The ADP jobs report shows that the U.S. private sector lost about 32,000 jobs in September. Some sectors like leisure and hospitality saw job losses, while others like education and health services gained jobs. This report has sparked criticism of President Trump, though experts caution that the ADP data may not be as reliable as the official BLS data.
Key Facts
The ADP report says the U.S. lost over 30,000 private sector jobs in September.
The report shows a drop from around 134,558,000 jobs in August to 134,526,000 in September.
Leisure and hospitality, and professional services saw the biggest job losses.
Education and health services sectors reported more job openings.
Some economists warn that ADP's numbers might not match official BLS data.
Critics of President Trump link the job losses to his policies, though experts caution against drawing conclusions without official data.
The government shutdown might delay the Bureau of Labor Statistics' official report.
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A new report from Bankrate reveals that one in six aspiring homebuyers has given up on purchasing a home due to high prices and unaffordable mortgage rates. The report highlights that many potential buyers, especially younger generations, feel priced out of the market, which affects overall homeownership rates. This trend has implications for wealth accumulation and the generational shift towards permanent renting.
Key Facts
16% of aspiring homebuyers have given up on buying a home in the last five years.
High home prices, low supply, and high mortgage rates are the main reasons for this trend.
28% of potential buyers cite local home prices as the most important factor in their decision not to buy.
Gen Z feels particularly priced out, with 54% believing older generations had better opportunities.
Millennials are the most likely to give up homebuying, with 22% unable to find affordable homes.
To afford a typical U.S. home, a household needs nearly $117,000 in annual income.
There is a risk of creating a generation of people who never own homes, which affects wealth accumulation.
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The U.S. government is obtaining a 5% stake in Lithium Americas, which is working on the Thacker Pass lithium mining project in Nevada. This move aims to reduce U.S. dependence on China for lithium, a key material for batteries in electric vehicles. The project is expected to produce enough lithium to support 800,000 electric vehicles annually.
Key Facts
The U.S. Department of Energy will take a 5% stake in Lithium Americas and the Thacker Pass project.
Thacker Pass is a joint venture with General Motors.
The project aims to decrease U.S. reliance on China for lithium, crucial for high-tech batteries.
In the first phase, Thacker Pass plans to produce 40,000 metric tons of lithium annually.
General Motors is investing over $900 million in Thacker Pass.
The deal includes a $435 million federal loan, with some debt service deferred for five years.
Lithium Americas' stock increased by over 30% after the announcement.
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In 2025, large corporate bankruptcies in the U.S. are rising, mainly due to inflation, high interest rates, and regulatory uncertainty. A report notes 32 mega bankruptcies—companies with over $1 billion in assets—occurred in one year, the highest on record since the pandemic began. Companies cite reduced demand and higher costs as key factors for Chapter 11 filings.
Key Facts
In 2025, the U.S. saw 32 mega bankruptcies, surpassing the two-decade average of 23.
17 mega bankruptcies took place in the first half of 2025.
Companies filing for bankruptcy often blame high inflation and interest rates.
Notable bankruptcies include firms in the healthcare and retail sectors, like Rite Aid.
Personal bankruptcies also increased by 11.8% compared to the previous year.
Policy uncertainty, especially in renewable energy and trade, affects corporate stability.
The retail chain At Home filed for bankruptcy citing tariff-related challenges.
117 bankruptcy filings involved companies with assets over $100 million in the past year.
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Walmart announced plans to remove artificial colors and other additives from its store brand products in the U.S. by January 2027. The change will affect about 1,000 products, including snacks and beverages, aiming to meet consumer demand for fewer additives. Walmart's initiative includes removing certain preservatives, sweeteners, and chemicals that have raised health concerns.
Key Facts
Walmart plans to eliminate artificial colors and other additives from store brands by January 2027.
The changes will affect about 1,000 products like snacks, baked goods, and drinks.
Walmart targets synthetic dyes, preservatives, and artificial sweeteners for removal.
Some additives, such as certain synthetic dyes, are already banned or not widely used in the U.S.
The initiative involves Walmart's Great Value, Marketside, and Freshness Guaranteed brands.
The move responds to consumer demand for cleaner labels on food products.
