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Business News

Business news, market updates, and economic developments

Qantas agrees to pay $74m over Covid-19 travel voucher refunds

Qantas agrees to pay $74m over Covid-19 travel voucher refunds

Summary

Qantas Airways has agreed to pay $74 million to settle a class action lawsuit regarding refunds for cancelled flights during the Covid-19 pandemic. The airline gave travel credits instead of cash refunds for the cancellations, which led to the legal action. This settlement requires court approval.

Key Facts

  • Qantas agreed to pay A$105 million ($74 million) over refund claims for cancelled flights during 2020-2022.
  • Passengers received travel credits instead of cash refunds, sparking a class action lawsuit.
  • The settlement amount is nearly double what Qantas expected to pay, according to earlier results.
  • Qantas has not admitted wrongdoing but agreed to settle the case.
  • The settlement is still awaiting court approval before it becomes final.
  • Echo Law claims Qantas violated Australian law by not promptly refunding cash.
  • The airline removed expiry dates on travel credits in 2023, allowing immediate cash refunds.
  • A similar lawsuit is ongoing against Jetstar, another airline, regarding refund policies.
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Netflix announces KPop Demon Hunters' sequel

Netflix announces KPop Demon Hunters' sequel

Summary

Netflix announced a sequel to its hit movie "KPop Demon Hunters," which is its most-watched film ever. The sequel will be the first project under a new multi-year deal with directors Maggie Kang and Chris Appelhans. The original movie, featuring a K-pop girl group who are also demon hunters, is nominated for two Oscars and has already won a Grammy.

Key Facts

  • Netflix's "KPop Demon Hunters" is getting a sequel.
  • The movie is Netflix's most-watched film of all time.
  • Directors Maggie Kang and Chris Appelhans have a new multi-year deal with Netflix.
  • The original film is nominated for two Oscars, including best animated feature.
  • A song from the movie, "Golden," won a Grammy for best song written for visual media.
  • "KPop Demon Hunters" is about a K-pop girl group with secret lives as demon hunters.
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Chocolate Recall Map Shows States with New Warning

Chocolate Recall Map Shows States with New Warning

Summary

Lidl US is recalling its Favorina brand Chocolate Ladybugs due to a hazelnut allergen not listed on the packaging. The recall affects products sold in several states and customers are advised to return the chocolate for a refund. There have been no reported illnesses related to this recall.

Key Facts

  • Lidl US is recalling Favorina brand Chocolate Ladybugs because of undeclared hazelnuts.
  • The recall applies to 3.52-ounce boxes with UPC number 20304492.
  • The chocolates were distributed to Lidl stores in Georgia, Maryland, New Jersey, Delaware, Washington D.C., New York, North Carolina, Pennsylvania, South Carolina, and Virginia.
  • Distribution occurred from January 28, 2026, to March 11, 2026.
  • Customers who have bought the recalled chocolate should not eat it and can return it for a full refund.
  • As of the announcement, no illnesses have been reported due to this recall.
  • Customers can get more information by contacting the Lidl US Customer Care Hotline.
  • The FDA oversees voluntary recalls and provides information to the public about such recalls.
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Shoppers Alarmed by What’s Happening at Malls: ‘Living in Hell’

Shoppers Alarmed by What’s Happening at Malls: ‘Living in Hell’

Summary

A debate has emerged about paid parking spaces at some malls in the U.S. The change aims to improve parking availability but has upset some shoppers, especially as malls face declining foot traffic due to online shopping. Some people believe these fees might drive customers away, while others see it as a way to manage limited parking space.

