A group of 13 state attorneys general filed a lawsuit against OneMain Financial, claiming the company added hidden costs to loans. The lawsuit alleges that OneMain made borrowers purchase extra products without clear information, leading to higher loan costs.
Key Facts
13 state attorneys general sued OneMain Financial on Monday.
The lawsuit claims OneMain added unwanted products to loans, increasing costs.
OneMain allegedly misled borrowers by making them think added products were necessary.
The affected products include credit insurance and home and auto memberships.
OneMain is accused of violating state consumer protection laws.
OneMain faced similar issues and settled with the Consumer Financial Protection Bureau in 2023.
OneMain agreed to repay $10 million to consumers and pay $10 million in fines in 2023.
OneMain primarily offers loans to people with subprime credit scores.
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Bank of America has agreed to settle a lawsuit related to accusations of facilitating Jeffrey Epstein's illegal activities. The lawsuit was brought on behalf of Epstein's victims, and the court must now approve the settlement terms. This is the third major bank settlement involving Epstein.
Key Facts
Bank of America reached a settlement with victims of Jeffrey Epstein.
The lawsuit accused the bank of helping Epstein with his illegal activities.
Settlement terms have not been disclosed and need court approval.
It follows similar settlements by JP Morgan Chase ($290 million) and Deutsche Bank ($75 million).
The lawsuit was filed by a woman who claimed abuse by Epstein over several years.
Allegations included the bank choosing profit over protecting victims.
The lawsuit mentioned over $150 million paid to Epstein from Leon Black's account at Bank of America.
Bank of America previously asked the court to dismiss the lawsuit.
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National Car Parks (NCP), a major car park operator in the UK, has entered administration, putting almost 700 jobs at risk. The company faced financial difficulties due to changes in commuting and driving patterns after COVID-19, along with accumulating debts. PwC, the administrators, are exploring options to sell the business while keeping operations running.
Key Facts
National Car Parks (NCP) has gone into administration, risking 682 jobs.
Demand for parking did not return to previous levels after COVID-19.
NCP consistently lost money and couldn't pay its creditors.
The company holds long-term leases that are hard to cancel.
PwC is managing the administration and seeking a buyer for NCP.
NCP operates 340 car parks across the UK, including airports and hospitals.
Its debts exceeded its assets by £305 million as of September last year.
PwC aims to continue service and review the business during this process.
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The UK's Office for National Statistics (ONS) updated its list of items used to track inflation, adding things like alcohol-free beer and pet grooming to reflect consumer trends. These items help calculate inflation, which is the rate at which prices for goods and services rise over time. Changes to the list show shifts in consumer spending habits, such as an interest in healthier lifestyles and increased pet care.
Key Facts
The ONS uses a virtual basket of 760 items to measure inflation in the UK.
The basket is updated annually to reflect what people typically spend their money on.
Alcohol-free beer and houmous are new additions to the basket to indicate the trend towards healthy living.
Motorhomes, dashboard cameras, and pet grooming are also newly added.
27 items were added to and 19 removed from the basket this year.
The new method of including supermarket scanner data aims to improve the accuracy of inflation measurement.
Inflation affects things like benefits, pensions, and interest rates.
The UK's target inflation rate is 2%, but the latest rate is around 3%.
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A fake United Airlines advertisement suggesting changes to its MileagePlus loyalty program caused confusion online. The ad appeared to prioritize customers with United's credit card. United Airlines confirmed the ad was not real and had not been posted by them.
Key Facts
A United Airlines ad shown on social media seemed strange to some viewers.
It mentioned changes to the MileagePlus program to favor credit card holders.
The social media post sharing this ad received over 660 upvotes on Reddit.
Some Reddit users thought the ad might be AI-generated.
United Airlines confirmed the ad is fake and not created by them.
United did announce changes prioritizing reward miles for credit card holders.
The confusing social media post might have copied from other online headlines.
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The UK Prime Minister, Sir Keir Starmer, announced a £53 million support package to help low-income households deal with the rising costs of heating oil, which have increased due to global conflicts affecting crude oil prices. This aid will be directed specifically towards vulnerable and rural communities, and the government is exploring additional protections for heating oil customers.
Key Facts
The UK government will allocate £53 million to assist with heating oil costs for vulnerable households.
