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CDC urges parents to stop using Nara Organics infant formula after three babies hospitalized with botulism

Sun, 14 Jun 2026 03:11:25 -0400

Federal health officials are urging parents to immediately stop using a popular organic infant formula after three babies were hospitalized with botulism in a multistate outbreak linked to the product.

The Centers for Disease Control and Prevention said all three infants consumed Nara Organics Whole Milk Organic Infant Formula before becoming ill.

The babies, who ranged in age from 2 to 5 months, were hospitalized and treated with BabyBIG, the FDA-approved treatment for infant botulism.

The cases were reported in California, Pennsylvania and Washington, according to the CDC.

Nara Organics on Friday recalled all lots and can sizes of its Whole Milk Organic Infant Formula, and federal health officials are investigating whether the product was the source of the outbreak.

Testing of opened and unopened formula samples is underway, with results expected in the coming weeks.

Nara Organics confirmed the recall in a statement posted on its website.

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"Stop using all Nara Organics infant formula immediately," the company wrote. "We are heartbroken for the concern and stress this may cause your family."

The formula is sold nationwide through Target stores, Target.com and Nara.com.

The CDC advised parents and caregivers to throw away or return any unopened cans of the recalled formula.

FDA ISSUES HIGHEST-RISK RECALL FOR ALFREDO SAUCE SOLD IN 41 STATES

Officials said opened cans may be retained and stored separately if an infant develops symptoms, as state health departments may request samples for testing.

According to the CDC, infant botulism occurs when spores from Clostridium botulinum bacteria enter a baby's digestive tract and produce a dangerous toxin.

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Early symptoms can include constipation, difficulty feeding, a weak or altered cry and loss of head control.

Parents should seek immediate medical attention if an infant who consumed the recalled formula develops symptoms including poor feeding, difficulty swallowing, decreased facial expression or loss of head control, health officials said.

FDA issues highest-risk recall for Alfredo sauce sold in 41 states

Sat, 13 Jun 2026 18:30:15 -0400

The Food and Drug Administration (FDA) has classified a recall of more than 900 cases of Alfredo sauce at its highest risk level after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination.

The FDA designated the recall as a Class I event, its most serious classification, meaning there is a reasonable probability that use of or exposure to the product could cause serious adverse health consequences or death.

The recall affects 913 cases of Alfredo sauce packaged in 3-pound, 7-ounce sealed poly bags and 12 bags per case, according to an FDA enforcement report.

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According to the FDA, The Coffee Connexion Co., Inc., which is based in Lebanon, Tennessee, voluntarily initiated the recall on May 6, after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination. The recall remains ongoing.

A representative for The Coffee Connexion Co. did not immediately respond to FOX Business' request for comment.

The affected product carries UPC 0039954921963 and includes batches 046188 through 046193 with a best-by date of Jan. 12, 2028; batches 047290 through 047296 with a best-by date of Feb. 16, 2028; batches 048029 through 048034 with a best-by date of March 9, 2028; and batches 049089 through 049094 with a best-by date of April 20, 2028.

MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES

According to the FDA, the product was distributed in Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming.

Salmonella can cause serious and sometimes fatal infections in young children, older adults and people with weakened immune systems. Healthy people infected with salmonella often experience fever, diarrhea, nausea, vomiting and abdominal pain, according to the FDA.

The FDA's enforcement report states that no press release was issued for the recall and does not indicate whether any illnesses have been reported.

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The recall was assigned FDA recall number H-0909-2026 and received its Class I classification on June 4.

Convicted crypto fraudster seeking Trump pardon loses bid to overturn 25-year prison sentence

Sat, 13 Jun 2026 15:07:22 -0400

Sam Bankman-Fried, the former crypto billionaire convicted of fraud in 2023, lost an appeal to overturn his conviction and 25-year prison sentence Friday, Reuters reported.

A New York jury found Bankman-Fried guilty on two charges of wire fraud and five conspiracy counts in November 2023 for his actions while running FTX, a cryptocurrency exchange that declared bankruptcy in 2022 after once being valued at more than $26 billion.

Bankman-Fried pleaded his case to a three-judge panel of Manhattan's 2nd U.S. Circuit Court of Appeals, who unanimously rejected his plea on Friday, calling the evidence against him "conservatively stated, robust," according to Reuters.

"While he was publicly reassuring customers, investors and regulators that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy bank, spending customer funds on real estate, political contributions, and investments," Circuit Judge Barrington Parker said, according to Reuters.

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Bankman-Fried became a prolific political donor in the years leading up to his conviction.

While the one-time crypto magnate appeared to strongly favor Democrats with his donations — his $40 million contributions to Democrats in the 2022 midterms made him the party's second-biggest donor after George Soros — he poured a significant funds into Republican coffers as well.

According to Michael Lewis' book about Sam Bankman-Fried's rise and fall, the former crypto billionaire explored whether a large payment could persuade then-former President Donald Trump not to run for president again. Now, Sam Bankman-Fried signaled he'd like a presidential pardon from Trump.

Bankman-Fried made the admission in an interview with Fox Business' Susan Li, who asked him if he wanted a pardon.

"Absolutely," he told Li. "It would be obviously, you know, ultimately up to the president, not up to me."

Bankman-Fried also insisted he was innocent of defrauding or stealing from his customers.

CONVICTED FTX FOUNDER SAM BANKMAN-FRIED INSISTS HE'S INNOCENT IN EXCLUSIVE PRISON INTERVIEW

"I didn't steal user funds either," he told Li. "Customers have been repaid now 170% or so on their deposits. It's one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence[s]."

FTX's bankruptcy estate confirmed to FOX Business that customers are being repaid in full with some getting returns as high as 118%. However, those estimations are calculated using crypto prices from November 2022, a near-bottom in the cryptocurrency market.

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Federal prosecutors alleged during the trial that Bankman-Fried systematically diverted billions of dollars in customer deposits to cover trading losses at his private hedge fund, Alameda Research, orchestrating what they described as a financial fraud of historic proportions.

Fox Business' Kristen Altus and Susan Li contributed to this report.

The science behind restoring the White House South Lawn after UFC Freedom 250

Sat, 13 Jun 2026 14:11:57 -0400

The ScottsMiracle-Gro Company is committing $1 million to help restore the White House South Lawn after Sunday's UFC event at the White House.

Following the June 14 Freedom 250 event — a centerpiece of the nation's 250th anniversary celebration — the company will provide funding, products and technical expertise to the National Park Service as it restores the historic lawn.

For investors, the high-profile White House project serves as a showcase for Scotts' research and development division. It comes as the $3.3 billion company navigates a stagnant U.S. housing market in which traditional lawn ownership faces headwinds from flat homeownership rates and changing urban demographics.

"The scale and scope of our R&D department is impressive," Nate Baxter, ScottsMiracle-Gro chief operating officer, told FOX Business, noting that the company is leveraging its research muscle to expand into organic and biological alternatives to synthetic fertilizers. "I do believe ScottsMiracle-Gro has the horsepower in terms of the investment we make in R&D, to bring naturals and organics, to bring biologicals."

