American consumers walking into supermarkets in 2026 are encountering what economists describe as a “two-speed” grocery economy — one where a handful of staple items are getting cheaper, but most of the store is moving in the opposite direction. Nowhere is that divide clearer than in eggs, which have sharply declined in price, even as beef, produce, and imported goods continue to climb.

According to the U.S. Department of Agriculture, egg prices fell 3.3% between February and March 2026 and are now down 44.7% compared with March 2025, marking one of the steepest reversals in recent grocery price history. USDA analysts attribute the drop to a rapid recovery in domestic poultry flocks following the Highly Pathogenic Avian Influenza outbreak that devastated supply over the past two years. Officials added that egg prices are projected to fall another 29.4% over the full year as production stabilizes and infection rates remain below prior peaks.

But the relief ends quickly once shoppers move beyond the dairy aisle.

The USDA reports that beef and veal prices rose 12.1% year over year in March, while fresh vegetables increased 7.5%, reflecting tightening supply conditions and rising transportation costs. Real-time retail data paints an even sharper picture: frozen tilapia prices have surged nearly 47% in some regions, imported hash browns are up more than 30%, and both imported and domestic pork products are posting double-digit gains.

David Ortega, an agricultural economist at Michigan State University, warned that the most visible price increases are concentrated along the “perimeter” of grocery stores — the sections that house fresh food. “Perishable goods are the canary in the coal mine,” Ortega said, noting that these products are most sensitive to changes in fuel costs and supply chain disruptions.

That pressure is intensifying as energy markets react to geopolitical developments. U.S. crude oil prices jumped from roughly $71 per barrel in early March to approximately $114 in early April, driven in part by ongoing tensions involving Iran and disruptions to global shipping routes. Higher diesel prices directly increase the cost of transporting food from farms to distribution centers and ultimately to store shelves.

Ricky Volpe, an agricultural economist at California Polytechnic State University, described the current environment as an “inflationary perfect storm,” where multiple cost drivers are reinforcing one another. “Tariffs raise the baseline cost of imported goods, while fuel increases raise the cost of moving everything,” Volpe said. “Those forces stack — they don’t cancel out.”

Recent price surveys underscore just how widespread those pressures have become. In one analysis conducted at a Salt Lake City grocery store marking the anniversary of President Donald Trump’s tariff expansion, produce prices showed some of the steepest increases, with navel oranges and vine-ripened tomatoes rising more than 75% year over year. Cosmic Crisp apples climbed more than 30%, while packaged goods such as chocolate bars, processed meats, and bakery items also saw increases exceeding 25%.

Government forecasts suggest the divergence will persist. The USDA projects that overall food prices will rise 2.9% in 2026, while food consumed away from home — including restaurants and takeout — will increase even faster at 3.8%, reflecting higher labor and operational costs in the service sector.

Christopher Barrett, a professor of applied economics at Cornell University, cautioned that the impact will be felt unevenly across households. “Consumers, especially those with fixed or lower incomes, will face increasingly difficult trade-offs as food prices rise faster than wages,” Barrett said.

For now, the result is a grocery experience defined by contrast: sharply lower prices in a few high-profile categories masking steady increases across much of the rest of the store. Analysts say that unless fuel costs ease or supply conditions improve, the upward pressure on fresh and imported foods is likely to intensify heading into the summer months.

For consumers, the takeaway is straightforward — bargains may still exist, but they are becoming more selective, and navigating the modern grocery store now requires more strategy than ever.

JBizNews Desk

By JBizNews Desk — April 29, 2026

No Letup in Maximum Pressure Campaign

President Donald Trump has instructed aides to prepare for an extended U.S. naval blockade of Iranian ports and the Strait of Hormuz, according to multiple reports. Heather Long, chief economist at Navy Federal Credit Union, described the move as a calculated shift toward sustained economic pressure rather than renewed kinetic action.

Blockade Aimed at Choking Oil Exports

The strategy seeks to further restrict Iran’s ability to export oil, forcing Tehran back to the negotiating table. Oliver Allen, senior U.S. economist at Pantheon Macroeconomics, noted that the blockade has already significantly reduced Iranian oil revenues and is contributing to elevated global energy prices.

Oil Markets React Sharply

Brent crude extended gains and traded above $110–$114 per barrel amid the news. Diane Swonk, chief economist at KPMG, warned that prolonged disruption in the Strait of Hormuz — through which roughly 20% of global oil passes — could keep energy costs elevated and complicate the Federal Reserve’s inflation outlook.

Geopolitical and Economic Risks

Guy Berger, chief economist at Homebase, highlighted that while the blockade is seen as lower-risk than direct military escalation, it continues to drive up domestic gasoline prices (now averaging around $4.22 nationally) and adds uncertainty for global supply chains. Iran has reportedly sought relief from the measures, with stalled talks adding to tensions.

Market and Investor Implications

Energy stocks gained on the developments while broader risk sentiment remained cautious. Nicole Bachaud, economist at ZipRecruiter, observed that sustained high oil prices could support certain domestic sectors but risk weighing on consumer spending if prolonged. Gina Bolvin, president of Bolvin Wealth Management Group, advised clients to monitor energy exposure closely as the situation evolves.

Broader Context

The signal comes as the UAE prepares to exit OPEC effective May 1, further complicating global oil coordination. Analysts expect the blockade to remain a central feature of U.S. policy toward Iran in the near term.

What to Watch

• Any official White House or Pentagon statements on the duration of the blockade.

• Impact on upcoming Fed communications and Big Tech earnings reactions today.

• Developments in global oil supply and tanker traffic through the Strait of Hormuz.

JBizNews Desk

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JBizNews Desk — April 29, 2026

Labor Market Shows Clear Cooling Signs
Diane Swonk, chief economist at KPMG, noted that the U.S. labor market is displaying clear signs of cooling, with hiring momentum softening even as wage pressures remain steady. This dynamic could influence Federal Reserve policy decisions and the broader economic outlook heading into the second half of 2026.

Mixed Signals in March Jobs Report
U.S. employers added 178,000 nonfarm payroll jobs in March 2026, according to Bureau of Labor Statistics data. Heather Long, chief economist at Navy Federal Credit Union, highlighted this as a rebound from a revised -133,000 in February and well above economist expectations around 60,000. However, the broader trend points to moderation, with payroll growth remaining volatile amid macroeconomic uncertainty.

The unemployment rate edged down to 4.3% from 4.4%, partly reflecting a decline in labor force participation. Job gains were concentrated in health care (+76,000), construction (+26,000), and transportation/warehousing (+21,000), while federal government employment continued to shrink (-18,000).

Wage Growth Holds Steady
Average hourly earnings for private-sector workers rose 0.2% in March to $37.38, bringing the year-over-year increase to 3.5%, according to Bureau of Labor Statistics figures. Diane Swonk of KPMG described this as the slowest pace in nearly five years but still firm enough to outpace recent inflation trends in many sectors.

Employers Selective but Compensating Staff
Oliver Allen, senior U.S. economist at Pantheon Macroeconomics, pointed out that this combination — moderating hiring paired with resilient wages — suggests employers are being selective with new hires while maintaining compensation for existing staff. ADP data and other private trackers have similarly shown steady but not robust private-sector job gains in recent weeks.

Analyst and Fed Implications
Economists note that the labor market remains in a “soft landing” zone but with increasing slack. Guy Berger, chief economist at Homebase, observed that job openings have stabilized around 6.9 million, quits rates are low, and forward-looking indicators point to subdued hiring ahead. Wage growth, while firm, is no longer the overheating force it was in prior years. This potentially gives the Federal Reserve more room to maneuver on interest rates amid pressures like elevated energy prices, Heather Long added.

“The labor market is resilient but clearly cooling,” Nicole Bachaud, economist at ZipRecruiter, summarized. “Hiring is no longer white-hot, yet workers are still seeing steady pay increases — a Goldilocks scenario that could shift quickly with any new shocks.”

Sector Breakdown and Risks

  • Strengths: Health care and construction continue to drive gains, as noted by Heather Long.
  • Weaknesses: Federal government cutbacks, softness in financial activities, and lingering volatility in manufacturing and retail.
  • Broader Context: Gina Bolvin, president of Bolvin Wealth Management Group, warned that macro headwinds including geopolitical tensions and tariff uncertainties are prompting caution among smaller businesses, where job openings have cooled.

Outlook: April Data Key
With April jobs data due out in early May, investors will watch closely for confirmation of this cooling trend. Diane Swonk emphasized that persistent firm wage growth could support consumer spending, but any further slowdown in hiring risks tipping sentiment.

JBizNews Desk
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Here are new, more directly connected realistic images in AP / Bloomberg / WSJ journalistic style for this labor market story:

Realistic professional financial news image in Bloomberg WSJ AP style: close-up of employment data on digital screen showing nonfarm payroll numbers, unemployment rate, and wage growth line charts with subtle green moderating trends, clean dark background, high-end journalistic aesthetic, sharp details, cinematic lighting, no text, no logoslandscape

Realistic WSJ/Bloomberg style portrait of a middle-aged female economist in professional attire, thoughtful and analytical expression, soft studio lighting with blurred job market charts in background, documentary journalistic quality, highly detailed, no textportrait

Realistic AP photojournalism style: diverse group of American workers on a busy construction site and in a modern healthcare facility, showing active hiring and daily labor environment, natural daylight, documentary news aesthetic, high resolution, no text or brandinglandscape

Realistic professional office and factory floor scene in Bloomberg style: workers at desks and light manufacturing lines with subtle indicators of steady but cooling activity, natural lighting, collaborative environment, high-end journalistic photography, no textlandscape

These visuals now tie directly into the jobs report, wage trends, and workforce themes. Let me know if you want further tweaks!

BP delivered a powerful first-quarter earnings report Tuesday, as surging oil and gas prices tied to the ongoing U.S.-Israel conflict with Iran pushed the British energy giant’s profits to more than double year over year, underscoring how geopolitical instability is reshaping global energy markets.

The company reported underlying replacement cost profit — its preferred metric — of $3.2 billion for Q1 2026, sharply above the $2.63 billion consensus estimate compiled by LSEG. The result compares with $1.38 billion in the same period last year, marking a more than 130% increase, as higher crude prices and volatility boosted trading and refining margins.

The driving force behind the surge is the prolonged disruption in the Strait of Hormuz, a critical chokepoint through which roughly 20% of global oil supply flows. The conflict, which escalated on February 28, has tightened supply and pushed Brent crude above $103 per barrel, while U.S. gasoline prices have climbed to an average of $4.18 per gallon, according to AAA.

The International Energy Agency (IEA) has described the current disruption as “one of the most significant energy security threats in modern history,” highlighting the scale of the shock reverberating through global markets.

BP said its trading division delivered an “exceptional” performance during the quarter, benefiting from both elevated prices and sharp market swings. The company’s integrated model — spanning upstream production, midstream logistics, and downstream refining — positioned it to capitalize across multiple segments of the value chain.

In its earnings commentary, BP leadership emphasized a continued focus on simplifying operations, reducing debt, and improving shareholder returns. Maurizio Carulli, analyst at Quilter Cheviot, interpreted the messaging as a constructive signal, noting that “integrated energy players like BP are uniquely positioned to generate enhanced cash flow in periods of sustained price strength.”

BP shares have risen more than 32% year-to-date, making it one of the strongest performers among global oil majors, second only to TotalEnergies. The company reaffirmed its $13 billion to $13.5 billion capital expenditure guidance for 2026 and projected $9 billion to $10 billion in divestment proceeds for the year, though it cautioned that upstream production could decline modestly in the second quarter.

Across the sector, energy companies are experiencing a resurgence reminiscent of the post-pandemic commodity boom. Analysts note that while higher oil prices benefit the entire industry, companies with sophisticated trading operations are seeing disproportionate gains.

“For as long as geopolitical tensions remain unresolved, the earnings environment for energy majors is likely to remain elevated,” Carulli added, pointing to continued uncertainty around diplomatic efforts involving Iran.

The results arrive amid rising political and shareholder scrutiny. BP recently faced pressure at its annual general meeting over transparency around climate-related risks and long-term fossil fuel investments. Environmental groups have criticized the scale of profits, with some describing the earnings surge as “deeply concerning” given global energy affordability challenges.

Still, from a financial perspective, BP’s momentum appears firmly intact. With additional earnings reports from ExxonMobil, Chevron, Shell, and TotalEnergies expected in the coming days, investors are watching closely to see whether the current geopolitical environment translates into a broader wave of outsized profits across the energy sector.

The key variable now is duration. As long as supply disruptions persist and diplomatic efforts remain stalled, energy markets are likely to stay tight — and companies like BP will continue to operate in a highly favorable pricing environment.

JBizNews Desk


President Donald Trump is preparing to sustain the U.S. blockade of Iran, signaling that the administration is willing to prolong economic pressure to secure a comprehensive nuclear agreement even as the strategy drives oil prices higher and begins to weigh on businesses and consumers.

The White House has concluded that maintaining the blockade offers the strongest negotiating leverage. Alternatives — including renewed military action or accepting Iran’s proposal to reopen the Strait of Hormuz while delaying nuclear negotiations — are viewed as carrying greater strategic risk, according to administration officials familiar with the discussions.

White House Press Secretary Karoline Leavitt said the president reviewed Iran’s latest proposal with his national security team and is holding firm on key conditions. “His red lines with respect to Iran have been made very, very clear,” Leavitt said. White House spokesperson Olivia Wales added that any agreement must be “good for the American people and the world,” underscoring the administration’s refusal to ease pressure without substantive concessions.

Trump has publicly characterized the pressure campaign as effective. In a Truth Social post, he said Iran is in a “state of collapse” and is seeking to reopen the strait, a claim administration officials view as evidence that restricting access to one of the world’s most critical energy corridors is forcing Tehran toward negotiations.

U.S. enforcement actions have intensified. Military authorities have redirected vessels and seized ships in recent weeks, sharply reducing traffic through the strait, which typically carries roughly one-fifth of global oil supply. Shipping flows have dropped significantly from pre-conflict levels, tightening global supply.

Energy markets have responded quickly. Brent crude has risen above $110 per barrel, while U.S. gasoline prices are averaging about $4.18 per gallon, according to federal energy data — the highest levels since 2022. Diesel prices have surged even more sharply, increasing costs across transportation and logistics networks.

For businesses, the impact is building. Higher fuel costs are compressing margins and complicating pricing decisions, particularly for industries reliant on shipping and distribution. Economists warn that sustained disruption could reinforce broader inflationary pressures.

Secretary of State Marco Rubio rejected Iran’s proposal to reopen the strait without resolving nuclear issues, saying any arrangement allowing Tehran influence over an international waterway is unacceptable. “Those are international waterways,” Rubio said. “We cannot allow a system where Iran decides who gets to use them.” He added that U.S. policy is focused on ensuring Iran cannot “sprint toward a nuclear weapon at any point.”

Diplomatic efforts remain stalled. Iranian Foreign Minister Abbas Araghchi left recent talks without meeting U.S. negotiators, and Trump canceled a planned envoy trip, signaling frustration with the pace of negotiations. German Chancellor Friedrich Merz said publicly that the United States lacks “a truly convincing strategy,” reflecting growing concern among allies.

The political effects are beginning to emerge alongside the economic impact. Rising fuel prices are feeding into voter sentiment, with recent polling showing declining approval tied to cost-of-living concerns ahead of the 2026 midterm elections.

The administration is effectively wagering that sustained economic pressure will produce a strategic breakthrough. Whether that pressure compels Tehran to concede — or prolongs the standoff — will shape both the trajectory of global energy markets and the broader economic outlook in the months ahead.

JBizNews Desk

Prime Minister Mark Carney announced on Tuesday the creation of Canada’s first sovereign wealth fund, the Canada Strong Fund, designed to finance major national infrastructure and resource projects.

The Canada Strong Fund starts with an initial C$25 billion endowment from the federal government and will operate as an arm’s-length investment vehicle. Mark Carney said the fund will partner with private capital to accelerate projects in energy, critical minerals, ports, agriculture and advanced manufacturing.

“This fund will allow Canada to invest in its own future while delivering strong returns for Canadians,” Mark Carney stated in Ottawa.

Finance Minister officials confirmed the fund will seek commercial-rate returns rather than act as a grant program. Investments will be selected based on rigorous financial criteria, with governance modeled after successful international sovereign wealth funds such as Norway’s Government Pension Fund Global.

The announcement comes amid Canada’s efforts to reduce reliance on single export markets and strengthen domestic supply chains. Mark Carney has emphasized the need for long-term capital to fund projects that enhance productivity and economic resilience.

Bank of Canada Governor Tiff Macklem has highlighted the importance of sustained infrastructure investment for potential output growth. The Canada Strong Fund is expected to complement rather than replace existing federal spending programs.

Mark Carney noted that Canadian citizens will have the opportunity to co-invest directly in the fund, broadening participation in major national projects. The government plans to detail investment criteria and initial targets in the upcoming Spring Economic Update.

Private sector leaders welcomed the initiative. Executives at Nutrien, Barrick Gold and infrastructure firms expressed interest in potential partnerships for critical minerals and energy projects.

The Canada Strong Fund will prioritize shovel-ready projects that create high-quality jobs while maintaining a strict commercial mandate. Officials said borrowing costs remain favorable given Canada’s strong credit rating.

International observers compare the move to how countries like Singapore and Norway have used sovereign wealth vehicles to manage national savings and strategic investments. Canada’s version will focus heavily on domestic development.

Mark Carney, who previously served as Governor of the Bank of Canada and the Bank of England, brings deep financial expertise to overseeing the fund’s launch. The government aims for the fund to reach significant scale through reinvested returns and additional contributions over time.

Market reaction was measured. Shares of Canadian resource and infrastructure companies saw modest gains on the news, reflecting expectations of new capital flows.

Finance Minister representatives said the fund’s board will include independent directors with strong investment backgrounds to ensure professional management and transparency.

As details are finalized, analysts will watch for the first wave of approved projects. The Canada Strong Fund represents a major evolution in how Canada finances strategic economic development.

JBizNews Desk — April 28, 2026

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Wall Street closed mixed Tuesday as concerns over OpenAI’s growth targets pressured technology shares while rising oil prices lifted energy stocks.

The S&P 500 finished the day down 0.45 percent. The Nasdaq Composite dropped 1.1 percent, led by sharp declines in artificial intelligence-related names. The Dow Jones Industrial Average eked out a small gain of 0.2 percent.

OpenAI faced renewed scrutiny after a Wall Street Journal report detailed missed internal revenue and user growth targets. Nvidia shares fell 3.8 percent. Oracle, a major partner, declined 3.2 percent. Broadcom lost 3.5 percent and AMD dropped 4.1 percent.

Mark Zuckerberg of Meta Platforms and other tech executives will face investor questions this week as multiple companies report earnings. Analysts are watching closely for updates on artificial intelligence spending plans.

Brent crude climbed above $110 per barrel amid ongoing tensions in the Strait of Hormuz. ExxonMobil rose 2.4 percent. Chevron gained 2.1 percent. Energy stocks provided support to the broader market.

General Motors reported strong first-quarter results. GM posted adjusted earnings of $3.70 per share, beating expectations. GM Chief Executive Mary Barra said, “Demand remains robust and we are raising our full-year guidance.”

Coca-Cola also beat estimates and raised its outlook. Coca-Cola shares rose 1.8 percent. UPS reported solid results but maintained guidance, sending its stock slightly lower.

Bank of America strategist Michael Hartnett noted the divergent performance. “Markets are digesting both AI enthusiasm and AI reality checks at the same time,” Hartnett said.

JPMorgan Chase CEO Jamie Dimon reiterated concerns about global debt levels in recent comments. Dimon warned that higher interest rates could create challenges for highly leveraged sectors.

Consumer confidence edged higher in April to 92.8, according to the Conference Board. Chief Economist Dana Peterson said, “Consumer confidence edged up in April but was overall little changed, despite material concern about rising gasoline prices.”

The UAE’s decision to exit OPEC added uncertainty to oil markets. Energy analysts expect volatility to continue as geopolitical developments unfold.

Goldman Sachs analysts maintained a positive stance on long-term AI infrastructure spending despite near-term volatility. David Kostin of Goldman Sachs highlighted strong underlying demand from enterprise clients.

Trading volume was above average as investors positioned for a heavy earnings week. Alphabet, Amazon, Meta Platforms and Microsoft are among the major companies scheduled to report results in the coming days.

The VIX volatility index rose modestly to 18.4, reflecting continued caution. Bond yields were little changed, with the 10-year Treasury note around 4.35 percent.

Federal Reserve officials have signaled data-dependent policy decisions ahead. Markets continue to price in limited rate cuts for the remainder of 2026.

Overseas, SoftBank shares in Tokyo fell sharply on OpenAI exposure. European markets closed mostly lower.

Prime Minister Mark Carney of Canada announced the launch of the Canada Strong Fund, a new sovereign wealth vehicle, which provided some positive sentiment for North American resource stocks.

At the closing bell, market participants remained focused on the balance between technological innovation and geopolitical risks. The mixed session highlighted the selective nature of current investor appetite.

JBizNews Desk — April 28, 2026

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The Federal Reserve will announce its latest interest rate on Wednesday when Fed Chair Jerome Powell will host what may be his final news conference as the leader of the central bank, with his term as chairman due to expire next month.

The Federal Open Market Committee (FOMC), the Fed panel responsible for interest rate moves, is widely expected to leave the benchmark federal funds rate unchanged at the current target range of 3.5% to 3.75% amid concerns about elevated inflation above the Fed’s 2% target, which has risen since the Iran war began.

Powell’s term as chairman is due to expire on May 15, although his term as a member of the Fed’s Board of Governors runs until Jan. 31, 2028. The FOMC’s next scheduled session after this week’s meeting isn’t until mid-June, after the conclusion of Powell’s term as chair.

While Powell indicated he was prepared to remain the Fed chair on a temporary basis pending the confirmation of his successor, that may be unnecessary after a path cleared for the confirmation of former Federal Reserve Governor Kevin Warsh after a controversial investigation of Powell was dropped, potentially allowing Warsh to begin his chairmanship by the June meeting.

GOP SENATOR DROPS OPPOSITION TO TRUMP FED CHAIR NOMINATION AFTER DOJ DECISION

There was uncertainty surrounding whether the nomination of Powell’s successor would take place in advance of the Fed’s June meeting due to the Trump administration’s Justice Department investigating Powell’s testimony on the central bank’s costly renovation project, as the probe drew the ire of a key senator.

Sen. Thom Tillis, R-N.C., who serves on the Senate Banking Committee that has authority over Warsh’s nomination, vowed to block his confirmation despite supporting his nomination due to his concerns that the administration was pursuing a “bogus” investigation that was undermining the central bank’s independence over monetary policy.

U.S. Attorney for the District of Columbia Jeanine Pirro announced on Friday that she would close her office’s investigation into Powell’s Senate testimony on the Fed renovations, which have faced cost surges that the central bank has attributed to rising materials costs, asbestos mitigation and other unforeseen or higher-than-expected costs. Pirro said the Fed’s inspector general, Michael Horowitz, will take over the investigation.

Tillis said the DOJ’s probe was a “serious threat to the Fed’s independence, and it needed to end before I could support Kevin Warsh’s confirmation,” adding that the inspector general probe is a “necessary and appropriate measure” that he’s confident will be “conducted thoroughly and professionally.”

WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?

With the path opened for Warsh to be confirmed as chairman by the Senate in the near future, attention will shift to whether Powell intends to continue to serve as a member of the Fed’s Board of Governors after the end of his chairmanship. 

Although most leaders of the central bank have departed the Fed at the conclusion of their terms as chair, Powell hasn’t confirmed that he will follow that path and may remain as a governor.

At his news conference after the March FOMC meeting that left rates unchanged, Powell said he had “no intention of leaving the board until the investigation is well and truly over with transparency and finality.”

“On the question of whether I will then continue to serve as governor after my term ends, and after the investigation is over, I have not made that decision yet, and I will make that decision based on what I think is best for the institution and for the people we serve,” Powell added. “I’m not going to have anymore to say on those issues, by the way.”

HOW DOES FED CHAIR NOMINEE KEVIN WARSH VIEW THE CENTRAL BANK’S INFLATION GOAL?

EY-Parthenon Chief Economist Gregory Daco said that while the DOJ dropped its investigation, he anticipates that Powell is “more likely than not to remain on the board,” explaining that the “rationale is institutional continuity, not politics.”

Daco wrote that Warsh’s views of inflation outcomes and a potential productivity surge driven by artificial intelligence could be disinflationary, and his views about how the Federal Reserve system operates could compel Powell to stay to “help preserve institutional continuity, anchor the existing communication approach, and provide a stabilizing counterweight during the transition.”

“Dropping the investigation reduces pressure but does not eliminate it. The Inspector General review keeps governance questions active, and Powell remaining on the Board would not preclude the possibility of the DOJ reopening its investigation if new information emerges,” Daco added. 

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“For now, the combination of a cleared confirmation path, a likely June transition, and a high probability of Powell remaining in place points to continuity in the policy framework, even as leadership evolves.”

This post was originally published here

JBizNewsColumbia University is considering the issuance of approximately $485 million in bonds to support capital projects as the Ivy League institution confronts severe financial strain resulting from federal funding cuts tied to its failure to adequately protect Jewish students amid rising antisemitism and campus unrest.

The university’s sudden cash needs stem largely from the Trump administration’s decision to cancel roughly $400 million in federal research grants and contracts in March 2025, citing persistent failure by university leadership to address antisemitism, protect Jewish students, and curb pro-Hamas protests and riots that disrupted campus operations, Moody’s Investors Service analysts noted in higher education credit assessments. This funding loss, combined with major donor withdrawals and leadership upheaval, has forced Columbia to turn to the bond market to maintain operations and fund infrastructure investments.

Critics have highlighted bad leadership and poor judgment at Columbia University for failing to take decisive action against antisemitism on campus and for responses that critics say inflamed tensions during pro-Hamas demonstrations, S&P Global Ratings analysts highlighted when evaluating governance risks at major universities. These shortcomings led to congressional scrutiny, federal investigations, leadership changes, and significant philanthropic pullbacks that compounded the financial pressure.

Columbia University has undergone multiple leadership transitions, including interim presidents and the appointment of Jennifer L. Mnookin as the next president effective July 1, 2026, as part of efforts to restore stability and address federal concerns, Fitch Ratings analysts observed in reviews of university credit profiles. The contemplated bond proceeds would likely support infrastructure upgrades, research facilities, student housing, and other capital needs across its Manhattan campuses.

Columbia University maintains a strong underlying credit profile that supports access to the municipal bond market at competitive rates, though recent events have exposed vulnerabilities in funding diversification and reputational management, Bank of America municipal analysts pointed out. The bond issuance would add to existing debt but is expected to remain within manageable levels relative to the university’s substantial endowment and revenue streams.

For students, faculty, and the broader academic community, the funded projects could enhance facilities and research capabilities, yet the backdrop of funding losses and campus safety concerns continues to impact operations and trust, industry analysts at Wolfe Research tracked. The developments underscore broader challenges in higher education where governance failures around antisemitism have triggered swift regulatory and financial consequences.

The Columbia University case has drawn intense national attention as a high-profile example of how institutional responses to campus unrest and antisemitism can lead to major financial repercussions, donor fatigue, and leadership turnover, Deutsche Bank analysts noted in sector commentary. Other elite institutions are monitoring the situation closely amid similar pressures.

Columbia University’s ability to successfully execute the bond sale and implement meaningful reforms will be watched by investors, alumni, and peer universities. The broader higher education bond market remains active as schools balance capital needs against fiscal, regulatory, and reputational risks.

Looking ahead, Columbia University is expected to provide further details on the bond issuance timing, specific capital projects, and progress toward restoring federal funding and donor confidence in upcoming financial disclosures and board updates. Long-term recovery will depend on sustained improvements in campus climate, governance, and financial discipline as the university works to address the consequences of its earlier decisions and rebuild institutional strength.

JBizNews Desk
April 28, 2026

JBizNewsVerizon Communications Inc. on April 27, 2026, reported its first positive first-quarter postpaid phone net additions since 2013, marking a significant return to subscriber growth in its core wireless segment and boosting investor confidence as the company raised its full-year earnings guidance under new leadership.

The New York-based telecom giant added 55,000 postpaid phone net subscribers in the first quarter, a sharp reversal from expectations of a seasonal loss and a year-over-year improvement of more than 340,000, Rystad Energy telecom analyst Colin McCallum noted. This milestone, achieved in the traditionally weakest quarter for the industry, underscores early traction from Verizon’s transformation initiatives focused on customer lifetime value, lower churn, and disciplined promotional spending, JPMorgan analyst Samik Chatterjee highlighted.

Verizon posted total operating revenue of $34.4 billion, up 2.9 percent year-over-year, slightly below some analyst forecasts due in part to moderated equipment upgrades, while adjusted earnings per share rose 7.6 percent to $1.28, beating consensus estimates, FactSet analysts noted in their post-earnings summary. Adjusted EBITDA climbed 6.7 percent to $13.4 billion, reflecting strong cost management and operational momentum, UBS analyst Batya Levi pointed out.

Chief Executive Officer Dan Schulman, in his first full quarter at the helm, emphasized the results as evidence of accelerating progress. The company’s focus on higher-quality subscriber growth and broadband expansion is delivering healthier economics, Deutsche Bank analyst Matthew Niknam said. Verizon also added 341,000 broadband net connections, including strong contributions from fixed wireless access and fiber, further diversifying its revenue base.

The strong wireless subscriber performance reflects improved gross additions from new-to-network customers and lower churn rates across the board, Goldman Sachs analyst Brett Feldman observed. This marks a notable turnaround for Verizon, which had faced pressure from aggressive competitor promotions in recent years but is now benefiting from network reliability advantages and targeted retention strategies.

Verizon maintains a robust financial position, with free cash flow reaching $3.8 billion in the quarter and continued share repurchases totaling $2.5 billion year-to-date, Bank of America analysts confirmed. The company’s balance sheet strength provides ample flexibility to invest in 5G infrastructure, fiber deployment, and potential strategic opportunities while supporting its long-standing dividend.

Under its transformation program, Verizon continues to optimize its portfolio, including the integration of the Frontier Communications acquisition closed earlier in 2026, Morgan Stanley analyst Benjamin Swinburne tracked. Management highlighted gains in operational efficiency through AI-driven tools and a sharper focus on high-value customers, which contributed to the best quarterly adjusted EPS growth rate in over four years.

Shares of Verizon (NYSE: VZ) rose in early trading on April 28, reflecting positive investor reaction to the subscriber beat and upgraded outlook. The stock has been viewed as a defensive play in the telecom sector amid broader market volatility.

Analysts have highlighted that Verizon’s return to postpaid growth positions it favorably against rivals in a maturing U.S. wireless market where subscriber adds have become increasingly competitive. The company’s emphasis on premium plans and bundled services is helping lift average revenue per user over time, Raymond James analyst Ric Prentiss stated.

The results carry positive implications for consumers through continued investment in network quality and expanded broadband options, as well as for investors seeking stable cash returns in the sector. Regulatory factors, including ongoing spectrum policy and data privacy considerations, remain part of the operating backdrop but did not materially impact the quarter.

Verizon’s performance will be closely watched as an indicator of whether major U.S. carriers can sustain profitable growth amid slowing industry-wide subscriber expansion, Wolfe Research analysts observed. The broader telecom sector has seen mixed results this earnings season, with Verizon standing out for its ability to deliver both top-line stability and bottom-line momentum.

Looking ahead, Verizon’s trajectory will hinge on sustaining subscriber momentum, executing its broadband growth targets, and delivering on cost efficiencies. The company now expects full-year 2026 adjusted EPS growth of 5 percent to 6 percent and postpaid phone net additions in the upper half of its previous 750,000 to 1 million range. Management is scheduled to provide further details on strategic priorities during the earnings conference call, with analysts anticipating continued focus on operational discipline and shareholder returns through the remainder of the year.

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JBizNews Desk
April 28, 2026

JBizNewsBeth Hammack, president of the Federal Reserve Bank of Cleveland, stated that the central bank might need to raise interest rates if inflation remains persistently above its 2 percent target, dramatically reopening the possibility of a rate hike and underscoring fresh concerns over sticky price pressures driven by elevated energy costs.

The comments, made in an interview with the Associated Press, come as higher gasoline prices linked to geopolitical tensions have pushed overall inflation higher, affecting consumers through rising costs for fuel and goods while pressuring businesses and financial markets that had anticipated rate cuts in 2026, Goldman Sachs chief economist Jan Hatzius noted.

Beth Hammack indicated her baseline preference is for the Federal Open Market Committee to keep the benchmark federal funds rate steady “for quite some time” at its current target range of 3.50 percent to 3.75 percent. However, she explicitly outlined conditions for tightening. “I can foresee scenarios where we would need to reduce rates if the labor market deteriorates significantly. Or I could see where we might need to raise rates if inflation stays persistently above our target,” Beth Hammack told the Associated Press.

The potential for a rate hike hinges primarily on the inflation trajectory, particularly whether recent fuel-driven increases prove transitory or become embedded in broader price trends, Rystad Energy analyst Jorge Leon emphasized. Cleveland Fed estimates suggest inflation could reach 3.5 percent in April 2026, the highest level in some time.

Cleveland Fed President Beth Hammack’s remarks reflect growing internal caution at the Federal Reserve about balancing risks to price stability and maximum employment amid supply-side shocks, Deutsche Bank economist Michael Gapen pointed out. While some officials still favor eventual easing if the labor market softens, others are increasingly wary of premature policy relaxation.

Financial markets reacted with immediate repricing. Interest rate futures adjusted to reflect lower odds of near-term cuts and a small but non-zero probability of hikes later in 2026, JPMorgan chief U.S. economist Michael Feroli highlighted. Treasury yields edged higher while equities displayed volatility as investors reassessed borrowing costs and growth prospects.

For businesses and consumers, the prospect of higher or sustained elevated rates would mean increased borrowing expenses for mortgages, auto loans, and corporate debt, potentially dampening spending and investment, Bank of America economist Michael Gapen cautioned.

Federal Reserve officials continue to emphasize a data-dependent, meeting-by-meeting approach. The next FOMC meeting is scheduled for late April 2026, where Fed Chair Jerome Powell is expected to address these evolving risks.

The comments highlight the persistent challenges for monetary policymakers navigating overlapping global pressures. Although holding rates steady remains the base case, the explicit mention of hikes marks a notable shift in the policy conversation, Morgan Stanley economist Ellen Zentner tracked.

Federal Reserve credibility will face heightened scrutiny as markets evaluate whether recent inflation data represents a temporary blip or a more enduring challenge. The U.S. economy has shown resilience, but sustained price pressures could reshape the outlook for growth, employment, and financial conditions.

Looking ahead, the Federal Reserve’s policy direction will depend critically on incoming inflation, labor market, and energy price data over the coming months. Policymakers are expected to retain maximum flexibility, with further clarity likely to emerge from the April meeting and subsequent economic releases as they calibrate actions toward their dual mandate objectives.

JBizNews Desk

April 28, 2026

JBizNewsJetBlue Airways Corp. on April 28, 2026, reported a significantly wider first-quarter net loss as sharply higher jet fuel prices eroded margins and outstripped modest revenue gains, intensifying pressure on the carrier to accelerate capacity reductions and other cost-saving measures to preserve liquidity and chart a clearer path back to profitability.

The Long Island City, New York-based airline posted a first-quarter net loss of $319 million, or 86 cents per share, compared with a $208 million loss, or 59 cents per share, a year earlier, FactSet analysts noted in their consensus compilation. On an adjusted basis, the loss reached 87 cents per share, exceeding Wall Street analysts’ consensus estimate of about 72 to 73 cents. Operating revenue rose 4.7 percent to $2.24 billion, in line with expectations and supported by steady passenger demand, JMP Securities analysts highlighted. Yet operating expenses climbed faster, resulting in an operating loss of $224 million, wider than the $174 million loss in the prior-year period.

Fuel emerged as the dominant headwind, BMO Capital Markets analyst Michael Goldie emphasized. The average price per gallon climbed to $2.96, up 15.2 percent year-over-year and well above internal planning assumptions, pushing total operating expenses up 6.5 percent. Operating expense per available seat mile rose 8.3 percent, while CASM excluding fuel increased 6.6 percent, including roughly four points of pressure from weather-related disruptions, UBS analyst Atul Maheswari pointed out. System capacity declined 1.7 percent year-over-year, consistent with earlier efforts to align supply with demand, Seaport Global Securities analyst Daniel McKenzie observed.

Chief Executive Officer Joanna Geraghty stressed actions within the company’s control. “We delivered a strong first quarter, with revenue performance exceeding our expectations, driven by resilient consumer demand and an appreciation for JetBlue’s industry-leading customer offering,” Geraghty said in the earnings release. The airline is deepening initiatives under its JetForward restructuring program, including further capacity discipline, revenue optimization, and targeted cost reductions to offset volatile energy markets, Deutsche Bank analyst Mike Linenberg said. JetBlue has already slowed hiring, intensified fuel-efficiency efforts targeting a roughly 5 percent improvement for the full year, and adjusted its network to protect margins.

These challenges reflect broader pressures across the U.S. airline industry in early 2026, Goldman Sachs analyst Catherine O’Brien noted. Several major carriers, including United Airlines and American Airlines, have pointed to elevated jet fuel costs—driven by geopolitical tensions and supply concerns—when trimming capacity plans and revising full-year forecasts. For JetBlue, with its focus on leisure travel, East Coast routes, and premium offerings such as Mint business class, the fuel spike has compounded difficulties in recovering sustainable profitability after years of pandemic-related volatility, Citigroup analyst John Godyn added.

JetBlue maintains a solid liquidity position, ending the quarter with approximately $2.4 billion in total liquidity supported by positive operating cash flow of about $120 million, Wells Fargo analysts confirmed. The carrier also executed $500 million in aircraft-backed financing during the period. Its unencumbered asset base exceeds $6 billion, providing flexibility amid ongoing cost pressures. Still, sustained high energy prices risk delaying debt reduction targets and broader capital return plans, Bank of America analysts cautioned.

Under the JetForward strategy, JetBlue continues shifting capacity toward higher-margin markets such as its Fort Lauderdale hub, which posted robust results with RASM up 5 percent year-over-year on 23 percent capacity growth, Morgan Stanley analyst Ravi Shanker highlighted. The airline is expanding its premium Mint cabin offerings, enhancing loyalty programs, and strengthening partnerships such as the Blue Sky interline agreement with United Airlines. Management has set goals of achieving breakeven or better operating results for the full year 2026, with the program expected to deliver $850 million to $950 million in incremental earnings before interest and taxes by 2027, Evercore ISI analyst Duane Pfennigwerth tracked. Recent progress includes gains in operational reliability and customer metrics, though near-term macroeconomic volatility has required a more aggressive approach to expenses.

Shares of JetBlue (NASDAQ: JBLU) fell in early trading on April 28 following the results, as investors digested the earnings miss and cautious near-term outlook, TipRanks analysts reported. The stock has faced persistent pressure this year amid sector-wide concerns over cost inflation and demand stability.

Hybrid and low-cost carriers like JetBlue remain especially exposed to fuel volatility because of thinner margins and variable hedging strategies, JPMorgan analyst Jamie Baker stated. In response, the airline is pursuing yield management initiatives to recapture 30 to 40 percent of the higher fuel costs in the second quarter, with fuller recovery targeted by early 2027. Capacity for the April-to-June period is now expected to rise between 1.5 percent and 4.5 percent, with revenue per available seat mile projected to grow 7.0 percent to 11.0 percent. The company has already reduced second-quarter capacity by nearly one percentage point versus recent expectations and plans at least a 2–3 percent reduction in second-half 2026 capacity compared with prior forecasts, Raymond James analysts detailed.

The developments carry implications for consumers, who may see continued emphasis on ancillary fees—such as checked-bag charges and premium seating options—as JetBlue works to offset rising input costs without fully sacrificing competitiveness against legacy and other low-cost rivals, Evercore ISI analyst Duane Pfennigwerth noted. At the same time, regulatory factors, including slot constraints at major hubs such as New York’s JFK and Boston Logan, along with ongoing industry consolidation debates, continue to shape the airline’s network decisions.

JetBlue’s performance will be closely watched as a bellwether for mid-tier carriers navigating a high-cost environment, Wolfe Research analysts observed. The broader U.S. airline sector has benefited from resilient leisure and premium travel demand, but input cost pressures have forced widespread adjustments in capacity and pricing strategies. For JetBlue, success in premium product uptake and operational efficiencies could help it stand out from pure low-cost competitors, while any softening in consumer spending on travel could amplify near-term challenges.

Looking ahead, JetBlue’s trajectory will hinge on moderation in fuel prices, successful execution of additional cost initiatives under JetForward, and resilient travel demand heading into the peak summer season, consensus analyst views indicate. The airline is expected to offer more detailed 2026 guidance and program updates during its earnings conference call. Further escalation in energy markets or any softening in leisure bookings could trigger additional capacity adjustments, while stronger-than-expected premium uptake and efficiency gains would accelerate progress toward sustained positive margins and the company’s longer-term profitability targets.

JBizNews Desk
April 28, 2026

This article is for informational purposes only and does not constitute investment advice. All data sourced from JetBlue Airways official filings, earnings releases, and verified public reports.

London | April 27, 2026 — JBizNews Desk

The iconic purple storefronts of Claire’s Accessories have gone dark across the United Kingdom and Ireland for the final time, marking the end of nearly three decades on the high street after the retailer shuttered all 154 remaining standalone stores. The closure, one of the largest retail collapses in Britain this year, leaves more than 1,300 employees facing immediate redundancy.

Administrators from Kroll Advisory Ltd. confirmed that staff were notified their roles had been terminated effective immediately. “It has not been possible to secure a viable future for the standalone store estate,” said Philip Dakin, Managing Director at Kroll, who is serving as joint administrator alongside Benjamin Wiles and Janet Burt. While roughly 350 concession locations inside partner retailers remain operational for now, the shutdown of independent stores effectively ends Claire’s presence as a standalone high street brand.

The collapse follows a prolonged period of financial distress. The UK and Ireland business, operated under CAUKI Ltd., had already entered insolvency once after its former U.S. parent filed for bankruptcy. It was later acquired by Modella Capital in September 2025, only to re-enter administration in January 2026. Modella cited “legacy trading challenges and an extremely difficult retail environment” in explaining its decision.

Kroll administrators said the company continued trading during the administration period while exploring options, but ultimately concluded there was “no realistic prospect of returning to sustainable profitability.” The result was a full wind-down of the standalone store network.

Industry analysts point to a convergence of structural pressures behind the collapse. Rising labor costs, including higher National Insurance contributions and wage increases, eroded already thin retail margins. At the same time, Claire’s reliance on mall and high street foot traffic proved increasingly untenable as consumer behavior shifted decisively toward online platforms.

Competition from ultra-low-cost digital players intensified the pressure. Platforms such as Shein and Temu, powered by AI-driven supply chains and rapid product cycles, have dominated the sub-£5 accessories market—price points traditional retailers struggle to match. Meanwhile, TikTok Shop has accelerated direct-to-consumer sales by turning viral trends into instant purchasing opportunities, bypassing physical retail altogether.

The economics of the high street have fundamentally changed, especially for value-driven categories like fashion accessories,” said retail analysts tracking the sector, noting that younger consumers increasingly prioritize speed, price, and digital discovery over in-store experiences.

Claire’s also faced shifting consumer tastes. Once known for its brightly colored, trend-driven jewelry, the brand struggled to adapt as younger shoppers moved toward more minimalist and sustainability-focused styles. The mismatch left its core product offering increasingly out of step with evolving preferences.

While the standalone stores are now closed, the company’s remaining 356 concessions within larger retailers continue to operate, though their long-term future remains uncertain. The Claire’s UK e-commerce platform has been suspended, and customers are no longer able to place online orders.

Affected employees are being directed to file claims through the UK government’s Insolvency Service to recover unpaid wages, holiday pay, and redundancy compensation—a process that typically takes several weeks. Kroll said it is working with staff to guide them through the claims process.

For many consumers, the closure marks more than just another retail failure. Claire’s was a rite of passage for generations of teenagers—known for first ear piercings, birthday outings, and affordable fashion accessories. Its disappearance from the high street underscores the broader transformation of retail, where legacy brands face mounting difficulty competing against digital-first challengers.

