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Business news, market updates, and economic developments
The article is about Lindsay Crouse, a journalist and author, who discusses her new book titled "The Case for Quitting: The Surprising Benefits of Opting Out." She talks about why quitting certain things in life can be helpful.
Key Facts
Lindsay Crouse is a journalist and author.
She wrote a new book called "The Case for Quitting: The Surprising Benefits of Opting Out."
The book explores how quitting can be a positive choice.
The interview took place on "CBS Mornings."
The discussion was available through CBS News and their app.
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A new survey shows that most Americans are worried about the number of food recalls and are less confident that recalls protect public health. Many people avoid buying certain food categories or brands after recalls, especially women, but only a small number refuse to ever buy a recalled brand again.
Key Facts
94% of U.S. adults are concerned about food recalls, up from 93% in 2025.
Confidence in the effectiveness of recalls dropped from 85% to 80%.
A salmonella outbreak linked to Mexican jalapeño peppers caused 431 illnesses across 32 states.
An outbreak of cyclospora linked to iceberg lettuce caused over 11,000 illnesses and two deaths across 20 states.
67% of adults have avoided an entire food category after a recall, up from 60% last year.
66% are hesitant to buy the same product or brand after a recall, up from 59% in 2025.
Allergen contamination caused 45.2% of recalls from 2021 to 2025; bacterial contamination accounted for 22.6%.
Total food recalls rose by 21.4% from 2021 to 2025; high-risk (Class I) recalls increased by 36.4%.
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The cost of new homes in the U.S. has dropped by about 15% compared to four years ago and is now cheaper than existing homes, which is unusual. Housing inventory is improving and almost back to pre-pandemic levels, but the supply is still not enough to meet the country’s needs, especially in high-demand areas.
Key Facts
New homes cost an average of $394,000, while existing homes cost $434,000 as of July 2026.
Normally, new homes are more expensive than existing homes, but now new homes are about 9.3% cheaper.
Builders have lowered new home prices due to slower demand and higher borrowing costs since mid-2022.
Existing home prices have increased by about 15% despite less market demand.
The U.S. has a housing shortage estimated at over 1.5 million units.
Inventory of new homes is about 488,000, equal to 9.6 months of supply, which is high compared to sales rates.
Restrictions on land use and high costs are limiting new housing construction, especially in the Northeast, Midwest, and California.
Housing construction is stronger in the Southern and Mountain West regions.
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Jaguar Land Rover (JLR) is cutting 4,000 jobs due to falling sales, increased competition, and the impact of a cyber-attack that halted production last year. The company is investing in electric vehicles but faces challenges in China and the US, including slower sales, tariffs, and high energy costs.
Key Facts
JLR’s sales in China dropped from 146,000 cars in 2017 to 62,400 in the last financial year.
Chinese carmakers backed by the government are increasing competition with advanced electric vehicles.
JLR was hit by a cyber-attack in September 2025 that stopped production and cost £1.9 billion.
In the US, JLR’s sales fell from over 120,000 cars to under 100,000, affected by tariffs and production issues.
JLR plans to partner with Stellantis to build vehicles in the US to avoid import tariffs.
Energy costs in the UK, among the highest in Europe, raise production expenses for JLR.
European carmakers like Volkswagen are also cutting jobs due to challenges in China.
Competition from Chinese brands is increasing in JLR’s home markets, such as the UK and Europe.
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John Healey, the UK’s new chancellor, said his main goal for the upcoming budget is to boost economic growth while controlling government spending. He emphasized sticking to the government’s plan to balance spending and tax income by 2029-30, and expressed a commitment to supporting jobs and regional economic development.
Key Facts
John Healey became chancellor in July and delivered his first major speech on economic plans.
He aims to support stronger growth across different parts of the UK.
Healey highlighted the need to control public spending to meet fiscal targets by 2029-30.
The UK is still dealing with financial market issues stemming from the 2022 mini budget crisis.
Healey confirmed Labour’s promise not to raise taxes on working people.
He plans to reduce welfare costs by tackling youth unemployment.
A government review on youth unemployment is expected to guide future policies.
The budget will include more powers for regional leaders over taxes and spending.
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The UK retailer Next won an appeal against a court ruling that required it to pay shop workers the same higher basic wages as warehouse staff under equal pay laws. The company argued that warehouse jobs need higher pay due to harder recruitment conditions, while the pay differences for night shifts and overtime remain under dispute.
