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Just the Facts, from multiple news sources.

Business News

Business news, market updates, and economic developments

Tice £91,000 tax row is 'minor administrative error', party claims

Tice £91,000 tax row is 'minor administrative error', party claims

April 12, 2026 • BBC Business

Summary

A property company linked to Richard Tice, deputy leader of Reform UK, did not pay £91,000 in required tax before distributing dividends. Tice and his party say this was a "minor administrative error" and that the correct tax was eventually paid through other means. Labour has called for an investigation, questioning Tice's integrity.

Key Facts

  • Richard Tice is the deputy leader of Reform UK and involved with a property company.
  • The company reportedly failed to pay £91,000 in tax before distributing dividends.
  • Tice and Reform UK claim the issue was a minor error and the correct tax was paid overall.
  • Labour has described the situation as a "major scandal" and wants an investigation.
  • The company, Quidnet REIT Limited, invests in property.
  • HM Revenue and Customs (HMRC) does not comment on individual cases.
  • Labour previously claimed Tice's company avoided nearly £600,000 in tax.
  • Tice argued there is no obligation to pay more tax than legally required.
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BBC Business BBC Top Stories
Map Shows Where US Businesses Close the Fastest

Map Shows Where US Businesses Close the Fastest

April 12, 2026 • Newsweek

Summary

A recent analysis by LendingTree of U.S. Labor Department data shows that 22.1% of small businesses in the U.S. fail within their first year. The survival rates vary by state, with Washington, D.C. having the highest first-year failure rate at 32.9%. Some sectors, like the information industry, have higher failure rates than others.

Key Facts

  • 22.1% of new U.S. businesses fail within their first year.
  • By ten years, 65.3% of businesses close.
  • Washington, D.C. has a first-year failure rate of 32.9%, the highest in the U.S.
  • Washington state has the lowest first-year failure rate at 17.5%.
  • The information industry has the highest first-year failure rate at 28.4%.
  • Professional services have a 25.5% first-year failure rate.
  • Business owners are increasingly worried about inflation and economic conditions.
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Newsweek
4/12: Sunday Morning - The Money Issue

4/12: Sunday Morning - The Money Issue

April 12, 2026 • CBS News

Summary

The CBS News program "Sunday Morning" on April 12 focused on various money-related topics. These included challenges of buying a home, health insurance problems, electric vehicles from China, concerns about data centers for artificial intelligence, and other consumer and financial issues.

Key Facts

  • The show highlighted difficulties people face when trying to buy a home.
  • It covered problems with health insurance companies denying claims.
  • Chinese-made electric vehicles (EVs) were discussed.
  • Some people oppose building data centers used for artificial intelligence.
  • The program featured stories about American Girl dolls and skin care entrepreneur Scarlett Johansson.
  • It included segments on roller coasters and why bingo is becoming more popular.
  • The show asked if mobile phones are secretly listening to conversations.
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CBS News
Why inflation is the economic problem of the decade

Why inflation is the economic problem of the decade

April 12, 2026 • Axios

Summary

Inflation has become a significant and ongoing issue in the United States over the past five years. Rising prices, especially in gas, have been affecting the economy, and people are unhappy with the way it impacts their daily lives. Recent data shows a substantial increase in the cost of living, creating negative feelings about the economic situation among Americans.

Key Facts

  • Inflation began accelerating significantly around 2021.
  • Gasoline prices in March increased by 21.2%, the highest single-month rise since the 1960s.
  • The Consumer Price Index saw its highest spike since 2022, with a year-over-year increase of 3.3%.
  • Another inflation measure showed a 4.1% annual rate of inflation from December to February.
  • U.S. consumer sentiment about the economy is at its lowest in decades.
  • Since January 2021, consumer prices have risen a total of 26%.
  • Unemployment isn't high, but new hiring rates are low, impacting job seekers.
  • Wages have not kept up with inflation, rising 3.5% in the past year compared to 5.9% in 2022.
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Axios
What To Do if Your Medication Isn’t Covered by Insurance

What To Do if Your Medication Isn’t Covered by Insurance

April 12, 2026 • Newsweek

Summary

The article discusses what to do if a medication is not covered by health insurance. It offers solutions like asking for alternatives, requesting exceptions from insurance, and applying for assistance programs to help cover costs.

