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The 2026 State Tax Competitiveness Index by the Tax Foundation ranks U.S. states based on their tax systems, highlighting which states have the most business-friendly structures. Wyoming ranks highest due to not having individual or corporate income taxes, whereas New York ranks lowest for having high tax rates.
Key Facts
The Tax Foundation released its 2026 State Tax Competitiveness Index.
The index evaluates state tax systems based on over 150 variables, including corporate and income taxes.
Wyoming ranks highest because it has no individual or corporate income taxes.
New York ranks lowest due to high rates of individual and corporate income taxes.
The index does not account for public service quality funded by taxes.
The report is designed as a tool for policymakers to compare tax burdens among states.
South Dakota also ranks highly, like Wyoming, for not having income taxes.
The lowest-ranking states include New York, New Jersey, and California, which have complex and high-rate tax systems.
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Waterstones' boss, James Daunt, says the bookstore would sell books created by artificial intelligence (AI) if customers want them and they are clearly marked as AI-generated. The publishing industry is currently debating the impact of AI on writers. Waterstones relies on AI for logistics but aims to keep AI-created content limited in-store.
Key Facts
Waterstones would consider selling AI-generated books if customers are interested and the books are labeled as such.
There is a growing discussion in the publishing world about AI's impact on authors’ jobs.
Waterstones uses AI for logistics but avoids stocking AI-generated content when possible.
The company's strength comes from giving local store managers control over their inventory and displays.
A report showed that over half of authors are worried about being replaced by AI.
Waterstones' strategy includes offering individual recommendations by staff and resisting publisher influence on store displays.
CEO James Daunt also leads Barnes and Noble, indicating a potential public stock offering for these companies in the future.
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Jonathan Armstrong, a sub-postmaster affected by the faulty Horizon accounting software used by the Post Office, died at 58 without receiving the full compensation promised for the errors. His widow, Sarah Armstrong, believes his health suffered due to the prolonged stress and is considering further action against the Post Office. The government is working to resolve these compensation cases as quickly as possible.
Key Facts
Jonathan Armstrong, a sub-postmaster, passed away before getting full compensation for issues caused by faulty Post Office software.
Armstrong was wrongly accused of theft due to problems with the Horizon IT system, which harmed his health.
His wife, Sarah, claims the stress of the situation contributed to his death and is considering legal action.
The Post Office has apologized for Armstrong's death, and the government aims to resolve compensation cases quickly.
Armstrong experienced severe stress, including an incident in 2014 where he tried to take his own life when auditors visited his post office.
Many other sub-postmasters have also faced severe consequences, with over 13 reportedly taking their own lives due to the scandal.
The Armstrong family had a successful Post Office business until the software issues began, which led to financial and personal hardships.
Armstrong's compensation claim process was lengthy and unresolved at the time of his death.
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American Eagle raised its sales expectations for the fourth quarter, anticipating growth of 8 to 9 percent. This change comes after a jeans advertisement featuring actress Sydney Sweeney attracted widespread attention. The company's CEO noted improvements across various areas, including marketing and operations, which helped boost sales.
Key Facts
American Eagle expects fourth-quarter sales to grow by 8 to 9 percent.
The boost in sales outlook follows a controversial ad featuring actress Sydney Sweeney.
The ad sparked debate due to its play on words involving "jeans" and "genes."
American Eagle's operating income projection increased to $155 million to $160 million.
The company's stock has risen by 136 percent over the last six months.
American Eagle's brand Aerie saw comparable sales grow by 11 percent.
Aerie received positive attention for not using artificial intelligence in its products.
CEO Jay Schottenstein emphasized that the ad campaign increased brand awareness.
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The government plans to introduce a new rule in 2027 allowing workers to claim unfair dismissal after six months of employment, shorter than the current two-year period. This change comes after discussions with business groups and unions, who expressed concerns about the initial proposals. Additionally, the government intends to remove current limits on compensation for unfair dismissal cases.
Key Facts
The unfair dismissal claim period will change to six months of employment starting January 2027.
Initially, there were plans to allow claims from day one on the job, which faced pushback from businesses.
The current period to claim unfair dismissal is after two years with a company.
Compensation limits for unfair dismissal cases will be removed, aligning with certain other types of dismissal claims.
The proposed change follows discussions between the government, business groups, and unions.
