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Updated: 2 hours 46 min ago

US food importer sues Trump administration over 50% tariffs on Canadian goods

6 hours 57 min ago

A family-run American food importer sued the Trump administration on Tuesday over its 50% tariffs on certain Canadian goods, arguing that the duties are unlawful and which the company estimates could cost it roughly $40 million annually on Canadian cheese imports alone.

Gellert Global Group, a New Jersey-based food importer, filed the lawsuit in the U.S. Court of International Trade with representation from the Liberty Justice Center, the latest legal challenge targeting the Trump administration's tariff policy.

The lawsuit comes after President Donald Trump invoked Section 338 of the Tariff Act of 1930 over the summer to impose 50% tariffs on certain Canadian imports. The administration expanded the list of covered products in September to include cheeses imported by Gellert.

The Liberty Justice Center is asking the court to declare the tariffs unlawful, block their collection and order refunds with interest.

TRUMP'S CANADA TRADE WAR IS ENTERING A DANGEROUS NEW PHASE FOR THESE BATTLEGROUND STATES

The group argues that the Trump administration is using the Tariff Act of 1930 beyond its intended purpose and imposing tariffs on products unrelated to the Canadian policies it sought to challenge.

"This case is not about the president. It is about the presidency. No president should have the power to pull a dormant statute off the shelf and use it to impose sweeping tariffs or import bans without the limits Congress required," Sara Albrecht, chairman and CEO of the Liberty Justice Center, said in a statement.

According to the complaint, Gellert previously imported Canadian cheese without paying duties under the U.S.-Mexico-Canada Agreement (USMCA), but now faces a 50% tariff.

On Sept. 28, the company imported a shipment of goat's milk cheese valued at roughly $120,000 and paid more than $60,000 in tariffs, according to the complaint.

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The Trump administration said it imposed the tariffs in response to what officials described as discriminatory Canadian trade practices affecting American businesses.

The lawsuit argues that the tariffs do not offset the alleged discrimination because they apply to products unrelated to the Canadian policies being challenged.

Thomas Gellert, co-CEO of Gellert Global Group, said the tariffs are disrupting business relationships developed over generations.

"These tariffs disrupt those relationships overnight and create costs and uncertainty that ripple through the entire supply chain," Gellert said.

The lawsuit is the Liberty Justice Center's fourth challenge to the administration's tariff policies under different statutory authorities, following cases involving IEEPA and Sections 122 and 301 of federal trade law.

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In February, the Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) did not authorize the president to impose the tariffs challenged in that case, but the administration has continued to impose levies under other trade laws.

A federal trade court also ruled against replacement tariffs imposed under Section 122, a decision the administration appealed, while another challenge involving Section 301 remains pending.

The Liberty Justice Center previously challenged the administration's IEEPA tariffs and is also challenging tariffs imposed under Sections 122 and 301.

The latest legal challenge comes amid an ongoing trade dispute between Washington and Ottawa.

Canadian Prime Minister Mark Carney suspended trade negotiations in August, accusing the U.S. of making unfair last-minute changes to a potential agreement.

The Office of the U.S. Trade Representative disputed that account, saying Canada declined to finalize previously agreed-upon terms.

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Canada has since imposed retaliatory tariffs on certain U.S. products.

FOX Business has reached out to the White House for comment.

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Elon Musk says Tesla-SpaceX merger would be 'a good idea' as companies form special committees

10 hours 49 min ago

Elon Musk said Tuesday that merging his two companies, Tesla and SpaceX, would be "a good idea," revealing that both companies have formed special committees of independent directors to explore a potential deal.

Musk, who leads both companies, has previously entertained the idea of combining the businesses, pointing to growing overlap between them.

Following SpaceX's quarterly earnings report and Musk's comments during a conference call with investors Tuesday, shares of SpaceX jumped as much as 8% in extended trading.

"I think it would be a good idea, but it's really up to the special committees of both companies," Musk said. "Because I'm a conflicted party, I can't actually be in the discussions of the special committees."

ELON MUSK PLEDGES TO GIVE EVERY CHILD IN AMERICA A SPACEX SHARE NEXT YEAR

Musk said the companies formed the special committees at the request of shareholders, who would ultimately need to approve any merger.

"I do think there's a lot of merit to combining the companies as we are pretty much in the superintelligence singularity, and there's a lot to be gained from cooperating on developing superintelligence software, chip design, the Terafab obviously, robotics, mass-to-orbit with the Starmind constellation, connectivity," Musk said.

Speculation about a potential combination, including the possibility of SpaceX acquiring Tesla, has intensified, with Barclays suggesting last week that a deal could be announced as early as December, according to Reuters.

Musk cautioned that it was too soon to know whether the merger would ultimately happen.

FERRARI CEO RATES TESLA ROADSTER LAUNCH '10 OUT OF 10,' THANKS ELON MUSK FOR DARING TO INNOVATE

The potential merger comes as SpaceX reported its first profit as a publicly traded company earlier Tuesday.

According to Musk, the company expects annual recurring revenue of $500 billion to $1 trillion by the end of 2027.

Musk owns a significant stake in SpaceX while retaining substantial voting control over the company.

Earlier this week, Musk pledged to give every child in America one share of SpaceX next year and suggested the planned giveaway could be the first of several.

Tesla has also drawn attention recently, unveiling its long-anticipated Roadster last week during a showcase in which the vehicle used compressed-air thrusters to launch off a ramp and perform a midair maneuver.

Reuters contributed to this report.

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Ferrari CEO rates Tesla Roadster launch '10 out of 10,' thanks Elon Musk for daring to innovate

15 hours 13 min ago

Ferrari CEO Benedetto Vigna on Tuesday offered praise for Tesla's redesigned Roadster sports car, saying that the next-generation vehicle showed that the auto industry has capacity for daring innovation even in a more mature market.

Tesla marked the launch of the Roadster last week with a demonstration that included stunts and airborne maneuvers using thrusters the EV company developed with SpaceX. Tesla CEO Elon Musk, who also leads SpaceX, said production of the Roadster would start in 2028.