Key Facts
Next overturned a 2024 court decision that said shop staff must get the same basic pay as warehouse workers.
The case involves more than 6,400 Next employees claiming unequal pay since 2012.
About 78% of shop staff are women, while 53% of warehouse staff are men.
Next said warehouse workers get higher pay to meet market demand and keep staff.
The appeal tribunal rejected Next’s challenge on lower night-time, overtime pay, and unpaid rest breaks for shop workers.
The tribunal also said the issue of lower Sunday pay for shop workers still needs to be decided.
Next warned the equal pay ruling could harm the business and put them at a disadvantage compared to competitors who outsource warehouse work.
The workers’ law firm plans to appeal the decision on basic pay.
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Many Americans are expected to travel on Labor Day Monday, but gas prices have gone up a lot. Higher fuel costs mean that traveling by car will be more expensive this year.
Key Facts
Labor Day Monday is a busy day for travel as many people return home.
Gas prices have increased, making travel costlier.
The rise in fuel costs affects how much people pay to drive.
Millions of Americans plan to travel during this holiday.
The information comes from CBS News reporting on Labor Day travel.
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Canada plans to start retaliatory tariffs against the United States as a response to President Trump’s tariffs on Canadian goods. The tariffs will take effect soon, and so far, there have been no new talks to resolve the dispute.
Key Facts
President Trump imposed 50% tariffs on $27.6 billion worth of Canadian products.
Canada is responding with “dollar for dollar” retaliatory tariffs of the same value.
The deadline to start Canada’s tariffs is Monday.
The dispute concerns a trade imbalance between Canada and the United States.
No new negotiations between the two countries have been reported.
The tariffs are part of growing trade tensions ahead of the U.S. midterm elections.
Big technology companies in the U.S. are reportedly opposing these tariffs.
The situation reflects increasing trade conflicts between major North American economies.
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More than 100 hours of Oasis recordings, including concerts and rehearsals, will be auctioned for up to £1.6 million. The band objects to the sale, but the recordings are being sold legally by the sound engineer’s son, who collected them during the band’s early years.
Key Facts
The archive includes 209 DAT tapes, 73 cassette tapes, and 3 MiniDiscs with recordings from 1994 to 2001.
The collection features a unique recording of Oasis’s 1996 concert at Loch Lomond, Scotland.
The recordings also contain rehearsals, soundchecks, and informal conversations between band members and crew.
The tapes are being sold by Owain Richards, son of Oasis’s former sound engineer Huw Richards.
Oasis’s management wanted the tapes returned to the band, but talks ended without an agreement.
The auction, handled by Littleton Auctions, is planned for 3 October with a guide price of £1.2 million to £1.6 million.
Oasis owns the rights to the music, so buyers cannot release the recordings commercially without the band’s permission.
The auction also includes other Oasis items, like a pair of trainers owned by Noel Gallagher.
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Grindr will pay £26 million to settle a lawsuit in the UK where users said the app shared sensitive data, including HIV status, with advertisers. The case covers events before 2020, when Grindr was owned by a Chinese company, and the settlement will compensate around 12,000 users.
Key Facts
Grindr faced a UK lawsuit for allegedly sharing users’ private information, including HIV status, with advertisers.
The settlement amount is £26 million, split into two payments by 2027.
About 12,000 users are involved, each potentially receiving around £2,167.
The lawsuit was filed by UK law firm Austen Hays in April 2024.
The data sharing occurred before early 2020, under Grindr’s previous Chinese ownership.
Grindr denies wrongdoing but acknowledges users’ concerns and the loss of trust.
Grindr changed ownership six years ago due to US national security concerns and has since improved its privacy policies.
The company says it is committed to protecting user privacy and providing a safe space for its community.
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Jaguar Land Rover (JLR) will cut about 4,000 jobs in the UK over the next two years to save money and deal with tough market conditions and other problems. These job cuts are part of a plan to help the company stay competitive and handle challenges like US tariffs and a recent cyber-attack. The UK government says it will not give money to stop the layoffs but will discuss support options with the company and unions.
Key Facts
JLR plans to reduce its UK workforce from 34,000 by around 4,000 jobs within two years.