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The upcoming mixed martial arts event has drawn considerable attention regarding the physical impact on the White House grounds, which feature a massive, 92-foot-high temporary venue known as "the Claw" erected on the turf.

Because the grounds are managed by the National Park Service, Scotts is structuring the contribution as a philanthropic donation.

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The restoration is more complex than a standard landscaping project. Washington, D.C.'s climate presents unique challenges, with freezing winters and hot, humid summers.

To navigate these conditions, Scotts brought its research team to the White House to review proprietary seed options with President Donald Trump, who brought his own turf-management experience to the meeting.

"The president knows a lot about grass. I think his history and past with golf courses," Baxter noted. "It was really interesting to watch our tour scientists and President Trump talk through each of these."

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Scotts presented multiple seed varieties before settling on a customized four-seed blend engineered to withstand heavy staging equipment and helicopter landings.

"Creating a proprietary blend for the White House’s unique conditions presented a distinct set of challenges," Matthew Koch, R&D Lawns Research Fellow at ScottsMiracle-Gro, said in a press release. "It is a functional lawn that has to stand up to hundreds of events and thousands of people each year."

The physical restoration will roll out in phases over the next year. The National Park Service will first disassemble the UFC infrastructure, followed by a previously scheduled public infrastructure project on the grounds.

By July, Scotts will begin restoration by installing mature sod to quickly stabilize and regreen the space before transitioning to its custom seed blend later in the year.

"We're gonna work, we've chosen a sod and it's not the same as the blend, but it has some of the same cultivars. We're gonna help them restart and get a piece established," Baxter said.

Once cooler autumn temperatures arrive, technicians will overseed the lawn with the custom four-seed blend selected for the project. A final round of overseeding and fertilization in spring 2027 will complete the restoration.

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While the exact White House mixture is a one-time donation to the National Park Service and will not be commercialized, Scotts confirmed that the underlying cultivars are present in their retail product lines.

By spring 2027, the company expects the restoration to be complete, bringing the South Lawn back from a weekend of UFC fights to its more familiar role hosting state ceremonies, public events and Marine One landings.

Summer sticker shock: The 14% ‘burger tax’ hitting your backyard BBQ this weekend

Sat, 13 Jun 2026 07:00:04 -0400

Hard-working Americans looking to fire up the grill this weekend are facing major sticker shock before they even light the charcoal.

As inflation continues to squeeze household budgets, the newly released Wells Fargo summer BBQ food report reveals that hosting a standard summer barbecue for 10 people has climbed to an average of $161 — or about $16 per person.

While total cookout costs are up 2.4% year over year, the real pricing pain is hiding right on the meat tray: the quintessential American hamburger beef has skyrocketed by 14%.

"Regarding food inflation, price increases this season will really depend on the category. For fresh fruits and vegetables, we anticipate some relief as summer unfolds.

Growers are motivated by higher prices to plant more acreage, so increased supply should help moderate price hikes and may actually offer consumers a bit of a break," Wells Fargo Agri-Food Institute head Robin Wenzel told Fox News Digital.

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"However, for those who value convenience and opt for prepared foods, expect prices to edge up," she warned.

"These items are driven more by labor, packaging and energy costs than the underlying commodities themselves. As consumers continue to pay for convenience, retailers are able to maintain their margins with higher pricing."

Though burgers are taking the biggest hit from inflation, so are other grilling favorites. Chicken and pork products rose 3% from the previous year and are seen as the "cost-friendly" option, while hot dogs and frankfurters are up 5%.

Ready-made sides like potato salad are up 3% because of higher manufacturing wages being passed on to consumers, the report notes. Other favorites like cornbread are up 4%, raw vegetables are up 6%, and if you’re saving room for dessert, sweet-treat prices have increased anywhere from 1% to 4%.

The higher price tags fall in line with the May consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – which rose 0.5% in May and 4.2% from a year earlier. The annual figure is the highest since April 2023.

Pre-made grocery store shortcuts can be a budget-buster during the summer, as buying a pre-cut vegetable tray adds a $7 premium to your bill, while buying fully cooked, pre-packaged ribs costs $4 more per pound than buying them raw.

"Hosts can save by preparing ribs from scratch, allowing a bit more room to indulge in prepared veggie trays if desired," Wenzel said. "Budget-conscious hosts should thoughtfully weigh where to splurge. While pre-cooked ribs are more expensive, pork still offers a better value than beef, which remains a costly grill option."

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Asked to craft the best "inflation-busting" menu, Wenzel recommended serving up chicken, pork, made-from-scratch sides like deviled eggs (eggs are down 14%), watermelon, strawberries (both fruits are down 3%) and cookies or ice cream for dessert.

"When hosting a BBQ for 10 on a strict budget, plan wisely with proteins and look for value where it counts… the decision between homemade and prepared foods is key. Making from scratch, such as potato salad can save money, but convenience has its place," Wenzel said. "Beer and wine prices haven’t climbed much, but they’ll still add to the total, so asking guests to BYOB is a smart way to keep costs down."

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FOX Business’ Eric Revell contributed to this report.

Mark Zuckerberg admits Meta has 'made mistakes' as AI overhaul reshapes 20% of its workforce: report

Fri, 12 Jun 2026 22:44:23 -0400

Meta CEO Mark Zuckerberg acknowledged Friday that the company has "made mistakes" as it undergoes a sweeping workforce overhaul tied to its aggressive push into artificial intelligence (AI).

Zuckerberg made the remarks in an internal memo to employees, according to Reuters, which reported that the Meta chief warned of challenges associated with the rapid development of AI technology.

Meta has poured billions of dollars into AI infrastructure and tools as it competes with OpenAI, Google and Microsoft for dominance in the emerging technology.

The company has also explored ways to use AI agents to perform tasks currently handled by employees.

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"Given the complexity of these changes, we've made mistakes and will almost certainly make more," Zuckerberg said.

He added that he is "focused on providing as much stability as possible" as the company continues to reshape its workforce.

"I don't want to overpromise because the world is changing in ways that are out of our control," Zuckerberg said.

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He also reiterated that Meta does not expect any additional company-wide layoffs this year.

The comments come after Meta laid off roughly 10% of its global workforce in May and reassigned approximately 7,000 employees to AI-focused initiatives.

Zuckerberg reportedly said the company will attempt to find new positions for employees reassigned to train AI models.

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"By creating important new roles for people, this also allowed us to shrink the size of teams knowing that if we make mistakes in some places, then we could transfer some people back," Zuckerberg said.

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According to Reuters, the restructuring — combined with previous transfers and role eliminations — is expected to ultimately affect about 20% of Meta’s workforce.

Meta employed nearly 78,000 people as of the end of March, according to company securities filings.

FOX Business has reached out to Meta for comment.

FOX Business' Bradford Betz and Reuters contributed to this report.

Frozen pizza snack recall hits 21 states over possible metal contamination in product

Fri, 12 Jun 2026 21:59:26 -0400

Thousands of cases of a frozen pizza snack sold in 21 states are being recalled because they may contain metal pieces.

