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Business news, market updates, and economic developments
The Federal Reserve reduced interest rates for the third consecutive time. The rate now ranges from 3.5% to 3.75%. There's uncertainty about whether more cuts will happen in the future.
Key Facts
The Federal Reserve is the central bank of the United States.
It cut the interest rates by 0.25 percentage points.
This is the third interest rate cut in a row.
The new interest rate range is between 3.5% and 3.75%.
There are mixed opinions within the Federal Reserve about future rate cuts.
The Federal Open Market Committee made the decision.
Interest rates influence borrowing costs for consumers and businesses.
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Toffee Crisp and Blue Riband bars, made by Nestle, can no longer be labeled as chocolate in the UK because changes in their recipes lowered cocoa and milk solids below required levels. These recipe changes, due to rising ingredient costs, have led to several products being relabeled as "chocolate-flavored."
Key Facts
Toffee Crisp and Blue Riband bars cannot be labeled as chocolate in the UK anymore.
Nestle changed recipes to use more vegetable fat due to rising ingredient costs.
UK law requires at least 20% cocoa solids and 20% milk solids in products labeled as milk chocolate.
Nestle's recipe changes are a response to increased costs for cocoa and other ingredients.
McVitie's Penguin and Club bars have also changed recipes and are now "chocolate flavor."
Rising cocoa prices were caused by poor harvests and droughts over the past three years.
The practice of altering ingredient proportions to save on costs is sometimes called "skimpflation."
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Leon, a chain of restaurants, plans to close some locations and reduce its workforce as part of a major reorganization. The company has brought in Quantuma, a firm specializing in managing financial issues, to help with this process. Leon is working to offer affected employees opportunities in stores that will remain open and has a partnership with Pret A Manger for additional job placements.
Key Facts
Leon will close some restaurants and cut jobs in a major reorganization effort.
The company has appointed Quantuma as administrators for this process.
John Vincent, Leon's co-founder, recently reacquired the company from Asda.
No specific store closures have been confirmed yet.
Leon employs around 1,000 people but hasn't said how many jobs will be lost.
The focus is on closing the restaurants that perform the worst financially.
Leon has a job placement program with Pret A Manger for affected staff.
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The U.S. stock market moved closer to its highest point ever after the Federal Reserve reduced its main interest rate. The move was expected and mainly aimed at improving the job market. Investors are curious about further rate cuts in 2026 as the Federal Reserve tries to manage economic growth and inflation.
Key Facts
The S&P 500 index increased by 0.4% and is nearing its record high from October.
The Dow Jones Industrial Average went up by 386 points, or 0.8%.
The Federal Reserve cut its main interest rate to help the job market, which was widely anticipated.
Interest rate cuts can stimulate the economy and increase investment prices but may also lead to higher inflation.
Federal Reserve officials were divided on the need for the rate cut, with two opposing it and one favoring a larger cut.
The 10-year Treasury yield dipped slightly from 4.18% to 4.16%.
Some companies, like GE Vernova and Palantir Technologies, reported gains, while GameStop experienced a drop due to lower-than-expected revenue.
Wall Street traders pay close attention to interest rate changes as they influence economic growth and investment choices.
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The Federal Reserve cut its key interest rate again, reducing it to about 3.6%, but hinted it might pause more cuts soon. This decision contrasts with President Trump’s desire for faster rate reductions. The Fed is balancing inflation concerns, slowing job growth, and a potential change in its leadership.
Key Facts
The Fed lowered the interest rate by a quarter-point to around 3.6%.
This is the third consecutive meeting where the Fed has cut rates.
President Trump wants the Fed to cut rates more sharply.
The Fed has indicated there might be just one more rate cut next year.
Inflation remains above the Fed’s target, although it has decreased from previous highs.
The job market is showing signs of slowing, with unemployment at 4.4%.
There is a split within the Fed on the pace and need for rate adjustments.
President Trump may choose a new Fed chair soon, impacting future rate decisions.
