And not a single dime of money will reach Iran unless the final deal verifiably with inspectors ends their nuclear program and their enriched uranium. That’s the final deal, not some non-binding memo.
Even oil money will be put into an escrow account by the United States Treasury. And released only for buying the Iranian people food, farm, and medical help. Mr. Trump had this to say on the matter: "One of the things that we are doing also, and it came up last night, is money that’s being unfrozen is going to be used to buy food, and the food is going to be bought exclusively through the United States from our farmers. And corn, soybeans, all of the things they need are going to be bought from our farmers."
That is quintessentially a Trumpian approach in deal making. The absolute key point is that the president, as he has said time and again, is going to end Iran’s nuclear capacity, period, full stop, with verification and inspection. Mr. Trump calls it nuclear honesty. And if Iran doesn’t play ball, then… We will go back to military, bombing, and the economic embargoes, and give them even more damage if that’s what it’s going to have to take.
Right now, Mr. Trump is making the right decisions. Opinion polls more and more are showing a favorable attitude towards his diplomacy and deal-making. So I say, let us stop this hand-wringing and let Mr. Trump do what he does best. Which is make a great deal for America.
https://www.foxbusiness.com/politics/larry-kudlow-stop-hand-wringing-let-trump-make-great-deal-americaMiles McBride gifts Knicks teammates custom 1800 Tequila bottles to commemorate first NBA title in 53 yearsMiles "Deuce" McBride partnered with 1800 Tequila to gift Knicks teammates custom championship bottles celebrating New York's first NBA title in 53 years.
The first New York Knicks NBA championship in 53 years has the entire city still in rapture days after beating the San Antonio Spurs in five games.
This special moment in Knicks history is something the players have not taken for granted, and one of them is working alongside 1800 Tequila to commemorate the moment in special fashion.
Miles "Deuce" McBride teamed up with the tequila brand to gift his teammates with custom New York-themed bottles of 1800 Milenio Tequila, which is the brand’s luxury expression made for legendary milestones like the Knicks had this season.
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The bottles were designed specifically for the championship season by local illustrator and longtime Knicks fan Fefi. They feature New York City iconography, hometown sayings, and have visual nods to the grit, pride and energy that have been seen throughout this historic playoff run all around the bottle.
There were only 30 bottles created and gifted to the roster and several staff members from McBride, with each one being a personal keepsake to remember this signature moment in New York sports history.
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"I'd say legacy means so much to me. The legacy of 1800 [Tequila] being passed down, it just correlates really well with everything in my life, everything New York, and everything Knicks," McBride said.
The Knicks made 1800 Tequila the official tequila of the team, and that partnership was on full display during the playoff run. While having sold-out Knicks limited edition bottles, it also launched Row 18(00), which was a campaign featuring New York-based content creators that gave real Knicks fans who may have gotten priced out of attending playoff games at Madison Square Garden the chance to watch from Row 18 inside the arena.
Game 3 of the NBA Finals between the Knicks and Spurs, which marked the first finals game at MSG since 1999, had an average sale price around $7,683, according to Vivid Seats earlier this month. The cheapest ticket to attend was $3,940, and those four-figure prices were also seen earlier in the playoffs.
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https://www.foxbusiness.com/sports/miles-mcbride-gifts-knicks-teammates-custom-1800-tequila-bottles-commemorate-first-nba-title-53-yearsTrump visits Mack Trucks plant in battleground Pennsylvania district to tout economic agenda as midterms loomTrump visits Mack Trucks facility in Macungie, Pennsylvania, touting 32,000 new jobs and 2,600 manufacturing jobs created in the commonwealth.
President Donald Trump on Tuesday visited the Mack Trucks facility in Macungie, Pennsylvania, to tout his economic agenda in a battleground district ahead of this fall's midterm elections.
Trump spoke to a crowd at the Mack Trucks facility while accompanied by Rep. Ryan Mackenzie, R-Pa., who represents the Keystone State's 7th congressional district where the plant is located. Mackenzie is running for reelection and will face Democratic challenger Bob Brooks this fall.
The president touted the impact of his economic policies on Pennsylvania, saying that they've helped boost job creation in the commonwealth with a particular focus on manufacturing jobs.
"More Americans are working today than at any time in the history of our country. And we've created over… 32,000 new jobs just starting in Pennsylvania alone. But you have to get credit for that," Trump said. "And in the last few months alone, we've added 2,600 Pennsylvania manufacturing jobs, and that number's going to go much higher as the factories start to open."
