Business News

Vintage market trader retires after 60 years

November 28, 2025

Summary

A vintage clothing trader in Birmingham's Rag Market has retired after 60 years of work. The trader ended his long career in the retail business.

Key Facts

The trader worked at Birmingham's Rag Market.
He was involved in selling vintage clothing.
His career lasted for 60 years.
The trader has officially retired.
The retirement marks the end of a long-standing presence at the market.

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BBC Business

'Business rates changes will cost me £62,000', pub boss warns

November 28, 2025

Summary

The owner of a pub chain in southeastern England, Phil Thorley, reports that recent changes to business rates will increase his costs by £62,000 annually. Despite government efforts to lower taxes for smaller retail, leisure, and hospitality businesses, many of these establishments face higher business rates due to increased rateable values and the end of certain discounts. These changes result in significant financial pressure for businesses like pubs.

Key Facts

Phil Thorley runs the Thorley Taverns pub group and expects a £62,000 rise in costs due to new business rates.
Business rates are a tax on commercial properties, calculated using the rateable value, which is the estimated annual rental cost.
Changes in the Budget aimed to reduce taxes for some small businesses but increased the levy on high-value properties.
Many establishments, like pubs, will lose a 40% discount from the COVID era starting in April.
Analysis suggests an average increase of 66% in business rates for pubs.
The government plans to save independent pubs an average of £4,800 per year.
Business owners report financial stress despite government support packages worth £4.3 billion.
Some business owners express concerns about further reducing their profit margins without raising prices.

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BBC Business

Man's Chipotle Bill for 2 People Stuns Internet: 'How in the World'

November 28, 2025

Summary

A man in California expressed surprise after his Chipotle meal for two cost over $50. The meal included two bowls with double meat and guacamole, and two small sodas. Chipotle recently increased menu prices by about 2% due to higher costs from inflation and wages.

Key Facts

A California man spent $52.64 on a meal for two at Chipotle.
The order included two bowls with double meat and guacamole, plus two small sodas.
The man shared the experience on social media, gaining millions of views.
Chipotle recently raised their prices by about 2% across the U.S.
The price increase helps cover costs from inflation and higher wages, especially in California.
There is ongoing online discussion about Chipotle's portion sizes and prices.
The man still enjoys Chipotle's food despite the higher costs.
Social media users reacted strongly to the rising fast food prices.

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Newsweek

California High-Speed Rail Hits New Milestone on $3.5 Billion Contract

November 28, 2025

Summary

The California High-Speed Rail Authority has launched a $3.5 billion bidding process to build the rail tracks and systems for its high-speed rail project in California. This initiative is part of a larger plan to connect major cities like San Francisco, Los Angeles, and Anaheim with a 494-mile rail line. The step marks progress in constructing the railway, which has faced funding and legal challenges since it was first approved in 2008.

Key Facts

The project's bidding process is for a $3.5 billion contract to build track and rail systems.
It will cover a 119-mile section of the high-speed rail currently under construction.
The contract is divided into nine parts, focusing on areas like track setup, electrification, and safety testing.
The rail system aims to connect San Francisco to Los Angeles and Anaheim, totaling 494 miles.
Over 70 miles of track and nearly 60 major structures have been completed.
As part of the project, more than 16,100 jobs have been created.
A prebid conference and small business workshop are scheduled for December 19 in Sacramento.

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Newsweek

U.S. retailers are about to see if shoppers are willing to spend on Black Friday

November 28, 2025

Summary

This year's Black Friday shopping event is taking place amid concerns about the U.S. economy, with shoppers focused on finding good deals. Retailers remain hopeful as consumer spending continues despite worries about the economy. Many stores have adjusted to tariff impacts by managing inventory and pricing.