Vigna was interviewed at an auto conference organized by Italian magazine Quattroruote and said the Tesla Roadster launch was a 10 out of 10 for technology and 10 out of 10 for presentation.

"It certainly shows that also in the automotive world there's still a lot to be done. We have to keep dreaming," Vigna said. "As a European, thank you for showing us how that, even in an old world, you can still innovate and dare."

TESLA'S NEW ROADSTER MAKES A FLYING DEBUT, HITTING 60 MPH IN UNDER A SECOND

Tesla's Roadster was seen flying, performing a midair flip and accelerating from zero to 60 mph in under a second during the presentation, which was held at a SpaceX test site in McGregor, Texas.

Tesla shares initially rose following the unveiling of the Roadster, though financial analysts cautioned that deliveries are still off into the future after the model had faced years of delays.

A Roadster prototype was first revealed in 2017, at which time the company said deliveries would begin in 2020.

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The Musk-led automaker is allowing interested customers to reserve variants of the Roadster, with a $50,000 payment for the "Performance" version and a $250,000 payment for the "Thrust" version that includes "acceleration thrusters." An invite-only "Rocket" variant is a single-seat model with a "full flight system."

Ferrari unveiled the Luce, its first fully electric vehicle, in May and has been trying to win over skeptics after shares fell following the announcement.

FERRARI REVEALS FIRST FULLY ELECTRIC CAR WITH EYE-POPPING PRICE TAG

The Luce was developed in a collaboration with former Apple design chief Jony Ive and the team from his LoveFrom studio.

Vigna said that risk-taking is necessary, and that outside influence was vital to Ferrari's development of Luce.

"If we had worked on our own, we wouldn't have done what we did. In other words, we tackled a whole series of questions and came up with some answers prompted by people who were observing us from the outside," Vigna said.

Reuters contributed to this report.

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EXCLUSIVE: Social Security begins sending new $1,000 Trump Account notices to parents of newborns

15 hours 43 min ago

EXCLUSIVE: The Social Security Administration (SSA) has begun including instructions for claiming a $1,000 government investment contribution with Social Security cards issued to newborns, expanding a nationwide effort to inform American families about President Donald Trump's children's investment accounts, Fox News Digital has learned.

The new inserts, distributed through the agency's Enumeration at Birth program, explain how parents can sign up for Trump Accounts and claim a one-time $1,000 contribution from the U.S. Treasury Department for eligible children born between Jan. 1, 2025, and Dec. 31, 2028.

More than 3.5 million children are born in the United States annually, and the SSA assigns approximately 99% of infant Social Security numbers through its Enumeration at Birth program, SSA press officer Barton Mackey told Fox News Digital.

PRESIDENT CELEBRATES AUTOMATIC ENROLLMENT OF 70 MILLION TRUMP ACCOUNTS FOR CHILDREN

The SSA confirmed that parents receiving newborn Social Security cards through the program will also receive the Trump Account inserts, placing information about the investment initiative directly into the hands of families during one of their first interactions with the federal government after a child's birth.

The government-issued insert congratulates parents and explains that eligible children may receive a $1,000 contribution to a Trump Account from the Treasury Department.

According to the notice, parents are instructed to visit TrumpAccounts.gov, download the Trump Accounts app and sign up.

Families will then receive communication from Treasury about activating the account and receiving the government contribution.

'THE VIEW' CO-HOST SUNNY HOSTIN PRAISES TRUMP FOR 'GOOD POLICIES' ON FERTILITY CARE AND CHILD SAVINGS ACCOUNTS

The account is established in the child's name, with a parent or other custodian managing it until the child turns 18.

The notice says families are not required to make additional contributions, but may deposit up to $5,000 annually, subject to the program's rules.

The one-time $1,000 Treasury contribution is available to qualifying children born between Jan. 1, 2025, and Dec. 31, 2028, who are U.S. citizens with valid Social Security numbers, according to SSA's published guidance.

The contribution is intended to provide an initial investment for eligible children rather than an immediate cash payment to their parents.

MICRON'S $250 MILLION BET ON KIDS IS A BLUEPRINT FOR AMERICA'S FUTURE

Trump Accounts are tax-advantaged investment accounts for eligible children under 18, designed to support long-term savings and investment.

The SSA's involvement centers on helping families enroll and distributing information through the existing newborn Social Security card process.

Through Enumeration at Birth, parents can request a Social Security number for their child during the birth-registration process at a hospital, birthing center or through a licensed midwife.

The program allows participating families to obtain their child's Social Security number without separately applying at a Social Security office.

The new inserts build on an initiative SSA announced in July to help parents enroll newborns in Trump Accounts, including plans to update hospital guidance and newborn Social Security card mailings.

By including Trump Account information with those cards, the agency is bringing the investment program directly to families through an established government process.

The Treasury Department oversees the federal contribution, while SSA handles the Social Security number process and related enrollment assistance.

Trump has also suggested that the investment account concept could eventually extend beyond children.

Asked by FOX Business Network correspondent Edward Lawrence Tuesday whether Americans could one day see Trump Accounts for adults, the president indicated that a separate approach was being considered.

"We are looking at something different because it really is somewhat of a different thing, having to do with adults. Yes," Trump said.

Trump also said the initiative had "close to 80 million recipients," adding that the number was "going up rapidly" as companies and wealthy individuals became involved.

Fox News Digital has reached out to the White House for further comment on the proposal.

Parents seeking additional information about Trump Accounts, eligibility and enrollment can visit TrumpAccounts.gov.

The Treasury Department did not immediately respond to FOX Business' request for comment.

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LARRY KUDLOW: Keep your backbone, traditional Republicans, this is no time to go wobbly

15 hours 44 min ago

Pollster friends of mine are telling me Republicans are going to lose the House and maybe the Senate, because not enough traditional Republicans are going to come out and vote. In other words, Mr. Trump has always had the support of MAGA Republicans, but the mistake at the Dallas Convention was not wooing so-called traditional GOPers.

Well, I’m not sure what a traditional Republican is. Or why any Republican, or for that matter any sane person would want to vote in a bunch of Democratic party big government socialists. They will reopen the borders, end fossil fuels, and impose Medicare for All — which means you lose your private healthcare, and will wind up paying for free healthcare for illegal immigrants. 

