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Business News

Business news, market updates, and economic developments

Settlement Payments in $95 Million Apple Lawsuit Begin: What To Know

Settlement Payments in $95 Million Apple Lawsuit Begin: What To Know

Summary

Apple has agreed to a $95 million settlement after a lawsuit claimed its Siri voice assistant recorded users without their consent. Users are now receiving their settlement payments.

Key Facts

  • Apple settled a lawsuit for $95 million.
  • The lawsuit claimed Apple's Siri was recording user conversations.
  • It was also alleged that these conversations were shared with third parties.
  • The settlement is part of a class-action lawsuit.
  • Users involved in the lawsuit are now getting payments from the settlement.

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Labour MPs call for halt to business rate rise for music venues

Labour MPs call for halt to business rate rise for music venues

Summary

Nearly 50 Labour MPs have written to Chancellor Rachel Reeves to ask for the planned rise in business rates for music venues to be stopped. The MPs argue that the proposed rate increase could significantly raise costs for these venues, putting them at risk. The concern comes as the government plans to reduce business rate discounts and potentially exclude music venues from a support package for the hospitality industry.

Key Facts

  • Labour MPs wrote to Chancellor Rachel Reeves about business rates for music venues.
  • The rate increase could raise music venue bills by 45% to 275%.
  • Music venues are considered at risk due to higher costs.
  • The government plans to reduce business rate discounts from April.
  • MPs are worried the hospitality sector might not get enough support.
  • The letter pressing for action was coordinated by MP Anneliese Midgeley.
  • MPs seek to stop the April increase until a better valuation method is found.
  • The Treasury has not yet commented on the matter.

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Cadillac Reveals Exclusive New CT5-V Blackwing Package at Crazy Price

Cadillac Reveals Exclusive New CT5-V Blackwing Package at Crazy Price

Summary

Cadillac has introduced a new Deep Ocean Package for its high-performance CT5-V Blackwing sedan, costing an extra $26,995 on top of the car's initial price of $158,000. This package focuses on style changes, adding features like carbon fiber interior, special blue details, and exclusive paint, rather than performance upgrades. Only 200 units will be produced, with production starting in March.

Key Facts

  • The Deep Ocean Package adds $26,995 to the CT5-V Blackwing's price.
  • The car's power remains the same with a 6.2-liter V8 engine.
  • The package includes aesthetic changes like carbon fiber and black/blue accent details.
  • Seats are upgraded to high-performance bucket seats in semi-aniline leather.
  • The car features Santorini Blue seat belts and blue brake calipers.
  • Only 200 cars will be produced, starting in March at the GM Lansing Grand River Assembly Plant.
  • The car gets a Deep Ocean blue paint and black detailing like mirror caps and lug nuts.

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Shake Shack Announces New Shake

Shake Shack Announces New Shake

Summary

Shake Shack has introduced a new limited-time shake called the "True Love Shake" for Valentine's Day. The company is offering deals on this shake with a 50% discount on February 10 and a buy-one-get-one-free offer from February 10 to 14 at participating locations in the U.S.

Key Facts

  • The "True Love Shake" is made with vanilla frozen custard, strawberry purée, and a dark chocolate shell.
  • It is topped with chocolate-flavored whipped cream and strawberry curls.
  • The shake is available at participating U.S. Shake Shack locations, excluding airports, stadiums, arenas, travel plazas, and museums.
  • On February 10, customers can use the code SELFLOVE to get 50% off the shake.
  • From February 10 to 14, using the code SHARELOVE allows customers to get a buy-one-get-one-free deal on the shake.
  • The offers are only valid for orders placed via in-Shack kiosks, the Shake Shack app, or the website.
  • The promotional codes are case-sensitive and can't be used with other offers.
  • This is Shake Shack’s second "crackable" shake, following the Peppermint Bark Chocolate Shake from last year's holiday lineup.