Key Facts

Black Friday still attracts the most shoppers in stores compared to any other day of the year in the U.S.
U.S. consumer confidence has dropped due to the recent government shutdown, weak job growth, and ongoing inflation.
Retailers report that customers are careful with spending but will pay more for significant occasions.
Many shoppers, like those at Macy's in New York, were drawn by discounts of 40% to 50% on items like shoes and clothes.
Some customers, such as Veronica Nam, note the challenges of finding the best prices because of factors like tariffs and inflation.
Nicholas Menasche, a shopper in New York, plans to spend around the same amount as last year despite economic concerns.
Retailers faced challenges from the Trump administration's tariffs, leading some to adjust shipments or absorb costs.
Nearly 80% of toys sold in the U.S. come from China, and prices on many items have risen due to tariffs.

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PBS NewsHour

Mass Layoff Warnings Climb to Highest Level in Nearly a Decade

November 28, 2025

Summary

A recent study shows that warnings for mass layoffs in the U.S. have risen to their highest level since 2016. This comes as fewer people are being hired, raising concerns about a weaker job market.

Key Facts

WARN notices, which employers issue before mass layoffs, are at their highest level since 2016, excluding the initial pandemic surge.
Goldman Sachs analysis shows more companies are mentioning layoffs in their earnings calls.
Discussions about layoffs often mention artificial intelligence as a factor in the tech sector.
A report noted that U.S. employers announced 153,074 job cuts in October, a 175% increase from the previous year.
Year-to-date job cuts in 2025 have reached 1.1 million, up 65% from the same period in 2024.
Economists are worried because hiring rates are currently low, making it hard for unemployed people to find new jobs.
Recent unemployment benefit filings remain low, but WARN notices suggest more layoffs could happen soon.

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Newsweek

Minister defends 'pragmatic' U-turn on workers' rights

November 28, 2025

Summary

The UK government has changed its plan to allow workers to claim unfair dismissal rights from their first day on the job. The new plan reduces the qualifying period from two years to six months. This change is part of a broader employment rights bill.

Key Facts

The UK government changed its original plan for workers to claim unfair dismissal rights from day one to requiring six months of employment.
The qualifying period for unfair dismissal rights will be reduced from the current two years to six months.
This decision is meant to help pass a broader employment rights bill that includes other benefits like sick pay and paternity leave.
Business groups favored the change, but some members of the Labour Party criticized it.
The original Labour plan promised basic rights from day one, as stated in their election manifesto.
The new six-month period for claiming unfair dismissal rights does not yet have a confirmed start date.
The government already has the power to change the qualifying period without new legislation but plans to write it into law for stability.

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BBC Business

Program Giving $500 Monthly Checks to Americans Extended Into 2026

November 28, 2025

Summary

Cook County in Illinois has extended its guaranteed income program, giving low- and middle-income residents $500 each month until 2026. President Trump has proposed a national plan to give Americans $2,000 checks funded by tariff revenues, but this requires new legislation. Cook County's program began in 2022 with federal COVID-19 relief funds and has shown positive outcomes for recipients.

Key Facts

Cook County will continue its $500 monthly checks to residents through 2026.
The program originally started in 2022 using $42 million of federal COVID-19 relief funds.
A recent vote allocated $7.5 million from the county's 2026 budget to the program.
The program aims to help low- and middle-income families with their financial stability.
President Trump proposed $2,000 "tariff dividend" checks for Americans funded by tariffs.
The proposed national plan would require new legislation to be implemented.
Economic experts say the cost of the national plan would be much higher than current tariff revenue.

Source Verification

Newsweek

Olivia Dean wins refunds for fans after criticising Ticketmaster

November 28, 2025

Summary

Olivia Dean criticized ticket resale policies and secured partial refunds for her fans from Ticketmaster and AXS, as some tickets for her tour had been sold at prices much higher than their original cost. Ticketmaster has responded by capping future resale rates for her shows and refunding markups that fans had already paid. The UK government also plans to make it illegal to resell tickets for more than their original price.

