Office visits in New York City are now higher than they were before the COVID-19 pandemic, according to data from Placer.ai. The city leads major metropolitan areas in returning to pre-pandemic levels, particularly driven by finance-related businesses.
Key Facts
New York City office visits in July were 1.3% higher than in July 2019.
Placer.ai tracks foot traffic at 1,000 commercial office buildings across the U.S.
NYC is the first major city tracked by Placer to show growth in office visits, with Miami also nearing pre-pandemic levels.
Many finance-related businesses in NYC have enforced return-to-office policies, contributing to the increase.
Kastle's data shows that Tuesday's office occupancy in NYC was 66% in July.
Weekly office occupancy, including less-busy days like Fridays, was below 55% in late July.
Kastle tracks security data from 2,600 buildings in 47 U.S. states.
There is uncertainty about whether these numbers will drop in August during the vacation season.
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A poll shows young people's reactions to an American Eagle jeans ad featuring Sydney Sweeney. The ad led to a split in opinion based on political views and gender. Many Democrats and young women felt the ad was out of touch, while some Republicans found it authentic.
Key Facts
A Generation Lab poll surveyed 1,289 young people across the U.S. about the American Eagle ad.
64% of young Democrats thought the ad was out of touch, compared to 39% of Republicans.
38% of Republicans found the ad authentic, while only 10% of Democrats agreed.
42% of young Democrats said the ad made them less likely to buy American Eagle jeans.
39% of young women, the main target audience, were less likely to buy the jeans after seeing the ad.
10% of all respondents believed the ad suggested ideas related to eugenics, which involves the concept of genetic superiority.
The poll's margin of error is ±2.7 percentage points.
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Japan's Nikkei 225 stock index reached a record high for the second day, driven by expectations of a U.S. interest rate cut and reduced trade tensions between the U.S. and China. The U.S. inflation data suggested lower-than-expected price rises, strengthening the argument for a potential interest rate reduction. Other major stock indexes in the U.S. and Asia also experienced significant gains.
Key Facts
Japan's Nikkei 225 index hit a record high over 43,421 points on Wednesday.
The rise followed better-than-expected U.S. inflation data suggesting a 2.7% increase in consumer prices in July.
A U.S. Federal Reserve rate cut is considered likely, with the next meeting in September.
U.S. stock indexes S&P 500 and Nasdaq Composite also set record highs after Tuesday’s trading.
U.S. President Trump extended the pause on tariffs on Chinese goods for another 90 days.
Other Asian stock markets, like Hong Kong’s Hang Seng and South Korea’s KOSPI, recorded significant gains.
Trump is pressing the Federal Reserve to reduce interest rates to stimulate the economy.
CME Group’s FedWatch tool indicated a 96.4% chance of a September rate cut.
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President Trump's spending bill includes significant cuts to the Supplemental Nutrition Assistance Program (SNAP), a major government aid program. This reduction may affect families who depend on SNAP and could lead to the closure of small grocery stores that rely on SNAP for a portion of their business.
Key Facts
Trump's spending bill reduces funds for SNAP.
SNAP is a program that helps people with low incomes to buy food.
The cuts are described as the largest in the program's history.
Small grocery stores might close if SNAP cuts lead to fewer customers.
Jimmy Wright, an owner of a small grocery store, expressed concern about the potential impact.
Smaller independent grocery stores have faced challenges in recent years.
The discussion is part of an NPR program examining the effects of SNAP cuts.
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Some councils in England have lowered swimming pool temperatures due to increased energy costs. This change has affected people like Tiffany Watson, who has a muscle condition and found cooler pools less suitable for her health needs. Rising costs following COVID-19 and global events like the war in Ukraine are major reasons behind these changes.
Key Facts
Over 15% of councils have reduced pool temperatures in the last five years.
Rising energy costs are the main reason for lowering pool temperatures.
39 out of 256 councils surveyed have lowered pool temperatures.
33 councils have reduced the temperature of at least one main or learner pool.
No pool's temperature was lowered beyond safe standards set by pool guidelines.
