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The Federal Reserve's costly renovation project will have a new manager as Fed Chair Kevin Warsh has tasked the General Services Administration (GSA) with managing the completion of the project.On Wednesday, the Fed's Office of Inspector General released a report which found that while there was no administrative misconduct in the management of the more than $2 billion project, mistakes were made that have contributed to significant cost overruns and delays. Inflation contributed to those cost increases, as well as unanticipated project needs, while lapses in project management and contracting practices exposed the central bank to the cost overruns in renovating the Federal Reserve headquarters.The cost of the renovation of the Marriner S. Eccles and 1951 Constitution Avenue NW buildings as approved by the Fed's board surged from $1.317 billion in February 2020 to $2.381 billion in December 2024. Meanwhile, the timeline for completing the project slipped from the original estimate of the second quarter of 2024 to the end of 2027.GSA Administrator Edward Forst said in a statement provided exclusively to FOX Business that "GSA fully supports Chairman Kevin Warsh’s efforts to bring greater accountability, cost discipline, and effective project management to major renovation work across Federal Reserve facilities."THE FINAL VERDICT IS IN FOR THE FED'S TROUBLED RENOVATION AND JEROME POWELL"As the federal government’s primary real estate and building management agency, GSA will work closely with the Chairman and bring its expertise in construction, project management, and federal real estate to get these projects back on track," First said. "Together, we will focus on delivering better value for taxpayers and ensuring the Federal Reserve’s facilities are positioned to better serve the American people," the GSA administrator added.Fed Chair Kevin Warsh said in a letter dated Sept. 29 which accompanied the IG report that shortly after he was sworn into his role as chairman he was "briefed on the renovations and learned of the ongoing challenges that have hindered their progress."POWELL ASKS FOR IG REVIEW AFTER TRUMP ADMINISTRATION FLAGS FED'S COSTLY BUILDING RENOVATIONThe chairman said that he sought the advice of Forst and the GSA in early August given their experience in managing large-scale construction and managing federal workspaces. Warsh's letter dated Sept. 29 said that, effective immediately, GSA will serve as the project executive for the renovation and report to the Fed, explaining that "we will ensure that the balance of the project is managed to the highest standards and is finished promptly."He… [TheTopNews] Read More.

President Donald Trump praised Boeing and its 737 MAX after a FlyDubai jet survived a dramatic plunge during an apparent attempt to crash the Israel-bound aircraft with more than 170 people aboard.Trump congratulated the U.S. aerospace giant Thursday, singling out the aircraft's ability to withstand the extreme forces it encountered during the midair emergency."Congratulations to the GREAT Boeing Company for producing a plane, the 737 Max, that was able to withstand G Forces and Strain far beyond what it was designed and expected to do," Trump wrote on Truth Social."It was an amazing show of precise and powerful structural planning and design. It is about time that The Boeing Company, which builds, by far, the finest commercial airliners in the sky, was given credit for this airplane’s incredible ‘genius!’ To Kelly Ortberg, and all of his officers and associates at Boeing, congratulations on a job well done!!!"TRADE EXPERT REVEALS WHAT TRUMP-XI $30B DEAL MEANS AS HOLIDAY SEASON APPROACHESTrump's praise came after FlyDubai Flight FZ1073, a Boeing 737 MAX 8 traveling from Dubai to Tel Aviv, plunged nearly 14,000 feet in less than 30 seconds Wednesday as a violent attack unfolded in the cockpit.Israeli officials said the co-pilot attacked the captain in an apparent attempt to crash the aircraft. The wounded captain managed to unlock the cockpit door, allowing passengers to subdue the attacker before reserve crew members aboard the flight took control and landed the plane safely in Tabuk, Saudi Arabia. Passengers have been praised for intervening as the aircraft rapidly lost altitude.All passengers were safe and accounted for following the emergency landing. Both pilots were hospitalized after sustaining injuries, according to Tabuk airport officials.FlyDubai has said the underlying reasons for the incident remain unknown and cautioned against "premature speculation." The United Arab Emirates launched an investigation Thursday to determine the circumstances and motives, including whether the incident was connected to terrorist activity or involved prior planning or direction.Netanyahu and Indian Prime Minister Narendra Modi have praised the flight's captain, Indian national Smit Machchhar, for his actions during the emergency.CLICK HERE TO GET FOX BUSINESS ON THE GONetanyahu told Fox News that Machchhar had apparently been stabbed or struck with an axe by the other pilot and had bled profusely.Reuters contributed to this report.  [TheTopNews] Read More.

