The Economic Times News

Wealth quote of the day by Jeff Bezos: Your margin is my opportunity. For more than three decades, Jeff Bezos has reshaped how wealth is created, scaled, and sustained. His ideas are not built on flashy shortcuts or overnight success. They are rooted in efficiency, patience, and long-term conviction. From AWS dominance to Blue Origin, Bezos proves patience, scale, and efficiency still outperform speed.

Retirees must take their 2025 RMDs by December 31 to avoid IRS penalties. Missing withdrawals can cost up to 25% of the amount. First-time RMDs may defer until April 1, but two distributions may increase taxes. Use RMD funds for home repairs, investments, or experiences. Timely action and smart reinvestment protect savings and boost retirement security.

Social Security reform is becoming urgent as the system faces money problems and shrinking benefit value. Experts say the trust fund could run out in the next decade, causing benefit cuts. At the same time, yearly increases are not keeping up with senior costs. Two key changes are needed to protect retirees and ensure long-term stability.

Linda Stevenson, the 64-year-old wife of Bill Stevenson, was found dead in her Delaware home on December 28, 2025. Her husband, Bill Stevenson, is known nationally as the first husband of First Lady Jill Biden. Police discovered Linda's body while responding to a domestic dispute call at the couples Wilmington residence.

India has imposed a safeguard duty on certain steel products for three years, starting with 12% in the first year, to counter a surge in cheap imports. This move, recommended by the DGTR, aims to protect domestic players from increased imports from countries like China, Japan, Korea, and Vietnam.

The Union Cabinet has approved the construction of a 374-km, six-lane greenfield Nashik-Solapur-Akkalkot corridor in Maharashtra at a cost of 19,142 crore. This project, to be built in Build-Operate-Transfer mode, will enhance connectivity to key cities and integrate with the PM Gatishakti National Master Plan. Additionally, NH-326 in Odisha will be widened and strengthened for 1,526.21 crore.

Prince William and Kate Middleton earn $30.9 million yearly from the Duchy of Cornwall. The estate is very old and worth over $1 billion, supporting their family and royal duties. From 2026, they will give Royal Warrants to trusted brands. Kates approval is very influential. Their income and new royal roles show how much power and responsibility they hold.

January's skywatching highlights include the Wolf Moon, a supermoon on Jan. 3, coinciding with Earth's perihelion. The Quadrantid meteor shower also peaks that day, though moon glare may hinder viewing. Jupiter will be at opposition on Jan. 10, offering a clear view, followed by the new moon on Jan. 18.

Social Security payments depend on work years, income, and claiming age. Some retirees get much higher monthly checks by planning early. Working longer, earning more taxable income, and delaying benefits can increase retirement income. Many people claim too early and miss bigger payments. Knowing the rules helps retirees get more money each month.

New Year's Day 2026 is here and schools, government and banks are closed on January 1.

Best places to watch New Years Eve 2026 fireworks across the USA: The United States is preparing for a massive 2026 New Years Eve. From the neon lights of the Las Vegas Strip to the iconic Ball Drop in New York City, millions will gather to celebrate. If youre searching for New Year fireworks near me, here is the list of top U.S. cities hosting the biggest New Years Eve 2026 celebrations.

Looking ahead to 2026, the Bharatiya Janata Party is gearing up for a pivotal shift in leadership. With an emphasis on infusing fresh energy into its ranks, the party is set to welcome a new generation of leaders poised to make their mark.

Trump Media new crypto token: Trump Media plans to launch a new cryptocurrency. Shareholders will receive one token for each share they own. This digital token will run on the Cronos blockchain. The move expands Trump-linked cryptocurrency ventures. Donald Trump, as the largest shareholder, will receive a significant portion of these tokens.

The Trump administration ordered the Justice Department to release the files tied to criminal probes of Jeffrey Epstein, the late financier and convicted sex offender, who was friends with U.S. President Donald Trump in the 1990s, in compliance with a transparency law passed by Congress last month.

A sessions court in Jammu and Kashmir has acquitted three individuals accused of terror-related activities. The court cited a lack of evidence and significant gaps in the prosecution's case. The accused, Wajid Ahmad Bhat, Masrat Bilal Bhuru, and Rameez Ahmad Dar, were arrested in Srinagar in October 2022. The court found the prosecution failed to prove charges beyond reasonable doubt.

