A store called Yellow by Keep It Local in Telford Shopping Centre has closed due to low sales. This closure affects small businesses that sold items in the store and resulted in job losses. The store was one of several operated by the business, which will now focus on its other locations.
Key Facts
Yellow by Keep It Local closed its store in Telford Shopping Centre because of low sales.
The closure led to job losses for three employees.
Forty-eight small business suppliers lost a place to sell their products.
The store in Telford opened in September and closed a few months later.
The business still has stores in Stoke-on-Trent and Warrington, which are performing well.
Increased costs, such as higher minimum wage and insurance, impacted the store's ability to stay open.
Most of the Telford store's suppliers were local to the Midlands area.
Sting has paid more than £500,000 to his former bandmates from The Police in a royalties dispute. Andy Summers and Stewart Copeland claim they are owed more money from streaming sales, while Sting argues against this. The disagreement revolves around how royalties should be divided for song contributions and new music sales formats like streaming.
Key Facts
Sting paid over $800,000 (about £647,000) to his former bandmates in royalties.
Andy Summers and Stewart Copeland are disputing additional payments they claim are owed.
The disagreement is about royalties for The Police's songs, including "Roxanne" and "Every Breath You Take."
Summers and Copeland argue for royalty payments on streaming and downloads, saying agreements covered these too.
Sting claims past agreements only apply to physical record sales, not digital formats.
A court hearing started to address the dispute and whether more arguments can be added.
The Police originally formed in 1977 and became a successful band with several hits.
They last reunited in 2008 for a world tour before splitting up again.
TGI Fridays has closed 16 of its restaurants in the UK, resulting in 456 job losses. The remaining 33 restaurants will continue to operate after the business was sold to a company owned by Sugarloaf. This development is part of a larger plan to stabilize the brand's presence in the UK.
Key Facts
TGI Fridays closed 16 UK restaurants, leading to 456 employees losing their jobs.
The business was managed by Liberty Bar and Restaurant group, which went into administration.
The brand's business and assets were sold to a company owned by Sugarloaf, the global brand manager.
The sale helped protect 1,384 jobs within the company.
TGI Fridays' Global President, Phil Broad, stated that the sale provides a strong platform for the brand's success and growth.
Difficult trading conditions have affected many hospitality businesses in the UK.
The closures and changes are a part of a broader turnaround plan for TGI Fridays in the UK.
Other hospitality businesses, like Leon and Pizza Hut, have also faced closures due to challenging market conditions.
Confidence in the U.S. job market has dropped significantly as Americans head into 2026. Many workers expect the job market to worsen or remain the same, and there's a growing concern about layoffs and stagnant wages.
Key Facts
A Monster.com survey found that 40% of U.S. workers expect the job market to get worse in 2026, and another 40% expect no improvements.
In a previous survey last January, 46% of workers thought the job market would improve in 2025.
The U.S. unemployment rate has risen to 4.4% from 4.0% in January when President Trump returned to office.
Only 43% of workers plan to search for new jobs in 2026, down from 93% in 2025.
52% of surveyed workers believe job cuts will increase in 2026.
In December, U.S. employers announced over 35,000 job cuts, an 8% increase compared to the previous year.
58% of workers are worried their salaries won't keep up with inflation, which is currently at 2.7%.
Saks Global, a luxury retail company, has filed for bankruptcy and plans to keep its stores open by securing over $1.7 billion in financing. The company may scale down its store count as it tries to recover, having already struggled with declining sales and debts from its acquisition of Neiman Marcus.
Key Facts
Saks Global filed for Chapter 11 bankruptcy to restructure its finances.
The company obtained a $1.7 billion financing commitment to keep stores open.
Saks may reduce the number of stores as part of the restructuring.
As of the filing, Saks employs about 16,830 people, mostly full-time.
Saks has 70 full-line luxury stores, with a total of 180 including discount outlets.
Saks' bankruptcy is notable as the first major retail bankruptcy of 2026.
The company has faced declining sales and debts from acquiring Neiman Marcus in 2024.
There are concerns about potential store closures in locations such as Las Vegas and Orlando.
