A 1960s Aston Martin DB5, once left rusting in a driveway, has been restored and is now valued at £1 million. John Williams bought the car in 1973 for nearly £1,000 and invested £400,000 in its restoration, which took three years and was completed by Aston Martin experts.
Key Facts
The car is a 1960s Aston Martin DB5, similar to the one in famous James Bond movies.
John Williams purchased it in 1973 for £985, which is about £15,000 today.
The car sat unused and became rusty over time.
Williams spent £400,000 on its restoration.
Aston Martin experts worked 2,500 hours to restore the car over three years.
After restoration, the car's value is estimated at £1 million.
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Tech businessman Michael Dell announced a pledge of $6.25 billion to create 25 million "Trump accounts" for children. These accounts aim to expand child investment opportunities beyond those identified by a recent legislative bill.
Key Facts
Michael Dell is donating $6.25 billion.
The donation will create 25 million "Trump accounts" for children.
These accounts are meant to help with child investments.
The funding exceeds the scope of a recent legislative bill.
Dell announced this through a video on a social media platform.
The initiative is one of the largest gifts ever aimed at benefiting children.
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The U.S. Food and Drug Administration (FDA) issued a warning on November 24, 2025, about imported cookware that may release lead into food. The warning lists specific products, primarily made from aluminum and brass, and advises consumers to discard them and retailers to stop selling them. The FDA stresses that lead exposure is dangerous, especially for children and pregnant women.
Key Facts
The FDA updated its list of imported cookware that may leach lead on November 24, 2025.
The warning adds nine new products to an initial list from August 2025.
Most of the products tested by the FDA failed safety tests designed to mimic regular cooking.
The affected items include pots and pans made from materials like aluminum and brass.
Brands mentioned include Sonex, IKM, Silver Horse, and others.
Consumers are advised to discard listed products if found in their homes.
Retailers are urged to stop selling these products and ensure compliance with FDA rules.
The FDA continues to monitor and test cookware for safety, and the list may be updated with more products.
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A senior official from the UK's economic forecaster, the Office for Budget Responsibility (OBR), stated that Chancellor Rachel Reeves did not mislead the public about the UK's financial challenges before the Budget. Although forecasts were better than expected, difficult financial choices still needed to be made. There was also concern over media leaks regarding financial information leading up to the Budget.
Key Facts
Professor David Miles from the OBR said Rachel Reeves' comments about financial challenges were accurate.
The OBR's forecasts suggested a better financial situation than initially thought.
Despite better forecasts, the Budget involved challenging choices and included £26 billion in tax increases.
Rachel Reeves warned of weaker UK productivity impacting public finances ahead of the Budget.
The OBR informed the Treasury that higher wages would offset lower productivity, meeting a key borrowing rule by £4.2 billion.
There were concerns about media leaks of financial information before the Budget.
A political dispute arose over whether Reeves misled the public to justify tax rises.
The financial "headroom" or buffer for the Budget was much smaller than in previous years.
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A group of U.S. retailers and companies are suing the federal government to potentially get refunds on tariffs imposed by President Donald Trump. The Supreme Court is reviewing whether these tariffs were legal, which could impact businesses financially and change how presidential powers are applied in trade issues.
Key Facts
U.S. retailers and manufacturers are suing the government over tariffs President Trump imposed.
The Supreme Court is examining if Trump's use of tariff powers under the International Emergency Economic Powers Act (IEEPA) was legal.
If the Court rules against the tariffs, companies could reclaim money paid on these tariffs.
Costco is one of the main companies involved in the lawsuit.
Other companies involved include Bumble Bee Foods, EssilorLuxottica, Kawasaki Motors, Revlon, and Yokohama Tire.
The decision could affect supply chains, consumer prices, and the balance of power between the White House and Congress.
The case, Trump v. V.O.S. Selections, could set a precedent for the limits of executive power in trade matters.
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Michael and Susan Dell have promised to donate $6.25 billion to help fund investment accounts for American children. This donation will help expand accounts started by the government, which give financial support to children under the Trump administration.
