Target is cutting 1,800 corporate jobs to try to improve its business after four years of flat sales. The new CEO, Michael Fiddelke, aims to simplify decision-making and boost growth. The layoffs will not affect employees working in Target stores.
Key Facts
Target plans to cut 1,800 corporate jobs as part of a plan to improve its performance.
The layoffs represent about 8% of Target's global corporate workforce.
This is Target's first major round of layoffs in ten years.
Michael Fiddelke, who will soon become the CEO, is implementing these changes.
Target's sales have been weak, and its stock price has dropped 30% this year.
The job cuts will not impact store employees working at Target's 2,000 locations.
Factors like reduced consumer spending on non-essential items and backlash over diversity policies have added to Target's challenges.
The new CEO plans to use more technology and improve product quality to boost Target's business.
The federal government released new numbers for the Consumer Price Index (CPI) after a delay caused by a shutdown. These numbers are important because they help determine Social Security benefits for the next year.
Key Facts
The Consumer Price Index (CPI) numbers were delayed due to a government shutdown.
The CPI is a measure that tracks changes in the cost of goods and services.
Social Security uses the CPI to adjust benefits for inflation each year.
The recent release of CPI numbers will inform changes in Social Security payments for 2025.
The Social Security Administration relies on these figures to ensure benefits keep up with inflation.
A settlement requires TFG Holding, Inc., an online clothing retailer, to pay $1 million to customers. This is due to claims that the company's VIP Membership Program was marketed deceptively and membership cancellation was difficult. Customers who joined the program before May 31, 2016, may be eligible for payments.
Key Facts
TFG Holding, Inc. manages brands like JustFab, ShoeDazzle, and FabKids.
The company faced claims of misleading marketing for its VIP Membership Program.
The settlement amount is $1 million and involves multiple states.
Customers often struggled to cancel memberships due to complex policies.
The VIP Membership Program included a recurring charge of $49.95 unless waived.
Eligible customers enrolled before May 31, 2016, can receive payments.
Payments will be automatically processed unless specific exceptions apply.
The settlement was led by several states, including Pennsylvania and Texas.
A trade dispute between China and the Netherlands affects Bosch and other car part suppliers. Bosch might furlough workers at a German plant if the issue with the Dutch chipmaker Nexperia continues. This situation could worsen the challenges facing Europe's car industry.
Key Facts
Bosch may furlough employees at its Salzgitter plant in Germany due to chip supply issues.
The dispute is between China and the Netherlands over the Dutch chipmaker Nexperia.
China banned exports of Nexperia products after the Netherlands seized control of the company.
Nexperia's chips are essential for car parts, impacting the European car industry.
Bosch is searching for alternative suppliers to avoid production halts.
Volkswagen has secured its production for the near term but acknowledges potential short-term impacts.
BMW and Mercedes have also reported challenges with their supply networks.
Chip supplier alternatives include Infineon, NXP, and Texas Instruments, but switching takes time.
Political discussions are ongoing to find a solution to the dispute.
Henry Ford Health Hospital in Grand Blanc, Michigan, is in a dispute with 750 nurses on strike over working conditions. The hospital says the nurses are more focused on a broader union agenda rather than immediate healthcare needs. Negotiations between the hospital and the nurses' union have been ongoing, but no agreement has been reached.
Key Facts
750 nurses at Henry Ford Genesys Hospital are on strike.
The strike is focused on demands for better working conditions and safety.
The strike began on September 1, after most of the nurses rejected the hospital’s contract offer.
Henry Ford Health claims the nurses are pushing a union agenda.
The hospital has had nearly 60 negotiation sessions with the union since April.
Teamster General President Sean O’Brien joined the strike, supporting the nurses.
The union says the hospital has shown no interest in collaboration.
Henry Ford Health took over Genesys Hospital in October 2024.
Western Union reports a decline in its main business of money transfers within the U.S. This decrease has been noted since President Donald Trump took office.
Key Facts
Western Union specializes in money transfers.