Rich Products Corp. voluntarily issued the recall of 6,408 cases or more than 160,000 pounds of its Farm Rich Pizza Cheese Crunchers, according to the U.S. Food and Drug Administration.

The pizza was sold in Alabama, Arkansas, California, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin.

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The recall was initiated by the New York-based company on May 19.

The product has a best-by date of July 7, 2027, with a UPC code of 041322652256 and a lot number of 003029976.

MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES.

The FDA classified the recall as a Class II health risk, which means the defect could cause temporary or medically reversible health problems.

The agency didn't specify if any injuries had been reported or how the possible contamination was discovered.

The recall comes weeks after another frozen pizza recall over salmonella concerns.

The pizzas, which spanned several brands, had been sold at Walmart and Aldi.

DOJ clears Paramount-Warner Bros merger after 8-month antitrust probe, says deal could boost competition

Fri, 12 Jun 2026 20:38:06 -0400

The Justice Department (DOJ) on Friday announced it has closed its antitrust investigation into Paramount Skydance's proposed acquisition of Warner Bros. Discovery, concluding the transaction is not likely to harm competition or American consumers.

The Antitrust Division said its eight-month review examined more than two million documents and found the deal could strengthen competition across the media and entertainment industry, including in streaming video, traditional television and theatrical film distribution.

"The extensive investigatory record reviewed by the Division suggests that the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers," the department said.

The DOJ said the combined company would continue competing against larger streaming rivals including Netflix, Amazon and Disney and found no evidence the transaction would likely reduce consumer choice.

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The department also disclosed that regulators reviewed a separate proposal involving Netflix before Paramount reached a definitive agreement with Warner Bros. Discovery.

According to the DOJ, evaluating both proposals provided investigators with competing perspectives on the future of the media industry.

The decision drew criticism from Sen. Elizabeth Warren, D-Mass., who urged state attorneys general to continue fighting the transaction.

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"This is terrible news for every American who doesn't want Trump-aligned billionaires to control what they watch and how much they pay," Warren wrote on X.

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Warren also alleged the merger "reeked of corruption and influence-peddling" and called on state officials to block the deal.

State attorneys general retain independent authority under antitrust laws, and the DOJ's decision does not itself prevent additional legal challenges to the proposed transaction.

The merger still faces several steps before completion.

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Paramount announced Friday that it had extended debt exchange and tender offers connected to Warner Bros.

Discovery and said it expects those offers to remain aligned with the anticipated closing timetable. The company also cautioned that the acquisition remains subject to closing conditions and other risks.

Ford recalls more than 255,000 Focus vehicles over engine stall risk

Fri, 12 Jun 2026 18:38:45 -0400

Ford announced a recall covering more than a quarter million Ford Focus vehicles over an issue that may cause the engine to stall unexpectedly.

The recall affects 255,404 Focus vehicles from the 2012-18 model years due to an issue with the canister purge valve (CPV). These vehicles were covered by a prior recall, but the correct software fix may not have been installed on the affected vehicles.

If the fix wasn't properly installed, the CPV may malfunction and stick open, with the powertrain control module (PCM) unable to adequately detect the stuck open CPV.

"A CPV that is stuck open during the evaporative leak monitor check can cause excessive vacuum in the fuel system of these vehicles. Excessive vacuum can result in deformation of the plastic fuel tank," the recall report said.

FORD ISSUES RECALL FOR MORE THAN 548,000 VEHICLES OVER ISSUE WITH CENTER CONSOLE

Affected vehicles may trigger a malfunction indicator light, or drivers may observe an inaccurate fuel gauge indication, inaccurate distance to empty and/or have drivability concerns.

Ford flagged a concern with the National Highway Transportation Safety Administration (NHTSA) that it found discrepancies that showed the software fix may not have been successfully applied to all vehicles.

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The company then identified the subset of affected vehicles and issued a recall earlier this month. Ford isn't aware of any reports of accidents or injury related to the issue.

Owners of affected vehicles will be notified by mail and instructed to take their vehicle to a Ford or Lincoln dealer to have the PCM updated, with software parts to be validated before the process concludes.

FORD RECALLS NEARLY 420,000 EXPEDITION AND LINCOLN NAVIGATOR SUVS OVER SEAT BELT LOCKING ISSUE

There will be no charge for the service.

Ford approved a reimbursement plan for owners who paid to have the issue fixed prior to the May 2023 safety recall, and owners who paid out of their own expense to have repairs completed may be eligible for reimbursement.

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How the historic SpaceX IPO is turning everyday workers into overnight millionaires

Fri, 12 Jun 2026 17:34:09 -0400

SpaceX's record-setting IPO is creating a financial windfall for thousands of the company's current and former employees who received stock as part of their compensation.

Workers who hold stock in non-public companies are subject to restrictions that can keep them from selling those shares under most circumstances before an IPO occurs. Once the stock goes public, it starts a timeline under which they can begin to sell some of those shares as so-called "lock-up periods" gradually allow employees to sell shares in tranches that expand over time.

The ranks of SpaceX workers who will see an influx of wealth as a result of the IPO include not only those who design the rockets and satellites that have made the company famous, but also baristas, janitors and other workers who helped keep the company running.

FOX Business spoke with workers outside of SpaceX's facility in Hawthorne, California, about their plans for the monumental IPO turning into a reality.

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One SpaceX employee, who said that he's a process planner, said that he wants to "try to stay healthy" and that the IPO is "a beautiful thing… I mean, Elon is the best. Go Elon!"

Another SpaceX employee said that, "I've been a millionaire for a while, but it's always nice to have money. It'll be great when the lock-up period is out, of course, and we can actually sell some of it and that'll feel a little more into the wealth, but it's a great day."

Juan Hernandez, who previously worked as a welder at SpaceX, told CBS News that when he was first hired by the company in 2015 he was offered $10,000 in stock. He explained that it "wasn't a big deal" to him at the time and, "I didn't know it was gonna be this big, at this point."

Hernandez, who now works at Blue Origin after a 10-year stint at SpaceX, told CBS that he has around 6,500 SpaceX shares that would represent a nearly $880,000 windfall based on the IPO listing price of $135 a share. He added that giving employees stock options encourages them to "perform a lot better because, I mean… it's their company as well."

He went on to tell the outlet that he wants to maintain a strong work ethic after the IPO and plans to keep working, and expressed gratitude to Musk for "making all these lives much better and meaningful for their families as well."

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The Wall Street Journal reported that J. André Lavoie, a 63-year-old former SpaceX engineer who moved to Italy five years ago, has shares valued at over $28 million based on the IPO price. Lavoie plans to use the funds to renovate a hotel he purchased and is considering helping others in the community transition from heating their homes with burning wood to cleaner heating sources.

"I don't want to just die with a pile of money in the bank," Lavoie told the Journal. He added that the rise in the value of the shares has caused him to reconsider his plans. "Every year the shares have been going up so radically it keeps messing up my life plans."

The Journal also spoke with 27-year-old Maryellen Musselman, who joined SpaceX in 2022 and worked on a ship used in retrieving rocket parts from the company's launches that splashed down off the coast of Florida.

