Business news

• Treasury yields hit multi-decade highs amid surging national debt

  19-08-2026 01:29 via foxbusiness.com
  
  Financial markets and investors are reacting to the rapidly growing U.S. national debt, which is approaching a record of $40 trillion, by requiring greater returns for those who invest in America's debt obligations.Yields on U.S. Treasurys have been elevated recently, in part due to the growth in debt, with the federal government projected to run a roughly $2.1 trillion budget deficit this fiscal year, according to the nonpartisan Congressional Budget Office (CBO).Two recent Treasury auctions in
  
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• Keystone XL: What Trump’s focus on an oil pipeline says about Canada-U.S. trade

  19-08-2026 22:13 via cbc.ca
  
  U.S. President Donald Trump says the Keystone XL oil pipeline project "may be awoken from the grave." Experts suggest the remark may have more to do with politics than petroleum.
  
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• Amazon plans massive expansion of Prime Air drone deliveries

  19-08-2026 17:54 via foxbusiness.com
  
  Amazon is preparing a roughly sixfold expansion of its Prime Air drone delivery network, targeting nearly 500 U.S. cities and towns by the end of 2026 as retailers and delivery companies race to make last-mile shipping faster and cheaper.The rollout would dramatically widen Prime Air's footprint from 11 current delivery sites across 10 metro areas and give Amazon a larger test of whether autonomous aircraft can become a meaningful part of its logistics network.Amazon plans to expand next into th
  
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• Texas cities dominate America's best housing markets as coastal powerhouses fall behind: report

  19-08-2026 12:30 via foxbusiness.com
  
  The American dream of owning a home may be getting harder to achieve in some of the country's biggest cities, but new data suggests it remains alive and well in parts of Texas and the Sun Belt.According to WalletHub’s 2026 Best Real Estate Markets report released Wednesday, Frisco, Texas, took the top spot and was followed by neighboring McKinney, Texas. Murfreesboro, Tennessee; Durham, North Carolina; and Denton, Texas, rounded out the top five.Other top 10 contenders include Cary, North
  
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• Frozen dog food recalled over salmonella contamination that led to multiple pet illnesses

  19-08-2026 09:00 via foxbusiness.com
  
  More than 600 bags of frozen dog food are facing a recall after FDA testing prompted by a consumer complaint found salmonella contamination.Connecticut-based Oma’s Pride issued a recall for one lot of Woof Complete Canine Chicken Recipe, the company announced on Monday.A total of 639 bags are affected by the recall effort. The impacted products have a manufacturing date of Jan. 27, 2026, and a best-by date of Jan. 27, 2029. The recalled product is a raw dog food sold in a six-pound gussete
  
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• Steak 'n Shake launches Protein Steakburger with grass-fed beef in latest MAHA-inspired move

  19-08-2026 06:05 via foxbusiness.com
  
  Steak 'n Shake, the fast-food chain embracing Health and Human Services Secretary Robert F. Kennedy Jr.'s Make America Healthy Again (MAHA) movement, announced that it will launch a new "Protein Steakburger" next month.The restaurant chain unveiled the Protein Steakburger, along with a Double Steakburger Double Cheese, with both menu items set to launch Sept. 1."Real ingredients. Real food. The Protein Steakburger consists of two 100% grass-fed, grass-finished Steakburgers," the company wrote. "
  
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• Trump pauses 50% tariffs on Canada hours before deadline after announcing potential deal

  19-08-2026 04:54 via foxbusiness.com
  
  President Donald Trump said late Tuesday that he is pausing 50% tariffs on Canadian goods scheduled to take effect Wednesday, saying the two countries have reached a deal pending final documentation."I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on Truth Social."The great Keystone XL Pipeline, long ago killed by
  
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• Costco plots major expansion into senior healthcare with Medicare partnership

  19-08-2026 04:01 via foxbusiness.com
  
  Costco will soon offer Medicare plans to certain members as part of a new, first-of-its-kind health insurance venture. The warehouse giant has teamed up with SCAN Health Plan, one of the nation’s largest nonprofit Medicare Advantage plans focused on senior health care, the insurance company announced Tuesday. Under the partnership, the companies will launch a "suite of senior-focused" insurance products over the coming years. Pending regulatory approval, the suite could incl
  
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• Meta trial begins with states accusing social media giant of exploiting, intentionally addicting children

  19-08-2026 02:54 via cbc.ca
  
  Meta Platforms rejected accusations by U.S. states that it intentionally sought to addict children to its Facebook and Instagram platforms in pursuit of profit as a trial that could reshape some of the most popular apps on the planet got underway Tuesday.
  
