Family offices are paying executive assistants up to $190,000 a year as demand for talent spikesThe talent war between family offices and Wall Street has driven up salaries not only for top investment roles but also for administrative staff.[Collection]
Stellantis chairman details planned U.S. investments for Jeep, Ram to TrumpStellantis' chairman detailed several plans for U.S. investments when meeting with President Donald Trump before his Monday inauguration.[Collection]
Jamie Dimon says tariffs can be positive for national security, even if inflationary: 'Get over it'JPMorgan Chase CEO Jamie Dimon said in a new interview that tariffs are an economic tool that could boost inflation but could be useful for addressing national security concerns.
JPMorgan Chase CEO Jamie Dimon said in a new interview that a small increase in inflation caused by the Trump administration's tariff plans would be worthwhile in the service of national security concerns.
Dimon appeared on CNBC's "Squawk Box" and said tariffs are an economic tool that can be used for a variety of reasons, and that while they could cause inflation, that would be acceptable if it helped the U.S. meet national security goals.
"I look at tariffs, they are an economic tool, that's it. They're an economic weapon, depending on how you use it and why you use it and stuff like that," Dimon said.
"People are arguing, is it inflationary, is it not inflationary? I would put it in perspective – if it's a little inflationary, but it's good for national security, so be it. I mean, get over it. National security trumps a little bit more inflation," he said.
JAMIE DIMON WEIGHS IN ON TRUMP'S WIN, POLICIES HIS ADMIN SHOULD FOCUS ON
Dimon went on to say that the way the Trump administration might use tariffs to pursue more favorable trade terms or address national security issues is a more important question than whether they will cause inflation.
"But I think really, the question is how they get used. Can they be used to bring people to the table? Yes. Is there some unfair trade? Yes. Is there some state-owned subsidies? Yes. Is the president going to use it that way and his team? Yeah, and we'll see. But how it gets played out – we're going to find out," Dimon said.
JPMORGAN SETTING UP A 'WAR ROOM' TO KEEP UP WITH TRUMP'S POLICY CHANGES
President Donald Trump campaigned on imposing an across-the-board tariff of 10% to 20% on all imported goods, as well as higher tariffs of up to 60% on goods imported from China.
While he didn't implement those tariffs during his first two days in office, Trump told reporters at the White House on Tuesday that he's planning to start with a 10% tariff on China that would take effect at the start of February.
"We're talking about a tariff of 10% on China, based on the fact that they're sending fentanyl to Mexico and Canada," Trump said. "Probably Feb. 1 is the date we're looking at."
TRUMP'S TARIFFS ON MEXICO, CANADA: COMPANIES THAT HAVE RAISED ALARMS
Trump also signed an executive order after taking office on Monday titled "America First Trade Policy" that directed the Commerce and Treasury Departments to investigate the causes of annual trade deficits and the risks they pose and make recommendations about actions like tariffs to remedy trade deficits.
The order also instructed those agencies along with the Department of Homeland Security (DHS) to design and implement Trump's "External Revenue Service (ERS) to collect tariffs, duties, and other foreign-trade related revenues."
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Trump intends for the ERS to collect tariff revenue from foreign sources, but economic experts have pushed back on that goal, noting that U.S.-based importers pay tariffs when their imported goods enter the country. Those tariffs are currently collected by U.S. Customs and Border Protection, a subagency of DHS.
Fox News Digital's Greg Norman contributed to this report.
https://www.foxbusiness.com/economy/jamie-dimon-says-tariffs-can-positive-national-security-even-inflationary-get-over-itBloomingdale's to close store in downtown San FranciscoBloomingdale’s plans to shutter its massive store within the San Francisco Centre shopping mall in the coming months, the company confirmed to FOX Business.
Bloomingdale’s plans to shutter its massive store within the San Francisco Centre shopping mall in the coming months.
The brand, owned by Macy’s, said in a statement to FOX Business that the location within the mall "will remain open until late spring 2025" and then close its doors.
Bloomingdale’s location within the San Francisco Centre, a shopping mall near the city’s Union Square area in downtown, spans nearly 339,000 square feet, according to a leasing brochure.
Bloomingdale’s also said that San Francisco "has been home to the brand for nearly two incredible decades" and that it was "hopeful to be back to serve the San Francisco community in the future and look forward to introducing new ways to provide enhanced service to our loyal local shoppers."
MICHAEL KORS CLOSES ITS DOWNTOWN SAN FRANCISCO STORE
The upcoming Bloomingdale’s exit, earlier reported by local media outlets, follows Michael Kors, a luxury brand known for its clothing and handbags, closing its store in the San Francisco Centre.
San Francisco Centre has lost tenants such as Adidas, American Eagle, J. Crew, Madewell, Aldo, Nordstrom and L’Occitane in recent years.
The mall remains home to Aritzia, Bath & Body Works, Coach, Kate Spade, Rolex, Ray Ban and Tumi, among others, according to its online store directory.
In June, the shopping mall said it had locked in leases for seven new companies. That included five for retail and two for offices, according to the San Francisco Chronicle.
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FOX Business reached out to Trident Pacific Real Estate Group, the firm that became the San Francisco Centre’s receiver in 2023, and JLL, the company listed on the mall’s website as managing the property, for comment on Bloomingdale’s leaving the location.
Mayor Daniel Lurie called Bloomingdale’s pull-out "disappointing" in an X post on Tuesday.
The broad Union Square area has faced its share of retail exits over the past couple of years. The reasons have varied, with some pointing to business conditions, lower foot traffic and shifts in the retail sector.
In the X post, Lurie added that he was "energized every day by businesses of all sizes opening and growing in our city" and that the city "continue[s] to work towards the revitalization of the city."
"We are open for business here in San Francisco," he said in an accompanying video. "We’re going to make sure downtown is safe and clean. We are going to start a new police task force focused on those people coming in for conventions, shoppers, visitors, making sure that they feel safe, just like we were able to do last week for JPMorgan’s healthcare conference and we will for the Lunar New Year parade celebrations and the NBA All Star Game."
A DOZEN WALGREENS STORES IN SAN FRANCISCO TO CLOSE
"There is a lot to look forward to in our city. We are going to get this right. You have my commitment that our department heads, my team are going to work tirelessly to make sure that we bring retailers, businesses, conventions back to San Francisco."
https://www.foxbusiness.com/retail/bloomingdales-close-store-downtown-san-franciscoStellantis chairman details planned U.S. investments for Jeep, Ram to TrumpStellantis' chairman detailed several plans for U.S. investments when meeting with President Donald Trump before his Monday inauguration.[Collection]
United Airlines' first-quarter outlook outpaces estimates after profits surge to end 2024United topped analysts' estimates for fourth-quarter earnings and the airline's first-quarter outlook.[Collection]
Stellantis chairman details planned U.S. investments for Jeep, Ram to TrumpStellantis' chairman detailed several plans for U.S. investments when meeting with President Donald Trump before his Monday inauguration.[Collection]
Procter & Gamble earnings beat estimates as shoppers buy more household staplesProcter & Gamble beat quarterly earnings and revenue estimates and also reiterated its fiscal 2025 forecast.[Collection]
Limited edition tequila sells out within 1 week of launch; co-founder Lalo González says 'We need more'Lalo González, grandson of Don Julio, told FOX Business his High Proof blanco tequila sold out to consumers within one week of releasing the product to the brand website.
Drawing from a desire to provide consumers with innovative products harvested exclusively from Mexico, one spirit brand is staying true to its commitment and producing only additive-free blanco tequila as the company continues to grow its product line amid shifts in the spirits' category.
Eduardo "Lalo" González, grandson of Don Julio and co-founder of Lalo Spirits, unveiled High Proof, a limited-edition release of 108 proof (54% ABV) tequila blanco, which expanded the brand’s portfolio from one product.
"The High Proof is an undiluted version of our 80 proof," González told FOX Business. "You have a tequila that is not watered down. All the flavors, aromas, the flavor profile of the juice, is kind of like on steroids. It’s highlighted even more."
