Several clothing retailers announced plans to open new stores across the United States in 2026. Brands like Nordstrom Rack, J.H. & Sons, and Uniqlo are expanding, adding more locations as part of their growth strategies. These plans come amid broader economic challenges but reflect optimism about sales and consumer interest.
Key Facts
Nordstrom Rack plans to open 21 new stores in different cities during 2026.
J.H. & Sons will open a new location in Kansas City, Missouri.
Uniqlo plans to add 11 new stores across seven U.S. cities in spring and summer 2026.
Uniqlo currently operates 78 stores in the United States.
Retail experts note a trend toward larger retailers buying smaller brands and a rise in private-label clothing.
Economic pressures like inflation have led consumers to seek more affordable shopping options.
The Powerball lottery held a drawing on Christmas Eve for an estimated $1.817 billion jackpot, which is the second-largest in U.S. history. The drawing took place in Tallahassee, Florida, and it was not immediately clear if anyone won. The cash value of the jackpot is estimated to be $781.3 million.
Key Facts
The Powerball jackpot reached an estimated $1.817 billion for the Christmas Eve drawing.
This jackpot is the second-largest in the history of U.S. lotteries.
The winning numbers for the drawing were 4, 25, 31, 52, 59, and a red Powerball of 19.
It wasn't immediately known if there was a winner; the announcement was expected the following day.
The Powerball drawing took place on December 24 at 10:59 PM ET in Tallahassee, Florida.
Powerball drawings occur three times a week: Monday, Wednesday, and Saturday.
Tickets can be bought in 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, with cutoff times varying by state.
The odds of winning the jackpot are 1 in 292.2 million.
President Donald Trump's tariffs on Indian goods have caused prices to rise, affecting exports like Indian fox nuts. These tariffs aim at Indian imports of Russian oil, impacting several sectors and reducing fox nut sales to the U.S. However, fox nuts continue to find new markets and demand in other countries and within India.
Key Facts
President Trump imposed a 50% tariff on Indian goods.
Fox nuts, or makhana, are popular for their health benefits.
The price of some Indian products, like fox nuts, has doubled in the U.S.
Tariffs are partly a response to India importing Russian oil.
Exporters of fox nuts report a 40% drop in sales to the U.S.
India produces 90% of the world’s fox nuts, mainly in Bihar.
Fox nut farming supports about 150,000 farmers in India.
Despite challenges, fox nuts are gaining popularity in other markets.
The Labor Department reported a decrease in unemployment claims last week ahead of the holiday season. The number of claims fell by 10,000, but continuing jobless claims are slightly up. President Trump and economists share different views on the state of job growth and the economy.
Key Facts
Last week's unemployment claims were 214,000, down from 224,000 the previous week.
Wall Street expected 231,500 unemployment claims, but actual numbers were lower.
Continuing jobless claims rose to 1.92 million from 1.88 million.
The unemployment rate in November climbed to 4.6%.
The U.S. added 64,000 jobs in November but lost 105,000 jobs in October.
President Donald Trump commented on job growth via social media, stating new jobs are in the private sector.
Economists suggest the current hiring slowdown may pressure the Federal Reserve to adjust interest rates.
Seasonal trends and holiday hiring may temporarily affect unemployment claim numbers.
The U.S. economy is growing quickly, but job creation is slow. This trend, where the economy expands without significant hiring, is expected to continue. Factors such as increased automation and spending from wealthier households contribute to this situation.
Key Facts
The U.S. economy grew at a 4.3% annual rate in the third quarter of 2025.
Job creation averaged just 51,000 per month, despite the economic growth.
Household consumption rose 3.5%, largely driven by higher-income households.
Investment in automation and artificial intelligence is increasing.
Nominal GDP grew by 8.2%, while the unemployment rate increased to 4.6% in November 2025.
President Trump's fiscal policies, including corporate tax cuts, encourage investment in technology over labor.
Large companies benefit from these tax incentives, while smaller businesses struggle to hire due to higher interest rates.
The Middle Market Business Index indicates that midsize company hiring intentions are flat despite improved business confidence.
The California High-Speed Rail Authority is seeking private partners to help build the state's high-speed rail system. They plan to have these partnerships in place by summer 2026 to speed up construction and secure more funding.