Musselman used 10% of her pay to purchase additional shares during the two years she worked at SpaceX and said that while she's unsure of how quickly she'll look to sell, saying it'll likely be "an 11th-hour decision."

SPACEX'S FIRST EMPLOYEE SAYS HISTORIC $1.7T IPO WILL BE 'LIFE-CHANGING' FOR THOUSANDS OF WORKERS

She wants to use the money to help her start a ship repair business in Chesapeake, Virginia, saying that, "Mariners are not usually stock owners in their companies, they're not always under benefits."

Tom Mueller, who was hired as SpaceX's first employee in 2002 and led projects including the Merlin Engine that powers the Falcon 9 rocket, the Raptor Engine that powers Starship and other key propulsion systems, told FOX Business' "The Claman Countdown" on Thursday that the IPO would be life-changing for employees.

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"Elon always said that 'Your salary is one thing, but it's the equity that's gonna be worth something.' And we are all like, 'Yeah, okay someday,'" Mueller said. "That day is here. It's great."

Nicotine pouches surge in popularity as Diplo, celebrity investors bet on industry's future

Fri, 12 Jun 2026 17:08:26 -0400

Nicotine usage among Americans has taken a new form as traditional tobacco usage has reached record lows.

Nicotine pouches, an alternative to traditional chewing tobacco, have seen explosive growth. A study by Monitoring Tobacco Product Use showed that U.S. monthly dollar sales of pouches surged 250.8% from January 2023 ($145.5 million) to August 2025 ($510.5 million).

Investors are paying attention, and some top celebrities are getting in on the action. Fox News Digital spoke with music artist and renowned DJ "Diplo" about his stake in the nicotine pouch company Sesh.

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"[Nicotine pouches were] very helpful and controlling my ADHD, so, I try to do it, not in the evening, but in the morning when I'm starting to work. And it was pretty effective," he said.

Diplo, whose real name is Thomas Wesley Pentz Jr., is not the only top name invested in Sesh. Nick and Joe of the Jonas Brothers, Post Malone, The Chainsmokers, and billionaire Palantir co-founder Joe Lonsdale’s venture capital firm, 8VC.

The CDC Foundation reported that young adult usage of nicotine pouches nearly quadrupled from 2022 to 2025, and flavored products have played a role in young Americans using nicotine.

While vaping and e-cigarette devices face stricter regulatory scrutiny when it comes to flavors, as some states have outright banned flavored products, nicotine pouches have more leeway.

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"There's no smoke, nicotine isn’t tobacco," Diplo said. "I’ve never been into tobacco, I've never been into smoking."

Access to nicotine products is becoming increasingly easy. Delivery services like GoPuff and others allow for products like Sesh to be ordered straight to the home. Nicotine and vape shops have popped up on streets in big cities and across the U.S. as demand rises.

The Wall Street Journal reported that President Donald Trump pressured former FDA Commissioner Dr. Marty Makary to speed the authorization of flavored vapes, a shortfall that became a factor in Makary resigning from the job in May.

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Although the FDA has authorized nicotine pouch products for sale in the U.S., health experts warn against the effects they can have, particularly on younger people.

While these products are designed to be discreet, odorless and convenient, Maggie Britton, the clinical director of health initiatives at National Jewish Health, warned that it is particularly dangerous for developing brains, as nicotine can alter the brain circuits involved in attention, learning, memory, mood regulation and impulse control.

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Long-term health effects remain in question, including its impact on oral health, cardiovascular function and cancer risk, she told Fox News Digital.

"Caution should guide both public health decisions and individual choices," she said. "When we don’t yet fully understand the long-term health effects of a product, the responsible approach is to limit use rather than expand it."

LARRY KUDLOW: No Money for Iran, Unless Tehran Changes Behavior and Meets Clear Performance Metrics

Fri, 12 Jun 2026 16:57:46 -0400

As I’ve said so many times, President Trump is not going to make a bad deal with Iran.

And what we are learning from White House sources is an 80 percent to 85 percent chance of what they are calling the Islamabad memorandum of understanding. It could be completed in the next few days, maybe this weekend.

Hat tip to Fox News digital for comprehensive coverage.

All of Mr. Trump’s red lines are included in this MoU. And importantly, the entire deal is premised on Iran changing its behavior in verifiable ways that meet clear performance benchmarks.

The key points of this MoU begin with a plank that would prevent Iran from ever getting a nuclear weapon. That includes removal and destruction of already-enriched uranium.

It also includes a number of technical details where inspectors from the United Nations’ International Atomic Energy Administration and American personnel will be involved in the process of destroying, removing, and verifying the end of Iran’s enriched material.

Additionally, Iran’s long-term nuclear ambitions will be ended. Technical inspection procedures will be included. Quote, "our approach here is to verify, verify, verify. And that the Iranians won’t get the benefit of the bargain unless they perform," end quote. That is according to administration sources.

Also Iran must stop funding terrorism in the region. A full regional peace deal is included. Plus, Iran will agree to opening the Strait of Hormuz, and the blockade will then be lifted if Iran follows through.

Importantly, according to sources, Iran will receive no money upon signing the MoU. Any sanctions relief must be tied to actual performance. If they change their behavior, and start acting like a normal country in accordance with this deal, then money will be forthcoming.

But after all, this is not the final deal, this is a memorandum of understanding. So hard bargaining on technical details and verification processes still lies ahead, even if this MoU is signed. That’s very, very important.

You might think of this as the beginning of the end of the war, but it’s not yet the end of the war.

Undoubtedly, though, Mr. Trump’s coercive diplomacy, or negotiations with bombs, is going to continue if Iran doesn’t measure up.

I have the feeling that Mr. Trump’s threat to destroy their infrastructure — bridges, power and water facilities — moved this MoU along pretty rapidly.

But performance incentives are the heart of this deal.

Behavior must change.

Trust, but verify.

SpaceX set a new record for IPOs: These are the world's 5 largest

Fri, 12 Jun 2026 15:49:04 -0400

Elon Musk's SpaceX debuted on the public market on Friday, raising $75 billion in what was the largest IPO in history.

SpaceX's IPO more than doubled the previous IPO record and provides the company with capital to help finance what Musk explained on a pre-IPO livestream with JPMorgan Chase will be a "significant growth phase" as it ramps up the deployment of its Starlink communications satellites and looks to build artificial intelligence (AI) data centers in space.

The IPO is the first of several highly anticipated IPOs that are expected to occur later this year, with a pair of companies at the forefront of the AI boom – ChatGPT-maker OpenAI and Anthropic – taking steps toward a debut.

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It remains to be seen whether those looming IPOs will break the new record set by SpaceX, but here's a look at the four other IPOs that round out the list of the five largest in history:

Saudi Arabia's state-owned oil company went public in December 2019, with the deal initially raising $25.6 billion in capital after listing on the Saudi stock exchange.

That amount grew to about $29.4 billion after Saudi Aramco and its underwriters exercised an over-allotment option – also known as a greenshoe option – that allowed Aramco to issue more shares due to the high level of demand from investors.

