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Business news, market updates, and economic developments
Ray Ray's, a barbecue chain in Ohio, filed for Chapter 11 bankruptcy on December 19, 2025, and closed nearly half its locations due to rising meat costs. The chain, like others in the industry, is affected by increasing beef prices caused by reduced cattle supply and limited beef imports. The company plans to focus on its remaining locations in Ohio.
Key Facts
Ray Ray's filed for Chapter 11 bankruptcy protection on December 19, 2025.
The company closed three Ohio locations: Johnstown, Marion, and Linworth.
Rising beef costs are due to reduced cattle supply and limited imports.
Ground beef prices increased by 13% in August 2025 compared to the previous year.
Steak prices increased by 16.6%, and minced beef by 12.8% year-over-year.
Ray Ray's will continue operating four locations in Clintonville, Franklinton, Westerville, and Granville.
The financial difficulties facing Ray Ray's are similar to those of other barbecue chains, which have also filed for bankruptcy.
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Olive Garden plans to add a new "Lighter Portions" menu across all U.S. locations starting January 2024. This new section will offer smaller versions of popular dishes at lower prices, accommodating diners who prefer less food or want to save money. The initiative responds to changing consumer habits and economic factors affecting casual dining.
Key Facts
Olive Garden will introduce a "Lighter Portions" menu nationwide in January 2024.
The menu includes smaller sizes of seven dishes like Chicken Parmigiana and Fettuccine Alfredo.
Prices for "Lighter Portions" will range from $12.99 to $13.99.
Customers can still enjoy unlimited breadsticks and a choice of soup or salad with these meals.
The lighter portions cater to price-sensitive diners and those with reduced appetite, including people on medications that decrease hunger.
Olive Garden started testing this menu in 40% of its restaurants in fall 2023.
The decision for a national rollout was due to positive customer feedback and better affordability perceptions.
CEO Rick Cardenas mentioned the new menu could boost customer visits and satisfaction.
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Mark Constantine, co-founder of Lush, embraces the idea of being "woke" and integrates activism into his company's philosophy. Lush has expanded globally with Constantine maintaining a focus on values-driven business practices, including social justice and environmental issues.
Key Facts
Mark Constantine is the co-founder and chief executive of Lush, a global cosmetics company.
Lush is known for its activism, focusing on issues like trans rights and police accountability.
The company has 869 stores worldwide and an annual turnover of £690 million.
Lush has taken strong positions in retail, such as closing stores to protest and shutting down social media accounts.
Constantine believes business values should remain intact and opposes selling the company, citing Ben & Jerry's as an example.
The company aims to make shopping a fun experience with spa treatments and parties.
Constantine supports higher wages, viewing them as beneficial for the economy.
In 2020, Lush admitted to underpaying workers in Australia by over $4 million.
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The UK's competition watchdog reported that profit margins for petrol and diesel are still high, even though fuel prices at gas stations have dropped. The Competition and Markets Authority (CMA) stated that poor competition among fuel sellers contributes to this issue and that more competition could lead to lower prices for drivers.
Key Facts
The CMA noted high profit margins for petrol and diesel despite lower pump prices.
It found that poor competition among fuel retailers keeps prices high.
The report is the first annual monitoring report by the CMA on road fuel.
Petrol was priced at 136.8p per litre last week, and diesel was 146.1p.
A new "fuel finder" scheme will allow drivers to compare real-time fuel prices.
Retailers will need to report price changes within 30 minutes under this new scheme.
The CMA said higher operating costs do not fully explain the high profit margins.
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Filmmaker Nancy Meyers announced that she will start filming a new movie in May 2026. Actor Kieran Culkin will be part of the cast, and the film will be released in theaters, not on a streaming platform. This news follows the stalled development of Meyers' previous project, Paris Paramount, which faced budget and production challenges.
Key Facts
Nancy Meyers will begin shooting a new movie in May 2026.
Kieran Culkin, known from the "Father of the Bride" films, will be in the cast.
The film will have a theatrical release instead of streaming online.
Meyers announced the project during a Q&A on December 20, 2023.
Her stalled project, Paris Paramount, faced issues with Netflix but may continue with Warner Bros.
Meyers originally requested a $150 million budget for her previous project.
Paris Paramount was rumored to star several big Hollywood actors, but their involvement is now unclear.
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The price of gold reached a record high of over $4,400 an ounce due to expected interest rate cuts by the US central bank. Geopolitical tensions and trade issues have increased investors' interest in safe assets like gold. The value of other precious metals, including silver and platinum, has also risen significantly this year.
Key Facts
Gold prices exceeded $4,400 an ounce for the first time.
At the start of the year, gold was valued at $2,600 an ounce.
The rise in price is linked to expected interest rate cuts by the US central bank.
Gold prices have increased by more than 68% this year.
Silver also reached a record price of $69.44 an ounce.
Silver prices have risen by 138% so far in 2025.
A weaker US dollar made gold cheaper for overseas buyers.
Platinum has hit a 17-year high due to strong demand and supply constraints.
