President Donald Trump is meeting with oil company leaders to get $100 billion in investments aimed at improving Venezuela's oil industry. This move follows a recent U.S. military operation and involves U.S. control over Venezuelan oil sales to help keep gasoline prices low.
Key Facts
President Trump is meeting oil executives at the White House.
The aim is to secure $100 billion in investments for Venezuela's oil industry.
The meeting comes after a U.S. military operation against former Venezuelan leader Nicolás Maduro.
The U.S. has taken control of Venezuelan oil sales, managing 30 to 50 million barrels.
Three Venezuelan oil tankers have been seized by the U.S.
The goal is to help reduce gasoline prices in the U.S.
The job market showed slow progress at the end of a year marked by disappointing employment gains. In December, 50,000 jobs were added, and the unemployment rate decreased slightly to 4.4%. Businesses seemed cautious about hiring, possibly due to economic uncertainty and technology changes.
Key Facts
Employers added 50,000 jobs in December.
November's job gains were revised to 56,000.
The unemployment rate decreased to 4.4% in December from 4.5% in November.
Layoffs have been low, with unemployment benefits applications dropping below 200,000.
Businesses appear hesitant to hire due to economic uncertainty.
Factors affecting hiring include changing tariff policies, inflation, and the impact of artificial intelligence.
Studies show that American consumers are more interested in buying electric vehicles (EVs) if they meet their needs and preferences. A report by HSBC and a survey by Deloitte highlight several barriers to EV adoption in the U.S., such as high costs, charging concerns, and changing government policies. Automakers are investing heavily in developing EVs, but many American consumers still prefer traditional gasoline or diesel cars.
Key Facts
HSBC's report indicates Americans will buy more EVs if they are appealing and meet consumer preferences.
U.S. EV adoption faces challenges like the end of government incentives and changing regulations.
The Trump administration relaxed fuel economy standards in 2025, affecting EV market growth.
Automakers invested billions in EV development; Ford reported a $19.5 billion loss from EV investments.
Deloitte's survey found 61% of U.S. consumers plan to buy gasoline or diesel cars, not EVs.
Concerns like battery range, charging time, and cost hinder Americans from adopting EVs.
U.S. median EV battery range has grown 12% since 2020, and further improvements are expected.
The 2021 Bipartisan Infrastructure Law allocated over $7.5 billion for EV charging infrastructure.
Omar Terywall's company, Cambridge Rowing Limited, is in a legal dispute with the University of Cambridge over the use of the name "Cambridge" for his business. The university has objected to Terywall's trademark application, saying it needs to protect its own trademark. A decision on the dispute is expected soon.
Key Facts
Omar Terywall launched Cambridge Rowing Limited in 2021, based in Cambridge, UK.
The company offers rowing experiences on the River Cam and has taught over 5,000 people.
In January 2022, the company applied to register a trademark featuring "Cambridge Rowing."
The University of Cambridge filed a legal objection in May 2022 opposing this trademark.
The university argues it needs to protect its registered trademark for the word "Cambridge."
A hearing on this matter occurred in 2025, and a decision is pending.
Terywall describes the situation as intimidating due to the university's size and influence.
UK trademarks cover different categories, including sports clothing and events.
Some businesses, like high street shops and music venues, want the UK government to include them in plans that would lower business rates for pubs. The government is expected to announce that pubs in England will get a special break from increased rates, but other businesses are worried they will struggle without similar support. Many groups are asking for a broader change to the business rates system.
Key Facts
UK businesses such as high street shops and music venues want the same lower business rates that pubs are expected to receive.
The government plans to help pubs by reducing their business rates, but this help will not extend to other businesses.
Business rates are taxes that businesses pay on the property they use.
Recently, the chancellor reduced the business rate discount from 75% to 40%.
High street retailers and music venues feel left out of the discussions for rate relief.
The British Retail Consortium and other groups argue the current business rates system needs a major overhaul.
Some predict large increases in business costs, like a potential 140% rise for pharmacies.
Many sectors, including gyms and leisure centers, fear higher rates will lead to increased prices and service cuts.
Investors in Warner Bros Discovery are divided over an improved offer from Paramount to buy the company. Paramount's offer is higher, but Warner Bros believes their deal with Netflix is better because Paramount's proposal could lead to too much debt for the combined company. Investors have until January 21 to decide on the Paramount offer.
