Some Social Security recipients might see smaller payments in 2026. This is because Medicare Part B premiums are increasing, and they are automatically deducted from Social Security checks. Although there is a cost-of-living increase, the higher Medicare costs could reduce the overall benefits.
Key Facts
Medicare Part B premiums will rise to $202.90 monthly in 2026, up from $185.
Social Security payments automatically deduct these premiums.
The cost-of-living adjustment (COLA) for 2026 is set at 2.8%.
Rising Medicare premiums could lower the effective COLA to 1.9% for some.
Over the last decade, Part B premiums have increased by 66%.
Part B covers preventive and necessary medical treatments.
The hardest hit are retirees in middle to lower-middle income brackets.
Some retirees may pay extra due to additional Medicare charges.
China's trade surplus in goods has exceeded $1 trillion for the first time, driven by increased exports to markets outside of the United States. Despite a drop in exports to the U.S. due to a trade war, China boosted shipments to other regions, helping to strengthen its overall export performance.
Key Facts
China's trade surplus hit $1.08 trillion in November 2023.
Exports grew 5.9% year-on-year in November, reversing a prior decline.
Exports to the U.S. fell 28.6% to $33.8 billion last month.
China and the U.S. are engaged in a trade war involving tariffs under President Trump.
Exports to the European Union and Southeast Asia saw significant increases.
China has focused on other markets due to reduced exports to the U.S.
President Macron of France expressed concerns over China's trade surplus.
China's domestic economy faces challenges like a property sector debt crisis.
Paramount made a $74.4 billion offer to buy Warner Bros. Discovery, challenging a $72 billion deal that Warner Bros. had recently accepted from Netflix. Paramount's offer includes additional cable assets and aims to convince shareholders to reject Netflix's bid. The ongoing deals could change the landscape of the U.S. entertainment industry.
Key Facts
Paramount offered $74.4 billion to buy Warner Bros. Discovery, which is $2.4 billion more than Netflix's offer.
Paramount's offer is $30 per share and includes additional cable assets.
Netflix's deal to buy Warner Bros. Discovery is valued at $72 billion.
Paramount criticized Netflix's offer for being complex and possibly facing regulatory challenges.
Paramount submitted six different proposals to Warner Bros. Discovery over 12 weeks.
The Netflix deal is expected to close in 12 to 18 months, excluding networks like CNN and Discovery.
U.S. President Donald Trump expressed concerns about Netflix's deal due to its market impact.
Shares of Warner Bros. and Paramount rose, while Netflix shares fell slightly after the announcement.
More than half of U.S. homes lost value in the past year, according to Zillow. Despite this, most homeowners have seen long-term gains in their home's worth since they originally bought them.
Key Facts
53% of homes in the U.S. have lost value in the past year.
This is the highest percentage of home value losses since 2012.
Home values increased by about 67% since they were last sold.
Only 4% of homes have lost value over the typical ownership period of 8.5 years.
High mortgage rates and house prices make it a good time for buyers if they can afford it.
The regions with the most homes losing value are in the West and South.
Major cities like Denver, Austin, Sacramento, Phoenix, and Dallas saw the largest losses.
In the Northeast and Midwest, only a few cities like Minneapolis, Des Moines, and Scranton saw similar trends.
Pilots at Air Transat have announced a 72-hour strike notice, leading the airline to prepare for possible flight cancellations around the busy holiday season. If no agreement is reached with the pilots' union, the airline plans to start canceling flights gradually, with a potential full suspension by Tuesday.
Key Facts
Air Transat pilots issued a 72-hour strike notice on Sunday.
The airline may begin canceling flights on Monday, with a full shutdown by Tuesday if no agreement is reached.
The pilots are seeking a new contract that includes better pay, benefits, and working conditions.
Air Transat has offered a 59 percent salary increase over five years and other improvements.
Customers with upcoming flights within the next five days can change or delay their trips for free or cancel for credit.
The airline is preparing to bring back passengers and crews to avoid them being stuck if there is a strike.
As of now, there is still potential for a last-minute agreement to avoid the strike.
