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Business news, market updates, and economic developments
A bakery and coffee shop chain named Butterwick is shutting down 12 out of its 14 locations due to higher operating costs and changes in how customers are spending. Only branches in Rushden Lakes and Northampton will stay open.
Key Facts
Butterwick is closing 12 out of 14 branches right away.
The company blamed rising costs and changes in customer spending for the closures.
Only two branches, at Rushden Lakes and Northampton, will stay open.
The company was founded by Fiona and Ryan Scarborough in Corby, Northamptonshire.
The branches that are closing were located in Northamptonshire, Leicestershire, Milton Keynes, Rugby, and Retford.
The owners expressed sadness for how this affects their team.
They plan to focus on offering an authentic bakery experience at the remaining locations.
All current orders for cakes will still be fulfilled.
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Oracle founder Larry Ellison is involved in significant business moves, including a potential media influence shift in the U.S. His ventures may affect major media companies like TikTok and CBS, aligning them potentially with conservative views due to his political affiliations.
Key Facts
Larry Ellison, Oracle founder, recently became one of the world's richest people.
He is part of a group set to take over TikTok with U.S. backing.
Ellison's son, David, merged his media company, Skydance Media, with Paramount Global.
David Ellison is reportedly interested in acquiring Warner Bros. Discovery.
Larry Ellison has a history of donating to Republican causes and has connections with Donald Trump.
Recent media moves align with a trend toward conservative influence in American media.
The article suggests past shifts in media ownership have affected the political slant of platforms.
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Gucci has introduced its new creative direction under Demna Gvasalia by revealing 38 looks as a sneak peek, with the full collection planned for 2026. The launch, called "La Famiglia," marks a new phase for Gucci, offering a fresh interpretation of the brand's identity. The early designs will be available for a short period in select stores and aim to invigorate the brand's image and revenue.
Key Facts
Demna Gvasalia is Gucci's new creative director, and previously led Balenciaga.
Gucci introduced "La Famiglia," featuring 38 looks, as a preview of its upcoming direction.
The full collection by Gvasalia will debut in 2026 during the spring and summer runways.
Gucci's Instagram account was cleared before the reveal, signaling major changes ahead.
The new designs draw on Gucci's history and feature recognizable items like the Bamboo 1947 bag.
The collection is available at ten locations, including stores in Los Angeles and New York, for less than four weeks.
This direction aims to refresh Gucci's brand image and cultural standing.
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Target has issued recalls for three products due to safety and allergen concerns. The items include Anker power banks, Goodles pasta products, and Good & Gather frozen burrito bowls. Customers should stop using these items and contact the relevant companies or Target for refunds.
Key Facts
Target recalled Anker power banks due to fire and burn hazards from overheating lithium-ion batteries.
There have been 33 reports of fire and explosion incidents with these power banks.
Anker's recall began on September 18; affected customers can get a refund or gift card.
Goodles pasta products are recalled for undeclared milk and cashew allergens.
The Goodles recall was announced on September 11 after eight allergy reports.
Good & Gather frozen burrito bowls may contain shrimp, an undeclared allergen.
The burrito bowl recall started on September 10 after three complaints.
Customers are advised to return affected products for refunds.
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The U.S. and China have proposed a deal for TikTok where the Chinese owner, ByteDance, will lease its algorithm to a new U.S.-controlled entity. The U.S. group, led by investors like Oracle, will handle American user data and retrain the algorithm. President Trump is expected to approve this deal soon.
Key Facts
TikTok's algorithm will be leased from ByteDance, the Chinese owner, to a new U.S. entity.
The deal lets ByteDance keep operating TikTok outside the U.S.
Oracle, a part of the U.S. investor group, will manage American user data.
The Chinese government has approved these terms.
Some in Congress may not agree with the leasing of the algorithm.
The U.S. government will not have a direct stake or board seat in the new TikTok entity.
President Trump will pause enforcement of a TikTok ban for 120 more days to finalize the deal.
