Costco has taken legal action against the U.S. government, aiming for a full refund of tariffs if the Supreme Court rules against President Trump's authority to impose them. The case challenges Trump's use of emergency powers under the International Emergency Economic Powers Act. Earlier courts have already decided that Trump overstepped his authority, but the Supreme Court will have the final say.
Key Facts
Costco filed a lawsuit to get a refund on tariffs if the Supreme Court rules against President Trump's authority.
The lawsuit claims the tariffs are illegal because they were imposed without Congress's approval.
Lower courts have previously ruled that Trump's use of emergency powers for tariffs was unlawful.
Trade data shows importers, including Costco, have paid around $90 billion in these tariffs.
Costco filed the suit before a December 2025 deadline to ensure a chance to recover the funds.
The Supreme Court justices have shown doubt about the president's authority to impose tariffs without congressional approval.
President Trump argues that emergency powers allow him to impose global tariffs.
The Trump administration says overturning the tariffs could limit negotiation abilities and result in financial losses to the treasury.
Jamie Laing's vegan sweets brand, Candy Kittens, plans to buy the UK snack brand Graze from Unilever. The deal is expected to finalize in the first half of 2026. This move is part of Unilever's strategy to sell under-performing brands and focus on other products.
Key Facts
Candy Kittens, co-founded by Jamie Laing, is acquiring Graze, a UK snack brand.
Unilever, the current owner, is selling Graze to focus on its personal care and beauty products.
The sale should be completed by the first half of 2026.
Graze started in 2005 as an online snack delivery service and was bought by Unilever in 2019.
Unilever's CEO, Fernando Fernandez, is leading efforts to reshape the company's focus.
Other brands recently sold by Unilever include The Vegetarian Butcher.
Unilever also plans to spin off its ice cream division, including brands like Magnum and Ben & Jerry's.
Starbucks agreed to pay over $38 million in a settlement after being accused of breaking New York City's Fair Workweek Law many times. The settlement will give about $35 million to over 15,000 baristas in New York City. This marks the largest worker protection settlement in the city's history.
Key Facts
Starbucks agreed to a settlement of more than $38 million.
Over $35 million will go to more than 15,000 New York City baristas.
The settlement stems from violations of NYC's Fair Workweek Law.
Starbucks is also required to pay around $3.4 million in civil penalties to the city.
New York City Mayor Eric Adams called it the largest worker protection settlement in NYC history.
NYC Mayor-elect Zohran Mamdani and Sen. Bernie Sanders supported striking Starbucks workers.
Starbucks stated the payment is about compliance with the law, not unpaid wages.
The resignation of Richard Hughes, the head of the Office for Budget Responsibility (OBR), made headlines after a budget leak led to his decision to step down. This situation has intensified pressures on Rachel Reeves amid ongoing discussions about the budget and financial issues. There are also developments in a property tax policy and reactions to the OBR's budget predictions.
Key Facts
Richard Hughes resigned as the head of the Office for Budget Responsibility (OBR) following a budget leak.
The leak concerned access to information before the Spring Statement, raising worries about future budget security.
Rachel Reeves is under scrutiny, with some pressures calling for her resignation.
Richard Hughes will not testify before a Treasury committee because of his resignation.
Properties valued over £2 million will not be subjected to a new property tax, as stated in recent budget news.
Relations between the OBR and the Treasury were strained, particularly over budget timeline disagreements.
The resignation followed a public reprimand from the prime minister and the claim he was forced out for opposing the Chancellor.
Other news items include a corruption case involving Labour MP Tulip Siddiq and a high-profile arrest in sports.
The head of the UK's Office for Budget Responsibility (OBR), Richard Hughes, has resigned amid issues about the OBR's independence and its influence on government policy. The Chancellor must now appoint a new leader for the OBR, while ensuring the organization remains credible and unbiased. The OBR is responsible for providing economic forecasts that the government uses for fiscal planning.
Key Facts
Richard Hughes, head of the OBR, resigned due to a mix of political pressures and organizational challenges.
The Chancellor needs to select a qualified economist to replace Hughes while maintaining the OBR's independence.
The OBR provides important economic forecasts that influence government budget decisions.
There has been political pressure on the OBR to credit certain government growth policies, but these did not meet the necessary impact threshold.
Any interference with the OBR's independence could affect the UK's market credibility and borrowing costs.
