KIGALI, September 16 (IPS) - Agriculture remains underfunded in Africa as governments struggle to deliver on decades-old promises to dedicate 10% of national income to agriculture.
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LONDON & SRINAGAR, India, September 16 (IPS) - At least 124 land and environmental defenders were killed around the world in 2025 while protecting forests, rivers, farmland and Indigenous territories, according to a new report by Global Witness that warns violence against activists remains widespread even as recorded killings have declined from previous years.
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UNITED NATIONS, September 16 (IPS) - In Mali, an estimated nine out of ten women and girls have undergone female genital mutilation (FGM). And for years, Sidi Haidara, a father and recognized leader in his community, believed the practice was simply part of life.
https://www.globalissues.org/news/2026/09/16/44055 {"url":"https://static.globalissues.org/ips/2026/09/Sidi-Haidara_-100x100.jpg"}
UNITED NATIONS, September 16 (IPS) - In recent days, the humanitarian situation in Yemen has deteriorated sharply following a new escalation of hostilities between the Iran-backed Houthi rebels and the Saudi-backed Presidential Leadership Council (PLC). This follows four years of relative stability, marking the most severe resurgence of violence since the collapse of the United Nations (UN)-mediated ceasefire in October 2022.
https://www.globalissues.org/news/2026/09/16/44056 {"url":"https://static.globalissues.org/ips/2026/09/Khaled-Khiari-100x100.jpg"}Baseball Hall of Fame pitcher and legendary New York Yankees starter CC Sabathia has told the story many times: Dave Stewart changed his mindset forever at just 9 years old in his hometown Vallejo, California.
Stewart, a three-time World Series champion and World Series MVP during his time pitching for the Oakland Athletics, made a surprise visit to Sabathia’s Boys and Girls Club when he was just a kid. Stewart shared a message of inspiration, and it’s one that stuck with a fellow African American major league great who just so happened to hoist his own World Series trophy in a town known best for their hardware on the diamond.
It’s hard to become a Yankees legend, and it’s even harder to find your name amongst the rarest of rare in Monument Park, where the likes of Mickey Mantle, Babe Ruth and Lou Gehrig reside in immortality. On Sept. 26, Sabathia will have his No. 52 retired forever by one of the most iconic franchises in sports, an honor he can’t wait to finally see come to life after learning the shocking news months prior.
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But while Sabathia’s on-field accomplishments are Hall of Fame and Monument Park worthy, his off-the-field contributions to the next generation are just as timeless and important.
That was on full display Monday at Alpine Country Club in New Jersey, where Sabathia held his 6th Annual Golf Classic for his PitCCh In Foundation. With golf being his latest sports passion post-retirement, it’s a day Sabathia looks forward to with his friends while making a community impact that feels as good as hitting a hole-in-one.
"It’s always fun to be able to get out on the golf course and obviously raise money for a good cause," he told FOX Business before teeing off alongside the likes of Victor Cruz, Gary Sheffield, JR Smith, Matt Barnes, Ron Harper, Jimmy Rollins, Ja Rule and the list goes on. "Our foundation, the money goes directly to the kids in the Bronx. Our kids back home in our hometown of Vallejo [California], this is a direct effect of people coming out here to play golf.
"I was just sitting down talking to Adam Jones and talking about being able to play golf, and the last six years, the network I’ve been able to build just around the game of golf. I wish I would’ve been playing longer, but I’m here now and excited."
The event raised more than $450,000 to help PitCCh In continue creating opportunities and resources for young people and their families on both coasts in one unforgettable day.
It’s moments like this that have Sabathia excited for this next chapter of his life. Yes, he will still be impacting the game of baseball, whether that be broadcasting, or working with the Yankees and MLB as a whole.
But his foundation is something he holds near and dear to his heart, as does his wife Amber and their four children. In fact, PitCCh In is a true part of the family in their eyes.
"It’s great to see the foundation thriving in retirement. Sometimes in retirement, foundations go by the wayside, or players get busy and different things happen. But this is kind of our fifth child we’ve always said," he said, smiling. "PitCCh In has been such a huge part of not just our lives, but like we said, kids on both coasts [and] our kids’ lives.
"I was just with Derek [Jeter] and he celebrated his 30 years for Turn 2 [Foundation], and just the impact he’s been able to make on the youth just in general. So many different stories, Jeter’s Leaders [Program] and people, in the last 30 years that he’s been able to impact. Hopefully, PitCCh In can continue to be that vehicle for years to come, too."
PitCCh In has done everything from field renovations to baseball clinics, to providing college scholarships and school supplies as ways to impact the communities the Sabathia family cares about most. They also have a mentorship program where, through educational and athletic activities, the lives of the youth involved are strengthened on levels both physical and emotional.
Sabathia’s baseball legacy will be told forever in the halls in Cooperstown and behind the center field wall at Yankee Stadium come Sept. 26. But his story is one that goes well beyond the baseball player.
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It’s also the person he is, and the family he’s surrounded by, that continues to support and impact in a way he felt from the very beginning.
"It was big for me when I was a kid, just having people that took interest in my life," he said. "I just think about me being lucky in the situation I was in, whether it was my Boys and Girls Club – there was a guy named Philmore Graham who ran my Boys and Girls Club and took a huge interest in me. My high school baseball coach, my fifth grade teacher, all these different people who made an impact and why I’m sitting here. I want to hopefully be that for a kid."
https://www.foxbusiness.com/sports/cc-sabathia-excited-pitcch-foundations-future-annual-golf-event-raises-over-450k-youthA recall has been issued for So Delicious Dairy Free Salted Caramel Cluster Non-Dairy Frozen Dessert pints over the potential presence of foreign materials, including small stones and other hard objects, within the cashew inclusions.
Danone USA announced the voluntary recall for So Delicious Dairy Free Salted Caramel Cluster Non-Dairy Frozen Dessert pints on Tuesday.
The recalled dessert item is packaged in pint containers with best-by dates on and before April 3, 2028. The recall applies to SKU 136603 (UPC 744473476138).
CREAM CHEESE AND DELI SALADS RECALLED OVER POTENTIAL LISTERIA CONTAMINATION
The recalled product was distributed to retail stores across the U.S.
The company is working with retail partners to remove affected products from shelves.
POPULAR SQUISHY TOYS RECALLED OVER POTENTIALLY DEADLY WATER BEAD HAZARD
No other So Delicious Dairy Free flavors or products are affected by the recall. Unaffected items are still available on store shelves, and products shipped moving forward are not affected by the recall.
The issue was identified through consumer complaints, the company said.
Danone USA said it has notified the Food and Drug Administration about the voluntary recall.
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Consumers who purchased the affected product are instructed not to consume it and to contact the So Delicious Dairy Free Consumer Care Line at 1-833-367-8975 for a replacement coupon or refund.
https://www.foxbusiness.com/economy/popular-so-delicious-frozen-dessert-recalled-over-possible-stone-contaminationFord Motor Company is refreshing its best-selling F-150 pickup for 2027 with hands-free towing technology, updated styling and the first-ever F-150 Carhartt edition.
