Unleash Prosperity co-founder Stephen Moore and Heritage Foundation senior economist Peter St. Onge discuss the Trump administration’s push to crack down on fraud on ‘The Bottom Line.’
FIRST ON FOX – The U.S. Small Business Association referred 562,000 suspected fraudulent loans totaling over $22.2 billion to the U.S. Department of Treasury for collections, the SBA said in a Friday statement.
“From Day One, the Trump SBA has worked tirelessly to crack down on billions in pandemic-era fraud that the Biden Administration forgave or ignored,” SBA Administrator Kelly Loeffler told Fox News Digital in a statement.
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The loans, largely stemming from the Paycheck Protection Program (PPP) and the COVID Economic Injury Disaster loan program, were flagged for suspected fraud during former President Joe Biden’s administration but never sent to Treasury for collections, the SBA said in its statement.
The SBA accused former President Joe Biden of deliberately protecting suspected fraudsters by refusing to refer them to Treasury.
“For years, the Biden Administration shielded these borrowers from debt collectors as part of a de facto amnesty scheme – but today, they will finally face accountability. The SBA is deeply grateful to the U.S. Department of the Treasury for its partnership in this historic action, and we look forward to continued collaboration as we work to claw back stolen taxpayer dollars and hold fraudsters accountable,” Loeffler said.
Kelly Loeffler, administrator of the US Small Business Administration (SBA), left, and Scott Bessent, US treasury secretary, during a news conference in the James S. Brady Press Briefing Room of the White House in Washington, DC, US, on Wednesday, Ap (Shawn Thew/EPA/Bloomberg via Getty Images / Getty Images)
In addition to referring the loans to Treasury, the SBA has also referred the borrowers to the U.S. Department of Justice.
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The SBA is legally required to refer delinquent debts to Treasury but, according to the SBA announcement, none of the 560,000 borrowers had been compelled to repay the $22.2 billion they owed and less than 1,000 were facing investigations from the SBA’s Office of Inspector General.
“Over $22 billion. We mean business. If you commit fraud, we will find you,” a senior White House official told Fox News Digital.
The effort to refer the loans and seek repayment from the borrowers is being led by the White House Task Force to Eliminate Fraud, which is helmed by Vice President JD Vance and Federal Trade Commission Chair Andrew Ferguson.
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“Finding and going after these billions of dollars was only possible with the task force’s whole of government effort. The Vice President is proud of the several milestones the task force has already achieved, and it’s only the beginning,” a spokesperson for Vance told Fox News Digital.
The sweeping fraud referrals are part of a broader anti-graft push overseen by Vance and his task force. In conjunction with the task force, the SBA is now pinpointing a wide swath of potential pandemic loan fraud.
U.S. Vice President JD Vance (C) speaks during a Fraud Task Force meeting in the Indian Treaty Room at the White House on March 27, 2026, in Washington, DC. Vice President JD Vance held the Fraud Task Force Meeting with aims to reduce federal spendin (Heather Diehl/Getty Images / Getty Images)
“Research findings show over 1,000,000 suspicious Paycheck Protection Program (PPP) loans,” Vance wrote in a memo on the first day of his task force.
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The administration estimates that of the $1.2 trillion in PPP and EIDL loans the SBA approved between 2020-2021, at least $200 billion is fraudulent, the agency wrote in its Friday memo.
The task force, led by Vice President JD Vance, is seeking to target federal benefits fraud, intensifying the administration’s oversight of federal funds in Democratic-led states. (Shawn Thew/EPA/Bloomberg via Getty Images / Getty Images)
The SBA has launched new measures to crack down on fraud, including citizenship and birthdate verifications and a state-by-state investigation into fraudsters, according to an early April memo.
The agency has already suspended nearly 112,000 borrowers suspected of obtaining fraudulent loans in California and Minnesota.
Fox News Digital contacted the Department of the Treasury, the Small Business Association, and the Federal Trade Commission for comment but did not immediately receive a response.
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Even in the turbulent market of 2026, going from “AI winner” to “AI loser” status in six months seems excessive.
Unfortunately for MicrosoftMSFT -3.97%decrease; red down pointing triangle, the complexity of the company’s business model also means its new label can’t be shaken off quickly. But patient investors should be rewarded, as the world’s largest software company by revenue still has notable strengths in the artificial-intelligence world.
