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.
Unions have accused McDonald's of not addressing claims of sexual harassment against young staff in the UK. The UK National Contact Point will offer to mediate between the unions and McDonald's on this matter. McDonald's is reviewing the allegations and said it is considering its next steps.
Key Facts
Trade unions claim McDonald's violated international labor standards by not dealing with sexual harassment.
A BBC investigation revealed a harmful culture in McDonald's UK operations affecting teenage staff.
The complaint involves five unions and the Corporate Justice Coalition and was spurred by the BBC's findings.
The UK National Contact Point, an independent group, will try to mediate between McDonald's and the unions.
Mediation is voluntary; if declined, a further review of the allegations will occur.
Over 160 people have reported harassment to the BBC since its initial investigation.
More than 700 current and former McDonald's employees are taking legal action against the company.
McDonald's has implemented new harassment training and measures following previous allegations.
An assessment showed that changes to Labour's planned workers' rights reforms will save businesses up to £4 billion annually, reducing the cost from an earlier estimate of £5 billion to £1 billion per year. The reforms, including immediate sick pay and protections for mothers, faced mixed reactions, with business groups supporting them and some Labour members and unions criticizing the concessions. The Employment Rights Act aims to benefit around 18 million workers, with a slight positive impact on employment and economic growth.
Key Facts
Labour's concessions will save businesses an estimated £4 billion each year compared to initial plans.
Originally, proposed reforms were estimated to cost firms £5 billion annually; this figure is now revised to £1 billion.
The Employment Rights Act offers sick pay and paternity leave from the first day and adds protections for mothers.
Plans to allow unfair dismissal claims from the first day have been replaced by a six-month employment requirement.
The reforms are to be phased in over several years, with further consultation and legislation needed.
The changes are expected to positively impact employment rates and economic growth slightly.
Trade unions claim these rights will benefit 18 million workers, up from an earlier estimate of 15 million.
Some business representatives argue that the cost estimates may be too low and underestimate real costs.
President Donald Trump announced plans to prevent big corporate investors from buying single-family homes. He wants Congress to make this plan a law to help more Americans afford housing. Some experts doubt how much such a ban would change home prices, but Trump's announcement caused stock prices in property firms to drop.
Key Facts
President Trump intends to stop large companies from purchasing single-family homes.
He plans to discuss this idea at the Davos World Economic Forum.
Some experts are unsure if the ban would have a significant impact on home prices.
Shares of companies like Blackstone and Builders FirstSource fell after Trump's announcement.
Institutional investors currently own a small percentage of single-family homes in the U.S.
Trump's proposal aims to address concerns about housing affordability and the cost of living.
Ohio Senator Bernie Moreno plans to introduce legislation to support Trump's proposal.
The role of institutional investors in the housing market has been criticized for increasing rental and home purchase costs.
Avelo Airlines has decided to end its partnership with the U.S. Immigration and Customs Enforcement (ICE) for deportation flights. The airline cited high costs and operational challenges as reasons for this decision. In reaction to its collaboration with ICE, Avelo faced protests and criticism from advocacy groups and became the target of various campaigns.
Key Facts
Avelo Airlines was carrying out regular deportation flights for ICE.
The airline will close its base at Mesa Gateway Airport in Arizona on January 27.
The partnership with ICE did not provide enough financial stability for Avelo.
Advocacy groups protested against Avelo's contract with ICE in several cities.
Avelo faced online campaigns and billboard ads opposing its deportation flights.
More than 80% of deportation flights are by Avelo, GlobalX, and Eastern Air Express.
The Trump administration reported over 605,000 deportations last year, more than the entire term of former President Biden.
Warner Bros Discovery's board turned down Paramount Skydance's $108.4 billion offer to buy the studio, citing concerns about the large amount of debt involved. Warner Bros plans to stick with Netflix's lower offer of $82.7 billion, which they consider less risky. Paramount's offer relied on significant debt and personal guarantees from its executives, leading Warner Bros to question its feasibility.
Key Facts
Warner Bros Discovery rejected Paramount Skydance's $108.4 billion offer.
The board cited high debt risks associated with the Paramount deal.
Warner Bros favors Netflix’s $82.7 billion offer.
Paramount's plan included $87 billion in debt, which Warner Bros considered risky.
Netflix's offer involves a mix of cash and stock.
Paramount's bid came with debt concerns and lacked certain guarantees initially.
Paramount is using $40 billion in equity guaranteed by Larry Ellison for its bid.
The Warner Bros board prefers Netflix as a more stable and financially assured partner.
Labour MPs are urging Sir Keir Starmer to reconsider plans to change business rates to help pubs and hospitality businesses. The industry fears many pubs could close when reduced business rate relief ends in April. The government is in talks with the sector but has not yet detailed specific measures to address concerns.
Key Facts
Sir Keir Starmer is being asked to review planned business rate changes to support pubs and hospitality businesses.
Business rate relief discounts will drop from 75% to 40% and will end in April.
The Treasury has adjusted the rateable values for commercial properties, which might result in higher bills.