Greg Christensen, Ford's general manager of North America Trucks, told Fox Business that the overhaul was shaped by how customers actually use their trucks — from hauling equipment to work to towing boats and campers on weekends.
One of the biggest additions is BlueCruise with Towing, which allows drivers to travel hands-free, with their eyes on the road, on more than 130,000 miles of compatible highways while towing trailers weighing up to 10,000 pounds.
FORD TO INVEST $1B IN KENTUCKY TRUCK PLANT
"Towing is fundamental to our customers," Christensen said, adding that more than 75% of F-150 owners tow.
Ford is also updating the powertrain lineup with a new standard 3.0-liter EcoBoost V6 engine, bringing the 5.0-liter V8 back to King Ranch and Platinum models while adding more affordable Tremor and Raptor variants to broaden access to its off-road lineup.
"We are really thinking about customers in that respect and affordability and accessibility," Christensen said.
DUFFY PUTS FORD ON NOTICE OVER CHINA TIES, WARNS OF SECURITY CONCERNS
Ford is also expanding its partnership with Michigan-based workwear brand Carhartt, introducing the first-ever F-150 Carhartt package.
Available on 4x4 XLT Crew Cab models, it adds exclusive styling, Carhartt-inspired interior accents, a branded spray-in bedliner and all-weather floor mats.
"We couldn't be more excited about another iconic American brand partnering with us," Christensen said, pointing to the companies' shared roots.
FORD BOOSTS US LINCOLN PRODUCTION AS IT PHASES OUT IMPORTS FROM CHINA
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Earlier this year, Ford and Carhartt unveiled a broader collaboration aimed at highlighting what the companies call the "essential economy."
As part of that collaboration, the companies also introduced a Ford Super Duty Carhartt truck — a Super Duty XLT pickup co-developed by the two brands and designed for the "essential workers both companies have served for generations," Ford said at the time.
https://www.foxbusiness.com/markets/ford-unveils-2027-f-150-hands-free-towing-first-ever-carhartt-editionTreasury Secretary Scott Bessent on Tuesday told lawmakers in Congress that the U.S. needs to foster open artificial intelligence (AI) models to compete with those made by Chinese firms.
Bessent testified before the House Financial Services Committee about the economy and international finance, with AI emerging as a key topic of discussion.
The Treasury secretary was asked about advances in AI and progress toward artificial general intelligence and noted Anthropic's Mythos model released earlier this year represented a step change in that progression, while he added that the U.S. needs more open-source AI models.
"One of the things I would say is that we need to develop… more open-source models in the U.S. We can't let these large labs have regulatory capture because that will stop innovation," Bessent told the panel.
SAM ALTMAN SAYS OPENAI WON'T GO PUBLIC IN 2026 AMID AI SAFETY CONCERNS
Open-source AI models are made available for the public to inspect their codebase, see their training parameters or use them for a given project, while closed-source models made by AI labs are controlled by the developer and only available to those who have obtained access.
AI labs in China have trained open-source models on U.S. tech companies' closed-source models through a process known as distillation, which has helped build more capable models at a lower cost.
For example, an open model from a Chinese developer was used to help deal with a breach in which an OpenAI model escaped containment and hacked Hugging Face.
BESSENT HIGHLIGHTS TRUMP ECONOMY, WARNS CHINA HAS 'DONE A LOT OF KICKING LATELY'
"One of the ways we can push back against China, because the Chinese models, they distill from the U.S. models – which is a polite, scientific word for steal – and the more we develop our own open source models here, or open models here, then… eventually the Chinese models, people will not use them," Bessent said.
The Treasury secretary added that China's distillation of models made by U.S. tech companies has led to a situation in which "many of the Chinese models think they're Mythos, they think they're Claude."
Tech companies in the U.S. have argued against government restrictions on open-weight AI models, arguing that open models accelerate innovation, strengthen cybersecurity and help ensure the competitiveness of the American AI industry.
Nvidia, Microsoft, Meta, Meta, Dell Technologies, Palantir, Hugging Face, Mozilla, Mistral and others signed on to a joint letter in July arguing against restrictions that could stifle open model development, and noting there are ways to address illegal distillation.
"Unlawful efforts to extract value from closed models raise legitimate concerns," the joint letter stated. "Those concerns should be addressed through targeted legal and commercial frameworks rather than sweeping restrictions on techniques that play an important role in AI innovation."
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The Trump administration's voluntary AI framework released in August exempted open-source and open-weight AI models from having to undergo pre-release security reviews by the government, which will instead focus on proprietary closed models.
FOX Business' Brittany Miller and Michael Sinkewicz contributed to this report.
https://www.foxbusiness.com/technology/bessent-says-us-needs-more-open-source-ai-models-compete-chinaFord is recalling more than 223,472 pickup trucks due to an improperly secured fuel tank, the National Highway Traffic Safety Administration said.
"In some instances, front fuel tank strap T-slots were not properly inserted into the vehicle’s frame rail at the time of vehicle assembly," the recall report said.
The recall affects certain model year 2023-2027 F-150 pickups, according to NHTSA.
NEARLY 150,000 FORD VEHICLES RECALLED AFTER DEFECT RAISES RISK OF SUDDEN POWER LOSS WHILE DRIVING
An improperly secured fuel tank could increase the risk of a fire or stalling of the engine due to fuel loss, the recall report said. If the tank detaches, it poses a road hazard to other vehicles.
Ford estimates that 1% of vehicles involved in the recall are affected.
SOME OLDER FORD VEHICLES POSE 'UNREASONABLE' SAFETY RISKS, REGULATORS WARN
FORD TO INVEST $1B IN KENTUCKY TRUCK PLANT
Owners will be notified by mail and should take their vehicle to a Ford or Lincoln dealer to have the fuel tanks inspected and replaced, if necessary, the recall report said. The service will be free of charge, Ford told FOX Business.
Notification letters are expected to be mailed to owners beginning Sept. 21.
https://www.foxbusiness.com/lifestyle/ford-recalls-more-than-223000-vehicles-over-fuel-tank-issueThe Federal Reserve is holding a closely watched monetary policy meeting this week as the market expects the central bank to hike interest rates amid concerns about stubborn inflation.
Policymakers have held interest rates steady at all five meetings held by the Federal Open Market Committee (FOMC) this year, with the benchmark federal funds rate sitting at a target range of 3.5% to 3.75%.
Persistent inflation above the Fed's 2% long-run target has prompted concern among policymakers and has shifted the market's outlook to anticipating a rate increase this week, with the CME FedWatch tool showing a 92.5% chance of a 25-basis-point hike versus a 7.5% probability of rates staying at their current level.