Cinnamon, cooked agave and tropical notes are among the pungent aromas found in a pour of High Proof.
"It’s very well-balanced," González said.
High Proof is made with only three ingredients; agave sourced from the Jalisco highlands, water from the distillery’s well and champagne yeast.
"We did a test of four different yeasts and the one that kind of highlighted this balance that I wanted in the final product was champagne yeast," González said.
TEQUILA EXPERT SHARES THE SECRET TO A SIMPLE, DELICIOUS COCKTAIL
With the help of his childhood friend and co-founder, David Carballido, González launched High Proof on digital shelves in late October 2024. The product sold out on the brand’s website within one week.
"We were like okay, we need more," he said.
Today, consumers can purchase a second drop of High Proof, which retails for $74.99, online and in select stores and restaurants.
"It’s kind of giving us the North Star of how we should do it this year," González said.
González revealed that because of High Proof’s success, the Lalo team is strongly considering limited edition releases a few times a year.
TEQUILA AND MEZCAL: WHAT'S THE DIFFERENCE?
At the overwhelming request from consumers for an aged expression, González said he often finds himself drumming up new ideas and considering the possibilities of blanco.
"The consumer is looking for more crafty options, more authentic options in the realm of spirits and tequila obviously," he said. "They're being more, I don’t know if I'd call it picky, but they investigate more. They read more. They want to know more about what they're drinking and eating and putting in their body."
González said Lalo can shapeshift a multitude of limited edition products by exploring agave from a region outside of Jalisco, experimenting with cooking and extraction methods, types of yeast and the source of water, in order to expand.
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"Using rain water is possible, though challenging," González told FOX Business. "I don't know how sustainable it is."
"It’s in the realm of possibilities for a limited release."
https://www.foxbusiness.com/lifestyle/limited-edition-tequila-sells-out-within-1-week-launch-co-founder-lalo-gonzalezMajor bank CEO says Trump’s fiscal policies make US ‘the No. 1 place to invest’ againBank of America's Brian Moynihan explains how President Trump is creating "even better conditions for investment" into U.S. companies and economic growth.
From mergers and acquisitions to deregulation and "competitive" tax structure, Bank of America’s top executive shared an optimistic picture of the U.S. economy under the second Trump administration.
"When you talk to the people around here, from all over the world, [in] business, it's the No. 1 place to invest. Not by a little bit, by a lot," BofA Chairman and CEO Brian Moynihan said of America’s economic landscape during a "Mornings with Maria" interview from the World Economic Forum in Davos, Switzerland.
"If you go back to the first Trump administration and the tax changes, that brought America's tax rate down to where it was competitive. America always has… [a] big market, biggest economy in the world, growing, et cetera," he continued. "America has good business conditions in terms of talent, people, worker flexibility, all those types of things."
"So you put all that together, it was a great place to invest. You go in and say now, I'm going to move the regulation back, and now I'm going to create even better conditions for investment."
TRUMP'S DEREGULATION ‘CONSTRUCTIVE FOR GROWTH’: GOLDMAN SACHS C.E.O.
Bank of America kicked off Q4 earnings season with surging profits, reporting a double beat of $6.67 billion, as its investment banking fees saw a 44% increase to $1.7 billion.
Much of the banking industry is expecting more M&A deals coming to market under President Donald Trump, while he also plans to pull back regulations that stymied transactional activity during the Biden administration.
Former Biden appointees from the Federal Trade Commission, Federal Communications Commission and the Justice Department's Antitrust Division halted almost all M&A activity since his term began in 2021. Those who chose to defy the regulatory restrictions faced prolonged legal battles with the Biden deal police.
"We were sitting here last year, the issue of business inflation and interest rates, but another big issue was the amount of regulation in small and medium-sized companies, and in the banking system, and the mortgage companies. And the feeling is that it will now swing back to more normalcy," Moynihan noted.
"It swung way too far in the last administration," he added. "We tried to explain to them that was going to cause them troubles… But I think it's more important that the general economy feels a little bit of relief on regulation across the board, the ability to get deals done, and American companies can now go out domestically and around the world and be the kings that they're supposed to be."
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Moynihan explained that Bank of America’s top research team is expecting 2.4% GDP growth for the U.S. in 2025, the M&A pipeline being "full" and a 20% increase in IPOs.
"Therefore, that says the capital can be put to work. So all that bodes well," the chairman and CEO said. "The enthusiasm by our team for what's ahead is far greater than it was in the fourth quarter because that was sort of under the old regime."
FOX Business’ Eleanor Terrett contributed to this report.
https://www.foxbusiness.com/media/major-bank-ceo-says-trumps-fiscal-policies-make-us-the-no-1-place-invest-againUnited Airlines' first-quarter outlook outpaces estimates after profits surge to end 2024United topped analysts' estimates for fourth-quarter earnings and the airline's first-quarter outlook.[Collection]
Jamie Dimon says Trump's tariff policy is positive for national security so people should 'get over it'Dimon did not get into the details of Trump's plans, but said it depends on how the duties are implemented.[Collection]
'Ms. Rachel' strikes deal with Netflix following conservative parents' boycottPopular children's YouTube creator Rachel Accurso, known more commonly as Ms. Rachel, is coming to Netflix with four new episodes streaming next week.
Parents looking for "Hop Little Bunnies" and other nursery rhymes by singer and songwriter Ms. Rachel to entertain their children will soon have another place to go besides YouTube.
Rachel Accurso has struck a deal with Netflix, and four episodes that "will include interactive lessons that teach letters, numbers, colors, shapes, and more" will be available for streaming on the platform starting on Monday, Jan. 27.
The episodes will be in English with subtitles available in 33 languages, Netflix says.
"With more than a billion views, Accurso has been described by some parents as their children’s Mister Rogers," a press release states.
Moms of toddlers are rejoicing on social media after the announcement was made.
"Thank God lol I'm so tired of my YouTube being filled with her," one mom wrote in a Facebook group. "Now I can just go on Netflix."
"Finally getting away from YouTube ads!" another chimed in.
"Omg I can cancel YouTube premium now," a toddler mom wrote.
Accurso is a 42-year-old Maine native, according to Bangor Daily News. She has more than 13 million subscribers on YouTube, and millions follow her on Facebook, Instagram and TikTok, as well.
Last summer, the popular children's YouTube creator sparked backlash on social media after she posted a video celebrating Pride Month – and issued a pointed message to parents who took issue with her remarks.
The educational content creator, who is a viral sensation among babies and toddlers, seemingly anticipated fallout with some of her audience, then added, "To those who are going to comment, they can’t watch this show anymore because of this support, no worries and much love your way," she said.
In 2023, Accurso said she was forced to take a "mental health break" after parents expressed outrage over her co-star Jules Hoffman asking to be referred to with the pronouns "they" and "them" on the show. Hoffman is transgender and non-binary.
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Accurso also came under scrutiny when she announced she was creating a fundraiser to benefit children in conflict areas, including Gaza. Jewish mothers called out the YouTube sensation for failing to address the murdered Jewish children or those taken hostage on October 7. Many others questioned why Accurso wasn't raising money for Israeli children affected by the war. Accurso later disabled comments on the fundraiser post and put out a statement on Instagram.
Her Instagram bio currently links to the Palestine Children's Relief Fund.
FOX News' Yael Halon contributed to this report.
https://www.foxbusiness.com/lifestyle/ms-rachel-strikes-deal-netflix-following-conservative-parents-boycottPelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and AmazonFormer House Speaker Nancy Pelosi disclosed several new stock trades involving Big Tech names like Nvidia, Apple, Alphabet and Amazon that occurred in the last month.
Former House Speaker Nancy Pelosi, D-Calif., reported several stock trades on Inauguration Day that were made in December and early January involving several of the world's largest tech companies, an industry her husband Paul has traded in before.
Congressional stock trading disclosures, known as periodic transaction reports, cover trades made by both the member of Congress and a spouse.
