Category: Business

SEC launches crypto task force to create regulatory clarity

Circle Squared Alternative Investments founder Jeff Sica analyzes the cryptocurrency market and explains why it’s important for Trump to save TikTok on ‘Varney & Co.’

The relationship between Wall Street’s top cop and the U.S. cryptocurrency industry is on the mend following more than four years of friction.

On Tuesday, the Securities and Exchange Commission announced it is spearheading efforts to establish a regulatory framework for digital assets with the creation of a new crypto task force.

The initiative, which will be led by Republican commissioner Hester Peirce, was acting chair Mark Uyeda’s first official action following his appointment to the position by President Trump on Monday. Uyeda, a Republican commissioner, will serve in the role until Paul Atkins, Trump’s permanent pick to lead the agency, is confirmed by the Senate.

FOX Business was first to report in November that the task force was a possibility and that Peirce, often referred to as “Crypto Mom,” had expressed interest in leading such a group.

PRESIDENT TRUMP APPOINTS MARK UYEDA ACTING SEC CHAIR

SEC Commissioner Mark Uyeda speaks during the 2024 Financial Markets Quality Conference at Georgetown University in Washington, D.C., on Sept. 17, 2024. (Al Drago/Bloomberg via Getty Images / Getty Images)

As FOX Business previously reported, the task force will work closely with industry players to create an open dialogue that will allow for a friendlier regulatory environment.

Tuesday’s announcement stated the task force will focus on helping the commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously. It will also coordinate with other federal agencies, including the Commodity Futures Trading Commission, which is poised to take on a larger role in crypto regulation.

The SEC, under the leadership of Biden’s chair Gary Gensler, brought more than 100 legal actions against crypto players over the last four years as the commission has attempted to bring the sector into compliance using enforcement. Many of the lawsuits were brought over credible allegations of fraud and manipulation, but others centered around companies failing to register their sales of digital assets as securities.

Industry participants have long complained that the decentralized nature of cryptocurrencies and the blockchain technology they run on disqualifies them from being regulated like traditional securities, i.e. stocks and bonds. They have frequently called on regulators and Congress to develop a new regulatory framework specific to digital assets.

Gensler, however, believed traditional securities laws were enough to properly regulate the industry and that most digital assets aside from bitcoin are securities, suing companies that challenged this view by refusing to register with the commission.

PRESIDENT TRUMP LAUNCHES OWN CRYPTOCURRENCY MEME COIN AHEAD OF INAUGURATION

SEC Chairman Gary Gensler participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury on July 28, 2023 in Washington, DC. The council met to deliver an update on the Council’s Climate-related Financial Risk Committee a (Kevin Dietsch/Getty Images / Getty Images)

President Trump has promised a lighter regulatory touch that will benefit developing industries like artificial intelligence and crypto. Since his election on November 5, he’s appointed a handful of industry advocates to key leadership positions at the Treasury, SEC and CFTC, and named venture capitalist David Sacks the first ever crypto and AI ‘czar’.

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Peirce and the crypto task force are already welcoming input on regulation from the public via email and will hold roundtables with industry participants in the future.

“This undertaking will take time, patience, and much hard work…,” Peirce said in a press release announcing the initiative. “We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation.”

January 23, 2025
JP Morgan setting up ‘War Room to keep up with Trump policy changes

RNC chairman Michael Whatley discusses big tech’s investment in AI on President Donald Trump’s first day in office on ‘The Evening Edit.’

Financial giant JPMorgan is implementing a “war room” to keep up with the immense policy changes the Trump administration is implementing, which they believe will unleash America’s “animal spirits”

“At JPMorgan, we have a war room set up to analyze and evaluate each and every one of these, so they’ve been up all night and are working on it,” Mary Erdoes, CEO of JPMorganChase’s Asset & Wealth Management line of business, told the crowd at the Davos World Economic Forum in Davos, Switzerland, on Tuesday.

“It’s our regular practice to analyze the impacts of any policy proposal on our business and the impact on our clients and the communities in which we operate. So naturally, there’s a team reviewing these new developments,” a JPMorgan spokesperson told Fox News Digital.

President Donald Trump began his second term with an avalanche of executive orders, undoing 80 Biden-era orders. Trump campaigned on introducing tariffs on foreign goods, lowering the corporate tax rate and extending the tax cuts past during his first term in office.

President Donald Trump began his second term with an avalanche of executive orders. (Joe Raedle/Getty Images / Getty Images)

TRUMP SIGNS DOZENS OF EXECUTIVE ORDERS, FULFILLING MANY BUT NOT ALL CAMPAIGN PROMISES

“The last 24 hours are showing there’s going to be a lot of changes we all have to digest,” Erdoes said.

