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- Nike faces class action lawsuit accusing it of pocketing tariff refunds while ch...
Nike is facing a new class action lawsuit accusing the company of failing to refund tariff-related costs it passed on to consumers through higher prices.In the proposed lawsuit, consumers argue Nike should not be allowed to keep "significant" refunds it may receive after the U.S. Supreme Court ruled in February that the president lacked authority under the International Emergency Economic Powers Act (IEEPA) to impose certain tariffs.Nike has said it paid roughly $1 billion in tariffs on imported goods as a result of those actions. Plaintiffs allege the company raised prices on some footwear by $5 to $10 and on some apparel by $2 to $10 to offset those costs."Nike has made no legally binding commitment to return tariff-related overcharges to the consumers who actually paid them," the complaint, filed in federal court in Portland, Oregon, states.TRUMP RAMPS UP TARIFFS ON EUROPEAN CARS IMPORTED INTO US"Unless restrained by this court, Nike stands to recover the same tariff payments twice — once from consumers through higher prices and again from the federal government through tariff refunds," the complaint continues.The lawsuit is one of several filed against major companies, including Costco, alleging they failed to pass tariff-related refunds on to consumers.More than 2,000 companies have filed suits in the U.S. Court of International Trade seeking to recover tariffs paid on imported goods.TRUMP SAYS KING CHARLES ‘GOT ME TO’ DROP WHISKY TARIFFS AFTER ROYAL VISITDuring a March conference call, Nike said its fiscal quarter ending in August 2026 would likely be the final period in which tariffs materially impact gross margins.The lawsuit comes weeks after Nike announced plans to lay off roughly 1,400 employees across its Global Operations team.In a memo to staff, Chief Operating Officer Venkatesh Alagirisamy said the cuts would primarily affect the company’s technology division across North America, Asia and Europe, representing just under 2% of its global workforce.CLICK HERE TO GET FOX BUSINESS ON THE GONike declined to comment to FOX Business.FOX Business' Eric Revell and Reuters contributed to this report. [TheTopNews] Read More.2 hours ago - U.S. Targets Iran’s Missile and Drone Program With Sanctions
The new measures are focused on Chinese companies that supply Iran’s military with materials to make drones. [TheTopNews] Read More.4 hours ago - Tesla recalls Cybertrucks over fears wheels could fall off while drivingTesla is recalling Cybertrucks over concerns their wheel studs could separate, potentially causing wheels to fall off, according to the National Highway Traffic Safety Administration (NHTSA).According to the report, the recall affects Cybertrucks with the base 18-inch steel wheels that were sold between 2024 and 2026. Only 173 vehicles were recalled in total.The issue stems from the brake rotors, with the report stating that more severe road conditions "may strain" the stud holes in the wheel rotor, causing cracks to form. If the cracks persist and worsen, it may result in the wheel detaching entirely.Tesla said the issue traces back to pre-production testing in 2025, which identified that the geometry of the wheel hub and bearing could contribute to rotor cracking. Although early testing found no loss of vehicle function or control, engineers determined that continued use under strain could eventually lead to separation of the wheel stud from the hub.TESLA RECALLS MORE THAN 218K VEHICLES OVER REARVIEW IMAGE ISSUE THAT POSES CRASH RISKThe company said planned durability improvements to the brake rotors were not incorporated when production began on Aug. 28, 2025, due to a change management error.Tesla later identified a single real-world case in October 2025 in which a customer reported braking vibrations, and cracked brake rotors were found during a service inspection. The rotors were replaced, and the company said no crashes, injuries or fatalities have been linked to the issue.The report warns that early signs a vehicle may be affected include vibrations or unusual noises from the wheels while driving.As of April 14, Tesla had identified three warranty claims that may be related to the condition and said it initiated the recall out of an abundance of caution. FORD RECALLS OVER 179,000 BRONCO AND RANGER VEHICLES OVER SEAT DEFECTAll Tesla stores and service centers were notified of the recall on April 20, with notification letters set to be sent to owners on June 20.A representative for Tesla did not immediately respond to FOX Business' request for comment.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe recall comes days after Tesla announced a separate recall of more than 218,000 vehicles over a rearview camera issue that could delay image display and increase crash risk, according to NHTSA.FOX Business' Landon Mion contributed to this report. [TheTopNews] Read More.4 hours ago