Investors like Andreessen Horowitz, Oracle, and Silver Lake are involved, but specifics are still being finalized.
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A Reddit user discovered a luxury skirt from the brand Cult Gaia priced at $5 while shopping at Goodwill, which originally sold for $2,689. The post about the find gained significant attention online, with discussions emerging about luxury pricing and fashion ethics.
Key Facts
A Reddit post showed a luxury skirt from Cult Gaia found at Goodwill for $5.
The skirt originally retailed for $2,689.
The post was shared in the r/thriftstorehauls Reddit community by user u/sarabellproductions.
The post gained over 3,000 upvotes and many comments.
Some users praised the find, while others discussed the high retail prices of luxury items.
The discussion included topics about manufacturing ethics and the reasoning behind high market prices for luxury goods.
Despite mixed opinions, the skirt's new owner described it as feeling "textured and quality."
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Chris Wright, an Energy Secretary under Trump, discussed plans for energy infrastructure in an interview. Wright mentioned freezing offshore wind projects and called for Congress to improve the process of approving new infrastructure. He also talked about hosting nuclear waste, reforming energy project permits, and noted a preference for solar energy over wind.
Key Facts
Chris Wright is involved in Trump's energy plans, focusing on fossil fuels and infrastructure.
Offshore wind projects are being frozen but are described as a special case.
Wright supports a process to find communities willing to host nuclear waste for economic benefits.
He emphasized the need for Congress to reform the permitting process for energy projects.
Wright calls for public debate on the Department of Energy's climate report, which differs from mainstream views.
He believes solar energy has more growth potential than wind due to its advantages.
Some tax credits for wind energy are being phased out due to new budget laws.
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Netflix's CEO, Ted Sarandos, praised Meghan Markle's influence and the success of the documentary about her and Prince Harry, despite mixed reactions to her cooking show's second season. Meghan and Harry recently signed a new Netflix deal, with changes from their initial agreement. Sarandos highlighted Meghan's ability to drive sales through her shows and online store.
Key Facts
Meghan Markle and Prince Harry released a successful documentary on Netflix in December 2022.
The recent release of the second season of Meghan's cooking show did not perform as well globally.
Ted Sarandos, Netflix's CEO, praised Meghan's influence in selling products featured in her shows.
Netflix has partnered with Meghan's online store, As Ever, which sells food and wine.
Meghan and Harry signed a new deal with Netflix, which offers different terms than their initial 2020 deal.
Sarandos has previously expressed support for Meghan and her business ventures.
Products from Meghan's store have sold out quickly, but supply has now stabilized.
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Stellantis Design Chief Ralph Gilles is focusing on giving more autonomy to regional designers across the company's 14 vehicle brands. The aim is to create vehicles that are easily recognizable and true to each brand's identity, while effectively incorporating technology without over-relying on digital elements.
Key Facts
Stellantis oversees 14 vehicle brands, including Jeep, Citroën, Alfa Romeo, Peugeot, and Lancia.
Ralph Gilles serves as the Chief Design Officer for these brands, guiding their design processes.
The company promotes autonomy by allowing regional designers significant input based on local market insights.
Modern technologies, such as over-the-air updates, play a role in keeping vehicle designs updated.
Gilles emphasizes that digital technology should enhance, not define, a brand’s identity.
Design efforts focus on both interior features, like dashboard screens, and distinctive exterior lighting.
The goal is for customers to recognize a vehicle's brand just by looking at it from a distance.
Stellantis has a team dedicated to innovative lighting designs, ensuring safety and brand recognition.
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The CEO of Exelon discusses the challenges of delivering reliable and affordable energy to over 10 million customers while maintaining climate goals. Exelon plans to invest $38 billion to modernize energy infrastructure and advocates for regulated energy generation to manage rising demands and costs. Exelon introduced a $50 million Customer Relief Fund to assist customers financially and highlights the importance of transitioning to cleaner energy sources.
