Doug McMillon, the CEO of Walmart, is retiring, and John Furner will take over the position on February 1. During McMillon's time as CEO, Walmart's stock increased significantly, and the company expanded its reach worldwide.
Key Facts
Doug McMillon is retiring as Walmart's CEO.
John Furner, currently leading Walmart U.S., will be the new CEO.
The leadership change will happen on February 1.
Walmart faces economic challenges, such as tariffs and affordability issues.
Under McMillon, Walmart's stock price has quadrupled since November 2013.
Walmart serves 270 million customers weekly in 19 countries.
The company operates more than 10,750 stores globally, including online platforms.
A U.S. company, RedBird Capital, has decided not to go ahead with buying the Daily and Sunday Telegraph newspapers. The deal was supposed to be for £500 million but faced regulatory issues and political pushback.
Key Facts
RedBird Capital is a U.S. investment group.
They planned to buy the Daily and Sunday Telegraph for £500 million.
Their previous attempt was stopped due to funding from Abu Dhabi's IMI group.
New laws limit foreign investments in newspapers, allowing only up to a 15% stake.
The deal was expected to face a government regulatory review.
Questions arose about RedBird's funding from China and Gulf countries.
The Daily Telegraph has been without stable ownership for over two years.
Francis and John Ebeck, a couple from Ottawa, Canada, found a valuable Gucci clip at a yard sale in Kansas. They bought it for $2.50, and an identical item previously sold for $1,500. The couple often hunts for bargains, turning their thrifting hobby into a way to make extra money.
Key Facts
Francis and John Ebeck bought a Gucci wolf-head clip at a Kansas yard sale for $2.50.
The clip had "Gucci Italy" engraved, indicating it was a designer item.
A similar Gucci clip has sold for $1,500, suggesting high value.
The couple spends a lot of time thrifting, using it as a side business.
Thrifting helped the Ebecks cope with family bereavements.
The U.S. secondhand market generated an estimated $53 billion in 2023.
Jaguar Land Rover (JLR) reported a significant financial loss for the quarter ending in September due to a cyber-attack. The attack stopped their production lines for over a month, affecting car sales and supply chains. JLR also incurred extra costs related to dealing with the cyber-attack and received government support to help their suppliers financially.
Key Facts
JLR reported a loss of £485 million for the three-month period ending in September.
The company had a profit of £398 million in the same period the previous year.
A cyber-attack at the end of August disrupted JLR's production lines for over a month.
JLR faced additional "cyber-related costs" of £196 million for consultancy and support.
Quarterly revenues fell by 24%, from £6.5 billion last year to £4.5 billion.
The US tariffs and phasing out of Jaguar models also affected revenues.
JLR's production stoppage contributed to the lowest UK car production for September since 1952.
The government provided loan guarantees worth up to £1.5 billion to assist JLR's supply chain.
Wall Street has already included potential impacts of upcoming policies like tax cuts and stimulus checks from the White House into the current stock prices. These policies are expected to offer benefits such as tax relief and increased spending but may not significantly boost stock values further if they occur as expected.
Key Facts
Wall Street has included the effects of potential White House policies in current stock prices.
President Trump discussed $2,000 stimulus checks, but the details are unclear.
Higher-income earners may see tax reductions in 2026 from the One Big Beautiful Bill.
Middle- and lower-income households might receive smaller tax relief.
Businesses can now deduct their research and development costs.
Wall Street experts believe the market has already considered these policies.
The potential $2,000 stimulus checks may not be fully reflected in market prices yet.
If strong stimulus checks occur, there could be concerns about inflation and interest rate hikes.
The Kia Telluride and Nissan Pathfinder, popular SUVs in the U.S., have received significant design updates. These changes aim to keep the vehicles appealing in a competitive market. The updates include new exterior and interior designs and improved technology features.
Key Facts
The 2027 Kia Telluride has a completely new design for both the outside and inside.
The 2026 Nissan Pathfinder has mid-generation updates, including new front and rear designs and a redesigned dashboard.
Both SUVs have advanced infotainment systems and include wireless Apple CarPlay and Android Auto.
