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Are you a new stock market investor in June 2026? Here's Warren Buffett's advice

Tue, 09 Jun 2026 10:09:34 -0400

Over the past 30 years, the S&P 500 index has generated a total return of 1,770% (as of June 5). That performance supports the view that the stock market is one of the best asset classes for growing your wealth. A starting sum of $10,000 in this benchmark in June 1996 would be worth $187,000 today. The gains have been even more remarkable over the past decade.

Understanding that this kind of performance can have a profound impact on your financial well-being, it might be time for new investors to direct some of their savings into the stock market. Given how daunting it might seem, it can be difficult to figure out where to even begin.

Here's where Warren Buffett comes into the picture. The great investor is also a wonderful educator whose advice is well worth considering. If you're new to the stock market this month, listen to the Oracle of Omaha's suggestion.

WARREN BUFFETT ERA ENDS AFTER 60 YEARS AS CEO WITH GREG ABEL TAKING OVER

Buffett is known for his exceptional capital allocation skills, having compounded Berkshire Hathaway's share price at a yearly clip of almost 20% for six decades before stepping down as CEO at the end of last year. But his advice for most investors is surprisingly simple. He basically recommends buying a low-cost S&P 500 index fund.

This perspective probably comes from the fact that the average person doesn't have the time, ability or desire to want to pick individual stocks and manage a portfolio. And it stems from the inability of expert fund managers to beat the market.

THIS SECTOR HAS DOMINATED ETF RETURNS SO FAR IN 2026

Active management strategies generally have a bad track record. Data shows that the vast majority of large-cap fund managers lose to the S&P 500 over the long term. Whether these professionals trade too often, charge high fees or just aren't adept portfolio managers, that is a very disappointing statistic. And it makes you wonder why more investors don't choose the passive route.

One of the best options is the Vanguard S&P 500 ETF. It comes with an extremely low expense ratio of 0.03%. Over several years and decades, investors will pay a significantly smaller amount than what active managers typically charge. The difference leaves more money in your pocket.

This ETF tracks the S&P 500 index, so its holdings match the benchmark. The top five holdings are Nvidia, Apple, Microsoft, Amazon and Alphabet, clearly showing a strong position within the information technology sector. Investors will certainly be exposed to all things related to artificial intelligence.

However, it's worth pointing out that this ETF contains all sectors of the economy. It's essentially a hassle-free method for gaining broad market exposure.

The S&P 500 index today trades at a historically expensive valuation, calling into question the benchmark's return potential. While the phenomenal trailing 10-year total return of 316% might not repeat, I think it still makes sense to invest in the stock market.

TAP INTO THE HUMANOID ROBOTICS BOOM WITH THIS ETF

Profit growth and margins are robust. And the companies leading the charge, some of which were mentioned already, are some of the most dominant businesses the world has ever seen, so they deserve the market's appreciation.

If the current valuation is a real concern for you, then consider adopting a dollar-cost averaging (DCA) strategy. By doing so, you could allocate fresh savings to the market on a monthly or quarterly basis, virtually eliminating the need to accurately assess what the correct starting valuation should be.

And even adding small sums of money to a DCA approach can lead to tremendous long-term results. Let's say you initially invest $10,000 into the Vanguard S&P 500 ETF. But then every single month, you invest $100. Assuming the historical 10% annualized total return holds true, you'd have $382,000 after 30 years. Of course, if you put more money to work, the ending figure will be larger.

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Neil Patel has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia and Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

This sector has dominated ETF returns so far in 2026

Tue, 09 Jun 2026 08:24:40 -0400

So far this year, semiconductors and the physical infrastructure of artificial intelligence (AI) are dominating the exchange-traded fund (ETF) scene. For example, the iShares Semiconductor ETF is up 89% year to date. Given the intense interest – and investments – in AI, this makes sense.

Semiconductors and AI reinforce each other in a tight loop. AI depends on ever more sophisticated chips to run. Now, AI is changing how chips are designed and where they're manufactured. In short, AI is designed to perform tasks that normally require human intelligence, and semiconductors are the physical devices that enable it to do so.

TAP INTO THE HUMANOID ROBOTICS BOOM WITH THIS ETF

Driven by AI and data-center demand, the chip industry is in a powerful upcycle. With large cloud providers spending heavily on AI infrastructure, the entire semiconductor value chain is lifted. Greater demand for central processors, graphics processors, power management, memory and manufacturing equipment is like catnip to investors – so much so that semiconductor revenue reached $298.5 billion in the first quarter of 2026, up a staggering 25% from the fourth quarter of 2025.

As a passively managed ETF, the iShares Semiconductor ETF provides exposure to large-cap and mid-cap companies, primarily through U.S.-listed stocks. It tracks the NYSE Semiconductor Index and currently holds a concentrated basket of 30 stocks.

Top holdings include industry leaders such as Micron Technology, Advanced Micro Devices and Marvell Technology.

WHAT ARE ACTIVE ETFS AND HOW ARE THEY RESHAPING HOW AMERICANS INVEST?

With a reasonable expense ratio of 0.34%, or $34 per $10,000 invested annually, SOXX provides access to a narrowly focused group of sector-specific ETFs.

IDC's April forecast predicted that the semiconductor market will exceed the $1 trillion revenue threshold by the end of this year. However, investing in a semiconductor ETF is not the right move for everyone.

As an investor, it's vital to remember that anything could happen. For example, AI could lose popularity for any number of reasons, from hype fatigue to slower-than-expected adoption or constraints on power and data-center buildouts. Like all technology, semiconductor stocks and ETFs can be volatile, and there's no guarantee that they'll continue to thrive.

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

Before leaping, look past the current hype and make sure you've taken a close enough look under the hood to know precisely what you're buying. If you do choose to put money into a semiconductor ETF, it should be part of a well-diversified portfolio that you intend to hold for the long term.

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Dana George has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Marvell Technology, Micron Technology and iShares Trust - iShares Semiconductor ETF. The Motley Fool has a disclosure policy.

San Francisco voters reject tax hike targeting companies with highly paid executives

Tue, 09 Jun 2026 08:14:39 -0400

San Francisco voters appeared to reject a ballot measure that would have significantly increased taxes on some large companies with highly paid executives, delivering a win for business groups and technology leaders who argued the proposal could hinder the city's economic recovery.

According to results posted by the San Francisco Department of Elections, Measure D was failing with 53.64% of voters opposed and 46.36% in favor. The measure required a simple majority to pass.

Measure D would have expanded San Francisco's existing CEO pay ratio tax, which applies to certain large businesses when a top executive earns more than 100 times the median compensation of workers. The proposal would have changed the formula by comparing executive pay with a company's entire workforce rather than only its San Francisco employees, while also increasing tax rates on affected businesses.

CHATGPT BOOM FUELS A LUXURY HOUSING FRENZY IN BAY AREA

City officials estimated the measure would generate between $250 million and $300 million in annual revenue. Supporters said the proposal would help address income inequality while providing additional funding for city services.

Opponents, including Mayor Daniel Lurie, argued the measure could drive employers away from San Francisco and make the city less competitive as officials work to revive downtown and attract new investment.

The proposal also faced opposition from prominent technology executives, including Google co-founder Sergey Brin, who donated $500,000 to a committee campaigning against the measure.

CALIFORNIA TECH LEADERS CHALLENGE PROGRESSIVE POLICIES AS BILLIONAIRES, BUSINESSES FLEE: REPORT

The outcome adds to a series of election results that suggest San Francisco voters have shifted toward a more centrist approach on economic and governance issues. In recent years, voters recalled former District Attorney Chesa Boudin, removed three school board members and elected Lurie, a moderate Democrat who campaigned on public safety and economic recovery.

The vote comes as San Francisco seeks to capitalize on an artificial intelligence-driven investment boom while continuing to confront concerns about its business climate and the departure of several high-profile companies and entrepreneurs in recent years.

