Tunisia’s boat-building industry has grown strongly since 2024, despite a slow overall economy. The country has attracted many foreign factories and now produces a wide range of boats, from small pleasure crafts to luxury yachts.
Key Facts
The boating season in Tunisia continues even as summer ends.
The boat industry in Tunisia has been quietly expanding in recent years.
In 2024, the boat sector was reorganized by forming a trade association.
This reorganization helped bring in foreign factories to Tunisia.
Tunisia has become a center for building different types of boats.
The industry includes both simple boats for fun and complex luxury yachts.
The growth occurs amid a generally slow economic situation in Tunisia.
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The article says that fruits and vegetables are very good for health and should be easier to buy using health savings accounts (HSAs) and flexible spending accounts (FSAs). These accounts help people save money on health expenses, but currently they don’t always cover healthy food.
Key Facts
Fruits and vegetables help improve health.
They can act like medicine to prevent illness.
Health savings accounts (HSAs) and flexible spending accounts (FSAs) let people save money tax-free for health costs.
Currently, HSAs and FSAs do not fully cover healthy foods like fruits and vegetables.
Making healthy food eligible could help people afford better nutrition and improve health.
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Steven Kolb, CEO of the Council of Fashion Designers of America (CFDA), resigned after being filmed physically restraining animal rights activists at New York Fashion Week. The activists were protesting H&M's use of wool, and Kolb was placed on leave before deciding to step down.
Key Facts
Steven Kolb had led the CFDA for 20 years, including 15 years as CEO.
Kolb physically restrained two PETA protesters during a COS show at New York Fashion Week.
The protesters opposed the use of wool by H&M, the parent company of COS.
Kolb pushed one protester and covered his mouth, and wrestled another to the ground.
PETA called the incident unfortunate and criticized H&M for not addressing animal cruelty.
The CFDA board thanked Kolb for his leadership and said the organization is ready to continue its mission.
PETA held a similar protest at London Fashion Week, targeting H&M’s use of wool.
The CFDA has not yet named a replacement CEO.
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Nearly 70 students in Dundee had to find new homes quickly after the company owning Marketgait Apartments, a student housing block, went bankrupt. The company could not repay a £5.7 million loan and closed the building due to financial problems and required fire safety work.
Key Facts
Marketgait Apartments in Dundee housed 68 students before closing in mid-July.
The owner company, backed by real estate manager 90 North and Kuwaiti investor Rasameel, failed to repay a £5.7 million loan.
The building remains closed while the new owner fixes fire safety issues.
The housing collapse adds to a wider crisis in the UK student housing sector caused by fewer international students and rising costs.
Domestic student numbers are high but many choose to live at home due to expensive rents.
Marketgait Apartments was promoted as recently as late June, shortly before going into administration.
Students who had leases for the academic year were told they had to move out within a month, causing stress and disruption.
Housing activists note that many international students had difficulty handling the move from abroad.
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Jim Ratcliffe, co-owner of Manchester United and founder of Ineos, said the UK is in decline due to high taxes and immigration. He expressed concern about the country’s economy, energy supply, and leadership, and said he is not planning to return to the UK soon.
Key Facts
Jim Ratcliffe described the UK as "on the slide" from its past as a great empire.
He attributes the UK’s decline to high taxes and increased immigration.
Ratcliffe lives in Monaco, a country known for low taxes, since 2020.
He criticized recent UK government decisions on not investing in new North Sea oil and gas licences.
Ratcliffe warned the UK could run out of gas during a cold winter due to energy supply risks.
The UK government said it is confident in its energy supply and working to promote economic growth.
Ratcliffe has faced criticism from Manchester United fans over ticket price increases and staff cuts.
He said the UK needs strong politicians who make decisions for the country’s good, not for political parties.
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Heating costs in the United States are expected to rise sharply this winter, with prices increasing much faster than general inflation. The rise is mostly caused by a major oil shortage linked to the conflict between the U.S., Israel, and Iran, which has pushed oil prices and heating fuel costs higher.
Key Facts
U.S. households will spend about $1,030 on heating this winter, which is 8.7% more than last year.
Heating oil costs, especially in the Northeast, will increase by an average of 31.3%.
Natural gas heating prices are expected to rise by 5.8%.