Key Facts

  • Some U.S. malls have introduced paid parking, offering the first hour free with charges thereafter.
  • The Fashion Outlets of Chicago in Rosemont has a new parking fee system to prevent misuse and improve accessibility.
  • A spokesperson said the change aims to keep parking available and ensure positive customer experiences.
  • Traditional malls are struggling with fewer visitors and declining popularity due to online shopping growth.
  • No new malls have been built in the U.S. since 2006, and 15% may close in the next decade.
  • Online shopping has doubled in the past seven years, affecting mall foot traffic.
  • Some agree with the paid parking, viewing it as a way to keep desirable parking available.
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PwC says young recruits are 'hungry' for careers and plans to hire more graduates

PwC says young recruits are 'hungry' for careers and plans to hire more graduates

Summary

PwC, a major consultancy firm, plans to hire more graduates next year, stating that young recruits show strong enthusiasm for careers. The firm's UK boss, Marco Amitrano, noted that last year's reduction in hiring was due to economic issues, not artificial intelligence (AI), and emphasized the eagerness of new recruits to work and learn. Amitrano also discussed economic challenges and business-government relations in a podcast interview.

Key Facts

  • PwC plans to increase the number of graduate hires next year.
  • The firm reduced graduate roles last year due to economic concerns, not AI.
  • Marco Amitrano emphasized that young recruits are eager to work and progress.
  • Young people have faced increased unemployment, raising concerns about student debt.
  • Amitrano advocates for university education for its valuable life skills.
  • The US-Israeli war with Iran impacted global business confidence.
  • UK government's recent employment policy changes have deterred business growth.
  • Amitrano suggests relaxing fiscal rules to support investment and growth.
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Social Security Announces Big Change Impacting Millions

Social Security Announces Big Change Impacting Millions

Summary

The Social Security Administration (SSA) has announced it will now handle all medical reviews for disability benefits directly, instead of working with state agencies. This change aims to improve decision-making, accountability, and reduce wait times for people applying for or receiving disability benefits.

Key Facts

  • The SSA is taking over medical Continuing Disability Reviews (CDRs) from state agencies.
  • CDRs are periodic checks to see if people still qualify for disability benefits.
  • The change is meant to make decisions more consistent and accountable.
  • The SSA says this will help reduce the backlog of initial disability claims.
  • As of February 2024, the backlog of initial claims dropped from 1.26 million in June 2024 to 831,000.
  • State offices can now focus more on processing new claims and reconsidering old ones.
  • Centralizing reviews aims to balance workloads and improve service efficiency.
  • The SSA hopes this will reduce wait times for people applying for disability benefits.
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Ozempic Maker Sued After Woman Died From Stomach Paralysis

Ozempic Maker Sued After Woman Died From Stomach Paralysis

Summary

The pharmaceutical company Novo Nordisk is facing a lawsuit after a woman named Marsha Ettinghoff, who was using their drug Ozempic, died from stomach paralysis. The lawsuit claims that the company did not properly warn users about the drug's risks, including severe gastrointestinal issues. Novo Nordisk denies these allegations and intends to defend against the claims.

Key Facts

  • Marsha Ettinghoff, 76, died in August 2024 after using Ozempic, allegedly from stomach paralysis.
  • Ozempic is approved by the FDA for type 2 diabetes and other health issues, but not for weight loss.
  • The lawsuit claims Novo Nordisk failed to update warnings about serious gastrointestinal risks.
  • Over 2,000 lawsuits related to this issue have been combined in Pennsylvania for pretrial proceedings.
  • Novo Nordisk insists that Ozempic is safe when used according to its guidelines and denies the claims.
  • The lawsuit calls for damages and a jury trial to address the alleged shortcomings in patient safety warnings.
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Biden's SAVE plan for student loans is officially dead. Here's what experts suggest now

Biden's SAVE plan for student loans is officially dead. Here's what experts suggest now

Summary

A court has officially ended the SAVE plan, an income-driven student loan repayment option created during President Joe Biden's time that offered lower monthly payments. This decision comes after legal challenges and a settlement agreement under President Donald Trump's administration.

