Last year was marked but a large number of retail store closings and it appears that trend will continue in 2025.
JCPenny is the latest retailer to serve notice that its footprint will get smaller but not by much. The company said it expects to shutter only eight stores in the U.S. just 2% of the total. However, that may be just the tip of the iceberg.
A report by Coresight Research predicts 15,000 retail stores will close up shop in 2025, roughly double the number that closed in 2024. The report suggests it has less to do with economic conditions and more about changes in consumer behavior.
Consumers have shifted more of their purchases to online retailers such as Amazon, putting a dent in the profits of traditional department stores. Exceptions are retailers that also sell groceries, such as Walmart, Costco and Target.
Competition from Chinese retailers have also taken a larger share of U.S. consumers budgets. Coresight points to Shein and Temu, which ship inexpensive products to U.S. consumers, as major headaches for American retailers.
In other words, the shift in the retail landscape is being driven by how a new generation of American consumers shop. Retailers that havent adapted are shrinking, or disappearing altogether.
The Trump administration is preparing to exempt certain imported food products from tariffs in a bid to reduce grocery-store costs for American consumers.
Under the plan, tariffs would be lifted on selected items that are not grown or produced in sufficient quantity in the United States, such as coffee, bananas and other tropical fruits.
The move is part of a broader effort by the administration to ease inflationary pressures on food prices and respond to rising consumer cost-of-living concerns ahead of upcoming elections.
Food inflation has been a persistent pain point for consumers, perhaps exacerbated by tariffs on imported food products. In a shift in trade policy, the Trump administration has begun drafting exemptions to existing tariffs on some imported food items as part of a larger strategy to bring down escalating grocery prices for U.S. households.
The effort signals a recalibration of the administrations earlier trade posture, where sweeping reciprocal tariffs were imposed to address trade imbalances.
According to published reports, the exemption list will focus on goods that are either not produced domestically at a meaningful scale or for which domestic supply is unable to keep pace with demand. Among the products mentioned are coffee beans, bananas, and other tropical fruits imported from Latin American and Caribbean producers.
The legal basis for the change lies in an executive-order framework issued in September, which established a Potential Tariff Adjustments for Aligned Partners (PTAAP) annex. That annex explicitly allows for tariff reductions on certain agricultural products not grown or produced in sufficient quantity in the United States to meet domestic demand.
Why now?
Food prices have become a political flashpoint. With inflation on the minds of voters, the administration is trying to show tangible cost-of-living relief. A senior official told reporters that while removing tariffs doesnt change the weather in Ecuador, it could have a price effect for American consumers.
Trade groups representing food and beverage manufacturers had been lobbying for such relief for months. They have argued that blanket tariffs on imported ingredients are unnecessarily driving up costs for domestic processing and retail.
For example, a March letter from the Consumer Brands Association noted that inputs such as cocoa, coffee and tropical fruits cannot realistically be sourced entirely in the U.S. and urged targeted and carefully calibrated removal of tariffs.
The specifics
Though the plan is still being finalized, a few key points have been made public:
The exemptions will apply only to select products, not broad categories of imports. For example, the U.S. is planning to scrap tariffs on bananas and coffee from countries such as Ecuador.
The broader reciprocal tariff regime remains in place, meaning many imported goods still face tariffs of 10 % to 15 % from the four nations named in the framework.
The exemption list will be officially tied to trade framework deals. Only when trading partners commit to specified terms (such as opening markets to U.S. goods, or not imposing digital services taxes) will tariffs for the listed food products be reduced or removed.
Reactions and implications
Retailers and consumers: If retailers pass on the cost savings, shoppers may see modest reductions in prices of items like bananas, coffee and other imported fruits. Analysts caution that the effect may be gradual and dependent on supply-chain dynamics. Some retailers may delay absorption of the savings.
Domestic producers: Farm and food-processing interests in the U.S. are watching closely. While relief for imports may ease input costs, some U.S. producers argue that broad tariff relief could erode competitiveness for domestic suppliers. Congress may face pressure from both sides.