The Fed's preferred inflation gauge, the personal consumption expenditures (PCE) index, was up 3.7% on an annual basis in July while core PCE, which excludes volatile food and energy prices, was up 3.3%. Another closely watched inflation measure, the consumer price index (CPI), was up 3.4% annually in August while core CPI was up 2.4%.
WHAT WARSH'S JACKSON HOLE SPEECH SIGNALS ABOUT WHERE INTEREST RATES ARE HEADED
The anticipated rate hike comes as yields on U.S. Treasurys are rising, reaching the highest level in years amid competition in the fixed income market from foreign sovereign debt and corporate debt issuance.
The yield on the benchmark 10-year Treasury note is hovering around 5%, the highest level it's been at since 2007. Higher interest rates on Treasurys increase the federal government's cost to service its debt, which is a key driver of growing budget deficits.
Josh Hirt, senior economist at Vanguard, told FOX Business in an interview on Friday that the "developments over the last week, including the inflation report today, I think almost make the case that you could have a somewhat more adverse reaction if the Fed does not go [on Wednesday] unless the communication around the rationale behind that was extremely strong relative to them actually moving at this meeting."
WARSH SAYS FED'S MAIN FOCUS SHOULD BE ON PRICES WITH CENTRAL BANK'S RATE POLICY IN FOCUS
Hirt said that he "wouldn't see the immediate case for that to really extend any pricing if they were to move," adding that "In fact, it could relieve some of the pressure in some extent, that the Fed did act, that the market is comfortable that they would be willing to do so."
"I think that actually could very much be the case, in fact, rather than the alternative – which would be not going and the market potentially thinking about credibility issues and extending even further."
"The base case would be if they were to move [on Wednesday], I wouldn't see any necessary conditions that the market has to move higher based on that. In fact, it could potentially retrench a bit from where we are today," Hirt added.
FED'S HAMMACK SAYS MULTIPLE RATE HIKES MAY BE NEEDED TO TAME INFLATION
Wednesday's FOMC announcement will also include the so-called "dot plot" that outlines how Fed policymakers view the future path of interest rates. Fed Chair Kevin Warsh declined to submit his own projection due to his opposition to providing forward guidance,
"If they were to move [on Wednesday] and you were to get, say, a level shift up in the dots at least by those participants that submit them, then that would really be an indication that I think the market could move on," Hirt said.
"It wouldn't be my base that you are going to see such a level shift," he added. "At least based on the June numbers, the highest or most hawkish participant had about three rate hikes. It's not clear to me that you would need to see a lot of members move much higher than that, if at all, but maybe just more a move up from those that didn't have any or only had one rate hike."
The market sees a higher likelihood of further interest rate hikes on the horizon after this week's FOMC meeting, as policymakers will meet again in October and December to close out this year before kicking off their 2027 meetings in late January.
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The CME FedWatch tool shows a 49.7% chance of two 25-basis-point rate hikes before the end of the year to a range of 4% to 4.25%, with a 28.9% probability of three hikes of that size to a target of 4.25% to 4.5%. It also shows just a 20% chance of a single rate hike through year's end.
https://www.foxbusiness.com/economy/stubborn-inflation-sets-stage-federal-reserve-hike-interest-rates
NAIROBI, Kenya, August 26 (IPS) - Several coalitions exist today to defend the territories in which people live and work. Global leaders have long understood the importance of shared responsibility for collective security and have invested significant time in establishing networks, partnerships and alliances. In 2025, global spending on defense reached a record $2.9 trillion.
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BRUSSELS, Belgium, August 26 (IPS) - On 24 July, the United Nations (UN) General Assembly reappointed Volker Türk as High Commissioner for Human Rights for a further four years. Only 10 states – among them Israel, Russia and the USA – opposed the decision.
Read the full story, “A Divided Vote for the UN’s Human Rights Chief”, on globalissues.org →
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UNITED NATIONS, August 25 (IPS) - Over the past week, the humanitarian crisis in Colombia has deteriorated significantly following the Mw 7.4–7.5 earthquake that struck the Chocó department on August 10. With the Colombian government declaring a State of Emergency across 15 departments, the nation continues to struggle with massive civilian casualties, immense damage to critical infrastructure, and the disruption of basic services. The national government and the humanitarian community continue to coordinate lifesaving responses and monitor conditions as they evolve.
https://www.globalissues.org/news/2026/08/25/43889 {"url":"https://static.globalissues.org/ips/2026/08/Response-in-Colombia_-100x100.jpg"}Vet Tix surpassed an incredible milestone, as it has now handed out 40 million free event tickets to veterans, active military members, former and current first responders, and their families across all 50 states.
Vet Tix began as a grassroots effort in a garage in Phoenix in 2008, and today, the nonprofit organization has grown into the nation’s largest Veteran Service Organization, serving more than 2.8 million members. They announced their milestone in a press release on Tuesday.
"It’s not just 40 million tickets. It’s 40 million opportunities to create memories, strengthen family bonds and give something back to those who have served our country and communities," Michael A. Focareto III, U.S. Navy veteran, CEO and founder of Vet Tix said in the press release.
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"We’re grateful to the thousands of donors, including sports teams, venues, artists, ticketing organizations and individuals, who make these experiences possible. Every ticket helps us move closer to our goal of reaching veterans, service members and first responders in every community across the country. We also work to create opportunities for the family members and friends who support them by securing ticket donations that appeal to a wide range of interests."
Vet Tix said that the Arizona Diamondbacks were its first major donor in 2008. About 40% of its tickets are sports-related.
Through Vet Tix and 1st Tix, recipients gain access to sporting events, concerts, family attractions, comedy performances and performing arts events. A study conducted by IMPCT Group found that attending live events has significant benefits for the wellness and social engagement of veterans, first responders and their families.
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The study showed that 90% of respondents reported that attending events positively affected their well-being, while 86% of respondents reported stronger family bonds.
The tickets distributed have a combined face value exceeding $2.6 billion, while additional event-related spending has generated an estimated $3.75 billion in economic activity. The total estimated economic impact exceeds $6.5 billion.
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On average, Vet Tix distributes 25,000 to 30,000 tickets a day.
"The act of service to our country and communities is something most Americans will never have to experience," Focareto said. "In addition to enduring the impacts of military deployments or long shifts while on duty, many veterans, service members and first responders endure invisible emotional challenges. These events are much more than a way to pass the time. They create space for moments of joy that are an important part of recovery, rehabilitation, reintegration and reconnection."
https://www.foxbusiness.com/sports/vet-tix-hits-incredible-milestone-effort-help-military-veterans-familiesWalmart is making a new play for younger, style-conscious shoppers with a women’s fashion brand offering most items for less than $25.
The retail giant is rolling out Scenario, a modern bohemian collection featuring apparel, shoes, jewelry, handbags and other accessories, at all of its stores.
The launch includes 280 styles, according to Walmart.
