The Organization for Economic Co-operation and Development (OECD) predicts that the U.S. economy will grow slower and see higher inflation next year. A major concern is that a potential burst in the AI-driven stock market bubble could worsen economic conditions.
Key Facts
The OECD forecasts that U.S. economic growth will slow down and inflation will increase next year.
The labor market in the U.S. is expected to weaken.
Tariff-related price pressures will continue to affect the economy.
There is a risk that the AI-driven stock market bubble might burst, which could worsen economic conditions.
The OECD projects U.S. economic growth to be 2% this year, slowing to 1.7% in 2026 and rising to 1.9% in 2027.
Inflation in the U.S. is expected to rise to 3% next year from 2.7% this year.
The organization suggests that more interest rate cuts might be needed.
The situation is still developing, and more updates are expected.
A group travel discount is available for bus travel in Hull over Christmas. The discount allows up to five people to travel for £7 instead of the usual £14.90.
Key Facts
A group travel discount is offered for bus travel in Hull.
The discount is available from Stagecoach East Midlands and East Yorkshire Buses.
The discounted ticket is for up to five people and costs £7.
Normally, the group ticket costs £14.90.
The discount is valid from the start of the scheme on Monday until 31 December.
The ticket allows unlimited travel on the day of purchase on Stagecoach or East Yorkshire buses in Hull.
The scheme aims to help with cost-of-living expenses and reduce traffic congestion.
The IRS may need to watch OnlyFans content to determine if creators' earnings qualify under the "no tax on tips" law in President Trump's recently passed bill. This bill exempts certain workers from federal taxes on tips, but the inclusion of OnlyFans creators under this exemption is unclear. The IRS faces challenges in defining what qualifies as tips on platforms like OnlyFans.
Key Facts
The IRS might review OnlyFans content to see if it qualifies for tax exemptions under the "no tax on tips" law.
President Trump's bill, passed in July, aims to remove federal taxes on tips for eligible workers.
OnlyFans creators are not currently clearly included in the tax exemption.
The platform includes different types of content, not just adult material.
Professions like bartenders and waiters are among those already listed for tax exemptions.
OnlyFans reported $7.2 billion in spending on the site in 2024.
The platform has 4.6 million creator accounts globally.
The IRS's approach to reviewing content and determining exemptions is not yet clear.
Bankruptcy filings in the United States have increased significantly in 2025, with both household and business filings rising. The number of total filings reached the highest annual count since 2020, due to financial pressures like higher prices and tighter lending. Notable company bankruptcies this year include Spirit Airlines and Claire's.
Key Facts
U.S. bankruptcy filings increased by 10.6% in the 12 months ending September 30, 2025.
Business bankruptcies rose by 5.6%, and non-business filings climbed by 10.8%.
Total filings for the year reached 557,376, the highest since 2020.
Large corporate bankruptcies in 2025 are nearing a 15-year high, with 655 filings reported so far.
Higher prices, stricter lending conditions, and geopolitical uncertainties contribute to the financial strain on consumers and businesses.
The American Bankruptcy Institute noted a 12% rise in total filings for October 2025 compared to the same month the previous year.
Experts expect financial challenges like high interest rates to continue pushing bankruptcy rates up in the coming year.
Olive Garden has brought back two popular pasta dishes to its menu for the winter season, responding to customer requests. The restaurant hopes to draw more customers by reintroducing these favorite dishes until March 22. This move reflects a trend among restaurants to use new or returning menu items to increase business.
Key Facts
Olive Garden has reintroduced Braised Beef Tortelloni and Ravioli di Portobello.
These dishes will be available until March 22.
The decision followed requests from thousands of customers, including seven petitions on Change.org.
Customers who campaigned for the dishes’ return may get a free entree.
The Braised Beef Tortelloni includes beef, mushrooms, and tortelloni in mushroom sauce.
Other restaurant chains, like Logan's Roadhouse and SONIC, are also offering seasonal menu items.
The strategy is common as restaurants try to boost sales amid economic challenges, like inflation.
The OECD says the UK economy will face challenges due to tax increases and spending cuts, which could slow down growth. The UK is expected to see steady but low economic growth and high inflation compared to other major economies. The OECD predicts that in the coming years, growth will slowly improve, with a slight economic boost expected from lower interest rates and improved global trade.
