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Business news, market updates, and economic developments
Divorce can reduce household income and increase expenses, making it harder to pay off debts. While divorce alone does not qualify someone for debt forgiveness, lenders and creditors may offer help if financial hardship after divorce makes paying debts difficult.
Key Facts
Divorce often lowers income and raises costs like legal fees and support payments.
High overall debt and rising interest rates can make debt harder to manage after divorce.
Creditors may forgive some debt if a borrower shows genuine financial hardship but won’t do so just because of divorce.
Credit card companies might settle for less than the full amount owed if payments are missed.
Healthcare providers may offer reduced medical bills or hardship programs after income changes from divorce.
Private student loan forgiveness is rare, but some hardship options exist; federal student loans have separate programs.
Collection agencies may accept smaller payoff amounts if full payment is unlikely due to changed finances.
Divorce agreements don’t always change legal responsibility for debts, so it’s important to address joint debts quickly.
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A new report shows that companies building data centers in parts of Virginia are paying very high prices for land. This is making it harder for homebuilders to buy land for new houses, which adds to the shortage of affordable housing in the U.S.
Key Facts
Data center developers are outbidding homebuilders for land, paying "impossible prices."
Northern Virginia has over 300 data centers, the highest concentration in the U.S.
SDC Capital paid $615 million for 97 acres in Loudoun County, about $6.3 million per acre.
Microsoft spent $465.5 million for 124 acres in Prince William County to build data centers.
Amazon bought 120 acres of university land in Ashburn for $427 million to build a data center.
There are over 1,500 new data centers in development nationwide, according to Pew Research Center.
The U.S. faces a shortage of 4 to 10 million homes, causing a housing affordability crisis.
Experts say competition for land between data centers and homebuilders is making housing shortages worse.
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The war around Iran has disrupted oil supply routes, causing oil prices to rise worldwide. Major oil companies like ExxonMobil, Chevron, Shell, BP, and Saudi Aramco have earned record profits in the past quarter due to higher oil prices and increased demand outside the conflict area.
Key Facts
The Strait of Hormuz closure reduced oil flows, pushing global oil prices higher.
ExxonMobil earned $14.7 billion in adjusted profits in the latest quarter.
Chevron made $12 billion, its highest quarterly profit in six years.
Shell nearly doubled its earnings to about $10 billion amid rising oil and gas prices.
BP’s profit more than doubled to $5.73 billion compared to the previous year.
Saudi Aramco’s earnings rose by 44% to $32.69 billion.
Higher refining margins also boosted profits for companies with refining operations, especially outside the Middle East.
Global benchmark oil prices averaged $96.68 per barrel in the second half of 2026, up from $66.71 in the second quarter of 2025.
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David Ellison, a media executive, defended Paramount’s plan to buy Warner Brothers Discovery. He also addressed concerns that he might cause political bias in his media companies.
Key Facts
David Ellison supports Paramount's offer to acquire Warner Brothers Discovery.
He wrote an opinion article in the New York Times about this topic.
Ellison said he would avoid influencing matters that involve his own company.
There are accusations that he could introduce political bias in the media outlets he controls.
Ellison argues he can be trusted to manage CNN fairly if the merger happens.
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CBS Mornings Deals offers special discounts on products that can help improve daily life. Customers can visit cbsdeals.com to find and buy these discounted items, and CBS earns a commission when purchases are made through the site.
Key Facts
CBS Mornings Deals features products with special discounts.
The deals aim to improve everyday lifestyle.
Shoppers can access the deals by visiting cbsdeals.com.
CBS earns money from commissions when people buy through the website.
The promotions are shown during the CBS Mornings program.
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A report from Zelle shows that 76% of Gen Z people have paid money for group expenses and did not get fully paid back. Elaine Swann, an expert on manners, gives advice on how friends can talk about money when sharing costs.
Key Facts
76% of Gen Z have covered group expenses without full repayment.
The report comes from Zelle, a digital payment service.
Elaine Swann is an etiquette expert who discusses money talks among friends.
She offers tips on how to handle conversations about splitting costs.
The discussion aims to help avoid awkwardness around money with friends.
The news story is from CBS News and can be viewed on their app or website.
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The United States is expected to transfer about $124 trillion in wealth in the coming decades. However, many heirs may not be prepared to manage this wealth successfully because they lack education on investing, risk, and responsibility.
Key Facts
About $124 trillion is expected to pass from one generation to the next in the U.S. over the coming years.
The biggest risk to this wealth transfer is not taxes or market changes, but heirs not being educated on how to manage money.
Many heirs know the wealth exists but do not understand how it was created or how to protect it.
