British American Tobacco is planning to cut about 20% of its workforce as it moves forward with using artificial intelligence (AI) to reshape its operations with the goal of lowering costs and boosting profits.

The maker of Lucky Strike and Dunhill cigarettes said Monday it plans to cut around 5,500 jobs and outsource about 3,500 roles to third-party firms, including Accenture. The restructuring would impact about 9,000 employees total, while excluding the U.S.

BAT didn’t specify where the jobs would be cut as its main profit driver of traditional tobacco faces a long-term decline amid the rise of smoking alternatives.

The company said the cost-cutting program is expected to deliver $793 million in annualized savings by 2028, with much of that total targeted by 2027.

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British American Tobacco announced job cuts as it implements AI to cut costs. (BSIP/Universal Images Group via Getty Images)

BAT CEO Tadeu Marroco said the overhaul would make the company more agile, cost-disciplined and technology-enabled.

“These changes affect many of our colleagues and we are focused on supporting them through this transition with care and respect,” Marroco said in a statement.

The company’s sales and profit growth have been slow in recent years, often missing or narrowly meeting company targets and disappointing some investors. BAT is aiming to grow its revenue between 3% and 5% per year over the medium term.

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The company said it has begun streamlining its manufacturing over the last 18 to 24 months, a process which included the previously announced closure of a factory in South Africa.

BAT expects traditional tobacco product sales to decline 2.5% across the industry this year. Due to that trend, the company is shifting its focus to alternatives like Vuse vapes and Velo nicotine pouches, though it lags behind industry rival Philip Morris International.

U.S. regulators have adopted a tough approach to approving licenses for new products like vapes, which have delayed the launch of new products. BAT said the approval challenges have led to an influx of illegal Chinese products, which has weighed on its sales and market share.

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Vuse vapes are a growing focus for British American Tobacco amid shifting consumer habits. (Daniel Acker/Bloomberg via Getty Images)

Tobacco sales in the U.S. have also been hit as smokers shift to cheaper brands amid high living costs, while BAT also faces rising import taxes, tighter regulations and illicit trade in markets like Australia and Bangladesh.

BAT said most of the role changes had been confirmed with employees, while remaining consultations were underway in compliance with local requirements.

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The company also said that roles transferred to third parties include positions in its Global Service Hubs in Costa Rica, Mexico, Romania and Malaysia, as well as certain roles in Pakistan, and some digital and technology roles in Poland and Romania.

Reuters contributed to this report.

Nearly 100,000 Hyundai vehicles are being recalled due to a software glitch that could increase the risk of a crash, federal officials announced. 

The recall affects approximately 96,310 Hyundai Tucson vehicles from the 2025 and 2026 model years, according to a National Highway Traffic Safety Administration (NHTSA) notice dated June 24.

Officials said the glitch may cause the instrument panel — which displays critical information such as speed, fuel level and warning indicators — to go blank while driving, depriving drivers of essential safety data needed to operate the vehicle safely. 

“The instrument panel (‘IP’) display in the subject vehicles may intermittently reboot during vehicle operation, potentially resulting in a temporary blank display screen,” recall documents stated. 

MORE THAN 1 MILLION JEEP VEHICLES RECALLED OVER FIRE RISK AS OWNERS WARNED NOT TO PARK INSIDE

Hyundai Tucson vehicles bound for export are driven onto a vehicle carrier cargo ship in Ulsan, South Korea, on Wednesday, Jan. 21, 2026.  (SeongJoon Cho/Bloomberg via Getty Images / Getty Images)

According to the notice, the SUVs equipped with standard gasoline, hybrid and plug-in hybrid powertrains are affected.

An estimated 53,886 hybrid vehicles are included in the recall, along with 39,605 standard gasoline vehicles and 2,819 plug-in hybrid models. 

HONDA RECALLS MORE THAN 880,000 VEHICLES OVER REAR SUSPENSION FAILURE RISK

A Hyundai Tucson SUV interior is seen on Jan. 13, 2023, in Brussels, Belgium. (Sjoerd van der Wal/Getty Images / Getty Images)

As of June 2026, there are no confirmed crashes, fires or injuries in the U.S. linked to the defect, the NHTSA said. Officials estimate about 1% of the recalled vehicles are affected.