Democratic wins would promote lawfare and weaponization, such as Senator Elissa Slotkin has proposed, risk more crime, or $10 gasoline, or ending gasoline-powered cars altogether. Or going back to woke, DEI, and antisemitism. Is that what so-called traditional Republicans want? Is that what any sane person would want?

I worked for President Reagan, who was a supply-sider, tax cutter, a deregulator, who ran against the swamp at D.C. And then decades later I worked for President Trump, who was a tax cutter, deregulator, and was against the swamp at D.C. Does that make me a traditional Republican? A Reagan Republican? A Trump Republican?

How about: I’m a free enterprise pro-growth conservative who believes in traditional American values. This election strikes me as too important to hinge on semantics.

What we really want, apart from these unhelpful labels, is the kind of Newt Gingrich optimism. As he is writing about America’s golden age: the triumph of free enterprise, the coming era of limitless possibilities, and how economic growth will surge while inflation falls, and advanced technology prevails.

I was there outside Atlanta when Mr. Gingrich won back in 1994. Maybe we’re all Gingrich Republicans right now. The point I want to make to you folks, in my next 11 Kudlow TV broadcasts, and two Sunday morning shows, I want to persuade you to vote for free enterprise, not socialism. For patriotic values, not American hatred. And for defending our country against any and all encroachments from the outside. It’s never too late to turn this story around. There’s still time.

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JPMorgan invests $5B in companies critical to US national security

Tue, 10/20/2026 - 23:59

JPMorgan Chase announced on Monday that it has invested $5 billion in companies that underpin U.S. national security through the firm's Security and Resiliency Initiative (SRI).

The bank launched the $1.5 trillion SRI last year under its Strategic Investment Group and said that it has financed and facilitated over $230 billion to boost industries, supply chains and technologies that play a critical role in long-term national security and economic resilience.

"Strong economies and national security don't happen by accident. They require investment in critical infrastructure, manufacturing, energy, defense and innovation, as well as policies that encourage growth," said JPMorgan Chase CEO Jamie Dimon.

"Through SRI, we're bringing together capital, expertise and convening power to help strengthen the industries, supply chains and workforce that support economic prosperity and national security," Dimon added.

JAMIE DIMON WARNS OF 5 ECONOMIC THREATS LURKING 'UNDER THE SURFACE'

JPMorgan's Strategic Investment Group invests the firm's capital in companies with long-term strategic importance, including in the form of direct equity investments in the SRI.

The group committed $5 billion of the initial $10 billion SRI equity allocation in its first year, with funds invested in venture, growth and later-stage companies to spur growth, innovation and expansions of manufacturing capacity.

The firm's announcement noted that recent investments have supported next-generation defense technologies, distributed battery storage, automated manufacturing and frontier technologies.

JAMIE DIMON, DAVID SOLOMON, OTHER TOP EXECS PRAISE TRUMP ADMIN'S PRO-BUSINESS POLICIES

"Our approach is to find generational companies and partner with them for the long term," said Todd Combs, head of the Strategic Investment Group at JPMorgan Chase.

"The Security and Resiliency Initiative is an important part of that work. Putting $5 billion to work in our first year shows how many exceptional businesses are building in industries that strengthen critical supply chains and the solutions our economy and security depend on," Combs added.

The SRI has also facilitated over $230 billion in transactions in its five focus areas over the past year.

US ARMY PLANS NUCLEAR MICROREACTORS AT 5 MILITARY BASES AS PART OF $2.2B ENERGY SECURITY PUSH

Those transactions have supported defense technology companies and manufacturers as they scale; financed suppliers critical to the defense industrial base; facilitated investment in next-generation nuclear and geothermal energy; expanded domestic critical minerals and metals capacity; advanced AI, cybersecurity and quantum computing; and strengthened critical medicine production and supply chains.

JPMorgan Chase said that with the SRI entering its second year, the firm will look to convert value-chain insights into action by supporting companies that can expand critical capacity, developing structures that make strategic projects financeable, bolstering supplier and workforce ecosystems, and expanding cross-border policy coordination.

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GLP-1 injections recalled nationwide over sterility concerns

Tue, 10/20/2026 - 23:57

Apothecary Pharma is recalling 23 vials of injectable drugs distributed nationwide because their sterility cannot be assured, according to the Food and Drug Administration.

The voluntary recall includes 22 vials of compounded tirzepatide, a GLP-1 medication containing the same active ingredient as Eli Lilly's Mounjaro and Zepbound, and one vial of NAD+ injection. The FDA classified the recall as Class II on Oct. 8, indicating that serious health consequences are considered unlikely.

The recall follows a December 2025 FDA warning letter to Apothecary Pharma that cited serious deficiencies in the North Carolina company's sterile drug production practices. 

HOW GLP-1 WEIGHT-LOSS DRUGS ARE RESHAPING THE HEALTHCARE INDUSTRY

The agency said the problems put patients at risk, though it has not established a connection between those findings and the current recall.

The affected tirzepatide product is an 18 mg/mL prescription injection in a 4 mL multidose vial, with NDC number 85091-001-18. Recalled lots are AP-202622 through AP-202625 and AP-202627 through AP-202644, with beyond-use dates from Oct. 7 through Nov. 26, 2026.

The recalled NAD+ injection is a 200 mg/mL prescription product in a 6 mL multidose vial, NDC 85091-011-06. The affected lot is AP-202647, with a beyond-use date of Oct. 13, 2026.

Apothecary Pharma initiated the recall Sept. 24 and notified recipients by letter. The recall remains ongoing.

Consumers should check their vials or pharmacy records, stop using affected products and contact their pharmacist or prescriber for guidance. Anyone experiencing fever, redness, swelling or worsening pain after an affected injection should seek medical advice.

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The FDA notice did not identify any reported illnesses or injuries linked to the recall.

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Social Security corrects nearly 50 million records in largest SSN cleanup in agency history

Tue, 10/20/2026 - 23:44

The Social Security Administration (SSA) confirmed to Fox News on Tuesday that it has undertaken the largest cleanup of Social Security Number (SSN) records in the history of the agency as part of an ongoing fight against fraud.