The UK Chancellor, Rachel Reeves, expressed concern about increasing business rates for pubs and announced upcoming support to mitigate their impact. While the aid targets pubs specifically, other hospitality businesses want similar assistance as they face rising rates with the end of COVID-19 relief. The government plans changes to ease rate increases for pubs but is not extending equivalent support to all sectors.
Key Facts
The Chancellor is focused on helping pubs with rising business rates.
Pubs have been significantly affected by rate revaluations, with average increases of 32%.
Current COVID-19 rate relief will end in April, leading to higher tax obligations for businesses.
The government has a £4.3 billion fund to help businesses as relief phases out.
Other hospitality sectors, like cafes and hotels, are also struggling but may not receive the same support as pubs.
Business rates are calculated based on the property's rateable value, which is reassessed every five years.
Significant rate increases are expected across various businesses, with hotels facing potential rises as high as 115%.
The FDA has issued a level II recall for Nutty Peanut Butter Flake Candy from Oregon-based manufacturer Tom Bumble. The candy, which may contain foreign materials like plastic, was recalled nationally and could cause temporary health issues if consumed.
Key Facts
Tom Bumble recalled about 6,500 units of Nutty Peanut Butter Flake Candy nationwide.
The recall is due to the candy containing unknown foreign material, possibly small plastic pieces.
The affected candy comes in three sizes: 1.2 oz, 2.2 oz, and 4.5 oz, with UPC numbers provided for each.
All recalled products have a best-by date between May 21, 2026, and June 9, 2026.
The FDA assigned a level II risk classification to the recall, indicating potential for temporary or reversible health effects.
There is no official consumer guidance from the FDA or Tom Bumble, but typically affected products should be discarded or returned for a refund.
Tom Bumble has informed retailers and consumers about the recall via email.
The article introduces a selection of new products featured in Newsweek's New & Noteworthy series, a weekly editorial that highlights innovative consumer goods across various categories, including food, beauty, and home care. This edition features products like a new soda, protein bars, and a cordless vacuum, each with distinct features and benefits.
Key Facts
Newsweek's New & Noteworthy series highlights new consumer products weekly.
Olipop introduced a Shirley Temple soda with prebiotics and botanicals.
Mid-Day Squares launched a no-bread peanut butter and jelly snack bar.
Olay Regenerist offers a daily moisturizer with niacinamide and collagen peptides.
Bosch Unlimited 10 is a cordless vacuum with advanced cleaning technology.
Accelerator released a zero-sugar energy drink called Citrus Freeze.
Ryze Vanilla Latte made with mushroom blend is debuting in retail stores.
McDonald's has announced that the Big Arch burger will become a permanent menu item at their restaurants in the U.K. and Ireland. The burger, which features two patties and special ingredients, has not yet been made available in the U.S. except for a test run last year in Chicago.
Key Facts
McDonald's is adding the Big Arch burger permanently to menus in the U.K. and Ireland.
The Big Arch features two beef patties, cheese, crispy onions, fresh onions, shredded lettuce, pickles, and a special sauce.
It is served in a bun topped with poppy and sesame seeds.
The burger's popularity in Germany, Portugal, and Canada influenced its permanent addition in the U.K. and Ireland.
McDonald's U.K. credited customer enthusiasm for the burger's return.
In the U.S., the Big Arch was tested at a Chicago location last year but has not been officially launched nationwide.
The burger is priced at £8.79 or £10.69, depending on the location.
McDonald's plans to introduce a limited-time "secret menu" in the U.K. and Ireland featuring other unique items.
Wall Street investors remain optimistic about artificial intelligence (AI) as long as it continues to bring financial returns. Alphabet's recent partnerships have boosted its market value significantly, showing promising uses of AI. However, while AI brings new opportunities, there are concerns about its effects, such as job losses.
Key Facts
Wall Street is optimistic about AI-driven financial returns in 2026.
Alphabet's market value reached $4 trillion after announcing new partnerships.
Apple and Walmart are using Alphabet's AI for different projects.
Concerns exist about an AI investment bubble and policy impacts from Washington.
Investors reward companies demonstrating effective AI use with financial returns.
