Billionaire investor Leon Cooperman discusses artificial intelligence performance and market uncertainty amid geopolitical concerns on ‘The Claman Countdown.’
Gary Shilling, the legendary forecaster known for his bearish accuracy and being fired from Merrill Lynch for predicting the 1969-70 recession, is sounding the alarm on a 2026 economic collapse.
In a recent interview with Business Insider, Shilling warned that a U.S. recession is “almost inevitable” by year-end, driven by a “frozen” housing market, corporate investment indicators and a weakening consumer base.
Advertisement
“Stocks are very expensive and there probably is a major correction coming somewhere in the relatively near future,” Shilling said. “A decline of 20% or 30% is no big deal by historical standards. So I would say that’s probably in the cards.”
“I’ve sort of made a career looking for those hidden flaws, and I don’t see anything right now that is just screaming for a big sell-off, but that doesn’t mean it isn’t there,” he added.
Traders work on the floor of the New York Stock Exchange during morning trading on May 1, 2026, in New York City. (Getty Images)
Across American real estate, buyers and sellers have been reluctant to make moves as interest rates remain elevated, and mortgage loan rates slowly tick down. There is also a lack of affordable inventory and reports of rising foreclosures, signaling homeowners continue to get squeezed.
Advertisement
Shilling also pointed to what he described as a “collapse” in capital expenditures, or large investments that companies expect will last for years and boost overall future value. Business Insider cited that broader capital expenditures grew just 3.9% by the end of 2025, compared with a pandemic peak of 24% capex growth.
The economist spotlighted the state of the U.S. consumer as the third pillar leading to a recession, with the Federal Reserve’s preferred inflation gauge remaining stubbornly high in March, rising 0.7% month-over-month and up 3.5% from a year ago.
Former White House Council of Economic Advisers Chair Tyler Goodspeed discusses the economic impact of the Iran conflict and whether the U.S. is facing a recession on ‘Mornings with Maria.’
When it comes to economic solutions, Shilling said a downturn could be prevented by fiscal stimulus or a strengthening consumer — “both of which he thinks are unlikely.”
Advertisement
“That’s really on very thin ice in terms of income, in terms of people’s willingness to spend,” Shilling said.
BNY Wealth head of investment strategy and equities Alicia Levine discusses investing amid the geopolitical conflict on ‘Making Money.’
Other economists appear divided on the economic outlook for 2026. BNY Wealth Head of Investment Strategy and Equities Alicia Levine said no recession is coming on “Making Money with Charles Payne” last month; around the same time, billionaire investor Leon Cooperman told FOX Business’ Liz Claman that the U.S. is heading toward a recession.
Advertisement
“My own view is, there’s a lot of problems out there. The market’s too highly valued,” Cooperman said.
“It just feels that the market was already weakening going into the Iran conflict,” Levine countered. “Earnings have moved higher since the beginning of the year, 3% higher… that’s what we’re looking at, and we don’t see a recession this year.”
Developer argues site meets ‘grey belt’ criteria and cause only minor harm
Belinda Ryan and Local Democracy Reporter
16:00, 06 May 2026
Bellway Homes wants to build up to 70 homes on land west of Wilmslow Road at Alderley Edge(Image: Local Democracy Reporting Service)
Plans have been submitted for up to 70 homes on green belt land at Alderley Edge.
Advertisement
Bellway Homes wants to build the dwellings on 3.18 hectares of pastoral agricultural land west of Wilmslow Road.
Access to the development would be via a priority T-junction from Wilmslow Road.
A design and access statement, submitted with the outline application, states: “The scheme demonstrates the future ability to include detached, semi-detached and mews style two to five-bed dwellings, up to 2.5 storeys in height with associated car parking and landscaping.”
The proposals include 45 per cent affordable housing, about 0.92 hectares of landscaping, public open space and ecological areas and ‘significant’ area of public open space across the site, according to the planning statement.