Since President Donald Trump took office in January 2025, the agency says it has corrected almost 15% of all active SSNs for U.S. citizens — nearly 50 million records out of 330 million.

This included adding 17 million dates of death to records that were previously missing and updating approximately 25 million records that had missing citizenship information. The agency is also in the process of correcting an additional 8.5 million records with inaccurate citizenship status.

The SSA says this cleanup is necessary to prevent fraud across federal programs since SSNs are often tied to federal benefits.

WHITE HOUSE LAUNCHES INTERACTIVE MAP TRACKING BILLIONS IN SUSPECTED FRAUD

"The Social Security Number database is our country’s books and records. The database’s accuracy is essential to maintaining integrity of government services for citizens," SSA Commissioner Frank Bisignano said in a statement.

TRUMP ADMIN WANTS TO REQUIRE TAX FILERS TO DISCLOSE CITIZENSHIP STATUS TO IRS

SSA records are used by federal agencies and states to verify identities and ensure that taxpayer-funded programs are properly administered. The agency says the initiative demonstrates a government-wide commitment to preventing fraud and protecting U.S. citizens' data.

"This is the first time SSA has undertaken an effort of this scale, and I am proud of the work we have done to strengthen the foundation of identity data relied upon throughout government and the economy," said Bisignano.

Earlier this year, the Treasury Department reported that it used Social Security records to stop payments totaling roughly $99 million that had been marked to be sent to dead people. The Treasury used the SSA's Full Death Master File, which contains death records, to identify potentially ineligible recipients before payments were issued.

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The Treasury said it would continue using the verification system across federal programs as part of a broader effort to prevent questionable payments before taxpayer money leaves federal accounts.

The Trump administration has invested significant efforts into its "war on fraud" across the federal government. President Trump established a Task Force to Eliminate Fraud in March with Executive Order 14395. The order appointed Vice President JD Vance as the chairman of the Task Force, which exists to "coordinate and accelerate a comprehensive national strategy to stop fraud, waste, and abuse within Federal benefit programs."

Trump and Vance unveiled the Fraud Whistleblower Incentive Program during a Tuesday afternoon announcement with the Task Force to Eliminate Fraud in the Oval Office. Trump said qualifying tipsters could receive a 1% commission for uncovering fraud, subject to applicable laws and rules.

A White House official had initially described the initiative as a $25 million program offering rewards of up to $30,000 for tips leading to a successful fraud conviction or significant federal enforcement action.

Fox News' Bill Melugin contributed to this report.

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Amazon to hire more than 300,000 US workers for holiday shopping rush

Tue, 10/20/2026 - 23:22

Amazon announced Tuesday that it is hiring more than 300,000 workers across the U.S. for the holiday season.

The jobs include seasonal, part-time and full-time roles across Amazon's U.S. core operations network, with new openings expected to be posted weekly from October through December.

Seasonal employees will earn an average of $20 an hour. Full-time operations workers start at a minimum of $20 an hour, according to the company. 

Average hourly pay across Amazon's core operations workforce is nearly $24.

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The retail giant also announced an expansion of healthcare benefits.

Starting Jan. 1, 2027, seasonal employees who work at least 30 hours per week will be eligible for healthcare coverage beginning on their first day of employment. 

Plans will start at $5 per week with $5 copays, the company said.

AMAZON CRASH ATTORNEYS SAY PILOT PAIRING MAY HAVE BEEN KEY FLAW BEHIND FATAL INCIDENT

Seasonal workers hired before Jan. 1 who meet the eligibility requirements will gain access to the coverage when the new benefit takes effect.

The hiring surge marks Amazon's first increase in holiday recruitment in three years as it prepares for a jump in orders, according to Reuters.

"Our employees are at the heart of everything we do," the company said. "These investments reflect our continued commitment to making Amazon a place where people can earn, learn, and create opportunities for themselves and their families."

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"Whether someone joins us for a season or builds a career here, we want them to feel valued and supported for the work they do. We deliver the future together."

The announcement also follows Amazon's recent investment of more than $1.5 billion in additional pay for its U.S. core operations workforce.

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Reuters contributed to this report.

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Lionel Messi's 'Final Farewell' card sets Topps sales record with hundreds of thousands of orders

Tue, 10/20/2026 - 22:47

Lionel Messi's international career is over, and Topps paid homage in a major way.

The trading card company honored the 2022 World Cup winner with a "Final Farewell" pack, which flew off the shelves in record fashion.

Fanatics announced, via The Athletic, that 664,325 orders of the packs were made, the most in company history, all made in just one week.

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The previous record was 653,737 orders celebrating Shohei Ohtani's 50-50 season in 2024.

The orders ran from Oct. 9 through Oct. 16.

Messi played in his first World Cup in 2006 and originally said that his victory in 2022 would be his final, but he participated in the 2026 edition in the United States. Argentina lost in the final to Spain, and it was the second time Messi had been a runner-up.

An eight-time Ballon d'Or winner, he played in 34 matches and scored 21 goals while handing out 12 assists in his six total appearances. He received the Golden Ball award in both 2014 and 2022.

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This past World Cup was arguably his best, scoring eight goals and recording four assists, both his most in any World Cup competition.

Messi played in his final game for Argentina earlier this month in a friendly against Benin, where he scored his 126th and final international goal. He had 11 total hat tricks, including one against Algeria in this year's World Cup.

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Messi currently plays for Inter Miami in Major League Soccer, where his contract expires after the 2028 season at age 41.

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Homebuyers get an advantage in dozens of US cities — but pay a steep price

Tue, 10/20/2026 - 21:54

Rising mortgage rates have shifted some advantages to prospective homebuyers this fall even as rates above 7% are reducing the purchasing power buyers have available.

Realtor.com's market clock report for the third quarter was released on Monday and found that the national market clock now sits at 4 o'clock after it shifted one hour in favor of buyers since the second quarter, with the time indicating a late balanced market that's trending toward buyers.

Around the country, the number of outright sellers' markets declined from 39 to 27 in the past 12 months, while the number of buyer's markets rose from 13 to 17.