Plans for new day-one rights for sick pay and paternity leave are set for April 2026.
The changes are part of a broader employment rights bill being discussed in Parliament.
Some MPs and labor groups oppose the delay in implementing the original, more immediate protections.
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The U.S. Treasury Department fined a New York property management firm $7.1 million for managing properties linked to Russian billionaire Oleg Deripaska, despite sanctions against him. The firm, Gracetown Inc., handled payments for Deripaska's properties after being warned that such actions were against federal rules.
Key Facts
The U.S. Treasury fined Gracetown Inc. $7.1 million.
Gracetown managed properties for Oleg Deripaska, a Russian billionaire.
Deripaska has been under U.S. sanctions since 2018.
The company made 24 payments amounting to $31,250 from 2018 to 2020.
Gracetown continued business with Deripaska after being warned.
Oleg Deripaska has connections with Russian President Vladimir Putin.
The sanctions prevent U.S. companies from dealing with Deripaska.
Gracetown managed luxury properties in New York and Washington, D.C.
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Pensioners living in two tower blocks in Bloxwich, Walsall, saw a sharp increase in their heating and hot water bills as charges nearly quadrupled. The housing provider, Walsall Housing Group, stated it could no longer afford to keep energy rates low and has adjusted prices to reflect the full cost. Residents expressed difficulty managing the new costs.
Key Facts
Pensioners in Woodall and Hamilton House experienced a sharp increase in energy bills.
Prices rose from 4p per kWh to 13.75p at Woodall House and to 17.67p at Hamilton House.
The landlord, Walsall Housing Group, said it can't subsidize low rates anymore.
Individual gas boilers were removed for safety in 2021, and a central heating system was installed.
Residents at Woodall and Hamilton House now pay less than the national average but more than before.
The average energy cost in the UK is 6.29p per kWh for gas and 26.35p per kWh for electricity.
A director at WHG mentioned the firm has been subsidizing the costs for several years.
The housing group offers support to customers struggling with the increased costs.
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Southwest Airlines will change its policy for plus-size passengers starting January 27, 2026. Passengers needing extra seats will only get refunds for additional seats if certain conditions are met. The airline will also switch from open seating to assigned seating and has already started charging for checked baggage.
Key Facts
Southwest Airlines will require plus-size passengers to buy extra seats if they cannot fit in one seat.
Refunds for extra seats will be available only if the flight is not full, both seats are the same fare, and a refund is requested within 90 days.
This change will start on January 27, 2026.
Southwest will also begin assigned seating on the same date.
The airline ended its "Bags Fly Free" policy and now charges baggage fees.
Other airlines like American, United, Spirit, and Frontier already have similar seating policies.
The new policy could impact Southwest's reputation with plus-size travelers.
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Activity in the UK's construction sector decreased sharply in November, at the fastest rate since the pandemic began. This was due to uncertainty about budget measures, which affected new projects, especially in infrastructure and housebuilding.
Key Facts
The UK's construction sector shrank significantly in November.
This is the fastest decrease since the pandemic started.
Infrastructure and housebuilding were the most affected areas.
Commercial construction also faced challenges due to budget concerns.
The Purchasing Managers' Index (PMI) for construction dropped from 44.1 in October to 39.4 in November; a score below 50 means the sector is contracting.
Employment in construction fell for 11 consecutive months.
Analysts suggest some of the negative survey results might be due to budget-related worries.
Some expect construction activity might improve after the budget details are clearer.
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Treasury Secretary Scott Bessent outlined a backup plan to maintain tariffs if the Supreme Court rules against using emergency powers for imposing them. The plan involves using alternative legal measures to recreate the tariff structure. A Supreme Court decision on this matter is expected soon, which could significantly impact U.S. trade policy.
Key Facts
Treasury Secretary Scott Bessent proposed a "Plan B" for tariffs in case the Supreme Court limits current legal authority.
The Supreme Court is reviewing the validity of using emergency powers for imposing tariffs.
Bessent suggested using other legal tools like Section 301, 232, and 122 to continue tariffs.
Section 301 allows tariffs against unfair foreign trade practices.
Section 232 permits tariffs for national security reasons.
Section 122 allows temporary tariffs due to financial imbalances.
Bessent mentioned the fentanyl crisis as a valid emergency for using these powers.
