People in north-east England are facing mental health problems due to stress from personal debt. According to local reports, high living costs and insufficient control over finances are major reasons for this debt. Many individuals, advised by debt charities, are working multiple jobs to afford basic needs.
Key Facts
Citizens Advice reports north-east England has the second highest need for debt help in the UK.
Debt charity StepChange found 37 clients per 10,000 adults in the North East in 2024.
Dr. Kamlesh Sreekissoon, a GP, observes patients working several jobs to manage debt.
High living costs and lack of financial control are main debt causes, with local numbers surpassing UK averages.
Many people are going into debt to cover essentials like food and fuel, not luxury items.
Stress from debt is worsened by family and caregiving responsibilities, affecting mental health.
Rachel Reeves, the Chancellor, addressed claims that she lied about the public finances before presenting her Budget. She was questioned about whether her policies align with Labour’s manifesto promises.
Key Facts
Rachel Reeves is the current Chancellor.
Claims were made that she lied about the state of public finances before her Budget presentation.
Reeves was interviewed regarding these claims.
The interview also looked into whether her policies fit Labour’s promises.
This is related to broader political discussions about trust and policy commitments.
The interview was covered by BBC’s Newscast program.
The discussion involved presenters Laura Kuenssberg and others.
The UK's Conservative Party has requested the financial regulator to investigate possible market abuse by the Treasury and Chancellor Rachel Reeves. This comes after claims that the Treasury shared misleading information about the country's finances before the Budget announcement. Reeves denied misleading the public, but the regulator has received a formal complaint and is expected to respond.
Key Facts
The Conservative Party has called for an investigation into possible market abuse by the Treasury and Chancellor Rachel Reeves.
They claim that the Treasury provided misleading information about the UK's finances before the Budget.
Shadow Chancellor Mel Stride sent a letter to the Financial Conduct Authority (FCA) requesting the investigation.
The FCA's role includes handling reports of market abuse like insider dealing and market manipulation.
Chancellor Reeves announced tax increases and changes to benefit policies in the Budget.
It was revealed that the UK finances were in better shape than Reeves had previously stated.
The Office for Budget Responsibility informed the Treasury that the finances were stronger than believed before the Budget announcement.
Despite controversy, Reeves maintains she did not mislead the public.
Rachel Reeves, UK's Chancellor, has denied misleading the public about the country's financial situation before the Budget announcement. She stated her decisions were clear and aimed at building financial resilience despite criticisms. Reeves' decisions, including possible tax increases, are supported by Prime Minister Keir Starmer as means to tackle economic challenges.
Key Facts
Rachel Reeves is the Chancellor of the UK.
Accusations were made that Reeves misled the public about the UK's financial situation.
Reeves stated that she was clear about her decisions and reasons for them.
The Office for Budget Responsibility had informed her that public finances were better than expected.
Conservative leader Kemi Badenoch criticized Reeves' statements and called for her resignation.
Prime Minister Keir Starmer supports Reeves' budget decisions.
Reeves discussed the need to increase taxes and manage budget headroom effectively.
Part of the budget involves tax changes to support welfare and combat child poverty.
Missouri will allow legal sports betting starting December 1. People can sign up early with BetMGM using a special code to get bonuses before the official launch date.
Key Facts
Legal sports betting begins in Missouri on December 1.
BetMGM offers a special bonus for those who pre-register using the code NEWSWEEK1500.
To receive the bonuses, users must make a minimum deposit of $10.
The offer includes $100 in bonus bets and a $1,500 first bet protection.
Users must pre-register before December 1 to receive the $100 bonus bets.
Bonuses expire in 7 days and cannot be withdrawn directly as cash.
The special offer is only for new customers in Missouri aged 21 and over.
Prime Minister Sir Keir Starmer plans to support the chancellor's Budget aimed at promoting economic growth. There are accusations that Chancellor Rachel Reeves misled people about the economy's health, but the Prime Minister and the government deny these claims. The main focus is on boosting growth, reducing bureaucracy in infrastructure, and addressing environmental rules.