Investing skills like assessing risk, patience, and building trust take time to learn and are not automatically passed down.
Families often start teaching heirs about money too late, when attitudes about finance are already set.
Technology makes investing faster and more accessible but does not replace the need for discipline and understanding.
Education should include lessons on patience, risk management, and the personal relationships involved in investing.
Proper education can help heirs avoid treating investing like gambling and help preserve family wealth over time.
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OpenAI and Apple are in a legal dispute where Apple accuses OpenAI of stealing its secret hardware designs. OpenAI denies these claims, saying it does not have or want Apple's trade secrets and calls the lawsuit aggressive and misleading.
Key Facts
Apple sued OpenAI last month, claiming OpenAI stole hardware designs related to upcoming AI devices.
OpenAI responded by denying any theft and said Apple's accusations are vague and personal.
The companies previously worked together on AI technology integration in Apple products.
OpenAI acquired a design studio started by Apple's former design chief Jony Ive and hired many former Apple employees.
Apple claims more than 400 former employees now work at OpenAI.
Apple alleges some former employees accessed Apple’s secret information after leaving the company.
OpenAI says Apple itself contacted some former employees for help with that information.
Apple requested court orders to stop OpenAI and former employees from using its trade secrets and to speed up legal proceedings.
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Many buildings in the U.S. have poor indoor air quality, which can harm health and reduce productivity. New technologies and design strategies now help create healthier buildings that cost less to operate over time.
Key Facts
Americans spend about 90% of their time indoors, where air pollution can be 2 to 5 times higher than outside.
Poor indoor air quality can lower thinking ability, work output, and cause health problems, costing the economy $13.2 to $32.1 billion each year.
Rising electricity use from AI and data centers puts pressure on power systems, making energy efficiency important for both money and the environment.
New building technologies include AI monitoring systems, solar roof panels, and special glass that adjusts to sunlight to save energy.
Experts say it is now possible to build better, healthier buildings that cost less to maintain over their lifespan.
The Stone House Group advises early planning and sometimes suggests renovating old buildings instead of building new ones to save money and reduce carbon emissions.
COVID-19 and wildfire smoke events showed the importance of good air filtration, ventilation, and airflow control in buildings.
Small construction choices made during building can save large costs later on.
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The Federal Reserve recently kept interest rates steady but some officials want to raise them, which could lead to higher returns on savings accounts. Experts say that certificates of deposit (CDs) and money market accounts both offer benefits now, with CDs providing a fixed rate and money market accounts offering easier access and variable rates that might increase.
Key Facts
The Fed kept interest rates between 3.5% and 3.75% in July, pausing changes for the fifth time in a row.
Three Fed officials voted to raise the rate, signaling possible increases soon.
Market tools suggest a nearly 70% chance of a rate hike at the next Fed meeting.
CDs currently offer rates around 4%, which is above the 3.5% inflation rate.
CDs give a guaranteed fixed interest rate until they mature, helpful for planned expenses.
Money market accounts have variable rates and allow easier access to funds.
Experts differ on which is better: some prefer CDs for locking in rates, others prefer money market accounts for flexibility.
Many savers keep money in low-interest checking accounts, missing out on higher yields.
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More companies are moving away from giving all workers the same pay raises. Instead, they are focusing on giving bigger raises to employees who perform well. In 2027, average pay raises will be around 3.5%, with some industries offering higher increases.
Key Facts
Only 32% of employers plan to give the same raise to all workers in 2027, down from 36% in 2026.
Companies want to use pay budgets more strategically to reward top performers.
The average planned pay raise for 2027 is 3.5%, just slightly higher than in 2026.
Inflation is about 3.5%, so raises may only just keep up with rising prices.
Some industries expect bigger raises, such as aerospace and defense (4.5%) and pharmaceuticals (4%).
Industries like telecommunications plan lower raises, around 2.5%.
The data comes from a Payscale survey of about 1,300 human resources and pay experts.
The trend shows employers shifting resources to reward strong individual performance rather than equal increases for all.
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The article suggests that work productivity should be measured by how well different work setups help people do their jobs, rather than by where they sit. It encourages leaders to focus on what work arrangements create the most value.
Key Facts
Productivity is often linked to where people work, such as in the office or remotely.
The article argues that location is not the best way to measure productivity.
Different types of work require different work environments to be effective.
Leaders should focus on how work arrangements impact the value created by workers.
Changing how productivity is measured can lead to better work outcomes.
The idea is to find the work setup that best supports each kind of task.
This approach can help move away from strict office-based rules toward more flexible work styles.
