Business News

Martin Lewis breaks down the energy bill changes

February 25, 2026 • BBC Business

Summary

Financial expert Martin Lewis explains recent changes to energy bills. The discussion took place on a BBC Sounds episode.

Key Facts

Martin Lewis discusses changes to energy bills.
The explanation is available on BBC Sounds.
The topic involves electricity pricing.
Martin Lewis focuses on personal finance.
The changes relate to the cost of living.

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BBC Business

Millions in Georgia and Alabama To See $7 Billion in Electricity Savings

February 25, 2026 • Newsweek

Summary

The U.S. Department of Energy has approved a $26.5 billion loan to support Alabama Power and Georgia Power, which are subsidiaries of Southern Company. This loan is expected to save over $7 billion in electricity costs for millions of customers in Georgia and Alabama over three decades. The plan aims to improve the electricity grid and create jobs.

Key Facts

The DOE's $26.5 billion loan supports Alabama Power and Georgia Power.
The loan aims to save customers over $7 billion in electricity costs.
It will help enhance grid reliability in Georgia and Alabama.
The initiative includes modernizing energy systems like hydropower and battery storage.
Alabama Power customers currently pay the highest average electricity bills in the U.S.
The financing package is the largest ever by the DOE.
Improvements will affect 4.3 million customers across the two states.
Southern Company expects to reduce borrowing costs and maintain stable rates.

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Newsweek

Zimbabwe imposes ban on exports of all raw minerals and lithium concentrate

February 25, 2026 • Al Jazeera

Summary

Zimbabwe has stopped exporting raw minerals and lithium concentrates immediately. This decision aims to encourage local processing of minerals. The government wants to add more value to its resources before export.

Key Facts

Zimbabwe banned exports of all raw minerals and lithium concentrates immediately.
The ban includes minerals that were already in transit.
This measure aims to encourage local processing and add value to minerals before exporting.
Originally, the export ban on lithium was planned for January 2027.
The government cited concerns about export malpractices as part of the reason for the immediate ban.
Zimbabwe has Africa's largest lithium reserves and exported over 1 million metric tonnes of lithium concentrate in 2025.
Most lithium concentrate from Zimbabwe is usually sent to China for further processing.
The country is aiming to benefit more from the global demand for green energy resources.
Mining is the second-largest contributor to Zimbabwe's economy, making up 14.3% of GDP.

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Al Jazeera

Larry Summers to Resign From Harvard Amid Epstein Controversy

February 25, 2026 • Newsweek

Summary

Larry Summers will leave his roles at Harvard University at the end of the academic year. This decision is linked to past emails showing his connection with Jeffrey Epstein, which has led to increased scrutiny and a review of Harvard's history with Epstein.

Key Facts

Larry Summers will resign from his academic roles at Harvard University by the end of the academic year.
Summers will not be teaching or advising students before his departure.
Summers was Treasury Secretary under President Bill Clinton and worked with President Barack Obama’s National Economic Council.
Emails revealed Summers had a long-standing relationship with Jeffrey Epstein, even after Epstein’s 2008 conviction.
The controversy led to Harvard reviewing its ties to Epstein and caused Summers to step down from other high-profile positions.
This is ongoing breaking news with potential updates to follow.

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Newsweek

McDonald’s Makes ‘Big’ Menu Change

February 25, 2026 • Newsweek

Summary

McDonald’s is introducing the Big Arch Burger, which features two quarter-pound beef patties, in the United States for a limited time starting March 3, 2026. The burger is already a permanent menu item in the U.K. Its U.S. price will vary by location.

Key Facts

McDonald’s will offer the Big Arch Burger in the U.S. from March 3, 2026, for a limited time.
The burger includes two quarter-pound beef patties, cheddar cheese, onions, lettuce, pickles, and a special sauce.
It is already a permanent menu item in the United Kingdom.
The calorie count for the burger in the U.K. is around 1,057.
The price in the U.S. is not fixed, but it might range from $10 to $11.
Strong sales could make the burger a permanent menu item in the U.S., as it did in the U.K.

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Newsweek

How banks, billionaires aided Epstein after his 2008 conviction

February 25, 2026 • Al Jazeera

Summary

Documents from the U.S. Department of Justice reveal that after Jeffrey Epstein's 2008 conviction, he maintained significant connections with powerful financial figures. These connections, including ties with prominent bankers, helped him stay influential in financial circles. Epstein was later charged with sex trafficking in 2019 before his death.