To address the issue, Hyundai will provide free software updates through dealerships or via wireless over-the-air (OTA) transmission.

The OTA update will be available for eligible vehicles enrolled in Hyundai’s Bluelink system, officials said. 

Hyundai will also reimburse owners who previously paid out-of-pocket expenses to repair the issue.

Cars are displayed outside a Hyundai Motor Company dealership in Indianapolis, U.S., May 15, 2016. (iStock / iStock)

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Formal notification letters are scheduled to be mailed to impacted owners beginning Aug. 22, 2026.

Owners can verify whether their vehicle is included by searching for their Vehicle Identification Number (VIN) on NHTSA.gov.

For additional information, owners can contact Hyundai at 855-371-9460 or reach the NHTSA Vehicle Safety Hotline at 1-888-327-4236.

FOX Business reached out to Hyundai for more information. 

NEW YORK — Shares of Texas Instruments Inc rose modestly Monday, reflecting steady investor interest in the analog and embedded processing chipmaker’s diversified business model and consistent cash generation amid broader semiconductor sector movements.

The stock gained about 1% to around $288.28 in afternoon trading, adding to recent performance as Texas Instruments continues benefiting from demand in industrial, automotive and personal electronics markets.

Texas Instruments specializes in analog chips and microcontrollers essential for a wide range of applications including power management, signal processing and embedded control. Its products are found in everything from industrial automation systems to automotive electronics and consumer devices.

The company has maintained a disciplined approach to capital allocation, returning substantial cash to shareholders through dividends and share repurchases while making targeted investments in manufacturing capacity.

Texas Instruments operates highly efficient 300-millimeter wafer fabs that provide cost advantages in analog semiconductor production. Its long product life cycles and broad customer base contribute to stable revenue streams compared to more cyclical logic chip markets.

Recent quarterly results showed resilience despite softness in some end markets. Management highlighted strength in automotive and industrial segments while navigating inventory corrections in personal electronics.

The company’s automotive business benefits from increasing semiconductor content in vehicles, driven by electrification, advanced driver assistance systems and infotainment features. Texas Instruments supplies chips for power management, body electronics and radar applications.

Industrial demand remains a key growth driver as factories automate and adopt smart manufacturing technologies. Texas Instruments’ analog products play critical roles in motor control, sensing and power systems for industrial equipment.

Monday’s share advance occurred without major company-specific news, suggesting continuation of positive sentiment from recent operational updates and broader technology sector stability. Texas Instruments shares have shown relative resilience within the semiconductor group.

Analysts maintain generally favorable views on Texas Instruments, citing its strong free cash flow, conservative balance sheet and diversified end-market exposure. Some highlight potential for margin stability as inventory situations normalize.

Texas Instruments’ manufacturing strategy emphasizes internal production for core analog technologies, providing control over quality and supply. The company has invested in expanding U.S. and international wafer fabrication capacity.

The chipmaker’s focus on long-lifecycle products reduces obsolescence risks and supports predictable revenue. Many Texas Instruments components remain in production for decades, serving both new designs and legacy systems.

Monday’s trading reflected measured buying interest. The stock has navigated volatility while trending in line with broader market performance in recent sessions.

Texas Instruments maintains a strong balance sheet with low debt levels, enabling flexibility for investments, dividends and opportunistic share repurchases. Its capital return program appeals to income-focused investors.

The semiconductor industry faces cyclical pressures even as long-term demand for electronics grows. Texas Instruments’ analog focus provides some insulation from the more volatile logic and memory segments.

Automotive electrification represents a significant opportunity. Texas Instruments supplies solutions for battery management, power conversion and motor drives essential for electric vehicles.

Industrial automation trends, including robotics and smart factories, drive demand for Texas Instruments’ sensing and control products. The company’s broad portfolio supports multiple industrial applications.

Personal electronics, while cyclical, contribute meaningfully to revenue. Texas Instruments provides components for smartphones, tablets and wearables, though this segment has faced inventory adjustments.