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• Fall travel bargains are fading as shoulder-season demand drives up prices

  19-08-2026 02:35 via foxbusiness.com
  
  Travelers can still score deals this fall, but they may have to work harder to find them as the traditional shoulder season gets squeezed.Fall travel interest on Vrbo is up 17% from a year ago, while average nightly rates after summer are now just 5% below peak summer prices across the platform’s top destinations, according to new data from the vacation rental platform."Shoulder season is this magic time between Labor Day and the holiday travel season when, traditionally, prices have dropp
  
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• American Airlines makes major cabin upgrade as it battles for premium passengers

  19-08-2026 02:09 via foxbusiness.com
  
  American Airlines passengers could soon notice some big changes when they settle into their seats, as the carrier rolls out a major overhaul of the onboard experience.The company said Tuesday that more than 800 narrowbody aircraft will ultimately receive new entertainment systems featuring 4K displays, Bluetooth connectivity and USB-C charging."Big enhancements are taking flight," American said in a post on X announcing the changes.New aircraft equipped with the screens are expected to begin arr
  
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• Mark Walter's insurer to cut $6.5B in investments amid federal probe, Lakers sale

  18-08-2026 23:14 via foxbusiness.com
  
  Mark Walter, who sold his ownership stake in the Los Angeles Lakers and may be looking to unload his shares of Chelsea Football Club, continues to cut back amid a federal investigation. TWG Global, Walter’s holding company, said on Tuesday it had agreed to cut up to $6.5 billion of Delaware Life Insurance Co’s investments in his businesses. The billions in swaps would be related-party investments for an equivalent amount of assets classified as independent, according to Reuters.
  
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• Tunnel to Towers Foundation and Anheuser-Busch deepen partnership ahead of 9/11 25th anniversary

  18-08-2026 23:12 via foxbusiness.com
  
  The 25th anniversary of the September 11 attacks is approaching next month and a prominent foundation serving first responders and servicemembers is partnering with a major beer brand as the American public remembers those who stepped forward in response to the attacks.The Tunnel to Towers Foundation and Anheuser-Busch have deepened their partnership in advance of the anniversary, with the company stepping in to help sponsor events around the country. Stephen Siller Jr., who manages the In the L
  
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• California regulators pass rules limiting what replacement tires drivers can purchase

  18-08-2026 23:00 via foxbusiness.com
  
  California regulators on Monday approved new rules that will restrict which replacement tires can be sold across the state in an effort to meet energy-efficiency standards.The new regulations, unanimously adopted by the California Energy Commission (CEC), will phase out tires that fail to meet these standards — a move that could restrict a large portion of the tires currently available to drivers."This ultimately is about protecting consumers," said David Hochschild, Chairman of the Califo
  
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• States accuse Meta of targeting children for Facebook, Instagram addiction: 'The young ones are the best ones'

  18-08-2026 19:59 via foxbusiness.com
  
  Meta faced accusations of targeting children for addictions to Facebook and Instagram in federal court on Tuesday.Deputy California Attorney General Meghan O'Neill launched her case against Meta in a trial that could reshape how Facebook, Instagram and other social media platforms operate.O'Neill told the jury that Meta's business model was all about trying to "hook the users, hold them for as long as they can, harvest their data and then hide the truth from the public."She said children were pa
  
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• Trump pauses 50 per cent tariffs on Canadian goods for 3 days

  18-08-2026 19:13 via cbc.ca
  
  U.S. President Donald Trump has announced he will pause the implementation of 50 per cent tariffs on a range of Canadian goods for three days, posting the decision less than two hours before the crushing levies were set to take effect.
  
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• New York Republican congressman rips Hochul policies for sending businesses ‘don’t come here’ message

  18-08-2026 17:17 via foxbusiness.com
  
  New York’s business climate is back in the spotlight after Gov. Kathy Hochul’s pause on new hyperscale data centers added to a broader debate over whether the state’s energy and economic policies are pushing investment elsewhere.Rep. Mike Lawler, R-N.Y., joined FOX Business’ Cheryl Casone on "Mornings with Maria" to discuss New York’s energy policies, business climate and continued taxpayer out-migration.Hochul announced a statewide moratorium of up to one year on J
  
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• Home Depot customers stick to smaller projects as housing costs stay high

  18-08-2026 17:01 via foxbusiness.com
  
  Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work over larger projects."Our second quarter results exce
  
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• July home sales down 5.3% from last year, but market becoming more balanced: CREA

  18-08-2026 14:51 via cbc.ca
  
  The Canadian Real Estate Association says home sales in July were down compared with a year ago, but edged slightly higher month over month.
  
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• Supreme Court rejects Verizon effort to get $46.9M FCC fine refund in location data case

  18-08-2026 14:32 via foxbusiness.com
  
  The Supreme Court has denied Verizon’s request for rehearing in its fight over a $46.9 million Federal Communications Commission penalty tied to the telecom giant’s former customer location data program.The justices denied the petition Monday without explanation, leaving the court’s earlier judgment against Verizon in place, according to the court’s Aug. 17 order list.The denial closes off Verizon’s effort to alter the disposition of a June Supreme Court ruling that
  
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• Mark Walter looking to unload Chelsea stakes days after selling Lakers to Josh Kushner, Bob Iger: report

