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- DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s ...
The Department of Justice is investigating transactions tied to a business network linked to Iranian Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report.Bloomberg reported federal investigators are examining how companies connected to Khamenei built a global investment portfolio with transactions involving Wall Street firms including JPMorgan Chase and Citigroup.The reported probe is part of a broader Justice Department investigation into alleged money laundering and corruption involving entities tied to Khamenei, according to Bloomberg, which cited people familiar with the matter.DOJ CLEARS PARAMOUNT-WARNER BROS MERGER AFTER 8-MONTH ANTITRUST PROBE, SAYS DEAL COULD BOOST COMPETITIONJPMorgan Chase, Citigroup and the Department of Justice did not immediately respond to FOX Business' requests for comment.Investigators are reviewing the role U.S. financial institutions may have played in processing or facilitating transactions linked to the network, though Bloomberg reported the investigation does not necessarily mean charges will be filed.The reported inquiry comes as the Trump administration has intensified pressure on Iran and sought to crack down on sanctions evasion and illicit financial activity tied to Tehran and its leadership.JPMORGAN CHASE LAUNCHES AMERICAN DREAM INITIATIVE TO EXPAND SMALL BUSINESS SUPPORT ACROSS THE USThe investigation could place renewed scrutiny on how major financial institutions identify and monitor potentially sanctioned entities operating through complex international ownership structures and investment vehicles, a longstanding challenge for global banks and regulators.Bloomberg reported that investigators' primary focus is Khamenei and the network of businesses tied to him rather than the banks themselves.GET FOX BUSINESS ON THE GO BY CLICKING HEREKhamenei became Iran's supreme leader after his father, Ayatollah Ali Khamenei, was killed in a joint U.S.-Israeli airstrike. As Iran's highest-ranking authority, he has final say over major state decisions, including foreign policy and the country's nuclear program.The reported investigation comes amid heightened tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian regime. [TheTopNews] Read More.30 mins ago - Lauren Sánchez plays major role in deploying Bezos’ full $10 billion clim...Over the last year, Lauren Sánchez Bezos has become a key player in determining which organizations and causes get donations from Jeff Bezos' $10 billion climate change fund.According to Fortune, Sánchez Bezos has served as the vice chair of the Bezos Earth Fund since its early days in 2020, when she was the girlfriend of the Amazon multi-billionaire.The fund, the largest contribution any individual has ever made to the environment, according to Northeastern University, is obligated to deploy all $10 billion by the end of the decade. So far, it has cut checks toward 335 grants, totaling $2.4 billion, according to the fund's website. Since Sánchez Bezos married her now-husband last year in a star-studded affair in Venice, she has become a more public-facing leader of the fund, often announcing new donations.LAUREN SÁNCHEZ BEZOS DEFENDS RISQUÉ TRUMP INAUGURATION LOOK AFTER BACKLASHIn September 2025, she touted that the fund had disbursed $37.5 million in grants to protect 835,000 square miles of water surrounding a dozen nations in the Pacific Ocean. The initial amount was part of the fund's $100 million commitment to what she called "one of the boldest ocean conservation efforts ever attempted.""The Pacific isn’t just a beautiful backdrop, it’s a lifeline," Sánchez Bezos said in a statement at the time. "Pacific Island nations and territories are setting the pace. We’re here to match that ambition and help turn it into protection at scale."In October, she announced $30 million in awards to 15 teams who won the fund's "AI for Climate and Nature Grand Challenge." Each team received $2 million to jump-start their use of artificial intelligence to solve problems such as biodiversity loss and food insecurity."AI can be a powerful ally to help make the world a better place," said Sánchez Bezos. "These innovators, using AI, are showing us new possibilities by reimagining how we grow food, protect wildlife, and power our planet to make a true impact."Other than environmental causes, Sánchez Bezos said in December that she and her husband committed $102.5 million to organizations fighting homelessness across the United States. That money comes from the Bezos Day One Families Fund, which has so far donated more than $850 million to outfits in all 50 states, Washington D.C., Puerto Rico and Guam.JEFF BEZOS' GLOW-UP AND LAUREN SÁNCHEZ'S TRANSFORMATION OVER THE YEARS: PHOTOSThe Day One Families Fund is a portion of the total $2 billion Bezos and his wife plan… [TheTopNews] Read More.35 mins ago
- Americans’ 401(k) balances hit record levels in 2025Americans' contributions to their 401(k) savings accounts hit record highs in 2025, according to a new report from Vanguard. Among employees with active 401(k) accounts in both December 2024 and December 2025, median account balances increased by 27%, according to the report, titled How America Saves 2026. Of those same participants, 94% saw an increase in their account balances, reflecting both a rise in contributions and strong returns from markets, according to the report. COULD THE VANGUARD S&P 500 ETF BE YOUR TICKET TO BECOMING A STOCK MARKET MILLIONAIRE?The average account balance for a Vanguard 401(k) was $167,970 in 2025, a near $20,000 increase from the 2024 average of $148,153. The median account balance, meanwhile, also increased year over year, rising from $38,176 in 2024 to $44,115 in 2025. One factor the report cites as a potential impact on the higher contributions is a shift in automatic employee enrollment. BEWARE THE TICKING TIME BOMB HIDING IN YOUR 401(K)Some employers have shifted to automatically enrolling employees in 401k plans, with the share of Vanguard-defined contribution plans using automatic enrollment sitting at 61% in 2025 compared with just 10% in 2006. By reframing an employee's decision into opting out, rather than voluntarily opting in, employers encourage significantly stronger participation in retirement plans, according to the report. "With an autopilot design, individuals are automatically enrolled into the plan, their deferral rates are automatically increased each year, and their