The U.S. Postal Service (USPS) has decided to raise shipping prices in January 2026 to improve its financial situation after losing $9 billion in 2025. The proposed increases, which affect various shipping services, aim to generate more revenue without changing first-class stamp prices. The changes are pending review and approval by the Postal Regulatory Commission.
Key Facts
USPS plans to increase shipping prices starting January 18, 2026.
The proposed price hikes include 6.6% for Priority Mail and 5.1% for Priority Mail Express.
USPS faced a $9 billion loss in fiscal year 2025 despite a slight revenue increase.
Operating revenue for 2025 was $80.5 billion, up 1.2% from the previous year.
USPS operates without direct taxpayer funding and relies on postage and shipping sales.
The Postal Regulatory Commission will review the proposed price changes.
Some mail services, like first-class stamps, will not see a price increase in January 2026.
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The original founders of Hooters have regained control of the restaurant chain, aiming to restore its family-friendly image. They plan to address financial issues and move away from the brand's recent oversexualized image by focusing on the dining experience and maintaining a beach-themed aesthetic.
Key Facts
The founders have taken back control of the chain from Hooters of America (HOA).
HOA previously went bankrupt due to $376 million in debt.
The new ownership includes Hoot Owl Restaurants LLC and covers 140 of 198 U.S. locations.
The total sales from these locations are about $700 million, including 60 international sites.
The founders plan to change the brand's image away from an oversexualized image.
Immediate changes will include better food quality and a simplified menu.
Some restaurant locations might close if they can't be financially saved.
The goal is to return to a "neighborhood hangout with a beach theme."
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Congress included a rule in a new spending bill that makes many hemp products illegal. This affects businesses and state programs that depend on hemp sales. The change will be enforced starting in late 2026, giving time for adjustments.
Key Facts
Congress passed a spending bill that ended a government shutdown but included a rule against hemp products.
The rule makes many hemp-derived products with THC illegal, reversing some parts of the 2018 Farm Bill.
The hemp industry is valued at around $28 billion and provides about 300,000 jobs.
Some states use taxes from hemp to support public services like addiction treatment and health programs.
There is a one-year delay before the hemp ban takes effect to allow for regulation and debate.
Sen. Rand Paul opposed the rule, saying it harms businesses and farmers.
Since 2018, hemp-based beverages sales are set to grow significantly, according to industry estimates.
The hemp ban could impact small businesses and industries that have relied on these products.
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President Trump’s administration has removed tariffs on several food items, such as coffee, some fruits, and orange juice. This change aims to ease the cost of groceries, which became more expensive due to the tariffs.
Key Facts
Tariffs have been removed from items like coffee, beef, and tea.
Other items that are no longer taxed include tropical fruits like mangoes, bananas, and pineapples.
Spices such as coriander, cumin, and turmeric are also exempt from tariffs.
The removal of tariffs is meant to help reduce grocery costs for consumers.
The high tariffs had previously contributed to a perception of economic strain regarding President Trump's economic policies.
Despite the tariff removal, other factors like climate risks and labor shortages continue to affect food prices.
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Former Federal Reserve governor Adriana Kugler was investigated for possibly breaking stock trading rules. These rules are meant to stop top Fed officials from trading stocks around the time of important Fed meetings. Her resignation created an opportunity for President Trump to appoint a new official.
Key Facts
Adriana Kugler, a former Federal Reserve governor, was under investigation for violating stock trading rules.
She resigned from the Fed in August, leaving a vacancy for President Trump to fill.
Kugler's financial disclosures showed she or her husband traded stocks during restricted periods.
The Fed has a rule against trading individual stocks or making short-term trades by top officials or their family members.
Kugler’s request for permission to handle certain investments before a Fed meeting was denied.
Kugler did not attend or vote at the Fed policy meeting in late July.
The Fed's ethics office referred Kugler's case to an independent watchdog for review.
President Trump appointed Stephen Miran to replace Kugler on the Fed Board of Governors.
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Pittsburgh is recognized as the most affordable large city for housing in the U.S., with a median home price significantly below the national average. The city offers a strong job market and homeownership incentives, making it attractive to homebuyers.
