UNITED NATIONS, September 18 (IPS) - When a child is diagnosed with cancer, their chances of survival should not depend on where they live, yet according to the WHO, more than 80 percent of children with cancer in high-income countries are cured, compared with fewer than 30 percent in many low- and middle-income countries (LMICs).
https://www.globalissues.org/news/2026/09/18/44080 {"url":"https://static.globalissues.org/ips/2026/09/WHO-team-visits_-100x100.jpg"}NAIROBI, Kenya, September 18 (IPS) - For the young women I met through Global Give Back Circle’s HER Lab in Kenya, displacement was not the end of ambition. It had interrupted school, separated families from stability, and narrowed the choices available to them. But it had not erased their hopes. What they wanted was not pity. They wanted skills, work, confidence and the chance to rebuild their lives with dignity.
Read the full story, “The Cost of Excluding Refugees”, on globalissues.org →
https://www.globalissues.org/news/2026/09/18/44079 {"url":"https://static.globalissues.org/ips/2026/09/Linda-Latsko-Lockhart-Mar-2024__-100x100.jpg"}California health officials are urging consumers not to eat recalled organic eggs after a salmonella outbreak sickened 23 people and hospitalized seven.
The California Department of Public Health (CDPH) announced last week that the outbreak had been linked to Happy Hens brand organic eggs produced at the company's Ramona, California, farm.
The company voluntarily recalled the eggs on Sept. 8.
"Consumers should throw away recalled eggs or return to (the) place of purchase for a refund. Consumers should contact their healthcare provider if they become sick with symptoms of Salmonella infection within 7 days of eating this product," CDPH said.
POPULAR SO DELICIOUS FROZEN DESSERT RECALLED OVER POSSIBLE STONE CONTAMINATION
As of Sept. 8, the outbreak had sickened 23 California residents, sending seven people to hospitals. No deaths have been reported.
"Because this outbreak is considered ongoing, additional recent illnesses linked to this outbreak may still be identified," CDPH said.
The recalled products include all grades and sizes of Happy Hens organic in-shell eggs with egg handler code CA-0677, as well as the following lot codes and sell-by dates:
FORD RECALLS MORE THAN 223,000 VEHICLES OVER FUEL TANK ISSUE
The eggs were sold in one-dozen and 18-count cartons, 20- and 30-count flats for consumers and 15-dozen food service cases.
The products were distributed to restaurants, grocery stores and farmers markets across Southern California and the Central Coast.
They were also sold directly at the company's Ramona farm, CDPH said.
According to CDPH, investigators identified Happy Hens eggs as the likely source of the outbreak following interviews with people who became ill.
CREAM CHEESE AND DELI SALADS RECALLED OVER POTENTIAL LISTERIA CONTAMINATION
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"Most people recover without medical treatment," CDPH said. "But for some people, the symptoms may be so severe that treatment or hospitalization is needed. Children younger than 5 years of age, adults 65 and older, and people with weakened immune systems are more likely than others to get very sick."
FOX Business reached out to Happy Hens for comment.
https://www.foxbusiness.com/lifestyle/eggs-recalled-salmonella-outbreak-sickens-23-peopleLet’s begin at the beginning. Low taxes, light regulation, abundant energy, and a strong dollar, are the keys to economic prosperity. And prosperity is as American as apple pie. And though nothing is ever perfect, at the moment I would argue, the American economy is in a prosperous position, roughly a year after Mr. Trump and the Republicans passed their One, Big, Beautiful Bill.
The Atlanta Fed just raised its GDPNow estimate for the third quarter that ends September 30, to 5.1 percent. Real growth. Core GDP last quarter, by which I mean real domestic private sales, increased by over 4 percent.
As the Fed chairman, Kevin Warsh, pointed out in the Open Market Committee statement, the rate rise passed unanimously by a 12-0 vote, domestic spending is resilient — indeed today’s retail sales up 6 percent year-on-year, they also pointed out productivity growth is strong, and capital investment is robust. Unemployment is low.
