Business News

'KPop Demon Hunters' and Conan Gray set new benchmarks on the charts

August 27, 2025

KPop Demon Hunters and Conan Gray are making a significant impact on the Billboard 200 albums chart. Conan Gray's new album, Wishbone, has reached No. 3, marking his highest placement yet, while KPop Demon Hunters achieved the notable feat of having four top 10 singles from a soundtrack simultaneously.

Key Facts:

Conan Gray's album Wishbone entered the Billboard 200 chart at No. 3.
Conan Gray is a former YouTube star who has become a well-known pop singer.
KPop Demon Hunters is a soundtrack that has four singles in the top 10 at the same time.
Morgan Wallen's album I'm the Problem is currently No. 1 on the Billboard 200 chart.
Billie Eilish's album climbed to No. 6 after releasing a special vinyl edition.
Taylor Swift's album re-entered the top 10, moving from No. 18 to No. 10.
KPop Demon Hunters might soon reach No. 1 due to a recent CD release and successful theatrical edition.

Source Information

NPR News

Trump not looking at taking stake in Nvidia, Bessent says

August 27, 2025

The Trump administration is not planning to invest in Nvidia but is looking to support other industrial companies. Treasury Secretary Scott Bessent mentioned that the focus is on industries where the U.S. wants to be self-sufficient.

Key Facts:

The Trump administration does not intend to invest in Nvidia.
The government is looking to invest in various industrial companies.
This approach follows similar actions taken with companies like Intel.
The intent is to establish U.S. self-sufficiency in critical industries.
Investors are uncertain about which companies and industries will be targeted for investment.
Industries such as shipbuilding are being considered for investment.

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Axios

Four ways to keep your energy bills down

August 27, 2025

Energy prices in the UK are set to rise again in October. The article provides tips for managing energy costs, such as switching to fixed rates, paying by direct debit, checking for financial support, and reviewing energy usage.

Key Facts:

Energy prices in the UK are increasing by about £35 a year for a typical household due to a rise in the price cap.
Ofgem suggests consumers consider switching to fixed rate plans, which could be cheaper than variable rates.
Switching to a fixed deal might save an average household £250 over the next year.
Direct debit payments could offer cost savings and are often required for fixed rate deals.
Customers on prepayment schemes pay 3% less than the capped variable rate.
Financial support is available for low-income households, including discounts on bills and grants.
It's important to review energy usage, especially with colder weather approaching, to manage bills effectively.

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BBC Business

Exclusive: Lower-income, Gen Z people are investing at record rates, data shows

August 27, 2025

New research from the JPMorganChase Institute shows that more young people and those with lower incomes are investing in the stock market. This trend coincides with fewer young people owning homes, indicating a potential shift in how younger generations plan to build wealth.

Key Facts:

Younger and lower-income individuals are investing in the stock market more than before.
As of early 2025, lower-income earners were five times more likely to invest compared to a decade ago.
About one-third of 25-year-olds have investment accounts, a significant increase since 2015.
There is a slight increase in the gap between men and women investing, seen around November 2024.
Personal savings remain low, even as investing rates rise.
The pandemic, accessible technology, and high asset prices have contributed to the rise in investing.
Younger and lower-income investors tend to respond quickly to market price changes.
Traditional advice encourages regular, steady investing rather than reacting to market trends.

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Axios

Take The Planet Money Summer School Quiz In Political Economy

August 27, 2025

NPR has created a quiz related to political economy as part of its Planet Money Summer School series. This quiz offers participants a chance to test their knowledge, though it does not provide an official academic credential.

Key Facts:

NPR's Planet Money Summer School released a quiz on political economy.
The quiz helps participants test their knowledge of tax rates and economic policies.
It is available through various platforms, including Apple Podcasts and Spotify.
Completing the quiz provides a fun, unofficial "diploma."
The political economy topic was covered in a 2025 edition of Planet Money Summer School.
The diploma offered is not recognized by academic or governmental bodies.

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NPR Home

Why investors are on tenterhooks for Nvidia’s latest earnings report

August 27, 2025

Nvidia is preparing to release its latest earnings report, which could affect the entire US stock market. The company, known for its powerful graphics processing units (GPUs) used in artificial intelligence (AI), is expected to show significant revenue growth. Concerns exist about possible overvaluation in the AI sector and the impact of past US-China trade tensions on Nvidia's sales.