"We’ve been on a journey to democratize fashion by focusing on expanding our assortment, elevating the experience in-store and online, reaching new customers and changing [the] perception [of] Walmart fashion," a spokesperson for the retailer told FOX Business in an email.
The news was first reported by The Wall Street Journal.
WALMART SAYS IT WILL USE BILLIONS IN TARIFF REFUNDS TO KEEP PRICES LOW
Scenario is designed to appeal to women around age 35 who want trendier details than Walmart’s existing brands traditionally offer, according to The Wall Street Journal.
The line includes embroidered blouses, pintuck denim shirts and faux leather bags, with a focus on natural fabrics such as cotton, the outlet reported.
Walmart said it developed the brand after research found nearly one in five women ranked bohemian fashion among their preferred styles, even though none of its existing private labels were perceived as directly catering to that look.
WALMART E-COMMERCE SALES SURGE AS CEO TOUTS 'PRICE, SPEED AND CONVENIENCE'
Scenario will take over some space previously devoted to Time and Tru, Walmart’s women’s brand focused on classic wardrobe staples, according to the Journal.
The retailer tested elements of the bohemian aesthetic within its Time and Tru assortment before deciding to build a dedicated lifestyle brand, the company said.
The existing brand will continue with a smaller selection focused on its most popular items, the outlet reported.
"This is an ‘and’ strategy," Denise Incandela, executive vice president of fashion for Walmart U.S., told the Journal. "We’re still going to cover those big-volume driving socks and underwear and denim and Ts."
POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA
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Walmart said it has launched or relaunched 15 private brands over the past five years as it works to modernize its fashion business.
The retailer said it has also expanded its selection of premium brands through its online marketplace.
https://www.foxbusiness.com/retail/walmart-launches-new-fashion-brand-most-items-priced-under-25Canada is set to announce details of retaliatory tariffs against the U.S. on Tuesday after relations between the two countries deteriorated sharply Monday.
U.S. President Donald Trump warned Canadian leaders on Monday to "fall in line" or face consequences "far WORSE" than existing tariffs and Canadian Prime Minister Mark Carney accused the U.S. government of attempting to subordinate Canada.
The U.S. imposed new 50% tariffs on Canadian goods such as wine, furniture and dairy products, while Carney said U.S. trade demands proved Washington wanted to "destroy our major industries," including autos, steel and aluminum.
The U.S. president also threatened new 50% tariffs said tariffs on Canadian cars, trucks, auto parts and steel would rise to 50% beginning Jan. 1, 2027.
TRUMP SAYS 50% TARIFFS ON CANADIAN VEHICLE, STEEL IMPORTS TO HIT JAN 1
"Without the United States, Canada couldn’t survive — It’s where they get all of their money and, because of their current bad leadership, primarily Governor Carney, and his Flunky, Ford, they will not be allowed to keep taking advantage of the United States — Their key to survival," Trump wrote on Truth Social, referring to Ontario Premier Doug Ford, who had discussed the tariffs during a Monday afternoon news conference.
"Remember, much of the Electricity, Oil, and Gas that Canada gets is transported through the U.S.A. Someone should get these clowns to 'fall in line' or, the consequences for Canada will be far WORSE!" he added.
Carney suggested that Canada was ready to find a solution to the trade war, but only if the U.S. approached the talks as between two sovereign nations.
"An attitude at the negotiation table that Canada is a subsidiary of the United States is not something we are going to accept," he said.
The forceful words from both sides show how relations have deteriorated since suspended negotiations late Friday, after Canada and the United States blamed one another for the collapse in talks. The U.S. imposed 50% tariffs the following day on about $20 billion worth of Canadian goods.
The prime minister had also said over the weekend that Canada "will match Washington's new tariffs dollar for dollar in order to protect Canadian workers, farmers, families, and businesses."
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"You're at war when you get attacked. We got attacked," Carney said when asked if Canada was engaged in a trade war.
The "dollar for dollar" tariffs on imports of U.S. steel, electronics and other products are expected to take effect on September 8.
Ford, whose Progressive Conservative Party typically opposes Carney’s Liberal Party, said that "everything is on the table" if the trade war continues. He also asserted that Canadians are "in for an economic war," adding that they "know they’re going to have to sacrifice."
Reuters contributed to this report.
https://www.foxbusiness.com/politics/canada-plans-tariff-retaliation-after-trump-warns-its-leaders-fall-lineTarget has apologized for a circus clown Halloween costume that critics accused of evoking Blackface and 19th-century minstrel shows following online backlash.
The costume was sold as the "Kids' Glows Under Blacklight Circus Clown Halloween Costume," according to the since-deleted listing. The costume was sold as part of the retailer's seasonal Hyde and EEK Boutique brand.
Target removed the "offensive" costume and said that it should never have been featured in its stores.
TARGET RECALLS 200,000 CHILDREN'S SANDALS OVER POTENTIAL CHOKING HAZARD: CPSC
"As a company, we know we got this wrong, and we are deeply sorry. The costume is offensive and should never have been part of our assortment. It is no longer available for sale," company spokesperson Brian Harper-Tibaldo said in a statement to FOX Business.
"We know this is especially hurtful for our Black guests, team members and partners. Removing the costume is an important first step, and the company is looking closely at how this happened and what needs to change to ensure this won’t happen again," he continued.
The move to pull the costume comes after social media backlash in which critics accused the Minneapolis-based retailer of selling racist merchandise.
"You really don’t have anyone left in Minneapolis to say, 'Hey, that’s racist'? Y’all cut DEI and now you’ve got a minstrel clown costume for kids on your website," one user said on Threads.
This comes on the heels of several reputational hits for the retailer that have hurt sales in recent years, including Target’s handling of its Pride Collection in 2023 and its rollback of diversity, equity and inclusion initiatives after President Donald Trump returned to the White House.
POPULAR PRODUCT SOLD AT TARGET RECALLED DUE TO CONTAMINATION CONCERNS
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Target joined a broad corporate effort to scale back diversity initiatives after Trump issued a series of executive orders aimed at rooting out DEI.
The retailer scaled back initiatives aimed at increasing representation of Black employees and supporting Black-owned businesses and suppliers, saying it needed to stay in step with "the evolving external landscape." The reversal drew backlash from some Black consumers and business owners who had supported or benefited from Target’s diversity efforts.
https://www.foxbusiness.com/economy/target-pulls-offensive-halloween-costume-critics-accused-evoking-blackface-we-deeply-sorryTreasury Secretary Scott Bessent said on Monday that the regularly scheduled Treasury auctions of U.S. debt are expected to continue per usual after his agency announced an increase in the size of buybacks of longer-dated securities.
Bessent spoke Monday at a press conference to discuss a new plan for the "economic asphyxiation" of the Iranian regime through the implementation of secondary sanctions on Iran's trading partners.
During the press conference, the Treasury secretary was asked about whether the agency may reduce the size of auctions for longer-term debt going forward or if there are other actions from the department's toolkit that may be used to help lower yields.
