'It's just scale': Local mom-and-pop car dealerships are growing or dying amid industry consolidation, rise of mega-retailersMultibillion-dollar dealerships have been on the rise amid a decadeslong consolidation that has led to a grow-or-die mentality for many U.S. auto retailers.{}
Spirit Airlines could liquidate as early as this week, sources sayThe carrier is facing the added challenge of a spike in the price of fuel. Fuel is airlines' biggest expense after labor.{}
Netflix was long 'a builder not a buyer.' Is that era over?Netflix co-CEO Ted Sarandos said during an investor call that the company built its "M&A muscle" during its pursuit of WBD's assets.{}
Some grocers are using AI to cut food waste and boost profit marginsGrocers turn to AI pricing to cut waste, protect margins and compete for deal-seeking shoppers—targeting dynamic pricing discounts.{}
Netflix stock sinks after streamer reiterates guidance, says Reed Hastings to exit boardNetflix beat expectations for Q1 revenue and reported a big jump in earnings per share thanks in part to a termination fee related to its proposed WBD deal.{}
Trump nominates Erica Schwartz as CDC director amid turmoil around leadership, vaccine policyThe CDC has been going through turmoil and several leadership shakeups under HHS Secretary Robert F. Kennedy Jr.{}
RFK Jr.'s peptide policy could boost Hims & Hers as its GLP-1 business evolvesHims may have a chance to grow peptides business as a potential revenue driver, with FDA review in 2026 shaping the opportunity.{}
PepsiCo earnings beat estimates as Doritos, Lay's price cuts win back shoppersPepsiCo's quarterly earnings and revenue topped Wall Street's expectations.{}
Airline CEOs urged by lawmaker to lower fares if fuel prices come downAirlines have raised airfare, fuel surcharges and baggage fees this year to help cover a surge in fuel costs since the Iran war started on Feb. 28.{}
How the wealthy are planning to cut their 2026 tax billsLawyers and advisors to the wealthy share tax tactics from long-short equity strategies to front-loading charitable gifts.{}
Why foreign automakers dominate the sedan marketSUVs may have taken over America, but high prices and oversaturation are pushing some customers — and automakers — back to sedans.{}
For cruise lines, Iran conflict and oil prices threaten to dent profitsEven as the industry navigates choppy seas, cruise companies are looking for their next avenues for growth.{}
Goldman Sachs bond traders stumbled as Wall Street rivals thrived: 'A fire is being lit under' themGoldman's identity as a trader's firm — one expected to perform in turbulent markets — makes any stumble in the division notable.{}
Tinder turns to eye scans to weed out bots amid rising concerns over romance scamsTinder partners with World to let users verify they are real people using eye-scanning technology amid a rise in AI-fueled romance scams on dating apps.
Your next date could be AI-verified. Tinder is one of several companies working with World, formerly known as Worldcoin, to let users prove they are human and not robots with the help of eye-scanning technology.
With the increased availability of AI, bad actors have begun using the technology to fuel romance scams across platforms, including dating apps. Tinder warns that romance scammers are often professionals, noting such schemes netted more than $300 million in 2020.
The company outlines common red flags, including quickly pushing conversations off the app, appearing too good to be true or engaging in "lovebombing," avoiding in-person meetings, or requesting personal or financial information.
"World is bringing proof of human into the platforms where people spend their time. From dating to live events to gaming, World ID is becoming the trust layer underpinning the experiences that matter most," the company wrote in a blog post.
In response to a request for comment, World referred Fox Business to materials on its website.
World said in a blog post that it first teamed up with Match Group, Tinder's parent company, to launch a pilot of its World ID technology in Japan. Daters in the U.S. and Japan will soon be able to use "privacy-preserving" verification to ensure they are meeting Mr. Right, not Mr. Robot.
"At Tinder, helping our community feel safe and confident in every connection has always been at the heart of what we do ... Partnering with World ID is a natural next step in that commitment, giving our users a powerful, privacy-preserving way to help know the person on the other end is real," Senior Vice President of Trust & Safety at Match Group Yoel Roth said in a statement.
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World is part of Tools for Humanity, a start-up co-founded by OpenAI CEO Sam Altman. The company's verification technology includes a spherical device known as "the Orb," which uses temporary memory when "verifying humanness," which it does not store, according to Tools for Humanity. There is also a mobile app that allows access to World and World ID.
Users can verify themselves with an Orb device and then receive a badge to show there's a real person on the other side of the screen. World says the verification will allow users to "stand out" with their badge, leading to an "increase in higher-quality connections." Additionally, the company said that, for a limited time, users with a badge will receive five free "Boosts," an app feature that pushes their profile to other users.
Following a request for comment, Tinder directed Fox Business to World’s blog post on the partnership.
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Other companies that have signed on with World to use its "proof of human" technology include Zoom, Docusign, Shopify and Coinbase, among others.
In response to a request for comment, Zoom also referred Fox Business to its press release on the partnership.
Zoom announced its partnership with Tools for Humanity on Friday, saying the verification system could help reduce the risk of "impersonation-driven fraud," something that has become a concern with the rise and improvement of AI.
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The partnerships signal a broader push by companies to use the same technology exploited by bad actors to try to stop scams before they begin.
https://www.foxbusiness.com/media/tinder-turns-eye-scans-weed-out-bots-amid-rising-concerns-over-romance-scamsFord EV chief leaving automaker amid new restructuring effortsThe departure was announced alongside Ford detailing a new restructuring that includes the establishment of a "Product Creation and Industrialization" unit.{}
Starbucks launches beta app in ChatGPT to fuel new drink discoveryStarbucks is trying to find ways to entice U.S. customers back to its cafes.{}
Las Vegas veteran pushes back after HOA reportedly targeted front yard hydrant display: 'The last straw'Las Vegas veteran Brent Saba says his HOA cited him for displaying vintage fire hydrants, including one he brought home from his deployment in Iraq.
A Las Vegas military veteran is pushing back against his homeowners’ association (HOA) after reportedly being cited for displaying vintage fire hydrants tied to his military service and decades-long firefighting career.
Brent Saba — a fire inspector and firefighter — said his HOA recently ordered him to remove three non-operational hydrants placed in front of his home. The association claimed the items violate neighborhood rules governing front and side yard landscaping, according to local outlet KSNV News 3 Las Vegas.
Saba said the hydrants, including one he brought back from Iraq during a deployment, have been on display since he moved into the neighborhood over a year ago without prior issue.
"This hydrant right here, I brought this fire hydrant home from Iraq," Saba said. "I served over in Iraq for about a year, year and a half or so. So that one there was a special piece."
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He added that many of his neighbors support the display, according to KSNV News 3.
"How are they going to tell the guy with over 30 years in the fire service, you got to get rid of your fire hydrants? I mean, it's not like it's clutter," Saba said. "It's not like it's defacing anything. … My neighbors all even think it looks good."
After receiving the citation, Saba said the HOA instructed him to submit an application to keep the hydrants.
Despite providing written support from neighbors, Saba's request was denied. He said he later received additional communication suggesting further homeowner approval might be required, KSNV News 3 reported.
"I'm a fire inspector and when I write up a violation on a building, imagine if I wrote up something that didn't even apply to what the write up was," he said. "I would look like a fool."
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The HOA has since informed Saba he may keep the hydrants, he confirmed Saturday to FOX Business.
"I mean this HOA in this neighborhood is out of control," Saba said. "… The HOA thought that they could bully me and manipulate me."
The dispute has left Saba reconsidering his future in the neighborhood, according to KSNV News 3.