The 55 remaining markets are sitting in balanced territory, with 49 loosening toward buyers and six tightening in favor of sellers.

THE HOUSING MARKET COULD FINALLY BECOME AFFORDABLE AGAIN. HERE'S WHAT IT WOULD TAKE

Higher mortgage rates have slowed the number of sales and increased inventory levels in the market, prompting sellers to offer price cuts and concessions in an effort to attract buyers.

But while buyers are gaining stronger leverage in their negotiations with sellers, that isn't replacing the lost purchasing power they're facing due to the higher mortgage rates.

Realtor.com senior economist Jake Krimmel noted that mortgage rates rose 74 basis points in a little more than a month, jumping from 6.66% in late August to 7.4% on Oct. 8.

For a would-be homebuyer who has a budget for a $2,000 monthly principal-and-interest payment, the spike in mortgage rates erased about $22,000 in home purchasing power.

AFFORDABLE STARTER HOMES ARE STILL A REALITY IN THESE MAJOR US CITIES

The Realtor.com market clock analysis showed significant regional divergences across regions as the relative leverage of buyers and sellers varied widely in different parts of the country.

Markets in the Midwest remained favorable for sellers and accounted for 16 of the 27 seller-friendly markets in the country where lower home prices are keeping demand elevated and inventory levels relatively low.

The Northeast has experienced a systemic lack of supply but unexpectedly saw the largest decline in seller's markets, which fell from 11 to five over the last year as conditions in higher-cost metro areas like Boston and Providence eased amid higher inventory levels.

THE AMERICAN DREAM NOW COSTS $5.3M AS HOMEOWNERSHIP, COLLEGE COSTS SURGE

The South led the country in the number of buyer's markets, adding three since September 2025 to bring the total to 14. The number of seller's markets in the South also declined from seven to two.

The West had zero buyer's markets in June, but picked up three by September as Bakersfield and Riverside, California, switched columns along with Colorado Springs, Colorado.

The metro areas that are currently in peak buyer's markets are Greenville, South Carolina, and Nashville, Tennessee. There was just one metro area, Hartford, Connecticut, where conditions reflect a peak seller's market.

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United CEO silent on $32M compensation after calling wealth gap a 'danger'

Tue, 10/20/2026 - 18:56

United Airlines CEO Scott Kirby is mum when it comes to his own money, even as he calls for a national wealth tax and says income inequality is a "danger" to society.

Kirby, who took home about $32.3 million in total compensation in fiscal year 2025, made the remarks when asked about declining public trust in corporate executives during an interview with The New York Times. His compensation includes salary, stock awards and performance incentives. That was about 334 times the airline’s median employee compensation of $96,670, according to United’s 2026 proxy statement.

"We should have a national wealth tax — it won’t work by state, because people will just move," Kirby told the Times. "And I think we should have inheritance taxes that get close to 100 percent at some level. I would pay them."

INCOME INEQUALITY AT OBAMA FOUNDATION, AS BRASS THRIVES AND RANK AND FILE SEEKS UNION

"Wealth inequality has become a danger to our society, and we need to address that," Kirby added.

Kirby did not specify how much wealth someone would need to have before facing his proposed near-total inheritance tax, or what rate he would support for a national wealth tax.

FOX Business reached out to United to ask how the company's CEO can justify taking in $32.3 million in compensation while arguing that growing wealth inequality poses a threat to American society.

FOX Business also asked if Kirby plans to take a reduction in compensation to share the wealth with his employees. FOX Business did not receive a response to either question.

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Kirby's comments prompted pushback on X, where some users threatened to take their business elsewhere.

"And just like that @united will never get another dime from me," one user wrote.

WHEN AIRLINE PILOTS SAY THERE ARE SAFETY ISSUES, WE NEED POLICYMAKERS TO LISTEN AND ACT

Another urged Kirby to focus on the basics of running an airline.

"@united your CEO is making me question flying your airline. Flight safety, price, timeliness. That should be his focus," the user wrote. "How about we start with not charging $500 for basic 2 hour domestic routes?"

FORMER WASHINGTON GOVERNOR RIPS HER OWN PARTY FOR PUSHING MILLIONAIRES OUT

Kirby also defended charging travelers more for certain seats during the same interview, after being asked about passengers without frequent-flier status paying to avoid middle seats.

"There are some customers who want to sit in a window seat or a better seat, and that costs money to deliver," he told the Times.

Fox News Digital's Bradford Betz contributed to this report.

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Trump announces $8B bailout for farmers to cover diesel cost surge amid attacks on global supply

Tue, 10/20/2026 - 14:38

President Donald Trump announced an $8 billion Harvest Fuel Relief payment to farmers this harvest season to offset rising diesel costs and other increased input expenses amid disruptions to the global energy supply caused by attacks from Iran and its terrorist proxies in the Middle East.

"And some more goodies — you know, I always heard that when you're president, you have a little bit of an advantage, and I sort of see why now, actually, I sort of see why: Tonight, I'm also pleased to announce that the Department of Agriculture will be launching a new Harvest Fuel Relief program, providing our farmers with $8 billion in support to offset diesel costs during this harvest season," Trump said at a rally at the Heartland Credit Union Arena in Park City, Kansas, near Wichita, stumping for Sen. Roger Marshall, R-Kan.

"And Roger Marshall is the leader who fought for that to happen. Roger got it to happen. Good job, Roger."

USDA CREDITS TRUMP TRADE DEALS AS AGRICULTURAL DEFICIT SHRINKS, FARM SECTOR GAINS GROUND

Trump compared this farmer bailout fund to the $12 billion Farmer Bridge Assistance (FBA) program given earlier this year and the total of $28 billion given to farmers in his first administration, including $12 billion before the 2018 midterms.

"And when the Republicans win, we will pass even more funding for our farmers," Trump continued. "We love our farmers.

"I just gave the farmers $12 billion, and in my first term, I gave them $28 billion, if you remember. And that came out of the tariff money from China. China paid it. It was a gift from China."

