UK households spent less in April, with the biggest year-on-year drop in 18 months, as worries about the conflict in the Middle East raised fears of higher living costs. Spending on non-essential items and travel fell, while essential spending rose, especially on fuel.
Key Facts
Barclays data shows UK card spending fell 0.1% in April compared to a year earlier, the first drop since November 2024.
Non-essential spending dropped 0.3%, and travel spending fell 5.7% in April. Airline spending declined by 8.3%.
Spending on digital content and subscriptions increased 9.2%, possibly due to popular TV shows like *Euphoria* and *The Testaments*.
Essential spending rose 0.3%, with fuel costs up 10.4%, the largest increase since December 2022.
The Bank of England expects energy bills to rise 16% and food prices to increase 7% by the end of the year due to the Iran war's impact.
A Barclays survey found 72% of people believe the Middle East conflict will affect their living costs through 2026.
Confidence in non-essential spending dropped to its lowest since March 2023, at 49%.
Retail sales fell 3% in April, with food sales down 2.5%, partly influenced by the timing of Easter.
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The bridal industry is changing how it fits wedding dresses because new weight loss drugs like Ozempic cause unpredictable body changes. David’s Bridal’s CEO Kelly Cook said these medications lead to more frequent dress alterations and new fitting policies.
Key Facts
GLP-1 drugs, such as Ozempic, are used for weight loss.
These drugs cause people’s body sizes to change more unpredictably.
Bridal shops, including David’s Bridal, are adjusting their dress fitting processes.
Customers need more frequent dress alterations due to body changes.
New policies are being put in place to handle these fitting challenges.
The bridal business is adapting to these shifts to better serve customers.
The changes affect how weddings are planned and dresses are prepared.
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BuzzFeed has been sold to media entrepreneur Byron Allen in a $120 million deal. Allen will become the new CEO while BuzzFeed founder Jonah Peretti stays on as president of BuzzFeed AI. The company plans to cut costs and focus on free streaming video, audio, and user-generated content.
Key Facts
Byron Allen bought a controlling stake in BuzzFeed for $120 million.
Allen will replace Jonah Peretti as CEO; Peretti remains president of BuzzFeed AI.
BuzzFeed owns the news outlet HuffPost.
The company will make significant cost cuts, which might include layoffs.
Allen plans to expand BuzzFeed into free streaming video and other content types.
BuzzFeed’s value peaked in the 2010s but has fallen since shifting away from journalism in 2023.
BuzzFeed went public in 2021 but has struggled financially, with losses such as $15 million in the first quarter of 2026.
Allen is buying 40 million shares at $3 each, although the current stock price is around $0.71 per share.
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A report from the University of Toronto shows that U.S. cities have seen a big drop—up to 65%—in Canadian visitors since President Donald Trump introduced tariffs and made comments about Canada’s status. This decline affects not only tourists but also business travelers, especially in cities with strong economic ties to Canada.
Key Facts
Canadian visits to major U.S. cities dropped by about 42% between April 2024–March 2025 and April 2025–March 2026.
The data comes from tracking Canadian cell phone activity in U.S. cities.
The drop is larger than official border crossing numbers, which showed only a 25% decline.
Cities in the Sun Belt and Northeast U.S. near the Canadian border experienced the biggest falls in Canadian visitors.
Myrtle Beach, South Carolina, saw the largest decrease at 65.4%.
Business travel from Canada also fell sharply as some workers choose virtual meetings over trips.
The decline has hurt U.S. cities and businesses that rely on Canadian tourists and business visitors.
Some recent data suggests a small recovery, but tariffs and trade tensions may keep visits lower long-term.
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Experts are discussing whether suspending the federal gas tax would lower prices at gas stations. This debate comes as many drivers get ready for the busy summer travel period.
Key Facts
The federal gas tax is a fee added to the cost of gasoline to help pay for roads and bridges.
Some people suggest temporarily stopping this tax to lower gas prices for drivers.