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Phone Users Can Claim Cash In $10.5m Texting Settlement: No Proof Needed

Phone Users Can Claim Cash In $10.5m Texting Settlement: No Proof Needed

Summary

Kaiser Foundation Health Plan Inc. has agreed to a $10.5 million settlement over claims it sent marketing text messages to people who had opted out. People who received these texts can claim money without needing to show proof, by filling out a claim form that matches Kaiser’s records.

Key Facts

  • Kaiser agreed to a $10.5 million settlement for sending texts after opt-out requests.
  • The settlement applies to texts sent from January 21, 2021, to August 20, 2025.
  • People can claim up to $75 per text they received without having to show proof.
  • Claims are based on records from Kaiser, and require only a completed claim form.
  • The settlement includes administrative costs, attorneys' fees, and possibly a service award.
  • There are two groups covered in the settlement: one for national consumers and another for Florida consumers.
  • Kaiser denies any wrongdoing but agreed to settle to resolve the claims.

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Bari Weiss adds new podcasters and writers as CBS contributors

Bari Weiss adds new podcasters and writers as CBS contributors

Summary

CBS News, led by editor-in-chief Bari Weiss, is adding new contributors, mainly podcasters and independent writers, to broaden its reach. These contributors are part of an effort to introduce new journalistic principles within the network. The changes aim to bring fresh and independent voices to CBS News while making it more culturally relevant.

Key Facts

  • Bari Weiss is the editor-in-chief of CBS News.
  • CBS appointed Weiss after buying her news startup, The Free Press.
  • New contributors include podcasters, writers, and some existing Free Press contributors.
  • Notable new contributors are Andrew Huberman, Peter Attia, and Niall Ferguson.
  • Weiss's goal is to align CBS News with new journalistic principles.
  • Some CBS staff members are concerned about changes affecting editorial independence.
  • Changes include delaying a "60 Minutes" episode.
  • Weiss will discuss her strategy with CBS staff in a town hall meeting.

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The gold rally is the new bet against Trump

The gold rally is the new bet against Trump

Summary

Investors are increasingly buying gold as they lose confidence in traditional safe investments like the U.S. dollar and Treasuries. This shift is driven by uncertainty related to policies from President Donald Trump's administration, leading to a rise in gold prices.

Key Facts

  • Gold prices have risen over 17% this year.
  • Investors view gold as insurance against unpredictable U.S. policy.
  • Central banks now hold more gold than U.S. Treasuries, the first time in 30 years.
  • Many countries seek alternatives to the U.S. dollar and Treasuries for their reserves.
  • The demand for metals like gold and silver is increasing due to factors beyond U.S. policy.
  • One risk to continued gold investment is a drop in general global risks.
  • Analysts believe gold isn't overpriced because its value depends on buyer willingness.
  • The future of gold’s rally depends on ongoing U.S. policy uncertainty.

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Krispy Kreme Updates Menu

Krispy Kreme Updates Menu

Summary

Krispy Kreme is bringing back its "Chocomania" collection, which includes four new doughnuts glazed in Hershey's chocolate. These new doughnuts will be available at participating U.S. stores from January 27 to February 1, 2026.

Key Facts

  • Krispy Kreme is introducing four new doughnuts under its "Chocomania" collection.
  • All four doughnuts feature Hershey's chocolate glaze for the first time.
  • The new doughnuts include variations like Chocolate Cheesecake and Chocolate Chip Cookie.
  • The "Chocomania" collection is available from January 27 to February 1, 2026.
  • Customers can purchase the doughnuts in-store or order online for pickup or delivery in the U.S.
  • Krispy Kreme partners with Hershey's to create these chocolate-inspired doughnuts.

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India, EU agree on ‘mother of all’ trade deals

India, EU agree on ‘mother of all’ trade deals

Summary

India and the European Union have agreed on a major trade deal to create a large free trade zone, encompassing about two billion people. This deal is expected to boost trade significantly between the two regions, particularly benefiting sectors like textiles, gems, and leather goods in India. The agreement will lead to reduced tariffs on many EU exports to India, and is set to be implemented within a year following legal procedures.