The oil shortage started after a U.S.-Israeli attack on Iran and Iran’s near closure of the Strait of Hormuz, a key route for global oil supply.
Global oil prices have risen to about $103 per barrel, nearly 50% higher than before the conflict.
Diesel prices have reached a record high, and gasoline costs average $4.46 per gallon.
In Maine, heating oil costs are 74% higher than last year, making it very expensive to fill a standard heating oil tank.
Low-income families are struggling to pay higher fuel bills and are seeking help through a federal program that provides $4 billion annually for heating assistance.
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Germany will lower taxes on gasoline and diesel by about 17 cents per litre starting in October to help drivers with rising fuel costs. This includes cuts to both the energy tax and sales tax, following pressure from high oil prices and upcoming elections.
Key Facts
Germany will reduce gasoline and diesel taxes by €0.17 per litre from October.
The cut includes €0.14 from the energy tax and €0.03 from the sales tax.
Fuel prices recently reached over €2.28 per litre, a record high.
High oil prices are partly caused by ongoing conflict in Iran, pushing crude oil above $100 per barrel.
Chancellor Friedrich Merz promised to ease fuel costs amid falling approval ratings.
Elections in Berlin and Mecklenburg-Western Pomerania soon may impact Merz's conservative party.
Previously, Germany lowered the energy tax from May to June, temporarily reducing fuel prices by a similar amount.
Berlin is also considering a fuel price cap linked to oil prices, with discussions ongoing.
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Harrods is trying to get back the money it paid in compensation to women who say they were sexually abused by Mohamed Al Fayed from his estate. The store has accepted responsibility for the abuse but wants the estate to cover all the compensation costs.
Key Facts
Harrods is seeking full repayment from Mohamed Al Fayed’s estate for compensation paid to abuse survivors.
The estate belongs to Mohamed Al Fayed, who died in 2023 at age 94.
Allegations against Fayed include rape, sexual assault, sexual exploitation, and human trafficking from 1977 to 2014.
Harrods has accepted “vicarious liability,” meaning it recognizes responsibility for abuse by someone connected to the store.
The compensation claims could reach up to £150 million, involving 275 survivors represented by KP Law.
Harrods created its own compensation scheme, paying out £4.1 million to 113 women by 2025.
Survivors and their lawyers have expressed concern that Harrods’ effort to recover money from the estate conflicts with its public statements on responsibility.
A court hearing will take place in November regarding the appointment of special executors to manage Fayed’s estate and ensure compensation payments.
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The Resolution Foundation warns that over 1.1 million low-income families renting homes in England are facing a gap between housing support and rising rents. They urge the government to adjust the Local Housing Allowance (LHA) to match current rent prices to help families afford housing, especially with a budget decision coming soon.
Key Facts
More than 1.1 million low-income families in rented homes struggle to cover rent costs.
Local Housing Allowance (LHA) has been kept the same in cash terms since autumn 2024, despite rent increases.
The average weekly rent shortfall for a two-bedroom flat is £158, and over £300 in some parts of London.
The Resolution Foundation says that most of the benefits of raising LHA go to tenants, not landlords.
They recommend restoring an automatic yearly link between LHA rates and local rents to reduce costs for tenants.
Changing LHA to match rents would cost £2 billion per year by 2029-30.
The foundation suggests funding this by adjusting universal credit rules, helping those who need it most.
The UK government plans to announce its budget on October 28; housing support decisions will be part of it.
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Saratoga Potato Chips LLC is recalling certain J. HIGGS bacon and cheddar potato chips sold at Save A Lot stores in five states because they may contain soy, which is not listed on the label. No injuries have been reported, and customers allergic to soy can return the product for a refund.
Key Facts
The recall is for J. HIGGS loaded bacon and cheddar potato chips with best-by dates of December 11 and 18, 2026.
These chips were sold at Save A Lot stores in Indiana, Kentucky, Tennessee, Ohio, and Maryland.
The chips may contain undeclared soy, which can cause serious allergic reactions for some people.
No illnesses or injuries linked to these chips have been reported so far.
Customers can return the recalled chips to the store for a full refund.
The FDA identified the problem during a company review, and they warned customers about symptoms of severe allergic reactions.
Other recent food recalls in the U.S. have involved contamination or undeclared allergens, highlighting ongoing food safety concerns.
The FDA lists nine major food allergens, including soy, which must be clearly labeled.