The Nissan Pathfinder Platinum model now has luxury features such as quilted seats and 20-inch wheels.
The Kia Telluride adopts design elements from the Kia EV9, another SUV model.
Both SUVs are targeting families and active individuals with higher incomes.
Kia skipped the 2026 model year for the Telluride, moving directly from 2025 to 2027.
New changes will allow Generation Z to qualify for home loans without meeting the previous minimum credit score requirement of 620. Lenders will now evaluate broader financial behaviors and history rather than just credit scores, making it easier for some young people to buy homes.
Key Facts
The minimum credit score requirement of 620 for home buyers is being removed.
This change aims to help young people, especially those in Generation Z, who have limited credit history.
Instead of focusing solely on credit scores, lenders will consider income stability, debt levels, and rent payment history.
This may allow more Generation Z buyers to qualify for mortgages, even if their credit scores are low.
Responsible borrowers with a short credit history stand to benefit, though financial education is crucial for understanding the costs of homeownership.
The average U.S. home is valued at about $360,727.
Lenders may adjust prices or tighten rules due to the increased risk of lower credit score loans.
Experts do not expect a large increase in newly-qualified borrowers from this rule change.
Chick-fil-A is trying out two chicken-and-waffle sandwiches at some restaurants in Baltimore, Maryland, and San Antonio, Texas. This test will last from December 1 to January 24, or until they run out. The company will decide about a nationwide launch based on feedback and sales during this trial period.
Key Facts
Chick-fil-A is testing two new chicken-and-waffle sandwiches in Baltimore, Maryland, and San Antonio, Texas.
The test will run from December 1 to January 24, or until supplies are gone.
Baltimore will offer both a Chicken & Waffles Breakfast Sandwich and a regular Chicken & Waffles Sandwich; San Antonio will only have the breakfast version.
The breakfast sandwich is available until 10:30 a.m. at participating stores.
Each sandwich comes with maple waffles, applewood-smoked bacon, a honey butter spread, and a choice of spicy or original chicken filet, with syrup.
Chick-fil-A will use customer feedback and sales data to decide if the sandwiches should be offered nationwide.
Testing new menu items in select locations before a national rollout is common in the fast-food industry.
Bank of America is launching a new platform called '401k Pay' on November 17. This tool helps people convert their 401(k) retirement savings into regular income after they retire. The service is available at no extra cost to participating businesses and their employees.
Key Facts
'401k Pay' is designed to help people turn their 401(k) savings into steady retirement income.
The platform will be available starting November 17.
It offers features like flexible payment options and real-time income tracking.
Over 70 million customers and small businesses in the U.S. can access the new tool.
The service is free for businesses and employees who use Bank of America's retirement programs.
A Bank of America report shows 36% of workers want better retirement planning resources.
The tool was created with input from Bank of America's corporate clients to address workers' needs on retirement income.
President Trump’s administration is removing tariffs on coffee and other products from certain countries to help lower grocery costs. This decision comes amid concerns about rising food prices, which have become a political issue. The tariffs' lift is expected to offer limited relief as it applies to a small portion of U.S. imports.
Key Facts
President Trump's team is removing tariffs on coffee and other goods from countries like Argentina and Ecuador.
The tariffs affected prices of items like coffee, which saw significant price increases.
These changes aim to address concerns about rising grocery costs affecting consumers.
Brazil and Colombia, major coffee suppliers to the U.S., will still face tariffs.
Countries benefiting from the tariff relief account for only about 7% of U.S. coffee imports.
The main goal of the tariffs was to boost American manufacturing, not impact food prices.
White House policies have focused on lowering inflation and essential item prices.
Experts say the tariff changes may offer limited price relief due to external factors like climate issues affecting crops.
The UK's government borrowing costs have increased after reports suggested that the Chancellor, Rachel Reeves, has decided against raising income tax in the upcoming Budget. The interest rates on UK government bonds, which represent borrowing costs, have risen as a result. This decision has raised concerns about how the government will manage its finances without the expected tax increase.
Key Facts
The interest rate on 10-year UK government bonds increased to 5.56% from 5.44%.