Erdoes told the crowd of international business leaders and politicians that it appears that Trump is setting up a “very pro-business environment” in the U.S.

“Time will tell, but a lot of this is exactly what you would do to have a very pro-business environment,” she added.

Trump’s inauguration saw numerous business leaders in attendance, including Meta CEO Mark Zuckerberg, Tesla and SpaceX CEO Elon Musk, Amazon founder Jeff Bezos and UFC chief Dana White.

The JPMorgan executive claimed that the U.S. economy is in “go mode” and that America’s “animal spirits” are finally being unleashed. She also praised Trump for ordering federal employees to show up to the office to work, ending work-from-home policies.

TRUMP REVOKES SECURITY CLEARANCES OF 51 INTEL OFFICIALS WHO SIGNED DISCREDITED HUNTER BIDEN LAPTOP LETTER

JPMorgan believes Trump’s changes will be good for the economy. (Reuters/Brendan McDermid / Reuters Photos)

“Thank God the U.S. government has done it, and hopefully that’ll keep us ahead of other governments in the world so we can continue to compete.”

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Erdoes went on to bash the Biden administration’s endless red tape for “stifling” business activity in the US.

“If you look at the last administration and the number of new, significant regulations, it was eight times the number of significant new regulations versus the prior Trump administration,” she said. “With that comes multiple millions of man-hours of paperwork. Work that clogs up the system and stops the economy from continuing to have that very healthy flywheel. So we’re really looking forward to that.”

January 23, 2025
Trumps Tariffs on Mexico, Canada: What is means for shoppers

Former Reagan economist Art Laffer weighs in on Trump’s controversial economic plan to impose a 25% tariff on Mexico and Canada beginning February 1.

President Donald Trump renewed his commitment to slapping tariffs on imports during his first day in office, saying that a 25% levy will be placed on all goods from Canada and Mexico by February. He reiterated some of those remarks Tuesday.

His push comes even after a slew of retailers have issued concerns about the tariffs pumping up the costs of their products or forcing them to cut back on inventory. Wall Street titan Goldman Sachs also raised concerns that hiking the levies on products will drive up costs for everyday Americans.

TJ MAXX CEO SAYS COMPANY COULD BENEFIT FROM TRUMP’S PROPOSED TARIFFS

Trump argued last month that tariffs when used properly will “make our country rich.”

By contrast, the head of the National Retail Federation (NRF) – the nation’s largest trade group – previously warned that shoppers could face higher prices on an array of goods if Trump’s proposed tariffs on imports to the U.S. are implemented. The trade group estimated that families could lose between $46 billion and $78 billion in spending power annually.

On Monday, NRF Executive Vice President of Government Relations David French said the United States first “needs a review of our trade relationships to be sure that those relationships are structured to achieve fair, balanced and effective outcomes for American workers and businesses.”

“Tariffs are taxes paid by Americans, and any new tariff tax increases should be methodically and effectively deployed toward only the most strategic goods,” French said. “Undertaking a strategic assessment of trade priorities is an important first step.”

He said the trade group is looking “forward to working with the president to see that the resulting policy changes are carefully targeted and create an environment that attracts investment and protects critical industries.”

TRUMP’S TARIFFS WOULD DRIVE UP CONSUMER PRICES: NATIONAL RETAIL FEDERATION

U.S. COMPANIES WARNING ABOUT TARIFFS

Costco

During an earnings call in December, Costco CFO Gary Millerchip warned that Trump’s proposed tariffs would raise costs for consumers.

In general, he told analysts that “tariffs raise costs so that’s not something that we see as a positive.”

“When it rains, it rains on everybody,” he added.

Ticker Security Last Change Change %

COST COSTCO WHOLESALE CORP. 944.70 -3.03 -0.32%

(Angus Mordant/Bloomberg via Getty Images/File)

He said the company is going to try and work with its vendors “to make sure we’re looking for ways where we can to mitigate the cost.”

Dollar Tree

Dollar Tree – which has high exposure to China – warned that if tariffs are implemented, then the company might have to change product details or sizes and even get rid of items altogether if they become too expensive.

Ticker Security Last Change Change %

DLTR DOLLAR TREE INC. 71.97 -1.79 -2.43%

(Angus Mordant/Bloomberg via Getty Images/File)

In December, the discount retailer told analysts it has a “wide range of potential actions” it can take to mitigate additional tariffs if they materialize, including changing product details or sizes and even getting rid of items altogether if they become too expensive.

Dollar Tree said the last time the retailer faced this issue, in 2018 and 2019, it adjusted its products and negotiated lower costs with suppliers.

“Those options are still at our disposal,” interim CEO Michael Creedon told analysts on a Dec. 4 earnings call. “On top of those, we now have detailed plans in place to shift supply sources for most of our products to alternate countries, and multi-price gives us additional flexibility on our product assortment.”

