Business News

Cost of Living: Frightening Halloween candy costs

October 24, 2025 • NPR Business

Summary

Candy prices have increased by over eight percent compared to last year. This affects how much people spend on sweets for Halloween.

Key Facts

Candy and chewing gum prices are over eight percent higher this year.
These price increases are part of larger economic trends.
People are spending more on Halloween candy this season due to the price rise.
Federal data is the source of information about the price increase.
The price changes could affect how people celebrate Halloween.

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NPR Business

Trump terminates trade talks with Canada, citing Reagan tariffs ad

October 24, 2025 • Axios

Summary

President Trump ended trade talks with Canada due to a TV ad showing former President Reagan negatively discussing tariffs. Trump accused the ad of trying to influence a Supreme Court case about his tariffs and declared that trade negotiations with Canada are over. Canadian officials have not yet commented on the situation.

Key Facts

President Trump halted trade discussions with Canada because of a TV ad.
Trump claims the ad wrongly showed Reagan criticizing tariffs.
He believes the ad aims to interfere with a Supreme Court case related to tariffs.
Trump cited national security and economic reasons for stopping negotiations.
Canadian Prime Minister Mark Carney has not responded to requests for comment.
Carney recently announced a plan to increase Canadian exports outside the U.S.
Trump’s tariffs have led to increased tensions with major U.S. trading partners like Canada.

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Axios

Trump says trade negotiations with Canada 'terminated' over tariffs advert

October 24, 2025 • BBC Top Stories

Summary

President Donald Trump announced he is stopping all trade talks with Canada. He made this decision after Canada aired an advertisement with former President Ronald Reagan criticizing tariffs. The U.S. has placed several tariffs on Canadian imports, but some exemptions apply to items covered by a trade agreement with Mexico and Canada.

Key Facts

President Trump ended all trade negotiations with Canada.
The decision followed a Canadian ad using past President Reagan's criticism of tariffs.
A new tariff of 35% is applied to Canadian imports by the U.S.
Certain goods are exempt from these tariffs under the USMCA agreement.
Sector-specific tariffs include 50% on metals and 25% on automobiles.

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BBC Top Stories

Can the plastic recycling industry be saved?

October 23, 2025 • BBC Tech

Summary

The plastic recycling industry is experiencing extensive closures of plants in Europe and the U.S. due to factors like high costs and cheaper plastic alternatives from Asia. Many companies have halted plans to build new recycling plants, contributing to a loss in recycling capacity. Industry leaders warn that without political support, the industry could further decline.

Key Facts

Biffa closed its Sunderland recycling plant in 2023 due to challenges in the industry.
Several large recycling companies like Viridor and Veolia have shut down multiple plants across Europe.
More than one million tonnes of plastic recycling capacity in Europe has been lost since 2023.
High energy and labor costs are making it hard for European plants to compete with Asian plastic suppliers.
The U.S. is also facing similar issues, struggling to meet recycling targets due to low virgin plastic prices.
The UK exported 600,000 tonnes of plastic waste last year, partly due to regulatory loopholes.
Industry leaders are calling for political action to prevent the industry's decline.
RECOUP, a UK authority, warns that without interventions, the industry may not survive.

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BBC Tech

Jaguar Land Rover cyber attack caused UK car production to slump by a quarter

October 23, 2025 • BBC Tech

Summary

A cyber-attack on Jaguar Land Rover (JLR) stopped their factories from making cars for five weeks in September, cutting UK car production by over 27%. This event drastically reduced UK car output to its lowest September levels since 1952, causing significant financial and operational impacts. The attack affected 5,000 businesses with a total estimated economic cost of £1.9 billion.

Key Facts

JLR factories did not produce any vehicles in September due to a cyber-attack that shut down their IT systems.
UK car production dropped by 27% in September, with just over 51,000 vehicles made.
This reduction marked the lowest car output for any September since 1952.
The cyber-attack is estimated to be the most costly in UK history, with a £1.9 billion economic impact.
JLR is the second-largest car producer in the UK, directly affecting the country's overall car production.
Exports of UK vehicles also decreased by 24.5% in September.
Recovery from the attack is expected to take until January 2026.
JLR is resuming production gradually at its sites.

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BBC Tech

Alaska Airlines Grounds Flights: What We Know

October 23, 2025 • Newsweek

Summary

Alaska Airlines temporarily stopped all flights due to an IT problem. The issue also affected its regional partner, Horizon Air. Passengers were advised to check their flight status before heading to the airport.