Key Facts
The Rail Authority is looking for private investment partners to help with the high-speed rail project by summer 2026.
A Request for Qualifications (RFQ) has been issued to find a private partner for a Co-Development Agreement.
Private partners may invest in and manage assets like station facilities and track access.
171 miles of the rail system, from Merced to Bakersfield, are in the design or construction phase.
463 miles of the planned 494-mile route from San Francisco to Los Angeles have full environmental clearance.
The project has created nearly 16,400 jobs, mainly for Central Valley residents.
Over 30 major structures are currently being built in counties like Madera and Fresno.
Three U.S. senators have started an investigation into the insurance ratings firm Demotech. They are concerned that the company's ratings might not be reliable and could pose risks to mortgage giants Fannie Mae and Freddie Mac, as well as taxpayers. The senators worry that these issues might lead to financial problems, especially in Florida, where Demotech's ratings have been particularly problematic.
Key Facts
Three U.S. senators launched an investigation into Demotech, an insurance ratings company.
Demotech's ratings are considered "lightly regulated" and may expose Fannie Mae and Freddie Mac to risks.
The investigation is focused on the high number of failed insurers in Florida and Louisiana rated by Demotech.
Demotech started rating smaller insurance companies in 1985.
Over 60% of Florida insurers had Demotech ratings, with 20% becoming insolvent from 2009 to 2022 while holding an "A" rating.
Senators are concerned that Demotech's ratings allow risky mortgages to be offloaded onto Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac back most of the 51 million residential mortgages in the U.S.
The senators argue that these practices could lead to market destabilization similar to the 2008 crisis.
Shake Shack has introduced a new "Good Fit Menu" with high-protein meals, gluten-free sandwiches, and vegetarian choices. These menu items are designed to cater to various dietary needs and are available nationwide in stores and online.
Key Facts
Shake Shack's new menu is called the "Good Fit Menu."
The menu includes meals high in protein, gluten-free options, and vegetarian choices.
It is available in Shake Shack locations across the country and online.
Meal examples include a Single ShackBurger Lettuce Wrap and a Double Veggie Shack Lettuce Wrap.
Prices vary by location, with New York City menu items ranging from $8.29 to $13.99.
The company says this menu meets various dietary preferences and goals.
On Christmas Eve, a Powerball jackpot draw will offer a prize of $1.7 billion after months without a winner. This jackpot is one of the largest in the U.S. history and comes after 46 drawings without a winner since September 6. Powerball is played in 45 U.S. states and several territories, but not everyone can buy tickets everywhere due to state laws.
Key Facts
The Powerball jackpot is now $1.7 billion, one of the largest in U.S. history.
There have been 46 consecutive draws without a jackpot winner since September 6.
Powerball tickets cost $2 each, and the odds of winning the jackpot are 1 in 292.2 million.
Powerball is available in 45 states, plus Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.
Some states have different age requirements for buying lottery tickets; most require players to be 18 or older.
If a player wins, they can take the full amount over 29 years or a lump sum cash value of $781.3 million.
Smaller prizes are also available, with previous winners from various states winning amounts like $1 million and $100,000.
The game odds were made harder in 2015 to encourage larger jackpots.
There is currently less demand for people to play Santa Claus at events compared to recent years. This change reflects broader labor market trends where people are hiring fewer temporary workers for seasonal jobs. Economic factors and a shift to online shopping have contributed to this decrease in demand for Santas.
Key Facts
There is less demand for Santas now compared to the past few years.
A 30% decrease in inquiries for hiring Santas was reported compared to 2024.
Fewer people are hosting large Christmas events, affecting the need for Santas.
Economic changes and increased online shopping have contributed to reduced demand.
There are fewer malls now, so fewer Santas are needed for in-person shopping events.
More people are now interested in becoming Santas, possibly balancing the demand.
The aging workforce might result in more retirees taking up seasonal Santa jobs.
Newsweek shared a selection of new consumer products available for purchase, including energy shots, flavored salts, and skin tints. This segment, part of a series, introduces innovative and noteworthy items for consumers to try across various categories. The article aims to keep readers informed about new product trends and offers.