Home Depot

Home Depot CEO Ted Decker told analysts during an earnings call in November that whatever happens with “tariffs will be an industrywide impact. It won’t discriminate against different retailers and distributors who are importing goods. The type of product as an industry is generally sourced from the same countries.”

Ticker Security Last Change Change %

HD THE HOME DEPOT INC. 410.08 -8.36 -2.00%

Lowe’s

Lowe’s Chief Financial Officer Brandon Sink told analysts during an earnings call in November that 40% of its goods sold are sourced outside the U.S., “and that includes both direct imports and national brands through our vendor partners.”

“And as we look at potential impact, [it] certainly would add product costs, but timing and details remain uncertain at this point,” Sink said.

Ticker Security Last Change Change %

LOW LOWE’S COMPANIES INC. 258.00 -5.20 -1.98%

Walmart

Walmart Chief Financial Officer John David Rainey warned that Trump’s proposed tariffs could lead to higher prices for its shoppers.

Ticker Security Last Change Change %

WMT WALMART INC. 93.23 +0.15 +0.16%

(ROBYN BECK/AFP via Getty Images/File)

“Tariffs are going to be inflationary. There’s no disputing that,” Rainey said during an interview with Liz Claman on “The Claman Countdown.”

While Rainey said two-thirds of the items the company sells are made, grown or assembled in the U.S., he said it is “in no way immune to this.”

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A Walmart spokesperson said in a statement to FOX Business that the company remains “concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation.”

The retail industry isn’t the only one that’s raised concerns. For instance, the head of finance for Stellantis hinted that it could shift production to the U.S. in the event that tariffs are enacted.

January 23, 2025
As second Trump term starts, anger at government, business soars globally

Rep. Mark Harris, R-N.C., expresses confidence in passing Trump’s legislative priorities through both Republican-controlled chambers and the ‘strong indication’ that America is a world leader again.

Edelman has now been conducting its annual trust survey – which is a nonprobability-based survey – for a quarter-century, and the global communications firm says this year’s findings are particularly alarming.

The 2025 Edelman Trust Barometer released Sunday found there is an unprecedented lack of faith in institutional leaders, with an all-time high of 70% of respondents saying they believe government officials, business leaders, and journalists deliberately mislead them.

A protestor uses a megaphone during a demonstration in front of Apollo theater as New York Mayor Eric Adams delivers his fourth and potentially final State of the City speech in Harlem on January 09, 2025 in New York City. (Kena Betancur/VIEWpress / Getty Images)

The survey, which polled 33,000 people across 28 countries, also found the fear of falling victim to discrimination is at an all-time high. In the U.S. alone, 50% of the white population expressed feeling discrimination, while more than 60% feel aggrieved by inflation, job loss risk, and downward social mobility.

The findings also indicated an unprecedented decline in employer trust worldwide.

‘BIDENOMICS’ UNDER FIRE: SMALL BUSINESS EARNINGS PLUNGE DESPITE GDP GROWTH

“Of the highly-aggrieved their observed experience is: You’ve got high inflation, you’ve got job risk, globalization, and [people are asking], ‘Is business really looking out for us?” said Edelman CEO Richard Edelman.

“I think it’s a moment in time for business to perform better,” he told FOX Business in an interview. “To reskill, to pay good wages, to have affordable products, and do what business does best, which is have an impact by making a profit.”

A ‘Mornings with Maria’ panel provides their reactions to the December jobs report, detailing the impact it may have on the U.S. economy.

Another trend shown in the findings is that there is a lack of hope for the next generation. Confidence in a better future is at just 36%, with lows in every Western democracy, including France (9%), the UK (17%), and the U.S. (30%).

People also increasingly see violence as a solution to their grievances, with 4 in 10 respondents, and 53% of those aged 18–34, saying they approve of violence, property damage, or misinformation as tools for change.

ENERGY AND FOOD PRICES DROVE INFLATION IN DECEMBER

At the same time, 67% of respondents said they are convinced the wealthy take more than their fair share, three-quarters overall report having financial issues due to inflation, and respondents increasingly see capitalism as a failure due to their economic situations, with 55% of 18–34-year-olds saying capitalism does more harm than good.

Disney employees rally outside the main entrance of Disneyland Resort in Anaheim, California, on July 17, 2024, ahead of a planned strike authorization vote. Distrust of institutions, including business, has soared worldwide, according to the latest (Photo by FREDERIC J. BROWN/AFP via Getty Images / Getty Images)

“It’s amazing to me that half the people in our study now question whether capitalism works – that’s a bad thing, ” Edelman said, suggesting the reason could be because capitalism has been performing for some and less well for others, or possibly because of how it’s been positioned by certain politicians.

