Happy New Year 2025

Category: Business

Don Julio’s grandson Lalo González launches limited edition High Proof tequila

California Agave Council founding Director Craig Reynolds weighs in on tequila shortages and why several California distilleries are turning to Agave-based spirits on ‘Kennedy.’

Drawing from a desire to provide consumers with innovative products harvested exclusively from Mexico, one spirit brand is staying true to its commitment and producing only additive-free blanco tequila as the company continues to grow its product line amid shifts in the spirits’ category.

Eduardo “Lalo” González, grandson of Don Julio and co-founder of Lalo Spirits, unveiled High Proof, a limited-edition release of 108 proof (54% ABV) tequila blanco, which expanded the brand’s portfolio from one product.

“The High Proof is an undiluted version of our 80 proof,” González told FOX Business. “You have a tequila that is not watered down. All the flavors, aromas, the flavor profile of the juice, is kind of like on steroids. It’s highlighted even more.”

DON JULIO’S GRANDSON ON DRAWING FROM FAMILY, HERITAGE WHILE KICK-STARTING ADDITIVE-FREE TEQUILA BRAND

Lalo González launched Lalo Spirits with his childhood friend and co-founder, David Carballido. (Lalo Tequila / Fox News)

Cinnamon, cooked agave and tropical notes are among the pungent aromas found in a pour of High Proof.

“It’s very well-balanced,” González said.

High Proof is made with only three ingredients; agave sourced from the Jalisco highlands, water from the distillery’s well and champagne yeast.

“We did a test of four different yeasts and the one that kind of highlighted this balance that I wanted in the final product was champagne yeast,” González said.

TEQUILA EXPERT SHARES THE SECRET TO A SIMPLE, DELICIOUS COCKTAIL

Lalo González’s High Proof tequila is made with agave from Jalisco, Mexico, distillery well water and champagne yeast. (Lalo Tequila / Fox News)

With the help of his childhood friend and co-founder, David Carballido, González launched High Proof on digital shelves in late October 2024. The product sold out on the brand’s website within one week.

“We were like okay, we need more,” he said.

Today, consumers can purchase a second drop of High Proof, which retails for $74.99, online and in select stores and restaurants.

“It’s kind of giving us the North Star of how we should do it this year,” González said.

González revealed that because of High Proof’s success, the Lalo team is strongly considering limited edition releases a few times a year.

TEQUILA AND MEZCAL: WHAT’S THE DIFFERENCE?

Lalo González is the grandson of Don Julio. | Fox News

At the overwhelming request from consumers for an aged expression, González said he often finds himself drumming up new ideas and considering the possibilities of blanco.

“The consumer is looking for more crafty options, more authentic options in the realm of spirits and tequila obviously,” he said. “They’re being more, I don’t know if I’d call it picky, but they investigate more. They read more. They want to know more about what they’re drinking and eating and putting in their body.”

González said Lalo can shapeshift a multitude of limited edition products by exploring agave from a region outside of Jalisco, experimenting with cooking and extraction methods, types of yeast and the source of water, in order to expand.

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“Using rain water is possible, though challenging,” González told FOX Business. “I don’t know how sustainable it is.”

“It’s in the realm of possibilities for a limited release.”

January 23, 2025
San Francisco Centre Bloomingdale’s location closing

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Bloomingdale’s plans to shutter its massive store within the San Francisco Centre shopping mall in the coming months.

The brand, owned by Macy’s, said in a statement to FOX Business that the location within the mall “will remain open until late spring 2025” and then close its doors.

Bloomingdale’s location within the San Francisco Centre, a shopping mall near the city’s downtown Union Square area, spans nearly 339,000 square feet, according to a leasing brochure.

A shopper carries Bloomingdale’s bags in San Francisco on July 25, 2024. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

Bloomingdale’s also said that San Francisco “has been home to the brand for nearly two incredible decades” and that it was “hopeful to be back to serve the San Francisco community in the future and look[s] forward to introducing new ways to provide enhanced service to our loyal local shoppers.”