Trade policy watchers: The exemption pivot may signal a more nuanced trade policy from the administration one that retains pressure on trade imbalances via tariffs, while carving out relief where consumer pain is acute. Some observers view this as a pragmatic adjustment; others caution that it exposes the administration to criticisms of inconsistency or of abandoning its tougher-tariff rhetoric.
What to watch
The complete list of products eligible for exemption: which foods and agricultural goods make the cut, and under what conditions.
The timetable for implementation: when will the exemptions take effect, and will they require congressional notification or review?
Retail price pass-through: whether and how much of the tariff relief is reflected in lower prices at the grocery checkout or whether other cost pressures dilute the benefit.
Trade partner responses: how countries like Ecuador, Argentina, Guatemala and El Salvador respond and whether they reciprocate with favorable access for U.S. goods.
IRS raises 401(k) contribution limit to $24,500 for 2026
IRA contribution caps and catch-up limits rise under SECURE 2.0 adjustments
Income phase-out ranges for IRAs, Roth IRAs, and Savers Credit also increase
The Internal Revenue Service has announced a new round of cost-of-living adjustments that will raise contribution limits for retirement savers in 2026. The changes, affecting 401(k)s, IRAs, SIMPLE plans and eligibility thresholds for several tax-advantaged programs, are detailed in Notice 2025-67.
The move gives workers and retirees more room to save as inflation continues to shape long-term financial planning.
Higher limits for 401(k), 403(b), and other workplace plans
Employees who participate in 401(k), 403(b), governmental 457 plans, or the federal Thrift Savings Plan will be able to contribute up to $24,500 in 2026, up from $23,500 in 2025.
Catch-up limits are also increasing. Workers age 50 and older may contribute an additional $8,000bringing their total possible annual contribution to $32,500. A separate, higher catch-up category created under the SECURE 2.0 Act for workers ages 60 to 63 remains at $11,250 for 2026.
IRA contributions and catch-up limits rise
The annual IRA contribution limit will increase to $7,500, up from $7,000. The IRA catch-up contribution for savers age 50 and overnow subject to an annual cost-of-living adjustmentrises to $1,100.
Eligibility to deduct traditional IRA contributions also shifts upward. In 2026:
Single filers covered by a workplace plan can take a deduction with incomes up to $81,000$91,000.
Married couples filing jointly, where the contributor is covered by a workplace plan, face a phase-out range of $129,000$149,000.
IRA contributors not covered by a workplace plan but married to someone who is will see a phase-out range of $242,000$252,000.
Married individuals filing separately see no change, with the long-standing $0$10,000 phase-out range unaffected by COLA rules.
Roth IRA eligibility and Savers Credit thresholds expand
Roth IRA income limits will climb in 2026:
Singles and heads of household: eligibility phases out between $153,000$168,000.
Married couples filing jointly: the phase-out range increases to $242,000$252,000.
Married filing separately: unchanged at $0$10,000.
The Savers Credit, aimed at low- and moderate-income workers, also expands:
Up to $80,500 for joint filers
Up to $60,375 for heads of household
Up to $40,250 for single filers and married individuals filing separately
For 2026, individuals contributing to SIMPLE retirement accounts may save up to $17,000, an increase from $16,500. Higher limits created for certain eligible SIMPLE plans rise to $18,100.
Catch-up contributions for SIMPLE savers age 50 and older increase to $4,000, though certain eligible plans retain a separate $3,850 limit. The enhanced catch-up option for ages 6063 remains steady at $5,250.
Tesla recall for tens of thousands of Powerwall 2 units due to fire risk
Tesla Powerwall 2 battery systems may overheat and catch fire; owners should contact Tesla for free replacement.
Fire and burn hazard from overheating lithium-ion batteries
About 10,500 units sold between November 2020 and December 2022
Tesla offers free replacement; no injuries reported
Tesla, Inc. is recalling about 10,500 Powerwall 2 fully-integrated AC battery systems due to a risk of overheating, fire and burn hazards. These units, used for home energy storage and backup power, may stop functioning during normal use and potentially catch fire. The recall follows 22 reports of overheating, including six cases of smoking and five fires, though no injuries have been reported.
The hazard
The lithium-ion battery cells in certain Powerwall 2 systems can overheat and, in some cases, emit smoke or flames, posing a risk of serious injury or death from fire and burns.