Key Facts

Alaska Airlines cited an IT outage as the reason for the ground stop.
The issue affected both Alaska Airlines and Horizon Air.
The airline made the announcement through a social media post.
Passengers were advised to check their flight statuses.
The disruption could impact air travel on a national level because technology is essential for airline operations like check-in and scheduling.
The situation is evolving, and more updates are expected.

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Newsweek

The Briefing Room

October 23, 2025 • BBC Business

Summary

Financial experts are warning about possible shocks to the global economy. Key concerns include a potential stock market bubble in the U.S., risks from rising private loans, and President Trump's possible trade policies.

Key Facts

Financial leaders are warning of potential risks to the global economy.
The U.S. stock market has seen rapid growth, raising concerns of a bubble.
Recent bankruptcies in the U.S. highlight risks in the rise of private loans by "shadow banks."
This situation is compared to the 2007 subprime mortgage crisis.
President Trump may restart a tariff-driven trade war, which could impact the global economy.
The discussion is hosted by David Aaronovitch with input from financial experts.

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BBC Business

Trump Admin Finalizes Alaska Arctic Drilling, Renewing Environmental Debate

October 23, 2025 • Newsweek

Summary

The Trump administration finalized a decision to open Alaska's Arctic National Wildlife Refuge to oil and gas drilling. This plan, announced by U.S. Interior Secretary Doug Burgum, aims to hold lease sales and includes a separate decision to reinstate previously canceled leases. Some support the move for energy and economic reasons, while others oppose it due to environmental and cultural concerns.

Key Facts

The plan allows for oil and gas drilling in Alaska's Arctic National Wildlife Refuge.
U.S. Interior Secretary Doug Burgum announced this decision.
The decision aims to hold future lease sales in the refuge's coastal plain.
President Trump and congressional Republicans support this move.
The plan reinstates leases canceled by the previous administration.
Environmental and Indigenous groups oppose the decision due to cultural and environmental concerns.
The decision includes a plan to build a road in the Izembek National Wildlife Refuge for emergency access.
Conservation groups plan to challenge these decisions in court due to potential environmental impact.

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Newsweek

A slap in the face': Ranchers feel betrayed by Trump's plan to buy Argentine beef

October 23, 2025 • NPR National

Summary

Cattle ranchers in the United States are upset with President Trump because he plans to buy beef from Argentina. They believe this decision could harm American farmers who are already facing challenges.

Key Facts

President Trump announced a plan to buy beef from Argentina.
U.S. cattle ranchers are unhappy with this plan.
Ranchers say buying foreign beef could hurt American farmers.
The issue is causing tension between cattle ranchers and the government.
The news was reported on October 23, 2025.

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NPR National

The real trouble with the Fed's jobs data turmoil

October 23, 2025 • Axios

Summary

ADP, a company that processes payrolls, recently stopped giving the Federal Reserve access to its employment data. This has highlighted the importance of government-produced economic data in understanding the economy. With government data temporarily halted due to a shutdown, the reliance on private data sources is evident, but they come with limitations.

Key Facts

ADP stopped sharing private-sector payroll data with the Federal Reserve.
The Federal Reserve used ADP's data for detailed insights into employment trends.
ADP's decision could be linked to concerns about client relationships or business costs.
The government shutdown has limited access to official employment data.
Private companies like ADP, Bank of America, Visa, and Mastercard offer data but have their own business priorities.
Private data is often more timely but not as comprehensive as government data.
ADP manages payroll for about 20% of the private sector, making its data significant yet not fully representative of the entire economy.
Federal Reserve officials use a variety of data sources to understand economic conditions.

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Axios

Average long-term mortgage rate drops to lowest level in more than a year

October 23, 2025 • PBS NewsHour

Summary

The average rate for a 30-year U.S. mortgage has dropped to 6.19%, the lowest in over a year, providing a boost to home sales. The decline follows a trend influenced by Federal Reserve interest rate policies and market expectations. Mortgage applications have increased slightly, with many homeowners opting to refinance.

Key Facts

The 30-year average mortgage rate is now 6.19%, down from 6.27% last week.
The 15-year fixed mortgage rate dropped to 5.44% from 5.52% last week.
Mortgage rates are affected by the Federal Reserve's interest rate decisions and the 10-year Treasury yield.
Home sales have been slow but recently increased as rates fell.
The Federal Reserve plans additional rate cuts, which may reduce mortgage rates further.
Mortgage applications slightly decreased by 0.3% last week, but refinancing applications grew.
Rates for adjustable-rate mortgages, which start with lower interest, are gaining popularity.