SYDNEY — Electric vehicle sales in Australia have surged in the first four months of 2026, with battery-electric models capturing a record share of the new car market as buyers embrace more affordable Chinese brands and established leaders like Tesla continue strong momentum.
According to data compiled from VFACTS, the Electric Vehicle Council and industry analysts through March 2026, the top five best-selling pure EVs reflect shifting consumer preferences toward practical SUVs, competitive pricing and expanding model choices. Tesla’s Model Y remains the clear leader, but Chinese manufacturers are closing the gap rapidly.
Tesla Model Y
1. Tesla Model Y The compact electric SUV continues its reign as Australia’s best-selling EV, with approximately 5,897 to 7,260 units sold year-to-date. Strong March sales of 2,818 units helped maintain its dominance despite increased competition. Buyers praise its range, technology, build quality and widespread Supercharger network. The Model Y’s versatility as a family hauler with strong performance makes it a default choice for many Australian households transitioning to electric.
2. BYD Sealion 7 BYD’s mid-size electric SUV has been a breakout star, selling around 4,468 units year-to-date with a massive 1,970 deliveries in March alone. The Sealion 7 offers competitive pricing, generous standard equipment, strong performance in its dual-motor variants and a comfortable ride suited to Australian roads. Its rapid rise demonstrates growing consumer confidence in Chinese EV brands.
3. Zeekr 7X The premium electric SUV from Geely’s luxury brand has quickly established itself as a serious contender, with roughly 1,725 units sold year-to-date. March deliveries reached 679. Known for its upscale interior, advanced driver assistance systems and impressive range, the Zeekr 7X appeals to buyers seeking luxury features at a more accessible price than traditional European brands.
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4. BYD Atto 2 This compact crossover has sold approximately 1,481 units year-to-date. Its affordable pricing, practical size for urban driving and solid range have made it popular with first-time EV buyers and young families. The Atto 2’s nimble handling and modern tech features have helped it carve out a strong niche in the entry-level segment.
5. Geely EX5 / Tesla Model 3 (tied closely) The Geely EX5 has moved approximately 1,437 units year-to-date, while the Tesla Model 3 sits around 1,363. Both models offer compelling value — the EX5 with sharp pricing and family-friendly features, and the Model 3 with Tesla’s ecosystem, performance and software updates. Their battle for fifth place highlights the diversity now available in Australia’s EV market.
The broader EV market in Australia has shown remarkable resilience. March 2026 recorded a record 15,839 BEV sales, representing about 14.6% of the total new vehicle market. Year-to-date, EVs continue gaining ground as federal and state incentives, falling battery prices and improved charging infrastructure encourage adoption.
Industry experts attribute the strong performance of Chinese brands to aggressive pricing, generous warranties and feature-packed vehicles that often undercut established competitors. Tesla maintains leadership through brand loyalty and its established charging network, but the gap is narrowing as more affordable options flood the market.
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Consumer trends show strong demand for SUVs and crossovers, reflecting Australian preferences for higher-riding vehicles suited to varied road conditions and family needs. Compact and mid-size electric SUVs now dominate sales charts, pushing traditional sedans like the Model 3 further down the rankings.
Challenges remain for broader EV adoption. Range anxiety in regional areas, charging infrastructure gaps outside major cities and higher upfront costs for some models continue to slow uptake among certain buyer groups. However, improving battery technology and government policies supporting the transition are gradually addressing these barriers.
Looking ahead, analysts expect continued growth throughout 2026 as more affordable models arrive and existing popular vehicles receive updates. New entrants and refreshed versions from established players could further shake up the top 10 rankings by year-end.
For Australian buyers considering an EV in 2026, the current top sellers offer proven real-world performance, strong resale value and access to expanding charging networks. Whether prioritizing range, features, price or brand, the market now provides more viable options than ever before.
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The strong early-year sales figures signal that electric vehicles are moving from niche to mainstream in Australia. With the top five models representing a healthy mix of established leaders and exciting newcomers, 2026 is shaping up as a pivotal year for the country’s clean transport transition.
FanDuel users across the United States reported login difficulties, app glitches and betting platform disruptions Friday, prompting widespread frustration during a busy sports day, though the company has not declared a full outage.
FanDuel Experiences Login Issues and App Problems for Some Users on April 24
As of midday April 24, 2026, monitoring sites such as Downdetector showed elevated user reports, with the majority centered on login problems (around 58%), followed by app issues and betting functionality. While not a complete service blackout, the problems affected thousands of bettors attempting to access accounts, place wagers or view live odds.