Key Facts

Olivia Dean criticized the ticketing system as exploitative after her concert tickets were resold at 14 times the original price.
Dean wrote an open letter urging ticket companies to improve their resale practices.
Ticketmaster announced it would refund fans for any extra charges on resale tickets and cap future resale rates.
Artists have the option to limit resale prices, but this was not initially used for Dean's tour.
The UK government plans to ban reselling event tickets above their face value.
Dean calls for the music industry to keep live music affordable and accessible.
Other artists like Hayley Williams and Chappell Roan have used reseller caps for their tours.
A group of musicians, including Coldplay and Dua Lipa, urged the UK government to address high ticket resale prices.

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BBC Top Stories

Sanford Health Expands Care to Black Hills With New 168-Bed Medical Center

November 28, 2025

Summary

Sanford Health is building a new medical center in Rapid City, South Dakota, with a $300 million donation from Denny Sanford. The center aims to improve healthcare access in the Black Hills region, including specialized services like oncology and women's health. This effort supports local health infrastructure and strives to attract healthcare workers to the area.

Key Facts

Sanford Health is opening a new medical center in Rapid City, South Dakota.
Denny Sanford donated $300 million for this project.
The center will include specialized services such as emergency care, oncology, and women's health programs.
Sanford aims to attract healthcare professionals, including former military personnel from nearby Ellsworth Air Force Base.
South Dakota has applied for federal funding to improve rural healthcare through the Rural Health Transformation Program.
The new center in Rapid City will have 168 inpatient beds, with space for future expansion.
Sanford Health serves over 2 million patients in several states, including South Dakota and North Dakota.
The local government sees this investment as part of a broader strategy to enhance healthcare and support community growth.

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Newsweek

Uncommon Knowledge: On Black Friday, Payday Lenders Are Now Armed With AI

November 28, 2025

Summary

Many Americans are expected to overspend during the holiday season, with some turning to payday loans, which are expensive short-term loans. Payday lenders now use artificial intelligence (AI) to quickly approve loans and target customers, which might increase financial issues for those borrowing money.

Key Facts

Holiday spending in the U.S. is projected to exceed $1 trillion.
About 66% of Americans plan to borrow money for holiday shopping.
Payday loans have an Annual Percentage Rate (APR) between 300% and 400%.
Around 12 million Americans use payday loans each year.
AI helps payday lenders approve loans faster and target specific customers.
Common payday loan borrowers earn less than $40,000 per year.
African Americans and Latinos are overrepresented among payday loan users.
Many borrowers struggle to repay these loans, leading to cycles of debt and defaults.

Source Verification

Newsweek

Buy nothing new this Black Friday, says charity

November 28, 2025

Summary

A charity called Kennet Furniture Refurbiz is encouraging people to buy second-hand items instead of new ones for Black Friday as part of a campaign called "Buy Nothing New." The charity collects and refurbishes used furniture and appliances, promoting reuse as a more affordable and environmentally friendly alternative. They aim to reduce waste and emissions by extending the life of products.

Key Facts

Kennet Furniture Refurbiz (KFR) is a charity that collects and refurbishes second-hand furniture and appliances.
KFR is part of a national network that promotes the reuse of items to help others and sell them at low prices.
The charity has passed on about 18,000 items weighing about 340 tonnes in the past year.
They believe the stigma around buying second-hand is decreasing and more people are accepting reused items.
KFR highlights that reusing items can help reduce carbon emissions compared to recycling.
The charity recently expanded by offering house clearance services and opening a new location in Swindon.
KFR also collaborates with local councils to provide furniture and appliances for people in need.
The "Buy Nothing New" campaign aims to combat excessive consumption associated with Black Friday.

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BBC Business

ATM Users Can Claim Cash in $1.23M Settlement—No Proof Required

November 28, 2025

Summary

American ATM users can receive compensation from a $1.23 million class-action settlement without needing to prove how they were affected. The settlement involves Flagstar Financial, which faced allegations of charging unfair fees to its customers. Eligible customers will automatically receive payments after the settlement is finalized.