Key Facts:

Nvidia's earnings report is expected to influence the US stock market.
Nvidia is the world's most valuable company, with a market value of over $4 trillion.
The company is known for its GPUs, which are critical for AI technologies.
Nvidia's chips are used by major tech companies like Microsoft, Meta, Amazon, and Alphabet.
The company saw a 69% revenue increase last quarter compared to the previous year.
Analysts predict Nvidia's upcoming revenue could reach up to $46 billion, a 53% year-on-year growth.
In April, a US ban on the sale of Nvidia's H20 chip to China was reversed after a deal to share sales with the US government.
There is concern that AI technology might be overhyped, drawing parallels to historical stock overvaluation scenarios.

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Al Jazeera

Sun into sundaes for solar-powered ice cream maker

August 27, 2025

Styles Ice Cream in Somerset, UK, is using solar panels to produce a significant portion of the energy needed for its operations. This move is helping the company reduce energy costs and increase sustainability. Founder David Baker is aiming to produce up to 80% of the energy needed from solar power.

Key Facts:

The company was founded by David Baker in 1988 on a farm in Exmoor.
Styles Ice Cream is using solar panels to produce 30% of the energy it needs.
Baker aims to increase solar energy usage to 80%.
Solar panels cost £22,000 to install so far.
The ice cream factory's electricity bill is currently £72,000 a year.
Solar power helps reduce the need for engine usage in ice cream vans, making them quieter and less polluting.
The company is taking advantage of a record sunny spring and a warm summer, which have provided ample sunlight.

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BBC Business

Covid loss businesses take action against insurer

August 27, 2025

Small business owners are suing the Beazley Group for not paying on business interruption insurance during lockdowns. The businesses believe their insurance should cover losses caused by the government's COVID-19 closures. Beazley argues that their policies do not cover national lockdowns.

Key Facts:

69 small business owners are suing the Beazley Group.
Serina Russel, who runs a tattoo business, and Lucy Foster, who owns a beauty clinic, are among those affected.
Both owners had insurance with Beazley and expected coverage for pandemic-related closures.
Beazley claims the policies do not cover nation-wide lockdowns.
Ms. Russel and Ms. Foster both took out bounce-back loans and are still repaying them.
Chris Guy, a solicitor, believes the insurance policies should cover pandemics.
Business owners have until March 2026 to file legal complaints.
The legal action arose because many businesses closed due to COVID-19 lockdowns in March 2020.

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BBC Business

US restaurant chain Cracker Barrel scraps new logo after backlash

August 27, 2025

Cracker Barrel, a U.S. restaurant chain, decided to keep its old logo after facing negative reactions to a new design. The company acknowledged customer feedback as a reason for reverting to the previous logo, which features traditional Southern imagery. Their shares dropped by about 7% after the rebranding announcement.

Key Facts:

Cracker Barrel is a U.S. restaurant chain known for Southern-style food.
The company originally planned to change its logo by removing the "Old Timer" image.
The new logo faced criticism for moving away from its traditional brand image.
President Donald Trump voiced support for the company returning to its old logo.
After listening to customer feedback, Cracker Barrel decided to keep the original logo.
Cracker Barrel has more than 600 locations across the U.S.
Shares of Cracker Barrel fell by about 7% following the logo change announcement.
The company emphasized its focus on traditional Southern hospitality in a public statement.

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BBC Business

Cracker Barrel returning to "Old Timer" logo after MAGA backlash

August 26, 2025

Cracker Barrel is changing back to its old logo after facing criticism from some customers, including supporters of former President Trump. The company's stock initially dropped but went up 7% after announcing the return to the original logo.

Key Facts:

Cracker Barrel decided to stop using its new logo and go back to the old one.
The decision followed negative feedback from customers, including MAGA supporters.
Former President Trump commented on the issue, urging the chain to revert to the original logo.
The restaurant chain made a public statement thanking customers for their feedback.
Cracker Barrel shares fell after the backlash started but rose 7% after the announcement.
The company is based in Lebanon, Tennessee.

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Axios

Energy prices expected to rise ahead of winter

August 26, 2025

Energy prices in the UK are expected to rise slightly this autumn and winter, as predicted by analysts ahead of Ofgem's announcement of the new energy price cap. The cap for October to December will impact gas and electricity prices for millions of households. Government support measures are in place to assist vulnerable households during this period of increased costs.