DEMOCRATS REVOLT OVER TRUMP ADMIN'S $20B AID PLAN, CITING US FARM CRISIS

The USDA announced the $8 billion Harvest Fuel Relief program will provide proportional support based on modeled losses during the 2026 crop year. Payments will be calculated using planted acres, production-cost estimates, yields and prices.

Commodity-specific payment rates for major crops are expected to be released in November. The program will be administered by the Farm Service Agency and funded through the Commodity Credit Corporation Charter Act.

Trump also highlighted a recent executive order waiving the off-road requirement for red-dyed diesel, allowing farmers and truckers to purchase the fuel tax-free.

HOW MUCH DID TRADE WAR RELIEF COST DURING TRUMP'S FIRST TERM?

"Even without that, as soon as that war ends, you're going to see a plunge because there's so much oil and diesel around," Trump said.

The USDA said the program follows $12 billion in bridge payments distributed to more than 560,000 farmers earlier this year and nearly $14 billion in recent Agriculture Risk Coverage and Price Loss Coverage payments.

"President Trump is the most pro-farmer president of my lifetime, and he is continuing to put farmers first every day," Agriculture Secretary Brooke Rollins wrote in a statement Monday. "Today, I am proud to announce alongside President Trump more targeted relief is coming to our farmers through the Harvest Fuel Relief program. This $8 billion dollar investment will help bring certainty to our farmers during this harvest so they can continue to feed our nation."

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Rollins, posting the rally announcement on X, hailed the move as "delivering critical support to farmers facing rising costs and market disruptions."

"President Trump is putting FARMERS FIRST and delivering when they need it most!" she wrote.

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Walmart rolls out new bundle combining Walmart+, Sam’s Club Plus

Tue, 10/20/2026 - 13:01

Walmart announced Tuesday it is rolling out a new membership bundle that gives shoppers access to both Walmart+ and Sam’s Club Plus for $120 a year, nearly $100 less than purchasing the two memberships separately.

The bundle works out to the equivalent of $10 per month, though Walmart said it will only be available as an annual membership and will not include a monthly option or free trial.

The launch comes after Walmart reported continued growth across its membership and e-commerce businesses in its most recent quarterly results in August.

SAM’S CLUB EXPANDS THANKSGIVING MEAL, KEEPING COST UNDER $10 A PERSON AS INFLATION WEIGHS ON CONSUMERS

During the company's second-quarter fiscal 2027 earnings call on Aug. 20, Furner said membership fee revenue increased 17% to an all-time high.

"Marketplace, fulfillment services, membership, advertising and other commerce solutions are strengthening our business, and they are improving the economics of the company," he said at the time.

WALMART DOUBLES DOWN ON PLEDGE AGAINST AI-POWERED PERSONALIZED PRICING

Furner also said Walmart+ membership grew by double digits during the quarter, while Sam's Club membership posted growth in the U.S., China and Mexico.

Walmart+ currently costs $98 for the standard annual plan, while Sam's Club Plus costs $120 a year.

The new bundle rivals Amazon Prime, which costs $139 annually.

WALMART EXPANDS DRONE DELIVERY TO 2 MAJOR US CITIES

Members will receive the benefits of both programs, including free delivery from Walmart and Sam’s Club, access to Sam’s Club locations and member-only pricing, a choice between Peacock and Paramount+, gas discounts and 2% Sam’s Cash on eligible purchases, according to the retailer.

Annual Walmart+ members can add Sam’s Club Plus for an additional $22 per year, while existing Sam’s Club members can upgrade to Plus for $60 and receive Walmart+ at no additional cost.

Current Sam’s Club Plus members will be able to activate Walmart+ at no additional charge.

Walmart also said U.S. field associates at Walmart and Sam’s Club will receive access to both memberships as part of their employee benefits.

The new offering comes as consumers continue to contend with higher prices. Inflation climbed 3.7% in September from a year earlier, according to the Bureau of Labor Statistics' Consumer Price Index. Gasoline prices rose more than 34% over the past year, while grocery prices climbed 1.8%.

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FAA proposes $350K fine against charter company over unauthorized flights

Tue, 10/20/2026 - 09:35

The Federal Aviation Administration announced on Monday that it had proposed a fine of $351,000 against a private charter company for alleged unauthorized flights.

The civil penalty was proposed against Creamer Pilot Services of Fayetteville, Arkansas, according to the FAA, which accused the company of "conducting unauthorized passenger-carrying operations."

Creamer Pilot Services, which does business as Jett Aircraft, allegedly operated 31 passenger-carrying flights using three aircraft that were not on its Operations Specifications, according to the FAA.

AMAZON CRASH ATTORNEYS SAY PILOT PAIRING MAY HAVE BEEN KEY FLAW BEHIND FATAL INCIDENT

The agency said the violations happened on various dates between October 2021 and July 2022.

The FAA also claims Creamer Pilot Services conducted six passenger-carrying flights on two aircraft that were on its Operations Specifications but traveled outside the 48 contiguous U.S. states when the company was not authorized for those flights.

Those violations happened between April 2022 and November 2022, the FAA said.

The FAA alleges that all 37 violations were conducted by Creamer Pilot Services "knowingly, carelessly and recklessly."

FOX Business has reached out to the company for comment.

Jett Aircraft was founded in 2011, according to the company's website, while Creamer Pilot Services began operating charter flights under an FAA Part 135 air carrier certificate in 2018.

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"Founded in 2011, Jett Aircraft was established with a strong focus on delivering exceptional customer service. The company was named after its founder, Lance Creamer's grandson, Jett Allen. Creamer has been involved in the aircraft industry since 1987 and possesses three decades of valuable industry experience," the website reads.

"At Jett Aircraft, we are dedicated to providing world-class travel experiences from our base in Northwest Arkansas and beyond. We continuously strive for excellence in all aspects of our operations," it continues.

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Nearly 1.6M pounds of hot dogs, bacon and other meats recalled nationwide

Tue, 10/20/2026 - 04:37

Nearly 1.6 million pounds of ready-to-eat meat and poultry products, including hot dogs, bacon, brisket and ham, are facing a recall over potential "temperature abuse" during storage, according to federal officials.

Kayem Foods Inc. issued a voluntary recall for about 1,584,361 pounds of ready-to-eat food items, the Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced over the weekend.