Other major companies, like Kraft Heinz and Nestle, are also removing synthetic dyes.
Health advocates have raised concerns about some of the additives Walmart plans to eliminate.
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Saudi Arabia's Public Investment Fund (PIF) plans to buy the gaming company Electronic Arts (EA) for $55 billion. PIF is investing along with partners Silver Lake and Affinity Partners. This acquisition is part of Saudi Arabia's efforts to expand its influence in the gaming industry.
Key Facts
Saudi Arabia's Public Investment Fund (PIF) leads a consortium to acquire Electronic Arts (EA) for $55 billion.
The consortium includes Silver Lake and Affinity Partners, led by Jared Kushner.
Saudi Arabia has invested in other areas, such as sports teams and events, drawing scrutiny related to their broader goals.
PIF previously owned about 9-10% of EA.
EA creates popular video games like Apex Legends, FIFA (now EA Sports FC), and The Sims.
The deal means EA will become a private company, with all public shares being bought.
The acquisition reflects Saudi Arabia's strategic move to control and influence the gaming industry.
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The BET Hip Hop Awards, a prominent event for the hip-hop community, has been suspended and removed from cable television, reportedly due to declining viewership. This change comes amid Paramount Global's sale to Skydance Media, which includes the elimination of diversity, equity, and inclusion (DEI) efforts. The suspension occurs during a shift in corporate focus away from DEI initiatives.
Key Facts
The BET Hip Hop Awards has been suspended and is no longer airing on cable TV.
The show's viewership dropped by nearly 50% in 2024, leading to its suspension.
Paramount Global, the parent company of BET, was sold to Skydance Media.
The sale agreement involved ending all DEI initiatives at Paramount.
DEI stands for diversity, equity, and inclusion, which are efforts to support representation and equal opportunities within companies.
BET's CEO described the change as a suspension, not a cancellation.
The merger was approved after Paramount settled a lawsuit for $16 million.
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E.J. Antoni, President Trump's nominee to lead the Bureau of Labor Statistics (BLS), has withdrawn from consideration after facing criticism for lacking experience and being too partisan. The BLS, important for its economic reports, is currently affected by a government shutdown. Trump plans to announce a new nominee soon.
Key Facts
E.J. Antoni withdrew his nomination to lead the Bureau of Labor Statistics.
The nomination faced criticism for being partisan and for Antoni's lack of experience.
The BLS provides important economic data, like jobs and inflation reports.
President Trump fired the previous BLS commissioner, Erika McEntarfer, after a jobs report he disliked.
A group urged for a nominee with strong technical skills and non-partisan experience.
The BLS operations are on hold due to a government shutdown.
The BLS has reduced its workforce by about 20% this year.
Trump plans to announce a new nominee soon.
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Portugal has approved a special investment fund targeting U.S. citizens for its golden visa program. This program lets wealthy individuals obtain residency in Portugal by making financial investments. There has been a significant increase in interest from Americans seeking this opportunity.
Key Facts
Portugal launched a golden visa fund specifically for U.S. citizens.
The fund is for wealthy Americans wanting to invest in Portugal.
Interest in Portugal's golden visa program from U.S. citizens has risen sharply.
The LXL Ventures fund addresses the interest of U.S. investors during economic uncertainties.
Previously, few Americans applied for golden visas in Portugal, but they are now the largest group.
A golden visa offers residency in exchange for investments like real estate or business ventures.
The Portugal Golden Residence Permit Program requires investments starting at €250,000.
The program allows golden visa holders to travel within the European Union.
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Saudi Arabia's Public Investment Fund is buying Electronic Arts, a major video game publisher, for $55 billion. This deal, involving Jared Kushner’s private equity firm, is the largest-ever leveraged buyout of a public company. It marks a significant move by Saudi Arabia to expand its influence in the global gaming industry.
Key Facts
Electronic Arts is a top video game publisher known for popular games like FIFA, Madden NFL, and The Sims.
Saudi Arabia’s Public Investment Fund (PIF) is leading a $55 billion deal to acquire Electronic Arts.
This acquisition is the largest leveraged buyout of a publicly traded company in history.
Jared Kushner's firm, Affinity Partners, is involved in the transaction.