Ian Krager, a spokesperson for the former speaker, told FOX Business, "Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions."
NANCY PELOSI'S HUSBAND SOLD MORE THAN $500K IN VISA STOCK AHEAD OF DOJ ACTION
Pelosi's disclosure showed the purchase of 50 call options for Alphabet, the parent company of Google, along with 50 call options for Amazon, according to her latest periodic transaction report filed with the clerk of the House of Representatives.
Both sets of call options have a strike price of $150 and were valued between $250,001 and $500,000. Call options give investors the right to buy shares of a company at a specific price.
The disclosure showed the sale of 10,000 shares of Nvidia along with 31,600 shares of Apple Dec. 31. After the sale, Paul Pelosi bought 50 more Nvidia call options on Jan. 14 that had a strike price of $80 in a trade that was in the range between $250,000 and $500,000. Pelosi also exercised 500 call options for Nvidia on Dec. 20 that had a strike price of $12 and were due to expire that day.
That trade was in the range between $500,000 and $1 million.
The former speaker's disclosure also noted several other investments that occurred in the last month, including that 140 call options were exercised for 14,000 shares of Palo Alto Networks at a strike price of $100 that were due to expire Dec. 20 in a trade reported as being between $1 million and $5 million.
Pelosi also disclosed the purchase of 50 call options of Tempus AI with a $20 strike price as well as 50 call options of Vistra Corp. with a $50 strike price Jan. 14. The Vistra purchase was in the $500,000 to $1 million range, while Tempus was between $50,000 and $100,000.
BIPARTISAN GROUP OF SENATORS REACHES AGREEMENT TO BAN LAWMAKERS FROM TRADING STOCKS
Investments made by Paul Pelosi have attracted scrutiny amid mounting calls for members of Congress and their immediate family members to be banned from stock trading.
Last fall, Paul Pelosi sold over $500,000 in Visa stock ahead of a Justice Department antitrust suit against the credit card giant. Earlier last year, an analysis estimated that he made the couple nearly $4 million in a six-month period off of Nvidia call options he bought in November 2023.
Lawmakers' spouses can trade in companies or industries their partner may help regulate, but it's illegal for members of Congress and their family members to profit from inside information.
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Members of Congress on both sides of the political aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock. Bipartisan bills to that end were developed in the Senate during the last Congress, but neither became law before the end of the 118th Congress, leaving the issue to the current Congress.
FOX Business' Breck Dumas contributed to this report.
https://www.foxbusiness.com/politics/nancy-pelosi-sells-nvidia-apple-buys-alphabet-amazonJamie Dimon says the U.S. stock market is 'kind of inflated’The American stock market is in the midst of a multiyear bull run.[Collection]
Retail crime 'queenpin' to pay millions in restitution to Ulta, other retailers for theft ringMichelle Mack was accused of running a sprawling retail crime ring that targeted Ulta and Sephora stores across the country and will spend five years in prison.[Collection]
Ex-MLB All-Star Kenny Lofton praises Sluggball's reimagined approach to the sport: 'Top Golf of baseball'Sluggball, a reimagined way of playing baseball, has six-time MLB All-Star Kenny Lofton loving the concept of bringing back situational hitting to the game.
A mostly lost art in the game of baseball is being revived in an innovative way this year, and one former Major League Baseball star is happy to advise.
Sluggball is a reimagined way to play the sport, and it is being viewed by six-time MLB All-Star Kenny Lofton, who serves as an advisor for the company, as something similar to a recreational version of another sport.
"This is almost like the Top Golf of baseball," Lofton told FOX Business Digital over the phone. "It’s a competition, and you get guys who play the game and want to have fun with this."
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Sluggball was co-founded by a Philadelphia-based partnership group that includes former MLB player and Philadelphia Phillies GM Ruben Amaro Jr. and his brother, David Amaro. The Major League Baseball Players Alumni Association, Victus Bats and Blast Motion are also collaborators with the brand, while Evan Kaplan, managing director of MLB Players, Inc., serves as an advisor alongside Lofton.
The premise of the reimagined version of baseball is to reignite situational hitting in a fun format that allows players of all ages to compete in 4-on-4 competitions at various minor league parks in New Jersey, Ohio and New York this year.
Situational hitting is an aspect of today’s big-league game that is not a priority like it was in Lofton’s time playing the game. It hurts the former high-average outfielder to see power as the main component behind hitting, which is why he hopes Sluggball’s format can bring situational, contact hitting back to the forefront.
JOHNNY DAMON'S NUTRITION JOURNEY AND LOCAL TRAGEDY LED HIM TO FORM HIS OWN SPORTS DRINK BRAND
"I think my favorite part about this whole thing is that you can have the smaller people be a part of the game, and it was more about, for me, situational hitting," Lofton, who played 17 MLB seasons and amassed 2,428 hits over 2,103 games, said. "I think that’s what I saw, and I felt like how important that was to the game, and it resonated with me because I wasn’t a power hitter. This game is so set up with power, power, power. I’m like that is not the only part of what makes this game so special. Just to have the opportunity for guys who played college ball, high school ball in this Sluggball to have an opportunity to get back into the game again because they love it.
"You don’t have to be the most power hitter, but you can still know how to handle the bat and Sluggball puts guys in that situation to put a little team together and go out there and do something and have this competitive edge like a lot of guys want to get back to."
The rules for Sluggball are simple. First, teams of six to eight players are registered to their respective event this year with their own batting-practice-style pitcher brought to the stadium. The team’s lineup for their games – two four-round games are guaranteed upon entry – will have four hitters, and at-bats are limited to eight swings or 35 seconds.
Each game consists of four rounds of situation hitting, when points are scored by hitting the ball in accordance to each round’s situation. That would be the pull side, up the middle, opposite field and around the horn, depending on which side of the plate the hitter is on.
A batted ball only counts if it is hit to the outfield on the side the round is in and remains in fair territory. Most total team points in the round wins that round, and there is no need for running or field – only hitting.
Sluggball hosted an invite-only pilot event at the Trenton Thunder Ballpark in September 2024, when Phillies legend Larry Bowa was the onsite MLB ambassador, who spent time signing autographs and interacting with the participants. The event saw a great reception from the players and those who attended with them alike, leading to optimism heading into 2025.
"A guy who's 65 years old who knows how to work the bat, he can score points in this situation," Lofton said, referencing one of the pilot event player’s age. "You can hit the ball up the middle, you can hit the ball to left field, right field when it’s your time to do it. That’s what excited me.
"We know it’s BP, but again, I always say you got to learn how to work the bat. …Maybe Sluggball can get that opportunity to say, ‘Hey, this is also part of the game that’s important that got pushed away because of analytics and the Ivy League people.’"
Sluggball currently has six events available for registering, with "Opening Day" at the Trenton Thunder Ballpark on May 10. Fees are $1,795 per team, and it includes a two-game guarantee with a chance to play in the championship game for a $3,000 cash prize.
Players also get on-field team apparel, including UnderArmour shorts and a shirt and a hat from Branded Bills. Catered lunch and cash bar, post-event player performance analytics, signed memorabilia from the guest MLB alumni and more is in store for each team’s experience.
So, much like Top Golf, those still in love with the game can get those competitive juices flowing alongside others who want to do the same.
While Sluggball is looking to bring back that lost art, it is also expanding the camaraderie the game of baseball naturally has.
"That’s one thing I miss about the game – the camaraderie to go out there every day and have fun with the guys because you guys are all like-minded," Lofton said. "You got people who are like-minded and want to enjoy the game the way it is. Again, you don’t have to be the most athletic. You just have to know how to swing the bat and put the ball in different areas of the field and not worry about putting it out of the ballpark."
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https://www.foxbusiness.com/sports/ex-mlb-all-star-kenny-lofton-praises-sluggballs-reimagined-approach-sport-top-golf-baseballTrump plans 10% tariffs on Chinese imports on Feb. 1President Donald Trump says he will soon implement a 10 percent tariff on Chinese imports over the role the country plays in fentanyl trafficking into the U.S.
