Elon Musk and California Governor Gavin Newsom are involved in a public dispute on social media. The argument started when a political group associated with Musk criticized Newsom's policies on transgender athletes, leading to an exchange involving Musk's estranged transgender daughter. The disagreement highlights ongoing tensions over policy decisions and personal differences.
Key Facts
Elon Musk and Governor Gavin Newsom are publicly disagreeing, primarily over transgender issues.
The argument began when a political group linked to Musk posted about Newsom's comments on transgender athletes.
Newsom's press office responded with a personal remark about Musk's relationship with his transgender daughter.
Musk replied, correcting the mention of his children and expressing love for them.
Musk's transgender daughter, Vivian Jenna Wilson, legally changed her name and has publicly criticized him.
Newsom and Musk have disagreed before, including over a California law about school notifications on gender identity.
Musk moved the headquarters of SpaceX and his social media platform from California to Texas after their last conflict.
The article discusses challenges faced by American farmers and President Donald Trump's recent $12 billion bailout to support them. It highlights ongoing economic difficulties due to high costs and trade issues, suggesting that more comprehensive policies are needed to truly help small farms.
Key Facts
President Trump announced a $12 billion bailout for farmers hit by trade tariffs.
A new $700 million program aims to boost soil health and regenerative farming practices.
Since 2020, costs for seeds, fuel, fertilizer, labor, and interest have increased significantly.
The U.S. has lost about 160,000 farms from 2017 to 2024.
Trade tensions have led China to buy more soybeans from Brazil and Argentina instead of the U.S.
Farmers are struggling due to market dominance by a few large companies.
Some bailout funds may end up benefiting big corporations rather than small farmers.
Liability shields and reduced regulation are controversial, especially concerning agrochemicals.
Calvin McDonald, the CEO of Lululemon Athletica, will step down at the end of January after over seven years in the role. The decision follows a period of declining sales in the U.S. and a significant drop in the company's share price. Despite these challenges, Lululemon has recently seen better-than-expected sales and improved international performance, particularly in China.
Key Facts
Calvin McDonald will leave his position as CEO of Lululemon at the end of January.
Lululemon's sales have declined in the U.S., but international sales, especially in China, have improved.
The company's share price has fallen by nearly 50% over the past year.
President Donald Trump's tariffs on imports have negatively impacted Lululemon, with estimated extra costs of $240 million this year.
Meghan Frank and André Maestrini will serve as interim co-chief executives.
The company has faced rising competition from brands like Vuori and Alo Yoga.
Under McDonald's leadership, Lululemon both reached significant growth and faced challenges, such as withdrawing a product line due to customer complaints.
The Financial Conduct Authority (FCA) fined Nationwide £44 million for not having effective systems to detect financial crime from 2016 to 2021. Nationwide acknowledged its shortcomings and stated it's improved its systems since 2021. The FCA highlighted a case where £26 million in fraudulent payments were missed by the building society’s monitoring systems.
Key Facts
Nationwide was fined £44 million for inadequate financial crime controls between 2016 and 2021.
The FCA identified Nationwide's systems as ineffective for assessing risk and monitoring customer transactions.
A notable case involved £26 million in fraudulent furlough payments deposited into a single account over eight days.
Nationwide cooperated with the investigation and has since strengthened its crime control systems.
During the period examined, Nationwide did not offer business accounts, but some personal accounts were used for business, escaping proper monitoring.
£27.3 million in total fraudulent payments were made, with most funds recovered by tax authorities.
The FCA criticized Nationwide for delayed actions in addressing system weaknesses.
Nationwide acknowledged the failures and committed to preventing financial crime in the future, stating that no customer losses occurred.
Gatwick Airport will increase its drop-off charge to £10, starting on January 6, 2024. The airport attributes the price hike to rising business costs and aims to encourage the use of public transport. Despite this increase, Gatwick offers free drop-off options at long-stay car parks.
Key Facts
Gatwick Airport's drop-off charge will rise to £10 on January 6, 2024.
The charge allows drivers to stop outside the terminal for 10 minutes.
Gatwick says the increase is due to higher business costs, such as doubled business rates.