Key Facts:

Ofgem will announce the new energy price cap that sets the maximum cost per unit for gas and electricity in England, Scotland, and Wales.
Analysts expect a 1% annual increase in energy prices from October 2023.
The typical household energy bill is predicted to rise by £17 to £1,737 per year.
The price cap change takes effect at the start of October and lasts for three months.
Vulnerable households receiving benefits will automatically get a £150 Warm Home Discount.
All energy bill payers contribute to funding extra support measures for vulnerable households.
Energy price increases reflect wholesale market costs and added government support measures.
Some consumer groups suggest looking for fixed-price deals, while noting potential exit fees.

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BBC Business

In The Style founder has 'no regrets' about leaving

August 26, 2025

Adam Frisby, the founder of In The Style, started the online fashion brand with £1,000 in 2013 and grew it to a £100m valuation before it was eventually sold for £1.2m after financial troubles. Frisby left the company due to personal and professional struggles, including a legal battle and abuse from shareholders. Despite these challenges, he states he has no regrets about his decision to leave.

Key Facts:

Adam Frisby founded In The Style in 2013 with £1,000.
The company was listed on the London Stock Exchange in 2021 with a valuation of over £100m.
In The Style was delisted and sold for £1.2m, with the company recording a loss of £8.4m.
Frisby experienced personal attacks, including death threats and accusations of idea theft.
The company faced reduced interest after the COVID pandemic and rising costs due to the Ukraine conflict.
Frisby won a legal case against claims he stole the business idea.
In The Style was embroiled in a social media controversy with influencers claiming unpaid partnerships.
Frisby has announced his complete departure from In The Style and now expects a child with his partner through surrogacy.

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BBC Business

US consumer confidence tumbles as labour market slows

August 26, 2025

Americans feel less confident about the U.S. economy due to a slowing job market. The consumer confidence index dropped this month, and more people are worried about job availability and their future income.

Key Facts:

The consumer confidence index fell to 97.4 in August from 98.7 in July.
People are concerned about the availability of jobs; this sentiment has decreased for eight months.
U.S. employers added only 73,000 jobs in July, less than the 115,000 expected.
The unemployment rate increased slightly to 4.2% from 4.1%.
Job openings decreased from 7.7 million in May to 7.4 million in June.
References to high prices and inflation went up, often linked to tariffs.
There was a rise in the number of people expecting a recession in the next year.
More people plan to buy a car, but plans to buy appliances or go on vacation dropped.

Source Information

Al Jazeera

August consumer confidence dips with jobs and tariffs driving most unease

August 26, 2025

Consumer confidence in the U.S. fell slightly in August due to increasing worries about the job market and tariffs. The decline was anticipated by economists and was reflected in the Conference Board's report. Job growth was lower than expected, and concerns about a potential recession increased.

Key Facts:

U.S. consumer confidence index decreased by 1.3 points to 97.4 in August.
The index measuring expectations for income and jobs fell to 74.8.
U.S. employers added 73,000 jobs in July, below the expected 115,000.
Previous job figures for May and June were revised downward by 258,000 jobs.
The unemployment rate increased slightly to 4.2%.
There were 7.4 million job vacancies in June, a decrease from May's 7.7 million.
Concerns about inflation and tariffs are linked to increasing prices.
The percentage of consumers fearing a recession rose to its highest level since April.

Source Information

PBS NewsHour

Tariff exemption for small packages ends this week

August 26, 2025

The United States is ending a rule that allowed low-value imports to avoid tariffs, as part of efforts to rely less on foreign goods. Starting this week, packages worth $800 or less will face import taxes, impacting small businesses and online shoppers. This change is affecting international shipping, with several countries pausing shipments to the U.S.

Key Facts:

The U.S. will no longer allow low-value imports (under $800) to enter the country duty-free.
This change is part of a move to decrease dependency on foreign goods and adjust global trade.
Previously exempt small packages will now have to pay tariffs based on their origin country’s rate.
For the next six months, there is an option for a flat duty rate of $80 to $200 on these packages.
Many national postal services in various countries, including Japan and the U.K., are temporarily halting shipments to the U.S.
The "de minimis" exemption started in 1938 to avoid tariffs on imports valued at $1 or less.
Over the years, the limit increased to $800, and last year, 1.36 billion such packages entered the U.S.
The exemption is seen by some as a loophole exploited by foreign businesses and for illegal goods.