President Donald Trump announced he is planning a 10 percent tariff on Chinese imports on Feb. 1 over the country’s role in fentanyl trafficking.
"We're talking about a tariff of 10% on China, based on the fact that they're sending fentanyl to Mexico and Canada," Trump told reporters at the White House on Tuesday. "Probably February 1st is the date we're looking at."
When asked about a conversation he had with Chinese President Xi Jinping ahead of his inauguration this week, Trump added that "We didn't talk too much about tariffs other than he knows where I stand."
During his campaign, Trump threatened tariffs as high as 60 percent on goods from China. He recently pledged on Truth Social to create an "External Revenue Service" to "collect our Tariffs, Duties, and all Revenue that come from Foreign sources."
JPMORGAN SETTING UP A ‘WAR ROOM’ TO KEEP UP WITH TRUMP'S POLICY CHANGES
Trump and his allies have argued that such a plan would bolster American manufacturing while making it more difficult for adversaries like China to "export their way out of their current economic malaise," as Treasury Secretary nominee Scott Bessent told senators last week.
However, Democrats and opponents argue the cost of the tariffs would just be passed on to American consumers.
"Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses," Rep. Suzan DelBene, D-Wash., recently said in a statement.
At a press briefing Wednesday, Chinese foreign ministry spokesperson Mao Ning told reporters that "We always believe that there is no winner in a trade war or tariff war," according to Reuters.
Trump also has said a 25 percent levy will be placed on all goods from Canada and Mexico by February.
TRUMP ANNOUNCES LARGEST AI INFRASTRUCTURE PROJECT ‘IN HISTORY’ INVOLVING SOFTBANK, OPENAI AND ORACLE
In late November, Trump wrote on his Truth Social account that he would implement such tariffs on Jan. 20 as one of his first Executive Orders and that the tariffs "will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!"
Those promised tariffs haven’t gone into effect yet, but on Monday, Trump did sign an executive order titled "America First Trade Policy."
"The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, shall investigate the causes of our country’s large and persistent annual trade deficits in goods, as well as the economic and national security implications and risks resulting from such deficits, and recommend appropriate measures, such as a global supplemental tariff or other policies, to remedy such deficits," the order says.
"The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, shall investigate the feasibility of establishing and recommend the best methods for designing, building, and implementing an External Revenue Service (ERS) to collect tariffs, duties, and other foreign trade-related revenues," it adds.
Fox News’ Elizabeth Elkind and Fox Business’ Daniella Genovese contributed to this report.
https://www.foxbusiness.com/politics/trump-plans-10-tariffs-chinese-imports-feb-1Fallen Black South African Soldiers From World War I Finally Remembered
CAPE TOWN, Jan 22 (IPS) - A new war memorial in Cape Town, South Africa, remembers the close to 2,000 casualties who served in Africa during World War 1, between 1914-1918 and who have no known graves and because they were Black, they were never remembered in the official narratives of history.It was a solemn ceremony on a bright sunny day on the southern tip of Africa, in Cape Town’s company gardens, amid the grass wooden structures that stand out. The 1,700 carefully constructed brown wooden carvings are standing in a line. These structures represent a new Commonwealth War Graves Commission (CWGC) memorial, which honors the contribution of the hundreds of Black South African military laborers of the First World War. The CWGC remembers the fallen soldiers of both World Wars equally with this first permanent redress tribute.
https://www.globalissues.org/news/2025/01/22/38884 [Collection]Family offices are paying executive assistants up to $190,000 a year as demand for talent spikesThe talent war between family offices and Wall Street has driven up salaries not only for top investment roles but also for administrative staff.[Collection]
Netflix shares soar as company reports surging revenue, tops 300 million subscribersThe fourth quarter was the last for which Netflix will report quarterly paid subscriber counts.[Collection]
Trump inheriting fiscal gauntletPresident Trump wasted no time in getting to work on his first day in office with a range of executive orders but the fiscal house he’s inheriting may prove more challenging to fix.
President Trump was sworn in amid much fanfare and celebration, and then he got right to work Monday. He started with a hiring freeze for federal workers and a regulatory freeze as part of a slew of executive orders, but taming the U.S. fiscal situation may prove more challenging.
"The biggest headwind is probably the massive debt and the very, very bloated budget, a lot of which contains spending. It's money that hasn't actually been spent at this point but is still slated to go out the door. You know, promises of future spending. So that's going to be very, very problematic" EJ Antoni, Research Fellow at The Heritage Foundation, told FOX Business before Trump took office.
The national debt — which measures what the U.S. owes its creditors — is sitting above $36 trillion and growing, as tracked by the U.S. Treasury Department.
PRESIDENT TRUMP'S KEY FISCAL DEADLINES
As for the budget, last Friday, nonpartisan Congressional Budget Office (CBO) released its latest 10-year budget and economic outlook that showed the federal government is on track to break a debt record set nearly 80 years ago.
MELANIA TRUMP STUNS IN AMERICAN DESIGNERS
"From 2025 to 2035, debt rises as increases in spending on Social Security, Medicare and interest payments outpace growth in revenues," CBO Director Phillip Swagel told reporters.
The federal government is projected to run a $1.9 trillion budget deficit in the 2025 fiscal year. The deficit is projected to briefly decline in the next two years before resuming its rise. The short-lived drop is tied to the expiration of portions of Trump’s 2017 Tax Cuts and Jobs Act, which expire at the end of this year. However, Trump Treasury pick Scott Bessent is vowing not to let that happen. Bessent is expected to sail through the confirmation process.
SCOTT BESSENT VOWS TO MAKE 2017 TAX CUTS PERMANENT
"We must make permanent the 2017 Tax Cuts and Jobs Act and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers and seniors," Bessent told the Senate Finance Committee at his confirmation hearing. "President Trump was the first president in modern times to recognize the need to change our trade policy and stand up for American workers."
The CBO's analysis is based on current law, so changes to federal tax and spending policies could alter those figures.
Another devil in disguise; the Federal Reserve’s easing cycle aimed at tackling inflation. Policymakers cut rates three times in 2024, a 50- basis point cut, followed by two 0.25-basis point moves. Still, the 10-year Treasury Yield, which sets rates for several borrowing metrics including mortgage rates, remains above 4%. Mortgage rates just topped 7%, according to Freddie Mac, rising for the fifth straight week.
Investors did celebrate the latest consumer price index reading, which held no surprises. The core rate, which excludes volatile food and energy, rose 3.2% in December on an annual basis, less than the 3.3% economists had expected. At the Fed’s first meeting of the year, on January 29, market participants expect no change, according to the CME’s FedWatch Tool.
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Still, inflation remains a wild card. Nymex and Brent crude have gained over 8% this year and gold is trading just under its all-time high of $2,788.50 an ounce.
https://www.foxbusiness.com/markets/trump-inheriting-fiscal-gauntletProcter & Gamble earnings beat estimates as shoppers buy more household staplesProcter & Gamble beat quarterly earnings and revenue estimates and also reiterated its fiscal 2025 forecast.[Collection]
As second Trump term starts, anger at government, business soars globallyThe 2025 Edelman Trust Barometer found there is an unprecedented lack of faith in institutional leaders worldwide, with 70% saying they believe government, businesses and the media lie.
Edelman has now been conducting its annual trust survey for a quarter-century, and the global communications firm says this year's findings are particularly alarming.
The 2025 Edelman Trust Barometer released Sunday found there is an unprecedented lack of faith in institutional leaders, with an all-time high of 70% of respondents saying they believe government officials, business leaders, and journalists deliberately mislead them.
The survey, which polled 33,000 people across 28 countries, also found the fear of falling victim to discrimination is at an all-time high. In the U.S. alone, 50% of the white population expressed feeling discrimination, while more than 60% feel aggrieved by inflation, job loss risk, and downward social mobility.
The findings also indicated an unprecedented decline in employer trust worldwide.