Experts are analyzing if this tax break would actually result in cheaper gas at the pump.
The discussion is timely because summer is a peak time for travel in the U.S.
Patrick De Haan from GasBuddy is one expert examining the possible effects of the tax suspension.
The federal gas tax holiday is being considered as a way to help drivers face high fuel costs.
There is debate over whether gas stations will pass the savings directly to customers.
The outcome may affect how much Americans pay for gasoline this summer.
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Virginia Giuffre’s memoir, Nobody’s Girl, won the top prize at the British Book Awards. The book, released six months after her death, tells about her experiences with Jeffrey Epstein and Ghislaine Maxwell and influenced changes in the British royal family regarding Andrew Mountbatten-Windsor.
Key Facts
Virginia Giuffre’s memoir Nobody’s Girl won the British Book Awards’ book of the year and non-fiction narrative book of the year.
The memoir was published six months after Giuffre took her own life.
The book details Giuffre’s encounters with Jeffrey Epstein and Ghislaine Maxwell, both involved in sex trafficking and abuse cases.
The memoir included allegations against Andrew Mountbatten-Windsor, which he has denied.
Following the book’s publication, King Charles III removed royal titles and honors from Andrew Mountbatten-Windsor.
The award was accepted by Giuffre’s family, with a video speech highlighting her courage and impact as a survivor.
The British Book Awards also honored other authors, including posthumous awards for Sophie Kinsella, Joanna Trollope, and Dame Jilly Cooper.
The awards ceremony celebrated a range of categories including children’s books, romantic fiction, graphic novels, and audiobooks.
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Byron Allen will become the new CEO of BuzzFeed, replacing the founder Jonah Peretti. Peretti will move to become president of BuzzFeed AI, while Allen’s firm bought 40 million shares of the company.
Key Facts
Byron Allen is set to become BuzzFeed's new CEO.
Jonah Peretti, the founder and current CEO, will become president of BuzzFeed AI.
Allen's investment company, Allen Family Digital, bought 40 million shares of BuzzFeed.
The shares were purchased at $3.00 each.
The announcement was made in a company release on Monday.
BuzzFeed AI is a division focused on artificial intelligence within the company.
This leadership change represents a major shift for BuzzFeed's management.
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Stock markets opened higher on Monday even though there is a war in Iran and gas prices are high. The S&P 500 and Nasdaq indexes reached new record levels, mainly helped by technology companies.
Key Facts
Stocks started trading higher on Monday despite concerns about the war in Iran.
Gas prices remain high during this time.
The S&P 500 stock index hit a record high.
The Nasdaq stock index also reached a new record high.
The technology sector played a big role in pushing stocks up.
Yahoo Finance reporter Brooke DiPalma provided analysis on the situation.
CBS News covered the story and made it available through their app and websites.
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British Prime Minister Keir Starmer announced plans to pass a law that will allow the government to fully own British Steel, the UK’s last steel plant that produces steel from basic raw materials. The government took control of the steelworks from its Chinese owner last year to prevent the closure of its blast furnaces.
Key Facts
Keir Starmer is the Prime Minister of the UK.
He plans to introduce legislation to nationalise British Steel fully.
British Steel’s plant in Scunthorpe is the last UK site that makes steel from raw materials.
The UK government took control of this steelworks from a Chinese company last year.
The takeover happened to stop the closure of the steelworks’ blast furnaces, which are essential for making steel.
Nationalisation means the government will own and manage the company directly.
This move aims to protect the UK steel industry and jobs at the plant.
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A large data center in Fayette County, Georgia, used nearly 30 million gallons of water without being charged due to unmonitored water connections. The county only found out months later during a transition to a new water monitoring system, and while QTS paid the back charges, the county did not fine the company despite local drought and water shortages.
Key Facts
The data center belonged to Quality Technology Services (QTS) in Fayette County, Georgia.
QTS had two large water hookups that were not monitored or billed for months.