MICHAEL KORS CLOSES ITS DOWNTOWN SAN FRANCISCO STORE

The upcoming Bloomingdale’s exit, earlier reported by local media outlets, follows Michael Kors, a luxury brand known for its clothing and handbags, closing its store in the San Francisco Centre.

San Francisco Centre has lost tenants such as Adidas, American Eagle, J. Crew, Madewell, Aldo, Nordstrom and L’Occitane in recent years.

The Westfield San Francisco Centre shopping mall in San Francisco is seen on June 13, 2023. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

The mall remains home to Aritzia, Bath & Body Works, Coach, Kate Spade, Rolex, Ray Ban and Tumi, among others, according to its online store directory.

In June, the shopping mall said it had locked in leases for seven new companies. That included five for retail and two for offices, according to the San Francisco Chronicle.

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FOX Business reached out to Trident Pacific Real Estate Group, the firm that became the San Francisco Centre’s receiver in 2023, and JLL, the company listed on the mall’s website as managing the property, for comment on Bloomingdale’s leaving the location.

Mayor Daniel Lurie called Bloomingdale’s pull-out “disappointing” in an X post on Tuesday.

San Francisco took the top spot for the best city to visit during the Thanksgiving holiday in 2023, according to WalletHub. (iStock / iStock)

The broad Union Square area has faced its share of retail exits over the past couple of years. The reasons have varied, with some pointing to business conditions, lower foot traffic and shifts in the retail sector.

In the X post, Lurie added that he was “energized every day by businesses of all sizes opening and growing in our city” and that the city “continue[s] to work towards the revitalization of the city.”

“We are open for business here in San Francisco,” he said in an accompanying video. “We’re going to make sure downtown is safe and clean. We are going to start a new police task force focused on those people coming in for conventions, shoppers, visitors, making sure that they feel safe, just like we were able to do last week for JPMorgan’s healthcare conference and we will for the Lunar New Year parade celebrations and the NBA All Star Game.

A DOZEN WALGREENS STORES IN SAN FRANCISCO TO CLOSE

“There is a lot to look forward to in our city. We are going to get this right. You have my commitment that our department heads, my team are going to work tirelessly to make sure that we bring retailers, businesses, conventions back to San Francisco.”

January 23, 2025
Jamie Dimon talks tariffs: ‘Get over it’

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

JPMorgan Chase CEO Jamie Dimon said in a new interview that a small increase in inflation caused by the Trump administration’s tariff plans would be worthwhile in the service of national security concerns.

Dimon appeared on CNBC’s “Squawk Box” and said tariffs are an economic tool that can be used for a variety of reasons, and that while they could cause inflation, that would be acceptable if it helped the U.S. meet national security goals.

“I look at tariffs, they are an economic tool, that’s it. They’re an economic weapon, depending on how you use it and why you use it and stuff like that,” Dimon said.

“People are arguing, is it inflationary, is it not inflationary? I would put it in perspective — if it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it. National security trumps a little bit more inflation,” he said.

JAMIE DIMON WEIGHS IN ON TRUMP’S WIN, POLICIES HIS ADMIN SHOULD FOCUS ON

JPMorgan Chase CEO Jamie Dimon said inflation caused by tariffs that boost national security would be acceptable. (Aaron Schwartz/Xinhua via / Getty Images)

Dimon went on to say that the way the Trump administration might use tariffs to pursue more favorable trade terms or address national security issues is a more important question than whether they will cause inflation.

“But I think, really, the question is how they get used. Can they be used to bring people to the table? Yes. Is there some unfair trade? Yes. Is there some state-owned subsidies? Yes. Is the president going to use it that way and his team? Yeah, and we’ll see. But how it gets played out — we’re going to find out,” Dimon said.

Ticker Security Last Change Change %

JPM JPMORGAN CHASE & CO. 262.98 -0.18 -0.07%

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

President Donald Trump campaigned on sweeping tariff plans. (Bill Pugliano / Getty Images)

President Donald Trump campaigned on imposing an across-the-board tariff of 10% to 20% on all imported goods, as well as higher tariffs of up to 60% on goods imported from China.