Key Facts

  • Health insurance plans have a list called a formulary that shows which medications they cover.
  • Sometimes a medication is not covered, leaving the user to pay the full cost.
  • People can try using generic or similar medicines which might be cheaper.
  • It's possible to ask the insurance for a special exception to cover the medication.
  • Patients can also apply for programs that help pay for prescriptions, like patient assistance and copay programs.
  • Some insurance plans require trying cheaper medications first, a process known as step therapy.
  • Medications in higher tiers on an insurance formulary typically cost more, but one can request a tier exception to reduce costs.
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Newsweek
British Steel 'needs nationalising by the summer'

British Steel 'needs nationalising by the summer'

April 12, 2026 • BBC Business

Summary

British Steel might need to be taken over by the UK government by the summer if a deal with the Chinese owner, Jingye, does not work out. The Scunthorpe plant, which employs a large portion of the workforce, is currently under government control to avoid closing its blast furnaces. The ongoing uncertainty about the company's ownership affects workers and the local economy.

Key Facts

  • An emergency law allowed the UK government to take control of British Steel in April 2025.
  • The Scunthorpe plant employs about 2,700 people, which is three-quarters of its workforce.
  • Labour MP Nic Dakin suggests bringing British Steel into public ownership if no deal is reached with Jingye.
  • Industry minister Chris McDonald emphasizes the importance of resolving the deal.
  • It costs the UK government approximately £1.3 million a day to operate British Steel.
  • British Steel secured contracts for a railway in Turkey and tracks for Network Rail.
  • No decision has been made about nationalizing British Steel, as negotiations with Jingye continue.
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BBC Business
Faisal Islam: Why the government is relaxed about Chinese car imports

Faisal Islam: Why the government is relaxed about Chinese car imports

April 11, 2026 • BBC Top Stories

Summary

The UK government is not worried about the rise of Chinese car imports, including the Jaecoo 7, which became the top-selling car in the UK. Although some are concerned about domestic car production, the government sees opportunities for jobs and investment. They are encouraging Chinese car manufacturers to set up factories in the UK.

Key Facts

  • A UK site, called Agratas, will become the largest electric vehicle battery factory next year, powering Jaguar Land Rover's electric cars.
  • Chinese car imports have increased and now account for about 15% of new cars sold in the UK.
  • The UK's Business Secretary, Peter Kyle, supports Chinese investment in car manufacturing in the UK.
  • Peter Kyle announced a £380 million grant to the Agratas facility.
  • UK domestic car production has decreased in the past decade.
  • Concerns exist about competition from Chinese cars and the impact on UK car manufacturers.
  • Some believe government regulations banning petrol and diesel cars have hurt UK car makers.
  • Unlike the EU and the US, the UK has not imposed tariffs on Chinese car imports.
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BBC Top Stories BBC Business
Tribally owned gas stations offer cheaper fuel as Iran war drives up prices

Tribally owned gas stations offer cheaper fuel as Iran war drives up prices

April 11, 2026 • PBS NewsHour

Summary

Gas prices in the United States have increased due to the Iran war, but tribally owned gas stations on Native American reservations offer cheaper fuel because they are exempt from state fuel taxes. People use apps to find affordable gas, with prices varying across regions such as California, New Mexico, and New York.

Key Facts

  • Gas prices have risen significantly since the Iran war started, reaching an average of $4.15 per gallon.
  • Tribally owned gas stations can sell fuel at lower prices because they don't have to pay state fuel taxes.
  • There are nearly 500 tribally owned gas stations across the U.S.
  • In Washington state, gas was $4.84 per gallon on a reservation, about 75 cents cheaper than nearby areas.
  • Some stations in California, New Mexico, and New York offer prices 50 to 60 cents lower than local competitors.
  • U.S. courts have ruled that states cannot impose taxes on Native American lands, allowing tribes to offer cheaper gas.
  • The Supreme Court upheld a treaty ensuring the Yakama Nation in Washington state is exempt from state fuel taxes.
  • Apps like Gas Buddy help drivers find the cheapest gas stations.
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PBS NewsHour
New vehicles now sell for an average of nearly $50,000