Key Facts
Michael Dell founded Dell Technologies in 1984 with $1,000.
The Dell family has a net worth of $129 billion according to Forbes.
The couple's donation will add money to investment accounts for children 10 and younger.
Eligible children born between 2025 and 2028 already receive $1,000 from the government.
The donated funds can be used for education or starting a business once the child turns 18.
Accounts for these investments open on July 4, 2026.
To qualify, children must live in lower-income areas where the median income is below $150,000.
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The Organization for Economic Co-operation and Development (OECD) predicts that the U.S. economy will grow slower and see higher inflation next year. A major concern is that a potential burst in the AI-driven stock market bubble could worsen economic conditions.
Key Facts
The OECD forecasts that U.S. economic growth will slow down and inflation will increase next year.
The labor market in the U.S. is expected to weaken.
Tariff-related price pressures will continue to affect the economy.
There is a risk that the AI-driven stock market bubble might burst, which could worsen economic conditions.
The OECD projects U.S. economic growth to be 2% this year, slowing to 1.7% in 2026 and rising to 1.9% in 2027.
Inflation in the U.S. is expected to rise to 3% next year from 2.7% this year.
The organization suggests that more interest rate cuts might be needed.
The situation is still developing, and more updates are expected.
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A group travel discount is available for bus travel in Hull over Christmas. The discount allows up to five people to travel for £7 instead of the usual £14.90.
Key Facts
A group travel discount is offered for bus travel in Hull.
The discount is available from Stagecoach East Midlands and East Yorkshire Buses.
The discounted ticket is for up to five people and costs £7.
Normally, the group ticket costs £14.90.
The discount is valid from the start of the scheme on Monday until 31 December.
The ticket allows unlimited travel on the day of purchase on Stagecoach or East Yorkshire buses in Hull.
The scheme aims to help with cost-of-living expenses and reduce traffic congestion.
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The IRS may need to watch OnlyFans content to determine if creators' earnings qualify under the "no tax on tips" law in President Trump's recently passed bill. This bill exempts certain workers from federal taxes on tips, but the inclusion of OnlyFans creators under this exemption is unclear. The IRS faces challenges in defining what qualifies as tips on platforms like OnlyFans.
Key Facts
The IRS might review OnlyFans content to see if it qualifies for tax exemptions under the "no tax on tips" law.
President Trump's bill, passed in July, aims to remove federal taxes on tips for eligible workers.
OnlyFans creators are not currently clearly included in the tax exemption.
The platform includes different types of content, not just adult material.
Professions like bartenders and waiters are among those already listed for tax exemptions.
OnlyFans reported $7.2 billion in spending on the site in 2024.
The platform has 4.6 million creator accounts globally.
The IRS's approach to reviewing content and determining exemptions is not yet clear.
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Bankruptcy filings in the United States have increased significantly in 2025, with both household and business filings rising. The number of total filings reached the highest annual count since 2020, due to financial pressures like higher prices and tighter lending. Notable company bankruptcies this year include Spirit Airlines and Claire's.
Key Facts
U.S. bankruptcy filings increased by 10.6% in the 12 months ending September 30, 2025.
Business bankruptcies rose by 5.6%, and non-business filings climbed by 10.8%.
Total filings for the year reached 557,376, the highest since 2020.
Large corporate bankruptcies in 2025 are nearing a 15-year high, with 655 filings reported so far.
Higher prices, stricter lending conditions, and geopolitical uncertainties contribute to the financial strain on consumers and businesses.
The American Bankruptcy Institute noted a 12% rise in total filings for October 2025 compared to the same month the previous year.
Experts expect financial challenges like high interest rates to continue pushing bankruptcy rates up in the coming year.
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Olive Garden has brought back two popular pasta dishes to its menu for the winter season, responding to customer requests. The restaurant hopes to draw more customers by reintroducing these favorite dishes until March 22. This move reflects a trend among restaurants to use new or returning menu items to increase business.
Key Facts
Olive Garden has reintroduced Braised Beef Tortelloni and Ravioli di Portobello.
