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Business news, market updates, and economic developments
The Supreme Court ruled against President Donald Trump's global tariffs, which were imposed using emergency powers. The decision, made by a 6-3 vote, is a setback to Trump's economic plans, particularly affecting tariffs applied to many countries.
Key Facts
The Supreme Court struck down Trump's global tariffs with a 6-3 decision.
The tariffs were imposed under an emergency powers law.
These tariffs affected nearly every other country.
This is the first major part of Trump's economic agenda reviewed by the Supreme Court.
Justices Samuel Alito, Clarence Thomas, and Brett Kavanaugh disagreed with the decision.
The case drew opposition from various political groups, including those that usually support the Republican Party.
Polls show that many people do not favor the tariffs and are concerned about rising costs.
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A 58-year-old woman named Jennifer Schroeder was asked to train a younger, less-experienced employee who received a promotion over her. She declined, leading to tensions at her workplace and eventually receiving a severance package. Schroeder now advocates against age discrimination, using her experience to inspire others.
Key Facts
Jennifer Schroeder, aged 58, worked in the corporate world for over 20 years.
She was passed over for a promotion in favor of a 25-year-old with no experience.
Schroeder was asked to train the younger employee but refused.
Her refusal led to meetings with HR, and she eventually left the company with a severance package.
Age discrimination is common, with 64% of U.S. workers over 50 having experienced it.
Schroeder now shares her experiences on TikTok to support and guide others dealing with age bias in workplaces.
Videos related to her story have gone viral, attracting millions of views.
Age discrimination includes stereotypes about older employees being less tech-savvy and resistant to change.
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Gasoline prices are expected to rise soon due to a combination of increased oil prices from tensions with Iran and seasonal changes in fuel production. Refineries switch to summer blends, which are more expensive to make, adding to the cost. Analysts also point out that while oil prices impact the market, regional issues at refineries contribute to varying gas prices.
Key Facts
Gasoline prices may rise as oil prices increase because of U.S.-Iran tensions.
Refineries start producing summer blends of gasoline in late February or early March, which cost more to make.
Maintenance and issues at specific refineries in the U.S. can affect local gas prices.
Current inventories of winter-blend gasoline help to temporarily keep prices lower.
Typical seasonal price increases range from 25 to 65 cents per gallon between late February and April-May.
Gas prices are currently low compared to the same time in previous years, starting from a lower point.
Political events, such as possible U.S. actions in Iran, could continue to influence oil markets.
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A social media post describes a situation where a Generation Z employee at a formal company used a music festival photo as her email avatar, which led to a debate about professionalism. The employee did not want to change the photo, leading to her boss intervening to ensure company standards were met. This incident sparked a discussion on social media about generational views on workplace norms.
Key Facts
A Generation Z employee used a music festival photo as her company email avatar.
A colleague suggested replacing the photo with a more professional one, as per company standards.
The employee forwarded the email to her colleague’s boss instead of changing the photo.
The boss clarified that changing the photo was a company requirement and instructed the employee to comply.
Corporate image guidelines typically require professional headshots for client-facing communications.
Different generations have differing views on workplace formalities, with Gen Z often preferring more casual interactions.
The social media discussion included various opinions on professionalism and workplace norms.
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The UK's government finances showed a significant surplus in January due to higher tax collections. This surplus was the largest recorded since 1993, exceeding expectations of financial analysts.
Key Facts
The UK government recorded a budget surplus of £30.4 billion in January.
This surplus is the largest ever for a month since 1993.
It was more than double the surplus from January of the previous year, which was £15.4 billion.
Analysts had predicted a surplus of £23.8 billion.
January typically sees higher tax collection than spending due to self-assessed tax contributions.
The Office for National Statistics (ONS) provided these financial figures.
Retail sales in January increased by 1.8% from December, according to ONS data.
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Workers at the Jacobs Douwe Egberts (JDE) factory in Banbury, set to close this year, are being paid to volunteer at a local food bank. The company allowed teams of five workers to help the Banbury Breadline Project while they still receive their salaries, aiding community members in need.
