The IRS tax filing deadline for certain forms, including the W-2, W-3, and 1099-NEC, was January 31, 2026. Penalties apply for missing the deadline or submitting incorrect forms.
Key Facts
The IRS required forms like W-2, W-3, and 1099-NEC to be filed by January 31, 2026.
Form W-2 reports employee wages and tax withholdings and must be shared with both the SSA and employees.
Form W-3 is sent with the W-2, summarizing total wages and taxes for all employees.
Form 1099-NEC reports payments of $600 or more to nonemployees like freelancers.
Missing the deadline or providing incorrect forms can result in penalties.
Penalties per late return in 2026 start at $60 and can reach $680 for intentional disregard.
Separate penalties apply for not filing correctly with the IRS/SSA or not providing recipient copies.
Interest is charged on unpaid penalties, but payment plans are available to reduce further penalties.
Keurig Dr Pepper is launching a new soda brand called SkyPop across the United States. SkyPop is a protein-fortified soda with zero sugar and includes various flavors. The launch follows successful early trials and is part of a trend where more people are looking for protein-based foods and drinks.
Key Facts
SkyPop contains 10 grams of whey protein, zero sugar, and 45 calories per can.
The soda comes in flavors like Root Beer, Ice Pop, and Strawberry Cotton Candy.
The brand was initially called "Don’t Quit" before being rebranded to SkyPop.
The launch is supported by a $15 million investment, with backing from celebrities like NBA player Russell Westbrook.
SkyPop has over 65,000 retail partnerships, including stores like Walmart and Target.
There is growing demand for protein-based foods and drinks, especially among younger people.
Surveys indicate that protein intake increased for 61% of Americans in 2024.
Asda, one of the UK's largest supermarkets, has been losing customers to its competitors. Sales decreased by 4.2% over a 12-week period at the end of 2025, and the company faces challenges due to a high level of debt and market changes.
Key Facts
Asda is the UK's third-largest supermarket chain.
Sales at Asda fell by 4.2% during a 12-week period ending December 28, 2025.
Other major UK supermarkets reported sales increases during the same period.
The Issa brothers and TDR Capital bought Asda in 2021 using a debt-financed deal.
Rising inflation and interest rates have increased the cost of Asda's debts.
Management turnover and store staffing cuts have led to operational issues.
Asda faces competition from budget chains like Aldi and Lidl.
The release of documents related to Jeffrey Epstein has brought renewed attention to the connections between Epstein and several wealthy individuals, including Bill Gates and Elon Musk. The documents, released by the U.S. Department of Justice, include emails and other correspondence involving these figures, although some claims are disputed by the individuals mentioned.
Key Facts
The U.S. Department of Justice released documents about Jeffrey Epstein’s connections.
The documents include emails mentioning Bill Gates and claims about extramarital affairs, which Gates denies.
Elon Musk’s emails show he sought visits to Epstein’s island, contrary to his previous claims of not accepting invitations.
Musk responded on social media, claiming minimal interaction with Epstein and support for releasing the files.
Commerce Secretary Howard Lutnick also had interactions with Epstein in 2012 but later called Epstein derogatory names.
Some survivors of Epstein’s alleged crimes say abusers remain protected despite the document release.
The Epstein Files Transparency Act required all Epstein-related documents to be published by December 19.
The release marks the end of a thorough review process by the U.S. Department of Justice.
A new documentary about Melania Trump is expected to perform well in its opening weekend, potentially ranking in the top five at the box office. The film attracted criticism due to its high costs and the involvement of director Brett Ratner, but early ticket sales suggest it could earn around $8 million in North America.
Key Facts
The documentary is titled 'Melania' and covers 20 days in Melania Trump's life leading up to President Trump's second inauguration.
It faced initial low expectations and criticisms due to the high costs and director Brett Ratner's past allegations.
Amazon invested $75 million in the film, making it one of the most expensive documentaries ever.
Some countries, like South Africa, have decided not to show the film.