Key Facts
Tax rises and spending cuts are expected to slow down the UK's economic growth.
The UK economy is forecast to grow by 1.4% this year, then slow to 1.2% in 2026.
Inflation in the UK is projected to be 3.5% this year, the highest among the G7 countries.
UK growth may increase to 1.3% by 2027, after a drop next year.
The Bank of England is expected to cut interest rates, potentially boosting the economy.
UK Chancellor Rachel Reeves indicated that her Budget aims to cut inflation and improve households' cost of living.
The OECD believes careful management of tax and spending is needed due to risks to growth and inflation.
Global economic growth is forecasted to be 3.2% this year but slow in 2026, with a rebound expected in 2027.
Burger King launched a special SpongeBob-themed menu to celebrate the upcoming release of "The SpongeBob Movie: Search for SquarePants." The special items in the menu will be available at Burger King locations across the U.S. starting December 2, 2025, as supplies last.
Key Facts
Burger King created a SpongeBob-themed menu to celebrate the new SpongeBob movie.
The movie, "The SpongeBob Movie: Search for SquarePants," will be released on December 19, 2025.
The menu includes items like SpongeBob’s Krabby Whopper and Patrick’s Star-berry Shortcake Pie.
The Bikini Bottom Bundle includes all themed menu items in a unique pineapple-shaped box.
A special kids' meal comes with collectible SpongeBob toys and a limited-edition crown.
Burger King Royal Perks members can order these items through the app with exclusive deals.
A special Burger King x SpongeBob event will occur in Miami on December 6 and 7.
The Bank of England warns that UK stock values are at their highest risk levels since the 2008 financial crisis, especially for tech companies focused on AI. This warning highlights the potential for a market downturn, fueled by large amounts of debt financing the AI sector. The report also notes potential risks to financial stability from geopolitical tensions and rising interest costs.
Key Facts
The Bank of England reports UK stock values are as stretched as they were in 2008.
There are concerns about a potential market correction in tech, especially AI companies.
AI sector growth is expected to be financed by trillions of dollars in debt.
If AI company values drop, it could impact financial stability.
Global spending on AI infrastructure could exceed $5 trillion.
43% of UK mortgage holders are expected to refinance at higher rates by 2028.
The Bank of England's base rate for borrowing has decreased to 4% from 5.25% in 2024.
Geopolitical tensions are heightening risks of financial instability and potential cyberattacks.
Several restaurant chains in the US are planning to open new locations by 2026. Chains like Layne’s Chicken, Paris Baguette, Sweetgreen, and Via 313 have announced expansion plans. Despite challenges in the industry, these brands are growing due to their strong financial support.
Key Facts
Layne’s Chicken plans to open 44 new locations across West Texas by 2026.
Paris Baguette aims to have more than 500 units in development and operate over 1,000 locations in the US by 2030.
Sweetgreen intends to open 40 new locations by the end of 2025 and an additional 15 to 20 by 2026.
Via 313 plans to expand by opening four to five new stores in 2026 with $32.5 million investment support.
Some restaurant chains are expanding due to strong financial backing that helps them manage costs and grow.
These expansions are occurring even as many smaller restaurants struggle due to increased costs and competition.
Several companies are planning layoffs in December due to various economic factors. These include changes in consumer spending and increased use of artificial intelligence. Employers are providing advance notice to workers about these upcoming job cuts.
Key Facts
Companies must issue WARN notices to give employees advance warning of layoffs.
Layoffs are happening due to economic factors like reduced consumer spending and increased AI use.
Some companies overhired during the pandemic and are now adjusting staff levels.
Tech company Meta plans to lay off between 101 and 250 employees.
Starbucks may lay off up to 1,000 workers according to WARN notices.
Retail and service industries are leaning more on automation, reducing human employment.
Financial experts explain that layoffs are more strategic cuts than abrupt decisions.
Layoffs are seen as a way for companies to show financial discipline to investors.
The U.S. housing market is predicted to slowly recover next year with more affordable options, according to Redfin. Areas like the New York City suburbs and the Midwest are expected to become more attractive to buyers due to lower costs and fewer natural disasters.
Key Facts
Redfin predicts a gradual recovery in the U.S. housing market due to increased affordability.