"It was just kind of for me was the last straw," he said. "And I was like, 'I'm not gonna go down without a fight.' I'm hoping things actually improve for this neighborhood."
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Attorney Chad Cummings of Cummings & Cummings Law told Realtor.com that disputes like this are not uncommon.
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"HOA boards misapply their own governing documents all the time, and this case is a textbook example," Cummings said. "The board cited a rule about 'storage items' to regulate what are decorative display pieces. That distinction matters."
The Antelope HOA could not be immediately reached by FOX Business for comment.
https://www.foxbusiness.com/lifestyle/las-vegas-veteran-pushes-back-hoa-reportedly-targeted-front-yard-hydrant-display-last-strawMissed the April 15 tax deadline? Here's what experts say you should doIf you didn’t file your taxes on time, costs can rise quickly. Experts say filing immediately – even without full payment – can reduce penalties.
If you missed the April 15 tax deadline, penalties and interest have already begun to accrue, but there are still actions you can take to limit the impact.
Experts say taxpayers should file immediately, even if they can’t pay their full bill, and pay as much as they can to avoid the steepest penalties. Those who still owe can apply for a payment plan to manage the remaining balance.
The IRS says most applicants receive immediate approval or denial when applying for a payment plan online.
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"You can still file your return and at least eliminate the failure-to-file penalty, which can reach up to 25% of any tax owed, with interest compounding," said Mark Steber, chief tax officer at Jackson Hewitt Tax Services.
The IRS can impose multiple penalties, including failure-to-file, failure-to-pay and underpayment penalties, which are assessed separately and can accrue interest daily, Steber said.
He added that consulting a tax professional early can help taxpayers navigate their options and potentially reduce the total cost.
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"In many cases, the total cost — including taxes, penalties, interest and professional fees — ends up being higher than if you had sought help earlier," Steber said.
"The worst thing you can do is ignore the deadline," he added. "Many people think they’ll deal with it later, but that can lead to mounting penalties and unnecessary financial risk."
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Filing as soon as possible and exploring IRS payment options can help taxpayers regain control of their situation and minimize added costs.
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Steber said taxpayers should view filing as part of a long-term financial strategy, not just a once-a-year obligation.
"Your tax return is one of your largest financial transactions each year," he said. "Giving it proper attention can pay dividends over time."
https://www.foxbusiness.com/politics/missed-april-15-tax-deadline-heres-what-experts-say-you-should-doWalmart is refreshing the look of Great Value, its largest private-label brandThe nation's largest grocer is giving the brand a more modern and colorful spin as other retailers invest in private label.{}
Bank of America tops estimates as CEO Brian Moynihan says consumer banking is 'healthy'Bank of America, the second-largest U.S. bank by assets, has topped expectations for earnings per share for 23 consecutive quarters.{}
Teen investor boom: Why Wall Street is chasing youngest generations earlier than everMajor brokerages are targeting younger investors with teen accounts, competing with platforms like Robinhood to capture the next generation of clients.
Major brokerages are increasingly targeting younger investors, opening the door for teenagers to begin building portfolios years before they traditionally would.
ProCap Financial chief market strategist Phil Rosen joined FOX Business’ Stuart Varney on "Varney & Co." to discuss the shift, framing it as part of a broader industry push to capture the next generation of clients amid changing demographics.
Firms like Charles Schwab and Fidelity have long catered to older investors, but the rise of mobile-first platforms such as Robinhood, which counts a large share of millennial and Gen Z users, has intensified competition. Rosen pointed to that dynamic as a key driver behind the push into teen accounts, as legacy firms look to establish relationships earlier in investors’ life cycles.
"I'm very much in the camp that the younger you are to get into investing, that's a good thing, right, because that could be millions of millions of dollars difference by the time you retire if you start at 15 as opposed to 25," Rosen said.
The trend reflects a broader cultural shift toward financial literacy and early investing, with more young people gaining exposure to markets through apps and social media. At the same time, Rosen cautioned that education remains critical as younger investors navigate increasingly complex and volatile markets.
"If we can get them to avoid those things, then I think it's [a] good thing to get people involved in the markets," Rosen said, warning against speculative trading behavior like meme stocks and short-term options.
As competition heats up, brokerages appear willing to rethink traditional entry points in an effort to secure long-term growth.
https://www.foxbusiness.com/media/teen-investor-boom-why-wall-street-chasing-gen-z-earlier-than-everMeta plans to slash roughly 8,000 jobs next month: reportMeta is reportedly planning to lay off nearly 8,000 employees next month as the tech giant works to offset its rising AI infrastructure costs.
Meta is preparing to cut thousands of jobs as early as next month, with deeper layoffs expected later this year, according to a report.
The tech giant intends to slash roughly 10% of its global workforce — or nearly 8,000 employees — in an initial round of cuts on May 20, sources told Reuters.
The company is also planning additional layoffs in the second half of the year, though details including timing and scope remain unclear, the outlet reported.
The report follows earlier Reuters reporting that Meta was weighing cuts that could affect at least 20% of its workforce as it seeks to offset rising artificial intelligence costs.
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When reached by FOX Business, Meta declined to comment.
Previously, a Meta spokesperson told FOX Business the earlier Reuters report was "a speculative report about theoretical approaches."
The cuts come as Meta looks to offset the cost of AI infrastructure and streamline operations with AI-assisted workers.
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CEO Mark Zuckerberg has invested billions of dollars in artificial intelligence as the company pivots toward the technology.
Meta has also reorganized teams within its Reality Labs division and moved engineers into a new Applied AI group focused on developing AI agents capable of writing code and performing complex tasks, according to Reuters.
Meta employed nearly 79,000 people as of Dec. 31, according to its latest filing.
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A 20% reduction would mark Meta’s largest restructuring since 2022 and early 2023.
The company laid off 11,000 workers in November 2022 — about 13% of its workforce — and cut another 10,000 jobs months later.
Other major companies, including Amazon, have also announced layoffs linked to AI developments.
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Amazon said in January it would cut around 16,000 jobs after previously announcing about 14,000 white-collar layoffs in October, bringing total reductions to roughly 30,000 roles.
Reuters contributed to this report.
https://www.foxbusiness.com/technology/meta-plans-major-layoffs-next-month-more-cuts-expected-reportUnited CEO had been considering a merger last fall, months before bringing it up to the Trump administrationUnited Airlines CEO Scott Kirby has said the next phase for U.S. carriers is figuring out how to better compete on a global stage.{}
Morgan Stanley tops estimates as trading revenue exceeds expectations by nearly $1 billionMorgan Stanley's results in the quarter were powered by the firm's fixed income and equities trading operations, which produced about $8.5 billion in revenue.{}
TV shopping empire behind QVC, HSN files for bankruptcy amid mounting lossesThe parent company of QVC and HSN filed for Chapter 11 bankruptcy as part of a major restructuring plan to slash billions in debt. The company says it will continue normal operations.
The parent company behind well-known shopping channels QVC and HSN has filed for Chapter 11 bankruptcy.
QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, announced the filing in a press release Thursday, saying the company will undergo a restructuring support agreement (RSA) to reduce its debt from $6.6 billion to $1.3 billion.
The goal of the RSA is to emerge from bankruptcy within 90 days.
"The company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured creditors of the filing entities to be paid in full for all goods and services," the press release says.
During this time, QVC Group plans for all of its businesses to operate as normal with no planned layoffs or furloughs as it continues to evaluate its finances.
Both QVC, which stands for Quality, Value and Convenience, and HSN, the Home Shopping Network, have been late-night staples on cable television, although with the popularity of shopping through social media and other technology, the company has acknowledged needing to change its business model.