Labour MP Rachael Maskell highlighted concerns about significant business rate increases in York.
Chancellor Rachel Reeves previously reduced business rate relief in her November Budget.
The government says it is in discussions with the industry but hasn't provided specific solutions.
Some MPs suggest delaying reforms for a year or increasing the rates relief level.
The British Beer and Pub Association requested a "pub-specific" business rates relief to prevent closures and job losses.
The United States plans to control the sale of Venezuelan oil as it reduces restrictions on the country's crude in global markets. The U.S. government will oversee the sales expected to start with 30 to 50 million barrels of oil. President Trump intends to use the money earned from these sales to benefit both Venezuela and the U.S.
Key Facts
The U.S. has sanctioned Venezuelan oil for decades.
The U.S. will control the sale of Venezuelan oil "indefinitely."
Initial sales are expected to involve 30-50 million barrels.
Revenue from the sales will be managed by the U.S. government.
Venezuela has low oil production now, partly due to U.S. sanctions.
President Trump announced these plans on social media.
Increased oil flow from Venezuela could benefit U.S. refineries set up for heavy crude.
Oil prices have dropped slightly with the news of potential increased Venezuelan supply.
The government in the UK is proposing new rules for learner drivers, including waiting six months between the theory test and practical test. The goal is to improve driver safety by allowing more time to develop skills, but some young people feel this adds unnecessary barriers, especially with the current high costs and job challenges they face.
Key Facts
The government wants a six-month wait between the driving theory and practical tests for learner drivers.
This waiting period aims to help learners improve their driving skills.
Some young drivers, like Catherine from Bristol, worry it adds too many barriers when many need to drive for jobs.
Driving lessons can be expensive, contributing to financial strain for young people.
Catherine and others argue that this rule is unnecessary because current wait times for tests are already long.
Ryan from Reading supports more supervised driving but acknowledges high costs and accessibility issues.
The proposal also includes easier removal of drug-impacted drivers and mandatory eye tests for drivers over 70.
Jennifer from Liverpool notes that older drivers can also be risky and believes testing rules should apply to them as well.
The U.S. housing market is showing signs of improvement for 2026. Recent data suggests lower interest rates and a delay in tariffs could boost home sales and remodeling. Experts predict a slight growth in home building and a more stable market.
Key Facts
The U.S. GDP grew by 4.3% in the third quarter of the year.
The housing sector made up 16.1% of the GDP, with home building at 3.8%.
Average home values in the U.S. are $359,241, up by 0.1% over the year.
Interest rates fell slightly, with 10-year Treasury at about 4.2% and 30-year mortgage at 6.15%.
Tariffs on some furniture and cabinets are delayed until 2027, aiding future home sales.
The National Association of Home Builders forecasts growth in single-family homes and remodeling in 2026.
Builders are optimistic, with renewed construction permits and financial incentives.
The market is stabilizing with more inventory and price adjustments predicted for 2026.
Several offshore wind developers are taking legal action against the Trump administration after it paused five major projects on the East Coast due to national security concerns. The pause affects energy companies from Norway and Denmark, as well as projects in various U.S. states, who claim the decision could lead to project cancellations and financial losses. The administration cites concerns about military readiness and national defense as reasons for the suspension.
Key Facts
The Trump administration halted five offshore wind projects on the East Coast, citing national security concerns.
Companies involved, including Equinor and Orsted, are suing to resume their projects.
The suspension announced on Dec. 22 affects projects in New York, Rhode Island, Connecticut, Massachusetts, and Virginia.
Developers argue that the pause could lead to project termination and financial losses.
Connecticut and Rhode Island are seeking a court order to continue their Revolution Wind project.
Interior Department said the decision is to protect national security and prevent conflicts with military and maritime operations.
Dominion Energy Virginia was the first to file a lawsuit against the decision.
The article discusses how the banking industry needs to modernize its payment systems by using stablecoins, which are digital currencies linked to traditional currencies like the U.S. dollar. Currently, banks rely on older systems for cross-border payments, which are slower than blockchain technologies that promise faster settlement times. To stay competitive, banks need to improve their infrastructure to be more efficient than public blockchains.
Key Facts
Banks mainly use an old system called SWIFT for international payments, which is slow.
SWIFT does not directly move money; it sends messages that tell banks what to do with accounts.
Stablecoins are designed to transfer money almost instantly, with both instructions and value moving together.
Public blockchains have varying speeds; some are as slow as current bank systems.
Current bank systems require setting aside a lot of money for potential payment needs, which stablecoins could reduce.
Banks need new systems to use digital liquidity efficiently, potentially freeing up significant amounts of money.
Faster settlement times with stablecoins mean banks can operate globally without needing extensive banking relationships.
A council in the UK plans to classify beach huts as second homes, requiring owners to pay full council tax. The move aims to help the Bournemouth, Christchurch, and Poole (BCP) Council address a budget gap. Beach hut owners are questioning the legality of this plan, as the huts lack basic facilities like mains connections and toilets.
Key Facts
BCP Council wants to raise around £211,000 by classifying beach huts as second homes.
