The Supreme Court ruled that several tariffs put in place by President Donald Trump were illegal. This decision limits the President's power to impose tariffs without Congress. Businesses might get refunds for the tariffs they paid, but the process is uncertain.
Key Facts
The Supreme Court ruled 6-3 against many of President Trump's tariffs.
The court's decision stated these tariffs were imposed without needed congressional approval.
The ruling involved the International Emergency Economic Powers Act, which the administration used to set these tariffs.
There's a possibility that businesses could receive refunds for the tariffs they've already paid.
The court did not provide guidance on how refunds should be handled.
The decision affects trade deals and global business relations established by these tariffs.
Stock markets and precious metals showed a modest increase following the ruling.
President Trump may use other trade powers to replace the tariffs affected by this ruling.
The U.S. Supreme Court has invalidated President Trump's wide-ranging global tariffs, ruling that he was not authorized by law to impose them. This decision may lead to a refund of tariffs, benefiting small businesses and states that opposed the tariffs.
Key Facts
The Supreme Court ruled 6-3 against the tariffs imposed by President Trump.
The court said the law did not allow the president to impose these tariffs.
The ruling could result in hundreds of billions of dollars in tariff refunds.
Small businesses and states challenged the tariffs and won the case.
The Trump administration claimed the tariffs were justified as a response to national emergencies.
Several major restaurant chains, including KFC and Nando's, have decided to leave the Better Chicken Commitment, a plan that focused on improving chicken welfare by avoiding fast-growing chicken breeds. They joined a new industry-led plan called the Sustainable Chicken Forum, which aims to maintain chicken welfare while reducing environmental impact and meeting high demand.
Key Facts
KFC and Nando's, among others, have left the Better Chicken Commitment.
The Better Chicken Commitment aimed to improve chicken welfare by avoiding fast-growing breeds.
Animal welfare groups criticize fast-growing chickens due to health issues and a higher risk of premature death.
The restaurant chains joined the Sustainable Chicken Forum, which focuses on both animal welfare and environmental issues.
These businesses say slower-growing chicken breeds produce more greenhouse gases, affecting the environment.
Some retailers, like M&S and Waitrose, remain committed to the Better Chicken Commitment.
The move comes amid rising demand for chicken in the UK and industry concerns over costs.
The British Poultry Council welcomed the decision, citing concerns over production costs.
The U.S. Supreme Court ruled against President Trump's global tariffs, stating he did not have the power to impose them unilaterally. The decision affected Trump's trade strategy, which is key to his economic policies. President Trump disagreed with the ruling and said the court was influenced by "foreign interests."
Key Facts
The Supreme Court ruled 6-3 against President Trump's tariffs, saying he did not have the authority to impose them without Congress.
Chief Justice John Roberts wrote that the Constitution gives Congress the power to impose taxes, including tariffs.
Justices Neil Gorsuch and Amy Coney Barrett, both nominated by Trump, joined the majority ruling against the tariffs.
President Trump criticized the ruling, suggesting the court was influenced by foreign interests.
The ruling challenges Trump's economic strategy focused on using tariffs to boost American manufacturing.
Justice Brett Kavanaugh, also nominated by Trump, dissented, arguing that the tariffs were lawful.
The decision could prolong economic and political debates about trade policies.
President Trump plans to address the ruling and defend his trade policies in a press conference.
The Supreme Court ruled that President Donald Trump did not have the authority to impose new taxes on imports by declaring an economic emergency. This decision affects his tariff policies, which he had made a key part of his economic approach.
Key Facts
The Supreme Court decided President Trump could not declare an economic emergency to impose new tariffs.
Tariffs are taxes on goods imported from other countries.
President Trump used tariffs to try to bring jobs and factories back to the U.S.
He warned that removing tariffs might lead to economic problems in the U.S.
This ruling could increase uncertainty about trade leading up to the elections.
Tariffs were an important part of Trump's economic message to voters.