contributions are automatically invested in a balanced investment strategy. In such a plan, the decision to save is framed negatively: ‘Quit the plan if you’d like.' And ’doing nothing; leads to participation in the plan and investment of assets in a long-term retirement portfolio," the report states.Employees deferred a similar percentage of their total incomes into plans in 2025 when compared with 2024, though deferral rates have broadly trended up in the last decade.LABOR DEPARTMENT'S PROPOSAL IS A 'HUGE STEP' FOR YOUR 401(K), BLACKROCK'S NEFOUSE SAYSThe average deferral was 7.6% of an employee's income in 2025, the same as it was in 2024, per the report. The median rate was 6.6% in 2025 compared with 6.7% in 2024. A quarter of all participants had a deferral rate of over 10% of their incomes. That compared with just 20% of participants deferring more than a tenth of their income in 2016, the report noted. GET FOX BUSINESS ON THE GO BY CLICKING HEREThe report wasn't all positive. Hardship withdrawals increased for the fourth straight… [TheTopNews] Read More.1 hour ago
- Mortgage rates fall to lowest level in over a month as Iran deal framework takes...Mortgage rates fell this week to the lowest level in more than a month, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage declined to 6.47% from last week's reading of 6.52%. The average rate on a 30-year loan was 6.81% a year ago.INCOME NEEDED TO AFFORD A MEDIAN-PRICED HOME HAS NEARLY DOUBLED SINCE 2020, REPORT FINDS"Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve," said Sam Khater, Freddie Mac's chief economist.The average rate on a 15-year fixed mortgage fell to 5.81% from last week's reading of 5.84%.Rates have been elevated of late as concerns over the Iran war weighed on markets. On June 17, President Donald Trump signed a memorandum of understanding while attending meetings in France, while Iran signed remotely. The temporary framework calls for an immediate cessation of hostilities, the reopening of the Strait of Hormuz, limits on Iran's enriched uranium stockpile and a 60-day window to negotiate a permanent agreement addressing Tehran's nuclear program.MEDIAN US HOME PRICE PROJECTED TO HIT $1 MILLION BY 2050 – RIGHT AS MILLENNIALS RETIREThe deal also includes provisions to ease economic pressure on Iran, including access to some frozen assets and the lifting of certain restrictions, while drawing criticism from some conservatives who argue the agreement offers too many concessions without requiring Iran to immediately dismantle its nuclear infrastructure."The previous weeks have been filled with constant back-and-forths, showing progress toward a resolution, only to be followed by heightened military action," said Realtor.com senior economist Anthony Smith. "However, the latest rounds have proven more promising than previous periods of reprieve, as a tentative deal has now been drafted and now signed by President Trump."MIDWEST AND SOUTHERN STATES DOMINATE HOUSING REPORT CARDS: SEE HOW YOURS SCOREDMortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed's interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.45% as of Friday afternoon.The U.S. central bank on Wednesday announced that it will hold interest rates steady due to concerns about elevated inflation amid the war in Iran, as new Federal Reserve Chairman Kevin Warsh's tenure leading the central bank begins in earnest.Fed policymakers voted 12-0 to leave the… [TheTopNews] Read More.3 hours ago
- M&M’s set August launch for dye-free candies, with 2 colors absentM&M's makers Mars will debut artificial dye-free candies in August in a Make America Healthy Again (MAHA)-compliant move after facing pressure from Health and Human Services (HHS) Secretary Robert F. Kennedy Jr.But while the classic candy-maker was able to use natural sources like beets or turmeric to replicate colors like red and yellow, shades of blue have proven considerably more difficult and expensive to recreate naturally. Mars has been replicating blue and brown's artificial coloring using spirulina extract, a concentrated blue-green algae powder, but the substance is prohibitively expensive.Turmeric, for example, is available in bulk from most wholesalers for prices in the $9-$11 per lb. range. Spirulina, by contrast, can be significantly more expensive. The raw supplement can cost up to $20 per lb. at similar wholesalers, while the concentrated form most often used for food dyes is often priced at over $100 per lb. THESE POPULAR FOODS ARE AFFECTED AS COMPANIES ALIGN WITH TRUMP ADMIN'S 'MAHA' INITIATIVEFurthermore, spirulina's viscous nature has caused clogging in M&M's factory spray nozzles and created film build-ups in manufacturing equipment, creating a potential safety and health hazard, The Wall Street Journal reported. The high costs associated with MAHA-ifying its products have driven Mars into a colorful dilemma, according to the Journal. Wanting to debut its altered product ahead of the company's 85-year anniversary in August, Mars has spent millions in an effort to find alternatives.Given the high costs of reproducing blue, Mars considered just rolling out a three-color mix of red, orange and yellow, but executives felt "the sunset vibes were too strong," the Journal reported.Anton Vincent, the leader of the company's North American snacks division, told the Journal the replacement effort "was a daunting situation," adding, "you’re messing with an 85-year-old icon."WALMART ELIMINATING SYNTHETIC DYES FROM ITS PRIVATE-LABEL FOOD BRANDSMars had originally announced a plan to offer artificial dye-free products in 2016, but reversed the decision after announcing customers didn't seem to care. But, thanks to a Kennedy-led push to pressure companies to ditch artificial materials, Mars again announced in 2025 they would be pivoting to natural dye options. Kennedy Jr. has frequently criticized the use of artificial dyes in U.S. food products, calling them a key driver in numerous American health epidemics."When we look at these nine specific food dyes, the science shows a clear, undeniable link to behavioral disruptions in our kids and long-term cancer risks. We are systematically clearing them out," he said in a… [TheTopNews] Read More.4 hours ago
- O’Leary extends Ryanair contract in deal that could net him over £130m
The Ryanair boss extends his contract to 2032, in a deal featuring a bonus scheme that could earn him more than €150m (£130m). [TheTopNews] Read More.5 hours ago
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