A court ruling on the matter may soon affect how the U.S. negotiates trade with other countries.
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Applications for unemployment benefits in the U.S. dropped to 191,000, the lowest since September 2022. This decline in claims may influence the Federal Reserve's decision on interest rates.
Key Facts
U.S. jobless benefit applications fell to 191,000 for the week ending November 29.
This is the lowest level of claims since September 24, 2022, when they were 189,000.
The previous week's claims were at 218,000.
Analysts had expected claims of 221,000 according to FactSet data.
Unemployment claims are used to estimate layoffs and the job market's health.
Job reductions announced by companies like UPS and Amazon may take time to show in the data.
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Dollar Tree's sales have increased significantly, with many new customers coming from higher-income households. The company reported that its net sales for the third quarter rose by 9.4% compared to last year, and it plans to continue attracting wealthier shoppers.
Key Facts
Dollar Tree's net sales increased by 9.4% to $4.7 billion in the third quarter.
Gross profit went up by 10.8% to $1.7 billion during the same period.
Approximately three million more households shopped at Dollar Tree in the third quarter compared to last year.
Around 60% of new customers earn more than $100,000 annually.
Same-store net sales increased by 4.2% compared to the previous year.
Year-to-date results showed an 11% rise in net sales to $13.9 billion.
The company expects fourth-quarter sales to be between $5.4 billion and $5.5 billion.
Dollar Tree aims to inspire loyalty among its higher-income customers.
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Americans might be able to save money on mortgages by purchasing new homes because prices for new builds are similar to existing homes. Builders are offering incentives like lower mortgage rates to make new homes more appealing. This shift could change how people buy homes in the future.
Key Facts
New home prices are now closer to existing home prices than before.
Builders are offering incentives, reducing mortgage rates by nearly one percentage point.
The average mortgage rate for new homes is 5.27%, whereas for existing homes it's 6.26%.
Down payments required for new homes are lower, averaging 15.7% compared to 17.8% for existing homes.
The median listing price for new homes in the third quarter was $451,337, slightly up from last year.
Existing-home prices are also increasing, with a median price of $409,667.
Builders are adapting to market conditions and offering deals to make new homes more affordable.
Some economists warn that lower down payments mean buyers could risk losing money if home values drop.
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A report by Placer.ai showed that many U.S. retailers experienced increased foot traffic during the Black Friday to Cyber Monday shopping period. Retailers like Sam’s Club, Lowe’s, and Bath & Body Works saw significant customer growth. The report also noted that most of the spending increase appeared to be influenced by inflation.
Key Facts
Foot traffic in stores increased by 2.7% compared to the previous year.
Thrift stores saw the highest traffic increase at 12.2%.
Lowe’s and Sam’s Club experienced a 9.7% rise in visits.
Discount store Ollie’s Bargain Outlet had a 16.6% increase in customer visits.
Department store traffic fell by 0.1%, although Gap and Bloomingdale’s saw increases.
Bath & Body Works had a 23.7% rise in customer visits.
Online sales over the Thanksgiving weekend totaled $44.2 billion, a 7.7% increase from last year.
Experts suggest that the sales increase is more due to inflation rather than a stronger economy.
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Several high-ranking officials left the Food and Drug Administration (FDA), causing concerns about delays in drug approvals and the stability of the agency. Richard Pazdur, a noted oncologist who recently led the FDA's drug center, unexpectedly stepped down, sparking debate about the agency's future. Industry leaders and former FDA commissioners fear that political interference could affect drug review processes and America's biotech leadership.
Key Facts
A high-level FDA official, Richard Pazdur, resigned soon after taking charge of the drug center.
The FDA has seen four different directors for its drug center this year.
Concerns have been raised that these changes might slow down drug approval processes.
Health Secretary Robert F. Kennedy Jr. met with Pazdur to acknowledge his work.
John Crowley, CEO of a biotech group, warned that the FDA's instability might benefit international competitors like China.
Twelve former FDA commissioners shared their worries about the agency's current situation in a medical journal.
The departures are linked to claims of political appointees excluding career scientists from discussions.
Some say a new expedited drug review program lacks clear guidelines and legal authority.