‘BIDENOMICS’ UNDER FIRE: SMALL BUSINESS EARNINGS PLUNGE DESPITE GDP GROWTH
"Of the highly-aggrieved their observed experience is: You've got high inflation, you've got job risk, globalization, and [people are asking], 'Is business really looking out for us?" said Edelman CEO Richard Edelman.
"I think it's a moment in time for business to perform better," he told FOX Business in an interview. "To reskill, to pay good wages, to have affordable products, and do what business does best, which is have an impact by making a profit."
Another trend shown in the findings is that there is a lack of hope for the next generation. Confidence in a better future is at just 36%, with lows in every Western democracy, including France (9%), the UK (17%), and the U.S. (30%).
People also increasingly see violence as a solution to their grievances, with 4 in 10 respondents, and 53% of those aged 18–34, saying they approve of violence, property damage, or misinformation as tools for change.
ENERGY AND FOOD PRICES DROVE INFLATION IN DECEMBER
At the same time, 67% of respondents said they are convinced the wealthy take more than their fair share, three-quarters overall report having financial issues due to inflation, and respondents increasingly see capitalism as a failure due to their economic situations, with 55% of 18–34-year-olds saying capitalism does more harm than good.
"It's amazing to me that half the people in our study now question whether capitalism works – that's a bad thing, " Edelman said, suggesting the reason could be because capitalism has been performing for some and less well for others, or possibly because of how it's been positioned by certain politicians.
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"But we have to make sure that people believe the system works," he said. "And it's not just the political system, it's the economic system, unfairness. And I think the last thing that's happened that's really important over the years is the battle for truth and the breakdown of the information system."
https://www.foxbusiness.com/lifestyle/second-trump-term-starts-anger-government-business-soars-globallyTrump's tariffs on Mexico, Canada: Companies that have raised alarmsOn his first day back in office, President Donald Trump reiterated plans to impose levies on products from Mexico and Canada despite concerns from the retail industry.
President Donald Trump renewed his commitment to slapping tariffs on imports during his first day in office, saying that a 25% levy will be placed on all goods from Canada and Mexico by February. He reiterated some of those remarks Tuesday.
His push comes even after a slew of retailers have issued concerns about the tariffs pumping up the costs of their products or forcing them to cut back on inventory. Wall Street titan Goldman Sachs also raised concerns that hiking the levies on products will drive up costs for everyday Americans.
TJ MAXX CEO SAYS COMPANY COULD BENEFIT FROM TRUMP'S PROPOSED TARIFFS
Trump argued last month that tariffs when used properly will "make our country rich."
By contrast, the head of the National Retail Federation (NRF) – the nation's largest trade group - previously warned that shoppers could face higher prices on an array of goods if Trump's proposed tariffs on imports to the U.S. are implemented. The trade group estimated that families could lose between $46 billion and $78 billion in spending power annually.
On Monday, NRF Executive Vice President of Government Relations David French said the United States first "needs a review of our trade relationships to be sure that those relationships are structured to achieve fair, balanced and effective outcomes for American workers and businesses."
"Tariffs are taxes paid by Americans, and any new tariff tax increases should be methodically and effectively deployed toward only the most strategic goods," French said. "Undertaking a strategic assessment of trade priorities is an important first step."
He said the trade group is looking "forward to working with the president to see that the resulting policy changes are carefully targeted and create an environment that attracts investment and protects critical industries."
TRUMP'S TARIFFS WOULD DRIVE UP CONSUMER PRICES: NATIONAL RETAIL FEDERATION
During an earnings call in December, Costco CFO Gary Millerchip warned that Trump's proposed tariffs would raise costs for consumers.
In general, he told analysts that "tariffs raise costs so that's not something that we see as a positive."
"When it rains, it rains on everybody," he added.
He said the company is going to try and work with its vendors "to make sure we're looking for ways where we can to mitigate the cost."
Dollar Tree – which has high exposure to China – warned that if tariffs are implemented, then the company might have to change product details or sizes and even get rid of items altogether if they become too expensive.
In December, the discount retailer told analysts it has a "wide range of potential actions" it can take to mitigate additional tariffs if they materialize, including changing product details or sizes and even getting rid of items altogether if they become too expensive.
Dollar Tree said the last time the retailer faced this issue, in 2018 and 2019, it adjusted its products and negotiated lower costs with suppliers.
"Those options are still at our disposal," interim CEO Michael Creedon told analysts on a Dec. 4 earnings call. "On top of those, we now have detailed plans in place to shift supply sources for most of our products to alternate countries, and multi-price gives us additional flexibility on our product assortment."
Home Depot CEO Ted Decker told analysts during an earnings call in November that whatever happens with "tariffs will be an industrywide impact. It won't discriminate against different retailers and distributors who are importing goods. The type of product as an industry is generally sourced from the same countries."
Lowe's Chief Financial Officer Brandon Sink told analysts during an earnings call in November that 40% of its goods sold are sourced outside the U.S., "and that includes both direct imports and national brands through our vendor partners."
"And as we look at potential impact, [it] certainly would add product costs, but timing and details remain uncertain at this point," Sink said.
Walmart Chief Financial Officer John David Rainey warned that Trump's proposed tariffs could lead to higher prices for its shoppers.
"Tariffs are going to be inflationary. There's no disputing that," Rainey said during an interview with Liz Claman on "The Claman Countdown."
While Rainey said two-thirds of the items the company sells are made, grown or assembled in the U.S., he said it is "in no way immune to this."
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A Walmart spokesperson said in a statement to FOX Business that the company remains "concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation."
The retail industry isn't the only one that's raised concerns. For instance, the head of finance for Stellantis hinted that it could shift production to the U.S. in the event that tariffs are enacted.
https://www.foxbusiness.com/lifestyle/trumps-tariffs-mexico-canada-companies-have-raised-alarmsJPMorgan setting up a 'war room' to keep up with Trump's policy changesJ.P. Morgan is setting up a "war room" to keep up and analyze all of the new policy changes coming from the Trump administration.
Financial giant JPMorgan is implementing a "war room" to keep up with the immense policy changes the Trump administration is implementing, which they believe will unleash America’s "animal spirits"
"At JPMorgan, we have a war room set up to analyze and evaluate each and every one of these, so they’ve been up all night and are working on it," Chief Executive Officer of JPMorganChase's Asset & Wealth Management line of business Mary Erdoes, told the crowd at the Davos World Economic Forum.
"It’s our regular practice to analyze the impacts of any policy proposal on our business and the impact on our clients and the communities in which we operate. So naturally, there’s a team reviewing these new developments," a JPMorgan spokesperson told Fox News Digital.
President Donald Trump began his second term with an avalanche of executive orders, undoing 80 Biden-era orders. Trump campaigned on introducing tariffs on foreign goods, lowering the corporate tax rate and extending the tax cuts past during his first term in office.
TRUMP SIGNS DOZENS OF EXECUTIVE ORDERS, FULFILLING MANY BUT NOT ALL CAMPAIGN PROMISES
"The last 24 hours are showing there's going to be a lot of changes we all have to digest," Erdoes said.
Erdoes told the crowd of international business leaders and politicians that it appears that Trump is setting up a "very pro-business environment" in the United States.
"Time will tell but a lot of this is exactly what you would do to have a very pro-business environment," she added.
Trump’s inauguration saw numerous business leaders in attendance, including Meta's Mark Zuckerberg, Tesla and SpaceX CEO Elon Musk, Amazon founder Jeff Bezos and UFC chief Dana White.
The JPMorgan executive claimed that the U.S. economy is in "go mode" and that America’s "animal spirits" are finally being unleashed. She also praised Trump for ordering federal employees to show up to the office to work, ending work-from-home policies.
"Thank God the U.S. government has done it, and hopefully that’ll keep us ahead of other governments in the world so we can continue to compete."
Erdoes went on to bash the Biden administration’s endless red tape for "stifling" business activity in the US.