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“But we have to make sure that people believe the system works,” he said. “And it’s not just the political system, it’s the economic system, unfairness. And I think the last thing that’s happened that’s really important over the years is the battle for truth and the breakdown of the information system.”

January 23, 2025

Ticker	Security	Last	Change	Change %
COST	COSTCO WHOLESALE CORP.	944.70	-3.03	-0.32%

Ticker	Security	Last	Change	Change %
DLTR	DOLLAR TREE INC.	71.97	-1.79	-2.43%

Ticker	Security	Last	Change	Change %
HD	THE HOME DEPOT INC.	410.08	-8.36	-2.00%

Ticker	Security	Last	Change	Change %
LOW	LOWE’S COMPANIES INC.	258.00	-5.20	-1.98%

Ticker	Security	Last	Change	Change %
WMT	WALMART INC.	93.23	+0.15	+0.16%

Trump’s fiscal clean-up job won’t be easy

FOX Business contributor Gary Kaltbaum reacts to President Donald Trump declaring a ‘golden age’ in America on ‘Making Money.’

President Donald Trump was sworn in amid much fanfare and celebration, and got straight to work on Monday. He started with a hiring freeze for federal workers and a regulatory freeze as part of a slew of executive orders, but taming the U.S. fiscal situation may prove more challenging.

“The biggest headwind is probably the massive debt and the very, very bloated budget, a lot of which contains spending. It’s money that hasn’t actually been spent at this point but is still slated to go out the door. You know, promises of future spending. So that’s going to be very, very problematic,” EJ Antoni, research fellow at The Heritage Foundation, told FOX Business before Trump took office.

President Donald Trump sings a second executive order during the inaugural parade inside Capital One Arena on the inauguration day of his second presidential term in Washington, D.C., on Monday. (Reuters/Carlos Barria / Reuters)

The national debt — which measures what the U.S. owes its creditors — is sitting above $36 trillion and growing, as tracked by the U.S. Treasury Department.

PRESIDENT TRUMP’S KEY FISCAL DEADLINES

As for the budget, the nonpartisan Congressional Budget Office (CBO) on Friday released its latest 10-year budget and economic outlook, which showed the federal government is on track to break a debt record set nearly 80 years ago.

MELANIA TRUMP STUNS IN AMERICAN DESIGNERS

“From 2025 to 2035, debt rises as increases in spending on Social Security, Medicare and interest payments outpace growth in revenues,” CBO Director Phillip Swagel told reporters.

The federal government is projected to run a $1.9 trillion budget deficit in fiscal year 2025. The deficit is projected to briefly decline in the next two years before resuming its rise. The short-lived drop is tied to the expiration of portions of Trump’s 2017 Tax Cuts and Jobs Act, which expires at the end of this year. However, Trump’s treasury pick, Scott Bessent, is vowing not to let that happen. Bessent is expected to sail through the confirmation process.

SCOTT BESSENT VOWS TO MAKE 2017 TAX CUTS PERMANENT

Scott Bessent, President Donald Trump’s nominee to be treasury secretary, testifies during his Senate Finance Committee confirmation hearing in Dirksen building in Washington, D.C., on Thursday. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

“We must make permanent the 2017 Tax Cuts and Jobs Act and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers and seniors,” Bessent told the Senate Finance Committee at his confirmation hearing. “President Trump was the first president in modern times to recognize the need to change our trade policy and stand up for American workers.”

President Donald Trump reviews the troops during his Inauguration ceremony in Emancipation Hall of the U.S. Capitol in Washington, D.C., on Monday. (Greg Nash/Pool/AFP via Getty Images / Getty Images)

The CBO’s analysis is based on current law, so changes to federal tax and spending policies could alter those figures.

Another devil in disguise: the Federal Reserve’s easing cycle aimed at tackling inflation. Policymakers cut rates three times in 2024, a 50-basis-point cut, followed by two quarter-point moves. Still, the 10-year Treasury yield, which sets rates for several borrowing metrics including mortgage rates, remains above 4%. Mortgage rates just topped 7%, according to Freddie Mac, rising for the fifth straight week.

Investors did celebrate the latest consumer price index reading, which held no surprises. The core rate, which excludes volatile food and energy, rose 3.2% in December on an annual basis, less than the 3.3% economists had expected. At the Fed’s first meeting of the year, on Jan. 29, market participants expect no change, according to the CME’s FedWatch Tool.

Ticker	Security	Last	Change	Change %
BNO	UNITED STATES BRENT OIL FUND – USD ACC	31.98	-0.20	-0.64%
USO	UNITED STATES OIL FUND – USD ACC	80.42	-0.68	-0.84%
GLD	SPDR GOLD SHARES TRUST – USD ACC	254.38	+1.29	+0.51%

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Still, inflation remains a wild card. Nymex and Brent crude have gained more than 8% this year, and gold is trading just under its all-time high of $2,788.50 an ounce.