Prices for heating oil have increased significantly due to the US-Israeli conflict with Iran, raising crude oil prices above $100 per barrel.
Heating oil prices are not regulated like gas and electricity, affecting households primarily in Northern Ireland, Scotland, and rural England and Wales.
The funds will be distributed by local governments through specific support funds, with separate allocations for England, Scotland, Wales, and Northern Ireland.
Northern Ireland will receive £17 million, England £27 million, Scotland £4.6 million, and Wales £3.8 million.
The UK government is considering new protections for heating oil users, as current protections by the regulator Ofgem do not apply.
The global oil market is unstable due to geopolitical tensions, which affects energy prices.
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Rents are dropping in areas of the U.S. with a lot of new building, mainly in the South and Mountain West. However, rents remain high in the Midwest, Northeast, and parts of the West Coast due to tight rental markets and limited building space.
Key Facts
Rents in the U.S. have dropped 1.5% from a year ago but are still about 20% higher than before the pandemic.
Many renters spend more than 30% of their income on rent and utilities, making them "cost-burdened."
Cities like Austin saw a nearly 6% rent decrease, while San Antonio, New Orleans, and Denver experienced around a 5% drop.
Phoenix and Tampa saw a 4% decrease, and Salt Lake City had a 2% drop in rents.
In contrast, rents rose in Virginia Beach, the Bay Area, Chicago, and St. Louis by up to 5%.
The Midwest, Northeast, and West Coast face tighter rental markets due to less available land for building.
High building costs and an excess of supply in some areas discourage new projects.
More people are renting because buying homes is too expensive, which helps keep rents high nationwide.
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Travelodge has changed its key card policy after a security breach led to a guest being attacked in her room. The hotel chain's CEO apologized and stated that now a room key can only be issued with the explicit permission of the person staying in the room. This change comes after the attacker was jailed for the crime that occurred in late 2022.
Key Facts
A Travelodge guest was attacked after a man lied to get a key to her room.
The attack happened at a Travelodge in Maidenhead, Berkshire, in December 2022.
The attacker was sentenced to seven-and-a-half years in jail.
Travelodge's CEO issued an apology and stated the hotel's policies have changed.
Now, additional or replacement room keys will only be given with permission from the person staying in the room.
The company has trained its 12,000 customer-facing staff on the new policy.
Travelodge conducted an internal review and is also commissioning an independent review of room security measures.
The victim initially received a £30 refund, which she found inadequate.
Travelodge's CEO wants to meet the victim and learn from the incident.
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The UK government has been spending roughly £1.3 million daily to keep British Steel's Scunthorpe plant running, totaling £377 million over nine months. The National Audit Office (NAO) reports this spending aimed to prevent the closure of the last two blast furnaces in the UK, avoiding job losses and broader economic impacts. The funds have been classified as a loan, but there is no clear repayment plan in place.
Key Facts
The UK government spent £377 million over nine months on British Steel's Scunthorpe site.
Daily operating costs for the site are about £1.3 million.
The funding was provided to prevent the closure of the UK's last two blast furnaces, aimed at saving jobs.
The NAO is the UK's independent public spending watchdog.
The funds are labeled as a loan, but no repayment schedule exists.
Spending may reach £615 million by June and could exceed £1.5 billion by 2028.
Before government intervention, British Steel's previous owner, Jingye, considered closing due to financial losses.
The government passed emergency legislation enabling it to keep the blast furnaces operational.
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This article discusses a promotion offered by the trading platform Kalshi, where users can receive a $10 bonus for making $10 in trades related to the Oscars. Using the Kalshi promo code "NEWSWEEK," participants can trade on predictions for various Oscar categories, such as best actor or director, and receive bonus credits for these predictions.
Key Facts
Kalshi is offering a $10 bonus for users who complete $10 in trades on Oscar predictions.
The promotion is accessed using the promo code "NEWSWEEK."
Kalshi allows users to buy and sell positions at any time, unlike traditional sportsbooks.
Users can predict outcomes in categories like best actor, best actress, and best director.
Some popular prediction choices are Michael B. Jordan for best actor and Jessie Buckley for best actress.
To participate, users need to sign up, provide personal information, and make a $10 trade.
Kalshi has markets for a variety of major events beyond the Oscars, such as the Super Bowl.
Newsweek may earn an affiliate commission if users sign up through links in the article.