By the way, nonfinancial productivity — output per person — is rising over 3 percent annually for the past two years. And that is counterinflationary. Meanwhile, capital investment with 100 percent immediate expensing for machinery, equipment, some buildings, a big chunk of the data center — this is the seedcorn of the future economy rebuilding our infrastructure on the supplyside, and it can’t possibly be inflationary.
Rapid productivity is likewise counterinflationary. More people working, the same. The Census Bureau just showed real median household income reached an all-time high, Hispanic and black poverty hit an all-time low. Incomes for the bottom 25 percent reached their highest level ever.
So let me repeat an old supply-side saw, growth is not inflationary. Especially this kind of business-led growth. Manufacturing profits are soaring. Of course profits are the mothers milk of stocks and the lifeblood of the economy. And that can’t possibly be inflationary.
Now it is true that Mr. Warsh has inherited the 21 percent cumulative inflation rate from President Biden and the former Fed chairman, Jay Powell. That, and a temporary oil shock for Mr. Trump’s war against Iran to prevent them from ever getting nuclear weapons. A noble mission. So as Mr. Warsh said today, the inflation rate is still too high. And he is concerned that the underlying trend is not improving to his satisfaction.
He said: "The plain fact is that inflation is too high and has been for too long. This summer’s inflation readings do not tell me that underlying trends have meaningfully improved." He added that, "based on the most recent" consumer price index and producer price index data, "the 12 month change in total" Personal Consumption Expenditures index "prices likely was around 3.6 percent in August." Mr. Warsh added that core PCE and CPI are "running at about 3.2 percent and 2.4 percent, respectively. Too many categories are still posting increases above 3 percent on both a six and 12 month basis."
So the Fed raised its Fed funds target range by a quarter of a percentage point, to the range of 3-3/4 percent to 4 percent. To some extent, we are seeing real interest rates normalizing to accommodate stronger economic growth.
If Mr. Warsh is going to liquidate some excess balance sheet reserves, in order to strengthen the value of the dollar, that’s ok. Let’s not throw the baby out with the bathwater. Regime change at the Warsh Fed should specify that growth does not cause inflation.
https://www.foxbusiness.com/politics/larry-kudlow-prosperity-american-apple-pie
KUNMING, China, September 17 (IPS) - The world may have enough money to protect nature. The bigger problem, according to the head of the UN Convention on Biological Diversity (CBD), is that too much of it is still being spent on activities that destroy it.
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TORONTO / LONDON, September 17 (IPS) - Chung Sun-cha started collecting cardboard, plastic, and other recycling materials off the streets of Incheon, South Korea, to sell when she was in her mid-70s. She is now 87. Without an adequate pension, Chung worked six days a week, sometimes seven, in the wind, rain, and snow until she fell and broke her arm while working in 2025. “I couldn’t find any other work because of my age,” she said.
https://www.globalissues.org/news/2026/09/17/44069 {"url":"https://static.globalissues.org/ips/2026/09/genderedageism-100x100.jpg"}New York Knicks superstar Jalen Brunson, along with his family, announced on Tuesday the launch of Thirty Third Management Group, a family-owned brand advisory firm that will manage his off-court business as well as represent clients across pro sports, business and philanthropy.
It’s been quite the year for Brunson, as he was the leader of a Knicks team that broke a 53-year NBA title drought, and he won NBA Finals MVP in the process. The "King of New York" moniker has followed him ever since, with the Knicks faithful forever indebted to him and his teammates for the pure joy they brought the city.
But if Brunson wasn’t a star already on the hardwood, winning the NBA title in New York vaulted him into a different stratosphere, and business opportunities and more were sure to follow.
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Now, with his own firm and his family’s back, Brunson is not only helping himself but looking forward to doing the same for others with their business development, charitable work and more.
"My family has been with me every step of the way, and everything we do is rooted in trust," he said in a statement. "Thirty Third gives us the chance to take ownership of my off-court business, to build something that reflects who we are, and to do it together."