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Trump also praised the role of Mack Trucks, which is owned by Volvo Group of Sweden, in supporting both the regional and national economy with its production.
"For more than 100 years, this legendary company has been making trucks right here in Eastern Pennsylvania, building the heavy machinery that keeps our economy rolling on, factories moving and our industries rolling all across the nation," Trump said.
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He also said that his move to roll back the Biden administration's fuel emissions regulations, arguing that those more stringent standards would've raised costs on consumers and created problems for companies like Mack Trucks.
"I terminated Biden's disastrous fuel emission standards that would have crushed Mack Trucks here," Trump said. "It was the most insane environmental regulation ever conceived of by men. It was totally unreasonable and ridiculous, and you can sell trucks for much less money, that are much better trucks that work, that actually work."
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Trump's speech also referenced other notable investments in the region's manufacturing industries, including the pharmaceutical, medical products and chip-making sectors.
"Eli Lilly has just announced — great company, by the way, drug company — a $3.5 billion investment in a brand-new, state-of-the-art manufacturing facility right down the road that's going to create over a thousand jobs. Just that one," Trump explained.
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"Nokia is investing $30 million to expand its semiconductor testing and packaging operations, thousands of jobs," he added. "And B. Braun has announced a $20 million expansion of its medical device manufacturing operation in Allentown."
https://www.foxbusiness.com/politics/trump-visits-mack-trucks-plant-battleground-pennsylvania-district-to-tout-economic-agenda-midterms-loomSupreme Court dismisses Falun Gong lawsuit accusing Cisco of helping China persecute religious movementThe Supreme Court ruled 6-3 to dismiss a lawsuit accusing Cisco Systems of aiding China's persecution of Falun Gong members under the Alien Tort Statute.
The Supreme Court on Tuesday issued a ruling that limits the use of a federal law to hold U.S. corporations liable for human rights abuses abroad when it dismissed a lawsuit that accused Cisco Systems of aiding the Chinese government's religious persecution of the Falun Gong movement.
The 6-3 ruling reversed a lower court's decision that had allowed a lawsuit filed by Falun Gong members in 2011 under the Alien Tort Statute of 1789.
The suit alleged that Cisco knowingly developed technology that enabled China's government to surveil and persecute Falun Gong members.
The Alien Tort Statute had been effectively dormant for nearly 200 years before lawyers started to use it in the 1980s to bring international human rights cases, and the Cisco suit questioned whether it can be used to hold corporations liable if they "aid and abet" human rights abuses through "accomplice liability."
The Falun Gong movement was founded in China in 1992, and was banned by the Chinese Communist Party (CCP) in 1999, after thousands of the group's members appeared at the central leadership compound in Beijing to stage a silent protest. The group has called for its members to denounce the CCP and has been heavily critical of its leadership in China.
Justice Amy Coney Barrett authored the majority opinion which supported Cisco's argument that the law doesn't support holding companies liable for aiding and abetting human rights abuses.
"Courts cannot create new rights of action to remedy violations of international law, so there is necessarily no liability for aiding and abetting such violations," Barrett wrote as the ruling dismissed the claims against Cisco.
The Supreme Court's ruling split the justices along ideological lines, with the six conservative justices in the majority and the three liberals dissenting.
Paul Hoffman, a lawyer for the plaintiffs, said they were disappointed with the ruling and called for Congress to take action and create a law "so that victims of serious human rights violations at the hands of U.S. corporations may hold those corporations accountable in U.S. courts under the Alien Tort Statute."
Additionally, the Supreme Court issued an 8-1 decision that a similar law known as the Torture Victim Protection Act of 1991 didn't permit a group of plaintiffs to move forward with a lawsuit that sought to hold two Cisco executives liable for allegedly aiding and abetting torture.
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Plaintiffs accused Cisco of knowingly designing and implementing the "Golden Shield," which is an internet surveillance system used by the CCP to target dissidents, and they say China used the system to track and torture Falun Gong members.
FOX Business reached out to Cisco for comment. The company has called the allegations unfounded and offensive.
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The decision by the 9th Circuit Court of Appeals that was reversed by the Supreme Court had held the plaintiffs demonstrated plausible claims that Cisco provided technical assistance to the CCP and permitted it to proceed to discovery in advance of a trial. The Supreme Court's decision dismissed the lawsuit.