FSIS gave the recall its highest-level classification, meaning there is a "reasonable probability" that consuming the affected products could cause "serious, adverse health consequences or death."

CHEDDAR CHEESE RECALLED ACROSS SEVERAL STATES OVER DANGEROUS E. COLI

The meat and poultry products were shipped to retail and foodservice locations across the country, as well as to Hong Kong.

The affected items were produced approximately from March 31 through Oct. 7. The products bear establishment numbers "EST. M/P 7839," "EST. P 20935A" and "EST. M 9520" inside the USDA mark of inspection.

Kayem Foods Inc. has provided a nine-page list of all the affected items, which includes Kayem Beef & Pork Hot Dogs, Kayem Double Smoked Thick Cut Bacon, Kayem Slow Smoked Beef Brisket, Genoa Hot Ham, Al Fresco Roasted Pepper & Asiago Chicken Sausage and Triple M Boneless Ham Steaks.

The problem was discovered after the company received a retail customer complaint about warm product temperatures at the point of delivery on October 1.

The firm investigated the complaint and determined that they stored various ready-to-eat meat and poultry products in a warehouse cooler that experienced temperature deviations.

Kayem said the temperature deviations resulted from a cooling-system malfunction at one of its warehouses. The company said it has corrected the issue and is conducting the recall out of an abundance of caution.

MORE THAN 82K RECHARGEABLE HAND WARMERS RECALLED OVER FIRE RISK

There have been no confirmed reports of illness linked to the consumption of these products. Anyone concerned about an illness is urged to contact a healthcare provider.

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FSIS said it is concerned that some affected items may be in consumers’ refrigerators.

Consumers who have purchased these products are directed not to consume them and to instead throw them away or return them to the place of purchase.

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Anthropic silent on whether it will distribute shares to Americans following Musk SpaceX pledge

Tue, 10/20/2026 - 01:28

Artificial intelligence giant Anthropic remained mum on whether the company would consider giving away shares it pledged to a public benefit fund directly to Americans.

The company announced Sunday that it plans to commit 5% of its shares to a new Anthropic Public Benefit Fund, which could support nonprofit donations or direct distributions to specific populations.

"We’re committing a portion of Anthropic’s shares to the Anthropic Public Benefit Fund, a new wholly owned entity dedicated entirely to the public benefit. It will start off with 5% of our shares. For every 50% increase in the company’s value over a set baseline, we can contribute up to an extra 2%, subject to our board’s discretion. In total, this means that roughly 20% of Anthropic’s shares are committed to the public good," Anthropic said in a Sunday post on X.

ELON MUSK PLEDGES TO GIVE EVERY CHILD IN AMERICA A SPACEX SHARE NEXT YEAR

Fox News Digital asked Anthropic whether it intends to distribute any of the shares to American children or families. The company did not respond to multiple requests for comment on Monday.

In response to Anthropic's announcement about the fund on X, Elon Musk urged the AI company to take a more direct route.

"I recommend giving the shares directly to the public," Musk wrote on X.

SAUDI NATIONAL ACCUSED OF PLANTING RECORDING DEVICE IN OPENAI EXECUTIVE CONFERENCE ROOM

Musk later pledged to give one SpaceX share to every child in America next year, though he has not explained how the giveaway would work.

"Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many," he wrote in a Monday post on X.

President Donald Trump on Monday afternoon thanked Musk for his pledge.

"A BIG THANK YOU to our legendary friend, Elon Musk, for his incredible generosity in giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS!" Trump posted on Truth Social. "This is exactly what was envisioned when we created TRUMP ACCOUNTS — Bringing together the GREAT PRIVATE SECTOR, Elon and so many more, to invest in our children, by far our greatest and most important asset, and give every American Child a piece of the American Dream."

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LARRY KUDLOW: No leading Dems have condemned Senator Elissa Slotkin’s Bolshevik weaponization of Republicans

Tue, 10/20/2026 - 00:41

We all know Senator Elissa Slotkin hit a new low in lawfare and weaponization jihad, with her remarks at the University of Chicago last week, but what’s particularly interesting is that I can’t seem to find any leading Democrat who disagrees with Ms. Slotkin’s pledge to punish young people for working in a Republican administration. So far all the objections are coming from either Republican officials or Republican leaning commentators, but nothing from Democrats. Surprise, surprise. Don’t you remember President Biden and the party of democracy? And all those awful things that President Trump did undermining American democracy, which have basically come to nothing?

Indeed, as Victor Davis Hanson writes in "The Counterrevolution: The Fall and Rise of Donald Trump and the MAGA Movement," every time Jack Smith or Alvin Bragg or Letitia James or Fani Willis brought even crazier and crazier lawsuits against Mr. Trump, his popularity went up, not down. This was one of the key turning points in Mr. Trump’s successful comeback to win the 2024 election.

So here goes Ms. Slotkin, not even pretending to bring legal charges, insisting that: "I want to look at these signature cases and not just focus on the president, but on the people who enabled him. I want young people coming out of school to say, should I go work for the Trump administration? Like, that sounds fun, I might get an opportunity. I want them to be like, Lord, that might be buying myself a ton of problems that I don’t want, and so let me avoid participating in that. I want that deterrence message sent."

Ms. Slotkin’s point is to bring political prosecution to young Republican staffers, most of whom are schedule C political appointees who want to work for their president in a Republican administration. Then again the tables could be turned and it will be young Democrats working as schedule C’s in a Democrat administration. That’s how crazy this idea is.

Ms. Slotkin is not even trying to bring a legal case, which would be lawfare. This is just weaponization, which is basically just showing up for work. It’s got to be a new low in the world of political harassment.

As the ace New York Post columnist, Miranda Devine, puts it: "This is how the Bolshevik left who control today’s Democratic Party play the game. "Well that works, because after all the socialists are taking over the Democratic Party. And as one great leap forward leads to another, we go from big government socialism to outright Bolshevism. Lenin would be proud.

Remember, our former CIA operative, Ms. Slotkin, is using her presumed spymaster skills in such a malevolent way, that I wish she’d stayed at the CIA and prosecuted Russian enemies, or even Communist Chinese enemies. Anyway it’s disgraceful.