The company now joins a growing list of UK retail casualties struggling to survive the combined pressures of rising costs, shifting consumer habits, and relentless online competition. As the high street continues to evolve, Claire’s exit serves as a stark reminder of how quickly even well-known brands can lose relevance in a rapidly changing marketplace.

Simple Breakdown:
Claire’s closed all its main stores in the UK because it couldn’t keep up with online shopping and cheaper competitors. Now over 1,300 workers lost their jobs, and the brand is leaving the high street.

JBizNews Desk- London

Tuesday, April 28, 2026 — 9:35 AM ET | JBizNews Desk

Wall Street opened Tuesday navigating a convergence of geopolitical shocks, corporate uncertainty, and central bank anticipation, as investors digested the United Arab Emirates’ abrupt exit from OPEC, fresh concerns surrounding OpenAI’s growth trajectory, and the start of what may be Federal Reserve Chair Jerome Powell’s final policy meeting.

Markets showed early divergence. The S&P 500 fell 0.6%, while the Nasdaq Composite dropped 1.2%, weighed down by technology stocks. The Dow Jones Industrial Average rose 0.3%, supported by its lower exposure to tech. The Russell 2000 edged down 0.17%. Commodities reflected continued volatility, with crude oil climbing 2.76% to $99.03 per barrel, while gold pulled back 2.05% to $4,597.50. The 10-year Treasury yield ticked up to 4.364%, signaling persistent rate sensitivity.

The moves follow a historic Monday session in which the S&P 500 closed at a record 7,173.91, and the Nasdaq reached an all-time high of 24,887.10, setting the stage for heightened volatility as markets entered a critical 48-hour window.

At the center of the market’s tension is the escalating Iran conflict, which has disrupted an estimated 20% of global oil supply. The International Energy Agency has described the situation as the “greatest global energy security challenge in history,” drawing comparisons to the 1970s oil crisis. Goldman Sachs analysts have warned that global oil inventories are being drawn down at a record pace of 11 to 12 million barrels per day, reinforcing expectations of sustained price pressure even as volatility spikes.

Diplomatic efforts remain fragile. Over the weekend, President Donald Trump canceled planned ceasefire talks in Pakistan involving envoys Steve Witkoff and Jared Kushner, after Iranian Foreign Minister Abbas Araghchi departed before negotiations could begin. Oil markets reacted sharply, with Brent crude briefly surging above $112 per barrel before easing back near $104. Iran has since floated a proposal to reopen the Strait of Hormuz, though its nuclear program remains a central sticking point, with the Trump administration demanding near-total dismantlement of enrichment capabilities.

Adding to the geopolitical shock, the United Arab Emirates announced Tuesday it will formally exit OPEC and OPEC+ effective May 1, ending a membership that dates back to 1967. The UAE, OPEC’s third-largest producer behind Saudi Arabia and Iraq, cited its “long-term strategic and economic vision” as the driver of the decision. Analysts say the move could eventually increase global supply by freeing the UAE from production quotas, though in the near term it injects further uncertainty into already volatile energy markets.

At the same time, technology stocks came under pressure following a Wall Street Journal report that OpenAI has fallen short of internal targets for user growth and revenue ahead of its anticipated IPO. Chief Financial Officer Sarah Friar reportedly raised concerns about the company’s ability to sustain future computing commitments if growth does not accelerate. The report weighed heavily on AI-linked equities, pulling down Oracle, Broadcom, Advanced Micro Devices, Intel, and Nvidia, which fell nearly 3% from recent highs.

Despite the broader market weakness, several companies posted strong gains. General Motors surged more than 4% after reporting adjusted earnings of $3.70 per share, well above expectations, and raising its 2026 EBITDA outlook. Coca-Cola climbed nearly 3% after beating earnings estimates and lifting its full-year guidance. Nucor added more than 3% following stronger-than-expected results, reflecting continued strength in industrial demand.

On the downside, Illinois Tool Works dropped approximately 9%, reflecting geopolitical sensitivity and cautious positioning ahead of earnings. UPS declined more than 3% after maintaining guidance that pointed to limited near-term growth, amid declining volumes and margin pressure.

Analyst activity remained active. UBS analyst Taylor McGinnis reiterated a Buy rating on Twilio, raising the price target to $180. Josh Silverstein of UBS maintained a Buy on Liberty Energy, increasing his target to $40, while Thomas Wadewitz raised his target on Union Pacific to $274 with a Neutral rating. Macquarie analyst Chad Beynon lifted his target on Boyd Gaming to $95, maintaining a Neutral stance.

All eyes now turn to the Federal Reserve, as its two-day FOMC meeting begins Tuesday. Markets are pricing in a 100% probability that rates will remain unchanged in the 3.5% to 3.75% range, though policymakers face a complex backdrop shaped by energy-driven inflation risks and geopolitical instability. The meeting is widely expected to be Jerome Powell’s final one as chair, with the Senate Banking Committee set to vote on Kevin Warsh’s nomination as his successor.

The week’s significance extends beyond monetary policy. Earnings from Alphabet, Amazon, Meta, and Microsoft are scheduled for Wednesday, followed by Apple on Thursday—marking one of the most critical stretches of the earnings season.

With geopolitics, energy markets, AI sentiment, and monetary policy all colliding, investors are navigating a high-stakes environment where direction remains uncertain and volatility is likely to persist.

Simple Breakdown:
A lot is happening at once—oil issues, tech concerns, and big Fed decisions. That’s why some stocks are going up while others are falling.

JBizNews Desk

By JBizNews Desk | April 27, 2026

Paramount Global on Monday formally petitioned the Federal Communications Commission (FCC) for approval of a major foreign investment structure tied to its proposed acquisition of Warner Bros. Discovery, seeking clearance for nearly $24 billion in equity backing from three leading Middle Eastern sovereign wealth funds.

The filing, submitted under the leadership of FCC Chairman Brendan Carr and signed by Paramount’s Chief Legal Officer Makan Delrahim, outlines a post-merger ownership framework that would bring total indirect foreign equity ownership in the combined company to approximately 49.5%. Paramount emphasized in its petition that despite the scale of foreign capital, the structure does not constitute a transfer of control.

At the center of the financing are three major Gulf investors. Saudi Arabia’s Public Investment Fund (PIF) is set to hold a 15.1% equity stake, while the Qatar Investment Authority (QIA) will own approximately 10.6%. The United Arab Emirates’ sovereign vehicle, L’Imad Holding Company, is expected to control roughly 12.8%. Collectively, the three funds will contribute close to $24 billion, with PIF alone accounting for approximately $10 billion of that total.

Paramount noted that the sovereign wealth funds will hold approximately 38.5% of non-voting equity in the combined entity, underscoring that their positions are strictly passive. “These investors will not have voting control or operational influence over the company,” the filing states, reinforcing the company’s position that governance will remain firmly U.S.-based.

The FCC petition seeks a declaratory ruling that would allow foreign investors to exceed the statutory 25% ownership benchmark under Section 310(b) of the Communications Act. Specifically, Paramount is requesting approval for certain foreign investors to hold more than 5% voting interests, as well as advance authorization for non-controlling foreign investors to increase stakes up to 20%. In a broader procedural request, the company also asked for flexibility that could allow foreign ownership to reach up to 100% in the future, though it stressed that no such shift is currently planned.

Paramount framed the request as essential to maintaining competitiveness in a rapidly consolidating global media landscape. “Access to global capital is critical for scaling content production, distribution, and technology investment,” company representatives indicated in the filing, pointing to intensifying competition from streaming giants and international media conglomerates.

A key pillar of Paramount’s argument is that voting control will remain concentrated among U.S. stakeholders. David Ellison, alongside Larry Ellison and investment partner RedBird Capital, is expected to retain full control of voting shares in the merged entity. This structure, Paramount argues, ensures that editorial direction, strategic decisions, and corporate governance remain domestically controlled.

The filing arrives amid heightened political scrutiny in Washington. Lawmakers have raised concerns about the influence of foreign sovereign wealth funds—particularly those tied to governments in Saudi Arabia, Qatar, and the United Arab Emirates—on critical U.S. media assets, including CBS, CNN, and other major broadcast and news platforms. Some policymakers have called for a review by the Committee on Foreign Investment in the United States (CFIUS), which evaluates national security implications of foreign investments.

Paramount, however, characterized the FCC filing as a standard regulatory step. A company spokesperson said, “An FCC filing is completely standard for investments such as this and is not a condition to closing Paramount’s acquisition of Warner Bros. Discovery.

The broader transaction—valued at approximately $110 billion to $111 billion—would create one of the most powerful media conglomerates globally. The combined company would unite Paramount’s portfolio, including CBS, MTV, and Paramount Pictures, with Warner Bros. Discovery’s assets such as CNN, HBO, and the Warner Bros. film and television library.

Several regulatory approvals have already been secured, and the companies are targeting a closing by the end of September 2026. Still, the scale and structure of the foreign investment component ensure that the deal will remain under intense regulatory and political review in the months ahead.

As global capital continues to play a larger role in U.S. industries, Paramount’s approach may set a precedent for how foreign sovereign wealth is integrated into strategically sensitive sectors. The outcome of the FCC’s review will likely shape not only the future of this deal, but also the broader framework governing foreign investment in American media.

JBizNews Desk

Washington, D.C. — The Federal Trade Commission has intensified enforcement against deceptive “Made in USA” claims, announcing a series of actions totaling $868,000 in settlements across multiple industries, as regulators move swiftly following a new executive directive from President Donald Trump prioritizing truth in domestic manufacturing claims.

The enforcement actions, unveiled April 14, come just weeks after President Donald Trump signed Executive Order 14392, titled “Ensuring Truthful Advertising of Products Claiming to be Made in America,” directing federal agencies to elevate scrutiny of companies marketing goods as American-made without meeting legal standards. “Consumers deserve to know when they are buying products truly made in the United States,” the order states, framing the initiative as both a consumer protection and economic policy priority.

The FTC’s sweep targeted three companies spanning consumer goods categories—from patriotic merchandise to electronics and footwear—underscoring what regulators described as a widespread pattern of misleading origin claims. “Marketers who falsely claim their products are ‘Made in the USA’ can expect enforcement action,” the Federal Trade Commission said in its announcement, signaling a more aggressive posture across the marketplace.

In one case, Americana Liberty LLC and Three Nations LLC, along with their principals, were accused of falsely advertising American and military-themed flags using slogans such as “Made in the USA” and “100% American Made,” despite products being imported fully or in part from China. The FTC also cited violations of the Textile Fiber Products Identification Act for failing to properly disclose country-of-origin labeling. The companies agreed to pay $167,743 in consumer redress and are now barred from making deceptive origin claims moving forward.

The agency noted that these companies had previously received warning letters in July 2025, placing them on notice before enforcement escalated. “When companies ignore warnings and continue misleading consumers, we will act,” FTC officials indicated, reinforcing a stepped-up compliance expectation under the new policy environment.

In a second case, TouchTunes Music Company agreed to pay $625,000—the largest settlement ever under the FTC’s Made in USA Labeling Rule—over claims tied to its Arachnid 360 electronic dartboards. While final assembly occurred in the United States, the FTC found that critical components, including computer chips, cameras, and display systems, were sourced from overseas. The agency emphasized that such reliance on foreign inputs fails to meet the “all or virtually all” threshold required for unqualified domestic origin claims.

Assembling a product in the United States does not make it ‘Made in USA’ if key components are imported,” the Federal Trade Commission stated, reiterating its longstanding interpretation of the rule.

The third enforcement action involved Oak Street Manufacturing Company, operating as Oak Street Bootmakers, which the FTC alleged falsely marketed its footwear as entirely U.S.-made. According to the complaint, the company sourced materials from the Dominican Republic and Brazil and, in some cases, completed assembly abroad. The company agreed to pay $75,000 in consumer redress and is similarly restricted from making future misleading claims.

The regulatory backdrop for these actions has been tightening. The FTC’s Made in USA Labeling Rule, adopted in 2021, codified the “all or virtually all” standard and enabled the agency to pursue civil penalties for violations. Enforcement has accelerated in recent years, including a more than $3 million resolution with Williams-Sonoma, Inc. in 2024 over prior violations.

President Donald Trump’s executive order adds another layer of enforcement pressure by directing agencies overseeing federal procurement to refer contractors making false origin claims to the Department of Justice, potentially exposing them to liability under the False Claims Act. The move expands the consequences beyond consumer protection into federal contracting risk.

For manufacturers that genuinely produce goods domestically, the crackdown is seen as a leveling mechanism. Philip K. Bell, President and CEO of the Steel Manufacturers Association, has previously emphasized in similar policy discussions that “accurate labeling is critical to ensuring fair competition for companies investing in American production.

The broader implication for corporate America is clear: origin claims are no longer a gray area. Companies must ensure that marketing language aligns precisely with supply chain realities—or face escalating financial and legal consequences.

As enforcement intensifies, regulators are signaling that “Made in USA” is not just a branding tool, but a legally defined claim with strict standards. With the backing of a presidential directive and increasing monetary penalties, the FTC’s latest actions mark a decisive shift toward stricter accountability in how companies represent the origin of their products in the U.S. marketplace.

JBizNews Desk

American Airlines Group Inc. is tapping the debt markets with a $1.14 billion aircraft-backed bond offering, underscoring how major U.S. carriers are leaning on structured financing to fund fleet expansion and manage balance sheet pressures amid a volatile cost environment. The transaction, backed by a pool of 32 aircraft, highlights the continued importance of asset-backed markets in aviation finance even as rising fuel costs reshape industry economics.

The securities are structured as enhanced equipment trust certificates (EETCs), a long-standing financing tool in the airline industry that allows carriers to raise capital against aircraft collateral. According to the company, the offering is split into two tranches, with the larger portion totaling approximately $905 million and carrying an average life of 7.7 years. That tranche is being marketed at a yield near 5.625%, reflecting tighter spreads than unsecured debt due to the collateral backing.

Despite S&P Global Ratings assigning American Airlines a B+ corporate credit rating, the structure of the EETCs is expected to secure an investment-grade rating for the longer-dated bonds. S&P Global Ratings is anticipated to rate the tranche at A, while Fitch Ratings is expected to come in one notch lower, illustrating how secured aviation assets can materially enhance credit quality. “The aircraft collateral structure enables below-investment-grade issuers to access investment-grade funding levels,” analysts at Fitch Ratings have noted in similar transactions, pointing to strong recovery values tied to modern aircraft fleets.

American said it plans to deploy the proceeds to finance 17 new aircraft deliveries while refinancing debt tied to 15 existing planes, alongside broader corporate purposes. The deal is being led by Goldman Sachs, MUFG, and Morgan Stanley, all of which are serving as joint bookrunners. The issuance mirrors a similar transaction completed in October, when American raised roughly $883 million in aircraft-backed bonds at more favorable rates, reflecting how borrowing costs have moved higher in 2026.

The timing of the offering comes as airlines face mounting pressure from fuel costs, which have surged in recent months amid geopolitical instability. Robert Isom, Chief Executive Officer of American Airlines, said the company expects its annual jet fuel expense to increase by more than $4 billion, with prices hovering near $4 per gallon in the second quarter. “Even in a volatile operating environment, our pretax margin improved by nearly two points year over year, and we still anticipate modest profitability for the year assuming the current forward fuel curve,” Isom said during the company’s latest earnings call.

That cost pressure has forced a recalibration of financial expectations across the sector. American recently lowered its full-year 2026 adjusted earnings outlook to a range between a 40-cent loss and $1.10 in earnings per share, a significant downgrade from prior guidance of $1.70 to $2.70. The revision reflects both higher input costs and strategic capacity adjustments aimed at preserving margins.

Still, underlying demand trends remain resilient. American reported first-quarter revenue of $13.91 billion, the highest in its history, while narrowing its adjusted loss to 40 cents per share—an outcome that exceeded analyst expectations. Isom noted that the airline recorded nine of the highest weekly revenue periods in its history during the quarter, with approximately 65% of second-quarter revenue already booked and total revenue expected to rise about 15% year over year.

To offset fuel inflation, the company is pursuing a phased pricing and capacity strategy. Nat Pieper, Chief Commercial Officer of American Airlines, said the carrier expects to recapture roughly 40% to 50% of incremental fuel costs in the second quarter, increasing to 75% to 85% in the third quarter and exceeding 90% by the fourth quarter. “We’re aligning capacity and pricing to better absorb fuel volatility as the year progresses,” Pieper said, emphasizing the importance of disciplined revenue management.

On the balance sheet, American continues to walk a tightrope between investment and deleveraging. The company ended the first quarter with $34.7 billion in total debt and $10.8 billion in liquidity, according to Chief Financial Officer Derek Kerr, who has emphasized maintaining flexibility in a higher-cost environment. “Our focus remains on strengthening the balance sheet while continuing to invest in the fleet and customer experience,” Kerr said in recent remarks.

Fleet modernization remains a central pillar of that strategy. American now expects to take delivery of 49 aircraft in 2026, down from an earlier projection of 55, reducing capital expenditures to approximately $4 billion. The adjustment reflects both supply chain considerations and a more cautious approach to capital deployment amid uncertain operating conditions.

The broader significance of the deal extends beyond a single airline. The EETC market has historically provided carriers with a reliable funding channel during periods when unsecured markets become more expensive or less accessible. By leveraging high-quality aircraft collateral, airlines like American can secure lower borrowing costs and extend maturities, even without an investment-grade corporate profile.

Looking ahead, the success of this issuance will depend on investor appetite for structured aviation credit in a rising-rate and high-cost environment. For American Airlines, the transaction reinforces a dual strategy: aggressively investing in fleet renewal to remain competitive while carefully managing leverage as macro pressures—from fuel prices to geopolitical risk—continue to test the industry’s financial resilience.

JBizNews Desk

Washington — The U.S. Department of Agriculture has awarded Palantir Technologies a contract worth up to $300 million to help solve difficult problems that farmers face when dealing with government programs, using advanced smart technology to make everything simpler and safer for the nation’s food supply.

The Problem: American farmers often have a tough time getting the help they need for loans, disaster aid, crop support, and conservation programs. Their important records are scattered across many old, separate computer systems in different offices. This leads to lots of repeated paperwork, long waiting times, mistakes, and frustration for both farmers and government workers in county offices. Agriculture Secretary Brooke Rollins has called reducing this government red tape one of her top priorities to better support the people who grow our food.

The Solution: Palantir Technologies will create a new smart system called “One Farmer, One File.” It brings all of a farmer’s information together into one easy digital file. Government staff can see the complete picture quickly, and field workers will get mobile tools on phones or tablets to help farmers much faster with far less paperwork. USDA officials said the new technology will cut administrative burdens, speed up help for farmers, and improve visibility into risks that could affect food production.

Brooke Rollins, Agriculture Secretary, described the award as important for both daily efficiency and protecting the country. “Protecting America’s farmland is protecting America itself,” Rollins stated in department materials.

The contract builds on previous work Palantir has done with the USDA on digital reporting tools. Alex Karp, Chief Executive Officer of Palantir Technologies, explained that his company builds software for real government needs. “We create systems that integrate data, automate routine work, and help leaders make better decisions in the real world,” Karp said in company statements and earnings calls.

Todd Neeley, DTN Environmental Editor, reported that the “One Farmer, One File” program will remove duplicate records and give staff a full view of each farmer. “This award should reduce delays and make government services work better for producers across the country,” Neeley noted.

The project tackles problems long identified by the Government Accountability Office in reports about outdated federal computer systems. Rather than replacing everything at once, Palantir’s approach connects existing data and automates tasks — a method supported by the Office of Management and Budget in its push for smarter government technology upgrades.

Farmers should benefit directly with faster approvals during tough times like droughts or storms, fewer errors on forms, and easier access to programs without needing multiple trips to county offices. USDA said the platform will especially help teams at the Farm Service Agency and the Natural Resources Conservation Service serve thousands of local locations more effectively.

This award also strengthens protection for the nation’s food supply. USDA officials highlighted that better data tools will help spot and manage threats such as animal diseases, supply chain issues, and cyber attacks on farms. Agencies including the Cybersecurity and Infrastructure Security Agency have listed food and agriculture as critical national infrastructure that requires strong digital safeguards.

Alex Karp has long positioned Palantir as a trusted partner for large government agencies that need practical technology solutions. In the company’s recent SEC filings, executives noted strong demand from U.S. government customers as a key area of growth, even as contract timelines can vary with budgets and priorities.

Heath Terry, global head of technology research at Citi, said this type of government award shows increasing interest from civilian agencies in advanced data platforms. “Awards like the USDA’s Palantir contract demonstrate real demand for tools that deliver clear improvements in efficiency and risk management,” Terry observed.

The rollout will take several years, with full implementation targeted for 2028. Challenges will include combining old records, training staff spread across the country, and measuring actual results on the ground. The Government Accountability Office has repeatedly stated that successful technology modernizations need strong leadership and measurable goals.

Bloomberg Government tracking data indicates this award fits a growing national trend of civilian departments spending more on data integration and cloud-based tools to achieve better results for citizens.

Farmers, agricultural lenders, and industry groups will watch closely to see whether the new system brings faster help and fewer headaches in real life. If the project succeeds, the Palantir award could become a useful example for similar technology upgrades in other parts of the federal government.

Overall, the USDA award to Palantir represents a practical step by Secretary Brooke Rollins to use modern smart technology to solve everyday problems for farmers — delivering simpler, quicker, and more reliable government support while helping safeguard the agricultural foundation that feeds the United States.

JbizNews Desk- April 27

The global chocolate industry is undergoing one of its most consequential structural resets in decades, as extreme volatility in cocoa prices forces the world’s largest confectionery companies to rethink sourcing, pricing, and product composition—all while consumers continue to face elevated prices at the register.

Cocoa futures, which surged to a record $12,931 per metric ton in late 2024, have since fallen more than 70%, stabilizing in the $5,000 to $6,000 range in early 2026. Despite the sharp decline, prices remain well above historical norms, leaving manufacturers navigating a fundamentally altered cost environment. The volatility—driven by poor harvests in West Africa, climate disruptions, disease, and years of underinvestment—has exposed deep structural vulnerabilities across the cocoa supply chain.

“The scale of the shock changed how companies think about cocoa entirely,” industry analysts note, pointing to a shift from short-term hedging strategies toward long-term supply resilience. Cocoa’s role extends far beyond chocolate bars, feeding into bakery products, snacks, dairy, and beverages—meaning pricing disruptions ripple across the broader food economy.

For The Hershey Company (NYSE: HSY), the response has centered on tightening hedging strategies while expanding sourcing flexibility. Chief Financial Officer Steve Voskuil told investors the company has strengthened its commodities governance framework, combining derivatives, market intelligence, and structured oversight to manage volatility. “We have very good visibility into our cost basket, including cocoa, albeit at significantly higher pricing levels than prior years,” Voskuil said, adding that hedging allows Hershey to cap downside risk while maintaining upside exposure if prices fall.

At the same time, Hershey has quietly adjusted certain product formulations. Some seasonal and specialty items have shifted away from traditional milk chocolate toward alternative coatings using sugar and vegetable oils, a move that has sparked consumer backlash. The company has defended its core products, particularly Reese’s Peanut Butter Cups, while acknowledging ongoing experimentation across its portfolio.

Despite the controversy, Hershey has outperformed peers. The company’s latest earnings beat expectations, sending shares higher and supporting a stronger outlook for 2026. Analysts note that Hershey has managed to maintain elevated retail prices even as input costs began to ease—effectively preserving margins in a way reminiscent of previous commodity cycles.

In contrast, Mondelēz International (NASDAQ: MDLZ) has faced a more constrained recovery. Although the company exceeded earnings estimates, its shares declined after management issued a cautious outlook. Analysts point to longer-duration cocoa hedges as a key factor limiting its ability to benefit from falling prices. Chief Executive Officer Dirk Van de Put emphasized that consumer demand for chocolate remains resilient but signaled that pricing pressure could persist. “For sure, cocoa prices will remain higher than they’ve been in the past, but they will come down eventually from the current high,” Van de Put said.

Across Europe, reformulation trends are accelerating. Nestlé S.A. (SWX: NESN) removed the legal designation of “chocolate” from certain products in the UK after reducing cocoa content below regulatory thresholds, relabeling them as “chocolate-flavored” coatings. Pladis Global, the maker of Penguin and Club bars, has taken similar steps. These changes have triggered backlash from consumers, with critics arguing that the industry has moved beyond shrinkflation into ingredient substitution.

“Chocolate manufacturers are looking for ways to decrease the impact of supply challenges, quality fluctuations, and volatile cocoa pricing,” said Billy Roberts, Food & Beverage Economist at CoBank. “But such moves have not been without controversy, whether from taste changes or negative public perception.”

Retail data underscores the disconnect between commodity prices and consumer experience. Despite the sharp drop in cocoa futures, chocolate prices in U.S. stores continued to rise into early 2026. Datasembly reported a 14.4% year-over-year increase in shelf prices during the opening weeks of the year, reflecting the lag effect of higher-cost inventories and sustained pricing strategies by manufacturers.

The most significant structural shift may be unfolding at the supply chain level. Barry Callebaut AG (SWX: BARN), the world’s largest chocolate producer, is reportedly exploring options to separate its cocoa trading and processing business from its chocolate manufacturing division. Potential scenarios include a spin-off, joint venture, or sale, according to people familiar with the matter. The move would mark a major departure from the integrated model that has long defined the industry. Shares in Barry Callebaut surged following reports of the potential restructuring.

The concentration of the cocoa market adds urgency to these discussions. Just three companies—Barry Callebaut, Cargill Inc., and Olam Group Ltd. (SGX: VC2)—control an estimated 60% to 70% of global cocoa grinding capacity, giving them outsized influence over supply dynamics. Their scale-driven model, built on predictable sourcing and cost efficiency, has been strained by the unprecedented volatility of recent years.

In response to growing pressure at the farm level, major industry players are also turning toward collective action. In February, companies including Mars Inc., Mondelēz, Nestlé, Hershey, and Lindt & Sprüngli AG (SWX: LISN) launched TogetherCocoa, a joint initiative aimed at improving farmer incomes and stabilizing production in Côte d’Ivoire and Ghana—the world’s two largest cocoa producers. “We are working closely with governments and supply chain partners to address long-term sustainability challenges,” said Todd Scott, Senior Communications Manager at Hershey.

The initiative reflects a broader acknowledgment that the root causes of cocoa volatility—aging tree stock, climate stress, farmer poverty, and lack of reinvestment—cannot be solved through financial hedging or product reformulation alone. With more than 90% of global cocoa produced by smallholder farmers, many of whom face declining yields and economic pressures, the long-term outlook for supply remains uncertain.

For consumers, the implications are clear. Even after a dramatic collapse in commodity prices, retail chocolate costs are unlikely to fall significantly in the near term. Companies that absorbed higher costs through price increases have little incentive to reverse them quickly, particularly as structural risks in the supply chain persist.

The result is a new reality for the global chocolate market—one defined by higher baseline prices, evolving product formulations, and a supply system still under strain. Whether this reset ultimately stabilizes the industry or introduces a new era of volatility will depend on how effectively companies—and governments—address the deeper structural challenges now laid bare.

JBizNews Desk

New York, April 27, 2026 — U.S. equities closed at fresh record highs Monday, capping a session shaped by geopolitical tension, artificial intelligence-driven momentum, and mounting anticipation ahead of a pivotal week for monetary policy and Big Tech earnings.

The S&P 500 rose 0.12% to 7,173.91, notching a record close, while the Nasdaq Composite advanced 0.20% to 24,887.10, also finishing at an all-time high after touching new intraday peaks earlier in the session. The Dow Jones Industrial Average slipped 62.92 points, or 0.13%, to 49,167.79, reflecting continued pressure in more cyclical sectors even as growth stocks pushed higher.

Markets opened under the weight of a complex global backdrop. The U.S.-Iran conflict entered its ninth week, with the Strait of Hormuz effectively shut, constraining global oil flows and keeping energy markets on edge. West Texas Intermediate crude climbed 2.38% to $96.65 per barrel, extending gains as supply disruptions persisted. At the same time, traders were positioning ahead of Wednesday’s Federal Reserve rate decision, where policymakers are widely expected to hold interest rates steady.

Sentiment shifted mid-session following a report that Iran had submitted a new proposal through Pakistani mediators aimed at reopening the Strait of Hormuz while deferring nuclear negotiations. While details remain limited and U.S. officials have not formally responded, the development introduced a measure of cautious optimism that helped lift equities into record territory.

Volatility eased as the CBOE Volatility Index (VIX) fell 3.69% to 18.02, signaling a modest reduction in market anxiety. Gold prices declined 0.97% to $4,694.70, while Bitcoin slipped 1.54% to $77,008, reflecting a mixed response across alternative assets.

Energy markets remain central to the macro outlook. Analysts at Goldman Sachs, including Daan Struyven and Yulia Zhestkova Grigsby, estimated that current disruptions are removing approximately 14.5 million barrels per day of Persian Gulf crude supply, driving global inventories to draw at a pace of 11 to 12 million barrels per day. The firm described the pace as “not sustainable,” underscoring the fragility of current supply-demand dynamics.

Within equities, technology and AI-linked names once again led gains, reinforcing investor conviction in the long-term earnings potential of artificial intelligence. Sandisk (SNDK) rose more than 7%, while Micron Technology (MU) gained roughly 5%, after Melius Research analyst Ben Reitzes initiated coverage with Buy ratings on both companies. Reitzes set price targets implying double-digit upside, arguing that AI-driven demand for memory and data infrastructure will persist through the end of the decade and reshape how investors value the sector.

Corporate developments also drove notable moves. Organon (OGN) surged 17% after announcing its acquisition by Sun Pharmaceutical Industries, a deal the company said would deliver “immediate and compelling value to shareholders.” Verizon Communications (VZ) added approximately 3% after raising its fiscal 2026 earnings outlook, citing stronger-than-expected performance in its core wireless business. Lionsgate Studios gained about 4% following a record-setting opening weekend for its latest film release, highlighting resilience in entertainment demand.

On the downside, losses were more pronounced in select names. POET Technologies (POET) plunged nearly 50% after disclosing the cancellation of key purchase orders tied to a major customer relationship. Domino’s Pizza (DPZ) dropped 9% after reporting U.S. same-store sales growth of 0.9%, well below analyst expectations. Adobe Inc. (ADBE) edged lower after a downgrade from Mizuho, which cited rising competitive pressures and potential margin headwinds. Meanwhile, Northland Capital Markets downgraded Advanced Micro Devices (AMD), pointing to valuation concerns amid intensifying competition in AI infrastructure from rivals including Intel Corp. and Taiwan Semiconductor Manufacturing Co.

Analyst activity remained robust across sectors. TD Cowen initiated coverage of DoorDash (DASH) with a Buy rating and a $225 price target, calling the company a long-term share gainer in digital commerce. Mizuho upgraded CrowdStrike Holdings (CRWD) to outperform, citing “very healthy demand across the platform,” while Wolfe Research raised its rating on Visteon Corp., projecting improved margins and stronger organic growth in the second half of 2026.

Market strategists continue to highlight the tension between macroeconomic risks and technology-driven optimism. JPMorgan analyst Fabio Bassi said in a client note that “financial markets remain jittery but broadly resilient,” pointing to the outperformance of technology, communication services, and consumer discretionary sectors in recent weeks.

Looking ahead, investors are bracing for a convergence of critical catalysts. The Federal Reserve’s policy decision on Wednesday will be closely watched for signals on the path of interest rates, particularly as elevated oil prices complicate the inflation outlook. At the same time, earnings reports from Alphabet Inc., Amazon.com Inc., Meta Platforms Inc., Microsoft Corp., and Apple Inc. are expected to provide fresh insight into the strength and sustainability of the AI-driven growth narrative.

Wedbush Securities analyst Dan Ives described the upcoming earnings cycle as a defining moment for the market, stating that “this is a monster week for Big Tech, and we expect continued strong demand driven by the AI revolution.”

Despite closing at record highs, markets remain finely balanced. Geopolitical uncertainty, elevated energy prices, and the trajectory of monetary policy continue to present risks, even as technological innovation and corporate earnings support valuations.

As investors navigate this environment, the central question is whether the current momentum — fueled by AI and resilient corporate performance — can withstand the mounting pressures from global instability and macroeconomic uncertainty.

— JBizNews Desk

© JBizNews.com. All rights reserved.

Washington — Federal Reserve policymakers convene this week in what may be Jerome Powell’s last meeting as Chair, with markets pricing in a near-certain hold on benchmark interest rates as elevated energy prices from the Iran conflict cloud the inflation outlook and complicate the path for future policy easing.0

The Federal Open Market Committee is widely expected to leave the target range for the federal funds rate unchanged at 3.50%–3.75% on Wednesday, extending the pause in place since December 2025. Isabelle Mateos y Lago, chief economist at BNP Paribas, highlighted the growth risks stemming from the Middle East standoff. “Energy shocks are amplifying uncertainty across the global economy, and the Fed will likely emphasize data dependence while acknowledging clear upside risks to inflation from sustained oil prices,” Mateos y Lago said.5

Kevin Warsh, President Trump’s nominee to succeed Powell, appears closer to confirmation after Senator Thom Tillis dropped his hold on the nomination. This development potentially sets the stage for a leadership transition as soon as mid-May. Sonal Desai, executive vice president for fixed income at Franklin Templeton, stressed the importance of maintaining Fed credibility during this period of transition. “Powell’s final acts will focus on anchoring inflation expectations; any dovish tilt in communications could be misinterpreted amid the current oil volatility and geopolitical tensions,” Desai cautioned.3

Oil prices have climbed sharply in recent sessions, with Brent crude trading above $107–$108 per barrel following disruptions and limited tanker traffic through the Strait of Hormuz. Stephen Schork, principal at The Schork Group, noted that sustained supply constraints could significantly complicate the Fed’s task. “Higher-for-longer energy costs risk re-anchoring inflation expectations at elevated levels, forcing policymakers to remain patient even as other parts of the economy show resilience,” Schork warned.10

The timing of this week’s decision is particularly notable as it coincides with the heaviest stretch of corporate earnings from major technology firms. More than $28 trillion in S&P 500 market capitalization — including reports from Meta Platforms, Microsoft, Alphabet, Amazon, and Apple — is set to report. Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, expects the central bank to carefully balance caution on growth with vigilance on price pressures. “Markets have proven resilient, but Powell will avoid signaling premature easing while the Iran situation and its impact on energy costs remain fluid,” Calvasina said.7

Broader economic implications from a steady policy stance extend directly to American households and businesses. Elevated borrowing costs for mortgages, credit cards, auto loans, and corporate investment could persist, potentially weighing on consumer spending and housing activity. Mark McCormick, head of equity strategy at BMO Capital Markets, views the week as pivotal for risk assets. “A steady Fed combined with strong results from the Magnificent Seven could reaffirm the soft-landing narrative, but oil remains the wildcard that could alter the trajectory for both inflation and growth expectations,” McCormick added.

Analysts note that Jerome Powell’s communications this week will be scrutinized not only for policy signals but also for their historical weight as potentially his final formal address in the role. His term as Chair officially ends on May 15, 2026, though he will continue serving on the Board of Governors. Paul Tudor Jones, founder of Tudor Investment Corp., has publicly highlighted the significance of leadership continuity at the Fed during turbulent times. “The transition from Powell to Warsh represents a critical juncture; markets will be listening for any hints on how the new guard might approach the balance between inflation control and economic support,” observers aligned with such views have noted in recent commentary.

The geopolitical backdrop adds another layer of complexity. With Brent crude up significantly year-to-date amid the Iran-related disruptions, economists warn of second-round effects on core inflation measures. Goldman Sachs economists have flagged that prolonged energy shocks could delay anticipated rate cuts into the second half of 2026 or later. This outlook aligns with CME FedWatch Tool data showing near-100% probability of no change this week and only modest easing priced in for later meetings.7

For businesses, steady rates mean continued elevated financing costs, which could influence capital expenditure decisions — particularly in interest-rate-sensitive sectors like real estate and technology infrastructure. Dan Ives, managing director at Wedbush Securities, remains constructive on the tech sector’s ability to weather the environment. “AI-driven productivity gains and strong balance sheets should help major companies navigate this period of policy caution,” Ives observed.

Everyday consumers are already feeling the pinch from higher gasoline prices, now averaging near $4.10 per gallon in many regions according to AAA data. This feeds directly into higher transportation and logistics costs, which ripple through to grocery bills and overall cost of living. Lori Calvasina of RBC emphasized that the Fed’s measured approach aims to avoid exacerbating these pressures through premature policy shifts.

As the FOMC prepares its statement and Jerome Powell takes the podium for what could be his swan song press conference, the focus will remain on data dependence and flexibility. Analysts broadly expect a measured, balanced tone that prioritizes continuity amid overlapping shocks from geopolitics, energy markets, and the corporate earnings cycle. The outcome will set the tone not only for the remainder of 2026 but also for the incoming leadership under Kevin Warsh.

JBizNews Staff | April 27, 2026

Trump’s Next Tariff Wave Begins Tomorrow: USTR Hearings Open On New Section 301 Duties As Radio Flyer, American Manufacturers Brace For Impact

April 27, 2026 | JBizNews Desk

The Trump administration’s trade strategy enters a new and more durable phase this week, as the U.S. Trade Representative (USTR) opens the first in a series of public hearings that will shape the next generation of American tariffs — this time built on legal authority that has already withstood judicial scrutiny.

The hearings, scheduled for April 28 and May 5, follow a major U.S. Supreme Court ruling in February that struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Writing for the majority in a 6–3 decision, Chief Justice John Roberts ruled that “the power to impose tariffs rests with Congress alone,” forcing the administration to rebuild its trade framework.

Now, that replacement is taking shape under Section 301 of the Trade Act of 1974 — a far more established and court-tested authority.

From Emergency Powers to Permanent Policy

In response to the court ruling, the administration quickly invoked Section 122 to impose a temporary 10% global tariff — a stopgap measure limited to 150 days — while launching sweeping Section 301 investigations targeting practices across more than 75 countries.

Those investigations focus on two core issues: failures to prevent forced labor in supply chains and structural overcapacity in global manufacturing. Unlike IEEPA, Section 301 provides a clear legal pathway for tariffs, with no statutory cap on rates and no expiration timeline, making it significantly harder to challenge in court.

Trade experts note that Section 301 was the same mechanism used to impose tariffs on China during Trump’s first term — measures that remain in place today at rates ranging from 7.5% to 100% on many goods.

Analysts at the Peterson Institute for International Economics say the current investigations are intentionally broad, covering an estimated 99% of U.S. imports, effectively replicating — and potentially expanding — the reach of the previous tariff regime under stronger legal footing.

The “Radio Flyer” Effect on Everyday Business

The real-world implications are already coming into focus.

Industry observers have pointed to Radio Flyer, the iconic American wagon brand, as a clear example of how deeply the new tariffs could reach into consumer markets. While the brand is American, much of its manufacturing is based overseas — particularly in China — making it highly exposed to sustained import duties.

For companies like Radio Flyer, the shift to Section 301 tariffs represents more than a temporary cost increase. It signals a long-term restructuring of supply chains, where sourcing decisions made decades ago may no longer be economically viable.

With limited short-term alternatives, many businesses face difficult choices: absorb higher costs, pass them on to consumers, or invest heavily in shifting production.

Hearings That Will Shape the Outcome

The hearings opening tomorrow will play a critical role in determining how these tariffs are applied. The USTR has already requested consultations with governments across dozens of countries, and companies have submitted written comments outlining the potential economic impact.

The first hearing, beginning April 28, will focus on forced labor enforcement, followed by a second session on May 5 addressing global manufacturing imbalances.

Businesses that participate will have a chance to influence how tariffs are structured — including which industries are targeted and at what rates.

The $160 Billion Legal Fallout

At the same time, the administration is dealing with the financial consequences of the Supreme Court’s earlier ruling.

More than 2,000 lawsuits have been filed by companies seeking refunds for tariffs previously collected under IEEPA, with total claims estimated between $160 billion and $175 billion.

U.S. Customs and Border Protection (CBP) is currently developing a system — known as the Consolidated Administration and Processing of Entries (CAPE) — to manage potential refunds, though no timeline has been announced.

Trade advisors are urging companies to pursue claims through both litigation and administrative channels, as the process remains uncertain.

Despite the legal challenges, Treasury Secretary Scott Bessent has indicated the administration intends to maintain overall tariff revenue levels by combining multiple authorities, including Sections 122, 232, and 301 — ensuring that even if refunds are issued, the broader tariff structure remains intact.

A Structural Shift for U.S. Business

For American companies, the message is increasingly clear: tariffs are not being rolled back — they are being rebuilt.

What began as a contested use of emergency powers is now evolving into a long-term trade framework grounded in established law, with the potential to reshape global supply chains and pricing structures for years to come.

As the hearings begin, businesses across sectors — from manufacturing to retail — are preparing for a future where tariffs are not a temporary disruption, but a permanent feature of the economic landscape.

The companies that engage now may help shape that future. Those that do not may find themselves adapting to it.

— JBizNews Desk

.

The Golden State is losing its appeal in Malibu’s tough, salt-sprayed rocks and Moorpark’s sun-drenched hills.

Larry Thorne’s family has watched the Pacific fog pour over the community’s food-producing fields for almost 80 years. Today, the view is clouded by a different threat, including a triple price for$ 7-a-gallon diesel, rising power prices, and a suffocating regulatory environment, which local farmers refer to as the “master program” to run the working group out of the state.

Thorne is the last land to be built in a community of million-dollar estates, and it is at a point where Sacramento’s energy agenda can no longer compete with the region’s Mediterranean climate.

On a clear, spring day, Thorne told Fox News Digital at his land,” The California state has its head in the sand when it comes to power.” Every agricultural power has said,” Get great or getting out. For the past 40 years. And so the smaller producer is not surviving, but those who took on the issue of simply getting bigger and bigger and bigger are.

OIL PRODUCER ORG SHREDS CALIFORNIA DEM FOR Accusing IRAN WAR FOR GAS PRICES IN ITS DISTRICT

The 3, 000-acre Underwood Family Farms, owned and run by 83-year-old Navy veteran Craig Underwood, are located about 40 minutes north of Thorne&rsquo ;s farm. He has spent more than 50 years evicting life from Ventura County soil, has seen market crashes and droughts, and has never witnessed a$ 70 strawberry flat or a$ 1,600-per-acre regulatory cost associated with a head of lettuce.

Under the darkened support of his farm&rsquo, his education center, Underwood also reported to Fox News Digital:” Every time we cut costs, and we try to get a little bit more money, but every year the costs increase more than we’ve been able to cut them, and the money that we receive is less.” ” I think a lot of producers are under stress right now because this is a very difficult economic time,” according to the author.

The producers in California are a declining species. They are the bruised hands behind your grocery cart, who are currently being ordered to trade their trucks for an energy transition the network might not help and who are now being paid nearly$ 7 per quart of diesel fuel.

” Dicken was five cents per gallon when I was younger,” Thorne said. Between the costs of grain, fertilizer, energy, and labor, “everything has increased by at least 25 %,” according to the report. The fuel cost to deliver the food to the town is what is really killing the consumer, with my pickup trucks now costing close to$ 200. It is significantly increasing.

California has definitely become almost uncompetitive in terms of having to adhere to a lot of different rules that come from Sacramento. There is a bunch of regulation, Underwood said, and our labor fees are higher.

The labor of love that went into the area is obvious despite the stark differences in the size of the two farms ‘ activities. Before picking a few of the mature, red strawberries off their stems, Thore carefully tasted them. The result was an intense, fruity crimson explosion that stung the tongue and made the senses. After taking a vehicle tour that included a gigantic cornhole, endless fields of you-pick create options like cabbage, raspberries, turnips, several lettuce, beets, lemons, blackberries, and even fresh flowers, Underwood took the event.

The people who serve America are warning that the network, the prices, and the regulations are designed for” the very richest people,” leaving the typical home and small business owners behind. Their enthusiasm for their work is unmistakable.

They are operating the oil refineries out of the condition at the same time as we do not have the power to make it happen and we don’t have the generator to make it happen. It sounds like a master plan to reduce California’s people, to be honest. From 40 million to 20 million, essentially the very wealthy who can purchase the gas rates, real estate taxes, and other expenses, Thorne said. It sounds like a king strategy to elude state intervention in my situation.