Key Facts

  • The SAVE plan was an income-driven repayment option for federal student loans.
  • It was introduced during President Joe Biden's administration.
  • Republican attorneys general challenged the plan's legality.
  • The Trump administration agreed to settle the case without further contest.
  • A district court judge recently decided to officially end (or vacate) the plan.
  • The decision means the SAVE plan is no longer available for borrowers.
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Jessi Draper Net Worth as Jordan Ngatikaura Divorce Drama Unfolds

Jessi Draper Net Worth as Jordan Ngatikaura Divorce Drama Unfolds

Summary

The article discusses Jessi Draper Ngatikaura's potential divorce from her husband, Jordan Ngatikaura, and the impact on her business finances. It highlights concerns over their prenuptial agreement, which might be challenged, potentially affecting Draper's wealth and business interests. Draper is featured on a reality show, and her business, JZ Styles, has grown significantly.

Key Facts

  • Jessi Draper Ngatikaura is a cast member of the reality show "The Secret Lives of Mormon Wives."
  • She and her husband, Jordan Ngatikaura, are considering a divorce.
  • The couple has a prenuptial agreement that was signed without witnesses, making it vulnerable to challenges.
  • Utah law does not require witnesses for a prenup, but lack of them can lead to disputes.
  • Draper is concerned that without a valid prenup, her husband could claim a large part of her wealth.
  • Draper owns JZ Styles, a successful family-run business.
  • Her net worth is estimated to be over $2 million, though exact figures are not public.
  • Draper launched her business in 2016, expanding it significantly since then.
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Pottery firm Denby to appoint administrators

Pottery firm Denby to appoint administrators

Summary

Pottery company Denby, which started in 1809 and is based in Derbyshire, plans to appoint administrators because it has faced increasing costs in recent years. The company, which has struggled to find an investment partner, will continue to operate while it searches for financial solutions. Denby's financial challenges include higher employment and energy costs and difficulty accessing funds due to tight financial markets.

Key Facts

  • Denby is a pottery company founded in 1809 in Derbyshire.
  • The company plans to appoint administrators due to financial difficulties.
  • Denby has faced rising costs, especially in employment and energy.
  • It has been challenging for Denby to find a new investment partner.
  • Denby was saved from collapse in 2009 by investment firm Hilco Capital.
  • Despite financial issues, Denby and its subsidiaries will continue to operate.
  • Financial markets are tighter, making it hard for Denby to get funding.
  • Local and union leaders are involved in efforts to find solutions for the company.
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Why animals will replace historical figures on bank notes

Why animals will replace historical figures on bank notes

Summary

The Bank of England is planning to change the designs on banknotes, replacing pictures of historical figures with images of animals. This change aims to highlight the importance of wildlife conservation.

Key Facts

  • The Bank of England will swap historical figures for animal images on banknotes.
  • The new designs aim to raise awareness about wildlife conservation.
  • Banknotes are a form of cash used for payments.
  • The change is part of an effort to focus on environmental issues.
  • There hasn't been a specific timeline mentioned for when this change will happen.
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Donald Trump Hit With Avalanche of Tariff Lawsuits

Donald Trump Hit With Avalanche of Tariff Lawsuits

Summary

President Donald Trump is facing many lawsuits over his tariff policies. Companies and states are challenging past and new tariffs, claiming they are illegal and cause economic problems. The legal battles involve both previously struck-down tariffs and new ones imposed by President Trump.

Key Facts

  • President Trump faces lawsuits from Costco, Wanxiang Automotive, PMI Worldwide, and nearly two dozen states over tariff policies.
  • The Supreme Court struck down initial tariffs in February 2026, saying Trump exceeded his authority.
  • More than 2,000 companies are suing to get back the $133 billion paid in these tariffs.
  • After the Supreme Court ruling, Trump imposed new tariffs under a different law, which are also being challenged.
  • Attorneys general from 24 states are part of the legal challenge against the new tariffs.
  • Companies like Costco have filed separate lawsuits to potentially refund tariffs to customers.
  • Wanxiang Automotive and PMI Worldwide are also suing, arguing the tariffs harm their businesses.
  • Legal actions could lead to the federal government refunding up to $175 billion due to the struck-down tariffs.
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Meghan Markle's Australia Visit Is Key Test of As Ever's Future

Meghan Markle's Australia Visit Is Key Test of As Ever's Future

Summary

Meghan Markle and Prince Harry will visit Australia next month, where Meghan will promote her business, As Ever. This trip will test if her online store can attract international buyers after ending a partnership with Netflix.