The drop-off fee began at £5 in March 2021 and has been rising since.
Free drop-off is available at long-stay car parks, with shuttle buses to the terminal.
Blue Badge holders are exempt from the drop-off charge.
Gatwick encourages more public transport use to reduce car congestion.
Despite other airports increasing their charges, Gatwick remains the highest in the UK.
Prada is launching a special line of sandals inspired by traditional Indian Kolhapuri shoes. The sandals will be made in India and be available for sale in 2026 after the company faced backlash for using the design without acknowledging its origins.
Key Facts
Prada announced it will sell 2,000 pairs of Kolhapuri-inspired sandals.
These sandals will be made in Maharashtra and Karnataka, India.
The sale of these sandals will start in February 2026 online and in 40 Prada stores globally.
Each pair will cost about $930.
The agreement to make these sandals was signed during the Italy-India Business Forum 2025.
In June, Prada faced criticism for using a design similar to Kolhapuri sandals without mentioning its Indian origin.
About 200 Indian artisans will receive training in Italy as part of this initiative.
The local government will support artisans with finances and specialized training.
The UK economy shrank by 0.1% in October, which was unexpected because experts had predicted a small increase. This economic change was surprising and went against previous forecasts.
Key Facts
The UK economy shrank by 0.1% in October.
Experts had predicted a slight growth instead of a decrease.
This economic contraction was unexpected.
Economic forecasts had anticipated an expansion.
The data is from October, and the article was first shown on December 12, 2025.
Several products sold on Amazon have been recalled across the United States due to safety issues noted by the U.S. Consumer Product Safety Commission (CPSC). The recalled products, which include children's costumes and household items, pose health and safety risks. Consumers are advised to stop using these products and follow instructions for refunds.
Key Facts
The U.S. Consumer Product Safety Commission (CPSC) announced recalls for multiple products sold on Amazon due to potential hazards.
Products include children’s costumes, infant walkers, steamers, baby bath seats, and ice crushers.
The children's costumes contain banned toxic chemicals known as phthalates that could harm children.
Infant walkers and bath seats pose risks of serious injury or death due to design flaws.
Steamers have been reported to leak hot water, which led to burn injuries in several cases.
The products were sold nationwide and mainly distributed by third-party sellers on Amazon.
No injuries were reported for most recalled items, but consumers are urged to stop using them and seek refunds.
Workers at a Guinness canning factory in Belfast have gone on an eight-day strike to protest their pay. They want wages that match those at a similar factory in England owned by the same company, Diageo. The company has stated that it has plans to ensure there is no disruption to Guinness supplies during the strike.
Key Facts
About 90 workers at the Guinness canning factory in Belfast are on strike over pay issues.
The strike started on Friday and is expected to last until 06:59 GMT on 20 December.
The workers are represented by the trade union Unite.
Workers are seeking higher pay to match that of employees at a Diageo site in Runcorn, England.
Diageo has contingency plans to ensure no disruption of Guinness supplies.
Diageo is a large, profitable drinks company reporting over $2.5 billion in profits this year.
The Belfast factory is one of over 110 manufacturing sites operated by Diageo globally.
Diageo has invested £41 million in upgrading the Belfast and Runcorn packaging sites.
New home listings in the U.S. have experienced the largest drop in two years, with both buyers and sellers stepping back from the market. Recent data shows a decline in pending home sales and new listings as affordability issues continue to affect the housing market.
Key Facts
New home listings in the U.S. fell 1.7% year-over-year during the four weeks ending December 7.
Pending home sales dropped 4.1% from a year earlier in the same time frame.
The median sale price of a U.S. home in October was $439,917, a 1.3% increase from the previous year.
Significant declines in new listings were noted in cities like San Antonio, Texas, and Tampa, Florida.
In Florida, the median home price in October was $408,500, a slight decrease from October 2024.
Texas saw the median home price at $341,500, also a slight decrease from October 2024.
Delisting of homes increased by 45.5% across the U.S. in October since the start of the year.
The average 30-year fixed mortgage rate was 6.36% as of December 10.