More than 300 hut owners at Mudeford Spit in Dorset will pay full council tax if the plan is approved.
Beach huts are simple structures without essential utilities like electricity or toilets.
The council is dealing with a £9 million budget shortfall and is exploring ways to increase revenue.
The council's finance official said they need to explore all possible revenue sources.
The estimated council tax for these huts could double from £618 to £1,236 yearly.
Beach huts in the area have previously sold for large sums, sometimes hundreds of thousands of pounds.
The proposal will be discussed by the council's cabinet on January 14.
Warner Bros is advising its shareholders to turn down Paramount's offer to buy the company, saying it's "inferior" compared to a previous agreement with Netflix. Paramount wants to buy all of Warner Bros, including TV channels, but the Warner Bros board supports selling the film and streaming parts to Netflix for $72 billion. Warner Bros criticized Paramount's offer for having too much debt and risking shareholder value.
Key Facts
Warner Bros is recommending shareholders reject a bid from Paramount to buy the company.
Paramount wants to purchase all Warner Bros entities, including TV channels.
Warner Bros supports a deal with Netflix for the film and streaming sections, worth $72 billion.
Paramount's offer is over $108 billion but involves a large amount of debt.
Warner Bros board claims Paramount's offer lacks shareholder protections.
Rejecting the Netflix deal would cost Warner Bros $2.8 billion.
Warner Bros says Paramount's market value is $14 billion but seeks $94 billion in debt financing.
The board argues the Netflix agreement has less risk and more certainty.
An energy drink company, ZOA Energy, is paying $3 million to settle claims that its drinks falsely advertised having "0 Preservatives." Customers who bought these drinks between specific dates can receive money back, but they need proof of purchase for higher amounts. The settlement must be approved by a court in March.
Key Facts
ZOA Energy agreed to pay $3 million due to claims about false advertising on their drink labels.
The company did not admit any wrongdoing but settled to resolve the allegations.
The allegations claimed ZOA Energy drinks with "0 Preservatives" labels actually contained ascorbic acid, a preservative.
Anyone who purchased the drinks from March 1, 2021, to November 21, 2025, can claim cash payments.
Without proof of purchase, customers receive $1 per drink, up to $10 per household.
With proof, up to $150 per household may be claimed.
Claims can be submitted until February 20, with final court approval scheduled for March 26.
Customers can opt out of the settlement if they wish to pursue individual lawsuits.
Warner Bros. rejected Paramount's takeover bid and advised shareholders to support Netflix's offer. Warner Bros. believes the Netflix deal offers more certainty and value, while Paramount's offer is seen as risky due to heavy debt. Paramount and Netflix aim to acquire different parts of Warner Bros., leading to various business implications.
Key Facts
Warner Bros. rejected Paramount's $77.9 billion takeover bid.
The company recommended shareholders accept Netflix’s $72 billion offer instead.
Warner Bros. cited concerns over debt in Paramount's offer.
Netflix wants only Warner's studio and streaming businesses; Paramount wants the whole company.
Both merger proposals may face regulatory reviews and antitrust scrutiny.
Paramount's CEO, David Ellison, received a $40.4 billion financial backing from his father, Larry Ellison.
Shareholders have until January 21 to decide on the offers.
Industry groups have expressed concerns about potential job losses and reduced diversity if either merger proceeds.
The U.S. Food and Drug Administration (FDA) has issued a Class I recall for various grated Pecorino Romano cheese products due to Listeria contamination risks. The recall involves products distributed across 22 states and affects over 11,500 units from several brands. No illnesses have been reported so far, and customers are advised to return or dispose of the affected cheese.
Key Facts
The recall was announced due to Listeria monocytogenes contamination.
It is a Class I recall, meaning it poses a serious health risk.
Products were distributed in 22 states, including Arizona, California, and New York.
The recall impacts 11,529 units of Pecorino Romano cheese.
Brands affected include Locatelli, Boar’s Head, and Member’s Mark.
Listeria is particularly dangerous for young children, pregnant women, the elderly, and those with weakened immune systems.
No illnesses have been reported by the FDA as of November 26, 2025.
Consumers should not eat the affected products and can return them for a refund.
Burger King introduced a new sandwich called the Ultimate Steakhouse Whopper on January 6 in the U.S. This sandwich, made from customer ideas, includes a beef patty, onion rings, bacon, mushrooms, Swiss cheese, and peppercorn aioli. Burger King also launched a limited-time dessert, Cinnamon Apple Pie, as a sweet addition to its menu.
Key Facts
Burger King launched the Ultimate Steakhouse Whopper on January 6.
The sandwich was developed through the "Whopper by You" program based on customer suggestions.
The new sandwich includes a beef patty, onion rings, bacon, mushrooms, Swiss cheese, and peppercorn aioli.
More than 600,000 customer ideas were submitted to the program to create this sandwich.
The "Whopper by You" program helps increase customer engagement and has driven sales growth.
Burger King also released a Cinnamon Apple Pie dessert for a limited time.
This customer-driven approach follows the BBQ Brisket Whopper and Crispy Onion Whopper, also developed from fan suggestions.