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PBS NewsHour

What the UK inflation figures actually mean for you

October 23, 2025 • BBC Business

Summary

The article explains how recent inflation figures in the United Kingdom affect people's personal finances. It discusses what these numbers mean for everyday expenses and the economy.

Key Facts

The article discusses recent inflation figures in the UK.
Inflation refers to the rate at which prices for goods and services increase.
When inflation is high, the cost of living can go up, impacting personal finances.
The article aims to explain how these inflation figures affect daily expenses for people.
Understanding inflation helps people make informed decisions about spending and saving.

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BBC Business

EB-5 Visa Holders To Pay Reduced Fees Under DHS Proposal

October 23, 2025 • Newsweek

Summary

The Department of Homeland Security (DHS) proposed reducing fees for EB-5 visa applications, which allow foreign investors to get U.S. green cards by investing in American businesses. The proposal includes lowered application fees, a technology fee, and revised processing timelines. These changes aim to support program integrity and comply with the EB-5 Reform and Integrity Act of 2022.

Key Facts

DHS proposed lower fees for EB-5 visa applications, making it cheaper for foreign investors seeking U.S. permanent residency.
The EB-5 visa requires a foreign investor to invest at least $800,000 in a U.S. business and create 10 full-time jobs for American workers.
The proposed fee for standalone investor applications (Form I-526) will be $9,625, 14% less than the current $11,160.
The proposed fee for regional-center investor applications (Form I-526E) will be $9,530, 15% less than the current fee.
A $95 technology fee will be added for each initial application to improve IT systems.
DHS aims to process regional-center investor applications within 240 days and enterprise applications within 180 days.
The changes are part of implementing the EB-5 Reform and Integrity Act of 2022, which includes increasing investment amounts and maintaining program integrity.

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Newsweek

Social Security COLA Increase Prediction Sparks Warning From Senior Group

October 23, 2025 • Newsweek

Summary

A senior group, The Senior Citizens League, says the expected 2.7% cost-of-living adjustment (COLA) for Social Security in 2026 may not cover rising costs for seniors. They argue the formula used for the adjustment does not reflect real expenses faced by retirees and advocate for a different measure, the Consumer Price Index for the Elderly (CPI-E).

Key Facts

The Senior Citizens League predicts a 2.7% increase in Social Security COLA for 2026.
About 70 million Americans receive Social Security payments each month.
The current formula for COLA uses the Consumer Price Index for Urban Wage Earners (CPI-W).
The CPI-W may not accurately reflect seniors' spending, as it is based on urban workers' expenses.
The Senior Citizens League proposes switching to the Consumer Price Index for the Elderly (CPI-E).
CPI-E is thought to better capture costs like healthcare, which impact seniors more significantly.
Financial experts agree that the current COLA does not fully keep up with inflation.
Changes in the COLA formula could mean more social security payments for retirees.

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Newsweek

Chinese Citizens Eye South Florida Property Market

October 23, 2025 • Newsweek

Summary

Chinese and Singaporean buyers are showing significant interest in purchasing real estate in South Florida, according to data from the Miami Association of Realtors. Despite restrictions like Florida's pending ban on certain property purchases by Chinese nationals, the demand remains high, impacting the local housing market.

Key Facts

Chinese and Singaporean buyers ranked as the top two international groups interested in South Florida real estate.
Florida is a hotspot for international property buyers, with 21% of U.S. international real estate purchases occurring there.
Miami is a particularly popular market within Florida, attracting half of the state's international real estate purchases.
Chinese interest persists despite a pending Florida law that could restrict property purchases by Chinese nationals without permanent U.S. residency.
The ban, SB 264, is temporarily halted due to legal challenges.
Foreign buyers, including those from China, account for nearly half of new construction and condo conversion sales in South Florida over 18 months.
President Trump signed an order for a "Gold Card" investor visa offering residency for a $1 million investment, which may benefit South Florida's real estate market.

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Newsweek

USA Health Names Natalie Fox CEO

October 23, 2025 • Newsweek

Summary

Natalie Fox is appointed as the new CEO of USA Health, after serving as the interim CEO following the retirement of Owen Bailey. USA Health is a health system affiliated with the University of South Alabama and employs over 7,200 staff, including 180 academic physicians.

