Business news

• Social Security chief Bisignano says program will 'be around for another 90 years'

  13-10-2026 23:02 via foxbusiness.com
  
  Social Security Administration Commissioner Frank Bisignano said in an interview Monday that the entitlement program will be around for another 90 years as a key trust fund approaches insolvency.Bisignano, who is also the IRS CEO, spoke with CNBC's "Squawk Box" ahead of this week's announcement of the 2027 cost-of-living adjustment (COLA) for Social Security benefits following the latest inflation data.As SSA commissioner, Bisignano is one of the trustees of Social Security's trust funds, and he
  
  Read more

• A fridge hack spoiled food in hundreds of French supermarkets. Cybersecurity experts say it's a wake-up call

  14-10-2026 10:00 via cbc.ca
  
  The cyberattack on French supermarkets earlier this week that left hundreds of fridges worth of food spoiled should be a wake-up call about the vulnerabilities of digitized systems and devices that are connected to the internet, cybersecurity experts say.
  
  Read more

• Amazon Extra Strength Acetaminophen recalled: More than 112,000 bottles affected by discoloration complaints

  14-10-2026 07:27 via foxbusiness.com
  
  More than 112,000 bottles of Amazon-branded extra-strength acetaminophen are being recalled after consumers reported discolored pills, according to the Food and Drug Administration (FDA).Aurobindo Pharma USA, a New Jersey-based pharmaceutical company, initiated the voluntary recall on Sept. 18, affecting three bottle sizes of Amazon Extra Strength Acetaminophen 500 mg caplets.The recall remains ongoing, according to the FDA.BABY BATH SEATS SOLD ON AMAZON RECALLED OVER DEADLY DROWNING HAZARDThe r
  
  Read more

• CVS Pharmacy reaches $315M settlement with Justice Department over controlled substance prescriptions

  14-10-2026 05:45 via foxbusiness.com
  
  CVS has agreed to pay $315 million to resolve Justice Department allegations that the pharmacy chain illegally filled prescriptions for opioids and other controlled substances and sought payment for many of them from Medicare and other federal health care programs.The settlement resolves a case brought by the federal government in 2024 alleging that CVS knowingly filled prescriptions for controlled substances that lacked a legitimate medical purpose or were issued outside the usual course of pro
  
  Read more

• Advertisement

• Saudi national accused of planting recording device in OpenAI executive conference room

  14-10-2026 00:48 via foxbusiness.com
  
  A Saudi national working as an OpenAI engineer was arrested after allegedly planting a covert recording device inside an executive conference room at the company's San Francisco office, federal authorities announced Tuesday.Abdulrahman Alfozan, 35, was arrested Oct. 9 and charged with using or attempting to use a device to intercept oral communications, according to the Department of Justice."FBI and partners arrested this individual after he allegedly concealed a recording device inside his emp
  
  Read more

• Food Lion, Stop & Shop and Hannaford websites face outages after cybersecurity issue

  13-10-2026 22:27 via foxbusiness.com
  
  A group of grocery stores, including Stop & Shop, Hannaford and Food Lion, are facing outages to their websites and mobile apps this week.Ahold Delhaize USA, the parent company of the grocery store chains and others, said in a statement Monday that was later updated Tuesday that it was experiencing a cybersecurity issue within its network.The issue prompted the company to take "precautionary measures, including taking some systems offline to help protect them."US WARNS OF ACTIVE CYBER THREAT
  
  Read more

• Bank of America hit with $1.2B in penalties over money laundering compliance failures

  13-10-2026 22:16 via foxbusiness.com
  
  The Treasury Department announced approximately $1.21 billion in penalties against Bank of America over longstanding anti-money laundering failures and U.S. sanctions violations.Regulators found the bank failed to adequately investigate trillions of dollars in potentially suspicious transactions despite knowing about significant compliance deficiencies.The action includes the largest penalty in the history of the Office of the Comptroller of the Currency (OCC) and the third-largest in the histor
  