PIF plans to invest $38 billion in the gaming sector by 2030.
Saudi Arabia already has stakes in other gaming companies and recently acquired Niantic's gaming division.
Critics say this move is part of a broader strategy to improve Saudi Arabia's global image through sports and gaming investments.
The acquisition aligns with Saudi Arabia's Vision 2030 plan to diversify its economy away from oil.
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Chocolate prices have increased, affecting how much American households plan to spend on Halloween candy. Despite overall Halloween spending expected to reach record levels, many people are adjusting their budgets to account for higher chocolate prices. Cocoa shortages and rising production costs contribute to the price hikes.
Key Facts
Chocolate prices are leading 57% of Americans to reconsider their Halloween candy budgets.
A survey found that 52% of people plan to cut back on Halloween spending due to higher costs.
The average American household expects to spend $296 on Halloween, with $58 for candy.
The cost of fun-size chocolate bars has increased by about $5 compared to last year.
Cocoa prices have risen because of weather issues and diseases affecting supply in West Africa.
Hershey’s has announced price increases for its chocolate due to high cocoa costs.
Cocoa futures in New York recently dropped to an 11-month low as supplies improved.
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The Supreme Court has temporarily stopped President Trump's attempt to remove Federal Reserve Governor Lisa Cook from her position. This decision allows Cook to keep her job until the case is heard in January, highlighting the court's consideration of limits on presidential power over independent agencies like the Federal Reserve.
Key Facts
The Supreme Court blocked President Trump's attempt to fire Federal Reserve Governor Lisa Cook.
Cook remains in her position until the court hears the case in January.
The decision underscores the importance of central bank independence from political interference.
President Trump has been pressuring the Federal Reserve to lower interest rates.
Trump has appointed others who support his interest rate policies to the Federal Reserve.
A Trump ally accused Cook of making false statements, which she denies.
The Supreme Court has allowed Trump more influence in other government agencies.
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Greggs, a well-known UK bakery chain, will raise its prices for the third time this year due to increasing costs, particularly from higher staffing expenses like National Insurance. Despite the higher costs, Greggs plans to continue expanding its number of stores and sees opportunities for growth in various locations across the UK.
Key Facts
Greggs will increase prices for some items starting tomorrow, including breakfast meal deals, which will rise by 20p.
This price increase is primarily due to higher staffing costs, including a £20 million unexpected increase in National Insurance.
It is the third time Greggs has raised its product prices this year.
Despite price increases, Greggs will continue opening new shops, with plans for 120 new sites by 2025.
The popular sausage roll price will stay the same for now, as it was already increased earlier this year.
Greggs has over 3,000 shops in the UK and plans further expansion, especially in southern England and retail parks.
The company expects some cost pressures to ease next year but is cautious about potential changes in the upcoming government Budget.
Sales fell during a summer heatwave but improved in August and September, with an overall year-to-date sales increase of 6.7% compared to last year.
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Oreo and Reese's have released new treats combining their flavors. Shark introduced a new product that functions as both a fan and a heater. Dove launched a cooling spray for skin that offers long-lasting odor control.
Key Facts
Oreo and Reese's created new sweet treats, including chocolate snacks with peanut butter and Oreo pieces.
Shark released a product called TurboBlade Cool + Heat, which acts as both a fan and a heater.
Dove's new cooling spray provides 72-hour odor control and is free of aluminum and parabens.
The products covered in this week's Newsweek series are part of a feature highlighting new consumer products.
Tyson introduced Mini Dino Nuggets, chicken patties in the shape of dinosaurs, aimed at kids.
The series features various categories including food, beauty, and household products, aiming to keep consumers up-to-date with new trends.
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A company linked to Baroness Mone has been ordered to pay £122 million because it did not meet a government contract requirement. The contract involved the supply of medical gowns during the Covid pandemic, which did not meet the necessary healthcare standards.
Key Facts
A company linked to Baroness Mone and her husband must pay £122 million in damages.
The company is called PPE Medpro.
The damage payment is due to breaching a government contract.
The contract was for supplying personal protective equipment (PPE) during the Covid pandemic.
The Department of Health and Social Care claimed the gowns did not meet healthcare standards.
The High Court found the gowns had not undergone a validated sterilization process.