January 23, 2025

Trump plans 10% tariffs on Chinese imports on Feb. 1

Trump senior advisor for trade and manufacturing Peter Navarro discusses the battle over TikTok and bringing ‘prosperity’ to the U.S. on ‘The Claman Countdown.’

President Donald Trump announced he is planning a 10% tariff on Chinese imports on Feb. 1 over the country’s role in fentanyl trafficking.

“We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Probably February 1st is the date we’re looking at.”

When asked about a conversation he had with Chinese President Xi Jinping ahead of his inauguration this week, Trump added, “We didn’t talk too much about tariffs, other than he knows where I stand.”

During his campaign, Trump threatened tariffs as high as 60% on goods from China. He recently pledged on Truth Social to create an “External Revenue Service” to “collect our Tariffs, Duties, and all Revenue that come from Foreign sources.”

JPMORGAN SETTING UP A ‘WAR ROOM’ TO KEEP UP WITH TRUMP’S POLICY CHANGES

President Donald Trump delivers his inaugural address after being sworn in as the 47th President of the United States in Washington, D.C., on Monday. (Chip Somodevilla/Pool/AFP via Getty Images / Getty Images)

Trump and his allies have argued that such a plan would bolster American manufacturing while making it more difficult for adversaries like China to “export their way out of their current economic malaise,” as Treasury Secretary nominee Scott Bessent told senators last week.

However, Democrats and opponents argue the cost of the tariffs would just be passed on to American consumers.

“Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses,” Rep. Suzan DelBene, D-Wash., recently said in a statement.

At a press briefing Wednesday, Chinese foreign ministry spokesperson Mao Ning told reporters, “We always believe that there is no winner in a trade war or tariff war,” according to Reuters.

Trump also has said a 25% levy will be placed on all goods from Canada and Mexico by February.

TRUMP ANNOUNCES LARGEST AI INFRASTRUCTURE PROJECT ‘IN HISTORY’ INVOLVING SOFTBANK, OPENAI AND ORACLE

Vice President JD Vance and President Trump react on the day of Trump’s Presidential Inauguration at the Rotunda of the U.S. Capitol in Washington, D.C., on Monday. (Kevin Lamarque/Pool/AFP via Getty Images / Getty Images)

In late November, Trump wrote on his Truth Social account that he would implement such tariffs on Jan. 20 as one of his first Executive Orders and that the tariffs “will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”

Those promised tariffs haven’t gone into effect yet, but on Monday, Trump did sign an executive order titled “America First Trade Policy.”

“The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, shall investigate the causes of our country’s large and persistent annual trade deficits in goods, as well as the economic and national security implications and risks resulting from such deficits, and recommend appropriate measures, such as a global supplemental tariff or other policies, to remedy such deficits,” the order said.

Trump says Chinese President Xi Jinping knows where he stands when it comes to tariffs. (Ton Molina/Bloomberg via Getty Images / Getty Images)

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“The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, shall investigate the feasibility of establishing and recommend the best methods for designing, building, and implementing an External Revenue Service (ERS) to collect tariffs, duties, and other foreign trade-related revenues,” it added.

Fox News’ Elizabeth Elkind and FOX Business’ Daniella Genovese contributed to this report.

January 23, 2025
Ex-MLB All-Star Kenny Lofton praises Sluggball’s reimagined approach to the sport: ‘Top Golf of baseball’

Check out what’s clicking on FoxBusiness.com.

A mostly lost art in the game of baseball is being revived in an innovative way this year, and one former Major League Baseball star is happy to advise.

Sluggball is a reimagined way to play the sport, and it is being viewed by six-time MLB All-Star Kenny Lofton, who serves as an advisor for the company, as something similar to a recreational version of another sport.

“This is almost like the Top Golf of baseball,” Lofton told FOX Business Digital over the phone. “It’s a competition, and you get guys who play the game and want to have fun with this.”

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A hitter readies a swing during a “Sluggball” tournament. (Sluggball / Fox News)

Sluggball was co-founded by a Philadelphia-based partnership group that includes former MLB player and Philadelphia Phillies GM Ruben Amaro Jr. and his brother, David Amaro. The Major League Baseball Players Alumni Association, Victus Bats and Blast Motion are also collaborators with the brand, while Evan Kaplan, managing director of MLB Players, Inc., serves as an advisor alongside Lofton.

The premise of the reimagined version of baseball is to reignite situational hitting in a fun format that allows players of all ages to compete in 4-on-4 competitions at various minor league parks in New Jersey, Ohio and New York this year.

Situational hitting is an aspect of today’s big-league game that is not a priority like it was in Lofton’s time playing the game. It hurts the former high-average outfielder to see power as the main component behind hitting, which is why he hopes Sluggball’s format can bring situational, contact hitting back to the forefront.