David Rawlinson, president and CEO of QVC Group, said in the press release he is confident in the company’s ability to recover from the current setback based on the progress it has seen so far.
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"QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy," he said.
"Over the past year, we have become a top seller on TikTok Shop U.S. while expanding our business on streaming and other platforms. We have consolidated our HSN and QVC operations, struck new deals with critical social and media partners and rebalanced sourcing to account for the changing tariff environment.
"With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy," Rawlinson added.
Billionaire John Malone bought QVC in 2003 for $7.9 billion. The brand later acquired HSN in 2017 for $2.1 billion.
https://www.foxbusiness.com/markets/shopping-tv-empire-behind-qvc-hsn-files-bankruptcy-amid-mounting-lossesLARRY KUDLOW: Stocks Melt Up, While President Trump Marches to VictoryThe growing likelihood that some kind of agreement will be made with Iran is driving the markets sky-high.
More good news on President Trump winning the war and the growing likelihood that some kind of agreement will be made with Iran. It’s driving the stock market sky-high.
My guess is improving the animal spirits of all Americans who know the cause to destroy Iran is just but were concerned how difficult it might be.
I continue to call this the Trump miracle. I continue to believe it is providential. Ending the most gruesome government since the Nazis of World War II. It’s such a phenomenal boon to mankind in the cause of peace, freedom and prosperity.
Mr. Trump has unwaveringly delivered on his vision to end the 47-year forever war, to do what no other president in either party quite had the backbone to do.
Mr. Trump, talking to various press organizations, has said a number of things of great importance today.
He has said Iran has agreed to everything and will work with the United States to remove enriched uranium from Iran.
"Our people, together with the Iranians are going to work together to go get it. And then we’ll take it to the United States," he said.
The president also said Iran has agreed to stop backing proxy terrorist groups, like Hezbollah and Hamas. When asked when he would be announcing the deal, Mr. Trump said the two sides are meeting this weekend and that America would continue its blockade "until we get it done."
Of course, trust, but verify.
Especially with Iranians. Mr. Trump knows that.
And even as Iran is suggesting that the Strait of Hormuz will be opened, Mr. Trump is exactly right to maintain the embargo on Iranian ports and shipping.
That embargo is such a powerful weapon. It will bankrupt the government, and starve them out of power if left in place for a bunch of weeks ahead.
And I hope that is what the president does. Keep the embargo. Because we don’t know about Iranian promises. We do not trust them.
And we want to make sure that they are in no position to make any demands in whatever negotiations or agreements take place.
We’re talking unconditional surrender. They must do what Mr. Trump and his national security team tells them to do.
Mr. Trump made another point today, that there will be no need to involve American ground troops.
Now for a transfer of enriched uranium from Iranian hands to American hands, yes there will be some military people.
Yet the key point here, and I think another reason for the big stock market rally vote of approval, is that the blockade means no wider war, no thousands of ground troops on Kharg island, no $200 oil.
That was always the market’s worst case fear.
The economic and financial blockade substitutes for a wider combat role. And it’s so powerful. And I think that’s a key point for the end of the war that will come sooner, and for the tremendous stock market rally — which is not finished.
Today, Mr. Trump posted that "the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete."
In other words, Mr. Trump is maintaining control. And that’s exactly what he should be doing. Because no one can trust Iran. And this whole episode won’t be over until it’s completely over.
Yet America, under one of its very strongest commanders in chief ever, will win this war. And that is a plus for all mankind.
https://www.foxbusiness.com/politics/larry-kudlow-stocks-melt-up-while-president-trump-marches-victoryNearly 60% of U.S. farmers say their finances are getting worse as fertilizer, fuel costs rise: SurveyRising fertilizer costs tied to global shipping disruptions are squeezing U.S. farmers, forcing cutbacks that could reduce crop yields and supply.{}
Lucid names auto industry outsider as CEO, expands Uber dealLucid Group has named the former chairman and CEO of Schindler Group, an industrial manufacturer of escalators and elevators, as its new chief executive.{}
Why lower fertility does not have to mean economic decline
Globally, most people say they want two or more children, but many are having only one, or none at all. According to a senior UN economist, fears of a demographic timebomb are unwarranted.
https://www.globalissues.org/news/2026/04/18/42809 {"url":"https://global.unitednations.entermediadb.net/assets/mediadb/services/module/asset/downloads/preset/Collections/Production%20Library/14-04-2026_UNFPA%20Herrmann.jpg/image100x100cropped.jpg"}Ford recalls nearly 1.4 million F-150 pickup trucks over gearshift issueFord is recalling about 1.4 million F-150 pickups after an NHTSA investigation into unexpected downshifts. Dealers will update PCM software.
Ford is recalling about 1.4 million F-150 pickup trucks in the U.S. following a National Highway Traffic Safety Administration (NHTSA) investigation into reports of unexpected downshifts, the regulator said on Friday.
NHTSA's recall announcement said Ford was aware of two injuries and one accident that were potentially related to the issue, and that dealers would update the trucks' powertrain control module (PCM) software as a remedy.
Earlier this year, the regulator had expanded a safety-related investigation into the issue. A preliminary evaluation was first opened in March last year, after receiving complaints related to the unintended downshifts. Ford's review evaluated trends observed in customer reports, including those involving vehicles driving on wet surfaces or towing trailers.
The vehicle recall covers model year 2015–2017 F-150 pickups equipped with the "6R80" transmission.
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Ford had earlier said that the issue may have been caused by electrical connections wearing down over time due to heat and vibration, leading to signal loss from the transmission range sensor.
The regulatory agency said that incorrect signals likely lead to an unintended downshift.
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Owners of affected F-150 pickups will be notified by mail and instructed to take their vehicle to a Ford or Lincoln dealer to receive a software update for their PCM to remedy the issue.
If an affected vehicle previously exhibited certain diagnostic trouble codes relating to this condition prior to installing the software, dealers will replace the lead frame in accordance with a corresponding extended warranty program. There will be no charge for that service.
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Dealers are expected to be notified on April 15, while interim owner notifications will be sent starting on April 27 with completion by May 1.
The mailing of remedy owner notification letters is expected to begin July 13 and be completed by July 17.
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Ford F-150 owners will be able to see whether their pickup is covered by the recall by searching using their VIN on April 15.
Reuters contributed to this report.
https://www.foxbusiness.com/lifestyle/ford-recalls-1-4-million-f-150-pickup-trucks-over-gearshift-issueFAA to cut flights at major US airport to reduce delaysThe FAA announced scheduling reductions at Chicago O'Hare, limiting daily flights to curb delays and cancellations during the busy summer 2026 season.
The Federal Aviation Administration (FAA) announced on Thursday that it would implement a scheduling reduction at Chicago's O'Hare International Airport after the airlines that serve the airport planned to scale up flights despite significant levels of cancellations and delays.
O'Hare is the busiest airport in the U.S. based on flight volume and had over 3,080 flights planned on peak days for summer 2026, an increase of 14.9% from peak days in summer 2025 when just 60% of arrivals and departures were on time.
The FAA's scheduling reduction will limit O'Hare's daily operations to 2,708 flights to prevent a dramatic increase from last summer's peak daily schedule with the goal of preventing a high volume of delays and cancellations. The flight limitations will be in effect from May 17 to Oct. 24, 2026.
"If you book a ticket, we want you and your family to have the certainty that you'll fly without endless delays and cancellations," said Transportation Secretary Sean Duffy, who added that the FAA will follow a similar template to what it used at another one of the nation's busiest airports as it seeks to streamline O'Hare's operations.