Amit Shah visited Kolkata to strategize for the 2026 Assembly elections. He met with party leaders and workers, emphasizing constituency engagement. Shah also visited a temple. Dilip Ghosh, a former state BJP president, was tasked with strengthening a Lok Sabha constituency and its Assembly segments. The meetings aimed to boost ground-level outreach.

Trinamool Congress leader Abhishek Banerjee has accused the Election Commission of ignoring party concerns regarding West Bengal's electoral roll revision. Banerjee stated the party will not accept the final voter list if it contains discrepancies and will pursue legal recourse. He alleged vote theft occurs through voter lists, not EVMs.

The Centre is preparing for Deregulation 2.0, targeting 30 key areas for significant compliance reduction. This initiative will focus on seven sectors, with the Education Ministry and Utilities/Permissions seeing the most changes. This builds on Deregulation Phase I, which saw substantial implementation.

The delegation of some 200 business leaders will skip the trip originally scheduled January 20, the Japan-China Economic Association said Wednesday. The groupcited challenges in securing meetings with Chinese officials and said no rescheduled date has been decided.

The reunification of our motherland, a trend of the times, is unstoppable, Xi said amid stepped up high-powered drills by the Chinese military in the last three days around the self-governing island, which China claims as part of its mainland. This is the sixth time since 2022 that China held intensified military drills using the latest air force jets, aircraft carriers, missiles and drones practising the capture of Taiwan.

The 137th Rose Parade will be broadcast live on New Year's Day, January 1, 2026, starting at 11 a.m. ET from Pasadena, California. Hosted by Kevin Negandhi and Hannah Storm, the event will feature floral floats, marching bands, and equestrian units, with Magic Johnson as grand marshal.

U.S. stock markets are open on New Years Eve, closing at 4:00 p.m. ET, while bond markets close early at 2:00 p.m. All U.S. markets are closed on New Years Day. In 2025, the S&P 500 rose 17%, Nasdaq 21%, and Dow 14%. Investors are watching 2026 earnings and Federal Reserve decisions for market trends.

Pakistan's National Assembly Speaker Sardar Ayaz Sadiq and Indian External Affairs Minister S Jaishankar had a brief interaction in Dhaka, marking the first significant high-level contact since the May conflict. The meeting occurred on the sidelines of the funeral of Bangladesh's former prime minister Khaleda Zia. Pakistan reiterated its commitment to dialogue and peace talks.

Reserve Bank Governor Sanjay Malhotra urged staff to enhance regulatory calibrations and supervision in the new year, emphasizing customer centricity and financial inclusion. He highlighted the need for improved analytical capabilities, technology adoption, and a commitment to core institutional values amidst a dynamic economic landscape.

Magnitude 6 earthquake strikes off coast of Japan's Noda region, USGS says

As 2026 approaches, Americans can rely on Walmart for New Year's Eve shopping, with most locations open regular hours. Other major retailers like Costco will also be accessible, though many will have adjusted or earlier closing times. Shoppers should confirm specific store hours for last-minute needs before the festivities.

From January 1, five US states will limit what SNAP users can buy at grocery stores. Soda, candy, and some drinks are being removed in different states. The move is linked to health goals, but critics warn of confusion at stores, higher costs, and problems for low-income shoppers using food benefits.

Trump Mobile had promised a gold-colored handset, though it remains unclear who would manufacture it, as the U.S. has little domestic smartphone production.

Happy New Year AI Stickers: WhatsApp is enhancing New Year's Eve celebrations with new party-themed features. Users can now utilize a 2026 sticker pack, video call effects like fireworks and confetti, and animated confetti reactions for messages. Additionally, animated stickers can be added to Status updates, making virtual festivities more engaging and interactive for all.

Trump third term 2028: Billionaire Miriam Adelson reportedly offered Donald Trump $250 million for a third presidential term, citing legal advice suggesting a loophole. This pledge, made at a White House Hanukkah event, reignites speculation about Trump's political future, despite constitutional barriers. The idea of succession, rather than reelection, is also being explored as a potential path.