In response to the outrage from Senator Mike Lee and many others, here’s what Ms. Slotkin posted on X: "Spare me the pearl-clutching — especially from Republican Members of Congress and online MAGA grifters who have cheered President Trump’s weaponization of the government against those he doesn’t like, as recently as last week."

Actually, the best response I’ve seen to Ms. Slotkin comes from our pal Ben Domenech of the Daily Wire, whose elegant solution to the bolshie weaponization is for Mr. Trump to announce before leaving office that he has pardoned every single Schedule C political appointee to his administration.

Very elegant, especially in the post-Hunter Biden period of American history. Tomorrow, I will be talking to Mr. Domenech some more about the tactics of legal terrorism from the democracy-hating Democratic party.

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Capitalism needs a newer pitch as socialism gains ground, economist says

Mon, 10/19/2026 - 22:26

The rise of socialism in U.S. politics has free market advocates looking for new ways to make the case for preserving public support for capitalism and economic freedom.

Sam Gregg, president of the American Institute of Economic Research, spoke with FOX Business and noted that in recent years there has been "a rise on the political left of people who describe themselves as democratic socialists," adding that these "are not people of your old-style Democratic Party, these are not your JFK Democrats."

"These are people who fundamentally disagree with the economic settings of the United States, and they want the U.S. to essentially look much more like what you might call a European social democracy," he said.

"Those of us who believe in free markets, I think, really need to improve our game in terms of persuading people on the right and the left as to why these bad policies don't work," Gregg said.

JEFF BEZOS SAYS SOCIALISM GAINS TRACTION BECAUSE OF 'REAL AFFORDABILITY PROBLEMS,' LACK OF REAL SOLUTIONS

"People who are free marketers are very good at talking about policy… What we're less good at is invoking the type of moral language that is necessary if you want to persuade people," he said.

"People will be persuaded up to a point by economic arguments, but they're also wanting to know that they're doing the right thing, they're doing the good thing."

Gregg said that free market arguments need to not only highlight economic prosperity and wealth that capitalism can deliver, but also emphasize that "it's a broader fight for liberty, it's also a broader way of thinking about how people can participate in the American Dream and pursue all sorts of things."

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"Once the government starts shutting down economic freedom, other freedoms quickly follow. Once you start to compromise property rights, it's not just your economic freedom that becomes constricted," Gregg said.

"It's your ability to get up and move. It's your ability to freely associate with people. It's your ability to hold opinions without thinking that if you hold the wrong political opinion, the government's going to take your property away from you," he said.

Polling data suggests that while socialism is gaining ground in terms of favorability, it remains well behind capitalism. A Fox News poll conducted Oct. 9-12 found that 51% of voters had a favorable view of capitalism, down 2 points from a year ago and 6 points from early 2019, while socialism had a 32% favorability rating in the latest poll, up 5 points from last year and 7 points from 2019.

THE HISTORY OF SOCIALISM IN THE US – AND WHY THE AMERICAN DREAM PREVAILS

Gregg, who is writing a new book about the civilization of commerce, aims to "point out that the argument for free markets includes good economic policy, it includes things like respecting people's economic liberty."

"When you live in a free market economy and the institutions and policies that buttress that, you have many more opportunities to pursue happiness… to transform your lives, not just in economic ways, but at the level of your family, in the culture, in everything we do," Gregg said. "It adds up to a much richer, more dynamic, frankly more interesting society than all the alternatives."

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Jamie Dimon warns of 5 economic threats lurking 'under the surface'

Mon, 10/19/2026 - 20:38

JPMorgan Chase CEO Jamie Dimon warned that while the U.S. economy is being driven by both consumer spending and business investment, there are five economic threats that may challenge that growth.

Dimon's comments were included in JPMorgan's quarterly earnings release last week, which noted the nation's largest bank missed Wall Street analysts' profit expectations.

"The U.S. economy continued to be fueled by strong business investment and ongoing consumer spending," Dimon said.

"However, large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface," he added. "These forces may be manageable, but we remain prepared for a wide range of outcomes."

CONSUMER INFLATION ROSE FASTER THAN EXPECTED IN SEPTEMBER, CPI REPORT SAYS

Dimon's concerns come as fresh economic data showing that inflation accelerated more than expected in September was released on Wednesday.

The Bureau of Labor Statistics released the September consumer price index (CPI), which showed headline CPI rose 3.7% year over year – above the 3.6% estimate of economists polled by LSEG. Core CPI, which excludes volatile food and energy prices, was up 2.6% from a year ago, which was also hotter than the expectations of economists who estimated a 2.5% rise.

Both core and headline CPI inflation are well above the Federal Reserve's 2% target rate, setting up a potential interest rate hike by policymakers before the end of the year. The central bank's next two monetary policy meetings are in late October and mid-December.

FEDERAL BUDGET DEFICIT HITS $2T AS NATIONAL DEBT COSTS SURGE

Higher interest rates on longer-term U.S. Treasurys are caused in part by the Federal Reserve raising its benchmark federal funds rate, as occurred when policymakers met in September.

Other factors also play a significant role in driving interest rates higher, including larger fiscal deficits around the world as well as increased issuance of corporate debt as companies sell bonds to raise capital for the artificial intelligence (AI) buildout and other investments.

Investors seeking higher returns in exchange for purchasing bonds have contributed to the upward pressure on yields.

JAMIE DIMON, DAVID SOLOMON, OTHER TOP EXECS PRAISE TRUMP ADMIN'S PRO-BUSINESS POLICIES

Dimon's comments on large budget deficits follow the news that the U.S. federal government had a $2 trillion shortfall in its recently concluded fiscal year 2026.

The nonpartisan Congressional Budget Office (CBO) reported that the preliminary data showed a $1.993 trillion deficit in fiscal year 2026, which wrapped up at the end of September.

CBO reported that the main drivers of the budget deficit were increased spending on servicing the national debt, with net interest expenses rising by $115 billion, or 11%, from a year ago.

The larger national debt and higher long-term interest rates drove up debt service costs, which were among the largest expenses in the federal budget.

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