Key Facts
The JDE factory in Banbury, Oxfordshire, is closing after being in operation for over 60 years.
Workers scheduled to lose their jobs are volunteering at the Banbury Breadline Project food bank.
JDE continues to pay these workers while they volunteer.
The food bank sees about 200 people a week and operates three days a week.
The factory, originally a General Foods plant, faced closure due to high maintenance costs.
The plant will close by the end of 2026.
JDE plant closure affects about 160 employees.
Volunteering at the food bank helps community members and gives workers a chance to contribute locally.
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Pending home sales in the U.S. decreased by about 6% in the four weeks ending February 15 compared to the previous year. This drop reflects a slowdown in the housing market due to high costs and cold weather. In response, some sellers are choosing to remove their properties from the market instead of selling at lower prices.
Key Facts
Pending home sales fell nearly 6% compared to the same period last year.
Homes took an average of 67 days to sell, the longest time since early 2019.
The median home-sale price rose by 1.1% year-over-year.
The average mortgage rate was 6.09%, higher than pandemic-era levels.
The median monthly mortgage payment is now $2,601, nearly at an all-time high.
New home listings dropped by 3.1% year-over-year in the same period.
The total number of homes for sale decreased by 1.5%.
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The United States and Indonesia have signed a deal to reduce US tariffs on Indonesian goods to 19%, down from 32%. The agreement also includes Indonesia reducing trade barriers on over 99% of imports from America.
Key Facts
US tariffs on Indonesian goods will decrease from 32% to 19%.
Indonesia will reduce trade barriers on over 99% of American imports.
The deal affects various sectors, including agriculture, healthcare, seafood, technology, and car-related goods.
The US will provide tariff exemptions on some Indonesian goods, such as specific clothing and textiles.
Indonesia will adopt US standards for car safety, emissions, food, and drug guidelines.
The agreement was signed during Indonesia's President Prabowo's visit to Washington.
The visit was for the first meeting of the Trump-led "Board of Peace" to discuss Gaza's reconstruction.
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Live Nation, a company involved in organizing concerts and selling tickets, reported strong revenue growth and high concert attendance last year. However, the company is facing a lawsuit in the U.S., accused of maintaining a monopoly in the live music industry. This lawsuit claims that Live Nation's practices have led to higher ticket prices and worse service for customers.
Key Facts
Live Nation's revenue increased to $25.2 billion in 2025, which is a 9% rise from the previous year.
The company's operating profit rose by over 50% to reach $1.3 billion.
Last year, 159 million fans attended Live Nation concerts, up from 151 million the previous year.
In early 2026, 67 million tickets were sold, increasing from the same period in the previous year.
The U.S. Department of Justice sued Live Nation in 2024, aiming to break up the company.
The lawsuit claims Live Nation used illegal tactics to maintain its dominance, leading to higher prices and poor services.
The case is expected to go to trial in federal court next month.
Live Nation also owns Ticketmaster, which has faced criticism for high fees and service charges.
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Released emails suggest Jeffrey Epstein considered investing in EMI Records because an associate indicated it could provide access to women. The associate, David Stern, communicated with Epstein about the potential investment, and there were discussions about involving influential figures. Despite these discussions, the investment did not occur, and EMI was eventually taken over by Citigroup.
Key Facts
Jeffrey Epstein thought about investing in EMI Records for potential access to women.
David Stern, Epstein's associate, said the music industry was "related to P," a term Epstein allegedly used for women.
The US Department of Justice released emails showing these discussions.
David Stern had connections to notable figures, including Andrew Mountbatten-Windsor.
The investment did not happen, and Citigroup took control of EMI.
Epstein considered involving business figures like Tommy Mottola in the investment.
Kevin Law, who communicated with Epstein, denied any business deals with him.
KKR, a large private equity firm mentioned in discussions, did not comment.
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In December, the United States saw a larger trade deficit as imports rose significantly. The annual trade deficit in goods for 2025 reached a record high, despite President Trump's tariffs on foreign products. Imports increased due to a rise in demand for tech goods, while the trade deficit with China decreased but grew with Taiwan and Vietnam.