While he didn’t implement those tariffs during his first two days in office, Trump told reporters at the White House on Tuesday that he’s planning to start with a 10% tariff on China that would take effect at the start of February.

“We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump said. “Probably Feb. 1 is the date we’re looking at.”

TRUMP’S TARIFFS ON MEXICO, CANADA: COMPANIES THAT HAVE RAISED ALARMS

President Donald Trump said he’s planning to start with a 10% tariff on China. (Kenny Holston/The New York Times/AFP via / Getty Images)

Trump also signed an executive order after taking office on Monday titled “America First Trade Policy” that directed the Commerce and Treasury departments to investigate the causes of annual trade deficits and the risks they pose and make recommendations about actions like tariffs to remedy trade deficits.

The order also instructed those agencies, along with the Department of Homeland Security (DHS), to design and implement Trump’s “External Revenue Service (ERS) to collect tariffs, duties, and other foreign-trade related revenues.”

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Trump intends for the ERS to collect tariff revenue from foreign sources, but economic experts have pushed back on that goal, noting that U.S.-based importers pay tariffs when their imported goods enter the country. Those tariffs are currently collected by U.S. Customs and Border Protection, a subagency of DHS.

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

January 23, 2025
Trump demands Putin end war in Ukraine or face tariffs on Russian imports

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 threatened tariffs on Russian imports to the U.S. if a deal isn’t struck soon to end the war in Ukraine.

“I’m not looking to hurt Russia. I love the Russian people, and always had a very good relationship with President Putin – and this despite the Radical Left’s Russia, Russia, Russia HOAX,” Trump wrote on Truth Social. “We must never forget that Russia helped us win the Second World War, losing almost 60,000,000 lives in the process.”

Trump continued, “All of that being said, I’m going to do Russia, whose Economy is failing, and President Putin, a very big FAVOR. Settle now, and STOP this ridiculous War! IT’S ONLY GOING TO GET WORSE. If we don’t make a ‘deal,’ and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries.”

TRUMP PLANS 10% TARIFFS ON CHINESE IMPORTS ON FEB. 1

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)

“Let’s get this war, which never would have started if I were President, over with!” Trump said. “We can do it the easy way, or the hard way – and the easy way is always better. It’s time to ‘MAKE A DEAL.’ NO MORE LIVES SHOULD BE LOST!!!”

Trump was asked in the Oval Office on Tuesday evening if he would add additional sanctions on Russia if Russian President Vladimir Putin did not negotiate a ceasefire deal with Ukraine soon.

“Sounds likely,” Trump responded, adding: “The war should have never started. If you had a competent president, which you didn’t, the war wouldn’t have happened. The war in Ukraine would have never happened if I were president.”

“Russia never would have gone into Ukraine. I had a very strong understanding with Putin that it would have never, ever happened,” Trump told reporters. “He disrespected Biden. Very simple. He disrespects people. He’s smart. He understands. He disrespected Biden.”

On whether the U.S. would continue sending military aid to Ukraine, Trump argued that America was contributing about $200 billion more to Kyiv than the European Union.

Russian President Vladimir Putin speaks during Russian-Iranian meeting at the Grand Kremlin Palace in Moscow on Friday. (Contributor/Getty Images / Getty Images)

RUSSIA SOUNDS OFF ON TRUMP’S THREAT TO RETAKE THE PANAMA CANAL

“We’re talking to [Ukrainian President Voldymyr] Zelenskyy. We’re going to be talking with President Putin very soon. And we’ll see how it all happens,” Trump said, adding, “I do feel the European Union should be paying a lot more than they’re paying… It affects them more than it affects us. We have an ocean in between, right?”

“The European Union should equalize. We’re in there for $200 billion more than the European Union. I mean, what are we, stupid? I guess the answer is yes, because they must think so,” he said.

The president was also asked when he would meet with Putin.