Key Facts
Pittsburgh is named the most affordable large city for housing in the U.S.
Median home price in Pittsburgh is $250,000, over $150,000 below the national average.
The city's homeownership rate is 69.5%, higher than the national average.
Pittsburgh has a strong job market, especially in technology, healthcare, and robotics.
There are incentives and grants available to help first-time homebuyers with costs.
Pittsburgh's population increased by over 4,700 residents since 2020.
There are 5,842 homes for sale in Pittsburgh, providing buyers with many options.
Other affordable cities include Decatur, Illinois, and Enid, Oklahoma, but they have smaller job markets compared to Pittsburgh.
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Retailers are lowering turkey prices to attract customers during Thanksgiving, despite higher grocery costs. The supply of turkeys is under pressure from a small national flock and avian flu outbreaks. Major grocery chains are using discounts to compete and keep customers, while smaller stores feel financial strain.
Key Facts
Thanksgiving turkey prices are being cut by retailers to attract customers.
Grocery prices are about 30% higher than they were before the pandemic.
The U.S. turkey population is the smallest in 40 years, affected by avian flu in states like Minnesota.
The National Turkey Federation assures there will be enough turkeys for Thanksgiving.
Wholesale prices for turkeys are rising, but retail prices for consumers are dropping.
Major chains like Walmart, Aldi, and Kroger are using turkeys as "loss leaders" to attract shoppers.
Aldi offers a Thanksgiving meal for 10 people at $40, cheaper than last year.
Smaller grocery stores are struggling financially due to these low-price strategies.
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Disney and YouTube TV reached a new distribution agreement after a two-week blackout. This deal restores ESPN, ABC, National Geographic, and other Disney-owned channels to YouTube TV, impacting over 8 million subscribers. The agreement allows YouTube TV users to access Disney's full range of networks and includes ESPN's new service at no extra cost.
Key Facts
Disney and YouTube TV had a two-week blackout starting October 30.
The blackout affected major sports and news programming for over 8 million YouTube TV subscribers.
Many subscribers considered canceling their service if the blackout continued.
The new agreement gives YouTube TV access to Disney's complete range of channels.
YouTube TV subscribers will receive ESPN's new service without extra charges.
Some Disney streaming services, like Disney+ and Hulu, will be part of specific YouTube TV packages.
The dispute highlighted challenges in digital pay-TV distribution agreements.
Similar issues occurred with NBC and YouTube TV earlier this year.
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Tariffs on imported goods could make holiday gifts more expensive for American shoppers in 2025. A study found that these tariffs might add $28.6 billion to the costs of holiday purchases, especially affecting electronics and clothing. President Trump's tariff policy aims to benefit the country long-term, but consumers may feel the immediate burden.
Key Facts
Tariffs could add $28.6 billion to holiday shopping costs compared to last year.
On average, each shopper might spend an extra $132 on gifts due to tariffs.
Electronics and clothing are the categories with the highest increase in costs.
In 2024, imported goods made up $377.7 billion of holiday purchases.
88% of clothing and nearly 69% of electronics came from overseas.
U.S. tariffs on goods from countries like China and Vietnam are higher than in many other nations.
The effective U.S. tariff rate in the study is 17.8%, with 70.5% of those costs passed to shoppers.
President Trump's policy aims to bring jobs back but may raise prices for consumers in the short term.
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A California couple is upset with Delta Air Lines because the airline refused to extend their unused upgrade certificates. The couple asked for an extension due to the tragic death of their daughter in a plane crash, but Delta cited their policy of not making exceptions.
Key Facts
The couple's daughter, Emma Huke, died in a plane crash on May 22 near San Diego.
Tim and Allison Huke wanted to extend their Delta upgrade certificates because the loss made them unable to travel.
Tim Huke has been a loyal Delta customer for 28 years, flying over 1.2 million miles.
The couple had planned a family trip to Spain and Portugal using the upgrade certificates.
Delta Air Lines declined the request to extend the upgrade certificates, sticking to their program guidelines.