KNICKS STAR JALEN BRUNSON IS A MAN OF THE PEOPLE, REVEALS THE ONE THING HE CAN'T LIVE WITHOUT
The firm’s name comes from the beginning of Brunson’s career, where the Dallas Mavericks selected him 33rd overall out of Villanova in the 2018 NBA Draft. He has since built a reputation defined as much by his character and leadership as by what he has accomplished on the court.
Sandra Brunson, Jalen’s mother, who has been managing his off-court business for eight years, will serve as Thirty Third Management Group president. Erica Brunson, his sister, will serve as director of client services, while Connor Cashaw, a friend and former high school teammate at Stevenson High School in Illinois, will be the director of business development. Both Erica and Connor have been a part of Jalen’s team since 2024 and 2025, respectively.
This firm was born from a belief that the most powerful brands are built on trust, purpose, and genuine human connection," Erica Brunson said in a statement. "As a family, we’ve had the privilege of supporting Jalen’s growth beyond basketball, and that experience inspired us to create an advisory platform that helps others do the same.
"We are committed to helping our clients maximize opportunities, whether in professional sports, business, or philanthropy, and want to be a strategic partner that champions both success and significance."
So, while Brunson will serve as the firm’s foundational client, Thirty Third Management Group was built with the wider goal of advising athletes, NIL talent, executives, entrepreneurs and charitable foundations on brand development, partnership strategy, business development and more.
Also, a priority of the firm from the outset will be in women’s sports, a category the firm’s leadership views as "historically underserved," with Erica leading that effort.
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Meister Seelig & Schuster PLLC, led by Mitch Schuster and Jed Ferdinand, will serve as legal counsel for the firm, while Focus Financial Partners serves as financial advisors for Brunson, his family and Thirty Third Management Group.
https://www.foxbusiness.com/sports/jalen-brunson-family-launch-thirty-third-management-group-manage-off-court-business-advise-athletesThe Federal Reserve on Wednesday raised its benchmark interest rate for the first time in over three years amid concerns over stubborn inflation that has been driven recently by higher energy prices.
Fed policymakers voted 12-0 to raise the federal funds rate from a range of 3.5% to 3.75% to a new target rate of 3.75% to 4%. The 25-basis-point increase marks the first interest rate hike since July 2023 and comes after the Fed left rates unchanged at its first five meetings this year.
The Federal Open Market Committee (FOMC), the central bank's panel responsible for monetary policy moves, noted that "Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust.
"Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2% goal."
STUBBORN INFLATION SETS STAGE FOR FEDERAL RESERVE TO HIKE INTEREST RATES
The FOMC's rate hike announcement was accompanied by a summary of economic projections made by policymakers. The median member of the panel projected one more 25-basis-point rate hike this year on the so-called "dot plot" as the FOMC is set to meet again in October and December, when further moves could occur. The median projection also expects the federal funds rate to remain around that level next year.
Fed Chair Kevin Warsh said the FOMC raised interest rates in support of its dual mandate to ensure price stability and promote full employment in the economy, saying that the panel "will deliver price stability."
"Our decision comes at a time when the American economy appears to be strengthening," Warsh said, noting labor market data, private sector earnings and capital investment as indicators of that strength. "I would be hard-pressed to describe broad financial conditions as restrictive."
The Fed chair noted that the unemployment rate remains low at around 4.1%, with job openings and weekly hours rising, so the "labor side of the Fed's congressional remit is in good shape."
"Yet for more than five years, inflation has been running above target. So our predominant focus is on the price stability side of our mandate. The plain fact is that inflation is too high and has been for too long. This summer's inflation readings do not tell me that underlying trends have meaningfully improved," he said.
WHAT WARSH'S JACKSON HOLE SPEECH SIGNALS ABOUT WHERE INTEREST RATES ARE HEADED
Warsh noted that the likely change in the personal consumption expenditures (PCE) index — the Fed's preferred inflation gauge — was likely around 3.6% in August, well above the 2% target, while core PCE and core consumer price index (CPI) data are running at about 3.2% and 2.4%, respectively.
"We at the Fed are unwavering in our vital and straightforward purpose, full employment and price stability, and a thriving American economy that sets the standard for the world," Warsh said.