Advertisement
The planning statement, submitted by Savills on behalf of the applicant, says the proposed development is in a sustainable location within walking and cycling distance of key services and facilities, as well as active travel and public transport options.
It also argues the site meets grey belt criteria and so would not be inappropriate development in the green belt.
“The scheme would result in the delivery of up to 70 homes at a time when the council cannot demonstrate a requisite level of housing land supply for the five-year period,” says the planning statement.
“The proposals also deliver 45 per cent affordable homes.
Advertisement
“Other moderate and minor benefits are associated with economic impacts, provision of new publicly accessible open space, and biodiversity net gain.”
The application site for up to 70 homes on land west of Wilmslow Road at Alderley Edge(Image: Local Democracy Reporting Service)
It acknowledges ‘minor harm’ in terms of localised landscape and visual impact, and contravention to the out-of-date open countryside policy.
But it says ‘these limited harms do not outweigh the significant benefits’.
The planning document concludes: “The site represents a much-needed residential development in a sustainable location which has been designed to be in keeping with the character of surrounding area and land uses.”
Advertisement
The application, number 26/1143/OUT, can be viewed on the planning portal on Cheshire East Council’s website.
The last date for submitting comments is May 27.
To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.
LONDON — Catherine, Princess of Wales, will travel to northern Italy next week for a two-day solo working visit, marking her first official overseas royal engagement since undergoing cancer treatment and signaling another major milestone in her steady return to public duties.
Princess of Wales Heads to Italy: Kate’s First Overseas Trip Since Cancer Treatment AFP
Kensington Palace announced Wednesday that the 44-year-old future queen will visit Reggio Emilia on May 13 and 14 to explore the city’s world-renowned approach to early childhood education and development. The trip aligns with her lifelong passion for supporting young children and expands the international reach of The Royal Foundation Centre for Early Childhood.
This will be Catherine’s first overseas royal trip since accompanying Prince William to Boston in December 2022. She has not undertaken extended foreign engagements in more than three years, following her cancer diagnosis announced in March 2024.
A Passion Project Goes Global
The Reggio Emilia approach, developed in the Italian city after World War II, emphasizes child-led learning, creativity, strong relationships and environments where “nature and loving human relationships come together to support children’s development,” according to palace statements. Catherine is expected to meet educators, parents, children and local leaders during the visit.
A Kensington Palace spokesperson said the princess is “very much looking forward to visiting Italy next week and seeing first-hand” the innovative methods. The trip represents a “significant next step” in taking her early years work onto the global stage.
Advertisement
Catherine launched The Royal Foundation Centre for Early Childhood in 2021 to highlight the critical importance of the first five years of life. She has described it as her life’s work, driven by research showing that positive early experiences shape lifelong outcomes in health, education and emotional well-being.
Cancer Battle and Gradual Return
Catherine revealed in March 2024 that she had undergone major abdominal surgery in January of that year, followed by preventative chemotherapy for an undisclosed form of cancer. She stepped back from public duties during treatment but shared emotional updates, including a powerful video message in March 2024 and confirmation in January 2025 that she was in remission.
Her return to royal life has been carefully paced. She rejoined family appearances at Trooping the Colour in June 2025, attended Wimbledon, and gradually increased her workload throughout 2025 and early 2026. Recent engagements in London showed her in good spirits as she prepared for the Italy trip.
The solo nature of the Italy visit underscores her growing confidence in resuming a fuller schedule while managing energy levels post-treatment. Palace aides have emphasized that her health remains the priority, with all travel and activities planned accordingly.
Advertisement
Significance for the Royal Family
The announcement comes at a time when the monarchy is navigating multiple transitions. King Charles III continues his own cancer treatment and recovery, while Prince William balances increased responsibilities with support for his wife. The couple’s three children — Prince George, 12, Princess Charlotte, 11, and Prince Louis, 8 — are expected to remain in the UK during the short trip.
