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Boxing Day shopping in the UK saw fewer people visiting physical stores, with a slight decrease in footfall compared to last year. More people went to retail parks, but overall spending fell, both in stores and online, compared to previous years. Some major brands did not open on Boxing Day, and consumers remained cautious with their spending due to ongoing economic concerns.
Key Facts
Visits to UK high streets on Boxing Day fell by 1.5% compared to 2024, and shopping centres saw a 0.6% decrease.
Retail parks experienced a 6.7% increase in visitors, though it was not enough to significantly boost overall numbers.
Barclays predicted Boxing Day spending would reach £3.6 billion, down from £4.6 billion in 2024.
Overall, people planned to spend less this year on Boxing Day sales, despite some planning slightly higher budgets.
Major retailers like Next, John Lewis, and Poundland kept their stores closed on Boxing Day.
Economic factors like persistently high inflation and expectations of future tax rises have made consumers cautious about spending.
Data showed that festive spending, particularly on electronics, increased slightly but overall remained low compared to previous years.
The trend of extended pre-Christmas discounts and the growth of online shopping has reduced the significance of Boxing Day sales.
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A report suggests that artificial intelligence (AI) could negatively affect Social Security finances by reducing the number of workers contributing payroll taxes. Fewer people working means less tax revenue for Social Security, which might speed up when its funds run out. Experts are considering solutions, but no laws have yet been made to address AI's impact on the system.
Key Facts
Social Security is mainly funded by payroll taxes from workers and employers.
AI could replace jobs, which would reduce the number of people paying into Social Security.
The Social Security trust fund might be empty by 2033 without changes in funding.
Machines might take over many administrative and mid-level jobs, reducing employment.
A study shows up to 30% of work hours could be automated by 2030.
If fewer people work, Social Security will collect less money, potentially worsening its deficit.
There is discussion about increasing payroll taxes or finding other funding sources, but no new laws have been made yet.
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A factory boss in Louisiana rewarded his employees with significant bonuses after selling the company for $1.7 billion. Graham Walker, the CEO of Fibrebond, gave 15% of the proceeds to 540 full-time employees, resulting in average payouts of $443,000 over five years. This sale was part of a transaction where global company Eaton acquired Fibrebond.
Key Facts
Graham Walker, former CEO of Fibrebond, gave $240 million in bonuses to his staff after selling the company.
The bonuses are distributed over five years, with average individual payments of $443,000.
The receiving staff consist of 540 full-time employees.
Fibrebond was sold to Eaton, a global power management company, for $1.7 billion.
The bonuses were a gesture of gratitude to employees who remained through difficult periods in the company's history.
The first bonuses were issued in the second quarter of 2025.
Graham Walker will leave the company at the end of the year.
Eaton continues to honor the bonus commitments to the employees.
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Jack in the Box plans to close dozens of its restaurants as part of its "JACK on Track" strategy to improve financial performance. The restaurant chain will also reduce spending on new developments and has sold Del Taco as part of this plan. The company cited declining sales as a reason for these changes.
Key Facts
Jack in the Box announced plans to close 150 to 200 restaurants under a block closure program.
By December 31, the company aims to close 80 to 120 of these locations.
Since April, 72 restaurants have already closed.
The "JACK on Track" strategy includes selling real estate and cutting costs.
Jack in the Box has sold Del Taco for $119 million to Yadav Enterprises Inc.
Same-store sales, which measure sales in existing outlets without new or closed ones, fell by 7.4% in the fourth quarter.
The company plans to open approximately 20 new restaurants and close 50 to 100 in the current fiscal year.
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The Lean In organization, started by Sheryl Sandberg, has launched a program to help girls aged 11 to 15 develop leadership skills and challenge stereotypes. The program aims to empower young women by teaching them to recognize their strengths, overcome biases, and become leaders in their communities.
Key Facts
Sheryl Sandberg started the Lean In movement with her book in 2013.
The new program targets girls aged 11 to 15.
It teaches girls to build confidence and leadership skills.
The program challenges stereotypes and promotes setting healthy goals.
It helps girls overcome biases and barriers to success.
Lean In Girls encourages girls to become allies and create a more equitable world.
Archana Gilravi oversees the Lean In Girls program.