New vehicles now sell for an average of nearly $50,000

April 11, 2026 • PBS NewsHour

Summary

The average cost of a new vehicle in the United States has nearly reached $50,000, increasing by 30% over the last six years. Rising car prices are largely due to automakers focusing on bigger, more expensive models, along with other economic factors such as high inflation and tariffs. Many consumers are responding by choosing longer loan terms, but this ultimately makes buying a car more expensive due to additional interest costs.

Key Facts

  • New vehicles in the U.S. now have an average price close to $50,000.
  • Car prices have increased by 30% over the past six years.
  • The proportion of cars sold for less than $30,000 has decreased to about 13%.
  • Many buyers are choosing 7-year loans, up from nearly 8% to over 12%.
  • Longer loans mean higher total costs due to interest payments.
  • Automakers have reduced production of smaller, cheaper cars in favor of larger SUVs and trucks.
  • The COVID-19 pandemic and supply chain issues have contributed to the rise in car prices.
  • Car insurance costs have increased by 55%, and repair costs by 48%, compared to six years ago.
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PBS NewsHour
Home Sellers Break Worrying Record

Home Sellers Break Worrying Record

April 11, 2026 • Newsweek

Summary

In February, more than one third of U.S. home sellers lowered their asking prices, marking a record high for the month. The market has become more favorable to buyers due to a rise in the number of homes available. Southern U.S. cities like San Antonio and Austin, Texas saw some of the highest rates of price cuts.

Key Facts

  • Over one third of home sellers reduced their asking prices in February, the highest level since records began in 2012.
  • On average, sellers cut their prices by $40,915, or 7.3%.
  • In some areas, such as San Antonio, Texas, over 57% of sellers lowered prices.
  • The U.S. currently has about 46.3% more home sellers than buyers.
  • The increased number of available homes has led to more negotiation power for buyers.
  • Many sellers in the South, especially in Texas and Florida, are cutting prices due to a large number of new homes.
  • Sellers in regions like the West and Northeast face less pressure to lower prices because demand remains high.
  • The data is based on closed sales and does not account for further price cuts that might happen before relisting.
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Newsweek
14 Ways To Maximize Your Tax Refund This Year

14 Ways To Maximize Your Tax Refund This Year

April 11, 2026 • Newsweek

Summary

The article provides 14 suggestions on how to use your tax refund effectively. It focuses on financial planning, such as saving for retirement or paying off debt, as well as personal expenditures like vacations or special purchases.

Key Facts

  • The average tax refund last year was $3,167.
  • Using a tax refund to pay down debt can reduce interest payments.
  • Adding funds to a retirement account can help them grow over time.
  • Starting or boosting an emergency fund can prepare you for unexpected expenses.
  • Making a larger down payment on a car can lower future loan costs.
  • Tax refunds can fund vacations or significant personal purchases.
  • Donations to charity or family activities, like summer camps, are alternative uses.
  • Treating yourself to new experiences or home improvements can be another way to use your refund.
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Newsweek
Chipotle Confirms Tipping Rules After Diner’s Post Goes Viral—‘What Gives’

Chipotle Confirms Tipping Rules After Diner’s Post Goes Viral—‘What Gives’

April 11, 2026 • Newsweek

Summary

A Chipotle customer questioned online why the restaurant's app limits tips to no more than 50% of the order total. Chipotle confirmed that the cap exists to prevent errors and fraud. The discussion reflects growing public concern about tipping practices in the U.S.