JOHNNY DAMON’S NUTRITION JOURNEY AND LOCAL TRAGEDY LED HIM TO FORM HIS OWN SPORTS DRINK BRAND

“I think my favorite part about this whole thing is that you can have the smaller people be a part of the game, and it was more about, for me, situational hitting,” Lofton, who played 17 MLB seasons and amassed 2,428 hits over 2,103 games, said. “I think that’s what I saw, and I felt like how important that was to the game, and it resonated with me because I wasn’t a power hitter. This game is so set up with power, power, power. I’m like that is not the only part of what makes this game so special. Just to have the opportunity for guys who played college ball, high school ball in this Sluggball to have an opportunity to get back into the game again because they love it.

“You don’t have to be the most power hitter, but you can still know how to handle the bat and Sluggball puts guys in that situation to put a little team together and go out there and do something and have this competitive edge like a lot of guys want to get back to.”

The rules for Sluggball are simple. First, teams of six to eight players are registered to their respective event this year with their own batting-practice-style pitcher brought to the stadium. The team’s lineup for their games – two four-round games are guaranteed upon entry – will have four hitters, and at-bats are limited to eight swings or 35 seconds.

A hitter prepares to swing during a “Sluggball” tournament. (Sluggball / IMAGN)

Each game consists of four rounds of situation hitting, when points are scored by hitting the ball in accordance to each round’s situation. That would be the pull side, up the middle, opposite field and around the horn, depending on which side of the plate the hitter is on.

A batted ball only counts if it is hit to the outfield on the side the round is in and remains in fair territory. Most total team points in the round wins that round, and there is no need for running or field – only hitting.

Sluggball hosted an invite-only pilot event at the Trenton Thunder Ballpark in September 2024, when Phillies legend Larry Bowa was the onsite MLB ambassador, who spent time signing autographs and interacting with the participants. The event saw a great reception from the players and those who attended with them alike, leading to optimism heading into 2025.

“A guy who’s 65 years old who knows how to work the bat, he can score points in this situation,” Lofton said, referencing one of the pilot event player’s age. “You can hit the ball up the middle, you can hit the ball to left field, right field when it’s your time to do it. That’s what excited me.

“We know it’s BP, but again, I always say you got to learn how to work the bat. …Maybe Sluggball can get that opportunity to say, ‘Hey, this is also part of the game that’s important that got pushed away because of analytics and the Ivy League people.’”

Sluggball currently has six events available for registering, with “Opening Day” at the Trenton Thunder Ballpark on May 10. Fees are $1,795 per team, and it includes a two-game guarantee with a chance to play in the championship game for a $3,000 cash prize.

Players also get on-field team apparel, including UnderArmour shorts and a shirt and a hat from Branded Bills. Catered lunch and cash bar, post-event player performance analytics, signed memorabilia from the guest MLB alumni and more is in store for each team’s experience.

So, much like Top Golf, those still in love with the game can get those competitive juices flowing alongside others who want to do the same.

Team Cleveland’s Kenny Lofton swings at a pitch in the 2019 legends and celebrity softball game at Progressive Field. (Ken Blaze-USA TODAY Sports / IMAGN)

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While Sluggball is looking to bring back that lost art, it is also expanding the camaraderie the game of baseball naturally has.

“That’s one thing I miss about the game – the camaraderie to go out there every day and have fun with the guys because you guys are all like-minded,” Lofton said. “You got people who are like-minded and want to enjoy the game the way it is. Again, you don’t have to be the most athletic. You just have to know how to swing the bat and put the ball in different areas of the field and not worry about putting it out of the ballpark.”

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January 23, 2025

Pelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and Amazon

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Former House Speaker Nancy Pelosi, D-Calif., reported several stock trades on Inauguration Day that were made in December and early January involving several of the world’s largest tech companies, an industry her husband Paul has traded in before.

Congressional stock trading disclosures, known as periodic transaction reports, cover trades made by both the member of Congress and a spouse.

Ian Krager, a spokesperson for the former speaker, told FOX Business, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”

NANCY PELOSI’S HUSBAND SOLD MORE THAN $500K IN VISA STOCK AHEAD OF DOJ ACTION

Pelosi’s disclosure showed the purchase of 50 call options for Alphabet, the parent company of Google, along with 50 call options for Amazon, according to her latest periodic transaction report filed with the clerk of the House of Representatives.

Both sets of call options have a strike price of $150 and were valued between $250,001 and $500,000. Call options give investors the right to buy shares of a company at a specific price.