Key Facts
The U.S. trade deficit widened sharply in December 2025.
The 2025 goods trade deficit was the highest on record at $1.24 trillion.
Imports rose nearly 5% last year, driven by tech goods like computer chips.
The trade gap with China decreased by nearly 32% to $202 billion.
The trade deficit with Taiwan doubled to $147 billion and increased by 44% with Vietnam to $178 billion.
Tariffs did not reduce the trade deficit; U.S. factory jobs fell by 83,000.
December imports rose 3.6% to $357.6 billion, with major increases in industrial supplies.
Exports slightly decreased in December, but capital goods export rose with semiconductor sales.
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A Los Angeles home once owned by Frank Sinatra is for sale after 53 years with the same owners. Known as Villa Dorada, the house is listed for $7.5 million and features historic design elements from its original construction in 1929. The home is noted for its connection to Old Hollywood and has attracted attention on social media.
Key Facts
The property is called Villa Dorada and is located in Hollywood's Outpost Estates.
It was built in 1929 and is a 7,400-square-foot Spanish Revival-style house.
The current asking price is $7.5 million.
It has original features like Magnesite floors, fireplaces, and a wood-paneled elevator.
The house was formerly owned by songwriter Jimmy Van Heusen and shared by Frank Sinatra.
Villa Dorada has been owned by the same people for 53 years.
It is noted as a part of entertainment history due to its former famous residents.
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Emails from the U.S. Department of Justice reveal that Jeffrey Epstein was given the chance to invest in a building near the Pentagon in 2016. This potential deal, valued at about $116 million, would have involved him becoming a landlord to the U.S. government. There is no proof that the deal went through.
Key Facts
Jeffrey Epstein was offered a chance to buy into a building near the Pentagon in 2016.
The property's proposed purchase price was approximately $116 million.
Ownership would have made Epstein a co-owner and landlord to the U.S. government.
There is no evidence that Epstein completed the transaction.
An FBI informant described Epstein as a Mossad agent with ties to Israel.
Epstein had connections to Ehud Barak, a former Prime Minister of Israel.
Epstein also had a separate proposal to invest in FBI office buildings.
David Stern forwarded the investment offer and had ties to the British royal family.
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A Canadian government worker turned to Reddit for advice after a job recruiter contacted her through her work email, raising concerns about privacy and ethical behavior. The woman plans to challenge the recruiting agency under Canada’s privacy law to ensure her work email is removed from their records. This incident highlights issues around how recruiters reach out to potential candidates and the importance of maintaining professional boundaries.
Key Facts
A woman from Canada received an email from a job recruiter at her government work email address.
She had previously interacted with this recruiter who contacted her months before by phone.
The woman wondered if it was ethical for the recruiter to use her work email.
She plans to officially challenge the recruitment agency through Canada’s privacy laws.
The law she refers to is PIPEDA, which regulates how companies handle personal information in Canada.
Online users advised her on how to respond, suggesting she firmly address the misconduct.
Experts suggest verifying recruiter legitimacy and maintaining professional communication.
The woman is concerned about the visibility and appropriateness of outside communication in her current job.
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A Southwest Airlines passenger reported frustration over not being allowed to change seats on a flight that was only 60% full. Despite empty rows, the airline enforced its seating policy, which restricts seat changes even when the plane is not full.
Key Facts
A passenger on a Southwest Airlines flight noted that 60% of the seats were occupied, yet passengers could not change seats.
The claim was shared on Reddit, where it sparked discussions among other travelers.
The airline's staff enforced a strict seating policy, even when nearby rows were empty.
Seat assignment policies have become stricter across airlines, impacting flexibility.
The current global average for flight occupancy is around 85%.
Southwest Airlines historically offered open seating but has made changes to align more with other airlines.
The flight in question traveled from Virginia to Dallas.
Southwest Airlines has been contacted for comment, but the details of the case could not be independently verified.
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Prediction markets, which allow people to bet on the outcome of future events, are growing in popularity but are also facing increased examination from regulators. These markets are used to forecast various outcomes, such as election results and economic indicators.