What to do
Consumers should stop using the affected Powerwall 2 units immediately and contact Tesla for a free replacement. The recalled units were sold online and through certified installers between November 2020 and December 2022.
Company contact
Contact Tesla Support at powerwallsupportna@tesla.com or toll-free at 877-961-7652, Monday through Friday 8 a.m. to 5 p.m. PT. More details are available online at tesla.com/support/energy/powerwall/own/powerwall-2-replacement or tesla.com (navigate to Energy Support Powerwall Owners).
Zigjoy-US recall of hundreds of childrens sleep sacks for burn risk
Parents should stop using Zigjoy sleep sacks with feet and request a refund due to burn hazard.
Childrens sleep sacks do not meet flammability standards
About 700 units sold in various colors and sizes
Refund available; no injuries reported
Zigjoy-US is recalling about 700 childrens sleep sacks with feet due to a failure to meet flammability standards for childrens sleepwear. The products, available in blue with an excavator print or pink with a bunny print, pose a burn hazard and risk of serious injury or death.
The hazard
The recalled sleep sacks violate mandatory flammability standards for childrens sleepwear, posing a significant burn risk.
What to do
Consumers should immediately stop using the recalled sleep sacks and contact Zigjoy-US for a full refund.
Company contact
Contact Zigjoy-US by email at zjoy-us@outlook.com, or visit zigjoy.com recall page or click Recall at the top of zigjoy.com for more information.
Belkin recall for tens of thousands of power banks and charging stands due to fire hazard
Fire and burn risks prompt recall of Belkin portable power products sold from August 2020 to August 2025.
Overheating lithium-ion batteries can cause fires and burns
About 83,500 units sold in the U.S.; additional units sold in Canada
Refund offered; at least one U.S. fire reported but no injuries
Belkin International is recalling about 83,500 portable power banks and wireless charging stands due to fire and burn hazards from overheating lithium-ion batteries. The products were sold nationwide and online from August 2020 through August 2025.
The hazard
The lithium-ion battery in the recalled power banks and charging stands can overheat, posing serious fire and burn hazards.
What to do
Consumers should stop using the affected Belkin products and contact Belkin for a refund.
Great Lakes Wholesale International recall of thousands of battery packs for ingestion hazard
Consumers should return select battery packs lacking child-resistant packaging to prevent serious injuries.
Button and coin cell batteries lack required child-resistant packaging and warnings
About 32,600 packs sold nationwide through various retailers
Refund available; no injuries reported
Great Lakes Wholesale International is recalling about 32,600 select battery packs due to missing child-resistant packaging and required warning labels. Ingesting button or coin cell batteries can cause serious injury or death.
The hazard
The affected battery packs do not have child-resistant packaging or required warning labels. If a child swallows these batteries, it can lead to internal chemical burns, serious injury or death.
What to do
Consumers should stop using the recalled batteries and contact Great Lakes Wholesale International for a refund.
Company contact
Call Great Lakes Wholesale International collect at 708-597-6000 from 8 a.m. to 4 p.m. CT Monday through Friday, email Recall@Glwholesale.com, or visit glwholesale.com and click Recall at the top of the page.
Trek recall for thousands of bicycles and wheels due to brake failure
Trek and Electra bicycles and replacement wheels may have faulty coaster brakes; stop riding and seek repair.
Coaster brakes may fail, causing crash risk
About 68,000 bicycles and wheels sold in the U.S.
Free repair available; no injuries reported
Trek Bicycle Corporation is recalling about 68,000 Trek and Electra-branded bicycles with coaster brakes and replacement rear wheels with coaster brakes. The recall addresses a potential crash hazard if the brakes fail to engage.
The hazard
The coaster brakes on the recalled bikes and wheels may not engage, causing riders to lose control and increasing the risk of a crash.
What to do
Consumers should stop using the recalled bicycles and wheels immediately and contact Trek for a free repair.
Mobi Games recall for over 100,000 Zippee silicone toys due to choking risk
Parents should stop using Zippee silicone activity toys immediately and request a refund due to choking hazard.