Key Facts

Natalie Fox is the new CEO of USA Health, a health system at the University of South Alabama.
Fox took over as interim CEO after Owen Bailey retired on August 1.
She has been with USA Health since 2011, previously serving as chief nursing officer and chief physician enterprise officer.
USA Health employs more than 7,200 people, including 180 academic physicians.
Fox played a key role in USA Health’s pandemic response, notably in testing and vaccination partnerships.
She holds bachelor’s, master’s, and doctoral degrees in nursing from the University of South Alabama.
Fox was appointed to Alabama’s Certificate of Need Review Board in 2023.
USA Health recently acquired Providence Health as part of its growth strategy.

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Newsweek

Walmart’s Thanksgiving Meal Returns — Serving 10 For Under $40

October 23, 2025 • Newsweek

Summary

Walmart is offering a special Thanksgiving meal basket that can serve 10 people for under $40. This offer aims to help families by providing a more affordable option during times of rising grocery prices. The basket can be purchased online or in-store until December 26.

Key Facts

Walmart's Thanksgiving meal basket serves up to 10 people for less than $4 per person.
The meal basket includes more than 20 traditional Thanksgiving items.
Items in the basket feature well-known brands like Butterball Turkey and Stove Top Stuffing.
The meal basket is Walmart’s most affordable Thanksgiving offer since it started in 2022.
It is available for purchase online or in-store, with some regional exclusions, until December 26.
Walmart also offers meal baskets for different dietary needs, such as gluten-free options.
The offer is part of Walmart’s efforts to help families save money during the holiday season.
Other retailers, like Aldi, are also offering competitive meal deals.

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Newsweek

Waitrose-rejected autistic worker gets Asda offer

October 23, 2025 • BBC Top Stories

Summary

An autistic man, Tom Boyd, who stopped volunteering at a Waitrose store after his work placement ended, has been offered a paid job by Asda. Tom had volunteered at Waitrose for four years, and his experience was shared widely, leading to the job offer from Asda.

Key Facts

Tom Boyd is 28 years old and has autism.
He volunteered at a Waitrose store in Cheadle Hulme, Greater Manchester, for four years.
Tom's volunteering was part of a skills development program, and he worked with a support worker.
Waitrose ended his placement when his mother asked if Tom could have paid hours.
Asda offered Tom two five-hour paid shifts each week.
Greater Manchester's mayor, Andy Burnham, supported Tom and called for inclusive employment practices.
Waitrose is investigating the situation and works with charities for work experience placements.

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BBC Top Stories

U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

October 23, 2025 • PBS NewsHour

Summary

The U.S. government's national debt has reached $38 trillion as of Wednesday, which is a record amount. This figure was reached quickly, outside of the rapid debt increase seen during the COVID-19 pandemic. The rising national debt may lead to higher inflation and increased borrowing costs.

Key Facts

The U.S. government's debt is now over $38 trillion.
The debt hit $37 trillion just last month, August 2024.
During President Trump's first eight months of his current term, the deficit decreased by $350 billion compared to the same period last year.
Rising national debt can lead to higher inflation and increased borrowing costs for Americans.
The national debt has been increasing at a rate of $69,713.82 per second in the past year.
Interest on debt spending may grow to $14 trillion in the next decade according to projections.
The Trump administration claims its policies are slowing government spending.

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PBS NewsHour

Dubai Style Chocolate Recall Sparks Consumer Risk Warning

October 23, 2025 • Newsweek

Summary

The U.S. Food and Drug Administration (FDA) has issued a recall of Dubai Style Chocolate made by Rolling Pin Baking Company LLC due to undeclared wheat on the label. This recall is classified as Class II, indicating the product could cause temporary health issues for people with wheat allergies. As of October 22, no illnesses have been reported.

Key Facts

The recall involves Dubai Style Chocolate made by Rolling Pin Baking Company LLC.
The recall was issued because the product label did not declare wheat, a major allergen.
The FDA classified this as a Class II recall, meaning it could cause temporary or reversible health problems.
Wheat allergies can cause reactions ranging from mild (like hives) to severe and life-threatening (like anaphylaxis).
The chocolates were distributed in several states including California, Florida, and Georgia between May 1 and August 29.
No illnesses from consuming the chocolates have been reported so far.
Consumers with a wheat allergy should avoid eating the recalled chocolates.

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Newsweek

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