Libya has given new oil and gas exploration rights to foreign companies for the first time since 2007, trying to reinvigorate its oil sector after years of turmoil. Major companies like Chevron and Nigeria's Aiteo won licenses in this round. This move marks a renewed, though cautious, interest in Libya's energy industry.
Key Facts
Libya assigned new oil and gas exploration licenses to foreign firms.
The first licensing round since 2007 was announced by Libya's National Oil Corporation.
Winners included Chevron, Aiteo, and consortia involving Repsol, British Petroleum, Eni North Africa, QatarEnergy, and others.
The country hopes to boost oil production after years of conflict following Muammar Gaddafi's overthrow in 2011.
Only five out of 20 available blocks were awarded due to concerns about political instability and security.
Libya is divided politically, affecting oil production and revenues.
Prime Minister Abdelhamid Dbeibah aims to increase daily oil production by 850,000 barrels in a new deal with TotalEnergies and ConocoPhillips.
Libya's National Oil Corporation plans to introduce more favorable contract terms to attract investment.
The U.S. economy added 130,000 jobs in January 2026. However, revisions to last year's job data show a weaker performance than previously thought. Some companies, like Amazon and UPS, are laying off employees.
Key Facts
In January 2026, the U.S. economy added 130,000 jobs.
Revised data indicates last year's job growth was weaker than earlier reported.
Companies such as Amazon and UPS are announcing layoffs.
The layoffs add to concerns about the strength of the job market.
Geoff Bennett interviewed Harry Holzer, a former chief economist for the Department of Labor, for more insights.
Lloyds Banking Group announced it will close 95 more branches in the UK between this year and 2027. This is part of a trend where banks are shutting down branches due to less in-person banking as more people use online banking apps. Lloyds said it will focus on providing various ways for customers to manage their money even with fewer physical locations.
Key Facts
Lloyds Banking Group will close 95 more branches, including 53 Lloyds, 31 Halifax, and 11 Bank of Scotland locations.
These closures will take place from May of this year to March 2027.
Once all closures are complete, Lloyds will have 610 branches left.
More than 21 million customers use Lloyds' banking apps as their main banking method.
Santander also announced the closure of 44 branches recently.
The movement to close branches corresponds with an increase in online and mobile banking usage.
Nationwide has committed to keeping its 696 branches open until at least 2030.
Some new banking hubs have opened, which allow multiple banks to share premises, but these are opening more slowly compared to branch closures.
A pub in Lincolnshire is considering raising the price of a pint of Guinness to £7.50 due to increased costs from the supplier. The owner wants to know if customers would still buy Guinness at this price. Rising costs are a concern for both pub owners and customers.
Key Facts
The Advocate Arms pub is considering raising the price of a pint of Guinness from £6 to £7.50.
The pub's owner, Matthew Horsfield, seeks customer opinions on the potential price increase.
Diageo, the company distributing Guinness, mentioned rising supply chain costs as a reason for higher prices.
On average, a pint of Guinness in the UK costs £5.21.
The proposed price increase is set to begin in April, potentially adding approximately £0.04 to the cost of a draught pint.
Rising costs are causing financial difficulties for pubs, with many facing the choice of raising prices or closing.
The government plans to give a 15% business rate discount to pubs and music venues in England starting from April.
Some breweries, like Shadowbridge Brewery, limit drink prices to £5 to control costs and avoid wastage.
An economic study by the National Bureau of Economic Research found that U.S. companies save a lot of money in payroll costs by hiring H-1B visa holders, paying them about 16% less than similar U.S. workers. This savings might be a reason for the high demand for H-1B visas despite a cap on their availability. The study suggests that firms enjoy big cost benefits, leading some to reconsider the motivations behind hiring H-1B workers.
Key Facts
U.S. companies save nearly $100,000 in payroll over six years for each H-1B worker hired.
Employers pay H-1B workers about 16% less than U.S. workers with similar qualifications.
The demand for H-1B visas remains high, with more annual registrations than available slots.
A new policy requires companies to pay a $100,000 fee for each H-1B visa starting in 2027.
The study estimates this fee could rise significantly without reducing employer demand.
Employers' cost savings might be a bigger motivation than worker scarcity for H-1B hires.
