Business
Institutional homebuying ban will lower prices long-term
Invitation Homes CEO, who is the largest single family rental landlord in America, believes that the housing law passed recently, which prohibits people like him to buy existing houses, will lower prices over time, but not immediately.
Dallas Tanner, CEO of Invitation Homes, said: “I think it will definitely happen in the long term.” I think that 90% of this bill is devoted to deregulation. How can we make it easier to get capital into the housing market? Is there a way to boost the challenges we face on our supply side? It’s harder to do overnight, in the short term. There’s much more than what’s addressed by the bill.”
Tanner cited the volatility of mortgage rates, construction costs that are high, as well as zoning issues and regulatory imbalances.
Donald Trump demanded a ban in early January on the purchase of single-family rental homes by large investors. On social media, he wrote, “People don’t live in corporations, they live in houses.” The move was part of an effort to address the housing affordability crisis. Some claimed that institutional investors were driving owner-occupants from the housing market, and inflating prices.
In July the ban was passed, which prevents investors with more than 350 properties from buying any new units. However, they can buy single-family houses that are specifically designed for renting. Invitation Homes has a strong focus on this market.
Our focus, as an industry as well as as a business was on how to create new housing supply today. Tanner said that in partnership with home builders we built or purchased over 6,000 homes during the past five years.
Invitation Homes purchased ResiBuilt in January just a few weeks after Trump posted his post. The company has purchased rental homes from Pulte Homes, Lennar and other large builders.
We found out through trials and errors that the new product we offer, our beta product or what we sell in these master-planned developments, works really well. We were indexing that and it was part of our strategy for growth,” Tanner said, adding that hundreds of the older rental properties have been sold.
According to different sources, the largest investors, who own more than 1,000 houses, make up less than 3 percent of the rental single-family market. According to Urban Institute, they do have a large footprint in some metropolitan areas, such as Atlanta, where 25% of the single-family housing is owned by investors, Jacksonville (21%), and Charlotte (18%).
Invitation Homes posted better than expected earnings by the end of July despite the fact that rents are lower and the demand is not as high as it was in the early years of pandemic.
We’ve experienced a fundamental reset. On our last earnings conference, we talked about this. Tanner said, “We’re beginning to see some pretty positive green sprouts in some of our markets.” But we are really focused — How do we navigate and what does it mean?
Business
Powerball player in Illinois wins $1 billion jackpot
According to lottery officials, a Powerball ticket purchased in Illinois that matched six of the numbers drawn on Wednesday evening won an estimated $1,04 billion in jackpot.
The winning numbers are 4, 26, 66 67 69, and red Powerball 9
The jackpot is the eighth-largest Powerball in history.
Winners can choose between an annuitized payment over 29 years, or a cash lump sum of $450 million. The prizes both are tax-free.
The last time a jackpot was won on May 2, it had been 44 consecutive draws.
The biggest U.S. Lottery prize in history was $1.8 billion won by a Christmas Eve Powerball winner.
The third largest prize ever won by the U.S. Lottery was a $1.787 billion Powerball Jackpot in September 2025. Two tickets from Missouri and Texas were involved.
Please check back for updates. Check back often for the latest updates.
Business
Illinois Powerball ticket wins $1.04 billion jackpot
The $1.040 billion Powerball jackpot was won by a ticket purchased in Illinois that matched the six winning Powerball numbers.
According to Powerball, the grand prize is worth an estimated $450.5million and it ranks eighth in terms of Powerball jackpots ever won.
On Nov. 7, 20,22, a Powerball ticket purchased in California won the largest jackpot ever in U.S. lottery history. The prize was $2.04 trillion. A $1.817 Billion Powerball Jackpot won on Christmas Eve is the second largest prize ever in U.S. Lottery history.
The numbers drawn on Wednesday are 4, 26, 66 67, and 69. The Power Play multiplier is 2x.
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Stephen Durrell is the executive director and chairperson of Kansas Lottery’s Powerball Product Group. He congratulated the newest Powerball Jackpot winner from Illinois.
Durrell added, “For over three decades Powerball has proven that winning tickets can be purchased anywhere. Every $2 ticket gives the opportunity to not only change the life of the winner, but also generations yet to come.” As participation grows across all markets, the players help fuel bigger jackpots and increase excitement about the game.
The winner can choose between annuitized $1.040 billion prize or $450.5 millions in lump sum payment.
The prize amounts are both before tax.
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The winner who chooses annuity will get a one-time payment, followed by 29 payments per year that are increasing by 5% every year.
Four more tickets purchased in Arizona, California and Florida, as well as North Carolina, matched the five white balls. Match 5 prizes are $1 million, except for California where payouts depend on pari-mutuel. According to Powerball, the fifth ticket purchased in Massachusetts matched the five white balls, and also included the Power Play Option for $1 more, which doubled the prize amount to $2,000,000.
Last time the Powerball jackpot won was May 2 when two tickets purchased in Florida and Texas shared a prize of $20 million.
The jackpot won on Wednesday was the biggest Powerball win so far in this year. This was the first time that players from United Kingdom have been included in this current run of jackpot drawings.
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For the Saturday drawing, the jackpot is reset at $20,000,000.
Powerball has a 1 in 292.2million chance of hitting the jackpot.
Business
Powerball player in Illinois wins $1 billion lottery jackpot
According to lottery officials, a Powerball ticket purchased in Illinois that matched six of the numbers drawn on Wednesday evening won an estimated $1,04 billion in jackpot.