PPE Medpro received the contract through a special VIP lane in 2020.
Baroness Mone recommended the company for the contract.
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October is expected to continue being a strong month for stock investors, as the fourth quarter often brings stock market growth. Historically, the final quarter of the year shows positive results, and this year, stocks have already shown unexpected gains despite usual seasonal weaknesses.
Key Facts
The fourth quarter is typically the best for stock performance, showing growth 80% of the time since 1950.
Historically, the average stock gain in the fourth quarter is 4.2%, almost double the first quarter's average gain of 2.2%.
The S&P 500 index increased in September, marking its fifth month of gains.
Although usual weaknesses in fall did not occur, some investors express concern about potential complacency risks.
Market challenges include evolving tariffs, labor market weaknesses, and slowing growth in Big Tech earnings.
Despite warnings of potential market volatility, stock prices continue to rise.
Portfolio managers are encouraged to stay in the market to match the S&P 500's performance.
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The U.S. government's shutdown has caused delays in important economic reports. This affects information on jobs and inflation, making it harder for businesses and decision-makers to understand the economy's status.
Key Facts
The U.S. government's shutdown has stopped the publication of a major job market report.
Another report on inflation, crucial for Social Security adjustments, may also be delayed.
The shutdown affects the Labor Department, which collects and processes economic data.
A previous shutdown in 2013 delayed key reports for over two weeks.
Recent government data showed job cuts in June for the first time since 2020.
The unemployment rate rose to 4.3% in August, the highest in nearly four years.
Concerns about the job market have led the Federal Reserve to cut interest rates.
Inflation data, partly influenced by tariffs, was scheduled for release on October 15.
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England is banning "buy one, get one free" deals for unhealthy food and drinks starting this Wednesday. The goal is to reduce obesity rates, especially among children. Additional restrictions on advertising these products will also begin soon.
Key Facts
England is banning promotions like "buy one, get one free" for unhealthy foods and drinks.
The ban applies to supermarkets, larger stores, and online retailers.
Free refill promotions in restaurants and cafes will also be prohibited.
Advertisements for unhealthy food cannot be shown on TV before 9 PM starting in January.
Obesity rates in England are high, with over a quarter of adults and a fifth of children classified as obese.
The government has created a system to identify what foods and drinks are considered unhealthy.
Some large retailers have already stopped using these types of promotions.
The ban aims to encourage healthier eating by limiting the promotion of unhealthy products.
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The article discusses concerns about potential risks in the cryptocurrency market, linking them to actions by Donald Trump. It claims that Trump's involvement has led to significant deregulation and financial gains for himself and his associates. This has reportedly increased the cryptocurrency market's size, which may pose economic risks.
Key Facts
Former President Donald Trump was initially critical of cryptocurrency.
Trump allegedly received financial benefits from the cryptocurrency sector after altering his stance.
Trump is said to have influenced U.S. regulations to aid the crypto industry by firing key officials and pardoning convicted individuals from the sector.
Trump's family reportedly amassed a significant fortune in cryptocurrency.
A Gulf State, the United Arab Emirates, reportedly invested in Trump's crypto operations.
Changes in crypto regulations may have led to a substantial increase in the global cryptocurrency market.
Cryptocurrency remains linked to fraudulent activities and market instability.
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A university in the UK is raising concerns about "unlimited" energy contracts for students, claiming these deals are more expensive than traditional ones. Research by Reading Students' Union found that students with these contracts pay much more on average. Some energy providers disagree with the findings and highlight that their contracts offer stability.
Key Facts
Reading Students' Union claims "unlimited" energy contracts cost students about £2,200 more per year.
The Students' Union has started an Energy Advice Service to help students understand energy costs.
Two providers of these contracts argue the findings are incorrect and advise students to explore their options.
The research shows students might pay up to £3,280 more with unlimited contracts compared to standard ones.
Quotes were collected from nine unlimited providers and compared with traditional energy suppliers like British Gas and EDF.
A typical four-bedroom house's utilities in Reading would cost around £223 per month with standard contracts.
Contract prices for unlimited energy packages are reported at an average of £408 per month.
Some students regret choosing unlimited contracts and advocate for more awareness on energy costs.
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