The OBR plans to continue providing bi-annual economic forecasts, but the government will not always respond with policy changes.
The OBR recently highlighted the UK's economic trends and future challenges, including special educational needs costs in England.
Richard Hughes emphasized that the OBR operates under powers given by Parliament and only provides forecasts, not policy decisions.
Prime Minister Starmer defended Chancellor Reeves, who was accused of not providing the full picture in a recent speech about economic forecasts. Meanwhile, the UK and US have agreed on a deal regarding pharmaceutical shipments, where the UK will pay more for medicines to keep US import taxes at zero.
Key Facts
Prime Minister Starmer supported Chancellor Reeves against accusations of misleading the public and the cabinet.
Reeves was accused of not highlighting the positive aspects of forecasts in a speech on November 4th.
The UK and US have reached an agreement on tariffs for pharmaceutical shipments.
Under the agreement, the UK will pay higher prices for medicines through the NHS.
In return, the US will maintain zero import taxes on UK-made pharmaceuticals for three years.
The information was discussed on a BBC Newscast episode available for over a year.
Starbucks has agreed to pay over $35 million to about 15,000 workers in New York City to settle claims that the company broke local labor laws by not providing stable work schedules. The payment will compensate workers, giving them $50 for each week they worked from July 2021 to July 2024. This settlement follows an investigation that found Starbucks violated New York City's work schedule law multiple times.
Key Facts
Starbucks will pay $35 million to New York City workers following labor law violations.
Over 15,000 hourly workers will get $50 for each week worked between July 2021 and July 2024.
New York City's investigation found Starbucks broke the city's work schedule law over 500,000 times since 2021.
The agreement is the largest worker protection settlement in New York City's history.
Starbucks must comply with local worker protection laws requiring regular schedules.
The city's law for predictable schedules is described by Starbucks as complex.
Compensation is for legal compliance, not unpaid wages.
Starbucks faces ongoing labor disputes with a union over pay and staffing.
Bitcoin's price fell to around $85,000 amidst a larger decline in technology stocks. The drop follows Bitcoin's peak in October and affects companies related to cryptocurrency. Factors like market trends, investor behavior, and regulatory uncertainty contribute to the decrease.
Key Facts
Bitcoin's price fell to just above $85,000, a 5.6% decline after being down nearly 12% earlier in the day.
Bitcoin peaked at $126,210.50 on October 6 but is now down about 33% from that high.
Shares of crypto-related companies, like Coinbase and Robinhood, also fell; Coinbase by 4.8% and Robinhood by 4.1%.
American Bitcoin, partially owned by President Donald Trump's sons, fell 15.6% and is down nearly 47% since September 30.
Investors withdrew $3.6 billion from spot bitcoin ETFs in November, the largest outflow since January 2024.
Factors contributing to the decline include risk-averse market behavior, institutional selling, and a lack of clear crypto regulations.
A new market regulation bill for cryptocurrency is stalled in the Senate, despite earlier crypto-friendly legislation signed by President Trump to regulate stablecoins.
Costco has filed a lawsuit against the U.S. government for a potential refund if the Supreme Court rules against President Donald Trump's tariff authority. The case challenges Trump's use of emergency powers to impose tariffs. Several other major companies are also seeking similar refunds.
Key Facts
Costco sued the U.S. government over tariffs related to President Trump's powers under the 1977 International Emergency Economic Powers Act.
The lawsuit aims to ensure refunds if the Supreme Court limits Trump's tariff authority.
U.S. Customs and Border Protection denied Costco's request for more time on tariff calculations.
Costco reported $275.2 billion in revenue for the fiscal year ending August 31.
Other companies like Bumble Bee Foods, Kawasaki Motors, and Revlon are also involved in similar lawsuits.
The Supreme Court is fast-tracking the case but has not announced a decision date.
Costco is reducing suppliers and increasing local sourcing to mitigate tariff impacts.
ZipCar, a car-sharing company, will stop its UK operations by the end of 2024. The company plans to pause new bookings after December 31 and is consulting with its UK staff about the decision. ZipCar has around 650,000 users in the UK and cites financial losses as a reason for its withdrawal.
Key Facts
ZipCar is ending its operations in the UK by the end of 2024.
The company will pause new bookings after December 31, 2024.
There is a consultation process with ZipCar’s 71 UK staff members about this decision.
ZipCar has approximately 650,000 members in the UK, mainly in London.