Key Facts

  • Meghan Markle's business, As Ever, sells items like jams and wines online.
  • The brand previously partnered with Netflix but has since parted ways.
  • Meghan will attend the Her Best Life retreat in Sydney, featuring a live conversation.
  • Tickets for the event cost up to A$3,199 (around $2,285).
  • 9% of As Ever's online traffic came from Australia in February.
  • This visit could help Meghan expand her business into new markets.
  • Meghan's brand was initially launched with support from a Netflix series, With Love, Meghan.
  • Prince Harry and Meghan still have a deal with Netflix for show production.
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What it will mean for the economy if the Strait of Hormuz stays closed

What it will mean for the economy if the Strait of Hormuz stays closed

Summary

The Strait of Hormuz is currently blocked, slowing down the shipment of oil and other goods, which is causing economic concerns. If the situation continues, it might lead to higher oil prices and slow down economic growth, particularly in countries that rely heavily on oil imports. Efforts to address the blockade have not succeeded yet, and economists are warning of potential recessions in some regions.

Key Facts

  • The Strait of Hormuz is a crucial waterway for shipping oil and other goods.
  • Iran threatens to attack commercial ships trying to pass through the strait.
  • The U.S. and other countries are exploring options to handle the blockade but have not solved the issue.
  • Oil prices have been volatile, with Brent crude oil prices rising significantly.
  • The United States is somewhat protected due to its own oil production but still feels the global market impact.
  • Economists predict if oil prices continue to rise, it could lead to higher inflation and slower economic growth.
  • Some forecasts predict potential recessions in Europe, the U.K., Japan, and a slowdown in the U.S. economy if oil prices reach extremely high levels.
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What on earth is going on with the oil price?

What on earth is going on with the oil price?

Summary

Oil prices have seen large ups and downs recently, mainly due to conflicts and disruptions around the Strait of Hormuz. Prices climbed due to attacks on infrastructure but then dropped significantly after comments suggesting a possible easing of tensions. Emergency stockpile releases have not stabilized prices, with further attacks in the Gulf pushing them higher again.

Key Facts

  • Oil prices rose over a third higher due to conflicts near the Strait of Hormuz.
  • The Strait of Hormuz is crucial as it carries 20% of the world's oil supplies.
  • Brent crude is a key indicator for global oil prices.
  • Prices spiked to nearly $120 a barrel, driven by fears of disrupted supply.
  • Concerns eased after a comment by President Trump, causing sudden price drops.
  • An incorrect U.S. social media post about an oil tanker created brief market confusion.
  • The International Energy Agency announced a large release of emergency oil reserves.
  • Attacks on Gulf cargo vessels increased oil prices back above $100 a barrel.
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Customer sues Costco for tariff refunds

Customer sues Costco for tariff refunds

Summary

A customer has sued Costco, asking the company to share any tariff refunds with shoppers who faced higher prices due to former tariffs. The lawsuit follows a Supreme Court decision that struck down many of President Trump's tariffs, leading to potential refunds for companies. The process to return these funds is still uncertain and involves many businesses, including Costco and FedEx.

Key Facts

  • A lawsuit has been filed against Costco by a customer about tariff refunds.
  • The legal claim suggests that Costco could get back the extra costs twice, once from customers and once from the government.
  • The Supreme Court struck down many tariffs, leading to possible refunds of $166 billion.
  • The refund process is handled by the Court of International Trade but remains uncertain.
  • Importers, who initially paid the tariffs, often passed costs to customers through higher prices.
  • Costco's CEO stated that they plan to return any received refunds to customers with lower prices.
  • Over 330,000 importers might be eligible for these refunds.
  • The Trump administration is creating a system to manage these tariffs, needing 45 days to develop it.
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Why Florida Is Feeling the Brunt of US Gas Price Increases

Why Florida Is Feeling the Brunt of US Gas Price Increases

Summary

Gas prices in Florida have risen significantly due to global oil supply disruptions and local pricing patterns. The conflict in the Middle East has pushed oil prices higher, affecting gas costs across the U.S., with Florida experiencing one of the largest increases. This is influenced by the state's price cycling behavior and its location near international export points.