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Airlines are reducing the number of flights because the cost of jet fuel has increased a lot. This change affects passengers who might face flight cancellations or delays.
Key Facts
Jet fuel prices have gone up significantly.
Higher fuel costs are causing airlines to cut some flights.
Passengers may experience more flight cancellations.
Certain flights might be more likely to be canceled than others.
Airlines are adjusting schedules to manage rising expenses.
This situation impacts travelers planning trips in the near future.
The adjustments are taking place amid ongoing changes in the travel industry.
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Uber was ordered to pay $40 million to the parents of a woman who died after a driver forced her off the freeway. An arbitrator ruled that Uber is responsible for the driver’s actions, rejecting Uber’s claim that it is just a platform connecting riders to independent drivers.
Key Facts
A 23-year-old woman named Emily Normandin-Parker died after being kicked out of an Uber on a California freeway.
The driver stopped the car because she vomited, then asked for a cleaning fee, leading to an argument.
After getting out, Emily walked into oncoming traffic and was hit by a car.
The arbitrator ruled Uber is “vicariously liable,” meaning it is responsible for the driver’s negligence.
Uber claimed it is only a technology platform connecting riders and independent drivers, citing California’s Prop 22 law.
The arbitrator said Uber acts like a common carrier, a company that transports people, so it can be held accountable.
Uber disagreed with the ruling but said it has improved safety policies.
The family refused a settlement offer that required them to stay silent about the accident.
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The board of Tata Sons, a large Indian company, reappointed N Chandrasekaran as chairman and supported making the company public, against the wishes of its biggest owner, Tata Trusts. This disagreement has caused uncertainty and may lead to a long legal dispute over the company’s future leadership and plans to list on the stock market.
Key Facts
Tata Sons is a 158-year-old Indian business group owning brands like Jaguar Land Rover and Tetley Tea.
Tata Trusts owns 66% of Tata Sons and opposed the recent board decision to reappoint N Chandrasekaran as chairman.
The board also supported a plan to make Tata Sons public by selling shares on the stock market, which Tata Trusts opposes.
Tata Trusts called the reappointment decision “illegal” based on company rules and governance codes.
N Chandrasekaran received a five-year extension as chairman and will turn 65 in 2028.
India’s central bank classified Tata Sons as an important financial company, requiring it to list on the stock market.
Tata Sons tried to avoid listing by repaying debt and arguing it doesn’t borrow publicly, but the central bank rejected this.
The dispute may lead to legal battles, and Tata Trusts is considering options besides listing the company publicly.
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Sir Jim Ratcliffe, a wealthy businessman and owner of part of Manchester United, says he has lost trust in the UK because of high taxes and immigration. He warns that the UK might face gas shortages this winter and criticizes the government for not investing enough in North Sea oil and gas.
Key Facts
Sir Jim Ratcliffe is the founder of Ineos and owns a large part of Manchester United.
He describes the UK economy as declining due to high taxes and immigration.
Ratcliffe says not investing more in North Sea oil and gas is a bad decision.
He warns that gas stores in the UK are low, which could cause shortages in a cold winter.
The government says business investment is rising and gas supply is secure.
Ratcliffe moved his tax residence to Monaco in 2020 and supports Brexit.
Other rich people like Lakshmi Mittal and Chris Rokos have also left the UK.
The government is still deciding on new North Sea oil projects but wants to transition to clean energy over time.
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Marks & Spencer (M&S), a well-known UK retailer, is becoming popular again, especially with shoppers under 35. The company held its first London Fashion Week show to reveal new clothing inspired by its past collections, aiming to attract younger customers while keeping loyal, older shoppers.
Key Facts
M&S is gaining popularity among women under 35, shaking off its old "fusty" reputation.
The brand hosted its first London Fashion Week show, showcasing 43 womenswear and 10 menswear looks.
The new collection features warm, trendy clothes like faux fur jackets, satin dresses, and sequined outfits.
M&S focuses on newer styles that follow current fashion trends but keeps its usual high quality.
The fashion show included diverse models of different ages, sizes, and genders.
Younger shoppers are buying fewer, better-quality staple clothes rather than fast fashion items.
Influencers support M&S’s approach as they promote wearing clothes multiple ways and choosing natural fabrics.