Key Facts
Paramount has proposed to buy Warner Bros for $108.4 billion, offering $30 per share.
Warner Bros has an existing agreement with Netflix, and believes this deal is more reliable despite being lower at $82.7 billion, at $27.75 per share.
Warner Bros says accepting Paramount's offer would leave them with $87 billion in debt.
There is a $2.8 billion fee to break their deal with Netflix, plus $1.5 billion in fees owed to bankers and another $350 million in financing costs.
Some investors, like Harris Oakmark and IHT Wealth Management, support the board's decision to reject Paramount's offer.
Others, like Pentwater Capital Management and Gabelli Funds, argue for accepting Paramount's offer, seeing it as simpler and quicker to pass regulatory approval.
Major investors in Warner Bros, such as Vanguard, State Street, and BlackRock, also hold shares in both Paramount and Netflix.
The Federal Reserve's recent decision to lower interest rates could lead to a smaller increase in Social Security payments in 2027. This is because the rate cut may result in a lower cost-of-living adjustment (COLA), which affects how much Social Security recipients receive each year. More than 70 million Americans rely on these payments.
Key Facts
The Federal Reserve cut interest rates by 0.25 percent in December.
Future rate cuts by the Fed may be paused for some time.
Social Security payments for over 70 million Americans depend on the COLA, which is adjusted yearly based on inflation.
The Fed's benchmark interest rate will be between 3.5 to 3.75 percent moving into 2026.
The Consumer Price Index (CPI) helps determine the COLA by measuring inflation.
Estimates suggest the COLA for 2027 could be as low as 2.1 percent.
A lower COLA means reduced Social Security payments, reflecting lower inflation rates.
Lower COLA could also result in lower expenses for consumers over the long term.
President Trump's administration and the Federal Reserve expect a surge in productivity starting in 2025 to boost economic growth. However, there are risks that either the boom may not happen, or even if it does, it might not improve job opportunities immediately. While productivity has grown significantly, leading to higher GDP, it also suggests that hiring may remain low even as companies produce more.
Key Facts
President Trump's administration and the Federal Reserve anticipate a productivity boom in 2025.
There are two risks: the boom might not happen, or it might not help job growth soon.
Labor productivity increased by 4.9% in the recent quarter, while output rose by 5.4%, with hours worked increasing only 0.5%.
Companies are producing more with fewer new hires, weakening labor demand.
AI advancements and Trump administration policies might be contributing to increased productivity.
Investments in labor-saving technologies during tight post-pandemic labor markets are paying off.
Experienced employees remaining in the workforce might be boosting productivity per hour.
If the productivity boom continues, it could improve GDP but might not lead to immediate job growth.
Greggs, a well-known bakery chain, reports that popular weight loss drugs are causing people to seek smaller and healthier food portions, impacting their sales. In response, Greggs is introducing products that cater to these changing dietary preferences, such as smaller portions and items high in protein and fiber. Other companies like Tesco are also noticing shifts in consumer eating habits linked to these medications.
Key Facts
Greggs reports that appetite-suppressing weight loss drugs are influencing customers to opt for smaller food portions.
The bakery is introducing products with more protein and fiber to meet the demand for healthier options.
Greggs has shifted focus from traditional high-fat pastries to healthier food items.
The company has reported lower profits and a less optimistic forecast for next year.
Tesco also observes changes in eating habits due to the rise of weight loss drugs, reporting stronger sales in fresh produce.
There is a growing trend of companies adjusting product offerings to align with consumer interest in healthier foods.
A UK ban on pre-9pm junk food ads aims to help combat obesity.
The effects of "shrinkflation" mean some companies are reducing product sizes but keeping prices steady.
The UK government plans to lessen the impact of upcoming business rate increases for pubs. Changes will be announced soon to reduce how much pubs have to pay in taxes based on their property value. This move comes after pressure from pub owners and industry groups.
Key Facts
The government will adjust how business rates for pubs are calculated.
The planned changes will lead to smaller increases in bills for pubs.
Many pubs warned about financial struggles due to rate hikes.
Over 1,000 pubs banned Labour MPs in protest over current policies.