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"We successfully turned Newark Liberty International into the most on-time airport in the Tri-State Area by fixing telecoms issues at record speed and reducing overcapacity," Duffy said.
"Applying that same strategy at O'Hare – where unrealistic schedules were set to dramatically exceed what they could handle – will reduce delays and make this busy summer travel season a little easier," he said.
"Along with our work to modernize air traffic control and boost staffing, the Trump administration is using every tool at its disposal to deliver a safe, efficient, and seamless flying experience," Duffy added.
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The FAA's announcement said that O'Hare's proposed flight volume of 3,080 per day on peak days was an increase of 400 compared with last year.
That proposal came against the backdrop of air traffic controllers dealing with constrained gate capacity and ongoing taxiway closures due to construction.
Airline representatives worked in one-on-one meetings with the FAA to find a balance between scaling back operations at O'Hare and meeting the airline's needs.
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Aside from limiting flight volume at O'Hare, the FAA also said that it's bringing in more air traffic controllers and improving the speed of controller training while optimizing routes and airspace around Chicago to reduce delays. It's also increasing collaborative decision-making (CDM) calls between the FAA, airlines and airports during potential high-risk periods.
"Our number one priority is the safety of the flying public, and that means ensuring airline schedules reflect what the system can safely handle," said FAA Administrator Bryan Bedford.
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"We appreciate the airlines working together with us to reach a responsible level of operations that strengthens safety and delivers a more reliable travel experience for the American public," Bedford added.
https://www.foxbusiness.com/lifestyle/faa-cut-flights-major-us-airport-reduce-delaysJamie Dimon says Anthropic's Mythos reveals 'a lot more vulnerabilities' for cyberattacksThe remarks show how a technology welcomed by corporations as a productivity boon can also pose serious threats, like uncovering new ways to hack into systems.{}
What a United-American merger would mean, from antitrust hurdles to airfareUnited Airlines CEO Scott Kirby reportedly floated a potential merger with Trump administration officials earlier this year.{}
Blackstone’s Joan Solotar says investors should separate ‘signal from the noise’ in private creditJoan Solotar, global head of Blackstone Private Wealth, said the capital flight from private credit isn't justified by the likely returns and potential losses.{}
Citigroup beats estimates, boosted by gains in fixed incomeCitigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.{}
JPMorgan tops estimates on Wall Street results, Dimon flags 'increasingly complex' economic risksJPMorgan CEO Jamie Dimon called the economy resilient, but pointed to an "increasingly complex set of risks" across global markets.{}
Goldman Sachs tops estimates on record equities tradingGoldman Sachs posted record equities trading revenue for the first quarter, helping propel the overall firm to its second-highest quarterly revenue.{}
Steak and seafood chain 801 Restaurant Group files for bankruptcy after closing Denver, Minneapolis spots801 Restaurant Group, which operates steak and seafood restaurants in several states, has filed for Chapter 11 bankruptcy reorganization in Kansas.
A Kansas-based restaurant group with several steak and seafood locations in Kansas, Missouri, Minnesota, Colorado, Virginia, Nebraska and Iowa, has filed for bankruptcy.
801 Restaurant Group LLC filed for Chapter 11 reorganization last Friday in U.S. Bankruptcy Court in Kansas, the company confirmed to Fox Business.
The business owns several companies that operate restaurants as 801 Chophouse, 801 Fish and 801 Local.
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"The companies that own and operate the restaurants are not in bankruptcy, and there are no plans or need for them to file bankruptcy," 810 Restaurant Group said in a press release.
"The individual restaurant companies operating successfully are not impacted by the 801 Restaurant Group's Chapter 11 filing."
The company added that it became necessary to restructure because of guarantees it made to other companies it owns, including 801 Fish in downtown Denver and 801 On Nicollet in Minneapolis, which have both closed.
"The purpose of the Chapter 11 is to restructure these and other obligations for which 801 Restaurant Group has liability," the release said.
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The court filing shows liabilities totaling roughly $18.7 million, according to documents obtained by Fox Business.
The company said the filing is "not expected to have any impact on the remaining locations," which will operate normally during their restructuring.
The restaurants that remain open include 801 Chophouses in Denver, Des Moines, Omaha, Kansas City, Leawood, St. Louis, Minneapolis and Tysons Corner in the Washington, D.C., area, and 801 Fish in St. Louis.
The Des Moines restaurant was the original 801 Chophouse location, which opened in 1993.
https://www.foxbusiness.com/economy/steak-seafood-chain-801-restaurant-group-files-bankruptcy-after-closing-denver-minneapolis-spotsWalmart to remodel over 650 stores, open about 20 new locationsWalmart plans to remodel over 650 stores across the U.S. and open about 20 new locations in 2026 and early 2027 to improve customer convenience.
Walmart announced that it's planning to remodel more than 650 of its stores around the U.S. while it also will open about 20 new stores in 2026 and early 2027.
The retail giant said on Thursday that the plan builds on its 2024 commitment to open or convert over 150 new locations while updating its existing store portfolio.
"This investment is intended to create jobs, help strengthen local economies, and make shopping faster and more convenient for our customers," Walmart said, adding that the new stores and remodels will drive construction jobs during the projects while creating long-term roles in retail, pharmacy and store leadership.
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Among the changes that customers may notice at updated stores are wider aisles and updated layouts, new displays with expanded assortments, more pickup and delivery service options including express delivery, refreshed interiors and exteriors with improved parking and landscaping, plus new digital touchpoints to show the company's online assortment for in-store shoppers.
The remodels will also update Walmart's vision centers and pharmacies with private consultation rooms.
Walmart's Neighborhood Markets will see expanded deli and hot bar selections, pharmacy delivery options, improved lighting and fixtures, as well as upgraded areas for fulfilling online grocery orders.
Select Neighborhood Markets are being updated through a rapid remodel program that aims to complete the project quicker with minimal customer disruption.
WALMART CUSTOMERS SEEKING VALUE DRIVE SALES HIGHER
"Our goal is simple: we want shopping to feel easy, intuitive, and connected while continuing to deliver the everyday low prices our customers expect," Walmart said.
The company's announcement noted that this year it already opened new Walmart Supercenters in Eastvale, California, along with Apollo Beach, Jacksonville, and The Villages, Florida. It also opened a Walmart Neighborhood Market in Ocala, Florida.
Later this year, Walmart said that it will expand its Supercenter in Tucson, Arizona, while opening a new Supercenter in Celina, Texas. Walmart also noted that it opened nine new stores across Alabama, California, Florida, New Jersey, Texas and Utah in 2025.
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The retailer's announcement on store remodels and openings comes after it announced on Wednesday that it was moving forward with a sweeping redesign of its flagship Great Value label, covering nearly 10,000 food and household products.
The effort marks the brand's first full refresh in over 10 years and is the largest private-label update in Walmart's history.
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FOX Business' Sophia Compton contributed to this report.
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Elon Musk backs ‘universal high income’ to combat AI job lossesEconomists push back on Elon Musk's universal high income proposal, warning it could bankrupt governments and fail to prevent AI-driven inflation.
Elon Musk turned heads Friday when he suggested that the federal government paying citizens a "universal high income" is the best way to combat AI-related job losses.
"Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI," Musk said in a post on his own X platform shortly after midnight Friday morning.
The proposal, which is still pinned to the top of his X account, rebuffed the idea that such payments would be inflationary.
"AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation," he wrote.
ANDREW YANG WILL GIVE AWAY $1K PER MONTH TO 20 AMERICANS TO PROMOTE UBI
Many economists, however, disagreed.
"He is so wrong on this," wrote Sanjeev Sanyal, the former top economic advisor to India's Minister of Finance.
