Fox Corp. will buy Roku, a streaming service company, in a deal worth about $22 billion. The combined company aims to become the third-largest TV viewer platform in the U.S., with no immediate changes expected for Roku users.
Key Facts
Fox Corp. agreed to buy Roku in a cash-and-stock deal valued at around $22 billion, including debt.
Roku will continue as an open platform that works with many partners.
The merger will create the third-largest U.S. TV viewing platform by audience share.
Fox will gain access to over 100 million global households and Roku’s streaming channel and data.
Fox already owns sports, news, entertainment networks, and the streaming service Tubi.
Roku’s CEO and founder, Anthony Wood, will stay with the company and join Fox’s board.
Fox shareholders will own about 73% of the new company; Roku shareholders will own about 27%.
The deal needs shareholder and regulatory approval and should close in the first half of next year.
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A possible peace deal between the U.S. and Iran could help reduce inflation by reopening the Strait of Hormuz, a key route for oil shipments. Although ships are beginning to move through the strait again, some risks and delays remain due to conflict damage and the need for repairs.
Key Facts
President Donald Trump announced that ships loaded with oil are starting to pass through the Strait of Hormuz again.
The Strait of Hormuz is a crucial route for shipping oil, fertilizer, and other industrial goods.
There are still risks from underwater mines and conflict damage that raise insurance costs for passage through the strait.
Repairing the strait to ensure safe travel could take several weeks.
Oil shipments and other supplies are expected to increase gradually, not immediately.
The peace deal between the U.S. and Iran may lower geopolitical risks that affect global supply chains.
These changes could help reduce inflation by improving the flow of goods and energy prices.
The Federal Reserve is watching these developments as it makes decisions about inflation and economic policy.
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The Crystal Bridges Museum of American Art in Bentonville, Arkansas, has expanded its campus by 50 percent with new galleries, studios, and public spaces. The expansion aims to provide visitors with more ways to experience American art, connect with nature, and support artists through new exhibitions and programs.
Key Facts
Crystal Bridges added 114,000 square feet to its campus, increasing its size by half.
The expansion includes new galleries, studios, gathering areas, and an elevated café.
The museum’s goal is to offer more access and diverse stories in American art.
The first major exhibit in the new space features Keith Haring’s 3D artwork.
The museum emphasizes a smooth visitor experience linking art with the natural Ozark landscape.
New designs by Safdie Architects strengthen connections between indoor galleries and outdoor trails and ponds.
Crystal Bridges supports artists through residencies and ongoing creative programs.
The expansion encourages visitors to find personal connections and deeper understanding of art.
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Kevin Warsh is leading his first meeting as chairman of the Federal Reserve. He faces rising inflation, pressure from members who want higher interest rates, and decisions about how the Fed will communicate its plans. His approach could change how the Fed handles economic policy and talks to the public.
Key Facts
Kevin Warsh is the new Federal Reserve chairman holding his first policy meeting.
Inflation has been rising this year, causing uncertainty about planned interest rate cuts.
Some Fed officials want to raise interest rates to control inflation.
Warsh has called inflation a choice and believes the Fed must take responsibility.
He thinks new technologies and earlier government policies can help growth without causing inflation.
The Fed might remove language suggesting future interest rate cuts from its official statements.
Warsh may reduce how much the Fed communicates detailed future plans, different from his predecessor.
Observers will watch closely to see how Warsh’s leadership changes Fed policy and communication.
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The number of U.S. cities where the cheapest homes cost $1 million or more has grown to 242, tripling since 2020. High home prices are mostly found in California and the Northeast, driven by housing shortages and strong demand during the pandemic.
Key Facts
A "starter home" is defined as a home in the lowest third of home values in a region.
242 U.S. cities now have starter homes costing at least $1 million.
This number has tripled since 2020.
The median U.S. home price is about $418,000.
The typical starter home costs just under $199,000 nationally.
Buyers need an annual income of about $117,000 to afford the average home.
California has 105 cities with million-dollar starter homes, the most of any state.
26 states now have at least one city with starter homes costing $1 million or more, up from 9 states before the pandemic.