Key Facts
Prediction markets enable people to bet on future events, like elections or economic changes.
These markets are becoming more popular because they can predict outcomes based on collective opinions.
Regulators are looking closely at these markets to ensure they follow legal standards.
People are interested in prediction markets for their ability to provide insights into future trends.
The markets use the wisdom of the crowd, which means they rely on the group's collective knowledge.
Some concerns involve the legality and ethical aspects of betting on certain types of events.
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Prices for everyday items and services have been going up in 2026, affecting many households. Companies in the U.S. are being seen as partly responsible for these increases, partly due to past tariffs and rising costs. Businesses are trying different strategies, like offering cheaper meal deals, to address affordability concerns and maintain customer loyalty.
Key Facts
Prices for home electricity have increased by 6.3% and natural gas by 9.8% over the last year.
Ground beef and coffee prices have risen by 17.2% and 18.3%, respectively, according to the January Consumer Price Index.
Companies such as Stanley Black & Decker, McCormick & Company, and Levi Strauss have announced price hikes due to previous tariffs.
Higher wages and rising health insurance costs also contribute to increased prices, beyond the effect of tariffs.
McDonald's increased prices about 40% since 2019 and is focusing on affordable meal options to attract lower-income customers.
PepsiCo and General Mills have reduced prices on some items due to affordability concerns.
Companies are using economic impact reports to show their contribution to the economy and lessen public blame.
President Trump has referred to affordability issues as a "Democratic hoax," implying political tensions over the issue.
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The U.S. trade deficit rose to about $1.2 trillion last year despite President Trump's tariffs aimed at reducing it. The increase occurred even with a significant drop in trade with China, due to high imports of goods. The White House says that tariff effects might take time to show.
Key Facts
The U.S. trade deficit increased by 2.1% from the previous year, reaching roughly $1.2 trillion.
Tariffs were imposed on goods from almost every country, with a minimum of 10%.
Imports reached a record $3.4 trillion, partly due to rising demand for computer parts and equipment.
Exports hit a new high, although there were declines in U.S. food and car exports.
Trade with China declined, reducing that specific deficit by about 30% to $202.1 billion.
Despite the overall increase, the deficit in goods and services was about $901.5 billion, staying nearly the same as the previous year.
The Supreme Court is reviewing a challenge to the tariffs, which could impact their future validity.
President Trump also signed an order for more tariffs on countries trading with Iran.
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The lobbying firm Global Counsel, co-founded by Peter Mandelson, is preparing to enter administration due to major clients ending their contracts. The links that emerged between the firm and Jeffrey Epstein are said to have contributed to its troubles. Mandelson had resigned from the board in 2024 but remained a shareholder until recently.
Key Facts
Global Counsel is a lobbying firm co-founded by Peter Mandelson.
The firm is preparing to enter administration, a legal process similar to bankruptcy.
This situation arose after important clients cut ties with the firm.
The clients left following reports of connections with Jeffrey Epstein.
Peter Mandelson left the board of Global Counsel in 2024 but was a shareholder until recently.
Benjamin Wegg-Prosser, the other co-founder, resigned as chief executive in February.
The firm previously had high-profile clients like Shell, TikTok, and Barclays.
Sources say the firm's issues are due to "the Mandelson legacy."
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Wells Fargo will pay over $56 million to settle a lawsuit related to claims it violated the Fair Credit Reporting Act. The lawsuit alleges Wells Fargo incorrectly reported mortgage forbearances during the COVID-19 pandemic, affecting borrowers' credit scores.
Key Facts
Wells Fargo agreed to a $56.85 million settlement for a class-action lawsuit.
The lawsuit claims Wells Fargo violated the Fair Credit Reporting Act during the pandemic.
Borrowers with "current" status entering forbearance were allegedly reported as "in forbearance."
California borrowers with mortgages serviced by Wells Fargo may benefit from this settlement.
Eligible borrowers had to have a forbearance starting on or after March 27, 2020.
Final court approval for the settlement is scheduled for April 17.
The CARES Act ensures mortgages in forbearance should remain reported as "current."
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