"AI will certainly cause dislocation, but like all technology it will also create new jobs and opportunities in the medium term. AI and robots will also not produce goods and services in excess of money or demand that there will be no inflation," he wrote on X.
"Elon Musk's universal high income will bankrupt any government that attempts it," he concluded.
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Another skeptic, Pratyush Rai, the co-founder and CEO of Merlin AI, concurred.
"The basic math on UHI (Universal High Income) doesn't add up. If everyone gets a high income check, everyone's competing for the same houses, land, schools, lifestyle," he posted on X.
Some, however, are more hopeful that the plan could have merit.
Former Democratic presidential hopeful Andrew Yang chimed in with tepid support. Yang, who popularized a similar idea of Universal Basic Income (UBI) during his 2020 campaign, tweeted: "It’s clear that AI will wind up funding universal income. Let’s make that happen ASAP."
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Universal high income (UHI) is a significant leap from Yang's UBI. While UBI serves to support a person's basic needs while continuing to work, many who promote UHI preach a departure from the need to work entirely.
https://www.foxbusiness.com/fox-news-tech/elon-musk-backs-universal-high-income-combat-ai-job-lossesNetflix co-founder Reed Hastings to step down, departure is 'spooking investors'Netflix co-founder and current board of directors chair Reed Hastings is going to leave the streaming company's board, the business has noted.
Netflix co-founder Reed Hastings will not seek re-election to the company's board.
He is currently the chair of the streaming entertainment giant's board of directors.
"Reed Hastings has informed us that he will not stand for re-election to our Board when his current term expires at the Annual Meeting in June, in order to focus on his philanthropy and other pursuits," the company wrote in a recent Securities and Exchange Commission report.
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"Reed built a culture of innovation, integrity and high performance that defines who we are today. His vision and leadership pioneered how the world is entertained, and his legacy and impact are not only felt by all of us at Netflix, but by audiences around the world. On behalf of the Board and our shareholders, we extend our deepest thanks for his extraordinary leadership and service," Netflix added.
Rich Greenfield of LightShed Partners and LightShed Ventures told CNBC that Hastings' exit "is spooking investors."
NETFLIX FOLLOWS WARREN BUFFETT'S PLAYBOOK: DON'T OVERPAY, WALK AWAY
The company's stock price took a nosedive after the market close on Thursday, falling about 10% as of Friday morning prior to the market open.
Hastings noted, "Netflix changed my life in so many ways, and my all‑time favorite memory was January 2016, when we enabled nearly the entire planet to enjoy our service."
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"My real contribution at Netflix wasn’t a single decision; it was a focus on member joy, building a culture that others could inherit and improve, and building a company that could be both beloved by members and wildly successful for generations to come. A special thanks to Greg and Ted, whose commitment to Netflix’s greatness is so strong that I can now focus on new things," he added, referring to the company's co-CEOs Ted Sarandos and Greg Peters.
https://www.foxbusiness.com/business-leaders/netflix-co-founder-reed-hastings-step-down-departure-spooking-investorsOil prices plunge after Iran says Strait of Hormuz open for commercial shipping trafficOil prices dropped over 10% after Iran's foreign minister announces the Strait of Hormuz is open to commercial traffic for the Israel-Lebanon ceasefire.
Oil prices plummeted more than 10% on Friday after Iran's foreign minister said that the Strait of Hormuz will be open to all commercial shipping traffic for the duration of the ceasefire between Israel and Lebanon.
Prices for West Texas Intermediate crude fell over 10% to under $85 a barrel, while Brent crude oil prices dropped more than 10% to around $89 a barrel.
The plunge in oil prices comes after Iranian Foreign Minister Abbas Araghchi said the Strait of Hormuz was open for all commercial vessels for the remainder of the 10-day ceasefire between Israel and Lebanon. The ceasefire began on Thursday, and President Donald Trump told reporters the ceasefire would include Iran-backed Hezbollah.
EUROPE HAS 'MAYBE 6 WEEKS' OF JET FUEL LEFT AMID HORMUZ BLOCKADE, ENERGY AGENCY CHIEF SAYS
Trump said in a post on his Truth Social platform that the Strait of Hormuz is "COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE."
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Oil prices surged over $100 a barrel since the Iran war began a month and a half ago, with WTI prices peaking at nearly $113 a barrel on April 6 and Brent crude prices reaching more than $119 a barrel on March 30.
Brian Therien, a senior analyst for investment strategy at Edward Jones, noted, "While U.S. restrictions on Iranian ports remain in place, oil futures markets are also retreating, now implying crude prices could move back toward the low $70s by year-end. If realized, falling oil prices should help ease headline inflation and help reduce pressure on energy-intensive sectors."
The oil price shock occurred after the Strait of Hormuz was effectively closed to commercial shipping amid the conflict due to the threat of Iranian attacks and mines.
The Strait of Hormuz is a key chokepoint between the Persian Gulf and Arabian Sea, as about one-fifth of the world's oil and liquefied natural gas transits through it to destinations around the world.
TRUMP SAYS IRAN WAR IS 'VERY CLOSE TO BEING OVER' AS PEACE TALKS ARE EXPECTED TO RESUME
A senior Iranian official told Reuters that ships transiting the strait during the ceasefire will travel through designated lanes that Iran deemed safe for navigation, while naval vessels will be excluded from transiting.
Shipping companies have expressed the need for more details about the announcement before resuming normal operations in the strait.
German shipping company Hapag-Lloyd said it was refraining from passing through the strait while assessing the announcement, though it may begin transits soon.
Knut Arild Hareide, CEO of the Norwegian Shipowners' Association, told Reuters that if the announcement "represents a step towards an opening, it is a welcome development."
"However, the situation remains unresolved, with a number of outstanding uncertainties, including questions related to the presence of sea mines, applicable Iranian conditions, and practical implementation," Hareide added. The Norwegian group represents 130 companies with about 1,500 vessels operating globally.
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The International Monetary Fund lowered its growth outlook for the global economy this week due to the shipping disruptions, with emerging market and developing economies taking a bigger hit than advanced economies due to the conflict.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/oil-prices-plunge-after-iran-says-strait-hormuz-open-commercial-shipping-trafficTaking a train to World Cup games at MetLife Stadium will cost $150NJ Transit will charge $150 for round-trip tickets from New York's Penn Station to MetLife Stadium for FIFA World Cup games this summer.
Fans planning to use New Jersey's NJ Transit to travel from New York City to MetLife Stadium for FIFA World Cup games this summer will have to pay $150 for a round-trip ticket, officials confirmed on Friday.
The fare would apply to fans taking NJ Transit's rail service from New York City's Penn Station to MetLife Stadium, with a stop at Secaucus station.
News of the pricing was first reported by The Athletic.
Ordinarily, the fare for that route would cost $12.90 for a return ticket, which the report noted was the same pricing transit authorities used last year during the FIFA Club World Cup. The Club World Cup is for professional club teams, unlike this summer's World Cup, which will feature national teams.
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NJ Transit typically discounts prices for seniors, children and disabled passengers. The transit agency will have one price that applies to all groups of passengers for the World Cup.
Eight World Cup matches will be held at MetLife Stadium, including the final match of the competition on July 19.
The intense demand among World Cup riders has prompted NJ Transit to announce that only ticketholders for World Cup matches will be permitted on Meadowlands Rail service. Additionally, on match days only game attendees will be permitted to enter the NJ Transit portion of Penn Station for four hours prior to kickoff.
