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Soccer-Beating the heat no problem for World Cup fans in sweltering Houston

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Switzerland votes on proposal to cap population at 10 million

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Switzerland votes on proposal to cap population at 10 million


Switzerland votes on proposal to cap population at 10 million

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Momentum and Small-Caps Lead Market Amid Big IPO

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Stocks Little Changed After Fed Decision

It’s fitting that the largest IPO ever debuted on a day that Wall Street was back chasing momentum stocks.

The S&P 500 was up 0.5%. The Nasdaq was up 0.4%. The Dow was up 384 points, or 0.8%. SpaceX stock was up 27% to $170.88 in its debut so far, which puts it right around TSMC among the top seven companies by market cap.

The top exchanged-traded funds focused on stocks with particular characteristics, or factors, were mostly momentum, risk, and growth focused on Friday.

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Adobe CFO Heads to a Chip Firm. It’s All You Need to Know About Software’s Downfall.

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Adobe CFO Heads to a Chip Firm. It’s All You Need to Know About Software’s Downfall.

Adobe CFO Heads to a Chip Firm. It’s All You Need to Know About Software’s Downfall.

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Microsoft Stock Is Having a Rough Week. It’s the Latest AI Play Under Pressure.

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Microsoft Stock Is Having a Rough Week. It’s the Latest AI Play Under Pressure.

Microsoft Stock Is Having a Rough Week. It’s the Latest AI Play Under Pressure.

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Coming to Grips With a Trillion-Dollar Sum

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Spencer Jakab hedcut

Not long ago, the word trillionaire only appeared in The Wall Street Journal as hyperbole. It was an obviously exaggerated way of describing an inconceivable fortune—like calling someone a bazillionaire. But now with SpaceX going public, we are today using it for Elon Musk.

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Hopes for Iran Peace Deal Sparked Quick Rally in Luxury Stocks. Is It Time to Buy?

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Hopes for Iran Peace Deal Sparked Quick Rally in Luxury Stocks. Is It Time to Buy?

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FDA issues highest-risk recall for Alfredo sauce sold in 41 states

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FDA issues highest-risk recall for Alfredo sauce sold in 41 states

The Food and Drug Administration (FDA) has classified a recall of more than 900 cases of Alfredo sauce at its highest risk level after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination.

The FDA designated the recall as a Class I event, its most serious classification, meaning there is a reasonable probability that use of or exposure to the product could cause serious adverse health consequences or death.

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The recall affects 913 cases of Alfredo sauce packaged in 3-pound, 7-ounce sealed poly bags and 12 bags per case, according to an FDA enforcement report.

FORD RECALLS MORE THAN 255,000 FOCUS VEHICLES OVER ENGINE STALL RISK

Fettuccine Alfredo being prepared in a pan

Fettuccine Alfredo is prepared in a kitchen. The FDA classified a recall of more than 900 cases of Alfredo sauce as a Class I event due to potential salmonella contamination. (Getty Images / Getty Images)

According to the FDA, The Coffee Connexion Co., Inc., which is based in Lebanon, Tennessee, voluntarily initiated the recall on May 6, after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination. The recall remains ongoing.

A representative for The Coffee Connexion Co. did not immediately respond to FOX Business’ request for comment.

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The affected product carries UPC 0039954921963 and includes batches 046188 through 046193 with a best-by date of Jan. 12, 2028; batches 047290 through 047296 with a best-by date of Feb. 16, 2028; batches 048029 through 048034 with a best-by date of March 9, 2028; and batches 049089 through 049094 with a best-by date of April 20, 2028.

MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES

Fettuccini Alfredo on a plate

A serving of fettuccine Alfredo is served. The recalled product was distributed in more than 40 states, according to the FDA. (iStock / iStock)

According to the FDA, the product was distributed in Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming.

Salmonella can cause serious and sometimes fatal infections in young children, older adults and people with weakened immune systems. Healthy people infected with salmonella often experience fever, diarrhea, nausea, vomiting and abdominal pain, according to the FDA.

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According to the FDA, the product was distributed in 41 states. (Brian Kaiser/Bloomberg via Getty Images, File / Getty Images)

The FDA’s enforcement report states that no press release was issued for the recall and does not indicate whether any illnesses have been reported.