“Anytime they want, I’ll meet. I’d like to see that end,” Trump told reporters. “Millions of people are being killed — It’s a vicious situation. And now, largely soldiers. A lot of people have been killed in the cities. They look like demolition sites, buildings, massive buildings bombed and coming down. The thing with Ukraine is that many more people died than you’re reporting.”

Ukrainian soldiers from the 28th Infantry Brigade take part in tactical training exercises wearing gas masks in a rural area of Ukraine as the war between Russia and Ukraine continues on Tuesday. (Jose Colon/Anadolu via Getty Images / Getty Images)

Trump estimated that Russia has lost approximately 800,000 soldiers, and between 600,000 to 700,000 Ukrainian soldiers have been killed in the conflict.

His comments echo those he made a day earlier from the Oval Office when he accused Putin of “destroying Russia.”

“I think he’s destroying Russia by not making a deal,” Trump told reporters Monday hours after his inauguration. “I think Russia’s going to be in big trouble. You take a look at their economy. You take a look at the inflation in Russia. So I would — I would hope, I get along with him great, and you know, I would hope he wants to make a deal.”

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On Tuesday, Putin’s foreign policy advisor, Yuri Ushakov, told reporters that Moscow was “taking into account” Trump’s comments in the Oval Office, and the Russians are “ready and open for a dialogue with the new U.S. administration on the Ukraine conflict,” according to The New York Times.

“If the relevant signals come in from Washington, then we’ll pick them up and will be ready to hold negotiations,” Ushakov reportedly added.

January 23, 2025
Trump open to Elon Musk or Larry Ellison buying TikTok

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

President Donald Trump on Tuesday repeated his view that the U.S. should own half of TikTok and said he would be in favor of X owner Elon Musk or Oracle founder Larry Ellison purchasing the China-linked social media app.

During his first day in office on Monday, Trump issued an executive order granting TikTok more time to operate and work toward compliance with a law forcing the platform’s Beijing-based owner, ByteDance, to either divest the app to an American buyer or shut the platform down in the U.S.

Elon Musk, right, speaks with President Donald Trump. (Brandon Bell/Getty Images / Getty Images)

Trump was asked during a press conference announcing the massive Stargate AI infrastructure project, involving Oracle, OpenAI and Softbank, whether he would be open to Musk, his close ally, purchasing TikTok.

“I would be if he wanted to buy it, yeah,” the president replied, adding, “I’d like Larry to buy it, too,” nodding toward Ellison, who was present.

MAJOR BANK CEO SAYS TRUMP’S FISCAL POLICIES MAKE US ‘THE NO. 1 PLACE TO INVEST’ AGAIN

Trump said he met with the current owners of TikTok, and told the press, “I have the right to make a deal. So, the deal I’m thinking about…” then he turned to Ellison and said, “Larry, let’s negotiate in front of the media.”

Oracle founder Larry Ellison, right, listens to President Donald Trump speak in the Roosevelt Room of the White House in Washington, D.C., on Tuesday. (Jim Watson/AFP via Getty Images / Getty Images)

The president said the deal he is thinking about would involve someone buying TikTok and giving “half to the United States of America, and we’ll give you the permit, and they’ll have a great partner.”

TRUMP PLANS 10% TARIFFS ON CHINESE IMPORTS ON FEB. 1

After explaining the deal, Trump turned back toward Ellison and said, “Sounds reasonable. What do you think?”

Ellison replied, “Sounds like a good deal to me, Mr. President.” Trump then turned back to the press and said of Ellison, “He can afford it, too.”

‘Shark Tank’ investor Kevin O’Leary talks TikTok’s future, the Chinese government’s role with a ‘secret golden share’ and the role Trump could play in keeping the platform available in the U.S.

TikTok shut down its U.S. operations on Saturday, the day before its deadline to cease in accordance with the law. However, the platform restored U.S. operations on Sunday after Trump provided assurances that he would sign the executive order extending the deadline in order to reach an agreement that protects America’s national security.