"If you look at the last administration and the number of new, significant regulations, it was eight times the number of significant new regulations versus the prior Trump administration," she said. "With that comes multiple millions of man-hours of paperwork. Work that clogs up the system and stops the economy from continuing to have that very healthy flywheel. So we’re really looking forward to that."
https://www.foxbusiness.com/media/jpmorgan-setting-up-war-room-keep-up-trump-policy-changesSEC launches crypto task force to create regulatory clarityThe SEC announced an initiative Tuesday to create a regulatory framework for digital assets with a new internal task force led by Republican commissioner Hester Peirce.
The relationship between Wall Street’s top cop and the U.S. cryptocurrency industry is on the mend following more than four years of friction.
On Tuesday, the Securities and Exchange Commission announced it is spearheading efforts to establish a regulatory framework for digital assets with the creation of a new crypto task force.
The initiative, which will be led by Republican commissioner Hester Peirce, was acting chair Mark Uyeda’s first official action following his appointment to the position by President Trump on Monday. Uyeda, a Republican commissioner, will serve in the role until Paul Atkins, Trump’s permanent pick to lead the agency, is confirmed by the Senate.
FOX Business was first to report in November that the task force was a possibility, with Hester Peirce, referred to affectionately by the industry as "Crypto Mom," expressing interest in leading such a group.
PRESIDENT TRUMP APPOINTS MARK UYEDA ACTING SEC CHAIR
As FOX Business previously reported, the task force will work closely with industry players to create an open dialogue that will allow for a friendlier regulatory environment. Tuesday's announcement stated the task force will focus on helping the commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously. It will also coordinate with other federal agencies, including the Commodity Futures Trading Commission, which is poised to take on a larger role in crypto regulation.
The SEC, under the leadership of Biden's chair Gary Gensler, brought more than 100 legal actions against crypto players over the last four years as the commission has attempted to bring the sector into compliance using enforcement. Many of the lawsuits were brought over credible allegations of fraud and manipulation, but others centered around companies failing to register their sales of digital assets as securities.
Industry participants have long complained that the decentralized nature of cryptocurrencies and the blockchain technology they run on disqualifies them from being regulated like traditional securities, i.e. stocks and bonds. They have frequently called on regulators and Congress to develop a new regulatory framework specific to digital assets.
Gensler, however, believed traditional securities laws were enough to properly regulate the industry and that most digital assets aside from bitcoin are securities, suing companies that challenged this view by refusing to register with the commission.
PRESIDENT TRUMP LAUNCHES OWN CRYPTOCURRENCY MEME COIN AHEAD OF INAUGURATION
President Trump has promised a lighter regulatory touch that will benefit developing industries like artificial intelligence and crypto. Since his election on November 5, he's appointed a handful of industry advocates to key leadership positions at the Treasury, SEC and CFTC, and named venture capitalist David Sacks the first ever crypto and AI ‘czar'.
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Peirce and the crypto task force are already welcoming input on regulation from the public via email and will hold roundtables with industry participants in the future.
"This undertaking will take time, patience, and much hard work…," Peirce said in a press release announcing the initiative. "We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation."
https://www.foxbusiness.com/markets/sec-launches-task-force-create-crypto-regulatory-frameworkNetflix raises U.S. subscriber prices, attributes success to 'Squid Games' and NFL games Paul-Tyson fightNetflix increased its subscriber pricing Tuesday after announcing a record breaking fourth quarter.
Netflix subscribers will see a noticeable jump in their monthly subscription fees, as the streaming company revels in new viewership.
In a letter to shareholders on Tuesday, the company announced it increased prices across most plans in the U.S., Canada, Portugal and Argentina.
Standard monthly memberships jumped a dollar, up to $7.99 a month, according to Gregory K. Peters, Netflix co-CEO, president and director.
NETFLIX CO-CEO TED SARANDOS TO MEET WITH TRUMP
Memberships without ads will increase more than two dollars, up to $17.99 per month, Peters said. Premium subscribers will have to shell out an extra two dollars a month, bringing the monthly fee to $24.99.
Peters described the company's new pricing as "highly accessible."
"You've seen us take up price across a number of markets in EMEA and APAC and LatAm over the last couple of quarters across most plans and including ads, too. And those changes have gone smoothly," Peters said. "We certainly expect the same for these latest changes.
"I think it's worth noting and reiterating that we believe that our starting price – it's $7.99 in the U.S., $17.99 in Canada for standard with ads – is an incredible entertainment value and it's a highly accessible entry point."
The new prices are already reflected on the streaming service's website.
Netflix saw a whopping 19 million new subscribers in the fourth quarter, contributing to its total 302 million subscribers globally.
Live events, including the Jake Paul vs. Mike Tyson fight and two NFL games, contributed to the company's recent success, according to leadership.
The fight was the most-streamed sporting event of all time, and on Christmas Day, the platform delivered the two most-streamed NFL games in history.
TECH LEADERS BEZOS, ZUCKERBERG, COOK, AND PICHAI LOOK FOR FACE TIME WITH TRUMP
Theodore A. Sarandos, co-CEO, president and director, noted the underlying economics of full-season big league sports is challenging, but if there was a way to make it work, Netflix would explore it.
In addition, the company saw success with the second season of its original series, Squid Game, which garnered nearly 166 million views.
Other top performing shows included: The Diplomat season 2 with 21.4 million views, Senna with 16.2 million views, The Empress season 2 with 21 million views, Outer Banks season 4 with 36.8 million views, The Lincoln Lawyer season 3 with 33.9 million views, and Virgin River season 6 with 27.5 million views.
Leadership noted the company only earns 6 percent of the revenue opportunity in the countries and segments it currently serves.
By improving and expanding its offerings, the company hopes to increase the share every year.
"As we continue to invest in programming and deliver more value for our members, we will occasionally ask our members to pay a little more so that we can re-invest to further improve Netflix," investors were told in the letter.
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Revenue in the fourth quarter jumped 16% year-over-year, reaching $10.25 billion, according to company data. A $15 billion stock buyback pushed shares up 13% Tuesday afternoon.
https://www.foxbusiness.com/technology/netflix-raises-u-s-subscriber-prices-attributes-success-squid-games-nfl-games-paul-tyson-fightSpace heaters sold on Amazon recalled due to electric shock, fire hazardsAmerican-made space heaters that were exclusively sold on Amazon have been recalled due to electric shock and fire hazards.
Nearly 8,000 American-made space heaters were recalled in the U.S. after officials found they could cause electric shock and fire hazards.
The U.S. Consumer Product Safety Commission on Thursday recalled 7,780 Vornado VH2 Whole Room Heaters, which are sold exclusively on Amazon.
The CPSC claims the power cord can "partially detach" from the heater enclosure, potentially leading to cord damage over time, posing electric shock and fire hazards.
MORE THAN 500,000 ELECTRIC SPACE HEATERS RECALLED DUE TO OVERHEATING CONCERNS
No injuries have been reported, as of Tuesday afternoon, according to officials.
The recall involves Vornado VH2 Whole Room Heaters with a "JUL24" or "AUG24" date code and "TYPE VH2" printed on the silver rating label on the bottom of the heater, according to the commission.
The heaters are off-white and have thermostatic temperature control, automatic or continuous fan operation, and two heat settings, according to the CPSC. "Vornado" with a red "V" behind it is printed on the front of the unit. Only units with a "JUL24" or "AUG24" date code are included in the recall.
The heaters in question were sold on Amazon from August to October for about $90, according to the commission.
AMAZON'S RING RECALLS 350,000 VIDEO DOORBELLS FOR FIRE HAZARD
The product was sold by Vornado Air LLC, of Andover, Kansas, and manufactured in the United States, according to officials.
"Consumers should immediately stop using the recalled heaters and contact Vornado to confirm that their product is part of the recall and receive instructions on how to receive a free replacement heater," according to the CPSC.