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The defeat of Measure D is likely to be viewed by business advocates as a sign that voters remain focused on economic growth, job creation and efforts to strengthen the city's competitiveness.

FOX Business' Eric Revell contributed to this report.

Kia recalls 6K vehicles due to possible seat belt defect that could raise injury risk

Tue, 09 Jun 2026 00:16:04 -0400

Kia is recalling more than 6,000 vehicles because of a seat belt malfunction that could increase the risk of injury in the event of a crash.

The recall potentially affects 6,264 2027 Kia Telluride and Kia Telluride Hybrid models, according to a notice from the National Highway Traffic Safety Administration. The affected vehicles include 4,367 Telluride Hybrid models manufactured from March 24 through May 12, 2026, and 1,897 gas-powered Telluride models manufactured from March 24 through May 10, 2026.

Kia learned that the "driver seat belt emergency locking retractor (ELR) may lock" when the driver attempts to extend the seat belt webbing in certain Kia Telluride vehicles, preventing the seat belt strap from extending, according to the notice.

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

"An unavailable occupant restraint increases the risk of injury to an unbelted driver in the event of a collision," the notice reads.

The cause of the defect is believed to be connected to an "incorrect vehicle sensor" that was installed in certain driver seat belt assemblies by one of Kia's suppliers. NHTSA said the issue was due to a supplier error.

SUBARU RECALLS NEARLY 70,000 SUVS AFTER MOONROOF PANELS DETACH WHILE DRIVING

Because of this, the vehicles are not in compliance with the requirements of Federal Motor Vehicle Safety Standard No. 209, "Seat Belt Assemblies."

No other Kia vehicles are equipped with the defective retractor. NHTSA’s report estimates that 1% of the recalled vehicles may have the defect.

Vehicle owners affected by the recall will be able to take their cars to a Kia dealer to have dealers replace the seat belt assembly at no cost. Kia’s number for this recall is SC372.

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Owner notification letters are expected to be mailed out on July 31. Vehicle Identification Numbers involved in the recall are expected to become searchable on NHTSA.gov beginning June 16, 2026.

More than 1 million Jeep vehicles recalled over fire risk as owners warned not to park inside

Mon, 08 Jun 2026 20:35:51 -0400

Stellantis is recalling more than 1 million Jeep Wrangler and Gladiator vehicles over a defect that could spark a fire, urging owners to park their vehicles outdoors and away from buildings until a remedy is available.

The recall covers an estimated 1,076,999 model-year 2021–2025 Jeep Wrangler and Gladiator vehicles. In the affected vehicles, an electrical issue involving the wiring for the electric hydraulic power steering pump could cause nearby materials to overheat and potentially ignite, as first reported by the Detroit Free Press and The Detroit News.

"In rare circumstances, this may cause combustible materials to overheat, potentially leading to a vehicle fire," Stellantis spokesperson Frank Matyok said in a statement to FOX Business.

Matyok added that FCA US, the automaker's U.S. operating unit, is advising owners to park affected vehicles away from structures and other vehicles "out of an abundance of caution."

SUBARU RECALLS NEARLY 70,000 SUVS AFTER MOONROOF PANELS DETACH WHILE DRIVING

The automaker said it has not yet finalized a repair but expects a remedy to be available by July.

Once the fix is ready, affected owners will be notified by mail and instructed on how to schedule repairs at their local dealership.

"Affected customers will be notified by first class mail when they can schedule service. FCA US is working diligently to accelerate remedy availability and anticipates a solution no later than July," Matyok said.

FORD ISSUES URGENT ‘DO NOT DRIVE’ ADVISORY FOR BRONCO SPORT, MAVERICK MODELS OVER SUSPENSION DEFECT

Depending on the vehicle, repairs may include inspection and replacement of the wiring harness and electric hydraulic power steering pump.

The recall also extends to an estimated 106,258 vehicles in Canada, 23,704 in Mexico and 124,297 in markets outside North America, according to Maytok.

The latest recall adds to a string of safety issues that have affected Jeep models in recent years.

HONDA RECALLS 99,000 VEHICLES OVER FLAW THAT COULD TRIGGER UNINTENDED AIRBAG DEPLOYMENT

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In late May, Stellantis recalled 419,035 Jeep Grand Cherokee and Grand Cherokee L SUVs over a software defect that could delay side airbag deployment during a crash, increasing the risk of injury, according to The Detroit News.

Wendy's launches Minions & Monsters meal with exclusive collectible toys and a new Banana Frosty Swirl

Mon, 08 Jun 2026 18:32:50 -0400

Wendy's on Monday announced it will be offering a custom Minions & Monsters meal starting later this month that includes limited-time meals and exclusive collectible toys.

The fast food chain's new promotion will spotlight Illumination's Monsters and Minions with the limited-time offerings starting on June 15, ahead of the movie's arrival in theaters on July 1.

It features themed meals for both children and adults, as well as an all-new Banana Frosty Swirl with a sweet banana cream sauce swirled into a Vanilla Frosty base.

WENDY'S TO CLOSE HUNDREDS OF RESTAURANTS AS COMPANY LOOKS TO FOCUS ON VALUE TO BOOST SALES

"The best partnerships start with an understanding of what our fans are passionate about," said Lindsay Radkoski, U.S. chief marketing officer for The Wendy's Company.

She added that, "By bringing together one of the world's most beloved entertainment franchises with Wendy's iconic, high-quality food and customers love, we're creating shared experiences that fans will go bananas for this summer!"

WENDY'S $100K 'CHIEF TASTING OFFICER' CONTEST SPARKS HILARIOUS FAST-FOOD SOCIAL MEDIA SPAT

Wendy's Monsters & Minions adult meal will include the choice of a Big Bacon Classic or a new Spicy Chicken Sandwich, plus a small order of fries and a small Banana Frosty Swirl. It will also contain one of four Wendy's exclusive Minions & Monsters blind box collectibles.

Both the new Frosty and the Monsters & Minions adult meal will be available starting on June 15.

WENDY'S INTRODUCES NEW VALUE MENU WITH 3 PRICE TIERS

The Minions & Monsters kids' meal is available now and offers the choice of 2-piece chicken tenders, 4-piece chicken nuggets, a hamburger or a cheeseburger.

It includes a kid's drink and either a junior-size order of fries or apple bites and one of six exclusive Wendy's Monsters & Minions kids' meal toys that feature the characters James, Henry, Ed, Richard Goomi and Dort.

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Wendy's will also feature two new Coca-Cola Freestyle beverages as part of the Minions & Monsters campaign – a Pineapple Minion MischieFizz and Goomi's Glimey Lime.

Ex-White House ‘AI czar’ warns US could lose AI race to China if Washington overregulates

Mon, 08 Jun 2026 18:07:59 -0400

Former White House "AI czar" David Sacks warned Monday that overregulation of artificial intelligence could erode America’s lead over China in the global race for AI dominance.

"If you try to have an FDA for AI and there are some people who want to go that far, then I think we could lose this AI race to China," he said Monday on "Kudlow." "We're only six to nine months ahead of China. So really, every month counts."

His remarks come after President Donald Trump signed an executive order last week establishing a voluntary framework for AI companies to share certain advanced models with the federal government before wider public release.

Sacks, a longtime Silicon Valley entrepreneur, advocated for a lighter approach to AI regulation and cautioned that adding too many guardrails risks stifling innovation at a critical point in the competition with Beijing.

CHINA RACES AHEAD ON AI —TRUMP WARNS AMERICA CAN'T REGULATE ITSELF INTO DEFEAT

He likened Washington's "tremendous" desire to regulate AI to that of climate change.

"AI has become the new climate change," he argued. "It's this imminent catastrophe that is requiring all this government intervention. But there's very little evidence to support it."

"We're open to evidence – if there's actually a problem, we should do something about it. But I don't think we should do it in this knee-jerk way," he continued.