Key Facts
Prime Minister Sir Keir Starmer will back the chancellor's Budget in a speech.
The Budget aims to relieve cost of living pressures and promote economic stability.
Accusations have been made against Chancellor Reeves for being overly negative about the economy.
The government defends Reeves and denies misleading the public.
The Budget seeks to protect investment and public services to boost growth.
Starmer intends to reduce excessive regulations in infrastructure projects.
A report found the UK is costly for building nuclear power infrastructure, and the Prime Minister wants reforms.
Business Secretary Peter Kyle will apply lessons from the nuclear power report to broader infrastructure.
Black Friday sales in the U.S. rose this year, according to Mastercard, with retail sales up 4.1% compared to last year. Both online and in-store sales increased despite concerns about the economy.
Key Facts
Mastercard reported a 4.1% increase in Black Friday retail sales, excluding cars.
Online sales increased by 10.4%, while in-store sales went up by 1.7%.
Demand was strongest for clothing and jewelry during Black Friday.
Retail foot traffic analysis by Pass_by showed in-store visits rose 1.17% compared to last year.
Adobe Analytics estimated online spending at $11.8 billion, which is $1 billion more than the previous year.
Retailers like Walmart raised their financial outlook for the year.
The National Retail Federation expects this holiday season to bring in $1 trillion.
Cyber Monday is considered the next important event for understanding retail performance.
Shoppers in the U.S. spent record amounts online during Thanksgiving Day and Black Friday, reaching new peaks despite economic concerns. Adobe Analytics reported significant increases in spending, with projections for continued high sales through Cyber Monday. Some reports suggest high sales might be due to higher prices rather than more purchases.
Key Facts
Consumers spent $6.4 billion online on Thanksgiving Day and $11.8 billion on Black Friday in the U.S.
These figures marked a 9.1% increase on Black Friday compared to the previous year.
Adobe Analytics expects $5.5 billion spending on Saturday and $5.9 billion on Sunday, with Cyber Monday potentially hitting $14 billion.
Popular purchases included video game consoles, electronics, and home appliances.
Social media ads and AI shopping services influenced spending choices.
Salesforce reported $18 billion in Black Friday digital sales in the U.S. and $79 billion globally.
High sales may be due to increased prices because of tariffs, as the number of items bought decreased by 2% from last year.
Physical store visits on Black Friday dropped 3.6% compared to the previous year.
Many young Americans are choosing to invest in the stock market instead of buying homes. This shift could impact how future generations build their wealth, especially if they have not experienced long economic downturns before. The ease of stock trading and the rising costs of homeownership are key factors influencing this trend.
Key Facts
Young Americans are prioritizing stock market investments over buying homes.
The stock market's allure increased due to the 2020 meme stock craze.
Trading activity by individual (retail) investors has doubled since 2010.
About one-third of 25-year-olds now have investment accounts, up significantly from ten years ago.
Homeownership remains a major part of Americans' wealth, despite young people's shift towards stocks.
Rising home prices and the ease of stock trading are affecting young people’s financial decisions.
Gen Z has better access to retirement savings plans than previous generations.
Economic changes, like falling interest rates, might make homeownership more feasible in the future.
The UK government announced its Budget for 2025, focusing on changes to benefits for larger families, energy bill relief, and rail fare freezes. Labour MPs are generally pleased with these measures, while early public opinion sees mixed reactions. The Budget aims to provide stability amid high taxes, welfare spending, and public debt.
Key Facts
The Budget 2025 includes removing the limit on benefits for larger families.
Measures also include easing energy bills and freezing rail fares.
A new strategy on child poverty will be revealed soon.
Labour MPs generally support the Budget decisions, improving party morale.
The Budget aims to give Labour a clearer identity and boost party unity.
Businesses hope for economic stability and increased confidence.