Spherical ends can reach back of throat and cause choking
About 117,500 toys sold in the U.S. since November 2019
Refund available; one gagging and choking incident reported
Mobi Games, Inc. is recalling about 117,500 Zippee silicone activity toys due to a serious choking hazard. The flexible toys feature strings with spherical ends that can reach the back of a childs throat.
The hazard
The spherical ends on the strings of the Zippee toy can pose a choking risk as they can reach the back of a childs throat.
What to do
Consumers should immediately stop using the Zippee toys and contact Mobi Games for a refund.
Bettina recall for doll sets with accessible button batteries
Consumers should stop use and return Bettina Doll Sets with Magic Light Unicorn due to battery ingestion danger.
Battery compartment easily accessed by children, posing ingestion hazard
About 380 doll sets sold on Amazon
Refund available; no injuries reported
Shantou Chenghai Xingzigu Toy Industry is recalling about 380 Bettina Doll Sets with Magic Light Unicorn because the battery compartment is easily accessible to children. Swallowing button cell or coin batteries can cause severe injury or death.
The hazard
The battery compartment in the unicorn accessory can be opened by children, exposing accessible button cell batteries that can be swallowed.
What to do
Consumers should stop using the recalled doll sets and contact the company for a refund.
Company contact
Email bettinaaftersales@outlook.com for more information.
CPSC warning: Stop use of Langyi DaGiBayCn infant walkers due to fall hazard
Consumers should immediately dispose of Langyi DaGiBayCn infant walkers sold online due to risk of falls.
Infant walkers can fit through doorways and fail to stop at steps
Sold on Walmart.com and other platforms since March 2022
Stop use and dispose of product immediately
The U.S. Consumer Product Safety Commission (CPSC) warns consumers to immediately stop using Langyi DaGiBayCn infant walkers. The products pose a significant risk of serious injury or death because they can fit through standard doorways and may fail to stop at the edge of a step.
The hazard
The infant walkers violate mandatory standards by being able to pass through doorways and not stopping at steps, increasing the risk of dangerous falls.
What to do
Consumers should stop use immediately and dispose of the product. Do not sell or give away the infant walker.
Company contact
Report any incidents involving injury or product defect to CPSC at www.SaferProducts.gov. CPSCs Hotline: 800-638-2772 (TTY 800-638-8270).
CPSC warning: Stop use of NyxQuark portable misting fans due to battery ingestion hazard
Consumers should dispose of NyxQuark fan remote controls immediately; batteries pose a serious ingestion risk.
Remote controls have accessible coin batteries hazardous to children
About 4,490 units sold online from May to September 2025
Stop use and dispose of remote; follow local hazardous waste procedures
The CPSC warns consumers to immediately stop using the remote controls for NyxQuark portable misting fans due to the risk of accessible coin batteries, which can be easily swallowed by children and cause severe injury or death.
The hazard
The remote controls violate mandatory safety standards and contain accessible lithium coin batteries. Swallowing these batteries can result in internal chemical burns, serious injuries or death.
What to do
Consumers should stop using and dispose of the remote controls immediately, following local hazardous waste procedures. Do not sell or give away the hazardous remote controls.
Company contact
Report any incidents involving injury or product defect to CPSC at www.SaferProducts.gov.
A large genetic study found people with gene variants that lower certain cholesterol pathways had a markedly lower chance of developing dementia.
The research methodmimicked lifelong effects of cholesterol-lowering drugs on dementia risk, drawing on data from over one million people across three countries.
The strongest associations were seen for gene targets tied to widely used cholesterol-lowering pathways suggesting potential brain-health benefits.
Dementia is a major public-health concern as our population ages, any clue toward prevention draws attention.
Now, a recent study from the University of Bristol suggests that the same biological mechanisms that control cholesterol might also influence our likelihood of developing dementia.
While weve long known that high cholesterol affects heart health, this research opens the door to thinking about brain health too and raises the question: could keeping cholesterol low help preserve memory and cognitive function down the road?
"What our study indicates is that if you have these variants that lower your cholesterol, it looks like you have a significantly lower risk of developing dementia," researcher Dr. Liv Tybjrg Nordestgaard said in a news release.