The documentary may earn over $8 million in North American theaters during its opening weekend.
'Melania' has received mixed reviews, with low critic ratings but high audience approval on review sites.
Final box office numbers will be confirmed on Monday.
Chancellor Rachel Reeves called the current student loan system "fair and reasonable" following criticism for freezing the repayment threshold at which graduates start repaying their loans. The freeze means graduates on Plan 2 loans in England and Wales will have to repay loans starting at an income of £29,385 from April 2027, for three years. Critics argue this decision treats student loans like a tax and burdens graduates with rising repayment costs due to inflation.
Key Facts
The repayment threshold for Plan 2 student loans will be frozen at £29,385 from April 2027 for three years.
This change will affect graduates in England and Wales who started courses between 2012 and 2023.
Plan 2 loans were introduced when tuition fees increased to up to £9,000 a year.
Graduates repay 9% of earnings above their threshold, with automatic payments through the tax system.
The interest rate for Plan 2 loans includes RPI inflation plus up to 3% based on earnings.
Higher inflation recently increased interest rates on these loans, making repayments more costly over time.
Critics, including finance expert Martin Lewis, challenged the fairness of treating loans akin to taxes.
A Danish company, Maersk, will temporarily manage two ports on the Panama Canal after Panama's top court ruled that the contracts with a Hong Kong firm, CK Hutchison, were unconstitutional. The decision follows concerns from the U.S. about Chinese influence over the canal, which is a key route for global shipping.
Key Facts
Maersk will temporarily operate the Balboa and Cristobal ports on the Panama Canal.
The Panama Supreme Court ruled contracts with Hong Kong's CK Hutchison unconstitutional.
The Panama Maritime Authority announced Maersk's temporary takeover.
The ruling followed U.S. President Trump's comments about Chinese control of the canal.
The Panama Canal handles 40% of U.S. container shipping and 5% of world trade.
Panama took control of the canal from the U.S. in 1999.
China expressed concerns about the ruling affecting its companies.
Mercedes-Benz is celebrating its 140th anniversary, highlighting its engineering innovations over the years. The company plans to launch over 40 new vehicles in the coming years and continues to focus on advancing technology in cars.
Key Facts
Carl Benz patented the first automobile 140 years ago, leading to the foundation of Mercedes-Benz.
The company is planning to introduce over 40 new vehicles as part of its largest modernization program.
Mercedes-Benz has developed many car technologies, including antilock brakes and airbags.
New technology efforts include in-wheel braking and paint that acts as a solar panel.
The Vision EQXX concept car drove 1,202 kilometers on a single battery charge, influencing new car designs.
Mercedes-Benz remains focused on engineering and meeting customer needs, which has sustained the company for 140 years.
The article provides tips on how to avoid extra costs when flying with budget airlines. It highlights strategies like packing efficiently, using clothing with large pockets, and understanding luggage rules to minimize additional fees.
Key Facts
easyJet was recently criticized for misleading claims about low carry-on bag fees.
Many budget airlines charge low ticket prices but make money through extra fees for luggage and seat selection.
Travelers are advised to pack light, share luggage, or use bags that comply with airline size rules to avoid fees.
Airlines tend to charge more for adding luggage at the airport or closer to the departure date.
Travelers should check the specific luggage size rules of each airline.
Some travel hacks include using clothes with large pockets or bags with removable wheels to save on baggage costs.
The UK's tax authority has extended phone and webchat services as the deadline for filing the 2024-25 tax returns approaches. Those who fail to file by the end of January 31 face automatic fines and further penalties. Millions have already submitted their returns, but there is concern about those who leave it to the last minute.
Key Facts
The deadline for the 2024-25 tax returns is January 31.
HM Revenue and Customs (HMRC) has opened phone lines and expanded digital support to help last-minute filers.
Those who miss the deadline face a £100 fine, with additional penalties possible.
Over 10 million returns have been filed, but many are expected to file on the last day.
People with more than one source of income, like self-employment or property letting, must file a return.