  Read more

• Wingstop unveils unusual new wing flavor featuring Sour Patch Kids candy

  13-10-2026 21:46 via foxbusiness.com
  
  Wingstop is bringing candy to its chicken wings, teaming up with Sour Patch Kids for an unexpected new flavor ahead of Halloween.The chicken chain announced Tuesday that it is partnering with Mondelēz International’s Sour Patch Kids brand to launch Sour Patch Kids Wicked Punch, featuring a sweet-and-sour Redberry glaze topped with Sour Patch Kids Bitz, finely chopped pieces of the classic candy.The limited-time flavor can be added to Wingstop’s chicken offerings and will roll ou
  
  Read more

• Advertisement

• Kroger plans to cut 3,000 corporate jobs as grocery giant expands AI use

  13-10-2026 19:31 via foxbusiness.com
  
  Kroger is planning to eliminate approximately 3,000 corporate positions over the next three years as the grocery giant expands its use of artificial intelligence and looks to cut costs, according to a report.The planned cuts would affect roughly 37% of Kroger's approximately 8,200 corporate employees, Reuters reported Monday, citing an internal memo from CEO Greg Foran.The restructuring comes as Kroger faces pressure to improve sales, keep grocery prices competitive and streamline operations thr
  
  Read more

• Social media giants pressed to adopt tougher safeguards for children: 'Our kids are under attack'

  13-10-2026 19:19 via foxbusiness.com
  
  A group of parents, child advocates and family policy groups is calling on TikTok, YouTube and Snapchat to adopt the same safeguards for minors recently agreed to by Meta, arguing that the changes should become an industry-wide standard.In a letter sent to the three platforms and obtained by FOX Business, the American Principles Project and other organizations and community leaders called Meta’s new protections a "new and higher standard for the industry" that should serve as a "whole new
  
  Read more

• BlackRock expands skilled trades push with new financial wellness partnership for 75,000 apprentices

  13-10-2026 18:00 via foxbusiness.com
  
  SaverLife on Tuesday announced the launch of a customized version of its financial wellness app designed to support skilled trades workers through a partnership with BlackRock.The app was funded by The BlackRock Foundation through its Future Builders initiative, which aims to support workforce development, and the SaverLife x BlackRock Future Builders app will provide customized tools to help thousands of skilled trades apprentices manage their debt, build credit and grow their savings.The app i
  
  Read more

• IMF warns of risks from AI boom and debt, but raises forecast for world growth

  13-10-2026 16:22 via cbc.ca
  
  The international body slightly upgraded its outlook for the world economy, but warned that risks of an AI-related market correction and job losses because of the technology, as well as government debt, remain concerns. The report comes as economic and financial leaders gathered in Bangkok for the fall meetings of the IMF and World Bank.
  
  Read more

• Six Flags closes roller coasters at multiple parks after deadly incident in Georgia

  13-10-2026 14:44 via foxbusiness.com
  
  Six Flags has temporarily closed multiple roller coasters at amusement parks across North America as a precaution following a fatal incident at Six Flags Over Georgia that left one person dead and others injured.The closures affect major attractions in California, New Jersey, Illinois, Ohio, North Carolina and Canada, with no reopening dates announced.The announcement came a day after a man was killed while riding the Goliath roller coaster at the Georgia theme park. The Cobb County Police Depar
  
  Read more

• Stellantis CEO says they can learn from Chinese partners — shows EV confidence

  13-10-2026 13:26 via cbc.ca
  
  Stellantis and Volkswagen are undergoing strategic overhauls to address the growing competition of Chinese rivals in the European market, but announcements by Stellantis on Monday also showed more scope for collaboration.
  
  Read more

• This Punjabi rapper was murdered in 2022. His new tour is testing the market for holographic concerts

  13-10-2026 10:00 via cbc.ca
  
  Sidhu Moose Wala’s Signed to God world tour kicked off in Toronto last Friday, with a hologram standing in on stage for the Punjabi rap star who was shot and killed in 2022. Fans lined up for the show seemed eager to see what was in store, while tech and music industry observers say it's an interesting test of the technology.
  