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Israel's defense industry is seeing very high profits. Companies in this industry are using images of attacks on Gaza to market their weapons as effective.
Key Facts
Israel's defense companies are experiencing record profits.
Weapons manufacturers claim their products are "battle-tested."
The companies use images from Gaza attacks for marketing.
These tactics suggest the weapons are proven in real conflict.
Al Jazeera's Nour Odeh reported on these developments.
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Leprino Foods, the world's largest mozzarella maker, announced it will close its plant in Lemoore, California by early 2026, resulting in 368 job losses. The company cited high operating costs and the opening of a new facility in Texas as reasons for the closure.
Key Facts
Leprino Foods plans to shut its Lemoore East facility in California.
The closure will lead to a loss of 368 jobs.
High operating costs in California contributed to the decision.
Leprino Foods is opening a new plant in Lubbock, Texas.
The new Texas facility will handle about 8 million pounds of milk daily.
A WARN notice was filed, informing 368 employees of permanent layoffs.
The Lubbock facility is expected to be operational by 2026.
The Lemoore East plant has operated since 1910.
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President Donald Trump has promised stimulus checks of $2,000, which he says are funded by tariff revenues. The timing and details of these checks depend on Congress's approval. Economists have raised concerns about the cost and inflation impact of these payments.
Key Facts
President Trump has mentioned $2,000 checks to Americans, funded by tariffs.
The checks are intended for households earning less than $100,000 annually.
Kevin Hassett, Trump's economic adviser, said Congress needs to approve the payments.
Trump indicated checks would start in mid-2026.
The federal government raised $195 billion from tariffs in the 2025 fiscal year.
Concerns include the cost of these payments and the potential for increased inflation.
Trump claimed on social media that everyone would receive the checks, except high-income earners.
Economist Erica York estimates the total cost could reach $300 billion if adults and children are included.
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A family-owned florist in Church Stretton, Shropshire, is experiencing high demand during the Christmas season, working long hours to fulfill orders. The store, which is celebrating its 40th anniversary, received strong support from the community and was a finalist in a national florist award.
Key Facts
The florist is located in Church Stretton, Shropshire.
The shop is operated by Catherine Thomas and her daughter, Bea Prosser.
They are working 12 to 15-hour days due to high demand during Christmas.
The shop marked its 40th anniversary this year.
It was a finalist in the British Florist Association's annual award.
Christmas is busier for the shop than Mother's Day and Valentine's Day.
The community has shown strong support for the florist.
The business has seen an increase in orders and social media following.
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A ban on Chinese-made drones in Florida has caused challenges for local law enforcement because American replacements reportedly lack necessary features. A national rule may soon limit DJI, a major Chinese drone maker, from selling in the U.S. unless they pass a security review. This affects law enforcement and other sectors such as farming and infrastructure that rely on DJI drones.
Key Facts
Florida banned Chinese-made drones, affecting police operations due to issues with U.S. alternatives.
DJI, a significant drone company, might face national restrictions unless cleared by a security review.
DJI drones are widely used in emergency services, agriculture, and infrastructure in the U.S.
Florida allocated $25 million to help agencies replace Chinese drones, but issues remain with performance and cost.
Republican officials support the ban, citing security concerns, while civil rights groups worry about drone use in policing.
Some Democrats also support limiting DJI use due to national security risks.
Before the ban, over 90% of Florida’s police drone programs used DJI, dropping significantly after the rule change.
The FCC will decide DJI's status by December 2025, which could further affect U.S. drone availability.
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Gift card scams are on the rise, with victims losing millions of pounds. Criminals are increasingly using gift cards as a method to steal money because banks have stronger protections in place. Experts urge consumers to be cautious when purchasing gift cards and to report any suspicious activity.
Key Facts
Fraud involving gift cards has increased by about 25% over the last two years.
In 2023/24, Report Fraud received 9,386 reports of gift card fraud, with losses amounting to over £18.5 million.
Victims are often tricked into buying tampered or fake gift cards.
Criminals may use phishing emails to offer fake gift card prizes or deals.
Amanda Wolf from Report Fraud notes most fraud reports come after the festive season.
Tesco advises customers to inspect gift cards for tampering before purchase.
Consumers are encouraged to use two-factor authentication and purchase gift cards from trusted sources.
Louise Baxter from the National Trading Standards Scams Team highlights the difficulty in tracking gift card fraud due to gift cards being hard to trace.
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Clare Lane discovered she had unknowingly signed up for a subscription with the sportswear company Fabletics after purchasing leggings in 2017, resulting in almost £5,000 in charges over seven years. While Fabletics refunded most of her money, the case highlights issues with the company's subscription model, which other customers also found unclear. Fabletics claims it informs customers about the subscription but acknowledges it's easy to cancel, and it offers store credit in return for the monthly fee.
Key Facts
Clare Lane bought two pairs of leggings from Fabletics in 2017 and unknowingly signed up for a subscription.
She was charged about £50 monthly, amounting to nearly £5,000 over seven years.
Fabletics refunded most of her money, but some customers report similar problems.
The company was co-founded by actress Kate Hudson and was set up in 2013.
