A JP Morgan analysis suggests that Costco will benefit more than other retailers from larger tax refunds due to President Trump's tax cuts. The tax changes are expected to increase retail sales as consumers have more money to spend. Tax refunds will increase by about $1,000 on average per household.
Key Facts
JP Morgan reports that larger tax refunds will benefit Costco the most among retailers.
President Trump's tax cuts, called the Working Families Tax Cuts, are causing tax refunds to increase.
The average household tax refund is set to increase by about $1,000.
Tax changes are expected to boost core retail sales by over 1 percent.
Costco benefits more because it attracts mid to high-income shoppers.
By 2026, tax refunds will be $65 billion higher than the previous year.
The One Big Beautiful Bill Act contributes between $135 billion and $140 billion in consumer stimulus.
The child tax credit increased to $2,200, affecting 90 percent of taxpayers.
Self-proclaimed billionaire Grant Cardone is selling his private jet due to a major drop in bitcoin's value. Bitcoin has lost over 22% of its value in the past month, affecting many investors. Cardone's decision comes as investors are pulling out of digital currencies amidst concerns about future regulations.
Key Facts
Grant Cardone announced he is selling his private jet after the bitcoin price dropped.
Bitcoin's value fell more than 22% over the past month.
Cardone referred to his jet as a "2024 Bombardier Global 7500."
Cardone has called himself a billionaire, but Forbes does not include him on its billionaire list.
He runs Cardone Capital and Cardone Training Technologies Inc.
Bitcoin is a digital currency on a blockchain, with limited supply like gold.
The White House recently discussed cryptocurrency regulations with banks and crypto companies.
Bitcoin hit a high of $126,210.50 in October 2025 but was at about $67,000 this week.
The price of Bitcoin has fallen significantly recently, reaching its lowest point in over a year. This drop is attributed to less interest from investors, driven by large sell-offs in global stock markets and changes in investments like exchange-traded funds (ETFs). The overall market conditions, including fluctuations in gold and silver prices, have also contributed to Bitcoin's decline.
Key Facts
Bitcoin's price fell below $66,000 and was around $62,900 on Friday morning.
Bitcoin reached an all-time high of over $127,000 in October last year.
Since the start of the year, Bitcoin has dropped about 30%.
Volatility in global stock markets and precious metal prices contributed to the decline.
Institutional investors and ETFs are selling more Bitcoin than they are buying.
Outflows from Bitcoin-focused ETFs amounted to billions of dollars in recent months.
Lower trading interest and volume have reduced market liquidity, which affects prices.
A period known as "crypto winter" is characterized by ongoing low prices in the crypto market.
Bitcoin's price has dropped to below $67,000, falling from high levels reached after President Trump began his second term. This decline reflects broader concerns about cryptocurrency regulation and reduced investor interest in speculative assets.
Key Facts
Bitcoin's price decreased 11% to $67,000, down from a high of $126,210.50 on October 6.
Bitcoin's value is now lower than when President Trump started his second term.
Investors are worried about future cryptocurrency regulation in Washington.
Efforts to regulate stablecoins face opposition from the banking industry.
Investors withdrew $5.7 billion from spot bitcoin ETFs from November to January.
Companies focused on cryptocurrency, like Coinbase and Robinhood, saw significant stock price drops.
American Bitcoin, related to Trump's family, fell by 6.6% and has decreased over 80% since October 7.
Hims & Hers, a telehealth company, plans to launch a cheaper, off-brand pill similar to the weight-loss drug Wegovy. The original drugmaker, Novo Nordisk, intends to sue Hims for selling what it calls an unapproved and untested copy. This move comes as Hims tries to take advantage of the growing demand for GLP-1 weight-loss drugs.
Key Facts
Hims & Hers announced a cheaper version of the Wegovy weight-loss pill.
Novo Nordisk, the creator of Wegovy, plans to sue Hims for selling an unauthorized version.
Wegovy was originally available as an injection and recently came out in pill form.