The Athletic previously reported that the Massachusetts MBTA planned to raise the price of a return ticket from Boston to Gillette Stadium in Foxboro from the $20 fare charged for NFL games to more than $75 for the World Cup matches held at the venue this summer. The MBTA announced an $80 return ticket last week.
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FOX Sports will serve as the exclusive English-language home in the U.S. for FIFA World Cup 26 matches, which will be played at venues across the U.S., Mexico and Canada.
The World Cup will run from Thursday, June 11, through Sunday, July 19, with all 104 matches broadcast live across FOX, which will air 69 matches, and FS1, which will have 35 matches.
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World Cup matches will also be streamed live on FOX One and the FOX Sports App.
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DoorDash’s new ad tools could change how restaurants compete for customersDoorDash is introducing new ad tools aimed at helping restaurants better target customers, increase order values and track sales growth.
DoorDash is rolling out new advertising features to help restaurants find customers who are more likely to order from them, bring in new diners and expand their business more efficiently.
In a news release shared by the company on Thursday, three new tools have been added to the online food ordering/delivery platform to help restaurants quickly gain regular customers.
"Restaurant brands want to reach customers who will genuinely enjoy their food and hospitality and keep coming back over time," Vassili Samolis, VP of ad products & AI foundations at DoorDash, said in the release.
"We built these tools to help restaurants connect with the right audience and better understand which menu items, promotions and experiences are driving results so they can make smarter decisions, invest with confidence and grow their business on DoorDash."
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One of the tools is called Brand Interest Targeting, which allows restaurants to show ads to people who already like similar food or brands.
In tests, ads using this feature performed better, bringing in over 14% more return on ad spend compared to ads without targeting, according to the news release.
DoorDash also introduced the Brand Sales Growth tool that shows how a restaurant’s sales are growing compared to similar businesses. It specifically looks at trends from the past three months and helps restaurants understand whether their ads are actually helping them grow.
The platform has additionally introduced Average Ticket Sizing Reporting, allowing restaurants to target customers based on how much they usually spend.
GRUBHUB LAUNCHES FIRST-EVER COMMERCIAL DRONE FOOD DELIVERY SERVICE IN NEW JERSEY
For example, a restaurant can focus on customers who tend to place bigger, higher-value orders — not just more orders.
The news release reported that, in early tests, targeting high-spending customers increased order size by over 35% and delivered much better returns compared to untargeted ads.
Taken together, the tools signal a shift toward more data-driven competition on the platform, where success may depend less on broad visibility and more on how precisely restaurants can target the right customer.
https://www.foxbusiness.com/retail/doordashs-new-ad-tools-could-change-how-restaurants-compete-customersMore than 50,000 toys pulled from shelves over batteries that pose 'death' risk to childrenOver 50,000 toys are being recalled nationwide, with federal regulators warning that unsecured button cell batteries can pose a deadly ingestion hazard for children.
More than 50,000 pet laser toys are being recalled across the U.S. after officials warned they pose a "serious risk of injury or death" to children.
The recall affects about 51,160 "Lil’ Buddies Pet Laser Toys" sold by Los Angeles-based JC Sales. The products fail to meet mandatory safety standards for items containing button cell and coin batteries, according to a Thursday notice from the United States Consumer Product Safety Commission (CPSC).
The agency said the toys have a dangerously unsecured battery compartment, allowing small batteries to become easily accessible to children.
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"The recalled pet toys violate the mandatory standard for consumer products with button cell and coin batteries because the battery compartment is not secure, making the button cell batteries easily accessible to children, posing a deadly ingestion hazard," the notice states.
Officials also noted the products were not sold in child-resistant packaging and lack the required hazard warnings.
Button cell and coin batteries can be extremely dangerous if swallowed, potentially causing internal burns, serious injuries or death, according to the notice.
5,000 INFANT CAR SEATS SOLD AT TARGET, WALMART RECALLED DUE TO INJURY RISK
The affected toys — which feature model number 24496 — are white with blue paw print designs and were sold with three button cell batteries included.
Manufactured in China, they were sold nationwide at retailers including VR Wholesale in Arizona and Viva Bargain in California, as well as online at jcsalesweb.com, from February 2023 through November 2025 for about $1.
No injuries have been reported to date.
350K SUPPLEMENTS RECALLED FOR PACKAGING FLAW THAT POSES ‘SERIOUS INJURY OR DEATH’ RISK TO CHILDREN
Consumers are urged to stop using the recalled products immediately and contact JC Sales for a full refund.
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The recall comes amid a string of recent consumer product safety alerts.
More than 5,000 Graco infant car seats sold at Target, Walmart and other major retailers are also being recalled nationwide after the company and federal regulators flagged a potential injury risk linked to the seat base.
https://www.foxbusiness.com/lifestyle/more-than-50000-toys-pulled-shelves-batteries-pose-death-risk-childrenSuspects convicted for insurance fraud after staging costume bear attacks in luxury vehicles caught on cameraThree Los Angeles-area residents were convicted after allegedly staging fake bear attacks on luxury vehicles using a costume to collect more than $140,000 in insurance payouts.
Three Los Angeles-area residents were recently convicted in an unusual insurance fraud scheme using a person in a bear costume to fake attacks on high-end vehicles to collect insurance payouts.
As part of the California Department of Insurance's Operation Bear Claw, Alfiya Zuckerman, 39, of Valley Village; Ruben Tamrazian, 26, of Glendale; and Vahe Muradkhanyan, 32, of Glendale, pleaded no contest to felony insurance fraud and were sentenced to 180 days in jail and two years of supervised probation and were ordered to pay restitution.
A fourth suspect, Ararat Chirkinian, 39, of Glendale, is scheduled to return to court in September for a preliminary hearing.
PERSON IN BEAR COSTUME ATTACKS LUXURY CARS IN INSURANCE SCAM, CALIFORNIA INSURERS SAY
The investigation began after an insurance company flagged a suspicious claim tied to a Jan. 28, 2024, incident in Lake Arrowhead.
The suspects claimed a bear entered their 2010 Rolls-Royce Ghost and caused interior damage, submitting video footage as evidence.
Detectives later determined the "bear" in the video was a person wearing a bear costume and uncovered two additional fraudulent claims submitted to separate insurance companies involving the same date and location but tied to a 2015 Mercedes G63 AMG and a 2022 Mercedes E350.
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A biologist from the California Department of Fish and Wildlife reviewed the video and concluded the animal shown was "clearly a human in a bear suit," according to authorities.
Detectives executed a search warrant and recovered the costume from the suspects’ home.
Officials said the total loss to the insurance companies was $141,839, though the names of the businesses were not released.
"What may have looked unbelievable turned out to be exactly that, and now those responsible are being held accountable," Insurance Commissioner Ricardo Lara wrote in a statement Thursday. "My Department’s investigators uncovered the facts, exposed this scam and helped bring these defendants to justice.
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"Insurance fraud is a serious crime that drives up costs for consumers, and no scheme is too outrageous for us to investigate."
https://www.foxbusiness.com/fox-news-crime/suspects-convicted-insurance-fraud-staging-costume-bear-attacks-luxury-vehicles-caught-cameraXanax XR recalled after discovery that tablets may fail to release medication properlyA batch of Xanax XR has been recalled nationwide after the manufacturer found the drug may not release properly in the body. The FDA classified the issue as moderate risk.
A batch of Xanax XR is being recalled nationwide after the manufacturer found it may not release the medication in the body as intended.
Viatris, Inc. initiated the voluntary recall for ALPRAZolam extended-release tablets, 3 mg, distributed in 60-count bottles under lot number 8177156 with an expiration date of Feb. 28, 2027, according to the U.S. Food and Drug Administration.
