The Labour Party has allowed six areas in southern England to increase council tax rates by more than 5% without requiring voter approval for two years. This decision follows a reduction in government funding for these areas, as funding will now be redirected toward more deprived areas. The change aims to address funding inequities but has faced criticism for potentially affecting councils that keep taxes low.
Key Facts
Six areas in and around London can increase council tax by over 5% for two years without voter approval.
The areas include Kensington and Chelsea, Westminster, Wandsworth, Hammersmith and Fulham, City of London, and Windsor and Maidenhead.
These areas are expected to receive less government funding as more funds are redirected to deprived areas.
The new funding model will be phased in over three years starting in 2026.
The goal is to support councils with higher deprivation and more properties in lower tax bands.
Changes were made to the original proposals to consider housing costs in inner London.
The Institute of Fiscal Studies noted that these six councils would face significant funding reductions.
The UK government will increase overall council funding by £3.9 billion next year, assuming a general council tax increase of 5%.
Warner Bros Discovery rejected a takeover bid from Paramount Skydance, claiming the offer was misleading. Paramount promised financial backing from the Ellison family, but Warner Bros preferred Netflix's offer. Affinity Partners, linked to President Trump's family, withdrew from supporting Paramount's bid.
Key Facts
Warner Bros Discovery turned down Paramount Skydance’s $108.4 billion takeover bid.
Warner Bros accused Paramount of misleading information about financial backing.
Paramount claimed financial support from Larry Ellison’s family, but Warner Bros found the offer risky.
Netflix offered $27.75 per share, and Warner Bros favored this deal because it required no additional financing.
Affinity Partners, connected to President Trump’s family, pulled out of funding Paramount’s bid.
Warner Bros expects a shareholder vote on the deal in spring or early summer.
Paramount said it secured $41 billion in equity and $54 billion in debt to support its bid.
Warner Bros emphasized confidence in Netflix’s merger (buying the company) agreement with strong commitments.
FCC Chairman Brendan Carr stated in a Senate testimony that the FCC is not formally independent, which led to the removal of the term "independent" from the agency's mission statement. This change aligns with a trend where regulatory agencies seem to be losing autonomy to the executive branch. The issue gained attention as Chairman Carr did not clearly say whether President Trump has direct authority over him and other FCC commissioners.
Key Facts
Brendan Carr, FCC Chairman, testified that the FCC is not formally independent.
The word "independent" was then removed from the FCC's mission statement on its website.
This change reflects a broader trend of decreasing autonomy for regulatory agencies during President Trump's tenure.
The Supreme Court is considering whether President Trump can fire Federal Trade Commission members.
Senator Ben Ray Luján began questioning the FCC's independence during Senate testimony.
Chairman Carr did not directly answer if President Trump can pressure him on media-related issues.
Carr has supported removing a cap on local broadcaster mergers, which President Trump opposes.
The FCC is evaluating the influence of national programmers over local news syndicates.
UnitedHealthcare might stop covering services at NewYork-Presbyterian for Medicare Advantage plan members if they don't reach a new agreement by the end of the month. This change could affect many people who use these plans, as they may need to find new doctors or hospitals. People currently in treatment at NewYork-Presbyterian might still have some time to receive in-network benefits even if the hospital goes out of network.
Key Facts
UnitedHealthcare and NewYork-Presbyterian are negotiating to keep the hospital in-network for Medicare Advantage members.
If no agreement is reached, NewYork-Presbyterian will be out-of-network starting January 1, 2026.
Medicare Advantage plan members may need to find new doctors or hospitals if NewYork-Presbyterian is dropped.
People in active treatment may get in-network benefits for 90 days after coverage ends.
UnitedHealthcare advised members to call their health plan for questions and assistance.
The negotiations affect commercial and Medicaid plans along with Medicare Advantage.
Patients might need to change their insurance or healthcare providers if no agreement is reached.
The situation highlights issues with how Medicare Advantage plans can change coverage.
Morrisons, a UK supermarket chain, must pay £17 million in taxes after a legal ruling decided it should charge VAT on its rotisserie chickens. The court found that the chickens, sold hot, did not qualify for a tax exemption despite Morrisons' claims that most customers ate them cold.