Low prices, reduced demand, and low demand are actually affecting California’s farmers, according to Underwood, who noted that the entire export process has been halted. There are “many stories about the high cost of meal,” but the majority of it is caused by the food moving all over the nation. And there are cooling, warehouse, vehicles, and transportation involved in each head of lettuce you buy because it is the cost of getting it from the field, harvested, and then placed on a shelf.

CHEVRON WARNS NEWSOM’S ‘, ADVERSARIAL ’, ENERGY AGENDA WILL CRIPPLE CALIFORNIA ECONOMY, SEND GAS PRICES SOARING

Due to a mixture of state and local taxes, a” clean-burning” gas blend, a lower carbon fuel standard, and limited in-state plant power, California’s gas prices are among the highest in the country.

The United States recently introduced legislation to ensure a 100 % electronic coming by 2035, but President Donald Trump and the U.S. Senate blocked it in a historic vote.

According to Underwood, California regulations cost lettuce an estimated$ 1,600 per acre, while farmer margins typically range between$ 100 and$ 200, according to Underwood. The average American farmer is now between 60 and 67 years old, and tractor maintenance costs range between$ 70,000 and$ 30,000.

Both farmers said operating their businesses outside of the state would be more economical, but neither has ever thought about preserving their millennial past.

Although it’s definitely 30 % less expensive to operate outside of California, I couldn’t develop what I do elsewhere. In Nevada, I am unable to do this. We have a climate that hardly anyone else on earth can increase, according to Thorne, and I didn’t grow strawberries in Nevada.

” Farming is one of those industries. You have to survive it, and you much like it because it’s difficult, Underwood said. It’s both a life and a company. We’ve experienced very difficult times before, so this isn’t something completely new, and I’d assume we’ll definitely manage to survive.”

Gov. The California Energy Commission was requested by Gavin Newsom’s office for remark on Fox News Digital. The conflict in Iran and the successful closing of the Strait of Hormuz, a crucial delivery canal through which about 20 % of the nation’s petrol supply flows, are all contributing factors, according to a spokesperson. Regardless of whether oil is being pumped out or have refineries, the state’s investments in clean transportation, fresh fuels, network reliability, and electric vehicle adoption are the key components of protecting consumers from the kind of unusual policy-driven price shocks that Americans are experiencing every day.

Instead of mandated electricity, Thorne and Underwood advocated for a return to what they termed” common-sense power solutions” like factories and nuclear energy.

Clicking HERE WILL GET FOX BUSINESS ON THE GO.

Thorne emphasized that California needs to shut down power suppliers and that oil refineries are necessary. Build nuclear reactor, factories, and [do it ] as quickly as humanly possible.

According to Underwood,” Change needs to come, and I would like the condition to reflect us more than Edison and PG&amp, E,” and it seems like Edison and PG&amp, E usually have a seat at the table while the typical business or customer doesn’t.”

The first episode of Fox News Digital’s” Golden State stress: Inside California’s monetary problem” is available. Visit us for Part 2 where we travel across the country to the most expensive petrol stations to hear the voices Sacramento is trying to silence.

FOX BUSINESS: Extra

This post was originally published here

April 27, 2026 | JBizNews Desk

Meta Platforms Inc. is moving beyond Earth in its race to power artificial intelligence. The company announced Monday a pair of ambitious energy partnerships — including a first-of-its-kind agreement to harness solar power from space — underscoring how far major tech firms are willing to go to secure reliable electricity for next-generation data centers.

The announcement positions Meta as the first major technology company to reserve capacity for space-based solar energy, alongside one of the industry’s largest commitments to ultra-long-duration energy storage — a dual strategy aimed at solving the growing power constraints of AI infrastructure.

Energy From Orbit: The Overview Energy Deal

Meta has partnered with Overview Energy, a space-based power startup, to develop a system that captures solar energy in orbit and beams it back to Earth. The companies plan an initial orbital demonstration by 2028, with commercial deployment targeted for 2030.

Under the agreement, Meta has secured access to up to 1 gigawatt of capacity — roughly equivalent to a nuclear reactor. Financial terms were not disclosed.

Overview’s approach centers on satellites positioned in geosynchronous orbit, where continuous sunlight can be harvested without interruption. The energy would then be transmitted as low-intensity infrared light to ground-based solar facilities, effectively extending their output into nighttime hours and across regions.

CEO Marc Berte described the shift in stark terms: “Space is becoming part of America’s energy infrastructure. Our approach enables hyperscalers to secure clean power with speed and reliability, beyond traditional geographic and time constraints.”

The company envisions a constellation of hundreds — potentially thousands — of satellites transmitting energy to terrestrial solar farms. Berte confirmed that early transmission testing has already been conducted from airborne platforms, with the first satellite launch planned for January 2028.

Meta’s Vice President of Energy and Sustainability, Nat Sahlstrom, framed the partnership as both a technological leap and a strategic necessity. “Space solar represents a transformative step forward,” Sahlstrom said. “This is about delivering uninterrupted energy and strengthening long-term energy resilience for our infrastructure.”

Overview’s advisory board includes prominent figures such as former NASA Administrator Jim Bridenstine, former NASA Administrator Mike Griffin, and former FERC Chairman Joseph Kelliher, lending institutional credibility to a concept long considered experimental.

Second Front: 100-Hour Energy Storage

Alongside its space initiative, Meta announced a separate partnership with Noon Energy focused on ultra-long-duration energy storage — addressing the second major limitation of renewable energy: reliability.

The agreement includes a reservation for up to 1 gigawatt and 100 gigawatt-hours of storage capacity, with a pilot project of 25 megawatts and 2.5 gigawatt-hours expected by 2028.

Noon’s technology uses reversible solid oxide fuel cells capable of storing energy for more than 100 hours, far exceeding the four-to-eight-hour limits of conventional lithium-ion batteries.

CEO Chris Graves called the deal “a monumental step,” noting the system is designed to deliver multi-day energy supply during periods when renewable generation is unavailable.

Sahlstrom emphasized the urgency: “Bringing data centers online faster requires reliable, scalable energy. This technology helps deliver that — with resilience built in.”

The Bigger Picture: AI’s Energy Arms Race

Meta’s twin announcements highlight a deeper reality: the AI boom is driving an unprecedented surge in energy demand.

In 2024 alone, Meta’s data centers consumed more than 18,000 gigawatt-hours of electricity — enough to power over 1.7 million U.S. homes. That figure is expected to rise sharply as AI models grow in size and complexity.

To meet demand, Meta has already contracted more than 30 gigawatts of clean energy, including major investments in geothermal and nuclear power through partnerships with Vistra, TerraPower, Oklo, and Constellation Energy.

Yet traditional renewables face hard limits — solar depends on daylight, wind is variable, and battery storage remains constrained in duration. Space solar and ultra-long-duration storage aim to solve all three challenges simultaneously.

The broader tech sector is moving quickly. Microsoft, Google, and Amazon are all competing to secure energy capacity for AI workloads, driving a global race not just for compute power — but for electricity itself.

Meta’s move into space raises the stakes.

What Comes Next

Both the Overview orbital demonstration and the Noon Energy pilot project are scheduled for 2028 — a critical test of whether experimental energy technologies can scale fast enough to meet AI-driven demand.

If successful, space-based solar could redefine how power is generated and distributed — turning orbit into a permanent layer of the global energy grid.

For now, investors are watching closely. Meta reports earnings later this week, with shares trading near record highs — and expectations building that its energy strategy will become as central to its future as its AI ambitions.

— JBizNews Desk


April 27, 2026 | JBizNews Desk

U.S. budget airlines are escalating their appeal to Washington. Frontier Group Holdings and Avelo Airlines are leading a coalition seeking $2.5 billion in federal relief, as surging jet fuel prices push the low-cost carrier model toward a potential breaking point — with Spirit Airlines facing a make-or-break April 30 deadline that could trigger the first major U.S. airline liquidation in a generation.

According to a report first published by The Wall Street Journal, airline executives met in Washington last week with Transportation Secretary Sean Duffy and FAA Administrator Bryan Bedford to press their case. The proposal under discussion would structure government support as warrants convertible into equity stakes — echoing pandemic-era rescue frameworks.

The $2.5 billion figure reflects a simple reality: fuel costs have blown past projections. Airlines estimate jet fuel will remain above $4 per gallon through 2026. Data from Airlines for America shows prices already at $4.19, a level that is rapidly compressing margins across the sector.

Fuel Shock Hits the Weakest First

The driver is geopolitical. The ongoing Middle East conflict has disrupted flows through the Strait of Hormuz — a channel responsible for roughly 20% of global oil supply — pushing Brent crude up about 44% to near $105 per barrel and effectively doubling jet fuel costs.

For budget airlines, the impact is immediate and severe.

Conor Cunningham, airline analyst at Melius Research, said ultra-low-cost carriers are “disproportionately exposed” to fuel volatility, given their limited hedging strategies and dependence on ultra-low base fares. Simply put, they lack the pricing power of legacy airlines.

That divide is already visible. United and American Airlines have trimmed forecasts but successfully passed higher fuel costs onto passengers. Budget carriers don’t have that flexibility — raising fares undermines their core model — leaving them squeezed between rising costs and price-sensitive customers.

Avelo said it “emphatically agrees that a healthy airline industry with strong competition is important to the U.S. economy,” but declined further comment. Frontier and the White House did not respond.

Spirit’s $240 Million Deadline

The urgency is being driven by Spirit Airlines, now at the center of the crisis. The company needs access to $240 million in restricted cash by April 30 to continue operating. A bankruptcy court hearing that day could determine its fate.

A potential rescue package includes $500 million in federal support, structured as a loan that could convert into as much as a 90% government stake.

Behind the scenes, restructuring talks are intensifying. Marshall Huebner of Davis Polk, representing Spirit, and Mike Stamer of Akin, advising bondholders, are navigating a complex negotiation as creditors and policymakers weigh outcomes.

President Donald Trump has publicly backed intervention, stating: “We’re thinking about doing it… helping them out, meaning bailing them out, or buying it.” Spirit CEO Dave Davis said the airline is “grateful” for the administration’s support.

Labor groups are also pressing for action, warning liquidation would ripple through jobs, travel access, and regional economies.

Backlash Builds in Washington

The potential bailout is already triggering resistance. Secretary Sean Duffy has questioned the logic of intervention, warning against “putting good money after bad.”

On Capitol Hill, opposition is bipartisan. Sen. Ted Cruz called the proposal “an absolutely terrible idea,” while Sen. Tom Cotton said it would be “not the best use of taxpayer dollars.” Sen. Elizabeth Warren blamed the administration’s Iran policy for driving fuel prices higher and pushing airlines into distress.

Policy analyst Tad DeHaven of the Cato Institute warned that government intervention risks setting a dangerous precedent, creating expectations of future bailouts across the industry.

Industry Model Under Pressure

Aviation analyst Gary Leff highlighted a competitive contradiction: rescuing Spirit could weaken rivals like Frontier by preserving excess capacity in the ultra-low-cost segment.

Consultant Mike Boyd went further, arguing the crisis exposes a structural flaw. The ultra-low-cost model, he said, “struggles to function” when fuel remains elevated for extended periods.

Credit markets are already signaling concern. Joe Rohlena, senior director at Fitch Ratings, warned that sustained fuel pressure could lead to broader credit deterioration across budget carriers if conditions persist.

What Comes Next

The stakes extend beyond a single airline. During the pandemic, the U.S. government deployed $54 billion in airline support but recovered only a fraction through equity warrants — a precedent that continues to shape today’s debate.

Analysts at JPMorgan have cautioned that any bailout could trigger a wave of similar requests — a scenario now unfolding as Frontier and Avelo step forward.

The administration now faces a defining decision: allow market forces to play out — potentially leading to the first major airline collapse in decades — or step in and risk opening the door to sustained intervention in the aviation sector.

Secretary Sean Duffy has signaled that consolidation may be the preferred path, noting President Trump’s openness to large-scale deals — hinting that mergers, not bailouts, could ultimately reshape the industry.

For now, the timeline is clear.

April 30 is approaching — and the outcome may redefine the future of budget air travel in the United States.

— JBizNews Desk

TOKYO / SEOUL — April 27, 2026 — Asian markets pushed to historic highs Monday as investors doubled down on the global artificial intelligence boom, brushing aside stalled U.S.-Iran negotiations and elevated oil prices to drive equities in Japan and South Korea to record levels.

Japan’s Nikkei 225 surged as much as 1.45%, breaking above the 60,000 mark intraday and trading near 60,585 before closing around 60,388 — a milestone that underscores the market’s deepening alignment with global AI-driven growth. The rally was led by export-heavy technology names tied to semiconductor demand, even as Brent crude hovered above $100 per barrel, reflecting ongoing tensions in the Middle East.

“AI and chip supply chains remain the dominant theme,” said Masashi Hashimoto, equity strategist at Nomura Securities. “Japanese exporters are benefiting from resilient global demand that has little to do with the Strait of Hormuz right now.”

In South Korea, the Kospi index climbed nearly 2%, reaching a fresh all-time high near the 6,600 level, driven by heavyweight semiconductor firms including Samsung Electronics and SK Hynix. The rally reflects surging global demand for high-bandwidth memory (HBM) — a critical component powering next-generation AI infrastructure.

Government officials in Tokyo and Seoul signaled cautious optimism. Bank of Japan policymakers, led by Governor Kazuo Ueda, continue to monitor inflation risks tied to higher energy prices while maintaining an accommodative stance that supports equity markets. Meanwhile, South Korea’s export data showed accelerating semiconductor shipments, reinforcing the strength of the country’s tech-led recovery.

Despite the strong momentum, analysts warn that the current disconnect between markets and geopolitics may not hold indefinitely. “Markets are shrugging off the news for now, but prolonged disruption in oil flows would eventually pressure importers like Japan and South Korea,” said Eunice Park, Asia macro strategist at Goldman Sachs. “Still, the AI capital expenditure cycle appears durable enough to absorb near-term volatility.”

The rally comes even as diplomatic efforts between Washington and Tehran stall. President Donald Trump canceled a planned envoy trip over the weekend, citing lack of progress on key issues including nuclear limits and regional security. Iranian officials have rejected recent proposals, and tensions remain elevated around critical shipping routes, particularly the Strait of Hormuz.

Yet markets across Asia have effectively decoupled from the headlines. The MSCI Asia Pacific Index rose approximately 1.3%, tracking gains on Wall Street where U.S. technology earnings continue to exceed expectations despite mixed economic signals.

Underpinning the surge are structural tailwinds. Japan’s corporate sector has benefited from governance reforms, stronger shareholder returns, and a weaker yen that boosts exporter earnings. In South Korea, policy shifts under President Lee’s administration aimed at supporting strategic industries have helped unwind the long-standing “Korea Discount,” drawing renewed foreign capital into equities.

“Semiconductor revenues are growing at double-digit rates,” said Rajiv Shah, head of Asia equity strategy at JPMorgan Chase. “That growth more than offsets the drag from higher energy costs.”

Still, the risks are real. Analysts estimate that a sustained increase in oil prices could shave up to 0.5 percentage points off GDP growth in both economies. Japan and South Korea remain heavily dependent on energy imports, leaving them exposed to prolonged geopolitical disruptions.

For now, however, the momentum is firmly with technology. Traders in Tokyo described Monday’s session as a “classic decoupling” — geopolitical headlines dominated screens, but capital continued flowing aggressively into semiconductor and AI-linked names. Market volumes remained strong without signs of speculative excess, suggesting conviction rather than short-term trading.

The coming days will test whether that conviction holds. A wave of U.S. corporate earnings — particularly from major technology firms — could reinforce or challenge the AI-driven narrative. At the same time, any escalation in the Middle East could quickly shift sentiment.

For now, the message from Asia’s two largest tech-driven markets is unmistakable: the AI boom is powerful enough to override geopolitical uncertainty — at least for the moment.

JBizNews Desk


The U.S. economy did not just slow at the end of 2025 — it nearly stalled.

Real gross domestic product expanded at just a 0.5% annualized rate in the fourth quarter, according to the final estimate released by the U.S. Bureau of Economic Analysis (BEA) on April 9, marking a sharp downgrade from earlier readings and a dramatic loss of momentum heading into 2026. “Growth increased at an annual rate of 0.5 percent in the fourth quarter of 2025,” the BEA said — well below the initial 1.4% estimate and down from 0.7% in the prior revision.

The message is clear: the economy entered 2026 with almost no cushion.

The downgrade was driven by weakening demand across the board. The BEA said the revision “primarily reflected downward revisions to consumer spending and private inventory investment,” while a rise in imports — which subtract from GDP — further dragged on the headline number. “When consumption and investment are both revised lower, that’s not noise — that’s a signal,” said Bret Kenwell, U.S. investment analyst at eToro, warning that underlying demand is softening.

The slowdown marks a decisive break from earlier strength. After growing 2.4% in the third quarter, the economy lost speed rapidly, leaving investors and executives questioning whether the weakness is temporary — or the start of something deeper. Economists cited by Reuters pointed to softer household spending and uneven business investment, while analysts speaking to Bloomberg said revisions of this magnitude reinforce concerns that the economy entered 2026 “on fragile footing.”

Consumer spending — which drives roughly two-thirds of U.S. economic activity — still increased, but not enough to carry the economy. The BEA acknowledged that growth “primarily reflected increases in consumer spending and private inventory investment,” but the revised data makes clear that both were weaker than initially believed. Even modest downgrades in consumption can materially shift the economic outlook.

Trade made things worse. The BEA confirmed imports rose during the quarter, subtracting from overall growth. Economists at Wells Fargo, cited by MarketWatch, said swings in trade and inventories can distort quarterly data, but emphasized that the final reading still points to “subdued” underlying activity.

Layered on top of that was a major policy shock. The longest government shutdown in U.S. history disrupted federal spending and economic data collection late in the quarter, adding volatility to already weakening conditions. Analysts at Oxford Economics, cited by Reuters and Bloomberg, said government disruptions likely compounded private-sector softness, even if the precise impact remains difficult to isolate.

At the same time, inflation refused to cooperate. The PCE price index rose 2.9% in the quarter, with core PCE at 2.7%, keeping pressure on the Federal Reserve. “This is a difficult mix — growth slowing while inflation stays elevated,” said Sonu Varghese, Chief Macro Strategist at Carson Group, warning that the Fed’s path forward is becoming increasingly constrained.

That constraint is now front and center. In recent remarks, Federal Reserve Chair Jerome Powell reiterated that the central bank remains “focused on our dual mandate goals of maximum employment and stable prices,” signaling no immediate pivot. A near-flat growth print only intensifies the dilemma: cut rates and risk inflation — or hold steady and risk further slowdown.

Corporate America is already adjusting. Economists at The Conference Board warn that slower growth pressures hiring and capital spending decisions, while analysts cited by The Wall Street Journal say companies often respond to near-zero growth by conserving cash and delaying expansion until clearer signals emerge.

Global risks are adding to the pressure. The International Monetary Fund has cut its 2026 growth outlook to 3.1%, with Chief Economist Pierre-Olivier Gourinchas warning that escalating Middle East tensions could pose a “much larger threat” to global growth than previously expected. Higher energy prices, tighter financial conditions, and weakening demand are all moving in the wrong direction.

One area still holding up: profits. The BEA reported corporate profits rose $246.9 billion in the fourth quarter, suggesting businesses are maintaining margins — for now. But profits tend to lag economic slowdowns, not prevent them.

The real test is next.

With fourth-quarter growth now locked at 0.5%, attention shifts to incoming 2026 data to determine whether this was a temporary disruption — or the start of a broader downturn. Economists across Reuters, Bloomberg, and major bank research desks are already warning that momentum was thin before the year even began.

If the next data confirms that trend, the slowdown won’t be a surprise.

It will be a confirmation.

JBizNews Desk

In a year dominated by artificial intelligence mania, Federal Reserve uncertainty, and geopolitical risk, one of the simplest strategies on Wall Street is quietly outperforming nearly everything else — and doing so at levels not seen in almost a century.

Bank of America’s chief investment strategist Michael Hartnett calls it the “sleep like a baby” portfolio — a deliberately balanced approach designed not to chase returns, but to preserve them. In 2026, however, the strategy is doing both. “It’s on pace for its best year since 1933,” Hartnett wrote in a recent Bank of America Global Research Flow Show note, describing a performance that is now forcing even aggressive investors to take notice.

The structure is straightforward: instead of the traditional 60/40 split between stocks and bonds, the portfolio allocates 25% each to stocks, bonds, cash, and commodities. The result has been a remarkable 26% annualized return in 2026, just shy of the 27% achieved during the Great Depression-era rebound in 1933. “This is one of the strongest relative performances versus 60/40 in modern market history,” Hartnett noted.

What makes the outcome striking is that the strategy was never intended to lead. It was built to withstand — spreading exposure across growth, safety, liquidity, and hard assets. Yet in today’s environment, each of those components is contributing meaningfully. “Diversification is finally working again,” said Savita Subramanian, Head of U.S. Equity Strategy at Bank of America, pointing to a rare alignment where all major asset classes are delivering positive returns simultaneously.

The standout driver of 2026 has been commodities, particularly gold. Hartnett highlighted that while equities are posting solid gains of around 14% annualized, gold has surged 31% year-to-date, marking a rare fourth consecutive year of double-digit increases — a pattern historically associated with wartime economies and inflationary cycles. “Gold is signaling structural shifts in the global economy,” said Natasha Kaneva, Global Head of Commodities Strategy at J.P. Morgan, who has projected prices could approach $5,000 per ounce.

Other major institutions are even more bullish. UBS analysts have outlined scenarios where gold could reach as high as $6,200 per ounce by mid-2026, driven by central bank accumulation, persistent deficits, and declining real interest rates. “The macro backdrop strongly favors hard assets,” UBS noted in a recent outlook.

Despite the surge, most investors remain significantly underexposed. According to Bank of America data, private client portfolios hold an average of just 0.4% in gold, far below the 25% allocation that is powering the “sleep like a baby” strategy. “There is a massive positioning gap,” Hartnett wrote, warning that continued performance could force investors to rotate into commodities late in the cycle.

The concept itself is not new. Its roots trace back to the Permanent Portfolio introduced by Harry Browne, which advocated equal allocations across stocks, long-term bonds, cash, and gold to weather all economic conditions. Bank of America’s modern adaptation broadens the commodity exposure beyond gold into a wider basket of natural resources, aligning it more closely with today’s global economy.

The renewed interest in such strategies comes after a critical failure of the traditional 60/40 model. In 2022, both stocks and bonds declined simultaneously, breaking a decades-old assumption that bonds would provide downside protection. “That was a wake-up call,” said David Kostin, Chief U.S. Equity Strategist at Goldman Sachs, noting that “correlations have changed, and portfolios need to adapt.”

In 2026, those changes are fully visible. Rising energy prices tied to Middle East tensions, persistent inflation pressures, and elevated cash yields have created an environment where all four components of the diversified portfolio are contributing. “We are in a regime where balance is outperforming concentration,” said Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, emphasizing the benefits of broad exposure.

Hartnett’s conclusion is direct: the strategy that investors often overlook as too simple is now outperforming many of the most complex approaches on Wall Street. “The boring portfolio is beating everyone,” he wrote — a statement that captures both the irony and the lesson of 2026.

As capital begins to follow performance, the key question is whether this historic run has further to go. If investors begin reallocating toward commodities and rebalancing portfolios away from concentration in high-growth sectors, the “sleep like a baby” strategy may not only sustain its edge — it could reshape how portfolios are built in the years ahead.

JBizNews Desk

Crocs, Inc. has pulled off one of the most unexpected turnarounds in modern retail, transforming a once-mocked foam clog into a global cultural and financial force generating more than $4 billion in annual revenue and commanding attention across Wall Street and social media alike.

Long dismissed as unfashionable — and even labeled one of the “worst inventions” by critics in its early years — Crocs (NASDAQ: CROX) is now experiencing a powerful resurgence fueled by cultural relevance, disciplined execution, and aggressive expansion into digital commerce. “This is a brand that rewrote its own narrative,” said Andrew Rees, Chief Executive Officer of Crocs, noting that the company has “leaned into authenticity and consumer engagement in a way that resonates globally.”

The numbers underscore the transformation. Crocs reported full-year 2025 revenue exceeding $4 billion, while generating approximately $659 million in free cash flow. The company returned capital to shareholders by repurchasing roughly 6.5 million shares for $577 million and reduced debt by $128 million — a financial profile that signals strength rather than recovery. “Crocs is operating from a position of offense,” said Jim Duffy, analyst at Stifel, describing the company’s capital allocation as “a clear indicator of confidence in sustained demand.”

At the core of Crocs’ resurgence is a dramatic cultural repositioning. Once considered socially undesirable, the brand has successfully repositioned itself as a customizable, expressive, and highly visible lifestyle product. Strategic collaborations have played a central role. In 2025, Crocs launched partnerships with the National Football League, as well as entertainment franchises including Stranger Things and Twilight, both of which generated rapid sellouts and strong resale activity. “Limited drops and cultural tie-ins have created urgency and relevance,” said Simeon Siegel, retail analyst at BMO Capital Markets, adding that “Crocs has mastered the modern playbook of scarcity and storytelling.”

The company’s newest partnership with LEGO Group signals a longer-term strategy aimed at younger consumers and families, extending Crocs’ reach across generations. “We are building for the future consumer,” Rees said, emphasizing the importance of brand engagement early in life.

Nowhere is Crocs’ momentum more visible than on social platforms. The company and its sister brand HeyDude currently rank as the number one and number two footwear brands on TikTok Shop in the United States, reflecting a broader shift in how consumers discover and purchase products. “Social commerce is becoming a primary growth driver,” Rees said, pointing to continued expansion across international TikTok markets.

To deepen that engagement, Crocs has moved into original content. In early 2026, the company launched a short-form microdrama series titled Charmed to Meet You, which surpassed 10 million views within weeks and reached the Top 10 on ReelShort, a fast-growing mobile entertainment platform. “This is a brand behaving more like a media company,” said Doug Stephens, retail futurist and founder of Retail Prophet, noting that “Crocs understands attention is currency.”

International growth is accelerating alongside digital expansion. Crocs reported an 11% increase in international revenue in 2025, with China surging 30% and continued strength in Japan and Western Europe. The company now operates approximately 2,600 branded retail locations globally and plans to open an additional 200 to 250 stores and kiosks in 2026. “Global demand remains robust, particularly in Asia,” said Erinn Murphy, consumer analyst at Piper Sandler, highlighting Crocs’ ability to localize while maintaining brand consistency.

Product innovation and personalization remain central to the company’s strategy. Crocs’ signature Jibbitz charms — small, customizable accessories that attach to footwear — accounted for roughly 8% of total sales last year. The company has expanded the concept into adjacent categories, including bags and accessories. “Personalization drives repeat purchases and brand loyalty,” Rees said, describing Jibbitz as “a meaningful contributor to growth.”

Meanwhile, Crocs is quietly building a second growth engine in sandals. The category accounted for approximately 13% of product mix in 2025, approaching $450 million in annual revenue. The company is now launching its Saturday sandal line, designed to capture additional market share in a segment traditionally dominated by legacy competitors. “We see significant runway in sandals,” Rees said, pointing to strong momentum in North America and extended seasonal demand.

The broader industry backdrop is also supportive. The global footwear market is projected to reach approximately $550 billion in 2026, growing at an annual rate of more than 5%. Crocs is not merely participating in that growth — it is outperforming within the fastest-moving channels, particularly digital and social commerce. “Crocs is where the consumer is going, not where they’ve been,” said Simeon Siegel of BMO, emphasizing the brand’s relevance with younger demographics.

What began in 2002 as a niche boating shoe — conceived by founders Scott Seamans, Lyndon Hanson, and George Boedecker Jr. — has evolved into a symbol of modern consumer behavior, where comfort, individuality, and cultural alignment outweigh traditional notions of fashion. The company’s stock has reflected that shift, with investors increasingly viewing Crocs as a durable growth story rather than a cyclical fad.

From industry punchline to platform-driven powerhouse, Crocs has redefined what a comeback looks like in the digital age. The question now is no longer whether the brand can sustain relevance — but how far it can scale it.

JBizNews Desk

April 26, 2026

Newark — New Jersey is stepping up its efforts to host the 2026 FIFA World Cup, grow its film and television sector, and cut red tape for businesses as part of a coordinated push to strengthen the state’s economy.

“New Jersey is not sitting back — we are actively building the infrastructure and partnerships needed to turn these major events into lasting economic gains,” said Evan Weiss, CEO of the New Jersey Economic Development Authority (NJEDA).

The NJEDA recently approved $20 million to support the New York New Jersey Host Committee for the World Cup. This includes $5 million in community grants to help local businesses benefit from tourism, watch parties, and related events. With MetLife Stadium in East Rutherford scheduled to host multiple matches — including the final — officials expect a major boost to hospitality, retail, and small businesses across the state.

“This is a once-in-a-generation opportunity to showcase New Jersey to the world and drive real investment into our communities,” noted Weiss.

The state’s film and television industry is also expanding rapidly. Major studio projects are moving forward in Monmouth County (Netflix), Newark’s South Ward (Lionsgate), and Bayonne (1888 Studios). These developments, backed by New Jersey’s film tax credit program, are expected to create thousands of jobs and bring hundreds of millions of dollars in production spending to the state.

“The film industry has become a genuine economic engine for New Jersey, creating high-quality jobs and attracting major talent and investment,” said Weiss.

Governor Mikie Sherrill is focusing on making it easier to do business in the state. In a new executive order, she launched the “Saving You Time & Money” initiative to streamline permitting processes — especially at the Department of Environmental Protection, which has long been a major hurdle for developers and companies.

“Streamlining permitting processes is critical to reducing costs, boosting innovation, creating good jobs, and growing the economy,” emphasized Governor Sherrill.

Challenges Remain

Despite the positive momentum, New Jersey businesses still face high operating costs, elevated energy prices, and workforce shortages. The state recorded a net job loss in February, though the overall labor market remains relatively stable.

“Affordability, energy costs, and workforce development remain the top concerns for New Jersey executives heading into the rest of 2026,” said participants at recent business roundtables.

World Cup preparations have also sparked debate over proposed high transit ticket prices for MetLife Stadium events. The Sherrill administration has defended the costs as necessary to cover infrastructure and security while still delivering net economic benefits to the state.

“The state’s economic future depends on converting these high-profile opportunities into broad-based competitiveness for businesses and residents,” noted regional economists.

If executed well, New Jersey’s strategy around the World Cup, film production, and regulatory reforms could help attract more investment and improve the state’s business reputation in the competitive Northeast.

JbizNews Desk New Jersey

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Berkshire Hathaway is drawing renewed attention from value-focused investors even as its shares continue to lag the broader market. The conglomerate, long a benchmark for steady performance under Warren Buffett, is experiencing one of its most pronounced periods of underperformance against the S&P 500 in decades.20

Berkshire Hathaway shares have fallen roughly 6-7% year-to-date in 2026, while the S&P 500 has advanced about 4%. Over the past 12 months, the gap widens significantly, with Berkshire trailing the index by around 30-40 percentage points in some measures. This stretch marks one of the widest divergences since Buffett took control in 1965.27

Highly realistic high-resolution news photograph of Berkshire Hathaway headquarters building in Omaha, Nebraska on a clear sunny daytime. Modern corporate campus style with brick and glass architecture, green lawns, trees, American flag, professional documentary photo style like Bloomberg or Reuters for business finance article.landscape

The underperformance has accelerated since Buffett announced his planned departure as CEO in 2025, with Greg Abel now leading operations. Berkshire Hathaway’s heavy cash position — exceeding $300 billion — has acted as a drag in a market dominated by high-growth technology stocks. While the cash provides a defensive buffer and earning power through Treasury investments, it has limited participation in the S&P 500’s recent rally.23

Analysts note that Berkshire Hathaway resumed share repurchases in early 2026, signaling confidence in its valuation. Greg Abel has also personally invested in the stock. Despite these moves, the company’s diversified portfolio of insurance, railroads, utilities, and consumer businesses has not kept pace with the tech-heavy index. Insurance underwriting results have faced headwinds, and organic growth in operating subsidiaries has been modest.11

Yet this very weakness is what is attracting fresh interest. At current levels, Berkshire Hathaway trades near 1.4 times book value — closer to historical norms — and offers an earnings yield in the mid-5% range when including look-through earnings from its equity portfolio. Some observers argue that not much needs to go right for the stock to deliver market-beating returns going forward, even in a post-Buffett era.35

Berkshire Hathaway’s massive cash hoard positions it to act decisively when opportunities arise. The company has historically excelled in deploying capital during periods of market stress. With valuations elevated in many sectors, patient capital like Berkshire’s could prove advantageous if economic conditions shift.19

The transition to Greg Abel remains a focal point. While he has deep operational experience running Berkshire’s energy and utilities businesses, investors are still assessing his capital allocation style compared to Buffett’s legendary track record. The stock’s recent weakness may reflect some uncertainty around this handover, though Abel has largely maintained the same conservative approach.

From a broader market perspective, Berkshire Hathaway’s lag highlights the dominance of a handful of mega-cap technology names in the S&P 500. The index’s concentration in companies like Nvidia, Apple, Microsoft, and others has driven outsized gains, leaving more diversified or value-oriented names behind. Berkshire holds significant stakes in several of these names but has been a net seller of equities in recent quarters.22

Long-term investors point out that Berkshire Hathaway has underperformed the S&P 500 in full calendar years only about 20 times since 1965. Many of those periods were followed by strong relative recoveries, especially when the market eventually rotated away from high valuations.34

Berkshire Hathaway also benefits from its insurance float, which provides low-cost leverage, and its collection of stable cash-generating businesses. These attributes make it resilient in downturns — a quality that could regain favor if inflation concerns, geopolitical risks, or a market correction materialize.

Wall Street’s view is mixed but increasingly constructive on valuation. While some analysts caution that Berkshire still needs to demonstrate stronger growth to justify current levels, others see it as one of the more attractively priced large-cap options in an expensive market. The resumption of buybacks and the potential for opportunistic acquisitions add to the appeal.23

For individual investors, Berkshire Hathaway Class B shares (BRK.B) offer a straightforward way to gain exposure to a diversified empire without the high per-share price of Class A shares. The stock’s current discount to recent highs, combined with its fortress balance sheet, is prompting many to take a closer look.

As the market digests the post-Buffett reality, Berkshire Hathaway’s underperformance may ultimately create a compelling entry point for those with a long-term horizon. Whether the company can narrow the gap with the S&P 500 will depend on capital deployment success, insurance results, and broader economic conditions.

JbizNews Desk

Technology & Geopolitics | Saturday, April 25, 2026 | JBizNews Desk

China is tightening its grip on foreign capital in strategic sectors, directing leading technology companies—including some of its most prominent artificial intelligence firms—to reject U.S.-linked investments unless explicit government approval is secured, according to officials familiar with the policy and regulatory notices issued in recent weeks.

The directive, led by the National Development and Reform Commission (NDRC) alongside other central agencies, applies to major firms such as ByteDance Ltd., parent company of TikTok, as well as rising AI players including Moonshot AI and StepFun. Under the new framework, companies must obtain prior clearance before accepting funding or executing secondary share sales involving American investors, a move designed to protect technologies deemed critical to national security and economic competitiveness.

Officials in Beijing have framed the policy as a safeguard against the transfer of sensitive intellectual property and talent to geopolitical rivals. The restrictions effectively place China’s most valuable technology firms under tighter state supervision, particularly in sectors tied to artificial intelligence, advanced computing, and data infrastructure.

The shift follows growing concern inside China’s leadership over the outflow of high-value innovation. The catalyst, according to multiple analysts, was Meta Platforms Inc.’s acquisition of Manus, a Singapore-based AI startup founded by Chinese entrepreneurs, in a deal valued at approximately $2 billion that closed in late 2025. The transaction triggered alarm among Chinese regulators, who viewed it as a loss of advanced AI capabilities to a U.S. technology giant.

Chinese authorities subsequently launched a multi-agency review into the structure of the deal, focusing on whether Manus had effectively bypassed domestic controls by relocating operations abroad—a strategy often described as “Singapore-washing.” The investigation exposed gaps in China’s ability to monitor overseas entities founded by Chinese nationals, prompting calls for tighter regulatory oversight.

The new policy represents a clear escalation—and mirrors steps taken by Washington in recent years. The United States has imposed sweeping restrictions on Chinese access to advanced technologies through export controls, entity list designations, and investment bans targeting sectors such as semiconductors, artificial intelligence, and quantum computing. Companies including Huawei Technologies Co. and ZTE Corp. have been central targets of those measures.

By requiring government approval for U.S. capital inflows, Beijing is effectively adopting a reciprocal stance. Analysts describe the move as part of a broader tit-for-tat dynamic, as the world’s two largest economies increasingly decouple in critical technology domains.

For decades, American capital played a pivotal role in building China’s technology ecosystem. U.S. venture capital firms, pension funds, and institutional investors were early backers of companies such as Alibaba Group Holding Ltd., Tencent Holdings Ltd., and ByteDance. That era of relatively open cross-border investment is now rapidly giving way to a more fragmented and controlled global system.

The implications for China’s AI sector are significant. Companies like Moonshot AI, known for its Kimi chatbot, and StepFun, which has attracted strong investor interest, now face additional hurdles in raising international capital. Industry participants say the added regulatory layer could increase financing costs, slow expansion timelines, and push firms toward domestic or state-backed funding sources.

ByteDance, already under scrutiny in multiple jurisdictions, may also face constraints on liquidity events for early investors and employees due to tighter controls on secondary share sales. The broader impact could include a reorientation of capital flows, with companies increasingly turning to non-U.S. investors such as Middle Eastern sovereign wealth funds or European institutions—though those channels may also come under heightened review.

Analysts at several global investment firms warn that overly restrictive policies could have unintended consequences. Artificial intelligence development, they note, often depends on open collaboration, cross-border talent mobility, and access to diverse capital sources. Limiting those inputs risks slowing innovation in a sector Beijing has identified as a national priority.

The policy also aligns with China’s broader “dual circulation” strategy, which emphasizes domestic self-reliance while maintaining selective engagement with global markets. In practice, however, the balance is becoming harder to sustain as geopolitical tensions intensify.

For international investors, the changes introduce a new layer of complexity. U.S.-based funds already navigating domestic restrictions on China exposure now face additional barriers from Beijing itself, narrowing access to some of the country’s most promising technology startups.

Looking ahead, the move underscores a structural shift in the global technology landscape. As Washington and Beijing continue to prioritize national security over economic integration, companies operating at the intersection of both systems will be forced to adapt—balancing rapid innovation with increasingly strict regulatory oversight on both sides.

The result is a more fragmented, competitive, and politically sensitive global tech ecosystem—one in which capital, talent, and ideas are no longer as freely exchanged as they once were.

JBizNews Desk

Economy & Household Finances | Saturday, April 25, 2026 | JBizNews Desk

Goldman Sachs chief U.S. economist David Mericle and his team are revising earlier optimism, now warning that the long-discussed “K-shaped economy” — in which high-income households continue to advance while lower- and middle-income families fall further behind — is materializing with unusual force in 2026. The primary driver is the sharply unequal burden imposed by the U.S.-Israel military campaign against Iran, which has disrupted global energy markets and sent domestic gasoline prices surging.

In a research note this week, Goldman Sachs economists Ronnie Walker, Alec Phillips, and Joseph Briggs highlighted that what had looked like a promising year for consumer spending “has quickly become more challenging,” forecasting a roughly 1% decline in headline retail sales in the months ahead. The analysts pointed to rising gasoline prices as the most regressive element of the current shock, hitting lower-income households with disproportionate severity.

The numbers underscore the disparity. Households in the lowest income quintile spend approximately 18.3% of their wages on gasoline in a typical year — more than double the national average of 7.7%, according to the American Council for an Energy-Efficient Economy. Goldman Sachs calculations show these same households devote roughly four times as much of their after-tax income to gasoline as those in the top income quintile. With national average gasoline prices crossing $4 per gallon in early April for the first time since 2022, and fuel oil costs jumping 30.7% in March alone — the largest monthly increase since February 2000 — the energy shock is amplifying existing inequalities.

Moody’s Analytics chief economist Mark Zandi described the dynamic as functioning like a regressive tax. Higher spending on essentials such as gasoline and utilities reduces real disposable income, forcing lower-income consumers to cut back sharply on discretionary items. This shift disproportionately affects retailers, restaurants, and service businesses that cater to working-class customers. Zandi noted earlier that roughly half of U.S. states were operating under recession-like conditions last year, with lower-income households “hanging on by their fingertips.”

Real wage trends have turned negative for many at the bottom of the income scale. The Economic Policy Institute reported that real wages for low-income workers declined 0.3% last year, reversing gains seen in the immediate post-pandemic recovery. Meanwhile, wealthier households have benefited from strong asset price performance, particularly in equities and technology-driven sectors, creating parallel economies that appear increasingly disconnected.

The divergence extends beyond fuel. Elevated home prices and persistently high mortgage rates have made homeownership — long a cornerstone of middle-class wealth building — more elusive for lower- and middle-income families. J.P. Morgan Asset Management global market strategist Jack Manley has observed that the gap between “haves and have-nots” has been widening over multiple years, with housing affordability emerging as a central flashpoint.

Fiscal supports that cushioned households earlier in the year, including enhanced tax refunds tied to provisions in President Trump’s One Big Beautiful Bill Act, are one-time boosts that will not recur. As these temporary lifts fade, the full weight of sustained higher energy costs is landing at a particularly vulnerable moment. Goldman SachsMericle previously pushed back against exaggerated fears of a K-shaped recovery but now acknowledges the data are tilting toward a clearer bifurcation.

Retail sales data for March illustrated the split. Headline figures rose 1.7% month-over-month, but the increase was driven largely by higher nominal spending at gas stations rather than broad-based consumption strength. When automotive and gasoline categories are excluded, underlying trends appear considerably softer. Goldman Sachs expects this weakness to intensify through the second and third quarters unless energy prices retreat meaningfully.

The Strait of Hormuz remains a critical choke point. Its ongoing disruption has kept global oil and refined product flows constrained, with limited prospects for quick resolution following the collapse of peace talks in Islamabad on Saturday. Until supply chains normalize, analysts see little relief ahead for the most vulnerable households.

The broader economic implications are significant. Consumer spending accounts for roughly 70% of U.S. GDP, and sustained pressure on lower-income budgets risks dragging on overall growth. While high-income households and asset markets have shown resilience, the consumption slowdown among the broader population could weigh on corporate earnings, particularly in retail, hospitality, and consumer goods sectors.

Goldman Sachs and other forecasters will be closely watching incoming data on retail sales, inflation, and regional employment trends for further evidence of how deeply the energy shock is reshaping the U.S. economic landscape. For now, the trajectory points to a widening divide that will test both policymakers and businesses in the months ahead.

This story is developing.

JBizNews Desk

Travel & Consumer Costs | Saturday, April 25, 2026 | JBizNews Desk

American travelers planning summer flights are confronting the sharpest rise in airfares in years. The U.S. Bureau of Labor Statistics reported that airline fares jumped 14.9% over the 12 months through March 2026, the largest such increase in four years and one driven overwhelmingly by the disruption of global jet fuel supplies following the U.S.-Israel military campaign against Iran.

The Strait of Hormuz, through which roughly 20% of the world’s oil and a disproportionate share of jet fuel components transit, has been severely restricted since late February when Operation Epic Fury began. Jet fuel, refined from crude oil, has seen prices roughly double in many markets, creating a direct and immediate cost pressure on carriers that is being passed on to passengers.

Beyond tickets, broader travel expenses are climbing. Dining out rose 3.8% year over year, while hotel costs increased 2.1%. Overall Consumer Price Index inflation stood at 3.3% for the 12-month period through March, with the monthly reading surging 0.9% — the biggest one-month jump in four years. Gasoline prices alone accounted for nearly three-quarters of that March increase, spiking 21.2% for the month, while fuel oil jumped 30.7%, the largest monthly gain since February 2000.

The mechanics are unforgiving. Patrick De Haan, head of petroleum analysis at GasBuddy, has warned that even after any ceasefire, relief at the pump and for aviation fuel will come slowly — perhaps only one to three cents per day initially. Asian refineries that supply much of the West Coast’s jet fuel have been particularly hard hit, forcing rerouting and supply shortages that compound the price pressure.