The study examined over 340,000 H-1B hires from 2021 to 2024.
In January, the U.S. saw a surprising boost in job growth with 130,000 new jobs, following a weak 2025. This growth reduced the unemployment rate to 4.3% as reported by the Labor Department. The increase mainly came from healthcare and construction, even though some sectors lost jobs.
Key Facts
The U.S. added 130,000 jobs in January.
The unemployment rate dropped to 4.3%.
Job growth was much stronger than many experts expected.
The healthcare and construction sectors saw the most new jobs.
The U.S. created only 181,000 jobs in 2025, lower than earlier reports.
Some economists say the job growth might appear stronger because of data quirks.
The U.S. central bank is under less pressure to cut interest rates because of this growth.
Pay increased by 3.7% over the past year, on average.
The Congressional Budget Office (CBO) reports that the U.S. will face bigger federal deficits and debt over the next decade. This increase is mainly due to higher spending on programs like Social Security and Medicare, along with payments on the national debt.
Key Facts
The CBO is a nonpartisan agency that provides budgetary and economic information.
The latest 10-year outlook predicts an increase in federal deficits and rising debt.
Major spending on Social Security and Medicare is driving the deficit rise.
Debt payments, known as debt service payments, also contribute to increased spending.
The 2026 deficit is projected to be $100 billion higher than previously expected.
Total deficits from 2026 to 2035 are expected to be $1.4 trillion larger.
Public debt is predicted to grow from 101% of GDP to 120% of GDP.
Policy changes by the Trump administration, like higher tariffs and stricter immigration laws, have affected these projections.
Oatly, a company that makes plant-based drinks, lost a legal battle in the UK about using the word "milk" in its marketing. The UK Supreme Court decided that Oatly cannot use the term "post-milk generation" to describe its products. This decision is based on rules saying that "milk" should only be used for animal-based products.
Key Facts
Oatly cannot use "oat milk" or "post-milk generation" in its marketing.
The UK Supreme Court and several other courts made this decision.
Dairy UK argued that the term "milk" must only describe animal-derived products.
The Intellectual Property Office (IPO) had earlier denied Oatly the trademark.
Similar rulings align with the EU's stance against using "milk" for non-animal products.
Oatly may now use terms like "dairy-free" strictly for factual information.
European farmers claim such terms can mislead consumers and impact their industry.
The decision aligns with strict EU and UK dairy term regulations.
Corteva Agriscience has announced it will stop making and selling its herbicide Enlist Duo in the U.S. The decision comes after years of legal challenges about the pesticide's links to cancer and environmental harm. The U.S. Environmental Protection Agency must still officially cancel the registration for Enlist Duo.
Key Facts
Corteva Agriscience is stopping production and sales of the herbicide Enlist Duo in the U.S.
Enlist Duo is a mix of two chemicals, 2,4-D and glyphosate, linked to cancer and environmental harms.
The Center for Food Safety has been challenging Enlist Duo since 2015 due to health and environmental concerns.
Enlist Duo currently makes up less than 1% of Corteva's U.S. Enlist sales.
The U.S. Environmental Protection Agency has not yet officially canceled the product's registration.
2,4-D, used since the 1940s, was part of Agent Orange used in the Vietnam War.
The World Health Organization classified glyphosate as "probably carcinogenic to humans" in 2015.
President Donald Trump wants to lower mortgage rates and has selected Kevin Warsh as the new chair for the Federal Reserve. Warsh, a former Wall Street executive and Fed governor, must be confirmed by the Senate. Experts say Warsh’s potential policies could result in higher mortgage rates, which is different from Trump's goal.
Key Facts
President Trump has been pushing for lower mortgage rates.
Jerome Powell, the current Fed chair, refused to cut interest rates.
Trump nominated Kevin Warsh to replace Powell once his term ends.
Warsh has experience as a former Fed governor and Wall Street executive.
Warsh must be confirmed by the Senate to become the next Fed chair.
Warsh may want to reduce the Fed’s large bond holdings.
Reducing bond holdings could actually increase mortgage rates.
Trump’s aim of reducing mortgage rates might not align with Warsh’s policies.