The company says its U.S. money transfer business is down.
Migrant workers in the U.S. are a key group for Western Union's services.
Western Union's earnings call indicated reduced activity in money transfers.
The decline has been observed since President Donald Trump assumed office.
Travis Kelce, a well-known football player, has invested in Six Flags, a major amusement park company, along with two executives and an investment firm. This investment makes them among the largest shareholders of Six Flags, which has faced financial difficulties after a merger with Cedar Fair. Six Flags has struggled with debt and low attendance, and hopes Kelce's involvement will help improve its situation.
Key Facts
Travis Kelce invested in Six Flags and now owns about 9% of its shares.
JANA Partners, an investment firm, also took part in buying Six Flags' shares.
Six Flags merged with Cedar Fair in 2024, creating the biggest amusement park operator in North America.
Six Flags has been facing financial struggles with $5.3 billion in debt and lower attendance.
The company's CEO, Richard Zimmerman, plans to step down by the end of the year.
Six Flags reported a net loss of $100 million for the second quarter of 2025.
The company is closing Six Flags America in Maryland and may close another park in California in the future.
President Donald Trump has pardoned Changpeng Zhao, the founder of Binance, which is the world's largest cryptocurrency exchange. Zhao had previously been imprisoned for not stopping illegal activities such as money laundering on his platform. The pardon may allow Zhao to resume his business activities in the U.S.
Key Facts
President Trump pardoned Changpeng Zhao, founder of Binance.
Zhao was in prison for failing to prevent money laundering through his cryptocurrency platform.
He violated the US Bank Secrecy Act, which requires financial monitoring.
Trump’s pardon removes restrictions on Zhao’s business activities in the U.S.
Binance agreed to pay $4.3 billion to settle other charges by the U.S. Department of Justice.
Prosecutors say Binance facilitated illegal transactions totaling about $900 million.
Zhao originally served a four-month prison sentence and expressed regret for his actions.
He co-founded Binance in 2017 and has previously been a rival to FTX founder Sam Bankman-Fried.
Target is cutting about 1,800 corporate jobs to simplify decision-making and boost its customer base. The layoffs aim to address the company's challenges in competing with rivals like Walmart and Amazon. The job cuts will not affect store employees or supply chain workers.
Key Facts
Target will lay off around 1,000 corporate employees and eliminate 800 vacant jobs.
The cuts represent about 8% of Target's global corporate workforce.
Most affected employees work at Target’s Minneapolis headquarters.
Michael Fiddelke, Chief Operating Officer, will become CEO on February 1.
Target has faced competition from Walmart and Amazon, affecting its sales.
Fiddelke's priorities include improving merchandise selection and store cleanliness.
Employees losing their jobs will receive pay and benefits until January 3, along with severance packages.
President Donald Trump stopped trade talks with Canada, accusing an Ontario TV ad of misrepresenting former President Ronald Reagan's views on tariffs. Trump has imposed a 35% tariff on many Canadian imports, while goods under the US-Mexico-Canada Agreement remain mostly unaffected. Reagan also used tariffs during his presidency, including restrictions on Japanese cars and electronics, as negotiation tools in trade discussions.
Key Facts
President Trump halted trade negotiations with Canada due to a dispute over a TV advertisement.
A 35% tariff has been applied by Trump to many imports from Canada, except those covered by the US-Mexico-Canada Agreement.
Reagan's administration used targeted tariffs on items like motorcycles and steel in the 1980s.
Reagan imposed a 100% tariff on Japanese electronics in 1987.
Reagan's policies included voluntary export limits on Japanese cars and quotas on sugar imports.
The North American Free Trade Agreement (NAFTA) was influenced by frameworks initiated during Reagan's time.
President Trump has replaced NAFTA with the United States-Mexico-Canada Agreement (USMCA).
Tariffs have been a tool for negotiation, both for Reagan in the past and Trump in the current administration.
U.S. inflation increased to 3% in September, marking the first time it reached this level since January. This rise was slightly less than what analysts predicted and comes as the Federal Reserve considers its next steps on interest rates. The report is significant as it's the first major economic data released after a government shutdown.