Fabletics operates a "VIP" subscription service for £59.99 per month, providing store credit.
Customers reported the subscription terms were unclear, as correspondence often ended up in junk folders.
Fabletics defends its subscription model, citing its sustainability benefits.
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Many trailer parks in Miami, like the Li’l Abner Mobile Home Park, are closing as the land is sold for new developments. This shift leaves many low-income families without affordable housing options, as they can't find other places to live within their budget. The rent for regular apartments is rising quickly, making it even harder for these families to afford a new home.
Key Facts
The Li’l Abner Mobile Home Park in Miami is being closed for new development, affecting hundreds of families.
The park owners, Consolidated Real Estate Investments, are redeveloping the area into a large mixed-use project.
Residents were offered money to leave, but some refused because they had nowhere else affordable to go.
Mobile home parks are disappearing in Miami and other parts of the U.S. as the land is sold for more expensive housing projects.
Rent prices in Miami have increased by nearly 60% in the last five years, with a two-bedroom apartment averaging close to $3,000 a month.
Mobile home parks are considered more affordable but are vanishing, reducing options for low-income families.
Residents like Enrique Zelaya and Mario Leiva, who lived in Li’l Abner, are struggling with homelessness after evictions.
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The Federal Reserve made a small cut to interest rates in December 2026. The Fed plans to adjust interest rates slowly next year, depending on inflation and job market conditions. Economic forecasts suggest potential for more cuts if the economy allows.
Key Facts
The Federal Reserve reduced interest rates by 0.25% in December 2026.
Most Federal Open Market Committee members supported the rate cut.
Chairman Jerome Powell noted concerns about inflation and job market risks.
The Fed's future decisions will depend on economic conditions like inflation and employment.
Goldman Sachs predicts the Fed will slow down its rate cuts next year.
Experts suggest the Fed will adjust rates cautiously as economic conditions change.
The current U.S. inflation rate is 2.7%, which is a decrease from previous months.
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Jim Beam will stop production at its main distillery in Kentucky for one year to make improvements. The company, owned by Suntory, will keep its other operations in Kentucky running. Trade policies under President Trump have impacted distillers, contributing to uncertainty in the bourbon industry.
Key Facts
Jim Beam will pause production at its main Kentucky distillery for all of next year.
The pause is for site improvements and investment in the distillery.
Suntory Global Spirits owns Jim Beam and runs over 1,000 jobs in Kentucky.
Other operations like a separate distillery and bottling plants will continue.
Jim Beam is discussing workforce arrangements with the workers' union during the pause.
Kentucky Distillers' Association noted Kentucky has over 16 million barrels of bourbon.
Distillers face high taxes on stored barrels, costing them $75 million this year.
U.S. trade tariffs have led to import taxes on American spirits, affecting global sales.
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Israeli arms companies saw record revenues in 2024, with defense exports reaching nearly $15 billion. The majority of Israel's weapons exports went to European countries and Asia Pacific regions. This increase occurs amid allegations of war crimes against Israel in international courts.
Key Facts
Israeli arms companies made almost $15 billion in revenue in 2024.
Weapons exports increased by 13% compared to the previous year.
More than half of the weapons deliveries were to European countries.
Israeli exports also went to the Asia Pacific region, primarily to India.
Israel faced charges of genocide at the International Court of Justice.
The International Criminal Court issued arrest warrants for Israeli leaders for alleged war crimes.
Exported technology includes missiles, rockets, air-defense systems, AI, and surveillance tools.
Despite increased demand from Europe, some countries, like Spain, have limited arms imports from Israel.
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The Powerball jackpot has reached $1.6 billion for Monday night's draw, making it the fourth-largest Powerball prize ever. No ticket has won the jackpot in the last 45 drawings. Lottery tickets are sold in most U.S. states, and the odds of winning are extremely low.
Key Facts
The Powerball jackpot is now estimated at $1.6 billion.
It is the fourth-largest Powerball prize in history.
The odds of winning the Powerball jackpot are 1 in 292.2 million.
Lottery tickets cost $2 and are sold in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
The cash value of the prize, if taken as a lump sum, is about $735.3 million.
A 24 percent federal tax would reduce the prize amount further, and state taxes may apply.
This is the 46th consecutive draw without a jackpot winner.
The top Powerball prize ever was $2.04 billion in November 2022.
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Starbucks workers have blocked the company’s headquarters in Seattle as part of a strike, demanding better working conditions and pay. The workers claim the company has been unfair during union talks, and some U.S. lawmakers support their cause. Starbucks maintains they are open to negotiations and have already made some progress in discussions.
Key Facts
Starbucks workers began a strike on November 13, known as Red Cup Day.
The workers demand better staffing, higher pay, and a resolution of unfair labor practices.
The union claims Starbucks has not engaged fairly in union talks.
Lawmakers, including Representative Ro Khanna and Senator Bernie Sanders, have shown support for the strike.
Starbucks says they have reached tentative agreements on over 30 contract articles.
The union took the protest to the corporate headquarters with a sit-in planned.
Police warned protestors that they must vacate by the following Monday morning.
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