Key Facts
Newsweek's feature highlights new products like C4 Performance Energy Shots and Diamond Crystal Flavored Kosher Salts.
C4 Performance Energy Shots are small energy drinks available in flavors like Frozen Bombsicle and Hawaiian Punch.
Kit Kat introduced a Peppermint Stick Candy Bar for the holiday season.
Carbone Italian Simmer Sauces aim to deliver restaurant-quality food at home.
e.l.f. Halo Glow Skin Tint SPF 50 offers light coverage with sun protection.
The Wonder Oven Pro is an 8-in-1 air fryer and toaster oven, designed to be non-toxic.
Marketers can submit their new products to be featured in Newsweek's product highlights.
BP has sold a 65% stake in its motor oil division, Castrol, for $6 billion to New York-based investment firm Stonepeak. With this sale, BP plans to reduce its debts and concentrate on its main oil and gas business. BP will keep the remaining 35% of Castrol as it continues to restructure its operations.
Key Facts
BP sold a 65% stake in Castrol to Stonepeak, a U.S. investment firm.
The deal is valued at $10.1 billion, with BP receiving $6 billion in cash.
BP will use the money to pay debts and focus on its main oil and gas operations.
BP keeps a 35% stake in Castrol, which it has controlled since 2000.
This sale is part of BP’s plan to sell off $20 billion worth of assets.
BP’s strategy shift includes reducing investment in green energy.
The Castrol sale follows recent leadership changes at BP, including a new CEO.
On Christmas Eve 2025, many grocery stores shorten their hours or close earlier than usual. Most major grocery chains will not open on Christmas Day, so shoppers should plan accordingly for last-minute holiday purchases.
Key Facts
Most grocery stores shorten hours on Christmas Eve and close on Christmas Day.
Walmart and Kroger close early on Christmas Eve; both are closed on Christmas Day.
Costco is open from 9am to 5pm for executive members and 10am to 5pm for all members on Christmas Eve.
Aldi closes most of its stores at 4pm on Christmas Eve.
Publix stores close early at 7pm on Christmas Eve.
CVS and Walgreens have varying hours, with many pharmacies closed on Christmas Day.
A Powerball drawing with an estimated jackpot of $1.7 billion is scheduled for Christmas Eve.
The Federal Housing Finance Agency (FHFA) set new housing goals for Fannie Mae and Freddie Mac from 2026 to 2028. The changes include lowering the targets for lending to low-income borrowers for single-family homes. The aim is to align with current market conditions, but some people are concerned this could affect credit access for lower-income Americans.
Key Facts
The FHFA announced new housing targets for 2026-2028 for Fannie Mae and Freddie Mac.
The new rule lowers benchmarks for single-family home loans for low-income borrowers.
For borrowers earning up to 80% of the area's median income, the target went from 25% to 21%.
For those with incomes up to 50% of the median, the goal dropped from 6% to 3.5%.
The rules for multifamily home loans did not change.
The FHFA simplified its regulations by merging two subgoals into one for low-income areas.
Some experts are worried these changes may limit credit access for low- and moderate-income families.
Industry leaders have mixed reactions; some see it as a needed change given the current economic conditions.
A.M. Scott Distillery in Ohio filed for bankruptcy due to financial problems and a decline in alcohol demand in the U.S. Other American spirit companies face similar challenges, influenced by international boycotts and changing consumer habits. U.S. liquor exports have decreased, partly because of policy-driven boycotts linked to President Trump's tariffs.
Key Facts
A.M. Scott Distillery filed for bankruptcy in the Southern District of Ohio.
The company opened in 2022 and makes various spirits like gin and whiskey.
A.M. Scott listed debts of $1 million to $10 million against assets of up to $500,000.
Other distilleries like Boston Harbor Distillery and Stoli Group USA have also filed for bankruptcy.
Jim Beam plans to pause production in Kentucky for enhancements until 2026.
Only 54% of U.S. adults now say they drink alcohol, the lowest rate in 90 years.
In 2025, Canada began boycotting U.S. spirits due to tariffs set by President Trump.
U.S. spirit exports fell 9% in one year, with Canada having the largest drop at 85%.