The job cuts aim to save £1.7 billion for the company.
Challenges for JLR include strong global competition, tariffs from President Trump’s trade policies, and a cyber-attack that shut down factories last year.
The company’s CEO, PB Balaji, said the car industry faces big changes and uncertainties.
Job losses will mostly affect senior management and research and development roles, not factory floor workers.
UK Business Minister Jonathan Reynolds ruled out government bailouts to prevent the job cuts.
Reynolds will meet with union leader Sharon Graham and JLR’s CEO to discuss ways to reduce compulsory layoffs, possibly through retraining and redeployment.
Last year, the government agreed to a £1.5 billion loan guarantee for JLR to recover from the hack, but the company has not used this loan.
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Netflix has confirmed that a new Inbetweeners movie, called The Inbetweeners 3, is being made. The original main actors will return, and filming will start soon. The movie will continue the story of the characters from the popular TV show and previous movies.
Key Facts
Netflix announced The Inbetweeners 3 with the original cast returning: Simon Bird, James Buckley, Blake Harrison, and Joe Thomas.
The original TV show aired from 2008 to 2010 and followed four teenage friends at a fictional school.
Two previous Inbetweeners movies were released in 2011 and 2014.
The new movie’s production will begin on Monday.
The creators of the show, Damon Beesley and Iain Morris, will write and direct the film.
A teaser video showed the four characters in a yellow Fiat car starting their journey.
It is not yet confirmed if other actors from the series, like Emily Atack and Emily Head, will return.
The Inbetweeners series remains popular, partly because clips have been shared on social media.
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Jaguar Land Rover will cut 4,000 jobs over the next two years. The company faces challenges like competition from China, tariffs from the US, and a shift to electric vehicles.
Key Facts
Jaguar Land Rover plans to reduce its workforce by 4,000 jobs.
Most job cuts will affect office-based roles.
The job reductions will take place over the upcoming two years.
The company struggles with strong competition from Chinese carmakers.
US tariffs have made the company’s situation harder.
JLR is moving towards producing more electric vehicles, which affects jobs.
A cyber-attack last year forced the company to stop making cars for over a month.
The CEO, PB Balaji, said they will treat affected workers with care and respect.
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The U.S. Department of Agriculture is recalling about 1,513 pounds of imported ready-to-eat pork products from Italy in eight states due to possible contamination with Listeria bacteria. The recall is a Class I warning, the most serious level, but no illnesses have been reported so far. Consumers are advised not to eat the products and to discard or return them.
Key Facts
The recalled product is dry-cured pork guanciale made in Italy on May 21, 2026.
It was imported into the U.S. in July 2026 and distributed in California, Florida, Idaho, Illinois, Michigan, New Jersey, New York, and Texas.
The contamination was found during routine government testing for Listeria monocytogenes.
Listeria can cause listeriosis, a serious infection that affects older adults, pregnant women, newborns, and people with weak immune systems.
Symptoms of listeriosis include fever, muscle aches, headache, stiff neck, confusion, and balance problems.
The USDA classifies this recall as Class I, meaning the product could cause serious health problems or death.
Food service operators and retailers have been told to stop selling or serving the product.
The recall is part of a year with many food safety alerts and outbreaks of illnesses like Cyclospora and Salmonella.
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Gas prices in the U.S. are expected to reach a record high average of $4.03 per gallon this Labor Day weekend in 2026, driven by geopolitical tensions related to the war in Iran. Prices have increased steadily over the past year, causing higher costs for drivers nationwide, except in Indiana where prices remain lower.
Key Facts
The national average gas price is projected to be $4.03 per gallon on Labor Day 2026, 87 cents higher than the previous year.
This would be the highest Labor Day gas price on record in the U.S.
Current prices have risen since the conflict starting in Iran disrupted oil supplies.
California has the highest gas prices at $5.782 per gallon, followed by Hawaii and Washington with averages above $5.
Indiana has the lowest average gas price at $3.448 per gallon.
Gas prices were much lower before February 2026, at about $2.98 per gallon.
Prices have steadily increased since last year when the average was $3.19 per gallon.
The rise in gas prices is largely linked to uncertainty and supply issues tied to the war and the closure of the Strait of Hormuz.