Royal watchers see the Italy visit as symbolic of Catherine’s resilience and commitment to her patronages. It also highlights Britain’s soft power through cultural and educational diplomacy, building on longstanding ties with Italy.
Fans and well-wishers reacted with joy online, praising Catherine’s dedication. Many noted the personal significance of her returning to international duties after a challenging period. “This is wonderful news — Kate is an inspiration,” one social media user commented.
Looking Ahead
Details of the itinerary remain limited, but the two-day program is expected to include site visits to early childhood centers, discussions with experts and opportunities to observe classroom practices. No formal state elements are planned, keeping the focus on her charitable work.
Advertisement
The trip follows Catherine’s recent domestic engagements and comes ahead of a busy summer schedule that may include more high-profile appearances with the family. It also sets the stage for potential future joint overseas tours with Prince William.
Catherine’s openness about her health journey has resonated widely, raising awareness about cancer and encouraging others facing similar battles. Her emphasis on early childhood remains a consistent thread, even as she balances recovery with royal responsibilities.
As the Princess of Wales prepares for her journey to Reggio Emilia, the visit promises not only to advance her signature cause but also to showcase her strength and optimism after a deeply personal health challenge. For a woman who has become one of the most admired figures in the royal family, this return to the international stage feels like a hopeful new chapter.
Italy, with its rich history and pioneering educational philosophy, provides a fitting backdrop for Catherine’s first post-treatment overseas mission. As she steps onto foreign soil once more, the world will be watching a princess who has faced adversity with grace and emerged more committed than ever to making a difference for the youngest members of society.
Fanatics Betting & Gaming CEO Matt King discusses Superbowl bets, a commercial collaboration with Kendall Jenner and more on ‘The Claman Countdown.’
Seattle Seahawks linebacker and recent Super Bowl hero Derick Hall and his mother, Stacy Gooden-Crandle, have partnered with the classic American diaper brand Huggies to share Hall’s story of survival as an infant.
Hall and Gooden-Crandle starred in the brand’s “Natural Born Fighters” advertisement, showcasing Hall’s miraculous journey from a baby with a 1% chance to live to Super Bowl champion. The campaign celebrates Hall and other figures in history who were born in the neonatal intensive care unit (NICU) with low survival chances after premature births, including Albert Einstein and Isaac Newton.
For Gooden-Crandle, the partnership is rooted in memories that she still holds close.
Derick Hall #58 of the Seattle Seahawks looks on from the sideline during the national anthem prior to an NFL football game against the Atlanta Falcons at Mercedes-Benz Stadium on December 7, 2025, in Atlanta, Georgia. (Perry Knotts/Getty Images / Getty Images)
“Both of my children actually wore Huggies,” she said. “And I actually had one of their very first diapers… but now you gotta think, that’s 25 years ago, think about all the designs that they’ve done now… working with the NICU nurses and doctors to develop a diaper specifically for NICU babies, that to me states the best fight that you could ever want to have for a brand that wants to make sure that NICU babies have the best opportunities at the very beginning of their fight.”
Derick Hall #58 of the Seattle Seahawks holds the Vince Lombardi trophy on stage with his teammates after winning the NFL Super Bowl LX football game against the New England Patriots at Levi’s Stadium on February 8, 2026, in Santa Clara, California. (Brooke Sutton/Getty Images / Getty Images)
Hall had a 1% chance of survival when he was born four months premature at just 23 weeks gestation, weighing just two pounds, nine ounces. He was born without a heartbeat, suffering from a brain bleed.
“I wasn’t born … breathing,” he told Fox News Digital. “I was born dead.
Gooden-Crandle told Fox News Digital those first days of her son’s life were filled with uncertainty and fear.
“Emotional, a lot of uncertainty, scared,” she said of her emotions in the days that followed her son’s premature birth. “But… those weren’t the feelings that I was feeling during Derick’s birth. I just trusted that God would work everything out.”