The study
Instead of running a long clinical trial, the researchers used peoples genes to understand how cholesterol might affect dementia. Our genes can naturally raise or lower cholesterol throughout our entire lives. Because genes are set at birth, they arent influenced by things like diet, income, or other health conditions.
The team looked at over one million people from several large population studies. They focused on certain gene variants linked to six different cholesterol pathways the same pathways targeted by common cholesterol-lowering medications.
By comparing people with genetic traits that naturally lower non-HDL cholesterol (a type of unhealthy cholesterol) to those without them, the researchers could estimate what lifelong lower cholesterol might do to dementia risk.
The results
The results were striking: people who had genetic traits that lowered non-HDL cholesterol through specific pathways had a much lower chance of developing dementia.
The strongest effects were seen for three key cholesterol-related genes:
HMGCR linked to statins
NPC1L1 linked to ezetimibe
CETP a target of another group of cholesterol drugs
For these pathways, having genes that lowered unhealthy cholesterol was linked to a substantially lower risk of dementia over time.
For the other cholesterol pathways the team studied, the genes did not show a clear effect on dementia risk. This means how cholesterol is lowered not just how much may matter.
Its important to note what the researchers didnt conclude: They did not say that taking cholesterol-lowering drugs will definitely prevent dementia. Their study only shows what happens when cholesterol is lower throughout a persons entire life due to genetics. But the findings suggest that the biological pathways targeted by some cholesterol drugs could have protective effects on the brain something future clinical trials will need to test directly.
It would be a really good next step to carry out randomized clinical trials over 10 or 30 years, for example, where you give the participants cholesterol-lowering medication and then look at the risk of developing dementia, Dr. Nordestgaard said.
Cancer patients who quit smoking had a two-year survival rate of about 85%, compared with 74% for those who kept smoking.
Among patients with advanced-stage (stage III/IV) cancer who smoked, those who quit reached 85% survival at ~540 days versus ~210 days for those who didnt quit nearly a full year of extra life.
Only about one in five smokers in the study managed to quit within six months of their initial oncology visit, highlighting the challenge and the need for integrated cessation support.
When someone is diagnosed with cancer, its easy to feel that smoking cessation might no longer make a meaningful difference.
However, recent research from Washington University School of Medicine and Siteman Cancer Center shows that this isnt the case.
Across cancer types and stages, patients who stopped smoking after beginning cancer care went on to live significantly longer than those who continued.
The takeaway? Its never too late to quit, and doing so can meaningfully improve survival.
By showing that its never too late, even for the sickest patients, we hope to inspire all cancer centers and patients to include smoking cessation support as part of routine cancer care to improve survival, researcher Li-Shiun Chen, M.D., said in a news release.
The study
The research team conducted an observational study involving 13,282 adults receiving outpatient oncology care at Siteman.
At their first visit, smoking status was recorded and patients who reported smoking were observed over the next six months to see whether they quit. About 1,725 participants identified as current smokers at that initial visit.
The primary outcome: overall survival (OS) over the next two years. The study tracked who quit within six months and compared survival outcomes between those who quit and those who kept smoking. They also looked across cancer stages (stage I/II vs. III/IV) and cancer types.
A key feature: the cessation program was integrated into cancer care through electronic health record tools and on-site support (counselling, apps, medications) at Siteman.
The results
The survival advantage for those who quit was clear. Among all cancer patients in the study, two-year survival was about 85% for quitters compared to 74% for those who continued smoking.
For patients with advanced stage (III/IV) cancer, the difference was especially striking: 85% of quitters were alive at ~540 days, whereas those who kept smoking reached that 85% survival mark only at ~210 days. Thats nearly one additional year of life on average.
Bottom line: For anyone diagnosed with cancer who smokes, this study sends a clear message: quitting mattersno matter how far along the diagnosis. Quitting smoking isnt just a quality-of-life decision, it may extend survival in meaningful ways.
Advanced-stage cancer patients often feel hopeless, researcher Steven Tohmasi, M.D. said in the news release. If they feel they have limited time, some doctors might not actively encourage patients to quit smoking or may prioritize patient comfort over cessation efforts.
But when weve shown patients our data, it gives them hope and motivates them to want to quit. An extra year of life is a long time for patients who may have been told they only had months to live.
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