Key Facts
U.S. inflation rose to 3% in September, up from 2.9% in August.
Analysts expected a 3.1% increase, so the actual figure was slightly lower.
This report is the first major economic data released since a government shutdown earlier this month.
The Federal Reserve is deciding whether to cut interest rates again soon.
From August to September, consumer prices increased by 0.3%.
Many businesses are not fully passing tariffs' costs to consumers, keeping price increases moderate.
Furniture prices went up by 3.8% over the past year, with a 0.9% increase from August to September.
Costs for beef and coffee have significantly increased, with beef up 14% and coffee almost 19% since September 2024.
Alaska Airlines had to stop its flights for several hours because of a problem with its computer systems. This caused 229 flights to be canceled and more disruptions are expected as the airline resolves the situation.
Key Facts
Alaska Airlines grounded its planes due to a problem with its information technology systems.
The issue led to the cancellation of 229 flights.
More flight disruptions are anticipated as the airline tries to fix the situation.
Affected travelers are urged to check flight status updates.
The problem impacted both Alaska Air and its sister airline, Horizon Air.
Hawaiian Airlines, owned by Alaska Air Group, did not have flight issues from the outage.
Alaska Airlines experienced a similar disruption in July due to a data center problem.
Computer issues have occasionally disrupted airlines in the past.
Turkey prices in the U.S. are rising due to bird flu outbreaks that have reduced supply, potentially making Thanksgiving meals more expensive. The wholesale price for turkeys has jumped 40% compared to last year. Some retailers offer meal bundles to help consumers save money.
Key Facts
Bird flu outbreaks have reduced the turkey supply in the U.S.
The U.S. Department of Agriculture (USDA) predicts wholesale turkey prices to be about 40% higher in 2025 than last year.
In 2025, turkey farmers raised 195 million birds, down from 200 million in 2024.
Around 245 million turkeys were raised in 2016.
Recent bird flu outbreaks in North and South Dakota have worsened supply issues.
Although inflation rates are lower, many Americans are still concerned about rising costs.
Retailers like Walmart and Aldi offer meal bundles to help consumers save on holiday costs.
Workers at Leonardo, a major defense company that makes helicopters and other equipment, plan to go on strike in November. The strike involves 3,000 union members at five UK sites, as they seek a better pay offer after rejecting a 3.2% rise proposed by the company. Leonardo's UK locations set for strikes include Yeovil, Luton, and Edinburgh.
Key Facts
Leonardo is a big defense company that makes helicopters and more.
Workers at Leonardo are planning to strike in November.
Around 3,000 union members will be involved in the strikes.
The union wants a better pay offer than the 3.2% increase suggested by Leonardo.
The strike will happen at five sites, including Yeovil, Luton, and Edinburgh.
Leonardo's UK helicopter factory is the only one in the country.
President Donald Trump has announced that he will stop all trade talks with Canada. This decision follows an advertisement by Canada's Ontario province featuring a speech by former President Ronald Reagan on tariffs. The ad uses parts of Reagan's 1987 address on trade but rearranges his comments.
Key Facts
President Donald Trump has halted trade negotiations with Canada.
The ad is from Ontario, Canada, and uses excerpts from Ronald Reagan's 1987 radio address.
The ad discusses tariffs and their negative impact on Americans.
Trump has labeled the ad as "FAKE."
The Ronald Reagan Foundation stated that the ad misrepresents Reagan's original speech.
Reagan's original speech spoke against high tariffs and supported free trade.
The ad rearranges Reagan's words but does not change them.
Trump opposes the ad's anti-tariff message, influencing his decision on trade talks.
Pomona Valley Hospital Medical Center agreed to pay $600,000 to settle a lawsuit about unauthorized tracking on its website using Facebook Pixel technology. California residents who used the hospital's website and logged into their patient portal between January 1, 2019, and December 31, 2022, may receive part of the settlement. Those involved do not need to apply as they will automatically receive payments after the court gives final approval.