The company’s research and development efforts focus on advancing analog technologies and integration capabilities. Innovations in power efficiency and precision signal processing support customer needs across markets.

Texas Instruments operates with a decentralized structure that encourages business unit autonomy while maintaining company-wide financial discipline. This approach has contributed to consistent execution over decades.

Monday’s gains add to Texas Instruments’ steady performance profile. The stock reflects confidence in its business model and ability to generate cash through economic cycles.

The chipmaker’s dividend yield and history of increases attract long-term investors seeking technology exposure with income characteristics. Texas Instruments has raised its dividend for multiple consecutive years.

As artificial intelligence and data center demand influence semiconductor markets, Texas Instruments benefits indirectly through power management solutions for servers and networking equipment.

The company’s global operations span manufacturing, sales and design centers. This footprint supports customer proximity and supply chain resilience.

Texas Instruments continues evaluating strategic opportunities while maintaining focus on core analog and embedded strengths. Its conservative approach has served shareholders well through industry cycles.

Investor attention centers on inventory trends, customer demand signals and capital expenditure plans. Consistent execution supports Texas Instruments’ reputation for reliability.

The semiconductor industry’s long-term growth drivers include electrification, automation and connectivity. Texas Instruments’ portfolio aligns well with these secular trends.

Monday’s trading highlighted Texas Instruments’ relative stability within the chip sector. Its business model provides a defensive quality compared to more cyclical peers.

Texas Instruments’ role in enabling modern electronics underscores its importance in the technology supply chain. Its analog expertise remains essential across diverse applications.

As markets assess technology investments, Texas Instruments offers exposure to steady demand drivers with strong cash flow characteristics. Its trajectory depends on continued execution in key end markets.

Comcast shares jumped sharply Monday after the company announced plans to break itself in two, separating its media and entertainment businesses, including NBCUniversal and Sky, from its core broadband and wireless operations in a move that would unwind a corporate marriage forged 15 years ago.

Shares of the Philadelphia-based company were trading at $24.64 as of 12:43 p.m. EDT, up $1.47, or 6.32%, on the day. The gain marked a significant pullback from the stock’s initial reaction to the news, with shares surging more than 20% in heavy premarket trading immediately after the announcement, before paring those gains as the session progressed.

Under the plan announced Monday, Comcast will separate into two independent, publicly traded companies through a tax-free spinoff. The newly independent NBCUniversal will combine with Sky, the British broadcaster Comcast acquired in 2018, to form what the company described as a premier global media and entertainment business. That entity will include Universal’s theme parks division, the Universal Pictures film and television studio, the NBC and Telemundo broadcast networks, NBC News, the Peacock streaming service and the Bravo cable network. The remaining Comcast entity will retain the company’s connectivity-focused businesses, including Xfinity, Xfinity Wireless and Comcast Business, continuing to operate what the company has described as the largest converged broadband and entertainment network in the United States.

Comcast said it expects to complete the separation in approximately one year, contingent on customary conditions including final approval from Comcast’s board of directors, receipt of favorable tax opinions, regulatory approvals and the completion of financing arrangements for both resulting companies. NBCUniversal will carry the same dual-class share structure currently used by Comcast, and Comcast plans to retain an ownership stake of up to 19.9% in the new NBCUniversal for as long as a year following completion of the spinoff, with intentions to monetize that stake in a tax-efficient manner over time. Goldman Sachs and PJT Partners are serving as advisors on the transaction.

Leadership for the two future companies has already been mapped out. Mike Cavanagh will lead the newly independent NBCUniversal, while Michael Angelakis, a former Comcast chief financial officer, will return to run the slimmed-down Comcast. Comcast Chairman and co-Chief Executive Brian Roberts is expected to remain actively involved in the leadership of both companies going forward, working alongside the chief executives of each. Speaking with investors Monday morning, Roberts framed the move as an evolution rather than a dismantling of what the company had built.

“This is not about separating what we built together,” Roberts told investors.