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To receive a replacement, contact Vornado by calling 844-205-7978 or by emailing vh2recall@vornado.com.
https://www.foxbusiness.com/retail/amazon-exclusive-space-heaters-recalled-due-electric-shock-fire-hazardsNetflix shares soar as company reports surging revenue, tops 300 million subscribersThe fourth quarter was the last for which Netflix will report quarterly paid subscriber counts.[Collection]
Netflix to hike prices on standard and ad-supported streaming plansStreaming giant Netflix said it is increasing the cost of its plans in the U.S., including its cheaper, ad-supported option.[Collection]
Let the Kite Fly High
UNITED NATIONS, Jan 22 (IPS) - The global plastics negotiation process, launched in 2022 under a resolution by the UN Environment Assembly, represents an unprecedented effort to combat the escalating plastic pollution crisis.
Read the full story, “Let the Kite Fly High”, on globalissues.org →
https://www.globalissues.org/news/2025/01/22/38883 [Collection]Ben & Jerry's co-founder launches contest to support Elon Musk's Dept of Government Efficiency: 'DOGE vs Blob'Ben & Jerry’s co-founder Ben Cohen launched the “DOGE vs. Blob" meme contest on his X account shortly after President Donald Trump’s inauguration Monday.
Ben & Jerry’s co-founder Ben Cohen threw his support behind Elon Musk and the Department of Government Efficiency (DOGE) with the launch of a new meme contest on Monday.
On the day of President Donald Trump’s inauguration and the establishment of DOGE, Cohen posted on X that he would be launching the "DOGE vs. Blob" website as a way of backing the department.
"Pentagon bureaucrats torch $2 million of taxpayer money every minute. In honor of @DOGE, I'm launching @dogevsblob, a meme contest highlighting the biggest gov't spender + waster. We're giving away 1,000 @dogecoin a day. If anyone can slash the Pentagon budget, @elonmusk can. Let's support him," Cohen wrote.
VERMONT NATIVE AMERICAN CHIEF SAYS BEN & JERRY'S HEADQUARTERS ON 'STOLEN' LAND
Cohen linked to the website and told followers that they could enter for free up to nine times a day for the next 100 days. He wrote that he will select the two best memes for the grand prize of 10,000 DOGE coins each.
The "DOGE vs. Blob" website highlighted multiple examples of government waste at the Pentagon, stressing how the DOD had failed its seventh consecutive audit in a row.
"Unelected bureaucrats in Washington are torching $2 million of taxpayer money every minute — fueling endless wars, lining their pockets, and drowning the nation deeper into debt. Over $6 trillion has gone to disastrous war efforts, malfunctioning weapons systems, and crony contracts. That ends now," the website says.
It continued, "Elon created DOGE to take down the Pentagon’s bloated budget, nicknamed the Blob for its uncontrollable sprawl. Join the coalition of Blob slayers by spreading facts that inform, shock, and move the needle on Washington’s most wasteful farce — and stack some dogecoin while you’re at it."
In a comment to Fox Business, Cohen said, "I'm supporting an issue and I'm happy to work together with anyone else who supports that issue… I think the key to get anything done in the country is to work with people of any political persuasion where you have common ground. And that's what I'm looking to do."
Cohen and his company have often supported progressive politicians and causes, such as Ben & Jerry’s controversial July 4th tweet in 2023 calling for the U.S. to return "stolen Indigenous land."
However, Cohen has also previously voiced his disdain for U.S. involvement in Ukraine’s war with Russia and called for peace negotiations, which Musk has endorsed.
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"In the end, money won," Cohen said in 2023. "And today, not only are they providing weapons to all the new NATO countries, but they’re providing weapons to Ukraine."
"I’m not supporting Russia, I’m not supporting Ukraine," he added. "I’m supporting negotiations to end the war instead of providing more weapons to continue the war."
https://www.foxbusiness.com/media/ben-jerrys-co-founder-launches-contest-support-elon-musks-dept-government-efficiency-doge-vs-blobTrump announces largest AI infrastructure project 'in history' involving Softbank, OpenAI and OraclePresident Donald Trump was joined by the CEOs of Softbank, OpenAI and Oracle to announce a major private artificial intelligence infrastructure investment.
President Donald Trump unveiled a massive artificial intelligence (AI) infrastructure project from the private sector on the first full day of his second term in office on Tuesday.
During a speech at the White House, Trump announced that Softbank, OpenAI and Oracle have joined forces for a project called Stargate, to build data centers in the U.S. for powering AI.
The CEOs of all three tech firms – OpenAI's Sam Altman, Oracle's Larry Ellison, and Softbank's Masayoshi Son – joined Trump from the Roosevelt Room at the White House for the announcement.
The initial investment for the project will be $100 billion, with plans to expand to $500 billion over the next four years. The first data center built under the initiative will be in Texas, and it will eventually expand to other states.
Trump said it is "the largest AI infrastructure project, by far, in history."
US CEOS HAVE ‘NOTHING BUT HOPE’ THAT TRUMP BRINGS ‘CRAZY GOOD GROWTH’ FOR BUSINESSES
Trump was working to drum up private business investments in the U.S. prior to his second term. Last month, Son joined Trump in announcing Softbank's plans for a $100 billion investment in America aimed at generating 100,000 new jobs.
A White House official told FOX Business that post-election, Trump has now secured $1 trillion in private investment for the U.S. in various projects.
As a candidate in 2016, Trump promised to push a $1 trillion infrastructure bill through Congress. He talked about the topic as president often during his first term from 2017 to 2021, but it did not come to fruition.
BUSINESS, ENERGY GROUPS PRAISE TRUMP'S DAY 1 ACTIONS
His Democratic successor, Joe Biden, signed a $1 trillion infrastructure bill into law in 2021 with Republican and Democrat lawmakers to fund thousands of projects to rebuild roads and bridges and fund new climate resilience and broadband initiatives.
The second Trump administration and the new Congress will have opportunities to put their stamp on the infrastructure law Biden passed. Agency officials will be able to award tens of billions of dollars in remaining competitive grants, Brookings Institution said in a blog in November.
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Meanwhile, Trump has signed dozens of executive orders since he was sworn into office on Monday, advancing his administration's goals on issues from illegal immigration to withdrawing from the World Health Organization.
FOX Business Edward Lawrence, Fox News Digital's Paul Steinhauser and Reuters contributed to this report.
https://www.foxbusiness.com/politics/trump-announces-major-ai-infrastructure-investmentBarron Trump business partner clarifies future of luxury real estate venture: 'Will not be relaunched'A luxury real estate venture that Barron Trump was part of will not be re-launched, FOX Business has learned.
A luxury real estate venture that Barron Trump, the youngest son of President Donald Trump, was part of will not be re-launched, one of his partners in the project said.
The New York Post initially reported that the younger Trump planned to launch Trump, Fulcher & Roxburgh Capital Inc. with two business partners, Carter Fulcher, and Cameron Roxburgh, his former high school classmate.
The company was incorporated in the state of Wyoming on July 15, 2024, according to business filings reviewed by Fox Business. The filings show the company was then dissolved shortly after the election on November 14, 2024.
"As of now the company will not be relaunched," Roxburgh told FOX Business.
SEE IT: BUSINESS LEADERS AT TRUMP'S INAUGURATION
The company was reportedly planning to primarily focus on high-end real estate projects, including golf courses and properties in Utah, Arizona and Idaho.
The venture was listed in Mar-a-Lago in Palm Beach, Florida, as its principal address, according to business records.
Roxburgh previously told Newsweek that the venture was briefly paused to avoid election-related media attention. However, when FOX Business reached Roxburgh for comment, he said the company will not be relaunched.
PRESIDENT DONALD J. TRUMP, VICE PRESIDENT JD VANCE OFFICIALLY SWORN INTO OFFICE
Fulcher, a luxury real estate expert whose family runs a prominent real estate firm in Idaho, was the third partner in the venture. Fulcher is also the cousin of U.S. Rep. Russ Fulcher, an Idaho Republican.
FOX Business has reached out to both Fulchers for comment.