Key Facts
Morrisons faces a £17 million tax bill related to VAT on rotisserie chickens.
A legal tribunal ruled that the chickens should have a 20% VAT, similar to other hot foods.
Morrisons argued that most people eat the chickens cold and claimed they should be tax-exempt.
The ruling stated Morrisons did not disclose important details about the chicken packaging.
The tax matter stems from a law introduced in 2012, known for affecting baked goods.
The tribunal judge highlighted the packaging's heat retention features as a key issue.
The chickens were removed from sale while still hot, making them ineligible for VAT exemption.
Father Christmas performers in the UK are seeing no change in their pay rates this year, with the average rate remaining at £15 per hour. However, elves, who assist during these holiday performances, have experienced a small pay increase.
Key Facts
Father Christmas performers in the UK continue to earn £15 an hour on average, the same as last year.
Elves, who help manage holiday events, now earn £12.48 an hour on average, up from £11.60 last year.
Earnings for Father Christmas roles can vary widely from the minimum wage of £12.21 to as much as £27.59 an hour.
Dobbies pays starter Father Christmas performers £17 an hour and those with experience £20.
Santa roles generally require patience, improvisation skills, and stamina due to common cold and flu seasons.
Elves' responsibilities include maintaining Christmas spirit while often being on their feet and in costume.
Job listings for elves sometimes require knowledge of Christmas lore, such as North Pole geography and reindeer etiquette.
Inflation rates have dropped to their lowest level in eight months, mainly due to lower prices for food and clothing. However, the inflation rate is still higher than the target of 2%.
Key Facts
Inflation reached its lowest level in eight months.
The decrease is partly due to lower food and clothing prices.
Inflation is still above the target rate of 2%.
The data covers the year leading up to November.
Lower inflation means costs for everyday items are not rising as fast.
The report indicates inflation fell more than expected.
Inflation figures show prices increased by 3.2% over the past year, but the rate of increase has slowed. Food items like pasta and sugar have seen price drops, contributing to the slowdown. This trend may influence interest rates, potentially making borrowing cheaper.
Key Facts
Prices rose by 3.2% compared to last year.
Inflation rates are higher than the Bank of England's target of 2%.
Food prices drove a drop in the inflation rate; food and drink increased by 4.2% compared to 4.9% in the previous month.
Chocolate prices increased by 17%, while olive oil prices fell by 16%.
Clothing and footwear prices decreased by 0.6% over the year.
Analysts expect the Bank of England may lower interest rates, making borrowing more affordable.
Inflation affects the buying power of money, impacting both savings and earnings.
An economist has highlighted a worrying sign for the U.S. economy based on a recent rise in unemployment rates. The "Sahm Rule," used by the Federal Reserve, indicates potential early stages of a recession when unemployment rises by 0.5% compared to the previous year's lowest level. November job data revealed a rise in unemployment to 4.6%, raising concerns among experts about a slowdown in the labor market.
Key Facts
The unemployment rate in the U.S. increased to 4.6% by November 2025.
The Sahm Rule suggests that a rise in unemployment can be an early sign of recession.
Between September and November, the three-month average unemployment rate rose to 4.5%.
The economy added 64,000 jobs in November but lost 105,000 jobs in October.
October's job loss was partly due to government employees leaving after a deferred resignation offer.
Job growth has slowed significantly, with nearly no overall employment growth since April.
Rising unemployment is a concern, but not yet at typical levels seen at the start of recessions.
Claudia Sahm noted complications in using her rule due to missing data from October.
Thousands of salad dressing cases, including some Hidden Valley products, have been recalled in 27 U.S. states due to contamination with plastic materials. The recall was initiated by Ventura Foods and classified as Class II by the FDA, meaning the products might cause temporary health issues. Affected dressings were distributed to major retailers like Costco and Publix.
Key Facts
Ventura Foods began the recall on November 6, 2025.
The contamination involves "black plastic planting material."
The FDA labeled this a Class II recall.
3,556 cases of salad dressing are affected.
The recall includes several brands and types, like Hidden Valley Buttermilk Ranch (for food service only).