Global Counsel, a lobbying firm started by Peter Mandelson, has gone into administration. This happened after its clients left due to news about Mandelson's links to Jeffrey Epstein. The situation threatens 120 jobs, and the firm had already warned of major layoffs.
Key Facts
Global Counsel is a lobbying firm co-founded by Peter Mandelson.
The firm went into administration after losing key clients.
This loss was linked to Peter Mandelson's connection to Jeffrey Epstein.
The firm's closure could affect 120 employees.
Global Counsel has offices in Berlin, Brussels, Singapore, Washington DC, and Doha.
Peter Mandelson resigned from the firm's board in 2024 and was a shareholder until recently.
Benjamin Wegg-Prosser, co-founder and past CEO, left his position on February 6.
Information from Epstein-related documents played a role in the firm's problems.
Some U.S. states are considering raising taxes on the ultra-wealthy to address budget shortfalls. States like California, Connecticut, and Hawaii have proposed different measures to tax high-net-worth individuals and generate revenue for public services.
Key Facts
14 U.S. states are exploring ways to address projected budget deficits.
Some states propose higher taxes on the ultra-wealthy as a solution.
California plans to introduce a "Billionaire Tax Act" with a 5% tax on the wealthy to raise $100 billion.
Connecticut is considering a 1.75% surcharge on capital gains for high earners.
Hawaii proposed a 1% tax on net assets over $20 million.
The wealth gap in the U.S. has increased significantly, with calls for higher taxes on the rich.
Some fear higher taxes might drive wealthy residents to move to states with lower taxes.
Taiwan exported more goods to the United States than China did for the first time in recent decades, according to December data from the U.S. Department of Commerce. This shift is driven by Taiwan's semiconductor industry, which plays a key role in the global supply chain.
Key Facts
In December, U.S. imports from Taiwan were nearly $24.7 billion, a 22% increase from November.
U.S. imports from China during the same month were $21.1 billion.
The U.S. trade deficit with Taiwan was $146.8 billion in 2025, doubling the previous year’s figure.
The U.S. trade deficit with China was $202.1 billion, even with tariffs in place.
A recent trade agreement caps U.S. blanket tariffs on Taiwanese goods at 15%.
Taiwan Semiconductor Manufacturing Company plans to invest over $250 billion in the U.S.
Taiwan's economy grew by 8.63% in 2025, according to preliminary estimates.
President Trump plans to visit Beijing in April to discuss trade with China's President Xi Jinping.
Retail sales in the UK increased by 1.8% in January, driven by a rise in demand for sports supplements related to New Year's resolutions. Sales also benefited from online jewelry purchases. However, experts warn this growth might not last due to a weak job market and slow wage growth.
Key Facts
UK retail sales rose by 1.8% in January, according to the Office for National Statistics.
The increase in sales was partly due to a higher demand for sports supplements.
Online jewelry sales were boosted by recent increases in gold prices.
January's sales growth was the strongest since May 2024.
Online retail sales grew by 3.4% during the month.
The job market remains weak, with unemployment at a near five-year high.
Wage growth in the UK has slowed to 4.2%.
Economists caution the sales increase might be temporary due to economic pressures.
A video featuring a woman unboxing a vintage ring collection from a stranger's grandmother gained significant attention on social media. The standout piece was a reversible flip ring believed to be from the Avon jewelry brand. The global jewelry market, driven by factors such as rising incomes and digital platforms, continues to grow.
Key Facts
The video was posted on TikTok by user @generationalvintage on January 16.
The video showcasing vintage rings received over 1.4 million views.
The standout item in the collection was a reversible flip ring, likely from Avon.
Demand for jewelry is increasing, with global market value projected to rise to about $578.5 billion by 2033.
Factors driving this growth include higher disposable incomes, changing fashion tastes, and online shopping.
Consumers are increasingly interested in sustainable and ethically sourced jewelry.
Social media users expressed excitement over the unique designs, particularly the flip ring.