Similar increases occurred for 20- and 30-year government bonds, known as gilts.
The Chancellor, Rachel Reeves, has reportedly dropped plans to raise income tax in the upcoming Budget.
Investors had expected an income tax hike and were surprised by this change.
Concerns have been raised about how the government will fill its financial gaps without the tax increase.
The pound has fallen in response to market concerns about fiscal management.
Reeves has set goals not to borrow for day-to-day spending and to reduce government debt as a share of national income.
Think tanks estimate that the government needs to find £22-25bn to meet its financial commitments.
Disney and Google are in a dispute that has left YouTube TV users without access to Disney channels like ABC and ESPN since October 30. Disney CEO Bob Iger claims they offered Google a deal comparable to other agreements, which Google rejected. Meanwhile, YouTube TV has partnered with NBCUniversal to launch NBC Sports Network exclusively on its platform.
Key Facts
Disney and Google are in a disagreement over the rights to show Disney channels on YouTube TV.
YouTube TV subscribers have been unable to watch ABC, ESPN, and other Disney networks since October 30.
Disney CEO Bob Iger stated their proposed deal to Google is similar to agreements made with other companies.
Google allegedly turned down Disney's deal, leading to the ongoing dispute.
NBCUniversal has launched NBC Sports Network exclusively on YouTube TV.
NBC Sports Network aims to offer a wide range of sports programming to YouTube TV subscribers.
The NBC Sports Network deal is part of NBCUniversal’s strategy to expand both linear and streaming options.
The standoff between Disney and Google has lasted for more than two weeks.
Rachel Reeves is expected to cancel plans to raise income tax rates in the upcoming Budget. This decision was reportedly made to avoid upsetting voters and members of the Labour Party.
Key Facts
Rachel Reeves is the chancellor responsible for the Budget.
It was reported that Reeves planned to increase income tax rates, but these plans may be dropped.
This decision comes after concerns about breaking a previous election promise.
Culture Secretary Lisa Nandy stated that no final decisions have been made regarding the Budget.
The Treasury has not commented on these reports.
Reeves hinted that tough financial decisions are needed and that everyone has to contribute financially.
The financial news was originally reported by the Financial Times.
In 2025, foreclosure activity in the U.S. has increased, with 36,766 properties facing foreclosure filings in October. This marks a rise both month-over-month and year-over-year, although levels are not as high as during past housing crises. Experts suggest the situation reflects changes in market conditions but do not see it as an alarming upward trend yet.
Key Facts
In October 2025, 36,766 U.S. properties saw foreclosure filings, a 3% rise from September and a 19% increase from the previous year.
This represents the eighth straight month of annual increases in foreclosure filings.
Foreclosure starts rose by 6% from the previous month and were up 20% compared to 2024.
States with the highest foreclosure rates include Florida, South Carolina, Delaware, and Nevada.
Despite increases, current foreclosure levels are lower than those during the housing crisis.
Experts note foreclosures remain low partly due to homeowners having low-interest mortgage rates.
The market's normalization reflects higher housing and borrowing costs, but experts do not anticipate a severe crisis like the past.
Economic factors such as household debt and rising car repossessions indicate broader financial stress.
AT&T agreed to a $177 million settlement over two lawsuits concerning data breaches in 2024. Customers affected by these breaches may be eligible to claim up to $7,500, depending on the specifics of their data exposure. Claims must be submitted by December 18, 2025, and the settlement awaits final court approval.
Key Facts
AT&T settled for $177 million in response to two data breach lawsuits.
The breaches occurred in March and July 2024, affecting millions of customers.
Personal details like Social Security numbers and call records were exposed.
Customers affected by the March breach can claim up to $5,000.
Those affected by the July breach can claim up to $2,500.
Claims must be filed online or by mail by December 18, 2025.
The settlement needs final approval in court on January 15, 2026.
The claims website is www.telecomdatasettlement.com.
President Donald Trump announced trade agreements with four Latin American countries to reduce import taxes on coffee and bananas. The agreements aim to address concerns about affordability in the U.S. while maintaining certain tariffs on other goods. The deals are part of a broader effort to ease trade tensions and are expected to be signed soon.