FanDuel Support acknowledged the issues in direct messages to affected users, stating the team was aware of login problems and actively working on a resolution. The company has not issued a formal public statement, but users on social media and community forums reported being logged out unexpectedly, with some unable to reset passwords or regain access to funds and active bets.
The timing proved particularly inconvenient for many. Friday featured multiple major league games across MLB, NBA playoffs and other sports, driving high traffic to the platform. Bettors reported losing access to parlays, live betting and account balances during critical windows, leading to angry posts and calls for compensation.
Troubleshooting advice from FanDuel’s help center and user communities includes clearing cache, updating the app, restarting devices, checking internet connections and trying the desktop site. Some users succeeded with these steps, while others continued experiencing problems into the afternoon.
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This is not the first time FanDuel has faced technical hiccups. Similar intermittent issues have occurred during peak sports events in the past, often attributed to high server load or AWS-related infrastructure problems. Friday’s reports align with patterns seen during previous high-volume days.
FanDuel remains one of the largest sports betting and daily fantasy platforms in the U.S., operating legally in numerous states. The company has invested heavily in technology and customer support, but scalability during spikes continues to draw criticism from users when problems arise.
Industry analysts note that while isolated login and app issues do not constitute a full outage, they can significantly impact user experience and trust, especially for those with active bets. FanDuel’s support team typically works quickly to restore service, but resolution times vary.
Users experiencing problems are encouraged to contact FanDuel support directly through the app, website or verified social channels. The company’s official support handle has been responding to individual cases, though volume appears high. Those with funds locked or active wagers should document issues with screenshots for potential resolution.
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Broader context shows strong growth in legal sports betting, with FanDuel competing against DraftKings and others for market share. Technical reliability has become a key differentiator as the industry matures and more states expand access. Incidents like Friday’s highlight ongoing challenges in maintaining flawless service during peak demand.
For now, the platform appears partially operational for many users, though login and app performance remain inconsistent in certain regions. Monitoring sites show reports tapering but still elevated compared to normal levels. Sports fans and bettors are advised to check official channels for updates and consider alternative access methods if needed.
As the situation develops, FanDuel customers hope for a swift resolution ahead of evening games. The company’s history suggests most issues resolve within hours, but today’s problems serve as a reminder of the occasional fragility of digital betting platforms during busy periods.
MUMBAI: Shares of Cairn India Ltd on Friday climbed over 5 per cent to hit a record high of Rs 358 on the BSE amid reports that Vedanta Resources is in talks to buy a majority stake in the subsidiary of UK-based Cairn Energy.
The scrip, which was flat for most of the session, shot up in the final hour of trade on the Bombay Stock Exchange to settle with a net gain of 4.36 per cent at Rs 355.45.
Analysts said the stock zoomed on reports that Vedanta is in talks to buy a 51 per cent stake in Cairn India from its parent firm, Cairn Energy, which holds a 62.4 per cent stake. The deal size is estimated to be between USD 8-8.5 billion.
“The deal is positive for the stock, as even the lower- end of the deal ($8 billion) will value Cairn India at USD 15.7 billion compared to the current market cap of $14.4 billion,” Elara Securities analyst Alok Deshpande said.
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“In the short term, we expect the stock to rally towards the deal valuation upon the official announcement, which is expected on August 16, according to media reports,” he added.
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Cairn India’s parent company, Cairn Energy Plc, also zoomed nearly 2 per cent on the London Stock Exchange and was being quoted at 4.61 pounds in late afternoon trade. In contrast, NRI billionaire Anil Agarwal-led Vedanta Resources Plc plunged by 5.5 per cent to 20.61 pounds on the LSE.In addition, Sterlite Industries, a Vedanta Group firm, sank by over 4 per cent to close at Rs 160.70 on the Bombay Stock Exchange. Sterlite was the biggest loser in the Sensex pack today.
“If the deal happens, it is obvious that Vedanta is planning to be a long-term investor. In that case, we feel the deal valuation is fair, considering our expectations of a reserve upside from other Rajasthan fields in some time in the future,” Deshpande said.
The Old Fox of Dalal Street has been on a dream run since the past couple of weeks. On Friday, most stocks that he had been steadily building up positions in figured among key gainers of the day. State Bank of India shares hit a new peak of Rs 2,879.95, before closing at Rs 2,849.40, up 2.35% over the previous close.