Early public opinion shows some concern over tax increases and spending power.
Inflation is expected to be higher than anticipated for the year.
Expensive hand sanitizers and lip balms are becoming popular status symbols among school children. These products are used to show off personal style and build social standing among peers.
Key Facts
Expensive hand sanitizers and lip balms are popular among school kids as status symbols.
Teenagers and younger children trade and show these products to boost their personal image.
Touchland's hand sanitizers are popular due to their attractive packaging and lower risk of leaking in bags.
Some students are told by teachers to limit the number of sanitizers they bring to school due to their widespread use.
Lip products like Rhode's Lip Treatments and Summer Friday's Lip Butter Balms are also part of this trend.
Special editions and quickly sold-out products offer extra social value.
Past generations had similar trends with items like Pokémon cards and Lip Smackers.
Although $10 seems expensive for sanitizer, it is cheaper than some collectible items sold online.
Several airlines around the world are dealing with a major recall of Airbus A320 aircraft due to a software issue linked to solar radiation affecting flight controls. The fix takes about two hours per plane and comes as a busy travel period approaches in the U.S. The recall impacts over half of Airbus's A320 fleet globally.
Key Facts
Airbus A320 aircraft have a software issue that can be affected by intense solar radiation.
The repair needed takes about two hours per aircraft.
The recall affects about 6,000 A320 airplanes worldwide.
Avianca expects major effects on its operations due to the recall from November 29 to December 8.
United Airlines stated it is not affected by the recall.
American Airlines needs to update 209 of its 480 A320 planes.
Delta Airlines and Jetstar Airways expect to complete their updates soon with minimal disruptions.
Air Canada does not anticipate any operational impact, while Air France is canceling 35 flights due to the issue.
New pricing deals and aggressive marketing are making weight loss drugs like GLP-1s more mainstream in the pharmaceutical market. Companies like Eli Lilly and Novo Nordisk have lowered prices and struck deals to increase access, even as patients face high costs and potential side effects. The drugs have shown potential uses beyond weight loss, but ongoing research is needed.
Key Facts
Eli Lilly and Novo Nordisk made deals with President Trump to lower prices and expand access to GLP-1 weight-loss drugs for people on Medicare.
Around 1 in 8 Americans are currently using GLP-1 drugs for weight loss or chronic conditions.
Some patients still have to pay the full cost out of pocket, despite insurance coverage.
GLP-1 drugs can cause side effects like nausea and vomiting, leading some users to stop taking them.
The companies are developing pill forms of GLP-1s, which are easier to store and might cost less.
GLP-1s are being tested for other medical conditions, but results have been mixed so far.
Novo Nordisk's GLP-1 pill did not succeed in halting Alzheimer's progression in recent trials.
There is interest in how these drugs work in the brain, with potential applications for addiction and Parkinson's disease.
Congress is considering a new plan that would allow workers to transfer money from their 401(k) retirement accounts into personal annuities without leaving their jobs. This proposal aims to give employees more control over their retirement savings. It involves legislative changes and seeks to simplify and provide more options for retirement planning.
Key Facts
Congress is looking at a proposal for "in-service rollovers" from 401(k) accounts to annuities.
The plan would let employees move money without quitting their jobs.
Democratic Rep. Jimmy Panetta and Republican Rep. Darin LaHood reintroduced the plan.
The proposal is meant to tackle market uncertainty and help secure lifetime income.
The legislation asks the IRS to simplify notices explaining retirement fund options.
People aged 50 and older would have more flexibility if the plan passes.
The proposal builds on changes introduced by the SECURE Act 2.0.
Financial experts from relevant insurance and financial organizations support the plan.
Smaller metro areas in the U.S. are seeing more job growth compared to large cities. These smaller markets are strong in health care and leisure jobs, while big cities like San Francisco and Seattle have fewer job listings, especially in tech.
Key Facts
Smaller metro areas have more job growth than large cities.