As of now, people earning over £150,000 are exempt if they didn't need to file for other reasons.
Some taxpayers could miss out on tax relief for pensions or other schemes if they don't file correctly.
Penalties for late filing can increase over time and may include additional charges and interest.
Taxpayers should be cautious of scams from fraudsters pretending to be HMRC officials.
President Donald Trump has chosen Kevin Warsh to lead the U.S. central bank, also known as the Federal Reserve. Warsh previously worked at the Federal Reserve and has views that differ from Trump's on interest rates. It is uncertain if Warsh will deliver the changes Trump desires for the bank.
Key Facts
President Trump announced Kevin Warsh as his pick to lead the Federal Reserve.
Warsh has a background that includes working at the Federal Reserve and Wall Street.
He is known for supporting higher interest rates, contrasting President Trump's preference for lower rates.
Warsh's nomination has been praised by some established figures and seen positively by financial markets.
Critics question whether Warsh's connection to Trump through his father-in-law influenced his nomination.
Warsh's past positions, such as opposing economic stimulus during the 2008 crisis, have received criticism.
Analysts suggest that Warsh's leadership might not drastically change interest rate policies.
President Donald Trump's nomination of Kevin Warsh for Federal Reserve chair is causing unease among investors. There are concerns that Warsh might change interest rates in ways that could create uncertainty in the market.
Key Facts
Kevin Warsh is President Trump's nominee for Federal Reserve chair.
Some investors are unhappy with this choice due to potential market uncertainty.
Warsh may cut interest rates at President Trump's request, even if it's not needed.
Cutting rates now might lead to increases later if inflation rises.
Warsh's past positions, during the financial crisis, have created concern among investors.
He previously worried about inflation during a recession and left the Fed due to disagreements.
Warsh's views on AI and interest rates are being monitored, as these could impact tech companies' ability to borrow money.
Some investors are advised to diversify internationally to mitigate risks.
Gold and silver prices dropped sharply after President Trump announced Kevin Warsh as the new head of the Federal Reserve. Despite this fall, gold and silver prices remain higher than they were at the start of the year.
Key Facts
President Donald Trump chose Kevin Warsh to lead the Federal Reserve.
Gold prices fell by 9% to $4,901 per ounce on Friday.
Silver prices dropped by 27% to $83.35 per ounce.
The decline is the largest daily drop for both metals since the 1980s.
Analysts see the drop as a result of market momentum and previous high gains.
Prior to the drop, gold was up more than 14% for the year and silver was up 22%.
Investors had previously bought gold and silver amid concerns over Fed independence.
Warsh is viewed as a credible choice, easing some investor concerns.
President Trump chose Kevin Warsh to be the next leader of the Federal Reserve. Warsh has experience advising past presidents and served on the Federal Reserve Board. He would replace the current chair, Jerome Powell, if confirmed.
Key Facts
President Trump nominated Kevin Warsh for Federal Reserve chair.
Warsh was an advisor to President George W. Bush.
He served on the Federal Reserve’s Board from 2006 to 2011.
Jerome Powell is the current chair of the Federal Reserve.
If confirmed, Warsh will replace Powell when his term ends in May.
The announcement was discussed in an interview with David Wessel.
Category: business
Medicare's decision to cover certain weight loss drugs, including Ozempic, could significantly impact how obesity is treated in the U.S. Eli Lilly, a drug company, plans to launch a new weight loss pill, orforglipron, which Medicare will cover soon after its release. This change could lower costs for patients and expand access to weight management medications.
Key Facts
Medicare will start covering weight loss drugs such as GLP-1 medications, which help treat type 2 diabetes and aid weight loss.
Eli Lilly's CEO stated that their new obesity pill, orforglipron, will be covered by Medicare right after its launch.
Under the new Medicare coverage, patients could pay as little as $50 per month for these medications.
Eli Lilly plans a full launch of their new pill in the second quarter when Medicare coverage begins.
Approximately 20 to 30 million Medicare beneficiaries in the U.S. could benefit due to obesity concerns.
