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Johnson & Johnson is betting big on America, crediting Trump tax policies, top talent and a strong investment environment for inspiring a $55 billion U.S. investment push that spotlights growing confidence in U.S. manufacturing."We have the best talent, we have the best investment environment and, very importantly, we have now the tax policy enacted with this administration that has enabled us to be competitive," CEO Joaquin Duato said on FOX Business' "Mornings with Maria" on Tuesday."We're playing with a hand tied to our back compared to companies that were domiciled outside of the U.S.""Now we can create high-skilled jobs, we can invest in America, and we can be competitive," he added.MEDICAL DEVICE GIANT HIT BY GLOBAL NETWORK DISRUPTION AFTER CYBERATTACK POSSIBLY LINKED TO PRO-IRANIAN GROUPDuato told "Mornings With Maria" that the company's goal is to manufacture all its medicines, medical technologies and more in the U.S., touting the move as a "show of confidence in American manufacturing."Johnson & Johnson's recent endeavors also include a more-than-$1 billion investment in a U.S. Vision manufacturing facility in Jacksonville, Florida.While discussing such investments, Duato reiterated Johnson & Johnson's role in medical technology and pharmaceuticals, distinguishing those businesses from the company's former consumer health segment.REPUBLICANS SUBPOENA PFIZER EXEC OVER TIMING OF COVID VACCINE CLINICAL TESTS"We are now focused on science and innovation. So what is our goal now? Our goal is to continue to deliver sustained growth through patient breakthroughs," he said.Duato pointed to a recently-approved medicine called Icotyde, a once-daily oral treatment for psoriasis and psoriatic arthritis with efficacy and safety designed to rival injectable biologics.He said the development will "transform... autoimmune diseases."GET FOX BUSINESS ON THE GO BY CLICKING HEREOn the medical technology side, the company is seeking approval for its first robotic surgical system, which aims to improve surgical outcomes by assisting surgeons."We are not a one-trick pony company. We're a company with a stable of blockbusters," he said."We have 28 platforms at Johnson & Johnson of more than $1 billion, so that gives us the confidence to be so bold to say we have line of sight to double-digit growth for Johnson & Johnson by the end of the decade, and that is remarkable for a company which is more than $100 billion." [TheTopNews] Read More.

SpaceX stock continued to surge on Tuesday following its record-setting IPO last week, with the company's market capitalization surpassing tech giants Amazon and Microsoft to become the fourth-largest company in the world by valuation.Elon Musk's SpaceX debuted on the Nasdaq on Friday following its IPO and shares have risen about 35% since it began trading last week, as traders look to capitalize on its momentum.Tuesday saw SpaceX's stock climb over 13% in early trading which pushed the company's market cap beyond the $2.66 trillion valuation for Amazon and Microsoft's $2.93 trillion market value.This is a developing story. Please check back for updates.  [TheTopNews] Read More.

China is allegedly orchestrating a highly coordinated, "travel agency"-style operation designed to funnel Chinese nationals across U.S. borders, former Department of Homeland Security Secretary Kristi Noem said Tuesday.Speaking exclusively on FOX Business’ "Mornings with Maria," the current Special Envoy for the Shield of the Americas detailed intelligence she said showed how alleged Beijing-backed networks provide undocumented migrants with specialized documents and transit directly to the northern and southern borders."We saw very coordinated attacks of people coming into this country from China," Noem said. "Countries that I have worked with in Latin and South America have told us how they had Chinese operations set up for people to fly into their countries, almost like a travel agency would be."EX-WHITE HOUSE ‘AI CZAR’ WARNS U.S. COULD LOSE AI RACE TO CHINA IF WASHINGTON OVERREGULATES"They would show up, be handed certain documents, a backpack, get on a bus and then bus straight up over our southern border… And overwhelmingly, the testimonies have been that they were the same aged individuals, young, mainly men, some females, but very much a coordinated attempt to get individuals into our country, to change our country," she added.Republicans have warned for years about a record number of Chinese immigrants crossing the border, with reports of more than 22,000 encounters involving Chinese nationals at the southern border since late 2023.U.S. intelligence and the DEA have also repeatedly said that the vast majority of illicit fentanyl precursor chemicals originate in chemical factories inside China before being shipped to Mexican cartels for processing and trafficking."They have facilitated that," Noem said. "I wouldn't say, necessarily, we found ties to it officially, right to the government, but absolutely, Chinese businesses, those tied to the CCP, those individuals working with the cartels to make sure that the product gets into the United States.""And remember, China has a thousand-year plan to destroy the United States. They don't just build up their military. They don't just manipulate their currency, harm us with trade practices," she said. "They have a plan to kill our country from the inside by killing off our next generation of Americans. They will use every tool that they have."GET FOX BUSINESS ON THE GO BY CLICKING HERENoem, the former South Dakota congresswoman and governor, was ousted from her top DHS position on March 5. Noem’s tenure marked a distinct reversal of the open-border policies permitted by predecessor Alejandro Mayorkas during the Biden… [TheTopNews] Read More.

Yum Brands announced on Tuesday that it is selling Pizza Hut to private equity firm LongRange Capital for $2.7 billion.The transaction would mark a significant shift for one of America's most recognizable pizza chains and underscores growing consolidation across the restaurant industry as operators navigate slowing consumer demand and higher costs.Yum said last year it was evaluating strategic alternatives for Pizza Hut, including a potential sale, as the chain worked to reverse a prolonged sales slump.This is a breaking news story. Please check back for updates. [TheTopNews] Read More.

The Federal Reserve is expected to hold rates steady following its monetary policy meeting this week amid the rise in inflation, while newly minted Chairman Kevin Warsh is set to hold his first post-meeting press conference.Inflation was already elevated before the Iran war jolted energy prices higher, which has in turn contributed to key inflation measures moving further away from the Fed's 2% target. The consumer price index (CPI) rose to 4.2% in May, which was the highest level since April 2023.That inflationary trend has prompted the market to effectively rule out an interest rate cut at this week's meeting of the Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions.Warsh's debut at the FOMC's post-announcement press conference will be watched closely for signs of how policymakers view the path ahead for the economy and monetary policy, with the outlook for possible interest rate cuts this year appearing dim.INFLATION IS SQUEEZING AMERICAN CONSUMERS AND THE FED'S LATEST REPORT SHOWS IT'S GETTING WORSEThe CME FedWatch tool shows a 98.4% probability that the Fed will leave the benchmark federal funds rate unchanged at its current target range of 3.5% to 3.75% this week. It also shows a 42.7% chance that rates remain at that level through the December meeting, narrowly ahead of a 25-basis-point cut at that time."While Warsh is generally perceived as dovish, he will inherit a Committee that has become noticeably more hawkish," said EY-Parthenon chief economist Gregory Daco. "Several policymakers have recently argued that rate hikes should remain an option if inflation remains above target, and concerns around energy-driven inflation pressures have only reinforced that bias."JPMorgan economists led by Michael Feroli wrote that they think that given the inflation backdrop and the labor market looking stronger, the FOMC "should drop the easing bias from the post-meeting statement, replacing it with either a neutral sentence or no forward guidance at all."AMERICANS GROW MORE PESSIMISTIC ABOUT FINANCES AS RENT AND FOOD COST FEARS SURGE, FED SAYSFed watchers will also be on the lookout for signals about possible institutional changes at the central bank in terms of its communications and projections.Daco said that the summary of economic projections (SEP or "dot plot") released by the Fed are likely to garner more attention than usual, given that "Warsh has repeatedly expressed skepticism toward the usefulness of economic forecasts and the dot plot of median rate expectations.""While we still expect… [TheTopNews] Read More.