The recovery is expected to be slow but necessary after years of high home prices and costs.
The New York City suburbs, Midwest, and Great Lakes regions are anticipated to see increased homebuying activity.
Affordability and convenience are key factors driving interest in these regions.
These regions are considered safer from natural disasters, which helps keep insurance costs lower.
Markets that were hot during the pandemic, like Austin and Nashville, are expected to cool down.
High insurance costs and a return to office work have reduced demand in parts of Florida and Texas.
As demand falls and supply increases in these areas, home prices may decrease.
A report by Redfin predicts that U.S. home sales will increase by 3% in 2026, following a slow recovery in affordability. Rising home prices and high borrowing costs have reduced homebuying power this year, but a gradual improvement in affordability is expected as incomes rise faster than home prices.
Key Facts
Home sales are expected to rise 3% in 2026 from 2025.
Rising home prices and high borrowing costs have limited homebuying this year.
From February to May, home sales fell each month compared to the previous year.
In October, 445,607 homes were sold, showing a 2.4% increase from a year ago.
The median home sale price in October was $439,869, up 1.3% from October 2024.
Redfin predicts that mortgage rates will stay in the low 6% range next year.
Improved affordability is expected as incomes rise faster than home prices.
Many people, especially younger buyers, may still find homeownership out of reach.
There is a new analysis suggesting that home prices in Florida could rise by 7 to 9 percent if the state eliminates property taxes, as proposed by Governor Ron DeSantis. While this plan might help current homeowners, it could make homes less affordable for new buyers. Experts express concerns about the financial implications for the state and potential negative effects during economic downturns.
Key Facts
Governor Ron DeSantis proposes eliminating property taxes in Florida.
A Realtor.com analysis indicates home prices could increase by 7 to 9 percent if property taxes are removed.
Eliminating these taxes could raise Florida's housing stock value by $200 billion to $250 billion.
The proposal may benefit current homeowners but make it harder for new buyers to afford homes.
Experts warn that Florida might need to raise sales taxes or find other revenue sources if property taxes are eliminated.
Economists are concerned about the potential negative impact during a recession, noting Florida could face a housing surplus and financial strain.
Newell Brands, the company that owns Yankee Candle, announced it will lay off more than 900 employees and close about 20 stores across North America. This move is part of a plan to improve efficiency and create lasting value for the company. The layoffs are part of a broader trend of job cuts in 2025, affecting many large U.S. employers.
Key Facts
Newell Brands plans to cut over 900 jobs, about 10% of its professional and clerical workforce.
The layoffs will take place mainly in the U.S., with additional global reductions in 2026.
Around 20 Yankee Candle stores in the U.S. and Canada will close by January 2026.
The company aims to create a more agile and high-performing business.
Newell Brands reported a 7.2% decline in net sales in the third quarter, blaming tariffs and retaliatory duties.
The company's turnaround plan aims to save $110 million to $130 million annually.
Restructuring costs are expected to be between $75 million and $90 million.
The company's plan is part of a broader trend of significant layoffs in 2025 in the U.S.
Travel Tuesday is a day when people can find big discounts on travel bookings like flights and hotels. It started in 2017 after data showed the day after Cyber Monday had great travel deals. Travel Tuesday has become more popular, especially in the U.S. and Canada.
Key Facts
Travel Tuesday happens the day after Cyber Monday and offers travel discounts.
The idea began in 2017 when an online company called Hopper found that this day had many travel deals.
On Travel Tuesday, discounts can be up to 50% on flights, hotels, and other travel services.
The number of deals on this day is about two to three times more than on Black Friday and Cyber Monday.
A report found that interest in Travel Tuesday grew five times over two years.
Interest mostly comes from the U.S. and Canada, with some searches from the U.K., Australia, the Netherlands, and Spain.
The day is seen as a "marketing moment" by travel companies to increase bookings during a slow period.
Chipotle is offering free food promotions throughout December 2025 under the campaign called "Unwrap Extra." Customers in the U.S. and Canada can enjoy Buy One Get One (BOGO) deals on certain Saturdays when dining in, and Chipotle Rewards Members will receive extra perks. The initiative also allows customers to donate to the charity "No Kid Hungry."