The UK's economy unexpectedly shrank by 0.1% in October. Economists had predicted it would grow by 0.1%, but a decline in manufacturing, especially in car production, contributed to the downturn.
Key Facts
The UK's economy decreased by 0.1% in October.
Experts expected a 0.1% growth instead of the decline.
The overall economy also fell by 0.1% over three months ending in October.
Manufacturing output dropped, particularly in car manufacturing.
A cyber-attack affected Jaguar Land Rover's production, reducing vehicle manufacturing by 17.7%.
Car manufacturing started to improve slightly in October.
Production output increased by 1.1% after manufacturing resumed.
The government plans to boost growth by reducing energy costs and investing in infrastructure.
The article argues that veterans possess valuable skills suitable for leading businesses, especially as many baby boomer business owners retire. Veterans have experience in leadership, problem-solving, and crisis management, making them ideal candidates for taking over established companies.
Key Facts
Veterans are suggested as leaders due to their experience in crisis management and team alignment.
Each year, about 200,000 service members transition from military to civilian life.
Nearly 40% of U.S. small businesses are owned by retiring baby boomers.
Entrepreneurship through acquisition (ETA) involves buying and running existing businesses.
Military skills such as project management, data analysis, and logistics align with business needs.
Some major companies, like Nike, Walmart, and FedEx, were founded by veterans.
Programs are in place to help veterans transition into the workforce and leadership roles.
Approximately 80,000 veterans and military spouses receive support each year for employment transitions.
Gas prices in the United States have fallen to their lowest level in over four years, with the national average falling below $3 per gallon. This decrease is due to seasonal factors like increased refinery output and low oil prices, not specific government actions.
Key Facts
Gas prices have dropped significantly in states like Arizona, California, Oregon, and Washington.
As of a recent Friday, the national average price for a gallon of regular gas was $2.922 according to GasBuddy, and $2.932 according to AAA.
President Trump attributed the lower gas prices to the strong economy, but experts say global factors are the primary reasons for the decrease.
Gas has been below $3 per gallon since December 2, 2024, which is beneficial for holiday travelers.
The lower gas prices are expected to lead to a record 122.4 million Americans traveling this holiday season.
Current gas prices are still higher than pre-pandemic levels, which were $2.58 per gallon in December 2019.
No state had an average gas price as low as $1.99, although some stations offered that price.
The article discusses the significant impact of AI-related stocks on the stock market, particularly emphasizing Nvidia's role. OpenAI's CEO, Sam Altman, highlights the need for substantial energy resources to support AI growth, despite financial losses. The narrative also explores differing views on whether AI investment is a bubble, featuring opinions from various industry figures.
Key Facts
AI stocks have contributed to about 75% of the S&P 500's total returns since 2022.
Nvidia's stock alone accounted for 18% of the S&P 500's gains this year.
OpenAI reported a $12 billion loss in the third quarter of 2025.
OpenAI aims to add 100 gigawatts of new energy capacity in the U.S. annually.
Nvidia's market value dropped significantly from a $5 trillion peak.
A deal between Oracle and OpenAI led to a temporary surge in Oracle's stock, later offset by financial setbacks.
Investor Michael Burry, known for predicting the 2008 financial crisis, is betting against Nvidia and Palantir by using put options.
Industry experts hold mixed views on whether the AI market is experiencing a speculative bubble.
After Zohran Mamdani became mayor of New York City, predictions that wealthy people would leave for Florida did not come true. Instead, both luxury home sales and Manhattan apartment rents in New York City have increased since his election.
Key Facts
Zohran Mamdani won the New York City mayoral election recently.
Predictions suggested rich people would leave New York for Florida after Mamdani's victory.
Luxury home sales in New York City rose by 31% in November compared to October.
176 contracts for homes priced at $4 million or more were signed in November, a 25% increase from October.
Manhattan apartment rents reached a record high, with new leases signed at a median of $4,750, up 13% from a year earlier.
The top 10% of Manhattan rental prices increased by 18% to a median of $11,500 in November.
Experts say there is no evidence of a mass exodus of wealthy residents from New York City.