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The ongoing conflict involving Iran is putting the U.S. economy to the test. Despite challenges like rising oil prices and global market strains, the American economy has shown strength and ability to adapt. President Trump's policies and recent economic developments continue to influence this resilience.
Key Facts
Iran threatens to attack ships passing through the Strait of Hormuz, causing oil prices to rise by 43%.
Middle East export restrictions on commodities may lead to increased food prices.
U.S. unemployment was at 4.4% last month, considered manageable.
GDP growth is projected to rise at a 2.7% rate in the first quarter of 2025.
The U.S. remains a net oil exporter, unlike during past Middle East conflicts.
President Trump adjusted some tariffs, easing potential negative economic impacts.
The Federal Reserve maintains some independence despite attempts to influence its decisions.
Global investors show strong interest in U.S. AI-related companies, boosting the economy.
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The Bank of England announced plans to feature British wildlife, instead of historical figures like Sir Winston Churchill, on the next series of banknotes. This move is part of an effort to prevent counterfeiting and reflects preferences from public consultations. Some politicians criticize the decision as erasing history, while others, including Churchill’s granddaughter, are more accepting.
Key Facts
The Bank of England plans to replace historical figures on banknotes with images of British wildlife.
This change is intended primarily to combat counterfeiting.
Public consultations showed a preference for nature-themed banknote designs.
Political figures have criticized the decision, citing concerns about erasing historical figures from currency.
A shortlist of animals will be chosen for future notes, but no specific animals have been finalized yet.
Churchill's granddaughter stated she did not expect her grandfather’s image to remain on currency forever.
The change follows a public consultation with over 44,000 responses, where 60% supported nature as a theme.
The Bank of England plans to continue public input on banknote designs.
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Betting apps allow people to wager on possible future events, including political and military outcomes. This has stirred controversy, particularly with bets about wars and political figures, leading to calls for stricter regulation. Critics argue these platforms may lead to national security risks and illegal activities.
Key Facts
Prediction markets facilitated over $44 billion in trades last year.
These platforms let users bet on diverse events, from sports to political outcomes.
Military and political bets, like those involving Iran, have raised concerns.
US rules ban trading on contracts related to war and illegal activities.
Firms like Polymarket have faced criticism for hosting controversial markets.
Kalshi canceled a market related to Iran's Supreme Leader due to US regulations.
The Commodities Futures Trading Commission (CFTC) claims oversight of these markets.
There is a debate on how to regulate prediction markets, similar to traditional gambling.
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Chancellor Rachel Reeves plans to introduce aid for households facing rising heating oil costs due to global events affecting oil prices. The support comes as oil prices have increased, impacting households that rely on heating oil, particularly in rural areas. The government is exploring options to help vulnerable families, with announcements expected soon.
Key Facts
Rachel Reeves, the Chancellor, is preparing a support package for households affected by high heating oil costs.
The rise in oil prices is linked to the US-Israel conflict in Iran.
Around 1.7 million households in England and Wales use heating oil, which is not price-capped like gas and electricity.
Heating oil costs have doubled since the start of the conflict in the Middle East.
The Chancellor and government are looking into targeted options for helping with energy bills.
A drop in household energy bills by 7% is expected in April due to government changes.
Energy Secretary Ed Miliband and Reeves are monitoring the energy market and met with officials to discuss potential issues.
Fuel duty might increase in September, but it is currently under review.
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The article discusses challenges faced by small petrol stations due to rising fuel prices linked to recent events in the Middle East. Smaller stations, such as the one owned by Goran Raven, pay market prices daily which leads to higher costs, unlike larger retailers who can negotiate better rates. This situation has resulted in Raven's staff facing abuse from frustrated customers.
Key Facts
The price of petrol has reached an 18-month high, and diesel has seen significant increases.
Smaller petrol stations pay daily market prices for fuel, leading to higher costs.
Larger retailers buy fuel in advance and in bulk, securing better rates.
Small businesses struggle to absorb sudden fuel price increases.
Staff at small petrol stations face customer abuse due to rising prices.
Fuel theft has increased, according to station owner Goran Raven.
The Petrol Retailers Association criticizes the government's language, suggesting it may worsen customer behavior towards station staff.
A new app shows fuel prices from over 90% of retailers to promote competition.