The Northeast has more expensive homes due to ongoing housing shortages, while some Sun Belt areas have built more homes, easing price growth.
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A debt collector can freeze a bank account if they have a court judgment, but sometimes the wrong account is frozen by mistake. This can block access to your money, but you can usually fix the problem by acting quickly, showing proof, and contacting the bank, debt collector, or court.
Key Facts
Debt collectors need a court order to freeze (levy) a bank account.
Errors can happen when accounts have similar names or outdated information.
Banks usually freeze the account right away and verify later, which can block access to the money temporarily.
The account owner must prove the freeze is a mistake to get it reversed.
Protected funds like Social Security, veterans benefits, or SSI are usually safe but can be reviewed again during a freeze.
The dispute process involves contacting the bank, debt collector, and possibly the court.
Providing documents like ID and account records helps resolve the issue faster.
In some cases, the wrong freeze might lead to reimbursement for affected account holders.
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Oil prices dropped to their lowest level since March after the United States and Iran announced a deal to reopen the Strait of Hormuz, a key oil shipping route. This news also boosted U.S. stock markets as it signals a possible end to conflict in the region that had disrupted oil supplies.
Key Facts
Oil prices fell by 5% to around $80.40 per barrel, the lowest since early March.
The deal between the U.S. and Iran will reopen the Strait of Hormuz, which was closed by Iran during the conflict.
The Strait of Hormuz is important because it carries about 20% of the world’s oil supply.
U.S. stock markets rose: Dow Jones by 1%, S&P 500 by 1.4%, and Nasdaq by 2.3%.
Gas prices in the U.S. are dropping, with the national average now at $4.06 per gallon, down 46 cents in a month.
President Donald Trump authorized the removal of the U.S. naval blockade on the strait following the deal.
The deal is expected to be officially signed in Switzerland on Friday.
Oil is the main ingredient in gasoline and affects fuel prices at the pump worldwide.
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Inherited IRAs (Individual Retirement Accounts) do not have the same legal protections from creditors as regular retirement accounts owned by the original saver. Federal rules and court decisions mean these accounts may be vulnerable to creditors, especially in bankruptcy, and rules can differ by state.
Key Facts
Regular IRAs and 401(k)s are generally protected from creditors by federal law.
Inherited IRAs are subject to different rules and are less protected in bankruptcy cases.
The Supreme Court ruled in 2014 that inherited IRAs do not qualify for the same bankruptcy protections as original retirement accounts.
State laws vary widely on how well inherited IRAs are protected from creditors outside of bankruptcy.
Creditors usually must sue and get a court judgment before going after funds in an inherited IRA.
Money withdrawn from an inherited IRA loses protection and can be seized by creditors.
People with inherited IRAs and debt problems should talk to a lawyer or financial expert familiar with their state’s rules.
Debt settlement is a possible way to handle debts and protect inherited IRA assets.
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The Federal Reserve will hold a meeting this week to discuss interest rates, but no rate cuts are expected at this time. Mortgage rates may not drop significantly after the meeting, but homebuyers and those refinancing should watch for lender offers and consider different mortgage options.
Key Facts
The Fed is meeting for the first time since April to discuss interest rate policy and other issues.
Current inflation, overseas conflicts, and strong employment are influencing the Fed’s decisions.
A rate cut is unlikely this week, with less than a 2% chance according to market tools.
Mortgage rates have risen recently due to inflation and geopolitical tensions.
Mortgage rates vary daily and differ between lenders, so shopping around can help borrowers find better rates.
Some borrowers may benefit from paying rate points now to lower their mortgage interest rate.
Adjustable-rate mortgages (ARMs) could be a good option for some buyers who want lower initial rates but accept future changes.
Locking in a mortgage rate now can protect borrowers from possible rate increases before closing.
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Hosting the FIFA World Cup often costs cities more money than they earn from the event, despite its global popularity and economic benefits at the international level. Local governments pay for large expenses like security and transportation, while FIFA earns most of the revenue.
Key Facts
The 2026 World Cup is expected to add $40.9 billion to the global economy and create over 800,000 jobs.
Host cities cover big costs including security, policing, transportation upgrades, and fan events.