Key Facts

  • India and the European Union have reached a deal to form a huge free trade zone covering two billion people.
  • The agreement was announced by European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi.
  • The deal covers around 25% of the global gross domestic product (GDP).
  • EU exports to India are expected to double by 2032 because of the agreement.
  • Tariffs on 96.6% of EU goods exported to India will be eliminated or reduced.
  • The agreement will reduce costs for EU products by up to 4 billion euros annually in duties.
  • The deal is expected to be formalized after legal procedures, taking five to six months, and implemented within a year.
  • Talks on the deal had started in 2007 but gained momentum after the geopolitical changes following Russia's actions in Ukraine.

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Domino's Launches Limited-Time Carryout Deal

Domino's Launches Limited-Time Carryout Deal

Summary

Domino's Pizza has announced a special deal for the Super Bowl, offering any large pizza with two toppings for $6.99 for carryout orders. This promotion runs from January 26 to February 1, 2026, as Domino's prepares for a busy day with increased pizza orders on Super Bowl Sunday.

Key Facts

  • The Domino's deal offers large, two-topping pizzas for $6.99 each.
  • The offer is available from January 26 to February 1, 2026.
  • The promotion is for carryout orders only.
  • Customers can choose from several crust options, including Hand Tossed, Crunchy Thin, and New York Style.
  • Last year, Domino's sold about 2.4 million pizzas on Super Bowl Sunday.
  • The company can sell up to 40 percent more pizzas on Super Bowl Sunday compared to a regular Sunday.
  • There is an option to upgrade to Parmesan Stuffed Crust for an additional $3 or to a specialty pizza for an extra $4.
  • Domino's describes the Super Bowl Sunday as one of its top five busiest sales days in the U.S.

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CMS Proposes 2027 Changes to Medicare Policies

CMS Proposes 2027 Changes to Medicare Policies

Summary

The Centers for Medicare & Medicaid Services (CMS) has proposed updates to Medicare Advantage and Part D policies for 2027. The changes include adjustments to how payments are calculated, updates to risk adjustment systems, and modifications to the star ratings system used to evaluate plans.

Key Facts

  • CMS proposed a 0.09% average increase in Medicare Advantage payments for 2027, totaling over $700 million, considering changes in how patients are coded.
  • The current risk-adjustment system will use newer health and cost data to better align payments with actual health risks.
  • Diagnoses from paperwork not tied to real doctor visits will no longer be counted for payment calculations starting in 2027.
  • Updates to the star ratings system include clarifying rules and specifying which performance measures count towards scores.
  • The proposal aims to ensure affordable and reliable benefits for beneficiaries while reducing reliance on non-clinical coding practices.
  • Stakeholders can submit comments on the proposed changes until February 25, 2026, with final announcements set for April 6, 2026.

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US dollar: ‘Wounded hegemon’ or secure as most powerful currency on earth?

US dollar: ‘Wounded hegemon’ or secure as most powerful currency on earth?

Summary

Countries in the Global South are exploring alternatives to the U.S. dollar (USD) for international trade. This includes using China's Cross-Border Interbank Payment System (CIPS) and local currencies for trade, particularly among BRICS nations. These moves aim to reduce dependency on the USD in global trade.

Key Facts

  • South African and Chinese central banks launched a new payment system aimed at reducing reliance on the USD.
  • Standard Bank in Africa now connects directly to China's payment system, allowing trade in Chinese renminbi.
  • BRICS nations are seeking to use local currencies for trade to avoid USD dependency.
  • Countries like India, UAE, Brazil, and China are actively trading with one another in their local currencies.
  • China and Russia are shifting their trade to local currencies, partly to avoid Western sanctions.
  • BRICS is working on a digital currency system called Bridge to bypass USD and SWIFT for international payments.
  • Over the last decade, China has become a leading trade partner in the Global South, reducing U.S. trade influence.
  • Analysts note hidden costs exist when trading in USD, benefitting the U.S., and countries are seeking alternatives.