Economic growth in the U.S. slowed in the last three months of last year, partly due to a government shutdown and reduced consumer spending. The country's gross domestic product (GDP) increased by 1.4% in the fourth quarter, which was much less than the growth in previous quarters. The decline in government spending during the shutdown had a significant impact on growth.
Key Facts
U.S. economic growth was 1.4% in the fourth quarter of last year.
The federal government shutdown lasted six weeks and impacted economic growth.
Consumer spending grew by 2.4% in the fourth quarter, less than the 3.5% growth in the third quarter.
Federal government spending fell by nearly 17% during the shutdown.
The decline in government spending reduced GDP growth by one percentage point.
Companies increased imports earlier in the year to avoid tariffs, which affected trade figures in later quarters.
Inflation rose in December, with higher prices for goods like furniture and groceries.
President Trump commented that the shutdown cost the economy two percentage points in GDP growth.
KFC is reintroducing its limited-edition Bowl-o-Ties for a short period, starting February 20, exclusively on kfcshop.com. These ties previously sold out quickly and are now available again, with some reselling online for much higher prices. This is part of KFC's strategy to attract customers and increase sales amid economic challenges.
Key Facts
KFC is offering a restock of its Bowl-o-Ties starting February 20.
The ties are available only on kfcshop.com.
Previously, 100 units sold out in less than 48 hours.
The original price was $11, but they were reselling for between $20 and $300 on eBay.
KFC has previously released other novelty items like chicken-scented fire logs and chicken-printed crocs.
This marketing move aims to attract more customers as people are spending less.
KFC's competitors, like Zaxbys, are also releasing limited-time menu items.
In December, a key measure of U.S. inflation increased to its highest rate in nearly a year, rising 0.4% from the previous month and 2.9% from a year earlier. The Federal Reserve's preferred gauge, known as the PCE price index, showed higher inflation rates compared to the consumer price index due to different weightings of certain goods. The Federal Reserve chose not to change its interest rate in late January, despite calls for a reduction.
Key Facts
Inflation increased by 0.4% in December compared to November.
Inflation rose by 2.9% in December compared to the previous year.
Core prices, which exclude food and energy, also increased by 0.4% in December.
Core prices were 3% higher than the previous year.
The personal consumption expenditures (PCE) price index is preferred by the Federal Reserve for measuring inflation.
The Federal Reserve kept interest rates unchanged at around 3.6% in January.
Consumer spending rose by 0.4% in both November and December.
Prices for furniture, clothing, and groceries increased, while gas prices fell.
A report by the National Association of Realtors shows that Joplin, Missouri, and Amarillo, Texas, experienced the largest increases in people moving in over the past decade. While the overall trend in the U.S. shows a decline in domestic migration, these two cities attracted more movers due to affordable housing and job opportunities.
Key Facts
Joplin, Missouri, saw a 1.6% increase in domestic mobility between 2014 and 2024.
Amarillo, Texas, experienced a 1.4% rise in the same period.
The national domestic mobility rate dropped from 14.3% to 11% over the decade.
Amarillo's mobility rate in 2024 was 17.9%, significantly higher than the national average.
Joplin's rate was 13.2% in 2024.
The increase in domestic mobility in these cities contrasts with the national trend of declining relocation rates.
Other cities like Tuscaloosa, Alabama, and Salisbury, Maryland, also saw notable increases in domestic mobility.
Higher domestic mobility in cities often leads to more housing market activity, benefiting realtors and buyers.
The Supreme Court ruled against President Donald Trump's global tariffs, which were imposed using emergency powers. The decision, made by a 6-3 vote, is a setback to Trump's economic plans, particularly affecting tariffs applied to many countries.
Key Facts
The Supreme Court struck down Trump's global tariffs with a 6-3 decision.
The tariffs were imposed under an emergency powers law.
These tariffs affected nearly every other country.
This is the first major part of Trump's economic agenda reviewed by the Supreme Court.
Justices Samuel Alito, Clarence Thomas, and Brett Kavanaugh disagreed with the decision.