Key Facts

  • A Chipotle customer shared a social media post about tip limits on the restaurant’s app.
  • The app does not allow tips to exceed 50% of the order total.
  • Chipotle confirmed the tip cap to prevent customer errors and fraud.
  • Many Americans report confusion over current tipping norms.
  • A Pew Research Center survey found 72% of U.S. adults think tipping is expected more now than five years ago.
  • Bankrate found 63% of Americans have at least one negative view about tipping.
  • The tipping debate suggests some think businesses should pay workers more directly.
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Newsweek
Margaritaville at Sea Still Lets First Responders Cruise for Free

Margaritaville at Sea Still Lets First Responders Cruise for Free

April 11, 2026 • Newsweek

Summary

Margaritaville at Sea offers a unique cruise experience with smaller ships, avoiding the typical mega-ship attractions. They have a special program called Heroes Sail Free, which provides free cruises to military personnel, veterans, first responders, and educators. The cruises depart from Florida to destinations like the Caribbean and Mexico.

Key Facts

  • Margaritaville at Sea's ships are smaller compared to other cruise lines.
  • Their ships focus on live performances, themed parties, and relaxed environments rather than typical large cruise ship attractions.
  • They offer a Heroes Sail Free program, which gives free cruises to military, veterans, first responders, and educators.
  • This program began in 2022 with the help of GovX.com.
  • The ships depart from Tampa and Palm Beach, Florida.
  • Destinations include southern Florida, the Caribbean, and Mexico.
  • Margaritaville at Sea's price points are lower than MSC and Carnival cruise lines.
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Newsweek
Why Gen Z Is Getting Hit Hardest by Tax Scams

Why Gen Z Is Getting Hit Hardest by Tax Scams

April 11, 2026 • Newsweek

Summary

Younger adults, especially those aged 18-24, are increasingly becoming victims of tax scams, according to a 2026 McAfee survey. This generation's confidence in their tech-savvy skills and trust in AI tools may make them more vulnerable. Scammers exploit this confidence and younger adults often take fewer protective measures against fraud.

Key Facts

  • 42% of 18-24-year-olds reported falling for tax scams, the highest rate among age groups.
  • 23% of young adults experienced tax-related identity theft, compared to 5% of seniors.
  • Only 56% of young adults avoid unknown links, versus 81% of older adults.
  • A smaller percentage of younger adults use anti-malware protection compared to older adults.
  • The increase in tax scam vulnerability is linked to overconfidence and less caution among young adults.
  • Many younger people trust AI tools for tax preparation, which scammers exploit.
  • 32% of Gen Z plan to use AI for taxes, higher than older generations.
  • Scammers now use more polished, professional-looking schemes to deceive victims.
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Newsweek
News Wrap: Inflation report shows the biggest increase since 2024

News Wrap: Inflation report shows the biggest increase since 2024

April 10, 2026 • PBS NewsHour

Summary

The latest inflation report reveals the highest price increase since 2024. President Trump’s administration announced plans for a new triumphal arch in Washington, D.C. Meanwhile, Russia and Ukraine are set to observe a temporary ceasefire for Orthodox Easter.

Key Facts

  • The recent inflation report indicates the largest price rise since 2024.
  • President Trump's administration plans to build a triumphal arch in the U.S. capital.
  • The arch plans are part of President Trump’s efforts to leave a lasting legacy.
  • Russia and Ukraine have agreed to a temporary ceasefire.
  • The ceasefire is planned for the celebration of Orthodox Easter.
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PBS NewsHour
Mariah Carey Is Selling the NYC Home That Made MTV 'Cribs' History

Mariah Carey Is Selling the NYC Home That Made MTV 'Cribs' History

April 10, 2026 • Newsweek

Summary

Mariah Carey is selling her Tribeca triplex penthouse in New York City for $27 million. The home became famous after being featured on MTV's "Cribs." Carey originally bought multiple units in 1999 and combined them into a large living space.

Key Facts

  • Mariah Carey has listed her Tribeca penthouse for $27 million.
  • She originally bought several units in the building in 1999 for $9 million and combined them.
  • The penthouse covers 12,700 square feet, including 1,100 square feet of outdoor terraces.
  • The property offers 360-degree views from the Hudson River to the Manhattan skyline.
  • It is the first time this property is on the market since Carey purchased it.
  • The penthouse includes eight bedrooms, eight bathrooms, a gym, and a sunroom.
  • The episode featuring this home on MTV's "Cribs" in 2002 contributed to its fame.
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Newsweek
US federal court hears new case against Trump tariffs

US federal court hears new case against Trump tariffs

April 10, 2026 • Al Jazeera

Summary

A U.S. federal court is reviewing a case challenging President Donald Trump's decision to impose a 10 percent tariff on global imports. This lawsuit comes after the Supreme Court blocked his earlier, broader tariff effort. A group of states and businesses argue the tariffs misuse old legal authority meant for serious economic emergencies.