MORNING GLORY: WHY THE ANGST ABOUT AI?

While Sacks admitted that some frontier AI models – including Anthropic’s Mythos, which he described as an "at the level of a cyber weapon" – present serious cybersecurity concerns, he also cautioned against the "moral panic" surrounding emerging technology.

"There is this panic, almost like a moral panic, around AI," he told host Larry Kudlow. "And I'm just afraid that we might overreact and shoot ourselves in the foot and then hand this incredible technology to China.

Sacks also pushed back on concerns that AI will take jobs from average Americans, pointing to recent labor market strength from a strong May jobs report.

PALANTIR'S SHYAM SANKAR: AMERICANS ARE 'BEING LIED TO' ABOUT AI JOB DISPLACEMENT FEARS

"There's been a lot of claims that AI is gonna create some sort of imminent job apocalypse, but we're seeing the exact opposite right now," the former AI czar argued.

"We just had this gangbuster jobs report in May, something like 172,000 new jobs, twice what all the economists were expecting, and a lot of that is because of AI."

Sacks said a unified federal playbook for AI governance would be preferable to a patchwork, state-by-state regulations that have been guard railing the technology since its emergence.

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"What President Trump has called for is one rulebook. And I think if we can get that, if we work with Congress to work out a compromise, then that would be better than patchwork from the states," he told FOX Business.

Trump is reportedly set to meet with executives from leading AI companies at the White House this week as the administration weighs its next steps on AI policy.

OpenAI signals potential stock market debut while weighing private-company advantages

Mon, 08 Jun 2026 17:55:39 -0400

OpenAI said Monday it has taken a formal step toward a potential stock market debut, signaling that the artificial intelligence company is preparing for the possibility of becoming a publicly traded firm.

The move gives OpenAI flexibility to pursue an initial public offering in the future, though the company indicated no final decision has been made on whether or when shares would begin trading publicly.

"We recently submitted a confidential S-1. We expect it to leak so we're just announcing it," OpenAI said in a statement Monday. "We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."

The company added that the announcement does not constitute an offer to sell securities and that any future offering would be conducted in accordance with federal securities laws.

ANTHROPIC FILES CONFIDENTIALLY FOR IPO

A confidential S-1 filing allows companies to begin the IPO process with the Securities and Exchange Commission without immediately disclosing detailed financial information to the public. The filing is often viewed as an important milestone for companies considering a future public listing.

FOX Business previously reported that OpenAI was targeting a public offering as early as September and had been working with Goldman Sachs and Morgan Stanley on a draft IPO prospectus, according to a Reuters report at the time.

The Sam Altman-led company has emerged as one of the dominant forces in artificial intelligence following the launch of ChatGPT, helping ignite a wave of investment and competition across the technology sector.

BAY AREA BANKER WANTS TO SWAP HIS $8M ESTATE FOR AI COMPANY STOCK

OpenAI has since expanded its lineup of AI products for consumers and businesses while attracting billions of dollars in funding.

Reuters previously reported that OpenAI had been laying the groundwork for a public listing that could value the company at up to $1 trillion, underscoring the enormous investor appetite for AI-related businesses.

AI LEADERS ARGUE SOFTWARE WILL ADAPT – NOT DIE – BUT VALUATIONS ARE STRETCHED

The announcement comes as Wall Street closely watches the next generation of AI companies for signs they may enter public markets.

Earlier this month, rival Anthropic disclosed that it had confidentially filed for a U.S. initial public offering, potentially setting the stage for a high-profile race between two of the industry's biggest players.

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While OpenAI stressed that no timeline has been finalized, Monday's disclosure signals the company is keeping its options open as it weighs the benefits of remaining private against the opportunities that come with a public listing.

FOX Business’ Eric Revell and Reuters contributed to this report.

LARRY KUDLOW: Trump has never ruled out military action, which now looks more likely

Mon, 08 Jun 2026 17:45:01 -0400

As the President patiently works toward a possible surrender deal with Iran, keep in mind two important points: one is no other president in modern history is willing to take on militarily and economically the radical Muslim regime that controls the Iranian government.

Iran has been our enemy for nearly 50 years, they’ve done great harm to us, to Israel, to our allies in the Middle East and elsewhere. They have killed roughly 1,000 American soldiers. They have financed terror attacks that remind of Nazism almost 100 years ago. And in return they declare their hatred for America. They have become a nuclear threat not only with enriched uranium, but also advanced missile development. And Mr. Trump has destroyed them militarily.

The Islamic Revolutionary Guard Corps may have some remaining military resources, but not much. At least 80 percent is gone, and it’ll probably take as much as 20 years or more to restart.

In crippling Iran, Mr. Trump has done humanity a great favor. The second point is during this negotiating process, he Trump has not budged on his red lines. You heard it again in his interviews yesterday on Sunday talk shows. He has not dropped his demand that Iran end all nuclear development. He has not dropped his demand that Iran’s enriched uranium be transferred into American hands or destroyed altogether. He insists that Iran completely open the Strait of Hormuz to free navigation with no controls or tolls whatsoever. And in addition, he has made it clear that no money or financial assistance will be given to Iran.

Asked on Sunday by a reporter whether he would "unfreeze any Iranian assets or lift any sanctions up front as a part of any deal," Mr. Trump replied: "No." "So that would come after?" the reporter asked. Mr. Trump’s response: "Comes after. Yeah. If they behave, if they do their job we stop talking. Yeah."

There’s no $12 billion or $24 billion or $124 billion or other wild Iranian asset estimates for the IRGC. Instead, there’s Treasury Secretary Scott Bessent’s Economic Fury, which includes the naval blockade plus highly aggressive sanctions imposed by the Office of Foreign Asset Control, where all manner of cryptocurrency, offshore bank accounts, villas, or whatever Iranian assets have been either frozen or completely seized.

Mr. Bessent now wants to liquidate those offshore IRGC assets and use them to rebuild our gulf Allies. Good for him. Excellent idea. This is basically economic and financial starvation that is backing up the crushing military blow. Mr. Trump has not ruled out any additional military action. and he has never backed down. Iran may never surrender, but they’ll wish they had.

Meta launches $115M skilled trades academy with guaranteed jobs for graduates in 4 states

Mon, 08 Jun 2026 17:15:49 -0400

Tech giant Meta on Monday announced that it's launching a new academy for workers to receive training in a skilled trade at no cost with a job guaranteed for all graduates.

The parent company of Facebook and Instagram is creating the America's Workforce Academy (AWA) with an initial investment of $115 million in the program's first year. It will start with pilot locations in Louisiana, Ohio, Indiana and Texas this year.

Graduates of the program will receive a National Center for Construction Education and Research (NCCER) credential as well as an America's Workforce Certificate – both of which are designed to travel with the worker across employers and industry sectors.

"The AI revolution is bringing change but also historic opportunities. Skilled workers electrified rural America one pole at a time. They manned the factories that built the arsenal that won World War II. Now a new generation will pour the foundations and lay the fiber that secures American strength in this new age," said Dina Powell McCormick, Meta president and vice-chairman.

META LAYS OFF NEARLY 1,400 WASHINGTON EMPLOYEES IN LATEST TECH WORKFORCE CUT

"We can't create the infrastructure that we need if we don't have the electricians, the fiber technicians … " she said during a Tuesday morning appearance on Fox Business Networks "Mornings with Maria."

Meta said in its announcement that this initiative is the largest private-sector commitment to the skilled trades with a job guarantee in U.S. history. The move comes amid a shortage of workers in the skilled trades that is being exacerbated by the rapid buildout of infrastructure and artificial intelligence (AI) data centers.

Rachel Peterson, vice president of data centers at Meta, said: "The AI infrastructure we're building today requires an incredible workforce to make it a reality."