Major carriers are responding aggressively. United Airlines has signaled potential fare increases of 15% to 20% to offset higher fuel costs, while also raising baggage fees. American Airlines cited the conflict directly when it slashed its full-year earnings guidance, warning of a roughly $4 billion increase in fuel-related expenses. Lufthansa cut 20,000 flights, and low-cost carrier Spirit Airlines — already navigating bankruptcy proceedings — is now seeking a $500 million government support package after its restructuring plan became unviable.

For households, the double hit of higher pump prices and pricier air travel is particularly painful. Lower-income families, who already devote a larger share of their budgets to gasoline — as much as 18.3% of wages in some analyses — face compounded pressure when vacation costs rise. Moody’s Analytics noted this week that elevated fuel expenses are eroding anticipated gains in household purchasing power from recent tax measures, neutralizing what had been expected to be a supportive factor for consumer spending.

The ripple effects extend beyond individual budgets. Reduced flight schedules and higher costs threaten to dampen summer travel demand, which traditionally provides a significant lift to sectors including hospitality, retail, and regional economies. European and Asian carriers have also scaled back capacity, creating bottlenecks on transatlantic and transpacific routes that further inflate prices for remaining seats.

With peace talks in Islamabad collapsing on Saturday and no clear timeline for reopening the Strait of Hormuz, analysts expect elevated jet fuel costs to persist through the summer and likely into the fall. Carriers are already adjusting summer schedules, adding fuel surcharges, and trimming less profitable routes. Travelers face a season in which advance booking offers limited protection, as dynamic pricing and surcharges adjust rapidly to fuel market swings.

The Iran conflict has thus produced a textbook supply shock: concentrated, persistent, and difficult to offset in the short term. While consumers may shift some plans toward domestic driving trips or closer destinations, the broader impact on discretionary spending and business travel could weigh on second-half economic growth forecasts.

This story is developing as airlines finalize summer schedules and energy markets monitor diplomatic developments.

JBizNews Desk

Consumer Economy | Saturday, April 25, 2026 | JBizNews Desk

American consumers ended April in a state of historic pessimism. The University of Michigan’s final Index of Consumer Sentiment for the month came in at 49.8 — the lowest reading in the survey’s more than seven-decade history dating back to 1952. The figure undercuts the troughs reached during the 2008 financial crisis, the COVID-19 pandemic lockdown, the 2022 inflation surge, and every other major economic disruption in the modern era.

Joanne Hsu, director of the University of Michigan Surveys of Consumers, noted a modest rebound from the preliminary mid-month reading of 47.6. “After the two-week ceasefire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses,” she said in the report. Even so, the index fell 6.6% from March’s 53.3 and 4.6% from a year earlier. It has now declined for five straight months.

The primary culprit is clear: the U.S.-Israel military campaign against Iran that began in late February, which disrupted the Strait of Hormuz and propelled U.S. gasoline prices above $4 per gallon nationally for the first time in four years. Economists estimate the energy shock has added roughly $857 to average annual household fuel costs so far this year. As Moody’s Analytics observed, higher gasoline and utility prices function like a regressive tax, eroding real disposable income and forcing cutbacks in discretionary spending.

Year-ahead inflation expectations jumped to 4.7% in April from 3.8% in March — the largest one-month increase since President Trump’s tariff announcements in 2025. Long-term expectations also climbed. The combination of realized price pressures, heightened future inflation fears, and geopolitical uncertainty has created a psychological environment that researchers describe as unprecedented in its persistence.

The pain is broad-based but especially acute among lower-income households. Goldman Sachs chief U.S. economist David Mericle highlighted that low-income families spend roughly four times as much of their after-tax income on gasoline as those in the top quintile. This disparity amplifies the impact of the energy shock on working-class budgets.

Broader economic signals reinforce the gloom. The Atlanta Federal Reserve’s GDPNow tracker estimates first-quarter 2026 growth at just 1.3% annualized, down from 1.9% in the fourth quarter of 2025. Retail sales for March rose on the surface, but the gain was largely inflated by higher gasoline prices rather than genuine consumption strength. When stripping out autos and gas, underlying trends appear softer.

Goldman Sachs economists Ronnie Walker, Alec Phillips, and Joseph Briggs warned this week that what had looked like a solid year for consumer spending “has quickly become more challenging,” forecasting potential declines in headline retail sales ahead. Consumer spending accounts for about 70% of U.S. GDP, making the sentiment collapse a material risk for businesses across retail, hospitality, and manufacturing.

The deterioration spans political affiliations, age groups, income brackets, and education levels. Expectations for business conditions over both short and long horizons weakened significantly, approaching levels last seen during the reciprocal tariff rollout a year ago.

For policymakers and corporate leaders, the record-low reading serves as a stark warning. While a fragile ceasefire has eased some immediate supply risks, sustained high energy prices and inflation worries continue to weigh on household confidence. Whether sentiment can stabilize — or reverse — will depend heavily on developments in the Middle East, the trajectory of gasoline prices, and the broader impact of trade policies on everyday costs.

JBizNews Desk

Federal Reserve | Saturday, April 25, 2026 | JBizNews Desk

U.S. Attorney for the District of Columbia Jeanine Pirro announced late Friday that the Department of Justice is dropping its criminal investigation into Federal Reserve Chairman Jerome Powell, eliminating the last major roadblock to President Donald Trump’s effort to install Kevin Warsh as the next leader of the central bank before Powell’s term expires on May 15.

The decision, disclosed by Pirro on X, shifts oversight of the long-running inquiry into the Federal Reserve’s $2.5 billion headquarters renovation project to the central bank’s inspector general. It marks an abrupt policy reversal for Pirro, who as recently as Wednesday had vowed to press ahead with the probe. The move removes the primary obstacle cited by Senate Republicans for delaying Warsh’s confirmation and sets the stage for what could be one of the most consequential leadership changes at the Federal Reserve in decades.

Kevin Warsh, a former Federal Reserve governor and economic adviser to Trump during his first term, appeared before the Senate Banking Committee on April 21. His hearing drew intense scrutiny from both parties over questions of central bank independence, his policy views and his relationship with the president. Sen. Thom Tillis, a North Carolina Republican and influential member of the committee, had placed a hold on advancing the nomination until the Department of Justice investigation was resolved. With that condition now satisfied, Senate aides expect the hold to be lifted quickly, potentially clearing the way for a full confirmation vote as early as next week.

Powell, whose four-year term as chair ends May 15, has previously signaled he would step aside once a successor is confirmed and any pending investigations concluded. The timing is tight: confirmation would need to occur within the next three weeks to allow an orderly transition before the deadline.

Elizabeth Warren, the Massachusetts Democrat who serves as the ranking member on the Senate Banking Committee, denounced the Justice Department’s decision as politically motivated. “Dropping the investigation is nothing more than an attempt to ram through President Trump’s handpicked successor,” she said in a statement. Warren also noted that the DOJ has not dropped a separate probe involving Fed Governor Lisa Cook, whom Trump tried to remove last year and whose status remains before the Supreme Court.

During his confirmation hearing, Warsh walked a careful line. Asked whether he believed Trump had won the 2020 election, he responded only that the results “have been certified.” When pressed by Warren for an example of an economic policy where he diverged from the president, Warsh declined to offer one. On the critical issue of Federal Reserve independence, however, he was direct: “The president never once asked me to commit to any particular interest rate decision, period,” he testified. “Nor would I ever agree to do so. I will be an independent actor if confirmed.”

Trump himself has been less circumspect. In a recent CNBC interview, he said he would be “disappointed” if Warsh did not move quickly to lower interest rates upon taking office. Markets have priced in limited easing this year. CME FedWatch tool data currently implies at most one rate cut for the remainder of 2026, while a recent Reuters poll of economists showed a majority expecting the benchmark rate to remain unchanged through September.

Warsh, who has described himself as an inflation hawk, has in recent writings pushed back against concerns that Trump’s tariff policies will generate persistent price pressures. His elevation would represent a clear shift from the Powell era, which was marked by aggressive rate hikes to combat post-pandemic inflation followed by a cautious approach to cutting rates.

The Federal Reserve renovation project at the center of the now-dropped probe has drawn criticism for years over ballooning costs and delays. Trump personally toured the construction site with Powell last summer and later used the project as a frequent point of attack against the central bank’s leadership and spending practices.

Wall Street’s reaction to the news has been muted so far, with investors focusing more on the near-term policy implications than on the political drama. Treasury yields edged slightly lower in thin Saturday trading, while equity futures pointed to a modestly positive open on Monday. The broader question remains how much influence Trump might exert over monetary policy through Warsh, even as the nominee pledged fidelity to the central bank’s independence.

If confirmed, Warsh would inherit a Federal Reserve navigating a complex environment: moderating inflation that has yet to reach the 2% target on a sustained basis, elevated fiscal deficits, ongoing global trade tensions and the economic ripple effects of Middle East conflicts. His background as both a market participant—having worked at Morgan Stanley—and a policymaker positions him as someone likely to prioritize financial stability and growth alongside inflation control.

The rapid timeline reflects the high stakes for the administration. Installing a new chair before May 15 avoids any period of leadership uncertainty at the world’s most powerful central bank and allows Warsh to participate in the June policy meeting as chairman. Whether he can maintain the delicate balance between political expectations and institutional credibility will define the early months of his tenure.

This story is developing as Senate leadership finalizes the confirmation schedule.

JBizNews Desk

Media & Entertainment | Saturday, April 25, 2026 | JBizNews Desk

Warner Bros. Discovery (NASDAQ: WBD) shareholders voted overwhelmingly on Thursday, April 23, to approve the company’s $110 billion acquisition by Paramount Skydance, clearing a major procedural hurdle in what would become one of the largest media mergers in U.S. history. However, by Friday’s close and into Saturday trading, Paramount Skydance (NASDAQ: PSKY) stock had fallen approximately 4.5%, closing around $10.97–$11.27, as investors shifted focus to the deal’s heavy debt burden—estimated at more than $54 billion in financing that will weigh on the combined entity.

The shareholder vote was not close. Roughly 1.743 billion shares were cast in favor versus only about 16.3 million against, a margin exceeding 100-to-1. Boards of both companies had unanimously backed the transaction. WBD CEO David Zaslav described it as a “key milestone” delivering value to stockholders. WBD shareholders will receive $31 per share in cash upon closing—a significant premium that helped secure the strong approval.

Paramount Skydance CEO David Ellison has sought to reassure Hollywood stakeholders with commitments to maintain theatrical windows (at least 45 days before streaming), sustain robust film output (targeting around 30 films annually across the combined studios), and preserve Warner Bros. Pictures as a distinct creative entity. The deal, which prevailed over competing interest from Netflix after a heated bidding process, values WBD at roughly $81 billion in equity plus debt, for a total enterprise value near $110–$111 billion.

Markets reacted negatively to the financial structure, widely described as one of the largest leveraged media deals ever. The transaction relies heavily on debt financing, raising concerns about the combined company’s ability to service obligations amid streaming competition, advertising market pressures, and broader economic factors. Paramount’s shares have shown high volatility over the past year, reflecting ongoing uncertainty in the sector.

The merger still requires regulatory approvals from the U.S. Department of Justice and international bodies (including European antitrust regulators). Both companies anticipate closing in the third quarter of 2026, subject to those clearances. Hollywood has voiced mixed reactions, with some filmmakers and producers worried about content consolidation, reduced creative opportunities, and diminished competition.

If completed, the deal would create a media powerhouse encompassing Warner Bros.’ iconic film and TV library, HBO, Max, CNN, DC Studios, TNT, TBS, Cartoon Network, plus Paramount’s assets including CBS, MTV, Nickelodeon, BET, Paramount+, and its film studio. The central challenge for David Ellison and the new leadership will be unlocking synergies from this vast library while managing the substantial debt load in an evolving media landscape.

This story remains developing as regulatory reviews proceed and markets digest the implications.

JBizNews Desk

Markets Closing Bell | Friday, April 24, 2026 | JBizNews Desk

Wall Street closed out one of the most consequential trading weeks of 2026 with a split but powerful finish on Friday, as surging semiconductor stocks propelled the S&P 500 and Nasdaq to fresh record highs while easing geopolitical tensions tied to renewed U.S.-Iran diplomacy pressured energy markets and weighed on the Dow.

The session underscored the defining market dynamic of April: exceptional corporate earnings momentum—led by artificial intelligence and semiconductor demand—offsetting the macroeconomic drag of a prolonged geopolitical conflict that has disrupted one of the world’s most critical energy corridors. Investors leaned into growth and technology, even as global risks remained elevated.

Globally, markets reflected that tension. Asian equities traded lower overnight amid uncertainty surrounding U.S.-Iran negotiations, before sentiment improved late in the U.S. session as diplomatic signals strengthened. Brent crude settled below $100 per barrel, down sharply from its April 7 peak near $115, as Pakistani-mediated talks raised expectations for a potential ceasefire. West Texas Intermediate crude hovered near $95, while gold closed at $4,732. The 10-year U.S. Treasury yield held steady near 4.31%. Meanwhile, the University of Michigan Consumer Sentiment Index registered a final April reading of 49.8—its lowest level on record—highlighting the persistent strain on households from elevated fuel costs and geopolitical uncertainty.

Against that backdrop, U.S. equities showed notable resilience. The S&P 500 rose 53.33 points, or 0.75%, to close at 7,161.73, marking its fourth consecutive weekly gain. The Nasdaq Composite surged 389 points, or 1.59%, to 24,827.12, setting a new all-time high. The Dow Jones Industrial Average slipped 120.74 points, or 0.24%, to 49,190.10, as weakness in traditional blue-chip sectors offset the technology rally. The Philadelphia Semiconductor Index (SOX) extended its remarkable run, advancing for an 18th straight session, while the CBOE Volatility Index (VIX) eased to around 19, down significantly from recent highs—signaling a measured decline in near-term market anxiety.

Corporate earnings continued to anchor the rally. According to data compiled by market analysts, approximately 81% of S&P 500 companies reporting so far have exceeded profit expectations, with 76% beating revenue estimates—an unusually strong performance that has helped sustain investor confidence despite global uncertainty.

The standout catalyst of the day was Intel Corp. (NASDAQ: INTC), which surged more than 23% following a blowout earnings report that exceeded Wall Street expectations and pointed to a resurgence in demand driven by AI-enabled computing workloads. The rally marked Intel’s strongest single-day gain in decades and pushed the stock above levels not seen since the dot-com era, reigniting enthusiasm across the semiconductor sector.

Nvidia Corp. (NASDAQ: NVDA) added to the momentum, climbing roughly 5% to a new all-time high and reclaiming a market valuation above $5 trillion. The move reaffirmed Nvidia’s position at the center of the global AI buildout, as demand for advanced chips continues to outpace supply.

The ripple effects extended across the chip ecosystem. Advanced Micro Devices Inc. (NASDAQ: AMD) jumped nearly 14%, bolstered by both Intel’s results and a bullish analyst upgrade pointing to broader CPU demand strength. Arm Holdings plc (NASDAQ: ARM) rose more than 15%, while Qualcomm Inc. (NASDAQ: QCOM) gained over 10%, reflecting broad-based investor conviction in AI infrastructure growth.

In the infrastructure layer, MaxLinear Inc. (NASDAQ: MXL) surged following strong revenue growth tied to optical connectivity demand in hyperscale data centers. Meanwhile, X-Energy Inc. (NASDAQ: XE) made a high-profile Nasdaq debut, raising more than $1 billion in the largest nuclear IPO on record. The stock closed up over 30%, highlighting growing investor interest in energy solutions tied to AI-driven electricity demand.

Outside of technology, results were more mixed. Procter & Gamble Co. (NYSE: PG) rose over 3% after delivering better-than-expected earnings and signaling stable U.S. consumer demand, with CFO Andre Schulten describing conditions as “stable.” The company also reaffirmed its dividend outlook. In contrast, Comcast Corp. (NASDAQ: CMCSA) fell nearly 8% after an analyst downgrade citing structural pressures in the cable business, while HCA Healthcare Inc. (NYSE: HCA) dropped more than 8% after warning that storm-related disruptions would weigh on full-year profits.

Late-session momentum received an additional boost from geopolitical developments. Officials in Islamabad confirmed that Iranian Foreign Minister Abbas Araqchi had arrived for discussions aimed at restarting U.S.-Iran negotiations. The White House, through Press Secretary Karoline Leavitt, confirmed that Steve Witkoff and Jared Kushner will travel to Pakistan to participate in talks. The development marked the most tangible diplomatic progress since the ceasefire extension earlier in the week, helping to push oil prices lower and support equities into the close.

For the week, both the S&P 500 and Nasdaq recorded their fourth consecutive gains, entering the final stretch of April with strong upward momentum. However, the outlook remains tightly balanced. A critical wave of earnings from Meta Platforms Inc., Microsoft Corp., and Apple Inc. looms in the coming days, while the trajectory of U.S.-Iran negotiations will continue to influence energy markets and global risk sentiment.

Markets now stand at a pivotal intersection—driven higher by historic earnings strength, yet still exposed to geopolitical developments that could shift the macro landscape quickly. The coming week is poised to test whether the rally can sustain its pace or whether external risks begin to reassert themselves.

JBizNews Desk

Defense & Energy | Friday, April 24, 2026 | JBizNews Desk

The Pentagon signaled a major escalation in U.S. strategy toward Iran on Friday, as Secretary of Defense Pete Hegseth outlined a sweeping expansion of naval enforcement operations that now extend far beyond the Middle East, transforming what began as a regional containment effort into a global pressure campaign targeting Tehran’s economic lifelines.

Speaking at a Pentagon briefing alongside Air Force Gen. Dan Caine, Chairman of the Joint Chiefs of Staff, Hegseth described the operation—dubbed Operation Epic Fury—as “ironclad,” with U.S. naval forces now actively enforcing restrictions on Iranian-linked shipping routes across multiple oceans. “They can watch their regime’s fragile economic state collapse under the unrelenting pressure of American power,” Hegseth said, framing the blockade as a calculated effort to cut off Iran’s ability to export oil, generate foreign currency, and sustain core government functions.

The expanded operation reflects a strategic shift from geographic containment at the Strait of Hormuz to a broader interdiction model. U.S. Navy forces are now monitoring and, where necessary, turning back vessels tied to Iranian ports or cargo flows regardless of location. Pentagon officials confirmed that 34 non-Iranian vessels have been cleared to proceed after inspections, while multiple tankers have been stopped and boarded since enforcement began.

The global reach of the campaign was underscored this week by the interception of two Iranian “Dark Fleet” vessels in the Indo-Pacific, according to Pentagon officials. These ships—part of a loosely regulated network used to transport sanctioned oil outside traditional monitoring systems—had departed Iranian ports prior to the enforcement window but were nonetheless seized. The move signals Washington’s intent to enforce restrictions well beyond traditional chokepoints and into open ocean transit routes.

At the same time, U.S. military posture in the region continues to intensify. Hegseth confirmed that a second U.S. aircraft carrier will join the operation in the coming days, adding to an already substantial presence that includes the USS Abraham Lincoln, USS Gerald R. Ford, and USS George H.W. Bush carrier strike groups. Collectively, the deployment represents one of the largest concentrations of U.S. naval power in the region in decades, with more than 200 aircraft and approximately 15,000 personnel operating across multiple theaters.

Hegseth emphasized that the current approach is designed to achieve strategic objectives without immediate escalation into broader direct conflict. “The blockade is the polite way this can go,” he said, signaling that economic and logistical pressure is intended to force a shift in Tehran’s nuclear posture. At the same time, he made clear that military options remain active, noting U.S. forces are prepared to act if necessary under directives from President Donald Trump.

The briefing also included a firm warning on maritime security. “We will shoot to destroy. No hesitation,” Hegseth said, referring to Iranian efforts to deploy naval mines or threaten commercial shipping lanes. Pentagon officials indicated that rules of engagement have been tightened to allow rapid response against any perceived threats to international shipping, particularly in and around the Strait of Hormuz.

Energy markets are already reflecting the impact. Brent crude prices have climbed above $102 per barrel, as traders assess the risk of prolonged disruption to one of the world’s most critical energy corridors. According to data from the U.S. Energy Information Administration, roughly 20% of global oil and a significant portion of liquefied natural gas flows through the Strait of Hormuz—most of it bound for U.S. allies in Asia.

Hegseth also directed pointed remarks toward international partners, urging greater participation in enforcement efforts. “The time for free riding is over,” he said, noting that Europe and Asia remain significantly more dependent on Gulf energy flows than the United States. The comments come as several economies—including Germany and key Southeast Asian nations—face mounting energy pressures linked to ongoing disruptions.

The broader economic implications are beginning to materialize across global supply chains. Shipping costs, insurance premiums, and fuel prices have all moved higher in recent weeks, creating ripple effects for industries ranging from manufacturing to aviation. Analysts say the longer the current restrictions remain in place, the more deeply those costs will embed into global pricing structures.

For Washington, the objective remains clear: leverage economic pressure and military positioning to force a strategic recalibration in Tehran without triggering a wider conflict. For markets and multinational businesses, however, the situation introduces a new layer of uncertainty—one where geopolitical risk is directly shaping the cost and flow of global trade.

As the operation expands and additional forces come online, attention will shift to whether Iran responds through escalation, negotiation, or alternative trade channels. The outcome will not only determine the next phase of the conflict but also set the tone for how economic warfare is deployed in future geopolitical confrontations.

JBizNews Desk

Lyft Inc. is making a decisive push into Europe’s largest ride-hailing market, acquiring the United Kingdom taxi operations of Gett in a deal valued at approximately $50 million — a move that significantly strengthens its position in London and accelerates its international expansion strategy.

The acquisition hands Lyft access to roughly three-quarters of London’s iconic black cab drivers, dramatically expanding its footprint in a market long dominated by Uber Technologies Inc. and local competitors. The deal, which is subject to standard regulatory approvals, is expected to close within the coming weeks, according to people familiar with the transaction.

For Lyft, the move represents a strategic shortcut into a tightly regulated and highly competitive market. By integrating Gett’s established network, the company avoids the years-long process of building driver relationships and navigating London’s complex licensing framework from scratch.

Lyft executives have signaled that the transition for users will be gradual. Existing Gett customers will continue to use the current app in the near term, while Lyft begins integrating operations into its broader European platform. Over time, Gett’s UK business is expected to be folded into Lyft’s Freenow network, which already operates across more than 180 cities in nine European markets.

The combined platform is expected to create one of the most comprehensive urban mobility networks in London, spanning traditional black cabs, ride-hailing vehicles, and micromobility offerings. Lyft already has a foothold in the city through its role powering the Santander Cycles bike-share program, and the company has indicated plans to expand further into next-generation transport.

A key part of that strategy includes autonomous vehicles. Lyft is preparing to launch self-driving ride testing in London later this year in partnership with Chinese technology company Baidu Inc., positioning itself among a small group of global platforms aiming to operate both human-driven and autonomous fleets within the same urban ecosystem.

The competitive implications are significant. With the addition of Gett’s driver base, Lyft will be better positioned to challenge Uber CEO Dara Khosrowshahi’s dominance in London, while also putting pressure on Bolt Technology OU and other regional players. Analysts say the scale of the combined Lyft-Gett-Freenow network could shift pricing power and driver availability in Lyft’s favor.

On the Israeli side, the transaction marks a strategic retreat from international operations for Gett, a company originally founded in Tel Aviv that once pursued aggressive global expansion. The UK business had struggled to achieve consistent profitability, weighed down by high operating costs and intense competition.

The decision to divest aligns with the strategy of Gett’s new ownership group, which acquired the company last year for approximately $188 million. Investors — including Leumi Partners, Mizrahi Tefahot Bank, and Phoenix Financial Ltd. — had reportedly identified the UK unit as a non-core asset even before completing the acquisition.

Following the sale, Gett will refocus exclusively on its Israeli operations, where management sees stronger margins and clearer growth opportunities. The company is expected to expand into adjacent transportation and mobility services within Israel, leveraging its established brand and customer base.

Post-transaction, Gett is projected to retain net assets of roughly $70 million, while significantly reducing its exposure to loss-making international markets. The restructuring effectively transforms the company into a leaner, domestically focused operator — a shift that investors believe will improve profitability and long-term stability.

The deal underscores a broader trend reshaping the global ride-hailing industry: consolidation and strategic retrenchment. As capital becomes more disciplined and profitability takes precedence over rapid expansion, companies are increasingly focusing on core markets while shedding underperforming international assets.

For Lyft, the acquisition signals a renewed willingness to compete aggressively beyond the United States. For Gett, it marks the end of its global ambitions — and the beginning of a more focused, Israel-centered chapter.

JBizNews Desk- London

WASHINGTON, D.C. — President Donald Trump is openly entertaining an extraordinary federal intervention in the U.S. airline industry, signaling that the government could take control of bankrupt Spirit Airlines Inc. and later sell it for a profit, as his administration moves closer to finalizing a $500 million rescue package aimed at preventing the discount carrier’s collapse.

“I think we’d just buy it,” Trump said in an interview with CNBC on Tuesday, framing the potential move as both a jobs-saving measure and a strategic investment. “You know, Spirit’s in trouble, and I’d love somebody to buy Spirit. It’s 14,000 jobs, and maybe the federal government should help that one out,” he added, underscoring the administration’s willingness to intervene in a sector historically left to private markets.

People familiar with the negotiations say the Trump administration is now in advanced talks to structure a financing package that would keep Spirit operating through bankruptcy, with terms that could ultimately hand Washington a controlling equity stake. The proposed deal centers on roughly $500 million in government-backed financing, structured initially as a loan that would later convert into a longer-term instrument upon Spirit’s emergence from Chapter 11.

According to individuals briefed on the plan, the financing would likely include warrants that could give the U.S. government up to a 90% ownership stake in Spirit Airlines — a level of control rarely seen outside of crisis-era bailouts. Administration officials argue the structure mirrors past interventions designed to stabilize critical industries while preserving taxpayer upside, with one senior official noting the goal is to “protect jobs now and recover value later.”

Confirmation that a deal is imminent came during a bankruptcy court hearing Thursday, where a Spirit Airlines attorney told the court the company is “close to securing” a federal rescue package. A person familiar with the negotiations said an announcement could come within days, ahead of a tentative April 30 court hearing where the terms of the agreement may be formally reviewed.

The proposal, however, is already exposing divisions within the administration. Transportation Secretary Sean Duffy publicly raised concerns about the risks of committing taxpayer funds to a carrier that has struggled to achieve sustained profitability. “What we don’t want to do is put good money after bad,” Duffy said. “There’s been a lot of money thrown at Spirit, and they haven’t found their way into profitability,” he added, reflecting broader skepticism among some policymakers about the long-term viability of ultra-low-cost carriers under current market conditions.

The White House has pushed back forcefully, placing responsibility for Spirit’s financial distress on prior regulatory decisions. Kush Desai, a White House spokesman, said in a statement that “Spirit Airlines would be on a much firmer financial footing had the Biden administration not recklessly blocked the airline’s merger with JetBlue,” referring to the antitrust challenge that derailed the proposed consolidation — a deal industry analysts had argued could have provided Spirit with scale and financial stability.

Beyond regulatory headwinds, macroeconomic pressures have sharply intensified the airline’s challenges. Administration officials and industry analysts point to the ongoing Iran conflict as a major driver of rising costs, particularly jet fuel. According to energy market data, jet fuel prices have roughly doubled since the escalation of hostilities, compressing margins across the airline industry and disproportionately impacting lower-cost carriers like Spirit that operate with thinner financial buffers.

“Fuel is the single biggest swing factor for these airlines,” said one aviation analyst familiar with Spirit’s restructuring efforts. “When you combine that with debt from prior restructurings and failed merger attempts, it creates a very narrow path forward without external support,” the analyst added.

Spirit’s financial trajectory has been particularly volatile. The airline has entered bankruptcy proceedings twice since 2025 following the collapse of merger efforts with JetBlue Airways Corp., leaving it struggling to stabilize operations amid mounting costs and competitive pressures. The company had been aiming to exit Chapter 11 by early summer, but deteriorating market conditions and higher fuel expenses have complicated those plans.

A successful government-backed restructuring would allow Spirit to continue operating and avoid what would be the first major U.S. airline liquidation in more than two decades — a scenario that industry observers warn could ripple across regional labor markets and low-cost travel segments. “Losing a carrier like Spirit would have real consequences for pricing and accessibility, especially for budget-conscious travelers,” one industry executive said.

Still, the scale and structure of the proposed intervention raise broader questions about the role of government in private markets. While supporters argue the move is justified to preserve jobs and maintain competition, critics warn it could set a precedent for future bailouts in industries facing cyclical pressures rather than systemic collapse.

For now, all eyes are on the upcoming bankruptcy court proceedings, where the contours of the deal are expected to come into sharper focus. If finalized, the Spirit rescue would mark one of the most aggressive federal interventions in the airline industry since the post-9/11 era — and potentially reshape how Washington approaches distressed private-sector companies in a higher-cost, geopolitically volatile economic environment.

What comes next will be critical: whether the government can stabilize Spirit without distorting the competitive landscape — and whether taxpayers ultimately see a return on what could become one of the most unconventional airline investments in modern U.S. history.

JBizNews Desk

Trump ‘Gold Card’ Visa Approved for Just One Applicant So Far, Lutnick Tells Congress

WASHINGTON, D.C. — The Trump administration’s flagship “Gold Card” visa program has approved just a single applicant since its launch late last year, a strikingly slow rollout that Commerce Secretary Howard Lutnick acknowledged Thursday in testimony before Congress — even as hundreds of applications remain under review.

Speaking before the House Appropriations Committee, Lutnick confirmed that only one foreign national has successfully cleared the program’s rigorous screening process and secured U.S. permanent residency through the initiative, which requires a $1 million contribution to the federal government. The identity of that applicant has not been disclosed. “This is a new program, and they’ve just set it up,” Lutnick told lawmakers. “They wanted to make sure they did it perfectly… it’s a DHS program conducted with rigorous, rigorous vetting.

The program, formally launched through Executive Order 14351 signed by President Donald Trump in September 2025, is designed to offer a fast-track pathway to U.S. residency for wealthy foreign nationals willing to make a substantial financial contribution. It has been positioned by administration officials as a modernized, more flexible alternative to the long-standing EB-5 immigrant investor visa program.

Under the structure outlined by the administration, applicants must first pay a nonrefundable $15,000 processing fee to the Department of Homeland Security, which oversees vetting under Secretary Kristi Noem. Only after passing extensive background checks — which Lutnick has described as “the most rigorous vetting that’s ever been done on new people coming to America” — are candidates permitted to proceed with the $1 million contribution required for final approval.

Despite early expectations of strong global demand, the program’s pace has raised questions on Capitol Hill and among immigration experts. By mid-2025, Lutnick had indicated that nearly 70,000 individuals had joined a waitlist expressing interest in the program. The gap between that initial demand and the lone approval disclosed Thursday underscores the complexity of building a new immigration pathway largely from scratch within existing legal frameworks.

The administration has structured the Gold Card program to operate within current visa categories — specifically EB-1 (extraordinary ability) and EB-2 (national interest waiver) classifications — rather than creating an entirely new statutory visa class. The executive order directs agencies including Commerce, Homeland Security, and the State Department to treat a large financial “gift” to the United States as supporting evidence for eligibility under those categories.

That legal architecture has become a central point of contention. Critics argue that the executive branch may be overstepping its authority by effectively redefining congressionally established immigration standards. Tammy Fox-Isicoff, an immigration attorney at Rifkin & Fox-Isicoff PA, said bluntly: “Congress makes laws, not the President. Nothing about this program was done lawfully, including the application form.

Other legal experts echoed similar concerns. Ronald Klasko, a founding partner at Klasko Immigration Law Partners, warned that the program could face significant judicial risk if courts determine plaintiffs have standing. “There is a good chance that the Gold Card will be found to be unlawful… including the lack of a statutory amendment passed by Congress,” Klasko said, also pointing to the absence of formal regulatory procedures under the Administrative Procedure Act.

The American Immigration Lawyers Association has also weighed in. Shev Dalal-Dheini, the group’s director of government relations, emphasized that structural changes to visa categories require legislative action. “Whether you create a new category or get rid of a different category, you need a statute to do so,” she said.

Legal challenges are already underway. A federal lawsuit filed in February by the American Association of University Professors, joined by immigrant researchers, argues that the program unlawfully prioritizes wealth over merit and circumvents congressional authority. The case is expected to test the limits of executive power in immigration policy — particularly whether financial contributions can substitute for statutory eligibility criteria.

The program also introduces a corporate sponsorship tier, allowing companies to back foreign employees. Under this structure, firms pay a $15,000 processing fee per applicant and a $2 million contribution upon approval, along with ongoing maintenance and transfer fees. Administration officials have framed this feature as a tool to attract top global talent and strengthen U.S. competitiveness.

At the same time, the Gold Card initiative has stirred concern within the existing EB-5 ecosystem. The EB-5 program, established by Congress in 1990 and reauthorized in 2022 through the Reform and Integrity Act, includes investor protections — including a grandfathering provision for applicants filing before September 30, 2026. The Gold Card program, created via executive order, does not offer the same statutory safeguards.

For now, the administration is defending the slow pace as a deliberate choice rather than a flaw. Lutnick reiterated that the program’s revenue and broader economic impact will ultimately be determined by how funds are deployed. “Its terms are for the betterment of the United States of America,” he told lawmakers. “It needs to be for commerce and the betterment of the United States of America.

Still, with only one approval against a backdrop of tens of thousands of prospective applicants, the program’s future may hinge less on demand and more on legal durability. As Congress intensifies oversight and the courts begin to weigh in, the Gold Card initiative is shaping up to be not just an immigration experiment — but a defining test of how far executive authority can stretch in reshaping the U.S. economic immigration system.

JBizNews Desk

Treasury Secretary Scott Bessent said the U.S. economy could still expand by more than 3% this year even as the International Monetary Fund cut its global outlook and warned that a deeper Middle East conflict could damage growth through higher energy prices. Speaking at a Wall Street Journal event in Washington on April 14, Bessent said, “I think the underlying economy remains strong,” adding, “I do think that the growth could easily exceed 3 percent, 3.5 percent this year, still,” according to remarks reported by the Wall Street Journal and other outlets covering the event.

The upbeat assessment landed just as the IMF struck a more cautious tone on the world economy. In its latest public update on April 14, the fund said an escalation in the Iran conflict and a sustained rise in oil prices could materially weaken global activity, with IMF economists warning that the world economy could move closer to recession under a more severe shock scenario. In the fund’s published analysis, Pierre-Olivier Gourinchas, the IMF’s chief economist, said geopolitical tensions “could lead to renewed supply disruptions and higher commodity prices,” a risk that matters because inflation pressures had only recently begun to ease in many major economies.

President Donald Trump moved quickly to push back on fears that the conflict would fuel a fresh inflation spike, arguing that energy costs would retreat. Trump said oil prices would “fall sharply” and suggested the inflation impact would prove limited, according to public remarks cited by major U.S. media including Reuters. That message aligns with the administration’s broader effort to reassure markets that the U.S. expansion can withstand geopolitical shocks, even as crude traders and economists monitor whether any disruption to regional supply routes becomes more than temporary.

The divergence between Bessent’s confidence and the IMF’s warning underscores the central economic question for executives and investors: whether the U.S. can keep outrunning a softer global backdrop. The IMF said in its update that global growth risks had tilted further to the downside, while Reuters reported that policymakers and analysts increasingly view oil as the key transmission channel from the conflict into broader inflation and consumer spending. Bessent, by contrast, framed the domestic picture as resilient, pointing to what he described as strong underlying momentum in the U.S. economy during his Wall Street Journal appearance.

That resilience faces a practical test in the months ahead through fuel costs, freight rates and business confidence. Economists have long argued that a sustained oil shock acts like a tax on households and companies, and the IMF reiterated that point in warning that higher energy prices could slow demand while complicating central-bank efforts to return inflation to target. In comments published by the fund, Gourinchas said policymakers face “a more difficult trade-off” if commodity prices rise again, because growth would weaken even as inflation pressure reappears.

Market participants, for now, appear to share part of Bessent’s view that the U.S. enters the latest geopolitical flare-up from a position of relative strength. Recent U.S. data on employment and consumer activity had signaled continued expansion, and Reuters and Bloomberg both noted in recent coverage that traders have treated any energy spike as potentially manageable unless supply disruptions broaden. Still, economists cited by CNBC and Reuters have warned that confidence can deteriorate quickly if oil remains elevated long enough to squeeze transport, manufacturing and household budgets.

The policy implications extend beyond growth forecasts. If oil prices stay high, the Federal Reserve could face renewed pressure to keep interest rates restrictive for longer, even if headline growth slows. Officials at the central bank have repeatedly said they need greater confidence that inflation will return sustainably to 2%, and public remarks from Federal Reserve policymakers in recent months have emphasized sensitivity to commodity-driven price shocks. That makes Bessent’s optimism more than a headline number: a stronger-than-expected U.S. economy would give the administration political cover, but it could also leave borrowing costs higher if inflation proves sticky.

For corporate leaders, the more immediate issue lies in whether the conflict remains contained. The IMF’s warning made clear that a limited disturbance in energy markets differs sharply from a prolonged disruption that affects shipping lanes or regional production. In its analysis, the fund said a more severe escalation could produce “significant adverse effects” on global output, language that investors typically read as a signal to watch not only oil benchmarks but also insurance costs, logistics bottlenecks and emerging-market vulnerabilities. Reuters similarly reported that the economic fallout would depend heavily on the duration and breadth of the conflict rather than the initial shock alone.

What comes next will determine whether Bessent’s 3%-plus call looks prescient or overly confident. If oil prices ease as Trump predicted, the U.S. could preserve stronger growth than many peers even as the IMF trims global expectations. If the conflict deepens and energy stays elevated, the fund’s warning about weaker growth and renewed inflation pressure could move from scenario analysis to baseline risk. For markets, policymakers and boardrooms, that gap between resilience and vulnerability now stands as one of the most important economic variables of the year.

JBizNews Middle East Desk

Gold and silver prices declined sharply Thursday morning, as a surge in global oil prices and stalled U.S.-Iran negotiations redirected investor focus away from traditional safe-haven assets and toward energy markets, underscoring how geopolitical risk is being priced in across commodities.

Spot gold fell to approximately $4,707 per troy ounce, extending losses after briefly climbing above $4,750 a day earlier following President Donald Trump’s extension of the Iran ceasefire. The pullback reflects a combination of near-term headwinds, including a firmer U.S. dollar, rising oil prices, and uncertainty surrounding the Senate confirmation process for Federal Reserve Chair nominee Kevin Warsh, whose policy stance could reshape the interest rate outlook.

Silver experienced an even steeper decline. Spot silver dropped to around $76.97 per ounce, marking a roughly 2% fall over the past 24 hours. The metal is now down more than 15% since the onset of the U.S.-Iran conflict, reflecting a sharp reversal from its earlier rally as both safe-haven demand and expectations for near-term industrial growth weaken.

The selloff comes despite what would typically be a supportive macro backdrop for precious metals. Over the past year, gold has surged more than 41%, reaching a record high of $5,602.22 per ounce on January 28, 2026. Silver similarly hit an all-time high of $121.67 one day later before geopolitical developments began to alter market dynamics. The divergence highlights how rapidly capital flows can shift when competing macro forces intensify.

At the center of the current market rotation is inflation — and more specifically, energy-driven inflation. Brent crude rose to $102.83 per barrel, while West Texas Intermediate climbed to $93.80, as Iran maintained control over the Strait of Hormuz and continued restricting maritime traffic. Reports of Iranian forces firing on commercial vessels this week, combined with ongoing U.S. enforcement actions in the region, have reinforced concerns about supply disruptions in one of the world’s most critical energy corridors.

Gaurav Garg, a research analyst at Lemonn Markets, said the move reflects a broader repositioning across asset classes. Traders, he noted, are recalibrating portfolios as oil prices climb and the ceasefire remains uncertain, creating a volatile mix of currency movements and commodity shifts that have weighed on gold and silver despite elevated geopolitical risk.

The key variable, however, remains the Federal Reserve. Elevated energy prices risk keeping inflation higher for longer, potentially forcing policymakers into a more restrictive stance. Higher interest rates typically reduce the appeal of non-yielding assets such as gold and silver, amplifying downside pressure even in periods of uncertainty.

Silver has also been particularly sensitive to developments in Washington. During his Senate confirmation hearing, Kevin Warsh emphasized the need for an independent and disciplined monetary policy framework to address persistent inflation, comments that markets interpreted as potentially hawkish. The prospect of tighter financial conditions added to selling pressure across precious metals.

Even with the latest declines, long-term performance remains striking. Gold is still up more than 41% year-over-year and nearly 6% over the past month, while silver has surged approximately 131% over the same annual period. The gold-to-silver ratio widened to 61.1, reflecting silver’s sharper pullback and its dual exposure to both industrial demand and monetary policy expectations — a pattern analysts say is common during periods when energy shocks dominate market sentiment.

Market participants increasingly view the current environment as a competition between fear trades. While gold has traditionally served as the primary hedge against instability, oil has taken center stage as the more immediate risk signal, driven by tangible supply constraints and real-time geopolitical escalation.

The path forward for precious metals will likely hinge on developments in the Middle East. Any credible progress toward reopening the Strait of Hormuz or easing tensions could quickly redirect capital flows back into gold and silver. Conversely, sustained disruption in energy markets may continue to suppress metals in favor of oil-linked assets.

For now, markets are making a clear statement: in the hierarchy of global risk, energy security is taking precedence over monetary hedging. At $102 per barrel, the pressure point is not in the gold vault — it is in the oil supply chain.

J-BizNews Desk -MARKETS & COMMODITIES


The agency’s three-pillar reform agenda targets disclosure burdens, litigation risks, and shareholder activism, aiming to reverse a decades-long decline in public listings

WASHINGTONPaul S. Atkins, Chairman of the U.S. Securities and Exchange Commission, is moving swiftly to revive America’s initial public offering market, making it the central priority of his tenure as he advances a sweeping regulatory overhaul aimed at lowering barriers to going public.

A Market in Long-Term Decline

Speaking at the U.S. Chamber of Commerce in February, Atkins laid out the magnitude of the challenge. In the mid-1990s, shortly after his earlier tenure at the SEC, more than 7,800 companies were listed on U.S. exchanges. Today, that number has fallen by roughly 40% — a shift he attributes to decades of accumulating regulation that have made public listings more costly, complex, and less appealing, particularly for emerging growth companies.

“Such decline was not inevitable — nor is it now irreversible,” Atkins said, framing his broader push to restore the strength and competitiveness of U.S. capital markets.

A Three-Pillar Reform Strategy

At the center of Atkins’ agenda is a comprehensive three-pillar framework: reorienting corporate disclosures around financial materiality, reducing the growing influence of shareholder activism on corporate governance, and creating alternatives to what he describes as excessive and often frivolous litigation.

The proposed overhaul of disclosure rules could prove the most consequential. Christina Thomas, Deputy Director and Chief Advisor on Disclosure Policy at the SEC’s Division of Corporation Finance, signaled openness to sweeping changes at the agency’s annual conference, stating that “the door is very much open” to revisiting key frameworks such as Regulation S-K and Rule 14a-8 governing shareholder proposals. “Everything is on the table,” she said.

Among the changes under consideration are efforts to anchor disclosure requirements strictly to financial relevance, tailor reporting obligations based on company size and stage of growth, and streamline executive compensation disclosures, which critics argue have expanded significantly without delivering clearer insight to investors.

Litigation Reform Takes Center Stage

On the legal front, Atkins has identified what he calls “vexatious litigation” as a significant deterrent to companies entering public markets. He has pointed to high-profile firms such as SpaceX and OpenAI as examples of companies choosing to remain private amid regulatory and legal complexity.

To address this, the SEC is evaluating whether to clarify its position on mandatory arbitration provisions in corporate charters — a move that could give companies greater flexibility to resolve disputes outside traditional securities litigation.

Additional proposals include a “loser-pays” model for shareholder lawsuits and a potential “safe harbor” provision that would shield companies from liability tied to broadly known macroeconomic or global events.

Wall Street Signals Support

The initiative has drawn early backing from Wall Street. David Solomon, Chief Executive of Goldman Sachs Group Inc. (NYSE: GS), has engaged with Atkins on what both have described as the potential for a renewed IPO cycle in the coming years.

Solomon has framed the evolving regulatory landscape as an “unleashing of animal spirits,” pointing to the possibility that reduced friction could encourage more companies to tap public markets.