The case drew opposition from various political groups, including those that usually support the Republican Party.
Polls show that many people do not favor the tariffs and are concerned about rising costs.
A 58-year-old woman named Jennifer Schroeder was asked to train a younger, less-experienced employee who received a promotion over her. She declined, leading to tensions at her workplace and eventually receiving a severance package. Schroeder now advocates against age discrimination, using her experience to inspire others.
Key Facts
Jennifer Schroeder, aged 58, worked in the corporate world for over 20 years.
She was passed over for a promotion in favor of a 25-year-old with no experience.
Schroeder was asked to train the younger employee but refused.
Her refusal led to meetings with HR, and she eventually left the company with a severance package.
Age discrimination is common, with 64% of U.S. workers over 50 having experienced it.
Schroeder now shares her experiences on TikTok to support and guide others dealing with age bias in workplaces.
Videos related to her story have gone viral, attracting millions of views.
Age discrimination includes stereotypes about older employees being less tech-savvy and resistant to change.
Gasoline prices are expected to rise soon due to a combination of increased oil prices from tensions with Iran and seasonal changes in fuel production. Refineries switch to summer blends, which are more expensive to make, adding to the cost. Analysts also point out that while oil prices impact the market, regional issues at refineries contribute to varying gas prices.
Key Facts
Gasoline prices may rise as oil prices increase because of U.S.-Iran tensions.
Refineries start producing summer blends of gasoline in late February or early March, which cost more to make.
Maintenance and issues at specific refineries in the U.S. can affect local gas prices.
Current inventories of winter-blend gasoline help to temporarily keep prices lower.
Typical seasonal price increases range from 25 to 65 cents per gallon between late February and April-May.
Gas prices are currently low compared to the same time in previous years, starting from a lower point.
Political events, such as possible U.S. actions in Iran, could continue to influence oil markets.
A social media post describes a situation where a Generation Z employee at a formal company used a music festival photo as her email avatar, which led to a debate about professionalism. The employee did not want to change the photo, leading to her boss intervening to ensure company standards were met. This incident sparked a discussion on social media about generational views on workplace norms.
Key Facts
A Generation Z employee used a music festival photo as her company email avatar.
A colleague suggested replacing the photo with a more professional one, as per company standards.
The employee forwarded the email to her colleague’s boss instead of changing the photo.
The boss clarified that changing the photo was a company requirement and instructed the employee to comply.
Corporate image guidelines typically require professional headshots for client-facing communications.
Different generations have differing views on workplace formalities, with Gen Z often preferring more casual interactions.
The social media discussion included various opinions on professionalism and workplace norms.
The UK's government finances showed a significant surplus in January due to higher tax collections. This surplus was the largest recorded since 1993, exceeding expectations of financial analysts.
Key Facts
The UK government recorded a budget surplus of £30.4 billion in January.
This surplus is the largest ever for a month since 1993.
It was more than double the surplus from January of the previous year, which was £15.4 billion.
Analysts had predicted a surplus of £23.8 billion.
January typically sees higher tax collection than spending due to self-assessed tax contributions.
The Office for National Statistics (ONS) provided these financial figures.
Retail sales in January increased by 1.8% from December, according to ONS data.
Workers at the Jacobs Douwe Egberts (JDE) factory in Banbury, set to close this year, are being paid to volunteer at a local food bank. The company allowed teams of five workers to help the Banbury Breadline Project while they still receive their salaries, aiding community members in need.
Key Facts
The JDE factory in Banbury, Oxfordshire, is closing after being in operation for over 60 years.
Workers scheduled to lose their jobs are volunteering at the Banbury Breadline Project food bank.
JDE continues to pay these workers while they volunteer.
The food bank sees about 200 people a week and operates three days a week.
The factory, originally a General Foods plant, faced closure due to high maintenance costs.
The plant will close by the end of 2026.
JDE plant closure affects about 160 employees.
Volunteering at the food bank helps community members and gives workers a chance to contribute locally.