Reuters contributed to this report.
https://www.foxbusiness.com/politics/supreme-court-dismisses-falun-gong-lawsuit-accusing-cisco-helping-china-persecute-religious-movementWharton grad who used to pressure wash homes raises $40M to help plumbers, electricians run businesses with AIGeorge Eliadis, 24, raised venture capital funds from Andreessen Horowitz and Sequoia Capital for Probook, his AI platform for home service businesses.
A Wharton graduate who started out pressure-washing homes with his dad in upstate New York has raised $40 million in venture capital to streamline the operations of mom-and-pop businesses with artificial intelligence.
George Eliadis built Probook, an AI operating system, with the needs of electricians, plumbers and HVAC technicians in mind. He said people running these types of businesses often find it difficult to efficiently dispatch their workers to the dozens of jobs they receive, which means they end up missing out on potential revenue.
"I started Probook to solve a problem in my own business," Eliadis, 24, wrote on his company's website. "I grew up pressure washing in upstate New York with my dad. Six summers in the truck. I spent two to three hours of my day driving between jobs. I’d be up on a ladder washing a house and miss calls because I couldn’t hear my phone ringing."
After demonstrating his platform could boost profits for shops all around the country, Probook was able to raise a $34 million Series A led by Andreessen Horowitz and a $6 million seed led by Sequoia Capital, Fortune first reported.
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Eliadis said that home service businesses have been sold many AI tools over the last three years that operate without input from one another and only create more headaches.
"The problem isn’t AI. It’s that AI sat on top of a fragmented system. That’s what got us here," Eliadis wrote on the company website. "The next decade will…will be won by the platform that runs the customer experience end to end, where AI does the bulk of the work and your team manages the exceptions. Not five tools and three vendors. One platform that runs it all."
Eliadis claims to have built a single platform capable of managing everything from answering calls, cleaning up job data, sending updates to customers.
An Indiana-based repair service with 14 locations and 260 technicians across the Midwest booked 2,873 jobs in their first month on Probook with zero human intervention, according to the company.
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After using Probook for eight months, a similar business in Kansas was able to boost its revenue by 10% per job with a 40% smaller team, the company said.
Probook is also selling directly to private equity firms that are rolling up home service businesses and looking to maximize margins through automation.
From the customer perspective, Sequoia Capital described Probook as an easier, faster way to book repairs for your home.
"Your water heater goes out, and you call a local plumbing company that runs on the platform. Probook’s AI picks up immediately, already knowing each technician’s experience, availability and distance from your home, along with their close rates and ticket sizes. It assigns the right tech to the job, alerts them, and keeps you in the loop with an ETA," Konstantine Buhler, a partner at Sequoia, wrote in a recent blog post.
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The only thing Eliadis hasn't figured out how to deal with going forward is ServiceTitan, the $6.3 billion publicly-traded behemoth that operates in exactly the same field as Probook.
ServiceTitan has its own AI scheduling product, and for now, Probook is listed as a ServiceTitan partner, according to Fortune. This means the two firms work together and don't necessarily compete.
However, the leaders at Andreessen Horowitz and Sequoia Capital believe in Eliadis because he has worked in the trades before, while also having the mindset of a Silicon Valley founder.
"Most founders building for the trades have never worked in them. George has," Buhler told Fortune.
https://www.foxbusiness.com/technology/wharton-grad-who-used-pressure-wash-homes-raises-40m-help-plumbers-electricians-run-businesses-aiDelta CEO Ed Bastian reveals what he says must happen for airline ticket prices to fallDelta Air Lines CEO Ed Bastian says ticket prices will drop when more supply enters the market, citing air traffic control congestion as a bottleneck.
As American travelers feel the pinch of inflation and elevated airline costs, Delta Air Lines CEO Ed Bastian revealed exactly what it will take for ticket prices to decline, pointing directly to a lack of market supply rather than solely fluctuating fuel costs.
"People ask me all the time – what's happening with prices?" Bastian told FOX Business’ Maria Bartiromo in an exclusive interview on Tuesday. "Prices will come down when we can fly more, when there's more supply, it's a supply and demand. Right now we're kind of logjammed."
"There's not a lot of supply we can bring in because the air traffic control system is congested. As you open up the skies, and you bring more flow, that's going to help bring pricing down and enable us to bring more people to more places," he said.
After months of elevated prices due to conflict in Iran and the closing of the Strait of Hormuz, commercial traffic is ramping up in the key waterway after Trump and Iranian President Masoud Pezeshkian last Wednesday signed a 14-point memorandum aimed at ending the war. On Tuesday, President Donald Trump said that 19 million barrels of oil flowed out of the Strait of Hormuz the day prior.
