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Business News

Business news, market updates, and economic developments

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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Target Boycott Leader Insists Fight Will Continue: 'Shop Elsewhere'

Target Boycott Leader Insists Fight Will Continue: 'Shop Elsewhere'

Summary

A boycott against Target, led by Nekima Levy Armstrong from the Racial Justice Network, continues despite Rev. Jamal Bryant announcing the end of his involvement in the protest. The boycott responds to Target's reduction of diversity, equity, and inclusion (DEI) programs, a move influenced by President Donald Trump's policies.

Key Facts

  • Nekima Levy Armstrong continues to support a boycott of Target after it rolled back DEI initiatives.
  • The boycott is a response to Target's decision following President Trump's executive orders against DEI programs.
  • Rev. Jamal Bryant, who initially supported the boycott, has ended his involvement after discussions with Target leaders.
  • Armstrong asserts that Bryant does not represent the wider group's stance on the boycott.
  • The boycott focuses on urging Target to maintain its DEI commitments.
  • Target has stated its commitment to inclusivity despite the protest.
  • The duration and outcome of the boycott remain uncertain.
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Tariff Refund Update as US Businesses Offered Buyouts

Tariff Refund Update as US Businesses Offered Buyouts

Summary

Businesses in the U.S. may receive refunds for tariffs they paid under a rule that was overturned by the Supreme Court. Many importers are considering selling their rights to these refunds to avoid long waits. The U.S. Customs and Border Protection is trying to set up a system to handle these large-scale refunds.

Key Facts

  • The Supreme Court overturned President Trump's global tariffs.
  • Around $166 billion in tariffs is owed to about 330,000 importers.
  • Businesses can sell their refund rights to buyers who will handle the wait for a share of the refund.
  • Offers for these refund rights have risen, now paying around 60% of the refund's value.
  • The Court of International Trade ordered immediate refunds but paused the directive due to logistical challenges.
  • The U.S. Customs and Border Protection needs 4.4 million man-hours to process the refunds manually.
  • A 45-day delay was requested to set up an automatic refund system.
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Map Shows Riskiest Housing Markets In US

Map Shows Riskiest Housing Markets In US

Summary

A report from property data provider ATTOM reveals that Florida has the most counties at risk for falling home prices in the U.S. due to high inventory and slowing demand. This trend is expected to continue until 2026, with specific counties showing high foreclosure rates and unemployment. Meanwhile, counties in the Northeast and Midwest are less at risk due to housing shortages.

Key Facts

  • Florida has 16 of the 50 most vulnerable counties for falling home prices.
  • California follows with 11 counties at risk and New Jersey has four.
  • High foreclosure rates and rising unemployment contribute to risk levels.
  • Florida's median home price in February was $415,200, a slight 0.4% increase from the previous year.
  • Counties like Charlotte in Florida and Charles in Maryland are among those most at risk.
  • Wisconsin, New York, Pennsylvania, and Tennessee have some of the least risky counties.
  • ATTOM's report cites the slow correction of Florida's housing market after the pandemic boom.
  • Home prices in major Florida metro areas are expected to continue declining until 2026.
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Diners Not Ready For What They See On Restaurant Receipt: 'No Way'

Diners Not Ready For What They See On Restaurant Receipt: 'No Way'

Summary

A diner in Atlanta noticed an extra 4% fee on their restaurant bill, intended to support employee health insurance, which was not clearly communicated beforehand. This led to discussions online about the responsibility of covering employee benefits and the transparency of fee disclosures in restaurants.

Key Facts

  • A diner in Atlanta saw a 4% fee added to their restaurant bill.
  • The fee is meant to help cover health insurance for employees.
  • The diner claimed the fee was not clearly mentioned on the menu they saw.
  • Reddit users debated the fairness and transparency of such fees.
  • Some users noted the fee is advertised on the restaurant's online dinner menu.
  • Unexpected fees like this have appeared in previous restaurant incidents reported online.
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Estée Lauder sues Jo Malone over use of name in collaboration with Zara

Estée Lauder sues Jo Malone over use of name in collaboration with Zara

Summary

Estée Lauder is taking legal action against Jo Malone for using her name in a collaboration with fashion brand Zara. Estée Lauder claims this use violates a previous agreement and affects their brand identity. They are suing for trademark infringement and breach of contract.