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The recall was assigned FDA recall number H-0909-2026 and received its Class I classification on June 4.

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Mexico investigates murder of mayor of town in Oaxaca state

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Mexico investigates murder of mayor of town in Oaxaca state

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Trump names James McDonald as US attorney for Manhattan

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Trump names James McDonald as US attorney for Manhattan

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Crypto fraudster Bankman-Fried loses federal appeal while seeking Trump pardon

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Crypto fraudster Bankman-Fried loses federal appeal while seeking Trump pardon

Sam Bankman-Fried, the former crypto billionaire convicted for fraud in 2023, lost an appeal to overturn his conviction and 25-year prison sentence Friday, Reuters reported

A New York jury found Bankman-Fried guilty on two charges of wire fraud and five conspiracy counts in November 2023 for his actions while running FTX, a cryptocurrency exchange that declared bankruptcy in 2022 after once being valued at more than $26 billion.

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Bankman-Fried pleaded his case to a three-judge panel of Manhattan’s 2nd U.S. Circuit Court of Appeals, who unanimously rejected his plea on Friday, calling the evidence against him “conservatively stated, robust,” according to Reuters. 

“While he was publicly reassuring customers, investors and regulators that FTX customer funds were ​safe, he was simultaneously using FTX as his own personal piggy bank, spending customer funds on real estate, ​political contributions, and investments,” Circuit Judge Barrington Parker stated, per Reuters.

DEAL-MAKING CLEMENCY: INSIDE TRUMP’S MOST DISPUTED PARDONS OF 2025

Sam Bankman-Fried

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, leaves court in New York, US, on Wednesday, July 26, 2023. (Photographer: Yuki Iwamura/Bloomberg via Getty Images / Getty Images)

Bankman-Fried became a prolific political donor in the years leading up to his conviction. 

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While the one-time crypto magnate appeared to strongly favor Democrats with his donations — his $40 million contributions to Democrats in the 2022 midterms made him the party’s second-biggest donor after George Soros — he poured a significant amount funds into Republican coffers as well. 

According to Michael Lewis’ book about Sam Bankman-Fried’s rise and fall, the former crypto billionaire explored whether a large payment could persuade then-former President Donald Trump not to run for president again. Now, Sam Bankman-Fried signaled he’s like a presidential pardon from Trump.

Bankman-Fried made the admission in an interview with Fox Business’ Susan Li, who asked him if he wanted a pardon.

Sam Bankman-Fried and President Donald Trump

FTX founder Sam Bankman-Fried spoke to FOX Business from prison, saying he’d “absolutely” be interested in a pardon from President Donald Trump. (Kevin Dietsch/Getty Images; Michael M. Santiago/Getty Images / Getty Images)

“Absolutely,” he told Li, adding, “It would be obviously, you know, ultimately up to the president, not up to me.”

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Bankman-Fried also insisted he was innocent of defrauding or stealing from his customers. 

CONVICTED FTX FOUNDER SAM BANKMAN-FRIED INSISTS HE’S INNOCENT IN EXCLUSIVE PRISON INTERVIEW

“I didn’t steal user funds either,” he told Li. “Customers have been repaid now 170% or so on their deposits. It’s one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence[s].”

Sam Bankman-Fried, CEO of FTX US Derivatives, testifies on Capitol Hill in May 2022

From right, Terrence A. Duffy, CEO of the Chicago Mercantile Exchange, Sam Bankman-Fried, CEO of FTX US Derivatives, Christopher Edmonds, chief development officer of the Intercontinental Exchange, and Christopher Perkins, president of CoinFund, test (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

FTX’s bankruptcy estate confirmed to FOX Business that customers are being repaid in full with some getting returns as high as 118%. However, those estimations are calculated using crypto prices from November 2022, a near-bottom in the cryptocurrency market.

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Federal prosecutors alleged during the trial that Bankman-Fried systematically diverted billions of dollars in customer deposits to cover trading losses at his private hedge fund, Alameda Research, orchestrating what they described as a financial fraud of historic proportions. 

Fox Business’ Kristen Altus and Susan Li contributed to this report.

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