The journey paid off as Hall made his mark on NFL history when he came up with a tone-setting strip sack in the Super Bowl against the New England Patriots this February.
Derick Hall #58 of the Seattle Seahawks strip sacks Drake Maye #10 of the New England Patriots during the third quarter of the NFL Super Bowl LX football game at Levi’s Stadium on February 8, 2026, in Santa Clara, California. (Brooke Sutton/Getty Images / Getty Images)
“You can’t tell me that a child with a one percent chance to live… ends up being a Super Bowl champion one day without the Lord being in their lives,” Hall said. “That’s a miracle in itself.”
Small Business Administration Administrator Kelly Loeffler joins ‘Mornings with Maria’ to tout President Donald Trump’s small business agenda, highlight job growth from tax cuts and detail a crackdown on $22B in suspected fraud.
As the U.S. approaches its 250th anniversary, small businesses remain a cornerstone of the American economy, employing nearly half of the private sector workforce and powering communities across the country.
On Staten Island, that story is playing out in real time for restaurant owner Rob DeLuca.
Advertisement
DeLuca didn’t initially plan on a career in hospitality. His father worked in construction and at one point told him to find a different path. That push led him to a job bussing tables at a local restaurant. What started as a fallback quickly became something more.
“I worked while I went to school, got my bachelor’s and my master’s,” DeLuca told FOX Business. “I almost went to law school, but the restaurant was always calling me back.”
Young male chef making Bolognese pasta in a commercial kitchen. Close-up. (Getty / Getty Images)
More than 20 years later, DeLuca now owns three restaurants: DeLuca’s Italian Restaurant, a high-end dining establishment he opened nine years ago; Don Roberto’s, a classic Italian concept; and Rocky’s Pizza Bar. Together, they make up what he refers to as the “Delucaverse,” a growing portfolio of brands rooted in the same community.
DeLuca says prices have risen roughly 20% over the past year alone, driven largely by persistent supply chain pressures that began during the pandemic and never fully eased.
“The food cost supply chain has gone through the roof,” he said. “Suppliers bumped up prices during COVID, and we thought it would be temporary. It didn’t come back down. And now with global tensions impacting gas prices, it affects the supply chain and food prices almost instantly.”
Advertisement
Those increases are especially difficult to navigate in a neighborhood like Staten Island, where much of his business comes from repeat customers.
“People are very price conscious right now,” DeLuca said, adding that customers notice when dishes increase in cost from $13 to $19 to $22, for example.
Even so, DeLuca says the passion for the work keeps him going, despite the long hours and mounting responsibilities.
“Every day I wake up with a smile because I don’t feel like I’ve worked a day in my life,” he said. “But it’s a lot of work. I have two small children I want to spend time with… and at the end of the day, the buck stops with me.”
His story reflects a broader reality for small business owners nationwide: balancing rising costs, shifting consumer behavior, and the weight of running an operation where every decision matters.
Employees talk amongst themselves at a small business. (Getty Images)
Still, many are adapting. From policy shifts aimed at boosting domestic production to the growing use of artificial intelligence, now used by a majority of small businesses, owners are finding new ways to stay competitive.
A computer screen displays an image of artificial intelligence. (iStock)
For DeLuca, the focus remains on consistency and community: keeping his restaurants running, maintaining quality, and serving the customers who have supported him from the beginning.
It’s a model that has defined Main Street for generations and one that continues to evolve as small businesses navigate the challenges ahead.
Rav Wilding joins us with the latest crime headlines.
From a shocking BBC investigation exposing scammers abusing dogs to con animal lovers, to how to spot a shop used by organised crime — plus why Paddington Bear needed a police escort.
To watch this with subtitles go to BBC iPlayer and search for Morning Live from 06/05/2026.
The state government has committed another $1.5 billion to its housing spend ahead of the budget, while at the same time ruling out any significant changes to stamp duty.
You must be logged in to post a comment Login