The uncharged water amounted to about 30 million gallons during a drought period.
Fayette County retroactively charged QTS about $150,000 but did not fine them.
The water system was switching from old meters to a new smart, cloud-based monitoring system.
The county’s water staff was understaffed and missed the high water use.
Residents experienced water pressure problems and were asked to reduce water use during the drought.
QTS said their water use followed all regulations and denied causing water pressure issues.
The county said it will now accurately monitor QTS’s water use going forward.
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Five Guys will close four restaurants in California between late May and early July 2026, causing 55 job losses. The company said financial difficulties led to the closures amid rising costs and changing customer spending habits.
Key Facts
Four Five Guys locations in California (Whittier, City of Industry, Merced, Hanford) will close by early July 2026.
A total of 55 employees will be laid off due to these closures.
Five Guys remains open with over 1,700 restaurants worldwide and more than 130 still in California.
Rising labor costs in California include a $20 minimum wage for fast food workers, increasing expenses for restaurants.
Inflation and higher costs for food and rent are pressuring mid-tier fast-casual restaurants like Five Guys.
Customers are spending less on expensive meals, choosing cheaper fast food or cooking at home.
Other fast food chains, such as Wendy’s, are also closing locations to focus on value pricing and cost control.
Economic experts say higher wages can reduce hours worked and may lead to more restaurant closures in the future.
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Starting Tuesday, some American businesses will receive refunds for tariffs they paid that the Supreme Court ruled illegal. Over 330,000 importers paid these tariffs, and more than 75,000 businesses have already applied for the refunds through a new government online portal.
Key Facts
The government collected $166 billion in tariffs from more than 330,000 importers under the International Emergency Economic Powers Act (IEEPA).
The Supreme Court ruled that the administration exceeded its authority by imposing these tariffs.
At least 75,000 businesses have filed for refunds as of late April.
About 15% of refund claims have been rejected due to errors or ineligible shipments.
Large companies like General Motors expect to receive hundreds of millions in refunds; Walmart may get $10 billion, Target $2 billion, Nike $1 billion, and Macy’s $320 million.
Most companies plan to use the refunds to pay debts, rehire workers, restock goods, or possibly lower prices.
Consumers are unlikely to receive direct refunds for higher prices caused by the tariffs.
Shipping companies like UPS, FedEx, and DHL will refund customers directly for tariffs charged on certain packages.
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Vin Diesel announced that Peacock is producing a live-action TV series based on the "Fast & Furious" film franchise. The new shows aim to expand the stories of the franchise’s characters and will be overseen by Universal Television and several executive producers, including Diesel.
Key Facts
The "Fast & Furious" franchise started over 25 years ago and has made billions of dollars.
Vin Diesel shared the announcement at an NBCUniversal event with Jimmy Fallon.
Peacock will launch four new shows set in the "Fast & Furious" universe.
The shows will focus on expanding the stories of the legacy characters in the series.
Fans online showed mixed reactions, with some unhappy about extending the franchise to TV.
The original film series has 11 movies featuring stars like Paul Walker, Dwayne Johnson, and Jason Statham.
Mike Daniels and Wolfe Coleman will be co-showrunners and executive producers of the TV series.
Vin Diesel and other producers will also serve as executive producers for the project.
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Singer Dua Lipa is suing Samsung for $15 million because the company kept using her picture on its TV boxes even after she asked them to stop. She filed the lawsuit to stop Samsung from using her image without permission.
Key Facts
Dua Lipa is a singer-songwriter.
Samsung used her image on the front of its TV boxes.
She asked Samsung multiple times to stop using her picture.
Samsung did not stop and kept using the image.
Dua Lipa filed a lawsuit against Samsung on Friday.
She is seeking $15 million in damages.
The lawsuit claims Samsung ignored her commercial rights.