- LARRY KUDLOW: Forget the lefty rabble babble, the Trumpian economy is boomingFor all of that left-wing press rabble babble about the Trumpian economy, also known as the great American economy, nearly all of the numbers coming in this spring are showing strength and resilience. Yes there is a war going on, yes gasoline and other energy prices have jumped up because of that war, but it’s very hard to find negative consequences from the Iran energy war shock.Of course that’s all the lefty press ever writes about, but the lefties are gonna be very disappointed that there is no recession in sight. Indeed, the Atlanta Fed GDPNow is predicting 3.7 percent annual growth in the second quarter. And today’s jobs number is yet another example of a strong economy. It beat expectations by twice as much.Private sector pay rolls jumped 123,000, following last month’s gain of 190,000. Those are big numbers. The unemployment rate is still at 4.3 percent. That’s virtually a full employment number.We don’t need hundreds of thousands of jobs each month anymore because the borders are closed. And the so-called break even rate of job growth could be something near zero. Indeed, a good 3 million illegal immigrants have left the United States either through self-deportation or criminal deportation. Anyway, while President Trump has reduced the federal workforce by 345K, the private workforce has moved ahead by nearly that much in just the last 2 months.Weekly unemployment claims continue at rock bottom. And interestingly it’s the nonsupervisory production workers who have done the best over the past year. Their hourly earnings have increased 3.7 percent while their hours worked have jumped 1 percent. Now what economists call the wage-income proxy, which adds earnings to hours worked, is now showing a 4.7 percent increase. The blue-collar folks are doing better than the white-collar folks.And the 4.7 percent total wage income gain is still way better than the roughly 3 percent inflation rate favored by the Federal Reserve. And even much more ahead of the 2.7 percent median consumer price index from the Cleveland Fed. Or the 2.4 percent trimmed mean from the Dallas Fed.Nobody’s thrilled about the energy shock, including myself, but I still believe it will be temporary. And I still believe it’s a small price to pay to the gruesome and barbaric Iranian regime, probably the worst government we’ve seen since the Nazis of a hundred years ago to get rid of all of them.Anyway, the Institute… [TheTopNews] Read More.6 hours ago
- Novo Nordisk’s oral Ozempic and Wegovy pills now available for same-day de...Novo Nordisk’s oral versions of its blockbuster weight-loss drugs, Ozempic and Wegovy, are now available for same-day delivery on Amazon.Novo Nordisk CEO Mike Doustdar said on "The Claman Countdown" Friday the once-daily pill versions of the company’s highly popular treatments have been a major success."It’s an exciting time, I would say, for the patients that can get access to these products when they want it and as fast as possible," he told FOX Business."I think it's really nice that, right now, people can have both Ozempic injection, as well as Ozempic pill."FIRST GLP-1 PILL FOR WEIGHT LOSS, DIABETES SHOWS SUCCESS IN LATE-PHASE TRIALThe Ozempic pill launched last week, following the January debut of an oral version of Wegovy, which has delivered strong results, generating more than $350 million in first-quarter sales."This has been the best product launch in the last decade that we have seen. And I'm incredibly excited," Doustdar said. "We have seen in 16 weeks time, since we have launched it, more than one million patients [who] have tried it."Ozempic is prescribed for patients with Type 2 Diabetes, while Wegovy is used to treat obesity. Both treatments were originally made as weekly injectables, but the newer oral versions are a once-daily pill.HHS SEC ROBERT F KENNEDY JR: AMERICAN PATIENTS PAY MORE SO OTHERS CAN PAY LESS — THAT STOPS NOW"I would say Wegovy’s pill will be the one that will be the flagship, but the Ozempic pill on the back of an iconic brand name, of course, will also find its good space," Doustdar said.Novo Nordisk was one of the first to work with the Trump administration to lower the costs of prescription drugs and Doustdar said lowering prices was important to ensure fair access."We were very happy that we were able to make a deal with the Trump administration, and mainly because our job is to really make sure that these innovative medications get access, and they don't become a product just for the rich. They become the product for everyone," the CEO said."I would say lower prices have provided us with more patients and more volume. While short term, this is hurting our business. Longer term, it's the right thing to do."While Ozempic and Wegovy are known for inducing weight loss, Doustdar highlighted the drugs’ broader benefits for cardiovascular, kidney and liver health – most notably, their ability to cure scarring in patients with fatty liver… [TheTopNews] Read More.6 hours ago
- Lawsuit Accuses Lucky Strike of Building a Bowling MonopolyThe suit, filed by bowlers from several states, accuses Lucky Strike Entertainment of driving up prices and diminishing customers’ experiences across the country. [TheTopNews] Read More.6 hours ago
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