Key Facts

  • Florida's gas prices went up by more than 80 cents per gallon after the U.S. and Israel's joint military actions in Iran.
  • The national average price of gas rose to $3.598 per gallon, the highest since May 2024.
  • Oil prices increased as the Middle East conflict affected the Strait of Hormuz, a key oil transit route.
  • Florida drivers currently pay an average of $3.718 per gallon, higher than earlier weeks and months.
  • Florida experiences "price cycling," where gas prices rise quickly, drop slowly, and then spike again.
  • Monroe County has the highest gas prices in Florida, reaching $3.967 per gallon.
  • Florida’s location on the Gulf Coast results in higher prices due to competition with international markets.
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McDonald’s Planning Value Menu, Internet Has One Major Concern

McDonald’s Planning Value Menu, Internet Has One Major Concern

Summary

McDonald's is reportedly planning to launch a new value menu with lower-priced items. This has sparked online discussions, with some people worried it could be a sign of an upcoming recession.

Key Facts

  • McDonald's is reportedly working on a new value menu with items priced at $3 or less.
  • The Wall Street Journal reported on the potential new deals, but McDonald's has not officially confirmed them.
  • Social media users are discussing the menu and speculating it might signal a recession.
  • The discussion around McDonald's menu ties into larger concerns about economic uncertainty.
  • JPMorgan estimates the current chance of a recession at 35%, down from 60% in the past year.
  • In response to financial pressures, many Americans have reduced dining out, prompting McDonald's to focus on value offerings.
  • Posts about the potential menu have received millions of views on social media platforms like X.
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Goodwill Thrifter Sees Designer Shoe for $7.99, Then Comes the Real Win

Goodwill Thrifter Sees Designer Shoe for $7.99, Then Comes the Real Win

Summary

A person found four pairs of expensive Jimmy Choo shoes at a thrift store, priced at $7.99 each. This rare find highlights the appeal of thrifting, where people often find high-value items for low prices. Thrifting and buying second-hand items have become more popular in the U.S., with a significant market value.

Key Facts

  • A Reddit user bought four pairs of Jimmy Choo shoes, each priced at $7.99, at a thrift store.
  • Jimmy Choo pumps typically sell for $625 to $3,700.
  • The find was shared on Reddit, where it surprised many users.
  • Thrifting is becoming more popular in the U.S., with more people buying second-hand items.
  • A 2025 report says 93% of Americans shop online for second-hand items.
  • There are over 25,000 resale shops in the U.S.
  • People save about $2,071 per year by buying second-hand instead of new items.
  • The resale market in the U.S. was valued at $56 billion in 2025 and is expected to reach $61 billion in 2026.
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Should drivers turn to EVs as the war spikes gas prices? Here's what to know

Should drivers turn to EVs as the war spikes gas prices? Here's what to know

Summary

This article discusses how the Iran war is causing gas prices to rise, prompting some people to consider electric vehicles (EVs) as an alternative. It highlights one person's experience with owning an EV and suggests that high gas prices could increase interest in buying EVs.

Key Facts

  • Gas prices are rising due to the Iran war.
  • Kevin Ketels owns an electric 2026 Chevrolet Blazer.
  • Ketels is happy not to deal with high gas prices thanks to his EV.
  • He bought the EV because he believed in their future potential.
  • Experts think that high gas prices might make more people interested in EVs.
  • Electricity prices for EVs are less likely to increase as quickly as gas prices.
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