President Donald Trump signed an executive order to prevent U.S. states from enforcing their own regulations on artificial intelligence (AI), aiming for a unified national standard. This decision supports technology companies that prefer consistent rules across the country but faces opposition from states like California, which has its own AI laws.
Key Facts
President Trump signed an order to stop states from having their own AI rules.
The goal is to have one national set of rules instead of different state rules.
White House AI adviser David Sacks said this will help avoid "onerous" state rules.
The order does not stop AI rules about children's safety.
Tech companies say different state rules can slow U.S. innovation in AI.
California's Governor Gavin Newsom, a critic of Trump, opposes the order.
California, Colorado, and New York already have their own AI regulations.
Critics argue state laws are needed to protect people from risks of unregulated AI.
A New York judge sentenced Do Kwon, co-founder of Terraform Labs, to 15 years in prison for misleading investors about TerraUSD and Luna, two digital currencies. The collapse of these currencies resulted in an estimated $40 billion loss.
Key Facts
Do Kwon, a South Korean national, co-founded Terraform Labs.
Terraform Labs developed TerraUSD and Luna digital currencies.
The collapse of these currencies caused an estimated $40 billion loss.
A New York judge sentenced Kwon to 15 years in prison for fraud.
Kwon admitted misleading investors about TerraUSD's value stability.
When TerraUSD's value fell in 2021, Kwon falsely claimed an algorithm restored its value.
The fraud led to severe financial harm, according to the judge.
Kwon pleaded guilty to conspiracy to defraud and wire fraud.
A group of UK Members of Parliament (MPs) has started an inquiry into the role of the Office for Budget Responsibility (OBR), the government's economic forecasting body. This happens after criticism over OBR's influence on government decisions and an error that led to an early release of a key economic forecast. The inquiry will review the OBR's work and suggest potential changes.
Key Facts
MPs are investigating the role and effectiveness of the Office for Budget Responsibility (OBR).
The inquiry looks into the OBR's first 15 years and considers possible reforms to its operations.
The investigation follows the resignation of OBR chair Richard Hughes after a forecast was published early.
Concerns were raised about the OBR's influence over government tax and spending decisions.
The OBR was criticized for lowering productivity forecasts, but this was later offset by higher tax receipts.
Present inquiries also address several leaks of information before the Budget announcement.
The OBR was established in 2010 to provide independent analysis of UK government finances.
Paramount-Skydance is trying to take over Warner Bros Discovery, a major media company. The bid has raised issues about conflicts of interest, especially due to ties between Paramount's financial backers and President Donald Trump's administration.
Key Facts
Paramount-Skydance has bid $108 billion to take over Warner Bros Discovery.
Warner Bros Discovery owns major properties like CBS and Comedy Central.
Paramount's bid involves funding from Jared Kushner's firm and both Saudi and Qatari wealth funds.
Jared Kushner is married to Ivanka Trump and was an advisor in President Trump's first term.
Concerns about conflicts of interest and freedom of expression are part of the debate.
Netflix also bid $82.7 billion for Warner Bros, raising antitrust concerns.
President Trump has expressed no current friendship with Paramount or Netflix but plans to be involved in decision-making about Warner Bros.
CBS News, owned by Paramount, settled a lawsuit with Trump over an interview for $16 million.
The former CEO of Abercrombie & Fitch, Mike Jeffries, has been declared fit to stand trial on sex-trafficking and prostitution charges. After treatment for several months, medical experts found him competent. He and two others face allegations related to an international sex-trafficking operation, which they deny.
Key Facts
Mike Jeffries, ex-CEO of Abercrombie & Fitch, is charged with sex-trafficking and prostitution.
He was previously deemed "mentally incompetent" due to health issues, but is now considered fit for trial.
Jeffries, along with Matthew Smith and James Jacobson, deny the charges against them.
They are accused of exploiting aspiring models worldwide from 2008 to 2015.
These charges could lead to a maximum life sentence if they are found guilty.
Abercrombie & Fitch is required to pay for Jeffries' legal defense due to an indemnification agreement.
More than 40 men have made civil allegations of rape and sexual assault against Jeffries and others.
A final competency hearing is planned for early 2026, with a trial potentially scheduled for October 2026.