Hims has offered compounded versions of weight-loss drugs which are customized and not under strict federal control.
Hims will sell their version starting at $49 for the first month, then $99 monthly, compared to Novo's $149 monthly price.
The FDA warned Hims previously about "false and misleading" marketing language.
Compounded drugs are allowed when in shortage or personalized for a patient.
Shares of Novo Nordisk dropped by over 8% following Hims' announcement.
Bank of England Governor Andrew Bailey expressed surprise about emails between former business secretary Lord Mandelson and Jeffrey Epstein. The emails allegedly show Mandelson advising a bank executive to pressure the UK's Chancellor during the 2008 financial crisis over a proposed tax on banker bonuses. Bailey discussed the ethical concerns surrounding these communications.
Key Facts
Andrew Bailey is the Governor of the Bank of England.
Bailey was "shocked" by claims involving Lord Mandelson and Jeffrey Epstein.
Emails reportedly show Mandelson advising JP Morgan's boss, Jamie Dimon, to pressure UK Chancellor Alistair Darling.
During the financial crisis, there were government bailouts and proposed taxes on banker bonuses.
Bailey helped stabilize the UK's banking sector during the 2008 financial crisis.
Bailey expressed ethical concerns about the lobbying implied by the emails.
Alistair Darling, the UK Chancellor at that time, has since passed away.
Argentina and the United States have agreed to cut tariffs on each other's goods. This trade deal aims to open Argentina's economy and help lower food prices in the U.S.
Key Facts
Argentina and the U.S. agreed to reduce tariffs on goods from both countries.
President Javier Milei supports opening Argentina's economy.
President Trump aims to reduce food costs for Americans.
The deal involves cutting hundreds of tariffs reciprocally.
Argentina's economy has been separated from global trade for some time.
The agreement also reflects Argentina's political alignment with the U.S.
Benjamin Wegg-Prosser, the head of the lobbying firm Global Counsel, announced his resignation following information about links between the company and Jeffrey Epstein. The firm was co-founded with Peter Mandelson and has worked with clients like Shell and TikTok.
Key Facts
Benjamin Wegg-Prosser is resigning from his position at Global Counsel.
Global Counsel is a lobbying firm co-founded by Peter Mandelson and Wegg-Prosser.
The resignation follows the release of files related to Jeffrey Epstein.
Wegg-Prosser claimed he had not done anything wrong.
Global Counsel has had clients such as Shell and TikTok.
Peter Mandelson resigned from the board of Global Counsel in 2024.
Wegg-Prosser's profile was quickly removed from the company's website after his announcement.
Brad Karp, chairman of the law firm Paul Weiss, has stepped down. His resignation follows the release of emails showing his contact with Jeffrey Epstein, a convicted sex offender. Karp will still work at the firm but not as chairman.
Key Facts
Brad Karp resigned as chairman of Paul Weiss, a major law firm.
Emails showed Karp had exchanges with Jeffrey Epstein.
Jeffrey Epstein was a convicted sex offender who died in 2019.
The law firm, Paul Weiss, stated it never represented Epstein.
Karp has been with the firm for 40 years and was chairman since 2008.
Karp mentioned that recent news reports about him were a distraction for the firm.
California celebrated a new development in its high-speed rail project as Governor Gavin Newsom visited a newly completed facility in Kern County. This facility will support the installation of tracks for the rail system, which is the only one under construction in the United States. The project has already generated significant economic activity and job growth in the state.
Key Facts
Governor Gavin Newsom visited Kern County to mark the completion of a new railhead facility.
The facility will help with track installation and electrification of California's high-speed rail system.
The project aims to have a high-speed rail line from San Francisco to Los Angeles/Anaheim.
Over 80 miles of the rail line are completed with several structures ready in the Central Valley.
The rail project has contributed approximately $25 billion in economic output in California.
Since 2006, the project has generated about 122,000 jobs and supported California's economy.
The facility's completion means materials can be staged for the next phase of track construction.
California is in talks with private-sector partners to speed up the project.