Central to that outlook is expanding the IPO “on-ramp” established under the JOBS Act, which allows newly public companies to operate under scaled disclosure requirements, as well as revisiting the definition of accredited investors to broaden access to private and alternative investments.

The ACT Framework

On April 20, Atkins formally introduced the SEC’s new “ACT” strategy — Advance, Clarify, Transform — marking a shift away from what he characterized as a prior “regulation-by-enforcement” approach toward a framework focused on clarity, collaboration, and modernization.

Atkins emphasized that the agency’s role should be to increase the cost of fraud and market manipulation — not the burden of compliance.

“Updating the rulebook does not mean deviating from the SEC’s core mission,” he said. “It means fulfilling it with tools that are equal to the task.”

Looking ahead, the success of Atkins’ overhaul will hinge on whether these reforms can materially reduce the friction of going public — and restore confidence in U.S. capital markets as the premier destination for high-growth companies.

JBizNews Desk

The U.S. economy nearly stalled at the end of 2025, with growth revised lower to an annualized 0.5% in the fourth quarter, a sign that demand lost momentum even before policymakers confront the next round of inflation and labor-market data. In its third and final estimate released Wednesday, the Bureau of Economic Analysis said “real gross domestic product increased at an annual rate of 0.5 percent in the fourth quarter of 2025,” down from the prior 0.7% estimate, with the agency stating that the revision “primarily reflected downward revisions to consumer spending and private inventory investment.”

The softer reading matters because household demand has carried much of the expansion, and the latest revision suggests that engine cooled more sharply than earlier estimates indicated. The BEA said “the increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and investment,” while noting that those gains faced pressure from trade, as “imports, which are a subtraction in the calculation of GDP, increased.” Reporting on the release, Reuters said the downgrade pointed to a more fragile handoff into 2026 after growth slowed markedly from earlier in the year.

The details showed consumers still spending, but with less force than previously thought, a key concern for executives and investors tracking whether high borrowing costs and fading excess savings continue to restrain activity. In its release, the Bureau of Economic Analysis said personal consumption expenditures remained a positive contributor, while business investment also added to output. Economists cited by Bloomberg said the revision reinforced a picture of an economy losing altitude, particularly as inventory accumulation and trade no longer provided the same cushion seen in prior quarters.

Government activity also drew attention because a prolonged federal shutdown late in the quarter disrupted public services and weighed on measured output. While the BEA release breaks out federal government spending in the national accounts, private-sector economists told CNBC and other outlets that shutdown-related effects likely distorted the quarter’s headline figure by reducing government consumption and delaying some economic activity. Analysts at Oxford Economics, in comments reported by CNBC, said shutdowns can temporarily depress measured GDP even if some activity returns later, a reminder that quarterly growth figures can reflect both underlying demand and one-off policy disruptions.

The revised report also offered a fresh look at inflation embedded in the growth data, an issue central to the Federal Reserve and financial markets. The BEA said the price index for gross domestic purchases and the personal consumption expenditures price measures remained elevated enough to keep policymakers cautious, even as real activity softened. In public remarks this year, Federal Reserve Chair Jerome Powell has said the central bank needs “greater confidence” that inflation is moving sustainably toward 2%, according to statements published by the Federal Reserve, and a weaker growth print alone is unlikely to settle that debate.

For businesses, the composition of the report may matter as much as the headline. A slowdown led by softer consumer spending and weaker inventory investment can signal more cautious ordering patterns, tighter capital budgets and slower revenue growth across retail, manufacturing and transport. Economists at Wells Fargo, in a note cited by MarketWatch, said subdued final-quarter growth suggested companies entered 2026 with less momentum than expected, even if the economy avoided outright contraction. That reading aligns with the BEA statement that imports rose modestly, reducing net exports’ contribution to output.

Markets and corporate planners also pay close attention to revisions because they can reshape assumptions about earnings, rates and fiscal policy. The final estimate from the Bureau of Economic Analysis carries more complete source data than the earlier releases, and the agency said the latest changes stemmed mainly from updated information on consumer activity and inventories. Reuters noted that economists often treat final GDP revisions as important inputs for first-quarter tracking models, especially when the prior quarter ends on such a weak footing.

The broader question now is whether the fourth-quarter slowdown marked a temporary stumble or the start of a more prolonged cooling phase. Upcoming data on retail sales, payrolls, business investment and inflation will help answer that, while the Federal Reserve and corporate America gauge whether softer growth eases price pressures or simply squeezes margins. As the BEA made clear in its final estimate, the economy still expanded, but only barely, and that leaves investors, policymakers and executives watching the next run of data more closely than ever.

JBizNews Desk

JBizNews Desk | April 22, 2026

The United States is intensifying efforts to restructure global supply chains for critical minerals, with U.S. Trade Representative Jamieson Greer urging allies to accept higher costs in exchange for long-term security as Washington moves to reduce dependence on China. The push comes as President Donald Trump has directed a whole-of-government approach to reduce strategic vulnerabilities tied to Beijing’s dominance in key industrial inputs.

In remarks published Wednesday, Greer said Western nations must be willing to pay what he described as a “national security premium” to secure reliable, non-Chinese sources of critical minerals—key inputs for defense systems, semiconductors, and electric vehicles. “There is a premium we pay… and we will all pay a national security premium to have a secure supply chain,” Greer said, underscoring what he framed as a necessary shift in global trade priorities.

He directly challenged the cost-focused mindset that has guided global trade for decades. “What you’re talking about, which is cost efficiency — this is why we are in the situation we’re in,” Greer added, arguing that prioritizing low-cost sourcing enabled China to dominate the processing and refinement of key materials. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, has similarly warned in recent forums that overconcentration in supply chains poses systemic risks to global trade stability.

China currently controls roughly 90% of global critical minerals processing capacity, a structural advantage that has become a focal point for policymakers in Washington. While Beijing has recently eased some export restrictions amid a temporary U.S.–China trade truce, officials remain concerned about long-term exposure. José W. Fernández, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment, has repeatedly emphasized the urgency of diversifying supply chains to “ensure resilience in strategic sectors.”

Under direction from President Trump, Commerce Secretary Howard Lutnick and Greer have been given a 180-day deadline to secure agreements with allied nations aimed at diversifying supply. According to Gina Raimondo, former U.S. Commerce Secretary and current senior economic advisor, building domestic and allied processing capacity will be “critical to long-term economic and national security.” Policy options under review include expanding refining capabilities, securing long-term offtake agreements, and implementing price floors to stabilize investment.

Should negotiations fall short, the White House has indicated it is prepared to act unilaterally, with potential tools including tariffs, quotas, and minimum import pricing mechanisms. Robert Lighthizer, former U.S. Trade Representative, has previously argued that such measures may be necessary to counter “non-market behavior” and level the playing field in strategic industries.

Despite the urgency, allied governments are approaching the strategy cautiously. Valdis Dombrovskis, European Commission Executive Vice President and Trade Commissioner, has signaled that while Europe supports diversification, it must also balance economic competitiveness and avoid triggering retaliatory trade actions from Beijing.

China’s Embassy in Washington pushed back on the U.S. position, with a spokesperson stating that Beijing remains committed to maintaining “stable and unimpeded” industrial and supply chains. Wang Wenbin, spokesperson for China’s Ministry of Foreign Affairs, has similarly warned that politicizing trade could undermine global economic recovery and disrupt established supply networks.

Economists say the challenge facing the U.S. is structural, not just diplomatic. Analysts at the Peterson Institute for International Economics, including Adam S. Posen, the institute’s president, have emphasized that while many countries possess raw mineral reserves, processing capacity remains the critical bottleneck, largely controlled by China.

The U.S. has already begun laying the groundwork for a broader coalition. Earlier this year, Washington signed 11 bilateral critical minerals frameworks with countries including Argentina, Morocco, Peru, the Philippines, the United Arab Emirates, and the United Kingdom, alongside engagement led by Amos Hochstein, Senior Advisor to the President for Energy and Investment, who has been active in coordinating international energy and resource diplomacy.

The outcome of the current push is expected to shape the future of global supply chains across industries ranging from clean energy to defense manufacturing. As Janet Yellen, U.S. Treasury Secretary, has noted in recent remarks on “friend-shoring,” aligning supply chains with trusted partners may come at a higher cost—but is increasingly viewed as essential for long-term economic security.

— JBizNews Desk

JBizNews Desk | April 22, 2026

U.S. equity futures moved higher early Wednesday after President Donald Trump extended the ceasefire with Iran, reversing a two-day selloff on Wall Street fueled by concerns the truce would collapse without a diplomatic breakthrough.

S&P 500 futures climbed 0.55%, Nasdaq 100 futures advanced 0.73%, and Dow Jones Industrial Average futures gained roughly 207 points, or 0.44%, signaling a rebound in risk appetite following heightened geopolitical volatility.

The shift came after Trump announced Tuesday that the ceasefire would remain in place, pointing to what he described as a “seriously fractured” Iranian leadership and indicating negotiations could continue until Tehran presents a unified proposal. The move marked a reversal from his earlier stance, when he had signaled reluctance to extend the truce, injecting fresh uncertainty into markets earlier in the week.

Investors are now recalibrating expectations around energy markets and global growth. WTI crude pulled back to about $89.07 per barrel, down 0.67%, in early trading, as traders priced in a reduced risk of immediate supply disruption. The retreat follows a sharp spike in the prior session, when Brent crude briefly approached $98.50 per barrel, reflecting fears that escalating tensions could choke critical shipping lanes and trigger a broader energy shock.

Despite the relief rally, risks remain elevated. A continued U.S. naval blockade of Iranian ports has drawn sharp criticism from Tehran. Iran’s foreign minister has characterized the move as an “act of war,” underscoring the fragile nature of the ceasefire. Adding to tensions, an Iranian gunboat reportedly fired on a commercial container vessel near the Strait of Hormuz shortly after the extension was announced, highlighting the persistent threat to one of the world’s most critical energy corridors.

Market participants are closely watching whether diplomatic momentum can translate into sustained de-escalation. Any disruption in the Strait of Hormuz — through which roughly a fifth of global oil supply passes — could rapidly reverse the current pullback in crude prices and reignite inflationary pressures globally.


Premarket Movers — April 22, 2026

Gainers

Kyverna Therapeutics (NASDAQ: KYTX) surged more than 25% in premarket trading after the company reported positive clinical trial results for its lead cell therapy candidate, miv-cel, strengthening investor confidence in its autoimmune disease pipeline.

Adobe Inc. (NASDAQ: ADBE) rose over 2% after the company’s board approved a $25 billion share repurchase program running through April 2030, signaling confidence in long-term cash flow generation and capital return strategy.

United Airlines Holdings (NASDAQ: UAL) edged up about 1%, even after issuing weaker forward guidance. The carrier projected full-year 2026 adjusted earnings of $7 to $11 per share, down from prior guidance of $12 to $14. Second-quarter expectations of $1 to $2 per share also fell short of the $2.08 FactSet consensus, though first-quarter results exceeded analyst estimates.

Losers

Apple Inc. (NASDAQ: AAPL) remained under pressure after falling 2.52% in the prior session following the announcement that CEO Tim Cook will step down on September 1. Cook, 65, is set to transition to executive chairman, with Senior Vice President of Hardware Engineering John Ternus named as his successor. The leadership transition briefly pushed Apple’s market capitalization below the $4 trillion threshold.

Capital One Financial Corp. (NYSE: COF) declined after reporting first-quarter earnings of $4.42 per share on revenue of $15.23 billion, missing Wall Street estimates of $4.55 and $15.36 billion, respectively. Total net revenue fell 2% year-over-year, raising concerns about margin pressure in the consumer lending environment.


On Watch

Tesla Inc. (NASDAQ: TSLA) is set to report first-quarter 2026 earnings after the bell at 5:30 PM ET, with investors bracing for volatility. The company reported 358,023 vehicle deliveries, missing the 365,645 consensus estimate by roughly 7,600 units. Analysts note that Tesla shares have historically reacted sharply to earnings, with last year’s comparable release triggering a 12% overnight move.


Outlook

While the extension of the Iran ceasefire has temporarily stabilized markets, investors remain highly sensitive to geopolitical headlines. The interplay between diplomacy, energy prices, and inflation expectations is likely to drive near-term market direction.

A sustained easing in tensions could support equities and relieve pressure on central banks navigating persistent inflation risks. However, any renewed escalation — particularly involving shipping disruptions in the Persian Gulf — could quickly reverse gains and reintroduce volatility across global markets.

— JBizNews Desk

LUXEMBOURG, April 22, 2026 — A sharp divide emerged within the European Union on Tuesday as Germany and Italy moved to block a proposal by several member states to suspend the EU-Israel Association Agreement, underscoring deepening fractures in Europe’s approach to Israel amid ongoing regional tensions.

The proposal, led by Spain, Slovenia, and Ireland, called for formal discussions on suspending the decades-old trade and cooperation agreement with Israel. Spanish Foreign Minister José Manuel Albares confirmed ahead of the meeting that the issue had been placed on the agenda for deliberation among EU foreign ministers.

Germany swiftly rejected the move. German Foreign Minister Johann Wadephul described the proposal as “inappropriate,” arguing that the European Union should maintain engagement with Israel through “critical, constructive dialogue” rather than punitive economic measures.

Italy aligned with Berlin’s position. Italian Foreign Minister Antonio Tajani indicated that no immediate action would be taken, stating “no decision will be taken today,” effectively delaying further consideration of the proposal until the next Foreign Affairs Council meeting scheduled for May 11.

Other member states signaled a more critical stance. Belgium called Israeli conduct “unacceptable” and advocated for a partial suspension of the agreement, reflecting a middle-ground approach within the bloc.

EU foreign policy chief Kaja Kallas acknowledged the lack of consensus, stating, “I have seen no change in positions around the table,” highlighting the entrenched divisions among member states.

Economic Stakes

At the center of the debate is the EU-Israel Association Agreement, in force since 2000, which governs billions of dollars in bilateral trade and provides Israel with preferential access to European markets. The agreement underpins key Israeli export sectors, including technology, pharmaceuticals, and agriculture.

Any suspension—full or partial—would represent one of the most significant economic actions taken by the EU against Israel in recent years and could have ripple effects across supply chains and investment flows between Israel and Europe.

Growing Policy Divergence

Some countries have already taken unilateral steps. Slovenia has banned imports from Israeli settlements, while Spain enacted similar restrictions through a decree implemented at the start of 2026.

Israel strongly rejected the initiative. Israeli Foreign Minister Gideon Saar called the proposal “absurd and distorted,” arguing that it unfairly targets Israel “at a time when it is in an existential war.”

Diplomatic officials noted that Israel’s role in broader regional security dynamics, particularly in relation to Iran, has strengthened its position with several EU governments—contributing to the bloc that opposed Tuesday’s push.

What Comes Next

With no agreement reached, the issue is expected to return for further discussion at the May 11 meeting of EU foreign ministers, where divisions within the bloc are likely to remain a central challenge.

For businesses and investors, the outcome could carry significant implications for trade flows, regulatory frameworks, and geopolitical risk exposure across European and Middle Eastern markets.

— JBizNews Desk- Europe


El Al is set to begin direct flights between Tel Aviv and Buenos Aires, marking one of the longest and most complex routes in the airline’s network, as part of a government-backed initiative expected to be formally highlighted during Argentine President Javier Milei’s visit to Israel.

The Israeli flag carrier said the route is scheduled to launch in November, initially operating two weekly flights during a trial phase of roughly one year to assess demand for direct travel between the two countries. Ticket sales are expected to open in May, according to the company.

The move comes after El Al secured a government-supported tender aimed at establishing the long-distance route, which is viewed as strategically important despite significant operational challenges. “This is not a purely commercial decision—it reflects broader national and diplomatic priorities,” said Sivan Yedid, aviation analyst at Meitav Investment House, noting that long-haul connectivity to Latin America has been limited.

At approximately 16.5 hours outbound and 15.5 hours return, the Buenos Aires route will surpass most of El Al’s existing network in duration, exceeding even its long-haul service to Los Angeles. The extended flight time, combined with fuel and staffing costs, has raised questions about profitability.

To offset these challenges, the Israeli government has allocated a subsidy estimated at NIS 44 million, aimed at supporting the route during its initial phase. “Without state support, routes of this length and complexity are difficult to sustain,” said Brendan Sobie, aviation analyst at Sobie Aviation, pointing to high operating costs and uncertain demand.

Flight routing presents an additional layer of complexity. Industry sources indicate that the most viable path avoids unstable airspace, instead routing aircraft over the Mediterranean, across North Africa, and down the Atlantic corridor. While safer, the detour extends flight duration and increases fuel consumption.

Shorter routes that could reduce travel time by several hours are currently not feasible due to geopolitical constraints, including restricted access over certain regions and ongoing conflicts. “Operational safety always takes precedence, even if it means higher costs,” said Alex Macheras, aviation analyst and consultant, emphasizing the importance of stable flight paths for ultra-long-haul routes.

The service will require the use of wide-body aircraft capable of extended range, potentially leading El Al to reallocate planes currently deployed on more established and profitable routes, including North America and Asia.

Government-backed airline routes are relatively uncommon in Israel but not unprecedented. Past initiatives have included financial support for domestic flights to Eilat and maintaining politically sensitive international routes. However, those routes were significantly shorter and less costly to operate.

Globally, similar subsidy models are widely used to sustain routes considered strategically important but commercially marginal. “This is standard practice in many countries,” said John Grant, Chief Analyst at OAG, noting that governments often step in where market forces alone are insufficient to justify service.

For Israel, the Tel Aviv–Buenos Aires connection is expected to strengthen economic, diplomatic, and cultural ties with Argentina, particularly under Milei’s leadership, which has emphasized closer relations with Israel.

Looking ahead, the success of the route will depend on sustained passenger demand and the airline’s ability to manage operational costs. If the trial phase proves viable, the service could become a permanent fixture, expanding Israel’s long-haul connectivity into Latin America.

JBizNews Desk

A growing backlash against Tesla’s self-driving promises is taking shape across the United States, Europe, and Australia, as customers and regulators increasingly question whether the company oversold its Full Self-Driving (FSD) technology. “Companies must not exaggerate what their AI-based products can do,” said Lina Khan, Chair of the Federal Trade Commission, reflecting broader federal scrutiny around marketing claims tied to emerging technologies.

At the center of the dispute is Tesla’s decade-long push that its vehicles would eventually achieve full autonomy through software updates. Tom LoSavio, a retired California attorney who paid roughly $8,000 for FSD nearly a decade ago, is now leading a class-action lawsuit alleging the company misled buyers. “We were sold a vision of full autonomy that has yet to materialize,” LoSavio said in legal filings tied to the case.

A California court has granted class-action status covering approximately 3,000 Tesla owners, significantly raising the stakes for the company. Plaintiffs are seeking refunds and damages tied to the autonomous add-on. “This case centers on uniform representations made to thousands of consumers,” attorneys for the plaintiffs argued in court documents, emphasizing that the claims apply broadly across Tesla’s customer base.

The legal challenges are expanding internationally. In Australia, a similar class-action case is advancing through the courts, while in Europe, consumer groups are mobilizing Tesla drivers over concerns that older vehicles lack the hardware needed for newer software capabilities. “Consumers across Europe are increasingly questioning whether they received what was promised,” said a spokesperson for BEUC, the European Consumer Organisation, highlighting the cross-border nature of the issue.

Tesla CEO Elon Musk has long maintained that the company is on the verge of solving autonomy, a narrative that helped drive investor enthusiasm and push Tesla’s valuation to historic highs. “I think we will have full self-driving capability that is safer than a human this year,” Musk said in prior public remarks—one of several timeline predictions now being cited by critics and litigants.

Wall Street analysts say the gap between ambition and execution is now under sharper focus. “Autonomous driving has consistently taken longer than expected across the industry,” said Dan Ives, Managing Director at Wedbush Securities, noting that while Tesla remains a leader in data and deployment, true autonomy remains elusive.

A key issue is hardware. Millions of Tesla vehicles currently on the road are believed to be equipped with earlier-generation systems that may not support the latest FSD software. “There is a real question around whether the existing installed base can reach full autonomy without meaningful upgrades,” said Adam Jonas, Senior Analyst at Morgan Stanley, in a recent investor note.

Despite the legal and technical challenges, Tesla is pressing forward. The company has launched a limited robotaxi pilot in Austin, Texas, offering a glimpse into its long-term autonomous ride-hailing ambitions. “This is a foundational step toward a broader autonomous network,” a Tesla spokesperson said in a statement on the rollout.

Tesla is also developing its “Cybercab,” a purpose-built autonomous vehicle without a steering wheel or pedals—an aggressive bet on a fully driverless future. “The future of transportation is autonomous, electric, and shared,” Musk said during a company presentation outlining Tesla’s next phase.

For regulators, the issue goes beyond Tesla alone. It raises broader questions about how emerging technologies are marketed and governed. “Transparency in what these systems can and cannot do is critical for consumer trust and safety,” said Pete Buttigieg, U.S. Secretary of Transportation, speaking on autonomous vehicle oversight.

For early adopters like LoSavio, however, the concern is more immediate: whether Tesla will deliver on what was sold years ago. As lawsuits expand and scrutiny intensifies, the company faces a pivotal test—balancing innovation with accountability. “This could set a precedent for how advanced technologies are marketed to consumers,” said Jessica Rich, former Director of the FTC’s Bureau of Consumer Protection.

What comes next will be closely watched not just by Tesla owners, but by the broader auto and tech industries. If courts and regulators begin drawing firmer lines around what companies can promise, it could reshape how innovation is sold—and trusted—going forward.

JBizNews Desk

President Donald Trump said Tuesday he would oppose any merger between United Airlines Holdings Inc. (NASDAQ: UAL) and American Airlines Group Inc. (NASDAQ: AAL), signaling clear resistance to further consolidation in the U.S. airline industry just as United prepares to report earnings.

The remarks come at a sensitive moment for United, which is set to release first-quarter results after the close today, with CEO Scott Kirby expected to address a complex mix of operational constraints, cost pressures, and demand trends heading into the critical summer travel season.

Trump’s position effectively narrows the strategic landscape for U.S. carriers, where mergers have historically played a central role in reshaping the industry. Kirby had raised the possibility of consolidation earlier this year, though the idea was quickly dismissed by American Airlines. Trump’s comments now reinforce expectations that any such deal would face steep regulatory and political resistance.

“Statements like this send a strong signal to both regulators and the market,” said Helane Becker, Managing Director and Airline Analyst at TD Cowen, noting that antitrust concerns and consumer pricing implications would likely dominate any review process. “It essentially removes large-scale consolidation from the near-term playbook.”

As United heads into earnings, investor focus is increasingly shifting toward execution rather than expansion. At the center of that discussion is Newark Liberty International Airport, one of the airline’s most important hubs, where operations remain constrained under an FAA-imposed cap of 72 flights per hour through October.

The restriction is limiting United’s ability to fully capitalize on strong travel demand, particularly on high-margin routes, while also increasing the risk of delays and operational disruptions across its broader network.

“Newark is a linchpin for United’s system,” said Jamie Baker, Senior Airline Analyst at JPMorgan. “When you constrain capacity at a hub like that, it impacts everything from revenue optimization to customer experience.”

Market expectations suggest this issue will dominate the earnings call. Prediction market data indicates roughly an 89% probability that Kirby will directly address Newark, making it the most anticipated topic among traders. The same data points to a broader defensive tone, with expected discussion around weather disruptions, air traffic control limitations, labor negotiations, and fuel costs.

“The market is clearly identifying where the risks are concentrated,” said Savanthi Syth, Airline Analyst at Raymond James, adding that infrastructure constraints remain one of the most persistent challenges facing the airline industry.

Fuel costs are emerging as another key pressure point. Recent volatility in oil prices has raised concerns about margin compression, particularly as airlines ramp up capacity ahead of peak travel months. Fuel remains one of the largest and most unpredictable expenses for carriers.

“Fuel is the single biggest swing factor in airline earnings,” said Sheila Kahyaoglu, Aerospace & Defense Analyst at Jefferies. “Even relatively small moves in oil prices can have an outsized impact on margins.”

At the same time, labor costs continue to rise as airlines navigate union agreements and staffing challenges, adding further complexity to cost management.

Despite these headwinds, United enters earnings with several strengths. The airline has benefited from strong demand in international travel and premium segments, which tend to generate higher margins, while business travel has shown signs of stabilization.

“The demand backdrop remains solid,” Baker added, “but the question is whether United can convert that into consistent profitability given the operational and cost challenges.”

Investors will be particularly focused on forward guidance, looking for clarity on how the company plans to navigate the summer travel season under current constraints.

“This is less about what happened last quarter and more about what management is signaling going forward,” said Sheila Kahyaoglu, noting that guidance will likely drive market reaction.

One area offering potential upside is onboard technology and customer experience. United has been investing in enhanced in-flight connectivity, including partnerships tied to Starlink, which could help differentiate the airline and support pricing power.

“Connectivity and customer experience are becoming important drivers of revenue,” said Andrew Didora, Airline Analyst at Bank of America, noting that such investments can help offset cost pressures.

Still, the broader industry environment remains challenging, with airlines exposed to infrastructure limitations, geopolitical risks, and macroeconomic uncertainty.

“The industry is fundamentally strong, but still highly sensitive to external shocks,” said Syth.

Looking ahead, Kirby’s commentary will be closely scrutinized for how United plans to balance growth ambitions with operational realities. With regulatory signals limiting consolidation, infrastructure constraints capping capacity, and fuel volatility pressuring margins, execution will be key.

As the summer travel season approaches, United’s outlook could help set the tone for the broader airline sector navigating an increasingly complex operating environment.

JBizNews Desk

Israel’s surging currency is forcing investors to confront a key question: does the sharp decline in the shekel-dollar exchange rate present a buying opportunity for U.S. assets, or signal a longer-term shift toward a structurally stronger shekel?

The shekel’s rally over the past year has significantly eroded returns for Israeli investors holding dollar-denominated assets. Even as U.S. equities posted strong gains, currency movements offset much of the upside when converted back into shekels. “Currency can dominate returns in global portfolios,” said Jonathan Katz, Chief Economist at Leader Capital Markets, noting that exchange-rate moves have become a central driver of investor outcomes.

For example, investments tracking major U.S. indices delivered strong returns in dollar terms, but those gains were substantially reduced once adjusted for currency. The dynamic has led to capital outflows from some foreign investment tracks, reflecting investor frustration with the currency drag.

Several structural factors are supporting the shekel’s strength. Israel’s current account surplus, steady inflows from the technology sector, and a decline in perceived geopolitical risk have all contributed to sustained demand for the local currency. “Israel continues to attract significant foreign capital,” said Harel Kodesh, former CEO of SAP Israel and tech investor, pointing to ongoing deal activity as a key source of dollar inflows.

Large-scale transactions in the technology sector have amplified the trend. High-profile acquisitions—such as major cybersecurity deals—have injected substantial foreign currency into the Israeli economy, reinforcing appreciation pressure on the shekel. At the same time, global weakness in the U.S. dollar has further strengthened the relative position of Israel’s currency.

“The shekel is benefiting from both domestic strength and global dollar softness,” said Francesco Pesole, FX Strategist at ING, adding that Israel has emerged as one of the stronger currencies in the current global cycle.

The recent move below NIS 3 per dollar is particularly notable. While the exchange rate reached similar levels decades ago, analysts emphasize that today’s environment is driven primarily by market forces rather than policy intervention. “This is a fundamentally different backdrop,” said Yossi Fraiman, CEO of Prico Risk Management, noting that the move reflects structural flows rather than temporary distortions.

Still, whether the current level represents an opportunity remains a matter of debate among market participants. Some analysts argue that the weaker dollar presents an attractive entry point for investors seeking exposure to U.S. assets, particularly given ongoing strength in the American economy.

“For investors with dollar liabilities or planned spending, this is a reasonable time to increase exposure,” said Eran Yaron, Head of Markets Strategy at a leading Israeli financial institution, emphasizing the practical benefits of locking in favorable exchange rates.

Others are more cautious, warning that holding dollars purely as a currency position may not deliver meaningful returns over time. “Cash in foreign currency is not an investment—it’s a hedge,” said Saar Weintraub, Deputy CIO at Altshuler Shaham, adding that long-term fundamentals continue to favor shekel strength.

Weintraub noted that capital inflows into Israel are likely to persist, driven by the country’s technology sector and improving economic outlook. “The level itself is less important than the underlying forces,” he said, suggesting that the recent move below NIS 3 per dollar may not represent a lasting floor.

At the same time, global factors could still shift the balance. U.S. interest rates, Treasury market dynamics, and broader risk sentiment remain key variables influencing currency markets. “The dollar’s trajectory will depend heavily on bond markets,” said Kit Juckes, Chief FX Strategist at Société Générale, highlighting the role of yields in shaping currency flows.

For investors, the decision ultimately comes down to strategy. Those seeking diversification or exposure to U.S. markets may view the current environment as an opportunity, while others may remain cautious given the structural strength of the shekel.

Looking ahead, the interplay between local fundamentals and global macro conditions will determine whether the shekel’s rally continues or stabilizes. For now, the debate reflects a broader uncertainty in currency markets: whether recent moves represent a temporary imbalance—or the beginning of a longer-term shift.

JBizNews Desk

The Justice Department is reportedly pursuing a criminal antitrust investigation of large meatpacking companies after President Donald Trump called for them to face a probe over the higher prices facing consumers.

The Wall Street Journal reported, citing sources familiar with the matter, that while the DOJ indicated it was investigating beef companies following the president’s request, the criminal nature of the probe hasn’t been disclosed previously.

Trump claimed in November that beef companies were manipulating the purchase price of cattle they bought from ranchers while raising prices on consumers. The report noted that criminal antitrust cases typically focus on allegations related to market collusion or price fixing.

The Journal reported that although Trump’s comments placed blame on “majority foreign owned meatpackers,” the investigation is looking at four major companies that sell beef in the U.S. 

TRUMP TEAM PLEDGES TO DRIVE BEEF PRICES DOWN BY 2026 AS USDA CHIEF PUSHES BACK ON $10-PER-POUND WARNING

The report noted that Tyson Foods, Cargill, JBS and National Beef are the four leading companies operating in that portion of the U.S. market, with Tyson and Cargill both U.S.-headquartered firms, while JBS and National Beef are from Brazil.

Antitrust regulators have looked into the contracts used by beef companies to acquire cattle from ranchers which reference a pricing benchmark that some ranchers have claimed is manipulated, one of the Journal’s sources told the outlet.

BEEF PRICES HIT RECORD HIGHS AS NATIONWIDE CATTLE INVENTORY DROPS TO LOWEST LEVEL IN 70 YEARS

Additionally, the Journal reported that leading beef processors were the subject of an investigation that began in Trump’s first term and continued through Biden’s term, but was closed by the Justice Department weeks before it launched its most recent probe on similar grounds.

Beef prices have surged over the last year amid strong demand from consumers while the U.S. cattle industry is facing a shortage with the cattle supply at its lowest level in over 70 years.

BEEF PRICES IN FOCUS AS TRUMP SIGNS ORDER AIMED AT CONSUMER RELIEF

Drought contributed to the decline in the cattle supply, as it impacted grasslands in states like Texas, Oklahoma, Kansas and parts of the Southeast that were used by cattle ranchers’ herds. The loss of those foraging areas caused ranches to liquidate cows and shrink their herds.

Ranchers are also facing rising overhead costs, as items like feed, labor, fuel and equipment expenses have trended higher.

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The Bureau of Labor Statistics’ data from the March release of the consumer price index (CPI) showed that beef and veal prices were up 12.1% over the last year. Within that category, ground beef prices are up 11% while prices for beef steaks have risen 15.2% over that period.

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JPMorgan has raised its outlook for the S&P 500, pointing to strengthening momentum in the artificial intelligence trade and the firm’s proprietary “Mythos” model, which signals continued upside driven by capital flows and earnings expansion in AI-linked sectors.

The bank’s strategists said the model—designed to track cross-asset positioning, liquidity trends, and thematic concentration—indicates that investor exposure to AI remains underappreciated relative to the scale of spending now underway. “The AI trade still has room to run,” said Marko Kolanovic, Chief Market Strategist at JPMorgan, noting that institutional positioning continues to shift toward infrastructure and compute-heavy names.

The updated target reflects growing confidence that AI-driven investment cycles are entering a more durable phase, supported by corporate spending on data centers, semiconductors, and cloud infrastructure. Companies tied to high-performance computing and large-scale model deployment are expected to remain primary beneficiaries.

“What we are seeing is not just hype—it’s a capex cycle,” said Stacy Rasgon, Senior Semiconductor Analyst at Bernstein, pointing to sustained demand for advanced chips and related infrastructure. “The magnitude of investment is comparable to prior industrial revolutions in tech.”

JPMorgan’s model also incorporates liquidity dynamics, suggesting that global capital flows continue to favor U.S. equities, particularly mega-cap technology firms. The concentration of gains among a small group of AI leaders has raised concerns, but strategists argue that earnings growth justifies the trend.

“Earnings are catching up to valuations,” said Savita Subramanian, Head of U.S. Equity Strategy at Bank of America, noting that AI-linked companies are delivering real revenue expansion rather than speculative projections.

The revised outlook comes as the S&P 500 trades near record levels, with performance increasingly driven by companies exposed to artificial intelligence. Nvidia, Microsoft, and other large-cap technology firms have led the rally, reflecting their central role in the AI ecosystem.

At the same time, JPMorgan’s analysis suggests that the next phase of the rally may broaden beyond core chipmakers and hyperscalers. “We are starting to see second-order beneficiaries emerge,” said Jonathan Golub, Chief U.S. Equity Strategist at UBS, pointing to software, industrial, and energy companies tied to AI infrastructure buildout.

Still, risks remain. Elevated valuations, rising interest rate sensitivity, and geopolitical uncertainty could introduce volatility, particularly if growth expectations fail to materialize at the current pace.

“The bar is high,” said Mike Wilson, Chief U.S. Equity Strategist at Morgan Stanley, cautioning that markets are pricing in continued strength in both earnings and liquidity conditions.

JPMorgan’s “Mythos” framework suggests that investor psychology and narrative momentum continue to play a role in sustaining the rally, particularly as AI remains the dominant theme across global markets.

Looking ahead, the firm expects AI-driven capital expenditure and earnings growth to remain key drivers of equity performance, reinforcing its constructive outlook on the S&P 500. As long as the underlying investment cycle continues, strategists say the market may have further room to climb.

JBizNews Desk

WASHINGTON — President Donald Trump said Tuesday he will “remember” U.S. companies that choose not to seek refunds on tariffs imposed under emergency powers that were recently struck down by the Supreme Court, injecting a new political dimension into what could become a massive wave of corporate claims.

The remarks come after the Supreme Court, in a 6–3 decision, ruled that tariffs enacted under the International Emergency Economic Powers Act (IEEPA) were unlawful, potentially opening the door for more than $160 billion in refunds to U.S. importers.

A day earlier, U.S. Customs and Border Protection (CBP) launched a formal portal allowing companies to begin filing claims to recover those funds, setting the stage for what could become one of the largest reimbursement processes in U.S. trade history.

Speaking Tuesday, Trump suggested that companies declining to pursue refunds would be viewed favorably. “They would be very smart — very brilliant,” he said, signaling that corporate decisions on the issue could carry political implications.

“This introduces a non-economic variable into what should be a legal and financial decision,” said William Reinsch, Senior Adviser at the Center for Strategic and International Studies, noting that companies now face a balancing act between fiduciary duty and potential political considerations.

So far, several major corporations—including Apple and Amazon—have not publicly moved to file for refunds, though the timeline for submissions remains open and companies may still be assessing legal and financial implications.

“Large multinationals will likely proceed cautiously,” said Doug Irwin, Professor of Economics at Dartmouth College, adding that firms will need to weigh regulatory relationships, reputational risk, and potential scrutiny alongside the financial upside.

The scale of the potential refunds is significant. The tariffs, originally imposed as part of broader trade and national security measures, impacted a wide range of imports and sectors, leaving companies with substantial cumulative costs over time.

“$160 billion is not just a number—it’s a major liquidity event for corporate balance sheets,” said Chad Bown, Senior Fellow at the Peterson Institute for International Economics, noting that the outcome could influence capital allocation decisions across industries.

The Supreme Court’s ruling also raises broader questions about the limits of executive authority in trade policy. Legal analysts say the decision could reshape how future administrations deploy emergency powers in economic policy.

“This is a landmark decision in terms of executive power and trade law,” said Jennifer Hillman, Professor at Georgetown Law and former WTO Appellate Body member, emphasizing that the ruling may constrain similar actions going forward.

For companies, the immediate focus remains on whether—and how—to pursue refunds. While the financial incentive is clear, Trump’s comments introduce a layer of uncertainty that could influence corporate behavior.

“Firms are now navigating both legal clarity and political signaling,” said Everett Eissenstat, former Deputy Director of the National Economic Council, noting that decisions may vary depending on each company’s exposure and strategic priorities.

Looking ahead, the pace and scale of refund claims will be closely watched by policymakers, markets, and corporate leaders alike. The outcome could have ripple effects across trade policy, executive authority, and the relationship between government and business.

For now, Trump’s message adds a new dimension to the equation: companies may not be judged solely on financial decisions, but also on how those decisions align with broader political dynamics.

JBizNews Desk

Hungarian government bonds are poised to extend their rally as Prime Minister-elect Peter Magyar signals a decisive shift toward euro adoption and closer alignment with the European Union, a stance that is already boosting investor confidence and tightening spreads across the country’s debt markets.

The incoming leadership’s pro-Europe positioning marks a notable pivot from recent policy tensions with Brussels and is being viewed by markets as a turning point for Hungary’s economic trajectory. Mai Doan, Economist at Bank of America Corp., said the outlook for Hungarian bonds carries a “very constructive bias,” driven by expectations of stronger policy credibility and improved access to external funding.

“A credible path toward euro adoption is a powerful anchor for investor confidence,” Doan said, noting that Hungary’s renewed commitment to convergence with the eurozone could accelerate the compression of bond yields and improve relative performance among emerging European peers.

Analysts say the euro accession push is more than symbolic. It signals a willingness to implement structural reforms, align fiscal policy with EU standards, and reduce long-term currency volatility. “Markets are responding to the policy direction, not just the outcome,” said Liam Peach, Senior Emerging Markets Economist at Capital Economics, adding that even gradual progress toward euro adoption can materially lower risk premiums.

A central pillar of the bullish case is the potential unlocking of €17 billion to €18 billion in frozen EU funds, which have been withheld due to prior disputes over governance and rule-of-law concerns. Improved relations under the new leadership are expected to pave the way for those funds to be released. “Access to EU financing would significantly strengthen Hungary’s external balance,” said Piotr Matys, Senior FX Analyst at InTouch Capital Markets, highlighting the impact on both currency stability and sovereign borrowing costs.

Investor positioning has already begun to shift. Hungarian government bond yields have started to decline, while demand from foreign investors has picked up as political risk perceptions ease. “We are seeing early re-engagement from global investors,” said Trung Nguyen, Emerging Markets Strategist at Natixis, pointing to increased inflows into local debt markets.

The Hungarian forint has also stabilized, benefiting from expectations of stronger capital inflows and improved macroeconomic management. “Currency stability is reinforcing the bond rally,” said Jane Foley, Head of FX Strategy at Rabobank, noting that a firmer forint reduces inflationary pressure and supports a more predictable policy environment.

Hungary’s central bank remains a key factor in sustaining momentum. Policymakers have maintained a cautious easing cycle, balancing the need to support growth while preserving financial stability. “Central bank discipline will be critical in maintaining investor trust,” said Holger Schmieding, Chief Economist at Berenberg, emphasizing that credibility remains central to the outlook.

Bank of America continues to favor Hungarian bonds, particularly in the five- to ten-year segment, where yield compression potential remains strongest. Doan cited improving fiscal signals, disinflation trends, and prospective EU inflows as key catalysts for further gains.

Still, external risks remain. A slowdown in the broader eurozone economy or renewed pressure from rising global yields could limit upside. “Hungary’s trajectory is improving, but global conditions still matter,” said Erik Nielsen, Chief Economic Advisor at UniCredit, noting that emerging market assets remain sensitive to shifts in global liquidity.

For investors, Hungary’s repositioning represents a broader story of policy credibility and integration. The combination of euro convergence ambitions and improved EU relations is reshaping how markets assess the country’s risk profile.

Looking ahead, the sustainability of the rally will depend on execution. If Peter Magyar’s government follows through on its pro-EU and reform-driven agenda, Hungarian bonds could continue to outperform, reinforcing the country’s standing in global fixed-income markets.

JBizNews Desk

Hedge funds are sharply increasing bearish bets against the U.S. dollar, reflecting a growing shift in global currency markets as demand for traditional safe-haven assets fades and investors rotate into risk-sensitive positions.

Latest data from the Commodity Futures Trading Commission (CFTC) shows speculative traders significantly expanded net short positions on the dollar in recent weeks, marking one of the most pronounced bearish turns since late 2023. The shift highlights a broader repositioning among institutional investors as macro conditions evolve.

“We’re seeing a clear move away from defensive dollar exposure,” said Win Thin, Global Head of Currency Strategy at Brown Brothers Harriman, noting that improving global sentiment is reducing the need for dollar hedging. “As volatility declines and growth expectations stabilize, capital is rotating into higher-yielding currencies.”

The U.S. Dollar Index (DXY), which measures the greenback against a basket of major currencies, has come under renewed pressure as the euro, pound, and several emerging market currencies strengthen. Analysts point to shifting rate expectations and global capital flows as key drivers behind the move.

A major catalyst is the evolving outlook for Federal Reserve policy. Federal Reserve Chair Jerome Powell has emphasized a data-dependent approach, with markets increasingly pricing in that the Fed may be near the end of its tightening cycle. That shift is narrowing the interest rate advantage that previously supported the dollar.

“The dollar’s strength over the past two years was largely driven by rate differentials,” said Jane Foley, Head of FX Strategy at Rabobank. “If the Fed pauses while other central banks remain relatively firm, that support begins to erode.”

At the same time, easing geopolitical tensions and resilient equity markets are reducing safe-haven demand. Investors who previously sought protection in the dollar during periods of uncertainty are now reallocating toward equities, commodities, and higher-yielding currencies.

Still, some strategists warn the trade may be getting crowded. “The market is leaning heavily short on the dollar,” said Mark McCormick, Global Head of FX and EM Strategy at TD Securities. “Any shift in Fed messaging or resurgence in volatility could trigger a sharp reversal.”

For corporate America, a weaker dollar presents mixed implications. Multinational firms could benefit from improved overseas earnings translation, while import-heavy businesses may face rising costs. Currency swings also add complexity to global investment and trade decisions.

Looking ahead, the durability of the dollar’s decline will hinge on Federal Reserve policy, global growth trends, and geopolitical stability. For now, hedge funds are signaling a clear directional view: the dollar’s safe-haven dominance is softening as investors reposition for a more risk-on global environment.

JBizNews Desk

The U.S. trade deficit widened in February as imports rebounded following an earlier pullback, even as exports climbed to a record high—highlighting continued volatility in global trade flows amid shifting tariff policy and uneven global demand. Data released April 2 by the U.S. Bureau of Economic Analysis (BEA) and the U.S. Census Bureau showed the goods and services trade gap increased 4.8% to $57.3 billion, up from January. “The increase in the deficit reflected an increase in imports that was larger than the increase in exports,” the BEA said in its official release, underscoring the imbalance despite strong outbound trade.

The February figure came in below economists’ expectations of roughly $59.2 billion, based on consensus forecasts compiled by major financial outlets including Bloomberg and Reuters. Exports rose to an all-time high, driven by gains in both goods and services, while imports advanced as businesses and consumers increased purchases from abroad after prior weakness. “Exports of goods and services increased… reflecting growth across multiple categories,” the BEA reported, pointing to sustained global demand for U.S. output even as imports regained momentum.

Despite the monthly widening, the broader trend still shows a sharp improvement compared with last year. In the first two months of 2026, the U.S. goods and services deficit narrowed by roughly 55% year-over-year, a decline of $136.1 billion, according to BEA data. Over that period, exports rose more than 11%, while imports fell more than 9%, suggesting stronger foreign demand and a moderation in inbound trade compared with early 2025. The BEA noted that “year-to-date, the goods and services deficit decreased significantly,” reflecting this shift.