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A U.S. judge blocked the Department of Justice from investigating the Federal Reserve, stating there was no evidence to support the probe. The ruling was seen as a win for Fed chairman Jerome Powell, who argued the investigation was an attempt to pressure the Fed to lower interest rates. U.S. Attorney Jeanine Pirro plans to appeal the decision.
Key Facts
A judge stopped a Department of Justice investigation into the Federal Reserve.
The judge said there was no evidence to support the investigation.
Federal Reserve chairman Jerome Powell claimed the probe was aimed at pressuring the Fed to cut interest rates.
U.S. Attorney Jeanine Pirro, who initiated the probe, said she will appeal the ruling.
Pirro accused the judge of undermining the legal process.
This case has raised concerns about political pressure on the Federal Reserve.
The Federal Reserve has not commented on the judge's decision.
Republican senators are skeptical of the investigation's need and some have expressed intentions to block new Fed chair appointments until the issue is resolved.
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A federal judge stopped subpoenas sent to Federal Reserve Chair Jerome Powell, saying there was no proof he did anything wrong. The judge criticized the Trump administration for possibly using these investigations to pressure Powell into lowering interest rates. The Department of Justice plans to appeal the decision.
Key Facts
A federal judge canceled subpoenas aimed at Federal Reserve Chair Jerome Powell.
The subpoenas were part of a criminal investigation by the Department of Justice.
The judge accused the Trump administration of trying to pressure Powell into lower interest rates.
There was no evidence presented that Powell committed a crime, according to the judge.
The Department of Justice intends to appeal the judge's decision.
Sen. Thom Tillis stated he won't support Trump's nominee for Fed Chair unless the investigation is dropped.
Powell's investigation is linked to interest rate policies and Fed independence.
Powell's term as Fed Chair ends in May, and any new chair must be confirmed by the Senate Banking Committee.
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Serena Williams, now an entrepreneur-in-residence at Reckitt Catalyst, spoke at SXSW about the challenges early-stage entrepreneurs face in selling themselves to investors. She emphasized the importance of storytelling for entrepreneurs, particularly those from underrepresented groups, to secure investment.
Key Facts
Serena Williams participated in a talk at SXSW, highlighting challenges for new entrepreneurs.
She noted that effective storytelling is crucial for founders to attract investors.
Williams explained that many entrepreneurs, especially from diverse backgrounds, have great ideas but struggle to find investment due to poor storytelling skills.
Her mentor advised her to improve her storytelling, which helped her in business.
Reckitt invests in entrepreneurs focusing on health and hygiene for underserved communities.
Data shows about 1 in 3 Americans lack adequate access to essential health services.
Williams stressed that founders should ensure their stories are genuine and connect with the problem they aim to solve.
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The U.S. Treasury Department has eased some sanctions on Venezuela to allow American businesses and farmers to buy Venezuelan oil and fertilizer. This move aims to counteract rising costs caused by Iranian disruptions in the Persian Gulf.
Key Facts
The U.S. Treasury Department eased sanctions on Venezuelan oil and fertilizer.
Rising prices are due to disruptions in the Persian Gulf linked to the Iran war.
The goal is to increase U.S. oil and fertilizer supplies and reduce costs.
The Office of Foreign Assets Control authorized purchases and imports from Venezuela.
American companies can provide goods and services to Venezuela's energy sectors.
The plan includes supporting the modernization of Venezuela's electric grid.
This move is part of efforts to reconnect the U.S. and Venezuelan economies.
The U.S. has also made a large gold deal with Venezuela recently.
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Canada lost more than 100,000 jobs in the first two months of 2026, with the unemployment rate rising to 6.7%. The job losses are linked to U.S. tariffs affecting Canadian sectors, such as trade and retail, increasing pressure on Prime Minister Mark Carney's government.
Key Facts
Canada lost over 100,000 jobs since January 2026.
The unemployment rate in Canada rose to 6.7%.
The wholesale and retail trade sectors were most affected.
U.S. tariffs on Canadian industries contributed to job losses.
Prime Minister Mark Carney noted these tariffs are causing big changes in Canada's economy.
The U.S. is Canada's biggest export market, buying about 67% of Canadian goods recently.
The future of the North American trade agreement, USMCA, is uncertain, affecting economic stability.
Leader of Canada's Conservative party criticized government handling of the economic challenges.
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