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Elon Musk discussed his involvement in the Department of Government Efficiency, saying it was only somewhat successful and caused difficulties for his businesses. He expressed that he would not repeat the experience and acknowledged challenges with transforming the government quickly.
Key Facts
Elon Musk said his work with the Department of Government Efficiency was "somewhat successful."
He would not choose to do this government work again.
Musk is the CEO of Tesla and SpaceX and owns the social media platform X.
He defended President Trump's temporary government agency, which Musk left in the spring.
The agency officially closed last month.
Musk mentioned that working on DOGE had a negative impact on his other businesses.
He found changing the federal government quickly to be difficult.
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Chancellor Rachel Reeves reported too many unauthorized leaks about the Budget before its official announcement. An investigation is underway to find the source of these leaks, which included incorrect information. The leaks have resulted in a review of Treasury processes and a cybersecurity check of IT systems.
Key Facts
Chancellor Rachel Reeves expressed concern over numerous unauthorized leaks about the Budget.
Speaker Sir Lindsay Hoyle criticized the leaks, calling it a "hokey-cokey Budget."
The Financial Times reported a leak suggesting dropped plans to increase income tax; this is under investigation.
The Office for Budget Responsibility (OBR) accidentally published the Budget details online before the official speech.
Richard Hughes, OBR chairman, resigned after the incident.
A pay-per-mile charge on electric vehicles and a tourist tax were among leaked measures.
The National Centre for Cyber Security is examining Treasury IT systems.
An inquiry led by the Cabinet Office is investigating the sources of leaks, including within various government departments.
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KFC is bringing back its Potato Wedges and Hot & Spicy Wings for a short 72-hour promotion. These popular items were previously removed from the menu, but strong customer demand led to their temporary return. KFC is using this promotion to gauge interest in making these items a permanent menu option.
Key Facts
KFC's Potato Wedges first appeared in the mid-1990s and were removed in 2020.
The wedges returned temporarily in August 2025 after strong customer demand and positive test results in Tampa, Florida.
The promotion, starting December 9, lasts for 72 hours.
Customers are encouraged to share their support on social media to influence a possible permanent return.
KFC also brought back Hot & Spicy Wings for the same promotion period.
The Wings & Wedges Promotion offers a combo for $9.99, including six wings and a side of wedges.
A larger Wings & Wedges Box is available for $20 with additional items like chicken nuggets and biscuits.
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Oreo will release two new sugar-free cookie products in the U.S. starting January. The cookies, called Oreo Zero Sugar and Oreo Double Stuff Zero Sugar, have been successful in other regions like China and Europe, leading to their launch in the U.S. This move is part of Mondelez International's strategy to offer more dietary options.
Key Facts
Oreo will introduce the Zero Sugar and Double Stuff Zero Sugar cookies in the U.S. from January.
These products are already available in China and Europe and will now be a permanent addition in the U.S.
The suggested retail price for these cookies is $5.79.
The cookies use sugar substitutes like maltitol and sucralose.
The development of these cookies took four years to match the taste of the original Oreos.
Mondelez wants to provide more choices for consumers with different lifestyle and dietary preferences.
The introduction in the U.S. follows positive feedback from previous trials.
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Dunkin' has partnered with the dog toy company BARK to release a limited-edition collection of dog toys that look like popular Dunkin' menu items. Each toy can be obtained with a $16 donation to the Joy in Childhood Foundation, which supports children facing illness and hunger. The toys are available at Dunkin' locations and online.
Key Facts
Dunkin' and BARK have a charitable partnership focused on raising money for the Joy in Childhood Foundation.
They are releasing two dog toys resembling Dunkin' menu items: Cold Brew and Chocolate Frosted Donut.
The toys are available in Dunkin' stores and online, but only while supplies last.
Each toy requires a $16 donation to the Joy in Childhood Foundation.
The foundation helps children battling illness or hunger and supports programs like Dogs for Joy.
Since their partnership began in 2020, Dunkin' and BARK have raised over $10 million for the foundation.
The Dunkin' Joy in Childhood Foundation has supported 50 facility dogs in 33 hospitals across the U.S.