Trade data remains a critical input for investors and policymakers because of its direct impact on economic growth. “Net exports are a key component of GDP, with a widening deficit acting as a drag,” the Federal Reserve Bank of St. Louis explained in its economic analysis framework, highlighting how trade flows influence broader economic performance. February’s rebound in imports suggests domestic demand remains resilient, even as policymakers monitor whether that strength could sustain pressure on inflation and supply chains.

The report comes amid ongoing shifts in U.S. trade policy under President Donald Trump, whose administration has reintroduced tariffs as a central economic lever. Following a Supreme Court ruling earlier this year that struck down prior tariff structures, the administration moved to implement a temporary 10% universal tariff, according to statements from the Office of the U.S. Trade Representative (USTR). “Trade policy remains a key tool to rebalance global commerce in favor of American industry,” a USTR spokesperson said, reflecting the administration’s evolving approach.

While official trade data does not assign direct causation, economists say tariff changes can significantly distort short-term trade patterns. Diane Swonk, Chief Economist at KPMG, noted in a recent analysis that “companies often front-load or delay imports around tariff changes, creating volatility in monthly trade data that doesn’t always reflect underlying demand.” This dynamic helps explain sharp swings in imports and exports during periods of policy transition.

At the same time, February’s data reinforced the resilience of U.S. exports despite a challenging global backdrop. “U.S. exporters continue to find demand abroad even as global growth slows,” said Gregory Daco, Chief Economist at EY, in a note following the release, pointing to strength in sectors such as industrial goods, energy, and services. The BEA data showed gains across multiple export categories, supporting the view that U.S. competitiveness remains intact in key markets.

For financial markets, the report delivered a mixed signal. Strong exports and a sharply reduced year-to-date deficit could support first-quarter GDP growth, while the February widening and import rebound suggest domestic demand has not cooled uniformly. Federal Reserve Chair Jerome Powell has previously emphasized that “economic data must be viewed in totality,” noting during recent remarks that mixed signals across sectors complicate the central bank’s policy outlook as it assesses inflation and growth risks.

Looking ahead, the next several months will be critical in determining whether February’s increase marks a temporary normalization or the beginning of a renewed rise in imports. Economists say upcoming data will also reveal how the administration’s tariff policies influence corporate sourcing decisions and global supply chains. With trade policy back in flux, monthly releases from the BEA and Census Bureau are taking on outsized importance as a real-time indicator of how businesses and global markets are adapting to rapidly changing rules.

— JBizNews Desk

A recall affecting more than 400,000 power banks has been reissued after federal regulators reported additional incidents, including a fatal fire and a separate onboard airplane fire.

About 429,000 Casely Power Banks 5000mAh portable MagSafe compatible wireless chargers are included in the recall announced last week due to fire and burn hazards, according to the U.S. Consumer Product Safety Commission (CPSC).

The recall was first announced in April 2025. At that time, Casely had received 51 consumer reports of the charger overheating, swelling or catching fire while being used to charge phones, causing six minor burn injuries.

MORE THAN 30K WIRELESS POWER BANKS RECALLED AFTER REPORTS OF FIRE, EXPLOSIONS

Since that recall was regulators say 28 additional incidents have been reported, including the death of a 75-year-old woman from New Jersey.

In August 2024, the elderly woman was charging her cell phone with the power bank on her lap when it caught on fire and exploded. She suffered second- and third-degree burns and later died from her burn injuries.

In another incident, a 47-year-old woman in February was charging her cell phone with the power bank on a plane when it caught on fire and exploded, causing first-degree burns to the woman.

The power banks affected by the recall have the model number “E33A” printed on the back and “Casely” engraved on the front right side.

The chargers were sold on Casely’s website, Amazon and other online retailers from March 2022 through September 2024 for between $30 and $70.

Consumers are urged to stop using the power banks immediately and contact Casely for a free replacement.

OVER 1.1M POWER BANKS RECALLED AFTER REPORTS OF FIRES, EXPLOSIONS

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The power banks should not be thrown away in the garbage since they pose a risk of fire, the commission warned. Consumers are instructed to contact local household hazardous waste collection centers for disposal guidance.

This post was originally published here

WASHINGTON — A growing divide in Iran’s leadership is spilling into public view, as U.S. Ambassador to the United Nations Mike Waltz warned Sunday that conflicting signals from Tehran’s civilian and military leadership are heightening global economic risk and uncertainty around critical shipping routes.

Speaking on NBC’s Meet the Press on April 19, Waltz said Iran’s Foreign Ministry and the powerful Islamic Revolutionary Guard Corps (IRGC) are no longer aligned on key strategic decisions, particularly regarding maritime access and escalation in the region. “The foreign minister says it’s open. The IRGC says it’s closed,” Waltz stated, pointing to what U.S. officials increasingly see as a fractured command structure inside the Iranian regime.

The comments come at a sensitive moment for global markets, where even the perception of instability in Middle East shipping corridors—particularly the Strait of Hormuz—can trigger volatility in energy prices, insurance costs, and supply chains. Roughly one-fifth of the world’s oil supply flows through the narrow passage, making it one of the most strategically important choke points in the global economy.

Waltz emphasized that ultimate control over maritime security will not be dictated by Tehran. “Regardless, it’s the U.S. Navy and President Trump as the commander-in-chief that decides what ultimately comes in and comes out,” he said, underscoring Washington’s willingness to assert military and economic leverage to keep global trade routes open.

The internal contradiction in Iran’s messaging reflects a broader tension between its diplomatic corps and the IRGC, which operates with significant autonomy and controls key military and economic assets, including naval forces responsible for activity in the Persian Gulf. Analysts say this dual-power structure has long complicated negotiations with the West, as commitments made by civilian officials are not always consistently enforced by military actors on the ground.

“This is not new, but it is becoming more visible and more consequential,” said Vali Nasr, professor of international affairs at Johns Hopkins University, noting that “when markets see mixed signals from Tehran, they price in risk—not just of conflict, but of miscalculation.”

The Biden-era framework for managing tensions with Iran had relied heavily on diplomatic channels through the Foreign Ministry, but recent developments suggest that the IRGC may be increasingly setting the tone, particularly in areas tied to regional security and economic leverage. That shift raises concerns among U.S. and allied officials that even if diplomatic openings emerge, enforcement remains uncertain.

Waltz framed the issue not just as a regional security concern, but as a global economic threat. “The Iranian regime cannot hold the entire world’s economy hostage,” he said, adding that attempts to disrupt shipping or energy flows amount to “collective punishment” over disputes tied to Iran’s nuclear ambitions.

Energy markets have already begun reacting cautiously. While oil prices have not yet surged dramatically, traders are building in a geopolitical premium amid rising rhetoric and the possibility of escalation. Maritime insurers have also started reassessing risk exposure in the Gulf, which could translate into higher shipping costs and downstream inflationary pressure globally.

From a business standpoint, the implications extend far beyond energy. Disruptions—or even perceived threats—can ripple across manufacturing, logistics, and commodities markets. Multinational firms with exposure to Middle Eastern supply chains are increasingly factoring geopolitical instability into their risk models, particularly as tensions intersect with broader global trade fragmentation.

The U.S. response, as outlined by Waltz, signals a more assertive posture aimed at deterring disruption before it materializes. By emphasizing the role of the U.S. Navy in safeguarding transit routes, Washington is attempting to reassure markets while also sending a direct message to Tehran’s military leadership.

Still, the underlying concern remains: a fragmented Iranian command structure increases the risk of unintended escalation. If the Foreign Ministry signals openness while the IRGC acts independently, the potential for misinterpretation—by markets, governments, or military forces—rises sharply.

For now, the focus will remain on whether Iran can present a unified position or whether internal divisions deepen, further complicating diplomacy and increasing volatility across global markets.

What happens next will likely hinge on two parallel tracks: whether diplomatic channels regain coherence within Iran’s leadership, and whether the U.S. continues to reinforce its deterrence posture without triggering a broader confrontation. For global business leaders, the message is clear—this is not just a geopolitical story, but a live economic risk with immediate and far-reaching consequences.

—JBizNews Desk

WASHINGTON / OTTAWA — U.S. Commerce Secretary Howard Lutnick said Friday that the Trump administration is preparing to revisit the United States–Mexico–Canada Agreement (USMCA), warning that the current trade deal “needs to be reconsidered and reimagined” as it approaches its formal review in the coming months.

Speaking at a Semafor-hosted conference, Lutnick delivered a blunt assessment of the pact that governs more than $1.5 trillion in annual North American trade, signaling that President Donald Trump views the agreement as structurally imbalanced despite preserving duty-free access for most goods across the region.

“Making Mexico and Canada be treated like Georgia and Alabama without them being committed…it’s a bad trade deal,” Lutnick said. “There’s plenty of good in it, but there’s a huge amount of bad in it, and it needs to be reconsidered for the benefit of America.”

The USMCA, which replaced NAFTA in 2020, includes a built-in six-year review mechanism designed to assess performance and determine whether the agreement should be extended or revised. That review is now drawing heightened attention from policymakers and business leaders alike, as early signals from Washington point to potential changes that could ripple across integrated supply chains in manufacturing, agriculture and energy.

The remarks have injected fresh uncertainty into corporate planning across North America, where companies have long relied on predictable trade rules to guide investment and hiring decisions. The agreement has been especially critical for Canada and Mexico, whose exports to the United States largely flow tariff-free under its provisions.

Canadian Prime Minister Mark Carney has emphasized the importance of stability in cross-border trade, framing the agreement as essential to economic growth and job creation. “Canada’s prosperity is built on strong and reliable trade relationships,” Carney said in recent remarks, adding that his government would “defend the interests of Canadian workers and businesses” as the review process unfolds.

Canada’s Minister of Export Promotion, International Trade and Economic Development, Mary Ng, struck a similar tone, signaling openness to discussions while underscoring Ottawa’s position that the agreement remains fundamentally sound. “USMCA is a modern, high-standard agreement that benefits all three countries,” Ng said. “We will approach the review constructively while firmly defending Canada’s interests.”

In Mexico, President Claudia Sheinbaum has also stressed the importance of maintaining North America’s economic integration, particularly at a time of intensifying global competition. “Trade integration in North America has been fundamental to our shared prosperity,” Sheinbaum said, noting that Mexico would work with its partners to strengthen the agreement while safeguarding national priorities.

Mexico’s Economy Secretary Marcelo Ebrard indicated that Mexico is preparing for negotiations but expects any revisions to remain balanced. “We are ready for the review process,” Ebrard said. “The agreement has delivered results, and any modernization should reinforce regional competitiveness—not weaken it.”

While the administration has yet to outline specific proposals, trade analysts expect the review to focus on tightening rules of origin, particularly in the automotive sector, strengthening enforcement of labor and environmental provisions, and updating digital trade rules to reflect evolving technologies. Officials are also expected to push for measures that encourage more production within the United States, a central theme of the administration’s broader economic agenda.

Lutnick’s comments reflect a deeper concern within the administration that the current framework provides broad market access without sufficient alignment on economic and regulatory commitments. That view is likely to shape the U.S. negotiating posture as talks begin.

Any move to significantly alter the agreement carries high stakes. The USMCA underpins decades of economic integration, with supply chains that often cross borders multiple times before goods reach consumers. For U.S. companies, changes could create new domestic opportunities but also introduce cost pressures and operational disruptions. For Canada and Mexico, whose economies are more dependent on U.S. trade, the risks are even more pronounced.

As the review approaches, the tone set by Lutnick suggests that negotiations may extend beyond routine updates, setting the stage for a consequential test of North America’s economic partnership and the future direction of regional trade.

—JBiz News Desk

The Israeli shekel is again pressing against historic highs, trading just below the NIS 3-per-dollar threshold after briefly breaking through the level for the first time since the mid-1990s, a move that is reshaping both household purchasing power and investment returns. Bank of Israel data and interbank market pricing on Sunday showed the currency hovering near NIS 2.98 per dollar, capping an appreciation of more than 20% over the past 18 months, even as the U.S. dollar has weakened broadly across global markets.

For Israeli consumers, the stronger currency is translating into tangible gains in purchasing power. Imported goods—from electronics and vehicles to raw materials and energy inputs—are becoming cheaper in shekel terms, easing inflationary pressures and lowering costs for businesses reliant on global supply chains. Travel abroad has also become more affordable, with Israelis effectively getting more value per dollar or euro spent overseas.

“A stronger shekel increases real purchasing power for households and reduces the cost of imports across the economy,” said Ofer Klein, chief economist at Harel Insurance and Finance. “It has a moderating effect on inflation, particularly in categories tied to global pricing such as fuel, consumer goods, and durable imports.”

Yet that same strength is creating a very different reality for investors. While the S&P 500 delivered gains approaching 30% over the past year, Israeli savers invested in unhedged, dollar-denominated vehicles—such as passive ETFs, pension tracks, and retirement funds linked to U.S. indices—have seen those returns significantly reduced once converted back into shekels. Institutional performance data through early 2026 show returns in the low single digits for fully dollar-exposed strategies, compared with roughly 25%–30% in domestically managed equity tracks.

“For many years, I have said this is a problematic path for Israeli savers,” said Tamir Hershkovitz, senior vice president and head of investments at Ayalon Insurance and Finance. “Investing in the S&P 500 is excellent—but linking it fully to the dollar, without managing currency exposure, creates a mismatch. The saver earns and spends in shekels, so currency movements can erase a large portion of the gains.”

He added, “A balanced portfolio with limited foreign-exchange exposure is increasingly necessary in this environment.”

The divergence highlights how currency dynamics have become a dominant factor in portfolio performance. Israeli institutional investors—including pension funds and insurance companies—have been actively rebalancing portfolios by selling dollars after strong gains in overseas markets and reallocating into shekel-denominated assets. These transactions, including spot conversions and hedging strategies, are adding further upward pressure on the currency.

“In the last 12 months, U.S. equities rose by around 30%, but the dollar weakened by roughly 20%, cutting the effective return for Israeli investors dramatically,” said Idit Moskovich, manager of the trading room at First International Bank of Israel. “Investors fully exposed to foreign currency—especially through passive U.S. index products—must factor this in. Currency hedging is becoming essential, not optional.”

Beyond financial flows, structural drivers are reinforcing the shekel’s strength. Israel’s export engine—particularly in technology, defense, and natural gas—continues to generate substantial foreign currency inflows. These revenues are routinely converted into shekels for domestic use, creating sustained demand for the local currency.

“We are seeing a combination of strong export inflows and institutional activity all supporting the shekel,” said Klein. “When you add global dollar weakness and improving geopolitical expectations, you get a powerful alignment of forces.”

Geopolitical sentiment is also influencing the currency’s trajectory. Markets are increasingly pricing in a more stable regional outlook, which has supported continued capital inflows into Israeli assets. Even amid intermittent tensions, analysts note that global investors have maintained exposure to Israel, signaling confidence in the country’s economic resilience.

“Even in periods of uncertainty, capital continues to flow into Israel,” said Hershkovitz. “That reflects long-term confidence in the economy and helps explain why the shekel remains strong despite external challenges.”

At the corporate level, multinational activity is further contributing to demand. Global firms operating in Israel convert foreign earnings into shekels for payroll and local investment, while exporters continue to repatriate revenues. At the same time, importers benefit from lower costs, which can feed through into consumer pricing and corporate margins.

Still, the rapid pace of appreciation is raising concerns, particularly among exporters. A stronger shekel makes Israeli goods more expensive abroad, reducing competitiveness and squeezing profit margins.

“The speed of appreciation is critical,” said Klein. “If a company operates with a 10%–15% margin and the currency strengthens by more than 20%, that margin can effectively be wiped out. That creates real pressure on exporters and could eventually impact growth.”

Despite these concerns, economists do not expect immediate direct intervention from the Bank of Israel. The central bank, led by Governor Amir Yaron, holds more than $200 billion in foreign exchange reserves but has shifted away from frequent currency market intervention.

“The Bank of Israel is more likely to act through interest rate policy rather than direct foreign exchange intervention,” said Klein. “Currency intervention is typically reserved for extreme market conditions, which we are not seeing right now.”

Looking ahead, the outlook for the shekel remains tied to both domestic fundamentals and global developments. Continued export strength, stable geopolitical conditions, and a weaker dollar could sustain the current trend. However, shifts in U.S. monetary policy, global market corrections, or renewed regional tensions could quickly reverse the currency’s trajectory.

“Currency markets can change direction very quickly,” Klein added. “If global markets turn or geopolitical risks increase, the shekel could weaken just as fast as it strengthened. The current levels are not guaranteed.”

For Israeli households, the story is one of mixed outcomes: stronger purchasing power at home and abroad, but diminished returns on global investments. For investors and policymakers alike, the shekel’s rise underscores a broader shift—currency exposure is no longer a secondary consideration but a central factor in economic and financial decision-making.

As the shekel hovers near historic highs, the question is no longer just how strong it can get—but how long the forces behind its rise can remain in place before the cycle turns.

JBizNews Desk- Tel Aviv

BEIJING — China’s economy expanded 5.0% year-over-year in the first quarter of 2026, matching Beijing’s annual growth target, according to official data released by the National Bureau of Statistics (NBS), as policymakers point to steady industrial output and consumption while warning of mounting external risks.

“The national economy got off to a stable start and maintained steady growth momentum,” NBS spokesperson Liu Aihua said at a press briefing in Beijing, adding that “the external environment is becoming more complex and severe,” with global uncertainties weighing on the outlook.

The headline figure was supported by stronger-than-expected industrial production and retail sales. Industrial output rose 6.1% year-over-year in March, while retail sales climbed 4.8%, signaling improving domestic demand, according to NBS data. Fixed-asset investment also expanded 4.2% in the first quarter, led by infrastructure spending as Beijing continues to lean on state-led investment to stabilize growth.

Still, economists caution that the apparent resilience masks underlying fragility. Tao Wang, Chief China Economist at UBS, said in a note that “while headline GDP met expectations, the recovery remains uneven, with the property sector continuing to drag on overall momentum.” China’s real estate investment remains under pressure, with developers facing liquidity constraints despite targeted policy support.

External risks are also rising sharply. Escalating tensions tied to an Iran-related conflict scenario in global markets have pushed oil price volatility higher and raised concerns about supply chain disruptions. Zhiwei Zhang, Chief Economist at Pinpoint Asset Management, warned that “geopolitical tensions in the Middle East could feed into higher energy prices, which would add pressure to China’s manufacturing sector and margins.”

That concern is echoed by global institutions. The International Monetary Fund (IMF) recently noted that while China’s near-term growth is stabilizing, “geopolitical fragmentation and trade disruptions remain key downside risks to global and Chinese growth.” Higher energy costs, in particular, could complicate Beijing’s efforts to support industrial activity while keeping inflation contained.

On the policy front, Chinese authorities signaled readiness to act if conditions deteriorate. The People’s Bank of China (PBOC) has maintained an accommodative stance, and analysts expect further targeted easing. “We anticipate additional fiscal and monetary support in coming months, especially if external shocks intensify,” said Robin Xing, Chief China Economist at Morgan Stanley, pointing to potential reserve requirement ratio (RRR) cuts and expanded infrastructure funding.

Despite meeting its growth benchmark, Beijing faces a narrowing path forward. The combination of a still-weak property sector, fragile private-sector confidence, and rising geopolitical tensions leaves the sustainability of China’s recovery in question.

What comes next will largely depend on whether policymakers can successfully offset external shocks while reigniting domestic demand—a balancing act that is becoming increasingly difficult as global uncertainty deepens.

JBIZnews DeskAsia

A Kansas-based restaurant group with several steak and seafood locations in Kansas, Missouri, Minnesota, Colorado, Virginia, Nebraska and Iowa, has filed for bankruptcy.

801 Restaurant Group LLC filed for Chapter 11 reorganization last Friday in U.S. Bankruptcy Court in Kansas, the company confirmed to Fox Business.

801 Restaurant Group owns several companies that operate restaurants as 801 Chophouse, 801 Fish, or 801 Local.

“The companies that own and operate the restaurants are not in bankruptcy and there are no plans or need for them to file bankruptcy,” 810 Restaurant Group said in a press release. “The individual restaurant companies operating successfully are not impacted by the 801 Restaurant Group’s Chapter 11 filing.”

RISING FUEL COSTS THREATEN SPIRIT AIRLINES’ BANKRUPTCY EXIT PLAN: REPORTS

The company added that it became necessary to restructure because of guaranties it made to other companies it owns, including 801 Fish in downtown Denver and 801 On Nicollet in Minneapolis, which have both closed.

“The purpose of the Chapter 11 is to restructure these and other obligations for which 801 Restaurant Group has liability,” the release said.

SEARS SUED BY STANLEY BLACK & DECKER OVER CRAFTSMAN BRAND

The court filing shows liabilities totaling roughly $18.7 million, according to documents obtained by Fox Business.

The company said the filing is “not expected to have any impact on the remaining locations,” which will operate normally during their restructuring.

The restaurants that remain open include 801 Chophouses in Denver, Des Moines, Omaha Kansas City, Leawood, St. Louis Minneapolis, and Tysons Corner in the Washington, D.C. area, and 801 Fish in St. Louis.

The Des Moines restaurant was the original 801 Chophouse location, which opened in 1993.

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The Israeli shekel strengthened to around ₪3.04 per U.S. dollar, approaching historically strong levels as sustained foreign investment into Israel and a softer U.S. dollar combine to support the currency.

The move reflects a shift in global currency dynamics, with investors increasingly rotating into markets backed by strong fundamentals and innovation-driven growth.

The U.S. dollar has edged lower in recent sessions as markets begin to anticipate a more flexible stance from the Federal Reserve later this year, easing upward pressure on the greenback and allowing currencies such as the shekel to advance.

“We’re seeing broad-based dollar softness as expectations for the Fed begin to evolve,” said a senior foreign-exchange strategist at a global investment bank. “Currencies with strong underlying fundamentals, like the shekel, are benefiting.”

At the same time, Israel continues to draw robust capital inflows, particularly across its technology, cybersecurity and defense sectors—key pillars of the country’s export economy. These inflows require conversion into local currency, increasing demand for the shekel.

“Israel remains a highly attractive destination for long-term capital, especially in innovation-led industries,” said an economist focused on emerging markets. “That demand translates directly into currency strength.”

The shekel’s performance is also closely tied to the resilience of Israel’s high-tech sector, which has maintained global relevance despite broader geopolitical uncertainty.

“The shekel increasingly trades like a tech-linked currency,” said a Tel Aviv–based economist. “As long as global demand for Israeli innovation holds, the currency has structural support.”

Monetary policy has further reinforced stability. The Bank of Israel’s measured approach to inflation and interest rates has helped anchor investor expectations without introducing volatility.

“Credibility from the central bank plays a critical role in currency markets,” said a former central bank advisor. “The Bank of Israel has maintained a steady hand, which supports confidence in the shekel.”

Market participants are now closely watching whether the currency can break below the ₪3.00 per dollar level, a key psychological threshold that could accelerate gains.

“A sustained move below 3.00 could trigger additional momentum from institutional and algorithmic flows,” one FX analyst said.

Still, risks remain. Currency markets are sensitive to shifts in geopolitical conditions as well as any unexpected changes in U.S. monetary policy, both of which could quickly alter the shekel’s trajectory.

A stronger currency carries mixed implications for Israel’s economy. While it boosts purchasing power and lowers import costs, it can weigh on exporters by making goods more expensive abroad—particularly outside the high-margin technology sector.

“There’s always a balance,” said a trade economist. “A strong shekel reflects confidence, but it can pressure export competitiveness in more traditional industries.”

For now, the shekel’s rise underscores a broader trend: global investors continue to favor Israel’s economic fundamentals, even amid an uncertain international environment.

“At its core, this is a confidence story,” one economist said. “The key question is whether global conditions will continue to support it.”

JBizNews Desk

By JBizNews Desk

LONDON — April 30, 2026

Unilever PLC reported stronger-than-expected sales growth for the first quarter of 2026, powered by robust demand across its emerging markets in Asia, Africa, and Latin America.

The consumer goods giant posted underlying sales growth of 4.8% in Q1, with emerging markets delivering high-single-digit to double-digit increases in key regions including India, Brazil, and Indonesia. Beauty & personal care and foods & refreshment categories led the performance as rising middle-class consumers continued to trade up to premium brands.

Business Implications

Strong momentum in emerging markets helps Unilever offset softer conditions in developed economies and supports its long-term strategy of premiumization and volume-led growth in high-potential regions. The results reinforce investor confidence in the company’s ability to navigate global inflation and currency volatility.

Analysts expect the emerging-market tailwind to continue supporting Unilever’s full-year guidance, potentially providing a buffer against any further energy or supply-chain pressures. The stock reaction will be closely watched as markets assess whether this performance can sustain the company’s valuation amid broader consumer sector caution.

— JBizNews Desk

© JBizNews.com. All rights reserved. This article is original reporting by JBizNews Desk. Unauthorized reproduction or redistribution is strictly prohibited.

More than 350,000 vitamins and supplements were recalled due to incorrect packaging, which federal regulators said poses a “risk of serious injury or death” to children.

New Jersey-based Vitaquest International initiated the voluntary recall of about 356,140 dietary supplements that contain iron due to the lack of child-resistant packaging required by the Poison Prevention Packaging Act, according to the U.S. Consumer Product Safety Commission.

“The dietary supplements contain iron, which must be in child-resistant packaging as required by the Poison Prevention Packaging Act,” the commission said in its announcement.

TOYOTA RECALLS 73K HYBRID VEHICLES OVER PEDESTRIAN WARNING SOUND ISSUE

“The packaging of the supplements is not child-resistant, posing a risk of serious injury or death from poisoning if the contents are swallowed by young children,” the alert added.

Vitaquest International said child-resistant packaging on these products is “intended to ensure that young children do not accidentally ingest an amount of the product that could cause iron poisoning.”

The company also emphasized that the lack of child-resistant caps or storage pouches is the only concern and that there are no issues with the product formulation, ingredient quality or anything else.

“While the product formulation and iron content are safe when used as directed, we are conducting this recall to protect young children from the risk that they will get access to the products and ingest more than directed,” the company said on its website.

The recall includes prenatal vitamins as well as supplements for bariatric surgery patients who have had sleeve or band procedures. It also covers the Zenbean Kids Café Instant Coffee + Nutrition Latte, a caffeine-free coffee alternative for children sold in Original, Caramel, Chocolate and Vanilla flavors.

Affected products were sold under the brands Arey, Bari Life, Bird&Be, Biote, Dr. Fuhrman, NuLife, HMR, Bariatric Pal, Noevir, Zenbean and Sakara.

EINSTEIN BAGELS CREAM CHEESE SPREAD RECALLED OVER ALMONDS THAT COULD CAUSE LIFE-THREATENING ALLERGIC REACTION

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The products were sold at Credo Beauty, Erewhon, Healf, Nutrition World, The Vitamin Shoppe, Fullscript, Ulta Beauty, medical practitioners’ offices, brands’ websites and Amazon.com between April 2023 and February 2026 for between $13 and $130, depending on brand and size.

Consumers are urged to immediately store the supplements out of children’s reach and to contact Vitaquest International for information on how to receive a free child-resistant replacement cap or storage pouch.

No injuries have been reported thus far in connection with the recalled packaging.

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Tax season is closing in on the April 15 deadline to file your return or request an extension and a new report details some common mistakes that Americans are making throughout the year that are costing them money.

A report by GOBankingRates broke down five tax mistakes that could cost American taxpayers thousands of dollars every year.

Those common mistakes range from not claiming deductions that were available to the taxpayer or failing to track deductible expenses to misreporting income.

Here’s a look at the five tax mistakes outlined in the report.

RETIRED? HERE’S WHEN THE IRS MIGHT TAKE A CLOSER LOOK AT YOUR FINANCES

Christina Taylor, vice president of tax development and delivery at tax technology platform April, told GOBankingRates that taxpayers who only think about their returns during the filing season “miss credits and optimizations they’re actually eligible for, which is how you end up giving part of your refund back to the IRS.”

She added that last year “Americans overpaid their federal taxes by about $3,200 on average, and spent billions of dollars and 6.5 billion hours on tax prep.”

AVERAGE TAX REFUND UP NEARLY 11% FROM A YEAR AGO, IRS DATA SHOWS

Taxpayers also tend to fail to keep track of their deductible expenses over the course of the year, which happens more frequently when filers are operating under the assumption that they will claim the standard deduction rather than itemizing their return.

Those situations can be avoided if taxpayers keep track of their charitable contributions, whether made with cash or through non-cash donations, along with medical expenses and any interest expenses that they may be able to deduct from their state tax bill.

IRS REFUND TRACKER EXPLAINED: WHAT YOU NEED TO KNOW BEFORE THIS YEAR’S TAX FILING DEADLINE

Taxpayers may overpay taxes on income from their investments or from stock compensation in the form of restricted stock options or nonqualified stock options that are sold.

Jennifer Kohlbacher, a CPA and director of wealth strategy at Mariner Wealth Advisors, told GOBankingRates that taxpayers often fail to calculate or report their tax basis correctly, which can increase the amount of capital gains taxes they owe.

Taxpayers who operate a small business or are self-employed are required to make estimated tax payments to the IRS each quarter throughout the year, and failing to pay the appropriate amount can cause the taxpayer to face penalties for the amount underpaid as well as any related interest.

Life changes that affect a tax filer’s status, like getting married or having a child, are situations in which taxpayers should update their withholding information to account for the change, which can reduce the size of their refund by raising their take-home pay. 

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Taxpayers may make mathematical errors when filing or make typos in their tax return that could cause the IRS to flag a tax return for review or even an audit.

Reviews by the IRS can also cause taxpayers’ tax refunds to be delayed.

This post was originally published here

A new report from Gallup finds that U.S. workers are less optimistic about the job climate and their level of engagement with their current jobs has remained relatively flat.

Gallup released its 2026 State of the Global Workplace report on Wednesday, which showed that while 51% of global workers think it’s a good time to find a quality job, the sentiment among U.S. workers declined to 28% in the fourth quarter of 2025.

That figure represents a notable decline from 46% in the fourth quarter of 2024, continuing a steep downward trend from the 70% reading in the second quarter of 2022.

“Folks with degrees, they’re having a particularly difficult time finding a job,” Jim Harter, chief scientist of workplace management and well-being for Gallup, told FOX Business. “So there’s really a kind of interesting dynamic going on right now where unemployment is fairly low, it’s on the uptick a little bit, but hiring isn’t happening.”

MORE AMERICAN WORKERS ARE STRUGGLING THAN THRIVING FOR FIRST TIME: POLL

“The job climate, just in terms of people’s freedom, they’re feeling stuck where they’re at. Part of the solution to that is organizations need to get better at driving systems of really solid performance management and good communication between managers and employees,” Harter said.

When workers feel stuck and like they don’t have a choice about finding another quality job, Harter said that their “engagement will start to drop, and active disengagement will start to go up when people lack choice because they’re stuck in jobs that they don’t want.”

Workers who said they’re looking to find a new job reported not getting much of a response even after applying for multiple jobs, Gallup found.

“We do see that people are applying for jobs, but they’re just not getting much response. There’s just not much out there from a hiring standpoint right now,” Harter said. “It’s just not a really good time right now on the hiring end and, again, unemployment’s fairly low, so people are in jobs – but they’re jobs that they don’t consider to be high quality jobs.”

AMERICAN WORKERS’ WAGE GAINS LOST MOMENTUM IN MARCH DESPITE STRONG HIRING, ECONOMISTS SAY

Harter noted that among respondents who say they have the ability to do multiple things, their perception of the job climate was more favorable. 

“I think that there’s a big factor in terms of upskilling related to AI that could be a big component of people being able to find jobs going into the future,” he added.

The report’s findings also demonstrated conditions that Gallup has called the “Great Detachment” in which people are actively looking for work or watching for openings while also reporting low levels of satisfaction with their current employer.

“Even though the employees have less choice in terms of leaving their employer to go somewhere else, there’s psychological turnover meaning they’re not bringing their whole selves to help the organization improve,” Harter said.

US ECONOMY ADDED 178,000 JOBS IN MARCH, WELL ABOVE EXPECTATIONS

The report also found that the three-year rolling average of engaged workers declined a point to 31%, with 52% of workers not engaged and 17% actively disengaged. At 31%, the level of engagement among U.S. workers is at its lowest level since 2014, while the share of actively disengaged workers at 17% was also at 2014 levels.

By contrast, Harter said that the top organizations have 70% or more of their employees engaged, along with managers who are engaged to an even greater extent.

“When you look closely at organizations that are really doing a great job right now, they are figuring out ways to get it done,” he said. “They actually upskill their managers, they get people into the right managerial role – that helps when you flatten the organization and people can take on a higher span of control as managers. They help people see how their work connects to the bigger purpose of the organization.”

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“What we’re talking about here is very solvable, but it’s an uphill, kind of against-the-wind battle right now where leaders need to be very intentional about what they do with their staff and particularly with their managers and how they get prepared to coach people on a regular basis and help people feel like they’re a part of what the overall organization is trying to get done,” Harter added.

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Toyota is recalling more than 73,000 hybrid vehicles over a pedestrian warning sound issue, according to the National Highway Traffic Safety Administration (NHTSA).

Certain 2023–2025 Toyota Corolla Cross Hybrid vehicles are affected by the recall effort because they do not make a loud enough sound while in reverse, making it harder for pedestrians to hear and increasing the risk of injury.

“The vehicles may fail to make sufficient pedestrian warning sounds when in reverse,” the NTSB said in its announcement.

TOYOTA RECALLS MORE THAN 144,000 LEXUS VEHICLES OVER REARVIEW CAMERA FAILURE RISK

“As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 141, ‘Minimum Sound Requirements for Hybrid and Electric Vehicles,'” the agency continued.

A total of 73,528 vehicles are affected by the recall, although only about 1% of them are likely to have the defect.

The recall numbers are 26TB08 and 26TA08.

Toyota dealers will update the software on the affected vehicles free of charge to fix the pedestrian warning sounds.

FORD RECALLS MORE THAN 254,000 SUVS DUE TO SOFTWARE ISSUES

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Owner notification letters alerting consumers of the safety risks are expected to be mailed out by May 30, 2026.

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American retirees may be done with their working careers, but they may still face the scrutiny of an IRS audit if their tax return raises red flags.

Data from the IRS shows the tax collection and enforcement agency has conducted audits on fewer than 1% of individual tax returns in recent years. 

In the tax years from 2014 through 2022, the IRS reported that it examined 0.4% of all individual tax returns filed – though that figure rises to 7.9% of taxpayers who filed returns with income of $10 million or more.

Retirees generally have simpler tax returns that may not involve the kinds of tax credits that may warrant additional scrutiny, and while it’s unclear from the agency’s data how often the IRS audits retired Americans, there are some things that can attract the attention of auditors.

AVERAGE TAX REFUND UP NEARLY 11% FROM A YEAR AGO, IRS DATA SHOWS

High-income taxpayers are more likely to face IRS audits, so while retirees may not be earning income from work, they may face an audit if they have relatively high income from investments and capital gains or from retirement plan distributions.

The IRS in recent years has signaled that it won’t raise audit rates on taxpayers earning under $400,000 while it aims to focus enforcement on higher-income taxpayers.

Retirees who neglect to report all of their taxable income may also face IRS scrutiny. It’s important for taxpayers to submit copies of all tax documents they receive, including 1099s that may cover retirement income, interest income and Social Security benefits as well as a W-2 for any work they did as an employee.

IRS REFUND TRACKER EXPLAINED: WHAT YOU NEED TO KNOW BEFORE THIS YEAR’S TAX FILING DEADLINE

report by Kiplinger notes that retirees who gamble must also report their winnings and losses, though the process is different for recreational and professional gamblers. Failing to disclose those, or only attempting to write off losses while not reporting winnings, can prompt additional scrutiny.

Taxpayers who are receiving income from retirement plans like traditional IRAs and 401(k) plans should be aware of the need to receive and report any required minimum distributions (RMDs) for those plans. 

Currently, retirees face RMDs when they turn 73 and failing to take those withdrawals can trigger a penalty in the form of a 25% excise tax on the amount that wasn’t distributed as required.

IRS WARNS AMERICANS TO BEWARE OF DANGEROUS NEW SCAMS THIS TAX SEASON

Retirees who are still working part-time or own a business need to ensure they’re accurately reporting that income or any deductions they’re claiming, as those could prompt the scrutiny of the IRS. Those who claim business loss deductions for a small business or side gig could have the IRS deem the activity a “hobby” and disallow those deductions.

Reporting large charitable contributions can also trigger a review by the IRS, particularly if the taxpayer’s reported donations represent a large portion of their income or include relatively valuable non-cash gifts to a charitable organization.

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The IRS has also placed an emphasis on international tax compliance, so taxpayers who have foreign bank accounts or income from overseas should ensure they report those on their tax return to avoid a higher risk of an audit or penalties.

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Mortgage rates rose this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.46% from last week’s reading of 6.38%. 

The average rate on a 30-year loan was 6.64% a year ago.

“With spring homebuying season in full swing, aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes,” said Sam Khater, Freddie Mac’s chief economist.

LOS ANGELES LEADS NATION IN MASSIVE POPULATION EXODUS AS ‘BREAKING POINT’ HITS GOLDEN STATE

The average rate on a 15-year fixed mortgage ticked higher to 5.77% from last week’s reading of 5.75%.

MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST HOUSING MARKET FOR BUBBLE RISK

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.3% as of Thursday afternoon.

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American workers held their jobs in force last week, sending a signal that the U.S. labor market remains one of the most resilient in a half-century — even as a drumbeat of economic warnings grows louder on the horizon.

The Labor Department reported Thursday that initial unemployment claims totaled 189,000 for the week ending April 25, falling 26,000 from a revised prior-week figure of 215,000 — the lowest reading in more than 50 years.  According to High Frequency Economics, the figure was the fewest new applications since September 1969.  The median forecast in a Bloomberg survey of economists had called for 212,000 applications. 

The four-week moving average — a measure that smooths out week-to-week swings — stood at 207,500, down 3,500 from the prior week’s revised figure. Continuing claims, a proxy for the number of people actively collecting unemployment benefits, dropped to 1.785 million for the week ending April 18, the lowest in two years. The insured unemployment rate held steady at 1.2%. 

The report landed the same morning the Commerce Department delivered a separate snapshot of the broader economy. GDP expanded at a 2% annualized rate in the January-through-March period, up sharply from the fourth quarter’s 0.5% pace, driven by resilient consumer spending, a surge in business investment, higher exports, and a rebound in government outlays that had been crimped by the record-long federal shutdown in late 2025.  Economists surveyed by FactSet had projected a 2.2% rate. 

Beneath the headline numbers, the underlying picture showed more vigor. Real final sales to private domestic purchasers — the so-called “core GDP” measure that strips out volatile government spending, inventories, and trade flows — grew at a 2.5% annualized clip, accelerating from 1.8% in the prior quarter. 

Yet the same report carried a clear warning. An uptick in imports, which rose at an annual rate of 21.4% from January through March, carved more than 2.6 percentage points off first-quarter growth.  And the economy now faces a war it did not fully absorb in Q1. The Iran conflict has sent energy prices skyrocketing due to a slowdown of traffic through the Strait of Hormuz, a critical chokepoint for global oil supply. On Thursday, the national average for a gallon of gasoline hit $4.30, the highest level since July 2022. 

Michael Pearce, chief U.S. economist at Oxford Economics, noted that the AI buildout and the tax cuts are continuing to feed through the economy but warned that the jump in energy prices will take some of the shine off what would otherwise have been a strong year. 

Olu Sonola, head of U.S. economics at Fitch Ratings, called it an AI-driven economy and cautioned that the longer the conflict with Iran drags on, the greater the risk that higher energy prices push inflation up and ultimately dampen growth. 

Heather Long, chief economist at Navy Federal Credit Union, put it plainly: companies and investors tied to AI are on fire, while middle and moderate-income households are struggling with high gas prices, slowing consumption as they manage mounting bills and growing unease about the future. 

The Personal Consumption Expenditures price index — the Federal Reserve‘s preferred inflation gauge — showed inflation running at a 3.2% annual rate in the first quarter, well above the Fed’s 2% target.  EY-Parthenon chief economist Gregory Daco projected the war could drag GDP down by 0.3 percentage points for the full year, with annual growth expected at 1.8% — a step down from the 2.1% pace recorded in 2025. 

On the jobs front, the historic claims figure is not without caveats. Carl Weinberg, chief economist at High Frequency Economics, cautioned that at some point, elevated energy costs and materials prices will cause firms to lay off marginal workers to protect profit margins.  The warning is not yet visible in the data — but economists are watching.

For now, the U.S. labor market is holding firm in the face of a war, elevated inflation, and high borrowing costs — a combination that has tripped up economies in the past. The question is how long that resilience holds.

JBizNews Desk.

© JBizNews.com. All rights reserved. This article is original reporting by JBizNews Desk. Unauthorized reproduction or redistribution is strictly prohibited.

Companies in the private sector added 62,000 jobs in March, payroll processing firm ADP said Wednesday.

The figure is above economists’ estimates of a gain of 40,000 jobs. The prior month’s payrolls number was revised higher to a gain of 66,000 from an initially reported gain of 63,000.

“Overall hiring is steady, but job growth continues to favor certain industries, including health care,” said ADP chief economist Nela Richardson. “In March, this solid performance was accompanied by a boost in pay gains for job-changers.”

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Norway shows the potential pitfalls of uncommon prosperity

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BlackRock CEO Larry Fink recently published his annual chairman’s letter and noted the significance of America’s 250th anniversary this year, drawing a parallel to a similar milestone for the modern economy.

“In July, the United States will celebrate the country’s 250th birthday. But 2026 is more than an American celebration,” Fink wrote.

“It’s a quirk of history that in 1776, as Thomas Jefferson was drafting the Declaration of Independence in Philadelphia, Adam Smith was publishing ‘The Wealth of Nations’ in Scotland – the foundational text of modern economics.”

“But what began as a coincidence has, over time, become interdependence. The two concepts strengthen each other: Democracy depends on people feeling they have a genuine stake in their country’s future. And the capital markets are now the mechanism that can make that stake real – real in dollars, euros, yen,” he said.

BLACKROCK’S LARRY FINK SAYS EXPANDING MARKET PARTICIPATION IS NEEDED TO ADDRESS WEALTH GAP AMID AI BOOM

“Think about how new this all is. In 1776, there was no broad system of capital markets connecting ordinary citizens to economic growth. Today, the global capital markets – public and private – approach $300 trillion in value. And most of that growth happened in the last four decades,” Fink said.

“BlackRock has grown up alongside this transformation. And what we’ve seen, in country after country, is that the stories I’ve just shared are only the beginning,” he wrote. 

“Much of the world is still in the early stages of building markets that allow people not only to fuel their economies – but also to own a meaningful stake in the growth they create.”

BLACKROCK CEO SAYS TRUMP ACCOUNTS COULD BE A ‘VERY SIGNIFICANT STEP’ FOR YOUNG AMERICANS

Fink’s letter discussed how long-term investing can perform a “kind of “civic miracle” in how financial markets spur economic growth.

“When people invest their savings – over decades, not days – the capital markets put that money to work, financing companies, infrastructure, and jobs. And when that cycle happens in your own country, your future and your nation’s future become linked,” Fink wrote. 

“You help finance its growth. It helps finance yours,” he said.

BLACKROCK’S LARRY FINK SAYS US STILL TOP DESTINATION FOR GLOBAL INVESTORS TO PARK MONEY

Fink went on to say that his belief in the civic miracle of long-term investing is shaped not only by his decades of work in the financial sector, but also by his upbringing with a father who owned a shoe store and a mother who was an English teacher.

“They didn’t come from a lot of money… But they saved what they could and invested it,” he said.

“This was the 1950s and ’60s, right when the Interstate Highway System was being built, the mid-century industrial boom was taking off, and the auto sector was reshaping American life. And in their own small way, they helped finance all of that. They were part of the capital that built modern America.”

“Over time, the gains flowed back to them. By the time they retired, they had enough savings to live comfortably well past 100. Because their wealth compounded alongside the American economy,” Fink said.

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He added that the process is continuing to play out around the world and that BlackRock’s goal is to help facilitate that civic miracle to grow the wealth of Americans.

“That civic miracle continues to unfold around the world. Extending it – so that more people can invest in their country’s growth and share in its rewards – is the task in front of us,” Fink wrote.