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Home prices in the U.S. are still rising, though at a slower pace than before. In 2025, challenges such as high prices and borrowing costs have made homeownership difficult, resulting in fewer sales. Some regions with more homes for sale are seeing prices drop, especially where new homes were built during the pandemic.
Key Facts
U.S. median home sale price in early December 2025 was $389,123, a 2% increase from the previous year.
Median asking price for homes was $382,535, up 2.6% from a year earlier.
Home prices rose 60% nationwide since 2019, creating affordability issues.
Homeownership rates dropped to 65% in the second quarter of 2025, the lowest since 2019.
In 2025, home sales fell during traditionally busy months, spring and summer.
Improved inventory in 2025 gave buyers more options and negotiable prices.
States like Florida and Texas, with many new homes, saw year-over-year price drops.
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The article talks about creative ways to handle unwanted Christmas gifts. People are considering regifting, hiding evidence of regifting, or selling gifts online to avoid waste. These practices help manage resources better and keep presents from ending up in landfills.
Key Facts
Many people end up with Christmas gifts they don't need, like clothes that don't fit or unwanted perfumes.
Regifting is a popular option; it's when you give a received gift to someone else who might like it more.
Regifting can help keep gifts from being tossed into landfills, saving an estimated £42 million in unwanted gifts in the UK yearly.
To avoid awkward situations, experts recommend removing any personal notes or labels from regifted items.
Selling unwanted gifts online is another option, with platforms like eBay and Vinted seeing increased listings right after Christmas.
These methods are seen as budget-friendly during economic challenges and help keep homes clutter-free.
The first Sunday after New Year's often sees a spike in online listings for reselling unwanted presents.
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After Christmas, many people return gifts they don't want, which creates a busy period for retailers dealing with these returns. Commonly returned items include clothing, accessories, and electronics due to issues like size mismatches or duplicates. Retailers are using artificial intelligence (AI) to try to reduce the number of returns by helping shoppers choose better before buying.
Key Facts
Americans return tens of billions of dollars worth of Christmas gifts each year.
Returns increase by 25% to 35% after December 26, according to Adobe Analytics.
Commonly returned items include clothing, shoes, accessories, and electronics.
About 20 to 25% of retail sales are expected to be returned, showing the scale of this issue.
Many returned items do not get restocked due to cost issues, leading to waste.
AI is being used by retailers to help reduce returns by assisting consumers in making better purchase decisions.
Returned items contribute to an estimated 8.4 billion pounds of waste in landfills each year.
Traditional gifts like toys and beauty products are less returned post-holiday.
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Consumers Supply Distributing, LLC, is recalling specific dog treat products because of salmonella concerns. The recall affects treats sold in seven states, but no health issues have been reported yet. The recall is a precaution based on FDA testing.
Key Facts
The recall involves 4-pound bags of Country Vet Biscuits-Original Meaty Flavor and Heartland Harvest Dog Biscuits-Meaty Flavor with Chicken.
The concern is potential salmonella contamination, a type of bacteria that can cause illness in pets and humans.
Affected products have a lot code number of 40906513 and UPC numbers 899623000463 and 840227340691.
The treats were sold in Colorado, Iowa, Kansas, Missouri, Texas, Montana, and Nebraska.
The recall resulted from FDA routine testing that found the bacteria in the products.
No illnesses have been reported so far.
Consumers are advised to stop using the treats and return them to the store for a refund.
Customers with questions can contact the company for more information.
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IRS CEO Frank Bisignano says that Americans are expected to receive the largest tax refunds ever in 2026. This prediction is linked to the One Big Beautiful Bill Act (OBBBA), which aims to lower taxes and increase refunds, though it may also increase the national debt.
Key Facts
The IRS predicts the largest tax refunds in U.S. history will occur in 2026.
President Trump's administration points to the One Big Beautiful Bill Act (OBBBA) as the reason for higher refunds.
OBBBA is expected to benefit middle-class Americans and Social Security recipients with reduced taxes.
Critics say the bill could increase the national debt by at least $3.4 trillion.
A report found the average tax refund in 2026 could be about $3,800, up from $3,052 in 2025.
Larger refunds stem from unchanged tax withholding following the bill's passage.