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In the third quarter of 2025, U.S. credit card debt increased to $1.23 trillion, which is up by $24 billion from the previous quarter. The average credit card debt per household now exceeds $11,000. This rise in debt is happening as household incomes struggle to keep up with higher living costs.
Key Facts
U.S. credit card debt reached $1.23 trillion in the third quarter of 2025.
This is an increase of $24 billion from the previous quarter.
Average household credit card debt is more than $11,000.
Total household debt grew by $197 billion, reaching $18.6 trillion.
The average American's credit card debt was $6,523 at the end of September 2025.
The number of credit cards in use has increased by about 60 million.
Delinquency rates for payments over 90 days late rose to 2.4%.
Washington, D.C. has the highest average credit card balance at $7,684.
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Foreclosure rates in the U.S. are increasing as many homeowners struggle with high costs and economic uncertainty. According to data from ATTOM, over 35,000 properties had foreclosure filings in November, indicating ongoing challenges in the housing market. The report shows that certain states have higher foreclosure rates, and this trend has continued for several months.
Key Facts
In November, over 35,000 properties in the U.S. had foreclosure filings.
A foreclosure occurs when a homeowner cannot keep up with mortgage payments, leading to repossession by the lender.
Nationwide, 1 in every 3,992 housing units had a foreclosure filing in November.
Delaware, South Carolina, Nevada, New Jersey, and Florida had the highest foreclosure rates.
The U.S. saw 23,720 foreclosure starts in November.
Florida, Texas, and California had the most foreclosure starts.
Completed foreclosures were highest in Texas, California, and Florida.
Foreclosures in November increased by 26% compared to the previous year.
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In-N-Out Burger has removed the number "67" from its order tickets due to a viral trend causing disruptions in its restaurants. The trend, linked to a meme involving the phrase "6-7," has attracted crowds who cheer when the number is called, prompting the change. The company has not made a formal announcement about this decision.
Key Facts
In-N-Out Burger took the number "67" off its order system.
The change is due to a meme called "6-7" that is popular online.
Crowds were gathering at In-N-Out locations to hear the number "67" called.
The meme is linked to a song and has spread to schools and restaurants.
An employee confirmed the change, saying numbers go from 66 to 68.
In-N-Out has also removed the number "69" from their system.
The viral trend caused disruptions and was a challenge for the stores.
In-N-Out has not officially announced the removal of number 67.
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Newsweek has introduced a weekly feature called New & Noteworthy that highlights new products across various consumer categories. The latest issue includes items such as festive M&M's, a handheld vacuum, new flavored string cheese, and specialty toothpaste.
Key Facts
Newsweek's New & Noteworthy is a weekly feature presenting new consumer products.
The feature covers a wide range of categories including food, personal care, and household goods.
M&M's Winter Blend offers a holiday-themed candy with blue and white shells.
Haribo Ruby Hearts is a new sweet and sour candy inspired by K-pop star Jennie Ruby Jane.
TheraBreath has introduced new toothpaste varieties focused on oral health.
Frigo Cheese Heads released new flavors of string cheese in Pepper Jack and Sharp Cheddar.
A new Black+Decker handheld vacuum is available for easy cleaning in small spaces.
Dot's Pretzels introduced Buffalo Seasoned Pretzel Twists for a spicy snacking option.
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Confidence among small-business owners in the U.S. has decreased due to challenges like inflation and tariffs. Many are increasing prices while expecting lower revenue, which affects their optimism for business growth.
Key Facts
The MetLife and U.S. Chamber of Commerce Small Business Index showed a decline in confidence for the fourth quarter.
45% of small-business owners identified inflation as their biggest challenge.
58% expect to raise prices this holiday season, but 52% expect to earn less revenue.
In a separate survey, 34% of small-business owners reported raising their average selling prices, marking a significant monthly increase.
Small businesses experienced net job losses in November, with some sectors like health care seeing growth.
Tariffs have particularly affected small businesses, especially in retail and manufacturing.