New York Governor Kathy Hochul signed a law allowing senior citizens in the state to receive up to a 65% exemption on their property taxes if they meet certain income criteria. This change aims to help seniors struggling with the high costs of housing and living expenses. Before this law, local governments could only offer up to a 50% exemption.
Key Facts
New York Governor Kathy Hochul signed a law to increase property tax exemptions for seniors.
Seniors in New York can now get up to 65% off their property taxes if they meet certain income levels.
The previous maximum property tax exemption for seniors was capped at 50%.
Property taxes in the U.S. have increased significantly since 2019.
In New York, the state's effective tax rate is 1.64%, higher than the national average.
More than 1.8 million older adults in New York own homes and could benefit from this tax exemption.
This legislation is designed to help seniors manage rising housing costs and stay in their homes.
First-time homebuyers in New York will not benefit from this new exemption law.
Chipotle and travel brand BÉIS launched a travel accessory line called "The To Go Collection" on December 8. The collection includes items designed to keep food warm and features designs inspired by Chipotle's menu. The products are available in the U.S., Canada, Europe, and the U.K.
Key Facts
"The To Go Collection" was created by Chipotle and BÉIS founder Shay Mitchell.
The collection includes 11 pieces such as luggage, tote bags, and food holders.
Customers in the U.S. and Canada who place the first 5,000 orders receive a free Chipotle entrée code.
A pop-up store event in Los Angeles showcased the collection before its online release.
BÉIS CEO and Chipotle's Chief Brand Officer highlighted the collection's focus on combining style and function.
Early access to the collection started through the BÉIS app before it became available on the website.
The UK government aims to build 1.5 million new homes by 2029. Housing Secretary Steve Reed acknowledged that a sharp increase in construction is needed to meet this target. The government plans to implement planning reforms and make building approvals easier to boost housing development.
Key Facts
The UK government's target is to build 1.5 million new homes by 2029.
The current rate of new homes started has fallen to 139,000 annually.
The Planning and Infrastructure Bill is intended to speed up decision-making for home building.
Plans include making it easier to approve homes near public transport.
The Office for Budget Responsibility forecasts 1.49 million new dwellings, slightly below the target.
The Home Builders Federation warns the target is hard to meet without more support for first-time buyers.
A landfill-tax increase is said to add £14,000 to each home build.
Ministers aim to reduce reliance on big developers and involve smaller builders and councils more.
Denny's is closing more than 150 underperforming restaurants in the U.S. by the end of 2025 as part of a financial improvement plan. The company plans to balance the closures by opening new locations and has also announced a $620 million acquisition deal. The planned closures and corporate sale are part of efforts to strengthen the brand and improve financial performance.
Key Facts
Denny's plans to close over 150 restaurants by the end of 2025.
88 restaurants closed in 2024, with 70-90 more expected to close by the end of this year.
The closures are part of a strategy to improve financial efficiency and brand health.
The company plans to open new restaurants as the closure plan ends.
Denny's reported a 2.9% decline in sales in the third quarter of this year.
Denny's is being acquired by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises for $620 million.
The acquisition is expected to complete by the first quarter of 2026, pending approvals.
Stores have already closed in states such as California, Idaho, Massachusetts, Ohio, Oregon, Pennsylvania, and Texas.
Some people invested their life savings into building retirement homes in Cape Coral, Florida, but their homes were not completed as promised. The developer, Paul Beattie, took millions from homeowners but did not deliver finished homes. Many families are now left without their dream homes and have postponed retirement plans.
Key Facts
Cape Coral, Florida, is known for its canals and is a popular place for people to retire.
Paul Beattie is a local developer who took millions from homeowners to build retirement homes.
Many people, including the Fitzgeralds and the Kramers, trusted Beattie because of his reputation and previous awards.
Beattie had been a respected figure in the building community with several awards.
Homeowners like the Vissepos and the Hayneses were left with incomplete homes despite paying large sums of money.
The Kramers sold their previous home and lived in a rental as they waited for their new home to be built.
Delays in construction meant that some families missed out on important moments, such as spending time with aging relatives.