FOX Business' Edward Lawrence asked Warsh if this was a market-led rate hike, given the odds of a rate hike were about 90% in the market's view. The Fed chair replied that "sometimes the market tries to prejudge our outcomes, I'll observe market prices and see what they have to say, but today was our decision."
Warsh was asked about what prompted the central bank to move after holding steady at its previous meeting seven weeks ago and pointed to three things.
He said improvements in the labor market led to the judgment that the economy is strengthening, adding that he hasn't seen improvement in trends related to inflation and that geopolitical developments factored in, saying that "there's no hiding from hot spots around the world."
TREASURY TO BUY BACK UP TO $6B IN LONGER-TERM DEBT AS BOND YIELDS HIT HIGHEST LEVEL SINCE 2023
The issue of higher yields on longer-term U.S. Treasurys in recent weeks came up during the news conference with the 10-year Treasury note yield around 5%, the highest since 2023.
"I would say these things tend to be overdetermined," Warsh said. "This is a complicated set of things that are affecting the most important asset anywhere in the world, the 10-year Treasury. It's the risk-free asset upon which every price of virtually every asset in the world is related to. So, I'll say three things.
"The first is economic strength. I think part of the reason why we've seen, over the course of 2026, long-term yields go up, is the economy has strengthened. Second reason: competition for capital. The surge in capital expenditures, which I referenced in my remarks, is real, and the so-called hyperscalers are out in the market raising funding. And, so, the competition for capital is real, and I think it partly explains the increase in yields.
"The third is geopolitics. The situation in hot spots around the world are driving long-term yields. It's not simply spot prices of energy, or spot prices for corn or soybeans or what, but it's the differences between those spot prices and so-called crack spreads. What that means for products that find their way into stores across the country," he said. "I think those are the three leading explanations, but certainly not an exclusive list."
CONSUMER PRICES REMAINED ELEVATED IN AUGUST AHEAD OF FED'S NEXT MEETING
Kay Haigh, global head and CIO of fixed income and liquidity solutions at Goldman Sachs Asset Management, said the "Fed has signaled it does not at this stage envisage an aggressive tightening cycle."
"Most FOMC members see a total of two hikes this year, per the SEP, and it will likely skip October's meeting given its proximity to the midterm elections. One more hike this year in December is our base case, although this remains contingent on upcoming CPI reports and the path of energy prices," Haigh added.
Seema Shah, chief global strategist at Principal Asset Management, said the "Fed has finally begun its hiking cycle, and the debate now shifts from whether rates will rise again to how many hikes lie ahead."
"The unanimous vote shows that rising energy prices and stubborn inflation have brought even the doves on board, making a one-and-done move highly unlikely. With markets already pricing multiple increases, policymakers will probably need to deliver at least one more hike to safeguard credibility," Shah added.
The FOMC is scheduled to hold its next interest rate meeting Oct. 27-28. The CME FedWatch tool shows a 49% chance of the Fed holding rates at the new target range of 3.75% to 4%, and a 51% probability of a 25-basis-point hike.
Its subsequent meeting will be on Dec. 8-9, when the tool shows a 49.5% chance that the federal funds rate will be 25 basis points higher and a 38.2% probability of a second 25 basis point hike to a range of 4.25% to 4.5%. It also reflects a 12.3% chance of the Fed leaving rates unchanged for the next two meetings.
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Stocks sank following the Fed's rate hike announcement.
The benchmark S&P 500 Index was down about 0.5%, while the Dow Jones Industrial Average was down 1.3% in late afternoon trading. The Nasdaq Composite was little changed but down slightly with a decline of 0.08%.
https://www.foxbusiness.com/economy/federal-reserve-interest-rate-decision-september-16-2026CIVICUS discusses renewed conflict and a growing crackdown on independent media in Ethiopia with Yonas Kedir, Editor-in-Chief of the independent news outlet Addis Standard, who was recently abducted and detained by government forces.