Xanax XR is a benzodiazepine used to treat panic disorder and anxiety in adults.
The issue was classified as a Class II recall, meaning it may cause temporary or medically reversible health effects but is unlikely to result in serious harm.
350K SUPPLEMENTS RECALLED FOR PACKAGING FLAW THAT POSES ‘SERIOUS INJURY OR DEATH’ RISK TO CHILDREN
"Failed dissolution specifications" indicate the tablets may not dissolve and release the medication at the intended rate. Because Xanax XR is designed to release gradually over time, any variation could affect how the drug is delivered in the body — and how well it works.
The affected product was distributed nationwide in the United States, though the recall applies only to the specific lot identified. The FDA lists the recall as ongoing, with no termination date yet announced.
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A spokesperson for Viatris told FOX Business the recall is limited in scope and does not pose a significant risk to patients.
"The voluntary recall of Xanax XR in the U.S. is specific to one lot of one strength (3mg) of the brand product only, and 51 bottles were distributed to U.S. wholesalers between Aug. 27, 2024, and May 29, 2025," the spokesperson said. "No other batches of the Xanax XR brand product, or its generics, are impacted."
The spokesperson added that most patients in the U.S. are prescribed generic ALPRAZolam, which is not affected by the recall.
"The risk to the patient associated with this event is considered to be negligible. To date, no reports of adverse reactions associated with this lot have been received," the spokesperson said.
Viatris said the recall is being conducted at the retail level, meaning pharmacies and wholesalers have been instructed to return the affected product.
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"Patients do not need to take any action," the spokesperson said.
https://www.foxbusiness.com/markets/xanax-xr-recalled-discovery-tablets-fail-release-medication-properlyThe Grocery Bill Is Calm – The AgriFood System Is Not
ROME, April 17 (IPS) - The headlines are wrong about food prices — but right to be afraid, very afraid. Walk into a supermarket in Chicago, Berlin, or Mumbai today, and you will not find the shelves stripped bare or the prices dramatically higher than last month. Despite weeks of alarming headlines about commodity markets, food inflation in most major economies has risen only marginally — a tenth or two-tenths of a percentage point between February and March of this year. In the United States, food inflation moved from roughly 2.9 percent to 3.1 percent. In Germany, from 0.8 to 0.9. In India, from 7.8 to 8.0.
Read the full story, “The Grocery Bill Is Calm – The AgriFood System Is Not”, on globalissues.org →
https://www.globalissues.org/news/2026/04/17/42795 {"url":"https://static.globalissues.org/ips/2026/04/wheat-100x100.jpg"}Global Shocks Push Geoeconomics to the Center Stage at Foreign Policy Forum
SRINAGAR, India, April 17 (IPS) - As war in the Middle East ripples through global markets, policymakers, economists, and industry leaders gathered in Washington this week to agree that economics is no longer separate from geopolitics. It is now its core instrument.
https://www.globalissues.org/news/2026/04/17/42794 {"url":"https://static.globalissues.org/ips/2026/04/Frank-McCourt-founder-of-Project-Liberty-speaking-with-Foreign-Policy-CEO-Andrew-Sollinger-at-the-Geoeconomics-Forum-100x100.jpeg"}LARRY KUDLOW: Trump’s Iran MiracleA remarkable personal triumph for the president and his steadfast vision of peace in the Middle East and around the world.
President Trump’s remarkable half-hour news gaggle covered so much ground and so knowledgeably. I doubt if there’s another president like it in my lifetime that could have done that.
Mr. Trump’s message, as I heard it, is that the war in Iran is over. We have destroyed them militarily and the brilliant blockade strategy is destroying them economically and financially.
Iran as a nuclear and terrorist power is over.
All the critics have been proven wrong. Mr. Trump has been proven right. He is probably our greatest commander in chief since World War II, when FDR and Eisenhower and Marshall and Churchill defeated Nazi Germany.
What we have here is a miracle.
Actually, it’s an Easter–Passover miracle. Let us not forget our great Israeli ally, Prime Minister Benjamin Netanyahu.
This is a remarkable personal triumph for Mr. Trump and his steadfast vision of peace in the Middle East and around the world.
And it is also a remarkable triumph for Mr. Trump’s policies, especially the phenomenal execution of these policies by our mighty military.
That Mr. Trump is able to bend the arc of history to his vision of peace and destroy Iran is remarkable.
And yes, I believe in miracles. And I believe that the Iran victory was providential.
Let’s come to the blockade, which is so important and will lead to the economic and financial collapse of Iran. A brilliant Trump decision.
As Mr. Trump put it: "the blockade has been incredible. It’s held and they’re not doing any business. They’re unable to do any business because of the blockade. And so the combination of having no Navy, having no air force, having no anti-aircraft equipment, they have nothing. Everything is gone, including their leaders."
He added that "the blockade is maybe more powerful than the bombing, if you want to know the truth."
With no oil and no money, Iran has nothing left to stand on in any negotiation. And I hope the embargo continues for a while.
Iran will have to shutter their oil fields, the Islamic Revolutionary Guard Corps won’t even make payroll in another few days, the Rial currency is worthless, without trade there’s no foreign currencies to substitute and it’s the end game.
That by the way is why stock markets are doing so well.
General Jack Keane is right to say there must be no concessions to Iran, no lifelines, no help at all until they prove that their behavior is really changing. That will take a while.
It is essentially unconditional surrender where the enriched uranium in Iran must be handed over to American forces and, to be sure, the Strait of Hormuz must be reopened.
Yet the United States will control Hormuz for a while. When Mr. Trump doubled down on the blockade, it was game, set, match. Also he found time to push his pro-growth tax cuts.
"What’s happening," he said, "is people are finding out that in their tax returns they’re getting a big refund much bigger than they thought. So it’s no tax on tips, no tax on Social Security, no tax on overtime."
Mr. Trump added: "I think it’s a wait wait wait wait. I think it’s going to be amazing," and "if you look at what they’re doing in New York and California, they’re raising taxes and they’re driving people out."
And for heaven’s sake the pope should be thrilled that peace is breaking out in the Middle East.
Actually, the whole word should be saluting Mr. Trump for his vision and his faith.
https://www.foxbusiness.com/politics/larry-kudlow-trumps-iran-miraclePepsiCo revenues soar after slashing prices on Lay’s, Doritos amid 'holistic' company transformationPepsiCo CEO Ramon Laguarta says price cuts of up to 15% on snacks like Lay's and Doritos helped drive the company's first growth in more than a year.
Food and drink giant PepsiCo is seeing significant gains after lowering prices on its signature snacks and beverages earlier this year to lure back cost-conscious consumers.
In February, the company slashed prices by up to 15% on its signature snacks, including Lay’s and Doritos, as Americans tightened their budgets amid persistently high costs.
PepsiCo CEO Ramon Laguarta told FOX Business anchor Liz Claman Thursday the strategy helped consumers financially and helped drive the company’s first growth in more than a year.
"It was a holistic transformation of the business. Price was one element," he said on "The Claman Countdown". "We thought that consumers needed more value given the economic situations."
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PepsiCo recently reported revenue growth of 8.5% and a profit rise of 27% since slashing prices.
"We increased consumption volume by 2% in our food business in North America, units 4%, almost 300 million new occasions in this first quarter," Laguarta explained. "So, we're very pleased with the overall transformation of the business."
Laguarta revealed the food and beverage giant is addressing new consumer standards as Americans lean towards less-processed foods and learn the risks associated with artificial ingredients like food dyes, commonly found in PepsiCo snacks.