Bloom Energy, a company that makes fuel cells for generating power, has seen a significant increase in its stock price due to the high demand for energy, especially from data centers. These centers, part of the booming AI industry, need quick and reliable electricity, which Bloom Energy provides faster than traditional power sources. The company's fuel cells use natural gas to produce energy and have recently gained attention from big players in both the AI and energy sectors.
Key Facts
Bloom Energy’s stock price increased by more than 400% over the past year.
The company creates fuel cells that emit less pollution and generate power using natural gas.
Major deals have been made with companies like Oracle and others in the AI and energy industries.
Bloom Energy's technology allows for faster on-site power compared to traditional electric grids.
Increased demand from data centers has boosted Bloom Energy’s sales and investor interest.
The company was founded 25 years ago and initially focused on clean-energy solutions.
Bloom has faced past controversies related to corporate governance and financial disclosures.
Analysts have mixed views on the company's long-term prospects, noting competitive and supply risks.
Pandora plans to shift from using silver to platinum in some jewelry products because the price of silver has significantly increased. The company aims to reduce its use of silver to 25% of its offerings by 2028. Pandora believes platinum offers better durability and that customers are open to this change.
Key Facts
Pandora is a major jewelry retailer.
Silver prices have more than doubled over the past year.
Pandora will lower its use of silver to about 25% in its jewelry.
The company plans to make the switch to platinum by 2028.
Pandora's customer tests show good acceptance of platinum's durability.
Platinum offers better everyday wear compared to silver.
Mexico has increased tariffs on over 1,400 products from countries without free trade agreements, like India, which is impacting Indian businesses. This follows similar tariffs imposed by the U.S. under President Trump's administration. Indian businesses, including a steel manufacturer heavily reliant on U.S. and Mexican markets, are experiencing reduced sales due to these tariffs.
Key Facts
President Trump imposed a 50% tariff on Indian products, affecting trade.
Mexico also imposed tariffs of 5% to 50% on products from non-free trade countries, including India.
Indian businesses, such as Pankaj Chadha's steel company, report a 50% drop in sales to the U.S. and Mexico.
Mexico claims the tariffs aim to boost local production and protect jobs.
Indian exports to Mexico totaled $5.6 billion in 2024, including vehicles and electronic equipment.
Mexico is trying to align its tariff policies with the U.S. due to trade pact reviews.
The Indian government offers some relief by allowing SEZs to sell products domestically at lower duties.
Chadha says Mexican tariffs disadvantage India compared to competitors with Mexican free trade agreements.
Amazon has recalled two children's products because they do not meet safety standards. The U.S. Consumer Product Safety Commission (CPSC) warns these items pose a risk because children can access the batteries, which could lead to severe injuries or death if swallowed.
Key Facts
The U.S. Consumer Product Safety Commission issued recalls for two products sold on Amazon due to safety concerns.
These products include Dresbe LED Christmas Headbands and Kitosun Submersible LED Lights.
The recall was announced on February 5, 2026, after products failed to meet federal battery-safety requirements.
The products contain button-cell or coin batteries, which children can easily access.
Swallowing these batteries can cause internal burns or death.
Buyers are advised to stop using the products immediately and contact the companies for refunds.
No injuries have been reported so far.
Amazon states they investigate safety complaints and stop selling recalled products immediately for customer safety.
The average house price in the UK has risen above £300,000 for the first time, according to Halifax, a major mortgage lender. The increase in house prices is balanced by higher wage growth since 2022, making homes slightly more affordable.
Key Facts
Halifax reported that the average UK house price was £300,077 in January.
The average price rose by 0.7% last month, reversing a 0.5% decrease in December.
House prices are now 1% higher than they were a year ago.
Wage growth has surpassed house price growth since 2022, improving affordability.
Many lenders, including Halifax, are offering mortgage deals that need smaller deposits.
The Bank of England hinted at possible interest rate cuts this year, which could lower mortgage rates.
Nationwide, another lender, reported a different average house price of £270,873 in January.