"America's Workforce Academy is our commitment to building that workforce with the same ambition and long-term thinking we bring to the technology itself. America needs hundreds of thousands of skilled tradespeople — electricians, mechanics, fiber technicians and more — and this program creates clear, accessible pathways into those careers," Peterson added.

ZUCKERBERG SAYS META LAYOFFS TIED TO AI SPENDING, WON'T RULE OUT FUTURE CUTS

Mike Rowe, CEO of the mikeroweWORKS Foundation, said that the new initiative will help encourage more Americans to pursue careers in the skilled trades while also revolutionizing the way those workers are trained.

"Closing America's skills gap requires us to not only make a more persuasive case for the skilled trades in general, it requires us to completely rethink the way we train the next generation of skilled workers. America’s Workforce Academy does both," he explained.

"Workers are actually paid to learn. There is zero cost to them, no college debt and a fast certification, with a guaranteed job on the other end. This is an important step in the right direction, and one that I hope other companies will be inspired to take," Rowe added.

META SHIFTS 7,000 WORKERS INTO AI ROLES AS LAYOFFS, MANAGER CUTS LOOM

Meta is partnering with the National Urban League, the Associated Builders and Contractors and CBRE in the initiative.

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Several community partners around the country include the U.S. Hispanic Chamber of Commerce, STRIVE, Boone County Economic Development Corporation in Indiana, the Richland Parish Chamber of Commerce in Louisiana, Workforce Solutions Borderplex in Texas, and the Ohio Chamber of Commerce.

Fox News Digital's Alex Nitzberg contributed to this report

AI remains top reason for US job cuts for third straight month as employers axed 97,000 workers in May

Mon, 08 Jun 2026 16:40:04 -0400

U.S. employers ramped up layoffs in May as the artificial intelligence (AI) rollout was the leading factor cited by companies cutting their workforces, new data shows.

Companies announced 97,006 job cuts in May – an increase of 16% from the 83,387 cuts in April and an increase of 3% from the 93,816 cuts announced last May, according to a recent report by global outplacement and executive coaching firm Challenger, Gray & Christmas.

AI was the leading reason cited for job cuts for the third consecutive month, with 38,579 cuts attributed to AI. It's the highest monthly total for the reason since Challenger began tracking it in 2023 and accounted for 40% of all the job cuts announced in May.

"The labor market is being reshaped by technology in real time. AI is now the leading reason companies give for cutting jobs and the primary industry citing it is technology," said Andy Challenger, labor and workplace expert and chief revenue officer of Challenger, Gray & Christmas.

US ECONOMY ADDED 172,000 JOBS IN MAY, BEATING EXPECTATIONS

The tech sector announced 38,242 job cuts in May – the highest for the sector since August 2024. In 2026 so far, tech firms have announced 123,653 cuts, which is an increase of 66% from the same period in 2025, and it leads other sectors in job cuts this year by a wide margin.

"AI isn't yet the jobpocalypse some predicted. Like spreadsheets and email before it, the technology will ultimately make workers more productive, but our data shows companies are already acting on it, citing AI for more cuts than any other reason," Challenger explained.

"The open question isn't whether AI changes the workforce, but how fast," he added.

WORKERS FACE GROWING 'AUTOMATION ANXIETY' AS TECH LAYOFFS SURGE, AI ADOPTION ACCELERATES

The transportation sector announced the second-most job cuts in May with 6,909 cuts, bringing the 2026 total to 40,388 and an increase of 449% from the same period a year ago.

Services firms cut 6,268 jobs in May to bring the sector's 2026 total to 17,065 – a decrease of 61% from the same period last year.

Healthcare and products manufacturers have also announced 30,414 job cuts so far this year, which represents a 17% increase from the same period a year ago.

INFLATION IS SQUEEZING AMERICAN CONSUMERS AND THE FED'S LATEST REPORT SHOWS IT'S GETTING WORSE

Bankruptcy-related layoffs were the second-leading reason cited for job cuts, accounting for 5,637 in May. That's the most bankruptcy-linked layoffs since February 2025 when 35,172 were announced.

Market and economic conditions have been cited for 69,645 cuts in 2026 so far, while closings accounted for 66,733 and mergers and acquisitions were attributed to another 11,989 in that period. The number of job cuts linked to mergers and acquisitions is up more than six-fold from the 1,889 attributed to that reason in the same period last year.

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"On top of the headline AI story, we're seeing a sharp rise in cuts tied to mergers and acquisitions and a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy," Challenger said.

Americans grow more pessimistic about finances as rent and food cost fears surge, Fed says

Mon, 08 Jun 2026 15:21:21 -0400

Americans are increasingly reaching a breaking point regarding their household finances.

Despite hopes for a soft landing after years of elevated inflation, consumer pessimism has reached some of its worst levels in years, according to the Federal Reserve Bank of New York's monthly Survey of Consumer Expectations released Monday.

The percentage of U.S. households that reported being "much worse off" financially than a year ago rose to 13.3% in May, up more than 2 percentage points from April and the highest reading since July 2022.

Additionally, 36% of Americans expect their financial situations to deteriorate further over the coming year, while fewer than 23% expect improvement, resulting in the lowest net optimism since October 2022.

TOP CEOs BRACE FOR DOWNTURN, WARN U.S. ECONOMY WILL WORSEN IN NEXT 6 MONTHS

While overall inflation expectations remained largely unchanged, respondents expected higher costs ahead, including a 5.8% increase in food prices and a 7.4% rise in rent over the next year.

The latest Fed survey aligns with the Federal Reserve's most recent Beige Book, which summarizes economic conditions across the Fed's 12 regional districts. Prices "increased at a moderate to strong pace overall, with most Districts reporting higher inflation from the previous report," according to the Fed's national summary.

"Districts noted that energy-related costs tied to the conflict in the Middle East were the primary driver of inflationary pressures, with spillovers into shipping, packaging, groceries, and fertilizer," the report added, with the Cleveland Fed noting increased fuel surcharges.

Consumer concerns were also evident in the labor market, with respondents reporting that their confidence in finding a new job if they lost their current one fell to its lowest level since December 2025. Less than half of workers (43.7%) said they believed they would be able to find a replacement job if laid off.

"Labor market expectations deteriorated somewhat with an increase in layoff expectations and a decline in job finding expectations," the New York Fed said in its release.

However, the Bureau of Labor Statistics reported Friday that employers added 172,000 jobs in May, topping economists' estimates, with unemployment holding steady at 4.3%.

Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management, called the May jobs report a "Payroll Blowout!" and added: "We've gained more and more confidence in the last prints that the Fed doesn't have to be worried about the labor market. Laser focused on inflation and it will all come down to the duration of this war to determine the Fed's next move. For now, the move is to not move: HOLD."

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The consumer report also showed that more than 1 in 8 Americans (12.6%) believe they may miss a minimum debt payment over the next 90 days. The increase was driven "mostly" by respondents with at least a high school education and households earning less than $100,000 annually.

Retired Americans older than 60 and workers earning less than $50,000 annually also reported lower spending-growth expectations.

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FOX Business’ Eric Revell contributed to this report.

McDonald's worker allegedly doused with hot cooking oil by co-worker, suffers burns over 22% of his body

Mon, 08 Jun 2026 14:00:22 -0400

A 20-year-old McDonald's worker in Northern California is facing multiple surgeries after a co-worker allegedly hurled hot cooking oil at him, leaving him with severe second-degree burns across nearly a quarter of his body, according to his mother.

Jacob Smith was working as a shift manager at a McDonald's in Yuba City when the shocking attack unfolded, his mother, Amber Smith, wrote in a GoFundMe post to raise money for her son’s medical expenses.

"He was in the office getting ready to count the money when he saw out of the corner of his eye something, and he just turned, and the oil was just thrown on him," she told KCRA.

Jacob suffered "severe second-degree burns" over roughly 22% of his body — including to his face, neck, right arm and back — and was admitted to the intensive care unit, where his pain has been so severe that doctors have limited options for additional medication, according to his mother.