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Campaigners lost their legal appeal against the UK government’s approval of a £2.2 billion expansion at Gatwick Airport. The expansion will move the emergency runway slightly and allow 100,000 more flights each year, despite concerns about climate impact and local community effects.
Key Facts
The expansion plan includes moving Gatwick’s emergency runway 12 meters north.
The project costs £2.2 billion and aims to increase flights by 100,000 annually.
Campaigners, including Peter Barclay and the group Cagne, argued the government did not properly assess climate impacts.
The Transport Secretary approved the plan in September 2025.
The High Court and Court of Appeal both rejected the campaigners’ legal challenges.
Judges found the government’s decision logical and lawful, without breach of carbon targets.
Gatwick is the UK’s second busiest airport and a major single-runway airport worldwide.
Gatwick’s CEO said the expansion will create 14,000 jobs and add £1 billion to the economy every year.
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Edelweiss is a rare white flower that grows naturally in the Alps. It has strict growing needs, such as rocky, alkaline soil, full sun, and cold winters, but people can grow it safely in rock gardens in certain regions.
Key Facts
Edelweiss is known as “noble white” in German and grows wild in the Alps.
Young men historically risked their lives to pick edelweiss as a gift, with at least one recorded death from falling.
The flower needs well-drained, rocky or sandy soil that is low in nutrients.
It requires full sunlight and cold winter temperatures to grow well.
Gardeners in climate zones 4-7 with low humidity can try to grow edelweiss successfully.
Seeds need a cold period (stratification) before they will sprout, either outdoors in late fall or pre-chilled indoors.
Starter plants can be planted after the last frost and bloom in their first year.
Once established, the plants need little watering and survive down to -20°F (-29°C).
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Gatwick Airport will build a second runway after a court dismissed challenges to the expansion plans. The new runway, approved by the transport secretary, will allow about 100,000 more flights a year and aims to open by 2030.
Key Facts
Gatwick’s second runway project costs £2.2 billion.
The project was approved by Transport Secretary Heidi Alexander in September.
The court of appeal rejected local campaigners’ legal challenge against the expansion.
The second runway will be created by repositioning the airport’s emergency runway.
Gatwick currently is one of the busiest airports with a single runway.
The expansion is expected to add about 13 million passengers each year.
The government plans to invest over £219 million in green fuel to reduce flight emissions.
Luton Airport also cleared legal challenges to expand capacity to 32 million passengers by the 2040s, promising job creation and environmental controls.
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A company called Kalshi plans to let people bet on the outcomes of medical drug trials and FDA approval decisions. This includes trials for serious illnesses like cancer and Alzheimer’s disease. The article shares a personal story about a boy with cancer and discusses concerns about the ethics of betting on life-saving treatments.
Key Facts
Kalshi is launching a pilot program where users can bet on results of drug trials and FDA decisions.
The bets involve serious illnesses, including cancer and Alzheimer’s disease treatments.
Kalshi’s CEO says the market helps share information about drug development that is usually hard to access.
The author’s 12-year-old son has an aggressive tumor and is part of a cancer clinical trial.
Clinical trials can be risky, with uncertain outcomes and difficult side effects.
Some experts worry that betting on medical trials may harm research efforts.
Kalshi currently does not allow bets on treatments involving children.
The author finds the idea of betting against a child’s treatment upsetting and compares it to “death markets.”
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President Trump's tariff policies did not reduce the trade deficit as intended. They also caused problems for U.S. businesses and did not bring in enough money to lower the federal deficit.
Key Facts
President Trump implemented tariffs to try to reduce the trade deficit.
The tariffs did not successfully lower the trade deficit.
U.S. businesses experienced difficulties because of the tariffs.
The tariffs generated some government revenue but not enough to cut the federal deficit significantly.
Critics view the tariff policies as a major failure in economic strategy.
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New York’s governor has ordered a one-year pause on building new large data centers in the state. This move aims to address concerns about water use, energy demands, and impacts on disadvantaged communities but may affect jobs and the state’s role in the growing AI industry.
Key Facts
New York has imposed a moratorium on constructing new large data centers for one year starting July 14.
Data centers create many blue-collar jobs, especially in construction and skilled trades.
The data center industry has grown to contribute about 1.5% of the U.S. GDP, around $500 billion annually as of early 2026.
Governor Hochul’s order cites concerns about water use, energy consumption, and social impacts on disadvantaged communities.
Studies show data centers actually use very little water compared to farming and benefit local water systems by funding improvements.
AI data centers have not increased household electricity bills according to recent research.
New York currently has nearly 12 gigawatts of data center projects pending approval.
Critics argue the moratorium could harm New York’s economy and reduce U.S. competitiveness in AI against countries like China.
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