The IRS has set the tax filing deadline for April 15 next year.
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Thousands of jobs at Petrofac, an energy services company, are likely to be saved after its asset solutions business was bought by U.S. company CB&I. Petrofac employs about 3,000 people in the U.K., with a large number in Aberdeen, Scotland. The company had gone into administration due to financial setbacks, including a failed contract and prior investigations.
Key Facts
Petrofac employs around 3,000 people in the U.K., with about 2,000 in Aberdeen.
The firm faced financial trouble due to a failed renewables contract and other issues.
U.S.-based CB&I will buy Petrofac's asset solutions business in early 2026.
The deal is expected to secure jobs for Petrofac's employees.
Petrofac was once a major company, worth approximately £6 billion in 2012.
The company's troubles included a Serious Fraud Office investigation and profit warnings.
CB&I and Petrofac have similar management styles and focus on safety.
Petrofac provides services for oil, gas, and renewables projects and has operations in the North Sea.
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The rise of weight-loss drugs like GLP-1 is affecting gyms in the U.S., with uncertainty about whether users will exercise more or less. Gyms are adapting by offering specialized programs and partnerships related to these drugs to attract and support users.
Key Facts
About 1 in 8 U.S. adults have used GLP-1 drugs for diabetes or weight loss.
It is unclear if these drugs will increase or decrease gym attendance.
Some gyms, like Life Time, are introducing programs to guide members in exercise and diet while using GLP-1s.
Life Time has a program called Miora, providing personalized plans, including the use of GLP-1 medications.
Planet Fitness is exploring partnerships with GLP-1 providers to integrate fitness with drug use.
Gold's Gym offers GLP-1 discounts through a partnership with Idexa360.
Equinox provides training programs for users experiencing weight loss.
Gen Z shows more interest in strength training, leading some gyms to adjust equipment offerings.
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BetMGM is offering new users the chance to use a bonus code for betting on NBA and NFL Christmas Day games. The company offers two types of bonuses depending on the user's location: a $150 bonus with a winning $10 bet in certain states, or a $1,500 safety net for larger bets available in other states.
Key Facts
BetMGM offers a bonus code for new users betting on NBA and NFL games on Christmas Day.
Users in specific states like MI, NJ, PA, or WV can get a $150 bonus after a winning $10 bet.
In other eligible states, users can get a refund up to $1,500 if they lose a bet of that amount.
To use the bonus, create an account, enter the code, and place the initial bet.
NBA Christmas games include matchups like Cavaliers vs. Knicks and Mavericks vs. Warriors.
NFL Christmas games include games like Cowboys vs. Commanders and Lions vs. Vikings.
BetMGM also provides betting odds for each NBA game on Christmas Day.
Users need to utilize any bonuses within one week before they expire.
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A Powerball player in Arkansas won a $1.817 billion jackpot on Christmas Eve. This prize is the second-largest Powerball jackpot ever in the United States. The winning ticket was sold after 46 consecutive drawings without a top prize winner.
Key Facts
An Arkansas player won a $1.817 billion Powerball jackpot on Christmas Eve.
The winning numbers were 04, 25, 31, 52, 59, and the Powerball number was 19.
The jackpot was the second-largest in U.S. history and the largest Powerball prize of 2025.
The lump sum cash option for the prize was $834.9 million.
The win ended a streak of 46 drawings without a top prize winner.
The last time the Powerball jackpot was won on Christmas Eve was in 2011.
Powerball tickets are sold in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
The odds of winning the Powerball jackpot are 1 in 292.2 million.
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Several clothing retailers announced plans to open new stores across the United States in 2026. Brands like Nordstrom Rack, J.H. & Sons, and Uniqlo are expanding, adding more locations as part of their growth strategies. These plans come amid broader economic challenges but reflect optimism about sales and consumer interest.
Key Facts
Nordstrom Rack plans to open 21 new stores in different cities during 2026.
J.H. & Sons will open a new location in Kansas City, Missouri.
Uniqlo plans to add 11 new stores across seven U.S. cities in spring and summer 2026.
Uniqlo currently operates 78 stores in the United States.
Retail experts note a trend toward larger retailers buying smaller brands and a rise in private-label clothing.