FLORIDA MCDONALD'S WORKER ASSAULTS TEEN OVER DIPPING SAUCE FROM BEHIND COUNTER: AFFIDAVIT

"The pain he's experiencing is so excruciating that they can't give him a level of pain medicine outside of the ICU," she told the outlet.

Police identified the suspect as 23-year-old Jalani Bluett, a fellow McDonald's employee who allegedly left the restaurant before officers arrived. Authorities later located and arrested Bluett after seeking the public's help in finding him.

At the time Bluett was being sought, the Sutter County Sheriff's Office said he is "at risk due to a diagnosis and vulnerabilities."

MCDONALD'S CUSTOMER LAUNCHES FLYING KICK AT EMPLOYEE DURING HEATED RESTAURANT BRAWL

During Bluett's arraignment, Yuba City Police Lt. Michael Bullard told KXTV that the suspect was being held on charges including assault with a deadly weapon, mayhem and serious felony assault resulting in great bodily injury. He is being held in Sutter County without bail.

Amber Smith said her son is scheduled to undergo skin graft surgery because some of the burns are particularly deep.

Despite the ordeal, Jacob has remained remarkably upbeat.

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"As much as I want to be angry, or want to hate people and be scared of people, it's just so hard to be when I have so many people showing their love for me," he wrote in a message shared on the fundraiser page. "I'm not sad, and I'm not angry, and the pain doesn't cause me grief because I know it's necessary to heal."

He also thanked his family, friends and faith for helping him through the recovery process, writing, "Thank you to God for saving my eye and giving me awesome family and friends."

Convicted FTX founder Sam Bankman-Fried insists he's innocent in exclusive prison interview

Mon, 08 Jun 2026 13:25:38 -0400

Sam Bankman-Fried, the former cryptocurrency billionaire serving a 25-year sentence for fraud tied to the 2022 collapse of his FTX exchange, says he would welcome a pardon from President Donald Trump — but insists he has not lobbied the White House for one.

"It would be obviously, you know, ultimately up to the president, not up to me," Bankman-Fried told FOX Business in an exclusive interview from prison. Asked directly whether he wanted a pardon, he didn’t hesitate: "Absolutely."

The FTX founder said he has not personally been in contact with the White House or anyone connected to the president. Asked whether his parents or others had reached out on his behalf, he said, "I can’t speak for them."

FOX Business has reviewed a pardon application filed on Bankman-Fried’s behalf. As it stands, the application seeks clemency only after he finishes serving his sentence.

DEAL-MAKING CLEMENCY: INSIDE TRUMP’S MOST DISPUTED PARDONS OF 2025

The White House, asked for comment, directed FOX Business back to the president’s previous statements that he was not considering a pardon for Bankman-Fried.

More than three years after his arrest, Bankman-Fried continues to insist he is innocent. He is appealing his conviction, with a decision pending before the Second Circuit Court of Appeals.

"I didn’t steal user funds," he said. "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."

TRUMP CRYPTO CHIEF SAYS WE ARE IN THE 'GOLDEN AGE' FOR DIGITAL ASSETS, 'CLEARING THE DECK' OF BIDEN BARRIERS

Those assertions require context. Bankman-Fried was convicted in 2023 on seven counts — including wire fraud and conspiracy to commit money laundering — for diverting billions of dollars in FTX customer funds, and was sentenced to 25 years in 2024.

The FTX bankruptcy estate has said customers are being repaid in full, with reported recoveries of roughly 118% and higher for some classes of claims. But those repayments were calculated using cryptocurrency prices from November 2022, when the market was near its lows. Customers received cash based on those depressed values rather than their original crypto, and did not capture the market’s subsequent rebound. The estate’s reported recovery figures are also lower than the 170% Bankman-Fried cited.

"Ultimately, customers have been repaid again nearly twice what they had on the platform, and it’s a great disservice to them that it has taken three years," he added.

The question of clemency has split those who followed the FTX collapse.

Adam Moskowitz, an attorney who represented FTX victims, told FOX Business he would not stand in the way. "I would not oppose granting Sam a pardon," he said, noting that as co-lead counsel for hundreds of thousands of FTX victims, "one of the first defendants to offer to help out victims was Mr. Bankman-Fried."

SAM BANKMAN-FRIED SAYS HE 'ABSOLUTELY' WANTS A PRESIDENTIAL PARDON FROM INSIDE HIS FEDERAL PRISON CELL

Others are firmly opposed. Sen. Bernie Moreno, R-Ohio, who sits on the Senate Banking Committee, told Politico that Bankman-Fried "shouldn’t be pardoned" and "should go to jail for a long, long time."

Bankman-Fried described a prison routine of reading, exercise and "other boring activities." "I’ve read a number of books since I’ve been in prison," he said. "You know, I exercise some. Obviously, there’s sleep, shower … daily things like that. And frankly, that’s the bulk of it."

He has also picked up an unlikely supporter. On his new album "Iceman," rapper Drake name-checks Bankman-Fried in a lyric that fans have read as a call to free the imprisoned founder.

Bankman-Fried said he was caught off guard. "I’m very flattered. I appreciate it very much," he said. "Obviously Drake gives some clues in the song itself, but … that’s a question. Unfortunately, I don’t know how to answer for him."

The two, Bankman-Fried said, have never met.

Hibbett Sports owner plans to close 175 underperforming stores in major North American reorganization

Mon, 08 Jun 2026 12:12:00 -0400

Hibbett Sports will close 175 stores around the U.S. over the next three years as its parent company, JD Sports, looks to reorganize its footprint.

JD Sports acquired Hibbett in 2024 in a deal valued at around $1.1 billion, with the acquisition viewed as enhancing JD's presence in the North American footwear market. Hibbett had 1,169 stores in 36 states as of May 2024, according to the press release for the deal.

Now, the company is moving to reduce its store count as part of a cost-cutting strategy.

JD Sports CEO Regis Schultz said on the company's fourth quarter earnings call that its "second key strategic initiative is driving store productivity and optimization of our store estate. Our net store movement last year was a reduction of 39 stores, demonstrating our fewer, bigger, and better store strategy."

"In North America, we will leverage group best practice to optimize EBIT store footprint and profitability. As part of this, we will close around 170 underperforming EBIT stores over the next three years," Schultz added.

JD said that at the start of its fiscal year in February 2025, there were 999 Hibbett stores and that figure declined to a total of 982 when its fiscal year ended in January 2026 as the group consolidated its operations after the Hibbett acquisition.

JOANN, MACY'S, OTHER STORE CLOSURES PART OF A 274% SPIKE IN RETAIL LAYOFFS IN 2025

JD's CFO Dominic Platt added that the group is planning to open about 20 new JD stores as well as converting between 70 to 80 Finish Line stores to JD locations in North America.

After factoring in JD Sports' plans in Europe, the group expects its total store count to "stay broadly flat for the year," Platt said.

JD Sports' stock is down about 1.7% year to date and is around 1.8% higher over the last year.

DICK'S SPORTING GOODS PLANS TO CLOSE SOME FOOT LOCKER STORES

The news comes as Hibbett's retail footwear rival, Foot Locker, announced store closure plans last November following its $2.4 billion acquisition by Dick's Sporting Goods in September 2025.

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The company didn't specify how many Foot Locker locations would close, though nine Dick's locations closed in 2025, along with about 11 Foot Locker-owned stores and four licensed stores.

Tom Brady launches Good Nut coconut water line with Gopuff in market expected to reach $11B by 2030

Mon, 08 Jun 2026 09:30:15 -0400

Legendary NFL quarterback Tom Brady’s latest business venture is hitting the beverage shelves in a market expected to reach $11 billion by 2030.

Brady, as part of his latest partnership expansion with Gopuff, announced the launch of Good Nut, a premium line of organic coconut water, on Monday.