"We are going to continue with our regular program of auctions. So you will be hearing from us again at the beginning of next quarter," Bessent said. He added in response to a follow-up question that, "We haven't bought a single bond yet."
TREASURY YIELDS HIT MULTI-DECADE HIGHS AMID SURGING NATIONAL DEBT
Bessent noted that the next auctions of longer-dated Treasurys, such as the 10-year note and the 20- and 30-year bonds, aren't scheduled until mid-September which is the earliest the new buyback structure could come into play after the change takes effect on Sept. 9.
Under the change, which was announced on Aug. 19, the Treasury's maximum buyback authority rises from $2 billion per operation to at least $4 billion per operation, which will serve as a floor rather than a cap to allow the size of buybacks to respond to market conditions.
The change is expected to remain in effect through the rest of the quarter, or through Nov. 4, after which the Treasury will provide more information about future buyback sizes.
Treasury said in its announcement that the "increase in buyback operations reflects Treasury's desire to provide greater liquidity support in longer-dated nominal sectors where there is consistent strong sponsorship from market participants, as evidenced by the significant volume of high-quality offers Treasury routinely receives in longer-dated buyback operations."
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Last week's announcement lowered yields on the 10-year Treasury note and on 20- and 30-year bonds for a short period of time, though they largely retraced those declines by the end of the week. Yields were down modestly on Monday.
Bessent said last week that the higher buybacks aim to support liquidity in a more thinly traded portion of the market, particularly in the 30-year sector, while the longer-dated Treasurys are also competing with heavy issuance of corporate bonds at higher yields amid the artificial intelligence (AI) buildout.
Higher yields on Treasurys can cause fiscal pressure for the federal government, which is forced to pay more interest to service the national debt. The move comes as the U.S. gross national debt topped $40 trillion for the first time ever last week.
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The Treasury Department's announcement didn't indicate the funding source for the Treasury buybacks. A Reuters report noted that the Treasury General Account (TGA) at the Federal Reserve could serve as a source because it would negate the need to issue new, shorter-dated Treasurys – though it would eat into the nation's cash reserves.
The TGA effectively functions as the federal government's checking account, as it's used to pay for daily government operations ranging from federal worker salaries, contracts and Treasury's interest and principal obligations.
As of last Wednesday, the TGA stood at about $940 billion in funding. Treasury has beefed up the TGA this year in part to help pay for some of the $166 billion in tariff refunds owed to importers in the wake of a Supreme Court ruling that struck down a key portion of President Donald Trump's tariff regime.
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In the past year, the TGA has had an average balance of around $840 billion, which was the highest ever outside its rapid run-up during the COVID-19 pandemic.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/scott-bessent-says-treasury-auctions-continue-usual-despite-expanded-buyback-programBuc-ee’s CEO suggested recently that the Texas-based travel center chain may be done looking into blue districts, saying some communities do not appreciate what the company brings while conservative states offer business-friendly and family-oriented values.
Arch "Beaver" Aplin III, the company’s president and co-founder, made the comments during the grand opening of Buc-ee’s newest location in Benton, Arkansas on August 17. The chain is known for its expansive gas stations, famously clean restrooms and in-house food offerings.
"We have a lot of opportunities. We're growing. We're building in a lot of places. But when you find a conservative business-friendly state with a phenomenal workforce, it makes a difference," Aplin said.
Aplin criticized states that he said do not appreciate what Buc-ee’s brings to their communities, suggesting the company would rather focus its expansion efforts elsewhere.
BUC-EE'S OPENS FIRST ARKANSAS LOCATION AS CHAIN EXPANDS ACROSS US
"I'm starting to realize life's too short to try to build in places that people don't appreciate what you're bringing, versus a place like this where people do appreciate what you are building," he said.
Conservative states typically promote business-friendly and family-oriented policies that align with Buc-ee’s values, Aplin said.
"That leadership, that concept, that idea of conservative, business-friendly, family-oriented concept works so much better if it trickles down from the very leadership from the top at the governor's office, at the congressman, at senator, at the mayor, the representatives," he said.
Aplin pointed to Benton as an example of the approach, saying the city’s business-friendly environment helped pave the way for Buc-ee’s newest location.
"What we found when we got here into Benton was a business-friendly town," he said.
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Founded in 1982, Buc-ee’s operates sprawling travel centers that typically feature 74,000 square feet of space and 120 fueling positions. The locations often create more than 200 jobs, according to the company.
Buc-ee’s currently has 58 locations, including 37 in Texas, according to the company’s website.
The chain has expanded to 13 other states, including Alabama, Georgia, Florida, Kentucky, Tennessee, Arkansas, Arizona, Colorado, Mississippi, Missouri, Ohio, South Carolina and Virginia.
Nearly all the cities where Buc-ee’s operates are located in areas that generally lean conservative, with a few exceptions where local political dynamics are more mixed.
Auburn, Alabama, for example, is a college town located in a predominantly Republican county, giving it a more politically mixed environment than some surrounding communities.
Brunswick, Georgia, has a Democratic-leaning municipal base despite being located in Glynn County, which has generally leaned Republican.
Goodyear, Arizona, has become a competitive suburban area in recent election cycles and is located in the West Valley of Maricopa County, a region that has historically leaned Republican but has become increasingly politically competitive.
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More Buc-ee’s locations are slated to open in the coming years, including a travel center in Murfreesboro, Tennessee, on Nov. 16.
Six locations are also expected to open in 2027, including sites in Ruston, Louisiana; Kansas City, Kansas; Gallaway, Tennessee; St. Lucie, Florida; Boerne, Texas; and Monroe County, Georgia.
Two additional locations are planned for 2028 in Mebane, North Carolina, and Lafayette, Louisiana.
https://www.foxbusiness.com/retail/buc-ees-ceo-signals-expansion-shift-away-blue-states-dont-appreciate-chainSeveral former Jersey Mike’s executives and franchisees are reuniting at Dog Haus, betting the lessons they learned helping build the submarine sandwich giant can turn the fast-casual restaurant chain into a national powerhouse.
Dog Haus recently named former Jersey Mike’s chief innovation officer James Field as chief marketing officer. He joins President and Chief Development Officer Chris Rigassio and Chief Operating Officer Garen Khodaverdian, both former Jersey Mike’s franchisees.
The reunion follows Blackstone’s January 2025 acquisition of a majority stake in Jersey Mike’s in a deal valued at roughly $8 billion, according to SEC filings.
Field told FOX Business that the group could have pursued separate opportunities following the sale, but saw a chance to stay together and help scale Dog Haus, which currently operates roughly 60 locations.
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"We all could have gone off and done different things individually after the sale of Jersey Mike's," Field said. "… I think we just thought if we stay together, it's a one plus one equals three scenarios."
Field added: "When you’ve been in the trenches with people through that type of brand growth that you saw at Jersey Mike’s, you say, ‘My gosh, let’s run it back.'"
