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PayPal CEO Alex Chriss speaks at the Global Fintech Fest in Mumbai, India, on Oct. 7, 2025.Indranil Aditya | Nurphoto | Getty ImagesPayPal said Monday that it has applied for approval to form PayPal Bank, which would be able to offer loans to small businesses.”Establishing PayPal Bank will strengthen our business and improve our efficiency, enabling us to better support small business growth and economic opportunities across the U.S.,” PayPal CEO Alex Chriss said in a statement.The U.S. Federal Deposit Insurance Corporation will review an application proposing the establishment of PayPal Bank, along with Utah’s Department of Financial Institutions, PayPal said. The…

MELBOURNE, Australia (AP) — A mass shooting in which 15 people were killed during a Hanukkah celebration at Sydney’s Bondi Beach was “a terrorist attack inspired by Islamic State,” Australia’s federal police commissioner Krissy Barrett said Tuesday.The suspects were a father and son, aged 50 and 24, authorities have said. The older man was shot dead while his son was being treated at a hospital on Tuesday.A news conference by political and law enforcement leaders on Tuesday was the first time officials confirmed their beliefs about the suspects’ ideologies. Prime Minister Anthony Albanese said the remarks were based on evidence…

WASHINGTON (AP) — The U.S. military said Monday that it attacked three boats accused of smuggling drugs in the eastern Pacific Ocean, killing a total of eight people as scrutiny over the boat strikes is intensifying in Congress.The military said in a statement on social media that the strikes targeted “designated terrorist organizations,” killing three people in the first vessel, two in the second boat and three in the third boat. It didn’t provide evidence of their alleged drug trafficking but posted a video of a boat moving through water before exploding. President Donald Trump has justified the attacks as…

Barry Biffle, president and CEO of Frontier Airlines, prior to a Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing in Washington, Sept. 30, 2025.Kent Nishimura | Bloomberg | Getty ImagesFrontier Group Holdings, the parent company of budget airline Frontier, replaced its nearly decade-long CEO, Barry Biffle, with the carrier’s president, the company said Monday.James Dempsey took over as interim CEO, effective immediately.”Jimmy has been an invaluable member of Frontier’s senior leadership team for more than 10 years and has played an instrumental role in the company’s evolution and growth during that time,” Board Chair Bill Franke, a…

Bill Schmitt Jr. (C) joins cannabis reform protesters outside the White House to call on U.S. President Joe Biden “to take action on cannabis clemency before the November general election” October 24, 2022 in Washington, DC.Win Mcnamee | Getty ImagesPot stocks failed to light up for a second day on Monday even after President Donald Trump confirmed he’s considering an executive order loosening regulations on marijuana.The Amplify Seymour Cannabis ETF (CNBS) took a leg up in afternoon trading after Trump said he was weighing reclassifying the drug. Still, the fund was down nearly 7% with investors taking profits following a…

A vehicle Tesla is using for robotaxi testing purposes on Oltorf Street in Austin, Texas, June 22, 2025. Tesla execs said over the weekend that the EV maker is testing its driverless cars on Austin public roads with no people on board.Tim Goessman | Bloomberg | Getty ImagesNearly six months after launching a limited Tesla Robotaxi service in Austin, Texas, with safety drivers in the car, the company says it is testing driverless vehicles in the city without humans on board.”Testing is underway with no occupants in the car,” CEO Elon Musk wrote in a post on his social network…

Water vapor and smoke rise from a Korea Zinc Co. smelting factory in Ulsan, South Korea, Oct. 21, 2024.SeongJoon Cho | Bloomberg | Getty ImagesThe Defense Department is getting a 40% stake in a $7.4 billion mineral smelter to be built in Tennessee in partnership with Korea Zinc, Reuters reported Monday.The critical minerals smelting and processing facility could produce 540,000 tons of materials in the U.S. per year, according to the U.S. Commerce Department. The deal comes as the U.S. seeks to form critical mineral partnerships that are not dependent on China.Reuters said that Korea Zinc will sell new shares…

WASHINGTON (AP) — President Donald Trump filed a lawsuit Monday seeking $10 billion in damages from the BBC, accusing the British broadcaster of defamation as well as deceptive and unfair trade practices.The 33-page lawsuit accuses the BBC of broadcasting a “false, defamatory, deceptive, disparaging, inflammatory, and malicious depiction of President Trump,” calling it “a brazen attempt to interfere in and influence” the 2024 U.S. presidential election.It accused the BBC of “splicing together two entirely separate parts of President Trump’s speech on January 6, 2021” in order to ”intentionally misrepresent the meaning of what President Trump said.”The BBC did not immediately…

DETROIT — Ford Motor expects to record about $19.5 billion in special items related to a restructuring of its business priorities and a pullback in its all-electric vehicle investments, the company announced Monday.The Detroit automaker said most of those charges will occur during the fourth quarter. That will be followed by $5.5 billion in cash to be charged through 2027, and the majority of that chunk will be paid next year, Ford said.The charges will impact the automaker’s net results but not its adjusted earnings. The automaker said Monday it was increasing its guidance of adjusted earnings before interest and…

President Donald Trump smiles from the field before the 126th America’s Game between the Army Black Knights and the Navy Midshipmen at M&T Bank Stadium in Baltimore, Dec. 13, 2025.Patrick Smith | Getty ImagesThe United States has collected more than $200 billion in tariffs this year as a result of new duties imposed by President Donald Trump since the beginning of 2025, the Customs and Border Protection agency said Monday.The tally comes as the Supreme Court considers arguments that the new tariffs are illegal. The $200 billion tally is only for the new tariffs, not for tariffs imposed during Trump’s…