There are questions about AI's impact on jobs, potentially reducing workforce needs.
Wall Street is cautious but still investing in AI despite potential risks.
China's trade surplus reached nearly $1.2 trillion in 2025, setting a new record despite ongoing tariff disputes with the United States. The increase in Chinese exports, which rose by 5.5%, was supported by trade with various countries worldwide, even as trade with the US declined. Strong demand for computer chips and related products contributed to this export growth.
Key Facts
China's trade surplus hit nearly $1.2 trillion in 2025.
Chinese exports increased by 5.5% to $3.77 trillion.
Trade with the US decreased, but trade with other global regions increased.
Imports remained stable at $2.58 trillion.
Trade with Russia declined due to decreased demand for Chinese cars and a drop in the value of crude oil imports.
Strong global demand for computer chips and materials boosted exports.
China's trade surplus first exceeded the $1 trillion mark in November 2025.
China aims for economic growth of around 5% due to the trade surplus and expects exports to drive growth in 2026.
China reported a record trade surplus in 2025, reaching $1.19 trillion despite tariffs imposed by President Trump. Chinese exports to regions outside the US, like South East Asia, Africa, and Latin America, increased significantly, compensating for reduced US trade.
Key Facts
China’s trade surplus for 2025 was $1.19 trillion, the largest ever recorded globally.
This was the first time China's full-year trade surplus exceeded $1 trillion.
The surplus continued to grow despite US tariffs, with exports to other regions increasing.
Monthly export surpluses surpassed $100 billion seven times in 2025.
Exports in areas like green technology, AI products, and robotics increased.
A weak domestic economy reduced China's need for imports, which grew by only 0.5%.
A weaker Chinese yuan and inflation in Western countries made Chinese goods more appealing.
China faces challenges with low-priced products affecting other markets and continued tensions from US tariffs.
Saks Global, which owns Saks Fifth Avenue, has filed for bankruptcy protection in Texas. The company faced financial challenges due to debt from acquiring Neiman Marcus and changing shopping habits, but stores will keep running thanks to new financing.
Key Facts
Saks Global filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas.
The company cited debt from buying Neiman Marcus in 2024 and slow sales as reasons for the bankruptcy.
Saks Global got a $1.8 billion financing package to continue operations.
Stores will remain open despite the bankruptcy process.
Geoffroy Van Raemdonck is the new CEO, replacing Richard Baker.
The change in leadership is aimed at strengthening the company.
Diva Fam Inc. is recalling its Sea Moss Gel Superfood products because of missing regulatory approval and temperature monitoring records. The recall affects all flavors and batches made before January 9, 2026, and the products were sold across the United States. There have been no reports of health problems related to this recall.
Key Facts
Diva Fam Inc. is voluntarily recalling Sea Moss Gel Superfood products.
The recall is due to missing regulatory authorization and temperature records.
All flavors and sizes of the product in 16-ounce jars are affected.
The issue was found during a California health inspection.
No illnesses have been reported related to the recalled products.
Consumers should stop using the product and follow return instructions from retailers.
The FDA is involved to ensure the recall is handled properly.
Customers can contact the company via phone or email for more information.
President Donald Trump stated that the United States-Mexico-Canada Agreement (USMCA) is not significant for the U.S., although Canada benefits from it. He emphasized the need for American manufacturing companies to return production to the U.S. Automakers like Ford, General Motors, and Stellantis rely heavily on supply chains in Mexico and Canada and have expressed the importance of the USMCA.
Key Facts
President Trump said the USMCA is "irrelevant" for the U.S. but beneficial to Canada.
He encouraged U.S. manufacturing companies to bring production back to America.
Detroit automakers, such as Ford, General Motors, and Stellantis, rely on parts from Mexico and Canada.
Major car manufacturers called on the Trump administration to extend the USMCA, citing its importance for U.S. auto production.
The American Automotive Policy Council supports the USMCA for its regional integration benefits, which save billions of dollars annually.
Mark Reuss, president of General Motors, highlighted the complexity and benefits of North American supply chains.
The USMCA is due for a review on whether it should continue or expire.