Key Facts

Jeffrey Epstein made a plea deal in 2008, serving less than 13 months for procuring a minor for prostitution.
Despite being a registered sex offender, Epstein kept connections with influential financial figures and institutions.
U.S. Department of Justice released documents showing Epstein's continued financial activities and connections until 2019.
Jes Staley, a banker with JPMorgan Chase, maintained a relationship with Epstein even after his conviction.
Emails suggest Staley and Epstein communicated frequently, with personal and at times suggestive content.
JPMorgan Chase eventually ended its relationship with Epstein in 2013.
Epstein’s financial dealings, and relationships with banks and billionaires, were central to investigations.

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Al Jazeera

Zaxbys Makes Permanent Menu Change

February 25, 2026 • Newsweek

Summary

Zaxbys, a fast-food chain, has added new dry rub options to its menu as permanent choices. The new flavors include Garlic Parmesan and Nashville Hot, alongside the existing Lemon Pepper dry rub. This change reflects a trend in the restaurant industry to offer popular and new items to attract more customers.

Key Facts

Zaxbys has new dry rub flavors: Garlic Parmesan and Nashville Hot.
The original dry rub, Lemon Pepper, remains on the menu.
These dry rubs can be added to chicken and fries.
Zaxbys Rewardz members can add dry rubs to crinkle fries until April 27 through digital platforms.
A limited-time Peaches & Cream Milkshake has also been introduced.
Zaxbys operates over 1,000 locations, mainly in the southeastern U.S.
Earlier this year, Zaxbys reintroduced Southern Fried Shrimp and Giant Chicken Quesadillas.
The restaurant industry is using popular menu items to increase customer visits.

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Newsweek

Thifter Buys $10 Boots—Even Shop Assistant Is Stunned To See Label

February 25, 2026 • Newsweek

Summary

A TikTok video shows a woman buying designer boots for $10 at a thrift store, surprising both the shopper and the shop assistant. The video has gained a lot of attention online, highlighting the growing trend of second-hand shopping in the U.S.

Key Facts

A woman bought Michael Kors designer boots for $10 at a thrift store.
The video of the purchase was shared on TikTok and has over 255,000 views.
The video highlights the trend of second-hand shopping in the U.S.
According to a report, 93% of Americans shop online for second-hand items.
The U.S. second-hand market was valued at $56 billion in 2025 and is expected to reach $61 billion by 2026.
There are more than 25,000 resale and consignment shops across the U.S.
Thrifters save about $2,071 a year by buying second-hand goods.

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Newsweek

Aston Martin cuts 20% of workforce as losses widen

February 25, 2026 • BBC Business

Summary

Aston Martin plans to reduce its workforce by 20% after its net losses increased by 52% to £493.2 million in 2025. The company hopes the job cuts will save around £40 million annually. Aston Martin blames U.S. tariffs and decreased demand in China for its financial struggles.

Key Facts

Aston Martin will cut about 600 jobs, which is 20% of its workforce.
In 2025, Aston Martin's net losses rose by 52% to £493.2 million.
The company aims to save approximately £40 million a year with the job cuts.
Aston Martin cited U.S. tariffs and low demand in China as major challenges.
Capital spending on electric vehicles reduced from £2 billion to £1.7 billion.
Most job cuts will happen in the UK, where many Aston Martin employees work.
Aston Martin has offices and dealerships worldwide, including a site in St Athan, South Wales.

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BBC Business

Trump Tariffs Update: Greer Warns Higher Rates Are Coming

February 25, 2026 • Newsweek

Summary

U.S. Trade Representative Jamieson Greer announced plans to increase tariff rates as part of maintaining President Trump's trade policies. Some tariffs will rise from 10% to 15%, while tariffs on China are expected to stay between 35% and 50%.

Key Facts

Jamieson Greer is the U.S. Trade Representative.
The administration plans to raise some tariffs from 10% to 15%.
Tariffs related to China will remain between 35% and 50%.
The changes aim to continue President Trump's approach to trade policy.
The U.S. had previously reached a trade deal with China in 2025.
The announcement follows a Supreme Court ruling on emergency powers for imposing tariffs.

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Newsweek

The Average Living Wage Across 50 US States: Full List

February 25, 2026 • Newsweek

Summary

A study by USA Today and MoneyLion shows that there are big differences in how much money families need to cover basic living costs in each U.S. state. The research details the hourly wage needed for a family of four to afford essentials like rent, groceries, and healthcare. Hawaii, Massachusetts, and California are the states requiring the highest wages, while Mississippi and Oklahoma have the lowest.