President Trump followed in his father's footsteps when he took over his residential real estate company in 1971, which came before he launched multiple Trump luxury high-rise buildings, hotels and casinos and solidified the Trump brand.
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Days before the younger Trump incorporated his venture, his brother, Eric Trump, also incorporated ET Talks LLC., an undisclosed firm.
https://www.foxbusiness.com/politics/barron-trump-business-partner-clarifies-future-luxury-real-estate-venture-will-not-relaunchedFCC ends DEI initiatives after Trump's executive orderPresident Donald Trump moved to end federal DEI programs with an executive order on Inauguration Day, and new FCC Chairman Brendan Carr has taken action on the rollback.
President Donald Trump on Monday signed an executive order ending diversity, equity and inclusion (DEI) programs in the federal government, and the Federal Communications Commission (FCC) on Tuesday carried out that directive after the change in presidential administrations.
FCC Chairman Brendan Carr said in a post on X he is "ending the FCC's promotion of DEI and will focus our work on competently carrying out the FCC's statutory mission." Carr added that the FCC will no longer include the promotion of DEI in the agency's strategic plans.
Carr explained the reasoning for ending the agency's DEI programs in a statement released by the FCC and said, "Promoting invidious forms of discrimination runs contrary to the Communications Act and deprives Americans of their rights to fair and equal treatment under the law.
"It also represents a wasteful expenditure of taxpayer resources. Nonetheless, the FCC joined other private and public sector institutions in promoting discriminatory DEI policies during the Biden administration. The FCC did so by embedding DEI in its strategic priorities, budget requests, advisory groups, rulemaking proceedings and many other components of its official work."
IS DEI DYING? HERE'S THE LIST OF COMPANIES THAT HAVE ROLLED BACK THE 'WOKE' POLICIES
"Yesterday, President Trump took quick and decisive action that will end the radical and wasteful DEI programs that have spread across the government," Carr wrote in a statement released by the FCC. "President Trump's leadership on this will deliver great results for the American people as agencies act pursuant to his executive order."
Among the DEI initiatives Carr is eliminating at the FCC is its promotion within the agency's strategic plan, in which the promotion of DEI was listed as the regulator's second-highest strategic priority.
MARK ZUCKERBERG BLAMED SHERYL SANDBERG FOR META 'INCLUSIVITY' PUSH: REPORT
During the Biden administration, the FCC also signaled to Congress in its annual budget requests it would use appropriated funds to promote DEI, requests that will now be left out of future requests.
The FCC's DEI advisory group and a cross-agency group known as the Digital Discrimination Task Force will also be disbanded.
Additionally, the FCC's equity action plan will be rescinded, and a directive tasking the FCC's advisory committees to promote DEI will be revoked.
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DEI will also be eliminated from the FCC's annual performance plans, along with its economic reports.
https://www.foxbusiness.com/politics/fcc-ends-dei-initiatives-following-trumps-executive-orderMcDonald's goes nostalgic; rolls out Pokemon Happy Meals in USMcDonald’s extremely popular Pokemon Happy Meals have made a comeback. U.S. restaurants began selling them on Tuesday, the fast-food giant said.
McDonald’s extremely popular Pokemon Happy Meals have made a comeback.
U.S. restaurants began selling the limited-time, themed Happy Meals on Tuesday and will continue to offer them while supplies last, the fast-food giant said.
"There’s nothing more exciting than when we can bring campaigns to our fans with partners that we’re fans of ourselves," McDonald’s senior marketing director Guillaume Huin said in a statement. "Much like they do for McDonald’s, our fans have deep nostalgia and love for the Pokemon brand."
Those who order the Happy Meals will "have a chance to discover various Pokemon, including fan-favorite Dragon-type Pokemon," according to McDonald’s.
MCDONALD'S DEBUTS NEW VALUE MENU, EXTENDS $5 MEAL DEAL
That will be possible thanks to the Pokemon trading card game "booster" pack of four cards that accompany the Happy Meals, along with a poster and stickers.
Through the collaboration with Pokemon Company International, the fast-food giant said there are 15 different Pokemon trading cards – each featuring a different Pokemon – that Happy Meal buyers can get.
McDonald’s customers can also expect the Happy Meal boxes themselves to sport Pokemon on them. Three versions of the boxes have one Pokemon – Charizard, Rayquaza or Roaring Moon – while another bears Pikachu and Dragonite’s likenesses, McDonald’s said.
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The fast-food giant has paired Happy Meals with Pokemon cards multiple times in the past. In 2021, for instance, the companies gave out packs of Pokemon trading cards in Happy Meals that had Pikachu on the boxes to commemorate Pokemon’s 25th anniversary, Fox News Digital reported.
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This time, McDonald’s said Pokemon Happy Meals ordered through its app will earn fast-food customers an "in-game bonus at no cost" for Pokemon’s mobile trading card game.
Happy Meals have been part of the McDonald’s menu for decades. The meal, a popular order for children, marked its 40th anniversary in 2019.
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US CEOs have 'nothing but hope' that Trump brings 'crazy good growth' for businessesThe minds behind Kona Ice and Layne's Chicken Fingers believe Trump's second administration fuels "renewed hope" for business leaders who want to grow and reinvest in their companies.
From Wall Street to Main Street, business leaders have started expressing their hopes that President Donald Trump will bring a boon to the economy and those who make it run.
"I don't care what politics you have, what side of the aisle you're on, you had to walk away yesterday with, as a small business owner, nothing but hope," Kona Ice CEO Tony Lamb said on a "Big Money Show" panel, Tuesday.
"It's become so expensive in what we do," Layne’s Chicken Fingers CEO Garrett Reed added. "We can bring that down, help pass those savings along to the consumers."
Throughout his presidential campaign, Trump promised a pro-growth, anti-regulation platform for America’s entrepreneurs. He followed up on that promise by putting pen to paper Monday evening following his inauguration, signing dozens of executive orders that included action on energy production and inflation.
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As of Tuesday afternoon, U.S. market futures were all in the green in what one finance expert on "Varney & Co." called the "Trump bounce," with the Dow Jones up more than 400 points, the Nasdaq up 136 points and the S&P 500 up 50 points.
The CEOs expressed confidence in Trump’s "predictability" and policy "consistency."
"In his first administration… it was fantastic," Lamb noted. "We had crazy good growth through those years. And the last four years, it's been almost adversarial, it feels like it really has. And so you've got this renewed hope."
"I think energy is the most unbelievable thing that Trump can help do in this administration," Reed chimed in. "My franchisees [are] shipping chicken, shipping potatoes, shipping everything to stores, the gas that we have to burn. The energy costs have been so out of control over the last few years."
"I don't think any of my franchisees or any of the small business owners want to raise prices. That's the last thing we want to do," Reed added.
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Lamb, who oversees more than 800 franchise operations, emphasized that his employees who share "different politics" are all "very excited" about the economic future under Trump 2.0.
"What we're [getting] excited about is just clarity of even tax codes and things like that," the Kona Ice CEO said. "Now that you're talking about predictability, now you can kind of start planning your growth, you can start planning your reinvestment in your company because, if these tax cuts continue on, and we get them back, that's extremely important. He's supposed to do that in the first 100 days."
Fox News’ Paul Steinhauser contributed to this report.
https://www.foxbusiness.com/media/us-ceos-have-nothing-hope-trump-brings-crazy-good-growth-businessesPresident Trump follows through on day one with trade, energy, DOGE executive ordersPresident Donald Trump signed dozens of executive orders after his inauguration on Monday, and followed through on promises related to energy, government efficiency and trade.
President Donald Trump signed dozens of executive orders amounting to roughly 200 executive actions on his first day back in the Oval Office following his second inauguration on Monday.
The president wasted no time in following through on delivering several campaign promises related to cutting government waste, reigniting the U.S. energy industry, and issues regarding trade and national security.
Here are links to several of the executive orders Trump rolled out:
https://www.foxbusiness.com/politics/president-trump-follows-through-day-one-trade-energy-doge-executive-orders