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UK makes major energy move with North Sea project, and new gas supplies could arrive this winter

Fox Business - Thu, 10/22/2026 - 22:29

Britain's newly approved Jackdaw gas field in the North Sea gas project could begin producing gas "as soon as this winter," potentially bringing a new source of domestic energy online within months, according to the country's ambassador to the United States.

British Ambassador to the U.S. Sir Christian Turner joined FOX Business' Stuart Varney on "Varney & Co." to discuss the project's timeline, its potential economic impact and Britain's approach to energy security.

The project is part of Britain's effort to maintain domestic oil and gas supplies alongside other energy sources. Turner described the approval as a practical step toward meeting the country's long-term energy needs rather than a departure from its broader energy approach.

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"I think this is a pragmatic decision about our long-term energy mix. We've always accepted that we're going to need a mix of energy supply for the U.K. that will include oil and gas. And the good thing about this field, which we announced yesterday, is that the gas can come online very quickly as soon as this winter," Turner said.

Turner said the field is expected to operate for roughly 11 years and produce approximately 40 million barrels of oil equivalent over its lifetime. He estimated that output would represent about 6% of Britain's domestic gas production at its peak, while the project could generate roughly $3.8 billion in economic benefits and support jobs.

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The ambassador also addressed whether President Donald Trump's support for increased energy production influenced the decision. Turner acknowledged the president's views but emphasized Britain's own priorities.

"He [President Donald Trump] has been very clear in his views on this for a long time, and of course we've heard that. But, no, this is about an action that I think is in our national interest," Turner said.

He added secure and resilient energy supplies remain central to Britain's plans, with potential economic benefits extending beyond Scotland to the rest of the United Kingdom.

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Discount chain opening new stores across 7 states in October

Fox Business - Thu, 10/22/2026 - 22:28

Discount chain Ollie's Bargain Outlet is expanding its footprint with a wave of new store openings across seven states this month.

The Pennsylvania-headquartered retailer is opening locations in Minnesota, New York, Ohio, Illinois, North Carolina, New Jersey and Maine throughout October, according to the company's website.

The latest openings include a store in Baxter, Minnesota, Oct. 28, followed by locations in Waterville, Maine, and Dover, New Jersey, Oct. 29.

Ollie's opened stores in Geneva, New York, and Hutchinson, Minnesota, Oct. 7.

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The chain followed with four openings on Oct. 21 in Newark, New York; Cleveland, Ohio; Mattoon, Illinois; and Wilkesboro, North Carolina.

Another North Carolina location opened in Asheboro Oct. 22.

The expansion comes as consumers continue to contend with higher prices and look for ways to stretch their household budgets.

Ollie's specializes in selling "real brands at real bargain prices," with products ranging from household goods and electronics to food and toys, according to its website.

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The new locations include:

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The retailer also opened new locations across several states in September, including Minnesota, Indiana, Florida, West Virginia, Louisiana, Wisconsin and Ohio, among others.

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Owning a home comes with a hidden price tag – and it's getting more expensive

Fox Business - Thu, 10/22/2026 - 22:08

The hidden costs of homeownership are rising and have increased by nearly one-third in the last five years, as things like insurance, maintenance and property taxes take a bite out of homeowners' budgets.

A new report by Zillow and Thumbtack found that those costs amount to about $16,566 per year, which amounts to roughly $1,380 a month in addition to a mortgage payment.

Within the $16,566 total cost, the typical U.S. homeowner faces about $11,171 in annual maintenance, $2,266 on homeowners insurance, as well as $3,129 on property taxes.

"Many households focus so much on winning the home and underestimate what it costs to live in it," said Zillow senior economist Kara Ng. "Long after they receive the keys, insurance, taxes and upkeep are recurring expenses to plan for. Since these homeownership costs vary so much by market, home shoppers should run the numbers and understand what they can truly afford before they make an offer."

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Hidden costs have risen in recent years, with the biggest jump occurring in homeowners insurance premiums, which are up 54% over the last five years.

Maintenance costs experienced the second-fastest growth rate and are up 32% over the past five years, while property taxes grew 19% in that period.

Overall homeownership costs increased 3% in the last year, but are up 32% over the past five years.

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The Zillow and Thumbtack analysis found that maintenance costs showed the clearest slowdown, as annual increases in maintenance costs eased in each of the last five years, slowing from 9% in 2022 to 1% in 2026.

Insurance is following a similar pattern, with premiums rising just 0.3% between February and June 2026.

"The slowdown in maintenance cost growth is welcome news for homeowners managing a lot of competing expenses," said Kendra Sinclair, Thumbtack's home trends expert. "Planning for regular upkeep throughout the year can help prevent bigger repair bills and protect your savings when something unexpected happens."

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The biggest increases in hidden homeownership costs were in a handful of metro areas. Insurance premiums have risen at least 50% over five years in 19 of the 30 metros analyzed, with the largest increases in Dallas (75%), Tampa (71%), Denver (70%) and Houston (69%).

Those insurance premium increases may be driven in part by severe weather, including hail, tornadoes and damaging winds.

Maintenance was the largest hidden cost in the country, covering about two-thirds of the national total, and was above $12,000 in six major metro areas, including Seattle ($12,594) and Boston ($12,486).

The sharpest uptick in maintenance expenses was in Los Angeles, with expenses up 27% year over year, which the analysis attributed to a mix of regional factors like wildfire-related recovery efforts, heightened demand for home services and persistently elevated labor costs.

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