A report from Goodwill Industries International highlights significant economic challenges faced by Gen Z adults, who report high levels of unemployment and uncertainty about their career paths. The report shows a "generational recession" impacting younger workers more severely than older generations. Many Gen Z individuals experience job insecurity and postpone key financial goals due to economic pressures.
Key Facts
Gen Z adults are facing the highest levels of unemployment, with 15% of them unemployed and seeking work.
The overall unemployment rate reported across all generations is 11%.
82% of Gen Z workers feel confident about their current job, lower than the average confidence level of 86% among all age groups.
Only 28% of Gen Z feel sure about their future if they lose their current job, compared to 59% of Baby Boomers.
42% of Gen Z delay major financial goals like paying off debt or buying a home due to job concerns.
One in five Gen Z respondents are considering a significant career change due to economic conditions.
The survey includes responses from 1,300 people, with an oversample of Gen Z respondents.
GloRilla, a Grammy-nominated rapper, is involved in a public dispute with her sister over financial support for their family. Her estimated net worth is between $1 million and $3 million, but her sister claims GloRilla is not helping their family financially. Despite the dispute, GloRilla has not publicly confirmed her earnings or financial obligations.
Key Facts
GloRilla's real name is Gloria Woods.
She is a successful rapper from Memphis, signed to Yo Gotti's label in 2022.
GloRilla's estimated net worth in 2026 is between $1 million and $3 million.
Her income comes from a label advance, streaming, touring, and endorsements.
She owns a house in Georgia worth about $2.76 million.
GloRilla's sister, Scar Face, claims the rapper does not financially support their family.
Scar Face mentioned their mother still works at FedEx and requested $2,500 per family member.
Rapper Tory Lanez sent Scar Face $2,500 to help with the situation.
Nearly half of Gen Z adults in the U.S. avoid checking their bank accounts due to stress about their finances. A recent survey shows that both Gen Z and Millennials experience significant anxiety about their money situation. Many Americans face financial challenges, including high levels of debt and ongoing reliance on credit.
Key Facts
46% of Gen Z adults avoid checking their bank account balances because of financial stress.
Nearly three-quarters of both Gen Z and Millennials report high or moderate anxiety about their money.
A consumer confidence survey showed that optimism about finances is at a low, with negative views on business and job conditions.
A survey found 88% of American adults experience financial stress, an increase from 79% in 2020.
The total American consumer debt reached a new high, with credit card debt at $1.3 trillion and auto loans at $1.7 trillion.
Many Americans still depend on credit and often live paycheck to paycheck.
Less than half of young adults feel ready for major financial steps like buying a home or starting a family.
Recent data shows fewer Americans expect improvements in their personal financial situation over the next year.
Tax refunds in Idaho might face delays due to budget cuts. Governor Brad Little is considering tax cuts from the federal One Big Beautiful Bill Act, which may affect the refund timeline. Residents may have to wait longer for refunds and might receive interest due to the delays.
Key Facts
Idaho's tax refunds could be delayed for months because of state budget cuts.
Governor Brad Little is deciding on approving federal tax cuts from the One Big Beautiful Bill Act.
The Idaho State Tax Commission warned the delays could earn residents interest on late refunds.
State budget cuts include a reduction of nearly every agency's budget by 1%, totaling $131 million.
Previous summer cuts of 3% were implemented due to a budget crisis, saving around $210,308.
Approving the tax conformity bill could result in $155 million loss in state revenue.
Federal tax cuts under President Trump's Working Families Tax Cuts might increase refunds by $1,000 on average, but Idaho faces state-level issues.
Tax refund delays are expected to be a state administrative issue and federal refunds should not be affected.
The FDA has classified the recall of certain McCain Foods USA Tater Tots as a Class II risk, indicating moderate potential health risks due to possible plastic fragments in the products. The recall involves two types of Tater Tots under the Ore-Ida and Sonic brands distributed in 29 U.S. states.
Key Facts
McCain Foods USA issued a recall for two types of Frozen Tater Tots on January 12, 2026.
The FDA set the recall at a Class II risk level, meaning there is moderate risk with unlikely chance of serious health issues.
The recalled products may contain small hard plastic pieces.
The recall affects 21,557 cases of Ore-Ida and 67 cases of Sonic Tater Tots.