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Change aims to make credit card access 'simpler'

Change aims to make credit card access 'simpler'

Summary

A new law in Jersey aims to make it easier for people to get credit cards. This change allows sharing specific information with UK credit agencies, which might help more credit card companies return to Jersey. The decision about returning to the Jersey market will still lie with the banks.

Key Facts

  • Jersey's government passed a law to simplify credit card approval.
  • The law changes how information is shared with UK credit agencies.
  • The amendment lets the government share names and addresses for credit checks.
  • There is an option for Jersey residents to opt out of having their information shared.
  • The Jersey Consumer Council has supported this change for several years.
  • The law aims to resolve issues with credit card availability in Jersey.
  • Banks will decide if they want to re-enter the credit card market in Jersey.
  • Privacy concerns related to data sharing have been addressed.

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80,000 Keurig Coffee Pods Recalled Over Urgent Issue

80,000 Keurig Coffee Pods Recalled Over Urgent Issue

Summary

Over 80,000 Keurig McCafé Premium Roast Decaf Coffee K‑Cup Pods have been recalled due to concerns they may contain caffeine. The U.S. Food and Drug Administration (FDA) categorized this as a Class II recall, indicating potential temporary health effects for certain individuals.

Key Facts

  • Keurig McCafé Premium Roast Decaf Coffee K‑Cup Pods are being recalled.
  • Over 80,000 pods are affected by the recall.
  • The recall is due to concerns that the decaf pods might contain caffeine.
  • The FDA classified this as a Class II recall, which means it may cause temporary health effects.
  • Consumers can identify the recalled products by checking the best-by date, batch number, material number, and ASIN.
  • The pods were sold in California, Indiana, and Nevada.
  • People who need to limit caffeine for health reasons are advised not to use these pods.
  • Consumers can return the pods to retailers for a refund or replacement.

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Trump says he is raising tariffs on South Korea to 25%

Trump says he is raising tariffs on South Korea to 25%

Summary

President Donald Trump announced he plans to increase tariffs on South Korean exports from 15% to 25%. He claims this is because South Korea has not ratified their trade deal quickly enough. The tariffs will affect various goods, including cars, lumber, and pharmaceuticals.

Key Facts

  • President Trump intends to increase tariffs on South Korean exports to 25%.
  • The current tariff is 15%, agreed upon as part of a trade deal last year.
  • Trump made the announcement on the social media platform Truth Social.
  • The tariff hike targets products such as automobiles, lumber, and pharmaceuticals.
  • The South Korean legislature has not yet approved the trade deal.
  • The White House has not yet made the tariff increase official with an executive order.
  • The U.S. and South Korea reached a trade agreement in July to lower tariffs to 15%.
  • Trump discussed trade with South Korean President Lee Jae-myung during an international forum in October.

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Airlines pay out millions after initially rejecting claims

Airlines pay out millions after initially rejecting claims

Summary

Airlines paid millions of pounds in compensation to passengers after initially denying or not resolving their claims for flight delays or cancellations. Most of these payouts were ordered after complaints were escalated to independent adjudicators. British Airways, Wizz Air, Ryanair, and EasyJet are among the airlines that paid significant amounts to passengers during the year ending in October 2025.

Key Facts

  • Airlines paid almost £11 million in compensation for claims initially denied or unresolved.
  • The Civil Aviation Authority (CAA) reported these figures for the year up to October 2025.
  • Most of the compensation came from British Airways, paying £6.9 million.
  • Wizz Air, Ryanair, and EasyJet also paid compensation of £1.7 million, £1.68 million, and £371,000, respectively.
  • Complaints handled by independent adjudicators CDRL and CEDR often resulted in compensation.
  • Customer complaints mostly concerned severe delays or cancelled flights.
  • British Airways faced 10,679 complaints, with 81% decided in the customers' favor after escalation.
  • Consumer advocacy groups claim airlines sometimes use confusing information to discourage claims.