Key Facts

The study calculates the living wage needed for a family of four, using data from the 2024 Consumer Expenditure Survey and cost-of-living indexes.
In Hawaii, the highest hourly living wage is $69.43, needed due to high housing and food costs.
The lowest hourly living wage is $25.35 in Mississippi.
Massachusetts and California have high living wages at $54.25 and $46.22 per hour, respectively.
On average, households in half of the U.S. states need to earn about $30 per hour to meet basic needs.
The analysis was based on the assumption that family members work 2,080 hours a year, which is typical full-time work.
The study uses data from USA Today and fintech company MoneyLion.

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Newsweek

Why New McDonald's Ad Campaign Will Show Empty Boxes With No Food

February 25, 2026 • Newsweek

Summary

McDonald’s started a new advertising campaign in Germany to show respect for Ramadan, a religious month where Muslims fast during daylight. The ads display empty food boxes during the day and show them filled with food after sunset, when those fasting can eat.

Key Facts

The new McDonald’s campaign uses digital billboards that change messages depending on the time of day.
During daylight hours, the billboards show empty McDonald's food packaging.
After sunset, when Muslims break their fast, the packaging appears full with food.
The campaign aligns with Ramadan, a Muslim holy month where fasting is practiced from sunrise to sunset.
It was created by the German ad agency Scholz & Friends.
There are around 6 million Muslims in Germany who observe Ramadan each year.
McDonald’s has done similar Ramadan campaigns in other countries, like Indonesia and Malaysia.

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Newsweek

GM Recalls 43,000 Chevrolet, GMC and Cadillac SUVs Over Rear-Wheel Lock-up Risk

February 25, 2026 • Newsweek

Summary

General Motors is recalling over 43,000 SUVs from the 2022 model year because of a transmission problem that could cause rear-wheel lock-up. The recall affects Chevrolet, GMC, and Cadillac models with specific transmission systems. The company plans to fix the issue with a software update available at no cost to vehicle owners.

Key Facts

General Motors (GM) is recalling 43,732 2022 SUVs due to a potential rear-wheel lock-up issue.
The affected models are from Chevrolet, GMC, and Cadillac with petrol engines and 10-speed automatic transmissions.
The specific models are the Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon, GMC Yukon XL, Cadillac Escalade, and Cadillac Escalade ESV.
The problem stems from excess wear in the transmission, which can lead to fluid leaks and pressure drops.
GM discovered this issue from field data and internal reviews with reports dating between November 2023 and October 2025.
Dealers will offer a free software update to monitor and diagnose the issue before it causes a lock-up.
Notification letters for the update will be sent starting on March 30, 2026.

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Newsweek

Bill Gates Admits Affairs, Discusses Epstein Relationship: Report

February 25, 2026 • Newsweek

Summary

Bill Gates admitted to having affairs and expressed regret for his connections with Jeffrey Epstein during a meeting with Gates Foundation employees. Gates explained that he had two affairs discovered by Epstein but they did not involve Epstein's victims. He acknowledged it was a mistake to associate with Epstein and apologized for any resulting consequences.

Key Facts

Bill Gates admitted to having two affairs, which were discovered by Jeffrey Epstein.
Gates stated that the affairs did not involve any of Epstein's victims.
In a meeting with Gates Foundation employees, Gates called his association with Epstein a "huge mistake."
Gates apologized for involving other people in the consequences of his actions related to Epstein.
The Department of Justice recently released documents about Epstein, leading to more information about Gates' interactions with him.
Gates denied claims of contracting a sexually transmitted disease as "absolutely absurd and completely false."

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Newsweek

Century-old teddy sells for four times estimate

February 25, 2026 • BBC Top Stories

Summary

A rare teddy bear believed to be made by Steiff in 1908 was sold at an auction for £1,250, significantly exceeding its estimated price. The bear, found during an estate clearance, was expected to sell for £300 to £500 but attracted a lot of interest despite its worn condition.

Key Facts

A teddy bear, thought to be made by Steiff in 1908, sold for £1,250 at auction.
The auction took place at the Cotswold Auction Company.
The bear was found during an estate clearance and was expected to sell for £300 to £500.
Features of the bear include a brown mohair coat, jointed limbs, and a swivel head.
The bear still has a working growl, though it now sounds more like a squeak.
It has some wear and tear, including bald patches and a repaired muzzle.
Despite missing the Steiff trademark button, experts strongly believe it to be a Steiff bear.

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BBC Top Stories

Volvo Recall Could Cost Brand $195 Million as Owners Warned of Fire Risk

February 25, 2026 • Newsweek

Summary

Volvo is recalling about 40,000 EX30 electric SUVs around the world due to a problem with the high-voltage battery, which could lead to a fire risk. The recall affects certain long-range models, and Volvo is advising owners to limit battery charging to 70% until a fix is available. The repairs are expected to cost Volvo $195 million.