SpiceJet hit a 52-week high of Rs 68.45 before closing at Rs 66.05, up 8% over the previous close. Bombay Dyeing hit a 52-week high of Rs 684.85 before closing at Rs 661.55, up 12% over its previous close. Godrej Properties rose 3% to close at Rs 776.40. It remains to be seen, if the Fox will make a quiet exit when the going is good, or hang in there for bigger profits.
Financial influencer Taylor Price joins ‘Varney & Co.’ to break down how shifting your mindset can help Americans expand wealth and achieve the American Dream.
Fannie Mae and Freddie Mac are making a major change to how Americans may qualify for a mortgage.
The government-backed mortgage giants said Wednesday they will begin allowing loans evaluated using VantageScore 4.0, a newer credit scoring model that can incorporate data such as rent and utility payment history.
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The change will initially roll out on a limited basis, beginning with a group of approved lenders, as part of a broader credit score modernization effort led by the Federal Housing Finance Agency (FHFA).
“It is only thanks to President Trump’s landslide victory and leadership that we finally broke the gridlock to do this — what’s right for the American people over Washington’s special interest,” FHFA Director William Pulte said at a press conference Wednesday.
“Fannie and Freddie, as I said, are ready to immediately start working with approved lenders to accept VantageScore loans.”
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Single family homes line the streets of Thousand Oaks, Calif., April 2, 2026. ( Kevin Carter/Getty Images)
Pulte added that Freddie Mac has already begun testing the model, taking delivery of about $10 million in loans evaluated using VantageScore, which are expected to be securitized.
“If you paid your rent for 10 years, that should be factored into your credit score,” Pulte said. “So, I think it will save lots of money. And this truly is the golden age of home buying.”
He also estimated that the change could affect “tens of millions” of Americans.
During the limited rollout, approved lenders may choose between VantageScore 4.0 and traditional FICO scores.
A person hands over a house key to another individual. (iStock)
A second updated model, FICO Score 10T, is also expected to be introduced as part of the modernization initiative.
FICO 10T also factors in both positive and negative rental payment history when reported to credit bureaus.
“By incorporating newer models with more predictive power, we can support sustainable access to homeownership and keep safety, soundness and operational readiness at the center,” Jake Williamson, executive vice president and head of single-family at Fannie Mae, said in a statement.
A for sale sign displayed in front of a single-family home. (iStock )
Efforts to modernize credit scoring have been underway for years. In 2022, federal regulators approved both VantageScore 4.0 and FICO 10T after extensive testing, according to Freddie Mac.
| Revenue of $307.16M (14.04% Y/Y) beats by $19.13M
Covenant Logistics Group, Inc. (CVLG) Q1 2026 Earnings Call April 24, 2026 10:00 AM EDT
Company Participants
James Grant – Executive VP, CFO and Principal Financial & Accounting Officer M. Bunn – President David Parker – Founder, CEO & Chairman
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Conference Call Participants
Jason Seidl – TD Cowen, Research Division Jeffrey Kauffman – Vertical Research Partners, LLC Scott Group – Wolfe Research, LLC
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Presentation
Operator
Welcome to today’s Covenant Logistics Group First Quarter Earnings Release and Investor Conference Call. Our host for today’s call is Tripp Grant. I would now like to turn the call over to your host. Mr. Grant, you may begin.
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James Grant Executive VP, CFO and Principal Financial & Accounting Officer
Good morning, everyone, and welcome to the Covenant Logistics Group First Quarter 2026 Conference Call. As a reminder, this call will contain forward-looking statements under the Private Securities Litigation Reform Act, which are subject to risks and uncertainties that could cause actual results to differ materially. Please review our SEC filings and most recent risk factors. We undertake no obligation to publicly update or revise any forward-looking statements. Our prepared comments and additional financial information are available on our website at www.covenantlogistics.com/investor. Joining me today are CEO, David Parker; President, Paul Bunn; and COO, Dustin Koehl. Our first quarter was unique in that it included 2 of the worst and one of the best months we have experienced in the last 3 years. The trajectory was positive and has continued into April, leaving us with conviction that the change in the market is structural, not seasonal.
Our Expedited segment was most negatively impacted by both weather and fuel costs in the quarter, with improved rates and volumes in March and April, which we believe will continue to improve throughout the year, giving us plenty of operational leverage. Our new business pipeline
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