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The China-based e-commerce giant Alibaba went public in September 2014 with a $21.8 billion capital raise, which ranked as the largest at the time.

As with the Saudi Aramco IPO, intense demand prompted Alibaba's underwriters to use an option to issue more shares that boosted the total amount raised to $25 billion. The company is listed on the New York Stock Exchange.

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Japan-based communications provider SoftBank debuted in December 2018 with a $21.3 billion IPO on the Tokyo Stock Exchange.

The company's parent, SoftBank Group, is a major tech investor around the world and has made notable investments in U.S. AI companies and chipmakers. SoftBank CEO Masayoshi Son said in December 2024 that his firm would invest $100 billion in the U.S. with the goal of creating 100,000 new jobs.

The 2010 IPO of the Agricultural Bank of China was the world's largest at the time, totaling an initial $20.8 billion – though that figure later grew to $22.1 billion when it issued more shares on exchanges in Hong Kong and Shanghai through a dual-listing.

The firm is one of the largest financial institutions in China in terms of assets and customers, serving as the primary bank for Chinese agricultural businesses.

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NYC lawmakers consider making Mamdani's city-owned grocery stores permanent

Fri, 12 Jun 2026 14:22:39 -0400

New York City Councilmember Jennifer Gutiérrez and some of her colleagues are pushing a proposal to require the establishment of at least five municipal grocery stores per borough.

The proposal comes as New York City Mayor Zohran Mamdani's administration aims to establish one municipal grocery store in each of the Big Apple's five boroughs by the end of his first term.

"Let's make sure it’s not something that just our current mayor invests in, but something we can codify into in perpetuity," Gutiérrez said, according to The City Reporter.

Fox News Digital reached out to Gutiérrez's office on Friday to request a comment from the councilmember.

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The proposal calls for the commissioner of small business services or the leader of a different agency designated by the mayor to create at least five grocery stores per borough "in consultation or partnership to the extent feasible with a contracted entity," according to the measure.

A press release pertaining to the mayor's effort earlier this year noted, "The city-owned grocery initiative is designed to lower costs on everyday staples by using public ownership to eliminate costs that are currently passed on to consumers."

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"The initiative aims to deliver affordable, high-quality groceries that provide meaningful savings to New Yorkers and strengthen neighborhood food access citywide. Mayor Mamdani has allocated $70 million in capital funds for the development of the five sites," the release noted.

"Under the model, the City will own the land and cover overhead costs like rent and construction. A private operator, selected through a request for proposals, will manage daily operations and be contractually required to pass savings directly to customers on a core basket of everyday staples," the release explained.

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Mamdani, a self-described democratic socialist, took office this year after winning the New York City mayoral election last year while running as a Democrat.

'Still very immature': Texas sports bar owner sounds alarm on NFL's streaming pivot

Fri, 12 Jun 2026 13:22:12 -0400

The traditional American pastime of gathering at a local sports bar to watch Sunday football is being strangled by a technical and financial bottleneck, one restaurateur is warning.

"It's why we're speaking up, because the simple matter is that it is hard to watch all of the streaming things… Is it on YouTube TV? Is it the [NFL] Sunday Ticket? Is it Amazon?" Texas restaurateur and Tailgators Pub & Grill founder Jim Hallers said on "Varney & Co." Friday.

"For the last 30 years, it's come to us through DirecTV, and it's just worked," he continued. "And so we like a centralized approach, but we just need technology that works, and streaming is still very immature."

Testifying before Congress on Wednesday, Hallers explained to lawmakers that the sports media landscape's sudden fragmentation into separate streaming apps is creating an expensive tech maze for hospitality venues, threatening the business model of – often-rural – neighborhood pubs that rely on NFL fans to keep their doors open in the fall.

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"Everybody has to move to streaming. And so, literally, now, we have to buy streaming boxes. And in a typical smaller bar where I have maybe 30 or 40 TVs with a DIRECTV box mounted behind every television, I now have to get an EverPass streaming box. But you can't put an EverPass streaming box behind every TV. It doesn't work like that," Hallers said on Capitol Hill. "Just imagine at home, if you tried to stream, you know, 30 Netflix's at once, your internet's just going to die. Well, it's the same way for most bars and restaurants today."

"One commercial video switch with enough inputs and outputs can cost in excess of $15,000. A full upgrade including equipment, wiring and the labor, will cost $30,000 to $40,000 per restaurant," he also testified. "So instead of simplifying the business, the transition is adding another layer of cost and complexity."

Wednesday’s congressional hearing stemmed from the Iowa Restaurant Association and the Wisconsin Restaurant Association, which each represent thousands of independent restaurant and bar owners, sending letters to high-powered GOP lawmakers in their states urging them to act on "a significant shift in the commercial distribution of NFL Sunday Ticket that threatens to impose immediate and substantial burdens on small businesses" across their states.

The concern comes after streaming service EverPass Media announced it would become the exclusive commercial option for NFL Sunday Ticket starting with the 2026 season. The Iowa letter was sent to Senate Judiciary Committee Chairman Chuck Grassley, while the Wisconsin edition went to Rep. Scott Fitzgerald, who chairs the House Judiciary Subcommittee on Antitrust.

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"We understand that transitioning to a streaming-based solution for NFL Sunday Ticket may require planning, from connectivity and hardware to overall venue readiness. That’s why our team is committed to helping customers make the transition with confidence and be fully prepared before kickoff. Our goal is simple: make sure your venue is ready well before the first Sunday of the season, so you can focus on what matters most: delivering a great experience for every guest who walks through the door," EverPass’ website reads.

"We really need it to work," Hallers pleaded on Friday. "It's not a matter of price. We just want technology that works, and that's what they've been taking away from us."

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Fox News’ Brian Flood contributed to this report.

SpaceX makes historic debut; Musk solidifies status as world’s first trillionaire

Fri, 12 Jun 2026 11:47:29 -0400

Elon Musk's SpaceX began trading at $150 a share on Friday, above its listing price of $135 a share, making him the world's first-ever trillionaire following the IPO.

The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk's stake in SpaceX to an estimated $690 billion. The company is trading on the Nasdaq under the ticker "SPCX" after pricing its IPO on Thursday.

Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk's net worth is now estimated at about $1.1 trillion.

SpaceX stock jumped after it began trading, rising to $168.75 a share before paring some of those gains to trade around $158 a share. It subsequently rebounded and reached a new high of $176.52, and closed at $160.95 per share.

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Investor demand for SpaceX has been intense. Reuters reported this week that the company attracted more than $250 billion in orders, while Bloomberg News reported Thursday that retail investors alone submitted more than $70 billion in requests for shares.

The company is expected to allocate at least 20% of the offering to retail investors, according to Bloomberg — an unusually large portion for individual investors in a deal of this size.

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SpaceX's IPO raised $75 billion and was the largest IPO in history, surpassing the $29 billion IPO of Saudi Aramco in 2019.

The IPO cemented Musk's status as the world's richest person, pushing the value of his holdings toward $1 trillion, a milestone no individual has previously reached.