Key Facts
Trade deals involve four Latin American countries: Argentina, Guatemala, El Salvador, and Ecuador.
The U.S. will lower tariffs on coffee and bananas from these countries.
A 10% tariff will remain on goods from Guatemala, Argentina, and El Salvador, and a 15% tariff on Ecuador.
Coffee, cocoa, and bananas are among the goods expected to be exempt from tariffs.
The U.S.-Argentina deal also focuses on beef producers accessing foreign markets.
Guatemala and Ecuador are leading banana exporters to the U.S.
Brazil, the top coffee exporter to the U.S., is not part of this deal.
The deals are anticipated to be signed within two weeks.
Verizon plans to lay off about 15,000 employees, which is around 15% of its U.S. workforce, as part of a restructuring plan led by its new CEO, Dan Schulman. The job cuts will mainly affect non-union management roles and come as Verizon faces increased competition and slowing subscriber growth. The company is also planning to franchise approximately 180 corporate-owned retail stores.
Key Facts
Verizon plans to cut 15,000 jobs, representing 15% of its U.S. workforce.
The layoffs are part of a restructuring effort under new CEO Dan Schulman.
Non-union management positions will be most affected, with more than 20% of those roles impacted.
Verizon will change about 180 corporate-owned stores into franchises.
The company faces increased competition from AT&T and T-Mobile as subscriber growth slows.
Verizon spent significant amounts on acquisitions and spectrum purchases in recent years.
The company had around 100,000 U.S. employees at the end of 2024 and laid off nearly 20,000 over three years.
Verizon stock rose 1.3% in midday trading as news of the layoffs emerged.
The article discusses how the ongoing government shutdown in the United States is impacting the health care industry. It explains that if Congress does not extend Affordable Care Act (ACA) premium tax credits, many Americans could face increased health insurance premiums, and more people could become uninsured. This situation poses financial and operational challenges for hospitals and health systems.
Key Facts
The U.S. government has been in a shutdown for 43 days, impacting various sectors, including health care.
A proposed deal could end the shutdown, allowing health care regulatory activities to resume.
About 24 million Americans obtain health coverage through ACA marketplaces, with many relying on subsidies.
If ACA premium tax credits expire, premiums might increase significantly, potentially doubling for some.
The Congressional Budget Office estimates that 4.2 million people might lose coverage if the credits are not extended.
Hospitals may face financial strain due to an increase in uninsured or underinsured patients.
Safety-net and rural hospitals are particularly at risk from the expiration of the subsidies.
Congress is likely to discuss extending the subsidies in December, but no decision is guaranteed.
The Trump administration announced new trade deals with Argentina, Guatemala, El Salvador, and Ecuador. These deals are part of the U.S. effort to strengthen relationships with countries in Latin America. Details about the specific terms of the deals have not yet been fully disclosed.
Key Facts
The U.S. government has announced four new trade agreements.
The countries involved are Argentina, Guatemala, El Salvador, and Ecuador.
These deals aim to improve U.S. ties with Latin American nations.
Argentinian President Javier Milei supports President Trump and has attended U.S. political events.
El Salvador's President Nayib Bukele has cooperated with the U.S. on deportation matters.
The exact details of the trade deals are not fully available yet.
Guests at Sonder properties were asked to leave in the middle of their stay because the company declared bankruptcy. Marriott ended its leasing deal with Sonder due to financial issues. Sonder, known for premium apartment rentals, is seeking bankruptcy protection in all countries where it operates.
Key Facts
Sonder, a rental company for premium apartments, has gone bankrupt.
Guests staying at Sonder properties were asked to leave due to the bankruptcy.
Marriott ended its leasing agreement with Sonder because of financial problems.
Guests who booked via Marriott's platforms are getting help, while others are advised to seek refunds from their credit card companies.
Sonder blamed technology and financial issues for its bankruptcy.
There have been complaints about access issues with door codes and lack of communication from Sonder.
Sonder is filing for insolvency in all countries where it operates.
Marriott clarified it does not charge cards for Sonder bookings but is helping with refunds.