Dog Haus CEO Michael Montagano said the company is "laser focused" on growing from roughly 60 restaurants to 300, with a $1 billion valuation serving as its "North Star."
"One major step in that success is building a team that is capable of executing to this level of scale," Montagano told FOX Business.
He said Jersey Mike’s grew systematically while maintaining strong relationships with franchisees and delivering a consistent customer experience — a model Dog Haus hopes to follow as it enters new markets.
"Ultimately, that was done very responsibly and yielded a fantastic result," Montagano said.
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Founded in Pasadena, California, in 2010, Dog Haus serves hot dogs, sausages, burgers, chicken and breakfast burritos. The chain opened its first permanent international restaurant in Mérida, Mexico, in June.
Field said Dog Haus’ founders, food and early investments in delivery and digital ordering helped convince the former Jersey Mike’s leaders that the brand was ready for a larger growth push.
"When you look at the assets that it has, it’s primed for success," Field said. "… When you look at what Dog Haus has been through over the last 15 years — different economic cycles, different crazes and fads and trends in the industry — not only has it survived, but it’s thrived."
The company is now building the infrastructure it believes it will need before accelerating expansion.
Dog Haus plans to divide the country into 15 regions overseen by area directors responsible for maintaining quality and guiding local growth. The company is also building its corporate infrastructure before accelerating expansion.
PIZZA HUT MAKES SURPRISING CHANGE TO ICONIC NAME AHEAD OF NFL SEASON
"We're thinking ahead and making sure that we have the right pieces in place in order to meet that demand that we're already seeing at scale," he said.
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Montagano said having executives who understand both the corporate and franchisee sides of the business gives Dog Haus an advantage as it pursues its expansion target.
"We believe that going 60 to 300 over the next few years is really a layup," Montagano said. "It's really about what we can do beyond that."
https://www.foxbusiness.com/lifestyle/jersey-mikes-alums-look-run-back-fast-casual-chain-dog-haus-targeting-300-locationsThe Raiders continue to impact the Las Vegas community, as they announced their largest philanthropic commitment in the franchise’s history on Monday.
The Raiders and Intermountain Health announced a $25 million gift to help build Nevada’s first-ever stand-alone children’s hospital.
The gift by the Raiders was led by owners Mark Davis, Egon Durban, and Michael Meldman, who each contributed $5 million toward the hospital’s development. The Raiders committed an additional $10 million for this game-changing gift.
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"We want this gift to remind children and families that they have our team backing them and that the support of the entire Raider Nation is in their corner," Davis said in a statement about the philanthropic achievement.
Mitch Cloward, Intermountain Health’s region president, added: "The Raiders are committed to excellence, and this gift is a generational investment that will keep families closer, strengthen our community, and give every kid every chance to thrive.
The hospital, which will be located at the UNLV Harry Reid Research and Technology Park, will be the first of its kind in Nevada, "anchoring a new future for kids and families across the state and delivering comprehensive, high-acuity pediatric care."
The building will be 828,000 square feet and will rest on a 33-acre campus with 180 patient beds, with the design allowing room to grow.
The hospital will provide advanced emergency services designed specifically for children and a full-spectrum outpatient center alongside with inpatient and specialty care.
And as a result of the $25 million gift, Intermountain Health Nevada Children’s Hospital’s physical therapy and rehabilitation space, as well as its bistro, will be named in the Raiders’ honor.
It will be the Las Vegas Raiders Bistro, which will sit adjacent to the hospital’s main lobby. The press release noted this as "a space where caregivers and parents navigating the complexities of having a child in the hospital can pause," providing "a quiet meal, or seeking a moment of normalcy" where families can find support.
"Sports reminds us that we do our best when we have the right team around us," Meldman said in a statement. "Families deserve to feel supported every step of the way. In addition to the experts at Intermountain Health, the Raiders family stands with our community’s kids."
The Las Vegas Raiders Inpatient Rehab Gym will also play a vital role in helping children "heal, grow stronger, and regain confidence through movement and play." The space will provide advanced therapeutic equipment alongside some playful design elements to make therapy feel more empowering and fun.
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"When we invest in children, we invest in everything that comes next – their education, their opportunities, and their future," Sandra Douglass Morgan, president of the Raiders, said in a statement. "We want Nevada’s kids to know that their home team is cheering them on."
Construction on the landmark hospital is expected to start in coming months, with an anticipated opening date coming for 2030.
https://www.foxbusiness.com/sports/raiders-announce-25m-grant-help-build-nevadas-first-stand-alone-childrens-hospitalThe U.S. Open is back in Queens this week, as the final Grand Slam of the year brings millions of fans together at the USTA Billie Jean King National Tennis Center to witness some of the best men’s and women’s players in the world competing for glory.
As fans gear up to soak in hundreds of matches over the next couple of weeks, IBM and the United States Tennis Association announced new and enhanced AI-powered fan features within the popular U.S. Open app and USOpen.org for this year’s tournament.
For decades now, IBM has been working with the U.S. Open to truly evolve the fan experience, especially in recent years with AI-powered innovations that are designed to cut through all the noise and allow fans to personalize their tennis experience at their fingertips.
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That experience has evolved into one in which the fans demand AI-powered features because accuracy, not speed, has been shaping the digital sports realm for those consumers. According to new global research commissioned by IBM and conducted by Morning Consult, sports fans’ digital expectations are evolving as platform choices multiply, with 46% of more than 20,000 sports fans across 12 countries saying their expectations for digital sports experiences have increased in just the past one to two years. Also, 72% of surveyed fans say they use sports apps as their central hub for fandom, while 40% said having their information in one place is their leading motivation to follow along.
As a result, IBM continues to transform that experience in a way fans can enjoy one of the best tournaments in all of sports this week.
"I think we have such an incredible reputation in tennis through our two [Grand] Slam partnerships, as well as The Masters, where there’s this anticipation for the event, but also to see how we’re going to keep them connected," Kameryn Stanhouse, vice president of sports and entertainment partnerships at IBM, told Fox Business in a recent interview.
"That’s one of the things that I love about what we do in sports is that we actually leverage technology as a way to foster conversations and connection. You can talk to people whether they’re able to go to tennis matches [or not]. We’ve got 1 million people that are going to go to the [UTSA] Billie Jean Tennis Center across the two weeks, and then 14 million people are going to be engaged at home on their couch, but able to feel like they’re courtside and engage on that second-screen experience."
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What will that second-screen experience look like for the 2026 U.S. Open? First, an all-new Live Updates homepage will provide fans with a smarter and more personalized way to follow the action they care about the most. Stanhouse emphasized fans being able to choose their favorite players and quickly zero in on those matches, while getting insight and stories they care about in the process.
Another new feature Stanhouse is very excited to see in real time is the Serve Quality metric, which is a "first-to-market feature" that provides a whole new context to one of the most important aspects of tennis.