With consumers conscious of seeking less processed, lower-sugar beverages today, the market for coconut water continues to rise. Gopuff, the instant commerce leader, identified that customers were buying coconut water, with sales surging at 115% year-over-year on its platform.

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As a result, Brady and Gopuff are capitalizing on the shift.

"Gopuff has a unique ability to understand what consumers want and get great products into their hands in minutes," Brady said in an exclusive statement to Fox Business. "We had a great experience working together on GOAT Gummies, and that trust made it easy to team up again on Good Nut. From product development to launch, we've been aligned on creating something Gopuff customers would actually want to drink."

TOM BRADY JOINS GOPUFF, INSTANT COMMERCE LEADER, IN MULTIYEAR STRATEGIC PARTNERSHIP

Brady has always been one to think about everything that goes into his body, making coconut water something he aligned with quickly. In fact, the idea began because chocolate coconut water is a staple in the Brady household.

"It’s something I’ve enjoyed for years, and hydration has always been an important part of my routine, during my playing career and still today," he said.

"Hydration has always been a big part of my routine, and while coconut water has been a staple for me, I knew we could take it to a completely different level by teaming up with Gopuff. With Good Nut, we focused on keeping the ingredients simple and clean, making sure it’s exactly what I’d want in my own fridge."

Good Nut uses organic Vietnamese coconuts, delivering a clean, refreshing hydration experience in its 11.8-ounce can. And it also comes in three variations – original, chocolate and sparkling.

"We quickly realized there was an opportunity to shake up the category with a product that tastes incredible, uses great ingredients, and has a bold brand that gets people talking," Tyler Stewart, head of marketing at Gopuff, said in a statement. "Blending premium products with brands that are playful, unexpected, and don’t take themselves too seriously has become a huge part of how we build together with Tom.

"Whether it’s GOAT Gummies, our lobbying campaign with Super Monday Off, or now Good Nut, we’re always trying to give our customers and fans more of what they want, and of course entertain them a little along the way."

As Brady said in a statement to Fox Business, "One of the most rewarding parts of this chapter of my life has been building brands from the ground up." Brady already worked with Gopuff on GOAT Gummies, an organic, vegan snack brand crafted in France that contains no artificial sweeteners, dyes, or flavors, while being made with real fruit.

Now, Brady continues his brand-building post-playing career with yet another health-conscious consumer product.

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"With Good Nut, we wanted to create something fun that people would genuinely enjoy. It’s been exciting to bring that vision to life," he said.

Good Nut is available exclusively on Gopuff at $3.29 per can, with discounted pricing of $2.96 per can for FAM members on the platform.

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Sam Bankman-Fried says he 'absolutely' wants a presidential pardon from inside his federal prison cell

Mon, 08 Jun 2026 09:17:13 -0400

From inside a federal prison cell, disgraced crypto mogul Sam Bankman-Fried is making a bid for a White House lifeline.

Speaking exclusively to FOX Business correspondent Susan Li, the convicted FTX founder said he "absolutely" wants a presidential pardon, while declining to say whether his family is currently lobbying the administration on his behalf.

"I assume that you would want a pardon from the White House?" Li asked Bankman-Fried over the phone.

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

JAMIE DIMON CALLS COINBASE C.E.O. ‘FULL OF S--T,’ VOWS TO FIGHT CRYPTO-FRIENDLY BILL IN CONGRESS

"But have, say, your parents or anyone that you've been in contact with at all?" Li asked.

"I can't speak for them," Bankman-Fried said.

In March 2024, the former crypto king was sentenced to 25 years in prison after he was found guilty on two counts of wire fraud and five counts of conspiracy following the collapse of his crypto empire FTX in November 2022. The court also found that FTX customers lost $8 billion, FTX's equity investors lost $1.7 billion, and lenders to the Alameda Research hedge fund Bankman-Fried founded lost $1.3 billion.

Despite his conviction, Bankman-Fried continued to argue that his prosecution was unjust, pointing to the fact that bankruptcy payouts have increased due in part to the recovery in cryptocurrency markets.

"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]."

"I can only tell you what I think and, you know, ultimately, customers have been repaid again nearly twice what they had on the platform," Bankman-Fried said, "and it's a great disservice to them that it has taken three years."

Bankman-Fried also said he regrets missing out on the artificial intelligence boom and praised Elon Musk's business acumen.

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When asked about his fear of missing out, Bankman-Fried said: "It's a concern I have. You know, there's a lot that I did try and position, you know, obviously as a platform towards the future, but my venture fund as well, and to try and play a role in that. I'd certainly much rather be, you know, able to help that out from the outside than in here where there's very little I can do."

"I think SpaceX has extremely large potential," he said. "There are some parallels here where… frankly, there are very few companies that are well positioned to play a large role in the space industry. It's one of those very few companies and I foresee it having an extremely large amount of upside, you know, even from where it is today, let alone where it was when we invested. And, you know, very few people have been able to grow companies like Elon has."

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Gas-X capsules recalled over potential chemical contamination due to leaky machine: FDA

Sun, 07 Jun 2026 22:41:45 -0400

Gas-X capsules sold across the country are being recalled over potential chemical contamination because of a machine leakage during packaging, according to the Food and Drug Administration.

Haleon issued a voluntary recall last week after discovering that the medication may have been contaminated with a coolant when a machine leaked during packaging.

"The lots are being recalled due to potential contamination with a diluted propylene glycol-based coolant from a machine leakage during the packaging process," the company's announcement reads.

The recall affects four lots of 125 mg Gas-X Extra Strength Softgels in pill bottles of 120 ct. and 72 ct.

SPACE HEATERS SOLD AT COSTCO, OTHER MAJOR RETAILERS FOR YEARS RECALLED OVER FIRE HAZARD

The company said 120 ct. bottles with lot numbers TL8K, YH9X and YH9Y and 72 ct. bottles with lot number X78N are impacted by the recall. These affected products all have an expiration date of Nov. 30, 2028.

The impacted capsules were distributed on or around April 13.

The ingestion of the Softgels contaminated with the coolant could lead to adverse events such as nausea, vomiting, abdominal pain and diarrhea, the company warned.

Haleon said it has not received any reports of adverse events in connection with this recall. Anyone who has experienced problems that may be related to taking this product should contact their physician or healthcare provider.

Gas-X Softgels are typically taken to quickly break up gas bubbles in the digestive tract and relieve pressure, bloating, and discomfort. The green capsules are packaged in boxes with green, blue and gray bands.

Haleon is notifying its distributors and customers by letter, email and phone. The company is arranging for the return of all recalled products.

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Customers who purchased products matching the lot numbers are urged to stop taking the pills immediately and contact the company for a return and reimbursement.

"Consumer safety and product quality are our utmost priorities at Haleon. The root cause of the contamination has been identified and repaired. Corrective and preventative actions have been implemented to prevent future recurrence," the company said.

Haleon is also the maker of other popular medicines, including Advil, Theraflu and Tums.

Costco quietly rolls back prices on popular Kirkland products in member-friendly move

Sun, 07 Jun 2026 21:27:31 -0400

Costco has quietly lowered prices on several popular Kirkland Signature items, including products shoppers had previously flagged online as increasingly expensive.

During the company’s most recent earnings call on May 28, executives said the price cuts impacted at least four of its key private-label items, marking a potential relief for consumers as inflation has remained elevated in recent years.

The affected products saw price reductions ranging from roughly $1 to $10 across categories spanning food, home goods and sporting equipment, CFO Gary Millerchip said during the third-quarter 2026 call.

The KS Crispy Wings fell from $16.99 to $14.99. KS Milk Chocolate Almonds dropped from $19.99 to $18.99. KS Golf Balls declined from $32.99 to $29.99, while KS King Size Sheets were reduced from $89.99 to $79.99.

COSTCO REVEALS KIRKLAND SIGNATURE ITEM PRICE CUTS

The wholesale warehouse said the decision was aimed at offering members maximum value while continuing to undercut competitors, as part of its broader pricing strategy.