Economic pressures like inflation have led consumers to seek more affordable shopping options.
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The Powerball lottery held a drawing on Christmas Eve for an estimated $1.817 billion jackpot, which is the second-largest in U.S. history. The drawing took place in Tallahassee, Florida, and it was not immediately clear if anyone won. The cash value of the jackpot is estimated to be $781.3 million.
Key Facts
The Powerball jackpot reached an estimated $1.817 billion for the Christmas Eve drawing.
This jackpot is the second-largest in the history of U.S. lotteries.
The winning numbers for the drawing were 4, 25, 31, 52, 59, and a red Powerball of 19.
It wasn't immediately known if there was a winner; the announcement was expected the following day.
The Powerball drawing took place on December 24 at 10:59 PM ET in Tallahassee, Florida.
Powerball drawings occur three times a week: Monday, Wednesday, and Saturday.
Tickets can be bought in 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, with cutoff times varying by state.
The odds of winning the jackpot are 1 in 292.2 million.
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President Donald Trump's tariffs on Indian goods have caused prices to rise, affecting exports like Indian fox nuts. These tariffs aim at Indian imports of Russian oil, impacting several sectors and reducing fox nut sales to the U.S. However, fox nuts continue to find new markets and demand in other countries and within India.
Key Facts
President Trump imposed a 50% tariff on Indian goods.
Fox nuts, or makhana, are popular for their health benefits.
The price of some Indian products, like fox nuts, has doubled in the U.S.
Tariffs are partly a response to India importing Russian oil.
Exporters of fox nuts report a 40% drop in sales to the U.S.
India produces 90% of the world’s fox nuts, mainly in Bihar.
Fox nut farming supports about 150,000 farmers in India.
Despite challenges, fox nuts are gaining popularity in other markets.
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The Labor Department reported a decrease in unemployment claims last week ahead of the holiday season. The number of claims fell by 10,000, but continuing jobless claims are slightly up. President Trump and economists share different views on the state of job growth and the economy.
Key Facts
Last week's unemployment claims were 214,000, down from 224,000 the previous week.
Wall Street expected 231,500 unemployment claims, but actual numbers were lower.
Continuing jobless claims rose to 1.92 million from 1.88 million.
The unemployment rate in November climbed to 4.6%.
The U.S. added 64,000 jobs in November but lost 105,000 jobs in October.
President Donald Trump commented on job growth via social media, stating new jobs are in the private sector.
Economists suggest the current hiring slowdown may pressure the Federal Reserve to adjust interest rates.
Seasonal trends and holiday hiring may temporarily affect unemployment claim numbers.
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The U.S. economy is growing quickly, but job creation is slow. This trend, where the economy expands without significant hiring, is expected to continue. Factors such as increased automation and spending from wealthier households contribute to this situation.
Key Facts
The U.S. economy grew at a 4.3% annual rate in the third quarter of 2025.
Job creation averaged just 51,000 per month, despite the economic growth.
Household consumption rose 3.5%, largely driven by higher-income households.
Investment in automation and artificial intelligence is increasing.
Nominal GDP grew by 8.2%, while the unemployment rate increased to 4.6% in November 2025.
President Trump's fiscal policies, including corporate tax cuts, encourage investment in technology over labor.
Large companies benefit from these tax incentives, while smaller businesses struggle to hire due to higher interest rates.
The Middle Market Business Index indicates that midsize company hiring intentions are flat despite improved business confidence.
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The California High-Speed Rail Authority is seeking private partners to help build the state's high-speed rail system. They plan to have these partnerships in place by summer 2026 to speed up construction and secure more funding.
Key Facts
The Rail Authority is looking for private investment partners to help with the high-speed rail project by summer 2026.
A Request for Qualifications (RFQ) has been issued to find a private partner for a Co-Development Agreement.
Private partners may invest in and manage assets like station facilities and track access.
171 miles of the rail system, from Merced to Bakersfield, are in the design or construction phase.
463 miles of the planned 494-mile route from San Francisco to Los Angeles have full environmental clearance.
The project has created nearly 16,400 jobs, mainly for Central Valley residents.
Over 30 major structures are currently being built in counties like Madera and Fresno.
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