America's skilled trades shortage has major employers sounding the alarm as companies face mounting demand for workers needed to build, maintain and power the country's infrastructure.mikeroweWORKS Foundation CEO Mike Rowe joined FOX Business’ Stuart Varney on "Varney & Co." to discuss the widening skilled labor gap, the impact of artificial intelligence and the growing push to steer more Americans toward trade careers.A new national report from the Alliance for America’s Skilled Trades found the U.S. is expected to face roughly 1.7 million skilled trades job openings each year through 2035, while training programs are producing only about 55 workers for every 100 needed.CEO REVEALS THE 'SIX-FIGURE JOBS' YOUNG AMERICANS ARE OVERLOOKING AMID LABOR SHORTAGERowe cautioned that the shortage is not identical across every occupation or state, but said the broader problem is showing up throughout the trades."So what you're seeing across dozens and dozens of trades are shortages that are more or less universal. But individually, trade to trade, state to state, there's variance," Rowe said.For Rowe, the urgency is increasingly evident in conversations with corporate leaders.GOOGLE PARTNERS WITH VETERANS GROUPS TO HELP 25,000 ENTER SKILLED TRADES CAREERS AMID WORKER SHORTAGE"Every week I get a call, either from a CEO of some big company or some consequential industry. And they're freaking out. This workforce thing is the problem of the decade, and it's not gonna go away until we come at it from a different angle," he said.At the same time, Rowe said attitudes toward the trades appear to be changing, driven by the rising cost of four-year degrees and concerns about how AI could reshape the job market."Just through my foundation alone, the demand is up 10x over the same time a year ago," Rowe said. "So something has definitely changed out there in the ether, and I suspect AI has a lot to do with it."GET FOX BUSINESS ON THE GO BY CLICKING HERE [TheTopNews] Read More.

Actor Mark Ruffalo blasted the outcome of the long-running fight over Paramount's $110 billion acquisition of Warner Bros. Discovery after a federal judge cleared the Hollywood megadeal to move forward Wednesday.Ruffalo, who had been one of the most vocal Hollywood opponents of the merger, called the outcome "incredibly disappointing.""This merger will stifle creativity, weaken free speech, and cost people their jobs – it is a bad deal for this country and should never have been approved," Ruffalo wrote in a post on X."This is an incredibly disappointing outcome for the hundreds of thousands of us who stood up to block it, but it's also not the end," he continued. "This grassroots movement isn't going to fade away and neither is our resolve. This was never about just one merger: this was about fighting back against corrupt oligarch billionaires trampling the interests of everyday people to line their own pockets."PARAMOUNT REACHES SETTLEMENT WITH STATES SUING TO BLOCK WARNER BROS DISCOVERY TAKEOVER"We're still in that fight," he added. "Join us."A federal judge on Wednesday issued an order allowing Paramount to close its acquisition of Warner Bros. Discovery, clearing the way for the historic Hollywood merger to move forward.U.S. District Judge Araceli Martínez-Olguín called the deal a "reasonable factual and legal resolution" while rejecting objections seeking broader restrictions.The order came after Paramount and a California-led coalition of 12 state attorneys general, which had sued to block the acquisition, reached a settlement.California Attorney General Rob Bonta, who led the coalition, previously said the combined company made an "enforceable commitment to significantly increase domestic production."MARK RUFFALO URGES CALIFORNIA AG ROB BONTA NOT TO 'CAVE' IN PARAMOUNT-WARNER BROS MERGER FIGHTUnder the settlement, the company committed to releasing at least 30 movies annually in each of the first two years, followed by 32 movies per year over the next three years. At least four films each year must be independent releases.Paramount also agreed to spend at least an additional $1.5 billion on U.S. film production over five years compared with its 2025 spending levels, according to Bonta's office.Paramount and Warner Bros. Discovery are expected to close the deal Oct. 6, according to Reuters.Just days before the settlement was announced, Ruffalo had publicly pressured Bonta not to settle."Don’t you dare @AGRobBonta, do not cave," Ruffalo posted on X.GET FOX BUSINESS ON THE GO BY CLICKING HEREIn July, the states sued to block the deal, arguing it would reduce… [TheTopNews] Read More.

A Utah beverage company is recalling more than 77,000 cans of 7UP Tropical after some packages labeled as zero-sugar soda were found to contain the full-sugar version of the drink.Admiral Beverage Corporation initiated the voluntary recall on Aug. 20, according to a U.S. Food and Drug Administration enforcement report. The recall covers 3,240 cases, or 77,760 cans, distributed in Utah.The affected product is 7UP Tropical sold in 12-ounce cans packaged in 12-packs.According to the FDA listing, some cans labeled "7Up Tropical Zero Sugar" actually contain full-sugar soda, creating the potential for undeclared sugar.MORE THAN 2,300 POUNDS OF BREAKFAST SAUSAGE RECALLED OVER PLASTIC CONTAMINATIONConsumers can identify the recalled product by lot code UT06176 and a best-by date of March 17, 2027. The affected product carries UPC 0 78000 03798 2.The FDA classified the recall as Class II on Sept. 29, more than a month after the company initiated the recall.The agency uses a Class II designation when exposure to a recalled product may cause temporary or medically reversible adverse health consequences or when the probability of serious adverse health consequences is remote.WIDELY USED BLOOD PRESSURE MEDICATION RECALLED NATIONWIDEThe recall remains ongoing, according to the FDA listing. No news release was issued for the recall, and the listing does not provide additional information about how the labeling error occurred or whether consumers have reported adverse reactions.The FDA listing also does not identify the retailers that received the affected 7UP Tropical, or indicate that the recalled product was distributed outside Utah. Admiral Beverage Corporation, which is based in Worland, Wyoming, operates a production facility in Pleasant View, Utah.The Pleasant View address listed by the company matches the address identified for the recalling firm in the FDA enforcement report.CLICK HERE TO GET FOX BUSINESS ON THE GOFOX Business reached out to Admiral Beverage Corporation and Keurig Dr Pepper, the parent company of 7UP, for additional information about the recall, including how the labeling error occurred, whether any consumer complaints or adverse reactions have been reported, which retailers received the affected products and what consumers who purchased the recalled soda should do. [TheTopNews] Read More.