  Read more

• This Canadian-Punjabi rapper was murdered in 2022. His new tour is testing the market for holographic concerts

  13-10-2026 10:00 via cbc.ca
  
  Sidhu Moose Wala’s Signed to God world tour kicked off in Toronto last Friday, with a hologram standing in on stage for the Canadian-Punjabi rap star who was shot and killed in 2022. Fans lined up for the show seemed eager to see what was in store, while tech and music industry observers say it's an intersting test of the technology.
  
  Read more

• Ottawa wants to expand the oilsands, but the industry's wastewater problem will grow with it

  13-10-2026 10:00 via cbc.ca
  
  The recent decision by Prime Minister Mark Carney to fast-track a new oil export pipeline to the West Coast is adding urgency for Ottawa to finally decide what to do with a long-standing environmental issue plaguing the oilsands in Northern Alberta — what to do with tailings ponds.
  
  Read more

• Elon Musk calls Waymo cars ‘pet destroyers’ as robotaxi rivals clash over safety

  13-10-2026 04:02 via foxbusiness.com
  
  Elon Musk accused rival Waymo’s driverless cars of being "pet destroyers" as he touted a Tesla robotaxi update designed to spot animals in some of the toughest nighttime driving conditions.The Tesla CEO made the remarks during a Tesla Owners of Silicon Valley livestream Saturday as he discussed testing the company’s robotaxis before expanding into new cities."Maybe what a lot of people don't know is that Waymos are like pet destroyers," Musk said. "Maybe Waymo has made some improveme
  
  Read more

• IM8, co-founded by David Beckham, lands NBA partnership as health brand continues fast growth

  13-10-2026 01:08 via foxbusiness.com
  
  IM8, a premium health and longevity brand co-founded by David Beckham, has been endorsed by one of the best basketball players in the world: Miami Heat’s Giannis Antetokounmpo. Now, the NBA is naming the fast-growing brand its official nutrition partner in Australia and Southeast Asia.The NBA and IM8, which is a wholly owned subsidiary of Prenetics Global Limited, a leading global health services company dedicated to advancing consumer health, announced on Monday its multi-year collab
  
  Read more

• Man used AI songs and 10,000 bots to collect $8M in fraudulent music royalties, prosecutors say

  13-10-2026 00:35 via foxbusiness.com
  
  A North Carolina man was sentenced to 18 months in prison after prosecutors said he used AI, or super intelligence, to create music and thousands of bots to fraudulently collect more than $8 million in streaming royalties.Michael Smith, 54, of Cornelius, North Carolina, pleaded guilty in March to one count of conspiracy to commit wire fraud and was sentenced Oct. 6, according to the U.S. Attorney’s Office for the Southern District of New York.Prosecutors described the case as the Justice D
  
  Read more

• Microsoft president says AI faces fewer safety rules than milk in call for global regulation

  12-10-2026 23:55 via foxbusiness.com
  
  Microsoft President Brad Smith highlighted the need for global regulation of artificial intelligence (AI) in a new interview, saying that AI currently faces lighter safety requirements than milk. Smith said in an interview with the BBC that was published Monday that there's a need for a global set of AI safety rules that includes a notification mechanism for victims whose systems are breached by a rogue AI agent, as well as an "emergency brake" available to developers.Smith said there shoul
  
  Read more

• The housing market could finally become affordable again. Here's what it would take

  12-10-2026 22:57 via foxbusiness.com
  
  Americans facing high housing costs could see some normalization of prices in the years ahead, though a new report cautions that the timeline varies widely based on market dynamics and across different metro areas.Redfin released an analysis last week which found that housing costs could hypothetically return to "normal" in the next five years if mortgage rates fall to 6% and home price growth remains steady at about 2.1%."When we say housing costs could return to normal within five years, we do
  