"Our goal is to be the first to lower prices and last to raise them," CEO Ron Vachris said.

Millerchip reinforced that approach, adding: "Our goal is to be the first to lower prices where we see opportunities to do so."

According to social media users, shoppers who have long favored Kirkland’s chocolate-covered almonds said the item has become noticeably more expensive over the years in both the U.S. and Canada.

"They’ve become too expensive," one U.S. shopper wrote on Reddit a year ago.

"I love the Kirkland brand 1.5 kg chocolate covered almonds," another Costco shopper in Canada said a year ago. "They used to be $17 then they went to $20. Now they are $27!! "

SPACE HEATERS SOLD AT COSTCO, OTHER MAJOR RETAILERS FOR YEARS RECALLED OVER FIRE HAZARD

Costco Wholesale did not specify what prompted the latest price cuts, but the move follows a previous instance over a year ago when the retailer voluntarily lowered prices on select Kirkland Signature products.

In 2024, the price of KS macadamia nuts fell from $18.99 to $13.99, Spanish olive oil 3-liter from $38.99 to $34.99, standard foil from $31.99 to $29.99, laundry packs from $19.99 to $18.99, and the baguette two-pack from $5.99 to $4.99, Millerchip previously said.

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Millerchip added that KS boneless chicken tenders also fell by 13%, resulting in a 21% increase in pounds sold.

"Kirkland Signature offers significant member value compared to the national brands and continues to grow at a faster pace than our business as a whole," Millerchip said.

Fox News Digital's Greg Norman contributed to this report.

NASA astronauts could soon wear Prada as luxury label unveils new gear for Artemis IV

Sun, 07 Jun 2026 19:16:02 -0400

Italian fashion house Prada and Axiom Space have unveiled a jointly developed next-generation lunar spacesuit layer scheduled to be worn during NASA’s upcoming Artemis IV moon landing mission, currently targeted for early 2028.

The Houston-based space infrastructure developer announced Sunday that the liquid cooling and ventilation garment (LCVG) will act as an inner layer of the spacesuit and will protect astronauts "when they explore the lunar surface for the first time in more than 50 years."

The partnership marks the first time a luxury fashion brand has been directly involved in spacesuit development.

"The future of space exploration will not be built by any one entity alone, and our partnership with Prada is proof of that," Axiom Space CEO Dr. Jonathan Cirtain said.

PRADA PARTNERS TO MAKE SPACESUITS FOR NASA'S ARTEMIS III LUNAR MISSION

Prada reportedly contributed its expertise in advanced 3D modeling, high-tech knitting and specialized fabrics to help design the garment.

"By bringing together the best in both aerospace engineering as well as luxury craftmanship and advanced product development, we have developed a garment that neither company could have created independently, and that is exactly the kind of cross-industry thinking that will define the next era of human spaceflight," Cirtain added.

Axiom said the garment is designed to be thermally regulating and comfortable enough to support spacewalks lasting up to eight hours, while also withstanding the harsh conditions of the lunar South Pole.

"It manages their thermal environment, supports their breathing, and does it all while they're pushing their bodies to the limit," Axiom Space Senior Vice President of Spacecraft Development Russell Ralston said. "The work we have done with Prada has taken that capability to a level we could not have achieved alone."

NASA ANNOUNCES THREE NEW MOON MISSIONS AS AGENCY RACES TO BUILD PERMANENT LUNAR BASE BY END OF 2026

According to the announcement, the LCVG pumps cold water through a network of tubes positioned over major muscle groups to draw heat away from the body and release it into space. It also includes a backup cooling system in case the primary system fails.

The garment also features a separate ventilation system that continuously circulates oxygen across the astronaut’s face, removing exhaled carbon dioxide, which is then routed into a life-support system for filtering and reuse.

The inner layer is designed to be worn directly against the skin beneath the suit’s outer protective AxEMU shell, which the companies previously unveiled in 2024.

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"When we unveiled the AxEMU, we announced that the collaboration between Prada and Axiom Space would continue beyond that first milestone," Prada Group Chief Marketing Officer and Head of Sustainability Lorenzo Bertelli said.

"Today, we are proud to present a new achievement born from the unique combination of Axiom Space’s pioneering expertise and Prada’s know-how in design, patternmaking, and advanced materials, ahead of humanity’s return to the lunar surface," he continued. "We look forward to continuing this collaboration with Axiom Space, pushing boundaries and exploring new frontiers together."

Walmart CEO says lower-income shoppers showing 'signs of stress' as fuel costs squeeze household budgets

Sun, 07 Jun 2026 18:02:49 -0400

Walmart CEO John Furner said Wednesday that rising fuel costs are placing increasing pressure on consumers, with lower-income households showing growing signs of financial strain.

Speaking to reporters during Walmart’s shareholder week in Bentonville, Arkansas, Furner said the retailer continues to attract higher-income shoppers, who are visiting stores more frequently and spending more. At the same time, Walmart is seeing evidence that lower-income customers are becoming more cautious with their spending.

"We do continue to see the higher-income customers coming to Walmart," Furner said. "We're meeting more of them, they're buying more, they're coming more frequently. … And then we've seen some more signs of stress at the lower income levels."

One indicator comes from Walmart-owned Sam's Club. According to Furner, Sam's Club members are averaging about 9.8 gallons per fuel purchase, while filling up more often, suggesting shoppers are managing their budgets as gas prices remain elevated.

"That's really the stress point — is the price of fuel," Furner said.

Despite those challenges, Furner said Walmart remains well-positioned to serve customers through its broad merchandise assortment and low-price strategy.

"Walmart's set up really well in any kind of economy," he noted.

WALMART LAUNCHES HARDWARE OVERHAUL, NEW KIDS BRAND IN PRIVATE-LABEL PUSH

During the most recent quarter, the retailer rolled back prices on roughly 7,200 items, an increase from a year ago.

"I think we've done a really good job keeping our prices low in the quarter," Furner said. "We had 7,200 rollbacks, that's up from a year ago. We did that while maintaining and growing our gross margin."

The comments came during Walmart's annual shareholder week, which draws executives, investors and media to Northwest Arkansas each year.

U.S. consumer confidence dipped slightly in May as concerns about rising gas prices and inflation outweighed growing optimism about the labor market, according to Reuters. The reading, however, came in above economists’ expectations, providing some balance to the otherwise cautious consumer outlook.

WALMART WARNS SHOPPERS COULD FACE HIGHER PRICES AS FUEL COSTS SURGE, TAX REFUNDS DRY UP

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Last month, Walmart warned that higher fuel costs could add pressure on shoppers, particularly as the temporary boost from tax refunds fades and inflation continues to outpace wage growth.

"I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices," Walmart CFO John David Rainey told CNBC following the company's first-quarter earnings report.

"It’s something that we’re keeping a close eye on," he added.

FOX Business' Kristen Altus and Reuters contributed to this report.

American Airlines reportedly pauses 6 domestic routes amid fuel price pressure tied to Iran conflict

Sun, 07 Jun 2026 17:20:27 -0400

American Airlines is temporarily suspending six domestic routes this summer as elevated fuel costs linked to the Iran conflict continue to pressure carriers across the airline industry.

The major air carrier said the affected routes will be paused only during August and September and emphasized that no routes are being eliminated permanently, according to FOX 5 New York.

A separate report from Simple Flying said the routes will be out of service from Aug. 5 through Oct. 5.

"American has seasonally adjusted service on select routes in August and September as the airline refines its capacity growth for 2026," American said.

AMERICAN AIRLINES JOINS WAVE OF CARRIERS HIKING CHECKED BAG FEES AS JET FUEL PRICES SKYROCKET

According to Simple Flying, the affected routes include:

Simple Flying noted that the Los Angeles-to-Cleveland route was one of the newest additions to American's network, having launched in April. The suspension announcement comes just after two months of service.