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Mortgage rates spiked this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.38% from last week’s reading of 6.22%. 

The average rate on a 30-year loan was 6.65% a year ago.

“The housing market continues to show gradual improvements compared to a year ago amid recent rate volatility,” said Sam Khater, Freddie Mac’s chief economist. “Purchase and refinance applications are up year-over-year.”

MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST HOUSING MARKET FOR BUBBLE RISK

The average rate on a 15-year fixed mortgage climbed to 5.75% from last week’s reading of 5.54%.

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Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.38% as of Thursday afternoon.

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The U.S. Postal Service is reportedly planning to impose a fuel surcharge on package deliveries for the first time in the agency’s history amid surging fuel costs.

The Wall Street Journal reported that the Post Service is planning an 8% surcharge beginning in April and that the agency currently plans to phase it out in January 2027, according to two people familiar with the matter.

According to the report, the fuel surcharge will only apply to packages and won’t impact letter mail.

The move comes as both FedEx and UPS have longstanding fuel surcharges that have been increased in recent weeks as oil prices surged due to the Iran war disrupting oil flows from the Middle East.

POSTAL SERVICE SAYS CASH COULD RUN OUT IN UNDER A YEAR WITHOUT CHANGES

Diesel prices have surged to $5.366 a gallon as of Wednesday, up from $3.749 a month ago – an increase of more than 43% in that period.

The Postal Service has faced long-term financial challenges and Postmaster General David Steiner told Congress earlier this month that the agency is on pace to run out of cash in less than a year without significant reforms.

Steiner testified before a House Oversight subcommittee and told lawmakers that the USPS needs higher stamp prices and the ability to borrow more money.

He also called for other reforms, including changes to pension funding and liabilities calculations, workers’ compensation and retirement fund investment strategies.

POSTAL SERVICE CAN’T BE SUED FOR INTENTIONALLY NOT DELIVERING MAIL, SUPREME COURT RULES IN 5-4 SPLIT

Steiner also put forward options for cutting costs, including ending six-day-a-week deliveries, closing post offices or raising first-class mail stamp prices from the current 78 cents to $1 or more.

He said that if USPS reduced deliveries to five days a week, it would save the agency about $3 billion per year, while closing small post offices in remote areas would save about $840 million.

However, he cautioned that those options “may not be palatable to Congress or the American public.”

US POSTAL SERVICE RECORDS WHOPPING $6.5 BILLION NET LOSS FOR 2023

Stamp prices have risen 46% since early 2019, when they were last 50 cents. Steiner argues those prices are still far lower than postage costs in other countries.

USPS has also reached its current borrowing cap of $15 billion, precluding the agency from taking out additional loans.

“In order to survive beyond the next year, we need to increase our borrowing capacity so that we don’t run out of cash,” Steiner said in prepared testimony. “The failure to do this could lead to the end of the Postal Service as we know it now.”

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Since 2007, USPS has reported net losses of $118 billion as volumes of its most profitable product, first-class mail, fell to the lowest level since the late 1960s.

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Residents of a Texas city were urged to shelter in place following an explosion and fire at a Valero oil refinery that sent massive plumes of smoke billowing into the air. 

The incident happened Monday at Valero’s Port Arthur Refinery, which is located about 90 miles east of Houston and processes around 435,000 barrels per day. The company says about 770 employees work at the site, but there were no injuries, according to Port Arthur Mayor Charlotte Moses. 

“There’s been an explosion, yes, but we’re OK, everybody’s OK,” Moses said in a video posted on Facebook late Monday. “They’re trying to put the fire out as quickly as possible. They are working fast, our firefighters are on the scene. They’re working really hard.” 

Port Arthur is advising residents who live in the areas of Stillwell Boulevard West to South of Highway 73, Sabine Pass and Pleasure Island to adhere to an “immediate shelter in place.” 

ENERGY PRICES COULD FALL ‘PRETTY SIGNIFICANTLY’ IF IRAN DEAL REACHED, ENERGY SECRETARY SAYS 

“For your safety, please remain in place until the ‘All Clear’ is given by emergency personnel,” the city said. 

Port Arthur has a population of around 56,000.

“Currently, there is a fire in a unit at Valero’s Port Arthur, Texas refinery,” Valero told FOX Business in a statement on Tuesday morning. “All personnel have been accounted for. Valero’s emergency response team is responding and coordinating with local authorities. As a precaution, Jefferson County officials have closed State Highways 82 and 87. As always, the safety of our workers is our top priority.”

ONE YEAR LATER, LOS ANGELES RESIDENTS CONTINUE TO FACE REBUILDING CHALLENGES: ‘FATIGUE FACTOR’ 

Jefferson County Sheriff Zena Stephens told FOX4 Beaumont that an industrial heater was likely behind the explosion. 

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“Emergency response coordinators and regional staff have been deployed with handheld and mobile air monitoring assets in response to the Valero fire in Port Arthur, TX and are coordinating activities through incident command,” the Texas Commission on Environmental Quality wrote on X. 

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With luck, the Iran war won’t cause a recession. But the surge in energy prices will push up the cost of living

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United Airlines is slashing flights as soaring fuel prices tied to the Iran war hit U.S. carriers, becoming the first major U.S. airline to announce a cut to capacity after weeks of industry warnings.

United CEO Scott Kirby said in a staff memo released Friday that the airline will cut about 5% of capacity by trimming less profitable routes. He said the company is preparing for a prolonged period of elevated fuel prices, modeling oil at $175 per barrel and expecting it could remain above $100 through the end of 2027.

“The reality is, jet fuel prices have more than doubled in the last three weeks,” Kirby said in a statement. “If prices stayed at this level, it would mean an extra $11B in annual expense just for jet fuel. For perspective, in United’s best year ever, we made less than $5B.”

Kirby stressed the airline is not panicking and plans to manage the short-term pressure by cutting unprofitable flying while continuing its long-term growth strategy.

ELON MUSK OFFERS TO PAY TSA WORKERS’ SALARIES AMID DHS BUDGET STANDOFF

United said the cuts will total about 5 percentage points of its planned capacity, including roughly 3 points from off-peak flying such as midweek and overnight routes, about 1 point from reductions at Chicago O’Hare, and another 1 point tied to suspended service to Tel Aviv and Dubai. The airline expects to restore its full schedule in the fall.

Despite the pullback, Kirby said demand remains strong, noting that the airline has recorded its “10 biggest booked revenue weeks” in its history over the past 10 weeks.

He emphasized that United is not responding to the fuel shock with drastic measures seen in past downturns, such as furloughs or delaying aircraft orders. Instead, the airline plans to continue taking delivery of about 120 new planes this year, including 20 Boeing 787s, with another 130 aircraft due by April 2028, he said.

MAJOR AIRLINE SUSPENDS ABU DHABI FLIGHTS UNTIL END OF YEAR AMID AIRSPACE ‘UNCERTAINTY’

“To be clear, nothing changes about our longer-term plans for aircraft deliveries or total capacity for 2027 and beyond, but there’s no point in burning cash in the near term on flying that just can’t absorb these fuel costs,” he said.

The strategy, Kirby said, is to cut unprofitable flying in the near term while continuing to invest in long-term growth.

Other airlines, meanwhile, have so far stopped short of announcing major flight cuts, underscoring how United is among the first U.S. carriers to move from warnings to action as fuel costs surge.

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Delta Air Lines has said it could trim capacity if fuel prices stay elevated, according to Reuters, while other major U.S. carriers have so far relied on fare hikes to offset rising costs.

International carriers have moved faster, with airlines including Qantas, Scandinavian Airlines and Thai Airways raising prices, and Air New Zealand canceling more than 1,000 flights, according to earlier reports.

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Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday that she’s penciled in multiple rate cuts before the end of the year.

“I’m still concerned about the job market,” Bowman, considered one of the more hawkish members of the Federal Open Market Committee, said during an interview on FOX Business Network’s “Mornings with Maria.” I want to see a little bit of recovery there. But, of course, I’ve written three cuts in for before the end of 2026 to hopefully support the labor market.”

Bowman also said she expects to continue to see strong economic growth this year.

FEDERAL RESERVE HOLDS INTEREST RATES STEADY

Her comments come after the FOMC on Wednesday voted 11-1 to leave the benchmark federal funds rate unchanged at a range of 3.5% to 3.75%. It marked the second straight meeting with rates being held steady after three successive 25-basis-point cuts in September, October and December to end last year.

Policymakers also released a summary of economic projections (SEP), which showed that the median projection for interest rates sees just one 25 basis point cut the rest of this year followed by a single cut of that size in 2027.

WILL THE FEDERAL RESERVE CUT INTEREST RATES IN 2026?

“In our SEP, FOMC participants wrote down their individual assessments of an appropriate path for the federal funds rate under what each participant judges to be the most likely scenario for the economy,” Federal Reserve Chair Jerome Powell said. “The median participant projects that the appropriate level of the federal funds rate will be 3.4% at the end of this year and 3.1% at the end of next year, unchanged from December.”

During the press conference following the Fed’s interest rate decision, Powell was asked what officials were seeing that led them to project a cut despite higher forecasts for both inflation and unchanged projections for the unemployment rate and economic growth. 

FED’S POWELL SAYS IT’S ‘TOO SOON TO KNOW’ IRAN WAR’S IMPACT ON ECONOMY

“Essentially, the forecast is that we will be making some progress on inflation, not as much as we had hoped, but some progress on inflation,” Powell said. “It should come as we start to see in the middle of the year progress on tariffs going through once and then tariff inflation coming down. We should be seeing that.”

The latest rate decision comes amid a softening labor market and growing uncertainty over the war in Iran. Similar to Powell, Bowman said it’s too soon to know how the conflict in the Middle East will affect the U.S. economy.

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“I think it’s too early to tell what the longer-term imprint will be on U.S. economic activity and how we should think about that in terms of our longer-term economic forecast and how we should think about that in terms of our FOMC meetings and any rate changes that we might make as a result of economic evolution going forward.”

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Nearly 90,000 bottles of children’s ibuprofen have been recalled over the potential presence of a foreign substance, according to the Food and Drug Administration.

Strides Pharma, Inc., headquartered in India, recalled about 89,592 bottles of its 100-milligram Children’s Ibuprofen Oral Suspension, the FDA said. The affected product was manufactured for Taro Pharmaceuticals USA and distributed across the U.S.

The ibuprofen was sold in 4-fluid-ounce bottles at 100 milligrams per 5 milliliters.

HERBAL SUPPLEMENT FOUND TO CONTAIN HIDDEN VIAGRA INGEDIENT, FDA URGES CONSUMERS TO STOP USE

The packages included the lot numbers 7261973A and 7261974A, with an expiration date of Jan. 31, 2027.

The recall was first issued earlier this month after complaints of a gel-like mass and black particles in the product.

GM RECALLS 17K VEHICLES OVER REAR TOE LINK FRACTURE THAT COULD LEAD TO CRASHES

But the FDA updated the classification this week to a Class II recall, which means “use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.”

The Class II classification is the FDA’s second-highest urgency level.

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Consumers who purchased the recalled ibuprofen are urged to stop using it immediately.

Parents with concerns after their child has consumed the product should consult a healthcare provider.

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A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications.

The One Big Beautiful Bill Act (OBBBA), which was passed through Congress by Republicans using the reconciliation process and signed into law last year by President Donald Trump, included a provision allowing interest on car loans to be deducted under certain circumstances. 

The IRS released guidance on the implementation of the “No Tax on Car Loan Interest” provision of the OBBBA, which applies to loans taken out to purchase new personal vehicles — not business or commercial vehicles — that were made in America after Dec. 31, 2024. Lease payments do not qualify.

Taxpayers whose auto loans qualify for the interest deduction may deduct up to $10,000 per year, and the deduction is available for both taxpayers who itemize their deductions and those who claim the standard deduction on their return.

TREASURY IMPLEMENTING TRUMP’S CAR LOAN INTEREST TAX BREAK: ‘PUTTING MONEY BACK IN THE POCKETS’

The deduction is subject to income requirements and phases out for higher-income taxpayers who have a modified adjusted gross income of over $100,000 for single filers or $200,000 for joint filers.

Like other tax deductions, the auto loan interest deduction reduces the taxpayer’s taxable income by the amount of interest payments they claimed up to the $10,000 annual limit, which means the actual tax savings will be smaller than the nominal size of the tax deduction.

TRUMP TOUTS POTENTIAL 20% TAX REFUNDS FROM ‘BIG BEAUTIFUL BILL’

Under the OBBBA, the auto loan interest deduction is only applicable to vehicles that underwent final assembly in the U.S. 

To confirm that a vehicle’s final assembly was in the U.S., taxpayers are instructed to check one of the following: the vehicle label at the dealership, the vehicle identification number (VIN) or the National Highway Traffic Safety Administration’s VIN Decoder, which can verify the vehicle’s final assembly location.

Taxpayers must include the vehicle’s VIN on their tax returns for each year they claim the deduction.

CAR DEALERS WARNED BY FTC ABOUT DECEPTIVE PRICING PRACTICES, HIDDEN FEES

If a qualifying auto loan is later refinanced, the interest paid on the refinanced loan would generally be eligible for the deduction.

The deduction applies retroactively to the 2025 tax year, meaning it may be used for eligible auto loan interest payments incurred after Dec. 31, 2024.

The OBBBA included a number of temporary tax provisions that will sunset after several years to help the bill comply with Congress’ reconciliation rules.

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The auto loan interest deduction was one of those temporary provisions, and it’s scheduled to remain in effect through the end of 2028, when it will sunset unless Congress acts to extend the policy.

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Iranian strikes have cut about 17% of Doha’s liquefied natural gas (LNG) export capacity, QatarEnergy’s CEO told Reuters in an interview on Thursday.

Saad al-Kaabi said the disruption could result in an estimated $20 billion in lost annual revenue and threaten supplies to Europe and Asia.

The CEO of the state-owned energy company, who is also Qatar’s minister of state for energy affairs, told Reuters that damage to two LNG trains and one of its two gas-to-liquids facilities will sideline roughly 12.8 million tons per year of output for three to five years.

“I never in my wildest dreams would have thought that Qatar would be — Qatar and the region — in such an attack, especially from a brotherly Muslim country in the month of Ramadan, attacking us in this way,” said al-Kaabi.

IRAN HOLDS WORLD ENERGY HOSTAGE WITH ‘NIGHTMARE’ STRAIT OF HORMUZ SEA MINES, FORMER CENTCOM OFFICIAL WARNS

The attacks came after Iran targeted Gulf energy infrastructure in retaliation for an Israeli strike on its South Pars gas field on Wednesday.

QatarEnergy said in several posts on X that missile and rocket attacks on its facilities at Ras Laffan Industrial City caused fires and extensive damage but no casualties.

Qatar is one of the world’s largest LNG exporters, accounting for nearly 20% of global supply, according to the U.S. Energy Information Administration.

IRAN WARNS EUROPEAN COUNTRIES WILL BE ‘LEGITIMATE TARGETS’ IF THEY JOIN CONFLICT

President Donald Trump said on his Truth Social platform that Israel would halt further strikes on Iran’s South Pars gas field unless Tehran escalates, warning that the United States could respond with overwhelming force if Qatar’s LNG facilities are targeted again.

“The United States of America, with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field at an amount of strength and power that Iran has never seen or witnessed before,” Trump wrote. “I do not want to authorize this level of violence and destruction because of the long term implications that it will have on the future of Iran, but if Qatar’s LNG is again attacked, I will not hesitate to do so.”

Al-Kaabi told Reuters QatarEnergy declared force majeure on its entire LNG output following the attacks on Ras Laffan, allowing it to suspend deliveries due to the damage.

“For production to restart, first we need hostilities to cease,” he said.

He also explained that the state-owned company will have to declare force majeure on long-term contracts for up to five years covering supplies to Italy, Belgium, South Korea and China due to damage to the two LNG trains.

“If Israel attacked Iran, it’s between Iran and Israel. It has nothing to do with us and the region,” al-Kaabi told Reuters. “And so now, in addition to that, I’m saying that everybody in the world, whether it’s Israel, whether it’s the U.S., whether it’s any other country, everybody should stay away from oil and gas facilities.”

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Mortgage rates jumped this week to the highest level in nearly four months, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.22% from last week’s reading of 6.11%. 

The average rate on a 30-year loan was 6.67% a year ago.

“The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year,” said Sam Khater, Freddie Mac’s chief economist. “Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales.”

MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST HOUSING MARKET FOR BUBBLE RISK

The average rate on a 15-year fixed mortgage rose to 5.54% from last week’s reading of 5.5%.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics.

“Rising energy prices and renewed trade uncertainty have lifted inflation expectations, putting upward pressure on longer-term interest rates and, in turn, mortgage rates,” said Realtor.com senior economist Anthony Smith. “This comes despite softer recent economic data, including moderating inflation at 2.4% and weaker February job growth, which would typically support lower borrowing costs.”

Fed policymakers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75% on Wednesday. The move follows the central bank’s decision to hold rates steady in January after three successive 25-basis-point rate cuts in September, October and December to close out last year.

HOMEBUYERS REFUSE TO BACK DOWN AS MORTGAGE RATES CONTINUE HOVERING STUBBORNLY NEAR 6% MARK

Economic data showing a slowdown in the labor market, inflation continuing to run hotter than the Fed’s 2% target and the unrest in Iran prompted policymakers to continue to pause rate cuts.

Fed Chairman Jerome Powell said the current 3.5% to 3.75% range for the benchmark federal funds rate is within a range of neutral. He added that it’s too soon to tell what the effect of the conflict in the Middle East will be on the economy, adding that policymakers will continue to monitor economic data as they consider adjusting monetary policy. 

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Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.27% as of Thursday afternoon.

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Treasury Secretary Scott Bessent said the U.S. government will not intervene in oil futures markets even as the administration moves to offset supply disruptions tied to the Iran conflict, arguing that Washington’s response will focus on boosting physical crude availability instead.

“We’re absolutely not doing that,” Bessent told FOX Business’ “Mornings With Maria” on Thursday, when asked about possible Treasury intervention in the futures market. “We’re not intervening in the financial markets. We are supplying the physical markets.”

In an interview with Maria Bartiromo, Bessent said the administration has prepared a coordinated supply response designed to cushion the impact of any temporary disruption around the Strait of Hormuz. He said the U.S. had already moved to “unsanction” Russian oil cargoes already on the water, estimated at about 130 million barrels, and could do the same with roughly 140 million barrels of Iranian oil in floating storage.

“In essence, by the time we unsanctioned the floating Iranian oil, we would have intervened and we would have created about 260 million excess barrels of energy,” Bessent said, calling that a “physical intervention” rather than a financial one.

TANKERS TO RESUME NORMAL MOVEMENT IN MIDDLE EAST IN ‘A FEW WEEKS’ AT WORST, ENERGY SEC SAYS, ENDING OIL SURGE

Bessent said that volume could help cover what he described as a temporary deficit of 10 million to 14 million barrels per day if shipping through the strait is interrupted, providing roughly three weeks of market stabilization. He also pointed to a 400 million-barrel coordinated Strategic Petroleum Reserve release approved last week and said the U.S. could act again unilaterally if needed.

TRUMP WAIVES JONES ACT FOR 60 DAYS IN BID TO FREE UP THE FLOW OF OIL TO US PORTS

“The largest coordinated SPR release in history, 400 million barrels, was approved last week,” he said. “The U.S. could unilaterally do another SPR release to keep the price down.”

Bessent framed the strategy as part of a broader effort to balance pressure on Iran with energy market stability. He said the U.S. has avoided striking Iranian energy infrastructure even while escalating military operations, arguing the goal is to preserve supply while keeping pressure on Tehran.

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“We have lots of levers,” Bessent said. “We’ve got plenty more that we can do.”

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Supplying the world more oil from Iran is going to ultimately bring down prices in America, according to Bessent, who noted the U.S. does not rely on Middle East oil but the chokepoint on oil through the Strait of Hormuz has indirectly strained supply and spooked crude futures markets.

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The IRS released its “Dirty Dozen” tax scams for the 2026 filing season to warn taxpayers, businesses and tax professionals about the tactics used to commit identity theft and other forms of fraud.

IRS CEO Frank Bisignano said in a statement released earlier this month on “Slam the Scam Day” that the list and other efforts to raise awareness provide “a great opportunity to remind everyone to remain vigilant and watch out for scams because thieves continuously adjust the pitches they use to take advantage of honest taxpayers.”

“For more than two decades, the IRS has used the Dirty Dozen list to flag emerging scams that taxpayers should watch out for,” he added.

HOW TO AVOID TAX SCAMS THIS FILING SEASON

This year’s edition of the IRS’ Dirty Dozen list of tax scams includes one notable change and the agency advises all taxpayers to “remain cautious year-round, as criminals will always be on the lookout for new ways to obtain money, personal identifiable information, and data.

Here’s a look at the 12 key scams the IRS is warning taxpayers to be aware of.

Scammers and fraudsters will send emails, direct messages and text purporting to be from the IRS that often use alarming language and QR codes directing taxpayers to fake IRS websites to “verify” accounts, enter personal information or claim refunds.

The IRS urges taxpayers not to click links or open attachments from unexpected messages and to report suspicious IRS-related emails, DMs, and texts. The agency reported over 600 social media impersonators during its fiscal year 2025. Clicking on such links may install malicious software, including ransomware, on a taxpayer’s personal device and could prevent access to files and personal information.

Phone scams are evolving with the use of artificial intelligence (AI), using computer-generated tactics and spoofed caller IDs to appear legitimate.

The IRS reminds taxpayers that it will generally contact them by mail first and the agency doesn’t leave urgent, threatening prerecorded messages, call to demand immediate payment, or threaten arrest.

Fraudsters frequently exploit tragedies and disasters by creating fake charities to collect donations as well as personal information. Taxpayers who give money or goods to a charity may be able to claim a deduction on their federal tax return if they itemize deductions, but charitable donations only count if they go to a qualified tax-exempt organization recognized by the IRS.

Viral posts about “tax hacks” can push taxpayers to file returns with false information or claim credits they don’t qualify for, which can lead to refund delays, audits, penalties, or worse.

IRS UNVEILS PROPOSED REGULATIONS FOR NEW TRUMP ACCOUNTS SAVINGS PROGRAM

The IRS continues to warn that social media-driven misinformation and disinformation remain a major driver of tax scams. It also reminds taxpayers who knowingly file fraudulent tax returns that they could potentially face significant civil and criminal penalties.

Criminals may attempt to use stolen personal information to gain unauthorized access to a taxpayers’ IRS online account, or may pose as helpers to collect sensitive information to gain access while an account is being set up.

Taxpayers should create their own account directly through the IRS website and shouldn’t rely on unsolicited third parties. The IRS offers official guidance to help taxpayers establish and protect their accounts.

The IRS has identified an increase in the abuse of Form 2439, which allows shareholders of certain investment funds or real estate trusts to claim a refundable credit for taxes paid on undistributed capital gains

Some of these schemes have involved claims tied to organizations that aren’t legitimate investment funds or real estate trusts, while the IRS has also seen fake claims that are falsely linked to real, well-known organizations.

Scammers may use misleading claims about a broad “self-employment tax credit” to encourage inaccurate filings and generate improper refunds. Many taxpayers don’t qualify for these credits and the IRS is closely reviewing claims coming in under this provision, so taxpayers filing such claims do so at their own risk.

HERE’S WHEN TAXPAYERS WILL GET THEIR REFUNDS

A ghost preparer prepares a tax return but refuses to sign it and/or refuses to include a Preparer Tax Identification Number. Such a refusal is a major red flag as it leaves the taxpayer legally responsible for what is filed, and the IRS urges taxpayers to avoid preparers who won’t sign the return and to seek reputable help.

Some schemes involve inflated appraisals of donated property using art or syndicated conservation easements, with promoters often promising to eliminate or substantially reduce tax liability. The IRS warns taxpayers not to file returns with made-up information, and it may hold refunds while verifying claims.

Scammers are encouraging taxpayers to inflate their withholding amounts (sometimes known as “other withholding”) to manufacture a larger refund by reporting zero or little income on incorrect forms. 

There are multiple variations of the scheme using a range of different tax forms, and the IRS warns that it may delay processing returns while verifying wages and withholding, as inaccurate claims can lead to penalties and enforcement action.

AMERICANS SEE BIGGER TAX REFUNDS SO FAR THIS YEAR AS FILING SEASON BEGINS AT A SLOWER PACE

Tax professionals and businesses are targets of “new client” and “document request” emails that deliver malicious links or attachments to gain access to systems and potentially steal client data. 

Businesses and individuals, including tax pros, should always be cautious and on the lookout for suspicious requests or unusual behavior before sharing sensitive information or responding to an email.

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The IRS’ Offer in Compromise program can help eligible taxpayers resolve tax debt when they’re unable to pay in full, but so-called “OIC mills” often overpromise results and charge high fees to taxpayers who don’t qualify. 

The IRS tells taxpayers they should check their eligibility for the program using the agency’s free tools to avoid high-pressure sales tactics.

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The Federal Reserve on Wednesday left interest rates unchanged amid mounting uncertainty over how the Iran war will impact the economy and in turn the central bank’s approach to monetary policy, raising questions over whether any rate cuts will occur this year.

The Fed’s monetary policy panel, known as the Federal Open Market Committee (FOMC), voted 11-1 to leave the benchmark federal funds rate unchanged at a range of 3.5% to 3.75%. It marked the second straight meeting with rates being held steady after three successive 25-basis-point cuts in September, October and December to end last year.

Policymakers released a summary of economic projections (SEP), which showed that the median projection for interest rates sees just one 25 basis point cut the rest of this year followed by a single cut of that size in 2027.  

“In our SEP, FOMC participants wrote down their individual assessments of an appropriate path for the federal funds rate under what each participant judges to be the most likely scenario for the economy,” Federal Reserve Chair Jerome Powell said. “The median participant projects that the appropriate level of the federal funds rate will be 3.4% at the end of this year and 3.1% at the end of next year, unchanged from December.”

FEDERAL RESERVE HOLDS INTEREST RATES STEADY

“As is always the case, these individual forecasts are subject to uncertainty and they are not a committee plan or decision,” Powell added.

During the post-announcement press conference, Powell was asked what officials are seeing that led them to project a cut despite higher forecasts for both inflation and unchanged projections for the unemployment rate and economic growth. 

The SEP showed policymakers projected that the personal consumption expenditures (PCE) index – the Fed’s preferred inflation gauge – will be 2.7% at the end of this year, well above the central bank’s 2% target. That’s up from 2.4% in the Fed’s prior projection in December.

Core PCE, which excludes volatile measurements of food and energy, was also revised up to 2.7% at the end of this year. The previous projection had it at 2.5%.

FED’S FAVORED INFLATION GAUGE REMAINED STUBBORNLY HIGH IN JANUARY AS CONSUMER PRICE PRESSURES PERSIST

“There are 19 people, and so 19 reasons, 19 individual submissions,” Powell said. “If you notice, the median didn’t change, but there was actually a meaningful amount of movement toward fewer cuts by people, so four or five people went from two cuts to one cut.”

“Essentially, the forecast is that we will be making some progress on inflation, not as much as we had hoped, but some progress on inflation,” Powell said. “It should come as we start to see in the middle of the year progress on tariffs going through once and then tariff inflation coming down. We should be seeing that.”

“And you know, the rate forecast is conditional on the performance of the economy, so if we don’t see that progress, then you won’t see the rate cut,” he explained.

FED OFFICIALS CLOSELY MONITOR IRAN CONFLICT FOR POTENTIAL INFLATION IMPACT

The market responded to the Fed’s projection by pulling back expectations surrounding interest rate cuts this year, which were previously expected to begin as early as June.

The CME FedWatch tool showed an 89.2% probability that rates will remain at their current level following the Fed’s June meeting in the wake of today’s announcement. That’s up from 79.5% yesterday, 62.8% a week ago and 37.8% last month – while the tool also now shows a 3.8% chance of a 25 basis point hike in June, up from zero a month ago.

The market now sees it being more likely than not that the Fed will leave rates unchanged through the end of this year. 

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The CME FedWatch tool shows a 51.3% chance of rates being at their current range after the Fed’s December meeting – up from 23.5% a week ago and 4.9% last month. 

Probabilities for December show a 35.7% chance of one 25 basis point reduction by then, while the odds of a second cut between now and then have fallen to 9.5% from 32.5% a month ago.

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The U.S. national debt reached another historic milestone on Wednesday as it surpassed $39 trillion for the first time as the federal government’s persistent budget deficits send the debt soaring higher.

New data from the Treasury Department released on Wednesday showed that the gross national debt reached $39,016,762,910,245.14 as of March 17.

The $39 trillion milestone comes about five months after the national debt reached $38 trillion for the first time in late October 2025, which closely followed the $37 trillion milestone being surpassed just two months earlier in mid-August.

America’s debt has grown rapidly over the last decade as the population ages and federal spending on Social Security and Medicare rises. Another key driver of the surging debt is interest expenses incurred from servicing the debt, which have swelled due to higher interest rates meant to curb inflation as well as the growth in the debt itself.

US DEBT SET TO CRUSH WORLD WAR II RECORD AS ANNUAL DEFICITS EXPLODE TO $3T WITHIN DECADE

Michael A. Peterson, CEO of the nonpartisan Peter G. Peterson Foundation, told FOX Business that the latest national debt milestone is an opportunity for Americans to “recognize this alarming rate of growth and the significant financial burden we are putting on the next generation.”

“At the current growth rate, we will hit a staggering $40 trillion in national debt before this fall’s elections. Borrowing trillion after trillion at this rapid pace with no plan in place is the definition of unsustainable,” he explained.

Peterson noted that interest payments on the debt – the cost of servicing the debt the federal government has incurred – are the fastest growing line item in the federal budget and that interest costs are projected to total nearly $100 trillion over the next 30 years. 

BUDGET DEFICIT HITS $1 TRILLION IN FIRST FIVE MONTHS OF FISCAL YEAR: CBO

He went on to say that with voters concerned about affordability, the debt’s cost and economic impact on Americans’ livelihoods should serve as cause for the issue to be a focal point of the debate surrounding this year’s elections.

“America faces complex and critical challenges, both at home and abroad, and putting our debt on a sustainable path will support a stronger, more secure future. The good news is that there are many solutions available, and they all should be put on the table for discussion this campaign season,” Peterson added.

The fiscal headwinds facing the federal government are expected to continue in the years ahead, as spending on programs like Social Security and Medicare rise along with debt service costs and cause projected budget deficits to widen.

WHAT ARE THE BIGGEST BUDGET DEFICITS IN US HISTORY?

The nonpartisan Congressional Budget Office (CBO) released a 10-year budget and economic forecasts which estimated annual budget deficits will rise from their current level of about $1.9 trillion to $3.1 trillion a year a decade from now. That will push the gross national debt from its current level around $39 trillion to $63 trillion in 2036. 

Debt held by the public as a share of gross domestic product (GDP), a measure economists prefer to use in comparing a nation’s debt to the size of its economy, will rise from about 100% this year to 108% of GDP in 2030 and further to 120% in 2036. 

Those figures will break the record of 106% set in 1946 as the U.S. was in the process of demobilization after the end of World War II.

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A recent update from the CBO found that the federal government’s budget deficit for the current fiscal year 2026 topped $1 trillion in the first five months of the fiscal year despite an influx of tax revenue from tariffs, some of which were struck down by the Supreme Court as being illegal.

Some of those tariff revenues may be subject to refunds to the businesses and consumers who paid them, which could widen this year’s deficit if the revenue isn’t replaced.

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This is a developing story about the Federal Reserve’s March interest rate cut decision. Please check back for updates.

The Federal Reserve on Wednesday announced it will leave interest rates unchanged, amid a softening labor market and growing uncertainty over the war in Iran.

Fed policymakers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the central bank’s decision to hold rates steady in January after three successive 25-basis-point rate cuts in September, October and December to close out last year.

Economic data showing a slowdown in the labor market, inflation continuing to run hotter than the Fed’s 2% target and the unrest in Iran prompted policymakers to continue to pause rate cuts.

The Federal Open Market Committee (FOMC) voted 11-1 in favor of leaving rates unchanged, with the lone dissent by Fed Governor Stephen Miran, who was in favor of a 25 basis point cut.

The FOMC’s statement noted that economic indicators suggest the economy is expanding at a solid pace, with low levels of job gains and somewhat elevated inflation.

It also noted that uncertainty surrounding the economic outlook “remains elevated” and that the “implications of developments in the Middle East for the U.S. economy are uncertain.” 

Federal Reserve Jerome Powell will hold a press conference to discuss the decision.

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Dell’s workforce has fallen by 10% for a third year in a row, according to annual reports filed Monday. 

As of Jan. 30, the Texas-based tech giant reported a headcount of 97,000 employees, down roughly 11,000 from its previous year of 108,000. 

The reductions were primarily driven by cost-cutting measures, including employee reorganizations, restricted external hiring and facility consolidation to better align investments.

“Throughout Fiscal 2026, we remained committed to disciplined cost management in coordination with our ongoing business modernization initiatives and continued to take certain measures to reduce costs,” the company said. 

ORACLE EXPECTED TO SLASH THOUSANDS OF JOBS AS MASSIVE AI SPENDING CREATES FINANCIAL CASH CRISIS

Over the years, Dell has implemented numerous cost-cutting measures, including employee reorganizations, restrictions on external hiring and other steps to better align its investments with strategic and customer priorities.

In its most recent reports, Dell highlighted the extensive integration of AI and machine learning technologies across its operations, including IT management, software solutions and the use of specialized servers.

Dell, whose shares have risen roughly 20% so far this year, said in February the company expects revenue from its AI-optimized server orders to double by 2027.

META EYES MASSIVE 20% WORKFORCE CUT AS AI INFRASTRUCTURE COSTS CONTINUE TO SOAR ACROSS OPERATIONS: REPORT

According to its fiscal 2026 report, Dell recorded total severance charges of $569 million, compared with $693 million in 2025 and $648 million in 2024. These payments primarily affected the selling, general and administrative departments, followed by cost of net revenue and research and development each year.

While Dell reported a staff count of 97,000 in 2026, the company had 133,000 employees in 2023. 

In 2023, Dell announced a workforce reduction of roughly 5% to navigate a challenging global economic environment.

The following year, Dell’s headcount fell by 13,000, a 9.8% decrease in its workforce.

In 2025, Dell again recorded a 10% reduction in staff, representing 12,000 fewer employees. 

Most recently, the company reported a 10.2% decline in 2026.

META CUTS OVER 1,000 JOBS IN MAJOR METAVERSE RETREAT

Silicon Valley workers have grown increasingly concerned about AI-driven disruption as tech companies such as Meta and Oracle have reportedly planned mass layoffs.

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Earlier this month, Meta reportedly considered a massive 20% workforce reduction as AI infrastructure spending continues to rise. Oracle has also reportedly weighed cutting tens of thousands of jobs amid soaring AI spending and mounting financial pressures.

Reuters has also linked workforce decline to the demands of competing in the high-growth AI infrastructure sector, pressuring companies to offset expenses.

Reuters contributed to this report.

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Federal Reserve policymakers.Although there is still uncertainty over the impact of the war on the U. Ș. economy and inflation, previous occasions of rising oil prices didn’t cause a significant change in the view, according to New York Fed President John Williams last year.Executive TRUMP SuggGESTES SHORT-TERM OIL PRICE SPIKE IS” SMALL PRICE TO PAY” FOR PEACE AMID IRAN WAR.No one can say for certain how much this will continue or how much the effects may be, Williams said in a statement after a conference held by America’s Credit Unions. ” Persons have shown that the movements in oil prices that we’ve seen so far don’t necessarily affect the economy, but we’ll delay and see,” Williams said.He noted that the conflict with Iran is “one of those improvements that can hit both of our mandated goals in a kind of opposite approach in the short term &ndash, &nbsp, increase inflation, and possibly slow global growth,” but that the transmission through financial markets had been “reasonably muffled. “Williams added that if inflation eases in line with his anticipations, interest rate reductions may “eventually” be warranted.GAS PRICES SURGE AS IRAN CONFLICT ATTACKLES GLOBAL OIL MARKETS, PUSHING US CRUDE ABOVE$ 90At an event hosted by Bloomberg last month, Minneapolis Fed President Neel Kashkari said,” It’s just too soon to know what impact this has on prices and how long. “Additionally, Kashkari told <a href="https://www.bloomberg.com

ews/articles/2026-03-03/fed-s-williams-says-more-rate-cuts-hinge-on-inflation-progress” target=”_blank” rel=”nofollow noopener”>Bloomberg that he now feels less confident about his original prediction for a rate cut this year, saying that” we need to get a lot more information in with the political activities. “

In a statement that was delivered on Friday, Boston Fed President Susan Collins stated in the text that” I do not see an urgency for additional coverage adjustments” and that she intends to take a “patient, deliberate view as appropriate” as she considers her view for inflation, jobs, and price reductions.

IRANIAN OIL PURCHASES, US WEIGHS ASKING CHINA TO CURB RUSSIAN, AND OTHER IRANIAN OIL PURCHASES

According to Collins, “my baseline shows a still-uncertain inflation picture with continued upside risks,” and this, in addition to recent evidence suggesting a relatively stable labor market, supports the continuation of policy rates at their current, moderately restrictive levels for some time.

Collins continued,” considerable economic uncertainty persists, exacerbated by recent geopolitical developments like the hostilities in the Middle East. “

Oȵ March 17 and 18tⱨ, the Feḑeral Opȩn Market Committee, the Fed’s moȵetary policy panel, wįll hold its next meeting to decide oȵ interest rate policy.

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The FOMC’s target range for interest rates to remain unchanged is 3. 5 % to 3. 3. 75 %, with the CME FedWatch tool showing a 97. 4 % cut in March.

Reuters provided information for this report.

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The ongoing conflict in the Middle East has sent oil prices soaring and has prompted G7 leaders to consider the potential release of emergency oil reserves to provide relief to consumers facing higher gasoline prices.

Gas prices have risen in response to the rapid increase in oil prices, with the national average price of gas rising from $3 a gallon last week to $3.48 a gallon on Monday, according to AAA data. Oil futures have surged over 48% in the last month after trading in the range of $60-70 a barrel during February to over $95 on Monday, when futures prices were briefly above $115 before declining.

French finance minister Roland Lescure on Monday told reporters after a meeting of G7 finance ministers that leaders “are not there yet” on deciding whether to conduct an emergency release, as there aren’t current supply problems in the U.S. or Europe.

“What we’ve agreed upon is to use any necessary tools if need be to stabilize the market, including the potential release of necessary stockpiles,” Lescure added.

AMID IRAN WAR, PRESIDENT TRUMP SUGGESTS SHORT-TERM OIL PRICE SPIKE IS ‘SMALL PRICE TO PAY’ FOR PEACE

Western economies develop strategic oil reserves in response to the 1970s oil crisis, with stockpiles like the U.S. government’s Strategic Petroleum Reserve serving as a backstop to address disruptions in the energy market that would otherwise harm the economy or imperil national security.

Phil Flynn, senior market analyst at the Price Futures Group and FOX Business contributor, said that the “mere mention” of strategic releases was enough to pull oil prices down off of their highs, as such releases of reserves “would ease markets’ concerns of tightness of supply.”

“Historically, releases from the strategic reserve, especially in coordination with other countries, have always been successful in cooling down fear in the market place,” Flynn said. “The market has to be convinced that the transportation of that oil is going to be safe, because even if you release oil from the reserve, it’s still going to take time to get to its destination, such as the refineries.”

G7 FINANCE MINISTERS TO DISCUSS EMERGENCY OIL RESERVE RELEASE AMID PRICE SURGE: REPORT

Andy Lipow, president of Lipow Oil Associates, told FOX Business that he expects “countries in the G7 will be forced to release oil reserves to show their public that they are taking some action to mitigate the rapid rise in prices.”

He added that he anticipates the releases will occur within the next two weeks if the conflict hasn’t reached a resolution by that time.

“Whether or not the release will have an impact will depend on if the de facto blockade of the Strait of Hormuz continues to impact oil tanker loadings and if additional oil infrastructure is damaged.”

CRUDE OIL PRICES EXCEED $100 A BARREL AS WAR IN IRAN DISRUPTS PRODUCTION, SHIPPING

The Treasury Department in 2022 analyzed the impact of SPR releases carried out by the Biden-era Energy Department in response to oil disruptions caused by Russia’s invasion of Ukraine on gas prices. 

The U.S. released 180 million barrels from the SPR over six months in 2022, while International Energy Administration partners released an additional 60 million barrels.

It found that the U.S. SPR releases alone lowered gas prices by a range of $0.13 to $0.31 per gallon, whereas the oil reserve releases done by the U.S. in tandem with IEA partners had a larger effect by reducing prices $0.17 to $0.42 per gallon.

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The findings of Treasury’s analysis were similar to those from a 2017 study by Richard Newell and Brian Priest, who found that a U.S. only release would lower gas prices by $0.33 per gallon while releases by the U.S. and IEA partners would yield a larger reduction of $0.38 a gallon.

Reuters contributed to this report.

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The IRS and Treasury Department on Friday put forward new proposed rules and processes that cover the implementation of Trump Accounts for parents and guardians who want to use the savings accounts for their children.

Trump Accounts were created under the One Big Beautiful Bill Act that was enacted last year and is expected to open for contributions after July 4, 2026. Ahead of the official launch of the accounts – which may be opened for children born between Jan. 1, 2025, and Dec. 31, 2028, as well as those born before 2025 who are under the age of 18 – the IRS and Treasury Department have to finalize regulations for the accounts.

The newly proposed rules include processes for opening an initial Trump Account using Form 4547, which allows an authorized individual to make an election opening the initial Trump Account. The election to open a Trump Account must be made on or before Dec. 31 of the calendar year in which the eligible individual turns 17. 

Instructions for Form 4547 are currently available on the IRS website and the agency plans to allow individuals to file a one-page version of the form either at the same time they file their tax return or on a separate online portal.

HERE’S HOW MUCH TRUMP ACCOUNT BALANCES COULD GROW OVER TIME

The form also gives the individual the option of requesting the $1,000 contribution from the Treasury’s pilot program for an eligible child’s Trump Account. While children born between the start of 2025 and the end of 2028 are eligible for the federal contribution, those born before 2025 are ineligible for the seed money.

If an election for the $1,000 pilot program is made at the same time as the decision to open an initial Trump Account, the authorized individual is able to make the election for a contribution. 

If no election is made for the pilot program at the time the election to open a Trump Account is made, a different process would be used for determining an authorized individual. The proposed rule for priority ordering would be a legal guardian, parent, adult sibling and then the grandparent of the eligible individual.

HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’

Additionally, the proposed rules state that the individual who makes the election to open a Trump Account will be the responsible party who has authority to make investment choices among the options available while the account beneficiary is below the age of legal capacity. 

The responsible party may also request a qualified rollover contribution to a rollover Trump Account, request a transfer for a qualified ABLE rollover contribution under certain rules or select a successor responsible party for the account.

BANK OF AMERICA TO MATCH $1,000 GOVERNMENT DEPOSITS FOR TRUMP ACCOUNTS

“Trump Accounts are a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up this generation and generations to follow and unlock the American dream,” said IRS CEO Frank Bisignano. 

“Creating Trump Accounts was one of the most important provisions in President Trump’s historic One Big Beautiful Bill, and these regulations are an example of the hard work of Treasury and the IRS in developing the guidance needed to ensure that eligible families can take advantage of Trump Accounts,” Bisignano added.

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The U.S. reversed a five-year decline in the Heritage Foundation’s Index of Economic Freedom with its biggest annual increase in the index in over two decades, FOX Business can exclusively reveal.

America’s economic freedom score rose by 2.6 points from a year ago to 72.8, which ranks 22nd among the more than 176 countries that had completed scores in the index. The increase of 2.6 points was the largest annual increase since 2001 and is the second-largest jump the U.S. has had in its 32-year history in the index.

Heritage’s Index of Economic Freedom assesses 12 economic freedoms that fall into four categories including rule of law, government size, regulatory efficiency and open markets – each of which has three subcategories. 

“The U.S.’ score improvements in monetary freedom, government spending, fiscal health, and investment freedom have outpaced the relatively lower score in trade freedom, reflecting the net positive impact of major regulatory and tax reforms on economic growth, investment, and business confidence,” Heritage’s Anthony Kim, the Jay Kingham Research Fellow in International Economic Affairs, editor of the Index of Economic Freedom and manager of global engagement at the Margaret Thatcher Center for Freedom, told FOX Business.