Each case contains six 5-pound bags, packed in clear, unlabeled poly bags.
Affected Tater Tots were sent to 29 states, including California, Texas, and Florida.
The products were distributed to food service accounts, not retail stores.
McCain USA has been contacting affected parties to manage the recall.
A warehouse worker posted online about receiving a mini candy bar as a token of appreciation from their multibillion-dollar company, leading to backlash about the gesture's insensitivity. The worker's post went viral, prompting others to share similar experiences of inadequate workplace rewards.
Key Facts
A warehouse worker received a mini "PayDay" candy bar as recognition from their company.
The mini candy bar had a note saying the worker deserved an "EXTRA PAYDAY."
The gesture was criticized online for being cheap and disrespectful.
The post received more than 33,000 upvotes on Reddit.
Other users shared similar stories of disappointing workplace appreciation.
Critics pointed out a grammatical error in the company's note.
Many comments suggested the company was either mocking workers or simply clueless.
The Newsweek New & Noteworthy feature highlights a variety of new consumer products, including beauty, food, and household items. The products mentioned are designed to offer new innovations and solutions in their respective categories, such as Olay's moisturizer with a built-in roller and Oreo's sugar-free cookies.
Key Facts
Newsweek New & Noteworthy is a feature that showcases new products weekly.
Olay introduced a face and neck moisturizer with a built-in roller for even application.
Carbone Fine Food launched a Cacio e Pepe Alfredo sauce for home use.
Vaseline released a limited-edition mini lip balm for Valentine’s Day.
Oreo has launched zero-sugar chocolate sandwich cookies.
e.l.f. Beauty and H&M created a limited-edition fragrance line.
Bob's Red Mill introduced a baking mix for making blondies.
Category: business
Jack in the Box is bringing back a popular sandwich called the "Hot Mess Burger" for its 75th anniversary. The burger will be available nationwide for a limited time and is part of a larger celebration that includes collectible items and an anniversary tour.
Key Facts
Jack in the Box is reintroducing the "Hot Mess Burger" starting February 16 at locations nationwide.
The burger was first introduced in 2013 and became highly requested after it was removed.
It features a beef patty, white cheese sauce, pepper jack cheese, pickled jalapeños, and onion rings on sourdough bread.
The burger will be available until April 5, 2026, according to Nation's Restaurant News.
The company is also bringing back the Hot Mess Double Cheeseburger and a Hot Mess Munchie Meal.
A promotional tour will start in San Diego and end in Austin, Texas, with stops in between.
Jack in the Box is also releasing a new version of a collectible antenna ball to mark the occasion.
The company plans to remake a classic advertisement featuring its mascot for this celebration.
The U.S. added 130,000 jobs in January, but past job numbers were revised down, showing fewer jobs than previously thought. The unemployment rate dropped to 4.3%.
Key Facts
130,000 new jobs were added in the U.S. in January.
The U.S. government's revisions showed a decrease in job numbers for 2024-2025 by hundreds of thousands.
The unemployment rate in the U.S. fell to 4.3%.
Job number revisions revealed that only 181,000 jobs were created last year.
Last year’s revised job count was the lowest since 2020.
The U.S. economy is growing, but the job market remains slow.
Amazon has announced several recalls of products sold on its website due to safety concerns. These recalls involve essential oils, dietary supplements, and food items that could pose risks like poisoning and choking. Federal agencies are working with Amazon to address these issues and provide refunds to customers.
Key Facts
Amazon issued recalls for various products including essential oils, dietary supplements, and food items.
Recalled essential oils contained methyl salicylate and lacked childproof packaging, posing a poisoning risk.
Essential oils from Lotus Joy, GM Gumili, and Organic Zing are affected.
No injuries or deaths have been reported from the essential oils.
The Ashfiat Alharamain Energy Support supplement was recalled for containing undeclared Tadalafil, a prescription drug.
The Chips Ahoy! Baked Bites Brookie had a recall due to a choking hazard from corn starch clumps.
The U.S. Consumer Product Safety Commission (CPSC) and the Food and Drug Administration (FDA) are involved in these recalls.
Customers are advised to stop using recalled products and follow instructions for refunds or replacements.