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Many big stores like Walmart, Target, Kroger, and Trader Joe's will be open on Labor Day 2026, often with sales for shoppers. However, some stores may have shorter hours, while banks, post offices, and major package delivery services will be closed due to the federal holiday.
Key Facts
Labor Day is a federal holiday when government offices and banks are mostly closed.
Major retailers Walmart, Target, Kroger, and Trader Joe's plan to stay open, often with sale events.
Costco is one of the few large retailers that will close nationwide on Labor Day.
Store hours may vary by location, so shoppers should check before visiting.
The U.S. Postal Service and major package carriers like UPS and FedEx will suspend regular delivery and be mostly closed.
Banks will be closed, but ATMs and online banking services will still work.
Financial markets, including the New York Stock Exchange, will be closed on Labor Day.
Labor Day is often seen as the unofficial end of summer and a big weekend for retail sales on items like appliances and back-to-school supplies.
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The UK government and the Consumer Council for Water (CCW) are creating new consumer panels to help people hold water companies responsible for issues like water shortages and sewage problems. However, some campaigners criticize the plan because water companies have been involved in advising how these panels will work, which they say might limit how much power customers really get.
Key Facts
The government plans to set up “powerful consumer panels” allowing customers to question and get help from local water companies in England and Wales.
The CCW asked water companies for advice on how these panels should be set up.
Water companies have been criticized for poor service, including water outages and sewage dumping, and customers often struggle to get compensation.
Water bills are rising while investment in reservoirs is low, causing water shortages and hosepipe bans.
Complaints about water companies increased by 80% in 2025-26, but the CCW’s resources stayed the same.
Some campaigners argue that involving water companies in designing the consumer panels is a conflict of interest.
There are ongoing government discussions about taking Thames Water into public control due to financial problems, but the plan faces legal and financial hurdles.
New laws are planned to replace the current water regulator with a stronger watchdog to better supervise water companies.
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Spire Healthcare, the UK’s largest private hospital company, has agreed to a £1 billion takeover by Toscafund Asset Management, a hedge fund led by Martin Hughes. Toscafund already owned a large share of Spire and plans to invest in the company to help it grow and improve patient care.
Key Facts
Spire Healthcare runs 38 private hospitals and more than 60 clinics in England, Wales, and Scotland.
In 2025, Spire treated about 1.36 million patients.
Toscafund Asset Management offered 250p per share, valuing Spire at £1.03 billion.
Toscafund’s founder, Martin Hughes, is nicknamed “the Rottweiler” for his firm business style.
Spire had talks with other buyers earlier, but those deals did not happen.
Spire faced rising costs like national insurance and minimum wage increases.
The takeover may help Spire invest more in hospitals, technology, and patient care.
Spire’s shares rose by 3.2% in early trading after the takeover announcement.
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A charity in Coventry called Clothing Coventry helped thousands of families save money on school uniforms by giving away free second-hand and donated clothing. On average, each family saved £69, as the charity distributed over 15,000 uniform items to more than 2,700 children.
Key Facts
Clothing Coventry provides free second-hand clothes and school uniforms to families in poverty.
Families saved an average of £69 on school uniforms through the charity’s events.
The average cost of a new school uniform is about £249.58 per child.
The charity gave out 15,005 uniform items, including shirts, jumpers, blazers, and shoes.
It also provided 4,659 brand-new items to more than 2,100 children.
Some families received £30 vouchers when certain items like blazers were not available.
The program is in its fourth year and is supported by Coventry Building Society.
Clothing Coventry helps families all year, not just during summer.
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UK house prices fell by 0.4% compared to a year ago, marking the first annual drop in almost three years. Higher mortgage rates, economic uncertainty, and affordability issues have made buyers cautious, while sellers are reluctant to lower prices significantly.
Key Facts
UK house prices dropped 0.4% year-on-year, the first fall since November 2023.
The average house price in August was £298,468, down 0.2% from July.
Higher mortgage rates, around 5.6% for two-year fixed loans, have reduced buyer activity.
Mortgage approvals hit their lowest point since the start of 2024.
London and the south-east saw price falls of about 1.5% and 1.6%, respectively.
Northern Ireland had the highest price growth, up 6.9%, while Scotland and Wales also saw modest increases.
Sellers are mostly holding firm on prices, while buyers wait to see how interest rates will change.
Economic worries like inflation and geopolitical issues are affecting the housing market.
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