Happy New Year 2026 wishes: As 2026 approaches, New Year wishes offer a moment for reflection and connection. These messages convey love, gratitude, and hope. Simple, sincere words can make a lasting impact. The article provides examples of wishes and quotes to help celebrate the upcoming year. It emphasizes the importance of personal sentiment in New Year greetings.

The ministry of labour and employment, on Wednesday, notified draft Rules for Code on Wages, Code on Social Security, the Industrial Relations Code and the Code on Occupational Safety, Health and Working Conditions and has sought comments from all stakeholders on the draft Rules within 30-45 days after which the final Rules will be notified. The Codes were implemented on November 21, 2025 but will become operational once the final Rules are notified.

A major Social Security change in 2026 will raise the wage cap, making some workers pay more payroll tax. The update mainly affects high earners and self-employed people. While taxes may increase, paying more into the system can also support future Social Security benefits and long-term retirement planning.

Government has maintained interest rates for twelve small savings schemes, including PPF and Sukanya Samriddhi, for the March quarter. This marks the eighth consecutive quarter without changes, despite the central bank's repo rate reductions. These collections aid in financing the government's fiscal deficit.

Ellen DeGeneres has changed her look, returning to blonde hair with a shaggier style. She was recently seen in Montecito, California. This comes after she and her wife, Portia de Rossi, moved to the UK in 2024. Rumors suggest a possible return to the United States, with property sales in California occurring in 2024 and 2025.

Trump accounts give $1,000 to children born 20252028 to help families save. Parents, relatives, and employers can contribute, but contributors must file gift tax Form 709 because money is not accessible until 18. Experts warn about filing costs and taxes. Many still say the free $1,000 is worth it, but other accounts like Roth IRAs or 529s may be better.

President Trump's trade promises and tariff threats for 2025 largely remained unrealized, despite a barrage of new import taxes enacted this year. While some levies materialized, others, like the External Revenue Service and a 200% tariff on European wine, did not. Details on initiatives like a $2,000 tariff dividend remain scarce.

MH370 search update: A new search for missing Malaysia Airlines Flight 370 has begun. Ocean Infinity, a Texas company, is using advanced technology to scan a vast area of the Indian Ocean seabed. This operation is a renewed effort to solve the mystery of the 2014 disappearance. The company operates on a 'no-find, no-fee' basis.

In 2025, the BJP cemented its position in the political landscape, claiming victories in both Delhi and Bihar. As the party gears up for 2026, it will confront challenging assembly elections in West Bengal, Assam, Tamil Nadu, Kerala, and Puducherry. The upcoming contests are pivotal, revealing strategic insights and hurdles that the BJP must navigate.

Uttar Pradesh is setting ambitious goals for wastewater reuse. The state plans to safely reuse half of its wastewater by 2030 and all of it by 2035. This treated water will serve industries and agriculture. This initiative aims to conserve water and create economic opportunities. Uttar Pradesh is becoming a leader in water management.

Jobless claims dipped last week as layoffs remained low, despite a softening labor market. While applications fell to 199,000, analysts expected more. Recent job gains were modest, with the unemployment rate climbing. This data suggests hiring momentum has slowed, prompting the Fed to trim interest rates amid concerns about job market weakness.

New Year 2026 celebrations begin in the Pacific, with Kiribati first and New Zealand among the earliest. Auckland marked the moment with a stunning Sky Tower fireworks show as the countdown rolled across time zones.

India's Defence Research and Development Organisation achieved a significant milestone on December 31, 2025. Two Pralay missiles were launched in quick succession from a single platform off the Odisha coast. This successful user evaluation trial confirmed the missile's precision and readiness. The event showcased the reliability of this indigenously developed weapon system.

Uttarakhand Chief Secretary Anand Bardhan led the House of Himalayas board meeting. Key decisions included expanding self-help groups and federations. The board approved GI tagging and organic certification for product quality. Warehouse capacity will be increased in Garhwal, Kumaon, and Delhi NCR. MoUs with Aromatic Plant Centre and Doon Silk Federation are planned.

Many Baby Boomers depend on Social Security because their savings are low. But Social Security has limits, changing rules, and benefits that lose value over time. Experts warn that relying only on these payments is risky. Boomers need to understand how the system works and build personal savings to stay financially safe in retirement.