Key Facts
Pomona Valley Hospital settled a $600,000 lawsuit over the use of Facebook Pixel on its website.
The lawsuit accused the hospital of violating wiretapping laws by using tracking technology.
A Facebook Pixel is a tool that tracks user actions on a website.
The hospital denies any wrongdoing and claims it followed its privacy policy.
California residents affected by the tracking are eligible for settlement funds if they used the hospital's website during the specified period.
The settlement will cover attorney fees, class representative awards, and administration costs.
People do not need to apply for payments; they will be identified from the hospital's records and will automatically receive their share.
Objections to the settlement must be submitted by December 9, 2025, with a final hearing scheduled for January 26, 2026.
A bar in Boston called Savin Bar + Kitchen is causing a stir because it features large photos of notorious mobsters like James "Whitey" Bulger as decorations. Some local residents are upset, saying the images make the criminals seem appealing and remind them of painful history. The bar's owners say the photos are not meant to praise the mobsters but to show a part of the neighborhood's past.
Key Facts
Savin Bar + Kitchen is located in Boston's Dorchester neighborhood.
The bar's décor includes large mugshots of mobsters like James "Whitey" Bulger.
Some locals are upset, believing the images glorify criminals.
Eddie Connors, a previous bar owner, was killed by the mobsters, upsetting his family.
The photos have led to online complaints and heated discussions.
Bar co-owner Kenneth Osherow says the décor is meant to reflect history, not glorify it.
A show called "Secret Service," starring Gordon Ramsay, chose and installed the décor.
The bar owners are considering changing the décor due to neighborhood complaints.
Waitrose initially decided not to hire Tom Boyd, an autistic man who volunteered at their store for four years. After public attention and an offer from rival supermarket Asda, Waitrose reversed its decision and offered him a paid position. The family is considering the offer while discussing options with both companies.
Key Facts
Tom Boyd volunteered at Waitrose for four years without pay.
Waitrose initially decided not to offer Tom a paid job despite his volunteering.
After the decision, Asda offered Tom a paid position at its store.
Waitrose later reversed its decision and offered Tom a paid job.
Waitrose expressed a commitment to help people with disabilities gain employment.
Tom's work ethic was praised by managers at Waitrose.
Greater Manchester mayor Andy Burnham supported Tom and encouraged employers to follow inclusive practices.
The family is evaluating which job offer is best for Tom.
Young people, specifically those from Gen Z and millennial generations, are increasing their activity in sports betting, though future growth may slow down. According to a report by TransUnion, economic factors like debt and economic uncertainty could impact this trend. The report emphasizes the need for responsible gambling practices.
Key Facts
Gen Z and millennials are the main group increasing sports betting.
TransUnion reports betting activities rose from 25% to 30% from Q2 2024 to Q2 2025.
Traditional casinos are still most popular, but online sports betting is growing fast.
Online sportsbook activity increased by 7% year-over-year for these younger groups.
Physical sportsbook betting fell 1% for Gen Z but rose 11% for millennials.
Economic issues like student loans and low income could slow betting growth.
Monthly debt payments for these groups have increased significantly, surpassing inflation and wage growth.
TransUnion highlights the importance of responsible gambling due to financial vulnerability among young bettors.
Seniors receiving Social Security benefits will get a 2.8% increase in their payments in 2026 due to a cost-of-living adjustment. This adjustment is intended to help offset inflation, but higher Medicare costs will reduce the net benefit increase many seniors see.
Key Facts
Social Security benefits will increase by 2.8% in 2026.
Around 75 million Americans depend on these benefits monthly.
The increase is based on inflation data from the Bureau of Labor Statistics.
The average retiree will receive about $56 more each month.
Medicare Part B premiums are also rising, leaving seniors with a smaller net increase.
Since 2010, seniors have lost about 20% of their purchasing power due to inflation outpacing COLA adjustments.
The COLA adjustment will appear in January Social Security checks.