Starbucks is offering 17,000 Bearista cups as prizes in their "Starbucks for Life" game, which begins December 8. Customers can participate in this instant-win game through the Starbucks app, where members can win various prizes, including daily free items for up to 30 years and the Bearista cup.
Key Facts
Starbucks is giving away 17,000 Bearista cups through the "Starbucks for Life" game.
The "Starbucks for Life" game starts on December 8 and ends on January 4.
The game is available to Starbucks Rewards members and has an instant-win format.
Participants can win other prizes, like a daily credit for free food or drinks for up to 30 years and other smaller items.
The game is limited to one prize per week and up to two plays per day for contestants.
The Bearista cup previously sold out quickly, making it a highly sought-after item.
The article discusses how Texas, after a population increase during the pandemic, now sees a large number of people moving away, although many still move in from states like California, Florida, and New York. Kansas City, Missouri, ranks first among U.S. cities with the highest housing turnover rate. The high turnover is linked to reasons such as affordability, people cashing in on property equity, job relocations, and retirees moving.
Key Facts
Texas experienced a population boom during the pandemic but now has high resident turnover.
Four Texas cities are in the top 10 U.S. cities with high housing turnover.
Kansas City, Missouri, leads with 45 sales per 1,000 housing units.
Affordable home prices and cost of living contribute to Kansas City's high turnover.
San Antonio, Texas, ranks second with similar sales figures.
Job relocations and property equity cashing influence housing sales in Texas.
Indianapolis, Indiana, and Las Vegas, Nevada, also feature high turnover rates.
Dallas, Austin, and Houston are Texas cities with significant home sales activity.
Starbucks announced that its popular Bearista cup, which sold out quickly after its initial release in November, will be restocked and available through the Starbucks app starting Monday. The cup is part of Starbucks' holiday collection and features a bear shape, green hat-shaped lid, and a stripy straw.
Key Facts
Starbucks' Bearista cups were restocked after quickly selling out in November.
The Bearista cup will be available again starting Monday via the Starbucks app.
The cup is priced at $29.95.
It is designed with a shape resembling a bear and includes a green lid shaped like a hat.
Starbucks reported high demand for the Bearista cup and other holiday items.
The cup is part of Starbucks' holiday merchandise collection.
President Donald Trump has expressed concerns about Netflix's planned $72 billion deal to buy Warner Brothers Discovery, which includes Warner's movie studio and HBO's streaming service. He mentioned the large market share of Netflix and suggested he would be involved in the decision to approve the deal. The agreement is still awaiting approval from competition authorities.
Key Facts
President Trump talked about Netflix's proposed $72 billion deal to acquire Warner Brothers Discovery.
The deal includes Warner's movie studio and HBO's streaming networks.
Trump noted that Netflix already has a large share of the market, which could increase significantly if the deal goes through.
The deal must be approved by competition authorities to ensure it doesn't violate laws by controlling too much of the streaming market.
The US Justice Department's competition division is responsible for reviewing major mergers like this one.
Trump stated he would personally be involved in the decision on whether or not to approve the deal.
Netflix's co-CEO Ted Sarandos recently met with Trump, who spoke positively about him and his work at Netflix.
Air Transat, a major Canadian airline, plans to cancel flights starting Monday due to a possible pilots' strike. The pilots' union issued a 72-hour notice for the strike, which could begin Wednesday if no contract agreement is reached. The airline and the pilots' union have been negotiating for almost a year without a new agreement.
Key Facts
Air Transat will start canceling flights on Monday due to a possible pilots' strike.
The pilots' union gave a 72-hour strike notice on Sunday.
The strike could begin on Wednesday if no agreement is made.
Pilots have been bargaining for a new contract since their current one is from 2015.
The union wants better pay, benefits, work rules, and job security.
99% of Air Transat pilots voted to allow a strike.
Air Transat aims to avoid stranded passengers and crews if a strike happens.
The airline believes the strike notice is premature given the bargaining progress.