Users rent cars through an app and pick them up from designated parking spots.
ZipCar reported a decrease in revenue from £53 million to £47 million in 2024.
The company experienced a financial loss of £11.6 million after tax.
ZipCar attributes financial difficulties to the "cost of living crisis" in the UK.
The United States and the United Kingdom have agreed on a trade deal that removes tariffs on medical products. In return, the UK will spend more on medicines and adjust how it values their prices. The UK's NHS will increase its budget for treatments by 25% over the next three years.
Key Facts
The US and UK agreed to zero tariffs on medicines and medical products.
The UK's NHS will spend 25% more on treatments for at least the next three years.
The UK will change how it values new medicines, affecting the prices it pays.
The NHS uses a measure called "quality-adjusted life year" to determine a drug's cost-effectiveness.
President Trump advocated for Europe to pay more for US medicines.
The UK promised to cut the rebate rate paid by companies to the NHS to 15% by 2026.
The agreement encourages pharmaceutical companies to invest in the UK.
Companies like Bristol Myers Squibb plan significant investments in the UK following the deal.
Logan's Roadhouse has introduced a new holiday menu featuring Prime Rib weekends and take-and-bake feasts available until January. The restaurant aims to provide simplified holiday meals for families and encourage customer visits through special seasonal dishes and drinks.
Key Facts
Logan's Roadhouse launched its holiday menu, available from now until January.
Prime Rib Weekends occur every Friday through Sunday between October 31, 2025, and February 22, 2026.
Customers can preorder the Prime Rib Roadhouse Feasts starting October 27, with pickup until January 1.
The menu includes two feast options: the Ultimate Feast serving six to eight people or the Holiday Main Dish Feast with various meat options.
Limited-time fall dishes include appetizers, entrees, desserts, and seasonal cocktails.
The menu aims to reduce holiday stress for families by offering easy-to-prepare meal options.
The restaurant hopes to increase customer interest and foot traffic despite a cooling economy.
Police are considering corporate manslaughter charges in the Post Office Horizon IT scandal. The investigation is looking into possible legal offenses due to the wrongful prosecutions of sub-postmasters based on incorrect data from the IT system. Officers encourage former sub-postmasters who signed non-disclosure agreements to come forward.
Key Facts
The investigation into the Post Office Horizon IT scandal may include corporate manslaughter charges.
Police are focusing on eight key suspects and have conducted five interviews under caution.
There are 53 people of interest in the investigation who may become suspects.
The Horizon IT system falsely reported financial shortfalls, leading to over 900 wrongful prosecutions.
Operation Olympos, the criminal investigation, began in 2020, involving about 100 officers.
The primary focus remains on offenses like perjury and perverting the course of justice.
Non-disclosure agreements signed by sub-postmasters with the Post Office will no longer be enforced.
The second part of the public inquiry's final report is expected next year, and trials may not occur before 2028.
Economists are currently finding it challenging to understand the state of the economy due to mixed signals. Some indicators show positive trends like a strong stock market, while others like high consumer debt and persistently high inflation suggest potential problems.
Key Facts
The stock market is performing well and increasing in value.
Unemployment rates are very low, although there has been a slight increase.
Consumer sentiment, which measures how people feel about the economy, is relatively low.
There is a high level of consumer debt, meaning people owe a lot of money.
Inflation, which is the rise in prices over time, remains high without much change.
The Office for Budget Responsibility (OBR) accidentally released a key Budget document early, calling it the worst mistake in its history. The leak caused significant disruption and affected the UK's financial markets, as it revealed new measures before the Chancellor officially announced them.
Key Facts
The OBR said the early release of a Budget document was its biggest mistake in 15 years.
The document was accessed 43 times from 32 different computers before it was supposed to be released.
Richard Hughes, the OBR Chair, expressed personal embarrassment about the error.
A cybersecurity expert was called to investigate how the document was released early.
The early publication caused problems for Chancellor Rachel Reeves's Budget announcement.
The leaked document contained important measures, like a pay-per-mile charge on electric vehicles and a freeze on income tax thresholds.
The OBR apologized for the error and called it a "technical error".
The OBR is an independent body that evaluates the UK's economy and works closely with the Treasury.
The travel industry offers significant discounts on "Travel Tuesday," which falls after Cyber Monday. Consumers are advised to research these offers carefully to avoid misleading deals. Companies might use discounts or perks to attract customers, but not all deals are as good as they seem.