Previously, patients often paid out of pocket for similar medications from other companies.
Medicare's decision is part of a pilot program approved by the Trump administration.
The high cost of these drugs in the U.S. had been a barrier compared to their prices in other countries.
Shares of Bombardier, a Canadian airplane company, dropped after President Donald Trump threatened a 50% tax on Canadian-made planes. Trump's statement raised concerns and confusion among airplane buyers and companies. Bombardier is in talks with the Canadian government to address the issue.
Key Facts
Bombardier's stock fell 9% after Trump's tariff threat.
Trump warned of a 50% tax on Canadian planes unless Canada approves US Gulfstream planes.
Bombardier employs over 3,000 people in the US and works with 2,800 US suppliers.
There are tensions between Canada and the US over trade policies.
US airlines like American Airlines and Delta use many Canadian-made planes.
Bombardier said it is discussing the issue with the Canadian government.
There are 5,425 Canadian-made aircraft in the US, including various types of jets and helicopters.
President Donald Trump plans to nominate Kevin Warsh as the next chair of the Federal Reserve. Warsh would replace Jerome Powell when his term ends in May, if the Senate confirms him.
Key Facts
President Trump nominated Kevin Warsh for Federal Reserve chair.
The Federal Reserve is an independent agency that influences interest rates.
Warsh would take over from current Fed Chair Jerome Powell.
Jerome Powell was also nominated by President Trump previously.
President Trump has been pushing for lower interest rates.
Gold prices recently hit record highs, passing $5,000 per ounce, due to global political uncertainties and economic policies under President Trump. Investors have been buying gold as a safe investment, but recent news about a potential Federal Reserve chairman has slightly lowered the prices. Central banks and countries like China have also influenced gold demand by purchasing large amounts.
Key Facts
Gold prices reached over $5,000 per ounce for the first time, peaking at $5,500.
Silver prices also rose, from $35 to around $98 per ounce in a year.
President Trump's trade policies and threats of tariffs have increased demand for gold as a safer investment.
Political uncertainties, including wars in Ukraine and Gaza, are contributing to the rise in gold prices.
Central banks and countries like China are purchasing large amounts of gold, which has affected prices.
Reports of President Trump potentially nominating Kevin Warsh as Federal Reserve chairman have eased gold price rises.
Companies like Tether have also acquired significant amounts of gold, boosting market demand.
Jersey's retail price index, a measure of inflation on the island, rose by 2.8% in 2025. This increase was due to higher prices in food, leisure, motoring, and household services, despite a significant decrease from its peak of 12.7% in March 2023.
Key Facts
Jersey's retail price index (RPI) increased by 2.8% in 2025.
This RPI measures inflation, or how much prices have risen.
Food prices were a big part of the increase, with beef prices going up by 25.9%.
Coffee and cocoa prices rose by 13.8%, and butter by 12.2%.
Some items like bacon, cereals, and processed fish became cheaper.
Leisure services, including entertainment and off-island holidays, largely contributed to inflation.
Travel costs increased by 5.6% and leisure services by 5.2%.
Motoring costs rose by 4.3%, and household service bills increased by 3.3%.
A shoe company known for making baby shoes worn by British royal children is close to shutting down due to high costs and low demand. The company's owners are trying to find a buyer to keep the business going. The firm, which has been operating for over 70 years, struggles with increasing expenses and economic challenges.
Key Facts
The shoe company produced shoes worn by Prince George, Princess Charlotte, and Prince Louis.
The business is based in Leicester, UK, and known for the brands Early Days and Baypod.
The company faces financial trouble due to decreased customer demand and higher business costs.
The owners, Paul Bolton and his brother, are seeking a buyer to save the company.
The firm previously saw a sales boost when Prince George was pictured wearing its shoes.
Rising energy costs, material prices, wage increases, and taxes are adding financial pressure.
The company once employed over 100 people but now only has 10 employees.
Current shoe prices start at £12.99, with royal-endorsed shoes priced at £32 a pair.