Key Facts

A $1.23 million class-action settlement involves Flagstar Financial, previously known as New York Community Bank (NYCB).
The case addresses accusations of unfair ATM and non-sufficient funds (NSF) fees charged to U.S. customers.
Eligible participants include checking account holders charged certain fees between March 2017 and January 2020, and those with multiple ATM fees between August 2020 and February 2024.
Customers who qualify will receive payments based on the fees they were charged and do not need to prove their claims.
Payments will be distributed as account credits or checks, depending on current bank affiliation with Flagstar Financial.
Class-action settlements resolve lawsuits for a large group of people who have similar claims.
Customers wishing to opt-out of this settlement have until December 15, 2025.
A final court approval hearing is scheduled for January 13, 2026, after which payments will be made.

Source Verification

Newsweek

PepsiCo’s CSO Explains Weaker Climate and Plastic Packaging Targets

November 28, 2025

Summary

PepsiCo announced changes to its climate and plastic packaging goals, moving its net-zero emissions target to 2050 from 2040 and relaxing some near-term goals. The company explained these changes by noting slower global progress on climate action. They also emphasized aligning their goals with science-based targets to meet international climate agreements.

Key Facts

PepsiCo extended its target to achieve net-zero emissions from 2040 to 2050.
The company relaxed near-term goals for reducing emissions in its supply chain, known as Scope 3 emissions.
Goals for plastic packaging have been adjusted, including the removal of a target for reusable containers.
International progress on climate and plastic waste did not meet expectations, affecting PepsiCo's ability to meet its initial targets.
PepsiCo aims to ensure its goals align with science-based targets for limiting global warming according to the Paris Agreement.
The company believes some of its sustainability goals have become more aggressive rather than weaker.
Scope 3 emissions depend on broader system changes, which have been slower than expected.

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Newsweek

Florida Is Talking Up Big Wins From Mamdani Victory

November 28, 2025

Summary

Some Florida real estate experts report an increase in interest from New Yorkers looking to move to Florida after Zohran Mamdani became New York City's mayor-elect. Ads and initiatives are targeting wealthy business owners and leaders in New York to relocate to areas like Palm Beach County for lower taxes and other advantages.

Key Facts

Zohran Mamdani was elected as New York City’s mayor on November 4.
Florida politicians and real estate agents targeted New Yorkers with ads inviting them to move to Florida.
The mayor of Boca Raton used a billboard in Times Square to attract New Yorkers to Palm Beach County.
There is an expectation of increased migration from the Northeast, particularly from New York, to Florida.
Real estate agents in South Florida are receiving more inquiries from New Yorkers wanting to relocate.
New Yorkers are reportedly looking to move their business assets and investments to Florida.
Florida cities like Boca Raton are promoting their lower taxes and available office spaces to attract companies.

Source Verification

Newsweek

Louvre hikes ticket prices for most non-EU tourists by 45%

November 28, 2025

Summary

The Louvre museum will increase ticket prices by 45% for most visitors from outside the European Union starting next year. This change aims to fund improvements to the museum's security and infrastructure. The price rise comes after criticism following a major jewelry theft in October.

Key Facts

The Louvre will charge €32 ($37; £28) for tickets to most non-EU tourists starting 14 January.
This price increase is expected to help raise funds for renovations and security upgrades.
A significant heist occurred in October, with jewelry worth $102 million stolen from the museum.
An audit highlighted problems with the Louvre's security and old infrastructure.
The museum received nearly 9 million visitors in 2024, many from outside the EU, including the U.S. and China.
More than 10% of visitors are from the U.S., and about 6% are from China.
The museum plans to address issues of overcrowding and improve visitor facilities.
French President Emmanuel Macron has supported higher entrance fees for non-EU residents in future years.

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BBC Top Stories

BBQ Sauce Recall Issued Over Life-Threatening Consumer Risk

November 27, 2025

Summary

Anthony's BBQ Sauce in Oregon recalled a barbecue sauce because it may contain anchovy without being listed on the label, posing a danger to people with fish allergies. The recall affects products sold between February and November at two stores in Oregon. No health issues have been reported so far, and customers are advised to return the product for a refund.