Key Facts

  • President Trump imposed a 10 percent tariff on global imports starting February 24.
  • The U.S. Court of International Trade is evaluating the legality of these tariffs.
  • The Supreme Court previously struck down Trump's attempt at broader tariffs.
  • Twenty-four states and two businesses filed a lawsuit against the new tariffs.
  • Critics argue the tariffs misuse a law meant for serious economic crises in the 1970s.
  • The Trade Act of 1974 allows emergency tariffs but only for short-term issues.
  • The tariffs were announced on the same day Trump faced a Supreme Court defeat over earlier tariffs.
  • No prior U.S. President used the laws cited by Trump for imposing tariffs.
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Al Jazeera
Federal court hears new case against Trump's latest global tariffs

Federal court hears new case against Trump's latest global tariffs

April 10, 2026 • PBS NewsHour

Summary

The U.S. Court of International Trade is reviewing a case against President Donald Trump's global tariffs. These tariffs were introduced after the Supreme Court rejected his initial plan for even higher tariffs.

Key Facts

  • President Trump introduced global tariffs after using the 1977 International Emergency Economic Powers Act (IEEPA).
  • He declared the U.S. trade deficit a national emergency to impose these tariffs.
  • The tariffs aim to apply taxes on imports from multiple countries.
  • The Supreme Court previously struck down President Trump's proposal for larger tariffs.
  • The current legal case is being heard by the U.S. Court of International Trade in New York.
  • This court is specialized in handling trade-related cases.
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PBS NewsHour
Map Reveals Top 10 Cities Where Home Prices Increased Most

Map Reveals Top 10 Cities Where Home Prices Increased Most

April 10, 2026 • Newsweek

Summary

A study by SmartAsset found that home prices in the U.S. increased the most in Toledo, Ohio; Lincoln, Nebraska; and San Francisco, California, between 2025 and 2026. Meanwhile, the biggest decreases in home prices occurred in Oakland, California; St. Petersburg, Florida; and Naples, Florida. These changes could affect where people decide to buy homes and how well homes sell in different areas.

Key Facts

  • Toledo, Ohio, had the highest home price increase at 5.6% between 2025 and 2026.
  • Lincoln, Nebraska, saw a 4.11% rise in home prices, ranking second.
  • San Francisco, California, experienced a 4.04% increase in home values.
  • Overall, typical home values in large U.S. cities dropped by 1.04%.
  • Oakland, California, saw the largest decline in home prices at -9.07%.
  • This year, national home values are expected to rise by 0.7% by the end of 2026.
  • There is a surplus of sellers compared to buyers in the U.S. housing market.
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Newsweek
EU airline industry fears fuel shortages if Strait of Hormuz stays closed

EU airline industry fears fuel shortages if Strait of Hormuz stays closed

April 10, 2026 • BBC Business

Summary

European airports are worried about jet fuel shortages if the Strait of Hormuz remains closed. This closure threatens the fuel supplies that Europe gets from the Persian Gulf, which makes up half of Europe's jet fuel imports. Airports are concerned about disruptions especially as the busy travel season approaches.

Key Facts

  • The Strait of Hormuz is closed, causing concerns about jet fuel shortages in Europe.
  • The Persian Gulf supplies about 50% of Europe's aviation fuel imports.
  • Smaller airports in Europe are particularly at risk from these shortages.
  • The Airports Council International (ACI) Europe warns of potential severe disruptions to airport operations and connectivity.
  • The current European jet fuel prices have doubled compared to pre-war levels.
  • ACI Europe suggests the EU should consider collective jet fuel purchasing.
  • ACI Europe advocates for temporarily lifting restrictions on jet fuel imports.
  • Air travel significantly contributes to the European economy and supports millions of jobs.
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