https://www.globalissues.org/news/2026/09/17/44067 {"url":"https://static.globalissues.org/ips/2026/09/Yonas-Kedir-100x100.jpg"}DHAKA, Bangladesh, September 17 (IPS) - Bangladesh is rightly praised for saving lives during cyclones and floods. Early warning systems, cyclone shelters and community mobilisation have turned once-catastrophic disasters into emergencies in which evacuation is often possible. But behind that success lies a quieter national failure: millions of people are being uprooted inside the country, often more than once, without a clear path back to secure homes, land or livelihoods.
https://www.globalissues.org/news/2026/09/17/44066 {"url":"https://static.globalissues.org/ips/2026/08/Dr-Mohammad-Zaman-100x100.jpg"}Continental Resources on Wednesday announced that it reached an agreement with Venezuela's state-owned oil company to develop oil in the South American country's prolific Orinoco Belt.
The memorandum of understanding with Petroleos de Venezuela S.A. (PDVSA) will see Continental Resources operate and develop the Ayacucho 2 Block in the Orinoco Belt, which is the main oil field in the country. The announcement indicated that the two parties plan to enter into a long-term production agreement in the coming weeks.
The Ayacucho 2 Block is located north of the Orinoco River in the Venezuelan state of Anzoategui and covers about 126,000 acres, with an estimated 30 billion barrels of oil in the tract. Once the long-term production agreement is executed, Continental will operate the block with a 100% interest, according to the release.
OIL GIANT CHEVRON STRIKES AGREEMENT TO EXPAND VENEZUELA OPERATIONS
Continental Resources said in its announcement that "Ayacucho 2 represents one of the most significant resource opportunities in Continental's nearly 60-year history," expanding its long-term development inventory and an expansion of its international presence in a portfolio anchored by its U.S. base.
The company said in its announcement that the Trump administration's call for American energy companies to help rebuild the Venezuelan oil industry led it to perform an independent evaluation of opportunities in the country. That evaluation, along with changes made by Venezuela's government to its legal framework for hydrocarbons, opened the door for Continental to pursue the opportunity.
TRUMP ANNOUNCES 'BIGGEST OIL DEAL IN WORLD HISTORY,' SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICES
"We are excited to participate in the revitalization of Venezuela's energy industry, bringing further economic strength to Venezuela and its people as well as global energy markets. Ayacucho 2 is an extraordinary addition to our portfolio and will contribute significantly to Continental's growth trajectory," said Continental Resources CEO Doug Lawler.
"Continental was built to recognize great resource opportunities and have the conviction to pursue them," said Harold Hamm, founder and chairman emeritus of Continental Resources. "What this company is doing today builds on that foundation while taking Continental to an entirely new level. I could not be more proud of the company, our people and the future we are building."
Continental said the memorandum of understanding allows it to bring private capital, technology, technical expertise and large-scale operating capabilities to the effort to redevelop Venezuela's oil industry. It added that it plans to evaluate additional opportunities in the country, as well as those in the U.S. and around the world.
An analysis by the U.S. Energy Information Administration (EIA) that was last updated in February 2024 noted Venezuela had the world's largest proven crude oil reserves in 2023, with about 303 billion barrels, which represented 17% of global reserves.
VENEZUELA SAYS TRUMP'S HISTORIC OIL DEAL TARGETS 1.5M BARRELS PER DAY, COULD GENERATE $200B
Despite having a significant share of the world's oil reserves, Venezuela only produced 0.8% of global crude oil output in 2023, and the total output of 742,000 barrels per day represented a 70% cumulative decline from the country's production levels in 2013.
Most of Venezuela's reserves are extra-heavy crude oil from the Orinoco Belt, and the EIA noted that the "extraction of extra-heavy crude oil requires a higher level of technical expertise, which international oil companies possess but their involvement has been limited by international sanctions."
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"Furthermore, budgetary constraints at Venezuela's state oil company PDVSA and a lack of qualified technical personnel and foreign direct investment have all hampered Venezuela's oil and natural gas development," EIA added.
https://www.foxbusiness.com/markets/continental-resources-strikes-venezuela-oil-development-dealEuropean Commission President Ursula von der Leyen on Wednesday proposed opening the door for Canada to become the European Union's first "associate member," a significant step that could bring Ottawa substantially closer to the bloc as its trade dispute with the U.S. shows no signs of abating.