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PBS NewsHour

Energy price cap: How much gas and electricity does a typical household use?

August 26, 2025

The energy price cap in England, Wales, and Scotland limits the highest price suppliers can charge for each unit of energy. This cap affects around 21 million households and is reviewed every three months. Starting October 1, prices are expected to rise slightly from the previous drop in July.

Key Facts:

The energy price cap limits how much suppliers can charge for energy units, but actual bills depend on usage.
As of July, the annual bill for a typical household on a dual-fuel direct debit plan was £1,720.
From July to September 2025, gas is capped at 6.33p per kWh, and electricity at 25.73p per kWh.
Prepayment meter users paid slightly less than direct debit users, with an annual typical bill of £1,672.
The cap does not apply in Northern Ireland, which has its own energy market.
Taking a meter reading when the cap changes can help avoid charges based on incorrect estimates.
Fixed-price energy deals are not influenced by the cap but can have penalties for early withdrawal.
Standing charges are daily fees to maintain gas and electricity connections and slightly differ by region.

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BBC Business

Why job hopping might no longer pay

August 26, 2025

A new report shows that pay increases for people who switch jobs are now similar to those for employees who stay in the same job. This change is due to a slowing job market, which gives employers more control over salaries.

Key Facts:

People who change jobs now receive an average wage increase of 4.3%, similar to those who stay in their jobs.
Historically, job switchers received bigger pay raises than those who stayed put.
During the Great Resignation, job switchers saw large pay increases, sometimes over 20%.
Employers are hiring less due to a slower job market and effects related to tariffs.
The power to set salaries is shifting back to employers rather than employees seeking new positions.
Bank of America's internal data shows job movers received a median pay raise of 7%.

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Axios

Poundland says it could run out of money next week

August 26, 2025

Poundland, a budget retailer, may run out of money by the end of the week if a restructuring plan is not approved. The company is asking a High Court judge to approve a plan that would provide it with more cash to avoid going into administration. Poundland has about 800 stores and employs 14,700 people.

Key Facts:

Poundland has asked for a court-approved restructure to avoid running out of money by 7 September.
The company announced plans to close 68 stores, affecting around 1,000 jobs.
A cash injection of £60 million is part of the plan, in addition to £30 million already provided.
Poundland was sold for £1 to a private equity firm subsidiary, Peach Bidco.
The company reported a £35.7 million loss in the last financial year.
Poundland will stop selling products online, leading to 350 warehouse job losses.
The company's debt repayment of £276.5 million is due by 1 September but could be delayed by three years with the restructuring.
Many Poundland stores are unprofitable due to high rent costs.

Source Information

BBC Business

Fewer Music Shops on UK High Streets

August 26, 2025

The number of music shops in the UK is decreasing. More people are buying musical instruments online instead of visiting stores.

Key Facts:

UK high streets have fewer music shops now.
This decline means fewer places to try instruments in person.
Online sales of musical instruments are growing.
Less physical presence might affect aspiring musicians.
Shops closing could impact local economies where these stores are located.

Source Information

BBC Business

Wall Street steadies, global markets sink after Trump says he’s firing Federal Reserve governor

August 26, 2025

Wall Street calmed down after initial reactions to President Trump's announcement that he plans to fire Federal Reserve Governor Lisa Cook. This move by Trump is causing concern as it could affect the independent nature of the Federal Reserve and may lead to legal challenges. Global markets mostly fell after the announcement, with notable declines in Europe and Asia.

Key Facts:

President Trump announced plans to fire Federal Reserve Governor Lisa Cook.
Wall Street futures for major indices dropped slightly after the announcement.
Trump cited mortgage fraud allegations linked to a regulator he appointed as the reason.
Lisa Cook said she does not plan to resign from her position.
Trump's action could lead to legal proceedings and affect the Fed's independence.
Global markets, including those in Germany, France, and Japan, experienced declines.
Traders widely expect the Federal Reserve to cut its benchmark interest rate soon.
Boeing disclosed a substantial deal with Korean Air amid little change in its share price.

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PBS NewsHour

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