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Chia Seed Recall Sparks Nationwide Warning to Whole Foods, Amazon Customers

Chia Seed Recall Sparks Nationwide Warning to Whole Foods, Amazon Customers

Summary

Navitas Organics is recalling certain lots of its Organic Chia Seeds because they might be contaminated with salmonella. These seeds were sold at Whole Foods and through Amazon across the U.S. The FDA says nobody has reported getting sick from these seeds, but customers should return them for a refund.

Key Facts

  • Navitas Organics is recalling specific lots of Organic Chia Seeds due to salmonella concerns.
  • The seeds were sold at Whole Foods Markets and on Amazon.
  • No illnesses have been reported yet related to these seeds.
  • The recall affects 8-ounce pouches with UPC number 858847000284 and specific lot numbers.
  • Customers can return the seeds for a refund at the original purchase location.
  • The FDA helps monitor recalls and alerts the public as a service.
  • Navitas Organics has been providing chia seeds for over 20 years.

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This Year's Tax Refunds Could Be Bigger: How to Track Yours

This Year's Tax Refunds Could Be Bigger: How to Track Yours

Summary

Americans are expected to get larger tax refunds this year due to changes in tax laws under President Trump's Working Families Tax Cuts Act. The average refund might increase by $1,000 or more, with tax filing starting January 26. The IRS recommends using direct deposit to receive refunds quickly and securely.

Key Facts

  • Americans may receive the largest tax refunds in history due to President Trump's tax changes.
  • The new tax law changes are retroactive to the beginning of 2025.
  • Economists project average refunds could be $3,800 to $4,200, up from $3,004 in 2023.
  • Taxpayers can start filing 2025 tax returns on January 26, and the deadline is April 15.
  • The IRS encourages direct deposit as it is faster and safer than paper checks.
  • Approximately 93% of taxpayers filed electronically last year.
  • About 75% of taxpayers typically receive a refund each year.
  • Options exist for taxpayers without traditional bank accounts to receive electronic deposits.

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White House Shares Update on 'Largest' Tax Refund Ever

White House Shares Update on 'Largest' Tax Refund Ever

Summary

The White House announced that Americans will receive the largest tax refunds in U.S. history due to the Working Families Tax Cuts Act introduced by President Donald Trump. Economists predict that average refunds could increase significantly, with the IRS beginning to process tax returns soon.

Key Facts

  • The White House expects Americans to get the largest tax refunds in history this tax season.
  • Average tax refunds could increase by $1,000 or more compared to recent years.
  • New tax provisions, including expanded deductions, have contributed to the larger refunds.
  • Average refunds are projected to be about $4,000, up from roughly $3,000 in recent years.
  • Measures include eliminating taxes on tips, overtime, and Social Security benefits.
  • The IRS will start accepting tax returns soon, and taxes are due on April 15.
  • Treasury Secretary Scott Bessent mentioned possible refunds of $1,000 to $2,000 per household.
  • Analysts predict a "gigantic refund year" due to changes being retroactive to 2025.

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Trump administration moves to invest $1.6bn in US rare earths firm

Trump administration moves to invest $1.6bn in US rare earths firm

Summary

The Trump administration plans to invest $1.6 billion in USA Rare Earth, a US minerals company, to increase local production of vital minerals and reduce reliance on China. This investment includes a $1.3 billion loan and $277 million in federal funding to enhance mining and manufacturing needed for products like smartphones and defense technologies.

Key Facts

  • The Trump administration is investing $1.6 billion in a US minerals company called USA Rare Earth.
  • This move aims to boost production of critical minerals needed for various technologies.
  • USA Rare Earth will receive a $1.3 billion loan and $277 million in federal funding.
  • The investment is part of a strategy to reduce dependence on China for rare earths.
  • USA Rare Earth also raised an additional $1.5 billion from private investors.
  • The US government has made similar investments in other rare earths firms.
  • China processes about 90% of the world's rare earths, giving it a strong market position.
  • Rare earths are important in trade negotiations between the US and China, as the materials are crucial for many industries.

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