Recent stock changes saw Ford and Stellantis shares fall, while General Motors shares rose slightly.
Inflation in December remained mostly stable with prices rising 2.7% compared to the previous year. Bill and Hillary Clinton declined to testify in a congressional investigation related to Jeffrey Epstein. In Gaza, strong winds caused walls to fall and makeshift shelters to be destroyed, resulting in four deaths.
Key Facts
Inflation rose by 2.7% in December compared to the same time last year.
Bill and Hillary Clinton are not testifying in a congressional investigation about Jeffrey Epstein.
Gaza experienced strong winds that caused damage and led to fatalities.
At least four people died in Gaza due to the wind-related incidents.
The damaged shelters in Gaza were makeshift, likely providing less protection against severe weather.
Wall Street executives have warned President Donald Trump about his recent proposals affecting the Federal Reserve and credit card industry. They believe these actions could harm the economy, even though they have generally supported his administration's policies in the past.
Key Facts
President Trump has signed a bill that reduced the budget of the Consumer Financial Protection Bureau.
The administration has been promoting policies to reduce regulations, which banks like.
Trump proposed a 10% cap on the interest rate for credit cards for one year.
Credit card interest rates are a significant source of profit for banks.
The Department of Justice is investigating Federal Reserve Chair Jerome Powell.
Bank CEOs are concerned about political influence on the Federal Reserve's decisions.
Executives have expressed concern that Trump's actions could negatively impact the U.S. economy.
Kaiser Permanente agreed to pay $46 million to settle a lawsuit claiming it improperly shared patient data through its website and app. The settlement involves current and former members in several states who accessed Kaiser’s digital services between November 2017 and May 2024. Eligible individuals may receive a one-time cash payment.
Key Facts
Kaiser Permanente will pay $46 million to settle the data privacy lawsuit.
The lawsuit accused Kaiser of sharing patient data with companies like Google and Microsoft.
Settlement applies to about 13 million members in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and D.C.
Eligible members must have accessed Kaiser websites or apps between November 2017 and May 2024.
Claims need to be submitted by March 12, 2024, to receive a payment.
Payments are expected to range from $20 to $40 for approved claims.
The final court hearing for the case is scheduled for May 7, 2024.
Kaiser removed certain online technologies from its services in 2024 as a precaution.
Federal Reserve Chair Jerome Powell has responded to possible criminal investigations regarding the Fed's building renovation by speaking out firmly. This has led to some Trump administration and Congressional allies stepping back from supporting such charges against him. Powell has strong support in Congress, which has helped him counter these legal challenges.
Key Facts
Jerome Powell, the Federal Reserve Chair, addressed potential criminal charges linked to a Fed building renovation.
Allies of President Trump and some Congressional Republicans are distancing themselves from pursuing Powell with criminal charges.
Powell has built strong relationships in Congress, receiving bipartisan support.
The Treasury Secretary and U.S. Attorney involved in the probe did not coordinate in advance.
Public comments from key figures suggest skepticism about the wisdom of prosecuting Powell.
Some lawmakers expressed doubts about whether Powell should face criminal charges, seeing it instead as an issue for Congressional review.
The investigation in question relates to whether Powell misled a Senate committee about renovation costs.
Powell's response strategy contrasts with past cases, where the Fed maintained a lower profile in political controversies.
The article discusses concerns over Netflix's potential acquisition of HBO Max and the growing power of large media companies. It highlights how a few big firms control much of the media Americans consume, reducing competition and limiting diversity of content. Lawmakers are urged to closely monitor such mergers to protect consumer choice and ensure a healthy media landscape.
Key Facts
Netflix plans to buy HBO Max, raising concerns about reduced competition.
Few large companies control most of what Americans watch on TV and streaming platforms.
Critics say too much media ownership by big firms limits content diversity and innovation.
Streaming services not only distribute content but also control what viewers can easily find and watch.
The House Judiciary Committee held a hearing to discuss these media power issues and may hold more.
Antitrust laws can help regulate mergers and ensure fair competition in the media market.
The Philadelphia National Bank standard considers a company with 30% market control as problematic.
Mergers should be evaluated based on market structure, competition impact, and distribution control.