  18-08-2026 14:23 via foxbusiness.com
  
  Mark Walter, who already sold his majority stake in the Los Angeles Lakers just one year after purchasing the NBA team, might be selling off yet another sports asset. Walter and business partner Todd Boehly are reportedly looking to sell their stakes in Chelsea Football Club of the English Premier League, according to the Financial Times.Walter and Boehly are hoping to sell their stakes to Clearlake Capital, the majority owner of one of the most popular soccer teams in the entire world.&nbs
  
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• OpenAI builds dedicated ChatGPT experience for teens with parental controls and study features

  18-08-2026 13:30 via foxbusiness.com
  
  ChatGPT-maker OpenAI on Tuesday announced that it's creating a new portal for teenagers between the ages of 13 and 17 as it looks to address concerns about online safety for young people.The company made the announcement exclusively on-air with Fox News' "Fox & Friends" on Tuesday morning and outlined how the platform looks to address the potential for the misuse of the platform by children.The ChatGPT for Teens portal will serve as the default experience on the artificial intelligence (AI)
  
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• 'Owners are afraid': New tariffs could cut sales in half for some Canadian businesses

  18-08-2026 10:00 via cbc.ca
  
  The new slate of tariffs are set to hit a range of industries, ranging from lumber to electronics, manufacturing to dairy. Regardless of the sector, these small business owners fear the new levies will take a massive bite out of their cross-border sales.
  
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• Nearly 1M Chrysler, Jeep, Dodge and Ram vehicles recalled over camera glitch

  18-08-2026 04:03 via foxbusiness.com
  
  Chrysler parent Stellantis announced on Monday that nearly one million vehicles worldwide are being recalled over radio software that may prevent rearview cameras from displaying images properly.About 955,000 Chrysler, Jeep, Dodge and Ram vehicles are affected by the recall.This covers more than 848,000 vehicles in the U.S., including various 2026 and 2027 model year Chrysler Pacifica, Pacifica Plug-in Hybrid and Voyager, Dodge Charger, Jeep Cherokee, Compass, Gladiator, Gran
  
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• Swig’s ‘dirty soda’ boom grows beyond Utah as investor touts ‘Starbucksification’ of soft drinks

  18-08-2026 02:25 via foxbusiness.com
  
  Swig, the Utah-born beverage chain that helped popularize "dirty soda," is finding some of its strongest growth well beyond its home state.Andrew K. Smith, managing director and co-founder of restaurant-focused private equity firm Savory Fund, told FOX Business that Swig locations outside Utah are performing roughly 40% to 50% better than stores within the state.The chain now operates in 23 states and expects to reach about 200 locations by the end of the year, Smith said, with additional expans
  
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• LARRY KUDLOW: Trump and the GOP Actually Have a Strong Election Message as Long as They Make It

  17-08-2026 23:33 via foxbusiness.com
  
  So one of the political lessons of the primary election season is how badly polls have been wrong. Comrade Abdul El-Sayed in Michigan was supposed to win by more than 20 percentage points, but instead barely escaped by a thin cat’s whisker.And the extremist Francesca Hong in Wisconsin was also supposed to win by 20 points or so. But she lost by an even thinner cat’s whisker.And there are plenty of other examples. Where am I going with all this? Well, all these polls show President Tr
  
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• L3Harris ousts CEO Kubasik over conduct violation

  17-08-2026 22:34 via foxbusiness.com
  
  L3Harris Technologies said on Monday that CEO Christopher Kubasik stepped down from the role after an investigation by the board of directors found he engaged in misconduct, which led to the company reaching a separation agreement with him and naming his successor.L3Harris' announcement didn't disclose the specific findings of the investigation, but said it "became aware of certain conduct that was not consistent with the values" outlined in the company's code of conduct.It noted that the conduc
  
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• Jeanie Buss battling siblings over sale of remaining Lakers shares to new ownership group: reports

  17-08-2026 22:32 via foxbusiness.com
  
  Less than one week after Mark Walter shockingly sold the Los Angeles Lakers to Bob Iger and Josh Kushner, the Buss family is now relinquishing its own shares to the new majority owners. At least, most of the Buss family wish to do so. Earlier on Monday, ESPN reported the Buss family decided to sell the remaining 17.8% ownership stake in the iconic NBA franchise to Kushner and Iger. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMThe family’s trust, which includes sibli
  
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• Meta heads to trial over alleged social media addiction, risks to children

  17-08-2026 20:06 via foxbusiness.com
  
  Social media giant Meta is heading to court in a case brought by a group of state attorneys general who claim the company designed its social media platforms to be addictive and misled the public about potential risks.The trial is expected to begin with opening statements on Tuesday in the U.S. District Court for the Northern District of California in Oakland after the two sides went through the jury selection process last week and Judge Yvonne Gonzalez Rogers turned down Meta's request for the
  
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• What's at stake as Meta faces potential landmark trial in U.S. federal court

  17-08-2026 18:33 via cbc.ca
  
  Meta has lost two trials concerning child safety on its platforms so far this year and settled a third case. The company now faces what could be its most consequential trial yet, in federal court beginning Tuesday.
  
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