Tiffany Watson, affected by muscular dystrophy, had to stop swimming due to cooler water.
Energy costs for non-domestic users have more than doubled since 2019.
Five councils also cited environmental sustainability goals as a reason for the temperature change.
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Roxanne Freeman, a single mother from Leicester, paid off her £13,000 debt by earning money on TikTok. She started by posting plus-size clothing reviews and now earns up to £5,000 a month. Married couple Holly and Diego Hernandez also earn money through TikTok by posting about their lives and working with record labels.
Key Facts
Roxanne Freeman paid off £13,000 of debt by earning from TikTok.
She began creating content as a slimming consultant and now focuses on plus-size clothing reviews.
Roxanne earns up to £5,000 a month and has nearly 50,000 followers.
Holly and Diego Hernandez earn money on TikTok and have almost 300,000 followers.
Holly is a nurse and Diego works for a medical supply company; they have kept their day jobs.
Some of their income comes from the TikTok Creator Fund and playing specific songs in videos.
They started a limited company due to their social media success.
Holly mentions the challenge of dealing with negativity and managing finances as influencers.
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The diamond industry in India, especially small businesses in Surat, faces challenges due to a 50% tariff imposed by the U.S. on Indian goods. The tariffs might lead to business closures, as many U.S. buyers are canceling orders of cut and polished diamonds, heavily impacting Indian exporters.
Key Facts
Kalpesh Patel, who runs a diamond polishing business in Surat, worries he might have to shut down due to high U.S. tariffs.
The U.S. is a major market for Indian cut and polished diamonds, with $4.8 billion exported there in the 2024-25 financial year.
The U.S. implemented a 50% tariff on Indian imports following failed trade negotiations.
This increase is partly a penalty for India buying Russian oil, amid U.S. pressure related to the Ukraine conflict.
Surat is a key city for diamond processing, home to many small businesses impacted by the tariffs.
Over 2 million people work in the Indian diamond industry, with many already experiencing salary cuts.
Previous tariffs were 2.1%, but with the new increase, the total effective tariff on the gems industry is now 52.1%.
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In a podcast episode titled "When the markets need fixing (Market Design)" from NPR's Planet Money series, hosts discuss how markets work and the role of government in correcting market failures. Markets are places where buyers and sellers exchange goods and services, but sometimes they don't function well, and government intervention is necessary to improve them.
Key Facts
The episode is part of NPR's Planet Money series, specifically episode 6 of season 6.
It explains what a market is: a place where buying and selling occur.
The episode discusses how sometimes markets can fail or go wrong.
Government often steps in to help markets work better when they fail.
The hosts and producers of the episode are Robert Smith, Alex Goldmark, Eric Mennel, and Emily Crawford.
The podcast is available on multiple platforms, including Apple Podcasts and Spotify.
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The NPR "Planet Money Summer School" podcast discusses when markets need a designer to make them work better. The episode explains how markets operate and the role governments can play when markets encounter problems such as greed or risk to lives.
Key Facts
A market is a place where buyers and sellers exchange goods or services.
Markets can be physical or virtual.
The episode explores situations where markets do not function properly.
Government intervention can sometimes help improve market function.
The discussion is part of NPR's "Planet Money Summer School" series.
The podcast is available on multiple platforms like Apple Podcasts and Spotify.
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In Singapore, Chinese brands are becoming more popular and desirable. A large number of Chinese companies, including electric vehicle maker BYD, are succeeding in the city-state. The old stigma around "Made in China" is fading as these brands are seen as innovative and trendy.
Key Facts
BYD, a Chinese electric vehicle company, was the best-selling carmaker in Singapore in the first half of 2025.
BYD sold around 4,670 cars, making up about 20% of all vehicle sales in Singapore during this time.
Other Chinese brands, such as tea chain Chagee and electronics maker Xiaomi, are also gaining popularity.
In 2024, Singapore and Malaysia had the highest number of Chinese food and beverage brands in Southeast Asia.
Chinese tech firms like ByteDance and Alibaba Cloud have set up regional bases in Singapore.