Roberts went on to describe the split as an effort to give each business greater focus and flexibility to pursue its own opportunities, rather than the start of a broader wave of dealmaking. He specifically pushed back on the notion that the separation was a precursor to additional strategic transactions for either company once the split is finalized, even as industry analysts have speculated about what doors the move could open. A formal statement released by Comcast laid out the broader strategic rationale behind the decision.

“Comcast’s board and management team believe each company will be better positioned to pursue its own strategic priorities, invest for growth, and create long-term shareholder value as independent entities,” the company said.

Monday’s announcement follows an earlier restructuring move by Comcast, which spun off a collection of its cable television networks, including USA Network, Oxygen, E!, SYFY and Golf Channel, along with CNBC and MSNBC, into a separate company called Versant. That spinoff was first announced in November 2024 and formally completed at the start of this year, establishing a template of sorts for Monday’s far larger separation involving NBCUniversal itself.

Wall Street’s initial read on the move has been broadly favorable, though not without caveats. Adam Crisafulli, head of research firm Vital Knowledge, said in a note Monday that the rationale behind separating the businesses reflects long-standing investor concerns about Comcast’s traditional cable and broadband operations.

“Comcast shares have traded poorly due in large part to concerns about the secular outlook,” Crisafulli wrote.

Crisafulli added that the standalone NBCUniversal, with its theme parks, film and television studio assets, should have greater flexibility to participate in the wave of mergers and acquisitions currently reshaping the media industry, though he cautioned that concerns about the broadband business’s growth outlook are unlikely to disappear and could leave that remaining unit more exposed as a standalone company.

The timing of Comcast’s announcement places it squarely within a broader period of upheaval across the media landscape. David Ellison’s Paramount Skydance, the owner of CBS, is currently working to close a roughly $110 billion deal to acquire rival studio Warner Bros., one of several major consolidation moves reshaping the industry in recent months. Against that backdrop, some analysts have already begun speculating about whether the newly independent NBCUniversal could eventually become an acquisition target itself, with names like Netflix and Apple floated as potential suitors interested in its studio and brand portfolio, even as Comcast executives have stressed that no such outcome is the intended goal of Monday’s announcement.

The proposed breakup will still require regulatory approval before moving forward, and Comcast has not yet provided detailed estimates of the expected market valuations for either resulting company, though analysts anticipated further clarity following a scheduled call with investors Monday morning. For now, the announcement represents a striking reversal of the strategic logic that drove Comcast’s original 2011 acquisition of a controlling stake in NBCUniversal, a deal once heralded as a model for combining content creation with distribution infrastructure under a single corporate roof, and one that Comcast is now moving to unwind in pursuit of what the company describes as greater focus and value for shareholders of both resulting businesses.

A week ago, I wrote that leadership had left the mega-cap “generals” and split into two baskets: semiconductors (velocity) and regional banks (breadth). That’s still true. But the dashboard has been quietly flagging a third group climbing the leaderboard, and this week it’s undeniable: biotech

California state agencies and local governments may access Anthropic’s Claude artificial intelligence platform at a 50% discount, Democratic Gov. Gavin Newsom’s office said on Monday.

“Through the agreement, state agencies may access Anthropic’s AI productivity assistant, Claude, at a 50% discounted price, coupled with free workforce training as well as expert GenAI technical assistance and workflow input from Anthropic developers. The agreement also provides the same discounted offer for California’s local governments, including cities and counties,” a press release announced.

“Claude is the first AI productivity tool that will be available to all State agencies though the California Department of Technology’s new Statewide Information Technology Shared Services (SITeS) portal. The portal centralizes AI tools in one place with transparent pricing around key business use cases — such as improving operational efficiency, enhancing data security, and optimizing state worker experience,” the announcement continued. 

AI COULD UNLEASH ‘SINGLE GREATEST PRODUCTIVITY REVOLUTION’ IF WASHINGTON AVOIDS OVERREACH: REPORT

Gavin Newsom, Governor of the US state of California, takes part in the 62nd Munich Security Conference. (Marijan Murat/picture alliance via Getty Images / Getty Images)

Newsom, who has been in office since early 2019, is term limited from running again this year — he won re-election in 2022 after surviving a recall contest in 2021.