Founded by Musk in 2002, SpaceX has grown into the world's largest space company and a dominant force in commercial launch services. The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.

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Starlink, SpaceX's satellite internet business, has emerged as a major growth engine, providing broadband connectivity to consumers, businesses and governments around the world. According to the company's IPO filing, Starlink generated the majority of SpaceX's $18.67 billion in revenue last year.

The public debut has long ranked among Wall Street's most anticipated offerings. SpaceX spent years as one of the world's most valuable private companies, with investors eager for an opportunity to buy shares in the business.

According to the IPO filing, SpaceX will maintain a dual-class share structure that leaves control firmly in Musk's hands. Class B shares will carry 10 votes each, while publicly traded Class A shares will carry one vote apiece. Musk is expected to retain roughly 85% of the company's voting power following the offering.

Some 4,400 current and former SpaceX employees also stand to become millionaires through stock compensation accumulated during their time at the company, according to The New York Times, citing an analysis by investment platform Hill.com.

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If shares trade above their offering price following Friday's debut, SpaceX's valuation could climb even higher, potentially pushing Musk's net worth beyond the trillion-dollar threshold while rewarding thousands of employees and investors who backed the company during its rise.

Reuters contributed to this report.

Hedge fund billionaire expands Miami development plans after Mamdani feud

Fri, 12 Jun 2026 10:51:47 -0400

Billionaire hedge fund CEO and owner Ken Griffin is making good on his promise to "double down" on Miami after publicly feuding with New York City Mayor Zohran Mamdani over New York's new tax on expensive second homes.

Griffin, who runs hedge fund Citadel, plans to add a 300-unit apartment building and a 1,400+ space parking garage to the site of Citadel’s future headquarters in Miami’s financial district Brickell, recent filings show.

Citadel also acquired every unit in a 22-story condominium tower across the street from the Brickell building with plans to demolish it to expand the Miami campus.

"We are focusing this part of our development at 1201 Brickell solely on commercial office space. Miami is open for business, and the unparalleled quality of our development will drive the tenancy of leading global firms, including Citadel and Citadel Securities," a Citadel spokesperson told FOX Business.

The Miami push follows a protracted feud between Griffin and Mamdani, stemming from a video Mamdani made specifically targeting Griffin's Park Avenue penthouse in an explainer for his new city tax on expensive second homes.

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"When I ran for mayor, I said I was going to tax the rich. Well, today we're taxing the rich... This is an annual fee on luxury properties worth more than $5 million whose owners do not live full-time in the city — like this penthouse, which hedge fund CEO Ken Griffin bought for $238 million," Mamdani said in his April 15 video while standing in front of Griffin's penthouse.

Griffin responded, calling the personal attack "creepy and weird," worrying that it put him in harm's way and demonstrated "a profound lack of judgment," on Mamdani's part.

Griffin's Citadel executives then suggested that a new Citadel office space in Midtown could become a casualty of Mamdani's not-so-business-friendly policies.

MAMDANI'S CLASH WITH BILLIONAIRE PUTS NYC STREET FOOD VENDORS IN THE CROSSHAIRS

"We are about to commence the redevelopment of 350 Park Avenue, creating 6,000 highly paid construction jobs and supporting the creation of more than 15,000 permanent jobs in Midtown New York," Citadel COO Gerald Beeson wrote in an April 23 memo to employees.

"The project – if we move forward – will entail more than $6 billion dollars of spending," he also wrote.

Mamdani eventually softened his rhetoric, thanking Griffin for his contributions to the city.

Citadel already moved its headquarters from Chicago to Miami in 2022, and the Brickell acquisitions further grow the hedge fund's South Florida footprint.

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FOX Business contacted Mayor Mamdani's office for additional comment.

FOX Business' Madison Alworth and Matthew Kazin contributed to this report.

More than 17K coffee makers recalled after dozens of reported burn injuries

Fri, 12 Jun 2026 02:25:52 -0400

More than 17,000 coffee makers were recalled over a burn hazard that can cause serious injury, according to federal regulators.

About 17,600 Kidisle-branded hot and iced coffee machines were affected by the recall, according to the U.S. Consumer Product Safety Commission.

"The recalled coffeemakers(sic) can become clogged, causing hot liquid or steam to build up and be released unexpectedly during use, posing a risk of serious injury from burn hazard," the commission said on Thursday.

FORD ISSUES RECALL FOR MORE THAN 548,000 VEHICLES OVER ISSUE WITH CENTER CONSOLE

At least 107 reports have been made regarding the coffee makers releasing hot liquid or steam unexpectedly, causing at least 27 reported injuries, including first- and second-degree burns that required medical treatment.

The item is designed in black, white and gray colors, measures about 11 inches high and 6 inches wide and has a 50-ounce detachable water tank. It can brew six to 14 ounces of cupped or ground coffee.

The coffee makers were sold online at Amazon, Walmart and eBay from June 2024 through April of this year for about $49.

The machines affected by the recall have model "KC101B" printed on a sticker on the underside while the brand name is listed on the product order receipt.

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Consumers are urged to stop using the coffee makers immediately and contact Kidisle for a full refund.

Ford issues recall for more than 548,000 vehicles over issue with center console

Thu, 11 Jun 2026 21:08:33 -0400

Ford is recalling more than 548,000 vehicles over a center console defect that could cause injury to the occupants, according to the U.S. National Highway Traffic Safety Administration.

The recall affects certain 2018-2024 Ford Expedition vehicles, the federal regulator said Thursday. A total of 548,463 vehicles are affected by the recall.

The center console's chrome plating may bubble and peel over time, potentially leading to sharp edges, the regulator said. Passengers who come into contact with the sharp edges face an increased risk of injury.

KIA RECALLS 6K VEHICLES DUE TO POSSIBLE SEAT BELT DEFECT THAT COULD RAISE INJURY RISK

"A customer may come in contact with the sharp edge of peeling chrome while driving, increasing the risk of injury," the NHTSA report reads.

The NHTSA said the defect may have been caused by the center console chrome trim that ⁠was manufactured by a supplier using parameters that failed to meet Ford's specifications.

The manufacturers listed in the regulator's report are automotive parts suppliers Xin Point and Forvia.

According to the recall report, Ford identified a trend in the NHTSA's Vehicle Owner Questionnaires (VOQs) in September about the bubbling and peeling of chrome trim on the center console of 2019-2020 model-year Ford Expedition vehicles.

"Five of the six reported VOQs allege customer hand injuries from contact with the sharp edge of the peeling chrome trim," the report reads.

Ford said it is aware of one accident and 65 injuries in connection with this issue.

MORE THAN 1 MILLION JEEP VEHICLES RECALLED OVER FIRE RISK AS OWNERS WARNED NOT TO PARK INSIDE

"Customer reports of hand and finger lacerations associated with this condition include a small number of instances stating that professional medical attention was required," the report says.

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Customers affected by the recall will be able to go to a Ford dealer to have their vehicles inspected and center consoles replaced as ⁠necessary at no cost.