Chancellor Rachel Reeves had previously reduced business rate discounts.
Relief measures include reducing the "multiplier" and a £4.3 billion fund.
This decision is part of several government reversals on previous decisions.
The government decided not to make further changes to its farm inheritance tax plans, which have already been adjusted after protests. The tax threshold for inheriting agricultural assets was raised from £1 million to £2.5 million, allowing more assets to be passed on without paying taxes. Some farming groups still oppose the tax, saying it hurts the rural economy.
Key Facts
The farm inheritance tax threshold was increased from £1 million to £2.5 million.
The government decided against any further changes to this tax plan.
Farmers protested in Oxford against the original tax proposals.
The changes allow a couple to pass on £5 million in assets without paying taxes.
The Country Land and Business Association continues to campaign against the policy.
The National Farmers' Union expressed relief about the increased threshold but remains opposed to the tax.
Environment Secretary Emma Reynolds assured no sudden closures of farming payment schemes.
The Sustainable Farming Incentive was unexpectedly closed last year due to full funding allocation.
Subway introduced a new menu available at U.S. locations starting January 8. The menu includes Protein Pockets and a Sub of the Day program, offering new food options focused on protein and affordability.
Key Facts
New menu items are available at participating Subway locations in the U.S. from January 8.
Protein Pockets are a new sandwich option featuring different proteins and vegetables in a tortilla.
Each Protein Pocket has over 20 grams of protein and costs around $3.99.
The Sub of the Day program offers a different 6-inch sub each day of the week for $4.99.
Customers can upgrade to a full meal for an additional $2.
Subway launched a loyalty program in December, offering a free sub after purchasing four footlongs.
The new menu items are available for a limited time, and prices may vary in Alaska, Hawaii, and for delivery orders.
Luxe Recovery, a treatment center in Los Angeles, focuses on empathy as a key part of addiction treatment. It prioritizes treating clients as individuals rather than numbers, with continuity in care from start to finish. The center has grown rapidly and is expanding with new facilities.
Key Facts
Luxe Recovery is located in Los Angeles and focuses on addiction treatment.
The center prioritizes empathy and individual care over profit.
Luxe Recovery was co-founded by Frank Wills, who has a personal history with addiction.
The center has been recognized as a top addiction treatment facility by Newsweek.
It operates several treatment homes and plans to open a large outpatient center.
Luxe Recovery maintains continuity in care by keeping the same care team throughout treatment.
The center only allows graduates of their programs to join its sober living homes, ensuring consistency.
A dog owner, Paige, ordered an extra-large jumper for her Belgian Malinois, but it did not fit as expected. This situation highlights the growing trend of American pet owners spending more on pet products online, often encountering issues like misleading sizes. The pet industry in the U.S. is booming, with people spending more than ever on their pets despite economic concerns.
Key Facts
Paige ordered an extra-large jumper for her Belgian Malinois, but it didn't fit as expected.
Her incident was shared on Instagram Threads, receiving over 55,000 views and 4,600 likes.
The American Pet Products Association reports that 51% of pet owners shop for pet products online.
The U.S. pet industry is projected to reach $157 billion in spending by 2025.
On average, U.S. dog owners spend $2,489 annually on various dog-related expenses.
One-time dog expenses can add around $2,127 more on average.
Online shopping can lead to issues with sizing and expectations, as seen with Paige's order.
Total layoffs in the U.S. during 2025 reached the highest number since 2020, with big cuts across various sectors like government and technology. Although layoffs slowed down in December, 2025 had the worst fourth quarter for layoffs since 2008, with significant job reductions especially in government roles.
Key Facts
U.S. employers announced 1.2 million layoffs in 2025, the highest since 2020.
December saw 35,553 layoffs, lower than in November and a year earlier.
2025 had the worst fourth quarter for layoffs since 2008, with 259,948 job cuts.
Government roles saw the highest layoffs, primarily due to federal government actions.
Technology sector layoffs increased by 15% to 154,445 in 2025.
Retail industry layoffs more than doubled compared to 2024, partly due to shifts towards online shopping.
The unemployment rate increased to 4.6% in November 2025.
Tom Beahon, co-founder of Castore, a sportswear company, explained why football kit prices are high. He said prices reflect rising material costs and the large investments in sports. Castore aims to address affordability with entry-level products and is not worried about counterfeit products.