Many Singaporeans, including younger consumers, now see Chinese products as modern and attractive.
Approximately 75% of Singapore's population is ethnic Chinese, making the country a key market for Chinese brands.
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Do Kwon, a former tech executive from South Korea, pleaded guilty to two fraud charges in a New York court. Kwon's company, Terraform Labs, was involved in the collapse of two cryptocurrencies, TerraUSD and Luna, in 2022. As part of a legal agreement, prosecutors will not seek a prison sentence longer than 12 years.
Key Facts
Do Kwon is a former executive linked to a major cryptocurrency crisis.
His company, Terraform Labs, managed two cryptocurrencies, TerraUSD and Luna.
Both currencies collapsed in 2022, affecting the wider crypto market.
Kwon pleaded guilty to two counts of fraud in a New York court.
The plea deal includes a maximum sentence request of 12 years.
Kwon tried to mislead investors about TerraUSD's value stabilization.
He admitted to making false statements about TerraUSD in court.
Kwon initially faced up to 135 years in prison for multiple charges, but he made a plea deal.
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MPs in England have suggested giving free bus passes to people under 22 to help them get to work and school. The number of bus trips has decreased while prices have gone up, making it hard for young people to travel. This proposal aims to make it easier for young people to access jobs and education.
Key Facts
MPs suggest free bus travel for under-22s in England to aid in accessing work and education.
Bus journeys in England fell from 4.6 billion in 2009 to 3.6 billion in 2024.
Rising bus fares outpaced inflation, creating a barrier for young people.
Scotland offers free bus travel to residents aged 5 to 22 since January 2022.
Some areas have limited or no bus service, affecting access to employment and education.
Young people rely on buses due to high costs of other transport and limited local services.
The report notes that the bus sector's economic contribution declined by £8.9 billion from 2011 to 2023.
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Rolls-Royce is working on using small nuclear reactors to power artificial intelligence (AI) systems, which the company believes could make it the UK's most valuable firm. The company has signed agreements to develop these reactors for the UK and Czech governments, aiming to address the high energy needs of AI technology. Despite challenges, Rolls-Royce sees this as a major opportunity for growth and maintains focus on its core business of aircraft engines.
Key Facts
Rolls-Royce plans to use small modular reactors (SMRs) to power AI data centers, which could boost its market value significantly.
The company has agreements to provide SMRs to the UK and Czech Republic.
AI’s energy needs have raised concerns, and Rolls-Royce believes its nuclear technology can address this issue.
CEO Tufan Erginbilgic claims the company has unmatched nuclear capabilities.
Rolls-Royce's stock price increased ten-fold since Erginbilgic became CEO in January 2023.
The company sees SMRs as vital for its future, despite them being an unproven technology currently.
Rolls-Royce continues to dominate the aircraft engine market, particularly for wide-bodied aircraft.
The company aims to enter the narrow-bodied aircraft engine market, competing with established players.
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The UK car industry is facing significant challenges, with recent factory closures symbolizing a broader decline. Production numbers have dropped, and there is growing concern about the future health of the industry, which has historically contributed significantly to the economy and employment.
Key Facts
The Vauxhall factory in Luton closed on March 28, 2025, ending over a century of production.
The UK produced 417,000 new cars and vans in the first half of 2025, the lowest mid-year output since 1953.
The full-year output for 2025 is expected to be around 755,000 vehicles, even lower than during the COVID-19 pandemic.
The automotive sector contributes approximately £22 billion annually to the UK economy.
As of 2023, the UK automotive industry employed about 198,000 people.
Closure of factories like Vauxhall, Honda, and Ford highlights a trend of plant shutdowns in recent years.
Factors such as trade policy uncertainty, Brexit impact, and strategic shifts by key manufacturers (e.g., Jaguar Land Rover) have also affected production.
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Australia is investing heavily to challenge China's dominance in the rare earth minerals market. Rare earths are important for making electric cars, wind turbines, and other technologies. Most of the world's supply is currently controlled by China, but Australia aims to change that with new mining efforts.