These dishes will be available until March 22.
The decision followed requests from thousands of customers, including seven petitions on Change.org.
Customers who campaigned for the dishes’ return may get a free entree.
The Braised Beef Tortelloni includes beef, mushrooms, and tortelloni in mushroom sauce.
Other restaurant chains, like Logan's Roadhouse and SONIC, are also offering seasonal menu items.
The strategy is common as restaurants try to boost sales amid economic challenges, like inflation.
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The OECD says the UK economy will face challenges due to tax increases and spending cuts, which could slow down growth. The UK is expected to see steady but low economic growth and high inflation compared to other major economies. The OECD predicts that in the coming years, growth will slowly improve, with a slight economic boost expected from lower interest rates and improved global trade.
Key Facts
Tax rises and spending cuts are expected to slow down the UK's economic growth.
The UK economy is forecast to grow by 1.4% this year, then slow to 1.2% in 2026.
Inflation in the UK is projected to be 3.5% this year, the highest among the G7 countries.
UK growth may increase to 1.3% by 2027, after a drop next year.
The Bank of England is expected to cut interest rates, potentially boosting the economy.
UK Chancellor Rachel Reeves indicated that her Budget aims to cut inflation and improve households' cost of living.
The OECD believes careful management of tax and spending is needed due to risks to growth and inflation.
Global economic growth is forecasted to be 3.2% this year but slow in 2026, with a rebound expected in 2027.
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Burger King launched a special SpongeBob-themed menu to celebrate the upcoming release of "The SpongeBob Movie: Search for SquarePants." The special items in the menu will be available at Burger King locations across the U.S. starting December 2, 2025, as supplies last.
Key Facts
Burger King created a SpongeBob-themed menu to celebrate the new SpongeBob movie.
The movie, "The SpongeBob Movie: Search for SquarePants," will be released on December 19, 2025.
The menu includes items like SpongeBob’s Krabby Whopper and Patrick’s Star-berry Shortcake Pie.
The Bikini Bottom Bundle includes all themed menu items in a unique pineapple-shaped box.
A special kids' meal comes with collectible SpongeBob toys and a limited-edition crown.
Burger King Royal Perks members can order these items through the app with exclusive deals.
A special Burger King x SpongeBob event will occur in Miami on December 6 and 7.
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The Bank of England warns that UK stock values are at their highest risk levels since the 2008 financial crisis, especially for tech companies focused on AI. This warning highlights the potential for a market downturn, fueled by large amounts of debt financing the AI sector. The report also notes potential risks to financial stability from geopolitical tensions and rising interest costs.
Key Facts
The Bank of England reports UK stock values are as stretched as they were in 2008.
There are concerns about a potential market correction in tech, especially AI companies.
AI sector growth is expected to be financed by trillions of dollars in debt.
If AI company values drop, it could impact financial stability.
Global spending on AI infrastructure could exceed $5 trillion.
43% of UK mortgage holders are expected to refinance at higher rates by 2028.
The Bank of England's base rate for borrowing has decreased to 4% from 5.25% in 2024.
Geopolitical tensions are heightening risks of financial instability and potential cyberattacks.
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A report by Redfin predicts that U.S. home sales will increase by 3% in 2026, following a slow recovery in affordability. Rising home prices and high borrowing costs have reduced homebuying power this year, but a gradual improvement in affordability is expected as incomes rise faster than home prices.
Key Facts
Home sales are expected to rise 3% in 2026 from 2025.
Rising home prices and high borrowing costs have limited homebuying this year.
From February to May, home sales fell each month compared to the previous year.
In October, 445,607 homes were sold, showing a 2.4% increase from a year ago.
The median home sale price in October was $439,869, up 1.3% from October 2024.
Redfin predicts that mortgage rates will stay in the low 6% range next year.
Improved affordability is expected as incomes rise faster than home prices.
Many people, especially younger buyers, may still find homeownership out of reach.