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Interest rates for certificates of deposit (CDs), high-yield savings accounts, and money market accounts are currently similar but not exactly the same. For an $80,000 deposit, CDs offer the highest guaranteed returns over 6, 9, or 12 months, while savings and money market accounts have variable rates that may change.
Key Facts
The Federal Reserve recently paused interest rate changes, keeping rates stable for savers.
An $80,000 CD at about 4.10% interest pays more than a high-yield savings or money market account over 6, 9, or 12 months.
CDs have a fixed interest rate, meaning the rate doesn’t change during the term.
High-yield savings and money market accounts have variable rates that can go up or down depending on the market.
Over one year, an $80,000 CD can earn about $3,280 in interest.
High-yield savings accounts and money market accounts earn slightly less but offer more flexibility.
Investors must keep funds in a CD until maturity or face early withdrawal penalties.
Some savers might prefer to split their money between these three options to balance returns and flexibility.
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Dua Lipa has sued Samsung for using her photo on TV boxes without permission. She claims this use violates her rights and has damaged her ability to control and earn from her image.
Key Facts
Dua Lipa filed a lawsuit in a California federal court against Samsung.
The suit alleges copyright and trademark infringement and misuse of her image.
The photo used is titled “Dua Lipa – Backstage at Austin City Limits, 2024.”
Samsung used the image on many TV boxes sold across the US in 2025 and beyond.
Lipa asked Samsung to stop using the image after finding out in June 2025, but they did not comply.
Online posts suggest Lipa’s image influenced some people to buy Samsung TVs.
Lipa seeks at least $15 million in damages and a court order to stop Samsung from using her image.
Samsung has not publicly responded to the lawsuit because it is ongoing.
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The U.S. House of Representatives is voting on a bill to allow the sale of E15 gasoline, which contains 15% ethanol made in the United States, throughout the entire year. This change aims to lower fuel costs for drivers and support fair competition among fuel refiners.
Key Facts
The bill proposes allowing E15 gasoline sales all year round nationwide.
E15 contains 15% ethanol made in the U.S.
Ethanol is a type of biofuel made from plants, often corn.
E15 is cheaper than regular gasoline, which can save money for drivers.
The bill intends to help fuel refiners compete fairly in the market.
Currently, E15 sales are limited during certain months due to regulations.
Expanding E15 sales could increase the use of American-made biofuel.
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When you turn 73, you must start taking money out of your retirement accounts, called required minimum distributions (RMDs). For a $100,000 account, the amount you must withdraw increases with age and you have to pay taxes on the money you take out.
Key Facts
RMDs generally begin at age 73 for retirement accounts like 401(k)s or IRAs.
The amount to withdraw is based on dividing your account balance by a life expectancy number from IRS tables.
For example, at age 73, the RMD from $100,000 is about $3,774; by age 83, it grows to about $5,650 annually.
The life expectancy factor used in the calculation gets smaller each year, causing RMD amounts to rise.
Money withdrawn via RMDs is taxed because it was saved in tax-deferred accounts.
Many Americans are far from the retirement savings they consider comfortable; the average worker has less than $1,000 saved.
Precious metals like gold and silver can help protect retirement savings but should make up only a small part of a portfolio.
Gold and silver do not provide income but may hold or increase value when other investments drop.
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New research by the National Theatre shows that watching theatre performances online or in cinemas does not reduce people going to live shows. Instead, streaming theatre helps audiences try new plays, watch more shows, and reach people who might not attend in person.
Key Facts
The National Theatre asked a research agency called Indigo to study how people feel about watching filmed theatre.
Most people like watching theatre live, with 89% saying it is their top choice.
Watching theatre at home is popular because it is convenient, can be paused, and lets viewers discover new shows.
93% of people who watch filmed theatre also go to live performances.
Streaming theatre attracts younger viewers, especially under 35.
More disabled people watch theatre at home (20%) than attend live shows (15%).
Filmed theatre helps shows last longer by reaching more people beyond the short live run.
Directors say filming theatre creatively adds new ways to experience the performance.
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