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“By doing this, we save TikTok, keep it in good hands and allow it to [stay] up. Without U.S. approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars – maybe trillions,” Trump wrote in a social media post on Sunday. “Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership in a joint venture set up between the U.S. and whichever purchase we so choose.”

FOX Business’ Danielle Wallace contributed to this report.

January 23, 2025
Musk casts doubt on Trump-backed Stargate project: ‘They don’t actually have the money’

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

Business magnate and X CEO Elon Musk has cast doubt on whether there is enough funding available to follow through on a massive $500 billion artificial intelligence (AI) infrastructure project announced by President Donald Trump on Tuesday.

The new project, called Stargate, will see Softbank, OpenAI and Oracle join forces to build data centers in the U.S. for the further development of AI, which holds the promise of increasing productivity by automating work.

Larry Ellison, the chair of Oracle, also suggested that the project could make it easier to treat diseases such as cancer by possibly developing a customized vaccine by tying the technology with digital health records.

Elon Musk, right, has cast doubt on whether there is enough funding available to follow through on a $500 billion AI infrastructure project announced by President Donald Trump on Tuesday. OpenAI CEO Sam Altman, left, pushed back on Musk’s claims. (Getty Images / Getty Images)

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

The initial investment is expected to be $100 billion and could reach five times that sum. Microsoft, NVIDIA, investor MGX and the chipmakers Arm are also partners in the project.

“The Stargate Project is a new company which intends to invest $500 billion over the next four years building new AI infrastructure for OpenAI in the United States. We will begin deploying $100 billion immediately,” an announcement by OpenAI posted to X on Tuesday reads.

But Musk, who has had a fractured relationship with OpenAI CEO Sam Altman, suggested on X that the AI company does not have the cash to back up its announcement.

“They don’t actually have the money,” Musk tweeted on X in response to OpenAI’s post.

Musk then followed up his post by writing, “SoftBank has well under $10B secured. I have that on good authority.”

But Altman clapped back on Musk’s assertions.

President Donald Trump speaks in the Roosevelt Room at the White House in Washington, D.C., on Tuesday. (Jim Watson/AFP via Getty Images / Getty Images)

TRUMP URGING TIKTOK BAN HALT, LOOKS TO FOCUS ON AI IN SECOND TERM

“Wrong, as you surely know. Want to come visit the first site already underway?” Altman wrote.

“This is great for the country. I realize what is great for the country isn’t always what’s optimal for your companies, but in your new role I hope you’ll mostly put America first.”

Altman also appeared to dial the situation down, commending Musk for being one of “the most inspiring entrepreneurs of our time.”

In March, Tesla CEO Musk announced he was suing ChatGPT-maker OpenAI and Altman, among others, saying they had abandoned the company’s original founding mission to develop open-source artificial general intelligence technology for the benefit of humanity over profits.

Meanwhile, a source familiar with Stargate told FOX Business that Stargate is prepared to deploy the $100 billion immediately.

The source said that the companies in the venture are in a good position to make the investments with the equity coming from well-capitalized founding partners, additional equity from co-investors, as well as third-party debt and other sources.

OpenAI, SoftBank and Oracle are joining forces to build data centers in the U.S. for the further development of AI. (Dilara Irem Sancar/Anadolu via Getty Images / Getty Images)

For instance, SoftBank had $24.3 billion of cash on its balance sheet as of Sept. 30, 2024, per latest earnings. As for earnings, SoftBank’s loan-to-value stood at 12.5%.

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MGX is understood to have $100 billion in capital commitments, and Oracle has $11 billion cash on its balance sheet, while OpenAI recently announced a capital raise of more than $10 billion, per the source.

Microsoft CEO Satya Nadella on Wednesday said that Microsoft was committing $80 billion to the project when asked on CNBC about Musk’s comments.

“All I know is I’m good for my $80 billion,” Nadella said. “Customers can count on Microsoft with OpenAI models being there everywhere in the world, serving OpenAI models and other models.”

FOX Business understands that the companies involved in Stargate have not decided on how they will break down the commitments towards the $500 billion figure. Some may put down more than others into the project.