FIFA collects most of the money made from the World Cup, while cities take on much financial risk.
Past research shows that 12 of the last 14 World Cups caused economic losses for host cities.
For example, the 1994 World Cup in the U.S. led to about $9.3 billion in losses for local cities.
FIFA says it works with host cities to reduce costs and accommodate local needs.
The 2026 tournament will be held in 16 cities across the U.S., Canada, and Mexico.
There are concerns this year’s host cities may lose money due to low hotel prices, high airfares, and a mix of priced and unsold tickets.
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Scott Vincent Borba co-founded e.l.f. Cosmetics and helped grow it into a successful company. Later, he chose to leave the business world to become a Catholic priest, seeking a different kind of fulfillment.
Key Facts
Scott Vincent Borba helped build e.l.f. Cosmetics, a popular beauty brand.
e.l.f. Cosmetics became a multimillion-dollar company.
Borba did not feel personally fulfilled by his business success.
He decided to leave the cosmetics industry.
Borba pursued a new path as a Catholic priest.
The story was featured by CBS News contributor David Begnaud.
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Reform UK has proposed a new tax on companies that hire foreign workers to encourage hiring more British workers. The plan would reduce the National Insurance payments employers make on British staff by charging firms a levy for employing foreign workers, with rates depending on the workers’ wages.
Key Facts
Reform UK wants to tax companies hiring foreign workers to lower employers’ National Insurance costs for British employees.
The plan focuses on lower-paid jobs and includes a tax that decreases as wages increase.
For example, companies hiring foreign workers at minimum wage (£24,784 per year) might pay a £3,750 tax annually.
The party says this policy would help prioritize British workers over migrant workers.
Reform UK also wants to stop migrants from settling permanently after five years, requiring citizenship or new visas with higher salary rules.
The tax would mainly affect sectors like retail, hospitality, manufacturing, and private carers.
Treasury spokesman Robert Jenrick believes the tax cut for British employees and levy on foreign workers would balance the government’s costs.
Reform UK’s leader Nigel Farage also proposes banning foreign nationals from social housing and cutting VAT for small businesses.
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Netflix has canceled 11 shows in 2026 after only a few seasons, including some that never made it past their first season. These cancellations were mostly due to low viewership and audience engagement, despite some shows receiving good reviews.
Key Facts
At least 11 Netflix shows were canceled in 2026, including Mindhunter, The OA, The Abandons, and Terminator Zero.
Netflix’s co-CEO Ted Sarandos said the company does not cancel successful shows.
The Abandons was canceled after one season due to high costs not matched by enough viewers.
Terminator Zero, planned for five seasons, was canceled after one season because not enough people watched it.
The Vince Staples Show was canceled despite good reviews and a greenlight for a second season due to low audience numbers.
Pop the Balloon, a dating show, was canceled after poor audience engagement and low ratings.
Selling the City, a real estate reality show, will not return for another season.
Netflix decisions reflect a focus on balancing budget costs with audience size.
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President Donald Trump announced a deal with Iran to reopen the Strait of Hormuz, an important waterway for global oil shipments. As a result, oil prices dropped and U.S. stock markets are expected to rise when trading starts.
Key Facts
The Strait of Hormuz carries about 20% of the world’s crude oil.
Brent crude oil price fell nearly 5% to $83.11 per barrel.
U.S. West Texas Intermediate oil dropped about 5.2% to $80.47 per barrel.
U.S. stock futures for the S&P 500 and Dow Jones show expected gains of around 1%.
The U.S. naval blockade on Iran will end after the deal is signed on Friday.
It may take weeks for oil shipping through the strait to return to half of normal levels.
Gas prices in the U.S. are still about 37% higher than before the conflict began.
Experts say gas prices could fall but will not return to pre-war prices soon, so inflation may continue rising in the short term.
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Central banks in the US and UK are expected to keep interest rates steady this week after a new peace deal in the Middle East helped lower oil prices and reduce inflation pressures. The US Federal Reserve and the Bank of England will announce their decisions soon, with their leaders focusing on how the peace deal might affect prices and the economy.
Key Facts
The US Federal Reserve is likely to keep its interest rate between 3.5% and 3.75%.