The Hukes shared their story on social media, gaining widespread attention.
Delta confirmed they acknowledged the customer's request and are in touch with them.
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A federal bankruptcy judge plans to approve a settlement deal with Purdue Pharma, the maker of OxyContin, to resolve thousands of lawsuits related to the opioid crisis. The settlement involves the Sackler family providing up to $7 billion over 15 years, with funds going to victims. This deal replaces an earlier one rejected by the US Supreme Court.
Key Facts
A bankruptcy judge is set to approve a settlement concerning Purdue Pharma and the Sackler family.
The Sackler family will contribute up to $7 billion over 15 years.
Money from the settlement will go to victims of the opioid crisis.
The deal replaces a previous one rejected by the US Supreme Court last year.
The new agreement allows entities who don’t opt in to sue the Sackler family.
The deal addresses a series of lawsuits brought by governments against drug companies over opioids.
Over 54,000 personal injury victims voted on the plan, with only 218 voting against it.
Lawyers and government groups largely support the bankruptcy plan, although some individuals oppose it.
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President Donald Trump signed an order to remove tariffs on many food items like coffee, bananas, and beef. This decision was made in response to rising prices, which have been a concern in recent elections.
Key Facts
President Trump removed tariffs on many food products.
The list includes items such as coffee, bananas, beef, avocados, tomatoes, coconuts, and mangoes.
The order aims to address rising prices.
Trump's administration stated these foods cannot be produced in enough quantities in the U.S.
The decision follows a poor performance by Trump’s party in recent elections.
More details about the decision will be provided later.
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Blue Islands, an airline based in the Channel Islands, has stopped trading and cancelled all future flights. The airline advised passengers not to go to airports unless they have other travel plans. The company employed about 100 staff and had borrowed money from the Government of Jersey during the pandemic.
Key Facts
Blue Islands has suspended trading and cancelled all future flights.
The airline advised passengers to contact banks for refunds if they booked directly or to reach out to partner Aurigny for certain bookings.
The airline served destinations in the British Isles, Bruges, and Paris.
Blue Islands employed around 100 people.
The company borrowed £8.5 million from the Government of Jersey during the COVID-19 pandemic, with £7 million still owed.
Blue Islands was established in 2006, originally starting as Le Cocq's Air Link in 1999.
The brand evolved in March 2020, expanding its flight routes.
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The two-child benefit cap is a rule that limits welfare benefits to families with more than two children. The policy was introduced in 2017 and affects families receiving universal credit or tax credits, not child benefits. Chancellor Rachel Reeves has suggested possible changes in this system during the upcoming Budget.
Key Facts
The two-child benefit cap limits financial support for families who have more than two children.
This policy applies to children born after April 6, 2017.
About 1.6 million children live in families affected by this cap.
The cap saves the UK Treasury approximately £3.6 billion a year.
Universal credit and tax credits are the affected benefits, not child benefit.
There are exceptions, like twins, or children born from rape or coercive relationships, who can still receive benefits.
More than 100 charities and some Labour MPs have called for the cap to be removed to help reduce child poverty.
The chancellor hinted at possible Budget changes to the cap, including partial payments or adjustments to reflect family size.
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Chancellor Rachel Reeves considered raising income taxes but decided not to after better economic forecasts reduced the budget gap. The plan included a simultaneous cut in National Insurance, but newer projections showed improved tax receipts from wages, leading her to abandon the tax change proposal. The decision affected financial markets, with government borrowing costs briefly rising, but the chancellor aims to keep borrowing within set limits.
Key Facts
Rachel Reeves, the Chancellor, considered raising income taxes but decided not to after new economic forecasts.
The initial plan included increasing income taxes by 2 pence while cutting National Insurance by 2 pence.
The plan aimed to address a £30 billion gap in public finances.
New forecasts reduced this gap to about £20 billion due to expected stronger wages and tax receipts.
Financial markets reacted with increased borrowing costs for the government upon news of dropped tax plans.
By the end of the week, borrowing costs had risen slightly due to ongoing market concerns.
The chancellor plans to maintain borrowing within limits and might extend a freeze on tax thresholds to raise additional revenue.