After a drop during the Covid pandemic, M&S has grown again in 2022-2023, supported by its fashion and home product lines.
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The Federal Trade Commission (FTC) has updated its settlement with Amazon, increasing the maximum refund for Prime customers from $51 to $200. Millions more Prime members in the U.S. may receive automatic payments because of expanded eligibility related to enrollment and cancellation issues.
Key Facts
Amazon agreed to a $2.5 billion settlement with the FTC over Prime subscription practices.
The FTC accused Amazon of signing up customers without clear consent and making cancellations hard.
Previously, refunds were limited to users who used fewer than 10 Prime benefits in a year; now users with up to 20 benefits can qualify.
The refund maximum increased from $51 to as much as $200 per eligible customer.
Over $845 million has already been paid out to consumers so far.
Customers do not need to apply for the refund; payments will be sent automatically by mail.
Eligibility covers U.S. customers who signed up or tried to cancel between June 23, 2019, and June 23, 2025.
Amazon denies wrongdoing but settled to resolve the case without admitting fault.
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Toys “R” Us plans to open 120 new stores across the U.S. by the 2026 holiday season, increasing their total from about 40 to 160 stores. This growth is driven by rising demand for toys and collectibles, especially from adults who buy toys as hobbies or investments.
Key Facts
Toys “R” Us will open 120 new standalone stores around the U.S. during the 2026 holiday season.
This expansion will raise the total number of U.S. stores to around 160.
The company is partnering with Go! Retail Group for this growth.
Adult buyers now make up 55% of toy sales and are driving industry growth.
Toy sales increased 17% in the first half of 2026, the strongest growth in six years.
Some new stores will include special features like Creator Studios for influencers and cafés to encourage longer visits.
Popular brands at the stores will include LEGO, Barbie, Hot Wheels, Pokémon, and K-pop Demon Hunters.
Toys “R” Us aims to attract both nostalgic adults and collectors as well as traditional children’s shoppers.
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President Trump criticized the Federal Reserve for raising interest rates, but several Republican senators defended the Fed’s decision. These senators said the rate increases help control inflation and keep the economy stable.
Key Facts
President Trump sharply criticized the Federal Reserve for raising interest rates.
Some Republican senators responded by supporting the Federal Reserve’s decision.
The senators argued that raising rates helps to manage inflation.
Inflation means prices for goods and services are going up.
Higher interest rates can slow down borrowing and spending, which helps control inflation.
The Federal Reserve is an independent agency that manages U.S. monetary policy.
There is tension within the Republican Party over how to handle economic policy.
The discussion is important because interest rate changes affect loans, mortgages, and the overall economy.
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Mortgage rates are rising, nearing 7%, making it harder for people to afford homes. This increase comes as inflation and global events affect borrowing costs, leading to fewer home sales and more challenges for buyers and sellers.
Key Facts
Mortgage rates reached 6.95%, the highest since January 2025.
Rates have increased for 11 straight weeks, influenced by inflation and geopolitical tensions.
Higher mortgage costs make homes less affordable for many buyers.
The 10-year Treasury note yield largely drives mortgage rate changes.
The Federal Reserve recently raised interest rates by 0.25 percentage points and may raise them more this year.
Home sales have dropped for four months in a row, with August sales at their lowest since June 2025.
Rising borrowing costs are causing sellers to lower prices or remove homes from the market.
Many potential buyers have given up or delayed purchasing a home due to high prices and rates.
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Meritage Hospitality Group, a major Wendy’s franchise operator, has filed for Chapter 11 bankruptcy due to financial difficulties caused by declining sales and rising costs. Despite the filing, Meritage plans to keep its Wendy’s restaurants open while restructuring its debts.
Key Facts
Meritage Hospitality Group operates 314 Wendy’s restaurants in 15 states.
The company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan.
Meritage cited declining sales, higher food and labor costs, and increased promotional discounts as reasons for financial trouble.
The company’s assets and debts are estimated between $10 million and $50 million.
Wendy’s corporate is its largest creditor, owed about $24.9 million in unpaid franchise fees.
Meritage employs around 9,000 people and plans to continue paying wages during bankruptcy, with court approval.
The bankruptcy does not mean all Meritage Wendy’s restaurants will close; they expect to keep operating throughout the process.
Chapter 11 lets companies reorganize debt while staying open to customers and employees.
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