Notification letters about the safety risk are expected to be mailed out on June 29.

Additional letters will be sent in January of next year "once the remedy is available," according to the NHTSA.

Chick-fil-A launches first-ever non-chicken kids meal nationwide

Thu, 11 Jun 2026 20:03:32 -0400

Chick-fil-A has added a new entrée option to its Kids Meal lineup, introducing a Mac & Cheese Kids Meal at restaurants nationwide.

The meal is available now and includes an entrée, side item, drink and prize.

The launch marks the first time Chick-fil-A has offered macaroni and cheese as a standalone Kids Meal entrée, expanding beyond its past options of grilled or crispy chicken nuggets and chicken strips.

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The Mac & Cheese Kids Meal features a medium-sized serving of the chain's macaroni and cheese, which is made with a blend of Parmesan, cheddar and Romano cheeses and baked daily in restaurants.

Customers can also add bacon to the entrée for an additional charge.

Guests can choose from a variety of sides, including Waffle Potato Fries, Waffle Potato Chips, a fruit cup or applesauce.

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Drink options include white or chocolate milk, Honest Kids Apple Juice, Simply Orange, bottled water or upgraded fountain and frozen beverages.

The addition reflects Chick-fil-A's effort to broaden options for younger diners, particularly children who may prefer non-chicken menu items.

Macaroni and cheese has long been one of the chain's most popular side dishes and is now available as the centerpiece of a Kids Meal for the first time.

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Chick-fil-A is also rolling out a new collection of Kids Meal prizes at select locations.

The lineup includes cow-themed toys and games inspired by the company's longstanding mascot, such as a Clip a Cow keychain, Cow Kart cardboard racer, Hasbro Cow Games and a Cow Case featuring one of six foldable games.

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The new Mac & Cheese Kids Meal is available now at participating Chick-fil-A restaurants across the United States, while toy availability may vary by location.

FOX Business has reached out to Chick-fil-A for comment.

SpaceX's first employee says historic $1.7T IPO will be 'life-changing' for thousands of workers

Thu, 11 Jun 2026 17:55:05 -0400

SpaceX’s first employee, Tom Mueller, said the company’s record-breaking IPO will be a "life-changing" moment for employees during an exclusive interview with "The Claman Countdown" on Thursday.

SpaceX will start trading on the NASDAQ on Friday in the largest IPO in history. The IPO is expected to be priced at $135 per share and aims to raise $75 billion, valuing the company at $1.77 trillion.

"Elon always said that ‘Your salary is one thing, but it's the equity that's gonna be worth something.' And we are all like, ‘Yeah, okay someday," Mueller said. "That day is here. It's great."

WHY IT’S INEVITABLE THAT ELON MUSK WILL BE A TRILLIONAIRE

SpaceX will trade under the ticker symbol SPCX, and its employees could become millionaires based on their access to stock options.

The IPO will create more than 4,000 new millionaires among current and former employees of the 24-year-old space giant, according to estimations.

"We're having a little party tomorrow morning at 6 a.m. We're going to ring our own bell and celebrate with a bunch of early SpaceX employees," Mueller told FOX Business.

SpaceX's founder, Elon Musk, could possibly become the world's first trillionaire following the historic market debut.

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His estimated net worth could rise 26%, from roughly $793 billion to $1 trillion, based on the market value of the assets he owns, including SpaceX and Tesla.

Mueller, who was hired as SpaceX’s first employee in 2002, led projects including the Merlin Engine that powers Falcon 9, the Raptor Engine that powers Starship and other key propulsion systems.

He said joining SpaceX from a large, bureaucratic space corporation was "refreshing" and gave him more freedom to innovate, describing Musk’s company culture as energizing.

"I had just come from TRW, a big space corporation, and getting away from the bureaucracy and able to move fast and really be energized and do the type of product development that we wanted to do… It was really refreshing and fun, actually, even though it was hard. It was actually really satisfying," Mueller said.

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Mueller explained how a pivotal moment in 2008 helped pull the company, which generated $18.7 billion in revenue in 2025, back from the brink of bankruptcy.

"2008 was actually the year that we finally made orbit, the fourth flight of Falcon 1 made orbit that year, and it was also when we were just about out of money and that flight saved us," he told "The Claman Countdown."

"Then we really got regimented and started flying Falcon 9, the rocket that's currently flying. And it's been the most reliable rocket in history. So, it really all came together. And now look where we're at now. We're a trillion-dollar company."

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Major investors and corporations are eagerly awaiting SpaceX’s market debut, with BlackRock placing an order for at least $5 billion in shares, according to The Wall Street Journal.

IPO investors can make trades as soon as the SpaceX stock goes live on Friday.

LARRY KUDLOW: Trump’s Secret Sauce

Thu, 11 Jun 2026 17:34:23 -0400

High drama today as President Trump called off the Iranian bombing and announced that a deal with Iran is imminent from his Truth Social posting that "Discussions and final points have been, in both concept and great detail, approved by all parties involved." That’s America, Israel, Iran and all of the Gulf states involved in the war.

The president spoke about this today at the White House: "The Strait will officially open as soon as we sign, which could be soon. Very soon, maybe over the weekend in Europe."

Stock markets soared; oil prices fell. Mr. Trump also noted on his Truth Social that "the Naval Blockade will remain in full force and effect until this Transaction is finalized."

And my great hope is that no money is given to Iran for a long time, until they prove that their behavior is changing. And frankly, while I applaud President Trump’s diplomatic endeavors — such as negotiating with bombs — I have nothing but skepticism about Iran following through on their promises.

Just yesterday, the United Nation’s nuclear watchdog blasted Iran for failing to allow inspection and verification of their weapons and their weapons-grade uranium. That’s an old story.

And Mr. Trump, in whatever the deal turns out to be, is surely going to want complete denuclearization, some kind of end to their enriched uranium, as well as reopening the strait toll free and an end to Iran’s state sponsorship of terrorism in Israel and throughout the Middle East.

As President Reagan always said, trust but verify. And as both Reagan and Mr. Trump believe, peace through strength.

Meanwhile, one of the really neat developing stories, regardless of any Iranian deal, is Mr. Trump’s secret supply of oil tankers going through presumably the Oman Channel of the Hormuz Strait.

As Mr. Trump said yesterday and has corroborated by a number of oil watchdogs, some 200 ships transited the strait for a total of about 100 million barrels of oil over the past month.

That comes to about 3 million barrels per day. Recall that world oil supply and demand intersect at about 100 million barrels per day.

And the prior closing of the Strait took about 20 percent, or about 20 million barrels per day, off the market. So the supply shortages drove oil prices way up.

Yet this story is surreptitiously changing. Mr. Trump riffed about it earlier today: "Over the last month, we’ve been, taking our ships, big ships, quietly at night. You guys didn’t know that? Pretty cool. Right? As a captain, he knows about more about ships than I do. But it’s pretty cool. He turned off the lights."