Ticker	Security	Last	Change	Change %
AAPL	APPLE INC.	223.83	+1.19	+0.53%
NVDA	NVIDIA CORP.	147.07	+6.24	+4.43%
GOOGL	ALPHABET INC.	198.37	+0.32	+0.16%
AMZN	AMAZON.COM INC.	235.01	+4.30	+1.86%

The disclosure showed the sale of 10,000 shares of Nvidia along with 31,600 shares of Apple on Dec. 31. After the sale, Paul Pelosi bought 50 more Nvidia call options on Jan. 14 that had a strike price of $80 in a trade that was in the range between $250,000 and $500,000. He also exercised 500 call options for Nvidia on Dec. 20 that had a strike price of $12 and were due to expire that day.

That trade was in the range between $500,000 and $1 million.

Former House Speaker Nancy Pelosi, D-Calif., reported new stock trades involving notable tech companies. (Chip Somodevilla/Getty Images / Getty Images)

The former speaker’s disclosure also noted several other investments that occurred in the last month, including that 140 call options were exercised for 14,000 shares of Palo Alto Networks at a strike price of $100 that were due to expire Dec. 20 in a trade reported as being between $1 million and $5 million.

Pelosi also disclosed the purchase of 50 call options of Tempus AI with a $20 strike price, as well as 50 call options of Vistra Corp. with a $50 strike price, on Jan. 14. The Vistra purchase was in the $500,000 to $1 million range, while Tempus was between $50,000 and $100,000.

Ticker	Security	Last	Change	Change %
VST	VISTRA CORP	186.85	+1.41	+0.76%
TEM	TEMPUS AI	50.45	+2.81	+5.90%

BIPARTISAN GROUP OF SENATORS REACHES AGREEMENT TO BAN LAWMAKERS FROM TRADING STOCKS

Former Speaker of the House Nancy Pelosi, D-Calif., and husband Paul Pelosi attend the Vanity Fair Oscars Party at the Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 10, 2024. (Michael Tran/AFP via Getty Images / Getty Images)

Investments made by Paul Pelosi have attracted scrutiny amid mounting calls for members of Congress and their immediate family members to be banned from stock trading.

Ticker	Security	Last	Change	Change %
V	VISA INC.	323.54	-0.07	-0.02%

Last fall, Paul Pelosi sold over $500,000 in Visa stock ahead of a Justice Department antitrust suit against the credit card giant. Earlier last year, an analysis estimated that he made the couple nearly $4 million in a six-month period off of Nvidia call options he bought in November 2023.

Lawmakers’ spouses can trade in companies or industries their partner may help regulate, but it’s illegal for members of Congress and their family members to profit from inside information.

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Members of Congress on both sides of the political aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock. Bipartisan bills to that end were developed in the Senate during the last Congress, but neither became law before the end of the 118th Congress, leaving the issue to the current Congress.

FOX Business’ Breck Dumas contributed to this report.

January 23, 2025

‘Ms. Rachel’ strikes deal with Netflix following conservative parents’ boycott

Evercore ISI senior managing director Mark Mahaney analyzes Uber and explains why he’s raising his Netflix price target on ‘Varney & Co.’

Parents looking for “Hop Little Bunnies” and other nursery rhymes by singer and songwriter Ms. Rachel to entertain their children will soon have another place to go besides YouTube.

Rachel Accurso has struck a deal with Netflix, and four episodes that “will include interactive lessons that teach letters, numbers, colors, shapes, and more” will be available for streaming on the platform starting on Monday, Jan. 27.

The episodes will be in English with subtitles available in 33 languages, Netflix says.

“With more than a billion views, Accurso has been described by some parents as their children’s Mister Rogers,” a press release states.

CONSERVATIVE PARENTS CALL TO BOYCOTT ‘MS. RACHEL’ OVER LATEST PRIDE MONTH VIDEO: ‘KIDS LOOK UP TO’ HER

“Ms. Rachel” is bringing her programming to Netflix on Jan. 27, 2025. (Netflix / Fox News)

Moms of toddlers are rejoicing on social media after the announcement was made.

“Thank God lol I’m so tired of my YouTube being filled with her,” one mom wrote in a Facebook group. “Now I can just go on Netflix.”

“Finally getting away from YouTube ads!” another chimed in.

“Omg I can cancel YouTube premium now,” a toddler mom wrote.

NETFLIX RAISES U.S. SUBSCRIBER PRICES, ATTRIBUTES SUCCESS TO ‘SQUID GAMES’ AND NFL GAMES PAUL-TYSON FIGHT

Aron Accurso and Rachel Griffin-Accurso, also known as Ms. Rachel, at Room To Grow’s 25th Anniversary Gala held at the Ziegfeld Ballroom on Oct. 25, 2023, in New York City. (John Nacion/Variety / Getty Images)

Accurso is a 42-year-old Maine native, according to Bangor Daily News. She has more than 13 million subscribers on YouTube, and millions follow her on Facebook, Instagram and TikTok, as well.