“This partnership is about using technology the California way: responsibly, transparently, and in service of people. AI should not replace the human work of government; it should help our workers move faster, solve problems more effectively, and deliver better results for Californians,” the governor said in a statement.

“As a California company, we feel a real responsibility to our home state. We’re honored to expand our partnership with California’s agencies and to put Claude to work for the people who keep this state running,” Anthropic Head of Americas Kate Jensen said. “Building AI responsibly and in service of people has been our approach from the start, and that’s exactly what this partnership puts into practice.”

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CEO of Anthropic Dario Amodei attends a working lunch with G7 leaders, G7 outreach partners, and global tech CEOs on innovation and AI, during the G7 Summit on June 17, 2026, in Evian-les-Bains, France.  (Anna Moneymaker/Getty Images / Getty Images)

The governor’s office indicated that the state has already been utilizing Claude.

“California has already implemented some use of Claude in state government, including using the tool to facilitate Engaged California, a first-in-the-nation deliberative democracy platform announced by Governor Newsom last year, that helps provide Californians with a stronger voice in policymaking,” the office noted. “Claude was also used in the state’s development of Poppy – a simple AI tool designed by state workers for state workers through pre-built, easy-to-use queries tailored to common state business needs, facilitating more reliable, trustworthy outcomes.

“As a California company, we feel a real responsibility to our home state. We’re honored to expand our partnership with California’s agencies and to put Claude to work for the people who keep this state running,” Anthropic Head of Americas Kate Jensen said in a statement. “Building AI responsibly and in service of people has been our approach from the start, and that’s exactly what this partnership puts into practice.”

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“CDT and CalOES are partnering to use Claude for cyber defense — Claude Security and Claude Code for scanning, triaging, and patching state code. Among the largest agencies, CA DMV is using Claude to improve customer service and lower wait times, and CA Dept of Healthcare Services, the largest Medicaid Agency in the country, is using Claude for internal workflows to better assist Medicaid recipients,” the press release said.

Casey’s General Stores is betting bigger on stores, food and tech as it looks to extend its growth streak.

The Ankeny, Iowa-based company recently unveiled a new three-year plan centered on expanding its prepared food business, adding new stores and using technology to run more efficiently.

Casey’s plans to add at least 400 stores over the next three years through acquisitions and new builds. The company operates more than 2,900 convenience stores and says it is the nation’s third-largest convenience store retailer and fifth-largest pizza chain.

“We made a commitment to grow our EBITDA by 8% to 10%, which is top-quintile growth for the S&P 500,” CEO Darren Rebelez told FOX Business. “We’ll do that through growing our prepared foods business, growing our store base and running our business more efficiently.”

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Casey’s General Stores is betting on more stores, more food and more technology as the convenience chain looks to keep its growth streak going. (Casey’s)

Rebelez said Casey’s is coming off “the best three-year cycle” in company history after beating its prior targets, adding more than 500 stores and joining the S&P 500. The company’s stock is up more than 53% year-over-year.

Food remains a key part of Casey’s growth strategy. The company, long known for its pizza, is pushing deeper into made-to-order items such as wings and fries.

Rebelez said wings are now available in 850 stores, with bone-in and boneless options, five sauces, three dry rubs and ranch made from scratch daily.

“We’re famous for our pizza, we still have a long runway for growth there with innovation and new items that we’ve introduced more recently,” he said. “But now we have the wings platform.”

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Casey’s CEO Darren Rebelez said Casey’s is coming off “the best three-year cycle” in company history after beating its prior targets, adding more than 500 stores and joining the S&P 500. (FOX Business / Fox News)

Casey’s sees its food business as competing more with restaurants than other convenience stores.

“We really don’t look at the convenience store industry as a competitor for our prepared foods. We’re really competing with the restaurant business,” Rebelez said.

In Des Moines, where wings have been available for more than a year, sales are up roughly 20% year over year, according to the company.

Casey’s is also looking to expand “Casey’s Country” by opening stores in current and new markets.