Passengers affected by the schedule changes will be offered alternative travel arrangements or refunds, FOX 5 reported.

"Travelers on impacted routes will be offered alternate travel arrangements or a refund in line with American’s customer-friendly schedule change policy," the airline said.

UNITED AIRLINES RAISING TICKET PRICES UP TO 20% AS FUEL COSTS SURGE AMID IRAN WAR

American previously announced in April that it would raise checked baggage fees by at least $10 as the airline grapples with rising jet fuel costs, mirroring similar moves by other carriers, including United, Delta, Southwest and JetBlue.

Since fighting in the Middle East intensified earlier this year, airlines across the industry have implemented a range of cost-cutting measures amid volatile fuel prices, including reducing flight schedules and raising fares to offset higher operating expenses.

UNITED AIRLINES SLASHES FLIGHTS AS IRAN WAR SENDS FUEL PRICES SOARING

Last month, United Airlines released a staff memo announcing plans to cut about 5% of capacity by trimming less profitable routes, citing an expected prolonged period of elevated fuel prices.

In April, United also said it had been incrementally raising fares — up to 20% since last year — in an effort to "recover 100% of the increase in jet fuel prices as quickly as possible."

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American's decision to suspend select routes also follows the collapse of budget carrier Spirit Airlines, whose financial troubles were compounded by years of mounting losses and higher fuel costs.

Fox News Digital reached out to American Airlines for more information.

Fox News Digital's Eric Revell and Michael Dorgan contributed to this report.

Space heaters sold at Costco, other major retailers for years recalled over fire hazard

Sun, 07 Jun 2026 13:19:46 -0400

Hundreds of thousands of space heaters sold at Costco and other major retailers for years are being recalled after reports that the units overheated and caught fire, prompting federal safety officials to warn consumers to stop using them immediately.

The Consumer Product Safety Commission (CPSC) announced Wednesday that more than 255,000 Vornado tower heaters have been recalled.

The agency said the heater's fan blade can detach from the motor shaft, causing the unit to overheat and potentially ignite. Vornado has received 32 reports of overheating, including eight fires and one smoke inhalation incident, according to the agency.

Costco sent a letter to its members that the recalled Vornado SRTH small room tower heater was sold between August 2013 and January 2017 with the item number 1002889 (UPC 43765008478).

FROZEN FOOD ITEM SOLD AT COSTCO RECALLED OVER SALMONELLA CONCERN

"The fan blade can detach from the motor shaft, which can cause a stopped fan condition, leading to overheating and melting of the enclosure and internal parts," the wholesaler said. "Melted internal parts can ignite and breach the enclosure if the thermal cut off or fuse does not timely activate, posing a fire hazard."

OVER 2 MILLION PRESSURE COOKERS RECALLED AFTER DOZENS OF CONSUMERS SUFFER INJURIES

The recalled space heaters were also sold at Kohl’s, Bed Bath & Beyond and ACE Hardware, and online at Vornado.com and Amazon.com, from August 2013 through May 2026 for between $40 and $50, the CPSC said.

The agency said the heaters were manufactured in China.

Both Costco and the CPSC urged consumers to stop using the product immediately and contact the Vornado Recall Team at 888-240-2768.

Popular product sold at Target recalled due to contamination concerns

Sat, 06 Jun 2026 16:32:27 -0400

Target is recalling several Up & Up baby wipes products sold nationwide after testing identified potentially dangerous bacteria that could cause serious infections, particularly in infants and young children.

According to a recall notice posted Friday by the U.S. Food and Drug Administration (FDA), Target is voluntarily recalling certain lots of Up & Up Fragrance Free Baby Wipes and Up & Up Fresh Cucumber Scented Baby Wipes following customer complaints about product discoloration.

"We care deeply about the safety of our guests and our products. Out of an abundance of caution, Target has voluntarily recalled Up&Up Fragrance Free Baby Wipes and Up&Up Fresh Cucumber Baby Wipes," a Target spokesperson told FOX Business.

FDA testing identified the presence of Burkholderia cepacia complex and Burkholderia gladioli in samples of the affected wipes.

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Health officials warned that products contaminated with the bacteria could lead to serious and potentially life-threatening infections. The wipes are primarily used on newborns, infants and young children, a group considered particularly vulnerable because of their developing immune systems.

The FDA said healthy individuals who use the contaminated wipes on skin with minor cuts or abrasions may develop localized infections. However, infections in immunocompromised individuals, newborns and infants could spread into the bloodstream and potentially cause sepsis or pneumonia.

The recalled wipes were manufactured by supplier Sapro Temizlik Urunleri and sold at Target stores nationwide as well as through Target.com.

Target and the manufacturer have received a number of consumer complaints and adverse event reports alleging product discoloration and symptoms including skin irritation, eye irritation and infections that may be linked to use of the wipes. The reports remain under investigation.

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The recall affects multiple sizes of Up & Up Fragrance Free Baby Wipes, including 20-count, 72-count, 216-count, 800-count and 1,200-count packages, as well as Up & Up Fresh Cucumber Scented Baby Wipes sold in 72-count, 216-count and 800-count packages.

Consumers are being urged to stop using the recalled wipes immediately and return them to any Target store for a full refund.

Target said customers seeking additional information can contact Target Guest Relations at 1-800-440-0680.

The recall is being conducted with the knowledge of the U.S. Food and Drug Administration, and Target said it is continuing to investigate the matter in coordination with the manufacturer.

According to the FDA, the affected Up & Up Fragrance Free Baby Wipes were manufactured between Nov. 7, 2025, and May 5, 2026, and carry expiration dates ranging from May 10, 2028, through Nov. 5, 2028.

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The recalled Up & Up Fresh Cucumber Scented Baby Wipes were manufactured between Dec. 29 and Dec. 30, 2025, and carry expiration dates ranging from June 29, 2028, through June 30, 2028.

A complete list of affected UPCs, manufacturing codes and package sizes is available in the FDA recall notice.

McDonald's testing AI drive-thru order-taking system called ArchIQ at five locations across country

Fri, 05 Jun 2026 21:41:59 -0400

McDonald's customers may soon be giving their order to a robot.

The fast food company is testing a new artificial intellience order-taking system at the drive-thru called ArchIQ at five locations across the country right now, according to Restaurant Business Magazine.

The initiative is part of the company's new brand strategy called McDonald’s Next, which was announced this week.

FOX Business has reached out to McDonald's for comment.

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While introducing McDonald’s NEXT earlier this week, CEO Chris Kempczinski said that customers shouldn't have to choose between "hospitality or speed."

McFranchisee, an X account for a McDonald's franchise, said this week that Google is affiliated with the new project.

"Meet Archy IQ - no, we are not new to AOT. In fact, we have been in this AI field for about 8 years," McFranchisee wrote on X on Tuesday.

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"We sold our in-house model to IBM and moved on as it wasn’t good enough for our needs. As mentioned below, I wanted to hire Google (who uses NVIDIA) to service our AOT 3 years ago and found out today that Google is behind this project. We are currently in 5 test stores, having processed over 1M transactions with about 90% of orders completed without human escalations. Impressive for a new test."

McFranchisee said that every McDonald's in the country will get Google Edge Cloud blades installed ahead of the rollout.

"Archy will not only assist drive-thru orders but act as a master brain to help managers run a better restaurant," it added. "It’s like a personal assistant that alerts you to potential bottlenecks or issues."

Most of the comments under the X post were negative.

"We all hate the system installed at Wendy's," one person wrote. "We hate the kiosks at McDonald's, Wendy's, and Taco Bell that we are asked to use instead of talking to a person. We will hate this too. Say goodbye to customers."

"No one wants this - we like dealing with smiling faces," another said, to which McFranchisee replied, "We still smile at the cash and present window - this is just at the speaker."

The new A.I. initiative comes two years after McDonald's dropped another similar effort.