Last summer, the popular children’s YouTube creator sparked backlash on social media after she posted a video celebrating Pride Month – and issued a pointed message to parents who took issue with her remarks.

Ms. Rachel on Tuesday, Sept. 24, 2024. (Nathan Congleton/NBC / Getty Images)

The educational content creator, who is a viral sensation among babies and toddlers, seemingly anticipated fallout with some of her audience, then added, “To those who are going to comment, they can’t watch this show anymore because of this support, no worries and much love your way,” she said.

In 2023, Accurso said she was forced to take a “mental health break” after parents expressed outrage over her co-star Jules Hoffman asking to be referred to with the pronouns “they” and “them” on the show. Hoffman is transgender and non-binary.

Ms. Rachel attends the Sesame Workshop 2024 Benefit Gala at Cipriani 42nd Street on May 29, 2024 in New York City. (Jamie McCarthy / Getty Images)

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Accurso also came under scrutiny when she announced she was creating a fundraiser to benefit children in conflict areas, including Gaza. Jewish mothers called out the YouTube sensation for failing to address the murdered Jewish children or those taken hostage on October 7. Many others questioned why Accurso wasn’t raising money for Israeli children affected by the war. Accurso later disabled comments on the fundraiser post and put out a statement on Instagram.

Her Instagram bio currently links to the Palestine Children’s Relief Fund.

FOX News’ Yael Halon contributed to this report.

January 23, 2025
Major bank CEO says Trump’s fiscal policies makes US ‘the No. 1 place to invest’ again

Bank of America Chairman and CEO Brian Moynihan talks anticipating policy and regulation changes, the economic future in 2025, bank growth, rate trajectory and investment in artificial intelligence.

From mergers and acquisitions to deregulation and “competitive” tax structure, Bank of America’s top executive shared an optimistic picture of the U.S. economy under the second Trump administration.

“When you talk to the people around here, from all over the world, [in] business, it’s the No. 1 place to invest. Not by a little bit, by a lot,” BofA Chairman and CEO Brian Moynihan said of America’s economic landscape during a “Mornings with Maria” interview from the World Economic Forum in Davos, Switzerland.

“If you go back to the first Trump administration and the tax changes, that brought America’s tax rate down to where it was competitive. America always has… [a] big market, biggest economy in the world, growing, et cetera,” he continued. “America has good business conditions in terms of talent, people, worker flexibility, all those types of things.

“So you put all that together, it was a great place to invest. You go in and say now, I’m going to move the regulation back, and now I’m going to create even better conditions for investment.”

TRUMP’S DEREGULATION ‘CONSTRUCTIVE FOR GROWTH’: GOLDMAN SACHS C.E.O.

Bank of America kicked off Q4 earnings season with surging profits, reporting a double beat of $6.67 billion, as its investment banking fees saw a 44% increase to $1.7 billion.

Bank of America Chairman and CEO Brian Moynihan, inset, is optimistic about the economic environment under a second Trump administration. (FOXBusiness)

Much of the banking industry is expecting more M&A deals coming to market under President Donald Trump, while he also plans to pull back regulations that stymied transactional activity during the Biden administration.

Former Biden appointees from the Federal Trade Commission, Federal Communications Commission and the Justice Department’s Antitrust Division halted almost all M&A activity since his term began in 2021. Those who chose to defy the regulatory restrictions faced prolonged legal battles with the Biden deal police.

NYSE President Lynn Martin joins ‘Mornings with Maria’ to discuss market trends and her outlook for 2025 as the Trump administration takes office.

“We were sitting here last year, the issue of business inflation and interest rates, but another big issue was the amount of regulation in small and medium-sized companies, and in the banking system, and the mortgage companies. And the feeling is that it will now swing back to more normalcy,” Moynihan noted.

“It swung way too far in the last administration,” he added. “We tried to explain to them that was going to cause them troubles… But I think it’s more important that the general economy feels a little bit of relief on regulation across the board, the ability to get deals done, and American companies can now go out domestically and around the world and be the kings that they’re supposed to be.”

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President Donald Trump makes a major infrastructure announcement on his second day in office.

Moynihan explained that Bank of America’s top research team is expecting 2.4% GDP growth for the U.S. in 2025, the M&A pipeline being “full” and a 20% increase in IPOs.

“Therefore, that says the capital can be put to work. So all that bodes well,” the chairman and CEO said. “The enthusiasm by our team for what’s ahead is far greater than it was in the fourth quarter because that was sort of under the old regime.”

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FOX Business’ Eleanor Terrett contributed to this report.

January 23, 2025

Category: Business

U.S. COMPANIES WARNING ABOUT TARIFFS

Costco

Dollar Tree

Home Depot

Lowe’s

Walmart