January 22, 2025
LIV’s Phil Mickelson ‘really excited’ about new TV deal with FOX as Year 4 of tour approaches

Six-time golf major champion Phil Mickelson discusses increasing the fan experience on ‘The Claman Countdown.’

In perhaps the biggest move for LIV Golf’s potential popularity, the league announced earlier this month a multiyear deal with FOX to have its tournaments broadcast on the network’s FOX Sports channels.

The league had previously been on The CW, but it continuously led to low ratings, despite more stars jumping ship from the PGA Tour.

The tour has even seen two of its golfers win major championships since the tour’s inception, with Brooks Koepka winning the 2023 PGA Championship and Bryson DeCheambeau taking home last year’s U.S. Open.

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Phil Mickelson tees off during the LIV Golf Invitational – Bangkok at Stonehill Golf Course on Oct. 7, 2022, in Pathum Thani, Thailand. (Peter Van der Klooster / Getty Images)

Koepka came close to winning the prior year’s Masters, but Jon Rahm took home the green jacket, then bolted to LIV that December on a deal rumored to be worth over $300 million.

The top stars of LIV are some of the game’s best, and six-time major champion Phil Mickelson, one of the first to join the tour, said he is “really excited” for the new TV deal.

“FOX has always been on the forefront of innovation and cutting edge fan experience and audience experience, and that’s exactly what LIV is trying to do with the golf world,” Mickelson told FOX Business’ “The Claman Countdown” on Wednesday. “It’s helping us create a lot of value for our sponsors, and sponsors are coming more now with the value that FOX brings. And hopefully, it’ll be added value for FOX and be consistent with that cutting edge, innovative, younger target audience.”

Phil Mickelson plays his shot from the 12th tee during the second round of the LIV Golf Miami tournament at Trump National Doral. (Sam Navarro-USA Today Sports / IMAGN)

Mickelson added that LIV Golf brings a new attitude to the sport.

“We’re trying to become an added value to the golf ecosystem. The old model was not getting the younger players involved, it wasn’t a global model. We’re the first global model for golf. We’re able to bring the best players, best teams throughout the world. That hasn’t been the case, so we’re trying to help grow the game on a global basis. We’re all additive. We’re all in this together. We want to grow the fanbase, we want to grow the game around the world,” said Mickelson

“The PGA Tour’s done a great job for many years, but it’s a national centric-based model, where we’re much more global, we’re much younger target audience, much younger in different demographics we’re trying to hit. We’re trying to make the fan experience on site much more enjoyable. We’re additive rather than competitive.”

Phil Mickelson plays his shot during the second round of the LIV Golf Bedminster tournament at Trump National Bedminster. (Vincent Carchietta-USA Today Sports / IMAGN)

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The fourth LIV season kicks off in Riyadh, Saudi Arabia, on Feb. 6.

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January 22, 2025
Shelling out: Egg prices up nearly 37 percent

Cameron Mitchell Restaurants founder and CEO Cameron Mitchell unpacks the impact of the the disease on the cost of goods on ‘The Claman Countdown.’

Those shopping for their daily breakfast essentials may notice an increase in the total on their grocery store receipts.

The Consumer Price Index shows egg prices are up 36.8% from this time last year.

The average price of a dozen Grade A large eggs was $4.15 in December, an almost $2 increase from the $2.51 per dozen in December 2023, according to the U.S. Bureau of Labor Statistics.

Large amount of Cage Free eggs at a Costco store in Florida. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images / Getty Images)

HERE’S WHY GROCERS ARE REALLY RAISING PRICES

One of the largest reasons for the increase is the recent bird flu outbreak.

The Highly Pathogenic Avian Influenza (HPAI) was either directly or indirectly responsible for killing more than 20 million egg-laying hens in the last quarter of 2024, according to the U.S. Department of Agriculture.

Farms are required to cull all birds in an infected flock, devastating the egg industry.

EGG PRICES ARE HIGHER AND WILL CONTINUE INTO 2025

Another factor could be new cage-free laws that started affecting states like Michigan at the beginning of the year.