Last year, American women’s star Coco Gauff came into the U.S. Open with a new coach specifically to help with her serves. Service can be the difference between winning and losing, and those generally with superior serves win matches.
This new feature from IBM will be available across all 254 singles matches, where the AI-powered tool will use advanced limb-tracking technology developed with IBM Bob to help analyze the precise mechanics of every serve. And the continuous stream of this live data will be managed by IBM Confluent.
"We basically trained this model to look at all the historic white papers, all the research about serves. Then, we’re looking at 21 specific joint points on the body – everything from the elbow to the big toe that looks at momentum," Stanhouse explained. "The position of a serve on the court, where it lands. We have six different coordinates we’re looking at all the way to the racket positioning. Synthesizing all of that, it’s doing snapshots 50 times per second – lots of data points in this one. But overall, 1.2 billion data points that’s going to be analyzed over the tournament to give you a Serve Quality number."
Also, the new "Key Moments" feature within the app takes the popular "Likelihood to Win" feature to the next level to help fans understand why someone is winning – not just who is up in the match. The "Likelihood to Win" feature became a hit as it calculated each player’s probability of victory using an AI-powered analysis of current and historical statistics, expert opinion and match momentum.
Now, "Key Moments" will provide additional, more rich information, to summarize those momentum shifts in matches.
"We’re looking at that structured and unstructured data, taking AI to make an analysis, and then make a pre-match projection that takes into consideration not only how they’ve been playing, but what’s the media saying? What’s been said on social media? What are the broadcasters saying? Did someone get a new tennis coach? Do they have a lingering injury? So, we take all that into consideration and provide a pre-match projection," Stanhouse added.
Finally, as fans have become more accustomed to an AI experience over the years, IBM’s enhanced "Match Chat" will act as an interactive companion to help provide whatever insight is needed to help guide the user through the tournament. Everything from analysis to finding out Serve Quality, to simply figuring out how to pronounce someone’s name properly, Match Chat, powered by watsonx Orchestrate, is a collection of AI agents and fit-for-purpose models trained to give fast, accurate responses that keeps fans informed whenever they need it.
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For Stanhouse and her team, the U.S. Open is simply another opportunity to showcase what IBM can do for not just the sports world, but drive the conversation for other companies to utilize the fun, engaging technology they’ve developed for themselves.
"Everybody says my team has the best job at IBM. There’s many, many great jobs, but I think what we do is so exciting because there’s a tangible output that people actually see and people are waiting for. Each tournament that we go to is not only a learning opportunity because we’re constantly thinking about how we’re going to evolve things for the next year, but it’s such a pay-off to see everything come to life. Because what we do is not just serve the fan experience, but we’re so creating unique conversation pieces for our clients. They see how IBM technology makes all of this possible and inspire what you could do with us."
https://www.foxbusiness.com/sports/ibm-continuing-enhance-fan-experience-new-ai-powered-features-us-open-including-serve-qualityGoogle is reportedly moving forward with shifting all manufacturing of its Pixel devices outside of China starting in 2027.
The tech giant has previously made its Pixel phones, watches and earbuds in China – though that's set to change next year, with Google informing suppliers that the production of those devices will move out of the country into Vietnam and India, according to a report from last week by Nikkei Asia.
The report cited a source who told the outlet that Google will be better-positioned to move production out of China than tech rival Apple because Pixel devices aren't sold directly in the Chinese market, while it's also a relatively small base of smartphone users.
Nikkei Asia previously reported in January that Google was planning to develop and manufacture Pixel 11 devices in Vietnam exclusively, with the process requiring investment in testing equipment as well as tooling machines. According to the latest report, the success of that process prompted Google to expand production for other Pixel devices in Vietnam.
Google also reportedly told suppliers that it intends to increase shipments of Pixel phones by 8% to 10% this year after the company shipped 12 million Pixel phones a year ago.
The production boost comes against the backdrop of Google's push to promote consumer usage of its Gemini artificial intelligence (AI) tools.
If Google proceeds with the move, it would follow Samsung in moving smartphone production out of China. Samsung's production shifted out of China in a process that took over a year and concluded in 2019 with most of its manufacturing moving to Vietnam and India.
The ongoing shortage of memory chips caused by the AI buildout of data centers and cloud services is affecting companies across the tech sector.
Google has reportedly looked to address that issue by combining orders for phone memory chips with those for its AI and cloud businesses.
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By doing so, the company is able to enhance its negotiating position with major suppliers of memory chips, potentially leading to improved terms for its memory chip purchases across its business lines.
FOX Business reached out to Google for comment.
https://www.foxbusiness.com/markets/google-plans-move-all-pixel-manufacturing-out-china-2027Homebuyers and renters around the country are facing a challenging landscape in terms of affordability, and a recent report identified seven markets where conditions make renting a significantly more affordable option than buying.
An analysis by Apartments.com identified the cities of Austin, Texas; Sacramento, California; Denver, Colorado; Portland, Oregon; Baltimore, Maryland; Salt Lake City, Utah; and Orlando, Florida, as metro areas where the average monthly rent is noticeably lower than the median monthly mortgage payment.
The two markets that top the list, Austin and Sacramento, shared the distinction of having average rents that are more than $1,000 lower than the median monthly mortgage payments.
Austin's median monthly mortgage payment is $2,475, while the average monthly rent was $1,421, leading to a difference of $1,054. In Sacramento, the median monthly mortgage payment is $2,621 compared to an average rent of $1,579 per month, giving renters a $1,042 edge in affordability.
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Dillar Schwartz, an eXp real estate agent based in Austin, told FOX Business in an interview that the housing market in central Texas remains very active for both homebuyers and renters.
"We have seen an uptick in rental leads and rental inquiries, and right now, they're across the board. They're relocating, they're wanting to try different subdivisions. They're moving here for work, and there's not one big industry that's moving people here," Schwartz said.
"In terms of buyers and sellers, I'm seeing more first-time homeowners come through. We're seeing a lot of the renters who inquired, and we helped find homes about two years ago, they're now working on getting into homeownership," she explained, noting that there's a "really nice mix of sellers" with listings across price points.
"There's a nice blend. However, I feel like this blend didn't happen until about four or five months ago – there were a lot of people just on the sidelines," she added.
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For prospective homebuyers and renters looking to move to the Austin area, Schwartz said one of the first questions her practice likes to address is the cash reserves the home shoppers have available given the costs.
"Right now, due to Texas insurance, property taxes and the rates being high, the cost right out the gate to get in a home without even discussing a down payment is fairly high, and that trickles into the monthly payments," Schwartz said.
She said that while prices in Austin have fallen, those costs are "really starting to shock buyers once they have that conversation with a lender," adding that while rental rates are also lower, they can face a financial hurdle in getting into an apartment.
Schwartz said that for an apartment renting at about $2,000 a month, the prospective renter would need to be able to cover not only that first month's rent but also a deposit of around $2,000, plus application fees and background checks that may run around $100 per person.