Dressings were distributed in 27 states, including Florida, Texas, and California.
Affected products should be returned for a refund.
Paddy Power Betfair, owned by Flutter Entertainment, agreed to pay £2 million after the UK's Gambling Commission found they were slow to address problem gambling behaviors among customers. The Gambling Commission pointed out that the company's systems failed to act quickly on clear signs of harmful gambling activities. The firm has committed to improving its response measures to prevent such issues in the future.
Key Facts
Paddy Power Betfair will pay £2 million for not acting quickly on problem gambling issues.
The Gambling Commission found cases where the company did not intervene when customers showed signs of harmful gambling.
In one instance, a customer bet £86,000 in just over two weeks without a manual review.
Another customer placed more than 300 bets, totaling £20,000, during an eight-hour spree.
The payment is in lieu of a financial penalty for not meeting social responsibility standards.
This is the second time in two years the company faced regulatory action for similar issues.
Paddy Power Betfair claims they have improved their systems to detect problem gambling more effectively in real-time.
Elon Musk has become the first person to achieve a net worth of over $600 billion, according to Forbes. His wealth increased significantly due to a new valuation of SpaceX, where he owns a large stake, and his continued stakes in Tesla. Musk is currently the richest person in the world, far ahead of other billionaires like Larry Page and Jeff Bezos.
Key Facts
Elon Musk's net worth has exceeded $600 billion, making him the richest person globally.
A recent valuation of SpaceX at $800 billion greatly increased Musk's wealth.
Musk owns 42% of SpaceX and about 12% of Tesla.
SpaceX's potential future public offering could further bolster Musk's net worth.
The world's next richest individuals include Larry Page, Jeff Bezos, Sergey Brin, and Mark Zuckerberg.
Bill Gates is currently 18th on Forbes' list with a net worth of $104 billion, despite being the wealthiest person from 1995 to 2017.
Musk's net worth growth has been historic, reaching various milestones rapidly, including $100 billion in 2020 and $500 billion in 2025.
SpaceX's projected valuation when going public could be $1.5 trillion, further increasing Musk’s net worth.
A California city is being encouraged to continue a program that provides $500 monthly checks to low-income residents. The program, which lasted a year, helped families in Fresno and Huron, California, and showed positive changes in reducing financial stress and food insecurity. Advocates want the program to be extended to support more families in need.
Key Facts
The program began in July 2024 to help low-income families in southwest Fresno and Huron.
It gave 150 families $500 each month for one year.
The funding came from private foundations, not government sources.
During the program, families saw lower rates of borrowing, reduced food insecurity, and less financial stress.
This initiative is part of a broader debate on guaranteed income, which targets specific low-income groups.
Researchers and former officials support continuing and expanding the program based on its success.
The program drew inspiration from a similar initiative in Stockton, California.
The Treasury Department announced details about the Trump Accounts program, which is a tax-deferred investment option benefiting eligible children with a $1,000 government contribution. Parents can sign up for this program while filing taxes using a new IRS form, and the invested money will focus on U.S. stock indexes. The program is open to families of all income levels with qualifying children, allowing additional private contributions each year.
Key Facts
The Trump Accounts program offers a $1,000 government contribution for eligible children.
Parents enroll in the program using a new IRS form, Form 4547, when filing taxes.
Financial institutions will open and manage the accounts for participants.
The investment options must be low-fee and tied mainly to U.S. stock indexes.
Families can add extra private contributions to the accounts each year.
The program was created under President Donald Trump’s tax and spending law.
Households of any income level with qualifying children can participate in the program.
India's exports grew by about 20% in November, primarily due to increased shipments to the United States and China. This growth happened despite high tariffs from the U.S. under President Donald Trump's trade policies. Key export sectors included electronics, pharmaceuticals, and engineering goods.
Key Facts
India's exports increased by 19.4% year-on-year in November 2025, totaling $38.13 billion.
U.S. tariffs on Indian goods were raised to 50% due to India's Russian oil purchases.
India's trade deficit decreased to $24.5 billion in November, the lowest since June.
Exports to the U.S. rose by 22% in November, valued at approximately $7 billion.