Speaking in Strasbourg during her annual State of the European Union address, von der Leyen addressed Canadian Prime Minister Mark Carney, who was in the chamber, and called for a major expansion of economic, technological and security cooperation between Canada and the EU.
"I would like to work with you on opening the door for Canada to be the first associate member of the EU," von der Leyen said, drawing a standing ovation from EU lawmakers before walking over to embrace Carney.
BILLIONAIRE WARNS ‘EVIL EMPIRE’ WANTS TO ‘CRIPPLE TRUMP,' CALLS OUT AMERICA'S NORTHERN NEIGHBOR
Von der Leyen said the two sides would move from their existing CETA trade agreement toward what she called an "Alliance for the Future," aimed at creating a common prosperity and economic security space.
The proposed partnership would deepen cooperation for advanced manufacturing, defense production, energy, critical minerals, artificial intelligence, quantum technology, cybersecurity and the Arctic.
"We see the world with the same eyes," von der Leyen said, citing shared positions on issues ranging from Ukraine and defense to supply chains and climate change.
"But above all ... Europe and Canada believe in democracy," she said. "This is a partnership not against anyone else, but for our common strength."
The proposal comes as Canada seeks to diversify its trade away from its heavy reliance on the United States.
Carney has pledged to double Canada's non-U.S. trade over the next decade following a breakdown in Canada-U.S. trade talks last month that triggered a series of tit-for-tat tariff measures.
Earlier this week, Carney — who is scheduled to address the European Parliament on Thursday — said Canada was seeking a "unique alliance" with the EU, but not membership.
He said more detailed discussions are expected to begin at the Canada-EU summit in Montreal in late October.
But the proposal still faces significant legal and political questions. The EU has historically resisted flexible alliances without a defined legal status.
Speaking to Reuters on the matter, one EU diplomat expressed surprise at von der Leyen's announcement, saying the proposal was too vague and warned that the Commission president was "overpromising and won't be able to deliver."
Deeper economic integration could also face longstanding trade obstacles. Mark Manger, a professor of political economy and global affairs at the University of Toronto, told Reuters that EU officials have been frustrated by Canada's protection of its telecommunications and dairy sectors — issues that could complicate efforts to further deepen economic ties.
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It will ultimately be up to EU member states whether the proposal moves forward.
Reuters contributed to this report.
https://www.foxbusiness.com/economy/eu-opens-door-unprecedented-associate-member-status-canada-us-trade-spat
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.
https://www.globalissues.org/news/2026/09/16/44057 {"url":"https://static.globalissues.org/ips/2026/09/Rwandan-President-Paul-Kagame-speaking-to-the-youths-during-the-Africa-Food-Systems-Forum-at-Kigali-Convention-Centre.-Credit-Farai-Shawn-Matiashe-100x100.jpeg"}
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.
https://www.globalissues.org/news/2026/09/16/44059 {"url":"https://static.globalissues.org/ips/2026/09/DEFENDERS-1-100x100.jpg"}
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.
https://www.globalissues.org/news/2026/08/26/43894 {"url":"https://static.globalissues.org/ips/2026/08/Photos-highlighting_1-100x100.jpg"}
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 →
https://www.globalissues.org/news/2026/08/26/43893 {"url":"https://static.globalissues.org/ips/2026/08/Results-of-the-vote_-100x100.jpg"}
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."
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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.
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"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."
US NATIONAL DEBT HITS $40 TRILLION MILESTONE FOR FIRST TIME EVER
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.
CALIFORNIA PIZZA KITCHEN CO-FOUNDER OPENS UP ABOUT FAMOUS CHAIN'S WILD RISE, BANKRUPTCY AND COMEBACK
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.
PIZZA HUT MAKES SURPRISING CHANGE TO ICONIC NAME AHEAD OF NFL SEASON
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-hospital