Key Facts

  • Estée Lauder bought the Jo Malone brand and the rights to the name in 1999.
  • Jo Malone collaborated with Zara using the label "A creation by Jo Malone CBE, founder of Jo Loves."
  • Estée Lauder says this usage weakens the Jo Malone London brand.
  • Jo Malone previously agreed not to use her name for marketing after selling the rights.
  • Estée Lauder is suing Jo Malone, her new brand Jo Loves, and Zara's UK division.
  • The legal action includes charges of trademark infringement and breach of contract.
  • Jo Malone's original business became known for its unique fragrances and expanded into candles and bath products.
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Woman Orders Grocery Delivery—Not Ready for What’s Caught on Camera

Woman Orders Grocery Delivery—Not Ready for What’s Caught on Camera

Summary

A woman's grocery delivery experience through Uber Eats went viral after the delivery driver left the items scattered on a porch. The incident sparked discussions about the reliability of app-based delivery services. Uber Eats advises customers to report any delivery issues to the company.

Key Facts

  • A TikTok video showed a delivery driver leaving groceries on a porch instead of handing them to the customer.
  • The delivery was made to the wrong house, according to the video's caption.
  • The video gained attention for illustrating potential problems with app-based delivery services.
  • Viewers expressed frustration with the service quality of delivery apps in the comments section.
  • Uber Eats states customers should report issues with damaged deliveries through their platform.
  • There is growing criticism about the working conditions and pay for delivery app workers.
  • The incident highlights a broader debate about the balance between convenience and quality in app-based services.
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Grocery Store Worker Awarded $15,000 After Being Left Out of LinkedIn Post

Grocery Store Worker Awarded $15,000 After Being Left Out of LinkedIn Post

Summary

A grocery store manager in the UK won about $15,000 after he was excluded from a social media post by his boss on International Men's Day. The exclusion was ruled as harassment related to his disability by a tribunal.

Key Facts

  • Darren Cooper, a grocery store manager at Sainsbury's, was excluded from a social media post meant to celebrate male leaders.
  • Cooper was on sick leave for anxiety when the post was made.
  • The post included photos and names of all other regional store managers but left out Cooper.
  • Cooper claimed the exclusion worsened his health and led to questions about his job status.
  • Cooper filed legal action against Sainsbury's for disability discrimination, harassment, and unfair dismissal.
  • The tribunal dismissed discrimination and unfair dismissal claims but agreed on harassment and unfavorable treatment.
  • Cooper was awarded £11,852 ($15,872) in compensation.
  • The tribunal noted that Cooper's exclusion was due to his boss's conscious decision, not Cooper's status or wishes.
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Cheese Recall Update as FDA Sets Most Serious Risk Level

Cheese Recall Update as FDA Sets Most Serious Risk Level

Summary

The FDA updated the recall of several flavors of cream cheese made by Made Fresh Salads Inc. with its highest risk level, Class I, due to possible Listeria contamination. The products were distributed in the New York City area, and consumers are advised not to consume them and return them for a refund.

Key Facts

  • The recall involves multiple cream cheese flavors made by Made Fresh Salads Inc.
  • The recall received a Class I risk classification, indicating a high risk for serious health issues.
  • The cream cheese may be contaminated with Listeria, a harmful bacteria.
  • Affected products were sold in 5-pound tubs with expiration dates through February 27, 2026.
  • Distribution occurred in Brooklyn, Queens, the Bronx, and the New York City area.
  • No illnesses have been reported as of the article's publication.
  • The issue was traced to a contaminated mixer part, which has been removed.
  • Consumers should return affected products to the place of purchase for a refund.
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Trump’s Favorite Shoe Brand Florsheim Is Suing Him

Trump’s Favorite Shoe Brand Florsheim Is Suing Him

Summary

A company that owns the shoe brand Florsheim is suing President Trump's administration over tariffs applied during his second term. The company, Weyco Group Inc., claims these tariffs are illegal and wants the U.S. court to refund the duties collected.

Key Facts

  • Weyco Group Inc. owns Florsheim Shoe Company.
  • The lawsuit is against tariffs imposed by President Trump's administration.
  • Weyco Group argues these tariffs were enacted without proper authority.
  • The legal challenge focuses on the International Emergency Economic Powers Act (IEEPA).
  • Weyco Group seeks a refund of duties it believes were wrongfully collected.
  • The case is part of many challenges to tariffs by importers.
  • The lawsuit names several U.S. government departments and entities as defendants.
  • Court proceedings are on hold pending further legal guidance.
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