While Michigan lawmakers modified the Animal Industry Act in 2019, it went into effect at the start of the new year – requiring sold shell eggs to be from cage-free housing systems.

The law also prohibits business owners from selling eggs from egg-laying hens that do not have usable floor space, or those that are confined.

Test tubes labelled “Bird Flu” and eggs are seen in this picture illustration. (Reuters/Dado Ruvic / Reuters Photos)

Some estimations indicate the average price of a dozen large eggs could be nearly $5 by the end of 2025, which would be the highest-ever recorded average price for a dozen eggs, Fox News Digital reported. The price of eggs in California has reached nearly $9 per dozen in some areas.

The highest price recorded was in January 2023, when the average price of a dozen large eggs was $4.82. Months later, the price dropped just a little over two dollars.

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To keep costs down, experts suggest buying eggs in bulk, and shopping around for the best prices.

January 22, 2025
CNN to lay off ‘hundreds’ of staffers in first days of second Trump presidency: reports

Fox News contributor Steve Hilton reacts to JD Vance’s exchange with CNN’s Jake Tapper over the real issues facing Americans on ‘The Big Money Show.’

CNN is reportedly set to lay off “hundreds” of employees in the early days of President Trump’s second administration.

Puck reported CNN CEO Mark Thompson will announce to his staff about the network cuts on Thursday morning while CNBC reported that the layoffs “won’t affect CNN’s most recognizable names, who are under contract,” according to sources.

CNN did not immediately respond to a request for comment.

Fox News Digital previously reported in November that CNN would face major layoffs by March and that its impact on the network would be “very meaningful.”

CNN STAFFERS ‘DEEPLY FRUSTRATED’ AS LOOMING BUDGET CUTS, LAYOFFS SET TO IMPACT STRUGGLING NETWORK

CNN is reportedly set to lay off “hundreds” of employees in the early days of the second Trump administration. ( Elijah Nouvelage/Bloomberg via Getty Images)

“I am overall very sad and deeply frustrated,” the longtime CNN staffer told Fox News Digital. “Feelings which are pervasive throughout the organization among those who have been here a long time and feel a deep personal connection to having helped build the organization.”

“It’s a time of a complete and utter business model overhaul and chaos. Extremely difficult even under the best circumstances,” the CNN staffer added.

PLAINTIFF IN CNN DEFAMATION TRIAL CELEBRATES ‘VINDICATION’ FOLLOWING COURTROOM DRAMA: ‘I’M GLAD IT’S OVER’

Another CNN employee cited Thompson, who has been on the job for just over a year and has been outspoken about how the company will have to undergo big changes to survive.

“I am worried because the industry is obviously in trouble… I’m sure there will be cuts,” the second CNN staffer told Fox News Digital.

Fox News Digital previously reported that CNN staffers was bracing for mass layoffs to be implemented by March. ( John Greim/LightRocket via Getty Images) / Getty Images)

The employee suspected “more shows will be streamlined and produced out of Atlanta” and that those impacted the most are the “expensive” shows being produced in New York City.

CNN’s financial struggles were put under the spotlight last week after a jury found the network had defamed a Navy veteran and approved that he could seek punitive damages. The legal battle resulted in a settlement.

CNN DEFAMATION TRIAL: LOSING CASE EXPECTED BUT STILL A BAD BRUISE FOR THE NETWORK, INSIDER SAYS

Forensic economist Robert W. Johnson, who was hired by the plaintiff’s legal time to assess CNN’s finances, testified CNN was worth $4.4 billion in 2021 but dropped to $2.3 billion in 2023, according to provided tax documents from the network.

Johnson’s data also showed that CNN’s revenue dropped from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net income over the same period dropped from $0.6 billion in 2021 to $0.4 billion in 2023.

Forensic economist Robert W. Johnson analyzed CNN’s declining revenue during a defamation trial against the network last week. (Fox News Digital / Fox News)

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Fox News’ Brian Flood contributed to this report.

January 22, 2025