The government has announced a plan to create 50,000 new apprenticeships to help reduce youth unemployment. This initiative is part of a £725 million budget package focused on supporting young people and includes additional funding for training and work placements. The program aims to reverse the decline in apprenticeships and offers full funding for young people under 25 in small to medium businesses.
Key Facts
The government plans to create 50,000 new apprenticeships to support young people.
A £725 million budget package will fund this initiative over the next three years.
Apprenticeships in AI, hospitality, and engineering will be included in the program.
Full funding will be provided for young people under 25 at small and medium-sized businesses.
An extra £140 million will go toward a pilot program to link young people with job opportunities through local mayors.
The government will offer short courses in AI, engineering, and digital skills in collaboration with the defense sector starting next Spring.
Nearly a million young people aged 16 to 24 are currently not in employment, education, or training.
From next April, 55,000 six-month placements will be available, fully subsidized for those on benefits for over 18 months.
President Donald Trump commented on Netflix's planned purchase of Warner Bros for $82.7 billion. He praised Netflix co-CEO Ted Sarandos but raised concerns about the deal's impact on the market. The deal will merge two large media companies under Netflix, which may undergo regulatory review.
Key Facts
President Donald Trump praised Netflix co-CEO Ted Sarandos for his work.
Netflix plans to buy Warner Bros for $82.7 billion in a combination of cash and stock.
The deal makes Netflix the owner of a large collection of popular films and TV shows.
The acquisition will increase Netflix's market share in the streaming industry significantly.
Regulatory approval is needed for the deal to go through because of concerns about market concentration.
Netflix emerged as the leading bidder, surpassing other offers from Paramount and Comcast.
This acquisition would add Warner Bros.'s film and TV assets to Netflix’s existing platform.
President Trump indicated he would be involved in the decision process given its market implications.
The U.S. Department of Transportation (DOT) has waived the remaining $11 million of Southwest Airlines' $140 million fine for a major travel disruption during the December 2022 holiday season. The DOT decided to forgo this penalty due to Southwest's improvements in their operations and investments in their network.
Key Facts
The U.S. DOT waived the final $11 million of Southwest's $140 million penalty.
The penalty was related to a travel disruption during a winter storm in December 2022.
Over 2 million travelers were affected, with Southwest canceling 17,000 flights.
Most of the penalty funds went towards compensating affected travelers.
The incident cost Southwest over $1.1 billion in total.
Southwest has since improved its on-time performance and invested in infrastructure.
The DOT believes waiving the penalty encourages airlines to improve their systems.
Southwest's performance will continue to be monitored by the federal government.
Treasury Secretary Scott Bessent sold his soybean farm and acknowledged that farmers need government assistance in spite of a trade agreement with China. He emphasized the need for stable, long-term purchase deals to help farmers, while the government plans temporary payments to support them in the meantime.
Key Facts
Scott Bessent, the Treasury Secretary, sold his soybean farm due to an ethics agreement.
Soybean prices are high, but farmers still require federal aid.
Bessent believes long-term purchase agreements with China are essential for farmers.
Before the recent trade deal, China had stopped buying U.S. soybeans, which affected farmers.
Agriculture Secretary Brooke Rollins announced upcoming government payments to farmers.
Farmers' aid aims to support them until trade deals are fully completed.
Bessent claimed media reports overstate economic issues, and he stated real incomes are rising.
The size and terms of the financial aid for farmers have not yet been specified.
JPMorgan Chase CEO Jamie Dimon stated that American consumers are generally doing well, but inflation remains high and is not decreasing. Dimon noted that jobs are slowly weakening, but companies are still making profits and markets are strong. He mentioned that AI may not drastically impact jobs soon.
Key Facts
Jamie Dimon is the CEO of JPMorgan Chase.
Dimon said that American consumers are in good condition despite a weakening job market.
Inflation is high and does not seem to be decreasing.
Companies are making profits, and stock markets are performing well.
Dimon believes AI is influencing science and productivity.
He doubts AI will significantly reduce jobs in the near future.
Businesses are cautious about hiring and want to be more efficient.
During the holiday season, consumers are still shopping, but concerns about living costs are growing.