Key Facts
Castore is a sportswear firm founded by Tom and Phil Beahon in 2015.
The price for a basic adult men's Premier League shirt ranges from £60 to £85.
Beahon explained that rising costs are due to inflation, material prices, and investments in sports.
He believes in a capitalist system where if prices were too high for consumers, they would fall naturally.
Castore offers entry-level product ranges to make official kits more affordable.
Beahon is not overly concerned about counterfeit shirts, mentioning the potential for microchips to verify authenticity.
Castore produces kits for clubs like Everton, Burnley, and Rangers.
President Donald Trump's administration renegotiated a global tax agreement, exempting U.S. multinational corporations from a proposed 15% minimum tax. Former Treasury Secretary Janet Yellen stated this could reduce U.S. tax revenue and worsen the fiscal deficit. The Organisation for Economic Cooperation and Development (OECD) announced the finalized tax plan with 147 nations, excluding the U.S. from some of its effects.
Key Facts
The Trump administration exempted U.S. companies from a global 15% minimum tax.
Janet Yellen warned the exemption might cut into U.S. revenue and increase the deficit.
The OECD announced a new global tax plan agreed upon by 147 countries.
The plan aims to prevent tax avoidance by large companies worldwide.
Treasury Secretary Scott Bessent called the exemption a win for U.S. sovereignty.
President Trump opposed previous commitments due to concerns over U.S. sovereignty.
The exemption lets U.S. firms avoid higher taxes and maintain favorable conditions abroad.
Critics say the exemption weakens the global tax agreement's effectiveness.
Tesco and Marks & Spencer (M&S), two large UK retail companies, reported strong food sales during the Christmas season. M&S faced declines in its clothing and home products, partly due to past cyber-attack issues. Both companies saw growth in their market share for food sales.
Key Facts
Tesco's UK sales increased by 3.2% compared to the previous year.
Tesco reported its highest market share in over ten years.
M&S saw a record number of customers and strong food sales during Christmas.
M&S's clothing, home, and beauty sales dropped by nearly 3%.
The decrease in M&S's non-food sales was linked to fewer shoppers on the High Street and leftover challenges from a past cyber-attack.
Tesco's Finest product range grew by 13% in sales.
Tesco expects to report annual operating profits around the higher end of its predicted range of £2.9 billion to £3.1 billion.
M&S's CEO mentioned that their food business reached a new market share milestone.
Kristina O'Neill and Laura Brown, both editors who were fired from their jobs, wrote a book about embracing job loss to move forward. They now have successful careers and offer advice for those looking to find new work. Their tips include reflecting on past work, taking small steps toward change, and recognizing personal achievements.
Key Facts
Kristina O'Neill and Laura Brown wrote a book called 'All the Cool Girls Get Fired' after being fired from editorial positions.
They encourage people to openly acknowledge job loss to better move forward.
Laura now owns a media company, and Kristina is the editor in chief for Sotheby's magazine.
They suggest reflecting on the past year to identify work experiences that inspire or drain energy.
Taking small steps, like volunteering or exploring different job roles, is recommended before big career changes.
Remembering personal achievements is important, as job loss does not erase past successes.
They highlight that many people have experienced job loss, especially with recent high redundancy rates.
The article discusses the impact of tariffs, implemented by President Trump, on the global economy. It explains that these tariffs have affected economic growth predictions and caused changes in global trade patterns. Despite challenges, some countries and businesses have adapted to these tariffs through negotiations and exemptions.
Key Facts
President Trump has implemented tariffs that are affecting global trade and the economy.
The International Monetary Fund (IMF) predicts global economic growth will slow to 3.1% in 2026, partly due to tariffs.
The tariffs have not caused as much harm as expected because not many countries retaliated aggressively.
Despite five rounds of trade talks, the U.S. and China still have significant tariffs against each other.
Tariffs have increased costs for businesses but lower interest rates and the weakened dollar have softened some impacts.
The UN predicts global trade grew by 7% last year, reaching a value over $35 trillion.
Some countries have managed to make trade deals with the U.S. amidst these tariff challenges.
The U.S. economy showed strong growth of 4.3% between July and September.