Key Facts

Volvo is recalling 40,323 EX30 electric SUVs worldwide.
The recall affects the Single-Motor Extended Range and Twin-Motor Performance models.
Owners are advised to limit charging to 70% to reduce fire risk.
The battery issue is linked to potential overheating that could lead to a fire.
Volvo will fix the battery problem at no cost to the owners.
The estimated cost of the recall to Volvo is $195 million.
Owners are advised not to leave vehicles unattended while charging in enclosed spaces.

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Newsweek

Number of Home Sales Falling Through Hits New Record

February 25, 2026 • Newsweek

Summary

In January, about 40,000 U.S. home-purchase deals were canceled, the highest recorded for that month since 2017. Real estate company Redfin reported this increase in cancellations, suggesting it is due to more sellers than buyers, which gives buyers the chance to cancel deals more easily.

Key Facts

About 40,000 home-purchase agreements in the U.S. were canceled in January.
This is the highest cancellation rate for January since tracking began in 2017.
Redfin reported that 13.7% of homes under contract fell out of escrow in January.
The increase in cancellations is linked to a market with more sellers than buyers.
Financial worries, including housing costs and job concerns, have contributed to cancellations.
San Antonio had the highest cancellation rate among large cities at 21.2%.
San Francisco had the lowest cancellation rate at 3.5%.
Redfin says the market has been buyer-friendly since mid-2024 due to the gap between sellers and buyers.

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Newsweek

List of Companies Leaving California For Texas

February 25, 2026 • Newsweek

Summary

Public Storage, the largest self-storage company in the U.S., is moving its main office from California to Texas. This move is part of a trend where many companies are relocating their headquarters from California to Texas for reasons like lower costs and access to talent.

Key Facts

Public Storage is relocating its headquarters from Glendale, California, to Frisco, Texas.
The company will still keep a significant presence in Glendale despite the move.
CEO Thomas Boyle mentioned that Texas has a large pool of talent and innovation.
Other companies, like Tesla, X (formerly Twitter), Chevron, AECOM, McKesson, Hewlett Packard Enterprise, and Oracle, have also moved their headquarters from California to Texas.
Reasons for these moves include business-friendly regulations, lower costs, and better quality of life in Texas.
Public Storage's move continues a trend of businesses keeping operations in California while moving headquarters to Texas.

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Newsweek

Popular Restaurant Chain Closing Locations Across Three States

February 25, 2026 • Newsweek

Summary

Applebee's, a well-known restaurant chain, is closing some of its locations in New York, Missouri, and Indiana. Despite these closings, the company plans to open more restaurants in new areas over the coming years. Applebee's currently operates over 1,500 locations around the world.

Key Facts

Applebee's is closing locations in New York, Missouri, and Indiana.
In Evansville, Indiana, two restaurants closed in February after more than 30 years.
A restaurant in Glenville, New York, is planning to close on April 12, 2026.
In Columbia, Missouri, an Applebee's near Stadium Boulevard closed on February 18.
Applebee's plans to open 25 new locations across the U.S. over the next seven years.
The chain has over 1,500 locations in 11 countries and territories.
Applebee's received an American Customer Satisfaction Index score of 79 in 2023 and 2024, and 80 in 2025.
Their expansion plan involves partnering with Flynn Group, a major franchise operator.

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Newsweek

Elusive Shein boss hails Chinese roots in rare public appearance

February 25, 2026 • BBC Tech

Summary

Shein's founder, Xu Yangtian, made a rare public appearance to reaffirm the company's commitment to China. He announced a significant investment in the Guangdong province's clothing industry. The company plans to maintain a strong presence in China despite its global expansion efforts.

Key Facts

Shein's founder, Xu Yangtian, also known as Sky Xu, appeared at a business conference in Guangdong, China.
Xu announced Shein would invest over 10 billion yuan (about $1.45 billion) in Guangdong to create a high-tech fashion hub.
Xu praised the Chinese government for its role in Shein's success, calling Guangdong "fertile ground" for development.
The company's headquarters are in Singapore, and it is considering a stock market listing in New York and London.
Shein supports over 600,000 jobs in Guangdong and plans to increase digital services there.
The company has faced scrutiny due to U.S. trade policies and concerns about its environmental impact and labor conditions.
The European Union is investigating Shein for potential digital law breaches, leading to the removal of certain products.
Shein plans to open more stores in France despite recent protests in Paris.

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BBC Tech

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