Key Facts
Rare earths are used in electric vehicle motors, wind turbines, and defense equipment.
China controls over 50% of rare earth mining and nearly 90% of processing.
The US gets 80% of its rare earth imports from China, while Europe relies on China for about 98%.
Australia is developing new mining projects to reduce dependence on China's supply.
Iluka Resources in Australia has a large stockpile of rare earths, valued at over $650 million.
Beijing recently relaxed export controls on rare earths to the US, easing supply chain issues temporarily.
Without stable trade agreements, there could be disruptions in the rare earth supply chain.
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The UK-India free trade agreement allows UK companies to bid on around $38 billion worth of Indian government contracts. These contracts are in areas like transport, green energy, and infrastructure. While UK firms now have new opportunities, they face challenges such as higher pricing and delays in payment.
Key Facts
The UK-India trade deal opens India's government procurement market to UK businesses.
UK firms can now bid on about $38 billion in contracts across various sectors.
Areas of opportunity include transport, green energy, and infrastructure projects.
UK companies can supply goods made with only 20% local content, offering flexibility in sourcing materials.
Indian companies continue to receive priority in many procurement situations.
UK companies may face challenges with higher prices compared to local businesses.
Delays in payment and contract enforcement are common issues in India's procurement processes.
India's contract enforcement ranking was 163 out of 190 in the World Bank's Doing Business report.
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Some companies are bringing back in-person job interviews. This change comes as a response to the ease with which candidates can use advanced chatbots to gain unfair advantages during online interviews.
Key Facts
Many companies moved to online interviews during the COVID-19 pandemic.
Companies like Google, Cisco, and McKinsey have reintroduced in-person interviews.
In-person interviews help prevent cheating using AI or chatbots.
In-person interviews reduce the risk of scammers pretending to be candidates or companies.
Coda Search/Staffing noted an increase in clients requesting in-person interviews from 5% to 30% in a year.
Job seekers use AI tools to improve their resumes and cover letters.
Employers use AI to help sort through job applications and sometimes even conduct interviews.
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New inflation data suggests that tariffs introduced by President Trump may be affecting consumer prices. Although overall inflation remained stable, core inflation, which excludes prices for food and energy, increased slightly. Michael Strain from the American Enterprise Institute discussed these changes.
Key Facts
New inflation figures have been released.
President Trump's tariffs are reportedly affecting consumer prices.
Overall inflation did not change much.
Core inflation, which does not include food and energy prices, rose slightly.
Core inflation is important to the Federal Reserve.
Amna Nawaz talked with Michael Strain about tariffs and inflation.
Michael Strain is from the American Enterprise Institute.
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The Japanese company Epoch, which owns Sylvanian Families, dropped its lawsuit against Thea von Engelbrechten, a content creator known for the Sylvanian Drama social media accounts. The lawsuit claimed that von Engelbrechten's humorous content using Sylvanian Families infringed on copyright and harmed the company's reputation. Both parties agreed to dismiss their legal claims without prejudice.
Key Facts
Epoch, a Japanese toy company, filed a lawsuit against Thea von Engelbrechten for copyright infringement.
Von Engelbrechten created popular social media content using Sylvanian Families figures in soap opera scenarios.
Her accounts had 2.5 million followers on TikTok and 1 million on Instagram.
The lawsuit was filed in April, alleging damage to Epoch's reputation.
Epoch dropped the lawsuit on August 8, with both sides covering their legal costs.
Thea von Engelbrechten announced changes to her social media account name and profile picture following the lawsuit's end.
Sylvanian Families, marketed as Calico Critters in the U.S., are toy animal characters with themed playsets.
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Ford plans to invest billions of dollars in a Kentucky plant to produce electric vehicles (EVs). The company will start by making a midsize pickup that they expect to sell for around $30,000.
Key Facts
Ford is investing billions in an automotive plant in Kentucky.
The plant will be redesigned to manufacture electric vehicles (EVs).
Ford's first vehicle from this plant will be a midsize pickup truck.
The expected cost of the new pickup is around $30,000.
The focus is on making electric vehicles more affordable.
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