Kevin Warsh, President Trump’s pick as Fed chair, will make his first policy decision this week.
US inflation rose from 2.4% in February to 4.2% in May, the highest in three years.
The Bank of England is expected to hold its rate at 3.75%, despite UK inflation being 2.8%.
The peace deal in the Middle East opened the strait of Hormuz, dropping oil prices and easing inflation.
The European Central Bank recently raised rates to 2.25% due to rising inflation in the eurozone.
ECB President Christine Lagarde warned about “second-round” inflation effects, like wage hikes pushing prices higher.
Analysts believe if the peace deal lasts, UK inflation could stay below 4%, possibly avoiding more rate increases this year.
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Fox is buying the streaming company Roku for $22 billion. The deal aims to create the third largest TV service in the US by combining Fox’s live news and sports with Roku’s streaming platform.
Key Facts
Fox is purchasing Roku for $22 billion, paying $160 per share with cash and stock.
The combined company will become the third largest TV player in the US by viewing share.
Fox sees this move as a way to strengthen its position as more audiences watch TV online.
Fox previously bought the streaming service Tubi in 2020, which has grown successfully under Fox.
Fox focuses on live news and sports, and Roku is a popular platform for streaming video in America.
Lachlan Murdoch is the CEO of Fox and supports the deal as a key step in Fox’s strategy.
The deal brings together live content from Fox with Roku’s popular streaming technology.
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Fox Corp. is buying the streaming platform Roku in a deal worth $22 billion. The purchase will make the combined company the third-largest in U.S. television based on viewership, and the deal should finish by mid-2027.
Key Facts
Fox Corp. is acquiring Roku for $160 per share.
The deal includes a mix of cash and stock payments.
The total value of the deal is $22 billion.
After the acquisition, Fox and Roku will be the third-largest U.S. TV company by audience share.
The acquisition is expected to close in the first half of 2027.
Roku is known for its streaming platform, which allows users to watch TV shows and movies over the internet.
Fox Corp. is a large media company involved in television and entertainment.
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The UK government plans to lower its electric car sales target from 80% to 50% by 2030, weakening rules meant to reduce emissions. This proposal faces strong criticism from electric vehicle makers and charging companies who say it will hurt industry growth and environmental goals.
Key Facts
The UK government wants to reduce the target for pure electric car sales from 80% to 50% by 2030.
Current rules allow some flexibility for plug-in hybrid electric vehicles (PHEVs), which have both a petrol engine and a small battery.
Charging companies have invested billions based on higher electric vehicle demand and warn the change could cost jobs.
Plug-in hybrids emit less carbon than petrol cars but much more than pure electric cars.
The decision follows pressure from carmakers and unions aiming to protect UK automotive jobs.
Critics warn weakening targets may lead to more petrol cars on roads and higher carbon emissions.
Chinese electric car brands have been increasing sales in the UK, many of which are plug-in hybrids.
Electric vehicle advocates say only a fast transition to pure battery electric cars will secure the UK car industry’s future.
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Starbucks stores in South Korea will close for half a day next week so all staff can take a history lesson. This follows public anger over a "Tank Day" promotion that was seen as insensitive to a deadly 1980 military crackdown on pro-democracy protesters.
Key Facts
Starbucks Korea will close all stores at 3 p.m. local time for three hours next Wednesday for staff training on historical awareness.
The training includes watching videos to teach about the social and historical sensitivity of the 1980 Gwangju Uprising.
The "Tank Day" campaign promoted reusable tumblers called the Tank Series and coincided with the anniversary of the Gwangju Uprising, where at least 165 civilians were killed by military forces.
The campaign caused strong public backlash, protests outside stores, and a significant drop in Starbucks Korea sales.
Starbucks Korea's CEO was fired immediately after the controversy.
Shinsegae Group, which operates Starbucks in South Korea, said they used an AI tool to help create the promotion slogan.
South Korea’s President Lee Jae Myung publicly condemned the campaign as inhumane and disgraceful.
The Gwangju Uprising is a key event in South Korea’s move toward democracy and involved serious human rights abuses by the military.
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