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"I think the initial shock, you know, prices went up about 10 to 15%, not just [at] Delta, across the airline industry. And I think that was probably the right level," Bastian said. "Oil prices have come down now, so I think we're in a pretty good spot."
However, Bastian revealed that rising energy costs directly hit Delta’s bottom line by nearly $2 billion, forcing the airline's hand in raising ticket prices.
"We had no choice," he said, while also spotlighting how government spending accountability and deregulation could also bring ticket prices down.
"We have seen more progress being made to eliminate those bottlenecks and continue to allow aviation to flow smoothly in the last year and a half than we've had probably in the last number of decades. It's that significant," Bastian noted.
"I hope, as an American people, we continue to invest in that future. It's probably the smartest investment that we can make, because what we're doing is, we're making the air flow more smoothly. We're enabling people not just for safety – safety is always our top priority – but [allowing] for more flights," which the CEO says ultimately mitigates customer costs.
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Bastian also discussed how Delta has recaptured investment-grade ratings from all three major credit agencies, won back Berkshire Hathaway as a top shareholder and is expanding localized operations such as "Delta TechOps" into a multibillion-dollar third-party maintenance powerhouse.
"We're going to get to a point here in the next couple of years where our balance sheet will be a fortress balance sheet, something that's never really happened in our industry to that point," he said. "This is the industry that the U.S. holds as the gold standard… So whether it's Boeing, whether it's our airlines, our aviation space, our technical prowess and know-how, we're the gold standard."
Fox News’ Greg Norman-Diamond and Emma Bussey contributed to this report.
https://www.foxbusiness.com/economy/delta-ceo-ed-bastian-reveals-what-he-says-myst-happen-airline-ticket-prices-fallAndrew Cuomo warns Congress is running out of time on blockchain regulation, says families could save on feesFormer Gov. Andrew Cuomo details his role co-chairing an OKX and NYSE parent company venture aimed at lowering costs for consumers through the blockchain.
EXCLUSIVE — Former New York Gov. Andrew Cuomo is taking aim at both legacy financial institutions and Washington gridlock, warning that the U.S. is wasting time on a technology that could significantly lower costs for working-class families.
Speaking exclusively with Fox News Digital about his new role as co-chair of a joint venture between fintech company OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), Cuomo detailed how a shift toward blockchain technology could help reduce costs for consumers by limiting reliance on traditional banking intermediaries.
"This provides basic financial services, you have an account, you can pay bills, you can transfer money. And you don't have to deal with the traditional banking establishment, minimum requirements," Cuomo told Fox News Digital on Tuesday. "There are benefits across the board."
"This is something that has been percolating for a long time, gestating, working through the tension that was first present between these companies and the traditional finance companies. We've now come to a general recognition that it has to be collaboration rather than competition," he continued.
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Cuomo argues that crypto is the latest chapter in America’s financial evolution. Much like the 1929 stock market crash helped lead to the creation of the Securities and Exchange Commission and the Enron scandal prompted corporate reforms, crypto's early days are forcing a shift toward greater oversight. As co-chair of OKX and Intercontinental Exchange's (ICE) efforts to build regulated digital markets, Cuomo said his goal is to merge Wall Street’s compliance framework with crypto's 24/7 technology capabilities to tokenize mainstream equities and futures.
"When it first started, it was, 'crypto was controversial,’" Cuomo pointed out, "but it was never about crypto. It was about the blockchain technology. And I think that's what people missed for a lot of years. They got caught up in crypto and didn't understand the potential of the blockchain."
"The SEC, obviously, is going to have to change with the times, but the blockchain will be so much more time efficient and cost-efficient. You don't need the intermediaries. Literally, you could trade directly, and it can be a 24/7 market, and it can be a global market," he added.
He also addressed the frustration of the average middle-class family that feels pocketbook pain from legacy banking institutions, ATM fees and slow transaction times. By expanding blockchain access through smartphones, he believes the technology can provide financial access to the unbanked and underserved.
"Besides the tokenized securities, in general on this platform, you have a wallet, you can deposit your currency in your wallet, you can make payments from your wallet. And… for the average consumer, that makes a tremendous amount of difference. There are virtually no transaction fees. Payment is direct, payment is fast for the average consumer," Cuomo explained. "And then there are literally billions of people globally who have no access to any financial service."