Gold prices in Lebanon have been changing quickly, causing confusion among jewelers. Economic instability in Lebanon and globally is linked to these gold price changes, but the exact reasons are unclear.
Key Facts
Gold price recently fluctuated between $4,600 and $5,595 per troy ounce.
Lebanon has faced an economic and banking crisis since 2019.
Many Lebanese buy gold to protect their money from inflation.
President Trump’s actions are seen as contributing to global instability.
Jewellers report a slowdown in business due to unpredictable gold prices.
Analysts do not agree on the reasons for the gold price changes.
JP Morgan analysts predict gold prices could rise by 30% by 2026.
Coca-Cola is stopping the production of Minute Maid's frozen juice concentrates in North America after 80 years. The decision is due to changes in consumer preferences, with more people wanting healthier drink options. The phase-out will begin in early 2026, and no replacement products have been announced.
Key Facts
Coca-Cola is discontinuing Minute Maid's frozen juice concentrates in North America.
The phase-out will start in the first quarter of 2026.
The decision is due to changing consumer preferences, with a demand for low-calorie and zero-sugar drinks.
Coca-Cola is focusing on healthier beverage options, like zero-sugar drinks and premium dairy products.
Henrique Braun will become Coca-Cola’s CEO in March 2026.
The frozen juice lines were among Minute Maid’s longest-running products.
Consumers expressed sadness about the discontinuation on social media.
Bitcoin's value dropped by nearly 14% on Friday, continuing a trend of losses from the past week. The cryptocurrency's price has decreased by about one-third since the start of the year. This decline occurs amid challenges such as geopolitical tensions, regulatory uncertainties, and broader financial market sell-offs.
Key Facts
Bitcoin's price fell almost 14% on Friday, reaching around $62,900.
The cryptocurrency has lost about one-third of its value since January.
Bitcoin's price briefly reached $100,000 after President Trump's re-election in 2024.
The price has been declining since October, after peaking at over $127,000.
A Trump-supported bill to regulate digital assets is stalled in the US Senate.
The Trump-related cryptocurrency firm, World Liberty Financial, is under scrutiny for a $500 million investment deal.
Global stock markets, including the S&P 500 and Nasdaq, also saw declines this week.
Prices of commodities like gold and silver have also dropped recently.
People in England and Wales are struggling to sell retirement flats they inherited from relatives, leaving them with high annual costs. These flats, which are only for older buyers, often stay empty for a long time despite price reductions. Families face high service charges, ground rent, and taxes while trying to sell these properties.
Key Facts
Many retirement flats in England and Wales sit empty, causing financial strain for families.
Flats are hard to sell because they can only be bought by people over a certain age.
One family reduced their flat's price by £200,000 with no offers.
Annual costs for keeping a flat include service charges, ground rent, and council tax.
An expert estimates 10,000 such properties are empty long-term in privately owned blocks.
McCarthy Stone, a leading developer, has many empty flats despite building new ones nearby.
Some families must pay up to £11,279 a year in charges for empty flats.
Other families around England share similar struggles with vacant properties and accumulating fees.
Canada announced a plan to strengthen its auto industry by encouraging electric vehicle production. This move aims to reduce Canada's dependence on the U.S., following new tariffs imposed by President Trump.
Key Facts
Prime Minister Mark Carney announced the plan to boost the Canadian car industry.
The plan includes financial incentives for carmakers and reintroduces rebates for electric vehicles (EVs).
President Trump imposed a 25% tariff on Canadian cars, impacting auto production.
About 90% of Canadian vehicles are exported to the U.S.
The U.S.-Canada-Mexico (USMCA) free trade agreement is under review but does not currently focus on removing tariffs.
Thousands of Canadian auto workers have lost jobs due to reduced production by major U.S. carmakers in Canada.
Canada also reached new trade agreements with China and South Korea to encourage vehicle manufacturing.
The plan includes reintroducing EV buyer incentives and stronger emissions standards, aiming for EVs to make up 90% of sales by 2040.