Mr. Trump added: "We bombed their radar and everything so they couldn’t see what was going on. And we took out, some nights, 25 ships, some nights, 15 days. Last 4 or 5 nights we did 25, 22, 21, 26, 18 and 14. Who else would remember those numbers? Nobody." It’s "a lot of ships," he concluded.

It’s a great story. Now administration sources tell me about a dozen ships per night are being moved through the strait. I’m doing some arithmetic now — that’s 360 a month.

Using the same ratio of the first month’s secret passage, that will get us about 180 million additional barrels of oil which would come to roughly 6 million barrels a day. That’s big stuff. Remember we’re 20 million barrels short because of the closing of the Strait.

Now last month’s 3 million barrel, perhaps this month’s 6 million barrels, that’s 9 million additional barrels per day to reduce the 20 million barrel shortfall.

These extra oil supplies are bringing oil prices down in the market place and will continue on a steady basis if it keeps up. Gasoline prices will be following in tow.

It’s a silver lining for the temporary inflation bulge. And it’s gonna make stocks strong and over time, interest rates softer.

Mr. Trump’s secret sauce. Think of it.

Mortgage rates tick higher, but buyers show signs of confidence

Thu, 11 Jun 2026 16:55:58 -0400

Mortgage rates jumped this week, 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 6.52% from last week's reading of 6.48%.

The average rate on a 30-year loan was 6.84% a year ago.

MORTGAGE RATES JUMP AS INFLATION FEARS, IRAN WAR WEIGH

"The 30-year fixed-rate mortgage averaged 6.52% this week," Sam Khater, chief economist at Freddie Mac, said in a statement.

"Stronger employment momentum has helped existing home sales reach a five-month high. Importantly, we're seeing homebuyers look past the short-term rate fluctuations and actively enter the market, signaling renewed confidence in homeownership opportunities."

FORECLOSURES HIT HIGHEST LEVEL IN 6 YEARS AS INSURANCE, PROPERTY TAX COSTS SQUEEZE HOMEOWNERS

The average rate on a 15-year fixed mortgage rose to 5.84% from last week's reading of 5.79%.

The U.S. added 172,000 jobs in May, beating forecasts, while unemployment held steady at 4.3%. The strong report may lower hopes for near-term interest rate cuts, according to Realtor.com economist Jiyai Xu.

TRUMP ADMINISTRATION MAKES FANNIE, FREDDIE CHANGE IT SAYS WILL BENEFIT 'TENS OF MILLIONS' OF AMERICANS

The Labor Department also reported that the Consumer Price Index rose 4.2% year over year in May, the highest since April 2023.

Core inflation, excluding food and energy, rose 2.9%, according to Realtor.com.

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"What began as a question of when the Fed would cut rates has quietly shifted," Xu said in a statement. "Ongoing global tensions and rising energy prices have prompted some to wonder whether a rate increase may be back on the table."

1 under-the-radar ETF to invest $1,000 in right now that's outperforming major indexes this year

Thu, 11 Jun 2026 13:14:15 -0400

When most people think of major stock market indexes, their minds go to the S&P 500, Nasdaq Composite, or Dow Jones because they're the "Big 3." One index that often flies under the radar is the Russell 2000, which tracks the smallest 2,000 companies in the Russell 3000 index.

The Russell 2000 is to small-cap stocks what the S&P 500 is to large-cap stocks, and so far this year, ETFs like the Vanguard Russell 2000 ETF have outperformed all of the "Big 3" indexes. If you have $1,000 available to invest, it could be a great addition to your portfolio for the long haul.

Investing in small-cap stocks – which are typically categorized as companies with market caps between $250 million and $2 billion – is generally a higher risk/reward trade-off than investing in larger companies.

ETF ASSETS ARE SURGING. HERE'S HOW THEY DIFFER FROM MUTUAL FUNDS

On one hand, their small sizes usually mean they're more susceptible to broader market and economic conditions (like interest rates) and are more volatile. On the other hand, their small size leaves much more room for growth. It doesn't always play out this way, but in theory, it's much easier to double a valuation from $500 million to $1 billion than from $500 billion to $1 trillion.

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

Small cap doesn't always mean a new, start-up-like company, either. It can be a well-established company operating in a niche. In either case, VTWO gives you access to 1,957 small-cap stocks from every major sector. It's a true one-stop shop for small-cap stocks.

Through market close on June 5, VTWO is up 13.2%, marking one of its best starts to a year in a while. And although its gains this year are impressive, it's important to zoom out and look at longer-term performance as well. Here is how VTWO has performed over the years compared to the "Big 3" indexes:

Source: YCharts. Table by author. Year-to-date returns based on market close on June 5.

ETFS VS MUTUAL FUNDS IN 2026: WHICH IS RIGHT FOR YOUR PORTFOLIO?

VTWO's underperformance over the years doesn't quite scream "invest in me," but its main goal is diversification and covering more ground, rather than having the bulk of your returns rely on a handful of tech giants like the "Magnificent Seven" stocks.

I wouldn't make VTWO the bulk of your portfolio (aim for less than 10%), but having some exposure is a great way to tap into growth potential while also setting your portfolio up to have a winner during times when small-cap stocks usually outperform the market (like now). If you think big tech is due for a pullback, now is a good time to add some of the little guys to your portfolio.

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Stefon Walters has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Cattle herd ‘fix’ is taking years longer than predicted, CEO warns amid historic beef shortage

Thu, 11 Jun 2026 12:31:15 -0400

America’s historic beef shortage may not ease anytime soon as the U.S. cattle herd remains at its lowest level in more than seven decades, keeping pressure on prices even as consumers continue to buy beef at elevated levels.

Omaha Steaks President and CEO Nate Rempe joined FOX Business’ Maria Bartiromo on "Mornings with Maria" to discuss the supply challenges facing the beef industry and why meaningful price relief could still be years away. The discussion comes as retail beef prices reached a record $9.64 per pound in April, up 13% from a year earlier, according to USDA data.

While recent concerns have centered on the re-emergence of the screwworm parasite in parts of Texas and New Mexico, Rempe said the larger issue is its effect on cattle imports from Mexico, which account for roughly 4% to 5% of the U.S. live cattle market.

The bigger challenge, however, remains the size of the domestic herd.

"We've got to build the herd," Rempe said. "If we can build the herd and we can build supply back up, then we can see beef prices come down."

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Rempe noted that ranchers must retain more female cattle for breeding rather than sending them to market, a process that takes time and delays any meaningful increase in supply.

"As you know, we're at a 72-year low," Rempe said. "I think maybe last year when we talked, we were thinking we would see recovery in '27, now we're into ‘28, maybe even ’29 before we start seeing meaningful herd building happening."

Those supply constraints have persisted even as consumer demand remains strong heading into key grilling holidays and summer gatherings.

"The demand is just not waning," Rempe said.

That combination of limited supply and resilient demand has created an unusual market dynamic that continues to support higher prices.

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"I think the big question for economists and people thinking about the beef market and sort of retail beef in general is how long can that persist?" Rempe said. "How long can the supply stay constrained and demand stay high?"

The comments underscore the challenges facing beef producers as the industry works to rebuild the nation's cattle herd from historically low levels.