Job listings in San Francisco dropped by 37% from February 2020 to October.
Seattle's job listings decreased by 35% in the same period.
Health care and leisure industries boosted job growth in smaller areas.
These two sectors made up over 100% of net job gains in 2025 so far.
A slowdown in white-collar jobs is partly due to hiring freezes and job cuts under the Trump administration.
Washington, D.C., saw a 24% decrease in job listings, influenced by fewer government contracts.
In October 2025, the U.S. saw nine large construction projects, each worth over $1 billion, begin. These projects are boosting the overall construction industry even as other types of construction work face challenges.
Key Facts
Nine megaprojects began in October 2025, each valued at over $1 billion.
These projects include data centers, liquefied natural gas terminals, and manufacturing facilities.
U.S. construction starts rose by 21.1% in October 2025.
Nonresidential construction saw a 17.9% increase, with office and data center projects rising significantly.
Commercial groundbreakings increased by 13.6% in the first ten months of 2025.
Infrastructure and utility project volumes grew by 59.4% in October.
Residential construction fell by 15.4% in October 2025.
Key projects include the Calcasieu Pass LNG Export Terminal and Meta Hyperion Data Centre.
In October, Meghan Markle's online store As Ever had about one-fourth the website visits of Gwyneth Paltrow's Goop, according to a data platform. While As Ever has fewer visitors, it has shown positive indicators like a lower bounce rate, which means visitors stay on the site longer. Meghan Markle's business made improvements over time, and recent sales promotions have been popular.
Key Facts
In October, As Ever received 196,831 visits, while Goop had 812,462 visits.
As Ever had 746,592 page views compared to Goop's 2.3 million.
The bounce rate was lower for As Ever, meaning visitors were more engaged.
20% of As Ever's visitors were referred by the magazine People.
Meghan's store had increased sales in November before Thanksgiving.
As Ever offered a 20% discount, while Goop offered a 40% discount.
Meghan Markle and Gwyneth Paltrow publicly showed they do not view each other as business rivals.
A royal source mentioned that As Ever is performing well and has fixed early issues like supply chain and production problems.
A series of break-ins has affected several neighborhood businesses in Cardiff, Wales. The incidents have caused concern among business owners about the safety of their stores.
Key Facts
Multiple businesses in Cardiff, Wales, have experienced break-ins.
These incidents have happened in neighborhood areas.
The events have raised safety concerns for local shop owners.
Authorities are likely investigating the break-ins.
No specific details about the suspects or stolen items are provided.
The main focus of the news is on Chancellor Rachel Reeves facing criticism for allegedly misleading the public about the UK's financial situation in the Budget. Various newspapers report on reactions and consequences, including potential job loss for Reeves and public disapproval of the Budget. The reports also cover specific details like tax changes and their impact on different sectors and individuals.
Key Facts
Chancellor Rachel Reeves is accused of not disclosing higher wage forecasts that affect the Budget.
Calls for Reeves to be removed from her position come from Conservative leader Kemi Badenoch.
The Office for Budget Responsibility (OBR) reported a £4.2 billion surplus, contrary to what Reeves communicated.
The Chancellor's Budget includes unpopular measures, but some elements like higher minimum wage are favored by voters.
Pensioners might lose winter fuel payments, affecting around 200,000 people.
The hospitality industry faces higher property tax assessments impacting business rates.
A new "mansion tax" could affect wealthy homeowners, with moves to avoid higher council taxes.
Reeves defends the tax increase as necessary to improve public services like schools and hospitals.
"Buy now, pay later" services let people buy things and pay for them later. These services are becoming more popular, but some people worry they might cause more debt.
Key Facts
"Buy now, pay later" services allow people to purchase items and pay for them over time.
These services are gaining popularity among consumers.
Users may believe these services are risk-free.
There are concerns that using these services may lead to more debt for individuals.
Some people are questioning the safety and financial impact of these services.