The winning numbers are 4, 26, 66 67 69, and red Powerball 9 Power Play was multiplied by 2x.
The jackpot is the eighth-largest Powerball in history.
Winners can choose between an annuitized payment over 29 years, or a cash lump sum of $450 million. The prizes both are tax-free.
The last time a jackpot was won on May 2, it had been 44 consecutive draws.
The biggest U.S. Lottery prize in history was $1.8 billion won by a Christmas Eve Powerball winner.
Business
Whole Foods recalls foods in 12 states over salmonella risk
Whole Foods announced on Wednesday it was recalling some produce and foods prepared with fresh jalapenos provided by Coast Citrus Distributors due to possible salmonella contamination.
Food and Drug Administration stated that the products with “Best Before” date ranges from August 7 to 16 were sold across 12 states.
According to FDA, no illnesses were reported as a result of the Whole Foods recall.
Whole Foods announced that the recall covers select salsas and prepared food, including guacamole. The FDA website has a complete list of the affected products.
As the JALAPENO SALMONELLA outbreak sickens 345, 18 PREPARED FOODS ARE UNDER ALERT.
These products are sold in Texas and Oklahoma as well as Louisiana, Wisconsin, Michigan Illinois, Iowa Missouri, Arkansas Indiana Kentucky, Ohio, Wisconsin.
Whole Foods’ spokesperson stated that the recall on Wednesday was due to jalapenos in the product, which were purchased from Coast Citrus Distributors. The products are also linked with the recall of the distributor. Taylor Fresh Foods announced a recall on Sunday that included some of the same products.
Whole Foods’ action coincides with a larger salmonella outbreak that is linked to jalapenos and has hospitalized 345 individuals in 27 states.
Before Whole Foods’ announcement, a USDA alert on public health in Sinaloa (Mexico) had identified at least 18 meat and poultry ready to eat products distributed by Coast Citrus Distributors.
Nearly 30,000 pounds of RAW beef were recalled due to a missed import inspection
Taylor Farms announced on Monday a voluntary recall of jalapenos-containing prepared foods sold in Walmart, Whole Foods and other retailers across several states due to possible salmonella contamination.
The FDA reminded consumers to return any recalled Whole Foods product they purchased or to bring their receipts to Whole Foods Market for a refund.
Federal regulators say that illnesses associated with the jalapeno epidemic began between 2026 and June 19.
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The outbreak has affected several large brands and retailers, such as Taylor Farms and Deli Kitchen. It also affects Marketside, Wawa and Albertsons.
According to officials, Chipotle Mexican Grill and QDOBA received the same jalapenos from Sinaloa.
Chipotle has switched their jalapeno suppliers at the affected restaurants beginning July 20, and will no longer serve this product. QDOBA, meanwhile, stopped serving jalapenos in all its locations as of July 28,
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Coast Citrus Distributors agreed to recall all remaining product implicated in the outbreak and will no longer import jalapenos produced by the linked grower.
Salmonellosis is caused by food contaminated with the salmonella bacteria. Symptoms include diarrhea, abdominal cramps, and fever.
Business
Former Google Exec Has Been in Talks for a $10 Billion Valuation for AI Startup
Jeff Dean worked on Google for 27 years. Investors could now bet $1 billion on his ability to build the next great thing in AI without Google.
Business Insider reported that the legendary Google engineer was in talks for $1 billion of financing for his AI startup Discovery Loop. The valuation for this new venture is around $10 billion.
Discovery Loop was one of Silicon Valley’s most discussed startups over the last week after Dean announced his resignation. Dean is a Google legend and was a pioneer in the field.
The details of the game could be altered. Dean’s representative declined to make any comments.
Dean, who hasn’t publicly disclosed fundraising details, has made it clear what the company, Discovery Loop is all about. He described the public benefit corporation on X, as a “public service corporation whose mission to automate machine-learning, science and engineering in order to accelerate progress and discoveries.”
Through “the parallel execution of thousands” of experiments, the company hopes to solve some of the most difficult problems in science and engineering.
According to a press release by Discovery Loop dated August 5, the initial round of funding for this company is led by Radical Ventures with Kleiner Perkins and Doerr Capital participating. Google CEO Sundar Pichai said that Alphabet was a founding partner and investor in the cloud.
Discovery Loop founders have decades of experience in building Google’s biggest products.
Sanjay Ghemawat, a longtime collaborator of Dean who joined Google in 1999, helped develop foundational distributed-computing technologies. Quoc le, one of the founding members of Google Brain became an expert in large-scale networks and deep learning, and contributed to advancements in foundational models. Oriol Vinyals was also a Google DeepMind researcher who specialized in sequence modeling, reinforcement learning, and other foundation models.
Dean showed a presentation on X, which a former Google product manager called “one the most stacked presentations ever created.”
The slide shows the products that were developed by Google’s founding team, such as Ads, Gemini and Gmail. One slide shows the academic qualifications of Dean, Le and Vinyals, based on Google Scholar ranking.
Discovery Loop is the latest team of Google employees to leave the company in order to fund new AI startups.
David Silver, a former DeepMind researcher, raised $1.1billion this year for Ineffable Intelligence. His new lab is focused on creating AI that can learn from experience. Former DeepMind researchers Misha Lakin and Ioannis Antoglou raised money at an estimated valuation of $25billion pre-money for Reflection AI.
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