To unlock blockchain’s full potential, Cuomo is urging Congress to pass the CLARITY Act, which he says would set firm rules of the road.
"You can't claim an industry is the Wild West when there's no sheriff. That's why it's the Wild West, because there's no sheriff and there are no laws," he said. "You don't have more time. The situation is already manifested. Businesses are operating. People are transacting business. This should have been done a decade ago. You don't have the luxury of time. You have to respond, the government has to respond on a timely basis to the situation that is presented. It is happening."
Cuomo further responded to criticism made by traditional financial elites – including JPMorgan Chase Chairman and CEO Jamie Dimon – who claimed the Act fails to meet federal banking standards.
"Now, I think a lot of the traditional finance guys were saying, ‘Well, hold on, this can dramatically change the industry. We need to understand all the consequences for the existing industry, so let's take time because this may upend my business,’" Cuomo said, "but… you’re not putting the blockchain back in the box. It's out there. It is happening. So, yes, the evolution will create disruption in the marketplace, but that is also how you evolve. And what these companies have to get is either you evolve and thrive, or you remain stagnant and die. That's the way of the market."
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The former New York governor and attorney general emphasized how the new venture marries the stability of the NYSE with cutting-edge technology to keep America competitive on the global stage.
"What excites me most is this brings the two giants together… The New York Stock Exchange is the iconic symbol of the American finance system… it just epitomizes the evolution and now the [blockchain] collaboration and the synergy and the partnership."
https://www.foxbusiness.com/markets/andrew-cuomo-warns-congress-running-out-of-time-blockchain-regulation-families-could-save-feesWORLD CUP: ‘FIFA Has Placed Itself on the Side of the Polluters, Not the Rest of the Planet’
CIVICUS speaks about the climate impacts of the 2026 World Cup with Frank Huisingh, founder of Fossil Free Football, a fan-led group that campaigns to end fossil fuel sponsorship in football and make the game more sustainable.
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UNITED NATIONS, June 24 (IPS) - I am honoured to address this High-Level Meeting. I thank very much the President of the General Assembly for her leadership, our Co-Facilitators, and all the Member States for the extraordinary effort that brought us here now.
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Computer wars heat up as Chinese supercomputer tops all US machines in speed for first time since 2017China's LineShine supercomputer surpasses El Capitan for world's fastest on the TOP500 List, the first time since 2020 a U.S. system lost the crown.
A Chinese supercomputer system surpassed an American computer for the world's fastest, according to an industry list published in Hamburg, Germany, on Tuesday, giving China the edge over the U.S. with the fastest supercomputer for the first time since 2017.
LineShine, a system built by the Shenzhen Cloud Computing Center in China, took the crown from El Capitan, a supercomputer housed at the Lawrence Livermore National Laboratory in California, which had reigned supreme since November 2024.
The last time China held the top spot was in 2017, when the Sunway TaihuLight was ranked No. 1. The U.S. had held the top spot consistently since dethroning Japan's Fugaku in 2021.
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LineShine, unlike the majority of high-end supercomputers, is not powered by graphics processing units (GPUs) such as the ones made by chip manufacturer Nvidia. The new compute champion, instead, runs on standard central processing units (CPUs). In total, LineShine runs on over 13 million CPUs, according to the TOP500 List.
The TOP500 List uses a metric called the High Performance Linpack (HPL) benchmark to measure supercomputer performance. Evaluating a computer along this benchmark involves making the system run a protracted series of calculations, pushing the system to its limit in an attempt to ascertain how much computing it can actually do.
"This performance does not reflect the overall performance of a given system, as no single number ever can. It does, however, reflect the performance of a dedicated system for solving a dense system of linear equations," the TOP500 list writes on its website.
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Using this benchmark, TOP500 determined that LineShine performed 20% better than El Capitan.
LineShine's entrance onto the list also made it the fifth supercomputer in the world to demonstrate exascale capacity, meaning it can perform one quintillion calculations per second.
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While China nabbed the top spot, the U.S. still dominated the rankings overall, holding the second, third and fourth spots with El Capitan, Frontier and Aurora.
The Chinese computer's debut on the list comes one day after President Donald Trump signed an executive order related to quantum computing, moving the U.S. to upgrade its efforts in the emerging technology that some experts say will transform the computing landscape.
https://www.foxbusiness.com/technology/computer-wars-heat-up-chinese-supercomputer-tops-us-machines-speed-first-time-since-2017-trump