A canal embankment collapsed on the Llangollen Canal in Whitchurch, causing significant disruptions to the local narrowboat hire business. The incident has stranded many liveaboard residents and will take months to repair. Local businesses fear financial losses, as they rely on tourists who visit the area to experience the canals.
Key Facts
A canal embankment collapsed on the Llangollen Canal, creating a large hole that affected two boats.
The collapse has stranded many people who live on boats along the canal.
Repairs are expected to take several months, impacting local businesses that depend on canal tourism.
Paul Donnelly, owner of Floating Holidays, expressed concern about future bookings and revenue loss.
Water has been lost from a 1.6 km (0.6 miles) stretch of the canal, and a dam is being constructed to control it.
This canal collapse adds to previous disruptions on other local canals, limiting route options for boaters.
The canal community is helping each other, offering accommodation and support where needed.
Paul Stowe, a resident affected by the collapse, voiced uncertainty about returning to boating.
The Murdoch family, known for their media influence, is experiencing a significant rift. Rupert Murdoch's children Elisabeth, James, and Prudence are no longer involved in the family business following a legal dispute over control. Lachlan Murdoch will now lead the companies alone after an agreement was reached.
Key Facts
Rupert Murdoch's children, Elisabeth, James, and Prudence, have cut ties with Fox Corp and News Corp.
A legal battle occurred in Nevada about the control of a trust that governed company shares.
Lachlan Murdoch is now set to be the sole leader of Rupert Murdoch's businesses after his passing.
The family dispute started because Rupert Murdoch wanted to prevent changes in company direction.
Rupert Murdoch's decision to alter the trust terms was initially ruled as not in good faith.
The final agreement prevents Elisabeth, James, and Prudence from buying back shares in the family company.
The family tensions are compared to themes from the TV drama "Succession."
Bari Weiss, the new editor-in-chief of CBS News, is planning changes in the network’s editorial process, including the creation of a masthead to streamline news procedures. This decision comes after controversy over a "60 Minutes" segment on Trump administration deportations, which did not include official comments from U.S. government departments.
Key Facts
Bari Weiss is the new editor-in-chief at CBS News.
She plans to create a masthead to improve the news process and hierarchy.
Controversy arose from a "60 Minutes" segment about the Trump administration deportations.
The segment did not include comments from the White House, State Department, and DHS.
Sharyn Alfonsi, a correspondent, stated that the story passed internal checks but was pulled for political reasons.
The new policies will require show teams to provide senior editors with more insight into sensitive stories.
Bari Weiss and Scott Pelley, a "60 Minutes" correspondent, had differing views on the handling of the segment.
The segment's future airing in the U.S. is uncertain after being leaked in Canada.
Toyota and Sisqó have teamed up to create a new version of the "Thong Song" for a holiday ad campaign called “The Thon Song.” The ad, part of Toyota's Toyotathon sales event, features new lyrics and will be available on music streaming platforms during Christmas. The campaign promotes Toyota's popular vehicles during the year-end sales push.
Key Facts
Toyota created a new ad campaign with the artist Sisqó, featuring a reimagined version of his hit "Thong Song."
The new song is called “The Thon Song” and is linked to Toyota's annual Toyotathon sales event.
The ad will debut a 15-second version of the song during Netflix’s NFL coverage on Christmas Day.
The full song will be available for streaming on Spotify and Apple Music.
Toyota's vehicles such as the Camry, Corolla, and Tacoma are highlighted in this campaign.
Saatchi & Saatchi, a marketing firm, helped create the ad.
Toyota led global automotive sales for five consecutive years up to 2025.
The original "Thong Song" hit number three on the Billboard Hot 100 chart in 2000.
The article talks about new savings and investment accounts for children called "Trump accounts," which are supported by a large philanthropic donation. These accounts are expected to open in May, and the article examines whether they will provide long-term benefits.
Key Facts
"Trump accounts" are new savings and investment accounts specifically for children.
A large philanthropic donation is backing these accounts.
They are set to become available next May.
The purpose is to help children save and invest money for the future.
There is discussion about whether these accounts will deliver the promised long-term benefits.
Paul Solman, an economics correspondent, has looked into the details of these accounts.