Key Facts
Exelon serves over 10 million gas and electric customers in the U.S.
There is a $50 million Customer Relief Fund to help customers with financial support.
Exelon plans to invest $38 billion by 2028 to update energy infrastructure.
About 70% of transmission lines are more than 25 years old and nearing their lifespan end.
Electricity demand is expected to increase by over 50% by 2050.
Regulated generation allows utilities to produce energy while following state regulations.
States that allow regulated generation saw smaller price increases compared to those that do not.
Exelon aims to invest in clean energy like wind, solar, and battery storage to align with state climate goals.
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A U.S. court is hearing a lawsuit from the Federal Trade Commission (FTC) against Amazon. The FTC accuses Amazon of making it hard for people to cancel their Prime memberships.
Key Facts
The lawsuit accuses Amazon of using tactics to make canceling Prime memberships hard.
The trial began on a Monday, although the exact date is not specified here.
The FTC is the agency bringing this case to court.
Amazon's Prime service is a subscription with various benefits that users pay for.
The complaint suggests users were tricked into staying subscribed to Prime.
This case falls under U.S. legal proceedings and involves corporate practices.
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More foreign buyers are purchasing homes in the U.S., even as fewer Americans are buying due to high mortgage rates and increasing prices. These foreign buyers often pay in cash and are less affected by high mortgage rates. The weak U.S. dollar this year made homes cheaper for foreign investors.
Key Facts
Home sales to foreign buyers totaled $56 billion through March 2025, a rise of one-third from the previous year.
Domestic home sales in the U.S. have had the worst season in over ten years.
Foreign buyers often pay in cash, with 47% of their purchases being all-cash deals, compared to 28% overall.
The U.S. dollar's value fell by 11% in the first half of the year, making homes cheaper for foreign investors.
There are now an estimated 45.6 million renter-occupied housing units in the U.S., up from 39.7 million in 2010.
Despite high mortgage rates, foreign buyers still invest in U.S. real estate, viewing it as a safe investment.
Rental prices have stabilized, but 85% of landlords raised rent prices in 2024.
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Outdoor brand Arc'teryx apologized for organizing a fireworks display in Tibet. The display caused public concern about its potential negative impact on the local ecosystem. Arc'teryx committed to evaluating the impact of the event and aligning future activities with its conservation principles.
Key Facts
Arc'teryx is an outdoor clothing brand known for conservation-focused marketing.
The brand organized a fireworks display in Tibet, designed by artist Cai Guo Qiang.
The fireworks display took place on September 19th in Tibet's Shigatse region.
There was significant online criticism about the environmental impact of the display.
Arc'teryx apologized, stating the display did not match its values.
The company said it used biodegradable materials and will assess the event's impact.
Tibet is a sensitive region, both ecologically and politically.
Arc'teryx is owned by Anta Sports and has over 150 stores worldwide.
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The demand for war risk insurance has increased due to ongoing conflicts in Ukraine and the Middle East. This type of insurance covers damages from warfare and terrorism, and it is primarily bought by companies with international operations. Most of the insurance policies are sold by specialist insurers based in London.
Key Facts
War risk insurance covers damages from warfare and terrorism.
Natalia Grishko benefited from war risk insurance when a missile damaged her apartment in Ukraine.
Ekaterina Vasylieva's car in Odesa was covered by war risk insurance after being hit by shrapnel.
The global war risk insurance market is valued at about $1 billion annually.
Approximately 80% of war risk insurance spending goes to specialist insurers in London.
Companies with operations in high-risk areas, like a large energy facility in Iraq, buy substantial war risk coverage.
Premium rates for war risk insurance range from 0.5% to 2% of the coverage value, depending on the region's stability.
An underwriter assesses the risk and calculates the insurance premium for the coverage.
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India is cutting taxes on many goods and services to encourage more spending during the festive season. Key items like insurance and life-saving drugs will no longer have taxes, and taxes on cars and everyday goods like soap are being reduced. The changes aim to boost spending and help the economy while dealing with other global trade challenges.