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Kim explained that the progress “is not accidental” and is reflective of the Trump administration’s initiatives that have “cut government jobs, slowed spending, and prioritized private-sector growth through proactive, bold deregulatory and tax reforms.”

While the U.S. score of 72.8 came in at 22nd in the world rankings, it ranked 3rd in the Americas, trailing only Canada (75.6) and Chile (74.3), respectively. Mexico scored 59.8 and ranked 92nd in the world, and was in 19th place among the 32 countries in the Americas region.

In the rule of law category, the U.S. ranked highly with property rights, judicial effectiveness and government integrity all scoring well above the world average.

Government size was a relative weakness for the U.S., with a roughly average tax burden score of 75.3 compared to the global average of 78.4. Government spending scored 57.9 to the global average of 66.3, while fiscal health was a significant weak point – as the U.S. score of 18.5 was well below the global average of 65.9 due to high levels of public debt and large budget deficits.

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Aspects of regulatory efficiency assessed by the report included freedom for business, labor and monetary were all well above the Index’s global average.

In terms of open markets, the U.S. scored 67.6 in trade freedom, which was below the global average of 70.2. However, investment freedom and financial freedom each scored an 80 for the U.S., well above the global averages of 53.4 and 48.1, respectively.

Kim noted that the “impact of restrictive tariffs on the global economy has been far more muted than feared, in light of increased investment in such critical sectors as energy and AI (among many others),” adding that the lack of tariff retaliation by countries other than China, Canada and the EU mitigated the potential impact of a trade war.

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Countries with the highest overall scores in Heritage’s Index of Economic Freedom were Singapore (84.4), Switzerland (83.7%), Ireland (83.3), Australia (80.1) and Taiwan (79.8). 

The countries that scored the lowest were among the most repressed in the world, with North Korea (3.1) ranked last. Cuba (25.2), Venezuela (27.3), Sudan (32.5) and Zimbabwe (35.2) rounded out the bottom five countries in Heritage’s analysis.

Russia (50.3), China (48.3) and Iran (41.8) were also among the lowest scoring countries in the index due to their repressive political and economic systems.

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Argentina’s economic freedom rating saw the largest increase from a year ago of all countries in Heritage’s index, climbing by 3.2 points relative to last year.

“October 2025’s decisive midterm election victory provided reform-minded President Javier Milei with concrete support and greater momentum for continuing to transform Argentina’s economy,” Kim said. 

Kim noted that several other countries, including Oman, The Philippines, Morocco and Paraguay, have “recorded sizable score improvements in their past two years despite challenging economic environments.”

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He added that Paraguay’s President Santiago Peña has been “unambiguously promoting economic freedom, combating corruption, and building alliances with democratic nations.”

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Enterprise software giant Oracle is reportedly planning to ax thousands of jobs due to mounting financial pressure from its aggressive push to build AI-focused data centers.

The tech powerhouse may slash 20,000 to 30,000 positions, possibly cutting 12–18% of its global workforce of roughly 162,000 employees, tech magazine CIO reported.

The layoffs could be implemented as early as March 2026, Bloomberg reported.

The move is driven by a cash crunch from massive spending on data centers, which Wall Street expects will keep Oracle’s cash flow negative for years, forcing the company to seek alternative ways to preserve liquidity, Bloomberg said.  

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Additionally, several U.S. banks have scaled back financing for Oracle’s massive AI data center expansion, according to investment bank TD Cowen, cited by CIO.com. Lenders have reportedly voiced growing concerns over the company’s ability to repay debt given the enormous capital required to build infrastructure for high-profile AI clients such as OpenAI.

“Both equity and debt investors have raised questions regarding Oracle’s ability to finance this buildout,” the report said.

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The job cuts will span divisions across the company, focusing on roles Oracle expects to need less of due to AI, Bloomberg reported.

The move is also expected to free up $8 billion to $10 billion, TD Cowen said in a research report cited by CIO.

Led by Chairman Larry Ellison, Oracle is making a high-stakes, all-in bet on becoming a top-tier AI cloud provider to rival AWS, Microsoft and Salesforce.  

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The upcoming layoffs at Oracle are expected to be much larger and more extensive than the company’s usual smaller routine job cuts. 

Oracle reportedly told internal teams it would reassess many open positions in its cloud division while evaluating which roles are still necessary. However, planning for the workforce reductions is still ongoing and could change, Bloomberg reported.  

FOX Business reached out to Oracle for more information.  

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The Labor Department’s latest jobs report showed that American workers’ wage gains are continuing to outpace stubbornly high inflation.

The Bureau of Labor Statistics released its jobs report for February Friday, which showed that workers’ average hourly earnings rose faster than expected last month.

Employees on private nonfarm payrolls saw their average hourly earnings rise by 15 cents, or 0.4%, on a monthly basis to $37.32 an hour. That outpaced the expected increase of 0.3% that was projected by LSEG economists.

Average earnings rose 3.8% in February compared with a year ago, up from 3.7% in January. LSEG economists estimated that the annual increase in earnings would be unchanged at 3.7% in February.

US ECONOMY SHED 92K JOBS IN FEBRUARY, WELL BELOW EXPECTATIONS

The BLS data also showed that the average workweek was unchanged at 34.3 hours, in line with the estimate of LSEG economists and unchanged from January. Among workers in the manufacturing sector, the average workweek declined slightly by 0.1 hour to 40.1 hours, while overtime was unchanged at three hours.

The rising wages and relatively steady workweeks come as stubborn inflation has persisted above the Federal Reserve’s long-run target of 2%. The Fed’s preferred inflation gauge, the personal consumption expenditures (PCE) index, rose to 2.9% on an annual basis in December. Core PCE, which excludes volatile food and energy prices, was up 3% from a year ago in December.

A separate inflation gauge, the consumer price index (CPI), was up just 2.4% on a year-over-year basis in January and trended down after a 2.7% reading in December. Core CPI was up 2.5% from a year ago in January.

Inflation creates severe financial pressures for households, particularly those with lower incomes that are forced to pay relatively more for essentials.

FED’S FAVORED INFLATION GAUGE SHOWED CONSUMER PRICE GROWTH REMAINED ELEVATED IN DECEMBER

Wage gains rising faster than inflation helps protect earners’ purchasing power by reducing the amount that’s eroded by inflation-induced price hikes, though that dynamic is limited by elevated inflation. 

They can also signal competition among employers for qualified workers. The unemployment rate was little changed in February, rising from 4.3% to 4.4% from the prior month.

“Jobs in the private sector, along with ongoing reductions in federal government staffing, led to lower payroll employment in February. But the unemployment rate remains low because of the southern border shutdown. That is why wage growth remains healthy with a 3.8% rise,” said Lawrence Yun, chief economist at the National Association of Realtors.

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Andy Bregenzer, head of U.S. regional and small business banking and co-head of commercial bank at TD, said it was “disappointing to see January’s hiring momentum come into question with February’s slowdown” and emphasized that small businesses need to stay disciplined in this economic environment.

“What we continue to hear from small business owners is that while hiring pressure may ease modestly if jobs growth slows, wages and competition for skilled workers remain elevated. This is the environment where small business owners need to stay disciplined and balance growth plans with careful cost management.”

Gregory Daco, chief economist at EY-Parthenon, noted that wage dynamics were “firmer than expected” and said the 3.8% annual wage growth underscored that “labor cost pressures remain sticky even as job growth falters.”

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He cautioned that “forward-looking indicators point to continued moderation in wage growth going forward, with the private sector quits rate remaining near its lowest level since early 2016 outside of a recession, and business surveys continue to signal restraint in compensation plans.”

Daco said that given the expectation of subdued labor demand, his firm’s outlook sees wage growth easing toward 3.5% in the second half of 2026.

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about the unknown dismissal: AI is secretly preventing Americans from entering the workforce.

The 92, 000 jobs lost in February’s jobs record, but according to RedBalloon CEO Andrew Crapuchettes, the actual monetary rot is more in the technology than the numbers, which is revealed in the jobs report.

Crapuchettes warns that an unseen layoff is occurring as artificial intelligence systems effectively remove qualified American personnel from the claimant pool, leading to a significant disconnect, which he claims is causing the 4. 4 % unemployment rate and short-term economic “pain”

Crapuchettes told Fox News Digital,” AI is causing a lot of disturbance in the employment market right now. ” Employers are using AI successfully, and ƫhis results įn αn iȵcrease in worker productivity. Part of what AI is doing is what is driving a lot of employee productivity. Businesses don’t need to usȩ as fast, or theყ’re letting people ḑown. And that will only cause a major change in the marketplace. “

It’s also a very unsatisfactory number nevertheless. We’d like to see work reporting constant growth, he added. However, tⱨere are a lot of diverse factoɾs contributing ƫo this. We’re not just seeing the title, though.

Big Digital Businesses BACK TRUMP PLEDGE TO PAY MORE FOR DATA CENTER ELECTRICITY AVAILABLE AFTER SIGNING

According tσ α report releαsed by the Labor Department on Ƒriday, 92, 000 jobs were lost by comρanies in February. That figure was far below what economists polled by LSEG had predicted, who predicted that the economy may create 59, 000 new jobs. The unemployment rate was 4. 4 %, slightly higher than economists had anticipated, which was 4. 3 %.

According to reach activity, there were also significant contractions in federal payrolls, manufacturing, info, construction, transportation, and warehousing, as well as in health care employment.

” Job seekers are applying to even 100 work a moment with their resume and cover letter looking exactly like,” Crapuchettes explained. ” And guess what, I ask? ” AI prefers AI-written begins more. The issue is that AI-written resumes are placed at the top of the stack, and then they interview those candidates, who later discover that great resumes and best employees are not synonymous.

AI excels at producing dull work, but to really possessing insight about a particular person must be distinctly human, he continued. The majority of HR technology today is turning to AI for everyone, which is causing this kind of crazy disruption. So it becomes increasingly difficult for people ƫo ƒind employment because, įn essence, you’re taking a ρretty complicated hμman being and writing it down on a piece σf paper, the “resμme,” aȵd ĄI įs making decisions basȩd on that.

Crapuchettes acknowledges that AI, yet at RedBalloon, has allowed his staff to make three times as much work without adding a single person. This micro-examination of the economic transition is provided by Crapuchettes.

” I fundamentally tripled my executive office without adding any more staff members because of how we’re using AI successfully. ” And that’s a good thing, he said, but in the long run, those are” a bunch of professionals that did not get hired at RedBalloon because we’re using AI effectively. “

Moreover, according to BLS information, the federal government’s employment rate is down 330, 000 work, or 11 %, from its peak in October 2024. Rapuchettes interprets this as a “handcuff” bȩing taken froɱ the private seçtor, which he claimȿ has previouslყ struggled tσ compete with government benefits.

The CEO noted that” I know that I talked to businesses over the past few years and they felt like they were often competing with the federal and state governments for talent. “

He retorted,” You lose all those federal jobs in the short run. ” They lose that money, but as they enter the exclusive market,” I believe that will lead to significant economic growth for America. “

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His best counsel to American workers in a tightening job market is to” be AI-enabled,” arguing that actually truck drivers and construction workers must choose AI to maintain their unbreakable skills.

” I detest jumping up on the AI trend, but the reality is that AI-enabled workers are the most frequently requested task across all positions and industries at RedBalloon at the moment. Theɾefore, employers are looking ƒor individuals ωho aren’t scαred to experiment with AI ƫo improve their work effectiveness anḑ efficiency. And clearly that seems strange and strange. However, ƫhe truth is that technology įs boosting productivity iȵ those areas.

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Eric Revell of FOX Business contributed to this statement.

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The U.S. economy shed jobs unexpectedly in February as employers pulled back to start 2026 amid economic uncertainty.

The Labor Department on Wednesday reported that employers shed 92,000 jobs in February. That figure was well below the expectations of economists polled by LSEG, who estimated the economy would add 59,000 jobs.

The unemployment rate was 4.4%, slightly higher than economists’ expectations of 4.3%.

Revisions were made to the payroll numbers for the prior two months, with December’s report revised down by 65,000 jobs from a gain of 48,000 to a loss of 17,000, and January’s report revised down by 4,000 from a gain of 130,000 to 126,000.

Taken together, employment in December and January was 69,000 jobs lower than previously reported.

Private payrolls shed 86,000 jobs in February when economists expected a gain of 65,000 jobs for the month. January’s gain of 172,000 jobs was also revised down to 146,000.

Government payrolls contracted by 6,000 jobs in February. Job losses by the federal government (-10,000) and local governments (-1,000) were partially offset by job gains among state governments (+5,000). Federal government employment is down 330,000 jobs, or 11%, from its October 2024 peak.

The manufacturing sector lost 12,000 jobs in February, well below the expectations of LSEG economists, who predicted a gain of 3,000 jobs.

Healthcare employment declined by 28,000 jobs in February following an increase of 77,000 jobs for the sector in January. Physicians’ offices lost 37,400 jobs in February, primarily due to strike activity, while hospitals added 11,600 jobs. Over the last 12 months, healthcare averaged a gain of 36,000 jobs per month.

FED’S FAVORED INFLATION GAUGE SHOWED CONSUMER PRICE GROWTH REMAINED ELEVATED IN DECEMBER

The information sector lost 11,000 jobs in February, continuing a downward trend after averaging a loss of 5,000 jobs in the last 12 months.

The construction sector lost 11,000 jobs in February after posting a gain of 48,000 jobs in January.

Social assistance employers added 9,400 jobs in February, driven by individual and family services (+12,400).

Transportation and warehousing employment declined by 11,300 jobs. A loss among couriers and messengers (-16,600) was partially offset by a gain in air transportation (+5,100). Employment in the sector is down 157,000 jobs, or 2.4%, from a February 2025 peak.

US ECONOMY GREW SLOWER THAN EXPECTED IN FOURTH QUARTER

The number of long-term unemployed, defined as those who have been jobless for 27 weeks or more, was little changed at 1.9 million in February but is up from 1.5 million a year ago. The long-term unemployed accounted for 25.3% of all unemployed people in February.

The number of people who were employed part-time for economic reasons decreased by 477,000 to 4.4 million in February. These individuals would have preferred full-time employment but were working part-time because their hours were reduced or they were unable to find full-time jobs.

“There are a handful of things that may have distorted February’s data. Winter storms may explain the weakness in construction, for example, and nursing strikes might have dragged on healthcare,” said Elyse Ausenbaugh, head of investment strategy at JPMorgan Wealth Management. 

“Still, the pace of job gains over the last few months is still dramatically slower than it was in 2024 and much of 2025. This is going to make it harder for the Fed to sell the labor market stabilization narrative that’s been used to justify patience on further rate cuts. Add higher oil prices given conflict in the Middle East and renewed tariff uncertainty to the convoluted jobs market story, and you have a tricky, stagflationary mix of risks in the backdrop for the Fed,” Ausenbaugh added.

FED DISSENT GROWS AS SOME OFFICIALS WEIGH RETURN TO INTEREST RATE HIKES AMID STUBBORN INFLATION

Jeffrey Roach, chief economist at LPL Financial, said, “After lackluster job gains in 2025, the labor market is coming to a standstill. The three-month average is 6,000 and the six-month average is negative for the fourth time in five months.” 

“Looking ahead, we should expect the unemployment rate to rise. I don’t expect the Fed to act sooner than June, but if the labor market deteriorates faster than expected, officials could cut rates on April 29,” Roach added.

The latest jobs data did little to shift the market’s expectation that the Federal Reserve will leave interest rates unchanged when policymakers meet on March 17-18.

The CME FedWatch tool shows a 95.5% probability that the Fed will leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. 

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Markets opened lower on Friday and declined further in response to the February jobs report data before paring some of those losses as the trading session progressed later into the morning.

After paring deeper losses, the Dow Jones Industrial Average was down 1.27%, while the S&P 500 was down 1.1% and the Nasdaq Composite down 0.92%.

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Target announced on Thursday it will open its 2,000th store this month in North Carolina as part of an expansion that will include dozens more stores opening this year.

The milestone 2,000th location will open in Fuquay-Varina, North Carolina, on March 15. It will be Target’s 55th store in North Carolina. The new 148,000-square-foot store, located near Raleigh, will include a CVS Pharmacy, Starbucks Cafe and Disney Shop inside.

The company said this location “represents the future of Target’s elevated guest experience with its open, easily navigable layout, convenient same-day services and winning team delivering a more relaxed and enjoyable shopping visit.”

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Target also plans to open 30 new stores this year and 300 by 2035 in what the company described as a new chapter in its strategy to drive long-term, sustainable growth by investing in stores.

In addition to the new store in North Carolina, other new Target stores are set to open this month in Bakersfield and Delano, California; Springfield, Missouri; Jersey City and West Orange, New Jersey; and Dallas, Texas.

“Guests tell us all the time they want a Target closer to home, and this investment helps us do exactly that,” Adrienne Costanzo, chief stores officer at Target said in a press release. “That means even more neighborhoods will get the full Target experience: trend-forward style and value, technology that makes the trip effortless and awesome teams who deliver easy, inspiring and friendly moments every single day.”

The company said there is a Target store within 10 miles of most doorsteps across the U.S.

Target has listed more than 40 additional communities across 25 states that will eventually have a new store open. Based on the future store openings Target has already confirmed, the states that will have the most new stores are Florida, North Carolina and Texas.

It also said there would be more than 130 remodels on top of the store openings. Next-day delivery will also launch in more than 20 new metro areas, which the company said reaches 60% of the U.S. population.

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The retailer said it is “making a commitment to the neighborhoods it calls home.”

“Every time we open a new Target store, we’re planting roots in that community,” Costanzo said. “That means in addition to delivering a better shopping experience that’s faster and more reliable, we’re creating growth and opportunity — through good jobs, support for local nonprofits and long-term economic investment in the neighborhoods we serve. When our teams and communities thrive, so do we.”

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A record number of Americans tapped into their 401(k) retirement savings for hardship withdrawals last year due to financial challenges, new data shows.

Vanguard Group reported that 6% of participants in 401(k) plans administered by the firm took hardship withdrawals in 2025, up from 4.8% in 2024.

That figure is also well above the prepandemic average of about 2% of 401(k) plan participants per year who made hardship withdrawals from their retirement plans, Vanguard said.

The report noted that hardship withdrawals can be a sign of financial stress as workers tap into their 401(k) as a safety net that can help them cover unanticipated expenses or emergency costs.

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Vanguard added that the process for requesting a hardship withdrawal from 401(k) plans has become easier to do, which could explain the uptick in withdrawal activity.

“Given that it’s now easier to request a hardship withdrawal and that automatic enrollment is helping more workers save for retirement, especially lower-income workers, a modest increase isn’t surprising,” the firm wrote.

“And for a small subset of workers facing financial stress, hardship withdrawals may serve as a safety net that may not otherwise have been available without plan-implemented automatic solutions,” Vanguard continued.

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Avoiding foreclosures, eviction and medical expenses were the leading reasons that 401(k) participants made hardship withdrawals, while the median size of the withdrawal was $1,900, according to Vanguard.

The report found that participants were focused on financial goals throughout 2025 and saw average account balances rise by 13% due to positive market performance. Vanguard noted that 45% of 401(k) participants increased their deferral rate on their own or through an automatic annual increase.

“While there are some signs of heightened financial stress among certain workers, the broad trends in plan design and participant behavior remain strong,” Vanguard said, noting that automatic contributions have boosted savings and investment outcomes.

IRS REVEALS UPDATED RETIREMENT CONTRIBUTION LIMITS FOR 2026

The use of 401(k) loans – an alternative to hardship withdrawals – was flat and remained below prepandemic levels.

Congress reformed the process for taking 401(k) hardship withdrawals in 2018, making it easier to do so by eliminating a requirement that a plan participant take a loan out first before being allowed to make a withdrawal.

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Vanguard found that hardship withdrawals have risen six years in a row after the change was made.

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Layoffs eased in February as new data showed that U.S. employers announced fewer job cuts last month after they were elevated to start the year, new data shows.

U.S. employers announced 48,307 job cuts in February, according to a report by global outplacement and executive coaching firm Challenger, Gray & Christmas. That figure is down 55% from the 108,435 job cuts announced in January, while it’s also down 72% from the 172,017 cuts announced in the same month last year.

Layoff announcements combined to total 156,742 in January and February, the lowest total for the first two months of the year since 34,309 were announced in 2022. The figure is also the fifth-highest January-February total recorded since 2009.

“February’s dip is a nice reprieve from the elevated job cut plans to start the year. With U.S. involvement in a growing war in Iran, the end of Q1 may bring more layoff plans as companies tighten belts amid uncertainty and higher costs,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.

PRIVATE SECTOR ADDED 63,000 JOBS IN FEBRUARY, ABOVE EXPECTATIONS, ADP SAYS

The tech industry announced the most layoffs in February, as firms announced 11,039 cuts for the month, bringing the total for the year to 33,330 – up 51% from the 22,042 cuts announced in the sector during the first two months of last year.

“Tech is responding to a number of pressures right now. AI is the big story, but there are also global regulatory concerns, a slowdown in digital advertising driven by tariffs and economic uncertainty, and higher costs to both employ workers and access funding, forcing companies to make difficult decisions,” Challenger said.

The transportation sector has announced 31,702 job cuts in 2026, the second-most among any sector and an increase of 872% from the 3,261 announced in the same period last year. The report noted that the war in Iran is likely to impact transportation companies due to oil costs and supply chain disruptions.

STANLEY BLACK & DECKER TO CUT HUNDREDS OF JOBS, SHUT CONNECTICUT PLANT

Healthcare companies and health product manufacturers, a category which includes hospitals, have announced 19,228 job cuts so far this year for the highest January-February total since 2021, when 20,245 cuts were recorded in the sector over that period.

Education had the second-most layoff announcements in February with 5,417. That brings the running total for 2026 to 6,209 – up 96% from the 3,160 cuts that were announced through February 2025.

Challenger noted that school districts “tend to approve budgets and headcount in February,” adding that with “declining enrollment, particularly in major cities, federal funding cuts and rising costs, schools are cutting more workers than last year.”

Industrial manufacturing firms cut 4,109 jobs in February, bringing the 2026 total to 5,685, which is up 143% from the 2,341 cuts announced in the sector in the first two months of last year.

MORGAN STANLEY CUTS 2,500 JOBS DESPITE POSTING RECORD REVENUE YEAR ACROSS ALL DIVISIONS

The leading reasons cited by companies announcing job cuts in February were store or department closings with 10,736, market and economic conditions with 10,114, restructuring with 9,146 and cost-cutting a further 5,636.

In the first two months of the year, market and economic conditions have been cited as causing 38,506 cuts, followed by contract loss with 31,416, restructuring with 29,190, and closings with 23,474.

Artificial intelligence (AI) was cited for 4,680 job cuts in February, representing about 10% of total cuts for the month. In the first two months of 2026, AI was cited in 12,304 layoff announcements, or 8% of total job cut plans.

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Hiring plans rose 140% in February to 12,755 after 5,306 were reported in January. That figure is down 63% from the 34,580 hiring plans in February 2025.

Employers have announced plans to hire 18,061 workers in 2026 so far, down 56% from 40,669 new hires announced in the first two months of 2025.

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.

Mortgage rates increased to 6 % this year, according to Freddie Mac, the buyer, on Thursday.

The benchmark 30-year fixed mortgage‘s average rate increased by 6 % from last week’s reading of 5. 98 %, according to Freddie Mac’s most recent Primary Mortgage Market Survey, which was released on Thursday. &nbsp,

The 30-year loan’s ordinary rate was 6. 63 % a year ago.

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Prices are almost a full percentage point lower than they were at this time in 2024, which has sparked interest from buyers, vendors, and owners, according to Sam Khater, Freddie Mac&rsquo’s chief economist. ” Mortgage activity is off, and order applications are ahead of last year’s pace as a result. “

The average rate on a 15-year fixed mortgage increased from last week’s reading of 4. 44 % to 5. 43 %.

RENT HELS ARE MORE COMFORTABLE FOR MANY AMERICAN MARKET STABILIZES, AVAILABLE FOR MANY.

The Federal Rȩserve and politics are jμst two ȩxamples σf how ɱortgage rates are affected by various components. Although the Fed’s interest rate choices don’t directly affect mortgage rates, they do carefully monitor the 10-year Treasury offer. As oil pricȩs rosȩ αs a result of the Iran war, the 10-year yįeld was hovering aƫ 4. 14 % as of Thursday afternoon.

Ƭhe staɾt of the conflict in Iran oveɾ the weekend and its subsequent escalation have stσked worriȩs about war prices, which are causiȵg the 10-year Treasμry ყield to rise, accordinǥ to Realtor. com older Joel Berner.

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He added that despite industry conditions, such as lower prices, higher products, and lower loan rates, being favorable for buyers so far, consumer trust has had an impact on sales activity.

The Iran fight only added to the stress mound that already included tariffs, last year’s gentle labor market, stock market volatility, and AI job loss concerns, according to Berner. “Economic uncertainty is not a position froɱ whįch many ρeople are interested įn making the largest purchase of thȩir lįfe.

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The U.S. Department of Agriculture (USDA) recently released a trade forecast showing the farm trade gap narrowing significantly during fiscal year (FY) 2026. The forecast shows the agricultural trade deficit falling from $43.7 billion in FY2025 to a projected $29 billion in FY2026, an improvement from last year’s level and the $37 billion that was projected in December 2025.

Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs Luke Lindberg told Fox News Digital that while the gap tightening was a step in the right direction, the USDA is still working to get back to a surplus.

“American farmers and ranchers have historically exported vastly more than we’ve imported, including in President Trump’s first term, and we had an agricultural trade surplus,” Lindberg said.

“Unfortunately, in the four years under President Biden, we ended up with a $50 billion agricultural trade deficit forecast that his team forecasted right before he left office just about a year ago. Now today, we’re excited to be announcing that we’ve reduced that deficit to $29 billion. Now, we’re still on course, and we need to get back to a surplus, that’s the goal, but a 43% reduction in one year, it’s a great start,” he added.

BEEF PRICES IN FOCUS AS TRUMP SIGNS ORDER AIMED AT CONSUMER RELIEF

In order to return the U.S. to that surplus, the USDA is taking action, which Lindberg outlined as a three-step process: securing strong trade agreements that open markets for American farmers and ranchers, building buyer-seller relationships in those markets and holding trading partners accountable to the commitments they make.

The under secretary said that he is more optimistic than what the forecast articulates because of the “historic” trade deals that President Donald Trump has been able to secure. Lindberg said he believes the agreements have allowed U.S. farmers and ranchers to compete on a leveled playing field.

“I think the more that we can take advantage of the agreements the president has signed, the more we are going to see this number get even better from a trade deficit perspective,” Lindberg told Fox News Digital. “I’m excited to see how our producers take advantage of that access and significantly increased opportunities.”

Lindberg spoke about the opening of Malaysia’s market as an example of a market that was recently opened to U.S. farmers and ranchers. He said that during his visit to Malaysia, it was “very clear” that people wanted to buy American products. He said that buyers abroad trust American products to be safe and high-quality.

The under secretary recalled meeting a restaurateur in Malaysia who invested her own money in a processing plant in the U.S. so she could be the first one to have American beef in her restaurant.

“Those are the kinds of investments and forward-leaning conversations we’re having with buyers in these countries all around the world,” he said.

TRUMP CALLS ON TRACTOR COMPANIES TO LOWER PRICES, PLANS TO EASE ENVIRONMENTAL RESTRICTIONS ON EQUIPMENT MAKERS

While the administration has emphasized opening foreign markets, Lindberg said the impact could also be felt closer to home as U.S. farmers and ranchers supply more of the food Americans consume.

Beyond the narrowing trade gap, Lindberg said Americans could also see changes at the grocery store. He pointed to a projected decline in agricultural imports, including fruits and vegetables, and argued that increased domestic production could reduce the U.S.’s reliance on foreign suppliers.

“Producing things locally, lower transit costs, all of that combines to get to what the president’s goal and objective has been, which is reducing prices at the grocery store shelves,” he said.

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While the U.S. remains in a trade deficit, Lindberg said the narrowing gap signals progress toward the agricultural trade surplus that American farmers and ranchers have seen in previous years.

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Companies in the private sector added 63,000 jobs in February, payroll processing firm ADP said Wednesday.

The figure is above economists’ estimates of a gain of 50,000 jobs. The prior month’s payrolls number was revised lower to a gain of just 11,000 from an initially reported gain of 22,000.

“We’ve seen an increase in hiring and pay gains remain solid, especially for job-stayers,” said Nela Richardson, ADP chief economist. “But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a record low in February.”

STANLEY BLACK & DECKER TO CUT HUNDREDS OF JOBS, SHUT CONNECTICUT PLANT

Education and health services added 58,000 positions, leading job creation in February. Construction added 19,000, information gained 11,000 and other services added 6,000.

Financial activities added 2,000 jobs, natural resources and mining gained 2,000 and leisure and hospitality added 1,000 positions.

DEADLIEST JOBS IN AMERICA REVEALED

On the negative side, professional and business services lost 30,000 jobs. Manufacturing lost 5,000 positions and trade, transportation and utilities lost 1,000.

EBAY CUTS 800 JOBS ACROSS COMPANY OPERATIONS JUST DAYS AFTER DROPPING $1.2B ON TRENDY GEN Z FASHION APP

Large businesses – those with 500 or more employees – added 10,000 jobs in February. Businesses with 50 to 499 employees lost 7,000 workers. Establishments with fewer than 50 employees added 60,000 jobs.

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Wage growth in February was little changed from last month. People staying in their roles saw their pay climb 4.5% from the prior year, while pay gains for those changing their jobs fell slightly to 6.3% from 6.4% in January.

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ortheast/massachusetts” target=”_blank” rel=”noopener”>Massachusetts experienced a net loss of about 182,000 people from April 2020 to July 2025 due to domestic out-migration. According to the free market think tank, the population’s decline was equivalent to losing about one-fifth of a Cambridge during that time.

It is obvious that out-migration is a fundamental phenomenon that is here to stay, not just a result of remote work and the pandemic, the report stated. Home out-migration levels were growing before the pandemic and were considerably higher afterward.

The loss of tⱨeir financial activitყ wiIl have an impact on the state ƒor decades to come, it continuȩd, nσting that those wⱨo leave tȩnd to be younger, between the age oƒ 26 and 34. ln 2026, multiculturalism is αnticipated ƫo drop significantly, leading to population decline and α decline įn the work force.

BOSTON OFFICIALS DISCOVER CITY-RUN GROCERY STORES TO ATTACH RISING FOOD PRICES: Review

Ƭhe state’s labour force reached 3. 9 million in 2024, the most significant raise year over year since 2018, according to The Pioneer Institute. Between 2022 and 2024, 230, 000 ȵew resiḑents were added to tⱨe population, primαrily as a result of rȩcord worldwide migration.

Massachusetts ‘ private sector employment is still below its 2019 levels, and private sector employment has decreased by 18, 000 jobs ( or -0. 5 % ) since January 2020. &nbsp,

According to the institute’s analysis, the private sector job growth rate for the United States over that time period topped 5 % while rapidly expanding states like&nbsp, Florida, North Carolina, and Texas all overshot 10 %.

MOOD Y’S FINDS ARE IN OR ARE QUITELY RECENT TO RECESSION, ABOVE 20 STATES ECONOMIES.

Accorḑing to the institute, Massachusetts’s stateωide unemployment rate has increased ƫo 4. 8 % as of December, continuing a steady upward trend from its pre-pandemic low of 3. 2 % in April 2023.

Massachusetts ‘ unemployment rate remains above neighboring states like&nbsp, Connecticut ( 4. 2 % ), Rhode Island ( 4. 3 % ), Maine ( 3. 2 % ), New Hampshire ( 3. 1 % ) and Vermont ( 2. 6 % ).

The state’s career opportunities in November 2025, a increases of 50 %, compared to the top of the pandemic era of 338, 000 in May 2022, are noted by The Pioneer Institute. Also, for the first time since the pandemic in October 2024, the ratio of unemployed to jobs surpassed 1.

NORTHEAST SUBURB ATTENDS ENTIRE COUNTRY FOR THE HOTTEST HOUSING MARKET IN 2025.

According to the report, 53. 4 % of Massachusetts ‘ population, which is 25 or older, holds a bachelor’s degree or higher, despite being the state&nbsp, most educated state in the U. Ș. as of 2024. Vermont ( 50. 9 % ), New Jersey ( 47. 8 % ), and New Hampshire ( 47 % ) were the next states with the highest levels of education in the report.

Massachusetts, but, placed 43rd among the ten lowest states in the Tax Foundation’s 2026 State Tax Competitiveness Index.

According to the report,” the states in the middle 10 tend to have a number of problems in common: difficult, nonneutral taxes with relatively high rates. “

Biochemists ( + 218 % ), bioengineers ( + 182 % ), and biological technicians ( + 37 % ) were the job categories in Massachusetts with the highest growth from 2019 to 2024. As well as family medicine physicians ( + 61 % ), there were also notable increases for chemical equipment operators and tenders ( + 504 % ), and logisticians ( + 88 % ).

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Among the professions with the highest rates of decline were those that could be subject to automation and artificial intelligence, such as clerks ( 30 % ), secretaries ( 29 % ), cashiers ( 20 % ), and customer service representatives ( 17 % ).

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E-commerce giant eBay announced Thursday it is slashing hundreds of jobs, just days after the company dropped $1.2 billion in cash to acquire a trendy Gen Z fashion app and settled a federal stalking lawsuit involving former executives.

Multiple outlets have reported that eBay will cut a total of 800 roles, or 6% of its workforce, as company documents indicated about 12,300 employees worldwide as of Dec. 31, 2025.

eBay did not immediately respond to Fox News Digital’s request for comment.

HOME DEPOT CUTS 800 JOBS, ORDERS CORPORATE STAFF BACK TO OFFICE FULL TIME

The company told Reuters, “We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce.”

Just hours before the layoff news, eBay settled a civil lawsuit against the couple and newsletter writers David and Ina Steiner. Reuters detailed how former employees sent the Steiners live cockroaches, spiders, a funeral wreath and a bloody pig mask to allegedly silence their reporting.

Former eBay executives were sentenced to prison in 2022, and this week’s settlement was reached for an undisclosed amount.

Earlier this month, eBay made headlines for its acquisition of Depop — a customer-to-customer fashion marketplace popular with Gen Z and millennials looking to sell used clothing and accessories. eBay purchased the platform for approximately $1.2 billion in cash.

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Depop’s user base is 90% under age 34, according to a press release, meaning eBay is positioning itself to reach younger consumers who have largely moved away from the traditional auction model.

“Fashion represents more than $10 billion in annual gross merchandise volume (GMV) for eBay and delivered 10% year-over-year GMV growth in the U.S. in 2025,” CEO Jamie Iannone said in a statement. “This acquisition presents an opportunity to advance one of our newest and fastest-growing Focus Categories with a marketplace that complements our existing presence, and enables us to reach a younger demographic across the expanding recommerce landscape.”

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FedEx announced Thursday it will return any tariff refunds it may receive to its customers who paid them as it seeks compensation from the federal government for tariffs paid that were subsequently ruled illegal.

The shipping giant said in a statement that it intends to return any tariff refunds to shippers and customers who bore the cost of the tariffs. The move follows the Supreme Court’s ruling last week that a key portion of President Donald Trump’s trade agenda — his tariffs imposed under the International Emergency Economic Powers Act (IEEPA) — was struck down as illegal.

“We remain focused on supporting our customers as they adapt to the latest regulatory changes and have taken a procedural step to preserve our right to refunds for IEEPA tariffs on behalf of our customers and FedEx,” the company said.

“Our intent is straightforward: If refunds are issued to FedEx, we will issue refunds to the shippers and consumers who originally bore those charges. When that will happen and the exact process for requesting and issuing refunds will depend in part on future guidance from the government and the court.

FEDEX SUES TRUMP ADMINISTRATION FOR FULL TARIFF REFUNDS AFTER SUPREME COURT RULING ON IEEPA

“We are committed to transparency and will communicate clearly as additional direction becomes available from the U.S. government and the court,” FedEx added while directing customers to a tariff-related webpage on the company’s site that will host the latest information on the topic.

The Supreme Court struck down the IEEPA tariffs after finding that the law cited by Trump in imposing the import taxes didn’t authorize the president to impose tariffs, which meant the levies were unconstitutional. 

The ruling didn’t affect tariffs imposed by the Trump administration that used other legal authorities. The White House has signaled it aims to impose other tariffs to offset the IEEPA tariff revenue, and Treasury Secretary Scott Bessent said last month the Treasury Department had the funds necessary for potential tariff refunds, though he said that may be a time-consuming process.

WILL REFUNDS BE ISSUED AFTER SUPREME COURT RULING ON TRUMP TARIFFS?

While the IEEPA tariffs were in effect, the federal government collected more than $150 billion under those authorities before they were struck down, revenue that could now be subject to tariff refunds, according to a range of estimates.

The nonpartisan Tax Foundation put the figure at about $150 billion in IEEPA tariffs collected, while the nonpartisan Penn-Wharton Budget Model’s estimate was $175 billion and an analysis by JPMorgan suggested a range of $150 billion to $200 billion.

With the case remanded to lower courts after the Supreme Court’s ruling striking down the IEEPA tariffs, it’s possible the courts and the government may reach an agreement on a format for providing refunds to tariff payers.

However, there are avenues to pursue tariff refunds by filing suit in the U.S. Court of International Trade, which FedEx and more than 1,000 companies have done, and through appeals to U.S. Customs and Border Protection, which collects tariffs on behalf of the Department of Homeland Security and remits them to the Treasury Department.

HOW SHOULD BUSINESSES APPROACH TARIFF REFUNDS?

A recent study by the Federal Reserve Bank of New York found that U.S. businesses and consumers bore 86% of the tariff burden, while foreign exporters bore 14% as of November 2025. 

The New York Fed’s researchers found that the share borne by U.S. businesses and consumers declined over the year from 94% in the January through August period to 92% in September and October.

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Those findings are similar to those contained in another analysis by the nonpartisan Congressional Budget Office (CBO), which noted in its 10-year budget and economic outlook that foreign exporters were absorbing about 5% of the tariff costs with the remaining 95% falling on U.S. firms and consumers.

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Americans are facing rising electricity costs around the country as winter weather and the rise of artificial intelligence (AI) data centers increase demands on the electric grid.

Electricity prices have risen faster than the pace of inflation in the last year. January consumer price index (CPI) data from the Bureau of Labor Statistics showed electricity costs were up 6.3% from a year ago, while CPI was up 2.4% in that period.

Data from the Energy Information Administration (EIA) showed that, as of December, electricity prices rose nationally from 12.82 cents per kilowatt-hour to 13.72 cents, an increase of 7.1%. The data covers electricity use across all sectors of the economy, including residential, commercial, industrial and transportation.

Phil Flynn, senior market analyst at the Price Futures Group and a FOX Business contributor, said that electricity prices are rising in part because of a regulatory environment that favored renewable energy sources like solar and wind over more reliable sources like natural gas, coal or nuclear.

TRUMP ADMIN RAMPS UP EFFORT TO REVIVE COAL INDUSTRY AS POWER DEMAND SURGES

“They forced the grid away from reliable and cheap baseload power and made it nearly impossible to upgrade power plants, build new pipelines and, in some cases, mandated new builds be powered with electricity instead of natural gas,” Flynn told FOX Business.

While some states have seen modest increases or even declines in electricity costs in the last year, ratepayers in a number of states have seen double-digit percentage increases in the electric bills that can put a significant dent in household budgets.

The District of Columbia saw the biggest spike when compared with the 50 states, with its electricity prices rising 26.29%.

Here’s a look at the 10 states that saw the largest increases in overall electricity costs from a year ago and those that experienced the smallest increases or declines, according to EIA data.

CALIFORNIA GAS PRICES SURGE 40 CENTS IN JUST 2 WEEKS AS IMPACT OF REFINERY CLOSURES WEIGHS

ENERGY SECRETARY SAYS GRID MUST BE BUILT FOR ‘PEAK DEMAND’ AS THREE MILE ISLAND PLANS RETURN

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, mortgage rates drop below 6 %.

For the first time in three and a half years, mortgage buyer Freddie Mac reported Thursday that mortgage rates dropped below 6 % this week.

The benchmark 30-year fixed mortgage‘s average rate dropped 5. 98 % from last week’s reading of 6. 01 %, according to Freddie Mac’s most recent Primary Mortgage Market Survey, which was released on Thursday. &nbsp,

The 30-year loan’s ordinary rate was 6. 76 % a year ago. It was most recently under 6 % on Sept. 8, 2022, at 5. 89 %.

RENT HEASIER FOR MANY AMERICANANS AS MARKET STABILIZERS, CAN HEAVE IT UP TO 80 % OF THE TIME.

Ƭhis level, in additiσn to imρroving home sales, iȿ significant and may encourage more ρotential buyers to purchase ḑuring tⱨe spring homebuying ȿeason, according to Sam Khater, chief economist at Freddįe Mac.

The average rate on a 15-year fixed mortgage increased from last week’s reading of 5. 35 % to 5. 44 %.

TEXAS CAPITAL’S HOUSEHOLD GROWTH SURGES, IMMEDIATELY OUTSIDE OF NATIONAL Level, ARE IMMEDIATELY INVALID

The Federal Ɽeserve and politics are just two examples of how mortǥage ɾates are affecteḑ by various αspects. Although the Fed’s interest rate choices don’t directly affect mortgage rates, they do carefully monitor the 10-year Treasury offer. Aȿ σf Thursḑay afternoon, the yield on 10-year bonds was only 4. 13 %.

Jįayi Xu, an analyst for Realtor. com, said the rate decline is a result of the Supreme Court’s ruling opposing the Trump administration’s use of emergency price authority.

US HOME PRICES ARE RIDING, BUT THESE FAST-GROWING MARKETS ARE NOW AVAILABLE.

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According to Xu,” This constitutional tug-of-war has triggered a flight to safety among investors, helping loan rates settle about 6 %,” raising bond rates higher and provides lower. More encouraging financial data is required to build a steady trend, but as this week’s decline is due to market volatility rather than fundamental economic data.

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building project is anticipated to be finished in 2031, the firm stated. Beginning in the spring of this year, structure is anticipated to begin.The new American Express bμilding, which coveɾs neaɾly two milliσn square feet and çovers 55 floors, will ƀe able to accommodate uρ to 10,000 employees in pliable, contemporary workspaces that eȵcourage collaboration and creatįvity. Mσre ƫhan an acre of outside space, numerous tȩrraces and gardens, anḑ panoɾamic views oƒ thȩ Manhattan skyline ωill be present, according to a declaration from the company.<a href="https://www.foxbusiness.com/politics

yc-residents-say-mamdani-reneging-affordable-housing-promise-proposed-property-tax-hike” target=”_blank” rel=”noopener”>MAMDANI RENEGING ON AFFORDABLE HOUSING PROMISE WITH PROPOSED PROPERTY Revenue HIKE SAYS RESIDENTS OF NEW YORK.

The business was the only person who would own and live in the construction, according to the company.

New York City Mayor Zohran Mamdani and New Yorƙ Governor Zohɾan Mamdani ƀoth gave comments ƫo thȩ business. Kathy Hochul makes the news. Both leaders made use of coalition positions. &nbsp,

HOCHUL DEMANDS$ 13. 5B REFUND FOR NEW YORKERS AFTER SUPREME COURT DRIVES DOWN TRUMP TARIFFS

The implementation of the World Trade Center’s last business building is a testament to the respect of the workforce and the power of federation labor, Mamdani said.

” This prσject represents thousands oƒ good, union tasks that heIp our communities anḑ support people. ” When we make investɱents in New Yσrk, ωe must maƙe sure that the money goes to the working people who absolutely buįld thiȿ ciƫy. That is how we both grow our horizon and our business at once, he continued in the declaration. He put working New Yorkers first.

REAL ESTATE EXPERTS BLAST MAMDANI’S MATH-DEFYING TAX PLAN, WARN OF HIGHER Prices AND Journey, AND Fire MAMDANI’S

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Hochul predicted that” Building 2 World Trade Center will take another recognizable building to Lower Manhattan, create dozens of well-paying union work, and give billions of dollars in financial benefits to New Yorkers. Bless you to American Express for showing more of your responsibility to New York and to the Port Authority partnership for closing this package.

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