Key Facts
Chipotle's "Unwrap Extra" campaign runs throughout December 2025.
Starting December 6, BOGO deals are available in participating U.S. and Canada locations.
BOGO deals are offered on the first three Saturdays of December from 4 p.m. until close.
Deals include Taco BOGO, Burrito BOGO, and a BOGO for wearing a festive sweater.
BOGO deals have a limitation of five free entrées per check.
Offers are not valid for catering, online, or delivery orders.
Chipotle Rewards Members will get surprise perks like free guacamole and drinks.
Customers can donate to "No Kid Hungry" through app or website purchases from December 3 to December 22.
In 2025, Arby's has closed more than a dozen restaurants across various states in the U.S. due to financial challenges. Despite this, Arby's remains a strong player in the fast-food sandwich market, ranking third in sales among similar chains in the U.S.
Key Facts
Arby's has shut down restaurants in several U.S. states, including Tennessee, California, Delaware, Florida, Maryland, New Jersey, Washington state, and South Carolina.
Tennessee saw four closures, with locations closing in Cordova, Germantown, Memphis, and Murfreesboro.
In Florida, four Jacksonville-area Arby's locations closed early in 2025.
Arby's had a 6.3% sales decline in 2024 and closed a net 48 restaurants, which is about 1.4% of its total.
Arby's is part of Inspire Brands, which owns six chains including Dunkin’ and Baskin-Robbins.
Despite the closures, Arby's ranked third in U.S. fast-food sandwich chain sales in 2024, behind Subway and Panera.
Shein and Temu, fast-fashion companies, are under pressure in the U.S. due to calls for investigations into alleged forced labor and intellectual property theft. Texas Attorney General Ken Paxton is investigating Shein, while Senator Tom Cotton has requested a federal investigation into both companies. Shein has expressed willingness to cooperate with the Texas investigation.
Key Facts
Shein and Temu are fast-fashion companies facing calls for investigations in the U.S.
The investigations focus on claims of forced labor and intellectual property theft.
Texas Attorney General Ken Paxton is investigating Shein.
Senator Tom Cotton has requested a federal investigation into Shein and Temu.
Shein stated it will cooperate with Attorney General Paxton's investigation.
Shein's headquarters is in Singapore, but most products are made in China.
The U.S. has changed rules on low-cost shipments, affecting imports from China.
Shein is also under scrutiny in Europe for various concerns, including safety and environmental impact.
A report by Oxford Economics shows that housing affordability in the U.S. is worse than five years ago. High home prices and increased mortgage rates are major factors making it difficult for many people to buy homes. Only 38% of U.S. households can now afford a home, a drop from 57% in 2020.
Key Facts
Housing affordability is worse than it was five years ago in the U.S.
The median income needed to buy a home is $110,100, which is nearly double what was needed in 2020.
Only 38% of U.S. households have the income necessary to afford a home, down from 57% in 2020.
Mortgage rates have increased significantly, doubling monthly housing costs for many people.
The least affordable areas include San Jose, San Francisco, Honolulu, Los Angeles, and San Diego.
The share of first-time home buyers has dropped to 21%, the lowest on record.
A national home shortfall of about 1.5 million is a significant issue affecting housing costs.
High mortgage rates have had a greater impact on affordability than rising house prices.
Costco has taken legal action against the U.S. government, aiming for a full refund of tariffs if the Supreme Court rules against President Trump's authority to impose them. The case challenges Trump's use of emergency powers under the International Emergency Economic Powers Act. Earlier courts have already decided that Trump overstepped his authority, but the Supreme Court will have the final say.
Key Facts
Costco filed a lawsuit to get a refund on tariffs if the Supreme Court rules against President Trump's authority.
The lawsuit claims the tariffs are illegal because they were imposed without Congress's approval.
Lower courts have previously ruled that Trump's use of emergency powers for tariffs was unlawful.
Trade data shows importers, including Costco, have paid around $90 billion in these tariffs.
Costco filed the suit before a December 2025 deadline to ensure a chance to recover the funds.
The Supreme Court justices have shown doubt about the president's authority to impose tariffs without congressional approval.
President Trump argues that emergency powers allow him to impose global tariffs.
The Trump administration says overturning the tariffs could limit negotiation abilities and result in financial losses to the treasury.