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Disney and Google reached a new deal two weeks after their previous agreement ended, restoring Disney-owned channels like ABC and ESPN to YouTube TV. This deal also offers YouTube TV subscribers access to ESPN's new direct app, which includes major sporting events. Subscribers experienced a service disruption, missing important sports games.
Key Facts
Disney and Google made a new agreement to restore channels on YouTube TV.
Channels like ABC, ESPN, and FX were unavailable to subscribers for two weeks.
The agreement happened right before a big weekend of college football games.
YouTube TV subscribers now also get access to ESPN's new direct app.
The app includes major events, like WWE's WrestleMania, as part of YouTube TV's service.
YouTube TV subscribers generally pay over $80 a month for the service.
The channel outage affected subscribers' ability to watch popular sports events.
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A bankruptcy judge approved a $7.4 billion settlement involving Purdue Pharma and its owners, the Sackler family, for their part in the opioid crisis in the United States. The deal requires the Sacklers to give up company ownership, and a nonprofit will replace Purdue Pharma to focus on addressing the opioid crisis. The settlement aims to provide funds for opioid addiction treatment and prevention programs.
Key Facts
A judge approved a $7.4 billion settlement for Purdue Pharma and the Sackler family.
The settlement deals with the company's role in the U.S. opioid crisis and aims to provide funds for addiction treatment and prevention.
Purdue Pharma filed for bankruptcy in 2019, facing lawsuits claiming it contributed to the opioid epidemic.
The Sacklers must give up ownership of the company under this deal.
A nonprofit named Knoa Pharma will take over Purdue's role with a focus on the opioid crisis.
The U.S. Supreme Court had rejected a prior deal offering the Sacklers protection from future lawsuits.
Individuals and government groups mostly support the deal, which will fund local and state opioid recovery efforts.
Purdue admitted to criminal charges in a 2020 case but still faced other lawsuits leading to this settlement.
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The United States plans to lower tariffs on goods from Switzerland from 39% to 15% under a new trade agreement. Swiss companies will invest $200 billion in the U.S. by 2028. The new tariffs will equal rates for the European Union and are set to take effect soon.
Key Facts
The U.S. will cut tariffs on Swiss goods to 15% from a previous rate of 39%.
Swiss companies have pledged to invest $200 billion in the United States by the end of 2028.
About 40% of Swiss exports will benefit from the new lower tariffs.
The tariff reduction aligns with the rates for European Union countries.
The U.S., Switzerland, and Liechtenstein aim to finalize their trade agreement by early 2026.
The tariff cuts are expected to start once U.S. customs systems are updated.
Swiss investments will focus on manufacturing sectors like pharmaceuticals and life sciences.
Switzerland will offer duty-free quotas on certain U.S. meats, including beef and poultry.
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A bankruptcy judge is set to approve a settlement deal for Purdue Pharma related to opioid lawsuits. In other news, Charlotte is preparing for more federal agents due to an immigration enforcement plan, and the Trump administration will not require airlines to compensate for flight delays.
Key Facts
A federal bankruptcy judge is reviewing a settlement deal for Purdue Pharma.
The settlement is related to lawsuits about the harm caused by opioids.
President Trump is planning to increase federal agent presence in Charlotte to enforce immigration rules.
The Trump administration has decided not to mandate airlines to pay passengers for delays caused by the airlines.
The decision on airlines affects how they handle compensation for flight disruptions.
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President Donald Trump signed an order removing tariffs on beef, coffee, and tropical fruits to address high consumer prices. This decision followed recent elections where voters highlighted economic concerns, and the U.S. has made agreements with several countries to ease import taxes on these products.
Key Facts
President Trump removed tariffs on beef, coffee, and tropical fruits.
This action responds to consumer complaints about high prices.
Recent elections showed voters were worried about economic issues.
The U.S. made deals with Ecuador, Guatemala, El Salvador, and Argentina to lower import taxes.
Trump wants to increase coffee imports by lowering tariffs.
Beef prices in the U.S. are a significant concern, partly due to tariffs on Brazil.
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