Key Facts
Travel Tuesday is a day when airlines, hotels, and other travel companies offer special one-day deals right after Cyber Monday.
Consumers might see significant discounts, but the real savings can vary, with some prices potentially inflated beforehand.
Experts recommend researching offers in advance and checking the fine print for restrictions or hidden fees.
Some deals may have blackout dates or nonrefundable fares attached, which can negate savings.
Companies might include perks, like extra points or amenities, to attract customers without lowering base prices.
Travel Tuesday began in 2017 and has become increasingly popular each year.
Nearly three times as many trips were booked on Travel Tuesday last year compared to Black Friday.
GivingTuesday is a major fundraising day for U.S. nonprofits and occurs the Tuesday after Thanksgiving. This year, economic conditions and recent tax law changes may influence how much people donate. Nonprofits are preparing for high demands amid financial challenges, aiming to maximize donations through strategies like matching programs.
Key Facts
GivingTuesday began in 2012 as a social media campaign and became a nonprofit in 2020.
It is scheduled for Dec. 2 this year.
A tax law passed by President Trump allows new charitable deductions for many taxpayers.
Nonprofits face uncertainties due to high prices affecting small donors and government cuts impacting some services.
Large donors, influenced by stock market performance, are crucial for overall donations.
Many nonprofits offer matching donations to increase fundraising impact.
The event encourages people to give, driven by individual choices and community influences.
The United States and the United Kingdom are about to agree on a deal that will remove tariffs on pharmaceutical products. This agreement is expected to boost trade by allowing medicines from the UK to enter the US without extra costs for the next three years.
Key Facts
The US and UK will agree to remove tariffs on pharmaceuticals, meaning there will be no extra costs on medicine imports.
The deal could be announced very soon, according to sources in the pharmaceutical industry.
Pharmaceutical companies had considered reducing UK investments due to high proposed tariffs up to 100%.
The UK exported £11.1 billion worth of medicines to the US in the year leading to September, which was 17.4% of its total exports.
The agreement means UK medicines are safe from tariff hikes for the next three years.
The US is a major market for UK pharmaceutical firms, including GSK and AstraZeneca.
There has been tension between the UK government and the pharmaceutical industry over spending and drug approval rates.
GSK and AstraZeneca announced significant investment plans in the US, pausing some UK operations.
Cyber Monday is expected to set new records for online shopping, even though there are economic concerns. Experts predict U.S. shoppers will spend over $14 billion online on this day. The increase in spending is partly due to significant discounts on popular items like electronics and apparel.
Key Facts
Cyber Monday is predicted to be the biggest online shopping day of the year with expected U.S. sales of $14.2 billion.
Spending is expected to increase by 6.3% compared to 2024.
Peak online shopping will occur between 8 p.m. and 10 p.m. local time.
U.S. online shopping already saw $11.8 billion spent on Black Friday and another $11.8 billion over the weekend.
Discounts on electronics could reach 30%, and apparel discounts could reach 26%.
Adobe Analytics and Salesforce both provided sales estimates, with Salesforce predicting global online sales of $53.7 billion for Cyber Monday.
Economic challenges and rising prices may lead to consumers buying fewer items but focusing on more significant purchases.
Buy now, pay later plans are contributing to increased online spending, expected to reach $20.2 billion over the holiday season.
A federal judge in Florida dismissed a lawsuit against attorney James L. Wilkes II by fashion designers Marco Morante and Chris Psaila. The court criticized the lawsuit for being filled with sensational claims about Erika Jayne, a TV star, and her ex-husband, Tom Girardi. The lawsuit did not clearly present legal claims and missed important legal details about the case.
Key Facts
A judge in Florida dismissed a lawsuit against attorney James L. Wilkes II.
The lawsuit was filed by fashion designers Marco Morante and Chris Psaila.
The complaint included allegations about TV star Erika Jayne and her ex-husband, Tom Girardi.
The judge called the lawsuit “sensational” and not substantial in legal terms.
The lawsuit claimed involvement in a fraud scheme connected to Girardi’s misuse of client funds.
The judge noted the complaint failed to establish the court's jurisdiction correctly.
The judge labeled the complaint a “shotgun pleading,” meaning it was vague and unrelated to clear legal claims.
The plaintiffs were given 21 days to rewrite and resubmit their complaint.