A Supreme Court decision regarding tariffs and trade policies is anticipated soon.
The White House emphasized confidence in President Trump's America First agenda for future economic benefits.
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Glassdoor announced that "fatigue" is the word of the year for 2025. This selection reflects workers feeling tired and worn out due to ongoing stress in the job market. This word captures the overall mood of current workplace culture.
Key Facts
Glassdoor chose "fatigue" as the word of the year for 2025.
The choice reflects ongoing stress and tiredness felt by workers.
Mentions of "fatigue" increased by 41% on Glassdoor.
In previous years, Glassdoor's word choices were "anxiety" (2023) and "return-to-office" (2022).
Other words like "tariff" and "agentic" had higher growth but were less related to work culture.
The job market remains challenging, with both inflation and unemployment affecting workers' feelings.
Oxford and Dictionary.com chose words like "rage bait" and "6 7" for their year-end selections, which focus on different trends.
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Homeowners in several counties in Pennsylvania may see higher property taxes next year. Local governments say the increases are needed to avoid service cuts and layoffs. Pittsburgh is considering a significant increase to close budget gaps.
Key Facts
Between 2019 and 2024, property taxes rose by 30% nationwide.
Pennsylvania's average property tax is higher than the national average.
Dauphin County may raise property taxes by 15%, York County by 14%, and Lancaster County by 10%.
Delaware County is considering a 19% increase to generate $268 million to address deficits.
Pittsburgh may have a 30% tax hike, costing homeowners of $100,000 homes about $20 more monthly.
Officials cite rising costs and inflation as reasons for the proposed tax hikes.
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The Federal Reserve is likely to lower its main interest rate on Wednesday, marking the third reduction in a row. This decrease could make borrowing cheaper for things like homes and cars, but it might vary depending on market conditions. Federal Reserve Chair Jerome Powell will discuss the details and future steps at a news conference.
Key Facts
The Federal Reserve plans to cut its main interest rate, lowering it to about 3.6%.
This will be the third consecutive interest rate cut by the Fed.
Lower interest rates can reduce borrowing costs for home and car loans.
These reductions do not guarantee lower borrowing costs as they depend on market reactions.
The Fed is operating with less hiring and inflation data due to a government shutdown.
Jerome Powell's term as Chair ends in May, and President Trump will nominate a new chair.
There may be differing opinions within the Fed on future rate cuts.
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McDonald's in the Netherlands removed a Christmas ad after it faced criticism online. The ad was created using artificial intelligence (AI), which upset many people. McDonald's stated they will learn from this experience as they continue to look at using AI effectively.
Key Facts
McDonald's in the Netherlands pulled their Christmas ad due to online backlash.
The ad was generated using artificial intelligence (AI).
Some people were unhappy with the use of AI in creating the ad.
McDonald's aimed to show holiday stress in the ad but realized it upset viewers.
They acknowledged the holiday season is usually seen as a joyful time.
McDonald's stated they learned from the incident about using AI in advertising.
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India has ordered IndiGo, the country's largest airline, to reduce its flight schedule by 10% after the airline faced operational challenges, leading to over 3,000 flight cancellations. Despite this cut, IndiGo stated it has stabilized operations and will maintain service to all destinations. The airline must provide a revised flight schedule to regulators, and this reduction may impact the overall aviation situation in India, as other airlines have limited capacity.
Key Facts
IndiGo must cut 10% of its flight schedule, potentially cancelling over 200 daily flights.
The reduction follows issues with poor pilot scheduling that led to more than 3,000 flight cancellations.
IndiGo controls over 60% of India's domestic aviation market, operating more than 2,200 daily flights.
The Federal Aviation Minister said the schedule cut is to restore stability in aviation.
Other Indian airlines like Air India and SpiceJet currently lack spare capacity to absorb demand.
Aviation analysts warn that this decision may increase short-term costs for passengers.
IndiGo shares have fallen 15% since December 1 due to investor concerns over operational disruptions.
IndiGo must cap fares, expedite refunds, and improve baggage handling for affected passengers.
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