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Dreyer's Grand Ice Cream, Inc. has recalled certain Haagen-Dazs ice cream bars in the U.S. because they might contain wheat, which wasn't listed on the packaging. This recall affects specific batches sold at Kroger and Giant Eagle stores in several states, and the FDA has classified it as a Class II recall. Consumers who have wheat allergies or sensitivities are advised not to eat these products.
Key Facts
The recall involves Haagen-Dazs Chocolate Dark Chocolate Mini Bars, specifically those in six-packs with code LLA519501.
The "Best By" date for the affected products is January 31, 2027.
The recall was announced on November 3, with the FDA notice following on November 4.
The ice cream bars were mistakenly packaged incorrectly, leading to undeclared wheat.
These products were distributed in various states across Kroger and Giant Eagle stores.
The recall is designed to prevent temporary or reversible health effects in those with wheat allergies.
Consumers can get a refund or dispose of the products and contact Dreyer's for more information.
Ongoing investigations are underway to understand the root cause of the packaging error.
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Amazon is considering ending its delivery partnership with the U.S. Postal Service (USPS) to expand its own delivery network across the U.S. This change could significantly impact the logistics industry and USPS, which depends heavily on Amazon for revenue.
Key Facts
Amazon might stop using USPS for delivering packages, particularly the last-mile delivery.
USPS currently handles millions of Amazon packages, generating over $6 billion annually for USPS.
If Amazon ends the partnership, USPS could face financial challenges.
Amazon plans to increase its delivery capabilities to cover the entire U.S., especially in remote areas.
Negotiations between Amazon and USPS about renewing their contract have not progressed.
Amazon confirmed that its relationship with USPS is still in place, but they are exploring options for reliable deliveries.
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Several major clothing and department stores in the U.S. plan to shut down many of their locations in 2025. These closures are due to high costs, competition from online shopping, and changes in customer shopping habits.
Key Facts
Macy's will close 66 stores in 2025 as part of a three-year plan.
An estimated 15,000 retail stores may close across the U.S. in 2025.
Rising costs, online competition, and changing shopper habits are key reasons for these shutdowns.
Forever 21 filed for bankruptcy and plans to close its 354 U.S. stores.
Joann Fabrics is closing around 500 stores, following a second bankruptcy filing.
Torrid will close up to 180 of its underperforming stores.
Claire’s is closing over 291 stores as part of bankruptcy proceedings.
Kohl’s plans to close 27 underperforming stores by April 2025.
Big Lots will close 545 stores to address its debt and sales drop.
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Small businesses in the U.S. are facing economic challenges, despite growth in other areas like artificial intelligence. Recent reports show that job losses in small companies are increasing while bigger companies continue to grow, highlighting a divide in economic outcomes. This situation poses a challenge to President Trump's economic plans, which focus on revitalizing small businesses.
Key Facts
Small businesses in the U.S. lost 120,000 jobs in November.
The private sector overall lost 32,000 jobs last month, with small companies accounting for nearly all the losses.
More small businesses are filing for bankruptcy under a special federal program than ever before.
Subchapter V bankruptcy filings for small businesses are up 8% from last year.
Larger companies are better able to handle economic challenges, such as tariffs and high interest rates.
President Trump's administration does not believe tariffs are the cause of job cuts in small businesses.
The hiring gap between small and large businesses is increasing, impacting overall job growth.
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Realtor.com predicts that house prices are likely to fall in 22 of the 100 largest U.S. cities in 2026, particularly in the South and West regions. High home prices, along with elevated mortgage rates and other costs, have kept the homeownership rate stable at around 65% in recent years. Despite an expected national price increase of 2.2% in 2026, certain metropolitan areas anticipate declines, with Florida seeing some of the steepest drops.
Key Facts
Realtor.com predicts house prices will fall next year in 22 major U.S. cities.
Most of these cities are in the South and West, with several in Florida.
In October 2023, the median home sale price was $439,869, up 1.3% from the previous year.
The U.S. homeownership rate was at 65% in the second quarter of 2025, the lowest since 2019.
Realtor.com expects national home prices to rise by 2.2% in 2026.
Florida's Cape Coral-Fort Myers area faces the biggest expected drop, with prices possibly falling by 10.2%.
Other cities with expected price declines include Raleigh, North Carolina, and Denver-Aurora-Lakewood, Colorado.
Areas in Florida faced high demand during the pandemic, but increased construction has now led to more available homes, lowering prices.
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