"When you add all of those costs, the average renter is going to need about $5,000 cash as well to make that move," she said, noting that can jam consumers in certain situations.
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Schwartz said in most of central Texas, which her practice covers, "we can find you a place that's a little bit more affordable to rent than to purchase right now."
The Austin real estate market has solid levels of housing inventory available for both would-be homebuyers and renters, with the region having taken steps to ease regulatory barriers to increasing the supply of housing in recent years.
Schwartz said the city recently added a new position to its permitting department that aims to expedite the process faced by homebuilders and people flipping homes, as well as allowing more infill development on lots to increase the number of homes.
"In Austin right now, if you truly do need to buy a home and want to invest in yourself and start building that wealth, all it takes is time and patience by working with a true professional – there are deals out there," Schwartz said.
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The same holds true for renting, she added, noting that demand remains strong and that renters are still going to need cash available to get into a property.
"The opportunity is there. The Austin market just takes a little bit more time and patience to navigate," she said.
https://www.foxbusiness.com/lifestyle/housing-affordability-gap-widens-seven-major-metro-areas-favor-renters-over-buyers-wide-margins
BLANTYRE, Malawi, August 25 (IPS) - When the Malawian government announced the conclusion of the repatriation of its citizens trapped in anti-immigrant violence against foreign Africans in South Africa on August 12, 2026, it had brought home 56,723 nationals, according to data from the Department of Disaster Management Affairs.
https://www.globalissues.org/news/2026/08/25/43885 {"url":"https://static.globalissues.org/ips/2026/08/Xeno-victims-2.png"}
GENEVA, August 24 (IPS) - In 2022, the United Nations Environment Assembly mandated an Intergovernmental Negotiating Committee (INC) to develop a global, legally binding instrument addressing the full life cycle of plastics, from production and product design to disposal. After the resumed fifth session adjourned without consensus in Geneva in August 2025, the divided process moved into informal consultations before INC-5.4 in March 2027.
https://www.globalissues.org/news/2026/08/24/43881 {"url":"https://static.globalissues.org/ips/2026/08/plastictrash-100x100.jpg"}The U.S. Treasury Department announced a new round of secondary sanctions Monday aimed at countries that continue to do business with Iran, a move by the Trump administration to exact "economic asphyxiation" on Tehran.
Treasury Secretary Scott Bessent announced the launch of Operation Economic Outcast, an effort to sever the financial lifeline that sustains Iran's regime, which the United States has accused of using illicit revenues to fund global terrorism.
"Iran now faces a very clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path back to normalcy with an opportunity to rejoin the global economy," Bessent said during a news conference.
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The aggressive strategy, labeled as an "Economic D-Day," targets critical industries such as Iran's digital assets, technology, gold, aviation and shipping in an effort to eliminate the revenue streams that fund international terrorism, Bessent said. The Trump administration will implement secondary sanctions to pressure nations into severing ties with Tehran, while simultaneously blacklisting nearly 60 people, businesses and vessels involved in illicit trade.
President Donald Trump was speaking with several world leaders, asking them for unspecified assistance in helping to tighten the economic rope around Iran, Bessent said.
"We are following his calls up with visits and calls from the State Department and from the U.S. Treasury, telling the leaders, the countries and the entities exactly what we expect and the timelines," he said. "I would expect that very quickly. If they do not respond, then you will see the ramifications of their actions."
The secondary sanctions will not be implemented right away, Bessent said, describing his announcement as a "warning shot" to nations thinking of doing business with Iran.
"We are giving everyone the opportunity to remedy bad behavior," he said. "Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure, period. But they should know that that will move very quickly and that we are serious."
"Treasury has mapped every node, every facilitator and every network that Iran has used to smuggle oil and evade sanctions. Beginning today, the actions of Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the IRGC and the evil Iranian regime," he added.
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Iran has faced U.S. sanctions for decades, which have been aimed at curtailing a range of sectors in Tehran's economy, including its oil revenues, as well as its ability to acquire weapons and other military equipment and cutting off funding for business enterprises controlled by the Islamic Revolutionary Guard Corps, Reuters previously reported.
In May, Bessent announced that the U.S. had seized roughly $1 billion in Iranian cryptocurrency assets.
Last week, Trump threatened "unprecedented" economic consequences for any nation assisting Iran, which he likened to an "economic D-Day."
"I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences," he wrote on Truth Social at the time.
"Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW," he continued. "You know who you are. This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat. These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide."
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Bessent warned nations doing business with Tehran, noting that no one is above the reach of U.S. sanctions.
"No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it," he said. "It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran. The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone."
https://www.foxbusiness.com/politics/bessent-announces-new-sanctions-countries-doing-business-iranSapporo USA reportedly plans to lay off 220 workers at three Stone Brewing locations in Escondido, California, as production of the craft beer brand shifts to facilities elsewhere in California and Missouri.
The layoffs will begin with 58 workers on Oct. 19, according to Worker Adjustment and Retraining Notification letters filed by Sapporo with the state.
FOX Business has reached out to Sapporo USA for comment and confirmation of the total number of employees expected to be affected.
The workforce cuts follow Sapporo's sale of the Stone Brewing brand and select hospitality locations to Firestone Walker Brewing Company and Duvel Moortgat USA. The transaction was announced in April and closed May 15.
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Under the deal, Stone beer production is transitioning from Escondido to Firestone Walker's brewery in Paso Robles, California, and Duvel USA's Boulevard brewery in Kansas City, Missouri.
The acquisition included Stone Brewing World Bistro & Gardens at Liberty Station in San Diego, along with taprooms in Little Italy, Oceanside and Pasadena. Stone's Escondido brewery and bistro were not included in the transaction.
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When the deal was announced, Sapporo said it would continue producing Stone beer at its Escondido and Richmond, Virginia, breweries during a transition period. It also said it would continue operating the Escondido bistro while evaluating "long-term strategic options" for the site.
Sapporo USA CEO Zach Keeling told the Los Angeles Times that the company is now winding down the Escondido brewery in phases after failing to find a "viable long-term solution" for the property.
"This is an understandably difficult time for our Escondido employees and community, and we're committed to supporting them through this transition," Keeling said in a statement reported by the newspaper.
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Firestone Walker and Duvel said in April that they expected to offer jobs to a significant number of Stone employees in hospitality, sales and marketing, while production roles would be evaluated as brewing shifted to the companies' other facilities.
Stone Brewing was founded in Southern California in 1996 and became one of the best-known brands associated with the West Coast craft beer movement. Sapporo acquired the brewer in 2022 before selling the Stone brand this year as it moves to concentrate its U.S. resources on its namesake beer.
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The Stone brand will continue under Firestone Walker and Duvel USA, while the Liberty Station location will remain both a hospitality venue and an active brewery, according to the companies' acquisition announcement.
https://www.foxbusiness.com/lifestyle/stone-brewing-escondido-layoffs-production-shift