Key Facts
Starting Monday, many essential items in India, such as milk and bread, will be tax-free.
Taxes on small cars, TVs, and air conditioners are dropping from 28% to 18%.
Everyday products like hair oil and shampoo will have a lower tax rate of 5% instead of 12% or 18%.
These tax cuts are part of India's GST overhaul to simplify the tax system and boost spending.
The changes coincide with India's festive season, which is a major spending period.
Key consumer companies like Reliance and Mahindra & Mahindra plan to pass these savings to consumers to increase demand.
Share prices of car companies have gone up 6-17% since the tax cuts were announced.
Smaller businesses are struggling to adapt quickly to the new changes in pricing and packaging.
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President Donald Trump mentioned that Rupert Murdoch and his son Lachlan might be part of a group of investors trying to buy TikTok's US operations to ensure the app can continue operating in America. This move comes after a law passed in April 2024, which requires TikTok's Chinese owner, ByteDance, to sell its US arm to avoid a ban due to data privacy concerns. Other potential US investors include Oracle's Larry Ellison and Dell's Michael Dell.
Key Facts
President Trump said Rupert Murdoch and his son Lachlan could be involved in buying TikTok's US operations.
The deal aims to keep TikTok running in the US amid concerns about China's access to user data.
A law requiring TikTok's sale was passed due to potential data privacy risks for American users.
Other investors might include Oracle chairman Larry Ellison and Dell founder Michael Dell.
The White House press statement indicated that a deal might be close, with Oracle leading data and privacy efforts.
Fox Corp, linked to the Murdochs, might be involved rather than personal investments from them.
China has acknowledged ongoing negotiations but has not confirmed any agreement yet.
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The UK government's transport secretary has approved a plan for a second runway at London Gatwick Airport. The project aims to increase flight capacity and passenger numbers significantly over the coming years. While the plan has financial backing and is seen as a growth opportunity, it faces opposition due to environmental and local concerns.
Key Facts
The second runway project at Gatwick Airport is set to cost £2.2 billion and is privately funded.
Gatwick Airport aims to increase flights from 280,000 to approximately 389,000 by the late 2030s.
The airport estimates passenger numbers could grow to up to 80 million annually.
The Northern Runway will be shifted 12 meters to become a second active runway.
Noise controls and increased public transport use are part of the conditions for the runway's approval.
The plan includes expanding airport terminals and additional road improvements costing £350 million.
There is opposition from local groups and environmental campaigners concerned about traffic, noise, and climate impact.
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DraftKings is offering a promotion for new users where betting $5 on an NFL game earns them $200 in bonus bets and a discount on NFL Sunday Ticket. This offer is available for Week 3 NFL games and new customers aged 21 and over in eligible states. The bonus can be used immediately, regardless of the outcome of the initial bet.
Key Facts
DraftKings offers new users $200 in bonus bets when they bet $5.
A $200 discount on NFL Sunday Ticket is also included with this offer.
The promotion is available for Week 3 NFL games.
The initial $5 bet does not need to win to receive the bonus.
New customers must be at least 21 years old and located in eligible states.
The bonus is available immediately and must be used within seven days.
Additional in-app promotions include profit boosts and no-sweat touchdown bets.
Offers are valid as of September 21, 2025, based on Newsweek's confirmation.
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Rupert and Lachlan Murdoch, along with Michael Dell, are part of a group of U.S. investors interested in buying TikTok, according to President Trump. The details of the deal, such as when it will happen and the exact terms, are still not clear.
Key Facts
Rupert Murdoch, Lachlan Murdoch, and Michael Dell are potential buyers of TikTok.
President Trump mentioned these names during a TV interview.
The deal is still being negotiated, and specific details are not finalized.
TikTok is a popular social media app.
The app's sale is significant because it affects its ability to operate in the U.S.
This news is a developing story, meaning more details might come out soon.
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