“Our growth strategy is expanding Casey’s Country in a disciplined way,” Ena Williams, chief operations officer at Casey’s, said in a statement. “We’ve shown that we can grow through both new stores and acquisitions.”

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The company, long known for its pizza, is leaning further into made-to-order offerings, including wings and fries. (Casey’s / Fox News)

The company is additionally investing in artificial intelligence, forecasting tools and digital platforms such as the Casey’s app and Casey’s Rewards to help improve efficiency and strengthen the guest experience.

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Rebelez said investors have responded to Casey’s consistency and its hybrid position between convenience retail and quick-service restaurants.

“We sell fuel, we sell grocery and general merchandise, and we have prepared food, so we can compete in either space.”

Some analysts have questioned whether those recent productivity figures are reliable, in part, because some of the high growth spots are in residential areas, and that they could be explained in part by errors in the data, external.

Nevertheless, many economists do think Greater Manchester has performed better than other UK city regions over the past 15 years – and they argue it’s justified to partially attribute this to the devolution of powers, particularly on transport, planning and housing.

Devolution has helped to deliver this record on housing because the Greater Manchester mayoralty is empowered to set the city-region’s housing strategy, direct housing investment funding and co-ordinate affordable housing programmes. Devolution has enabled the increase in investment because one of the devolved roles of the mayor of a city region is to encourage companies to invest in an area, particularly multinationals, to create jobs and drive local growth.

Some economists also point to the Bee Network of buses which brought the system under control of the mayoralty, and the encouragement of private sector investment in Manchester city centre.

“There’s been a recognition [among the Greater Manchester leadership] that the future of Manchester is a big city that is offering lots of different opportunities, but particularly to higher value added activity,” says Andrew Carter of the Centre for Cities think tank.

“They’re prepared to do what is required – build the housing, support the expansion of the university, support research and development, try to introduce a transport system which really supports all of that kind of stuff. And as a result you become more attractive to investment, whether it’s foreign or domestic.”

Rob Heath will start his role in September

Bristol Waste, the council-owned body responsible for street cleaning and recycling, has appointed a new managing director. Rob Heath, who will take up the role in September, has pledged to deliver “reliable services” across the city.

Mr Heath has nearly 40 years of experience in the waste management and environmental services sector. He started his career in the industry as a driver before moving on to site management roles and later executive positions with companies including Biffa and SUEZ.

He is currently executive operations director for Cheltenham-based environmental services firm Ubico.

A spokesperson for Bristol Waste said Mr Heath “deeply understands” the organisation and “the vital daily work” its staff perform across Bristol.

“Having worked across all levels of environmental services, from driving — almost 40 years ago — to directing operations, I know how vital our frontline work is to local communities,” said Mr Heath.

“I look forward to working closely with Bristol City Council, building on Bristol’s innovative and dedicated attitude towards sustainability, and ensuring we continue to deliver reliable services that residents can be proud of.”

Andrew Pollard, chair of Bristol Waste Company, said he was “delighted” to have attracted someone of Mr Heath’s “calibre” to lead the business.

“Rob brings considerable experience in the waste management and recycling sector, particularly in Teckal trading businesses like ours, and a strong track record of leadership in operational services,” he said.

“The team and I very much look forward to working with him as we continue to strengthen Bristol Waste Company’s profile and reputation and deliver for the city in the years ahead.”

Councillor Tony Dyer, leader of Bristol City Council, added: “Our city’s residents value clean streets and neighbourhoods and we are committed to investing in measures that will help to reduce litter and fly-tipping, improve reliability of collections whilst decarbonising our fleet and make it easier for people to reduce their waste and recycle more.

“Rob’s leadership and experience will be key to delivering on these priorities and I look forward to working closely with him and the team as we drive forward these important improvements.”

For the last financial year, Bristol Waste turned over £65.8m – up from £63.3m a year earlier. The latest available documents on Companies House show the organisation narrowed its total losses for the year to the end of March 2025 to £507,064, compared to a loss of £961,436 the year before.

At that time, Bristol Waste had total equity of £7m.