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The CEO said PepsiCo is "innovating" to meet evolving consumer preferences, cutting sugar in drinks like Gatorade, and removing artificial dyes from snacks like Cheetos.
"We're very optimistic about where we're going in that part of the business," he said.
PepsiCo launched Cheetos Simply NKD late last year, offering consumers a color-free alternative to the popular snack. He said it maintains the same flavor without artificial additives and without increasing costs.
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Laguarta said such innovation has been "well received" by consumers, pledging that PepsiCo will continue to expand those efforts.
"We're seeing moms with little children that they're saying, ‘Okay, now I can give my children my favorites, and I'm feeling good about it.’ So, this is a platform that now we're taking everywhere."
Laguarta also addressed the "shrinkflation" as consumers grow frustrated with forking up more money for less product from food companies.
"We're pleased with the execution of our pricing strategy, the fact that we're giving consumers more value, especially in our multipacks and our multi-serve," he told FOX Business.
https://www.foxbusiness.com/media/pepsico-revenues-soar-after-slashing-prices-lays-doritos-amid-holistic-company-transformationAfrica’s Future Depends on Innovation, Data, and Frontier Technologies
ADDIS ABABA, Ethiopia, April 17 (IPS) - Across the continent, GDP has risen on the back of more workers, more capital and a commodity super-cycle, rather than through genuine gains in productivity and innovation. Too little labour has moved out of subsistence agriculture into higher-productivity manufacturing and modern services.
https://www.globalissues.org/news/2026/04/17/42793 {"url":"https://static.globalissues.org/ips/2026/04/A-group-of-young-people_-100x100.jpg"}Bridging Knowledge Systems: How Pacific Communities Are Reclaiming Climate Solutions Through Nature
NAIDIRI, FIJI, April 17 (IPS) - Climate change is no longer a distant threat. Across the Pacific, it is a daily reality reshaping coastlines, livelihoods, and the delicate balance between people and the environment. But in a region long defined by resilience, solutions are not being invented from scratch. They are being remembered, strengthened, and scaled.
https://www.globalissues.org/news/2026/04/17/42791 {"url":"https://static.globalissues.org/ips/2026/04/women-main-100x100.jpg"}Allbirds drops sneakers, reinvents itself as an AI infrastructure companyAllbirds plans to rebrand as NewBird AI and acquire GPUs to provide AI compute infrastructure after selling its footwear brand for $39 million to American Exchange Group.
Allbirds on Wednesday announced that the company will pivot from making sneakers to providing computing infrastructure for artificial intelligence (AI).
The San Francisco-based company said it will execute a $50 million convertible financing agreement with an institutional investor to begin acquiring graphics processing units (GPUs), which can be used to train AI models.
The company also plans to rebrand itself as "NewBird AI" and eventually shift its focus to offering cloud computing capacity and AI services, though it didn't provide additional details on those plans.
Allbirds has closed most of its brick-and-mortar stores in recent months amid soft demand and the company's focus on online partnerships. The company said last month that it had sold its brand and footwear assets to American Exchange Group for $39 million.
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"As a result of these transactions, the Allbirds brand and legacy will continue under the ownership of American Exchange Group for the benefit of all of its customers, investors as of the dividend record date will receive a special dividend, and investors who elect to continue to hold NewBird AI stock will be invested in a growing AI compute infrastructure business," the company said in a press release.
NewBird AI is planning to use initial capital from the financing agreement to acquire high-performance GPUs that will be used to provide dedicated access to AI compute capacity for customers.
Over the long term, NewBird AI wants to provide GPUs as a service as well as AI-powered cloud solutions to its customers, including through the growth of its neocloud platform, while also evaluating strategic opportunities for mergers and acquisitions.
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Allbirds' stock surged on Wednesday following the announcement, rising from a closing price of $2.49 a share as of Tuesday to a recent peak of $21.95 a share during Wednesday's trading session.
The stock pared some of its gains on Thursday and is trading at around $12.30 a share, down 27.5% on the day but up 379% in the past five days. Despite that uptick, the stock is down more than 97% in the last five years.
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The company's announcement explained the opportunity it sees in the AI space, noting that the "rise of AI development and adoption has created unprecedented structural demand for specialized, high-performance compute that the market is struggling to meet. Global enterprise spending on AI services and data center investment are on the rise."
"At the same time, GPU procurement lead times are increasing for high-end hardware, North American data center vacancy rates have reached historic lows, and market-wide compute capacity coming online through mid-2026 is already fully committed. The result is a market where enterprises, AI developers, and research organizations are unable to secure the compute resources they need to build, train and run AI at scale."
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"NewBird AI is being built to help close that gap. The Company will initially seek to acquire high-performance, low-latency AI compute hardware and provide access under long-term lease agreements, meeting consumer demand that spot markets and hyperscalers are unable to reliably service," it added.
Reuters contributed to this report.
https://www.foxbusiness.com/markets/allbirds-drops-sneakers-reinvents-itself-ai-infrastructure-companySocial Security’s next COLA projection might not go as far as retirees hopeA new analysis projects Social Security's 2027 cost of living adjustment at 2.8%, potentially raising the average retiree benefit by about $57 per month.
American retirees who are receiving Social Security will see an annual cost of living adjustment (COLA) next year, and a new report projects that next year's benefit increase may be smaller than many retirees expect.
A new analysis by The Senior Citizens League (TSCL) predicts that Social Security's 2027 COLA will be 2.8%, which would be the same benefit boost as the 2026 COLA.
That would amount to an increase in the average Social Security benefits check for retired workers of $56.69, raising the benefit from $2,024.77 to $2,081.46 per month.
"Americans are right to worry about our current COLA projection," said TSCL Executive Director Shannon Benton. "The fact is that most senior households already get by on only about 58% as much income as their working-age counterparts, and you'd be hard-pressed to find a middle-class or working-class American who thinks the economy is doing well right now, especially as oil prices rise."
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The Social Security Administration (SSA) computes the annual Social Security COLA using a variant of inflation data from the consumer price index (CPI) based on the months of July, August and September. The agency announces the COLA each October, although last year's announcement was delayed by a government shutdown.
TSCL's estimate of a 2.8% COLA for 2027 was based on the year-over-year CPI-W reading coming in at 2.2% in both January and February, then rising to 3.3% in March.
Inflation jumped in March, largely due to the energy supply shock caused by the Iran war disrupting the flow of oil from the Middle East because tanker traffic through the Strait of Hormuz was at a standstill due to the conflict.
Economists have warned that inflation may rise further in the next few months and could remain elevated through the end of the year depending on how long the energy impact of the conflict goes on, though there is uncertainty around those projections related to the war's duration and resolution.
Social Security's main trust fund is being depleted due to the aging of America's population and rising enrollment, causing expenses from benefit payments to rise beyond what the trust fund and incoming payroll tax receipts can cover.
Recent projections estimate it will reach insolvency in 2032, at which time benefits would be cut by an estimated 24% across the board to match incoming revenue.
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TSCL also criticized a recent proposal to reform Social Security that would cap annual benefits for higher income Americans at $50,000 for an individual or $100,000 for couples.
The Six Figure Limit proposal put forward by the nonpartisan Committee for a Responsible Federal Budget (CRFB) would only affect a small fraction of Americans. The group notes that while it wouldn't significantly delay the insolvency of Social Security trust funds on its own, it could "meaningfully delay insolvency in combination with other reforms."
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TSCL's Benton said, "Reforming Social Security needs to follow a two-pronged approach, strengthening revenues and benefits at the same time to ensure prosperity for all Americans of all ages."
https://www.foxbusiness.com/economy/social-securitys-next-cola-projection-might-not-go-far-retirees-hope