  Read more

• Starbucks says it is not buying Chipotle following deal speculation

  12-10-2026 22:12 via foxbusiness.com
  
  Starbucks is putting an end to speculation that it could acquire burrito chain Chipotle Mexican Grill.A Starbucks spokesperson confirmed to FOX Business on Monday that the coffee giant is not buying Chipotle following a report that it had explored a potential deal."Our team is laser focused on executing our Back to Starbucks strategy. We have strong momentum and confidence in our long-term growth potential," the company reiterated. "We look forward to sharing our Q4 results, including FY27 guida
  
  Read more

• Pickleball facility franchisor files for bankruptcy as founder acknowledges business mistake: 'I own it'

  12-10-2026 21:06 via foxbusiness.com
  
  Pickleball facility franchisor The Picklr has filed for Chapter 11 bankruptcy protection as the company seeks to reorganize after what its founder acknowledged was a costly business mistake tied to early lease guarantees.The indoor pickleball company filed late Friday in the U.S. Bankruptcy Court for the Northern District of Texas, according to a public statement from the company. The Picklr said an investor group led by one of its franchisees has committed $4.5 million in financing, subject to
  
  Read more

• The American dream now costs $5.3M as homeownership, college costs surge

  12-10-2026 19:20 via foxbusiness.com
  
  The cost of the American dream is rising at a faster pace than household earnings, driven by notable increases in the cost of homeownership, raising children and paying for college, according to a new report.An analysis by Investopedia finds that the lifetime cost of the American dream rose 4.1% from 2025 to 2026, with the cost increasing by more than $208,000 from $5.11 million a year ago to $5.32 million this year.That cost has risen faster than wages and salaries, as the Bureau of Labor Stati
  
  Read more

• Mike Rowe says CEOs are 'freaking out' over barriers to recruiting skilled trades workers

  12-10-2026 14:00 via foxbusiness.com
  
  Intense demand for workers in the skilled trades is leading U.S. companies to ramp up training programs to expand their workforces and to poach workers from other companies to fill vitally needed positions.Mike Rowe, CEO of the mikeroweWORKS Foundation, which helps the next generation get training in the skilled trades, told FOX Business that it's "been very surreal for me to watch the skilled trades come back into something like favor.""I don't want to overstate it, but I can tell you that not
  
  Read more

• Nobel memorial prize in economics awarded to Robert E. Hall and Michael Woodford

  12-10-2026 13:06 via cbc.ca
  
  American-born economists' models have helped governments and central banks manage economic shocks and "smooth out the economy's peaks and troughs," says Royal Swedish Academy of Sciences.
  
  Read more

• 'More power, more money': Inside the economic clash over Florida's free-market boom

  12-10-2026 12:00 via foxbusiness.com
  
  "Give us more power, or give us more money."That, according to U.S. Sen. Ashley Moody, R-Fla., is the core formula behind the Democratic Socialists of America (DSA) platform — an economic model the Florida Republican told Fox News Digital is failing in cities across the country and runs counter to American founding principles.In her Senate race against DSA member and Democratic state Rep. Angie Nixon, Moody is warning that what she describes as a far-left agenda could undermine the free-en
  
  Read more

• Economic frustration helps fuel Alberta separatism — and these 4 charts suggest why

  12-10-2026 10:00 via cbc.ca
  
  Alberta is a wealthy province. Yet economic frustration is part of what's driving the separation movement. But would independence improve Alberta's fortunes or bring new economic concerns?
  
  Read more

• More than 82K rechargeable hand warmers recalled over fire risk

  12-10-2026 09:21 via foxbusiness.com
  
  More than 82,000 rechargeable hand warmers, including products sold at Target, The Home Depot and Amazon, have been recalled over fire and burn hazards, according to federal regulators.The recall affects about 77,000 Kobayashi’s HotHands-branded rechargeable hand warmers sold in the U.S., along with approximately 77 sold in Canada. It also covers about 5,500 Gobi Heat-branded rechargeable hand warmers sold in the U.S. and about 47 sold in Canada."The lithium-ion battery and electrical comp
  
  Read more

Follow @Business_Newsl on Twitter!