Exports to China surged by 90% year-on-year, totaling $2.2 billion.
Key export sectors included engineering goods, electronics, pharmaceuticals, jewelry, and gems.
Certain Indian goods like electronics and pharmaceuticals are exempt from U.S. tariffs.
India and the U.S. signed a contract for India to import 2.2 million metric tonnes of U.S. liquefied petroleum gas annually.
An artist named Kimberly Marasco is suing Taylor Swift, claiming Swift copied her poetry in song lyrics. Marasco used artificial intelligence to support her claims, but Swift's lawyers argue that this use of AI lacks proper authority. The court has not yet decided on the case.
Key Facts
Kimberly Marasco, an artist from Florida, claims Taylor Swift copied her poetry in song lyrics and visuals.
Marasco used AI to analyze similarities between her work and Swift’s lyrics.
Swift's lawyers argue that Marasco is not authorized to use AI to support her claims.
Marasco says the AI analysis is just an illustration, not an expert opinion.
Marasco previously sued Swift, but that case was dismissed due to filing issues.
Swift's attorneys have called Marasco’s claims unfounded and are seeking to have the case dismissed.
Marasco used AI platforms like ChatGPT, Grok, and Perplexity for her analysis.
The court has not yet ruled on Marasco’s request for a preliminary injunction or the motion to dismiss the lawsuit.
Warner Bros. is advising its shareholders to turn down a takeover offer from Paramount Skydance, as it believes a competing bid from Netflix is more favorable. Paramount offered $30 per share, while Netflix offered $27.75 per share, but Warner Bros. supports Netflix's proposal due to potential benefits for its customers and creators. Shareholders will decide between these offers, which may change the film and streaming industry landscape if approved.
Key Facts
Warner Bros. encourages shareholders to reject Paramount Skydance's takeover bid.
Paramount offers $30 per Warner share, but Warner's board favors Netflix's $27.75 offer.
A merger could change Hollywood's movie and streaming landscape.
U.S. regulators will closely watch the impacts of any merger.
Inflation reached its lowest point in eight months in November due to decreases in prices for food, alcohol, and clothing. These lower prices contributed to the drop in inflation.
Key Facts
Food, alcohol, and clothing prices went down last month.
These falling prices helped lower inflation to its lowest level in eight months.
The report is focused on the month of November.
Lower prices were a significant factor in reducing inflation.
Inflation is a measure of how much prices for goods and services increase over time.
A map from Target shows that gingerbread cookies are the most popular holiday cookie in the United States for 2025. Sales data collected from all 50 states reveal that gingerbread cookies are favored in 38 states, while sugar cookies and shortbread are more popular in some other regions.
Key Facts
Gingerbread cookies are the top holiday choice in 38 out of 50 U.S. states.
The data used for this finding comes from Target's sales between November 1 and December 6, 2025.
Gingerbread cookies are popular due to their familiar taste and fun shapes.
Sugar cookies are the most bought in eight states, including New York and Vermont.
Shortbread is the leading choice in four states, such as Kansas and New Jersey.
Target describes gingerbread as the "unofficial cookie of the 2025 holiday season."
The tradition of gingerbread cookies came to the U.S. from early German settlers.
Retail trends suggest gingerbread will remain popular due to its classic flavor.
The Salem Radio Network has chosen Scott Jennings and Alex Marlow to fill the national midday radio slot, previously held by Charlie Kirk. Jennings will host from 1–3pm, while Marlow will anchor the noon–1pm hour starting January 5. "The Charlie Kirk Show" will continue as a podcast.
Key Facts
Scott Jennings and Alex Marlow will take over the midday radio slot on Salem Radio Network, previously hosted by Charlie Kirk.
Jennings will host from 1–3pm ET, while Marlow will cover the noon–1pm hour.
The new schedule begins on January 5.
Charlie Kirk was a conservative activist who was assassinated on September 10.
"The Charlie Kirk Show" will continue as a podcast on the Salem Podcast Network.
Salem Radio is a major platform for conservative talk radio, reaching about 1.2 million listeners weekly on over 300 stations.
Both Jennings and Marlow have established audiences from their work with CNN and Breitbart News, respectively.