Key Facts

Anthony's BBQ Sauce recalled a product due to undeclared anchovy which could be harmful to people with fish allergies.
The affected sauce is "Anthony's Barbecue & Dip-It Sauce" sold in 15-ounce glass bottles.
The products were sold at Taylor’s Sausage Country Store in Cave Junction, Oregon, and Long’s Meat Market in Eugene, Oregon.
The recall includes items sold between February and November of this year.
The FDA has reported no illnesses linked to the recalled sauce.
The recall is conducted with FDA and Oregon Department of Agriculture awareness.
Customers can return the product for a refund if they have a fish allergy.
Questions about the recall can be directed to Anthony's BBQ Sauce at 541-661-4508 during designated hours.

Source Verification

Newsweek

How will the changes to workers' rights affect you?

November 27, 2025

Summary

The UK government plans to change workers' rights, with laws set to take effect in April 2026. Changes include adjusting unfair dismissal rights and zero-hours contracts, and introducing flexible working and improved sick pay rules. Business groups have mixed reactions, and it's unclear how all proposals will work.

Key Facts

The Employment Rights Bill aims to update workers' rights in England, Scotland, and Wales by April 2026.
Originally, the bill proposed unfair dismissal protection from day one of employment, but this changed to six months after business group opposition.
Zero-hours contract workers will be offered guaranteed-hours contracts based on a 12-week working period if they choose.
The bill proposes making flexible working the "default" unless employers can prove it is unreasonable.
Current sick pay rules will change, removing the waiting period, allowing 1.3 million low-paid workers to receive sick pay from the first day of illness.
The reforms will include maintaining day-one rights against discrimination, and rights to sick pay and paternity leave.
The changes will apply to Great Britain but not Northern Ireland, where employment law differs.

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BBC Business

Olivia Dean Shares Ticketmaster Update After Resale Fiasco

November 27, 2025

Summary

British singer Olivia Dean announced that Ticketmaster and AXS will refund the difference between the face value and higher resale prices for tickets to her North American tour. This decision aims to make concert tickets affordable and put a stop to inflated resale prices.

Key Facts

Olivia Dean announced refunds for ticket price differences for her North American tour.
Ticketmaster and AXS are the platforms agreeing to issue refunds.
The decision helps stop high ticket resale prices and allows sales only at face value.
Ticket resale prices have been a significant issue, seen in past events like Taylor Swift's tour.
Dean criticized scalpers and the use of bots for raising ticket prices.
Ticketmaster claims under 20% of primary tickets were listed for resale for Dean’s shows.
Dean's single "Man I Need" has been successful in U.S. and U.K. music charts.
Ticketmaster plans to issue refunds beginning in early December to affected buyers.

Source Verification

Newsweek

I already feel judged for having a Motability car - the Budget didn't help

November 27, 2025

Summary

Recent changes to the UK's Motability scheme, which helps disabled people lease adapted vehicles, have led to concerns among users. The Budget introduced new taxes on the insurance included in a Motability lease and VAT on upfront payments for higher-value cars, causing fear of increased costs and reduced accessibility for disabled individuals.

Key Facts

The UK Chancellor announced tax changes affecting the Motability scheme.
Tax will be applied to insurance in a Motability lease and VAT to advanced payments for high-value cars.
The Motability scheme provides vehicles to eligible disabled individuals, which can be adapted to their needs.
The number of cars leased through the Motability scheme has increased to 860,000.
Changes may raise costs, potentially impacting the independence of disabled people.
Users of the scheme feel judged and express frustration at being misunderstood as living off benefits.
Concerns are raised that these budget changes will increase costs and reduce accessibility.
Some critics argue that not all current users should qualify, particularly those with certain mental health conditions.

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BBC Top Stories

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