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The U.S. housing market is predicted to slowly recover next year with more affordable options, according to Redfin. Areas like the New York City suburbs and the Midwest are expected to become more attractive to buyers due to lower costs and fewer natural disasters.
Key Facts
Redfin predicts a gradual recovery in the U.S. housing market due to increased affordability.
The recovery is expected to be slow but necessary after years of high home prices and costs.
The New York City suburbs, Midwest, and Great Lakes regions are anticipated to see increased homebuying activity.
Affordability and convenience are key factors driving interest in these regions.
These regions are considered safer from natural disasters, which helps keep insurance costs lower.
Markets that were hot during the pandemic, like Austin and Nashville, are expected to cool down.
High insurance costs and a return to office work have reduced demand in parts of Florida and Texas.
As demand falls and supply increases in these areas, home prices may decrease.
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Several companies are planning layoffs in December due to various economic factors. These include changes in consumer spending and increased use of artificial intelligence. Employers are providing advance notice to workers about these upcoming job cuts.
Key Facts
Companies must issue WARN notices to give employees advance warning of layoffs.
Layoffs are happening due to economic factors like reduced consumer spending and increased AI use.
Some companies overhired during the pandemic and are now adjusting staff levels.
Tech company Meta plans to lay off between 101 and 250 employees.
Starbucks may lay off up to 1,000 workers according to WARN notices.
Retail and service industries are leaning more on automation, reducing human employment.
Financial experts explain that layoffs are more strategic cuts than abrupt decisions.
Layoffs are seen as a way for companies to show financial discipline to investors.
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Several restaurant chains in the US are planning to open new locations by 2026. Chains like Layne’s Chicken, Paris Baguette, Sweetgreen, and Via 313 have announced expansion plans. Despite challenges in the industry, these brands are growing due to their strong financial support.
Key Facts
Layne’s Chicken plans to open 44 new locations across West Texas by 2026.
Paris Baguette aims to have more than 500 units in development and operate over 1,000 locations in the US by 2030.
Sweetgreen intends to open 40 new locations by the end of 2025 and an additional 15 to 20 by 2026.
Via 313 plans to expand by opening four to five new stores in 2026 with $32.5 million investment support.
Some restaurant chains are expanding due to strong financial backing that helps them manage costs and grow.
These expansions are occurring even as many smaller restaurants struggle due to increased costs and competition.
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There is a new analysis suggesting that home prices in Florida could rise by 7 to 9 percent if the state eliminates property taxes, as proposed by Governor Ron DeSantis. While this plan might help current homeowners, it could make homes less affordable for new buyers. Experts express concerns about the financial implications for the state and potential negative effects during economic downturns.
Key Facts
Governor Ron DeSantis proposes eliminating property taxes in Florida.
A Realtor.com analysis indicates home prices could increase by 7 to 9 percent if property taxes are removed.
Eliminating these taxes could raise Florida's housing stock value by $200 billion to $250 billion.
The proposal may benefit current homeowners but make it harder for new buyers to afford homes.
Experts warn that Florida might need to raise sales taxes or find other revenue sources if property taxes are eliminated.
Economists are concerned about the potential negative impact during a recession, noting Florida could face a housing surplus and financial strain.
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Newell Brands, the company that owns Yankee Candle, announced it will lay off more than 900 employees and close about 20 stores across North America. This move is part of a plan to improve efficiency and create lasting value for the company. The layoffs are part of a broader trend of job cuts in 2025, affecting many large U.S. employers.
Key Facts
Newell Brands plans to cut over 900 jobs, about 10% of its professional and clerical workforce.
The layoffs will take place mainly in the U.S., with additional global reductions in 2026.
Around 20 Yankee Candle stores in the U.S. and Canada will close by January 2026.
The company aims to create a more agile and high-performing business.
Newell Brands reported a 7.2% decline in net sales in the third quarter, blaming tariffs and retaliatory duties.
The company's turnaround plan aims to save $110 million to $130 million annually.
Restructuring costs are expected to be between $75 million and $90 million.
The company's plan is part of a broader trend of significant layoffs in 2025 in the U.S.
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